Friday May 17, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are and European markets are lower in early trading. Concern continues to run high with the trade relationship between the US and China. Global economic condition is in key focus as show by remarks from BOJ Gov. Kuroda’s comments this morning citing weakness in global outlook. In the UK, the pound has dropped to its lowest level since January with the ongoing Brexit uncertainty. Asian markets settled the session mostly lower.
Technicals
The SPY was strong to start yesterday’s session pushing up and through the 20EMA then failed that level into the afternoon. Support will first be found at $281.20, $280, the 200SMA at $277.34, and $275.50. Resistance first lies at $286.7, $287, followed by the 20EMA at $287.96, $289.4, $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**
BIDU, IQ, AAPL
Economic Calendar
10:00 Fed Pres. Clarida Speaks
10:00 Consumer Confidence
11:15 Fed Pres. Williams Speaks
1:40 Fed Pres. Clarida Speaks
2:00 Fed Pres. Williams Speaks
Notable Earnings Before Open
Deere & Company (DE) – EPS Est. $3.57
Notable Earnings After Close
NONE
