Monday October 17, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are tracking modestly lower this morning while European stocks also trade lower by nearly -.50% as the uncertainty in timing for an interest rate hike remains in recent comments from Fed Chair Janet Yellen. Asian markets closed mostly mixed.
Technicals
The SPY tested its 100 day moving average, rejected and traded lower throughout Friday’s session. Support will lie at the low of Friday’s range at $213.03, followed by the support pivot at $212.50, then $211.21 and $210.78. Resistance will lie at 100 day moving average at $214.04, followed by the high of Friday’s range $214.69, then $215.74, $215.99, and the 50 day moving average at $216.45.
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**
$HAS
Economic Calendar
8:30 October Empire manufacturing survey general business conditions expected +2.99 to 1
9:15 September industrial production expected +0.2%
Notable Earnings Before Open
BAC: Bank of America – EPS Est. $.34, Rev Est. $20.73B
SCHW: Charles Schwab – EPS Est. $.33, Rev Est. $1.87B
HAS: Hasbro – EPS Est. $1.74, Rev Est. $1.58B
Notable Earnings After Close
NFLX: NetFlix – EPS Est. $.06, Rev Est. $2.28B
October 17th Watch List
$AVP – On swing watch for a move to 7.00 short term. Big resistance at 6.33 or so. Long entry is 6.35, stop 6. 09. Target is 6.70 and then 7.00. Nice liquid name to get some size on.
$AVGR – On swing watch for a breakout over 5. Looking for entry over 4.98-5.00, add spot 5.15. Target is 5.50-5.75, then 6.
$NVDA – Still on watch here as we need confirmation of a move higher.
$OCN – Still on watch as well, looking for a breakout over the 200 ema. Entry remains the same.
$EVH – Short opportunity if healthcare keeps selling with the SPY. Short entry is under 23.65, stop 24.25. Target is 22.00.