Tuesday, July 30, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. The FOMC meeting begins today where investors will be watching for the expected announcement on Wednesday of a rate cut. Trade negotiations continue today between the US and China in Shanghai. Asian markets settled the session mostly higher.
Technicals
The SPY consolidated in yesterday’s session just above the $301 pivot area. Support will first be found at ascending resistance of $300.33 followed by $299.6, the 20EMA at 297.97, followed by 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**
SSNC, UAA, PG
Economic Calendar
8:30 Personal Income and Outlays
10:00 Consumer Confidence
Notable Earnings Before Open
Procter & Gamble (PG) – EPS Est. $1.06
Merck (MRK) – EPS Est. $1.16
Altria (MO) – EPS Est. $1.10
Under Armour (UAA) – EPS Est. $-0.05
Notable Earnings After Close
Apple (AAPL) – EPS Est. $2.11
Advanced Micro Devices (AMD) – EPS Est. $0.05
Electronic Arts (EA) – EPS Est. $-0.15
