Monday May 6, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are sharply lower in early trading. Markets are sharply lower this morning following comments from Pres. Trump regarding possible tariff hikes on Chinese goods. This is ahead of negotiations that were going to continue in Washington on Wednesday. Asian markets settled the session lower.
Technicals
The SPY gapped higher and continued up in Friday’s session. This morning we are looking to open at the $289.5 support level following tariff comments from Pres. Trump. Support will first be found at $289.4, then $287.1, $286.6, $281.2, and the 200SMA at $277.03. Resistance lies with the 20EMA at $290.46, $293.2, and all time highs of $294.95
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**
BABA, TVIX,
Economic Calendar
6:00 Fed Pres. Evans Speaks
9:30 Fed Pres. Harker Speaks
Notable Earnings Before Open
Sysco (SYY) – EPS Est. $0.70
Tyson Foods (TSN) – EPS Est. $1.12
Notable Earnings After Close
Hertz Global (HTZ) – EPS Est. $-1.32
Guess? (GES) – EPS Est. $-0.26
