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
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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
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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% | |
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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 |