Tuesday April 7, 2015
Good Morning Traders,
Morning Notes
US Futures are slightly unchanged this morning and consolidating after yesterday’s strong move higher. US Markets rallied sharply higher yesterday on a possible delayed rate increase by the Fed in result of last Friday’s very weak March payroll report. European Markets also moved higher after a consolidation break and Asian Markets followed suit.
Technicals
The $SPY surged through Thursday’s high as well as minor descending resistance yesterday. The $SPY must commit to and hold above $207 for a move higher. Resistance lies at $208.61 and major descending resistance at $211.54.
In Play
BIND: BIND Therapeutics initiated with an Outperform at Oppenheimer – Target $14. Gapping up over 10% with a 9M share float.
ONVO: Organovo enters research pact with L’Oreal USA Products. Gapping up 10% with a 73M share float.
BLDP: Ballard Power Systems demonstrated world’s first hydrogen fuel cell tram. Gapping up 10% with a 132M share float.
Economic Calendar
08:50 FOMC Kocherlakota Speaks
08:50 Redbook (MoM) – Prior 1.20%
08:50 Redbook (YoY) – Prior 3.00%
10:00 JOLTs Job Openings – Consensus 5.01M
10:00 IBD/TIPP Economic Optimism – Consensus 49.20
15:00 Consumer Credit – Consensus $13.0B
16:30 API Weekly Crude Stock
16:30 API Weekly Gasoline Stock
16:30 API Weekly Distillates Stock
Earnings After Close
MIND: Mitcham Industries – EPS Est. $(0.55), Prior $0.14. Rev Est. $14.15M
Happy Trading!
