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 Post subject: October 20th Friday Trade Results - No Trades
PostPosted: Sat Oct 21, 2017 1:14 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
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)
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Quote:
No trades today as explained in today's archive trade chat logs (see link below).

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

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

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

Today's Trade Log is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=172&t=2675

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.

Attachment:
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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: +165.59… | Nasdaq: +23.99… | S&P: +13.11…
NASDAQ Vol: 1.78 bln… Adv: 1489… Dec: 1045…
NYSE Vol: 900.2 mln… Adv: 1785… Dec: 1146…

Moving the Market

Senate takes another step toward tax reform by passing budget blueprint

Top-weighted financials and technology sectors show relative strength

General Electric (GE) retraces opening loss; industrials outperform

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

[BRIEFING.COM] U.S. equities advanced to new record highs once again on Friday after the Senate passed a budget blueprint for 2018, which was seen as an important step for an eventual tax overhaul. The Dow (+0.7%) led Friday's advance, closing at a record high for the fifth session in a row. The S&P 500 (+0.5%) also notched its fifth straight record close, while the Nasdaq (+0.4%) registered its third record finish of the week.

The major indices opened with gains of around 0.3% apiece and slowly extended those gains into the afternoon, eventually settling near their session highs.

Financial stocks were particularly bullish following the Senate vote, with heavyweights like Goldman Sachs (GS 244.73, +4.74), Wells Fargo (WFC 54.92, +1.17), and Bank of America (BAC 27.17, +0.59) adding at least 2.0% apiece. The S&P 500's financial sector finished at the top of the day's sector standings with a gain of 1.2%.

The risk-on tone was present outside the equity market as well, sending safe-haven assets into negative territory. U.S. Treasuries moved lower in a curve-steepening trade--which added an additional boost to lenders. The benchmark 10-yr yield jumped six basis points to 2.38%, while the 2-yr yield climbed one basis point to 1.57%.

Higher yields increased the demand for the U.S. dollar, sending the U.S. Dollar Index higher by 0.6% to 93.57. The greenback showed particular strength against the Japanese yen--which is considered a safe-haven asset--climbing 0.8% to 113.50. On a related note, gold declined by 0.8% to $1,280.30/ozt.

Industrial heavyweight General Electric (GE 23.83, +0.25) faced heavy selling at the opening bell after missing earnings estimates and issuing disappointing earnings guidance for fiscal year 2017. However, after opening with a loss of around 8.0%, the company bounced back to end the day with a gain of 1.1%. The industrial sector (+1.1%) finished right behind financials at the top of the leaderboard.

Meanwhile, the top-weighted technology sector also had a solid showing, adding 0.7%. PayPal (PYPL 70.97, +3.72) was the group's strongest component after reporting better-than-expected earnings and revenues and issuing upbeat revenue guidance for the fourth quarter. PYPL shares finished higher by 5.5%.

On the flip side, the consumer staples sector struggled, finishing with a loss of 0.2%. Within the group, Procter & Gamble (PG 88.25, -3.34) showed particular weakness, despite reporting above-consensus earnings. P&G shares dropped 3.7%. The only other sector to finish in negative territory was real estate (-0.1%).

After passing the budget blueprint, the next step for the Senate will be to reconcile its version of the budget with the version that the House passed earlier this month. This could be a challenge as the two budget resolutions conflict on the deficit; the House version is deficit-neutral while the Senate's calls for a $1.5 trillion increase in the deficit over a decade.

However, if the two sides can come to an agreement, Republicans will have the ability to pass tax reform without any support from the Democrats under the reconciliation process--which requires only a simple majority in the Senate versus the typical 60-vote threshold.

Reviewing Friday's economic data, which included September Existing Homes Sales and the Treasury Budget for September:

Existing home sales for September increased 0.7% from August to an annualized rate of 5.39 million units while the Briefing.com consensus expected a reading of 5.29 million. The prior month's reading was left unrevised at 5.35 million.
The key takeaway from the report is that notable supply constraints remain, which will continue to act as a drag on overall sales due to the limited inventory and the high prices on available inventory that is crimping affordability.
The Treasury Budget for September showed a surplus of $8.0 billion versus a surplus of $33.4 billion for September 2016.

Investors will not receive any economic data on Monday.

Nasdaq Composite +23.2% YTD
Dow Jones Industrial Average +18.0% YTD
S&P 500 +15.0% YTD
Russell 2000 +11.2% YTD

Week In Review: October Rally Continues

The stock market advanced once again this week, notching a new record high in all five sessions, as investors digested another batch of third quarter earnings. The S&P 500 finished higher by 0.9%, while the Dow (+2.0%) did noticeably better and the Nasdaq (+0.4%) did modestly worse. For the month, the S&P 500 has added 2.2%.

Equities had their best performance on Friday after the Senate voted in favor of a budget blueprint for 2018--a crucial step for an eventual tax overhaul. If the upper chamber can reconcile its version of the budget with the version the House passed earlier this month, Republicans will have the ability to pass tax reform without any support from the Democrats under the reconciliation process.

The S&P 500's financial sector (+2.0%) was in focus for much of the week thanks to heavyweights like Goldman Sachs (GS) and Morgan Stanley (MS), both of which reported third quarter results on Tuesday morning. Goldman Sachs initially sold off following its release, but bounced back later in the week to finish higher by 2.6%. Morgan Stanley did even better, climbing 4.9%.

Health care stocks also rallied this week, with Dow components UnitedHealth (UNH) and Johnson & Johnson (JNJ) pacing the advance. The two companies ended the week higher by 7.8% and 4.4%, respectively, after reporting better-than-expected earnings on Tuesday. The health care sector added 1.8%, finishing right behind financials at the top of the leaderboard.

Technology giant IBM (IBM) had a strong week, surging 10.2%, after reporting better-than-expected profits and sales on Tuesday afternoon. The company's positive performance helped the top-weighted technology sector climb 1.0% and helped the price-weighted Dow Jones Industrial Average finish comfortably above the other major indices.

Telecom stocks within the S&P 500 finished slightly ahead of the broader market. Wireless giant Verizon (VZ) was a positive influence, climbing 3.5%, as investors rallied around its above-consensus earnings. The telecom services sector added 1.1% this week, but the advance did little to change the group's overwhelmingly bearish October trend; telecoms have dropped 4.7% month-to-date.

The consumer staples sector finished at the very bottom of the sector standings with a loss of 1.2%. Procter & Gamble (PG) and Phillip Morris (PM) were among the most notable laggards within the group. P&G slipped 5.2% despite reporting above-consensus earnings, while Phillip Morris lost 3.9% after missing both top and bottom line estimates and issuing disappointing guidance.

Speculation surrounding President Trump's Fed Chair nomination heated up this week. Current Fed Chair Janet Yellen could be appointed for another four-year term, but reports indicate that Fed Governor Jerome Powell and Stanford University economist John Taylor are the two leading candidates. Fed Governor Kevin Warsh and chief economic advisor Gary Cohn are also still in the mix.

Following this week's events, the CME FedWatch Tool places the chances of a December rate hike at 93.1%, up from 82.9% last week.

Dow: +165.59… | Nasdaq: +23.99… | S&P: +13.11…

NASDAQ Adv/Dec 1489/1045. …NYSE Adv/Dec 1785/1146.

03:40PM ET

[BRIEFING.COM] Commodities end the day lower :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.05% at 85.39
Dollar index is currently up 0.47% at 93.71
Oct WTI Crude is up 0.82% on the day.
Baker Hughes total U.S. rig count decreased by 15 to 913 following last week's decrease of 8 (32.68 -0.47)
Futures settle $0.42 higher to $51.93/barrel.
In other energy, Nov Natural Gas settled up $0.05 at $2.92/MMBtu
On the metals:
Dec Gold lost $9.70 to settle at $1280.3/oz, while Dec silver lost $0.22 to $17.04/oz
Dec copper settled flat at $3.17/lb
Finally, agriculture:
Dec Corn settled down $0.01 at $3.44/bu.
Nov soy settled flat at $0.34/bu.
Dec wheat settled flat at $4.26/bu.

Dow: +143.25… | Nasdaq: +21.81… | S&P: +11.09…

NASDAQ Adv/Dec 1525/1172. …NYSE Adv/Dec 1685/1237.

03:00PM ET

[BRIEFING.COM] Equity indices look poised for another record finish moving into the final stretch. The Dow is up 0.6%, while the Nasdaq and the S&P 500 sport gains of 0.4% apiece. For the week, the S&P 500 is higher by 0.8%.

Seven sectors are currently trading in the green--financials (+1.1%), industrials (+1.0%), technology (+0.8%), materials (+0.7%), consumer discretionary (+0.3%), energy (+0.1%), and health care (+0.1%)--while four are trading in the red--telecom services (unch), utilities (-0.2%), real estate (-0.3%), and consumer staples (-0.4%).

Released earlier this afternoon, the Treasury Budget for September showed a surplus of $8.0 billion versus a surplus of $33.4 billion for September 2016.

Dow: +130.28… | Nasdaq: +26.60… | S&P: +11.32…

NASDAQ Adv/Dec 1611/1129. …NYSE Adv/Dec 1684/1214.

