Wednesday February 20, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are slightly lower and European shares are higher in early trading. Investors remain optimistic that a deal may be reached in the negotiations that are ongoing between the US and China. Eyes will be on the release of the FOMC meeting minutes for more insight into the reasoning of why they are potentially halting near term rate hikes. Asian markets settled the session mostly higher.
Technicals
The SPY continued to trade in a range above the $275.5 pivot and below the $280 resistance over the past few sessions. Support is again first found at the $275.5 pivot, then the 200SMA at $274.30, followed by the confluence at $270 with the 20EMA, then the 100SMA at $268.90, 268, and $265. It continues at $263, $260, $254.67, $253, $250, $248, $242 and $240. Resistance first lies at $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**
GRMN, CVS
Economic Calendar
8:55 Redbook
2:00 FOMC Meeting Minutes
Notable Earnings Before Open
CVS Health (CVS) – EPS Est. $2.07
Notable Earnings After Close
NONE
