Economic Calendar & Watch Lists 10/3/2016

1845

Monday October 3, 2016

 

Economic Calendar & Watch Lists

 

Morning Notes

US Futures are relatively flat this morning along with European stocks as global markets are quiet as markets in Germany, Korea, and China are closed for a holiday. The remainder of Asian stocks closed higher after European banking concerns subsided along with Japan’s ISM number coming in higher than expected.

 

Technicals

spy103

The SPY tested the heavy resistance near $217 to then close well off the highs in Friday’s session. Support will lie at the low of Friday’s range, followed by the near term ascending support at $214.60, then $214.04, $213.62, $213.44, and $213.38. Resistance will lie at a near term macro pivot at $216.80, followed by the 50 day moving average at $216.85, then the high of Friday’s range at $217.12.

 

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**

$WYNN

$TSLA

 

Economic Calendar

9:45 Final-September Markit manufacturing PMI expected unchanged at 51.4

10:00 August construction spending expected +0.3% m/m

10:00 September ISM manufacturing index expected +0.9 to 50.3

 

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

NONE

 

October 3rd Swing Watch List

$AGEN – Watching this big mover for a breakout over the 7.30 area. A bull flag and lots of room to go higher if that breaks. Long entry is over 7.30-7.35, stop 7.00. Target is 8.00 and then 8.40.

$AXL – Long entry here is over stiff resistance at 17.40. Stop is 16.90. Target is 18.15 and then 18.85

$OCN – About to breech the 200 EMA for the first time in a long time. Watching for the squeeze if that level falls. Long entry is over 3.75, stop is 3.55. Target is 4.50.

$BMY – On short watch for a breakdown toward big support at 52. Entry is 53.75, new 52 week lows. Stop will be 54.40. Target is 52.

NO COMMENTS