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 Post subject: September 8th Friday Trade Results - No Trades
PostPosted: Sat Sep 09, 2017 5:25 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
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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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Quote:
No trades today. Relaxation and some unexpected personal events required my full attention involving my kids and their school administration.

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($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 @ $0.00 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=2643

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: +13.01… | Nasdaq: -37.68… | S&P: -3.67…
NASDAQ Vol: 1.78 bln… Adv: 1371… Dec: 1254…
NYSE Vol: 801.1 mln… Adv: 1377… Dec: 1546…

Moving the Market

Hurricane Irma is on track to hit Florida this weekend

North Korea is expected to conduct another missile test over the weekend

Financials outperform as insurers bounce back from hurricane-related weakness

Sector Watch
Strong: Financials, Industrials, Health Care, Utilities
Weak: Consumer Discretionary, Energy, Technology, Consumer Staples
04:30PM ET

[BRIEFING.COM] The major U.S. indices closed out the abbreviated week on a mixed note as investors looked ahead to the weekend, which could see Hurricane Irma's arrival in Florida and another North Korean missile test in celebration of the country's 69th anniversary. The Dow ticked up 0.1% while the S&P 500 and the Nasdaq settled with losses of 0.2% and 0.6%, respectively. For the week, the S&P 500 lost 0.6%.

Property and casualty insurers bounced back on Friday after spending recent weeks on the decline in response to hurricane-related concerns. Travelers (TRV 119.76, +4.58) was the strongest component within the Dow and among the strongest names within the heavily-weighted financial sector, which settled at the top of the sector standings. TRV shares climbed 4.0%.

In total, four sectors finished Friday's session in the green--financials (+0.8%), industrials (+0.3%), health care (+0.4%), and utilities (+0.4%)--while seven groups ended the day in the red--consumer discretionary (-0.4%), energy (-1.1%), materials (unch), technology (-0.9%), consumer staples (-0.7%), telecom services (-0.1%), and real estate (unch).

Chipmakers weighed heavily on the technology sector, evidenced by the PHLX Semiconductor Index, which dropped 1.3%. Qualcomm (QCOM 49.64, -0.74) lost 1.5% after a federal judged denied the company's bid to dismiss a patent-royalty lawsuit, allowing Apple (AAPL 158.63, -2.63) manufacturers to continue withholding royalty payments as the case continues.

Elsewhere, retailers struggled after Target (TGT 57.27, -1.15) announced that it is cutting prices on thousands of items and Kroger (KR 21.06, -1.71) said that it will stop providing long-term earnings guidance due to the "dynamic operating environment." The companies' shares moved lower by 2.0% and 7.5%, respectively.

Equifax (EFX 123.23, -19.49) plunged 13.7% after announcing that around 143 million of its U.S. customers had their personal information stolen in a data hack. Reports indicate that the company first discovered the compromise in late July and three senior executives sold about $1.7 million in stock soon thereafter.

In Washington, the House 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 bill, which passed the Senate on Thursday, now just needs President Trump's signature.

U.S. Treasuries settled Friday mostly flat with the benchmark 10-yr yield closing at its unchanged mark (2.06%). Meanwhile, the 2-yr yield moved two basis points lower, finishing at 1.25%.

Reviewing Friday's economic data, which included July Wholesale Inventories and July Consumer Credit:

July Wholesale Inventories increased 0.6% (Briefing.com consensus +0.4%). The prior month's reading was revised to +0.6% from +0.7%.
The Consumer Credit report for July showed an increase of $18.5 billion while the Briefing.com consensus expected growth of $15.0 billion. The prior month's credit growth was revised to $11.9 billion from $12.4 billion.
Provided consumers weren't making greater use of revolving credit lines to cover basic needs due to a shortfall in income, this report can ostensibly be looked upon as a good sign for the economy since the expansion of credit is an integral contributor to economic growth. It is hard to say, though, because there isn't enough detail in the report and it is often subject to large revisions, which is why the market rarely shows much reaction to it.

Investors will not receive any economic data on Monday.

Nasdaq Composite +18.2% YTD
Dow Jones Industrial Average +10.3% YTD
S&P 500 +9.9% YTD
Russell 2000 +3.1% YTD

Week In Review: Still Within Striking Distance

The major U.S. indices all moved lower this week as geopolitical tensions with North Korea, declining confidence in the feasibility of tax reform, and Hurricane Irma--which is expected to hit Florida this weekend--weighed on investor sentiment. The Nasdaq led the retreat, dropping 1.2%, while the Dow and the S&P 500 finished with respective losses of 0.9% and 0.6%.

Even though the equity market settled lower for the week, it remains within striking distance of its all-time high; the S&P 500 finished Friday's session just 0.8% below its record-high close of 2,480.91. Treasuries rallied this week, sending yields to new lows for the year. The benchmark 10-yr yield dropped 11 basis points to 2.06%, hitting its lowest level since early November.

Similarly, other safe-haven assets--like gold and the Japanese yen--moved higher, jumping 1.6% and 2.3%, respectively. The yellow metal settled at a 13-month high ($1,351.10/ozt) while the dollar/yen pair finished at a ten-month low (107.78). In addition, the CBOE Volatility Index (VIX) spiked 20.2% to 12.18. The financial sector (-2.8%) was pressured by the decline in Treasury yields, but most of the remaining groups finished with losses of no more than 1.1%.

Relative strength in heavyweight names like Home Depot (HD), Exxon Mobil (XOM), and Pfizer (PFE) prevented the stock market from a significant decline, but there were some soft spots in small-cap and high-beta pockets of the market. The small-cap Russell 2000--which is seen as a leading indicator given that small-cap companies largely rely on domestic consumers--underperformed, dropping 1.0%. After pacing the stock market's post-election rally, the small-cap index now holds a year-to-date gain of just 3.1%, far below the S&P 500's year-to-date advance of 9.9%.

High-beta chipmakers also struggled, sending the PHLX Semiconductor Index lower by 2.3%. Large-cap names like Qualcomm (QCOM) and NVIDIA (NVDA) showed particular weakness, settling with losses of 4.6% and 4.0%, respectively. Still, for the year, the PHLX Semiconductor Index is higher by 20.6%.

Following this week's events, the fed funds futures market places the chances of a December rate hike at 31.9%, down from last week's 43.7%.

Dow: +13.01… | Nasdaq: -37.68… | S&P: -3.67…

NASDAQ Adv/Dec 1371/1254. …NYSE Adv/Dec 1377/1546.

03:50PM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 1.05% at 84.7622
Dollar index is down 0.37% at 91.32.
Oct WTI crude is lower on the day.
Baker Hughes total U.S. rig count increased by 1 to 944 following last week's increase of 3
Futures settled $1.68 lower to $47.42/barrel.
In other energy, Oct natural gas settled down $0.09 at $2.89/MMBtu
On to metals:
Dec gold gained $0.70 to settle at $1351.10/oz, while Sept silver gained $0.20 to $18.13/oz
Sept copper lost $0.10 to $3.04/lb
Finally, agriculture:
Dec corn settled $0.02 higher at $3.57/bu.
Nov soy settled down $0.08 at $9.61/bu.
Dec wheat is higher $0.01 at $4.38/bu.

Dow: +21.86… | Nasdaq: -37.35… | S&P: -3.13…

NASDAQ Adv/Dec 1408/1327. …NYSE Adv/Dec 1332/1593.

03:00PM ET

[BRIEFING.COM] The S&P 500 enters the final hour of action with a slim loss of 0.1%. For the week, the benchmark index is currently down 0.5%.

Just in, the Consumer Credit report for July showed an increase of $18.5 billion while the Briefing.com consensus expected growth of $15.0 billion. The prior month's credit growth was revised to $11.9 billion from $12.4 billion.

Dow: +33.10… | Nasdaq: -33.07… | S&P: -1.27…

NASDAQ Adv/Dec 1444/1336. …NYSE Adv/Dec 1395/1506.

02:30PM ET

[BRIEFING.COM] Equity indices continue to trade mixed this afternoon with the benchmark S&P 500 hovering right at its unchanged mark.

Five of the eleven sectors currently trade in positive territory, including financials (+1.0%), industrials (+0.4%), health care (+0.4%), utilities (+0.5%), and real estate (+0.3%). As for the laggards, the energy (-1.1%), technology (-0.7%), consumer staples (-0.7%), consumer discretionary (-0.3%), and telecom services (-0.3%) spaces underperform while the materials group (unch) trades in line with the broader market.

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

Dow: +46.76… | Nasdaq: -30.25… | S&P: -0.46…

NASDAQ Adv/Dec 1452/1356. …NYSE Adv/Dec 1400/1483.

02:00PM ET

[BRIEFING.COM] Equity indices continue trending sideways this afternoon, leaving the S&P 500 just a tick below its unchanged mark.

The top-weighted technology sector has struggled today, extending its week-to-date loss to 0.8%. Chipmakers have exhibited particular weakness, evidenced by the PHLX Semiconductor Index, which has dropped 1.1% in today's session. On a positive note, Symantec (SYMC 31.69, +1.09) is solidly higher, up 3.6%, after Equifax (EFX 123.50, -19.22) announced that data on approximately 143 million of its U.S. customers was obtained in a security breach.

Looking ahead, Apple (AAPL 159.30, -1.96) is expected to unveil its much-anticipated iPhone 8 at a product event on Tuesday, approximately ten years after the original iPhone launch. The hype has undoubtedly played a big role in Apple's huge year-to-date advance, which currently sits at 37.5%.

Dow: +34.87… | Nasdaq: -26.24… | S&P: -1.47…

NASDAQ Adv/Dec 1456/1351. …NYSE Adv/Dec 1379/1500.

01:35PM ET

[BRIEFING.COM] The major U.S. indices continue to trade mixed in afternoon trading as stocks move sideways following this morning's economic data.

A look inside the Dow Jones Industrial Average shows that Travelers (TRV 119.44, +4.26), Home Depot (HD 160.20, +2.27), Boeing (BA 239.26, +2.95) are outperforming. Travelers is leading the Dow higher as insurers see a small reprieve following recent extended weakness amid a slew of hurricanes affecting the US. Similarly, Home Depot is again advancing after projections indicate that Hurricane Irma could produce massive destruction throughout Florida when it makes landfall this weekend.

Conversely, Wal-Mart (WMT 78.60, -1.52) is the worst-performing Dow component after peer Target (TGT 56.71, -1.71) announced it was lowering its prices on thousands of items.

For the week, the DJIA is poised to close lower by 0.77%.

Dow: +44.65… | Nasdaq: -20.01… | S&P: -0.67…

NASDAQ Adv/Dec 1435/1360. …NYSE Adv/Dec 1328/1528.

01:05PM ET

[BRIEFING.COM] The major U.S. indices are mixed for the second day in a row with the Dow (+0.3%) showing relative strength and the Nasdaq (-0.3%) showing relative weakness. The benchmark S&P 500 currently hovers at its unchanged mark and, at its current level, is poised to end the week with a loss of around 0.5%.

Property and casualty insurers have bounced back today after struggling for the last few weeks amid hurricane-related concerns, helping send the heavily-weighted financial sector (+1.0%) to the top of today's leaderboard. On a related note, Hurricane Irma has continued creeping toward Florida, prompting a massive evacuation of the Miami-area, where the storm is expected to hit this weekend.

In addition, Hurricane Jose--which has been upgraded to a category 4 storm--currently sits east of the Leeward Islands and looks poised to move northwest toward the U.S. mainland in the coming days.

Like the financial group, the industrials (+0.4%), health care (+0.5%), real estate (+0.3%), and utilities (+0.1%) groups are trading in positive territory. Today's positive performance places the health care space at the top of the week's leaderboard with a week-to-date gain of 1.7%.

Coming into Friday's session, the energy sector held the top spot in the weekly sector standings, but the group has slipped into second place after dropping 1.0% in today's session. Crude oil has acted as a bearish influence on the group, dropping 2.1% to $48.08/bbl, as reports indicate that refineries have been slow to come back online following Hurricane Harvey.

The consumer staples group (-0.8%) has also struggled today with Kroger (KR 20.55, -2.22) leading the retreat. The grocery retailer has dropped 9.8% to its lowest level in over three years after saying that it is only going to provide annual guidance, not longer-term guidance, in this "dynamic operating environment."

Meanwhile, Target (TGT 56.37, -2.04) has dropped 3.5% following a recent blog post, in which the company touts new lower prices. Peers like Wal-Mart (WMT 78.51, -1.63) and Dollar General (DG 74.86, -1.53) have followed suit, losing around 2.0% apiece. The SPDR S&P Retail ETF ( 40.03, -0.34) is down 0.9%.

In the bond market, U.S. Treasuries are trading flat across the curve with the benchmark 10-yr yield unchanged at 2.06%. For the week, the 10-yr yield is down 11 basis points.

Reviewing Friday's economic data, which has been limited to July Wholesale Inventories thus far:

July Wholesale Inventories increased 0.6% (Briefing.com consensus +0.4%). The prior month's reading was revised to +0.6% from +0.7%.

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

Dow: +47.29… | Nasdaq: -21.45… | S&P: -0.60…

NASDAQ Adv/Dec 1489/1301. …NYSE Adv/Dec 1405/1437.

12:30PM ET

[BRIEFING.COM] The S&P 500 (-0.1%) is still trading just a tick below its unchanged mark this afternoon while the Nasdaq has extended its loss to 0.4%.

Target (TGT 56.62, -1.77) has dropped rapidly in recent action following a recent blog post, in which the company touts new lower prices. TGT shares are down 2.7% with peers like Wal-Mart (WMT 78.63, -1.51) and Dollar General (DG 75.11, -1.28) following suit, losing around 1.8% apiece. The SPDR S&P Retail ETF (XRT 39.97, -0.40) is down 1.0%.

The two sectors that house the aforementioned companies--consumer discretionary (-0.4%) and consumer staples (-0.8%)--are both trading behind the broader market.

Dow: +45.56… | Nasdaq: -25.70… | S&P: -1.63…

NASDAQ Adv/Dec 1407/1368. …NYSE Adv/Dec 1336/1487.

12:05PM ET

[BRIEFING.COM] The major U.S. indices continue to trade mixed moving into the afternoon with the Dow (+0.2%) showing relative strength.

Within the industrial average, Travelers (TRV 118.83, +3.62) is the top performer, climbing 3.1%, as property and casualty names bounce back from recent weakness related to the destruction of Hurricane Harvey and the potential impact of Hurricane Irma, which is expected to hit Florida this weekend. On the flip side, Wal-Mart (WMT 78.79, -1.35) is the weakest Dow component, dropping 1.7%, following peer Kroger's (KR 20.53, -2.24) latest earnings report, which largely met expectations.

Kroger did note, however, that it is only going to provide annual guidance, not longer-term guidance, in this "dynamic operating environment." KR shares are currently down 10.0%.

Dow: +37.61… | Nasdaq: -18.89… | S&P: -0.93…

NASDAQ Adv/Dec 1500/1260. …NYSE Adv/Dec 1404/1380.

11:30AM ET

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

Chipmakers are struggling today, evidenced by the PHLX Semiconductor Index, which currently shows a loss of 1.1%. Qualcomm (QCOM 49.05, -1.32) is one of the weakest semiconductor names within the top-weighted technology sector (-0.4%) following news that the company lost a bid that would have forced Apple (AAPL 159.96, -1.30) contractors to pay Qualcomm royalties.

Elsewhere, the price of crude oil dropped sharply at around 10:00 ET this morning with no obvious catalyst to credit for the move. Despite today's disappointing performance, the commodity is still trading solidly higher for the week, up 1.8%.

Dow: +41.62… | Nasdaq: -12.43… | S&P: +0.56…

NASDAQ Adv/Dec 1515/1233. …NYSE Adv/Dec 1408/1355.

11:05AM ET

[BRIEFING.COM] The major averages are trading mixed this morning with the Dow (+0.2%) showing relative strength while the Nasdaq (-0.2%) shows relative weakness.

Financials are looking to end a largely disappointing week on a positive note, trimming the financial sector's week-to-date loss to 2.7%. The financial group has climbed 0.9% in today's session, amid broad strength, with property and casualty insurers showing particular strength; Dow component Travelers (TRV 117.63, +2.45) is higher by 2.1%.

Insurers have struggled in recent weeks amid concerns surrounding Hurricane Harvey's destruction along the Texas coast and the potential destruction of Hurricane Irma, which is projected to hit Florida this weekend. Despite today's rally, TRV shares have dropped 9.1% since August 16.

Dow: +39.06… | Nasdaq: -15.48… | S&P: -0.56…

NASDAQ Adv/Dec 1465/1297. …NYSE Adv/Dec 1346/1386.

10:30AM ET

[BRIEFING.COM] Commodities begin the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.37% at 85.3445
Dollar index is down 0.38% at 91.31.
Oct WTI crude is down on the day.
The Baker Hughes rig count will be announced at 1pm ET today.
Leading into rig data, futures are $0.28 lower to $48.81/barrel.
In other energy, Oct natural gas is sliding, down $0.058 at $2.923/MMBtu
Precious metals are holding steady as copper is moving sharply lower:
Dec gold gained $2.10 and trades at $1352.40/oz, while Sept silver gained $0.039 to $18.155/oz
Sept copper lost $0.0735 to $3.07/lb
Finally, agriculture:
Dec corn is up $0.02 at $3.5725/bu.
Nov soy is up $0.0175 at $9.705/bu.
Dec wheat is up $0.025 at $4.3975/bu.

Dow: +2.97… | Nasdaq: -19.69… | S&P: -2.58…

NASDAQ Adv/Dec 1215/1508. …NYSE Adv/Dec 1190/1517.

10:00AM ET

[BRIEFING.COM] Equities have ticked up in recent action, pushing the Dow (+0.1%) into positive territory.

Just released, July Wholesale Inventories increased 0.6% (Briefing.com consensus +0.4%). The prior month's reading was revised to +0.6% from +0.7%.

Dow: +21.17… | Nasdaq: -12.38… | S&P: -0.83…

NASDAQ Adv/Dec 1198/1437. …NYSE Adv/Dec 1056/1595.

09:45AM ET

[BRIEFING.COM] The major U.S. indices opened Friday's session modestly lower with the S&P 500 showing a loss of 0.2%.

Nearly all of the eleven sectors are currently trading in the red with losses ranging between 0.1% and 0.4%. The energy space (-0.4%) has been the weakest sector in the early going, but still holds a comfortable lead on its peers for the week, sporting a week-to-date gain of 2.0%. On the flip side, the financial space is up 0.4%, trimming its week-to-date loss to 3.2%.

U.S. Treasuries are trading flat this morning, leaving the benchmark 10-yr yield unchanged at 2.06%. The first of Friday's two economic reports--July Wholesale Inventories (Briefing.com consensus 0.4%)--will be released shortly at 10:00 ET.

Dow: -27.74… | Nasdaq: -11.49… | S&P: -3.50…

NASDAQ Adv/Dec 1172/1398. …NYSE Adv/Dec 938/1656.

09:13AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: -13.90.

Conviction remains low this morning following yesterday's flat performance on Wall Street, keeping the S&P 500 futures roughly in line with fair value. The benchmark index enters Friday's session with a week-to-date loss of 0.5%, a large chunk of which can be credited to the heavily-weighted financial sector, which has dropped 3.6% so far this week.

Hurricane Irma remains in play today as it continues to creep closer to the populous state of Florida, where it is expected to make landfall early on Sunday morning. Investors will also have their eyes on North Korea this weekend as the hermit nation is expected to conduct another missile test in celebration of its 69th anniversary.

U.S. Treasuries were trading higher earlier this morning, but have been ticking down as of late, returning to their unchanged marks. The benchmark 10-yr yield currently trades flat at 2.06%. Meanwhile, the U.S. Dollar Index (91.22, -0.27) has come up from its overnight low, but still shows a loss of 0.3%. The yen has weighed heavily on the greenback, jumping 0.6% to 107.75.

In corporate news, Kroger (KR 21.22, -1.55) has dropped 6.8% in pre-market action after reporting in-line earnings results for its second quarter and announcing that it is only going to provide annual guidance, not longer-term guidance, in this "dynamic operating environment."

On the data front, investors will receive just two economic reports today--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.

08:51AM ET

[BRIEFING.COM] S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: -11.30.

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

Equity indices in the Asia-Pacific region ended the week on a mixed note. The dollar remained weak in overnight action, retreating against the Australian dollar, yen, yuan, euro, and others. China's trade data was mixed, missing headline expectations, while imports grew at a faster than expected pace. China's air force reportedly held exercises near the Korean peninsula and South Korea reminded that a North Korean missile test is likely to take place on or near September 9.

In economic data:
China's August trade surplus $41.99 billion (expected $48.60 billion; last $46.73 billion). August Imports +13.3% year-over-year (expected 10.0%; last 11.0%) and August Exports +5.5% year-over-year (consensus 6.0%; last 7.2%)
Japan's Q2 GDP +0.6% quarter-over-quarter (expected 0.7%; last 1.0%); +2.5% year-over-year (consensus 2.9%; last 4.0%). July Current Account surplus JPY2.03 trillion (expected surplus of JPY1.65 trillion; last surplus of JPY1.52 trillion). August Economy Watchers Current Index 49.7 (expected 49.5; last 49.7)
Australia's July Home Loans +2.9% month-over-month (expected 1.0%; last 1.2%) and July Invest Housing Finance -3.9% month-over-month (last 1.6%)
New Zealand's Q2 Manufacturing Sales Volume +1.0% quarter-over-quarter (last -0.3%)

---Equity Markets---

Japan's Nikkei lost 0.6%. The index gave up 2.1% for the week, retreating to levels from late April. Olympus, Okuma, JGC, Daikin Industries, Fast Retailing, Kirin Holdings, NKSJ Holdings, Asahi Group Holdings, Sapporo Holdings, Fujifilm Holdings, Japan Tobacco, Sony Financial Holdings, Konami, and Familymart posted losses between 1.6% and 2.9%. On the upside, Chugai Pharmaceutical, Trend Micro, Haseko, Komatsu, and Sony added between 0.9% and 2.7%.
Hong Kong's Hang Seng rose 0.5%, narrowing this week's loss to 1.0%. Property names finished in the lead after Henderson Land, which surged 5.7%, agreed to a joint development with CIFI Holdings. New World Development, SHK Properties, Cheung Kong Property Holdings, and Sino Land gained between 3.3% and 5.3%. On the downside, Apple supplier AAC Technologies lost 1.1%, surrendering 4.3% for the week.
China's Shanghai Composite settled just below its flat line, shedding 0.1% for the week. Xi'an Hongsheng Technology, Sino-Platinum Metals, BEIH-Property, Shenzhen Kingdom Technology, and Jilin Forest Industry lost between 2.4% and 2.7%.
India's Sensex added 0.1%, rising 0.3% for the week. Larsen & Toubro jumped 4.1% while tech consultants were mixed. Tata Consultancy and Wipro both gained near 0.5% while Infosys lost 1.3%. On the downside, Mahindra&Mahindra, Dr. Reddy's Labs, Sun Pharma, and Bajaj Auto lost between 1.8% and 3.3%.

Major European indices trade in mixed fashion, staying true to the dynamic seen earlier this week. The Spanish Constitutional Court ordered Catalan officials to stop the independence referendum planned for October 1, but the order appears to have been ignored, considering there is evidence of ongoing preparations for a vote in just over three weeks. It is worth noting that Catalan officials believe that Catalonia can declare independence from Spain within 48 hours after a 'yes' vote. Greek Prime Minister Alexis Tsipras said Greece will not need more bailout funds after August 2018.

In economic data:
Germany's July trade surplus EUR19.50 billion (expected surplus of EUR20.30 billion; last surplus of EUR21.20 billion)
UK's July Industrial Production +0.2% month-over-month, as expected (last 0.5%); +0.4% year-over-year, as expected (last 0.3%). July Manufacturing Production +0.5% month-over-month (expected 0.3%; last 0.0%); +1.9% year-over-year (consensus 1.7%; last 0.6%). July trade deficit GBP11.58 billion (expected deficit of GBP11.95 billion; last deficit of GBP11.53 billion). July Construction Output -0.9% month-over-month (expected -0.2%; last -0.1%); -0.4% year-over-year (consensus 0.2%; last 0.9%)
France's July Industrial Production +0.5% month-over-month (expected 0.6%; last -1.1%)
Spain's July Industrial Production +1.9% year-over-year (consensus 2.5%; last 2.6%)
Swiss August Unemployment Rate held at 3.2%, as expected

---Equity Markets---

UK's FTSE is lower by 0.4% with homebuilders and other consumer names contributing to the weakness. Persimmon, Taylor Wimpey, and Barratt Developments are down between 1.3% and 1.9% while Marks & Spencer, Next, ITV, Sainsbury, Dixons Carphone, and Merlin Entertainments have given up between 0.8% and 2.7%.
France's CAC has shed 0.1%. Peugeot is down 4.4% after being hit with a EUR5 billion fine. Peer Renault is down 1.0% while financials outperform. AXA, BNP Paribas, Societe Generale, and Credit Agricole hold gains between 0.4% and 1.0%.
Germany's DAX hovers just above its flat line. Commerzbank and Deutsche Bank are up 1.0% and 0.5%, respectively, while automakers are mixed. Volkswagen and Daimler have added around 0.5% apiece while BMW has shed 0.4%. On the flip side, Siemens and Prosiebensat show respective losses of 0.6% and 1.2%.

08:25AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: -13.50.

The S&P 500 futures trade two points, or 0.1%, below fair value.

Coming into Friday's session, five out of eleven sectors hold week-to-date gains. The energy sector (+2.4%) is by far the top performer, followed by the health care (+1.1%), real estate (+0.8%), consumer staples (+0.7%), and utilities (+0.5%) groups. On the flip side, the telecom services (-4.4%) and financials (-3.6%) spaces hover at the bottom of the leaderboard while the remaining laggards hold losses ranging from 0.2% (technology) to 1.1% (materials).

Given its significant influence, the underperformance of the financial sector has weighed heavily on the broader market. This week's slide reduces the financial space's year-to-date gain to 2.3%, which is a ways below the S&P 500's year-to-date advance of 10.1%.

08:00AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: -13.80.

The S&P 500 held its ground on Thursday, keeping a lid on its week-to-date loss, which currently sits at 0.5%. Not much has changed this morning as many of the same concerns are still in play, including Hurricane Irma and a probable North Korean missile test. The S&P 500 futures point to a slightly lower open for the benchmark index, drifting around one point below fair value.

Property and casualty insurers have struggled this week as Hurricane Irma has continued to move closer to the populous state of Florida. Current projections show that the storm, which has recently been downgraded to an "extremely dangerous" category 4 hurricane, could hit Miami early on Sunday morning. However, as it did amid Hurricane Harvey, the stock market has held up relatively well overall.

Elsewhere, many expect that North Korea could conduct another missile test as early as this Saturday, which marks the 69th anniversary of the country's founding. It's unclear what the international response would be to another missile test, but President Trump did say "all options are on the table" following last week's launch from Pyongyang, which flew over the Japanese island of Hokkaido.

In the bond market, U.S. Treasuries are higher once again with the benchmark 10-yr yield dropping three basis points to 2.03%, which marks a 10-month low. Meanwhile, the U.S. Dollar Index (91.06, -0.43) has continued moving lower, dropping another 0.5% to extend its week-to-date loss to 1.8%.

On the data front, investors will receive just two economic reports today--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.

In U.S. corporate news:

Kroger (KR 22.50, -0.27): -1.2% after delivering a mostly in-line earnings report.
Equifax (EFX 121.50, -21.22): -14.9% after announcing that data on approximately 143 million U.S. customers was obtained in a security breach.
Zumiez (ZUMZ 15.20, +2.00): +15.2% after beating earnings estimates, reporting a year-over-year increase of 7.4% in comparable same-store sales, and issuing above-consensus guidance.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mixed note. Japan's Nikkei -0.6%, Hong Kong's Hang Seng +0.5%, China's Shanghai Composite unch, India's Sensex +0.1%.
In economic data:
China's August trade surplus $41.99 billion (expected $48.60 billion; last $46.73 billion). August Imports +13.3% year-over-year (expected 10.0%; last 11.0%) and August Exports +5.5% year-over-year (consensus 6.0%; last 7.2%)
Japan's Q2 GDP +0.6% quarter-over-quarter (expected 0.7%; last 1.0%); +2.5% year-over-year (consensus 2.9%; last 4.0%). July Current Account surplus JPY2.03 trillion (expected surplus of JPY1.65 trillion; last surplus of JPY1.52 trillion). August Economy Watchers Current Index 49.7 (expected 49.5; last 49.7)
Australia's July Home Loans +2.9% month-over-month (expected 1.0%; last 1.2%) and July Invest Housing Finance -3.9% month-over-month (last 1.6%)
New Zealand's Q2 Manufacturing Sales Volume +1.0% quarter-over-quarter (last -0.3%)
In news:
China's air force reportedly held exercises near the Korean peninsula and South Korea reminded that a North Korean missile test is likely to take place on or near September 9.

Major European indices trade in mixed fashion, staying true to the dynamic seen earlier this week. UK's FTSE -0.5%, France's CAC -0.2%, Germany's DAX unch.
In economic data:
Germany's July trade surplus EUR19.50 billion (expected surplus of EUR20.30 billion; last surplus of EUR21.20 billion)
UK's July Industrial Production +0.2% month-over-month, as expected (last 0.5%); +0.4% year-over-year, as expected (last 0.3%). July Manufacturing Production +0.5% month-over-month (expected 0.3%; last 0.0%); +1.9% year-over-year (consensus 1.7%; last 0.6%). July trade deficit GBP11.58 billion (expected deficit of GBP11.95 billion; last deficit of GBP11.53 billion). July Construction Output -0.9% month-over-month (expected -0.2%; last -0.1%); -0.4% year-over-year (consensus 0.2%; last 0.9%)
France's July Industrial Production +0.5% month-over-month (expected 0.6%; last -1.1%)
Spain's July Industrial Production +1.9% year-over-year (consensus 2.5%; last 2.6%)
Swiss August Unemployment Rate held at 3.2%, as expected
In news:
The Spanish Constitutional Court ordered Catalan officials to stop the independence referendum planned for October 1, but the order appears to have been ignored, considering there is evidence of ongoing preparations for a vote in just over three weeks. It is worth noting that Catalan officials believe that Catalonia can declare independence from Spain within 48 hours after a 'yes' vote.
Greek Prime Minister Alexis Tsipras said Greece will not need more bailout funds after August 2018.

06:37AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: -12.90.
06:37AM ET

[BRIEFING.COM] Nikkei...19275...-121.70...-0.60%

Hang Seng...27668.5...+145.60...+0.50%

06:37AM ET

[BRIEFING.COM] FTSE

...7383.02...-14.00

...-0.20%

DAX...12305.64...+9.00

...+0.10%

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

Image Price Action Trading @ http://www.thestrategylab.com/price-action-trading.htm

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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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