Wednesday, July 24, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Trade talks are scheduled to resume next week between China and the US which is helping push Asian markets higher. Tech is on Capitol Hill as DOJ started its investigation into competition issues that have arisen from the giants such as GOOGL, AMZN, AAPL and FB. Asian markets settled the session higher.
Technicals
The SPY traded higher in yesterday’s session moving up to the ascending resistance and $299.6 pivot. Support will first be found at the 20EMA at 296.85, followed by gap entry at $294.33, then gap fill at $293.55, the 100SMA at $287.96, $281.20 pivot, and the 200SMA at $278. 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**
IRBT, UPS, CAT, TUP, FB
Economic Calendar
9:45 PMI Composite Flash
10:00 New Home Sales
10:30 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
Boeing (BA) – EPS Est. $1.85
United Parcel Service (UPS) – EPS Est. $1.93
Caterpillar (CAT) – EPS Est. $3.12
Notable Earnings After Close
Facebook (FB) – EPS Est. $1.90
PayPal (PYPL) – EPS Est. $0.56
Tesla (TSLA) – EPS Est. $-1.55
Las Vegas Sands (LVS) – EPS Est. $0.81
