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 Post subject: July 7th Friday Trade Results - No Trades
PostPosted: Fri Jul 07, 2017 11:25 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
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Quote:
No trades today because this year 2017 I wanted to do randomly 20 days off from trading and off from studying the markets. Thus, a day of rest to make it a 3 day weekend. Also, my doctors believe it will give my mind/body some rest from the stresses of trading.

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 04:30PM ET
Dow: +94.30… | Nasdaq: +63.61… | S&P: +15.43…
NASDAQ Vol: 1.7 bln… Adv: 1956… Dec: 757…
NYSE Vol: 735.3 mln… Adv: 2027… Dec: 915…

Moving the Market

June Employment Situation Report shows better than expected nonfarm payrolls & stable average hourly earnings

Top-weighted technology sector outperforms amid broad strength

Crude oil slides to fresh one-week low, weighs on energy sector

Sector Watch
Strong: Technology, Consumer Discretionary, Real Estate
Weak: Energy, Telecom Services, Materials, Consumer Staples, Utilities, Health Care, Financials
04:30PM ET

[BRIEFING.COM] Investors rallied around the Employment Situation Report for June on Friday to finish the abbreviated week on a positive note. The Nasdaq led the advance, moving higher by 1.0%, while the S&P 500 and the Dow settled with gains of 0.6% and 0.4%, respectively. All three major averages finished the week modestly higher with the S&P 500 advancing by 0.1%.

The Employment Situation Report for June was well received by the market as it emphasized the economy's modest growth rate with a solid nonfarm payrolls reading (222,000 actual vs 173,000 Briefing.com consensus) while at the same time tempering inflation concerns with a lower than expected average hourly earnings reading (+0.2% actual vs +0.3% Briefing.com consensus). In other words, it was another 'Goldilocks' report that should give the Fed some cause for pause when considering the timing of the next rate hike.

Following the jobs report, the CME FedWatch Tool is still pointing to the December FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 59.1%, down ever so slightly from yesterday's 60.0%.

The S&P 500 opened Friday's session with a modest gain and continued climbing throughout the morning session, eventually settling near its session high. Eight of eleven sectors settled in the green, but none with a greater gain than the top-weighted technology sector (+1.3%), which outperformed from start to finish. The influential financial sector (+0.6%) got off to a slow start, but eventually moved in line with the broader market.

Transports underpinned the industrial sector (+0.8%), sending the Dow Jones Transportation Average (+1.2%) to a new all-time high. The consumer discretionary sector (+0.8%) also outperformed, benefiting from broad strength. The remaining advancers finished with gains ranging from 0.1% (utilities) to 0.7% (real estate).

On the downside, three groups--telecom services (-0.4%), energy (-0.1%), and consumer staples (-0.1%)--finished in the red. Crude oil weighed on the energy sector, dropping 2.9% to $44.25/bbl, following Thursday's EIA inventory report, which showed a rise in U.S. production alongside a surprisingly large drop in crude and gasoline stockpiles.

U.S. Treasuries moved lower in a curve-steepening trade on Friday, increasing the 2yr-10yr spread by one basis point. The benchmark 10-yr yield climbed two basis points to 2.39%, extending its weekly advance to nine basis points.

It's also worth pointing out that U.S. President Donald Trump and Russian President Vladimir Putin reached an agreement on a ceasefire in western Syria in their first face-to-face meeting since Mr. Trump's victory in the 2016 presidential election.

Taking another look at Friday's economic data, which was limited to the Employment Situation Report for June:

May nonfarm payrolls hit 222,000 while the Briefing.com consensus expected a reading of 173,000. The prior month's reading was revised to 152,000 from 138,000. Nonfarm private payrolls added 187,000 while the Briefing.com consensus expected an increase of 175,000. The previous month's reading was revised to 159,000 from 147,000.
The unemployment rate rose to 4.4% (Briefing.com consensus 4.3%). Average hourly earnings increased 0.2% (Briefing.com consensus +0.3%), while the previous month's reading was revised to +0.1% (from +0.2%). The average workweek was reported at 34.5, which is slightly higher than the Briefing.com consensus of 34.4. The previous month's reading was left unrevised at 34.4.
The labor force participation rate increased to 62.8% in June from 62.7% in May.
The key takeaway from the report is that the weak year-over-year growth in average hourly earnings (2.5%) is apt to give the Fed some cause for pause when considering the timing of its next rate hike.

On Monday, investors will receive May Consumer Credit (Briefing.com consensus $12.7 billion) at 15:00 ET.

Nasdaq Composite +14.3% YTD
S&P 500 +8.3% YTD
Dow Jones Industrial Average +8.4% YTD
Russell 2000 +4.3% YTD

Week In Review: Equities Eke Out Slim Gains in an Abbreviated Week

Equity indices kicked off the third quarter on a positive note, finishing the first week of July with modest gains. Trading volume was light as many investors took some extra time off to celebrate the Fourth of July holiday. The S&P 500 added 0.1% while the Nasdaq and the Dow finished with gains of 0.2% and 0.3%, respectively.

The major averages settled mixed in an abbreviated session on Monday. The financials and energy sectors were bullish, finishing at the top of the day's leaderboard, and helped the S&P 500 overcome the top-weighted technology sector's third-consecutive loss. The tech-heavy Nasdaq wasn't so lucky, dropping 0.5%, while the Dow outperformed, hitting a new intraday record high.

U.S. markets were closed on Tuesday in observance of the Fourth of July holiday, but the benchmark index picked up where it left off in the midweek session, registering another modest win with the technology group leading the charge. The minutes from the June 13-14 FOMC meeting were released on Wednesday, but did little to change the market's rate-hike expectations.

In the minutes, Fed members seemed generally upbeat about economic activity and gave the impression that they believe the recent softness in inflation is transitory. In addition, Fed officials were divided on when to start unwinding the Fed's balance sheet; some wanted to start in a couple of months while others preferred to hold off until the end of the year.

Investors pulled back on Thursday, dragging all three major averages into negative territory for the week and leaving the S&P 500 below its 50-day simple moving average for the first time in nearly two months. The market expressed concerns about less accommodative central bankers, evidenced by rising interest rates around the globe. U.S. Treasuries moved in a curve-steepening trade, helping to keep the influential financial sector ahead of the broader market.

The Employment Situation Report for the month of June, which showed the addition of 222,000 nonfarm payrolls (Briefing.com consensus 173,000) and stable hourly earnings (+0.2% vs Briefing.com consensus +0.3%), was the focus of Friday's session. The report was largely seen as another 'Goldilocks' report, pointing to an economy that is growing at a modest rate without the worry of inflation.

Eight of the S&P 500's eleven sectors ended Friday in the green, which was just enough to bring the benchmark index back into positive territory for the week. The technology group was the top-performing sector, benefiting from broad strength. However, the energy group underperformed as crude oil weighed, dropping 2.9%.

WTI crude futures struggled this week, dropping 4.1%, following news that OPEC exports increased in the month of June and headlines that Russia is not in favor of deepening the current OPEC-led production cut agreement. In addition, the weekly inventory report from the Department of Energy, which showed a rise in U.S. production alongside a larger than expected drop in crude and gasoline stockpiles, also prompted selling pressure.

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 59.1%, up from last week's 54.4%.

Dow: +94.30… | Nasdaq: +63.61… | S&P: +15.43…

NASDAQ Adv/Dec 1956/757. …NYSE Adv/Dec 2027/915.

03:05PM ET

[BRIEFING.COM] The major averages hover near the top of their trading ranges for the day moving into the final stretch. The Nasdaq leads with a gain of 1.1% while the S&P 500 and the Dow show respective gains of 0.6% and 0.4%.

Crude oil settled pit trade solidly lower, dropping 2.9% to $44.25/bbl, to end the week with a sizable loss of 4.1%. Multiple headlines weighed on the energy component this week, including news that OPEC exports increased in the month of June and reports that Russia is not in favor of deepening the current OPEC-led production cut agreement. In addition, yesterday's inventory report from the Department of Energy has been cited as a bearish catalyst as it showed a rise in U.S. production.

Unsurprisingly, the energy sector (-0.4%) has been one of the worst-performing sectors this week and currently holds a week-to-date loss of 1.6%. For comparison, the S&P 500 is up 0.1% for the week.

Dow: +87.48… | Nasdaq: +65.06… | S&P: +14.90…

NASDAQ Adv/Dec 1873/918. …NYSE Adv/Dec 1947/971.

02:30PM ET

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

Eight of eleven sectors are trading in the green this afternoon with the top-weighted technology sector (+1.3%) leading the advance by a comfortable margin. The three laggards--energy, telecom services, and consumer staples--hold modest losses of no more than 0.4%. For the week, only the financials, technology, industrials, and materials sectors are on track to settle in positive territory. The financial sector leads with a week-to-date gain of 1.5%.

In the bond market, U.S. Treasuries are lower in a curve-steepening trade, leaving the benchmark 10-yr yield two basis points higher at 2.39%. For the week, the 10-yr yield is higher by nine basis points.

Dow: +94.51… | Nasdaq: +63.29… | S&P: +15.50…

NASDAQ Adv/Dec 1892/887. …NYSE Adv/Dec 1968/955.

02:00PM ET

[BRIEFING.COM] Range-bound action continues with the S&P 500 (+0.7%) staying true to a two-point range over the last hour of trading.

