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 Post subject: August 4th Friday Trade Results - No Trades
PostPosted: Fri Aug 04, 2017 9:39 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
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Quote:
No trades today for me. I had a lot of personal things to do involving completing paperwork...government and medical related to my hospitalization the 4th quarter of 2016. Also, I just wanted to relax so that I can have a 3 day weekend.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $0.00 dollars

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log: All of my live trades are posted real-time in the timestamp ##TheStrategyLab free chat room for anyone to do a real-time review. The live trade is posted 3.2 seconds on average after the trade confirmation via an auto script to minimize delays in posting of my trades. You can review today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=170&t=2616

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:
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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: +66.71… | Nasdaq: +11.22… | S&P: +4.67…
NASDAQ Vol: 1.9 bln… Adv: 1819… Dec: 1164…
NYSE Vol: 784.9 mln… Adv: 1657… Dec: 1257…

Moving the Market

Employment Situation Report for July comes in better than expected (209,000 actual vs 181,000 Briefing.com consensus)

Heavily-weighted financial sector outperforms as yield curve steepens

Sector Watch
Strong: Financials, Energy, Materials
Weak: Health Care, Consumer Staples, Utilities
04:30PM ET

[BRIEFING.COM] The major averages eked out another win on Friday following the release of the Employment Situation Report for July, which showed an impressive increase in nonfarm payrolls. The Dow (+0.3%) cruised to its eighth-consecutive record close, finishing a tick above both the S&P 500 (+0.2%) and the Nasdaq (+0.2%). For the week, the S&P 500 advanced 0.2%.

In terms of job growth, the July jobs report soundly beat expectations, showing the addition of 209,000 nonfarm payrolls (Briefing.com consensus 181,000). However, in terms of wage growth, investors received another unimpressive reading as the report showed an increase of just 0.3% in average hourly earnings (Briefing.com consensus +0.3%). In other words, it was another 'Goldilocks' report.

Investors have rallied around these 'Goldilocks' reports in the past as they're not hot enough to raise rate-hike concerns that are typically present amid a pick up in economic activity and not cold enough to give investors a reason to question the state of future economic growth.

Rate-hike expectations did shift up a tad following the July jobs report with the fed funds futures market assigning an implied probability of 50.4% to a December rate hike, up from 46.8% on Thursday.

U.S. Treasuries sold off in a curve-steepening trade following the release, leaving the 10-yr yield (2.26%) and the 2-yr yield (1.35%) higher by four basis points and one basis point, respectively. Meanwhile, the U.S. Dollar Index (93.35, +0.65) rallied 0.7% to eke out a modest victory for the week (+0.3%).

In the equity market, the heavily-weighted financial sector (+0.7%) outperformed from start to finish, settling the session at the top of the leaderboard. However, the space slipped to the bottom of its trading range in the afternoon following reports that Wells Fargo's (WFC 52.84, -0.56) customer account scandal could be bigger than previously thought. WFC shares closed lower by 1.1%.

Out of the remaining sectors, seven groups--consumer discretionary (unch), industrials (+0.2%), energy (+0.4%), materials (+0.5%), technology (+0.3%), telecom services (+0.5%) and real estate (+0.3%)--finished in positive territory. As for the laggards--health care (-0.2%), consumer staples (-0.2%), and materials (-0.3%)--the losses were modest.

On the earnings front, a handful of notable small-cap companies dominated the headlines, including Yelp (YELP 40.05, +8.68), GrubHub (GRUB 52.62 +4.37), GoPro (GPRO 9.85, +1.59), and Weight Watchers (WTW 41.39, +8.31). Weight Watchers and GoPro surged 25.1% and 19.3%, respectively, after both companies beat top and bottom line estimates and issued positive guidance.

Meanwhile, Yelp and GrubHub spiked 27.7% and 9.1%, respectively, after GrubHub said it plans to buy Yelp's Eat24 business for $287.5 million in cash. As for earnings, GRUB's latest report was in line with expectations while YELP's showed better than expected earnings and revenues. The small-cap Russell 2000 settled ahead of the broader market, climbing 0.5%.

Reviewing Friday's economic data, which included the Employment Situation Report for July and the June Trade Balance:

Employment Situation Report for July
July nonfarm payrolls hit 209,000 while the Briefing.com consensus expected a reading of 181,000. The prior month's reading was revised to 231,000 from 222,000. Nonfarm private payrolls added 205,000 while the Briefing.com consensus expected an increase of 175,000. The previous month's reading was revised to 194,000 from 187,000.
The unemployment rate declined to 4.3% (Briefing.com consensus 4.3%). Average hourly earnings increased 0.3% (Briefing.com consensus +0.3%), while the previous month's reading was left unrevised at 0.2%. The average workweek was reported at 34.5, as expected. The previous month's reading was left unrevised at 34.5.
The key takeaway from the report is that it fit that sweet spot yet again for the stock market where job growth was strong but wage growth was not. The assumption, therefore, is that the Fed will continue to wait on its next rate hike.
Trade Balance for June
The June trade balance showed a deficit of $43.6 billion while the Briefing.com consensus expected the deficit to hit $44.9 billion. The previous month's deficit was revised to $46.4 billion (from $46.5 billion).
The key takeaway from the report is that it should factor favorably in the revision to Q2 GDP.

On Monday, investors will receive just one economic report--June Consumer Credit (Briefing.com consensus $16.2 billion)--which will cross the wires at 15:00 ET.

Nasdaq Composite +18.0% YTD
S&P 500 +10.6% YTD
Dow Jones Industrial Average +11.8% YTD
Russell 2000 +4.1% YTD

Week In Review: Dow Domination

According to the Dow Jones Industrial Average, the stock market had yet another bullish week; the industrial average ended Friday at a record high, for the eighth session in a row, and a weekly gain of 1.2%. However, the S&P 500 and the Nasdaq tell a less conclusive story; the S&P 500 muscled its way to a modest victory, adding 0.2%, while the Nasdaq dropped 0.4%.

Regardless of this week's mixed performance, there's no question that investors are still bullish as stocks hover near all-time highs and the CBOE Volatility Index (VIX) hovers near an all-time low.

The week's most notable headlines in chronological order:

Crude oil settled July with its best one-month gain (+9.0%) since April 2016
The core PCE Price Index for June hit expectations (+0.1%), as did personal spending (+0.1%), but personal income fell short (0.0% vs 0.3%)
Sprint (S) spiked after beating earnings estimates, raising its profit guidance, and saying it believes an M&A announcement will come "in the near future"
American automakers General Motors (GM) and Ford Motor (F) tumbled following disappointing July sales figures
Apple (AAPL) jumped after beating both top and bottom line estimates and implying that its much-anticipated iPhone 8 release is on track
Treasuries rallied after the Bank of England decided to leave interest rates unchanged in a 6-2 vote
Tesla (TSLA) beat both top and bottom line estimates and announced that its Model 3 production is on track
The Employment Situation Report for July soundly beat estimates, showing the addition of 209,000 nonfarm payrolls (Briefing.com consensus 181,000)
However, average hourly earnings remained subdued, increasing just 0.3% (Briefing.com consensus +0.3%)

Of those headlines, two are worth a closer look--Apple's earnings report and the Employment Situation Report for July. Apple is the S&P 500's largest component by market cap and has played a huge role in the stock market's 2017 advance, evidenced by the massive 29.6% year-to-date gain it took into Tuesday night's earnings release.

Needless to say, it's quite impressive that the company was able to deliver in the face of such lofty expectations. However, it's also important to note that much of the positive sentiment surrounding the company has to do with its upcoming iPhone 8 release, which has been generating hype for months. So far, everything looks to be on track for the fall release, but if that changes, so might the bullish bias.

As for the July jobs report, the key take away is it hit the sweet spot once again as job growth was strong but wage growth was not, keeping inflationary concerns at bay. The fed funds futures market points to the December FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 50.4%. Last week, the market expected the next hike to occur in January.

Four sectors settled the week in the green--financials (+1.8%), utilities (+1.5%), industrials (+0.8%), and technology (+0.4%)--while seven groups finished in the red--energy (-1.0%), materials (-0.8%), health care (-0.6%), consumer staples (-0.6%), consumer discretionary (-0.4%), real estate (-0.2%), and telecom services (-0.1%).

Outside of the equity market, the benchmark 10-yr yield slipped three basis points to 2.26%, crude oil dropped 0.5% to $49.44/bbl, and the U.S. Dollar Index climbed 0.3% to 93.35.

Dow: +66.71… | Nasdaq: +11.22… | S&P: +4.67…

NASDAQ Adv/Dec 1819/1164. …NYSE Adv/Dec 1657/1257.

03:00PM ET

[BRIEFING.COM] The Dow (+0.2%) is in position to post its eighth-consecutive record close moving into the final stretch.

Seven of eleven sectors are currently trading in the green. The financial space (+0.6%) is still leading, but has weakened a bit this afternoon. On the flip side, the four laggards hold losses between 0.1% and 0.4% with the utilities space (-0.4%) being the weakest performer.

For the week, the Dow and the S&P 500 hold respective gains of 1.1% and 0.1%. Meanwhile, the Nasdaq holds a week-to-date loss of 0.5%.

Dow: +5.62… | Nasdaq: +2.15… | S&P: +40.82…

NASDAQ Adv/Dec 1650/1301. …NYSE Adv/Dec 1579/1327.

02:40PM ET

[BRIEFING.COM] Commodities end the day flat:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently flat at 82.277.
Dollar index is currently up 0.76% at 93.55.
Sept WTI crude is up on the day.
Futures settled $0.18 higher to $49.44/barrel.
In other energy, Sept natural gas settled lower $0.03 at $2.777/MMBtu
Precious were down:
Dec gold lost $3.70 to settle at $1264.50/oz, while September silver lost $0.34 to $16.27/oz
September copper settled flat at $2.88/lb
Finally, agriculture:
September corn is $0.03 higher at $3.67/bu.
November soy is down $0.05 at $9.57/bu.
September wheat is down $0.01 at $4.55/bu.

Dow: +38.64… | Nasdaq: +1.81… | S&P: +2.15…

NASDAQ Adv/Dec 1641/1291. …NYSE Adv/Dec 1557/1336.

02:30PM ET

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

Transports are outperforming today, evidenced by the 0.8% increase in the Dow Jones Transportation Average. 17 of the DJTA's 20 components are trading in the green with Avis Budget (CAR 32.44, +1.53) leading the charge. CAR shares have climbed 5.0% in today's session after being initiated with an 'Overweight' rating at JP Morgan early this morning.

Wells Fargo (WFC 52.74, -0.66) has moved sharply lower this afternoon following reports that the company might face regulatory concerns regarding auto insurance. WFC shares are down 1.2% and have pulled the financial sector (+0.6%) from its best mark of the day.

Dow: +47.46… | Nasdaq: +7.13… | S&P: +3.68…

NASDAQ Adv/Dec 1684/1267. …NYSE Adv/Dec 1567/1324.

02:00PM ET

[BRIEFING.COM] Stocks are still trading slightly higher this afternoon, putting the Dow (+0.1%) on track for its eighth-consecutive record close.

Only three sectors--health care (-0.3%), consumer staples (-0.2%), and utilities (-0.5%)--are currently trading in negative territory. Of these three, the health care sector is the most influential as it ranks third behind the technology (+0.2%) and financials (+0.9%) groups in terms of weight. The vast majority of health care components are trading lower, but biotechnology names have exhibited relative strength, pushing the iShares Nasdaq Biotechnology ETF (IBB 315.56, +1.01) higher by 0.3%.

The IBB has struggled as of late, dropping 3.5% in a little less than two weeks. Despite the slide, the iShares Nasdaq Biotechnology ETF is still trading a little ways above its 50-day moving average (308.42).

Dow: +45.14… | Nasdaq: +7.48… | S&P: +3.80…

NASDAQ Adv/Dec 1672/1243. …NYSE Adv/Dec 1584/1292.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to hold modest gains in afternoon trading following this morning's strong jobs report.

A look inside the Dow Jones Industrial Average shows that Goldman Sachs (GS 228.94, +4.95), JP Morgan (JPM 93.79, +1.29), & Pfizer (PFE 33.74, +0.31) are outperforming. Goldman and JP Morgan are leading the Dow higher as financials rally following this morning's jobs report, which showed that the US economy added more jobs in July than analysts expected.

Conversely, Walt Disney (DIS 107.54, -1.58) is the worst-performing Dow component as media stocks pullback following earnings and cautious commentary from MTV-owner Viacom (VIAB 31.14, -3.93).

With stocks continuing their march higher today, the DJIA is poised at current levels to close the week higher by 1.07%.

Dow: +42.25… | Nasdaq: +6.79… | S&P: +3.63…

NASDAQ Adv/Dec 1658/1249. …NYSE Adv/Dec 1584/1280.

01:00PM ET

[BRIEFING.COM] The major averages are trading slightly higher this afternoon following the release of the Employment Situation Report for July, which came in stronger than expected. The S&P 500 and the Nasdaq sport gains of 0.1% apiece while the Dow (+0.2%) outperforms slightly, looking for its eight-consecutive record close.

July nonfarm payrolls hit 209,000, easily surpassing the Briefing.com consensus of 181,000. In addition, the prior month's reading was upwardly revised to 231,000 from 222,000. Nonfarm private payrolls also came in better than expected, adding 205,000 (Briefing.com consensus 175,000). The previous month's reading was revised to 194,000 from 187,000.

Average hourly earnings, which have been relatively subdued despite a tightening of the labor market, increased 0.3% as expected. Also of note, the unemployment rate declined to 4.3% and the average work week was reported at 34.5, as expected.

The key takeaway from the report is that it fit that sweet spot yet again for the stock market where job growth was strong but wage growth was not. The assumption, therefore, is that the Fed will continue to wait on its next rate hike. The fed funds futures market points to the January FOMC meeting as the mostly likely time for the next rate-hike announcement with an implied probability of 51.4%.

U.S. Treasuries have moved lower in a curve-steepening trade following the jobs report, pushing the 2-yr yield (1.35%) and the 10-yr yield (2.26%) higher by one and four basis point(s), respectively. Meanwhile, the U.S. Dollar Index (93.47, +0.77) is trading solidly higher, up 0.8%.

As for the sector standings, six out of the eleven groups are currently trading in positive territory. The heavily-weighted financial sector (+0.9%) is the top performer, underpinned by the steepening of the yield curve mentioned above. Today's advance extends the sector's week-to-date gain to 1.9%, which is good enough for first place on the week's leaderboard.

The top-weighted technology sector (+0.5%) has also put together a solid performance amid broad strength. However, the remaining advancers hold more modest gains of no more than 0.4% apiece. On the flip side, the rate-sensitive utilities sector (-0.7%) hovers at the bottom of the day's leaderboard, but the remaining laggards hold losses of no more than 0.3% apiece.

On the earnings front, several notable small-cap names released their quarterly reports between yesterday's close and today's open, including Yelp (YELP 39.96, +8.56), GrubHub (GRUB 52.27 +4.02), GoPro (GPRO 9.94, +1.68), and Weight Watchers (WTW 41.23, +8.14). The reactions have been positive thus far with all four companies currently trading solidly higher.

Yelp and GrubHub have spiked 27.4% and 8.3%, respectively, after GrubHub said it plans to buy Yelp's Eat24 business for $287.5 million in cash. As for earnings, GRUB's latest report was in line with expectations while YELP's showed better than expected earnings and revenues.

Meanwhile, Weight Watchers and GoPro have surged 24.6% and 20.7%, respectively, after both companies beat top and bottom line estimates and issued positive guidance. The small-cap Russell 2000 (+0.5%) trades a step ahead of the broader market, looking for its second win of the week.

Reviewing Friday's economic data, which included the Employment Situation Report for July and the June Trade Balance:

Employment Situation Report for July
July nonfarm payrolls hit 209,000 while the Briefing.com consensus expected a reading of 181,000. The prior month's reading was revised to 231,000 from 222,000. Nonfarm private payrolls added 205,000 while the Briefing.com consensus expected an increase of 175,000. The previous month's reading was revised to 194,000 from 187,000.
The unemployment rate declined to 4.3% (Briefing.com consensus 4.3%). Average hourly earnings increased 0.3% (Briefing.com consensus +0.3%), while the previous month's reading was left unrevised at 0.2%. The average workweek was reported at 34.5, as expected. The previous month's reading was left unrevised at 34.5.
The key takeaway from the report is that it fit that sweet spot yet again for the stock market where job growth was strong but wage growth was not. The assumption, therefore, is that the Fed will continue to wait on its next rate hike.
Trade Balance for June
The June trade balance showed a deficit of $43.6 billion while the Briefing.com consensus expected the deficit to hit $44.9 billion. The previous month's deficit was revised to $46.4 billion (from $46.5 billion).
The key takeaway from the report is that it should factor favorably in the revision to Q2 GDP.

Dow: +30.09… | Nasdaq: +8.67… | S&P: +2.53…

NASDAQ Adv/Dec 1670/1227. …NYSE Adv/Dec 1600/1250.

12:30PM ET

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

Five out of the eleven sectors are currently trading in the green with the heavily-weighted financial space (+0.9%) pacing the advance. The four remaining advancers sport more modest gains of no more than 0.5%. On the flip side, the utilities sector trades at the bottom of the sector standings with a loss of 0.6%.

The U.S. Dollar Index (93.49, +0.79) has climbed 0.9% in today's session following another 'Goldilocks' Employment Situation Report. The dollar has added 1.0% against the euro (1.1747), 0.8% against the pound (1.3037), and 0.7% against the yen (110.83).

Dow: +37.48… | Nasdaq: +9.44… | S&P: +3.47…

NASDAQ Adv/Dec 1656/1225. …NYSE Adv/Dec 1621/1230.

12:00PM ET

[BRIEFING.COM] Equities continue trending sideways moving into the afternoon session. The S&P 500 (+0.2%) has drifted within a three-point range over the last hour of action.

The top-weighted technology sector (+0.5%) has managed to keep ahead of the benchmark index this morning amid broad strength. Microchip (MCHP 83.33, +2.65) is the sector's top-performer, climbing 3.3%, after the company beat both top and bottom line estimates and issued upbeat guidance. The PHLX Semiconductor Index is up 0.6%.

Elsewhere, crude oil held a sizable loss in early-morning action, trading as low as -1.0%. However, the bulls have been in the driver's seat as of late, reclaiming all of the early decline and more. The commodity currently trades higher by 0.8% at a price of $49.45/bbl. Today's advance trims crude oil's week-to-date loss to 0.5%.

The energy sector, which typically moves in tandem with crude oil, trades higher by 0.2%.

Dow: +32.51… | Nasdaq: +12.31… | S&P: +4.24…

NASDAQ Adv/Dec 1631/1230. …NYSE Adv/Dec 1532/1298.

11:30AM ET

[BRIEFING.COM] The small-cap Russell 2000 (+0.4%) trades a step ahead of the broader market this morning, looking for its second win of the week.

Several notable small-cap names released their latest earnings reports between yesterday's close and today's open, including Yelp (YELP 39.97, +8.61), GrubHub (GRUB 52.86 +4.62), GoPro (GPRO 9.93, +1.67), and Weight Watchers (WTW 41.80, +8.72). The reactions have been positive thus far with all four companies currently trading solidly higher.

Yelp and GrubHub have spiked 27.6% and 9.5%, respectively, after GrubHub said it plans to buy Yelp's Eat24 business for $287.5 million in cash. As for earnings, GRUB's latest report was in line with expectations while YELP's showed better than expected earnings and revenues.

Meanwhile, Weight Watchers and GoPro have surged 25.7% and 18.8%, respectively, after both companies beat top and bottom line estimates and issued positive guidance.

Dow: +23.54… | Nasdaq: +17.49… | S&P: +3.89…

NASDAQ Adv/Dec 1697/1125. …NYSE Adv/Dec 1524/1277.

11:00AM ET

[BRIEFING.COM] Equity indices hover near their opening levels with the S&P 500 showing a gain of 0.2%.

The heavily-weighted financial sector (+0.9%) has continued chugging along this morning, doing everything it can to keep the broader market afloat. Banks are trading higher across the board with Bank of America (BAC 25.05, +0.68) showing particular strength, jumping 2.8% to its best level in a month.

A steepening of the yield curve has helped fuel financials' rally; the 2yr-10yr spread has increased four basis points to 0.91. The benchmark 10-yr yield is up six basis points at 2.28%.

Dow: +36.85… | Nasdaq: +10.22… | S&P: +5.23…

NASDAQ Adv/Dec 1621/1171. …NYSE Adv/Dec 1529/1266.

10:35AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are down 0.37% at 82.0288.
Dollar index is currently up 0.89% at 93.66.
Looking at energy..
Sept WTI crude oil futures are now down $0.19 at $48.84/barrel
Sept natural gas is down $0.015 at $2.785/MMBtu
Moving on to metals...
Aug gold is down $11.90 at $1262.60/oz, while Sept silver is down $0.38 at $16.25/oz
Sept copper is down $0.006 at $2.872/lb
In agriculture...
Sept corn futures are up $0.0425 at $3.6775/bu
November soy futures are up $0.0125 at $9.6175/bu
Sept wheat futures are up $0.0125 at $4.5925/bu

Dow: +35… | Nasdaq: +12.7… | S&P: +5.25…

NASDAQ Adv/Dec 1609/1142. …NYSE Adv/Dec 1582/1182.

10:00AM ET

[BRIEFING.COM] The major averages continue trading a step above their unchanged marks.

Apple (AAPL 157.30, +1.74) is up 1.1% in early action, helping keep the top-weighted technology sector (+0.3%) ahead of the broader market. For the week, the tech group is one of only four sectors currently trading in the green with this morning's uptick extending its week-to-date gain to 0.5%.

Meanwhile, the consumer discretionary sector (-0.1%) is struggling to stay afloat as broadcasting names weigh. Viacom (VIAB 31.41, -3.64) has plunged 10.4% after a decline in domestic advertising revenue overshadowed better than expected earnings.

Dow: +18.95… | Nasdaq: +0.60… | S&P: +2.31…

NASDAQ Adv/Dec 1525/1122. …NYSE Adv/Dec 1548/1108.

09:45AM ET

[BRIEFING.COM] The major averages opened Friday's session modestly higher with the S&P 500 sporting a gain of 0.2%.

Most sectors trade in the green with the heavily-weighted financial group (+0.6%) leading the charge amid broad strength. The financial sector's early advance places it in first place on the weekly leaderboard, extending its week-to-date gain to 1.7%. On the flip side, the rate-sensitive utilities space (-0.2%) exhibits relative weakness.

U.S. Treasuries are trading lower across the curve following this morning's July jobs report, which showed the addition of 209,000 nonfarm payrolls (Briefing.com consensus 181,000). The benchmark 10-yr yield is higher by three basis points at 2.26%.

Dow: +52.13… | Nasdaq: +10.06… | S&P: +6.30…

NASDAQ Adv/Dec 1558/1016. …NYSE Adv/Dec 1740/834.

09:17AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +2.50.

The stock market looks poised to open Friday's session in the green after the Employment Situation Report for July came in better than expected. The S&P 500 futures trade five points, or 0.2%, above fair value.

July nonfarm payrolls hit 209,000, easily surpassing the Briefing.com consensus of 181,000. In addition, the prior month's reading was upwardly revised to 231,000 from 222,000. Nonfarm private payrolls also came in better than expected, adding 205,000 (Briefing.com consensus 175,000). The previous month's reading was revised to 194,000 from 187,000.

Average hourly earnings, which have been relatively subdued despite a tightening of the labor market, increased 0.3% as expected. Also of note, the unemployment rate declined to 4.3% and the average work week was reported at 34.5, as expected.

The key takeaway from the July jobs report is that it hit that sweet spot yet again where job growth was strong but wage growth was not.

U.S. Treasuries extended their early-morning losses following the jobs report release, pushing the benchmark 10-yr yield higher by five basis points to 2.27%. Selling at the front end of the curve has been more modest, leaving the 2-yr yield higher by just one basis point at 1.35%. Meanwhile, the U.S. Dollar Index (92.97, +0.27) tacked on 0.3% after hovering near its flat line in front of the release.

In corporate news, Viacom (VIAB 38.00, -3.20) has dropped 7.8% despite beating both top and bottom line estimates. Conversely, Weight Watchers (WTW 38.47, +5.39) has surged 16.3% in reaction to better than expected earnings/revenues and upbeat guidance.

The S&P 500 enters Friday's session flat for the week.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +2.50.

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

Equity indices in the Asia-Pacific region ended the week on a mixed note. The Reserve Bank of Australia released its August policy statement, noting that the pace of growth is at risk due to the Australian dollar's recent show of strength. The central bank lowered its 2017 GDP forecast for Australia to 2.5% from 3.0%. Former Bank of Japan member Takahide Kiuchi expressed hope that other central bank members will consider the serious side effects of ultra-easy monetary policy and that the central bank could reach a purchase limit in the middle of 2018. Also of note, Japan reported its first year-over-year decline in average cash earnings in 13 months.

In economic data:
Japan's June Overtime Pay -0.2% year-over-year (last 0.7%) and Average Cash Earnings -0.4% (expected 0.6%; last 0.6%)
Australia's Q2 Retail Sales +0.3% month-over-month (consensus 0.2%; last 0.6%); +1.5% quarter-over-quarter (expected 1.2%; last 0.2%)

---Equity Markets---

Japan's Nikkei slipped 0.4% to end the week little changed. The index has now spent nine weeks in a 200-point range. Sapporo Holdings, Alps Electric, Mitsui Fudosan, TDK, Tokyo Electron, Kikkoman, Honda Motor, and Nitto Denko lost between 1.9% and 4.1%. On the upside, Suzuki Motor, Mazda Motor, and Olympus gained between 1.7% and 8.7%. Toyota Motor shed 0.1% prior to reporting above-consensus results and boosting its guidance.
Hong Kong's Hang Seng added 0.1%, extending its weekly gain to 2.2%. Geely Automobile surged 4.3% while property names like Cheung Kong Property Holdings, SHK Properties, Henderson Land, Wharf Holdings, Sino Land, New World Development, and Hang Lung Properties gained between 0.6% and 4.3%. Energy names like China Shenhua Energy and CNOOC lost 1.2% and 0.5%, respectively.
China's Shanghai Composite slipped into the close, shedding 0.3%. The index added 0.3% for the week. Sichuan Mingxing Electric Power, Shanghai U9 Game, Fangda Special Steel, BGRIMM Technology, Ningbo Shanshan, and Rising Nonferrous Metals Share lost between 4.2% and 5.3%.
India's Sensex rose 0.3% to end the week higher by 0.9%. Hero MotoCorp, Coal India, Tata Steel, Hindustan Unilever, and Bajaj Auto advanced between 1.4% and 3.1% while Tata Consultancy and Infosys added 1.3% and 0.2%, respectively. Wipro shed 0.1%.

Major European indices have jumped to new session highs in recent action after the U.S. Employment Situation Report for July came in better than expected (209,000 actual vs 181,000 Briefing.com consensus). Italy's National Institute for Statistics said that the Italian economy is moving in a positive direction. The euro and the pound both trade little changed against the dollar.

In economic data:
Eurozone Retail PMI 51.0 (last 53.2)
Germany's June Factory Orders +1.0% month-over-month (expected 0.5%; last 1.1%)
Italy's June Retail Sales +0.6% month-over-month (expected 0.2%; last -0.1%); +1.5% year-over-year (last 1.0%)
Spain's June Industrial Production +2.7% year-over-year (consensus 2.8%; last 3.3%)

---Equity Markets---

Germany's DAX is higher by 0.6%. Infineon and Adidas are both up near 2.6% while automakers BMW and Daimler show respective gains of 1.7% and 0.7%. Volkswagen lags, falling 0.5%. BASF, Lufthansa, and Heidelbergcement show gains between 0.5% and 1.4%.
UK's FTSE has added 0.3% with select financials and consumer stocks contributing to the advance. RBS, Standard Chartered, British American Tobacco, Diageo, Burberry, Carnival, and Associated British Foods show gains between 0.5% and 2.3%. Barratt Developments is down 4.8% after cautious analyst comments while peers Persimmon and Taylor Wimpey hold respective losses of 3.7% and 3.4%.
France's CAC trades up 0.8%. Carrefour is one of the top performers with a gain of 1.4% while other consumer names like Danone, Kering, and Pernod Ricard have added between 0.9% and 1.3%. Financials are mixed, as AXA falls 0.5% while BNP Paribas, Credit Agricole, and Societe Generale sport gains between 0.8% and 2.2%.

08:34AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +9.00.

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

Just in, July nonfarm payrolls hit 209,000 while the Briefing.com consensus expected a reading of 181,000. The prior month's reading was revised to 231,000 from 222,000. Nonfarm private payrolls added 205,000 while the Briefing.com consensus expected an increase of 175,000. The previous month's reading was revised to 194,000 from 187,000.

The unemployment rate declined to 4.3% (Briefing.com consensus 4.3%). Average hourly earnings increased 0.3% (Briefing.com consensus +0.3%), while the previous month's reading was left unrevised at 0.2%. The average workweek was reported at 34.5, as expected. The previous month's reading was left unrevised at 34.5.

Separately, the June trade balance showed a deficit of $43.6 billion while the Briefing.com consensus expected the deficit to hit $44.9 billion. The previous month's deficit was revised to $46.4 billion (from $46.5 billion).

08:03AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +9.50.

Equity futures are modestly higher this morning ahead of the 8:30 ET release of the Employment Situation Report for July. The S&P 500 futures currently trade five points, or 0.2%, above fair value.

Economists polled by Briefing.com expect that the July jobs report will 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 average hourly earnings figure will be of particular interest as lackluster wage growth amid a tightening labor market has forced the Fed to tap the brakes on raising interest rates.

In addition to the Employment Situation Report, investors will also receive the June Trade Balance (Briefing.com consensus -$44.9 billion) at 8:30 ET. The two reports are the only economic releases of the day.

U.S. Treasuries are trading modestly lower in early action with the benchmark 10-yr yield climbing one basis point to 2.23%. Meanwhile, the U.S. Dollar Index (92.67, -0.03) trades flat.

Crude oil has extended yesterday's decline this morning, dropping 0.4% to $48.81/bbl. For the week, the commodity has moved lower by 1.8%.

In U.S. corporate news:

Kraft Heinz (KHC 87.50, +0.99): +1.1% after beating earnings estimates.
Cigna (CI 182.00, +5.95) +3.4% after reporting better than expected earnings and raising its earnings guidance for the fiscal year.
Newell Brands (NWL 54.29, +1.73): +3.3% after beating revenue estimates and raising its revenue guidance for the fiscal year.
Viacom (VIAB 32.10, -2.97): -8.5% despite beating top and bottom line estimates.
Western Union (WU 20.50, +0.92): +4.7% after reporting better than expected earnings and raising its guidance for the fiscal year.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mixed note. Japan's Nikkei -0.4%, Hong Kong's Hang Seng +0.1%, China's Shanghai Composite -0.3%, India's Sensex +0.3%.
In economic data:
Japan's June Overtime Pay -0.2% year-over-year (last 0.7%) and Average Cash Earnings -0.4% (expected 0.6%; last 0.6%)
Australia's Q2 Retail Sales +0.3% month-over-month (consensus 0.2%; last 0.6%); +1.5% quarter-over-quarter (expected 1.2%; last 0.2%)
In news:
The Reserve Bank of Australia released its August policy statement, noting that the pace of growth is at risk due to the Australian dollar's recent show of strength. The central bank lowered its 2017 GDP forecast for Australia to 2.5% from 3.0%.
Former Bank of Japan member Takahide Kiuchi expressed hope that other central bank members will consider the serious side effects of ultra-easy monetary policy and that the central bank could reach a purchase limit in the middle of 2018.
Japan reported its first year-over-year decline in average cash earnings in 13 months.

Major European indices trade near their flat lines ahead of the release of the U.S. Employment Situation report for July. Germany's DAX +0.1%, UK's FTSE +0.2%, France's CAC +0.2%.
In economic data:
Eurozone Retail PMI 51.0 (last 53.2)
Germany's June Factory Orders +1.0% month-over-month (expected 0.5%; last 1.1%)
Italy's June Retail Sales +0.6% month-over-month (expected 0.2%; last -0.1%); +1.5% year-over-year (last 1.0%)
Spain's June Industrial Production +2.7% year-over-year (consensus 2.8%; last 3.3%)
In news:
Italy's National Institute for Statistics said that the Italian economy is moving in a positive direction.

05:55AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +6.30.
05:55AM ET

[BRIEFING.COM] Nikkei

...19952...-76.90

...-0.40%

Hang Seng

...27563...+31.70

...+0.10%

05:55AM ET

[BRIEFING.COM] FTSE

...7482.00...+7.20

...+0.10%

DAX

...12183.25...+28.50

...+0.20%

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

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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