Friday March 11, 2016
Economic Calendar & Watch Lists 3/11/2016
Morning Notes
US Futures are higher by over +1% as European markets are also trading sharply higher by over +3%. Bank stocks are leading the push higher along with the +2.5% jump in Crude. Asian stocks also closed higher.
Technicals
The SPY traded in an extended range throughout yesterday’s session providing more opportunities than we have seen as of late. Support will lie at the low of yesterday’s range at $197.38, followed by $197.25 and $194.45. Resistance will lie first at the $200 level, followed by the high of yesterday’s range at $201.07, $201.35, and the 200 day SMA at $202.16.
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**
$ULTA
Economic Calendar
8:30 Feb import price index expected -0.7% m/m and -6.5% y/y
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
March 11th Watch List
$NAVI – Nice consolidation under 11.75 long term resistance. Will be looking to get this back up to 13. First target is 12.70s. Long entry over 11.75-11.80, stop 11.50.
$GLDD – A very light volume small cap with a great bull flag setup. This is a nice looking breakout over 3.82, stop 3.60. Room here is 5 and then 4.25.
$PAH -A sweet bullish setup trading at the 20/50 EMA with a ton of upside. Nice catalyst in play from BofA initiating coverage with a buy rating. Looking for this to get back to 10 in a hurry. Long entry will be over 8.60 and an add spot over 8.70. Stop will be 8.00 initially.
$CSL – On watch for a reversal as it will tap major resistance around 95.40 and 95.74. Looking for a short around those levels, or, back under 94.60 if this starts coming in before that. Target will be 92.00 and then 90.00.