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 Post subject: October 12th Thursday Trade Results - Profits $750.00
PostPosted: Fri Oct 13, 2017 3:11 am 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3020
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
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)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $750.00 dollars or +15.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $750.00 dollars

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis.

Russell 2000 Emini RTY Futures: 1 tick or 0.10 = $5.00 dollars and there's more contract information @ CMEGroup (formerly as TF @ The ICE)
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=172&t=2669

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 (you must be a member of the chat room for a real-time review). Although the trades are posted by me and other users of WRB Analysis in real-time...this is not a signal calling chat room nor is this a live trading room that has a head trader telling you what to do. I'm the moderator (I keep the peace between members) and my own live trades are posted within 3.2 seconds on average after the trade confirmation in my broker trade execution platform 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), WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility...all key concepts from the WRB Analysis free study guide 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.

Quote:
2017 has been the most difficult trading year since I've begun trading +25 years ago because successful trading involves more than just trade methods than any other trading year. This is a key concept many traders have difficulties in understanding. Some blame it on algorithms while I blame it on the inability to adapt, failure to backtest, failure to document trades (real-money or simulator) and underestimating how our environment influences our cognitive decision making while trading...all while trading in low volatility market conditions that statistically have the reputation for difficult trading.

Image ##TheStrategyLab Chat Room is free. The free chat room is not a signal calling trading room nor is it a live trading room with a head trader even though members of the chat room are posting their trades & market analysis in real-time. 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 about your own trading 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 quantitative statistical analysis, brokerage statements in the free chat room. Instead, its highly recommended that you only post that particular information in your private thread for security reasons. Yet, if you want to post that type of information at another website, blog or chat room...that's your choice.

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, many different types of social media software can be used to log in along with IRC being easier to moderate via script codes when trouble makers, spammers and trolls show up. 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 problematic traders so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled or harassed.

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. The purpose of 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. 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 trade entry rules, new trade management rules, new position size management rules 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.

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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: -31.88… | Nasdaq: -12.04… | S&P: -4.31…
NASDAQ Vol: 2.01 bln… Adv: 1151… Dec: 1641…
NYSE Vol: 787.8 mln… Adv: 1573… Dec: 1328…

Moving the Market

JPMorgan Chase (JPM) & Citigroup (C) both beat top and bottom line estimates, but financials move lower nonetheless

Core PPI increases more than expected in September (+0.4% actual vs +0.2% Briefing.com consensus); strengthens argument for a December rate hike

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

[BRIEFING.COM] Stocks slipped from record highs on Thursday amid a heap of corporate news and the start of the third quarter earnings season. The S&P 500 and the Nasdaq lost 0.2% apiece while the Dow Jones Industrial Average (-0.1%) held up slightly better. Equities spent some time in positive territory, but eventually settled near their session lows.

Financial heavyweights JPMorgan Chase (JPM 95.99, -0.85) and Citigroup (C 72.37, -2.57) kicked off the third quarter earnings season on Thursday morning. Both lenders reported better-than-expected earnings and revenues, but moved lower nonetheless, tumbling 0.9% and 3.4%, respectfully. Other financials followed suit, sending the S&P 500's financial sector lower by 0.7%.

The financial group will be in focus once again on Friday morning, as that's when Bank of America (BAC 25.45, -0.38) and Wells Fargo (WFC 55.21, -0.45) are scheduled to report their quarterly results.

Like financials, consumer discretionary stocks within the S&P 500 struggled on Thursday, losing 0.7%. Cosmetic retailer Ulta Beauty (ULTA 190.16, -17.73) showed particular weakness, settling the day lower by 8.5%, after Cleveland Research downgraded ULTA shares to 'Neutral' from 'Buy' in pre-market action.

Women's apparel retailer J.Jill (JILL 4.86, -5.07) was hit even harder, plunging 51.1%, after lowering its forecast for third quarter same-store sales.

Unsurprisingly, the SPDR S&P Retail ETF (XRT 39.88, -0.53) tumbled 1.3%, finishing below its 50-day simple moving average (40.13) for the first time in over a month. Retailers will be in the spotlight once again on Friday morning, which is when investors will get their hands on the Retail Sales Report for September (Briefing.com consensus +1.5%).

AT&T (T 35.86,-2.33) led the lightly-weighted telecom services group (-3.5%) to the bottom of the sector standings on Thursday, dropping 6.1% in reaction to an announcement that its video subscribers declined for the third quarter in a row. Fellow wireless giant Verizon (VZ 48.35, -0.51) also dropped, losing 1.0%.

On a positive note, transports had a good showing, sending the Dow Jones Transportation Average higher by 0.6%. Railroad names like CSX (CSX 53.58, +0.50) showed particular strength after JPMorgan raised the company's target price to $62 from $58. CSX shares finished higher by 0.9%.

