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Apple Today 11/16/2016 (AAPL)

seymour_greenz • November 16th 2016 11:52:41 AM

Good Morning,

S&P Futures are down 8 with -3 Fair Value, NASDAQ Futures are down 10 with -1 Fair Value and Dow Futures are down 59 as we hit mid-week with another busy morning on the economic calendar ranging from Mortgage Applications to Housing Market Index to Petroleum Inventories. The earnings calendar winners include Agilent Technologies Inc. (A), up nearly 2%, Target Corporation (TGT), up over 7.5%. and JinkoSolar Holding Co., Ltd. (JKS), also up over 7.5%. However, earnings stinker Lowe's Companies, Inc. (LOW) is down nearly 5%. Upcoming earners include Cisco Systems, Inc. (CSCO) and NetApp, Inc. (NTAP) after the bell and Wal-Mart Stores, Inc. (WMT), Best Buy Co. (BBY) and Staples, Inc. (SPLS) tomorrow morning. Futures were up in early morning, peaked just after 12:30 am and then dipped sharply hitting a low just before 7:45am and are scraping the lows as we approach the open.

Asian markets ended mixed. China went down 0.06%, Hong Kong dropped 0.19% and Japan went up 1.10%. European markets are down sharply. The UK is down 0.73%, France is down 0.91% and Germany is leading the decline, down 1.03%.

Commodities are mixed this morning. Oil is down 0.94%, natural gas is down 0.66% and gold is up 0.02%. Unleaded gas is up 0.07% and heating oil is down 0.58%. Metals are down except gold. Meats are mixed. Cocoa, cotton, corn, wheat and soybeans are up while coffee is down.

US manufacturing output rose for a 2nd month in October. US wholesale prices in were weaker than forecasted in October. Dollar hits 14-year high as bond sell-off resumes.

Agilent Technologies Inc. (A) reported Q4 results yesterday afternoon that topped expectations and is up nearly 2% in pre-market.

Lowe's Companies, Inc. (LOW) announced Q3 earnings that missed expectations and is down nearly 5% in pre-market. Target Corporation (TGT) "crushed it" on a solid Q3 and ups view and is up over 7.5%. JinkoSolar Holding Co., Ltd. (JKS) is also up over 7.5% after posting an adjusted Q3 profit of $1.40 per share.

This afternoon after the bell, look out for earnings from Cisco Systems, Inc. (CSCO) and NetApp, Inc. (NTAP).

Tomorrow morning before the open, Wal-Mart Stores, Inc. (WMT), J. M. Smucker Company (SJM), Best Buy Co. (BBY), The Children's Place Retail Stores, Inc. (PLCE), Perry Ellis International Inc. (PERY) and Staples, Inc. (SPLS) are expected to report.

A leading bullish WMT swing trade strategy is: When the 6 EMA is Below the 7 SMA AND the 35 day Stochastics is Bearish, daily bars.

AAPL got a sweet smack to nearly 108 yesterday, ending up 1.32% on low volume. AAPL opened up at 106.50 to high volume and set an intra-day low of 106.16 within minutes on high volume. AAPL popped up above the mid-107 area on strong volume setting an intra-day high of 107.68 at 10:18am on mild volume before a slow dip below 106.5 on low volume and then a reversal on mode low volume that saw the mid-107 area again shortly after 3pm. AAPL dipped towards 107 in the last hour on moderate volume and ended the day up $1.40 at 107.11 and remained flat in after-hours at 107.11.

This morning in pre-market, AAPL opened higher in conjunction with Futures and then declined alongside them, scratching a pre-market low of 106.30 before bouncing back. AAPL is currently down 41 cents at 106.70 as we approach the open.

Classic max-pain is 110.


