Thursday February 21, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are flat in early trading. US and China resume trade negotiations today in Washington ahead of the March 2 deadline imposed by Pres. Trump. Companies continue to revise forward outlook into 2019 with many dropping projections which in turn is placing pressure on markets. Asian markets settled the session mixed.
Technicals
The SPY was volatile following the FOMC release yesterday afternoon and remained below the $281 pivot. Support is again first found at the $275.5 pivot, then the 200SMA at $274.38, followed by the 20EMA at $271.09, $270, the 100SMA at $268.78, 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**
CAR, DPZ, NCLH, MIC,
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 225k
8:30 Durable Goods Orders
10:00 Existing Home Sales
Notable Earnings Before Open
Domino’s Pizza (DPZ) – EPS Est. $2.66
Hormel Foods (HRL) – EPS Est. $0.43
Notable Earnings After Close
Roku (ROKU) – EPS Est. $0.02
Intuit (INTU) – EPS Est. $0.56
Baidu (BIDU) – EPS Est. $1.16
Dropbox (DBX) – EPS Est. $-0.05
