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 Post subject: August 11th Thursday Trade Results - Profit $625.00
PostPosted: Fri Aug 12, 2016 4:33 am 
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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)

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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 @ $625.00 dollars or +12.50 points, Light Crude Oil CL ($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 @ $625.00 dollars

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.

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=2432

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.

-----------------------------

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 Dow Jones Industrial Average (+0.6%) finished ahead of the S&P 500 (+0.5%) and the Nasdaq Composite (+0.5%), but all three indices carved out new all-time closing highs. The benchmark index erased a modest weekly loss as stronger-than-expected earnings results from retail names and a reversal in crude oil spurred a risk rally in the broader market. Other focal points impacting today's trade included a rebound in the dollar and leadership from the heavily-weighted health care (+0.6%), industrial (+0.6%), and consumer discretionary (+1.0%) sectors.

The major averages began the day on a higher note as above-consensus bottom-line results from the likes of Alibaba (BABA 91.77, +4.44), Kohl's (KSS 44.19, +6.15) and Macy's (M 39.81, +5.81) improved investor sentiment. The three names bolstered the consumer discretionary space (+1.0%), which ended among the leaders. Additionally, a rebound in oil futures contributed to a positive bias at the start of today's session.

Crude oil was in focus as investors examined a mixed reading of the International Energy Agency's monthly report and responded to commentary from Saudi Oil Minister Khalid al-Falih. The IEA trimmed its 2017 global oil demand estimate to 1.2 million barrels per day (from 1.3 million barrels), but also stated that it expects the supply overhang to be gone by the end of 2016. Separately, the Saudi oil minister indicated that the current market situation and potential plans to stabilize oil prices would be discussed at the cartel's next meeting on September 26-28. Market participants likely took this news with a grain of salt, remaining skeptical of potential production cuts from the oil collective. Nevertheless, crude oil rallied 4.2% ($43.50/bbl; +$1.74) on the news, likely benefiting from a fair amount of short covering.

The S&P 500 (+0.5%) found resistance near the 2186/2187 price level in the final hour. Nine sectors finished in the green with industrials (+0.6%), health care (+0.6%), consumer discretionary (+1.0%), and energy (+1.3%) leading.

Retail names outperformed in the consumer discretionary space (+1.0%) as the group moved higher in sympathy with Kohl's (KSS 44.19, +6.15) and Macy's (M 39.81, +5.81). Fellow retail name Nordstrom (JWN 47.56, +3.33) rallied 7.5% ahead of this evening's quarterly report. Separately, Netflix (NFLX 95.89, +1.96) jumped 2.1% after a Director disclosed the purchase of 300,000 shares. The purchase is valued at approximately $28.3 million.

In the technology space (+0.5%), software names outperformed as Adobe Systems (ADBE 101.67, +1.05) and Salesforce.com (CRM 81.48, +1.24) moved higher by 1.0% and 1.6%, respectively. The high-beta chipmakers were able to shake early weakness as Cavium Networks (CAVM 50.50, +2.01) topped the PHLX Semiconductor Index (+0.5%).

The heavyweight health care sector (+0.6%) outperformed as biotechnology displayed relative strength. The iShares Nasdaq Biotechnology ETF (IBB 291.91, +3.10) gained 1.1%, narrowing its weekly loss to 1.7%. In the group, Dow component Merck (MRK 63.63, +0.99) gained 1.6%. On the flipside, Valeant Pharmaceuticals (VRX 24.49,- 2.83) underperformed after reports indicated that the Southern District of New York is investigating the company. The investigation allegedly involves the company's prior relationship with Philidor Rx Services.

The U.S. Dollar Index (95.91, +0.26) ended higher as the pound, euro, and yen each lost ground to the greenback. Cable declined by 0.4% (1.2959) while the single currency lost 0.4% against the buck (1.1139). Conversely, the dollar/Canadian dollar slipped 0.6% (1.2984) amid today's rebound in oil futures.

Treasuries settled near session lows as yields rose throughout the complex. The yield on the 10-yr note finished higher by seven basis points at 1.56%.

Today's participation was below the recent average as fewer than 761 million shares changed hands at the NYSE floor.

