Tuesday January 15, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European shares are higher in early trading. Investors continue to watch earnings as banks kick off the new earnings season. Chinese stocks are higher after the government announced more policies aimed at stimulating the slowing economy. Gains are limited with a report coming from Germany that their economy grew at the slowest rate in 5 years over 2018. Asian markets settled the session higher.
Technicals
The SPY consolidated near the recent highs in yesterday’s session. Support is first found at the 20EMA at 255.05, followed by $254.67, then $253, $250, $248, $242, $240, followed by $235, $231.95, and $228.56. Resistance first lies at $260, $263, $265, $268, $270, then the 200SMA at $273.84 and 100SMA at $273.90.
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**
JPM, NFLX
Economic Calendar
8:30 Producer Price Index
8:55 Redbook
11:30 Fed Pres. Kashkari Speaks
1:00 Fed Pres. Kaplan Speaks
1:00 Fed Pres. George Speaks
Notable Earnings Before Open
J P Morgan Chase (JPM) – EPS Est. $2.20
UnitedHealth (UNH) – EPS Est. $3.20
Wells Fargo (WFC) – EPS Est. $1.17
Delta Air Lines (DAL) – EPS Est. $1.27
Notable Earnings After Close
United Continental (UAL) – EPS Est. $1.84
