Thursday, July 21, 2016
Economic Calendar & Watch Lists 7/21/2016
Morning Notes
US Futures are flat this morning while European stocks are trading slightly lower ahead of the ECB meeting where traders will look for clues in ECB president Draghi’s speech regarding stimulus measures. Asian stocks closed mostly mixed.
Technicals
The SPY pushed to more new highs throughout yesterday’s session on yet another very light volume session. Support will lie at the low of yesterday’s range at $216.24, followed by $215.63, $215.31, and $214.35. Resistance will lie only at yesterday’s high at $217.37.
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**
$QCOM
$INTC
Economic Calendar
8:30 Weekly initial unemployment claims expected +11,000 to 265,000
8:30 Jul Philadelphia Fed business outlook survey expected +0.1 to 4.8
8:30 Jun Chicago Fed national activity index expected +0.31 to -0.20
8:30 USDA weekly Export Sales
9:00 May FHFA house price index expected +0.4% m/m
10:00 Jun existing home sales expected -0.9% to 5.48M
10:00 Jun leading indicators expected +0.2%
1:00 Treasury auctions 10-year TIPS
Notable Earnings Before Open
ADPT: Adeptus Health – EPS Est. $.48, Rev Est. $93.92M
ALK: Alaska Air – EPS Est. $2.08, Rev Est. $1.5B
BIIB: Biogen – EPS Est. $4.69, Rev Est. $2.8B
DISH: Dish Network – EPS Est. $.74, Rev Est. $3.86B
DPZ: Domino’s Pizza – EPS Est. $.93, Rev Est. $533.44M
DNKN: Dunkin Brands – EPS Est. $.56, Rev Est. $219.81M
GM: General Motors – EPS Est. $1.48, Rev Est. $38.59B
JCI: Johnson Controls – EPS Est. $1.03, Rev Est. $9.62B
Notable Earnings After Close
T: AT&T – EPS Est. $.72, Rev Est. $40.66B
AMD: Advanced Micro Devices – EPS Est. $(0.08), Rev Est. $NA
CMG: Chipotle Mexican Grill – EPS Est. $1.05, Rev Est. $1.05B
ETFC: E*Trade – EPS Est. $.39, Rev Est. $471.65M
HA: Hawaiian Holdings – EPS Est. $1.14, Rev Est. $591.59M
P: Pandora – EPS Est. $(0.16), Rev Est. $351.58M
PYPL: Paypal – EPS Est. $.36, Rev Est. $2.6B
SLB: Schlumberger – EPS Est. $.22, Rev Est. $7.10B
SKX: Skechers – EPS Est. $.51, Rev Est. $888.89M
SWKS: Skyworks Solutions – EPS Est. $1.21, Rev Est. $750.22M
SBUX: Starbucks – EPS Est. $.49, Rev Est. $5.34B
V: Visa – EPS Est. $.67, Rev Est. $3.67B
July 21st Swing Watch List
$FRO – Long entry is over 8.21, stop 7.90. Target is 8.55 and then 9.00.
$ESPR – Long entry is over 11.58, stop 11.00. Room here into the gap. First stop 13.20 and then 14. Nice setup if biotechs keep grinding.
$AEM – Short entry under 52, stop 53. Target is 50. Gold starting to pull back.
