Hot Stocks To Watch 5/29/2018

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Monday May 29, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures and European shares are lower coming off the extended holiday weekend. Losses are being led by a steep decline in Europe due to increased political risk in Italy with the forming of a new government. US crude oil prices dropped 2% overnight after talk of OPEC countries increasing supply to make up for lost supply. Asian markets settled the day mostly lower.

 

Technicals

The SPY traded within a tight range on Friday’s session and continued it’s consolidation pattern between the $273 pivot and the 100SMA. It is gapping lower to start the morning with the political uncertainty in Italy. Support will first lie at the 100SMA  at 270.71, followed by the 20EMA at $270.51 and the $270 pivot, then the $267 pivot, $265. It continues at the 200SMA at $263.11, 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**

OLED, MOMO

Economic Calendar

12:40AM  Fed Pres. Bullard Speaks

10:00  Consumer Confidence

Notable Earnings Before Open

Momo (MOMO) – EPS Est. $0.45

 

Notable Earnings After Close

Salesforce.com (CRM) – EPS Est. $0.18

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