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 Post subject: August 30th Wednesday Trade Results - Profits $1750.00
PostPosted: Wed Aug 30, 2017 4:37 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
TheStrategyLab Reviews: http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
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Twitter @ http://twitter.com/wrbtrader (24/7)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $1750.00 dollars or +35.00 points, Light Crude Oil CL ($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 @ $1750.00 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 = $5.00 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=2634

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.

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


The Market at 04:25PM ET
Dow: +27.06… | Nasdaq: +66.42… | S&P: +11.29…
NASDAQ Vol: 1.7 bln… Adv: 1708… Dec: 1073…
NYSE Vol: 646.3 mln… Adv: 1826… Dec: 1095…

Moving the Market

ADP Employment Change Report for August beats estimates (237K actual vs 180K Briefing.com consensus)

Second estimate of Q2 GDP comes in better than expected (+3.0% actual vs +2.7% Briefing.com consensus)

Buying momentum as the S&P 500 moves above its 50-day simple moving average (2,451)

Biotech & semiconductor stocks rally; underpin tech-heavy Nasdaq

Sector Watch
Strong: Financials, Consumer Discretionary, Materials, Technology, Health Care
Weak: Industrials, Energy, Consumer Staples, Utilities, Telecom Services, Real Estate
04:25PM ET

[BRIEFING.COM] The equity market rallied on Wednesday as investors continued to buy the dip that pulled the major U.S. indices from their all-time highs earlier this month. The S&P 500 (+0.5%) registered its fourth-consecutive victory, marking its longest winning streak in three months, and settled above its 50-day simple moving average (2,451.08). The Nasdaq (+1.1%) outperformed while the Dow (+0.1%) lagged.

Wednesday's session began in the wake of a strong batch of economic data, which included both a better than expected ADP National Employment Report (237,000 actual vs 180,000 Briefing.com consensus) and an above-consensus second estimate of second quarter GDP (3.0% actual vs 2.7% Briefing.com consensus).

Stocks opened the session relatively flat as investors took a moment to digest the hotter than expected reports--weighing the thought of economic growth against the thought that said growth might help justify a further tightening of monetary policy. The bulls eventually won out and then led a slow and steady climb into the afternoon.

Biotechnology stocks showed notable strength throughout the session, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 324.32, +6.50), which settled higher by 2.1%. Incyte (INCY 138.27, +13.30) led the biotech rally, jumping 10.6%, following news that the company, and partner Eli Lilly (LLY 80.49, +1.94), will resubmit a new drug application for baricitinib by the end of January 2018.

The influential health care sector (+0.6%), which houses biotech names, finished a step ahead of the broader market, near the top of the leaderboard. The top-weighted technology sector (+0.8%) also outperformed, as did the consumer discretionary (+0.7%) and materials (+0.7%) groups.

Within the tech space, chipmakers exhibited notable strength, sending the PHLX Semiconductor Index higher by 1.7%. Analog Devices (ADI 83.72, +4.17) led the semiconductor rally after beating both top and bottom line estimates and issuing above-consensus guidance. ADI shares climbed 5.2% to a fresh three-month high.

On the flip side, select countercyclical sectors underperformed, including consumer staples (unch), utilities (-0.4%), and telecom services (-0.6%). The energy sector (unch), which is considered to be a cyclical group, also struggled as the price of crude oil dropped for the fourth session in a row.

The commodity held a modest gain in the early afternoon, but moved sharply lower following an EPA announcement approving emergency fuel waivers for Gulf and East Coast states in response to Tropical Storm Harvey. WTI crude futures finished lower by 0.6% at a price of $45.96/bbl.

In the bond market, U.S. Treasuries finished the midweek session on a flattish note with the benchmark 10-yr yield settling unchanged at 2.14%. Meanwhile, the 2-yr yield climbed one basis point to 1.33% after trading as high as 1.35% in the morning session.

Also of note, the U.S. Dollar Index (92.86, +0.59) climbed 0.6% after touching a multi-year low on Tuesday and the CBOE Volatility Index (VIX 11.20, -0.50) dropped 4.3%.

