Monday, October 28, 2019
Economic Calendar & Watch List
Morning Notes
US Futures and European markets are higher in early trading. Markets rise on word that US and China are close to reaching an agreement on Phase 1 of a trade deal. Investors will be watching to see what the Fed does with rates in their meeting release on Wednesday afternoon with a rate cut being expected. Asian stocks settled the session mixed.
Technicals
The SPY exhibited strength in Friday’s session pushing up to the $302.2 pivot area. Support will first be found at the 20EMA of $301.60, $296.97, gap entry at $295.57, the 100SMA of $294.72, then gap fill at $294.21, $293.85, the 200SMA at $287.35. Resistance will be found at all-time highs of $302.63.
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**
T, SPOT
Economic Calendar
8:30 International Trade In Goods
Notable Earnings Before Open
AT&T (T) – EPS Est. $0.93
Spotify Technology (SPOT) – EPS Est. $-0.32
Walgreens Boots Alliance (WBA) – EPS Est. $1.41
Notable Earnings After Close
Alphabet (GOOGL) – EPS Est. $12.57
Beyond Meat (BYND) – EPS Est. $0.05