02:30PM ET

[BRIEFING.COM] The major indices continue trending upward this afternoon, with the Dow (+0.6%) showing relative strength.

Biotechnology stocks have struggled today, sending the iShares Nasdaq Biotechnology ETF (IBB 331.83, -3.28) lower by 1.0%. Biotech giant Celgene (CELG 122.21, -13.79) shows particular weakness, dropping 10.2%, after the company announced that it will stop developing its Crohn's disease drug mongersen. That announcement was followed by downgrades from Citigroup and Robert W. Baird.

The bearish bias has been a drag on the S&P 500's health care sector (+0.1%), which trades a ways behind the broader market. Still, the group is hovering near the top of the weekly leaderboard with a week-to-date gain of 1.8%, thanks to solid performances on both Tuesday and Thursday.

Dow: +148.65… | Nasdaq: +33.47… | S&P: +12.96…

NASDAQ Adv/Dec 1652/1123. …NYSE Adv/Dec 1705/1188.

02:00PM ET

[BRIEFING.COM] The major averages continue extending their gains, notching new record highs with each upward tick. The S&P 500 is up 0.5%.

General Electric (GE 23.61, +0.02) has popped into positive territory this afternoon, bouncing back from a loss of around 8.0% at the opening bell. The industrial giant reported below-consensus earnings this morning and issued disappointing guidance for fiscal year 2017, but has been climbing higher since hitting its session low in the opening minutes of the session.

In the bond market, U.S. Treasuries are still solidly lower. Yields, which move inversely to Treasury prices, are higher across the curve, with the benchmark 10-yr yield trading six basis points above its flat line at 2.38%. Today's advance leaves the 10-yr yield with a ten point gain for the week.

Dow: +137.42… | Nasdaq: +32.31… | S&P: +11.46…

NASDAQ Adv/Dec 1720/1084. …NYSE Adv/Dec 1670/1232.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to charge higher in the final trading day of the week, with stocks currently near the best levels of the day.

A look inside the Dow Jones Industrial Average shows that UnitedHealth Group (UNH 207.62, +4.37), Goldman Sachs (GS 244.61, +4.62), & JP Morgan (JPM 99.76, +1.65) are outperforming amid broad market strength.

Conversely, Procter & Gamble (PG 87.98, -3.61) is the worst-performing Dow component as shares pullback following mostly in-line quarterly results that were released this morning.

For the week, the DJIA is up 1.86% as stocks etch further record highs.

Dow: +134.20… | Nasdaq: +32.45… | S&P: +11.35…

NASDAQ Adv/Dec 1766/1021. …NYSE Adv/Dec 1652/1224.

12:55PM ET

[BRIEFING.COM] Stocks have climbed to new record highs in the first half of Friday's session after the Senate voted in favor of a budget blueprint for 2018 on Thursday evening--a crucial step for an eventual tax overhaul. The S&P 500, the Nasdaq, the Dow, and the Russell 2000 currently trade near their best marks of the day, sporting gains between 0.4% and 0.6%.

The next step for the Senate will be to reconcile its version of the budget with the version that the House passed earlier this month. If the two sides can come to an agreement, Republicans will have the ability to pass tax reform without any support from the Democrats under the reconciliation process--which requires only a simple majority in the Senate versus the typical 60-vote threshold.

Financials have rallied around the news, sending the heavily-weighted financial sector (+1.1%) to the top of today's leaderboard. The group has also benefited from a curve-steeping sell off in the Treasury market; the 2-yr yield is up two basis points at 1.58% while the benchmark 10-yr yield is up six basis points at 2.38%.

Higher yields have translated into higher demand for the dollar; the U.S. Dollar Index is up 0.6% at 93.57.

The S&P 500's technology sector, which is the only group more influential than financials, also trades ahead of the broader market this afternoon. PayPal (PYPL 70.19, +2.94) is the group's strongest component, climbing 4.2%, after reporting better-than-expected earnings and revenues and issuing upbeat revenue guidance for the fourth quarter.

On the flip side, industrial giant General Electric (GE 23.25, -0.33) has tumbled to a four-year low after missing earnings estimates and issuing disappointing earnings guidance for fiscal year 2017. The company is currently down 1.2%, but the industrial sector (+0.7%) has been able to shake off the negative performance.

Meanwhile, the consumer staples sector (-0.5%) hasn't been so lucky, however, and currently trades at the bottom of the leaderboard. Within the group, Procter & Gamble (PG 87.97, -3.62) shows particular weakness, despite reporting above-consensus earnings this morning. P&G shares are lower by 4.0%.

