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Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
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 Post subject: October 26th Thursday Trade Results - Profits $550.00
PostPosted: Thu Oct 26, 2017 8:25 pm 
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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)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $550.00 dollars or +11.00 points, Light Crude Oil CL ($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 @ $550.00 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. The risk of loss can be substantial. Therefore, you must carefully consider if trading is suitable for you within the context of your financial condition. We make no guarantees of success and your level of success is dependent upon other factors including your skill as a trader, knowledge, financial condition, market conditions and other factors. Trading is stressful and you should always consult a doctor in all matters relating to physical and mental health of you and your family because trading can impact beyond your financial condition regardless if you're a profitable or losing trader.

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=2679

All of my trades are posted real-time at the above link for today's archive chat log in the timestamp ##TheStrategyLab free chat room via the user name wrbtrader for anyone to do a real-time review (you must be a member of the chat room for a real-time review). Although the trades are posted by me and other users of WRB Analysis in real-time...this is not a signal calling chat room nor is this a live trading room that has a head trader telling you what to do. I'm the moderator (I keep the peace between members) and my own live trades are posted within 3.2 seconds on average after the trade confirmation in my broker trade execution platform via an auto script to minimize delays in posting of my trades. You can review today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility...all key concepts from the WRB Analysis free study guide even though the free chat room is not design to be an education chat room because the education is only performed at the forums in the private threads.

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

Image ##TheStrategyLab Chat Room is free. The free chat room is not a signal calling trading room nor is it a live trading room with a head trader even though members of the chat room are posting their trades & market analysis in real-time. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of TheStrategyLab free chat room is for you to use as your trade journal so that you can use as valuable feedback about your own trading and for members to help each other...as in more eyes on the market. In addition, we highly recommend that you use the free chat room with a professional trade journal software like tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because they can provide you with the quantitative statistical analysis of your trading. You can then download your results and post them in your private thread at the forum.

Also, you can use TheStrategyLab free chat room to ask real-time WRB Analysis questions. Yet, please do not post your quantitative statistical analysis, brokerage statements in the free chat room. Instead, its highly recommended that you only post that particular information in your private thread for security reasons. Yet, if you want to post that type of information at another website, blog or chat room...that's your choice.

TheStrategyLab free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages, many different mobile apps, many different types of social media software can be used to log in along with IRC being easier to moderate via script codes when trouble makers, spammers and trolls show up. I'm the moderator of the free chat room via the user name wrbtrader. Thus, I keep the peace between members without hesitation in removing problematic traders so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled or harassed.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell nor do we allow the free chat room to be used for mentoring because we do not offer a mentoring service. The purpose of TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. If you join the free chat room and then you decide to not post any WRB Analysis about the price action or you decide to not post your trades or you decide to be silent (lurk without saying a word about today's markets)...you're not using the free chat room properly to help improve your trading.

In fact, we do not want silent (lurkers) traders to join the free chat room unless they are actively posting at the forum about their trading after the markets close. Access instructions for the free chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Yet, I'm always backtesting new concepts of WRB Analysis, new trade entry rules, new trade management rules, new position size management rules before application in real money trades (small position size trades) to adapt to changed market conditions prior to large position size trades or sharing the new concepts with fee-base clients...living up to the name of my website. TheStrategyLab.

Also, posted below for you to review are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=331&t=3532 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives for easy review to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker PnL statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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

The Market at 04:30PM ET
Dow: +71.40… | Nasdaq: -7.12… | S&P: +3.25…
NASDAQ Vol: 2.1 bln… Adv: 1297… Dec: 1321…
NYSE Vol: 876.9 mln… Adv: 1516… Dec: 1410…

Moving the Market

Investors buy Wednesday's dip following latest batch of earnings

Biotech stocks slide after Celgene (CELG) lowers its long-term financial targets

House passes 2018 budget, setting the stage for tax reform

European Central Bank announces that it expects to lower its monthly asset purchases to EUR 30 billion from EUR 60 billion in January

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

[BRIEFING.COM] The U.S. equity market claimed a modest victory on Thursday, trimming its loss for the week. Stocks trended sideways for much of the session, but slipped in the final stretch to leave the major indices near the bottom of their narrow trading ranges. The Dow and the S&P 500 added 0.3% and 0.1%, respectively, while the tech-heavy Nasdaq shed 0.1%. The S&P 500 will enter Friday's session with a week-to-date loss of 0.6%.

Investors received another largely positive batch of earnings overnight, with most companies topping expectations. Twitter (TWTR 20.31, +3.17) was one of the most notable post-earnings advancers, rallying 18.5%, after beating earnings estimates and announcing that it could post its first profit ever in the fourth quarter. Similarly, Buffalo Wild Wings (BWLD 120.95, +19.80) soared 19.6% after blowing past profit estimates and raising its earnings guidance for the fiscal year.

