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 Post subject: September 7th Wednesday Trade Results - Profit $375.00
PostPosted: Thu Sep 08, 2016 3:47 am 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3139
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab 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
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090716-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+375.00.png [ 92.13 KiB | Viewed 20 times ]

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 @ $375.00 dollars or +7.50 points, Light Crude Oil CL ($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 @ $375.00 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 for anyone to do a real-time review. 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 review 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=160&t=2453

Image ##TheStrategyLab Chat Room is free. 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 TheStrategyLab 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 TheStrategyLab 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. TheStrategyLab 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 via removing trouble makers so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell. TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

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 for you to review 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 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=302&t=3259 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 for easy review 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 a quiet midweek session on a flat note as participants employed some caution ahead of tomorrow's policy statement from the European Central Bank. The tech-heavy Nasdaq (+0.2%) settled slightly ahead of the S&P 500 (UNCH) and the Dow Jones Industrial Average (-0.1%).

The major averages rose at the start of the session, responding to a positive bias in European markets. Regional bourses ended in the green as investors examined a mixed set of economic data ahead of tomorrow's policy decision from the ECB. The central bank is scheduled to release its September rate decision at 7:45 ET while ECB President Draghi is scheduled to offer remarks at 8:30 ET.

Equity indices pulled back after the first hour as some strengthening in the U.S. Dollar Index (94.97, +0.15, +0.16%) weighed on dollar-denominated oil and the broader market. The greenback benefited from some softening in sterling, following accommodative remarks from Bank of England Governor Mark Carney. Mr. Carney addressed parliament today, indicating that post-Brexit recession risks have receded. However, the BoE governor went on to note that the central bank has further room to maneuver monetary policy, if needed.

The benchmark index found support near its 20-day simple moving average (2180.21), climbing off that level for the remainder of the session. Six sectors ended in the green with technology (+0.2%), telecom services (+0.2%), and energy (+0.3%) outperforming. Conversely, materials (-0.1%), health care (-0.1%), and consumer staples (-0.9%) led to the downside.

The influential technology sector (+0.2%) finished ahead of the broader market as top-weighted Apple (AAPL 108.38, +0.68) outperformed. The Dow component jumped 0.6% after unveiling the iPhone 7 and a new iteration of the Apple Watch. Meanwhile, fellow heavyweight Facebook (FB 131.05, +1.32) rose 1.0% after Morgan Stanley issued some bullish commentary on the name. Conversely, the high-beta chipmakers underperformed, evidenced by the 0.7% decline in the PHLX Semiconductor Index.

In the energy sector (+0.3%), refining names outperformed ahead of this evening's inventory report from the American Petroleum Institute. Phillips 66 (PSX 79.59, +0.48) and Valero Energy (VLO 56.09, +0.82) ended higher by 0.6% and 1.5%, respectively. The Department of Energy's more influential inventory report will be released tomorrow morning at 11:00 a.m. ET. For its part, WTI crude ended its pit session higher by 1.4% ($45.48/bbl; +$0.63).

Biotechnology led in the health care space (-0.1%) as the iShares Nasdaq Biotechnology ETF (IBB 286.10, +2.01) ended higher by 0.7%. In the ETF, Gilead Sciences (GILD 78.22, +0.34) outperformed after noting that it continues to examine potential M&A options, but would prefer to partner with a more mature company with a revenue stream. Meanwhile, Valeant Pharmaceuticals (VRX 30.27, +0.80) and Progenics Pharmaceuticals (PGNX 6.34, +0.18) gained after the two unveiled the first FDA approved Relistor tablets for commercial sale in the United States.

In the consumer staples space (-0.9%), grocery store names weighed as the sub-group moved lower in sympathy with Sprouts Farmers Market (SFM 19.68, -3.13). The stock was under pressure after cutting its third-quarter and full-year guidance. Kroger (KR 31.32, -1.35) and Whole Foods (WFM 29.08, -1.62) fell in sympathy with the name, declining 4.1% and 5.3%, respectively.

Treasuries ended on a flat note with yields little changed through the curve. The yield on the 2-yr note ended flat (0.73%) while the yield on the 10-yr note settled lower by one basis point (1.53%).

Today's participation was below the recent average as fewer than 803 million shares changed hands on the NYSE floor.

