Thursday May 16, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are and European markets are slightly higher in early trading. Investors remained concerned as Pres. Trump issued another blow to US and China trade relations with banning companies in the US from using telecom equipment from companies it deems as national security threats, including Huawei. Markets are digesting this change and waiting to see what to expect while the US and China remain in trade negotiations. Asian markets settled the session mostly mixed.
Technicals
The SPY tested and held the $281 pivot area in yesterday’s session and continued higher in to the afternoon. Support will first be found at $281.20, $280, the 200SMA at $277.30, and $275.50. Resistance first lies at $286.7, $287, followed by the 20EMA at $287.99, $289.4, $293.2, and all time highs of $294.95
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**
CSCO, WMT
Economic Calendar
8:30 Housing Starts
8:30 Weekly Unemployment Claims, exp. 219k
12:05 Fed Pres. Kashkari Speaks
Notable Earnings Before Open
Walmart (WMT) – EPS Est. $1.02
Wix.com (WIX) – EPS Est. $0.05
Notable Earnings After Close
NVDIA (NVDA) – EPS Est. $0.79
Baidu.com (BIDU) – EPS Est. $0.35
