Wednesday June 12, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Investors remain on edge as Pres. Trump announced that “China wants a deal badly” and that he would hold up a deal until it is great for America. Investors will also be watching crude inventories to see if inventories continue to build with concern of global slowdown. Asian markets settled the session mostly lower.
Technicals
The SPY gapped higher to start yesterday then drifted throughout the session testing and failing the $289.4 pivot level. Support will first be found with the 50SMA at $287, followed by the 20EMA at 284.26, $281.20 pivot, the 100SMA at $281.10, followed by the 200SMA at $277.24. Resistance first lies at $289.50 and all time highs at $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**
PLAY, CSCO, AMD
Economic Calendar
8:30 Consumer Price Index, exp. 0.1%
10:30 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
NONE
Notable Earnings After Close
lululemon athletica (LULU) – EPS Est. $0.71
RH (RH) – EPS Est. $1.54
