5 Mid Caps for Momentum Investors

Today I used Barchart to sort the S&P 400 Mid Cap Index stocks to find the 5 best Mid Caps for Momentum Investors.  First I sorted by the most frequent number of new highs in the last month, then again for technical buy signals of over 80%.  Next I used the Flipchart feature to review the charts for consistency.  Today's watch list additions include:

UGI Corp (UGI), IDEXX Laboratories (IDXX), CDK Global (CDK), Gartner (IT), and  Arthur L Gallagher (AJG)

UGI Corp (UGI)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 17 new highs and up 7.55% in the last month
• Relative Strength Index 68.24%
• Technical support level at 42.92
• Recently traded at 43.43 with a 50 day moving average of 40.95

IDEXX Laboratories (IDXX)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 17 new highs and up 9.94% in the last month
• Relative Strength Index 69.81%
• Technical support level at 88.95
• Recently traded at 90.07 with 50 day moving average of 82.72

CDK Global (CDK)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up14.87% in the last month
• Relative Strength Index 80.66%
• Technical support level at 54.03
• Recently traded at 55.16 with a 50 day moving average of 48.81

Gartner (IT)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 16.24% in the last month
• Relative Strength Index 76.66%
• Technical support level at 101.02
• Recently traded at 102.35 with a 50 day moving average of 91.57

Arthur J Gallagher (AJG)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 6.78% in the last month
• Relative Strength Index 67.12%
• Technical support level at 47.45
• Recently traded at 48.20 with a 50 day moving average of 45.66

Gartner - Chart of the Day

Gartner (IT) is the Barchart Chart of the Day.  The management services company has a Trend Spotter buy signal, a Weighted Alpha of 23.70+ and gained 15.77 in the last year.

The Chart of the Day belongs to Gartner (IT).  I found the management services stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month, then again for technical buy signals of 80% or more. Next I always use the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 3/18 the stock gained 19.36%.

Gartner, Inc. is a research and advisory firm that helps clients understand technology and drive business growth. Gartner's divisions consist of Gartner Research, Gartner Consulting, Gartner Measurement and Gartner Events. Gartner has the most comprehensive body of global research that reports on and analyzes the technologies that drive business and organizational success. Gartner Consulting leverages the company's industry-leading research capabilities to deliver hands-on client support, from strategy to measurable results.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 16.24% in the last month
• Relative Strength Index 76.66%
• Technical support level 101.02
• Recently traded at 102.35 with a 50 day moving average of 91.57

Fundamental factors:

• Market Cap $8.44 billion
• P/E 38.60
• Revenue expected to grow 12.70% this year and another 11.70% next year
• Earnings estimated to increase 17.20% this year, 16.10% next year and compound at an annual rate of 15.35% for the next 5 years
• Wall Street analysts issued 2 strong buy, 4 buy and 7 hold recommendations on the stock

5 Large Caps for Momentum Investors

This morning I used Barchart to sort the S&P 500 Large Cap Index stocks first for the highest technical buy signals, then I used the Flipchart feature to review the charts for consistency.  Today's additions to the watch list include:

Zimmer Bionet (ZBH), Pentair (PNR), Northern Trust (NTRS), March & McLennan (MMC) and Loews (L)

Zimmer Bionet (ZBH)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 8 new highs and up 6.32% in the last month
• Relative Strength Index 76.83%
• Technical support level at 120.45
• Recently traded at 122.85 with a 50 day moving average of 112.97

Pentair (PNR)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 5 new highs and up .97% in the last month
• Relative Strength Index 61.47%
• Technical support level at 59.89
• Recently traded at 60.29 with a 50 day moving average of 56.23

Northern Trust (NTRS)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 4 new highs and up 2.08% in the last month
• Relative Strength Index 65.59%
• Technical support level at 72.92
• Recently traded at 73.70 with a 50 day moving average of 68.78

Marsh & McLennan (MMC)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 5.82% in the last month
• Relative Strength Index 71.14%
• Technical support level at 65.22
• Recently traded at 65.85 with a 50 day moving average of 62.52

Loews (L)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 4 new highs and up .95% in the last month
• Relative Strength Index 60.30%
• Technical support level at 40.01
• Recently traded at 40.63 with  a 50 day moving average of 39.31

MORNING CALL 5/27

MORNING CALL

Friday, May 27th, 2016View Older Reports

Everything you need to know about the markets in one free daily newsletter.

