Economic Calendar & Watch Lists 10/17/2016

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Monday October 17, 2016

 

Economic Calendar & Watch Lists

 

Morning Notes

US Futures are tracking modestly lower this morning while European stocks also trade lower by nearly -.50% as the uncertainty in timing for an interest rate hike remains in recent comments from Fed Chair Janet Yellen. Asian markets closed mostly mixed.

 

Technicals

spy1017

The SPY tested its 100 day moving average, rejected and traded lower throughout Friday’s session. Support will lie at the low of Friday’s range at $213.03, followed by the support pivot at $212.50, then $211.21 and $210.78. Resistance will lie at 100 day moving average at $214.04, followed by the high of Friday’s range $214.69, then $215.74, $215.99, and the 50 day moving average at $216.45.

 

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**

$HAS

Economic Calendar

8:30 October Empire manufacturing survey general business conditions expected +2.99 to 1

9:15 September industrial production expected +0.2%

 

Notable Earnings Before Open

BAC: Bank of America – EPS Est. $.34, Rev Est. $20.73B

SCHW: Charles Schwab – EPS Est. $.33, Rev Est. $1.87B

HAS: Hasbro – EPS Est. $1.74, Rev Est. $1.58B

 

Notable Earnings After Close

NFLX: NetFlix – EPS Est. $.06, Rev Est. $2.28B

 

October 17th Watch List

$AVP – On swing watch for a move to 7.00 short term. Big resistance at 6.33 or so. Long entry is 6.35, stop 6. 09. Target is 6.70 and then 7.00. Nice liquid name to get some size on.

$AVGR – On swing watch for a breakout over 5. Looking for entry over 4.98-5.00, add spot 5.15. Target is 5.50-5.75, then 6.

$NVDA – Still on watch here as we need confirmation of a move higher.

$OCN – Still on watch as well, looking for a breakout over the 200 ema. Entry remains the same.

$EVH – Short opportunity if healthcare keeps selling with the SPY. Short entry is under 23.65, stop 24.25. Target is 22.00.

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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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