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 2:32 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: October 4th Wednesday Trade Results - No Trades
PostPosted: Thu Oct 05, 2017 8:18 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)

Quote:
No trades today for me. I had too many personal errands to do today.

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 is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=172&t=2663

All of my trades are posted real-time at the above link for today's archive chat log in the timestamp ##TheStrategyLab free chat room via the user name wrbtrader for anyone to do a real-time review. Although the trades are posted by me and other users of WRB Analysis...this is not a signal calling chat room. My own live trades are posted within 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.

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 nor do we allow the free chat room to be used for mentoring because we do not offer a mentoring service. TheStrategyLab purpose 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. If you join the free chat room and then you decide to not post any WRB Analysis about the price action or you decide to not post your trades or you decide to be silent (lurk without saying a word about today's markets)...you're not using the free chat room properly to help improve your trading.

In fact, we do not want silent (lurkers) traders to join the free chat room unless they are actively posting at the forum about their trading after the markets close. Access instructions for the free 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:
100417-Key-Price-Action-Markets.png
100417-Key-Price-Action-Markets.png [ 875.26 KiB | Viewed 312 times ]

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

The Market at 04:25PM ET
Dow: +19.97… | Nasdaq: +2.91… | S&P: +3.16…
NASDAQ Vol: 1.94 bln… Adv: 1369… Dec: 1277…
NYSE Vol: 735.8 mln… Adv: 1406… Dec: 1468…

Moving the Market

Investors proceed with caution as stocks hover at new all-time highs

Losses from technology & financials have been overcome with gains in most other areas

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

[BRIEFING.COM] It was a quiet day on Wall Street, but that didn't stop the stock market from eking out yet another record close. The S&P 500 (+0.1%), the Dow (+0.1%), and the Nasdaq (unch) finished where they resided throughout the majority of the session--just a tick above their flat lines. However, the Russell 2000 slipped 0.3%, breaking its streak of eight consecutive record closes.

Drugmaker Mylan (MYL 37.80, +5.27) surged 16.2% on Wednesday after the FDA approved its generic version of Teva Pharma's (TEVA 16.08, -2.74) multiple sclerosis drug Copaxone. Mylan's positive performance helped the S&P 500's influential health care sector (+0.5%) finish ahead of the broader market.

Like health care, the consumer discretionary sector (+0.5%) also outperformed on Wednesday with its top component by market cap--Amazon (AMZN 965.45, +8.35)--bouncing back from two days of losses. Netflix (NFLX 184.45, +5.26) also had a solid showing after UBS raised its target price to $225 from $190. AMZN and NFLX shares added 0.9% and 2.9%, respectively.

The majority of the S&P 500's 11 sectors finished in the green, however, the two most influential groups--technology and financials--did not.

Mega-cap names like Apple (AAPL 153.48, -1.00, -0.7%), Facebook (FB 168.42, -1.54, -0.9%), and Alphabet (GOOGL 966.78, -5.30, -0.6%) weighed on the tech space, overpowering gains from smaller components. Chipmakers managed to settle slightly ahead of the broader market though, evidenced by the PHLX Semiconductor Index (+0.2%).

As for financials, banks like JPMorgan Chase (JPM 96.36, -0.99) and Wells Fargo (WFC 54.96, -0.62) led the retreat, dropping around 1.0% apiece.

The energy sector (-0.1%) finished lower as well, weighed down by the price of crude oil--which dipped below $50.00/bbl despite an upbeat EIA inventory report; the Energy Information Administration reported that U.S. crude inventories declined by 6.0 million barrels (consensus -0.5 million barrels) for the week ended September 29.

In the bond market, U.S. Treasuries finished roughly flat with shorter-dated issues showing relative strength; the yield on the 2-yr Treasury note slipped one basis point to 1.47%. Meanwhile, the benchmark 10-yr yield settled unchanged at 2.33%.

Fed Chair Janet Yellen did speak on Wednesday, but made no mention of monetary policy.

