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 Post subject: July 11th Tuesday Trade Results - Profits $3150.00
PostPosted: Tue Jul 11, 2017 2:53 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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Attachment:
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $3150.00 dollars or +63.00 points, Light Crude Oil CL ($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 @ $3150.00 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=2596

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: +0.55… | Nasdaq: +16.91… | S&P: -1.90…
NASDAQ Vol: 1.79 bln… Adv: 1399… Dec: 1360…
NYSE Vol: 784.2 mln… Adv: 1509… Dec: 1392…

Moving the Market

Short-lived tumble following release of Donald Trump Jr. email exchange that was aimed at securing a meeting with Russian lawyer

Caution ahead of potentially influential events--Yellen testimony, econ data, earnings kickoff--that will occur later in the week

Crude oil reverses early loss, underpins energy sector

Sector Watch
Strong: Technology, Energy
Weak: Financials, Consumer Discretionary, Materials, Consumer Staples, Telecom Services
04:30PM ET

[BRIEFING.COM] The S&P 500 gave back its slim Monday advance in the second session of the week, dropping 0.1%, with nine of its eleven sectors settling in negative territory. Meanwhile, the Nasdaq (+0.3%) cruised to its second win of the week as technology stocks outperformed and the Dow (unch) eked out a very narrow victory.

With the week's first major event--Wednesday's testimony from Fed Chair Janet Yellen--on the horizon, investors were cautious at the start of Tuesday's session, leaving the S&P 500 near its unchanged mark for the majority of the morning. However, the benchmark index made a sharp move into the red around 11:00 ET, dropping as low as 0.6% below its flat line, after Donald Trump Jr. tweeted an email exchange that involved him setting up a meeting with a Russian lawyer in an attempt to gain some possibly incriminating information on then-presidential candidate Hillary Clinton.

The market's initial reaction was likely prompted by the notion that there might have been collusion between Russia and the Trump campaign to influence the outcome of the U.S. presidential election. However, the risk-off sentiment didn't stick and the benchmark index quickly rebounded, retracing about half of its loss in just 30 minutes.

Outside of the equity market, safe-haven assets like U.S. Treasuries, gold, and the Japanese yen did move modestly higher on Tuesday, but the CBOE Volatility Index (VIX 10.90, -0.12)--which points to the market's anticipation of short-term uncertainty--declined by 2.1%. Gold climbed 0.2% to $1,215.90/ozt, the yen added 0.2% against the U.S. dollar, and the benchmark 10-yr yield--which moves inversely to the price of the 10-yr Treasury note--dropped one basis point to 2.36%.

Only the energy and technology sectors finished Tuesday in the green with energy (+0.6%) being the top-performing group, thanks in large part to crude oil's positive performance. The commodity jumped 1.5% to $45.07/bbl despite trading around 1.0% below its Monday closing price in early-morning action. It's tough to credit a single bullish catalyst for crude oil's advance as technical forces have been coming into play within the crude futures market as of late, but it's worth noting that a European inventory report showed a decline in European product stockpiles.

Meanwhile, the top-weighted technology sector (+0.4%) put together another solid performance, extending its two-day gain to 1.2%, with Facebook (FB 155.20, +1.70) showing relative strength. FB shares jumped to a new session high after the company announced that ads for Facebook Messenger will become available to advertisers globally. Chipmakers also outperformed, pushing the PHLX Semiconductor Index higher by 0.8%.

On the downside, the influential financial sector (-0.7%) struggled on Tuesday, especially following the release of Donald Trump Jr.'s email exchange, and eventually settled with the telecom services group (-0.7%) at the very bottom of the day's leaderboard. However, Dow component Goldman Sachs (GS 226.95, +1.11) was able to register its second win of the week, climbing 0.5%.

In Washington, Senate Majority Leader Mitch McConnell announced that the upper house will delay its August recess by two weeks, giving Senate Republicans some extra time to iron out their version of the health care reform bill.

Reviewing today's economic data, which was limited to May Wholesale Inventories and May JOLTS:

May Wholesale Inventories increased 0.4% (Briefing.com consensus +0.3%). The prior month's reading was revised to -0.4% from -0.5%.
The market doesn't typically pay much attention to this release since the full business inventories report is usually released a short time later.
The May Job Openings and Labor Turnover Survey showed that job openings decreased to 5.666 million from a revised 5.967 million (from 6.044 million) in April.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index and the Fed's Beige Book. The two reports will be released at 7:00 ET and 14:00 ET, respectively.

Dow: +0.55… | Nasdaq: +16.91… | S&P: -1.90…

NASDAQ Adv/Dec 1399/1360. …NYSE Adv/Dec 1509/1392.

03:40PM ET

[BRIEFING.COM]

The dollar index slid lower today, which gave a boost to many commodities
Commodities including oil, natural gas, gold, silver and copper are all still close to today's high
Aug WTI crude oil settled the day +$0.66 at $45.07/barrel
While, in other energy, Aug natural gas rallied $0.12 (or +4.1%) to $3.05/MMBtu
Metals showed smaller gains
Aug gold settled just $1.50 higher at $1214.60/oz, while Sept silver rose $0.11 to $15.74/oz
Sept copper settled $0.02 higher at $2.67/lb.

Dow: +19.76… | Nasdaq: +18.94… | S&P: -0.13…

NASDAQ Adv/Dec 1533/1301. …NYSE Adv/Dec 1561/1341.

03:00PM ET

[BRIEFING.COM] The major averages enter the final hour of today's session just a tick below their best marks of the day. The Nasdaq (+0.2%) and the Dow (+0.1%) still lead the benchmark S&P 500 (-0.1%).

Crude oil registered its second victory of the week today, ending pit trade higher by 1.5% at a price of $45.07/bbl, after trading around 1.0% below its Monday closing price in early-morning action. There wasn't a single bullish catalyst to credit for the commodity's positive performance, but it is worth noting that a European inventory report showed a decline in European product stockpiles.

The energy sector (+0.6%) has been the top-performing group this afternoon and currently trades at the top of today's leaderboard by a comfortable margin. The technology (+0.3%) and real estate (unch) groups also hover in the green while the eight laggards show losses between 0.1% and 0.6%.

Dow: +12.27… | Nasdaq: +11.83… | S&P: -2.00…

NASDAQ Adv/Dec 1470/1345. …NYSE Adv/Dec 1502/1404.

02:30PM ET

[BRIEFING.COM] The Nasdaq (+0.2%) is leading the Dow Jones Industrial Average (+0.1%) this afternoon while the S&P 500 (-0.1%) lags.

In Washington, Senate Majority Leader Mitch McConnell announced that the upper house will delay its August recess by two weeks as Senate Republicans attempt to reach an agreement on health care reform. If successful, Congress will likely have another uphill battle as it attempts to reconcile the Senate's version of health care reform with the version that the House of Representatives passed back on May 4.

Investors watch the squabble from a distance, hoping that progress can soon be made on tax reform, which the GOP plans to tackle following a successful passage of a health care reform bill.

Dow: +20.68… | Nasdaq: +13.90… | S&P: -1.17…

NASDAQ Adv/Dec 1432/1365. …NYSE Adv/Dec 1487/1394.

02:00PM ET

[BRIEFING.COM] The equity market has ticked up in recent action. The major averages now trade just a tick below their session highs with the S&P 500 showing a loss of 0.1%.

Biotechnology names have been outperforming the broader market today, evidenced by the 0.3% increase in the iShares Nasdaq Biotechnology ETF (IBB 310.98, +0.94). However, despite the biotech industry's positive performance, the influential health care sector (-0.1%) is still trading in line with the benchmark index. Pharmaceutical names like Pfizer (PFE 33.15, -0.25) and Merck (MRK 62.36, -0.48) are among the sector's weakest components with both names showing losses of around 0.8% apiece.

The health care sector has struggled a bit this month with today's downtick extending its month-to-date loss to 0.4%. For comparison, the S&P 500 is up 0.1% thus far in July.

Dow: +29.37… | Nasdaq: +17.92… | S&P: +0.14…

NASDAQ Adv/Dec 1473/1332. …NYSE Adv/Dec 1507/1357.

01:30PM ET

[BRIEFING.COM] The major U.S. indices remain mixed at this time as investors digest the latest developments in the media's coverage of alleged Russian involvement in the 2016 Presidential election.

A look inside the Dow Jones Industrial Average shows that Nike (NKE 58.17, -0.56), Pfizer (PFE 33.09, -0.31), & Merck & Co (MRK 62.27, -0.56) are underperforming.

Conversely, Boeing (BA 205.82, +1.86) is the best-performing Dow component as shares display relative strength, pushing to fresh all-time highs.

For the week, the DJIA is currently down 0.09%.

Elsewhere, at the top of the hour, the Treasury's $24 bln 3-year auction drew a high yield of 1.573% on a bid-to-cover of 2.87.

Dow: -7.03… | Nasdaq: +1.79… | S&P: -5.00…

NASDAQ Adv/Dec 1379/1430. …NYSE Adv/Dec 1339/1508.

01:05PM ET

[BRIEFING.COM] The major U.S. indices are trading mixed at midday with the benchmark S&P 500 showing a loss of 0.3%. Meanwhile, the Nasdaq (+0.1%) and the Dow (unch) trade right at their unchanged marks. It's important to note that trading volume has been light in today's session, making it a bit easier to move prices around.

Tuesday's biggest headline thus far has been the release of an email exchange from Donald Trump Jr. that was aimed at securing a meeting between the Trump campaign and a Russian lawyer, who claimed to have potentially incriminating information on Hillary Clinton. Donald Trump Jr. released the transcript on Twitter and the S&P 500 sharply dropped from its flat line to a loss of 0.6% in the aftermath.

The supposition from some market participants is that the emails support the notion that there might have been collusion between Russia and the Trump campaign to influence the election outcome. However, the stock market quickly retraced over half of its initial move lower and the risk-off action was not immediately corroborated by other markets.

U.S. Treasuries are currently hovering at their session highs in a curve-flattening trade that has reduced the 2yr-10yr spread by one basis point. The benchmark 10-yr yield is down two basis points at 2.36%.

As for sector standings, nine of the S&P 500's eleven sectors are hovering in the red this afternoon with the energy (+0.6%) and technology (+0.1%) groups being the only advancers. The nine laggards show losses ranging from 0.1% (industrials) to 0.7% (financials).

The energy group's positive performance has been underpinned by crude oil, which is up 1.8% at $45.18/bbl, despite reports that Saudi Arabia exceeded its production limit in June. The commodity showed a loss of around 1.0% in early-morning action, but has been on the climb since about 8:30 ET.

Meanwhile, the top-weighted technology sector has exhibited relative strength since the opening bell, helping to keep a lid on the S&P 500's loss. Technology components are mixed, but chipmakers are trading mostly higher, pushing the PHLX Semiconductor Index higher by 0.3%.

On the downside, the influential financial sector has struggled today, especially following the release of Donald Trump Jr.'s email exchange. However, Dow component Goldman Sachs (GS 227.38, +1.53) is outperforming and currently sports a gain of 0.7%.

Reviewing today's economic data, which was limited to May Wholesale Inventories and May JOLTS:

May Wholesale Inventories increased 0.4% (Briefing.com consensus +0.3%). The prior month's reading was revised to -0.4% from -0.5%.
The market doesn't typically pay much attention to this release since the full business inventories report is usually released a short time later.
The May Job Openings and Labor Turnover Survey showed that job openings decreased to 5.666 million from a revised 5.967 million (from 6.044 million) in April.

Dow: -7.16… | Nasdaq: +3.36… | S&P: -4.65…

NASDAQ Adv/Dec 1474/1324. …NYSE Adv/Dec 1405/1443.

12:30PM ET

[BRIEFING.COM] The major averages are hovering near their recent levels with the S&P 500 showing a loss of 0.3%.

Ten of eleven sectors are trading in the red with the heavily-weighted financial space (-0.7%) leading the retreat. The energy group (+0.5%) is currently the only advancer, benefiting from a 1.7% increase in the price of crude oil, which currently sits at $45.14/bbl. The top-weighted technology sector is hovering in negative territory, but has managed to keep ahead of the broader market, thanks in large part to chipmakers, which have pushed the PHLX Semiconductor Index higher by 0.2%.

In the currency market, the U.S. Dollar Index (95.67, -0.13) is hovering at its session low and currently holds a loss of 0.1%.

Dow: -22.45… | Nasdaq: -4.54… | S&P: -6.88…

NASDAQ Adv/Dec 1393/1397. …NYSE Adv/Dec 1367/1463.

12:05PM ET

[BRIEFING.COM] The major averages have been ticking up since the last update with the S&P 500 reducing its loss to 0.2%.

Around an hour ago, Donald Trump Jr. tweeted the entire email exchange that led to a meeting between the Trump campaign and a Russian lawyer. The S&P 500 was trading flat in front of the release, but then moved sharply lower in the aftermath. However, the benchmark index has retraced over half of that move in recent action.

The risk-off reflex of the stock market was not corroborated by other markets; Treasuries, gold, and the CBOE Volatility Index (VIX 11.35, +0.24, +2.16%) are little changed. The benchmark 10-yr yield trades flat at 2.37%, as does gold, which currently sits at $1,213.14/ozt.

Dow: -3.08… | Nasdaq: +3.16… | S&P: -4.20…

NASDAQ Adv/Dec 1423/1338. …NYSE Adv/Dec 1336/1483.

11:30AM ET

[BRIEFING.COM] The S&P 500 (-0.5%) has sharply dropped from its flat line in recent action following headlines about emails, which were released by Donald Trump Jr., between the Trump campaign and the Russian government.

Financial stocks are under heavy pressure, dragging the heavily-weighted financial sector 1.0% below yesterday's closing level. The sector's underperformance has acted as a drag on the broader market and given a blow to investor sentiment as the group plays a crucial role in driving economic activity.

U.S. Treasuries are slightly higher in a curve-flattening trade, decreasing the 2yr-10yr spread by one basis point. The benchmark 10-yr yield is down one basis point at 2.37%.

Dow: -97.14… | Nasdaq: -15.29… | S&P: -10.90…

NASDAQ Adv/Dec 1097/1670. …NYSE Adv/Dec 945/1835.

11:00AM ET

[BRIEFING.COM] The major averages have been ticking up as of late and currently trade around their best marks of the day. However, trading ranges have been pretty tight with the S&P 500 (unch) staying true to a five-point range since the opening bell.

Four of the eleven sectors are currently trading in the green with the energy group (+0.7%) leading the advance amid a positive performance from crude oil. The energy component was trading in the red earlier this morning, showing a loss of around 1.0%, following headlines that Saudi Arabia exceeded its production limit in June, but the commodity has since advanced 1.0% above yesterday's closing price and currently trades at $44.86/bbl. There isn't a notable catalyst for the turn around.

Like energy, the top-weighted technology sector (+0.2%) also exhibits relative strength with mega-cap names like Microsoft (MSFT 70.40, +0.42) and Facebook (FB 154.15, +0.65) pacing the advance. The two names trade higher by 0.6% and 0.4%, respectively.

Dow: +27.10… | Nasdaq: +16.20… | S&P: +0.12…

NASDAQ Adv/Dec 1448/1299. …NYSE Adv/Dec 1392/1372.

10:30AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are flat at 82.3460
Dollar index is currently up 0.11 % at 96.13
Looking at energy...
August WTI crude oil futures are up $0.07 at $44.47/barrel
API inventory data will be released at 4:30pm ET.
In other energy,
August natural gas is up $0.073 at $3.002/MMBtu, rallying for the second straight session.
Moving on to metals...
Aug gold is currently down $3.90 at $1209.30/oz, while September silver is down $0.029 at $15.60/oz
September copper is up $0.007 at $2.6545/lb

Dow: +10.14… | Nasdaq: +14.29… | S&P: -1.06…

NASDAQ Adv/Dec 1316/1390. …NYSE Adv/Dec 1121/1612.

10:00AM ET

[BRIEFING.COM] The major averages trade mixed. The S&P 500 holds a slim loss of 0.1% while the Nasdaq holds a slim gain of 0.1%.

Just released, May Wholesale Inventories increased 0.4% (Briefing.com consensus +0.3%). The prior month's reading was revised to -0.4% from -0.5%.

Separately, the May Job Openings and Labor Turnover Survey showed that job openings decreased to 5.666 million from a revised 5.967 million (from 6.044 million) in April.

Dow: -3.60… | Nasdaq: +4.66… | S&P: -2.85…

NASDAQ Adv/Dec 1302/1311. …NYSE Adv/Dec 1107/1521.

09:40AM ET

[BRIEFING.COM] The major averages open Tuesday's session near their unchanged marks with the S&P 500 showing a slim loss of 0.1%.

Nearly all of the S&P 500's 11 sectors are trading in the red, but losses have been modest with no group holding a loss of more than 0.3%. The health care (+0.1%) and utilities (+0.1%) sectors outperform and are currently trading at the top of the day's leaderboard. In the bond market, U.S. Treasuries have been ticking up in recent action, leaving the benchmark 10-yr yield (2.38%) at its flat line.

May Wholesale Inventories (Briefing.com consensus 0.3%) and May JOLTS are the only reports on today's economic calendar. Both pieces of data will be released shortly at 10:00 ET.

Dow: -5.80… | Nasdaq: -8.12… | S&P: -3.74…

NASDAQ Adv/Dec 1070/1452. …NYSE Adv/Dec 834/1698.

09:12AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -14.90.

The S&P 500 looks like it will give back yesterday's slim gain at today's opening bell as the S&P 500 futures trade three points, or 0.1%, below fair value.

Corporate news has been relatively light this morning, but it's worth noting that PepsiCo (PEP 114.00, -0.27) beat bottom-line estimates and slightly increased its earnings per share guidance for the year. In addition, Deutsche Bank raised Apple's (AAPL 144.60, -0.46) target price to $132 from $130, but noted that expectations for the iPhone 8 release might be too high.

Crude oil has retraced a portion of its earlier loss, but still trades lower by 0.5% at $44.20/bbl. This morning's downtick places the commodity back at its flat line for the week.

U.S. Treasuries are hovering just a step below their unchanged marks in early action with the benchmark 10-yr yield climbing one basis point to 2.38%. Meanwhile, the U.S. Dollar Index (95.91, +0.10) is up 0.1%.

On the data front, investors will receive two economic reports--May Wholesale Inventories (Briefing.com consensus 0.3%) and May JOLTS--on Tuesday. Both pieces of data will be released at 10:00 ET.

In addition, Fed Governor Lael Brainard and Minneapolis Fed President Neel Kashkari (FOMC voter) will both be speaking today at 12:00 ET and 13:20 ET, respectively.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -11.30.

The S&P 500 futures trade two points, or 0.1%, below fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note with Hong Kong's Hang Seng (+1.5%) showing relative strength. The People's Bank of China conducted open market operations for the first time in 13 sessions amid speculation that cash would be hoarded ahead of tax payments, which will be made later this month. In Japan, the approval rating of Prime Minister Shinzo Abe fell to a record low of 36.0%. A cabinet reshuffle aimed at improving support is still expected.

In economic data:
Japan's Machine Tool Orders +31.1% year-over-year (last 24.5%)
Australia's May Home Loans +1.0% month-over-month (expected 1.5%; last -1.9%). May Invest Housing Finance -1.4% month-over-month (last -2.3%). June NAB Business Confidence 9 (last 7) and June NAB Business Survey 15 (last 12).
New Zealand's June Electronic Card Retail Sales 0.0% month-over-month (expected 0.8%; last -0.4%); +4.5% year-over-year (last 5.2%)

---Equity Markets---

Japan's Nikkei rose 0.6%. Chugai Pharmaceutical, Sumitomo Heavy Industries, Sony, Furukawa Electric, Dentsu, Ebara, Softbank, Showa Denko, Yokogawa Electric, TOTO, Fanuc, and Fujifilm Holdings posted gains between 1.4% and 6.5%. On the downside, Suzuki Motor, Mitsubishi Motors, and Fast Retailing lost between 1.1% and 1.8%.
Hong Kong's Hang Seng climbed 1.5% amid gains in most components. Geely Automobile remained on a torrid pace, surging 7.5%, in reaction to upbeat guidance. Financials like China Construction Bank, ICBC, Bank of China, China Life Insurance, AIA Group, Bank of East Asia, BoC Hong Kong, and HSBC rose between 0.6% and 4.0%.
China's Shanghai Composite slid into the close, surrendering 0.3%. Jiangsu Sanfangxiang, China Merchants Bank, Fujian Cement, Wuhan Hanshang, and Chongqing Taiji Industry advanced between 3.5% and 4.6%.
India's Sensex added 0.1% to close at a fresh record high. Bajaj Auto and Tata Motors led with respective gains of 2.4% and 2.3% while financials were mixed. HDFC Bank rose 0.2% while AXIS Bank lost 0.4%, ICIC Bank fell 0.6%, and SBI surrendered 0.7%.

Major European indices trade mostly lower while Germany's DAX (+0.1%) and Italy's MIB (unch) outperform. Opinion polls in Germany show Chancellor Angela Merkel's CDU/CSU coalition having a sizable lead over Social Democrats ahead of elections in the fall. The euro trades slightly higher against the dollar, up 0.1% at 1.1412.

Economic data was limited:
Italy's May Industrial Production +0.7% month-over-month (expected 0.5%: last -0.5%); +2.8% year-over-year (consensus 2.2%; last 0.9%)

---Equity Markets---

UK's FTSE is down 0.7% with most components on the defensive. Pearson has slumped 5.0% after announcing the sale of a 22.0% stake in Penguin Random House for $1 billion to Germany's Bertelsmann SE. Marks & Spencer has given up 4.9% in reaction to disappointing sales. Other consumer names like Associated British Foods, Next, InterContinental Hotels, Diageo, and Burberry are down between 1.1% and 2.5%. On the upside, miners like Anglo American and Glencore are up 1.5% and 1.3%, respectively.
France's CAC has shed 0.2%. Unibail Rodamco is the weakest performer, falling 1.5%, while other financials like Societe Generale, BNP Paribas, and Credit Agricole are up between 0.1% and 0.6%. Automakers Peugeot and Renault are up 1.0% and 0.8%, respectively.
Germany's DAX trades up 0.1%. Steelmaker Thyssenkrupp leads with a gain of 2.5% while automakers Daimler, BMW, and Volkswagen have added between 1.0% and 1.4%. On the downside, SAP, Merck, and Henkel are down between 0.4% and 1.0%.
Italy's MIB hovers at its unchanged mark as select financials outperform. Banca Pop Emilia Romagna, UBI Banca, Banco Bpm, and Mediobanca show gains between 1.1% and 1.8%.

08:30AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -12.30.

The S&P 500 futures currently trade two points, or 0.1%, below fair value.

In Washington, Senate Republicans are hoping to produce a revised version of the GOP health care bill later this week, but it's unclear if the proposed revisions will be enough to ensure the bill's passage. Currently, ten GOP senators have publicly opposed the bill, far more than the two votes that the GOP can afford to lose assuming that Vice President Mike Pence would vote in favor of the bill in the event of a tie.