Also of note, athletic shoemaker Skechers USA (SKX 33.38, +9.38) has surged 39.1% today after soundly beating earnings expectations for the third quarter.

Reviewing Friday's economic data, which was limited to September Existing Homes Sales:

Existing home sales for September increased 0.7% from August to an annualized rate of 5.39 million units while the Briefing.com consensus expected a reading of 5.29 million. The prior month's reading was left unrevised at 5.35 million.
The key takeaway from the report is that notable supply constraints remain, which will continue to act as a drag on overall sales due to the limited inventory and the high prices on available inventory that is crimping affordability.

Dow: +124.11… | Nasdaq: +31.82… | S&P: +10.09…

NASDAQ Adv/Dec 1772/10222. …NYSE Adv/Dec 1632/1238.

12:25PM ET

[BRIEFING.COM] The major averages have ticked up to new session, and all-time, highs in recent action, with the S&P 500 now sporting a gain of 0.4%.

Athletic shoemaker Skechers USA (SKX 32.87, +8.81) has surged 36.6% today after soundly beating earnings expectations for the third quarter. Today's advance places SKX shares at their best level in over a year and has had a positive effect on other athletic names like Nike (NKE 53.32, +0.63) and Under Armour (UAA 17.24, +0.79), which are up 1.2% and 4.8%, respectively.

In Washington, recent reports indicate that Fed Chair Janet Yellen is back at the White House today after a short meeting with the president on Thursday. At the moment, many consider current Fed Governor Jerome Powell and Stanford University economist John Taylor the two front runners to replace Ms. Yellen when her current term ends in February.

However, Ms. Yellen could be reappointed for another term and both former Fed Governor Kevin Warsh and chief economic advisor Gary Cohn are still in the mix.

Dow: +115.47… | Nasdaq: +27.29… | S&P: +9.13…

NASDAQ Adv/Dec 1739/1054. …NYSE Adv/Dec 1644/1202.

11:55AM ET

[BRIEFING.COM] Stocks are still hovering modestly higher, relatively unchanged from their opening levels. The S&P 500 is up 0.3%, while the Dow (+0.5%) and the Nasdaq (+0.4%) have done slightly better.

In the bond market, U.S. Treasuries have continued extending their losses this morning, sending yields higher across the curve; the benchmark 10-yr yield is up seven basis points at 2.39%, while the 2-yr yield is up two basis points at 1.58%. Higher yields have translated into higher demand for the dollar and a 0.7% increase for the U.S. Dollar Index (93.64).

Meanwhile, gold futures are down 0.7% at $1,280.98/ozt and the CBOE Volatility Index (9.84, -0.20)--often referred to as the "investor fear gauge"--is lower by 2.0%.

Dow: +113.80… | Nasdaq: +27.28… | S&P: +8.78…

NASDAQ Adv/Dec 1751/1019. …NYSE Adv/Dec 1691/1149.

11:30AM ET

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

The consumer staples group (-0.4%) is hovering at the bottom of today's sector standings, extending its week-to-date loss to 1.5%. Procter & Gamble (PG 88.64, -2.94) is the weakest component within the group, losing 3.2%, despite reporting above-consensus earnings and reaffirming its guidance for fiscal year 2018. Today's decline places PG shares at a three-month low.

Meanwhile, the industrial group (+0.3%) has kept pace with the broader market, despite General Electric's (GE 22.86, -0.73) disappointing performance. The company has tumbled 3.1% after missing earnings estimates and issuing below-consensus earnings guidance for fiscal year 2017. GE shares currently hover at their worst level in over four years.

Dow: +88.01… | Nasdaq: +23.94… | S&P: +7.60…

NASDAQ Adv/Dec 1725/1049. …NYSE Adv/Dec 1654/1161.

11:00AM ET

[BRIEFING.COM] The major U.S. indices are still floating near their opening levels this morning, with all three--the Dow, the S&P 500, and the Nasdaq--sporting gains of around 0.3% apiece. The S&P 500 and the Dow trade at fresh all-time highs.

Seven sectors are currently trading in the green--financials (+0.8%), technology (+0.6%), materials (+0.6%), industrials (+0.3%), energy (+0.2%), utilities (+0.2%), and consumer discretionary (+0.2%)--while four trade in the red--health care (-0.1%), real estate (-0.1%), consumer staples (-0.4%), and telecom services (-0.5%).

Within the financial sector--which is the day's top-performing group thus far--heavyweights like JPMorgan Chase (JPM 99.17, +1.06), Wells Fargo (WFC 54.74, +0.99), and Bank of America (BAC 27.05, +0.47) exhibit particular strength, showing gains between 1.1% and 1.9%.

