Wednesday June 5, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets continue to rise following Fed comments about possibly lowering interest rates in the near term. Asian markets settled the session higher.
Technicals
The SPY gapped higher in yesterday’s session opening at the 200SMA and continuing higher through the 100SMA to close above the levels. Support will first be found at the 100SMA at $279.73, followed by the 200SMA at $277.22, $275.50, then $272.50, $270, $268. Resistance first lies at $281.2, then the 20EMA at $282.50, pivot and gap entry of $284.20 and gap fill at $285.10.
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**
CRM, ROKU, AMD
Economic Calendar
8:15 ADP Employment Report
9:45 Fed Pres. Clarida Speaks
9:45 Fed Pres. Bostic Speaks
10:00 Fed Pres. Bowman Speaks
1:15 Fed Pres. Rosengren Speaks
Notable Earnings Before Open
American Eagle Outfitters (AEO) – EPS Est. $0.21
Campbell Soup (CPB) – EPS Est. $0.46
Notable Earnings After Close
Five Below (FIVE) – EPS Est. $0.35
