TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 7:46 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: October 2nd Monday Trade Results - Profit $800.00
PostPosted: Tue Oct 03, 2017 9:25 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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
TheStrategyLab Reviews: http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)

Attachment:
100217-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+800.00.png
100217-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+800.00.png [ 95.84 KiB | Viewed 309 times ]

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 @ $800.00 dollars or +16.00 points, Light Crude Oil CL ($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 @ $800.00 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=172&t=2661

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=331&t=3532 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.

Attachment:
100217-Key-Price-Action-Markets.png
100217-Key-Price-Action-Markets.png [ 1.07 MiB | Viewed 321 times ]

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


The Market at 04:30PM ET
Dow: +152.51… | Nasdaq: +20.76… | S&P: +9.76…
NASDAQ Vol: 1.94 bln… Adv: 1761… Dec: 824…
NYSE Vol: 753.9 mln… Adv: 1900… Dec: 1035…

Moving the Market

Continued buying momentum following last week's run to record highs

Energy stocks slide in tandem with the price of crude oil

Influential financials and health care sectors outperform

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

[BRIEFING.COM] The stock market kicked off the week with yet another solid performance that left the Dow (+0.7%), the S&P 500 (+0.4%), the Nasdaq (+0.3%), and the small-cap Russell 2000 (+1.3%) at new record highs. Monday's advance marked the third-consecutive record high close for the S&P 500 and the seventh in a row for the Russell 2000.

Although the market largely shook off Sunday night's massive shooting in Las Vegas, it was the main topic of conversation in the financial media on Monday. From the 32nd floor of the Mandalay Bay Resort, a lone gunman took aim--firing across the Las Vegas Strip--at a country music concert, killing at least 58 people and injuring over 500 others.

Market participants took the devastating attack, which is the deadliest shooting in U.S. history, as an isolated incident given that authorities do not believe the gunman was connected to any militant groups. MGM Resorts (MGM 30.77, -1.82), which owns and operates Mandalay Bay, did sell off sharply, however, settling with a loss of 5.6%.

On Wall Street, financial and health care stocks were in demand on Monday, helping to alleviate relative weakness from mega-cap names like Apple (AAPL 153.81, -0.31), Alphabet (GOOGL 967.47, -6.25), and Amazon (AMZN 959.19, -2.16)--all three of which have paced the stock market's 2017 campaign thus far.

The heavily-weighted financial (+0.9%) and health care (+1.0%) sectors finished just a tick behind the lightly-weighted materials sector (+1.1%) at the top of the day's leaderboard. The financial sector's positive performance was particularly notable as it extended the group's September rally; financials have climbed 9.4% since September 7.

At the opposite end of the leaderboard, the real estate (-0.4%), consumer staples (-0.2%), and telecom services (-0.1%) groups finished with modest losses. The energy space (unch) also settled in the red as the price of crude oil dropped 2.1% to $50.58/bbl following reports of decreased OPEC production-cut compliance.

A strengthening U.S. dollar also worked against the commodity; the U.S. Dollar Index climbed 0.6% to 93.47. The greenback was particularly strong against the euro, jumping 0.7% to 1.1735, following Sunday's contentious independence referendum in Spain.

The people of Catalonia overwhelmingly voted to split from Spain on Sunday, but Prime Minister Mariano Rajoy refused to acknowledge the vote, which was outlawed by the central government in Madrid. Reports indicate that nearly 900 voters were injured by police, who attempted to shut down polling stations in the region.

In the U.S. bond market, Treasuries finished Monday modestly lower, sending yields into the green. The 10-yr yield climbed one basis point to 2.34%.

Reviewing Monday's economic data, which included the September ISM Index and August Construction Spending:

The ISM Index for September rose to 60.8 from an unrevised reading of 58.8 in August while the Briefing.com consensus expected a downtick to 57.8.
The key takeaway from the report, which stands at its highest level since May 2004, is that it was accompanied by the highest reading for the Prices Index (71.5) since May 2011. That understanding will feed a belief that the Federal Reserve is apt to raise the fed funds rate again at its December FOMC meeting.
The Construction Spending report for August rose 0.5% while the Briefing.com consensus expected an increase of 0.2%. The prior month's reading was revised to -1.2% from -0.6%.
The key takeaway from the report is that overall construction spending remains modest and an inhibitor of stronger real GDP growth.

On Tuesday, the economic calendar will be limited to auto and truck sales for the month of September, which will be released throughout the day.

Nasdaq Composite +21.1% YTD
Dow Jones Industrial Average +14.1% YTD
S&P 500 +13.0% YTD
Russell 2000 +11.2% YTD

Dow: +152.51… | Nasdaq: +20.76… | S&P: +9.76…

NASDAQ Adv/Dec 1761/824. …NYSE Adv/Dec 1900/1035.

