Thursday, January 16, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets are higher following the signing of a phase 1 trade agreement between China and the US. Chinese Pres. Xi promised $200b in purchase of American products with the US rolling back some tariffs. Asian stocks settled the session higher.
Technicals
The SPY continued to push new highs in yesterday’s session, remaining below the ascending support line. Support will first be found at $327 and the 20EMA and pivot at $323.16, 315.48, gap fill at $312.5, $309.06, 100SMA at $306.57. Resistance will be found at all-time highs of $329.02 and ascending resistance of 329.20.
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**
MS, BK, SIG, YNDX
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 215k
8:30 Philadelphia Business Outlook Survey
8:30 Retail Sales
Notable Earnings Before Open
Morgan Stanley (MS) – EPS Est. $0.98
Notable Earnings After Close
CSX (CSX) – EPS Est. $0.97
