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 Post subject: October 23rd Monday Trade Results - No Trades
PostPosted: Mon Oct 23, 2017 9:13 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3020
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
TheStrategyLab Reviews: http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)

Quote:
No trades today as explained in today's archived 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=2676

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: -54.67… | Nasdaq: -42.23… | S&P: -10.23…
NASDAQ Vol: 1.81 bln… Adv: 832… Dec: 1630…
NYSE Vol: 757.3 mln… Adv: 1002… Dec: 1922…

Moving the Market

Stocks retreat from record highs as investors take some money off the table ahead of this week's batch of earnings

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

[BRIEFING.COM] Stocks moved lower on Monday, ending a week-long stretch of record finishes. The major indices kept near their flat lines throughout the morning, but tumbled to new lows in the afternoon. The S&P 500 lost 0.4%, while the Nasdaq and the Russell 2000 underperformed, losing 0.6% and 0.8%, respectively. The Dow finished ahead of its peers, but still lost 0.2%.

Earnings season took somewhat of a breather on Monday, but will pick back up Tuesday morning with releases from McDonald's (MCD 163.34, -2.96), 3M (MMM 221.55, +0.23), Caterpillar (CAT 131.68, +0.32), and United Technologies (UTX 120.89, -0.04)--in addition to many other heavyweights.

Still, there were several notable post-earnings movers on Monday, including V.F. Corp (VFC 69.95, +3.57), Seagate Tech (STX 39.35, +4.41), and Hasbro (HAS 89.75, -8.44).

V.F. Corp--which owns apparel brands like Wrangler and The North Face--and disk-drive maker Seagate Tech soared 5.4% and 12.6%, respectively, after reporting better-than-expected earnings and revenues. Conversely, toymaker Hasbro plunged 8.6% after issuing disappointing sales guidance for the holiday season, which overshadowed the company's above-consensus earnings.

Outside of earnings, industrial giant General Electric (GE 22.32, -1.51) dropped 6.3% after both Morgan Stanley and UBS downgraded GE shares on the heels of Friday's underwhelming earnings report. The S&P 500's industrial sector declined by 0.8%, settling alongside the consumer discretionary (-0.7%) and telecom services (-1.0%) groups at the bottom of the sector standings.

Within the consumer discretionary space, Under Armour (UAA 16.85, -0.63) exhibited particular weakness, losing 3.6%, after the Wall Street Journal reported that co-founder Kip Fulks is taking a sabbatical and that the sportswear manufacturer is considering exiting small sports categories such as tennis and fishing.

On a positive note, the heavily-weighted financial sector (-0.1%) held up relatively well, finishing near the top of the day's leaderboard. The countercyclical consumer staples (-0.1%) and utilities (+0.1%) sectors also put together a relatively positive showing. Following Monday's slim victory, the utilities space leads all other groups for the month of October with a month-to-date gain of 3.5%.

Elsewhere, European equities ticked higher on Monday, evidenced by the Euro Stoxx 50 index, which added 0.1%. However, Spain's IBEX (-0.8%) underperformed after Prime Minster Mariano Rajoy invoked Article 155 of Spain's constitution, which allows the central government to take control of the Catalonia region following its vote in favor of independence.

In Asia, Japan's Nikkei rose 1.1% on Monday, marking its 15th consecutive advance--and longest-ever winning streak--after the LDP/Komeito coalition kept its super majority following a national election over the weekend. As a result, Prime Minister Shinzo Abe will likely serve another three-year term.

There wasn't much movement in the U.S. Treasury market on Monday, with the benchmark 10-yr yield finishing unchanged at 2.38%. Shorter-dated issues showed relative weakness, sending the 2-yr yield one basis point higher to 1.58%. Meanwhile, the U.S. Dollar Index jumped 0.2% to 93.75.

Investors did not receive any economic data on Monday, and Tuesday's economic calendar is also blank.

Nasdaq Composite +22.4% YTD
Dow Jones Industrial Average +17.8% YTD
S&P 500 +14.6% YTD
Russell 2000 +10.3% YTD

Dow: -54.67… | Nasdaq: -42.23… | S&P: -10.23…

NASDAQ Adv/Dec 832/1630. …NYSE Adv/Dec 1002/1922.

03:30PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.4% at 85.6115
Dollar index is currently up 0.2% at 93.89
Oct WTI Crude is up 0.15% on the day.
Futures settle $0.08 higher to $51.92/barrel.
In other energy, Nov Natural Gas settled up $0.07 at $2.99/MMBtu
On the metals:
Dec Gold gained $0.40 to settle at $1280.9/oz, while Dec silver lost $0.04 to $17.04/oz
Dec copper settled flat at $3.17/lb
Finally, agriculture:
Dec Corn settled unchanged at $3.51/bu.
Nov soy settled flat at $0.35/bu.
Dec Wheat settled down $0.01 at $4.36/bu.

Dow: -23.45… | Nasdaq: -31.75… | S&P: -7.09…

NASDAQ Adv/Dec 931/1803. …NYSE Adv/Dec 1053/1877.

03:00PM ET

[BRIEFING.COM] The major U.S. indices enter the final hour of action hovering near their lowest marks of the day. The Nasdaq leads the retreat with a loss of 0.3%. The S&P 500 is lower by 0.2%, while the Dow trades just a tick below its flat line.

Looking ahead, investors will receive a sizable batch of earnings reports tomorrow. McDonald's (MCD 164.02, -2.28), 3M (MMM 221.98, +0.66), United Technologies (UTX 120.96, +0.03), Eli Lilly (LLY 87.67, +0.44), Lockheed Martin (LMT 321.15, +1.15), Caterpillar (CAT 131.63, +0.27), Biogen (BIIB 329.53, -8.57), and General Motors (GM 45.27, -0.34) are all due to report before the opening bell, while AT&T (T 35.32, -0.21) and Texas Instruments (TXN 95.91, +0.73) will report after the close.

However, the economic calendar will be blank once again on Tuesday. The week's first notable piece of economic data will be September Durable Orders (Briefing.com consensus 1.3%), which will be released on Wednesday at 8:30 ET.

Dow: -3.33… | Nasdaq: -21.28… | S&P: -4.56…

NASDAQ Adv/Dec 988/1784. …NYSE Adv/Dec 1109/1810.

02:30PM ET

[BRIEFING.COM] The major averages have continued to slide from their flat lines in recent action, with the S&P 500 now showing a loss of 0.2%.

Under Armour (UAA 16.87, -0.60) has moved sharply lower in recent action following a Wall Street Journal report that co-founder Kip Fulks is taking a sabbatical and that the sportswear manufacturer is considering exiting small sports categories such as tennis and fishing. UAA shares were down 0.6% ahead of the release and now show a loss of 3.2%.

Elsewhere, Fat Brands (FAT 12.94, +0.94)--a franchising company that helps develop casual dining restaurants--is trading at $12.94 per share after pricing 2 million shares at $12.00 per share. In general, small caps are struggling today, evidenced by the Russell 2000, which is lower by 0.5%.

Dow: -7.12… | Nasdaq: -23.62… | S&P: -4.99…

NASDAQ Adv/Dec 978/1808. …NYSE Adv/Dec 1098/1797.

01:55PM ET

[BRIEFING.COM] Equities have slipped a bit in recent action, dragging the major indices to their lowest marks of the day. The S&P 500 is down 0.1%.

Transports trade a step behind the broader market this afternoon, evidenced by the Dow Jones Transportation Average, which is down 0.2%. Within the DJTA, airlines show particular weakness, sending the U.S. Global Jets ETF (JETS 30.72, -0.26) lower by 0.8%. Meanwhile, logistics heavyweights FedEx (FDX 225.58, +0.51) and UPS (UPS 119.92, +0.16) hold modest gains of around 0.2% apiece.

The S&P 500's industrial sector (-0.5%), which houses transport names, hovers near the bottom of today's sector standings. The lightly-weighted telecom services space (-0.6%) is the only sector that holds a wider decline than industrials.

Dow: +5.05… | Nasdaq: -15.18… | S&P: -2.12…

NASDAQ Adv/Dec 1057/1732. …NYSE Adv/Dec 1172/1720.

01:35PM ET

[BRIEFING.COM] The major U.S. indices have seen some modest weakness since our last update as stocks continue to trade mixed to begin the week.

A look inside the Dow Jones Industrial Average shows that Johnson & Johnson (JNJ 144.27, +1.87), Nike (NKE 53.70, +0.64), & Home Depot (HD 165.41, +1.98) are outperforming. J&J is at fresh all-time highs as shares tack on further gains in the wake of last week's strong earnings report, while Nike is benefiting from a better than expected quarter from Vans maker VF Corporation (VFC 70.25, +3.87).

Conversely, General Electric (GE 22.35, -1.48) is the worst-performing Dow component after shares were downgraded at both UBS & Morgan Stanley this morning in response to Friday's underwhelming earnings report.

With small gains to kick off the trading week, the DJIA is now up 4.18% in October.

Dow: +8.90… | Nasdaq: -9.44… | S&P: -1.48…

NASDAQ Adv/Dec 1129/1675. …NYSE Adv/Dec 1199/1688.

01:05PM ET

[BRIEFING.COM] The major U.S. indices have wobbled near their flat lines through the first half of Monday's session as investors play it safe ahead of another earnings-filled week. The S&P 500 hovers at its unchanged mark, while the Dow (+0.1%) shows relative strength and the Nasdaq (-0.1%) shows relative weakness. All three major indices finished Friday at fresh record highs.

Earnings were relatively light this morning, but there have been a few notable post-earnings movers nonetheless. On a positive note, apparel company V.F. Corp (VFC 70.73, +4.35)--which owns brands like Wrangler, The North Face, and Timberland--and disk-drive maker Seagate Tech (STX 39.37, +4.43) have jumped 6.6% and 12.7%, respectively, after reporting better-than-expected earnings and revenues.

Conversely, toymaker Hasbro (HAS 89.47, -8.72) has plunged 9.0% after issuing disappointing sales guidance for the holiday season.

Outside of earnings, industrial giant General Electric (GE 22.35, -1.48) has tumbled 6.2% today, approaching last Friday's post-earnings low, after both Morgan Stanley and UBS downgraded GE shares. The S&P 500's industrial sector, which houses GE, hovers at the bottom of the sector standings with a loss of 0.5%.

The health care sector (+0.2%) is currently hovering at the opposite end of the sector leaderboard, trading just a tick above the technology (+0.1%) and materials (+0.1%) groups. Within the top-weighted technology space, chipmakers show notable strength, sending the PHLX Semiconductor Index higher by 1.0%.

In Europe, Germany's DAX and France's CAC finished with respective gains of 0.1% and 0.3%, while the UK's FTSE settled at its unchanged mark. Spain's IBEX declined by 0.8% after Prime Minster Mariano Rajoy invoked Article 155 of Spain's constitution, which allows the central government to take control of a region if it breaches the law. In this case that region is Catalonia, which voted for independence earlier this month.

Elsewhere, Japan's Nikkei rose 1.1% on Monday, marking its 15th consecutive advance--and longest-ever winning streak--after Prime Minister Shinzo Abe's Liberal Democratic Party-led coalition kept its two-thirds super majority following a national election.

In the U.S. bond market, Treasuries are modestly higher this afternoon, with the benchmark 10-yr Treasury yield slipping one basis point to 2.37%. Meanwhile, the U.S. Dollar Index is up 0.2% at 93.77 and WTI crude futures are up 0.3% at $51.97/bbl.

Investors did not receive any economic data on Monday.

Dow: +16.70… | Nasdaq: -6.79… | S&P: -0.69…

NASDAQ Adv/Dec 1148/1660. …NYSE Adv/Dec 1230/1645.

12:30PM ET

[BRIEFING.COM] The major averages are still trading relatively flat this afternoon, with the tech-heavy Nasdaq (-0.2%) exhibiting relative weakness.

Six of the eleven sectors are trading in the red, but losses are pretty modest overall. For instance, the industrial sector is the weakest space and holds a loss of just 0.5%. On the flip side, the health care sector is the top-performing group with a modest gain of 0.3%.

In Europe, Germany's DAX and France's CAC finished with respective gains of 0.1% and 0.3%, while the UK's FTSE settled at its unchanged mark. Spain's IBEX declined by 0.8% after the country's prime minster invoked Article 155 of Spain's constitution, seeking to dissolve the Catalan government and call an election within six months.

Elsewhere, Japan's Nikkei rose 1.1%, marking its 15th consecutive advance--and longest-ever winning streak--after Prime Minister Shinzo Abe easily won a national election.

