Tuesday, February 4, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets are higher following better than expected manufacturing data and a drop in crude oil prices. Investors’ eyes have been on TSLA as they have been surging post-earnings. Asian stocks settled the session higher.
Technicals
The SPY consolidated in yesterday’s session testing and remaining below the 20EMA. This morning we are looking to gap higher above the 20EMA and the $327 pivot for the open. Support will first be found at $327, the 20EMA of $325.90, 50SMA of $320.94, then $319.50, $315.48, then gap fill at $312.5, 100SMA at $310.82. Resistance will be found first at $328.60 and all-time highs of $332.95.
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**
CNC, LITE
Economic Calendar
8:55 Redbook
10:00 Factory Orders
Notable Earnings Before Open
Ralph Lauren (RL) – EPS Est. $2.45
Mckesson (MCK) – EPS Est. $3.54
Royal Caribbean Cruises (RCL) – EPS Est. $1.41
Centene (CNC) – EPS Est. $0.74
Notable Earnings After Close
Walt Disney (DIS) – EPS Est. $1.43
Snap (SNAP) – EPS Est. $0.01
Chipotle Mexican Grill – EPS Est. $2.74
Seagate Technology (STX) – EPS Est. $1.31