Reviewing Wednesday's economic data, which included the September ADP Employment Change Report, the September ISM Services Index, and the weekly MBA Mortgage Applications Index:

The ADP National Employment Report showed an increase of 135,000 in September (Briefing.com consensus 160,000) while the August reading was revised lower to 228,000 from 237,000.
The ISM Services Index for September rose to 59.8 from an unrevised reading of 55.3 in August. The Briefing.com consensus expected a reading of 55.3.
The key takeaway from the report is that it gives the Federal Reserve some data-based ammunition to raise the fed funds rate in December since the Prices Index increased substantially and hit its highest level since February 2012, mirroring a big jump as well in the Prices Index for the ISM Manufacturing report.
The weekly MBA Mortgage Applications Index decreased 0.4% to follow last week's 0.5% decline.

On Thursday, investors will receive the weekly Initial Claims Report (Briefing.com consensus 265K) at 8:30 ET, the August Trade Balance (Briefing.com consensus -$42.6 billion) also at 8:30 ET, and August Factory Orders (Briefing.com consensus +1.0%) at 10:00 ET.

Nasdaq Composite +21.4% YTD
Dow Jones Industrial Average +14.7% YTD
S&P 500 +13.4% YTD
Russell 2000 +11.1% YTD

Dow: +19.97… | Nasdaq: +2.91… | S&P: +3.16…
NASDAQ Adv/Dec 1369/1277. …NYSE Adv/Dec 1406/1468.

03:25PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.26% at 83.9563
Dollar index is down 0.11% at 93.46.
Energy:
Following petroleum EIA data, crude futures spiked a bit and then plummeted and seem to have found support at the $50 area.
Crude oil inventories had a draw of 6 mln barrels
November WTI crude settled $0.43 lower to $49.99/barrel.
Nov natural gas settled up $0.04 at $2.94/MMBtu
On to metals:
Dec gold gained $2.10 to settle at $1276.70X/oz, while Sept silver dropped $0.02 to $16.63/oz
Dec copper settled flat at $2.96/lb
Finally, agriculture:
Dec corn settled $0.01 lower at $3.48/bu.
Nov soy settled $0.02 higher at $9.58/bu.
Dec wheat settled $0.06 lower at $4.42/bu.

Dow: +24.87… | Nasdaq: +3.27… | S&P: +3.63…
NASDAQ Adv/Dec 1452/1301. …NYSE Adv/Dec 1396/1472.

02:55PM ET

[BRIEFING.COM] The stock market is slightly higher as the closing bell approaches, on track to post yet another record close.

Moving into the final stretch, six sectors trade in the green--utilities (+0.8%), real estate (+0.7%), consumer discretionary (+0.5%), health care (+0.4%), consumer staples (+0.4%), and materials (unch)--while five groups trade in the red--telecom services (unch), industrials (-0.1%), financials (-0.2%), technology (-0.2%), and energy (-0.3%).

As a reminder, Fed Chair Janet Yellen will speak at a community banking conference hosted by the Federal Reserve Bank of St. Louis at 15:15 ET.
Dow: +25.94… | Nasdaq: +0.61… | S&P: +2.98…
NASDAQ Adv/Dec 1439/1330. …NYSE Adv/Dec 1384/1482.

02:25PM ET

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

Automotive retailers have tumbled today after Raymond James downgraded Advance Auto (AAP 95.00, -3.98) to 'Market Perform' from 'Strong Buy' this morning. AAP shares have lost 4.0% while peers like O'Reilly Auto (ORLY 211.76, -2.19) and AutoZone (AZO 594.25, -5.30) hold losses of around 1.0% apiece.

Thanks in part to automotive retailers' poor showing, the SPDR S&P Retail ETF (XRT 41.64, -0.26) is down 0.6%.

Meanwhile, the consumer discretionary sector, which houses the aforementioned automotive retailers, trades ahead of the broader market, sporting a gain of 0.5%. Only the utilities (+0.8%) and real estate (+0.6%) groups hold larger gains than the consumer discretionary space.
Dow: +18.99… | Nasdaq: -4.33… | S&P: +1.61…
NASDAQ Adv/Dec 1387/1385. …NYSE Adv/Dec 1317/1538.

02:00PM ET

[BRIEFING.COM] The major averages are mixed once again; the tech-heavy Nasdaq is down 0.1% while the S&P 500 and the Dow are up 0.1% apiece.

Alphabet (GOOGL 968.55, -3.53), the parent company of Google, unveiled a new camera--called Google Clips--in recent action, sending GoPro (GPRO 10.54, -0.56) shares sharply lower; GPRO was down 0.2% ahead of the news, but now trades lower by 4.3%.

