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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: November 6th Monday Trade Results - No Trades
PostPosted: Tue Nov 07, 2017 8:35 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
TheStrategyLab Reviews: http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
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Twitter @ http://twitter.com/wrbtrader (24/7)

Quote:
No trades today because I did not sleep good last night and I felt too tired in the morning session...my favorite trading duration of the trading day. Thus, I used the day to do some personal things.

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. 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. TheStrategyLab.com is an education and research site. The resources on this site are provided for informational purposes only and should not be used to replace professional educational and professional research because we are retail traders only. TheStrategyLab.com does not accept liability for your use of the website and its resources.

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=173&t=2688

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=333&t=3556 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 RTY 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: +9.23… | Nasdaq: +22.00… | S&P: +3.29…
NASDAQ Vol: ---… Adv: 1431… Dec: 1306…
NYSE Vol: 852.6 mln… Adv: 1701… Dec: 1246…

Moving the Market

Crude oil spikes following political shake-up in Saudi Arabia; energy stocks rally

Telecoms slide after Sprint (S) and T-Mobile US (TMUS) end merger talks

Reports indicate that Walt Disney (DIS) and 21st Century Fox (FOXA) have been discussing a deal that would result in Disney owning most of 21st Century Fox

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

[BRIEFING.COM] The U.S. equity market ticked higher on Monday, with all three major indices rewriting the record highs they posted on Friday. The Nasdaq and the S&P 500 added 0.3% and 0.1%, respectively, while the Dow (unch) eked out a narrow victory. The major indices traded within a pretty narrow range from start to finish.

Energy stocks led Monday's advance as the price of crude oil rallied to its highest level since July 2015; WTI crude futures finished higher by 3.0% at $57.29/bbl. The price increase followed a weekend purge in Saudi Arabia, in which Crown Prince Mohammed bin Salman imprisoned dozens of princes, ministers, and ex-ministers on allegations of corruption. The S&P 500's energy sector finished at the top of the day's sector standings with a gain of 2.2%.

The consumer discretionary sector (+0.7%) also finished comfortably ahead of the broader market. Within the group, 21st Century Fox (FOXA 27.45, +2.48) and Walt Disney (DIS 100.64, +2.00) jumped 9.9% and 2.0%, respectively, following a CNBC report that the two companies have discussed a deal in recent weeks that would result in Disney owning most of 21st Century Fox. Meanwhile, Michael Kors (KORS 54.62, +7.00) surged 14.7% after reporting better-than-expected earnings and revenues.

Conversely, telecoms within the S&P 500 struggled on Monday, losing 2.4%, after Sprint (S 5.90, -0.77) and T-Mobile US (TMUS 55.54, -3.37) announced that they failed to reach a merger agreement; the two companies lost 11.5% and 5.7%, respectively. However, Charter Communications (CHTR 348.40, +12.97) jumped 3.9% following reports that Softbank--the parent company of Sprint--is now willing to re-explore acquisition talks with the company.

The consumer staples sector (-1.1%) also underperformed amid broad weakness. Within the group, pharmacy retailer CVS Health (CVS 66.80, -2.45) and food distributor Sysco (SYY 54.17, -2.49) dropped 3.5% and 4.4%, respectively, despite reporting above-consensus earnings.

In other corporate news, Broadcom (AVGO 277.52, +3.89) submitted a $70 per share takeover offer for Qualcomm (QCOM 62.52, +0.71), which, if completed, would mark the largest technology acquisition in history. However, CNBC reported that Qualcomm is expected to reject Broadcom's offer. The two chipmakers finished with respective gains of 1.4% and 1.2%.

Elsewhere, U.S. Treasuries finished mostly higher, with the yield on the benchmark 10-yr Treasury note slipping two basis points to 2.32%. However, the 2-yr Treasury note bucked the trend, sending its yield one basis point higher to 1.62%. Meanwhile, the U.S. Dollar Index slid 0.2% to 94.63.

Also of note, New York Fed President William Dudley announced his decision to retire in mid-2018. Mr. Dudley has headed the New York Fed since 2009.

Investors did not receive any economic data on Monday, but they will receive three reports on Tuesday--the NFIB Small Business Optimism Index at 7:00 ET, the September Job Openings and Labor Turnover Survey (JOLTS) at 10:00 ET, and September Consumer Credit (Briefing.com consensus $18.3 billion) at 15:00 ET.

Nasdaq Composite +26.1% YTD
Dow Jones Industrial Average +19.2% YTD
S&P 500 +15.7% YTD
Russell 2000 +10.4% YTD

Dow: +9.23… | Nasdaq: +22.00… | S&P: +3.29…

NASDAQ Adv/Dec 1431/1306. …NYSE Adv/Dec 1701/1246.

