Economic Calendar & Watch Lists 5/19/2016

2094

Thursday May 19, 2016

 

Economic Calendar & Watch Lists 5/19/2016

 

Morning Notes

US Futures are slightly lower this morning while European stocks also trade lower by nearly -1% after yesterday’s sharp move lower in result of the FOMC minutes which suggested a rate hike in June. As probability increases of a June rate hike, the dollar strengthened which undercut crude and gold prices into late day trading. Asian stocks closed mostly lower.

 

Technicals

SPY519

The SPY sold off in yesterday’s session on increased volume and closed back below the recent support pivot at $205.25. Support will lie at the low of yesterday’s range at $203.63, followed by $203.09, and $202.40. Resistance will first lie at the resistance pivot at $205.25, followed by the 50 day SMA at $205.73, and then the high of yesterday’s range at $206.30.

 

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**

$CRM

$LB

$DKS

 

Economic Calendar

8:30 Weekly initial unemployment claims expected -19,000 to 275,000

8:30 Apr Chicago national activity index expected +0.24 to -0.20

8:30 May Philadelphia Fed business outlook survey expected +4.6 to 3.0

8:30 USDA weekly Export Sales

9:15 Fed Vice Chair Stanley Fischer

10:00 Apr leading indicators expected +0.4%

10:30 New York Fed President William Dudley

1:00 Treasury auctions $11 billion 10-year TIPS

 

Notable Earnings Before Open

AAP: Advance Auto Parts – EPS Est. $2.61, Rev Est. $3.02B

WMT: Wal-Mart – EPS Est. $.88, Rev Est. $113.14B

 

Notable Earnings After Close

AMAT: Applied Materials – EPS Est. $.32, Rev Est. $2.42B

ROST: Ross Stores – EPS Est. $.37, Rev Est. $3.11B

GPS: Gap Stores – EPS Est. $.32, Rev Est. $3.52B

ADSK: AutoDesk – EPS Est. $(.14), Rev Est. $513.03M

 

May 19th Swing Watch List

$DAR – Long entry is over 14.85, add spot at 15. Stop will be 14.50. Target is 15.50-15.70, on this slow mover.

$NSM – Long entry is over 12.50, stop 12.00. Room to 13.05 and then 13.50 near the 200 EMA.

$DPM– Short entry is under 32.50, stop 33.25. Room here is to 30 in a short time. I don’t normally trade oil names, but the chart is setup for a short under the 20EMA.

NO COMMENTS