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 Post subject: September 22nd Friday Trade Results - No Trades
PostPosted: Fri Sep 22, 2017 10:52 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...too many issues today for me and decided that not trading was the best solution.


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=2651

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. Yet, I'm always backtesting new concepts of WRB Analysis, new entries, new trade management, new position size management before application in real money trades (small position size trades) to adapt to changed market conditions prior to large position size trades or sharing the new concepts with fee-base clients...living up to the name of my website. TheStrategyLab.

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: -9.64… | Nasdaq: +4.23… | S&P: +1.62…
NASDAQ Vol: 1.64 bln… Adv: 1764… Dec: 942…
NYSE Vol: 722.1 mln… Adv: 1893… Dec: 1024…

Moving the Market

Stocks struggle to extend record highs

Senator John McCain says he'll vote against the Graham-Cassidy health care bill

Apple (AAPL) slides once again; weighs on broader market

Sector Watch
Strong: Industrials, Energy, Telecom Services
Weak: Materials, Consumer Staples, Utilities, Real Estate
04:30PM ET

[BRIEFING.COM] Friday was another quiet day on Wall Street as the major U.S. indices hovered near their flat lines from start to finish. The S&P 500 (+0.1%) finished just a tick above its unchanged mark, as did the Nasdaq (+0.1%), thanks to a late-afternoon rally that left the benchmark index at its best level of the day. Meanwhile, the Dow (unch) settled with a slim loss and the Russell 2000 (+0.5%) outperformed, settling at a new all-time high.

The telecom services sector (+1.4%) rallied on Friday following a Reuters report that Sprint (S 8.52, +0.49) and T-Mobile US (TMUS 64.06, +0.67) are nearing a merger deal following months of on-again, off-again talks. The two wireless names jumped 6.1% and 1.1%, respectively, in reaction to the report.

Apple (AAPL 151.89, -1.50) tumbled for the third day in a row, losing 1.0%, amid reports of shorter-than-expected lines for Friday's iPhone 8 launch. However, the top-weighted technology sector (+0.1%) held up relatively well, thanks in part to chipmakers, which pushed the PHLX Semiconductor Index higher by 0.5%.

On the earnings front, Finish Line (FINL 9.73, +0.51) jumped 5.5% after its better-than-expected earnings overshadowed its worse-than-expected revenues. Similarly, CarMax (KMX 74.19, +5.35) climbed 7.8%, hitting its best mark since April 2015, after beating both top and bottom line estimates.

The health care sector (+0.1%) traded behind the broader market for the majority of Friday's session, but moved sharply higher after Senator John McCain (R-AZ) said he cannot support the Graham-Cassidy bill, which is the GOP's latest attempt at replacing the Affordable Care Act.

Mr. McCain's decision puts the bill on the ropes as Republicans can only afford to lose two votes in the Senate and Senator Rand Paul (R-KY) has already voiced his opposition. Senator Susan Collins (R-ME) said she is leaning towards voting against the bill as well.

Elsewhere on the political front, North Korea threatened to test a hydrogen bomb in the Pacific Ocean and released a statement from its Supreme Leader Kim Jong-un, in which he criticizes President Trump's Tuesday speech at the United Nations.

In the bond market, U.S. Treasuries settled Friday's session mixed; the 2-yr yield climbed one basis point to 1.44% while the 10-yr yield dropped two basis points to 2.26%.

Also of note, major oil producers wrapped up a Friday meeting in Vienna without reaching an agreement on whether they should extend, and/or deepen, the current production-cut deal between OPEC and non-OPEC nations. Crude oil held steady following the meeting's conclusion, settling higher by 0.2% at $50.66/bbl.

Investors did not receive any economic data on Friday, nor will they receive any economic data on Monday.

Nasdaq Composite +19.4% YTD
Dow Jones Industrial Average +13.1% YTD
S&P 500 +11.8% YTD
Russell 2000 +6.9% YTD

Week In Review: Holding Steady

Equities held steady this week as investors digested the latest FOMC policy directive, which was released on Wednesday afternoon. The major indices ticked up to new record highs in the first half of the week, but faltered a bit on the back nine. The S&P 500 ticked up 0.1% while the Dow (+0.4%) did a little better and the Nasdaq (-0.3%) did a little worse.

