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 Post subject: October 18th Wednesday Trade Results - Loss $812.50
PostPosted: Thu Oct 19, 2017 8:26 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
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Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
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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 @ ($812.50) dollars or -16.25 points, Light Crude Oil CL ($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 Loss @ ($812.50 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=2673

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: +160.16… | Nasdaq: +0.56… | S&P: +1.90…
NASDAQ Vol: 1.73 bln… Adv: 1468… Dec: 1158…
NYSE Vol: 678.9 mln… Adv: 1522… Dec: 1394…

Moving the Market

Financials bounce back following Tuesday's sell off

Dow component IBM (IBM) rallies after beating top and bottom line estimates

Influential technology and health care sectors outperform

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

[BRIEFING.COM] The stock market notched another record high on Wednesday, with financials and technology stocks pacing the advance. The Dow added 0.7% and finished comfortably ahead of both the S&P 500 (+0.1%) and the Nasdaq (unch), thanks in large part to IBM (IBM 159.53, +12.99), which climbed 8.9% in reaction to its better-than-expected earnings report. The small-cap Russell 2000 (+0.5%) showed relative strength, but, unlike the other indices, it did not finish at a new record high.

Trading ranges were narrow on Wednesday, with the S&P 500 sporting a gain between 0.01% and 0.19% from start to finish.

Goldman Sachs (GS 242.03, +5.94) retraced just about all of its Tuesday decline in the midweek session, surging higher by 2.5% and helping the S&P 500's financial sector (+0.6%) finish at the top of the sector standings. As a reminder, Goldman reported above-consensus earnings and revenues on Tuesday morning, but plunged to a fresh October low nonetheless. Morgan Stanley (MS 50.15, +1.03) also had a belated earnings rally, jumping 2.1%.

The top-weighted technology sector (+0.3%) started Wednesday's session little changed, but strengthened over the course of the day, eventually settling near the top of the leaderboard. Within the group, IBM was by far the top performer after exceeding profit and sales expectations. However, the sector's top component by market cap--Apple (AAPL 159.76, -0.71)--held gains in check, losing 0.4%.

Only two other sectors finished in positive territory--health care (+0.2%) and industrials (+0.1%). Transports helped the industrial space, evidenced by the 0.8% increase in the Dow Jones Transportation Average, while health care leaned on names like AbbVie (ABBV 96.04, +3.87) and Anthem (ANTM 191.79, +4.53), which added 4.2% and 2.4%, respectively. Anthem announced that it plans to partner with CVS Health (CVS 74.10, +1.47) to launch its own pharmacy benefit manager after its current contract with Express Scripts (ESRX 57.77, +0.56) ends it 2020.

On the flip side, the telecom services (-0.6%) and energy (-0.7%) sectors fell amid broad weakness, finishing at the very bottom of the sector standings. Within the energy group, Chevron (CVX 118.15, -2.07) exhibited particular weakness after both Societe Generale and BMO Capital Markets downgraded the Dow component on Wednesday morning. CVX shares lost 1.7%.

WTI crude futures climbed 0.3% to $52.04 per barrel after the Energy Information Administration reported that U.S. crude stockpiles declined by 5.7 million barrels last week; the consensus estimate called for a draw of 3.3 million barrels. However, gasoline inventories increased by 0.9 million barrels, possibly signaling a downtick in demand.

U.S. Treasuries ended the midweek session on a lower note with longer-dated issues pacing the decline. The benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, climbed four basis points to 2.34%. Meanwhile, the 2-yr yield jumped two basis points to 1.56%.

Reviewing Wednesday's economic data, which included September Housing Starts, the Fed's Beige Book for October, and the weekly MBA Mortgage Applications Index:

Housing starts decreased to a seasonally adjusted annualized rate of 1.127 million units in September (Briefing.com consensus 1.160 million), down from a revised 1.183 million units in August (from 1.180 million). Building permits decreased to a seasonally adjusted 1.215 million in September (Briefing.com consensus 1.225 million) from a revised 1.272 million in August (from 1.300 million).
The key takeaway from the report is that the weakness in starts and permits was concentrated in the South region, which suffered the biggest hit from the hurricanes, so one could reasonably assume that the October report will show better results.
The Fed's Beige Book for October showed that economic activity increased at a modest to moderate pace in all 12 of the Federal Reserve Districts in September through early October. The Richmond, Atlanta, and Dallas Districts reported major disruptions related to Hurricanes Harvey and Irma. Many Districts noted that employers were having difficulty finding qualified workers, but the shortage in labor had little effect on wages.
The weekly MBA Mortgage Applications Index increased 3.6% to follow last week's 2.1% decline.

On Thursday, investors will receive both the weekly Initial Claims Report (Briefing.com consensus 236K) and the Philadelphia Fed Index for October (Briefing.com consensus 20) at 8:30 ET. The third and last economic report--the Conference Board Leading Economic Index for September (Briefing.com consensus 0.1%)--will be released at 10:00 ET.

As for earnings, Verizon (VZ 48.65, +0.25), Philip Morris (PM 112.51, -0.14), and Travelers (TRV 130.02, +1.37) are scheduled to report on Thursday morning.

Nasdaq Composite +23.1% YTD
Dow Jones Industrial Average +17.2% YTD
S&P 500 +14.4% YTD
Russell 2000 +10.9% YTD

Dow: +160.16… | Nasdaq: +0.56… | S&P: +1.90…

NASDAQ Adv/Dec 1468/1158. …NYSE Adv/Dec 1522/1394.

03:50PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down -0.21% at 85.3089
Dollar index is 0.13% at 93.39.
Nov WTI crude is higher on the day.
Futures settled $0.17 lower to $52.04/barrel.
In other energy, Nov natural gas settled down $0.10 at $2.86/MMBtu
On to metals:
Dec gold lost $3.30 to settle at $1282.90/oz, while Sept silver dropped $0.01 to $17.00/oz
Dec copper lost $0.01 to $3.18/lb
Finally, agriculture:
Dec corn settled $0.02 lower at $3.48/bu.
Nov soy settled $0.01 lower at $9.84/bu.
Dec wheat settled $0.05 lower at $4.30/bu.

Dow: +167.81… | Nasdaq: +4.07… | S&P: +2.97…

NASDAQ Adv/Dec 1593/1124. …NYSE Adv/Dec 1570/1337.

03:00PM ET

[BRIEFING.COM] All three major averages--the S&P 500 (+0.1%), the Nasdaq (+0.1%), and the Dow (+0.7%)--are on track to settle at new record highs moving into the final stretch.

Investors will receive another batch of earnings following today's closing bell, including reports from American Express (AXP 91.82, +0.13), eBay (EBAY 37.96, +0.47), United Continental (UAL 68.06, +0.55), and Alcoa (AA 47.45, -0.32), among many others. Tomorrow morning, Verizon (VZ 48.43, +0.03), Philip Morris (PM 112.45, -0.20), and Travelers (TRV 129.46, +0.81) are among the most notable companies on the earnings docket.

Outside the equity market, the U.S. Dollar Index is on track to post its first loss in a week, hovering 0.1% below its flat line at 93.23.

Dow: +153.94… | Nasdaq: +7.46… | S&P: +3.06…

NASDAQ Adv/Dec 1704/1098. …NYSE Adv/Dec 1587/1316.

02:30PM ET

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

The Fed's Beige Book was released at the top of the hour and showed that economic activity increased at a modest to moderate pace in all 12 of the Federal Reserve Districts in September through early October. The Richmond, Atlanta, and Dallas districts reported major disruptions related to Hurricanes Harvey and Irma. Many districts reported that employers were having difficulty finding qualified workers, but the shortage had little effect on wages.

U.S. Treasuries continue trading in negative territory this afternoon, with longer-dated issues showing particular weakness. The 2-yr yield is up one basis point at 1.55% while the benchmark 10-yr yield is up four basis points at 2.34%.

Dow: +157.80… | Nasdaq: +7.70… | S&P: +3.55…

NASDAQ Adv/Dec 1727/1068. …NYSE Adv/Dec 1594/1291.

02:00PM ET

[BRIEFING.COM] The major U.S. indices have moved higher in recent action and currently hover near the top of their trading ranges for the day. The S&P 500 is sporting a gain of 0.2%.

Only four sectors are trading in the green this afternoon--financials (+0.6%), technology (+0.5%), health care (+0.2%), and industrials (+0.2%)--but they are all heavily weighted, comprising around 60.0% of the broader market combined. On the flip side, most of the declining sectors hold losses of no more than 0.3%. The two exceptions are the telecom services (-0.8%) and energy (-0.7%) groups.

As a reminder, today's last economic report--the Fed's Beige Book for October--will be released shortly at 14:00 ET.

Dow: +159.94… | Nasdaq: +10.06… | S&P: +4.16…

NASDAQ Adv/Dec 1724/1063. …NYSE Adv/Dec 1564/1313.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to march upwards to further record highs, with stocks currently sitting near their best levels of the session.

A look inside the Dow Jones Industrial Average shows that IBM (IBM 160.90, +14.36), Goldman Sachs (GS 241.04, +4.95), & Intel (INTC 40.20, +0.40) are outperforming. Significantly boosting the Dow, IBM has surged to its best levels since April after the company reported a third quarter top and bottom line beat, and reaffirmed its full year outlook. Elsewhere, Goldman had its price target raised at Buckingham Research to $250 from $243.

Conversely, Chevron (CVX 118.13, -2.09) is the worst-performing Dow component after being downgraded to Hold from Buy at Societe Generale.

With today's rally, the DJIA is now up 3.32% this month.

Dow: +149.36… | Nasdaq: +8.73… | S&P: +3.39…

NASDAQ Adv/Dec 1704/1072. …NYSE Adv/Dec 1517/1344.

01:05PM ET

[BRIEFING.COM] Stocks have drifted between slim gains and losses throughout the first half of today's session, leaving the S&P 500 (+0.1%) little changed at midday. The Nasdaq (+0.1%) is also relatively flat, but the Dow Jones Industrial Average (+0.6%) outperforms, underpinned by tech giant IBM (IBM 160.30, +13.81)--which has climbed 9.4% in reaction to its latest earnings report.

IBM has moved above its 50-day simple moving average (159.59) for the first time since late April after reporting better-than-expected earnings and revenues for its fiscal third quarter. However, the company's upbeat influence has been limited within the broader technology sector as the S&P 500's most heavily-weighted group trades higher by just 0.3%.

Still, the technology sector's modest gain places it near the top of today's sector standings--in line with health care (+0.2%) and a step below financials (+0.7%). Goldman Sachs (GS 241.25, +5.16) is among the financial sector's top performers with a gain of 2.2%, bouncing back from yesterday's post-earnings decline; Goldman dropped 2.6% on Tuesday despite beating top and bottom line estimates.

Within the health care group, Anthem (ANTM 192.90, +5.64) has climbed 3.0% after announcing that it plans to partner with CVS Health (CVS 74.45, +1.82) to launch its own pharmacy benefit manager when its current contract with Express Scripts (ESRX 58.77, +1.56) ends it 2020. CVS and Express Scripts are also higher, adding 2.5% and 2.7%, respectively.

On the flip side, the lightly-weighted telecom services sector is down 1.1% amid broad weakness. The energy space (-0.6%) also shows a sizable decline, but no other group holds a loss of more than 0.4%.

The energy group slipped into the red after the EIA released its weekly crude inventory report, which showed a larger-than-expected draw in U.S. crude stockpiles (5.7 million barrels actual vs 3.3 million barrels consensus). However, gasoline inventories increased by 0.9 million barrels, possibly signaling a downtick in demand.

WTI crude futures were up 0.7% ahead of the EIA release and now trade higher by just 0.2% at $52.21 per barrel.

It's also worth pointing out that Dow component Chevron (CVX 118.06, -2.16) has weighed on the energy group, tumbling 1.8% after both Societe Generale and BMO Capital Markets downgraded the company this morning.

U.S. Treasuries are trading lower, sending yields higher across the curve; the benchmark 10-yr yield is up four basis points at 2.34%.

Reviewing Wednesday's economic data, which has included September Housing Starts and the weekly MBA Mortgage Applications Index thus far:

Housing starts decreased to a seasonally adjusted annualized rate of 1.127 million units in September (Briefing.com consensus 1.160 million), down from a revised 1.183 million units in August (from 1.180 million). Building permits decreased to a seasonally adjusted 1.215 million in September (Briefing.com consensus 1.225 million) from a revised 1.272 million in August (from 1.300 million).
The key takeaway from the report is that the weakness in starts and permits was concentrated in the South region, which suffered the biggest hit from the hurricanes, so one could reasonably assume that the October report will show better results.
The weekly MBA Mortgage Applications Index increased 3.6% to follow last week's 2.1% decline.

Today's last economic report--the Fed's Beige Book for October--will be released at 14:00 ET.

Dow: +147.43… | Nasdaq: +8.20… | S&P: +3.60…

NASDAQ Adv/Dec 1672/1094. …NYSE Adv/Dec 1485/1362.

12:30PM ET

[BRIEFING.COM] Equity indices have ticked higher in recent trade, climbing back to the upper half of their narrow trading ranges. The S&P 500 is up 0.1%.

The lightly-weighted telecom services sector (-1.5%) is struggling today, erasing the 1.0% week-to-date gain it held prior to the start of today's session. Wireless giants Verizon (VZ 47.92, -0.47) and AT&T (T 35.60, -0.63) show losses of 1.0% and 1.8%, respectively. Today's loss extends the sector's year-to-date decline to 13.7%, which places the group comfortably at the bottom of the sector standings.

For comparison, the only other sector to hold a year-to-date loss is energy, which is down 9.3%. Meanwhile, the S&P 500 has added 14.4% so far in 2017.

In the bond market, U.S. Treasuries are still lower this afternoon, but they have ticked up from their worst marks of the day. The yield on the benchmark 10-yr Treasury note is up four basis points at 2.34% after hitting 2.35% shortly after the stock market's open.

Dow: +146.76… | Nasdaq: +7.92… | S&P: +3.22…

NASDAQ Adv/Dec 1693/1081. …NYSE Adv/Dec 1470/1379.

12:05PM ET

[BRIEFING.COM] The S&P 500 (+0.1%) and the Nasdaq (unch) continue to drift near their flat lines, while the Dow (+0.6%) hovers about 130 points above the 23000 mark--which it breached for the first time ever on Tuesday.

Canadian Pacific Railway (CP 177.34, +10.18) has surged 6.1%, hitting its best level since May 2015, after reporting better-than-expected earnings and raising its guidance for fiscal year 2017. The company is not included in the Dow Jones Transportation Average (+0.7%), but it has assisted the average today by helping fuel buying interest for railroad peers that are included in the DJTA.

The industrial sector, which houses transport names, trade roughly in line with the broader market, sporting a slim gain of 0.1%. Only three other groups--financials (+0.7%), health care (+0.2%), and technology (+0.2%)--are currently trading in the green.

Dow: +134.71… | Nasdaq: -1.65… | S&P: +1.28…

NASDAQ Adv/Dec 1577/1190. …NYSE Adv/Dec 1381/1448.

11:30AM ET

[BRIEFING.COM] Equity indices have ticked down in recent action, with the Nasdaq (-0.1%) slipping into negative territory.

The heavily-weighted financial sector (+0.6%) trades at the top of today's sector standings, bouncing back from yesterday's 0.6% decline. Morgan Stanley (MS 50.25, +1.12) and Goldman Sachs (GS 239.96, +3.88) are among the top performers within the group, adding 2.3% and 1.7%, respectively, after both companies reported better-than-expected earnings and revenues on Tuesday morning.

Goldman Sachs initially tumbled following its latest earnings release, losing 2.6% on Tuesday, while Morgan Stanley moved just modestly higher, adding 0.4%.

On the flip side, there are several financial components trading in the red today, most notably U.S. Bancorp (USB 53.07, -0.81), which has slipped 1.5% after reporting in-line earnings this morning. Insurers also exhibit relative weakness, with Progressive (PGR 48.05, -0.51) leading the retreat, losing 1.0%. The company has tumbled 1.9% since beating top and bottom line estimates yesterday.

Dow: +123.61… | Nasdaq: -3.44… | S&P: +0.51…

NASDAQ Adv/Dec 1502/1288. …NYSE Adv/Dec 1263/1556.

10:55AM ET

[BRIEFING.COM] Equity indices have changed very little since the opening bell. The S&P 500 is still up 0.1% while the Dow is still outperforming, sporting a gain of 0.5%.

The Energy Information Administration (EIA) reported that U.S. crude stockpiles declined by 5.7 million barrels last week, while the consensus estimate predicted a draw of 3.3 million barrels. However, gasoline inventories increased by 0.9 million barrels, possibly signaling a downtick in demand. WTI crude futures were up 0.7% ahead of the EIA release and now trade higher by just 0.1% at $52.15 per barrel.

Meanwhile, the S&P 500's energy sector ticked down into the red following the weekly report and currently shows a loss of 0.2%. Within the group, Dow component Chevron (CVX 119.09, -1.13) shows particular weakness (-1.0%) after both Societe Generale and BMO Capital Markets downgraded the company earlier this morning.

Dow: +135.68… | Nasdaq: +3.92… | S&P: +2.57…

NASDAQ Adv/Dec 1580/1176. …NYSE Adv/Dec 1394/1387.

