Wednesday April 27, 2016
Economic Calendar & Watch Lists 4/27/2016
US Futures are slightly lower this morning as technology leads the move lower after Apple trading lower by over -8% in the premarket as the company announced its first ever revenue shortcoming in 10 consecutive years. Crude prices moved higher lifting energy producers as well as aiding in supporting the market. Europe stocks are trading relatively flat as Asian markets closed lower.
The SPY attempted to push higher in yesterday’s session and then later fell back to close slightly lower. Support will lie at the low of yesterday’s range at $208.36, followed by $207.54, $207, and $206.84. Resistance will lie at the high of yesterday’s range, followed closely by macro descending resistance at $210, then $210.25, $210.92, and $211.
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**
10:00 Mar pending home sales expected +0.5% m/m and +0.8% y/y
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC announces interest rate decision
Notable Earnings Before Open
BHI: Baker Hughs – EPS Est. $(-.33), Rev Est. $2.85B
BA: Boeing – EPS Est. $1.81, Rev Est. $21.44B
UTX: United Technologies – EPS Est. $1.39, Rev Est. $13.18B
CMCSA: Comcast – EPS Est. $.79, Rev Est. $18.64B
LLL: L-3 Communications – EPS Est. $1.57, Rev Est. $2.36B
GRMN: Garmin – EPS Est. $.43, Rev Est. $585.89M
ANTM: Anthem – EPS Est. $3.34, Rev Est. $19.86B
Notable Earnings After Close
UNM: Unum – EPS Est. $.90, Rev Est. $2.73B
TXN: Texas Instruments – EPS Est. $.62, Rev Est. $2.98B
HOLX: Hologix – EPS Est. $ Rev Est. $
FSLR: First Solar – EPS Est. $.46, Rev Est. $687.16M
MAR: Marriott – EPS Est. $.84, Rev Est. $3.68B
FB: Facebook – EPS Est. $.62, Rev Est. $5.25B
PYPL: Paypal – EPS Est. $.36, Rev Est. $N/A
SNDK: SanDisk – EPS Est. $.55, Rev Est. $1.21B
ADT: ADT Corp – EPS Est. $.50, Rev Est. $910.61M
April 27th Swing Watch List
$CSTM– On watch multiple times this year, but never seems to cooperate. It looks good here for a move over 6 resistance. Looking for a target of 6.75-7. Long entry is over 6.01-6.03, stop 5.75.
$RTK – A sweet, large bull flag with big room. Capable of high flying when volume comes in. Long entry is over 3.90, add spot over 4. Room to 4.15 and then 5.00 near the 200 EMA. So, looking for those profits every 3-5%. Stop will be 3.64.
$TSE – Still a short opportunity here, that in a weak market, could come in hard. Nice room down to 41.60 area, then 40. Short entry is under 43.70, stop 44.54.