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 1:47 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: August 21st Monday Trade Results - Profits $2550.00
PostPosted: Mon Aug 21, 2017 11:03 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:
082117-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2550.00.png
082117-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2550.00.png [ 95.73 KiB | Viewed 267 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 @ $2550.00 dollars or +51.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $2550.00 dollars

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

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

Today's Trade Log: All of my live trades are posted real-time in the timestamp ##TheStrategyLab free chat room 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=2627

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:
082117-Key-Price-Action-Markets.png
082117-Key-Price-Action-Markets.png [ 1.03 MiB | Viewed 243 times ]

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

The Market at 04:20PM ET
Dow: +29.24… | Nasdaq: -3.40… | S&P: +2.82…
NASDAQ Vol: 1.55 bln… Adv: 1203… Dec: 1603…
NYSE Vol: 713.0 mln… Adv: 1452… Dec: 1445…

Moving the Market

Top-weighted technology and financials sectors struggle, weigh on broader market

Energy stocks move lower in tandem with the price of crude oil

Sector Watch
Strong: Health Care, Consumer Staples, Telecom Services, Real Estate
Weak: Financials, Energy, Technology
04:20PM ET

[BRIEFING.COM] The equity market opened the week with a rather uneventful performance that left the major averages little changed from where they settled last Friday's session. The S&P 500 (+0.1%) and the Dow (+0.1%) both eked out narrow victories while the Nasdaq (-0.1%) slipped just a tick below its unchanged mark.

Eight of the eleven sectors finished Monday's session in positive territory--consumer discretionary (+0.2%), industrials (+0.1%), materials (+0.1%), health care (+0.5%), consumer staples (+0.4%), utilities (+0.3%), telecom services (+0.7%), and real estate (+1.1%). Countercyclical groups showed relative strength as all four--health care, consumer staples, utilities, and telecom services--finished ahead of the broader market.

On the flip side, the top-weighted technology (-0.1%) and financials (-0.2%) sectors struggled throughout the session, keeping a lid on any bullish sentiment. Within the tech group, chipmakers exhibited particular weakness, sending the PHLX Semiconductor Index lower by 0.7%. Today's loss puts the technology sector in negative territory for the month (-0.1%).

The energy sector (-0.6%) settled at the very bottom of the sector standings, extending its month-to-date loss to 7.2%. The sector moved lower in tandem with the price of crude oil, which dropped 2.4% to $47.56/bbl. Monday's loss breaks a three-session winning streak for the commodity.

Corporate news was light on Monday, but it's worth pointing out that Dow component Nike (NKE 53.61, -1.34) tumbled once again, dropping 2.4%, after being downgraded to 'Hold' from 'Buy' at Jefferies. The company moved solidly lower on Friday in sympathy with Foot Locker (FL 31.82, -2.56), which has plunged 44.6% since delivering a disappointing earnings report on Friday morning.

U.S. Treasuries started the week on a higher note, sending the benchmark 10-yr yield one basis point lower to 2.18%. Meanwhile, the U.S. Dollar Index (93.03, -0.33) slipped 0.4% ahead of the Kansas City Fed's Economic Symposium in Jackson Hole, Wyoming, which will kick off on Thursday.

Investors did not receive any economic data on Monday.

On Tuesday, market participants will receive just one economic report--the FHFA Housing Price Index for June--which will cross the wires at 9:00 ET.

Nasdaq Composite +15.4% YTD
Dow Jones Industrial Average +9.8% YTD
S&P 500 +8.5% YTD
Russell 2000 unch YTD

Dow: +29.24… | Nasdaq: -3.40… | S&P: +2.82…
NASDAQ Adv/Dec 1203/1603. …NYSE Adv/Dec 1452/1445.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.23% at 83.0355
Dollar index is down 0.34% at 93.11.
Oct WTI crude is down on the day.
Futures settled $1.17 lower to $47.56/barrel.
In other energy, Sept natural gas settled up $0.07 at $2.96/MMBtu
Metals settled higher across the board:
Dec gold gained $5.20 to settle at $1296.70/oz, while September silver gained $0.01 to $17.01/oz
September copper gained $0.04 to $2.98/lb
Finally, agriculture:
September corn is $0.03 lower at $3.62/bu.
November soy is down $0.03 at $9.35/bu.
September wheat is down $0.07 at $4.37/bu.

Dow: +22.90… | Nasdaq: -8.55… | S&P: +2.21…
NASDAQ Adv/Dec 1242/1584. …NYSE Adv/Dec 1461/1445.

03:00PM ET

[BRIEFING.COM] The major averages are mixed with just one hour of action left in today's session. The S&P 500 (unch) and the Dow (unch) hold slim gains while the Nasdaq (-0.2%) holds a modest loss.

Moving into the final stretch, seven sectors are trading in the green--consumer discretionary (+0.1%), materials (+0.1%), health care (+0.4%), consumer staples (+0.4%), utilities (+0.2%), telecom services (+0.6%), and real estate (+1.0%)--while four sectors are trading in the red--financials (-0.4%), industrials (unch), energy (-0.6%), and technology (-0.2%).

On the earnings front, several notable companies will deliver their quarterly results tomorrow morning, including Medtronic (MDT 83.57, +0.15), Toll Brothers (TOL 38.11, -0.04), and DSW (DSW 15.60, -0.24).
Dow: +5.16… | Nasdaq: -12.57… | S&P: +0.02…
NASDAQ Adv/Dec 1218/1637. …NYSE Adv/Dec 1434/1458.

02:25PM ET

[BRIEFING.COM] The small-cap Russell 2000 (-0.2%) is trading modestly lower this afternoon, dropping into negative territory for the year (-0.2%).

This week will be pretty quiet on the data front, giving participants ample time to prepare for Friday remarks from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi. The two policymakers will speak at Kansas City Fed's Economic Symposium in Jackson Hole, Wyoming on Friday. Chair Yellen is scheduled to speak at 10:00 ET while Mr. Draghi will deliver his speech at 15:00 ET.

In the bond market, U.S. Treasuries are rallying across the curve this afternoon with the benchmark 10-yr yield dropping two basis points to 2.18%, which marks a two-month low.
Dow: -7.05… | Nasdaq: -14.94… | S&P: -0.93…
NASDAQ Adv/Dec 1154/1723. …NYSE Adv/Dec 1393/1487.

01:55PM ET

[BRIEFING.COM] Equity indices continue to hover near their unchanged marks this afternoon with the Nasdaq (-0.2%) showing relative weakness.

Transports are currently trading a step ahead of the broader market, evidenced by the 0.3% increase in the Dow Jones Transportation Average. Hawaii-based shipping company Matson (MATX 23.63, +0.84) is easily the DJTA's top performer--adding 3.7%--after plunging 22.4% on Friday in reaction to news that TOTE Maritime plans to launch a shipping service that will compete with Matson.

For the month, the DJTA is outperforming the benchmark S&P 500, but has still declined by 0.6%. For comparison, the S&P 500 currently holds a month-to-date loss of 1.8%.
Dow: +3.65… | Nasdaq: -13.03… | S&P: +0.40…
NASDAQ Adv/Dec 1141/1750. …NYSE Adv/Dec 1405/1465.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to trade mixed at this time amid a quiet start to the trading week.

A look inside the Dow Jones Industrial Average shows that Home Depot (HD 149.65, +2.16), Cisco (CSCO 30.67, +0.30), & Verizon (VZ 48.15, +0.46) are outperforming. Home Depot is leading the Dow higher following a positive mention in this weekend's Barron's magazine.

Conversely, Nike (NKE 53.57, -1.38) is the worst-performing Dow component after being downgraded to Hold by analysts at Jefferies.

The DJIA is currently down 0.9% this month.
Dow: +10.09… | Nasdaq: -9.10… | S&P: +1.76…
NASDAQ Adv/Dec 1183/1720. …NYSE Adv/Dec 1455/1400.

01:05PM ET

[BRIEFING.COM] The first half of Monday's session was relatively uneventful as investors lacked conviction to decisively move the market one way or the other. The major averages are currently trading near their best marks of the day with the S&P 500 sporting a gain of 0.2%.

Eight of the eleven sectors are trading in the green at midday with countercyclical groups like telecom services (+1.1%), consumer staples (+0.6%), and health care (+0.5%) showing relative strength. The real estate sector (+1.1%) also outperforms while the other advancers hold gains of no more than 0.3%.

On the flip side, the top-weighted technology (-0.1%) and financials (-0.2%) sectors have struggled to keep pace throughout today's session, effectively putting a lid on the broader market's gain. Within the tech space, chipmakers have exhibited relative weakness, sending the PHLX Semiconductor Index lower by 0.6%.

The energy sector (-0.6%) is trading at the very bottom of today's sector standings as crude oil weighs; the commodity has tumbled 1.9% to a price of $47.76/bbl. Today's slide extends crude oil's month-to-date loss to 4.8%.

August has been a rough month for the stock market in general--evidenced by the S&P 500's current month-to-date loss of 1.7%--as investors have found it difficult to push equities to new all-time highs amid heightened tensions between the U.S. and North Korea and uncertainty regarding progress on the White House's pro-growth agenda.

However, Treasury Secretary Steven Mnuchin did say this afternoon that he is looking to kick off the tax reform process next month.

Outside of the equity market, U.S. Treasuries are trading slightly higher this afternoon with the benchmark 10-yr yield dropping one basis point to 2.19%. Meanwhile, the U.S. Dollar Index (92.95, -0.41) has dropped 0.4% and gold has climbed 0.4% to $1,296.94/ozt.

Investors did not receive any economic data on Monday.
Dow: +13.95… | Nasdaq: -6.01… | S&P: +2.46…
NASDAQ Adv/Dec 1222/1647. …NYSE Adv/Dec 1464/1384.

12:25PM ET

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

In Europe, the major bourses opened the week modestly lower with the UK's FTSE, France's CAC, and Germany's DAX dropping 0.1%, 0.5%, and 0.8%, respectively. Financials largely struggled across the continent with Germany's Deutsche Bank leading the retreat, dropping 2.4%.

Meanwhile, the euro has climbed 0.4% against the U.S. dollar to 1.1812, which marks the single currency's best level in a week. The pound is also up against the greenback, jumping 0.2% to 1.2903.
Dow: -1.02… | Nasdaq: -7.98… | S&P: +1.57…
NASDAQ Adv/Dec 1107/1759. …NYSE Adv/Dec 1361/1475.

11:55AM ET

[BRIEFING.COM] The major averages continue hovering near their unchanged marks with the S&P 500 sporting a slim gain of 0.1%.

Technology stocks have bounced back a bit late this morning, trimming the top-weighted technology sector's loss to 0.1%. In total, only three of the eleven sectors are still trading in negative territory this morning with financials (-0.3%) and energy (-0.7%) being the other two. Crude oil has weighed on the energy space, dropping 1.8% to a price of $47.78/bbl.

On the flip side, the telecom services group (+1.2%) is hovering at the top of the leaderboard with its two most influential components--Verizon (VZ 48.37, +0.67) and AT&T (T 37.81, +0.44)--showing respective gains of 1.4% and 1.2%. The real estate space (+0.9%) also exhibits notable strength.
Dow: +4.89… | Nasdaq: -6.04… | S&P: +1.94…
NASDAQ Adv/Dec 1128/1720. …NYSE Adv/Dec 1379/1425.

11:25AM ET

[BRIEFING.COM] Equities have ticked up in recent action, pushing the S&P 500 (unch) into positive territory.

Chipmakers have struggled this morning, evidenced by the PHLX Semiconductor Index, which is currently trading lower by 1.1%. August has been a tough month for the semiconductor industry in general with today's decline extending the SOX's month-to-date loss to 2.3%. Still, even with this month's slump, the SOX is up 17.2% for the year. For comparison, the S&P 500 holds a year-to-date gain of 8.3%.

NVIDIA (NVDA 158.70, -2.85) is among the weakest semiconductor components within the top-weighted technology sector (-0.3%), dropping 1.7%. A loss today would mark the company's fourth in the last five sessions. However, NVIDIA still holds an impressive year-to-date gain of 48.7%.
Dow: +7.31… | Nasdaq: -13.84… | S&P: +1.36…
NASDAQ Adv/Dec 1061/1767. …NYSE Adv/Dec 1357/1410.

10:55AM ET

[BRIEFING.COM] The equity market has pulled back this morning after opening around its flat line. The S&P 500 currently holds a loss of 0.1% while the tech-heavy Nasdaq (-0.4%) underperforms.

Six sectors are currently trading in the green--materials (+0.2%), health care (+0.3%), consumer staples (+0.3%), utilities (+0.1%), telecom services (+1.2%), and real estate (+0.9%)--while five sectors are trading in the red--financials (-0.5%), consumer discretionary (-0.1%), industrials (-0.1%), energy (-0.5%), and technology (-0.6%).

The two heaviest sectors by weight--technology and financials--comprise around 35.0% of the broader market combined and have played an important role in driving the benchmark index lower this morning. Both sectors have suffered amid broad weakness with large-cap names like Apple (AAPL 155.84, -1.62) and Goldman Sachs (GS 220.13, -2.07) dropping around 1.0% apiece.
Dow: -21.94… | Nasdaq: -22.64… | S&P: -1.72…
NASDAQ Adv/Dec 954/1839. …NYSE Adv/Dec 1274/1746.

10:45AM ET

[BRIEFING.COM] Commodities begin the day flat:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently flat at 83.2015
Dollar index is currently down 0.33% at 93.12.
Sept WTI crude is down on the day.
Futures are $0.80 lower to $47.71/barrel.
In other energy, Sept natural gas is up $0.07 at $2.963/MMBtu
Metals are performing well:
Dec gold gained $5.10 and trades at $1297.10/oz, while Sept silver gained $0.055 to $17.055/oz
Sept copper gained $0.0465 to $2.986/lb
Finally, agriculture:
Sept corn is down $0.0425 at $3.615/bu.
Nov soy is down $0.03 at $9.3475/bu.
Sept wheat is down $0.0475 at $4.3775/bu.

Dow: -21.55… | Nasdaq: -24.34… | S&P: -2.49…
NASDAQ Adv/Dec 931/1836. …NYSE Adv/Dec 1249/1493.

09:55AM ET

[BRIEFING.COM] The major averages have ticked down in recent action. The S&P 500 now shows a slim loss of 0.1%.

Foot Locker (FL 33.09, -1.33) is struggling again today after plunging 27.9% on Friday in reaction to its disappointing earnings report. As for today, the shoe retailer is currently down 3.8%. In sympathy, athletic merchandise suppliers like Nike (NKE 53.42, -1.53) and Under Armour (UAA 16.71, -0.41) finished solidly lower on Friday and have sold off once again today, dropping 2.6% apiece.

Most sectors are still hovering near their unchanged marks. The energy (-0.5%) and financials (-0.3%) groups show relative weakness while the health care (+0.2%), telecom services (+0.2%), and real estate (+0.2%) spaces show relative strength.
Dow: -25.90… | Nasdaq: -0.09… | S&P: -1.40…
NASDAQ Adv/Dec 1032/1588. …NYSE Adv/Dec 1166/1447.

09:45AM ET

[BRIEFING.COM] The major averages opened Monday's session mixed; the Nasdaq (+0.1%) and the S&P 500 (+0.1%) sport slim gains while the Dow (unch) shows a slim loss.

Sector movement has been pretty modest thus far with all 11 groups hovering within 0.4% of their unchanged marks. The telecom services space (+0.3%) exhibits relative strength while the energy group (-0.3%) exhibits relative weakness.

In the bond market, Treasuries have slipped a bit in recent action, giving back most of their modest gains. The benchmark 10-yr yield is one basis point lower at 2.19% while the 2-yr yield is unchanged at 1.31%.
Dow: -4.55… | Nasdaq: +8.26… | S&P: +1.41…
NASDAQ Adv/Dec 1141/1379. …NYSE Adv/Dec 1193/1366.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: +4.90.

It appears that the stock market will open Monday's session relatively flat as the S&P 500 futures currently trade just one point below fair value.

Things have been pretty quiet on Wall Street this morning with very little corporate news to speak of. The Korean Peninsula will be in focus this week as South Korea and U.S. forces begin their annual military exercise, which will last for about ten days. North Korea says the exercise will only add fuel to the fire.

U.S. Treasuries are trading slightly higher in early action, pushing the benchmark 10-yr yield one basis point lower to 2.19%. The 10-yr yield is currently hovering near a two-month low. Meanwhile, the U.S. Dollar Index (93.20, -0.16) is lower by 0.2%, gold is up 0.2% at a price of $1,294.37/ozt, and crude oil is down 0.3% at a price of $48.54/bbl.

Investors will not receive any economic data on Monday.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +2.50.

The S&P 500 futures trade in line with fair value.

Equity indices in the Asia-Pacific region ended Monday on a mixed note. North Korea warned that the U.S. joint military exercise with South Korea will only add fuel to the fire, but the 10-day war games began today nonetheless. Reports out of Hong Kong indicate that stocks listed in the Hang Seng may see another change to their weighting limit after the limit was lowered to 10% from 15% in 2014. Bank of Japan Governor Haruhiko Kuroda said the central bank has tools to counter adverse effects when normalizing policy, but did not discussing specifics to 'avoid creating confusion.'

In economic data:
Japan's August Reuters Tankan Index 27 (last 26). All Industries Activity Index +0.4% month-over-month (expected 0.5%; last -0.8%)
New Zealand's Visitor Arrivals -5.3% month-over-month (last 4.9%) and Credit Card Spending +7.2% year-over-year (last 8.3%)
South Korea's July PPI +0.1% month-over-month (last -0.4%); +3.0% year-over-year (last 2.8%)

---Equity Indices---

Japan's Nikkei shed 0.4%. Konica Minolta, Yamaha Motor, Keisei Electric Railway, Tokyo Electron, Yamaha, Dentsu, Suzuki Motor, Fast Retailing, Mazda Motor, and Nikon lost between 1.2% and 3.5%. On the upside, Toto, Chubu Electric Power, Kikkoman, and Kirin Holdings gained between 1.3% and 2.3%.
Hong Kong's Hang Seng gained 0.4%. Apple supplier AAC Technologies outperformed, jumping 4.4%. CNOOC, China Petrol & Chemical, and PetroChina advanced between 1.3% and 3.9%. Property names like China Resources Land, China Overseas, Henderson Land, SHK Properties, and New World Development rose between 0.4% and 3.2%.
China's Shanghai Composite climbed into the close, rising 0.6%. Eastern Communications, Nanjing Iron & Steel, Hangxiao Steel Structure, Aluminum Corp of China, and China Railway Tielong Container Logistics posted gains between 5.7% and 9.0%.
India's Sensex fell 0.8%. Infosys extended its fall from Friday, diving 5.4%. Dr. Reddy's Labs and Sun Pharma lost 2.5% and 2.0%, respectively, while Adani Ports, Lupin, Coal India, and Tata Motors fell between 1.6% and 2.7%.

Major European indices trade mixed with Spain's IBEX (+0.2%) trying to stay ahead of the pack. German Chancellor Angela Merkel defended her decision to open Germany's borders to a flood of refugees and migrants last year and said she intends to serve a full term if re-elected in September. Bundesbank expects Germany's growth to exceed expectations during the second half of 2017. Fitch upgraded Greece's credit rating to B- from CCC on Friday evening.

Investors did not receive any economic data of note

---Equity Markets---

France's CAC is lower by 0.3% with financials under pressure. BNP Paribas, Societe Generale, and Credit Agricole show losses between 1.3% and 1.9%. Automakers Peugeot and Renault are both down near 1.2%. On the upside, consumer names like Pernod Ricard, Kering, Louis Vuitton, and Carrefour are up between 0.2% and 0.4%.
Germany's DAX has shed 0.3% amid losses in most components. Deutsche Bank and Commerzbank are both down around 1.0% apiece. Heavyweights like Volkswagen, BMW, Bayer, BASF, Daimler, and SAP show losses between 0.2% and 0.9%. On the upside, Lufthansa has spiked 1.2%.
UK's FTSE hovers just below its flat line. Financials like Barclays, RBS, HSBC, and Standard Life are down between 0.2% and 1.3%. On the flip side, homebuilders Persimmon, Taylor Wimpey, and Barratt Developments have added between 0.5% and 1.7%. Miners like Antofagasta, Anglo American, and BHP Billiton show gains between 0.3% and 1.3%.
Spain's IBEX is up 0.2%. Grifols, DIA, Acerinox, Mediaset, Gamesa, and Acciona show gains between 0.7% and 2.1%.


08:25AM ET
[BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +2.50.

The S&P 500 futures trade in line with fair value.

August has been a rough month for Wall Street, evidenced by the S&P 500's current month-to-date loss of 1.8%. Ten out of eleven sectors hold month-to-date losses, which range from less than 0.1% (technology) to 6.6% (energy). The lightly-weighted utilities space is the lone advancer, sporting a month-to-date gain of 2.0%.

If the benchmark index finishes August in the red, it will mark only its second monthly loss of the year. The first was registered for the month of March, when the S&P 500 lost less than 0.1%.

07:57AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +9.10.

The stock market ended last week on a down note as the benchmark S&P 500 dropped 0.2% to extend its weekly loss to 0.7%. Investors are a little more optimistic this morning, however, evidenced by the S&P 500 futures, which currently trade three points, or 0.1%, above fair value.

Investors will be keeping an eye on the Korean Peninsula this week as South Korea and U.S. forces begin their annual military exercise, which South Korean President Moon Jae-in says is defensive in nature. The exercise, which comes on the heels of a war of words between North Korea and the U.S. earlier this month, will last for about ten days.

U.S. Treasuries are trading higher this morning, pushing the benchmark 10-yr yield one basis point lower to 2.18%. Meanwhile, the U.S. Dollar Index (93.29, -0.07) shows a slim loss of 0.1% and crude oil shows a modest gain of 0.3%. WTI crude is currently trading at a price of $48.65/bbl.

On the earnings front, there are 16 S&P 500 components on this week's calendar, including Lowe's (LOW 73.65, +0.01), HP (HPQ 18.50, -0.01), Medtronic (MDT 83.40, -0.01), Dollar Tree (DLTR 74.26, +0.01), Broadcom (AVGO 247.03, -2.34, Staples (SPLS 10.19, 0.00), and Salesforce.com (CRM 91.00, +0.24).

As for economic data, this week's calendar is heavy on housing data with the June FHFA Housing Price Index due on Tuesday, July New Home Sales (Briefing.com consensus 615K) on Wednesday, and July Existing Home Sales (Briefing.com consensus 5.56 million) on Thursday. Also of note, Durable Goods for July (Briefing.com consensus -6.0%) will be released on Friday.

Investors will not receive any economic reports on Monday.

In U.S. corporate news:

Nike (NKE 54.31, -0.64): -1.2% after the company's shares were downgraded to 'Hold' from 'Buy' at Jefferies.
Starbucks (SBUX 53.10, +0.40): +0.8% after the company got a positive mention in this weekend's Barron's.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Monday on a mixed note. Japan's Nikkei -0.4%, Hong Kong's Hang Seng +0.4%, China's Shanghai Composite +0.6%, India's Sensex -0.8%.
In economic data:
Japan's August Reuters Tankan Index 27 (last 26). All Industries Activity Index +0.4% month-over-month (expected 0.5%; last -0.8%)
New Zealand's Visitor Arrivals -5.3% month-over-month (last 4.9%) and Credit Card Spending +7.2% year-over-year (last 8.3%)
South Korea's July PPI +0.1% month-over-month (last -0.4%); +3.0% year-over-year (last 2.8%)
In news:
North Korea warned that the U.S. joint military exercise with South Korea will only add fuel to the fire, but the 10-day war games began today nonetheless.
Reports out of Hong Kong indicate that stocks listed in the Hang Seng may see another change to their weighting limit after the limit was lowered to 10% from 15% in 2014.
Bank of Japan Governor Haruhiko Kuroda said the central bank has tools to counter adverse effects when normalizing policy, but did not discussing specifics to 'avoid creating confusion.'

Major European indices trade mixed. France's CAC -0.3%, Germany's DAX -0.2%, UK's FTSE unch, Spain's IBEX +0.2%.
In economic data:
Investors did not receive any economic data of note.
In news:
German Chancellor Angela Merkel defended her decision to open Germany's borders to a flood of refugees and migrants last year and said she intends to serve a full term if re-elected in September.
Bundesbank expects Germany's growth to exceed expectations during the second half of 2017.
Fitch upgraded Greece's credit rating to B- from CCC on Friday evening.

05:51AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -5.50.

05:51AM ET
[BRIEFING.COM] Nikkei...19393...-77.30...-0.40%. Hang Seng...27155...+107.10...+0.40%.

05:51AM ET
[BRIEFING.COM] FTSE...7311.86...-12.10...-0.20%. DAX...12118...-47.60...-0.40%.

04:30PM ET

[BRIEFING.COM] The major averages finished in negative territory for the second day in a row on Friday, adding to their losses for the week. The Dow led the retreat, losing 0.4%, while the S&P 500 and the Nasdaq finished lower by 0.2% and 0.1%, respectively. For the week, the Dow, the S&P 500, and the Nasdaq finished with respective losses of 0.8%, 0.7%, and 0.6%.

Equities opened modestly lower, but retraced those early-morning losses and moved into positive territory following an Axios report that suggested White House Chief Strategist Steve Bannon would be let go--and indeed he was with the official notice crossing the wires in the afternoon.

Mr. Bannon has been described as perhaps the most polarizing figure within President Trump's inner circle, so it could be argued that his departure will make it easier for Mr. Trump to find common ground with Congress. However, it could also be argued that the headline simply provided a good excuse for some buying following Thursday's big sell off.

Regardless, the bears cut into the modest gains on Friday afternoon and eventually dragged the major averages into the red. Only three sectors--energy, utilities, and materials--finished in the green.

The utilities and energy spaces finished at the top of the day's leaderboard, adding 0.6% apiece. Crude oil underpinned the energy group, jumping 3.2% to $48.57/bbl. The commodity benefited from rumors that one of the largest oil refineries in the U.S. has been shut down. Despite Friday's advance, crude oil still finished 0.5% lower for the week.

As for the remaining sectors, materials (+0.1%) eked out a small victory while financials (-0.1%), consumer discretionary (-0.5%), industrials (-0.3%), technology (-0.1%), health care (-0.4%), consumer staples (-0.4%), telecom services (-0.5%), and real estate (-0.7%) finished in the red.

In corporate news, Foot Locker (FL 34.38, -13.32) plunged 27.9% to its lowest level in nearly four years after the shoe apparel retailer missed both top and bottom line estimates and reported far worse-than-expected same-store sales. Athletic merchandise suppliers like Nike (NKE 54.95, -2.51) and Under Armour (UAA 17.12, -0.69) also sold off, dropping 4.4% and 3.9%, respectively.

Deere (DE 117.31, -6.67) also finished solidly lower, losing 5.4%, after reporting better than expected earnings but worse than expected revenues. Conversely, Ross Stores (ROST 59.02, +5.69) jumped 10.7% after reporting better than expected earnings and revenues.

U.S. Treasuries finished Friday on a mixed note after backing off their morning highs; the 2-yr yield climbed one basis point to 1.31% while the 10-yr yield dropped one basis point to 2.19%.

