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 Post subject: September 14th Thursday Trade Results - Profit $750.00
PostPosted: Thu Sep 14, 2017 9:56 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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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 @ $750.00 dollars or +15.00 points, Light Crude Oil CL ($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 @ $750.00 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=2647

Image ##TheStrategyLab Chat Room is free. The free chat room is not a signal calling trading room. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of TheStrategyLab free chat room is for you to use as your trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. In addition, we highly recommend that you use the free chat room with a professional trade journal software like tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because they can provide you with the quantitative statistical analysis of your trading. You can then download your results and post them in your private thread at the forum. Also, you can use TheStrategyLab free chat room to ask real-time WRB Analysis questions. Yet, please do not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for security reasons. TheStrategyLab free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages, many different mobile apps and many different types of social media software can be used to log in. I'm the moderator of the free chat room via the user name wrbtrader. Thus, I keep the peace between members without hesitation in removing trouble makers so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell. TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below for you to review are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=327&t=3486 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives for easy review to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker PnL statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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


The Market at 04:25PM ET
Dow: +45.30… | Nasdaq: -31.10… | S&P: -2.75…
NASDAQ Vol: 1.8 bln… Adv: 1284… Dec: 1349…
NYSE Vol: 856.3 mln… Adv: 1597… Dec: 1324…

Moving the Market

Investors adjust rate-hike expectations after August CPI comes in hotter than expected (+0.4% MoM actual vs +0.3% MoM Briefing.com consensus)

British pound hits 52-week high following relatively hawkish Bank of England comments

Reports indicate that North Korea might be preparing another missile launch

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

[BRIEFING.COM] Investors reined in the stock market on Thursday following three straight days of gains, which culminated in new record highs for all three major U.S. indices in the prior session. The S&P 500 and the Nasdaq dropped 0.1% and 0.5%, respectively, but the price-weighted Dow (+0.2%) leaned on some of its most influential components to finish at a new all-time high for the third session in a row.

While the market's current record-high level is in itself a reason for investors to take some money off the table, Thursday's downtick could also be attributed to increased rate-hike expectations following a hotter-than-expected CPI reading (+0.4% actual vs +0.3% Briefing.com consensus) and continued concerns surrounding North Korea's insistent prodding.

On a year-over-year basis, Thursday's CPI reading for the month of August showed an increase of 1.9%, which is just a tick below the Fed's target of 2.0%. Accordingly, the fed funds futures market adjusted the implied probability of a December rate hike to 52.9% from 41.3% on Wednesday, showing that the Fed's forecast of three rate hikes in 2017 is still believed to be feasible.

Meanwhile, North Korea appears ready to tighten geopolitical tensions once again after issuing some provocative remarks towards the U.S. and Japan. In addition, reports indicate that Pyongyang might be preparing yet another missile launch, its first since the August 29th launch over northern Japan.

However, U.S. Treasuries had a muted response to the aforementioned headlines, showing that investors were not all that concerned--at least for the time being. The yield on the benchmark 10-yr Treasury note ended Thursday unchanged at 2.20%, breaking its three-session winning streak. The 2-yr yield also finished flat, closing at 1.36%.

As for the equity market, six of the eleven sectors settled the day in positive territory. The lightly-weighted utilities space (+0.9%) showed particular strength, bouncing back from two straight days of losses, but the remaining advancers finished with gains of no more than 0.6%.

On the flip side, the consumer discretionary sector (-0.5%) settle at the bottom of the leaderboard amid broad weakness. The top-weighted technology group (-0.4%) also struggled, even though chipmakers put together a relatively positive performance, evidenced by the PHLX Semiconductor Index, which climbed 0.5%.

The influential financial sector also underperformed on Thursday, breaking its four-session winning streak. However, the group still holds a solid week-to-date gain of 2.8%, which places it in second place--right behind energy (+3.2% WTD)--on the weekly leaderboard.

In Europe, the Bank of England left its key policy rate at 0.25% and its asset purchase program at 435 billion, as expected, but noted that it could potentially raise rates more aggressively than the market expects if the economy keeps evolving as expected. The British pound spiked 1.4% against the U.S. dollar to 1.3399, hitting a 52-week high, following the BoE's comments.

