Friday July 12, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets continue to remain on highs following Fed Chair Powells dovish testimony yesterday to congress. He reiterated his dovish stance of potential rate cuts in the near future. Asian markets settled the session higher.
Technicals
The SPY consolidated just below the all time highs in yesterday’s session and is looking to gap to new highs this morning. Support will first be found with gap entry at $294.33, then the 20EMA at 294.25, followed by gap fill at $293.55, the 100SMA at $286.33, $281.20 pivot, and the 200SMA at $277.68. Resistance will be time highs at $299.66
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**
ILMN, SNAP, INFY
Economic Calendar
8:30 Producer Price Index
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE