March 16, 2018.

After a number of losing days, the market is seeking new headlines to justify more buying. Buying pressure though doesn’t have to be driven by good news. The market loves to buy the corrections produced by bad news. What the bears fail to realize time in and time out is that there are more and more people are seeking reasons to buy rather than sell. The inclination of investors now is to buy the market rather than flee. Bad news create better entry points and therefore such news is well-received on Wall Street, fear seemingly barred at present. No Fear!

Technically, the indexes seem to be in a good position. The S&P 500 succeeded in maintaining their support around the 2,747 point level, through which the 50-period EMA passes. The index can allow itself to break up this level and slide lower, but if it tests the 2,700 point level that would already be a reason for greater worry.

Yesterday, the S&P 500 ended slightly off, stretching its losing streak to 4, its longest losing streak since December ’17. The earning season has wrapped up and therefore, political development, like this week’s canning of Secretary of State, Rex Tillerson, substantially affects stocks’ direction. The market is looking for something – anything – to transpose it form the trading range in which it’s been locked.

Earlier, the S&P 500 opened up after governmental figures showed that initial unemployment claims fell last week, pointing to job market strength. Additional proof to the market’s strengthening came from manufacturing surveys from the N.Y. and Philadelphia Fed which also noted job market strength.

 Daily Summary: The Dow Jones rose 0.47%, the S&P 500 shedding 0.08%. The NASDAQ ended lightly off by 0.20%.

One of the stocks that stood out in yesterday’s trading was Alibaba (BABA) which soared 3.4% against the backdrop of reports that the online commerce giant is planning to list its shares in China.

Dollar General (DG) rose 4.8% after the dollar store chain report quarterly sales that trounced analyst forecasts.

Qorvo (QRVO) fell 3.9% after Bank of America analysts expressed concern that the radio chipmaker is likely to be bumped from the iPhone, in its stead, to be replaced by a solution from Broadcom (AVGO).

Trading volumes came to 6.65 billion shares on U.S. exchanges, compared to the 7.08 billion average over the last 20 trading days.

Index

Last

Daily change

DJX24,8740.47%Up
SPX2,747(0.08%)Down
NASDAQ7,482(0.20%)Down

Hot Stocks: ADBE, OSTK, JBL, ZUMZ, TIF

 IPOs: ZS

Have a great trading day!

 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Tuesday8:30Consumer Price Index0.2 %Medium
Wednesday8:30PPI-FD0.2 %Medium
Wednesday8:30Retail Sales0.4 %Medium
Wednesday10:00Business Inventories0.5 %Medium
Wednesday10:30Oil Inventories2.4 M barrelsLow
Thursday8:30Jobless Claims230 KMedium
Thursday8:30Philadelphia Fed Business Outlook Survey23.3Medium
Thursday8:30Empire State Mfg Survey14.6Medium
Thursday8:30Import and Export Prices0.3 %   / 0.3%Medium
Thursday10:00Housing Market Index72Medium
Friday Quadruple Witching  
Friday8:30Housing Starts1.284 MMedium
Friday9:15Industrial Production0.3 %Medium
Friday10:00Consumer Sentiment98.5High
Friday10:00JOLTS5.800 MMedium

 

 

Earning Calendar

 

SymbolCompanyAM/PMDay
QDQudian Inc.AMMonday
WUBA58.com Inc.AMMonday
GBTGlobal Blood Therapeutics Inc.PMMonday
COUPCoupa Software IncorporatedPMMonday
DKSDick’s Sporting Goods, Inc.AMTuesday
GDSGDS Holdings LimitedAMTuesday
SIGSignet Jewelers LimitedAMWednesday
WSMWilliams-Sonoma, Inc.PMWednesday
YRDYirendai Ltd.PMWednesday
JUNOJuno Therapeutics, Inc.PMWednesday
CTRPCtrip.com International, Ltd.PMWednesday
BITABitauto Holdings LimitedAMThursday
DGDollar General CorporationAMThursday
JBLJabil Inc.PMThursday
ULTAUlta Beauty, Inc.PMThursday
AVGOBroadcom LimitedPMThursday
TIFTiffany & Co.AMFriday

 

  

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
TAL39.28 FEYETLRD
MOMO38  BITA
AAOI 26.11 ENB
HAL 44.98 AAOI
CMCM 11.65 TPX
    WMB

 

New York Strategy Swing

#DateStockLong\

Short

StatusData CloseProfit\

Loss

13.1.2018VOYALongClose8.1.2017+0.67%
24.1.2018TERLongClose10.1.2017+0.45%
39.1.2018SCGLongClose10.1.2017-3.35%
411.1.2018CREELongClose16.1.2018+1.84%
511.1.2018CFLongClose16.1.2018+1.66%
618.1.2018MARKLongClose22.1.2018-0.67%
71.2.2018SMLongClose2.2.2018-1.06%
814.2.2018HOLXShortClose15.2.2018-2.7%
926.2.2018FOSLLongClose9.3.2018-1.47%
1028.2.2018APAShortClose2.3.2018-0.87%
115.3.2018AKAMLongClose13.3.2018+4.14%
125.3.2018FOXLongClose13.3.2018+2.25%
1312.3.2018CBGLongOpen -0.83%
1413.3.2018BOXShortClose15.3.2018+0.22%

  

 

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

No.1 –   TAL

Company NameTAL Education Group
Entry Point39.28
Stop Area37.80
1st Target39.90
Swing Target
Avg. Volume5.69M
SectorServices | Rental & Leasing Services
Earning Date
Risk RateNormal
Risk\Reward Ratio 

 

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