Economic Calendar & Watch List 4/18/2017

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Tuesday April 18, 2017


Economic Calendar & Watch List


Morning Notes

US Futures are pointing to a slightly lower open while European stocks also trade lower on weakness in energy producing stocks. The price of crude is trading lower by -.80% after data showed oil rigs at highest level in 1.5 years. Asian stocks closed mostly lower.



The SPY edged back higher throughout yesterday’s session coming off the Easter holiday, closing out the day on the highs. Support will at the low of yesterday’s range at $232.88, followed by $232.51, $231.61, $230.62, and the 100SMA at $230.16. Resistance will lie at the high of yesterday’s range at $234.57, followed by the 20EMA at $234.98 and 50SMA at $235.15. Then, $234.96, $235.18, and then the recent pivot point at $236.30. Short term descending resistance falls at $237, followed by the remaining levels of resistance at $237.39, $237.97, $238.10, $239.20, $239.44, $239.57, and record highs at $240.32.


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**




Economic Calendar

8:30 March housing starts expected -3.0% to 1.250M

9:00 Kansas City Fed President Esther George speaks

9:15 Mar industrial production expected +0.4%


Notable Earnings Before Open
Bank of America (BAC) – EPS Est. $0.35
Charles Schwab (SCHW) – EPS Est. $0.37
GNC Holdings (GNC) – EPS Est. $0.34
Goldman Sachs (GS) – EPS Est. $5.31
Grainger (GWW) – EPS Est. $2.99
Harley-Davidson (HOG) – EPS Est. $1.02
Johnson & Johnson (JNJ) – EPS Est. $1.77
UnitedHealth Group (UNH) – EPS Est. $2.17


Notable Earnings After Close
IBM (IBM) – EPS Est. $2.35
Interactive Brokers (IBKR) – EPS Est. $0.37
Intuitive Surgical (ISRG) – EPS Est. $4.95

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Mike Herman Mike graduated from the Florida State University with a Real Estate and Bachelor of Finance degree and focused particularly in the field of Behavioral Finance. During his time at the Florida State University, Mike began to trade equities and quickly realized the opportunities that existed in the markets. Through trading, Mike had facilitated relationships with a few very experienced individuals who had an expertise in the private equity field. More specifically, the private funding of small cap start-up companies. After several years of successful deals as a venture capitalist, Mike made the decision to return to work as an independent trader. Throughout the past 7 years of working as an independent trader, Mike has refined his strategy to focus on news driven momentum while factoring in market sentiment and psychology with an emphasis on proper risk management. Mike possesses a unique ability to rapidly decipher critical market moving news and take appropriate action. You can contact Mike at Legal Disclaimer – This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.