Monday June 15, 2015
Economic Calendar 6/15/2015
Morning Notes
US Futures are lower this morning along with European stocks trading lower by over -1.5%
as the Greek credit crisis continues to go unresolved. On Sunday, talks between Greece and its creditors ended abruptly after huge differences between the parties. Asian stocks closed lower.
Technicals
The $SPY broke support of $210.20 and closed below it at $210 on Friday, again rejecting the descending resistance. In pre market this morning we are trading sharply lower well below upper support. The first support zone will be at $208 and resistance will be at the high of Friday, or $211.48.
In Play
AMCN: Air Media Group – The Company announced that it would be selling 75% of its equity interest in its Advertising Business to a Beijing Fund. Gapping up 13% with a 22M share float.
NURO: NeuroMetrix – The Company announced the full commercial launch of its wearable chronic pain relief technology, which is 100% drug free. Gapping up 17% with a 8.4M share float.
Economic Calendar
9:15 Industrial Production (MoM) [May] – Consensus 0.20%
9:15 Manufacturing Production (MoM) [May] – Consensus 0.20%
10:00 NAHB Housing Index [Jun] – Consensus 56.00
4:00 Net Long-term TIC Flows [Jun] – Consensus $24.9B
Earnings Before Open
NONE
Earnings After Close
LAKE: Lakeland Industries – EPS Est. $0.27, Rev Est. $26.01M
Happy Trading!