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 +0.08%) are up +0.07% and European stocks are up +0.16% at a 4-week high as the market waits a speech later today from Fed Chair Yellen that may signal the timing of the Fed's next interest rate increase. Mining stocks and raw-material producers are higher as the price of copper (HGN16 +0.64%) climbs +0.78% on signs of tighter global supplies. LME copper inventories dropped -2,225 MT to 153,750 MT, a 4-week low, and weekly Shanghai copper inventories fell -36,122 MT to 221,212 MT, a 4-month low. On the negative side, energy producers were lower as the price of crude oil (CLN16 -0.81%) slips -0.93% as Canadian oil-sands producers moved to resume operations after wildfires eased. Asian stocks settled mostly higher: Japan +0.37%, Hong Kong +0.88%, China -0.05%, Taiwan +0.83%, Australia +0.33%, Singapore +1.05%, South Korea +0.53%, India +1.09%.

The dollar index (DXY00 +0.09%) is up +0.09%. EUR/USD (^EURUSD) is down -0.13%. USD/JPY (^USDJPY) is down -0.11%.

Jun T-note prices (ZNM16 -0.06%) are down -1.5 ticks.

In the final communique from the G-7 summit in Japan, G-7 nations said they will use "all policy tools; monetary, fiscal and structural, individually and collectively, to strengthen global demand and address supply constraints while continuing our efforts to put debt on a sustainable path."

Japan Apr national CPI fell -0.3% y/y, less than expectations of -0.4% y/y. Apr national CPI ex fresh food fell -0.3% y/y, a smaller decline than expectations of -0.4% y/y. Apr national CPI ex food & energy rose +0.7% y/y, right on expectations.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) revised Q1 GDP (expected +0.9% q/q annualized, previous +0.5%), (2) final-May University of Michigan U.S. consumer sentiment index (expected -0.4 to 95.4, prelim-May +6.8 to 95.8), (3) Fed Chair Yellen speaks at Harvard University’s Radcliffe Day.

There is 1 of the Russell 1000 companies that report earnings today: Golar LNG (consensus -$0.42).

U.S. IPO's scheduled to price today: none.

Equity conferences today: none.

OVERNIGHT U.S. STOCK MOVERS

Ulta Salon Cosmetics & Fragrance (ULTA +1.05%) rallied nearly 8% in pre-market trading after it reported Q1 EPS of $1.45, higher than consensus of $1.29, and said it sees full-year EPS growth in the low twenties percentage range versus a prior view of up 18%-20%.

Monsanto (MON -1.84%) was downgraded to 'Neutral' from 'Overweight' at Atlantic Equities with a 12-month price target of $105.

GameStop (GME +0.84%) dropped over 8% in after-hours trading after it said it sees Q2 adjusted EPS of 23 cents-30 cents, below consensus of 33 cents.

Duluth Holdings (DLTH -0.96%) was rated a new 'Buy' at Stifel with a 12-month price target of $28.

Terex (TEX -3.45%) was downgraded to 'Hold' from 'Buy' at Evercore ISI with a 12-month price target of $21.

Caleres (CAL +1.16%) lost 1% in after-hours trading after it reported Q1 EPS of 41 cents, below consensus of 43 cents, and then lowered guidance on full-year revenue to $2.60 billion-$2.63 billion from a March 15 view of $2.65 billion-$2.68 billion, below consensus of $2.66 billion.

Veeva Systems (VEEV -0.43%) jumped 10% in after-hours trading after it reported Q1 adjusted EPS of 15 cents, higher than consensus of 11 cents, and then raised its full-year revenue estimate to $516 million-$520 million from a prior view of $508 million-$513 million, above consensus of $512.1 million.

