Monday October 30, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are lower this morning and European stocks are higher after Eurozone economic confidence rose to a near 17 year high. Investors will look for clues into the economy as they await FOMC meeting decisions, unemployment numbers and a potential Fed chair nomination this week. Asian stocks closed the day mostly mixed.
Technicals
The SPY surged higher continuing its strength throughout Friday’s session, setting new all time highs yet again. Support will lie at the low of Friday’s range at $255.63, followed by the 20EMA at $254.76, then $253.98, $253.65, $253.20, $252.56, $252.23, the former ascending resistance at $251.77, then $251.30, and the recent pivot at $250.15. Resistance will lie at the all time highs set Friday at $257.89.
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**
MRK
Economic Calendar
8:30 Personal Income and Outlays
Notable Earnings Before Open
Loews Corporation (L) – EPS Est. $0.02
Notable Earnings After Close
Mondelez (MDLZ) – EPS Est. $0.54
Texas Roadhouse (TXRH) – EPS Est. $0.43
