Tuesday June 14, 2016
Economic Calendar & Watch Lists 6/14/2016
US Futures are lower this morning as European stocks trade lower again by over -1% due to Brexit and UK’s unknown position on its future with the European union. Asian stocks closed lower led by the Nikkei dropping to 2 month lows. The FOMC will begin its 2 day policy meeting this morning.
The SPY sold back below the former macro resistance on increased volume in yesterday’s session and exhibiting carryover this morning. Support will lie at $207.87, the 50 day moving average at $207.69, and the critical support pivot at $207. Resistance will lie at the low of yesterday’s range at $208.35, followed by the macro resistance at $209 – $209.30, and then the high of yesterday at $210.37.
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**
8:30 May retail sales expected +0.3% and +0.4% ex autos
8:30 May import price index expected +0.7% m/m and -5.9% y/y
9:30 FOMC begins 2-day policy meeting
10:00 Apr business inventories expected +0.2%
Notable Earnings Before Open
Notable Earnings After Close
June 14th Swing Watch List
$HBM – Long entry is over 5.20, stop 5.00. Target will be 6.00, then 6.25.
$MO – On swing watch for a pull back entry and a low IV debit spread. Nice STRONG chart with clean EMA pullbacks offering good entry. Will look to put on a Jul16 62.5/67.5 call spread for around 2.50 or better.
$VOD – Gap fill candidate with super high IV. Looking for a safe bull put spread here as long as support holds. Small risk, small reward. Jul16 28/30 bull put spread.
$FOSL – After a few days of selling and pressure in the market, look for this breakdown to new lows if the 26.42 area falls. Will look to enter there, and target the 25.00 area.