Wednesday, December 4, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are slightly higher in early trading. Uncertainty remains with the fate of a near term US/China phase 1 trade deal. Asian stocks settled the session mostly lower.
Technicals
The SPY gapped lower to start yesterday’s session and tested and held the critical complex ascending support line at $307.50. Support will first be found at 309.06, ascending support $307.60s, $302.20s, $298.50 and the 100SMA at $298.89. Resistance will be found at the 20EMA at $310.10, followed by ascending resistance at $313.2 and all-time highs of $315.48.
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**
WDAY, GIII
Economic Calendar
8:15 ADP Employment Report
10:00 Fed Pres. Quarles Speaks
10:30 Weekly EIA Petroleum Report
Notable Earnings Before Open
Campbells Soup (CPB) – EPS Est. $0.69
Notable Earnings After Close
RH (RH) – EPS Est. $2.22
Slack Technologies (WORK) – EPS Est. $-0.09
Five Below (FIVE) – EPS Est. $0.17