Friday November 13, 2015
Economic Calendar & Watch List 11/13/2015
Morning Notes
US Futures are lower this morning on continuation from yesterday’s sharp move lower as well as European stocks trading lower by over -1% after weaker than expected Q3 Eurozone GDP. China’s Shanghai index fell over -1.4% and the rest of the Asian markets also closed lower.
Technicals
The SPY broke through the 200 day moving average in yesterday’s session and closed sharply lower at the low of day at $204.82. There is no support that comes into play until the low of the range of 10/22 at $201.85. Resistance will lie at the low of yesterday’s range at $204.82, followed by the 200 day moving average at $206.47, and then the high of yesterday’s range at $207.06.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential trade ideas at the market open
**Others On Watch**
YUM
YELP
JWN
Economic Calendar
| 8:30 Oct retail sales expected +0.3% and +0.4% ex autos
8:30 Oct PPI final demand expected +0.2% and -1.2% y/y 8:30 USDA weekly Export Sales 10:00 Sep business inventories expected unchanged 10:00 Preliminary-Nov University of Michigan U.S. consumer sentiment expected +1.5 to 91.5 12:30 Cleveland Fed President Loretta Mester speaks on the U.S. economic outlook |
Notable Earnings Before Open
JCP: J C Penney – EPS Est. $.55, Rev Est. $2.88B
TYC: Tyco – EPS Est. $.61, Rev Est. $2.55B
Notable Earnings After Close
NONE