HONG KONG (AP) — China manufacturing shrank for the third straight month in May as demand remained soft, raising the chances of more stimulus to prop up growth in the world’s No. 2 economy.
HSBC’s preliminary manufacturing index, based on a monthly survey of factory purchasing managers, came in at 49.1 for May. That’s slightly better than 48.9 in April but still in contractionary territory on the 100-point index. Numbers above 50 indicate expansion.
The report released Thursday said that factory production fell to its lowest level in 13 months, after holding steady last month.
New export orders also declined, swinging from an increase in April, although overall new orders contracted at a slower rate.
HSBC’s gauge of China manufacturing shows it remains in contraction territory.
Stock Market Today
Market Breadth was even, as profit taking was evident despite the FOMC minutes.
As usual, day traders got the two-way spike we discussed in the game plan meeting. We went as far to say don’t trade if you weren’t experienced yet at making quick decisions. There will always be opportunity to make money, you don’t need to pick a fight with the market on a day with so much indecision.
Today’s economic calendar is full highlighted by: initials claims, existing home sales, Philadelphia Fed, leading indicators and natural gas inventories.
Stocks to Trade |Thursday May 21, 2015
- Marian called for SPY 215, yesterday’s high should be the short-term top.
- Airlines got clobbered yesterday. Look for follow through today.
Interesting Chart Lessons:
Earnings in play today > 1M avg shares: ARUN, ARO, BBY, BRCD, DLTR, GPS, HPQ, INTU, MRVL, ROST, TSL
Bullish Ideas ATR/Volume/Price: WBAI, GPRO, YUM, TSLA, CTRP, BABA, TWC, SWKS, IBM, SCTY, AET, ESRX>89, UNH>122
Bearish Ideas ATR/Volume/Price: wynn, kss, qihu, apc, apa, bidu, hes, eog, ua, nov
Weak Stock Weak Close: ddd, ual, luv, qihu, bby
Strong Stock Weak Close: TSLA, CBI, TTWO, M, TJX,
Weak Stock Strong Close: mgm, hes, lvs
Strong Stock Strong Close: CVZ, OPK, TWC, ADI
20 day Breakdown: ual, luv, qihu, bby, dltr, wmt
20 Day Breakout: CVC, OPK, BABA, TWC, VOD, ADI
2x Normal Volume: CVC, ETSY, LUV, UAL, YHOO, AEO, ADSK, LOW, ADI, DAL, TWC, JBLU, TTWO, CSIQ, BBY
Watch List Longs: TWC, BK, AET, HON, COF, WFC, GE, NEM
Watch List Short: kss, bby, sunhal, cop, cvx, all, wmt, amat, wmt
Inside days: ADM, JNPR
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