Thursday June 16, 2016
Economic Calendar & Watch Lists 6/16/2016
Morning Notes
US Futures are lower this morning while European markets trade lower by over -0.05% approaching 4 month lows as further concerns are raised out the global economic outlook by the central banks. Yesterday, the FOMC decided to leave rates unchanged with the possibility of 1 rate hike in 2016. The Bank of Japan (BOJ) decided against expanding stimulus measures not wanting to shake up markets as the Brexit decision nears which sent the Nikkei lower by over -3%, or -485 points.
Technicals
The SPY traded lower in yesterday’s session after the release of the FOMC meeting results. This morning the SPY is tracking lower and support will lie at the low of Tuesday’s range at $206.92, followed by $206.14 and $205.99. Resistance will lie at the critical pivot of $207, followed by low of yesterday at $207.53, and then the high of yesterday’s range at $209.36.
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**
Economic Calendar
8:30 Weekly Jobless Claims Est. 270K
8:30 Continuing Claims Est. 2.14M
8:30 Consumer Price Index (CPI) MoM for May Est. 0.3%
10:00 NAHB Housing Market Index for Jun Est. 59
10:30 Weekly EIA Natural Gas Inventory Data
Notable Earnings Before Open
KR: Kroger – EPS Est. $.69, Rev Est. $34.88B
RAD: Rite Aid – EPS Est. $.05, Rev Est. $8.26B
Notable Earnings After Close
ORCL: Oracle – EPS Est. $.83, Rev Est. $10.46B
June 16th Swing Watch List
$ASM – Long entry over 2.38, stop 2.24. Target is 2.55 and then 2.75.
$SYNC – Long entry over 3.33, stop 3.07. Add spot over 3.50. Target is 3.75 area short term, then just shy of 4.
$PRGO– On short watch for a move lower after takeover rumors subside. Looking for a short under 97.70, stop 99.00. Target is 95 and then 93.