US manufacturing output rose for a 2nd month in October:
http://www.bloomberg.com/news/articles/2016-11-16/u-s-manufacturing-output-rose-for-a-second-month-in-october

US wholesale prices in were weaker than forecasted in October:
http://www.bloomberg.com/news/articles/2016-11-16/wholesale-prices-in-u-s-were-weaker-than-forecast-in-october

Dollar hits 14-year high as bond sell-off resumes:
http://www.reuters.com/article/us-global-markets-idUSKBN13A03R

UK jobless rate falls amid signs labor market may be cooling:
http://www.bloomberg.com/news/articles/2016-11-16/u-k-labor-market-shows-signs-of-cooling-in-wake-of-brexit-vote

Target shares are up:
http://fortune.com/2016/11/16/target-stock-results/

Lowe's cuts profit forecast after missing sales estimates:
http://fortune.com/2016/11/16/lowes-profit-forecast-report/

Snapchat files for one of the biggest tech IPOs in years:
http://www.reuters.com/article/us-snapchat-ipo-idUSKBN13A2RD

Koch Industries' investment arm buys more than $2 billion stake in Infor:
http://www.reuters.com/article/us-infor-m-a-koch-idUSKBN13B1MC

Microsoft doubles down on Linux love, joins foundation:
http://www.pcworld.com/article/3142345/cloud-computing/microsoft-doubles-down-on-linux-love-joins-foundation.html

Microsoft offers antitrust concessions to EU over LinkedIn purchase:
http://arstechnica.com/tech-policy/2016/11/microsoft-linkedin-concessions-offer-eu-antitrust/

Microsoft Black Friday preview promises deals on Surface devices, Windows laptops:
http://www.zdnet.com/article/microsoft-black-friday-preview-promises-deals-on-surface-devices-windows-laptops/

Facebook increases transparency by updating video and 3rd-party viewability metrics:
http://www.adweek.com/news/technology/facebook-increases-transparency-updating-video-and-third-party-viewability-metrics-174654

Facebook, Google just need to stop calling fake news "news":
https://www.cnet.com/news/facebook-google-fake-news-election-2016-trump-clinton/

Twitter suspends some prominent alt-right accounts:
http://www.bbc.com/news/technology-37997864

Biofuel wood scraps help power Alaska Air cross-country flight:
http://www.usatoday.com/story/travel/flights/todayinthesky/2016/11/15/alaska-airlines-says-first-fly-forest-powered-flight/93911274/

New Balance decries bigotry after endorsement from neo-Nazi site:
https://www.bostonglobe.com/metro/2016/11/14/neo-nazi-site-calls-new-balance-official-shoe-white-people/xpn45MaKAPrE65w93RehHO/story.html

Overwhelming majority back US climate action, according to Kerry:
http://www.bbc.com/news/science-environment-38005101

Scientists are backing an asteroid-deflection mission:
http://www.csmonitor.com/Science/2016/1116/Why-scientists-are-backing-an-asteroid-deflection-mission

Closest supermoon since 1948 thrills skywatchers:
http://www.space.com/34721-skywatchers-supermoon-photos-november-2016.html

Thousands of dead fish clogged a New York canal... Why?
https://www.washingtonpost.com/news/speaking-of-science/wp/2016/11/16/thousands-of-dead-fish-clogged-a-new-york-canal-why/

People with Ebola may not show symptoms:
http://www.livescience.com/56894-people-with-ebola-may-not-have-symptoms.html

This kind of dieting is unhealthy for women:
http://time.com/4571618/dieting-weight-loss-heart-health/

Chinese scientists use gene-editing techniques in humans for first time:
http://www.cnn.com/2016/11/15/health/china-human-gene-testing-crispr-cas9/

More than 1 billion people globally are living with high blood pressure:
http://www.cnn.com/2016/11/15/health/high-blood-pressure-global-statistics/


Today's Economic Calendar:
7:00 MBA Mortgage Applications
7:30 Fed's Kashkari speech
8:30 Producer Price Index
9:15 Industrial Production
10:00 NAHB Housing Market Index
10:00 Atlanta Fed's Business Inflation Expectations
10:30 EIA Petroleum Inventories
4:00 PM Treasury International Capital

Notable earnings this afternoon after the bell: *CSCO*, *NTAP*, LB, TWMC, SFS, TWER, ANW, HI, GFF, GBDC, GEOS, JHX, PBIO, NTZ

And tomorrow before the open: MANU, KBCSF, *WMT*, *SJM*, *BBY*, SSI, FLY, SMRT, BONT, JASO, *PLCE*, ZX, ESLT, XPLT, *PERY*, SDXOF, SPB, HP, TMBCF, NJR, LQDT, AWLCF, EDAP, *SPLS*, IVTJF, ROYMF, PNTR, HMLP, ADRNY, JMPLD, PESAF

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