Hot Stocks To Watch 5/23/2019

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Thursday May 23, 2019

Economic Calendar & Watch List

Morning Notes

US Futures are and European markets are lower in early trading. Global markets are under pressure this morning as near term hopes of a trade war resolution are waning. More countries are following the US with blacklisting China’s Huawei increasing tensions. Asian markets settled the session lower.

 

Technicals

The SPY traded in a constricted range in yesterday’s session, still remaining below the 20EMA. Support will first be found at $281.20, $280, the 200SMA at $277.40, and $275.50. Resistance first lies at $286.7, $287, followed by the 20EMA at $287.15, $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**

WB, LB

 

Economic Calendar

 8:30  Weekly Unemployment Claims, exp. 215k

10:00  New Home Sales

 1:00  Fed Pres. Kaplan, Barin, Bostic and Daily Speak

 

Notable Earnings Before Open

Weibo (WB) – EPS Est. $0.50

Best Buy (BBY) – EPS Est. $0.88

 

Notable Earnings After Close

Autodesk (ADSK) – EPS Est. $0.46

Intuit (INTU) – EPS Est. $5.41

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