Thursday June 9, 2016
Economic Calendar & Watch Lists 6/9/2016
Morning Notes
US Futures are lower this morning along with European markets trading lower by nearly -1% after commodity prices are sliding lower. Oil closed at an 11 month high while the Dow closed over 18,000. Asian stocks closed lower after the Nikkei dropped -1%.
Technicals
The SPY continued to move higher in yesterday’s session and closing out just off the intra day highs. This morning, the SPY is gapping lower and support will lie at the low of yesterday’s range at $211.69, followed by $211.50, $210.51, and the former macro descending resistance zone at $209 – 209.50. Resistance will lie at the high of yesterday’s range at $212.52, followed by $212.74.
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**
$RH
Economic Calendar
8:30 Initial Jobless Claims Est. 270K
8:30 USDA weekly Export Sales
10:00 Apr wholesale inventories expected +0.1% m/m
1:00 Treasury auctions $12 billion of 30-year T-bonds
Notable Earnings Before Open
SJM: JM Smucker – EPS Est. $1.19, Rev. Est. $1.74B
FRAN: Francesca’s – EPS Est. $.17, Rev. Est. $107.03M
Notable Earnings After Close
HRB: H&R Block – EPS Est. $3.09, Rev. Est. $2.29B