03:35PM ET

[BRIEFING.COM] Commodities end the day noticeably higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 1.47% at 88.1545
Dollar index is currently down 0.19% at 94.76
Oct WTI Crude is up 2.97% on the day.
Futures settle $1.65 higher to $57.29/barrel.
In other energy, Dec Natural Gas settled up $0.15 at $3.13/MMBtu
On the metals:
Dec Gold gained $12.20 to settle at $1281.4/oz, while Dec silver gained $0.40 to $17.23/oz
Dec Copper gained $0.04 to $3.16/lb
Finally, agriculture:
Dec Corn settled unchanged at $3.48/bu.
Dec soy settled flat at $9.94/bu.
Dec wheat settled flat at $4.31/bu.

Dow: +31.34… | Nasdaq: +25.32… | S&P: +5.27…

NASDAQ Adv/Dec 1596/1217. …NYSE Adv/Dec 1761/1177.

02:55PM ET

[BRIEFING.COM] The S&P 500 (+0.2%), the Dow (+0.1%), and the Nasdaq (+0.3%) are all on track to finish Monday's session at new record highs.

Five sectors are trading in the green this afternoon--energy (+1.9%), real estate (+1.6%), consumer discretionary (+0.7%), technology (+0.4%), and industrials (+0.1%)--while six are trading in the red--financials (-0.1%), health care (-0.2%), materials (-0.3%), utilities (-0.3%), consumer staples (-0.9%), and telecom services (-2.8%).

On the earnings front, several notable companies will deliver their quarterly results following today's closing bell, including Priceline (PCLN 1892.15, -2.34), TripAdvisor (TRIP 39.51, +0.63), Avis Budget (CAR 41.57, +0.60), and Weight Watchers (WTW 45.32, +0.64).

Dow: +30.78… | Nasdaq: +22.47… | S&P: +4.68…

NASDAQ Adv/Dec 1500/1339. …NYSE Adv/Dec 1706/1224.

02:30PM ET

[BRIEFING.COM] The major U.S. indices have not changed since the last update.

Transports have struggled to keep pace with the broader market today, evidenced by the Dow Jones Transportation Average, which is down 0.1%. Within the DJTA, FedEx (FDX 221.27, -2.97) is among the weakest components, showing a loss of 1.3%, and is on track to post its sixth consecutive decline. Meanwhile, airlines show relative strength, sending the U.S. Global Jets ETF (JETS 29.55, +0.17) higher by 0.6%.

Still, the S&P 500's industrial sector, which houses transport names, trades higher by 0.1%. Industrial heavyweights like Boeing (BA 264.12, +2.37) and Caterpillar (CAT 137.76, +1.13) have helped underpin the group with respective gains of 0.9% and 0.8%.

Dow: +23.43… | Nasdaq: +20.76… | S&P: +4.10…

NASDAQ Adv/Dec 1496/1338. …NYSE Adv/Dec 1664/1248.

02:00PM ET

[BRIEFING.COM] Equity indices have been ticking higher in recent action, hitting fresh session highs. The S&P 500 is up 0.2%.

21st Century Fox (FOXA 26.57, +1.60) has spiked in recent action following a CNBC report that the company has been talking with Walt Disney (DIS 99.45, +0.81) about a potential deal that would result in Walt Disney owning most of 21st Century Fox. The two sides are not currently engaged in discussions, but have talked over the last few weeks.

Fox shares were down 0.2% ahead of the report, but now trade higher by 6.4% Meanwhile, Disney shares have extended their gain to 1.3% from 0.5%. Media peers like Viacom (VIAB 23.93, +0.67), AMC Networks (AMCX 48.51, +0.96), and Discovery (DISCA 16.76, +0.25) sport gains between 1.7% and 3.1%.

Dow: +20.29… | Nasdaq: +21.01… | S&P: +3.92…

NASDAQ Adv/Dec 1527/1301. …NYSE Adv/Dec 1665/1225.

01:35PM ET

[BRIEFING.COM] After attempting to retest this morning's session highs since our last update, the major U.S. indices are holding firm with small gains at this time.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 116.85, +1.86), Apple (AAPL 174.76, +2.26), & Intel (INTC 46.59, +0.52) are outperforming. Chevron is leading the Dow as the energy sector rockets higher with WTI crude oil futures climbing 3%, surpassing $57/bbl, while Apple tacks on to Friday's earnings-driven gains.

Conversely, Verizon (VZ 45.38, -2.04) is the worst-performing Dow component as telecoms nosedive after T-Mobile US (55.33, -3.58) & Sprint (S 5.99, -0.68) officially called off their latest attempts to explore a merger.

