Wednesday, October 30, 2019
Economic Calendar & Watch List
Morning Notes
US Futures are flat and European markets are slightly lower in early trading. Investors are watching for the FOMC meeting release where a 25 basis point cut is expected in rates. Eyes will also be on earnings releases tonight from tech giants AAPL and FB. Asian stocks settled the session mostly lower.
Technicals
The SPY posted new highs early in yesterday’s session then consolidated near those highs for the remainder of the day. Support will first be found at gap entry of $302.91, gap fill at $302.2, the 20EMA at $298.59, $296.97, gap entry at $295.57, the 100SMA of $295.06, then gap fill at $294.21, $293.85, the 200SMA at $287.80. Resistance will be found at all-time highs of $303.85 and ascending resistance of 306.35.
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**
Economic Calendar
8:30 GPD, exp. 1.7%
2:00 FOMC Meeting Announcement
2:30 Fed Chair Press Conference
Notable Earnings Before Open
General Electric (GE) – EPS Est. $0.12
Yum! Brands (YUM) – EPS Est. $0.94
Royal Caribbean (RCL) – EPS Est. $4.31
Notable Earnings After Close
Apple (AAPL) – EPS Est. $2.84
Facebook (FB) – EPS Est. $1.91
Starbucks (SBUX) – EPS Est. $0.70
Western Digital (WDC) – EPS Est. $-0.07
Twilio (TWLO) – EPS Est. $0.01
