Monday May 20, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are and European markets are lower in early trading. Markets are lower this morning following retaliatory measures from China against companies who agreed to stop supplying Huawei which the US Government required citing national security. This increases the tension between the US and China with ongoing negotiations and continues increase concern over global economic growth. Asian markets settled the session mixed.
Technicals
The SPY tested the 20EMA in Friday’s session then sold off to the morning lows into the close. 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 $287.76, $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**
QCOM, MU, AAPL
Economic Calendar
8:50 Fed Pres. Bostic Speaks
9:30 Fed Pres. Harker Speaks
1:00 Fed Pres. Clarida Speaks
1:00 Fed Pres. Williams Speaks
7:00 Fed. Chair Powell Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE