Economic Calendar & Watch Lists 7/8/2016

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Friday July 8, 2016

 

Economic Calendar & Watch Lists 7/8/2016

 

Morning Notes

US Futures are slightly higher this morning as European stocks surge higher again by over +1% as the market awaits the June payroll numbers. Asian stocks closed mostly lower.

 

Technicals

SPY78

The SPY tested the macro descending resistance level at $209 and used it as a support point yet again in yesterday’s session. Support today will lie at the macro descending resistance level at $209, followed by the low of yesterday’s range at $208.63, the 50 day moving average at $207.72 and then the upper range support pivot at $207. Resistance will lie at the high of yesterday’s range at $210.65, followed by $210.87, $211.19, and $212.22.

 

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**

$JUNO

 

Economic Calendar

8:30 June non-farm payrolls expected +180,000

8:30 Jun avg hourly earnings expected +0.2% m/m

8:30 USDA weekly Export Sales

3:00 May consumer credit expected +$16B

 

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

NONE

 

July 8th Swing Watch List

$SWIR – Long entry over 17.20, stop 16.60. Target add spot of 17.50. Target is 18.30

$DXPE – Long entry over 16.40, stop 15.75. Target is into the gap and 17.20.

$NTLA – Super oversold and beaten down, looking for a quick bounce on this one. Long entry over 19.60, stop 18.65. Target is 21.00 and then 22.50.

$NSP – Short entry under 74.88, stop 75.88. Target is 72.35.

$POST – On short watch under 84, stop 85.40. Target is near 80. Will use a credit spread here due to high implied volatility. Look for a 30-5o% move.

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