Portfolio deletions: PAA,CMG,SBUX,ULTA

This morning I deleted 4 stocks from the Barchart Van Meerten New High portfolio for negative price momentum,  They were Plains All American Pipeline (PPA), Chipolte Mexican Grill (CMG), Starbucks (SBUX) and Ulta Salon Cosmetics & Fragrance (ULTA)

Plains All American Pipeline (PAA)

Barchart technical indicators:

• 88% Barchart technical sell signal
• Trend Spotter sell signal
• Below its 20, 50 and 100 day moving averages
• 9.54% off its 1 year high
• Relative Strength Index 35.90%

Chipolte Mexican Grill (CMG)

Barchart technical indicators:

• 64% Barchart technical sell signal
• Trend Spotter sell signal
• Below its 20, 50 and 100 day moving averages
• 10.24% off its 1 year high
• Relative Strength Index 43.51%

Starbucks (SBUX)

Barchart technical indicators:

• 24% Barchart technical sell signal
• Trend Spotter sell signal
• Below its 20 and 50 day moving averages
• 13.06% off its 1 year high
• Relative Strength Index 46.76%

Ulta Salon Cosmetics & Fragrance (ULTA)

Barchart technical indicators:

• 48% Barchart technical sell signal
• Trend Spotter sell signal
• Below its 20, 50 and 100 day moving averages
• 10.72% off its 1 year high
• Relative Strength Index 42.04%

