Thursday November 1, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. Markets are holding higher with some strong earnings being released this earnings season. Eyes will be on AAPL as they release earnings after the bell. European shares are higher after Britain and the EU have agreed on a tentative deal for financing. Asian markets settled the session mixed.
Technicals
The SPY gapped higher in yesterday’s session, tested and held the $270 pivot level. 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 $274.89, the $275.5 pivot, followed by the 200SMA at $276.24, the $280 pivot area, then the 100SMA at $281.77, $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**
W, SPOT, NFX, AAPL
Economic Calendar
8:30 Weekly Unemployment Claims, exp. 216k
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
Notable Earnings Before Open
Cigna (CI) – EPS Est. $3.45
Wayfair (W) – EPS Est. $-1.51
Notable Earnings After Close
Apple (AAPL) – EPS Est. $2.79
Starbucks (SBUX) – EPS Est. $0.59
Kraft Heinz (KHC) – EPS Est. $0.81
CBS (CBS) – EPS Est. $1.22
