Monday November 5, 2018
Economic Calendar & Watch List
Morning Notes
US Futures and European stocks are lower in early trading. Investors are cautious again that a resolution in the US/ China trade relation may not be as close as was stated on Friday. Eyes are on the Fed, as well, with a stronger than expected jobs report that may speed rate hikes. Asian markets settled lower to start the week.
Technicals
The SPY opened at its 20EMA in Friday’s session, but dropped through the session testing and holding the critical $270 pivot level again. Support is first found at the important $270 pivot, followed by $265, $261.20, then $259.00 and $254.67. Resistance first lies at the 20EMA at $274.49, the $275.5 pivot, followed by the 200SMA at $276.16, the $280 pivot area, then the 100SMA at $281.66, $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**
RACE, AAPL
Economic Calendar
8:30 Fed Pres. Williams Speaks
10:00 ISM Non-Mfg Index
7:00p Fed Pres. Kaplan Speaks
Notable Earnings Before Open
Loews (L) – EPS Est. $0.98
Notable Earnings After Close
Marriott International (MAR) – EPS Est. $1.31
Mylan (MYL) – EPS Est. $1.17