Today's economic data was limited to weekly initial claims and Import/Export Prices for July:

Initial claims for the week ending August 6 were 266,000 (Briefing.com consensus 266,000) versus a downwardly revised 267,000 (from 269,000) in the prior week.
There were no special factors influencing the initial claims reading, which was below 300,000 for the 75th consecutive week -- the longest streak since 1970
The four-week moving average increased to 262,750 from 259,750
Continuing claims for the week ending July 30 increased by 14,000 to 2.155 million
The four-week moving average is 2.143 million, up 500 from the prior week
Import prices for July increased 0.1% on top of a 0.6% increase in June.
The key difference is that the uptick in July was led by increasing nonfuel prices, which were up 0.3% after declining 0.2% in June.
Import prices fell 3.7% year-over-year and have not recorded a 12-month advance since two years ago when they rose 0.9% between July 2013 and July 2014
Import prices, excluding fuel, were up 0.3% after declining 0.2% in June
On a year-over-year basis, import prices, excluding fuel, are down 1.2%
Export prices for July were up 0.2% after increasing 0.8% in June, led by higher nonagricultural prices
Export prices declined 3.0% year-over-year and have not advanced on a year-over-year basis since August 2014
Excluding agriculture, export prices were up 0.3% on the heels of a 0.5% increase in June
On a year-over-year basis, export prices, excluding agriculture, are down 3.0%

Tomorrow's economic data will include July PPI (Briefing.com consensus 0.0%) and July Retail Sales (Briefing.com consensus +0.4%), which will each cross the wires at 8:30 ET. Separately, the preliminary reading of the Michigan Sentiment Index for August (Briefing.com 90.2) and Business Inventories for June (Briefing.com consensus +0.1%) will be released at 10:00 ET.

3:30 pm: [BRIEFING.COM]

The dollar index was up +0.2% around the 95.87 level, weighing on precious metals
Commodities, as measured by the Bloomberg Commodity Index, +0.9% around the 83.97 level
Crude oil ends near 4-week highs after comments from the Saudi oil minister that he is willing to help stabilize oil prices
September crude oil futures rose $1.74 (+4.2%) to $43.5/barrel
Baker Hughes rig count data will be released tomorrow at 1 pm ET
Next OPEC meeting will take place in Algeria on September 26-28
Natural gas drifted lower after EIA data showed a larger-than-expected build compared to Consensus
September natural gas closed $0.01 lower (-0.4%) at $2.55/MMBtu
In precious metals, gold ends nearly flat while silver trades lower
December gold ended today's session down $1.50 (-0.1%) to $1350.20/oz
September silver closed today's session $0.17 lower (-0.8%) at $20.02/oz
Base metal copper extends yesterday's gains
September copper closed $0.02 higher (+0.9%) at $2.19/lb

3:00 pm:

[BRIEFING.COM] The major averages have inched lower in recent action, leaving the Nasdaq Composite (+0.5%) in-line with the S&P 500 (+0.5%). Separately, the Russell 2000 (+0.6%) paces the broader market.

Nine sectors trade above their flat lines as industrials (+0.7%), consumer discretionary (+1.0%), and energy (+1.6%) lead the pack. The remaining advancers sport gains between 0.4% (telecom services) and 0.6% (health care). Conversely, utilities (-0.2%) underperform while the consumer staples (UNCH) sector flirts with its flat line.

In the technology space (+0.5%), software names outperform as Adobe Systems (ADBE 101.47, +0.85) and Salesforce.com (CRM 81.42, +1.18) gain 0.8% and 1.5%, respectively. Separately, chipmakers shook early weakness as Cavium Networks (CAVM 50.34, +1.85) and Applied Materials (AMAT 26.91, +0.50) top the PHLX Semiconductor Index (+0.4%). The technology sector has advanced 0.3% this week, trading slightly ahead of the benchmark index (+0.5%; week-to-date: +0.2%) over that period.

The U.S. Dollar Index (95.89, +0.23) floats off a session high as the euro, pound, and yen lose ground to the greenback. The euro/dollar pair trades lower by 0.3% (1.1141) while the pound has declined 0.3% against the buck (1.2967). The dollar has gained 0.7% against the yen (101.98) amid today's risk-on posture.

2:30 pm:

[BRIEFING.COM] The three major averages have carved out new all-time intraday highs as the Dow Jones Industrial Average (+0.8%) leads the S&P 500 (+0.6%) and the Nasdaq Composite (+0.6%).

The commodity-sensitive energy sector (+1.6%) leads today's advance as the group responds to a rebound in crude oil futures. WTI crude shows a gain of 4.4% ($43.49/bbl; +$1.78) ahead of its pit session close at 14:30 ET. The energy component erased a modest weekly loss and currently sports a week-to-date gain of 4.0%.

In the sector, refining names outperform as Marathon Petroleum (MPC 42.28, +1.29) and Valero Energy (VLO 54.76, +1.83) jump 3.2% and 3.5%, respectively. Conversely, Dow component Exxon Mobil (XOM 86.80, +0.39) trades behind the broader sector, advancing 0.5%. The energy sector has gained 0.9% this week, leading the remaining sectors.

The Treasury complex has slipped lower in recent action, extending the rise in yields. The yield on the 10-yr note has risen seven basis points to 1.57%. The yield on the benchmark note remains down two basis points from last Friday's settlement at 1.59%.

2:00 pm:

[BRIEFING.COM] The major indices have traded in sideways fashion as the Nasdaq Composite (+0.5%) continues to trade neck-and-neck with the S&P 500 (+0.5%). The two indices sport weekly gains of 0.2% apiece.

The leaderboard remains little changed as countercyclical utilities (-0.3%), consumer staples (UNCH), and telecom services (+0.2%) underperform. Defensively-oriented sectors have garnered little interest in light of today's risk rally.

The consumer staples sector (UNCH) flirts with its flat line as personal product names and food companies pace the group's retreat. Estee Lauder (EL 92.28, -0.63) and Kimberly-Clark (KMB 129.34, -0.90) have declined 0.7% apiece. On the flipside, Reynolds American (RAI 50.09, +0.44) trades higher by 0.9%, trimming its post-earnings loss to 4.2%. The company disappointed investors with its quarterly results on July 26. The broader sector has gained 0.4% this month, trailing the benchmark index (+0.5%; month-to-date: +0.6%) over that period.

On the commodities front, gold ended its day lower by 0.1% ($1,350.20/ozt; -$1.50), narrowing its weekly gain to 0.4%. However, the precious metal sports a year-to-date gain of 27.3%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices continue to sport significant gains as stocks sit near their session highs.

A look inside the Dow Jones Industrial Average shows that Nike (NKE 56.35, +1.22), Chevron (CVX 101.61, +1.67), & Merck (MRK 63.51, +0.87) are outperforming amid broad market strength. Chevron is one of the Dow leaders as crude oil futures surge more than 4%.

Conversely, Wal-Mart (WMT 73.74, -0.21) is the worst-performing Dow component as shares pull back after hitting a new 52-week high earlier in today's session.

For the week, the DJIA is +0.43%, and now +6.9% for the year.

Elsewhere, at the top of the hour, the Treasury's $15 bln 30-year auction drew a high yield of 2.274% on a bid-to-cover of 2.24.

1:10 pm:

[BRIEFING.COM] The stock market trades on a higher note at midday as the major averages respond to the latest round of quarterly earnings results and a rebound in crude oil. Other focal points impacting today's trade have included softening in the dollar and strong sector leadership from the industrial (+0.6%), health care (+0.6%), and consumer discretionary (+0.9%) sectors. The Dow Jones Industrial Average (+0.7%) leads the benchmark index (+0.5%) and the Nasdaq Composite (+0.5%).

Today's session began on a higher note as investors weighed better-than-expected earnings results from the likes of Kohl's (KSS 43.90, +5.86) and Macy's (M 39.90, +5.90). The two department stores rallied in response, adding support to the retail sub-group and the broader market. A rebound in crude oil has also buttressed today's move higher as oil shrugs off a mixed reading of the International Energy Agency's monthly report.

The IEA estimates that global oil demand growth will slow from 1.4 million barrels per day in 2016 to 1.2 million barrels per day in 2017. This compares to its prior outlook, which projected next year's global demand growth at 1.3 million barrels per day. The organization believes that the supply overhang will be gone by the end of this year. WTI crude currently trades higher by 4.4% ($43.56/bbl; +$1.86), erasing yesterday's 2.3% loss. For the week, the energy component sports an advance of 4.1%.

The benchmark index is on pace to notch a new all-time closing high, testing resistance near the 2186/2187 price level. Nine sectors currently trade in positive territory with industrials (+0.6%), health care (+0.6%), consumer discretionary (+0.9%), and energy (+1.6%) leading the pack. Conversely, defensively-oriented utilities (-0.2%) underperform amid rising Treasury yields.

Retail names outperform in the consumer discretionary space (+0.9%) as the group gains alongside Kohl's (KSS 43.90, +5.86) and Macy's (M 39.90, +5.90). The SPDR S&P Retail ETF (XRT 45.11, +0.92) has jumped 2.1%, sporting a weekly gain of 0.6%. Separately, influential Netflix (NFLX 95.86, +1.93) has climbed 2.1% after a Director disclosed the purchase of 300,000 shares. The purchase is valued at approximately $28.3 million. The broader sector shows a gain of 0.5% for the week, leading the benchmark index (+0.5%; week-to-date: +0.2%).

The Dow Jones Transportation Average (+0.7%) outperform as airlines rebound. The U.S. Global Jets ETF (JETS 22.39, +0.26) has jumped 1.2%, narrowing yesterday's 0.8% loss. In the group, Alaska Air (ALK 66.46, +1.62) leads after providing improved third-quarter fuel cost and consolidated income guidance. The Transportation Average has slipped 0.1% this week, which compares to a week-to-date gain of 0.6% in the broader industrial sector (+0.6%).

The countercyclical health care space (+0.6%) demonstrates relative strength as biotechnology outperforms. The iShares Nasdaq Biotechnology ETF (IBB 292.53, +3.72) has jumped 1.3%, narrowing its week-to-date loss to 1.6%. In the group, Dow component Merck (MRK 63.53, +0.89) has gained 1.4% as it trades ahead of the price-weighted index. On the flipside, Valeant Pharmaceuticals (VRX 24.91, -2.41) has tumbled 8.8% after reports indicated that the Southern District of New York is investigating the company. The investigation reportedly involves the company's prior relationship with Philidor Rx Services.

The U.S. Dollar Index (95.79, +0.14) sports a modest gain as the euro, yen, and pound lose ground against the buck. The euro/dollar pair has ticked lower by 0.3% (1.1151) while cable has declined 0.4% (1.2963). Separately, the dollar has gained 0.4% against the safe-haven yen (101.73).

Treasuries hover near session lows as yields rise through the curve. The yield on the 10-yr note has risen five basis points to 1.55%.

Today's economic data was limited to weekly initial claims and Import/Export Prices for July:

Initial claims for the week ending August 6 were 266,000 (Briefing.com consensus 266,000) versus a downwardly revised 267,000 (from 269,000) in the prior week.
There were no special factors influencing the initial claims reading, which was below 300,000 for the 75th consecutive week -- the longest streak since 1970
The four-week moving average increased to 262,750 from 259,750
Continuing claims for the week ending July 30 increased by 14,000 to 2.155 million
The four-week moving average is 2.143 million, up 500 from the prior week
Import prices for July increased 0.1% on top of a 0.6% increase in June.
The key difference is that the uptick in July was led by increasing nonfuel prices, which were up 0.3% after declining 0.2% in June.
Import prices fell 3.7% year-over-year and have not recorded a 12-month advance since two years ago when they rose 0.9% between July 2013 and July 2014
Import prices, excluding fuel, were up 0.3% after declining 0.2% in June
On a year-over-year basis, import prices, excluding fuel, are down 1.2%
Export prices for July were up 0.2% after increasing 0.8% in June, led by higher nonagricultural prices
Export prices declined 3.0% year-over-year and have not advanced on a year-over-year basis since August 2014
Excluding agriculture, export prices were up 0.3% on the heels of a 0.5% increase in June
On a year-over-year basis, export prices, excluding agriculture, are down 3.0%

12:30 pm:

[BRIEFING.COM] The broader market remains near its best level of the day as the S&P 500 (+0.5%) continues to test technical resistance near the 2186/2187 price level. The benchmark index trades one point off its session high.

The countercyclical health care sector (+0.6%) has ticked higher in recent action as biotechnology outperforms. The iShares Nasdaq Biotechnology ETF (IBB 292.13, +3.32) trades higher by 1.2%, narrowing yesterday's 2.0% decline. Heavyweight Biogen (BIIB 313.89, +5.02) outperforms in the ETF, advancing 1.6%. Conversely, Valeant Pharmaceuticals (VRX 24.70, -2.61) trades lower by 9.5% following reports of a criminal investigation by the Southern District of New York. The investigation is reportedly centered on the company's prior relationship with Philidor Rx Services.

In the broader sector, health care plan names underperform as Cigna (CI 127.15, -0.45) and Aetna (AET 119.20, -0.33) lose 0.3% apiece.

On the commodities front, WTI crude trades higher by 4.7% ($43.64/bbl; +$1.93) while gold has ticked higher by 0.1% to $1,352.80/ozt.

12:00 pm:

[BRIEFING.COM] The Dow Jones Industrial Average (+0.7%) and the S&P 500 (+0.5%) hover near fresh session highs. The price-weighted index recently notched a new all-time intraday high (18631.26).

The Dow Jones Transportation Average (+0.7%) displays relative strength as airline names rebound. Alaska Air (ALK 66.33, +1.49) paces the advance after updating its third-quarter fuel cost guidance and third-quarter consolidated income outlook. The airline sees fuel per gallon costs at $1.54 (prior: $1.62) while consolidated non-operating income is expected to total $3 million (prior: ~$2 million). The broader U.S. Global Jets ETF (JETS 22.24, +0.11) trades higher by 0.5%, trimming yesterday's 0.8% decline.

The U.S. Dollar Index (95.69, +0.04) hovers above its flat line as the euro, yen, and pound continue to show losses against the buck. The single currency has ticked lower by 0.1% against the greenback (1.1171) while cable has declined 0.4% (1.2963). Separately, the dollar has gained 0.2% against the safe-haven yen (101.45).

11:30 am:

[BRIEFING.COM] The major U.S. indices hover off their best levels of the day as the Dow Jones Industrial Average (+0.6%) leads the S&P 500 (+0.4%) and the Nasdaq Composite (+0.3%).

The heavyweight technology (+0.4%) and health care (+0.4%) sectors have ticked higher in recent action, pacing the advance in the broader market.

In the technology space (+0.4%), the high-beta chipmakers display relative weakness, evidenced by the 0.2% gain in the PHLX Semiconductor Index. In the group, Taiwan Semiconductor (TSM 29.02, -0.20) underperforms after yesterday's intraday announcement, which revealed a 5.6% year-over-year decline in July revenue. The stock has slipped 1.3% since the announcement, trimming its weekly advance to 0.8%.

In the broader sector, Dow component IBM (IBM 164.24, +2.16) has gained 1.3%, outperforming the price-weighted index. Conversely, fellow tech large cap Alphabet (GOOG 783.45, -1.23) displays relative weakness.

On the commodities front, WTI crude trades higher by 3.4% ($43.13/bbl; +$1.42), erasing yesterday's 2.3% decline. For the week, the energy component sports a gain of 3.1%.

11:00 am:

[BRIEFING.COM] The Dow Jones Industrial Average (+0.6%) and the S&P 500 (+0.5%) have each carved out fresh session highs. The move higher in the broader market was buttressed by the financial sector (+0.2%) erasing a slim loss.

The economically-sensitive financial sector (+0.2%) trades behind the benchmark index as the space climbs into positive territory for the year (+0.1%). Real estate investment trusts underperform in the group as Simon Properties (SPG 214.52, -4.46) and General Growth (GGP 29.91, -0.80) decline by 2.1% and 2.6%, respectively. The move lower coincides with news that Macy's (M 39.21, +5.20) plans to close 100 full-line stores, amounting to approximately 14.0% of the retailer's full-line locations. For the week, the sector sports a loss of 0.4%, trailing the remaining sectors except for health care (+0.4%; week-to-date: -0.6%).

Treasuries carved out fresh lows in recent action as yields continue to rise throughout the complex. The yield on the benchmark 10-yr note has risen three basis points to 1.53% while the yield on the 2-yr note has risen one basis point (0.69%).

10:30 am: [BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, +0.7% around the 83.85 level
Crude oil rallied on the heels of the monthly IEA report
September crude oil futures were up $0.94 (+2.3%) around $42.65/barrel
Natural gas drifted lower after EIA data showed a larger-than-expected build
September natural gas futures are down about $0.01 (-0.2%) at $2.56/MMBtu
Natural gas inventory showed a build of +29 bcf vs expectations for inventory to be a build of +21 bcf.
Working gas in storage was 3,317 Bcf as of Friday, Aug 5, 2016, according to EIA estimates.
Stocks were 361 Bcf higher than last year at this time and 440 Bcf above the five-year average of 2,877 Bcf.
At 3,317 Bcf, total working gas is above the five-year historical range.
In precious metals, gold & silver continued yesterday's rally as the dollar index trades nearly flat
December gold futures are up $4.90 (+0.4%) at $1357.80/oz
September silver futures are up $0.06 (+0.3%) around $20.23/oz

10:00 am:

[BRIEFING.COM] The major averages hover off their best levels of the day as the Nasdaq Composite (+0.5%) continues to lead the S&P 500 (+0.3%). The benchmark index trades two points below its session high.

The influential technology sector (+0.5%) displays relative strength as Yahoo! (YHOO 41.32, +1.39) outperforms. The name is trading higher in sympathy with Alibaba (BABA 91.52, +4.19), which reported better-than-expected earnings results ahead of today's open. Elsewhere, top-weighted Apple (AAPL 108.70, +0.70) has gained 0.7%, extending its weekly advance to 1.2%. This compares to a gain of 0.3% in the broader technology sector over that same time.

The U.S. Dollar Index (95.68, +0.03) has inched lower in recent action as the greenback extends its losses against commodity currencies. The dollar/Canadian dollar pair trades lower by 0.3% (1.3022), slipping from the 1.3040 price level at the start of the session. Conversely, the euro has lost 0.1% against the dollar (1.1167) while the pound has declined 0.2% against the buck (1.2982).

9:45 am:

[BRIEFING.COM] The stock market began the day on a higher note with the Nasdaq Composite (+0.5%) leading the S&P 500 (+0.4%) and the Dow Jones Industrial Average (+0.4%).

Eight sectors trade in the green as energy (+0.4%), industrials (+0.4%), and consumer discretionary (+0.9%) lead the pack. The remaining gainers sport upticks between 0.1% (materials) and 0.4% (consumer staples). On the flipside, heavily-weighted financials (-0.1%) and countercyclical utilities (-0.1%) sport the only losses.

Retail names demonstrate relative strength as the sub-group moves higher in sympathy with Kohl's (KSS 43.99, +5.95) and Macy's (M 39.62, +5.60). The two names reported above-consensus bottom line results ahead of today's open. The broader SPDR S&P Retail ETF (XRT 45.45, +1.26) has gained 2.9%.

In the financial sector (-0.1%), banking names underperform with JPMorgan Chase (JPM 65.22, -0.06) and Wells Fargo (WFC 48.02, -0.16) trading lower by 0.1% and 0.3%, respectively.

On the commodities front, WTI crude trades higher by 0.7% ($42.03/bbl, +$0.32) while gold inched lower by 0.1% to $1,351.50/ozt.

9:20 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +15.60.

The stock market is on track for a higher open as the S&P 500 futures float six points above fair value.

Equity futures rose lockstep with European bourses as investors ruminated over better-than-expected earnings results on both sides of the pond. Retailers have been in focus this morning as positive results from Kohl's (KSS 41.85, +3.81) and Macy's (M 38.98, +4.98) boost the broader SPDR S&P Retail ETF (XRT 45.15, +0.96). Oil futures also remain in focus as the market shrugs off the International Energy Agency's monthly report. The IEA cut its 2017 demand estimates, projecting that global demand will total 1.2 million barrels per day. This compares to prior estimates, which had next year's demand pegged at 1.3 million barrels per day. WTI crude currently trades higher by 0.4% ($41.89/bbl; +$0.18).

The U.S. Dollar Index (95.73, +0.08) continues to sport a modest gain as the greenback advances against the euro and the pound. The single currency has declined 0.2% against the dollar (1.1153) while sterling has lost 0.3% against the buck (1.2978). On the flipside, commodity currencies have gained against the greenback as the dollar/Canadian dollar pair slides 0.2% to 1.3037.

In company specific news, Alibaba (BABA 92.26, +4.93) trades higher by 5.7% after beating top- and bottom-line estimates for the quarter. The company reported that revenue from its retail marketplace division rose 49.0% year-over-year. Yahoo! (YHOO 41.48, +1.55) has moved higher in sympathy with the name. Separately, Chesapeake Energy (CHK 5.10, +0.30) has gained 6.3% in pre-market trading after announcing plans to renegotiate its mid-continent gas gathering agreement and offering its production growth outlook for 2017. The natural gas name also revealed plans to exit its Barnett Shale operations.

Weekly initial claims declined to 266,000 from last week's revised rate of 269,000 (from 267,000), which is what the Briefing.com consensus expected. Separately, Import prices, excluding oil, increased 0.5% in July while export prices, excluding agriculture, increased 0.3%.

There is no further economic data slated to be released today.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +13.90.

The S&P 500 futures trade five points above fair value.

Equity indices in the Asia-Pacific region ended Thursday on a mostly higher note while Japan's Nikkei was closed in observance of Mountain Day. Elsewhere, the Reserve Bank of New Zealand cut its key rate by 25 basis points to 2.00%, leading to some fireworks in the foreign exchange market as the New Zealand dollar spiked 150 pips against the dollar to a 15-month high (0.7344) before retracing half of its overnight climb. The central bank noted that additional easing will likely be needed, but market participants did not sense enough urgency in the statement, leading to the rally in the kiwi. For its part, the Reserve Bank of Korea held its key rate at 1.25%, as expected.

In economic data:
Singapore's Q2 GDP +0.3% quarter-over-quarter (expected 0.8%; last 0.8%); +2.1% year-over-year (consensus 2.2%; last 2.2%)
Australia's MI Inflation Expectations ticked down to 3.5% from 3.7%
New Zealand's FPI -0.2% month-over-month (last 0.4%)

---Equity Markets---

Japan's Nikkei was closed for Mountain Day
Hong Kong's Hang Seng climbed 0.4% with financials contributing to the strength. Ping An Insurance, ICBC, China Construction Bank, Bank of China, and HSBC posted gains between 0.6% and 2.4%. Select property names lagged with Henderson Land, Cheung Kong Property Holdings, and Sino Land falling between 1.2% and 1.9%.
China's Shanghai Composite surrendered 0.5%. Shanghai Construction Group, Shanghai Industrial Development, and Xiamen Tungsten lost between 4.0% and 4.5%.

Major European indices trade mostly higher while UK's FTSE (-0.2%) lags. Homebuilders have contributed to the weakness in the FTSE after the RICS House Price Balance declined to 5.0% from 15.0% (expected 6.0%), showing the fastest decline in the pace of transactions since 2008.

In economic data:
UK's July RICS House Price Balance 5.0% (expected 6.0%; last 15.0%)
France's July CPI -0.4% month-over-month, as expected (last -0.4%)
Italy's July CPI 0.2% month-over-month, as expected (previous 0.2%); -0.1% year-over-year (consensus -0.1%; last -0.1%)

---Equity Markets---

UK's FTSE is lower by 0.3% with homebuilders Taylor Wimpey, Barratt Developments, and Persimmon down between 1.8% and 2.3%. Several consumer names also lag with Diageo, Morrison Supermarkets, Tesco, Next, and Burberry down between 0.6% and 1.1%.
Germany's DAX has climbed 0.5% with help from most components. RWE has spiked 3.4% while heavyweights BASF, Siemens, Volkswagen, and Merck show gains between 0.9% and 1.3%. On the downside, Commerzbank and Deutsche Bank are both down near 0.5%.
France's CAC trades up 0.7% amid strength in consumer stocks. Pernod Ricard, L'Oreal, Danone, and Louis Vuitton have added between 1.0% and 2.2%. Steelmaker ArcelorMittal is the weakest performer, shedding 0.6%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +14.00.

Futures ticked higher in recent action as the S&P 500 futures float six points above fair value.

Just released, the latest weekly initial jobless claims count totaled 266,000, in-line with the the Briefing.com consensus. Today's tally compared to 267,000 in the prior week. As for continuing claims, they rose to 2.155 million from 2.141 million (revised from 2.138 million).

Separately, Import prices excluding oil increased 0.5% in July after falling 0.3% in June while export prices excluding agriculture increased 0.3% in July after increasing 0.5% in June.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +14.60.

U.S. equity futures trade on a higher note as the S&P 500 futures float five points above fair value. Index futures gained overnight as investors pore through the latest batch of quarterly earnings reports. Department stores have been in focus this morning as positive quarterly results from Kohl's (KSS 41.80, +3.76) boost the retail sub-group. Participants are also waiting to hear results from the likes of Macy's (M 35.00, +1.00). Separately, the commodity complex remains in focus as WTI crude struggles to recover from yesterday's 2.3% decline. The energy component has been under pressure after the International Energy Agency cut its global demand forecast for 2017. The IEA now projects that global demand growth will reach 1.2 million barrels per day next year (prior estimate: 1.3 million barrels). At this juncture, WTI crude trades lower by 0.2% ($41.62/bbl, -$0.09).

Treasuries trades on a lower note as yields gain across the curve. The yield on the benchmark 10-yr note has risen two basis points to 1.52%.

On the economic front, data will include weekly initial claims (Briefing.com consensus 266k) and Import/Export Prices for July, which will each cross the wires at 8:30 ET.

In U.S. corporate news of note:

Kohl's (KSS 41.80, +3.76): +9.9% after beating bottom-line estimates for the quarter on in-line revenue
Valeant Pharmaceuticals (VRX 24.61, -2.71): -9.9% following reports that the company is being investigated regarding its relationship with Philidor Rx Services LLC
Shake Shack (SHAK 37.70, -3.17): -7.8% after reporting weaker-than-expected same-store sales
Alibaba (BABA 91.20, +3.87): +4.4% following the company topping analysts' estimates for the quarter

Reviewing overnight developments:

Asia-Pacific indices ended Thursday on a mixed note with China's Shanghai Composite (-0.5%) and Hong Kong's Hang Seng (+0.4%). Meanwhile, Japan's Nikkei was closed for Mountain Day.
In economic data:
Singapore's Q2 GDP +0.3% quarter-over-quarter (expected 0.8%; last 0.8%); +2.1% year-over-year (consensus 2.2%; last 2.2%)
Australia's MI Inflation Expectations ticked down to 3.5% from 3.7%
New Zealand's FPI -0.2% month-over-month (last 0.4%)
In news:
The Reserve Bank of New Zealand cut its key rate by 25 basis points to 2.00% 0
The central bank noted that additional easing will likely be needed, but market participants did not sense enough urgency in the statement.
As a result, the New Zealand dollar spiked 150 pips against the dollar to a 15-month high (0.7344) before retracing half of its overnight climb.
Elsewhere, the Reserve Bank of Korea held its key rate at 1.25%, as expected.

European indices trade on a mostly higher note with France's CAC (+0.7%) leading Germany's DAX (+0.5%) and the U.K.'s FTSE (-0.2%).
In economic data:
UK's July RICS House Price Balance 5.0% (expected 6.0%; last 15.0%)
France's July CPI -0.4% month-over-month, as expected (last -0.4%)
Italy's July CPI 0.2% month-over-month, as expected (previous 0.2%); -0.1% year-over-year (consensus -0.1%; last -0.1%)
In news:
Homebuilders have contributed to the weakness in the FTSE after the RICS House Price Balance declined to 5.0% from 15.0% (expected 6.0%).
This represents the fastest decline in the pace of transactions since 2008.

6:00 am: [BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +12.90.

6:00 am: [BRIEFING.COM] Nikkei...Holiday......... Hang Seng...22580.55...+88.10...+0.40%.

6:00 am: [BRIEFING.COM] FTSE...6844.96...-21.50...-0.30%. DAX...10712.90...+62.00...+0.60%.

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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