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 Post subject: September 7th Thursday Trade Results - Profit $1575.00
PostPosted: Fri Sep 08, 2017 12:03 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
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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 @ $1575.00 dollars or +31.50 points, Light Crude Oil CL ($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 @ $1575.00 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=2642

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: -22.86… | Nasdaq: +4.55… | S&P: -0.44…
NASDAQ Vol: 1.99 bln… Adv: 1271… Dec: 1362…
NYSE Vol: 786.7 mln… Adv: 1502… Dec: 1394…

Moving the Market

ECB leaves interest rates unchanged; ECB President Draghi says the central bank will make a decision on its QE program later this year

House Speaker Ryan voices support for Wednesday's extension deal between President Trump and Democratic lawmakers

Financial sector lags while technology and health care groups outperform

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

[BRIEFING.COM] The major U.S. indices had a mixed outing on Thursday, settling near their unchanged marks despite another disappointing performance from the heavily-weighted financial sector (-1.7%) and risk-off signals from other financial markets. The Nasdaq (+0.1%) eked out a narrow victory while the Dow (-0.1%) and the S&P 500 (unch) each finished a tick below their flat lines.

Prior to Thursday's opening bell, the European Central Bank announced its decision to leave interest rates unchanged. ECB President Mario Draghi added that the central bank will make a decision on its quantitative easing program later this year and risks to the outlook remain balanced. He also noted that the ECB is not targeting an exchange rate, but the level will factor into policy decisions.

The euro climbed 0.9% against the U.S. dollar to 1.2025 following Mr. Draghi's remarks, helping to send the U.S. Dollar Index (91.48, -0.73, -0.8%) to its lowest level since January 2015. The Japanese yen also weighed on the greenback, climbing 0.7% to 108.45. The yen is considered a safe-haven asset and typically does well when investors are feeling risk averse.

Other safe-haven assets, like U.S. Treasuries and gold, also did well on Thursday. Gold climbed 0.9% to $1,350.40/ozt, settling at a new high for the year, while the Treasury market rallied in a curve-flattening trade that sent the 2-yr yield (1.27%) and the 10-yr yield (2.06%) lower by two basis points and five basis points, respectively.

The flattening of the yield curve fueled concerns about net interest margins for lenders and contributed to another poor performance for the heavily-weighted financial sector, which dropped 1.7% to finish below its 200 day simple moving average (397.68). Property and casualty insurers also weighed on the financial group as Hurricane Irma creeped closer to the populous state of Florida.

Like financials, the consumer discretionary and telecom services spaces finished solidly lower, dropping 0.9% and 2.1%, respectively, but the eight remaining sectors finished in positive territory with gains ranging from 0.1% to 1.1%. The influential health care and information technology sectors finished comfortably ahead of the broader market, adding 1.1% and 0.5%, respectively.

On the corporate front, Walt Disney (DIS 97.06, -4.44) dropped 4.4% after CEO Bob Iger announced that the company's earnings per share for fiscal year 2017 will be roughly in line with the 2016 figure. In addition, the company said that its Marvel and Star Wars titles will go exclusively to its planned streaming service, which is set to launch in late 2019.

General Electric (GE 24.02, -0.90) also finished solidly lower, losing 3.6%, after JP Morgan reaffirmed its underweight rating on GE shares. However, on a positive note, Restoration Hardware (RH 71.54, +22.12) surged 44.8% after beating both top and bottom line estimates and issuing upbeat guidance.

In Washington, the Senate easily passed President Trump's Wednesday agreement with Democratic lawmakers, which packages Hurricane Harvey relief funding with a three-month extension of both government funding and the debt ceiling. The measure will now be taken up in the House, where it is also expected to pass.

Reviewing Thursday's economic data, which included the weekly Initial Claims Report and revised readings for second quarter Productivity and Unit Labor Costs:

The latest weekly initial jobless claims count totaled 298,000 while the Briefing.com consensus expected a reading of 239,000. Today's tally was above the unrevised prior week count of 236,000. As for continuing claims, they declined to 1.940 million from the revised count of 1.945 million (from 1.942 million).
The key takeaway from the report is that the spike in initial claims was impacted by Hurricane Harvey, which is to say it is an aberrant reading in relation to an otherwise encouraging trend for initial claims.
Second quarter unit labor costs were revised downward to +0.2% (Briefing.com consensus +0.3%) from +0.6% in the preliminary reading. Meanwhile, second quarter productivity was revised upward to +1.5% (Briefing.com consensus +1.2%) from +0.9% in the preliminary reading.
The key takeaway from the report is that the subdued growth in unit labor costs will contribute to the market's thinking that the Fed has scope to hold off on another rate hike this year.

On Friday, investors will receive just two pieces of economic data--July Wholesale Inventories (Briefing.com consensus 0.4%) and July Consumer Credit (Briefing.com consensus $15.0 billion). The two reports will be released at 10:00 ET and 15:00 ET, respectively.

Nasdaq Composite +18.9% YTD
Dow Jones Industrial Average +10.2% YTD
S&P 500 +10.1% YTD
Russell 2000 +3.0% YTD

Dow: -22.86… | Nasdaq: +4.55… | S&P: -0.44…

NASDAQ Adv/Dec 1271/1362. …NYSE Adv/Dec 1502/1394.

03:30PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.07% at 85.6620
Dollar index is lower 0.74% at 91.61.
Oct WTI crude is down on the day.
Futures settled $0.04 lower to $49.10/barrel.
In other energy, Oct natural gas settled down $0.02 at $2.98/MMBtu
On to metals:
Dec gold lost $11.60 to settle at $1350.40/oz, while Sept silver settled up $0.18 to $17.93/oz
Sept copper lost $0.01 to $3.14/lb
Finally, agriculture:
Dec corn settled $0.06 lower at $XXX/bu.
Nov soy settled down $0.02 at $9.69/bu.
Dec wheat is down $0.09 at $4.37/bu.

Dow: -58.55… | Nasdaq: +0.78… | S&P: -2.88…

NASDAQ Adv/Dec 1313/1426. …NYSE Adv/Dec 1416/1467.

03:05PM ET

[BRIEFING.COM] The major averages continue trading near their unchanged marks moving into the final stretch with the Nasdaq (+0.1%) showing relative strength and the Dow (-0.2%) showing relative weakness.

On the earnings front, Kroger (KR 22.79, +0.24) will deliver its quarterly report tomorrow morning before the opening bell. The company has climbed 0.9% in today's session and is currently on track to post its fourth-consecutive win. Meanwhile, the consumer staples sector, which houses grocery names, trades a step ahead of the broader market, up 0.2%

U.S. Treasuries are still trading higher across the curve with the benchmark 10-yr yield dropping five basis points to 2.06%.

Dow: -45.28… | Nasdaq: +3.78… | S&P: -1.27…

NASDAQ Adv/Dec 1306/1462. …NYSE Adv/Dec 1426/1467.

02:30PM ET

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

Recent reports indicate that the Senate has enough votes to pass President Trump's Wednesday agreement with Democratic lawmakers, which packages Hurricane Harvey relief funding with a three-month extension of both government funding and the debt ceiling. The measure will now be taken up in the House, where it is expected to pass.

Also of note, today's last economic report--July Consumer Credit (Briefing.com consensus $15.0 billion)--will be released shortly at 15:00 ET.

Dow: -35.83… | Nasdaq: +5.54… | S&P: -0.55…

NASDAQ Adv/Dec 1330/1433. …NYSE Adv/Dec 1439/1432.

02:00PM ET

[BRIEFING.COM] The major U.S. indices are trading mixed with the Nasdaq (+0.1%) sporting a slim gain while the Dow (-0.2%) and the S&P 500 (-0.1%) show modest losses.

Six of the eleven sectors are trading in negative territory with the heavily-weighted financial group (-2.0%) leading the retreat. The consumer discretionary (-0.8%) and telecom services (-1.4%) spaces also show relative weakness while the other laggards hold losses of 0.1% apiece. On the flip side, the influential health care and technology sectors outperform with respective gains of 1.2% and 0.5%.

