Monday August 6, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European stocks are higher in trading this morning. The trade war is still in the forefront of investors attention after comments were made from China and the US stating that neither country was willing to step aside on trade. The energy sector is trying to lead the markets higher after a decrease in production from Saudi Arabia. Asian markets settled the session mixed.
Technicals
The SPY exhibited strength in Friday’s session, continuing higher after testing and consolidating around its 20EMA. Support will first lie at the 20EMA of $280.54, followed by the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot, then the $274 pivot and 100SMA at $271.93. It continues at the pivot at $270, the 200SMA at $269.83, 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**
Scanners
Economic Calendar
NONE
Notable Earnings Before Open
Tyson Foods, Inc. (TSN) – EPS Est. $1.33
Cardinal Health, Inc. (CAH) – EPS Est. $0.93
Newell Brands Inc. (NWL) – EPS Est. $0.78
Notable Earnings After Close
Marriott (MAR) – EPS Est. $1.36
Twilio (TWLO) – EPS Est. $-0.23
Weight Watchers (WTW) – EPS Est. $0.90
Hertz (HTZ) – EPS Est. $-0.25
