Tuesday, October 29, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are flat in early trading. Investors remain cautiously optimistic about a tentative trade deal in the works between the US and China but are waiting for FOMC decision tomorrow on rates. Asian stocks settled the session mostly lower.
Technicals
The SPY gapped higher to start yesterday’s session and posted new all-time highs and consolidated at the highs. Support will first be found at gap entry of $302.91, gap fill at $302.2, the 20EMA at $298.10, $296.97, gap entry at $295.57, the 100SMA of $294.90, then gap fill at $294.21, $293.85, the 200SMA at $287.57. Resistance will be found at all-time highs of $303.85 and ascending resistance of 306.30.
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**
NXPI, GRUB, SHOP
Economic Calendar
8:55 Redbook
10:00 Consumer Confidence
Notable Earnings Before Open
Shopify (SHOP) – EPS Est. $0.11
Mastercard (MA) – EPS Est. $2.01
Merck (MRK) – EPS Est. $1.25
Pfizer (PFE) – EPS Est. $0.63
General Motors (GM) – EPS Est. $1.31
Notable Earnings After Close
Advanced Micro Devices (AMD) – EPS Est. $0.18
Electronic Arts (EA) – EPS Est. $0.86