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 Post subject: August 2nd Wednesday Trade Results - Profits $1987.50
PostPosted: Wed Aug 02, 2017 7:20 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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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 @ $1987.50 dollars or +39.75 points, Light Crude Oil CL ($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 @ $1987.50 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=170&t=2614

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=327&t=3486 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: +52.32… | Nasdaq: -0.29… | S&P: +1.22…
NASDAQ Vol: 2.1 bln… Adv: 876… Dec: 1896…
NYSE Vol: 833.1 mln… Adv: 1162… Dec: 1749…

Moving the Market

Apple (AAPL) retraces a good portion of its post-earnings gain

July ADP Employment Change misses estimates (178K actual vs 187K consensus)

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

[BRIEFING.COM] The stock market spent much of Wednesday's session in negative territory as weakness in the broader market outweighed Apple's (AAPL 157.14, +7.09) post-earnings report rally. However, the S&P 500 (+0.1%) managed to sneak into positive territory in the final minutes to eke out its second win of the week. The Nasdaq (unch) finished just short of its unchanged mark while the Dow (+0.2%) outperformed, cruising to its sixth-consecutive record close.

Apple advanced to a new record high on Wednesday after beating both top and bottom line estimates. The tech titan also issued encouraging guidance, suggesting that its much-anticipated iPhone 8 release is on schedule. AAPL shares settled higher by 4.7% and were largely the reason that the top-weighted technology group (+0.5%), and the broader market, finished in positive territory.

In total, five of the eleven sectors--technology (+0.5%), utilities (+0.5%), industrials (+0.4%), financials (+0.1%), and materials (+0.1%)--finished Wednesday's session in the green. Southern (SO 49.78, +1.25) carried the utilities space to its third-consecutive victory, rallying 2.6% on better than expected earnings and revenues.

Meanwhile, in the industrial sector, transports got their first win of the week, sending the Dow Jones Transportation Average higher by 0.3%. The sector's top performer was Ametek (AME 64.23, +2.61), which climbed 4.2% to a new all-time high after beating both top and bottom line estimates and raising its earnings guidance for the year.

On the downside, the telecom services space (-1.3%) finished at the bottom of the leaderboard as investors took some money off the table following the sector's six-session rally. Despite today's slide, the telecom services sector sits 7.1% above where is settled on July 25. The real estate space (-0.5%) also showed notable weakness, but the remaining laggards finished with losses of no more than 0.3%.

Pioneer Natural Resources (PXD 145.68, -17.59) led the energy sector (-0.3%) lower, plunging 10.8%, after lowering its forecast for production growth. PXD shares settled at a 15-month low.

However, a positive performance from crude oil, which climbed 0.9% to $49.61/bbl, helped keep the energy sector's loss in check. The commodity held a loss of around 1.0% on Wednesday morning, but moved sharply higher not long after the Energy Information Administration released its weekly crude inventory report.

The EIA report showed that U.S. crude inventories declined by 1.5 million barrels for the week ended July 28. The reading was slightly below the consensus, which called for a draw of 3.1 million barrels.

Small caps finished solidly lower on Wednesday, pushing the Russell 2000 lower by 1.1%. The small-cap index closed right at its 50-day simple moving average (1,413.93), which has acted as an area of support since June 1.

In the bond market, U.S. Treasuries settled mixed; the 2-yr yield jumped two basis points to 1.36%, the 10-yr yield climbed one basis point to 2.26%, and the 30-yr yield slipped one basis point to 2.85%.

Reviewing Wednesday's economic data, which was limited to the ADP Employment Change Report for July and the weekly MBA Mortgage Applications Index:

The ADP National Employment Report showed an increase of 178,000 in July (Briefing.com consensus 187,000) while the June reading was revised higher to 191,000 from 158,000.
The weekly MBA Mortgage Applications Index decreased 2.8% to follow last week's 0.4% increase.

On Thursday, investors will receive several economic reports, including the weekly Initial Claims Report (Briefing.com consensus 242K) at 8:30 ET, June Factory Orders (Briefing.com consensus 2.9%) at 10:00 ET, and the July ISM Services Index (Briefing.com consensus 56.9) also at 10:00 ET.

Nasdaq Composite +18.2% YTD
S&P 500 +10.7 YTD
Dow Jones Industrial Average +11.4% YTD
Russell 2000 +4.1% YTD

Dow: +52.32… | Nasdaq: -0.29… | S&P: +1.22…

NASDAQ Adv/Dec 876/1896. …NYSE Adv/Dec 1162/1749.

03:00PM ET

[BRIEFING.COM] The S&P 500 (unch) and the Nasdaq (unch) hover at their flat lines moving into the final stretch. Meanwhile, the Dow (+0.2%) is on track to close at a new record high for the sixth session in a row.

Seven of the eleven sectors currently trade in negative territory. The telecom services space (-1.7%) is by far the weakest group as investors engage in some profit taking on the heels of a six-session rally; the telecom services group climbed 8.5% from July 26 to yesterday's closing bell. The real estate space (-0.7%) also shows relative weakness, but the remaining laggards hold losses of no more than 0.4%.

The four advancing sectors are technology (+0.5%), industrials (+0.4%), utilities (+0.2%), and materials (+0.1%)--all four of which also trade in positive territory for the week with week-to-date gains ranging between 0.1% and 1.1%. However, the week's top performer is the financial sector, which holds a week-to-date advance of 1.3%.

Dow: +42.52… | Nasdaq: +3.59… | S&P: -0.24…

NASDAQ Adv/Dec 943/1850. …NYSE Adv/Dec 1145/1763.

02:55PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.47% at 83.9283.
Dollar index is currently down 0.23% at 92.83.
Sept WTI crude saw a sharp sell-off immediately following the release of EIA inventory data, but rebounded to settle higher on the session.
Futures settled $0.42 higher to $49.61/barrel.
In other energy, Sept natural gas setttled down $0.01 at $2.81/MMBtu
Metals underperformed...
Dec gold lost $1.30 to settle at $1278.20/oz, while September silver dropped $0.03 to $16.74/oz
September copper settled flat at $2.88/lb
Finally, agriculture:
September corn settled $0.01 higher at $3.64/bu.
November soy settled $0.06 higher at $9.76/bu.
September wheat settled flat at $4.61/bu.

Dow: +46.33… | Nasdaq: -0.24… | S&P: -0.61…

NASDAQ Adv/Dec 938/1864. …NYSE Adv/Dec 1155/1754.

02:30PM ET

[BRIEFING.COM] The major averages haven't budged since the last update.

Tech stocks have been picking up strength as of late, sending the top-weighted technology sector (+0.4%) to its best mark of the afternoon. Apple (AAPL 157.85, +7.79) is still trading solidly higher, up 5.2%, following its latest earnings report. The positive sentiment has also spread to Apple suppliers like Broadcom (AVGO 254.79, +6.40) and Micron (MU 28.78, +0.44), which have added 2.5% and 1.5%, respectively.

In the bond market, U.S. Treasuries have ticked down from their flat lines this afternoon and flattened the yield curve a bit. The 10-yr yield is up one basis point at 2.26% while the 2-yr yield has climbed two basis points to 1.36%.

Dow: +42.79… | Nasdaq: -4.69… | S&P: -1.63…

02:00PM ET

[BRIEFING.COM] Equity indices are still trading mixed with the S&P 500 showing a slim loss of 0.1%.

Retailers have struggled today, pushing the SPDR S&P Retail ETF (XRT 40.77, -0.53) lower by 1.3%. L Brands (LB 44.70, -1.57), Gap (GPS 23.47, -0.43), and Urban Outfitters (URBN 19.08, -0.50) are among the consumer discretionary sector's (-0.4%) weakest components, showing losses between 1.8% and 3.3%.

Elsewhere in the consumer discretionary space, Dow component McDonald's (MCD 156.34, +2.30) is higher by 1.5%, looking to break its three-session losing streak. Today's rally extends MCD's year-to-date advance to 28.4%.

Dow: +40.57… | Nasdaq: -4.28… | S&P: -1.77…

NASDAQ Adv/Dec 844/1955. …NYSE Adv/Dec 1102/1770.

01:35PM ET

[BRIEFING.COM] The major U.S. indices remain mixed as this time as strong earnings from component Apple helped push the Dow above 22k earlier for the first time ever.

A look inside the Dow Jones Industrial Average shows that Apple (AAPL 156.92, +6.87), McDonald's (MCD 155.92, +1.88), & 3M (MMM 204.96, +1.78) are outperforming. Apple shares have spiked to fresh all-time highs after reporting better than expected fiscal third quarter results and offering upside fourth quarter guidance.