In the bond market, U.S. Treasuries have ticked down from their session highs, but are still trading comfortably in the green. The benchmark 10-yr yield is down five basis points at 2.06%.

Dow: -47.27… | Nasdaq: +3.38… | S&P: -2.29…

NASDAQ Adv/Dec 1332/1446. …NYSE Adv/Dec 1372/1502.

01:35PM ET

[BRIEFING.COM] The major U.S. indices continue to trade mixed at this time in a range-bound session.

A look inside the Dow Jones Industrial Average shows that Walt Disney (DIS 97.33, -4.17), General Electric (GE 23.97, -0.95), & Travelers (TRV 113.99, -3.02) are underperforming. Disney shares saw some late morning weakness amid the company's presentation at the Bank of America Merrill Lynch 2017 Media, Communications & Entertainment conference. CEO Iger discussed several company initiatives, but spooked investors when he stated that the media giant expected FY17 EPS to be roughly in-line with those of the prior year. Elsewhere, GE is under pressure following cautious commentary from analysts at JP Morgan, while Travelers is again seeing relative weakness as insurers slide in advance of Hurricane Irma reaching the state of Florida.

Conversely, Visa (V 104.80, +1.62) is the best-performing Dow component after peer Mastercard (MA 137.08, +4.19) boosted its financial outlook at today's meeting with members of the investment community.

For the week, the DJIA is -1%

Dow: -37.57… | Nasdaq: +3.58… | S&P: -1.82…

NASDAQ Adv/Dec 1323/1448. …NYSE Adv/Dec 1399/1444.

01:00PM ET

[BRIEFING.COM] The equity market has managed to keep near its unchanged mark so far on Thursday despite another poor performance from the heavily-weighted financial sector (-1.8%) and a strong risk-off tone within other financial markets. The major averages are currently trading mostly lower with the S&P 500 (-0.1%) and the Dow (-0.2%) showing modest losses. The Nasdaq trades flat.

Seven of the eleven sectors are currently trading in the red, but none show a greater loss than the financial sector, which has dropped below its 200 day simple moving average (397.68). Many of the catalysts that fueled the sector's Tuesday slide are still in play today, including Hurricane Irma, which has property and casualty insurers worried as it moves towards the populous state of Florida.

A flattening of the yield curve has also worked against the financial sector today, eating into the profitability prospects of lenders. The yield on the 2-yr note has fallen four basis points to 1.27% while the yield on the 10-yr note has dropped six basis points to 2.05%, lowering the 2yr-10yr spread to just 78 basis points versus 122 basis points at the start of the year.

The Treasury market rally follows the ECB's decision to leave interest rates unchanged and comments from ECB President Mario Draghi, who said that the central bank will make a decision on its quantitative easing program later this year and risks to the outlook remain balanced. Mr. Draghi also noted that the ECB is not targeting an exchange rate, but the level will factor into policy decisions.

Within the currency market, the U.S. dollar has taken a beating, dropping 0.7% against the euro to 1.2001 following Mr. Draghi's remarks. The greenback has also moved lower against the yen, dropping 0.8% to 108.30, which is seen as a risk-off move considering the yen's status as a safe-haven asset.

Meanwhile, gold, another safe-haven asset, has climbed 1.0% to $1,351.70/ozt--marking its highest level of the year--and the CBOE Volatility Index (VIX 12.03, +0.40) has jumped 3.4%. Given the risk-off tone in other financial markets, it would not be surprising to see the equity market extend its loss this afternoon.

However, the influential health care sector, which has done its part in mitigating the financial sector's bearish influence, continues going strong, sporting a gain of 1.1%. The top-weighted technology sector is also helping keep the broader market afloat with a gain of 0.3%.

In corporate news, Walt Disney (DIS 97.65, -3.85) has dropped 3.8% after CEO Bob Iger announced that the company's earnings per share for fiscal year 2017 will be roughly in line with the 2016 figure. In addition, the company said that its Marvel and Star Wars titles will go exclusively to its planned streaming service.

