Thursday, November 21, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Markets dropped in yesterday’s session following news that a US/China trade deal may be further off than anticipated. Retail earnings continue to come in where investors will be able to look into the outlook that companies have with tariffs in place and a slowdown in the global economy. Asian stocks settled the session mostly lower.
Technicals
The SPY dropped in yesterday’s session following trade news and found support at the ascending support line. Support will first be found at ascending support of $309.50, followed by the 20EMA at $307.24, $302.20s, $298.50, $296.97, the 100SMA at $297.76, gap entry at $295.57, then gap fill at $294.21. Resistance will be found at all-time highs of $312.69.
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**
M, LB
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 217k
8:30 Philidelphia Business Outlook Survey
8:30 Fed Pres. Meister Speaks
10:00 Existing Home Sales
10:10 Fed Pres. Kashkari Speaks
Notable Earnings Before Open
Macy’s (M) – EPS Est. $0.01
BJ’s Wholesale (BJ) – EPS Est. $0.40
Notable Earnings After Close
Nordstrom (JWN) – EPS Est. $0.65
Gap (GPS) – EPS Est. $0.51
Intuit (INTU) – EPS Est. $0.25
Williams-Sonoma (WSM) – EPS Est. $1.00