Thursday April 8, 2016
Economic Calendar & Watch Lists 4/8/2016
Morning Notes
US futures are modestly higher this morning while European stocks are trading higher by over +1% led by a +3.5% move in crude lifting energy producers. Asian stocks closed mixed.
Technicals
The SPY broke through the support pivot of $205.25 and closed back below in yesterday’s session. Support will lie at the low of yesterday’s range at $203.09, followed by $202.40, $201.74, and the 200 day SMA at $$201.54. Resistance will lie at the resistance pivot of $205.25, followed by the high of yesterday’s range at $205.56, $207.07, and $207.14.
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**
$GPS
Economic Calendar
8:30 New York Fed President William Dudley gives a speech
10:00 Feb wholesale inventories expected -0.2%
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
April 8th Swing Watch List
$CHMA – A tasty looking flat top setup for a breakout and move to 12. Looking for a long over 11.10, stop 10.50. First target will be 11.70s.
$NVCR – On the way up and crossing EMAs with nice volume in a down market. Looking for a move to 15.30 and then 16+ short term. Long entry is over 14.90., stop 14.50.
$MTX – Testing the 200 EMA support area and moving down on big volume. This light volume mover has room down to 52 and then 50. Looking for an entry under 53.70, stop 54.30.
