Thursday, August 29, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets are up this morning on the news that China stated they would not immediately retaliate against the latest tariff increase from Pres. Trump. Investors will also be watching GDP and Unemployment data that is due to be released this morning. Asian stocks settled the session mixed.
Technicals
The SPY traded slightly higher in yesterday’s session, continuing to consolidate near the $288.4 pivot. This morning the SPY is looking to open above the 20EMA and 100SMA support. Support will first be found at the 100SMA of 290.71, followed by the 20EMA at $290.25, $288.44, then ascending support of $284, $281.72, the 200SMA at $280.08 and $275.45. Resistance will be found at $293.20, $294.45, $297, $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**
OLLI, BBY, BOX, DG
Economic Calendar
8:30 GDP, exp. 2.1%
8:30 Weekly Unemployment Claims, exp. 213k
8:30 International Trade In Goods
Notable Earnings Before Open
Dollar General (DG) – EPS Est. $1.58
Dollar Tree (DLTR) – EPS Est. $0.96
Best Buy (BBY) – EPS Est. $0.99
Burlington Stores (BURL) – EPS Est. $1.15
Notable Earnings After Close
Workday (WDAY) – EPS Est. $-0.33
Ulta Beauty (ULTA) – EPS Est. $2.79