The Fed's latest policy directive came in pretty much as expected. The FOMC unanimously voted to leave the fed funds target range at 1.00%-1.25% and announced that it will start its balance sheet normalization process in October. Meanwhile, the Fed's so-called "dot plot" was unchanged from the one released in June, showing that the median FOMC member still anticipates an additional rate hike in 2017 and three rate hikes in 2018.

Accordingly, investors upwardly adjusted their rate-hike expectations, evidenced by the fed funds futures market, which now places the chances of a December rate hike at 72.8%--up from 57.8% last week and 31.9% the week before that. Bonds sold off for the second week in a row following the FOMC announcement, sending yields higher across the curve. The 2-yr yield climbed six basis points to 1.44%, hitting its highest level in nearly nine years, while the benchmark 10-yr yield also jumped six basis points to 2.26%.

Within the equity market, the heavily-weighted financial sector (+2.7%) finished near the top of the sector standings, benefiting from the prospect of heightened interest rates and some sector rotation. The financial group has trailed the broader market for much of the year, but has been making a come back over the last two weeks; the sector has added 6.9% since September 7.

The telecom services group (+3.8%) also put together a solid performance this week, trimming its year-to-date loss to 8.5%, amid reports that Sprint (S) and T-Mobile US (TMUS) are nearing a merger deal after more than four months of on-and-off talks. The two companies settled the week with gains of 10.8% and 4.7%, respectively.

On the flip side, the top-weighted technology sector (-0.7%) underperformed, thanks in large part to Apple (AAPL), which dropped 5.0%. There were rumors of softer-than-expected demand for the new iPhone 8, which hit stores on Friday, but this week's slide was also likely due to some end-of-quarter profit taking following yet another solid three-month stretch for the company. AAPL shares will enter Monday's session with a quarter-to-date gain of 5.5% and a year-to-date gain of 31.1%.

Countercyclical groups like health care (-1.2%), consumer staples (-2.3%), and utilities (2.8%) also struggled this week while cyclical groups like materials (+1.0%), industrials (+2.0%), and energy (+2.0%) finished with sizable gains. Meanwhile, the growth-sensitive consumer discretionary and real estate groups lost 0.1% and 2.8%, respectively.

In politics, President Trump made his United Nations debut on Tuesday, taking a hard stance against North Korea. The hermit nation later criticized the president for his comments and threatened to test a hydrogen bomb in the Pacific Ocean.

Meanwhile, a new health-care bill written by Senators Lindsey Graham (R-SC) and Bill Cassidy (R-LA) gained support within the GOP this week, but its passage looks unlikely after Senators Rand Paul (R-KY) and John McCain (R-AZ) voiced their opposition and Senator Susan Collins (R-ME) said she is leaning towards voting 'no.' The GOP can only afford to lose two votes in the Senate, assuming Vice President Mike Pence votes in favor of the bill in the event of a tie.

Dow: -9.64… | Nasdaq: +4.23… | S&P: +1.62…

NASDAQ Adv/Dec 1764/942. …NYSE Adv/Dec 1893/1024.

03:30PM ET

[BRIEFING.COM]

Following yesterday's sharp 4.5%, EIA data-driven, sell-off in natural gas futures, front-month
Oct nat gas rose $0.01 to settle at $2.96/MMBtu today
In other energy, Nov crude oil futures are holding onto a small gain today, settling early $0.11 higher at $50.68/barrel
Precious metals showed small moves today with Dec gold gaining $3.00 to $1297.70/oz and Dec silver slipping $0.02 to $16.99/oz
In base metals, Dec copper rose $0.02 (or +0.7%) to settle at $2.95/lb

Dow: -28.50… | Nasdaq: -2.59… | S&P: -0.32…

NASDAQ Adv/Dec 1709/1150. …NYSE Adv/Dec 1824/1069.

03:00PM ET

[BRIEFING.COM] Moving into the final stretch, the major averages are hovering near their unchanged marks, with the Dow (-0.2%) showing relative weakness.

