SILICON MOTION TECHNOLOGY - CHART OF THE DAY

Silicon Motion Technology (SIMO) is the Barchart Chart of the Day.   The semiconductor design company has a Trend Spotter buy signal, a Weighted Alpha of 48.00+ and gained 27.51% in the last year.

The Chart of the Day belongs to Silicon Motion Technology (SIMO).  I found the semiconductor design 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 better.  Next I used the Flipchart feature to review the stocks.  Since the Trend Spotter signaled a buy on 5/16 the stock rose 6.82%.

Silicon Motion Technology Corporation designs, develops and markets universally compatible and low-power semiconductor solutions for the multimedia consumer electronics market. The company sells its semiconductor solutions to original equipment manufacturers and design manufacturers worldwide.

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 10.45% in the last month
• Relative Strength Index 62.02%
• Technical support level at 42.84
• Recently traded at 44.50 with a 50 day moving average of 40.16

Fundamental factors:

• Market Cap $1.53 billion
• P/E 22.39
• Dividend yield 1.29%
• Revenue expected to grow 29.70% this year and another 9.90% next year
• Earnings estimated to increase 28.90% this year and an additional 16.50% next year
• Wall Street analysts issued 1 strong buy, 9 buy, 1 hold and 1 under perform recommendation on the stock

Thermo Fisher Scientific - Chart of the Day

Thermo Fisher Scientific (TMO) is the Barchart Chart of the Day.  The analytical instrument company has a Trend Spotter buy signal, a Weighted Alpha of 11.50+ and gained 18.51% in the last month.

The Chart of the Day belongs to Thermo Fisher Scientific (TMO).  I found the analytical instrument 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 5/6 the stock gained 4.48%.

Thermo Fisher Scientific Inc. provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics. The Company's four premier brands include Thermo Scientific, Life Technologies, Fisher Scientific and Unity Lab Services. Its portfolio of products includes technologies for mass spectrometry, elemental analysis, molecular spectroscopy, sample preparation, informatics, purity chemistry production, protein analysis, Ribonucleic acid (RNA)-interference techniques, immunodiagnos. Thermo Fisher Scientific Inc. is headquartered in Waltham, Massachusetts.

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
• 13 new highs and up 4.81% in the last month
• Relative Strength Index 68.25%
• Technical support level at 149.56
• Recently traded at 153.55 with a 50 day moving average of 146.10

Fundamental factors:

• Market Cap $60.42 billion
• P/E 20.08
• Dividend yield .40%
• Revenue expected to grow 5.70% this year an another 5.30% next year
• Earnings estimated to increase 10.00% this year, an additional 10.70% next year and continue to compound at an annual rate of 10.20% for the next 5 years
• Wall Street analysts issued 10 strong buy, 8 buy and 2 hold recommendations on the stock

CDK Global - Mid Cap for Momentum Investors

Today I used Barchart to sort the S&P 400 Mid Cap Index stocks first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or more.  CDK Global  (CDK) was right at the top of the list.

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 16 new highs and up 16.44% in the last month
• Relative Strength Index 81.35%
• Technical support level at 54.78
• Recently traded at 55.39 with a 50 day moving average of 49.18

CHARLES RIVER LABORATORIES - CHART OF THE DAY

Charles River Laboratories is the Barchart Chart of the Day.  The medical services company has a Trend Spotter buy signal, a Weighted Alpha of 24.30+ and gained 19.41% in the last year.

The Chart of the Day belongs to Charles River Laboratories (CRL).  I found the medical services 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 3/29 the stock gained 13.64%.

Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years.

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 9.12% in the last month
• Relative Strength Index 70.05%
• Technical support level at 84.68
• Recently traded at 86.50 with a 50 day moving average of 80.93

Fundamental factors:

• Market Cap $4.07 billion
• P/E 21.67
• Revenue expected to grow 21.40% this year and another 10.90% next year
• Earnings estimated to increase 17.00% this year, an additional 13.90% next year and continue to compound at an annual rate of 11.95% for the next 5 years
• Wall Street analysts issued 6 strong buy , 3 buy , 8 hold and 2 under perform recommendations on the stock

MORNING CALL 6/1

MORNING CALL

Wednesday, June 1st, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 -0.38%) are down -0.31% and European stocks are down -0.89% on signs of lackluster global manufacturing activity. The German May Markit/BME manufacturing PMI was revised lower, Japan's May Nikkei PMI contracted at the steepest pace in over 3 years, and China's May manufacturing PMI remained basically flat. A -1.22% slide in July WTI crude oil (CLN16 -1.20%) to a 1-week low undercut energy producers, and U.S. stocks were under pressure after the OECD revised its U.S. 2016 GDP forecast downward. Asian stocks settled mostly lower: Japan -1.62%, Hong Kong -0.26%, China -0.11%, Taiwan +0.72%, Australia -1.03%, Singapore -0.02%, South Korea -0.02%, India +0.17%.

The dollar index (DXY00 -0.38%) is down -0.34% after the OECD cut its U.S. 2016 GDP forecast and EUR/USD (^EURUSD) is up +0.26% after the OECD raised its Eurozone 2016 GDP forecast to 1.6% from a Feb estimate of 1.4%. USD/JPY (^USDJPY) is down -1.11%.

Sep T-note prices (ZNU16 +0.06%) are up +1 tick.

The OECD cut its U.S. 2016 GDP estimate to 1.8% from a Feb projection of 2.0% and raised its Eurozone 2016 GDP forecast to 1.6% from a Feb estimate of 1.4%. The OECD kept its global 2016 GDP estimate unchanged at 3.0%, but warned that the global economy is slipping into a self-fulfilling "low-growth trap" where ultra-loose monetary policy risks doing more harm than good.

The China May manufacturing PMI was unchanged at 50.1, stronger than expectations of -0.1 to 50.0.

The German May Markit/BME manufacturing PMI was revised downward to 52.1 from the originally reported 52.4.

The Japan May Nikkei manufacturing PMI was revised upward to 47.7 from the originally reported 47.6, still the steepest pace of contraction since the data series began in 2013.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +2.3% with purchase sub-index +4.8% and refi sub-index +0.4%), (2) revised-May Markit U.S. manufacturing PMI (expected unrevised at 50.5, preliminary-May -0.3 to 50.5), (3) May ISM manufacturing index (expected -0.5to 50.3, Apr -1.0 to 50.8), (4) Apr construction spending (expected +0.6%, Mar +0.3%), (5) Fed Beige Book, (6) May total vehicle sales (expected 17.30 million, Apr 17.32 million).

There are 2 of the Russell 1000 companies that report earnings today: Michael Kors Holdings (consensus $0.97), Alere (0.58).

U.S. IPO's scheduled to price today: Nant Health LLC (NH).

Equity conferences during the remainder of this week include: Deutsche Bank Global Financial Services Investor Conference on Tue-Wed, BMO Capital Markets Energy & Power Conference on Wed, D. A. Davidson & Co Technology Forum on Wed, Stifel Dental & Veterinary Conference on Wed, Bank of America Merrill Lynch Global Technology Conference on Wed-Thu, Cowen and Company Technology, Media & Telecom Conference on Wed-Thu, RBC Capital Markets Consumer & Retail Conference on Wed-Thu, Bernstein Strategic Decisions Conference on Wed-Fri, Credit Suisse Engineering & Construction Conference on Thu, Keefe, Bruyette & Woods Asset Management Conference on Thu, American Society of Clinical Oncology (ASCO) Meeting on Fri.

OVERNIGHT U.S. STOCK MOVERS

Nike (NKE -1.73%) fell 2% in pre-market trading after it was downgraded to 'Neutral' from 'Buy' at Bank of America/Merrill Lynch.

Whole Foods Markets (WFM +1.00%) jumped over 2% in pre-market trading after it was upgraded to 'Outperform' from 'Neutral' at Credit Suisse.

Zoetis (ZTS +0.51%) was rated a new 'Buy' at Stifel with a 12-month price target of $58.

InterXion Holding NV (INXN +0.86%) rose nearly 1% in after-hours trading after it was upgraded to 'Outperform' from 'Market Perform' at Wells Fargo Securities.

