Hot Stocks To Watch 1/23/2018

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Tuesday January 23, 2018

 

 

Economic Calendar & Watch List

 

Morning Notes

US Futures and European stocks are just slightly higher in early trading. Markets made new highs in yesterday’s session after US lawmakers came to an agreement to end the 3-day Government shutdown. Investors will now be paying attention to corporate earnings in what is expected to be another strong earnings season. Asian stocks ended the day higher on carryover of the US markets.

 

Technicals

The SPY broke through the recent consolidation during yesterday’s session closing at new highs. Support will first lie at $280.11, followed by $276.13, then $274.10, which correlates with the 20EMA also at $274.10. Support continues at $272, $270.65, the top of the recent consolidation at $268.80, then the low of the recent consolidation at 267, and the 50SMA at $266.73. Ascending support falls at $266.06, then a short term pivot at $265.82, a recent swing low pivot at $262.71, and then pivots at $260.75, $260, and the 100SMA at $259.62. Resistance will lie at all time highs at $282.69.

 

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**

NFLX, EDU

Economic Calendar

 8:55  Redbook

 6:30  Fed Pres. Evans Speaks

 

Notable Earnings Before Open

Johnson & Johnson (JNJ) – EPS Est. $1.73

Procter & Gamble (PG) – EPS Est. $1.14

Verizon Communications (VZ) – EPS Est. $0.88

 

Notable Earnings After Close

United Continental Holdings (UAL) – EPS Est. $1.34

Texas Instruments (TXN) – EPS Est. $1.09

 

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