Dow: +68.12… | Nasdaq: +20.07… | S&P: +6.86…

NASDAQ Adv/Dec 1733/1025. …NYSE Adv/Dec 1689/1114.

10:30AM ET

[BRIEFING.COM] Commodities begin the day flat:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 85.39
Dollar index is currently up 0.36% at 93.61
Dec WTI crude is up 0.35% on the day.
Futures are $0.18 higher to $51.69/barrel.
In other energy, Nov natural gas is unchanged $0 at $2.87/MMBtu
Metals:
Dec gold gained $5.1 and trades at $1284.9/oz, while Dec silver gained $0.02 to $17.24/oz
Dec copper gained 0.01 to $3.18/lb
Finally, agriculture:
Dec corn is down $0.03 at $3.46/bu.
Nov soy is unchanged $0 at $0.34/bu.
Dec wheat is down $0.01 at $4.32/bu.

Dow: +77.01… | Nasdaq: +26.07… | S&P: +8.38…

NASDAQ Adv/Dec 1671/1069. …NYSE Adv/Dec 1669/1070.

10:05AM ET

[BRIEFING.COM] Equity indices continue drifting modestly above their unchanged marks.

Just in, existing home sales for September increased 0.7% from August to an annualized rate of 5.39 million units while the Briefing.com consensus expected a reading of 5.29 million. The prior month's reading was left unrevised at 5.35 million.

Dow: +70.39… | Nasdaq: +28.59… | S&P: +8.10…

NASDAQ Adv/Dec 1696/965. …NYSE Adv/Dec 1590/1100.

09:45AM ET

[BRIEFING.COM] The major U.S. indices are trading modestly higher in the opening minutes of today's session, with the S&P 500 sporting a gain of 0.3%.

Most of the 11 sectors are trading in positive territory, but the energy (-0.3%) and consumer staples (-0.4%) groups do show notable weakness. The top performers in early action are the top-weighted financials (+0.8%) and technology (+0.6%) sectors, which comprise around 35.0% of the broader market combined.

The week's top-performing sector--health care (-0.1%)--is struggling to keep pace in the early going as biotechs lag. Celgene (CELG 124.09, -11.85) is the sector's weakest component, sliding 8.8%, after announcing that it will stop developing its Crohn's disease drug mongersen.

Dow: +46.84… | Nasdaq: +24.96… | S&P: +6.62…

NASDAQ Adv/Dec 1749/856. …NYSE Adv/Dec 1641/992.

09:13AM ET

[BRIEFING.COM] S&P futures vs fair value: +7.80. Nasdaq futures vs fair value: +20.90.

The U.S. equity market looks poised to open today's session in the green as the S&P 500 futures currently trade eight points, or 0.3%, above fair value. The benchmark index has finished at a new record high each day this week and enters today's session with a week-to-date gain of 0.4%.

Republicans are a step closer to fulfilling their tax reform promise after the Senate approved a budget blueprint for 2018 on Thursday evening. The upper chamber will now have to reconcile its version with the version that the House passed earlier this month. If the two sides can reach an agreement, Republicans will have the ability to pass tax reform without any support from the Democrats.

Corporate news is plentiful again this morning as earnings season continues. Industrial heavyweight General Electric (GE 21.69, -1.89) has plunged 8.1% in pre-market trade after reporting below-consensus earnings and issuing disappointing earnings guidance for fiscal year 2017. Conversely, PayPal (PYPL 71.87, +4.62) has jumped 7.1% after beating both top and bottom line estimates.

Meanwhile, Skechers USA (SKX 30.76, +6.78) has surged 28.2% after the athletic shoemaker blew past earnings estimates for the third quarter.

Outside the equity market, U.S. Treasuries are trading lower this morning, with longer-dated issues showing relative weakness; the yield on the benchmark 10-yr Treasury note is up five basis points at 2.37%. The U.S. Dollar Index is up 0.4% at 93.40, with the greenback climbing 0.7% against the Japanese yen--which is considered a safe-haven asset--to 113.30.

Today's lone economic report--September Existing Homes Sales (Briefing.com consensus 5.29 million)--will be released at 10:00 ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +18.50.

The S&P 500 futures trade seven points, or 0.3%, above fair value.

Equity indices in the Asia-Pacific region ended the week on a higher note with Japan's Nikkei settling just above its flat line to record its 14th consecutive advance. Reports in Chinese press indicated that Shanghai is planning to open a free-trade port. China's Ministry of Finance ordered ten banks to meet on October 25 to discuss the proposed offering of unrated dollar-denominated 5- and 10-yr notes. Japan's Finance Minister Taro Aso said that internal reserves of Japanese companies have grown too large and should be used for investments and wages.

