Monday, August 26, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets look to pare some of the losses incurred in Friday’s session following an escalation in the trade war with China and the US both increasing tariffs on each other. Markets are trying to recover with the news that Pres. Trump stated on Sunday with China contacting the US wanting to “get back to the table” and continue negotiations. Asian stocks settled the session mostly lower.
Technicals
The SPY dropped sharply in Friday’s session following a ramp-up in trade tensions and found support at the recent ascending support line. Support will first be found at ascending support of $283.60, $281.72, followed by the 200SMA at $279.95. Resistance will be found with descending resistance of $285, followed by $288.4, then the 100SMA at 290.69, the 20EMA at $291.06, $293.20, $294.45, $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**
SPY, BMY, AAPL
Economic Calendar
8:30 Durable Goods Orders
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