The Dow Jones Transportation Average is trading comfortably ahead of the benchmark index this afternoon with a gain of 1.2%. Nearly all DJTA components are trading in the green, but Kirby (KEX 64.88, -1.43) is struggling, extending its three-day decline to 4.5%. On the flip side, airlines are among the DJTA's top performers, pushing the U.S. Global Jets ETF (JETS 32.51, +0.58) higher by 1.8%. JETS shares are on a five-day winning streak and currently trade at a fresh all-time high.

For the week, the DJTA currently holds a gain of 1.2% while the S&P 500 hovers just a tick above its unchanged mark.

Dow: +100.94… | Nasdaq: +70.99… | S&P: +15.73…

NASDAQ Adv/Dec 1837/922. …NYSE Adv/Dec 1890/1004.

01:25PM ET

[BRIEFING.COM] The major averages remain near their best levels of the day, which puts them on track to end the week with modest gains. The S&P 500 (+0.7%), which ended yesterday's session below its 50-day moving average (2414), has bounced back above that mark while the tech-heavy Nasdaq (+1.1%) outperforms, but has yet to make it above the 50-day average of its own, which resides near 6166, roughly seven points above its current level.

The Nasdaq's outperformance has been fueled by a 1.4% gain in the technology sector, which is on track to add 0.7% for the week. Only three other sectors are currently tracking weekly gains with materials (+0.4%) looking to add 0.5%, industrials (+0.8%) on pace for a gain of 0.7%, and financials (+0.7%) set to end the week higher by 1.7%.

The outperformance among financials has taken place amid a retreat in global bonds, which boosted yields. U.S. Treasuries have not been spared from the curve-steepening selling, which has expanded the 2s10s spread to 99 basis points from last Friday's 93 basis points.

Dow: +96.11… | Nasdaq: +69.78… | S&P: +16.27…

NASDAQ Adv/Dec 1882/885. …NYSE Adv/Dec 1926/981.

01:05PM ET

[BRIEFING.COM] Equity indices have moved above their flat lines for the week in the first half of Friday's session as investors cheer this morning's release of the Employment Situation Report for June. The Nasdaq (+1.1%) is outperforming both the S&P 500 (+0.7%) and the Dow (+0.5%), but all three major averages are currently trading near their best marks of the day.

The Employment Situation Report for June has been taken for another 'Goldilocks' report as it emphasized the economy's modest growth rate with a solid nonfarm payrolls reading (222,000 actual vs 173,000 Briefing.com consensus) while at the same time tempering inflation concerns with a slightly lower than expected average hourly earnings reading (+0.2% actual vs +0.3% Briefing.com consensus).

In addition, the June jobs report also showed that Nonfarm private payrolls added 187,000 (Briefing.com consensus 175,000), the unemployment rate ticked up to 4.4% (Briefing.com consensus 4.3%), and the average workweek increased to 34.5 (Briefing.com consensus 34.4).

Equity futures were hovering at their flat lines going into the jobs report release, but immediately moved higher in the aftermath, indicating a modestly higher open for the stock market. The major averages did indeed open in the green with technology stocks showing relative strength from the jump.

The S&P 500's top-weighted technology sector (+1.3%) has held the top spot on today's leaderboard since the opening bell amid broad strength. However, the benchmark index really started to build on its opening gain after the influential financial sector (+0.7%) shook its early-morning weakness and moved in line with the broader market.

In total, nine of the eleven sectors are trading higher this afternoon with gains ranging from 0.2% (consumer staples) to 1.3% (information technology). The two laggards--energy and telecom services--have struggled from the start and currently hold losses of around 0.5% apiece.

Crude oil has weighed on the energy sector, dropping 2.4% to $44.42/bbl, following yesterday's EIA inventory report, which showed a larger than expected drop in crude and gasoline stockpiles. However, the report also showed a rise in U.S. production, which has overshadowed the positive headlines thus far today.

In the bond market, Treasuries are trading mostly lower with the benchmark 10-yr yield climbing one basis point to 2.38%. Meanwhile, the U.S. Dollar Index (95.77, +0.19) is up 0.2%.

Also of note, recent reports indicate that the U.S. and Russia have reached an agreement on a cease-fire in western Syria. Secretary of State Rex Tillerson is expected to announce details shortly.

Taking another look at today's economic data, which was limited to the Employment Situation Report for June:

May nonfarm payrolls hit 222,000 while the Briefing.com consensus expected a reading of 173,000. The prior month's reading was revised to 152,000 from 138,000. Nonfarm private payrolls added 187,000 while the Briefing.com consensus expected an increase of 175,000. The previous month's reading was revised to 159,000 from 147,000.
The unemployment rate rose to 4.4% (Briefing.com consensus 4.3%). Average hourly earnings increased 0.2% (Briefing.com consensus +0.3%), while the previous month's reading was revised to +0.1% (from +0.2%). The average workweek was reported at 34.5, which is slightly higher than the Briefing.com consensus of 34.4. The previous month's reading was left unrevised at 34.4.
The key takeaway from the report is that the weak year-over-year growth in average hourly earnings (2.5%) is apt to give the Fed some cause for pause when considering the timing of its next rate hike.

