Economic Calendar & Watch Lists 5/18/2016

904

Wednesday May 18, 2016

 

Economic Calendar & Watch Lists 5/18/2016

 

Morning Notes

US Futures are relatively flat this morning as European stocks trade just slightly lower as the markets await the FOMC minutes at 2 PM EST. Yesterday, the market sold off on hawkish comments from Atlanta Fed President Lockhart and San Francisco President Williams both in belief that 2-3 hikes this year are possible.

 

Technicals

SPY518

The SPY rejected the resistance pivot at $207 and sold back below the critical support pivot at $205.25 as well as the 50 Day SMA. Support will lie at the low of yesterday’s range at $204.23, followed by $203.88 and $203.70. Resistance will lie at the former support pivot at $205.25, followed by the 50 Day SMA at $205.60 and then the high of yesterday’s range at $206.80.

 

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**

$WMT

$TGT

$LOW

 

Economic Calendar

10:30 EIA Weekly Petroleum Status Report

2:00 FOMC Minutes

 

Notable Earnings Before Open

LOW: Lowes – EPS EAst. $.85, Rev Est. $14.84B

TGT: Target – EPS Est. $1.22, Rev Est. $16.32B

HRL: Hormel – EPS Est. $.38, Rev Est. $2.3B

 

Notable Earnings After Close

LB: L Brands – EPS Est. $.55, Rev Est. $2.62B

CSCO: Cisco Systems – EPS Est. $.55, Rev Est. $11.97B
URBN: Urban Outfitters – EPS Est. $.25, Rev Est. $760.06M

 

May 18th Swing Watch List

$ARGS – Long Entry is over 6.05, add spot over 6.35. Stop will be 5.70. Target is 6.70-7.00.

$HF – Short entry under 29.00, stop 29.50. First target is 28.00 and then 27.30.

NO COMMENTS