Amazon Falls 4% after Closing

Index Last Daily change R2 R1 PP S1 S2
DJX (-0.03%) 19,885 Down          
SPX 0.06% 2,281 Up 228.84 228.31 227.56 227.03 226.28
Nasdaq (-0.11%) 5,636 Down 126.13 125.73 125.29 124.89 124.45

Stocks struggled again on Thursday, while political drama, violent protests in California and the earnings report of Amazon (AMZN), which was released yesterday after closing, captured most of investors’ attention.

Word came out towards the end of the trading day that the White House would stiffen sanctions on Iran in response to its ballistic missile attempt. President Trump noted that the nuclear deal would remain intact for the time being, while at the same time, clarifying that all options remained on the table.

In summary for the day, the S&P 500 succeeded in salvaging gains of 0.1%, the NASDAQ dropping 0.1% and the Russell 2000 falling 0.3%. Gold took off 0.9%, crude shedding 0.6%.

Last week, the Dow Jones slashed up through the 20,000 point level, though quickly retraced its steps. We now have an “island gap” pattern made up of a “breakout gap” that carried the index to a new high, followed by a quick reversal, with the index gapping downwards, leaving a deep chasm yet to be filled. This is a pattern thought of as negative seeing that it shows a duo of buyers’ and sellers’ conflicting and alternating emotions.

All-in-all, the technical picture remains unchanged. There’s no market leader, and the extreme levels on indexes that gauge market sentiment and the “island gap” pattern are daunting, with all of the above signaling that stocks are vulnerable if the market starts losing traction – something that perhaps should have happened a while ago. The last time the S&P 500 shed more than 1% in a day was in the month of October, 78 trading days ago. The breakup yesterday in both gold and the precious metal’s Exchange Traded Fund (ETF), the GDX, which tracks gold mines, is likely to be an indicator of future volatility.

The stock of U.S. Steel, X, soared 9.6% after being upgraded by analysts at Bank of America Merrill Lynch on the background of a positive forecast for steel prices. The stock of Macy’s (M) jumped 5.2% after a report in the N.Y. Post that the company is looking for a buyer. Costco (COST) climbed 3.9% in the wake of a surge of 5% in sales at its membership warehouse clubs.

Facebook (FB) fell 1.8%, despite the solid numbers it released on Wednesday, the market concerned about a future spike in capital costs. The fashion chain, Ralph Lauren (RL) plunged 12.33% – despite its good numbers – on the heels of the announcement that company CEO, Stefan Larsson, is stepping down because of disagreements with the company founder about the company’s direction.

After Closing: Amazon (AMZN) reported mixed results with earnings of $1.54 per share, above analysts’ forecast of EPS of $1.40. At the same time, the company’s revenues came to $43.7 billion, beneath analyst forecasts of $44.9 billion. The stock fell 4.15% in late trading on the heels of investors’ disappointment.

Also in late trading, the action camera company, GoPro (GPRO) reported an earnings surprise with EPS of 29 cents, above the forecasted 21 cents; revenues though disappointed, coming out at $540.6 million, falling short of expectations of $576 million after the company recalled its Karma drone. The airborne camera is now back on sale three months after the recall. GPRO tumbled 12% in late-trading.

On the S&P 500, 17 stocks rose to new 52-week highs, 5 dipping to new yearly lows; on the NASDAQ, 86 stocks recorded new 52-week highs, 24 falling to new yearly lows.

All-in-all, 7.03 billion shares changed hands on U.S. exchanges, above the 6.75 billion average over the last 20 trading days.

Friday: Wall Street is on the edge of its seat waiting for a strong January employment report today, one that comes out even stronger than the consensus. Analysts project 175 thousand new hires, with an unemployment rate that stays stable at 4.7%, coupled by a slight wage increase of 0.3%. At the same time, based on the big surprise in January’s ADP survey for private sector hires which pointed to 246 thousand new positions, we can expect today’s number to come out stronger than the consensus.

Besides the employment report which will be released before opening at 8:30 N.Y. time, the PMI service sector index will be released at 9:45, the ISM service sector index coming out at 10:00, together with factory order figures. President Trump is expected to be meeting with his advisory business council at 10:00 in the White House.

A number of companies will be reporting before opening: CLX, HSY, PSX, and WY.

Friday’s Hot Stocks: CLX, HSY, PSX, AMZN, GPRO, FEYE, DATA

IPOs: None

Have a great trading day!

