Tuesday April 18, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are pointing to a slightly lower open while European stocks also trade lower on weakness in energy producing stocks. The price of crude is trading lower by -.80% after data showed oil rigs at highest level in 1.5 years. Asian stocks closed mostly lower.
Technicals
The SPY edged back higher throughout yesterday’s session coming off the Easter holiday, closing out the day on the highs. Support will at the low of yesterday’s range at $232.88, followed by $232.51, $231.61, $230.62, and the 100SMA at $230.16. Resistance will lie at the high of yesterday’s range at $234.57, followed by the 20EMA at $234.98 and 50SMA at $235.15. Then, $234.96, $235.18, and then the recent pivot point at $236.30. Short term descending resistance falls at $237, followed by the remaining levels of resistance at $237.39, $237.97, $238.10, $239.20, $239.44, $239.57, and record highs at $240.32.
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
$NFLX
Economic Calendar
8:30 March housing starts expected -3.0% to 1.250M
9:00 Kansas City Fed President Esther George speaks
9:15 Mar industrial production expected +0.4%
Notable Earnings Before Open
Bank of America (BAC) – EPS Est. $0.35
Charles Schwab (SCHW) – EPS Est. $0.37
GNC Holdings (GNC) – EPS Est. $0.34
Goldman Sachs (GS) – EPS Est. $5.31
Grainger (GWW) – EPS Est. $2.99
Harley-Davidson (HOG) – EPS Est. $1.02
Johnson & Johnson (JNJ) – EPS Est. $1.77
UnitedHealth Group (UNH) – EPS Est. $2.17
Notable Earnings After Close
IBM (IBM) – EPS Est. $2.35
Interactive Brokers (IBKR) – EPS Est. $0.37
Intuitive Surgical (ISRG) – EPS Est. $4.95
