Morning Notes
US Futures are slightly lower this morning while European stocks are trading lower by roughly -.50% after the price of crude and metals slid lower. Asian stocks closed predominantly lower.
Technicals
The SPDR S&P 500 (NYSE:SPY) support levels for today are at the low of Friday’s range at $207.91, followed by $207, $206.84, and $206.25. Resistance will lie at the high of Friday’s range at $209.29, followed by macro descending resistance at $210, and the high of Thursday’s range at $210.25.
Small Cap Watch List
Valeant Pharmaceuticals (NYSE:VRX)
Perrigo Co (NYSE:PRGO)
Economic Calendar
10:00 Mar new home sales expected +1.6% to 520,000
10:30 Apr Dallas Fed manufacturing activity expected +3.6 to -10.0
11:00 USDA weekly grain export inspections
1:00 Treasury auctions $26 billion of 2-Year T-notes
4:00 USDA Weekly Crop Progress
Notable Earnings Before Open
HAL: Halliburton (NYSE:HAL) – EPS Est. $.04, Rev Est. $4.16B
XRX: Xerox Corp (NYSE:XRX) – EPS Est. $.23, Rev Est. $4.24B
UTX: United Technologies (NYSE:UTX) – EPS Est. $1.39, Rev Est. $13.18B
Notable Earnings After Close
ESRX: Express Scripts (NASDAQ:ESRX) – EPS Est. $1.23, Rev Est. $25.2B
April 25th Swing Watch List
Adamas Phar (NASDAQ:ADMS) – A breakout setup after a series of bull flag breaks following a consolidation period. This trades under long-term resistance at 19.00. Over that, and this can really open up quickly. Long entry is over 19.00, stop 18.50. Target is 19.75 and then somewhere under 21.00.
WisdomTree Investments Inc (NASDAQ:WETF) – A liquid financial under a great resistance breakout spot just ahead of earnings. Long entry is over 12.90, stop 12.60. Add spot at 13.00 with a target of 13.856 and then 14.50.
Trinseo SA (NYSE:TSE) – After a massive rip into new highs for nearly a month now, the RSI is overbought and the dojis are piling up. Looking for a move back to 40. Short entry under 43, add under 42.86. Stop will be 44.00.