Wednesday April 15, 2015
Good Morning Traders,
Morning Notes
US Futures slightly higher this morning after INTC reported better than expected forecast for Q2. On Tuesday, the US Markets closed mildly higher on strength from the financial and oil sector. Europe is also trading higher ahead of the ECB meeting and comments from ECB President, Mario Draghi. Asian Markets closed mostly mixed.
Technicals
The $SPY remains in a tight range between $209 and $210.5, making for quite choppy price action. Yesterday, the $SPY tested the $209 support level and closed back above at $209.49. The same levels will remain in play as yesterday and Monday. Minor descending resistance at $210.5 and major at $211.5. Support will also remain at $209.
In Play
CLSN: Celsion – Company released positive data from “Dignity” study. Gapping up 24% with a 17M share float.
NVGN: Novogen – Shares continuing to skyrocket on increased volatility and has tacked on over 250% since the start of 2015. Gapping up 14% with an 8.5M share float.
Economic Calendar
08:30 NY Empire State Manf. Index – Consensus 7.00
09:00 FOMC Bullard Speaks In Washington
09:15 Industrial Production (MoM) – Consensus (0.30)%
09:15 Capacity Utilization [Mar] – Consensus 78.70%
09:15 NAHB Housing Market Index [Apr] – Consensus 55.0
09:15 Manf. Production [Mar] – Consensus 0.10%
10:30 EIA Weekly Distillates Stocks [Mar] – Consensus 1.03M
10:30 Gasoline Inventories – Consensus -333.0K
10:30 Crude Inventories – Consensus 3.67M
14:00 Beige Book
16:00 TIC Net Long-Term Transactions – Consensus $23.40B
16:00 TIC Net Long-Term Transactions Incl. Swaps – Consensus $39.30B
16:00 Overall Net Capital Flow
19:00 FOMC Lacker Speaks In Charleston, SC
Earnings Before Open
DAL: Delta Air Lines – EPS Est. $0.58. Rev Est. $9.43B
SON: Sonoco Products – EPS Est. $0.58. Rev Est. $1.25B
SCHW: Charles Schwab – EPS Est. $0.24. Rev Est. $1.55B
BAC: Bank of America – EPS Est. $0.30. Rev Est. $21.64B
Earnings After Close
NFLX: Netflix – EPS Est. $0.69. Rev Est. $1.57B
SNDK: SanDisk – EPS Est. $0.88. Rev Est. $1.44B
STLD: Steel Dynamics – EPS Est. $0.14. Rev Est. $2.15B
Happy Trading!
