Hot Stocks To Watch 8/8/2018

1745

Wednesday August 8, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures are slightly lower and European stocks are flat in early morning trading. The trade war between the US and China is in the headlines again after the US announced $16b in tariffs that will go in effect in 2 weeks. Brexit risks are holding European stocks down on new concerns that the UK and EU will not agree on exit terms. Asian markets settled mixed on the day.

 

Technicals

The SPY traded in a tight range in yesterday’s session. Support will first lie at the 20EMA of $281.11, followed by the $279.5 pivot, gap entry of $276.5, then gap fill at $275.84, the $275.5 pivot, then the $274 pivot and 100SMA at $272.13. It continues at the pivot and 200SMA at $270, then pivots at $267, $265, $259.05, $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will first lie at yesterday’s highs of $286.01 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**

 

AAOI, LITE, PZZA, TSLA

 

Economic Calendar

 8:45  Fed Pres. Barkin Speaks

10:30  EIA Petroleum Status Report

 

Notable Earnings Before Open
CVS Health (CVS) – EPS Est. $1.61

Weibo (WB) – EPS Est. $0.61

Mylan (MYL) – EPS Est. $1.23

 

Notable Earnings After Close

Roku (ROKU) – EPS Est. $-0.15

Monster Beverage (MNST) – EPS Est. $0.47

 

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