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 Post subject: April 3rd Monday Trade Results - Profit $2,125.00
PostPosted: Tue Apr 04, 2017 6:39 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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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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 @ $2,125.00 dollars or +42.50 points, Light Crude Oil CL ($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 @ $2,125.00 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=166&t=2519

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=317&t=3373 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

4:20 pm: [BRIEFING.COM] An afternoon rally erased much of the stock market's morning loss, but it just wasn't enough to bring the major averages all the way back to their unchanged marks. The S&P 500 opened the second quarter of 2017 with a modest loss of 0.2% while the Nasdaq and the Dow settled lower by 0.3% and 0.1%, respectively. Meanwhile, the small-cap Russell 2000 (-1.2%) underperformed.

Stocks held close to their flat lines at the opening bell, but it didn't take long for the financial sector (-0.3%) to disrupt the equilibrium. Action within the Treasury market prompted the sector's retreat as unequally distributed buying left longer-dated issues notably higher than their shorter-dated peers. However, the yield curve balanced out a bit in the afternoon, allowing the financial group, and the broader market, to come up from its worst level of the day. The 10-yr yield (2.35%) finished four basis points lower while the 2-yr yield (1.24%) gave up only two basis points.

The remaining cyclical groups settled with modest losses. The consumer discretionary space (-0.5%) closed at the bottom of the day's leaderboard following the largely disappointing auto sales figures for the month of March. Large-cap names like Ford Motor (F 11.44, -0.20), General Motors (GM 34.17, -1.19), Fiat Chrysler (FCAU 10.41, -0.52), Toyota Motor (TM 108.52, -0.10), and Honda Motor (HMC 30.13, -0.13) finished with losses between 0.1% (Toyota) and 4.8% (Fiat Chrysler). Used-car retailer CarMax (KMX 56.67, -2.55) also struggled, dropping 4.3%, to settle as one of the worst-performing SPDR S&P Retail ETF (XRT 41.60, -0.64) components. The XRT finished lower by 1.5%.

However, the auto sales results weren't all bad as electric automaker Tesla (TSLA 298.52, +20.22) jumped 7.3% after reporting a 69.0% year-over-year increase in first quarter deliveries. TSLA shares settled at a fresh all-time high as the company surpassed Ford in market capitalization to become the second biggest automaker in the U.S.

On the countercyclical side, defensive groups generally finished ahead of the broader market as investors gave preference to the less-risky equities. The health care sector (+0.1%) finished with the telecom services space (+0.4%) atop the day's leaderboard as managed health care names like UnitedHealth (UNH 165.59, +1.58), Aetna (AET 128.74, +1.19), and Anthem (ANTM 166.49, +1.11) provided a pocket of strength.

On the data front, investors received the March ISM Index and February Construction Spending:

The ISM Index for March declined to 57.2 from an unrevised reading of 57.7 in February while the Briefing.com consensus expected a downtick to 57.0.
The key takeaway from the report is that all 18 industries reported growth in new orders for the month of March.
The Construction Spending report for February showed an increase of 0.8% while the Briefing.com consensus expected an increase of 1.0%. The prior month's reading was revised to -0.4% from -1.0%.
The key takeaway from the report is that increases were seen in both private construction spending (+0.8%) and public construction spending (+0.6%).

Tomorrow, February Trade Balance (Briefing.com consensus -$44.7 billion) and February Factory Orders (Briefing.com consensus 0.9%) will cross the wires at 8:30 ET and 10:00 ET, respectively.

Nasdaq Composite +9.5% YTD
S&P 500 +5.4% YTD
Dow Jones Industrial Average +4.5% YTD
Russell 2000 +0.9% YTD

3:40 pm: [BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, began the day higher, but are now in the red, currently -0.7%% at 84.7405
The dollar index is currently +0.2% at 100.53, which is helping provide pressure on commodities today
Looking at energy...
May WTI crude oil futures closed today's pit session -0.6% at $50.25/barrel
In other energy, May natural gas finished -1.9% at $3.13/MMBtu
Moving on to metals...
June gold is currently 0.6% at $1254.30/oz, while May silver is -0.1% at $18.23/oz
May copper is now -1.9% at $2.60/lb

3:00 pm:

[BRIEFING.COM] Stocks have moved a little bit higher in recent action and now sit just a step below their flat lines going into the final stretch. The S&P 500 currently shows a loss of 0.2%.