Similarly, General Electric (GE 24.13, -0.79) is also trading solidly lower, down 3.2%, after JP Morgan reaffirmed its underweight rating on GE shares. However, on a positive note, Restoration Hardware (RH 70.50, +21.08) has surged 42.5% after beating both top and bottom line estimates and issuing upbeat guidance.

On the political front, House Speaker Paul Ryan (R-WI) voiced his support for President Trump's Wednesday agreement with Democratic lawmakers, which packages Hurricane Harvey relief funding with a three-month extension of both government funding and the debt ceiling. Before Mr. Trump made the deal, Mr. Ryan called the idea "unworkable."

Reviewing Thursday's economic data, which included the weekly Initial Claims Report and revised readings for second quarter Productivity and Unit Labor Costs:

The latest weekly initial jobless claims count totaled 298,000 while the Briefing.com consensus expected a reading of 239,000. Today's tally was above the unrevised prior week count of 236,000. As for continuing claims, they declined to 1.940 million from the revised count of 1.945 million (from 1.942 million).
The key takeaway from the report is that the spike in initial claims was impacted by Hurricane Harvey, which is to say it is an aberrant reading in relation to an otherwise encouraging trend for initial claims.
Second quarter unit labor costs were revised downward to +0.2% (Briefing.com consensus +0.3%) from +0.6% in the preliminary reading. Meanwhile, second quarter productivity was revised upward to +1.5% (Briefing.com consensus +1.2%) from +0.9% in the preliminary reading.
The key takeaway from the report is that the subdued growth in unit labor costs will contribute to the market's thinking that the Fed has scope to hold off on another rate hike this year.

Today's last economic report--July Consumer Credit (Briefing.com consensus $15.0 billion)--will be released at 15:00 ET.

Dow: -37.03… | Nasdaq: -1.73… | S&P: -2.43…

NASDAQ Adv/Dec 1356/1394. …NYSE Adv/Dec 1467/1373.

12:25PM ET

[BRIEFING.COM] Equity indices continue hovering near their recent levels with the S&P 500 showing a loss of 0.1%.

The heavily-weighted financial sector (-2.0%) is trading at the bottom of today's leaderboard by a relatively wide margin, dropping below its 200 day simple moving average (397.68). Property and casualty insurers show particular weakness as Hurricane Irma--which is one of the most powerful Atlantic storms ever recorded--continues to move toward the Florida coast.

A flattening of the yield curve has also worked against the financial sector today; the 10-yr yield is currently down six basis points at 2.05% while the 2-yr yield is four basis points lower at 1.27%.

Dow: -42.63… | Nasdaq: +3.11… | S&P: -2.83…

NASDAQ Adv/Dec 1325/1461. …NYSE Adv/Dec 1379/1447.

12:00PM ET

[BRIEFING.COM] The major U.S. indices continue trading near their unchanged marks moving into the afternoon session. The benchmark S&P 500 shows a slim loss of 0.1%.

Walt Disney (DIS 99.44, -2.21) has dropped sharply in recent action after CEO Bob Iger announced that the company's earnings per share for fiscal year 2017 will be roughly in line with the 2016 figure. In addition, the company said that its Marvel and Star Wars titles will go exclusively to its planned streaming service. DIS shares were trading flat less than an hour ago, but now trade lower by 3.2%.

The consumer discretionary sector (-0.3%), which houses Disney, currently trades a step behind the broader market, dropping into negative territory for the week. Today's slide leaves the sector with a modest week-to-date loss of 0.2%.

Dow: -36.71… | Nasdaq: +9.95… | S&P: -1.86…

NASDAQ Adv/Dec 1344/1454. …NYSE Adv/Dec 1394/1420.

11:30AM ET

[BRIEFING.COM] Equity indices are currently trading mixed with the Nasdaq (+0.1%) sporting a slim gain while the Dow and the S&P 500 show losses of 0.1% apiece.

Despite the equity market's relatively flat performance, there is a strong risk-off tone lingering throughout other financial markets this morning. Treasuries are rallying, sending the 10-yr yield seven basis points lower to 2.04%, which marks a fresh ten-month low for the benchmark yield. Meanwhile, the U.S. dollar has dropped 1.0% against the Japanese yen to 108.21, pushing the USD/JPY pair to its lowest level of the year, and gold has climbed 1.1% to 1,353.00/ozt, which marks its highest level of 2017.

Crude oil has had a muted reaction to the weekly EIA crude inventory report, which showed a build of 4.6 million barrels for the week ended September 1. The consensus estimate called for a build of 4.0 million barrels. WTI crude is currently down 0.3% at a price of $49.03/bbl. The energy sector is hovering near its unchanged mark, protecting its week-to-date gain of 2.2%.

Dow: -34.51… | Nasdaq: +6.46… | S&P: -2.80…

NASDAQ Adv/Dec 1335/1468. …NYSE Adv/Dec 1373/1431.

11:00AM ET

[BRIEFING.COM] The major averages are trading higher this morning with the Nasdaq (+0.3%) showing relative strength.

Within the Dow, financial companies are among the weakest components with names like Goldman Sachs (GS 215.27, -3.54), JPMorgan Chase (JPM 88.88, -1.21), and American Express (AXP 84.37, -0.86) showing losses between 1.0% and 1.7%. However, General Electric (GE 24.38, -0.53) has done even worse, dropping 2.2%, after JP Morgan reaffirmed its underweight rating on GE shares.

Outside of the equity market, WTI crude is down 0.4%, hovering at a price of $48.97/bbl, ahead of the weekly EIA crude inventory report release, which will happen shortly at 11:00 ET. The American Petroleum Institute (API) reported a build of 2.8 million barrels last night, but the API reading often deviates sharply from the official government report.

Dow: +18.00… | Nasdaq: +17.01… | S&P: +1.87…

NASDAQ Adv/Dec 1479/1295. …NYSE Adv/Dec 1496/1276.

10:35AM ET

[BRIEFING.COM] Commodities begin the day flat:

Overall, commodities, as measured by the Bloomberg Commodity Index, are flat at 85.7447
Dollar index is currently down 0.75% at 91.60.
Oct WTI crude is lower to start the day.
EIA Petroleum data is due out at 11am ET.
Ahead of the release, futures are $0.25 lower to $48.91/barrel.
In other energy:
Natural gas inventory showed a build of 65 bcf vs a build of 30 bcf in the prior week.
Oct natural gas is down $0.002 at $2.999 /MMBtu
Metals are down across the board:
Dec gold gained $13.00 and trades at $1352.10/oz, while Sept silver gained $0.25 to $18.16/oz
Sept copper lost $0.012 to $3.1395/lb
Finally, agriculture:
Dec corn is down $0.04 at $3.57/bu.
Nov soy is flat at $9.71/bu.
Dec wheat is down $0.055 at $4.4025/bu.

Dow: -24.14… | Nasdaq: +2.56… | S&P: -2.4…

NASDAQ Adv/Dec 1260/1472. …NYSE Adv/Dec 1339/1404.

10:00AM ET

[BRIEFING.COM] The major averages are hovering just a tick above their unchanged marks.

In a recent interview with the New York Times, House Speaker Paul Ryan (R-WI) voiced his support for President Trump's Wednesday agreement with Democratic lawmakers, which packages Hurricane Harvey relief funding with a three-month extension of both government funding and the debt ceiling. Before Mr. Trump made the deal, Mr. Ryan called the idea "unworkable."

Seven of eleven sectors are currently trading in the green with the influential health care space (+0.5%) pacing the advance. The heavily-weighted financial sector (-0.6%) has extended its early loss and currently trades at the bottom of the day's leaderboard.

Dow: +12.50… | Nasdaq: +1.83… | S&P: +0.71…

NASDAQ Adv/Dec 1292/1374. …NYSE Adv/Dec 1370/1279.

09:40AM ET

[BRIEFING.COM] The U.S. equity market opened Thursday's session slightly higher with the S&P 500 sporting a gain of 0.1%.

Most sectors are trading in the green this morning, but the heavily-weighted financial sector (-0.4%) is struggling to keep pace, extending its week-to-date loss to 2.4%. The industrials (-0.2%) and materials (-0.3%) sectors are also trading in the red, while the remaining groups hold modest gains of no more than 0.4%.

In the bond market, U.S. Treasuries are still trading higher across the curve with the benchmark 10-yr yield dropping three basis points to 2.08%--which is just a tick above its 10-month low.

Dow: +26.10… | Nasdaq: +4.01… | S&P: +2.23…

NASDAQ Adv/Dec 1263/1283. …NYSE Adv/Dec 1542/1037.

09:15AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.40. Nasdaq futures vs fair value: +11.60.

The U.S. equity market is on track to open Thursday's session slightly higher following the European Central Bank's decision to leave interest rates unchanged, as expected. The S&P 500 futures currently trade just two points, or 0.1%, above fair value.

In his post-decision press conference, ECB President Mario Draghi said that the European Central Bank will decide this autumn on the calibration of its asset purchase program. Mr. Draghi also noted that substantial quantitative easing is still needed to drive inflation as prices remain weak and the recent volatility in exchange rates needs to be monitored.

The euro has climbed 1.1% against the greenback to 1.2046 following Mr. Draghi's comments, hitting its highest level since January 2015. Consequently, the U.S. Dollar Index (91.41, -0.82) has slipped 0.9% to its lowest level in over three years.

Meanwhile, U.S. Treasuries are trading higher across the curve, sending both the benchmark 10-yr yield and the 2-yr yield three basis points lower to 2.08% and 1.28%, respectively. The 10-yr yield is currently trading at a 10-month low while the 2-yr yield has hit a fresh three-month low.

On the data front, second quarter unit labor costs were revised downward to +0.2% (Briefing.com consensus +0.3%) from +0.6% in the preliminary reading. Meanwhile, second quarter productivity was revised upward to +1.5% (Briefing.com consensus +1.2%) from +0.9% in the preliminary reading.

Separately, the latest weekly initial jobless claims count totaled 298,000 while the Briefing.com consensus expected a reading of 239,000. Today's tally was above the unrevised prior week count of 236,000. As for continuing claims, they declined to 1.940 million from the revised count of 1.945 million (from 1.942 million). The spike in initial claims was impacted by Hurricane Harvey.

Today's last economic report--July Consumer Credit (Briefing.com consensus $15.0 billion)--will be released at 15:00 ET.

Also of note, the Energy Information Administration (EIA) will release its weekly crude inventory report this morning at 11:00 ET. WTI crude futures are currently down 0.5% at $48.90/bbl following last night's API inventory report, which showed a build of 2.8 million barrels in U.S. crude stocks for the week ended September 1.

08:52AM 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 above fair value.

Equity indices in the Asia-Pacific region ended Thursday on a mixed note. South Korea began deploying additional THAAD launchers to strengthen defenses against North Korea. It is worth noting that China and Russia have voiced opposition to an additional THAAD deployment in recent past. The Japanese yen retraced the bulk of yesterday's loss against the dollar, catching a bid after South Korea's Prime Minister Lee Nak-yeon reiterated that another North Korean missile test is likely this weekend.

In economic data:
Japan's July Leading Index 105.0 (expected 105.2; last 105.9). July Coincident Indicator -1.2% month-over-month (last 1.0%)
China's FX Reserves $3.092 trillion (expected $3.095 trillion; last $3.081 trillion)
Australia's July Retail Sales 0.0% month-over-month (expected 0.3%; last 0.2%). July trade surplus narrowed to AUD460 million from AUD888 million (expected surplus of AUD875 million). July Imports -1.0% month-over-month (last 2.0%) and July Exports -2.0% month-over-month (last -1.0%). August AIG Construction Index 55.3 (last 60.5)

---Equity Markets---

Japan's Nikkei edged up 0.2%. Okuma, Dainippon Screen Manufacturing, Komatsu, Suzuki Motor, Showa Denko, Nippon Paper Industries, Teijin, NSK, Terumo, and Honda Motor gained between 1.4% and 3.4%. On the downside, Familymart, Yamaha, Nippon Meat Packers, Furukawa Electric, Eisai, TDK, and J Front Retailing lost between 0.7% and 1.2%.
Hong Kong's Hang Seng lost 0.3%. Energy-related names like CNOOC, PetroChina, and China Shenhua Energy lost between 0.7% and 1.9% while financials like Hang Seng Bank, China Life Insurance, BoC Hong Kong, HSBC, and Bank of China surrendered between 0.5% and 0.9%.
China's Shanghai Composite ended lower by 0.6%. Jiangxi Copper, Nuode Investment, BTG Hotels, Yonyou Network Technology, and Insigma Technology surrendered between 3.7% and 4.3%.
India's Sensex settled just above its flat line. Mahindra&Mahindra, Bajaj Auto, Dr. Reddy's Labs, Sun Pharma, Hero MotoCorp, and Maruti Suzuki gained between 0.8% and 2.0%. On the downside, ITC, Tata Motors, Coal India, and Asian Paints posted losses between 0.5% and 1.9%.

Major European indices still trade on a higher note--but have weakened a bit in recent action--following the European Central Bank's decision to leave interest rates unchanged and amid ECB President Mario Draghi's post-decision press conference. So far, Mr. Draghi has said that the recent volatility in exchange rates needs to be monitored and that substantial quantitative easing is still needed to drive inflation as prices remain weak. The central bank head also said that the ECB will decide on the calibration of its asset purchase program this autumn. In Spain, the Catalan parliament voted in favor of holding an independence referendum on October 1. The vote was held after a 12-hour session and it took place despite significant opposition from Prime Minister Mariano Rajoy's government. However, neither Spanish equities nor Spanish debt have shown much stress in response to criminal charges being presented against the Catalan government and the Catalan parliament speaker.

In economic data:
Eurozone Q2 GDP +0.6% quarter-over-quarter, as expected (last 0.6%); +2.3% year-over-year (expected 2.2%; last 2.2%)
Germany's July Industrial Production 0.0% month-over-month (expected 0.6%; last -1.1%)
UK's August Halifax House Price Index +1.1% month-over-month (expected 0.2%; last 0.7%); +2.6% year-over-year (consensus 2.1%; last 2.1%)

---Equity Markets---

UK's FTSE is higher by 0.5%. Homebuilders have rebounded from yesterday's weakness with Barratt Developments, Taylor Wimpey, and Persimmon climbing between 0.9% and 1.7%. Countercyclical names like Imperial Brands, British American Tobacco, Shire, and AstraZeneca have added between 1.7% and 2.9%.
France's CAC trades up 0.5% with most components on the rise. Essilor International, Valeo, Kering, Louis Vuitton, Peugeot, and Total rising between 0.8% and 2.1%. Financials like BNP Paribas, Credit Agricole, and Societe Generale show modest gains between 0.1% and 0.5%.
Germany's DAX has climbed 0.7%. Utility providers RWE and E.On lead with respective gains of 3.8% and 2.3% while automakers Daimler, BMW, and Volkswagen are up between 0.8% and 1.2%. Financials are mixed with Deutsche Bank adding 0.8% while Commerzbank trades lower by 0.2%.

08:33AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +6.40.

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

Just in, second quarter unit labor costs were revised downward to +0.2% (Briefing.com consensus +0.3%) from +0.6% in the preliminary reading. Meanwhile, second quarter productivity was revised upward to +1.5% (Briefing.com consensus +1.2%) from +0.9% in the preliminary reading.

Separately, the latest weekly initial jobless claims count totaled 298,000 while the Briefing.com consensus expected a reading of 239,000. Today's tally was above the unrevised prior week count of 236,000. As for continuing claims, they declined to 1.940 million from the revised count of 1.945 million (from 1.942 million).

07:55AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +8.90.

The stock market bounced back on Wednesday following a disappointing start to the abbreviated week with the major U.S. indices all climbing 0.3%. Investors have tapped the brakes this morning, however, following the ECB's decision to keep interest rates unchanged and ahead of ECB President Mario Draghi's post-decision press conference, which will kick off at around 8:30 ET.

Equity futures are trading relatively flat with the S&P 500 futures hovering just one point above fair value. Barring a shift in sentiment, the S&P 500 will open Thursday's session about 0.4% below last Friday's closing level and about 0.6% below its record-high close, which it posted exactly one month ago on August 7.

The U.S. Dollar Index (97.79, -0.42) is down 0.4% following a slow and steady overnight retreat. The greenback has dropped 0.5% against the euro to 1.1973. Meanwhile, U.S. Treasuries are trading higher across the curve with the benchmark 10-yr yield dropping two basis points to 2.09%. The 10-yr yield currently hovers near a 10-month low.

On the data front, 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.

Also of note, the Energy Information Administration (EIA) will release its weekly crude inventory report this morning at 11:00 ET. WTI crude futures are currently down 0.2% at $49.05/bbl following last night's API inventory report, which showed a build of 2.8 million barrels in U.S. crude stocks for the week ended September 1.

In U.S. corporate news:

Restoration Hardware (RH 66.76, +17.34): +35.1% after beating both top and bottom line estimates and issuing upbeat guidance.
GoPro (GPRO 10.10, +1.20): +13.5% after saying it expects that third-quarter revenue and gross margin will be at the high end of its guidance.
Cabela's (CAB 61.30, +7.86): +14.7% following news that the Fed has approved the purchase of Cabela's World's Foremost Bank.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a mixed note. Japan's Nikkei +0.2%, Hong Kong's Hang Seng -0.3%, China's Shanghai Composite -0.6%, India's Sensex unch.
In economic data:
Japan's July Leading Index 105.0 (expected 105.2; last 105.9). July Coincident Indicator -1.2% month-over-month (last 1.0%)
China's FX Reserves $3.092 trillion (expected $3.095 trillion; last $3.081 trillion)
Australia's July Retail Sales 0.0% month-over-month (expected 0.3%; last 0.2%). July trade surplus narrowed to AUD460 million from AUD888 million (expected surplus of AUD875 million). July Imports -1.0% month-over-month (last 2.0%) and July Exports -2.0% month-over-month (last -1.0%). August AIG Construction Index 55.3 (last 60.5)
In news:
South Korea began deploying additional THAAD launchers to strengthen defenses against North Korea. It is worth noting that China and Russia have voiced opposition to an additional THAAD deployment in recent past.
The Japanese yen retraced the bulk of yesterday's loss against the dollar, catching a bid after South Korea's Prime Minister Lee Nak-yeon reiterated that another North Korean missile test is likely this weekend.

Major European indices trade on a higher note ahead of post-decision comments from ECB President Mario Draghi. UK's FTSE +0.5%, France's CAC +0.8%, Germany's DAX +1.0%.
In economic data:
Eurozone Q2 GDP +0.6% quarter-over-quarter, as expected (last 0.6%); +2.3% year-over-year (expected 2.2%; last 2.2%)
Germany's July Industrial Production 0.0% month-over-month (expected 0.6%; last -1.1%)
UK's August Halifax House Price Index +1.1% month-over-month (expected 0.2%; last 0.7%); +2.6% year-over-year (consensus 2.1%; last 2.1%)
In news:
The European Central Bank decided to keep interest rates unchanged, as expected.
In Spain, the Catalan parliament voted in favor of holding an independence referendum on October 1. The vote was held after a 12-hour session and it took place despite significant opposition from Prime Minister Mariano Rajoy's government. However, neither Spanish equities nor Spanish debt have shown much stress in response to criminal charges being presented against the Catalan government and the Catalan parliament speaker.

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: +1.00.
05:52AM ET

[BRIEFING.COM] Nikkei

...19396.5...+38.60

...+0.20%

. Hang Seng

...27523...-90.80

...-0.30%

05:52AM ET

[BRIEFING.COM] FTSE

...7367.78...+13.70

...+0.20%

DAX...12332.08...+117.50

...+1.00%

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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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