Earnings of Top Firms Gasp!

Yesterday, the S&P 500 recorded losses for the fourth time in five trading days on the background of a decline in the stocks of Goldman Sachs (GS) and Johnson & Johnson (JNJ) in light of their financial results, alongside geopolitical tension which added to investors’ tension levels.

Goldman Sachs (GS) fell 4.7% to the $215.59 level, after having traded at its lowest level since November 29th. The bank released numbers that missed analysts forecasts, trading revenues taking a turn for the worse. It was the sharpest day of losses for the stock since June 24th, a day after Britain voted to leave the Euro bloc.

Johnson & Johnson (JNJ) tumbled 3.1%, recording its worst trading day in the last 14 months after Q1 revenues didn’t come out in line with analyst forecasts.

The health sector (XLV) fell 1% on the day and the financial sector (XLF) slipped 0.8%, making them the 2 worst performing sectors of the 11 sectors on the S&P 500.

A rough start to the earnings season is likely to add to investors’ concerns about market valuations on the heels of a strong election-fueled rally in which hopes had been pinned on an aggressive growth-oriented posture from the Trump administration, something that had pushed indexes to a series of new historic highs.

In Summary for the Day: The Dow Jones fell 0.55%, the S&P 500 slipping 0.29% and the NASDAQ shedding 0.12%.

Safe haven assets have seen a lot of fanfare of late on the part of investors, gold and treasuries climbing in advance of imminent French elections, tensions flaring between North Korea and the U.S., along with May’s calls for early elections in Britain.

Despite the earnings misses on the part of a number of high profile companies, Q1 results seem altogether promising. Out of the 45 S&P 500 companies which have already reported, 76% trounced expectations.

On the S&P 500, 17 stocks rose to new 52-week highs, 2 dipping to new yearly lows; on the NASDAQ, 40 stocks recorded new 52-week highs, 59 falling to new yearly lows.

About 6.07 billion shares changed hands on U.S. exchanges, compared to the 6.41 billion average over the last 20 trading days.

Wednesday: A fall in governmental bond yields are like a litmus test for market pessimism – and that’s something there’s been a lot of lately! Bond yields move inversely from bond prices. That being the case, bond market purchasing has sent interest rates to levels not even entertained by many experts. However, with the potential at play for more bad news, in the event there’s another development that casts a pallor over the market and that catches players off guard, projections have 10-year T-bond yields falling to 2% or even 1.87%, the levels at which they had traded prior to the elections. On Tuesday, the 10-year T-bond yield fell to 2.165%, its lowest level since November 10th. On March 24th, yields had stood at 2.4%; that was the day on which Congress failed to pass Trump’s bill to replace Obamacare.

The 10-year T-bond yield is important seeing that it’s a general barometer for investor confidence. Likewise, it’s the financial instrument that determines mortgage rates, along with interest rates for other types of loans.

The market, on Wednesday, will glance at the Fed Beige Book on the economy which will be released at 14:00 N.Y. time. In weekly fashion, at 10:30, last week’s petroleum and petroleum product inventories will be released.

Today’s earnings reports will include ABT, MS, and TXT before opening. After closing, be primed for the numbers of EBAY, AXP, QCOM and CSX.

Index Last Daily change R2 R1 PP S1 S2
DJX 20,523 (-0.55%) Down          
SPX 2,342 (-0.29%) Down 236.91 236.18 235.30 234.57 233.69
Nasdaq 5,849 (-0.12%) Down 132.73 132.39 132.04 131.70 131.35


Wednesday’s Hot Stocks: ABT, TXT, IBM, LRCX, RARE

IPOs: None

Have a great trading day!

