Tuesday November 20, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower in early trading. Weakness in the tech and retail sectors are leading markets lower. AAPL and NVDA are leading the tech sector lower after experiencing decreasing demands for products from a slowing global economy. Investors are still concerned with the US/China trade deal and rising interest rates in this shortened holiday trading week. Asian markets settled the session lower.
Technicals
The SPY remained weak in yesterday’s session encountering resistance at the 20EMA, fading down through the $270 pivot closing the day at the short term ascending support. Support is first found at $265, $261.20, then $259.00 and $254.67. Resistance first lies at the $270 pivot, followed by the 20EMA of $273.95, then the $275.5 pivot, then the 200SMA at $275.78, 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**
AAPL, MU, SQ, KSS, TGT
Economic Calendar
8:30 Housing Starts
8:55 Redbook
Notable Earnings Before Open
Target (TGT) – EPS Est. $1.11
Best Buy (BBY) – EPS Est. $0.85
Kohl’s (KSS) – EPS Est. $0.96
Lowe’s (LOW) – EPS Est. $0.97
Notable Earnings After Close
Autodesk (ADSK) – EPS Est. $0.04
Foot Locker (FL) – EPS Est. $0.92