Conversely, Walt Disney (DIS 107.61, -3.00) is the worst-performing Dow component as consumer discretionary names lag in today's session.

For the week, the DJIA is currently up 0.75%

Dow: +28.35… | Nasdaq: -24.15… | S&P: -4.51…

NASDAQ Adv/Dec 771/2043. …NYSE Adv/Dec 1081/1784.

01:05PM ET

[BRIEFING.COM] The major averages are mixed at midday with the Dow holding a small gain of 0.1% while the Nasdaq and the S&P 500 show losses of 0.5% and 0.3%, respectively. All three major indices opened Wednesday's session with modest gains, rallying around Apple's (AAPL 157.50, +7.45) latest earnings report, but soon dropped lower amid weakness in the broader market.

Apple has trimmed its opening gain of 6.5% to 5.0%, but its advance has still been enough to roughly balance losses from nearly every other component in the top-weighted technology sector (unch). The tech giant beat both top and bottom line estimates and issued encouraging guidance that suggests the fall iPhone 8 launch is on track.

Like technology, the industrials (unch), consumer staples (unch), and utilities (+0.4%) spaces have managed to keep ahead of the broader market. The utilities sector is the top performer, underpinned by Southern (SO 49.92, +1.39), which has climbed 2.9% after reporting better than expected earnings and revenues.

Within the consumer staples space, General Mills (GIS 56.50, +1.30) exhibits relative strength, climbing 2.4% to its best level in a month. All of General Mills' advance came within the last hour of trading amid renewed M&A speculation.

As for industrials, Ametek (AME 63.41, +1.79) is the top performer, jumping 2.9%, in reaction to its better than expected earnings and revenues. In addition, the company raised its earnings guidance for the fiscal year. Transports also outperform, keeping the Dow Jones Transportation Average (-0.1%) near its unchanged mark.

Crude oil is trading higher by 0.4% at a price of $49.36/bbl following this morning's EIA crude inventory report, which showed that U.S. stockpiles dropped by 1.5 million barrels for the week ended July 28. The reading was somewhat of a disappointment as the consensus called for a draw of around 3.1 million barrels. The commodity initially sold off after the EIA reading, trading as low as -0.9%.

However, despite crude oil's uptick, the energy sector trades behind the broader market. In total, eight of the eleven sectors trade in the red with losses ranging from 0.1% to 1.1%.

The lightly-weighted telecom services sector (-1.1%) is the weakest group, giving back a relatively small portion of its six-session rally, but the remaining sectors hold losses of no more than 0.7%.

Also of note, small caps are exhibiting relative weakness, pushing the small-cap Russell 2000 lower by 1.3%.

In the bond market, U.S. Treasuries are trading relatively flat with the benchmark 10-yr yield unchanged at 2.25%. Treasuries saw a little volatility following this morning's ADP National Employment Report, which came in short of expectations.

Reviewing Wednesday's economic data, which was limited to the ADP Employment Change Report for July and the weekly MBA Mortgage Applications Index:

The ADP National Employment Report showed an increase of 178,000 in July (Briefing.com consensus 187,000) while the June reading was revised higher to 191,000 from 158,000.
The weekly MBA Mortgage Applications Index decreased 2.8% to follow last week's 0.4% increase.

Dow: +13.29… | Nasdaq: -31.73… | S&P: -6.63…

NASDAQ Adv/Dec 742/2060. …NYSE Adv/Dec 1030/1842.

12:25PM ET

[BRIEFING.COM] Equities have ticked down slightly in recent action, extending the S&P 500's loss to 0.3%.

The top-weighted technology sector holds a small gain of 0.1% despite nearly all of its components trading in negative territory. Apple (AAPL 157.84, +7.78) has kept the tech group afloat, jumping 5.2%, following last night's upbeat earnings report. The company beat both top and bottom line estimates and issued encouraging guidance that suggests the fall iPhone 8 launch is on track.

At the opposite end of the leaderboard, the telecom services space (-1.0%) is trading comfortably behind its peers. The group has suffered at the hand of its most influential components--Verizon (VZ 48.37, -0.52) and AT&T (T 38.44, -0.45)--with the two names showing losses of around 1.1% apiece.

