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Apple Today 2/24/2017 OPEX (AAPL)

seymour_greenz • February 24th 2017 12:43:27 PM

Good Morning,

S&P Futures are down 12 with -1 Fair Value, NASDAQ Futures are down 32 with +1 Fair Value and Dow Futures are down 92 as we finish up the last full week of February as the Dow has now officially closed at a record high in 10 consecutive trading sessions.

This morning's Economic Calendar includes: New Home Sales, Consumer Sentiment followed by Baker-Hughes Rig Count this afternoon.

The earnings winner is: Universal Display Corporation (OLED), up over 10%. On the other hand Hewlett Packard Enterprise (HPE) is down nearly 10%.

Futures were down in early morning and slipped sharply near 5:30am and are near the lows as we approach the open.

Asian markets ended mostly down. China went up 0.06%, Hong Kong dropped 0.62% and Japan went down 0.45%. European markets are down sharply. The UK is down 0.91%, France is down 1.50% and Germany is down 1.62%.

Commodities are mixed this morning. Oil is down 0.81%, natural gas is up 1.24% and gold is up 1.68%. Unleaded gas is down 0.77% and heating oil is down 1.12%. Metals are up strong. Meats are mixed. Coffee, cotton and soybeans are up while cocoa and wheat are down. Corn is flat.

Dow on track to break 10-day record run.

Baidu, Inc. (BIDU), reported Q4 results yesterday afternoon with mixed results that beat expectations and is down nearly 1.5% in pre-market. Herbalife Ltd. (HLF) announced Q4 results with adjusted earnings of $1 per share and is down 3%. Acadia Healthcare Co. (ACHC) reported Q4 results with adjusted earnings of 59 cents per share that beat expectations and is down nearly 3%. Nordstrom Inc. (JWN) announced Q4 results that beat expectations and is down 2%. Aspen Aerogels, Inc. (ASPN) is down nearly 1.5% after reporting a Q4 loss of 25 cents per share that missed expectations. The Gap, Inc. (GPS) reported Q4 results that met estimates and is down over 1.5%. Intuit Inc. (INTU) announced Q2 results with adjusted earnings of 26 cents per share and is up nearly 2%. Universal Display Corporation (OLED) reported Q4 results with net income of 55 cents per share that beat expectations and is up over 10%. Zoe's Kitchen (ZOES) announced Q4 results with an adjusted loss of 7 cents per share that missed expectations and is down over 8%. Hewlett Packard Enterprise (HPE) reported Q1 results with weak guidance and is down nearly 10%.

Foot Locker, Inc. (FL) reported Q4 results this morning with adjusted earnings of $1.37 per share that beat expectations and is up over 3% in pre-market. J.C. Penney Company Inc. (JCP) down 3.5% after announcing a mixed Q4 and plams to close up to 140 stores. The Royal Bank of Scotland Group plc (RBS) reported a 2016 loss and is down nearly 4.5%.

A leading bullish HLF swing trade strategy is: When the 17 SMA is Below the 23 SMA AND the 13 Day Stochastics is Bearish, daily bars.

AAPL dropped from 137 and then floated above the mid-136 line yesterday, ending down 42% on light volume. AAPL opened up at 137.38 to high volume and dipped to an intra-day low of 136.30 on mild volume before bouncing back into the mid to upper-136 area and holding a narrow range until after 3pm. AAPL dipped towards the lows in the last 30 minutes and then bounced to mid-136 into the close on moderate volume. AAPL ended the day down 58 cents at 136.53 and dropped 8 more cents in after-hours to 136.45.

This morning in pre-market, AAPL opened lower in conjunction with Futures and dipped sharply to a pre-market low of 134.62 later inthe morning as reports of an iPhone 7 Plus caught fire "circulated". AAPL is currently down $1.09 at 135.44 as we approach the open.

Classic max-pain is 135. Today is OPEX. Have a good weekend with your friends and family.


Dow on track to break 10-day record run:
http://in.reuters.com/article/usa-stocks-idINKBN1631N5

Sales of new US homes in January were slower than forecast:
https://www.bloomberg.com/news/articles/2017-02-24/sales-of-new-u-s-homes-in-january-were-slower-than-forecast

The price of Bitcoin just hit an all-time high:
https://techcrunch.com/2017/02/23/the-price-of-bitcoin-just-hit-an-all-time-high/

China is now Germany's largest trading partner:
https://qz.com/918533/the-new-world-order-china-is-now-germanys-largest-trading-partner/

J.C. Penney to close up to 140 stores, offer buyouts:
http://www.usatoday.com/story/money/2017/02/24/jc-penney-store-closures/98344540/

China is now Germany’s largest trading partner:
http://www.bbc.com/news/business-39074815

Google spin-off sues Uber, claims key designs were stolen:
http://www.npr.org/sections/thetwo-way/2017/02/24/517027719/google-spin-off-sues-uber-saying-leader-of-autonomous-vehicle-unit-stole-key-des

Founder of India's $4 smartphone firm arrested on allegations of fraud:
http://in.reuters.com/article/ringing-bells-founder-arrests-idINKBN163123

Apple begins investigation after exploding iPhone goes viral:
http://www.popularmechanics.com/technology/gadgets/a25384/iphone-battery-explosion-iphone/

Apple says iOS 10.2.1 mostly fixes unexpected shutdowns in the iPhone 6, 6S:
https://arstechnica.com/apple/2017/02/apple-says-ios-10-2-1-mostly-fixes-unexpected-shutdowns-in-the-iphone-6-6s/

A world free of charging cables:
https://www.cnet.com/news/wireless-charging-apple-iphone-8-samsung-wpc-qi-powermat/

Trucks get auto-pilot:
http://www.usatoday.com/story/tech/news/2017/02/24/meet-21-year-old-self-driving-truck-startup-founder/98313844/

Cloudflare bug data leak exposed:
http://www.bbc.com/news/technology-39077611

YouTube takes down giraffe birth for nudity:
https://www.cnet.com/news/youtube-takes-down-giraffe-birth-for-nudity/

Twinkle, twinkle little Trappist:
https://www.nytimes.com/2017/02/24/opinion/twinkle-twinkle-little-trappist.html

46 years later, Apollo 11 hits the road again:
http://www.csmonitor.com/Science/Spacebound/2017/0223/46-years-later-Apollo-11-hits-the-road-again

Bees learn to play golf:
https://www.newscientist.com/article/2122383-bees-learn-to-play-golf-and-show-off-how-clever-they-really-are/

We can refreeze the icecaps to slow global warming... for only $500 billion:
http://www.techtimes.com/articles/198463/20170223/saving-sea-ice-from-global-warming-500-billion-geoengineering-project-is-on.htm

How ancient Neanderthal DNA influences our modern genes:
http://www.smithsonianmag.com/science-nature/how-ancient-neanderthal-dna-still-influences-our-genes-today-180962285/

Deadly drug overdoses more than doubled since 1999:
http://www.usatoday.com/story/news/nation-now/2017/02/24/deadly-drug-overdoses-more-than-doubled-since-1999/98345458/

Fasting diet "regenerates diabetic pancreas":
http://www.bbc.com/news/health-39070183

To gym or not to gym?
http://time.com/4681843/workout-intensity-lower-libido/


Today's Economic Calendar:
10:00 New Home Sales
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count


Notable earnings on Monday before the open: NGHC, AIMC, AES, EMES, SSL, APTS, PNLYY, CMTOY

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