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Apple Today 11/30/2016 EOM (AAPL)

seymour_greenz • November 30th 2016 11:24:18 AM

Good Morning,

S&P Futures are up 5 with +5 Fair Value, NASDAQ Futures are flat with +2 Fair Value and Dow Futures are up 39 as we bid farewell to a particularly action-packed November with oil prices surging on potential optimism over OPEC deal among an extra busy economic calendar, including Mortgage Applications, Jobs Report, Personal Income, Pending Home Sales and Petroleum Inventories, to name a few among multiple Fed speeches from Powell and Kaplan and a look at the Beige Book. In earnings land, a pair of stinkers: Autodesk, Inc. (ADSK) is down over 3.5% on lowered guidance and American Eagle Outfitters, Inc. (AEO) is down nearly 10.5% on weak guidance. Upcoming earners this afternoon include Box (BOX), Guess? Inc. (GES) and NQ Mobile Inc. (NQ) and a flock of retail tomorrow morning Kroger Co. (KR), Express, Inc. (EXPR), Lands' End, Inc. (LE), G-III Apparel Group, LTD. (GIII) and Sears Holdings Corporation (SHLD). Futures were flat in early morning and gained ground all morning credited to OPEC optimism and are near the highs as we approach the open.

Asian markets ended mixed. China went down 1.00%, Hong Kong gained 0.23% and Japan went up 0.01%. European markets are up. France is up 0.24%, Germany is up 0.59% and the UK is leading the advance, up 0.88%.

Commodities are mixed this morning. Oil is up 7.38%, natural gas is down 0.12% and gold is down 0.22%. Unleaded gas is up 5.32% and heating oil is up 5.60%. Metals are mostly down except copper. Meats are mostly down. Cocoa, coffee and cotton are up while corn, wheat and soybeans are down.

OPEC agrees to cut production in drive to end record glut. S&P, Dow hit record highs as oil, bank stocks gain. US consumer spending gain moderates as incomes increase. Strong ADP report raises hopes for jobs tally.

Autodesk, Inc. (ADSK) reported Q3 results yesterday afternoon with an adjusted loss of 18 cents per share beating expectations but with a lowered outlook and is down over 1.5% in pre-market.

American Eagle Outfitters, Inc. (AEO) announced Q3 results this morning with a profit of 4 cents per share that met expectations but is down nearly 10.5% on weak guidance.

This afternoon after the bell, look out for earnings from La-Z-Boy Incorporated (LZB), Box (BOX), Guess? Inc. (GES), New York & Company, Inc. (NWY) and NQ Mobile Inc. (NQ).

Tomorrow morning before the open, Kroger Co. (KR), Express, Inc. (EXPR), Lands' End, Inc. (LE), G-III Apparel Group, LTD. (GIII) and Sears Holdings Corporation (SHLD) are expected to report.

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

AAPL compressed and bounced back yesterday, ending down 0.11% on low volume. AAPL opened at 110.78 to high volume and quickly crunched down to an intra-day low of 110.07 at 10:04am on moderately high volume before spryly springing back up to an intra-day high of 112.03 on moderate volume at noontime. AAPL subsequently retreated slightly to the upper-111 area and held that line until 3pm when AAPL dipped sharply to 111 on moderate volume then bounced into the close. AAPL ended the day down 12 cents at 111.44 and gained 2 cents in after-hours to 111.56.

This morning in pre-market, AAPL opened up in conjunction with Futures, hung around mid-111 and pushed up towards 112 later in the morning. AAPL is currently up 53 cents at 111.99 as we approach the open.

Classic max-pain is 111. Today is the last day of November.


