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 Post subject: August 5th Friday Trade Results - Profit $1,375.00
PostPosted: Fri Aug 05, 2016 6:19 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis.

Attachment:
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $1,375.00 dollars or +27.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $1,375.00 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log: All of my live trades are posted real-time in the timestamp ##TheStrategyLab free chat room. The live trade is posted 3.2 seconds on average after the trade confirmation via an auto script to minimize delays in posting of my trades. You can read today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=159&t=2428

The free chat room is not a signal calling trading room. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of the free chat room is for you to use as your trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. Also, you can use the free chat room to ask real-time WRB Analysis questions. Yet, please do not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for security reasons. The free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages and many different types of social media software can be used to log in. I'm the moderator of the free chat room. Thus, I keep the peace between members and I keep out the trouble makers so that members can peacefully post their observations about the markets, trades and WRB Analysis commentary.

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling trading room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=300&t=3238 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker PnL statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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click on the above image to view today's price action of key markets


4:15 pm: [BRIEFING.COM] The stock market ended the week on a higher note as a positive reading of the Employment Situation Report for July helped the Nasdaq Composite (+1.1%) and the S&P 500 (+0.9%) notch new all-time closing highs. The upbeat employment report elicited buying interest while diminishing on-going concerns regarding the strength of the U.S. labor market. Other factors impacting today's trade included weakness from the oil pit, continued strength in the dollar, and sector leadership from the heavily-weighted financial (+1.9%), technology (+1.2%), and consumer discretionary (+1.1%) sectors. The tech-heavy Nasdaq (+1.1%) finished ahead of the Dow Jones Industrial Average (+1.0%) and the S&P 500 (+0.9%).

Today's session began on a higher note as a better-than-expected reading of the Employment Situation Report for July helped reduce concerns regarding the hiring landscape. The report showed that nonfarm payrolls (255K; Briefing.com consensus 185K) and nonfarm private payrolls (217k; Briefing.com consensus 171k) each came in stronger-than-expected despite the impressive rebound in the June report. Furthermore, average hourly earnings (+0.3%; Briefing.com consensus +0.2%) also came in better-than-expected, which could pave the way to an increase in inflation expectations.

The positive employment report brought forward rate hike expectations, but the fed funds futures market still does not believe that a rate hike will happen before the end of 2016. The fed funds futures market currently estimates the odds of a rate hike at the December meeting at 46.5%, rising from yesterday's implied probability of 32.1%. The dollar strengthened in response while gold fell and the economically-sensitive financial sector (+1.9%) led today's rally.

Equity indices extended their advance through the session, shrugging off potential headwinds from a strengthening dollar and weakness in oil futures. The benchmark index hovered in the area of its record high for most of the session, notching a new all-time intraday high (2182.86) in the final hour. The S&P 500 (+0.9%) finished near its best level of the day as eight sectors ended in the green. The heavyweight financial (+1.9%), technology (+1.2%), and consumer discretionary (+1.1%) sectors outperformed while defensively-oriented telecom services (-0.2%) and utilities (-1.4%) ended in the red.

The financial sector (+1.9%) demonstrated broad-based strength as money center banks, investment brokerages, and life insurance names each outperformed. JPMorgan Chase (JPM 66.30, +1.74) and Citigroup (C 45.72, +1.88) finished higher by 2.7% and 4.3%, respectively. Separately, MetLife (MET 41.14, +1.60) finished the day higher by 4.1%, rebounding from yesterday's 8.7% decline. The economically-sensitive group finished the week higher by 1.4%, erasing its year-to-date loss.

The influential technology sector (+1.2%) finished ahead of the broader market as top-weighted Apple (AAPL 107.48, +1.61) gained 1.5%. The stock extended its recent rally, jumping 11.2% since reporting above-consensus bottom-line results on July 26. The high-beta chipmakers also outperformed, evidenced by the 1.3% gain in the PHLX Semiconductor Index. The price-weighted index erased a modest weekly loss to finish the week higher by 0.9%.

The Dow Jones Transportation Average (+1.9%) outperformed amid strength in rail names and airlines. The U.S. Global Jets ETF (JETS 22.32, +0.52) finished the day higher by 2.4%, trimming its weekly loss to 0.9%. Separately, railroads settled higher as Canadian Pacific (CP 144.04, +0.86) rebounded 0.6%. The name was under pressure yesterday after announcing a 9.8 million share public offering on behalf of Pershing Square.

The countercyclical health care sector (+0.3%) ended the day on a flat note as Bristol-Myers (BMY 63.28, -12.04) underperformed. The company announced that its lung-cancer treatment, Opdivo, failed to meet its primary endpoints. On the flipside, Dow component Merck (MRK 63.86, +6.02) topped the price-weighted index as investors looked to diminishing competition for its Keytruda drug.

The U.S. Dollar Index (96.24, +0.48) ended off its best level of the day, but the greenback still finished with gains against the pound, yen, and euro. Cable ended lower by 0.3% (1.3070) while the single currency declined 0.4% against the buck (1.1085). Separately, the dollar gained 0.5% against the safe-haven yen (101.76).

