Thursday July 11, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. The S&P 500 crossed the 3000 milestone in yesterday’s session following dovish comments from Fed Chair Powell on monetary policy. A rise in crude prices is also helping fuel markets higher as the gulf region braces for storms along with geopolitical risk in the Middle East. Asian markets settled the session higher.
Technicals
The SPY exhibited strength in yesterday’s session posting a new all time high early in the session. Support will first be found with gap entry at $294.33, then the 20EMA at 293.72, followed by gap fill at $293.55, the 100SMA at $286.11, $281.20 pivot, and the 200SMA at $277.64. Resistance will be time highs at $299.66
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**
FAST, BBBY, LEVI
Economic Calendar
8:30 Consumer Price Index, exp. 0.0%
8:30 Weekly Unemployment Claims, exp. 220k
10:00 Fed Chair Powell Speaks
11:00 Fed Pres. Williams Speaks
1:30 Fed Pres. Williams Speaks
1:30 Fed Pres. Quarles Speaks
5:00 Fed Pres. Kashkari Speaks
Notable Earnings Before Open
Delta Air Lines (DAL) – EPS Est. $2.30
Fastenal (FAST) – EPS Est. $0.37
Notable Earnings After Close
NONE