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 Post subject: July 31st Monday Trade Results - Profits $2987.50
PostPosted: Mon Jul 31, 2017 5:20 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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Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
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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 @ $2987.50 dollars or +59.75 points, Light Crude Oil CL ($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 @ $2987.50 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=2610

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.

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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: +60.81… | Nasdaq: -26.55… | S&P: -1.80…
NASDAQ Vol: 1.89 bln… Adv: 1294… Dec: 1548…
NYSE Vol: 1.01 bln… Adv: 1565… Dec: 1384…

Moving the Market

Growth stocks weigh; Amazon (AMZN), Facebook (FB), Alphabet (GOOGL) show sizable losses

Heavily-weighted financial sector outperforms amid broad strength

Crude oil moves sharply higher, lifts energy stocks

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

[BRIEFING.COM] The stock market ended July's last trading session on a mixed note; the Dow climbed 0.3%, to another record high, while the S&P 500 and the Nasdaq settled lower by 0.1% and 0.4%, respectively. The major averages drifted within a fairly narrow range from start to finish. For the month, the S&P 500 added 1.9%.

Monday's action resembled a sector rotation trade as the four advancing sectors--financials (+0.6%), energy (+0.2%), utilities (+0.4%), and telecom services (+0.4%)--have struggled to keep pace with the broader market throughout the year. On the flip side, the strongest sector in 2017--information technology (-0.5%)--settled near the bottom of the leaderboard.

The heavily-weighted financial sector benefited from broad strength with just about all of its components finishing in positive territory. Meanwhile, the energy group leaned on Dow components Exxon Mobil (XOM 80.04, +0.44) and Chevron (CVX 109.19, +1.07), which advanced 0.6% and 1.0%, respectively.

On a related note, crude oil settled in positive territory for the sixth session in a row thanks to a sharp afternoon rally. The commodity went from a loss of 0.8% to a gain of 1.0% in about an hour, eventually settling higher by 0.9% at a price of $50.20/bbl. Today's advance left crude oil higher by 9.0% for the month of July, its best month since April 2016.

The technology and materials spaces were the weakest sectors on Tuesday, dropping 0.5% and 0.8%, respectively. Mega-cap tech names like Facebook (FB 169.25, -3.20) and Alphabet (GOOGL 945.50, -12.83) weighed on the technology group, losing 1.9% and 1.3%, respectively. Chipmakers also underperformed, sending the PHLX Semiconductor Index lower by 0.7%.

Today's tech retreat precedes tomorrow's main event--the release of Apple's (AAPL 148.73, -0.77) latest earnings report. Apple, which is the largest S&P 500 component by market cap, will deliver its quarterly results following Tuesday's closing bell. Entering Tuesday's session, AAPL shares hold a huge year-to-date gain of 28.4%.

As for the remaining sectors--consumer discretionary (-0.1%), industrials (-0.1%), health care (-0.1%), consumer staples (-0.1%), and real estate (-0.1%)--losses were very modest.

In M&A news, Discovery Communications (DISCA 24.60, -2.20) plunged 8.2% after agreeing to acquire Scripps Networks (SNI 87.41, +0.50) for $14.6 billion, or $90 per share, in cash and stock.

On a separate note, reports indicate that SoftBank (SFTBY 40.15, -1.37)--the parent company of Sprint (S 7.98, -0.24)--is still interested in acquiring Charter Communications (CHTR 391.91, +21.65) despite Charter saying that it is not interested in acquiring Sprint.

In the bond market, U.S. Treasuries settled Monday's session relatively flat with the benchmark 10-yr yield finishing unchanged at 2.29%. The 2-yr yield climbed one basis point to 1.36%.

On the political front, the White House announced that Anthony Scaramucci will be leaving his role as White House Communications Director, giving newly appointed Chief of Staff John Kelly the ability to build his own team. The equity market had a muted reaction to the news.

Reviewing Monday's economic data, which was limited to July Chicago PMI and June Pending Home Sales:

Chicago PMI for July decreased to 58.9 from 65.7 in June while the Briefing.com consensus expected a reading of 60.0.
The key takeaway from the report is that the headline dip reflects some normal slowing after a remarkably strong month in June. All five barometer components declined in July, with new orders and production setting the pace.
Pending Home Sales for June rose 1.5% (Briefing.com consensus +1.1%). Today's reading follows a revised 0.7% decrease in May (from -0.8%).

On Tuesday, investors will receive several economic reports, including June Personal Income (Briefing.com consensus 0.3%) and Personal Spending (Briefing.com consensus 0.1%) at 8:30 ET, June Construction Spending (Briefing.com consensus 0.5%) at 10:00 ET, and the July ISM Index (Briefing.com consensus 56.2) also at 10:00 ET.

In addition, July auto and truck sales will be released throughout the day.

Nasdaq Composite +17.9% YTD
S&P 500 +10.3% YTD
Dow Jones Industrial Average +10.8% YTD
Russell 2000 +5.0% YTD

Dow: +60.81… | Nasdaq: -26.55… | S&P: -1.80…

NASDAQ Adv/Dec 1294/1548. …NYSE Adv/Dec 1565/1384.

