Tuesday June 25, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are slightly lower in early trading. Investors will be watching Fed Chair Powell’s speech to see if he will reinforce his dovish statements on future policy. Geopolitical risks continue to rise following the US imposing new sanctions on Iran and the continued trade war with China. Asian markets settled the session lower.
Technicals
The SPY traded in a tight range in yesterday’s session and continued to consolidate below the all time highs. Support will first be found the 20EMA at 289.02, the 100SMA at $283.56 ,$281.20 pivot, and the 200SMA at $277.35. Resistance will be time highs at $296.31
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**
ABBV
Economic Calendar
8:45 Fed Pres. Williams Speaks
10:00 New Home Sales
10:00 Consumer Confidence
12:00 Fed Pres. Bostic Speaks
1:00 Fed Chair Powell Speaks
6:30 Fed Pres. Bullard Speaks
Notable Earnings Before Open
Lennar (LEN) – EPS Est. $1.13
Notable Earnings After Close
Micron Technology (MU) – EPS Est. $0.75
FedEx (FDX) – EPS Est. $4.81
