Economic Calendar & Watch Lists 1/29/2016

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Friday January 29, 2016

 

Economic Calendar & Watch List 1/29/2016

 

Morning Notes

US futures are higher this morning and European markets are also trading higher as a global rally in equities ensues after the BOJ adopts a negative interest rate. Microsoft (MSFT) reported better than expected earnings and is trading higher by 3% in the pre market, lifting tech stocks. Asian stocks closed higher.

 

Technicals

SPY129

The SPY traded on an inside day in yesterday’s session and consolidating at a new relative pivot zone near $187. Support will lie at the pivot of $187.16 and $187.06. Beyond the pivot, the next support lies at $184.64. Resistance will lie at the high of yesterday’s range at $190.20, followed by $191.56 and $193.26.

 

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**

AAL

ABBV

MA

 

Economic Calendar

8:30 Q4 GDP expected +0.8%, Q3 +2.0%. Q4 personal consumption expected +1.8%

8:30 Q4 employment cost index expected +0.6%, Q3 +0.6%

8:30 USDA weekly Export Sales

9:00 Jan Milwaukee ISM expected +1.47 to 50.00

9:45 Jan Chicago PMI expected +2.4 to 45.3

10:00 University of Michigan final-Jan U.S. consumer sentiment index expected -0.3 to 93.0

3:30 San Francisco Fed President John Williams speaks

 

Notable Earnings Before Open

HON: Honeywell – EPS Est. $1.59, Rev Est. $9.98B

CVX: Chevron – EPS Est. $.47, Rev Est. $28.72B

AAL: American Airlines – EPS Est. $1.96, Rev Est. $9.65B

STX: Seagate technology – EPS Est. $.71, Rev Est. $2.94B

MA: Mastercard – EPS Est. $.68, Rev Est. $2.56B

ABBV: Abbvie – EPS Est. $1.13, Rev Est. $6.39B

BXLT: Baxalta – EPS Est. $.56, Rev Est. $NA

WHR: Whirlpool – EPS Est. $3.9, Rev Est. $5.74B

 

Notable Earnings After Close

NONE

 

January 29th Watch List

MTCH – Looking for a return to 13.50 before earnings. Long entry is over 12.61, possible add spot over 12.77. Stop will 12.25.

TNK – Looking for a sharp return and quick resolution back to the 20 EMA and 5.10+. Long entry here is over 4.71, add spot 4.85. Stop here is 4.60.

ZBH – On short watch for a return to 93.80. Short entry will be under 97, first target is 95, then 93.80 support. Stop will be 98.20.

OPHT – On short watch with this weak setup matching up with a weak IBB. Looking for a short entry under 52.50, room down to 50.20, then 48.00. Stop will be 54.50 initially. This has a large ATR, so trade with smaller size to better manage risk.

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