Morning Notes
US futures are higher again this morning nearing a 5 month high while European stocks are also trading higher by +1.3% and at monthly highs. The price of Crude edged higher and back up $40, lifting energy producer stocks. Asian stocks closed predominantly higher.
Technicals
The SPY (NYSE:SPY) extended its recent gains in yesterday’s session closing out on the highs. Support will lie at the high of yesterday’s range at $209.28, followed by the low of yesterday’s range at $207. Resistance will lie at $209.73, $209.97, and macro descending resistance at $210 which when tested as of recently, has failed illustrated by the chart above.
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**
Harley-Davidson Inc (NYSE:HOG)
eBay Inc (NASDAQ:EBAY)
Netflix Inc (NASDAQ:NFLX)
Economic Calendar
8:30 Mar housing starts expected -1.0% to 1.166 million
Notable Earnings Before Open
HOG: Harley Davidson – EPS Est. $1.28, Rev Est. $1.5B
KSU: Kansas City Southern (NYSE:KSU) – EPS Est. $.97, Rev Est. $565.58
UNH: UnitedHealth Group Incorporated (NYSE:UNH) – EPS Est. $1.72, Rev Est. $43.96B
GS: Goldman Sachs (NYSE:GS) – EPS Est. $2.57, Rev Est. $6.76B
JNJ: Johnson & Johnson (NYSE:JNJ) – EPS Est. $1.64, Rev Est. $17.47B
PM: Philip Morris International Inc (NYSE:PM)– EPS Est. $1.11, Rev Est. $6.35B
Notable Earnings After Close
INTC: Intel (NASDAQ:INTC) – EPS Est. $.49, Rev Est. $13.88B
ISRG: Intuitive Surgical (NASDAQ:ISRG) – EPS Est. $4.35, Rev Est. $593.08M
YHOO: Yahoo! (NASDAQ:YHOO) – EPS Est. $.07, Rev Est. $1.08B
April 19th Swing Watch List
AMAG Pharmaceuticals Inc (NASDAQ:AMAG) – Popping up with nice relative volume, this bio has a great setup to move higher. Looking for a long over 26.80-26.90, stop 26.00 Room here is to 27.60 (add spot) and then 29.60 target.
DSW Inc (NYSE:DSW) – Short watch after catching some lowered price targets. This has been trading heavy near support and finally broke today and tested the next level down. Looking for a short entry under 25.30, add under 25.00. Room here is to 24.30 and then 23.70. Stop will be 26.