Financial Tides -- A Stock Market Investing Newsletter by Jim Van Meerten: SBNY

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Tuesday, June 21, 2016

MORNING CALL 6/21

Tuesday, June 21st, 2016View Older Reports

Everything you need to know about the markets in one free daily newsletter.

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

Sep E-mini S&Ps (ESU16 +0.47%) are up +0.48% and European stocks are up +0.83% at a 1-week high ahead of this morning's testimony to the Senate Banking Committee by Fed Chair Yellen and by a speech to the European Parliament by ECB President Draghi. European stocks also received a boost from an unexpected jump in the German Jun ZEW survey expectations of economic growth to a 10-month high. The British pound climbed to a 5-1/2 month high against the dollar as polls show the UK campaign to remain in the European Union are gaining ground before Thursday's referendum. Asian stocks settled mixed: Japan +1.28%, Hong Kong +0.77%, China -0.35%, Taiwan +0.68%, Australia +0.33%, Singapore -0.41%, South Korea +0.07%, India -0.20%. Japan's Nikkei Stock Index moved up to a 1-week high as exporters rallied after USD/JPY strengthened.

The dollar index (DXY00 +0.02%) is down -0.05% at a 1-1/2 month low. EUR/USD (^EURUSD) is up +0.01%. USD/JPY (^USDJPY) is up +0.67%.

Sep T-note prices (ZNU16 -0.12%) are down -3 ticks.

The German Jun ZEW survey expectations of economic growth unexpectedly rose +12.8 to 19.2, stronger than expectations of -1.6 to 4.8 and the highest in 10 months.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Fed Chair Janet Yellen testifies on monetary policy to the Senate Banking Committee, and (2) the Treasury's auction of $34 billion of 5-year T-notes.

There are 5 of the Russell 1000 companies that report earnings today: FedEx (consensus $3.28), Lennar (0.87), CarMax (0.92), Adobe (0.68), Carnival (0.39).

U.S. IPO's scheduled to price today: Selecta Biosciences (SELB), Tactile Systems Technology (TCMD)

Equity conferences this week include: Questex Sensors Expo & Conference on Tue, Real Estate Investment World Asia 2016 on Tue, Wells Fargo Convergence & Connectivity Symposium on Tue, Jefferies Consumer Conference on Tue-Wed, Wells Fargo West Coast Energy Conference on Tue-Wed, Panagora Pharma - Mobile Pharma Summit on Tue-Wed, Bernstein Global Future of Media & Telecommunications Summit on Wed, Oppenheimer Global Consumer Conference on Wed, Citigroup Insurance Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Signature Bank/New York (SBNY +0.95%) was upgraded to 'Strong Buy' from 'Outperform' at Raymond James with a 12-month price target of $162.

Abbott Laboratories (ABT +0.96%) was upgraded to 'Buy' from 'Hold' at Edward Jones.

Imperva (IMPV +0.27%) rallied over 9% in after-hours trading after Elliott Associates disclosed a 9.8% stake in Imperva and said it began a dialogue with management and board regarding strategic and operational opportunities.

Knight Transportation (KNX +3.53%) was downgraded to 'Neutral' from 'Buy' at Bank of America/Merrill Lynch.

Prologis (PLD +0.06%) was downgraded to 'Hold' from 'Buy' at Deutsche Bank.

Kirby Corp. (KEX +0.90%) was downgraded to 'Neutral' from 'Outperform' at Credit Suisse.

CNOOC Ltd. (CEO +2.55%) was upgraded to 'Buy' from 'Neutral' at UBS.

Paratek Pharmaceuticals (PRTK -2.59%) slid over 2% in after-hours trading after it proposed an offering of 3.75 million shares of common stock.

Sunrun (RUN +2.66%) gained over 1% in after-hours trading after it was rated a new 'Outperform' at Oppenheimer,

American Superconductor (AMSC +1.21%) was rated a new 'Outperform' at Oppenheimer with an 18-month price target of $12.

Opko Health (OPK +1.55%) rose nearly 4% in after-hours trading after a FDA approved-drugs website indicated approval for Opko's Rayaldee drug came on June 17.

Werner (WERN +1.36%) dropped over 9% in after-hours trading after it warned that Q2 EPS may be only 21 cents-35 cents, below consensus of 40 cents, due to "sluggish" freight market conditions, driver pay and contractor cost increases.

Scynexis (SCYX +6.85%) tumbled over 11% in after-hours trading after it announced it will launch a public offering of common stock and warrants.