Five sectors are on track to end the week with gains--telecom services (+3.7% WTD), financials (+2.5% WTD), industrials (+1.9% WTD), energy (+1.9% WTD), and materials (+0.9% WTD)--while six sectors are poised to settle with losses--consumer discretionary (-0.2% WTD), technology (-0.8% WTD), health care (-1.3% WTD), consumer staples (-2.4% WTD), utilities (-2.8% WTD), and real estate (-2.9% WTD).

As for the major indices, the S&P 500 is flat for the week while the Dow (+0.3% WTD) holds a modest gain and the Nasdaq (-0.4% WTD) holds a modest loss.

Dow: -35.06… | Nasdaq: +0.66… | S&P: -0.85…

NASDAQ Adv/Dec 1697/1095. …NYSE Adv/Dec 1795/1086.

02:30PM ET

[BRIEFING.COM] Equities have ticked up in recent action, pushing the Nasdaq (unch) into positive territory.

The health care sector (unch) moved sharply higher after Senator John McCain (R-AZ) said he cannot support the Graham-Cassidy bill, which is the GOP's latest attempt at replacing the Affordable Care Act. Mr. McCain's decision puts the bill on the ropes as Republicans can only afford to lose two votes in the Senate and Senator Rand Paul (R-KY) has already voiced his opposition. Senator Susan Collins (R-ME) said she is leaning towards voting against the bill as well.

Health insurers like United Health (UNH 192.70, -2.50) and Aetna (AET 153.29, -0.17) moved notably higher in response to the headline. UNH shares were down 3.2% prior to the announcement, but now trade lower by just 1.5%. Likewise, AET shares trimmed their loss from 1.7% to 0.1%.

Dow: -34.36… | Nasdaq: +0.98… | S&P: -1.23…

NASDAQ Adv/Dec 1709/1073. …NYSE Adv/Dec 1805/1070.

01:55PM ET

[BRIEFING.COM] Equity indices have not changed since the last update.

Transports are outperforming once again today, sending the Dow Jones Transportation Average higher by 0.3%. Airlines are among the strongest components within the transportation average, evidenced by the US Global Jets ETF (JETS 29.46, +0.19), which is up 0.6%. Of the airlines, American Airlines (AAL 47.30, +1.01) exhibits particular strength, jumping 2.2%, after Barclays upgraded AAL shares to 'Overweight' from 'Equal Weight' this morning.

For the week, the DJTA holds a gain of 1.6%. For comparison, the S&P 500 currently shows a week-to-date loss of 0.1%.

Dow: -34.37… | Nasdaq: -5.52… | S&P: -1.39…

NASDAQ Adv/Dec 1686/1090. …NYSE Adv/Dec 1797/1061.

01:25PM ET

[BRIEFING.COM] The major averages continue trading little changed with the S&P 500 (-0.1%) on track to shed 0.1% for the week.

The financial sector (-0.1%; +2.6% week-to-date) is set to finish among this week's leaders, trailing only the telecom services sector (+1.0%; +3.4% week-to-date). The group spiked in response to an uptick in December rate hike expectations, but it remains to be seen if banks will be able to build on this week's gains, considering the yield curve has seen some notable flattening. The 2s10s spread is set to end the week unchanged at 82 basis points, but the 5s30s spread has compressed to 93 basis points from 97 basis points at the end of last week and the 2s30s spread has dropped to 135 basis points from last week's 139 basis points. A flatter yield curve signals a reduction in growth expectations, which bodes poorly for earnings prospects of banks.

Treasuries have spent the afternoon in a narrow range with the 10-yr yield dipping two basis points to 2.26%.

Dow: -57.09… | Nasdaq: -9.99… | S&P: -2.66…

NASDAQ Adv/Dec 1625/1134. …NYSE Adv/Dec 1739/1114.

01:00PM ET

[BRIEFING.COM] Stocks opened Friday's session slightly lower and have been trending sideways ever since, leaving the major U.S. indices little changed at midday. The Dow and the Nasdaq trade roughly in line with the S&P 500, which currently shows a loss of 0.1%.

Sprint (S 8.40, +0.37) and T-Mobile US (TMUS 63.63, +0.24) are nearing a merger deal after more than four months of on-and-off talks, according to Reuters. The two companies have climbed 4.9% and 0.4%, respectively, in reaction to the report and have helped the telecom services space (+0.8%) reach the top of today's sector standings.

