A Change in the Market’s Character?!

Yesterday, stocks recorded their worst trading day since September. The bears finally made an advance yesterday but to their dismay, didn’t manage to put on the final touches. Despite the consistent losses in the first trading hours, a strong afternoon bounce helped take the some of the punch out of the impact. The number of stocks at new highs plunged sharply, but automatic buying is still alive and well – and provided support yesterday.

The retreat was still very shadow and in the larger picture, has little meaning. At the same time, the market has pushed higher consistently and for so long that yesterday’s movement strays from the character we had seen to present. The potential for a deeper price correction is still there, but it’s rather clear that the market isn’t going to surrender and give up without a fight!

Today, we’ll see an inflow of news with the European Central Bank (ECB) announcement, after which, you should keep your eyes peeled, after closing, for the earnings numbers of Amazon (AMZN), Google (GOOGL) and Microsoft (MSFT). One of the character traits that stood out in the market over the last few months was its ability to utterly ignore the news. Therefore, the market’s response to today’s news items will be a key to understanding the movement from hereon in. In the event, the market’s response to news is amplified – something that hasn’t happened until now – that will be a sign that the change in the market’s character is developing.

It’s better to be careful in a market like our own. In the event what we’re talking about is the market being in the process of peaking, I expect the market to be more volatile and erratic. It will take a little more time and damage before the bulls will be ready to kneel in defeat.

Index Last Daily change
DJX 23,330 (0.48%) Down
SPX 2,557 (0.47%) Down
Nasdaq 6,564 (0.52%) Down

Today’s Hot Stocks: BWLD, LVS, TSCO, CTXS, AAL, CELG

IPOs: BPMP, EYE

Have a great trading day!

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Tuesday 9:45 PMI Composite Flash 54.8 Medium
Wednesday 8:30 Durable Goods Orders 1.0 % Medium
Wednesday 9:00 FHFA House Price Index 0.4 % Medium
Wednesday 10:00 New Home Sales 555 K Medium
Wednesday 10:30 Oil Inventories Low
Thursday 8:30 Jobless Claims 235K Medium
Thursday 10:00 Pending Home Sales Index 0.5 % Medium
Friday 8:30 GDP 2.5 % High
Friday 10:00 Consumer Sentiment 101.1 Medium


Earning Calendar

 

Symbol Company AM/PM Day
ARNC Arconic Inc. AM Monday
HAL Halliburton Company AM Monday
HAS Hasbro, Inc. AM Monday
KMB Kimberly-Clark Corporation AM Monday
STT State Street Corporation AM Monday
WHR Whirlpool Corporation PM Monday
CAT Caterpillar Inc. AM Tuesday
EDU New Oriental Education & Technology Group Inc. AM Tuesday
GLW Corning Incorporated AM Tuesday
GM General Motors Company AM Tuesday
LLY Eli Lilly and Company AM Tuesday
LMT Lockheed Martin Corporation AM Tuesday
MCD McDonald’s Corporation AM Tuesday
MMM 3M Company AM Tuesday
UTX United Technologies Corporation AM Tuesday
YNDX Yandex N.V. AM Tuesday
AMD Advanced Micro Devices, Inc. PM Tuesday
COF Capital One Financial Corporation PM Tuesday
ESRX Express Scripts Holding Company PM Tuesday
EW Edwards Lifesciences Corporation PM Tuesday
ILMN Illumina, Inc. PM Tuesday
T AT&T Inc. PM Tuesday
TXN Texas Instruments Incorporated PM Tuesday
BA The Boeing Company AM Wednesday
BAX Baxter International Inc. AM Wednesday
DPS Dr Pepper Snapple Group, Inc. AM Wednesday
GD General Dynamics Corporation AM Wednesday
HES Hess Corporation AM Wednesday
IP International Paper Company AM Wednesday
IR Ingersoll-Rand Plc AM Wednesday
KO The Coca-Cola Company AM Wednesday
TMO Thermo Fisher Scientific Inc. AM Wednesday
V Visa Inc. AM Wednesday
WBA Walgreens Boots Alliance, Inc. AM Wednesday
WYN Wyndham Worldwide Corporation AM Wednesday
AFL Aflac Incorporated PM Wednesday
AMGN Amgen Inc. PM Wednesday
CTXS Citrix Systems, Inc. PM Wednesday
DLR Digital Realty Trust, Inc. PM Wednesday
LVS Las Vegas Sands Corp. PM Wednesday
NXPI NXP Semiconductors N.V. PM Wednesday
ORLY O’Reilly Automotive, Inc. PM Wednesday
VRTX Vertex Pharmaceuticals Incorporated PM Wednesday
AAL American Airlines Group Inc. AM Thursday
BMY Bristol-Myers Squibb Company AM Thursday
CELG Celgene Corporation AM Thursday
CHTR Charter Communications, Inc. AM Thursday
CMCSA Comcast Corporation AM Thursday
CME CME Group Inc. AM Thursday
COP ConocoPhillips AM Thursday
HSY The Hershey Company AM Thursday
MCK McKesson Corporation AM Thursday
MO Altria Group, Inc. AM Thursday
MPC Marathon Petroleum Corporation AM Thursday
TWTR Twitter, Inc. AM Thursday
UNP Union Pacific Corporation AM Thursday
UPS United Parcel Service, Inc. AM Thursday
VLO Valero Energy Corporation AM Thursday
AMZN Amazon.com, Inc. PM Thursday
BIDU Baidu, Inc. PM Thursday
BMRN BioMarin Pharmaceutical Inc. PM Thursday
CERN Cerner Corporation PM Thursday
GILD Gilead Sciences, Inc. PM Thursday
GOOGL Alphabet Inc. PM Thursday
INTC Intel Corporation PM Thursday
KLAC KLA-Tencor Corporation PM Thursday
MSFT Microsoft Corporation PM Thursday
NOV National Oilwell Varco, Inc. PM Thursday
VRSN VeriSign, Inc. PM Thursday
WDC Western Digital Corporation PM Thursday
ABBV AbbVie Inc. AM Friday
AON Aon plc AM Friday
CL Colgate-Palmolive Company AM Friday
COG Cabot Oil & Gas Corporation AM Friday
CVX Chevron Corporation AM Friday
LYB LyondellBasell Industries N.V. AM Friday
MRK Merck & Co., Inc. AM Friday
PSX Phillips 66 AM Friday
VTR Ventas, Inc. AM Friday
XOM Exxon Mobil Corporation AM Friday

 


 

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
FDX 227 FLIR OKE
TROX 27.50 NKE IRBT
VFC 72 GRUB ALK
    TWX
    INVA

 

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 Open   +0.58%
 

 

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

 No.1 –   RXDX

Company Name Ignyta
Entry Point 16
Stop Area 14.95
1st Target 16.45
Swing Target 18.30
Avg. Volume 1.20M
Sector Healthcare | Biotechnology
Earning Date 6 Nov
Risk Rate Normal
Risk\Reward Ratio 2.19:1

 

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