Wednesday June 22, 2016
Economic Calendar & Watch Lists 6/22/2016
Morning Notes
US Futures are relatively flat this morning while European stocks trade higher by +0.5% as markets await tomorrow’s vote for the Brexit outcome. Asian stocks closed mixed.
Technicals
The SPY traded on an inside day throughout yesterday’s session and closed back above the 50 day SMA. Support will lie at the low of yesterday’s range at $208.78, followed closely by $207.75, $207.20, and the critical support pivot at $207. Resistance will lie at the high of yesterday’s range at $208.92, followed by the macro resistance channel at $209, and then the high of Monday’s range at $209.61.
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**
$TSLA
$FDX
Economic Calendar
9:00 Apr FHFA house price index expected +0.6%
10:00 Fed Chair Janet Yellen testifies
10:00 May existing home sales expected +1.8% to 5.55M
10:30 EIA Weekly Petroleum Status Report
Notable Earnings Before Open
NONE
Notable Earnings After Close
BBBY: Bed Bath & Beyond – EPS Est. $.86, Rev Est. $2.78B
June 22nd Swing Watch List
$SLCA – Looking for a long on this one over 34.70, stop 34.00. If this level holds, target will be 36, and then 37.80.
$GNC – If support fails here, look out below. Short entry is under 24.49, stop 25.25. Target is 22.64.