Dow: +94.04… | Nasdaq: +67.85… | S&P: +16.16…

NASDAQ Adv/Dec 1939/840. …NYSE Adv/Dec 1967/929.

12:25PM ET

[BRIEFING.COM] The major averages continue to extend their session highs in early-afternoon action with the S&P 500 now trading higher by 0.7%.

After getting off to a slow start this morning, the heavily-weighted financial sector (+0.7%) has picked up the pace as of late and now trades in line with the broader market. Nearly all of the sector's components are trading in positive territory amid a steepening of the yield curve that has left the 2yr-10yr spread wider by two basis points.

Treasuries are trading lower across the board with the heaviest selling pressure being applied to the back end of the curve. The benchmark 10-yr yield has climbed two basis points to 2.39% while the 2-yr yield has remained at its unchanged mark of 1.40%.

Dow: +97.21… | Nasdaq: +64.28… | S&P: +15.63…

NASDAQ Adv/Dec 1923/834. …NYSE Adv/Dec 1944/934.

12:00PM ET

[BRIEFING.COM] Equity indices have ticked up to new session highs in recent action with the tech-heavy Nasdaq (+1.0%) leading the charge.

The influential health care sector (+0.5%) trades a step below the broader market as losses from top components like Johnson & Johnson (JNJ 132.29, -0.23), Pfizer (PFE 33.18, -0.03), Amgen (AMGN 171.29, -0.43), and Gilead Sciences (GILD 69.34, -0.14) weigh. However, the biotechnology industry has managed to keep in line with the benchmark index, pushing the iShares Nasdaq Biotechnology ETF (IBB 312.18, +1.73) higher by 0.6%.

Meanwhile, chipmakers are outperforming, evidenced by the 1.7% increase in the PHLX Semiconductor Index, with Advanced Micro Devices (AMD 13.50, +0.49) showing relative strength. AMD shares trade higher by 3.3%.

Dow: +91.47… | Nasdaq: +59.72… | S&P: +14.15…

NASDAQ Adv/Dec 1861/871. …NYSE Adv/Dec 1849/1014.

11:30AM ET

[BRIEFING.COM] The Dow Jones Industrial Average (+0.3%) has struggled to keep pace with its peers in today's session, however, the average is currently the only major index to trade in positive territory for the week (+0.1%).

Technology companies are among the strongest components in the Dow with Apple (AAPL 143.76, +1.03), Microsoft (MSFT 69.16, +0.59), Intel (INTC 33.84, +0.21), and Visa (V 94.35, +1.10) holding gains between 0.6% and 1.2%. However, fast-food giant McDonald's (MCD 155.59, +2.50) is the Dow's top-performer, jumping 1.6%, following some favorable commentary from Cleveland Research.

In the commodity market, metals are under pressure this morning with gold and silver futures dropping 1.0% and 2.8%, respectively. Gold is trading at $1,209.56/ozt, which marks its worst level in nearly four months, while silver has dropped to $15.44/ozt, which marks a fresh 15-month low.

Dow: +68.62… | Nasdaq: +49.20… | S&P: +11.13…

NASDAQ Adv/Dec 1679/1031. …NYSE Adv/Dec 1607/1195.

11:00AM ET

[BRIEFING.COM] The major U.S. indices have been trending sideways since the opening bell with the benchmark S&P 500 (+0.3%) staying true to a six-point range.

Eight of eleven sectors are trading in positive territory with gains ranging between 0.1% (consumer staples) and 1.1% (information technology). The energy and telecom services groups are the weakest performers, dropping around 0.8% apiece, while the third laggard--materials (-0.1%)--trades just a tick below its unchanged mark. For the week, the heavily-weighted financial sector is in the lead with a week-to-date gain of 1.0%.

U.S. President Donald Trump and Russian President Vladimir Putin met for the first time since Mr. Trump's victory in the 2016 presidential election today on the sidelines of the G-20 summit in Hamburg, Germany. It's highly doubtful that anything material will come out of this particular meeting, but it will be closely-followed nonetheless.

Dow: +54.22… | Nasdaq: +38.70… | S&P: +7.69…

NASDAQ Adv/Dec 1587/1105. …NYSE Adv/Dec 1541/1251.