03:00PM ET

[BRIEFING.COM] The major averages continue hovering near their recent levels moving into the final stretch. The Dow (+0.3%) looks poised for another record close while the S&P 500 trades flat.

Investors will receive earnings reports from several notable companies on Tuesday morning, including Pfizer (PFE 33.31, +0.15), Simon Properties (SPG 158.39, -2.14), and Sprint (S 7.97, -0.26) just to name a few. However, arguably the most notable report of the earnings season will cross the wires on Tuesday afternoon when Apple (AAPL 148.45, -1.04)--the largest S&P 500 component by market cap--delivers its quarterly report.

In Washington, Anthony Scaramucci, who was appointed as the White House Communications Director a little over a week ago, has been removed from his position at the request of President Trump's new Chief of Staff John Kelly.

Dow: +75.85… | Nasdaq: -27.88… | S&P: -0.62…

NASDAQ Adv/Dec 1297/1301. …NYSE Adv/Dec 1567/1339.

02:40PM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.11% at 84.3905.
Dollar index is currently up 0.4% at 92.89.
Sept WTI crude is up on the day.
Futures settled $0.46 higher to $50.20/barrel.
In other energy, Sept natural gas sold off settling down $0.15 to settle at $2.79/MMBtu
Precious metals and copper settled higher:
Dec gold gained $1.70 to settle at $1275.20/oz, while September silver gained $0.09 to $16.77/oz
September copper gained $0.01 to $2.89/lb
Finally, agriculture was lower:
September corn is down $0.03 at $3.72/bu (Note: December corn has higher volume currently, and settled $0.03 lower at $3.89/bu)
November soy is down $0.06 at $10.07/bu.
September wheat is down $0.06 at $4.76/bu.

NOTE: Front month for Natural Gas is now September and for gold it is now December

Dow: +82.28… | Nasdaq: -27.04… | S&P: -0.15…

NASDAQ Adv/Dec 1317/1516. …NYSE Adv/Dec 1586/1317.

02:30PM ET

[BRIEFING.COM] The tech-heavy Nasdaq (-0.4%) continues to lag this afternoon and is on track to register its third loss in a row.

Chipmakers exhibit relative weakness, evidenced by the 0.7% decrease in the PHLX Semiconductor Index--which, like the Nasdaq, is on track for its third-consecutive loss. Micron (MU 28.06, -1.21) is the weakest SOX component, plunging 4.1% to its lowest level in over two months. However, despite today's tumble, Micron is still trading comfortably ahead of the broader market for the year, up 28.0%.

The top-weighted technology sector (-0.5%) has struggled throughout today's session. In addition to chipmakers, mega-cap components like Facebook (FB 169.17, -3.27) and Alphabet (GOOGL 944.59, -13.52) have weighed on the group, dropping 1.9% and 1.4%, respectively.

Also of note, crude oil has moved sharply higher in recent action, exchanging a loss of around 1.0% for a gain of around 1.0%. WTI crude trades at a price of $50.15/bbl.

Dow: +92.26… | Nasdaq: -23.21… | S&P: +1.60…

NASDAQ Adv/Dec 1319/1494. …NYSE Adv/Dec 1616/1279.

02:00PM ET

[BRIEFING.COM] The major averages continue trending near their recent levels.

Transports are struggling once again today, evidenced by the 0.3% decrease in the Dow Jones Transportation Average, which dropped 2.6% last week. The DJTA is a leading indicator for the U.S. economy, meaning that it tends to do well (or poorly) when the economic outlook is bright (or dim). Today, a little more than half of the DJTA's 20 components are trading in the red with Avis Budget (CAR 31.38, -1.22) leading the retreat; CAR shares are down 3.7%.

However, despite transports' weak performance, the industrial sector (+0.1%) has manged to keep in line with the broader market. Defense names like Boeing (BA 244.26, +2.98) and Lockheed Martin (LMT 293.11, +2.70) exhibit relative strength, up 1.3% and 0.9%, respectively. Boeing's target price was raised to $280 from $240 at JP Morgan this morning.

Dow: +97.50… | Nasdaq: -23.43… | S&P: +1.46…

NASDAQ Adv/Dec 1305/1522. …NYSE Adv/Dec 1545/1341.

01:35PM ET

[BRIEFING.COM] The major U.S. indices are currently trading mixed as stocks get a quiet start to another busy summer week of data and earnings reports.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 109.69, +1.57), Boeing (BA 244.32, +3.05), & Verizon (VZ 48.53, +0.59) are outperforming. Chevron is leading the charge higher as the energy sector as a whole continues to rally on the heels of the recent recovery in crude oil futures, while Verizon sees further buying interest following last week's earnings.

Conversely, DuPont (DD 82.78, -1.20) is the worst-performing Dow component following this weekend's WSJ report that several activist investors are joining together to voice their opposition to DuPont's current post merger plans with Dow Chemical (DOW 64.68, -1.00).

