Apple Today 10/31/2016 BOO! EOM (AAPL)
seymour_greenz • October 31st 2016 10:03:10 AM
Good Morning,
Happy Halloween! NASDAQ Futures are up 14 with +22 Fair Value, S&P Futures are up 3 with +6 Fair Value and Dow Futures are up 9 on the spookiest last day of October as a legion of ghosts, ghouls and zombies prepare to swarm later this evening. The economic calendar holds a few frightening metrics this morning, including Weird Personal Income and Outlays, followed by Disgusting Chicago PMI and then the Sinister Dallas Fed Manufacturing Survey later at 10:30am. The earnings calendar just became more scary, too, as an army of ghoulish companies will be screaming results this afternoon after the bell, including Sony Corporation (SNE), Integrated Device Technology, Inc. (IDTI) and Tesoro Corporation (TSO), and tomorrow morning Kellogg Company (K), Angie's List, Inc. (ANGI) and Pfizer Inc. (PFE) will rise up from the hallowed earth. Futures were up in early morning and reached a creepy peak just after 1:30am and sunk to gravely lows just after 7am, bouncing and though still a slimy greenish color are just off the lows as we approach the devilish open.
Asian markets ended down. China dropped 0.12%, Hong Kong went down 0.09% and Japan fell 0.12%. European markets are also down. The UK is down 0.46%, Germany is down 0.27% and France is leading the frightening decline, down 0.62%.
Commodities are mostly spooked this morning. Oil is down 0.92%, natural gas is up 0.23% and gold is down 0.23%. Unleaded gas is down 0.55% and heating oil is down 0.24%. Metals are mixed, gold and platinum are down while silver and copper are up. Meats are mixed. Cocoa, coffee, cotton, corn and soybeans are down while wheat is up.
US consumer spending climbs by most in 3 months. Euro-area economy keeps pace as ECB mulls stimulus extension.
Loews Corporation (L) reported Q3 results that terrorized expectations with a profit of 97 cents per share and is up over 6% in pre-market. Diamond Offshore Drilling Inc. (DO) announced a Q3 profit of 10 cents per share but is petrified in pre-market.
This afternoon after the bell, look out for earnings from Sony Corporation (SNE), Integrated Device Technology, Inc. (IDTI) and Tesoro Corporation (TSO).
Tomorrow morning before the open, Fidelity National Information Services, Inc. (FIS), RetailMeNot, Inc. (SALE), WellCare Health Plans, Inc. (WCG), Kellogg Company (K), The Mosaic Company (MOS), Molson Coors Brewing Company (TAP), Thomson Reuters Corporation (TRI), Discovery Communications, Inc (DISCA), Angie's List, Inc. (ANGI), Care.com, Inc. (CRCM), Iron Mountain Inc. (IRM), U.S. Auto Parts Network, Inc. (PRTS), Coach, Inc. (COH), Pitney Bowes Inc. (PBI) and Pfizer Inc. (PFE) are expected to report.
AAPL had a panicky week, ending down 2.89% on low volume. On Monday, AAPL had a bullish day, wandering up 0.90% in the mid-117 area and grazing on low volume. On earnings Tuesday, the AAPL 3-stage circus act continued with AAPL ending intra-day up 0.51% above 118 on average volume but dropping over 3% in after-hours after beating earnings expectations but reporting its first annual drop in revenue in 15 years. On Wednesday, AAPL began to rebuild after scraping low-113 from a scarring earnings report, ending the emotional day down 2.25% on gigantic volume, yet in far better shape than it started. On Thursday, as the Apple event showcased new products AAPL held 115 pretty well but ultimately dropped 0.93% to 114 for the day on low volume.