Reviewing Thursday's economic data, which included the Consumer Price Index for August and the Weekly Initial Claims Report:

Total CPI increased 0.4% (Briefing.com consensus 0.3%) in August while core CPI, which excludes food and energy, rose 0.2% (Briefing.com consensus 0.2%). On a year-over-year basis, total CPI and core CPI are up 1.9% and 1.7%, respectively.
The key takeaway from the report is that the year-over-year bump in headline inflation toward the Fed's 2.0% target will prompt the market to consider more carefully the prospect of another rate hike before the end of the year.
The latest weekly initial jobless claims count totaled 284,000 while the Briefing.com consensus expected a reading of 310,000. Today's tally was below the unrevised prior week count of 298,000. As for continuing claims, they declined to 1.944 million from the revised count of 1.951 million (from 1.940 million).
The key takeaway from the report is that the underlying trend in initial claims remains solid and on point with a tight labor market, evidenced by the unadjusted claims figure, which fell by 36,500 to 214,121.

On Friday, investors will receive a slew of economic reports, including August Retail Sales (Briefing.com consensus 0.1%) at 8:30 ET, the September Empire State Manufacturing Index (Briefing.com consensus 20) also at 8:30 ET, Industrial Production (Briefing.com consensus 0.2%) and Capacity Utilization (Briefing.com consensus 76.8%) at 9:15 ET, the preliminary reading of the University of Michigan Consumer Sentiment Index for September (Briefing.com consensus 95.5) at 10:00 ET, and July Business Inventories (Briefing.com consensus 0.2%) also at 10:00 ET.

Dow: +45.30… | Nasdaq: -31.10… | S&P: -2.75…

NASDAQ Adv/Dec 1284/1349. …NYSE Adv/Dec 1597/1324.

03:30PM ET

[BRIEFING.COM] Commodities end the day slightly higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.16% at 85.0966
The dollar index is down 0.39% at 92.16.
Oct WTI crude is up on the day.
Crude hit a high of ~$50.50 before coming back down below $50 to end the session.
Futures settled $0.0.57 higher to $49.87/bbl.
In other energy:
The EIA released natural gas inventory data this morning which showed a build of 91 bcf vs a build of 65 bcf in the prior week.
Following the release futures spiked and have since lost most of these gains.
Oct natural gas settled up $0.01 at $3.07/MMBtu
On to metals:
Dec gold gained $1.50 to settle at $1329.30/oz, while Sept silver dropped $0.08 to $17.78/oz
Sept copper lost $0.02 to $2.96/lb
Finally, agriculture:
Dec corn settled $0.01 higher at $3.5425/bu.
Nov soy is settled $0.14 higher at $9.76/bu.
Dec wheat is down $0.01 at $4.43/bu.

Dow: +47.27… | Nasdaq: -27.88… | S&P: -2.53…

NASDAQ Adv/Dec 1298/1469. …NYSE Adv/Dec 1528/1380.

03:00PM ET

[BRIEFING.COM] The Dow (+0.2%) is on track to settle Thursday's session at a new all-time high while the S&P 500 (-0.1%) and the Nasdaq (-0.4%) have some work to do if they're going to rewrite their record closes.

Moving into the final stretch, six sectors are trading in the green--utilities (+0.9%), materials (+0.5%), real estate (+0.5%), industrials (+0.4%), energy (+0.3%), and health care (+0.1%)--and five are trading in the red--technology (-0.2%), consumer staples (-0.4%), financials (-0.4%), consumer discretionary (-0.5%), and telecom services (-0.5%). For the week, the ends of the leaderboard are represented by energy at the top (+3.1% WTD) and utilities at the bottom (-0.5% WTD).

On the earnings front, the most notable report of the week, namely Oracle's (ORCL 52.81, +0.01) quarterly earnings, will be released following today's closing bell.

Dow: +42.93… | Nasdaq: -22.65… | S&P: -2.08…

NASDAQ Adv/Dec 1317/1453. …NYSE Adv/Dec 1553/1338.

02:30PM ET

[BRIEFING.COM] The Dow Jones Industrial Average (+0.2%) continues trading a step ahead of the S&P 500 (-0.1%) this afternoon, looking to settle at a record high for the third day in a row.

Only around half of the Dow's 30 components are currently trading in the green, but a handful of the advancers, including Boeing (BA 245.14, +3.21), Goldman Sachs (GS 226.82, +0.26), 3M (MMM 210.91, +1.42), Caterpillar (CAT 120.39, +0.76), and Chevron (CVX 114.78, +0.60), have substantial influence over the price-weighted average given their relatively high stock prices.

At a price of $245.14 per share, Boeing is the priciest, and therefore the most influential, component in the Dow and is a major contributing factor in the industrial average's positive performance today. BA shares have added 1.3% in today's session after Boeing's target price was raised to $300 from $280 at Deutsche Bank early this morning.

Dow: +47.43… | Nasdaq: -22.24… | S&P: -1.49…

NASDAQ Adv/Dec 1311/1458. …NYSE Adv/Dec 1555/1320.

02:00PM ET

[BRIEFING.COM] Stocks have continued trending sideways this afternoon, keeping the S&P 500 (-0.1%) within a one-point range over the last hour of action.

Biotechnology stocks are struggling to keep pace with the broader market once again today, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 332.69, -1.34), which has dropped 0.4%. Since last Thursday's close, the IBB has decreased by 3.7% whereas the S&P 500 has advanced 1.2%.

Still, the influential health care sector (+0.1%), which houses biotech names, has managed to keep a step ahead of the broader market today, ticking up 0.1%.

Dow: +42.78… | Nasdaq: -25.03… | S&P: -2.90…

NASDAQ Adv/Dec 1310/1467. …NYSE Adv/Dec 1531/1348.

01:35PM ET

[BRIEFING.COM] The major U.S. indices continue to trade mixed in tight, sideways action.

A look inside the Dow Jones Industrial Average shows that United Technologies (UTX 112.80, +2.52), Pfizer (PFE 35.76, +0.70), & Johnson & Johnson (JNJ 134.41, +1.96) are outperforming. United Technologies is leading the Dow amid the company's presentation at the Morgan Stanley Annual Laguna Conference while Pfizer is advancing after announcing positive top-line results from its Phase 3 PROSPER trial of XTANDI in patients with non-metastatic castration-resistant prostate cancer.

Conversely, Travelers (TRV 119.78, -1.73) is the worst-performing Dow component as insurers pullback following recent gains.

At current levels, the DJIA is up 1.88% week-to-date.

Dow: +47.18… | Nasdaq: -23.65… | S&P: -2.58…

NASDAQ Adv/Dec 1275/1492. …NYSE Adv/Dec 1513/1342.

01:05PM ET

[BRIEFING.COM] Equities have largely held steady today, keeping the major indices near their record-high marks. The Dow is up 0.1% while the S&P 500 and the Nasdaq hold losses of 0.1% and 0.4%, respectively.

Investors have dialed up their rate-hike expectations today following a hotter-than-expected August CPI reading, which showed that consumer prices increased 0.4% month-over-month (Briefing.com consensus +0.3%). Meanwhile, the core CPI reading, which excludes the volatile categories of food and energy, came in as expected, showing a month-over-month increase of 0.2%. On a year-over-year basis, total CPI and core CPI are up 1.9% and 1.7%, respectively, hovering just below the Fed's target of 2.0%.

Following today's economic data, which also included a better-than-expected weekly Initial Claims Report (284,000 actual vs 310,000 Briefing.com consensus), the fed funds futures market places the chances of a December rate hike at around 52.9%, up from yesterday's 41.3%.

U.S. Treasuries are trading largely unchanged this afternoon following the batch of data, with shorter-dated issues showing relative weakness--pushing the 2-yr yield one basis point higher to 1.37%. Meanwhile, the benchmark 10-yr yield currently hovers at its unchanged mark (2.20%).

Sector movement has been pretty modest overall today as no group currently shows a gain, or a loss, of more than 0.6%. Six of the eleven spaces currently trade in the green with the lightly-weighted utilities group being the top performer (+0.6%). On the flip side, the consumer staples and consumer discretionary spaces are the weakest sectors, holding losses of around 0.4% apiece.

News has been relatively light today, especially on the corporate front, but it's worth noting that North Korea is back to spewing fantastical remarks about sinking Japan and reducing the U.S. to ashes. In addition, reports suggest that Pyongyang might be preparing for another missile launch.

In Europe, the Bank of England left its key policy rate at 0.25% and its asset purchase program at 435 billion, as expected, but noted that it could potentially raise rates more aggressively than the market expects if the economy keeps evolving as expected. The British pound has spiked 1.4% against the U.S. dollar to 1.3388, hitting a 52-week high, following the central bank's comments.

Reviewing Thursday's economic data, which included the Consumer Price Index for August and the Weekly Initial Claims Report:

Total CPI increased 0.4% (Briefing.com consensus 0.3%) in August while core CPI, which excludes food and energy, rose 0.2% (Briefing.com consensus 0.2%). On a year-over-year basis, total CPI and core CPI are up 1.9% and 1.7%, respectively.
The key takeaway from the report is that the year-over-year bump in headline inflation toward the Fed's 2.0% target will prompt the market to consider more carefully the prospect of another rate hike before the end of the year.
The latest weekly initial jobless claims count totaled 284,000 while the Briefing.com consensus expected a reading of 310,000. Today's tally was below the unrevised prior week count of 298,000. As for continuing claims, they declined to 1.944 million from the revised count of 1.951 million (from 1.940 million).
The key takeaway from the report is that the underlying trend in initial claims remains solid and on point with a tight labor market, evidenced by the unadjusted claims figure, which fell by 36,500 to 214,121.

Dow: +49.82… | Nasdaq: -19.01… | S&P: -1.74…

NASDAQ Adv/Dec 1324/1426. …NYSE Adv/Dec 1505/1335.

12:25PM ET

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

Chipmakers have put together a relatively solid showing today, evidenced by the PHLX Semiconductor Index, which currently sports a gain of 0.7%. However, the top-weighted technology sector (-0.2%) still trades a step behind the broader market as some of its most influential components--including Apple (AAPL 158.79, -0.88) and Facebook (FB 171.27, -1.78)--underperform, showing respective losses of 0.6% and 1.1%. Apple has been weak since Tuesday's product event, in which the company introduced the much-anticipated iPhone X.

Elsewhere, the consumer discretionary space (-0.5%) also trades behind the broader market with retailers exhibiting relative weakness, giving back some of this week's gain. The SPDR S&P Retail ETF (XRT 41.09, -0.29) is down 0.7%, trimming its week-to-date gain to 2.5%. Tiffany & Company (TIF 90.56, -4.95) is one of the weakest retail components in the S&P 500, dropping 5.2%.

Dow: +21.96… | Nasdaq: -24.90… | S&P: -3.30…

NASDAQ Adv/Dec 1338/1386. …NYSE Adv/Dec 1573/1237.

12:00PM ET

[BRIEFING.COM] Equities have continued trending sideways this morning, leaving the S&P 500 (-0.1%) near its recent level.

The energy sector has given up its spot at the top of today's leaderboard in recent action, trimming its gain to 0.3% from 1.1% at its best mark of the day. However, the price of crude oil, which often moves in tandem with the energy sector, has managed to keep near its session high. The commodity currently sports a gain of 1.8% and is trading at a price of $50.20/bbl--which marks the first time in over a month that it has broken $50.00/bbl.

In the bond market, U.S. Treasuries have ticked up into positive territory, sending yields lower for the first time this week; the benchmark 10-yr yield is down one basis point at 2.19%.

Dow: +18.42… | Nasdaq: -14.25… | S&P: -1.98…

NASDAQ Adv/Dec 1351/1388. …NYSE Adv/Dec 1514/1288.

11:25AM ET

[BRIEFING.COM] Equity indices continue to drift near yesterday's record-high closing levels with the S&P 500 showing a slim loss of 0.1%.

