Wednesday May 8, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are lower and European markets are flat in early trading. Investors remain cautious with the trade negotiations that resume today between China and the US in Washington. Trade Rep. Lighthizer confirmed that tariff will take effect on Friday if a deal is not reached. Asian markets settled the session lower.
Technicals
The SPY again gapped below the 20EMA to start yesterday’s session then tested and held the $286 support level on increased volume. Support will first be found at $287.1, $286.6, $281.2, and the 200SMA at $277.19. Resistance first lies at $289.4, followed by the 20EMA at $290.42, $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**
EA, NVTN, INGN
Economic Calendar
8:30 Fed Gov. Brainard Speaks
10:30 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
Autohome (ATHM) – EPS Est. $0.80
McKesson (MCK) – EPS Est. $3.66
Notable Earnings After Close
Roku (ROKU) – EPS Est. $-0.24
Etsy (ETSY) – EPS Est. $0.14
Walt Disney (DIS) – EPS Est. $1.59
