Economic Calendar & Watch Lists 8/30/2016


Tuesday, August 30, 2016


Economic Calendar & Watch Lists


Morning Notes

US Futures are unchanged this morning while European markets are trading nearly +1% higher led by strength in banking stocks. US stocks are being weighed down after AAPL received a judgement to pay $14.5B in back taxes due to Ireland illegally reducing AAPL’s tax bills. Asian stocks closed mostly higher.




The SPY traded higher throughout yesterday’s session as it held the upper support pivot at $217.30. Support will lie at the low of yesterday’s range at $217.40, followed by the upper support pivot at $217.30, then $216.25, $215.83, and former ascending support at $215.20. Resistance will lie at the high of yesterday’s range ar $218.66, followed by $219.12 and 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**





Economic Calendar

9:00 June S&P CoreLogic composite-20 home price index expected -0.1% m/m

10:00 August consumer confidence (Conference Board) expected -0.3 to 97.0


Notable Earnings Before Open

ANF: Abercrombie & Fitch – EPS Est. $(0.19), Rev Est. $785.62M


Notable Earnings After Close

PANW: Palo Alto Networks – EPS Est. $.49, Rev Est. $389.54M

VEEV: Veeva Systems – EPS Est. $.08, Rev Est. $126.67M


August 30th Swing Watch List

$CVRR – Not normally an oil trader, but this one is a decent setup with a lot of room over $7. Looking for a long over 6.85-6.89, stop 6.59. Target will be 7.50, then 8.

$TMST – Long entry over 10.45-10.50, stop 10.00 Target is 11, 11.50. Not a bad look if it can clear 10.50.

$PMTS – Looking for a gap fill trade here. This would be a quicker in and out setup, possibly even a day trade. Long entry is over 5.40, stop 5.15. Target here is potentially 7.30 or so.

$BMY – On short watch for Tuesday. This is a low IV setup, which means a bear put spread could pay quickly. The catch? We need 58 to fall and the market to be weak. This will be  a trade for a red SPY day, otherwise, we will focus on the long stuff.