Dow: +19.40… | Nasdaq: -27.45… | S&P: -6.11…

NASDAQ Adv/Dec 706/2105. …NYSE Adv/Dec 989/1870.

12:05PM ET

[BRIEFING.COM] Equity indices continue to trade mixed moving into the afternoon session; the Dow is up 0.2% while the Nasdaq and the S&P 500 show losses of 0.4% and 0.2%, respectively. Meanwhile, the small-cap Russell 2000 has dropped 1.1%.

Crude oil has returned to positive territory in recent action and currently trades higher by 0.6% at $49.46/bbl. The commodity slipped to a fresh session low earlier this morning, holding a loss of around 0.9%, following a somewhat disappointing EIA inventory report (-1.5 million barrels actual vs -3.1 million barrels consensus). The energy sector (-0.5%) has also moved higher, cutting its loss in half.

In the bond market, Treasuries are trading flat with the benchmark 10-yr yield unchanged at 2.25%. Meanwhile, the U.S. Dollar Index (92.66, -0.26) is down 0.3%.

Dow: +34.79… | Nasdaq: -29.62… | S&P: -5.67…

NASDAQ Adv/Dec 727/2059. …NYSE Adv/Dec 1027/1812.

11:25AM ET

[BRIEFING.COM] The major averages continue trending sideways, just a tick above their session lows. The S&P 500 shows a loss of 0.2%.

Utility giant Southern (SO 49.71, +1.18) has climbed 2.4% in today's session after beating both top and bottom line estimates earlier this morning. The positive performance places the company above its 50-day simple moving average (49.20) for the first time since late June and has helped push the utilities sector (+0.2%) to the top of today's sector standings.

The industrial sector (+0.1%) is the only other space currently trading in positive territory. Transports show relative strength, keeping the Dow Jones Transportation Average (-0.1%) near its unchanged mark.

Dow: +37.63… | Nasdaq: -28.97… | S&P: -5.40…

NASDAQ Adv/Dec 688/2060. …NYSE Adv/Dec 987/1815.

10:55AM ET

[BRIEFING.COM] The tech-heavy Nasdaq (-0.5%) has slipped into negative territory this morning after Apple (AAPL 157.35, +7.29) retraced a good portion of its initial post-earnings gain. AAPL shares are currently up 4.8%, but held a gain of around 6.5% at the opening bell. The S&P 500 is lower by 0.3% while the Dow holds a small gain of 0.1%, largely thanks to Apple.

Crude oil dropped a bit following this morning's EIA crude inventory report, which showed that crude inventories dropped by 1.5 million barrels for the week ended July 28. The reading was somewhat of a disappointment as the consensus called for a draw of around 3.1 million barrels. The WTI crude futures currently trade lower by 0.8% at a price of $48.79/bbl.

The energy sector (-0.9%), which often moves in tandem with the price of crude oil, dropped to the bottom of the sector standings following the EIA release. In total, nine of the eleven sectors currently trade in the red with the utilities (+0.1%) and industrials (unch) spaces being the two advancers.

Dow: +20.25… | Nasdaq: -33.09… | S&P: -7.55…

NASDAQ Adv/Dec 607/2111. …NYSE Adv/Dec 872/1925.

10:40AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently flat at 83.5269.
Dollar index is currently down 0.21% at 92.85.
Looking at energy...
Oil prices fell sharply following EIA inventory data, which showed a draw of 1.5 mln barrels vs. 7.2 mln barrels last week.
Sept WTI crude oil futures are now down $0.38 at $48.78/barrel
In other energy,
Sept natural gas is down $0.001 at $2.818/MMBtu
Moving on to metals...
Dec gold is down $3.50 at $1275.90/oz, while Sept silver is down $0.104 at $16.66/oz
Sept copper is down $0.0045 at $2.8765/lb
Finally, agriculture:
September corn is higher $0.035 at $3.80/bu.
November soy is up $0.035 at $9.7525/bu.
September wheat is up $0.015 at $4.6275/bu.

Dow: +32.94… | Nasdaq: -22.24… | S&P: -6.09…

NASDAQ Adv/Dec 667/2052. …NYSE Adv/Dec 895/1873.

09:55AM ET

[BRIEFING.COM] After all three opened in the green, the major averages now trade mixed with the S&P 500 (-0.1%) being the lone laggard.