Reviewing Friday's economic data, which was limited to the preliminary reading of the University of Michigan Consumer Sentiment Index for August:

The preliminary reading of the University of Michigan Consumer Sentiment Index for August rose to 97.6 (Briefing.com consensus 94.0) from 93.4 in July.
The August increase was fueled by a rebound in the Expectations Index, which returned to levels from the start of 2017.

Investors will not receive any economic data on Monday.

Nasdaq Composite +15.5% YTD
Dow Jones Industrial Average +9.7% YTD
S&P 500 +8.3% YTD
Russell 2000 +0.1% YTD

Week In Review: Playing Politics

Wall Street had another disappointing week, its second in a row, as investors continued to drag the major U.S. indices from their all-time highs. The Dow, the S&P 500, and the Nasdaq finished with losses of 0.8%, 0.7%, and 0.6%, respectively, while the small-cap Russell 2000 underperformed (-1.2%), dropping to its flat line for the year.

Five sectors settled the week in the green--utilities (+1.3%), materials (+0.4%), real estate (+0.2%), consumer staples (+0.1%), and technology (unch)--while six groups finished in the red--energy (-2.7%), telecom services (-1.8%), consumer discretionary (-1.8%), industrials (-1.1%), health care (-0.8%), and financials (-0.5%).

The week's most notable headlines in chronological order:

Monday--S&P 500 +1.0%, Nasdaq +1.3%, Dow +0.6%
Investors breathed a sigh of relief after a quiet weekend in regards to North Korea
Tuesday--S&P 500 -0.1%, Nasdaq -0.1%, Dow unch
North Korea decided against executing last week's threat to launch missiles towards the U.S. territory of Guam
July Retail Sales came in hotter than expected (+0.6% actual vs +0.3% Briefing.com consensus)
Wednesday--S&P 500 +0.1%, Nasdaq +0.2%, Dow +0.1%
President Trump ended his Manufacturing Council and Strategy & Policy Forum following the departure of several CEOs
The FOMC minutes from the July meeting showed concerns about softer than expected inflation readings
Thursday--S&P 500 -1.5%, Nasdaq -1.9%, Dow -1.2%
Rumors that NEC Director Gary Cohn plans to resign circulated; the White House said the rumors are false
Terrorist attacks in Spain killed 14 and left more than 100 injured
Friday--S&P 500 -0.2%, Nasdaq -0.1%, Dow -0.4%
President Trump fired White House Chief Strategist Steve Bannon
The SPDR S&P Retail ETF (XRT) settled at its worst level since February 2016 following this week's batch of earnings

Thursday's session was perhaps the most notable of the week as the S&P 500 registered its second-worst performance of the year. 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 following the president's controversial comments regarding last weekend's events in Charlottesville, VA. The White House later declared that the rumor was "100% false", but it did little to reverse the market's downward trend.

True or not, the rumor didn't do much to dispel the notion that working with the president could be a political liability, especially considering that it came on the heels of Mr. Trump's Wednesday decision to disband his Manufacturing Council and Strategy & Policy Forum in response to several CEOs leaving the two groups. The chief executives cited Mr. Trump's controversial Charlottesville comments as the reason for their departures. If Republicans in Congress start distancing themselves from Mr. Trump, it will be that much harder for him to push through his pro-growth agenda.

However, those concerns eased a bit on Friday after President Trump fired White House Chief Strategist Steve Bannon, a decision that was well received by the market. Mr. Bannon was the chief executive of Mr. Trump's presidential campaign and has been described as perhaps the most polarizing figure within President Trump's inner circle. Therefore, in the absence of Mr. Bannon, the thinking is that the president might dial back his rhetoric a bit, making it easier for the White House to work with Congress in passing the president's pro-growth agenda.

Following this week's events, the fed funds futures market now points to the March 2018 FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 51.5%. Last week, the market expected the next rate hike to occur in June 2018 with an implied probability of 57.5%.

Dow: -76.22… | Nasdaq: -5.39… | S&P: -4.46…
NASDAQ Adv/Dec 1449/1381. …NYSE Adv/Dec 1513/1360.

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 1 guest


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

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