TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 7:45 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: August 17th Thursday Trade Results - Profits $2062.50
PostPosted: Thu Aug 17, 2017 11:00 pm 
Offline
Site Admin

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

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
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:
081717-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2062.50.png
081717-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2062.50.png [ 97.3 KiB | Viewed 227 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 @ $2062.50 dollars or +41.25 points, Light Crude Oil CL ($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 @ $2062.50 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 even though the free chat room is not design to be an education chat room because the education is only performed at the forums in the private threads. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=170&t=2625

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. In addition, we highly recommend that you use the free chat room with a professional trade journal software like tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because they can provide you with the quantitative statistical analysis of your trading. You can then download your results and post them in your private thread at the forum. 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, many different mobile apps and many different types of social media software can be used to log in. I'm the moderator of the free chat room via the user name wrbtrader. Thus, I keep the peace between members without hesitation in removing trouble makers so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled.

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:
081717-Key-Price-Action-Markets.png
081717-Key-Price-Action-Markets.png [ 1.02 MiB | Viewed 231 times ]

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

The Market at 04:30PM ET
Dow: -274.14… | Nasdaq: -123.19… | S&P: -38.10…
NASDAQ Vol: 2.02 bln… Adv: 682… Dec: 2089…
NYSE Vol: 767.0 mln… Adv: 518… Dec: 2430…

Moving the Market

Stocks still lower following rumor that Gary Cohn intends to step down as NEC Director; White House says rumor is false

Dow components Wal-Mart (WMT) and Cisco Systems (CSCO) slide following earnings

Top-weighted information technology sector underperforms amid broad weakness

Sector Watch
Strong: Health Care, Consumer Staples, Utilities, Real Estate
Weak: Technology, Industrials
04:30PM ET

[BRIEFING.COM] Equities fell to heavy selling pressure on Thursday, dragging the major U.S. indices into negative territory for the week. The tech-heavy Nasdaq was hit the hardest, dropping 1.9%, as technology stocks underperformed. Meanwhile, the S&P 500 and the Dow settled with losses of 1.5% and 1.2%, respectively. For the week, the S&P 500 holds a loss of 0.5%.

The major indices opened Thursday's session with modest losses, but moved deeper into negative territory following a rumor that President Trump's chief economic advisor Gary Cohn plans to resign from his position as the Director of the National Economic Council. The White House later declared that the rumor was "100% false", but it did little to reverse the market's downward trend.

Reports indicate that Mr. Comey--who is seen as a key driver of Mr. Trump's economic agenda--is frustrated about comments from President Trump regarding last weekend's events in Charlottesville, VA. True or not, Thursday's rumor underlined the notion that President Trump's pro-growth agenda could be dead on arrival in Congress if lawmakers find it to be a political liability to work with the president.

However, it's also important to remember that many investors are looking for excuses to pull out of a market that just registered yet another record high a little more than a week ago on August 7. Following Thursday's slide, the Dow, the S&P 500, and the Nasdaq hover 1.7%, 2.1%, and 3.1%, respectively, below their record-high closing levels.

It's also worth pointing out that a van plowed into a crowd of people in Barcelona on Thursday, killing 13 and injuring more than 50. Local police deemed the incident a terrorist attack. While events similar to this one haven't prompted selling in the equity market so far this year, today's attack certainly didn't help the already bearish sentiment on Wall Street.

All 11 sectors finished Thursday's session in negative territory with the top-weighed technology sector (-2.0%) leading the retreat. Cisco Systems (CSCO 31.04, -1.30) was one of the tech sector's weakest components, dropping 4.0%, despite hitting both top and bottom line estimates. Chipmakers also showed notable weakness, pushing the PHLX Semiconductor Index lower by 2.6%.

The industrial sector also finished behind the broader market, losing 1.7%, as transports weighed, evidenced by the 2.4% decrease in the Dow Jones Transportation Average. Airlines led the transport retreat, pushing the US Global Jets ETF (JETS 29.02, -1.00) lower by 3.3%.

On the flip side, four sectors--health care (-1.3%), consumer staples (-0.9%), utilities (-0.8%), and real estate (-0.7%)--finished ahead of the broader market. Within the consumer staples group, Wal-Mart (WMT 79.70, -1.28) showed relative weakness, dropping 1.6%, despite reporting better than expected earnings.

In the bond market, Treasuries held losses in early-morning action, but began climbing as the equity market weakened. The benchmark 10-yr yield traded as high as 2.25%, but ended the day three basis points below its flat line at 2.20%.

Reviewing Thursday's economic data, which included the weekly Initial Claims Report, the August Philadelphia Fed Index, the July Industrial Production & Capacity Utilization Report, and the Conference Board's Leading Economic Index for July:

The latest weekly initial jobless claims count totaled 232,000 while the Briefing.com consensus expected a reading of 240,000. Today's tally was below the unrevised prior week count of 244,000. As for continuing claims, they declined to 1.953 million from the revised count of 1.956 million (from 1.951 million).
There are no new takeaways from those data series, which continue reflecting a tight labor market.
The Philadelphia Fed Survey for August declined to 18.9 from an unrevised 19.5 in July while economists polled by Briefing.com had expected a reading of 17.0.
The key takeaway from the report is that it showed a rebound in new orders after July figures hinted at a weak start to the third quarter.
Industrial Production increased 0.2% in July (Briefing.com consensus 0.3%) while Capacity Utilization was unchanged at 76.7% (Briefing.com consensus 76.7%) from a revised reading of 76.7% in June (from 76.6%).
The key takeaway from the report is that factory output in July remained at levels seen in February. The lack of significant change in capacity utilization suggests that the resource slack will persist, tempering inflation expectations.
The Conference Board's Leading Indicators report for July increased 0.3% (Briefing.com consensus 0.3%) after moving higher by an unrevised 0.6% in June.

On Friday, investors will receive just one economic report--the preliminary reading of the University of Michigan Consumer Sentiment Index for August (Briefing.com consensus 94.0). The report will cross the wires at 10:00 ET.

Nasdaq Composite +15.6% YTD
Dow Jones Industrial Average +10.1% YTD
S&P 500 +8.5% YTD
Russell 2000 +0.1% YTD

Dow: -274.14… | Nasdaq: -123.19… | S&P: -38.10…

NASDAQ Adv/Dec 682/2089. …NYSE Adv/Dec 518/2430.

03:20PM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.12% at 82.6799
Dollar index is currently up 0.06% at 93.60.
Sept WTI crude is higher on the day.
Futures settled $0.28 higher to $47.08/barrel.
In other energy,
Natural gas inventory showed a build of 53 bcf vs a build of 28 bcf in the prior week.
Sept natural gas settled up $0.04 at $2.93/MMBtu
Metals performed better well with precious metals and copper settling higher
Dec gold gained $9.50 to settle at $1292.30/oz, while September silver gained $0.12 to $17.06/oz
September copper lost $0.01 to $2.94/lb
Finally, agriculture:
September corn is $0.03 lower at $XXX/bu.
November soy is higher $0.07 at $9.34/bu.
September wheat is down $0.05 at $4.15/bu.

Dow: -207.1… | Nasdaq: -103.48… | S&P: -30.04…

NASDAQ Adv/Dec 700/2135. …NYSE Adv/Dec 619/2301.

02:55PM ET

[BRIEFING.COM] The major averages enter the final hour of action at their worst marks of the day. The S&P 500 currently holds a loss of 1.1%.

On the earnings front, three notable companies--Applied Materials (AMAT 43.42, -1.03), Ross Stores (ROST 53.66, -0.71), and Gap (GPS 22.89, +0.32)--will report their quarterly results tonight and then another two--Deere (DE 123.99, -2.64) and Estee Lauder (EL 99.61, -1.41)--will step up to the plate tomorrow morning.

As for economic data, investors will receive just one report on Friday--the preliminary reading of the University of Michigan Consumer Sentiment Index for August (Briefing.com consensus 94.0). The report will cross the wires at 10:00 ET.

Dow: -189.19… | Nasdaq: -92.37… | S&P: -27.17…

NASDAQ Adv/Dec 752/2102. …NYSE Adv/Dec 693/2215.

02:30PM ET

[BRIEFING.COM] The major averages have ticked down in recent action, hitting fresh session lows. The Nasdaq (-1.4%) trades a step behind the benchmark S&P 500 (-1.1%) while the Dow (-0.9%) trades a step ahead.

All eleven sectors are trading in the red with losses ranging from 0.3% to 1.4%. The technology (-1.4%) and industrials (-1.2%) spaces show relative weakness while the health care (-0.8%), consumer staples (-0.6%), utilities (-0.5%), and real estate (-0.3%) groups show relative strength.

In the bond market, Treasuries are higher across the curve, hovering near their best levels of the day. The benchmark 10-yr yield is down three basis points at 2.20%.

Dow: -191.92… | Nasdaq: -88.05… | S&P: -25.86…

NASDAQ Adv/Dec 751/2109. …NYSE Adv/Dec 670/2233.

02:00PM ET

[BRIEFING.COM] Equity indices continue trading near their worst marks of the day with the S&P 500 showing a loss of 1.0%.

Transports are setting the pace for today's retreat, sending the Dow Jones Transportation Average lower by 1.8%. Airlines are among the weakest components in the DJTA with names like JetBlue Airways (JBLU 20.79, -1.03), American Airlines (AAL 46.33, -2.08), Alaska Air (ALK 80.93, -2.88), Delta Air Lines (DAL 48.45, -1.68), and Southwest Air (LUV 53.59, -1.72) showing losses between 3.1% and 4.7%.

The US Global Jets ETF (JETS 29.22, -0.79) has dropped 2.7% in today's session, continuing its bearish four-week trend. JETS shares have dropped 10.5% since July 17 and currently hover at their worst level since early May.

Dow: -183.07… | Nasdaq: -82.61… | S&P: -24.84…

NASDAQ Adv/Dec 761/2081. …NYSE Adv/Dec 686/2201.

01:35PM ET

[BRIEFING.COM] The major U.S. indices are under meaningful pressure at this time, with stocks resting just north of their session lows amid a series of factors, the latest being a terrorist attack in Barcelona, Spain that has reportedly lead to at least 13 fatalities.

A look inside the Dow Jones Industrial Average shows that Cisco (CSCO 30.90, -1.44), Wal-Mart (WMT 79.29, -1.69), & Goldman Sachs (GS 221.91, -3.70) are underperforming. Cisco is the Dow's biggest laggard after reporting its fiscal fourth quarter results. Wal-Mart also reported quarterly results.

Conversely, Procter & Gamble (PG 92.56, +0.12) is the best-performing Dow component following positive commentary from analysts at Jefferies in light of the company's ongoing battle with activist Nelson Peltz.

Taking into account today's pullback, the DJIA is now in negative territory for the week.

Dow: -175.30… | Nasdaq: -84.36… | S&P: -23.79…

NASDAQ Adv/Dec 755/2067. …NYSE Adv/Dec 685/2184.

01:05PM ET

[BRIEFING.COM] The bears have been in control of Thursday's session from the jump and have continued building their influence, leaving the major averages at their session lows at midday. The Nasdaq, the S&P 500, and the Dow currently show losses of 1.4%, 1.0%, and 0.8%, respectively.

Equity indices extended their modest opening losses following rumors that President Trump's chief economic advisor Gary Cohn plans to resign. The White House later issued a statement saying that the rumors were 100% false, but the major averages failed to retrace their initial moves and eventually slipped a bit farther, hitting new session lows.

All eleven sectors are trading in negative territory with the top-weighted technology group (-1.2%) leading the retreat. Cisco Systems (CSCO 31.04, -1.30) is one of the weakest components within the tech group, dropping 4.1%, despite hitting top and bottom line estimates in its most recent earning report.

Similarly, Wal-Mart (WMT 79.22, -1.76) has dropped 2.2% after reporting better than expected earnings and in-line revenues. However, the consumer staples sector (-0.3%), which houses the big-box retailer, has managed to keep ahead of the broader market. The health care (-0.6%), utilities (-0.4%), and real estate (-0.1%) sectors also exhibit relative strength.

U.S. Treasuries were trading lower in early-morning action, but began climbing as the equity market weakened. The benchmark 10-yr yield traded as high as 2.25%, but currently trades two basis points below its flat line at 2.21%. Meanwhile, the U.S. Dollar Index (93.53, +0.12) is up 0.1%, clinging on to a small portion of its earlier gain of 0.6%.

The euro (1.1742) showed notable weakness against the U.S. dollar earlier today after the July ECB minutes indicated a desire among policymakers to continue on the current path of very substantial accommodation. However, the single currency has since made up some ground against the greenback, trimming its loss to 0.2%.

Reviewing Thursday's economic data, which included the weekly Initial Claims Report, the August Philadelphia Fed Index, the July Industrial Production & Capacity Utilization Report, and the Conference Board's Leading Economic Index for July:

The latest weekly initial jobless claims count totaled 232,000 while the Briefing.com consensus expected a reading of 240,000. Today's tally was below the unrevised prior week count of 244,000. As for continuing claims, they declined to 1.953 million from the revised count of 1.956 million (from 1.951 million).
There are no new takeaways from those data series, which continue reflecting a tight labor market.
The Philadelphia Fed Survey for August declined to 18.9 from an unrevised 19.5 in July while economists polled by Briefing.com had expected a reading of 17.0.
The key takeaway from the report is that it showed a rebound in new orders after July figures hinted at a weak start to the third quarter.
Industrial Production increased 0.2% in July (Briefing.com consensus 0.3%) while Capacity Utilization was unchanged at 76.7% (Briefing.com consensus 76.7%) from a revised reading of 76.7% in June (from 76.6%).
The key takeaway from the report is that factory output in July remained at levels seen in February. The lack of significant change in capacity utilization suggests that the resource slack will persist, tempering inflation expectations.
The Conference Board's Leading Indicators report for July increased 0.3% (Briefing.com consensus 0.3%) after moving higher by an unrevised 0.6% in June.

Dow: -175.66… | Nasdaq: -84.25… | S&P: -24.67…

NASDAQ Adv/Dec 839/1990. …NYSE Adv/Dec 753/2109.

12:25PM ET

[BRIEFING.COM] The major U.S. indices have slipped to new session lows in recent action with the tech-heavy Nasdaq extending its loss to 1.0%.

Technology stocks continue to face heavy selling pressure this afternoon, sending the top-weighted technology sector lower by 1.1%. Just about all of the tech sector's components are trading in negative territory with mega-cap names like Apple (AAPL 158.73, -2.20), Facebook (FB 168.31, -1.73), and Microsoft (MSFT 72.99, -0.65) showing respective losses of 1.4%, 1.0%, and 0.9%.

Chipmakers have also struggled, evidenced by the 1.4% decrease in the PHLX Semiconductor Index. Analog Devices (ADI 78.26, -1.80) shows notable weakness, losing 2.3%.

Dow: -138.38… | Nasdaq: -65.15… | S&P: -18.80…

NASDAQ Adv/Dec 923/1900. …NYSE Adv/Dec 856/1975.

12:05PM ET

[BRIEFING.COM] The Dow Jones Industrial Average is currently down 0.5%, putting its four-session winning streak in jeopardy.

Within the Dow, Cisco Systems (CSCO 31.09, -1.26) and Wal-Mart (WMT 79.27, -1.73) are the weakest components, dropping 3.9% and 2.2%, respectively, following their latest earnings releases. Cisco's quarterly report met expectations while Walmart's showed better than expected earnings. At the opposite end of the Dow leaderboard, McDonald's (MCD 159.34, +0.44) and Walt Disney (DIS 102.30, +0.11) are trading higher by 0.3% and 0.1%, respectively.

It's also worth pointing out that a van crashed into dozens of people in Barcelona earlier this morning. Police say several people have been injured.

Dow: -124.00… | Nasdaq: -51.76… | S&P: -15.77…

NASDAQ Adv/Dec 1035/1762. …NYSE Adv/Dec 949/1857.

11:35AM ET

[BRIEFING.COM] Equity indices are hovering near their recent levels with the Nasdaq (-0.7%) showing relative weakness.

The White House issued an official statement earlier this morning, saying that President Trump's chief economic advisor Gary Cohn intends to remain in his position as the Director of the National Economic Council. The statement was preceded by rumors that Mr. Cohn intends to step down from his post. Equities slipped following the rumors, but have not reacted much to the White House's statement.

U.S. Treasuries were trading lower in early-morning action, but have since ticked up into the green. The benchmark 10-yr yield is currently one basis point lower at 2.22%.

Dow: -91.99… | Nasdaq: -47.74… | S&P: -13.11…

NASDAQ Adv/Dec 1038/1726. …NYSE Adv/Dec 1058/1723.

11:00AM ET

[BRIEFING.COM] Equity indices slid to new sessions lows earlier this morning on a rumor that President Trump's chief economic advisor Gary Cohn has resigned. However, Axios reporter Johnathon Swan says that rumor is false, according to a source he claims has direct knowledge. The major averages are still trading near their lowest marks of the morning with the S&P 500 showing a loss of 0.5%.

The top-weighted technology sector (-1.0%) is hovering at the very bottom of today's leaderboard as nearly all of its components are currently trading in the red. Cisco Systems (CSCO 31.04, -1.32) is one of the sector's weakest components, tumbling 4.0% despite hitting both top and bottom line estimates in its latest earnings report. Despite today's tumble, the tech group holds a week-to-date gain of 1.1%.

In total, ten of the eleven groups are currently trading in negative territory. Like technology, the financial sector (-0.7%) trades behind the benchmark index. On the flip side, the consumer staples (-0.1%), utilities (-0.2%), and real estate (unch) groups show relative strength.

Dow: -103.75… | Nasdaq: -46.53… | S&P: -12.89…

NASDAQ Adv/Dec 1089/1667. …NYSE Adv/Dec 1011/1753.

10:40AM ET

[BRIEFING.COM] Commodities begin the day flat:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently flat at 82.5388
Dollar index is currently up 0.21% at 93.74.
Sept WTI crude is up on the day.
Futures are $0.11 higher to $46.89/barrel.
In other energy, Sept natural gas are moving high following EIA nat gas data
Natural gas inventory showed a build of 53 bcf vs a build of 28 bcf in the prior week.
Sept Natural Gas futures are up $0.018 at $2.908/MMBtu
On to metals:
Dec gold gained $6.30 and trades at $1289.20/oz, while Sept silver gained $0.11 to $17.05/oz
Sept copper lost $0.0205 to $2.933/lb
Finally, agriculture:
Sept corn is down $0.02 at $3.645/bu.
Nov soy is up $0.055 at $9.3075/bu.
Sept wheat is down $0.045 at $4.1475/bu.

Dow: -107.62… | Nasdaq: -51.28… | S&P: -13.25…

NASDAQ Adv/Dec 954/1770. …NYSE Adv/Dec 917/1814.

10:00AM ET

[BRIEFING.COM] The benchmark S&P 500 has ticked down a bit, extending its loss to 0.3%.

Just in, the Conference Board's Leading Indicators report for July increased 0.3% (Briefing.com consensus 0.3%) after moving higher by an unrevised 0.6% in June.

Dow: -78.40… | Nasdaq: -20.03… | S&P: -6.64…

NASDAQ Adv/Dec 1233/1373. …NYSE Adv/Dec 1240/1399.

09:40AM ET

[BRIEFING.COM] The major averages opened Thursday's session in the red with the S&P 500 showing a modest loss of 0.2%.

Nearly all sectors are trading lower this morning, but losses have been modest thus far with no group holding a loss of more than 0.4%. The top-weighted technology sector (-0.4%) is currently the weakest group while the lightly-weighted real estate space (+0.1%) is the strongest. The health care sector (unch) also shows relative strength.

U.S. Treasuries are trading slightly lower ahead of today's last economic report--the Conference Board's Leading Economic Index for July (Briefing.com consensus 0.3%)--which will be released shortly at 10:00 ET. The benchmark 10-yr yield is up one basis point at 2.23%.

Dow: -64.00… | Nasdaq: -19.91… | S&P: -5.84…

NASDAQ Adv/Dec 1047/1439. …NYSE Adv/Dec 909/1652.

09:16AM ET

[BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -29.50.

It appears that the equity market will give back yesterday's modest advance at Thursday's opening bell as the S&P 500 futures currently trade eight points, or 0.3%, below fair value.

In earnings news, Wal-Mart (WMT 78.67, -2.31) has dropped 2.9% in pre-market action despite beating bottom-line estimates. Similarly, Cisco Systems (CSCO 31.45, -0.89) is lower by 2.8% despite reporting in-line earnings and revenues. L Brands (LB 36.41, -3.14) is also lower, sliding 7.9%, after issuing below-consensus guidance.

Conversely, Chinese e-commerce giant Alibaba (BABA 168.72, +9.32) has jumped 5.9% after beating both top and bottom line estimates. Barring a sharp shift in sentiment, BABA shares will open today's session at a new all-time high.

U.S. Treasuries are trading lower this morning, giving back a portion of yesterday's rally, with the benchmark 10-yr yield climbing two basis points to 2.24%. Meanwhile, the U.S. dollar has jumped 0.6% against the euro to 1.1695. The euro hit a session low of 1.1662 against the dollar in response to the July ECB minutes, which indicated desire among policymakers to continue on the current path of very substantial accommodation.

Investors have received several economic reports this morning, including the weekly Initial Claims Report, the August Philadelphia Fed Index, and the July Industrial Production & Capacity Utilization Report:

The latest weekly initial jobless claims count totaled 232,000 while the Briefing.com consensus expected a reading of 240,000. Today's tally was below the unrevised prior week count of 244,000. As for continuing claims, they declined to 1.953 million from the revised count of 1.956 million (from 1.951 million).
The Philadelphia Fed Survey for August declined to 18.9 from an unrevised 19.5 in July while economists polled by Briefing.com had expected a reading of 17.0.
Industrial Production increased 0.2% in July (Briefing.com consensus 0.3%) while Capacity Utilization was unchanged at 76.7% (Briefing.com consensus 76.7%) from a revised reading of 76.7% in June (from 76.6%).

Today's last economic report--the Conference Board's Leading Economic Index for July (Briefing.com consensus 0.3%)--will be released at 10:00 ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -24.90.

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

Equity indices in the Asia-Pacific region ended Thursday on a mixed note. South Korea's President Moon Jae-In said there should be no war on the Korean peninsula and that the United States promised to seek South Korea's approval before taking action against North Korea. Economic data from Australia showed the fifth consecutive increase in employment, but the Australian dollar surrendered its post-data gain.

In economic data:
Japan's July trade surplus JPY340 billion (expected surplus of JPY190 billion; last surplus of JPY900 million. July Imports +16.3% year-over-year (expected 17.0%; last 15.5%) and July Exports +13.4% year-over-year (consensus 13.6%; previous 9.7%)
Australia's July Employment Change 27,900 (expected 20,000; last 20,000) and Full Employment Change -20,300 (last 69,300). July Participation Rate 65.1% (expected 65.0%; last 65.0%) and Unemployment Rate 5.6% (consensus 5.6%; last 5.7%)
New Zealand Q2 Input PPI +1.4% quarter-over-quarter (last 0.8%) and Output PPI +1.3% (last 1.4%)
Singapore's July trade surplus SGD5.50 billion (last SGD6.40 billion). July Non-Oil Exports -2.5% month-over-month (expected -0.4%; last -2.2%); +8.5% year-over-year (consensus 9.9%; last 8.8%)
Hong Kong's July Unemployment Rate held at 3.1%

---Equity Markets---

Japan's Nikkei shed 0.1%. Trend Micro, Nippon Meat Packers, Asahi Glass, Sony Financial Holdings, Fuji Heavy Industries, Hitachi Construction, and Kikkoman lost between 0.9% and 2.1%. On the flip side, Japan Steel Works, Ricoh, DeNA, Konami, Nippon Electric Glass, Haseko, and Kyocera advanced between 1.1% and 5.8%.
Hong Kong's Hang Seng shed 0.2% amid losses in just over half of its components. Financials and property names like AIA Group, Swire Pacific, Cheung Kong Property Holdings, BoC Hong Kong, Hang Lung Properties, Bank of East Asia, HSBC, and ICBC lost between 0.7% and 2.0%. On the upside, gaming and casino names like Tencent Holdings, Galaxy Entertainment, and Sands China added between 1.0% and 2.3%.
China's Shanghai Composite climbed 0.7%. China CSSC Holdings, Furen Pharmaceutical, Shanxi Coking, Tibet Summit Resources, and Tianjin Realty Development advanced between 6.0% and 10.0%.
India's Sensex added 0.1%, stringing together its third consecutive advance. Infosys surged 4.5% after the company said its Board of Directors will consider buying back shares. Peers Wipro and Tata Consultancy both lost 0.4%. Coal India, NTPC, Bharti Airtel, and GAIL climbed between 1.1% and 4.2%.

Major European indices trade on a lower note, but losses have been limited through the first half of action. Reports indicate that Brexit talks will be suspended until December to allow Germany to form its government after the federal election on September 24. The euro hit a session low of 1.1662 against the dollar in response to July ECB minutes, which indicated desire among policymakers to continue on the current path of very substantial accommodation.

In economic data:
Eurozone June trade surplus expanded to EUR26.60 billion from EUR21.40 billion (expected surplus of EUR22.90 billion). July CPI -0.5% month-over-month, as expected (last 0.0%); +1.3% year-over-year, as expected (last 1.3%). July Core CPI -0.6% month-over-month (last 0.2%); +1.2% year-over-year, as expected (last 1.2%)
UK's July Retail Sales +0.3% month-over-month (expected 0.2%; last 0.3%); +1.3% year-over-year (consensus 1.4%; last 2.8%). Core Retail Sales +0.5% month-over-month (expected 0.2%; last 0.6%); +1.5% year-over-year (consensus 1.3%; last 2.8%)
France's Q2 Unemployment Rate ticked down to 9.5% from 9.6%

---Equity Markets---

UK's FTSE is down 0.4%. Hikma Pharmaceuticals has slumped 7.8% after lowering its outlook. Kingfisher is down 5.3% after earnings while other consumer names like British American Tobacco, Compass, Paddy Power, Tesco, Merlin Entertainments, and InterContinental Hotels are down between 0.3% and 1.7%. On the upside, homebuilders Barratt Developments, Taylor Wimpey, and Persimmon show gains between 0.4% and 0.7%.
France's CAC is lower by 0.3% with financials on the defensive. Societe Generale, Credit Agricole, BNP Paribas, and AXA are down between 1.2% and 1.9%. Energy names Total and TechnipFMC are both down near 0.7% while select consumer names outperform. Kering, Louis Vuitton, and L'Oreal have added between 0.4% and 0.8%.
Germany's DAX has shed 0.2%. Deutsche Bank is the weakest performer, falling 3.1% while other heavyweights like Commerzbank, Thyssenkrupp, SAP, Allianz, Siemens, BASF, and Merck show losses between 0.2% and 1.9%. On the upside, RWE trades up 2.3% and E.ON has added 0.8%.


08:35AM ET

[BRIEFING.COM] S&P futures vs fair value: -7.00. Nasdaq futures vs fair value: -29.80.

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

Just in, the latest weekly initial jobless claims count totaled 232,000 while the Briefing.com consensus expected a reading of 240,000. Today's tally was below the unrevised prior week count of 244,000. As for continuing claims, they declined to 1.953 million from the revised count of 1.956 million (from 1.951 million).

Separately, the Philadelphia Fed Survey for August declined to 18.9 from an unrevised 19.5 in July while economists polled by Briefing.com had expected a reading of 17.0.

07:58AM ET

[BRIEFING.COM] S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -23.50.

Investors have lacked conviction over the last couple of sessions, leaving the equity market little changed since Monday's rally. It looks like Wall Street might be in for more of the same this morning following a relatively quiet overnight session. The S&P 500 futures currently trade five points, or 0.2%, below fair value.

Yesterday, the minutes from the July FOMC meeting showed that Fed officials are growing increasingly concerned about softer than expected inflation readings, but they still remain in favor of announcing a balance sheet move at the upcoming policy meeting. The possibility of a December rate hike is still a coin toss with the fed funds futures market pricing in an implied probability of 46.8%.

U.S. Treasuries are trading slightly lower this morning, giving back a small portion of yesterday's rally, with the benchmark 10-yr yield climbing one basis point to 2.24%. Meanwhile, the U.S. Dollar Index (93.81, +0.40) is trading 0.4% higher, extending its week-to-date gain to 1.0%. The greenback is currently up 0.5% against the euro at 1.1705.

On the data front, investors will receive a slew of economic reports, including the weekly Initial Claims Report (Briefing.com consensus 240K) at 8:30 ET, the August Philadelphia Fed Index (Briefing.com consensus 17) also at 8:30 ET, the July Industrial Production (Briefing.com consensus 0.3%) and Capacity Utilization (Briefing.com consensus 76.7%) Report at 9:15 ET, and the Conference Board's Leading Economic Index for July (Briefing.com consensus 0.3%) at 10:00 ET.

In U.S. corporate news:

Wal-Mart (WMT 79.35, -1.63): -2.0% despite beating bottom-line estimates.
Cisco (CSCO 31.65, -0.69): -2.1% despite reporting in-line earnings and revenues.
Alibaba (BABA 171.43, +12.03): +7.6% after beating both top and bottom line estimates.
L Brands (LB 36.99, -2.56): -6.5% after issuing below-consensus guidance.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a mixed note. Japan's Nikkei -0.1%, Hong Kong's Hang Seng -0.2%, China's Shanghai Composite +0.7%, India's Sensex +0.1%.
In economic data:
Japan's July trade surplus JPY340 billion (expected surplus of JPY190 billion; last surplus of JPY900 million. July Imports +16.3% year-over-year (expected 17.0%; last 15.5%) and July Exports +13.4% year-over-year (consensus 13.6%; previous 9.7%)
Australia's July Employment Change 27,900 (expected 20,000; last 20,000) and Full Employment Change -20,300 (last 69,300). July Participation Rate 65.1% (expected 65.0%; last 65.0%) and Unemployment Rate 5.6% (consensus 5.6%; last 5.7%)
New Zealand Q2 Input PPI +1.4% quarter-over-quarter (last 0.8%) and Output PPI +1.3% (last 1.4%)
Singapore's July trade surplus SGD5.50 billion (last SGD6.40 billion). July Non-Oil Exports -2.5% month-over-month (expected -0.4%; last -2.2%); +8.5% year-over-year (consensus 9.9%; last 8.8%)
Hong Kong's July Unemployment Rate held at 3.1%
In news:
South Korea's President Moon Jae-In said there should be no war on the Korean peninsula and that the United States promised to seek South Korea's approval before taking action against North Korea.
Economic data from Australia showed the fifth consecutive increase in employment, but the Australian dollar surrendered its post-data gain.

Major European indices trade on a lower note, but losses have been limited through the first half of action. UK's FTSE -0.4%, France's CAC -0.3%, Germany's DAX -0.2%.
In economic data:
Eurozone June trade surplus expanded to EUR26.60 billion from EUR21.40 billion (expected surplus of EUR22.90 billion). July CPI -0.5% month-over-month, as expected (last 0.0%); +1.3% year-over-year, as expected (last 1.3%). July Core CPI -0.6% month-over-month (last 0.2%); +1.2% year-over-year, as expected (last 1.2%)
UK's July Retail Sales +0.3% month-over-month (expected 0.2%; last 0.3%); +1.3% year-over-year (consensus 1.4%; last 2.8%). Core Retail Sales +0.5% month-over-month (expected 0.2%; last 0.6%); +1.5% year-over-year (consensus 1.3%; last 2.8%)
France's Q2 Unemployment Rate ticked down to 9.5% from 9.6%
In news:
Reports indicate that Brexit talks will be suspended until December to allow Germany to form its government after the federal election on September 24.

05:56AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.10. Nasdaq futures vs fair value: -12.60.
05:56AM ET

[BRIEFING.COM] Nikkei

...19703...-26.70

...-0.10%

. Hang Seng

...27344...-64.90

...-0.20%

05:56AM ET

[BRIEFING.COM] FTSE

...7409.42...-23.60

...-0.30%

DAX

...12227.66...-36.20

...-0.30%

04:30PM ET

[BRIEFING.COM] The major averages registered modest victories on Wednesday, but their performances felt somewhat disappointing as an optimistic steady climb in the morning turned into a fight to hold on in the afternoon. The Nasdaq (+0.2%) finished slightly above the S&P 500 (+0.1%) and the Dow (+0.1%) while the small-cap Russell 2000 (unch) lagged.

Equity indices opened Wednesday's session with modest gains and continued ticking up into the early afternoon. However, news that President Trump will end the Manufacturing Council and Strategy & Policy Forum after several CEOs announced their departures from the two groups prompted a modest sell off that left the major averages just north of their flat lines going into the FOMC minutes release.

The minutes from the July FOMC meeting showed increasing concern among several policymakers about softer than expected inflation readings. Despite the concern about slowing inflation, most Fed officials remain in favor of announcing a balance sheet move at the upcoming policy meeting. The FOMC will kick off its next two-day meeting on September 19.

U.S. Treasuries finished higher across the yield curve on Thursday. The bulk of the gains came in response to the disbandment of President Trump's business councils, but the minutes also played a supporting role. The 10-yr yield slipped four basis points to 2.23% while the 2-yr yield dropped three basis points to 1.33%. Meanwhile, the U.S. Dollar Index (93.42, -0.33) finished lower by 0.4%.

Stocks seesawed a bit following the minutes release, but ultimately ended near their pre-release levels. Nine of the S&P 500's eleven sectors finished in the green with the lightly-weighted materials sector (+0.9%) leading the charge. Copper-mining giant Freeport-MCMoRan (FCX 14.77, +0.80) was the sector's top performer, climbing 5.7%, amid a rally in the copper futures market ($2.95/lb, +2.4%).

The consumer discretionary sector (+0.5%) also showed relative strength as investors cheered the latest earnings reports from Target (TGT 56.31, +1.96) and Urban Outfitters (URBN 19.76, +2.94). TGT added 3.6% after reporting better than expected earnings and an increase of 1.3% in comparable same-store sales while URBN surged 17.5% after beating top and bottom line estimates.

On the flip side, the energy and financials sectors were the only two spaces to finish in negative territory, losing 1.1% and 0.2%, respectively. While the financial sector's loss was modest, its status as the second-heaviest sector by weight--first being technology (+0.3%)--and its important role in driving economic activity didn't bode well for the broader market.

Meanwhile, crude oil weighed on the energy sector, dropping 1.6% to $46.78/bbl, following a mixed EIA inventory report. The Energy Information Administration reported that U.S. crude stockpiles decreased by 8.9 million barrels (consensus -3.0 million barrels) for the week ended August 11 while gasoline inventories increased by 22,000 barrels (consensus -1.1 million barrels).

Reviewing Wednesday's economic data, which was limited to Housing Starts for July and the weekly MBA Mortgage Applications Index:

Housing starts decreased to a seasonally adjusted annualized rate of 1.155 million units in July, down from a revised 1.213 million units in June (from 1.215 million). The Briefing.com consensus expected starts to increase to 1.217 million units. Building permits decreased to a seasonally adjusted 1.223 million in July from a revised 1.275 million in June (from 1.245 million). The Briefing.com consensus expected a reading of 1.247 million.
The key takeaway from the report is that a pullback in starts occurred after a strong June, returning the series to the middle of a range that has been in effect over the past two years. Single-family starts declined 0.5% from June, which won't do much to alleviate supply constraints.
The weekly MBA Mortgage Applications Index ticked up 0.1% to follow last week's 3.0% increase.

On Thursday, investors will receive a slew of economic reports, including the weekly Initial Claims Report (Briefing.com consensus 240K) at 8:30 ET, the August Philadelphia Fed Index (Briefing.com consensus 17) also at 8:30 ET, the July Industrial Production (Briefing.com consensus 0.3%) and Capacity Utilization (Briefing.com consensus 76.7%) Report at 9:15 ET, and the Conference Board's Leading Economic Index for July (Briefing.com consensus 0.3%) at 10:00 ET.

Nasdaq Composite +17.9% YTD
Dow Jones Industrial Average +11.5% YTD
S&P 500 +10.2% YTD
Russell 2000 +2.0% YTD

Dow: +25.88… | Nasdaq: +12.10… | S&P: +3.50…

NASDAQ Adv/Dec 1583/1198. …NYSE Adv/Dec 1802/1140.

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

Image Trade Strategies via Volatility Analysis @ http://www.thestrategylab.com/VolatilityTrading.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
wrbanalysis@gmail.com


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

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


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

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