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 Post subject: July 12th Wednesday Trade Results - No Trades
PostPosted: Wed Jul 12, 2017 7:56 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
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Quote:
No trades today because the price action didn't produce any trade signals after I missed the opening Long position trade signal. Yet, I did get a chance to study other markets like the Euronext CAC 40 futures, Eurex DAX futures and the Euronext FTSE 100 futures. These are key markets I use sometimes to help with my trades in the Emini ES futures.

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=2597

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: +123.07… | Nasdaq: +67.87… | S&P: +17.72…
NASDAQ Vol: 1.8 bln… Adv: 1849… Dec: 803…
NYSE Vol: 794.2 mln… Adv: 2268… Dec: 690…

Moving the Market

Prepared remarks from Fed Chair Janet Yellen seen as relatively dovish

Apple (AAPL) struggles amid rumors of a possible iPhone 8 delay; tech sector still outperforms

Crude oil retraces portion of early gain after EIA reports increased U.S. production

Sector Watch
Strong: Technology, Materials, Real Estate
Weak: Financials, Energy, Telecom Services
04:30PM ET

[BRIEFING.COM] The stock market cruised to a comfortable win on Wednesday as investors dialed back their rate-hike expectations a bit following Fed Chair Janet Yellen's semi-annual monetary policy testimony. The Dow climbed 0.6% to a new record high while the Nasdaq and the S&P 500 settled with gains of 1.1% and 0.7%, respectively.

Fed Chair Yellen came off a bit more dovish in the prepared remarks she delivered before the House Financial Services Committee, saying that "...the federal funds rate would not have to rise all that much further to get to a neutral policy stance." This statement created a sense that the Fed may in fact follow a shorter path of rate hikes that will keep the longer-run neutral level of the federal funds rate below levels that prevailed in previous decades.

Today's statement eased some of the rate-hike concerns that surfaced last week following the release of the FOMC minutes from the June meeting, which initially left the impression that the Fed plans to press on with a tightening of policy despite the persistence of below-target inflation data. At the stock market's close, the implied probability of a December rate hike had declined to 52.0% from 58.9% on Tuesday, according to the fed funds futures market.

Treasuries rallied across the curve on Ms. Yellen's remarks with the benchmark 10-yr yield dropping four basis points to 2.32%. However, currency traders were a bit more undecided in their interpretations, leaving the U.S. Dollar Index (95.49, 0.00) at its unchanged mark.

On Wall Street, all 11 sectors finished in positive territory with the top-weighted technology group (+1.3%) pacing the advance. The tech space's heaviest component by market cap--Apple (AAPL 145.74, +0.21)--struggled amid continued concerns of production and delivery delays for the newest iPhone, but mega-cap names like Facebook (FB 158.90, +3.63), Microsoft (MSFT 71.15, +1.16), and Alphabet (GOOGL 967.66, +14.13) picked up the slack, settling with gains between 1.5% and 2.3%.

Chipmakers also outperformed, pushing the PHLX Semiconductor Index higher by 1.6%, with NVIDIA (NVDA 162.51, +6.63) leading the charge. The company jumped 4.3% after NVDA shares were upgraded to 'Buy' from 'Hold' at Sun Trust.

However, on the downside, a couple of notable sectors underperformed on Wednesday, keeping the broader market's gain somewhat in check. The most influential of these groups was the financial sector (+0.1%), which was weighed down by the notion that interest rates could be suppressed for longer than some expected.

The energy sector (+0.3%) also struggled after the weekly crude inventory report from the Energy Information Administration (EIA) showed that U.S. production increased by 59,000 barrels per day last week. However, on a positive note, the EIA did report a draw of 7.6 million barrels, which was much larger than the 2.9 million barrel decline that the consensus was anticipating.

Crude oil was trading around 2.5% above its flat line going into the EIA release, but gave back a good portion of that gain in the aftermath. The energy component settled higher by 1.1% at a price of $45.53/bbl.

As for the remaining sectors--consumer discretionary (+0.8%), industrials (+0.6%), materials (+1.1%), health care (+0.7%), consumer staples (+0.6%), utilities (+0.9%), telecom services (+0.5%), and real estate (+1.3%)--most finished roughly in line with the benchmark index.

Wednesday's economic data was limited to the Fed's Beige Book and the weekly MBA Mortgage Applications Index:

The Fed's Beige Book showed that economic activity expanded across all 12 Federal Reserve Districts in June at a slight to moderate pace. In addition, the majority of districts expect to see modest to moderate economic growth in the months ahead.
The weekly MBA Mortgage Applications Index declined 7.4% to follow last week's 1.4% increase.

On Thursday, investors will receive several economic reports, including the Producer Price Index for June (Briefing.com consensus -0.1%) at 8:30 ET, the weekly Initial Claims Report (Briefing.com consensus 245,000) also at 8:30 ET, and the June Treasury Budget at 14:00 ET.

Nasdaq Composite +16.3% YTD
S&P 500 +9.1% YTD
Dow Jones Industrial Average +9.0% YTD
Russell 2000 +5.0% YTD

Dow: +123.07… | Nasdaq: +67.87… | S&P: +17.72…

NASDAQ Adv/Dec 1849/803. …NYSE Adv/Dec 2268/690.

03:05PM ET

[BRIEFING.COM] The major averages appear that they will end the midweek session with a comfortable win moving into the final hour of action. The Dow Jones Industrial Average (+0.6%) is poised to register a new record close (21,529).

All 11 sectors are trading in the green this afternoon, but the influential financial group still lags, hovering just a tick above its unchanged mark. The top-weighted technology space (+1.3%) trades with the lightly-weighted real estate (+1.3%) and materials (+1.1%) groups at the top of the leaderboard while the remaining advancers hold gains between 0.3% and 0.8%.

On the earnings front, investors won't receive many notable reports between tonight's close and tomorrow's open, but it's worth pointing out that Delta Air Lines (DAL 55.42, +1.14) and Taiwan Semiconductor (TSM 35.66, +0.28) will both deliver their quarterly results tomorrow morning.

Dow: +136.40… | Nasdaq: +65.15… | S&P: +19.13…

NASDAQ Adv/Dec 1918/854. …NYSE Adv/Dec 2286/681.

02:35PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are down 0.43% at 82.6639
The dollar index is up 0.06% to 95.73.
WTI crude is up on the day following bullish EIA inventory data earlier today.
August futures are trading $0.47 higher to $45.49/bbl.
In other energy, July natural lost $0.058 to settle at $2.989 /MMBtu
Metals performed well with precious metals and copper settling higher
June gold gained $4.20 to settle at $12.18.80/oz, while July silver gained $0.15 to $15.89/oz
July copper gained $0.01 to $2.68/lb
Agriculture had a major catalyst today in the WASDE report:
December corn settled is $0.15 at $3.86/bu.
November soy settled down $0.07 at $10.35/bu.
September wheat settled down $0.14 at $5.37/bu.

Dow: +133.37… | Nasdaq: +64.90… | S&P: +19.10…

NASDAQ Adv/Dec 1926/836. …NYSE Adv/Dec 2306/644.

02:25PM ET

[BRIEFING.COM] Equity indices have been stuck in a pretty tight range this afternoon with the S&P 500 (+0.8%) hovering within a four-point range over the last two hours of action.

The Fed's Beige Book, which was released at the top of the hour, showed that economic activity expanded across all 12 Federal Reserve Districts in June at a slight to moderate pace. In addition, the majority of districts expect to see modest to moderate economic growth in the months ahead.

Tomorrow, investors will get their hands on the Producer Price Index for June, which the Briefing.com consensus expects will show a decline of 0.1%. The PPI reading will be released alongside the weekly Initial Claims Report (Briefing.com consensus 245,000) at 8:30 ET.

Dow: +135.73… | Nasdaq: +64.05… | S&P: +19.21…

NASDAQ Adv/Dec 1911/831. …NYSE Adv/Dec 2304/646.

01:55PM ET

[BRIEFING.COM] Equity indices currently hover near their best levels of the day with the Nasdaq (+1.0%) exhibiting relative strength.

The information technology sector (+1.1%) has been building strength this afternoon as mega-cap names like Facebook (FB 158.34, +3.08), Alphabet (GOOGL 967.78, +14.25), and Microsoft (MSFT 70.95, +0.96) do their best to mask the impact of Apple's (AAPL 145.48, -0.06) relative weakness. Chipmakers are also outperforming, evidenced by the 1.5% increase in the PHLX Semiconductor Index, which is on track for its fourth-consecutive advance.

In a day short on economic data, today's most notable economic report--the Fed's Beige Book for July--will cross the wires shortly at 14:00 ET.

Dow: +129.04… | Nasdaq: +60.77… | S&P: +18.13…

NASDAQ Adv/Dec 1928/806. …NYSE Adv/Dec 2336/595.

01:35PM ET

[BRIEFING.COM] The major U.S. indices continue to sport strong gains in today's session as investors cheer Fed Chair Janet Yellen's testimony in front of the House Financial Services Committee.

A look inside the Dow Jones Industrial Average shows that DuPont (DD 84.35, +1.78), Home Depot (HD 152.50, +1.90), & Microsoft (MSFT 70.85, +0.86) are outperforming. DuPont and pending merger partner Dow Chemical (DOW 66.00, +1.45) are displaying relative strength after announcing that they will divest a select portion of Dow AgroSciences' corn seed business in Brazil for a purchase price of $1.1 bln. The companies expect their combination to close this August.

Conversely, Apple (AAPL 145.18, -0.35) is the worst-performing Dow component amid continued concerns of production and delivery delays for the newest iPhone.

On the heels of today's strength, the DJIA is now up 0.55% this week.

Elsewhere, at the top of the hour, the Treasury's $20 bln 10-year reopening drew a high yield of 2.325% on a bid-to-cover of 2.45.

Dow: +116.61… | Nasdaq: +54.36… | S&P: +16.28…

NASDAQ Adv/Dec 1890/865. …NYSE Adv/Dec 2278/628.

01:05PM ET

[BRIEFING.COM] The stock market is trading solidly higher this afternoon following the release of Fed Chair Janet Yellen's prepared remarks, which investors have seemingly interpreted as being relatively dovish. The major averages are currently hovering in the upper half of their trading ranges with the benchmark S&P 500 sporting a gain of 0.7%.

Ms. Yellen has been taking questions from the House Financial Services Committee since delivering her semi-annual monetary policy testimony at 10:00 ET, but her prepared remarks were delivered to the public beforehand, crossing the wires at 8:30 ET, and immediately had an impact on U.S. markets.

The Treasury market moved sharply higher, reclaiming a good portion its two-week decline, as Ms. Yellen's remarks seemingly left the door open for a softer stance on rate hikes and thereby threw a wrench in the market's anticipation of a shift towards less-accomodative monetary policy from central banks around the globe. The benchmark 10-yr yield is down four basis points at 2.32%.

In the currency market, the U.S. Dollar Index (95.47, -0.02) has been up and down following the release of Ms. Yellen's prepared comments, but has since returned to its unchanged mark, which is where it sat ahead of the release. Meanwhile, equity futures extended their modest early-morning gains immediately following the release, setting the stage for a higher open on Wall Street.

The stock market did indeed open the midweek session in the green with the tech-heavy Nasdaq (+0.9%) showing relative strength. The S&P 500's technology sector (+1.0%) is currently outperforming the benchmark index with nearly all tech components advancing above their unchanged marks. However, Apple (AAPL 145.24, -0.29), the sector's top component by market cap, has struggled thus far amid speculation that shipments of the company's iPhone 8 might be delayed due to bugs that have yet to be fixed.

In total, ten of the eleven sectors are trading in positive territory, but the heavily-weighted financial sector (unch) has kept the broader market's gain in check as the lone laggard. The group has been weak throughout today's session amid the tumble in interest rates.

Elsewhere, the Department of Energy reported that U.S. crude inventories declined by 7.6 million barrels for the week ended July 7 while the consensus expected a draw of just 2.9 million barrels. However, on the downside, the report also revealed that U.S. production increased by 59,000 barrels per day.

Crude oil was trading around 2.5% above its flat line going into the release, but then gave back a sizable portion of that gain in the aftermath. WTI crude currently trades higher by 2.0% at $45.94/bbl.

On the data front, the weekly MBA Mortgage Applications Index declined 7.4% to follow last week's 1.4% increase. Investors will also receive the Fed's Beige Book for July at 14:00 ET.

Dow: +122.06… | Nasdaq: +60.84… | S&P: +17.43…

NASDAQ Adv/Dec 1994/749. …NYSE Adv/Dec 2370/551.

12:30PM ET

[BRIEFING.COM] The Russell 2000 (+0.8%) trades slightly ahead of the S&P 500 (+0.7%) this afternoon as small-cap stocks outperform.

Global bond markets have been selling off over the last two weeks in anticipation of a global shift towards less-accommodative monetary policy after the market interpreted ECB President Mario Draghi's comments on June 27 as relatively hawkish. However, the bond market has reclaimed a good portion of its two-week slide in today's session following relatively dovish remarks from Fed Chair Janet Yellen that seemingly left the door open for a softer stance on rate hikes.

The benchmark 10-yr yield is down four basis points at 2.32% while the 2-yr yield is down five basis points at 1.34%. The tumble in interest rates has weighed on the influential financial sector (unch) so far today, dragging the group to the bottom of the leaderboard.

Dow: +107.05… | Nasdaq: +57.80… | S&P: +16.30…

NASDAQ Adv/Dec 1993/749. …NYSE Adv/Dec 2360/548.

11:55AM ET

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

The top-weighted technology sector (+1.0%) trades ahead of the broader market this morning with nearly all of the sector's components trading in the green. Chipmakers are showing particular strength, evidenced by the 1.2% increase in the PHLX Semiconductor Index, with NVIDIA (NVDA 160.43, +4.62) leading the advance after the company's stock was upgraded to 'Buy' from 'Hold' at Sun Trust. NVDA shares are trading higher by 3.1%.

However, the technology sector's top component by market cap--Apple (AAPL 145.36, -0.16)--has struggled since the opening bell amid speculation that shipments of the company's iPhone 8 might be delayed due to bugs that have yet to be fixed.

Dow: +111.13… | Nasdaq: +56.16… | S&P: +15.73…

NASDAQ Adv/Dec 2003/739. …NYSE Adv/Dec 2324/551.

11:25AM ET

[BRIEFING.COM] The stock market has been in a sideways trend as of late with the S&P 500 (+0.7%) hovering within a two-point range over the last 30 minutes of action.

Amazon's (AMZN 1000.89, +6.76) third annual Prime Day--a day in which the online retail giant offers Black Friday-types of deals to its Prime subscribers--was a success according to the company, which called the event "the biggest day ever in Amazon history." Starting on Monday night, Prime Day lasted for 30 hours this year and grew by over 60.0% compared to the same 30 hours last year with more than 50.0% year-over-year growth in the number of Prime members who made a purchase.

The consumer discretionary sector (+0.7%), which is greatly influenced by Amazon's performance, is trading roughly in line with the broader market in today's session as AMZN shares sport a gain of 0.9%.

Dow: +133.36… | Nasdaq: +57.09… | S&P: +16.58…

NASDAQ Adv/Dec 2005/731. …NYSE Adv/Dec 2315/533.

10:55AM ET

[BRIEFING.COM] Equity indices are trading near their session highs this morning with the S&P 500 sporting a gain of 0.7%.

At the bottom of the hour, the Department of Energy reported that U.S. crude inventories declined by 7.6 million barrels for the week ended July 7 while the consensus expected a draw of just 2.9 million barrels. Crude oil was trading around 2.5% above its flat line going into the release, but has since given back a sizable portion of that gain. WTI crude currently trades higher by 0.9% at $45.45/bbl.

Fed Chair Janet Yellen read her prepared remarks in front of the Senate Banking Committee not long ago--the same remarks that were released to the public at 8:30 ET this morning--and she is now taking questions from the committee.

Dow: +145.23… | Nasdaq: +52.03… | S&P: +16.48…

NASDAQ Adv/Dec 2134/582. …NYSE Adv/Dec 2411/435.

10:50AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently XXX% at XXXX
Dollar index is currently up 0.2% at 95.86
Looking at energy...
Oil prices rallied as both API data, yesterday, and EIA data, today showed much larger than anticipated builds.
August WTI crude oil futures are now up $1.12 at $46.17/barrel
In other energy,
June natural gas is down $0.055 at $2.911/MMBtu
Moving on to metals...
Aug gold is up $6.20 at $1221.90/oz, while July silver is up $0.19 at $15.935/oz
July copper is now down $0.013 at $2.685/lb
In agriculture...
December corn futures are down $0.055 at 4.0875
November soy futures are down $0.06 at 10.3725
September wheat futures are down $0.075 at 5.455

Reminder: The USDA will release its monthly World Agricultural Supply and Demand Estimates (WASDE) report today at noon EST, which will most likely be a notable catalyst to agriculture prices such as corn, wheat and soybeans.

Dow: +147.92… | Nasdaq: +52.08… | S&P: +16.65…

NASDAQ Adv/Dec 2069/640. …NYSE Adv/Dec 2426/411.

10:00AM ET

[BRIEFING.COM] The major averages continue to hover around their opening levels in early action with the S&P 500 showing a gain of 0.7%.

All sectors are trading in the green this morning and the vast majority are performing at least as well as the benchmark index. The energy sector (+1.1%) is one of the strongest groups, underpinned by a 2.2% gain in the price of crude oil, which is trading at its best level in a week. The energy component has been helped by last night's API inventory report, which showed a draw of 8.1 million barrels for the week ended July 7. WTI crude trades at $46.03/bbl.

The Department of Energy will release its weekly crude inventory report at 10:30 ET with the consensus estimating that the reading will show a decline of 2.9 million barrels. The government's reading often deviates from the API's figures.

Dow: +157.47… | Nasdaq: +52.25… | S&P: +17.81…

NASDAQ Adv/Dec 2149/493. …NYSE Adv/Dec 2477/314.

09:45AM ET

[BRIEFING.COM] The major averages open Wednesday's session in the green with the S&P 500 sporting a gain of 0.6%.

Ten of eleven sectors are trading higher this morning with the heavily-weighted financial sector (-0.2%) being the only laggard. The financial sector's relatively weak performance comes alongside a rally in the bond market that has reduced the benchmark 10-yr yield by five basis points to 2.31%. Treasuries moved higher earlier this morning in reaction to the release of prepared remarks from Fed Chair Janet Yellen.

On the upside, the ten advancing sectors hold gains between 0.4% (telecom services) and 1.4% (real estate). The top-weighted technology group (+0.8%) is trading slightly ahead of the broader market, however, its top component by market cap--Apple (AAPL 145.60, +0.06)--struggles and is currently wrestling with its flat line.

Dow: +129.01… | Nasdaq: +50.82… | S&P: +15.77…

NASDAQ Adv/Dec 2078/511. …NYSE Adv/Dec 2441/301.

09:19AM ET

[BRIEFING.COM] S&P futures vs fair value: +12.50. Nasdaq futures vs fair value: +56.60.

Equity futures were hovering a step above fair value early this morning and then extended that modest gain following the release of prepared remarks from Fed Chair Janet Yellen. The S&P 500 futures are currently trading 13 points, or 0.5%, above fair value.

Fed Chair Janet Yellen will be delivering her semi-annual monetary policy testimony in front of the Senate Banking Committee today at 10:00 ET, but her prepared remarks were released ahead of time at 8:30 ET this morning. Her comments have been interpreted as relatively dovish by the market, sending both equity futures and Treasuries to new session highs.The benchmark 10-yr yield is down five basis points at 2.30% after hovering around the 2.34% level in front of the release. Meanwhile, the U.S. Dollar Index (95.59, +0.10) slipped from its flat line to -0.2% following the release, but now trades higher by 0.1%.

In her prepared remarks, Ms. Yellen validated much of the market's thinking, although she left the door cracked open for a softer stance on rate hikes (or the lack thereof) with her observation that at present she sees roughly equal odds the U.S. economy's performance will be somewhat stronger or somewhat less strong than the Fed currently projects.

Elsewhere, crude oil is on track to post its third-consecutive win in early action after the American Petroleum Institute (API) reported a draw of 8.1 million barrels for the week ended July 7. However, gains have been capped ahead of the Department of Energy's weekly inventory report, which will be released at 10:30 ET, as the government's figures often deviate notably from the API reading. WTI crude is currently up 2.0% at $45.94/bbl.

On the data front, the weekly MBA Mortgage Applications Index declined 7.4% to follow last week's 1.4% increase. Investors will also receive the Fed's Beige Book for July at 14:00 ET.

08:51AM ET

[BRIEFING.COM] S&P futures vs fair value: +9.50. Nasdaq futures vs fair value: +42.50.

The S&P 500 futures have moved higher in recent action following the release of prepared remarks from Fed Chair Janet Yellen. The S&P 500 futures trade ten points, or 0.4%, above fair value.

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note. The Bank of Japan stepped up its buying efforts, offering to purchase JPY330 billion worth of JGBs, up from JPY300 billion during the previous purchasing operation. Banks in China and Hong Kong outperformed after the People's Bank of China injected liquidity for the second day in a row. China's National Audit Office announced that improprieties were found in the financial statements of 18 firms out of 20 that were analyzed as part of the government's anti-graft campaign.

In economic data:
China's New Loans CNY1.54 trillion (expected CNY1.31 trillion; last CNY1.11 trillion) and M2 Money Stock +9.4% year-over-year (expected 9.5%; last 9.6%)
Japan's Tertiary Industry Activity Index -0.1% month-over-month (expected -0.5%; last 1.4%). June PPI 0.0% month-over-month, as expected (last 0.0%); +2.1% year-over-year, as expected (last 2.1%)
Australia's July Westpac Consumer Sentiment 0.4% (last -1.8%)
Singapore's May Retail Sales -1.0% month-over-month (last 1.7%); +0.9% year-over-year (consensus 1.8%; last 2.7%)
South Korea's May M2 Money Supply +7.2% (last 7.7%)

---Equity Markets---

Japan's Nikkei lost 0.5%. Sapporo Holdings, Familymart, Kirin Holdings, Mitsubishi Electric, Kubota, Yamato Holdings, TDK, Dainippon Screen Manufacturing, J Front Retailing, and Fanuc lost between 1.1% and 3.2%.
Hong Kong's Hang Seng climbed 0.6% to close just below its June record. Financials like ICBC, China Construction Bank, Bank of China, Bank of East Asia, and Hang Seng Bank advanced between 0.5% and 3.0%. On the downside, consumer names like China Mengniu Dairy and Want Want China posted respective losses of 2.7% and 1.0%.
China's Shanghai Composite shed 0.2%. Beijing Aerospace Changfeng, Kangmei Pharmaceutical, Ningbo Fubang Jingyue Group, Yangzhou Asiastar Bus, and Yunnan Bowin Technology posted losses between 3.5% and 4.8%.
India's Sensex added 0.2%, settling at a fresh record. Hindustan Unilever led with a gain of 2.0% while financials were mixed. SBI and ICICI Bank both gained near 1.0% while HDFC Bank and AXIS Bank ended flat.

Major European indices trade higher across the board with Italy's MIB (+1.4%) showing relative strength. The UK's FTSE (+1.0%) also appears among the leaders after Bank of England Deputy Governor for Monetary Policy Ben Broadbent said that it would be 'tricky' to raise interest rates just yet. The British pound is up against the dollar, rising 0.3% to 1.2891, while the euro trades flat at 1.1463.

In economic data:
Eurozone Industrial Production +1.3% month-over-month (expected 1.1%; last 0.3%); +4.0% year-over-year (consensus 3.6%; last 1.2%)
Germany's June WPI 0.0% month-over-month (expected 0.2%; last -0.7%); +2.5% year-over-year (last 3.1%)
UK's May Unemployment Rate 4.5% (expected 4.6%; last 4.6%) and June Claimant Count Change 6,000 (expected 10,000; last 7,500). May Average Earnings Index + Bonus +1.8%, as expected (last 2.1%)

---Equity Markets---

Germany's DAX trades up 0.9% with all but two components in the green. Infineon and Adidas are among the top performers, adding 2.0% and 1.4%, respectively. Automakers Daimler, BMW, and Volkswagen show gains between 1.3% and 1.9%. Financials trail the broader market with Commerzbank up 0.4% and Deutsche Bank higher by 0.1%.
UK's FTSE is higher by 1.0% with miners and select financials showing relative strength. Antofagasta, Glencore, Anglo American, and Fresnillo are up between 1.3% and 2.8% while Barclays, Direct Line Insurance, Prudential, Old Mutual, and RBS have risen between 1.4% and 2.4%.
France's CAC has gained 1.3% amid broad strength. Automotive supplier Valeo has gained 2.7% in response to reports that the company may sell its hydraulic actuator business to Raicam. Peugeot follows, climbing 2.4%, while Renault is up 1.8%. Financials like BNP Paribas, Societe Generale, and Credit Agricole have climbed between 1.4% and 1.8%.
Italy's MIB is up 1.4%. Saipem leads, advancing 3.8% amid an uptick in oil prices. Banca Generali, Banco Bpm, Banca Pop Emilia Romagna, Mediobanca, FinecoBank, and UniCredit show gains between 1.8% and 3.2%.

08:28AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +24.30.

The S&P 500 futures currently trade five points, or 0.2%, above fair value.

Health care reform has made its way back into the news cycle this week with Senate Majority Leader Mitch McConnell (R-KY) announcing yesterday that Senate Republicans plan to release an update version of the health care bill on Thursday. Senator McConnell also announced that the upper house will delay its August recess by two weeks, giving the GOP more time to iron out the details.

At this point, passage of the bill looks unlikely with Senator John McCain (R-AZ) saying that it is "very possible, very probable" that the current Senate version is dead. The GOP can only afford to lose two votes in the Senate, assuming that Vice President Mike Pence would be willing to vote in favor of the bill in the event of a tie.

08:04AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +22.10.

The S&P 500 has gotten off to a flat start this week after Monday's slim victory was erased with a narrow loss on Tuesday. This morning, sentiment appears to be in the benchmark index's favor with the S&P 500 futures trading five points, 0.2%, above fair value.

Fed Chair Janet Yellen will be delivering her semi-annual monetary policy testimony in front of the Senate Banking Committee today at 10:00 ET, but her prepared remarks will be released a bit earlier at 8:30 ET. Investors will be analyzing her language closely, looking for some additional insight into the central bank's thinking, especially in light of last Friday's Employment Situation Report--which showed strong job growth, but below-consensus wage growth, yet again.

On a related note, Politico reported on Tuesday evening that National Economic Council Director Gary Cohn is President Trump's top candidate to replace Fed Chair Janet Yellen at the end of her term, which is set to expire at the end of January 2018.

U.S. Treasuries are rallying this morning, in a curve-steepening trade, in front of Ms. Yellen's testimony. The benchmark 10-yr yield is down one basis point at 2.35% while the 2-yr yield has dropped two basis points to 1.37%. Meanwhile, the U.S. Dollar Index (95.50, +0.01) hovers at its unchanged mark.

Crude oil is on track to post its third-consecutive win in early action after the American Petroleum Institute (API) reported a draw of 8.1 million barrels for the week ended July 7. However, gains have been capped ahead of the Department of Energy's weekly inventory report, which will be released at 10:30 ET, as the government's figures often deviate notably from the API reading. WTI crude is currently up 1.4% at $45.68/bbl.

On the data front, the weekly MBA Mortgage Applications Index declined 7.4% to follow last week's 1.4% increase. Investors will also receive the Fed's Beige Book for July at 14:00 ET.

In U.S. corporate news:

NVIDIA (NVDA 157.15, +1.27): +0.8% after NVDA shares were upgraded to 'Buy' from 'Hold' at SunTrust.
PayPal (PYPL 55.40, +0.64): +1.2% after announcing that PayPal customers will now be able to pay for App Store, Apple Music, iTunes, and iBooks purchases across iPhone, iPad, and iPod Touch devices.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note. Japan's Nikkei -0.5%, Hong Kong's Hang Seng +0.6%, China's Shanghai Composite -0.2%, India's Sensex +0.2%.
In economic data:
China's New Loans CNY1.54 trillion (expected CNY1.31 trillion; last CNY1.11 trillion) and M2 Money Stock +9.4% year-over-year (expected 9.5%; last 9.6%)
Japan's Tertiary Industry Activity Index -0.1% month-over-month (expected -0.5%; last 1.4%). June PPI 0.0% month-over-month, as expected (last 0.0%); +2.1% year-over-year, as expected (last 2.1%)
Australia's July Westpac Consumer Sentiment 0.4% (last -1.8%)
Singapore's May Retail Sales -1.0% month-over-month (last 1.7%); +0.9% year-over-year (consensus 1.8%; last 2.7%)
South Korea's May M2 Money Supply +7.2% (last 7.7%)
In news:
The Bank of Japan stepped up its buying efforts, offering to purchase JPY330 billion worth of JGBs, up from JPY300 billion during the previous purchasing operation.
Banks in China and Hong Kong outperformed after the People's Bank of China injected liquidity for the second day in a row.
China's National Audit Office announced that improprieties were found in the financial statements of 18 firms out of 20 that were analyzed as part of the government's anti-graft campaign.

Major European indices trade higher across the board. Germany's DAX +0.7%, UK's FTSE +0.8%, France's CAC +0.9%, Italy's MIB +1.2%.
In economic data:
Eurozone Industrial Production +1.3% month-over-month (expected 1.1%; last 0.3%); +4.0% year-over-year (consensus 3.6%; last 1.2%)
Germany's June WPI 0.0% month-over-month (expected 0.2%; last -0.7%); +2.5% year-over-year (last 3.1%)
UK's May Unemployment Rate 4.5% (expected 4.6%; last 4.6%) and June Claimant Count Change 6,000 (expected 10,000; last 7,500). May Average Earnings Index + Bonus +1.8%, as expected (last 2.1%)
In news:
Bank of England Deputy Governor for Monetary Policy Ben Broadbent said that it would be 'tricky' to raise interest rates just yet.

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +16.00.
05:52AM ET

[BRIEFING.COM] Nikkei

...20098...-97.10

...-0.50%

. Hang Seng

...26044...+166.00

...+0.60%

05:52AM ET

[BRIEFING.COM] FTSE

...7386.89...+57.10

...+0.80%

. DAX

...12495.00...+58.00

...+0.50%

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 10.91, -0.20)--which points to the market's anticipation of short-term uncertainty--declined by 1.8%. 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 (+0.5%) 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 155.27, +1.77) 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. The health care sector (-0.1%) finished in line with the broader market.

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 for July. The two reports will be released at 7:00 ET and 14:00 ET, respectively.

Nasdaq Composite +15.1% YTD
S&P 500 +8.3% YTD
Dow Jones Industrial Average +8.3% YTD
Russell 2000 +4.1% YTD

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

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

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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