With a quiet start to the week, the DJIA is now up 0.77% to start November.

Dow: +13.46… | Nasdaq: +18.09… | S&P: +3.12…

NASDAQ Adv/Dec 1576/1261. …NYSE Adv/Dec 1668/1214.

01:05PM ET

[BRIEFING.COM] The major U.S. indices--the S&P 500 (+0.1%), the Dow (+0.1%), and the Nasdaq (+0.2%)--are all trading just a tick above their flat lines at midday and have drifted within a narrow range since the opening bell. All three indices closed at record highs on Friday and have hit new intraday highs in today's session.

Energy stocks are leading today's advance amid a spike in the price of crude oil, which is trading higher by 2.5% at $57.03/bbl--its best level since July 2015. Today's advance follows a political shake-up in Saudi Arabia over the weekend, in which Crown Prince Mohammed bin Salman ordered the imprisoning of 11 princes, four ministers, and dozens of ex-ministers in an attempt to stamp out corruption and consolidate power. Saudi Arabia is the world's top oil producer.

The consumer discretionary sector (+0.5%) also shows notable strength, but it trades a ways behind the energy space (+1.8%). Within the consumer discretionary group, Michael Kors (KORS 54.54, +6.92) has surged 14.5% after reporting better-than-expected earnings and revenues. Meanwhile, Charter Communications (CHTR 350.17, +14.74) is up 4.4% following reports that Softbank, the parent company of Sprint (S 5.98, -0.69), is willing to re-engage in talks to acquire Charter after Sprint's potential merger with T-Mobile US (TMUS 55.34, -3.56) fell through over the weekend.

Sprint and T-Mobile are trading solidly lower, losing 10.3% and 6.0%, respectively, following the end of their merger talks.

In other corporate news, Broadcom (AVGO 272.20, -1.43) submitted a $70 per share takeover offer for Qualcomm (QCOM 62.89, +1.08) over the weekend. If completed, the deal would mark the largest technology acquisition in history. Broadcom is down 0.6% following the news, while Qualcomm is up 1.8%.

Elsewhere, U.S. Treasuries are trading higher this afternoon, with shorter-dated issues bouncing back from early weakness; the yield on the 2-yr Treasury note is down one basis point at 2.60%. Meanwhile, the benchmark 10-yr yield is down two basis points at 2.32%. Yields move inversely to prices.

Also of note, New York Fed President William Dudley announced that he will retire in mid-2018.

Investors did not receive any economic data on Monday.

Dow: +18.59… | Nasdaq: +16.15… | S&P: +3.10…

NASDAQ Adv/Dec 1583/1259. …NYSE Adv/Dec 1685/1203.

12:30PM ET

[BRIEFING.COM] Equity indices continue to drift a step above their unchanged marks.

CVS Health (CVS 67.32, -1.93) has tumbled 2.7%, hitting its lowest level since February 2014, despite reporting above-consensus earnings and in-line revenues this morning. Including today's slide, the pharmacy retailer has dropped 10.9% since October 26, which is when rumors surfaced that the company might bid $200 per share for Aetna (AET 176.76, -0.22). The S&P 500's consumer staples sector, which houses CVS, trades near the bottom of today's sector standings with a loss of 0.7%.

Meanwhile, the lightly-weighted real estate sector is up 1.7%, with wireless infrastructure names like American Tower (AMT 149.91, +7.81), Crown Castle (CCI 112.50, +5.99), and SBA Communications (SBAC 164.51, +9.98) pacing the advance. The three names have rallied on news that Sprint (S 5.97, -0.70) and T-Mobile US (TMUS 55.46, -3.49) have agreed to end their merger talks--thereby leaving more customers for wireless infrastructure names.

Dow: +5.01… | Nasdaq: +16.60… | S&P: +2.02…

NASDAQ Adv/Dec 1508/1318. …NYSE Adv/Dec 1602/1265.

12:00PM ET

[BRIEFING.COM] The major indices are still modestly higher, but the Nasdaq has trimmed its gain to 0.1% from 0.3% in recent action.

Oil prices have been climbing higher today, helping to push the S&P 500's energy sector (+1.6%) to the top of the day's sector standings. WTI crude futures are currently up 2.1% at $56.82/bbl, which marks their highest level since July 2015. The commodity has been supported by a political shake-up in Saudi Arabia--the world's largest oil producer.

Over the weekend, Saudi Crown Prince Mohammed bin Salman ordered the imprisoning of 11 princes, four ministers, and dozens of ex-ministers in an attempt to stamp out corruption and consolidate power.

Dow: +6.52… | Nasdaq: +7.82… | S&P: +1.26…

NASDAQ Adv/Dec 1462/1359. …NYSE Adv/Dec 1571/1287.