On OPEX Friday, AAPL dropped 0.72% on slightly lower than average volume. AAPL opened down at 113.85 to high volume and quickly dashed up above 115 on high volume and held the 115 line pretty well on low volume aside from a brief dip below 114.5 at 10:22am on mild volume, even going on to set an intra-day high of 115.21 at 12:27pm on moderate volume. Everything changed at 1pm when the news that the FBI hit the wires with haste, causing the market and AAPL to quickly slide on moderate volume, all the way down to an intra-day low of 113.45 at 2:12pm where AAPL bounced back to 114 on mild volume and then wallowed around in the upper-113 zone on more mild volume taking a brief stab above 114 at 3:28pm on moderate volume before sinking to near lows into the final OPEX countdown on moderate volume. AAPL ended the day down 79 cents at 113.96 and dropped 35 cents in after-hours to 113.61.
This morning in pre-market, AAPL opened up in conjunction with Futures and held the upper-113 area on frighteningly little news before a scary dip to mid-113 later in the morning. AAPL is currently down 18 cents at 113.54 as we approach the open.
The current leading AAPL swing trade strategy is: 22 Stochastics Bullish AND a Bullish MACD 2/5 Bullish crossover, daily bars.
Classic max-pain is 116. Today is the last day of October (EOM). Have a Happy Halloween with your friends and family! Booo!
US consumer spending climbs by most in 3 months:
http://www.bloomberg.com/news/articles/2016-10-31/consumer-spending-in-u-s-rebounds-by-most-in-three-months
Euro-area economy keeps pace as ECB mulls stimulus extension:
http://www.bloomberg.com/news/articles/2016-10-31/euro-area-economy-keeps-pace-as-ecb-considers-stimulus-extension
Seeking ownership of both the information and the superhighway:
http://www.nytimes.com/2016/10/31/business/media/seeking-ownership-of-both-the-information-and-the-superhighway.html?_r=0
Final Fed meeting and final jobs report before election day:
http://www.nytimes.com/2016/10/31/business/final-fed-meeting-and-final-jobs-report-before-election-day.html
Sony cuts annual profit outlook by 10%:
http://www.bbc.com/news/business-37820213
Apple says touchscreen Macs "not a particularly useful or appropriate application of Multitouch":
http://www.macrumors.com/2016/10/31/new-touch-bar-touchscreen-jony-ive-macs/
Sharp CEO supposedly confirms Apple to use OLED in next-generation iPhone:
http://appleinsider.com/articles/16/10/29/sharp-ceo-supposedly-confirms-apple-to-use-oled-in-next-generation-iphone
Microsoft is doing a better Apple impression than Apple is:
http://www.theverge.com/2016/10/28/13451832/microsoft-apple-hardware-videos-comparison
Microsoft VR headset details to be revealed at December event:
https://www.cnet.com/news/microsoft-vr-headset-details-to-be-revealed-at-december-event/
No one saw Tesla's solar roof coming:
https://www.bloomberg.com/news/articles/2016-10-31/no-one-saw-tesla-s-solar-roof-coming
Verizon offering Pixel and Pixel XL customers up to $400 for old smartphone trade-ins:
http://www.techtimes.com/articles/184266/20161031/verizon-offering-pixel-and-pixel-xl-customers-up-to-400-for-old-smartphone-trade-in.htm
Mozilla promises a next-gen Firefox engine that will deliver huge improvements:
http://www.pcworld.com/article/3136579/browsers/mozilla-promises-a-next-gen-firefox-engine-that-will-deliver-huge-improvements.html
Remember this one? Told you it wasn't going to happen:
http://www.upi.com/Business_News/2016/10/29/Commaai-cancels-self-driving-car-tech-after-concerns-from-US-regulators/9401477761183/
Soyuz capsule returns multinational astronaut crew to Earth:
http://www.csmonitor.com/Science/2016/1031/Soyuz-capsule-returns-multinational-astronaut-crew-to-Earth
NASA's new "intruder alert" system apots an incoming asteroid:
http://www.npr.org/sections/thetwo-way/2016/10/30/499751470/nasas-new-intruder-alert-system-spots-an-incoming-asteroid
Virtual trip to Mars offers ultimate preview to crewed mission:
http://www.nationalgeographic.com.au/space/virtual-trip-to-mars-offers-ultimate-preview-to-crewed-mission.aspx
See "pumpkin stars":
http://www.nasa.gov/feature/goddard/2016/nasa-missions-harvest-a-passel-of-pumpkin-stars/
This is what happens when NASA engineers hold a pumpkin-carving competition:
http://www.theverge.com/2016/10/31/13476208/nasa-pumpking-carving-competition
Did Frankenstein save humans from extinction?
