Hot Stocks To Watch 5/17/2018

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Thursday May 17, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures and European shares are slightly lower this morning. Investors are waiting to see the outcome of today’s trade summit with China. European markets are on edge with political tensions that continue in Italy, which is spooking investors. Asian markets closed mixed on the session.

 

Technicals

The SPY melted higher in yesterday’s session, continuing its daily consolidation around the $273 pivot. Support will first lie at the confluence of the 100SMA  at 270.41 and the $270 pivot, followed by the 20EMA at $268.79 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**

WMT

Economic Calendar

 8:30  Philadelphia Fed Business Outlook Survey

 8:30  Weekly Unemployment Claims, expected 217k

10:45  Fed Pres. Kashkari Speaks

 

 

Notable Earnings Before Open
Walmart (WMT) – EPS Est. $1.13

 

Notable Earnings After Close

Nordstrom (JWN) – EPS Est. $0.42

 

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