February 2, 2018.

After new and extreme highs on market indexes last Friday, price movement changed directions and continued in similar fashion yesterday. Every day over the last week brought with it significant downward movement, something that we hadn’t seen pretty much since the beginning of the year. The computerized algorithms work in both directions – which is causing a certain level of frustration for market players who have gotten used to unidirectional movement.

The volatility is expected to continue as the market digests a large number of events and figures. Amazon (AMZN) surged 6.27% after releasing beautiful numbers after closing, while Google (GOOGL) and Amgen (AMGN) traded off in late trading. Apple (AAPL) also provided the goods as usual – and investors pushed the stock up after closing by 3.44% on the heels of its solid earnings report.

At the same time, it’s not the initial reaction to reports that will be important – or even the news itself – but rather, whether market players still have the desire to pay high prices for stocks which on the charts are becoming more and more stretched. There will be analysts who will claim that stocks are still cheap, but if you’re looking for smart entry points for stocks, you won’t find them at these levels.

The most important event for the market today is the monthly employment report. The market is becoming more and more worried about the quick rise in governmental bond yields. The ETF tracking governmental bonds spanning 7-10 years, the IEF, is traded at its lowest level since 2014, and a strong employment report today will cause even greater concern that inflation is becoming something that deserves our attention. The good news is that inflation is on the uptick. The bad news – for some market players – is the movement in both directions.

Index

Last

Daily change

DJX26,1490.14%Up
SPX2,824(0.07%)Down
NASDAQ7,411(0.35%)Down

Daily Summary: The Dow Jones rose 0.14%, and the S&P 500 shed 0.07%. The NASDAQ ended off 0.35%.

Friday’s Hot Stocks: AAPL, AMZN, GOOGL, AMGN, MAT

IPOs: FTSI

Have a great trading day!

 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Tuesday9:00S&P Corelogic Case-Shiller0.6 %Medium
Tuesday10:00Consumer Confidence123.4High
Wednesday8:15ADP Employment Report195,000High
Wednesday9:45Chicago PMI64.0Medium
Wednesday10:00Pending Home Sales Index0.4 %Medium
Wednesday10:30Oil Inventories-1.1 M barrelsLow
Wednesday14:00FOMC Meeting Announcement1.375 %High
Thursday8:30Jobless Claims235 KMedium
Thursday9:45PMI Manufacturing Index55.5Medium
Thursday10:00ISM Mfg Index58.7High
Thursday10:00Construction Spending0.5 %Medium
Friday8:30Nonfarm Payrolls176,000 High
Friday8:30Unemployment Rate4.1 %High
Friday8:30Average Hourly Earnings0.3%High
Friday10:00Consumer Sentiment95.0 High
Friday10:00Factory Orders1.5 %Medium

 

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
CAKE51.13 TWTRGES
AMTD57.85 MTORESIO
DVMT 69.34QRVOUSG
   RACECDNS
   NKTRES
   SWKSHSY
   YELP 

 

 

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

16.12.2017SPLKLongClose8.12.2017+1.51%
211.12.2017NKTRLongClose2.1.2017+4.57%
318.12.2017SYYLongClose19.12.2017+0.14%
43.1.2018VOYALongClose8.1.2017+0.67%
54.1.2018TERLongClose10.1.2017+0.45%
69.1.2018SCGLongClose10.1.2017-3.35%
711.1.2018CREELongClose16.1.2018+1.84%
811.1.2018CFLongClose16.1.2018+1.66%
918.1.2018MARKLongClose22.1.2018-0.67%
101.2.018SMLongOpen +1.27%
11      
12      

 

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

No.1 – KNX

Company NameKnight-Swift Transportation Holdings
Entry Point50
Stop Area48.85
1st Target50.70
Swing Target51.94
Avg. Volume2.08M
SectorServices | Trucking
Earning Date
Risk RateNormal
Risk\Reward Ratio1.69:1