Wednesday, August 7, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are lower and European markets are higher in early trading. Markets remain under pressure following the recent selloff and tension ramp between the US and China. Investors are concerned that the trade dispute may turn into a currency battle after the US named China a currency manipulator. Asian stocks settled the session mixed.
Technicals
The SPY consolidated around the descending resistance line in yesterday’s session. Support will first be found with the 200SMA at $278.74. Resistance will be found at descending resistance of $286.35, then $288.44, the 100SMA at $289.72, $293.20, $294.45, the 20EMA at $295.45, $297, then $299.6, $301 and $302.23
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**
DIS, NEWR
Economic Calendar
9:30 Fed Pres. Evans Speaks
10:30 Weekly EIA Petroleum Status Report
Notable Earnings Before Open
CVS Health (CVS) – EPS Est. $1.70
Notable Earnings After Close
Roku (ROKU) – EPS Est. $-0.22
Zillow (ZG) – EPS Est. $-0.42
TripAdvisor (TRIP) – EPS Est. $0.35
Lyft (LYFT) – EPS Est. $-1.66
Skyworks Solutions (SWKS) – EPS Est. $1.21
