Strong Q4 Kickoff!

Stocks on Wall Street kicked off Q4 on a positive note on Monday, all 3 major indexes achieving new historic highs, as economic figures pointed to underlying strength. The industrial activity index soared this past month to a high not seen in 13-and-a-half years.

The optimism about the tax reform also continued to support stocks. Last week, President Trump unveiled the largest tax reform in 3 decades. Small-cap stocks on the Russell 2000 continued advancing to new all-time highs. Small stocks are expected to be the biggest winners from the tax cut. There are still a lot of details that need to be stamped out in the new tax plan, but the market is definitely ready to believe that something good is on its way!

Daily Summary: The Dow Jones climbed 0.68%, the S&P 500 rallying 0.39% and the NASDAQ rising 0.32%.

About 6.3 billion shares traded hands on U.S. exchanges, above the average seen over the last 20 trading days.

Tuesday: September car sales will command most of traders’ attention today on Wall Street – and are likely to surge in light of the wide-scale damage wrought to thousands of cars as hurricanes Harvey and Irma reigned supreme. Economists expect to see the annual clip of car sales climb past 17 million, after 5 straight months which saw the clip coming out far beneath.

Earnings reports are expected today from LEN and PAYX before opening.

IndexLastDaily change
DJX22,5580.68%Up
SPX2,5290.39%Up
Nasdaq6,5170.32%Up

Today’s Hot stocks: TSLA, LEN, PAYX, EFX

IPOs: None

Have a great trading day!

 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Monday9:45PMI Manufacturing Index53Medium
Monday10:00ISM Mfg Index58

 

High
Monday10:00Construction Spending0.3 %Medium
Wednesday8:15ADP Employment Report150,000Medium
Wednesday9:45PMI Services Index55.1Medium
Wednesday10:00ISM Non-Mfg Index55.4Medium
Wednesday10:30Oil InventoriesLow
Wednesday15:15Janet Yellen Speaks 21st Century Conference in St. Louis.Medium
Thursday8:30Chain Store Sales270 KMedium
Thursday8:30Jobless Claims265 KMedium
Thursday10:00Factory Orders0.9 %Medium
Friday8:30Nonfarm Payrolls95,000High
Friday8:30Unemployment Rate – Level4.4 %High
Friday8:30Average Hourly Earnings0.3 %High
Friday10:00Wholesale Trade0.7 %

 

Medium

 

Earning Calendar

 

SymbolCompanyAM/PMDay
LENLennar CorporationAMTuesday
PAYXPaychex, Inc.AMTuesday
MONMonsanto CompanyAMWednesday
PEPPepsico, Inc.AMWednesday
STZConstellation Brands, Inc.AMThursday
YUMCYum China Holdings, Inc.PMThursday
HELEHelen of Troy LimitedPMThursday
COSTCostco Wholesale CorporationPMThursday
 

 

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
PPC29.86MRTXMGM
NFX30.05SGMO 
SLB70.01WTW 
NFLX176.55SRPT 

 

 

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%
62.10.2017ATILong  +2.37%
72.10.2017TROXLong  +2.03%
8
9
10
11
12
13
14      
15      
16 
17
18      

  

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

No.1 –   ABT      

Company NameAbbott Laboratories
Entry Point53.70
Stop Area53.15
1st Target54.20
Swing Target54.80
Avg. Volume5.41M
SectorHealthcare | Medical Appliances & Equipment
Earning Date18 Oct
Risk RateNormal
Risk\Reward Ratio2.00:1

 

No.2 – BBY

Company Name
Best Buy Co., Inc.
Entry Point56.90
Stop Area57.75
1st Target56.40
Swing Target51.61
Avg. Volume4.80M
SectorServices | Electronics Stores
Earning Date
Risk RateNormal
Risk\Reward Ratio6.22:1

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