Hot Stocks To Watch 5/30/2018

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Wednesday May 30, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures and European shares are slightly higher in early trading. Strong economic data out of Europe is helping push markets higher. German unemployment numbers came in less than expected and Eurozone economic confidence came in higher than expected. Also, there are some easing of tensions in the Italy political crisis. Asian markets settled lower on the session.

 

Technicals

The SPY started to break its consolidation pattern in yesterday’s session selling off to the $267 pivot and then regaining the 20EMA and 100SMA in the premarket. Support will first lie at the 100SMA  at 270.69, followed by the 20EMA at $270.37 and the $270 pivot, then the $267 pivot, $265. It continues at the 200SMA at $263.24, 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**

KORS, CRM, DKS

Economic Calendar

 8:15  ADP Employment Report

 8:30  GDP, expected 2.2%

 8:30  International Trade In Goods

Notable Earnings Before Open

Dick’s Sporting Goods (DKS) – EPS Est. $0.42

DSW (DSW) – EPS Est. $0.36

Michael Kors Holdings Limited (KORS) – EPS Est. $0.60

 

Notable Earnings After Close

Box, Inc. (BOX) – EPS Est. $-0.27

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