Tuesday October 2, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower in early trading. Increased geopolitical risk in Italy is weighing on global markets. Investors are also concerned with global economic growth as the trade war continues between the US and China. Asian markets settled the day mostly lower.
Technicals
The SPY gapped higher to start yesterday’s session then drifted into the close, still remaining above its 20EMA. Support will continue to lie first at the 20EMA of $290.12, 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 $280.92, the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot and the 200SMA. 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**
SFIX, CLVS, PEP, TSLA
Economic Calendar
8:55 Redbook
10:00 Fed Pres. Quarles Speaks
12:00 Fed Chair Powell Speaks
Notable Earnings Before Open
PepsiCo (PEP) – EPS Est. $1.56
Notable Earnings After Close
NONE