Palo Alto Networks (PANW +1.71%) sank 11% in pre-market trading after it reported Q3 adjusted EPS of 42 cents, right on consensus, but said it sees Q4 adjusted EPS of 48 cents-50 cents, below consensus of 50 cents.

Deckers Outdoor (DECK +0.61%) fell over 2% in after-hours trading after it said it sees full-year net sales of unchanged to down -3%, weaker than estimates of up +2%, and then lowered guidance on full-year adjusted EPS to $4.05-$4.40, below consensus of $4.61.

First Data Corp. (FDC +1.39%) gained 1% in after-hours trading after Vice Chairman Plumeri disclosed a purchase of 250,000 shares of the company's stock on Wednesday.

BG Staffing (BGSF -0.24%) slumped over 14% in after-hours trading after it announced a public offering of stock, although no terms were available at the time of this writing.

21Vianet Group (VNET +6.09%) slid 4% in after-hours trading after it reported a Q1 adjusted loss/Ads of 13 cents and Q1 gross margins of 19.6% versus 26.8% y/y.

Splunk (SPLK +1.05%) dropped over 7% in after-hours trading despite reporting a -2 cent Q1 adjusted EPS loss, right on consensus.

Titan Pharmaceuticals (TTNP +1.29%) surged 23% in after-hours trading after it said it will receive a $15 million payment from partner Braeburn Pharma, double-digit royalties and up to $165 million is sales milestones following FDA approval of its Probuphine implant.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.08%) this morning are up +1.50 points (+0.07%). Thursday's closes: S&P 500 +0.70%, Dow Jones +0.82%, Nasdaq +0.72%. The S&P 500 on Thursday closed little changed. Stocks were undercut by the unexpected -0.8% decline in U.S. Apr capital goods orders non-defense ex-aircraft, weaker than expectations of +0.3% and the third straight monthly decline. There was also some long liquidation pressure and position-squaring ahead of Friday's speech from Fed Chair Yellen that may signal the timing of the next Fed rate hike. Stocks found support from the-10,000 decline in U.S. weekly initial unemployment claims (vs expectations of -3,000 to 275,000) and from the +5.1% m/m increase in U.S. Apr pending home sales, stronger than expectations of +0.7% m/m and the largest monthly increase in 5-1/2 years.

June 10-year T-note prices (ZNM16 -0.06%) this morning are down -1.5 ticks. Thursday's closes: TYM6 +13.50, FVM6 +9.00. Jun T-notes on Thursday closed higher on U.S. economic concerns after Apr capital goods orders non-defense ex-aircraft, a gauge of capital spending, unexpectedly fell -0.8%, the third straight monthly decline. T-notes were also boosted by strong demand for the Treasury's $28 billion auction of 7-year T-notes that had a bid-to-cover ratio of 2.57, above the 12-auction average of 2.49.

The dollar index (DXY00 +0.09%) this morning is up +0.090 (+0.09%). EUR/USD (^EURUSD) is down -0.0015 (-0.13%). USD/JPY (^USDJPY) is down-0.12 (-0.11%). Thursday's closes: Dollar Index -0.186 (-0.20%), EUR/USD +0.0039 (+0.35%), USD/JPY -0.43 (-0.39%). The dollar index on Thursday closed lower on the unexpected decline in U.S. Apr capital goods orders non-defense ex-aircraft, a sign of weakness in capital spending that may give the Fed pause on additional rate hikes. The dollar was also undercut by the slide in USD/JPY as weak stocks boosted the safe-haven demand for the yen.

July WTI crude oil (CLN16 -0.81%) this morning is down -46 cents (-0.93%). July gasoline (RBN16 -0.72%) is down -0.0157 (-0.97%). Thursday's closes: CLN6 -0.16 (-0.32%), RBN6 -0.0219 (-1.33%). July crude and gasoline on Thursday closed lower as July crude retreated from a 7-1/2 month high. Crude oil was undercut by profit-taking after the sharp 3-month rally and by the restart of oil-sands facilities in Alberta as wildfire risks abated. Crude oil found underlying support from the weaker dollar.

GLOBAL EVENT CALENDAR05/27/2016

US	0830 ET	Revised Q1 GDP expected +0.9% (q/q annualized), previous +0.5%. Q1 personal consumption expected +2.1%, previous +1.9%. Q1 GDP price index, previous +0.7%. Q1 core PCE, previous +2.1% q/q.
	1000 ET	Final-May University of Michigan U.S. consumer sentiment index expected -0.4 to 95.4, prelim-May +6.8 to 95.8.
	1315 ET	Fed Chair Yellen will speak at Harvard Universitys Radcliffe Day.

U.S. STOCK CALENDAR05/27/2016

Company	Ticker	Time	Event Description	Period	Estimate
Multi-Color Corp	LABL US	8:30	Q4 2016 Earnings Release	Q4 2016	0.78
Big Lots Inc	BIG US		Q1 2017 Earnings Release	Q1 2017	0.701
Hawkins Inc	HWKN US		Q4 2016 Earnings Release	Q4 2016
Golar LNG Ltd	GLNG US		Q1 2016 Earnings Release	Q1 2016	-0.424

Ryerson Holdings -- Chart of the Day

Ryerson Holdings (RYI) is the Barchart Chart of the Day.  The metals company has a Trend Spotter buy signal, a Weighted Alpha of 155.10+ and gained 182.48% in the last 6 months.

The Chart of the Day belongs to Ryerson Holdings (RYI).  I found the metals stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month then again for technical buy signals over 80%.  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 3/4 the stock gained 296.37%.

Ryerson Holding Corporation is a services company that processes and distributes metals. The Company, through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel, and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. Ryerson Holding Corporation is headquartered in Chicago.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 73.16% in the last month
• Relative Strength Index 80.98%
• Technical support level at 12.99
• Recently traded at 13.87 with a 50 day moving average of 8.08

Fundamental factors:

• Market Cap $445.23 million
• P/E 24.33
• Revenue expected to be down 7.10% this year but up again by 5.70% next year
• Earnings estimated to increase 212.80% this year an additional 4.90% next year and continue to compound at an annual rate of 49.28% for the next 5 years
• Wall Street analysts issued 1 buy and 6 hold recommendations on the stock

My TA Take

My market proxy is the Value Line Arithmetic Index.  When I want to look at long term trends I like to compare that Index to the 20, 50 and 100 week moving averages and the 14 week turtle channel.

As you can see not only is the Value Line Arithmetic Index above all its weekly moving averages but the 14 week turtle channel is showing that a bottom was reached with a double bounce in January and February and has had steady upward momentum since then.

I realize that the economy and the stock market are not the same but in the long run they do eventually run in the same direction.  The Conference Board's Leading Economic Indicators are still rising.  LINK to LEI Report

When both the stock market and the Leading Economic Indicators are running in the same direction I follow their lead.

MORNING CALL 5/26

MORNING CALL

Thursday, May 26th, 2016View Older Reports

Everything you need to know about the markets in one free daily newsletter.

E-mail:  

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 +0.12%) are up +0.13% and European stocks are up +0.08% as energy producing stocks strengthen with the price of crude oil (CLN16 +0.67%) up +0.67% at a fresh 7-1/2 month high. Increased M&A activity is giving stocks a boost as well with Yahoo up nearly 4% in pre-market trading after people familiar with the matter said AT&T made a bid for the company. Mining stocks also rallied, with Arcelor Mittal and Anglo American Plc both up more than 4.5%, as the price of copper (HGN16 +0.55%) is up +0.62% at a 2-week high. Gains in European stocks were limited by weakness in bank stocks, as Banco Popular Espanol SA plunged -20% after it said it will raise about 2.5 billion euros ($2.79 billion) by selling new shares. Asian stocks settled mostly higher: Japan +0.09%, Hong Kong +0.14%, China +0.26%, Taiwan -0.02%, Australia+0.29%, Singapore +0.24%, South Korea -0.14%, India +1.88%.

The dollar index (DXY00 -0.13%) is down -0.16%. EUR/USD (^EURUSD) is up +0.21%. USD/JPY (^USDJPY) is down -0.19%.

Jun T-note prices (ZNM16 -0.01%) are little changed, down -0.5 of a tick.

Speaking in Singapore, St. Louis Fed President Bullard (voter) said that market expectations for a June interest rate hike are "substantially positive" and that the FOMC can vary the rate rise pace depending on the world and the U.S.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) St. Louis Fed President James Bullard (voter) delivers a presentation to the Official Monetary and Financial Institutions Forum in Singapore, (2) weekly initial unemployment claims (expected -3,000 to 275,000, previous -16,000 to 278,000) and continuing claims (expected -12,000 to 2.140 million, previous -13,000 to 2.152 million), (3) Apr durable goods orders (expected +0.5% and +0.3% ex-transportation, Mar +0.8% and -0.2% ex-transportation), (4) Apr pending home sales (expected +0.7% m/m and +0.1% y/y, Mar +1.4% m/m and +2.9% y/y), (5) May Kansas City Fed manufacturing activity (expected +1 to -3, Apr +2 to -4), (6) Fed Governor Jerome Powell discusses “Recent Economic Developments, the Productive Potential of the Economy, and Monetary Policy” at the Peterson Institute for International Economics in Washington D.C., (7) the Treasury's auction of $28 billion of 7-year T-notes, and (8) USDA weekly Export Sales.

There are 5 of the S&P 500 companies that report earnings today: Dollar Tree (consensus $0.81), Patterson Cos (0.75), Signet Jewelers (1.94), Ulta Salon (1.29), Dollar General (0.95).

U.S. IPO's scheduled to price today: none.

Equity conferences during the remainder of this week include: none.

OVERNIGHT U.S. STOCK MOVERS

Yahoo! (YHOO -5.17%) rose nearly 4% in pre-market trading after people familiar with the matter said AT&T made a bid for the company.

HP Inc. (HPQ +2.43%) gained 2% in European trading after it reported Q2 adjusted EPS continuing operations of 41 cents, better than consensus of 38 cents.

Williams-Sonoma (WSM +2.40%) climbed over 3% in after-hours trading after it reported Q1 adjusted EPS of 53 cents, higher than consensus of 50 cents.

NetApp (NTAP +1.23%) sank nearly 8% in after-hours trading after it reported Q4 adjusted EPS of 55 cents, weaker than consensus of 58 cents, and said it sees Q1 adjusted EPS of 34 cnts-30 cents, below consensus of 45 cents

PVH (PVH +0.91%) climbed over 6% in after-hours trading after it reported Q1 adjusted EPS of $1.50, higher than consensus of $1.43, and then raised guidance on full-year adjusted EPS to $6.45-$6.55 from a March 23 view of $6.30-$6.50.

Infoblox (BLOX +0.87%) lost over 3% in after-hours trading after it said it sees Q4 adjusted EPS of 5 cents-7 cents, below consensus of 7 cents.

Guess? (GES +1.17%) fell nearly 2% in after-hours trading after it lowered guidance on full-year adjusted EPS to 55 cents-75 cents from a March 16 estimate of 65 cents-85 cents, below consensus of 77 cents,

Trinity Industries (TRN +4.63%) gained almost 1% in after-hours trading after it reported a new $940 million order for wind towers.

CSRA (CSRA +0.79%) lost nearly 1% in after-hours trading after it reported Q4 adjusted EPS of 50 cents, better than consensus of 48 cents, but Q4 revenue of $1.29 billion was below consensus of $1.31 billion.

The Rubicon Project (RUBI +1.53%) slipped 3% in after-hours trading after CFO Todd Tappin resigned to assume the role of president at another company.

WebMD Health (WDMD) dropped over 4% in after-hours trading after it announced that it will offer $300 million of convertible notes due 2023 in a private placement.

Popeyes Louisiana Kitchen (PLKI -0.46%) slid nearly 7% in after-hours trading after it reported Q1 adjusted EPS of 58 cents, below consensus of 64 cents.

Lions Gate Entertainment (LGF +0.20%) jumped over 13% in after-hours trading after it reported Q4 adjusted EPS of 26 cents, well above consensus of 2 cents.

Pure Storage (PSTG +1.10%) tumbled 15% in after-hours trading after it reported that its Q1 operating margin dropped -45.6% versus -28.6% q/q.

Cempra (CEMP +3.43%) climbed nearly 5% in after-hours trading after it said its solithromycin had successful results in its Phase 2 study of community-acquire bacterial pneumonia conducted by Japanese partner Toyama Chemical.

Paragon Shipping (PRGN -0.63%) plunged nearly 50% in after-hours trading after it received a notice of non-compliance from NASDAQ because the company's stockholders' equity as of Dec 31, 2015 was below the $2.5 million requirement. Therefore, the company no longer meets requirement for the NASDAQ and will have to transfer its listing to the OTC market.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.12%) this morning are up +2.75 points (+0.13%). Wednesday's closes: S&P 500 +0.70%, Dow Jones +0.82%, Nasdaq +0.72%. The S&P 500 on Wednesday rose to a 3-week high and closed higher on strength in energy producers after crude oil rallied to a 7-1/2 month high and on increased M&A activity after HP rallied by +9% after it said it will merge its enterprise-services division with Computer Sciences Corp. Stocks were undercut by the unexpected -1.6 point decline in the May Markit U.S. services PMI index to 51.2, weaker than expectations of +0.2 to 53.0.

June 10-year T-note prices (ZNM16 -0.01%) this morning are down -0.5 of a tick. Wednesday's closes: TYM6 -3.00, FVM6 -1.00. Jun T-notes on Wednesday closed lower on supply pressures as the Treasury auctioned $47 billion of 5-year T-notes and 2-year floating rate notes and on reduced safe-haven demand after the S&P 500 climbed to a 3-week high. T-notes found support from the unexpected -1.6 point decline in the May Markit U.S. services PMI index.

The dollar index (DXY00 -0.13%) this morning is down -0.150 (-0.16%). EUR/USD (^EURUSD) is up +0.0023 (+0.21%). USD/JPY (^USDJPY) is down-0.21 (-0.19%). Wednesday's closes: Dollar Index -0.217 (-0.23%), EUR/USD +0.0014 (+0.13%), USD/JPY +0.20 (+0.18%). The dollar index on Wednesday closed lower on the unexpected decline in the U.S. May Markit services PMI index, which was a sign of economic weakness that may give the Fed pause on raising interest rates. The dollar was also undercut by strength in EUR/USD after the German May IFO business climate index rose to a 5-month high.

July WTI crude oil (CLN16 +0.67%) this morning is up +33 cents (+0.67%) at a fresh 7-1/2 month high. July gasoline (RBN16 +0.14%) is up +0.0042 (+0.25%). Wednesday's closes: CLN6 +0.94 (+1.93%), RBN6 -0.0086 (-0.52%). July crude oil and gasoline on Wednesday settled mixed with July crude at a 7-1/2 month high. Crude oil prices were boosted by the -4.23 million bbl decline in weekly EIA crude inventories, more than expectations of-2.0 million bbl. Crude oil prices were also boosted by the -0.3% decline in U.S. crude production in the week ended May 20 to a 1-1/2 year low of 8.767 million bpd. Gasoline closed lower after weekly EIA gasoline stockpiles unexpectedly rose +2.04 million bbl, more than expectations of -1.5 million bbl.

GLOBAL EVENT CALENDAR05/26/2016

US	0610 ET	St. Louis Fed President James Bullard (voter) delivers a presentation to the Official Monetary and Financial Institutions Forum in Singapore.
	0830 ET	Weekly initial unemployment claims expected -3,000 to 275,000, previous -16,000 to 278,000. Weekly continuing claims expected-12,000 to 2.140 million, previous -13,000 to 2.152 million.
	0830 ET	Apr durable goods orders expected +0.5% and +0.3% ex transportation, Mar +0.8% and -0.2% ex transportation. Apr capital goods orders non-defense ex-aircraft expected +0.3%, Mar +0.1%
	0830 ET	USDA weekly Export Sales.
	1000 ET	Apr pending home sales expected +0.7% m/m and +0.1% y/y, Mar +1.4% m/m and +2.9% y/y
	1100 ET	May Kansas City Fed manufacturing activity expected +1 to -3, Apr +2 to -4.
	1200 ET	Fed Governor Jerome Powell will discuss Recent Economic Developments, the Productive Potential of the Economy, and Monetary Policy at the Peterson Institute for International Economics in Washington D.C.
	1300 ET	Treasury auctions $28 billion of 7-year T-notes.
UK	0430 ET	Revised UK Q1 GDP, previous +0.4% q/q and +2.1% y/y.
	0430 ET	UK Mar index of services expected +0.2% m/m and +0.6% 3-mo/3-mo, Feb +0.1% m/m and +0.7% 3-mo/3-mo.
	0430 ET	UK Q1 total business investment, Q4 -2.0% q/q and +3.0% y/y.
	1905 ET	UK May GfK consumer confidence expected -1 to -4, Apr -3 to -3.
JPN	1930 ET	Japan Apr national CPI expected -0.4% y/y, Mar -0.1% y/y. Apr national CPI ex-fresh food expected -0.4% y/y, Mar -0.3% y/y. Apr national CPI ex food & energy expected +0.7% y/y, Mar +0.7% y/y.
	1930 ET	Japan May Tokyo CPI expected -0.5% y/y, Apr -0.4% y/y. May Tokyo CPI ex-fresh food expected -0.4% y/y, Apr -0.3% y/y. May Tokyo CPI ex food & energy expected +0.6% y/y, Apr +0.6% y/y.
CHI	2130 ET	China Apr industrial profits, Mar +11.1% y/y.

U.S. STOCK CALENDAR05/26/2016

Company	Ticker	Time	Event Description	Period	Estimate
Patterson Cos Inc	PDCO US	Bef-mkt	Q4 2016 Earnings Release	Q4 2016	0.754
Dollar Tree Inc	DLTR US	Bef-mkt	Q1 2017 Earnings Release	Q1 2017	0.808
Signet Jewelers Ltd	SIG US	7:00	Q1 2017 Earnings Release	Q1 2017	1.943
Symantec Corp	SYMC US	8:30	Analyst Day	Y 2016
Signet Jewelers Ltd	SIG US	8:30	Q1 2017 Earnings Call	Q1 2017
PVH Corp	PVH US	9:00	Q1 2017 Earnings Call	Q1 2017
Dollar Tree Inc	DLTR US	9:00	Q1 2017 Earnings Call	Q1 2017
Leucadia National Corp	LUK US	10:00	Annual General Meeting
McDonald's Corp	MCD US	10:00	Annual General Meeting	Y 2016
Owens-Illinois Inc	OI US	10:00	Annual General Meeting	Y 2016
Patterson Cos Inc	PDCO US	10:00	Q4 2016 Earnings Call	Q4 2016
Dollar General Corp	DG US	10:00	Q1 2017 Earnings Call	Q1 2017
Raytheon Co	RTN US	11:00	Annual General Meeting
Costco Wholesale Corp	COST US	11:00	Q3 2016 Earnings Call	Q3 2016
Navient Corp	NAVI US	11:00	Annual General Meeting
Danaher Corp	DHR US	12:00	Analyst and Investor Meeting	Y 2016
Western Digital Corp	WDC US	17:00	Q4 2016 Guidance Call	Q4 2016
Ulta Salon Cosmetics & Fragrance Inc	ULTA US	17:00	Q1 2017 Earnings Call	Q1 2017
Ulta Salon Cosmetics & Fragrance Inc	ULTA US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	1.292
Tiffany & Co	TIF US		Annual General Meeting
Unum Group	UNM US		Annual General Meeting
CBS Corp	CBS US		Annual General Meeting
Macerich Co/The	MAC US		Annual General Meeting
Quanta Services Inc	PWR US		Annual General Meeting
Dollar General Corp	DG US		Q1 2017 Earnings Release	Q1 2017	0.947

Heico Corp - Chart of the Day

Heico Corp (HEI) is the Barchart Chart of the Day.  The aircraft engine company has a Trend Spotter buy signal, a Weighted Alpha of 22.00+ and gained 26.67% in the last 6 months.