Treasuries ended the day on a lower note as yield rose across the curve. The yield on the 10-yr note settled higher by eight basis points, rising to 1.59%.

Participation was in-line with the recent average as more than 842 million shares changed hands at the NYSE floor.

Today's economic data included the Employment Situation Report for July, the June Trade Balance, and June Consumer Credit:

Nonfarm payrolls increased by 255,000 (Briefing.com consensus 185,000). Over the past three months, job gains have averaged 190,000 per month.
June nonfarm payrolls revised to 292,000 from 287,000
May nonfarm payrolls revised to 24,000 from 11,000
Private sector payrolls increased by 217,000 (Briefing.com consensus 171,000)
June private sector payrolls revised to 259,000 from 265,000
May private sector payrolls revised to -1,000 from-6,000
Unemployment rate was 4.9% (Briefing.com consensus 4.8%) versus 4.9% in June
Persons unemployed for 27 weeks or more accounted for 26.6% of the unemployed versus 25.8% in June
July average hourly earnings were up 0.3% (Briefing.com consensus 0.2%) after being up 0.1% in June
Over the last 12 months, average hourly earnings have risen 2.6%
The average workweek was 34.5 hours (Briefing.com consensus 34.4) versus 34.4 hours in June
July manufacturing workweek was unchanged at 40.7 hours
Factory overtime was up 0.1 to 3.3 hours
The labor force participation rate was 62.8% versus 62.7% in June
The trade deficit in June widened to $44.5 billion (Briefing.com consensus -$42.7 billion) from -$41.0 billion in May.
The widening was a byproduct of imports increasing by $4.2 billion month-over-month to $227.7 billion and exports increasing by only $0.6 billion month-over-month to $183.2 billion.
There was a $2.30 billion jump in imports of industrial supplies and materials, more than half of which was owed to imports of crude oil (+$1.43 billion), petroleum products (+$0.44 billion), and fuel oil (+$0.29 billion).
Capital goods imports, excluding automotive, were up $1.0 billion, with civilian aircraft (+$0.7 billion) accounting for much of that increase.
Imports of consumer goods increased $1.9 billion, paced by a robust $1.4 billion increase in pharmaceutical preparations and a $1.1 billion increase in cell phones and other household goods.
The export side of the equation featured a $0.6 billion increase in foods, feed, and beverages, a $0.4 billion increase in consumer goods, and a $0.3 billion increase in capital goods, excluding automotive, which was offset in part by a $0.4 billion decline in exports of autos, parts, and engines.
On a year-over-year basis, imports are down 2.4% while exports are down 3.8%.
Total outstanding consumer credit increased by $12.3 billion in June after increasing a downwardly revised $18.0 billion (from $18.6 billion) in May. The Briefing.com consensus estimate for June was $16.2 billion.
In the preceding 12-month period leading up to June, consumer credit had risen by an average of $17.7 billion.
The growth in June was driven by a $7.7 billion increase in revolving credit, which rose to $960.8 billion, and a $4.6 billion increase in nonrevolving credit to $2673.1 billion.
In June, consumer credit increased at an annual rate of 4.0%. For the second quarter, consumer credit increased at a seasonally adjusted annual rate of 5.25%.

There is no economic data of note scheduled to be released on Monday.

Russell 2000 +8.3% YTD
S&P 500 +6.8% YTD
Dow Jones +6.4% YTD
Nasdaq Composite +4.3% YTD

Week in Review: Stocks Hit New-er Records

The stock market entered Friday with a modest weekly loss,but a rally that developed in the wake of a better than expected EmploymentSituation Report for July (255,000; Briefing.com consensus 185,000) helped theS&P 500 log its fifth weekly gain in the past six weeks. The benchmarkindex added 0.4% for the week while the Nasdaq Composite (+1.1%) outperformed.Both indices marked fresh all-time highs on Friday.

Investors received another heavy dose of quarterly earnings,but the latest batch of results came from companies that had littlemarket-moving cachet. At the end of the week, nearly 90.0% of S&P 500components had reported earnings, showing a 3.5% decline in blended earnings, whichwas worse than the 3.2% contraction projected by FactSet.

In addition to earnings, investors received the latestpolicy statement from the Bank of England, which proved to be a dovishsurprise. The central bank lowered its key rate by 25 basis points to 0.25%,increased its purchase program to GBP435 billion from GBP375 billion, andannounced it will buy up to GBP10 billion of corporate debt. The news pressuredthe pound into the 1.31 area against the dollar, but somewhat surprisingly, thestepped up easing efforts had little impact on global equity markets.

The S&P 500 advanced to a new record high onFriday after the Employment Situation report for July (255,000; Briefing.comconsensus 185,000) beat estimates, showing above-consensus average hourlyearnings growth of 0.3% (Briefing.com consensus 0.2%). Over the past year,average hourly earnings have risen 2.6%, but rate hike expectations remainsubdued with the fed funds futures market not pricing in a 50.0%+ chance or arate hike until March 2017 (51.2%).

