Wednesday, July 17, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are slightly higher and European markets are lower in early trading. Banks continue to report Q2 earnings and tech companies start to take focus with NFLX reporting tonight. A rise in crude oil prices is helping hold markets up following an unexpected inventory draw. Asian markets settled the session lower.
Technicals
The SPY tested and failed to hold the 300.8 support level in yesterday’s session and continued lower to the $299.6 pivot. Support will first be found with at $299.6, then the 20EMA at 295.83, followed by gap entry at $294.33, then gap fill at $293.55, the 100SMA at $287.00, $281.20 pivot, and the 200SMA at $277.83. Resistance will be time highs at $301.13
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**
CSX, NUS
Economic Calendar
8:30 Housing Starts
10:30 Weekly EIA Petroleum Status Report
12:30 Fed Pres. George Speaks
Notable Earnings Before Open
Bank Of America (BAC) – EPS Est. $0.70
PNC Bank (PNC) – EPS Est. $2.83
Notable Earnings After Close
Netflix (NFLX) – EPS Est. $0.56
International Business Machines (IBM) – EPS Est. $3.06
eBay (EBAY) – EPS Est. $0.49
United Rentals, Inc. (URI) – EPS Est. $4.48
Alcoa Corporation (AA) – EPS Est. $-0.34