10:35AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 85.49
Dollar index is currently up 0.13% at 93.61
Dec WTI crude is up 0.25% on the day.
EIA inventory was just released and crude oil inventories had a draw of 5.7 mln barrels for the week ending October 13th.
Futures are $0.13 higher to $52.24/barrel.
In other energy, Nov natural gas is down $0.07 at $2.89/MMBtu
Metals:
Dec gold gained $4.2 and trades at $1282/oz, while Dec silver gained $0.04 to $17/oz
Dec copper gained 0.01 to $3.19/lb
Finally, agriculture:
Dec corn is unchanged $0 at $3.5/bu.
Nov soy is unchanged $0 at $0.34/bu.
Dec wheat is down $0.03 at $4.32/bu.

Dow: +114.10… | Nasdaq: +0.54… | S&P: +2.01…

NASDAQ Adv/Dec 1561/1171. …NYSE Adv/Dec 1432/1337.

10:00AM ET

[BRIEFING.COM] The major averages continue to hover near their opening marks, with the Dow (+0.5%) showing relative strength.

Health care stocks within the S&P 500 are outperforming the broader market for the second day in a row, adding 0.6%. Anthem (ANTM 198.44, +11.48) is the strongest component within the sector, climbing 5.6%, after announcing that it will partner with CVS Health (CVS 73.26, +0.63) to launch its own pharmacy benefit management company called IngenioRx, effective January 2020.

The heavily-weighted financial sector (+0.4%) also exhibits relative strength, despite the underperformance of U.S. Bancorp (USB 52.99, -0.88), which has declined 1.6% after reporting in-line earnings this morning. Goldman Sachs (GS 240.60, +4.51) is among the sector's top performers, bouncing back from yesterday's 2.6% tumble. GS shares are higher by 1.9%.

Dow: +113.34… | Nasdaq: -2.47… | S&P: +2.12…

NASDAQ Adv/Dec 1637/1029. …NYSE Adv/Dec 1533/1108.

09:45AM ET

[BRIEFING.COM] The S&P 500 (+0.1%) and the Nasdaq (+0.1%) trade a tick above their flat lines in the opening minutes of today's session, while the price-weighted Dow (+0.5%) shows relative strength, underpinned by tech-giant IBM (IBM 157.76, +11.28)--which is up 7.7%. IBM reported better-than-expected earnings and revenues on Tuesday evening.

Over half of the S&P 500's 11 sectors are hovering in negative territory, but losses have been limited thus far; no groups holds a loss of more than 0.3%. The health care (+0.6%) and energy (+0.2%) groups exhibit relative strength while the consumer staples (-0.3%), utilities (-0.2%), and telecom services (-0.2%) groups are the weakest performers.

U.S. Treasuries are still trading in the red, sending yields higher across the curve. The benchmark 10-yr yield is up four basis points at 2.34%--which marks its best level in nearly a week. Meanwhile, the 2-yr yield is up two basis points at 1.56%, hovering at its best level since the 2008 financial crisis.

Dow: +107.42… | Nasdaq: +2.79… | S&P: +2.64…

NASDAQ Adv/Dec 1602/1023. …NYSE Adv/Dec 1612/972.

09:11AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +5.10.

The U.S. equity market is on track to open Wednesday's session in positive territory as the S&P 500 futures trade four points, or 0.1%, above fair value.

In corporate news, IBM (IBM 156.21, +9.67) is up 6.6% in pre-market trade, looking to trim its year-to-date loss of nearly 12.0%, after reporting better-than-expected earnings and revenues on Tuesday evening. CVS Health (CVS 73.50, +0.87) is also up, climbing 1.2%, after Anthem (ANTM 187.26, 0.00) announced it will work with CVS to run its new pharmacy benefits manager.

Conversely, Chipotle Mexican Grill (CMG 318.60, -10.70) is down 3.3% after Bank of America/Merrill Lynch downgraded CMG shares to 'Underperform' from 'Netural.' Similarly, Ulta Beauty (ULTA 198.55, -3.73) is down 1.8% after Piper Jaffray downgraded the company to 'Neutral' from 'Overweight.'

On the data front, Housing starts decreased to a seasonally adjusted annualized rate of 1.127 million units in September (Briefing.com consensus 1.160 million), down from a revised 1.183 million units in August (from 1.180 million). Building permits also decreased, hitting a seasonally adjusted 1.215 million in September (Briefing.com consensus 1.225 million). The August reading was revised to 1.272 million from 1.300 million.