The top-weighted technology sector (unch) spent much of the day in positive territory, but slipped in the final stretch as mega-caps like Alphabet (GOOG 987.83, -1.42), Facebook (FB 172.55, -0.19), and Apple (AAPL 156.00, -0.55) retraced their earlier gains. Microsoft (MSFT 77.12, +0.70) held strong though, adding 0.9%.

In Washington, President Trump signed an executive order related to health care on Thursday that's aimed at providing more options for consumers and stepping up competition within the space. The health care sector (-0.2%) finished roughly in line with the broader market.

WTI crude futures declined 1.3% to $50.61 per barrel, despite the EIA reporting a larger-than-expected draw in U.S. crude stockpiles for the week ended October 6 (2.8 million barrels actual vs 2.4 million barrels consensus). The energy sector, which typically moves in tandem with oil prices, lost 0.4%.

In IPO news, CarGurus (CARG 27.58, +11.58)--which hosts an online marketplace for new and used vehicles--opened for trading today at a price of $29 per share after pricing its IPO at $16 per share. The company eventually settled at $27.58 per share, which is more than 70.0% above its IPO price.

U.S. Treasuries moved higher in a curve-flattening trade, sending yields into the red. The benchmark 10-yr yield dropped three basis points to 2.32%.

Reviewing Thursday's economic data, which included the Producer Price Index for September and the weekly Initial Claims Report:

Producer prices rose 0.4% in September, which is in line with the Briefing.com consensus. Meanwhile, core producer prices rose 0.4%, which is above the 0.2% increase that the Briefing.com consensus expected. Year-over-year, core producer prices are up 2.2%.
The key takeaway from the report is that it will feed the view that the Federal Reserve is on course to raise the fed funds rate again in December. The latter view stems from the understanding that the final demand index increased 2.6% for the 12 months ended in September, marking the largest rise since a 2.8% advance for the 12 months ended February 2012. Meanwhile, the final demand index less foods and energy increased 2.2% for the 12 months ended in September versus 2.0% for the 12 months ended in August.
The latest weekly initial jobless claims count totaled 243,000 while the Briefing.com consensus expected a reading of 255,000. Today's tally was below the revised prior week count of 258,000 (from 260,000). As for continuing claims, they declined to 1.889 million from the revised count of 1.921 million (from 1.938 million).
The key takeaway from the claims data is that it is consistent with a tight labor market, which some members of the Federal Reserve think poses an upside inflation risk.

On Friday, investors will receive the Consumer Price Index for September (Briefing.com consensus +0.6%) at 8:30 ET, Retail Sales for September (Briefing.com consensus +1.5%) also at 8:30 ET, the preliminary reading for the University of Michigan Consumer Sentiment Index for October (Briefing.com consensus 95.6) at 10:00 ET, and Business Inventories for August (Briefing.com consensus +0.7%) also at 10:00 ET.

Nasdaq Composite +22.5% YTD
Dow Jones Industrial Average +15.6% YTD
S&P 500 +13.9% YTD
Russell 2000 +10.9% YTD

Dow: -31.88… | Nasdaq: -12.04… | S&P: -4.31…

NASDAQ Adv/Dec 1151/1641. …NYSE Adv/Dec 1573/1328.

03:35PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.42% at 85.1301
Dollar index is currently up +0.09% at 93.04.
Nov WTI crude is lower on the day.
Futures settled $0.65 lower to $50.61XXX/barrel.
In other energy, Nov natural gas settled up $0.11 at $2.99/MMBtu
On to metals:
Dec gold gained $7.70 to settle at $1296.50/oz, while Sept silver gained $0.02 to $17.26/oz
Dec copper gained $0.02 to $3.12/lb
Finally, agriculture:
The USDA released the WASDE report today and soybeans saw a large boost in price from a sharp cut in ending U.S. stocks.
Dec corn settled $0.03 higher at $3.49/bu.
Nov soy settled $0.27 higher at $9.93/bu.
Dec wheat settled $0.02 lower at $4.31/bu.

Dow: -28.12… | Nasdaq: -4.94… | S&P: -2.97…

NASDAQ Adv/Dec 1397/1498. …NYSE Adv/Dec 1656/1245.

03:00PM ET

[BRIEFING.COM] Equity indices have ticked down in recent action, hitting their worst levels of the afternoon. The S&P 500 shows a loss of 0.2%.

Earnings season will pick back up tomorrow morning, when another batch of financial heavyweights are due to report their quarterly results. Bank of America (BAC 25.40, -0.43) and Wells Fargo (WFC 55.21, -0.46) will be the headliners, looking to outdo the positive reports of their peers JPMorgan Chase (JPM 95.78, -1.09) and Citigroup (C 72.55, -2.40)--both of which reported this morning.