The industrial sector (+0.2%) is outperforming in early action amid broad strength. Ametek (AME 64.37, +2.75) is the sector's top performer, adding 4.4% in reaction to its better than expected earnings and revenues. In addition, the company raised its earnings guidance for the fiscal year. Today's jump places AME at a fresh all-time high.

In the bond market, U.S. Treasuries have been climbing as of late, reclaiming their modest early-morning declines. The benchmark 10-yr yield currently trades flat at 2.25%.

Dow: +40.42… | Nasdaq: +10.45… | S&P: -1.02…

NASDAQ Adv/Dec 998/1583. …NYSE Adv/Dec 1116/1512.

09:45AM ET

[BRIEFING.COM] The Nasdaq leads out of the gate, opening higher by 0.3%. The Dow and the S&P 500 sport gains of 0.2% and 0.1%, respectively.

Nearly all sectors are hovering in negative territory this morning, but the top-weighted technology space is trading solidly higher, up 1.0%, thanks to Apple's (AAPL 159.43, +9.43) big gain of 6.3%. AAPL shares are hovering at a new all-time high after the tech titan beat top and bottom line estimates.

On the flip side, the energy sector (-0.7%) currently holds the widest decline. Countercyclical spaces like consumer staples (-0.4%), utilities (-0.4%), and telecom services (-0.5%) also exhibit relative weakness.

Dow: +62.29… | Nasdaq: +18.61… | S&P: +0.75…

NASDAQ Adv/Dec 1199/1326. …NYSE Adv/Dec 1176/1391.

09:15AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +40.90.

Investors have rallied around Apple's (AAPL 159.55, +9.50) latest earnings report, pushing the tech-heavy Nasdaq futures 41 points, or 0.8%, above fair value. Meanwhile, the S&P 500 futures are trading relatively flat, hovering just two points above fair value.

Apple is up 6.3% in pre-market action after the company beat both top and bottom line estimates and issued encouraging guidance that suggests the fall iPhone 8 launch is on track. Barring a sharp shift in sentiment, the tech titan will open Wednesday's session at a new all-time high.

The ADP National Employment Report for July came in below expectations, showing an increase of 178,000 (Briefing.com consensus 187,000). Today's ADP reading precedes Friday's more influential Employment Situation Report for July, which the Briefing.com consensus expects will show the addition of 181,000 nonfarm payrolls.

U.S. Treasuries didn't respond much to the ADP reading and continue to trade modestly lower, giving back a portion of yesterday's rally. The benchmark 10-yr yield is up one basis point at 2.27%.

Crude oil is trading slightly higher, up 0.2% at $49.26/bbl, despite a disappointing API inventory report, which crossed the wires on Tuesday afternoon. The American Petroleum Institute reported a build of 1.8 million barrels while the consensus called for a draw of 2.9 million barrels.

The Department of Energy will release its weekly inventory figures, which often conflict with the API reading, at 10:30 ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +37.10.

The S&P 500 futures trade one point above fair value.

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note. Technology stocks had a good showing after Apple (AAPL) reported better than expected results for the third quarter. Reports out of Washington indicate the Trump administration has opened a broad inquiry into China's trade practices, focusing on treatment of theft of intellectual property. The People's Bank of China will reportedly use a wider array of instruments to maintain liquidity in August. Bank of Japan member Yukitoshi Funo said that current price momentum is insufficient to achieve the 2.0% CPI target. The Reserve Bank of India lowered its repurchase rate by 25 basis points to 6.00%, as expected.

In economic data:
Japan's July Household Confidence 43.8 (expected 43.6; last 43.3) and Monetary Base +15.6% year-over-year (expected 16.6%; last 17.0%)
Hong Kong's June Retail Sales +0.1% year-over-year (last 0.5%)
Australia's June Building Approvals +10.9% month-over-month (expected 1.5%; last -5.4%) and June Private House Approvals +3.4% (last 1.3%)
New Zealand's Q2 Employment Change -0.2% quarter-over-quarter (expected 0.7%; last 1.2%). Q2 Participation Rate 70.00% (expected 70.7%; last 70.6%) and Q2 Employment Change -0.2% quarter-over-quarter (expected 0.7%; last 1.2%). Q2 Unemployment Rate 4.8%, as expected (last 4.9%)