Meanwhile, on the earnings front, Finish Line (FINL 9.93, +0.71) and CarMax (KMX 74.18, +5.35) are up 8.1% and 7.8%, respectively, after releasing their latest quarterly results. Finish Line beat earnings estimates, but fell short on revenues, while CarMax beat both top and bottom line estimates. KMX shares hover at their best level since April 2015.

The consumer discretionary space, which houses Finish Line and CarMax, trades a step ahead of the broader market, as do the industrials (+0.3%) and energy (+0.3%) groups. On the flip side, the real estate sector (-0.7%) shows notable weakness, but the remaining laggards hold losses of no more than 0.4%.

Apple (AAPL 151.54, -1.85) is struggling for the third day in a row, dropping 1.2%, amid reports of shorter-than-expected lines for today's iPhone 8 launch. However, the top-weighted technology sector (unch) has held up relatively well, thanks in part to chipmakers, which have bounced back from a two-day slide; the PHLX Semiconductor Index is up 0.4%.

Outside of the equity market, major oil producers wrapped up a meeting in Vienna this morning without reaching an agreement on whether they should extend, and/or deepen, last year's production-cut deal between OPEC and non-OPEC nations.

The result was not surprising as many believed it was a bit premature to discuss an extension given that the supply cut agreement currently in place doesn't expire for another six months. Crude oil has been largely unfazed following the meeting's conclusion and currently trades modestly lower (-0.2%) at a price of $50.42/bbl.

In the bond market, Treasuries are modestly higher this afternoon, reclaiming a small portion of this week's decline. The benchmark 10-yr yield is down two basis points at 2.26%. However, for the week, the 10-yr yield is still up six basis points.

On the geopolitical front, North Korea has threatened to test a hydrogen bomb in the Pacific Ocean and released a statement in which its Supreme Leader Kim Jong-un criticized President Trump's Tuesday speech at the United Nations.

Investors have not received any economic data today.

Dow: -37.52… | Nasdaq: -7.20… | S&P: -2.03…

NASDAQ Adv/Dec 1614/1150. …NYSE Adv/Dec 1712/1114.

12:25PM ET

[BRIEFING.COM] Equity indices are still slightly lower this afternoon with the S&P 500 showing a loss of 0.1%. The benchmark index came into today's session flat for the week, therefore, its week-to-date loss is also 0.1%.

The industrial sector (+0.3%) is trading ahead of the broader market this afternoon, extending its week-to-date gain to 2.0%. American Airlines (AAL 47.07, +0.78) is one of the sector's strongest components, jumping 1.6%, after Barclays upgraded AAL shares to 'Overweight' from 'Equal Weight' this morning.

A win today would mark the third in a row for American Airlines, a three-day run in which the company has climbed 6.1%. AAL shares are hovering just a step below their 50-day simple moving average (47.83), which they haven't breached since early August.

Dow: -25.98… | Nasdaq: -6.68… | S&P: -1.43…

NASDAQ Adv/Dec 1624/1118. …NYSE Adv/Dec 1790/1035.

11:55AM ET

[BRIEFING.COM] Range-bound action continues as the S&P 500 maintains its slim loss of 0.1%.

Major oil producers wrapped up a meeting in Vienna this morning without reaching an agreement on whether they should extend, and/or deepen, last year's production-cut deal between OPEC and non-OPEC nations. Going into today's meeting, many believed it was a bit premature to discuss an extension given that the supply cut currently in place doesn't expire for another six months.

Crude oil has been largely unfazed following the meeting's conclusion and currently trades flat at a price of $50.53/bbl. For the week, the commodity is up 1.3%.

Meanwhile, the energy sector (+0.6%) trades with the telecom services space (+0.7%) at the top of today's leaderboard.

Dow: -30.90… | Nasdaq: -8.41… | S&P: -1.93…

NASDAQ Adv/Dec 1624/1118. …NYSE Adv/Dec 1786/1007.

11:35AM ET

[BRIEFING.COM] The major averages haven't changed since the last update.

