Monday April 4, 2016
Economic Calendar & Watch Lists 4/4/2016
Morning Notes
US futures are modestly higher this morning and European markets are trading higher by over +1% on follow through from Friday’s data showing the US economy strengthening. Asian stocks closed mixed.
Technicals
The SPY surged higher on Friday closing out the day just off the highs. Support will lie at the low of Friday’s range at $203.98, followed by $202.40 and $201.74. Resistance will lie at the high of Friday’s range at $207.14, followed by $207.21, $207.70, and $208.48.
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**
$SWHC
Economic Calendar
9:45 Mar New York ISM expected +0.5 to 54.1
10:00 Feb factory orders expected -1.8% and -0.5% ex-transportation
11:00 USDA weekly grain export inspections
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
April 4th Swing Watch List
$ACTG – Putting in a big wedge with the 20/50 EMAs about to cross into bullish territory. Long entry is over 4.06, stop 4.80. Room here is 4.25, 4.50 and then 5.00.
$LXRX – A big flagging biotech with lots of upside and great volume. Looking for a breakout over resistance at 12.50. Long will be over 12.60, stop 12.20. Room here is to 13.50-14.00.
$RYAM – An interesting setup for this over 10.00. Looking for a quick move to 10.75 and then 11.20s. Long entry is over 10 with a starter, add spot over 10.21. Stop will be .50c away from avg price here.
$FOSL – On short watch for a breakdown under the 50 EMA here and a return to the high of the gap. Short entry is under 42.00, stop 42.75. First target is 39.25.
