Hot Stocks To Watch 10/13/2017

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Friday October 13, 2017

Economic Calendar & Watch List

 

Morning Notes

US Futures and European shares are edging higher in early trading ahead of earnings from US banks. This is due in part to European speculation that the ECB will extend its QE .through September 2018. China is helping lead global growth with higher than expected imports and demand in crude, with imports at their second highest level ever. Asian stocks closed mostly higher after the Nikkei continued its rally reaching its highest level in nearly 21 years.

 

Technicals

The SPY, again, traded in a constricted range during Thursday’s session finding resistance at all time highs and closing just slightly negative. Support will lie at the low of yesterday’s range at $254.37, followed by $253.98, $253.65, $253.20, $252.56, $252.23, the 20EMA at $251.93, then $251.30, the former ascending resistance at $251, and the recent pivot at $250.15. Resistance will lie at the record highs of $255.06.

 

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

0830  CPI, expected +.6%

0830  Fed Pres. Rosengren Speaks

1025  Fed Pres. Evans Speaks

1130  Fed Pres. Kaplan Speaks

1300  Baker-Hughes Rig Count

1300  Fed Gov. Powell Speaks

 

Notable Earnings Before Open

Bank of America (BAC)  – EPS Est. $0.46

PNC Financial (PNC) – EPS Est. $2.12

Wells Fargo (WFC) – EPS Est. $1.03

 

Notable Earnings After Close

NONE

 

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