OPEC agrees to cut production in drive to end record glut:
https://www.bloomberg.com/news/articles/2016-11-30/opec-said-to-agree-oil-production-cuts-as-saudis-soften-on-iran

S&P, Dow hit record highs as oil, bank stocks gain:
http://www.reuters.com/article/us-usa-stocks-idUSKBN13P1KN

US consumer spending gain moderates as incomes increase:
https://www.bloomberg.com/news/articles/2016-11-30/u-s-consumer-spending-rises-at-more-moderate-pace-incomes-jump

Strong ADP report raises hopes for jobs tally:
http://www.usatoday.com/story/money/2016/11/30/adp-businesses-added-216000-jobs-big-rebound/94633616/

Pending home sales nudged upward in October:
http://www.usnews.com/news/business/articles/2016-11-30/pending-home-sales-nudged-upward-in-october

Apple's red iPhone battery case is for a good cause:
http://www.theverge.com/circuitbreaker/2016/11/30/13785628/apple-iphone-7-battery-case-product-red-announced

Google Earth Timelapse update shows Earth from 1984-2016:
http://arstechnica.co.uk/gadgets/2016/11/browse-three-decades-of-satellite-imagery-with-google-earth-timelapse/

GoPro to cut 15 percent of workforce amid sales slump:
http://www.reuters.com/article/us-gopro-redundancies-idUSKBN13P1MH

Mossberg says Facebook can and should wipe out fake news:
http://www.theverge.com/2016/11/30/13787750/walt-mossberg-facebook-fake-news

AMD will sneak-peek its high-end Zen CPU in December:
http://www.pcworld.com/article/3145399/hardware/amd-will-sneak-peek-its-high-end-zen-cpu-in-december-starting-a-new-cpu-war.html

Netflix finally lets you download to stream offline:
https://www.cnet.com/news/netflix-downloads-offline-streaming-stranger-things-orange-is-the-new-black/

2017 Honda CR-V review:
https://www.cnet.com/roadshow/auto/2017-honda-cr-v/review/

Saturn mission approaches tour finale:
http://www.bbc.com/news/science-environment-38160057

Astronomers propose low-mass supernova may have triggered the formation of the solar system:
http://www.techtimes.com/articles/187341/20161129/astronomers-propose-low-mass-supernova-may-have-triggered-the-formation-of-the-solar-system.htm

Water should be boiling but turns solid instead in carbon nanotubes:
http://www.techtimes.com/articles/187454/20161130/water-should-be-boiling-but-turns-solid-instead-in-carbon-nanotubes.htm

What are the mysterious jelly creatures on Huntington Beach?
http://www.csmonitor.com/Environment/2016/1130/What-are-the-mysterious-jelly-creatures-on-Huntington-Beach

Zambia's HIV "warrior" MP taking on taboos:
http://www.bbc.com/news/world-africa-38155771

If sleep deprivation is indeed costing the economy billions, it's not hard to fix it:
http://qz.com/848976/the-economic-cost-of-poor-sleep-and-lost-employee-productivity-is-in-the-billions-of-dollars/

Kansas sperm donor to same-sex couple not liable for child support:
http://www.bbc.com/news/world-us-canada-38159054

Tennis, anyone?
http://www.latimes.com/science/sciencenow/la-sci-sn-sports-long-life-20161129-story.html


Today's Economic Calendar:
7:00 MBA Mortgage Applications
8:00 Fed's Kaplan speech
8:15 ADP Jobs Report
8:30 Personal Income and Outlays
9:15 Fed's Powell speech
9:45 Chicago PMI
10:00 Pending Home Sales
10:30 EIA Petroleum Inventories
12:35 Fed's Mester: Monetary Policy and Economic Outlook
2:00 PM Fed's Beige Book
3:00 Farm Prices

Notable earnings this afternoon after the bell: MTSC, *LZB*, SNPS, BV, SMTC, DSGX, *BOX*, EXA, *GES*, TLYS, *NWY*, *NQ*, PVH, PSTG

And tomorrow before the open: CM, TD, XCRA, DCI, *KR*, *EXPR*, CBK, *LE*, *GIII*, *SHLD*

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