In economic data:
South Korea's September PPI +0.3% month-over-month (last 0.3%); +3.2% year-over-year (last 3.2%)
New Zealand's September External Migration & Visitors +3.1% (last 5.8%). Visitor Arrivals +0.3% month-over-month (last -0.4%) and Credit Card Spending +4.9% year-over-year (last 6.4%)

---Equity Markets---

Japan's Nikkei settled just above its flat line, gaining 1.4% for the week. SUMCO, Dainippon Screen Manufacturing, Yaskawa Electric, Tosoh, Kao, Ebara, Bridgestone, Sumitomo Metal Mining, Mitsui Chemicals, and TOTO posted gains between 1.1% and 3.7%.
Hong Kong's Hang Seng jumped 1.2% to end the week little changed. Geely Automobile spiked 5.8% after leading Thursday's decline. Financials and property names like Ping An Insurance, Link Reit, ICBC, China Overseas, Sino Land, and SHK Properties advanced between 1.5% and 3.8%.
China's Shanghai Composite added 0.3%, narrowing this week's gain to 0.4%. Gansu Qilianshan Cement, Bright Real Estate Group, Shanghai Shenda, and Shanghai Pudong Road & Bridge Construction rose between 7.9% and 10.0%.
India's Sensex was closed for Diwali-Balipratipada. The index gained 1.8% for the week.

Major European indices trade on a modestly higher note while Italy's MIB (+0.7%) outperforms. German Chancellor Angela Merkel said she wants to secure a Brexit deal with Britain, but claimed that British Prime Minister May's Brexit stance is 'insufficient' at this juncture. UK's Brexit minister David Davis reportedly warned officials that plans should be in place for how to proceed in case the two sides are unable to reach a deal. European Council President Donald Tusk said that there is no doubt that the situation in Spain is concerning, but there is no place for EU mediation or international action in Spain.

In economic data:
Eurozone Current Account surplus EUR33.30 billion (expected surplus of EUR26.20 billion; last surplus of EUR31.50 billion)
Germany's September PPI +0.3% month-over-month (expected 0.1%; last 0.2%); +3.1% year-over-year (consensus 2.9%; last 2.6%)
UK's September Public Sector Net Borrowing GBP5.33 billion (expected GBP5.70 billion; last GBP4.14 billion)

---Equity Markets---

France's CAC is up 0.1% with ArcelorMittal up 2.8% to lead the way. Financials also outperform with Credit Agricole, Societe Generale, BNP Paribas, and AXA rising between 0.7% and 1.9%. On the downside, consumer names like Accor, Louis Vuitton, Danone, and L'Oreal are down between 0.7% and 3.1%.
UK's FTSE trades higher by 0.2%. Select miners outperform with Antofagasta, Rio Tinto, and Glencore rising between 0.6% and 2.7%. Financials like Standard Chartered, RBS, RSA Insurance, Barclays, Prudential, and HSBC have added between 0.9% and 2.6%.
Germany's DAX has added 0.1% with Deutsche Bank rising 1.3% while other heavyweights like Lufthansa, Thyssenkrupp, BASF, Allianz, and Adidas are up between 0.3% and 1.0%.
Italy's MIB trades up 0.7%. UniCredit leads, rising 2.4%, while Telecom Italia, Saipem, Fiat, Banco Bpm, Banca Generali, Intesa Sanpaolo, Mediobanca, and UBI Banca sport gains between 0.4% and 1.8%.

08:26AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.90. Nasdaq futures vs fair value: +16.10.

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

Fed Chair Janet Yellen met with President Trump at the White House on Thursday to discuss the possibility of her staying on as Fed chief for another four-year term. If the president goes with someone else, the top candidates to replace Ms. Yellen are current Fed Governor Jerome Powell, former Fed Governor Kevin Warsh, Stanford University economist John Taylor, and the president's chief economic advisor Gary Cohn.

Politico reported on Thursday afternoon that Mr. Trump is leaning toward Mr. Powell for the nomination. The president is expected to make his final decision before he leaves for an 11-day trip to Asia on November 3.

08:01AM ET

[BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +20.10.

Equity futures are pointing to a higher start for the U.S. equity market, which has settled at a new record close for the last four sessions in a row. The S&P 500 futures are currently trading seven points above fair value and, at that level, the benchmark index is poised to open with a gain of 0.3%. For the week, the S&P 500 comes into Friday with a week-to-date gain of 0.4%.

