Thursday January 17, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are lower in early trading. Renewed concern over US/China trade is putting pressure on global markets as the US starts an investigation into the Chinese company Huawei. Investors continue to keep a watchful eye on earnings to gauge the impact the the last quarter of 2018 had on companies. Asian markets settled the session lower.
Technicals
The SPY continued to remain above the $260 pivot level in yesterday’s session. Support is first found at the $260 pivot, followed by the 20EMA at 256.25, 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 100SMA at $273.38 and the 200SMA at $273.83.
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**
SIG, MS, CSX
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 221k
8:30 Philadelphia Fed Bus. Outlook Survey
10:45 Fed Pres. Quarles Speaks
Notable Earnings Before Open
Morgan Stanley (MS) – EPS Est. $0.90
Fastenal (FAST) – EPS Est. $0.60
Notable Earnings After Close
Netflix (NFLX) – EPS Est. $0.24
American Express (AXP) – EPS Est. $1.18
