6 Stocks To Watch For The May 22 Trading Session

US Markets

  • S&P 500 Futures -2.25 points
  • 10-Year Yield 2.42%
  • Dollar Index 98.00
  • Oil $62.60
  • VIX 14.80

International Markets

  • Shanghai -0.49%
  • Japan Nikkei +0.05%
  • Hong Kong HSI +0.18%
  • South Korea KOSPI +0.18%
  • Germany DAX +0.30%
  • UK FTSE +0.44%

US STOCK MARKET – May 22

S&P 500 (SPY)

This morning the S&P 500 is dipping a touch, but at this point, it hasn’t had a significant impact on the trends I was pointing out in last nights commentary. The chart of the S&P 500 ETF SPY shows that the uptrend is still in place, and we will continue to watch to see how the brewing storm plays out. I continue to think that the convergence of trends will result in the S&P 500, rising back towards 2,915.

Qualcomm (QCOM)

Qualcomm is falling today after a federal court ruled that the company violated antitrust regulations. The Qualcomm is falling by about 8.5%. $70 is the significant support level that needs to hold for the stock, or it risks a decline back to $66. It makes you wonder why Apple settled so quickly, or what the real fallout from the judgment will be.

qualcomm, qcom

Target (TGT)

Target is rising after reporting better than expected results. I still think the stock and the company are in tight spot battling giants Amazon and Walmart. One can see in the chart below that the stock is hitting up against resistance at $78.

target, tgt

Apple (AAPL)

Apple is sinking this morning, giving back some of yesterday’s gain. We see the downtrend is still very much in control. $182 continues to be a significant level of support.

apple, aapl

Facebook (FB)

Facebook has fallen below support at $186 and is now struggling to rise back above it. For now, the uptrend is broken, and it could be suggesting the stock declines back to $173.

facebook, fb

Bank of America (BAC)

Bank of America is holding on to support currently at $28, but as I noted yesterday, I think the bank’s stocks could be heading lower. That means BofA could fall to around $26. Why Banks May Be Heading Lower

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Disclosure: Michael Kramer and the clients of Mott Capital own Apple

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice when the market ...

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