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Morning Note


Morning Note

"Morning Note – 1/8/19"

posted by CAPIS on 01/08/2019 at 7:45 am


01/08/2019 at 7:45 am

In After Hours Trading

IPOs on deck: IPOs will pick back up in the next couple weeks now that we are in 2019, Secondaries are back in business.

IPO Filings After The Close: Anchiano Therapeutics files to list in the U.S., currently in Tel Aviv Exchange.

Secondary Filings: NLY SMTX CFX AXSM common stock;  APH notes announced.

Courtesy of IPO Financial

News After The Close:

Union Pacific (UNP) names Jim Vena as COO, was former CNI executive,

NovoCure (NVCR) gives upside guidance,

United Continental (UAL) to take $206 million charge on Hong Kong routes.

Hourly Action This Past Week:

Stocks were strong yesterday with stocks up for most of the day aside from weakness 1:00 to 3:00.

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning:

U.S. futures: S&P +18.50, Dow Jones +199,  NDX +50.50 and Russell 2000 +9 with fair values MOSTLY LOWER HELPING GAINS.  Asia and Europe higher this morning.

Gold and silver lower with copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 121.96 with yields higher since Monday morning. Prices as of 8:15 a.m. EDT.

Top Sectors Monday: All except Utilities led by Technology, Services, Conglomerates and Industrials.

Weakest Sectors Monday: Utilities.

One Month Winners: None.

Three Month Winners: Utilities.

Six Month Winners: None.

Twelve Month Winners: Healthcare.

Year to Date: Conglomerates, Materials, Services and Industrials.

Pending Earnings Of Note:

Tuesday After the Close: SGH

Wednesday Before The Open: STZ LEN AYI MSM GBX SCHN

Earnings This Morning Of Note:

Beat Estimates: HELE +.04

Missed Estimates: AZZ -0.03 LNN -.04

Mixed Guidance: AZZ HELE

Rags & Mags:

Top Story: President Trump to address the nation at 9:00 p.m. on the government shutdown and funding for the wall. (Fox)

Sears Holdings (SHLD) to liquidate. (CNBC)

Samsung misses estimates and shocks investors. (CNBC)

LG follows Samsung with warning that profits to fall 80%. (Reuters)

Apple (AAPL) most unloved by Wall Street since 2005. (CNBC)

North Korean President Kim Jong Un pays a visit to China. (NPR)

More blood pressure drugs recalled over carcinogens. (USA Today)

J.P. Morgan CEO Jamie Dimon interviewed this morning on Fox Business News.

Date Points:

Yesterday saw 2371 stocks rise and 614 fall on the NYSE. NASDAQ saw 2335 rise and 766 fall.

The SP 500 remains below its 50 day simple moving average and its 200 day simple moving average. The Russell 2000 is still below its 50 day simple moving exponential average and 200 day simple moving average. All three indexes moved back above their 5 and 10 day moving averages. The Russell 2000 moved above its 20 day moving average on Friday and now the S&P 500 moved above its 20 day moving average for the first time since December 4th.

The QPI10 Day Moving Average of Breadth (10DMA) moved to cash on 11/21 at 2642.21 and now moves back to a buy as of yesterday’s close at 2549.69. For a move to a buy from cash, the 10DMA needs to have two days in row above +200 which happened yesterday.

YTD  26% (+2%) of stocks are higher and 74% (-2%) are lower. Updated 1/4/18 close with next update on 1/11/19 close.

Courtesy of Quantitative Partners, Inc and Phil Erlanger Research, Inc.


Yesterday saw the S&P 500, Dow Jones Industrial Average and the Russell 2000 all close above pivot with the S&P 500 and Russell 2000 closing above resistance. Notice the lack of weakness since the Christmas Eve Massacre.

The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range. 

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

December NFIB Small Business Optimism Survey came in at 104.4 from 104.8.

November JOLTS out at 10:00 a.m. EDT and last report came in at 7.08 million.


The government shutdown continues as no agreements reached.

President Trump to address the nation at 9:00 p.m. EDT.

U.S. Negotiators are in Beijing, China and conclude a two day meeting.

Conferences & Analyst Meetings:

Analyst Meetings/Notable Conference Call: PTLA (update) NK (Investor Day) Breakouts at J.P. Morgan ALXN AMGN Bus tour with CRM.

Sellside Conferences: J.P. Morgan Healthcare Conference. UBS Greater China Conference. Goldman Sachs Global Energy Conference, Citi Global Telecom Media Technology (TMT) Conference, JP Morgan Annual Tech Forum,.RBC Canadian Bank CEO Conference, Citi European Insurance Conference.

Industry Conferences: The Consumer Electronics Show (CES) runs this week in Las Vegas. Biotech Showcase. EBD Group Biotech Showcase.

M&A News & Rumors

Upgrades & Downgrades


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