Hot Stocks To Watch 5/22/2018


Tuesday May 22, 2018

Economic Calendar & Watch List


Morning Notes

US Futures and European shares are higher this morning with more positive trade news coming out from China. Yesterday Chinese officials announced a reduction on automobile import tariffs from 25% to 15%. This after both the US and China announced over the weekend that they would suspend the implementation of proposed new tariffs on imports from each country. European markets are higher after political progress being made in forming a new government in Italy. Asian markets settled mixed on the session.



The SPY continued its daily consolidation between the $273 pivot and the 100SMA. Support will first lie at the confluence of the 100SMA  at 270.57 and the $270 pivot, followed by the 20EMA at $269.48 and the $267 pivot, then $265, the 200SMA at $262.57, 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**


Economic Calendar

 8:55  Redbook


Notable Earnings Before Open

AutoZone (AZO) – EPS Est. $12.99

TJX Companies (TJX) – EPS Est. $1.02

Advance Auto Parts (AAP) – EPS Est. $1.98


Notable Earnings After Close

Intuit (INTU) – EPS Est. $4.68