Welcome to the Rude Awakening for Tuesday, November 17^th.

We are looking at a premarket open here, and its looking to the downside

Markets Taking a Breather

The Dow is down about 200 points, as I record.

The S&P looking to be down about 30 points.

The NASDAQ however, once again straying from the action in the Dow and S&P, is looking to open up, just slightly.

Now, the strength in the NASDAQ is largely due to Amazon (AMZN). Well get into that in just a moment.

First

3 Stocks on Todays Watchlist

The first one to look at today, after finally being confirmed to join the S&P 500 index come December

Its none other than Tesla (TSLA).

TSLA is up in the premarket over $50 a share From yesterdays close at $408 theyre looking to open around $460.

Next up, as we are still in earnings season, we have a potential earnings play for you on Target (TGT).

In the premarket, they are looking flat on the day, but theyll report earnings tomorrow morning before market open.

The options on TGT have a 6.6% implied move, making this a great potential trading opportunity for your watchlist.

And speaking of the retail sector

Lets Talk AMZN

There are a couple of things driving Amazon higher, with an expected open up by $50 on the day.

First off, Walmart absolutely CRUSHED on earnings. This earnings beat is driving the whole retail sector higher, which is helping Amazon.

But whats an even bigger driver, Amazon is coming out with a pharmacy service where you can buy discounted prescriptions online.

Thats it for today, folks.

Have a great, safe trading day.

Well talk again tomorrow.

Regards,

Scott Stewart