Meet the Press!

S2 S1 PP R1 R2 Daily change Last Index
          (-0.16%) 19,856 DJX
225.20 225.83 226.64 227.27 228.08 0.00% 2,269 SPX
121.69 122.14 122.56 123.01 123.43 0.36% 5,552 Nasdaq

The S&P 500 ended unchanged on Tuesday, as a decline in crude prices hurt energy stocks, offsetting the gains in the health and financial sectors. The NASDAQ recorded another new historic high. With that said, the most talked about psychological level on capital market nowadays is the 20,000 point level on the Dow Jones, which is still just out of arm’s reach. Yesterday, IBM, MRK, XOM, and PG led the index to lose traction and slip.

Traders are all tense in advance of the earnings season which kicks off this week – along with the swearing in of the 45th president of the U.S. on January 20th, after which traders will have a clearer picture of the extent to which Trump will be able to fulfill his campaign promises in relation to fiscal stimulus, tax cuts and loosened regulation.

The Dow Jones ended off 0.16% at the 19,856 point level, the S&P 500 closing the day unchanged and the NASDAQ tacking on 0.36%. The energy sector (XLE) recorded the sharpest losses on the day, dropping 0.95% as crude tumbled 2% on the background of doubts about the implementation of the OPEC cuts approved.

With the S&P 500 having surged 9% since November 4th, investors are keeping their eyes peeled on the earnings season in order to try to assess the lasting power of the high levels on the major Wall Street indexes.

S&P 500 companies are expected to record their strongest quarterly earnings growth in 3 years, firm earnings expected to grow by 5.8% in Q4 2016, financial firms being the chief growth engine. The financial sector (XLF) – which has traded up 17.4% since the elections, closed up yesterday by 0.4%. Bank of America (BAC), Wells Fargo (WFC), and J.P. Morgan (JPM) are set to report this coming Friday, the trio serving as the banking sector’s biggest catalyst on Tuesday with gains of 1.7%, 0.7% and 0.3% respectively.

The biotech stock, ILMN, soared 16.6% to the $165.04 level after the diagnostics company released a strong earnings forecast for the current quarter, while also launching a new genetic sequencing product.

On the S&P 500, 11 stocks rose to new 52-week highs, without a single stock slipping to new yearly lows; on the NASDAQ, 93 stocks recorded new 52-week highs, 18 falling to new yearly lows.

About 6.7 billion shares changed hands on U.S. exchanges, on par with the 6.6 billion average over the last 20 trading days.

Wednesday: President-elect Trump will meet the press today, though investors are not expecting to get the details they’re looking for in regards to the prospective corporate tax cut or fiscal spending plan.  The more likely topics to be addressed will probably be what’s been headline news over the last few days: Russia and Trump’s seemingly unending conflicts of interest. Number one will be Trump’s conflicts of interests involving his own business ventures, his own personal agenda being on the radar screen, then number two – Russia. Number three will be the health plan that he hopes will supplant Obamacare.

Trump is likely to create market volatility the moment his first post-election press party convenes at 11:00 N.Y. time. Until now, the market has priced in a lot of optimism driven by the president-elect’s policy platform, and what he hopes to achieve. Trump is not yet president, and there’s much risk interlaced with his plans to make true on his campaign promises.

Trump, in brief, is the wild card. Anything that he says today is likely to produce volatility. Our stance is that the bottom line is that Trump, regardless of his desires, is on track to create heightened market volatility and risk, seeing that it’s impossible to know what he’ll say or the effect he’ll have on all of the moving parts in the market. As of now, the market’s chosen to take a positive spin on things.

As far as market events go, traders will be eyeing the release of weekly crude inventory figures at 10:30 N.Y. time, especially after crude continued falling yesterday, ending at a monthly low at $50.82 a barrel.

Wednesday’s Hot Stocks: UAL, PE, VECO

IPOs: None

Have a great trading day!

 

Economic Calendar
DAY TIME (EST) Event Forecast Impact
Tuesday 10:00 JOLTS – Job Openings Medium
Tuesday 10:00 Wholesale Inventories 0.9% Medium
Wednesday 10:30 Crude Inventories Low
Thursday 8:30 Export Prices ex-ag. Medium
Thursday 8:30 Import Prices ex-oil Medium
Thursday 8:30 Initial Claims 255K High
Friday 8:30 PPI 56.6 High
Friday 8:30 Retail Sales 0.7% Medium
Friday 10:00 Business Inventories 0.6% Medium
Friday 10:00 Mich Sentiment 98.5 High

 

 

Earnings Calendar
Symbol Company AM/PM Day
CMC Commercial Metals Company AM Monday
GPN Global Payments Inc. AM Monday
LW Lamb Weston Holdings, Inc. AM Tuesday
AA Alcoa Corporation AM Tuesday
TSM Taiwan Semiconductor Manufacturing Company Limited AM Thursday
DAL Delta Air Lines, Inc. AM Thursday
PNC The PNC Financial Services Group, Inc. AM Friday
BLK BlackRock, Inc. AM Friday
BAC Bank of America Corporation AM Friday
WFC Wells Fargo & Company AM Friday
JPM JPMorgan Chase & Co. AM Friday
INFY Infosys Limited AM Friday

AM – Before Market Open

PM – After Market Close

 

11.1.2017

Today’s Picks – Day Trading

Symbol Breakout Breakdown Momentum Momentum
AKAO 16.20   ETRM IBM
PCAR 66.39   YY ACIA
NCLH 45.5   UAL NBIX
      AA HCN
      SRPT  
      BABA  
      KORS  
      TMUS  
      BKD  
      YPF  
      W  
      CUR  

 

New York Strategy Swing

 

# Date Stock Long\

Short

Statues Date Close Profit \ Loss # Date Stock Long \Short Statues Date Close Profit \ Loss
1 5.12.2016 CSC Long Close 6.12.2016 -1.62% 17            
2 6.12.2016 YY Short Close 7.12.2016 +0.72% 18            
3 7.12.2016 ROST Long Close 14.12.2016 +0.42% 19            
4 9.12.016 TWLO Short Close 13.12.2016 +2.01% 20            
5 12.12.2016 PDCO Long Close 14.12.2016 +0.48% 21            
6 13.12.2016 TLRD Long Open 22.12.2016 +1.87% 22            
7 13.12.2016 IGT Short Close 14.12.2016 -0.19% 23            
8 14.12.2016 CC Long Close 21.12.2016 +0.52% 24            
9 29.12.2016 JWN Short Close 6.1.2017 +3.45% 25            
10 6.1.2017 TRGP Long Close 9.1.2017 +0.20% 26            
11 9.1.2017 NVDA Long Open   +2.31% 27            
12 10.1.2017 TLRD Long Close 10.1.2017 -3.27% 28            
13             29            
14             30            
15             31            
16             32            

 

 

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

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

 

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

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