Alibaba Group Holding Ltd. (BABA +1.27%) fell over 2% in pre-market trading after Softbank Group, the largest investor in Alibaba, said it will sell at least $7.9 billion of its Alibaba stake.

Under Armour (UA -0.50%) lost more than 3% in after-hours trading after it cut its full-year net revenue estimate to $4.925 billion from a prior view of $5 billion.

Quanex Building Products (NX +2.47%) reported Q2 adjusted EPS of 10 cents, better than consensus of 9 cents, and boosted its full-year Ebitda estimate to $117 million-$121 million from a December 14 estimate of $112 million-$120 million.

Ascena Retail (ASNA +1.12%) dropped nearly 6% in after-hours trading after it lowered guidance on full-year EPS to 67 cents-70 cents from a prior view of 75 cents-80 cents.

Zoe's Kitchen (ZOES +2.47%) climbed over 3% in after-hours trading after it reported Q1 adjusted EPS of 6 cents, better than consensus of 4 cents, and then raised its full-year revenue estimate to $277 million-$281 million from a prior estimate of $275 million-$289 million.

NCI Building Systems (NCS +2.48%) reported Q2 sales of $372.2 million, higher than consensus of $363.5 million.

Boyd Gaming (BYD +0.48%) rose more than 4% in after-hours trading after MGM Resorts International acquired Boyd's 50% stake in Atlantic City's Borgata hotel and casino for $900 million.

TiVo (TIVO -0.70%) slipped 3% in after-hours trading after it reported Q1 EPS of 4 cents, weaker than consensus of 8 cents.

MARKET COMMENTS

June E-mini S&Ps (ESM16 -0.38%) this morning are down -6.50 points (-0.31%). Tuesday's closes: S&P 500 -0.10%, Dow Jones -0.48%, Nasdaq +0.25%. The S&P 500 on Tuesday fell back from a 1-1/4 month high and closed lower on the unexpected -2.1 point decline in U.S. May consumer confidence (Conference Board) to 92.6 (weaker than expectations of +1.9 to 96.1 and a 6-month low) and the unexpected -1.1 point decline in the May Chicago PMI (weaker than expectations of +0.1 to 50.5). Stocks were boosted by the +1.0% m/m increase in U.S. Apr personal spending, stronger than expectations of +0.7% m/m and the largest increase in 6-1/2 years.

September 10-year T-note prices (ZNU16 +0.06%) this morning are up +1 tick. Tuesday's closes: TYU6 -0.50, FVU6 -0.25. Sep T-notes on Tuesday fell to a 1-month low but recovered and closed little changed. T-notes were undercut by negative carry-over from Friday's comments by Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate." T-notes were also undercut by the sharp +1.0% increase in U.S. Apr personal spending. T-notes found support on the decline in the U.S. May consumer confidence index to a 6-month low and by the weak May Chicago PMI.

The dollar index (DXY00 -0.38%) this morning is down -0.327 (-0.34%). EUR/USD (^EURUSD) is up +0.0029 (+0.26%). USD/JPY (^USDJPY) is down-1.23 (-1.11%). Tuesday's closes: Dollar Index +0.370 (+0.97%), EUR/USD -0.0006 (-0.05%), USD/JPY -0.39 (-0.35%). The dollar index on Tuesday closed higher on carryover support from Friday's hawkish comments Friday by Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate." The dollar was also boosted by the stronger-than-expected U.S. Apr personal spending of +1.0%, which rose at the fastest pace in 6-1/2 years and bolstered the case for a Fed rate hike.

July WTI crude oil (CLN16 -1.20%) this morning is down -60 cents (-1.22%) at a 1-week low. July gasoline (RBN16 -0.60%) is down -0.0117 (-0.73%) at a 2-week low. Tuesday's closes: CLN6 -0.23 (-0.47%), RBN6 -0.0244 (-1.49%). July crude oil and gasoline on Tuesday closed lower on the stronger dollar and on expectations that OPEC members will be unable to agree on production cuts when the cartel meets on Thursday in Vienna.

GLOBAL EVENT CALENDAR06/01/2016

US	0700 ET	Weekly MBA mortgage applications, previous +2.3% with purchase sub-index +4.8% and refi sub-index +0.4%.
	0945 ET	Revised-May Markit U.S. manufacturing PMI expected unchanged at 50.5, preliminary-May -0.3 to 50.5.
	1000 ET	May ISM manufacturing index expected -0.5 to 50.3, Apr -1.0 to 50.8. May ISM new orders, Apr -2.5 to 55.8. May ISM employment, Apr +0.9 to 49.2. May ISM prices paid expected -1.0 to 58.0, Apr +7.5 to 59.0.
	1000 ET	Apr construction spending expected +0.6%, Mar +0.3%.
	1400 ET	Fed Beige Book.
	n/a	May total vehicle sales expected 17.30 million, Apr 17.32 million. May domestic vehicle sales expected 13.58 million, Apr 13.48 million.
JPN	0100 ET	Japan May vehicle sales, Apr +7,2% y/y.
GER	0355 ET	Revised German May Markit/BME manufacturing PMI, preliminary +0.6 to 52.4.
EUR	0400 ET	Revised Eurozone May Market manufacturing PMI, preliminary -0.2 to 51.5.
UK	0200 ET	UK My nationwide house prices expected +0.3% m/m and +4.8% y/y, Apr +0.2% m/m and +4.9% y/y.
	0430 ET	UK Apr net consumer credit expected +1.6 billion pounds, Mar +1.9 billion pounds.
	0430 ET	UK Apr mortgage approvals expected 67,900, Mar 71,400.
	0430 ET	UK Apr M4 money supply, Mar -0.4% m/m and +1.6% y/y.
	0430 ET	UK May Markit manufacturing PMI expected +0.4 to 49.6, Apr 49.2.

U.S. STOCK CALENDAR06/01/2016

Company	Ticker	Time	Event Description	Period	Estimate
Michael Kors Holdings Ltd	KORS US	Bef-mkt	Q4 2016 Earnings Release	Q4 2016	0.965
Michael Kors Holdings Ltd	KORS US	8:00	Q4 2016 Earnings Call	Q4 2016
Alkermes PLC	ALKS US	8:30	ALKS 5461 FORWARD-3 & FORWARD-4 Data Study Results Call
Ford Motor Co	F US	9:15	May 2016 Sales and Revenue Release	2016
Ford Motor Co	F US	10:00	May 2016 Sales and Revenue Call	2016
IPG Photonics Corp	IPGP US	10:00	Annual General Meeting
Gaming and Leisure Properties Inc	GLPI US	10:00	Annual General Meeting
Workday Inc	WDAY US	12:00	Annual General Meeting	Y 2016
Pandora Media Inc	P US	12:00	Annual General Meeting
Costco Wholesale Corp	COST US	21:00	May 2016 Sales and Revenue Release	2016
Equifax Inc	EFX US		Investor Meeting - San Francisco	Y 2016
MGM Resorts International	MGM US		Annual General Meeting
Taubman Centers Inc	TCO US		Annual General Meeting
American Tower Corp	AMT US		Annual General Meeting
Alere Inc	ALR US		Q4 2015 Earnings Release	Q4 2015	0.583
Equinix Inc	EQIX US		Annual General Meeting
Ulta Salon Cosmetics & Fragrance Inc	ULTA US		Annual General Meeting
Michaels Cos Inc/The	MIK US		Annual General Meeting
Rice Energy Inc	RICE US		Annual General Meeting

ONEOK - Large Cap Momentum Stock

Today I used Barchart to sort the S&P 500 Large Cap Index stocks first for the most frequent new highs in the last month then again for technical buy signals  of 80% or more.  I always use the Flipchart feature to review the charts for consistency

Barchart technical indicators for ONEOK (OKE):

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 20.19% in the last month
• Relative Strength Index 72.23%
• Technical support level at 41.40
• Recently traded at 43.21 with a 50 day moving average of 35.37

Marketaxess Holdings - Chart of the Day

Marketaxess Holdings (MKTX) is the Barchart Chart of the Day.  The fixed income brokerage has a Trend Spotter buy signal, a Weighted Alpha of 64.50+ and gained 58.28% in the last year.

The Chart of the Day belongs to Marketaxess Holdings (MKTX).  I found the fixed income brokerage 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.  Since the Trend Spotter signaled a buy on 5/11 the stock gained 8.72% in the last month.

MarketAxess Holdings Inc. operates one of the leading platforms for the electronic trading of corporate bonds and certain other types of fixed-income securities, serving as an electronic platform through which active institutional investor clients can access the liquidity provided by our broker-dealer clients. MarketAxess' multi-dealer trading platform allows our institutional investor clients to simultaneously request competitive, executable bids or offers from multiple broker-dealers, and to execute trades with the broker-dealer of their choice. MarketAxess offers our clients the ability to trade U.S. high-grade corporate bonds, European high-grade corporate bonds, credit default swaps, agencies, high-yield and emerging markets bonds. MarketAxess also provides data and analytical tools that help our clients make trading decisions, and we facilitate the trading process by electronically communicating order information between trading counter parties.

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 14.04% in the last month
• Relative Strength Index 70.23%
• Technical support level at 136.78
• Recently traded at 140.00 with a 50 day moving average of 127.51

Fundamental factors:

• Market Cap $5.19 billion
• P/E 52.85
• Dividend yield .74%
• Revenue expected to grow 14.20% this year and another 12.40% next year
• Earnings estimated to increase 17.30% this year. an additional 17.10% next year and continue to compound at an annual rate of 9.15% for the next 5 years
• Wall Street analysts issued 2 buy, 1 hold and 2 under perform recommendations on the stock

The 20-100 Day MACD Oscillator as been a reliable technical trading strategy for this stock

MORNING CALL 5/31

MORNING CALL

Tuesday, May 31st, 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 +0.11%)are up +0.04% at a 1-1/4 month high on optimism that a strengthening U.S. economy could handle another 25 bp rate hike from the Fed. Fed Chair Yellen said Friday afternoon that an improving economy would probably warrant another rate increase "in the coming months." Strength in crude oil prices is lifting energy producers, while European stocks are down -0.33% as automakers declined after Volkswagen dropped over 3% when it reported an 86% plunge in quarterly profit due to its emissions-cheating scandal. European stocks were also undercut after an unexpected decline in German Apr retail sales. Asian stocks settled mostly higher: Japan +0.98%, Hong Kong +0.90%, China +3.34%, Taiwan unch, Australia -0.54%, Singapore -0.20%, South Korea +0.79%, India -0.22%. China's Shanghai Composite climbed to a 3-week high after Goldman Sachs said that it was likely that the stocks in the Shanghai Composite would be included in MSCI Inc.'s global benchmark indexes. Japan's Nikkei Stock Index rose to a 1-month high on optimism the Japanese government will delay an increase in the sales tax after senior officials from Prime Minister Abe's ruling party and its coalition partner said that Prime Minister Abe wants to put off a planned national sale tax increase for 2-1/2 years.

The dollar index (DXY00 -0.01%) is up +0.09%. EUR/USD (^EURUSD) is up +0.13%. USD/JPY (^USDJPY) is down -0.04%.

Jun T-note prices (ZNM16 -0.24%) are down -12.5 ticks.

German Apr retail sales unexpectedly fell -0.9% m/m, weaker than expectations of +0.9% m/m.

The Eurozone May CPI estimate fell -0.1% y/y, right on expectations. The May core CPI rose +0.8% y/y, right on expectations.

The Eurozone Apr unemployment rate was unch at 10.2%, right on expectations.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Apr personal spending (expected +0.7%, Mar +0.1%) and Apr personal income (expected +0.4%, Mar +0.4%), (2) Apr PCE deflator expected (+0.3% m/m and +1.1% y/y, Mar +0.1% m/m and +0.8% y/y) and Apr core PCE deflator (expected +0.2% m/m and +1.6% y/y, Mar +0.2% m/m and +1.6% y/y), (3) S&P/CaseShiller composite-20 home price index (expected +0.7% m/m and +5.06% y/y, Feb +0.66% m/m and +5.38% y/y), (4) May Chicago PMI (expected +0.1 to 50.5, Apr -3.2 to 50.4), (5) May Conference Board U.S. consumer confidence (expected +2.1 to 96.3, Apr-1.9 to 94.2), (6) May Dallas Fed manufacturing activity (expected +5.9 to -8.0, Apr -13.9), (7) USDA weekly grain export inspections, and (8) USDA Weekly Crop Progress.

