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 11:58 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: August 29th Tuesday Trade Results - Profits $1300.00
PostPosted: Wed Aug 30, 2017 7:11 am 
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)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)

Attachment:
082917-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1300.00.png
082917-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1300.00.png [ 95.77 KiB | Viewed 228 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 @ $1300.00 dollars or +26.00 points, Light Crude Oil CL ($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 @ $1300.00 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 RTY Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup (formerly as TF @ 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=2633

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:
082917-Key-Price-Action-Markets.png
082917-Key-Price-Action-Markets.png [ 1.02 MiB | Viewed 289 times ]

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


The Market at 04:25PM ET
Dow: +56.97… | Nasdaq: +18.87… | S&P: +2.06…
NASDAQ Vol: 1.6 bln… Adv: 1435… Dec: 1355…
NYSE Vol: 680.7 mln… Adv: 1408… Dec: 1496…

Moving the Market

North Korea launches a missile over Japan; President Trump says "[a]ll options are on the table" in response

Financial sector underperforms while technology and industrials sectors show relative strength

Sector Watch
Strong: Industrials, Technology, Consumer Staples
Weak: Financials, Consumer Discretionary, Materials, Telecom Services
04:25PM ET

[BRIEFING.COM] The major U.S. indices eked out a victory on Tuesday, overcoming a further tightening of geopolitical tensions following yet another North Korean ballistic missile launch. The Nasdaq (+0.3%) led the advance, followed closely by the Dow (+0.3%), the S&P 500 (+0.1%), and the small-cap Russell 2000 (+0.1%). Equity indices settled near their best marks of the day.

North Korea rattled equity markets around the globe on Tuesday morning after firing a missile over the Japanese island of Hokkaido--marking the first time since 2009 that Pyongyang has fired over Japan's main islands. In response, President Trump said "all options are on the table" and reports indicated that the U.S. and Japan will call for an international embargo on oil exports to North Korea.

Wall Street opened solidly lower, but quickly began retracing its opening loss, and moved higher still as the reversal in sentiment sent short sellers running for cover. The rally was led by the industrial sector (+0.7%), which benefited from strength in defense names following the North Korean launch. Dow component Boeing (BA 240.49, +3.31) finished higher by 1.4%.

Dow component Untied Technologies (UTX 118.70, +3.37) also bolstered the industrial group, jumping 2.9%, following a Wall Street Journal report that the company is nearing a deal to buy Rockwell Collins (COL 130.74, +2.75) for a price of up to $140 per share. In addition, transports outperformed, pushing the Dow Jones Transportation Average (+0.9%) to its third-consecutive win.

The top-weighted technology sector (+0.4%) also outperformed on Tuesday, helping to mitigate the negative performance of the influential financial space (-0.5%). The financial sector suffered amid broad weakness, but select property and casualty insurers bounced back from yesterday's sell off, which was in response to the devastation caused along the Texas coast by Tropical Storm Harvey.

Like yesterday, WTI crude futures moved lower, dropping 0.3% to $46.22/bbl, amid concerns about near-term demand following the closure of many oil refineries along the Texas coast. Meanwhile, RBOB gasoline futures climbed 1.3% to $1.64/gallon.

As for the remaining sectors, health care (+0.2%) and consumer staples (+0.3%) finished in the green while consumer discretionary (-0.2%), energy (-0.1%), materials (-0.6%), utilities (-0.2%), telecom services (-0.2%), and real estate (-0.1%) settled in the red.

Retailers struggled after Finish Line (FINL 8.50, -1.92) issued a very disappointing second quarter warning and reduced its fiscal 2018 outlook. The shoe-retailer dropped 18.4% and Nike (NKE 52.73, -1.00) moved 1.9% lower in sympathy. In addition, Best Buy (BBY 55.02, -7.45) tumbled 11.9% despite beating both top and bottom line estimates and raising its guidance for the fiscal year.

U.S. Treasuries moved higher across the curve in response to the North Korean missile test, but finished a ways off from their best marks of the day. The benchmark 10-yr yield dropped two basis points to 2.14%, but traded as low as 2.09% in the early morning. Meanwhile, the U.S. Dollar Index (92.28, +0.11) managed to eke out a small victory, coming back from a loss of around 0.6%.

It's also worth mentioning that the CBOE Volatility Index (VIX 11.76, +0.44) held a huge gain of around 27.0% early on Tuesday morning, but trimmed that gain to 3.8% by the closing bell.

The Reviewing Tuesday's economic data, which was limited to the Consumer Confidence report for August and the Case-Shiller Home Price Index for June:

The consumer confidence reading for August rose to 122.9 from the prior month's revised reading of 120.0 (from 121.1). The Briefing.com consensus expected the survey to hit 120.3.
The key takeaway from the report is that consumer confidence remained high as the current labor market assessment overshadowed a lot of the political drama that has called into question the ability to implement a tax reform plan this year.
The June Case-Shiller 20-city Index hit 5.7%, which is in line with the Briefing.com consensus. The prior month's reading was left unrevised at 5.7%.

On Wednesday, investors will receive several economic reports, including the weekly MBA Mortgage Applications Index at 7:00 ET, the ADP Employment Change Report for August (Briefing.com consensus 180K) at 8:15 ET, and the second estimate of second quarter GDP (Briefing.com consensus 2.7%) at 8:30 ET.

Nasdaq Composite +17.1% YTD
Dow Jones Industrial Average +10.6% YTD
S&P 500 +9.3% YTD
Russell 2000 +2.0% YTD

Dow: +56.97… | Nasdaq: +18.87… | S&P: +2.06…

NASDAQ Adv/Dec 1435/1355. …NYSE Adv/Dec 1408/1496.

03:30PM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are up 0.1% at 83.5025
Dollar index is currently up 0.06% at 92.26.
Oct WTI crude is down a bit on the day.
Around noon eastern, crude began a rally and now futures trade down slightly on the day.
Futures are down $0.10 lower to $46.47/barrel.
In other energy, Oct natural gas trades $0.014 higher at $2.975/MMBtu
After a strong start to the day precious metals sold off
Dec gold lost $3.90 to and trades at $1311.40/oz, while Sept silver dropped $0.141 to $17.30/oz
Sept copper futures gained $0.016 to $3.078/lb
Finally, agriculture:
Dec corn is $0.0225 lower at $3.4875/bu.
Nov soy is down $0.04 at $9.3725/bu.
Dec wheat is up $0.0175 at $4.2975/bu.

Dow: +69.07… | Nasdaq: +26.82… | S&P: +4.31…

NASDAQ Adv/Dec 1574/1267. …NYSE Adv/Dec 1462/1445.

02:55PM ET

[BRIEFING.COM] The major averages enter the final hour of trading at their best marks of the day. The Nasdaq (+0.3%) is leading the charge, followed closely by the Dow (+0.2%) and the S&P 500 (+0.1%).

Today's sector standings currently show five sectors in the green--industrials (+0.6%), technology (+0.5%), health care (+0.1%), consumer staples (+0.3%), and real estate (unch)--and six sectors in the red--financials (-0.4%), consumer discretionary (-0.2%), energy (-0.1%), materials (-0.5%), utilities (-0.1%), and telecom services (-0.3%).

On the earnings front, H&R Block (HRB 29.41, -0.20) and Ollie's Bargain Outlet (OLLI 43.68, -0.18) are among the most notable companies reporting results this afternoon. Analog Devices (ADI 79.57, +0.14) will deliver its quarterly report on Wednesday morning.

Dow: +37.66… | Nasdaq: +20.29… | S&P: +2.25…

NASDAQ Adv/Dec 1526/1281. …NYSE Adv/Dec 1414/1483.

02:25PM ET

[BRIEFING.COM] The major U.S. indices haven't budged since the last update.

Crude oil has trimmed its earlier loss to 0.7% from 1.7% this afternoon, but still looks poised to settle in the red for the second session in a row. News that Tropical Storm Harvey has forced the closure of many oil refineries along the Texas coast has prompted concerns about near-term demand for the commodity. However, the weekly API crude inventory report--which will be released this afternoon at 16:30 ET--has the potential to reverse, or strengthen, the commodity's downward trend. The more influential government inventory report will be released tomorrow morning at 10:30 ET.

The energy sector is currently trading at its best mark of the day, down 0.2%. Through the first two sessions of the week, the sector has dropped 0.6%.

Dow: +29.93… | Nasdaq: +14.01… | S&P: +0.28…

NASDAQ Adv/Dec 1450/1364. …NYSE Adv/Dec 1347/1548.

01:55PM ET

[BRIEFING.COM] After opening today's session with a loss of around 0.7%, the benchmark S&P 500 has reached its unchanged mark with five of its eleven sectors trading in the green.

Investor sentiment took a hit this morning after North Korea fired a ballistic missile that flew over northern Japan before crashing into the sea. President Trump responded firmly, saying that "[a]ll options are on the table", but his response may have been less harsh than what some investors were expecting following his promise at the beginning of the month to meet future North Korea threats with "fire and fury".

