Market Rallies, Euphoria Absent
Over the last few months, the market set new highs not only on a price basis but also in terms of the narrowness of the trading range and the extent to which volatility has been checked and restrained. All of this was germane on Friday! The NASDAQ let out a huge burst of energy, a smattering of tech giants, namely Amazon (AMZN), Google (GOOGL), and Microsoft (MSFT) whisking the index higher.
It was the second time in just one week that the market was propelled higher by just a few, numbered companies. On Tuesday, Caterpillar (CAT) and 3M (MMM) pushed the Dow to record substantial gains, the rest of the market, though, barely moving.
Narrow markets can always expand their range – and that’s what happened to a certain degree on Friday. If the current rally, though, doesn’t expand to include a larger number of participating stocks, and quickly at that, the basis for the latest movement will become weaker and the chance of a reversal can only grow.
The bulls are continuing to rally and the NASDAQ has once again thrown dust in the eyes of skeptics. The big movement on Friday got a lot of attention from the media, but that was nothing compared to the euphoria the financial media tried in vain to project. Regardless, the upward rally plods on and any attempt to pinpoint when the market has already peaked, is nothing more than a costly, extraneous waste of time.
Index | Last | Daily change | |
DJX | 23,433 | 0.14% | Up |
SPX | 2,581 | 0.81% | Up |
Nasdaq | 6,701 | 2.20 % | Up |
Have a great trading week!
Economic Calendar
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DAY | TIME (EST) | Event | Forecast | Impact |
Monday | 8:30 | Personal Income and Outlays | 0.4 % | Medium |
Tuesday | 9:00 | S&P Corelogic Case-Shiller HPI | 0.5 % | Medium |
Tuesday | 9:45 | Chicago PMI | 62.0 | Medium |
Tuesday | 10:00 | Consumer Confidence | 121.0 | High |
Wednesday | 8:15 | ADP Employment Report | 220,000 | Medium |
Wednesday | 9:45 | PMI Manufacturing Index | 54.5 | Medium |
Wednesday | 10:00 | ISM Mfg Index | 59.5 | High |
Wednesday | 10:00 | Construction Spending | 0.1 % | Medium |
Wednesday | 10:30 | Oil Inventories | – | Low |
Thursday | 8:30 | Jobless Claims | 235 K | Medium |
Thursday | 8:30 | Productivity and Costs | 2.4 % | Medium |
Friday | 8:30 | Nonfarm Payrolls | 323,000 | High |
Friday | 8:30 | Unemployment Rate – Level | 4.3% | High |
Friday | 8:30 | Average Hourly Earnings | 0.2 % | High |
Earning Calendar
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Symbol | Company | AM/PM | Day |
NBL | Noble Energy, Inc. | PM | Monday |
SBAC | SBA Communications Corporation | PM | Monday |
CMI | Cummins Inc. | AM | Tuesday |
INCY | Incyte Corporation | AM | Tuesday |
AMT | American Tower Corporation | AM | Tuesday |
AET | Aetna Inc. | AM | Tuesday |
K | Kellogg Company | AM | Tuesday |
SHOP | Shopify Inc. | AM | Tuesday |
MA | Mastercard Incorporated | AM | Tuesday |
PFE | Pfizer Inc. | AM | Tuesday |
APC | Anadarko Petroleum Corporation | PM | Tuesday |
EA | Electronic Arts Inc. | PM | Tuesday |
CHRW | C.H. Robinson Worldwide, Inc. | PM | Tuesday |
CHKP | Check Point Software Technologies Ltd. | PM | Tuesday |
FISV | Fiserv, Inc. | PM | Tuesday |
EL | The Estee Lauder Companies Inc. | AM | Wednesday |
CTSH | Cognizant Technology Solutions Corporation | AM | Wednesday |
KHC | The Kraft Heinz Company | PM | Wednesday |
OXY | Occidental Petroleum Corporation | PM | Wednesday |
WMB | The Williams Companies, Inc. | PM | Wednesday |
TSLA | Tesla, Inc. | PM | Wednesday |
CTRP | Ctrip.com International, Ltd. | PM | Wednesday |
FB | Facebook, Inc. | PM | Wednesday |
MET | MetLife, Inc. | PM | Wednesday |
SYMC | Symantec Corporation | PM | Wednesday |
QCOM | QUALCOMM Incorporated | PM | Wednesday |
ALL | The Allstate Corporation | PM | Wednesday |
LBTYA | Liberty Global plc | PM | Wednesday |
PRU | Prudential Financial, Inc. | PM | Wednesday |
CI | Cigna Corporation | AM | Thursday |
YUM | Yum! Brands, Inc. | AM | Thursday |
DLPH | Delphi Automotive PLC | AM | Thursday |
BABA | Alibaba Group Holding Limited | AM | Thursday |
TEVA | Teva Pharmaceutical Industries Limited | AM | Thursday |
ADP | Automatic Data Processing, Inc. | AM | Thursday |
APA | Apache Corporation | AM | Thursday |
CBS | CBS Corporation | PM | Thursday |
ATVI | Activision Blizzard, Inc. | PM | Thursday |
AIG | American International Group, Inc. | PM | Thursday |
AAPL | Apple Inc. | PM | Thursday |
SBUX | Starbucks Corporation | PM | Thursday |
CC | The Chemours Company | PM | Thursday |
ED | Consolidated Edison, Inc. | PM | Thursday |
MSI | Motorola Solutions, Inc. | PM | Thursday |
AEE | Ameren Corporation | AM | Friday |
Today’s Picks – Day Trading!
Symbol | Breakout | Breakdown | Momentum | Momentum |
SM | 19.58 | BYD | UCTT | |
DLTR | 93.68 | CLR | LVLT | |
TWZ | 98.68 | HES | MRK | |
EW | 101 | FSLR | CVS | |
ATVI |
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 | +4.90% |
Today’s Picks – Swing “New-York Strategy”
No.1 – SKX
Company Name | Skechers U.S.A. |
Entry Point | 33 |
Stop Area | 32.45 |
1st Target | 33.45 |
Swing Target | 34.87 |
Avg. Volume | 2.82M |
Sector | Consumer Goods | Textile – Apparel Footwear & Accessories |
Earning Date | – |
Risk Rate | Low |
Risk\Reward Ratio | 3.40:1 |
Risk Rates: Normal – Regular size, High –Consider reducing size, Low – Consider increasing size