10:40AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are down 0.79% at 81.7646
Dollar index is currently up 0.36% at 96.14
Looking at energy...
Today's weakness in Crude futures follows EIA data that showed continued strength in U.S. oil production in the final week of June.
In other news, Japan struck a deal with Saudi Aramco to raise crude oil storage capacity by 30% for the summer. Storage will increase by 1.9 mln barrels to 8.2 mln barrels of capacity.
August WTI crude oil futures are down $1.61 at $43.91/barrel
In other energy,
August natural gas is up $0.01 at $2.898/MMBtu an a large than expected draw in inventory
Moving on to metals...
Aug gold is currently down $10.00 at $1213.20/oz, while September silver is down $0.358 at $15.625/oz
September copper is down $0.0135 at $2.648/lb

Dow: +59.91… | Nasdaq: +42.25… | S&P: +8.47…

NASDAQ Adv/Dec 1636/1041. …NYSE Adv/Dec 1491/1266.

09:55AM ET

[BRIEFING.COM] Equity indices have ticked up from their opening levels with the S&P 500 now showing a gain of 0.4%.

Seven of the S&P 500's eleven sectors are trading in the green this morning with the top-weighted technology sector (+1.0%) hovering at the top of the leaderboard by a relatively wide margin. The energy sector (-0.5%) has struggled in early action amid a negative performance from crude oil, which is down 2.1% at $44.55/bbl.

The commodity moved sharply higher immediately following yesterday's EIA inventory report, which showed a larger than expected drop in crude and gasoline stockpiles. However, the report also showed a rise in U.S. production, which has overshadowed the positive headlines thus far today.

For the week, WTI crude trades lower by 3.3%.

Dow: +65.71… | Nasdaq: +40.33… | S&P: +8.47…

NASDAQ Adv/Dec 1693/897. …NYSE Adv/Dec 1525/1136.

09:40AM ET

[BRIEFING.COM] The major averages open Friday's session modestly higher with the S&P 500 sporting a gain of 0.3%.

Most sectors trade in the green, but gains have been pretty limited thus far. The top-weighted technology sector (+0.8%) is the strongest group and has returned to its flat line for the week. The remaining advancers hold gains of no more than 0.3%.

On the downside, the energy and telecom services spaces are underperforming. The two groups hold losses of around 0.2% apiece.

Dow: +52.71… | Nasdaq: +32.82… | S&P: +6.92…

NASDAQ Adv/Dec 1535/956. …NYSE Adv/Dec 1406/1195.

09:21AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +13.90.

The major averages are set to open Friday's session modestly higher after the June Employment Situation Report showed better than expected nonfarm payrolls (222,000 actual vs 173,000 Briefing.com consensus) and stable average hourly earnings (+0.2% actual vs +0.3% Briefing.com consensus). The S&P 500 futures trade five points, or 0.2%, above fair value.

Equity futures ticked up from their flat lines immediately following the June jobs report, which has been interpreted as yet another 'Goldilocks' report. In other words, the report points to an economy that is enjoying modest growth without any worrisome inflation, which--in the stock market's mind--translates to a Fed that won't be overly aggressive with its normalization process.

The Employment Situation Report for June also showed that Nonfarm private payrolls added 187,000 (Briefing.com consensus 175,000), the unemployment rate ticked up to 4.4% (Briefing.com consensus 4.3%), and the average workweek increased to 34.5 (Briefing.com consensus 34.4).

U.S. Treasuries saw modest movement following the job report's release with the most action occurring at the front end of the yield curve; the 2-yr yield gave back a modest gain, slipping below its flat line for awhile, but now trades right at its unchanged mark (1.40%). Meanwhile, the benchmark 10-yr yield trades higher by two basis points at 2.39%, which is around the level it hovered at ahead of the release.

In the currency market, the U.S. Dollar Index (95.84, +0.26) jumped above its overnight high following the release and currently shows a gain of 0.3%. However, the greenback's uptick hasn't helped crude oil, which currently trades lower by 1.7% at $44.75/bbl.

The energy component has moved higher as of late, but is still facing heavy selling pressure after yesterday's EIA inventory report showed a rise in U.S. production, which outweighed a surprisingly large drop in crude and gasoline stockpiles. For the week, WTI crude trades lower by 2.9%.

08:52AM ET

[BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +22.80.

The S&P 500 futures trade seven points, or 0.3%, above fair value.

Equity indices in the Asia-Pacific region ended the week on a mostly lower note. Looking to halt the slide in global sovereign bonds, the Bank of Japan offered to buy an unlimited amount of Japanese Government Bonds with maturities between 5- and 10-years at a yield of 0.1%. Japan's benchmark 10-yr yield fell to 0.09% after hitting an overnight high at 0.107%. Shares of Samsung shed 0.4% in Seoul despite issuing above-consensus guidance.