Finish Line (FINL 10.00, +0.78) opened today's session with a loss of around 8.0%. However, FINL shares immediately pivoted to the upside and now sport a gain of 10.9%. The shoe and apparel retailer reported its quarterly earnings this morning, beating bottom-line estimates but coming up short on revenues.

In general, retailers are having a good day, evidenced by the SPDR S&P Retail ETF (XRT 40.68, +0.37), which is up 0.9%.

Meanwhile, CarMax (KMX 73.45, +4.61) has surged 6.7% after the company reported better-than-expected earnings and revenues. The consumer discretionary space (unch), which houses both of the aforementioned names, trades a step ahead of the broader market.

Dow: -32.64… | Nasdaq: -9.78… | S&P: -2.85…

NASDAQ Adv/Dec 1617/1109. …NYSE Adv/Dec 1787/988.

11:00AM ET

[BRIEFING.COM] The major U.S. indices have continued trending sideways this morning, hovering just a tick below their unchanged marks.

Sector movement has been pretty modest overall. The lightly-weighted telecom services space (+0.7%) exhibits relative strength following reports that Sprint (S 8.37, +0.34) and T-Mobile US (TMUS 64.02, +0.63) are nearing a merger deal after more than four months of on-and-off talks. The energy space also outperforms, sporting a gain of 0.6%.

Meanwhile, the utilities sector trades at the bottom of the sector standings with a loss of 0.5%. The heavily-weighted financial group (-0.3%) is also underperforming, giving back a small chunk of its weekly advance. Despite today's slip, the financial sector holds a week-to-date gain of 2.3%.

Dow: -33.09… | Nasdaq: -8.31… | S&P: -2.37…

NASDAQ Adv/Dec 1644/1068. …NYSE Adv/Dec 1843/918.

10:40AM ET

[BRIEFING.COM]

Oil prices are flat currently after OPEC/non-OPEC meeting in Vienna ended without any decision to extend/deepen production cuts
Nov crude oil is now +$0.01 at $50.56/barrel
In other energy, Oct nat gas is +0.02% at $2.97/MMBtu, following yesterday's 4.5% sell-off, which was driven by the 97 bcf build seen in the weekly EIA natural gas storage data
Moving over to metals...
Dec gold +$6.19 at $1300.99/oz and Dec silver is +$0.04 at $17.06/oz
Looking at base metals, Dec copper is unchanged at $2.93/lb

Dow: -11.14… | Nasdaq: +0.32… | S&P: -0.44…

NASDAQ Adv/Dec 1626/941. …NYSE Adv/Dec 1848/875.

09:55AM ET

[BRIEFING.COM] The major averages continue to drift just a tick below their flat lines with the Dow showing a loss of 0.1%.

Within the Dow, Apple (AAPL 151.82, -1.57) is the weakest performer, by a fairly wide margin, dropping 1.0% to extend its week-to-date loss to 5.2%. On the flip side, Boeing (BA 257.76, +1.72), Verizon (VZ 49.32, +0.38), and Cisco Systems (CSCO 32.90, +0.20) are the strongest components, adding around 0.6% apiece.

For the week, the Dow Jones Industrial Average currently holds a gain of 0.3%, which is better than both the S&P 500 (unch WTD) and the Nasdaq (-0.5% WTD). Small caps have outperformed this week, sending the Russell 2000 higher by 0.9%.

Dow: -12.65… | Nasdaq: -4.60… | S&P: -1.47…

NASDAQ Adv/Dec 1219/1363. …NYSE Adv/Dec 1669/960.

09:40AM ET

[BRIEFING.COM] The major U.S. indices opened Friday's session with modest losses; the S&P 500 is lower by 0.1%.

More than half of the 11 sectors are trading in the red, but losses have been limited thus far. The heavily-weighted financial sector trades at the bottom of the leaderboard with a modest loss of 0.4%. On the flip side, the telecom services and industrials sectors outperform, sporting gains of 0.4% and 0.2%, respectively.

In the bond market, Treasuries are still trading higher and have strengthened a bit in recent action. The benchmark 10-yr yield is down four basis points at 2.24%.

