Wednesday January 27, 2016
Economic Calendar & Watch List 1/27/2016
Morning Notes
US futures are pointing lower this morning by -6% while European markets are trading lower by over -1% as AAPL reported weak sales and revenue and is trading lower by nearly 4% in the pre market. Markets will await the results of the FOMC meeting announced today at 2 PM EST. Asian stocks closed mixed.
Technicals
The SPY traded higher in yesterday’s session and managed to hold the gains into the close. Support will lie at the low of yesterday’s range at $188.02, followed by $187.41 and $184.64. Resistance will lie at the high of yesterday’s range at $190.53, followed closely by $190.76.
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**
AAPL
BA
Economic Calendar
10:00 Dec new home sales expected +2.0% to 500,000
10:30 EIA Weekly Petroleum Status Report
11:30 Treasury auctions $15 billion 2-year floating-rate notes
1:00 Treasury auctions $35 billion 5-year T-notes
2:00 FOMC announces interest rate decision
Notable Earnings Before Open
HES: Hess – EPS Est. $(1.36), Rev Est. $1.56B
BIIB: Biogen – EPS Est. $4.07, Rev Est. $2.71B
BA: Boeing – EPS Est. $1.26, Rev Est. $23.55B
GD: General Dynamics – EPS Est. $2.35, Rev Est. $8.24B
ANTM: Anthem – EPS Est. $1.23, Rev Est. $19.9B
EMC: EMC Corp – EPS Est. $.65, Rev Est. $7.13B
STJ: St Jude Medical – EPS Est. $1.01, Rev Est. $1.47B
ITW: Illinois Tool Works – EPS Est. $1.21, Rev Est. $3.24B
NSC: Norfolk Southern – EPS Est. $1.27, Rev Est. $2.57B
Notable Earnings After Close
LRCX: Lam Research – EPS Est. $1.42, Rev Est. $1.41B
QCOM: Qualcomm – EPS Est. $.90, Rev Est. $5.69B
TSCO: Tractor Supply – EPS Est. $.82, Rev Est. $1.66B
SNDK: SanDisk – EPS Est. $.89, Rev Est. $1.44B
URI: United Tool Rental – EPS Est. $2.35, Rev Est. $1.53B
CCI: Crown Castle – EPS Est. $1.12, Rev Est. $928.53M
EBAY: eBay – EPS Est. $.50, Rev Est. $2.32B
JNPR: Juniper Networks – EPS Est. $.59, Rev Est. $1.3B
FB: FaceBook – EPS Est. $.68, Rev Est. $5.37B
January 27th Watch List
FLS – On swing watch for a continuation of the reversal off the bottom. Nice and strong move up followed by decent flag period with more room to go. Looking for a long entry over 37.54, stop 37.00. Target 38.90-39.50.
EARS – Previous big runner with another setup looking to move higher. Long entry will be over 4.50, stop 4.20. First target is 5.00 and then 5.40.
APOL – A nice bullish breakout over resistance under way here, with some more room to go. Long entry will be over 8.10, stop 7.75. Room here to 8.40 and then it opens up to 10.
UBNT – On short watch while testing long term support at 28.50. Short entry will be under 28.35, stop 29.00. First target is 27.60, and then 27.00.
WMGI – On short watch for the breakdown under 20.00 after multiple tests in a few year weeks. Longer term support loves to fail hard in weak markets. Short entry is under 20.30 for a starter, add spot under 20.00. First target is 19.00.
FB – On watch for an earnings straddle before the close. Will alert details of the trade if taken.