The lightly-weighted telecom services group (+0.3%) hovers at the top of today's standings as Dow component Verizon Communications (VZ 79.13, +0.39) sports a gain of 0.8%. However, elsewhere in the telecom services space, Frontier Communications (FTR 2.07, -0.07) trades at its lowest level since 1982 after slipping 3.3% in today's action. The company has lost 38.8% thus far in 2017, 27.0% of which occurred in the month of March. Most notably, FTR shares dropped 10.9% on February 28 in reaction to disappointing fourth quarter earnings results.

Only two other sectors--health care (+0.1%) and real estate (+0.2%)--trade in the green. The health care group has overcome a modest loss in the biotech industry with gains in managed health care names like UnitedHealth (UNH 165.41, +1.40), Aetna (AET 128.53, +0.98), and Anthem (ANTM 166.39, +1.01). The three companies hold gains between 0.7% and 0.9% while the iShares Nasdaq Biotechnology ETF (IBB 292.91, -0.35) trades lower by 0.2%.

2:30 pm:

[BRIEFING.COM] The major averages have not changed since the last update.

Retailers have struggled in today's session, evidenced by the 1.6% decline in the SPDR S&P Retail ETF (XRT 41.57, -0.67). CarMax (KMX 56.61, -2.61) is one of the worst-performing components in the XRT, dropping 4.4%, after automakers reported disappointing March sales earlier this morning. The results further validate concerns that the auto market has peaked as total auto sales have hovered in a relatively narrow range (between 16.5 million and 18.5 million) for 24 months in a row.

As a result, the consumer discretionary sector (-0.7%) has struggled to keep pace with the broader market. The sector carried an eight session win streak into today's action, but that appears to be in serious jeopardy as the closing bell approaches.

2:00 pm:

[BRIEFING.COM] The major averages hover near their recent levels with the S&P 500 showing a loss of 0.5%.

Nine of eleven sectors trade in negative territory this afternoon with the lightly-weighted materials space (-1.0%) at the back of the pack. The group's largest components by market cap--DuPont (DD 79.05, -1.28) and Dow Chemical (DOW 62.47, -1.07)--trade lower by 1.6% apiece. A loss today would extend Dow Chemical's losing streak to four consecutive sessions.

In the metals market, gold finished its trading day 0.6% higher at $1,254.30/ozt while silver closed 0.1% lower at $18.23/ozt. Neither commodity was really influenced by the U.S. Dollar as the American currency continues to trade flat, according to the U.S. Dollar Index (100.41, -0.01).

1:30 pm:

[BRIEFING.COM] Wall Street has started the quarter by taking one step back, with the major U.S. indices all showing losses at this time.

A look inside the Dow Jones Industrial average shows that DuPont (DD 79.17, -1.16), Caterpillar (CAT 91.84, -0.92), & American Express (AXP 78.49, -0.62) are underperforming.

Conversely, UnitedHealth Group (UNH 165.16, +1.15) is the best-performing Dow component as managed health care names display relative strength to start the quarter.

Following strong gains in Q1, the DJIA is down 0.31% to start the week, month and quarter.

1:05 pm:

[BRIEFING.COM] Investors have decided to take some money off the table in the first half of Monday's session, leaving the major averages with modest losses to kick off the second quarter of 2017. The Dow (-0.4%) and the Nasdaq (-0.4%) trade roughly in line with the S&P 500 (-0.5%) while the small-cap Russell 2000 (-1.1%) underperforms.

The financial sector (-0.7%) has been one of the worst-performing sectors in today's action as unevenly distributed buying within the Treasury market has flattened the yield curve; the benchmark 10-yr yield (2.35%) trades four basis points lower while the 2-yr yield (1.25%) is down only one basis point. Recall that banks enjoyed a big post-election run that was predicated on improved earnings prospects, but recent movement in the yield curve has contradicted that narrative.

Crude oil has also had an impact in the cash market as WTI crude has decided on negative territory after hovering near its unchanged mark throughout the overnight session. The energy component currently trades 0.5% lower at $50.34/bbl, leaving the energy sector with a loss of 0.5%.

Most of the remaining cyclical sectors trade in line or behind the broader market while countercyclical groups outperform. The health care (-0.1%), consumer staples (-0.3%), utilities (-0.4%), and telecom services (unch) spaces trade no more than 0.4% below their respective flat lines as investors take kindly to the less-risky equities.

In corporate news, automobile manufacturers like Ford (F 11.28, -0.35), General Motors (GM 33.89, -1.47), and Fiat Chrysler (FCAU 10.31, -0.62) show losses between 3.0% and 5.7% after reporting their sales for the month of March. Year-over-year, Ford and Fiat Chrysler saw US sales fall 7.2% and 5.0%, respectively, while General Motors reported a 2.0% uptick.

Toyota Motor (TM 108.16, -0.45) and Honda Motor (HMC 29.98, -0.28) also reported year-over-year declines, losing 2.1% and 0.7%, respectively, but shares of the two companies have held up relatively well; TM and HMC shares show respective losses of 0.4% and 0.9%.

Conversely, electric automaker Tesla (TSLA 292.17, +13.85) has jumped 5.0% after the company reported a 69.0% year-over-year increase in first quarter deliveries. TSLA shares currently trade at a fresh all-time high, which places the company's market cap ($47.6 billion) ahead of Ford's ($44.9 billion).

In addition to auto and truck sales, investors received the March ISM Index and February Construction Spending:

The ISM Index for March declined to 57.2 from an unrevised reading of 57.7 in February while the Briefing.com consensus expected a downtick to 57.0.
The key takeaway from the report is that all 18 industries reported growth in new orders for the month of March.
The Construction Spending report for February showed an increase of 0.8% while the Briefing.com consensus expected an increase of 1.0%. The prior month's reading was revised to -0.4% from -1.0%.
The key takeaway from the report is that increases were seen in both private construction spending (+0.8%) and public construction spending (+0.6%).

12:30 pm:

[BRIEFING.COM] The S&P 500 (-0.5%) hovers near its recent level as nine of eleven sectors trade in the red. The Nasdaq and the Dow also trade lower, showing losses of 0.5% and 0.4%, respectively.

Chipmakers have weighed on the top-weighted technology sector (-0.8%) in today's session with the PHLX Semiconductor Index showing a loss of 1.0%. Nearly all tech components trade in the red, however, large-cap components such as Apple (AAPL 143.42, -0.24) and Alphabet (GOOGL 849.71, +1.91) outperform, which has put a lid on the sector's loss.

Elsewhere, the CBOE Volatility Index (VIX 13.36, +0.99) has jumped nearly one point amid today's risk-off sentiment. The increase puts the VIX at its highest level of 2017, indicating that investors expect things to get a little more unpredictable in the days ahead.

12:00 pm:

[BRIEFING.COM] Stocks have ticked down slightly in recent action, leaving the Dow lower by 0.5%.

Automobile manufacturers like Ford (F 11.28, -0.35), General Motors (GM 33.89, -1.47), and Fiat Chrysler (FCAU 10.31, -0.62) trade lower between 3.0% and 5.7% after reporting their auto and truck sales for the month of March. Year-over-year, Ford and Fiat Chrysler saw US sales fall 7.2% and 5.0%, respectively, while General Motors reported a 2.0% uptick.

Conversely, electric automaker Tesla (TSLA 292.17, +13.85) has jumped 5.0% after the company reported a 69.0% year-over-year increase in first quarter deliveries. TSLA shares currently trade at a fresh all-time high, which places the company's market cap ($47.6 billion) ahead of Ford's ($44.9 billion).

The consumer discretionary space performs a step behind the broader market with a loss of 0.8%.

11:30 am:

[BRIEFING.COM] Equity indices remain under water with the S&P 500 trading lower by 0.5%.

The financial sector (-1.1%), which has held a special influence over the broader market since pacing the post-election rally, has amplified today's risk-off sentiment by slipping to the bottom of the leaderboard. Financial heavyweights such as Bank of America (BAC 23.17, -0.42), Citigroup (C 58.84, -0.99), and Wells Fargo (WFC 54.84, -0.82), trade solidly lower with losses between 1.4% and 1.7%.

A bearish sentiment has also found its way into the crude oil futures market, pushing WTI crude into the red after the commodity hovered near its flat line throughout the overnight session. The energy component trades 0.7% lower at $50.23/bbl. Meanwhile, the energy sector, which typically moves in tandem with crude oil, holds a loss of 0.9%.

Investors were hoping that the energy group could turn around its disappointing first quarter performance, but that hasn't been the case thus far on the first day of Q2. Today's slip extends the energy sector's year-to-date loss to 8.3%.

11:00 am:

[BRIEFING.COM] The major averages have slipped into negative territory this morning after opening near their unchanged marks. The S&P 500 now shows a loss of 0.5%.

Countercyclical sectors hold an edge on their cyclical peers with the health care (+0.2%), consumer staples (unch), and telecom services (+0.1%) groups outperforming the broader market. Top-performers from the respective sectors include UnitedHealth (UNH 165.72, +1.74), Wal-Mart (WMT 72.32, +0.24), and Verizon (VZ 49.06, +0.32). The three names sport gains between 0.3% and 1.1%.

Meanwhile, U.S. Treasuries have moved higher in recent action with the benchmark 10-yr yield hovering four basis points lower at 2.35%. The 2-yr yield (1.23%) trades a bit closer to its flat line, down only two basis points, which has flattened the yield curve.

10:40 am: [BRIEFING.COM]

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently +0.3% at 85.5954
Dollar index is currently +0.2% at 100.51
Looking at energy...
May WTI crude oil futures are now -2c at $50.58/barrel
In other energy, May natural gas is -1.3% at $3.15/MMBtu
Moving on to metals...
June gold is currently +0.1% at $1252.90/oz, while May silver is -0.1% at $18.23/oz
May copper is now -0.3% at $2.64/lb

10:05 am:

[BRIEFING.COM] The S&P 500 trades right on its flat line.

Just in, the ISM Index for March declined to 57.2 from an unrevised reading of 57.7 in February while the Briefing.com consensus expected a downtick to 57.0.

Separately, the Construction Spending report for February showed an increase of 0.8% while the Briefing.com consensus expected an increase of 1.0%. The prior month's reading was revised to -0.4% from -1.0%.

9:45 am:

[BRIEFING.COM] The S&P 500 opens the week just a tick above its flat line.

Sectors are split pretty evenly between green and red in the early going, but the gains and losses have been modest. The health care group leads its peers with a gain of 0.4% while the utilities sector (-0.5%) holds the bottom spot on the day's leaderboard.

Elsewhere, crude oil ($50.59/bbl), the U.S. Dollar Index (100.44, +0.02), and U.S. Treasuries all hover near their unchanged marks. The yield of the benchmark 10-yr Treasury note is unchanged at 2.39%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +6.60.

Today marks the start of the second quarter of 2017 with the S&P 500's year-to-date gain of 5.5% acting as the baseline metric going forward. The cash market looks like it will open relatively close to that mark as the S&P 500 futures trade one point below fair value.

In U.S. corporate news, Hewlett Packard Enterprise (HPE 18.00, +0.24) trades higher by 1.4% in pre-market action after the company completed the merger between its Enterprise Services division and Computer Sciences (CSC 69.01, 0.00). The new company will be called DXC Technology.

On the flip side, Accenture (ACN 117.20, -2.68) shares have slipped 2.2% after the company completed its acquisition of Arismore, a French security services company. Mylan (MYL 38.53, -0.46) is also down, losing 1.2%, after announcing a voluntary EpiPen recall.

Crude oil ($50.69/bbl) trades just a tick above its flat line as investors take a breather following the commodity's 5.3% advance last week. Similarly, U.S. Treasuries also trade relatively flat as investors eye a speech from New York Fed President William Dudley and a batch of economic reports. Mr. Dudley will speak at 10:30 ET while the March ISM Index (Briefing.com consensus 57.0) and February Construction Spending (Briefing.com consensus 1.0%) will cross the wires at 10:00 ET.

Also of note, March auto & truck sales will be released throughout the day.

8:50 am: [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: +6.10.

The S&P 500 futures trade one point below fair value.

Equity indices in the Asia-Pacific region ended Monday on a higher note. Regional investors were unperturbed by a weekend article in the Financial Times, in which U.S. President Donald Trump said he is ready to act alone on North Korea if China does not change the current situation on the Korean peninsula. South Korea, the United States, and Japan are scheduled to hold a joint exercise this week to counter North Korea's submarine threat. Elsewhere, Nikkei reported that Japanese megabanks are planning to raise mortgage rates.

In economic data:
China's March Caixin Manufacturing PMI 51.2 (expected 51.6; last 51.7)
Australia's February Retail Sales -0.1% month-over-month (expected 0.3%; last 0.4%). February Building Approvals +8.3% month-over-month (expected -0.5%; last 2.2%), MI Inflation Gauge +0.1% month-over-month (last -0.3%), and Private House Approvals +5.3% (last -4.0%). March AIG Manufacturing Index 57.5 (last 59.3)
Japan's Q1 Tankan Large Manufacturers Index 12 (expected 14; last 10). Q1 Large Non-Manufacturers Index 20, as expected (last 18). Q1 Tankan All Big Industry Capex +0.6% (expected -0.1%; last 5.5%)
India's Nikkei Markit Manufacturing PMI 52.5 (last 50.7)

---Equity Markets---

Japan's Nikkei gained 0.4%. Meiji Holdings, Nissan Chemical Industries, Kikkoman, Tokyo Electron, Furukawa Electric, Familymart, Yamaha, Rakuten, and NGK Insulators added between 1.1% and 3.1%. On the downside, Toshiba fell 5.3%.
Hong Kong's Hang Seng rose 0.6%. Kunlun Energy jumped 7.1% while property names like China Resources Land, SHK Properties, Henderson Land, New World Development, and Cheung Kong Property Holdings climbed between 0.7% and 1.8%. On the downside, China Mengniu Dairy lost 2.7%.
China's Shanghai Composite was closed for Tomb Sweeping Day.
India's Sensex climbed 1.0% to settle at a new record high. Larsen & Toubro jumped 5.3% amid positive analyst commentary. Dr Reddy's Labs, Reliance Industries, and Asian Paints rose between 1.9% and 4.3% while financials were mixed. ICICI Bank, AXIS Bank, and SBI posted gains between 0.2% and 3.5% while HDFC Bank lost 0.7%.

Major European indices trade near their flat lines with Spain's IBEX (-0.6%) struggling to keep pace with its peers. The underperformance comes even though the Bank of Spain raised its GDP forecast for 2017, 2018, and 2019, expecting 2017 growth to hit 2.8%, up from the previous forecast for growth of 2.5%. It is worth noting that the European Central Bank has started scaling back its asset purchases, reducing monthly asset buys to EUR60 billion from EUR80 billion.

In economic data:
Eurozone March Manufacturing PMI 56.2, as expected (last 56.2). February PPI 0.0% month-over-month (expected 0.3%; last 1.1%); +4.5% year-over-year (consensus 4.3%; previous 3.9%). February Unemployment Rate slipped to 9.5% from 9.6%, as expected
Germany's March Manufacturing PMI 58.3, as expected (last 58.3)
UK's March Manufacturing PMI 54.2 (expected 55.1; last 54.5)
France's March Manufacturing PMI 53.3 (consensus 53.4; previous 53.4)
Italy's March Manufacturing PMI 55.7 (expected 54.9; last 55.0) and February Unemployment Rate 11.5% (consensus 11.9%; last 11.8%)
Spain's March Manufacturing PMI 53.9 (expected 54.7; last 54.8)
Swiss February Retail Sales +0.6% year-over-year (consensus -0.8%; last -1.2%) and March SVME PMI 58.6 (consensus 58.2; last 57.8)

---Equity Markets---

Germany's DAX is higher by 0.2%. Growth-sensitive names like Linde, Heidelbergcement, SAP, BASF, and Thyssenkrupp show gains between 0.5% and 1.4%. On the downside, Deutsche Bank is down 1.9%.
UK's FTSE holds a slim gain of 0.1%. Consumer names like Next, ITV, Dixons Carphone, Paddy Power, and Kingfisher are down between 0.6% and 2.8%. On the upside, energy-related names like BP and Royal Dutch Shell hold respective gains of 1.5% and 0.5% while select miners also trade in the green. Rio Tinto and BHP Billiton are both up near 0.3%.
France's CAC has given up 0.3% amid weakness in financials. Credit Agricole, Societe Generale, and BNP Paribas are down between 1.2% and 2.1%. On the upside, Renault has added 0.4% while defense contractor Safran leads with a gain of 1.8%.
Spain's IBEX is down 0.6%. Banco Popular, BBVA, Banco Sabadell, Caixabank, Santander, and Bankinter show losses between 0.5% and 6.0%.

8:29 am: [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -3.30.

It appears that the major averages will open the second quarter of 2017 relatively flat as the S&P 500 futures trade one point below fair value.

The S&P 500 kicked off 2017 on a positive note, posting its best Q1 performance since 2013. The top-weighted technology sector had a lot to do with the advance, adding 12.2%. The sector's top component by market cap, Apple (AAPL 143.55, -0.11), led the tech group's impressive campaign with a Q1 gain of 18.4%, notching a new all-time high in the process.

On the flip side, the energy sector will be looking forward to a fresh start after dropping 7.3% in the first quarter of 2017. The sector was plagued by persistently high U.S. crude oil inventories, which influenced WTI crude to a 5.8% Q1 decline. Going forward, investors will keep an eye on the OPEC/non-OPEC production agreement, hoping that the oil producers will extend the accord beyond June.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: +4.50.

Equity futures trade flat this morning following the conclusion of the S&P 500's best first quarter in four years on Friday. The S&P 500 futures currently trade two points below fair value.

Crude oil had a solid performance last week, adding 5.3%, after a better than expected EIA inventory report, a spat in Libya that cut into output, and news that OPEC/non-OPEC production cuts may extend beyond June. This morning, the energy component trades relatively flat at $50.66/bbl.

U.S. Treasuries also hover near their unchanged marks in early action as investors eye a speech from New York Fed President William Dudley, which will take place at 10:30 ET. The benchmark 10-yr yield is unchanged at 2.39%.

On the data front, investors will receive March ISM Index (Briefing.com consensus 57.0) and February Construction Spending (Briefing.com consensus 1.0%) at 10:00 ET. Also of note, March auto & truck sales will be released throughout the day.

In U.S. corporate news:

Hewlett Packard Enterprise (HPE 18.10, +0.34): +1.9% after completing a merger between the company's Enterprise Services division and Computer Sciences Corporation (CSC 69.01, 0.00).
Accenture (ACN 117.20, -2.68): -2.2% after the company completed its acquisition of Arismore, a French security services company.
Wynn Resorts (WYNN 116.50, +1.89): +1.7% after the Gaming Inspection and Coordination Bureau of Macau reported better than expected March gross gaming revenues.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Monday on a higher note. China's Shanghai Composite was closed for Tomb Sweeping Day. Japan's Nikkei +0.4%, Hong Kong's Hang Seng +0.6%, India's Sensex +1.0%.
In economic data:
China's March Caixin Manufacturing PMI 51.2 (expected 51.6; last 51.7)
Australia's February Retail Sales -0.1% month-over-month (expected 0.3%; last 0.4%). February Building Approvals +8.3% month-over-month (expected -0.5%; last 2.2%), MI Inflation Gauge +0.1% month-over-month (last -0.3%), and Private House Approvals +5.3% (last -4.0%). March AIG Manufacturing Index 57.5 (last 59.3)
Japan's Q1 Tankan Large Manufacturers Index 12 (expected 14; last 10). Q1 Large Non-Manufacturers Index 20, as expected (last 18). Q1 Tankan All Big Industry Capex +0.6% (expected -0.1%; last 5.5%)
India's Nikkei Markit Manufacturing PMI 52.5 (last 50.7)
In news:
Regional investors were unperturbed by a weekend article in the Financial Times, in which U.S. President Donald Trump said he is ready to act alone on North Korea if China does not change the current situation on the Korean peninsula. South Korea, the United States, and Japan are scheduled to hold a joint exercise this week to counter North Korea's submarine threat.
Nikkei reported that Japanese megabanks are planning to raise mortgage rates.

Major European indices trade near their flat lines with Spain's IBEX struggling to keep pace with its peers. Germany's DAX +0.2%, UK's FTSE unch, France's CAC -0.3%, Spain's IBEX -0.6%.
In economic data:
Eurozone March Manufacturing PMI 56.2, as expected (last 56.2). February PPI 0.0% month-over-month (expected 0.3%; last 1.1%); +4.5% year-over-year (consensus 4.3%; previous 3.9%). February Unemployment Rate slipped to 9.5% from 9.6%, as expected
Germany's March Manufacturing PMI 58.3, as expected (last 58.3)
UK's March Manufacturing PMI 54.2 (expected 55.1; last 54.5)
France's March Manufacturing PMI 53.3 (consensus 53.4; previous 53.4)
Italy's March Manufacturing PMI 55.7 (expected 54.9; last 55.0) and February Unemployment Rate 11.5% (consensus 11.9%; last 11.8%)
Spain's March Manufacturing PMI 53.9 (expected 54.7; last 54.8)
Swiss February Retail Sales +0.6% year-over-year (consensus -0.8%; last -1.2%) and March SVME PMI 58.6 (consensus 58.2; last 57.8)
In news:
The Bank of Spain raised its GDP forecast for 2017, 2018, and 2019, expecting 2017 growth to hit 2.8%, up from the previous forecast for growth of 2.5%.
The European Central Bank has started scaling back its asset purchases, reducing monthly asset buys to EUR60 billion from EUR80 billion.

5:52 am: [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +8.40.

5:52 am: [BRIEFING.COM] Nikkei...18983...+74.00...+0.40%. Hang Seng...24261.5...+149.90...+0.60%.

5:52 am: [BRIEFING.COM] FTSE...7331.64...+8.70...+0.10%. DAX...12349.66...+36.80...+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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