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.

IndexLastDaily change
DJX23,330(0.48%)Down
SPX2,557(0.47%)Down
Nasdaq6,564(0.52%)Down

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

IPOs: BPMP, EYE

Have a great trading day!

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Tuesday9:45PMI Composite Flash54.8Medium
Wednesday8:30Durable Goods Orders1.0 %Medium
Wednesday9:00FHFA House Price Index0.4 %Medium
Wednesday10:00New Home Sales555 KMedium
Wednesday10:30Oil InventoriesLow
Thursday8:30Jobless Claims235KMedium
Thursday10:00Pending Home Sales Index0.5 %Medium
Friday8:30GDP2.5 %High
Friday10:00Consumer Sentiment101.1Medium


Earning Calendar

 

SymbolCompanyAM/PMDay
ARNCArconic Inc.AMMonday
HALHalliburton CompanyAMMonday
HASHasbro, Inc.AMMonday
KMBKimberly-Clark CorporationAMMonday
STTState Street CorporationAMMonday
WHRWhirlpool CorporationPMMonday
CATCaterpillar Inc.AMTuesday
EDUNew Oriental Education & Technology Group Inc.AMTuesday
GLWCorning IncorporatedAMTuesday
GMGeneral Motors CompanyAMTuesday
LLYEli Lilly and CompanyAMTuesday
LMTLockheed Martin CorporationAMTuesday
MCDMcDonald’s CorporationAMTuesday
MMM3M CompanyAMTuesday
UTXUnited Technologies CorporationAMTuesday
YNDXYandex N.V.AMTuesday
AMDAdvanced Micro Devices, Inc.PMTuesday
COFCapital One Financial CorporationPMTuesday
ESRXExpress Scripts Holding CompanyPMTuesday
EWEdwards Lifesciences CorporationPMTuesday
ILMNIllumina, Inc.PMTuesday
TAT&T Inc.PMTuesday
TXNTexas Instruments IncorporatedPMTuesday
BAThe Boeing CompanyAMWednesday
BAXBaxter International Inc.AMWednesday
DPSDr Pepper Snapple Group, Inc.AMWednesday
GDGeneral Dynamics CorporationAMWednesday
HESHess CorporationAMWednesday
IPInternational Paper CompanyAMWednesday
IRIngersoll-Rand PlcAMWednesday
KOThe Coca-Cola CompanyAMWednesday
TMOThermo Fisher Scientific Inc.AMWednesday
VVisa Inc.AMWednesday
WBAWalgreens Boots Alliance, Inc.AMWednesday
WYNWyndham Worldwide CorporationAMWednesday
AFLAflac IncorporatedPMWednesday
AMGNAmgen Inc.PMWednesday
CTXSCitrix Systems, Inc.PMWednesday
DLRDigital Realty Trust, Inc.PMWednesday
LVSLas Vegas Sands Corp.PMWednesday
NXPINXP Semiconductors N.V.PMWednesday
ORLYO’Reilly Automotive, Inc.PMWednesday
VRTXVertex Pharmaceuticals IncorporatedPMWednesday
AALAmerican Airlines Group Inc.AMThursday
BMYBristol-Myers Squibb CompanyAMThursday
CELGCelgene CorporationAMThursday
CHTRCharter Communications, Inc.AMThursday
CMCSAComcast CorporationAMThursday
CMECME Group Inc.AMThursday
COPConocoPhillipsAMThursday
HSYThe Hershey CompanyAMThursday
MCKMcKesson CorporationAMThursday
MOAltria Group, Inc.AMThursday
MPCMarathon Petroleum CorporationAMThursday
TWTRTwitter, Inc.AMThursday
UNPUnion Pacific CorporationAMThursday
UPSUnited Parcel Service, Inc.AMThursday
VLOValero Energy CorporationAMThursday
AMZNAmazon.com, Inc.PMThursday
BIDUBaidu, Inc.PMThursday
BMRNBioMarin Pharmaceutical Inc.PMThursday
CERNCerner CorporationPMThursday
GILDGilead Sciences, Inc.PMThursday
GOOGLAlphabet Inc.PMThursday
INTCIntel CorporationPMThursday
KLACKLA-Tencor CorporationPMThursday
MSFTMicrosoft CorporationPMThursday
NOVNational Oilwell Varco, Inc.PMThursday
VRSNVeriSign, Inc.PMThursday
WDCWestern Digital CorporationPMThursday
ABBVAbbVie Inc.AMFriday
AONAon plcAMFriday
CLColgate-Palmolive CompanyAMFriday
COGCabot Oil & Gas CorporationAMFriday
CVXChevron CorporationAMFriday
LYBLyondellBasell Industries N.V.AMFriday
MRKMerck & Co., Inc.AMFriday
PSXPhillips 66AMFriday
VTRVentas, Inc.AMFriday
XOMExxon Mobil CorporationAMFriday

 


 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
FDX227FLIROKE
TROX27.50NKEIRBT
VFC72GRUBALK
  TWX
  INVA

 

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

11.9.2017VNTVLongClose14.9.2017+1.35%
212.9.2017CPBShortClose15.9.2017-1.10%
318.9.2017INSMLongClose22.9.2017+1.92%
425.9.2017GPSLongClose2.10.2017+1.69%
527.9.2017SQMLongClose29.9.2017+1.69%
62.10.2017ATILongClose6.10.2017+3.12%
72.10.2017TROXLongClose18.10.2017+13.93%
83.10.2017ABTLongClose11.10.2017+1.60%
99.10.2017ZGNXLongClose12.10.2017+3.26%
1016.10.2017INSMLongClose19.10.2017-2.82%
1124.10.2017CVSShortOpen +0.58%
 

 

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

 No.1 –   RXDX

Company NameIgnyta
Entry Point16
Stop Area14.95
1st Target16.45
Swing Target18.30
Avg. Volume1.20M
SectorHealthcare | Biotechnology
Earning Date6 Nov
Risk RateNormal
Risk\Reward Ratio2.19:1

 

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