Tuesday, May 12, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are slightly higher in early trading. Investors are concerned over an increase in trade tensions between China and the US. However, they continue to cautiously optimistic about the economy as states continue to ease restrictions following the COVID-19 shutdowns. Asian stocks settled the session mostly lower.
Technicals
The SPY opened lower to start yesterday’s session but rallied through the session ending the day near the highs. Support will first be found at $289.25, $283.70, followed by the 20EMA at $283.38, $281.5, $279.13, $275.52, $271.3. Resistance will be found at ascending resistance at $294.88, the 100SMA at $299.17, and the 200SMA at $299.73.
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**
ERI, IIVI, NVAX, DDOG
Economic Calendar
8:30 Consumer Price Index
9:00 Fed Pres. Bullard Speaks
10:00 Fed Pres. Harker Speaks
10:00 Fed Pres. Quarles Speaks
5:00 Fed Pres. Meister Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
