Wednesday May 22, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are and European markets are lower in early trading. Tensions remain high between China and the US as another Chinese company was blacklisted by the US Government from doing business with the US. Investors concerns over this have escalated as the trade talks have appeared to stall. Investors will also be watching the FOMC meeting release for any change in rate policy or other outlook. Asian markets settled the session mixed.
Technicals
The SPY remains between the moving averages and traded in a tight, choppy range in yesterday’s session. Support will first be found at $283, $281.20, $280, the 200SMA at $277.40, and $275.50. Resistance first lies at $286.7, $287, followed by the 20EMA at $287.31, $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**
QCOM, JWN, PSTG, SE
Economic Calendar
10:00 Fed Pres. Williams Speaks
10:10 Fed Pres. Bostic Speaks
10:15 Fed Pres. Kaplan Speaks
2:00 FOMC Meeting Release
4:00 Fed Pres. Bostic Speaks
Notable Earnings Before Open
Target (TGT) – EPS Est. $1.43
Advance Auto Parts (AAP) – EPS Est. $2.36
Notable Earnings After Close
NetApp (NTAP) – EPS Est. $1.26
L Brands (LB) – EPS Est. $0.00
Ctrip.com (CTRP) – EPS Est. $0.23
