Monday July 30, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are down slightly to start this morning. Busy week in the market as earnings continue to roll out. Many central banks are meeting this week and investors will be paying attention to what comes out of those. FOMC meets Tues and Wed and is expected to remain in a hawkish stance. Asian markets ended the session mostly lower.
Technicals
The SPY exhibited some weakness in Friday’s session after pushing out of its recent consolidation. Support will first lie at the small gap entry of $280.63, followed by the $280 and $279.5 pivots, then the 20EMA at $279.20, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot, then the $274 pivot and 100SMA at $271.66. It continues at the pivot at $270, the 200SMA at $269.17, then pivots at $267, $265, $259.05, $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will first lie at the swing high of $284.37, and all time highs at $286.63.
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**
TSN, TWTR
Economic Calendar
10:00 Pending Home Sales Index
Notable Earnings Before Open
Caterpillar (CAT) – EPS Est. $2.66
Seagate Technology (STX) – EPS Est. $1.45
First Data Corporation (FDC) – EPS Est. $0.32
Loews (L) – EPS Est. $0.73
Notable Earnings After Close
Illumina (ILMN) – EPS Est. $1.11
Athenahealth (ATHN) – EPS Est. $0.62
