Thursday October 10, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower in early trading. Global markets are still dropping following the US market selloff. European markets found additional weakness with a cut in the German GDP forecast. Asian markets settled the day sharply lower.
Technicals
The SPY was range bound in yesterday’s session and held the $286.7 pivot and is testing that in the premarket this morning. Support is first found at the 200SMA at $276.23, followed by the pivot at $274.03, $271.3, $270, and $268.43. Resistance first lies with the pivot at $286.7, followed by the 20EMA of $288.54, then 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**
SQ, NFLX
Economic Calendar
8:30 Consumer Price Index
8:30 Weekly Unemployment Claims, expected 207k
Notable Earnings Before Open
Delta Air Lines (DAL) – EPS Est. $1.74
Walgreens Boots Alliance (WBA) – EPS Est. $1.44
Notable Earnings After Close
NONE