Today's economic data included the weekly MBA Mortgage Index and the July Job Openings and Labor Turnover Survey:

The MBA Mortgage Index showed that mortgage applications increased 0.9% in the week ending September 3. This followed a 2.8% gain in the prior week.
The July Job Openings and Labor Turnover Survey showed that job openings came in at 5.871 million from a revised 5.643 million (from 5.624 million) in June.

Tomorrow's economic data will include weekly initial claims (Briefing.com consensus 265k) and Consumer Credit for July (Briefing.com consensus $16.0 billion), which will cross the wires at 8:30 ET and 15:00 ET, respectively.

Russell 2000: +11.0% YTD
S&P 500: +7.0% YTD
Dow Jones: +6.3% YTD
Nasdaq Composite: +5.5% YTD

3:30 pm: [BRIEFING.COM]

The dollar index was +0.1% around the 94.95 level after yesterday's -1.1% decline, weakening precious metals
Commodities, as measured by the Bloomberg Commodity Index, were up +0.7% around the 83.93 level
Crude oil saw notable volatility for the second consecutive session ahead of tomorrow's EIA inventory data
October crude oil futures rose $0.63 (+1.4%) to $45.48/barrel
Contributing factors affecting the price of oil include:
Yesterday, Iran's President came out with comments in support of measures to aid in an oil price recovery
Non-OPEC producer Russia & Saudi Arabia (the two largest producers in the world collectively responsible for ~20% of global oil production) agreed to form a coalition to track oil markets and recommend action to OPEC members, announced after the G-20 Summit
Saudi Arabian oil minister has stated that he does not see the need for a production freeze at current price levels after the G-20 announcement
The next OPEC meeting will take place in Algiers, Algeria from Sept 26-28
China released data on its strategic petroleum reserves, totalled 31.97 mln tons equal to 33-36 days of China's imports, China notes they have been stockpiling oil in anticipation of a future oil price recovery
Upcoming Data:
API data will be released today after the bell
EIA petroleum data will be released tomorrow at 11:00 am ET, 30 min after natural gas inventory data
Monthly IEA data will be released Sept 13
Natural gas extended yesterday's losses ahead of tomorrow's inventory number
October natural gas closed $0.04 lower (-1.5%) at $2.68/MMBtu
EIA natural gas inventory data will be released tomorrow at 10:30 am ET
In precious metals, gold & silver ended near session lows as the dollar inched higher
December gold ended today's session down $4.90 (-0.4%) to $1349.00/oz
December silver closed today's session $0.28 lower (-1.4%) at $19.85/oz
Base metal copper closed pit trading modestly higher for the day
December copper closed $0.01 higher (+0.5%) at $2.10/lb

2:55 pm:

[BRIEFING.COM] The S&P 500 continues to traverse a narrow ten-point trading range, sporting a 0.1% loss.

Six sectors trade in the red with countercyclical health care (-0.2%) and consumer staples (-0.8%) leading the downside. Conversely, industrials (+0.1%), telecom services (+0.2%), and energy (+0.3%) outperform.

The industrial sector (+0.1%) floats above its flat line as Caterpillar (CAT 83.38, +1.30) gains 1.6%. The stock is trading higher after being initiated with a "Buy" designation at Deutsche Bank. Separately, Cummins (CMI 119.99, +3.05) has gained 2.6% after falling 7.3% in the prior session. The stock was under pressure as participants ruminated over the potential for increased competition from Navistar (NAV 19.07, -0.71). Navistar announced a strategic alliance with Volkswagen Truck & Bus yesterday.

Treasuries trade lower with yields inching higher through the curve. The yield on the benchmark 10-yr note is higher by one basis point at 1.54%.

WTI crude ended its pit session higher by 1.4% ($45.48/bbl; +$0.63) ahead of this evening's inventory data from the American Petroleum Institute.

2:30 pm:

[BRIEFING.COM] The major averages continue to inch of their lows with the S&P 500 narrowing its loss to 0.1%.

The just-released Federal Reserve Beige Book for September described overall economic activity across the twelve Fed Districts as expanding at a modest pace. The Fed reported that demand for nonfinancial services increased slightly while manufacturing activity also rose slightly in most districts. Residential real estate markets grew at a moderate pace, but the pace was limited by a shortage of available homes. The Federal Reserve also noted that demand for business and consumer credit expanded moderately with stable credit quality.