Today's last economic report--the Fed's Beige Book for October--will be released at 14:00 ET.

U.S. Treasuries are trading in negative territory this morning, pushing yields higher across the curve. The benchmark 10-yr yield is up four basis points at 2.34% while the 2-yr yield has climbed two basis points to 1.56%.

Meanwhile, the U.S. Dollar Index is up 0.1% at 93.46 and is on track for its fifth win in a row.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +2.60.

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

Equity indices in the Asia-Pacific region ended Wednesday on a mixed note, but Japan's Nikkei (+0.1%) eked out its 12th consecutive advance nonetheless. China's 19th Communist Party Congress began overnight. President Xi Jinping said the government will continue executing its plan aimed at reducing overcapacity and deleveraging. China Securities Journal noted that the yuan is expected to be 'basically stable' near current levels. The Bank of Korea will meet tomorrow and is expected to leave its key interest rate at 1.25%, but some analysts have started speculating about a potential rate in 2018.

In economic data:
Australia's MI Leading Index +0.1% month-over-month (last -0.1%)
South Korea's September Import Price Index +10.7% year-over-year (last 9.1%) and Export Price Index +10.9% year-over-year (last 10.8%). September Unemployment Rate 3.7%, as expected (last 3.8%)

---Equity Markets---

Japan's Nikkei added 0.1%. J Front Retailing, Sony, Alps Electric, Japan Tobacco, Japan Steel Works, and Bridgestone climbed between 1.2% and 2.7%. Bridgestone revealed its targets for the medium term. On the downside, Kobe Steel fell 3.0%.
Hong Kong's Hang Seng rose 0.1%. Insurers Ping An Insurance and China Life Insurance both gained near 1.9% while CK Asset, CK Hutchinson, Wharf Holdings, and Link Reit posted gains between 0.4% and 1.6%. Apple supplier AAC Technologies lost 4.2%, backing off its record high.
China's Shanghai Composite edged up 0.3%. Gansu Dunhuang Seed, Kangmei Pharmaceutical, Zhangzhou Pientzehuang, Sanan Optoelectronics, BTG Hotels, and Changchun Yidong Clutch rallied between 4.0% and 5.5%.
India's Sensex shed 0.1%. Financials lagged with AXIS Bank falling 9.5% after its results showed an increase in nonperforming assets. ICICI Bank fell 4.0% while SBI lost 2.8%. HDFC Bank bucked the trend, rising 1.0%.

Major European indices trade in the green while Spain's IBEX (-0.1%) underperforms. Catalan President Carles Puigdemont has until tomorrow to drop the push for independence or face the suspension of home rule. Italian regions of Lombardy and Veneto will vote on regional autonomy on Sunday; however, the regions are not seeking outright independence from Italy. European Central Bank President Mario Draghi reiterated that accommodative monetary policy provides an opportunity to enact structural reforms.

In economic data:
UK's August Average Earnings Index + Bonus +2.2% (expected 2.1%; last 2.2%). September Claimant Count Change 1,700 (expected 1,000; last -200). August Unemployment Rate held at 4.3%, as expected

---Equity Markets---

UK's FTSE is higher by 0.4%. Consumer names like Dixons Carphone, TUI, Persimmon, Taylor Wimpey, Burberry, Associated British Foods, Next, Diageo, and Unilever show gains between 1.0% and 3.4%. Conversely, miners like Rio Tinto, Anglo American, and BHP Billiton are down between 0.3% and 1.1%.
Germany's DAX has climbed 0.5%. Automakers BMW, Daimler, and Volkswagen show gains between 1.0% and 1.2% while other heavyweights like SAP, BASF, Merck, Bayer, and Allianz are up between 0.4% and 1.0%.
France's CAC trades up 0.6% with consumer names and financials among the leaders. Danone, Pernod Ricard, L'Oreal, Louis Vuitton, Credit Agricole, Societe Generale, and BNP Paribas have added between 0.6% and 1.6%.
Spain's IBEX is down 0.1%. IAG, Ferrovial, Amadeus, Mediaset, Bankia, and Bankinter are up between 0.5% and 2.5%. On the flip side, Caixabank, Santander, and Banco Sabadell show losses between 0.7% and 1.1%.

08:33AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +4.60.

