Economic Calendar & Watch Lists 11/2/2016

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Wednesday November 2, 2016

Economic Calendar & Watch Lists

 

Morning Notes

US Futures are slightly lower this morning while European markets trade lower by nearly -1% as crude drifts lower by -1.7% as stockpiles increased over the last week. Asian stocks closed predominantly lower.

 

Technicals

spy112

The SPY traded sharply lower throughout yesterday’s session breaking down through key support pivots. Support will lie at the low of yesterday’s range at $209.60, followed by the 200 day moving average at $207.97. Resistance will lie at the recent support pivot at $212.50, followed by the high of yesterday’s range at $212.99, then $213.19, $213.93, and the 100 day moving average at $214.37.

 

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**

$BABA

$AGN

 

Economic Calendar

8:15 ADP Employment Change Est. 165K

10:30 Crude Inventories

2:00 FOMC Rate Decision

 

Notable Earnings Before Open

BABA: Alibaba – EPS Est. $.70, Rev Est. $5.13B

AGN: Allergan – EPS Est. $3.57, Rev Est. $3.74B

ANTM: Anthem – EPS Est. $2.49, Rev Est. $20.74B

YELP: Yelp! – EPS Est. $(.03), Rev Est. $182.83M

 

Notable Earnings After Close

AIG: American International Group – EPS Est. $1.21, Rev Est. $11.74B

FSLR: First Solar – EPS Est. $.77, Rev Est. $966.66M

FIT: Fit Bit – EPS Est. $.19, Rev Est. $503.5M

GNK: Genco Shipping – EPS Est. $(5.22), Rev Est. $35.5M

GDDY: Go Daddy – EPS Est. $.03, Rev Est. $469.97M

QCOM: Qualcomm – EPS Est. $1.12, Rev Est. $5.82B

EYES: Second Sight Medical – EPS Est. $(.16), Rev Est. $2.36M

TTWO: Take Two Interactive – EPS Est. $.31, Rev Est. $403.35M

X: US Steel – EPS Est. $.73, Rev Est. $NA

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Mike Herman Mike graduated from the Florida State University with a Real Estate and Bachelor of Finance degree and focused particularly in the field of Behavioral Finance. During his time at the Florida State University, Mike began to trade equities and quickly realized the opportunities that existed in the markets. Through trading, Mike had facilitated relationships with a few very experienced individuals who had an expertise in the private equity field. More specifically, the private funding of small cap start-up companies. After several years of successful deals as a venture capitalist, Mike made the decision to return to work as an independent trader. Throughout the past 7 years of working as an independent trader, Mike has refined his strategy to focus on news driven momentum while factoring in market sentiment and psychology with an emphasis on proper risk management. Mike possesses a unique ability to rapidly decipher critical market moving news and take appropriate action. You can contact Mike at mike@warriortradingnews.com Legal Disclaimer – This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

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