Hot Stocks To Watch 10/4/2018

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Thursday October 4, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures and European stocks are lower in early trading. Markets tumbled yesterday afternoon with the largest jump in US Treasury Bonds yields in almost 2 years after hawkish comments from Fed Chair Powell. That in conjunction with the ISM Non-Manufacturing PMI rising to a 21 year high put pressure on markets into the afternoon. Asian markets settled the day mostly lower.

 

Technicals

The SPY gapped slightly higher to start yesterday’s session and was trading in a tight range until the afternoon fade. Support will continue to lie first at the 20EMA of $290.40, 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 $281.31, the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84 and the 200SMA at $275.76. Resistance is still at the pivot high of 293.22, 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**

 

SRPT, MNK, LLY

 

Economic Calendar

 8:15  Fed Pres. Quarles Speaks

 8:30  Weekly Unemployment Claims, expected 214k

 

Notable Earnings Before Open
Constellation Brands (LEN) – EPS Est. $2.58

 

Notable Earnings After Close

Costco (COST) – EPS Est. $2.34

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