http://www.techtimes.com/articles/184240/20161031/frankenstein-saved-humans-extinction-mary-shelley-novel-rooted-biology-study.htm
Why Spain could be a desert by 2100, say climate researchers:
http://www.csmonitor.com/Environment/2016/1029/Why-Spain-could-be-a-desert-by-2100-say-climate-researchers
1 in 7 children globally lives with toxic air, study finds:
https://www.washingtonpost.com/news/energy-environment/wp/2016/10/31/one-in-seven-children-globally-lives-with-toxic-air-study-finds/?utm_term=.cfb1e47e4f28
Measles complication that can occur years after infection kills more than previously thought:
http://www.techtimes.com/articles/184282/20161030/measles-complication-that-can-occur-years-after-infection-kills-more-than-previously-thought.htm
Snack safely, please:
http://www.latimes.com/science/sciencenow/la-sci-sn-halloween-candy-lethal-amount-20161031-story.html
Better yet, eat some broccoli instead:
http://time.com/4547919/this-compound-in-broccoli-can-slow-aging/
Today's Economic Calendar:
8:30 Personal Income and Outlays
9:45 Chicago PMI
10:30 Dallas Fed Manufacturing Survey
3:00 Farm Prices
Notable earnings this afternoon after the bell: MPWR, PPS, TSU, AIN, BKD, APAM, HMN, CGNX, OHI, EXAC, VNO, TEX, GOOD, OGS, CHMT, MIC, NLS, RAIL, THC, CPS, HCLP, HVT, ORC, WSR, DK, DKL, AEGN, DRRX, MCEP, OFIX, SYKE, PQ, AFH, PLOW, SSW, SYX, BDE, AWH, CNXC, HTLF, JBSS, AMKR, *SNE*, APC, ARE, BWXT, CBT, ENH, GGP, *IDTI*, LMNX, OLN, ITUB, INST, TLLP, *TSO*, QTNT, STRL
And tomorrow before the open: AME, NKRKF, *FIS*, GWR, HCP, *SALE*, *WCG*, ALLT, GLT, MLM, GPRE, AHH, AYR, INCY, *K*, *MOS*, ORKLY, SHPG, *TAP*, *TRI*, NSP, DX, PES, RDCM, CBZ, *DISCA*, EIGI, NI, CIE, EVHC, *ANGI*, *CRCM*, ECL, FDP, SAH, SUI, ADPT, AVA, DIN, INOD, SHOO, FCH, GPX, *IRM*, WNR, WNRL, KBR, RDC, RHP, NLNK, LXRX, OXFD, WJXFF, AP, AMRC, EGL, HSKA, APTS, WLB, *PRTS*, TST, SYN, CNTY, MSM, LYB, BP, CNX, *COH*, GK, HZO, SCBFF, TWIN, DHX, AEP, OSK, PPL, WEIGF, ETN, SPR, ADM, APLP, AROC, ARRY, AUDC, CMI, EMR, FSS, HRS, HW, IFMI, KEM, *PBI*, *PFE*, RDWR, RYAM, SCAI, WJAFF, XYL, ICE, MBUU, RDS.A, MDC, OXY, PJT, GHM, CRVL, AHC, FMCC, IDXX, PNDZF, AZUR, EDGE, MCRN