Wednesday June 26, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are slightly higher in early trading. Investors are upbeat on comments from Trade Sec. Mnuchin stating that US and China are very close to making a trade deal. There was weakness in markets in yesterday’s session following remarks from Fed Chair Powell regarding interest rate cuts in July. Asian markets settled the session mostly lower.
Technicals
The SPY broke down out of its recent consolidation in yesterday’s session on higher than average volume. Support will first be found the 20EMA at 289.19, the 100SMA at $283.77, $281.20 pivot, and the 200SMA at $277.36. 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**
$SPY $MU $AAPL $BYND $FDX
Economic Calendar
8:30 Durable Goods Orders
8:30 International Trade In Goods
10:30 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
General Mills (GIS) – EPS Est. $0.76
Paychex (PAYX) – EPS Est. $0.65
Notable Earnings After Close
NONE