Friday July 10, 2015
Economic Calendar 7/10/2015
Morning Notes
US futures are sharply higher this morning and European stocks are up over 3% as the second day of the bounce in China equities takes place along with Greece submitting its proposals to creditors. Greek PM Tsipras had agreed to meet most of the requirements of creditors in exchange for 3 year, 53.5 billion euro bailout.
Technicals
The $SPY tested the 200 day moving average again in yesterday’s session and closed below at $204.90. Currently the $SPY is moving higher in the pre market, trading near the $207 level. The $207 level will act as resistance and also a critical pivot if the price action can hold above. The next point of resistance lies at $208. The 200 day moving average at $205.60 will act as near term support.
In Play
ICLD: InterCloud Systems – The company announced it was awarded a series of contracts from new and existing clients valued at over $1.5 mln; to provide engineering and design services for next gen wireless networks. Gapping up 12% with a 59M share float.
KONE: Kingtone Wireless – The company reported The First Six Months of Fiscal Year 2015 Unaudited Financial Results; Confirms its Previously Announced Fiscal Year 2015 Revenue and Net Income Guidance. Sees 2015 Revenue of $12-$15M. Gapping up 50% with a 1.1M share float.
Economic Calendar
10:00 Wholesale Inventories (MoM) [May] – Consensus 0.30%
11:35 FOMC Member Rosengren Speaks
12:30 FED Chair Yellen Speaks
Earnings Before Open
NONE
Earnings After Close
NONE
Happy Trading!
