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 Post subject: July 3rd Monday Trade Results - No Trades
PostPosted: Mon Jul 03, 2017 10:21 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
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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TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
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Quote:
No trades today because of the Canada Holiday...150 celebration of the birth of Canada. Yet, the chat room was open for those trading the U.S. markets that were open for 1/2 day in preparation for its own holiday on Tuesday July 4th.


Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($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 @ $0.00 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=169&t=2590

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=324&t=3459 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

The Market at 01:10PM ET
Dow: +129.64… | Nasdaq: -30.36… | S&P: +5.61…
NASDAQ Vol: 1.08 bln… Adv: 1646… Dec: 1159…
NYSE Vol: 492.0 mln… Adv: 2085… Dec: 855…

Moving the Market

Wall Street session to end early at 13:00 ET: low volume expected

Dollar Index rebounds after hitting fresh 2017 low on Friday

Sector Watch
Strong: Financials, Consumer Discretionary, Industrials, Energy, Real Estate
Weak: Consumer Staples, Technology
01:10PM ET

[BRIEFING.COM] The major averages ended an abbreviated Monday session on a mixed note. The Nasdaq Composite (-0.5%) could not hold its opening gain and spent the session in a steady slide, preventing the broader S&P 500 (+0.2%) from finishing near its own opening high. The limited number of technology stocks in its composition helped the Dow Jones Industrial Average (+0.6%) settle near its best level of the day, marking a fresh intraday record high (21562.75) in the process.

With the market closed on Tuesday for Independence Day, today's session was not expected to be particularly active. However, the daylong weakness in the technology sector (-0.9%) prevented the key indices from rising in unison. The top-weighted sector was a clear laggard while other decliners-consumer discretionary (-0.2%), consumer staples (-0.1%), and utilities (-0.5%)-ended closer to their flat lines.

The weakness in technology was not isolated to any single component. Instead, top-weighted names like Apple (AAPL 143.50, -0.52), Microsoft (MSFT 68.17, -0.76), and Alphabet (GOOGL 919.46, -10.22) began on a higher note, but slid into the close. High-beta chipmakers followed suit, sending the PHLX Semiconductor Index lower by 1.4%.

Unlike the Nasdaq, the S&P 500 remained in the green until the close as technology's underperformance was offset by gains among financials (+1.3%), industrials (+0.6%), and energy (+2.0%). Lightly-weighted sectors also chipped in with materials, real estate, and telecom services adding between 0.8% and 0.9%.

Industrials were underpinned by the Dow Jones Transportation Average, which gained 1.1% to end the day at a fresh record high while the energy sector followed crude oil, which jumped 1.5% to $46.73/bbl.

Elsewhere, the consumer discretionary sector finished among the laggards, but it worth noting that Ford (F 11.56, +0.37) and General Motors (GM 35.57, +0.64) posted respective gains of 3.3% and 1.8% even though both saw their June sales fall roughly 5.0% year-over-year. Toyota Motor (TM 106.03, +1.01) climbed 1.0% after reporting a 2.1% increase in sales while Honda Motor (HMC 27.41, +0.02) added 0.1% after announcing that its June sales grew 0.8%.

Treasuries held modest gains in early morning action, but slid into the afternoon. The bond market will remain open for another hour, but the 10-yr note is on track to finish in the red with its yield rising four basis points to 2.34%.

Today's economic data included May Construction Spending and June ISM:

Total construction spending was basically flat in May (Briefing.com consensus +0.3%) following an upwardly revised 0.7% decline (from -1.4%) for April. Nonresidential spending was up 0.3% month-over-month, so the drag in May was residential spending, which declined 0.5%.
The key takeaway from the report is that private residential spending was down in May, signaling that the housing market growth will continue to be pinched by limited supply.
The ISM Manufacturing Index for June hit 57.8, which was above the Briefing.com consensus estimate of 55.0 and the highest level since August 2014. The dividing line between expansion and contraction is 50.0 and June marked the 10th consecutive month the ISM Index has been above 50.0.
The key takeaway from the report is that it featured a faster pace of new orders, which bodes well for future production and serves as a good sign of increased manufacturing demand.

Bond and equity markets will be closed tomorrow for Independence Day. On Wednesday, investors will receive the weekly MBA Mortgage Index at 7:00 ET while May Factory Orders will be reported at 10:00 ET. The FOMC will release the minutes from its June policy meeting at 14:00 ET.

Nasdaq Composite +13.5% YTD
S&P 500 +8.5% YTD
Dow Jones Industrial Average +8.7% YTD
Russell 2000 +5.2% YTD

Dow: +129.64… | Nasdaq: -30.36… | S&P: +5.61…

NASDAQ Adv/Dec 1646/1159. …NYSE Adv/Dec 2085/855.

12:30PM ET

[BRIEFING.COM] Recent action saw the S&P 500 (+0.4%) stumble to a fresh session low in a move that was fueled by a pullback in one of today's top sectors-financials (+1.4%)-and some selling in groups like health care (+0.3%), and consumer discretionary (-0.1%).

The price-weighted Dow (+0.8%) has also been knocked back from its session high, but the index still holds the bulk of today's gain. The Nasdaq (-0.4%), meanwhile, has slid to a fresh session low, continuing a daylong slide from its opening high.

The Nasdaq's underperformance has been today's main story, but it is worth pointing out that automakers reported their June sales. Investors have been paying attention to news from the auto sector as of late, due to fears that the long-term cycle is showing signs of topping. Ford (F 11.59, +0.40) and General Motors (GM 35.83, +0.90) saw their U.S. sales decline 5.1% and 5.0% year-over-year, respectively. Toyota Motor (TM 106.26, +1.24), meanwhile, reported a 2.1% year-over-year increase in sales. Even with today's gains, shares of the three manufacturers remain down for the year.

Dow: +167.20… | Nasdaq: -25.29… | S&P: +8.74…

NASDAQ Adv/Dec 1666/1187. …NYSE Adv/Dec 2061/841.

11:55AM ET

[BRIEFING.COM] The major averages hover near their recent levels going into the final hour of today's abbreviated session. The S&P 500 (+0.6%) hit its best level of the day roughly 45 minutes after the opening bell, and has stayed within four points of that mark.

Eight of eleven sectors trade in the green with energy (+2.3%) staying just ahead of financials (+2.1%) amid today's rally in crude oil. WTI crude has climbed 1.6% to $46.77/bbl, returning to levels from early June. The energy component is on track to record its eighth consecutive gain after setting a new low ($42.05) for the year on June 21.

Treasuries remain in the red with the 10-yr yield up four basis points at 2.34%.

Dow: +199.79… | Nasdaq: -13.00… | S&P: +13.46…

NASDAQ Adv/Dec 1733/1095. …NYSE Adv/Dec 2123/767.

11:25AM ET

[BRIEFING.COM] The technology sector (-0.5%) has seen more selling in recent action, but the retreat has had a limited impact on the broader market as the S&P 500 (+0.6%) remains within three points of its session high.

The benchmark index has held its ground as solid gains in groups like financials (+1.9%), industrials (+0.9%), and energy (+2.2%) offset the decline in the tech space.

High-beta groups are mixed with respect to the broader market. Biotech names hold modest gains, helping the iShares Nasdaq Biotechnology ETF (IBB 310.83, +0.75) add 0.3% while chipmakers have struggled since the start. The PHLX Semiconductor Index is down 0.9% with most of its components moving lower.

Dow: +191.65… | Nasdaq: -10.18… | S&P: +13.40…

NASDAQ Adv/Dec 1649/1162. …NYSE Adv/Dec 2097/775.

10:55AM ET

[BRIEFING.COM] The Dow (+0.9%) and S&P 500 (+0.6%) continue holding the bulk of their gains while the Nasdaq (unch) has slipped back near its flat line due to a weak showing from the technology sector (-0.1%).

Top-weighted tech components like Apple (AAPL 143.91, -0.11), Microsoft (MSFT 68.82, -0.11), Alphabet (GOOGL 928.95, -0.73), and Oracle (ORCL 49.95, -0.19) are all down near 0.1% apiece while high-beta chipmakers have struggled a bit more. The PHLX Semiconductor Index is lower by 0.3% after falling 4.5% last week.

The underperformance of the largest sector by weight is not particularly encouraging, but today's performance will be taken with a grain of salt, considering many investors are not taking part in today's session.

Treasuries have retreated after showing slight gains in morning action. The 10-yr yield has climbed three basis points to 2.33%.

Dow: +189.21… | Nasdaq: -0.05… | S&P: +14.78…

NASDAQ Adv/Dec 1643/1171. …NYSE Adv/Dec 2102/758.

10:40AM ET

[BRIEFING.COM] Commodities are beginning the day higher

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently higher 0.59% at 83.0907
Dollar index is up 0.52% at 96.12
Looking at energy...
Oil moves to the mid $46/barrel range as prices continue to climb...
July WTI crude oil futures are now $0.67 at $46.71/barrel
In other energy,
June natural gas is down $0.002 at $3.033/MMBtu
Moving on to metals...
Aug gold is down $18.60 at $1223.70/oz, while July silver is down $0.443 at $16.125/oz
July copper is down 0.016 at $2.683/lb

Dow: +173.72… | Nasdaq: +3.26… | S&P: +13.31…

NASDAQ Adv/Dec 1661/1126. …NYSE Adv/Dec 2084/753.

10:00AM ET

[BRIEFING.COM] The S&P 500 trades higher by 0.6%.

Just in, the ISM Index for June rose to 57.8 from an unrevised reading of 54.9 in May while the Briefing.com consensus expected an uptick to 55.0.

Separately, the Construction Spending report for May showed no change while the Briefing.com consensus expected an increase of 0.3%. The prior month's reading was revised to -0.7% from -1.4%.

Dow: +147.17… | Nasdaq: +24.80… | S&P: +14.08…

NASDAQ Adv/Dec 1645/1087. …NYSE Adv/Dec 2029/729.

09:40AM ET

[BRIEFING.COM] Equity indices have climbed out of the gate with the Nasdaq Composite (+0.4%) trading just behind the S&P 500 (+0.5%).

The top-weighted technology sector (+0.3%) trades a step behind the broader market while most of the remaining cyclical sectors outperform. Financials (+1.0%) hold the lead while energy (+0.9%) and consumer discretionary (+0.6%) show slimmer gains.

Treasuries continue holding their ground with the 10-yr yield drifting near 2.30%.

May Construction Spending (Briefing.com consensus 0.3%) and the June ISM Index (Briefing.com consensus 55.0) will be reported at 10:00 ET.

Dow: +105.37… | Nasdaq: +22.58… | S&P: +11.77…

NASDAQ Adv/Dec 1650/961. …NYSE Adv/Dec 2038/647.

09:09AM ET

[BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +31.50.

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

Index futures have marched higher throughout the night, receiving some assistance from upbeat action in European equities after investors received a mixed batch of Manufacturing PMI readings. A handful of countries reported below-consensus results, but all readings held above 50, indicating expansion. Eurozone Manufacturing PMI for June checked in at 57.4 (expected 57.3; last 57.3).

Overnight action has also featured an uptick in the Dollar Index (96.06, +0.43) and a 0.7% advance in crude oil, which hovers at $46.34/bbl, looking for its eighth consecutive advance.

On the economic front, May Construction Spending (Briefing.com consensus 0.3%) and June ISM Index (Briefing.com consensus 55.0) will be reported at 10:00 ET.

Treasuries sit near their highs with the 10-yr yield showing a marginal dip to 2.30%.

08:54AM ET

[BRIEFING.COM] S&P futures vs fair value: +9.50. Nasdaq futures vs fair value: +29.00.

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

Equity indices in the Asia-Pacific region began the week on a higher note, but the overnight session was not particularly active. In Japan, Yuriko Koike won the Tokyo gubernatorial election despite not having support of the ruling LDP. Press reports indicated Prime Minister Shinzo Abe is likely to reshuffle his cabinet by the end of August. Also of note, China launched a long-awaited bond trading link with Hong Kong.

In economic data:
China's June Caixin Manufacturing PMI 50.4 (expected 49.5; last 49.6)
Japan's Q2 Tankan Large Non-Manufacturers Diffusion Index 18 (expected 20; last 16) and Large Manufacturers Index 17 (expected 15; last 12). June Manufacturing PMI 52.4 (expected 52.0; last 52.0). June Household Confidence 43.3 (expected 43.9; last 43.6)
South Korea's June Nikkei Manufacturing PMI 50.1 (last 49.2)
Australia's May Building Approvals -5.6% month-over-month (expected -1.3%; last 4.8%) and May AIG Manufacturing Index 55.0 (last 54.8)
India's June Nikkei Markit Manufacturing PMI 50.9 (last 51.7)

---Equity Markets---

Japan's Nikkei added 0.1%. Citizen Holdings, Kobe Steel, Japan Steel Works, Fuji Heavy Industries, Familymart, Yamaha, and Toyota gained between 1.0% and 3.6%. On the downside, Toshiba fell 3.3% while Advantest, Dainippon Screen Manufacturing, Nikon, Olympus, and SUMCO lost between 0.7% and 2.3%.
Hong Kong's Hang Seng also ticked up 0.1%. Geely Automobile continued its show of strength, jumping 4.0%. Financials also had a good showing with Ping An Insurance, China Life Insurance, BoC Hong Kong, HSBC, and Bank of China rising between 1.0% and 1.8%.
China's Shanghai Composite edged up 0.1%. Fujian Dongbai, Ningbo Shanshan, Hubei Sanxia New Building Materials, Maanshan Iron & Steel, and Xinjiang Bayi Iron & Steel rallied between 4.8% and 9.9%.
India's Sensex rose 1.0% with help from most components. ITC spiked 5.7% amid expectations that the implementation of the goods and services tax won't have much of an impact on the cigarette maker. Hero MotoCorp, Maruti Suzuki, Adani Ports, and Asian Paints advanced between 1.3% and 2.2%.

Major European indices trade in the green with Italy's MIB (+1.6%) showing relative strength. The euro has retreated 0.5% against the greenback to 1.1373 while other major currencies have also faced pressure versus the dollar. Bundesbank President and European Central Bank member Jens Weidmann said that while the ECB agrees that some monetary stimulus is still needed, the degree of needed involvement is being actively discussed.

In economic data:
Eurozone June Manufacturing PMI 57.4 (expected 57.3; last 57.3) and May Unemployment Rate 9.3% (expected 9.2%; last 9.3%)
Germany's June Manufacturing PMI 59.6 (expected 59.3; last 59.3)
UK's June Manufacturing PMI 54.3 (consensus 56.5; previous 56.3)
Italy's June Manufacturing PMI 55.2 (expected 55.3; last 55.1) and May Unemployment Rate 11.3% (consensus 11.1%; last 11.2%)
France's June Manufacturing PMI 54.8 (expected 55.0; last 55.0)
Spain's June Manufacturing PMI 54.7 (expected 55.7; last 55.4)
Swiss June SVME PMI 60.1 (expected 56.5; last 55.6) and May Retail Sales -0.3% year-over-year (consensus -0.8%; last -0.9%)

---Equity Markets---

UK's FTSE is higher by 0.3%, looking to halt a four-day losing streak. Miners, financials, and energy names are among the leaders with Glencore, Antofagasta, Anglo American, Rio Tinto, RBS, HSBC, Barclays, Royal Dutch Shell, BP, and Lloyds Banking showing gains between 0.7% and 3.1%. On the downside, consumer names like Morrison Supermarkets, Sainsbury, and Tesco are down between 0.6% and 1.4%.
Germany's DAX trades up 0.7% amid gains in most components. Steelmaker Thyssenkrupp has jumped 3.5% while financials Commerzbank and Deutsche Bank show respective gains of 2.7% and 2.4%. Automakers Daimler, BMW, and Volkswagen have gained between 0.9% and 1.3%.
France's CAC has climbed 1.1% with growth-sensitive names like ArcelorMittal, Total, LafargeHolcim, and Solvay rising between 1.7% and 3.0%. Financials like Credit Agricole, AXA, Societe Generale, and BNP Paribas are up between 1.3% and 2.2%.
Italy's MIB has jumped 1.6% with help from financials. Banca Pop Emilia Romagna, UniCredit, UBI Banca, FinecoBank, Banco Bpm, Intesa Sanpaolo, and Banca Generali show gains between 1.4% and 4.2%.

08:26AM ET

[BRIEFING.COM] S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +19.60.

U.S. equity futures continue holding modest gains after spending the night in a slow climb. Similarly, the U.S. Dollar Index (96.08, +0.45) is up 0.5% thanks to a steady advance, which puts the index on track to record its second consecutive gain after marking a fresh 2017 low on Friday. With today's uptick, the index has returned near its closing level from Wednesday.

The dollar could see some more movement later this morning, when the Construction Spending report for May (Briefing.com consensus 0.3%) and the ISM Index for June (Briefing.com consensus 55.0) cross the wires at 10:00 ET.

Treasuries hover near the top of their overnight ranges with the 10-yr yield flat at 2.30%.

08:00AM ET

[BRIEFING.COM] S&P futures vs fair value: +8.10. Nasdaq futures vs fair value: +18.40.

After finishing the first half of 2017 on a woeful note, the second half of the year is set to begin on a modestly higher note as the S&P 500 futures hover eight points above fair value. Today's affair is not expected to particularly active, considering the Wall Street session will end at 13:00 ET and the market will be closed tomorrow for Independence Day.

Overnight action has featured a modest rally in crude oil, which is up 0.4% at $46.20/bbl, rising despite a 0.5% uptick in the U.S. Dollar Index (96.11, +0.48).

Treasuries are little changed with the 10-yr yield hovering at 2.31%.

Today's economic calendar features the 10:00 ET release of May Construction Spending and June ISM Index while June auto and truck sales will be reported throughout the abbreviated session.

In U.S. corporate news of note:

Bankrate (RATE 13.75, +0.90): +7.0% after agreeing to be acquired by Red Ventures for $14 per share in cash. This translates to an enterprise value of $1.40 billion.
Tesla (TSLA 369.00, +7.39): +2.0% after CEO Elon Musk announced that regulators have approved the Model 3 for production. The company expects to manufacture 100 vehicles in August and more than 1,500 in September.

Reviewing overnight developments:

Asian markets ended modestly higher. Japan's Nikkei +0.1%, Hong Kong's Hang Seng +0.1%, and China's Shanghai Composite +0.1%.
In economic data:
China's June Caixin Manufacturing PMI 50.4 (expected 49.5; last 49.6)
Japan's Q2 Tankan Large Non-Manufacturers Diffusion Index 18 (expected 20; last 16) and Large Manufacturers Index 17 (expected 15; last 12). June Manufacturing PMI 52.4 (expected 52.0; last 52.0). June Household Confidence 43.3 (expected 43.9; last 43.6)
South Korea's June Nikkei Manufacturing PMI 50.1 (last 49.2)
Australia's May Building Approvals -5.6% month-over-month (expected -1.3%; last 4.8%) and May AIG Manufacturing Index 55.0 (last 54.8)
India's June Nikkei Markit Manufacturing PMI 50.9 (last 51.7)
In news:
In Japan, Yuriko Koike won the Tokyo gubernatorial election despite not having support of the ruling LDP

Major European indices trade in the green. UK's FTSE +0.3%, Germany's DAX +0.6%, and France's CAC +1.0%.
In economic data:
Eurozone June Manufacturing PMI 57.4 (expected 57.3; last 57.3) and May Unemployment Rate 9.3% (expected 9.2%; last 9.3%)
Germany's June Manufacturing PMI 59.6 (expected 59.3; last 59.3)
UK's June Manufacturing PMI 54.3 (consensus 56.5; previous 56.3)
Italy's June Manufacturing PMI 55.2 (expected 55.3; last 55.1) and May Unemployment Rate 11.3% (consensus 11.1%; last 11.2%)
France's June Manufacturing PMI 54.8 (expected 55.0; last 55.0)
Spain's June Manufacturing PMI 54.7 (expected 55.7; last 55.4)
Swiss June SVME PMI 60.1 (expected 56.5; last 55.6) and May Retail Sales -0.3% year-over-year (consensus -0.8%; last -0.9%)
Among news of note:
Bundesbank President and European Central Bank member Jens Weidmann said that while the ECB agrees that some monetary stimulus is still needed, the degree of needed involvement is being actively discussed.

05:58AM ET

[BRIEFING.COM] S&P futures vs fair value: +7.40. Nasdaq futures vs fair value: +15.60.
05:58AM ET

[BRIEFING.COM] Nikkei

...20056...+22.40

...+0.10%

Hang Seng

...25784...+19.60

...+0.10%

05:58AM ET

[BRIEFING.COM] FTSE

...7345.19...+32.50

...+0.40%

. DAX

...12414.26...+89.10

...+0.70%

04:25PM ET

[BRIEFING.COM] The stock market was on track to end Friday on its session high, but quarter-end selling during the final minutes of the action knocked the key indices off their afternoon highs. The S&P 500 added 0.2%, trimming this week's loss to 0.6%, while the Nasdaq Composite (-0.1%) underperformed, widening its weekly decline to 2.0%. Shielded from this week's underperformance in technology, the Dow Jones Industrial Average (+0.3%) shed just 0.2% for the week. The S&P 500 ended the second quarter with a gain of 2.6% while Dow climbed 3.3% and Nasdaq advanced 3.9%.

Equity indices began the day with modest gains that were a by-product of relative strength in groups like consumer discretionary (+0.6%), industrials (+0.8%), and energy (+0.4%) while top-weighted sectors like financials (-0.1%), technology (-0.1%), and health care (-0.1%) could not stay away from their flat lines. The three influential groups reluctantly followed the market higher in the afternoon, but a wave of selling in the final minutes of the session knocked the market to lows.

The discretionary sector received an early boost from NIKE (NKE 59.00, +5.83) after the apparel heavyweight beat fourth quarter expectations. The company issued cautious revenue guidance for the first quarter, but its top-line outlook for the full year was in line with expectations. In addition to reporting results, NIKE announced a pilot program to begin selling its products on Amazon (AMZN 968.00, -7.93). Shares of NIKE soared 11.0%, helping the Dow Jones Industrial Average spend the day ahead of its peers. Apparel retailers had a good showing overall and the SPDR S&P Retail ETF (XRT 40.74, +0.26) rose 0.6%.

Like the discretionary sector, industrials outperformed throughout the day. Transport stocks fueled the rally as the Dow Jones Transportation Average climbed 0.9%, extending its June gain to 4.4%.

The energy sector (+0.4%) was not far behind, catching a bid amid a 2.6% spike in crude oil, which jumped to $46.03/bbl and snapped its five-week skid. WTI crude gained 7.0% for the week while the energy sector advanced 0.7%, finishing only behind financials (week-to-date +3.3%).

The lightly-weighted materials sector (+0.5%) also finished ahead of the broader market while the remaining groups settled closer to their flat lines. Technology saw an intraday gain, which vanished during the late-afternoon slide. Micron (MU 29.86, -1.61) reported better than expected quarterly results, but the stock slid 5.1% nonetheless. The broader PHLX Semiconductor Index fell 0.5%, losing 4.9% for the week.

Treasuries held modest losses in morning action before retreating into the close. The benchmark 10-yr yield rose three basis points to 2.30%.

Economic data included Personal Income/Spending, Chicago PMI, and Michigan Sentiment:

Personal income increased 0.4% in May (Briefing.com consensus +0.3%) after a downwardly revised 0.3% increase (from 0.4%) for April. Personal spending was up 0.1%, as expected, following an unrevised 0.4% increase in April. The core PCE Price Index, which excludes food and energy, increased 0.1%, as expected.
The key takeaway is that inflation moved away from the Fed's longer-run inflation target of 2.0%, not toward it as the Fed is anticipating. That will help solidify the market's belief that the Fed doesn't have enough data-based scope to raise the fed funds rate until perhaps its December meeting at the earliest.
The Chicago Business Barometer, otherwise known as the Chicago Purchasing Managers Index, jumped to 65.7 in June (Briefing.com consensus 57.8) from 59.4 in May.
The key takeaway from the report is that the New Orders Index served as the springboard for the June jump, rising from 61.4 to 71.9 and signaling solid manufacturing demand in the Chicago Fed region.
The University of Michigan's Index of Consumer Sentiment was revised from the preliminary reading of 94.5 for June to 95.1 with the final reading. The latter was above the briefing.com consensus estimate of 94.7, but below the final May reading of 97.1.
The key takeaway from the report is that consumer confidence has dipped to its lowest level since the election, yet it still remains at favorable levels as the average level of 96.8 for the first half of the year was the best half-year average since the second half of 2000.

Monday's economic data will feature the 10:00 ET release of May Construction Spending and June ISM Index while June auto and truck sales will be reported throughout the abbreviated session, which will end at 13:00 ET.

Nasdaq Composite +14.1% YTD
S&P 500 +8.2% YTD
Dow Jones Industrial Average +8.0% YTD
Russell 2000 +4.3% YTD

Week In Review: Nasdaq Stumbles

The stock market endured some volatility, which resulted in a lower finish for the major indices. Relative weakness among technology stocks sent the Nasdaq Composite down 2.0% for the week while the S&P 500 surrendered 0.6%. The price-weighed Dow Jones Industrial Average (-0.2%) ended the week little changed.

The influential financial sector opened the week on a positive note, ending its four-session losing streak with a gain of 0.5%. However, negative performances from the heavily-weighted technology and health care groups mitigated the bullish influence of financials, leaving the benchmark index just a tick above its unchanged mark. Meanwhile, crude oil registered its third-consecutive win, climbing 0.8%.

Things got a bit more interesting on Tuesday, especially in the global bond market, where sovereign yields jumped after European Central Bank President Mario Draghi provided an upbeat assessment of eurozone inflation and growth trends. The financial group outperformed, once again, amid a steepening of the yield curve, but the ten remaining sectors finished in the red with the technology group pacing the retreat.

The midweek session brought some relief as investors bought the dip and put the S&P 500 back at its flat line for the week. The financials and technology sectors led the charge, but strength was broad-based with nine sectors settling in the green. The improvement in risk sentiment came after the ECB said that Mr. Draghi's Tuesday remarks were misinterpreted as hawkish while they were meant to strike a balance. However, longer-dated Treasuries and German bunds held their ground.

The relief rally didn't last long as the market reversed and set a fresh low for the week on Thursday. The technology sector fell to heavy profit-taking, dropping 1.8%. Selling was broad-based with only the financials and energy spaces escaping the session with wins. Banks underpinned the financial group after the Federal Reserve approved the capital plans of all 34 banks required to partake in the annual stress test.

Thursday also saw more selling in the global bond market. Treasuries tumbled in a curve-steepening trade while German bunds slid following hotter than expected inflation data out of Germany.

Friday's session featured a weak rebound in the broader market, as financials, health care, and technology struggled. NIKE (NKE) surged more than 10.0% after beating earnings expectations, which helped keep the market above water.

The fed funds futures market still points to the December FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 54.4%, up from last week's 51.3%.

Dow: +62.60… | Nasdaq: -3.93… | S&P: +3.71…

NASDAQ Adv/Dec 1343/1375. …NYSE Adv/Dec 1791/1118

Image Review of TheStrategyLab @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167

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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)
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