Wednesday, December 11, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are slightly higher and European markets are mixed in early trading. The FOMC will release its meeting minutes today where it is expected to have no rate changes. Trade concerns also weigh on investors minds as the Dec. 15 deadline approaches for the new round of tariffs. Asian stocks settled the session mixed.
Technicals
The SPY was choppy in yesterday’s session and consolidated in the recent gap area. Support will first be found with gap fill at $312.5, followed by the 20EMA at $311.35, $309.06, ascending support $307.68, $302.20s and the 100SMA at $299.61. Resistance will be found at 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**
AEO, PLCE
Economic Calendar
8:30 CPI, exp. 0.2%
2:00 FOMC Meeting Announcement
2:30 Fed Chair Press Conference
Notable Earnings Before Open
American Eagle Outfitters (AEO) – EPS Est. $0.48
Children’s Place (PLCE) – EPS Est. $3.02
Notable Earnings After Close
Lululemon Athletica (LULU) – EPS Est. $0.93