Monday, April 20, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Markets are lower this morning following a drop in crude oil prices to levels not seen since 1999. Investors will continue to watch forward guidance on companies as they report earnings this quarter. Asian stocks settled the session mostly lower.
Technicals
The SPY exhibited strength in Friday’s session gapping higher and continuing higher finding resistance at ascending resistance near the $287.75 level. Support will first be found at $281.5, $275.52, $271.3, then the 20EMA at $270.21, $256.35, $247.68, followed by $242.21, $233.76, $228.02, and $218.26. Resistance will be found at ascending resistance at $288, gap fill at $290.23, and the 200SMA at $300.84.
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**
UAL, OXY, EXEL
Economic Calendar
NONE
Notable Earnings Before Open
NONE
Notable Earnings After Close
International Business Machines (IBM) – EPS Est. $1.70
