Economic Calendar & Watch Lists 4/6/2016

986

Wednesday April 6, 2016

 

Economic Calendar & Watch Lists 4/6/2016

 

Morning Notes

US futures are relatively flat this morning while European stocks are slightly green. Crude oil moved higher by nearly 3% into late yesterday after the weekly API report. Asian stocks closed mixed.

 

Technicals

SPY46

The SPY traded sharply lower in yesterday’s session closing out just off the lows of the day. Support will lie at the low of yesterday’s range at $203.98, followed by $202.40, $201.74, and the 200 day SMA at $201.61. Resistance will lie at the critical pivot zone of $205.25, followed by the high of yesterday’s range at $206.26, then $207.07.  

 

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**

$CREE

$STZ

Economic Calendar

10:30 EIA Weekly Petroleum Status Report

12:20 Cleveland Fed President Loretta Mester speaks

2:00 Minutes of the Mar 15-16 FOMC meeting

 

Notable Earnings Before Open

STZ: Constellation Brands – EPS Est. $1.14, Rev Est. $N/A

MON: Monsanto – EPS Est. $2.44, Rev Est. $4.76B

 

Notable Earnings After Close

BBBY: Bed Bath & Beyond – EPS Est. $1.81, Rev Est. $3.39B

 

 

April 6th Swing Watch List

$FIX – Long here is over the top of this funky flag, and at 32.70-32.75. Room here is to 34. Stop will be 32.00 initially. Nice bump in relative volume.

$RUN – A slightly more speculative setup here. RUN has a history of explosive and huge moves. Looking to get in at a key technical area for the next big move. Long is over 6.66-6.70, stop 6.50. First target is 7, then 7.24.

$XON – Even though I am already long IBB, I wouldn’t mind jumping into a weak short setup, as seen with XON. Nice bear chart after the close below its EMAs. Short entry is under 33, stop 34. Room here is down to 30, short term.

NO COMMENTS