Tuesday June 30, 2015
Economic Calendar 6/30/2015
Morning Notes
US Futures are edging higher after yesterday’s selloff on the continued Greek debt crisis. The European Commission President Juncker laid out a framework to Greece for which it can still reach an agreement with their creditors. Greece owes $1.7B euro to the IMF today, but it is unlikely the payment will be completed. The Greek stock exchange and banks remain closed. European stocks are trading lower and Asian stocks closed higher.
Technicals
The $SPY broke down through all major levels of support and now is trying to hold the 200 day moving average of $205.40. The 200 day moving average will continue to be the closest level of support. Beyond the 200 day, there is light support at $204 then straight to $200. Resistance will be at $208 and then the high of yesterday’s range at $209.83.
In Play
*This morning’s gaps are in sympathy to the CELG/JUNO collaboration deal. None of the small cap gaps contain a specific catalyst. We will be referring to our momentum scanners at the open to locate a potential trade.
Economic Calendar
9:00 SP/CS HPI Composite 20 NSA (YoY) [Apr]
9:00 SP/CS HPI Composite 20 NSA (MoM) [Apr]
9:00 SP/CS HPI Composite 20 SA (MoM) [Apr]
9:45 Chicago PMI [Jun] – Consensus 50.00
10:00 CB Consumer Confidence [Jun] – Consensus 97.30
Earnings Before Open
CAG: ConAgra – EPS Est. $0.59, Rev Est. $4.13B
SCHN: Schnitzer Steel – EPS Est. $(0.14), Rev Est. $495.76M
Earnings After Close
CUB: Cubic – EPS Est. $0.57, Rev Est. $355.51M
ANTH: Anthera Pharma – EPS Est. $(0.27), Rev Est. $130.00M
Happy Trading!
