Monday February 29, 2016
Economic Calendar & Watch Lists 2/29/2016
Morning Notes
US futures are slightly lower this morning and European stocks are trading lower by -.5% as the G-20 meeting concludes in Shanghai. The results of the meeting were mixed. No uniform decision was reached to aid in stimulus which would support the global economy. Asian stocks closed mostly lower.
Technicals
The SPY traded lower in Friday’s session closing just off the lows. Support will lie at the low of Friday’s range at $194.90, followed by the 50 day moving average at $194.33, and then $192.83 and $189.32. Resistance will lie at the high of Friday’s range at $196.68, followed by significant resistance from $197.40 – $197.60.
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**
VRX
FB
SIG
Economic Calendar
9:00 Feb Milwaukee ISM expected -0.36 to 50.00
9:45 Feb Chicago PMI expected -3.1 to 52.5
10:00 Jan pending home sales expected +0.5% m/m and +4.1% y/y
10:30 Feb Dallas Fed manufacturing activity expected +4.6 to -30.0
11:00 USDA weekly grain export inspections
Notable Earnings Before Open
ENDP: Endo International – EPS Est. $1.27, Rev Est. $1.07B
VRX: Valeant Pharmaceuticals – EPS Est. $2.59, Rev Est. $2.75B
ATML: Atmel – EPS Est. $.07, Rev Est. $271.88M
Notable Earnings After Close
HTZ: Hertz – EPS Est. $.04, Rev Est. $2.52B
WDAY: Workday – EPS Est. $(.05), Rev Est. $319.63M
JUNO: Juno Therapeutics – EPS Est. $(.54), Rev Est. $N/A
XON: Intrexon – EPS Est. $(.18), Rev Est. $41.82M
February 29th Watch List
ADRO – A nice recovery in a biotech with room to 17.60-18. Definitely a breakout candidate over 15.40-15.50, stop 15. First target and potential add spot will be 16.10.
SHLD – On swing watch for a return to bullish territory if the crossover of the 50 EMA can hold up. Room is to 21. Long entry is over 18.50, add spot over 19.05. Stop will be 19.00.
ATI – On watch for breakout over the top at 12.75. Long starter will be over 12.50, add spot 12.75-12.80. Stop will be 12.00. First target will be 13.60 and then 14.60.
CATM – On short watch for a reversal after a 20% run in just a few weeks. Short entry will be under 33.50 or near 34.11 highs if we test that area. Stop will be 34.11. Target is 32 and then 31.60.
VTR – Another big 20% post earnings runner. A clean chart for a candle under candle entry at 54.99. Stop 55.75. First target and possible add spot at 54.00, then next target at 53.50.
FL – Following uneventful earnings, this has room to fall if support at 63 caves. Entry will be under 63.75, stop 64.50. Add to this under 63.00, with a target of 61.30.
