Thursday September 27, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are slightly higher and European stocks are slightly lower in early trading. Markets dipped into the afternoon yesterday after the hawkish FOMC meeting announcement with the SPY settling near its 20EMA. European markets are under pressure after Eurozone economic confidence fell to over a 1 year low and with a reduction in the German GDP forecast. Asian markets settled the day mostly lower.
Technicals
The SPY filled the gap and then dipped in yesterday’s session down to its 20EMA after the release of the FOMC minutes. Support will continue to lie first at the 20EMA of $289.78, followed by the pivot low of $286.17, the old $285 pivot zone, then gap entry at $283.37, gap fill at $282.54. It continues with the 100SMA at $280.22, the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot and the 200SMA at $275.14. Resistance is at yesterday’s high of 292.24, followed by all time highs of $293.94.
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**
BBBY, AAOI
Economic Calendar
8:30 GDP, expected 4.3%
8:30 Weekly Jobless Claims, expected 215k
8:30 International Trade In Goods
2:00 Fed Pres. Kaplan Speaks
4:30 Fed Chair Powell Speaks
Notable Earnings Before Open
Carnival Cruise Lines (CCL) – EPS Est. $2.31
Conagra Brands (CAG) – EPS Est. $0.49
Notable Earnings After Close
NONE
