An upheaval! Despite the flurry of negative news that came in volleys this past week, from Hurricane Harvey which hit the southern U.S. coast, Friday’s disappointing employment figures and the launch of ballistic missiles by  North Korea’s maniacal leader above the skies of Japan, indexes on Wall Street succeeded in recording a streak of 4 straight winning days, its first since mid-July. Trading volumes tapered on Friday in advance of investors’ long holiday weekend, with trading closed on Monday for Labor Day, investors returning to their trading desks only on Tuesday.

This coming week, the seasonality is going to sour on investors, and it will be interesting to see how the new catalysts are affecting the market. In contrast to the “Old World,” news isn’t impacting the market like it had in the past. The world has changed, the simple and most logical calculus now defunct. It’s no longer: “Bad News = Sell; Good News = Buy.” The trading world is now being controlled by sophisticated algorithms which look for news as triggers for activating preprogrammed computerized functions. Computer, over the last few years, have been programmed to buy stock, no matter what happens! That being the case, news only serve as a trigger, but the tendency programmed into computers to buy rather than sell, is precisely that which causes news which logically would be a negative trigger for traders to do the opposite, i.e. push stocks higher. News serves as a trigger, but the practical ins and outs of the news are entirely meaningless. All news has been good news, until now that is.

Despite the fact that for most of August the major stock indexes traded in negative territory, last week saved most indexes. Except for the Russell 2000 which fell on the month, the 3 large indexes, the Dow Jones, the S&P 500 and the NASDAQ all ended the month lightly up.

The S&P 500 will begin the coming week trading close to its latest highs. We wouldn’t be surprised to see another breakup attempt that doesn’t succeed in holding water.

Index Last Daily change
DJX 21,988 +0.18% Up
SPX 2,477 +0.20% Up
Nasdaq 6,435 +0.10% Up

 

Weekly Summary: The S&P 500 rose 1.34%. The Dow Jones ended the week up 0.86%, with the NASDAQ jumping 2.84%.

Have a great trading week!

 

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Tuesday 10:00 Factory Orders -3.1% Medium
Wednesday 8:30 International Trade $-44.6 B Medium
Wednesday 9:45 PMI Services Index 54.6 to 56.9 Medium
Wednesday 10:00 ISM Non-Mfg Index 55.4 Medium
Wednesday 14:00 Beige Book High
Thursday 8:30 Jobless Claims 239 K Medium
Thursday 11:00 Oil Inventories Low
Friday 10:00 Wholesale Trade 0.4 % Medium

 

Earning Calendar

 

Symbol Company AM/PM Day
HPE Hewlett Packard Enterprise Company PM Tuesday
PLAY Dave & Buster’s Entertainment, Inc. PM Tuesday
CASY Casey’s General Stores, Inc. PM Tuesday
NAV Navistar International Corporation AM Wednesday
VRNT Verint Systems Inc. PM Wednesday
DCI Donaldson Company, Inc. AM Thursday
DVMT Dell Technologies Inc. AM Thursday
SAIC Science Applications International Corporation PM Thursday
FNSR Finisar Corporation PM Thursday
PAY VeriFone Systems, Inc. PM Thursday
KR The Kroger Co. AM Friday

  

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
MU $33.00 SGMO LLY
EXAS $42.18 YNDX AMBA
FNSR $23.00    
   
   
     
     
 
     

 

 New York Strategy Swing

# Date Stock Long\

Short

Statues Data Close Profit\

Loss

1 2.8.2017 AKAM Short Close 3.8.2017 -1.12%
2 3.8.2017 NKE Long Close 8.8.2017 +0.02%
3 4.8.2017 SBUX Short Close 16.8.2017 +2.40%
4 8.8.2017 NTAP Long Close 9.8.2017 -1.17%
5 22.8.2017 ATHM Long Close 23.8.2017 +0.16%
6 23.8.2017 AAP Short Close 26.8.2017 +0.98%
7 28.8.2017 CREE Short Close 30.8.2017 -0.86%
8 30.8.2017 TRIP Long Open   +1.63%
9 1.9.2017 VNTV Long Open -0.11%
10
11  
12
13  
14
15
16  
17
18            

 

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

No.1 –

Company Name
Entry Point  
Stop Area
1st Target  
Swing Target
Avg. Volume  
Sector  
Earning Date  
Risk Rate
Risk\Reward Ratio       

 

No.2 –

Company Name
Entry Point  
Stop Area
1st Target  
Swing Target
Avg. Volume  
Sector
Earning Date  
Risk Rate
Risk\Reward Ratio

 

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