Friday May 20, 2016
Economic Calendar & Watch Lists 5/20/2016
US Futures are slightly higher this morning while European stocks trade higher by +1% as the price of commodities moves higher lifting energy names. Asian stocks closed predominantly higher.
The SPY continued its move lower in yesterday’s session on carryover from Wednesday’s momentum. Support will lie at the high of yesterday’s range at $204.54, followed by the low of yesterday’s range at $202.78, then $202.40, $201.74, $201.55, and the 200 day SMA at $201.20. Resistance will lie at the critical resistance pivot at $205.25, followed by the 50 day SMA at $205.83, then the high of Wednesday at $206.30.
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**
10:00 Apr existing home sales expected +1.3% to 5.40M
Notable Earnings Before Open
DE: Deere & Co – EPS Est. $1.46, Rev Est. $6.72B
FL: Foot Locker – EPS Est. $1.40, Rev Est. $2B
CPB: Campbell Soup – EPS Est. $.65, Rev Est. $1.91B
Notable Earnings After Close