Wall Street’s Longest Winning Streak Since 2013!

The engines on Wall Street continued working yesterday and pushed indexes into new and uncharted territory on Wednesday, the S&P 500 wrapping up a 7-day winning streak supported by another round of robust economic figures and continued optimism that President Trump will cut taxes. A sharper than expected rise in retail chain sales and in the Consumer Confidence Index bolstered assurances that the economy is expanding at a solid pace on the heels of the strongest quarter of earnings growth that America has seen in the last two years.

In his meeting with top retail CEOs, Trump said yesterday that he would lower taxes significantly, reinforcing the campaign promise reiterated last week. Optimism that lower taxes, streamlined regulation and increased infrastructure spending targeting economic stimulus are the 3 catalysts that have pushed indexes to a series of new highs. The S&P 500 has now recorded its longest winning streak since September 2013 – and that’s despite the fact that some investors are concerned that Trump still hasn’t provided enough detail about his tax cut initiative.

Fed Reserve Chairwoman, Janet Yellen, in the second day of her congressional testimony, continued on the same tack taken on Tuesday, i.e. clearly stating that the central bank is on track to hike rates in one of its coming policy meetings. A year ago, if Janet Yellen had made a declaration the like of yesterday’s, the market would have gone haywire seeing that fundamentals back then had been rather weak. At this stage of the game, a rate hike wouldn’t give investors a shakeup seeing that they have ample confidence in fundamentals.

In summary for the day, the Dow Jones rose 0.52%, the S&P 500 tacking on 0.50%, and the NASDAQ, 0.64%.

The Q4 earnings reports of S&P 500 companies recorded growth of 7.2%, notching off the strongest expansion since Q3 2014. Analysts now expect S&P 500 earnings to grow 10.7% in Q1 2017.

One of the stocks that stood out in yesterday’s trading was Procter & Gamble (PG) which soared 3.71% to a two year high, giving both the Dow Jones and the S&P 500 their biggest push, after the Trian Fund disclosed significant holdings in the company, a fact that could pressure it to cut costs and slash low growth units.

The pharmaceutical company, Teva (TEVA) soared 5.6%, putting together gains, on aggregate, of over 14% over the last few trading days, after the stock had collapsed over 50% last year and hitting valuations that invariably beckoned value investors.

The airline companies, UAL, AAL, and DAL, each soared between 2%-4% after Warren Buffett announced that Berkshire’s holdings in each had reached $2.1 billion.

On the S&P 500, 80 stocks rose to new 52-week highs, 2 dipping to new yearly lows; on the NASDAQ, 156 stocks recorded new 52-week highs, 27 falling to new yearly lows.

About 7 billion shares changed hands on U.S. exchanges, above the 6.8 billion average over the last 20 trading days.

Thursday: Traders will continue following economic figures in order to see whether they continue to paint a positive picture of the economy and whether they’re in line with the Fed’s intents to hike rates by mid-year if not sooner. Yellen was very clear in her 2-day testimony that economic figures matter – and that monetary policy needs to move in lockstep with the stronger economy taking root.

Today’s economic figures will include initial unemployment claims, housing starts and the Philadelphia Fed Manufacturing Sector, all at 8:30 N.Y. time. Likewise, a number of companies will be reporting their latest financial figures, including DF and GNC before opening. After closing, be primed for the financial reports of TRUE and WBMD.

Index Last Daily change R2 R1 PP S1 S2
DJX 20,612 0.52% Up          
SPX 2,349 0.50% Up 236.23 235.58 234.48 233.83 232.73
Nasdaq 5,819 0.64% Up 129.98 129.64 129.00 128.66 128.02

Thursday’s Hot Stocks: TRIP, MOH, CSCO, KHC, DF, NTAP, MGM

IPOs: None

Have a great trading day!

 

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Tuesday 8:30 PPI 0.3% High
Wednesday 8:30 CPI 0.3% High
Wednesday 8:30 Empire Manufacturing 7.0 Medium
Wednesday 8:30 Retail Sales 0.1% High
Wednesday 9:15 Industrial Production 0.0% Medium
Wednesday 10:00 Business Inventories 0.4% Medium
Wednesday 10:00 NAHB Housing Market Index 68 Medium
Wednesday 10:30 Crude Inventories Low
Thursday 8:30 Housing Starts 1220K Medium
Thursday 8:30 Initial Claims 245K High
Thursday 8:30 Philadelphia Fed 17.5 Medium
Friday 10:00 Leading Indicators 0.5% Medium

 

Earning Calendar

 

Symbol Company AM/PM Day
HCP HCP, Inc. AM Monday
RYAAY Ryanair Holdings plc AM Monday
TEVA Teva Pharmaceutical Industries Limited AM Monday
VNO Vornado Realty Trust PM Monday
NBL Noble Energy, Inc. PM Monday
DISCA Discovery Communications, Inc. AM Tuesday
DPS Dr Pepper Snapple Group, Inc. AM Tuesday
Q Quintiles IMS Holdings, Inc. AM Tuesday
TMUS T-Mobile US, Inc. AM Tuesday
TAP Molson Coors Brewing Company AM Tuesday
INCY Incyte Corporation AM Tuesday
DVN Devon Energy Corporation PM Tuesday
ESRX Express Scripts Holding Company PM Tuesday
A Agilent Technologies, Inc. PM Tuesday
AIG American International Group, Inc. PM Tuesday
PEP Pepsico, Inc. AM Wednesday
ADI Analog Devices, Inc. AM Wednesday
WMB The Williams Companies, Inc. PM Wednesday
LBTYK Liberty Global plc PM Wednesday
LBTYA Liberty Global plc AM Wednesday
AMAT Applied Materials, Inc. PM Wednesday
CBS CBS Corporation PM Wednesday
MAR Marriott International, Inc. PM Wednesday
NTES NetEase, Inc. PM Wednesday
MRO Marathon Oil Corporation PM Wednesday
NTAP NetApp, Inc. PM Wednesday
CSCO Cisco Systems, Inc. PM Wednesday
KHC The Kraft Heinz Company PM Wednesday
MGM MGM Resorts International AM Thursday
AEE Ameren Corporation AM Thursday
WM Waste Management, Inc. AM Thursday
ALXN Alexion Pharmaceuticals, Inc. AM Thursday
ED Consolidated Edison, Inc. PM Thursday
DVA DaVita Inc. PM Thursday
DLR Digital Realty Trust, Inc. PM Thursday
CPB Campbell Soup Company AM Friday
SJM The J. M. Smucker Company AM Friday
MCO Moody’s Corporation AM Friday
DE Deere & Company AM Friday

 

 

 

 


 

16.2.2017

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
BA 170   FLIR DNOW
VIAB 45   MYL DKS
ADSK 85.11   TEVA AIG
FISV 111.50   BG  
CAT 99.5   YY  
DHR 84.74   CAR  
NOV 40.75   VRX  
KMX 68.86   WYN  
DKS   49.33    


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 Close 7.2.2017 +0.09%
7 1.2.2017 AKAO Long Open   +11.93%
8 2.2.2017 DATA Long Close 6.2.2017 +13.09%
9 7.2.2017 GNC Short Close 9.2.2017 +3.26%
10 9.2.2017 PG Long Close 13.2.2017 -0.63%
11 9.2.2017 ATI Long Close 14.2.2017 +2.42%
12 13.2.2017 STX Long Open   +1.98%
13 14.2.2017 CXW Long Open   +1.75%
14 15.2.2017 ZEN Long Open   +1.23%
15            
16