On the employment front, labor market conditions remained tight in most districts, creating some upward pressure on wages. This should be welcome news as the Fed continues to eye persistently low inflation. On that note, price inflation remained modest across most districts. Investors will receive two inflation readings next week with PPI and CPI for August scheduled to be released on September 15 and 16, respectively.

On the commodities front, WTI crude trades higher by 1.3% ($45.44/bbl; +$0.60) ahead of its pit session close at 14:30 ET.

2:00 pm:

[BRIEFING.COM] The major averages have traded sideways since the last update.

The heavily-weighted technology sector (UNCH) floats under its flat line as large cap component Apple (AAPL 107.33, -0.37) sports a loss of 0.4%. The tech giant recently unveiled the iPhone 7 and announced a new iteration of the Apple Watch. The stock rallied briefly after the event began, but is now back in the neighborhood of its session low. Separately, Nintendo (NTDOY 34.43, +6.23) spiked following the announcement that Super Mario Run will be coming to the App Store and that a version of its Pokemon Go game will be compatible with the Apple Watch. The stock surged 22.0% following the announcement.

The PHLX Semiconductor Index (-0.8%) trades near its session low as Apple suppliers Qorvo (QRVO 55.43, -0.58) and Skyworks (SWKS 71.80, -1.21) trade behind the price-weighted index.

The Fed's Beige Book for September will cross the wires at 14:00 ET and the release will be summarized in our next update.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have trimmed some of their afternoon losses, but still sit modestly in negative territory at this time.

A look inside the Dow Jones Industrial Average shows that Home Depot (HD 132.50, -1.60), Wal-Mart (WMT 72.17, -0.83), & Merck (MRK 62.71, -0.53) are underperforming. Wal-Mart is among the Dow's biggest laggards as grocery-related peers pull back following a guidance reduction from Sprouts Farmers Market (SFM 19.85, -2.96).

Conversely, Caterpillar (CAT 83.47, +1.39) is the best-performing Dow component after being initiated with a Buy rating at Deutsche Bank.

Near unchanged for the week, the DJIA is currently +0.52% for the month.

1:00 pm:

[BRIEFING.COM] The stock market has endured a quiet first half of trade as the Dow Jones Industrial Average (-0.2%) trades neck-and-neck with the S&P 500 (-0.2%) and the Nasdaq Composite (-0.2%).

The major averages began the day on a choppy note with investors eyeing a largely uneventful overseas session. Japan's Nikkei (-0.4%) led to the downside as reports indicated that Bank of Japan officials remain split on the future path and shape of fiscal policy. Separately, European bourses settled in the green as participants examined mixed economic data ahead of tomorrow's policy statement from the European Central Bank. The ECB will release its September rate decision at 7:45 ET while ECB President Draghi is slated to deliver remarks at 8:30 ET.

Equities carved out session highs within the first hour of trade as the benchmark index tested technical resistance near the 2185/2187 price level. However, the index was unable to clear that price level and erased modest gains, falling to support near its 20-day simple moving average (2179.96). The pullback in equities took place with a transitory decline in crude oil futures. WTI crude fell to the $44.60/bbl price as a rebound in the U.S. Dollar Index (95.02, +0.20, +0.21%) weighed. The energy component currently trades higher by 1.4% ($45.44/bbl; +$0.61).

The S&P 500 (-0.2%) floats off its worst level of the day, maintaining support near its 20-day simple moving average. Eight sectors trade in the red with materials (-0.4%) and consumer staples (-1.0%) acting as notable laggards. The remaining decliners show losses between 0.1% (technology) and 0.2% (health care). Conversely, commodity-sensitive energy (+0.1%) leads the pack.

In the consumer staples space (-1.0%), grocery store names underperform as the sub-group moves lower in sympathy with Sprouts Farmers Market (SFM 19.86, -2.94). The name has been under pressure after cutting its third-quarter and full-year guidance. Costco (COST 155.60, -2.46), Kroger (KR 31.22, -1.45), and Whole Foods (WFM 29.06, -1.64) have each lost between 1.6% and 5.3%.

The heavily-weighted health care sector (-0.2%) shook early strength as the group pulls back from yesterday's 0.4% gain. Biotechnology continues to outperform as Gilead Sciences (GILD 78.07, +0.13) gains 0.2%. The sub-group is also benefiting from the news that Valeant Pharmaceuticals (VRX 30.08, +0.60) and Progenics Pharmaceuticals (PGNX 6.29, + 0.13) have launched the first FDA approved, commercially available, Relistor tablets in the United States.

