Wednesday, September 18, 2019
Economic Calendar & Watch List
US Futures and European markets are slightly lower in early trading. Investors are waiting for the 2 pm Fed Meeting release this afternoon for more insight into the economy and rate decisions. Markets are expecting a 25 basis point reduction. Asian stocks settled the session mixed.
The SPY continued to consolidate around the ascending support line in yesterday’s session then moved higher into the closing bell. Support will first be found at ascending support of $300.40, followed by $296.73, then the 20EMA at $296.25, $294.30, the 100SMA of 291.67, $288.44, then ascending support of $286.55. Resistance will be found at $302.46 and ascending resistance of $305.06
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 Housing Starts
2:00 FOMC Meeting Announcement
2:30 Fed Chair Press Conference
Notable Earnings Before Open
General Mills (GIS) – EPS Est. $0.77
Notable Earnings After Close