March 15, 2018.

Stocks on Wall Street recorded declines yesterday after President Trump sought to impose new tariffs on China, thereby increasing concern about a trade war that could hike costs and hurt the sales of American exporters. The Trump administration is pressuring China to cut its trade surplus with the U.S. by $100 billion. Trump is seeking to impose a tax of $60 billion on imports from China, the focus being the tech, communication and apparel sectors.

The earnings season just ended, the latest developments in Washington now being much weightier for investors. From an economic standpoint, the possible effects of import taxes continue to shake up the market.

Trump already set down the groundwork for steel and aluminum tariffs, along with import taxes on solar panels and washing machines, inciting threats about a backlash from another of U.S. trade partners. Boeing (BA), a company investors see as especially vulnerable as far as retribution goes, fell by 2.5%, leading the losers yesterday on the Dow.

Did the Dow Jones fall 1% yesterday because of the concerns about America’s trade deals with China? Or was it because of the impressive Democratic showing in Pennsylvania?

These two matters are likely to have an impact, but our market is conducting itself in an environment that is a lot more complicated than the news being good or bad. In this market, events serve as a trigger for movement. If the technical conditions are right, negative news could trigger buying. We’ve seen this phenomenon play out a number of times during the drama playing out surrounding import taxes and trade wars. In effect, the market has traded up since Trump initially announced that he’d be imposing a tariff on aluminum and steel due to traders aggressively buying the bad news.

Yesterday, the market faced a problem; it wasn’t clear whether it should buy the correction or aggressively chase the momentum. We saw a gap up at the opening due to positive news from China, but that wasn’t enough to shape movement from hereon in.If the markets had opened at a negative gap against the backdrop of a trade war or the special congressional Pennsylvania elections, presumably, we’d see more triggers for buying the corrections, though things didn’t develop to the extend needed, leaving traders few possibilities, and they settled for selling their positions into the strength.

The important point is that navigating this market correctly requires an understanding of the strategy prevailing on the market. It doesn’t have to do with good news vs. bad news. It has to do with capitalizing on the news to get an edge. When things seem like it’s clearly the time to sell, look to buy the correction – and the reverse!

The market is looking for the news to justify the market’s next move. Neither the bulls nor the bears can feel too at ease. We’re not seeing the market trending in either direction now, but rather, we’re seeing a market constantly looking for the next short-term catalyst.

Daily Summary: The Dow Jones fell 1%, the S&P 500 slipping 0.57%. The NASDAQ shed 0.19%.

Another weight on investor sentiment yesterday was the figures showing U.S. retail sales having fallen for the third month in a row in February, pointing to a slowdown in the Q1 growth pace.

One of the stocks drawing attention yesterday was Signet (SIG), which tumbled 20.2% after releasing its last quarter results as well as a disappointing full-year forecast.

Ford (F) rose 2.2% after Morgan Stanley analysts upgraded their rating on the stock from “underweight” to “overweight,” concomitantly raising its earnings forecast for the carmaker.

On the S&P 500, 12 stocks rose to new 52-week highs, 5 dipping to new yearly lows; on the NASDAQ, 96    stocks recorded new 52-week highs, 41 falling to new yearly lows.

About 6.53 billion shares changed hands on U.S. exchanges, compared to the 7.14 billion average over the last 20 trading days.

Index Last

Daily change

DJX 24,758 (1.00%) Down
SPX 2,749 (0.57%) Down
NASDAQ 7,497 (0.19%) Down

 

Thursday’s Hot Stocks: BKS, DDD, WSM, TLRD, CTRP, BITA, DG

IPOs: RCUS

Have a great trading day!

