Monday March 28, 2016
Economic Calendar & Watch Lists 3/28/2016
Morning Notes
US Futures are slightly higher this morning while European markets are closed for the Easter Holiday. Crude is trading higher by roughly +.50% lifting energy producers. Asian markets closed mixed.
Technicals
The SPY tested its 200 day SMA in Thursday’s session and closed out on the highs. Support will lie at the 200 day SMA at $201.80 followed by the low of Thursday’s range at $201.74, then $201.55 and $201.05. Resistance will lie at the 9 EMA at 203.11, followed by the high of Thursday’s range at $203.16, then $204.33, and the double top at $205.23.
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**
$GME
Economic Calendar
8:30 Feb personal spending expected +0.1%, Jan +0.5%
8:30 Feb PCE deflator expected -0.1% m/m and +1.0% y/y
10:00 Feb pending home sales expected +1.1% m/m
10:30 Mar Dallas Fed manufacturing activity expected +5.8 to -26.0
11:00 USDA weekly grain export inspections
1:00 Treasury auctions $26 billion of 2-year T-notes
Notable Earnings Before Open
CALM: Cal Maine Foods – EPS est. $.99, Rev Est. $463.46M
Notable Earnings After Close
NONE
March 28th Swing Watch List
$CBK – A recent BIG mover and now in a bull flag, this could explode back to $3. After the earnings report, this ended up flying up nearly 50%. Looking for a similar move to 3.00 now that the pullback to support is complete. Big hurdle at the 200 EMA tho. Long entry is over 2.41, stop 2.18. Add spot over 2.55.
$ENV – A nice flat top forming under 26 here with room to 28.30, now that the 20 and 50 EMA are support. Even better, the 20 EMA is about to cross the 50 EMA and give us a bullish signal. Long entry over 26, stop 25. Room here is to 28.30 with no resistance.
$SRCL – Following a lovely ~20% move up after earnings, SRCL is finally slowing at its 200 EMA. Looking for a pull back to short. Short entry will be under 124.00 with an add under 123.00. Room here is to 121, first target.
No notable earnings. Will look to close out GME around .10 debit to lock in profits.