Materials showed particular strength on Thursday, sending the S&P 500's materials sector (+1.4%) to the top of the sector standings. Within the group, DowDuPont (DWDP 73.05, +1.96) was among the strongest components, adding 2.8%, after providing upbeat preliminary earnings figures ahead of next week's earnings release.

The heavily-weighted financial sector (+0.6%) also outperformed, helped by the House's vote to pass a budget for fiscal year 2018--the same budget that the Senate passed last week. The budget approval was seen as an important step in the GOP's tax overhaul effort as it allows Republicans to pass a tax reform bill under the reconciliation process, which requires only a simple majority in the Senate vs the typical 60-vote threshold.

While the broader market moved higher on Thursday, the S&P 500's health care sector (-1.0%) struggled from start to finish, keeping the benchmark index's gain in check. Within the group, Celgene (CELG 99.99, -19.57) plunged 16.4% after missing revenue estimates for the third quarter and lowering its 2020 long-term financial targets. The larger biotech industry moved in tandem with Celgene, sending the iShares Nasdaq Biotechnology ETF (IBB 313.98, -7.47) lower by 2.3%.

On a related note, pharmacy names like Walgreens Boot Alliance (WBA 67.11, -2.25) and CVS Health (CVS 73.31, -2.22) dropped 3.2% and 2.9%, respectively, after President Trump declared the nation's opioid crisis a national public health emergency. Reports that Amazon (AMZN 972.43, -0.48) has obtained pharmacy licenses across several states also weighed on retail pharmacy shares.

Also, manged health care giant Aetna (AET 178.60, +18.48) spiked 11.5% in the final minutes of Thursday's session following reports that CVS might be interested in the company.

Elsewhere, the European Central Bank decided to leave interest rates unchanged and announced that it expects to lower its monthly asset purchases to EUR 30 billion from EUR 60 billion in January, as expected. That pace of purchases is expected to continue until at least the end of September 2018.

The euro tumbled 1.4% against the U.S. Dollar to 1.1650 following the ECB's announcement, hitting its lowest level since late July.

In the bond market, U.S. Treasuries ended Thursday on a lower note, with shorter-dated issues showing relative weakness. The benchmark 10-yr yield climbed one basis point to 2.45%, while the 2-yr yield jumped three basis points to 1.63%. Yields move inversely to prices.

Reviewing Thursday's economic data, which included weekly Initial Claims, September Pending Home Sales, the Advance report for International Trade in Goods for September, and the Advance report for Wholesale Inventories for September:

The latest weekly initial jobless claims count totaled 233,000 while the Briefing.com consensus expected a reading of 235,000. Today's tally was above the revised prior week count of 223,000 (from 222,000). As for continuing claims, they declined to 1.893 million from the revised count of 1.896 million (from 1.888 million).
Claims taking procedures continued to be disrupted in Puerto Rico and the Virgin Islands, yet the underlying message in the initial claims data is that it is consistent with a tight labor market.
Pending Home Sales were unchanged in September (0.0%). Today's reading follows an revised 2.8% decrease in August (from -2.6%).
The Advance report for International Trade in Goods for September showed a deficit of $64.1 billion, up from a deficit of $63.3 billion in August.
The Advance report for Wholesale Inventories for September showed an increase of 0.3%. The prior month's reading was revised to +0.8% from +0.9%.

On Friday, investors will receive the advance third quarter GDP report (Briefing.com consensus 2.4%) and the final reading of the University of Michigan Consumer Sentiment Index for October (Briefing.com consensus 101.0). The two reports will cross the wires at 8:30 ET and 10:00 ET, respectively.

Nasdaq Composite +21.8% YTD
Dow Jones Industrial Average +18.4% YTD
S&P 500 +14.4% YTD
Russell 2000 +10.3% YTD

Dow: +71.40… | Nasdaq: -7.12… | S&P: +3.25…

NASDAQ Adv/Dec 1297/1321. …NYSE Adv/Dec 1516/1410.

03:35PM ET

[BRIEFING.COM] Commodities end the day higher :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.03% at 85.9153
Dollar index is currently up 0.99% at 94.64
Oct WTI Crude is up 0.9% on the day.
EIA Natural gas inventory data showed a build of 64 bcf vs a build of 51 bcf in the prior week.
Futures settle $0.47 higher to $52.65/barrel.
In other energy, Nov Natural Gas settled down $0.02 at $3.06/MMBtu
On the metals:
Dec Gold lost $9.60 to settle at $1269.40/oz, while Dec silver lost $0.11 to $16.82/oz
Dec copper settled flat at $3.18/lb
Finally, agriculture:
Dec Corn settled unchanged at $3.51/bu.
Dec wheat settled flat at $4.32/bu.

Dow: +81.17… | Nasdaq: -5.32… | S&P: +3.72…

NASDAQ Adv/Dec 1286/1459. …NYSE Adv/Dec 1519/1401.

02:55PM ET

[BRIEFING.COM] The major averages are on track to post their second wins of the week moving into the final hour of action. The Dow leads with a gain of 0.4%.