11:30AM ET

[BRIEFING.COM] The major averages are hovering near their recent levels, with the Dow Jones Industrial Average (unch) showing relative weakness.

Within the Dow, Verizon (VZ 45.28, -2.14) is by far the weakest component, losing 4.5%, following news that Sprint (S 5.81, -0.86) and T-Mobile (TMUS 55.36, -3.55) have ended their potential merger. The possible merger between Sprint and T-Mobile was seen as a positive for Verizon as it would have eliminated some competition within the wireless space. Meanwhile, Apple (AAPL 174.63, +2.13) and Boeing (BA 265.34, +3.56) are the Dow's top performers, sporting gains of around 1.3% apiece.

In the bond market, U.S. Treasuries are trading mixed, with longer-dated issues showing relative strength; the yield on the benchmark 10-yr Treasury note is down two basis points at 2.32%. Conversely, the 2-yr yield is up one basis point at 1.62%.

Dow: +8.64… | Nasdaq: +15.15… | S&P: +2.94…

NASDAQ Adv/Dec 1480/1350. …NYSE Adv/Dec 1577/1231.

10:55AM ET

[BRIEFING.COM] Equity indices are trading a tick above their unchanged marks this morning, with the S&P 500 sporting a gain of 0.1%.

The S&P 500's consumer discretionary sector (+0.6%) has outpaced the broader market so far today and currently trades near the top of the sector standings. Within the group, Michael Kors (KORS 54.31, +6.69) is the top performer, adding 14.0%, after reporting better-than-expected earnings and revenues. Today's advance places KORS shares at their best level since early April.

On the flip side, the consumer staples sector (-0.5%) underperforms amid broad weakness. Food distributor Sysco (SYY 54.89, -1.77) shows particular weakness, losing 3.3%, despite reporting above-consensus earnings and revenues. The company hit a fresh all-time high in front of its earnings release.

Dow: +21.50… | Nasdaq: +23.24… | S&P: +2.62…

NASDAQ Adv/Dec 1637/1151. …NYSE Adv/Dec 1638/1133.

10:30AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.73% at 87.516
Dollar index is currently up 0.07% at 95.01
Dec WTI crude is up 0.49% on the day.
Futures are $0.27 higher to $55.91/barrel.
In other energy, Dec natural gas is up $0.12 at $3.1/MMBtu
Metals:
Dec gold gained $3.30 and trades at $1272.50/oz, while Dec silver gained $0.12 to $16.95/oz
Dec copper gained 0.03 to $3.15/lb
Finally, agriculture:
Dec corn is up $0.02 at $3.50/bu.
Nov soy is up $0.04 at $9.91/bu.
Dec wheat is up $0.05 at $4.31/bu.

Dow: +15.69… | Nasdaq: +18.7… | S&P: +2.03…

NASDAQ Adv/Dec 1633/1150. …NYSE Adv/Dec 1672/1092.

09:55AM ET

[BRIEFING.COM] The S&P 500 continues to drift near its unchanged mark.

Chipmakers are broadly higher this morning, evidenced by the PHLX Semiconductor Index, which is up 1.1%. Within the semiconductor space, Advanced Micro (AMD 11.81, +0.68) is up 6.2% after the Wall Street Journal reported that the company has teamed up with Intel (INTC 46.43, +0.36) on PC chips in order to better compete with rival NVIDIA (NVDA 207.90, -0.80).

Meanwhile, Qualcomm (QCOM 64.80, +3.02) is also trading solidly higher, up 4.9%, after Broadcom (AVGO 280.19, +6.49) submitted a $70 per share takeover offer for the company. If completed, the deal would mark the largest technology acquisition in history.

Dow: -2.62… | Nasdaq: +10.45… | S&P: +0.42…

NASDAQ Adv/Dec 1413/1261. …NYSE Adv/Dec 1445/1218.

09:45AM ET

[BRIEFING.COM] The major U.S. indices are trading flat in the opening minutes of today's session, with the Nasdaq (+0.1%) showing relative strength.

Around half of the 11 sectors are trading in the green this morning, but gains have been limited for the most part. The lightly-weighted real estate group (+1.2%) is the top performer, followed by the energy space (+0.5%), which has been helped by the fact that the price of crude oil is hovering at its highest level since July 2015; WTI crude futures are up 0.2% at $55.76/bbl.

Meanwhile, the telecom services sector (-2.7%) trades at the bottom of the sector standings after Sprint (S 5.90, -0.76) and T-Mobile US (TMUS 55.81, -3.13) confirmed that they will not merge. The two wireless names are down 11.4% and 5.3%, respectively.

Dow: +2.89… | Nasdaq: +11.51… | S&P: +0.45…

NASDAQ Adv/Dec 1403/1236. …NYSE Adv/Dec 1442/1166.

