Wednesday, February 12, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets continue to push higher with the overshadowing of the unknown economic impact of the coronavirus pandemic. Asian stocks settled the session higher.
Technicals
The SPY continued to show strength in yesterday’s session posting new highs but dropped lower into the afternoon finding support at the previous all-time highs. Support will first be found at previous highs of 334.75, then gap entry of $330.67, gap fill at $330.01, the 20EMA at $329.23, $327, then $319.50, $315.48, then the 100SMA at $312.76. Resistance will be found at all-time highs of $337.02.
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**
BBBY, TEVA, LYFT, SHOP
Economic Calendar
8:30 Fed Pres. Harker Speaks
9:00 Fed Pres. Daly Speaks
10:00 Fed Chair Powell Speaks
10:30 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
Teva Pharmaceuticals (TEVA) – EPS Est. $0.59
Shopify (SHOP) – EPS Est. $0.23
CVS Health (CVS) – EPS Est. $1.68
Notable Earnings After Close
Cisco (CSCO) – EPS Est. $0.76
NetApp (NTAP) – EPS Est. $1.18
MGM Resorts (MGM) – EPS Est. $0.24
TripAdvisor (TRIP) – EPS Est. $0.33