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

Just in, Housing starts decreased to a seasonally adjusted annualized rate of 1.127 million units in September (Briefing.com consensus 1.160 million), down from a revised 1.183 million units in August (from 1.180 million). Building permits decreased to a seasonally adjusted 1.215 million in September (Briefing.com consensus 1.225 million) from a revised 1.272 million in August (from 1.300 million).

08:01AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +3.90.

The equity market ticked up to new record highs once again on Tuesday, marking its second consecutive record finish and third consecutive victory. However, each of the last three wins have been modest, leaving the S&P 500 just 0.3% above where it settled last Thursday--which marked the start of the third quarter earnings season.

Stocks are poised to begin today's session modestly higher as the S&P 500 futures currently trade four points, or 0.1%, above fair value.

Coming into the midweek session, seven of the S&P 500's eleven sectors hold week-to-date gains with the health care (+0.9% WTD) and telecom services (+1.0% WTD) groups showing relative strength. The health care space was boosted by positive earnings results from UnitedHealth (UNH 204.27, +0.38) and Johnson & Johnson (JNJ 140.93, +0.14) on Tuesday while the telecom services group is bouncing back from a rough outing last week, in which the group dropped 4.6%.

Meanwhile, the materials (-0.4% WTD), consumer staples (-0.3% WTD), and real estate (-0.4% WTD) sectors hover at the bottom of the week's leaderboard.

Today's economic data will include the September Housing Starts (Briefing.com consensus 1160K) and the Fed's Beige Book for October; the two reports will be released at 8:30 ET and 14:00 ET, respectively. Also of note, the weekly MBA Mortgage Applications Index, which was released earlier this morning, increased 3.6% to follow last week's 2.1% decline.

As for Fed speakers, New York Fed President William Dudley (FOMC voter) and Dallas Fed President Robert Kaplan (FOMC voter) will be participating in a conversation on economic growth at 8:00 ET.

U.S. Treasuries are trading in negative territory this morning, pushing yields higher across the curve. The benchmark 10-yr yield is up three basis points at 2.33% while the 2-yr yield has climbed two basis points to 1.56%. Meanwhile, the U.S. Dollar Index is up 0.2% at 93.53 and is on track for its fifth win in a row.

In U.S. corporate news:

IBM (IBM 153.25, +6.71): +4.6% after reporting better-than-expected earnings and revenues.
CVS Health (CVS 73.75, +1.12): +1.5% after announcing a five-year agreement with Anthem (ANTM 187.26, 0.00) to provide services to support IngenioRx.
Merck (MRK 64.01, +0.79): +1.3% after Citigroup upgraded the company to 'Buy' from 'Neutral.'
Chipotle Mexican Grill (CMG 320.56, -8.74): -2.7% after Bank of America/Merrill Lynch downgraded the company to 'Underperform' from 'Neutral.'

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a mixed note, but Japan's Nikkei (+0.1%) eked out its 12th consecutive advance nonetheless. Hong Kong's Hang Seng +0.1%, China's Shanghai Composite +0.3%, India's Sensex -0.1%.
In economic data:
Australia's MI Leading Index +0.1% month-over-month (last -0.1%)
South Korea's September Import Price Index +10.7% year-over-year (last 9.1%) and Export Price Index +10.9% year-over-year (last 10.8%). September Unemployment Rate 3.7%, as expected (last 3.8%)
In news:
China's 19th Communist Party Congress began overnight. President Xi Jinping said the government will continue executing its plan aimed at reducing overcapacity and deleveraging. China Securities Journal noted that the yuan is expected to be 'basically stable' near current levels.
The Bank of Korea will meet tomorrow and is expected to leave its key interest rate at 1.25%, but some analysts have started speculating about a potential rate in 2018.

Major European indices trade in the green while Spain's IBEX (unch) underperforms. UK's FTSE (+0.3%), Germany's DAX (+0.5%), France's CAC (+0.6%).
In economic data:
UK's August Average Earnings Index + Bonus +2.2% (expected 2.1%; last 2.2%). September Claimant Count Change 1,700 (expected 1,000; last -200). August Unemployment Rate held at 4.3%, as expected
In news:
Catalan President Carles Puigdemont has until tomorrow to drop the push for independence or face the suspension of home rule.
Italian regions of Lombardy and Veneto will vote on regional autonomy on Sunday; however, the regions are not seeking outright independence from Italy.
European Central Bank President Mario Draghi reiterated that accommodative monetary policy provides an opportunity to enact structural reforms.

