Monday January 28, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are lower in early trading. Weak data continues to come in from China, this time showing industrial profits declining for the 2nd month in a row fueling the concern of a weakening economy. Gains from the temporary funding of the US government are drifting with comments from Pres. Trump that he will still be fighting for the border wall funding. Asian markets settled the session lower.
Technicals
The SPY gapped higher above the $265 pivot in Friday’s session and held. This morning the SPY is looking to gap below that $265 support. Support is first found at $263 and the $260 pivot/ 20EMA, followed by $254.67, $253, $250, $248, $242 and $240. Resistance first lies at $265, $268, $270, then the 100SMA at $271.89 and the 200SMA at $273.87.
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**
CAT, NVDA
Economic Calendar
NONE
Notable Earnings Before Open
Caterpillar (CAT) – EPS Est. $2.98
Notable Earnings After Close
Whirlpool (WHR) – EPS Est. $4.30