03:30PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.89% at 83.7066
Dollar index is up 0.55% at 93.59.
Nov WTI crude is lower on the day.
Futures settled $1.08 lower to $50.60/barrel.
In other energy, Nov natural gas settled lower $0.082 at $2.925/MMBtu
On to metals:
Dec gold lost $8.80 to settle at $1275.90/oz, while Sept silver dropped $0.03 to $16.65/oz
Dec copper gained $0.01 to $2.96/lb
Finally, agriculture:
Dec corn settled $0.04 lower at $3.52/bu.
Nov soy settled down $0.11 at $9.57/bu.
Dec wheat settled down $0.04 at $4.45/bu.

Dow: +137.65… | Nasdaq: +15.34… | S&P: +8.05…

NASDAQ Adv/Dec 1869/835. …NYSE Adv/Dec 1881/1052.

03:05PM ET

[BRIEFING.COM] All three major averages are on track to settle Monday's session at new record highs moving into the final stretch. The S&P 500 is up 0.3%.

The heavily-weighted financial sector (+0.9%) continues picking up strength this afternoon, with large-cap names like Goldman Sachs (GS 240.61, +3.42), JPMorgan Chase (JPM 96.78, +1.27), and Citigroup (C 73.67, +0.93) pacing the advance. Today's rally places the sector 9.2% above its closing level on September 7 and at its best level since late 2007.

Meanwhile, the top-weighted technology sector (+0.1%) has struggled today, extending a recent bout of weakness; the technology group is unchanged from where it settled on September 19. Some of the sector's top components by market cap, including Apple (AAPL 153.69, -0.44), Facebook (FB 169.97, -0.92), and Alphabet (GOOGL 966.22, -7.50), currently show losses between 0.3% and 0.8%.

Still, for the year, the technology space (+26.1% YTD) trades comfortably ahead of the S&P 500 (+12.9% YTD) while the financial space (+11.9% YTD) lags.

Dow: +142.12… | Nasdaq: +16.03… | S&P: +8.46…

NASDAQ Adv/Dec 1895/854. …NYSE Adv/Dec 1851/1069.

02:25PM ET

[BRIEFING.COM] The Dow (+0.6%) is leading the S&P 500 (+0.3%) by a comfortable margin while the Nasdaq (+0.1%) underperforms.

Intel (INTC 38.93, +0.86) is the strongest Dow component today, extending its recent rally; INTC shares have surged 10.6% since September 8. For comparison, the S&P 500 has added just 2.6% over the same period of time.

As a whole, chipmakers have soundly outperformed the broader market this year, evidenced by the PHLX Semiconductor Index (+29.8% YTD), but Intel has not. The company's recent run has helped, but INTC shares still hold a relatively modest year-to-date gain of 7.3%.

Despite, Intel's positive performance today, the top-weighted technology sector (unch) trades behind the broader market.

Dow: +130.73… | Nasdaq: +8.78… | S&P: +7.07…

NASDAQ Adv/Dec 1858/896. …NYSE Adv/Dec 1855/1062.

02:00PM ET

[BRIEFING.COM] Stocks have been ticking higher as of late, sending the S&P 500 (+0.3%) back toward its best mark of the day.

Transports are struggling today, evidenced by the Dow Jones Transportation Average, which is down 0.5%. Railroads are among the DJTA's weakest components after Morgan Stanley downgraded CSX (CSX 52.53, -1.73) to 'Underweight' from 'Equal-Weight' this morning; CSX shares are down 3.0%. JB Hunt Transport (JBHT 108.52, -2.56) also exhibits particular weakness, showing a loss of 2.3%.

Despite today's slip, the DJTA still hovers near its record-high close (9,914.35), which it just posted on Friday.

Dow: +131.09… | Nasdaq: +11.65… | S&P: +7.87…

NASDAQ Adv/Dec 1885/869. …NYSE Adv/Dec 1911/994.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to bolster strong gains to kick off the trading week and the fourth quarter.

A look inside the Dow Jones Industrial Average shows that Intel (INTC 38.86, +0.78), Walt Disney (DIS 100.07, +1.50), & General Electric (GE 24.54, +0.36) are outperforming. Intel is gaining amid notable options activity today, while Disney is advancing after the company and Altice USA (ATUS 27.64, +0.33) reached an agreement following contract negotiations, avoiding a blackout of ESPN and other channels.

Conversely, Apple (AAPL 153.26, -0.86) is the worst-performing Dow component.

At current levels, the DJIA is up 13.97% this year.

Dow: +116.75… | Nasdaq: +9.80… | S&P: +6.91…

NASDAQ Adv/Dec 1859/916. …NYSE Adv/Dec 1834/1042.

01:05PM ET

[BRIEFING.COM] Equities have advanced to new record highs today, despite last night's devastating shooting in Las Vegas--which marked the deadliest in U.S. history. The major averages have come down from their best marks of the day, but still trade higher across the board with the S&P 500 sporting a gain of 0.3%. Small caps outperform, sending the Russell 2000 higher by 0.6%.

