Tuesday March 24, 2015
Good Morning Traders,
US Futures and European stocks are up this morning after the Eurozone manufacturing activity this month expanded at the quickest pace in past 10 months. Positive comments from Fed President Bullard about the expectation of the economy to grow at a 3% rate while the falling unemployment will lead to a “boom.” Asian Markets closed mostly mixed.
The $SPY maintains active upper support between $209 and $209.50. As long as this range holds, the momentum will continue. Resistance points overhead are at the top of this mid range flag at $211.12 and descending resistance at $211.70.
DGLY: Reported 4Q Eps Monday after the close and posted a 55% jump in revenue. Former momentum name. Gapping up over 14% with a 2.5M share float
RADA: Watch for continuation of momentum. Gapping up over 5% with a 4.6M share float.
08:30 Core CPI [Feb] (MoM) – Consensus 0.10 percent
09:00 House Price Index
09:45 Manufacturing PMI [Mar] – Consensus 54.70
10:00 Richmond Manufacturing Index – Consensus 2.00
10:00 Richmond Services Index
10:00 Richmond Manufacturing Shipments
10:00 New Homes Sales – Consensus 465.0K
10:00 New Homes Sales (MoM) – Consensus (1.30) percent
16:30 API Weekly Gasoline Stock
16:30 API Weekly Crude Stock
16:30 API Weekly Distillates Stock
Earnings After Close
SONC: Sonic – EPS Est. $0.12, Prior $0.07. Rev Est. $123.29M