Hot Stocks To Watch 10/24/2018

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Wednesday October 24, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures are flat while European stocks are up in early trading. Weakness in the tech sector is weighing on US markets. European markets are getting a boost from a drop in EUR/USD which is good for exporters. Earnings season is upon us and investors will be watching closely for any signs of a downturn in the economy. Asian markets settled mixed on the day.

 

Technicals

The SPY retested the critical $270 support area in yesterdays session, reclaiming that and moving higher into the afternoon. We are looking to gap lower this morning around the critical $270 pivot area. Support is first found at the $270 critical pivot, followed by $268.43, and $267.76. Resistance first lies at the $275.5 pivot, followed by the 200SMA at $276.52, the $280 pivot area, the 20EMA at $281.12, then the 100SMA of $282.36, $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**

TXN, UPS, T

Economic Calendar

10:00  New Home Sales

10:00  Fed Pres. Bostic Speaks

11:30  Fed Pres. Kaplan Speaks

12:30  Fed Pres. Mester Speaks

 2:00  Fed Pres. Bostic Speaks

 7:00  Fed Pres. Brainard Speaks

 

Notable Earnings Before Open
Boeing (BA) – EPS Est. $3.45

United Parcel Service (UPS) – EPS Est. $1.82

AT&T (T) – EPS Est. $0.93

 

Notable Earnings After Close

Microsoft (MSFT) – EPS Est. $0.96

Visa (V) – EPS Est. $1.20

Tesla (TSLA) – EPS Est. $-1.77

Las Vegas Sands (LVS) – EPS Est. $0.84

Whirlpool (WHR) – EPS Est. $3.68

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