3:30 pm: [BRIEFING.COM]

The dollar index held onto its early morning gains, +0.5% around the 96.22 level
Commodities, as measured by the Bloomberg Commodity Index, are down -0.1% around the 83.85 level
Crude oil drifts lower after the release of Baker Hughes rig count data
September crude oil futures fell $0.10 (-0.2%) to $41.83/barrel
Monthly IEA data will be released Aug 11
Rig Count Data:
Baker Hughes total U.S. rig count up 1 to 464 rigs following last week's increase of 1
International rig count for July 2016 was 938, up 11 from the 927 counted in June 2016, and down 180 from the 1,118 counted in July 2015.
The avg U.S. rig count for July 2016 was 449, up 32 from the 417 counted in June 2016, and down 417 from the 866 counted in July 2015.
The worldwide rig count for July 2016 was 1,481, up 74 from the 1,407 counted in June 2016, and down 686 from the 2,167 counted in July 2015.
Natural gas extends yesterday's post-EIA sell-off
September natural gas closed $0.06 lower (-2.1%) at $2.77/MMBtu
In precious metals, gold & silver end just off of session lows as the dollar index gains momentum
December gold ended today's session down $22.70 (-1.7%) to $1344.50/oz
September silver closed today's session $0.63 lower (-3.1%) at $19.80/oz

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade for the week, the Nasdaq Composite (+1.0%) leads the Dow Jones Industrial Average (+0.9%) and the S&P 500 (+0.7%).

In economic news, the just-released Consumer Credit report for June showed an increase of $12.32 billion while the Briefing.com consensus expected growth of $16.20 billion. The prior month's credit growth was revised lower to $17.91 billion from $18.56 billion.

The leaderboard remains little changed as eight sectors trade in positive territory. The heavyweight financial sector (+1.7%) leads technology (+1.1%) and consumer discretionary (+1.0%). The remaining advancers sport upticks between 0.1% (health care) and 0.9% (industrials). On the flipside, countercyclical telecom services (-0.4%) and utilities (-1.4%) round out the board.

Treasuries continue to drift as yields rise across the curve. The yield on the 10-yr note has risen eight basis points to 1.59%.

WTI crude ended its day lower by 0.2% ($41.83/bbl; -$0.10), locking in a weekly gain of 0.7%.

2:30 pm:

[BRIEFING.COM] The stock market has continued trading in sideways fashion as the Dow Jones Industrial Average (+0.9%) sits slightly ahead of the S&P 500 (+0.8%).

WTI crude trades lower by 0.6% ($41.70/bbl; -$0.23) ahead of its pit session close at 14:30 ET. The energy component staged an impressive reversal this week after being down 5.0% on Tuesday. Oil futures look to finish the week on a relatively flat note, sporting a week-to-date gain of 0.3%.

The commodity-sensitive energy sector (+0.8%) trades in-line with the broader market as Dow components Exxon Mobil (XOM 87.41, -0.07) and Chevron (CVX 100.16, -0.23) weigh on the sector. Separately, independent oil and gas names outperform with EOG Resources (EOG 90.51, +6.29) leading the group. The stock has rallied 7.5% after being upgraded to "Buy" from "Hold" at Deutsche Bank.

The U.S. Dollar Index (96.18, +0.42) continues to trade off its best level of the day as the pound and euro trim their losses against the greenback. Sterling trades lower by 0.2% against the buck (1.3083) after the pair briefly hit the 1.3022 price level. Separately, the euro/dollar pair trades lower by 0.3% (1.1093).

2:00 pm:

[BRIEFING.COM] The stock market continues to hover near its best level of the day as the S&P 500 (+0.8%) trades one point off its session high. The benchmark index has extended its year-to-date gain to 6.7%, maintaining its lead over the Dow Jones Industrial Average (+0.9%; year-to-date: +6.3%) and Nasdaq Composite (+1.1%; year-to-date: +4.4%).

The consumer discretionary space (+1.1%) displays relative strength as auto names continue their recent rebound effort. Ford (F 12.23, +0.15) has gained 1.2% after reporting that sales in China rose 15.0% year-over-year in July. The stock continues to sport a loss of 11.6% since the company issued cautious guidance on July 28.

Retail names also outperform in the consumer discretionary sector as L Brands (LB 74.59, +1.78) and Nordstrom (JWN 43.96, +1.96) gain 2.5% and 4.7%, respectively. The broader SPDR S&P Retail ETF (XRT 44.88, +0.80) has gained 1.8% today, but continues to sport a weekly loss of 0.5%.

The Treasury complex floats near lows as yields rise across the complex. The yield on the 10-yr note registers at 1.58% (+1 bps).

1:30 pm:

[BRIEFING.COM] The major U.S. indices continue to sport solid gains following this morning's jobs report.

