Friday, January 17, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets continue to push higher following the signing of the US/China phase 1 trade agreement. Markets were limited in gains by China posting a drop in 4Q GDP to the lowest level in nearly 30 years. Asian stocks settled the session mixed.
Technicals
The SPY continued to push new highs in yesterday’s session opening and remaining above the ascending resistance line. Support will first be found at ascending support of $331, then $327 and the 20EMA and pivot at $323.90, 315.48, gap fill at $312.5, $309.06, 100SMA at $307.03. Resistance will be found at all-time highs of $330.92.
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**
Economic Calendar
8:30 Housing Starts
9:00 Fed Pres. Harker Speaks
9:15 Industrial Production
10:00 Consumer Sentiment
12:45 Fed Pres. Quarles Speaks
Notable Earnings Before Open
Fastenal (FAST) – EPS Est. $0.31
J.B. Hunt Transport (JBHT) – EPS Est. $1.52
Notable Earnings After Close
NONE