MGM Resorts (MGM 31.02, -1.57), which owns and operates the hotel from which the shooter took aim at a massive crowd of people, is down 4.6%, but, on the whole, investors have largely shook off the disastrous event, seeing it as an isolated incident with little economic impact. The death toll is at 58 while the number of injured is over 500.

Most of the S&P 500's 11 sectors are trading in positive territory this afternoon, but the top-weighted technology sector (-0.1%) is not, which has been a major drag on the broader market. The technology space got off to a good start, holding a gain of 0.4% at its best mark of the day, but petered out a couple hours after the opening bell.

The energy sector (-0.2%) is also a notable laggard, moving lower in tandem with the price of crude oil, which is down 2.2% at $50.53/bbl. WTI crude has suffered following reports of decreased production-cut compliance among OPEC nations and amid a strengthening dollar; the U.S. Dollar Index is up 0.5% at 93.39.

However, on a positive note, the influential financials (+0.6%) and health care (+0.7%) sectors are outperforming and currently trade at the top of the sector standings. Within the health care space, biotech names have exhibited particular strength, sending the iShares Nasdaq Biotechnology ETF (IBB 336.68, +3.09) higher by 0.9%.

In the bond market, shorter-dated issues are lower while longer-dated issues are flat; the 2-yr yield is up three basis points at 1.50% while the 10-yr yield is unchanged at 2.33%.

Spain's IBEX settled Monday's session with a loss of 1.4% following yesterday's Catalonia referendum, which ended with 90% of voters favoring independence from the central government in Madrid. Prime Minister Mariano Rajoy refused to acknowledge the referendum, which the central government banned, and reports indicate that nearly 900 voters were injured by police--who were instructed to bar voters from the ballot boxes.

However, most other major European bourses finished Monday's session in the green, including the UK's FTSE (+0.9%), Germany's DAX (+0.5%), France's CAC (+0.3%).

Reviewing Monday's economic data, which included the September ISM Index and August Construction Spending:

The ISM Index for September rose to 60.8 from an unrevised reading of 58.8 in August while the Briefing.com consensus expected a downtick to 57.8.
The key takeaway from the report, which stands at its highest level since May 2004, is that it was accompanied by the highest reading for the Prices Index (71.5) since May 2011. That understanding will feed a belief that the Federal Reserve is apt to raise the fed funds rate again at its December FOMC meeting.
The Construction Spending report for August rose 0.5% while the Briefing.com consensus expected an increase of 0.2%. The prior month's reading was revised to -1.2% from -0.6%.
The key takeaway from the report is that overall construction spending remains modest and an inhibitor of stronger real GDP growth.

Dow: +111.79… | Nasdaq: +8.52… | S&P: +6.76…

NASDAQ Adv/Dec 1843/943. …NYSE Adv/Dec 1839/1040.

12:25PM ET

[BRIEFING.COM] The major averages are hovering near their recent levels with the S&P 500 still sporting a loss of 0.2%.

Spain's IBEX settled Monday's session with a loss of 1.4% following yesterday's Catalonia referendum, which ended with 90% of voters favoring independence from the central government in Madrid. Prime Minister Mariano Rajoy refused to acknowledge the referendum, which the central government banned, and reports indicate that nearly 900 voters were injured by police--who were instructed to bar voters from the ballot boxes.

However, most other major European bourses finished Monday's session in the green, including the UK's FTSE (+0.9%), Germany's DAX (+0.5%), France's CAC (+0.3%). Meanwhile, the euro is down 0.6% against the U.S. dollar to 1.1744.

Dow: +94.04… | Nasdaq: +3.77… | S&P: +5.55…

NASDAQ Adv/Dec 1788/999. …NYSE Adv/Dec 1778/1091.

11:55AM ET

[BRIEFING.COM] Equity indices are hovering near their recent levels; the Dow, the S&P 500, and the Nasdaq hold gains of 0.4%, 0.2%, and 0.1%, respectively.

The heavily-weighted financial sector (+0.5%) has been strengthening over the last 30 minutes of action and now challenges the health care sector (+0.7%) for the top spot on today's leaderboard. Large-cap financial names like Bank of America (BAC 15.61, +0.27) and Citigroup (C 73.81, +1.08) lead the rally, sporting gains of more than 1.0% apiece.

In Las Vegas, local authorities have increased the number of casualties in last night's shooting to 58 and the number of injured to 515. MGM Resorts (MGM 31.02, -1.57), which owns and operates the hotel from which the shooter took aim, is down 5.3%, hovering at a fresh session low.

Dow: +80.46… | Nasdaq: +6.56… | S&P: +5.06…

NASDAQ Adv/Dec 1800/1003. …NYSE Adv/Dec 1699/1159.

11:30AM ET

[BRIEFING.COM] The major U.S. indices have ticked down since the last update. The S&P 500 now shows a gain of just 0.2%.

Chipmakers are outperforming this morning, evidenced by the PHLX Semiconductor Index, which is up 0.6%. Dow component Intel (INTC 38.71, +0.62) is among the strongest semiconductor names, sporting a gain of 1.6% and helping the top-weighted technology sector (+0.3%) trade ahead of the broader market. Today's advance extends Intel's five-week gain to 11.7%.

Meanwhile, Dow components Chevron (CVX 116.47, -1.03) and Exxon Mobil (XOM 81.44, -0.54) underperform, showing respective losses of 0.9% and 0.6%. The two names have struggled amid a big drop in the price of crude oil, which is down 3.0% at $50.11/bbl. Unsurprisingly, the energy sector (-0.8%) trades at the bottom of the sector standings.

Crude oil's drop follows reports of decreased production-cut compliance among OPEC nations. Today's negative performance has also been fueled by a strengthening U.S. dollar--the U.S. Dollar Index is up 0.6% at 93.46--and an increase in U.S. oil rigs for the first time in seven weeks.

Dow: +55.42… | Nasdaq: +16.74… | S&P: +3.79…

NASDAQ Adv/Dec 1674/1130. …NYSE Adv/Dec 1544/1307.

10:55AM ET

[BRIEFING.COM] Equity indices are trading modestly higher this morning, with the S&P 500 sporting a gain of 0.3%.

The heavily-weighted health care sector (+0.8%) has led today's rally thus far, bouncing back from two straight weeks of relative weakness--during which the sector dropped 1.0%. Biotechnology names are showing particular strength, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 338.15, +4.56), which is up 1.4%. Today's advance places the IBB at a 17-month high.

President Trump is currently speaking on last night's shooting in Las Vegas, which left over 50 dead and more than 400 injured. The shooting is the deadliest in U.S. history.

Dow: +49.82… | Nasdaq: +24.02… | S&P: +5.95…

NASDAQ Adv/Dec 1834/946. …NYSE Adv/Dec 1671/1162.

10:50AM ET

[BRIEFING.COM] Commodities begin the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 1% at 83.6265
Dollar index is currently up 0.47% at 93.52.
Oct WTI crude is down on the day.
Futures are $1.29 lower to $50.38/barrel.
In other energy, Oct natural gas is down $0.095 at $2.912/MMBtu
Metals are lower:
Dec gold lost $6.30 and trades at $1278.50/oz, while Sept silver dropped $0.004 to $16.68/oz
Sept copper lost $0.013 to $2.942/lb
Finally, agriculture:
Dec corn is down $0.03 at $3.522/bu.
Nov soy is down $0.0975 at $9.585/bu.
Dec wheat is down $0.0725 at $4.41/bu.

Dow: +58.88… | Nasdaq: +28.66… | S&P: +6.97…

NASDAQ Adv/Dec 1859/939. …NYSE Adv/Dec 1690/1133.

10:05AM ET

[BRIEFING.COM] The major averages are currently drifting a step above their unchanged marks.

Just in, the ISM Index for September rose to 60.8 from an unrevised reading of 58.8 in August while the Briefing.com consensus expected a downtick to 57.8.

Separately, the Construction Spending report for August rose 0.5% while the Briefing.com consensus expected an increase of 0.2%. The prior month's reading was revised to -1.2% from -0.6%.

Dow: +62.58… | Nasdaq: +18.53… | S&P: +4.59…

NASDAQ Adv/Dec 1759/942. …NYSE Adv/Dec 1571/1169.

09:40AM ET

[BRIEFING.COM] The major U.S. indices are trading slightly higher in early action; the benchmark S&P 500 is up 0.1%.

Most sectors hover in positive territory, but gains have been limited thus far. The top-weighted technology group currently hovers at the top of the sector standings with a modest gain of 0.3%. On the flip side, the energy sector has dropped 1.0%, moving in tandem with the price of crude oil, which is down 2.6% at $50.31/bbl.

Both of today's economic reports--the September ISM Index (Briefing.com consensus 57.8) and August Construction Spending (Briefing.com consensus 0.2%)--will be released shortly at 10:00 ET.

Dow: +28.10… | Nasdaq: +12.11… | S&P: +1.77…

NASDAQ Adv/Dec 1421/1184. …NYSE Adv/Dec 1386/1259.

09:16AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +7.10.

The stock market is on track to open Monday's session with a slim gain; the S&P 500 futures trade one point above fair value.

Equity futures have been undeterred by the deadliest shooting in U.S. history, which occurred last night on the Las Vegas strip. The alleged gunman, who has not been connected to any militant groups, fired upon a country music concert from the 32nd floor of the Mandalay Bay Resort, killing more than 50 and injuring at least 200 others.

Shares of MGM Resorts (MGM 31.10, -1.48), which owns and operates Mandalay Bay, are down 4.5% in pre-market action.

