Thursday April 28, 2016
Economic Calendar & Watch Lists 4/28/2016
US Futures are pointing to a sharply lower open and European stocks are trading lower by over -1.5% after the BOJ decided to place monetary policy on hold. Asian stocks closed lower led by the Nikkei sliding over -3.5%
The SPY surged higher into the late afternoon but yet again rejected the macro descending resistance point at $210. This morning, a large gap down places the closest support at the low of yesterday’s range at $208.05, followed by $207.54 and $207. Resistance will lie at the high of yesterday’s range at $209.81, closely followed by the macro descending resistance at $210.
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**
8:30 Weekly initial unemployment claims expected +12,000 to 259,000
8:30 Q1 GDP expected +0.6% q/q annualized, Q4 +1.4% q/q annualized
8:30 USDA weekly Export Sales
11:00 Apr Kansas City Fed manufacturing activity
11:30 Treasury auctions $15 billion of 2-year floating rate notes
1:00 Treasury auctions $28 billion of 7-year T-notes
Notable Earnings Before Open
BMY: Bristol Myers – EPS Est. $.66, Rev Est. $4.24B
COP: ConocoPhillips – EPS Est. $(1.07), Rev Est. $7.99B
CELG: Celgene – EPS Est. $1.28, Rev Est. $2.58B
ABBV: Abbvie – EPS Est. $1.12, Rev Est. $6.01B
TWC: Time Warner – EPS Est. $1.73, Rev Est. $6.14B
MA: Mastercard – EPS Est. $.85, Rev Est. $2.38B
BXLT: Baxalta – EPS Est. $.46, Rev Est. $N/A
F: Ford Motor Co – EPS Est. $.46, Rev Est. $34.76B
Notable Earnings After Close
AMGN: Amgen – EPS Est. $2.56, Rev Est. $5.32B
April 28th Swing Watch List
$SZYM – A great flag setup under the 2.40 mark. This is primed for a breakout move back to 2.75 or so. Long over 2.40, stop 2.25.
$NCR – A bearish move south after earnings. After a MASSIVE uptrend since February, this has been over due for a pull back. Looking for a short under 29.21, stop 30.00. Room here is down to 27.40 and then 27.