Monday, July 29, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are flat in early trading. Investors are awaiting big news from the FOMC this week. The market has been pricing in the high probability of a rate cut this meeting from the Fed. Overshadowing this is the continuation of negotiations between China and the US on Tuesday in Shanghai. Asian markets settled the session lower.
Technicals
The SPY was strong in Friday’s session climbing through the day and posting new all time highs. Support will first be found at $301, then ascending resistance of $300.33 followed by $299.6, the 20EMA at 297.97, gap entry at $294.33, then gap fill at $293.55, the 100SMA at $288.61, $281.20 pivot, and the 200SMA at $278.20. Resistance will be found at $302.23
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**
PFE
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
Illumina (ILMN) – EPS Est. $1.32
NXP Semiconductors (NXPI) – EPS Est. $1.48
Beyond Meat (BYND) – EPS Est. $-0.08
