Economic Calendar & Watch List 12/16/2015

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Tuesday December 16, 2015

 

Economic Calendar & Watch List 12/16/2015

 

Morning Notes

US futures are slightly higher this morning by roughly +.5% and European stocks are also trading higher by +.7% as the market awaits the results of the Fed’s meeting and whether or not interest rates will be raised. Currently, the markets are expecting rate hike of .25% and any future rate hikes will be gradual in pace. Asian stocks closed mostly higher.

 

Technicals

SPY_12_16

The SPY  traded in a wide range in yesterday’s session making for some volatile price action which, in turn, provides for many day trading opportunities. Support will lie at the low of yesterday’s range at $202.87, followed by $199.95. Resistance will lie at the high of yesterday’s range at $206.11 which also coincides with the 50 day moving average at $206.10. Thereafter, the 200 day moving average lies nearby at $206.37, followed by $207.43, $208.68, and $209.73.

 

Small Cap Watch List

 

**Others On Watch**

SCTY

VRX

 

Economic Calendar

8:30 Nov housing starts expected +6.6% to 1.130 million

9:15 Nov industrial production expected -0.1% m/m

10:30 EIA Weekly Petroleum Status Report

2:00 FOMC announces interest rate decision expected +25 bp rate hike to 0.25%-0.50%

 

Notable Earnings Before Open

JOY: Joy Global – EPS Est. $.42, Rev Est. $791.14M

 

Notable Earnings After Close

FDX: Fedex – EPS Est. $2.52, Rev Est. $12.45B

ORCL: Oracle – EPS Est. $.60, Rev Est. $9.06B

JBL: Jabil Circuit – EPS Est. $.80, Rev Est. $5.22B

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