Friday February 19, 2016
Economic Calendar & Watch Lists 2/19/2016
Morning Notes
US futures are lower this morning and European stocks are trading lower by over -1.25% as the price of crude slides lower after the EIA report showed the build to be the highest in since this data has began back in 1982. Asian stocks closed predominantly lower.
Technicals
The SPY traded sideways and on an inside day in yesterday’s session making for unfavorable price action. Support will lie at the low of yesterday’s range at $191.72, followed by $191.01, $189.81, and $187.63. Resistance will lie at the high of yesterday’s range at $193.27, closely followed by $193.32, and then $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**
DE
VFC
JWN
Economic Calendar
8:30 Cleveland Fed President Loretta Mester will speak at a breakfast meeting on the economic outlook at the Global Interdependence Center
8:30 Jan CPI expected -0.1% m/m and +1.3% y/y
8:30 USDA weekly Export Sales
Notable Earnings Before Open
DE: Deere & Co – EPS Est. $.70, Rev Est. $4.94B
VFC: VF Corp – EPS Est. $1.01, Rev Est. $3.64B
COG: Cabot Oil & Gas – EPS Est. $(.02), Rev Est. $333.56M
Notable Earnings After Close
NONE
February 19th Watch List
NMBL – Finally looking to trade over its 20 EMA for the first time in half a year. Long entry is over 6.58, stop 6.25. Target is 7.50, and then to the 50 EMA at 8.75.
UVE – On swing watch for continuation over $19.00. Stop will be 18.50. First target is 19.70-19.90, and then 20.50s.
MCRB– Short watch for a breakdown of long term support, after failing to hold up over the 20 EMA. Will move down with IBB. Short entry is under 24.00, stop 24.75. Target is 22.70 and then 21.
PFPT – Another short idea after a parabolic recovery with the markets. Looking for short entry under 41.00, 42.00. Room here is to 40 and then 38.20.
