Wednesday May 29, 2019
Economic Calendar & Watch List
US Futures and European markets are lower in early trading. Tensions escalated overnight between China and the US as China’s state controlled news paper ran an article suggesting they should/could ban some key mineral exports to the US. Asian markets settled the session mostly lower.
The SPY was weak in yesterday’s session selling into the afternoon and failing the critical $281.2 pivot area. Support will first be found at $281.20, $280, then the 100SMA at $278.51, the 200SMA at $277.35, and $275.50. Resistance first lies at $281.2, $284.21, $285.1, then the 20EMA at $285.72, $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**
Notable Earnings Before Open
Canada Goose (GOOS) – EPS Est. $0.02
DICK’S Sporting Goods (DKS) – EPS Est. $0.59
Notable Earnings After Close
Palo Alto Networks (PANW) – EPS Est. $1.25