Tuesday, July 26, 2016
Economic Calendar & Watch Lists 7/26/2016
Morning Notes
US Futures are relatively flat and unchanged this morning as the markets await the results of the 2 day FOMC policy meeting which they will release tomorrow at 2 PM EST. European stocks are trading slightly lower and Asian stocks closed mostly higher except Japan after the Japanese Finance Minister said stimulus measures would be left up to the BOJ which sent Japanese stocks lower by over -1.4%.
Technicals
The SPY initially traded lower early in yesterday’s session then later recouped close to half of the losses into the close on very light volume. Support will lie at the low of yesterday’s range at $215.97, followed closely by $215.75, $215.63, and $215.31. Resistance will lie at the high of yesterday’s range at $217.06, $217.30, and $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**
$NFLX
$TXN
$GILD
$LVS
Economic Calendar
9:00 May S&P/CaseShiller composite-20 home price index expected +0.2% m/m and +5.6% y/y
9:45 Jul Markit services PMI expected +0.6 to 52.0
10:00 Jul consumer confidence expected -2.5 to 95.5
10:00 Jul Richmond Fed manufacturing survey expected +3 to -4
10:00 Jun new home sales expected +1.6% to 560,000
10:30 FOMC begins 2 day policy meeting
Notable Earnings Before Open
MMM: 3M – EPS Est. $2.08, Rev Est. $7.71B
ALLY: Ally Financial – EPS Est. $.52, Rev Est. $1.33B
CAT: Caterpillar – EPS Est. $.96, Rev Est. $10.06B
CVLT: Commvault Systems – EPS Est. $(.05), Rev Est. $149.10M
DD: Dupont – EPS Est. $1.10, Rev Est. $7.01B
LLY: Ely Lilly & Co. – EPS Est. $.85, Rev Est. $5.14B
JBLU: JetBlue – EPS Est. $.49, Rev Est. $1.65B
MCD: McDonald’s – EPS Est. $1.38, Rev Est. $ 6.28B
MBLY: Mobileye – EPS Est. $.15, Rev Est. $77.64M
Notable Earnings After Close
AKAM: Akamai – EPS Est. $.64, Rev Est. $574.86M
AAPL: Apple – EPS Est. $1.39, Rev Est. $42.02B
BWLD: Buffalo Wild Wings – EPS Est. $1.26, Rev Est. $498.86M
JNPR: Juniper Networks – EPS Est. $.47, Rev Est. $1.19B
TWTR: Twitter – EPS Est. $.10, Rev Est. $606.77M
July 26th Swing Watch List
$WUBA – Long entry over 50.00. Target is next resistance at 52.00. Stop will be 49.00.
$SLCA – Short entry is under 33.50, add spot under 33.20-33.00. Room is down to 32.50 and then 31.30. Stop will be 34.75.
