Wednesday January 23, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are higher and European shares are slightly lower in early trading. Japan has added to the concerns over the global economic slowdown as they reported their largest percentage drop in exports to China in 2 years. This combined with the BOJ predicting that inflation would drop further below their target level. Investors will be watching for news coming from day 2 of the meeting in Davos. Asian markets settled the session mixed.
Technicals
The SPY drifted in yesterday’s session . Support is first found at then the $260 pivot, followed by the 20EMA at $258.28, 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 $272.68 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**
IBM, UTX, PG, SYF
Economic Calendar
8:55 Redbook
Notable Earnings Before Open
United Technologies (UTX) – EPS Est. $1.51
Procter & Gamble (PG) – EPS Est. $1.21
Notable Earnings After Close
United Rentals (URI) – EPS Est. $4.77
Las Vegas Sands (LVS) – EPS Est. $0.86
