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 Post subject: September 6th Wednesday Trade Results - Profit $1775.00
PostPosted: Thu Sep 07, 2017 10:43 am 
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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
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Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
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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 @ $1775.00 dollars or +35.50 points, Light Crude Oil CL ($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 @ $1775.00 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=171&t=2641

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 04:30PM ET
Dow: +54.33… | Nasdaq: +17.74… | S&P: +7.69…
NASDAQ Vol: 1.87 bln… Adv: 1436… Dec: 1204…
NYSE Vol: 813.0 mln… Adv: 1822… Dec: 1092…

Moving the Market

Investors attempt 'buy-the-dip' trade following Tuesday's slide

President Trump and House Democrats reach an agreement to extend the debt ceiling and fund the government for another three months

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

[BRIEFING.COM] U.S. equities reclaimed a chunk of Tuesday's swoon on Wednesday as each of the three major indices--the S&P 500, the Dow, and the Nasdaq--settled with modest gains of 0.3% apiece. Small caps finished roughly in line with the broader market, evidenced by the Russell 2000, which climbed 0.2%. For the week, the S&P 500 is now lower by 0.4%.

In Washington, President Trump and Democratic leaders agreed to a package deal that includes $7.85 billion for Hurricane Harvey relief efforts and a three-month extension of both the debt ceiling and government funding. It's unclear if the proposal will have the support to make it through Congress however; House Speaker Paul Ryan (R-WI) said that the aforementioned deal was "unworkable" while Senate Majority Leader Mitch McConnell (R-KY) said that he is willing to add the three-month extension to the $7.85 billion flood relief bill--which the House passed as a stand-alone bill on Wednesday.

It's worth noting that, if passed, the proposal would put an end-of-the-year showdown on the table, something that may negatively impact Republicans' goal of getting tax reform done by the year's end. Nonetheless, the stock market took the news in stride today, strengthening into the afternoon, and the Treasury market weakened, sending the benchmark 10-yr yield four basis points higher to 2.11%.

The energy sector (+1.6%) finished comfortably ahead of its peers as crude oil moved higher, climbing 1.0% to a price of $49.14/bbl. The commodity has rallied both days this week as oil refineries along the Texas coast have started coming back online following Hurricane Harvey. On a related note, Hurricane Irma hit the Caribbean on Wednesday morning, moving towards Puerto Rico.

In total, nine of the eleven sectors finished in the green with the consumer discretionary space (+0.6%) settling behind the energy group at the top of the leaderboard. As for the laggards, the lightly-weighted utilities and telecom services groups finished with losses of 0.5% and 1.2%, respectively.

On the corporate front, toy makers like Mattel (MAT 15.69, -0.52) and Hasbro (HAS 93.66, -1.86) dropped 3.2% and 2.0%, respectively, following news that Toys "R" Us is considering a possible bankruptcy filing. Dave & Buster's (PLAY 51.41, -6.73) also finished solidly lower, dropping 11.6%, after lowering its comparable same-store sales guidance for fiscal year 2018.

Also of note, Fed Vice Chair Stanley Fischer offered President Trump his resignation on Wednesday morning, citing personal reasons. Mr. Fischer plans to step down in mid-October.

Reviewing Wednesday's economic data, which included the August ISM Services Index, the July Trade Balance, and the weekly MBA Mortgage Applications Index:

The ISM Services Index for August rose to 55.3 from an unrevised reading of 53.9 in July. The Briefing.com consensus expected a reading of 55.2.
The key takeaway from the report -- other than the important services sector remains in an expansion mode -- is that the uptick in July was paced by an increase in new orders and employment.
The July trade balance showed a deficit of $43.7 billion while the Briefing.com consensus expected the deficit to hit $44.6 billion. The previous month's deficit was revised to $43.5 billion from $43.6 billion.
The key takeaway from the report is that it should compute favorably for Q3 GDP forecasts considering the real trade deficit for July ($61.6 billion) was 1.3% below the second quarter average.
The weekly MBA Mortgage Applications Index increased 3.3% to follow last week's 2.3% decrease.

