Tuesday October 18, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are tracking modestly higher this morning while European stocks also trade sharply higher by over +1% as speculation that the US economy has strengthened enough to endure a gradual increase in interest rates. Asian stocks closed higher led by a rally in Chinese names.
Technicals
The SPY traded lower throughout yesterday’s session and closed back below the support pivot at $212.50. This morning, the SPY is gapping higher and support will lie at the high of yesterday’s range at $213.39, followed by the support pivot at $212.50, the low of yesterday’s range at $212.17, then $211.21 and $210.78. Resistance will lie at the 100 day moving average at $214.07, followed by $214.69, $215.74, $215.99, and the 50 day moving average at $216.34.
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**
$GS
$IBM
Economic Calendar
8:30 September CPI expected +0.3% m/m
10:00 October NAHB housing market index expected -2 to 63
Notable Earnings Before Open
DPZ: Domino’s Pizza – EPS Est. $.90, Rev Est. $543.03M
GS: Goldman Sachs – EPS Est. $3.86, Rev Est. $7.55B
GWW: Grainger – EPS Est. $3.02, Rev Est. $2.6B
HOG: Harley Davidson – EPS Est. $.63, Rev Est. $1.1B
JNJ: Johnson & Johnson – EPS Est. $1.65, Rev Est. $17.69B
KSU: Kansas City Southern – EPS Est. $1.20, Rev Est. $604.18M
UNH: United Healthcare – EPS Est. $2.08, Rev Est. $45.87B
Notable Earnings After Close
CREE: Cree – EPS Est. $.12, Rev Est. $324.15M
INTC: Intel – EPS Est. $.73, Rev Est. $15.55B
YHOO: Yahoo! – EPS Est. $.14, Rev Est. $860.88M
October 18th Swing Watch List
Earnings setups: YHOO, ISRG, CREE, HAL Will be looking to focus on iron condor setups through earnings, and managing open trades. Once we get some trenders coming out of earnings, we will jump on to those.
