Tuesday October 11, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are tracking modestly lower this morning while European stocks trade slightly higher on positive economic data out of Germany, the Eurozone’s largest economy. Asian stocks closed mostly mixed while being weighed on by the plunge in Samsung after it had asked retailers to halt the sale on the Galaxy Note 7 after the recent explosions of the device.
Technicals
The SPY traded slightly higher throughout yesterday’s session but was held below the heavy resistance at $216.80. Support will lie at the low of yesterday’s range at $215.99, followed by the near term ascending support at $215.45, then $214.19, $213.99, and the 100 day moving average at $213.74. Resistance will lie at the high of yesterday’s range at $216.69 which also is where the 50 day moving average lies. Above the 50 day, heavy resistance lies at $216.80, then the upper resistance pivot at $217.30.
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
NONE
Notable Earnings Before Open
AA: Alcoa – EPS Est. $.34, Rev Est. $5.21B
OZRK: Bank of the Ozarks – EPS Est. $.59, Rev Est. $201.62M
FAST: Fastenal – EPS Est. $.45, Rev Est. $1.01B
Notable Earnings After Close
CUDA: Barracuda Networks – EPS Est. $.13, Rev Est. $85.24M
