Economic Calendar & Watch List 5/1/2017

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Monday May 1, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are pointing to a slightly higher open this morning as the government shut down will be avoided at least in the near term after a tentative agreement was reached with congress. European and Asian markets are closed today in observance of the Labor Day holiday.

 

Technicals

The SPY drifted lower throughout Friday’s session, closing out on the lows. Support will lie at low of Friday’s range at $237.93, followed by $237.81, $237.41, $236.61, the recent pivot point at  $236.30, then the former descending resistance which also coincides with both the 20EMA and 50SMA at $236.10, providing a strong support level. Resistance will lie at the high of Friday’s range at $238.93, 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**

 

Economic Calendar

8:30 March personal spending expected +0.2%

8:30 March personal income expected +0.3%

8:30 March PCE deflator expected -0.2%

9:45 Revised Apr Markit manufacturing PMI

10:00 April ISM manufacturing index expected -0.7 to 56.5

10:00 March construction spending expected +0.4%

 

Notable Earnings Before Open
Cardinal Health (CAH) – EPS Est. $1.46
DISH Network (DISH) – EPS Est. $0.69
Diamond Offshore Drilling (DO) – EPS Est. $0.12
Loews Corp. (L) – EPS Est. $0.65

 

Notable Earnings After Close
Advanced Micro Devices (AMD) – EPS Est. -$0.04

Tenet Healthcare (THC) – EPS Est. -$0.51

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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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