Hot Stocks To Watch 5/16/2018

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Wednesday May 16, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures are slightly higher and European shares are lower this morning. US t notes are stabilizing after concern of rate rise on Tuesday. However there are concerns that talks with N. Korea may deteriorate after comments their state run media. European shares are lower with increased political riskes in Italy. Asian markets closed mostly lower on the day.

 

Technicals

The SPY gapped lower to start yesterday’s session, finding support near the 100SMA. Support will first lie at the confluence of the 100SMA and the $270 pivot, followed by the 20EMA at $268.03 and the $267 pivot, then $265, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at $273, $275.5, $280, $284.10, and all time highs at $286.63.

 

Small Cap Watch List

*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.

**Others On Watch**

M, BOOT

Economic Calendar

 8:30  Fed Pres. Bostic Speaks

 8:30  Housing Starts

 9:15  Industrial Production

10:30  EIA Petroleum Status Report

 6:30  Fed Pres. Bullard Speaks

 

Notable Earnings Before Open
Macy’s Inc (M) – EPS Est. $0.36

 

Notable Earnings After Close

Cisco (CSCO) – EPS Est. $0.59

Take-Two Interactive (TTWO) – EPS Est. $0.44