The consumer staples space has struggled to keep pace with the broader market this week, and it's been more of the same so far today. The group is currently hovering at the bottom of today's sector standings, showing a loss of 0.5%, with influential components like Coca-Cola (KO 46.00, -0.50), Walgreens Boot Alliance (WBA 81.82, -0.91), and Kroger (KR 21.42, -0.30) losing more than 1.0%.

In total, four of the eleven sectors are currently trading in the red--consumer staples (-0.5%), consumer discretionary (-0.3%), financials (-0.2%), and real estate (unch), but losses have been relatively modest. If the financial group fails to reach positive territory by the closing bell, it would mark the heavily-weighted sector's first loss of the week.

Dow: +14.66… | Nasdaq: -7.91… | S&P: -1.46…

NASDAQ Adv/Dec 1434/1299. …NYSE Adv/Dec 1523/1275.

11:00AM ET

[BRIEFING.COM] The major averages are mostly lower this morning, but the Dow is exhibiting relative strength, trading a tick above its unchanged mark.

Within the Dow, pharmaceutical giants Pfizer (PFE 35.58, +0.51) and Merck (MRK 65.62, +0.64) are among the top performers, sporting gains of 1.5% and 1.1%, respectively. Boeing (BA 245.19, +3.26) also shows relative strength (+1.3%) after Deutsche Bank raised the company's target price to $300 from $280 earlier this morning.

On the flip side, the weakest Dow component is Travelers (TRV 118.75, -2.76), which has dropped 2.2% in today's session, tumbling into negative territory for the week. TRV shares have been up and down in recent weeks--but mostly down--following Hurricane Harvey and Hurricane Irma, which struck the Texas and Florida coasts, respectively.

Dow: +10.53… | Nasdaq: -14.37… | S&P: -2.15…

NASDAQ Adv/Dec 1387/1327. …NYSE Adv/Dec 1491/1271.

10:35AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.4% at 85.3353
Dollar index is down 0.29% at 92.25.
Oct WTI crude continues to see strength on the day.
Futures are $1.08 higher to $50.38/barrel.
In other energy,
Weekly EIA natural gas inventory data was released at 10:30am ET
Natural gas inventory showed a build of 91 bcf vs a build of 65 bcf in the prior week.
Oct natural gas is moving higher, up $0.02 at $3.078/MMBtu
On to metals:
Dec gold has gained $1.60 and trades at $1329.60/oz, while Sept silver has dropped $0.057 to $17.81/oz
Sept copper is down $0.0185 to $2.9625/lb
Finally, agriculture:
Dec corn is up $0.0425 at $3.5575/bu.
Nov soy is up $0.14 at $9.745/bu.
Dec wheat is up $0.065 at $4.4975/bu.

Dow: +4.74… | Nasdaq: -21.03… | S&P: -2.98…

NASDAQ Adv/Dec 1294/1383. …NYSE Adv/Dec 1484/1266.

10:05AM ET

[BRIEFING.COM] The major U.S. indices have ticked up from their opening levels in recent action, with the S&P 500 trimming its loss to 0.2%.

Energy stocks are still going strong this morning, benefiting from another rally in the crude oil futures market. WTI crude futures have jumped 1.5% today to cross the $50.00/bbl mark for the first time in over a month. A win today would mark the fourth in a row for the commodity.

In the currency market, the U.S. dollar has dropped 1.1% against the British pound to 1.3354 following comments from the Bank of England, which said it could potentially raise rates more aggressively than the market expects if the economy keeps evolving as expected. The pound's strength has put the U.S. Dollar Index (92.28, -0.11) on track to post its first loss of the week.

Dow: +13.12… | Nasdaq: -23.82… | S&P: -4.06…

NASDAQ Adv/Dec 1170/1450. …NYSE Adv/Dec 1324/1343.

09:50AM ET

[BRIEFING.COM] The S&P 500 is trading modestly lower in early action, holding a loss of 0.3%. Meanwhile, the Dow (unch) shows relative strength while the Nasdaq (-0.5%) shows relative weakness.

Most of the eleven sectors are trading below their flat lines this morning, with losses ranging between 0.1% and 0.6%. The top-weighted technology sector (-0.6%) is currently the weakest group, trimming its week-to-date advance to 0.9%. On the flip side, the energy sector (+0.6%) is the top-performing sector, extending its week-to-date gain to 3.4%. For comparison, the S&P 500 is currently trading higher by 1.3% for the week.

In the bond market, U.S. Treasuries are still trading in the red, sending yields higher for the fourth session in a row. The 10-yr yield is up one basis point at 2.20% while the 2-yr yield is up two basis points at 1.37%.

Dow: +1.76… | Nasdaq: -26.24… | S&P: -4.84…

NASDAQ Adv/Dec 981/1020. …NYSE Adv/Dec 1070/1525.

09:18AM ET

[BRIEFING.COM] S&P futures vs fair value: -7.00. Nasdaq futures vs fair value: -29.50.

The major U.S. indices finished Wednesday's session at new record highs, but this morning's hotter-than-expected August CPI reading and relatively hawkish comments from the Bank of England have forced investors to dial back their bullish sentiment. The S&P 500 futures point to a modestly lower open for the benchmark index, trading seven points, or 0.3%, below fair value.

According to the Consumer Price Index, consumer prices rose 0.4% in August, beating the Briefing.com consensus, which anticipated a rise of 0.3%. Meanwhile, the core CPI, which excludes food and energy, came in as expected, showing a month-over-month increase of 0.2%. On a year-over-year basis, total CPI and core CPI are up 1.9% and 1.7%, respectively.

The key takeaway from the report is that the year-over-year bump in headline inflation toward the Fed's 2.0% target will prompt the market to consider more carefully the prospect of another rate hike before the end of the year.

Initial claims, meanwhile, decreased by 14,000 to 284,000 (Briefing.com consensus 310,000) for the week ending September 9. Continuing claims for the week ending September 2 decreased by 7,000 to 1.944 million. The initial claims reading, which was impacted by Hurricanes Harvey and Irma, held below 300,000 for the 132nd straight week.

In Europe, the Bank of England left its key policy rate at 0.25% and its asset purchase program at 435 billion, as expected, but noted that it could potentially raise rates more aggressively than the market expects if the economy keeps evolving as expected. The British pound has spiked 1.1% against the U.S. dollar to 1.3352, hitting a 52-week high, following the central bank's comments.

In Asia, North Korea is back to spewing fantastical remarks about sinking Japan and reducing the U.S. to ashes. In addition, recent reports suggest that the hermit nation might be preparing another missile launch.

Back on the home front, U.S. Treasuries are trading lower once again this morning, pushing yields higher for the fourth session in a row; the benchmark 10-yr yield is up one basis point at 2.20%.

Also of note, crude oil is up 1.3% at $49.95/bbl--looking for its fourth-consecutive win--and gold is down 0.2% at $1,327.31/ozt--on track to register its fourth-consecutive loss.

08:51AM ET

[BRIEFING.COM] S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -32.10.

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

Equity indices in the Asia-Pacific region ended Thursday on a mostly lower note, but the losses were limited. China's Ministry of Commerce expressed concern over U.S. President Trump's block of Lattice Semiconductor's sale to a Chinese-backed investment fund due to national security concerns. Reports in the Japanese press indicate China may have stopped textile trade with North Korea before the announcement of recent UN sanctions.

In economic data:
China's August Retail Sales +10.1% year-over-year (expected 10.5%; last 10.4%), August Industrial Production +6.0% year-over-year (consensus 6.6%; last 6.4%), and August Fixed Asset Investment +7.8% year-over-year (consensus 8.2%; last 8.3%)
Australia's August Employment Change 54,200 (expected 15,000; previous 29,200) and Full Employment Change 40,100 (last -19,800). August Unemployment Rate held at 5.6%, as expected. August Participation Rate 65.3% (expected 65.1%; last 65.1%) and MI Inflation Expectations 3.8% (last 4.2%)
India's August WPI Inflation 3.24% year-over-year (expected 3.00%; last 1.88%)
Singapore's Q2 Unemployment Rate 2.2% (last 2.2%)

---Equity Markets---

Japan's Nikkei lost 0.3%, settling just above its 50-day moving average. Nisshinbo Holdings pulled back after yesterday's surge, falling 9.8%. Sony, Konami, Tosoh, Hitachi Construction, Komatsu, Familymart, J Front Retailing, Yamaha, and Softbank lost between 1.1% and 3.5%.
Hong Kong's Hang Seng ended lower by 0.4%. amid losses in most components. Geely Automobile fell 1.7% while financials like Link Reit, China Life Insurance, Ping An Insurance, ICBC, and Hang Seng Bank lost between 0.6% and 1.2%. On the upside, consumer names Want Want China and China Mengniu Dairy both gained near 3.0%.
China's Shanghai Composite surrendered 0.4%. Luoyang Glass, Xiamen Tungsten, China Northern Rare Earth High-Tech, China Security & Fire, and Shenghe Resources Holding posted losses between 3.9% and 6.5%.
India's Sensex added 0.2%. Sun Pharma and Dr. Reddy's Labs posted respective gains of 4.2% and 1.8%. AXIS Bank rose 4.2% while ICICI Bank and SBI added 0.7% and 0.2%, respectively. Wipro was the weakest performer, losing 4.1%.

Major European indices trade lower with the UK's FTSE (-0.9%) showing relative weakness. The British pound has spiked 1.0% against the U.S. dollar to 1.3337, hitting a 52-week high, after the Bank of England acknowledged that tightening may need to happen quicker than the market currently expects. For now, however, the BoE voted to maintain its key rate and asset purchase program at their respective 0.25% and GBP435 billion. The Swiss National Bank also stood pat, holding its SARON rate at -0.75%, as expected. In Spain, El Mundo reported that a judge could order electric companies to shut down power delivery to polling stations on October 1. Catalan officials remain determined to go through with the scheduled referendum.

In economic data:
Italy's August CPI 0.3%, as expected (last 0.3%); +1.2% year-over-year, as expected (last 1.2%)
France's August CPI 0.5%, as expected (last 0.5%)

---Equity Markets---

France's CAC has shed 0.1%. On the upside, TechnipFMC is up 2.7% while other growth-sensitive names like Valeo, Air Liquide, Saint Gobain, Cap Gemini, and LafargeHolcim show gains between 0.3% and 1.9%. However, on the downside, ArcelorMittal and Carrefour are down 1.6% and 1.0%, respectively.
Germany's DAX is lower by 0.4% amid losses in most components. Deutsche Boerse, Adidas, SAP, Infineon, Lufthansa, and Thyssenkrupp hold losses between 0.5% and 1.4%. Conversely, Continental has climbed 1.7%.
UK's FTSE is down 0.9%. Morrison Supermarkets has dropped 5.3% in reaction to disappointing guidance while financials like Experian, Provident Financial, Standard Life, Prudential, Direct Line Insurance, and HSBC show losses between 0.7% and 6.0%. On the upside, Next has spiked 10.9% after boosting its guidance.


08:35AM ET

[BRIEFING.COM] S&P futures vs fair value: -6.50. Nasdaq futures vs fair value: -27.50.

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

Just in, total CPI increased 0.4% (Briefing.com consensus 0.3%) in August while core CPI, which excludes food and energy, rose 0.2% (Briefing.com consensus 0.2%). On a year-over-year basis, total CPI and core CPI are up 1.9% and 1.7%, respectively.

Separately, the latest weekly initial jobless claims count totaled 284,000 while the Briefing.com consensus expected a reading of 310,000. Today's tally was below the unrevised prior week count of 298,000. As for continuing claims, they declined to 1.944 million from the revised count of 1.951 million (from 1.940 million).

08:03AM ET

[BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -10.30.

The major U.S. indices eked out record-high closes once again on Wednesday following a relatively uneventful range-bound session. Market-moving catalysts remain in short supply again this morning, leaving the S&P 500 futures just a tick below fair value. However, the August CPI reading has the potential to mix things up when it crosses the wires at 8:30 ET.

