May 28th Watchlist
Futures are up significantly this morning as global markets start to heal after last week's reversal to the downside. A bounce like this was expected to some extent considering the explosiveness of the sell-off. Now the effort has to be put in to understand if the weakness was just temporary and the market has plans to push even higher. We have Case-Schiller Home Prices coming out at 9 AM & Consumer Confidence hitting the street soon after at 10 AM so be sure to watch for a reaction in the broad indexes.
Tiffany (NYSE: TIF) reported earnings and is subsequently up around 6% in the premarkets. Tesla (NASDAQ: TSLA) has finally reached the $100 level and looks ready to open squarely above. The Financials are looking very bullish this morning especially Bank of America (NYSE: BAC).
Watching the indexes off the open will be key and I would recommend waiting for a solid 20/30 minutes before building any kind of plan of attack. I plan to keep my position size light this week and protect my stellar gains for the month of May.
GOOD MORNING YOUNG WORLD!
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.