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Apple Today 4/13/2017 OPEX (AAPL)

seymour_greenz • April 13th 2017 12:15:42 PM

Good Morning,

S&P Futures are down 5 with -6 Fair Value, NASDAQ Futures are down 6 with -10 Fair Value and Dow Futures are down 25 as we wrap up a short week ahead of Good Friday tomorrow. Despite being OPEX, a number of bank stocks are reporting earnings today, including JPMorgan (JPM), Wells Fargo (WFC) and Citigroup (C). Techwise, Burger King has gotten flamed over a new commercial that intentionally triggers the viewer's voice-controlled Google speakers. Bitcoin suddenly dipped sharply to sub-1,200 levels earlier this morning and is currently recovering near 1,200.

This morning's Economic Calendar includes: Initial Jobless Claims, Producer Price Index, Bloomberg Consumer Comfort Index, Consumer Sentiment, EIA Natural Gas Inventory and Baker-Hughes Rig Count followed by Fed Balance Sheet and Money Supply this afternoon.

The earnings winner is JPMorgan Chase & Co. (JPM), up nearly 0.5%. On the other hand, Infosys Limited, Inc. (INFY) is down nearly 4% and Wells Fargo & Co. (WFC) is down nearly 2.5%.

Futures were flat in early morning, turned positive at 1am, peaked around 1:30am and slipped shortly after, dipping to lows shortly after 6:30am and are off the lows as we approach the open.

Asian markets ended mostly down. China went up 0.07%, Hong Kong went down 0.21% and Japan dropped 0.68%. European markets are down. The UK is down 0.59%, Germany is down 0.36% and France is leading the decline, down 0.61%.

Commodities are mixed this morning. Oil is up 0.19%, natural gas is down 0.85% and gold is up 0.81%. Unleaded gas is up 0.01% and heating oil is up 0.04%. Metals are up. Meats are mixed. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.

Dollar rises after earlier slide. US weekly jobless claims point to tightening labor market. US producer prices decline for 1st time since August 2016. China's economic picture brightens as trade beats forecasts.

Pier 1 Imports Inc. (PIR). reported Q4 results yesterday afternoon with adjusted earnngs of 34 cents per share that beat expectations and is down nearly 3% in pre-market.

JPMorgan Chase & Co. (JPM) announced Q1 results that beat expectations and is up nearly 0.5% in pre-market. Taiwan Semiconductor Manufacturing Company Ltd. (TSM) reported Q1 results with net income of 54 cents per share and is down nearly 1%. Wells Fargo & Co. (WFC), announced Q1 results with mixed results and is down nearly 2.5%. Citigroup Inc. (C), reported Q1 results with earnings of $1.35 per share that beat expectations and is up slightly. First Horizon National Corporation (FHN) announced Q1 results with earnings of 23 cents per share and is down over 1.5%. Infosys Limited, Inc. (INFY) reported Q4 results with earnings of 24 cents per share that met expectations and is down nearly 4%.

A leading Bullish C trade strategy is: When the 13 SMA is Below the 28 SMA AND the 20 Day Smoothed Stochastics is Bullish, daily bars.

AAPL went fishing below the 141.5 water line... ending up 0.12% on lower than average volume. AAPL opened at 141.60 to high volume and quickly popped up above 142 to an intra-day high of 142.15 on strong volume before slipping to an intra-day low of 141.01 at 12:58pm as lunch wrapped up. AAPL subsequently tugged back to the mid-141 area sharply on moderate volume and saw the upper-141 area before dipping into the low-141 zone ahead of 3pm on low volume and bouncing back into the close on strong volume. AAPL ended the day up 17 cents at 141.80 and gained 14 more cents in after-hours to 141.94.

This morning in pre-market, AAPL opened lower and scraped a pre-market low of 141.42, then bounced back after Macquarie maintained AAPL coverage with Outperform and a $156 target. AAPL is currently down 11 cents at 141.69 as we approach the open.

