A French Kiss

Stocks on Wall Street took off on Monday after a rally swept all of Asia and Europe after the centrist candidate, Emmanuel Macron, won the first voting round of the French presidential elections. Every poll projects that Macron, a European Union devotee, will win in the next round, becoming the next president of France come May 7th.

The relief rally sprung to life, players letting down their guard after the far-right candidate, Le Pen, an advocate of isolationism, nationalism and breaking ranks from the EU, fell flat, political analysts now giving her very little chance of victory in two weeks’ time. Yesterday’s movement revealed that large market players had taken more defensive positions in advance of the French elections and are now coming off the sidelines and returning to the market.

In Summary for the Day: The S&P 500 soared 1.08%, the NASDAQ rising 1.24%.

Investors on Wall Street are ready to move into full gear, this week, the busiest of the earnings season with more than 190 S&P 500 firms expected to report before the closing bell on Friday, Google (GOOGL) and Microsoft (MSFT) among them.

Until now, the earnings season has come out better than preliminary forecasts. We have not seen analysts’ back down with their expectations over the last few weeks, which means that not only is the bar high but companies have managed to scale it!

Out of the 100 companies on the S&P 500 which have already reported, 77% have hit their earnings forecasts, which has helped up expectations for earnings growth to 11% from 10% earlier in the earnings season.

On the S&P 500, 72 stocks rose to new 52-week highs, 2 dipping to new yearly lows; on the NASDAQ, 191 stocks recorded new 52-week highs, 43 falling to new yearly lows.

About 6.8 billion shares changed hands on U.S. exchanges, above the 6.3 billion average over the last 20 trading days.

Tuesday: Almost immediately after the resolution of the French election uncertainty, the market’s focus was on the prospects of Washington shutting down at the end of the week. Funding to keep the federal government pulsing runs out on Friday at midnight, unless Congress agrees to a temporary financing patch. The last time the government had shut down for this reason was during the period spanning October 1st – October 16th 2013. During that period, the S&P 500 rose 1.6%, though not without its fair share of volatility, the index seeing intraday movement of over 1% on 3 separate occasions.

Be primed and ready today for earnings reports from these key companies before opening: MMM, CAT, MCD, LLY, DD, T, LMT and VLO. After closing, keep your eyes peeled for ARNC, X, and COF.

The macroeconomic calendar will be packed today, and will include the Case-Shiller and FHFA house price indexes at 9:00 N.Y. time, new home sale numbers coming out at 10:00, the Consumer Confidence index likewise expected for 10:00.

IndexLastDaily changeR2R1PPS1S2
DJX20,7641.05%Up     
SPX2,3741.08%Up236.91236.18235.30234.57233.69
Nasdaq5,9841.24%Up132.73132.39132.04131.70131.35

Tuesday’s Hot Stocks: CAT, GGP, RRC, CVS, JWN, ESRX, ZION, DD, VLO

IPOs: None

Have a great trading day!

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Tuesday9:00Case-Shiller Home Price IndexMedium
Tuesday9:00FHFA Housing Price IndexMedium
Tuesday10:00New Home SalesMedium
Tuesday10:00Consumer ConfidenceMedium
Wednesday10:30Crude InventoriesLow
Thursday8:30Initial ClaimsHigh
Thursday8:30Durable OrdersMedium
Thursday8:30Initial ClaimsHigh
Thursday10:00Pending Home SalesMedium
Friday8:30GDP-Adv.Medium
Friday9:45Chicago PMIMedium
Friday10:00Michigan Sentiment – FinalHigh


Earning Calendar

 

SymbolCompanyAM/PMDay
CATCaterpillar Inc.AMTuesday
DDE. I. du Pont de Nemours and CompanyAMTuesday
KOThe Coca-Cola CompanyAMTuesday
LLYEli Lilly and CompanyAMTuesday
MCDMcDonald’s CorporationAMTuesday
MMM3M CompanyAMTuesday
VLOValero Energy CorporationAMTuesday
XUnited States Steel CorporationPMTuesday
JNPRJuniper Networks, Inc.PMTuesday
COFCapital One Financial CorporationPMTuesday
ARNCArconic Inc.PMTuesday
BAThe Boeing CompanyAMWednesday
HSYThe Hershey CompanyAMWednesday
PEPPepsico, Inc.AMWednesday
FFIVF5 Networks, Inc.PMWednesday
AMGNAmgen Inc.PMWednesday
CELGCelgene CorporationAMThursday
JCIJohnson Controls International plcAMThursday
AALAmerican Airlines Group Inc.AMThursday
UPSUnited Parcel Service, Inc.AMThursday
SBUXStarbucks CorporationPMThursday
MSFTMicrosoft CorporationPMThursday
GOOGLGoogle Class APMThursday
GPROGOPRO, INC.PMThursday
AMZNAmazon.com, Inc.PMThursday
CLColgate-Palmolive CompanyAMFriday
CVXChevron CorporationAMFriday
PSXPhillips 66AMFriday
XOMExxon Mobil CorporationAMFriday

 

 

 

 


 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
AN44.20AAOISHLD
A54.82BMRNW
STX49.79FUELO
APH72 VTR
IBM159.60  

  

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

16.3.2017LBTYKLongClose14.3.2017+2.47%
28.3.2017FTNTLongClose9.3.2017+0.37%
313.3.2017ARNCLongClose21.3.2017+1.92%
414.3.2017MOMOLongClose20.3.2017+5.50%
515.3.2017PTLALongClose17.3.2017+0.65%
617.3.2017NTNXLongClose21.3.2017-4.23%
722.3.2017FNSRShortClose25.3.2017-2.78%
827.3.2017AKAOLongClose31.3.2017+11.31%
930.3.2017AFSIShortClose3.4.2017-6.63%
103.4.2017ARNCLongClose31.3.2017-2.52%
113.4.2017GMEShortClose10.4.2017+1.95%
125.4.2017IPXLLongClose11.4.2017+7.03%
1313.4.2017NKTRLongClose21.4.2017+0.61%
14
15
16
17
18

 


 

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

Company NameGNC Holdings,
Entry Point8.19
Stop Area7.75
1st Target8.60
Swing Target9.57
Avg. Volume4.48M
SectorServices | Drug Stores
Earning Date
Risk RateLow
Risk\Reward Ratio3.14:1

 

No.1 –    GNC

Company NameGNC Holdings,
Entry Point8.19
Stop Area7.75
1st Target8.60
Swing Target9.57
Avg. Volume4.48M
SectorServices | Drug Stores
Earning Date
Risk RateLow
Risk\Reward Ratio3.14:1

 

No.2 – LULU

Company NameLululemon Athletica
Entry Point52.42
Stop Area54.05
1st Target51.55
Swing Target49.40
Avg. Volume3.17M
SectorConsumer Goods | Textile – Apparel Clothing
Earning Date
Risk RateNormal
Risk\Reward Ratio1.85:1