In addition, the Fed's Beige Book for September showed that economic activity expanded at a modest to moderate pace across all 12 Federal Reserve Districts in July and August. A special note was added for Hurricane Harvey, saying the storm created broad disruptions to economic activity in the Dallas and Atlanta districts, but it's still too soon to gauge the full extent of the impact.

On Thursday, investors will receive the revised readings for second quarter Productivity (Briefing.com consensus 1.2%) and Unit Labor Costs (Briefing.com consensus 0.3%) at 8:30 ET, the weekly Initial Claims Report (Briefing.com consensus 239K) also at 8:30 ET, and July Consumer Credit (Briefing.com consensus $15.0 billion) at 15:00 ET.

Nasdaq Composite +18.8% YTD
S&P 500 +10.1% YTD
Dow Jones Industrial Average +10.4% YTD
Russell 2000 +3.3% YTD

Dow: +54.33… | Nasdaq: +17.74… | S&P: +7.69…

NASDAQ Adv/Dec 1436/1204. …NYSE Adv/Dec 1822/1092.

03:30PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.42% at 85.7239
Dollar index is currently up 0.04% at 92.29.
Oct WTI crude is higher on the day.
Futures settled $0.50 higher to $49.14/barrel.
In other energy, Oct natural gas settled up $0.03 at $1.67/MMBtu
On to metals:
Dec gold lost $5.60 to settle at $1338.80/oz, while Sept silver dropped $0.01 to $17.93/oz
Sept copper gained $0.02 to $9.71/lb
Finally, agriculture:
Dec corn settled $0.03 higher at $3.61/bu.
Nov soy settled up $0.02 at $9.71/bu.
Dec wheat settled up $0.05 at $4.46/bu.

Dow: +88.83… | Nasdaq: +30.55… | S&P: +11.7…

NASDAQ Adv/Dec 1650/1085. …NYSE Adv/Dec 1872/1023.

03:00PM ET

[BRIEFING.COM] The major U.S. indices are on track to end Wednesday's session in positive territory with the benchmark S&P 500 showing a gain of 0.4%.

Earlier today, the House passed a stand alone flood relief bill in response to Hurricane Harvey, as widely expected, and President Trump reached an agreement with House Democrats to extend the debt ceiling and fund the government for another three months. Senate Majority Leader Mitch McConnell (R-KY) said that he will be adding the aforementioned agreement as an amendment to the aforementioned flood relief bill, even though reports indicate that some Republicans are opposed to the idea.

Moving into the final stretch, nine of the eleven sectors are trading in the green. The energy group leads with a gain of 1.7% while the utilities (-0.4%) and telecom services (-1.2%) groups trade at the back of the pack. The remaining groups hold gains of no more than 0.6%.

Dow: +80.76… | Nasdaq: +21.11… | S&P: +9.72…

NASDAQ Adv/Dec 1573/1180. …NYSE Adv/Dec 1793/1091.

02:25PM ET

[BRIEFING.COM] Equities continue trading near their best marks of the day, unchanged since the last update.

The Fed's Beige Book for September showed that economic activity expanded at a modest to moderate pace across all 12 Federal Reserve Districts in July and August. A special note was added for Hurricane Harvey, saying the storm created broad disruptions to economic activity in the Dallas and Atlanta districts, but it's still too soon to gauge the full extent of the impact.

In the bond market, U.S. Treasuries are trading at fresh session lows this afternoon with the benchmark 10-yr yield climbing four basis points to 2.10%. However, for the week, the 10-yr yield is still lower by seven basis points.

Dow: +83.59… | Nasdaq: +22.56… | S&P: +9.30…

NASDAQ Adv/Dec 1629/1128. …NYSE Adv/Dec 1782/1066.

02:00PM ET

[BRIEFING.COM] Equity indices are drifting near their best marks of the day with the S&P 500 sporting a gain of 0.4%.

The energy sector (+1.8%) is still trading at the very top of today's sector standings, by a comfortable margin, followed by the heavily-weighted financial group (+0.5%), which is in second place. Only two of the eleven sectors currently trade in the red--utilities and telecom services--with respective losses of 0.5% and 1.1%. The materials sector also underperforms, hovering near its unchanged mark.

On the data front, today's last economic report--the Fed's Beige Book for September--will be released shortly at 14:00 ET.

Dow: +77.71… | Nasdaq: +19.74… | S&P: +8.68…

NASDAQ Adv/Dec 1638/1124. …NYSE Adv/Dec 1786/1035.

01:35PM ET

[BRIEFING.COM] The major U.S. indices are holding firm in positive territory as stocks bounce back from yesterday's slump.

A look inside the Dow Jones Industrial Average shows that Exxon Mobil (XOM 79.16, +1.98), Chevron (CVX 111.86, +2.42), & Home Depot (HD 156.34, +3.41) are outperforming. Exxon & Chevron are leading the Dow higher as energy sees an extension of yesterday's gains on the heels of continued strength in crude oil futures, which are currently trading at $49.10/bbl. Analysts at UBS upgraded shares of Exxon to Neutral from Sell this morning. Elsewhere, Home Depot is again outperforming amid growing fears of the devastation Hurricane Irma may cause should it indeed make a direct hit in Florida, as currently expected.

Conversely, United Technologies (UTX 109.66, -1.55) is the worst-performing Dow component as investors continue to ditch shares following Monday's announcement of a $23 bln deal to buy Rockwell Collins (COL 130.85, -0.15) in cash & stock. Cowen this morning downgraded shares to Market Perform from Outperform.

For the week, the DJIA is currently down 0.7%.

Dow: +75.58… | Nasdaq: +18.16… | S&P: +8.39…

NASDAQ Adv/Dec 1644/1137. …NYSE Adv/Dec 1787/1040.

01:05PM ET

[BRIEFING.COM] Investors have tried their hand at a buy-the-dip trade following Tuesday's slide, but the effort has left the major averages just a step above their flat lines at midday. The S&P 500 is currently sporting a modest gain of 0.3% while the Dow (+0.3%) is doing a little better and the Nasdaq (+0.2%) a little worse.

Most sectors are trading in the green this afternoon, but, with the exception of the energy sector (+1.7%), gains have been pretty modest. The leaderboard has shifted a bit as of late with the heavily-weighted technology (+0.3%) and health care (+0.3%) sectors picking up the pace after showing early-morning weakness. Meanwhile, the financial group (+0.5%) has strengthened, moving back to its opening level.

At the ends of the leaderboard, the energy group has benefited from another strong performance from crude oil, which is up 1.0% at a price of $49.16/bbl. The commodity has rallied this week as oil refineries along the Texas coast have started coming back online following Hurricane Harvey. On the flip side, the telecom services (-0.6%), utilities (-0.2%), and materials (unch) groups trade in the red.

Hurricane Irma, which was upgraded to a Category 5 storm on Tuesday, is still on the market's mind today. It's unclear whether the storm will hit the U.S. mainland, but projections show it could turn toward Florida over the weekend. The hurricane hit the Caribbean this morning and looks poised to pass near Puerto Rico later today.

In Washington, Fed Vice Chair Stanley Fischer offered President Trump his resignation this morning, citing personal reasons. Also of note, Axios reported that Senate Republican leadership is considering attaching the government funding bill to the debt ceiling and emergency funding aid for Hurricane Harvey.

U.S. Treasuries have given back a small portion of yesterday's big rally following a batch of economic data this morning and ahead of tomorrow's policy decision from the European Central Bank. The benchmark 10-yr yield is up one basis point at 2.08%. Meanwhile, the U.S. dollar has ticked down 0.1% against the euro to 1.1926.

Reviewing Wednesday's economic data, which included the August ISM Services Index, the July Trade Balance, and the weekly MBA Mortgage Applications Index:

The ISM Services Index for August rose to 55.3 from an unrevised reading of 53.9 in July. The Briefing.com consensus expected a reading of 55.2.
The key takeaway from the report -- other than the important services sector remains in an expansion mode -- is that the uptick in July was paced by an increase in new orders and employment.
The July trade balance showed a deficit of $43.7 billion while the Briefing.com consensus expected the deficit to hit $44.6 billion. The previous month's deficit was revised to $43.5 billion from $43.6 billion.
The key takeaway from the report is that it should compute favorably for Q3 GDP forecasts considering the real trade deficit for July ($61.6 billion) was 1.3% below the second quarter average.
The weekly MBA Mortgage Applications Index increased 3.3% to follow last week's 2.3% decrease.

In addition, the Fed's Beige Book for September will be released this afternoon at 14:00 ET.

Dow: +72.98… | Nasdaq: +11.58… | S&P: +4.74…

NASDAQ Adv/Dec 1447/1308. …NYSE Adv/Dec 1690/1116.

12:25PM ET

[BRIEFING.COM] Equity indices have ticked up slightly in recent action with the Nasdaq (+0.1%) returning to positive territory.

The heavily-weighted financial sector (unch) was trading ahead of the broader market this morning--holding a gain of 0.7% at its best mark of the day--but has since slipped back to its unchanged mark. Most large-cap banking names trade in negative territory with Wells Fargo (WFC 49.62, -0.47) showing particular weakness, dropping 0.9%. The financial space currently trades at the bottom of the week's leaderboard with a week-to-date loss of 2.1%.

In the currency market, the U.S. Dollar Index (92.12, -0.21) is down 0.2%. The greenback has dropped 0.2% against the euro to 1.1943 ahead of tomorrow's policy decision from the European Central Bank.

Dow: +65.27… | Nasdaq: +3.39… | S&P: +5.72…

NASDAQ Adv/Dec 1397/1354. …NYSE Adv/Dec 1675/1143.

12:00PM ET

[BRIEFING.COM] The major averages continue drifting near their recent levels.

Trivago (TRVG 11.82, -3.11) has plunged 20.8% today after lowering its guidance for the fiscal year. Shares of the German hotel search platform are testing their lowest level since the company went public back in December 2016. Trivago priced its IPO at $11.00 per share and traded at an all-time high of $24.27 per share on July 19.

In the bond market, U.S. Treasuries have retraced their early losses and are now looking to add to yesterday's big rally. The benchmark 10-yr yield is flat at 2.07%, which marks its lowest level since November 2016. The 2-yr yield is also flat, trading at 1.29%.

Dow: +50.50… | Nasdaq: -2.57… | S&P: +3.92…

NASDAQ Adv/Dec 1340/1415. …NYSE Adv/Dec 1658/1141.

11:25AM ET

[BRIEFING.COM] Equities have ticked down in recent action, trimming the S&P 500's gain to 0.1%.

The energy sector (+1.5%) trades at the top of today's leaderboard by a comfortable margin, extending its week-to-date gain to 2.1%. The sector's positive performance comes amid another solid showing from crude oil, which is currently up 0.9% at $49.11/bbl. The commodity has rallied this week as oil refineries along the Texas coast have started coming back online following Hurricane Harvey.

On a related note, Hurricane Irma, which was upgraded to a Category 5 storm on Tuesday, hit the Caribbean this morning, making its way towards Puerto Rico. It's unclear whether the storm will hit the U.S. mainland, but projections show it could turn toward Florida over the weekend.

Dow: +63.98… | Nasdaq: -10.61… | S&P: +3.78…

NASDAQ Adv/Dec 1393/1342. …NYSE Adv/Dec 1727/1058.

10:55AM ET

[BRIEFING.COM] The major U.S. indices are trading mixed this morning with the S&P 500 (+0.2%) and the Dow (+0.3%) showing modest gains while the tech-heavy Nasdaq (-0.1%) shows a modest loss.

Mega-cap tech names like Apple (AAPL 160.99, -1.04), Microsoft (MSFT 73.50, -0.11), Facebook (FB 169.77, -0.95), and Alphabet (GOOGL 934.84, -6.64) are lagging this morning, showing losses between 0.2% and 0.7%. Chipmakers have also struggled, evidenced by the PHLX Semiconductor Index, which is currently trading lower by 0.1%.

The top-weighted technology sector (unch) is trading a step behind the broader market, hovering in the middle of today's sector standings. Meanwhile, the energy (+1.5%) and financials (+0.5%) spaces are hovering at the top of the leaderboard while the materials group (-0.2%) trades at the very bottom.

Also of note, recent reports indicate that Fed Vice Chair Stanley Fischer has offered his resignation to President Trump, citing "personal reasons." His resignation will take effect on October 13.

Dow: +65.98… | Nasdaq: -2.73… | S&P: +4.75…

NASDAQ Adv/Dec 1517/1214. …NYSE Adv/Dec 1835/920.

10:30AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.08% at 85.4371
The dollar index is down 0.04% at 92.22.
Oct WTI crude is higher on the day.
Futures are $0.41 higher to $49.07/barrel.
In other energy,
Natural gas futures spiked around 8:30am ET and quickly gave back these gains.
Oct natural gas is up $0.023 at $2.995/MMBtu
Metals:
Silver continues to edge higher
Dec gold is down $1.00 and trades at $1343.50/oz, while Sept silver gained $0.079 to $18.02/oz
Sept copper gained $0.003 to $3.131/lb
Finally, agriculture:
Dec corn is $0.005 lower at $3.58/bu.
Nov soy is up $0.0425 at $9.7275/bu.
Dec wheat is down $0.01 at $4.42/bu.

Dow: +74.56… | Nasdaq: -1.09… | S&P: +5.53…

NASDAQ Adv/Dec 1554/1177. …NYSE Adv/Dec 1858/871.

10:00AM ET

[BRIEFING.COM] The major averages continue to trade a step above their unchanged marks.

Just in, the ISM Services Index for August rose to 55.3 from an unrevised reading of 53.9 in July. The Briefing.com consensus expected a reading of 55.2.

Dow: +61.28… | Nasdaq: +12.19… | S&P: +6.33…

NASDAQ Adv/Dec 1676/956. …NYSE Adv/Dec 1786/842.

09:40AM ET

[BRIEFING.COM] The major U.S. indices opened Wednesday's session in the green with the S&P 500 sporting a gain of 0.3%.

All sectors are trading in positive territory this morning. The energy (+0.8%) and financials (+0.5%) groups exhibit relative strength while the materials (unch), consumer staples (+0.1%), and utilities (+0.1%) groups exhibit relative weakness. Treasuries are lower across the curve with the benchmark 10-yr yield climbing one basis point to 2.07%.

The August ISM Services Index will be released shortly at 10:00 ET. The Briefing.com consensus expects the index will come in at 55.2.

Dow: +70.19… | Nasdaq: +10.71… | S&P: +6.18…

NASDAQ Adv/Dec 1610/931. …NYSE Adv/Dec 1802/756.

09:11AM ET

[BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +21.60.

The equity market is poised to reclaim a portion of yesterday's slide at today's opening bell with the S&P 500 futures trading eight points, or 0.3%, above fair value.

Earnings news has been pretty light this morning, but there are a few headlines worth noting. Hewlett Packard (HPE 14.37, +0.33) is up 2.4% in pre-market action after beating bottom line estimates. Conversely, Dave & Buster's (PLAY 54.56, -3.58) is down 6.2% after lowering its comparable same-store sales guidance for fiscal year 2018.

Elsewhere on the corporate front, airlines are tracking lower after United Continental (UAL 58.87, -2.23) and JetBlue Airways (JBLU 18.70, -0.46) cut their third quarter unit revenue guidance, following form with Delta Air Lines (DAL 45.08, -0.76) and Spirit Airlines (SAVE 32.46, -0.05), which did the same yesterday.

U.S. Treasuries are trading slightly lower this morning, giving back a small portion of yesterday's big rally. The benchmark 10-yr yield is currently up one basis point at 2.08%, which places it just a tick above the 10-month low it posted on Tuesday. Meanwhile, the CBOE Volatility Index (VIX 12.03, -0.20) is down 1.6% after surging around 24.0% on Tuesday.

Within the crude futures market, WTI crude is up 1.2% at $49.22/bbl, extending yesterday's 2.8% gain, which was based on an outlook of improved demand for oil as refineries in Texas come back online. The American Petroleum Institute (API) will release its weekly crude inventory report this afternoon at 16:30 ET.

On the data front, the July trade balance showed a deficit of $43.7 billion while the Briefing.com consensus expected the deficit to hit $44.6 billion. The previous month's deficit was revised to $43.5 billion from $43.6 billion. Separately, the weekly MBA Mortgage Applications Index increased 3.3% to follow last week's 2.3% decrease.

Investors will also receive the August ISM Services Index (Briefing.com consensus 55.2) and the Fed's Beige Book for September. The two reports will be released at 10:00 ET and 14:00 ET, respectively.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +7.80. Nasdaq futures vs fair value: +22.10.

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

Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note. In Japan, President of the Institute for International Monetary Affairs in Tokyo, Hiroshi Watanabe, said the Bank of Japan should scale back its stimulus and give up on reaching the 2.0% inflation target. Australia's Treasurer Scott Morrison said the country's budget forecast for fiscal year 2018 will improve if the economy remains on its current path. South Korea's sovereign wealth fund warned that the semiconductor industry would be severely impacted if war were to break out on the Korean peninsula.

In economic data:
Japan's Average Cash Earnings -0.3% year-over-year (expected 0.5%; last 0.4%). July Overtime Pay +0.1% year-over-year (last -0.2%)
Australia's Q2 GDP +0.8% quarter-over-quarter (expected 0.9%; last 0.3%); +1.8% year-over-year (consensus 1.9%; last 1.7%)

---Equity Markets---

Japan's Nikkei shed 0.1%. SUMCO, Toho, Fast Retailing, Tokyo Electron, Sumitomo Metal Mining, TOTO, Denso, Nippon Paper Industry, Bridgestone, Mazda Motor, Fuji Heavy Industries, and Toyota lost between 0.9% and 4.2%. Toshiba jumped 5.2% after Western Digital offered to take a back seat in Toshiba's chip unit sale. Komatsu, JFE Holdings, Amada, Kobe Steel, Hitachi Construction, Ricoh, and Shin-Etsu Chemical advanced between 1.4% and 2.8%.
Hong Kong's Hang Seng slid 0.5%. Apple supplier AAC Technologies lost 3.3% while property names like Wharf Holdings, Swire Pacific, China Construction Bank, and China Resources Land surrendered between 0.5% and 3.8%. On the upside, Kunlun Energy gained 2.5% and CNOOC added 0.2%.
China's Shanghai Composite settled just above its flat line. Shanghai Baosight Software, Ningbo Shanshan, BGRIMM Technology, Xinyu Iron & Steel, and Sinochem International rose between 4.9% and 6.4%.
India's Sensex lost 0.5% with most components ending in the red. Countercyclical names like Sun Pharma, ITC, and Lupin lost between 2.1% and 3.7% while financials were mixed. AXIS Bank lost 1.8%, ICICI Bank fell 0.9%, and HDFC Bank added 0.2%. GAIL outperformed, rising 0.8%.

Major European indices trade mixed with the UK's FTSE showing relative weakness (-0.4%). Spanish Prime Minister Mariano Rajoy has called an extraordinary cabinet meeting as Catalonia readies to schedule an independence referendum for October 1. Mr. Rajoy has threatened to use "full force of the law" to block the referendum. The European Central Bank will meet tomorrow.

In economic data:
Eurozone Retail PMI 50.8 (last 51.0)
Germany's July Factory Orders -0.7% month-over-month (expected 0.3%; last 0.9%)
Italy's July Retail Sales -0.2% month-over-month (expected 0.4%; last 0.6%); 0.0% year-over-year (consensus 1.1%; last 1.3%)

---Equity Markets---

UK's FTSE is down 0.4%, approaching its August low. Homebuilders Barratt Developments, Berkeley, Taylor Wimpey, and Persimmon are down between 1.7% and 3.9% after disappointing results from Barratt Developments and Berkeley. Financials like Standard Chartered, Direct Line Insurance, Prudential, RBS, Barclays, Provident Financial, and HSBC show losses between 0.9% and 1.4%.
France's CAC is higher by 0.2%. Publicis Groupe, LafargeHolcim, Total, Schneider Electric, Solvay, Accor, and Vivendi are down between 0.2% and 1.3%. Financials are mixed with AXA down 0.3%, Societe Generale lower by 0.4%, BNP Paribas trading flat, and Credit Agricole rising 0.5%.
Germany's DAX is higher by 0.8%. Influential names like SAP, Adidas, Bayer, Siemens, and BASF display gains between 0.4% and 0.6% while automakers like Volkswagen, BMW, and Daimler outperform with gains between 2.1% and 3.8%.


08:31AM ET

[BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +21.30.

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

Just in, the July trade balance showed a deficit of $43.7 billion while the Briefing.com consensus expected the deficit to hit $44.6 billion. The previous month's deficit was revised to $43.5 billion from $43.6 billion.

07:55AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +18.90.

U.S. equities are looking to bounce back from Tuesday's slide, which resulted in losses between 0.8% and 1.1% for the major indices. The S&P 500 futures are currently trading five points, or 0.2%, above fair value, indicating a modestly higher open for the benchmark index.

Treasuries are trading slightly lower this morning, giving back a small portion of yesterday's big rally. The benchmark 10-yr yield is currently up one basis point at 2.08%, which places it just a tick above the 10-month low it posted on Tuesday. Meanwhile, the U.S. Dollar Index (92.22, -0.06) is down 0.1% while gold trades flat at $1,345.07/ozt.

Crude oil is up 1.1% at $49.17/bbl, extending yesterday's 2.8% gain, which was based on an outlook of improved demand for oil as refineries in Texas come back online. The American Petroleum Institute (API) will release its weekly crude inventory report this afternoon at 16:30 ET.

On the data front, investors will receive several economic reports today, including the July Trade Balance (Briefing.com consensus -$44.6 billion) at 8:30 ET, the August ISM Services Index (Briefing.com consensus 55.2) at 10:00 ET, and the Fed's Beige Book for September at 14:00 ET.

Also of note, the weekly MBA Mortgage Applications Index increased 3.3% to follow last week's 2.3% decrease.

In U.S. corporate news:

Hewlett Packard (HPE 14.25, +0.21): +1.5% after beating earnings estimates.
Newell Brands (NWL 45.50, -3.22): -6.6% after lowering its earnings guidance in the wake of Hurricane Harvey.
Dave & Busters (PLAY 54.50, -3.64): -6.3% after lowering comparable same-store sales guidance for fiscal year 2018.
Fred's (FRED 5.90, +0.14): +2.4% after reporting better than expected earnings.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note. Japan's Nikkei -0.1%, Hong Kong's Hang Seng -0.5%, China's Shanghai Composite unch, India's Sensex -0.5%.
In economic data:
Japan's Average Cash Earnings -0.3% year-over-year (expected 0.5%; last 0.4%). July Overtime Pay +0.1% year-over-year (last -0.2%)
Australia's Q2 GDP +0.8% quarter-over-quarter (expected 0.9%; last 0.3%); +1.8% year-over-year (consensus 1.9%; last 1.7%)
In news:
President of the Institute for International Monetary Affairs in Tokyo, Hiroshi Watanabe, said the Bank of Japan should scale back its stimulus and give up on reaching the 2.0% inflation target.
Australia's Treasurer Scott Morrison said the country's budget forecast for fiscal year 2018 will improve if the economy remains on its current path.
South Korea's sovereign wealth fund warned that the semiconductor industry would be severely impacted if war were to break out on the Korean peninsula.

Major European indices trade on a mostly lower note. UK's FTSE -0.7%, France's CAC -0.2%, Germany's DAX unch, Spain's IBEX -0.5%, Italy's MIB +0.4%.
In economic data:
Eurozone Retail PMI 50.8 (last 51.0)
Germany's July Factory Orders -0.7% month-over-month (expected 0.3%; last 0.9%)
Italy's July Retail Sales -0.2% month-over-month (expected 0.4%; last 0.6%); 0.0% year-over-year (consensus 1.1%; last 1.3%)
In news:
Spanish Prime Minister Mariano Rajoy has called an extraordinary cabinet meeting as Catalonia readies to schedule an independence referendum for October 1. Mr. Rajoy has threatened to use "full force of the law" to block the referendum.
The European Central Bank will meet tomorrow.

05:57AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +16.60.
05:56AM ET

[BRIEFING.COM] Nikkei

...19358...-27.80

...-0.10%

Hang Seng

...27614...-127.60

...-0.50%

05:56AM ET

[BRIEFING.COM] FTSE

...7324.39...-48.50

...-0.70%

DAX

...12092.73...-31.00...-0.30%

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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