TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 7:47 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: August 3rd Thursday Trade Results - Profits $1437.50
PostPosted: Thu Aug 03, 2017 9:17 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
TheStrategyLab Reviews: http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
080317-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1437.50.png
080317-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1437.50.png [ 96.89 KiB | Viewed 240 times ]

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 @ $1437.50 dollars or +28.75 points, Light Crude Oil CL ($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 @ $1437.50 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=2615

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.

Attachment:
080317-Key-Price-Action-Markets.png
080317-Key-Price-Action-Markets.png [ 908.24 KiB | Viewed 239 times ]

click on the above image to view today's price action of key markets

The Market at 04:30PM ET
Dow: +9.86… | Nasdaq: -22.30… | S&P: -5.41…
NASDAQ Vol: +2.1 bln… Adv: 1257… Dec: 1560…
NYSE Vol: 836.0 mln… Adv: 1220… Dec: 1684…

Moving the Market

Energy sector underperforms, declines by more than 1.0%

Top-weighted technology and financials sectors struggle to keep pace

Treasuries move higher after Bank of England keeps interest rates unchanged

Sector Watch
Strong: Industrials, Health Care, Utilities, Telecom Services
Weak: Energy, Materials
04:30PM ET

[BRIEFING.COM] Equities ticked down on Thursday, sending the S&P 500 and the Nasdaq lower by 0.2% and 0.4%, respectively. However, the Dow (unch) managed to eke out yet another record close, its seventh in a row.

The energy sector tumbled 1.3% on Thursday in its worst one-day performance since July 6. Just about all energy components finished in negative territory with Dow component Chevron (CVX 109.43, -1.03) dropping 0.9%. Crude oil held a gain of around 0.7% in the morning session, but dropped sharply around midday. WTI crude settled lower by 0.7% at $49.26/bbl.

In total, seven of the eleven sectors settled in negative territory. The top-weighted technology (-0.4%) and financials (-0.5%) sectors struggled to keep pace with the broader market throughout the day. The lightly-weighted materials space (-0.7%) also exhibited relative weakness while the remaining laggards finished with losses of no more than 0.3%.

At the opposite end of the leaderboard, the health care (+0.2%), industrials (+0.5%), utilities (+0.4%), and telecom services (unch) groups finished with modest victories. Aetna (AET 158.54, +3.80) helped keep the health care group afloat, climbing 2.5% after beating both top and bottom line estimates and raising its guidance for the fiscal year.

Elsewhere on the earnings front, electric automaker Tesla (TSLA 347.09, +21.20) jumped 6.5% after beating both top and bottom line estimates and announcing that its Model 3 production is on track. Also of note, Fitbit (FIT 5.84, +0.77) surged 15.2% after reporting better than expected earnings and revenues.

Transports were among the top performers in the industrial sector, pushing the Dow Jones Transportation Average higher by 0.3%. Dow components General Electric (GE 25.76, +0.24) and 3M (MMM 207.62, +2.21) also outperformed, adding 0.9% and 1.1%, respectively.

Meanwhile, the rate-sensitive utilities group benefited from broad strength as a rally in the Treasury market left interest rates lower across the yield curve; the benchmark 10-yr yield dropped four basis points to 2.23% while the 2-yr yield slipped two basis points to 1.34%.

The Treasury market moved higher after the Bank of England voted 6-2 in favor of holding the key rate at 0.25% and lowered the UK's 2017 GDP growth forecast to 1.7% from 1.9%. The previous BoE meeting featured three calls for a rate hike, but, despite the slight change in voting, the Monetary Policy Committee noted that the key rate may need to rise more than the market currently expects.

In the currency market, the U.S. dollar climbed 0.6% against the British pound to 1.3144, but the U.S. Dollar Index (92.62, -0.13) still finished lower by 0.1% as the Japanese yen showed relative strength (109.99, -0.6%). The U.S. Dollar Index settled at a 15-month low.

Reviewing Thursday's economic data, which included the weekly Initial Claims Report, June Factory Orders, and the July ISM Services Index:

The latest weekly initial jobless claims count totaled 240,000 while the Briefing.com consensus expected a reading of 242,000. Today's tally was below the revised prior week count of 245,000 (from 244,000). As for continuing claims, they increased to 1.968 million from the revised count of 1.965 million (from 1.964 million).
The key takeaway from the report is that initial claims were in-line with their longstanding trend of signaling a tight labor market.
The Factory Orders Report for June showed an increase of 3.0%, which is above the Briefing.com consensus of 2.9%. The May reading was revised to -0.3% (from -0.8%).
The key takeaway from the report is that order activity outside the transportation sector was relatively weak in June. Nondefense capital goods orders, excluding aircraft -- a proxy for business spending -- were unchanged in June.
The ISM Services Index for July declined to 53.9 from an unrevised reading of 57.4 in June. The Briefing.com consensus expected a reading of 56.9.
The key takeaway from the report is that the non-manufacturing sector's expansion saw a notable deceleration in July, which isn't an uplifting consideration as it relates to the third quarter growth outlook. According to the ISM, the past relationship between the NMI and the overall economy indicates the NMI for July corresponds to a 1.9% increase in real GDP on an annualized basis.

On Friday, investors will receive the Employment Situation Report for July at 8:30 ET. Economists polled by Briefing.com expect the jobs report to show the addition of 181,000 nonfarm payrolls, an unemployment rate of 4.3%, and an increase of 0.3% in average hourly earnings.

The only other report on Friday's economic calendar is the June Trade Balance (Briefing.com consensus -$44.9 billion), which will also be released at 8:30 ET.

Nasdaq Composite +17.8% YTD
S&P 500 +10.4% YTD
Dow Jones Industrial Average +11.5% YTD
Russell 2000 +3.5% YTD

Dow: +9.86… | Nasdaq: -22.30… | S&P: -5.41…

NASDAQ Adv/Dec 1257/1560. …NYSE Adv/Dec 1220/1684.

03:00PM ET

[BRIEFING.COM] The Dow Jones Industrial Average (+0.1%) is currently on track to post its seventh-consecutive record close, but has little room for retreat. Meanwhile, the S&P 500 and the Nasdaq hold losses of 0.2% and 0.3%, respectively, moving into the final stretch.

Energy is still trading at the bottom of the sector standings with a sizable loss of 1.7%. In total, six sectors are currently hovering in negative territory, but, outside of energy, the losses are pretty modest, ranging from 0.2% to 0.6%. On the flip side, five sectors are currently trading in the green with the rate-sensitive utilities space (+0.3%) being the top performer.

On the earnings front, several notable companies will release their quarterly reports following today's closing bell, including Kraft Heinz (KHC 86.73, -0.14), Activision Blizzard (ATVI 62.92, +1.48), and Monster Beverage (MNST 53.40, +0.36).

Dow: +18.43… | Nasdaq: -17.54… | S&P: -4.71…

NASDAQ Adv/Dec 1193/1670. …NYSE Adv/Dec 1211/1683.

02:35PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.69% at 83.3464.
Dollar index is currently up 0.01% at 92.84.
Sept WTI crude is down on the day.
Futures settled $0.35 lower to $49.26/barrel.
In other energy, Sept natural gas is lower following EIA inventory data today.
Futures settled flat at $2.81/MMBtu
Metals performed better well with precious metals and copper settling higher
Dec gold lost $10.00 to settle at $1268.20/oz, while September silver dropped $0.13 to $16.61/oz
September copper settled flat at $2.88/lb
Finally, agriculture:
September corn settled flat at $3.64/bu.
November soy is down $0.14 at $9.62/bu.
September wheat is down $0.05 at $4.56/bu.

Dow: +22.92… | Nasdaq: -13.33… | S&P: -4.1…

NASDAQ Adv/Dec 1238/1598. …NYSE Adv/Dec 1243/1669.

02:30PM ET

[BRIEFING.COM] Range-bound action continues with the S&P 500 (-0.2%) staying true to a one-point range over the last 30 minutes of trading.

Fitbit (FIT 5.74, +0.67) has surged 13.2% in today's session after beating both top and bottom line estimates. FIT shares sold off in front of the company's earnings release, dropping 12.1% from July 25 to yesterday's closing bell. Therefore, today's spike is a little misleading as it is just large enough to undo what had been done in anticipation of a poor report.

Despite Fitbit's positive performance, small caps as a whole are lagging today, evidenced by the 0.5% decrease in the Russell 2000. The small-cap index has struggled all week with today's decline extending its week-to-date loss to 1.6%. For comparison, the S&P 500 currently holds a week-to-date gain of 0.1%.

Dow: +16.10… | Nasdaq: -14.78… | S&P: -4.70…

NASDAQ Adv/Dec 1236/1603. …NYSE Adv/Dec 1236/1658.

01:55PM ET

[BRIEFING.COM] The major averages continue trending sideways with the S&P 500 showing a modest loss of 0.2%.

Snap (SNAP 12.87, +0.22) shares moved sharply higher at the bottom of the hour following a Business Insider report that Alphabet (GOOGL 943.10, -4.54) was interested in buying the social media company for at least $30 billion last year, nearly double Snap's current market cap of $15.2 billion. SNAP shares currently sport a gain of 1.7%.

Elsewhere, the CBOE Volatility Index (VIX 10.18, -0.10), often referred to as the "investor fear gauge", has ticked down a bit today, moving lower by 1.0%.

Dow: +2.80… | Nasdaq: -14.81… | S&P: -5.78…

NASDAQ Adv/Dec 1247/1611. …NYSE Adv/Dec 1257/1618.

01:40PM ET

[BRIEFING.COM] The major U.S. indices have seen some modest selling pressure in recent trading as stocks continue to trade mixed.

A look inside the Dow Jones Industrial Average shows that Pfizer (PFE 33.49, +0.57), Travelers (TRV 129.68, +0.95), & Verizon (VZ 48.48, +0.27) are outperforming. Pfizer is gaining after a positive FDA advisory committee meeting, while Verizon is advancing as telecoms outperform.

Conversely, DuPont (DD 81.17, -1.15) is the worst-performing Dow component as materials drag in today's session and are one of the worst-performing sectors in the session.

For the week, the DJIA is currently +0.84%.

Dow: +1.20… | Nasdaq: -22.91… | S&P: -6.31…

NASDAQ Adv/Dec 1214/1633. …NYSE Adv/Dec 1229/1623.

01:05PM ET

[BRIEFING.COM] The major averages are mixed at midday following a rather range-bound first half of Thursday's session. The Dow is up 0.1%, looking for its seventh-consecutive record close, while the S&P 500 and the Nasdaq show losses of 0.2% apiece.

Nine out of the eleven sectors are trading in negative territory this afternoon with the energy group (-1.1%) leading the retreat. The energy sector typically moves in tandem with crude oil and that has been the case today. The commodity held a gain of around 0.7% late this morning, but dropped sharply around noon ET. WTI crude currently hovers at its session low, down 0.8% at $49.20/bbl.

The lightly-weighted materials sector (-0.6%) also shows relative weakness, but the remaining laggards hold losses of no more than 0.3%. The top-weighted technology (-0.3%) and financials (-0.3%) spaces have struggled to keep pace with the broader market throughout today's session, which has acted as a headwind for the benchmark index.

On the flip side, the consumer staples sector (+0.2%) trades in positive territory, underpinned by Kellogg (K 70.11, +2.62) and Clorox (CLX 136.64, +4.67), both of which beat earnings estimates. The two companies currently sport gains of 4.0% and 3.6%, respectively. The industrial space (+0.1%) is the only other group currently trading in the green.

In other corporate news, electric automobile maker Tesla (TSLA 347.00, +21.11) has jumped 6.5% after beating both top and bottom line estimates and announcing that its Model 3 production is on track. Conversely, Yum! Brands (YUM 74.70, -1.92) is down 2.5% despite reporting better than expected earnings and revenues.

U.S. Treasuries have rallied in a curve-flattening trade after the Bank of England decided to maintain its key interest rate and asset purchase program at their respective 0.25% and GBP435 billion, as expected. The benchmark 10-yr yield has dropped four basis points to 2.23% while the 2-yr yield is down two basis points at 1.34%.

Meanwhile, the U.S. Dollar has climbed 0.7% against the pound to 1.3138, but the U.S. Dollar Index (92.70, -0.05) has moved lower by 0.1% has the yen shows relative strength (110.19, +0.5%).

Reviewing Thursday's economic data, which included the weekly Initial Claims Report, June Factory Orders, and the July ISM Services Index:

The latest weekly initial jobless claims count totaled 240,000 while the Briefing.com consensus expected a reading of 242,000. Today's tally was below the revised prior week count of 245,000 (from 244,000). As for continuing claims, they increased to 1.968 million from the revised count of 1.965 million (from 1.964 million).
The key takeaway from the report is that initial claims were in-line with their longstanding trend of signaling a tight labor market.
The Factory Orders Report for June showed an increase of 3.0%, which is above the Briefing.com consensus of 2.9%. The May reading was revised to -0.3% (from -0.8%).
The key takeaway from the report is that order activity outside the transportation sector was relatively weak in June. Nondefense capital goods orders, excluding aircraft -- a proxy for business spending -- were unchanged in June.
The ISM Services Index for July declined to 53.9 from an unrevised reading of 57.4 in June. The Briefing.com consensus expected a reading of 56.9.
The key takeaway from the report is that the non-manufacturing sector's expansion saw a notable deceleration in July, which isn't an uplifting consideration as it relates to the third quarter growth outlook. According to the ISM, the past relationship between the NMI and the overall economy indicates the NMI for July corresponds to a 1.9% increase in real GDP on an annualized basis.

Dow: +14.01… | Nasdaq: -14.25… | S&P: -5.16…

NASDAQ Adv/Dec 1292/1554. …NYSE Adv/Dec 1289/1551.

12:30PM ET

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

Snap (SNAP 12.51, -0.15) is in danger of posting its fifth-consecutive loss as the company is currently trading 1.0% below its unchanged mark. The social media name has struggled all summer with today's slip placing SNAP shares 40.7% below where they closed on June 2. For comparison, social media giant Facebook (FB 169.00, -0.30) has climbed 10.0% over the same stretch.

However, Snap will have a chance to redeem itself with its latest earnings report, which will cross the wires one week from today on August 10.

Dow: -5.03… | Nasdaq: -12.11… | S&P: -6.23…

NASDAQ Adv/Dec 1255/1575. …NYSE Adv/Dec 1298/1531.

12:00PM ET

[BRIEFING.COM] The tech-heavy Nasdaq (-0.3%) is currently trading a step below the S&P 500 (-0.2%) as technology stocks underperform.

Apple (AAPL 156.14, -1.01) has retraced a small portion of yesterday's earnings-induced rally this morning, dropping 0.6%. The company climbed 4.7% to a new all-time high on Wednesday after reporting better than expected earnings and revenues on Tuesday evening. In addition, Apple issued encouraging guidance, suggesting that its much-anticipated iPhone 8 release is on schedule.

Unsurprisingly, the top-weighted technology sector (-0.3%) has struggled to keep pace with the broader market amid Apple's underperformance. Chipmakers have also worked against the tech sector with Apple suppliers Broadcom (AVGO 249.30, -4.06), Micron (MU 27.74, -0.89), and Skyworks (SWKS 101.95, -2.48) showing losses between 1.7% and 3.2%.

The PHLX Semiconductor Index is down 0.8% and now trades below its 50-day simple moving average (1,084.77) for the first time in a month.

Dow: +2.32… | Nasdaq: -18.29… | S&P: -5.19…

NASDAQ Adv/Dec 1265/1555. …NYSE Adv/Dec 1343/1470.

11:30AM ET

[BRIEFING.COM] Equity indices have not budged since the last update.

The consumer discretionary sector (+0.1%) has managed to stay a step ahead of the broader market this morning amid a retail rally that's pushed the SPDR S&P Retail ETF (XRT 41.10, +0.33) higher by 0.8%. Names like Bed Bath & Beyond (BBBY 30.57, +0.74), Kohl's (KSS 42.26, +1.18), and Foot Locker (FL 48.78, +1.15) are solidly higher, sporting gains between 2.4% and 2.8%.

On the earnings front, electric automobile maker Tesla (TSLA 348.29, +22.40) has surged 6.8% in today's session following last night's earnings report. The company beat both top and bottom line estimates and announced that its Model 3 production is on track. Today's advance places TSLA shares above their 50-day simple moving average (344.90).

Dow: +12.81… | Nasdaq: -16.03… | S&P: -3.80…

NASDAQ Adv/Dec 1233/1557. …NYSE Adv/Dec 1342/1420.

11:00AM ET

[BRIEFING.COM] The major averages hover within a step of their unchanged marks. The S&P 500 and the Nasdaq are down 0.1% apiece while the Dow (+0.1%) sports a slim gain.

Five out of the eleven sectors are trading in negative territory this morning with the energy group (-0.7%) pacing the retreat, despite a relative positive performance from crude oil; the commodity is up 0.5% at $49.83/bbl. The top-weighted technology (-0.4%) and financials (-0.3%) sectors are also underperforming amid broad weakness.

On the flip side, the consumer staples group is trading at the top of the sector standings with a gain of 0.4%. Kellogg (K 70.23, +2.82) and Clorox (CLX 135.23, +3.26) are the sector's top performers, up 4.2% and 2.5%, respectively, after both companies reported better than expected earnings.

Dow: +10.68… | Nasdaq: -8.01… | S&P: -3.05…

NASDAQ Adv/Dec 1282/1452. …NYSE Adv/Dec 1364/1365.

10:45AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are down 0.43% at 83.5680.
Dollar index is flat at 92.84
Looking at energy..
Sept WTI crude oil futures are now up $0.14 at $49.73/barrel
Natural gas EIA inventory data was released and showed a build of 20 bcf vs a build of 17 bcf last week.
Sept natural gas is up $0.014 at $2.825/MMBtu
Moving on to metals...
Aug gold is down $4.50 at $1273.90/oz, while Sept silver is $0.098 at $16.635/oz
Sept copper is down $0.005 at $2.8795/lb
In agriculture...
Sept corn futures are down $0.02 at $3.63/bu
November soy futures are down $0.16 at $9.615/bu
Sept wheat futures are up $0.0025 at $4.61/bu

Dow: +7.91… | Nasdaq: -15.19… | S&P: -4.27…

NASDAQ Adv/Dec 1315/1414. …NYSE Adv/Dec 1305/1395.

10:00AM ET

[BRIEFING.COM] Equities have slipped a bit in recent action, extending the S&P 500's loss to 0.2%.

Just in, the Factory Orders Report for June showed an increase of 3.0%, which is above the Briefing.com consensus of 2.9%. The May reading was revised to -0.3% (from -0.8%).

Separately, the ISM Services Index for July declined to 53.9 from an unrevised reading of 57.4 in June. The Briefing.com consensus expected a reading of 56.9.

Dow: -16.76… | Nasdaq: -15.23… | S&P: -5.67…

NASDAQ Adv/Dec 1200/1386. …NYSE Adv/Dec 1253/1356.

09:45AM ET

[BRIEFING.COM] The major averages opened Thursday's session mixed; the Nasdaq is up 0.1% while the S&P 500 and the Dow show losses of 0.1% apiece.

Most sectors trade in the red, but losses have been relatively modest thus far. The heavily-weighted financial sector (-0.5%) shows relative weakness while the consumer staples (+0.2%) and consumer discretionary (+0.1%) spaces exhibit relative strength.

In the bond market, U.S. Treasuries are trading higher across the curve, leaving the benchmark 10-yr yield two basis points lower at 2.25%.

Dow: -9.81… | Nasdaq: +4.35… | S&P: -2.64…

NASDAQ Adv/Dec 1277/1245. …NYSE Adv/Dec 1276/1307.

09:17AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: +8.40.

It appears that the stock market will open Thursday's session little changed as the S&P 500 futures currently trade two points, or 0.1%, below fair value.

In U.S. corporate news, Tesla (TSLA 345.34, +19.45) is up 6.0% in pre-market action after beating both top and bottom line estimates and announcing that its Model 3 production is on track. Conversely, Yum! Brands (YUM 75.50, -1.12) is down 1.5% despite reporting above-consensus earnings and revenues.

The Treasury market is rallying this morning after the Bank of England decided to keep its key interest rate and asset purchase program unchanged at their respective 0.25% and GBP435 billion, as expected. The benchmark 10-yr yield is three basis points lower at 2.24%. Meanwhile, the U.S. dollar has climbed 0.7% against the pound to 1.3128.

On the data front, the latest weekly initial jobless claims count totaled 240,000 while the Briefing.com consensus expected a reading of 242,000. Today's tally was below the revised prior week count of 245,000 (from 244,000). As for continuing claims, they increased to 1.968 million from the revised count of 1.965 million (from 1.964 million).

The last two reports on today's economic calendar--June Factory Orders (Briefing.com consensus 2.9%) and the July ISM Services Index (Briefing.com consensus 56.9)--will both be released at 10:00 ET.

08:56AM ET

[BRIEFING.COM] S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: +9.50.

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

Equity indices in the Asia-Pacific region ended Thursday on a lower note. The Australian dollar has retreated 0.4% against the greenback to 0.7933 after Standard & Poor's warned that risks to Australia's AAA sovereign rating have increased. Commonwealth Bank of Australia was accused of money laundering and terrorism financing after failing to disclose suspicious transactions. In China, Minister of Commerce Gao Hucheng said he hopes China and the United States can remain on a path of cooperation. The comments took place in the wake of recent reports, suggesting the U.S. is scrutinizing its trade relations with China.

In economic data:
China's July Caixin Services PMI 51.5 (expected 51.9; last 51.6)
India's July Nikkei Services PMI 45.9 (last 53.1)
Hong Kong's July Manufacturing PMI 51.3 (last 51.1)
Australia's June trade surplus narrowed to AUD856 million from AUD2.02 billion (expected surplus of AUD1.80 billion) June Imports +2.0% month-over-month (last 1.0%) and June Exports -1.0% month-over-month (last 9.0%). July AIG Services Index 56.4 (last 54.8)
South Korea's June Current Account surplus expanded to KRW7.01 billion from KRW4.52 billion.

---Equity Markets---

Japan's Nikkei snapped its two-day streak, shedding 0.3%. Hitachi Zosen, Casio, SKY Perfect JSAT Holdings, Dainippon Screen Manufacturing, and Tokyo Electron lost between 2.4% and 7.3%. Honda Motor, Ricoh, Toyota, NGK Insulators, and J Front Retailing surrendered between 0.9% and 1.4%. Furukawa Electric spiked 14.3% after beating quarterly expectations.
Hong Kong's Hang Seng slipped 0.3%. Apple supplier AAC Technologies was the weakest performer, dropping 2.7%. Geely Automobile lost 2.3% while financials like BoC Hong Kong, Ping An Insurance, China Life Insurance, HSBC, and Bank of East Asia posted losses between 0.4% and 1.8%.
China's Shanghai Composite ended lower by 0.4%. Minmetals Capital, Baotou Huazi Industry, SAIC Motor, Shanghai New Huang Pu Real Estate, and Qingdao Haier gave up between 3.3% and 4.0%.
India's Sensex slid 0.7% amid losses in more than half of its components. Lupin and Coal India posted respective losses of 3.8% and 3.4% while financials like AXIS Bank, ICICI Bank, and HDFC Bank lost between 1.0% and 2.0%.

Major European indices trade in mixed fashion with the UK's FTSE (+1.0%) showing relative strength while Germany's DAX (-0.2%) lags. The Bank of England left its key interest rate and asset purchase program unchanged at their respective 0.25% and GBP435 billion, as expected. Two policymakers voted for a rate hike, down from three votes at the last meeting. However, the Monetary Policy Committee noted that the key rate may need to rise more than the market currently expects. The central bank lowered the UK's 2017 GDP growth forecast to 1.7% from 1.9%. European Commission President Jean-Claude Juncker said the EU is ready to retaliate if U.S. sanctions against Russia have an impact on European companies.

In economic data:
Eurozone June Retail Sales +0.5% month-over-month (expected 0.1%; last 0.4%); +3.1% year-over-year (consensus 2.6%; previous 2.4%). July Services PMI 55.4, as expected (last 55.4)
Germany's July Services PMI 53.1 (expected 53.5; last 53.5)
UK's July Services PMI 53.8 (expected 53.6; previous 53.4)
France's July Services PMI 56.0 (expected 55.9; last 55.9)
Italy's July Services PMI 56.3 (consensus 54.1; previous 53.6)
Spain's July Services PMI 57.6 (expected 58.3; last 58.3)

---Equity Markets---

Germany's DAX is lower by 0.2% with Siemens falling 3.3% after disappointing earnings. Beiersdorf, Lufthansa, and Thyssenkrupp show losses between 0.6% and 2.5%. BMW has added 0.6% after reporting results while Daimler trades flat and Volkswagen is off 0.3%. Commerzbank is the top performer, rising 1.5% while Deutsche Bank is up 0.6%. Drugmakers Bayer and Merck outperform with respective gains of 1.0% and 1.4% after Merck reported earnings.
France's CAC trades up 0.6% with financials BNP Paribas and Societe Generale both up near 1.4% while Credit Agricole has added 0.1% and AXA is down 0.2%. Consumer names like Louis Vuitton, Danone, and Kering are up between 0.5% and 1.8%.
UK's FTSE has climbed 1.0% with Next spiking 9.1% in reaction to upbeat earnings. Other consumer names like Associated British Foods, Burberry, British American Tobacco, Imperial Brands, and Diageo show gains between 0.8% and 2.0%. on the downside, financials like Standard Chartered, Provident Financial, and HSBC show losses between 0.5% and 0.7%.

08:33AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.70. Nasdaq futures vs fair value: +4.90.

The S&P 500 futures trade three points below fair value.

The latest weekly initial jobless claims count totaled 240,000 while the Briefing.com consensus expected a reading of 242,000. Today's tally was below the revised prior week count of 245,000 (from 244,000). As for continuing claims, they increased to 1.968 million from the revised count of 1.965 million (from 1.964 million).

08:07AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.60. Nasdaq futures vs fair value: +5.10.

The stock market looks poised to open Thursday's session mixed as the S&P 500 futures trade three points, or 0.1%, below fair value while the Nasdaq futures trade five points, or 0.1%, above fair value.

Equities have been relatively flat this week, holding the S&P 500 to a modest week-to-date gain of 0.2%. However, the Dow Jones Industrial Average has bucked the range-bound trend, climbing 0.9% in response to some generally upbeat earnings reports. The industrial average closed at a record high in each of the last six sessions, marking the longest streak since it hit 12 in a row back in February.

U.S. Treasuries are rallying this morning after the Bank of England decided to keep its key interest rate and asset purchase program unchanged at their respective 0.25% and GBP435 billion, as expected. The benchmark 10-yr yield is three basis points lower at 2.25%. Meanwhile, the U.S. dollar has climbed 0.5% against the pound to 1.3156.

The U.S. Dollar Index (92.84, +0.09) is up 0.1%, crude oil is higher by 0.3% at $49.73/bbl, gold is down 0.4% at $1,266.63/ozt, and the CBOE Volatility Index (VIX 10.38, +0.10) is up 1.0%.

On the data front, 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.

In U.S. corporate news:

Tesla (TSLA 346.44, +20.55): +6.3% after beating top and bottom line estimates. The company's Model 3 production is on track.
Regeneron Pharmaceuticals (REGN 495.00, +18.18): +3.8% after reporting better than expected earnings and revenues.
Aetna (AET 159.53, +4.79): +3.1% after beating both top and bottom line estimates and raising its earnings guidance for the fiscal year.
Yum! Brands (YUM 75.00, -1.62): -2.1% despite reporting better than expected earnings and revenues.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a lower note. Japan's Nikkei -0.3%, Hong Kong's Hang Seng -0.3%, China's Shanghai Composite -0.4%, India's Sensex -0.7%.
In economic data:
China's July Caixin Services PMI 51.5 (expected 51.9; last 51.6)
India's July Nikkei Services PMI 45.9 (last 53.1)
Hong Kong's July Manufacturing PMI 51.3 (last 51.1)
Australia's June trade surplus narrowed to AUD856 million from AUD2.02 billion (expected surplus of AUD1.80 billion) June Imports +2.0% month-over-month (last 1.0%) and June Exports -1.0% month-over-month (last 9.0%). July AIG Services Index 56.4 (last 54.8)
South Korea's June Current Account surplus expanded to KRW7.01 billion from KRW4.52 billion.
In news:
The Australian dollar has retreated 0.4% against the greenback to 0.7933 after Standard & Poor's warned that risks to Australia's AAA sovereign rating have increased.
Commonwealth Bank of Australia was accused of money laundering and terrorism financing after failing to disclose suspicious transactions.
In China, Minister of Commerce Gao Hucheng said he hopes China and the United States can remain on a path of cooperation. The comments took place in the wake of recent reports, suggesting the U.S. is scrutinizing its trade relations with China.

Major European indices trade in mixed fashion. Germany's DAX -0.3%, France's CAC +0.4%, UK's FTSE +0.7%.
In economic data:
Eurozone June Retail Sales +0.5% month-over-month (expected 0.1%; last 0.4%); +3.1% year-over-year (consensus 2.6%; previous 2.4%). July Services PMI 55.4, as expected (last 55.4)
Germany's July Services PMI 53.1 (expected 53.5; last 53.5)
UK's July Services PMI 53.8 (expected 53.6; previous 53.4)
France's July Services PMI 56.0 (expected 55.9; last 55.9)
Italy's July Services PMI 56.3 (consensus 54.1; previous 53.6)
Spain's July Services PMI 57.6 (expected 58.3; last 58.3)
In news:
The Bank of England left its key interest rate and asset purchase program unchanged at their respective 0.25% and GBP435 billion, as expected. Two policymakers voted for a rate hike, down from three votes at the last meeting. However, the Monetary Policy Committee noted that the key rate may need to rise more than the market currently expects. The central bank lowered the UK's 2017 GDP growth forecast to 1.7% from 1.9%.
European Commission President Jean-Claude Juncker said the EU is ready to retaliate if U.S. sanctions against Russia have an impact on European companies.

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: -3.90. Nasdaq futures vs fair value: -3.90.
05:52AM ET

[BRIEFING.COM] Nikkei

...20029...-50.80

...-0.30%

Hang Seng

...27531...-76.40

...-0.30%

05:52AM ET

[BRIEFING.COM] FTSE

...7414.58...+3.20

...+0.00%

DAX

...12163.68...-17.80

...-0.20%

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 it 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.

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
wrbanalysis@gmail.com


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr