Monday March 14, 2016
Economic Calendar & Watch Lists 3/14/2016
US Futures are slightly lower this morning and European stocks are higher by nearly +1% as the market awaits the results of the Fed’s 2 day policy meeting beginning tomorrow. Crude oil slid nearly -2% overnight pulling energy producers lower. Asian stocks closed higher as the Nikkei closed +1.75%.
The SPY surged higher in yesterday’s session closing on highs and back above the 200 day SMA at $202.81. Support will lie at the 200 day SMA at $202.11, followed by $200, $199.52, and critical pivot zone of $197.60 – $197.40. Resistance will lie at the high of Friday’s range at $202.81, followed by $203.87 and $205.89.
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**
11:00 USDA weekly grain export inspections
Notable Earnings Before Open
$DDD: 3D Systems – EPS Est. $.09, Rev Est. $166.38M
Notable Earnings After Close
March 14th Watch List
$IPHI – A strong move up off 22 support in a short time. This is holding the EMAs and trading under a big top. Looking good here for a move back to 29.50. Long entry will be over 27.75, add spot over 28.07. Stop initially will be 27.30.
$OI – A nice liquid reversal setup. After a big curl off the bottom under 14, momentum says we could test the highs here and potentially get back to 17. First stop will be 15.50s. Long entry is over 14.81, add over 15. Stop will be 14.50 to start.
$CSII – A previous watch lister with a great gap to fill. Looking for a move toward that gap as this thing keeps legging up with higher highs/lows. Long entry is over 10.25, stop 10.00. Add spot 10.71. Target will be somewhere on the way to 12.
$JWN – My favorite place to shop for clothes, but definitely ready for a short first. After a 30% move up in 2016, it could be time for breather. Looking for a short under 56. Room here is down to 54.70 and then 53.15. Alternatives to this with options Apr16 57.5p debit 3.50 or less. Also, can do a bear call spread for maximum probability, but capped reward or a bear put spread for a debit for something in between.