A look inside the Dow Jones Industrial Average shows that Merck (MRK 62.47, +4.63), JPMorgan (JPM 66.31, +1.75), and American Express (AXP 65.55, +1.61) are outperforming. Merck is notably higher following a trial failure from competitor Bristol-Myers Squibb (BMY 63.74, -11.58). BMY announced this morning that CheckMate -026, a trial investigating the use of its Opdivo as a monotherapy, did not meet its primary endpoint of progression-free survival in patients with previously untreated advanced non-small cell lung cancer. Merck, who owns Keytruda, was seen at the largest benefactor following the unexpected setback for Bristol-Myers. Elsewhere, JPMorgan is benefiting from a sector wide rally in financials, today's best performing space.

Conversely, Verizon (VZ 53.58, -0.35) is the worst-performing Dow component as telecoms sit on the sidelines during today's rally.

With today's gains, the DJIA is poised to end the week higher by 0.43%

1:05 pm:

[BRIEFING.COM] The stock market trades on a broadly higher note at midday as investors pore over a positive reading of the Employment Situation Report for July. At midday, the Nasdaq Composite (+1.1%) leads the Dow Jones Industrial Average (+0.9%) and the S&P 500 (+0.8%).

Equity indices climbed at the start of the session as participants examined some strong headline readings of the July employment report. The report showed that nonfarm payrolls (255k; Briefing.com consensus 185K) and nonfarm private payrolls (217k; Briefing.com consensus 171k) each handily beat estimates. Separately, average hourly earnings (+0.3%; Briefing.com consensus +0.2%) also made positive strides, pushing the year-over-year rate to 2.6%.

Today's employment reading has helped diminish persisting concerns regarding the strength of the U.S. labor market while leading to increased speculation regarding a fed funds rate hike by the end of the year. Other focal points impacting today's trade include strengthening in the dollar, a downturn in crude oil, and sector leadership from the heavily-weighted financial (+1.7%), consumer discretionary (+1.1%), and technology (+1.1%) sectors.

The major averages extended their advance through the first half of trade as the benchmark index carved out a new all-time intraday high (2182.34). Separately, the Nasdaq Composite (+1.1%) is on pace to notch a new all-time closing high (previous: 5218.86). Eight sectors continue to trade in the green as heavily-weighted financials (+1.7%), consumer discretionary (+1.1%), and technology (+1.1%) lead the advance. The remaining gainers sport upticks between 0.1% (health care) and 0.9% (industrials). Conversely, defensively-oriented utilities (-1.0%) and telecom services (-0.2%) show the only losses.

The economically-sensitive financial sector (+1.7%) shows broad-based strength as market expectations for a rate hike by the end of the year inch higher. The fed funds futures market currently estimates the odds of a rate hike at the December meeting at 46.5%, rising from yesterday's implied probability of 32.1%. In the group, money center banks outperform as Citigroup (C 42.25, +1.41) and Bank of America (BAC 15.03, +0.55) gain 3.2% and 3.8%, respectively. Elsewhere, Prudential (PRU 76.10, +3.26) and MetLife (MET 41.24, +1.70) have rebounded 4.4% apiece after yesterday's earnings-induced selloff.

In the consumer discretionary space (+1.1%), travel and leisure names outperform, trading higher in sympathy with Priceline (PCLN 1419.56, +59.57). The company beat bottom-line estimates for the quarter on in-line revenue. Meanwhile, Netflix (NFLX 97.35, +3.91) has jumped 4.2%, trimming its post-earnings loss to 1.3%. The stock has benefited from a fresh round of M&A speculation.

The influential technology sector (+1.1%) outperforms as large cap component Apple (AAPL 107.54, +1.67) displays relative strength. The high-beta chipmakers trade slightly ahead of the broader sector, evidenced by the 1.3% gain in the PHLX Semiconductor Index. In the group, Infinera (INFN 9.35, +0.33) and Micron (MU 14.58, +0.55) outperform, climbing 3.8% and 3.9%, respectively.

Bristol-Myers (BMY 63.92, -11.40) weighs on the health care sector (+0.1%) after reporting that a test of its lung cancer treatment, Opdivo, failed to meet its primary endpoints. However, fellow large cap Merck (MRK 62.22 +4.38) has gained 7.6% as investors anticipate reduced competition for its Keytruda drug. The broader sector has declined 0.2% this week, which compares to a gain of 0.4% in the benchmark index.

The U.S. Dollar Index (96.23, +0.47) sports a solid gain with the dollar climbing against the pound, yen, euro, and Canadian dollar. The pound/dollar pair trades lower by 0.2% (1.3077) while the single currency has declined 0.4% against the greenback (1.1088). Separately, the dollar has gained 1.2% against the Canadian dollar (1.3178) as a downturn in oil and positive economic data boost the greenback.

Treasuries continue to sport modest losses as yields rise across the curve. The yield on the 10-yr note has risen six basis points to 1.57%.

Today's economic data included the Employment Situation Report for July and the June Trade Balance:

Nonfarm payrolls increased by 255,000 (Briefing.com consensus 185,000). Over the past three months, job gains have averaged 190,000 per month.
June nonfarm payrolls revised to 292,000 from 287,000
May nonfarm payrolls revised to 24,000 from 11,000
Private sector payrolls increased by 217,000 (Briefing.com consensus 171,000)
June private sector payrolls revised to 259,000 from 265,000
May private sector payrolls revised to -1,000 from-6,000
Unemployment rate was 4.9% (Briefing.com consensus 4.8%) versus 4.9% in June
Persons unemployed for 27 weeks or more accounted for 26.6% of the unemployed versus 25.8% in June
July average hourly earnings were up 0.3% (Briefing.com consensus 0.2%) after being up 0.1% in June
Over the last 12 months, average hourly earnings have risen 2.6%
The average workweek was 34.5 hours (Briefing.com consensus 34.4) versus 34.4 hours in June
July manufacturing workweek was unchanged at 40.7 hours
Factory overtime was up 0.1 to 3.3 hours
The labor force participation rate was 62.8% versus 62.7% in June
The trade deficit in June widened to $44.5 billion (Briefing.com consensus -$42.7 billion) from -$41.0 billion in May.
The widening was a byproduct of imports increasing by $4.2 billion month-over-month to $227.7 billion and exports increasing by only $0.6 billion month-over-month to $183.2 billion.
There was a $2.30 billion jump in imports of industrial supplies and materials, more than half of which was owed to imports of crude oil (+$1.43 billion), petroleum products (+$0.44 billion), and fuel oil (+$0.29 billion).
Capital goods imports, excluding automotive, were up $1.0 billion, with civilian aircraft (+$0.7 billion) accounting for much of that increase.
Imports of consumer goods increased $1.9 billion, paced by a robust $1.4 billion increase in pharmaceutical preparations and a $1.1 billion increase in cell phones and other household goods.
The export side of the equation featured a $0.6 billion increase in foods, feed, and beverages, a $0.4 billion increase in consumer goods, and a $0.3 billion increase in capital goods, excluding automotive, which was offset in part by a $0.4 billion decline in exports of autos, parts, and engines.
On a year-over-year basis, imports are down 2.4% while exports are down 3.8%.

12:30 pm:

[BRIEFING.COM] The broader market continues to hover near its best level of the session as the Dow Jones Industrial Average (+0.9%) leads the S&P 500 (+0.8%). The two indices show weekly gains of 0.4% apiece.

The Dow Jones Transpiration Average (+1.7%) demonstrates relative strength as airlines and rail names outperform. Delta Air Lines (DAL 37.63, +1.09) and United Continental (UAL 47.90, +2.00) have gained 2.9% and 4.4%, respectively. Separately, railroads trade higher in sympathy with Canadian Pacific (CP 144.80, +1.62). The stock has rebounded 1.1% today after declining 2.8% in the prior session. Yesterday's move lower was prompted by the news of a 9.8 million share public offering on behalf of Pershing Square.

The U.S. Dollar Index (96.30, +0.55) continues to hold gains as the greenback advances against the pound, euro, yen, and Canadian dollar. Cable trades lower by 0.3% (1.3066), extending yesterday's 2.0% decline. Meanwhile, the dollar/Canadian dollar pair trades higher by 1.3% (1.3188) amid continued weakness in oil futures.

12:00 pm:

[BRIEFING.COM] The major indices continue to float near their best levels of the session as the Nasdaq Composite (+1.1%) leads the S&P 500 (+0.8%). Separately, the domestically-oriented Russell 2000 (+1.4%) outperforms.

The influential technology sector (+1.2%) trades off its session high, but continues to sport a weekly gain of 1.5%. In the space, top-weighted Apple (AAPL 107.43, +1.56) outperforms. Shares of the company have jumped 11.1% since reporting earnings on July 26. Elsewhere, Symantec (SYMC 22.12, +1.09) has rallied 5.2% after beating bottom-line estimates for the quarter and guiding its full-year revenue above consensus. The broader sector has extended its year-to-date gain to 8.2% while the benchmark index has advanced 6.7% in 2016.

The high-beta chipmakers trade in-line with the broader sector as the PHLX Semiconductor Index (+1.2%) erases a modest weekly loss. In the group, Micron (MU 14.70, +0.67) outperforms, tacking onto its weekly reversal. Micron has jumped 7.0% since last Friday's close, which compares to a gain of 1.2% in the tech-heavy Nasdaq over that same period.

11:30 am:

[BRIEFING.COM] The S&P 500 (+0.8%) recently notched a fresh all-time intraday high (2181.76), extending its weekly gain to 0.3%.

The countercyclical health care sector (UNCH) continues to wrestle with its flat line as Dow component Bristol-Myers (BMY 62.77, -12.55) underperforms. The company reported disappointing endpoint results for its lung cancer treatment. Separately, Aetna (AET 118.85, +2.24) and Humana (HUM 179.58, +5.75) outperform among health care plan names. Reports indicated that the Aetna/Humana trial will not be heard by the same judge who will preside over the case between Anthem (ANTM 127.65, +083) and Cigna (CI 128.95, +0.67). Recall that on July 21st the Justice Department announced that it will be taking steps to block mergers between Anthem & Cigna and Aetna & Humana.

