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

DJX 24,874 0.47% Up
SPX 2,747 (0.08%) Down
NASDAQ 7,482 (0.20%) Down

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

 IPOs: ZS

Have a great trading day!

 

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Tuesday 8:30 Consumer Price Index 0.2 % Medium
Wednesday 8:30 PPI-FD 0.2 % Medium
Wednesday 8:30 Retail Sales 0.4 % Medium
Wednesday 10:00 Business Inventories 0.5 % Medium
Wednesday 10:30 Oil Inventories 2.4 M barrels Low
Thursday 8:30 Jobless Claims 230 K Medium
Thursday 8:30 Philadelphia Fed Business Outlook Survey 23.3 Medium
Thursday 8:30 Empire State Mfg Survey 14.6 Medium
Thursday 8:30 Import and Export Prices 0.3 %   / 0.3% Medium
Thursday 10:00 Housing Market Index 72 Medium
Friday   Quadruple Witching    
Friday 8:30 Housing Starts 1.284 M Medium
Friday 9:15 Industrial Production 0.3 % Medium
Friday 10:00 Consumer Sentiment 98.5 High
Friday 10:00 JOLTS 5.800 M Medium

 

 

Earning Calendar

 

Symbol Company AM/PM Day
QD Qudian Inc. AM Monday
WUBA 58.com Inc. AM Monday
GBT Global Blood Therapeutics Inc. PM Monday
COUP Coupa Software Incorporated PM Monday
DKS Dick’s Sporting Goods, Inc. AM Tuesday
GDS GDS Holdings Limited AM Tuesday
SIG Signet Jewelers Limited AM Wednesday
WSM Williams-Sonoma, Inc. PM Wednesday
YRD Yirendai Ltd. PM Wednesday
JUNO Juno Therapeutics, Inc. PM Wednesday
CTRP Ctrip.com International, Ltd. PM Wednesday
BITA Bitauto Holdings Limited AM Thursday
DG Dollar General Corporation AM Thursday
JBL Jabil Inc. PM Thursday
ULTA Ulta Beauty, Inc. PM Thursday
AVGO Broadcom Limited PM Thursday
TIF Tiffany & Co. AM Friday

 

  

 

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
TAL 39.28   FEYE TLRD
MOMO 38     BITA
AAOI   26.11   ENB
HAL   44.98   AAOI
CMCM   11.65   TPX
        WMB

 

New York Strategy Swing

# Date Stock Long\

Short

Status Data Close Profit\

Loss

1 3.1.2018 VOYA Long Close 8.1.2017 +0.67%
2 4.1.2018 TER Long Close 10.1.2017 +0.45%
3 9.1.2018 SCG Long Close 10.1.2017 -3.35%
4 11.1.2018 CREE Long Close 16.1.2018 +1.84%
5 11.1.2018 CF Long Close 16.1.2018 +1.66%
6 18.1.2018 MARK Long Close 22.1.2018 -0.67%
7 1.2.2018 SM Long Close 2.2.2018 -1.06%
8 14.2.2018 HOLX Short Close 15.2.2018 -2.7%
9 26.2.2018 FOSL Long Close 9.3.2018 -1.47%
10 28.2.2018 APA Short Close 2.3.2018 -0.87%
11 5.3.2018 AKAM Long Close 13.3.2018 +4.14%
12 5.3.2018 FOX Long Close 13.3.2018 +2.25%
13 12.3.2018 CBG Long Open   -0.83%
14 13.3.2018 BOX Short Close 15.3.2018 +0.22%

  

 

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

No.1 –   TAL

Company Name TAL Education Group
Entry Point 39.28
Stop Area 37.80
1st Target 39.90
Swing Target
Avg. Volume 5.69M
Sector Services | Rental & Leasing Services
Earning Date
Risk Rate Normal
Risk\Reward Ratio  

 

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

 

 

 

Contact Information

Tradenet Capital Markets Ltd.

Phone+1-516-210-4148
+44-20-36420372
Mail[email protected] Websitewww.tradenet.com

Tradenet is a day trading training school. We offer courses including lessons about stock trading, CFDs, options, futures and foreign exchange.
At Tradenet, we specialize in providing day trading courses with inexperienced beginners and experienced traders.
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