Dow: -12.53… | Nasdaq: -7.34… | S&P: -1.97…

NASDAQ Adv/Dec 1255/1222. …NYSE Adv/Dec 1483/997.

09:15AM ET

[BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -19.10.

Stocks settled Thursday's session a step below their flat lines, bringing the S&P 500 back to its flat line for the week. It appears that the modest selling will continue at the start of today's session as the S&P 500 futures currently trade four points, or 0.1%, below fair value.

In corporate news, Sprint (S 8.34, +0.31) and T-Mobile US (TMUS 64.25, +0.86) are up 3.9% and 1.4%, respectively, in pre-market action following a Reuters report that the two wireless names are close to a merger deal. Conversely, GrubHub (GRUB 51.09, -2.42) has dropped 4.5% following news that Wal-Mart (WMT 80.01, 0.00) is testing a new food delivery service and that Amazon (AMZN 962.50, -2.15) plans to partner with private company Olo for online food ordering.

On the earnings front, Finish Line (FINL 8.40, -0.82) has plunged 8.9% after missing revenue estimates while CarMax (KMX 71.60, +2.76) has added 4.0% after reporting better-than-expected earnings and revenues.

Crude oil is trading flat at $50.55/bbl as investors await news from Vienna, where major oil producers are meeting to discuss the possibility of extending and/or deepening the current OPEC/non-OPEC supply cut agreement, which is set to expire in March 2018. However, many analysts believe that an extension announcement would be a bit premature at this point in time.

Meanwhile, U.S. Treasuries are mixed with shorter-dated issues moving lower while longer-dated issues move higher. The 2-yr yield is up one basis point at 1.44% while the benchmark 10-yr yield is down three basis points at 2.28%. For the week, the 2-yr and 10-yr yields are up six basis points and five basis points, respectively.

Also of note, North Korea has threatened to test a hydrogen bomb in the Pacific Ocean and released a statement in which its Supreme Leader Kim Jong-un criticized President Trump's Tuesday speech at the United Nations.

Investors will not receive any economic data on Friday.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.80. Nasdaq futures vs fair value: -17.90.

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

Equity indices in the Asia-Pacific region ended the week on a mostly lower note. North Korea's KCNA released a statement attributed to Supreme Leader Kim Jong-un, in which the country's leader responded to President Trump's speech at the UN, saying 'the highest level of countermeasure' will be considered. The statement went on, calling President Trump a 'dotard.' Reports from South Korea indicate that North Korea's Foreign Minister said his country is considering a nuclear test over the Pacific. Japan's Prime Minister Shinzo Abe will reportedly speak to the press on Monday. This comes amid speculation that Prime Minister Abe is preparing to call a snap election. Standard & Poor's downgraded Hong Kong's rating to AA+ from AAA and revised its outlook to Stable from Negative.

In economic data:
Japan's Foreign Bonds Buying JPY381.80 billion (last JPY198.70 billion) and Foreign Investment in Japanese Stocks -JPY918.60 billion (last -JPY644.60 billion)

---Equity Markets---

Japan's Nikkei shed 0.3%, narrowing this week's gain to 1.9%. JFE Holdings, Shiseido, Alps Electric, J Front Retailing, Nitto Denko, Dentsu, and Suzuki Motor lost between 1.8% and 4.7%. On the flip side, Credit Saison, Meiji Holdings, East Japan Railway, Sumitomo Mitsui, and Konami rose between 1.4% and 1.9%.
Hong Kong's Hang Seng lost 0.8%, but added 0.3% for the week. Property names and financials underperformed with China Resources Land, China Overseas, Ping An Insurance, Hang Lung Properties, SHK Properties, BoC Hong Kong, and Cheung Kong Property Holdings posted losses between 1.3% and 3.9%.
China's Shanghai Composite shed 0.2%, ending the week little changed. Shanghai Chinafortune, Cangzhou Dahua, Fangda Carbon New Material, Hangzhou Silan Microelectronics, and Shanghai Lingang Holdings surrendered between 4.3% and 5.8%.
India's Sensex settled lower by 1.4%, trimming this week's advance to 0.7%. Tata Steel, Larsen & Toubro, Reliance Industries, ICICI Bank, Hero MotoCorp, Bajaj Auto, Cipla, Infosys, and Dr. Reddy's Labs lost between 1.2% and 4.7%. Only two components finished in the green as Wipro rose 1.0% and Coal India added 0.1%.

