Economic Calendar & Watch Lists 7/7/2016

1771

Thursday July 7, 2016

 

Economic Calendar & Watch Lists 7/7/2016

 

Morning Notes

US Futures are relatively flat this morning as European stocks made a rebound off weekly lows as the price of crude jumps on API data released yesterday. Asian stocks closed mixed across the board.

 

Technicals

SPY77

The SPY held the critical pivot at $207 and pushed higher in yesterday’s session and closed back above the macro descending resistance near $209. Support will lie at the $209 level followed by the 50 day moving average at $207.71, followed by yesterday’s low at $207.06, and the upper support pivot at $207.  Resistance will lie at the high of yesterday’s range at $209.80, followed by $210.49, 210.87, and $211.19.

 

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**

$FSLR

$NFLX

 

Economic Calendar

8:15  June ADP Employment Report Est. 160K

8:30 Weekly Jobless Claims Est. 267K

8:30 Continuing Claims Est. 2.12M

9:45 Bloomberg Consumer Comfort Index

10:30 Weekly EIA Natural Gas Inventory Data

11:00 Weekly DOE Inventory Data

 

Notable Earnings Before Open

PEP: Pepsi – EPS Est. $1.28, Rev Est. $15.38B

 

Notable Earnings After Close

APOL: Apollo Education – EPS Est. $.28, Rev Est. $546.97M

CUDA: Barracuda Networks – EPS Est. $.11, Rev Est. $83.48M

 

July 7th Swing Watch List

$DRNA – Long entry is over 3.67, stop 3.32. Target is 4.00 and then 4.50 area.

$ERF – Long entry over 6.51, stop 6.20. Target is 7.00 and then 7.70, if oil picks up steam.

$LLY – Still on short watch for a reversal. Looking for an entry below 79.10, stop 80.40. target is now 76.

$TSO – If oil moves lower from here, this will be on short watch under 70.00, add spot 69.50. Target is 67.

NO COMMENTS