Picks of the Day December 21, 2017.

Tax Bill Passes

The trading day closed down after the tax reform bill overcame its last hurdle and was passed. An announcement like this, at least in theory should have ignited positive momentum in the markets – when push came to shove, though, trading yesterday on Wall Street was rather sluggish. Wall Street analysts believe that the pacific trading day we got yesterday alongside such a significant development, was founded on the fact that the whole stock rally over the last few months was fueled by expectations for this very same announcement. If that is the case, the stock gains had already been priced into the stock bill making it through both chambers of Congress.

Trading volumes were again lower than the 20-day mean volume, but what did stand out over and above everything else yesterday was the energy sector (XLE) which led the S&P 500 with gains of 1.41% and the weekly oil inventories report which pointed to a higher than expected decline of over 6 million barrels. All-in-all, it was the fifth week in a row in which the figure reflected a decline in reserves.

Existing home sales for November dramatically surpassed forecasts with a rise of 5.6%, trouncing expectations of just 0.9%. The figure for November was the highest figure recorded in this metric in the last 20 months. The Economic Diary, today, features Q3 GDP numbers at 8:30 N.Y. time. Analysts expect a rise of 3.3% after GDP beat out the consensus in each of the last 4 quarters. GDP has been up at least 3% in each of the last 4 quarters.

About 6.1 billion shares traded hands on U.S. exchanges, beneath the 6.6 billion average over the last 20 trading days. On the S&P 500, 48 stocks recorded 52-week highs, 4 falling to new lows; on the NASDAQ, 114 stocks recorded new yearly highs, 44 falling to new yearly lows.

 

IndexLast

Daily change

DJX24,726(0.11%)Down
SPX2,679(0.08%)Down
Nasdaq6,960(0.04%)Down

Thursday’s Hot Stocks: BBBY, PCG, HZN, TNAV, PAYX, CAG, ACN, KMX

IPOs: LX

Have a great trading day!

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Monday10:00Housing Market Index70Medium
Tuesday8:30Housing Starts1.240 MMedium
Wednesday10:00Existing Home Sales5.520 MMedium
Wednesday10:30Oil InventoriesLow
Thursday8:30GDP3.3 %High
Thursday8:30Jobless Claims234 KMedium
Thursday9:00FHFA House Price Index0.4 %Medium
Thursday10:00Leading Indicators0.3%Medium
Friday8:30Durable Goods Orders2.0 %Medium
Friday8:30Personal Income and Outlays0.4 %Medium
Friday10:00New Home Sales650 KMedium
Friday10:00Consumer Sentiment97.0High
Friday8:30Empire State Mfg Survey-0.1Medium

 

 

 

 

Earning Calendar

 

SymbolCompanyAM/PMDay
KBKB Financial Group Inc.AMMonday
DRIDarden Restaurants, Inc.AMTuesday
NAVNavistar International CorporationAMTuesday
WORWorthington Industries, Inc.AMTuesday
CCLCarnival CorporationAMTuesday
MUMicron Technology, Inc.PMTuesday
FDXFedEx CorporationPMTuesday
RHTRed Hat, Inc.PMTuesday
GISGeneral Mills, Inc.AMWednesday
MLHRHerman Miller, Inc.PMWednesday
BBBYBed Bath & Beyond Inc.PMWednesday
PAYXPaychex, Inc.AMThursday
KMXCarMax Inc.AMThursday
CAGConagra Brands, Inc.AMThursday
ACNAccenture plcAMThursday
NKENIKE, Inc.PMThursday
CTASCintas CorporationPMThursday


 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
SPLK84.88 STLDPPL
CXO147.77 FANGHCN
OC91.40 CENXRHT
PCG 49.83AAPM
XL 34.98  

 

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

13.11.2017AKAMLongClose8.11.2017+1.37%
210.11.2017JUNOLongClose14.11.2017+1.26%
316.11.2017FLRLongClose25.11.2017+2.16%
46.12.2017SPLKLongClose8.12.2017+1.51%
511.12.2017NKTRLongOpen +2.98%
618.12.2017SYYLongClose19.12.2017+0.14%