Friday April 10, 2015
Good Morning Traders,
Morning Notes
US Futures are up slightly this morning on the news from GE on its asset sale and 50B buyback plan. The market closed higher yesterday on a drop in continuing unemployment claims to a 14 year low and also on news that Greece made its 450M payment to the IMF. Europe is trading moderately higher while Asia closed higher as well.
Technicals
The $SPY held mid range support and closed higher at $208.90 yesterday, which is above mid range resistance of $208.75. The next resistance points are minor descending resistance at $210.50, then major descending resistance at $211.54. Until both of the minor and majors are cleared, the SPY remains in a choppy, lethargic range.
In Play
NFLX: Netflix – Citi raised to buy from neutral with a price target of $525 with long term upside of $750.
VLTC: Voltari Corp – Continuation play with Activist Investor Carl Icahn behind the company.
Economic Calendar
08:30 Export Price Index (MoM) [Mar] – Consensus (0.20)%
08:30 Import Price Index (MoM) [Mar] – Consensus (0.30)%
10:30 ECRI Weekly Annualized (WoW)
10:30 ECRI Weekly Index (WoW)
10:30 Kocherlakota Speaks In Bloomington Minnesota
14:00 Federal Budget Balance [Mar] – Consensus (43.0B)
Earnings After Close
NONE
Happy Trading!
