Friday February 12, 2016
Economic Calendar & Watch List 2/12/2016
Morning Notes
US futures are higher this morning by over +1% and European markets are trading higher by nearly +2% after energy producers and bank stocks lead the market higher. Strength in the financial sector is being led by JP Morgan (JPM) trading higher in the pre market after the CEO purchased $25M worth of the company’s stock. Asian stocks closed mostly lower.
Technicals
The SPY traded lower in yesterday’s session and ended the day mid range. Support will lie at the low of yesterday at $181.09, followed by $181.02 and $180.83. Resistance will lie at the high of yesterday at $184.10, followed by $185.12, $187, and $188.34.
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**
JPM
CYBR
WYNN
Economic Calendar
8:30 Jan retail sales expected +0.1% m/m and unch m/m ex autos
8:30 Jan import price index expected -1.5% m/m and -6.8% y/y
10:00 New York Fed President William Dudley holds a press briefing
10:00 Dec business inventories expected +0.1%, Nov -0.2%
10:00 University of Michigan prelim-Feb U.S. consumer sentiment index expected +0.3 to 92.3
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
February 12th Watch List
MYRG – On swing watch for a long breakout toward the double tops at 21.20+, next stop 22.50. Long entry is going to be over 20.26, stop 20.00. I like the bullish candle over candle and close over the 20 and 50 EMA.
BOOT – Looking for a return back to 9 and then 10+ after holding strong at the 20 EMA. Long entry will be over 8.50, stop 8.15. Look to add over 8.78. Nice bullish chart in a weak market.
NEWR – A great looking post earnings parabolic move down, means a great parabolic opportunity to move back up. Long entry would be over 23.87-24, stop 23.25. Target will be 27, with profit to be taken along the way.
BEAV -On short watch for a move back toward range lows near 36.40. Short entry will be staggered in two parts. Short 1 will be under 39.45, short 2 is under 38.80, stop will be 40 and then 40.25, respectively.
HCA – On short watch for the move back toward long term support at 62.75. After that, room down to 60. Short entry is under 63.50, stop 64.25.
