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Apple Today 3/29/2017 (AAPL)

seymour_greenz • March 29th 2017 11:38:29 AM

Good Morning,

S&P Futures are up 2 with -2 Fair Value, NASDAQ Futures are up 8 with +3 Fair Value and Dow Futures are up 4 as we hit mid-week and Brexit officially begins the 2-year process of exiting the European Union. Global markets were on the rise this morning but have since soured. It's Samsung's big day as the Galaxy S8 is to be released at 11am and is expected to feature a sleek new redesign. After scraping 2-month lows earlier this week, Bitcoin is currently range-bound in the 1050-area.

This morning's Economic Calendar includes: MBA Mortgage Applications, Fed's Evans speech, Pending Home Sales, EIA Petroleum Inventories, Fed's Rosengren: Economic Outlook and Results of $15B, 2-Year FRN Auction followed by Results of $28B, 7-Year Note Auction this afternoon.

The earnings winner is: RH (RH), up nearly 16.5%.

On the other hand, Dave & Buster's Entertainment, Inc. (PLAY) is down over 2.5%.

Futures were up in early morning, peaked shortly after 3:30am and then slipped sharply into negative territory by 6:40am and bounced off the lows as we approach the open.

Asian markets ended mixed. China went down 0.36%, Hong Kong gained 0.19% and Japan went up 0.08%. European markets are mixed. The UK is down 0.14%, Germany is up 0.49% and France is up 0.21%.

Commodities are mixed this morning. Oil is up 0.35%, natural gas is up 1.01% and gold is down 0.24%. Unleaded gas is up 0.70% and heating oil is up 0.74%. Metals are down except platinum. Meats are mixed. Corn, wheat and soybeans are up while cocoa, coffee and cotton are down.

Pending home sales surge to 10-month high.

Dave & Buster's Entertainment, Inc. (PLAY), reported Q4 results yesterday afternoon with profit of 63 cents that beat expectations and is down over 2.5% in pre-market. RH (RH) is up nearly 16.5% after announcing Q4 results that beat expectations. Sonic Corp. (SONC).reported Q2 results with adjusted earnings of 15 cents per share that met expectations and down over 1%.

Paychex, Inc. (PAYX) reported Q3 results this morning with adjusted earnings of 65 cents per share that beat expectations and is up nearly 0.5% in pre-market.

This afternoon after the bell, look out for earnings from Lululemon Athletica Inc. (LULU).

A leading Bullish LULU trade strategy is: When the 20 SMA is Above the 21 EMA AND the 21 Day Smoothed Stochastics is Bullish, daily bars.

AAPL shot up like a rocket yesterday, ending up 2.05% on higher than average volume. AAPL opened at 140.91 to high volume and immediately set an intra-day low of 140.62 on high volume before firing up consistently through the entire day to cross the 144-line and set an intra-day high of 144.04 at 3:05 on moderate volume before dipping slightly into the close on strong volume. AAPL ended the day up 24 cents at 143.80 and dropped 10 cents in after-hours to 143.70.

This morning in pre-market, AAPL picked up with yesterday's close and drifted lower alongside Futures and a Downgrade by Vetr Inc to Hold with a $147.61 target. AAPL scraped a pre-market low of 143.38 at 5:52am and is currently down 25 cents at 143.55 as we approach the open.

Classic max-pain is 141.


Pending home sales surge to 10-month high:
http://www.reuters.com/article/us-usa-economy-idUSKBN1701XS

House votes to let ISPs sell your browsing history:
http://www.upi.com/Top_News/US/2017/03/28/House-votes-to-let-ISPs-sell-customers-browsing-history/3681490739604/

Wells Fargo customers in $110 million settlement over fake accounts:
http://money.cnn.com/2017/03/29/investing/wells-fargo-settles-fake-account-lawsuit-110-million/

Apple is upgrading millions of iOS devices to a new modern file system today:
http://www.theverge.com/2017/3/27/15076244/apple-file-system-apfs-ios-10-3-features

This is the Samsung Galaxy S8, coming April 21st:
http://www.theverge.com/2017/3/29/15087530/samsung-galaxy-s8-announced-features-release-date-video-specifications

Facebook pivots into Stories:
https://techcrunch.com/2017/03/28/storybook/

Google Home welcomes 12 new partners in big smart home update:
https://www.cnet.com/news/google-home-gets-new-partners-in-its-first-big-smart-home-update/

Intel insists Moore's Law isn't dead:
http://fortune.com/2017/03/28/intel-keeps-insisting-moores-law-isnt-dead/

Titan is covered by electrically charged sand grains, experiments suggest:
http://www.upi.com/Science_News/2017/03/27/Titan-is-covered-by-electrically-charged-sand-grains-experiments-suggest/4471490641929/

Details about how NASA plans to get to Mars:
https://arstechnica.co.uk/science/2017/03/for-the-first-time-nasa-has-begun-detailing-its-deep-space-exploration-plans/

This seems like a very bad idea:
http://www.newsweek.com/new-york-firm-launches-daring-plan-hang-first-skyscraper-asteroid-575565

Tasmanian tiger sightings prompt scientists to search for extinct marsupial in Australia:
http://www.techtimes.com/articles/203433/20170329/tasmanian-tiger-sightings-prompt-scientists-to-search-for-extinct-marsupial-in-australia.htm

How we got our big brains:
http://www.thehindu.com/todays-paper/tp-national/how-primates-got-big-brains/article17716919.ece

Court declares Sprite and Fanta "poisonous":
http://www.independent.co.uk/news/business/news/coca-cola-poisonous-spirit-fanta-court-nigeria-nigerian-bottling-company-vitamin-c-health-warnings-a7655766.html


Today's Economic Calendar:
7:00 MBA Mortgage Applications
9:20 Fed's Evans speech
10:00 Pending Home Sales
10:30 EIA Petroleum Inventories
11:30 Fed's Rosengren: Economic Outlook
11:30 Results of $15B, 2-Year FRN Auction
1:00 PM Results of $28B, 7-Year Note Auction


Notable earnings this afternoon after the bell: FUL, SIGM, KGJI, MBII, PRGS, CRTN, GEVO, VRML, *LULU*, EXFO

And tomorrow before the open: SNAK, NBGIF, SGLB, ZX, IDN, LIQT, WOR, ROSG, SAIC, LNN, NDRM, ANGO, TITN, CAAS, SMTGF, YGYI, BDMS, CDTI, DBEXF, AFMD, ALBKF, ALDX, PTNR, DVMT, NOMD, VSTE

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