The Senate took an expected, but important, step toward tax reform last night, approving a budget blueprint for 2018. The upper chamber will now have to reconcile its version with the version that the House passed earlier this month. If the two sides can reach an agreement, Republicans will have the ability to pass tax reform without any support from the Democrats.

Coming into today's session, the health care (+1.7% WTD) and utilities (+1.3% WTD) groups are hovering at the top of the week's sector standings, while the consumer staples (-1.0% WTD), energy (-0.7% WTD), and real estate (-0.7%) groups are sitting at the bottom. In total, six sectors hold week-to-date gains and five hold week-to-date losses.

U.S. Treasuries are trading lower this morning, with longer-dated issues showing relative weakness. The yield on the benchmark 10-yr Treasury note is up four basis points at 2.36%, while the 2-yr yield is flat at 1.56%. For the week, the 2-yr yield and the 10-yr yield have climbed six basis points and eight basis points, respectively.

Meanwhile, the U.S. Dollar Index is up 0.3% at 93.26--which places the index 0.3% above last Friday's closing level. The greenback's strength has worked against WTI crude futures, which are currently down 0.7% at $51.15/bbl. For the week, the commodity is down 0.6%.

Investors will receive just one economic report today--September Existing Homes Sales (Briefing.com consensus 5.29 million)--which will be released at 10:00 ET.

In U.S. corporate news:

General Electric (GE 21.97, -1.61): -6.8% after missing earnings estimates and issuing disappointing earnings guidance for fiscal year 2017.
Procter & Gamble (PG 90.39, -1.20): -1.3% despite reporting better-than-expected earnings.
PayPal (PYPL 70.22, +2.97): +4.4% after beating both top and bottom line estimates and issuing upbeat revenue guidance for the fourth quarter.
Celgene (CELG 127.85, -8.11): -6.0% after announcing that it will stop developing its Crohn's disease drug mongersen.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a higher note with Japan's Nikkei settling just above its flat line to record its 14th consecutive advance. Japan's Nikkei unch, Hong Kong's Hang Seng +1.2%, China's Shanghai Composite +0.3%. India's Sensex was closed for Diwali-Balipratipada.
In economic data:
South Korea's September PPI +0.3% month-over-month (last 0.3%); +3.2% year-over-year (last 3.2%)
New Zealand's September External Migration & Visitors +3.1% (last 5.8%). Visitor Arrivals +0.3% month-over-month (last -0.4%) and Credit Card Spending +4.9% year-over-year (last 6.4%)
In news:
China's Ministry of Finance ordered ten banks to meet on October 25 to discuss the proposed offering of unrated dollar-denominated 5- and 10-yr notes.
Japan's Finance Minister Taro Aso said that internal reserves of Japanese companies have grown too large and should be used for investments and wages.
Reports in Chinese press indicated that Shanghai is planning to open a free-trade port.

Major European indices trade on a modestly higher note while Italy's MIB (+0.8%) outperforms. France's CAC +0.2%, UK's FTSE +0.3%, Germany's DAX +0.3%.
In economic data:
Eurozone Current Account surplus EUR33.30 billion (expected surplus of EUR26.20 billion; last surplus of EUR31.50 billion)
Germany's September PPI +0.3% month-over-month (expected 0.1%; last 0.2%); +3.1% year-over-year (consensus 2.9%; last 2.6%)
UK's September Public Sector Net Borrowing GBP5.33 billion (expected GBP5.70 billion; last GBP4.14 billion)
In news:
German Chancellor Angela Merkel said she wants to secure a Brexit deal with Britain, but claimed that British Prime Minister May's Brexit stance is 'insufficient' at this juncture. UK's Brexit minister David Davis reportedly warned officials that plans should be in place for how to proceed in case the two sides are unable to reach a deal.
European Council President Donald Tusk said that there is no doubt that the situation in Spain is concerning, but there is no place for EU mediation or international action in Spain.

05:54AM ET

[BRIEFING.COM] S&P futures vs fair value: +6.80. Nasdaq futures vs fair value: +17.30.
05:54AM ET

[BRIEFING.COM] Nikkei

...21458...+9.10...+0.00%

Hang Seng

...28487...+328.20...+1.20%

05:54AM ET

[BRIEFING.COM] FTSE

...7543.66...+20.60...+0.30%

DAX

...13017.25...+27.20...+0.20%

04:30PM ET

[BRIEFING.COM] Stocks clawed their way back from early weakness on Thursday and managed to reach positive territory for the fifth session in a row. The S&P 500 (unch) and the Dow (unch) both posted new record closes thanks to a final push higher in the final minutes of the session. Meanwhile, the Nasdaq and the Russell 2000 underperformed, losing 0.3% and 0.2%, respectively.

