Wednesday, April 15, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Investors continue to watch the earnings season kickoff with banks reporting. Markets are weak this morning following a drop in crude oil prices and economic data. Asian stocks settled the session mostly lower.
Technicals
The SPY continued to exhibit strength in yesterday’s session and closed the day at the highs and we are gapping lower to start the day today. Support will first be found at $271.3, then the 20EMA at $267.36, descending support near $265, $256.35, $247.68, followed by $242.21, $233.76, $228.02, and $218.26. Resistance will be found at $281.5, ascending resistance at $287.5s, gap fill at $290.23, and the 200SMA at $300.97.
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**
BAC, JBLU, C
Economic Calendar
8:30 Retail Sales
9:15 Industrial Production
10:30 Weekly EIA Petroleum Status Report
1:00 Fed Pres. Bostic Speaks
Notable Earnings Before Open
Bank of America (BAC) – EPS Est. $0.42
Citigroup (C) – EPS Est. $0.89
Goldman Sachs (GS) – EPS Est. $2.83
UnitedHealth (UNH) – EPS Est. $3.65
Notable Earnings After Close
Bed Bath & Beyond (BBBY) – EPS Est. $0.21