09:11AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: +0.60.

The U.S. equity market is on track to open today's session slightly lower as the S&P 500 futures currently trade two points, or 0.1%, below fair value. As a reminder, all three major indices finished Friday at new record highs.

On the corporate front, Qualcomm (QCOM 64.62, +2.81) is up 4.7% after Broadcom (AVGO 278.89, +5.26) proposed to acquire the chipmaker for $70 per share in cash/stock--marking the largest technology deal ever if completed. Conversely, Sprint (S 5.88, -0.79) and T-Mobile US (TMUS 55.74, -3.17) are down 11.8% and 5.4%, respectively, following news that merger talks between the two companies have ended.

WTI crude futures are up 0.5% at $55.90/bbl this morning--marking their highest level since July 2015--after Saudi Crown Prince Mohammed bin Salman ordered the imprisoning of 11 princes, four ministers, and dozens of ex-ministers in an attempt to stamp out corruption and consolidate power. Saudi Arabia is the world's largest oil exporter.

Elsewhere, 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 two basis points at 2.32%, while the 2-yr yield is down one basis point at 1.60%. Yields move inversely to prices.

Also of note, New York Fed President William Dudley announced that he will retire in mid-2018.

Investors will not receive any economic data today.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: flat.

The S&P 500 futures trade two points, or 0.1%, below fair value.

Equity indices in the Asia-Pacific region began the week on a mostly higher note. However, the attention was on the Middle East, where Saudi Crown Prince Mohammed bin Salman ordered the imprisoning of 11 princes, four ministers, and dozens of ex-ministers. Senior Prince Mansour bin Muqrin and seven other officials were killed in a helicopter crash near Saudi Arabia's border with Yemen. In addition, Saudi Arabia announced that a missile fired from Yemen on Saturday could constitute an act of war by Iran. Saudi Arabia views Yemen's Houthi rebels as Iranian proxies. U.S. President Donald Trump met with Japan's Prime Minister Shinzo Abe today, noting that he expects Japan to buy "massive amounts of military equipment" from the United States.

In economic data:
Australia's MI Inflation Gauge +0.3% month-over-month (last 0.3%) and ANZ Job Advertisements +1.4% month-over-month (last -0.7%)
New Zealand's Inflation Expectations +2.0% quarter-over-quarter (last 2.1%) and ANZ Commodity Price Index -0.3% month-over-month (last 0.8%)

---Equity Markets---

Japan's Nikkei settled just above its flat line. Isuzu Motors, Yamaha Motor, Mitsubishi, Sony, Kikkoman, Fast Retailing, Honda Motor, and Pioneer gained between 1.4% and 3.7%. Mazda Motor fell 4.3% and Furukawa Electric dropped 15.7% after missing earnings expectations.
Hong Kong's Hang Seng ended just below its flat line. Property names and financials underperformed with New World Development, Hang Lung Properties, Henderson Land, Bank of East Asia, ICBC, and China Overseas falling between 1.2% and 1.7%. Apple supplier AAC Technologies jumped 10.0%.
China's Shanghai Composite rose 0.5%. Shengyi Technology, Hubei Xingfa Chemicals, Fiberhome Telecommunication Technologies, and Sanan Optoelectronics advanced between 6.5% and 8.1%.
India's Sensex added 0.1%. Tata Motors, Mahindra&Mahindra, Tata Consultancy, Wipro, and Maruti Suzuki climbed between 1.0% and 3.3%.

Major European indices trade relatively flat with Spain's IBEX (-0.3%) trailing its peers. Catalonia's former leader Carles Puigdemont was briefly detained in Brussels, but he is currently out on bail. Mr. Puigdemont is required to remain in Brussels until his extradition, which is expected in two weeks. Reports out of Italy indicate President Sergio Mattarella may dissolve Parliament before the end of the year in preparation for elections in March.

In economic data:
Eurozone September PPI +0.6% month-over-month (expected 0.4%; last 0.3%); +2.9% year-over-year (consensus 2.8%; last 2.5%). November Sentix Investor Confidence 34.0 (expected 30.8; last 29.7) and October Services PMI 55.0 (expected 54.9; last 54.9)
Germany's October Services PMI 54.7 (expected 55.2; last 55.2) and September Factory Orders +1.0% (expected -1.5%; last 4.1%)
France's October Services PMI 57.3 (expected 57.4; last 57.4)
Italy's October Services PMI 52.1 (expected 53.0; last 53.2)
Spain's October Services PMI 54.6 (expected 55.5; last 56.7)
Swiss October CPI +0.1% month-over-month (expected 0.2%; last 0.2%); +0.7% year-over-year (consensus 0.8%; last 0.7%)

---Equity Markets---

UK's FTSE is up 0.1%. Consumer names like Tesco, TUI, Morrison Supermarkets, Reckitt Benckiser, British American Tobacco, and InterContinental Hotels are down between 0.2% and 1.3%. Miners outperform with BHP Billiton, Anglo American, and Rio Tinto rising between 1.8% and 2.6%.
France's CAC is lower by 0.2% with financials showing relative weakness. Societe Generale has slid 3.8% while AXA, Credit Agricole, and BNP Paribas show losses between 1.0% and 1.4%. On the upside, automakers Peugeot and Renault are up 0.9% and 0.4%, respectively.
Germany's DAX is down 0.1%. Deutsche Telekom is down 3.2% after the company's T-Mobile unit ended merger talks with Sprint. Prosiebensat, Adidas, Deutsche Bank, and Continental show losses between 0.4% and 2.9%.
Spain's IBEX trades lower by 0.3%. BBVA, Santander, Bankinter, Bankia, Banco Sabadell, and Acciona sport losses between 0.3% and 1.0%.

08:25AM ET

[BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -1.90.

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

WTI crude futures are up 0.7% at $56.01/bbl this morning, marking the first time they've crossed the $56.00 threshold since July 2015. The commodity has been bullish ever since hitting a one-month low on August 30--adding nearly 22.0% since that date--amid signs of tightening market conditions and hope that the OPEC/non-OPEC supply cut agreement will be extended beyond the current end date of March 2018.

On a related note, Saudi Crown Prince Mohammed bin Salman ordered the imprisoning of 11 princes, four ministers, and dozens of ex-ministers over the weekend in an attempt to stamp out corruption and consolidate power. Saudi Arabia is the world's largest oil exporter.

08:01AM ET

[BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -0.10.

The U.S. equity market ended last week on a positive note as all three major indices settled Friday's session at fresh record highs. However, futures are little changed this morning, despite the devastating news of a mass shooting at a church in Sutherland Springs, Texas that claimed the lives of 26 people on Sunday. The S&P 500 futures are trading three points, or 0.1%, below fair value.

Earnings season continues this week, but the number of notable names on the docket has started to dwindle. Priceline (PCLN 1895.00, +0.51) will deliver its quarterly report following today's closing bell, while 21st Century Fox (FOXA 24.97, 0.00), Walt Disney (DIS 99.00, +0.36), and NVIDIA (NVDA 206.70, -1.99) will all report later in the week.

U.S. Treasuries are trading mostly higher this morning, with longer-dated issues showing relative strength. The yield on the benchmark 10-yr Treasury note is down one basis point at 2.33%, which marks a two-week low. Meanwhile, the 2-yr yield is flat at 1.61%.

Elsewhere, WTI crude futures are up 0.7% at $56.00 per barrel, hovering at their best level since July 2015. The commodity benefited on Friday from the weekly Baker Hughes rig count, which showed that the total number of active rigs in the U.S. decreased by 11 last week to 898.

Investors will not receive any economic data today.

In U.S. corporate news:

Qualcomm (QCOM 63.90, +2.09): +3.4% after Broadcom (AVGO 272.60, -1.03) proposed to acquire the company for $70 per share in cash/stock.
Sprint (S 5.88, -0.79): -11.8% after announcing that merger talks with T-Mobile US (TMUS 59.04, +0.13) have ended.
NVIDIA (NVDA 206.70, -1.99): -1.0% after the Wall Street Journal reported that Advanced Micro (AMD 11.67, +0.55) and Intel (INTC 46.55, +0.21) are partnering for PC chips.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mostly higher note. Japan's Nikkei unch, Hong Kong's Hang Seng unch, China's Shanghai Composite +0.5%, India's Sensex +0.1%.
In economic data:
Australia's MI Inflation Gauge +0.3% month-over-month (last 0.3%) and ANZ Job Advertisements +1.4% month-over-month (last -0.7%)
New Zealand's Inflation Expectations +2.0% quarter-over-quarter (last 2.1%) and ANZ Commodity Price Index -0.3% month-over-month (last 0.8%)
In news:
The attention was on the Middle East, where Saudi Crown Prince Mohammed bin Salman ordered the imprisoning of 11 princes, four ministers, and dozens of ex-ministers. Senior Prince Mansour bin Muqrin and seven other officials were killed in a helicopter crash near Saudi Arabia's border with Yemen. In addition, Saudi Arabia announced that a missile fired from Yemen on Saturday could constitute an act of war by Iran. Saudi Arabia views Yemen's Houthi rebels as Iranian proxies.
U.S. President Donald Trump met with Japan's Prime Minister Shinzo Abe today, noting that he expects Japan to buy "massive amounts of military equipment" from the United States.

