Economic Calendar & Watch List 8/2/2017

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Wednesday August 2, 2017

 

Economic Calendar & Watch List

 

Morning Notes

US Futures are higher this morning as the DOW is set to post new record highs by surpassing 22,000 fueled by an earnings beat by Apple (AAPL).  European shares are mostly down in early trading as EUR/USD hit a 2.5 year high. Asian stocks settled mixed on the day.

 

Technicals

The SPY opened at the high of Monday’s session and consolidated at the ascending resistance closing slightly back above. Support will lie at the low of yesterday’s range at $246.8, followed by $246.53, $246.13. Support continues with a short term pivot point at $245.70, followed by the 20 EMA at $245.66, then $244.67, $244.31, $243.76 and the 50 SMA at $243.74. Further support lies at the gap entry at $243.30, then gap fill at $242.55. Resistance will lie at Tuesday’s high of $247.50 and the record highs at $248.

 

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**

$AAPL

 

Economic Calendar

0815 July ADP private payroll expected +190k

1000  EIA Weekly Petroleum Status Report

1100  Fed Pres. Mester Speaks

1530  Fed Pres. Williams Speaks

 

Notable Earnings Before Open
Time Warner (TWX) – EPS Est. $1.19

Mondelez International (MDLZ) – EPS Est. $0.46

Humana (HUM) – EPS Est. $3.08

Cardinal Health, Inc. (CAH) – EPS Est. $1.24

SodaStream International (SODA) – EPS Est. $0.51

 

Notable Earnings After Close

Tesla (TSLA) – EPS Est. $-2.00

American International Group (AIG) – $1.20

Square (SQ)  – EPS Est. $-0.04

Chemours Company (CC) – EPS Est. $0.90

Take-Two Interactive Software (TTWO) – EPS Est. $0.19

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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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