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