Dow: +12.46… | Nasdaq: -9.57… | S&P: -1.20…

NASDAQ Adv/Dec 1101/1699. …NYSE Adv/Dec 1181/1676.

11:55AM ET

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

The top-weighted technology sector is currently trading in line with the broader market, showing a loss of 0.1%. Within the group, mega-cap names like Facebook (FB 172.84, -2.14) and Alphabet (GOOGL 991.04, -14.03) show losses of 1.2% and 1.4%, respectively, while Microsoft (MSFT 79.09, +0.28) sports a modest gain of 0.3%.

Disk-drive maker Seagate Tech (STX 39.52, +4.58) is the group's strongest component, jumping 13.1%, after reporting better-than-expected earnings and revenues earlier this morning. Today's advance places the company at its best level since its last earnings release in late July, which proved to be a disappointment.

In the bond market, U.S. Treasuries are modestly higher late this morning, reclaiming a small portion of last week's losses. The benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, is down one basis point at 2.37% after climbing ten basis points over the last five sessions.

Dow: +21.01… | Nasdaq: -16.32… | S&P: -1.27…

NASDAQ Adv/Dec 1062/1724. …NYSE Adv/Dec 1193/1644.

11:25AM ET

[BRIEFING.COM] The S&P 500 still hovers near its unchanged mark, looking to register its sixth record finish in a row.

Apparel company V.F. Corp (VFC 70.28, +3.90)--which owns brands like Wrangler, The North Face, and Timberland--has jumped 5.9% in today's session after reporting better-than-expected earnings and revenues and issuing above-consensus guidance for fiscal year 2017. The company also raised its quarterly dividend 10.0% to $0.46 per share.

Elsewhere on the earnings front, Hasbro (HAS 89.46, -8.76) has plunged 8.9% so far today, after issuing disappointing revenue guidance for the fourth quarter. Fellow toymaker Mattel (MAT 15.39, -0.58) also shows a sizable loss, down 3.6%, ahead of its third quarter earnings release--which is scheduled for Thursday afternoon.

The consumer discretionary sector (unch), which houses the aforementioned names, trades roughly in line with the broader market.

Dow: +27.98… | Nasdaq: -14.63… | S&P: +0.17…

NASDAQ Adv/Dec 1079/1715. …NYSE Adv/Dec 1231/1588.

11:00AM ET

[BRIEFING.COM] Equity indices are mixed this morning; the Dow is up 0.1%, the S&P 500 is flat, and the Nasdaq is lower by 0.2%.

The influential health care sector has gotten off to a good start in early action, picking up where it left off last week. The group is up 0.5%, with heavyweights like Johnson & Johnson (JNJ 143.94, +1.54) and Pfizer (PFE 36.71, +0.29) sporting gains of 1.1% and 0.8%, respectively. However, biotech names lag, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 330.57, -1.23), which is down 0.4%.

On the flip side, the industrial sector hovers at the bottom of today's leaderboard with a loss of 0.4%. Within the group, General Electric (GE 22.71, -1.12) shows particular weakness, losing 4.7%, as downgrades from both Morgan Stanley and UBS have outweighed an upgrade from Bank of America/Merrill Lynch.

Dow: +19.93… | Nasdaq: -16.94… | S&P: -0.94…

NASDAQ Adv/Dec 1089/1689. …NYSE Adv/Dec 1164/1643.

10:30AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged at 85.27
Dollar index is currently flat at 93.86
Dec WTI crude is currently flat on the day.
Futures are $0.26 higher to $52.10/barrel.
In other energy, Nov natural gas is up $0.08 at $3/MMBtu
Metals:
Dec gold lost $5.10 and trades at $1275.4/oz, while Dec silver lost $0.16 to $16.92/oz
Dec copper remains unchanged at $3.18/lb
Finally, agriculture:
Dec corn is up $0.03 at $3.48/bu.
Nov soy is unchanged at $0.34/bu.
Dec wheat is flat at $4.29/bu.

Dow: +32.59… | Nasdaq: -14.87… | S&P: -0.02…

NASDAQ Adv/Dec 1082/1638. …NYSE Adv/Dec 1190/1590.

09:55AM ET

[BRIEFING.COM] The major indices are trading relatively flat this morning, with the Dow Jones Industrial Average (+0.2%) showing relative strength.

Within the Dow, Nike (NKE 53.67, +0.61), American Express (AXP 92.98, +0.89), and Home Depot (HD 164.85, +1.43) are the top performers, sporting gains between 0.9% and 1.2%. On the flip side, General Electric (GE 23.09, -0.74) is by far the worst performer, dropping 3.1%, after both Morgan Stanley and UBS downgraded GE shares earlier this morning.

On the earnings front, Dow components 3M (MMM 221.55, +0.23), McDonald's (MCD 165.59, -0.71), Caterpillar (CAT 131.72, +0.37), and United Tech (UTX 120.85, -0.08) will all report their quarterly results on Tuesday morning.

Dow: +35.80… | Nasdaq: -1.22… | S&P: +2.15…

NASDAQ Adv/Dec 1348/1298. …NYSE Adv/Dec 1428/1296.

09:45AM ET

[BRIEFING.COM] The major U.S. indices opened Monday's session with slim gains. The S&P 500 is currently up 0.1%.

Sector movement has been pretty modest in the early going as no group holds a gain, or loss, of more than 0.4%. The materials (+0.3%) and technology (+0.3%) groups show relative strength, while the telecom services (-0.4%), industrials (-0.3%), utilities (-0.3%), and real estate (-0.3%) spaces exhibit relative weakness.

In the bond market, U.S. Treasuries are trading modestly higher this morning, sending yields lower across the curve. The benchmark 10-yr yield is down one basis point at 2.37%.

Dow: +13.46… | Nasdaq: +4.14… | S&P: +0.48…

NASDAQ Adv/Dec 1241/1357. …NYSE Adv/Dec 1302/1338.

09:12AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +13.50.

The stock market is on track to open Monday's session in positive territory as the S&P 500 futures trade four points, or 0.2%, above fair value. The benchmark index enters today's session on a six-session winning streak and has settled at a fresh record high for five sessions in a row.

In earnings news, V.F. Corp (VFC 69.19, +2.81) is up 4.2% in pre-market trade after beating both top and bottom line estimates and raising its guidance for fiscal year 2017. Seagate Tech (STX 37.35, +2.41) is also trading solidly higher, adding 7.2%, after reporting above-consensus earnings and revenues.

On the flip side, Hasbro (HAS 96.01, -2.18) is down 2.2% after disappointing revenue guidance for the fourth quarter overshadowed better-than-expected earnings for the third quarter. Fellow toymaker Mattel (MAT 15.55, -0.42) is down 2.6% in sympathy and ahead of its Thursday earnings release.

According to FactSet, the blended earnings growth rate for the third quarter has dropped to 1.7% from 7.5% at the end of the second quarter with 17% of the S&P 500 having reported actual results so far. However, the downshift has been taken in stride, viewed more as the pause that refreshes rather than a downshift exposing some excesses.

U.S. Treasuries are trading flat this morning, with shorter-dated issues showing relative strength; the yield on the 2-yr Treasury note is down one basis point at 1.56%, while the benchmark 10-yr yield is unchanged at 2.38%. Meanwhile, the U.S. Dollar Index is up 0.3% at 93.88, WTI crude is up 0.3% at $52.01/bbl, and gold is down 0.5% at $1,274.74/ozt.

Investors will not receive any economic data on Monday.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +11.10.

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

Equity indices in the Asia-Pacific region began the week on a mostly higher note. The lower house election in Japan went about as well as Prime Minister Shinzo Abe could have expected. The LDP/Komeito coalition secured supermajority by winning at least 312 seats, up from 290 before the election. Prime Minister Shinzo Abe is expected to use the mandate to modify Japan's constitution to allow for more offensive military capabilities. Mr. Abe said that, barring a significant economic slowdown, a sales tax hike will take place in 2019. Bank of Korea Governor Lee Ju-yeol appeared in front of South Korea's parliament, saying that rate hikes are on the horizon, but they are not needed immediately.

