Thursday, July 18, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Investors remain concerned over US/China trade talks as some weaker than expected 2nd quarter earnings results are released. Tech giant NFLX reported disappointing earnings last night sending the stock down 11% in premarket citing increased competition in the sector and ½ the number of new subscribers than expected. Asian markets settled the session lower.
Technicals
The SPY accelerated to the downside below the 299.6 pivot area in yesterday’s session. Support will first be found at the 20EMA at 296.01, followed by gap entry at $294.33, then gap fill at $293.55, the 100SMA at $287.19, $281.20 pivot, and the 200SMA at $277.86. Resistance will be found at $299.6 and $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**
MS, URI, NFLX
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 215k
8:30 Philidelphia Fed Business Outlook Survey
2:15 Fed Pres. Williams Speaks
Notable Earnings Before Open
UnitedHealth (UNH) – EPS Est. $3.46
Morgan Stanley (MS) – EPS Est. $1.13
Notable Earnings After Close
Microsoft (MSFT) – EPS Est. $1.21
Skechers U.S.A. (SKX) – EPS Est. $0.33
