Friday, August 9, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are lower and European markets are flat in early trading. Markets rebounded in yesterday’s session following the recent selloff. Investors still remain cautious with tensions high regarding trade between China and the US. More evidence of a global economic slowdown continues to weigh on markets. Asian stocks settled the session mixed.
Technicals
The SPY exhibited strength in yesterday’s session pushing through the 100SMA and consolidating around the 50SMA. Support will first be found at the 100SMA of $289.90, $288.44, descending support at $286.5, $281.72, followed by the 200SMA at $278.89. Resistance will be found at $293.20, $294.45, the 20EMA at $294.63, $297, then $299.6, $301 and $302.23
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**
DXC, NKTR, AMD, UBER
Economic Calendar
8:30 Producer Price Index
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
