Wednesday February 6, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are flat in early trading. Investors continue to watch earnings come in with mixed results in the last quarter of 2018. Pres. Trump failed to ease trade tension woes in his State of the Union Address last night as the March 1 deadline approaches. Most Asian markets remain closed for holiday with the remaining settling the session mixed.
Technicals
The SPY continued higher in yesterday’s session holding above the 100SMA. Support is first found at the 100SMA at 270.46, then the pivots at $270, $268, $265, and the 20EMA at $264.57. It continues with $263, $260, $254.67, $253, $250, $248, $242 and $240. Resistance first lies at the 200SMA at $273.92 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**
EA, ATVI, GM, TTWO
Economic Calendar
8:30 International Trade In Goods
10:30 Weekly EIA Petroleum Status Report
6:05 Fed Pres. Quarles Speaks
7:00 FOMC Chair Powell Speaks
Notable Earnings Before Open
Take-Two Interactive Software (TTWO) – EPS Est. $2.02
General Motors (GM) – EPS Est. $1.21
Spotify Technology (SPOT) – EPS Est. $-0.24
Eli Lilly (LLY) – EPS Est. $1.36
Notable Earnings After Close
iRobot (IRBT) – EPS Est. $0.51
Chipotle Mexican Grill (CMG) – EPS Est. $1.38
FireEye (FEYE) – EPS Est. $-0.14