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +4.50.
05:52AM ET

[BRIEFING.COM] Nikkei

...21363...+26.90...+0.10%

Hang Seng

...28712...+14.30...+0.10%

05:52AM ET

[BRIEFING.COM] FTSE

...7536.66...+20.50...+0.30%

DAX

...13054.52...+59.50...+0.50%

04:30PM ET

[BRIEFING.COM] Stocks ticked higher for the third session in a row on Tuesday as investors digested another round of earnings. The Dow (+0.2%) traded above the 23,000 mark for the first time in history and eventually settled at a new all-time high. The S&P 500 (+0.1%) also eked out a new record close, while the Nasdaq (unch) came up just short, finishing a tick beneath its unchanged mark.

Health care stocks rallied on Tuesday, led by Dow component UnitedHealth (UNH 203.89, +10.69), which surged 5.5% after reporting better-than-expected earnings and raising its earnings guidance slightly. The advance marked the company's largest one-day price gain since it went public 33 years ago and left UNH shares at a new all-time high.

UnitedHealth is one of the priciest--and therefore one of the most influential--components within the price-weighted Dow and had much to do with the industrial average's relatively positive Tuesday performance. Fellow health care heavyweight and Dow component Johnson & Johnson (JNJ 140.79, +4.67) also underpinned the blue-chip average, adding 3.4% on above-consensus earnings and revenues.

Naturally, the S&P 500's health care sector (+1.3%) finished at the top of the day's sector standings, followed from a distance by the utilities (+0.6%), telecom services (+0.2%), and energy (+0.1%) groups. Most of the seven remaining sectors finished in negative territory, but losses were pretty modest. For instance, the financial sector was the weakest group with a loss of 0.6%.

Financial heavyweights Goldman Sachs (GS 236.09, -6.32) and Morgan Stanley (MS 49.12, +0.18) delivered impressive earnings reports on Tuesday, with both companies surpassing top and bottom line estimates, but Goldman dropped 2.6% nonetheless. Morgan Stanley added more than 2.0% in the opening minutes, but eventually trimmed that gain to 0.4% by the closing bell.

Meanwhile, Netflix (NFLX 199.48, -3.20) retreated from record highs after reporting below-consensus earnings on Monday evening. However, the on-demand entertainment provider did add nearly a million more subscribers than expected in the third quarter. NFLX shares ended Tuesday lower by 1.6%.

U.S. Treasuries settled mostly higher on Tuesday, with longer-dated issues exhibiting relative strength. The yield on the benchmark 10-yr Treasury note dropped one basis point to 2.30% while the 2-yr yield finished unchanged at 1.54%. Meanwhile, the U.S. Dollar Index climbed 0.4% to 93.37--closing at a one-week high.

Reviewing Tuesday's batch of economic data, which included September Industrial Production and Capacity Utilization, September Import/Export Prices, and the October NAHB Housing Market Index:

Industrial Production increased 0.3% in September (Briefing.com consensus +0.2%), while the August reading was revised to -0.7% (from -0.9%). Capacity Utilization rose to 76.0% (Briefing.com consensus 76.1%) from a revised reading of 75.8% in August (from 76.1%).
The key takeaway from the report is that total production in September was held down by the continued effects of Hurricane Harvey and, to a lesser extent, the effects of Hurricane Irma, which combined lowered industrial production growth by 1/4 percentage point.
Import prices excluding oil rose 0.3% in September after increasing 0.3% in August. Export prices excluding agriculture increased 1.0% in September after rising a revised 0.8% in August (from 0.7%).
The key takeaway is that these price trends will validate the prevailing belief that the Federal Reserve is likely to raise the fed funds rate at its December meeting.
The NAHB Housing Market Index for October rose to 68 (Briefing.com consensus 64) from an unrevised reading of 64 in September.

On Wednesday, investors will receive just two pieces of economic data--the weekly MBA Mortgage Applications Index and September Housing Starts (Briefing.com consensus 1160K). The two reports will cross the wires at 7:00 ET and 8:30 ET, respectively.

As for earnings, Abbott Labs (ABT 55.06, +0.43) and U.S. Bancorp (USB 53.88, -0.38) are the most notable names on Wednesday morning's docket.

Nasdaq Composite +23.0% YTD
Dow Jones Industrial Average +16.4% YTD
S&P 500 +14.3% YTD
Russell 2000 +10.3% YTD

Dow: +40.48… | Nasdaq: -0.35… | S&P: +1.72…

NASDAQ Adv/Dec 1019/1824. …NYSE Adv/Dec 1245/1654.

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

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

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

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