Economic Calendar & Watch List 4/6/2017

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Thursday April 6, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are flat to slightly lower while European stocks edge lower by roughly -.50% on carryover from the move lower in US markets yesterday. US markets sold off into yesterday’s close after the FOMC minutes were released hinting towards more rate hikes in the near future, causing investors to reduce their exposure. Asian markets were also under pressure as Japan’s Nikkei closed lower by over -1.4% while the Heng Seng and Shanghai composite closed lower by over -1%.

 

Technicals

The SPY traded higher throughout the majority of yesterday’s session and then sold off into the late afternoon and close. Support will lie at the low of yesterday’s range at $234.54, followed closely by both the 50 day EMA at $234.28 and the low of Monday’s range at $233.91. Then, $233.14, $231.61, $230.62, $229.56, $229.39, $228.31, $228.10 and the 100 day SMA at $229.39. Resistance will lie at the 20 day EMA at $235.47, followed by the high of yesterday’s range at $237.39 then $237.61. New short term descending resistance falls at $237.80, followed by the remaining levels of resistance at $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**

$BBBY

Economic Calendar

8:30 Weekly initial unemployment claims expected -8,000 to 250K

8:30 USDA weekly Export Sales

9:30 San Francisco Fed President John Williams speaks

 

Notable Earnings Before Open
Lowe’s Cos. (NYSE: LOW) – EPS Est. $0.85

Target (NYSE: TGT) – EPS Est. $1.20

 

Notable Earnings After Close
American Eagle Outfitters (NYSE: AEO) – EPS Est. $0.18

Cisco Systems (Nasdaq: CSCO) – EPS Est. $0.55

salesforce.com (NYSE: CRM) – EPS Est. $0.23

Take-Two Interactive Software (Nasdaq: TTWO) – EPS Est. $0.26

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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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