Wednesday February 13, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher in early trading. Investors are cautiously optimistic on US and China trade following comments from Pres. Trump signaling that he may extend the deadline if progress is made. An increase in oil prices is also helping boost markets as new OPEC data showed a drop in production. Asian markets settled the session higher.
Technicals
The SPY gapped higher to start yesterday’s session and continued higher consolidating on the 200SMA. Support is first found at the 200SMA of $274.08, followed by $270, the 100SMA at $269.53, then $268, 20EMA at $267.37 and $265. It continues at $263, $260, $254.67, $253, $250, $248, $242 and $240. Resistance first lies at $275.5, $281 and $286.6.
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**
ATVI, LPX, EXEL
Economic Calendar
7:15 Fed Pres. Bostic Speaks
8:30 CPI
8:50 Fed Pres. Mester Speaks
12:00 Fed Pres. Harker Speaks
Notable Earnings Before Open
Teva Pharmaceutical (TEVA) – EPS Est. $0.53
Dish Network (DISH) – EPS Est. $0.67
Notable Earnings After Close
Cisco Systems (CSCOI) – EPS Est. $0.72
MGM Resorts (MGM) – EPS Est. $0.13
American International Group (AIG) – EPS Est. $0.47
YELP (YELP) – EPS Est. $0.17