May 8th Watchlist
Premarket action is getting slightly weaker as we near the official open. We're looking at a mixed bag across the large-cap sectors yet again which could hint towards a choppy environment today and for the rest of the week. Finding the diamond trade in the rough will prove to be difficult once the volume starts to dry up everywhere.
No economic data on top for the day which means the market will be left to its own vices. After yesterday's action, it can be foreseen that we stay range bound on the broad indexes and the SPY contained between $162.50 and $162. Some of the major earnings that dropped in the overnight session were Whole Foods (NASDAQ: WFM), Disney (NYSE: DIS) & Electronic Arts (NASDAQ: EA).
I will be looking to lighten up my trading volume and to protect my recent gains which I've worked so hard to acquire. This means an increased focus today on not trading and moving towards the writing strategies to close out the week.
GOOD MORNING YOUNG WORLD!
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