Monday May 13, 2019
Economic Calendar & Watch List
US Futures and European markets are lower in early trading. Markets remain under pressure with more fallout between China and the US in regard to trade. The US just raised tariffs on $200b of Chinese goods on Friday and now China has announced they will place tariffs on $60b of US goods. Crude prices are higher following supply route disruptions in the Middle East. Asian markets settled the session lower.
The SPY dropped early in Friday’s session filling the $283 gap and then rallied into the afternoon. This morning we are looking to open around the lows of Friday. Support will first be found at $282.5, $281.2, the 200SMA at $277.30, and $275.50. Resistance first lies at $287.1, $289.4, followed by the 20EMA at $289.65, $293.2, and all time highs of $294.95
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**
TEVA, BA, TSLA
9:05 Fed Pres. Rosengren Speaks
9:10 Fed Pres. Clarida Speaks
Notable Earnings Before Open
Notable Earnings After Close
Take-Two Interactive (TTWO) – EPS Est. $0.69