Hot Stocks To Watch 5/24/2018

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Thursday May 24, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures and European shares are slightly higher in early trading. European stocks are seeing gains from further reduction in geopolitical and financial risk from Italy. Gains are being limited as Pres. Trump announced an investigation into determining if there should be an increase in tariffs on auto imports to the US. Asian markets settled mixed on the day.

 

Technicals

The SPY is continuing to be range bound and is consolidating above the 100SMA. Support will first lie at the 100SMA  at 270.62, followed by the confluence of the 20EMA and the $270 pivot, then the $267 pivot, $265. It continues at the 200SMA at $262.86, 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**

LB, BBY, WHR

Economic Calendar

 4:15  Fed Pres. Dudley Speaks

 8:30  Weekly Unemployment Claims, expected 220k

 2:00  Fed Pres. Harker Speaks

 

 

Notable Earnings Before Open
Best Buy (BBY) – EPS Est. $0.75

 

Notable Earnings After Close

Autodesk (ADSK) – EPS Est. $0.03

Ross Stores (ROST) – EPS Est. $1.06

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