The S&P 500's technology sector declined by 0.4% on Thursday, with its largest component by market cap--Apple (AAPL 155.98, -3.78)--showing particular weakness. The company fell 2.4% following overnight reports that iPhone 8 orders are weaker than expected and the new Apple Watch is having cellular connection issues in China.

eBay (EBAY 37.29, -0.68) was another notable laggard within the tech space after the e-commerce company issued weak guidance for the fourth quarter; EBAY shares lost 1.8%. On a positive note, software giant Adobe Systems (ADBE 171.73, +18.73) surged 12.2%, hitting a fresh record high, after issuing above-consensus guidance for fiscal year 2018.

The consumer staples space (-0.6%) was the only sector to finish below technology on the day's leaderboard. Phillip Morris (PM 108.15, -4.36), the maker of cigarette brand Marlboro, was the sector's weakest component, tumbling 3.9%, after reporting disappointing profits and revenues for the third quarter and issuing below-consensus earnings guidance for fiscal year 2017.

Meanwhile, health care stocks rallied, extending their gains from the prior two sessions. Within the health care sector--which added 0.6%--Gilead Sciences (GILD 81.59, +1.58) showed particular strength (+2.0%) after the FDA approved the company's lymphoma therapy drug Yescarta.

Wireless giant Verizon (VZ 49.21, +0.56) finished with a gain of 1.2% after reporting upbeat earnings for the third quarter. However, the company's performance was somewhat disappointing considering it opened with a gain of around 3.0%. The lightly-weighted telecom services group added 0.5%.

Financial names finished mixed, leaving the S&P 500's financial sector (+0.2%) slightly higher. American Express (AXP 91.90, -0.18) and Travelers (TRV 133.17, +3.15) embodied the mixed theme; TRV shares climbed 2.4% on better-than-expected top and bottom lines while AXP shares lost 0.2% after announcing that CEO Kenneth Chenault will be stepping down after 16 years at the helm.

Transports finished slightly behind the broader market, evidenced by the Dow Jones Transportation Average (-0.1%), with United Continental (UAL 59.78, -8.21) pacing the modest retreat. The airline plunged 12.1% after disappointing guidance overshadowed its better-than-expected earnings.

In the bond market, U.S. Treasuries advanced on Thursday, but intraday selling pressured the market off its morning high. The benchmark 10-yr yield slipped two basis points to 2.32% after trading as high as 2.35% in overnight action. Meanwhile, the U.S. Dollar Index dropped 0.3% to 93.02.

Also of note, Politico reported in the late afternoon that Fed Governor Jerome Powell is the leading candidate to become the next Fed Chair. President Trump is expected to make his decision before he leaves for an 11-day trip to Asia on November 3.

Reviewing Thursday's economic data, which included the weekly Initial Claims Report, the Philadelphia Fed Index for October, and the Conference Board Leading Economic Index for September:

The latest weekly initial jobless claims count totaled 222,000 while the Briefing.com consensus expected a reading of 236,000. Today's tally was below the revised prior week count of 244,000 (from 243,000). As for continuing claims, they declined to 1.888 million from the revised count of 1.904 million (from 1.889 million).
The key takeaway from this report, which saw some disruptions in claims taking procedures in Puerto Rico and the Virgin Islands, is that the low level of claims should translate into some lofty nonfarm payroll expectations for October since this report covered the week in which the household survey was conducted.
The Philadelphia Fed Survey for October rose to 27.9 from an unrevised 23.8 in September while economists polled by Briefing.com had expected a reading of 20.0.
The key takeaway from the report is that the monthly increase was led by gains in labor market indicators, with the current employment index increasing 24 points to a record-high reading of 30.6.
The Conference Board Leading Economic Index decreased 0.2% in September, while economists polled by Briefing.com expected an increase of 0.1%. The prior month's increase was left unrevised at 0.4%.
The key takeaway from the report is that the downturn had hurricane fingerprints on it with key negative contributions from initial claims, building permits, and the average workweek.

On Friday, investors will receive just one economic report--September Existing Homes Sales (Briefing.com consensus 5.29 million)--which will be released at 10:00 ET.

Nasdaq Composite +22.7% YTD
Dow Jones Industrial Average +17.2% YTD
S&P 500 +14.4% YTD
Russell 2000 +10.7% YTD

Dow: +5.44… | Nasdaq: -19.15… | S&P: +0.84…

NASDAQ Adv/Dec 1187/1371. …NYSE Adv/Dec 1471/1396.

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

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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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http://www.thestrategylab.com
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