On Wall Street, a delay in health care reform has been interpreted as a delay in tax reform given the new administration's determination to progress in that order--health care reform first, tax reform second. The promise of tax reform has been a huge driver in the stocks market's post-election rally as it is believed that such a piece of legislation would significantly increase corporate earnings.

08:05AM ET

[BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -12.10.

Like yesterday, things are pretty quiet on Wall Street this morning as investors focus on tomorrow's prepared remarks from Fed Chair Janet Yellen, a batch of influential economic data, including June PPI (Briefing.com consensus -0.1%), June CPI (Briefing.com consensus 0.0%), and June Retail Sales (Briefing.com consensus 0.1%), that will be released on Thursday and Friday, and the kickoff of earnings season. The S&P 500 futures trade three points, or 0.1%, below fair value.

Crude oil is currently down 1.0% at $43.98/bbl as concerns about global oversupply continue to weigh on the commodity, which is now trading 6.7% below where it closed last Tuesday's session. The negative performance will likely affect the energy sector, which is already down 1.0% this month and 14.7% this year, at the start of today's session.

U.S. Treasuries are trading modestly lower this morning with the benchmark 10-yr yield climbing one basis point to 2.39%. Meanwhile, the U.S. Dollar Index (95.86, +0.05) is up 0.1%.

Fed Governor Lael Brainard and Minneapolis Fed President Neel Kashkari (FOMC voter) will both be speaking today at 12:00 ET and 13:20 ET, respectively. In addition, investors will receive two economic reports--May Wholesale Inventories (Briefing.com consensus 0.3%) and May JOLTS--on Tuesday. Both pieces of data will be released at 10:00 ET.

In U.S. corporate news:

PepsiCo (PEP 114.90, +0.63): +0.6% after beating bottom-line estimates and slightly increasing earnings per share guidance for the year.
Snap (SNAP 16.35, -0.64): -3.8% after SNAP shares were downgraded to 'Equal-Weight' from 'Overweight' at Morgan Stanley.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note with Hong Kong's Hang Seng showing relative strength. Japan's Nikkei +0.6%, Hong Kong's Hang Seng +1.5%, China's Shanghai Composite -0.3%, India's Sensex +0.1%.
In economic data:
Japan's Machine Tool Orders +31.1% year-over-year (last 24.5%)
Australia's May Home Loans +1.0% month-over-month (expected 1.5%; last -1.9%). May Invest Housing Finance -1.4% month-over-month (last -2.3%). June NAB Business Confidence 9 (last 7) and June NAB Business Survey 15 (last 12).
New Zealand's June Electronic Card Retail Sales 0.0% month-over-month (expected 0.8%; last -0.4%); +4.5% year-over-year (last 5.2%)
In news:
The People's Bank of China conducted open market operations for the first time in 13 sessions amid speculation that cash would be hoarded ahead of tax payments, which will be made later this month.
In Japan, the approval rating of Prime Minister Shinzo Abe fell to a record low of 36.0%. A cabinet reshuffle aimed at improving support is still expected.

Major European indices trade mostly lower while Germany's DAX and Italy's MIB outperform. UK's FTSE -0.9%, France's CAC -0.2%, Germany's DAX +0.1%, Italy's MIB +0.2%.
In economic data:
Italy's May Industrial Production +0.7% month-over-month (expected 0.5%: last -0.5%); +2.8% year-over-year (consensus 2.2%; last 0.9%)
In news:
Opinion polls in Germany show Chancellor Angela Merkel's CDU/CSU coalition having a sizable lead over Social Democrats ahead of elections in the fall.

05:48AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.10. Nasdaq futures vs fair value: -7.00.
05:48AM ET

[BRIEFING.COM] Nikkei

...20195.5...+114.50

...+0.60%

Hang Seng

...25878...+377.60

...+1.50%

05:48AM ET

[BRIEFING.COM] FTSE

...7323.95...-46.10

...-0.60%

DAX

...12471.05...+25.10

...+0.20%

04:30PM ET

[BRIEFING.COM] The stock market kicked off the week with a rather uneventful, range-bound session that left the S&P 500 (+0.1%) just a step above its unchanged mark. The Nasdaq (+0.4%) outperformed the benchmark index while the Dow (unch) lagged, settling just a tick below its flat line. The major averages were hovering at their best marks of the day with less than 30 minutes to go in Monday's session, but a late bout of selling knocked them back to the middle of their trading ranges.

Sector movement was fairly modest throughout the first half of Monday's session, but things picked up a little bit in the afternoon. In general, cyclical sectors outperformed their countercyclical peers with growth-sensitive groups like technology (+0.8%), materials (+0.6%), energy (+0.3%), industrials (+0.2%), and consumer discretionary (+0.2%) settling in the green and defensive-oriented groups like health care (-0.3%), consumer staples (-0.7%), utilities (-0.2%), and telecom services (-0.5%) finishing in the red.

However, the cyclical vs countercyclical narrative doesn't fit Monday's session perfectly as the cyclical financial sector (-0.2%) struggled from the jump. The heavily-weighted group will remain a focal point this week as large-cap financial names like JPMorgan Chase (JPM 93.19, -0.66), Citigroup (C 67.65, -0.26), and Wells Fargo (WFC 55.59, -0.15) prepare to unofficially kick off earnings season with the release of their quarterly reports on Friday.

The top-weighted technology sector started the week with a solid performance that underpinned the broader market from virtually start to finish. The sector benefited from broad strength with chipmakers showing particular resolve, evidenced by the 1.2% increase in the PHLX Semiconductor Index. NVIDIA (NVDA 153.70, +6.94) led the semiconductor advance, jumping 4.7%, after the company's target price was raised to $200 at Needham.

Conversely, the consumer staples space registered a notable decline with Dow component Wal-Mart (WMT 73.23, -2.10) leading the retreat. The big-box retailer dropped 2.8% to a fresh three-month low with some traders citing Amazon's (AMZN 996.47, +17.71) third-annual Prime Day--a day in which the online retail giant offers Black Friday-types of deals to its Prime subscribers--as the catalyst to WMT's underperformance.

Also of note, crude oil futures rose 0.4% to $44.41/bbl after starting the session with a sizable loss of around 1.0%. OPEC announced that it may widen its production cut to include Nigeria and Libya, two countries that were excluded from the original agreement following years of civil unrest, but it's important to note that the headline didn't initially prompt a response from the commodity. Today's reversal was more likely technical in nature.

In the bond market, U.S. Treasuries settled Monday higher across the curve with the benchmark 10-yr yield dropping two basis points to 2.37%. Meanwhile, the U.S. Dollar Index (95.80, +0.02) finished flat.

Reviewing Monday's economic data, which was limited to May Consumer Credit:

The Consumer Credit report for May showed an increase of $18.4 billion while the Briefing.com consensus expected growth of $12.7 billion. The prior month's credit growth was revised to $12.9 billion from $8.1 billion.
Provided consumers weren't making greater use of revolving credit lines to cover basic needs due to a shortfall in income, this report can ostensibly be looked upon as a good sign for the economy since the expansion of credit is an integral contributor to economic growth. It is hard to say, though, because there isn't enough detail in the report and it tends to be subject to large revisions, which is why the market rarely shows much reaction to it.

Economic data will be limited again on Tuesday with investors receiving just two reports--May Wholesale Inventories (Briefing.com consensus 0.3%) and May JOLTS. Both reports will be released at 10:00 ET.

Nasdaq Composite +14.7% YTD
S&P 500 +8.4% YTD
Dow Jones Industrial Average +8.3% YTD
Russell 2000 +3.8% YTD

Dow: -5.82… | Nasdaq: +23.31… | S&P: +2.25…

NASDAQ Adv/Dec 1092/1673. …NYSE Adv/Dec 1484/1433

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
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