Picks of the day December 26, 2017.

Last Week of 2017

Stocks recorded very slight gains at the end of this past trading week and it seemed that come Friday, the market’s tank was near empty; investors essentially digested the massive tax reform before entering a long holiday weekend. It’s now the last week of the year and the market usually rises over the last few days of the year and the first few days of the incoming year – in what’s known as a Santa Claus rally.

Despite the fact that the market has already risen 20% in 2017, there are market strategists who are lifting their 2018 forecasts for the S&P 500 and for firm earnings, based on the tax cut signed into law by Donald Trump last Friday, along with the huge U.S. building and infrastructure stimulus package presumably just down the road. Take for example Credit Suisse analysts who raised their 2018 S&P 500 target to 3,000 points.

Trading this week is likely to be restrained, perhaps even featuring flat or sideways movement. Now, with the tax reform bill making it through both chambers of Congress and signed into law, the market will no longer benefit from a tailwind from Capitol Hill.

This coming week investors will focus on the Consumer Price Index on Tuesday, pending home sales on Wednesday and the Leading Indicators Index and initial unemployment claims on Thursday.

IndexLast

Daily change

DJX24,574(0.11%)Down
SPX2,683(0.05%)Down
Nasdaq6,960(0.08%)Down

Have a great trading day!

 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Wednesday9:00S&P Corelogic Case-Shiller HPI0.6 %Medium
Wednesday10:00Consumer Confidence128.0High
Wednesday10:00Pending Home Sales Index0.6 %Medium
Thursday8:30Jobless Claims240 KMedium
Thursday11:00Oil Inventories0.4 %Low
Friday9:45Chicago PMI63.0Medium

 


Today’s Picks – Day Trading
! 

SymbolBreakoutBreakdownMomentumMomentum
MARK$10.82LBTYKRH
PUMP$20.50LNG 
SYF$39.00XPO 
K$68.29WTW 
AA$50.31APC 

  

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

13.11.2017AKAMLongClose8.11.2017+1.37%
210.11.2017JUNOLongClose14.11.2017+1.26%
316.11.2017FLRLongClose25.11.2017+2.16%
46.12.2017SPLKLongClose8.12.2017+1.51%
511.12.2017NKTRLongOpen +3.08%
618.12.2017SYYLongClose19.12.2017+0.14%

 

 

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

No.1 –   SKX

Company NameSkechers U.S.A.
Entry Point38.80
Stop Area36.95
1st Target38.90
Swing Target
Avg. Volume3.23M
SectorConsumer Goods | Textile – Apparel Footwear & Accessories
Earning Date
Risk RateHigh
Risk\Reward Ratio