Thursday, July 25, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Today will continue to be a busy earnings day with many companies reporting their Q2 bottom line. TSLA is lower after reporting disappointing earnings and the departure of their CTO even after record car deliveries in Q2. Asian markets settled the session higher.
Technicals
The SPY continued to trade higher in yesterday’s session moving through the $299.6 pivot and ascending resistance. Support will first be found at ascending resistance of $300.17 followed by $299.6, 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**
TSLA, PTC, SAVE
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 219k
8:30 International Trade In Goods
8:30 Durable Goods Orders
Notable Earnings Before Open
3M (MMM) – EPS Est. $2.04
Southwest Airlines (LUV) – EPS Est. $1.35
Bristol-Myers Squibb (BMY) – EPS Est. $1.06
American Airlines (AAL) – EPS Est. $1.77
Notable Earnings After Close
Amazon.com (AMZN) – EPS Est. $5.29
Alphabet (GOOGL) – EPS Est. $11.49
Intel (INTC) – EPS Est. $0.89
Starbucks (SBUX) – EPS Est. $0.72