Barchart's Morning Call 6/4

Barchart Morning Call

BC - Mon Jun 04, 7:00AM CDT

Overnight Developments

• June E-mini S&Ps this morning are trading slightly higher by +1.75 points (+0.14%) on some short-covering after last Friday's sharp sell-off and on higher European stocks today. Commodity prices on average are mildly higher by +0.24% this morning with gold up 0.52%, although copper is down -0.54% and crude oil is down -1.12%. Grain prices are higher today. T-notes are down 5 ticks. The dollar index is down -0.116 points (-0.14%) with EUR/USD little changed and USD/JPY up +0.11 yen.
• The Euro Stoxx 50 this morning is up 0.77% today on a recovery from recent losses. London is closed today for a spring bank holiday and the Queen's Diamond Jubilee. Asian stocks today sold off sharply on last Friday's weak U.S. payroll report and Sunday's report of a decline in China's non-manufacturing PMI: Japan -1.71%, Hong Kong -2.01%, China -2.81%, Taiwan -2.98%, Australia -1.94%, Singapore -1.70%, South Korea -2.27%, India -0.15%, Turkey -0.25%.
• Spanish 10-year bond yields fell by 3 bp to 6.50% today after the number of people in Spain claiming unemployment benefits fell by 30,113 to 4.71 million persons. That was the second month in a row that persons claiming unemployment benefits fell following the 6,632 decline seen in April. Spanish Prime Minister Rajoy today said the EU "needs to reinforce its common institutional architecture so that investors regain confidence in the single currency. Spain will emerge from the storm through its own efforts and with the support of our European partners."
• A spokesman for Spanish Prime Minister Rajoy's office said Spain is not under pressure from its European partners to seek a bailout, denying a report that German Chancellor Merkel and French President Hollande are pressuring Spain to seek a bailout.
• The June Sentix investor confidence index fell to -28.9 from -24.5 in May, although that was a bit better than the market consensus of -30.0.
• The April Eurozone PPI eased to unchanged m/m and +2.6% y/y from +0.5% m/m and +3.5% y/y, which was weaker than market expectations of +0.2% m/m and +2.7% y/y.
• China's May non-manufacturing PMI fell by 0.8 points to a 14-month low of 55.2 from 56.1 in April, according to a report on Sunday from the Chinese National Bureau of Statistics and the China Federation of Logistics and Purchasing.
  Market Comments
  • June E-mini S&Ps this morning are trading +1.75 points on some short-covering after last Friday's sharp losses and on this morning's higher trade in European stocks. U.S. stocks on Thursday closed mildly lower: S&P 500 -2.46%, Dow Jones -2.22%, Nasdaq 100 -2.62%. The S&P 500 index last Friday fell to a new 4-1/2 month low and has now fallen by a total of 10.2% from the 4-year high posted in early April. Bearish factors on Friday included (1) the weaker than expected May payroll report of +69,000 (vs expectations of +150,000) and the 0.1 point rise in the May unemployment rate to 8.2%, (2) the larger-than-expected -1.3 point decline in the May ISM manufacturing index to 53.5 versus expectations of -1.0 to 53.8, and (3) Thursday night's weaker than expected May Chinese ISM manufacturing index of -2.9 to 50.4.
  • Sep 10-year T-notes this morning are -5 ticks on the higher trade in E-mini S&Ps and European stocks. T-note prices on Friday closed higher: TYU2 +25.5, FVU2 +6.75. The 10-year T-note yield last Friday fell to a new closing low of 1.45%. T-notes rallied further on the weak US payroll and ISM manufacturing reports and Chinese ISM manufacturing report, which all added up to an alarming synchronous decline in global economic growth. The weak economic reports, combined with the ongoing European debt crisis, increase the chances that the FOMC at its next meeting on June 19-20 will implement a new securities purchase program of some type when the current Operation Twist program expires at the end of June.
  • The dollar index this morning is mildly lower by -0.116 (-0.14%) on reduced safe-haven demand with the higher trade in E-mini S&Ps and European stocks. EUR/USD is up +0.00003 (+0.02%) and USD/JPY is up +0.11 yen (+0.14%). BOJ Governor Shirakawa today said that the BOJ has been monitoring "the recent appreciation of the yen" in a warning to the FX markets about the possibility of intervention. The dollar index on Friday posted a new 10-month high but then fell back and closed slightly lower: Dollar Index -0.07 (-0.09%), EUR/USD +0.0069 (+0.56%), USD/JPY -0.30 (-0.38%). The dollar fell on Friday as some long liquidation pressure emerged after the weak U.S. payroll report put the U.S. economy in a weaker light and increased the chances for a new Fed securities purchase program, which would be bearish for the dollar. EUR/USD posted a new 2-year low but then recovered on some short-covering to closed +0.56%. USD/JPY extended the 2-1/2 month decline and posted a new 3-1/2 month low on the weak U.S. economic reports and continued safe-haven buying in the yen. The markets this week will be watching for fresh threats from Japanese officials for intervention against the yen.
  • July WTI crude oil prices this morning are down -0.93 (-1.12%) and July gasoline is down -3.20 (-1.20%) as market concerns continue about weak global economic growth with Sunday's weak Chinese non-manufacturing PMI report of -0.9 to 55.2. July crude oil and gasoline prices on Friday closed sharply lower: CLN2 -3.30 (-3.81%), RBN2 -0.0659 (-2.42%). July crude oil has now plunged by $29 per barrel in the past 3 months to post a new 8-month low and close at $83.23, the lowest level since last October just before the economy started to regain its strength. Crude oil has plunged on the syncronized decline in economic growth in the U.S., Europe and Asian, which will substantially undercut fuel demand. In addition, Bloomberg reported on Friday that OPEC production in May rose by 0.1% m/m to a new 3-1/2 year high of 31.595 million barrels per day. Saudi production rose by 0.8% to 9.9 million bpd. Crude oil also continues to see heavy downward pressure from the 16.7% surge in U.S. oil inventories seen since the beginning of the year to a 22-year high.
  • For the complete subscription version of this daily report (plus a 13-page big-picture weekly report), along with the earliest possible delivery in the morning, please visit http://www.barchart.com/register/crbfms_usmc.php
    Today's U.S. Earnings Reports Earnings reports (sorted by mkt cap): DG-Dollar General (consensus $0.60), SHFL-Shuffle Master (0.20).
    Global Financial Calendar
    

    Monday 6/4/12
    United States
    0945 ET	May NY ISM index, Apr 61.2.
    1000 ET	Apr factory orders expected +0.2% m/m, Mar -1.9% m/m.
    1100 ET	USDA weekly grain export inspections.
    1130 ET	Weekly 3-mo and 6-mo T-bill auctions.
    1600 ET	USDA Crop Progress
    United Kingdom
    n/a	UK spring bank holiday.
    Euro-Zone
    0430 ET	Eurozone June Sentix investor confidence, May -24.5.
    0500 ET	Eurozone Apr PPI expected +0.3% m/m and +2.8% y/y, Mar +0.5% m/m and +3.3% y/y.
    CHI
    2230 ET	China May HSBC services PMI, Apr 54.1.

    Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.

Coca Cola Femsa - KOF - Barchart's Chart of the Day

Barchart.coms Chart of the Day - Coca Cola Femsa (KOF)

Barchart Research Team - BC - Sun Jun 03, 10:34PM CDT

Related Stocks

KOF - Coca Cola Femsa S.A.B. De C.V.

Sym	Last	Chg	Pct
KOF	119.55	+2.56	+2.19%

The "Chart of the Day" is Coca Cola Femsa (KOF), which showed up on Friday's Barchart "All Time High" list. Coca Cola Femsa on Friday rallied to a new all-time high of $117.90 and closed up 1.70%. TrendSpotter has been long since April 20 at $106.59. In recent news on the stock, the Bill & Melinda Gates Foundation in Q1 had a 6.2 million share position in Coca Cola Femsa. Coca Cola Femsa, with a market cap of $21 billion, produces, markets and distributes soft drinks throughout the metropolitan area of Mexico City, in Southeastern Mexico and in metropolitan Buenos Aires, Argentina.


How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
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.

• TrendSpotter: Buy
• Short-Term Indicators: 100% Buy
• Medium-Term Indicators: 100% Buy
• Long-Term Indicators: 100% Buy
• Overall Average 100% Buy

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Barchart links for further information:

Quotes and Charts
Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual

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Chart of the Day Archive
View Past Chart of the Day Reports

3 NASDAQ 100 stocks for your watch lists

I use screeners to save a tremendous amount of time to find the stocks I'll like to look into further.  Today I used Barchart to screen the NASDAQ 100 stocks to find the 3 with the best Barchart buy signals and found Monster Beverages (MNST), Expedia (EXPE) and Whole Foods Market (WFM)

Monster Beverage (MNST)

Barchart technical indicators:

• 80% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 2 new highs and up 6.38% in the last month
• Relative Strength Index 56.00%
• Barchart computes a technical support level at 71.11
• Recently traded at 71.04 with a 50 day moving average of 66.16

Expedia (EXPE)

Barchart technical indicators:

• 80% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 5 new highs and up 6.49% in the last month
• Relative Strength Index 62.88%
• Barchart computes a technical support level at 43.76
• Recently traded at 44.32 with a 50 day moving average of 37.57

Whole Foods Markets (WFM)

Barchart technical indicators:

• 48% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 50 and 100 day moving averages
• 3 new highs and up 2.70% in the last month
• Relative Strength Index 49.30%
• Barchart computes a technical support level at 87.29
• Recently traded at 86.39 with a 50 day moving average of 85.37