Major European indices trade in the red with Spain's IBEX (-0.4%) trailing its peers. UK's FTSE unch, France's CAC -0.2%, Germany's DAX -0.2%.
In economic data:
Eurozone September PPI +0.6% month-over-month (expected 0.4%; last 0.3%); +2.9% year-over-year (consensus 2.8%; last 2.5%). November Sentix Investor Confidence 34.0 (expected 30.8; last 29.7) and October Services PMI 55.0 (expected 54.9; last 54.9)
Germany's October Services PMI 54.7 (expected 55.2; last 55.2) and September Factory Orders +1.0% (expected -1.5%; last 4.1%)
France's October Services PMI 57.3 (expected 57.4; last 57.4)
Italy's October Services PMI 52.1 (expected 53.0; last 53.2)
Spain's October Services PMI 54.6 (expected 55.5; last 56.7)
Swiss October CPI +0.1% month-over-month (expected 0.2%; last 0.2%); +0.7% year-over-year (consensus 0.8%; last 0.7%)
In news:
Catalonia's former leader Carles Puigdemont was briefly detained in Brussels, but he is currently out on bail. Mr. Puigdemont is required to remain in Brussels until his extradition, which is expected in two weeks.
Reports out of Italy indicate President Sergio Mattarella may dissolve Parliament before the end of the year in preparation for elections in March.

05:54AM ET

[BRIEFING.COM] S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -5.90.
05:54AM ET

[BRIEFING.COM] Nikkei...22548...+9.20...+0.00%

Hang Seng...28597...-6.80...0.00%

05:54AM ET

[BRIEFING.COM] FTSE...7548.18...-12.20...-0.20%

DAX

...13445.51...-33.40...-0.30%

04:30PM ET

[BRIEFING.COM] Wall Street ended a busy week on a positive note as stocks climbed to new record highs on Friday. The tech-heavy Nasdaq Composite (+0.7%) led the rally following another upbeat earnings report from Apple (AAPL 172.50, +4.39), while the S&P 500 Index (+0.3%) and the Dow Jones Industrial Average (+0.1%) finished with modest gains. All three major indices closed at new all-time highs.

For the week, the Nasdaq, the S&P 500, and the Dow finished with gains of 0.9%, 0.3%, and 0.5%, respectively.

Apple set the stage for Friday's performance on Thursday evening, which is when it released its fiscal fourth quarter results. The tech giant climbed 2.6% after beating both earnings and revenue estimates, in addition to reaffirming its guidance for the fiscal first quarter, which will feature the mass production of its flagship product--iPhone X. Apple finished the week at a new record high, extending its 2017 gain to 48.9% and its market cap to $891 billion.

Elsewhere in the tech space, Qualcomm (QCOM 61.81, +6.97) surged 12.7% following reports that rival Broadcom (AVGO 273.63, +14.13) is considering a deal to acquire the chipmaker. Bloomberg reported that Broadcom's bid, which could come as early as this weekend, would be in the neighborhood of $70 per share and would include both cash and stock.

Underpinned by the aforementioned names, the S&P 500's technology sector settled at the top of the day's leaderboard with a gain of 0.9%. The health care group (+0.8%) also comfortably beat the broader market, with Aetna (AET 176.99, +4.67) adding 2.7% on reports that CVS Health (CVS 69.25, -0.13) is seeking to merge with the managed health care company.

On the downside, the S&P 500's financial sector (-0.4%) struggled throughout the session, keeping the broader market's gain in check due to its large size--the group comprises around 14.5% of the broader market. Within the group, insurance giant AIG (AIG 62.00, -2.98) dropped 4.6% after missing third quarter earnings estimates due to hurricane-related claims.

Investors received the Employment Situation Report for October on Friday morning, but the release came and went without much impact on the financial markets. In short, the report stayed true to the 'Goldilocks' narrative of being neither too hot nor too cold--showing economic growth without signals of increased inflation.

U.S. Treasuries traded flat throughout much of the session, but ended the day with modest gains. The yield on the benchmark 10-yr Treasury note slipped one basis point to 2.34%. The 2-yr yield also dropped one basis point, settling at 1.61%. Meanwhile, the U.S. Dollar Index climbed 0.2% to 94.84.

Also of note, WTI crude futures quietly climbed 2.1% to $55.66/bbl, settling at their best level since July 2015. The commodity benefited from the weekly Baker Hughes rig count, which showed that the total number of active rigs in the U.S. decreased by 11 last week to 898.

