Wednesday October 31, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. The tech sector is leading the markets higher this morning helped in part by earnings from FB. European shares are also higher with strong earnings releases. Asian markets settled the session higher.
Technicals
The SPY rallied to close yesterday’s session and is looking to open this morning above the $270 pivot. Support is first found at the important $270 pivot, followed by $265, $261.20, then $259.00 and $254.67. Resistance first lies at the 20EMA at $275.34, the $275.5 pivot, followed by the 200SMA at $276.28, the $280 pivot area, then the 100SMA at $281.85, $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**
FB, IQ, GM
Economic Calendar
8:15 ADP Employment Report
9:45 Chicago PMI
Notable Earnings Before Open
General Motors (GM) – EPS Est. $1.26
Yum! Brands (YUM) – EPS Est. $0.83
Anthem (ANTM) – EPS Est. $3.67
Automatic Data Processing (ADP) – EPS Est. $1.10
Notable Earnings After Close
American International Group (AIG) – EPS Est. $0.07
Molina Healthcare (MOH) – EPS Est. $1.65
