Friday, July 19, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Renewed optimism on a rate cut is fuling markets higher following comments from Fed Gov. Williams yesterday. Tensions in the Middle East are driving crude oil prices higher following the US downing of an Iranian drone in the region. Asian markets settled the session higher.
Technicals
The SPY continued down to start yesterday’s session then moved higher just above the 20EMA in the afternoon. Support will first be found at the 20EMA at 296.29, followed by gap entry at $294.33, then gap fill at $293.55, the 100SMA at $287.38, $281.20 pivot, and the 200SMA at $277.90. 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**
Economic Calendar
10:00 Consumer Sentiment
11:05 Fed Pres. Bullard Speaks
4:05 Fed Pres. Rosengren Speaks
Notable Earnings Before Open
American Express Company (AXP) – EPS Est. $2.05
Kansas City Southern (KSU) – EPS Est. $1.61
Notable Earnings After Close
NONE
