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 Post subject: November 22nd Wednesday Trade Results - Profits $825.00
PostPosted: Thu Nov 23, 2017 11:47 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)
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 @ $825.00 dollars or +16.50 points, Light Crude Oil CL ($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 @ $825.00 dollars

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 & Price Action Observations is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=173&t=2700

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.

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

The Market at 04:15PM ET
Dow: -64.65… | Nasdaq: +4.88… | S&P: -1.95…
NASDAQ Vol: 1.58 bln… Adv: 1571… Dec: 1198…
NYSE Vol: 669 mln… Adv: 1665… Dec: 1252…

Moving the Market

Quiet session expected ahead of Thanksgiving Holiday: stock market will be closed on Thursday; Friday session to end at 13:00 ET

Energy sector benefiting from rising oil prices

Relative strength in Apple and Amazon.com

Sector Watch
Strong: Energy, Telecom Services
Weak: Technology, Real Estate, Financials

04:15PM ET

[BRIEFING.COM] The trading day is done, and for many participants, it was over before it began. The low trading volume said as much, as did the small changes in the major indices which held to tight trading ranges throughout the session.

Price returns ranged from down 0.3% for the Dow Jones Industrial Average to up 0.1% for the Nasdaq Composite, which established another record high.

The lack of concerted movement was not surprising considering the large gains registered on Tuesday left many participants convinced that the turkey-day work was done and that the time had arrived to settle in for the Thanksgiving holiday. Markets will be closed on Thursday and the stock and bond markets will have early closes at 1:00 p.m. ET and 2:00 p.m. ET, respectively, on Friday.

While there wasn't much movement today at the index level, there were some notable moves in individual stocks. Standouts in that regard include the likes of Deere & Co. (DE 145.33, +6.10, +4.4%), Hewlett-Packard Enterprise (HPE 13.10, -1.02, -7.2%), GameStop (GME 17.38, +0.65, +3.9%), and Guess? (GES 15.62, -2.33, -13.0%), all of which reported earnings results after yesterday's close.

Separately, there was notable strength in shares of Apple (AAPL 174.96, +1.82, +1.1%) and Amazon.com (AMZN 1156.16, +16.67, +1.5%), both of which are expected to be big beneficiaries of the holiday selling season, which will ramp up excitedly on Thursday. In the same vein, a number of retail issues exhibited relative strength in front of Black Friday.

From a sector standpoint, the telecommunications sector (+1.7%) had the best showing as industry leaders Verizon (VZ 47.12, +0.94, +2.0%) and AT&T (T 34.86, +0.53, +1.5%) were pushed higher on speculation the FCC may soon roll back net neutrality rules.

The energy sector (+0.4%) was next in line, getting a boost from rising oil prices ($57.98, +$1.15, +2.0%), which benefited from a weaker dollar, reports of a drawdown in oil inventories, and some defensive posturing in front of the holiday that also showed up in the Treasury market. The yield on the 10-yr note slipped four basis points to 2.32%.

All other sector moves were limited to down 0.4% to up 0.1%.

For the most part, the major indices were non-responsive to news today, including the release of the FOMC Minutes for the October 31-November 1 meeting, which contained the admission that "several participants expressed concerns about a potential buildup of financial imbalances" given elevated asset valuations and low financial market volatility.

Some misgivings about the low inflation readings were also expressed in the minutes, but overall, there was no change in the market's perception that the Fed is inclined to raise the target range for the fed funds rate at its December meeting. That consideration was reflected in the fed funds futures market, which was unchanged from Tuesday in showing a 100% probability of a rate hike at the December meeting.

There was a good bit of economic data released today, although none of it stirred any concern -- or conviction -- mong today's participants.

The Durable Goods Orders report for October revealed a 1.2% decrease in orders (Briefing.com consensus +0.4%) that was led by a 4.3% drop in new orders for transportation equipment. Excluding transportation, orders were up 0.4% (Briefing.com consensus +0.5%) on the heels of an upwardly revised 1.1% increase (from +0.7%) for September.
The key takeaway from the report is that business spending decelerated in October, yet there is little reason at this juncture to think that deceleration is more than some normal slowing following some nice-sized gains in previous months.
Initial claims for the week ending November 18 decreased by 13,000 to 239,000, as expected, leaving claims in the sweet spot they have been for some time. Continuing claims for the week ending November 11 increased by 36,000 to 1.904 million.
The key takeaway from the report is that it covers the period in which the household survey for the November employment report was conducted, so it should feed economists' expectations for another solid month of nonfarm payroll gains.
The University of Michigan's Consumer Sentiment Index for November was revised to 98.5 (Briefing.com consensus 97.9) from the preliminary reading of 97.8. The upward revision was a byproduct of an upward adjustment in the reading for the expectations index. The final reading for October was 100.7, which was a decade peak, so consumer sentiment remains at lofty levels.
The key takeaway from the report is that consumers are feeling more confident in their expectations for income, employment, and inflation, which could bode well for future spending activity.

Happy Thanksgiving!

Nasdaq Composite +27.6% YTD
Dow Jones Industrial Average +19.1% YTD
S&P 500 +16.0% YTD
S&P Mid Cap 400 +11.9%
Russell 2000 +11.9% YTD

Dow: -64.65… | Nasdaq: +4.88… | S&P: -1.95…

NASDAQ Adv/Dec 1571/1198. …NYSE Adv/Dec 1665/1252.

03:35PM ET

[BRIEFING.COM] Commodities end the day higher :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 1.22% at 86.47
Dollar index is currently down 0.69% at 93.3
Dec WTI Crude is up 2.02% on the day.
Baker Hughes total U.S. rig count increased by 8 to 923 following last week's increase of 8
EIA inventory data showed a draw of 1.9 mln barrels
Futures settle $1.15 higher to $57.98/barrel.
In other energy:
EIA Natural gas inventory showed a draw of 46 bcf vs a draw of 18 bcf in the prior week
Dec Natural Gas settled down $0.05 at $2.97/MMBtu
On the metals:
Dec Gold gained $10.3 to settle at $1292/oz, while Dec silver gained $0.16 to $17.12/oz
Dec Copper gained $0.01 to $3.14/lb
Finally, agriculture:
Dec Corn settled unchanged at $3.45/bu.
Dec soy settled flat at $9.97/bu.
Dec wheat settled flat at $4.41/bu.

Dow: -52… | Nasdaq: +5.35… | S&P: -0.42…

NASDAQ Adv/Dec 1592/1211. …NYSE Adv/Dec 1722/1182.

03:00PM ET

[BRIEFING.COM] The Nasdaq Composite has perked up a bit and is near its best levels of the day, bolstered by strength in Apple (AAPL 174.64, +1.50, +0.9%), Amazon.com (AMZN 1159.52, +20.03, +1.8%) and pockets of strength in the healthcare/biotech space.

Cerner (CERN 69.93, +3.25, +4.9%) has been an outperformer today on the back of reports that Amazon's cloud unit might soon announce a partnership with Cerner. Other outperformers have included the likes of Henry Schein (HSIC 69.91, +1.94, +2.9%), AmerisourceBergen (ABC 81.75, +2.29, +2.9%), and Illumina (ILMN 214.94, +2.89, +1.4%) to name a few.

Elsewhere, there are pockets of strength in the retail sector ahead of Black Friday.

Leading standouts in the retail space include names like Bed Bath & Beyond (BBBY 21.05, +0.78, +3.9%), Mattel (MAT 18.91, +0.38, +2.0%), Ulta Beauty (ULTA 213.81, +3.85, +1.8%), Macy's (M 20.79, +0.37, +1.8%), and Kohl's (KSS 44.78, +0.58, +1.3%).

Dow: -56.03… | Nasdaq: +9.99… | S&P: -0.72…

NASDAQ Adv/Dec 1683/1127. …NYSE Adv/Dec 1689/1185.

02:30PM ET

[BRIEFING.COM] The stock market got little out of the FOMC Minutes and gave little back. That's owed in part to a recognition that there weren't many surprises in the minutes relative to what market participants assumed the Fed had been thinking and discussing.

For what it's worth, the minutes did note that "...several participants expressed concerns about a potential buildup of financial imbalances" given elevated asset valuations and low financial market volatility, versus "a couple of participants" expressing such concerns at the September FOMC meeting.

Still, the major indices have held to tight trading ranges and their mixed disposition.

Generally speaking, there is a bit of some defensive posturing today in front of the holiday that is reflected in rising oil and gold prices, rising Treasury prices, and a lack of real strength in the stock market.

Dow: -61.20… | Nasdaq: +6.39… | S&P: -1.23…

NASDAQ Adv/Dec 1629/1161. …NYSE Adv/Dec 1671/1210.

02:05PM ET

[BRIEFING.COM] The stock market continues to trade in a mixed manner in tight trading ranges, which is to say it is easy to tune out from today. Many participants have, which helps explain why the market has been trading in today's languid state.

Moments ago, the minutes from the October 31-November FOMC meeting were released. A key excerpt from the minutes is the following:

"Consistent with their expectation that a gradual removal of monetary policy accommodation would be appropriate, many participants thought that another increase in the target range for the federal funds rate was likely to be warranted in the near term if incoming information left the medium-term outlook broadly unchanged. Several participants indicated that their decision about whether to increase the target range in the near term would depend importantly on whether the upcoming economic data boosted their confidence that inflation was headed toward the Committee's objective. A few other participants thought that additional policy firming should be deferred until incoming information confirmed that inflation was clearly on a path toward the Committee's symmetric 2 percent objective."

Thus far, there has been limited response in the stock market. The same can be said for the Treasury market, although the difference between the two is that there has been broad-based strength in the Treasury market throughout the day.

Dow: -56.90… | Nasdaq: +3.68… | S&P: -1.44…

NASDAQ Adv/Dec 1635/1153. …NYSE Adv/Dec 1648/1217.

01:30PM ET

[BRIEFING.COM] The major U.S. indices are currently near their lows of the session as stocks have continued to drift lower since the opening bell.

A look inside the Dow Jones Industrial Average shows that Johnson & Johnson (JNJ 136.89, -1.45), American Express (AXP 93.54, -0.87), & UnitedHealth Group (UNH 210.89, -1.71) are underperforming.

Conversely, Verizon (VZ 47.06, +0.88) is the best-performing Dow component as the company is seen as a beneficiary of a potential FCC rollback of Net Neutrality regulations.

Ahead of the Thanksgiving holiday and half-trading day on Friday, the DJIA is up 0.71% week-to-date.

Heading into the top of the hour, investors will eye the release of minutes from the FOMC's October 31-November 1 meeting, expected out at 2 PM ET.

Dow: -77.73… | Nasdaq: +0.61… | S&P: -3.08…

NASDAQ Adv/Dec 1590/1196. …NYSE Adv/Dec 1621/1242.

01:00PM ET

[BRIEFING.COM] Today's trading session has proceeded at a somewhat lethargic pace, which is not altogether surprising following yesterday's big move and the awareness that the market will be closed tomorrow in observance of Thanksgiving.

The major indices have been mixed since the start of trading with the Nasdaq managing to keep its nose above the unchanged mark (bur barely so) for most of the day. That relative strength has been helped along by Apple (AAPL 174.29, +1.15, +0.7%) and a handful of other stocks, but overall, there just hasn't been much trading conviction.

The Dow Jones Industrial Average and S&P 500 have sported modest losses for most of the day, held back by some light profit-taking interest.

Today's best-performing area has been the telecommunications sector (+1.5%), which is riding the rails of a possible repeal of net neutrality rules. The energy sector (+0.5%) has also shown an upward bias, aided by an increase in oil prices ($57.75, +$0.92, +1.6%) that has been aided by a weakening dollar and reports of crude oil inventory drawdowns.

Verizon (VZ 46.95, +0.77, +1.7%) is among the few winning standouts in the Dow, but it is General Electric (GE 18.20, +0.37, +2.1%) that is the best-performing component in percentage terms.

By and large, most of today's trading "action" has been limited to individual stocks like Hewlett-Packard Enterprise (HPE 13.02, -1.10, -7.8%), Guess? (GES 15.65, -2.30, -12.8%), GameStop (GME 17.89, +1.16, +6.9%), and Deere & Co. (DE 144.94, +5.71, +4.1%), all of which have shared earnings results since yesterday's close.

There was a spate of economic data released this morning, yet none of it had any concerted market-moving pull. Perhaps the minutes from the October 31-November 1 FOMC meeting will when they are released at 2:00 p.m. ET.

Market participants will be particularly interested to hear what conversation was had with respect to inflation dynamics, particularly since the back end of the yield curve has not exhibited any fear of a big pickup in inflation. On a related note, Fed Chair Yellen said on a panel last night that she still thinks inflation will pick up but that she is very uncertain about that prognostication.

Today's data included the following releases:

The Durable Goods Orders report for October revealed a 1.2% decrease in orders (Briefing.com consensus +0.4%) that was led by a 4.3% drop in new orders for transportation equipment. Excluding transportation, orders were up 0.4% (Briefing.com consensus +0.5%) on the heels of an upwardly revised 1.1% increase (from +0.7%) for September.
The key takeaway from the report is that business spending decelerated in October, yet there is little reason at this juncture to think that deceleration is more than some normal slowing following some nice-sized gains in previous months.
Initial claims for the week ending November 18 decreased by 13,000 to 239,000, as expected, leaving claims in the sweet spot they have been for some time. Continuing claims for the week ending November 11 increased by 36,000 to 1.904 million.
The key takeaway from the report is that it covers the period in which the household survey for the November employment report was conducted, so it should feed economists' expectations for another solid month of nonfarm payroll gains.
The University of Michigan's Consumer Sentiment Index for November was revised to 98.5 (Briefing.com consensus 97.9) from the preliminary reading of 97.8. The upward revision was a byproduct of an upward adjustment in the reading for the expectations index. The final reading for October was 100.7, which was a decade peak, so consumer sentiment remains at lofty levels.
The key takeaway from the report is that consumers are feeling more confident in their expectations for income, employment, and inflation, which could bode well for future spending activity.

Dow: -63.48… | Nasdaq: +3.72… | S&P: -1.83…

NASDAQ Adv/Dec 1604/1189. …NYSE Adv/Dec 1600/1221.

12:30PM ET

[BRIEFING.COM] More of the same for the stock market, which remains mixed. The range, though, is tight, with a 0.1% increase for the Russell 2000 qualifying as the best showing and a 0.3% decline for the Dow qualifying as the worst showing.

A continuation of this mixed trading action shouldn't be a surprise if it persists for the remainder of the session, as market participants are probably finding better things to do directly in front of the Thanksgiving holiday.

Dow: -78.72… | Nasdaq: +1.44… | S&P: -2.90…

NASDAQ Adv/Dec 1550/1217. …NYSE Adv/Dec 1552/1278.

12:00PM ET

[BRIEFING.COM] Buyers exhibited their share of conviction yesterday, yet they haven't been a big part of today's trading equation to this point. The major indices have seen some leakage since the opening bell, but it's fair to say that there certainly hasn't been a flood of selling interest.

Strikingly, the Treasury market continues to find buying interest, although the trade of note in that market continues to be a curve-flattening trade.

The 2-10 spread has widened one basis point to 62 basis points today, yet that "widening" belies the fact that the 2-10 spread has narrowed considerably from 125 basis points at the start of the year despite the reflation optimism that has helped lift the major equity indices to record highs.

The ongoing flattening has halted the upward momentum of the S&P financial sector (-0.3%), which is down 1.5% over the last month.

Dow: -55.33… | Nasdaq: +1.55… | S&P: -2.00…

NASDAQ Adv/Dec 1588/1182. …NYSE Adv/Dec 1600/1217.

11:30AM ET

[BRIEFING.COM] The major indices remain mixed without a lot of fanfare seen at the index level. Any action of note is at the individual stock level.

To the latter point, names like Hewlett-Packard Enterprise (HPE 13.03, -1.09, -7.7%), Guess? (GES 15.62, -2.33, -13.0%), and GameStop (GME 18.08, +1.35, +8.1%) are standouts with their latest earnings reports serving as trading catalysts.

In the case of HPE, the stock is also getting hit on the news that CEO Meg Whitman announced her resignation, effective February 1, 2018.

Generally speaking, traders are playing things closer to the vest today, as participation is thinning out ahead of the Thanksgiving holiday on Thursday.

Dow: -50.40… | Nasdaq: -0.15… | S&P: -2.28…

NASDAQ Adv/Dec 1611/1153. …NYSE Adv/Dec 1582/1192.

11:00AM ET

[BRIEFING.COM] The stock market is cooling its jets after yesterday's spirited run that took the major indices to new record highs. There isn't a lot to be said for today's overall action as the major indices are mixed and little changed.

The Nasdaq Composite, up 0.1%, is the "big gainer" thanks in no small part to Apple (AAPL 174.46, +1.32, +0.8%), which is bucking a trend of sluggishness seen throughout the information technology sector -- a sector, by the way, that is up 38.2% year-to-date.

