Wednesday July 26, 2017
Economic Calendar & Watch List
Morning Notes
US Futures are tracking slightly higher this morning on carryover from a European rally. Stocks are higher on upbeat Q2 earnings data as well as continued global optimism. The price of Crude is trading higher by +.70%. Markets will await the FOMC rate decision at 2EST. Asian stocks settled predominantly higher.
Technicals
The SPY posted another record high close to end yesterday’s session after recent consolidation at higher price levels. Support will lie at the low of yesterday’s range at $247.16, followed by $246.98, former ascending resistance at $246.80, then $246.28, $246.18, gap entry at $246.01, gap fill at $245.72, then the 20 EMA at $244.77, continued with $244.67, $244.31 and $243.76. Further support lies at the gap entry at $243.30, the 50 SMA at $242.68, then gap fill at $242.55. Resistance will lie at the high of yesterday’s record high at $247.80.
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**
$AKAM
$IRBT
$X
Economic Calendar
10:00 June new home sales expected +0.8% to 615K
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC announces interest rate decision
2:00 Fed Funds Rate change
Notable Earnings Before Open
ALASKA AIR (ALK) – EPS Est. 2.50
ANGIES LIST (ANGI) – EPS Est. -0.06
ANTHEM (ANTM) – EPS Est. 3.25
BAXTER (BAX) – EPS Est. 0.57
BLOOMIN BRANDS (BLMN) – EPS Est. 0.28
BOEING (BA) – EPS Est. 2.32
COCA COLA (KO) – EPS Est. 0.57
CORNING (GLW) – EPS Est. 0.40
D R HORTON (DHI) – EPS Est. 0.75
FORD MOTOR (F) – EPS Est. 0.44
GENERAL DYNAMICS (GD) – EPS Est. 2.43
HERSHEY (HSY) – EPS Est. 0.91
HESS (HES) – EPS Est. -1.32
NASDAQ (NDAQ) – EPS Est. 0.96
NORFOLK SOUTHERN (NSC) – EPS Est. 1.64
NORTHROP GRUMMIN (NOC) – EPS Est. 2.84
OWENS CORNING (OC) – EPS Est. 1.06
Notable Earnings After Close
BUFFALO WILD WINGS (BWLD) – EPS Est. 1.01
FACEBOOK (FB) – EPS Est. 1.13
GILEAD (GILD) – EPS Est. 2.11
LAM RESEARCH (LRCX) – EPS Est. 3.02
LAS VEGAS SANDS (LVS) – EPS Est. 0.61
O REILLY (ORLY) – EPS Est. 2.90
PAYPAL (PYPL) – EPS Est. 0.32
SERVICENOW (NOW) – EPS Est. -0.18
TRACTOR SUPPLY (TSCO) – EPS Est. 1.27
VERTEX (VRTX) – EPS Est. 0.06
WHIRLPOOL (WHR) – EPS Est. 3.56
WHITING (WLL) – EPS Est. -0.18
WHOLE FOODS (WFM) – EPS Est. 0.34
XILINX (XLNX) – EPS Est. 0.60