Economic Calendar & Watch List 8/31/2016

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Wednesday, August 31, 2016

 

Economic Calendar & Watch Lists

 

Morning Notes

US Futures are pointing slightly lower this morning as equities are being weighed on as the price of crude touches 2 week lows. European markets are trading higher by roughly +.50% after German retail sales came in the strongest in 2 years which is the Eurozone’s largest economy. Asian stocks closed mostly mixed.

 

Technicals

SPY831

The SPY held the upper range support pivot again in yesterday’s session, closing slightly in the negative for the day. Support will lie at the low of yesterday’s range at $217.35, followed closely by the upper range support pivot at $217.30, then $216.25, $215.83, and former ascending resistance at $215.30. Resistance will lie at the high of yesterday’s range at $218.59, followed by $218.66, $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**

$VEEV

$PANW

 

Economic Calendar

8:15 August ADP employment change expected +175K

9:45 August Chicago PMI expected -1.8 to 54

10:00 July pending home sales expected +0.7% m/m

10:30 EIA Weekly Petroleum Status Report

 

Notable Earnings Before Open

BOBE: Bob Evans – EPS Est. $.45, Rev Est. $313.10M

 

Notable Earnings After Close

BOX: Box – EPS Est. $(0.19), Rev Est. $94.59M

CTRP: Ctrip.com – EPS Est. $(0.21), Rev Est. $663.50M

CRM: Salesforce – EPS Est. $.22, Rev Est. $2.02B

 

August 31st Swing Watch List

$GNCA – Long entry over 5.45-5.50, stop 5.20. Target is 6.00, short term.

$TK – Long entry over 7.40-7.50, stop 7.20. Traget is 8, and then 9.00.

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