Hot Stocks To Watch 6/5/2018

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Tuesday June 5, 2018

 

 

Economic Calendar & Watch List

 

Morning Notes

US Futures and European shares are modestly higher in early trading. The S&P broke out of a consolidation pattern and hit 2 ½ month highs in yesterday’s session, lead in part by a boost in the technology sector and is still helping boost the markets this morning. Action is somewhat subdued as investors are waiting to react to this weekends G7 summit. Limiting gains is a drop in crude prices with a rumored possible increase in output by OPEC countries. Asian markets were mostly higher on the session.

 

Technicals

The SPY broke out of its consolidation pattern and traded near its $275 pivot in a constricted range on lighter than average volume. Support will first lie at the $274 swing high pivot area, followed by the 20EMA at $271.28, the 100SMA  at 270.68, then pivots at $270, $267 and $265. It continues at the 200SMA at $263.78, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at $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**

FSLR, CCL

Economic Calendar

 8:55  Redbook

10:00  JOLTS Report

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

YY (YY) – EPS Est. $1.52

Ambarella (AMBA) – EPS Est. $0.09