Following today's closing bell, Amazon (AMZN 976.26, +3.35), Alphabet (GOOGL 995.58, +4.12), and Microsoft (MSFT 79.15, +0.53) will report their quarterly earnings. The three companies are among the heaviest components by market cap within the S&P 500 and have had a lot to do with the benchmark index's solid 2017 campaign, adding more than 25.0% apiece year to date.

Other notable companies on tonight's earnings docket include Intel (INTC 41.47, +0.68), Gilead Sciences (GILD 77.41, -2.48), and Expedia (EXPE 147.01, -0.88).

Dow: +98.03… | Nasdaq: +4.66… | S&P: +6.27…

NASDAQ Adv/Dec 1432/1359. …NYSE Adv/Dec 1552/1334.

02:25PM ET

[BRIEFING.COM] Equity indices have ticked up in recent action, returning to their best levels of the day. The S&P 500 is now sporting a gain of 0.3%.

The consumer discretionary sector (+0.7%) has been rallying as of late and now trades behind the materials group (+1.6%) at the top of the leaderboard. Dow component Nike (NKE 57.00, +2.07) is one of the strongest components within the consumer discretionary space, climbing 3.8% to a fresh two-month high, following yesterday's investor day, during which the company provided a solid five-year outlook.

Nike has had a bullish two week run, with today's advance placing the athletic shoe and apparel company 12.1% above its October 12 close.

Meanwhile, O'Reilly Auto (ORLY 211.61, +8.89) has also given the consumer discretionary space a boost, overcoming earlier weakness. The auto parts retailer reported better-than-expected earnings following yesterday's close, but issued below-consensus guidance for the fourth quarter. ORLY shares are currently up 4.5%.

Dow: +92.03… | Nasdaq: +6.49… | S&P: +7.00…

NASDAQ Adv/Dec 1440/1338. …NYSE Adv/Dec 1549/1326.

01:55PM ET

[BRIEFING.COM] Equity indices are still mostly higher, but the Nasdaq (unch) is currently flirting with its flat line.

Transports are outperforming the broader market this afternoon, evidenced by the Dow Jones Transportation Average, which is up 1.0%. Within the DJTA, railroad Union Pacific (UNP 115.47, +5.20) is the top performer, climbing 4.7%, after reporting above-consensus earnings and revenues this morning.

Conversely, Southwest Air (LUV 55.30, -1.86) and American Airlines (AAL 49.19, -1.86) are among the weakest components in the DJTA, even though both companies reported better-than-expected third quarter earnings. LUV and AAL shares currently show losses of around 3.6% apiece.

For the week, the Dow Jones Transportation Average is lower by 0.9%. For comparison, the S&P 500 is down 0.5% week to date.

Dow: +85.83… | Nasdaq: -1.17… | S&P: +5.61…

NASDAQ Adv/Dec 1440/1333. …NYSE Adv/Dec 1572/1293.

01:00PM ET

[BRIEFING.COM] Stocks have ticked higher today, trimming their losses for the week. The Dow (+0.3%) trades slightly above the benchmark S&P 500 (+0.2%), while the tech-heavy Nasdaq (unch) underperforms. Meanwhile, the small-cap Russell 2000 (+0.4%) shows relative strength.

The House passed a budget for fiscal year 2018 today--the same budget that the Senate passed last week--in a narrow 216-212 vote. This is an important step in the GOP's tax overhaul effort as it allows the party to pass a tax reform bill under the reconciliation process, which requires only a simple majority in the Senate vs the typical 60-vote threshold.

Financials within the S&P 500 have benefited from the vote, climbing 0.6%, but the lightly-weighted materials sector is today's top performer, with a gain of 1.3%. Chemical giant DowDuPont (DWDP 73.20, +2.11) has underpinned the materials group, adding 3.0%, after providing upbeat preliminary earnings figures; the company will report its quarterly results next week.

Investors received another large batch of earnings between yesterday's close and today's open. Some of the biggest post-earnings advancers have been Twitter (TWTR 20.16, +3.02) and Buffalo Wild Wings (BWLD 121.45, +20.30), which have surged 17.6% and 20.0%, respectively, after beating bottom-line estimates.

Conversely, Celgene (CELG 97.15, -22.44) is among the most notable post-earnings decliners, plunging 18.8%, after missing revenue estimates and lowering its long-term financial targets. The company's negative performance has been mimicked by the broader biotech industry and has left the influential health care sector (-0.9%) at the very bottom of today's sector standings.

Elsewhere, the European Central Bank decided to leave interest rates unchanged and announced that it expects to lower its monthly asset purchases to EUR 30 billion from EUR 60 billion in January, as expected. That pace of purchases is expected to continue until at least the end of September 2018.

The euro has dropped 1.1% against the U.S. Dollar to 1.1683 following the ECB's decision, hitting its lowest level in three months.

