Market Seesaws: Despair Makes Way for Hope

Stocks on Wall Street ended slightly changed on Tuesday, yesterday’s trading dominated by the reflex reactions to the intrigue in the White House which sent investors’ emotions up and down like a rollercoaster. The market went from despair – to hope – indexes seesawing after new concerns were transplanted by optimism about the fruition of Trump’s economic agenda.

Stocks took a sharp downturn after the first trading hour, after emails were revealed from the account of Trump’s firstborn son, which made it evidently clear that Russia was backing his father’s 2016 election campaign. The emails relate to a Russian state attorney who offered the Trump campaign incriminatory information about Democratic opponent, Hillary Clinton.

The market succeeded in recovering fully later in the day’s trading after the Republic Senate majority leader, Mitch McConnell, announced that the recess would be postponed by two weeks to allow more time for working on legislation, a fact that signals progress in executing the Republican agenda.

The deferment of the recess instilled hope in that it communicated commitment on the part of the party in power to enact the changes the market wants to see. The lack of certainty about whether the Trump administration will succeed in pushing through its agenda this year has weighed on market activity of late, especially after the repeated and aborted attempts at pushing through replacement health care legislation.

Daily Summary: The Dow Jones ended unchanged. The S&P 500 ended lightly off by 0.08%, the NASDAQ tacking on 0.27%.

Investors are sitting on the sidelines, waiting to see what will prompt the next market move. Today’s bi-annual testimony of Fed Chair, Janet Yellen, is likely to shed light on the bank’s stance on monetary tightening. Investors are also keeping a watchful eye on the Q2 earnings season which is already underway, but more specifically, on the financial reports from large banks this coming Friday, which will include J.P. Morgan (JPM), Citigroup (C), and Wells Fargo (WFC).

SNAP Inc. (SNAP) continued falling, having nosedived 45% since the latest high achieved shortly after its IPO in March of this year. The stock fell yesterday by 8.9% after its lead underwriter, Morgan Stanley, lowered its price target, voicing concern about the social media company’s ability to hold its own against its competitor, Instagram. For the first time ever, the stock closed on Monday beneath its issue price of $17.

Trading volumes were thin, about 5.9 billion shares trading hands on U.S. exchanges, compared to the 6.9 billion average over the last 20 trading days.

Wednesday: Fed Chairwoman, Janet Yellen, is expected to address the House Financial Services Committee today and the Senate Banking Committee tomorrow. She is expected to stress that the Fed stands to hike rates again this year and that it will start shaving its huge balance sheet which has mushroomed to $4.5 trillion by not repurchasing the maturing bonds it had invested in as part of its QE initiative.

The Economic Diary is rather slim today, save Yellen’s speech. Investors will be awaiting crude inventory figures which will be released at 10:30; last week featured a sharp and substantial downtick in inventories.

Two of the companies that will be reporting before opening include OZRK and FAST.

Index Last Daily change
DJX 21,409 0.00% Up
SPX 2,426 (0.08%) Down
Nasdaq 6,193 0.27% Up

Wednesday’s Hot Stocks: FAST, OZRK, HCSG, NRG

IPOs: CODX – a small IPO

Have a great trading day!



Economic Calendar


DAY TIME (EST) Event Forecast Impact
Tuesday 6:00 NFIB Small Business Optimism Index Medium
Tuesday 10:00 JOLTS Medium
Tuesday 10:00 Wholesale Trade Medium
Wednesday 8:30 Janet Yellen Speaks -0.5% Medium
Wednesday 10:00 Janet Yellen Testifies Medium
Wednesday 10:30 Crude Oil Inventories 185K Low
Thursday 8:30 Initial Claims 244K High
Thursday 8:30 PPI -$46.1B High
Friday 8:30 Consumer Price Index 56.6 High
Friday 8:30 Retail Sales Medium
Friday 9:15 Industrial Production 173K Medium
Friday 10:00 Business Inventories 4.3% Medium
Friday 10:00 Consumer Sentiment High


Earning Calendar


Symbol Company AM/PM Day
HELE Helen of Troy Limited AM Monday
PEP PepsiCo, Inc. AM Tuesday
OZRK Bank of the Ozarks, Inc. AM Wednesday
FAST Fastenal Company AM Wednesday
DAL Delta Air Lines, Inc. AM Thursday
PNC The PNC Financial Services Group, Inc. AM Friday
C Citigroup Inc. AM Friday
WFC Wells Fargo & Company AM Friday
JPM JPMorgan Chase & Co. AM Friday



Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
TJX 68.22 NVCR
EAT 36.44 RDUS
MAC 56



New York Strategy Swing

# Date Stock Long\


Statues Data Close Profit\


1 14.6.2017 SIG Short Close 23.6.2017 +2.29%
2 16.6.2017 AABA (YHOO) Long Close 26.6.2017 +3.14%
3 21.6.2017 KR Short Close 27.6.2017 -2.75%
4 29.6.2017 DKS Short Close 3.7.2017 +1.04%
5 6.7.2017 HAIN Long Open   +1.55%
6 6.7.2017 DKS Short Open   +4.20%
7 10.7.2017 ORCL Long Open +0.85%


Today’s Picks – Swing “New-York Strategy

No.1 –    YUMC

Company Name
Yum China Holdings,
Entry Point 37
Stop Area 37.85
1st Target 36.55
Swing Target 33.56
Avg. Volume 3.38M
Sector Services | Restaurants
Earning Date
Risk Rate Normal
Risk\Reward Ratio 4.05:1