Tuesday, April 14, 2020
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Investors are watching earnings kickoff today from the banks and will be watching guidance that is given, or withheld, for queues into corporate thoughts on market strength. Pres. Trump also announced yesterday that he is ready to open the country “ahead of schedule”. Asian stocks settled the session mostly higher.
Technicals
The SPY consolidated, tested and held the $271.3 pivot level and are gapping higher this morning. Support will first be found at $271.3, descending support near $265, then the 20EMA at $264.42, $256.35, $247.68, followed by $242.21, $233.76, $228.02, and $218.26. Resistance will be found at $281.5, ascending resistance at $287.5s, gap fill at $290.23, and the 200SMA at $301.09.
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**
JPM, WFC
Economic Calendar
11:05 Fed Pres. Bullard Speaks
12:30 Fed Pres. Evans Speaks
Notable Earnings Before Open
JPMorgan Chase (JPM) – EPS Est. $2.49
Wells Fargo (WFC) – EPS Est. $0.59
Johnson & Johnson (JNJ) – EPS Est. $2.03
Notable Earnings After Close
NONE
