Morning Stock Prep – Watchlist for June 4, 2019

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    Morning Stock Prep – Watchlist for June 4, 2019

    Markets are opening up with a gap up today, currently the $SPY is about .8%. Markets are still very volatile, being tweet and headline sensitive. There were some comments from the FED saying they would consider lower rates, if the market continues downward. The $SPY is currently right around the 200 SMA; crossing over with strength could get a move higher with some short cover, and a test and fail could cause a further drop.

    $AAPL yesterday had their annual Worldwide Developers Conference and announce a new Mac desktop, some upgrades and changes, along them using $AMD chip on the new Mac.

    $TSLA hit a new low, cracking the $180 level; let’s see what happens next.

    The DOJ yesterday announce they will be looking into $GOOGL, $AAPL, and $FB, and saw them drop quite a bit.
    Today, the Mexican president said that talks are going good and Optimistic believes a deal will be made before June 10th.

    Economic Data for Today:
    8:55am: Redbook
    10am: Factory Orders
    4:30pm: API Crude Oil Data

    Fed Speakers Scheduled Updated:
    9:45am: Fed Chair Powell
    3:45pm Fed Brainard

    Watchlist – Bullish
    $WTR – Could break out and run with clean air above.
    $AMD – Could get some buying based on the $AAPL news, and plenty of options activity yesterday.
    $LMT has a very interesting chart, could want to push into resistance level about $4 higher.
    $GILD – seems to be in a pattern, should move a little higher. Maybe a 2 week call option.
    $PLNT – is a up some in pre-market, would ike to see a pullback before moving higher.
    $MDXG – Could push over gap and move a little higher, I would consider longer term call options.

    Watchlist – Bearish
    $FB, and $TSLA continue a move lower.

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