Wednesday, February 26, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Markets continued to plunge in yesterday’s session on coronavirus fears. This is the largest two-day decline since 2015. The spread of the virus continues and is impacting global supply chains. Asian stocks settled the session lower.
Technicals
The SPY remained weak in yesterday’s session dropping 12 points on heavy volume and through the 100SMA. Support will first be found at 309.65, then the 200SMA at $304.11. Resistance will be found at the 100SMA at $315.95, $320.73, $327, the 20EMA at $330.11, $332.95, $334.75, 337.5s and 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**
WB, TJX, MRNA
Economic Calendar
9:35 Fed Pres. Kaplan Speaks
10:00 New Home Sales
10:30 Weekly EIA Petroleum Status Report
1:00 Fed Pres. Kashkari Speaks
Notable Earnings Before Open
TJX (TJX) – EPS Est. $0.77
J.M. Smucker (SJM) – EPS Est. $2.22
Weibo (WB) – EPS Est. $0.72
Notable Earnings After Close
Square (SQ) – EPS Est. $0.20
Etsy (ETSY) – EPS Est. $0.17
Marriott International (MAR) – EPS Est. $1.46