Wednesday March 13, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are slightly higher in early trading. The UK is in headlines following another failed Brexit deal vote by PM May. This sets the country up, potentially, for a “hard Brexit” on March 29 with no deal. BA continues to be under pressure following more countries grounding the 737 MAX from their airspace with the exception of the US FAA. Asian markets settled the session mixed.
Technicals
The SPY traded in a tight range in yesterday’s session and consolidated near the recent highs. Support will first found at the 20EMA of $276.38 followed by the $275.5 pivot and the 200SMA at $274.90, then pivot low of $272.42, $270, the 100SMA at $267.75. Resistance first lies at 281.2 and $286.6.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
PDD, ZTO
Economic Calendar
8:30 Producer Price Index
8:30 Durable Goods Orders
10:00 Construction Spending
Notable Earnings Before Open
NONE
Notable Earnings After Close
Tailored Brands (TLRD) – EPS Est. $-0.29