Barchart's Chart of the Day

Barchart Morning Call

BC - Fri Jun 01, 7:00AM CDT

Overnight Developments

• June E-mini S&Ps this morning are trading -15.00 points (-1.15%) on the much weaker-than-expected Chinese May manufacturing PMI report released last night of -2.9 to 50.4. The market is also worried about this morning's US payroll report. Commodity prices are sharply lower this morning with an average loss of -0.88%. Crude oil is down -1.90%, gold is down -0.84%, copper is down -1.01%, and agricultural commodities are mostly lower. June T-notes are up 12 ticks. The dollar index is up 0.30% and EUR/USD is down -0.29%.
• The Euro Stoxx 50 is down -1.15% this morning on the Chinese PMI report and on today's climb in the Eurozone unemployment rate to a record high of 11.0%. Asian stocks today closed lower nearly across the board: Japan -1.20%, Hong Kong -0.38%, China +0.04%, Taiwan -2.68%, Australia -0.30%, Singapore -0.97%, South Korea -0.44%, India -1.56%, Turkey -0.59%.
• The German 10-year bund yield today fell 4 bp to a new record low of 1.16% on today's sell-off in European stocks and continued flight-to-quality. Spain's 10-year yield this morning is up 1 bp at 6.57%, mildly below this week's peak of 6.66% on Wednesday. The price of Spanish credit default swaps (the cost of insuring against a Spanish sovereign default) rose by 9 bp today to a record 609 basis points.
• The Eurozone April unemployment rate was unchanged from March at 11.0%, the highest since the data series began in 1995. The report was in line with market expectations. March was revised higher to 11.0% from 10.9%. The number of unemployed persons rose by 110,000 to 17.4 million. Spain had the highest unemployment rate at 24.3%, up from 24.1% in March.
• The markets are still awaiting the results of the Irish vote on the fiscal pact, which is a constitutional balanced budget agreement. One Irish official quoted by the local media predicted the measure will win by 57% to 43% based on early counts. The final results are due to 4pm Dublin time. A "yes" vote is critical because Ireland will not be able to get another bailout from the Eurozone if that becomes necessary unless the country approves the fiscal pact.
• China's May manufacturing purchasing managers index (PMI), which was released last night, fell sharply by -2.9 points to 50.4 and was much weaker than expectations of 52.0. In addition, the PMI new orders index fell even more sharply by 4.7 points to 49.8, which was below the expansion-contraction level of 50.
  Market Comments
  • June E-mini S&Ps this morning are trading -15.00 points on last night's weak Chinese PMI report, this morning's 1.15% sell-off in European stocks, and fears of a weaker-than-expected U.S. May payroll report today. U.S. stocks on Thursday closed mildly lower: S&P 500 -0.23%, Dow Jones -0.21%, Nasdaq 100 -0.49%. U.S. stocks were hit with a raft of weak U.S. economic data that included the May ADP employment report of +133,000 (versus expectations of +150,000), the downward revision in Q1 GDP to +1.9% from +2.2% and in Q1 personal consumption to +2.7% from +2.9%, the +13,000 rise in weekly initial unemployment claims, and the sharp 3.5 point drop in the Chicago PMI index to 52.7 versus expectations for a 0.6 point rise. The stock market was also undercut by continued worries about Spain as Spanish Finance Minister Luis de Gindos said on Thursday that, "The future of the euro is going to be at play in the next weeks in Spain and Italy. I don't know if we're on the edge of a precipice, but we're in a very, very, very difficult situation."
  • June 10-year T-notes this morning are up 12 ticks and the 10-year T-note yield has fallen to a new record low of 1.534%. Safe-haven demand continues with today's sell-off in stocks. T-note prices on Wednesday closed sharply higher: TYM2 +7.5, FVM2 +1.25. The 10-year bond yield on Thursday fell to a new record low of 1.53% and closed the day at 1.56%. In addition to safe-haven demand, T-note prices yesterday received a boost from the raft of weak U.S. economic data, which not only dampened the inflation outlook but also raised the odds that the FOMC at its next meeting on June 19-20 will either extend its Operation Twist program or adopt a reserve-neutral mortgage securities purchase program.
  • The dollar index this morning is up +0.25 points (+0.30%) as safe-haven buying continues. EUR/USD is down 0.0036 (-0.29%) and USD/JPY is down 0.12 (-0.15%). The dollar index on Thursday closed slightly higher after edging to a new 1-2/3 year high: Dollar Index +0.03 (+0.03%), EUR/USD -0.0002 (-0.02%), USD/JPY -0.95 (-0.50%). EUR/USD fell to a new 2-year low on continued capital flight out of Europe. USD/JPY fell sharply by 0.95 cents to a new 3-1/2 month low as Japanese investors pulled capital back home to flee global volatility and as non-Japanese investors invested in Japan as a safe-haven. Japanese officials are not happy about the strength in the yen and are implicitly threatening forex intervention.
  • July WTI crude oil prices this morning are sharply lower by 1.64 (-1.90%) on the rally in the dollar and general commodity market weakness tied to the weak Chinese manufacturing PMI report. July gasoline this morning is sharply lower by -4.52 (-1.66%). Bloomberg reported today that OPEC production in May rose by 20,000 bpd to 31.595 million bpd, the highest level since 2008. Meanwhile, Saudi production rose by 80,000 bpd to 9.9 million bpd, the highest level since January 1989.
  • July crude oil and gasoline prices on Thursday closed sharply lower: CLN2 -1.29 (-1.47%), RBN2 -0.0512 (-1.85%). Bearish factors for crude oil prices included (1) the raft of weak U.S. economic data, (2) news that India's Q1 GDP eased to a 9-year low of +5.3% y/y, which was weaker than market expectations of +6.1% y/y and down from Q4's report of +6.1% y/y. (3) ongoing worries about the fall-out from the European debt crisis, and (4) the continued climb in U.S. crude oil inventories to a new 2-year high. Thursday's weekly DOE report showed a 2.213 million barrel (+0.6%) rise in U.S. crude oil inventories to a new 22-year high. Crude oil inventories are now 9.5% above their 5-year seasonal average, the highest such level since December 2010. Meanwhile the DOE report was bullish for the products with a 833,000 barrel decline in gasoline inventories (versus expectations of 250,000 barrel decline) and a 1.709 million barrel drop in distillate inventories (versus expectations of unchanged). Gasoline inventories are now 3.7% below their 5-year seasonal average and distillate inventories are 12.3% below average. The refinery utilization rate rose by 1 point to 89.1% where it is 1.5 points above its 5-year seasonal average.
  • For the full subscription version of this daily report (plus a 13-page big-picture weekly report), along with the earliest possible delivery in the morning, please visit http://www.barchart.com/register/crbfms_usmc.php
    Today's U.S. Earnings Reports Earnings reports (sorted by mkt cap): GAME-Shanda Games (consensus $0.20), CHRS-Charming Shoppes (0.19).
    Global Financial Calendar
    

