Thursday January 17, 2019
Economic Calendar & Watch List
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.
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
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