Wednesday, September 28, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are flat this morning while European stocks trade higher by +1% after Deutsche Bank CEO had negated any possibility of a capital raise or aid from the German government which sent shares of Deutsche higher for the first time in 4 sessions. Asian stocks closed mostly mixed.
Technicals
The SPY held the short term ascending support and moved higher in yesterday’s session closing out just off the intra day highs. Support will lie at the short term ascending support at roughly $214, followed by the low of yesterday’s range at $213.62, then $213.44, $213.38, $213.03, and the 200 day moving average at $212.87. Resistance will lie at the high of yesterday’s range at $215.68, followed by $215.88, and a confluence of multiple resistance points at $216.90 – $217, which is comprised of the short term ascending resistance, the high of Friday, and the 50 day moving average.
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**
$SRPT
$TPX
Economic Calendar
8:30 August durable goods orders expected -1.5% and -0.5% ex trans
10:00 Fed Chair Janet Yellen testifies before the House Financial Services Committee
10:10 St. Louis Fed President James Bullard speaks
10:30 EIA Weekly Petroleum Status Report
1:30 Chicago Fed President Charles Evans speaks
Notable Earnings Before Open
NONE
Notable Earnings After Close
NONE
September 28th Swing Watch List
$IMMU – Nice bull flag on this bio runner. Long entry is over 3.45-3.50, stop is 3.20. Target is 3.80s and the 4+.
$GPOR – On short watch as this oil name flirts with big support after failing to make new highs. Short entry is under 26.00, stop 27.00. Target is 24.75 and lower.