On the commodities front, WTI crude has trimmed its gain in recent action. The energy component currently sports a loss of 1.1% ($41.46/bbl, -$0.47). Separately, gold continues to trade near its low, sliding 1.7% to $1,344.40/ozt.

10:55 am:

[BRIEFING.COM] The major averages hover near their best levels of the session with the S&P 500 trading up 0.7%.

The economically-sensitive financial sector (+1.5%) remains well ahead of its peers. In the group, money center banks and asset management companies outperform, responding to the increased likelihood of a fed funds rate hike before the end of the year. Citigroup (C 45.02, +1.18) outperforms among bank names while Dow component Goldman Sachs (GS 160.72, +2.67) is the second best performer inside the price-weighted index. The financial sector has gained 1.0% this week, trailing only the influential technology sector (+1.1%; week-to-date +1.5%) over that period.

Treasuries continue to hold modest losses as yields rise throughout the complex. The yield on the 10-yr note has risen six basis points to 1.56%. The yield on the 10-yr note has jumped ten basis points from last Friday's settlement at 1.46%.

10:30 am: [BRIEFING.COM]

The dollar index is was up +0.7% around the 96.47 level, weighing on commodities
Commodities, as measured by the Bloomberg Commodity Index, were down -0.2% around the 83.73 level
In precious metals, gold futures dropped $23.60 (-1.7%) near the $1343.80/oz level as the dollar surges
Silver futures followed suit, declining $0.64 (-3.2%) at $19.80/oz
Crude oil drifts lower after Baker Hughes released July 2016 rig count data
August crude oil futures are down $0.51 (-1.2%) around the $41.43/barrel level
Monthly IEA data will be released Aug 11
More Baker Hughes rig count data will be released at 1 pm ET
International rig count for July 2016 was 938, up 11 from the 927 counted in June 2016, and down 180 from the 1,118 counted in July 2015.
The avg U.S. rig count for July 2016 was 449, up 32 from the 417 counted in June 2016, and down 417 from the 866 counted in July 2015.
The worldwide rig count for July 2016 was 1,481, up 74 from the 1,407 counted in June 2016, and down 686 from the 2,167 counted in July 2015.
Natural gas extended yesterday's losses post-EIA
August natural gas futures were down $0.03 (-1.1%) at $2.80/MMBtu
Base metal copper declines for the third consecutive session in morning pit trading
September copper futures were down $0.01 (-0.3%) around the $2.22/lb level

10:00 am:

[BRIEFING.COM] The major averages float near fresh session highs as the Nasdaq Composite (+0.9%) leads the S&P 500 (+0.6%). The two indices sport respective weekly gains of 1.0% and 0.2%.

The leaderboard remains little changed as heavily-weighted financials (+1.5%), consumer discretionary (+1.1%), and technology (+0.8%) lead the pack. Conversely, defensively-oriented utilities (-0.7%) and telecom services (-0.1%) underperform.

In the consumer staples space (+0.6%), Kraft Heinz (KHC 90.40, +4.86) trades higher by 5.7% after beating bottom-line estimates for the quarter on in-line revenue. The stock is also benefiting from an upgrade to "Buy" from "Hold" at Deutsche Bank.

The U.S. Dollar Index (96.40, +0.65) hovers off its best level of the session as the buck sports gains against the pound, yen, euro, and Canadian dollar. The pound/dollar pair trades lower by 0.4% (1.3051) while the single currency has declined 0.7% against the greenback (1.1052). Separately, the dollar has gained 1.2% against the Canadian dollar (1.3179) as a downturn in crude oil and positive U.S. economic data boosts the buck.

9:45 am:

[BRIEFING.COM] The stock market began the day on a higher note as the Nasdaq Composite (+0.7%) and the Dow Jones Industrial Average (+0.7%) lead the S&P 500 (+0.5%).

Seven sectors trade in the green as heavily-weighted financials (+1.3%) and consumer discretionary (+1.0%) pace the advance. The remaining gainers sport upticks between 0.2% (materials) and 0.7% (technology). Conversely, countercyclical utilities (-0.6%), telecom services (-0.2%), and health care (-0.1%) show the only losses.

The Dow Jones Transportation Average (+1.4%) displays relative strength as airline names outperform. The U.S. Global Jets ETF (JETS 22.15, +0.36) has gained 1.7% while United Continental (UAL 47.40, +1.50) has jumped 3.2%.

In the consumer discretionary space (+0.9%), travel and tourism names outperform, trading higher in sympathy with Priceline (PCLN 1427.36, +67.36). The company leads after topping analysts' bottom-line estimates for the quarter.

On the commodities front, WTI crude trades lower by 1.1% ($41.48/bbl; -$0.45) while hold has fallen 1.4% to $1,347.70/ozt.

9:17 am: [BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +22.90.

The stock market is on track for a higher open with S&P 500 futures trading eight points above fair value.

Index futures moved to fresh session highs as investors assessed an encouraging reading of the Employment Situation Report for July. The report showed stronger-than-expected headline growth (255k; Briefing.com consensus 185K) and also contained a positive revision to the June reading (to 292k from 287k). The July report also featured an above-consensus reading of hourly earnings (+0.3%; Briefing.com consensus +0.2%), which may encourage Fed officials who are looking for increased inflation expectations. Combined with the June report, the July reading strengthens the argument that the Fed has a data-driven rationale to raise the fed funds rate at least one time before the end of the year. Currently, the fed funds futures market reflects the odds of a rate hike at the September meeting at 18.0%, rising from 9.0% yesterday. The implied probability of a rate hike at the December meeting has increased to 42.7% from 32.1% yesterday.

The U.S. Dollar Index (96.31, +0.56) spiked on the positive employment data, showing gains against the euro, pound, yen, and Canadian dollar. Sterling abandoned a slim gain against the dollar, sliding to the 1.3034 price level after the data. Separately, the dollar/yen pair trades higher by 0.3% (101.50).

In company specific news, Bristol-Myers (BMY 61.86, -13.46) has tumbled 17.9% after a study of its lung cancer drug, Opdivo, failed to meet primary endpoints. Merck (MRK 63.50, +5.66) has rallied 9.8% on the news, anticipating reduced competition for its Keytruda medication.

Today's data will be capped off with June Consumer Credit (Briefing.com consensus $16.2 billion), which will be released at 15:00 ET.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +8.80. Nasdaq futures vs fair value: +23.90.

U.S. equity futures float at session highs, responding to this morning's positive employment reading. The S&P 500 futures trade nine points above fair value.

Equity indices across the Asia-Pacific region ended the week on a mostly higher note while Japan's Nikkei (unch) could not pull away from its flat line. The country's Ministry of Economy, Trade, and Industry warned that persistent yen strength is likely to be a negative for corporate capital spending plans. Overall, the Friday session was fairly quiet as market participants employed caution ahead of the release of the July Employment Situation report for the U.S. (255k; Briefing.com consensus 185,000). It is worth noting that the Reserve Bank of Australia released its latest policy statement, but made no changes to GDP and inflation forecasts.

In economic data:
Japan's Average Cash Earnings +1.3% year-over-year (consensus 0.4%; last -0.1%) and June Overtime Pay -0.1% year-over-year (last 0.6%). Leading Index 98.4 (expected 99.6; previous 99.7)
Australia's AIG Construction Index 51.6 (previous 53.2)

---Equity Markets---

Japan's Nikkei settled flat, losing 1.9% for the week. Health care (-1.4%) and industrials (-0.9%) underperformed while consumer discretionary (+0.6%) and technology (+0.1%) finished in the lead. Isuzu Motors, Maruha Nichiro, Nissan Chemical Industries, Sony Financial Holdings, and Tokyo Electron lost between 2.7% and 6.3%.
Hong Kong's Hang Seng climbed 1.4%, adding 1.2% for the week. The advance was paced by property names with the likes of Link Reit, China Resources Land, SHK Properties, New World Development, and Sino Land advancing between 1.9% and 3.9%.
China's Shanghai Composite slipped 0.2%, shedding 0.1% for the week. Shanghai Lansheng, Nanjing Pharmaceuticals, and China National Software & Service lost between 3.2% and 3.4%.

Major European indices trade higher, gaining after the release of a positive reading of the U.S. Employment Situation Report for July (255k; Briefing.com consensus 185,000). Regional equities have shown strength after yesterday's policy decision from the Bank of England. Economic news from Europe was limited, but it is worth noting that German Factory Orders (-0.4% month-over-month; +0.6% expected) disappointed.

In economic data:
Germany's June Factory Orders -0.4% month-over-month (expected 0.6%; last 0.1%)
UK's July Halifax House Price Index -1.0% month-over-month (expected -0.2%; last 1.2%); +8.4% year-over-year (consensus 8.5%; last 8.4%)
France's June trade deficit widened to EUR3.40 billion from EUR2.70 billion (expected deficit of EUR3.90 billion)
Spain's June Industrial Production +0.8% year-over-year (consensus 1.6%; last 0.9%)
Italy's June Industrial Production -0.4% month-over-month (expected 0.3%; last -0.6%); -1.0% year-over-year (consensus 1.0%; last -0.6%)

---Equity Markets---

UK's FTSE is higher by 0.6% with miners and homebuilders among the leaders. Rio Tinto, BHP Billiton, Anglo American, Antofagasta, and Fresnillo are up between 2.5% and 4.2% while Barratt Developments and Taylor Wimpey are both up near 2.6%.
Germany's DAX has added 0.7% with exporters in the lead. Continental, Daimler, Volkswagen, and BMW show gains between 1.3% and 1.8%. Financials Commerzbank and Deutsche Bank trade in the middle of the pack, rising 1.6% apiece.
France's CAC trades up 1.0%. Lafarge has jumped 4.7% in reaction to upbeat results while automakers Peugeot and Renault are both up near 2.2%. Financials Societe Generale, BNP Paribas, and Credit Agricole have added between 0.9% and 2.3%.