Top-weighted Apple (AAPL 107.34, -0.35) underperforms in the technology space (-0.1%) ahead of the company's special event. The tech giant is expected to reveal the iPhone 7 today with keynote remarks scheduled for 1:00 p.m. ET. Separately, the high-beta chipmakers underperform with the PHLX Semiconductor Index slipping 0.8%. The price-weighted index has declined 1.0% this week, trailing the broader sector (-0.2%; week-to-date: +0.3%) over that time.

The commodity-sensitive energy sector (+0.1%) displays relative strength as pipeline companies and refining names outperform. Phillips 66 (PSX 79.74, +0.63) and Valero Energy (VLO 55.87, +0.59) trade higher by 0.8% and 1.1%, respectively. Separately, Dow component Exxon Mobil (XOM 88.12, -0.45) trades behind the price-weighted index. As a reminder, this week's inventory report from the Department of Energy will be released tomorrow at 11:00 a.m. ET.

Treasuries trade on a lower note with the long end of the curve demonstrating relative weakness. The yield on the 10-yr note has increased one basis point (1.54%) while the yield on the 2-yr note is flat (0.73%).

Today's economic data included the weekly MBA Mortgage Index and the July Job Openings and Labor Turnover Survey:

The MBA Mortgage Index showed that mortgage applications increased 0.9% in the week ending September 3. This followed a 2.8% gain in the prior week.
The July Job Openings and Labor Turnover Survey showed that job openings came in at 5.871 million from a revised 5.643 million (from 5.624 million) in June.

The Fed's Beige Book for September will be released at 14:00 ET.

12:25 pm:

[BRIEFING.COM] The S&P 500 (-0.3%) and the Nasdaq Composite (-0.2%) have each notched new session lows in recent trade.

The heavily-weighted health care space (-0.1%) treads water, masking relative strength in the biotechnology sub-group. The iShares Nasdaq Biotechnology ETF (IBB 285.34, +1.25) has gained 0.4% as Gilead Sciences (GILD 78.25, +0.37) outperforms. The stock trades up 0.5% after the company presented at Citi's 11th Annual Biotech Conference. Gilead Sciences noted that it continues to examine potential M&A options, indicating that it would prefer to partner with a more mature company with a revenue stream. Meanwhile, Valeant Pharmaceuticals (VRX 30.21, +0.74) trades higher by 2.5% after the company and Progenics Pharmaceuticals (PGNX 6.29, + 0.13) unveiled the first commercially available, FDA-approved, Relistor tablets in the United States.

The U.S. Dollar Index (95.02, +0.20, +0.21%) floats near its session high as the euro and the pound extend losses against the greenback. The euro/dollar pair trades lower by 0.2% (1.1235) while sterling has declined 0.8% against the buck (1.3331).

12:05 pm:

[BRIEFING.COM] The broader market has traded in sideways fashion as the S&P 500 sports a loss of 0.2%.

The countercyclical consumer staples (-1.0%) sector rounds out the leaderboard as processed food names and grocery store chains weigh. General Mills (GIS 68.33, -2.56) has declined by 3.6% after reaffirming its fiscal targets for fiscal year 2017. However, the company expects first-quarter organic net sales growth will be below its full-year guidance range while first-quarter earnings are expected below last year's level. The company is slated to deliver its quarterly report on September 21. Separately, Kroger (KR 32.28, -1.38) and Whole Foods (WFM 29.16, -1.55) remain pressured after Sprouts Farmers Market (SFM 19.79, -3.01) cut its outlook for the third quarter and the full year.

Personal product names also demonstrate relative weakness as Estee Lauder (EL 88.42,- 1.05), Kimberly-Clark (KMB 127.18, -1.16), and Colgate-Palmolive (CL 73.64, -1.33) lose between 0.9% and 1.8%.

Treasuries trade on a mostly lower note with yields rising through the curve. The yield on the 10-yr note has increased to 1.54% (+1 bps).

11:30 am:

[BRIEFING.COM] The stock market recently notched a fresh session low as the Dow Jones Industrial Average (-0.3%) trades behind the S&P 500 (-0.2%). Elsewhere, the domestically-oriented Russell 2000 (+0.2%) outperforms.