Asian equity markets held up relatively well--all things considered--with Japan's Nikkei and Hong Kong's Hang Seng losing 0.5% and 0.4%, respectively. China's Shanghai Composite actually ticked up 0.1%.

Dow: +22.18… | Nasdaq: +9.40… | S&P: -0.65…

NASDAQ Adv/Dec 1375/1450. …NYSE Adv/Dec 1333/1538.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to fluctuate around base levels, having recovered from meaningful overnight lows that followed the latest North Korean missile test.

A look inside the Dow Jones Industrial Average shows that United Technologies (UTX 117.74, +2.41), Caterpillar (CAT 116.33, +1.26), & Boeing (BA 239.23, +2.05) are outperforming. United Technologies & Boeing are displaying relative strength alongside all defense names amid the renewed North Korea tensions. Additionally, the WSJ reported that United Technologies is nearing a long-reported deal to acquire Rockwell Collins (COL 130.15, +2.16) for more than $20 bln.

Conversely, Nike (NKE 52.24, -1.49) is the worst-performing Dow component after shoe retailer Finish Line (FINL 8.43, -1.99) slashed its profit outlook and adopted a poison pill to 'reduce the likelihood that any person or group would gain control of Finish Line through open market accumulation or coercive takeover tactics'.

At current levels, the DJIA is up 0.09% this week, but still down 0.25% this month.

Elsewhere, at the top of the hour, the Treasury's $28 bln 7-year auction drew a high yield of 1.941% on a bid-to-cover of 2.46.

Dow: +15.08… | Nasdaq: +10.22… | S&P: -1.04…

NASDAQ Adv/Dec 1561/1253. …NYSE Adv/Dec 1398/1482.

01:00PM ET

[BRIEFING.COM] Investors have largely shrugged off this morning's North Korean missile launch, pushing the Dow (+0.1%) and the Nasdaq (+0.2%) into positive territory. However, the S&P 500 and the Russell 2000 are still lagging a bit this afternoon, holding modest losses of 0.1% and 0.2%, respectively.

President Trump said "[a]ll options are on the table" in regards to the ongoing situation on the Korean Peninsula, which escalated a bit further this morning after North Korea launched a mid-range missile over the Japanese island of Hokkaido, marking the first time since 2009 that Pyongyang has fired over Japan's main islands. However, Asian equity markets held up relatively well despite North Korea's prodding.

The U.S. equity market opened in negative territory--with the S&P 500 losing as much as 0.7%--but quickly began trimming its opening loss. The heavily-weighted financial sector (-0.7%) has remained weak throughout the session, but gains from the technology (+0.2%), industrials (+0.4%), consumer staples (+0.4%), and health care (+0.1%) groups, among others, have helped mitigate financials' influence.

United Technologies (UTX 117.14, +1.81) has helped bolster the industrial group, jumping 1.6%, following a Wall Street Journal report that the company is nearing a deal to buy Rockwell Collins (COL 130.30, +2.32) for a price of up to $140 per share. If the deal comes to fruition, it would create one of the world's biggest aircraft-equipment makers. COL shares are also higher, climbing 1.8%.

In other corporate news, shoe-retailer Finish Line (FINL 8.35, -2.07) has plunged 19.6% on the heels of a very disappointing second quarter warning and a reduced fiscal 2018 outlook. Dow component Nike (NKE 52.21, -1.52) has moved 2.8% lower in sympathy. Meanwhile, Best Buy (BBY 55.43, 7.03) has dropped 11.3% despite beating both top and bottom line estimates and raising its guidance.

The Texas coast--and Houston in particular--is still feeling the wrath of Tropical Storm Harvey, which has produced record flooding and forced the closure of the Port of Houston and many oil refineries. Crude futures are down 1.5% at a price of $45.88/bbl as investors fear the refinery shutdowns will reduce demand for the commodity. Meanwhile, gasoline futures are up 0.4% at a price of $1.59/gallon.

In the bond market, U.S. Treasuries have come off their best marks of the day, but are still trading higher across the yield curve; the benchmark 10-yr yield has slipped three basis points to 2.13%.

Reviewing Tuesday's economic data, which was limited to the Consumer Confidence report for August and the Case-Shiller Home Price Index for June:

The consumer confidence reading for August rose to 122.9 from the prior month's revised reading of 120.0 (from 121.1). The Briefing.com consensus expected the survey to hit 120.3.
The key takeaway from the report is that consumer confidence remained high as the current labor market assessment overshadowed a lot of the political drama that has called into question the ability to implement a tax reform plan this year.
The June Case-Shiller 20-city Index hit 5.7%, which is in line with the Briefing.com consensus. The prior month's reading was left unrevised at 5.7%.

Dow: +18.95… | Nasdaq: +14.63… | S&P: -0.54…

NASDAQ Adv/Dec 1535/1269. …NYSE Adv/Dec 1302/1575.

12:30PM ET

[BRIEFING.COM] The equity market has been trending sideways as of late, leaving the S&P 500 (-0.1%) within a one-point range over the last half hour of action.

European equities moved solidly lower on Tuesday, sending Germany's DAX, the UK's FTSE, and France's CAC lower by 1.5%, 0.9%, and 0.8%, respectively. Conversely, the euro has climbed 0.4% against the U.S. dollar to 1.2020, which places the single currency on track for its third win in a row. The euro has added 1.9% against the greenback since Friday after ECB President Mario Draghi failed to address the single currency's recent strength in his speech at the Jackson Hole Symposium.

In the bond market, U.S. Treasuries have given back a chunk of their earlier gains, but still trade in positive territory. The benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, is trading three basis points below its flat line at 2.13%.

Dow: +15.66… | Nasdaq: +9.72… | S&P: -1.65…

NASDAQ Adv/Dec 1349/1457. …NYSE Adv/Dec 1169/1699.

11:55AM ET

[BRIEFING.COM] Equity indices are trading mixed going into the afternoon session with the Nasdaq (+0.1%) and the Dow (+0.1%) holding slim gains while the S&P 500 (-0.1%) shows a slim loss.

United Technologies (UTX 117.34, +2.04) has jumped 1.8% in today's session following a Wall Street Journal report that the company is nearing a deal to buy Rockwell Collins (COL 130.71, +2.71) for a price of up to $140 per share. If the deal comes to fruition, it would create one of the world's biggest aircraft-equipment makers. COL shares are also higher, climbing 2.2%.

Thanks in part to UTX's positive performance, the industrial sector is trading atop the day's leaderboard with a gain of 0.4%. In addition, the sector has benefited from the positive performance of transports, which have pushed the Dow Jones Transportation Average higher by 0.5%.

Dow: +10.25… | Nasdaq: +7.25… | S&P: -2.42…

NASDAQ Adv/Dec 1219/1585. …NYSE Adv/Dec 1064/1809.

11:25AM ET

[BRIEFING.COM] The Dow (+0.1%) has popped into positive territory late this morning with around half of its components trading in positive territory.

Within the industrial average, Apple (AAPL 162.76, +1.28), United Health (UNH 196.75, +1.66), Caterpillar (CAT 116.05, +0.98), and Boeing (BA 239.05, +1.81) are the top performers, sporting gains of around 0.8% apiece. Boeing's positive performance is in line with fellow defense names and follows another North Korean missile launch, which crossed over the Japanese island of Hokkaido this morning.

On the flip side, Nike (NKE 52.52, -1.21) is by far the weakest component within the Dow, dropping 2.2%. Today's plunge has been in sympathy with shoe-retailer Finish Line (FINL 35.35, -0.35), which has plunged 17.4% on the heels of a very disappointing second quarter warning and reduced fiscal 2018 outlook.

Dow: +5.78… | Nasdaq: +2.10… | S&P: -2.95…

NASDAQ Adv/Dec 1070/1719. …NYSE Adv/Dec 926/1925.

10:55AM ET

[BRIEFING.COM] The major U.S. indices have ticked up a bit since the opening bell, with the S&P 500 trimming its loss to 0.2%. The Dow (-0.1%) and the Nasdaq (-0.1%) are outperforming the benchmark index and currently hover just a tick below their unchanged marks.

Today's sector standings show four sectors in the green--industrials (+0.1%), technology (+0.1%), consumer staples (+0.3%), and real estate (+0.1%)--and seven sectors in the red--financials (-0.8%), consumer discretionary (-0.4%), energy (-0.5%), materials (-0.7%), health care (-0.2%), utilities (unch), and telecom services (-0.1%).

The heavily-weighted financial sector has suffered amid broad weakness with large-cap names like Bank of America (BAC 23.45, -0.27) and Citigroup (C 67.08, -0.72) dropping 1.1% apiece. However, property and casualty insurers have shown relative strength after selling off yesterday in response to the damage caused by then-Hurricane Harvey.

Harvey has since been downgraded to a tropical storm, but is still wreaking havoc along the Texas coast.

Dow: -11.03… | Nasdaq: -2.93… | S&P: -4.01…

NASDAQ Adv/Dec 1096/1653. …NYSE Adv/Dec 948/1843.

10:30AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are up XXX% at XXX
Dollar index is currently down 0.26% at 91.97.
Oct WTI crude is down to start the day.
Futures are $0.31 lower to $46.26/barrel.
In other energy, Oct natural gas is down $0.001 at $2.96/MMBtu
Metals are performing well:
Gold futures began to spike following news yesterday of another North Korean missile launch, which flew over Japan.
Dec gold has gained $10.20 and trades at $1325.50/oz
Sept silver has added $0.134 and trades at $17.575/oz
Sept copper is up $0.0195 and trades at $3.0825/lb
Finally, agriculture:
Dec corn is $0.024 lower at $3.484/bu.
Nov soy is down $0.02 at $9.392/bu.
Dec wheat is down $0.03 at $4.25/bu.

Dow: -49.07… | Nasdaq: -21.09… | S&P: -9.23…

NASDAQ Adv/Dec 920/1831. …NYSE Adv/Dec 792/2002.

10:00AM ET

[BRIEFING.COM] The S&P 500 has trimmed its opening loss to 0.4%.

Just in, the consumer confidence reading for August rose to 122.9 from the prior month's revised reading of 120.0 (from 121.1). The Briefing.com consensus expected the survey to hit 120.3.

Dow: -45.45… | Nasdaq: -24.24… | S&P: -8.61…

NASDAQ Adv/Dec 898/1735. …NYSE Adv/Dec 872/1855.

09:40AM ET

[BRIEFING.COM] The U.S. equity market opened Tuesday's session in negative territory. The Nasdaq (-0.5%) and the Dow (-0.5%) currently hover in line with the benchmark S&P 500 (-0.5%).

Most sectors are trading lower in the opening minutes with the heavily-weighted financial sector (-1.1%) pacing the retreat. The materials space (-0.7%) also exhibits relative weakness, but the remaining laggards hold losses of no more than 0.6%. The consumer staples (unch), utilities (+0.1%), telecom services (+0.1%), and real estate (+0.3%) groups trade at the top of the leaderboard.

In the bond market, Treasuries are higher across the curve, sending the benchmark 10-yr yield five basis points lower to 2.11%. Today's last economic report--the Consumer Confidence report for August (Briefing.com consensus 120.3)--will be released shortly at 10:00 ET.

Dow: -90.46… | Nasdaq: -31.63… | S&P: -10.78…

NASDAQ Adv/Dec 860/1688. …NYSE Adv/Dec 775/1929.

09:10AM ET

[BRIEFING.COM] S&P futures vs fair value: -13.50. Nasdaq futures vs fair value: -44.90.

Equity markets are lower around the globe this morning following yet another North Korean missile launch--this one flying over Japan. The S&P 500 futures currently trade 14 points, or 0.6%, below fair value.

North Korea launched a mid-range missile over the Japanese island of Hokkaido this morning, marking the first time since 2009 that Pyongyang has fired over Japan's main islands. In response, Japan's Prime Minister Shinzo Abe called for an emergency meeting of the United Nations Security Council and U.S. President Donald Trump issued a statement, saying "[a]ll options are on the table."

Today's launch comes just a few weeks after a fiery exchange of rhetoric between the U.S. and North Korea and amid an annual joint military exercise between forces of the U.S. and South Korea, which typically infuriates Pyongyang.

Unsurprisingly, safe-haven assets are in demand this morning. U.S. Treasuries are higher across the curve, sending the benchmark 10-yr yield seven basis points lower to 2.10%. Meanwhile, gold is up 1.0% at a price of $1,328.00/ozt and the U.S. Dollar Index (91.78, -0.39) is down 0.4% with the greenback dropping 0.7% against the yen to 108.52 and 0.5% against the euro to 1.2034.

On the corporate front, Best Buy (BBY 60.20, -2.27) is down 3.6% in pre-market action despite beating both top and bottom line estimates and raising its guidance for the fiscal year. Finish Line (FINL 7.30, -3.12) is trading even lower in early action, plunging 30.1%, following a very disappointing second quarter warning and reduced fiscal 2018 outlook.

As for economic data, the June Case-Shiller 20-city Index hit 5.7%, which is in line with the Briefing.com consensus. The prior month's reading was left unrevised at 5.7%.

Today's last economic report--the Consumer Confidence report for August (Briefing.com consensus 120.3)--will be released at 10:00 ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -13.80. Nasdaq futures vs fair value: -43.90.

The S&P 500 futures trade 14 points, or 0.6%, below fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note after the day started with an early-morning missile test by North Korea. DPRK launched a mid-range missile, which headed northeast, falling into the Pacific Ocean east of Japan after flying over the Japanese Hokkaido island. U.S. President Donald Trump and Japan's Prime Minister Shinzo Abe agreed to increase the pressure on North Korea in response while South Korea's military conducted show of force drills. The morning developments kept risk tolerance in check.

In economic data:
Japan's July Household Spending -1.9% month-over-month (expected -0.5%; last 1.5%); -0.2% year-over-year (consensus 0.7%; last 2.3%). July Unemployment Rate held at 2.8%, as expected. BoJ Core CPI +0.4% year-over-year (expected 0.2%; last 0.3%)
Hong Kong's July Retail Sales +4.0% year-over-year (last 0.1%)
South Korea's September Manufacturing BSI Index 84 (last 81)
Australia's July HIA New Home Sales -3.7% month-over-month (last -6.9%)

---Equity Markets---

Japan's Nikkei fell 0.5%. Familymart lost 3.7% while Sony Financial Holdings, Konami, Fast Retailing, Dentsu, SUMCO, J Front Retailing, Nippon Paper Industries, and Softbank lost between 1.2% and 2.1%. On the upside, Kobe Steel, Yaskawa Electric, Eisai, Takeda Pharmaceutical, Tokyo Electron, and Fanuc climbed between 0.5% and 2.0%.
Hong Kong's Hang Seng slipped 0.4%. Energy-related names like China Shenhua Energy, China Petrol & Chemical, and CNOOC lost between 0.8% and 1.7% while property names were mixed. Wharf Holdings, Cheung Kong Properties, Hang Lung Properties, and China Overseas surrendered between 0.7% and 1.6% while China Resources Land, Link Reit, and Sino Land added between 0.2% and 1.0%.
China's Shanghai Composite edged up 0.1%. Xiamen C&D, WanXiang Doneed, Wuhan East Lake High Technology Group, Shanghai Wanye Enterprises, Tibet Tianlu, and Luoyang Glass posted gains between 4.3% and 6.5%.
India's Sensex dropped 1.1% amid broad weakness. NTPC, Sun Pharma, Reliance Industries, Coal India, Infosys, AXIS Bank, and Tata Steel posted losses between 1.0% and 2.8%.

Major European indices trade lower across the board as caution persists after a North Korean mid-range missile sailed over northern Japan before falling into the Pacific Ocean. North Korea's latest test was met with a show of force drill conducted by South Korea's military. Brexit talks have resumed, but the prospects for a breakthrough are dim. German Finance Minister Wolfgang Schaeuble said that cutting Greece's debt is not on the agenda and that Greece must continue carrying out reforms in order to continue receiving aid.

In economic data:
Germany's September GfK Consumer Climate 10.9 (expected 10.8; last 10.8)
France's July Consumer Spending +0.7% month-over-month (expected 0.6%; last -0.7%) and Q2 GDP +0.5% quarter-over-quarter, as expected (last 0.5%)
UK's August Nationwide HPI -0.1% month-over-month (expected 0.1%; last 0.2%); +2.1% year-over-year (consensus 2.5%; last 2.9%)

---Equity Markets---

UK's FTSE has slid 1.1% with consumer names and financials under pressure. Dixons Carphone, Morrison Supermarkets, Tesco, Burberry, Paddy Power, and British American Tobacco are down between 1.4% and 3.3% while Standard Life, Lloyds Banking, Prudential, RBS, and Barclays show losses between 2.0% and 2.3%.
France's CAC trades down 1.2% with all 40 components trading in the red. ArcelorMittal has slid 2.7% while Credit Agricole, Publicis Groupe, Airbus, Michelin, Renault, and Peugeot have given up between 1.8% and 2.8%.
Germany's DAX is lower by 1.8% amid broad weakness. Prosiebensat has plunged 13.1% after cutting its outlook while Commerzbank and Deutsche Bank hold respective losses of 3.3% and 2.8%. Bayer and Merck are both down near 2.2% while Volkswagen, Continental, and BMW have lost between 1.8% and 2.0%.


08:33AM ET

[BRIEFING.COM] S&P futures vs fair value: -11.50. Nasdaq futures vs fair value: -37.80.

The S&P 500 futures currently trade 12 points, or 0.5%, below fair value.

Tropical Storm Harvey has continued wreaking havoc in Texas--and in Houston in particular--producing record flooding and forcing the closure of the Port of Houston and many oil refineries along the Texas coast. Property insurance names sold off on Monday on concerns about rising claim costs associated with the storm, sending the heavily-weighted financial sector to the bottom of the day's leaderboard.

Crude oil is up 0.3% this morning at $46.70/bbl after sliding 2.7% on Monday. Meanwhile, gasoline futures are up 0.2% at $1.58/gallon after climbing 2.4% on Monday.

07:56AM ET

[BRIEFING.COM] S&P futures vs fair value: -12.50. Nasdaq futures vs fair value: -40.90.

After opening the week on a mixed note, the U.S. equity market is poised to open Tuesday's session in the red following yet another North Korean missile launch. The S&P 500 futures currently trade 13 points, or 0.5%, below fair value.

North Korea launched a mid-range missile over the Japanese island of Hokkaido this morning, marking the first time since 2009 that Pyongyang has fired over Japan's main islands. In response, Japan's Prime Minister Shinzo Abe called for an emergency meeting of the United Nations Security Council and U.S. President Donald Trump issued a statement condemning North Korea's actions, saying "[a]ll options are on the table."

Today's launch comes just a few weeks after a fiery exchange of rhetoric between the U.S. and North Korea and amid an annual joint military exercise between forces of the U.S. and South Korea, something that typically infuriates Pyongyang.

U.S. Treasuries are solidly higher this morning following the missile launch, leaving the benchmark 10-yr yield five basis points lower at 2.11%. Meanwhile, gold is up 0.8% at a price of $1,325.72/ozt and the U.S. Dollar Index (91.71, -0.46) is down 0.5% with the greenback dropping 0.6% against the yen to 108.59 and 0.5% against the euro to 1.2043.

On the data front, investors will receive two economic reports on Tuesday--the Case-Shiller Home Price Index for June (Briefing.com consensus 5.7%) and the Consumer Confidence report for August (Briefing.com consensus 120.3). The two reports will be released at 9:00 ET and 10:00 ET, respectively.

In U.S. corporate news:

Best Buy (BBY 64.20, +1.72): +2.8% after beating both top and bottom line estimates and raising its guidance for the fiscal year.
Finish Line (FINL 7.34, -3.08): -29.6% after reducing fiscal year 2018 guidance and giving other weak near-term guidance. The company's shares were also downgraded to 'Sell' from 'Neutral' at Citigroup.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note after the day started with an early-morning missile test by North Korea. Japan's Nikkei -0.5%, Hong Kong's Hang Seng -0.4%, China's Shanghai Composite +0.1%, India's Sensex -1.1%.
In economic data:
Japan's July Household Spending -1.9% month-over-month (expected -0.5%; last 1.5%); -0.2% year-over-year (consensus 0.7%; last 2.3%). July Unemployment Rate held at 2.8%, as expected. BoJ Core CPI +0.4% year-over-year (expected 0.2%; last 0.3%)
Hong Kong's July Retail Sales +4.0% year-over-year (last 0.1%)
South Korea's September Manufacturing BSI Index 84 (last 81)
Australia's July HIA New Home Sales -3.7% month-over-month (last -6.9%)
In news:
DPRK launched a mid-range missile, which headed northeast, falling into the Pacific Ocean east of Japan after flying over the Japanese Hokkaido island.
U.S. President Donald Trump and Japan's Prime Minister Shinzo Abe agreed to increase the pressure on North Korea in response while South Korea's military conducted show of force drills.

Major European indices trade lower across the board as caution persists after a North Korean mid-range missile sailed over northern Japan before falling into the Pacific Ocean. UK's FTSE -1.1%, France's CAC -1.3%, Germany's DAX -1.7%.
In economic data:
Germany's September GfK Consumer Climate 10.9 (expected 10.8; last 10.8)
France's July Consumer Spending +0.7% month-over-month (expected 0.6%; last -0.7%) and Q2 GDP +0.5% quarter-over-quarter, as expected (last 0.5%)
UK's August Nationwide HPI -0.1% month-over-month (expected 0.1%; last 0.2%); +2.1% year-over-year (consensus 2.5%; last 2.9%)
In news:
Brexit talks have resumed, but the prospects for a breakthrough are dim.
German Finance Minister Wolfgang Schaeuble said that cutting Greece's debt is not on the agenda and that Greece must continue carrying out reforms in order to continue receiving aid.


05:54AM ET

[BRIEFING.COM] S&P futures vs fair value: -16.00. Nasdaq futures vs fair value: -46.60.
05:54AM ET

[BRIEFING.COM] Nikkei

...19362.55...-87.40

...-0.50%

. Hang Seng

...27765...-98.30

...-0.40%

.
05:54AM ET

[BRIEFING.COM] FTSE

...7306.75...-94.70

...-1.30%

. DAX

...11910...-213.40

...-1.80%

.
04:20PM ET

[BRIEFING.COM] It was a mixed outing on Wall Street to begin the week, as trading volume and conviction were both on the light side. The Nasdaq Composite (+0.3%) and Russell 2000 (+0.4%) were today's winning standouts among the major indices while the S&P 500 (+0.05%) and Dow Jones Industrial Average (-0.02%) lagged behind.

Today's session wasn't accompanied by any market-moving headlines, so much of the trading interest revolved around specific stocks and/or industry groups.

One stock of note that outperformed was Apple (AAPL 161.47, +1.61, +1.0%). The market's most heavily-weighted issue gained 1.0% on the back of a report that the company is planning a product event for Tuesday, September 12. It is widely thought the event will feature the introduction of the iPhone 8, which has been eagerly anticipated by legions of customers and investors.

Apple's relative strength lent a measure of support to the broader market along with the biotech stocks, which jumped in the wake of an announcement from Gilead Sciences (GILD 74.69, +0.90, +1.2%) that it is going to acquire Kite Pharmaceuticals (KITE 178.05, +38.95, +28.0%) for approximately $11.9 billion, or $180.00 per share, in cash.

The offer from Gilead was a 29% premium over Kite's closing price on Friday. The iShares Nasdaq Biotechnology ETF (IBB 316.89, +5.84, +1.9%) advanced 1.9%.

Some other trading activity of note surrounded plays related to Hurricane Harvey. Property insurance stocks were laggards all day on concerns about rising claim costs associate with the storm, which produced record flooding and forced the closure of the Port of Houston and many oil refineries along the Texas coast.

While gasoline futures traded higher on news of the closures, crude futures settled the day 2.7% lower at $46.57 per barrel on concerns about weaker demand for oil in the short-term due to the refinery shutdowns.

Separately, home improvement retailers Home Depot (HD 151.20, +1.55, +1.0%), Lowe's (LOW 73.80, +0.45, +0.6%), and Lumber Liquidators (LL 38.70, +1.64, +4.4%) moved up on the notion that they will be beneficiaries of remodeling/refurbishment/new construction activity in the affected areas.

The energy sector (-0.5%) was one of the day's biggest laggards, but it did manage to cut its losses in half after oil prices rebounded off their lows of $46.15. On a related note, there were reports that Saudi Arabia and Russia are seeking a 3-month extension to the oil production cut deal that has been embraced by OPEC and certain non-OPEC nations.

The financial sector (-0.5%) was the other key laggard of the day, yet relative strength in the health care (+0.6%) and information technology (+0.3%) sectors offset the weakness elsewhere and enabled the S&P 500 to eke out a slim gain to begin the week.

Elsewhere, the Treasury market manged some modest gains of its own, bolstered by the strong demand seen at the 2-yr note and 5-yr note auctions, as well as a modicum of safe-haven buying interest in front of next month's budget and debt ceiling debates. The 10-yr note yield dipped one basis point to 2.16%.

The dollar was on the defensive throughout the day, which pushed the U.S. Dollar Index (92.26, -0.48, -0.5%) to its lowest close since 2015.

Today's lone economic release showed a widening in the goods deficit to $65.1 billion in July (Briefing.com consensus -$64.3 billion) from $64.0 billion in June and a 0.4% increase in Wholesale Inventories (Briefing.com consensus +0.2%) in July versus a 0.6% increase in June.

Neither the stock market nor the Treasury market showed much reaction to that report. On Tuesday the economic calendar will feature the Case-Shiller Home Price Index for June (Briefing.com consensus 5.7%) at 9:00 a.m. ET and the Consumer Confidence report for August (Briefing.com consensus 120.3) at 10:00 a.m. ET.

Nasdaq Composite +16.7% YTD
Dow Jones industrial Average +10.4% YTD
S&P 500 +9.2% YTD
Russell 2000 +1.8% YTD

Dow: -5.27… | Nasdaq: +17.37… | S&P: +1.19…

NASDAQ Adv/Dec 1413/1454. …NYSE Adv/Dec 1385/1545.

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 5 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