Economic Calendar & Watch List 4/28/2017

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Wednesday April 28, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are slightly higher this morning being led by GOOGL and AMZN quarterly earnings reports. However, gains in equities are muted due to the geopolitical tensions with North Korea. European stocks were under pressure after UK Q1 GDP came in lighter than expected. Asian stocks closed mostly mixed.

 

Technicals

The SPY remained rather indecisive without a clear trend throughout yesterday’s session. Support will lie at low of yesterday’s range at $237.98, followed by Tuesday’s low at $237.81, then the high of Monday’s range at $237.41, the former recent descending resistance at $236.30, which also coincides with the recent pivot point, providing a strong support level. Further, the 50SMA at $236.05, the 20EMA at $235.88, and the high of Friday’s range at $235.31. Resistance will lie at the high of yestederday’s range at $238.95, followed by $239.53, $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**

$QCOM

Economic Calendar

8:30 Q1 GDP expected +1.0%

8:30 Q1 personal consumption expected +0.9%

8:30 Q1 employment cost index expected +0.6%

9:45 April Chicago PMI expected -1.2

10:00 Final April University of Michigan U.S. consumer sentiment index expected unchanged

2:30 Philadelphia Fed President Patrick Harker speaks

 

Notable Earnings Before Open
Chevron (CVX) – EPS Est. $0.92
Colgate-Palmolive (CL) – EPS Est. $0.66
ExxonMobil (XOM) – EPS Est. $0.87
General Motors (GM) – EPS Est. $1.46
Goodyear Tire (GT) – EPS Est. $0.63
Phillips 66 (PSX) – EPS Est. $0.13
Royal Caribbean Cruises (RCL) – EPS Est. $0.92
Sanofi (SNY) – EPS Est. N/A
Spirit Airlines (SAVE) – EPS Est. $0.49
V.F. Corp. (VFC) – EPS Est. $0.55

 

Notable Earnings After Close
NONE

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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 mike@warriortradingnews.com 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.

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