Elsewhere, the S&P 500 energy sector (+0.6%) has a leadership post today as it follows oil prices higher ($57.64, +$0.81, +1.4%).

The latter have been bolstered by a drop in crude inventories reported by both the American Petroleum Institute (-6.36 million barrels) and the Energy Information Administration (-1.9 million barrels), as well as some weakness in the dollar.

The U.S. Dollar Index is down 0.5% at 93.53, with the yen showing some strength as reports circulate suggesting the Bank of Japan may start to distance itself from its crisis-management monetary policy.

Dow: -18.65… | Nasdaq: +3.90… | S&P: -0.15…

NASDAQ Adv/Dec 1699/1064. …NYSE Adv/Dec 1627/1112.

10:30AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0.33% at 86.7881
Dollar index is currently down 0.47% at 93.51
Dec WTI crude is up 1.3% on the day.
Crude oil inventories had a draw of 1.9 mln barrels
Futures are $0.74 higher to $57.57/barrel.
In other energy:
EIA natural gas inventory data is due out at noon eastern
Dec natural gas is down $0.05 at $2.97/MMBtu
Metals:
Dec gold gained $7.70 and trades at $1289.4/oz, while Dec silver gained $0.15 to $17.11/oz
Dec copper gained 0.01 to $3.14/lb
Finally, agriculture:
Dec corn is unchanged at $3.45/bu.
Dec soy is up $0.08 at $9.9725/bu.
Dec wheat is down $0.01 at $4.4/bu.

Dow: 160.50… | Nasdaq: +3.45… | S&P: -0.86…

NASDAQ Adv/Dec 1580/1160. …NYSE Adv/Dec 1564/1158.

10:00AM ET

[BRIEFING.COM] The S&P 500 remains right on its flat line while other indices trade in similar fashion.

Just released, the final reading of the University of Michigan Consumer Sentiment Index for November increased to 98.5 (Briefing.com consensus 97.9) from 97.8 in the preliminary reading.

Dow: -16.77… | Nasdaq: +1.58… | S&P: +0.15…

NASDAQ Adv/Dec 1623/1062. …NYSE Adv/Dec 1694/965.

09:45AM ET

[BRIEFING.COM] As expected, the major averages began the trading day in the neighborhood of their respective flat lines. The benchmark S&P 500 will look to maintain its week-to-date gain of 0.8%.

Seven out of eleven sectors display early gains, but most groups trade within 0.2% of their flat lines while the energy sector (+0.5%) outperforms amid today's 1.7% gain in crude oil, which has climbed to $57.79/bbl. On the downside, the top-weighted technology sector is lower by 0.3%, trimming this week's gain to 1.2%.

Treasuries have inched up from their morning levels with the 10-yr yield now down one basis point at 2.35%.

The final reading of the Michigan Consumer Sentiment Index for November (Briefing.com consensus 97.9) will be reported at 10:00 ET.

Dow: -9.06… | Nasdaq: -2.69… | S&P: -0.17…

NASDAQ Adv/Dec 1545/1079. …NYSE Adv/Dec 1694/919.

09:16AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +5.60.

The stock market is on track for a flat start as futures on the S&P 500 trade within a point of fair value.

With the Thanksgiving Holiday coming up tomorrow and an abbreviated session scheduled for Friday, it would not be a big surprise if today's affair generated below-average volume. Market participants received a fair dose of quarterly reports between yesterday's closing bell and today's open, but the broader market has not shown much response. That said, it is worth noting that Deere (DE 145.18, +5.95) has climbed 4.3% in pre-market after beating earnings and revenue expectations and issuing above-consensus guidance for the fiscal year.

On the economic front, weekly initial claims matched the Briefing.com consensus estimate of 249K while October Durable Orders declined 1.2% (Briefing.com consensus 0.4%). Excluding transportation, durable orders increased 0.4% (Briefing.com consensus 0.5%).

The final reading of the University of Michigan Consumer Sentiment Index for November (Briefing.com consensus 97.9) will cross at 10:00 ET and November FOMC Minutes will be released at 14:00 ET.

U.S. Treasuries are little changed with the 10-yr yield hovering at 2.36%.

08:56AM ET

[BRIEFING.COM] S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: +2.60.