U.S. Treasuries are trading modestly higher this afternoon, overcoming initial weakness immediately following the ECB announcement. The benchmark 10-yr yield is down one basis point at 2.43%, while the 2-yr yield trades flat at 1.60%. Yields move inversely to prices.

Reviewing Thursday's economic data, which included weekly Initial Claims and September Pending Home Sales:

The latest weekly initial jobless claims count totaled 233,000 while the Briefing.com consensus expected a reading of 235,000. Today's tally was above the revised prior week count of 223,000 (from 222,000). As for continuing claims, they declined to 1.893 million from the revised count of 1.896 million (from 1.888 million).
Claims taking procedures continued to be disrupted in Puerto Rico and the Virgin Islands, yet the underlying message in the initial claims data is that it is consistent with a tight labor market.
Pending Home Sales were unchanged in September (0.0%). Today's reading follows an revised 2.8% decrease in August (from -2.6%).

Dow: +83.39… | Nasdaq: -0.87… | S&P: +4.89…

NASDAQ Adv/Dec 1440/1333. …NYSE Adv/Dec 1534/1306.

12:30PM ET

[BRIEFING.COM] Equities continue trending sideways this afternoon and have kept the S&P 500 (+0.3%) within a six-point range over the last two hours.

The real estate sector (-0.6%) is trading near the bottom of today's sector standings, with Public Storage (PSA 200.31, -9.69) leading the retreat. The self storage company has tumbled 4.6% today after reporting worse-than-expected revenues this morning. Fellow real estate heavyweight Simon Properties (SPG 162.58, -1.10) will report its third quarter results tomorrow morning.

Meanwhile, in the currency market, the U.S. dollar has climbed 1.0% against the euro to 1.1694 after the European Central Bank announced that the monthly size of asset purchases will be cut by 50.0% to EUR30 billion, starting in January.

Dow: +100.88… | Nasdaq: +4.86… | S&P: +7.57…

NASDAQ Adv/Dec 1543/1225. …NYSE Adv/Dec 1670/1167.

12:00PM ET

[BRIEFING.COM] The major U.S. indices have not changed since the last update; the S&P 500 still shows a gain of 0.3%.

In Washington, the House has approved a budget for fiscal year 2018--the same budget that the Senate passed last week--in a narrow 216-212 vote. The nonbinding resolution, which does not need to be signed by President Trump, paves the way for tax reform as it allows Republicans to use the reconciliation process, which requires only a simple majority in the Senate vs the typical 60-vote threshold.

U.S. Treasuries are trading modestly higher this afternoon, sending the benchmark 10-yr yield one basis point lower to 2.43%. Meanwhile, the 2-yr yield is trading flat at 1.60%.

Dow: +70.39… | Nasdaq: +3.63… | S&P: +5.55…

NASDAQ Adv/Dec 1581/1204. …NYSE Adv/Dec 1668/1149.

11:30AM ET

[BRIEFING.COM] The major U.S. indices continue to hover at their recent levels.

Chemical giant DowDuPont (DWDP 72.51, +1.43) has climbed 2.0% today after providing preliminary earnings figures, which showed that the company will likely beat earnings estimates when it reports its quarterly results next week. The S&P 500's materials sector (+0.9%) has benefited from DowDuPont's positive performance and currently trades at the top of the sector standings.

The heavily-weighted financial group (+0.8%) also outperforms this morning, with influential names like JPMorgan Chase (JPM 102.15, +1.13), Wells Fargo (WFC 56.00, +0.75), and Bank of America (BAC 27.93, +0.30) leading the way; the three lenders sport gains between 1.1% and 1.4%.

For the week, the financials (+0.8% WTD), materials (+0.7% WTD), and technology (+0.1% WTD) groups are the only sectors trading in the green.

Dow: +86.91… | Nasdaq: +6.11… | S&P: +6.44…

NASDAQ Adv/Dec 1624/1122. …NYSE Adv/Dec 1679/1129.

11:00AM ET

[BRIEFING.COM] The major averages are hovering a tick above their opening levels, with the Dow Jones Industrial Average (+0.5%) showing relative strength.

Within the Dow, Nike (NKE 56.40, +1.48) is the strongest performer, extending its two-day gain to 5.6%. The company provided a solid five-year outlook at its investor day on Wednesday, saying that it expects high single-digit revenue growth and double-digit earnings growth annually over that period. NKE shares are currently up 2.4%.

On the flip side, Pfizer (PFE 35.93, -0.23) and 3M (MMM 235.49, -2.21) are the weakest Dow components, dropping 0.7% and 1.0%, respectively.

Eight of the eleven sectors are trading in the green this morning, with financials (+0.7%), technology (+0.7%), and materials (+0.9%) being the top performers. The three laggards are the energy (-0.1%), health care (-0.6%), and real estate (-0.7%) groups.

Dow: +118.44… | Nasdaq: +14.27… | S&P: +8.34…

NASDAQ Adv/Dec 1656/1083. …NYSE Adv/Dec 1613/1169.

