Stocks to Trade 3-10-17 | Trump Jobs Report-Nonfarm Payrolls

jobs report-help wanted

Jobs Report: What to Watch For

At 8:30 a.m. Eastern time, the Labor Department will report the figures on hiring and unemployment in February.

After job gains of 227,000 in January, analysts are expecting another strong showing, with hires topping 200,000. Although monthly reports from the private payroll processing firm ADP often do not correspond to the Labor Department’s figures, ADP’s unusually robust report of 298,000 jobs on Wednesday led several economists to increase their initial estimates.

The unemployment rate is expected to dip back down to 4.7 percent.

nytimes.com

Wall Street stocks hint at a stronger open as investors ready for jobs data

U.S. stock futures were pointing to a bounce higher at the market open Friday, ahead of the closely watched monthly jobs report that could further cement expectations for an interest-rate increase soon.

The nonfarm payrolls report for February — the first such jobs report under the administration of U.S. President Donald Trump — is due at 8:30 a.m. Eastern Time. Economists polled by MarketWatch expect a 221,000 increase in jobs, against a gain of 227,000 in January.

marketwatch.com

Big jobs report today: 4 things to know

The U.S. economy gets a major gut check on Friday.

The Labor Department publishes the February jobs report at 8:30 a.m. ET. Here are 4 things to know before it comes out.

1. It will capture the first full month of job growth under President Trump: Trump was president for only 11 days in January. So Friday’s report is the first he gets to fully own. And it will be the earliest reading of his progress toward his bold campaign promise to create 25 million new jobs over the next 10 years.

money.cnn.com

How Successful Traders Think

Download this free 19 page e-book today and join me as I review an email from a struggling trader and give some advice on how to get back on track.

Today’s Trading Lesson…

Are you struggling to get past break-even, and have no idea why?

You know how to trade, you know all the classic trade setups, you have perfect entry signals and you read every book on trading mindset. There isn’t a podcast you haven’t downloaded.

But you still can’t generate a consistent income. You always feel CLOSE. You know in your heart you have what it takes. You feel strongly if you knew the “one thing” you are missing, your income would explode into a dependable river of cash flow.

Today’s video explains the reason for your struggles and how to fix it.

Please leave your comments and questions at the bottom of the blog post.

On the Tape Today | 3-10-17

$KHC 3-10-17

$KHC 3-10-17

KHC | Kraft Heinz continues to get added to the daily game plan. Each day the stock price consolidates, the more we can expect an explosion in volatility. Looking for the 7 day consolidation to trigger a $92 buy-stop and a new swing trade with a target to sell @ $96.50. Stop loss on a close below $91.

DKS | Dicks Sporting Goods took a hit on earnings despite mostly positive numbers. Can't find the order flow and the momentum-both are bearish. After two days of consolidation, looking for a $47.75 sell-stop to trigger a new short sale. Intending to hold for a swing trade with a target of $40.50. Stop loss if filled on a close above $49.

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$SPY Hourly Chart 3-10-17

$SPY Hourly Chart 3-10-17

Tape Reading the SPY ETF

$SPY reversal and increase in volume (85 million) implies a short-term bottom ahead of today’s jobs report.

If you traded smart, today becomes the day to push your share size and hold longer. Should the jobs number (8:30am) be interpreted as positive, and the premarket reaction is supported by bids into the open, look for a trend day.

These types of if-then scenarios must become part of your game planning or you will forever believe every trade looks the same.

if every trade looks the same you will never know when to stay in cash, when to trade for cash flow and when to build and hold positions. Yesterday, leading into today, AND the previous six day decline— ALL combine for today’s game plan.

If the bid doesn’t look positive after the first 30 minutes of trading you are back into cash flow mode, unless the stock market trades above the open price.

Make your game plan definite, but be flexible in your bias based on the price action. Let the market unfold, but know what you are definitely going to do.

Stock Market Today: Heatmap of the S&P 500

$SP 500 3-10-17

$SP 500 3-10-17

Stocks to Trade 3-10-17 | Friday Edition

Short-Term Trading Momentum

Bullish Momentum: AKAO THC

Bearish Momentum: aal, aig, wdc

Quarterly Order Flow

Bullish Stocks to Trade: CELG, INCY, BIVV, AVGO, AMGN, AET, SWKS, FB, HD, AMT, RH, BA, MOMO

Bearish Stocks to Trade: gild, lb, mnk, nem, eqt, trip, psx, urbn, dvn, prgo, kors, sm, tgt, oxy, slb, xom, rrc, clr

2x Normal Volume: MOMO, DVN, APA, SM, DISH

Inside days: bac, c, wfc, jpm, ms, mrk, teva, nem, hrb, jd, baba, m, adm, coh, bby, cern, jnpr, amtd, jwn, dltr, tsn

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