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Apple Today 11/18/2016 OPEX (AAPL)

seymour_greenz • November 18th 2016 11:03:53 AM

Good Morning,

S&P Futures are down 1 with -2 Fair Value, NASDAQ Futures are down 1 with +3 Fair Value and Dow Futures are down 8 on this OPEX Friday before Thanksgiving. The economic calendar is calmer today with a few appearances from the Fed among Baker-Hughes Rig Count at 1pm. The earnings calendar winners include Nuance Communications, Inc. (NUAN), up nearly 8%, Salesforce.com, Inc. (CRM), up nearly 6% and Ross Stores, Inc. (ROST), up nearly 4%. Stinkers include The Gap, Inc. (GPS), down over 7%, Applied Materials, Inc. (AMAT), down nearly 2% and Abercrombie & Fitch (ANF), down over 9.5%. Look for upcoming earner Cheetah Mobile Inc. (CMCM) on Monday morning. Futures were flat in early morning, dipped to a low at 4:15am and then recovered to new highs later in the morning and are back near flat as we approach the open.

Asian markets ended mostly up. China went down 0.49%, Hong Kong went up 0.37% and Japan gained 0.59%. European markets are mostly down. The UK is down 0.04%, Germany is up 0.35% and France is down 0.16%.

Commodities are mixed this morning. Oil is up 0.35%, natural gas is up 2.44% and gold is down 1.03%. Unleaded gas is down 0.17% and heating oil is up 0.68%. Metals are down. Meats are mostly down. Coffee and corn are up while cocoa, cotton, wheat and soybeans are down.

Dollar charges to 14-year high, bond tantrum in full swing.

Nuance Communications, Inc. (NUAN) reported Q4 results yesterday afternoon with adjusted earnings of 41 cents per share that topped expectations and is up nearly 8% in pre-market. Applied Materials, Inc. (AMAT) announced Q4 results with adjusted earnings of 66 cents per share that beat expectations and is down nearly 2%. Salesforce.com, Inc. (CRM) is up nearly 6% after posting a strong Q3 and outlook. The Gap, Inc. (GPS) reported Q3 results with adjusted earnings of 60 cents per share and is down over 7%. Ross Stores, Inc. (ROST) is up nearly 4% after beating Q3 results. Williams-Sonoma Inc. (WSM) announced Q3 results with adjusted earnings of 79 cents per share and is down nearly 4%.

Foot Locker, Inc. (FL) reported Q3 results this morning with adjusted earnings of $1.13 that beat expectations and is down over 1% in pre-market. Abercrombie & Fitch (ANF) announced Q3 results with adjusted earnings of 2 cents per share that missed expectations and is down over 9.5%.

On Monday morning before the open, look out for earnings from Cheetah Mobile Inc. (CMCM).

A leading bullish CRM swing trade strategy is: When the 3 EMA is Below the 6 SMA AND the 7 day Smoothed Stochastics is Bearish, daily bars.

AAPL dropped to 109 and then splashed back to 110, ending down just 0.04% on low volume. AAPL opened at 109.82 to high volume then quickly popped to an intra-day high of 110.35 at 9:34 on high volume before dropping down below 109 to an intra-day low of 108.83 on moderate volume. AAPL quickly bounced back above 109 and clawed back to the mid-109 area by lunchtime. AAPL maintained a narrow range in the mid to upper-109 area on low volume before making a dash towards 110 into the close on moderate volume. AAPL ended the day down 4 cents at 109.95 and dropped 10 cents in after-hours to 109.85.

This morning in pre-market, AAPL opened lower and scraped a pre-market low of 109.13 at 4:49am and them bounced back sharply to 110 later in the morning before settling below 110. AAPL is currently down 22 cents at 109.73 as we approach the open.

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


Dollar charges to 14-year high, bond tantrum in full swing:
http://www.reuters.com/article/us-global-markets-idUSKBN13D040

Dollar heads for best fortnight vs yen since 1988:
http://www.reuters.com/article/us-global-forex-idUSKBN13D03H

Fed's Bullard leaning towards supporting December rate hike:
http://in.reuters.com/article/usa-fed-bullard-idINKBN13D19X

Volkswagen plans 30,000 job cuts worldwide:
http://www.bbc.com/news/business-38023933

US says concerned over Russia blocking access to LinkedIn:
http://www.reuters.com/article/us-russia-linkedin-diplomacy-idUSKBN13D0ST

15 cool things you can do with the Apple Touch Bar:
http://www.pcmag.com/article/349609/15-cool-things-you-can-do-with-the-apple-touch-bar

Chinese vendors, not Apple, gained the most from the Galaxy Note 7 disaster:
http://www.valuewalk.com/2016/11/chinese-vendors-galaxy-note-7-disaster/

Intel looks to a new chip to power the coming age of AI:
https://www.wired.com/2016/11/intel-unveils-new-chip-age-ai/

Amazon offers deep discounts to Alexa shoppers:
https://www.cnet.com/news/amazon-offering-deep-discounts-to-alexa-shoppers/

Microsoft adds 3D Paint to latest Windows 10 Creators Update test build:
http://www.zdnet.com/article/microsoft-adds-3d-paint-to-latest-windows-10-creators-update-test-build/

Elon Musk says Tesla's new solar shingles will cost less than a regular roof:
http://fortune.com/2016/11/18/elon-musk-tesla-solarcity-solar-roof/

Xiaomi's Mi Mix is one amazing almost bezel-less phone:
https://www.cnet.com/pictures/xiaomis-mi-mix-is-one-amazing-almost-bezel-less-phone/

How to avoid Stephen Hawking's dark prediction for humanity:
http://www.livescience.com/56926-stephen-hawking-humanity-extinct-1000-years.html

Scientists modify photosynthesis to produce more crops:
http://www.techtimes.com/articles/186302/20161118/scientists-modify-photosynthesis-to-produce-more-crops.htm

Asteroid strike made "instant Himalayas":
http://www.bbc.com/news/science-environment-38019604

We really need to figure out how to stop a killer asteroid, scientists say:
https://www.washingtonpost.com/news/speaking-of-science/wp/2016/11/18/we-really-need-to-figure-out-how-to-stop-a-killer-asteroid-scientists-say/

Astronomers home in on source of strange radio burst:
http://news.nationalgeographic.com/2016/11/fast-radio-bursts-source-universe-magnetic-space-science/

Terminally ill teen won historic ruling to preserve body:
http://www.bbc.com/news/health-38012267

Scientists are developing a slow-release pill that reduces how often you need to take your medicine:
http://qz.com/838357/mit-scientists-have-developed-a-slow-release-pill-that-can-make-treatment-for-malaria-easier/

Gloves please!
https://www.washingtonpost.com/news/to-your-health/wp/2016/11/17/scientists-catalogue-the-yucky-stuff-on-new-york-city-atms/


Today's Economic Calendar:
5:30 Fed's Bullard speech
9:30 Fed's George speech
10:00 Leading Indicators
11:00 Kansas City Fed Mfg Survey
1:00 PM Baker-Hughes Rig Count
1:30 PM Fed's Kaplan speech

Notable earnings on Monday before the open: *CMCM*, EGDFF

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