Elsewhere on the corporate front, Nordstrom (JWN 44.30, -2.85) is down 6.0% this morning following a NY Post report that talks to take the company private are in danger of falling apart. Railroad names CSX (CSX 53.29, -0.97) and Union Pacific (UNP 115.70, -0.27) are also lower after Morgan Stanley downgraded both companies' shares earlier this morning.

In Europe, the people of Catalonia overwhelmingly voted to split from Spain on Sunday, but Prime Minister Mariano Rajoy has refused to acknowledge the referendum, which was outlawed by the central government in Madrid. Reports indicate that nearly 900 voters were injured by police, who attempted to shut down the vote.

However, outside of Spain's IBEX (-1.8%), most European bourses have taken the vote in stride; the UK's FTSE (+0.6%), Germany's DAX (+0.2%), and France's CAC (+0.1%) are all trading in the green. The euro is down 0.5% against the U.S. dollar at 1.1757 while Spain's 10-yr yield is up eight basis points at 1.69%.

U.S. Treasuries are mixed this morning with longer-dated issues showing relative strength; the yield on the benchmark 10-yr Treasury note is down one basis point at 2.32%. Investors will receive two pieces of economic data today--the September ISM Index (Briefing.com consensus 57.8) and August Construction Spending (Briefing.com consensus 0.2%)--both of which will be released at 10:00 ET,

Also of note, President Trump is scheduled to speak on government regulation at 11:00 ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.60. Nasdaq futures vs fair value: +8.60.

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

Equity indices in the Asia-Pacific region began the week on a higher note, but trading volume was considerably lower than usual due to holiday closures in China, Hong Kong, South Korea, and India. Markets in China and South Korea will be closed throughout the week while Hong Kong's Hang Seng will be closed again on Thursday. The People's Bank of China announced that the reserve requirement ratio for most banks will be cut by between 50 and 150 basis points. The cut will not go into effect until next year. Markets in the region did not show much reaction to the independence referendum in Catalonia, which will deepen the rift between Catalan leaders and Madrid.

In economic data:
China's September Manufacturing PMI 52.4 (expected 51.5; last 51.7) and Non-Manufacturing PMI 55.4 (last 53.4). September Caixin Manufacturing PMI 51.0 (expected 51.5; last 51.6)
Australia's September AIG Manufacturing Index 54.2 (last 59.8). MI Inflation Gauge +0.3% month-over-month (last 0.1%)
Japan's Q3 Tankan Large Manufacturers Index 22 (expected 18; last 17) and Large Non-Manufacturers Index 23, as expected (last 23). Q3 Tankan All Big Industry CAPEX +7.7% (expected 8.3%; last 8.0%). September Manufacturing PMI 52.9 (expected 52.6; last 52.6)
South Korea's September trade surplus KRW13.80 billion (last surplus of KRW6.60 billion). September Imports +21.7% year-over-year (last 15.3%) and September Exports +35.0% year-over-year (last 17.3%). September CPI +0.1% month-over-month (last 0.6%); +2.1% year-over-year (consensus 2.4%; last 2.6%). September Nikkei Manufacturing PMI 50.6 (expected 50.3; last 49.9)
Singapore's Q3 URA Property Index +0.5% quarter-over-quarter (last -0.1%)

---Equity Markets---

Japan's Nikkei added 0.2%. Yokohama Rubber, IHI, Japan Steel Works, Fanuc, Nippon Meat Packers, DeNA, Yaskawa Electric, Familymart, Asahi Glass, Olympus, and Ricoh advanced between 1.2% and 3.2%. On the downside, Nissan Motor lost 2.7% after recalling more than a million vehicles in Japan. Yahoo Japan, Yamato Holdings, and TDK lost between 1.3% and 2.1%.
Hong Kong's Hang Seng was closed for National Day.
China's Shanghai Composite was closed for National Day.
India's Sensex was closed for Gandhi Jayanti.

Major European indices trade mostly higher while Spain's IBEX (-1.6%) underperforms following yesterday's independence referendum in Catalonia. The referendum produced an overwhelming 'yes' vote, as 90.0% of voters favored independence, however, the turnout was only about 40.0%. Reports indicate that nearly 900 voters were injured by police. Spain's Prime Minister Mariano Rajoy refused to acknowledge the referendum while the European Commission said this is an internal matter to be dealt with by Spain's central government. The Catalan parliament is on track to declare independence by Wednesday. Spain's 10-yr yield has jumped eight basis points to 1.69% while the euro (1.1758) has given up about 60 pips against the dollar.

