Wednesday April 20, 2016
Economic Calendar & Watch Lists 4/20/2016
Morning Notes
US futures are relatively flat this morning while European stocks are trading just slightly higher. INTC reported earnings and is trading lower by -2% in the premarket, dragging technology stocks lower. Energy producers are also trading lower after the price of crude slipped -1.5%. Asian stocks closed mixed.
Technicals
The SPY edged higher in yesterday’s session and managed to push through and close above a macro descending resistance point which lies just under $210. Support will lie at the low of yesterday’s range at $208.94, followed by the low of Monday at $207. Resistance will lie at the high of yesterday’s range at $210.20, followed closely by $211, $211.50, $211.66, and $211.77.
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**
$NFLX
$BA
Economic Calendar
10:00 Mar existing home sales expected +3.9% to 5.28M
10:30 EIA Weekly Petroleum Status Report
Notable Earnings Before Open
ABT: Abbott Laboratories – EPS Est. $.39, Rev Est. $4.77B
KO: Coca Cola – EPS Est. $.44, Rev Est. $10.28B
TXT: Textron – EPS Est. $.53, Rev Est. $3.17B
HBAN: Huntington Bancshares – EPS Est. $.20, Rev Est. $757.54M
USB: US Bancorp – EPS Est. $.75, Rev Est. $5.06B
EMC: EMC Corp – EPS Est. $.33, Rev Est. $5.64B
STJ: St Jude Medical – EPS Est. $.88, Rev Est. $1.43B
Notable Earnings After Close
FFIV: F5 Networks – EPS Est. $1.63, Rev Est. $485.93M
KMI: Kinder Morgan – EPS Est. $.19, Rev Est. $3.76B
TSCO: Tractor Supply – EPS Est. $.46, Rev Est. $1.45B
MAT: Mattel – EPS Est. $(-.08), Rev Est. $861.08M
AXP: American Express – EPS Est. $1.36, Rev Est. $8.08B
April 20th Swing Watch List
$TROX – On watch for breakout continuation following a nice influx of volume. Long entry is over 7.12, stop 6.82. Room here is to the 7.28 add spot and then to 7.75.
$TSE – In overbought territory after moving up 90%+ in 2016, this is seriously due for a pull back after making new highs for a month now. Looking for a reversal, room is down to 39, and then 36 area. Short entry is under 42, add spot under 41.62.
