Hot Stocks To Watch 5/16/2019

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Thursday May 16, 2019

Economic Calendar & Watch List

Morning Notes

US Futures are and European markets are slightly higher in early trading. Investors remained concerned as Pres. Trump issued another blow to US and China trade relations with banning companies in the US from using telecom equipment from companies it deems as national security threats, including Huawei. Markets are digesting this change and waiting to see what to expect while the US and China remain in trade negotiations. Asian markets settled the session mostly mixed.

 

Technicals

The SPY tested and held the $281 pivot area in yesterday’s session and continued higher in to the afternoon. Support will first be found at $281.20, $280, the 200SMA at $277.30, and $275.50. Resistance first lies at $286.7, $287, followed by the 20EMA at $287.99, $289.4, $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**

CSCO, WMT

 

Economic Calendar

 8:30  Housing Starts

 8:30  Weekly Unemployment Claims, exp. 219k

12:05  Fed Pres. Kashkari Speaks

 

Notable Earnings Before Open

Walmart (WMT) – EPS Est. $1.02

Wix.com (WIX) – EPS Est. $0.05

 

Notable Earnings After Close

NVDIA (NVDA) – EPS Est. $0.79

Baidu.com (BIDU) – EPS Est. $0.35

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