Economic Calendar & Watch Lists 8/11/2016

2290

Thursday, August 11, 2016

 

Economic Calendar & Watch Lists

 

Morning Notes

US Futures are tracking modestly higher this morning while European markets are trading higher by roughly +.60%. Alibaba (BABA) reported better than expected Q1 earnings and is trading higher by over +4% in pre market. Asian stocks closed mixed across the board as Japan is closed for holiday.

 

Technicals

SPY811

The SPY pulled off its weekly highs and tested the upper support pivot in yesterday’s session. Support will lie at the upper support pivot at $217.30, followed closely by the low of yesterday’s range at $217.23, then $217.07, $216.78, $215.83, and $215.13. Resistance will lie at the high of yesterday’s range at $218.40, followed by the recent all time high of $218.76.

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**

$M

$BABA

$SHAK

 

Economic Calendar

8:30 Weekly initial unemployment claims expected -4,000 to 265,000

8:30 July import price index expected -0.4%

8:30 USDA weekly Export Sales

11:00 Treasury announces amount of 5-year TIPS to be auctioned August 18

1:00 Treasury auctions $15B of 30-year T-bonds

 

Notable Earnings Before Open

BABA: Alibaba – EPS Est. $.62, Rev Est. $4.61B

KSS: Kohl’s – EPS Est. $1.04, Rev Est. $4.16B

M: Macy’s – EPS Est. $.45, Rev Est. $5.75B

 

Notable Earnings After Close

NVDA: Nvidia – EPS Est. $.37, Rev Est. $1.35B

JWN: Nordstrom – EPS Est. $.55, Rev Est. $3.65B

 

August 11th Swing Watch List

– A nice consolidation in a flag. Looking for a breakout on low IV. This is a great opportunity for a bull call spread. Sep16 43/45 for a debit of .75.

NO COMMENTS