Thursday, November 7, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets are higher this morning following a report from a Chinese spokesperson that China and the US have agreed to roll back tariffs incrementally on each other in an effort to make a phase 1 agreement. Asian stocks settled the session higher.
Technicals
The SPY broke the trendline support in yesterday’s session but reclaimed the level into the afternoon and is gapping higher this morning. Support will first be found at ascending support of $306.75, followed by $304.50, ascending support of $303.20, $302.20s, the 20EMA at $301.97, $298.50, $296.97, the 100SMA at $296.06, gap entry at $295.57, then gap fill at $294.21, $293.85, the 200SMA at $289.09. Resistance will be found at all-time highs of $308.
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**
EXPE, QCOM, ROKU
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 215k
1:05 Fed Pres. Kaplan Speaks
7:10 Fed Pres. Bostic Speaks
Notable Earnings Before Open
Ralph Lauren (RL) – EPS Est. $2.39
Cardinal Health (CAH) – EPS Est. $1.09
Notable Earnings After Close
Walt Disney (DIS) – EPS Est. $0.94
Activision Blizzard (ATVI) – EPS Est. $0.23
Trade Desk (TTD) – EPS Est. $0.67
Take-Two Interactive (TTWO) – EPS Est. $1.68
Yelp (YELP) – EPS Est. $0.19
Stamps.com (STMP) – EPS Est. $0.71
