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Apple Today - 9/26/2016 (AAPL)

seymour_greenz • September 26th 2016 09:41:11 AM

Good Morning,

Welcome back. NASDAQ Futures are down 26 with -22 Fair Value, S&P Futures are down 9 with -8 Fair Value and Dow Futures are down 86 as we begin the last week of September, first full week of fall and the much anticipated 1st Presidential Debate at 9pm with a dash of economic data on home sales and manufacturing expected this morning. The earnings calendar is light and Futures were down slightly in early morning and dropped sharply shortly after 3am, reaching a low less than an hour later and bouncing off the lows but are still down sharply as we approach the open.

Asian markets ended down sharply. Hong Kong dropped 1.56%, Japan went down 1.25% and China led the decline, down 1.76%. European markets are also down sharply. The UK is down 1.14%, Germany is down 1.64% and France is leading the decline, down 1.66%.

Commodities are mixed this morning. Oil is up 1.37%, natural gas is up 0.78% and gold is down 0.06%. Unleaded gas is up 1.33% and heating oil is up 1.51%. Metals are down. Meat is mixed. Cotton is up while cocoa, coffee, corn, wheat and soybeans are down.

World stocks get twitchy before Trump-Clinton showdown. No sign of oil freeze at home as Russia meets OPEC. German business morale shrugs off Brexit to hit 28-month high.

Cal-Maine Foods Inc (CALM) reported Q1 earnings this morning that missed expectations and is down over 4.5% in pre-market. Carnival Corp. (CCL) announced Q3 results and is down over 1.5%.

Tomorrow morning before the open, FactSet Research Systems Inc. (FDS) is expected to report.

AAPL had a "rough-and-tumble" week, dropping 1.92% on low volume. On Monday, AAPL heartbeat pulsed up above 116, then down to 113.5, ending 1.25% lower on higher than average volume. On Tuesday, AAPL got a glimpse of sub-113 shark-filled waters, yet ended down just 0.01% in the mid-113 area on a bit higher than average volume. On "Fed day" Wednesday, AAPL dropped below 112.5 and then bounced back nicely, limiting losses to 0.02% on lower than average volume. On Thursday, AAPL ran up through fields of green above 114 towards 115 with a hint of clouds near the end of day, ending up 0.94% on low volume. On Friday, AAPL "crash landed" the OPEX chopper down 1.67% on high volume, right on classic max-pain. AAPL opened down slightly at 114.46 to high volume and set an intra-day high of 114.79 within 2 minutes on high volume before dipping to the low-114 area by 10am on moderate volume. AAPL subsequently bounced back to the mid-114 area in what felt like slow motion, in a narrow range and on low volume, turning green again at 1pm before GfK issued a "mysterious report" slamming international iPhone sales. AAPL responded with a sharp selloff on huge volume, dragging AAPL down below 111 and setting an intra-day low of 111.55 before bouncing back and struggling to recover 113 after 3pm. After recovering the low-113 area on moderate volume, AAPL slipped below 113 in the last half-hour. AAPL ended the day down 1.91 at 112.71 and dropped 48 more cents in after-hours to 112.23.

This morning in pre-market, AAPL opened lower in conjunction with Futures, hitting a pre-market low of 111.01 at 4:19am before bouncing back to the low-112 area and setting a pre-market high of 112.15 at 7:07am. AAPL is currently down 91 cents at 111.80 as we approach the open.


Classic max-pain is 111.

World stocks get twitchy before Trump-Clinton showdown:
http://www.reuters.com/article/us-global-markets-idUSKCN11W00R

No sign of oil freeze at home as Russia meets OPEC:
http://www.reuters.com/article/us-opec-meeting-russia-idUSKCN11W17Z?il=0

German business morale shrugs off Brexit to hit 28-month high:
http://www.reuters.com/article/us-germany-economy-ifo-idUSKCN11W0OP?il=0

GfK issues mysterious report slamming Apple iPhone sales in Europe, Apple shares drop
http://www.forbes.com/sites/jaysomaney/2016/09/24/gfk-issues-mysterious-report-slamming-apple-iphone-sales-in-europe-apple-shares-drop/#4c6fd3c91c3a

Bank of America to cut Asia investment banking jobs:
http://www.reuters.com/article/us-bank-of-america-asia-asiapac-idUSKCN11W12P

Wells Fargo CEO gets $123.6M if he walks:
http://www.usatoday.com/story/money/markets/2016/09/26/wells-fargo-ceo-retire-quit/90952770/

Singapore-based music startup buys 49% stake in Rolling Stone:
https://techcrunch.com/2016/09/25/bandlab-rolling-stone/

Here's how Microsoft is using containerization to protect Edge users:
http://www.pcworld.com/article/3124225/security/heres-how-microsoft-is-using-containerization-to-protect-edge-users.html

Google's self-driving car involved in serious crash after van jumps a red light:
http://www.telegraph.co.uk/technology/2016/09/26/googles-self-driving-car-involved-in-serious-crash-after-van-jum/

Google wants to make mobile, video and programmatic "revolutions" blase by 2020:
http://www.adweek.com/news/technology/google-wants-make-mobile-video-and-programmatic-revolutions-blas-2020-173655

Meeting Cellebrite - master phone crackers:
http://www.bbc.com/news/technology-37441109

Palmer Luckey distances himself from Nimble America group:
http://www.wired.co.uk/article/palmer-luckey-apologises-nimble-america-oculus

Snap Inc is Snapchat, but now with video-recording "Spectacles":
https://www.theguardian.com/technology/shortcuts/2016/sep/26/snap-inc-snapchat-spectacles-video-recording-sunglasses

China completes largest radio telescope in the world:
http://www.npr.org/sections/thetwo-way/2016/09/25/495036700/china-completes-largest-radio-telescope-in-the-world

Elon Musk's dream of going to Mars is SpaceX's biggest strength, and its biggest distraction:
http://qz.com/787644/elon-musks-dream-of-going-to-mars-is-spacexs-biggest-strength-and-its-biggest-distraction/

Does Jupiter's moon Europa have a subsurface ocean?
http://www.space.com/34172-europa-subsurface-ocean-what-we-know.html

Stephen Hawking is still afraid of aliens:
http://www.livescience.com/56249-stephen-hawking-is-afraid-of-aliens.html

Is your cat a Viking?
http://www.csmonitor.com/Science/2016/0925/Did-the-Vikings-help-distribute-cats-around-the-world

US cities reconsider LED streetlights after AMA warning:
http://www.techtimes.com/articles/179306/20160926/us-cities-reconsider-led-streetlights-after-ama-warning.htm

5 things to know about controversial human embryo editing:
http://www.livescience.com/56243-human-embryo-editing.html

Body fat link to bacteria in faeces:
http://www.bbc.com/news/health-37452630


Today's Economic Calendar:
9:30 Fed's Kashkari: "Too Big to Fail"
10:00 New Home Sales
10:30 Dallas Fed Manufacturing Survey
1:00 PM Results of $26B, 2-Year Note Auction


Notable earnings this afternoon after the bell: THO, ROSG, SNX, MAMS

And on Monday before the open: SYMX, *FDS*, WOSCF, NEOG, INFO

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