Tuesday May 14, 2019
Economic Calendar & Watch List
US Futures and European markets are higher in early trading. Markets are taking a pause from their declines following positive comments from Pres. Trump regarding trade negotiations with China and an upcoming meeting at the G-20 summit. Investors are still concerned as the Trump Administration has started to impose more tariffs on the remaining $300b of Chinese imports. Asian markets settled the session mostly higher.
The SPY gapped sharply lower to start yesterday’s session and continued lower settling near the $280 pivot. Support will first be found at $280, the 200SMA at $277.30, and $275.50. Resistance first lies at $282.5, $287.1, followed by the 20EMA at $288.81, $289.4, $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**
CYBR, FB, AAPL
3:00 Fed Pres. Williams Speaks
12:45 Fed Pres. George Speaks
Notable Earnings Before Open
Ralph Lauren (RL) – EPS Est. $0.93
CyberArk (CYBR) – EPS Est. $0.41
Notable Earnings After Close
Tilray (TLRY) – EPS Est. $-0.25