Friday November 9, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower in early trading. Markets are lower following the FOMC announcement yesterday afternoon that they will likely continue with another interest rate hike next month. The tech sector continues to lead the market lower after more disappointing earnings overnight. Asian markets settled the session mostly lower.
Technicals
The SPY continued to test the $281 pivot level in yesterday’s session. Support is first found at the 200SMA of $276.05, followed by the $275.5 pivot, then the 20EMA at $275.59, the important $270 pivot, followed by $265, $261.20, then $259.00 and $254.67. Resistance first lies at the $281 pivot area, then the 100SMA at $281.68, $286.7, $293.22, then 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**
Economic Calendar
8:30 Producer Price Index
8:30 Fed Pres. Williams Speaks
8:50 Fed Pres. Harker Speaks
9:00 Fed Pres. Quarles Speaks
10:00 Consumer Sentiment
Notable Earnings Before Open
Ubiquiti Networks (UBNT) – EPS Est. $0.83
Notable Earnings After Close
NONE
