Wednesday July 10, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Investors will be watching Fed Chair Powell start his testimony before congress today at 10am followed by the FOMC minutes release at 2pm. They will be looking for additional information regarding rate and other policy change in the near future. Asian markets settled the session lower.
Technicals
The SPY gapped lower to start yesterday’s session then rallied through the day ending the session on the highs. Support will first be found with gap entry at $294.33, followed by gap fill at $293.55, then the 20EMA at 293.21, the 100SMA at $285.87, $281.20 pivot, and the 200SMA at $277.62. Resistance will be time highs at $298.82
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**
LEVI, AMD
Economic Calendar
10:00 Fed Chair Powell Speaks
10:30 Weekly EIA Petroleum Status Report
1:30 Fed Pres. Bullard Speaks
2:00 FOMC Minute Release
Notable Earnings Before Open
NONE
Notable Earnings After Close
Bed Bath & Beyond (BBBY) – EPS Est. $0.08
