Tuesday, May 19, 2020
Economic Calendar & Watch List
US Futures and European markets are mixed in early trading. Markets continue to hold gains following the positive news on vaccine news. Investors will continue to watch earnings, as many large companies are reporting, for forward guidance along with Fed Chair Powell speaking today. Asian stocks settled the session higher.
The SPY exhibited strength in yesterday’s session gapping and continuing sharply higher through the session. Support will first be found at $292.70, $289.20, followed by the 20EMA at $284.94, $281.5, $279.13, $275.52, $271.3. Resistance will be found at the $294.88 pivot area, followed by ascending resistance at $296.4, the 100SMA at $297.49, and the 200SMA at $299.42.
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**
8:30 Housing Starts
10:00 Fed Chair Powell Speaks
2:00 Fed Pres. Rosengren Speaks
Notable Earnings Before Open
Walmart (WMT) – EPS Est. $1.12
Home Depot (HD) – EPS Est. $2.26
KSS (Kohls) – EPS Est. $-1.65
Notable Earnings After Close
Netease (NTES) – EPS Est. $3.51