Tuesday, July 16, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European markets are slightly higher in early trading. Earnings season gets into full swing with some of the nation’s largest banks continuing to report their Q2 data this morning. Investors will also be watching the retail sales numbers that will be released for insight into consumer spending and gauging the strength of the economy. Asian markets settled the session slightly mostly lower.
Technicals
The SPY consolidated around the important $300 pivot in Friday’s session and pushed higher through that level in the afternoon. Support will first be found with the 20EMA at 294.86, followed by gap entry at $294.33, then gap fill at $293.55, the 100SMA at $286.56, $281.20 pivot, and the 200SMA at $277.73. Resistance will be time highs at $300.73
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**
WFC, GS, JNJ, DPZ
Economic Calendar
8:15 Fed Pres. Bostic Speaks
8:30 Retail Sales
9:15 Industrial Production
9:20 Fed Pres. Bostic Speaks
10:05 Fed Pres. Bostic Speaks
12:20 Fed Pres. Kaplan Speaks
1:00 Fed Chair Powell Speaks
3:30 Fed Pres. Evans Speaks
Notable Earnings Before Open
J P Morgan Chase (JPM) – EPS Est. $2.50
Goldman Sachs (GS) – EPS Est. $4.82
Johnson & Johnson (JNJ) – EPS Est. $2.42
Wells Fargo (WFC) – EPS Est. $1.16
Notable Earnings After Close
CSX (CSX) – EPS Est. $1.11
United Airlines (UAL) – EPS Est. $4.06
