February 28, 2018.

The major U.S. stock indexes fell for the first time in 4 days on Tuesday on the heels of the congressional testimony of the new Fed Chair, Jerome Powell, which sent bond yields rising. The new Fed Chair signaled that the central bank is likely to hike rates 4 times this year, one rate hike over and beyond both investors’ forecast and the central bank’s prior forecast of just 3 hikes. Powell conditioned the pace of rate hikes on the strength of the economy and the efforts needed to prevent the economy from overheating and piquing inflation.

Daily Summary: The Dow Jones fell 1.16%, the S&P 500 dropping 1.27% and the NASDAQ slipping 1.27%.

There was nothing surprising in what Powell had to say. In his speech he was neither dead set in favor of hiking rates or adamantly against slowing the pace of new hikes, but his appearance before Congress was a trigger for movement. It doesn’t really matter for computerized algorithms the direction the market charts for itself. Simply put, they’re just looking for movement – and this time it was down.

So, what’s next? The last time we saw a trigger similar to yesterday’s, it led to a collapse of the ETF shorting volatility, creating a breathless market plunge. We could very well see the same thing playing out again, but there’s no way to really know what will happen in practice.

The best assumption at this point is indeed to expect further losses. There’s no immediate technical support level and like we’ve seen already, the market’s tendency over the last month has been to see ongoing, continuous movement – in either direction! The market closed yesterday at its daily low, the candle recorded on the daily chart looking very similar to the one we saw on January 30th.



Daily change

DJX 25,410 (1.16%) Down
SPX 2,744 (1.27%) Down
NASDAQ 7,330 (1.23%) Down

Wednesday’s Hot Stocks: ETSY, ELF, ESRX, CELG, AAXN, WTW, PZZA, HTZ, VRX, TJX, LOW

IPOs: None

Have a great trading day!

Economic Calendar


DAY TIME (EST) Event Forecast Impact
Monday 10:00 New Home Sales 600 K Medium
Tuesday 8:30 Durable Goods Orders -2.0 % Medium
Tuesday 8:30 Wholesale Inventories 0.3 % Medium
Tuesday 9:00 S&P Corelogic Case-Shiller HPI 0.7 % Medium
Tuesday 9:00 FHFA House Price Index 0.5 % Medium
Tuesday 10:00 Consumer Confidence 126.0 High
Tuesday 10:00 Jerome Powell Speaks High
Wednesday 8:30 GDP 2.5 % High
Wednesday 9:45 Chicago PMI 65.0  Medium
Wednesday 10:00 Pending Home Sales Index 0.5 % Medium
Wednesday 10:30 Oil Inventories -1.6 M barrels Low
Thursday 8:30 Jobless Claims 230 K Medium
Thursday 8:30 Personal Income and Outlays 0.3 % Medium
Thursday 9:45 PMI Manufacturing Index 55.7 Medium
Thursday 10:00 ISM Mfg Index 58.6 High
Thursday 10:00 Construction Spending 0.3 % Medium
Thursday 10:00 Jerome Powell Speaks High
Thursday 11:00 William Dudley Speaks Medium
Friday 10:00 Consumer Sentiment 99.5 High


