Tuesday November 3, 2015
Economic Calendar & Watch List 11/3/2015
Morning Notes
US futures are slightly lower this morning as consolidation takes place after yesterday’s sharp move higher. European stocks are trading flat to slightly lower on various news headlines including UBS bank profitability expectations and continued investigations into Volkswagen emissions. Asian stocks closed mixed.
Technicals
The SPY surged higher again in yesterday’s session, closing just off the highs. Support will be the low of yesterday’s range at $208.17, followed by $207.74, and then the 200 day moving average at $206.27. Resistance lies roughly at the high of yesterday’s range of $210.62 – $210.70 from back in August just prior to the flash crash. In addition, there is descending resistance at $211.
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**
FIT
CAR
Economic Calendar
9:45 Oct New York ISM expected +1.2 to 45.7
10:00 Sep factory orders expected -0.9%, Aug -1.7% and -0.8% ex transportation
Notable Earnings Before Open
K: Kellogg – EPS Est. $.84, Rev Est. $3.42B
DISCA: – Discovery Communications – EPS Est. $.38, Rev Est. $1.58B
Notable Earnings After Close
TSLA: Tesla – EPS Est. $.50, Rev Est. $1.26B
HLF: Herballife – EPS Est. $1.05, Rev Est. $1.15B
