Tuesday, August 27, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are slightly higher in early trading. Investors continue to be cautiously optimistic following comments on Sunday from Pres. Trump that China wants to get to the negotiation table again. However, the risk remains high on retaliation moves and the overall global economic slowdown. Asian stocks settled the session mostly higher.
Technicals
The SPY consolidated in yesterday’s session following the steep decline on Friday. Support will first be found at ascending support of $283, $281.72, followed by the 200SMA at $280.01. Resistance will be found at the confluence of the 20EMA and 100SMA at $290.77, $293.20, $294.45, $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**
SJM
Economic Calendar
8:55 Redbook
10:00 Consumer Sentiment
Notable Earnings Before Open
Momo (MOMO) – EPS Est. $0.72
J.M. Smucker (SJM) – EPS Est. $1.75
Notable Earnings After Close
Autodesk (ADSK) – EPS Est. $0.62
