Wednesday October 4, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are slightly down premarket after pushing record highs on Tuesday due to an unexpected rise in gasoline supplies that rose +4.91 million bb. European markets are down as well following some disappointing retail economic data along with the increasing tensions for Catalonia’s independence. Asian markets were mixed with China, Taiwan and South Korea markets closed for holiday.
Technicals
The SPY continued its rally yesterday with all-time highs peaking at $252.89 but have since come off and are currently trading around the $252.65 range. Support will continue at $252, yesterday’s low at $252.23, followed by $251.23, then $248.87, $248.07 and $248.02 which will continue to act as a major pivot point. Support continues at $246.23, and $244.95. Resistance will lie at record highs at $252.89.
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**
Economic Calendar
8:15am EST ADP Employment Report
9:45am EST PMI Services Index
10:00am EST ISM Non-Mfg Index
10:30am EST EIA Petroleum Status Report
3:15pm EST Janet Yellen Speaks
Notable Earnings Before Open
PepsiCo, Inc (PEP) – EPS Estimates $1.42
Monsanto Co. (MON) – EPS Estimates $(0.38)
Notable Earnings After Close
NONE
