Tuesday June 28, 2016
Economic Calendar & Watch Lists 6/28/2016
Morning Notes
US Futures are moving modestly higher early after being under pressure during the last two sessions while European markets surge by over +2.5% as global banks agree to help mitigate any fallout from last week’s Brexit decision. Asian stocks closed mostly higher.
Technicals
The SPY sold off on elevated volume in yesterday’s session on follow through from Friday’s sharp move lower. The SPY is currently gapping higher in the premarket and support will lie at the critical support pivot at $200.05, followed by the low of yesterday’s range at $198.65, then $197.38, $197.25, and $194.45. Resistance will lie at the high of yesterday’s range at $201.60, the 200 day moving average at $202.15, and the low of Friday at $202.72.
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**
$CCL
Economic Calendar
8:30 GDP Annualized Est. 1.0%
8:30 Personal Consumption Est. 2.0%
8:30 May PCE deflator expected +0.2% m/m and +1.0% y/y
9:00 S&P Case Shiller April Est. 0.58%
10:00 Consumer Confidence June Est. 3
10:30 EIA Weekly Petroleum Status Report
Notable Earnings Before Open
CCL: Carnival Cruise Lines – EPS Est. $.39, Rev Est. $3.68B
Notable Earnings After Close
NKE: Nike – EPS Est. $.48, Rev Est. $8.28B
