Thursday, December 12, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. The FOMC left rates unchanged following this meeting which was expected by investors. Eyes will be watching the ECB now for their policy meeting today. Asian stocks settled the session mixed.
Technicals
The SPY traded in a tight range in yesterday’s session, consolidating following the FOMC announcement. Support will first be found with gap fill at $312.5, followed by the 20EMA at $311.64, $309.06, ascending support $307.68, $302.20s and the 100SMA at $299.77. 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**
LULU, CIEN
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 213k
8:30 Producers Price Index
Notable Earnings Before Open
Ciena (CIEN) – EPS Est. $0.66
Notable Earnings After Close
Costco (COST) – EPS Est. $1.70
Adobe (ADBE) – EPS Est. $2.26
Broadcom (AVGO) – EPS Est. $5.35
Oracle (ORCL) – EPS Est. $0.88
