Friday March 20, 2015
Good Morning Traders,
Morning Notes
US Futures and European Markets are up this morning on eased concerns about Greece’s default after the Greek Prime Minister had an optimistic outlook after talks with EU officials in Brussels. Today is options expiration and markets normally reflect choppy price action. The majority of fluid price action, if any, will be in the first hour of the trading day.
Technicals
Yesterday, the $SPY traded inside Wednesday’s range making for choppy markets. The same support and resistance levels remain in play. The first level of support is yesterday’s daily low of $209.03 and then ascending support at $207.75. 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
NKE: 3Q revenue and futures growth up 17% and 23% respectively. P/T raised to $115.
MAC: Simon Property Makes Final Offer to Buy Macerich for $95.50/Shr. Gapping down over 7%.
Economic Calendar
NONE
Earnings After Close
NONE
Happy Trading!
