It was a calm trading day on Wall Street but it was just what the market needed after 7 days of wild movement. Yesterday, we saw the narrowest trading range since February 1, but the question now is whether we’ve seen the last gale or rather, we’re headed now for the eye of the storm.

The bears will say that higher interest rates are just the beginning and that very shortly we’ll see the latest bottom tested. The bulls, on their part, will claim that the last price correction was necessary and even desirable, and that the economy and fundamentals remained unchanged.

On a technical level, the indexes advanced rapidly over the last few days, and a retreat – to a certain extent – would make sense, but this is a market that has proved over the last few years that it tends more to experience a “V” shaped recovery rather than a more traditional retest, only to be followed up thereafter by upward momentum.

In our estimate, despite the calm movement yesterday, the volatility is here to stay for the near future. It won’t be wild to the extent that it was over the last 9 trading days, but relatively speaking, we’re going to be seeing larger trading ranges and the movement will be more random and less predictable.

The Consumer Price Index (CPI) figures will be released today before opening at 8:30 N.Y. time and will command a lot of attention. The market didn’t pay these figures much heed over the last few months seeing that inflation wasn’t weighing on players’ minds, but if we see robust inflation numbers today, we’re going to see significant movement.

Even in the event that most of the price correction is behind us, trading has indeed changed – which, to ensure success, mandates a different trading style than traders had acclimated to over the last few weeks. It’s hard to believe that we’ll return to the same movement pattern that we saw in January, when the market traded up on a beeline, uninterrupted.

IndexLast

Daily change

DJX24,6400.16%Up
SPX2,6630.26%Up
NASDAQ7,0140.45%Up

, mandates a different trading style than traders had acclimated to over the last few weeks. It’s hard to believe that we’ll return to the same movement pattern that we saw in January, when the market traded up on a beeline, uninterrupted.

Daily Summary: The Dow Jones rose 0.16%, the S&P 500 tacking on 0.26%. The NASDAQ tacked on 0.45%.

Hot Stocks: BIDU, FOSL, CMG, MET, OXY, BG, TAP, WYN

IPOs: None

Have a great trading day!

 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Tuesday6:00NFIB Small Business Optimism Index105.8Medium
Wednesday8:30Consumer Price Index0.3 %   High
Wednesday8:30Retail Sales0.3 %   Medium
Wednesday10:00Business Inventories0.2 %   Medium
Wednesday10:30Oil Inventories1.9 M barrelsLow
Thursday8:30Jobless Claims229 KMedium
Thursday8:30Philadelphia Fed Business Outlook Survey21.5Medium
Thursday8:30PPI0.4 %High
Thursday8:30Empire State Mfg Survey17.5Medium
Thursday9:15Industrial Production0.2 %Medium
Thursday10:00Housing Market Index72Medium
Friday8:30Housing Starts1.230 MMedium
Friday8:30Import and Export Prices0.6 %Medium
Friday10:00Consumer Sentiment95.5High


 

Earning Calendar

 

SymbolCompanyAM/PMDay
PEPPepsico, Inc.AMTuesday
TRUTransUnionAMTuesday
BIDUBaidu, Inc.PMTuesday
DVADaVita Inc.PMTuesday
FANGDiamondback Energy, Inc.PMTuesday
METMetLife, Inc.PMTuesday
OXYOccidental Petroleum CorporationPMTuesday
BGBunge LimitedAMWednesday
DPSDr Pepper Snapple Group, Inc.AMWednesday
TAPMolson Coors Brewing CompanyAMWednesday
WYNWyndham Worldwide CorporationAMWednesday
AAgilent Technologies, Inc.PMWednesday
ABXBarrick Gold CorporationPMWednesday
AEMAgnico Eagle Mines LimitedPMWednesday
AMATApplied Materials, Inc.PMWednesday
CSCOCisco Systems, Inc.PMWednesday
MARMarriott International, Inc.PMWednesday
MROMarathon Oil CorporationPMWednesday
NTAPNetApp, Inc.PMWednesday
WMBThe Williams Companies, Inc.PMWednesday
PRGOPerrigo Company plcAMThursday
SHOPShopify Inc.AMThursday
TRPTransCanada CorporationAMThursday
WMWaste Management, Inc.AMThursday
YNDXYandex N.V.AMThursday
ZTSZoetis Inc.AMThursday
ANDVAndeavorPMThursday
ANETArista Networks, Inc.PMThursday
CBSCBS CorporationPMThursday
DLRDigital Realty Trust, Inc.PMThursday
LBTYALiberty Global plcPMThursday
CPBCampbell Soup CompanyAMFriday
DEDeere & CompanyAMFriday
KHCThe Kraft Heinz CompanyAMFriday
KOThe Coca-Cola CompanyAMFriday
SJMThe J. M. Smucker CompanyAMFriday
TRGPTarga Resources Corp.AMFriday
XRAYDENTSPLY SIRONA Inc.AMFriday

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
LPX31.07 TWTRKMX
TPR50.71 MTCH 
OKTA31.80 TRIP 
VFC83   
BW6.68   

 

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%
101.2.018SMLongClose2.2.2018-1.06%

 

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

 No.1 –  HOLX

Company NameHologic
Entry Point37.60
Stop Area38.70
1st Target37.10
Swing Target35.33
Avg. Volume2.83M
Sector 
Earning Date
Risk RateNormal
Risk\Reward Ratio2.06:1

Risk Rates: Normal – Regular size, High –Consider reducing size, Low – Consider increasing size