Monday January 25, 2016
Economic Calendar & Watch List 1/25/2016
US futures are slightly lower this morning and European stocks are also trading in the negative after a -3.5% slide in crude overnight. Asian stocks closed mostly higher.
The SPY traded higher into Friday’s close on a much narrower range than the previous few sessions. Support will lie at the low of Friday’s range at major pivot level of $188.87, followed by $184.64 and $181.02. Resistance will lie at the high of Friday’s range at $190.76, followed by $193.26 and $194.86.
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**
9:30 Jan Dallas Fed manufacturing activity expected +6.1 to -14.0
11:00 USDA weekly grain export inspections
Notable Earnings Before Open
HAL: Halliburton – EPS Est. $.24, Rev Est. $5.11B
KMB: Kimberly Clark – EPS Est. $1.44, Rev Est. $4.57
MCD: McDonald’s – EPS Est. $1.23, Rev Est. $6.22B
DHI: DR Horton – EPS Est. $.42, Rev Est. $2.4B
Notable Earnings After Close
ZION: Zion Bancorporation – EPS Est. $.41, Rev Est. $566.9M
January 25th Watch List
DBD – An oversold tech stock with a nice reversal and clean chart with room. After putting in a strong bottom, moving up out of the range on Friday was the first sign of a bigger bullish move. Long entry here is over 26, stop 25.50. Room here is to 27.00 and then the 30 spot, with light resistance along the way.
OLLI – On watch as this up trender has defied market madness! FINALLY in a setup for a bigger move to the upside if it can breakout over the range highs. Long entry over that spot, 19.65, stop 19.25. Room is back to 20.80 and then potentially, 23.
BID – A great looking setup with massive relative volume following some good news for the company. Trading sideways at a bottom, but testing the 20 EMA Friday and showing signs of bullishness. Long entry here is over 24, stop 23.50. Room is to 25 and then 27.
NFLX – Struggling to hold the 200 EMA in both bear and bull markets following earnings, I see this back under a $100 for a short time, especially if market is soft. Look for a short under 98.90, stop 100.00. Room here is down to 93 short term.