Tuesday February 5, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European shares are mixed in early trading. Markets continue to be strong following a meeting between Fed Chair Powell, Fed Vice Chair Clarida and Pres. Trump where the dovish tone on rate hikes was reaffirmed. Investors will be watching Pres. Trump’s State of the Union address for more insight into the strength of the economy and status with China trade. Most Asian markets remain closed for holiday with the remaining settling the session mixed.
Technicals
The SPY reclaimed the $270 pivot and held the 100SMA in yesterday’s session. Support is first found at the 100SMA at 270.62, then the pivots at $270, $268, $265, $263 and the 20EMA at $262.80. It continues with $260, $254.67, $253, $250, $248, $242 and $240. Resistance first lies at the 200SMA at $273.89 followed by $275.5 and $281.
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**
EL, RL
Economic Calendar
8:55 Redbook
10:00 ISM Non Manufacturing Index
Notable Earnings Before Open
Viacom (VIAB) – EPS Est. $1.02
Estee Lauder (EL) – EPS Est. $1.54
Ralph Lauren (RL) – EPS Est. $2.15
Notable Earnings After Close
Snap (SNAP) – EPS Est. $-0.08
Walt Disney (DIS) – EPS Est. $1.57
Electronic Arts (EA) – EPS Est. $
