Friday June 24, 2016
Economic Calendar & Watch Lists 6/24/2016
Morning Notes
US Futures are sharply lower this morning by over -4% while European stocks fell over -9% after the Brexit vote decided that UK would leave the European Union. Asian stocks also closed sharply lower, led by the Nikkei down over -7%.
Technicals
The SPY tumbled lower overnight on the Brexit decision and is currently trading just off its 200 day moving average. Support will lie at the 200 day moving average at $$200.09, followed by $201.74, $201.55, $201.05, and the lower support pivot of $200.05. Resistance will lie at $204.54, $204.86, $204.99, and the mid range resistance pivot at $205.25.
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**
$SPY
$FB
$NFLX
Economic Calendar
8:30 May durable goods orders expected -0.5% and +0.1% ex trans
10:00 Final-June University of Michigan U.S. consumer sentiment index expected -0.2 to 94.1
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
June 24th Swing Watch List
$KMPR – Long entry over 33.15-33.20, stop 32.50. Target is 34, then 35. This is a lighter volume name, so size accordingly.
$KEYW – Long entry over 10.00, stop 9.70. Target is 11.00.
$HEES – Long entry over 20.51, stop 19.80. Target is 21.50.
$PRTY – Long entry over 13.53, stop 13.15. Target is 14.10.
$SGMS – Long entry over 10.15, stop 9.75. Target is 10.75, then 11.50.
$MMP – On short watch for a possible reversal. Looking for return toward 72. Will short some near 78, or under 77.
$SPY – Looking to start a bear put spread on the SPY as it tests these highs yet again. Looking for a Jul16 210/208 put spread for a quick 30% on a market pull back.