Click here to register for the webinar, which begins at 4:30 p.m. ET.
S&P 500 overview
- Just finished best quarter since Q4 2013.
- Uptrend steepening, somewhat like a year ago.
- Safe-haven Japanese yen falling. Australia dollar, Turkish lira rising. Bonds under pressure.
- Near-term range potential before payrolls, earnings. Watch 9/26 outside day.
- Will 2910 be retested on @ES?
Calls & News of Note:
- 9/24: Jamie Dimon of JPM: U.S. can keep growing at 3%.
- 9/24: JP Morgan: Brent crude may hit $85-90 amid Iran sanctions, questions Saudi excess capacity.
- 9/26: Fed raises GDP est +2.9% to → +3.1%. Meanwhile China & Asia slow, according to Asia Dev’t Bank & JPMorgan.
- 9/27: JPMorgan bullish on AAPL amid increased value-add from large user base.
- 10/1: CNBC: Seasonality favors strong Q4.
Don’s Watch List:
- PepsiCo (PEP): EPS tomorrow morning.
- Costco (COST): EPS Thursday afternoon. Support at $230, resistance at $245.
- General Motors (GM): Monthly auto sales Wednesday morning.
- Constellation Brands (STZ): Reports Thursday, with support at $207, resistance under $219.
- Lennar (LEN): Homebuilder with earnings before the bell on Wednesday.
Russell’s Watch List:
- Target (TGT) showing signs of bullish continuation. Good for options.
- Whiting Petroleum (WLL), TransOcean (RIG) have breakout potential as oil climbs.
- Exxon Mobil (XOM): Potential bullish continuation. Good for options.
- Eli Lilly (LLY) challenging 2000 resistance around $108.
- Johnson & Johnson (JNJ): Pullback following golden cross.
- IWM: Russell where art thou? Rotation underway?
- Basing/holding uptrend: SPLK, TRXC, TPR, WSM, CTAS
- Careful of cannabis stocks losing volume: TLRY, CGC, CRON
From the Insights Blog:
- 9/27: Why Stocks Move: Business Volumes
- 9/27: Oil in spotlight before Iran sanctions.
- 9/28: Huge put selling in GE before Flannery ousted.
- 9/28: Cannabis craze came to TradeStation last month.
- 10/1: Heavy call volume appears bullish in Gilead (GILD)
Events to Watch:
- 10/2: Jerome Powell speech
- 10/3: Crude oil inventories
- 10/5: Non-farm payrolls
- 10/8: Quiet week w/Columbus Day, Brazilian elections.
- 10/12: Earnings start with C, JPM, WFC.