Tuesday February 16, 2016
Economic Calendar & Watch Lists 2/16/2016
Morning Notes
US futures are higher this morning by over +1% and European markets are trading slightly lower. Strength in US markets are being led by energy producers and bank stocks early. Asian stocks closed mostly lower.
Technicals
The SPY traded higher in Friday’s session closing at the highs. This morning, the SPY is gapping up over the most recent critical pivot level of 187. Resistance will lie at $188.34, followed by $191.67 and $192.75. Support will lie at $187, followed by the high of Friday at $ $186.65, and then the low of Friday of $183.96.
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**
PANW
FB
BABA
Economic Calendar
8:30 Feb Empire manufacturing survey of general business conditions expected +9.37 to -10.00
8:30 Philadelphia Fed President Patrick Harker delivers a speech
10:00 Feb NAHB housing market index expected unch at 60
11:00 USDA weekly grain export inspections
Notable Earnings Before Open
ZTS: Zoetis – EPS Est. $.39, Rev Est. $1.25B
Notable Earnings After Close
CAKE: Cheesecake Factory – EPS Est. $ Rev Est. $
FOSL: Fossil – EPS Est. $1.30, Rev Est. $923.86M
ESRX: Express Scripts – EPS Est. $1.56, Rev Est. $26.58B
February 16th Watch List
SHOO – A previous short watch idea that is now on its way back up after bouncing on support. Long entry over 33.50, stop 33.00. Room here is to 33.80 and the 34.90 or so.
URBN – A nice uptrend after a rejection of the lows when this broke down under 20. Firmly cruising higher over the 20 and 50 EMA in all market conditions, this one has room back to reality. Long entry is over 25, add 25.20. Room here is to 27.20 and then 28.60. Stop will be 24.50 initially.
MOS – After consolidating for a bit at the 20 EMA and following a lack luster earnings performance, if market heads toward the lows, look for this to follow. Nice liquidity and decent ATR. Room here is down to 22.00 lows, but then back toward 20 after that. Short entry is under 22.50, add 22.00. Stop will be 23.00.
