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Apple Today 12/02/2016 OPEX (AAPL)

seymour_greenz • December 2nd 2016 10:29:03 AM

Good Morning,

S&P Futures are down 4 with -2 Fair Value, NASDAQ Futures are down 16 with -13 Fair Value and Dow Futures are down 20 on this first OPEX of the last month of 2016. Non-farm payrolls are the name of the game today, economically speaking. The calendar also has two Fed speeches from Brainard and Tarullo as well as Baker-Hughes Rig Count this afternoon at 1pm.

The earnings winner today is Big Lots, Inc. (BIG), up nearly 4.5% among the outnumbering stinkers: Workday (WDAY),down nearly 14.5%, Ambarella (AMBA), down nearly 7.5% and G-III Apparel Group, LTD. (GIII) and down nearly 9%.

Futures were down in early morning and sunk lower by 4:30am among more volatility and downward spiking before somewhat recovering towards the highs, though still in the crimson as we approach the open.

Asian markets ended down. China dropped 0.90%, Japan went down 0.47% and Hong Kong led the decline, up 1.37%. European markets are down. The UK is down 0.77%, Germany is down 0.77%, and France is leading the decline, down 1.20%.

Commodities are mixed this morning. Oil is down 1.06%, natural gas is down 1.08% and gold is up 0.44%. Unleaded gas is down 1.48% and heating oil is down 1.18%. Metals are mixed, gold and platinum are up while silver and copper are down. Meats are down. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.

US payrolls rise, jobless rate falls to 4.6%.

Workday (WDAY) reported Q3 results yesterday afternoon with a loss and is down nearly 14.5% in pre-market. Ambarella (AMBA) announced Q3 results with adjusted earnings of $1.11 per share that topped expectations and is down nearly 7.5%. G-III Apparel Group, LTD. (GIII) reported Q3 results with net income of $1.50 per share that missed expectations and is down nearly 9%. Ascena Retail Group Inc (ASNA) missed Q1 forecasts and is down over 2%.

Big Lots, Inc. (BIG) reported Q3 results this morning and is up nearly 4.5% in pre-market. Dollar General Corporation (DG) announced Q3 results that missed expectations and has yet to react.

A leading bullish TSLA swing trade strategy is: When the 15 SMA is Above the 26 EMA AND the 39 day Smoothed Stochastics is Bearish, daily bars.

The AAPL bear stepped an icy paw out yesterday, dropping another 0.93% on higher than average volume. AAPL opened at 110.34 to high volume and dipped below 110 on high volume before popping up to an intra-day of 110.94 high minutes later at 10:06am, AAPL then had a bearish icy slide down to an intra-day low of 109.03 on high volume at 10:44am before bouncing back above 110 for lunchtime on low volume. After lunch AAPL slipped back to the mid-109 area on low volume and climbed up to the upper-109 area into the close on low volume. AAPL ended the day down $1.03 at 109.49 and gained 21 cents in after-hours to 109.70.

This morning in pre-market, AAPL opened lower in conjunction with Futures and scraped a pre-market low of 108.76 at 5:22am before crawling back up to the mid-109 area alongside Futures recovery. AAPL is currently down 9 cents at 109.40 as we approach the open.

Classic max-pain is 110. Today is OPEX. Have a good weekend with your friends and family.

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Today's Economic Calendar:
8:30 Non-farm payrolls
8:45 Fed's Reserve Gov. Lael Brainard speech
12:30 PM Daniel Tarullo speech
1:00 PM Baker-Hughes Rig Count

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