Friday February 5, 2016
Economic Calendar & Watch List 2/5/2016
Morning Notes
US futures are slightly higher along with European stocks as the market awaits the monthly payroll report. Asian stocks closed mixed.
Technicals
The SPY traded is a tight, consolidation range throughout the majority of yesterday’s session while creating a more defined, secondary pivot point near $190. Support will lie at the low of yesterday’s range at $189.96, followed by the critical pivot of $187. Resistance lies at the high of yesterday’s range at $192.75, followed by $194.58.
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**
DATA
TSN
LNKD
Economic Calendar
8:30 Jan non-farm payrolls expected +190,000, Dec +292,000
8:30 Jan avg hourly earnings expected +0.3% m/m and +2.2% y/y
8:30 Dec trade balance expected -$43.20 billion
3:00 Dec consumer credit expected +$16.0 billion
Notable Earnings Before Open
TSN: Tyson – EPS Est. $.89, Rev Est. $10.07B
EL: Estee Lauder – EPS Est. $1.11, Rev Est. $3.08B
Notable Earnings After Close
NONE
February 5th Watch List
TGH – A lovely looking top forming just under 11 here. Also, my TAS indicators tell me there is a squeeze zone just above 11. Long entry is over 10.85 and then an add over 11.03. Room here is to 12.60 or so on the chart with light resistance over the 11.30 area.
HST – Another bull flagISH breakout here over the 20EMA. Nice room back to 15 and then 15.50. Long entry is over 14.30, stop 14.00.
KND – Nice wedge formation here with a lot of room to pop. A long over 10 should push things to 11.15 and then 12.30. A stop will be 9.75 initially.
ANF – Potential short move back toward 23.90 and then 23.40 if sell off continues following lower highs. Short entry is under 25.00, stop 25.50.