Wednesday, July 27, 2016
Economic Calendar & Watch Lists 7/27/2016
Morning Notes
US Futures are slightly higher this morning while European stocks trade higher by over +1% after AAPL posted positive earnings and is moving sharply higher in the pre market session. Markets today await the results of the 2 day policy meeting of the FOMC which will be released at 2 PM EST. Asian stocks closed mostly higher, except for China.
Technicals
The SPY continues to sit in a period of consolidation near the highs on light relative volume. Support will lie at the low of yesterday’s range at $215.76, followed closely by 4215.63, $215.31, and $214.35. Resistance will lie at the high of yesterday’s range at $217.17, followed closely again by $217.30 and $217.37.
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**
$BA
$LOGM
$GRMN
$MBLY
Economic Calendar
8:30 Jun durable goods orders expected -1.1% and +0.3% ex-trans
10:00 Jun pending home sales expected +1.2% m/m and +3.0% y/y
10:30 EIA Weekly Petroleum Status Report
2:00 FOMC announces interest rate decision
Notable Earnings Before Open
ANGI: Angie’s List – EPS Est. $(.06), Rev Est. $86.21M
ANTM: Anthem – EPS Est. $3.24, Rev Est. $20.53B
BA: Boeing – EPS Est. $(.88), Rev Est. $23.7B
KO: Coca – Cola – EPS Est. $.58, Rev Est. $11.7B
GRMN: Garmin – EPS Est. $.67, Rev Est. $762.97M
GD: General Dynamics – EPS Est. $2.3, Rev Est. $7.88B
GT: Goodyear Tire – EPS Est. $1.04, Rev Est. $3.93B
HLT: Hilton – EPS Est. $.26, Rev Est. $3.06B
LVLT: Level 3 Communications – EPS Est. $.46, Rev Est. $2.08B
LL: Lumber Liquidators – EPS Est. $(.22), Rev Est. $240.56M
MDCO: Medicine Co – EPS Est. $(1.2), Rev Est. $41.93M
NOC: Northrop Grumman – EPS Est. $2.5, Rev Est. $5.98B
Notable Earnings After Close
CAKE: Cheesecake Factory – EPS Est. $.70, Rev Est. $562.96M
CBI: Chicago Bridge & Iron – EPS Est. $1.22, Rev Est. $2.82B
FB: Facebook – EPS Est. $.81, Rev Est. $6.02B
GPRO: GoPro – EPS Est. $(.58) Rev Est. $194.31M
GRPN: Groupon – EPS Est. $(.02), Rev Est. $710.97M
MAR: Marriott – EPS Est. $.98, Rev Est. $3.9B
MRVL: Marvell Technology – EPS Est. $.08, Rev Est. $612.08M
NXPI: NXP Semiconductors – EPS Est. $1.35, Rev Est. $2.35B
July 27th Swing Watch List
$TROX – Long entry is over 6.90, add spot 7.15. Stop is 6.29. Target is 7.75 and then 8.20.
$GSM – Long entry is over 9.20, stop 8.90. Target is 10, then 10.50 area.
$NAV – Long entry is over 13.30, stop 12.85. Target is 14.30 and then 16.
$MCD – On short watch for a put spread to capture the move to support. Sep16 120/115 for a debit of around .75 or so, will wait for price to increase to confirm direction.
$ZOES – On short watch for a move below 35 support. Looking to start a short on this under 35.50, add 35.00. Stop will be 36. Target is 32.