10:30AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently lower 0.13% at 85.7823
Dollar index is currently up 0.52% at 94.2
Dec WTI crude is down 0.11% on the day.
Futures are $0.06 lower to $52.12/barrel.
In other energy,
EIA nat gas inventory data showed a build of 64 bcf vs. a build of 51 bcf last week.
Nov natural gas is down $0.02 at $3.06/MMBtu
Metals:
Dec gold has lost $3.00 and trades at $1276/oz, while Dec silver has gained $0.01 to $16.94/oz
Dec copper has dropped 0.01 to $3.17/lb
Finally, agriculture:
Dec corn is unchanged at $3.51/bu.
Nov soy is up $0.01 at $0.35/bu.
Dec wheat is up $0.01 at $4.37/bu.

Dow: +118.50… | Nasdaq: +10.37… | S&P: +7.23…

NASDAQ Adv/Dec 1591/1135. …NYSE Adv/Dec 1650/1117.

10:00AM ET

[BRIEFING.COM] The major averages continue to hover near their opening levels; the S&P 500 is up 0.3%.

Just released, Pending Home Sales were unchanged in September (0.0%). Today's reading follows an revised 2.8% decrease in August (from -2.6%).

Dow: +118.78… | Nasdaq: +5.23… | S&P: +7.44…

NASDAQ Adv/Dec 1581/1100. …NYSE Adv/Dec 1644/1022.

09:40AM ET

[BRIEFING.COM] The major U.S. indices are mostly higher in the opening minutes of today's session, with the Dow (+0.4%) showing relative strength. The S&P 500 is up 0.2%, while the Nasdaq trades flat.

Most sectors are trading in the green this morning, but the health care group (-0.6%) is struggling as biotechnology names weigh. Celgene (CELG 96.84, -22.71) is leading the biotech retreat, with a loss of 19.1%, after the company missed revenue estimates and lowered its 2020 long-term financial targets.

Meanwhile, the top-weighted technology sector (+0.7%) trades near the top of the sector standings amid broad strength. Financials have also gotten off to a good start, as have materials and telecom services.

Dow: +100.65… | Nasdaq: +0.90… | S&P: +5.58…

NASDAQ Adv/Dec 1469/1126. …NYSE Adv/Dec 1523/1066.

09:16AM ET

[BRIEFING.COM] S&P futures vs fair value: +6.40. Nasdaq futures vs fair value: +2.00.

The U.S. equity market looks poised to reclaim some of its weekly loss at today's opening bell as the S&P 500 futures currently trade six points, or 0.2%, above fair value.

A number of notable companies have reported their quarterly earnings results since yesterday's closing bell. On the upside, Twitter (TWTR 18.89, +1.75) has surged 10.0% in pre-market trade after beating earnings estimates and announcing that it could post its first profit ever in the fourth quarter. Buffalo Wild Wings (BWLD 120.50, +19.35) is also solidly higher, up 19.1%, after blowing past earnings estimates and raising its earnings guidance for the fiscal year.

On the downside, Celgene (CELG 99.97, -19.59) has plunged 16.4% after missing revenue estimates and lowering its 2020 long-term financial targets. O'Reilly Auto (ORLY 188.00, -14.72) is also solidly lower this morning, losing 7.3%, after issuing disappointing fourth quarter earnings guidance. The automotive retailer did beat earnings estimates, however.

This afternoon's earnings calendar features some of the year's top advancers, including Amazon (AMZN 979.02, +6.11), Alphabet (GOOGL 997.93, +6.47), and Microsoft (MSFT 78.94, +0.31); the three names have added between 25.0% and 30.0% so far this year. Dow component Intel (INTC 40.97, +0.19) will also report following today's closing bell.

As expected, the European Central Bank decided to leave interest rates unchanged and announced that it expects to lower its monthly asset purchases to EUR 30 billion from EUR 60 billion in January. That pace of purchases is expected to continue until at least the end of September 2018. The euro is down 0.3% against the U.S. dollar at 1.775.

U.S. Treasuries are trading higher this morning, sending yields lower across the curve. The yield on the benchmark 10-yr Treasury note is down one basis point at 2.43% after settling at a seven-month high in the prior session. Meanwhile, the 2-yr yield is down two basis points at 1.58%.

As for economic data, the latest weekly initial jobless claims count totaled 233,000, while the Briefing.com consensus expected a reading of 235,000. Today's tally was above the revised prior week count of 223,000 (from 222,000). As for continuing claims, they declined to 1.893 million from the revised count of 1.896 million (from 1.888 million).

Today's last economic report--September Pending Home Sales--will cross the wires at 10:00 ET.

08:52AM ET

[BRIEFING.COM] S&P futures vs fair value: +6.40. Nasdaq futures vs fair value: +5.90.