In economic data:
Eurozone August Unemployment Rate 9.1% (expected 9.0%; last 9.1%) and September Manufacturing PMI 58.1 (expected 58.2; last 58.2)
Germany's September Manufacturing PMI 60.6, as expected (last 60.6)
UK's September Manufacturing PMI 55.9 (consensus 56.4; last 56.7)
France's September Manufacturing PMI 56.1 (expected 56.0; last 56.0)
Italy's September Manufacturing PMI 56.3 (consensus 56.8; last 56.3)
Spain's September Manufacturing PMI 54.3 (consensus 53.0; last 52.4)
Swiss August Retail Sales -0.2% year-over-year (consensus 0.5%: last -0.7%) and September SVME PMI 61.7 (expected 60.6; last 61.2)

---Equity Markets---

France's CAC is up 0.1% amid gains in more than half of its components. STMicroelectronics, ArcelorMittal, TechnipFMC, Peugeot, Safran, Kering, and Accor show gains between 0.4% and 2.4%. Financials lag with AXA, BNP Paribas, and Societe Generale displaying losses between 0.1% and 0.3%.
Germany's DAX trades up 0.2%. Lufthansa leads with a gain of 3.2% while Adidas, Infineon, SAP, Merck, Daimler, and BMW are up between 0.2% and 2.0%. On the downside, Deutsche Bank and Commerzbank are both down near 0.9%.
UK's FTSE has climbed 0.6%. EasyJet leads with a gain of 4.6% after discount carrier Monarch Airlines declared bankruptcy. Homebuilders Barratt Developments, Persimmon, and Taylor Wimpey sport gains between 1.8% and 3.7%. Conversely, Barclays, RSA Insurance, Lloyds Banking, and RBS are down between 0.3% and 0.9%.
Spain's IBEX has slid 1.6% with financials leading the retreat. Banco Sabadell, Caixabank, BBVA, Santander, Bankia, and Bankinter are down between 1.7% and 6.3%.


08:25AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +12.60.

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

Today's economic calendar will feature the September ISM Index (Briefing.com consensus 57.8) and the Construction Spending Report for August (Briefing.com consensus 0.2%), both of which will be released at 10:00 ET. The most notable report of the week will undoubtedly be the September Employment Situation Report (Briefing.com consensus 75K), which will be released on Friday.

On the earnings front, several notable companies will report this week, including PepsiCo (PEP 110.75, -0.68), Monsanto (MON 119.82, 0.00), Costco (COST 164.29, 0.00), and Constellation Brands (STZ 200.45, +1.00). PEP and MON will report on Wednesday while COST and STZ will report on Thursday.

08:01AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +14.90.

The U.S. equity market looks poised to extend last week's positive performance, which ended with new record highs for the S&P 500, the Nasdaq, and the Russell 2000 on Friday. The S&P 500 futures are trading four points, or 0.2%, above fair value while the tech-heavy Nasdaq 100 futures exhibit relative strength.

A massive Sunday night shooting on the Las Vegas strip claimed the lives of more than 50 people and injured at least 200 others. The gunman, who has since been killed by authorities, fired upon a concert from the 32nd floor of the Mandalay Bay Resort. The shooting marks the deadliest in U.S. history.

In Europe, the people of Catalonia overwhelmingly voted to split from Spain on Sunday, but Prime Minister Mariano Rajoy has refused to acknowledge the referendum, which was outlawed by the central government in Madrid. Reports indicate that nearly 900 voters were injured by police, who unsuccessfully attempted to shut down the vote.

Spain's IBEX is down 1.4% following Sunday's referendum, but most other European bourses trade in positive territory. The euro is down 0.6% against the U.S. dollar at 1.1747 while Spain's 10-yr yield has climbed nine basis points to 1.71%.

Back in the U.S., Treasuries have extended last week's sell off this morning, sending yields into positive territory; the benchmark 10-yr yield is up one basis point at 2.34% while the 2-yr yield is up two basis points at 1.49%. Meanwhile, WTI crude is down 2.3% at $50.51/bbl after settling Friday near a five-month high.

On the data front, investors will receive two pieces of economic data today--the September ISM Index (Briefing.com consensus 57.8) and August Construction Spending (Briefing.com consensus 0.2%). Both reports will be released at 10:00 ET.

In U.S. corporate news:

MGM Resorts (MGM 30.52, -2.07): -6.4% following a massive shooting on the Las Vegas strip that left more than 50 dead and 200 injured.
Nordstrom (JWN 45.00, -2.15): -4.6% following a NY Post report that talks to take the company private are in danger of falling apart.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a higher note, but trading volume was considerably lower than usual due to holiday closures in China, Hong Kong, South Korea, and India. Japan's Nikkei +0.2%.
In economic data:
China's September Manufacturing PMI 52.4 (expected 51.5; last 51.7) and Non-Manufacturing PMI 55.4 (last 53.4). September Caixin Manufacturing PMI 51.0 (expected 51.5; last 51.6)
Australia's September AIG Manufacturing Index 54.2 (last 59.8). MI Inflation Gauge +0.3% month-over-month (last 0.1%)
Japan's Q3 Tankan Large Manufacturers Index 22 (expected 18; last 17) and Large Non-Manufacturers Index 23, as expected (last 23). Q3 Tankan All Big Industry CAPEX +7.7% (expected 8.3%; last 8.0%). September Manufacturing PMI 52.9 (expected 52.6; last 52.6)
South Korea's September trade surplus KRW13.80 billion (last surplus of KRW6.60 billion). September Imports +21.7% year-over-year (last 15.3%) and September Exports +35.0% year-over-year (last 17.3%). September CPI +0.1% month-over-month (last 0.6%); +2.1% year-over-year (consensus 2.4%; last 2.6%). September Nikkei Manufacturing PMI 50.6 (expected 50.3; last 49.9)
Singapore's Q3 URA Property Index +0.5% quarter-over-quarter (last -0.1%)
In news:
The People's Bank of China announced that the reserve requirement ratio for most banks will be cut by between 50 and 150 basis points. The cut will not go into effect until next year.

Major European indices trade mostly higher while Spain's IBEX (-1.4%) underperforms following yesterday's independence referendum in Catalonia. France's CAC +0.1%, Germany's DAX +0.3%, UK's FTSE +0.5%.
In economic data:
Eurozone August Unemployment Rate 9.1% (expected 9.0%; last 9.1%) and September Manufacturing PMI 58.1 (expected 58.2; last 58.2)
Germany's September Manufacturing PMI 60.6, as expected (last 60.6)
UK's September Manufacturing PMI 55.9 (consensus 56.4; last 56.7)
France's September Manufacturing PMI 56.1 (expected 56.0; last 56.0)
Italy's September Manufacturing PMI 56.3 (consensus 56.8; last 56.3)
Spain's September Manufacturing PMI 54.3 (consensus 53.0; last 52.4)
Swiss August Retail Sales -0.2% year-over-year (consensus 0.5%: last -0.7%) and September SVME PMI 61.7 (expected 60.6; last 61.2)
In news:
The Catalonia referendum produced an overwhelming 'yes' vote, as 90.0% of voters favored independence, however, the turnout was only about 40.0%. Reports indicate that nearly 900 voters were injured by police. Spain's Prime Minister Mariano Rajoy refused to acknowledge the referendum while the European Commission said this is an internal matter to be dealt with by Spain's central government. The Catalan parliament is on track to declare independence by Wednesday.


05:56AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +6.80.
05:56AM ET

[BRIEFING.COM] Nikkei

...20401...+44.50

...+0.20%

. Hang Seng

...Holiday.........
05:56AM ET

[BRIEFING.COM] FTSE

...7421.09...+48.30

...+0.70%

. DAX

...12871.45...+42.60

...+0.30%

.
04:30PM ET

[BRIEFING.COM] Equities ended the week, and the quarter, on a positive note, sending the S&P 500 (+0.4%) higher for the fourth session in a row. The benchmark index finished at a new record high, as did the Nasdaq (+0.7%) and the Russell 2000 (+0.1%), while the Dow (+0.1%) settled about eight points short of its record mark. For the week, the S&P 500 added 0.7%.

Technology stocks were in demand on Friday, with chipmakers showing particular strength; the PHLX Semiconductor Index climbed 0.9%. Semiconductor giant NVIDIA (NVDA 178.77, +3.09) advanced 1.8% after Citigroup raised its target price to $210 from $185 while Micron Technology (MU 39.33, +1.37) did even better (+3.6%), extending its three-day post earnings gain to 15.1%.

Mega-cap tech names like Facebook (FB 170.81, +2.08) and Alphabet (GOOGL 973.72, +8.91) also outperformed, settling with respective gains of 1.2% and 0.9%.

The S&P 500's technology sector (+0.8%), which is the largest sector by weight, finished at the top of Friday's sector standings, followed closely by the also influential health care space (+0.6%). On the flip side, the energy sector (unch) showed relative weakness, but it did manage to settle at the top of the week's leaderboard with a weekly gain of 1.9%.

In corporate news, KB Home (KBH 24.12, +1.90) jumped 8.6% after reporting better-than-expected earnings and revenues for its fiscal third quarter. Similarly, Tyson Foods (TSN 70.45, +5.00) climbed 7.6% to an 11-month high after raising its guidance for the fiscal year, citing better-than-expected earnings in the beef segment of its business.

The core PCE Price Index--which is the Fed's preferred gauge of inflation--came in below expectations, showing a month-over-month increase of 0.1% in August (Briefing.com consensus +0.2%). On a year-over-year basis, the index is up 1.3%, down from 1.4% in the prior reading, and still a ways below the Fed's target of 2.0%.

Despite the cooler-than-expected PCE reading, investors did not adjust their rate-hike expectations; the fed funds futures market still points to the December FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 77.9%, up slightly from Thursday's 77.5%.

U.S. Treasuries sold off on Friday, securing their third-consecutive weekly decline. The yield on the benchmark 10-yr Treasury note climbed two basis points to 2.33%. Meanwhile, the U.S. Dollar Index settled a tick below its flat line at 92.89 to finish the week with a gain of 1.0%.