Major European indices trade on a mostly higher note. British Prime Minister Theresa May will speak at Santa Maria Novella Church in Florence around 14:00 local time. In her speech, Ms. May is expected to call on the EU to make the Brexit process as smooth as possible. In Spain, the country's federal government has called police and civil guard reinforcements to Catalonia. Reports from yesterday indicate the Spanish government hired ferries to house police and security officers in the Port of Barcelona. The independence referendum is scheduled for October 1 and Spanish markets remain unconcerned with the developments.

In economic data:
Eurozone September flash Manufacturing PMI 58.2 (expected 57.1; last 57.4) and flash Services PMI 55.6 (expected 54.7; last 54.7)
Germany's September flash Manufacturing PMI 60.6 (expected 59.0; previous 59.3) and flash Services PMI 55.6 (consensus 53.8; last 53.5)
UK's September CBI Industrial Trends Orders 7 (expected 13; last 13)
France's September flash Manufacturing PMI 56.0 (expected 55.5; last 55.8) and flash Services PMI 57.1 (consensus 54.8; last 54.9). Q2 GDP +0.5% quarter-over-quarter, as expected
Spain's trade deficit widened to EUR2.10 billion from EUR1.30 billion (expected deficit of EUR1.00 billion)

---Equity Markets---

UK's FTSE is up 0.1% with select consumer names and financials showing relative strength. Standard Life, British American Tobacco, Dixons Carphone, RSA Insurance, InterContinental Hotels, ITV, Next, Old Mutual, and Taylor Wimpey have gained between 0.3% and 1.9%.
Germany's DAX is flat. Infineon, Lufthansa, Commerzbank, SAP, BASF, and Merck are up between 0.1% and 1.0%. On the downside, Deutsche Bank is down 0.4% and Siemens has shed 0.8%.
France's CAC trades up 0.3%. L'Oreal has spiked 3.4% after the death of majority owner Liliane Bettencourt prompted speculation about Nestle increasing its stake in the company or buying it outright. Pernod Ricard, STMicroelectronics, Sanofi, and Kering are up around 0.8% apiece.
Italy's MIB has climbed 0.2%. Fiat is up 3.8% while Banca Pop Emilia Romagna, Intesa Sanpaolo, Banca Generali, and UBI Banca show gains between 0.3% and 1.4%.

08:31AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -15.40.

The S&P 500 futures trade two points below fair value.

Coming into Friday's session, five sectors hold week-to-date gains--financials (+2.7%), telecom services (+2.4%), industrials (+1.7%), energy (+1.4%), and materials (+1.3%)--while six sectors hold week-to-date losses--consumer discretionary (-0.4%), technology (-0.7%), health care (-1.2%), real estate (-2.0%), utilities (-2.1%), and consumer staples (-2.1%).

News that Sprint (S 8.30, +0.27) and T-Mobile US (TMUS 64.35, +0.96) are nearing a merger deal may give the telecom services group the boost it needs to surpass the financial space at the top of the sector standings. The two companies show pre-market gains of 3.3% and 1.5%, respectively.

08:02AM ET

[BRIEFING.COM] S&P futures vs fair value: -0.60. Nasdaq futures vs fair value: -12.70.

Stocks slipped on Thursday, leaving the major U.S. indices a step below their record highs. As a whole, investor sentiment has been neutral this week, evidenced by the S&P 500, which enters Friday's session flat for the week. It appears that it will be more of the same at the opening bell as the S&P 500 futures trade just one point below fair value.

Crude oil is modestly lower this morning, down 0.4% at $50.37/bbl, as investors await news from Vienna, where major oil producers are meeting to discuss the possibility of extending and/or deepening the current OPEC/non-OPEC supply cut agreement, which is set to expire in March 2018. However, many analysts believe that an extension announcement would be a bit premature at this point in time.

In the bond market, Treasuries have climbed higher this morning, reclaiming a small portion of this week's losses. The benchmark 10-yr yield is down two basis points at 2.26%, but still remains higher by six basis points for the week. Meanwhile, the 2-yr yield is flat at 1.43%.

