Economic Calendar & Watch Lists 3/16/2016

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Wednesday March 16, 2016

 

Economic Calendar & Watch Lists 3/16/2016

 

Morning Notes

US Futures are unchanged this morning as the markets await the results of the Fed’s 2 day policy meeting at 2 P.M. EST. European stocks are trading relatively flat while Asian stocks closed mixed.

 

Technicals

SPY316

The SPY is relatively flat this morning with support at the low of yesterday’s range at $201.05, followed by a critical pivot level of $200.05 followed by $199.52. Resistance will lie at the 200 day SMA at $202.01, followed by the high of yesterday’s range at $202.53 and $203.04.

 

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**

$LNKD

$FOSL

Economic Calendar

8:30 Feb housing starts expected +4.6% to 1.150M, Jan -3.8% to 1.099M

8:30 Feb CPI expected -0.2% m/m and +0.9% y/y

9:15 Feb industrial production expected -0.3%, Jan +0.9%

10:30 EIA Weekly Petroleum Status Report

2:00 FOMC Rate Decision

2:30 Fed Chair Janet Yellen holds press conference

 

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

$FDX: FedEx – EPS Est. $2.33, Rev Est. $12.4B

$WSM: Williams Sonoma – EPS Est. $1.59, Rev Est. $1.62B

 

March 16th Watch List

$SINA – A super solid bull flag setup with nice room to the next level of resistance. I like this for a long over 47, stop 46. Add spot over 48.17. The target will be 49-50 short term.

$FDX – On watch for an earnings iron condor. I am watching the low IV on this and expecting a big pop tomorrow, and a good fill for a higher credit. Looking at the Mar16 136/138/148/150 for a credit of .80 to start. I will monitor and adjust as the day goes on, if I do not get my fill.

$CTRP – Another earnings iron condor to watch for. This has some big IV and anyhthing short of the market maker move under $6, and this will give us that crush. Mar16 33/36/46/49 for a credit of .75 to start. I will monitor and adjust as the day goes on, if I do not get my fill.

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