Tuesday January 30, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are down this morning. Losses are lead by a drop in Asian stock markets as the Nikkei ended lower by nearly -1.5%. The largest losses are seen in the technology sector with AAPL trading down 1% in the premarket. In other news, the FOMC starts its 2 day conference today and President Trump will be delivering his first State of the Union address tonight. Asian stocks ended the day lower.
Technicals
The SPY traded on an inside day during yesterday’s session after its recent break from consolidation. Support will first lie at $284.10, followed $282.4, $280, the 20EMA at 278.98, then $276.13, $274.10, $272, $270.65, and the 50 SMA at $269.32. Support continues at the top of the recent consolidation at $268.80, followed by the low of the recent consolidation at 267, then ascending support which falls at $267, then a short term pivot at $265.82, a recent swing low pivot at $262.71, the 100SMA at $261.51, then $260.75, and a pivot at $260. Resistance will lie at all time highs at $286.63.
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**
WYNN, VMW, AAPL
Economic Calendar
8:55 Redbook
10:00 Consumer Confidence
Notable Earnings Before Open
McDonald’s (MCD) – EPS Est. $1.59
Pfizer (PFE) – EPS Est. $0.56
Harley-Davidson (HOG) – EPS Est. $0.46
Notable Earnings After Close
Electronic Arts (EA) – EPS Est. $2.07
Illumina (ILMN)- EPS Est. $1.22
