Tuesday May 15, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are lower this morning. This after German GDP grew at a slower than expected rate. Investors as also awaiting the next round of trade talks between the US and China. Asian markets closed the session mostly lower.
Technicals
The SPY consolidated around its $273 pivot in yesterday’s session on decreased volume. Support will first lie at the previous swing high pivot of $271.30, then the confluence of the 100SMA and the $270 pivot, followed by the 20EMA at $267.71 and the $267 pivot, then $265, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at $273, $275.5, $280, $284.10, and all time highs at $286.63.
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**
HD, TSLA
Economic Calendar
8:30 Retail Sales
8:55 Redbook
1:10 Fed Pres. Williams Speaks
Notable Earnings Before Open
Home Depot (HD) – EPS Est. $2.07
Notable Earnings After Close
NONE