    Friday 6/1/12
    United States
    0830 ET	May non-farm payrolls expected +150,000, Apr +115,000. May private payrolls expected +160,000, Apr +130,000. May manufacturing payrolls expected +16,000, Apr +16,000. May average hourly earnings expected +0.2% m/m, Apr unch m/m and +1.8% y/y. May average weekly hours expected unch at 34.5 hours. May unemployment rate expected unch at 8.1%, Apr -0.1 to 8.1%.
    0830 ET	Apr personal income expected +0.3% m/m, Mar +0.4% m/m. Apr personal spending expected +0.3% m/m, Mar +0.3% m/m. Apr PCE deflator expected +0.1% m/m and +1.9% y/y, Mar +2.1% y/y. Apr core PCE deflator expected +0.2% m/m and +2.0% y/y, Mar +0.2% m/m and +2.0% y/y.
    1000 ET	Apr construction spending expected +0.4%, Mar +0.1%.
    1000 ET	May ISM manufacturing index expected -1.0 to 53.8, Apr +1.4 to 54.8. May ISM prices paid sub-index expected -4.5 to 56.5, Apr unch at 61.0.
    1700 ET	May U.S. total vehicle sales expected 11.46 mln, May 14.38 mln. May domestic vehicle sales expected 11.20 mln, Apr 11.12 mln.
    Japan
    0100 ET	Japan May vehicle sales, Apr 92.0% y/y.
    Euro-Zone
    0400 ET	Eurozone May final manufacturing PMI expected unrevised at 45.0.
    0500 ET	Eurozone Apr unemployment rate expected +0.1 to 11.0%, Mar 10.9%.
    Germany
    0355 ET	German May final manufacturing PMI expected unrevised at 45.0.
    United Kingdom
    0430 ET	UK May manufacturing PMI expected -0.8 to 49.7, Apr 50.5.

    Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.

Walt Disney - DIS - Barchart's Chart of the Day

Barchart.com's Chart of the Day - Walt Disney Company (DIS)

Barchart Research Team - BC - Thu May 31, 7:40PM CDT

Related Stocks

DIS - Walt Disney Company

Sym	Last	Chg	Pct
DIS	44.85	-0.86	-1.88%

The "Chart of the Day" is Walt Disney Company (DIS), which showed up on Thursday's Barchart "All-Time High" list. Disney on Thursday posed a new all-time high of $46.10 and closed up 1.13%. TrendSpotter has been long since May 8 at $44.30. In recent news on the stock, Morgan Stanley on May 29 reiterated its Overweight rating and raised its target to $51 from $46 due to increased margins and its Avengers movie success. Walt Disney Company, with a market cap of $81 billion, is a diversified worldwide entertainment company with operations in five business segments: Media Networks, Studio Entertainment, Theme Parks and Resorts, Consumer Products and Internet and Direct Marketing.