 

 

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Tuesday 6:00 NFIB Small Business Optimism Index 107.1 Medium
Tuesday 8:30 Consumer Price Index 0.2 % Medium
Wednesday 8:30 PPI-FD 0.2 % Medium
Wednesday 8:30 Retail Sales 0.4 % Medium
Wednesday 10:00 Business Inventories 0.5 % Medium
Wednesday 10:30 Oil Inventories 2.4 M barrels Low
Thursday 8:30 Jobless Claims 230 K Medium
Thursday 8:30 Philadelphia Fed Business Outlook Survey 23.3  Medium
Thursday 8:30 Empire State Mfg Survey 14.6  Medium
Thursday 8:30 Import and Export Prices 0.3 %   / 0.3% Medium
Thursday 10:00 Housing Market Index 72 Medium
Friday Quadruple Witching
Friday 8:30 Housing Starts 1.284 M Medium
Friday 9:15 Industrial Production 0.3 % Medium
Friday 10:00 Consumer Sentiment 98.5 High
Friday 10:00 JOLTS 5.800 M Medium


 

 

Earning Calendar

 

Symbol Company AM/PM Day
QD Qudian Inc. AM Monday
WUBA 58.com Inc. AM Monday
GBT Global Blood Therapeutics Inc. PM Monday
COUP Coupa Software Incorporated PM Monday
DKS Dick’s Sporting Goods, Inc. AM Tuesday
GDS GDS Holdings Limited AM Tuesday
SIG Signet Jewelers Limited AM Wednesday
WSM Williams-Sonoma, Inc. PM Wednesday
YRD Yirendai Ltd. PM Wednesday
JUNO Juno Therapeutics, Inc. PM Wednesday
CTRP Ctrip.com International, Ltd. PM Wednesday
BITA Bitauto Holdings Limited AM Thursday
DG Dollar General Corporation AM Thursday
JBL Jabil Inc. PM Thursday
ULTA Ulta Beauty, Inc. PM Thursday
AVGO Broadcom Limited PM Thursday
TIF Tiffany & Co. AM Friday

 

 

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
TAL 39.28 TWTR CMCM
XOM 73.50 PYPL RDN
  Z SIG
    EVHC
    X
    AA

 

New York Strategy Swing

# Date Stock Long\

Short

Status Data Close Profit\

Loss

1 3.1.2018 VOYA Long Close 8.1.2017 +0.67%
2 4.1.2018 TER Long Close 10.1.2017 +0.45%
3 9.1.2018 SCG Long Close 10.1.2017 -3.35%
4 11.1.2018 CREE Long Close 16.1.2018 +1.84%
5 11.1.2018 CF Long Close 16.1.2018 +1.66%
6 18.1.2018 MARK Long Close 22.1.2018 -0.67%
7 1.2.2018 SM Long Close 2.2.2018 -1.06%
8 14.2.2018 HOLX Short Close 15.2.2018 -2.7%
9 26.2.2018 FOSL Long Close 9.3.2018 -1.47%
10 28.2.2018 APA Short Close 2.3.2018 -0.87%
11 5.3.2018 AKAM Long Close 13.3.2018 +4.14%
12 5.3.2018 FOX Long Close 13.3.2018 +2.25%
13 12.3.2018 CBG Long Open   -0.98%
14 13.3.2018 BOX Short Open   +0.95%

 

 

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

No.1 –   TAL      

Company Name TAL Education Group
Entry Point 39.28
Stop Area 37.45
1st Target 40.30
Swing Target
Avg. Volume 5.69M
Sector Services | Rental & Leasing Services
Earning Date
Risk Rate High
Risk\Reward Ratio

Risk Rates: Normal – Regular size, High –Consider reducing size, Low – Consider increasing size

Contact Information

Tradenet Capital Markets Ltd.

Phone+1-516-210-4148
+44-20-36420372
Mail[email protected] Websitewww.tradenet.com

Tradenet is a day trading training school. We offer courses including lessons about stock trading, CFDs, options, futures and foreign exchange.
At Tradenet, we specialize in providing day trading courses with inexperienced beginners and experienced traders.
We offer three learning options: self-taught interactive online courses, , live online group courses and 1:1 teachings.
Some of our services have several language options, including Spanish, German, French, Russian, Hungarian, Italian, Arabic, etc.