Monday October 22, 2018
Economic Calendar & Watch List
US Futures and European stocks are higher in early trading. Global markets are finding some support as markets in China surge with the highest 1 day gain in nearly 3 years after Pres. Xi promised “unwavering” support and a new round of tax cuts. A drop in Italian bond yields is also giving some confidence to investors. Asian markets settled the day higher.
The SPY again drifted in Friday’s session closing at the 200SMA support. Support is first found at the 200SMA of $276.51, $275.5, $272, $270, $268.43, and $267.76. Resistance first lies at the $280 pivot area, then the 100SMA of $282.32, followed by the 20EMA at $282.64, $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**
Notable Earnings Before Open
Hasbro (HAS) – EPS Est. $2.24
Kimberly-Clark (KMB) – EPS Est. $1.64
Notable Earnings After Close