Despite today's slide, GoPro still remains comfortably above its 50-day simple moving average (9.88), which it hasn't breached in over two months.

As a whole, technology stocks have underperformed in today's session, evidenced by the S&P 500's technology sector (-0.3%), which hovers at the bottom of the sector standings. The sector's top component by market cap--Apple (AAPL 153.36, -1.12)--has weighed, dropping 0.7%.
Dow: +28.14… | Nasdaq: -6.43… | S&P: +2.05…
NASDAQ Adv/Dec 1334/1447. …NYSE Adv/Dec 1298/1552.

01:30PM ET

[BRIEFING.COM] The major U.S. indices have seem some slight selling activity in recent trading, but still sport small gains at this time as stocks again reach fresh record highs.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 126.69, +1.18), Nike (NKE 51.95, +0.48), & 3M (MMM 216.52, +1.95) are outperforming.

Conversely, General Electric (GE 24.55, -0.25) is the worst-performing Dow component as shares display relative weakness, surrendering a portion of this weeks gains.

As stocks see a further extension of their daily move upwards to record highs, the DJIA is already up 1.19% this week.
Dow: +26.77… | Nasdaq: +0.12… | S&P: +3.21…
NASDAQ Adv/Dec 1512/1251. …NYSE Adv/Dec 1400/1430.

01:00PM ET

[BRIEFING.COM] Stocks got off to a slow start this morning, but have been ticking higher for the last two hours of action. The S&P 500 (+0.2%), the Dow (+0.2%), and the Nasdaq (+0.2%) all hold modest gains and currently trade at fresh record highs. A win today would mark the third of the week for each of the major indices.

Overall, corporate news has been pretty light today, but there are a handful of headlines worth noting. Mylan (MYL 38.58, +6.03) has spiked 18.5% after the FDA approved its generic version of Teva Pharma's (TEVA 16.34, -2.48) multiple sclerosis drug Copaxone. Conversely, TEVA shares are lower by 13.2%.

PepsiCo (PEP 109.77, +0.64) has climbed 0.6% after beating bottom-line estimates and raising its earnings guidance for the fiscal year. Meanwhile, Monsanto (MON 119.95, +0.26) has added 0.2% after beating both top and bottom line estimates and announcing that its deal to be acquired by Bayer (BAYRY 34.69, +0.64) should close by the year's end.

It's also worth pointing out that Netflix (NFLX 184.57, +5.38) has jumped 3.0% after UBS raised its target price to $225 from $190.

Most of the S&P 500's 11 sectors are trading higher this afternoon, but the top-weighted technology sector (-0.2%) has struggled to keep pace as some of its most influential components underperform, including Apple (AAPL 153.52, -0.95), Microsoft (MSFT 74.23, -0.03), and Alphabet (GOOGL 969.83, -2.12).

The energy sector (-0.3%) is also trading in the red, moving lower in tandem with the price of crude oil. WTI crude futures are down 0.9%, breaching the $50.00/bbl mark, despite an upbeat EIA inventory report, which showed a draw of 6.0 million barrels (consensus -0.5 million barrels) for the week ended September 29.

On the flip side, countercyclical sectors like health care (+0.4%), consumer staples (+0.7%), and utilities (+0.7%) are among the top performers. The cyclical consumer discretionary space (+0.5%) also exhibits notable strength.

In the bond market, U.S. Treasuries are flat, leaving the benchmark 10-yr yield unchanged at 2.33%.

Also of note, Fed Chair Janet Yellen will speak at a community banking conference hosted by the Federal Reserve Bank of St. Louis this afternoon at 15:15 ET. However, she isn't expected to say anything market moving.

Reviewing Wednesday's economic data, which included the September ADP Employment Change Report, the September ISM Services Index, and the weekly MBA Mortgage Applications Index:

The ADP National Employment Report showed an increase of 135,000 in September (Briefing.com consensus 160,000) while the August reading was revised lower to 228,000 from 237,000.
The ISM Services Index for September rose to 59.8 from an unrevised reading of 55.3 in August. The Briefing.com consensus expected a reading of 55.3.
The key takeaway from the report is that it gives the Federal Reserve some data-based ammunition to raise the fed funds rate in December since the Prices Index increased substantially and hit its highest level since February 2012, mirroring a big jump as well in the Prices Index for the ISM Manufacturing report.
The weekly MBA Mortgage Applications Index decreased 0.4% to follow last week's 0.5% decline.

