Economic Calendar & Watch Lists 5/10/2016


Tuesday May 10, 2016


Economic Calendar & Watch Lists 5/10/2016


Morning Notes

US Futures are sharply higher this morning while European stocks are trading higher by +1.5% as the strength in oil continues. European banks are strong after Credit Suisse is trading higher by +5% after posting a narrower than expected quarterly loss. Asian stocks settled mostly higher, led by Japan’s Nikkei up +2.2%.




The SPY edged slightly higher in yesterday’s session and is gapping higher early this morning. Due to the gap, support will lie first at the high of yesterday’s range at $206.40, followed by the low of yesterday’s range at $205.36, and the 50 Day SMA at $204.67. Resistance will lie at $206.80, followed by the critical resistance pivot at $207, and then $208.18.


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**





Economic Calendar

10:00 Mar wholesale inventories expected +0.1% m/m

10:00 Mar JOLTS job openings expected +5,000 to 5.45M

12:00 USDA May WASDE crop production

1:00 Treasury auctions $24B 3-year T-notes


Notable Earnings Before Open

AGN: Allergan – EPS Est. $2.99, Rev Est. $3.96B


Notable Earnings After Close

DIS: Walt Disney – EPS Est. $1.40, Rev Est. $13.21B

EA: Electronic Arts – EPS Est. $.42, Rev Est. $888.78M


May 10th Swing Watch List

$SINA – On short watch for a breakdown under the support level at 49. Room down 46.60. Short entry is under 48.78, stop 49.25.