Wednesday, November 27, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. President Trump announced yesterday that the US and China were very close to finalizing a phase 1 deal on trade which is helping propel markets to new highs this morning. Investors will also be keeping their eyes on GDP data and unemployment reports that are due out this morning. Asian stocks settled the session mostly higher. A reminder that markets are closed tomorrow for Thanksgiving.
Technicals
The SPY continued to march into record territory, posting new all-time highs in yesterday’s session. Support will first be found at ascending support of $312.60, followed by 309.06, the 20EMA at $308.93, $302.20s, $298.50 and the 100SMA at $298.34. Resistance will be found at all-time highs of $314.28.
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**
DELL
Economic Calendar
8:30 GDP, exp. 1.9%
8:30 Durable Goods Orders
8:30 Unemployment Claims, exp. 218k
10:00 Personal Income and Outlays
Notable Earnings Before Open
Deere & Company (DE) – EPS Est. $2.13
Notable Earnings After Close
NONE
