Tuesday October 4, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are relatively flat this morning while European stocks trade slightly higher. A round of economic data throughout the week will likely dictate further direction of the market as we kick off the 4th quarter. Asian markets closed higher while China is closed for a holiday.
Technicals
The SPY traded in mostly range bound action throughout the majority of yesterday’s session making for choppy, slow price action. Support will lie at the low of yesterday’s range at $215.04, followed by the near term ascending support at $214.70, then $214.04, $213.62, $213.44, and $213.38. Resistance will lie at the high of yesterday’s range at $216.04, followed by the heavy resistance zone at $216.80, then $217.12 and the upper resistance pivot at $217.30.
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**
$SMMT
$DRI
Economic Calendar
9:45 Sep New York ISM
Notable Earnings Before Open
DRI: Darden Restaurants – EPS Est. $.83, Rev Est. $1.72B
Notable Earnings After Close
MU: Micron Tech – EPS Est. $(.10), Rev Est. $3.13B
