A Huge Week for the Market, France’s Elections Just the Appetizer

Sunday’s French presidential elections are clearly what’s going to set the tone for the market this coming week, but volatility on markets this coming week could very well be forthcoming from Washington, hinging on anything from tax and health care reform to the ongoing credit ceiling wrangling which could very well shut down Capitol Hill come the end of the month. If that’s not enough, 190 firms on the S&P 500 are expected to report this week, a true – yet atypical onslaught -for but one trading week!

Headlines that the Trump administration is planning to announce a new tax policy this coming week led stocks to jump to some degree in the second half of the trading day on Friday, though all-in-all, it was yet another day in which the market failed to create lasting momentum. Things were looking good for the market on Thursday – and there was no bad news overnight – but buyers’ interest in chasing prices higher was low and didn’t pass muster.

Despite the fact that the main indexes fell on Friday, the losses were limited. Thursday’s momentum evaporated. That could partially be explained by the French presidential elections, concerns about the credit ceiling – or even North Korea – but the lack of momentum has been in the limelight in the current market for at least 7 weeks, and Friday was another example of such.

Of late, neither the bulls nor the bears were able to produce a winning streak. One day, the bulls have the upper hand – and then, already come the next day, the edge falls by the wayside, bears clawing back and dragging prices down. Computerized algorithms apparently strengthen this tendency, i.e. buying the dips and selling the rallies before they can burgeon into anything bigger.

The bulls will claim that support’s continuing to hold its ground, conditions on the ball for an inflow of good news that will lead to a market breakout. The bears, on the flipside, will claim that the uptrend has already been under pressure for almost 2 months and that the promise of good news is nothing but an illusion.

In terms of the overall picture, it’s easier to buy into the bearish camp when taking into account factors like the Fed, the economy, stock valuations, and a lack of progress on the fiscal front and so on – though the bears’ problem until now has always been price movement, and to their dismay, it’s been holding its own!

From a trading perspective, it doesn’t really matter in which direction the market heads; traders are just waiting for the next market shock, the drama’s next episode, and for volatility to pick it up a notch!

This coming week, the earnings season will be going into full gear, with hundreds of companies reporting from a wide range of sectors, from Google (GOOGL) to Exxon-Mobil (XOM), and Caterpillar (CAT), and Bristol-Myers (BMY).

Besides politics and earnings reports, there are a number of key macro figures that will be released this week, including Friday’s Q1 GDP reading, and Thursday’s durable goods orders report.

Index Last Daily change R2 R1 PP S1 S2
DJX 20,548 (-0.15%) Down          
SPX 2,349 (-0.30%) Down 236.91 236.18 235.30 234.57 233.69
Nasdaq 5,911 (-0.11%) Down 132.73 132.39 132.04 131.70 131.35

In Summary for the Week: Stock indexes ended up, the Dow Jones rising 0.43%, the S&P 500 seeing gains of 0.89% and the NASDAQ tacking on 1.66%.

 Have a great trading week!


Economic Calendar


DAY TIME (EST) Event Forecast Impact
Tuesday 9:00 Case-Shiller Home Price Index Medium
Tuesday 9:00 FHFA Housing Price Index Medium
Tuesday 10:00 New Home Sales Medium
Tuesday 10:00 Consumer Confidence Medium
Wednesday 10:30 Crude Inventories Low
Thursday 8:30 Initial Claims High
Thursday 8:30 Durable Orders Medium
Thursday 8:30 Initial Claims High
Thursday 10:00 Pending Home Sales Medium
Friday 8:30 GDP-Adv. Medium
Friday 9:45 Chicago PMI Medium
Friday 10:00 Michigan Sentiment – Final High


Earning Calendar


Symbol Company AM/PM Day
CAT Caterpillar Inc. AM Tuesday
DD E. I. du Pont de Nemours and Company AM Tuesday
KO The Coca-Cola Company AM Tuesday
LLY Eli Lilly and Company AM Tuesday
MCD McDonald’s Corporation AM Tuesday
MMM 3M Company AM Tuesday
VLO Valero Energy Corporation AM Tuesday
X United States Steel Corporation PM Tuesday
JNPR Juniper Networks, Inc. PM Tuesday
COF Capital One Financial Corporation PM Tuesday
ARNC Arconic Inc. PM Tuesday
BA The Boeing Company AM Wednesday
HSY The Hershey Company AM Wednesday
PEP Pepsico, Inc. AM Wednesday
FFIV F5 Networks, Inc. PM Wednesday
AMGN Amgen Inc. PM Wednesday
CELG Celgene Corporation AM Thursday
JCI Johnson Controls International plc AM Thursday
AAL American Airlines Group Inc. AM Thursday
UPS United Parcel Service, Inc. AM Thursday
SBUX Starbucks Corporation PM Thursday
MSFT Microsoft Corporation PM Thursday
GOOGL Google Class A PM Thursday
AMZN Amazon.com, Inc. PM Thursday
CL Colgate-Palmolive Company AM Friday
CVX Chevron Corporation AM Friday
PSX Phillips 66 AM Friday
XOM Exxon Mobil Corporation AM Friday


Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
HD $150.15 AKTX BHI
ED $79.29 IAC MAT
AKTX $22.20 SINA  
ABC $80.82    


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 21.4.2017 +0.61%