MARKET COMMENTS

September E-mini S&Ps (ESU16 +0.47%) this morning are up +10.00 points (+0.48%). Monday's closes: S&P 500 +0.58%, Dow Jones +0.73%, Nasdaq +0.59%. The S&P 500 on Monday rallied to a 1-week high and closed higher on carryover support from a sharp rally in European stocks as Brexit concerns eased after the latest polls showed that Britons will vote to remain in the European Union at Thursday's referendum. Stocks were also boosted by strength in mining stocks and energy producers after copper rallied +2.1% and the price of crude oil climbed 2.9% to a 1-week high.

Sep 10-year T-note prices (ZNU16 -0.12%) this morning are down -3 ticks. Monday's closes: TYU6 -1300, FVU6 -6.25. Sep T-notes gapped lower Monday to a 1-week low and closed lower on reduced safe-haven demand for T-notes as stocks rallied sharply as the latest polls showed Britons favored remaining in the EU. T-notes were also undercut by slack demand for the Treasury's $26 billion 2-year T-note auction that had a 2.72 bid-to-cover ratio, below the 12-auction average of 3.01.

The dollar index (DXY00 +0.02%) this morning is down -0.046 (-0.05%) at a 1-1/2 month low. EUR/USD (^EURUSD) is up +0.0001 (+0.01%). USD/JPY (^USDJPY) is up +0.70 (+0.67%). Monday's closes: Dollar Index -0.595 (-0.63%), EUR/USD +0.0037 (+0.33%), USD/JPY -0.22 (-0.21%). The dollar index on Monday fell to a 1-week low and closed lower on an easing of Brexit concerns, which lifted EUR/USD to a 1-week high and GBP/USD to a 2-1/2 week high. The dollar index was also undercut by cautiousness ahead of Tuesday's testimony by Fed Chair Yellen to the Senate Banking Committee on monetary policy.

July WTI crude oil (CLN16 -1.13%) this morning is down -54 cents (-1.09%). July gasoline (RBN16 -1.60%) is down -0.0227 (-1.43%). Monday's closes: CLN6 +1.39 (+2.90%), RBN6 +0.0774 (+5.14%). Jul crude oil and gasoline on Monday rallied to 1-week highs and closed higher. Crude oil prices were boosted by the fall in the dollar index to a 1-week low and a report by the Joint Organizations Data Initiative saying that Saudi Arabian Apr crude exports fell to a 6-month low of 7.44 million bpd.

GLOBAL EVENT CALENDAR06/21/2016

		Tuesday, June 21, 2016
US	1000 ET	Fed Chair Janet Yellen testifies on monetary policy to the Senate Banking Committee.
	1300 ET	Treasury auctions $34 billion of 5-year T-notes.
		Wednesday, June 22, 2016
US	0700 ET	Weekly MBA mortgage applications, previous -2.4% with purchase sub-index -4.9% and refi sub-index -0.7%.
	0900 ET	Apr FHFA house price index expected +0.6%, Mar +0.7% m/m.
	1000 ET	Fed Chair Janet Yellen testifies on monetary policy to the House Financial Services Committee.
	1000 ET	May existing home sales expected +1.8% to 5.55 million, Apr +1.7% m/m to 5.45 million.
	1030 ET	EIA Weekly Petroleum Status Report.
	1130 ET	Treasury auctions $13 billion of 2-year floating rate notes.
	1230 ET	Treasury auctions $28 billion of 7-year T-notes.
	1300 ET	Treasury auctions $5 billion of 30-year TIPS.
EUR	1000 ET	Eurozone Jun consumer confidence expected unch at -7.0, May +2.3 to -7.0.
JPN	2200 ET	Japan Jun Nikkei manufacturing PMI, May -0.5 to 47.7.

U.S. STOCK CALENDAR06/21/2016

Company	Ticker	Time	Event Description	Period	Estimate
QIAGEN NV	QGEN US	4:30	Annual General Meeting	Y 2016
Lennar Corp	LEN US	Bef-mkt	Q2 2016 Earnings Release	Q2 2016	0.872
CarMax Inc	KMX US	7:00	Q1 2017 Earnings Release	Q1 2017	0.923
CarMax Inc	KMX US	9:00	Q1 2017 Earnings Call	C1 2017
CarMax Inc	KMX US	9:00	Q1 2017 Earnings Call	Q1 2017
Nielsen Holdings PLC	NLSN US	9:00	Annual General Meeting	Y 2015
Ingram Micro Inc	IM US	10:00	Special Meeting - M&A Vote
United Continental Holdings Inc	UAL US	10:00	Business Update Call
Lennar Corp	LEN US	11:00	Q2 2016 Earnings Call	Q2 2016
Varian Medical Systems Inc	VAR US	12:00	Investor Day	Y 2016
NetSuite Inc	N US	12:00	Annual General Meeting
FedEx Corp	FDX US	16:15	Q4 2016 Earnings Release	Q4 2016	3.282
FedEx Corp	FDX US	17:00	Q4 2016 Earnings Call	Q4 2016
Adobe Systems Inc	ADBE US	17:00	Q2 2016 Earnings Call	Q2 2016
Adobe Systems Inc	ADBE US	Aft-mkt	Q2 2016 Earnings Release	Q2 2016	0.68
Carnival Corp	CCL US		Q2 2016 Earnings Release	Q2 2016	0.386
United Therapeutics Corp	UTHR US		Annual General Meeting
GameStop Corp	GME US		Annual General Meeting
Agios Pharmaceuticals Inc	AGIO US		Annual General Meeting

