Friday October 12, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. An easing in trade tensions between the US and China has given strength in global markets this morning after it is reported that Pres. Trump and Pres. Xi plan to meet next month. Investors will also be keeping their eye on Banks today as they are kicking off the new earnings season. Asian markets settled the day higher.
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 $276.26, followed by the pivot at $274.03, $270, and $268.43. Resistance first lies at yesterday’s high of $278.90, followed by pivots near $280, then the pivot at $286.7, followed by the 20EMA of $286.98, 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**
WFC
Economic Calendar
9:30 Fed Pres. Evans Speaks
12:30 Fed Pres. Bostic Speaks
10:30p Fed Pres. Quarles Speaks
Notable Earnings Before Open
Citigroup (C) – EPS Est. $1.66
J P Morgan Chase (JPM) – EPS Est. $2.24
PNC Financial (PNC) – EPS Est. $2.73
Wells Fargo (WFC) – EPS Est. $1.17
Notable Earnings After Close
NONE