There are 3 of the Russell 1000 companies that report earnings today: Golar LNG (consensus -$0.42), Medtronic (1.26), Workday (-0.02).

U.S. IPO's scheduled to price today: Cancer Preventation Pharmaceuticals (CPP).

Equity conferences this week include: Deutsche Bank Global Financial Services Investor Conference on Tue-Wed, BMO Capital Markets Energy & Power Conference on Wed, D. A. Davidson & Co Technology Forum on Wed, Stifel Dental & Veterinary Conference on Wed, Bank of America Merrill Lynch Global Technology Conference on Wed-Thu, Cowen and Company Technology, Media & Telecom Conference on Wed-Thu, RBC Capital Markets Consumer & Retail Conference on Wed-Thu, Bernstein Strategic Decisions Conference on Wed-Fri, Credit Suisse Engineering & Construction Conference on Thu, Keefe, Bruyette & Woods Asset Management Conference on Thu, American Society of Clinical Oncology (ASCO) Meeting on Fri.

OVERNIGHT U.S. STOCK MOVERS

Celator Pharmaceuticals (CPXX +0.17%) soared over 70% in pre-market trading after it agreed to a $1.5 billion takeover offer from Jazz Pharmaceuticals.

Lockheed Martin (LMT -0.60%) was downgraded to 'Hold' from 'Buy' at Berenberg.

Marathon Oil (MRO -2.05%) was upgraded to 'Overweight' from 'Neutral' at Piper Jaffray.

Deere & Co. (DE +0.29%) was upgraded to 'Buy' from 'Neutral' at UBS with a 12-month price target of $94.

Micron (MU +3.01%) was upgraded to 'Outperform' from 'Neutral' at Robert Baird.

Dril-Quip (DRQ +1.12%) was upgraded to 'Buy' from 'Accumulate' at KLR Group with a price target of $70.

Signature Bank/New York (SBNY +0.85%) was downgraded to 'Neutral' from 'Overweight' at Piper Jaffray with a 12-month price target of $146.

TransDigm Group (TDG +0.47%) jumped 4% in after-hours trading after it was announced that it will replace Baxalta in the S&P 500 after the close of trading Thursday, June 2.

Brocade (BRCD +0.23%) rose 3% in after-hours trading after it was announced that it will replace MDC Holdings in the MidCap 400 after the close of trading on Tuesday, May 31.

The FDA approved Zinbryta, made by Biogen (BIIB +0.28%) and Abbvie (ABBV +1.31%) , for the treatment of adults with relapsing forms of multiple sclerosis.

Reuters reports that Williams Cos (WMB +3.22%) has informed Energy Transfer Equity ETE that it is open to considering a new offer that would replace the $6 billion portion of the deal with shares in the acquisition vehicle that Energy Transfer will create.

Osiris Therapeutics (OSIR +1.43%) slumped 10% in after-hours trading after it said a criminal probe against the company was started by the U.S. Attorney's Office for the Southern District of New York.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.11%) this morning up +0.75 of a point (+0.04%) at a 1-1/4 month high. Friday's closes: S&P 500 +0.43%, Dow Jones +0.25%, Nasdaq +0.55%. The S&P 500 Friday rallied to a 1-1/4 month high and closed higher on the upward revision to U.S. Q1 GDP to +0.8% from +0.5% and on optimism that the U.S. economy is strong enough to handle further Fed rate hikes. Stocks were undercut by the -1.1 point decline in final-May University of Michigan U.S. consumer sentiment index to 94.7, weaker than expectations of -0.4 to 95.4.

