Friday February 1, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are slightly higher in early trading. Trade talks in Washington concluded between the US and China with President Trump saying he was “optimistic” on a deal being reached, but still firm on the March 1 deadline. Earnings from AMZN are weighing on markets as the beat on earnings, but adjusted their outlook. Asian markets settled the session mixed.
Technicals
The SPY continued higher in yesterday’s session encountering resistance at the important $270 pivot. Support is first found at $268, $265, $263 and the 20EMA at $262.03, followed by $260, $254.67, $253, $250, $248, $242 and $240. Resistance first lies at $270, then the 100SMA at $270.96 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**
AMZN, CI
Economic Calendar
8:30 Non Farm Payrolls
9:45 Fed Pres. Kaplan Speaks
10:00 ISM Manufacturing Index
10:00 Consumer Sentiment
Notable Earnings Before Open
Merck (MRK) – EPS Est. $1.03
Honeywell (HON) – EPS Est. $1.88
Cigna (CI) – EPS Est. $2.53
Notable Earnings After Close
NONE
