Economic Calendar & Watch Lists 2/3/2016

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Wednesday February 3, 2016

 

Economic Calendar & Watch List 2/3/2016

 

Morning Notes

US futures are slightly higher this morning as crude rebounds from yesterday and moves back above $30. European stocks are trading lower by nearly -1% and Asian stocks closed mostly lower.

 

Technicals

SPY23

The SPY drifted lower in yesterday’s session after the lack of follow through action on Monday. Support will lie at the low of yesterday’s range at $189.54, followed by the critical pivot and reversal point at $187.16 – $187. Resistance will lie at the high of yesterday’s range at $191.97, followed by $194.58 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**

XON

FB

 

Economic Calendar

7:00 Weekly MBA mortgage applications, previous +8.8%

8:15 Jan ADP employment change expected +193,000, Dec +257,000

9:45 Final-Jan Markit services PMI expected unrevised at 53.7

10:00 Jan ISM non-manufacturing index expected -0.7 to 55.1

10:30 EIA Weekly Petroleum Status Report

 

Notable Earnings Before Open

CMCSA: Comcast – EPS Est. $.82, Rev Est. $18.77B

MRK: Merck – EPS Est. $.91, Rev Est. $10.35B

GM: General Motors – EPS Est. $1.22, Rev Est. $39.03B

 

Notable Earnings After Close

YUM: Yum! Brands – EPS Est. $.66, Rev Est. $4.02B

MDLZ: Mondelez – EPS Est. $.48, Rev Est. $7.27B

MET: Metlife – EPS Est. $1.36, Rev Est. $17.61B

GPRO: GoPro – EPS Est. $(.12), Rev Est. $499.23M

 

February 3rd Watch List

NLNK – Announced that they are working on the Zika Virus and have a nice reversal pattern underway. Looking for a long entry over 26.20, stop 25.50. Room here is to 28.80 and then 32.

NMBL– On watch for a move back to range highs before earnings. Long entry is over 7.10, stop 6.75. Room here is to 7.80, then we could see 9.25.

CRAY – On short watch for the breakdown after failing resistance at 40. Short entry is under 37.40, stop 38.00. Room here is to 36, and then 34.50.

VEEV – On short watch for a potential breakdown of multi day lows. Looking for an entry below 23.00, stop 23.50. Room here is 22.50 and then 22. Then, 21-19.50 longer term.

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