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 Post subject: August 9th Wednesday Trade Results - Profits $3887.50
PostPosted: Wed Aug 09, 2017 11:55 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
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:
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080917-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3887.50.png [ 96.57 KiB | Viewed 556 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 @ $3887.50 dollars or +77.75 points, Light Crude Oil CL ($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 @ $3887.50 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 via the user name wrbtrader 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=2619

Image ##TheStrategyLab Chat Room is free. The free chat room is not a signal calling trading room. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of TheStrategyLab free chat room is for you to use as your trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. Also, you can use TheStrategyLab free chat room to ask real-time WRB Analysis questions. Yet, please do not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for security reasons. TheStrategyLab free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages and many different types of social media software can be used to log in. I'm the moderator of the free chat room. Thus, I keep the peace between members via removing trouble makers so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell. TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below for you to review are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=327&t=3486 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives for easy review to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker PnL statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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

The Market at 04:30PM ET
Dow: -36.64… | Nasdaq: -18.13… | S&P: -0.90…
NASDAQ Vol: 2.03 bln… Adv: 803… Dec: 2025…
NYSE Vol: 805.9 mln… Adv: 886… Dec: 2043…

Moving the Market

Caution following yesterday's verbal spat between the U.S. and North Korea

VIX jumps to one-month high, Treasuries rally amid risk-off sentiment

Disney (DIS) drops after missing revenue estimates and announcing an end to its distribution agreement with Netflix (NFLX)

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

[BRIEFING.COM] Investors took some additional profits on Wednesday as concerns surrounding the continued breakdown of U.S.-North Korea relations weighed on investor sentiment for the second day in a row. However, the cautious tone largely subsided by the day's end, making way for a late-afternoon rally that left the major averages at their best marks of the day. The S&P 500 finished just a tick below its flat line while the Dow and the Nasdaq settled lower by 0.2% and 0.3%, respectively. Small caps underperformed, sending the Russell 2000 lower by 0.9%.

On Tuesday, President Donald Trump warned that North Korea will be "met with fire and fury" if it continues to threaten nuclear action against the United States. Undeterred, North Korea responded just a few hours later by saying it's "carefully examining" a plan to strike the U.S. territory of Guam.

Investors have largely shrugged off the ongoing feud between the U.S. and North Korea, but yesterday's comments held a little more weight following reports that Pyongyang now has the capability to load their missiles with miniaturized nuclear warheads. Still, given the stock market's very modest two-day decline, it's clear that investors don't truly believe conflict is on the horizon.

Rather, market participants have used the aforementioned headlines as a convenient excuse to take some money off the table following the stock market's most recent run to new record highs.

Sector movement was pretty modest with eight of the eleven groups settling within 0.2% of their unchanged marks. Six sectors finished in the green with health care (+0.2%) leading the advance. On the flip side, four sectors closed in negative territory with the consumer discretionary (-0.5%) and utilities (-0.5%) spaces pacing the retreat. The industrial group finished flat.

Walt Disney (DIS 102.83, -4.15) and Netflix (NFLX 175.78, -2.58) weighed on the consumer discretionary space, dropping 3.9% and 1.5%, respectively, after Disney announced that it will end its distribution agreement with Netflix in 2019 in favor of a new direct-to-consumer streaming strategy. In addition, Disney reported earnings, beating bottom-line estimates, but missing on revenues.

Elsewhere on the earnings front, Priceline (PCLN 1906.80, -142.20) plunged 6.9% after below-consensus guidance overshadowed the company's better than expected earnings and revenues.

In the bond market, U.S. Treasuries climbed higher as safe-haven assets benefited from the day's risk-off tone; the benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, slipped four basis points to 2.24%. Meanwhile, gold jumped 1.3% to $1,279.20/ozt and the Japanese yen climbed 0.3% to 110.02 against the U.S. Dollar.

Crude oil advanced 1.0% to $49.59/bbl after the Department of Energy reported a larger than expected draw in U.S. crude inventories (-6.5 million barrels actual vs -2.2 million barrels consensus). The commodity trended sideways near its flat line for some time before moving decidedly higher in the afternoon.

Reviewing Wednesday's economic data, which included second quarter Productivity and Unit Labor Costs, June Wholesale Inventories, and the weekly MBA Mortgage Applications Index:

The preliminary unit labor costs increased 0.6% during the second quarter, which was lower than the 1.5% increase that had been anticipated by the Briefing.com consensus. The preliminary productivity reading came in at +0.9% while the Briefing.com consensus expected an increase of 0.5%.
The key takeaway from the report, which also included revisions for the first quarter 2014 through the first quarter 2017, is that productivity continues to be weak, which is an impediment for an increased standard of living. In fact, with the revisions, it was shown that productivity decreased 0.1% in 2016, which is the first annual decrease since a 1.0% decrease in 1982.
June Wholesale Inventories increased 0.7% (Briefing.com consensus +0.6%). The prior month's reading was revised to +0.6% from +0.4%.
The key takeaway from the report is that there wasn't any progress in reducing the inventory-to-sales ratio, which would be helpful for wholesalers looking to gain some more pricing power.
The weekly MBA Mortgage Applications Index increased 3.0% to follow last week's 2.8% decrease.

On Thursday, investors will receive two pieces of economic data--the July Producer Price Index (Briefing.com consensus +0.2%) and the weekly Initial Claims Report (Briefing.com consensus 240K). Both reports will be released at 8:30 ET.

Nasdaq Composite +18.0% YTD
Dow Jones Industrial Average +11.6% YTD
S&P 500 +10.5% YTD
Russell 2000 +2.9% YTD

Dow: -36.64… | Nasdaq: -18.13… | S&P: -0.90…

NASDAQ Adv/Dec 803/2025. …NYSE Adv/Dec 886/2043.

03:05PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.56% at 84.4150
Dollar index is currently down 0.11% at 93.55.
Sept WTI crude is higher on the day following EIA inventory data
Data showed a draw of 6.5 mln barrels.
Futures settled $0.50 lower to $49.59/barrel.
In other energy, Sept natural gas settled up $0.06 at $2.88/MMBtu
Precious metals performed well following news out of North Korea:
Dec gold gained $16.70 to settle at $1279.20/oz, while September silver gained $0.47 to $16.86/oz
September copper lost $0.01 to $2.93/lb
Finally, agriculture:
September corn settled $0.03 higher at $3.86/bu.
November soy settled flat at $9.73/bu.
September wheat settled up $0.02 at $4.59/bu.

Dow: +25.61… | Nasdaq: -36.02… | S&P: +4.08…

NASDAQ Adv/Dec 800/2048. …NYSE Adv/Dec 775/2157.

02:55PM ET

[BRIEFING.COM] The stock market is on track to post its second-consecutive loss moving into the final stretch. The benchmark S&P 500 is down 0.3%.

Kohl's (KSS 41.72, -1.11) and Macy's (M 22.81, -0.72) are both trading solidly lower, dropping 2.4% and 2.9%, respectively, ahead of their latest earnings reports, which will cross the wires tomorrow morning. Retailers have struggled in general today, pushing the SPDR S&P Retail ETF (XRT 40.42, -0.69) lower by 1.7%. The XRT is currently hovering right at its 50-day simple moving average (40.42).

Blue Apron (APRN 6.13, +0.32) will also report earnings on Thursday morning, marking its first earnings release since going public in late June. The company currently trades 38.7% below its IPO price of $10.00 per share.

Dow: -78.23… | Nasdaq: -41.25… | S&P: -8.01…

NASDAQ Adv/Dec 802/2040. …NYSE Adv/Dec 778/2165.

02:25PM ET

[BRIEFING.COM] The major averages have been ticking lower as of late with the S&P 500 extending its loss to 0.3%.

Defense Secretary Jim Mattis issued a statement on North Korea today, saying the hermit kingdom "should cease any consideration of actions that would lead to the end of its regime and the destruction of its people." President Trump issued a similar statement on Tuesday afternoon that prompted a modest sell off in the U.S. equity market.

U.S. Treasuries hover near their lowest marks of the day, but still trade in the green; the benchmark 10-yr yield is three basis points below its flat line at 2.25%. Meanwhile, gold continues to tick up in electronic trading after ending pit trade higher by 1.3% at a price of $1,279.20/ozt.

Dow: -75.75… | Nasdaq: -34.99… | S&P: -7.68…

NASDAQ Adv/Dec 848/1979. …NYSE Adv/Dec 779/2152.

01:55PM ET

[BRIEFING.COM] Small caps have struggled today, evidenced by the Russell 2000 (-0.8%), which sits quite a ways behind the benchmark S&P 500 (-0.2%).

Given that many small businesses in the U.S. have little to no international presence, their performance largely depends on the U.S. economy. Therefore, the small-cap Russell 2000 is often seen as a leading indicator, meaning that it tends to do well (or poorly) when the outlook for the U.S. economy is favorable (or bleak). Today's small-cap performance, then, hasn't done much to alleviate investor sentiment.

For the year, the Russell 2000 holds a gain of 3.1%, which is quite modest in comparison to the S&P 500's year-to-date advance of 10.3%.

Dow: -62.77… | Nasdaq: -24.31… | S&P: -5.09…

NASDAQ Adv/Dec 890/1935. …NYSE Adv/Dec 860/2061.

01:30PM ET

[BRIEFING.COM] The major U.S. indices remain under pressure in today's session as investors weigh escalated geopolitical tensions between North Korea and the United States.

A look inside the Dow Jones Industrial Average shows that Walt Disney (DIS 102.22, -4.76), Boeing (BA 235.23, -2.85), & Goldman Sachs (GS 230.00, -2.05) are underperforming. Disney is under pressure and weighing on the Dow after reporting mixed fiscal third quarter results and announcing that it would acquire majority ownership of BAMTech for $1.58 bln and end its distribution agreement with Netflix (NFLX 174.41, -3.95) for subscription streaming of new releases.

Conversely, Home Depot (HD 155.33, +1.98) is the best-performing Dow component as shares display relative strength in the face of broad weakness seen across the consumer discretionary sector.

With today's pullback, the DJIA is now down 0.3% this week.

Elsewhere, at the top of the hour, the Treasury's $23 bln 10-year auction drew a high yield of 2.25% on a bid-to-cover of 2.24.

Dow: -59.57… | Nasdaq: -25.54… | S&P: -4.51…

NASDAQ Adv/Dec 911/1919. …NYSE Adv/Dec 878/2023.

01:05PM ET

[BRIEFING.COM] A risk-off tone still lingers this afternoon following yesterday's verbal spat between the U.S. and North Korea, but it has definitely lessened since the opening bell. The major averages currently trade a tick below their best marks of the day with the S&P 500 showing a slim loss of 0.2%. Meanwhile, the Dow and the Nasdaq are lower by 0.3% and 0.4%, respectively.

The stock market's most recent bullish run hit a speed bump on Tuesday afternoon after President Trump warned that North Korea will be "met with fire and fury" if it continues to threaten nuclear action against the United States. Undeterred, Pyongyang said it's "carefully examining" a plan to strike the U.S. territory of Guam just hours later.

Investors have typically ignored the ongoing feud between the U.S. and North Korea, but yesterday's war of words held some extra weight following news that North Korea now has the ability to fit miniaturized nuclear warheads inside its missiles.

However, more than anything, yesterday's headlines provided a convenient excuse for investors to take some money off the table following the stock market's recent run to new record highs.

The benchmark S&P 500 opened Wednesday's session with a loss of around 0.5%, but quickly began trimming the decline. Sector movement has been fairly modest in general as eight of the S&P 500's eleven sectors currently hover within 0.2% of their flat lines. The financials (-0.5%), consumer discretionary (-0.7%), and telecom services (-0.4%) groups exhibit relative weakness.

Within the consumer discretionary space, Walt Disney (DIS 102.38, -4.60) and Netflix (NFLX 174.71, -3.68) are down 4.3% and 2.1%, respectively, after Disney announced that it will end its distribution agreement with Netflix in 2019 in favor of a new direct-to-consumer streaming strategy. In addition, Disney reported earnings, beating bottom-line estimates, but missing on revenues.

Safe-haven assets are higher across the board, as is the CBOE Volatility Index (VIX 11.58, +0.62), which has jumped 5.6% to a fresh one-month high. Gold is up 1.2% at $1,278.19/ozt, the Japanese yen has climbed 0.3% against the U.S. Dollar to 109.97, and the benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, is five basis points lower at 2.23%.

Reviewing Wednesday's economic data, which included second quarter Productivity and Unit Labor Costs, June Wholesale Inventories, and the weekly MBA Mortgage Applications Index:

The preliminary unit labor costs increased 0.6% during the second quarter, which was lower than the 1.5% increase that had been anticipated by the Briefing.com consensus. The preliminary productivity reading came in at +0.9% while the Briefing.com consensus expected an increase of 0.5%.
The key takeaway from the report, which also included revisions for the first quarter 2014 through the first quarter 2017, is that productivity continues to be weak, which is an impediment for an increased standard of living. In fact, with the revisions, it was shown that productivity decreased 0.1% in 2016, which is the first annual decrease since a 1.0% decrease in 1982.
June Wholesale Inventories increased 0.7% (Briefing.com consensus +0.6%). The prior month's reading was revised to +0.6% from +0.4%.
The key takeaway from the report is that there wasn't any progress in reducing the inventory-to-sales ratio, which would be helpful for wholesalers looking to gain some more pricing power.
The weekly MBA Mortgage Applications Index increased 3.0% to follow last week's 2.8% decrease.

Dow: -70.19… | Nasdaq: -27.51… | S&P: -5.19…

NASDAQ Adv/Dec 886/1914. …NYSE Adv/Dec 856/2040.

12:25PM ET

[BRIEFING.COM] The major U.S. indices enter the afternoon session at their best marks of the day. The Dow Jones Industrial Average is down 0.2%.

Aerospace and defense names like Lockheed Martin (LMT 304.52, +4.42), General Dynamics (GD 201.47, +2.67), and Raytheon (RTN 178.78, +3.98) are solidly higher today, sporting gains between 1.5% and 2.4%, following yesterday's back-and-forth between the U.S. and North Korea. President Trump warned that North Korea would be met with "fire and fury" if it continues to threaten nuclear action. North Korea responded with a threat to strike the U.S. territory of Guam.

In the bond market, U.S. Treasuries are still trading higher, but have come down from their best marks of the day. The benchmark 10-yr yield is down four basis points at 2.24% after hovering at 2.21% in early-morning action.

Dow: -49.17… | Nasdaq: -15.83… | S&P: -2.38…

NASDAQ Adv/Dec 977/1822. …NYSE Adv/Dec 933/1939.

12:00PM ET

[BRIEFING.COM] The major averages have ticked up since the last update with the S&P 500 trimming its loss to 0.1%.

Online real estate data company Zillow (ZG 43.02, -4.72) has been hammered today, dropping 9.7% to multi-month lows, despite reporting better than expected earnings and revenues and raising its guidance for the fiscal year. However, several firms are bullish on Zillow following its latest earnings release, including Needham and Canaccord Genuity, both of which raised the company's target price to $52 per share.

Meanwhile, in the currency market, the U.S. Dollar Index (93.49, +0.01) is trading flat today, hovering just a step above a 15-month low.

Dow: -49.55… | Nasdaq: -19.09… | S&P: -2.89…

NASDAQ Adv/Dec 946/1847. …NYSE Adv/Dec 867/1984.

11:25AM ET

[BRIEFING.COM] Equity indices have been trending sideways as of late; the S&P 500 (-0.3%) has drifted within a five-point range over the last hour of action.

Ten of the eleven sectors are currently trading in negative territory with real estate (+0.1%) being the lone advancer. Most groups trade in line with, or above, the benchmark index, but the financials (-0.5%) and consumer discretionary (-0.9%) spaces exhibit relative weakness. For the week, only three sectors--technology (+0.1%), consumer staples (+0.1%), and utilities (+0.3%)--are trading in the green.

Elsewhere, the CBOE Volatility Index (VIX 11.77, +0.81), which is often referred to as the "investor fear gauge", has jumped 7.0% to a one-month high following yesterday's verbal spat between the U.S. and North Korea. Despite today's advance, the VIX is still hovering at a historically-low level.

Dow: -71.74… | Nasdaq: -36.59… | S&P: -7.62…

NASDAQ Adv/Dec 800/1966. …NYSE Adv/Dec 791/2057.

10:55AM ET

[BRIEFING.COM] The major averages have trimmed their opening losses a bit this morning, but all three--the S&P 500 (-0.2%), the Dow (-0.3%), and the Nasdaq (-0.5%)--are still trading in negative territory.

At the bottom of the hour, the Energy Information Administration (EIA) reported a larger than expected decrease in U.S. crude stockpiles for the week ended August 4 (-6.5 million barrels actual vs -2.2 million consensus). However, gasoline inventories increased by 3.4 million barrels, signaling a possible slowdown in demand.

Crude oil held a modest gain of 0.4% going into the EIA release, but now trades lower by 0.1% at $49.15/bbl. The energy sector (unch), which typically moves in tandem with the price of crude oil, also slipped following the release, giving back all of its modest gain of 0.4%.

Dow: -62.41… | Nasdaq: -33.36… | S&P: -6.00…

NASDAQ Adv/Dec 834/1923. …NYSE Adv/Dec 819/1988.

10:40AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.44% at 84.3157.
Dollar index is currently up 0.03% at 93.67.
Sept WTI crude is higher on the day following EIA inventory data
Data showed a draw of 6.5 mln barrels.
Futures are $0.30 higher to $49.47/barrel.
In other energy, Sept natural gas is up $0.051 at $2.873/MMBtu
Precious metals are noticeably higher following North Korean news yesterday:
Dec gold gained $14.40 and trades at $1277.00/oz, while September silver is up $0.401 to $16.79/oz
September copper lost $0.002 to $9.405/lb
Finally, agriculture:
September corn is up $0.0075 at $3.845/bu.
November soy is down $0.045 at $9.6875/bu.
September wheat is up $0.01 at $4.58/bu.

Dow: +25.61… | Nasdaq: -30.56… | S&P: +4.08…

NASDAQ Adv/Dec 839`/1894. …NYSE Adv/Dec 887/1901.

10:00AM ET

[BRIEFING.COM] The stock market has ticked up since the last update, but the S&P 500 (-0.3%) is still trading below its flat line.

Just released, June Wholesale Inventories increased 0.7% (Briefing.com consensus +0.6%). The prior month's reading was revised to +0.6% from +0.4%.

Dow: -38.12… | Nasdaq: -38.14… | S&P: -5.86…

NASDAQ Adv/Dec 756/1923. …NYSE Adv/Dec 914/1802.

09:45AM ET

[BRIEFING.COM] The major averages opened Wednesday's session in negative territory with the S&P 500 showing a loss of 0.5%. The Nasdaq (-0.9%) has exhibited relative weakness in the opening minutes.

Most sectors are trading in the red, but, outside of the consumer discretionary space (-1.2%), losses have been fairly modest. Dow component Walt Disney (DIS 102.26, -4.72) is among the weakest names in the consumer discretionary group after announcing that it will end its distribution agreement with Netflix (NFLX 173.20, -5.05) in 2019 in favor of a new direct-to-consumer streaming strategy. The two companies are down 4.6% and 3.0%, respectively.

On the flip side, the energy sector (+0.4%) trades at the top of the leaderboard, thanks in part to crude oil's upbeat performance. The commodity is currently up 0.5% at $49.39/bbl ahead of this morning's release of the weekly EIA crude inventory report, which will cross the wires at 10:30 ET.

Dow: -70.93… | Nasdaq: -59.98… | S&P: -12.69…

NASDAQ Adv/Dec 690/1968. …NYSE Adv/Dec 726/1964.

09:13AM ET

[BRIEFING.COM] S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -46.00.

Equity markets are lower around the globe following yesterday's verbal spat between the U.S. and North Korea. The S&P 500 futures trade eight points, or 0.3%, below fair value.

Stocks slipped into negative territory on Tuesday afternoon after President Donald Trump warned that North Korea will be "met with fire and fury" if it continues to threaten nuclear action against the United States. More than anything, the headline gave investors a convenient excuse to take some money off the table following the stock market's recent run to new record highs.

Safe-haven assets are higher across the board amid this morning's risk-off tone with gold jumping 1.4% to $1,280.48/ozt, the Japanese yen climbing 0.6% against the U.S. Dollar to 109.69, and the benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, slipping seven basis points to 2.21%.

In U.S. corporate news, Walt Disney (DIS 100.98, -6.15) is down 5.8% in pre-market action after announcing that it will end its distribution agreement with Netflix (NFLX 171.70, -6.66) in 2019 in favor of a new direct-to-consumer streaming strategy. NFLX shares are also solidly lower, dropping 3.8%. Also of note, DIS reported better than expected earnings and worse than expected revenues.

Crude oil is trading higher by 0.9% at $49.60/bbl after the American Petroleum Institute (API) reported a draw of 7.8 million barrels on Tuesday evening. The Department of Energy will release its weekly inventory report, which often deviates sharply from the API reading, later this morning at 10:30 ET.

On the data front, the preliminary unit labor costs increased 0.6% during the second quarter, which was lower than the 1.5% increase that had been anticipated by the Briefing.com consensus. The preliminary productivity reading came in at +0.9% while the Briefing.com consensus expected an increase of 0.5%.

Also of note, the weekly MBA Mortgage Applications Index increased 3.0% to follow last week's 2.8% decrease.

Today's last economic report--June Wholesale Inventories (Briefing.com consensus +0.6%)--will cross the wires at 10:00 ET.

08:51AM ET

[BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -40.90.

The S&P 500 futures trade eight points, or 0.3%, below fair value.

Equity indices in the Asia-Pacific region ended Wednesday on a lower note while safe-haven assets saw some inflows after U.S. President Donald Trump warned that future threats from North Korea to the United States will be met with "fire and fury." In response, Korean People's Army spokesman said his country is considering striking Guam. Meanwhile, China's Foreign Ministry has called for both sides to avoid words or actions that could escalate the current situation. Reserve Bank of Australia Assistant Governor Christopher Kent said that continued Australian dollar strength would weigh on growth. Former Bank of Japan member Takahide Kiuchi said the BoJ could switch to targeting 3-5 yr yields instead of the 10-yr yield. He added that the Japanese government is not insisting on reaching CPI of 2.0%.

In economic data:
China's July PPI +5.5% year-over-year, as expected (last 5.5%). July CPI +0.1% month-over-month (expected 0.2%; last -0.2%); +1.4% year-over-year (consensus 1.5%; last 1.5%)
Japan's Machine Tool Orders +26.3% year-over-year (last 31.1%). M2 Money Stock +4.0% year-over-year (consensus 3.9%; last 3.9%)
South Korea's July Unemployment Rate 3.6% (expected 3.8%; last 3.8%)
Australia's August Westpac Consumer Sentiment -1.2% (last 0.4%). June Home Loans +0.5% month-over-month (expected 1.5%; last 1.1%) and June Invest Housing Finance +1.6% month-over-month (last -1.4%)

---Equity Markets---

Japan's Nikkei lost 1.3%. SUMCO fell 11.2% after reporting a sharp drop in year-over-year profit. Yokogawa Electric fell 9.7% while Olympus, Shin-Etsu Chemical, Daikin Industries, Secom, Nitto Denko, Tokyo Electron, Familymart, TDK, and Hitachi Construction lost between 1.9% and 7.0%. On the upside, Yamaha Motor, Ebara, Furukawa Electric, Yaskawa Electric, Suzuki Motor, and Central Japan Railway gained between 0.7% and 5.3%.
Hong Kong's Hang Seng shed 0.4%. Financials struggled with Ping An Insurance, Bank of China, China Construction Bank, Bank of Communications, China Life Insurance, HSBC, and BoC Hong Kong falling between 0.6% and 1.9%. Wharf Holdings surged 14.1% after announcing plans to spin-off its malls.
China's Shanghai Composite slipped 0.2%. Anhui Water Resources, Xiamen C&D, Pengqi Technology Development, Avic Aviation High-Technology, Fangda Carbon New Material, and Hubei kaile Science & Technology posted losses between 2.5% and 3.2%.
India's Sensex ended lower by 0.7%. Sun Pharma fell 5.1% while Dr. Reddy's Labs lost 2.6%. Tata Motors, Bajaj Auto, and Tata Steel posted losses between 1.8% and 3.2% while financials like AXIS Bank, ICICI Bank, HDFC Bank, and SBI surrendered between 0.5% and 2.1%.

Major European indices trade on a lower note with France's CAC (-1.7%) leading other markets lower. The overall direction of European equity markets has been influenced by cautious posturing in the wake of yesterday's comments from U.S. President Donald Trump, who said that future threats from North Korea to the United States will be met with "fire and fury." North Korea threatened to strike Guam in response. The euro (1.1736) shows a slight loss against the dollar while the pound (1.2990) trades flat against the greenback.

In economic data:
Italy's June Industrial Production +1.1% month-over-month (expected 0.2%; last 0.7%); +5.3% year-over-year (consensus 3.4%; last 2.7%)

---Equity Markets---

UK's FTSE is lower by 0.8% with most components on the defensive. Financials like Prudential, Standard Chartered, Direct Line Insurance, Standard Life, RBS, Barclays, Old Mutual, RSA Insurance, and HSBC are down between 1.3% and 2.9%. On the upside, select miners like Randgold Resources and Fresnillo are up 3.6% and 4.7%, respectively.
Germany's DAX has given up 1.4%. Deutsche Bank and Commerzbank are both down near 4.0% while Adidas, Lufthansa, Bayer, BASF, SAP, Volkswagen, Daimler, and BMW show losses between 1.2% and 2.7%.
France's CAC is down 1.7% with all 40 components in the red. Societe Generale, Credit Agricole, BNP Paribas, and AXA lead the slide with losses between 2.5% and 3.2%. Consumer names like Louis Vuitton, Vivendi, Kering, Pernod Ricard, and L'Oreal are down between 1.2% and 2.6%.

08:32AM ET

[BRIEFING.COM] S&P futures vs fair value: -11.00. Nasdaq futures vs fair value: -50.60.

The S&P 500 futures trade 11 points, or 0.4%, below fair value.

Just in, the preliminary unit labor costs increased 0.6% during the second quarter, which was lower than the 1.5% increase that had been anticipated by the Briefing.com consensus. The preliminary productivity reading came in at +0.9% while the Briefing.com consensus expected an increase of 0.5%.

08:05AM ET

[BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -43.90.

Tuesday's late-afternoon selling, which came in response to heightened North Korea-U.S. tensions, has carried over into pre-market action this morning. The S&P 500 futures currently trade ten points, or 0.4%, below fair value.

President Donald Trump warned on Tuesday afternoon that North Korea will be "met with fire and fury" if it continues to threaten nuclear action against the United States. Mr. Trump's comments came a few hours after the Washington Post reported that North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles. Pyongyang threatened to strike Guam in response.

To be clear, if investors believed conflict between the U.S. and North Korea was imminent, futures would be far lower than -0.4%. Rather, the aforementioned headlines have given investors an excuse to take some money off the table following the stock market's recent run to new record highs.

Safe-haven assets are higher across the board with gold jumping 1.0% to $1,275.56/ozt, the Japanese yen climbing 0.6% against the U.S. Dollar to 109.73, and the benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, slipping five basis points to 2.23%.

Meanwhile, crude oil is trading higher by 0.6% at $49.45/bbl after the American Petroleum Institute (API) reported a draw of 7.8 million barrels on Tuesday evening. The Department of Energy will release its weekly inventory report later this morning at 10:30 ET.

On the data front, investors will receive two economic reports--second quarter Productivity (Briefing.com consensus +0.5%) and Unit Labor Costs (Briefing.com consensus +1.5%) at 8:30 ET and June Wholesale Inventories (Briefing.com consensus +0.6%) at 10:00 ET. Also of note, the weekly MBA Mortgage Applications Index increased 3.0% to follow last week's 2.8% decrease.

In U.S. corporate news:

Walt Disney (DIS 102.81, -4.19): -3.9% after announcing that it will end its distribution agreement with Netflix (NFLX 171.25, -7.11) in 2019 in favor of a new direct-to-consumer streaming strategy.
Priceline (PCLN 1912.73, -136.27): -6.7% after below-consensus earnings guidance overshadowed better than expected earnings and revenues.
Monster Beverage (MNST 50.50, -2.13): -4.1% after missing bottom-line estimates.
Zillow (ZG 43.60, -4.14): -8.7% despite beating both top and bottom line estimates and issuing upbeat guidance.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a lower note. Japan's Nikkei -1.3%, Hong Kong's Hang Seng -0.4%, China's Shanghai Composite -0.2%, India's Sensex -0.7%.
In economic data:
China's July PPI +5.5% year-over-year, as expected (last 5.5%). July CPI +0.1% month-over-month (expected 0.2%; last -0.2%); +1.4% year-over-year (consensus 1.5%; last 1.5%)
Japan's Machine Tool Orders +26.3% year-over-year (last 31.1%). M2 Money Stock +4.0% year-over-year (consensus 3.9%; last 3.9%)
South Korea's July Unemployment Rate 3.6% (expected 3.8%; last 3.8%)
Australia's August Westpac Consumer Sentiment -1.2% (last 0.4%). June Home Loans +0.5% month-over-month (expected 1.5%; last 1.1%) and June Invest Housing Finance +1.6% month-over-month (last -1.4%)
In news:
Safe-haven assets saw some inflows after U.S. President Donald Trump warned that future threats from North Korea to the United States will be met with "fire and fury." In response, Korean People's Army spokesman said his country is considering striking Guam. Meanwhile, China's Foreign Ministry has called for both sides to avoid words or actions that could escalate the current situation.
Reserve Bank of Australia Assistant Governor Christopher Kent said that continued Australian dollar strength would weigh on growth.
Former Bank of Japan member Takahide Kiuchi said the BoJ could switch to targeting 3-5 yr yields instead of the 10-yr yield. He added that the Japanese government is not insisting on reaching CPI of 2.0%.

Major European indices trade on a lower note. UK's FTSE -0.8%, Germany's DAX -1.3%, France's CAC -1.7%.
In economic data:
Italy's June Industrial Production +1.1% month-over-month (expected 0.2%; last 0.7%); +5.3% year-over-year (consensus 3.4%; last 2.7%)
In news:
The overall direction of European equity markets has been influenced by cautious posturing in the wake of yesterday's comments from U.S. President Donald Trump, who said that future threats from North Korea to the United States will be met with "fire and fury." North Korea threatened to strike Guam in response.

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: -12.30. Nasdaq futures vs fair value: -47.50.
05:52AM ET

[BRIEFING.COM] Nikkei

...19739...-257.30

...-1.30%

Hang Seng

...27757...-97.80

...-0.40%

05:52AM ET

[BRIEFING.COM] FTSE

...7485.50...-57.20

...-0.80%

DAX

...12141.46...-150.60

...-1.20%

04:30PM ET

[BRIEFING.COM] Wall Street went on a bit of a roller coaster ride on Tuesday as equities climbed to new record highs in the morning only to drop into the red in the late afternoon. The Dow broke its streak of nine consecutive record-high closes, ending the session lower by 0.2%. The S&P 500 (-0.2%) and the Nasdaq (-0.2%) finished in line with the industrial average.

The major averages opened Tuesday's session with modest losses, but quickly entered into a slow and steady climb that carried into the afternoon. At its peak, the S&P 500 held a gain of 0.4%. However, shortly after hitting said peak, the benchmark index started moving back towards its flat line as the heavily-weighted financial sector, which led the morning rally, hit a wave of selling pressure.

Selling began shortly after the Washington Post reported that North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles. However, the aforementioned move lower was more likely technical in nature considering it was led by the financial sector, which sharply reversed its slow and steady upward trend right at the 424.00 mark. At its best mark of the day (423.99), the financial space held a gain of 0.9%, but, in the end, the sector settled lower by 0.2%.

After retreating to their flat lines, the major averages then hit another wave of selling pressure, this one dragging them into negative territory, in the late afternoon after President Trump warned that North Korea will be "met with fire and fury like the world has never seen" if it continues to threaten nuclear action against the United States.

Investors have had a muted response to each of Pyongyang's 11 ballistic missile tests this year, but today's strong statement from Mr. Trump clearly upped the ante a bit. Still, today's move was very minor in the grand scheme of things and comes at a time when many investors are looking for an excuse to sell as equities hover at all-time highs.

The lightly-weighted utilities sector (+0.3%) was the only space to finish today's session in positive territory. The ten remaining groups settled with losses ranging from less than 0.1% to 0.9%.

Apple (AAPL 160.08, +1.27)--the largest component in the S&P 500 by market cap--put together a solid performance, helping the top-weighted technology sector (-0.1%) settle ahead of the broader market. The tech group held the top spot on today's leaderboard for much of the session, but slipped with the broader market in its late-afternoon slide. AAPL shares added 0.8% and closed at an all-time high.

On the earnings front, Michael Kors (KORS 42.25, +8.02) and Ralph Lauren (RL 88.53, +10.38) surged 21.5% and 13.3%, respectively, after both companies reported better than expected earnings. In addition, Michael Kors beat top-line estimates and issued above-consensus guidance. However, the SPDR S&P 500 Retail ETF (XRT 41.11, -0.22) still finished lower by 0.5%.

Treasuries moved lower in a curve-steepening trade, leaving the 2-yr yield (1.36%) and the 10-yr yield (2.28%) higher by one basis point and three basis points, respectively. Meanwhile, the U.S. Dollar Index (93.52, +0.22) climbed 0.2% and crude oil dropped 0.6% to $49.09/bbl.

Reviewing today's economic data, which was limited to the Job Openings and Labor Turnover Survey (JOLTS) for June:

The June Job Openings and Labor Turnover Survey showed that job openings increased to 6.163 million from a revised 5.702 million (from 5.666 million) in May.

On Wednesday, investors will receive several economic reports, including the weekly MBA Mortgage Applications Index at 7:00 ET, second quarter Productivity (Briefing.com consensus +0.5%) and Unit Labor Costs (Briefing.com consensus +1.5%) at 8:30 ET, and June Wholesale Inventories (Briefing.com consensus +0.6%) at 10:00 ET.

Nasdaq Composite +18.3% YTD
Dow Jones Industrial Average +11.8% YTD
S&P 500 +10.6% YTD
Russell 2000 +3.9% YTD

Dow: -33.08… | Nasdaq: -13.31… | S&P: -5.99…

NASDAQ Adv/Dec 1210/1579. …NYSE Adv/Dec 1061/1844.

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
Online user name wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
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