In economic data:
Japan's Average Cash Earnings +0.7% year-over-year (expected 0.4%; last 0.5%) and May Leading Index 104.7 (expected 104.6; last 104.2). May Coincident Indicator -1.6% month-over-month (last 2.7%)
Australia's June AIG Construction Index 56.0 (last 56.7)

---Equity Markets---

Japan's Nikkei lost 0.3%, widening this week's decline to 3.7%. Canon, Familymart, Panasonic, J Front Retailing, Daiwa House Industry, Dentsu, Furukawa Electric, Komatsu, and Eisai lost between 1.4% and 3.8%. On the upside, Sony Financial Holdings, SUMCO, Nikon, and Mazda Motor added between 1.3% and 2.6%.
Hong Kong's Hang Seng fell 0.5% to end the week lower by 1.6%. Financials like Bank of China, China Construction Bank, ICBC, Hang Seng Bank, and HSBC posted losses between 0.3% and 1.4%. Conversely, Kunlun Energy jumped 3.7% while Geely Automobile advanced 1.2%.
China's Shanghai Composite added 0.2%, extending its weekly gain to 0.8%. Ningbo Shanshan, Gemdale, Shanghai Sanmao Enterprise, Fangda Carbon New Material, Shanghai Lansheng, and ShangHai Phoenix Enterprise gained between 6.7% and 10.0%.
India's Sensex settled just below its flat line, but gained 0.7% for the week. Financials ICICI Bank and AXIS Bank both lost near 1.3% while SBI shed 0.3% and HDFC Bank rose 0.4%. Tech consultants like Wipro, Tata Consultancy, and Infosys lost between 0.2% and 1.2%.

Major European indices trade mixed with the UK's FTSE (+0.2%) showing relative strength. U.S. President Donald Trump is scheduled to meet with Russian President Vladimir Putin on the sidelines of the G-20 summit in Hamburg. This will be the first meeting between the two leaders since Mr. Trump's electoral victory in November. Elsewhere, Bank of England member Ian McCafferty noted that the UK economy has slowed down, but cautioned that a pick-up in inflation should not be ignored.

In economic data:
Germany's May Industrial Production +1.2% month-over-month (expected 0.3%; last 0.7%)
UK's June Halifax House Price Index -1.0% month-over-month (expected 0.2%; last 0.3%); +2.6% year-over-year (expected 3.1%; last 3.3%). May Construction Output -1.2% month-over-month (expected 0.7%; last -1.1%); -0.3% year-over-year (expected 1.1%; last -0.1%). May Industrial Production -0.1% month-over-month (expected 0.4%; last 0.2%); -0.2% year-over-year (consensus 0.2%; last -0.8%). May Manufacturing Production -0.2% month-over-month (expected 0.5%; last 0.2%); +0.4% year-over-year (consensus 1.0%; last 0.0%). May trade deficit widened to GBP11.86 billion from GBP10.60 billion (expected deficit of GBP10.80 billion)
France's May Industrial Production +1.9% month-over-month (expected 0.5%; last -0.6%) and May trade deficit narrowed to EUR4.90 billion from EUR5.60 billion (expected deficit of EUR5.10 billion)
Italy's May Retail Sales -0.1% month-over-month (expected 0.3%; last -0.4%); +1.0% year-over-year (last 0.8%)
Spain's May Industrial Production +3.0% year-over-year (consensus 2.0%; last 0.5%)
Swiss June Unemployment Rate held at 3.2%, as expected

---Equity Markets---

UK's FTSE is up 0.2% with countercyclical names showing relative strength. Centrica, Unilever, Severn Trent, United Utilities, Imperial Brands, Shire, GlaxoSmithKline, AstraZeneca, and Diageo are up between 0.4% and 4.2%. On the downside, homebuilders Taylor Wimpey and Persimmon hold respective losses of 1.3% and 0.8% while financials like Old Mutual, Barclays, Prudential, and RBS are down around 0.5% apiece.
Germany's DAX has shed 0.1% with over half of its components trading in the red. Commerzbank is down 0.2% while Deutsche Bank trades flat. Adidas, Continental, Merck, and BMW show losses between 0.3% and 0.7% while utilities outperform. RWE and E.ON are up 3.0% and 2.7%, respectively.
France's CAC is lower by 0.2% with consumer names and financials struggling. Carrefour, Accor, Louis Vuitton, and Pernod Ricard show losses between 0.2% and 5.0% while Credit Agricole and Societe Generale hold respective losses of 0.5% and 0.1%.

08:35AM ET

[BRIEFING.COM] S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +28.90.

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

Just in, May nonfarm payrolls hit 222,000 while the Briefing.com consensus expected a reading of 173,000. The prior month's reading was revised to 152,000 from 138,000. Nonfarm private payrolls added 187,000 while the Briefing.com consensus expected an increase of 175,000. The previous month's reading was revised to 159,000 from 147,000.

The unemployment rate rose to 4.4% (Briefing.com consensus 4.3%). Average hourly earnings increased 0.2% (Briefing.com consensus +0.3%), while the previous month's reading was revised to +0.1% (from +0.2%). The average workweek was reported at 34.5, which is slightly higher than the Briefing.com consensus of 34.4. The previous month's reading was left unrevised at 34.4.