Earning Calendar


Symbol Company AM/PM Day
PANW Palo Alto Networks, Inc. PM Monday
SBAC SBA Communications Corporation PM Monday
BRK-A Berkshire Hathaway Inc. PM Monday
CLVS Clovis Oncology, Inc. PM Monday
IONS Ionis Pharmaceuticals, Inc. AM Tuesday
EV Eaton Vance Corp. AM Tuesday
DISCA Discovery Communications, Inc. AM Tuesday
M Macy’s, Inc. AM Tuesday
LAMR Lamar Advertising Company (REIT) AM Tuesday
TOL Toll Brothers, Inc. AM Tuesday
SERV ServiceMaster Global Holdings, Inc. AM Tuesday
AZO AutoZone, Inc. AM Tuesday
AMT American Tower Corporation (REIT) AM Tuesday
PRGO Perrigo Company plc AM Tuesday
ALB Albemarle Corporation PM Tuesday
SQ Square, Inc. PM Tuesday
EOG EOG Resources, Inc. PM Tuesday
WDAY Workday, Inc. PM Tuesday
ESRX Express Scripts Holding Company PM Tuesday
PCLN Booking Holdings Inc. PM Tuesday
BUFF Blue Buffalo Pet Products, Inc. PM Tuesday
JAZZ Jazz Pharmaceuticals Public Limited Company PM Tuesday
VEEV Veeva Systems Inc. PM Tuesday
DXCM DexCom, Inc. PM Tuesday
ACAD ACADIA Pharmaceuticals Inc. PM Tuesday
EVHC Envision Healthcare Corporation PM Tuesday
WTW Weight Watchers International, Inc. PM Tuesday
TSRO Tesaro, Inc. PM Tuesday
RRC Range Resources Corporation PM Tuesday
ETSY Etsy, Inc. PM Tuesday
TDOC Teladoc, Inc. PM Tuesday
HZNP Horizon Pharma Public Limited Company AM Wednesday
DY Dycom Industries, Inc. AM Wednesday
VRX Valeant Pharmaceuticals International, Inc. AM Wednesday
LOW Lowe’s Companies, Inc. AM Wednesday
TJX The TJX Companies, Inc. AM Wednesday
ADI Analog Devices, Inc. AM Wednesday
MYL Mylan N.V. PM Wednesday
MNST Monster Beverage Corporation PM Wednesday
LB L Brands, Inc. PM Wednesday
CRM Salesforce.com, inc. PM Wednesday
BLUE bluebird bio, Inc. PM Wednesday
BOX Box, Inc. PM Wednesday
BID Sotheby’s AM Thursday
KSS Kohl’s Corporation AM Thursday
BBY Best Buy Co., Inc. AM Thursday
VMW VMware, Inc. PM Thursday
NKTR Nektar Therapeutics PM Thursday
GPS The Gap, Inc. PM Thursday
SPLK Splunk Inc. PM Thursday
JWN Nordstrom, Inc. PM Thursday
NTNX Nutanix, Inc. PM Thursday
SRPT Sarepta Therapeutics, Inc. PM Thursday
PSTG Pure Storage, Inc. PM Thursday
FL Foot Locker, Inc. AM Friday
JD JD.com, Inc. AM Friday


Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
TMHC   22.83   AKRX
KBH   28.56   XOM
APA   34.50   TOL



New York Strategy Swing

# Date Stock Long\


Status Data Close Profit\


1 6.12.2017 SPLK Long Close 8.12.2017 +1.51%
2 11.12.2017 NKTR Long Close 2.1.2017 +4.57%
3 18.12.2017 SYY Long Close 19.12.2017 +0.14%
4 3.1.2018 VOYA Long Close 8.1.2017 +0.67%
5 4.1.2018 TER Long Close 10.1.2017 +0.45%
6 9.1.2018 SCG Long Close 10.1.2017 -3.35%
7 11.1.2018 CREE Long Close 16.1.2018 +1.84%
8 11.1.2018 CF Long Close 16.1.2018 +1.66%
9 18.1.2018 MARK Long Close 22.1.2018 -0.67%
10 1.2.2018 SM Long Close 2.2.2018 -1.06%
11 14.2.2018 HOLX Short Close 15.2.2018 -2.7%
12 26.2.2018 FOSL Long Open   +0.29%


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

No.1 –   APA

Company Name Apache Corporation
Entry Point 34.50
Stop Area 36.55
1st Target 33.60
Swing Target
Avg. Volume 4.24M
Sector Basic Materials | Independent Oil & Gas
Earning Date
Risk Rate High
Risk\Reward Ratio  

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