June 10-year T-note prices (ZNM16 -0.24%) this morning are down -12.5 ticks. Friday's closes: TYM6 -3.50, FVM6 -3.00. Jun T-notes on Friday closed lower on the upward revision to U.S. Q1 GDP to +0.8% from +0.5%, hawkish comments from Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate," and reduced safe-haven demand with the rally in stocks.

The dollar index (DXY00 -0.01%) this morning is up +0.085 (+0.09%). EUR/USD (^EURUSD) is up +0.0014 (+0.13%). USD/JPY (^USDJPY) is down-0.05 (-0.04%). Friday's closes: Dollar Index +0.353 (+0.37%), EUR/USD -0.0079 (-0.71%), USD/JPY +0.55 (+0.50%). The dollar index on Friday rallied to a 2-month high and closed higher on the upward revision in U.S. Q1 GDP to +0.8% from +0.5% and hawkish comments from Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate." The dollar was also boosted by weakness in EUR/USD which tumbled to a 2-1/2 month low on divergent central bank policies with the Fed expected to further tighten monetary policy while the ECB maintains or even expands its monetary policy.

July WTI crude oil (CLN16 +0.47%) this morning is up +14 cents (+0.28%). July gasoline (RBN16 -0.90%) is down -0.0192 (-1.17%). Friday's closes: CLN6 -0.15 (-0.30%), RBN6 +0.0111 (+0.68%). July crude oil and gasoline prices on Friday settled mixed as July gasoline rebounded from a 1-week low. Crude oil prices were undercut by the rally in the dollar index to a 2-month high and by the restart of oil-sands facilities in Alberta as wildfire risks abated. Gasoline prices were boosted by signs of stronger demand as the AAA estimates that 38 million Americans will travel 50 miles or more this Memorial holiday weekend, up +2.2% y/y and the second-highest ever.

GLOBAL EVENT CALENDAR05/31/2016

US	0830 ET	Apr personal spending expected +0.7%, Mar +0.1%. Apr personal income expected +0.4%, Mar +0.4%.
	0830 ET	Apr PCE deflator expected +0.3% m/m and +1.1% y/y, Mar +0.1% m/m and +0.8% y/y. Apr core PCE deflator expected +0.2% m/m and +1.6% y/y, Mar +0.2% m/m and +1.6% y/y.
	0900 ET	Mar S&P/CaseShiller composite-20 home price index expected +0.7% m/m and +5.06% y/y, Feb +0.66% m/m and +5.38% y/y.
	0945 ET	May Chicago PMI expected +0.1 to 50.5, Apr -3.2 to 50.4.
	1000 ET	May U.S. consumer confidence (Conference Board) expected +2.1 to 96.3, Apr -1.9 to 94.2.
	1030 ET	May Dallas Fed manufacturing activity expected +5.9 to -8.0, Apr -13.9.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA Weekly Crop Progress.
JPN	0000 ET	Japan Apr vehicle production, Mar +1.2% y/y.
	0100 ET	Japan Apr housing starts expected +4.0% to 950,000 annualized, Mar +8.4% y/y to 993,000 annualized.
	0100 ET	Japan Apr construction orders, Mar +19.8% y/y.
	1950 ET	Japan Q1 capital spending expected +1.9% y/y, Q4 +8.5% y/y. Q1 capital spending ex software expected +4.1% y/y, Q4 +8.9% y/y.
	2200 ET	Revised Japan May Nikkei manufacturing PMI.
GER	0200 ET	German Apr retail sales expected +1.0% m/m and +1.9% y/y, Mar -1.4% m/m and +0.7% y/y.
	0355 ET	German May unemployment change expected -5,000, Apr -16,000. May unemployment rate, Apr 6.2%.
EUR	0400 ET	Eurozone Apr M3 money supply expected +5.0% y/y, Mar +5.0% y/y.
	0500 ET	Eurozone Apr unemployment rate expected unch at 10.2%, Mar -0.2 to 10.2%.
	0500 ET	Eurozone May CPI estimate expected -0.1% y/y, Apr -0.2% y/y. May core CPI expected +0.8% y/y, Apr +0.7% y/y.
UK	1901 ET	UK May BRC shop price index, Apr -1.7% y/y.
CHI	2100 ET	China May manufacturing PMI expected -0.1 to 50.0, Apr -0.1 to 50.1. May non-manufacturing PMI, Apr -0.3 to 53.5.
	2145 ET	China May Caixin manufacturing PMI expected -0.2 to 49.2, Apr -0.3 to 49.4.