The commodity-sensitive energy sector (-0.1%) has erased its opening gain, pulling back alongside the broader market and crude oil futures. WTI crude trades higher by 0.2% ($44.91/bbl; +$0.08) after slipping from the $45.15/bbl price level at the start of the session. The dollar-denominated commodity has been under pressure amid an uptick in the U.S. Dollar Index (94.94, +0.12, +0.13%).

Oil field service names demonstrate relative weakness as investors mull commentary from the Barclays CEO Energy-Power Conference. Baker Hughes (BHI 49.11, -0.85) trades lower by 1.7% after stating that oil price recovery remains dampened by the ability of shale producers to quickly ramp up production. Baker Hughes also commented that its North American activity remains limited to core acreage with oil maintaining a range in the high $40's and low $50's. Separately, Dow component Exxon Mobil (XOM 88.12, -0.45) trades behind the price-weighted index.

As a reminder, this week's inventory report from the Department of Energy will be released tomorrow at 11:00 ET.

11:00 am:

[BRIEFING.COM] The major averages have pulled back in recent action as the S&P 500 (-0.1%) trades slightly behind the Nasdaq Composite (UNCH). The tech-heavy Nasdaq moved off a recently-established all-time intraday high (5287.61).

The influential technology (+0.3%) sector leads the pack as data storage names outperform. Western Digital (WDC 53.17, +5.62) has spiked 11.8% after raising its first-quarter guidance above analysts' estimates. The company cited a better-than-expected product mix for the improved outlook. Meanwhile, Facebook (FB 131.28, +1.55) has gained 1.2% after Morgan Stanley issued some positive commentary on the name. The tech-large cap has jumped 4.1% so far in September, which compares to a gain of 1.5% in the broader sector.

Top-weighted Apple (AAPL 107.53, -0.17) trades modestly lower as participants adopt a wait-and-see posture ahead of the company's special event. The tech giant is widely expected to unveil the iPhone 7 today with keynote remarks scheduled for 1:00 p.m. ET.

On the central bank front, Bank of England's Mark Carney recently stated that the BoE remains ready to act, indicating that current easing measures could be expanded. However, the central bank governor also noted that recession risks have receded.

10:30 am: [BRIEFING.COM]

The dollar index was up modestly, following yesterday's sharp -1% decline, was +0.1% around the 94.87 level
Commodities, as measured by the Bloomberg Commodity Index, were up +0.3% around the 83.64 level
Crude oil remained volatile, swinging between gains and losses after being up nearly +1% in morning pit trading before reversing
October crude oil futures were down $0.03 (-0.1%) around the $44.80/barrel level
Upcoming data
API data will be released today after the bell
EIA petroleum data will be released tomorrow at 11:00 am ET, 30 min after natural gas inventory data
Monthly IEA data will be released Sept 13
Factors affecting the price of crude include:
Yesterday, Iran's President came out with comments in support of measures to aid in an oil price recovery
Non-OPEC producer Russia & Saudi Arabia (the two largest producers in the world collectively responsible for ~20% of global oil production) agreed to form a coalition to track oil markets and recommend action to OPEC members, announced after the G-20 Summit
Saudi Arabian oil minister has stated that he does not see the need for a production freeze at current price levels after the G-20 announcement
The next OPEC meeting will take place in Algiers, Algeria from Sept 26-28
China released data on its strategic petroleum reserves, totalled 31.97 mln tons equal to 33-36 days of China's imports, China notes they have been stockpiling oil in anticipation of a future oil price recovery
Natural gas extended yesterday's losses in morning pit trading ahead of tomorrow's inventory data
October natural gas futures were down $0.03 (-0.9%) around the $2.69/MMBtu level
EIA natural gas inventory data will be released at its regularly scheduled time, Thursday at 10:30 am ET
In precious metals, gold & silver gave back most of yesterday's notable gains as the dollar eased off yesterday's lows
December gold futures were down $4.60 (-0.3%) around the $1349.40/oz level
Yesterday, gold had its biggest 1-day gain since Aug 18
December silver futures were down $0.21 (-1.0%) around the $19.93/oz level

10:00 am:

[BRIEFING.COM] The major averages have pulled back in recent action as the Dow Jones Industrial Average (-0.1%) trails the S&P 500 (UNCH). The benchmark index floats three points below its session high.