08:10AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: -1.00.

Investors are playing it safe in front of the Employment Situation Report for June (Briefing.com consensus 173,000), which will be released at 8:30 ET. The S&P 500 futures are currently trading one point above fair value.

The June jobs report is likely to be the biggest market event of the day as it feeds directly into monetary policy considerations. Average hourly earnings will be a key metric as consistently strong job growth has yet to really translate into higher wages. The Briefing.com consensus expects that the report will show a 0.3% increase in average hourly earnings.

Crude oil has plunged into negative territory this morning and currently trades 2.6% below yesterday's closing price at $44.33/bbl. Today's weakness follows yesterday's EIA data, which showed continued strength in U.S. oil production in the final week of June. For the week, the commodity is down 3.9%.

U.S. Treasuries are trading slightly lower this morning with the benchmark 10-yr yield climbing one basis point to 2.38%. Meanwhile, the U.S. Dollar Index (95.73, +0.15) is higher by 0.2%.

In U.S. corporate news:

Campbell Soup (CPB 52.50, +0.82): +1.6% following news that the company will acquire Pacific Foods of Oregon for $700 million in cash.
Cherokee (CHKE 5.80, -1.95): -25.2% after missing both top and bottom line estimates. Also of note, the company announced that it is in talks to amend credit facility with Cerberus after breaking covenants.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mostly lower note. Japan's Nikkei -0.3%, Hong Kong's Hang Seng -0.5%, China's Shanghai Composite +0.2%, India's Sensex unch.
In economic data:
Japan's Average Cash Earnings +0.7% year-over-year (expected 0.4%; last 0.5%) and May Leading Index 104.7 (expected 104.6; last 104.2). May Coincident Indicator -1.6% month-over-month (last 2.7%)
Australia's June AIG Construction Index 56.0 (last 56.7)
In news:
Looking to halt the slide in global sovereign bonds, the Bank of Japan offered to buy an unlimited amount of Japanese Government Bonds with maturities between 5- and 10-years at a yield of 0.1%. Japan's benchmark 10-yr yield fell to 0.09% after hitting an overnight high at 0.107%.
Shares of Samsung shed 0.4% in Seoul despite issuing above-consensus guidance.

Major European indices trade on a mostly lower note while the UK's FTSE outperforms, hovering near its flat line. France's CAC -0.3%, Germany's DAX -0.2%, UK's FTSE unch.
In economic data:
Germany's May Industrial Production +1.2% month-over-month (expected 0.3%; last 0.7%)
UK's June Halifax House Price Index -1.0% month-over-month (expected 0.2%; last 0.3%); +2.6% year-over-year (expected 3.1%; last 3.3%). May Construction Output -1.2% month-over-month (expected 0.7%; last -1.1%); -0.3% year-over-year (expected 1.1%; last -0.1%). May Industrial Production -0.1% month-over-month (expected 0.4%; last 0.2%); -0.2% year-over-year (consensus 0.2%; last -0.8%). May Manufacturing Production -0.2% month-over-month (expected 0.5%; last 0.2%); +0.4% year-over-year (consensus 1.0%; last 0.0%). May trade deficit widened to GBP11.86 billion from GBP10.60 billion (expected deficit of GBP10.80 billion)
France's May Industrial Production +1.9% month-over-month (expected 0.5%; last -0.6%) and May trade deficit narrowed to EUR4.90 billion from EUR5.60 billion (expected deficit of EUR5.10 billion)
Italy's May Retail Sales -0.1% month-over-month (expected 0.3%; last -0.4%); +1.0% year-over-year (last 0.8%)
Spain's May Industrial Production +3.0% year-over-year (consensus 2.0%; last 0.5%)
Swiss June Unemployment Rate held at 3.2%, as expected
In news:
U.S. President Donald Trump is scheduled to meet with Russian President Vladimir Putin on the sidelines of the G-20 summit in Hamburg. This will be the first meeting between the two leaders since Mr. Trump's electoral victory in November.
Bank of England member Ian McCafferty noted that the UK economy has slowed down, but cautioned that a pick-up in inflation should not be ignored.

05:55AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.75. Nasdaq futures vs fair value: +0.30.
05:53AM ET

[BRIEFING.COM] Nikkei

...19929...-65.00

...-0.30%

. Hang Seng

...25341...-124.40

...-0.50%

05:53AM ET

[BRIEFING.COM] FTSE

...7324.31...-13.00

...-0.20%

. DAX

...12353.68...-27.60

...-0.20%

04:30PM ET

[BRIEFING.COM] Stocks moved into negative territory for the week on Thursday as the S&P 500 (-0.9%) tumbled below its 50-day simple moving average (2,414) for the first time in seven weeks. The Nasdaq (-1.0%) and the Dow (-0.7%) also registered sizable declines, but none as great as the small-cap Russell 2000, which settled lower by 1.4%.

The major averages were bearish from the jump on Thursday, quickly turning their opening losses into sizable declines within the first few minutes of action. The S&P 500 found some support at its 50-day simple moving average (2,414) in the morning, bouncing off the key technical level to climb back to its opening mark. However, the bears reclaimed control in the afternoon, sending the benchmark index, and its peers, to a fresh session low.

There wasn't a specific catalyst to credit for the equity market's poor performance, but the market did express concerns about less accommodative central bankers, evidenced by rising interest rates around the globe. U.S. Treasuries moved lower in a curve-steepening trade that left the 10-yr yield five basis points higher at 2.37% and the 2-yr yield unchanged at 1.40%.

The heavily-weighted financial sector (-0.7%) benefited from the steepening of the yield curve and exhibited relative strength throughout the session. However, late-afternoon selling did trim the financial sector's advantage over the broader market a bit, leaving the group at its worst mark of the day. The consumer staples (-0.5%), materials (-0.4%), and utilities (-0.1%) sectors also outperformed.

Out of the remaining seven sectors, the lightly-weighted telecom services (-2.3%), real estate (-1.9%), and energy (-1.8%) groups finished with the widest declines. The energy sector struggled for the majority of the session despite an upbeat EIA crude inventory report, which showed that oil inventories declined by 6.3 million barrels last week (consensus -2.0 million).

Crude oil immediately shot to a new session high following the EIA release, trading as high as +3.0%, but eventually retraced a good portion of that gain to settle at a price of $45.52/bbl (+0.9%).

The influential technology (-0.9%) and health care (-1.3%) sectors struggled early on, but the tech group was able to move back in line with the broader market, thanks in large part to the positive performance of chipmakers; the PHLX Semiconductor Index settled with a modest loss of 0.5%.

Meanwhile, the health care group was never able to recover. All health care components finished in the red, but biotechnology companies showed particular weakness, sending the iShares Nasdaq Biotechnology ETF (IBB 310.45, -4.84) lower by 1.5%.

It's also worth pointing out that retailers struggled today, dragging the SPDR S&P Retail ETF (XRT 39.46, -0.87) lower by 2.2%. L Brands (LB 46.49, -7.62) led the retreat, plunging 14.1%, after reporting a 9.0% decline in June comparable sales vs +6.0% a year ago and -7.0% last month.

Reviewing today's large batch of economic data, which included June ADP Employment Change, the weekly Initial Claims Report, June ISM Services, May Trade Balance, the weekly MBA Mortgage Applications Index, and June Challenger Job Cuts:

The ADP National Employment Report showed an increase of 158,000 in June (Briefing.com consensus 185,000) while the May reading was revised lower to 230,000 from 253,000.
The ADP reading precedes Friday's more influential Employment Situation Report for June, which the Briefing.com consensus expects will show the addition of 173,000 nonfarm payrolls.
The latest weekly initial jobless claims count totaled 248,000 while the Briefing.com consensus expected a reading of 244,000. Today's tally was above the unrevised prior week count of 244,000. As for continuing claims, they rose to 1.956 million from the revised count of 1.945 million (from 1.948 million).
The key takeaway from the report is that jobless claims continue to remain at low levels that are consistent with a tight labor market.
The ISM Services Index for June rose to 57.4 from an unrevised reading of 56.9 in May. The Briefing.com consensus expected a reading of 56.6.
The key takeaway from the report is that the services side of the economy continues to perform well, evidenced by every index component registering a reading above 50.0 in June.
The May trade balance showed a deficit of $46.5 billion while the Briefing.com consensus expected the deficit to hit $46.1 billion. The previous month's deficit was left unrevised at $47.6 billion.
The key takeaway from the report is that the average real trade balance for the second quarter is higher than the average for the first quarter, which implies net exports will have a negative contribution on Q2 GDP growth.
The weekly MBA Mortgage Applications Index rose 1.4% to follow last week's 6.2% decrease.
June Challenger Job Cuts showed a year-over-year decrease of 19.3% to follow last month's year-over-year increase of 9.7%.

On Friday, investors will receive the Employment Situation Report for June, which the Briefing.com consensus expects will show the addition of 173,000 nonfarm payrolls. The report will be released at 8:30 ET.

Nasdaq Composite +13.1% YTD
S&P 500 +7.6% YTD
Dow Jones Industrial Average +7.9% YTD
Russell 2000 +3.2% YTD

Dow: -158.13… | Nasdaq: -61.39… | S&P: -22.79…

NASDAQ Adv/Dec 640/2023. …NYSE Adv/Dec 573/2386

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
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