Thursday December 10, 2015
Economic Calendar & Watch List 12/10/2015
Morning Notes
US futures are slightly higher this morning on continued chatter about the economy being strong enough to handle a interest rate hike at the Fed meeting next week. European stocks are trading lower led by a slide in energy producers. Asian stocks closed mostly lower.
Technicals
The SPY traded sharply lower after rejecting the 200 day moving average which provided great volatility and trading. Support will lie at the low of yesterday’s range at $204.18 which then opens up to $202.18. Resistance will lie at the 200 day moving average at $206.52, followed by the high of yesterday’s range at $208.68.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
CIEN – 1Q Rev. View Misses Lowest Est. Nice tradeable pockets. Will watch price action and volume for direction.
MW – May Miss Lower End of Yr Forecast; Downgraded at Stifel. Need to see strong selling pressure to penetrate the underlying support in order to get into the pocket below 13.8.
FSLR – Sees 2016 Sales $3.9B to $4.1B, Est. $3.94B; Downgraded at Needham. Levels for a daytrade are not ideal as it is a bit congested. Will need to see this start to sell on some volume in order for the price to enter the pocket below $52. A break and hold below 53 (200 moving average on daily) will begin to look interesting.
Economic Calendar
8:30 Weekly initial unemployment claims expected unch at 269,000, previous +9,000 to 269,000
8:30 Nov import price index expected -0.8% m/m and -9.6% y/y
8:30 USDA weekly Export Sales
11:00 Treasury announces amount of 5-year TIPS to be auctioned Dec 17
11:30 Treasury auctions $13 billion 30-year T-bonds
2:00 Nov monthly budget statement expected -$68.0 billion
Notable Earnings Before Open
CIEN: Ciena – EPS Est. $.38, Rev Est. $683.56M
Notable Earnings After Close
ADBE: Adobe – EPS Est. $.60, Rev Est. $1.31B
FNSR: Finisar – EPS Est. $.23, Rev Est. $315.15M
RH: Restoration Hardware – EPS Est. $.63, Rev Est. $540.71M