U.S. STOCK CALENDAR05/31/2016

Company	Ticker	Time	Event Description	Period	Estimate
Golar LNG Ltd	GLNG US	Bef-mkt	Q1 2016 Earnings Release	Q1 2016	-0.424
Medtronic PLC	MDT US	6:45	Q4 2016 Earnings Release	Q4 2016	1.264
Medtronic PLC	MDT US	8:00	Q4 2016 Earnings Call	Q4 2016
Golar LNG Ltd	GLNG US	10:00	Q1 2016 Earnings Call	Q1 2016
Workday Inc	WDAY US	17:00	Q1 2017 Earnings Call	Q1 2017
Workday Inc	WDAY US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	-0.021
Henry Schein Inc	HSIC US		Annual General Meeting
Tesla Motors Inc	TSLA US		Annual General Meeting
Empire State Realty Trust Inc	ESRT US		Annual General Meeting

5 NASDAQ 100 Stocks for Momentum Investors

This morning I used Barchart to sort the NASDAQ 100 Index stocks first for the highest number of new highs in the last month, then again for technical buy signals f 80% or more, Next I used the Flipchart feature to review the charts for consistency.  The stocks added to the Watch List today include:

Netease (NTES)

Barchart technical indicators:

• 80% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 32.03% in the last month
• Relative Strength Index 76.08%
• Technical support level at 171.08 
• Recently traded at 175.79 with a 50 day moving average of 146.41

Nvidia (NVDA)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving aerages
• 10 new highs and up 23.02% in the last month
• Relative Strength Index 84.14%
• Technical support level at 45.39
• Recently traded at 45.90 with a 50 day moving average of 37.52

T-Mobile (TMUS)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 7.15% in the last month
• Relative Strength Index 72.93%
• Technical support level at 41.93
• Recently traded at 42.54 with a 50 day moving average of 39.64

Intuit (INTU)

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 4.23% in the last month
• Relative Strength Index 106.46
• Technical support level at 64.15
• Recently traded at 107.89 with a 5 day moving vaerage of 103.00

Adobe Systems (ADBE)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 7 new highs and up 4.71% in the last month
• Relative Strength Index 67.69%
• Technical support level at 98.49
• Recently traded at 100.14 with a 50 day moving average of 95.13

5 Small Caps for Momentum Investors

Today I used Barchart to sort the S&P 600 Small Cap Index stocks to find 5 great stocks for momentum investors.  First I sorted for the highest frequency of new highs in the last month then again for technical buy signals of 80% or better.  Next I used the Flipchart feature to review the charts for consistency.  Today's additions to the Watch List are:

Insperity (NSP), MOOG (MOG.A), Sanmina (SANM), WD 40 (WDFC) and  John Bean Technologies (JBT)

Insperity (NSP)

Barchart technical indicators:

• 80% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 34.89% in the last month
• Relative Strength Index 76.40%
• Technical support level at 69.94
• Recently traded at 71.17 with a 50 day moving average of 57.88

MOOG (MOG.A)

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 16.14% in the last month
• Relative Strength Index 70.44%
• Technical support level at 53.73
• Recently traded at 54.48 with a 50 day moving average of 48.21

Sanmina (SANM)

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 10.07% in the last month
• Relative Strength Index 71.52%
• Technical support level at 25.87
• Recently traded at 26.46 with a 50 day moving average of 23.58

WD40 (WDFC)

, 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 9.24% in the last month
• Relative Strength Index 66.62%
• Technical support level at 110.59
• Recently traded at 111.56 with a 50 day moving average of 105.84

John Bean Technologies (JBT)

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 15.75% in the last month
• Relative Strength Index 61.47%
• Technical support level at 59.26
• Recently traded at 60.70 with a 50 day moving average of 56.54