Starting off the week on a high note, the DJIA at current levels is poised finish July with gains of 2.7%.

Dow: +84.89… | Nasdaq: -24.33… | S&P: +0.21…

NASDAQ Adv/Dec 1262/1584. …NYSE Adv/Dec 1446/1410.

01:05PM ET

[BRIEFING.COM] The major averages are trading mixed this afternoon with the Dow (+0.4%) and the S&P 500 (+0.1%) sporting modest gains while the Nasdaq (-0.3%) holds a modest loss. Stocks have been ticking up in recent action and currently hover near the middle of today's trading range.

Mega-cap growth stocks like Amazon (AMZN 998.59, -21.87), Facebook (FB 170.42, -2.03), and Alphabet (GOOGL 946.35, -11.97)--all three of which have traded far ahead of the broader market so far this year--have weighed on the Nasdaq today following last week's earnings reports. The three companies currently hold losses of 2.2%, 1.3%, and 1.2%, respectively.

Meanwhile, Apple (AAPL 148.76, -0.73)--the largest company in the S&P 500 by market cap and another top performer this year--is also trading lower today, down 0.5%, ahead of its latest earnings report, which will be released following Tuesday's closing bell.

Unsurprisingly, the top-weighted technology sector (-0.4%), which houses Apple, Facebook, and Alphabet, underperforms. Meanwhile, the consumer discretionary space (unch), which houses Amazon, trades in line with the broader market.

Within the consumer discretionary space, Charter Communications (CHTR 388.89, +18.64) is one of the strongest performers, up 5.0%, after saying that it is not interested in acquiring Sprint (S 8.01, -0.20). However, reports indicate that SoftBank (SFTBY 40.29, -1.22)--Sprint's majority owner--still might be interested in orchestrating a merger with Charter Communications.

Also of note, Scripps Networks (SNI 87.32, +0.42) is up 0.5% after Discovery Communications (DISCA 24.53, -2.28) offered to acquire SNI for $14.6 billion, or $90 per share in cash and stock. Conversely, DISCA shares have plunged 8.5% following the news.

In total, only four sectors--technology (-0.3%), real estate (-0.6%), materials (-0.6%), and consumer discretionary (unch)--are trading in negative territory at midday. Meanwhile, the seven advancers hold gains between 0.1% and 0.8%. The heavily-weighted financial sector is easily the top performer, trading higher by 0.8%, amid broad strength.

Today's activity shows signs of a "sector rotation trade" as the top-performing sector of the year--technology--faces selling pressure while a group that has struggled to keep pace with the broader market in 2017--financials--has seen an increase in buying interest.

Outside of the equity market, U.S. Treasuries are trading relatively flat today, leaving the benchmark 10-yr yield unchanged at 2.29%. Meanwhile, the U.S. Dollar Index (92.84, -0.36) is down 0.4% with the greenback losing 0.5% against the euro (1.1814) and 0.2% against the yen (110.42). Crude oil is down 0.7% at a price of $49.35/bbl.

Reviewing Monday's economic data, which was limited to July Chicago PMI and June Pending Home Sales:

Chicago PMI for July decreased to 58.9 from 65.7 in June while the Briefing.com consensus expected a reading of 60.0.
The key takeaway from the report is that the headline dip reflects some normal slowing after a remarkably strong month in June. All five barometer components declined in July, with new orders and production setting the pace.
Pending Home Sales for June rose 1.5% (Briefing.com consensus +1.1%). Today's reading follows a revised 0.7% decrease in May (from -0.8%).

Dow: +85.15… | Nasdaq: -16.69… | S&P: +1.59…

NASDAQ Adv/Dec 1230/1605. …NYSE Adv/Dec 1435/1412.

12:25PM ET

[BRIEFING.COM] Equity indices continue trending sideways in early-afternoon action. The S&P 500 clings to its unchanged mark while the Nasdaq (-0.3%) exhibits relative weakness.

Facebook (FB 169.90, -2.55) is one of the top-weighted technology sector's (-0.4%) weakest components today, dropping 1.6%, after the social media giant was downgraded to 'Sell' at Pivotal Research Group this morning. Brian Wieser--the Pivotal Research analyst who downgraded Facebook--said that he'd rather be exposed to Alphabet (GOOGL 943.25, -15.08) than Facebook in the current advertising market. However, despite Mr. Wieser's stated preference, GOOGL shares are also trading solidly lower, down 1.5%.

Both of the aforementioned companies have weighed heavily on the Nasdaq today, but not as much as Amazon (AMZN 996.21, -24.24), which is down 2.4%. The online retailer is currently challenging its 50-day simple moving average (966.62), but the key technical level has acted as an area of support thus far.

Dow: +79.79… | Nasdaq: -20.67… | S&P: +0.64…

NASDAQ Adv/Dec 1129/1668. …NYSE Adv/Dec 1332/1501.

12:00PM ET

[BRIEFING.COM] The benchmark S&P 500 has ticked up into positive territory as of late and currently trades in the middle of today's trading range.

Crude oil is currently in danger of breaking its five-session winning streak as the WTI crude futures trade 0.7% lower at $49.35/bbl. The commodity surged 8.7% last week, climbing to a fresh two-month high. The five-day rally began on Monday following news that Saudi Arabia will limit its oil exports in August. Then, on Wednesday, the commodity received another boost from a much better than expected crude inventory report from the Department of Energy.

Despite crude oil's slip in today's session, the energy sector (+0.1%) is trading a tick ahead of the broader market. Dow component Chevron (CVX 109.31, +1.19) is one of the sector's top-performers with today's 1.1% advance putting the company above its 50-day simple moving average (108.21).

Dow: +77.09… | Nasdaq: -15.74… | S&P: +0.30…

NASDAQ Adv/Dec 1166/1649. …NYSE Adv/Dec 1322/1495.

11:40AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.29% at 84.2377.
Dollar index is currently down 0.14% at 93.13
Looking at energy...
Sept WTI crude oil futures are now down $0.30 at $49.41/barrel
Sept natural gas is down $0.117 at $2.824/MMBtu
Moving on to metals...
Dec gold is down $1.10 at $1274.20/oz, while Sept silver is up $0.145 at $16.84/oz
Sept copper is now up $0.015 at $2.89/lb
In agriculture...
Sept corn futures are down $0.04 at $3.84/bu
November soy futures are down $0.0925 at $10.0375/bu
Sept wheat futures are down $0.0375 at $4.7725/bu

NOTE: Front month for Natural Gas is now September and for gold it is now December

Dow: +84.03… | Nasdaq: -16.64… | S&P: +0.9…

NASDAQ Adv/Dec 1140/1652. …NYSE Adv/Dec 1326/1488.

11:25AM ET

[BRIEFING.COM] The S&P 500 hovers just a tick below its unchanged mark. Meanwhile, small caps underperform, sending the Russell 2000 lower by 0.5%.

Five of the eleven sectors are trading in the green with gains ranging from 0.1% to 0.6%. The heavily-weighted financial space (+0.6%) currently hovers at the top of the sector standings amid broad strength. On the flip side, the lightly-weighted real estate space (-0.7%) is the weakest sector while the remaining laggards show losses of no more than 0.4%.

In the bond market, U.S. Treasuries are trading slightly lower with the benchmark 10-yr yield climbing one basis point to 2.30%. The 2-yr yield (1.36%) is also up one basis point.

Dow: +76.12… | Nasdaq: -24.32… | S&P: -0.48…

NASDAQ Adv/Dec 1108/1667. …NYSE Adv/Dec 1329/1477.

11:00AM ET

[BRIEFING.COM] The major averages are trading mixed this morning with the Dow (+0.3%) showing relative strength and the Nasdaq (-0.4%) showing relative weakness. The benchmark S&P 500 trades lower by 0.1%.

Amazon (AMZN 997.42, -22.72) has weighed on the Nasdaq in early action, dropping another 2.2% to extend its post-earnings decline to 4.6%. The online retailer missed earnings expectations in its most recent earnings report, which was released on Thursday evening. Today's tumble places AMZN shares right at their 50-day simple moving average (996.67).

Within the Dow, Boeing (BA 245.99, +4.74) is easily the top-performer once again today, climbing another 2.0% to extend its post-earnings advance to 15.8%. The aerospace company has been rallying since it beat bottom-line estimates and issued above-consensus guidance last Wednesday morning.

Dow: +64.37… | Nasdaq: -26.65… | S&P: -2.24…

NASDAQ Adv/Dec 1005/1765. …NYSE Adv/Dec 1198/1586.

10:00AM ET

[BRIEFING.COM] Equity indices have ticked down from their opening levels. The S&P 500 currently holds a slim gain of 0.1%.

Just released, Pending Home Sales for June rose 1.5% (Briefing.com consensus +1.1%). Today's reading follows a revised 0.7% decrease in May (from -0.8%).

Dow: +64.71… | Nasdaq: -3.12… | S&P: +1.14…

NASDAQ Adv/Dec 1158/1494. …NYSE Adv/Dec 1200/1475.

09:45AM ET

[BRIEFING.COM] The major averages opened Monday's session in the green with the S&P 500 sporting a modest gain of 0.2%.

Over half of the 11 sectors are trading in the green with the financials (+0.5%) and industrials (+0.4%) groups leading the charge. On the flip side, the telecom services space (-0.5%) is the weakest group while the remaining laggards hold losses of no more than 0.1%.

Just reported, Chicago PMI for July decreased to 58.9 from 65.7 in June while the Briefing.com consensus expected a reading of 60.0.

Dow: +71.64… | Nasdaq: +17.50… | S&P: +5.02…

NASDAQ Adv/Dec 1447/1118. …NYSE Adv/Dec 1443/1143.

09:19AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +15.40.

The stock market looks poised to open Monday's session in the green as the S&P 500 futures currently trade five points, or 0.2%, above fair value.

Tensions between the U.S. and North Korea intensified over the weekend as the U.S. responded to North Korea's latest missile test, which occurred on Friday, by conducting a successful test of its Alaska-based THADD defense system and flying two B1-bombers over the Korean peninsula. However, investors have not been fazed by the ongoing development.

In U.S. corporate news, Charter Communications (CHTR 393.16, +22.90) is up 6.2% in pre-market action after saying that it is not interested in acquiring Sprint (S 8.20, -0.02). However, reports indicate that SoftBank (SFTBY 41.52, 0.00)--Sprint's majority owner--still might be interested in orchestrating a merger with Charter Communications.

Meanwhile, Scripps Networks (SNI 87.93, +1.02) is up 1.2% after Discovery Communications (DISCA 26.55, -0.25) offered to acquire SNI for $14.6 billion, or $90 per share in cash and stock.

U.S. Treasuries are trading slightly lower this morning with the benchmark 10-yr yield climbing one basis point to 2.30%. Meanwhile, the U.S. Dollar Index (93.31, +0.11) is up 0.1%, WTI crude is down 0.5% at $49.46/bbl, and gold is lower by 0.2% at $1,266.01/ozt.

On the data front, investors will receive just two pieces of economic data--July Chicago PMI (Briefing.com consensus 60) and June Pending Home Sales (Briefing.com consensus 1.1%). The two reports will be released at 9:45 ET and 10:00 ET, respectively.

08:51AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +19.80.

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

Equity indices in the Asia-Pacific region began the week on a mixed note. Japan's Prime Minister Shinzo Abe and U.S. President Donald Trump held a phone conversation and agreed to take additional action against North Korea following Friday's missile launch. On a related note, South Korea and the United States conducted a joint missile drill over the weekend. Economic data from the region showed below-consensus Manufacturing PMI from China, which stayed in expansionary territory despite missing expectations.

In economic data:
China's July Manufacturing PMI 51.4 (expected 51.6; last 51.7) and July Non-Manufacturing PMI 54.5 (last 54.9)
Japan's June Industrial Production +1.6% month-over-month expected 1.7%; last -3.6%). June Housing Starts +1.7% year-over-year (expected -0.1%; last -0.3%) and June Construction Orders +2.3% year-over-year (last -0.5%)
Australia's June HIA New Home Sales -6.9% month-over-month (last 1.1%) and June Private Sector Credit +0.6% month-over-month (expected 0.4%; last 0.4%). MI Inflation Gauge 0.1% month-over-month (last 0.1%)
New Zealand's July ANZ Business Confidence 19.4 (last 24.8) and June Building Consents -1.0% month-over-month (last 6.9%)
Hong Kong's June M3 Money Supply +15.9% (last 15.5%)

---Equity Markets---

Japan's Nikkei shed 0.2%. Oki Electric lost 10.2%, Konica Minolta fell 8.9%, and Fujikura dropped 3.4% in reaction to disappointing earnings. Fanuc, Kikkoman, Terumco, SUMCO, Bridgestone, and Familymarty posted losses between 1.1% and 3.1%. On the upside, Kobe Steel jumped 9.1% after upbeat earnings while Isuzu, TDK, Kyocera, and Konami advanced between 2.1% and 6.0%.
Hong Kong's Hang Seng climbed 1.3% to a fresh high for the year. Financials displayed relative strength with AIA Group, HSBC, BoC Hong Kong, Ping An Insurance, Bank of China, Hang Seng Bank, and ICBC rising between 0.9% and 3.3%. On the downside, China Mengniu Dairy was the weakest performer, falling 1.8%.
China's Shanghai Composite climbed into the afternoon, rising 0.6%. Shenghe Resources Holding, Tongwei, China Northern Rare Earth, Aluminum Corp of China, Shanghai Shibei Hi-Tech, and Xining Special Steel all gained near the limit, 10.0%.
India's Sensex advanced 0.6% with help from most components. SBI spiked 4.5% after introducing a two-tiered savings rate. ICICI Bank, AXIS Bank, and HDFC Bank gained between 0.3% and 2.0%. Drug makers Dr. Reddy's Labs and Sun Pharma underperformed, falling 3.1% and 3.5%, respectively.

Major European indices trade in the green with Italy's MIB (+0.7%) setting the pace. European Central Bank member Sabine Lautenschlaeger said it is important to prepare for a withdrawal of monetary stimulus and that the unwind of asset purchases will be a lengthy process. Fitch affirmed France's 'AA' rating with a Stable outlook.

In economic data:
Eurozone July CPI +1.3% year-over-year, as expected (last 1.3%); Core CPI +1.2% year-over-year (consensus 1.1%; last 1.1%). June Unemployment Rate 9.1% (expected 9.2%; last 9.2%)
Germany's June Retail Sales +1.1% month-over-month (expected 0.2%; last 0.5%); +1.5% year-over-year (consensus 2.7%; previous 4.9%)
UK's June Mortgage Approvals 64,680 (expected 65,000; last 65,110) and June Mortgage Lending GBP4.10 billion (expected GBP3.40 billion; last GBP3.90 billion)
Italy's June Unemployment Rate 11.1% (expected 11.3%; last 11.3%). July CPI +0.1% month-over-month, as expected (last -0.1%); +1.1% year-over-year, as expected (last 1.2%). June PPI +0.4% month-over-month (last -0.3%); +3.1% year-over-year (last 2.8%)
Spain's May Current Account surplus expanded to EUR2.57 billion from EUR450 million

---Equity Markets---

France's CAC trades just a tick above its flat line with Veolia Environnement rising 2.5% in reaction to better than expected earnings. Sanofi has climbed 0.8% after beating earnings expectations while growth-sensitive names like ArcelorMittal, Solvay, Vinci, Engie, Total, and Michelin are up between 0.3% and 0.9%. On the downside, Legrand has slid 3.0% after disappointing results. Financials Credit Agricole, BNP Paribas, and Societe Generale are down between 0.1% and 0.8%.
Germany's DAX trades up 0.3%. BASF, RWE, and E.ON lead with gains of 2.1% apiece. Financials are mixed with Commerzbank adding 0.4% while Deutsche Bank is down 1.1%. BMW, Volkswagen, and Daimler show losses between 0.5% and 1.0%.
UK's FTSE has climbed 0.5% with help from energy names and select financials. BP and Royal Dutch Shell are higher by 1.1% and 1.4%, respectively, while Hargreaves Lansdown, HSBC, Prudential, Standard Life, Aviva, and RBS show gains between 0.5% and 2.7%. Tobacco stocks like Imperial Brands and British American Tobacco hold respective losses of 5.1% and 4.1% after the FDA announced it will pursue lower nicotine levels in cigarettes.
Italy's MIB outperforms with a gain of 0.7%. Telecom Italia, Italgas, STMicroelectronics, ENI, and Ferrari are up between 0.5% and 2.5%. Luxottica is down 1.8%.

08:30AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +15.90.

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

North Korea launched another intercontinental ballistic missile (ICBM) on Friday, marking its 11th ballistic missile test this year. In response, the U.S. conducted a successful test of its Alaska-based THAAD defense system and, in a show of force, sent two B1-bombers on a trip over the Korean peninsula.

Investors have not wavered amid the heightened tensions; the stock market didn't response to North Korea's launch on Friday and looks poised to open today's session in the green.

08:05AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.40. Nasdaq futures vs fair value: +15.80.

The S&P 500 futures are currently trading four points, or 0.1%, above fair value, pointing to a slightly higher open for the equity market on Monday morning.

WTI crude is under modest selling pressure in early action, dropping 0.3% to $49.58/bbl. However, despite the downtick, the commodity is still hovering near its best level in two months following last week's advance of 8.7%. A win today would mark the sixth in a row for the commodity.

U.S. Treasuries are trading relatively flat this morning with the benchmark 10-yr yield unchanged at 2.29%. Meanwhile, the U.S. Dollar Index (93.30, +0.10) is up 0.1%.

On the data front, investors will receive just two pieces of economic data--July Chicago PMI (Briefing.com consensus 60) and June Pending Home Sales (Briefing.com consensus 1.1%). The two reports will be released at 9:45 ET and 10:00 ET, respectively.

In U.S. corporate news:

Charter Communications (CHTR 401.00, +30.74): +8.3% after the company said that it is not interested in acquiring Sprint (S 8.32, 0.10).
Tesla (TSLA 339.65, +4.58): +1.4% after unveiling its much-anticipated Model 3 on Friday evening.
GoPro (GPRO 8.40, +0.30): +3.7% after the company's stock was upgraded to 'Equal-Weight' from 'Underweight' at Morgan Stanley.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mixed note. Japan's Nikkei -0.2%, Hong Kong's Hang Seng +1.3%, China's Shanghai Composite +0.6%, India's Sensex +0.6%.
In economic data:
China's July Manufacturing PMI 51.4 (expected 51.6; last 51.7) and July Non-Manufacturing PMI 54.5 (last 54.9)
Japan's June Industrial Production +1.6% month-over-month expected 1.7%; last -3.6%). June Housing Starts +1.7% year-over-year (expected -0.1%; last -0.3%) and June Construction Orders +2.3% year-over-year (last -0.5%)
Australia's June HIA New Home Sales -6.9% month-over-month (last 1.1%) and June Private Sector Credit +0.6% month-over-month (expected 0.4%; last 0.4%). MI Inflation Gauge 0.1% month-over-month (last 0.1%)
New Zealand's July ANZ Business Confidence 19.4 (last 24.8) and June Building Consents -1.0% month-over-month (last 6.9%)
Hong Kong's June M3 Money Supply +15.9% (last 15.5%)
In news:
Japan's Prime Minister Shinzo Abe and U.S. President Donald Trump held a phone conversation and agreed to take additional action against North Korea following Friday's missile launch. On a related note, South Korea and the United States conducted a joint missile drill over the weekend.
Economic data from the region showed below-consensus Manufacturing PMI from China, which stayed in expansionary territory despite missing expectations.

Major European indices trade in the green. France's CAC +0.1%, Germany's DAX +0.3%, UK's FTSE +0.3%, Italy's MIB +0.6%.
In economic data:
Eurozone July CPI +1.3% year-over-year, as expected (last 1.3%); Core CPI +1.2% year-over-year (consensus 1.1%; last 1.1%). June Unemployment Rate 9.1% (expected 9.2%; last 9.2%)
Germany's June Retail Sales +1.1% month-over-month (expected 0.2%; last 0.5%); +1.5% year-over-year (consensus 2.7%; previous 4.9%)
UK's June Mortgage Approvals 64,680 (expected 65,000; last 65,110) and June Mortgage Lending GBP4.10 billion (expected GBP3.40 billion; last GBP3.90 billion)
Italy's June Unemployment Rate 11.1% (expected 11.3%; last 11.3%). July CPI +0.1% month-over-month, as expected (last -0.1%); +1.1% year-over-year, as expected (last 1.2%). June PPI +0.4% month-over-month (last -0.3%); +3.1% year-over-year (last 2.8%)
Spain's May Current Account surplus expanded to EUR2.57 billion from EUR450 million
In news:
European Central Bank member Sabine Lautenschlaeger said it is important to prepare for a withdrawal of monetary stimulus and that the unwind of asset purchases will be a lengthy process.
Fitch affirmed France's 'AA' rating with a Stable outlook.

05:53AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.10. Nasdaq futures vs fair value: +14.00.
05:53AM ET

[BRIEFING.COM] Nikkei

...19928...-34.70

...-0.20%

Hang Seng

...27324...+344.60

...+1.30%

05:53AM ET

[BRIEFING.COM] FTSE

...7411.81...+43.40

...+0.60%

DAX

...12185...+22.30

...+0.20%

04:25PM ET

[BRIEFING.COM] Equity indices finished Friday's session mixed; the Dow (+0.2%) advanced to a new record high for the third day in a row while the S&P 500 (-0.1%) and the Nasdaq (-0.1%) settled a tick below their unchanged marks. All three major averages finished near their best marks of the day. For the week, the S&P 500 finished flat.

The Nasdaq opened Friday's session with a sizable loss of 0.7% after one of its most influential components--Amazon (AMZN 1020.04, -25.96)--missed earnings expectations. The online retailer was down as much as 4.3% in early action, but, like the Nasdaq, the company was able to trim its loss a bit, eventually settling lower by 2.5%.

Amazon's negative performance took a toll on the consumer discretionary sector (-0.7%), which finished near the bottom of the day's leaderboard. In addition, coffee giant Starbucks (SBUX 54.00, -5.50) weighed on the consumer discretionary space--plunging 9.2% to its lowest level in six months--after the company missed top-line estimates and issued disappointing guidance.

The consumer staples sector (-0.9%) finished at the very bottom of the sector standings with tobacco giant Altria (MO 66.94, -7.02) leading the retreat. MO shares sold off sharply after the U.S. Food and Drug Administration announced a plan to reduce nicotine levels in cigarettes. Altria reclaimed a chunk of its initial decline, but still ended the day with a solid loss of 9.5%.

Meanwhile, the energy sector (-0.2%) settled roughly in line with the broader market despite a solid performance from crude oil, which climbed 1.4% to $49.74/bbl. For the week, WTI crude advanced 8.7%, which marks its biggest one-week rally of the year.

Within the energy sector, Dow components Exxon Mobil (XOM 79.60, -1.23) and Chevron (CVX 108.12, +2.01) saw a mixed response to their latest earnings reports; CVX jumped 1.9% after reporting better than expected revenues while XOM dropped 1.5% after missing earnings expectations.

The top-weighted technology sector (-0.1%) also finished roughly in line with the broader market. Intel (INTC 35.31, +0.34) advanced 1.0% after beating both top and bottom line estimates and issuing upbeat guidance. However, the PHLX Semiconductor Index dropped 0.4% despite Intel's positive performance.

In total, eight of the eleven sectors finished in the red with losses ranging from 0.1% to 0.9%. The health care (+0.5%), financials (unch), and industrials (+0.2%) spaces were the three advancers.

Merck (MRK 64.11, +0.42) helped the health care sector finish at the top of the leaderboard after the company reported better than expected earnings and revenues; MRK shares settled higher by 0.7%. It's also worth noting that the Senate failed to pass a 'skinny' repeal of the Affordable Care Act in a tight 49-51 vote.

As for industrials, transports bounced back on Friday after sending the Dow Jones Transportation Average on a 3.1% plunge in the prior session. The DJTA finished Friday higher by 0.4%.

It's also worth noting that North Korea launched another intercontinental ballistic missile (ICBM) on Friday, marking Pyongyang's 11th ballistic missile test this year. Stocks did not react to the news.

