Monday October 1, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading to start the month. The US, Mexico and Canada have all reached a new trade agreement that replaces NAFTA. European stocks are seeing a boost from a drop in unemployment to a near 10 year low. Shares of TSLA are 15% higher after Musk agreed to a settlement with the SEC. Asian markets settled the day mixed. Japan’s Nikkei is continuing to be highs not seen in nearly 27 years.
Technicals
The SPY continued to hold the 20EMA level in Friday’s session and is looking to gap higher to start the session today. Support will continue to lie first at the 20EMA of $289.95, followed by the pivot low of $286.17, the old $285 pivot zone, then gap entry at $283.37, gap fill at $282.54. It continues with the 100SMA at $280.70, the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot and the 200SMA at $275.38. Resistance is at the pivot high of 292.24, followed by all time highs of $293.94.
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**
GE, TSLA, BA
Economic Calendar
8:30 Fed Pres. Bostic Speaks
10:00 ISM Manufacturing Index
11:00 Fed Pres. Kashkari Speaks
12:15 Fed Pres. Rosengren Speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
Stitch Fix (SFIX) – EPS Est. $0.04