 

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Monday 8:30 Personal Income 0.4% Medium
Monday 8:30 Personal Spending 0.4% Medium
Monday 10:00 Pending Home Sales 1.3% Medium
Tuesday 9:00 S&P Case Shiller Home Price Index 5.0% Medium
Tuesday 9:45 Chicago PMI 55.0 Medium
Tuesday 10:00 Consumer Confidence 112.5 High
Wednesday 8:15 ADP Employment Change 165K High
Wednesday 10:00 ISM Index 55.0 High
Wednesday 10:00 Construction Spending 0.2% Medium
Wednesday 10:30 Crude Inventories Low
Wednesday 14:00 FOMC Rate Decision 0.625% High
Wednesday 14:00 Auto Sales Low
Thursday 8:30 Initial Claims 250K High
Thursday 8:30 Unit Labor Costs 1.9% Medium
Friday 8:30 Nonfarm Payrolls 170K High
Friday 8:30 Unemployment Rate 4.7% High
Friday 10:00 Factory Orders 1.4% Medium
Friday 10:00 ISM Services 57.0 Medium


Earning Calendar

 

Symbol Company AM/PM Day
ZBH Zimmer Biomet Holdings, Inc. AM Tuesday
NUE Nucor Corporation AM Tuesday
PCAR PACCAR Inc AM Tuesday
VLO Valero Energy Corporation AM Tuesday
ABC AmerisourceBergen Corporation AM Tuesday
HOG Harley-Davidson, Inc. AM Tuesday
PNR Pentair plc AM Tuesday
NDAQ Nasdaq, Inc. AM Tuesday
TMO Thermo Fisher Scientific Inc. AM Tuesday
DHR Danaher Corporation AM Tuesday
AET Aetna Inc. AM Tuesday
MA Mastercard Incorporated AM Tuesday
LLY Eli Lilly and Company AM Tuesday
UPS United Parcel Service, Inc. AM Tuesday
PFE Pfizer Inc. AM Tuesday
XOM Exxon Mobil Corporation AM Tuesday
AAPL Apple Inc. PM Tuesday
CB Chubb Limited PM Tuesday
APC Anadarko Petroleum Corporation PM Tuesday
CHRW C.H. Robinson Worldwide, Inc. PM Tuesday
OKS ONEOK Partners, L.P. PM Tuesday
AFL Aflac Incorporated PM Tuesday
EA Electronic Arts Inc. PM Tuesday
ILMN Illumina, Inc. PM Tuesday
PPL PPL Corporation AM Wednesday
IR Ingersoll-Rand Plc AM Wednesday
BAX Baxter International Inc. AM Wednesday
MPC Marathon Petroleum Corporation AM Wednesday
MPLX MPLX LP AM Wednesday
JCI Johnson Controls International plc AM Wednesday
ADP Automatic Data Processing, Inc. AM Wednesday
MO Altria Group, Inc. AM Wednesday
FB Facebook, Inc. PM Wednesday
MET MetLife, Inc. PM Wednesday
LNC Lincoln National Corporation PM Wednesday
SYMC Symantec Corporation PM Wednesday
ALL The Allstate Corporation PM Wednesday
NXPI NXP Semiconductors N.V. PM Wednesday
EW Edwards Lifesciences Corporation PM Wednesday
IP International Paper Company AM Thursday
CI Cigna Corporation AM Thursday
BSX Boston Scientific Corporation AM Thursday
EL The Estee Lauder Companies Inc. AM Thursday
COP ConocoPhillips AM Thursday
CME CME Group Inc. AM Thursday
PM Philip Morris International Inc. AM Thursday
MRK Merck & Co., Inc. AM Thursday
AMZN Amazon.com, Inc. PM Thursday
V Visa Inc. PM Thursday
AMGN Amgen Inc. PM Thursday
MSI Motorola Solutions, Inc. PM Thursday
WY Weyerhaeuser Co. AM Friday
HSY The Hershey Company AM Friday
LYB LyondellBasell Industries N.V. AM Friday
CLX The Clorox Company AM Friday
PSX Phillips 66 AM Friday

 

3.2.2017

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
AVGO 205.79 CRM CRUS
KLAC 88 X RL
CC 27.29 IAC AMTD
PTC 54.13 LNG  
CSC 63.34 VRX  
CTSH 51.50 PULM  
KORS 40.81 IDXX  
TPX 42.50 CALA  
  CDNS  

  

New York Strategy Swing

# Date Stock Long\

Short

Statues Data Close Profit\

Loss

1 29.12.2016 JWN Short Close 6.1.2017 +3.45%
2 6.1.2017 TRGP Long Close 9.1.2017 +0.20%
3 9.1.2017 NVDA Long Close 17.1.2017 +1.02%
4 10.1.2017 TLRD Long Close 10.1.2017 -3.27%
5 13.1.2017 LW Long Close 26.1.2017 +0.09%
6 31.1.2017 ATI Long Open   +1.25%
7 1.2.2017 AKAO Long Open   +3.83%
8 2.2.2017 DATA Long Open   -1.21%
9
10
11
12
13
14            
15  
16  


Today’s Picks – Swing “New-York Strategy

No.1 – SY

Company Name Synchrony Financial
Entry Point 35.17
Stop Area 35.85
1st Target 34.70
Swing Target 32.43
Avg. Volume 6.7M
Sector Financial | Credit Services
Earning Date
Risk Rate Normal
Risk\Reward Ratio 4.03:1