Despite historically-low interest rates and a tightening of the labor market, inflation continues to remain below the Fed's year-over-year target of 2.0%, forcing the U.S. central bank to reconsider its forecast for three rate hikes in 2017. While the Fed uses the PCE Price Index as its primary measure of inflation, today's CPI reading will still most certainly have an impact on the market's rate-hike expectations.

The Briefing.com consensus expects that the CPI reading will show a month-over-month increase of 0.3% and that the core CPI reading, which excludes the volatile categories of food and energy, will show a month-over-month increase of 0.2%. In addition, investors will receive the weekly Initial Claims Report (Briefing.com consensus 310,000) also at 8:30 ET.

U.S. Treasuries are trading lower once again this morning, pushing yields higher for the fourth day in a row; the benchmark 10-yr yield is currently up one basis point at 2.21%. Meanwhile, the U.S. dollar has dropped 1.0% against the British pound to 1.3335 after the Bank of England said monetary policy could need to be tightened by a somewhat greater extent than current market expectations if inflation continues to hold at its current pace.

Also of note, the BoE decided to maintain its key rate and asset purchase program at their respective 0.25% and GBP435 billion, as expected.

In U.S. corporate news:

Tenet Healthcare (THC 17.99, +1.75): +10.8% following a Wednesday evening report that the company is exploring a possible sale.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a mostly lower note, but the losses were limited. Japan's Nikkei -0.3%, Hong Kong's Hang Seng -0.4%, China's Shanghai Composite -0.4%, India's Sensex +0.2%.
In economic data:
China's August Retail Sales +10.1% year-over-year (expected 10.5%; last 10.4%), August Industrial Production +6.0% year-over-year (consensus 6.6%; last 6.4%), and August Fixed Asset Investment +7.8% year-over-year (consensus 8.2%; last 8.3%)
Australia's August Employment Change 54,200 (expected 15,000; previous 29,200) and Full Employment Change 40,100 (last -19,800). August Unemployment Rate held at 5.6%, as expected. August Participation Rate 65.3% (expected 65.1%; last 65.1%) and MI Inflation Expectations 3.8% (last 4.2%)
India's August WPI Inflation 3.24% year-over-year (expected 3.00%; last 1.88%)
Singapore's Q2 Unemployment Rate 2.2% (last 2.2%)
In news:
China's Ministry of Commerce expressed concern over U.S. President Trump's block of Lattice Semiconductor's sale to a Chinese-backed investment fund due to national security concerns.
Reports in the Japanese press indicate China may have stopped textile trade with North Korea before the announcement of recent UN sanctions.

Major European indices trade on a mixed note. France's CAC unch, Germany's DAX -0.2%, UK's FTSE -0.4%, Spain's IBEX -0.7%.
In economic data:
Italy's August CPI 0.3%, as expected (last 0.3%); +1.2% year-over-year, as expected (last 1.2%)
France's August CPI 0.5%, as expected (last 0.5%)
In news:
El Mundo reported that a Spanish judge could order electric companies to shut down power delivery to polling stations on October 1. Catalan officials remain determined to go through with the scheduled referendum.
The Bank of England voted to maintain its key rate and asset purchase program at their respective 0.25% and GBP435 billion.
The Swiss National Bank also stood pat, holding its SARON rate at -0.75%, as expected.

05:53AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.10. Nasdaq futures vs fair value: -7.40.
05:53AM ET

[BRIEFING.COM] Nikkei

...19807...-58.40

...-0.30%

Hang Seng

...27777...-116.90

...-0.40%

05:53AM ET

[BRIEFING.COM] FTSE

...7383.46...+3.80

...+0.10%

DAX

...12519...-34.50

...-0.30%

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 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 +20.0% YTD
Dow Jones Industrial Average +12.1% YTD
S&P 500 +11.6% YTD
Russell 2000 +5.1% YTD

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

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

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

Image Trade Strategies via Volatility Analysis @ http://www.thestrategylab.com/VolatilityTrading.htm

Image Review of TheStrategyLab @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167

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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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http://www.thestrategylab.com
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