How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
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.

• TrendSpotter: Buy
• Short-Term Indicators: 80% Buy
• Medium-Term Indicators: 100% Buy
• Long-Term Indicators: 100% Buy
• Overall Average 96% Buy

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Barchart links for further information:

Quotes and Charts
Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual

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Chart of the Day Archive
View Past Chart of the Day Reports

3 Small Caps with Mometum

This morning I used Barchart to screen the Small Cap S&P 600 Index stocks to find the 3 with the best momentum and found West Pharmaceutical Services (WST), Jack in the Box (JACK) and Headwaters Inc (HW)

West Pharmaceutical Services (WST)

Barchart technical indicators:

• 100% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving average
• 9 new highs and up 6.57% in the last month
• Relative Strength Index 69.58%
• Barchart computes a technical support level at 47.12
• Recently traded at 47.85 with a 50 day moving average of 43.45

Jack in the Box (JACK)

Barchart technical indicators:

• 100% Barchart technical indicators:
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving average
• 9 new highs and up 13.82% in the last month
• Relative Strength Index 76.30%
• Barchart computes a technical support level at 24.91
• Recently traded at 25.86 with a 50 day moving average of 23.37

Headwaters (HW)

Barchart technical indicators:

• 100% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 3 new highs and up 5.99% in the last month
• Relative Strength Index 62.44%
• Barchart computes a technical support level at 4.21
• Recently traded at 4.60 with a 50 day moving average of 4.15

