Thursday, January 23, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Markets are lower this morning following concern over the Coronavirus that could spread to a global pandemic. Earning continues to be reported and investors are watching to see any signs of weakness in this Q4 and future forecasts. Asian stocks settled the session lower.
Technicals
The SPY opened higher in yesterday’s session then faded through the session and this morning we are looking to test the ascending support trendline. Support will first be found at ascending support of $331.30, then $327 and the 20EMA at $325.87, 315.48, gap fill at $312.5, $309.06, 100SMA at $308.33. Resistance will be found at all-time highs of $332.95.
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**
FCX, SLM, TER
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 213k
11:00 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
Procter & Gamble (PG) – EPS Est. $1.37
American Airlines (AAL) – EPS Est. $1.18
Southwest Airlines (LUV) – EPS Est. $1.11
Notable Earnings After Close
Intel (INTC) – EPS Est. $1.24
