Friday, December 13, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets pushed to new highs yesterday following news from Pres. Trump that the US is ready to suspend tariffs on Chinese goods once the agricultural commitment takes place and forms the phase 1 trade agreement. The UK is set up to leave the EU as soon as Jan. 31 2020 following a majority victory for UK PM Johnson’s Conservative Party. Asian stocks settled the session higher.
Technicals
The SPY surged to new highs in yesterday’s session following news on a possible phase one trade agreement then came back to test the recent high and held the level. Support will first be found at previous highs of $315.48, followed by with gap fill at $312.5, the 20EMA at $312.16, $309.06, ascending support $307.80, $302.20s and the 100SMA at $299.94. Resistance will be found at all-time highs of $317.99.
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**
ATNX, SRPT, PHR
Economic Calendar
8:30 Retail Sales
11:00 Fed Pres. Williams Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