Barchart Morning Call 5/31

Barchart Morning Call

Thu, 31 May 2012 07:00:00 -0500

Overnight Developments

• June E-mini S&Ps are trading mildly higher by 5.00 points (+0.38%) on today's 0.46% rally in European stocks and some short-covering after yesterday's sharp losses. Commodity prices are mixed with crude oil up +0.20%, gasoline down -0.30%, gold up +0.11%, copper down -0.03%, and agricultural commodities mixed. June 10-year T-notes are slightly lower by 1.5 ticks. The dollar index is mildly lower by -0.19% while the euro is up +0.30%.
• Euro Stoxx 50 is up +0.46% this morning as German retail sales were stronger than expected and the German unemployment rate fell to a new two-decade low of 6.7%. Asian stocks today closed mostly lower following Wednesday's weak U.S. stock market session: Japan -1.05%, Hong Kong -0.32%, China -0.39%, Taiwan +0.55%, Australia -0.44%, Singapore -0.41%, South Korea -0.26%, India -0.57%, Turkey +0.93%.
• Ireland's voters are going to the polls today to vote on the EU fiscal compact, which is a constitutional balanced budget requirement. Opinion polls indicate the measure should be approved by a comfortable margin. However, a surprise "no" vote would be a disaster for Ireland because it would then be unable to tap the Eurozone bailout funds again after 2013 when its current bailout package expires. The results of today's vote are not expected to be known until tomorrow.
• Japan's April industrial production rose +0.2% m/m, which was weaker than market expectations of +0.5% m/m. However, Japan's April housing starts report of +10.3% to 896,000 units was stronger than market expectations of +3.2% to 838,000.
• German April retail sales rose +0.6% m/m, which was stronger than market expectations of +0.2%. In addition, March retail sales were revised higher to +1.6% m/m from +0.8%.
• The German unemployment report was mixed. The German May unemployment rate eased to a two-decade low of 6.7% versus expectations for an unchanged report of 6.8%. However, German unemployment was unchanged, which showed a less favorable labor market than expectations for a decline of -7,000.
• Eurozone May CPI eased to +2.4% y/y from +2.6% and was weaker than expectations of +2.5%, which provided a slightly better inflation picture and may give the ECB a little more room for further monetary policy accommodation.
• India's Q1 GDP eased to a 9-year low of +5.3% y/y, which was weaker than market expectations of +6.1% y/y and down from Q4's report of +6.1% y/y. India's economy has been slowed by weaker investment, fiscal austerity with a cut in the budget deficit to 5.1% of GDP in the current fiscal year from 5.9% last year, and the European debt crisis, which has undercut export prospects. India's central bank has limited room to cut interest rates because of the high +7.23% y/y inflation rate in April.
• Iran tore down two buildings at its Parchin military complex near where Iran is suspected to have tested explosions on how to trigger a nuclear weapon, according to a report by the Institute for Science and International Security. Iran continues to ban IAEA inspectors from visiting the Parchin site.
  Market Comments
  • June E-mini S&Ps this morning are trading mildly higher by 5.00 points as the market sees a little relief rally and as European stocks are trading mildly higher. U.S. stocks on Wednesday closed sharply lower: S&P 500 -1.43%, Dow Jones -1.28%, Nasdaq 100 -0.84%. Bearish factors on Wednesday included (1) the sharp 5.8% drop in April U.S. pending home sales versus expectations of unchanged, (2) rising concern about Spain's bungling of its banking system crisis and the increasing chances that Spain will need a bailout, (3) the 2.3 point drop in the European May economic confidence index to a 2-1/2 year low of 90.6 from 92.9 in April, and (4) general concern that the wheels are coming off the Eurozone with sharp increases yesterday in Spanish and Italian bond yields.
  • June 10-year T-notes this morning are down 1.5 ticks as safe-haven buying is taking a breather with today's mildly higher trade in E-mini S&Ps. T-note prices on Wednesday closed sharply higher: TYM2 +27, FVM2 +11.25. The 10-year T-note yield on Wednesday dropped sharply to a new record low of 1.62%. U.S. T-notes, like German bunds, are seeing heavy safe-haven demand as investors dump stocks and flee to the safety of AAA (German) or AA+ (American) government securities. T-notes are also seeing strength as the recent bout of European trouble along with slower global economic growth increases the chances that the Fed in June will extend its Operation Twist program or start a new securities purchase program.
  • The dollar index this morning is down -0.16 points (-0.19%) and EUR/USD is up -0.00037 (+0.30%) on a pause in the safe-haven trade. USD/JPY is down -0.24 (-0.30%). The dollar index on Tuesday closed slightly higher after edging to a new 1-2/3 year high: Dollar Index +0.54 (+0.65%), EUR/USD -0.0136 (-1.09%), USD/JP-0.42 (-0.50%). The dollar index on Wednesday continued to rally on safe-haven demand and posted a new 1-2/3 year high. Meanwhile, EUR/USD fell sharply to a new 2-year low as investors engaged in wholesale capital flight from euro-denominated investments.
  • July WTI crude oil prices this morning are slightly higher by +0.18 (+0.20%) going into today's weekly DOE report. The market is looking for an increase in today's weekly DOE crude oil inventory figure, although the API's crude oil inventory figure yesterday fell by 350,000 barrels. July gasoline prices this morning are down -0.82 (-0.30%). July crude oil and gasoline prices on Wednesday closed sharply lower: CLN12 -2.94 (-3.24%), RBN2 -0.0596 (-2.10%). Bearish factors for crude oil included pessimism about the world economy and expectations for another increase in U.S. crude oil inventories in Thursday's weekly DOE report to a new 21-3/4 year high. Saudi Oil Minister al-Naimi is getting his wish for $100 Brent crude oil prices as July Brent crude oil yesterday fell to $103.47. July WTI crude oil on Wednesday fell to a new 7-month low while July gasoline fell to a new 5-month low.
  • For the full subscription version of this daily report (plus a 13-page big-picture weekly report), along with the earliest possible delivery in the morning, please visit http://www.barchart.com/register/crbfms_usmc.php
    Today's U.S. Earnings Reports Earnings reports (sorted by mkt cap): JOY-Joy Global (consensus $1.96), SAI-SAIC (0.33), ASNA-Ascena Retail (0.36), ESL-Esterline Tech (1.28), JOSB-Jos A Bank (0.79).
    Global Financial Calendar
    

    Thursday 5/31/12
    United States
    0730 ET	May Challenger job cuts, Apr 11.2%.
    0800 ET	Fed's Pianalto speaks on monetary policy in Cleveland.
    0815 ET	May ADP employment expected +150,000, Apr +119,000.
    n/a	May ICSC chain store sales, Apr +0.6% y/y.
    0830 ET	Weekly initial unemployment claims expected unchanged at 370,000, previous -2,000 to 370,000. Weekly continuing claims expected -10,000 to 3.250 mln, previous -29,000 to 3.260 mln.
    0830 ET	Q1 GDP expected revised to +1.9% from +2.2%. Q1 personal consumption unrevised at +2.9%. Q1 GDP price index expected unrevised at 1.5%. Q1 core PCE, last +2.1%.
    0830 ET	USDA weekly exports.
    0945 ET	May Chicago Purchasing Managers index expected +0.7 to 56.9, Apr -6.0 to 56.2.
    1000 ET	May Milwaukee NAPM index expected +0.5 to 53.4, Apr 52.9.
    1030 ET	DOE Weekly Petroleum Status Report (postponed one day due to Monday's holiday).
    1030 ET	DOE natural gas storage.
    1630 ET	Weekly money supply report and Fed balance sheet.
    Japan
    0000 ET	Japan Apr vehicle production, Mar +143.7% y/y.
    0100 ET	Japan Apr construction orders, Mar -0.3% y/y.
    0100 ET	Japan Apr housing starts expected +3.2% to 838,000, Mar +5.0% to 848,000.
    1950 ET	Japan Q1 capital spending expected +1.0%, Q4 +7.6%. Q1 capital spending ex-software expected -0.1%, Q4 +4.9%.
    Germany
    0200 ET	German Apr retail sale expected +0.2% m/m and +0.3% y/y, Mar +1.6% m/m and +2.3% y/y.
    0355 ET	German May unemployment rate expected 6.8%, Apr 6.8%. May unemployment change expected -7,000, Apr +19,000.
    Euro-Zone
    0500 ET	Eurozone May CPI expected +2.5% y/y, Apr +2.6% y/y.
    United Kingdom
    0200 ET	UK May nationwide house prices expected +0.1% m/m and -1.1% y/y, Apr -0.2% m/m and -0.9% y/y.
    IRE
    n/a	Ireland holds referendum on EU fiscal pact.
    CHI
    2100 ET	China May manufacturing PMI expected -1.3 to 52.0, Apr 53.3.
    2230 ET	China May HSBC manufacturing PMI, Apr 49.3.

    Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.

AZZ Inc - AZZ - Barchart's Chart of the Day

Barchart.coms Chart of the Day - AZZ Inc (AZZ)

Barchart Research Team - BC - Wed May 30, 4:03PM CDT

Related Stocks

AZZ - Azz Inc.

Sym	Last	Chg	Pct
AZZ	54.44	+0.43	+0.80%

The "Chart of the Day" is AZZ Inc (AZZ), which showed up on Wednesday's Barchart "All-Time High" list. AZZ on Wednesday broke out to a new all-time high of $54.64 and closed up 0.80%. TrendSpotter has been long since May 3 at $53.39. In recent news on the stock, AZZ on April 5 reported Q4 EPS of 82 cents, right on market expectations. AZZ on April 30 signed an agreement to acquire Nuclear Logistics, which the company expects to be accretive to earnings to fiscal-year 2013 by 20-25 cents per share. AZZ Inc, with a market cap of $675 million, is an electrical equipment and components manufacturer serving the global growth markets of power generation, transmission and distribution, and industrial markets as well as a provider of hot dip galvanizing services to the steel fabrication market nationwide.



How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
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.

• TrendSpotter: Buy
• Short-Term Indicators: 100% Buy
• Medium-Term Indicators: 75% Buy
• Long-Term Indicators: 100% Buy
• Overall Average 96% Buy

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RDI and KONG buy signals

This morning I added Reading International (RDI) and Kongzhong (KONG) to the Barchart Van Meerten Speculative model portfolio:

Reading International (RDI)

Barchart technical indicators:

• 100% Barchart technical buy signal
• Trend spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 16.85% in the last month
• Relative Strength Index 72.67%
• Barchart computes  a technical support level at 5.69
• Recently traded at 5.79 with a 50 day moving average of 5.01

Kongzhong (KONG)

Barchart technical indicators:

• 96% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 19.95% in the last month
• Relative Strength Index 72.36%
• Barchart computes a technical support level at 6.80
• Recently traded at 6.95 with a 50 day moving average of 5.84