Picks of the Day January 11, 2018.

Trade Tensions Send Chills Down Market’s Spine

The 3 large indexes on Wall Street ended lower yesterday, investors weighed down by concern that China would taper the clip of its U.S. T-bond purchases and that Pres. Trump would quit its main trade deal with China. The S&P 500 and the NASDAQ cut their 6-day winning streak. The S&P 500 succeeded in recovering to a certain extent over the trading day, only to again lose altitude again in the afternoon after Reuters reported that Canada is convinced that Trump will shortly announce that the U.S. is pulling out of NAFTA, its free trade agreement.

It’s going to be thin this week on the economic front. In a week like this, the political headlines are likely to have substantially more effect than usual. Yesterday’s declines reflect investors’ awareness that the market has climbed for 4 straight months without a single correction.

Daily Summary: The Dow Jones fell 0.07%. The S&P 500 shed 0.11% and the NASDAQ closed slightly off by 0.14%.

Investors opened 2018 with high growth expectations for U.S. firms. Tomorrow, banks will kick the opening kickoff for the Q4 2017 earnings season. S&P 500 firm earnings are expected to climb by 11.8% year-over-year. The biggest contribution is expected to come from the energy sector.

Airline stocks led the movement on Wall Street, the airline index rising 1.7%. The gains on the index came after 5 straight days of declines. United Continental (UAL) was the biggest contributor to the gains, soaring 6.72% after reporting a rise in traffic and a decline in the number of empty seats. The strong figures sent waves of optimism to competing airlines as well. Take AAL, which ended up 3.26% and DAL, which saw an uptick of 3.12%.

On the S&P 500, 74 stocks rose to new 52-week highs, 7 dipping to new yearly lows; on the NASDAQ, 98 stocks recorded new 52-week highs, 24 falling to new yearly lows.

About 6.93 billion shares changed hands on U.S. exchanges, above the 6.3 billion average over the last 20 trading days.

Thursday: Today’s trading will be affected by investors’ response to weekly unemployment claims at 8:30 N.Y. time as well as the Producer Price Index – which will be released at the same hour and which is expected to point to a rise of 0.2%. The airline company, Delta Airlines (DAL) is expected to release its financial reports before opening.

Index Last Daily change  
DJX25,369(0.07%)Down
SPX2,748(0.11%)Down
NASDAQ7,154(0.14%)Down

Thursday’s Hot Stocks: KBH ,PRGS ,DAL

Have a great trading day!

 

                                    Economic Calendar   
           

DAY

TIME (EST) EventForecast Impact
Tuesday6:00NFIB Small Business Optimism Index107.9Medium
Tuesday10:00JOLTS6.038 MMedium
Wednesday8:30Import and Export Prices0.4 %Medium
Wednesday10:00Wholesale Trade0.7 %Medium
Wednesday10:30Oil Inventories-7.4 M barrelsLow
Thursday8:30Jobless Claims 245 K Medium
Thursday8:30PPI-FD 0.2 % Medium
Friday8:30Consumer Price Index0.1 %Medium
Friday8:30Retail Sales0.5 %Medium
Friday10:00Business Inventories0.3 %Medium

 

 

Earning Calendar

  
           

Symbol

Company AM/PM Day
 HELE Helen of Troy LimitedAMMonday
 KB KB Financial Group Inc.AMMonday
 SIG Signet Jewelers LimitedAMWednesday
 LEN Lennar CorporationAMWednesday
 KBH KB HomePM Wednesday
 PRGS Progress Software CorporationPM Wednesday
 DAL Delta Air Lines, Inc.AM Thursday
 PNC The PNC Financial Services Group, Inc.AMFriday
 BLK BlackRock, Inc.AMFriday
 WFC Wells Fargo & CompanyAMFriday
 JPM JPMorgan Chase & Co.AMFriday
 INFY Infosys LimitedAMFriday

 

Today’s Picks – Day Trading!

SymbolBreakout BreakdownMomentum Momentum
BTU40.15 DISCA SVU
SRPT60 SBGI RES
W84.19 GBT EBAY
DLR 108.73SRPT AMBA
   KSS KSU
   UAL CP

 

 

New York Strategy Swing

#Date StockLong\ ShortStatuesData 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%
511.12.2017NKTRLongClose2.1.2017+4.57%
618.12.2017SYYLongClose19.12.2017+0.14%
73.1.2018VOYALongClose8.1.2017+0.67%
84.1.2018  TERLongClose10.1.2017+0.45%
99.1.2018SCGLongClose10.1.2017-3.35%

 

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

 No.1 – GPS 

Company NameThe Gap, Inc.
Entry Point32.18
Stop Area31.45
1st Target32.70
Swing Target35.24
Avg. Volume5.45M
SectorServices | Apparel Stores
Earning Date
Risk RateNormal
Risk\Reward Ratio4.19:1