Lesser-known banks PNC (PNC 135.11, -1.38), First Republic (FRC 102.22, -1.19), and First Horizon (FHN 18.84, -0.28) will also report on Friday morning.

The heavily-weighted financial sector (-0.7%) trades at a fresh session low going into the final hour of action.

Dow: -34.10… | Nasdaq: -9.61… | S&P: -3.77…

NASDAQ Adv/Dec 1335/1559. …NYSE Adv/Dec 1598/1298.

02:30PM ET

[BRIEFING.COM] The major U.S. indices are little changed this afternoon, alternating between slim gains and losses.

In Washington, Chief of Staff John Kelly said that President Trump is still some time away from choosing the next Fed Chair. Reports indicate that former Fed Governor Kevin Warsh and current Fed Governor Jerome Powell are the two frontrunners, but current Fed Chair Janet Yellen and Mr. Trump's Chief Economic Advisor Gary Cohn are also in the running.

Ms. Yellen is currently serving a four-year term as Fed Chair that will conclude in roughly four months on February 3, 2018.

Dow: -9.43… | Nasdaq: -0.61… | S&P: -1.35…

NASDAQ Adv/Dec 1403/1476. …NYSE Adv/Dec 1607/1264.

02:05PM ET

[BRIEFING.COM] The stock market continues to drift near its unchanged mark.

Six sectors currently trade in the green--industrials (+0.4%), materials (+0.3%), technology (+0.4%), consumer staples (+0.3%), utilities (+0.5%), and real estate (+0.6%)--while five groups trade in the red--financials (-0.5%), consumer discretionary (-0.5%), energy (-0.5%), health care (-0.2%), and telecom services (-2.8%).

The Treasury Budget for September was scheduled to be released at 14:00 ET, but still has yet to cross the wires.

Dow: -15.86… | Nasdaq: +1.53… | S&P: -1.49…

NASDAQ Adv/Dec 1414/1455. …NYSE Adv/Dec 1613/1249.

01:35PM ET

[BRIEFING.COM] The major U.S. indices continue to fluctuate around base levels, with the Dow Jones Industrial Average creeping back into positive territory in recent action.

A look inside the Dow shows that Microsoft (MSFT 77.11, +0.69), Caterpillar (CAT 129.56, +0.96), & Wal-Mart (WMT 86.22, +0.49) are the best-performing components.

Conversely, Walt Disney (DIS 97.15, -1.40) is the worst-performing Dow component after being downgraded to Neutral from Buy at Guggenheim.

At current levels, the DJIA is up 0.43% this week, and more than 2% to start Q4.

Elsewhere, at the top of the hour, the Treasury's $12 bln 30-year Treasury reopening auction drew a high yield of 2.87% on a bid to cover of 2.53.

Dow: +0.31… | Nasdaq: +3.83… | S&P: -0.57…

NASDAQ Adv/Dec 1390/1480. …NYSE Adv/Dec 1568/1282.

01:05PM ET

[BRIEFING.COM] Stocks are trading flat this afternoon, overcoming the modest losses they held at the opening bell, with the tech-heavy Nasdaq (+0.1%) showing relative strength. The Dow (unch) is hovering right at its unchanged mark and the S&P 500 (-0.1%) is slightly lower. All three major indices settled Wednesday at new record highs.

JPMorgan Chase (JPM 95.93, -0.91) and Citigroup (C 73.40, -1.54) kicked off the third quarter earnings season on a positive note this morning by reporting better-than-expected earnings and revenues. However, the two financial heavyweights have dropped 0.9% and 2.1%, respectively, as financial stocks struggle to extend their recent five-week run.

The S&P 500's financial sector (-0.4%) is hovering near the bottom of today's sector standings, surpassed only by the telecom services group, which has dropped 2.4%. AT&T (T 36.58, -1.62) has paced the telecom retreat, tumbling 4.2% in reaction to an announcement that its video subscribers declined for the third quarter in a row.

Consumer discretionary stocks within the S&P 500 are also underperforming, losing 0.4%. Ulta Beauty (ULTA 195.52, -12.37) is among the weakest components within the sector, losing 6.0%, after Cleveland Research downgraded the cosmetic and skincare retailer to 'Neutral' from 'Buy' early this morning.

Women's apparel retailer J.Jill (JILL 4.94, -4.99) has plunged even farther, tumbling over 50.0%, after lowering its forecasts for third quarter same-store sales.

On the up side, the top-weighted technology sector (+0.2%) trades ahead of the broader market, with Microsoft (MSFT 77.11, +0.69) showing particular strength. The tech giant has climbed 0.9% in today's session, extending its October gain to 3.5%. For comparison, the S&P 500 has added only 1.3% this month.

In Washington, President Trump signed an executive order on health care this morning aimed at providing more options for consumers and stepping up competition within the space. The health care sector trades a step below the broader market, showing a loss of 0.2%.

West Texas Intermediate (WTI) crude futures are down 2.0% at $50.26/bbl, unwinding a good chunk of this week's gains, despite the EIA reporting a larger-than-expected draw in U.S. crude stockpiles (2.8 million barrels actual vs 2.4 million barrels consensus). The energy sector, which typically moves in tandem with oil prices, is down 0.6%.

In the bond market, U.S. Treasuries are mixed with shorter-dated issues moving lower while longer-dated issues move higher. The benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, is down one basis point at 2.34% while the 2-yr yield is up one basis point at 1.51%.

Reviewing Thursday's economic data, which has included the Producer Price Index for September and the weekly Initial Claims Report thus far:

Producer prices rose 0.4% in September, which is in line with the Briefing.com consensus. Meanwhile, core producer prices rose 0.4%, which is above the 0.2% increase that the Briefing.com consensus expected. Year-over-year, core producer prices are up 2.2%.
The key takeaway from the report is that it will feed the view that the Federal Reserve is on course to raise the fed funds rate again in December. The latter view stems from the understanding that the final demand index increased 2.6% for the 12 months ended in September, marking the largest rise since a 2.8% advance for the 12 months ended February 2012. Meanwhile, the final demand index less foods and energy increased 2.2% for the 12 months ended in September versus 2.0% for the 12 months ended in August.
The latest weekly initial jobless claims count totaled 243,000 while the Briefing.com consensus expected a reading of 255,000. Today's tally was below the revised prior week count of 258,000 (from 260,000). As for continuing claims, they declined to 1.889 million from the revised count of 1.921 million (from 1.938 million).
The key takeaway from the claims data is that it is consistent with a tight labor market, which some members of the Federal Reserve think poses an upside inflation risk.

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

Dow: -4.11… | Nasdaq: +0.59… | S&P: -1.63…

NASDAQ Adv/Dec 1358/1483. …NYSE Adv/Dec 1532/1297.

12:30PM ET

[BRIEFING.COM] The major indices kick off the afternoon at their best marks of the day; the S&P 500 is hovering right at its unchanged mark.

Women's apparel retailer J.Jill (JILL 4.94, -4.99) has plunged 50.2% in today's session after lowering its forecasts for same-store sales yesterday evening, further signaling the steep competition within the retail industry. The SPDR S&P Retail ETF (XRT 39.89, -0.52) has moved lower in tandem with J.Jill, extending its 2017 loss to 9.5%.

Meanwhile, online-retail giant Amazon (AMZN 1006.57, +11.57)--which has inflicted much damage to the brick-and-mortar retail model--is up 1.1% in today's session, extending its year-to-date gain to 34.2%.

Dow: +0.14… | Nasdaq: +6.11… | S&P: -1.02…

NASDAQ Adv/Dec 1451/1377. …NYSE Adv/Dec 1564/1239.

12:00PM ET

[BRIEFING.COM] The Dow Jones Industrial Average touched positive territory for the first time today in recent action and currently hovers just a tick above its unchanged mark.

Within the Dow, technology giant Microsoft (MSFT 77.29, +0.78) is the strongest component, sporting a gain of 1.0%. MSFT shares have started October on a strong note, evidenced by their month-to-date gain, which now sits at 3.8%. For comparison, the S&P 500 has added 1.4% in October thus far.

On the flip side, Walt Disney (DIS 97.23, -1.32) is the weakest Dow component, slipping 1.4% below yesterday's closing price. Investment firm Guggenheim downgraded the mass media company to 'Neutral' from 'Buy' in pre-market action this morning.

Dow: +8.15… | Nasdaq: +4.92… | S&P: -0.42…

NASDAQ Adv/Dec 1434/1366. …NYSE Adv/Dec 1562/1243.

11:25AM ET

[BRIEFING.COM] The tech-heavy Nasdaq (unch) has popped into positive territory while the Dow (unch) and the S&P 500 (-0.1%) continue to hover a tick below their flat lines.

West Texas Intermediate (WTI) crude futures trimmed losses in recent action after the U.S. Energy Information Administration reported that domestic crude inventories declined by 2.8 million barrels last week, while estimates called for a draw of around 2.4 million barrels. WTI crude is down 1.6% at $50.50 per barrel after holding a loss of 1.9% in front of the EIA release.

Meanwhile, energy stocks within the S&P 500 are still trading behind the broader market, showing a loss of 0.5%. Dow components Chevron (CVX 119.07, -0.26) and Exxon Mobil (XOM 119.06, -0.27) are down 0.2% and 0.4%, respectively.

Dow: -7.71… | Nasdaq: +0.96… | S&P: -1.67…

NASDAQ Adv/Dec 1467/1347. …NYSE Adv/Dec 1561/1207.

10:55AM ET

[BRIEFING.COM] The major averages have trimmed their opening losses slightly over the last hour of action; the S&P 500 now trades lower by just 0.1%.

Most of the S&P 500's 11 sectors are trading in the green this morning, but several heavyweights--including financials (-0.5%) and consumer discretionary (-0.5%)--hold notable losses. Meanwhile, the top-weighted technology sector (+0.2%) is outperforming, extending its week-to-date gain to 1.0%. For comparison, the S&P 500 has added just 0.1% this week.

In the bond market, U.S. Treasuries are mixed with shorter-dated issues moving lower while longer-dated issues move higher. The benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, is down one basis point at 2.34% while the 2-yr yield is up one basis point at 1.51%.

As a reminder, the EIA will release its weekly crude inventory report at 11:00 ET. WTI crude is currently down 1.8% at $50.38 per barrel.

Also, President Trump is expected to sign an executive order on health care at 11:15 ET that will allow insurers to offer less comprehensive plans and give consumers the ability to purchase health care across state lines. The S&P 500's health care sector is down 0.1%.

Dow: -14.22… | Nasdaq: -0.90… | S&P: -2.29…

NASDAQ Adv/Dec 1381/1378. …NYSE Adv/Dec 1435/1302.

10:40AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up +0.05% at 84.8111
Dollar index is currently up +0.12% at 93.13.
Oct WTI crude is lower on the day.
EIA petroleum data is due out at 11am ET.
Futures are $0.90 lower to $50.40/barrel.
In other energy, Oct natural gas is up $0.06 at $2.949/MMBtu following EIA invntory data
EIA data showed a build of 87 bcf vs a build of 42 bcf in the prior week.
Metals:
Dec gold gained $6.10 and trades at $1295.00/oz, while Sept silver gained $0.097 to $17.23/oz
Sept copper gained $0.0365 to $3.132/lb
Finally, agriculture:
Dec corn is $0.01 lower at $3.45/bu.
Nov soy is down $0.0025 at $9.65/bu.
Dec wheat is down $0.0275 lower at $4.305/bu.

Dow: -8.33… | Nasdaq: -0.93… | S&P: -172…

NASDAQ Adv/Dec 1320/1411. …NYSE Adv/Dec 1479/1267.

10:00AM ET

[BRIEFING.COM] Equity indices continue to hover at their opening levels, showing modest losses across the board.

The S&P 500's consumer discretionary sector (-0.8%) is struggling this morning, with just about all of its components trading in negative territory. Ulta Beauty (ULTA 193.58, -14.31) is particularly weak, losing 7.0% after Cleveland Research downgraded the cosmetic and skincare retailer to 'Neutral' from 'Buy' earlier this morning.

Media heavyweight Viacom (VIAB 23.64, -1.57) also holds a sizable decline, moving lower after Guggenheim downgraded the company's shares to 'Neutral' from 'Buy.' VIAB shares are currently down 6.2%, hovering at their lowest level in eight years.

Dow: -28.91… | Nasdaq: -7.17… | S&P: -4.83…

NASDAQ Adv/Dec 1074/1573. …NYSE Adv/Dec 1071/1597.

09:45AM ET

[BRIEFING.COM] The major U.S. indices are down modestly in the opening minutes of today's session, with the S&P 500 showing a loss of 0.2%.

Most of the S&P 500's 11 sectors are trading in the red, but the consumer discretionary (-0.5%), energy (-0.6%), and telecom services (-1.8%) groups show particular weakness. Within the telecom space, wireless giant AT&T (T 36.79, -1.40) has plunged 3.7% after announcing that its video subscriber base declined for the third quarter in a row.

On the flip side, the heavily-weighted financial sector (unch) outperforms following better-than-expected earnings reports from JPMorgan Chase (JPM 96.79, -0.08) and Citigroup (C 75.56, +0.60).

Dow: -29.26… | Nasdaq: -9.37… | S&P: -4.17…

NASDAQ Adv/Dec 1159/1413. …NYSE Adv/Dec 1130/1462.

09:19AM ET

[BRIEFING.COM] S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -10.00.

Equities are set to open Thursday's session a step below where they settled on Wednesday as the S&P 500 futures trade five points, or 0.2%, below fair value.