Reviewing Wednesday's economic data, which included the ADP Employment Change Report for August, the second estimate of second quarter GDP, and the weekly MBA Mortgage Applications Index:

The ADP National Employment Report showed an increase of 237,000 in August (Briefing.com consensus 180,000) while the July reading was revised higher to 201,000 from 178,000.
The second estimate of second quarter GDP pointed to an expansion of 3.0%, while the Briefing.com consensus expected a reading of 2.7%. The first estimate came in at 2.6% last month.
The key takeaway from the report is that it was driven by a pickup in both consumer and business spending, which is typically a good mix for accelerating economic growth.
The weekly MBA Mortgage Applications Index dropped 2.3% to follow last week's 0.5% decrease.

On Thursday, investors will receive a slew of economic reports, including July Personal Income (Briefing.com consensus 0.3%), Personal Spending (Briefing.com consensus 0.4%), and core PCE Prices (Briefing.com consensus 0.1%) at 8:30 ET, Initial Claims (Briefing.com consensus 236K) also at 8:30 ET, August Chicago PMI (Briefing.com consensus 58.9) at 9:45 ET, and July Pending Home Sales (Briefing.com consensus 0.5%) at 10:00 ET.

Nasdaq Composite +18.3% YTD
Dow Jones Industrial Average +10.8% YTD
S&P 500 +9.8% YTD
Russell 2000 +2.5% YTD

Dow: +27.06… | Nasdaq: +66.42… | S&P: +11.29…

NASDAQ Adv/Dec 1708/1073. …NYSE Adv/Dec 1826/1095.

03:30PM ET

[BRIEFING.COM] Commodities end the day noticeably lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are down 0.51% at 83.0726
Dollar index is currently up 0.68% at 92.88.
Oct WTI crude is down on the day.
Crude oil experienced a quick drop mid-day following an EPA announcement approving emergency fuel waivers for Gulf and East Coast states.
Futures settled $0.26 lower to $45.95/barrel.
In other energy, Oct natural gas settled down $0.04 at $2.94/MMBtu
On to metals:
Dec gold lost $4.90 to settle at $1313.80/oz, while Sept silver dropped $0.10 to $17.41/oz
Sept copper lost $0.02 to $3.06/lb
Finally, agriculture:
Dec corn is settled $0.04 lower at $3.45/bu.
Nov soy is was down $0.05 at $9.32/bu.
Dec wheat is settled down $0.01 at $4.29/bu.

Dow: +26.58… | Nasdaq: +68.9… | S&P: +11.81…

NASDAQ Adv/Dec 1809/1029. …NYSE Adv/Dec 1827/1099.

02:55PM ET

[BRIEFING.COM] Equity indices are hovering near their best marks of the day moving into the final stretch. The S&P 500 currently sports a gain of 0.5% and is on track to post its fourth win in a row.

Nine of the eleven sectors are trading higher this afternoon with the technology (+0.8%) and materials (+0.8%) spaces leading the charge. The financials (+0.6%), consumer discretionary (+0.7%), and health care (+0.7%) spaces also exhibit relative strength. On the flip side, the utilities (-0.3%) and telecom services (-0.4%) spaces are currently trading in negative territory.

On the earnings front, only a couple of notable companies will deliver their quarterly reports on Thursday morning, namely Dollar General (DG 76.81, -0.08) and Campbell Soup (CB 50.57, -0.24).

Dow: +38.13… | Nasdaq: +67.67… | S&P: +13.24…

NASDAQ Adv/Dec 1793/1055. …NYSE Adv/Dec 1801/1120.

02:25PM ET

[BRIEFING.COM] The major U.S. indices continue hovering near their session highs this afternoon with the Nasdaq (+1.1%) showing relative strength.

Transports have had a solid showing so far today, pushing the Dow Jones Transportation Average higher by 1.0%. Landstar System (LSTR 92.50, +4.50) is the DJTA's strongest component, jumping 5.2% to a fresh all-time high, after the company's shares were upgraded to 'Overweight' from 'Equal-Weight' at Stephens. For the week, the DJTA is higher by 2.2%.

