Wednesday, October 2, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are lower in early trading. Markets experienced their worst losses since August in yesterday’s session following the release of the US Manufacturing index. It posted its worst levels since 2009 citing the ongoing trade war with China. Asian stocks settled the session lower.
Technicals
The SPY failed to hold the 20EMA in yesterday’s session then continued lower through the session consolidating just above the 100SMA and we are looking to open below that level today. Support will first be found at $288.44, then ascending support of $288.20 and the 200SMA at $283.27. Resistance will be found at the 100SMA of 292.28, followed by $294.3, the 50SMA at $294.59, the confluence with the 20EMA at $296.70, then $302.20, $302.63.
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**
AMTD, NFLX
Economic Calendar
9:00 Fed Pres. Harker Speaks
10:50 Fed Pres. Williams Speaks
Notable Earnings Before Open
Lennar (LEN) – EPS Est. $1.32
Paychex (PAYX) – EPS Est. $0.69
Notable Earnings After Close
Bed Bath & Beyond (BBBY) – EPS Est. $0.26