JPMorgan Chase (JPM 97.48, +0.64) and Citigroup (C 75.46, +0.53) kicked off the third quarter earnings season this morning, reporting better-than-expected earnings and revenues. The two financial heavyweights are up around 0.6% apiece in pre-market action as a result, looking to give the S&P 500's financial sector a boost at the opening bell.

On the downside, Juniper Networks (JNPR 25.35, -1.51) is lower by 5.3% after lowering its revenue guidance for the third quarter. Also, Micron (MU 41.07, -0.54) has lost 1.3% after announcing that it will increase its upcoming common stock offering to $1.2 billion from $1.0 billion.

The Producer Price Index increased 0.4% during the month of September, hitting the Briefing.com consensus estimate. Meanwhile, the core Producer Price Index, which excludes food and energy, came in hotter than expected, showing a month-over-month increase of 0.4% (Briefing.com consensus +0.2%). Year-over-year, the core PPI is now up 2.2%.

Whether or not the increase in producer prices will carry over to consumer prices remains to be seen, but today's reading further strengthens the argument for a December rate hike nonetheless.

Investors also received the weekly Initial Claims Report, which came in better than expected, decreasing by 15,000 to 243,000 (Briefing.com consensus 255,000). As for continuing claims, they decreased by 32,000 to 1.889 million, which is the lowest level in nearly 44 years.

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

U.S. Treasuries are trading modestly higher this morning, with the yield on the benchmark 10-yr Treasury note slipping two basis points to 2.33%.

08:51AM ET

[BRIEFING.COM] S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -10.00.

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

Equity indices in the Asia-Pacific region ended Thursday on a mostly higher note. Markets in China were subdued ahead of the 19th Party Congress, which will begin on October 18. Reports from China indicate the country's government has been pushing large technology firms to give the government a direct role in decision-making. In Japan, a poll conducted by Nikkei showed that the country's ruling coalition is on track to secure 2/3 majority. The International Monetary Fund lowered Australia's 2017 GDP growth forecast to 2.2% from 3.1%.

In economic data:
Japan's September PPI +0.2% month-over-month, as expected (last 0.0%); +3.0% year-over-year, as expected (last 2.9%). September Bank Lending +3.0% year-over-year (consensus 2.6%; last 3.2%). Tertiary Industry Activity Index -0.2% month-over-month (expected 0.1%; last 0.1%)
Australia's August Home Loans +1.0% month-over-month (expected 0.5%; last 2.8%) and August Invest Housing Finance +4.3% month-over-month (last -3.9%). MI Inflation Expectations accelerated to 4.3% from 3.8%
New Zealand's September FPI -0.2% month-over-month (last 0.6%)
Singapore's August Retail Sales -0.3% month-over-month (last 2.9%); +3.5% year-over-year, as expected (last 1.7%)

---Equity Markets---

Japan's Nikkei added 0.4%. Chugai Pharmaceutical jumped 6.2% while Komatsu, Hitachi Construction, J Front Retailing, Credit Saison, Ebara, Tokyo Electron, Yamaha, and Nippon Express gained between 1.5% and 5.1%. On the downside, Familymart, Kubota, Panasonic, and SUMCO lost between 1.4% and 3.3%.
Hong Kong's Hang Seng rose 0.2%. Financials and property names like Ping An Insurance, New World Development, SHK Properties, China Overseas, Sino Land, China Life Insurance, and Hang Seng Bank posted gains between 1.1% and 2.7%.
China's Shanghai Composite shed 0.1%. Zhejiang Juhua, Shenghe Resources Holding, Minmetals Capital, Hangzhou Tian-Mu-Shan Pharmaceutical, and Tibet Urban Development & Investment lost between 3.5% and 3.7%.
India's Sensex advanced 1.1% with help from most components. Reliance Industries, Sun Pharma, Hindustan Unilever, Hero MotoCorp, and Mahindra&Mahindra gained between 1.5% and 3.8%. Financials like AXIS Bank, HDFC Bank, and ICICI Bank added between 0.1% and 1.8% while SBI settled flat.

Major European indices trade mixed, but near their unchanged marks. European Chief Negotiator for Brexit Michel Barnier said that Brexit talks have reached a deadlock that prevents moving to discussions about a future trade deal. The pound (1.3130) has retreated about 90 pips against the dollar. Catalan President Carles Puigdemont has been given five days to confirm Tuesday's independence declaration. If Mr. Puigdemont confirms the declaration by Monday, he will be given three days to withdraw the declaration.

