Economic Calendar & Watch List 8/25/2016

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Thursday, August 25, 2016

 

Economic Calendar & Watch Lists

 

Morning Notes

US Futures are pointing to a slightly lower open this morning which is being led by a -6% move lower in HPQ after a disappointing earnings report. European stocks are also trading lower by nearly -1% as markets consolidate ahead of Fed Chair Janet Yellen’s speech tomorrow. Asian markets closed mostly lower.

 

Technicals

SPY825

The SPY turned lower in yesterday’s session but managed to hold and close back above the upper support pivot at $217.30. Support will lie at the low of yesterday’s range at $217.36, followed closely by the upper support pivot at $217.30, then $217.02, $216.78, $215.83, and $215.13. Resistance will lie at the high of yesterday’s range at $218.91, followed by all time highs at $219.60.

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**

$DLTR

$WDAY

 

Economic Calendar

8:30 Weekly initial unemployment claims expected +3,000 to 265,000

8:30 July durable goods orders expected +3.4% and +0.4% ex trans

8:30 USDA weekly Export Sales

9:45 August Markit services PMI expected +0.4 to 51.8

11:00 August Kansas City Fed manufacturing activity survey expected +4 to -2

1:00 Treasury auctions $28B 7-year T-notes

 

Notable Earnings Before Open

BURL: Burlington Stores – EPS Est. $.30, Rev Est. $1.24B

DG: Dollar General – EPS Est. $1.09, Rev Est. $5.49B

DLTR: Dollar Tree – EPS Est. $.73, Rev Est. $5.13B

SAFM: Sanderson Farms – EPS Est. $2.22, Rev Est. $764.65M

SHLD: Sears Holdings – EPS Est. $.00, Rev Est. $N/A

SIG: Signet Jewelers – EPS Est. $1.47, Rev Est. $1.45B

TIF: Tiffany & Co. – EPS Est. $.71, Rev Est. $932.91M

 

Notable Earnings After Close

ADSK: Autodesk – EPS Est. $(.13), Rev Est. $510.64M

BRCD: Brocade Communications – EPS Est. $.19, Rev Est. $575.38M

GME: GameStop – EPS Est. $.26, Rev Est. $1.74B

SPLK: Splunk – EPS Est. $.03, Rev Est. $200.56M

ULTA: Ulta Salon – EPS Est. $1.39, Rev Est. $1.06B

 

August 25th Swing Watch List

$SALT – After some good early success on shippers, I like this for a move back toward 3.50, and thensome. Long entry is over 3.31, stop 3.14. Target is 3.50 and then 4.

$HLTH – Long entry here is over 3.25-3.30, stop 3.10. Target is 3.65-4.00.

$ALKS – Short entry if IBB continues to fall will be under 44.00, stop 45. Target is 41.00.

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