---Equity Markets---

Japan's Nikkei gained 0.5%, but ended off its high. JFE Holdings, Okuma, Nippon Electric Glass, Showa Denko, Yaskawa Electric, Alps Electric, TDK, and Tokyo Electron gained between 2.6% and 5.9%.
Hong Kong's Hang Seng inched closer to its high from 2015, adding 0.2%. Property names were among the leaders with Wharf Holdings, Hang Lung Properties, China Overseas, New World Development, Cheung Kong Properties, Henderson Land, SHK Properties, and Sino Land rising between 0.3% and 5.8%. Apple supplier AAC Technologies jumped 4.8%.
China's Shanghai Composite slid into the close, shedding 0.2%. Datang Telecom Technology, Shengyi Technology, Beijing Aerospace Changfeng, and BEIH Property lost between 4.4% and 6.4%.
India's Sensex slipped 0.3% amid losses in more than half of its components. Drug makers Sun Pharma and Dr. Reddy's Labs both lost near 1.9% while Tata Consultancy and Infosys surrendered 1.3% apiece. Another tech consultant, Wipro, shed 0.1%. HDFC Bank and AXIS Bank settled flat while ICICI Bank slipped 0.2%.

Major European indices trade on a lower note, but losses have been limited through the first half of action. The UK's FTSE (-0.4%) is among the laggards even though Moody's raised its outlook on the UK banking sector to 'Stable' from 'Negative' due to increased resilience.

In economic data:
Eurozone June PPI -0.1% month-over-month, as expected (last -0.3%); +2.5% year-over-year (consensus 2.4%; last 3.4%)
Spain's Unemployment Change -26,900 (expected -66,500; last -98,300)
Swiss July Retail Sales +1.5% year-over-year (expected 1.3%; last -0.8%) and July SVME PMI 60.9 (expected 58.9; last 60.1). Q3 SECO Consumer Climate -3, as expected (last -8)

---Equity Markets---

France's CAC is lower by 0.1% with Societe Generale falling 4.2% in reaction to disappointing results. BNP Paribas and Credit Agricole are both down near 0.3% apiece while AXA trades higher by 1.0%. ArcelorMittal, TechnipFMC, and Vinci show losses between 0.8% and 2.4% while Peugeot and Renault are down 1.1% and 0.7%, respectively. Accor outperforms, rising 2.3%.
Germany's DAX has shed 0.2%. HeidelbergCement is the weakest performer, falling 3.4%. Automakers BMW, Volkswagen, and Daimler show losses between 0.3% and 0.9% while financials also trade in negative territory. Commerzbank is down 1.7% and Deutsche Bank has given up 0.2%. On the upside, Lufthansa has spiked 1.4% in reaction to earnings.
UK's FTSE is down 0.4% with Standard Chartered sliding 4.7% in reaction to its quarterly results. RSA Insurance, Lloyds Banking, Prudential, and HSBC have dropped between 0.3% and 2.4%.

08:25AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +40.10.

The S&P 500 futures trade one point above fair value.

Released not long ago, the ADP National Employment Report showed an increase of 178,000 in July (Briefing.com consensus 187,000) while the June reading was revised higher to 191,000 from 158,000.

08:06AM ET

[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +34.90.

Nasdaq futures are trading solidly above fair value this morning, up 35 points or 0.7%, following Apple's (AAPL 158.58, +8.53) upbeat earnings report, which was released following yesterday's closing bell. Meanwhile, the S&P 500 futures trade flat, in line with fair value.

Apple is trading higher by 5.7% in pre-market action after the tech titan beat both top and bottom line estimates. iPhone sales--the company's biggest source of revenue--met expectations and it appears that the much-anticipated iPhone 8 is still on track to launch this year. Apple looks poised to open Wednesday at a fresh all-time high, further extending its already massive year-to-date advance of 29.6%.

The ADP National Employment Report for July (Briefing.com consensus 187K), which precedes Friday's more influential Employment Situation Report for July (Briefing.com consensus 181K), will cross the wires at 8:15 ET this morning. Investors will take the ADP reading with a grain of salt as it has deviated sharply from the official government reading in the past.

Today's only other economic report--the weekly MBA Mortgage Applications Index--crossed the wires earlier this morning, showing a decrease of 2.8% to follow last week's 0.4% increase.

Crude oil is hovering just a tick below its unchanged mark, down 0.1% at $49.09/bbl, after the American Petroleum Institute (API) reported a build of 1.8 million barrels on Tuesday evening. The reading was a disappointment as the consensus called for a draw of 2.9 million barrels. The Department of Energy will release its weekly inventory figures, which often conflict with the API reading, at 10:30 ET.

U.S. Treasuries have given back a portion of yesterday's sizable advance this morning while the U.S. Dollar Index (92.87, -0.04) trades flat, hovering near a 15-month low. The benchmark 10-yr yield is up two basis points at 2.27%.

In U.S. corporate news:

Apple (AAPL 158.58, +8.53): +5.7% after beating top and bottom line estimates.
Time Warner (TWX 103.68, +1.26): +1.2% after reporting better than expected earnings.
Mondelez (MDLZ 44.70, +1.08): +2.5% after beating bottom-line estimates.
Pioneer Natural Resources (PXD 149.98, -13.29): -8.1% after lowering its forecast for production growth. On a positive note, PXD beat top and bottom line estimates.
Illumina (ILMN 189.79, +17.49): +10.2% after reporting better than expected earnings and revenues and raising its revenue guidance for the fiscal year.

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 +0.2%, China's Shanghai Composite -0.2%, India's Sensex -0.3%.
In economic data:
Japan's July Household Confidence 43.8 (expected 43.6; last 43.3) and Monetary Base +15.6% year-over-year (expected 16.6%; last 17.0%)
Hong Kong's June Retail Sales +0.1% year-over-year (last 0.5%)
Australia's June Building Approvals +10.9% month-over-month (expected 1.5%; last -5.4%) and June Private House Approvals +3.4% (last 1.3%)
New Zealand's Q2 Employment Change -0.2% quarter-over-quarter (expected 0.7%; last 1.2%). Q2 Participation Rate 70.00% (expected 70.7%; last 70.6%) and Q2 Employment Change -0.2% quarter-over-quarter (expected 0.7%; last 1.2%). Q2 Unemployment Rate 4.8%, as expected (last 4.9%)
In news:
Technology stocks had a good showing after Apple (AAPL) reported better than expected results for the third quarter.
Reports out of Washington indicate the Trump administration has opened a broad inquiry into China's trade practices, focusing on treatment of theft of intellectual property.
The People's Bank of China will reportedly use a wider array of instruments to maintain liquidity in August.
Bank of Japan member Yukitoshi Funo said that current price momentum is insufficient to achieve the 2.0% CPI target.
The Reserve Bank of India lowered its repurchase rate by 25 basis points to 6.00%, as expected.

Major European indices trade on a lower note, but losses have been limited through the first half of action. France's CAC -0.1%, Germany's DAX -0.2%, UK's FTSE -0.3%.
In economic data:
Eurozone June PPI -0.1% month-over-month, as expected (last -0.3%); +2.5% year-over-year (consensus 2.4%; last 3.4%)
Spain's Unemployment Change -26,900 (expected -66,500; last -98,300)
Swiss July Retail Sales +1.5% year-over-year (expected 1.3%; last -0.8%) and July SVME PMI 60.9 (expected 58.9; last 60.1). Q3 SECO Consumer Climate -3, as expected (last -8)
In news:
Moody's raised its outlook on the UK banking sector to 'Stable' from 'Negative' due to increased resilience.

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +42.90.
05:52AM ET

[BRIEFING.COM] Nikkei

...20080...+94.30

...+0.50%

Hang Seng

...27607...+67.20

...+0.20%

05:52AM ET

[BRIEFING.COM] FTSE

...7394.72...-28.90

...-0.40%

DAX

...12228.23...-23.10

...-0.20%

04:30PM ET

[BRIEFING.COM] The equity market registered a modest win on Tuesday as the Dow Jones Industrial Average (+0.3%) climbed to another record close, its fifth in a row. Trading was fairly tight, leaving the S&P 500 (+0.2%) within a seven-point range from start to finish. The Nasdaq (+0.2%) also finished in the green, but stopped short of reclaiming all of Monday's decline.

Eight of eleven sectors managed to settle in positive territory. The top-weighted financials (+0.8%) and technology (+0.5%) spaces exhibited relative strength with financials extending its week-to-date advance to 1.4%. The technology sector's most influential component--Apple (AAPL 150.05, +1.32)--moved sharply higher in the final minutes, adding 0.9%, ahead of its afternoon earnings release.