The leaderboard remains little changed with heavily-weighted health care (+0.2%) and technology (+0.4%) leading the advance. Conversely, countercyclical utilities (-0.5%) and consumer staples (-0.7%) round out the board.

Just released, the July Job Openings and Labor Turnover Survey showed that job openings came in at 5.871 million from a revised 5.643 million (from 5.624 million) in June.

The U.S. Dollar Index (94.83, 0.00, 0.00%) treads water as the euro and pound each trim pare losses against the greenback. The euro trades flat against the dollar (1.1250) while the pound has declined 0.4% against the buck (1.3390). Separately, the dollar has lost 0.5% against the safe-haven yen (101.52).

9:45 am:

[BRIEFING.COM] The stock market began the day on flat note as the Nasdaq Composite (+0.1%) trades slightly ahead of the Dow Jones Industrial Average (UNCH) and the S&P 500 (UNCH).

Five sectors trade in the red with utilities (-0.5%) and consumer staples (-0.6%) leading to the downside. The remaining decliners sport losses between 0.1% (telecom services) and 0.2% (financials). Conversely, energy (+0.4%) and technology (+0.5%) lead the pack.

The Dow Jones Transportation Average (+1.0%) demonstrates relative strength as airlines outperform in the index. Delta Air Lines (DAL 38.76, +1.92) has jumped 5.1% after cutting its third-quarter guidance, as expected. The airline also announced that it still plans to be the first carrier to return to positive unit revenue.

In the consumer staples space (-0.6%), grocery store names underperform, trading lower in sympathy with Sprouts Farmers Market (SFM 19.33, -3.47). The name has declined 15.3% after cutting its third-quarter and full-year guidance.

On the commodities front, WTI crude trades higher by 0.6% ($45.09/bbl; +$0.26) while gold trades flat at $1,353.60/ozt.

9:19 am: [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: +2.90.

The stock market is on track for a flat open as the S&P 500 futures trade three points below fair value.

Index futures continue to trade on a relatively flat note as quiet overseas trade looks to give way to a flattish start to the trading day in the U.S. Japan's Nikkei (-0.4%) led to the downside as some strengthening in the yen pressured the index. The dollar/yen pair trades lower by 0.6% (101.40) as participants respond to reports that Bank of Japan officials are finding it difficult to agree on a consensus view for its next policy meeting. The central bank is scheduled to release its latest policy statement on September 21. Recall that the BoJ underwhelmed investors with its July policy statement.

European indices trade in the green following some mixed economic data from the region. Germany's Industrial Production fell 1.5% in July (expected: +0.2%) while a string of data out of the U.K. was mixed. July Industrial Production edged up 2.1% year-over-year (expected 1.9%) while August Halifax House Price Index increased 6.9% year-over-year (expected 7.0%). Separately, the European Central Bank is scheduled to release its latest policy statement tomorrow at 7:45 ET. The central bank may have helped move some participants to the sidelines ahead of tomorrow's announcement.

In company specific news, top-weighted Apple (AAPL 107.88, +0.18) remains in focus as participants look ahead to the company's special event. The tech giant is widely expected to unveil its iPhone 7 device this afternoon with keynote remarks scheduled for 1:00 p.m. ET.

Today's economic data will include the Job Openings and Labor Turnover Survey for July and the Fed's Beige Book for September, which will cross the wires at 10:00 ET and 14:00 ET, respectively. Separately, Richmond Fed President Jeffrey Lacker (a non-FOMC voter) and Kansas City Fed President Esther George (an FOMC voter) are slated to address the House Financial Services' subcommittee on Monetary Policy and Trade at 10:00 ET.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: +3.00.

The S&P 500 futures trade two points below fair value.

Equity indices in the Asia-Pacific region ended Wednesday on a mixed note with Japan's Nikkei (-0.4%) underperforming after Sankei reported that Bank of Japan officials are having a difficult time agreeing on a consensus view ahead of the September policy meeting. The news boosted the yen, sending the dollar/yen pair to 101.60.

In economic data:
Japan's Leading Index 100.0 (expected 98.6; last 99.2) and July Coincident Indicator +0.7% month-over-month (last -1.5%)
Australia's Q2 GDP +0.5% quarter-over-quarter (expected 0.6%; last 1.0%); +3.3% year-over-year (consensus 3.4%; previous 3.1%). August AIG Construction Index 46.6 (last 51.6)

---Equity Markets---

Japan's Nikkei lost 0.4% with seven sectors ending in the red. Financials (-1.7%) and consumer discretionary (-0.7%) underperformed while utilities (+2.4%) and health care (+0.4%) showed relative strength. Dai-ichi Life Insurance, Sony Financial Holdings, Nippon Paper, J Front Retailing, TDK, and Credit Saison lost between 2.3% and 4.0%.
Hong Kong's Hang Seng shed 0.2%. Roughly half of its components ended lower with Bank of East Asia, HSBC, Want Want China, Petrochina, and New World Development falling between 0.6% and 1.5%.
China's Shanghai Composite settled just above its flat line. Hubei Wuchangyu, dalian Dayang Trands, BTG Hotels, Minfeng Special Paper, and Beijing Capital gained between 4.5% and 6.3%.

Major European indices trade in the green with Italy's MIB (+1.3%) showing relative strength. The euro (1.1245) is little changed against the dollar while the pound has given up 0.5%, sliding to 1.3377, after the release of a mixed set of data. Italian Prime Minister Matteo Renzi said that a referendum on Senate reforms will be held sometime between November 15 and December 5.

In economic data:
Germany's July Industrial Production -1.5% month-over-month (expected 0.2%; last 1.1%)
UK's August Halifax House Price Index -0.2% month-over-month (expected -0.4%; last -1.1%); +6.9% year-over-year (consensus 7.0%; last 8.4%). July Industrial Production +0.1% month-over-month (expected -0.2%; last 0.1%); +2.1% year-over-year (consensus 1.9%; last 1.4%). July Manufacturing Production -0.9% month-over-month (expected -0.4%; last -0.2%); +0.8% year-over-year (consensus 1.7%; last 0.6%)
France's July trade deficit narrowed to EUR4.50 billion from EUR3.50 billion (expected deficit of EUR3.70 billion)

---Equity Markets---

UK's FTSE trades higher by 0.2% with energy and mining names showing relative strength. Royal Dutch Shell and BP hold respective gains of 1.7% and 1.1% while Rangold Resources, Fresnillo, Glencore, and Anglo American are up between 0.6% and 1.5%. Homebuilders lag with Persimmon, Barratt Developments, and Taylor Wimpey down between 2.1% and 3.1%.
France's CAC has added 0.4%. More than half of its components trade in the green with Michelin, ArcelorMittal, Total, Carrefour, AXA, and Technip showing gains between 0.8% and 2.3%.
Germany's DAX trades up 0.5% with exporters contributing to the advance. Volkswagen, Daimler, and BMW are up between 0.7% and 1.2%. Steelmaker Thyssenkrupp leads with a 1.5% gain while Lufthansa and E.On are down 2.7% and 2.5%, respectively.
Italy's MIB has climbed 1.3% with Banca Pop Emilia Romagna, Banco Popolare, STMicroelectronics, Enel, and Luxottica climbing between 1.5% and 2.5%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: +1.50.

Index futures float in the bottom of today's trading range as the S&P 500 futures trade three points below fair value.

In company specific news, Western Digital (WDC 50.40, +2.85) has rallied 6.0% in pre-market trade after raising its outlook for the first quarter. The hard drive manufacturer is expected to report its quarterly results on October 27. Fellow tech name Apple (AAPL 107.92, +0.22) has inched higher by 0.2% ahead of this afternoon's special event. The company is expected to unveil its iPhone 7 device at 1:00 p.m. ET. Separately, Casey's General (CASY 123.00, -10.31) has tumbled 7.7% as disappointing bottom-line results weigh on the convenience store chain.

The U.S. Dollar Index (94.87, +0.04, +0.05%) has pulled back as the greenback trims its gain against the euro and the pound. The single currency has lost 0.1% against the dollar (1.1244) while sterling has declined 0.4% against the buck (1.3384). Separately, the dollar/yen pair trades lower by 0.5% (101.56).

8:04 am: [BRIEFING.COM] S&P futures vs fair value: -2.70. Nasdaq futures vs fair value: +1.80.

U.S. equity futures trade on a mixed note with the S&P 500 futures floating three point below fair value. Index futures on the benchmark index occupied a narrow four-point range overnight, responding to quiet action overseas. Japan's Nikkei (-0.4%) underperformed as yen strength weighed on the index. The safe-haven currency strengthened following reports that Bank of Japan officials are having a difficult time agreeing on a consensus view ahead of the September policy meeting.

On the home front, San Francisco Fed President John Williams (a non-FOMC voter) struck a hawkish tone overnight, stating that the U.S. economy appears to be in good shape and that the central bank should get back on a gradual path towards interest rate normalization. Separately, participants will hear from Richmond Fed President Jeffrey Lacker (a non-FOMC voter) and Kansas City Fed President Esther George (an FOMC voter) when they address the House Financial Services' subcommittee at 10:00 ET.

Treasuries trade on a mixed note with the long end of the curve demonstrating relative strength. The yield on the two year note has risen to 0.74% (+1 bps) while the yield on the 10-yr note has slipped to 1.53% (-1 bps).

On the economic front, the weekly MBA Mortgage Index showed a seasonally adjusted increase of 0.9% in mortgage applications. Separately, the Job Openings and Labor Turnover Survey for July and the Fed's Beige Book for September will cross the wires at 10:00 ET and 14:00 ET, respectively.

In U.S. corporate news of note:

Chipotle Mexican Grill (CMG 437.00, +22.93): +5.5% after Pershing Square disclosed a 9.9% active stake in the company
Valeant Pharmaceuticals (VRX 30.10, +0.63): +2.1% following the company and Progenics (PGNX 6.63, +0.47) announcing the commercial launch of Relistor tablets
Advanced Micro (AMD 7.05, -0.29): -4.0% after announcing concurrent public offerings of approximately $600 million in common stock and $450 million in convertible senior notes
Dave & Busters (PLAY 43.24, -3.05): -6.6% as cautious comparable store sale guidance overshadows a bottom-line earnings beat

Reviewing overnight developments:

Asia-Pacific indices ended on a mixed note with Japan's Nikkei (-0.4%) trailing Hong Kong's Hang Seng (-0.2%) and China's Shanghai Composite (UNCH).
In economic data:
Japan's Leading Index 100.0 (expected 98.6; last 99.2) and July Coincident Indicator +0.7% month-over-month (last -1.5%)
Australia's Q2 GDP +0.5% quarter-over-quarter (expected 0.6%; last 1.0%); +3.3% year-over-year (consensus 3.4%; previous 3.1%). August AIG Construction Index 46.6 (last 51.6)
In news:
Japan's Nikkei (-0.4%) underperformed after Sankei reported that Bank of Japan officials are having a difficult time agreeing on a consensus view ahead of the September policy meeting.
The news boosted the yen, sending the dollar/yen pair to 101.60.

European indices trade in the green with Germany's DAX (+0.3%) leading France's CAC (+0.3%) and the U.K.'s FTSE (+0.1%). Elsewhere, Italy's MIB (+1.2%) demonstrates relative strength.
In economic data:
Germany's July Industrial Production -1.5% month-over-month (expected 0.2%; last 1.1%)
UK's August Halifax House Price Index -0.2% month-over-month (expected -0.4%; last -1.1%); +6.9% year-over-year (consensus 7.0%; last 8.4%). July Industrial Production +0.1% month-over-month (expected -0.2%; last 0.1%); +2.1% year-over-year (consensus 1.9%; last 1.4%). July Manufacturing Production -0.9% month-over-month (expected -0.4%; last -0.2%); +0.8% year-over-year (consensus 1.7%; last 0.6%)
France's July trade deficit narrowed to EUR4.50 billion from EUR3.50 billion (expected deficit of EUR3.70 billion)
In news:
The euro (1.1233) is little changed against the dollar while the pound has given up 0.6%, sliding to 1.3363, after the release of a mixed set of data.
Italian Prime Minister Matteo Renzi said that a referendum on Senate reforms will be held sometime between November 15 and December 5.

6:06 am: [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: +3.50.

6:06 am: [BRIEFING.COM] Nikkei...17012...-69.50...-0.40%. Hang Seng...23742...-45.90...-0.20%.

6:06 am: [BRIEFING.COM] FTSE...6827.51...+1.50...+0.00%. DAX...10713.84...+26.70...+0.30%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. Also, thank you for the review of TheStrategyLab performance record...hopefully the links will be useful for you. gm

Best Regards,
M.A. Perry
TheStrategyLab Price Action Trading
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
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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