The S&P has quickly traded to the lows of Friday afternoon, giving up all of its overnight gains by Noon ET. The idea of a stimulus exists, but it is a longshot right now with a deadline of tomorrow from Speaker of the House Pelosi, and many obstacles to overcome to get an agreement between the President, House, and Senate, with only 15 days until the election.

The VIX remains elevated at over 28. Earnings season really kicks into high gear this week with many high profile names like TSLA and NFLX announcing their numbers.

I have some equities on my radar this week but want to let Tuesday's stimulus deadline pass before initiating any new equity trades right now. The NQ Futures have traded down almost 200 points from the intra-day high it made right after the open of 11,950.

I will have an update by Wednesday morning, if not sooner, when we have more clarity on the stimulus possibility. All the potential seems to the downside right now with the S&P trading at 3,460 and the potential news of no stimulus until after the election looming in the balance.

All the risk seems to the downside right now. If we get news of a stimulus I don't see the market charging much higher, yet if we get news of no stimulus and the market thinks we may have to wait until February then the reaction could be swift to the downside.

The S&P currently sits 226 points in the positive right now for 2020, or exactly 7% positive for the year. With the harsh economic circumstances that still impact many Americans and businesses, there is a substantial risk that we see some downside volatility if we do not get a 2nd round of stimulus anytime soon.

Earnings stocks we're watching this week:

Tuesday: NFLX & SNAP after the close
Wednesday: VZ before the open. CMG, TSLA, LVS, XLNX after the close.
Thursday: KO, SIRI, LUV before market open. COF, MAT, INTC after the close.
Friday: BLMN before the open.

The ES Futures have now gone negative and are below Friday's low.

Disney shot higher early in the week on the news of the reorganization, yet gave back all of those gains by the end of the week. We want to see DIS stay above the gap highlighted on the chart, and trade higher with volume. They continue to face problems with movie theaters at reduced capacity along with parks, yet the long term prospects of their new core business of direct to consumer streaming remain strong and undervalued. DIS is scheduled to release their earnings November 12th.

Constellation continues to bounce off the 180 price point. We want to see it trade back above $182.93. CGC traded nicely last week and is up almost 9% again today.

Uber is trading near the lower part of its recent trading range. We want to see UBER stay above its $32.89 low. Uber will report earnings November 5th.

Options Trades:
None

Short Term portfolio:
None

Long Term portfolio:
Long half a position in DIS at $118.63. Disney is trading at $125.41. Stop is $98.45.
Long half position in UBER at $31.50 or better. Uber is trading at $34.16. Stop is $26.24.
Long half position in STZ at $180.50. STZ is trading at $182.00. Stop is $164.05.

Timer Digest Signals: S&P: Bearish Gold: Bullish Bonds: Bullish