Tuesday, August 13, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Global economic slowdown remains a concern following GDP data from Singapore which showed its weakest growth in nearly 10 years. Protest in Hong Kong in addition to the ongoing US/China trade dispute continue to weigh on markets. Asian stocks settled the session lower.
Technicals
The SPY failed to hold the 100SMA in yesterday’s session falling through the $288 support level. Support will first be found with descending support at $285.85, $281.72, followed by the 200SMA at $279.04. Resistance will be found at $288.44, then the 100SMA at 290.06, $293.20, the 20EMA at $293.75, $294.45, $297, then $299.6, $301 and $302.23
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**
AAP, JD, CVET, DCPH
Economic Calendar
8:30 Consumer Price Index
Notable Earnings Before Open
JD.com (JD) – EPS Est. $0.05
Advance Auto Parts (AAP) – EPS Est. $2.22
Notable Earnings After Close
NONE