Sprint (S 8.87, +0.89) led the telecom services space (+0.3%) to another win, its fifth in six sessions, after beating bottom-line estimates and raising its profit guidance. It's also worth noting that the company believes an M&A announcement will come "in the near future." S shares settled higher by 11.2%.

American automakers tumbled on Tuesday following some disappointing sales figures for the month of July. General Motors (GM 34.76, -1.22) dropped 3.4% after reporting a 15.0% year-over-year decline in total U.S. sales. Meanwhile, Ford Motor (F 10.95, -0.27) slipped 2.4% after reporting a year-over-year decline of 7.5%.

The U.S. auto market has struggled so far in 2017 following seven straight years of growth. Today's slide leaves Ford shares and GM shares with year-to-date losses of 9.7% and 0.2%, respectively.

Still, despite automakers' tumble, the consumer discretionary space (+0.2%) settled in line with the broader market. Under Armour (UAA 18.30, -1.72) was the sector's weakest component, dropping 8.6% to its lowest level in nearly four years, after announcing a restructuring plan and lowering its guidance for the fiscal year.

The energy sector (+0.1%) managed to eke out a victory despite crude oil's negative performance; the commodity dropped 2.0% to $49.19/bbl, ending its six-session winning streak. The downward move came on the heels of a Bloomberg survey that suggested OPEC crude output rose by 210,000 barrels per day in July.

As for the three sectors to finish in the red--industrials (-0.2%), health care (-0.2%), and consumer staples (-0.1%)--losses were relatively modest. Within the industrial space, Cummins (CMI 157.48, -10.42) was the weakest performer, dropping 6.2%, after missing bottom-line estimates.

Biotechnology names weighed on the health care sector, evidenced by the 1.0% decrease in the iShares Nasdaq Biotechnology ETF (IBB 315.77, -3.32). Meanwhile, Dow component Pfizer (PFE 33.08, -0.08) registered a modest loss of 0.2% following a mixed earnings report; PFE beat earnings estimates but fell short of revenue expectations.

In Washington, Senate Majority Leader Mitch McConnell (R-KY) announced that Congress plans to take up tax reform following its August recess, which concludes on September 4.

U.S. Treasuries rallied in a curve-flattening trade on Tuesday after June Personal Income and June Construction Spending both came in short of estimates; the benchmark 10-yr yield dropped four basis points to 2.25% while the 2-yr yield surrendered just one basis point, settling at 1.35%.

Reviewing Tuesday's economic data, which included June Personal Income and Personal Spending, June Construction Spending, and the July ISM Index:

Personal income was unchanged in June (Briefing.com consensus +0.3%) after a downwardly revised 0.3% increase for May (from 0.4%). Personal spending rose 0.1%, as expected, while the prior month's reading was revised to 0.2% from 0.1%. The core PCE Price Index, which excludes food and energy, increased 0.1%, as expected.
The key takeaway from the report is that the inflation data supported the market's preconception that the Fed is unlikely to raise the target range for the fed funds rate at its September meeting.
The Construction Spending report for June declined 1.3% while the Briefing.com consensus expected an increase of 0.5%. The prior month's reading was revised to 0.3% from 0.0%.
The key takeaway from the report is that the 1.6% year-over-year growth rate in total construction spending is the second-lowest growth rate since 2011.
The ISM Index for July declined to 56.3 from an unrevised reading of 57.8 in June while the Briefing.com consensus expected a downtick to 56.2.
The key takeaway from the report is that its core components all remain in a growth mode. According to the ISM, if the PMI for July is annualized, it corresponds to a 4.1% increase in real GDP annually.

On Wednesday, investors will receive just two pieces of economic data--the weekly MBA Mortgage Applications Index and the ADP Employment Change Report for July (Briefing.com consensus 187K). The two reports will be released at 7:00 ET and 8:15 ET, respectively.

Nasdaq Composite +18.2% YTD
S&P 500 +10.6% YTD
Dow Jones Industrial Average +11.1% YTD
Russell 2000 +5.3% YTD

Dow: +72.80… | Nasdaq: +14.82… | S&P: +6.05…

NASDAQ Adv/Dec 1509/1359. …NYSE Adv/Dec 1771/1141.

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)
Skype Messenger: kebec2002
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