Tuesday October 16, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are higher in early trading. An easing in geopolitical risks in Italy is helping push European markets higher. Investors are optimistic on what has been stronger than expected earnings season so far. Asian markets settled the day mixed.
Technicals
The SPY continued to trade in a range around the 200SMA in yesterday’s session. Support is first found at the pivot at $272, $270, $268.43, and $267.76. Resistance first lies at the 200SMA of $276.33, followed by the $277 pivot, $279, $280, the 100SMA $282.05, the 20EMA at $284.83, the pivot at $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**
GS, DPZ, UNH, ADBE
Economic Calendar
8:55 Redbook
9:30 Industrial Production
Notable Earnings Before Open
Johnson & Johnson (JNJ) – EPS Est. $2.03
UnitedHealth (UNH) – EPS Est. $3.30
Morgan Stanley (MS) – EPS Est. $1.00
Domino’s Pizza (DPZ) – EPS Est. $1.73
Notable Earnings After Close
Netflix (NFLX) – EPS Est. $0.68
International Business Machines (IBM) – EPS Est. $3.40
CSX Corporation (CSX) – EPS Est. $0.94
United Continental Holdings, Inc. (UAL) – EPS Est. $3.09
