Thursday January 24, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are slightly higher in early trading. Investors continue to remain concerned over the global economic slowdown especially with the trade war between the US and China. Banks are also in focus as some key meetings have taken and are taking place. Asian markets settled the session mostly higher.
Technicals
The SPY continued to consolidate just below recent highs after encountering resistance at the $265 pivot during yesterday’s session. Support is first found at then the $260 pivot, followed by the 20EMA at $258.77, 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 $272.41 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**
MKC, LRCX, XLNX, LUV
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 218k
11:00 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
Southwest Airlines (LUV) – EPS Est. $1.06
Bristol-Myers Squibb (BMY) – EPS Est. $0.85
American Airlines (AAL) – EPS Est. $1.05
Notable Earnings After Close
Intel (INTC) – EPS Est. $1.22
Starbucks (SBUX) – EPS Est. $0.65
Western Digital (WDC) – EPS Est. $1.27