Dow: +31.96… | Nasdaq: +6.85… | S&P: +4.25…
NASDAQ Adv/Dec 1521/1237. …NYSE Adv/Dec 1366/1453.

12:25PM ET

[BRIEFING.COM] The major averages continue moving higher; the S&P 500 is now up 0.2%.

Nearly all of the S&P 500's 11 sectors are currently trading in the green with consumer discretionary (+0.6%), health care (+0.4%), consumer staples (+0.6%), and utilities (+0.5%) leading the charge. The top-weighted technology sector (unch) still holds a slim loss, but has strengthened considerably in recent action; the group held a loss of 0.6% at its worst mark of the day.

In the bond market, U.S. Treasuries are mixed with shorter-dated issues showing relative strength; the yield on the 2-yr Treasury note is down one basis point at 1.47%. Meanwhile, the benchmark 10-yr yield is up one basis point at 2.34%.
Dow: +43.65… | Nasdaq: +12.77… | S&P: +5.85…
NASDAQ Adv/Dec 1638/1105. …NYSE Adv/Dec 1530/1273.

12:00PM ET

[BRIEFING.COM] Stocks have been ticking up in recent action, pushing all three major indices--the Dow (+0.1%), the S&P 500 (+0.1%), and the Nasdaq (+0.1%)--to new record highs.

Amazon (AMZN 966.32, +9.22) has jumped 0.9% in today's session, bouncing back from two straight declines and recent weakness in general; the company has dropped 7.6% since reporting worse-than-expected earnings on July 27. However, AMZN shares still hold an impressive year-to-date gain of 28.8%.

Elsewhere within the consumer discretionary space (+0.5%), Netflix (NFLX 185.06, +5.87) is up 3.3% after UBS raised its target price to $225 from $190. Dollar Tree (DLTR 89.40, +2.58) also shows notable strength, adding 3.0%. DLTR shares have climbed 34.7% since July 10.
Dow: +31.47… | Nasdaq: +6.00… | S&P: +3.85…
NASDAQ Adv/Dec 1675/1081. …NYSE Adv/Dec 1554/1245.

11:25AM ET

[BRIEFING.COM] Equities continue trending sideways, leaving the S&P 500 at its unchanged mark. Meanwhile, the Dow shows relative strength (+0.1%).

The influential health care sector (+0.4%) is among the strongest groups this morning as the majority of its components trade in the green. Within the sector, Mylan (MYL 38.97, +6.43) has spiked 19.7% after the FDA approved its generic version of Teva Pharma's (TEVA 16.15, -2.67) multiple sclerosis drug Copaxone.

Meanwhile, biotechnology names also show notable strength, sending the iShares Nasdaq Biotechnology ETF (IBB 340.45, +2.67) higher by 0.8%.

Today's positive performance extends the health care sector's week-to-date gain to 1.3%, which places the group just behind the materials space (+1.6% WTD) at the top of the week's leaderboard. The financials, industrials, and telecom services sectors have also had solid weeks thus far, adding 1.0% apiece.

For comparison, the S&P 500 holds a week-to-date gain of 0.6%.
Dow: +18.53… | Nasdaq: -1.09… | S&P: +1.18…
NASDAQ Adv/Dec 1556/1181. …NYSE Adv/Dec 1441/1314.

11:00AM ET

[BRIEFING.COM] The major averages are trading mixed with the Dow (+0.1%) holding a slim gain while the S&P 500 (unch) and the Nasdaq (-0.2%) hold slim losses.

Seven of the S&P 500's eleven sectors are hovering in the green this morning, but gains have been limited; no space holds a gain of more than 0.4%. On the flip side, the top-weighted technology sector (-0.4%) is trading at the bottom of the sector standings amid broad weakness.

The Energy Information Administration (EIA) released its weekly crude inventory report at the bottom of the hour. The reading came in better than expected, showing a draw of 6.0 million barrels (consensus -0.5 million barrels) for the week ended September 29.

WTI crude futures were down 0.3% going into the reading, but now trade flat at a price of $50.45/bbl.
Dow: +13.96… | Nasdaq: -8.46… | S&P: -0.06…
NASDAQ Adv/Dec 1508/1235. …NYSE Adv/Dec 1335/1390.

