Thursday, February 20, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Markets are lower this morning following some weaker than expected corporate earnings this season and the continued unknown economic impact over the coronavirus. Goldman Sachs is now stating that a market correction of 10% from its peak is probable. Asian stocks settled the session mixed.
Technicals
The SPY exhibited strength in yesterday’s session pushing to new highs. Support will first be found at previous highs of $337.5s, 334.75, then the 20EMA at $332.47, gap entry at $330.67, gap fill at $330.01, $327, then $319.50, $315.48, then the 100SMA at $314.72. Resistance will be found at all-time highs of $339.08.
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**
VIAC, LB, SIX, STMP
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 211k
8:30 Philidelphia Business Outlook Survey
11:00 Weekly EIA Petroleum Status Report
1:20 Fed Pres. Barkin Speaks
Notable Earnings Before Open
Domino’s Pizza (DPZ) – EPS Est. $2.93
Six Flags (SIX) – EPS Est. $0.13
Notable Earnings After Close
Dropbox (DBX) – EPS Est. $0.14
Zscaler (ZS) – EPS Est. $0.03
