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 Post subject: September 13th Wednesday Trade Results - Profit $125.00
PostPosted: Thu Sep 14, 2017 9:17 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 @ $125.00 dollars or +2.50 points, Light Crude Oil CL ($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 @ $125.00 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=2646

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: +39.32… | Nasdaq: +5.91… | S&P: +1.89…
NASDAQ Vol: 1.94 bln… Adv: 1454… Dec: 1263…
NYSE Vol: 824.0 mln… Adv: 1514… Dec: 1367…

Moving the Market

Investors hit pause following two days of gains; averages sit at record highs

Top-weighted technology sector shows relative weakness with Apple (AAPL) declining in the wake of Tuesday's product event

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

[BRIEFING.COM] The week's bullish momentum petered out on Wednesday, but, thanks to a late-afternoon rally, the S&P 500 (+0.1%), the Nasdaq (+0.1%), and the Dow (+0.2%) still managed to register new record-high closes. The major averages hovered near their flat lines throughout Wednesday's session as investors lacked conviction amid a shortage of market-moving catalysts.

Traders kept an eye on Apple (AAPL 159.65, -1.21) throughout the midweek session, looking to see how the tech giant would respond to yesterday's product event--in which the company unveiled a trio of iPhones, including the much-anticipated iPhone X. AAPL shares were weak throughout the session and eventually ended the day with a sizable loss of 0.8%.

The company's Wednesday decline, which was preceded by a 0.4% drop on Tuesday, was attributed by some to the iPhone X's later-than-expected release date (November 3), but profit taking on the heels of a major event was also a likely contributing factor considering Apple has made a massive run this year (+37.8% YTD).

Nonetheless, the broader market held up relatively well as investors rotated into some of the sectors that have struggled so far this year--including the energy sector, which settled at the top of the day's leaderboard (+1.2%). The energy space benefited from a rally within the crude oil futures market that sent the price of WTI crude to $49.30/bbl, a one-day increase of 2.2%.

The commodity was underpinned by the International Energy Agency's prediction that global oil demand is set to accelerate at its fastest pace in two years and the weekly EIA inventory report, which showed a much greater-than-expected decline in gasoline inventories (8.4 million actual vs 2.1 million consensus)--a positive sign for future crude demand.

However, it's important to note that hurricane-related factors were also at play in this week's EIA inventory report, which also showed a larger than expected build of crude stockpiles (5.9 million barrels actual vs 3.2 million consensus).

Like energy, the telecom services sector bucked its bearish year-to-date trend, climbing higher by 0.8%, to finish roughly in line with the consumer discretionary space (+0.7%) near the top of the leaderboard. Retailers helped underpin the consumer discretionary group's positive performance, evidenced by the SPDR S&P Retail ETF (XRT 41.38, +0.43), which advanced 1.1%.

Within the retail space, Nordstrom (JWN 47.74, +2.69) showed notable strength, jumping 6.0%, following reports that the company is nearing a deal with private equity firm Leonard Green that would help the high-end retailer go private. Target (TGT 59.51, +1.62) also outperformed, adding 2.8%, after announcing plans to hire around 100,000 employees for the upcoming holiday season.

The heavily-weighted financial sector (+0.2%) also finished in the green, marking its third-straight victory, as did the consumer staples group (+0.1%). On the flip side, six groups finished in the red--industrials (-0.1%), materials (unch), technology (-0.2%), health care (-0.4%), utilities (-0.5%), and real estate (-0.4%)--but losses were modest for the most part.

In the bond market, Treasuries slipped once again, sending yields higher for the third session in a row. The benchmark 10-yr yield climbed three basis points to 2.20%, which marks its best level of the month. Meanwhile, the U.S. Dollar Index (92.42, +0.53) jumped 0.6% to register its third-consecutive advance.

