Monday, January 21, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Investors are concerned about the spread of a new virus in China and the potential economic impact that it brings. The impeachment trial of Pres. Trump begins today at 1pm EST. Investors will be watching media streaming giant NFLX as it reports earnings tonight after the bell. Asian stocks settled the session lower.
Technicals
The SPY opened higher and consolidated in Friday’s session and held the new highs into the close. Support will first be found at ascending support of $331.30, then $327 and the 20EMA at $324.66, 315.48, gap fill at $312.5, $309.06, 100SMA at $307.47. Resistance will be found at all-time highs of $332.18.
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**
TAL
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
Netflix (NFLX) – EPS Est. $0.52
International Business Machines (IBM) – EPS Est. $4.69
United Air Lines (UAL) – EPS Est. $2.64