Daily Game Plan from Cabrera Capital

Charts, Commentary, News, Technical Analysis

Monday, October 21 , 2018

TODAY’S GAME PLAN:  

DATA/HEADLINES:  

China’s Vice Premier Liu He said on Saturday there had been “substantial progress” with the U.S. to lay the foundation for an initial accord on trade. UK PM Johnson will ask Parliament to back his deal with the EU     today. The U.K. Prime Minister failed in his first attempt to get his Brexit deal approved in a vote in the British Parliament over the weekend and has been forced to seek an extension to the Oct. 31 deadline.

TODAY’S HIGHLIGHTS:   

EQUITIES:   U.S. equity-index futures advanced along with European and Asian shares as the market awaits fresh developments on foreign trade and this week’s slew of results from major companies. / MDR +30.6% (+$0.72); YNDX +9.3% (+$2.78); Yandex Rises as Russia May Ease Law to Curb Foreign Ownership; PINS +3.7% (+$0.93); Pinterest Raised to Outperform at RBC; PT $35; COMM raised to Buy at Nomura Instinet; ENDP -13% (-$0.63); MNK -6.4% (-$0.17)

December E-Mini S&P is +0.30% pre-market; NQ +0.38%; RTY +0.77%. SPX will has 2996 as initial key to start today (.618 retrace). Early strength above here would see last week’s high at 3008.  Short term extension target is 3024-3027 area.  A break of 2980 would likely see the 50dma around 2948.

Small caps outperforming the last few days after IWM/SPY breaks above the short term trend line and has plenty of room for upside momentum shift.


David Wienke

Cabrera Capital Markets, LLC 


As always, please use protective buy and sell stops when trading futures and options.

Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

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Dave Wienke (86 Posts)


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