In economic data:
Eurozone August Industrial Production +1.4% month-over-month (expected 0.5%; last 0.3%); +3.8% year-over-year (consensus 2.6%; last 3.6%)
France's September CPI -0.2% month-over-month (expected -0.1%; last -0.1%)

---Equity Markets---

UK's FTSE is higher by 0.4%, tracking a fresh record close. Consumer names and select financials are among the leaders with Burberry, SKY, Unilever, Compass, Old Mutual, Barclays, Direct Line Insurance, and RSA Insurance are up between 0.9% and 2.9%.
Germany's DAX is flat. Deutsche Bank trades down 0.9% while Heidelbergcement, Thyssenkrupp, Bayer, Infineon, and BASF show losses between 0.1% and 0.6%. Automakers are mixed with Volkswagen rising 0.5% while Daimler and BMW show respective losses of 0.1% and 0.7%.
France's CAC has shed 0.2%. Financials Credit Agricole, Societe Generale, and BNP Paribas underperform with losses between 0.5% and 1.4%. Peugeot is up 0.2% while Renault is down 0.9%.

08:33AM ET

[BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -5.40.

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

Just in, producer prices rose 0.4% in September, which is in line with the Briefing.com consensus. Meanwhile, core producer prices rose 0.4%, which is above the 0.2% increase that the Briefing.com consensus expected. Year-over-year, core producer prices are up 2.2%.

Separately, the latest weekly initial jobless claims count totaled 243,000 while the Briefing.com consensus expected a reading of 255,000. Today's tally was below the revised prior week count of 258,000 (from 260,000). As for continuing claims, they declined to 1.889 million from the revised count of 1.921 million (from 1.938 million).

07:55AM ET

[BRIEFING.COM] S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -9.90.

The stock market advanced modestly on Wednesday--settling at a new record high--but looks poised to give back most of that gain this morning as earnings season gets under way. The S&P 500 futures are trading six points, or 0.2%, below fair value.

JPMorgan Chase (JPM 96.45, -0.39) delivered its fiscal third quarter results this morning, beating both earnings and revenue estimates and officially kicking off the third quarter earnings season. Financial peer Citigroup (C 74.65, -0.29) is also due to report this morning while Bank of America (BAC 25.69, -0.14) and Wells Fargo (WFC 55.36, -0.30) will report on Friday.

Although the financial sector started on the front foot with JPMorgan's results, the group is expected to be the weakest among the S&P 500's 11 sectors this earnings season due to hurricane-related insurance claims in the third quarter. S&P 500 earnings are expected to increase just 2.8%, down from an estimated growth rate of 7.5% on June 30--largely due to said insurance claims.

It's also worth pointing out that the financial space has climbed 10.4% since hitting a three-month low on September 7, so it wouldn't be surprising to see financial names sell off even in the face of better-than-expected results. For instance, JPM shares are down 0.4% in pre-market action despite the company's upbeat report.

In the bond market, 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 two basis points at 2.33%. Meanwhile, the 2-yr yield is up one basis point at 1.51%.

WTI crude futures are down 1.4% at $50.57 per barrel after the American Petroleum Institute reported a build of 3.1 million barrels on Wednesday evening. The Energy Information Administration will report its weekly inventory figures later this morning at 11:00 ET.

On the data front, investors will receive the Producer Price Index for September (Briefing.com consensus +0.4%) at 8:30 ET, the weekly Initial Claims Report (Briefing.com consensus 255K) also at 8:30 ET, and the Treasury Budget for September at 14:00 ET.

In U.S. corporate news:

JPMorgan Chase (JPM 95.45, -0.39): -0.4% despite beating both top and bottom line expectations and reaffirming its outlook for 2017.
Juniper Networks (JNPR 25.37, -1.49): -5.6% after lowering its revenue guidance for the third quarter.
Domino's Pizza (DPZ 200.86, -8.38): -4.0% despite reporting better-than-expected earnings and revenues and authorizing a $1.25 billion share repurchase program.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a mostly higher note. Japan's Nikkei +0.4%, Hong Kong's Hang Seng +0.2%, China's Shanghai Composite -0.1%, India's Sensex +1.1%.
In economic data:
Japan's September PPI +0.2% month-over-month, as expected (last 0.0%); +3.0% year-over-year, as expected (last 2.9%). September Bank Lending +3.0% year-over-year (consensus 2.6%; last 3.2%). Tertiary Industry Activity Index -0.2% month-over-month (expected 0.1%; last 0.1%)
Australia's August Home Loans +1.0% month-over-month (expected 0.5%; last 2.8%) and August Invest Housing Finance +4.3% month-over-month (last -3.9%). MI Inflation Expectations accelerated to 4.3% from 3.8%
New Zealand's September FPI -0.2% month-over-month (last 0.6%)
Singapore's August Retail Sales -0.3% month-over-month (last 2.9%); +3.5% year-over-year, as expected (last 1.7%)
In news:
Markets in China were subdued ahead of the 19th Party Congress, which will begin on October 18. Reports from China indicate the country's government has been pushing large technology firms to give the government a direct role in decision-making.
In Japan, a poll conducted by Nikkei showed that the country's ruling coalition is on track to secure 2/3 majority.
The International Monetary Fund lowered Australia's 2017 GDP growth forecast to 2.2% from 3.1%.

Major European indices trade near their flat lines. UK's FTSE +0.4%, Germany's DAX -0.1%, France's CAC -0.3%.
In economic data:
Eurozone August Industrial Production +1.4% month-over-month (expected 0.5%; last 0.3%); +3.8% year-over-year (consensus 2.6%; last 3.6%)
France's September CPI -0.2% month-over-month (expected -0.1%; last -0.1%)
In news:
European Chief Negotiator for Brexit Michel Barnier said that Brexit talks have reached a deadlock that prevents moving to discussions about a future trade deal.
Catalan President Carles Puigdemont has been given five days to confirm Tuesday's independence declaration. If Mr. Puigdemont confirms the declaration by Monday, he will be given three days to withdraw the declaration.

05:58AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.60. Nasdaq futures vs fair value: -2.60.
05:58AM ET

[BRIEFING.COM] Nikkei

...20955...+73.50

...+0.40%

Hang Seng

...28459...+69.50

...+0.20%

05:58AM ET

[BRIEFING.COM] FTSE

...7540.86...+7.10

...+0.10%

DAX

...12977...+6.30

...+0.10%

04:30PM ET

[BRIEFING.COM] Stocks posted a modest victory on Wednesday ahead of the third quarter earnings season, which will commence on Thursday morning. The three major indices--the S&P 500 (+0.2%), the Nasdaq (+0.3%), and the Dow (+0.2%)--settled the midweek session at fresh record highs, but the small-cap Russell 2000 underperformed, slipping 0.1%.

Investors received the minutes from the September FOMC meeting on Wednesday afternoon, but they contained little to no new information. In short, the minutes showed that the Fed favors staying on a path of gradual rate hikes, although there was growing concern that the factors keeping a lid on inflation may not be transitory after all.

Following the minutes, the CME FedWatch Tool places the chances of a December rate hike at 88.0%--virtually unchanged from the day prior.

The S&P 500's top-weighted technology sector (+0.5%) finished ahead of the broader market on Wednesday, thanks in large part to mega-cap names like Alphabet (GOOGL 1005.65, +17.85), Facebook (FB 172.74, +1.15), and Apple (AAPL 156.55, +0.65), which added 1.8%, 0.7%, and 0.4%, respectively.

Chipmakers outperformed as well, sending the PHLX Semiconductor Index (+0.7%) higher for the 11th session in a row.

The influential health care sector (+0.2%) also moved higher on Wednesday, with Dow component Johnson & Johnson (JNJ 136.65, +2.75) leading the charge. The multinational conglomerate jumped 2.1% after submitting a new application to the FDA for its prostate cancer drug apalutamide.

On the down side, industrial giant General Electric (GE 23.07, -0.29) dropped for the third session in a row, losing 1.2%, after JPMorgan lowered its target price to $20 from $22. The industrial sector (unch), which houses GE, finished in negative territory.

The financial space (-0.1%) also underperformed as investors engaged in a little profit taking ahead of some important financial earnings. Heavyweights JPMorgan Chase (JPM 96.84, -0.29) and Citigroup (C 74.94, -0.24) will report their quarterly results on Thursday morning, marking the start of the third quarter earnings season.

In the bond market, the benchmark 10-yr Treasury note finished flat, leaving its yield unchanged at 2.35%.

Reviewing Wednesday's economic data, which included the August Jobs Openings and Labor Turnover Survey (JOLTS) and the weekly MBA Mortgage Applications Index:

The August Job Openings and Labor Turnover Survey showed that job openings decreased to 6.08 million from a revised 6.14 million (from 6.17 million) in July.
The weekly MBA Mortgage Applications Index decreased 2.1% to follow last week's 0.4% decline.

On Thursday, investors will receive the Producer Price Index for September (Briefing.com consensus +0.4%) at 8:30 ET, the weekly Initial Claims Report (Briefing.com consensus 255K) also at 8:30 ET, and the Treasury Budget for September at 14:00 ET.

Nasdaq Composite +22.7% YTD
Dow Jones Industrial Average +15.7% YTD
S&P 500 +14.1% YTD
Russell 2000 +11.0% YTD

Dow: +42.21… | Nasdaq: +16.30… | S&P: +4.60…

NASDAQ Adv/Dec 1357/1411. …NYSE Adv/Dec 1710/1169.

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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http://www.thestrategylab.com
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