Tuesday February 2, 2016
Economic Calendar & Watch List 2/2/2016
Morning Notes
US futures are lower this morning and European stocks are trading sharply lower by -1.5% on continued global economic concerns. The slide in crude continues and currently is trading lower by nearly -3%. Asian stocks closed mostly lower.
Technicals
The SPY attempted to push higher in yesterday’s session but lack of follow through strength raises concern. Support will lie at the low of yesterday’s range at $191.84, followed by $189.88 and the critical pivot zone of $187. Resistance will lie at the high of yesterday’s range at $194.58, followed by $194.86 and $195.85.
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**
RCL
XOM
Economic Calendar
9:45 Jan New York ISM, Dec +1.3 to 62.0
1:00 Kansas City Fed President Esther George speaks
Notable Earnings Before Open
DOW: Down Chemical – EPS Est. $.70, Rev Est. $11.2B
PFE: Pfizer – EPS Est. $.52, Rev Est. $13.57B
KORS: Michael Kors – EPS Est. $1.46, Rev Est. $1.36B
UPS: United Postal Service – EPS Est. $1.41, Rev Est. $16.28B
RCL: Royal Caribbean – EPS Est. $.92, Rev Est. $1.96B
MNK: Mallinckrodt – EPS Est. $1.81, Rev Est. $888.33M
XOM: Chevron – EPS Est. $.64, Rev Est. $51.36B
ADT: ADT Corp – EPS Est. $.46, Rev Est. $905.62M
Notable Earnings After Close
FISV: Fiserv – EPS Est. $1.00, Rev Est. $1.4B
YHOO: Yahoo! – EPS Est. $.13, Rev Est. $1.19B
WYNN: Wynn Resorts – EPS Est. $.74, Rev Est. $948.37M
February 2nd Watch List
SFM – Love the bullish setup here off the higher lows. Looking for a move over and hold of the 20 EMA. Long entry is over 24, stop 23.50. Room here is to 26.00.
BUFF – Nice bullish uptrend closing and moving through the EMAs with ease. Room here is to 18.70, then 19.30. Long entry is over 17.86, stop at 17.50.
SHAK – Watching SHAK for a breakout move over the current flag and top of the channel. Room here is to 40.00. Long entry is over 36.80 and an add spot over 37. Stop will be 36.50.
DWA – On short watch for a breakdown under the 200 EMA after testing major long term support at that area. Short entry will be under 23.50, add spot under 23.18. Stop will be 24. Room here will be to 22.00.
HPT – On short watch for a breakdown under range lows. Short entry is under 22.28, stop at 23.00. First target is 21.62 and then 20.70.
