Apple Today 4/03/2017 (AAPL)
seymour_greenz • April 3rd 2017 11:33:35 AM
Good Morning,
Welcome back. S&P Futures are flat with +1 Fair Value, NASDAQ Futures are up 5 with -1 Fair Value and Dow Futures are up 13 as we kick off April and begin the second quarter of 2017. The year to date score is 4.6% for the Dow, 5.5% for the S&P and 9.8% for the Nasdaq. Techwise, Apple harshly ditched chip technology provider Imagination Technologies, triggering a share selloff and the digital currency Bitcoin reclaimed 1100 yesterday, and is currently in the mid-1100 area this morning.
This morning's Economic Calendar includes: PMI Manufacturing Index, ISM Manufacturing Index and Construction Spending followed by Gallup US Consumer Spending Measure this afternoon.
Futures were flat in early morning, then peaked shortly before 2:30am and then slipped sharply into negative territory later in the morning before bouncing back slightly and are are off the lows as we approach the open.
Asian markets ended up. China was closed for Ching Ming Festival Eve, Hong Kong gained 0.62% and Japan went up 0.39%. European markets are mixed. The UK is up 0.06%, Germany is up 0.20% and France is down 0.29%.
Commodities are mixed this morning. Oil is up 0.28%, natural gas is up 0.82% and gold is down 0.18%. Unleaded gas is up 0.06% and heating oil is up 0.45%. Metals are down except copper. Meats are mixed. Coffee, cotton, corn, wheat and soybeans are up while cocoa is down.
Manufacturing growth caps strong first quarter, led by China. Oil prices under pressure as Libyan production recovery weighs.
A leading Bullish C trade strategy is: When the 13 SMA is Below the 20 EMA AND the 36 Day Smoothed Stochastics is Bullish, daily bars.
This afternoon after the bell, look out for earnings from NovaGold Resources, Inc (NG).
AAPL had a strong week, ending up 2.15% on mild volume. On Monday, AAPL grazed up to 141, ending up 0.17% on lower than average volume. On Tuesday, AAPL shot up to 144 like a rocket, ending up 2.05% on higher than average volume. On Wednesday, AAPL set over the 144-horizon, ending up 0.22% on average volume. On Thursday, AAPL navigated through choppy waters below 144, ending down 0.13% on low volume. On OPEX Friday, AAPL targeted mid-143 and ended down 0.19% on low volume. AAPL opened at 143.72 to high volume and quickly set an intra-day low of 143.01 on high volume before bouncing back sharply and setting an intra-day high of 144.27 at 10:18am on low volume. AAPL subsequently slipped to the 144-line and held a narrow range on low volume until 2pm when AAPL dipped to the mid-143 area and then recovered 144 within 30 minutes to the close on moderate volume before slipping into the close on moderate volume. AAPL ended the day down 27 cents at 143.66 and dropped 2 more cents in after-hours to 143.64.
This morning in pre-market, AAPL picked up with Friday's close and hovered around the upper-143 area as an Outperform Rating and $159 Price Target was reiterated by Raymond James. AAPL is currently up 6 cents at 143.72 as we approach the open.
Classic max-pain is 140.
Manufacturing growth caps strong first quarter, led by China:
http://www.reuters.com/article/us-global-economy-idUSKBN1750H4
Oil prices under pressure as Libyan production recovery weighs:
http://www.reuters.com/article/us-global-oil-idUSKBN17501U?il=0
Imagination Technologies' shares collapse after Apple ditches Brit chip designer:
https://arstechnica.com/business/2017/04/apple-ditches-imagination-technologies-shares-collapse/
HPE completes enterprise services spinoff, cuts outlook:
http://www.zdnet.com/article/hpe-completes-enterprise-services-spinoff-cuts-outlook/
Apple considering selling "premium" TV bundle with HBO, Starz & Showtime:
http://appleinsider.com/articles/17/04/02/apple-considering-selling-premium-tv-bundle-with-hbo-starz-showtime---report
How to use a VPN to protect your internet privacy:
http://www.zdnet.com/article/how-to-use-a-vpn-to-protect-your-internet-privacy/
April Fools' comet passes by Earth, took nearly a century to identify:
http://www.space.com/36314-april-fools-comet-41p-passes-earth.html
SpaceX aiming for full rocket reusability:
http://www.techtimes.com/articles/203757/20170402/elon-musk-aiming-for-full-rocket-reusability-wants-spacex-to-attempt-upper-stage-recovery.htm
Unmasking the fearsome face of a Tyrannosaur:
https://www.nytimes.com/2017/03/31/science/tyrannosaurs-face-dinosaur.html
Fern-leaf inspires electrode for high density solar energy storage:
http://newatlas.com/fern-fractal-solar-energy-system/48737/
Badger goes on a 6-day digging bender and buries entire cow to eat later:
https://qz.com/947859/highly-satisfied-badger-on-six-day-digging-bender-buries-entire-cow-to-eat-later/
Why British babies cry the most and Danish babies the least:
https://www.theguardian.com/society/shortcuts/2017/apr/03/danish-babies-cry-parenting-denamrk
Depression is the leading cause of illness worldwide:
http://www.techtimes.com/articles/203812/20170403/depression-is-leading-cause-of-ill-health-worldwide-how-to-combat-the-scourge.htm
One cup of this coffee can cause irregular heartbeat!
http://www.techtimes.com/articles/203743/20170402/one-cup-of-this-coffee-can-cause-irregular-heartbeat-other-dangerous-caffeinated-products-that-can-potentially-kill-you.htm
Today's Economic Calendar:
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
2:00 PM Gallup US Consumer Spending Measure
Notable earnings this afternoon after the bell: DPDW, *NG*, EDAP, RXMD
And tomorrow before the open: CONN, SNWV, ISCA, AYI, ASOMF, NNOCF