Thursday, September 12, 2019
Economic Calendar & Watch List
US Futures and European markets are higher in early trading. Markets are higher following news that Pres. Trump has agreed to a two-week delay in increasing some planned tariffs on China. This news is being weighed on by eurozone economic uncertainty as the ECB meets and is expected to introduce a hefty stimulus package for the economy. Asian stocks settled the session mixed.
The SPY trended higher in yesterday’s session breaking and holding above the recent ascending resistance line and is gapping higher into all time highs this morning. Support will first be found at $298.83, $294.30, then the 20EMA at $293.98, the 100SMA of 291.31, $288.44, then ascending support of $285.79. Resistance will be found at $302.23 and ascending resistance of $304.86
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**
8:30 Consumer Price Index
8:30 Weekly Unemployment Data, exp. 215k
Notable Earnings Before Open
Kroger (KR) – EPS Est. $0.41
Notable Earnings After Close
Broadcom (AVGO) – EPS Est. $5.13