10:35AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.22% at 83.9261.
The dollar index is down 0.06% at 93.52.
Nov WTI crude is higher following EIA inventory data.
The data showed a draw of 6 mln barrels.
Futures are $0.18 higher to $50.60/barrel.
In other energy,
Natural gas futures spiked around 8am ET and have since sold of slightly.
Nov futures are up $0.054 at $2.949/MMBtu
Metals performed well with precious metals and copper settling higher
Dec gold has gained $0.80 and trades at $1275.40/oz, while Dec silver has dropped $0.015 to $16.635/oz
Dec copper has gained $0.002 to $2.9655/lb
Finally, agriculture:
Dec corn is down $0.0175 at $3.4775/bu.
Nov soy is down $0.015 at $9.5375/bu.
Dec wheat is down $0.0325 at $4.4475/bu.

Dow: +14.04… | Nasdaq: -10.78… | S&P: -0.65…
NASDAQ Adv/Dec 1517/1186. …NYSE Adv/Dec 1350/1305.

10:00AM ET

[BRIEFING.COM] The S&P 500 (-0.1%) is still trading a tick below its unchanged mark.

Just in, the ISM Services Index for September rose to 59.8 from an unrevised reading of 55.3 in August. The Briefing.com consensus expected a reading of 55.3.
Dow: +11.87… | Nasdaq: -9.45… | S&P: -0.47…
NASDAQ Adv/Dec 1321/1309. …NYSE Adv/Dec 1135/1493.

09:45AM ET

[BRIEFING.COM] Stocks are mostly lower in early action; the S&P 500 shows a loss of 0.1%.

The consumer discretionary sector is up 0.2%, with Netflix (NFLX 184.24, +5.07) showing particular strength (+3.1%) after UBS raised its target price to $225 from $190. Meanwhile, the health care (+0.3%) and materials (+0.3%) spaces are also outperforming while the technology group (-0.3%) lags.

Today's last economic report--the September ISM Services Index (Briefing.com consensus 55.3)--will be released shortly at 10:00 ET.
Dow: +16.81… | Nasdaq: -7.68… | S&P: -0.39…
NASDAQ Adv/Dec 1304/1303. …NYSE Adv/Dec 1228/1333.

09:13AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -11.60.

Equity futures point to a slightly lower open for the stock market, which is coming off yet another record close. The S&P 500 futures currently trade two points below fair value.

On the data front, the September ADP Employment Change Report came in below estimates, showing the addition of 135,000 nonfarm payrolls (Briefing.com consensus 160,000). The report is seen as a prelude to Friday's Employment Situation Report (Briefing.com consensus 75K), but the two readings often deviate sharply from one another.

Investors also received the weekly MBA Mortgage Applications Index--which showed a decrease of 0.4%--earlier this morning and will receive the September ISM Services Index (Briefing.com consensus 55.3) at 10:00 ET.

Fed Chair Janet Yellen will speak at a community banking conference hosted by the Federal Reserve Bank of St. Louis this afternoon at 15:15 ET. Investors will be analyzing Ms. Yellen's comments closely, looking for any clues as to the timing of the next rate hike.

In corporate news, Mylan (MYL 37.91, +5.38) has jumped 16.5% in pre-market action after the FDA approved its generic version of Teva Pharma's (TEVA 16.56, -2.26) Copaxone. Conversely, Office Depot (ODP 4.15, -0.44) is down 9.6% after acquiring CompuCom Systems for approximately $1 billion and lowering its outlook for the year.

On the earnings front, PepsiCo (PEP 107.22, -1.91) has dropped 1.8% despite beating bottom-line estimates and raising its earnings guidance for the fiscal year.

U.S. Treasuries are trading higher this morning, sending yields into the red; the benchmark 10-yr yield is down one basis points at 2.32%. Meanwhile, the U.S. Dollar Index is down 0.2% at 93.25 as the greenback has fallen 0.2% against the euro to 1.1765 and 0.3% against the pound to 1.3269.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -14.60.

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

Equity indices in the Asia-Pacific region ended Wednesday on a modestly higher note while China's Shanghai Composite remained closed for Golden Week. Bank of Japan Deputy Governor Hiroshi Nakaso said the removal of stimulus could increase the deficit, but the Japanese government is ready for that eventuality. The World Bank now expects that China's GDP will increase 6.7% in 2017 (previous 6.5%) and grow 6.4% (previous 6.3%) in 2018. The Reserve Bank of India left its repurchase rate unchanged at 6.00%, as expected.

In economic data:
Australia's September AIG Services Index 52.1 (last 53.0)
New Zealand's ANZ Commodity Price Index +0.8% month-over-month (last -0.8%) and GlobalDairyTrade Price Index -2.4% (last 0.9%)

---Equity Markets---

Japan's Nikkei added 0.1%. Sapporo Holdings jumped 3.1% amid reports peer Asahi Group will raise prices. Asahi Group rallied 2.7%. Mitsubishi Electric, Komatsu, Pacific Metals, Okuma, Familymart, Kikkoman, and Daikin Industries posted gains between 1.3% and 1.9%. On the downside, Yamaha Motor, Hino Motors, Konami, and Nissan Motor lost between 1.2% and 1.9%.
Hong Kong's Hang Seng rose 0.7%. Property names like China Overseas, China Resources Land, SHK Properties, Henderson Land, Link Reit, and Sino Land advanced between 0.4% and 2.8%.
China's Shanghai Composite was closed
India's Sensex advanced 0.6% with countercyclical names like Sun Pharma, ITC, and Dr. Reddy's Labs rising between 2.0% and 3.0%. Financials ended mostly lower with AXIS Bank, HDFC Bank, and ICICI Bank losing between 0.6% and 0.9%. SBI bucked the trend, rising 0.8%.

Major European indices trade mostly lower with Spain's IBEX (-2.3%) showing relative weakness. Spain's 10-yr yield has increased five basis points to 1.76% while other regional yields are lower, resulting in widening spreads. Spain's King Felipe spoke yesterday, condemning the Catalan independence vote. King Felipe said the Spanish state must ensure constitutional order in Catalonia. Catalan First Minister Carles Puigdemont said, during an interview with BBC, that a declaration of independence will be issued in a matter of days. This could prompt Spain's central government to invoke Article 155, suspending home rule. Article 155 is viewed as a last-resort option, because its invocation would likely lead to more unrest in Catalonia.

In economic data:
Eurozone September Services PMI 55.8 (expected 55.6; last 55.6). August Retail Sales -0.5% month-over-month (expected 0.3%; last -0.3%); +1.2% year-over-year (consensus 2.6%; previous 2.3%)
Germany's September Services PMI 55.6 (expected 55.6; last 55.6)
UK's September Services PMI 53.6 (consensus 53.2; last 53.2)
France's September Services PMI 57.0 (expected 57.1; last 57.1)
Italy's September Services PMI 53.2 (consensus 54.9; last 55.1)
Spain's September Services PMI 56.7 (expected 55.5; last 56.0)

---Equity Markets---

Germany's DAX is up 0.1%. Deutsche Bank and Commerzbank are both down near 1.2% while Thyssenkrupp, Adidas, SAP, and BASF show losses between 0.1% and 3.2%. On the upside, Volkswagen has climbed 2.4% while BMW and Daimler show respective gains of 2.7% and 1.3%.
UK's FTSE hovers near its flat line. Provident Financial, Standard Life, Direct Line Insurance, Barclays, and Old Mutual are down between 0.4% and 4.9%. Select consumer names outperform with TUI, Pearson, Associated British Foods, Diageo, and Paddy Power up between 0.3% and 1.0%.
France's CAC is down 0.3% with financials pacing the retreat. Societe Generale, BNP Paribas, and Credit Agricole show losses between 1.1% and 2.0% while AXA is down 0.5%. Peugeot and Renault outperform, rising 1.9% and 1.1%, respectively.
Spain's IBEX has slid 2.3% to levels from March. Financials are struggling with Caixabank, Banco Sabadell, Bankia, BBVA, Santander, and Bankinter falling between 2.7% and 6.1%.

08:25AM ET
[BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -13.90.

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

Released not long ago, the ADP National Employment Report showed an increase of 135,000 in September (Briefing.com consensus 160,000) while the August reading was revised lower to 228,000 from 237,000.

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: -9.30.

Equities settled at record highs once again on Tuesday, but the bullish bias has been put on hold this morning as investors await the release of the September ADP Employment Change Report. The S&P 500 futures point to a slightly lower open for the U.S. equity market as they currently trade one point below fair value.

The ADP Employment Change Report, which will be released at 8:15 AM ET, is often seen as a prelude to Friday's more influential Employment Situation Report (Briefing.com consensus 75K), even though the two readings often deviate sharply from one another. Economists polled by Briefing.com expect today's ADP reading for September will show the addition of 160,000 nonfarm payrolls.

Earlier this morning, market participants received the weekly MBA Mortgage Applications Index, which showed a decrease of 0.4%. Today's third, and final, piece of economic data--the September ISM Services Index (Briefing.com consensus 55.3)--will cross the wires at 10:00 AM ET.

Fed Chair Janet Yellen will speak at a community banking conference hosted by the Federal Reserve Bank of St. Louis this afternoon at 3:15 PM ET. Investors will be analyzing Ms. Yellen's comments closely, looking for any clues as to the timing of the next rate hike.

On a related note, reports indicate that President Trump's shortlist for the next Fed Chair includes current Fed Governor Jerome Powell, Mr. Trump's chief economic adviser Gary Cohn, and former Fed Governor Kevin Warsh. It is unclear if Ms. Yellen is still being considered for another term.

U.S. Treasuries are trading higher this morning, sending yields into the red; the benchmark 10-yr yield is down two basis points at 2.31%. Meanwhile, the U.S. Dollar Index is down 0.3% at 93.13 as the greenback has fallen 0.3% against the euro to 1.1776 and 0.4% against the yen to 112.40.

In U.S. corporate news:

PepsiCo (PEP 107.60, -1.53): -1.4% despite beating bottom-line estimates and raising its earnings guidance for the fiscal year.
Mylan (MYL 37.05, +4.52): +13.9% after the FDA approved its generic version of Teva Pharma's (TEVA 16.15, -2.67) Copaxone.
Netflix (NFLX 181.42, +2.23) +1.2% after UBS raised its target price to $225 from $190.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a modestly higher note while China's Shanghai Composite remained closed for Golden Week. Japan's Nikkei +0.1%, Hong Kong's Hang Seng +0.7%, India's Sensex +0.6%.
In economic data:
Australia's September AIG Services Index 52.1 (last 53.0)
New Zealand's ANZ Commodity Price Index +0.8% month-over-month (last -0.8%) and GlobalDairyTrade Price Index -2.4% (last 0.9%)
In news:
Bank of Japan Deputy Governor Hiroshi Nakaso said the removal of stimulus could increase the deficit, but the Japanese government is ready for that eventuality.
The World Bank now expects that China's GDP will increase 6.7% in 2017 (previous 6.5%) and grow 6.4% (previous 6.3%) in 2018.
The Reserve Bank of India left its repurchase rate unchanged at 6.00%, as expected.

Major European indices trade mostly lower with Spain's IBEX (-2.5%) showing relative weakness. Germany's DAX unch, UK's FTSE unch, France's CAC -0.3%.
In economic data:
Eurozone September Services PMI 55.8 (expected 55.6; last 55.6). August Retail Sales -0.5% month-over-month (expected 0.3%; last -0.3%); +1.2% year-over-year (consensus 2.6%; previous 2.3%)
Germany's September Services PMI 55.6 (expected 55.6; last 55.6)
UK's September Services PMI 53.6 (consensus 53.2; last 53.2)
France's September Services PMI 57.0 (expected 57.1; last 57.1)
Italy's September Services PMI 53.2 (consensus 54.9; last 55.1)
Spain's September Services PMI 56.7 (expected 55.5; last 56.0)
In news:
Spain's King Felipe spoke yesterday, condemning the Catalan independence vote. King Felipe said the Spanish state must ensure constitutional order in Catalonia. Catalan First Minister Carles Puigdemont said, during an interview with BBC, that a declaration of independence will be issued in a matter of days. This could prompt Spain's central government to invoke Article 155, suspending home rule. Article 155 is viewed as a last-resort option, because its invocation would likely lead to more unrest in Catalonia.
Spain's 10-yr yield has increased three basis points to 1.74% while other regional yields are lower, resulting in widening spreads.

05:52AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -6.40.

05:52AM ET
[BRIEFING.COM] Nikkei...20627...+12.60...+0.10%. Hang Seng...28379.18...+206.00...+0.70%.

05:52AM ET
[BRIEFING.COM] FTSE...7459.71...-8.40...-0.10%. DAX...12913.22...+10.60...+0.10%.

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