Friday, July 26, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Investors are awaiting GDP data for more insight into US economic growth. This is a key piece of information that will factor into the potential rate cuts that are being priced in for next week by the FOMC. Asian markets settled the session mixed.
Technicals
The SPY traded lower in yesterday’s session finding support at the $299.6 pivot. Support will first be found at ascending resistance of $300.23 followed by $299.6, the 20EMA at 297.54, followed by gap entry at $294.33, then gap fill at $293.55, the 100SMA at $288.38, $281.20 pivot, and the 200SMA at $278.12. Resistance will be found at $301.44
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**
TWTR, SBUX, GT
Economic Calendar
8:30 GDP, exp. 1.9%
Notable Earnings Before Open
McDonald’s Corporation (MCD) – EPS Est. $2.06
Twitter, Inc. (TWTR) – EPS Est. $0.09
Yandex N.V. (YNDX) – EPS Est. $0.37
Notable Earnings After Close
NONE