Reviewing Friday's economic data, which included the Employment Situation Report for October, the October ISM Services Index, the September Trade Balance, and September Factory Orders:

October nonfarm payrolls increased by 261,000, while the Briefing.com consensus expected an increase of 300,000. Nonfarm private payrolls rose by 252,000, while the Briefing.com consensus expected an increase of 307,000. The unemployment rate fell to 4.1% from 4.2% (Briefing.com consensus 4.3%). Average hourly earnings were flat (Briefing.com consensus +0.1%). The average workweek was reported at 34.4 (Briefing.com consensus 34.4).
By and large, it is the type of report that the stock market should appreciate because it holds true to that Goldilocks theme of being neither too hot nor too cold. It was just right to ensure that the Fed will stick to its own theme of raising interest rates gradually--which is the key take away from the report.
The ISM Services Index for October rose to 60.1 from an unrevised reading of 59.8 in September. The Briefing.com consensus expected a reading of 58.5.
October is the 94th consecutive month of growth for the non-manufacturing sector. According to the ISM, the October reading corresponds to a 4.3% increase in real GDP on an annualized basis.
The September trade balance showed a deficit of $43.5 billion, which is in line with the Briefing.com consensus. The previous month's deficit was revised to $42.8 billion from $42.4 billion.
Notwithstanding the slight widening in the trade deficit in September, net exports should still remain a positive contributor to Q3 GDP growth with the second estimate as the third quarter average for the real trade deficit is still 0.5% less than the second quarter average.
The Factory Orders Report for September showed an increase of 1.4% while the Briefing.com consensus expected a rise of 1.2%. The August reading was left at +1.2%.
The key takeaway from the report is that it will be additive to Q3 GDP expectations given the upward revision from the advanced durable goods orders report for shipments of nondefense capital goods orders excluding aircraft.

Nasdaq Composite +25.7% YTD
Dow Jones Industrial Average +19.1% YTD
S&P 500 +15.6% YTD
Russell 2000 +10.2% YTD

Week In Review: Bulls Hurdle a Heap of Headlines

The equity market moved higher once again this week, with all three major indices settling at fresh record highs. The tech-heavy Nasdaq led the charge, adding 0.9%, while the Dow and the S&P 500 climbed 0.5% and 0.3%, respectively. Small caps underperformed, sending the Russell 2000 lower by 0.9%.

Some of the week's most notable headlines came out of the nation's capital, including details on the House's tax reform bill, which were released on Thursday. Highlights of the bill include an immediate--and permanent--reduction in the corporate tax rate from 35.0% to 20.0%, a repeal of state and local tax deductions--with the exception of a $10,000 limit for property taxes, a limit for mortgage interest deductions on new home loans of less than $500,000 (adjusted from $1,000,000), and no major changes to 401(k) tax laws.

Stocks initially sold off in reaction to the bill, but quickly bounced back.

Elsewhere in Washington, President Trump nominated Fed Governor Jerome Powell for the position of Fed Chair, and the Federal Open Market Committee unanimously voted to leave the fed funds target range at 1.00%-1.25%, as expected. The U.S. central bank reiterated its belief that the economy will continue to expand at a moderate pace and said nothing to alter the market's expectation for a rate hike in December; the CME FedWatch Tool places the chances of a December rate hike at 100.0%, up slightly from 99.9% last week.

The Employment Situation Report for October crossed the wires on Friday, showing below-consensus nonfarm payrolls (+261,000 actual vs +300,000 Briefing.com consensus), nonfarm private payrolls (+252,000 actual vs +307,000 Briefing.com consensus), and average hourly earnings (0.0% actual vs +0.1% Briefing.com consensus). Still, the market took the report in stride as it confirmed that the labor market is still strong, but that strength hasn't resulted in a pick up in wages--and thereby inflation.

As for earnings, several tech heavyweights reported their quarterly results this week, including Apple (AAPL) and Facebook (FB). The two companies finished the week higher, adding 5.8% and 0.6%, respectively, after both beat earnings and revenue estimates. The S&P 500's technology sector (+1.8%) finished at the top of the week's sector standings.

The energy sector (+1.7%) also outperformed, moving in tandem with the price of crude oil, which jumped 3.3% to $55.66/bbl--marking its highest close since July 2015.

On the downside, the consumer discretionary, health care, industrials, and materials sectors struggled, losing between 0.5% and 0.8%. Within the industrial group, transports showed particular weakness, sending the Dow Jones Transportation Average lower by 1.8%. The telecom services group (-2.6%) finished at the very bottom of the leaderboard once again, extending its 2017 loss to 17.4%.

Dow: +22.93… | Nasdaq: +49.49… | S&P: +7.99…

NASDAQ Adv/Dec 1325/1370. …NYSE Adv/Dec 1402/1496.

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

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

Image Review of TheStrategyLab @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167

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

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