US Futures are up
decent, ES up about 15, testing the R1 pivot since about 6 am, for
now has a bull flag look. Of course futures are up about 32
points from the gap down lows of last night. Regarding the gap
to see of it has legs, monitor a 15 min gap rule and tick tools
will give a clue, for now has a flag look to it. R1 on ES is
resistance. On the daily chart ES you can see that it is well
above the 20 day MA and not too far from the 50 MA (in red), a
target as I said last night could be the 50 MA up near 2100 on the
cash
Of course news with Greece, not only have they agreed to a third
bailout (on Europe's terms), they have to put 50B euro of state
assets in a trust to be sold off with the proceeds used to pay the
debt. Other austerity measures have to go through parliament, which
will be tough given the "no" vote in last weekend's referendum. The
Greek stock market remains closed.
Stock headlines from barchart.com...
Apple (AAPL +2.67%) was upgraded to 'Buy' from 'Hold' at Societe
Generale.
AutoNation (AN +0.65%) was upgraded to 'Overweight' from
'Underweight' at Morgan Stanley with a price target of $70.
Brocade (BRCD +3.00%) was downgraded to 'Sector Perform' from
'Outperform' at RBC Capital.
Ingersoll-Rand (IR +0.47%) was upgraded to 'Buy' from 'Hold' at
Stifel.
Murphy Oil (MUR -1.50%) was downgraded to 'Underweight' from 'Equal
Weight' at Morgan Stanley.
Hologic (HOLX +1.98%) was downgraded to 'Hold' from 'Buy' at
Evercore ISI.
Vornado (VNO +0.27%) was downgraded to 'Neutral' from 'Buy' at
Goldman Sachs.
PepsiCo (PEP +1.01%) was downgraded to 'Neutral' from 'Positive' at
Susquehanna.
Groupon (GRPN -1.22%) was upgraded to 'Outperform' from 'Neutral'
at Macquarie.
ASM Research, an Accenture Federal Services company (ACN +1.05%) ,
has been awarded a $300 million contract from the U.S. Department
of Veterans Affairs.
IMAX (IMAX +3.08%) was upgraded to 'Overweight' from 'Neutral' at
Piper Jaffray with a price target of $41.
STMicroelectronics (STM +4.97%) was downgraded to 'Underweight'
from 'Neutral' at JPMorgan Chase.
Mark Tompkins reported a 5.6% passive stake in Pieris
Pharmaceuticals (PIRS +5.58%) .
ARRIS (ARRS +1.82%) lowered guidance on Q2 EPS view to 51 cents-55
cents from 53 cents-58 cents, below consensus of 56 cents.
Earnings and Economic Numbers from
seekingalpha.com...
Pre Market
Posted by matt on 13th of Jul 2015 at 09:06 am
US Futures are up decent, ES up about 15, testing the R1 pivot since about 6 am, for now has a bull flag look. Of course futures are up about 32 points from the gap down lows of last night. R egarding the gap to see of it has legs, monitor a 15 min gap rule and tick tools will give a clue, for now has a flag look to it. R1 on ES is resistance. On the daily chart ES you can see that it is well above the 20 day MA and not too far from the 50 MA (in red), a target as I said last night could be the 50 MA up near 2100 on the cash
Of course news with Greece, not only have they agreed to a third bailout (on Europe's terms), they have to put 50B euro of state assets in a trust to be sold off with the proceeds used to pay the debt. Other austerity measures have to go through parliament, which will be tough given the "no" vote in last weekend's referendum. The Greek stock market remains closed.
Stock headlines from barchart.com...
Apple (AAPL +2.67%) was upgraded to 'Buy' from 'Hold' at Societe Generale.
AutoNation (AN +0.65%) was upgraded to 'Overweight' from 'Underweight' at Morgan Stanley with a price target of $70.
Brocade (BRCD +3.00%) was downgraded to 'Sector Perform' from 'Outperform' at RBC Capital.
Ingersoll-Rand (IR +0.47%) was upgraded to 'Buy' from 'Hold' at Stifel.
Murphy Oil (MUR -1.50%) was downgraded to 'Underweight' from 'Equal Weight' at Morgan Stanley.
Hologic (HOLX +1.98%) was downgraded to 'Hold' from 'Buy' at Evercore ISI.
Vornado (VNO +0.27%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
PepsiCo (PEP +1.01%) was downgraded to 'Neutral' from 'Positive' at Susquehanna.
Groupon (GRPN -1.22%) was upgraded to 'Outperform' from 'Neutral' at Macquarie.
ASM Research, an Accenture Federal Services company (ACN +1.05%) , has been awarded a $300 million contract from the U.S. Department of Veterans Affairs.
IMAX (IMAX +3.08%) was upgraded to 'Overweight' from 'Neutral' at Piper Jaffray with a price target of $41.
STMicroelectronics (STM +4.97%) was downgraded to 'Underweight' from 'Neutral' at JPMorgan Chase.
Mark Tompkins reported a 5.6% passive stake in Pieris Pharmaceuticals (PIRS +5.58%) .
ARRIS (ARRS +1.82%) lowered guidance on Q2 EPS view to 51 cents-55 cents from 53 cents-58 cents, below consensus of 56 cents.
Earnings and Economic Numbers from seekingalpha.com...
Bull flag played out on
Posted by matt on 13th of Jul 2015 at 10:24 am
Bull flag played out on ES
by the way there's a timing high late this afternoon