Also of note, the U.S. Dollar Index has dropped 0.3% to 91.73, gold is up 0.4% at $1,300.01/ozt, and the CBOE Volatility Index (VIX 9.89, +0.22) has climbed 2.3%.

Investors will not receive any economic data on Friday.

In U.S. corporate news:

Hewlett Packard Enterprise (HPE 14.13, +0.34): +2.5% following a Bloomberg report that the company is planning to cut about 10% of its staff.
Sprint (S 8.35, +0.32): +4.0% following a Reuters report that the company is nearing a merger deal with T-Mobile US (TMUS 64.25, +0.86).
CarMax (KMX 69.90, +1.06): +1.5% after beating both top and bottom line estimates.
Finish Line (FINL 8.55, -0.67): -7.3% after missing revenue estimates.
Equifax (EFX 101.50, +3.25): +3.3% after EFX shares were upgraded to 'Outperform' from 'Market Perform' at Wells Fargo.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mostly lower note. Japan's Nikkei -0.3%, Hong Kong's Hang Seng -0.8%, China's Shanghai Composite -0.2%, India's Sensex -1.4%.
In economic data:
Japan's Foreign Bonds Buying JPY381.80 billion (last JPY198.70 billion) and Foreign Investment in Japanese Stocks -JPY918.60 billion (last -JPY644.60 billion)
In news:
North Korea's KCNA released a statement attributed to Supreme Leader Kim Jong-un, in which the country's leader responded to President Trump's speech at the UN, saying 'the highest level of countermeasure' will be considered. The statement went on, calling President Trump a 'dotard.'
Reports from South Korea indicate that North Korea's Foreign Minister said his country is considering a nuclear test over the Pacific.
Japan's Prime Minister Shinzo Abe will reportedly speak to the press on Monday. This comes amid speculation that Prime Minister Abe is preparing to call a snap election.
Standard & Poor's downgraded Hong Kong's rating to AA+ from AAA and revised its outlook to Stable from Negative.

Major European indices trade on a higher note. UK's FTSE +0.2%, Germany's DAX +0.3%, France's CAC +0.4%, Italy's MIB +0.6%.
In economic data:
Eurozone September flash Manufacturing PMI 58.2 (expected 57.1; last 57.4) and flash Services PMI 55.6 (expected 54.7; last 54.7)
Germany's September flash Manufacturing PMI 60.6 (expected 59.0; previous 59.3) and flash Services PMI 55.6 (consensus 53.8; last 53.5)
UK's September CBI Industrial Trends Orders 7 (expected 13; last 13)
France's September flash Manufacturing PMI 56.0 (expected 55.5; last 55.8) and flash Services PMI 57.1 (consensus 54.8; last 54.9). Q2 GDP +0.5% quarter-over-quarter, as expected
Spain's trade deficit widened to EUR2.10 billion from EUR1.30 billion (expected deficit of EUR1.00 billion)
In news:
British Prime Minister Theresa May will speak at Santa Maria Novella Church in Florence around 14:00 local time. In her speech, Ms. May is expected to call on the EU to make the Brexit process as smooth as possible.
In Spain, the country's federal government has called police and civil guard reinforcements to Catalonia. Reports from yesterday indicate the Spanish government hired ferries to house police and security officers in the Port of Barcelona. The independence referendum is scheduled for October 1 and Spanish markets remain unconcerned with the developments.

06:05AM ET

[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: -7.10.
06:05AM ET

[BRIEFING.COM] Nikkei

...20296.45...-51.00

...-0.30%

Hang Seng

...27880.5...-229.80

...-0.80%

06:05AM ET

[BRIEFING.COM]

FTSE...7265.64...+1.70...+0.00%

DAX...12619.56...+19.50...+0.20%

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

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

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

Image TheStrategyLab Review @ http://www.thestrategylab.com/thestrategylab-reviews.htm

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. Also, thank you for the review of TheStrategyLab performance record...hopefully the links will be useful for you. gm

Best Regards,
M.A. Perry
Online user name wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading
Trader and Founder of WRB Analysis (wide range body/bar analysis)
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