Earnings, Heavy Fed speaker week, light data week, Thursday WASDE for the Ag traders among us. - Support & Resistance Levels

Support & Resistance Levels

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Earnings, Heavy Fed speaker week, light data week, Thursday WASDE for the Ag traders among us.

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The Week Ahead: Earnings, Heavy Fed speaker week, light data week, Thursday WASDE for the Ag traders among us.

By John Thorpe, Senior Broker


McDonalds is a featured Dow stock on the earnings front this week, after todays close,

Other stocks of note this week. Eli Lilly before the open Tuesday, expectations are for a boost of 2.36 EPS per analysts on rev of 9 Billion. After Wednesday’s close Walt Disney will report , with expectations of 1.04 EPS on revenue of 23.8 billion.


In case you missed the 60 Minutes interview with Fed Chair Powell Sunday night. Here is a brief synopsis:

Noting that US growth is “solid” and the labor market “strong”, Jerome Powell said in a 60 Minutes TV interview on Sunday that the Federal Reserve “can approach the question of when to begin to reduce interest rates carefully.” Powell repeated comments from last week’s FOMC press conference that the Fed wants to see more progress on inflation before cutting rates. Powell downplayed chances that the Fed would begin cutting rates at its next meeting in March, saying policymakers want to be as confident as they can that inflation is on the path to the Fed’s two percent target. Yet he said “almost every single person” on the FOMC believes it would be appropriate to begin cutting rates sometime this year.

Tuesday we have 4 Fed Speakers , Mester, Kashkari, Collins, and Harker, Wednesday we have 4 again,

Kugler, Collins for a second time in the week, Barkin and Brown. On Thursday two speeches by the same governor Barkin, 3 hours apart and a lone speaker rounds out the week on Friday, Logan.


And on Thursday the USDA Supply and Demand numbers will be released for the country and the world.


Make it a solid week and always, “plan the trade and trade the plan”

Daily Levels for February 5th, 2024

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Economic Reports
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* This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

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