Wednesday October 3, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in trading this morning. Markets are catching some relief with good news coming from Italy with the Government saying it will try and reign in the budget deficits. European gains were limited with a decline in Aug retail sales. Asian markets settled the day mostly lower.
Technicals
The SPY closed yesterday’s session flat and is looking to gap slightly higher this morning. Support will continue to lie first at the 20EMA of $290.26, 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 $281.12, the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84 and the 200SMA at $275.64. Resistance is still 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**
GM, AA, AAPL, CRBP
Economic Calendar
6:30 Fed Pres. Evans Speaks
8:05 Fed Pres. Barkin Speaks
10:30 Weekly EIA Petroleum Status Report
12:00 Fed Pres. Harker Speaks
1:00 Fed Pres. Brainerd Speaks
2:15 Fed Pres. Mester Speaks
4:00 Fed Chair Powell Speaks
8:00 Fed Pres. Kaplan Speaks
Notable Earnings Before Open
Lennar (LEN) – EPS Est. $1.19
Notable Earnings After Close
NONE