In Washington, President Trump said he plans to make a decision on who will become the next Fed Chair sometime in the next 2-3 weeks. Reports indicate that current Fed Chair Janet Yellen and former Fed Governor Kevin Warsh are the front runners for the appointment.

Also of note, the Catalan independence referendum remains scheduled for Sunday despite stern opposition from the Spanish central government.

Reviewing Friday's economic data, which included August Personal Income, Personal Spending, and core PCE Prices, September Chicago PMI, and the final reading of the University of Michigan Consumer Sentiment Index for September:

Personal income ticked up 0.2% in August (Briefing.com consensus +0.2%) after a revised reading of 0.3% for July (from 0.4%). Personal spending rose 0.1% (Briefing.com consensus +0.1%), while the prior month's reading was left unrevised at 0.3%. The core PCE Price Index, which excludes food and energy, increased 0.1% (Briefing.com consensus +0.2%). Year-over-year, the core PCE Price Index is up 1.3%.
The key takeaway from the report is that it was more of the same: weak income growth, disappointing spending growth, and continued "lowflation."
Chicago PMI for September hit 65.2 (Briefing.com consensus 58.0), up from 58.9 in August.
The key takeaway from the report is that the Order Backlogs Index hit a 29-year high, suggesting production levels should remain robust barring a marked increase in order cancellation rates.
The final reading of the University of Michigan Consumer Sentiment Index for September remained at 95.1 (Briefing.com consensus 95.4), unchanged from the preliminary reading.
The key takeaway from the report is that consumer sentiment held up despite rising (geo)political uncertainty and the impact of the hurricanes that hit Texas and Florida.

On Monday, investors will receive two pieces of economic data--the September ISM Index (Briefing.com consensus 57.8) and August Construction Spending (Briefing.com consensus 0.2%). Both reports will be released at 10:00 ET.

Nasdaq Composite +20.7% YTD
Dow Jones Industrial Average +13.4% YTD
S&P 500 +12.5% YTD
Russell 2000 +9.9% YTD

Week In Review: Reflation Trade Returns

Enticed by the idea of a tax overhaul, investors pushed equities higher once again this week, sending the S&P 500 (+0.7%), the Nasdaq (+1.1%), and the small-cap Russell 2000 (+2.8%) to new record highs. The Dow lagged this week, but still managed to eke out a modest gain (+0.3%). The S&P 500 finished the third quarter with a gain of 4.0%.

Technology stocks weighed on the broader market on Monday as investors engaged in a sector rotation trade that left the S&P 500's technology sector lower by 1.4%. Technology names were weak from the jump, but selling accelerated following comments from North Korea's foreign minister, who said that President Trump effectively declared war against North Korea in his U.N. speech last week and, therefore, Pyongyang has the right to take countermeasures against the U.S.--including shooting down U.S. strategic bombers, even if they're not in North Korean airspace.

Investors turned their attention to Fed Chair Janet Yellen on Tuesday as she gave a speech entitled "Inflation, Uncertainty, and Monetary Policy" at the NABE's annual meeting. Ms. Yellen defended a gradual path of rate hikes despite continued uncertainty in the area of inflation, but her comments didn't move the financial markets; equities finished the session flat.

Things turned around for the equity market on Wednesday as investors cheered the GOP's tax reform outline, sending equities into positive territory for the week. Some of the most notable highlights of the plan include cutting the corporate tax rate to 20% from 35%, doubling the standard deduction, and reducing the number of tax brackets to three from seven. The plan calls for trimming the highest tax rate to 35.0% from 39.6%, but Congress will have the option to add a fourth bracket for the very top earners.

Details on how the government will make up for the immediate loss in tax revenue were limited. This topic will likely be an area of contention for the GOP going forward as many conservatives are opposed to the idea of driving up the federal deficit, which would probably be necessary to fund the tax overhaul--at least in the short term.

Market-moving headlines were scarce on Thursday, but that didn't prevent the S&P 500 from ticking up and registering a new record close. Roku (ROKU) opened for trading on the Nasdaq exchange on Thursday and had a solid first day, settling 67.9% above its IPO price of $14.00 per share.

Investors pushed stocks higher once again on Friday after the core PCE Price Index--the Fed's preferred gauge for inflation--for August came in below expectations, showing a month-over-month increase of 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, the core PCE Price Index is up 1.3%, down from 1.4% in the prior reading, and still a ways below the Fed's target of 2.0%.

Still, the fed funds futures market projects that the next rate hike will occur at the December FOMC meeting with an implied probability of 77.9%, up from 72.8% last week.

Dow: +23.89… | Nasdaq: +42.51… | S&P: +9.30…

NASDAQ Adv/Dec 1475/1161. …NYSE Adv/Dec 1787/1151.

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)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr