TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 2:28 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: July 5th Wednesday Trade Results - Profits $2475.00
PostPosted: Wed Jul 05, 2017 6:48 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
TheStrategyLab Reviews: http://www.thestrategylab.com/thestrategylab-reviews.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
070517-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2475.00.png
070517-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2475.00.png [ 95.67 KiB | Viewed 436 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 @ $2475.00 dollars or +49.50 points, Light Crude Oil CL ($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 @ $2475.00 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=2592

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.

Attachment:
070517-Key-Price-Action-Markets.png
070517-Key-Price-Action-Markets.png [ 838.83 KiB | Viewed 280 times ]

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

The Market at 04:25PM ET
Dow: -1.10… | Nasdaq: +40.80… | S&P: +3.53…
NASDAQ Vol: 1.87 bln… Adv: 1115… Dec: 1664…
NYSE Vol: 886.2 mln… Adv: 1151… Dec: 1782…

Moving the Market

Investors take FOMC Minutes from June meeting in stride

Semiconductor & biotech names outperform, underpin Nasdaq Composite

Crude oil slips on reports that Russia will oppose deeper supply cuts

Sector Watch
Strong: Technology, Health Care, Financials, Industrials
Weak: Consumer Discretionary, Energy, Consumer Staples, Materials, Utilities, Telecom Services, Real Estate
04:25PM ET

[BRIEFING.COM] The benchmark S&P 500 (+0.2%) registered its second win of the week on Wednesday, settling near the top of its trading range, but activity was subdued with only 886.2 million shares changing hands at the NYSE floor following the July Fourth holiday. The Nasdaq (+0.7%) outperformed while the Dow (unch) lagged, finishing just a tick below its unchanged mark. Also of note, the small-cap Russell 2000 underperformed, settling lower by 0.5%.

Investors got their hands on the minutes from the June 13-14 FOMC meeting on Wednesday afternoon, but the initial reaction was muted as the minutes did little to change the market's rate-hike expectations; 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 64.8%, which is slightly higher than Monday's reading of 62.2%.

In the minutes, Fed members seemed generally upbeat about economic activity and attributed the recent softness in inflation to idiosyncratic factors. In addition, Fed officials were divided on when to start unwinding the central bank's balance sheet; several preferred to start the process within a couple of months while others wanted to defer the decision until later in the year.

Looking ahead, inflation data, like the CPI Report and the average hourly earnings growth seen in the monthly employment reports, will take on an increasingly important role in guiding the market's thinking about when the Fed will next raise the target range for the fed funds rate and start reducing reinvestment of the Fed's securities holdings.

The Employment Situation Report for June (Briefing.com consensus 173,000), which includes average hourly earnings (Briefing.com consensus +0.3%), will be released on Friday morning at 8:30 ET.

In the equity market, the top-weighted technology sector (+1.0%) was able to reclaim all of Monday's slide on Wednesday, providing solid sector leadership from start to finish amid broad strength. Chipmakers showed notable strength, sending the PHLX Semiconductor Index higher by 2.1%, as did mega-cap names like Microsoft (MSFT 69.08, +0.91), Facebook (FB 150.34, +1.91), and Alphabet (GOOGL 932.26, +12.80).

Biotech names also had a solid showing, evidenced by the 1.4% increase in the iShares Nasdaq Biotechnology ETF (IBB 315.29, +4.34), helping to keep the influential health care sector (+0.5%) near the top of the day's leaderboard. The financials (+0.2%) and industrials (+0.3%) spaces also finished in positive territory.

The seven laggards--consumer discretionary (-0.2%), energy (-1.3%), materials (-0.4%), consumer staples (-0.1%), utilities (-0.4%), telecom services (-0.4%), and real estate (-1.2%)--put up a good fight, but were ultimately no match for the technology, health care, financials, and industrials sectors, which represent around 60.0% of the broader market combined.

Crude oil weighed heavily on the energy sector, dropping 4.2% to $45.10/bbl, following reports that Russia will oppose any proposals to deepen the existing production-cut agreement. In addition, news that OPEC exports increased by 450,000 barrels per day month-over-month in June also acted as a bearish catalyst. The loss ended the commodity's longest bull-run in more than five years.

In the bond market, the 10-yr yield slipped two basis points to 2.33% while the 2-yr yield settled unchanged at 1.41%. Treasuries gave back their modest gains immediately following the release of the FOMC minutes, but eventually closed in the green near their best marks of the day.

Reviewing Wednesday's economic data, which was limited to the Factory Orders Report for May:

The Factory Orders Report for May showed a decrease of 0.8%, which is below the Briefing.com consensus of -0.5%. The April reading was revised to -0.3% (from -0.2%).
The key takeaway from the report is that order and shipments activity for nondefense capital goods excluding aircraft were higher than first reported and will improve the expected contribution to Q2 GDP growth forecasts.

On Thursday, investors will receive a slew of economic reports, including the weekly MBA Mortgage Applications Index at 7:00 ET, June Challenger Job Cuts at 7:30 ET, June ADP Employment Change (Briefing.com consensus 185,000) at 8:15 ET, the weekly Initial Claims Report (Briefing.com consensus 244,000) at 8:30 ET, May Trade Balance (Briefing.com consensus -$46.1 billion) at 8:30 ET, and June ISM Services (Briefing.com consensus 56.6) at 10:00 ET.

Dow: -1.10… | Nasdaq: +40.80… | S&P: +3.53…

NASDAQ Adv/Dec 1115/1664. …NYSE Adv/Dec 1151/1782.

03:00PM ET

[BRIEFING.COM] The major averages hover in the upper half of today's trading range moving into the final hour of action. The Nasdaq (+0.6%) trades comfortably ahead of the benchmark S&P 500 (+0.1%) while the Dow Jones Industrial Average (-0.1%) lags.

Only four of the eleven sectors--technology (+1.1%), health care (+0.5%), financials (+0.2%), and industrials (+0.2%)--are trading in the green this afternoon, however, those four groups comprise around 60.0% of the broader market combined. The energy and real estate sectors are the weakest performers, dropping 1.6% and 1.3%, respectively, while the remaining laggards hold losses of no more than 0.6%.

Elsewhere, the fed funds futures market has taken the FOMC Minutes from the Jun 13-14 meeting in stride and still points to the December FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 64.2%, slightly higher than Monday's 62.2%.

Dow: -7.96… | Nasdaq: +38.75… | S&P: +3.39…

NASDAQ Adv/Dec 1130/1702. …NYSE Adv/Dec 1034/1899.

02:45PM ET

[BRIEFING.COM] Commodities end the day noticeably lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.94% at 82.3230
WTI crude futures got pummeled on the day.
Futures settled $1.97 lower to $45.10/barrel.
In other energy, July natural gas sold off with the rest of energy and finished down $0.111 to settle at $2.849/MMBtu
Metals did not perform much better...
While June gold gained $2.40 to settle at $1221.60/oz, July silver dropped $0.192 to $15.90/oz and July copper lost $0.033 to $2.693/lb

Dow: -0.59… | Nasdaq: +49.90… | S&P: +4.96…

NASDAQ Adv/Dec 1196/1641. …NYSE Adv/Dec 1078/1845.

02:30PM ET

[BRIEFING.COM] Equity indices were undeterred by the FOMC Minutes from the June 13-14 meeting, which were released at the top of the hour, and currently trade near their best marks of the day. The S&P 500 is sporting a modest gain of 0.2%.

The FOMC Minutes showed that most Fed officials attributed the recent softness in inflation to idiosyncratic factors, but others expressed concern that the trend might persist. In addition, participants were divided on when to start unwinding the central bank's balance sheet; several preferred to start the process within a couple of months while others wanted to defer the decision until later in the year.

U.S. Treasuries have slipped back to their flat lines after holding modest gains ahead of the release; the benchmark 10-yr yield is unchanged at 2.34%. Meanwhile, the U.S. Dollar Index (96.17, +0.18) has extended its modest gain to 0.2%.

Dow: +1.74… | Nasdaq: +49.51… | S&P: +6.51…

NASDAQ Adv/Dec 1180/1635. …NYSE Adv/Dec 1091/1829.

01:55PM ET

[BRIEFING.COM] The major averages are hovering just a tick below their session highs. The S&P 500 is up 0.1%.

Transports are currently outperforming the benchmark index, sending the Dow Jones Transportation Average higher by 0.4%, with airline names like Alaska Air (ALK 92.27, +2.05) United Continental (UAL 76.28, +1.20), and Southwest Airlines (LUV 63.21, +1.14) leading the charge; the three names show gains between 1.6% and 2.2%. A win today would mark the third in a row, and a new record high, for the DJTA.

The FOMC minutes from the Jun 13-14 meeting will be released shortly at 14:00 ET.

Dow: -2.32… | Nasdaq: +38.66… | S&P: +3.80…

NASDAQ Adv/Dec 1143/1679. …NYSE Adv/Dec 1045/1875.

01:35PM ET

[BRIEFING.COM] The major U.S. indices currently sport modest gains as traders return from the Independence Day break.

A look inside the Dow Jones Industrial Average shows that Microsoft (MSFT 69.38, +1.21), Boeing (BA 201.70, +3.11), & Intel (INTC 33.98, +0.52) are outperforming. Microsoft is leading the Dow as the technology sector leads stocks higher, while Boeing and other defense names display relative strength amid ongoing tensions between the United States & North Korea.

Conversely, Nike (NKE 57.63, -1.02) is the worst-performing Dow component as investors take profits following last week's earnings/news-driven spike higher.

On the heels of Monday's abbreviated session, the DJIA is currently up 0.62% to start July.

Dow: +3.02… | Nasdaq: +42.93… | S&P: +4.54…

NASDAQ Adv/Dec 1174/1658. …NYSE Adv/Dec 1040/1867.

01:05PM ET

[BRIEFING.COM] The stock market has been sluggish throughout the first half of Wednesday's session as investors begrudgingly return to their trading desks following yesterday's Fourth of July celebrations. The S&P 500 is currently hovering near the top of today's trading range with a modest gain of 0.2%. Meanwhile, the tech-heavy Nasdaq (+0.6%) outperforms and the small-cap Russell 2000 (-0.7%) lags.

Only four of the eleven sectors--technology (+0.9%), financials (+0.2%), health care (+0.4%), and industrials (+0.2%)--are trading in the green this afternoon, however, those four groups are heavily-weighted, representing around 60.0% of the broader market combined. Thus far, the advancers have done enough to outweigh the laggards, which hold losses between 0.1% (consumer staples) and 1.0% (energy).

The top-weighted technology sector has been bullish since the start of today's session and is currently trading at the top of the day's leaderboard amid broad strength. Chipmakers have exhibited particular strength, pushing the PHLX Semiconductor Index higher by 1.4%. Mega-cap names like Microsoft (MSFT 69.26, +1.09) and Alphabet (GOOGL 930.71, +11.24) also outperform, adding 1.6% and 1.2%, respectively.

Similarly, most of the health care sector's components are trading in the green with biotechnology names leading the charge; the iShares Nasdaq Biotechnology ETF (IBB 313.80, +2.85) is higher by 0.9%.

On the flip side, the energy space (-1.0%) has struggled since the opening bell amid a negative performance from crude oil, which is currently down 3.6% at $45.39/bbl. The energy component has faced heavy selling pressure following reports that Russia will oppose any proposals to deepen the existing production-cut agreement and news that OPEC exports increased by 450,000 barrels per day month-over-month in June.

In U.S. corporate news, automotive retailers have plunged across the board after O'Reilly Automotive (ORLY 177.62, -42.79) reported that second quarter same store sales came in at +1.7%, which is a ways off from the prior guidance of +3.0%-5.0%. ORLY shares are down 19.4% and trade at their worst mark since November 2014.

The FOMC Minutes from the June 13-14 meeting will be a focal point this afternoon with investors hoping that the report will provide further details on the Fed's plan to pare its balance sheet and the timing of future rate hikes. The report will cross the wires at 14:00 ET.

It's also worth pointing out that North Korea successfully tested an intercontinental ballistic missile on Tuesday. On a related note, aerospace and defense names like Boeing (BA 201.39, +2.81) and Lockheed Martin (LMT 283.14, +4.22) have outperformed today, adding 1.5% apiece.

Reviewing today's economic data, which was limited to the Factory Orders Report for May:

The Factory Orders Report for May showed a decrease of 0.8%, which is below the Briefing.com consensus of -0.5%. The April reading was revised to -0.3% (from -0.2%).
The key takeaway from the report is that order and shipments activity for nondefense capital goods excluding aircraft were higher than first reported and will improve the expected contribution to Q2 GDP growth forecasts.

Dow: +0.13… | Nasdaq: +37.08… | S&P: +4.52…

NASDAQ Adv/Dec 1107/1720. …NYSE Adv/Dec 974/1919.

12:25PM ET

[BRIEFING.COM] Equity indices have been trending sideways as of late with the benchmark S&P 500 (+0.1%) staying true to a three-point range over the last hour of action.

Investors are hoping that the FOMC Minutes from the June 13-14 meeting, which will be released at 14:00 ET, will provide further details on the Fed's plan to pare its balance sheet and the timing of future rate hikes. According to the most recent dot plot, the median FOMC member expects one additional rate hike in 2017. However, the market remains skeptical with the CME FedWatch tool pointing to the December FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 61.7%.

In the currency market, the U.S. Dollar Index (96.11, +0.12) trades just a tick above its unchanged mark with the greenback adding 0.1% against the euro (1.1334).

Dow: -11.15… | Nasdaq: +29.21… | S&P: +2.58…

NASDAQ Adv/Dec 1029/1803. …NYSE Adv/Dec 863/2033.

12:00PM ET

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

Despite Amazon's (AMZN 965.92, +12.26) solid advance of 1.3%, the consumer discretionary sector (-0.5%) has struggled today amid broad weakness. Automotive retail names have plunged across the board after O'Reilly Automotive (ORLY 175.40, -45.01) reported that second quarter same store sales came in at +1.7%, which is a ways off from the prior guidance of +3.0%-5.0%. ORLY shares are down 20.7% and trade at their worst mark since November 2014.

Unsurprisingly, the SPDR S&P Retail ETF (XRT 40.35, -0.67), which has several automotive retail components, has tumbled 1.6%. Still, despite today's slip, the XRT has added 3.8% since hitting a multi-month low on June 21.

Dow: -16.43… | Nasdaq: +25.02… | S&P: +1.51…

NASDAQ Adv/Dec 1011/1795. …NYSE Adv/Dec 838/2045.

11:30AM ET

[BRIEFING.COM] Equity indices are hovering in the upper half of today's trading range with the S&P 500 sporting a gain of 0.1%.

Chipmakers are looking to break their three-session slide today and have sent the PHLX Semiconductor Index higher by 1.3%. Micron (MU 30.23, +1.09) and NVIDIA (NVDA 142.90, +3.53) are among the strongest semiconductor names, adding 3.8% and 2.4%, respectively. The semiconductor industry's positive performance has helped the top-weighted technology sector (+0.8%) trade comfortably ahead of the broader market.

In the bond market, U.S. Treasuries are trading in the green with the benchmark 10-yr yield dropping two basis points to 2.33%. Still, despite today's positive performance, the 10-yr Treasury Note is hovering near its worst mark since the middle of May.

Dow: -11.66… | Nasdaq: +30.57… | S&P: +2.77…

NASDAQ Adv/Dec 1076/1734. …NYSE Adv/Dec 823/2056.

10:55AM ET

[BRIEFING.COM] The S&P 500 (unch) has refused to deviate from its flat line and has hovered within a ten-point range since the opening bell. Meanwhile, the tech-heavy Nasdaq (+0.3%) has exhibited relative strength.

Six of the eleven sectors are currently trading in the red with losses ranging between 0.4% and 1.2%. The energy sector (-1.2%) is the weakest group as crude oil extends its loss to 3.6% amid reports that Russia isn't on board with further supply cuts and the added news that OPEC exports increased 450,000 barrels per day month-over-month in June. WTI crude trades at a price of $45.31/bbl.

On the flip side, the top-weighted technology sector outperforms with a solid gain of 0.7%. The influential health care sector has also exhibited relative strength, jumping 0.3%, with biotech names leading the charge. The iShares Nasdaq Biotechnology ETF (IBB 313.28, +2.33) is up 0.8%.

Dow: -21.38… | Nasdaq: +26.09… | S&P: +1.64…

NASDAQ Adv/Dec 1072/1708. …NYSE Adv/Dec 825/2015.

10:45AM ET

[BRIEFING.COM] Commodities are beginning the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are down 1% at 82.2534
Dollar index has seen strength and trades up 0.14 % at 96.34
Looking at energy...
Oil futures have finally are seeing a down session following reports that Russia is not interested in further OPEC-led supply cuts.
August WTI crude oil futures are now $1.64 at $45.43/barrel
In other energy,
June natural gas is down $0.069 at $2.882/MMBtu
Metals are down across the board...
Aug gold is down $2.70 at $1221.90/oz, while July silver is down $0.157 at $15.935/oz
July copper is down 0.0375 at $2.6435/lb

Dow: -31.81… | Nasdaq: +17.14… | S&P: -1.37…

NASDAQ Adv/Dec 1081/1719. …NYSE Adv/Dec 807/2025.

10:00AM ET

[BRIEFING.COM] The major averages have ticked down from their opening levels. The S&P 500 now shows a loss of 0.1%.

Just in, the Factory Orders Report for May showed a decrease of 0.8%, which is below the Briefing.com consensus of -0.5%. The April reading was revised to -0.3% (from -0.2%).

Dow: -46.44… | Nasdaq: +2.78… | S&P: -2.06…

NASDAQ Adv/Dec 958/1768. …NYSE Adv/Dec 786/1958.

09:45AM ET

[BRIEFING.COM] The S&P 500 opens Wednesday's session flat while the tech-heavy Nasdaq (+0.2%) shows relative strength.

More than half of the S&P 500's 11 sectors are trading in the red this morning, but the top-weighted technology sector has kept the broader market afloat with a sizable gain of 0.7%. Chipmakers are among the tech sector's top-performing components, evidenced by the 1.4% increase in the PHLX Semiconductor Index.

Treasuries are trading flat ahead of the 10:00 ET release of the Factory Orders Report for May (Briefing.com consensus -0.5%). The benchmark 10-yr yield is unchanged at 2.35%.

Dow: -27.93… | Nasdaq: +9.82… | S&P: -0.44…

NASDAQ Adv/Dec 908/1747. …NYSE Adv/Dec 786/1920.

09:19AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +15.60.

Equity futures are pointing to a modestly higher open for the equity market this morning following yesterday's July 4 celebrations. The S&P 500 futures trade three points, or 0.1%, above fair value.

News that North Korea successfully tested an intercontinental ballistic missile that can reach the U.S. state of Alaska has yet to induce selling pressure on Wall Street this morning. The U.S. and South Korea fired a barrage of missiles along the eastern coast of the Korean Peninsula in response while the UN Security Council has called an emergency session.

Crude oil is in danger of ending its longest winning streak since 2010 following reports that Russia will oppose any proposals to deepen the current OPEC/non-OPEC production-cut agreement. The commodity is down 0.9% at $46.63/bbl and will likely act as a bearish influence on the S&P 500's energy sector at today's opening bell.

In U.S. corporate news, O'Reilly Automotive (ORLY 199.86, -20.55) is down 9.3% after the company said that its second quarter comparable sales rose 1.7% versus prior guidance of 3.0% to 5.0% due in part to "overall weak consumer demand." Conversely, Johnson & Johnson (JNJ 134.83, +1.93) is up 1.5% after the company's target price was raise to $140 from $135 at Morgan Stanley.

Market participants have their eyes on the FOMC minutes from the June 13-14 meeting, which will be released this afternoon at 14:00 ET, hoping that the report will provide further details on the timing and scope of the Fed's plan to pare its balance sheet. In addition, investors will receive the Factory Orders Report for May (Briefing.com consensus -0.5%) at 10:00 ET.

U.S. Treasuries are trading flat across the curve with the benchmark 10-yr yield unchanged at 2.35%. Meanwhile, the U.S. Dollar Index (96.17, +0.18) is up 0.2%.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +12.00.

The S&P 500 futures trade four points, or 0.1%, above fair value.

Equity indices in the Asia-Pacific region ended Wednesday on a higher note, overcoming a weak start that followed North Korea's latest missile test, which the U.S. and South Korea answered by firing a barrage of missiles along the eastern coast of the Korean Peninsula. Russia and China also responded to North Korea's missile test, calling the action "unacceptable." In central bank news, the People's Bank of China released its quarterly statement, which reaffirmed commitment to prudent and neutral monetary policy. Elsewhere, the Reserve Bank of Australia left its cash rate at 1.50%, as expected.

In economic data:
China's June Caixin Services PMI 51.6 (expected 52.9; last 52.8)
New Zealand's GDT Price Index -0.4% (last -0.8%) and ANZ Commodity Price Index +2.1% month-over-month (last 3.2%)
India's June Nikkei Services PMI 53.1 (last 52.2)

---Equity Markets---

Japan's Nikkei added 0.3%. SUMCO jumped 5.0% while Dainippon Screen Manufacturing, Tokyo Electron, Tosoh, Kobe Steel, Mitsubishi, Advantest, Toyota, Sapporo Holdings, and Komatsu gained between 1.2% and 4.0%. On the downside, J Front Retailing, Fast Retailing, Kikkoman, and Japan Tobacco lost between 0.7% and 0.9%.
Hong Kong's Hang Seng rose 0.5%. Ping An Insurance led, jumping 4.1% while other financials like China Life Insurance, AIA Group, Bank of China, BoC Hong Kong, and HSBC advanced between 0.4% and 2.1%.
China's Shanghai Composite climbed into the close, advancing 0.8%. Shanxi Coking, Xiamen Tungsten, Henan Oriental Silver Star Investment, Yunnan Jinggu Forestry, Shandong Bonhui Paper, and Fangda Carbon New Material climbed between 4.4% and 8.1%.
India's Sensex edged up 0.1%. Lupin, Mahindra&Mahindra, Oil & Natural Gas, and Asian Paints rallied between 1.6% and 3.8% while tech consultants lagged. Tata Consultancy, Wipro, and Infosys lost between 0.3% and 1.0%.

Major European indices trade modestly higher while the euro is off 0.2% against the dollar at 1.1323. European Central Bank member Benoit Coeure said that the discussion about changing policy may happen, but hasn't taken place yet. Italian Finance Minister Pier Carlo Padoan said that the country's government has received approval to inject 5.40 billion euros into Banca Monte dei Paschi di Siena.

In economic data:
Eurozone June Services PMI 55.4 (expected 54.7; last 54.7). May Retail Sales +0.4% month-over-month (expected 0.3%; last 0.1%); +2.6% year-over-year (consensus 2.3%; last 2.6%)
UK's June Services PMI 53.4 (expected 53.5; last 53.8)
Germany's June Services PMI 54.0 (consensus 53.7; last 53.7)
France's June Services PMI 56.9 (expected 55.3; last 55.3)
Italy's June Services PMI 53.6 (expected 54.6; last 55.1)
Spain's June Services PMI 58.3 (consensus 56.5; previous 57.3)

---Equity Markets---

France's CAC trades up 0.3% with financials like Societe Generale, AXA, BNP Paribas, and Credit Agricole rising between 0.4% and 1.3%. Energy-related names like Total and TechnipFMC lag with respective losses of 1.0% and 1.3%.
UK's FTSE is higher by 0.2% with consumer names showing relative strength. Tesco, Morrison Supermarkets, British American Tobacco, Carnival, Next and homebuilders like Persimmon, Barratt Developments, and Taylor Wimpey are up between 0.7% and 4.6%. On the downside, Lloyds Banking, Barclays, Old Mutual, and RBS are down between 0.2% and 1.2%.
Germany's DAX has added 0.2%. Adidas leads with a spike of 5.3% in reaction to upbeat analyst comments. Deutsche Bank, Deutsche Boerse, Commerzbank, Lufthansa, and Siemens are up between 0.4% and 2.0%. BMW is the weakest performer, falling 1.0%, while peers Volkswagen and Daimler hold respective losses of 0.5% and 0.9%.

08:29AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +6.10.

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

Today's biggest item of interest will likely be the FOMC minutes from the June 13-14 meeting, which will be released this afternoon at 14:00 ET. Details on the timing and scope of the Fed's plan to pare its balance sheet will be of particular interest to the market, especially in light of persistently weak inflation readings. In addition, investors will be interested to hear the Fed's perspective on international developments as central bankers elsewhere have started to pay lip service to the possibility of dialing back their policy stimulus.

Currently, the feds funds futures market projects that the next rate hike will occur at the December FOMC meeting with an implied probability of 57.5%.

08:00AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: -4.10.

Equity futures are trading fairly flat this morning as investors head back to their trading desks following the July 4 holiday. The S&P 500 futures trade one point above fair value.

Crude oil is down 1.1% at $46.57/bbl following reports that Russia will oppose any proposals to deepen supply cuts beyond the existing OPEC/non-OPEC agreement. The commodity is currently in the midst of its longest winning streak since 2010 and trades 8.7% above its June 21 closing price.

U.S. Treasuries are trading slightly higher across the curve with the benchmark 10-yr yield slipping one basis point to 2.34%. Meanwhile, the U.S. Dollar Index (96.12, +0.13) is sporting a slight gain of 0.1%.

On the data front, investors will receive May Factory Orders (Briefing.com consensus -0.5%) and the FOMC Minutes from the June 13-14 meeting. The two reports will cross the wires at 10:00 ET and 14:00 ET, respectively.

In U.S. corporate news:

Oracle (ORCL 49.64, +0.28): +0.6% after the company's stock was upgraded to 'Overweight' from 'Sector Weight' at KeyBanc Capital Markets.
Tesla (TSLA 348.40, -4.22): -1.2% after the company's target price was lowered to $180 from $190 at Goldman.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a higher note. Japan's Nikkei +0.3%, Hong Kong's Hang Seng +0.5%, China's Shanghai Composite +0.8%, India's Sensex +0.1%.
In economic data:
China's June Caixin Services PMI 51.6 (expected 52.9; last 52.8)
New Zealand's GDT Price Index -0.4% (last -0.8%) and ANZ Commodity Price Index +2.1% month-over-month (last 3.2%)
India's June Nikkei Services PMI 53.1 (last 52.2)
In news:
Responding to North Korea's latest missile test, the U.S. and South Korea fired a barrage of missiles along the eastern coast of the Korean Peninsula. Russia and China also responded to North Korea's missile test, calling the action "unacceptable."
In central bank news, the People's Bank of China released its quarterly statement, which reaffirmed commitment to prudent and neutral monetary policy. Elsewhere, the Reserve Bank of Australia left its cash rate at 1.50%, as expected.

Major European indices trade near their flat lines while the euro is off 0.1% against the dollar at 1.1337. France's CAC +0.3%, UK's FTSE +0.2%, Germany's DAX +0.1%.
In economic data:
Eurozone June Services PMI 55.4 (expected 54.7; last 54.7). May Retail Sales +0.4% month-over-month (expected 0.3%; last 0.1%); +2.6% year-over-year (consensus 2.3%; last 2.6%)
UK's June Services PMI 53.4 (expected 53.5; last 53.8)
Germany's June Services PMI 54.0 (consensus 53.7; last 53.7)
France's June Services PMI 56.9 (expected 55.3; last 55.3)
Italy's June Services PMI 53.6 (expected 54.6; last 55.1)
Spain's June Services PMI 58.3 (consensus 56.5; previous 57.3)
In news:
European Central Bank member Benoit Coeure said that the discussion about changing policy may happen, but hasn't taken place yet.
Italian Finance Minister Pier Carlo Padoan said that the country's government has received approval to inject 5.40 billion euros into Banca Monte dei Paschi di Siena.

05:53AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: -23.80.
05:53AM ET

[BRIEFING.COM] Nikkei

...20082...+49.30

...+0.30%

Hang Seng

...25522...+133.00

...+0.50%

05:53AM ET

[BRIEFING.COM] FTSE

...7353.59...-3.60

...-0.10%

DAX

...12438.98...+1.90...+0.00%

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

Image TheStrategyLab Review @ http://www.thestrategylab.com/thestrategylab-reviews.htm

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


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr