Hot Stocks To Watch 5/7/2019

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Tuesday May 7, 2019

Economic Calendar & Watch List

Morning Notes

US Futures and European markets are lower in early trading. Markets remain under pressure following the tariff comments from Pres. Trump over the weekend. Investors will be watching for any news to come out of the upcoming negotiations between the US and China with the proposed friday tariff hike looming. Asian markets settled the session mixed.  

 

Technicals

The SPY gapped sharply lower to start yesterday’s session testing and holding the $289.5 pivot then recovered the 20EMA and closed near the $293 pivot area. This morning we are looking to gap lower again at the 20EMA. Support will first be found at 20EMA of $290.68, $289.4, then $287.1, $286.6, $281.2, and the 200SMA at $277.03. Resistance lies at $293.2, and all time highs of $294.95

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**

AIG, XENT, MYL

 

Economic Calendar

 7:00  Fed Pres. Kaplan Speaks

10:00  JOLTS Report

 

Notable Earnings Before Open

Allergen (AGN) – EPS Est. $3.55

Lumentum Holdings (LITE) – EPS Est. $0.85

Mylan (MYL) – EPS Est. $0.79

 

Notable Earnings After Close

Electronic Arts (EA) – EPS Est. $0.96

Match Group (MTCH) – EPS Est. $0.32

ADT (ADT) – EPS Est. $0.31

TripAdvisor (TRIP) – EPS Est. $0.31

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