Economic Calendar


DAY TIME (EST) Event Forecast Impact
Monday 8:30 Empire Manufacturing 13.0 Medium
Monday 10:00 NAHB Housing Market Index 70 Medium
Tuesday 8:30 Housing Starts 1260K Medium
Tuesday 8:30 Building Permits 1240K Medium
Tuesday 9:15 Industrial Production 0.4% Medium
Wednesday 10:30 Crude Inventories Low
Wednesday 14:00 Fed’s Beige Book High
Thursday 8:30 Initial Claims 241K High
Thursday 8:30 Philadelphia Fed 21.8 Medium
Thursday 10:00 Leading Indicators 0.3% Medium
Friday 10:00 Existing Home Sales 5.55M Medium


Earning Calendar


Symbol Company AM/PM Day
UAL United Continental Holdings, Inc. PM Monday
NFLX Netflix, Inc. PM Monday
GS The Goldman Sachs Group, Inc. AM Tuesday
UNH UnitedHealth Group Incorporated AM Tuesday
BAC Bank of America Corporation AM Tuesday
JNJ Johnson & Johnson AM Tuesday
HOG Harley-Davidson, Inc. AM Tuesday
CMA Comerica Incorporated AM Tuesday
OMC Omnicom Group Inc. AM Tuesday
IBM International Business Machines Corporation PM Tuesday
YHOO Yahoo! Inc. PM Tuesday
LRCX Lam Research Corporation PM Tuesday
BLK BlackRock, Inc. AM Wednesday
ABT Abbott Laboratories AM Wednesday
MS Morgan Stanley AM Wednesday
TXT Textron Inc. AM Wednesday
URI United Rentals, Inc. PM Wednesday
EBAY eBay Inc. PM Wednesday
CSX CSX Corporation PM Wednesday
QCOM QUALCOMM Incorporated PM Wednesday
AXP American Express Company PM Wednesday
PM Philip Morris International Inc. AM Thursday
TRV The Travelers Companies, Inc. AM Thursday
BBT BB&T Corporation AM Thursday
DOV Dover Corporation AM Thursday
DHI D.R. Horton, Inc. AM Thursday
NUE Nucor Corporation AM Thursday
V Visa Inc. PM Thursday
GE General Electric Company AM Friday
NEE NextEra Energy, Inc. AM Friday
HON Honeywell International Inc. AM Friday
SLB Schlumberger Limited AM Friday
STI SunTrust Banks, Inc. AM Friday


Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
FDX 183 SNAP  
SKX 24.64 TWI  


New York Strategy Swing

# Date Stock Long\


Statues Data Close Profit\


1 6.3.2017 LBTYK Long Close 14.3.2017 +2.47%
2 8.3.2017 FTNT Long Close 9.3.2017 +0.37%
3 13.3.2017 ARNC Long Close 21.3.2017 +1.92%
4 14.3.2017 MOMO Long Close 20.3.2017 +5.50%
5 15.3.2017 PTLA Long Close 17.3.2017 +0.65%
6 17.3.2017 NTNX Long Close 21.3.2017 -4.23%
7 22.3.2017 FNSR Short Close 25.3.2017 -2.78%
8 27.3.2017 AKAO Long Close 31.3.2017 +11.31%
9 30.3.2017 AFSI Short Close 3.4.2017 -6.63%
10 3.4.2017 ARNC Long Close 31.3.2017 -2.52%
11 3.4.2017 GME Short Close 10.4.2017 +1.95%
12 5.4.2017 IPXL Long Close 11.4.2017 +7.03%
13 13.4.2017 NKTR Long Open   -0.39%


Today’s Picks – Swing “New-York Strategy”

Company Name
Sears Holdings
Entry Point 14.09
Stop Area 13.20
1st Target 14.60
Swing Target 18.18
Avg. Volume 1.93M
Sector Services | Department Stores
Earning Date
Risk Rate Normal
Risk\Reward Ratio 4.60:1


Company Name
Entry Point  
Stop Area
1st Target  
Swing Target
Avg. Volume  
Earning Date
Risk Rate
Risk\Reward Ratio

 No.1 –  SHLD

Company Name
Sears Holdings
Entry Point 14.09
Stop Area 13.20
1st Target 14.60
Swing Target 18.18
Avg. Volume 1.93M
Sector Services | Department Stores
Earning Date
Risk Rate Normal
Risk\Reward Ratio 4.60:1