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

Equity indices in the Asia-Pacific region ended Thursday on a mixed note, but Japan's Nikkei (+0.2%) climbed once again after recording its first decline in seventeen sessions on Wednesday. Chinese debt continued following U.S. Treasuries lower, pushing the 10-yr yield up three basis points to 3.79%. Reports indicate that orders for China's dollar-denominated $2 billion offering have exceeded $10 billion. South Korean press reported that China and South Korea are looking to resolve tensions surrounding the deployment of a U.S. THAAD System in South Korea.

In economic data:
Japan's Corporate Services Price Index +0.9% year-over-year, as expected (last 0.9%)
Australia's Q3 Import Price Index -1.6% quarter-over-quarter (expected -1.4%; last -0.1%). Export Price Index -3.0% quarter-over-quarter (expected -6.3%; last -5.7%)
New Zealand's September trade deficit NZD2.91 billion (expected deficit of NZD2.71 billion; last deficit of NZD3.15 billion)
South Korea's Q3 GDP +1.4% quarter-over-quarter (expected 1.0%; last 0.6%); +3.6% year-over-year (consensus 3.2%; last 2.7%)
Singapore's September Industrial Production -0.5% month-over-month (expected -6.7%; last 0.6%); +14.6% year-over-year (consensus 10.0%; last 19.5%)
Hong Kong's September trade deficit HDK44.70 billion (expected deficit of HKD38.50 billion; last deficit of HKD35.50 billion). September Imports +9.4% month-over-month (last 7.4%). September Exports +9.4% month-over-month (last 7.4%)

---Equity Markets---

Japan's Nikkei added 0.2%. Nisshin Steel Holdings, Toyobo, Panasonic, Japan Steel Works, DeNA, Sumitomo Metal Mining, Yamaha Motor, Canon, Furukawa Electric, Fast Retailing, Dainippon Screen Manufacturing, Shin-Etsu Chemical, and Tokyo Electron posted gains between 0.9% and 3.1%.
Hong Kong's Hang Seng lost 0.4%. Geely Automobile fell 2.1% while gaming names like Sands China, Tencent Holdings, and Galaxy Entertainment posted losses between 1.0% and 1.9%. Financials like Bank of China, China Life Insurance, BoC Hong Kong, and ICBC lost between 0.3% and 1.3%.
China's Shanghai Composite added 0.3%. Jiangxi Changjiu Biochemical, Zhuzhou Times New Materials Technology, Fangda Carbon New Material, and Shanghai Dragon posted gains between 5.0% and 6.4%.
India's Sensex rose 0.3% amid gains in more than half of its components. Maruti Suzuki, Bajaj Auto, Coal India, and Mahindra&Mahindra gained between 0.9% and 2.6% while financials were mixed. SBI and ICICI Bank posted respective losses of 1.3% and 2.1% while AXIS Bank gained 2.5% and HDFC Bank added 0.2%.

Major European indices trade in the green with Spain's IBEX (+1.9%) showing relative strength. Catalan President Carles Puigdemont was expected to call for a regional election in a speech scheduled for 6:30 ET, but called off the speech at the last minute. The European Central Bank decided to leave its interest rate corridor unchanged and announced that it expects to lower its monthly asset purchases to EUR 30 billion from EUR 60 billion in January. ECB President Mario Draghi is currently giving his post-decision press conference.

In economic data:
Eurozone September M3 Money Supply +5.1% year-over-year (expected 5.0%; last 5.0%) and Private Sector Loans +2.7% year-over-year (consensus 2.9%; previous 2.7%)
Germany's November GfK Consumer Climate 10.7 (expected 10.8; previous 10.8)
UK's October CBI Distributive Trades Survey -36 (expected 15; last 42)
Italy's October Consumer Confidence 116.1 (expected 114.9; last 115.6) and Business Confidence 111.0 (consensus 110.0; previous 110.5)
Spain's Q3 Unemployment Rate 16.4% (expected 16.5%; last 17.2%)

---Equity Markets---

Germany's DAX is higher by 0.6% with most components on the rise. Beiersdorf has jumped 5.0% while Henkel, Siemens, Adidas, Infineon, Linde, Allianz, and SAP show gains between 0.8% and 2.7%. Deutsche Bank is down 1.8%.
UK's FTSE has climbed 0.4% amid strength in miners and consumer stocks. Rio Tinto, Anglo American, BHP Billiton, and Glencore are up between 0.9% and 2.2% while British American Tobacco, Unilever, Paddy Power, Associated British Foods, Taylor Wimpey, and Diageo show gains between 0.7% and 2.4%.
France's CAC trades up 0.9% with STMicroelectronics spiking 7.1% after beating estimates and guiding higher. TechnipFMC, L'Oreal, Renault, BNP Paribas, Societe Generale, and Danone have added between 0.8% and 2.6%.
Spain's IBEX has jumped 1.9%. Banco Sabadell, Santander, Caixabank, BBVA, Bankia, ACS, Iberdrola, and Bankinter show gains between 1.4% and 4.8%.

08:33AM ET

[BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +6.60.

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

Just in, the latest weekly initial jobless claims count totaled 233,000 while the Briefing.com consensus expected a reading of 235,000. Today's tally was above the revised prior week count of 223,000 (from 222,000). As for continuing claims, they declined to 1.893 million from the revised count of 1.896 million (from 1.888 million).

08:00AM ET

[BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +13.40.

U.S. equities moved lower for the second time this week on Wednesday, leading some to believe that the market's most recent run to record highs may be running out of gas. That doesn't appear to be the case this morning, however, as the S&P 500 futures are currently trading seven points, or 0.2%, above fair value.

At that level, the benchmark index is poised to open Thursday's session about 13 points below its record close, which it posted just last Friday.

Earnings season is alive and well this morning, but will kick it into overdrive this afternoon when some of the year's top advancers, including Amazon (AMZN 976.69, +3.78), Alphabet (GOOGL 996.44, +4.98), and Microsoft (MSFT 78.89, +0.26), report their quarterly results. The three mega-cap names have added 29.7%, 25.1%, and 26.5% this year, respectively.

U.S. Treasuries are trading higher this morning, with longer-dated issues showing relative strength; the yield on the benchmark 10-yr Treasury note is down two basis points at 2.42%. The 10-yr yield finished Wednesday's session at a seven-month high.

The U.S. dollar has climbed 0.4% against the euro to 1.1770 after the European Central Bank decided to leave its interest rate corridor unchanged and announced that it expects to lower its monthly asset purchases to EUR 30 billion from EUR 60 billion in January. ECB President Mario Draghi's post-decision press conference will start at 8:30 ET.

On the data front, investors will receive just two economic reports today--weekly Initial Claims (Briefing.com consensus 235K) and September Pending Home Sales. The two pieces of data will cross the wires at 8:30 ET and 10:00 ET, respectively.

In U.S. corporate news:

Celgene (CELG 107.66, -11.90): -10.0% after missing revenue estimates and lowering its 2020 long-term financial targets.
Ford Motor (F 12.27, +0.23): +1.9% after reporting better-than-expected earnings and revenues.
Twitter (TWTR 18.72, +1.57): +9.2% after beating earnings estimates and announcing that it could post its first profit ever in the fourth quarter.
Buffalo Wild Wings (BWLD 122.30, +21.15) +20.9% after blowing past earnings estimates and raising its earnings guidance for the fiscal year.
CSX (CSX 50.90, -2.02): -3.8% after authorizing $1.5 billion in share repurchases.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a mixed note, but Japan's Nikkei (+0.2%) climbed once again after recording its first decline in 17 sessions on Wednesday. Hong Kong's Hang Seng -0.4%, China's Shanghai Composite +0.3%, India's Sensex +0.3%.
In economic data:
Japan's Corporate Services Price Index +0.9% year-over-year, as expected (last 0.9%)
Australia's Q3 Import Price Index -1.6% quarter-over-quarter (expected -1.4%; last -0.1%). Export Price Index -3.0% quarter-over-quarter (expected -6.3%; last -5.7%)
New Zealand's September trade deficit NZD2.91 billion (expected deficit of NZD2.71 billion; last deficit of NZD3.15 billion)
South Korea's Q3 GDP +1.4% quarter-over-quarter (expected 1.0%; last 0.6%); +3.6% year-over-year (consensus 3.2%; last 2.7%)
Singapore's September Industrial Production -0.5% month-over-month (expected -6.7%; last 0.6%); +14.6% year-over-year (consensus 10.0%; last 19.5%)
Hong Kong's September trade deficit HDK44.70 billion (expected deficit of HKD38.50 billion; last deficit of HKD35.50 billion). September Imports +9.4% month-over-month (last 7.4%). September Exports +9.4% month-over-month (last 7.4%)
In news:
Chinese debt continued following U.S. Treasuries lower, pushing the 10-yr yield up three basis points to 3.79%.
Reports indicate that orders for China's dollar-denominated $2 billion offering have exceeded $10 billion.
South Korean press reported that China and South Korea are looking to resolve tensions surrounding the deployment of a U.S. THAAD System in South Korea.

Major European indices trade in the green with Spain's IBEX (+1.9%) showing relative strength. Germany's DAX +0.4%, UK's FTSE +0.5%, France's CAC +0.6%.
In economic data:
Eurozone September M3 Money Supply +5.1% year-over-year (expected 5.0%; last 5.0%) and Private Sector Loans +2.7% year-over-year (consensus 2.9%; previous 2.7%)
Germany's November GfK Consumer Climate 10.7 (expected 10.8; previous 10.8)
UK's October CBI Distributive Trades Survey -36 (expected 15; last 42)
Italy's October Consumer Confidence 116.1 (expected 114.9; last 115.6) and Business Confidence 111.0 (consensus 110.0; previous 110.5)
Spain's Q3 Unemployment Rate 16.4% (expected 16.5%; last 17.2%)
In news:
As expected, the European Central Bank decided to leave its interest rate corridor unchanged and announced that it expects to lower its monthly asset purchases to EUR 30 billion from EUR 60 billion in January. ECB President Mario Draghi's post-decision press conference will start at 8:30 ET.
In Spain, Catalan President Carles Puigdemont is expected to call for a regional election to avoid the activation of Article 155.

