Monday, August 5, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Markets continue their drop as tensions between the US and China increase in regard to trade. China devalued its yuan to below 7 to the USD in a retaliation effort against the tariff ramps. Asian markets settled the session lower.
Technicals
The SPY continued to drop through the 50SMA in Friday’s session and consolidated. Support will first be found with the 100SMA at $289.63, then $288.44, descending support at $286.50 and the 200SMA at $278.69. Resistance will be found at $293.20, $294.45,$297, followed by the 20EMA at $297.56, 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**
AMD, AAPL, ALLK, CAT
Economic Calendar
10:00 ISM Non-Manufacturing Index
1:30 Fed Pres. Brainard Speaks
Notable Earnings Before Open
Tyson Foods (TSN) – EPS Est. $1.47
Notable Earnings After Close
Marriott (MAR) – EPS Est. $1.56
Take-Two Interactive Software (TTWO) – EPS Est. $-0.27
Avis Budget Group(CAR) – EPS Est. $0.73
