Tuesday, December 3, 2019
Economic Calendar & Watch List
US Futures and European markets are slightly lower in early trading. Markets are lower this morning following unsettling trade comments from Pres. Trump stating that the deal may not come before 2020 as he “has no deadline”. This news along with renewed steel tariffs on Brazil and Argentina are keeping investors on edge. Asian stocks settled the session mixed.
The SPY was weak in yesterday’s session falling below the ascending support line that it has been testing and this morning we are looking to gap lower below the 20EMA. Support will first be found at 309.06, ascending support $307.60s, $302.20s, $298.50 and the 100SMA at $298.52. Resistance will be found at the 20EMA at $310.16, followed by ascending resistance at $313 and all-time highs of $315.48.
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**
Notable Earnings Before Open
Notable Earnings After Close
Salesforce (CRM) – EPS Est. $0.66
Workday (WDAY) – EPS Est. $0.37
Marvel (MRVL) – EPS Est. $0.17