Hot Stocks To Watch 8/1/2019

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Thursday, August 1, 2019

 

 

Economic Calendar & Watch List

 

Morning Notes

US Futures and European markets are slightly in early trading. Markets were lower in yesterday’s session following comments from the Fed on future rate cuts not being guaranteed.  Asian markets settled the session mostly lower.

 

Technicals

The SPY traded lower on above-average volume in yesterday’s session following the FOMC release. The SPY broke the ascending support line on the initial news release and then continued lower through the 20EMA to find support at the $297 pivot area. Support will first be found at $297, followed by gap entry at $294.33, then gap fill at $293.55, the 100SMA at $289.34, $281.20 pivot, and the 200SMA at $278.50. Resistance will be found at the 20EMA of $298.43, then $299.6, $301 and $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**

W, WLL, QCOM, GM

 

Economic Calendar

  8:30  Weekly Unemployment Claims, exp. 214k

10:00  ISM Manufacturing Index

10:00  Construction Spending

 

Notable Earnings Before Open

Verizon Communications (VZ) – EPS Est. $1.20

Cigna (CI) – EPS Est. $3.72

General Motors (GM) – EPS Est. $1.43

Shopify (SHOP) – EPS Est. $-0.31

 

Notable Earnings After Close

Square (SQ) – EPS Est. $0.01

Universal Display (OLED) – EPS Est. $0.46

Etsy (ETSY) – EPS Est. $0.14

United States Steel (X) – EPS Est. $0.40

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