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Good morning
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As we head into a long weekend the markets have continued to chop around in sideways action. In premarket equities were up slightly and are now down slightly, the dollar continues to show strength as gold and oil are slightly lower. Energy names could see a pullback after comments from Saudi energy minister comments on a boost in oil supply. Today will likely be a low volume continuation of the recent choppy action ahead of the holiday weekend. However, on days like this there can also be some crazy low float runners.
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1. ZOES getting crushed off earnings and guidance hitting all time lows in premarket could be a snap back bounce trade at some point potential day trade opp
2. MEIP Caxton Corporation Reports 9.1% Passive Stake in MEI Pharma Inc as of May 16, 2018 Nice looking daily 2.7- 3 area could act as support for a bounce
3. KEYW flirting with a 9 roll potential flat top break out looking for some follow through >may be a red to green play
4. TYME potential 4 test and roll nice pop with volume yesterday potential red to green play small floater look for 3.50 are to possibly act as support
5. KERX potential 5 support bounce pr this morning not reacting in premarket
6. VTGN gapping into potential price resistance off of patent news do not chase> could set up intra day for a day trade opp small floater tends to pop and flop
Today's Economic Calendar
8:30 Durable Goods
9:20 Fed's Powell: “Financial Stability and Central Bank Transparency”
10:00 Consumer Sentiment
11:45 Fed's Evans Speech
11:45 Fed's Bostic Speech
11:45 Fed's Kaplan Speech
1:00 PM Baker-Hughes Rig Count
SIFMA close 2:00 PM
