Hot Stocks To Watch 1/16/2019

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Wednesday January 16, 2019

Economic Calendar & Watch List

Morning Notes

US Futures are higher and European shares are lower in early trading. Brexit is in the headlines after UK PM May’s plan was defeated in a vote by parliament which leaves things up in the air while approaching the March 29 deadline. Investors are also concerned with the progress of US/China trade relations following comments from Trade Rep. Lighthizer. Losses have been capped following strong earnings coming from banks. Asian markets settled the session mixed.

Technicals

The SPY tested and held the important $260 level during yesterday’s session. Support is first found at the $260 pivot, followed by the 20EMA at 255.76, then $254.67, $253, $250, $248, $242, $240, followed by $235, $231.95, and $228.56. Resistance first lies at $263, $265, $268, $270, then the confluence of the 200SMA and 100SMA at $273.84.

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**

GS, BAC, JWN

Economic Calendar

 8:30  Retail Sales

10:00  Business Inventories

 1:00  Fed Pres. Kashkari Speaks

 

Notable Earnings Before Open

Bank of America (BAC) – EPS Est. $0.63

Goldman Sachs (GS) – EPS Est. $5.37

PNC Financial (PNC) – EPS Est. $2.77

U.S. Bancorp (USB) – EPS Est. $1.06

 

Notable Earnings After Close

CSX (CSX) – EPS Est. $1.00

Alcoa (AA) – EPS Est. $0.32

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