Tuesday May 9, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are moderately higher this morning as the SPY approaches all time highs. European stocks edged higher and were bolstered by a rebound in commodities and financials. The market’s fear indicator is approaching a 25 year low as investors’ worries have been quelled after recent economic data results which shows strength in the job market. Asian stocks closed mostly higher led by the Hong Kong’s Heng Seng posting a +1.27% move.
Technicals
The SPY attempted to hold its recent higher price levels after breaking out of the last two weeks worth of consolidation on Monday. Support will lie at the low of yesterday’s range at $239.17, followed by $238.68, gap entry at $237.81, gap fill at $237.41, the 20EMA at $237.38, then the beginning of a secondary gap at $236.61, followed by the 50SMA at $236.48 and finally the recent pivot point at $236.30. Resistance will lie at the high of yesterday’s range at $239.92, followed 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**
Economic Calendar
9:00 Minneapolis Fed President Neel Kashkari speaks
10:00 March JOLTS job openings Est. 5.65M
10:00 March wholesale trade sales, March wholesale inventories
1:00 Boston Fed President Eric Rosengren speaks
Notable Earnings Before Open
Allergan PLC (AGN) – EPS Est. $3.32
Discovery (DISCA) – EPS Est. $0.49
Endo Intl (ENDP) – EPS Est. $1.12
Office Depot (ODP) – EPS Est. $0.12
Silver Wheaton (SLW) – EPS Est. $0.15
Valeant Pharma (VRX) – EPS Est. $0.96
Wayfair (W) – EPS Est. $-0.81
Notable Earnings After Close
Acia (ACIA) – EPS Est. $0.52
Acadia Pharma (ACAD) – EPS Est. $-0.73
Depomed Inc (DEPO) – EPS Est. $-0.25
Disney (DIS) – EPS Est. $1.45
Electronic Arts (EA) – EPS Est. $0.61
Fossil Group (FOSL) – EPS Est. $-0.21
Jazz Pharmaceuticals (JAZZ) – EPS Est. $1.34
Nvidia (NVDA) – EPS Est. $0.66
Priceline (PCLN) – EPS Est. $8.80
Sage Therapeutics (SAGE) – EPS Est. $-1.56
Tesaro (TSRO) – EPS Est. $-2.26
Tripadvisor (TRIP) – EPS Est. $0.17
Vivint Solar (VSLR) – EPS Est. $-0.48
Yelp (YELP) – EPS Est. $-0.08