Tuesday May 16, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are relatively flat this morning coming off a surge to new record highs yesterday. European stocks are trading just slightly lower after a mix of economic data and Asian stocks closed predominantly higher.
Technicals
The SPY posted new record highs throughout yesterday’s session and managed to hold the majority of the gains into the close. Support will lie at the low of yesterday’s range at $239.45, followed by $238.67, the 20EMA at $238.23, gap entry at $237.81, gap fill at $237.41, then the beginning of a secondary gap at $236.61, which also coincides with the 50SMA, and finally the recent pivot point at $236.30. Resistance will lie only at the high of yesterday’s range at $240.44.
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
8:30 April housing starts expected +3.7% to 1.26M
8:30 April building permits expected +0.2%
9:15 April industrial production expected +0.4%
Notable Earnings Before Open
Dicks (DKS) – EPS Est. 0.54
Home Depot (HD) – EPS Est. 1.61
Staples (SPLS) – EPS Est. 0.17
Stratasys (SSYS) – EPS Est. -0.0
Tjx Cos (TJX) – EPS Est. 0.79
Weibo (WB) – EPS Est. 0.16
Notable Earnings After Close
Jack in the Box (JACK) – EPS Est. 0.90
Urban Outfitters (URBN) – EPS Est. 0.16