Outside of the stock market, Treasuries rallied in a curve-flattening trade, leaving the 2-yr yield (1.36%) and the 10-yr yield (2.29%) lower by one basis point and three basis points, respectively. Meanwhile, the U.S. Dollar Index (93.15, -0.62) dropped 0.7% to a fresh 15-month low.

Reviewing Friday's economic data, which included the advance estimate for second quarter GDP, the second quarter Employment Cost Index, and the final reading of the University of Michigan Consumer Sentiment Index for July:

Advance second quarter GDP pointed to an expansion of 2.6%, while the Briefing.com consensus expected a reading of 2.8%. The second quarter GDP Deflator came in at 1.0%, which is below the Briefing.com consensus of 1.3%.
The key takeaway from the Q2 GDP report, then, is that the average for the first half of 2017 was subpar at 1.9%, which should continue to keep any concerns about the prospect of a near-term rate hike from the Fed under wraps.
The second quarter Employment Cost Index rose 0.5%, while the Briefing.com consensus expected an increase of 0.6%.
The key takeaway from the report is that there was a moderation in year-over-year growth rates for wages and salaries, reflecting the lack of wage-based inflation pressure that has helped keep consumer spending activity modest and overall inflation low.
The final reading of the University of Michigan Consumer Sentiment Index for July rose to 93.4 (Briefing.com consensus 93.1) from 93.1 in the preliminary reading.
Despite the small decline, the key takeaway from the report is the indication that the Sentiment Index is still higher in the first seven months of 2017 than in any other year since 2004.

On Monday, investors will receive just two pieces of economic data--July Chicago PMI (Briefing.com consensus 60) and June Pending Home Sales (Briefing.com consensus 1.1%). The two reports will be released at 9:45 ET and 10:00 ET, respectively.

Nasdaq Composite +18.4% YTD
S&P 500 +10.4% YTD
Dow Jones Industrial Average +10.5% YTD
Russell 2000 +5.3% YTD

Week In Review: Up to the Ears in Earnings

Investors had a massive pile of earnings reports to work through this week. The results were generally positive, but equities still sold off in some instances as many companies rallied for several weeks in front of their reports, pricing in much of the good news beforehand. The S&P 500 finished the week just a tick below its flat line, the Nasdaq dropped 0.2%, and the Dow outperformed, climbing 1.2%.

The stock market began the week with a rather range-bound performance on Monday as small victories from the top-weighted technology and financials sectors roughly canceled out losses from the nine remaining groups. Alphabet (GOOGL) helped carry the tech space, muscling one more win ahead of its earnings report, which crossed the wires on Monday evening.

Alphabet reported better than expected earnings and revenues, but slid 2.9% on Tuesday nonetheless. In general, earnings continued to eclipse expectations on Tuesday with Caterpillar (CAT), McDonald's (MCD), DuPont (DD), and United Technologies (UTX) all beating earnings per share estimates. The positive results helped push the S&P 500 and the Nasdaq to modest victories and new record highs.

The Dow joined the record-high club in the midweek session, outpacing its peers on the back of Boeing (BA). The airplane maker surged 9.9% after reporting better than expected earnings and raising its earnings guidance for the fiscal year. Wireless giant AT&T (T) also moved solidly higher, adding 5.0%, following its latest quarterly report, which showed above-consensus earnings.

Investors took a break, albeit a short one, from earnings season on Wednesday afternoon when the Fed released its latest policy directive. However, the release largely turned out to be a nonevent. The FOMC decided to keep the fed funds target range at 1.00%-1.25%, as expected, and noted that it expects to begin paring its balance sheet "relatively soon", which was interpreted by many to mean September.

Earnings came back into focus on Thursday with Facebook (FB) headlining the lineup. The social media giant jumped to a new record high after reporting better than expected earnings and revenues, however, the company gave back a good portion of said advance as tech stocks began to sell off in the afternoon, pushing the technology sector to the bottom of the leaderboard.

Transports struggled mightily on Thursday, sending the Dow Jones Transportation Average lower by 3.1%. The DJTA's weakness was broad, but UPS (UPS) and Southwest Airlines (LUV) exhibited particular weakness despite beating earnings estimates. However, on a positive note, Verizon (VZ) surged 7.7% on better than expected revenues. Equity indices settled mixed with the S&P 500 losing 0.1%.

Moving into Friday's session, investor sentiment was down mildly after Amazon (AMZN) reported worse than expected earnings on Thursday evening. The e-commerce giant dropped 2.5%, but the broader market held up relatively well with the Dow settling at another record high, its third in a row. Also of note, the advance estimate of Q2 GDP came in slightly below expectations (2.6% actual vs 2.8% Briefing.com consensus).

Following this week's policy directive, the fed funds futures market now points to the January FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 50.8%. At this time last week, investors were anticipating the next rate hike to occur in December.

Dow: +33.76… | Nasdaq: -7.51… | S&P: -3.32…

NASDAQ Adv/Dec 1352/1439. …NYSE Adv/Dec 1573/1336.

Image Price Action Trading @ http://www.thestrategylab.com/price-action-trading.htm

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)
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