Tuesday, September 27, 2016
Economic Calendar & Watch Lists
US Futures are slightly higher this morning while European stocks are under pressure and trading lower by -.50%. The price of crude slipped nearly -2%, dragging energy producers lower. Asian stocks closed mostly higher.
The SPY traded back lower throughout yesterday’s session while testing the short term ascending support zone. Support will lie at the low of yesterday’s range at $214.01 which also coincides with the short term ascending support. This is followed by $213.44, $213.38, $213.03, and the 100 day moving average at $212.77. Resistance will lie at the high of yesterday’s range at $215.23, followed by $215.88, the short term ascending resistance at $216.50, $216.88, and then the 50 day moving average at $216.90.
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**
9:00 July S&P CoreLogic composite-20 home prices expected unch
9:45 September Markit services PMI expected +0.2 to 51.2
10:00 September consumer confidence expected -2.4 to 98.7
10:00 September Richmond Fed manufacturing survey expected +9 to -2
Notable Earnings Before Open
Notable Earnings After Close
NKE: Nike – EPS Est. $.56 Rev Est. $8.85B
September 27th Swing Watch List
$VIAB – On bounce watch for a reversal after a multi day sell off to oversold conditions. Looking for a long over 35 or closer to 34. Markets will dictate the timing on this entry. Target is 37.00 resistance.
$EPAM – On short watch under 66.40. Target is 65 and then 63.75. This big support level will give way to lower targets if market stays week.