Economic Calendar & Watch Lists 5/9/2016

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Monday May 9, 2016

 

Economic Calendar & Watch Lists 5/9/2016

 

Morning Notes

US Futures are modestly higher this morning and European stocks are trading sharply higher at +1.5% after a jump in crude lifts energy producing stocks. The wildfires in Alberta, Canada have cut production by 1M BPD. Asian stocks closed mostly mixed.

 

Technicals

SPY59

The SPY closed out Friday’s session on the highs along with closing back above the recent critical pivot at $205.25. Support will lie at the the 50 Day SMA at $204.45, followed by the low of Friday’s range at $203.88. Resistance will lie at the high of Friday’s range at $205.77, followed by $205.98, $206.80, and then the $207 resistance pivot.

 

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**

$BIDU

$TSN

$VRX

 

Economic Calendar

11:00 USDA weekly grain export inspections

1:00 Minneapolis Fed President Neel Kashkari speaks

4:00 USDA Weekly Crop Progress

 

Notable Earnings Before Open

XEL: Xcel Energy – EPS Est. $.46, Rev Est. $3B

TSN: Tyson Foods – EPS Est. $.96, Rev Est. $9.04B

 

Notable Earnings After Close

NONE

 

May 9th Swing Watch List

$MOH – A big 35% sell off after a nasty downgrade and bad earnings. Looking for a bounce following the nice doji on the daily. Long entry is over 45.75-46.00, stop 45.00. Room is to 48 and then 52. Nice range.

$FLR – Following an earnings miss, FLR is set up just above long term support. A break of this level and we fall quickly. Short entry is 50.36, stop 51.00. Room down to 48.95 and then 48.

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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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