Traders will be watching to see if the market can sustain the momentum it built on Tuesday on the heels of another rescue package for ailing Greece. Keep your eyes on the U.S. dollar index also, the index’s recent 4 decline has coincided with the markets recent 4 day rally. Coincidence? We think not.
The market will also be eying reports on construction spending and automobile sales. In addition, the ISM manufacturing index and ADP’s employment report for May will be closely followed, especially with the weak manufacturing & jobs data points out recently. 1,350-1,360 becomes the next resistance zone to watch while bulls will hope to see 1,330-1,340 prove solid support.
Earnings are due out from Coldwater Creek (CWTR), Daktronics (DAKT), Dollar General (DG), and Vera Bradley (VRA).
We’ll be paying especially close attention to MCET. Read our article about our alert on MCET that netted members over 200% in gains here. Here are some other stocks on our watch list heading into the trading day: AWSR, XG, AUMY, GTGP, VLCO, XG, SUNV, ICOG, RMGX, SKGP, DMDD, ADTR, ALXA, GNYS, ASGN, BRKS, VMCI, CMEY, WAMUQ, & AIS.
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