Thursday June 30, 2016
Economic Calendar & Watch Lists 6/30/2016
Morning Notes
US Futures are modestly higher this morning while Europe is trading mostly higher and Asian stocks closed mixed. Financials are in the spotlight today after the 30 of 33 banks passed the Fed’s “stress tests.” Further, many of the major banks announced stock buyback plans following the overnight results of the stress tests.
Technicals
The SPY continued its rebound in yesterday’s session closing out just off the intra day highs. The SPY is gapping higher in the pre market and resistance will lie at the 50 day moving average at $207.69, followed by the macro descending resistance at $209, and then the Thursday low prior to Brexit at $209.27. Support will lie at the upper support pivot at $207, followed by yesterday’s high at $206.93, the mid range support pivot at $205.25, and yesterday’s low at $204.72.
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**
$BUD
$TWLO
$MBLY
Economic Calendar
8:30 Initial Jobless Claims Est. 265K
9:45 Chicago PMI Est. 50.8
1:30 Fed’s Bullard Speaks
Notable Earnings Before Open
CAG: ConAgra – EPS Est. $.52, Rev Est. $2.89B
STZ: Constellation Brands – EPS Est. $1.51, Rev Est. $N/A
DRI: Darden Restaurants – EPS Est. $1.08, Rev Est. $1.82B
Notable Earnings After Close
NONE
June 30th Swing Watch List
$EDGE – Long over 10.03, stop 9.50. Target is 11, but will look for profits around 10.55. Low volume mover.
$ABUS – Long entry is over 3.61, stop 3.36. Target is 3.90-4.00.
$BOOT – Long entry is over 8.67, stop 8.25. Target is 9.30 then 10.15.
$SPY – On short watch for a failure at the EMAs here and a move back toward 200. Will use an options spread.
