Friday, January 24, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets are higher this morning as Q4 earnings results continue to come in. Gains were limited by the growing concern over the spread of the coronavirus following additional confirmed cases in the United States. Asian stocks settled the session higher.
Technicals
The SPY was lower in yesterday’s session and reclaimed that ascending support/resistance line and closed above it. Support will first be found at ascending support of $331.40, then $327 and the 20EMA at $326.43, 315.48, gap fill at $312.5, $309.06, 100SMA at $308.73. 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**
INTC, SYF, AVGO, DFS
Economic Calendar
9:45 PMI Composite Flash
Notable Earnings Before Open
American Express (AXP) – EPS Est. $2.00
Notable Earnings After Close
NONE
