Tuesday February 26, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are lower in early trading. Investors will be watching to see what Fed Chair Powell says in his semiannual address to Congress today for any potential change in fiscal policy. Elon Musk is in the news again following a tweet that is contested by the SEC in which they state he violated the terms of their settlement. Asian markets settled the session lower.
Technicals
The SPY touched and rejected the $281.2 pivot level in yesterday’s session. Support is again first found at the near term support of $276.1 followed closely by the $275.5 pivot, then the 200SMA at $274.56, followed by the 20EMA at $273.08, $270, and the 100SMA at $268.43. 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**
MNK, ETSY, CAT, M
Economic Calendar
8:30 Housing Starts
8:55 Redbook
9:45 Fed Chair Powell Speaks
10:00 Consumer Confidence
Notable Earnings Before Open
Home Depot (HD) – EPS Est. $2.16
Macy’s (M) – EPS Est. $2.65
Autohome (ATHM) – EPS Est. $1.11
Notable Earnings After Close
Palo Alto Networks (PANW) – EPS Est. $1.22
Weight Watchers (WTW) – EPS Est. $0.60
Papa John’s (PAPA) – EPS Est. $0.16
