Thursday, September 15, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are tracking slightly higher this morning while European markets trade higher ahead of a busy economic data day for the US markets which will give further insight to the overall condition of the economy. The price of crude jumped over +1%, giving energy producing stocks a lift. Asian stocks closed mostly mixed.
Technicals
The SPY tested Tuesday’s low in yesterday’s session and held, creating a double bottom formation. Support will lie at the double bottom at $212.50, followed by $212.31 and the 100 day moving average at $212.18. Resistance will lie at the high of yesterday’s range at $214.70, followed by $215.15, the 50 day moving average at $216.67, $216.81, and $217.03.
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**
$AERI
$AAPL
Economic Calendar
8:30 Weekly initial unemployment claims expected +6,000 to 265,000
8:30 Q2 current account balance expected -$120.8B
8:30 August retail sales expected -0.1% m/m
8:30 September Philadelphia Fed business outlook survey expected -1.0 to 1.0
8:30 September Empire manufacturing survey general business conditions expected +3.2 to -1
8:30 August PPI final demand expected +0.1% m/m
8:30 USDA weekly Export Sales
9:15 August industrial production expected -0.2%
10:00 July business inventories expected +0.1%
11:00 Treasury announces amount of 10-year TIPS to be auctioned September 22
Notable Earnings Before Open
NONE
Notable Earnings After Close
ORCL: Oracle – EPS Est. $.57, Rev Est. $8.73B