In economic data:
China's September House Prices +6.3% year-over-year (last 8.3%)
Japan's Leading Index 107.2 (expected 106.8; last 106.8)
Hong Kong's September CPI +1.4% year-over-year (last 1.9%)
South Korea's September PPI +0.5% month-over-month (last 0.5%); +3.6% year-over-year (consensus 3.4%; last 3.3%)
Singapore's September CPI +0.4% year-over-year, as expected (last 0.4%)

---Equity Markets---

Japan's Nikkei jumped 1.1%. Sumitomo Chemical, SUMCO, Ube Industries, Yamaha, Shin-Etsu Chemical, Trend Micro, Toho Zinc, Tokyo Electron, Fanuc, and Komatsu posted gains between 2.3% and 6.4%.
Hong Kong's Hang Seng lost 0.6%. Geely Automobile surrendered 2.1% while financials like ICBC, AIA Group, Bank of East Asia, Bank of China, China Construction Bank, and Hang Seng Bank posted losses between 1.0% and 2.1%.
China's Shanghai Composite added 0.1%. Long Yuan Construction Group, Shanghai Jin Jiang International Industrial Investment, Jilin Chengcheng Group, Shanghai Lingang Holdings Corp, and Bestsun Energy posted gains between 4.7% and 5.2%.
India's Sensex advanced 0.4% amid gains in more than half of its components. Bharti Airtel jumped 5.0% after a competitor hiked prices. Reliance Industries spiked 3.1% while tech consultants like Wipro, Infosys, and Tata Consultancy posted gains between 0.2% and 1.6%.

Major European indices trade on a mostly higher note while Spain's IBEX (-0.4%) underperforms amid a deepening crisis in Catalonia. Spain's Prime Minister invoked Article 155 of Spain's constitution, seeking to dissolve the Catalan government and call an election within six months. Catalan President Carles Puigdemont said that the measures, which represent the worst attack since Francisco Franco's regime ended, are unacceptable. In Italy, northern regions of Lombardy and Veneto voted in favor of greater autonomy. The two regions are not looking to break away from Italy, but they would like to have more say in distribution of tax revenue. Euroskeptic Andrej Babis is set to become Czech Republic's new prime minister. His election serves as a reminder that Southeastern and Eastern members of the European Union have become more vocal in their opposition to accepting a growing number of refugees and economic migrants.

In economic data:
UK's October CBI Industrial Trends Orders -2 (expected 9; last 7)

---Equity Markets---

France's CAC is higher by 0.4%. STMicroelectronics has climbed 1.9% while ArcelorMittal, Louis Vuitton, TechnipFMC, Airbus Group, and Total have risen between 0.8% and 1.5%. On the downside, Societe Generale and BNP Paribas are down 0.5% and 0.2%, respectively.
Germany's DAX trades up 0.2%. Growth-sensitive names lead the way with Thyssenkrupp, Heidelbergcement, Linde, and Siemens up between 0.6% and 0.8% while Volkswagen, Daimler, Adidas, and SAP show gains between 0.5% and 0.9%. Deutsche Bank is among the laggards, shedding 0.9%.
UK's FTSE is up 0.1%. Select consumer names are among the leaders with Imperial Brands, British American Tobacco, Burberry, Compass, Next, Pearson, and InterContinental Hotels rising between 0.4% and 1.2%. Financials like RSA Insurance, Standard Chartered, RBS, HSBC, and Barclays show losses between 0.3% and 1.6%.
Spain's IBEX is down 0.4%. Gamesa, Mediaset, Bankia, Bankinter, BBVA, Caixabank, Banco Sabadell, and Santander hold losses between 0.7% and 2.2%.

08:31AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +11.10.

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

Coming into today's session, eight of the S&P 500's eleven sectors are trading in the green for the month of October--technology (+3.8%), utilities (+3.5%), materials (+3.3%), financials (+3.0%), industrials (+2.6%), health care (+2.6%), real estate (+1.4%), and consumer discretionary (+1.3%). The three laggards are consumer staples (unch), energy (-0.9%), and telecom services (-4.7%).

The Dow is leading the major indices with a month-to-date gain of 4.1%, while the S&P 500 and the Nasdaq hold October advances of 2.2% and 2.1%, respectively.

08:01AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +9.60.

Equity futures are pointing to a modestly higher open for the U.S. equity market, which is looking to finish at a record high for the sixth session in a row; the S&P 500 futures are currently trading three points, or 0.1%, above fair value. For the month of October, the benchmark index has added 2.2% thus far.