Reviewing Wednesday's economic data, which was limited to the Producer Price Index for August, the Treasury Budget for August, and the weekly MBA Mortgage Applications Index:

Producer prices rose 0.2% in August, while the Briefing.com consensus expected an increase of 0.3%. Meanwhile, core producer prices rose 0.1%, which is below the 0.2% increase that the Briefing.com consensus expected. Year-over-year, core producer prices are up 2.0%.
The key takeaway from the report is that producer prices picked up in August without any full-scale impact from Hurricane Harvey, which will presumably help drive up producer prices in September along with Hurricane Irma. The question, though, is what kind of pass-through effect might there be on consumer prices?
The Treasury Budget for August showed a deficit of $107.7 billion versus a deficit of $107.1 billion for August 2016.
The Treasury Budget data is not seasonally adjusted, so the August deficit cannot be compared to the $42.9 billion deficit registered in July.
The weekly MBA Mortgage Applications Index increased 9.9% to follow last week's 3.3% rise.

On Thursday, investors will receive two pieces of economic data--the Consumer Price Index for August (Briefing.com consensus +0.3%) and the Weekly Initial Claims Report (Briefing.com consensus 310K). Both reports will be released at 8:30 ET.

Nasdaq Composite +19.9% YTD
Dow Jones Industrial Average +12.0% YTD
S&P 500 +11.5% YTD
Russell 2000 +5.3% YTD

Dow: +39.32… | Nasdaq: +5.91… | S&P: +1.89…

NASDAQ Adv/Dec 1454/1263. …NYSE Adv/Dec 1514/1367.

03:25PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.2% at 84.9646
The dollar index is up 0.68% at 92.50.
Oct WTI crude is higher on the day following EIA inventory data.
Crude oil inventories had a build of 5.9 mln barrels
Futures settled $1.08 higher to $49.30/barrel.
In other energy,
EIA natural gas inventory data will be released tomorrow at 10:30am ET
Last week's data showed a build of 65 bcf
Oct natural gas settled up $0.06 at $3.06/MMBtu
On to metals:
Dec gold lost $4.90 to settle at $1327.80/oz, while Sept silver dropped $0.03 to $17.86/oz
Sept copper lost $0.06 to $2.98/lb
Finally, agriculture:
Dec corn settled $0.01 higher at $3.53/bu.
Nov soy is down $0.11 at $9.62/bu.
Dec wheat settled $0.02 higher at $4.44/bu.

Dow: +61.49… | Nasdaq: -2.03… | S&P: -0.35…

NASDAQ Adv/Dec 1581/1229. …NYSE Adv/Dec 1581/1228.

03:00PM ET

[BRIEFING.COM] Stocks have ticked up in recent action, pushing the S&P 500 (unch) and the Nasdaq (unch) into the green. The Dow continues to outperform, sporting a gain of 0.1%.

Looking ahead, investors will receive the Consumer Price Index for August and the weekly Initial Claims Report simultaneously tomorrow morning at 8:30 ET. The Briefing.com consensus anticipates that the CPI reading will show a month-over-month increase of 0.3% and that initial claims will rise by 12,000 to 310,000--which would mark the first time in 131 weeks that the number has failed to stay below 300,000. The expected spike in initial claims is related to special factors--namely, the powerful hurricanes that have hit the U.S. mainland in recent weeks.

On the earnings front, Oracle (ORCL 52.66, -0.10) is the only notable company reporting tomorrow. The tech giant will deliver its quarterly results following Thursday's closing bell.

Dow: +19.87… | Nasdaq: +0.48… | S&P: +0.22…

NASDAQ Adv/Dec 1583/1203. …NYSE Adv/Dec 1561/1317.

02:30PM ET

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

Transports have struggled today, evidenced by the Dow Jones Transportation Average, which is trading lower by 0.3%. More than half of the DJTA's 20 components are trading in the red this afternoon, but none show a wider decline than JetBlue Airways (JBLU 19.25, -0.53), which is down 2.7% on the heels of a three-session rally.

In the bond market, U.S. Treasuries look poised to register a third-consecutive day of losses, although the selling has been less today than in the two prior sessions. The benchmark 10-yr yield is up one basis point at 2.18%, which is about 12 basis points above where it settled last Friday.

Dow: +13.88… | Nasdaq: +0.50… | S&P: -0.69…

NASDAQ Adv/Dec 1563/1253. …NYSE Adv/Dec 1518/1345.

01:55PM ET

[BRIEFING.COM] The equity market continues drifting along this afternoon, hovering right at yesterday's closing level.

Four sectors are currently trading in the green--energy (+1.0%), consumer discretionary (+0.5%), telecom services (+0.5%), and consumer staples (+0.2%)--while seven are trading in the red--financials (-0.1%), industrials (-0.1%), materials (-0.3%), technology (-0.3%), health care (-0.3%), utilities (-0.3%), and real estate (-0.4%).

Despite today's mixed performance, nearly all of the 11 sectors are trading higher for the week with the rate-sensitive utilities (-1.1% WTD) and real estate (-0.9% WTD) groups being the only exceptions. The heavily-weighted financial sector is currently in first place on the weekly leaderboard with a week-to-date gain of 2.9%.

Dow: +23.84… | Nasdaq: -3.38… | S&P: -0.60…

NYSE Adv/Dec 1525/.

01:30PM ET

[BRIEFING.COM] The major U.S. indices are currently trading mixed as stocks cool off following Monday & Tuesday's rally.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 113.60, +1.11), Walt Disney (DIS 98.67, +0.78), & Wal-Mart (WMT 80.13, +0.52) are outperforming. Chevron is leading the Dow as the energy sector rallies amid a near 2% jump in crude oil futures after weekly EIA figures showed a greater than expected draw in gasoline inventories.

Conversely, Cisco (CSCO 32.02, -0.39) is the worst-performing Dow component as tech lags in today's session.

At current levels, the DJIA is up 1.55% this week

Elsewhere, at the top of the hour, the Treasury's $12 bln 30-year auction (reopening) drew a high yield of 2.79% on a bid-to-cover of 2.21.

Dow: +15.73… | Nasdaq: -3.49… | S&P: -0.37…

NASDAQ Adv/Dec 1544/1259. …NYSE Adv/Dec 1491/1327.

01:05PM ET

[BRIEFING.COM] Investors have put the stock market's latest record-high run on hold today, refusing to lift the major U.S. indices off their unchanged marks. The session has been range-bound from the start, evidenced by the S&P 500, which has kept within 0.2% of yesterday's closing level. The Nasdaq and the Dow also trade flat while the small-cap Russell 2000 outperforms, sporting a gain of 0.4%.

Despite the muted reaction at the macro level, corporate news has been fairly steady today with the following headlines being the most notable:

Nordstrom (JWN 47.85, +2.80, +6.4%) is reportedly nearing a deal with private equity firm Leonard Green that would help the high-end retailer go private.
Target (TGT 59.48, +1.58, +2.7%) announced that it will hire approximately 100,000 team members across the country for the upcoming holiday season.
Centene (CNC 97.34, +6.46. +7.1%) will acquire nonprofit insurer Fidelis Care for $3.75 billion.
Western Digital (WDC 84.81, -3.97, -4.5%) has lost a bid to acquire Toshiba's (TOSBF 3.01, +0.01, +0.4%) chip unit.

In addition, investors have kept an eye on Apple (AAPL 159.05, -1.80) following yesterday's product event, which featured a trio of iPhones, including the high-end iPhone X. The company, which is the largest component in the S&P 500 by market cap, has struggled since the event, dropping 0.4% yesterday and another 1.2% today, with some analyst noting the iPhone X's later-than-expected release date (November 3) as the catalyst. However, profit taking is also a likely factor as Apple has made a huge run this year (+36.9%).

Typically, a big drop in a component as influential as Apple would drag down the broader market, however, a mild sector rotation trade has helped keep losses in check today. For instance, the energy sector, which has been bearish all year (-13.0% YTD), is hovering at the top of today's sector standings with a solid gain of 0.7%. The energy group has benefited from a rally within the crude oil futures market.

WTI crude futures are currently up 1.5% at $48.96/bbl, benefiting from the International Energy Agency's prediction that global oil demand is set to accelerate at its fastest pace in two years. On a related note, the weekly EIA inventory report showed a larger-than-expected build of 5.9 million barrels (consensus 3.2 million) for the week ended September 8. The report also showed a much greater-than-expected decline in gasoline inventories (8.4 million actual vs 2.1 million consensus), which is a positive sign for future crude demand.

In the bond market, U.S. Treasuries have moved lower once again today, extending this week's slide. The benchmark 10-yr yield is currently up one basis point at 2.18%.

Reviewing Wednesday's economic data, which has been limited to the Producer Price Index for August and the weekly MBA Mortgage Applications Index thus far:

Producer prices rose 0.2% in August, while the Briefing.com consensus expected an increase of 0.3%. Meanwhile, core producer prices rose 0.1%, which is below the 0.2% increase that the Briefing.com consensus expected. Year-over-year, core producer prices are up 2.0%.
The key takeaway from the report is that producer prices picked up in August without any full-scale impact from Hurricane Harvey, which will presumably help drive up producer prices in September along with Hurricane Irma. The question, though, is what kind of pass-through effect might there be on consumer prices?
The weekly MBA Mortgage Applications Index increased 9.9% to follow last week's 3.3% rise.

Today's last economic report--the Treasury Budget for August--will be released at 14:00 ET.

Dow: +15.22… | Nasdaq: -4.01… | S&P: -0.38…

NASDAQ Adv/Dec 1589/1207. …NYSE Adv/Dec 1523/1277.

12:30PM ET

[BRIEFING.COM] The major averages continue drifting near their unchanged marks with the Nasdaq showing relative weakness (-0.1%).

Six of the eleven sectors are currently trading in negative territory, but none have more influence than the heavily-weighted technology and health care groups, which hold losses of 0.4% apiece. Within the tech space, Apple (AAPL 159.00, -1.85) shows notable weakness (-1.1%), one day removed from its annual product unveiling--which featured a trio of iPhones, including the high-end iPhone X. Some analysts believe the move lower is a result of the iPhone X's later-than-expected release date (November 3), but profit-taking is also a likely factor as the company is up 36.9% on the year.

On the health care front, Centene (CNC 96.97, +6.09) has jumped 6.7%, notching a new all-time high, after announcing that it will acquire nonprofit insurer Fidelis Care for $3.75 billion. The deal will give Centene more than 1.6 million members in the state of New York.

Dow: +8.16… | Nasdaq: -4.31… | S&P: -0.71…

NASDAQ Adv/Dec 1613/1193. …NYSE Adv/Dec 1504/1296.

11:55AM ET

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

Retailers have been a focal point today following a scattering of headlines, including a Tuesday evening CNBC report that Nordstrom (JWN 47.70, +2.65) is nearing a deal with private equity firm Leonard Green that would help the high-end retailer go private. The deal appears to be far from done, however, with the NY Post placing the odds at around 50%. JWN shares are currently up 5.9%, hovering at a one-month high.

Meanwhile, Target (TGT 59.42, +1.53) has climbed 2.6% in today's session after announcing that it will hire approximately 100,000 team members across the country for the upcoming holiday season. Today's advance places TGT shares at their best level since late February.

The SPDR S&P Retail ETF (XRT 41.39, +0.44) is up 1.1%, closing in on its August high (41.73).

Dow: +4.99… | Nasdaq: -8.05… | S&P: -0.97…

NASDAQ Adv/Dec 1519/1273. …NYSE Adv/Dec 1419/1357.

11:30AM ET

[BRIEFING.COM] Stocks continue trending sideways in late-morning action, leaving the major U.S. indices near their unchanged marks. Small-caps are modestly outperforming, evidenced by the Russell 2000, which currently sports a gain of 0.3%.

The heavily-weighted financial sector (+0.2%) has strengthened since the opening bell, exchanging a modest loss for a modest gain, and is now on track to settle in positive territory for the fourth session in a row. Financials have underperformed since leading the stock market's initial post-election rally as the White House has struggled to make progress on its pro-growth agenda--including a promised tax overhaul, which the market has been eagerly awaiting.

On a related note, recent reports indicate that an outline of the GOP tax plan will be released during the week of September 25. Republicans are hoping to get a deal finalized, and passed, by the year's end.

Dow: -5.44… | Nasdaq: -4.59… | S&P: -0.85…

NASDAQ Adv/Dec 1556/1219. …NYSE Adv/Dec 1438/1321.

11:00AM ET

[BRIEFING.COM] The major U.S. indices are hovering near their flat lines this morning, relatively unchanged from where they opened today's session. Sector movement has been pretty modest with five groups currently trading in the green and six trading in the red.

Around 30 minutes ago, the Energy Information Administration (EIA) released its weekly crude inventory report, which showed a larger-than-expected build of 5.9 million barrels (consensus 3.2 million) for the week ended September 8. However, on a positive note, the report did show a much greater-than-expected decline in gasoline inventories (8.4 million actual vs 2.1 million consensus), which is a positive sign for future crude demand.

WTI crude futures currently trade higher by 0.9% at a price of $48.63/bbl, which is roughly where they were trading ahead of the release. Likewise, the energy sector has had a muted reaction to the EIA release thus far, maintaining its spot at the top of today's sector standings. The group currently sports a gain of 0.6%.

Dow: +1.01… | Nasdaq: -4.91… | S&P: -0.86…

NASDAQ Adv/Dec 1555/1175. …NYSE Adv/Dec 1452/1278.

10:50AM ET

[BRIEFING.COM] Commodities begin the day flat:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently flat at 84.7996
Dollar index is currently up 0.41% at 92.26.
Oct WTI crude is higher on the day.
EIA inventory data showed a build of 5.9 mln barrels in crude oil
Futures are $0.38 higher to $48.61/barrel.
In other energy, Oct natural gas is up $0.051 at $3.052/MMBtu
Metals performed well with precious metals and copper settling higher
Dec gold lost $5.30 and trades at $1327.40/oz, while Sept silver dropped $0.11 to $17.78/oz
Sept copper gained $0.056 to $2.98/lb
Finally, agriculture:
Dec corn is $0.04 higher at $3.555/bu.
Nov soy is up $0.0775 at $9.5825/bu.
Dec wheat is up $0.055 at $4.475/bu.

Dow: +61.49… | Nasdaq: -6.31… | S&P: -1.66…

NASDAQ Adv/Dec 1526/1187. …NYSE Adv/Dec 1418/1309.

10:00AM ET

[BRIEFING.COM] The major averages continue to trend near their opening levels, with the Nasdaq showing relative weakness (-0.1%).

Retailers are outperforming the broader market this morning, evidenced by the SPDR S&P Retail ETF (XRT 41.37, +0.42), which is currently up 1.1%. Target (TGT 59.53, +1.64) is one of the strongest retail components within the consumer discretionary sector (+0.2%) after announcing that it will hire approximately 100,000 team members across the country for the upcoming holiday season. TGT shares are up 2.8%, hovering at their best level since late February.

In the bond market, Treasuries have ticked below their flat lines in recent action, sending yields higher for the third day in a row. The benchmark 10-yr yield is up one basis point at 2.18%, extending its week-to-date advance to 12 basis points.

Dow: -13.42… | Nasdaq: -8.97… | S&P: -1.34…

NASDAQ Adv/Dec 1183/1425. …NYSE Adv/Dec 1281/1343.

09:45AM ET

[BRIEFING.COM] Equity indices opened the midweek session on a slightly lower note. The S&P 500 currently holds a loss of 0.1%.

The 11 sectors are mixed this morning, with the energy (+0.6%) and consumer discretionary (+0.2%) groups showing relative strength while the financials (-0.4%) and technology (-0.3%) spaces show relative weakness. Outside of the energy group, no sector shows a gain or a loss of more than 0.4%.

Apple (AAPL 159.36, -1.50) has extended yesterday's decline this morning, dropping another 0.9%, as investors continue to digest Tuesday's product event.

Dow: -3.50… | Nasdaq: -13.95… | S&P: -2.38…

NASDAQ Adv/Dec 1088/1486. …NYSE Adv/Dec 1221/1367.

09:18AM ET

[BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -14.40.

Investors have hit pause this morning, taking a moment to reflect on this week's rally, which has pushed the major U.S. indices to new record highs. The benchmark index is on track to open the midweek session a tick lower, denting its week-to-date gain of 1.4%, as the S&P 500 futures are currently trading four points, or 0.2%, below fair value.

In corporate news, Nordstrom (JWN 47.49, +2.44) has jumped 5.4% in pre-market trade following Tuesday evening headlines that the company is nearing a deal to go private. Meanwhile, Finish Line (FINL 10.40, +0.66) is up 6.8%, trying to bolster its recent effort to retrace last month's swoon, after the company's shares were upgraded to 'Positive' from 'Neutral' at Susquehanna.

On the data front, the August PPI Report crossed the wires earlier this morning, showing that producer prices rose 0.2% last month (Briefing.com consensus +0.3%). The report also showed that core producer prices rose 0.1%, which is below the 0.2% increase that the Briefing.com consensus expected. Year-over-year, core producer prices are up 2.0%.

The key takeaway from the report is that producer prices picked up in August without any full-scale impact from Hurricane Harvey, which will presumably help drive up producer prices in September along with Hurricane Irma. The question, though, is whether or not the uptick in producer prices will be passed on to consumers.

The Consumer Price Index for August will be released on Thursday and will be a focal point for the market with respect to its thinking on the timing of the next rate hike.

Today's last economic report--the Treasury Budget for August--will be released this afternoon at 14:00 ET.

Outside of the equity market, U.S. Treasuries are trading flat this morning following a two-day decline, with the benchmark 10-yr yield hovering at its unchanged mark (2.17%). Meanwhile, crude futures are up 0.9% at $48.67/bbl after the International Energy Agency (IEA) predicted that global oil demand was set to accelerate at its fastest pace in two years.

The Department of Energy will release its weekly crude inventory report at 10:30 ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -14.40.

The S&P 500 futures currently trade two points, or 0.2%, below fair value.

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note, pausing after a strong start to the week. North Korea said it will redouble efforts to increase its strength and establish a "practical equilibrium" with the United States. The comments were made in response to the new set of UN sanctions against Pyongyang. Reserve Bank of Australia member Ian Harper said Aussie strength is a byproduct of U.S. dollar weakness and that economic growth in Australia is not strong enough to support a rate hike.

In economic data:
Japan's August PPI 0.0% month-over-month (expected 0.1%; last 0.3%); +2.9% year-over-year (consensus 3.0%; last 2.6%). Q3 BSI Large Manufacturing Conditions 9.4 (expected -2.8; last -2.9)
South Korea's August Unemployment Rate 3.8% (expected 3.7%; last 3.6%). August Import Price Index +9.0% year-over-year (last 5.5%) and Export Price Index +10.7% year-over-year (last 8.1%)
Australia's September Westpac Consumer Sentiment 2.5% (last -1.2%)
New Zealand's August FPI +0.6% month-over-month (last -0.2%)

---Equity Markets---

Japan's Nikkei rose 0.5%, returning to levels from early August. Nisshinbo Holdings surged 25.5% after commercializing the first platinum-free catalyst for fuel cells. Furukawa Electric, Panasonic, Yamaha, Shin-Etsu Chemical, Daikin Industries, Yokohama Rubber, Konami, and Dainippon Screen Manufacturing advanced between 1.5% and 4.7%.
Hong Kong's Hang Seng shed 0.3% amid weakness in banks and property names. Hang Lung Properties, Sino Land, China Overseas, China Life Insurance, ICBC, China Construction Bank, Bank of China, and Bank of East Asia lost between 0.9% and 2.3%. Gaming names outperformed with Galaxy Entertainment and Sands China rising 2.3% and 2.2%, respectively.
China's Shanghai Composite added 0.1%. Giti Tire, Tongwei, Shanghai Jiabao Industry & Commerce, Keda Clean Energy, Tibet Urban Development Investment, and Guizhou Redstar Developing Co climbed between 5.0% and 10.0%.
India's Sensex added 0.1% despite losses in more than half of its components. Sun Pharma jumped 4.0% while Dr. Reddy's Labs rose 2.1%. Financials like AXIS Bank, HDFC Bank, and ICICI Bank added between 0.2% and 0.7%. ITC was the weakest performer, falling 2.2%.

Major European indices trade near their flat lines. The start of the fourth round of Brexit talks has been postponed by a week to September 25. European Commission President Jean-Claude Juncker delivered his state of the union address, saying the eurozone needs its own monetary fund and its own finance minister. The European Commission is expected to submit a proposal that would fashion the European Stability Mechanism (ESM) after the International Monetary Fund. German Finance Minister Wolfgang Schaeuble reiterated that he believes it is time to begin tightening ECB policy.

In economic data:
Eurozone July Industrial Production +0.1% month-over-month, as expected (last -0.6%); +3.2% year-over-year (consensus 3.4%; last 2.8%). Q2 Employment Change +0.4% quarter-over-quarter (expected 0.3%; last 0.5%); +1.6% year-over-year (consensus 1.4%; last 1.6%)
Germany's August CPI +0.1% month-over-month, as expected; +1.8% year-over-year, as expected. August WPI +0.3% month-over-month (expected 0.1%; last -0.1%); +3.2% year-over-year (last 2.2%)
UK's July Average Earnings Index + Bonus +2.1% year-over-year (expected 2.3%; last 2.1%). July Claimant Count Change -2,800 (expected 600; last -2,900) and July Unemployment Rate 4.3% (expected 4.4%; last 4.4%)
Spain's August CPI +0.2% month-over-month, as expected; +1.6% year-over-year, as expected
Swiss August PPI +0.3% month-over-month (expected 0.2%; last 0.0%); +0.6% year-over-year (consensus 0.4%; last -0.1%)

---Equity Markets---

UK's FTSE is lower by 0.3% with miners and select consumer names under pressure. Glencore, Fresnillo, Anglo American, Antofagasta, BHP Billiton, and Rio Tinto are down between 1.7% and 2.2%. Tesco, Kingfisher, ITV, Diageo, Burberry, Imperial Brands, Compass, InterContinental Hotels, and Merlin Entertainments show losses between 0.4% and 1.9%.
France's CAC sports a slim gain of 0.1%. Vivendi has jumped 1.9% while BNP Paribas, Societe Generale, and AXA are up between 0.5% and 0.8%. On the downside, Michelin has slid 1.7% and Essilor International is down 2.4%.
Germany's DAX hovers just a tick above its flat line. Heavyweights like Siemens, Merck, Volkswagen, BMW, and Adidas have risen between 0.5% and 1.8% while SAP, Thyssenkrupp, Infineon, Lufthansa, and Linde are down between 0.1% and 1.0%.
Italy's MIB is up 0.1%, looking to end the day at a fresh high for the year. Banco Bpm, UBI Banca, Intesa Sanpaolo, Mediobanca, UniCredit, and Generali are up between 0.3% and 1.7%.

08:32AM ET

[BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -12.90.

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

Just in, producer prices rose 0.2% in August, while the Briefing.com consensus expected an increase of 0.3%. Meanwhile, core producer prices rose 0.1%, which is below the 0.2% increase that the Briefing.com consensus expected. Year-over-year, core producer prices are up 2.0%.

07:58AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.40. Nasdaq futures vs fair value: -10.60.

The bulls are taking a breather this morning following two straight days of gains, the most recent of which ended in a record-high close for all three major U.S. indices. The S&P 500 comes into Wednesday's session with a week-to-date gain of 1.4%, but it appears a small portion of that advance will be squandered at the opening bell as the S&P 500 futures currently trade two points, or 0.1%, below fair value.

Apple (AAPL 159.93, -0.93), and its suppliers, will be in focus again today following Tuesday's product event, which featured a trio of iPhones, including the high-end iPhone X. The tech giant, which is the largest company in the S&P 500 by market cap, moved lower yesterday afternoon during the event, a move that has been attributed to concerns surrounding iPhone X's large price tag ($999) and later than expected shipping date (November 3).

In the crude oil futures market, WTI crude has climbed 0.9% to $48.67/bbl this morning after the International Energy Agency (IEA) predicted that global oil demand was set to accelerate at its fastest pace in two years. However, on a down note, the American Petroleum Institute (API) reported a build last night of 6.2 million barrels for the week ended September 8th. The official government report from the Department of Energy will be released later this morning at 10:30 ET.

U.S. Treasuries are hovering at their flat lines this morning following back-to-back losses, which sent Treasury yields to their best levels in over a week. The benchmark 10-yr yield is currently hovering at yesterday's closing level (2.17%), about eleven basis points higher than where it settled last Friday's session. Meanwhile, gold--another safe-haven asset--is up 0.4% at $1,337.55/ozt, also looking for its first win of the week.

Today's most notable piece of economic data--the August Producer Price Index (Briefing.com consensus +0.3%)--will cross the wires at 8:30 ET and will be followed by the release of the August Treasury Budget in the afternoon at 14:00 ET.

Also of note, the weekly MBA Mortgage Applications Index came in earlier this morning, showing an increase of 9.9% to follow last week's 3.3% rise.

In U.S. corporate news:

Nordstrom (JWN 49.50, +4.45): +9.9% following Tuesday evening headlines that the company is nearing a deal to go private.
Micron (MU 34.65, +0.36): +1.1% after the company's shares were upgraded to 'Buy' from 'Neutral' at Goldman.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note, pausing after a strong start to the week. Japan's Nikkei +0.5%, Hong Kong's Hang Seng -0.3%, China's Shanghai Composite +0.1%, India's Sensex +0.1%.
In economic data:
Japan's August PPI 0.0% month-over-month (expected 0.1%; last 0.3%); +2.9% year-over-year (consensus 3.0%; last 2.6%). Q3 BSI Large Manufacturing Conditions 9.4 (expected -2.8; last -2.9)
South Korea's August Unemployment Rate 3.8% (expected 3.7%; last 3.6%). August Import Price Index +9.0% year-over-year (last 5.5%) and Export Price Index +10.7% year-over-year (last 8.1%)
Australia's September Westpac Consumer Sentiment 2.5% (last -1.2%)
New Zealand's August FPI +0.6% month-over-month (last -0.2%)
In news:
North Korea said it will redouble efforts to increase its strength and establish a "practical equilibrium" with the United States. The comments were made in response to the new set of UN sanctions against Pyongyang.
Reserve Bank of Australia member Ian Harper said Aussie strength is a byproduct of U.S. dollar weakness and that economic growth in Australia is not strong enough to support a rate hike.

Major European indices trade near their flat lines. UK's FTSE -0.2%, France's CAC unch, Germany's DAX unch, Italy's MIB +0.2%.
In economic data:
Eurozone July Industrial Production +0.1% month-over-month, as expected (last -0.6%); +3.2% year-over-year (consensus 3.4%; last 2.8%). Q2 Employment Change +0.4% quarter-over-quarter (expected 0.3%; last 0.5%); +1.6% year-over-year (consensus 1.4%; last 1.6%)
Germany's August CPI +0.1% month-over-month, as expected; +1.8% year-over-year, as expected. August WPI +0.3% month-over-month (expected 0.1%; last -0.1%); +3.2% year-over-year (last 2.2%)
UK's July Average Earnings Index + Bonus +2.1% year-over-year (expected 2.3%; last 2.1%). July Claimant Count Change -2,800 (expected 600; last -2,900) and July Unemployment Rate 4.3% (expected 4.4%; last 4.4%)
Spain's August CPI +0.2% month-over-month, as expected; +1.6% year-over-year, as expected
Swiss August PPI +0.3% month-over-month (expected 0.2%; last 0.0%); +0.6% year-over-year (consensus 0.4%; last -0.1%)
In news:
The start of the fourth round of Brexit talks has been postponed by a week to September 25.
European Commission President Jean-Claude Juncker delivered his state of the union address, saying the eurozone needs its own monetary fund and its own finance minister. The European Commission is expected to submit a proposal that would fashion the European Stability Mechanism (ESM) after the International Monetary Fund.
German Finance Minister Wolfgang Schaeuble reiterated that he believes it is time to begin tightening ECB policy.

05:57AM ET

[BRIEFING.COM] S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: -12.80.
05:56AM ET

[BRIEFING.COM] Nikkei

...19866...+89.20

...+0.50%

Hang Seng

...27894...-78.20

...-0.30%

05:56AM ET

[BRIEFING.COM] FTSE

...7362.45...-38.20

...-0.50%

DAX

...12529.29...+4.50

...+0.00%

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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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