Thursday June 27, 2019
Economic Calendar & Watch List
US Futures and European markets are slightly lower in early trading. Investors are cautiously optimistic on US/China trade with reports of a potential truce on additional tariffs as the G20 summit approaches. Pres. Trump and Chinese Pres. Xi are scheduled to meet on Saturday to discuss trade. Asian markets settled the session mostly higher.
The SPY continued to remain weak in yesterday’s session consolidating near the former descending resistance. Support will first be found at the 20EMA at 289.31, the 100SMA at $283.97, $281.20 pivot, and the 200SMA at $277.38. 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**
$ZGNX $CAG $KBH $WBA $JWN
8:30 GDP, exp. 3.1%
8:30 Weekly Unemployment Claims, exp. 218k
Notable Earnings Before Open
Walgreens Boots Alliance (WBA) – EPS Est. $1.42
Conagra Brands (CAG) – EPS Est. $0.42
Notable Earnings After Close
Nike (NKE) – EPS Est. $0.66