Monday October 29, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. A rise in the tech sector is leading markets higher helped in part by RHT’s acquisition by IBM. European markets are being helped by the lack of a credit rating downgrade by S&P for Italy. In addition, European banks are higher after earnings from HSBC showed a 28% increase in profits in the 3rd quarter. Asian markets settled the session mixed.
Technicals
The SPY closed the session nearly flat on Friday, still remaining below the $270 pivot level. Support is first found at $265, followed by $261.20, $259.00 and $254.67. Resistance first lies at the critical $270 pivot, then the $275.5 pivot, followed by the 200SMA at $276.40, the 20EMA at $277.43, the $280 pivot area, then the 100SMA at $282.09, $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**
FDC, TSLA, IBM
Economic Calendar
8:30 Personal Income and Outlays
9:45 Fed Pres. Evans Speaks
Notable Earnings Before Open
First Data Corporation (FDC) – EPS Est. $0.37
Notable Earnings After Close
Mondelez (MDLZ) – EPS Est. $0.61
