Tuesday January 19, 2016
Economic Calendar & Watch List 1/19/2016
Morning Notes
US futures are pointing sharply higher this morning by over +1.7% and European stocks are trading significantly higher as well by over +2% fueled by the price of crude moves higher and a strong rally in China’s Shanghai by +3%. Asian stocks closed higher.
Technicals
The SPY broke down through a critical support level on Friday but managed to reclaim and close above back above it into the session close. Due to today’s gap higher, support will lie at the high of Friday’s range at $188.76. Resistance will lie at $193.26, followed by $194.86 and $195.86.
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**
BABA
TIF
MS
WYNN
Economic Calendar
10:00 Jan NAHB housing market index expected unch at 61
11:00 USDA weekly grain export inspections
Notable Earnings Before Open
SCHW: Charles Schwab – EPS Est. $.25, Rev Est. $1.61B
UNH: United HealthCare – EPS Est. $1.38, Rev Est. $43.23B
BAC: Bank of America – EPS Est. $.26, Rev Est. $19.78B
MS: Morgan Stanley – EPS Est. $.33, Rev Est. $7.59B
DAL: Delta Airlines – EPS Est. $1.19, Rev Est. $9.61B
Notable Earnings After Close
NFLX: NetFlix – EPS Est. $.02, Rev Est. $1.83B
IBM: International Business Machines – EPS Est. $4.81, Rev Est. $22.04B
January 19th Swing Watch List
HTWR – From short watch last week to long watch this week. This gap down is climbing up and out of obscurity. This sold off after news from a recent conference and has been the topic of activist investor woes. At any rate, these 2010 levels are unjustified. Looking for a long entry over 31, stop 30. Room here is to 35 and then 40.50. This could be a big winner, but keep in mind, a larger ATR as well.
IPI – An interesting reversal setup on this small cap. Looking for a move back toward 2.60-3 in the short term. long entry here is over 2.20, stop 2.00.
APOL – A previous big runner and momentum name, APOL has a nice bull flag setup at these levels with great upside. Looking for a move to 8.40, then 9.60+ into the gap. Long entry is over 7.70, stop 7.50.
YUM – On short watch after taking a beating. Facing short term triple bottom support, if that fails, down the rabbit hole we go. Looking for a short under 66.75, stop 67.25. Room here is to 66.30 and then 65.80s.
