Fourth Straight Day of Gains!

Stocks on Wall Street recorded gains yesterday, stretching their winning streak to 4 after the White House released its 2018 budget proposal. Despite the weak economic figures released on Tuesday, investors breathed a sigh of relief that Trump’s first budgetary proposal was surprise-free, and in keeping with expectations.

Trump’s budget calls for increased infrastructure and defense spending, alongside cuts in sensitive outlays, like healthcare and food stamp programs, in an attempt to cut the federal budget by $3.6 trillion and stabilize it over the next decade.

The S&P 500 ended beneath the daily low. Over the course of the day, on a number of occasions, the S&P 500 succeeded in grazing the 2,400 point level for the first time since the market toppled last Wednesday on the background of concerns about Trump’s continued tenure in office.

In Summary for the Day: The Dow Jones rose 0.2%, the S&P 500 ending up 0.18%. The NASDAQ tacked on 0.08%. Crude rose 0.7% to the $51.47 barrel level, ending at a monthly high in the wake of expectations that OPEC will extend its production cut into next year. Gold shed 0.5%.

In yesterday’s economic figures, April’s new home sales plunged from a nine-and-a-half month high, as manufacturing activity in May – as measured by the PMI index – fell to its lowest level since September.

One of the stocks commanding attention yesterday was the videogame company, TTWO, which jumped 5.5% on the background of solid earnings reports – and the success of its online game, GTA. JBLU soared 2.4% after raising its revenue forecast.

On the negative side, auto-part companies demonstrated marked weakness on the background of an 11.8% drop in the stock of AZO after it missed its earnings forecast. AAP fell 4.6%, ORLY falling 3.3%. GPC fell 2%.

XLNX fell 5.26% after Wells Fargo lowered its forecast for the chipmaker. ALXN toppled 9.3% after a management change in the biotech company.

On the S&P 500, 45 stocks rose to new 52-week highs, 3 dipping to new yearly lows; on the NASDAQ, 102 stocks recorded new 52-week highs, 60 falling to new yearly lows.

About 5.9 billion shares changed hands on U.S. exchanges, beneath the 6.9 billion average over the last 20 trading days.

Wednesday: All eyes today are turned to the release of the minutes from the Fed’s latest meeting in order to glean hints as to the rate hike pace and the timing thereof between now and the end of the year. The Fed has hiked rates 0.75% since the beginning of the monetary tightening cycle in December 2015.

Of late, we’ve seen heightened expectations for a faster rate hike clip, investor confidence growing alongside stock prices since the elections. As of now, future rate contracts reflect chances of 78.5% for another hike of a quarter of a percentage point on June 14th, in contrast with the respective chances of 50.7% a month ago. At the same time, the chances being given for another rate hike after June are 50-50. The central bank’s minutes will be released today at 14:00 N.Y. time.

On today’s Economic Diary, be primed as well for additional numbers from the real estate sector at 9:00 and then, at 10:00.

Today’s main earnings reports will include LOW, TIF, and AAP, before trading opens, the following companies reporting after closing: WSM, PVH, PSTG, HPQ.

Index Last Daily change
DJX 20,938 0.21% Up
SPX 2,398 0.18% Up
Nasdaq 6,139 0.08% Up

Wednesday’s Hot Stocks: LOW, TIF, INTU

IPOs: None

Have a great trading day!



Economic Calendar


DAY TIME (EST) Event Forecast Impact
Tuesday 10:00 New Home Sales Medium
Wednesday 9:00 FHFA Housing Price Index Medium
Wednesday 10:00 Existing Home Sales Medium
Wednesday 10:30 Crude Oil Inventories Low
Thursday 8:30 Initial Claims High
Friday 8:30 Durable Orders Medium
Friday 8:30 GDP – Second Estimate Medium
Friday 10:00 Michigan Sentiment – Final High



Earning Calendar


Symbol Company AM/PM Day
AKRX Akorn, Inc. AM Monday
A Agilent Technologies, Inc. PM Monday
TTWO Take-Two Interactive Software, Inc. AM Tuesday
TOL Toll Brothers, Inc. AM Tuesday
MOMO Momo Inc. AM Tuesday
INTU Intuit Inc. PM Tuesday
TIF Tiffany & Co. AM Wednesday
AAP Advance Auto Parts, Inc. AM Wednesday
DY Dycom Industries, Inc. AM Wednesday
EV Eaton Vance Corp. AM Wednesday
LOW Lowe’s Companies, Inc. AM Wednesday
HPQ HP Inc. PM Wednesday
CPRT Copart, Inc. PM Wednesday
PVH PVH Corp. PM Wednesday
NTAP NetApp, Inc. PM Wednesday
WSM Williams-Sonoma, Inc. PM Wednesday
SIG Signet Jewelers Limited AM Thursday
DLTR Dollar Tree, Inc. AM Thursday
MDT Medtronic plc AM Thursday
BBY Best Buy Co., Inc. AM Thursday
MRVL Marvell Technology Group Ltd. PM Thursday
ULTA Ulta Beauty, Inc. PM Thursday
SPLK Splunk Inc. PM Thursday
COST Costco Wholesale Corporation PM Thursday
GME GameStop Corp. PM Thursday
BRCD Brocade Communications Systems, Inc. PM Thursday
VEEV Veeva Systems Inc. PM Thursday
NTNX Nutanix, Inc. PM Thursday
BIG Big Lots, Inc. AM Friday





Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
AMC 24.30   TRIP
TRIP 40.45   TSCO


New York Strategy Swing

# Date Stock Long\


Statues Data Close Profit\


1 3.4.2017 ARNC Long Close 31.3.2017 -2.52%
2 3.4.2017 GME Short Close 10.4.2017 +1.95%
3 5.4.2017 IPXL Long Close 11.4.2017 +7.03%
4 13.4.2017 NKTR Long Close 21.4.2017 +0.61%
5 25.4.2017 LULU Short Close 2.5.2017 -0.17%
6 26.4.2017 GNC Long Close 28.4.2017 -4.39%
7 28.4.2017 CARA Long Close 1.5.2017 -3.23%
8 1.5.2017 AAOI Long Close 2.5.2017 +0.54%
9 3.5.2017 SCSS Long Close 9.5.2017 -1.71%
10 4.5.2017 CRZO Short Close 5.5.2017 +0.30%
11 8.5.2017 WTW Long Close 16.5.2017 +6.09%
12 15.5.2017 AAN Long Close 16.5.2017 -1.70%
13 16.5.2017 CCL Long Close 17.5.2017 -0.41%
14 17.5.2017 AMAG Short Open   +5.97%
15 17.5.2017 AAN Long Open   -2.30%
16 19.5.2017 TRCO Long Close 23.5.2017 -1.45%
17 19.5.2017 GIMO Long Close 23.5.2017 +0.76%


Today’s Picks – Swing “New-York Strategy

 No.1 –  TRCO

Company Name Tribune Media Company
Entry Point 39.85
Stop Area 39.14
1st Target 40.40
Swing Target 43.04
Avg. Volume 2.5M
Sector Services | Broadcasting – TV
Earning Date
Risk Rate Normal
Risk\Reward Ratio 4.49:1


No.2 – DVA

Company Name DaVita
Entry Point 64.45
Stop Area 65.05
1st Target 63.90
Swing Target 61.48
Avg. Volume 1.27M
Sector Healthcare | Specialized Health Services
Earning Date
Risk Rate Normal
Risk\Reward Ratio 4.95:1