The Chart of the Day belongs to Heico Corp (HEI).  I found the aircraft engine stock by using Barchart to sort today's All Time High list first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or more,  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 5/2 the stock gained 4.88%.

Heico Corporation is engaged primarily in certain niche segments of the aviation, defense, space and electronics industries through its Hollywood, FL-based HEICO Aerospace Holdings Corp. subsidiary and its Miami, FL-based HEICO Electronic Technologies Corp. subsidiary. HEICO's customers include a majority of the world's airlines and airmotives as well as numerous defense and space contractors and military agencies worldwide in addition to telecommunications, electronics and medical equipment manufacturers.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 9.49% in the last month
• Relative Strength Index 64.69%
• Technical support level at 63.77
• Recently traded at 64.91 with a 50 day moving average of 61.09

Fundamental factors:

• Market Cap $ 4.34 billion
• P/E 31.46
• Dividend yield .25%
• No revenue and earnings projection were given
• Wall Street analysts issued 2 strong buy, 4 buy and 2 hold recommendations on the stock

UGI Corp - Chart of the Day

UGI Corp (UGI) is the Barchart Chart of the Day.  The utility distribution company has a Trend Spotter buy signal, a Weighted Alpha of 24.80+, gained 17.34% in the last year and paid a 2.14% dividend.

The Chart of the Day belongs to UGI Corp (UGI).  I found the utility distribution stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month, then again for technical buy signals of 80% or more.  Then I always use the Flipchart feature to review he charts for consistency.  Since the Trend spotter signaled a buy on 5/9 the stock gained 4.94%.

UGI Corporation is a holding company that operates propane distribution, gas and electric utility, energy marketing and related businesses through subsidiaries. Our majority-owned subsidiary, AmeriGas Partners, L.P., a Delaware limited partnership, conducts one of the nation's largest retail propane distribution businesses through its subsidiary AmeriGas Propane, L.P.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 8.63% in the last month
• Relative Strength Index 68.21%
• Technical support level at 42.19
• Recently traded at 43.31 with a 50 day moving average of 40.73

Fundamental factors:

• Market Cap $7.45 billion
• P/E 22.19
• Dividend yield 2.14%
• Revenue expected to be down 4.70% this year but grow again by 2.80% next year
• Earnings estimated to increase 1.00% this year, an additional 14.30% next year and compound at an annual rate of 8.00% for the next 5 years
• Wall Street analysts issued 1 strong buy and 4 hold recommendations on the stock

Markel Corp. - Chart of the Day

Markel Corp. (MKL) is the Barchart Chart of the Day.  the &C insurance company has a Trend Spotter buy signal, a Weighted Alpha of 27.50+ and gained 26.54% in the last year.


The Chart of the Day belongs to Markel Corp. (MKL).  I found the P&C insurance stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month then again for the technical buy signal of 80% or more.  Since the Trend Spotter signaled a buy on 5/3 the stock gained 6.25%.

Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 8.45% in the last month
• Relative Strength index 69.30%
• Technical support level at 969.35
• Recently traded at 976.44 with a 50 day moving average of 913.15

Fundamental factors:

• Market Cap $13.64 billion
• P/E 24.63
• Revenue expected to grow 3.10% this year and another 26.54% next year
• Earnings estimated to decrease 11.10% this year and an additional 9.10% next year but compound annually at an annual rate of 11.00% for the next 5 years
• Wall Streets analysts issued 1 strong buy and 3 hold recommendations on the stock