I have one day in Quito, a Monday. I would like to go to the Equator, and some churches, and some markets, and I heard that the President of Ecuador stands on a balcony and waves to the crowds at 11 a.m. every Monday. Is that still happening?

Is this too much to do in one day? What would be the best route and transport to do this all in one day.

Also, is there a place in the Quito airport to store my bags for one day?

It can take a very long time to get anywhere in Quito. Personally, I would not bothe with the equator monument. It is a long way out of the centre. With just one day I would probably stick with wandering the streets and churches etc of the old town and maybe go for a ride on the Teleferico for amazing views on the city.

I also didn't care for the equator monument but YMMV.

A good way to see Quito is to take either the HOHO bus or take a tours. Be careful just wandering around by yourself, especially the markets. I only carry a small point and shoot camera and even that was enough to attract a pickpocket.