Apple Today 11/23/2016 (AAPL)seymour_greenz November 23rd 2016 11:09:02 AM
S&P Futures are down 1 with -1 Fair Value, NASDAQ Futures are down 3 with -1 Fair Value and Dow Futures are up 7 with Thanksgiving in the air set for tomorrow. The economic calendar is an overstuffed turkey today with Mortgage Applications, Durable Goods, Jobless Claims among others rolling in this morning. New Home Sales, Consumer Sentiment and Petroleum Inventories report after the bell and Natural Gas Inventory and FOMC minutes are also expected this afternoon. The earnings calendar winner is Deere & Company (DE), up over 11% in pre-market and the stinker is Urban Outfitters, Inc. (URBN), down nearly 10%. With the holiday pending, there's not much for upcoming earners until next week. Futures were up in early morning, peaked just after 4:30am and dropped sharply and are near the lows as we approach the open.
Asian markets ended mixed. China dropped 0.22%, Hong Kong went down 0.01% and Japan gained 0.31%. European markets are down. The UK is down 0.12%, France is down 0.38% and Germany is leading the decline, down 0.60%.
Commodities are mostly down this morning. Oil is down 0.81%, natural gas is down 1.44% and gold is down 1.21%. Unleaded gas is down 0.91% and heating oil is down 0.34%. Metals are down. Meats are mixed. Cocoa, coffee cotton, corn, wheat and soybeans are down.
US capital goods orders rise for 4th month in last 5. Jobless claims rebound from 43-year low, labor market still firming. Happy Thanksgiving!
HP Inc. (HPQ) reported Q4 earnings yesterday afternoon with mixed results and is down over 2% in pre-market. Urban Outfitters, Inc. (URBN) announced Q3 results that missed expectations and is down nearly 10%. GameStop Corp. (GME) reported Q3 earnings with mixed results and is up over 3.5%.
Deere & Company (DE) reported Q4 results this morning with profit of $285.3 million that beat expectations and is up over 11% in pre-market. Trina Solar Limited (TSL) is up nearly 0.5% after announcing a Q3 adjusted profit od 18 cents per share.
A leading bearish AAPL swing trade strategy is: When the 6 SMA is Below the 13 DEMA AND the 10 day Stochastics is Bearish, daily bars.
AAPL peaked above 112 yesterday and ended up 0.06% on light volume. AAPL opened up at 111.95 to high volume and ran up to an intra-day high of 112.42 at 9:52am on moderate volume before sharply slipping down into the red on moderate volume and scraping an intra-day low of 111.40 at 10:48am on moderate volume. AAPL bounced off the lows and made it back to the upper-111 area by early afternoon and settled down a but into the close. AAPL ended the day up 7 cents at 111.80 and dropped 3 cents in after-hours to 111.77.
This morning in pre-market, AAPL opened higher in conjunction with Futures and set a pre-market high of 111.96 at 5:03am and dipped below 111.5 later in the morning as Futures worsened. AAPL is currently down 40 cents at 111.40 as we approach the open.
Classic max-pain is 110. Tomorrow is Thanksgiving! Have a good holiday with your friends and family.
US capital goods orders rise for 4th month in last 5:
Jobless claims rebound from 43-year low, labor market still firming:
Whitman's slimmer Hewlett Packard offers promise of growth:
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Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:30 Durable Goods
8:30 Initial Jobless Claims
9:00 FHFA House Price Index
9:45 PMI Manufacturing Index Flash
9:45 Bloomberg Consumer Comfort Index
10:00 New Home Sales
10:00 Consumer Sentiment
10:30 EIA Petroleum Inventories
12:00 PM EIA Natural Gas Inventory
1:00 PM Results of $28B, 7-Year Note Auction
2:00 PM FOMC minutes
Notable earnings this afternoon after the bell: ZPIN, SQM
And on Friday before the open: TYEKF, VNRCF