Thursday March 19, 2015
Good Morning Traders,
Morning Notes
US Futures are down this morning ahead of U.S. weekly jobless claims and the monthly Philly Fed business outlook. European Markets are up at highest levels since 2000 attempting to catch up to rally in U.S. Markets as the Fed stated it would move slowly toward an interest rate hike.
Technicals
The $SPY surged higher yesterday on volume after the Fed statement. The first level of support is ascending support at $207.75 and yesterday’s daily low of $206.62. Descending resistance lies overhead at $211.75. Above this descending resistance point, opens up a clear move to the ascending resistance macro channel at $220.
In Play
NQ: Eps beat, 2.2M share float, gapping up over 10%, and a former runner.
FOLD: Positive global regulatory updates from EMA and FDA meetings for Fabry Monotherapy. 55M share float and gapping up over 20%.
Economic Calendar
08:30 Current Account [Q4]- Consensus -$101.20B
10:00 Philly Fed Business Conditions [Mar]
10:00 Philly Fed Price Paid [Mar]- Prior 4.70
10:00 CB Leading Index (MoM) [Feb]- Consensus 0.30 percent
10:00 Philly Fed Manufacturing Index [Mar]- Consensus 5.50
10:00 Philly Fed New Orders [Mar]
10:00 Philly Fed CAPEX Index [Mar]
10:00 Philly Fed Employment [Mar]
Earnings After Close
NKE: Nike – EPS Est. $0.85
Happy Trading!