Monday October 15, 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 continued to stay below the 200SMA in Friday’s session, closing the week just below that level. Support is first found at the pivot at $272, $270, $268.43, and $267.76. Resistance first lies at the 200SMA of $276.30, followed by Thursday’s high of $278.90, then pivots near $280, the 20EMA at $285.93, the pivot at $286.7, $293.22, then 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**
Scanners
Economic Calendar
8:30 Retail Sales
Notable Earnings Before Open
Bank of America (BAC) – EPS Est. $0.62
Notable Earnings After Close
NONE