Classic max-pain is 142. Today is OPEX. Tomorrow is Good Friday, a stock market holiday. Have a good weekend with your friends and family.

You can check for market holidays at: http://www.holidayornot.com/


Dollar rises after earlier slide:
http://www.reuters.com/article/uk-global-forex-idUSKBN17F00Y

US weekly jobless claims point to tightening labor market:
http://www.reuters.com/article/us-usa-economy-idUSKBN17F1JB

US producer prices decline for 1st time since August 2016:
https://www.bloomberg.com/news/articles/2017-04-13/u-s-producer-prices-decline-for-first-time-since-august-2016

China's economic picture brightens as trade beats forecasts:
http://www.reuters.com/article/us-china-economy-trade-idUSKBN17F0CV?il=0

Oil demand growth slows for 2nd year:
http://www.bbc.co.uk/news/business-39588363

JPMorgan profit tops analyst expectations on trading surge:
http://www.reuters.com/article/us-jpmorgan-results-idUSKBN17F1B4

Citigroup profit rises on stronger bond trading:
http://fortune.com/2017/04/13/citigroup-profit-rises-on-stronger-bond-trading/

Apple is reportedly working on sensors for diabetes treatment:
http://www.theverge.com/2017/4/12/15282270/apple-diabetes-sensors-blood-sugar

Purported iPhone 8 schematics show bezel-less front, rear Touch ID, same thinness as iPhone 7:
https://9to5mac.com/2017/04/13/purported-iphone-8-schematics-show-bezel-less-front-rear-touch-id-same-thinness-as-iphone-7/

Samsung is building a foldable smartphone:
http://www.newsweek.com/samsung-foldable-smartphone-583565

Amazon ramps up smart speakers battle against Google:
http://www.bbc.com/news/technology-39589233

Instagram Stories is now more popular than the app it was designed to kill:
http://www.theverge.com/2017/4/13/15279266/instagram-stories-facebook-200-million-users-snapchat-clone

Burger King "OK Google" ad doesn't seem OK with Google:
https://www.nytimes.com/2017/04/12/business/burger-king-tv-ad-google-home.html

Watch NASA's ocean worlds announcement live stream at 2PM ET:
http://www.theverge.com/2017/4/13/15279174/nasa-tv-live-stream-ocean-worlds-cassini-saturn-hubble-start-time

Astronomers may finally have the 1st picture of a black hole:
http://news.nationalgeographic.com/2017/04/black-hole-event-horizon-telescope-pictures-genius-science/

A dark matter "bridge" holding galaxies together has been captured for the 1st time:
http://www.wired.co.uk/article/dark-matter-bridge

This termite-hunting ant rescues its injured friends to benefit the whole colony:
http://www.theverge.com/2017/4/12/15257672/termite-hunting-ants-rescue-behavior-evolution

This ancient dinosaur relative looks surprisingly like a crocodile:
http://www.popsci.com/early-dinosaur-relative-crocodile

Trans Fat ban tied to fewer heart attacks and strokes:
http://www.livescience.com/58666-trans-fat-ban-linked-to-drop-in-heart-attacks-strokes.html

The same things that can tank your heart now may wreck your brain later:
http://www.menshealth.com/health/heart-risk-factors-and-alzheimers

New giraffe baby will tide you over until April gives birth:
https://www.cnet.com/news/giraffe-baby-memphis-zoo-april-birth/
https://www.youtube.com/watch?v=fp-G2-DAXYU


Today's Economic Calendar:
8:30 Initial Jobless Claims
8:30 Producer Price Index
9:45 Bloomberg Consumer Comfort Index
10:00 Consumer Sentiment
10:30 EIA Natural Gas Inventory
1:00 PM Baker-Hughes Rig Count
4:30 PM Money Supply
4:30 PM Fed Balance Sheet


Notable earnings this afternoon after the bell: JRJC, SENR, ENCR

And on Monday before the open: MTB

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