Some analysts project that trucking capacity will tighten in the Texas coastal region--leading to a rise in prices--as railroad names like Kansas City Southern (KSU 102.71, -0.26) and Union Pacific (UNP 105.39, +0.42) have suspended operations in the region due to Tropical Storm Harvey.

Dow: +36.07… | Nasdaq: +70.68… | S&P: +13.14…

NASDAQ Adv/Dec 1740/1099. …NYSE Adv/Dec 1698/1181.

01:55PM ET

[BRIEFING.COM] Equity indices have continued chugging along this afternoon, advancing to new session highs. The Nasdaq now sports a gain of 1.0% while the S&P 500 and the Dow trade higher by 0.5% and 0.2%, respectively.

The top-weighted technology sector (+0.8%) is hovering near the top of today's sector standings, but its heaviest component by market cap--Apple (AAPL 163.26, +0.35)--has struggled to keep pace with the broader market. Instead, the tech group has leaned on positive performances from the likes of Microsoft (MSFT 73.98, +0.93), Facebook (FB 169.98, +1.91), and Alphabet (GOOGL 944.53, +8.75).

Chipmakers have also provided the tech sector with support, evidenced by the 1.4% increase in the PHLX Semiconductor Index, which is currently trading at a two-week high. Analog Devices (ADI 82.93, +3.38) has been one of the top semiconductor names today, climbing 4.2%, after beating both top and bottom line estimates and issuing above-consensus guidance.

Dow: +45.97… | Nasdaq: +67.58… | S&P: +13.31…

NASDAQ Adv/Dec 1815/1013. …NYSE Adv/Dec 1735/1122.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to bolster modest gains in afternoon trading as we reach the midpoint of the trading week.

A look inside the Dow Jones Industrial Average shows that Cisco (CSCO 32.05, +0.57), Goldman Sachs (GS 223.71, +3.75), & Microsoft (MSFT 73.83, +0.78) are outperforming.

Conversely, General Electric (GE 24.20, -0.24) is the worst-performing Dow component as shares continue their downtrend to fresh multi-year lows.

For the week, the DJIA is now up 0.37%.

Dow: +24.24… | Nasdaq: +53.21… | S&P: +9.77…

NASDAQ Adv/Dec 1876/977. …NYSE Adv/Dec 1772/1069.

01:00PM ET

[BRIEFING.COM] The S&P 500 (+0.3%) is modestly higher this afternoon, wrestling with its 50-day simple moving average (2,450.96), while the Dow (unch) lags and the Nasdaq (+0.7%) outperforms. Both the S&P 500 and the Nasdaq are currently hovering near their best marks of the day. Trading volume remains light, as it has for the majority of the month.

This morning's batch of economic data turned out to be a pleasant surprise as both the ADP Employment Change Report for August and the second estimate of second quarter GDP beat came in better than expected. The ADP Report showed an increase of 237,000 in August (Briefing.com consensus 180,000) while the July reading was revised higher to 201,000 from 178,000.

Meanwhile, the second estimate of second quarter GDP pointed to an expansion of 3.0%, while the Briefing.com consensus expected a reading of 2.7%. The first estimate came in at 2.6% last month.

Despite the upbeat readings, Treasury yields have slipped from their session highs since the reports were released. The 2-yr yield is up two basis points at 1.33%, but traded as high as 1.35% early this morning. Meanwhile, the benchmark 10-yr yield is flat at 2.13% after holding a modest gain.

Similarly, the U.S. Dollar Index (92.67, +0.40) hovers a step below its session high (92.80), but is still trading in positive territory, up 0.5%. The greenback has climbed 0.5% against both the euro (1.1913) and the yen (110.23).

In the equity market, eight of the eleven sectors are currently trading in the green. The financials (+0.5%), consumer discretionary (+0.6%), materials (+0.6%), technology (+0.5%), and health care (+0.4%) groups all exhibit relative strength.

Both biotechnology and semiconductor stocks have rallied today, helping the tech-heavy Nasdaq keep ahead of the broader market. The iShares Nasdaq Biotechnology ETF (IBB 323.14, +5.32) has advanced 1.7% to a one-month high with Incyte (INCY 135.23, +10.23) and Gilead Sciences (GILD 79.58, +3.84) leading the charge, jumping 8.1% and 5.0%, respectively.

Meanwhile, chipmakers have sent the PHLX Semiconductor Index higher by 1.1%. Analog Devices (ADI 82.50, +2.94) shows notable strength, climbing 3.7%, after beating both top and bottom line estimates and issuing above-consensus guidance. Today's advance leaves ADI shares near a three-month high.

On the flip side, the consumer staples (-0.1%), utilities (-0.3%), and telecom services (-0.4%) spaces are trading in the red. The underperformance of these three groups points to an underlying risk-on tone in the equity market as all three are countercyclical in nature and tend to lag when investor sentiment is trending higher.

Reviewing Wednesday's economic data, which included the ADP Employment Change Report for August, the second estimate of second quarter GDP, and the weekly MBA Mortgage Applications Index:

The ADP National Employment Report showed an increase of 237,000 in August (Briefing.com consensus 180,000) while the July reading was revised higher to 201,000 from 178,000.
The second estimate of second quarter GDP pointed to an expansion of 3.0%, while the Briefing.com consensus expected a reading of 2.7%. The first estimate came in at 2.6% last month.
The key takeaway from the report is that it was driven by a pickup in both consumer and business spending, which is typically a good mix for accelerating economic growth.
The weekly MBA Mortgage Applications Index dropped 2.3% to follow last week's 0.5% decrease.

Dow: +12.46… | Nasdaq: +48.96… | S&P: +8.25…

NASDAQ Adv/Dec 1821/1020. …NYSE Adv/Dec 1671/1155.

12:30PM ET

[BRIEFING.COM] The stock market is trading near its best mark of the day early this afternoon with the S&P 500 sporting a gain of 0.3%.

Chipmakers are outperforming today, evidenced by the 0.8% increase in the PHLX Semiconductor Index, after Analog Devices (ADI 82.31, +2.76) beat both top and bottom line estimates and issued above-consensus guidance. The semiconductor company has climbed 3.5% in today's session and now sits at its best level in nearly two months.

Unsurprisingly, the top-weighted technology sector (+0.4%) is trading a step ahead of the broader market amid chipmakers' positive performance. Only the financials (+0.5%), consumer discretionary (+0.5%), and materials (+0.6%) spaces hold wider gains for the day.

Dow: -1.24… | Nasdaq: +40.01… | S&P: +6.30…

NASDAQ Adv/Dec 1767/1055. …NYSE Adv/Dec 1663/1168.

11:55AM ET

[BRIEFING.COM] Stocks have been trending sideways as of late, keeping the S&P 500 (+0.2%) within a two-point range over the last 30 minutes of action.

Biotechnology names have exhibited particular strength today, sending the iShares Nasdaq Biotechnology ETF (IBB 322.19, +4.37) higher by 1.4%. Incyte (INCY 132.90, +7.93) is leading the biotech rally with a gain of 6.4% following news that the company, and partner Eli Lilly (LLY 80.39, +1.84), will resubmit their new drug application for baricitinib before the end of January 2018. The new application will include safety and efficacy data that the previous filing, which was rejected back in April, did not.

The influential health care sector (+0.3%), which houses biotechnology names, trades slightly ahead of the broader market. For the week, the health care group hovers with the technology sector at the top of the sector standings. Both groups currently hold week-to-date gains of 1.0% apiece.

Dow: -9.14… | Nasdaq: +34.78… | S&P: +5.25…

NASDAQ Adv/Dec 1704/1097. …NYSE Adv/Dec 1580/1221.

11:25AM ET

[BRIEFING.COM] The S&P 500 (+0.2%) is currently wrestling with its 50-day simple moving average (2,450.96), which has acted as a level of resistance over the last two weeks.

Financials are still going strong this morning, bouncing back from a two-day slide. Large-cap names like Goldman Sachs (GS 222.74, +2.78), Bank of America (BAC 23.83, +0.37), and Citigroup (C 68.29, +0.81) are among the financial sector's top performers, sporting gains between 1.2% and 1.6% The financial space is currently up 0.5%, trimming its week-to-date loss to 0.4%.

In the bond market, U.S. Treasuries have come off their session lows in recent action, but are still trading mostly lower. The 2-yr yield is up two basis points at 1.33%, but traded as high as 1.35% earlier this morning. Meanwhile, the benchmark 10-yr yield is up one basis point at 2.14, hovering near a two-month low.

Dow: -9.49… | Nasdaq: +33.86… | S&P: +4.40…

NASDAQ Adv/Dec 1732/1085. …NYSE Adv/Dec 1512/1254.

10:55AM ET

[BRIEFING.COM] The major averages have ticked up to new session highs in recent action. The Nasdaq (+0.6%) is pacing today's advance, followed by the S&P 500 (+0.2%) and then the Dow (+0.1%).

Six sectors currently trade in the green--financials (+0.4%), consumer discretionary (+0.4%), industrials (unch), materials (+0.3%), technology (+0.2%), and health care (+0.2%)--while five groups trade in the red--energy (-0.3%), consumer staples (unch), utilities (-0.3%), telecom services (-0.4%), and real estate (-0.1%).

For the week ended August 25, the Department of Energy reported a draw of 5.4 million barrels in U.S. crude stocks, which is much larger than the 1.8 million barrel decrease the consensus was expecting. WTI crude held a loss of 0.6% going into the release and now trades lower by 0.8% at a price of $46.06/bbl.

Dow: +17.00… | Nasdaq: +35.74… | S&P: +5.50…

NASDAQ Adv/Dec 1708/1074. …NYSE Adv/Dec 1529/1241.

10:30AM ET

[BRIEFING.COM] Commodities begin the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are down 0.31% at 83.241
Dollar index is currently up 0.54% at 92.75.
Oct WTI crudemoves lower following EIA inventory data.
The data showed a draw of 5.4 mln barrels.
Futures are $0.34 lower to $46.10/barrel.
In other energy, Oct natural gas is down $0.043 at $2.94/MMBtu
Metals are down to start the day:
Dec gold lost $4.50 and trades at $1314.50/oz, while Sept silver dropped $0.016 to $17.41/oz
Sept copper lost $0.0095 to $3.0715/lb
Finally, agriculture:
Dec corn is $0.022 lower at $3.464/bu.
Nov soy is down $0.04 at $9.332/bu.
Dec wheat is down $0.01 at $4.286/bu.

Dow: +6.2… | Nasdaq: +26.64… | S&P: +3.08…

NASDAQ Adv/Dec 1533/1182. …NYSE Adv/Dec 1336/1378.

10:00AM ET

[BRIEFING.COM] Equities have ticked up since the opening bell, pushing the S&P 500 (+0.1%) slightly above its unchanged mark.

Financials have gotten off to a good start this morning with large-cap names like Goldman Sachs (GS 222.47, +2.51) and Bank of America (BAC 23.74, +0.28) leading the charge, adding around 1.1% apiece. The heavily-weighted financial sector (+0.4%) currently hovers at the top of the day's leaderboard, looking to break its two-session losing streak.

On the flip side, the energy sector (-0.4%) is underperforming, moving lower in tandem with crude oil, which is down 0.7% at $46.10/bbl. The Department of Energy will release its weekly crude inventory report shortly at 10:30 ET.

Dow: -7.77… | Nasdaq: +26.42… | S&P: +2.57…

NASDAQ Adv/Dec 1470/1140. …NYSE Adv/Dec 1243/1395.

09:40AM ET

[BRIEFING.COM] The major U.S. indices opened the midweek session mostly flat with the Nasdaq (+0.3%) showing relative strength.

Nearly all sectors are currently trading in negative territory, but losses have been modest for the most part; the energy (-0.6%) and telecom services (-0.5%) groups exhibit relative weakness, but the remaining laggards show losses of no more than 0.3%. The top-weighted financials (+0.2%) and technology (+0.2%) groups trade at the top of the leaderboard.

In the bond market, U.S. Treasuries are lower across the curve with shorter-dated issues experiencing the heaviest selling. The 2-yr yield is up four basis points at 1.35% while the 10-yr yield is up just one basis point at 2.14%.

Dow: -11.44… | Nasdaq: +16.83… | S&P: +0.50…

NASDAQ Adv/Dec 1341/1175. …NYSE Adv/Dec 1094/1477.

09:10AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: +2.60.

Earlier this morning, it appeared that the U.S. equity market would open Wednesday's session with a slim gain, but equity futures have been ticking lower as of late and now point to a slightly lower start to the midweek session. The S&P 500 futures currently trade three points, or 0.1%, below fair value.

This morning's batch of economic data proved to be a pleasant surprise with both the ADP National Employment Report for August and the second estimate of second quarter GDP coming in better than expected. The ADP Report showed an increase of 237,000 in August (Briefing.com consensus 180,000) while the July reading was revised higher to 201,000 from 178,000.

Meanwhile, the second estimate of second quarter GDP pointed to an expansion of 3.0%, while the Briefing.com consensus expected a reading of 2.7%. The first estimate came in at 2.6% last month.

The U.S. Treasury market had a largely muted response to the better than expected readings. Treasuries are lower across the curve, but selling has been heaviest at the front end, pushing the 2-yr yield three basis points higher to 1.34%. The benchmark 10-yr yield is up one basis point at 2.14%.

Crude oil is down 1.0% at $46.00/bbl following last night's weekly API crude inventory report, which showed a draw of 5.8 million barrels for the week ended August 25. The EIA's more influential inventory report will be released today at 10:30 ET. Tropical Storm Harvey, which has forced the closure of many refineries along the Texas coast, also remains a factor in the crude futures market.

In corporate news, Analog Devices (ADI 82.76, +3.21) is up 4.0% in pre-market trade after beating both top and bottom line estimates and raising its fourth quarter guidance. Similarly, Vera Bradley (VRA 11.12, +1.05) has jumped 10.4% after reporting better than expected earnings.

On the flip side, H&R Block (HRB 27.55, -1.68) has dropped 5.8% despite reporting better than expected revenues and in-line earnings.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: +6.40.

The S&P 500 futures trade one point below fair value.

Equity indices in the Asia-Pacific region ended Wednesday on a higher note, taking a cue from Tuesday's rebound on Wall Street. China's Foreign Minister Wang Yi said that China will abide "fully and completely" by UN resolutions, but added that China opposes unilateral sanctions against North Korea. North Korea's Supreme Leader Kim Jong-un was quoted by KCNA as saying Tuesday's launch was a meaningful prelude to containing Guam. China's Finance Minister Xiao Jie said the growth of hidden debt will be offset with prudent steps to diffuse local debt risk. Overnight comments from Reserve Bank of New Zealand Governor Graeme Wheeler indicate the RBNZ would like to see a lower exchange rate. Nikkei reported that Japan's government may reduce its budget request for 2018 to JPY98 trillion.

In economic data:
Japan's July Retail Sales +1.9% year-over-year (consensus 1.0%; last 2.1%)
Australia's Q2 Construction Work Done +9.3% quarter-over-quarter (expected 1.0%; last 0.9%). July Building Approvals -1.7% month-over-month (expected -5.0%; last 11.7%) and July Private House Approvals 0.0% (last 4.0%)
New Zealand's July Building Consents -0.7% month-over-month (last -1.3%)

---Equity Markets---

Japan's Nikkei gained 0.7%. Pacific Metals jumped 10.3% while Tosoh, Familymart, Sony, Comsys Holdings, Nippon Meat Packers, Sapporo Holdings, Yamaha, Nippon Electric Glass, and Kikkoman advanced between 1.9% and 3.6%. On the downside, SUMCO, Sumitomo Metal Mining, Dainippon Screen Manufacturing, and Toho lost between 0.7% and 2.9%.
Hong Kong's Hang Seng rose 1.2% with energy-related names showing relative strength. China Shenhua Energy jumped 4.2% while China Petrol & Chemical spiked 2.9%, and CNOOC advanced 1.2%. Financials like Bank of East Asia, HSBC, Hang Seng Bank, BoC Hong Kong, and ICBC posted gains between 1.2% and 2.1%.
China's Shanghai Composite shed 0.1%. Shanghai Fosun Pharmaceutical, Shanghai Prosolar Resources, Anhui Golden Seed Winery, Xiamen International Airport, Wingtech Technology, and Hareon Solar Technology lost between 2.5% and 4.8%.
India's Sensex added 0.8% amid gains in most components. Reliance Industries, Adani Ports, Coal India, Tata Steel, Hindustan Unilever, Hero MotoCorp, and Maruti Suzuki climbed between 0.6% and 2.1%.

Major European indices trade in the green with Italy's MIB (+0.4%) struggling to keep pace with other markets. The British government has been notified that a transition deal lasting more than two years is very likely to be challenged by the European Court of Justice or voted down in the German parliament. British Prime Minister Theresa May reiterated that no Brexit deal is better than a bad deal.

In economic data:
Eurozone August Business and Consumer Survey 111.9 (expected 111.3; last 111.3)
UK's July Mortgage Lending GBP3.60 billion (expected GBP3.50 billion; last GBP4.10 billion). Net Lending to Individuals GBP4.80 billion (expected GBP5.30 billion; last GBP5.50 billion)
Italy's July PPI 0.0% month-over-month (last 0.4%); +1.0% year-over-year (last 3.1%)
Spain's August CPI +0.2% month-over-month (last -0.7%); +1.6% year-over-year (consensus 1.7%; last 1.5%)
Swiss July Consumption Indicator 1.38 (last 1.30), August KOF Leading Indicators 104.1 (expected 107.0; last 108.0), and August ZEW Expectations 25.0 (last 34.7)

---Equity Markets---

France's CAC is higher by 0.7% amid gains in most components. Vivendi has jumped 2.8% while ArcelorMittal, Bouygues, Valeo, Safran, Airbus Group, Kering, Louis Vuitton, and Cap Gemini are up between 0.8% and 2.3%. Credit Agricole is the weakest performer, falling 0.6% while peers AXA, BNP Paribas, and Societe Generale hold gains between 0.5% and 1.1%.
Germany's DAX trades up 0.8%. Adidas leads, rising 2.1%, while growth-sensitive names like HeidelbergCement, Thyssenkrupp, BASF, Linde, Siemens, and SAP are up between 0.6% and 1.7%. Automakers like BMW, Daimler, and Volkswagen sport gains between 0.5% and 0.7%.
UK's FTSE has added 0.6%. Consumer names like ITV, Sainsbury, Paddy Power, Associated British Foods, Barratt Developments, Morrison Supermarkets, and Kingfisher are up between 1.4% and 2.8%. On the downside, Lloyds Banking, Old Mutual, RBS, and Standard Life are down between 0.3% and 0.5%.
Italy's MIB is up 0.4%. Buzzi Unicem, Freni Brembo, Ferrari, and Fiat are up between 1.1% and 3.6%. On the downside, UniCredit, Mediaset, and UBI Banca are down between 0.2% and 1.5%.

08:30AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +12.40.

The S&P 500 futures trade one point above fair value.

Released not long ago, the ADP National Employment Report showed an increase of 237,000 in August (Briefing.com consensus 180,000) while the July reading was revised higher to 201,000 from 178,000.

Separately, the second estimate of second quarter GDP pointed to an expansion of 3.0%, while the Briefing.com consensus expected a reading of 2.7%. The first estimate came in at 2.6% last month.

07:55AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +10.80.

Equity futures are ticking higher this morning following yesterday's come-from-behind victory--in which investors successfully overcame heightened geopolitical tensions following yet another North Korean ballistic missile launch. The S&P 500 futures currently trade two points, or 0.1%, above fair value.

The ADP Employment Change Report for August (Briefing.com consensus 180K), which will be released at 8:15 ET, has the potential to move the market a bit this morning as it is often seen as a prelude to Friday's more influential Employment Situation Report (Briefing.com consensus 183K). However, the ADP reading is always taken with a grain of salt as it often deviates sharply from the jobs report.

In addition, investors will also receive the second estimate of second quarter GDP (Briefing.com consensus 2.7%). The report will cross the wires at 8:30 ET. Also of note, the weekly MBA Mortgage Applications Index dropped 2.3% to follow last week's 0.5% decrease.

Crude oil is trading lower by 0.6% at $46.17/bbl following last night's weekly API crude inventory report, which showed a draw of 5.8 million barrels for the week ended August 25. The EIA's more influential inventory report will be released today at 10:30 ET. Tropical Storm Harvey, which has forced the closure of many refineries along the Texas coast, also remains a factor in the futures market.

U.S. Treasuries are trading modestly lower this morning, giving back a portion of yesterday's gains; the benchmark 10-yr yield is up one basis point at 2.14%. Meanwhile, the U.S. Dollar Index (92.56, +0.29) is up 0.3% with the greenback adding 0.4% against the euro (1.1928) and 0.3% against the yen (110.06).

In U.S. corporate news:

H&R Block (HRB 28.00, -1.23): -4.2% despite reporting better than expected revenues.
Ollie's Bargain Outlet (OLLI 41.86, -1.44): -3.3% despite beating both top and bottom line estimates and raising its 2018 guidance.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a higher note, taking a cue from Tuesday's rebound on Wall Street. Japan's Nikkei +0.7%, Hong Kong's Hang Seng +1.2%, China's Shanghai Composite -0.1%, India's Sensex +0.8%.
In economic data:
Japan's July Retail Sales +1.9% year-over-year (consensus 1.0%; last 2.1%)
Australia's Q2 Construction Work Done +9.3% quarter-over-quarter (expected 1.0%; last 0.9%). July Building Approvals -1.7% month-over-month (expected -5.0%; last 11.7%) and July Private House Approvals 0.0% (last 4.0%)
New Zealand's July Building Consents -0.7% month-over-month (last -1.3%)
In news:
China's Foreign Minister Wang Yi said that China will abide "fully and completely" by UN resolutions, but added that China opposes unilateral sanctions against North Korea.
North Korea's Supreme Leader Kim Jong-un was quoted by KCNA as saying Tuesday's launch was a meaningful prelude to containing Guam.
China's Finance Minister Xiao Jie said the growth of hidden debt will be offset with prudent steps to diffuse local debt risk.
Overnight comments from Reserve Bank of New Zealand Governor Graeme Wheeler indicate the RBNZ would like to see a lower exchange rate.
Nikkei reported that Japan's government may reduce its budget request for 2018 to JPY98 trillion.

Major European indices trade in the green. France's CAC +0.6%, Germany's DAX +0.5%, UK's FTSE +0.4%, Italy's MIB +0.2%.
In economic data:
Eurozone August Business and Consumer Survey 111.9 (expected 111.3; last 111.3)
UK's July Mortgage Lending GBP3.60 billion (expected GBP3.50 billion; last GBP4.10 billion). Net Lending to Individuals GBP4.80 billion (expected GBP5.30 billion; last GBP5.50 billion)
Italy's July PPI 0.0% month-over-month (last 0.4%); +1.0% year-over-year (last 3.1%)
Spain's August CPI +0.2% month-over-month (last -0.7%); +1.6% year-over-year (consensus 1.7%; last 1.5%)
Swiss July Consumption Indicator 1.38 (last 1.30), August KOF Leading Indicators 104.1 (expected 107.0; last 108.0), and August ZEW Expectations 25.0 (last 34.7)
In news:
The British government has been notified that a transition deal lasting more than two years is very likely to be challenged by the European Court of Justice or voted down in the German parliament. British Prime Minister Theresa May reiterated that no Brexit deal is better than a bad deal.

05:53AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +12.00.
05:53AM ET

[BRIEFING.COM] Nikkei

...19506.54...+144.00

...+0.70%

Hang Seng

...28094.61...+329.60

...+1.20%

05:53AM ET

[BRIEFING.COM] FTSE

...7362.10...+24.70

...+0.30%

DAX

...12006.86...+61.00

...+0.50%

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.

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)
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http://www.thestrategylab.com
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