Wednesday January 18, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are pointing to a slightly higher open ahead of Industrial production and consumer price numbers. European stocks are trading slightly lower as the Thursday ECB meeting approaches where traders will look for clues on whether or not the stimulus will begin to taper. The price of crude is lower this morning by just over -1.5% putting energy producing stocks under pressure. Asian stocks closed mostly mixed.
Technicals
The SPY traded lower into yesterday afternoon closing out just slightly negative while maintaining a very well defined downtrend in volume over the last 2 months. Support will lie at the low of yesterday’s range at $225.80, followed by the recent support pivot at $224.89, then $223.88 and $222.73. Resistance will lie at the high of yesterday’s range at $226.78, followed by the short term descending resistance at $227.25, then $227.45, $227.75, $227.81, and all time highs at $228.34.
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**
$GIMO
$JAZZ
$GS
Economic Calendar
8:30 December CPI expected +0.3% m/m
9:00 Dallas Fed President Robert Kaplan speaks
9:15 December industrial production expected +0.6%
10:00 January NAHB housing market index expected -1 to 69
11:00 Minneapolis Fed President Neel Kashkari speaks
3:00 Fed Chair Janet Yellen speaks
Notable Earnings Before Open
ASML Holdings (ASML) – EPS Est. $1.04
Charles Schwab (SCHW) – EPS Est. $0.36
Citigroup (C) – EPS Est. $1.12
Goldman Sachs (GS) – EPS Est. $4.82
TD Ameritrade (AMTD) – EPS Est. $0.41
Notable Earnings After Close
Canadian Pacific Railway (CP) – consensus EPS $2.39
Kinder Morgan (KMI) – consensus EPS $0.19
Netflix, Inc. (NFLX) – consensus EPS $0.13
