Thursday October 25, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are up in early trading. Strong earnings in the tech sector are helping push markets a little higher after a weak close yesterday. Investors still remain cautious on a slowing global economy. Asian markets settled the session mostly lower.
Technicals
The SPY retested and failed the critical $270 support area in yesterday’s session and moved lower into the close. Support is first found at $265, followed by $261.20, $259.00 and $254.67. Resistance first lies at the critical $270 pivot, then the $275.5 pivot, followed by the 200SMA at $276.47, the 20EMA at $279.61, the $280 pivot area, then the 100SMA at $282.26, $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**
LUV, TSLA, MSFT
Economic Calendar
8:30 International Trade In Goods
8:30 Weekly Unemployment Claims, expected 212k
7:00 Fed Pres. Mester Speaks
Notable Earnings Before Open
Twitter (TWTR) – EPS Est. $0.04
Shopify (SHOP) – EPS Est. $-0.30
GrubHub (GRUB) – EPS Est. $0.31
Notable Earnings After Close
Amazon.com (AMZN) – EPS Est. $3.29
Alphabet (GOOGL) – EPS Est. $10.54
Intel (INTC) – EPS Est. $1.15
Snap (SNAP) – EPS Est. $-0.27
Whirlpool (WHR) – EPS Est. $3.68