Earnings season continues this week with nearly 200 S&P 500 companies on the docket, including heavyweights like AT&T (T), McDonald's (MCD), 3M (MMM), United Technologies (UTX), Caterpillar (CAT), Visa (V), Coca-Cola (KO), Boeing (BA), Alphabet (GOOGL), Microsoft (MSFT), Amazon (AMZN), Intel (INTC), Exxon Mobil (XOM), and Chevron (CVX).

Today's earnings calendar is relatively light, but things will pick up quickly starting tomorrow morning.

Investors will not receive any economic data today. The week's most notable reports are September Durable Orders (Briefing.com consensus 1.3%), September New Home Sales (Briefing.com consensus 555K), and the first estimate of third quarter GDP (Briefing.com consensus 2.4%). Durable Orders and New Home Sales will both be released on Wednesday, while Q3 GDP will cross the wires on Friday.

U.S. Treasuries are trading modestly lower this morning, sending yields higher across the curve; the benchmark 10-yr yield is up one basis point at 2.39%. Meanwhile, the U.S. Dollar Index is up 0.3% at 93.86, WTI crude is up 0.5% at $52.11/bbl, and gold is down 0.3% at $1,276.54/ozt.

In U.S. corporate news:

Halliburton (HAL 44.50, +1.17): +2.7% after reporting better-than-expected earnings and revenues.
V.F. Corp (VFC 69.10, +2.72): +4.1% after beating both top and bottom line estimates and raising its guidance for fiscal year 2017.
Foot Locker (FL 30.70, -0.59): -1.9% after Buckingham Research downgraded the company to 'Neutral' from 'Buy.'
Hasbro (HAS 96.99, -1.20): -1.2% after disappointing guidance overshadowed better-than-expected earnings.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mostly higher note. Japan's Nikkei +1.1%, Hong Kong's Hang Seng -0.6%, China's Shanghai Composite +0.1%, India's Sensex +0.4%.
In economic data:
China's September House Prices +6.3% year-over-year (last 8.3%)
Japan's Leading Index 107.2 (expected 106.8; last 106.8)
Hong Kong's September CPI +1.4% year-over-year (last 1.9%)
South Korea's September PPI +0.5% month-over-month (last 0.5%); +3.6% year-over-year (consensus 3.4%; last 3.3%)
Singapore's September CPI +0.4% year-over-year, as expected (last 0.4%)
In news:
The lower house election in Japan went about as well as Prime Minister Shinzo Abe could have expected. The LDP/Komeito coalition secured supermajority by winning at least 312 seats, up from 290 before the election. Prime Minister Shinzo Abe is expected to use the mandate to modify Japan's constitution to allow for more offensive military capabilities. Mr. Abe said that, barring a significant economic slowdown, a sales tax hike will take place in 2019.
Bank of Korea Governor Lee Ju-yeol appeared in front of South Korea's parliament, saying that rate hikes are on the horizon, but they are not needed immediately.

Major European indices trade on a mostly higher note while Spain's IBEX (-0.3%) underperforms amid a deepening crisis in Catalonia. France's CAC +0.6%, Germany's DAX +0.5%, UK's FTSE +0.2%.
In economic data:
UK's October CBI Industrial Trends Orders -2 (expected 9; last 7)
In news:
Spain's Prime Minister invoked Article 155 of Spain's constitution, seeking to dissolve the Catalan government and call an election within six months. Catalan President Carles Puigdemont said that the measures, which represent the worst attack since Francisco Franco's regime ended, are unacceptable.
In Italy, northern regions of Lombardy and Veneto voted in favor of greater autonomy. The two regions are not looking to break away from Italy, but they would like to have more say in distribution of tax revenue.
Euroskeptic Andrej Babis is set to become Czech Republic's new prime minister. His election serves as a reminder that Southeastern and Eastern members of the European Union have become more vocal in their opposition to accepting a growing number of refugees and economic migrants.

06:02AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +12.10.
06:02AM ET

[BRIEFING.COM] Nikkei

...21697...+239.00...+1.10%

Hang Seng

...28306...-181.40...-0.60%

06:02AM ET

[BRIEFING.COM] FTSE...7532.77...+9.50...+0.10%

DAX...13059.54...+68.30...+0.50%

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 Philip Morris (PM) were among the most notable laggards within the group. P&G slipped 5.2% despite reporting above-consensus earnings, while Philip 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.

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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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