Tuesday, May 31, 2016

MORNING CALL 5/31

MORNING CALL

Tuesday, May 31st, 2016View Older Reports

Everything you need to know about the markets in one free daily newsletter.

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 +0.11%)are up +0.04% at a 1-1/4 month high on optimism that a strengthening U.S. economy could handle another 25 bp rate hike from the Fed. Fed Chair Yellen said Friday afternoon that an improving economy would probably warrant another rate increase "in the coming months." Strength in crude oil prices is lifting energy producers, while European stocks are down -0.33% as automakers declined after Volkswagen dropped over 3% when it reported an 86% plunge in quarterly profit due to its emissions-cheating scandal. European stocks were also undercut after an unexpected decline in German Apr retail sales. Asian stocks settled mostly higher: Japan +0.98%, Hong Kong +0.90%, China +3.34%, Taiwan unch, Australia -0.54%, Singapore -0.20%, South Korea +0.79%, India -0.22%. China's Shanghai Composite climbed to a 3-week high after Goldman Sachs said that it was likely that the stocks in the Shanghai Composite would be included in MSCI Inc.'s global benchmark indexes. Japan's Nikkei Stock Index rose to a 1-month high on optimism the Japanese government will delay an increase in the sales tax after senior officials from Prime Minister Abe's ruling party and its coalition partner said that Prime Minister Abe wants to put off a planned national sale tax increase for 2-1/2 years.

The dollar index (DXY00 -0.01%) is up +0.09%. EUR/USD (^EURUSD) is up +0.13%. USD/JPY (^USDJPY) is down -0.04%.

Jun T-note prices (ZNM16 -0.24%) are down -12.5 ticks.

German Apr retail sales unexpectedly fell -0.9% m/m, weaker than expectations of +0.9% m/m.

The Eurozone May CPI estimate fell -0.1% y/y, right on expectations. The May core CPI rose +0.8% y/y, right on expectations.

The Eurozone Apr unemployment rate was unch at 10.2%, right on expectations.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Apr personal spending (expected +0.7%, Mar +0.1%) and Apr personal income (expected +0.4%, Mar +0.4%), (2) Apr PCE deflator expected (+0.3% m/m and +1.1% y/y, Mar +0.1% m/m and +0.8% y/y) and Apr core PCE deflator (expected +0.2% m/m and +1.6% y/y, Mar +0.2% m/m and +1.6% y/y), (3) S&P/CaseShiller composite-20 home price index (expected +0.7% m/m and +5.06% y/y, Feb +0.66% m/m and +5.38% y/y), (4) May Chicago PMI (expected +0.1 to 50.5, Apr -3.2 to 50.4), (5) May Conference Board U.S. consumer confidence (expected +2.1 to 96.3, Apr-1.9 to 94.2), (6) May Dallas Fed manufacturing activity (expected +5.9 to -8.0, Apr -13.9), (7) USDA weekly grain export inspections, and (8) USDA Weekly Crop Progress.

There are 3 of the Russell 1000 companies that report earnings today: Golar LNG (consensus -$0.42), Medtronic (1.26), Workday (-0.02).

U.S. IPO's scheduled to price today: Cancer Preventation Pharmaceuticals (CPP).

Equity conferences this week include: Deutsche Bank Global Financial Services Investor Conference on Tue-Wed, BMO Capital Markets Energy & Power Conference on Wed, D. A. Davidson & Co Technology Forum on Wed, Stifel Dental & Veterinary Conference on Wed, Bank of America Merrill Lynch Global Technology Conference on Wed-Thu, Cowen and Company Technology, Media & Telecom Conference on Wed-Thu, RBC Capital Markets Consumer & Retail Conference on Wed-Thu, Bernstein Strategic Decisions Conference on Wed-Fri, Credit Suisse Engineering & Construction Conference on Thu, Keefe, Bruyette & Woods Asset Management Conference on Thu, American Society of Clinical Oncology (ASCO) Meeting on Fri.

OVERNIGHT U.S. STOCK MOVERS

Celator Pharmaceuticals (CPXX +0.17%) soared over 70% in pre-market trading after it agreed to a $1.5 billion takeover offer from Jazz Pharmaceuticals.

Lockheed Martin (LMT -0.60%) was downgraded to 'Hold' from 'Buy' at Berenberg.

Marathon Oil (MRO -2.05%) was upgraded to 'Overweight' from 'Neutral' at Piper Jaffray.

Deere & Co. (DE +0.29%) was upgraded to 'Buy' from 'Neutral' at UBS with a 12-month price target of $94.

Micron (MU +3.01%) was upgraded to 'Outperform' from 'Neutral' at Robert Baird.

Dril-Quip (DRQ +1.12%) was upgraded to 'Buy' from 'Accumulate' at KLR Group with a price target of $70.

Signature Bank/New York (SBNY +0.85%) was downgraded to 'Neutral' from 'Overweight' at Piper Jaffray with a 12-month price target of $146.

TransDigm Group (TDG +0.47%) jumped 4% in after-hours trading after it was announced that it will replace Baxalta in the S&P 500 after the close of trading Thursday, June 2.

Brocade (BRCD +0.23%) rose 3% in after-hours trading after it was announced that it will replace MDC Holdings in the MidCap 400 after the close of trading on Tuesday, May 31.

The FDA approved Zinbryta, made by Biogen (BIIB +0.28%) and Abbvie (ABBV +1.31%) , for the treatment of adults with relapsing forms of multiple sclerosis.

Reuters reports that Williams Cos (WMB +3.22%) has informed Energy Transfer Equity ETE that it is open to considering a new offer that would replace the $6 billion portion of the deal with shares in the acquisition vehicle that Energy Transfer will create.

Osiris Therapeutics (OSIR +1.43%) slumped 10% in after-hours trading after it said a criminal probe against the company was started by the U.S. Attorney's Office for the Southern District of New York.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.11%) this morning up +0.75 of a point (+0.04%) at a 1-1/4 month high. Friday's closes: S&P 500 +0.43%, Dow Jones +0.25%, Nasdaq +0.55%. The S&P 500 Friday rallied to a 1-1/4 month high and closed higher on the upward revision to U.S. Q1 GDP to +0.8% from +0.5% and on optimism that the U.S. economy is strong enough to handle further Fed rate hikes. Stocks were undercut by the -1.1 point decline in final-May University of Michigan U.S. consumer sentiment index to 94.7, weaker than expectations of -0.4 to 95.4.

June 10-year T-note prices (ZNM16 -0.24%) this morning are down -12.5 ticks. Friday's closes: TYM6 -3.50, FVM6 -3.00. Jun T-notes on Friday closed lower on the upward revision to U.S. Q1 GDP to +0.8% from +0.5%, hawkish comments from Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate," and reduced safe-haven demand with the rally in stocks.

The dollar index (DXY00 -0.01%) this morning is up +0.085 (+0.09%). EUR/USD (^EURUSD) is up +0.0014 (+0.13%). USD/JPY (^USDJPY) is down-0.05 (-0.04%). Friday's closes: Dollar Index +0.353 (+0.37%), EUR/USD -0.0079 (-0.71%), USD/JPY +0.55 (+0.50%). The dollar index on Friday rallied to a 2-month high and closed higher on the upward revision in U.S. Q1 GDP to +0.8% from +0.5% and hawkish comments from Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate." The dollar was also boosted by weakness in EUR/USD which tumbled to a 2-1/2 month low on divergent central bank policies with the Fed expected to further tighten monetary policy while the ECB maintains or even expands its monetary policy.

July WTI crude oil (CLN16 +0.47%) this morning is up +14 cents (+0.28%). July gasoline (RBN16 -0.90%) is down -0.0192 (-1.17%). Friday's closes: CLN6 -0.15 (-0.30%), RBN6 +0.0111 (+0.68%). July crude oil and gasoline prices on Friday settled mixed as July gasoline rebounded from a 1-week low. Crude oil prices were undercut by the rally in the dollar index to a 2-month high and by the restart of oil-sands facilities in Alberta as wildfire risks abated. Gasoline prices were boosted by signs of stronger demand as the AAA estimates that 38 million Americans will travel 50 miles or more this Memorial holiday weekend, up +2.2% y/y and the second-highest ever.

GLOBAL EVENT CALENDAR05/31/2016

US	0830 ET	Apr personal spending expected +0.7%, Mar +0.1%. Apr personal income expected +0.4%, Mar +0.4%.
	0830 ET	Apr PCE deflator expected +0.3% m/m and +1.1% y/y, Mar +0.1% m/m and +0.8% y/y. Apr core PCE deflator expected +0.2% m/m and +1.6% y/y, Mar +0.2% m/m and +1.6% y/y.
	0900 ET	Mar S&P/CaseShiller composite-20 home price index expected +0.7% m/m and +5.06% y/y, Feb +0.66% m/m and +5.38% y/y.
	0945 ET	May Chicago PMI expected +0.1 to 50.5, Apr -3.2 to 50.4.
	1000 ET	May U.S. consumer confidence (Conference Board) expected +2.1 to 96.3, Apr -1.9 to 94.2.
	1030 ET	May Dallas Fed manufacturing activity expected +5.9 to -8.0, Apr -13.9.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA Weekly Crop Progress.
JPN	0000 ET	Japan Apr vehicle production, Mar +1.2% y/y.
	0100 ET	Japan Apr housing starts expected +4.0% to 950,000 annualized, Mar +8.4% y/y to 993,000 annualized.
	0100 ET	Japan Apr construction orders, Mar +19.8% y/y.
	1950 ET	Japan Q1 capital spending expected +1.9% y/y, Q4 +8.5% y/y. Q1 capital spending ex software expected +4.1% y/y, Q4 +8.9% y/y.
	2200 ET	Revised Japan May Nikkei manufacturing PMI.
GER	0200 ET	German Apr retail sales expected +1.0% m/m and +1.9% y/y, Mar -1.4% m/m and +0.7% y/y.
	0355 ET	German May unemployment change expected -5,000, Apr -16,000. May unemployment rate, Apr 6.2%.
EUR	0400 ET	Eurozone Apr M3 money supply expected +5.0% y/y, Mar +5.0% y/y.
	0500 ET	Eurozone Apr unemployment rate expected unch at 10.2%, Mar -0.2 to 10.2%.
	0500 ET	Eurozone May CPI estimate expected -0.1% y/y, Apr -0.2% y/y. May core CPI expected +0.8% y/y, Apr +0.7% y/y.
UK	1901 ET	UK May BRC shop price index, Apr -1.7% y/y.
CHI	2100 ET	China May manufacturing PMI expected -0.1 to 50.0, Apr -0.1 to 50.1. May non-manufacturing PMI, Apr -0.3 to 53.5.
	2145 ET	China May Caixin manufacturing PMI expected -0.2 to 49.2, Apr -0.3 to 49.4.

U.S. STOCK CALENDAR05/31/2016

Company	Ticker	Time	Event Description	Period	Estimate
Golar LNG Ltd	GLNG US	Bef-mkt	Q1 2016 Earnings Release	Q1 2016	-0.424
Medtronic PLC	MDT US	6:45	Q4 2016 Earnings Release	Q4 2016	1.264
Medtronic PLC	MDT US	8:00	Q4 2016 Earnings Call	Q4 2016
Golar LNG Ltd	GLNG US	10:00	Q1 2016 Earnings Call	Q1 2016
Workday Inc	WDAY US	17:00	Q1 2017 Earnings Call	Q1 2017
Workday Inc	WDAY US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	-0.021
Henry Schein Inc	HSIC US		Annual General Meeting
Tesla Motors Inc	TSLA US		Annual General Meeting
Empire State Realty Trust Inc	ESRT US		Annual General Meeting

Tuesday, July 16, 2013

Financials Lead the MidCaps

Today I used Barchart to sort the S&P 400 Mid Cap Index to find the stocks with the best technical indicators and charts. In the sorted list the Financial sector continued to dominate. The list includes Bank of Hawaii (BOH), Webster Financial (WBS), Cathay General Bancorp (CATY), Bancosouth (BXS), and Signature Bank (SBNY):

Bank of Hawaii (BOH)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 11.45% in the last month
Relative Strength Index 69.82%
Barchart computes a technical support level at 53.85
Recently traded at 54.62 with a 50 day moving average of 50.57

Webster Financial (WBS)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 16.04% in the last month
Relative strength Index 72.93%
Barchart computes a technical support level at 26.82
Recently traded at 27.42 with a 50 day moving average of 24.49

Cathay General Bancorp (CATY)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 17.36% in the last month
Relative Strength Index 71.12%
Barchart computes a technical support level at 18.20
Recently traded at 23.01 with a 50 day moving average of 20.67

Bancosouth (BXS)

Barchart technical indicators:

72% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 an d100 day moving averages
15 new highs and up 14.02% in the last month
Relative strength Index 63.09%
Barchart computes a technical support level at 18.20
Recently traded at 18.73 with a 50 day moving average of 17.38

Signature Bank (SBNY)

Barchart technical indicators:

80% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
14 new highs and up 12.70% in the last month
Relative Strength Index 74.42%
Barchart computes a technical support level at 87.88
Recently traded at 89.09 with a 50 day moving average of 80.10

Tuesday, July 9, 2013

Financials lead the Mid Caps

Today I used Barchart to sort the S&P 400 Mid Cap Index for the stocks with the best technical indicators and charts. Just like yesterday, when I sorted the S&P 500 Large Cap Index the Financial Sector floated to the top of the list. The list today includes Signature Bank (SBNY), Washington Federal (WAFD), Hancock Holding Co (HBHC), Webster Financial (WBS) and East West Bancorp (EWBC):

Signature Bank (SBNY)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 15.59% in the last month
Relative Strength Index 79.81%
Barchart computes a technical support level at 86.87
Recently traded at 89.99 with a 50 day moving average of 78.43

Washington Federal (WAFD)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 21.01% in the last month
Relative Strength Index 86.27%
Barchart computes a technical support level at 20.25
Recently traded at 20.84 with a 50 day moving average of 17.72

Hancock Holding Co (HBHC)

Barchart technical indicators:

80% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 13.96% in the last month
Relative Strength Index 74.07%
Barchart computes a technical support level at 31.34
Recently traded at 31.97 with a 50 day moving average of 28.79

Webster Financial (WBS)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 13.92% in the last month
Relative Strength Index 78.38%
Barchart computes a technical support level at 26.27
Recently traded at 27.07 with a 50 day moving average of 24.09

East West Bancorp (EWBC)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
above its 20, 50 and 100 day moving averages
13 new highs and up 10.32% in the last month
Relative strength Index 81.25%
Barchart computes a technical support level at 28.30
Recently traded at 28.86 with a 50 day moving average of 26.12

Barchart Morning Call 7/9

BARCHART MORNING CALL

Tuesday, July 9th, 2013

View Older Reports

Everything you need to know about the markets in one free daily newsletter.

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU13 +0.35%) this morning are up +0.21% and European stocks are up +0.34%, both at 2-1/2 week highs. Asian stocks closed mostly higher: Japan +2.58%, Hong Kong +0.49%, China -0.04%, Taiwan +1.08%, Australia +1.50%, Singapore +0.73%, South Korea +0.77%, India +0.59%. Alcoa is up over 1% in pre-market trading after it reported better-than-expected earnings and fueled optimism for positive earnings results for stocks as Q2 earnings reporting season begins. The British pound slipped to a 3-3/4 month low against the dollar after UK May industrial production stagnated, which casts doubt on the strength of the recovery. Commodity prices are mixed. Aug crude oil (CLQ13 -0.15%) is down -0.14%. Aug gasoline (RBQ13 -0.01%) is down -0.04%, Aug gold (GCQ13 +1.04%) is up +1.06%, and Sep copper (HGU13 -1.53%) is down -1.42%. Agricultural and livestock prices are higher. The dollar index (DXY00 +0.12%) is up +0.16%$. EUR/USD (^EURUSD) is down -0.04% and USD/JPY is up +0.21%. September T-note prices (ZNU13 unch) are down -1 tick.
China Jun CPI rose +2.7% y/y, higher than expectations of +2.5% y/y, while the Jun PPI fell -2.7% y/y, the sixteenth straight month producer prices have fallen, and a bigger decline than expectations of -2.6% y/y.
Japan Jun machine tool orders fell -12.4% y/y, the fifteenth consecutive month the index has declined.
UK May industrial production was unchanged m/m and fell -2.3% y/y, weaker than expectations of +0.2% m/m and -1.5% y/y, and May manufacturing production unexpectedly fell -0.8% m/m and -2.9% y/y, weaker than expectations of +0.4% m/m and -1.6% y/y.
The UK Jun BRC retail sales like-for-like monitor increased +1.4% y/y, weaker than expectations of +1.9% y/y.
Latvia won final approval from European Union finance ministers to become the 18th country of the Eurozone and will start using the euro currency on Jan 1, 2014. The finance ministers set the conversion rate for the Latvian lats at 0.702904 per euro.

U.S. STOCK PREVIEW

The Treasury today will sell $32 billion in 3-year T-notes, kicking off this week $66 billion package of 3-year, 10-year and 30-year securities. There are no earnings reports today from any major companies. Conferences during the remainder of this week include: JMP Securities Healthcare Conference on Tuesday, Semiconductor Equipment & Materials International West Conference on Tuesday, 2013 Washington DC Health Care Conference on Wednesday, and Bloomberg's Mexico Conference on Wednesday.

OVERNIGHT U.S. STOCK MOVERS

Kroger (KR +0.33%) will acquire Harris Teeter (HTSI +0.10%) for $49.38 per share.
Sprint (S -1.26%) was upgraded to "Outperform" from "Market Perform" at Cowen.
Wells Fargo (WFC +1.81%) was downgraded to "Neutral" from "Positive" at Susquehanna.
IBM (IBM +0.03%) was downgraded to "Neutral" from "Buy" at Goldman who lowered their price target on the stock to $200 from $220.
Hewlett-Packard (HPQ -1.60%) was upgraded to "Buy" from "Hold" at Brean Capital with a price target of $32.
DuPont (DD +1.43%) was downgraded to "Neutral" from "Outperform" at Macquarie.
Signature Bank (SBNY +0.80%) was upgraded to "Outperform" from "Perform" at Oppenheimer who raised their price target on the stock to $100.
Barnes & Noble (BKS -0.11%) fell 4% in after-hours trading after it announced that CEO William Lynch resigned effective immediately.
Raytheon (RTN +1.52%) was awarded a $279.4 million government contract for developmental efforts in support of the U.S. Navy's Technology Development Phase of the Next Generation Jammer Program.
Berkshire Hathaway reported a 16.15% stake in Symetra (SYA +0.12%) .
Comcast reported a 12.7% stake in Clearwire (CLWR unch) .
Alcoa (AA +1.41%) is up over 1% in pre-market trading after it reported Q2 adjusted EPS of 7 cents, better than consensus of 6 cents.
WD-40 (WDFC -0.22%) jumped over 11% in after-hours trading after it reported Q3 EPS of 66 cents, better than consensus of 56 cents, and boosted its fiscal year 2013 EPS view to $2.40-$2.48 from $2.32-$2.42, higher than consensus of $2.39.

MARKET COMMENTS

Sep E-mini S&Ps (ESU13 +0.35%) this morning are up +3.50 points (+0.21%) as Alcoa started off Q2 earnings reporting season with better-than-expected results. The U.S. stock market on Monday climbed to a 2-1/2 week high and closed higher on carry-over support from Friday’s stronger-than-expected payroll report. Another positive for stocks was optimism that stocks will beat Q2 earnings expectations as Q2 earnings reporting season began on Monday with Alcoa. Q2 earnings estimates have been lowered to +1.8% earnings growth from +8.7% 6 months ago, according to Bloomberg estimates. Closes: S&P 500 +0.53%, Dow Jones +0.59%, Nasdaq 100 +0.10%.
Sep 10-year T-notes (ZNU13 unch) this morning are down -1 tick. Sep 10-year T-note prices on Monday recovered from a 23-month nearest-futures low and closed higher. The 10-year T-note yield climbed to a 23-month high of 2.75% before falling back after weaker-than-expected German May industrial production fueled a rally in German bunds that carried over into Treasuries. Closes: TYU3 +20.0, FVU3 +14.75.

The dollar index (DXY00 +0.12%) this morning is up +0.138 (+0.16%). EUR/USD (^EURUSD) is down -0.0005 (-0.04%). USD/JPY (^USDJPY) is up +0.21 (+0.21%). The dollar index on Monday fell back from a 3-year high and closed lower. Strength in stocks and a rebound in Treasury prices prompted profit-taking in the dollar. EUR/USD received a boost after Eurozone finance ministers agreed to release 3 billion euros of aid to Greece. Closes: Dollar index -0.256 (-0.30%), EUR/USD +0.00425 (+0.33%), USD/JPY -0.21 (-0.21%).
Aug WTI crude oil (CLQ13 -0.15%) this morning is down -14 cents (-0.14%). Aug gasoline (RBQ13 -0.01%) is down -0.0012 (-0.04%). Crude oil and gasoline prices on Monday settled lower. Aug crude fell back from a 14-month high on signs the unrest in Egypt hasn’t affected the flow of oil through the Suez Canal after an Egyptian official said the Suez Canal was “secure” and that traffic through the canal was “normal.” Closes: CLQ3 -0.08 (-0.08%), RBQ3 -0.0131 (-0.45%).

GLOBAL EVENT CALENDAR07/09/2013

US	0930 ET	IMF releases global economic forecasts and World Economic Outlook update.
	1300 ET	Treasury auctions $32 billion in 3-year T-notes.
	1630 ET	API weekly U.S. oil statistics.
JPN	0200 ET	Japan Jun machine tool orders, May -7.4% y/y.
	1950 ET	Japan Jun domestic CGPI expected unch m/m and +1.2% y/y, May +0.1% m/m and +0.6% y/y.
	1950 ET	Japan May tertiary industry index expected +0.8% m/m, Apr unch m/m.
UK	0430 ET	UK May industrial production expected +0.2% m/m and -1.5% y/y, Apr +0.1% m/m and -0.6% y/y. UK May manufacturing production expected +0.4% m/m and -1.6% y/y, Apr -0.2% m/m and -0.5% y/y.
	0430 ET	UK May visible trade balance expected -8.485 bln pounds, April -8.224 bln pounds. UK non-EU May trade balance expected -3.480 bln pounds, Apr -3.414 bln pounds. UK May total trade balance expected -2.6 bln pounds, April -2.579 bln pounds.
	1000 ET	UK Jun NIESR Jun GDP estimate, May +0.6%.
CHI	2200 ET	China Jun trade balance expected +27.80 billion, May +$20.42 billion. Jun exports expected +3.7% y/y, May +1.0% y/y. Jun imports expected +6.0% y/y, May -0.3% y/y.
	n/a	China Jun new yuan loans expected 830.0 billion yuan, May 667.4 billion yuan.

U.S. STOCK CALENDAR07/09/2013

Company Name	Symbol	Time	Event Description	Period
General Mills Inc	GIS US	10:00	Investor Day	Y 2013
Lam Research Corp	LRCX US	13:30	Investor and Analyst Meeting	Y 2013
Danaher Corp	DHR US	14:00	Analyst and Investor Meeting	Y 2013
KLA-Tencor Corp	KLAC US		Analyst Day
CNH Global NV	CNH US		Extraordinary Shareholders Meeting	Y 2013
Healthcare Trust of America Inc	HTA US		Annual General Meeting

Tuesday, June 25, 2013

5 Mid Cap Picks

Today I used Barchart to sort the S&P 400 Mid Cap Index for the stocks hitting the most frequent new highs then used to flipchart function to find the best charts. Never use just one indicator to select stocks - always sort by your favorite indicator the use the flipchart feature to flip through your results to find the stocks with positive charts. Today list includes Exelis (XLS), Firstmerit (FMER), Signature Bank (SBNY), CBOE Holdings (CBOE) and Health Management Associates (HMA):

Exelis (XLS)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
12 new highs and up 12.27% in the last month
Relative Strength Index 69.79%
Barchart computes a technical support level at 12.85
Recently traded at 13.33 with a 50 day moving average of 11.82

Firstmerit (FMER)

Barchart tehcnical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 7.52% in the last month
Relative Strength Index 65.00%
Barchart computes a technical support level at 19.10
Recently traded at 19.50 with a 50 day moving average of 18.00

Signature Bank (SBNY)

Barchart technical indicators:

96% Barchart technical buy signals
Trend spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 2.73% in the last month
Relative Strength Index 62.44%
Barchart computes a technical support level at 77.49
Recently traded at 62.44 with a 50 day moving average of 76.54

CBOE Holdings (CBOE)

Barchart technical indicators:

80% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
10 new highs and up 19.39% in the last month
Relative Strength Index 63.60%
Barchart computes a technical support level at 18.95
Recently traded at 19.78 with a 50 day moving average of 16.98

Health Management Associates (HMA)

Barchart technical indicators:

72% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 41.76% in the last month
Relative Strength Index 68.26%
Barchart computes a technical support level at 14.91
Recently traded at 15.64 with a 50 day moving average of 12.53

Tuesday, October 30, 2012

3 Mid Cap Picks

Today I sorted the S&P 400 Mid Cap Index to find 3 with great Barchart technical indicators and near the top of the list were Signature Bank (SBNY), Raymond James Financial (RJF) and Ingredion (INGR):

Signature Bank (SBNY)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
7 new highs and up 7.88% in the last month
Relative Strength Index 73.78
Barchart computes a technical support level at 70.93
Recently traded at 71.74 with a 50 day moving average of 66.44

Raymond James Financial (RJF)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
6 new highs and up 4.56% in the last month
Relative Strength Index 60.07%
Barchart computes a technical support level at 37.41
Recently traded at 38.28 with a 50 day moving average of 36.79

Ingredion (INGR)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
8 new highs and up 12.54% in the last month
Relative Strength Index 69.09%
Barchart computes a technical support level at 59.29
Recently traded at 60.84 with a 50 day moving average of 55.50

MORE STOCK PICKS

Tuesday, October 23, 2012

3 Mid Cap Picks

Today I sorted the S&P 400 Mid Cap stock index to find the 3 with the best Barchart technical indicators and charts that I liked and near the top of the list were Signature Bank (SBNY), Potlach Corporation (PCH), and Old Republic International Corporation (ORI):

Signature Bank (SBNY)