Tuesday February 9, 2016
Economic Calendar & Watch List 2/9/2016
Morning Notes
US futures are slightly lower and European markets are trading lower by over -.5% after global economic concerns were intensified after German industrial production fell the most in 16 months. In addition, Greece debt concerns have returned as bailout talks started again after Greece and its creditors are in disagreement over bailout options.
Technicals
The SPY opened below the critical support of $187 in yesterday’s session and continued its move lower, approaching January lows. Support will lie at the low of yesterday’s range at $180.84, followed by $181.02, $180.83, and $180.04. Resistance will lie at the high of yesterday’s range at $186.12, followed by the former support of $187.06, $187.10, and $187.20.
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**
FB
Economic Calendar
10:00 Dec JOLTS job openings expected +19,000 to 5.450 million
10:00 Dec wholesale inventories expected -0.2% m/m, Nov -0.3% m/m
12:00 USDA Feb WASDE crop production
1:00 Treasury auctions $24 billion 3-year T-notes
Notable Earnings Before Open
KO: Coca Cola – EPS Est. $.37, Rev. Est. $9.91B
CVS: CVS Health – EPS Est. $1.53, Rev. Est. $41.3B
Notable Earnings After Close
DIS: Walt Disney – EPS Est. $1.45, Rev. Est. $14.75B
AKAM: Akamai – EPS Est. $.62, Rev. Est. $568.72M
February 9th Watch List
KELYA – This is a big sideways trender that has defined room in the range to the upside. Long entry here is over 16.75 and 17.00. First target is 17.50s and then 18.25 or so. Stop will be 16.50 initially.
OSUR – An earnings winner with a solid hold over the gap. Looking for the move back to 7. Long is over 6.50, stop 6.25.
HOG – We are going to keep on short watch for a breakdown and move back to the lows following post earnings weakness. Short entry on HOG is under 39, with an add at 38.50, stop will be 39.25. Target is going to be 36.36 range lows.
BLUE – On short watch for a move back to the range lows near 38.75. Short entry is definitely under 44.30, stop 44.50. First target is 41.75.
