Economic Calendar & Watch List 5/24/2016

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Tuesday May 24, 2016

 

Economic Calendar & Watch Lists 5/24/2016

 

Morning Notes

US Futures are modestly higher this morning while European stocks trade sharply higher by over +1.3% after German investment numbers came in at the highest in over 2 years. Asian stocks closed mostly lower.

 

Technicals

SPY524

The SPY traded a very range bound, low volume session yesterday and closed back below the support pivot at $205.25. Support will lie at the high of yesterday’s range at $205.84, followed by the critical support pivot at $205.35, and then the low of yesterday’s range at $204.99. Resistance will lie at the 50 day SMA at $205.99, followed by $206.10, $206.30, and $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**

$NFLX

$BBY

$FB

 

Economic Calendar

10:00 Apr new home sales expected +2.2% to 522,000

10:00 May Richmond Fed manufacturing index expected -6 to 8

1:00 Treasury auctions $26 billion of 2-year T-notes

 

Notable Earnings Before Open

AZO: AutoZone – EPS Est. $10.96, Rev Est. $2.65B

BBY: Best  Buy – EPS Est. $.35, Rev Est. $8.29B

 

Notable Earnings After Close

INTU: Intuit – EPS Est. $3.20, Rev Est. $2.25B

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