Wednesday July 25, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are flat in early trading. Pres. Trump is meeting in Europe with Commission Pres. Juncker regarding tariffs. Investors hope that the two can come to agreements on trade or it is reported that the EU has more tariffs ready to put in place. Asian markets settled the day mixed.
Technicals
The SPY broke out from its consolidation pattern to the upside in yesterday’s session, gapping slightly higher. Support will first lie at yesterday’s low of $280.63, followed by the $280 and $279.5 pivots, then the 20EMA at $277.93, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot, then the $274 pivot and 100SMA at $271.31. It continues at the pivot at $270, the 200SMA at $268.74, then pivots at $267, $265, $259.05, $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at yesterday’s high of $282.56, then $284.10, and 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**
GM, BA
Economic Calendar
10:00 New Home Sales
10:30 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
Boeing (BA) – EPS Est. $3.45
United Parcel Service (UPS) – EPS Est. $1.92
Anthem (ANTM) – EPS Est. $4.19
GrubHub (GRUB) – EPS Est. $0.31
Notable Earnings After Close
Facebook (FB) – EPS Est. $1.75
Visa (V) – EPS Est. $1.08
PayPal (PYPL) – EPS Est. $0.41
QUALCOMM (QCOM) – EPS Est. $0.71
Las Vegas Sands (LVS) – EPS Est. $0.80