8:34 am: [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +15.80.

Equity futures moved higher following the release of the Employment Situation Report for July. The S&P 500 futures trade seven points above fair value.

July nonfarm payrolls came in at 255,000 while the Briefing.com consensus expected a reading of 185,000. The prior month's reading was revised higher to 292,000 (from 287,000). Nonfarm private payrolls added 217,000 while the consensus expected an increase of 171,000. The unemployment rate came in at 4.9% (Briefing.com consensus 4.8%).

Average hourly earnings increased 0.3% (Briefing.com consensus 0.2%). The average workweek was reported at 34.5, compared to the 34.4 called for by the consensus estimate.

Separately, the June trade balance showed a deficit of $44.50 billion while the Briefing.com consensus expected the deficit to come in at $42.7 billion. The previous month's deficit was revised to $41.0 billion from $41.1 billion.

8:02 am: [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +10.30.

U.S equity futures have inched off overnight highs as the S&P 500 futures float four points above fair value. Futures gained overnight as global markets responded to yesterday's dose of policy stimulus from the Bank of England. The central bank voted to lower its Bank Rate to 0.25% (from 0.50%) and expand its asset purchases program.

Separately, market participants look ahead to the release of the Employment Situation Report for July. The Briefing.com consensus expects Nonfarm Payrolls to increase by 185k while it also expects to see the unemployment rate slip to 4.8% (from 4.9%). Investors are looking for confirmation that U.S. employment markets remain strong after June's report showed an impressive reversal from a dismal May reading. For its part, WTI crude trades lower by 0.8% ($41.61/bbl; -$0.32) after rebounding 2.7% yesterday.

Treasuries trades on a mixed note with the yield on the 10-yr note slipping one basis point to 1.49%.

On the economic front, data includes the 8:30 ET release of the Employment Situation Report for July. Separately, the June Trade Balance Report (Briefing.com consensus -$42.7 billion) and June Consumer Credit (Briefing.com consensus $16.2 billion) will cross the wires at 8:30 ET and 15:00 ET, respectively.

In U.S. corporate news of note:

Priceline (PCLN 1,441.16, +81.17): +6.0% after beating bottom-line estimates for the quarter and issuing in-line guidance
Kraft Heinz (KHC 89.35, +3.81): +4.5% following the company reporting above-consensus bottom-line results on in-line revenue
Rackspace (RAX 30.90, +4.80): +18.4% after reports indicated that the company is near a deal to be acquired by a private equity firm
FireEye (FEYE 14.21, -2.54): -15.2% following the company reporting a mixed quarter and lowering Q3 and FY16 revenue below consensus

Reviewing overnight developments:

Asia-Pacific indices ended the week on a mixed note with Hong Kong's Hang Seng (+1.4%) outperforming Japan's Nikkei (UNCH) and China's Shanghai Composite (-0.2%).
In economic data:
Japan's Average Cash Earnings +1.3% year-over-year (consensus 0.4%; last -0.1%) and June Overtime Pay -0.1% year-over-year (last 0.6%). Leading Index 98.4 (expected 99.6; previous 99.7)
Australia's AIG Construction Index 51.6 (previous 53.2)
In news:
In Japan, the Ministry of Economy, Trade, and Industry warned that persistent yen strength is likely to be a negative for corporate capital spending plans.
The Friday session was fairly quiet as market participants employed caution ahead of the release of the July Employment Situation report for the U.S. (Briefing.com consensus 185,000).
The Reserve Bank of Australia released its latest policy statement, but made no changes to GDP and inflation forecasts.

European markets hold modest gains as France's CAC (+0.4%) leads Germany's DAX (+0.2%) and the U.K.'s FTSE (UNCH).
In economic data:
Germany's June Factory Orders -0.4% month-over-month (expected 0.6%; last 0.1%)
UK's July Halifax House Price Index -1.0% month-over-month (expected -0.2%; last 1.2%); +8.4% year-over-year (consensus 8.5%; last 8.4%)
France's June trade deficit widened to EUR3.40 billion from EUR2.70 billion (expected deficit of EUR3.90 billion)
Spain's June Industrial Production +0.8% year-over-year (consensus 1.6%; last 0.9%)
Italy's June Industrial Production -0.4% month-over-month (expected 0.3%; last -0.6%); -1.0% year-over-year (consensus 1.0%; last -0.6%)
In news:
Regional equities have shown strength after yesterday's policy decision from the Bank of England.
Separately, the pound has climbed 0.5% against the dollar to 1.3167.
It is also worth noting that German Factory Orders (-0.4% month-over-month; +0.6% expected) disappointed.

6:08 am: [BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +12.30.

6:08 am: [BRIEFING.COM] Nikkei...16254...-0.40...0.00. Hang Seng...22146...+313.90...+1.40%.

6:08 am: [BRIEFING.COM] FTSE...6760.38...+20.20...+0.30%. DAX...10243...+15.10...+0.20%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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