Friday, April 24, 2020
Economic Calendar & Watch List
Morning Notes
US Futures are slightly higher and European markets are slightly lower early trading. News of Gilad terminating their COVID-19 trial, remdesivir, in China sent markets lower in yesterday’s session. The US House passed another stimulus package yesterday and is headed to the Presidents desk for a signature. Asian stocks settled the session mostly lower.
Technicals
The SPY reclaimed the $281.5 level early in the session yesterday and then failed to hold the level into the close. Support will first be found at $275.52, then the 20EMA at $272.84, $271.3, $256.35, $247.68, followed by $242.21, $233.76, $228.02, and $218.26. Resistance will be found at ascending resistance at $281.50, $288, gap fill at $290.23, and the 200SMA at $300.45.
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**
INTC, ZM
Economic Calendar
8:30 Durable Goods Orders
10:00 Consumer Sentiment
Notable Earnings Before Open
Verizon (VZ) – EPS Est. $1.22
American Express (AXP) – EPS Est. $1.69
Notable Earnings After Close
NONE