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +7.90.
05:52AM ET

[BRIEFING.COM] Nikkei

...21740...+32.20...+0.20%

Hang Seng

...28202...-100.50...-0.40%

05:52AM ET

[BRIEFING.COM] FTSE

...7471.19...+24.00...+0.30%

DAX

...12980...+26.90...+0.20%

04:30PM ET

[BRIEFING.COM] Stocks declined for the second time in three sessions on Wednesday, but an afternoon rally left the major indices a ways above their session lows. The Dow (-0.5%) and the Nasdaq (-0.5%) finished roughly in line with the S&P 500, which lost 0.5%. The benchmark index traded within a wide range, holding a loss between 0.1% and 1.0% throughout the session.

The S&P 500's telecom services sector led the retreat, finishing with a loss of 2.3%, after AT&T (T 33.49, -1.37) reported worse-than-expected earnings and revenues for the third quarter; AT&T shares lost 3.9%. Industrials also showed relative weakness, losing 1.0%. Within the group, Boeing (BA 258.42, -7.58) was among the weakest performers, shedding 2.9%, despite beating profit estimates.

As for the other sectors, most finished roughly in line with the broader market. The top-weighted technology space (-0.3%) outperformed slightly, thanks in part to Visa (V 109.49, +1.08), which added 1.0% on better-than-expected earnings and revenues. Alphabet (GOOGL 991.46, +2.97) also showed relative strength ahead of Thursday evening's earnings release.

However, the tech sector's semiconductor components struggled after Advanced Micro (AMD 12.33, -1.92) forecasted a decline in revenue for the fourth quarter. The PHLX Semiconductor Index dropped 1.3%, while AMD shares plunged 13.5%.

Chipotle Mexican Grill (CMG 277.01, -47.29) also dropped significantly on Wednesday, losing 14.6%, after posting a big miss on earnings and lowering its comparable sales guidance. However, the consumer discretionary sector (-0.4%) still beat the broader market, thanks in large part to Nike (NKE 54.94, +1.52), which jumped 2.9% after providing a solid five-year outlook at its investor day.

Dow component Coca-Cola (KO 46.05, -0.13) also reported earnings on Wednesday, beating both top and bottom line estimates, but slipped 0.3% nonetheless.

U.S. Treasuries ended on a lower note, sending yields higher across the curve; the benchmark 10-yr yield climbed four basis points to 2.44%. Speculation that Stanford University economist John Taylor, who is considered relatively hawkish, is likely to become the next Fed Chair helped fuel the sell off.

Reviewing Wednesday's batch of economic data, which included September New Home Sales, September Durable Orders, the August FHFA Housing Price Index, and the weekly MBA Mortgage Applications Index:

New Home Sales in September hit an annualized rate of 667,000, which is above the revised August rate of 561,000 (from 560,000), and higher than the Briefing.com consensus of 555,000.
The key takeaway from the report is that the sales increases were broad-based, underscoring the point that the rebound in new home sales, which are counted when a contract is signed, was not just a function of a rebound from the depressed activity in the South due to the hurricanes.
September durable goods orders rose 2.2%, which is more than the 1.3% increase expected by the Briefing.com consensus. The prior month's reading was revised to +2.0% (from +1.7%). Excluding transportation, durable orders increased 0.7% (Briefing.com consensus +0.5%) to follow the prior month's revised uptick of 0.7% (from +0.2%).
The key takeaway from the report is that it is hard data that corroborates the upbeat readings in the soft manufacturing surveys; moreover, it is going to lead to stronger Q3 GDP forecasts given the 0.7% increase in shipments of nondefense capital goods excluding aircraft, which followed an upwardly revised 1.2% increase (from +0.7%) for August.
The FHFA Housing Price Index rose 0.7% in August (Briefing.com consensus 0.4%), while the July reading was revised to 0.4% from 0.2%.
The weekly MBA Mortgage Applications Index decreased 4.6% to follow last week's 3.6% increase.

On Thursday, investors will receive just two economic reports--weekly Initial Claims (Briefing.com consensus 235K) and September Pending Home Sales. The two pieces of data will cross the wires at 8:30 ET and 10:00 ET, respectively.

Nasdaq Composite +21.9% YTD
Dow Jones Industrial Average +18.1% YTD
S&P 500 +14.2% YTD
Russell 2000 +10.1% YTD

Dow: -112.30… | Nasdaq: -34.54… | S&P: -11.98…

NASDAQ Adv/Dec 925/1582. …NYSE Adv/Dec 762/2207.

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

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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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