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

 

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Mike Herman Mike graduated from the Florida State University with a Real Estate and Bachelor of Finance degree and focused particularly in the field of Behavioral Finance. During his time at the Florida State University, Mike began to trade equities and quickly realized the opportunities that existed in the markets. Through trading, Mike had facilitated relationships with a few very experienced individuals who had an expertise in the private equity field. More specifically, the private funding of small cap start-up companies. After several years of successful deals as a venture capitalist, Mike made the decision to return to work as an independent trader. Throughout the past 7 years of working as an independent trader, Mike has refined his strategy to focus on news driven momentum while factoring in market sentiment and psychology with an emphasis on proper risk management. Mike possesses a unique ability to rapidly decipher critical market moving news and take appropriate action. You can contact Mike at mike@warriortradingnews.com Legal Disclaimer – This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

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