Monday, May 11, 2020
Economic Calendar & Watch List
US Futures and European markets are slightly lower in early trading. Investors are cautiously optimistic about the economy as states start to reopen following the COVID-19 shutdowns. Coronavirus continues to impact the White House as VP Pence’s Press Sec. tested positive for the virus. Asian stocks settled the session mixed.
The SPY consolidated higher in Friday’s session closing just below the previous high swing pivot. Support will first be found at $289.25, $283.70, followed by the 20EMA at $282.42, $281.5, $279.13, $275.52, $271.3. Resistance will be found at ascending resistance at $294.88, the 100SMA at $299.44, and the 200SMA at $299.77.
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**
CAH, UAA, MYOK
12:30 Fed Pres. Evans Speaks
Notable Earnings Before Open
Under Armour (UAA) – EPS Est. $-0.19
Cardinal Health (CAH) – EPS Est. $1.43
Marriot International (MAR) – EPS Est. $0.90
Notable Earnings After Close