Weakness under the Surface

A mere look at yesterday’s market performance chart is likely to camouflage the undercurrent at play. Trading activity continues to take a turn for the worse. Though the NASDAQ 100 (QQQ) ended in positive territory, the index’s depth was very weak, with only 840 winners and 2,100 losing stocks. A number of large stocks again “covered up” the weakness in the rest of the index’s securities. Apple (AAPL) and NVIDIA (NVDA), themselves, succeeded in hiding some of the weakness.

It’s been exactly a year since the U.S. election campaign came to a close, putting Donald Trump in the White House. And it’s been exactly a year since the huge rally, that started on November 8, 2016, catapulted the S&P 500 20% higher! The question that’s gnawing investors now is “How much longer can the rally last?” History has taught that a rally can last longer than anyone thought reasonable.

Strong earnings reports from American firms, along with an improvement in economic figure and hopes for changes in the U.S. tax code helped push stocks higher since President Trump was elected into office. Over the first and second quarters of the year, earnings of S&P 500 firms grew at a clip of 15.5% and 10.8% respectively. The last earnings season has also proven itself strong. As of now, the consensus is that Q3 earnings, year-over-year have risen 6.3%.

Index Last Daily change
DJX 23,557 0.04% Up
SPX 2,590 (0.05%) Down
Nasdaq 6,768 (0.27%) Down

Wednesday’s Hot Stocks: WTW, MCHP, SWKS, WB, RCL, COH

IPOs: CBTX, IFRX, MCB

 

Have a great trading day!

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Tuesday 6:00 NFIB Small Business Optimism Index 105.0 Medium
Tuesday 10:00 JOLTS 6.082 M Medium
Wednesday 10:30 Oil Inventories Low
Thursday 8:30 Jobless Claims 232 K High
Thursday 10:00 Wholesale Trade 0.3 % Medium
Thursday 10:00 Consumer Sentiment 100.0 High
Tuesday 6:00 NFIB Small Business Optimism Index 105.0 Medium
Tuesday 10:00 JOLTS 6.082 M Medium
Wednesday 10:30 Oil Inventories Low
Thursday 8:30 Jobless Claims 232 K High
Thursday 10:00 Wholesale Trade 0.3 % Medium
Thursday 10:00 Consumer Sentiment 100.0 High
Tuesday 6:00 NFIB Small Business Optimism Index 105.0 Medium
Tuesday 10:00 JOLTS 6.082 M Medium

 

 

Earning Calendar

 

Symbol Company AM/PM Day
CAH Cardinal Health, Inc. AM Monday
CVS CVS Health Corporation AM Monday
MYL Mylan N.V. AM Monday
MCHP Microchip Technology Incorporated PM Monday
PCLN The Priceline Group Inc. PM Monday
SWKS Skyworks Solutions, Inc. PM Monday
COH Coach, Inc. AM Tuesday
EXPD Expeditors International of Washington, Inc. AM Tuesday
HCN Welltower Inc. AM Tuesday
RCL Royal Caribbean Cruises Ltd. AM Tuesday
WB Weibo Corporation AM Tuesday
WLK Westlake Chemical Corporation AM Tuesday
AGU Agrium Inc. PM Tuesday
CLR Continental Resources, Inc. PM Tuesday
DVA DaVita Inc. PM Tuesday
MAR Marriott International, Inc. PM Tuesday
SNAP Snap Inc. PM Tuesday
TTWO Take-Two Interactive Software, Inc. PM Tuesday
HUM Humana Inc. AM Wednesday
MGM MGM Resorts International AM Wednesday
FOXA Twenty-First Century Fox, Inc. PM Wednesday
HOLX Hologic, Inc. PM Wednesday
MNST Monster Beverage Corporation PM Wednesday
SQ Square, Inc. PM Wednesday
COTY Coty Inc. AM Thursday
DISH DISH Network Corporation AM Thursday
JCI Johnson Controls International plc AM Thursday
NCLH Norwegian Cruise Line Holdings Ltd. AM Thursday
PRGO Perrigo Company plc AM Thursday
DIS The Walt Disney Company PM Thursday
LBTYK Liberty Global plc PM Thursday
NVDA NVIDIA Corporation PM Thursday

 

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
CHRW 81.35 GGP CMA
VLO 82.19 MAC HTZ
PSX 95 NKTR MNK
RL 83.26   QGEN
    CAR
    KSS
    SYY
    RL

 

New York Strategy Swing

# Date Stock Long\

Short

Statues Data Close Profit\

Loss

1 1.9.2017 VNTV Long Close 14.9.2017 +1.35%
2 12.9.2017 CPB Short Close 15.9.2017 -1.10%
3 18.9.2017 INSM Long Close 22.9.2017 +1.92%
4 25.9.2017 GPS Long Close 2.10.2017 +1.69%
5 27.9.2017 SQM Long Close 29.9.2017 +1.69%
6 2.10.2017 ATI Long Close 6.10.2017 +3.12%
7 2.10.2017 TROX Long Close 18.10.2017 +13.93%
8 3.10.2017 ABT Long Close 11.10.2017 +1.60%
9 9.10.2017 ZGNX Long Close 12.10.2017 +3.26%
10 16.10.2017 INSM Long Close 19.10.2017 -2.82%
11 24.10.2017 CVS Short Close 1.11.2017 +4.77 %
12 30.10.2017 SKX Long Close 31.10.2017 -1.42%
13 31.10.2017 STX Long Close 2.11.2017 -0.15%
14 3.11.2017 AKAM Long Open   +1.63%
15            
16  
17
18            

 

Today’s Picks – Swing “New-York Strategy

No.1 –    SKX

Company Name Skechers U.S.A
Entry Point 31.33
Stop Area 30.35
1st Target 31.90
Swing Target 34.87
Avg. Volume 3.04M
Sector Consumer Goods | Textile – Apparel Footwear & Accessories
Earning Date
Risk Rate Normal
Risk\Reward Ratio 3.61:1