Wednesday May 15, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are slightly lower and European markets are higher in early trading. Investors still remain cautious following increased tensions between the US and China in regard to trade. There has been some relief with word that Sec. Mnuchin will soon travel to Bejing to continue the trade negotiations. Asian markets settled the session mostly higher.
Technicals
The SPY consolidated in yesterday’s session following the decline that started in the beginning of May. Support will first be found at $280, the 200SMA at $277.28, and $275.50. Resistance first lies at $282.5, $287.1, followed by the 20EMA at $288.30, $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**
M, TLRY, A, AAPL
Economic Calendar
8:30 Retail Sales
9:15 Industrial Production
9:30 Fed Pres. Quarles Speaks
1:00 Fed Pres. Barkin Speaks
Notable Earnings Before Open
Alibaba (BABA) – EPS Est. $0.99
Macy’s (M) – EPS Est. $0.33
Notable Earnings After Close
Cisco Systems (CSCO) – EPS Est. $0.77
Netease.com (NETE) – EPS Est. $1.86
