Tuesday October 30, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat while European stocks are slightly lower in early trading. US markets sold yesterday on news that the US was ready to place tariffs on the remaining imports as soon as December. European stocks are lower with Q3 GDP coming in at the slowest rate in almost 4 years and a drop in economic confidence. Asian markets settled the session mixed.
Technicals
The SPY sold sharply into the afternoon during yesterday’s session. Support is first found at $261.20, then $259.00 and $254.67. Resistance first lies at $265, then the critical $270 pivot, 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**
GE, TTWO, AKAM
Economic Calendar
8:55 Redbook
10:00 Consumer Confidence
Notable Earnings Before Open
General Electric (GE) – EPS Est. $0.21
Mastercard (MA) – EPS Est. $1.68
Under Armour (UAA) – EPS Est. $0.12
Pfizer (PFE) – EPS Est. $0.76
Notable Earnings After Close
Facebook (FB) – EPS Est. $1.46
Bidu.com (BIDU) – EPS Est. $2.42
eBay (EBAY) – EPS Est. $0.54
Electronic Arts (EA) – EPS Est. $0.58