Thursday May 23, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are and European markets are lower in early trading. Global markets are under pressure this morning as near term hopes of a trade war resolution are waning. More countries are following the US with blacklisting China’s Huawei increasing tensions. Asian markets settled the session lower.
Technicals
The SPY traded in a constricted range in yesterday’s session, still remaining below the 20EMA. Support will first be found at $281.20, $280, the 200SMA at $277.40, and $275.50. Resistance first lies at $286.7, $287, followed by the 20EMA at $287.15, $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**
WB, LB
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 215k
10:00 New Home Sales
1:00 Fed Pres. Kaplan, Barin, Bostic and Daily Speak
Notable Earnings Before Open
Weibo (WB) – EPS Est. $0.50
Best Buy (BBY) – EPS Est. $0.88
Notable Earnings After Close
Autodesk (ADSK) – EPS Est. $0.46
Intuit (INTU) – EPS Est. $5.41
