Wednesday November 21, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. Markets are looking to take a breath after a bearish week with investors concerned about a global economic slowdown. European stocks are higher with decreased geopolitical risk in Italy. A rise in crude prices is also helping markets. Asian markets settled the session mixed.
Technicals
The SPY gapped lower in yesterday’s session then sold through and closed below the $265 support level. This morning, the SPY is looking to open at that $265 pivot. Support is first found at $265, followed by the pivot at $263.16, $261.20, then $259.00 and $254.67. Resistance first lies at the $270 pivot, followed by the 20EMA of $273.01, 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**
NVDA, GPS
Economic Calendar
8:30 Weekly Unemployment Claims, expected 215k
8:30 Durable Goods Orders
Notable Earnings Before Open
Deere & Company (DE) – EPS Est. $2.44
Notable Earnings After Close
NONE