The S&P 500 futures trade within a point of fair value.

Equity indices in the Asia-Pacific region ended the midweek session on a higher note. Reports out of Japan indicate the Bank of Japan could reduce crisis mode stimulus by increasing its yield curve target. However, separate reports hinted at the government's plan to cut CPI and GDP estimates in the next mid-term report. People's Bank of China Governor Zhou Xiaochuan said that the central bank will reduce currency intervention to advance the internationalization of the yuan.

In economic data:
Australia's Q3 Construction Work Done +15.7% quarter-over-quarter (expected -2.3%; last 9.8%). MI Leading Index +0.1% month-over-month (last 0.1%)
New Zealand's October External Migration & Visitors +3.9% (last 3.1%)

---Equity Markets---

Japan's Nikkei gained 0.6%. TDK, Okuma, Japan Steel Works, Komatsu, Yokohama Rubber, Dainippon Screen Manufacturing, and Isuzu Motors posted gains between 2.0% and 5.9%.
Hong Kong's Hang Seng advanced 0.6% amid gains in most components. Kunlun Energy, CNOOC, China Shenhua Energy, and PetroChina rose between 1.7% and 2.3%. Financials like HSBC, ICBC, Bank of East Asia, and Bank of China gained between 1.0% and 1.8%.
China's Shanghai Composite ended higher by 0.6%. Hangzhou Silan Microelectronics, Wingtech Technology, China Aerospace Times Electronics, Harbin Air Conditioning, and Beijing Aerospace Changfeng gained between 5.4% and 6.1%.
India's Sensex added 0.3% amid gains in half of its components. Adani Ports, GAIL, SBI, Maruti Suzuki, Tata Motors, Mahindra&Mahindra, and Bajaj Auto posted gains between 0.5% and 3.3%.

Major European indices trade in mixed fashion with Spain's IBEX (+0.7%) showing relative strength. Germany's Social Democrats have once again rejected forming a grand coalition with Chancellor Angela Merkel's CDU/CSU despite growing pressure to accept an alliance. British Chancellor Philip Hammond delivered the Autumn Budget Speech today, noting that the deficit for fiscal year 2017/18 is expected at GBP49.90 billion. Brexit negotiators plan to have a divorce bill ready within three weeks. Germany's 30-yr bund reopening drew an average yield of 1.20% and a bid-cover ratio of 1.7x.

Investors did not receive any economic data of note.

---Equity Markets---

Germany's DAX is lower by 0.2%. Adidas trades down 1.3% while Infineon, SAP, Continental, Volkswagen, Allianz, Siemens, Bayer, and Merck show losses between 0.3% and 1.0%. Utilities RWE and E.On outperform with respective gains of 3.3% and 1.0%.
France's CAC has added 0.1%. Consumer names trade in mixed fashion with Carrefour and Danone both up near 1.0% while L'Oreal, Kering, and Louis Vuitton show losses between 0.2% and 1.1%. Financials are also mixed. BNP Paribas is higher by 0.9%, Societe Generale and Credit Agricole trade flat, while AXA is down 0.3%.
UK's FTSE trades up 0.5%. Standard Chartered has spiked 4.2% while consumer names like Kingfisher, ITV, Tesco, Dixons Carphone, Morrison Supermarkets, and Sainsbury hold gains between 1.1% and 3.7%.
Spain's IBEX has climbed 0.7%. BBVA, Santander, Iberdrola, Bankinter, Banco Sabadell, and Acciona are up between 0.6% and 1.5%.

08:34AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +5.60.

The S&P 500 futures trade within a point of fair value.

Just in, the latest weekly initial jobless claims count totaled 239,000, which is what the Briefing.com consensus expected. Today's tally was below the revised prior week count of 252,000 (from 249,000). As for continuing claims, they increased to 1.904 million from a revised count of 1.868 million (from 1.860 million).

October durable goods orders declined 1.2%, which is worse than the 0.4% increase expected by the Briefing.com consensus. The prior month's reading was revised to 2.2% from 2.0%. Excluding transportation, durable orders increased 0.4% (Briefing.com consensus +0.5%) to follow the prior month's revised uptick of 1.1% (from 0.7%).

08:00AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +10.90.

The stock market is on track for a flattish start with a slight upward bias as futures on the S&P 500 trade just two points above fair value.

The overnight session was fairly quiet, but pretty positive in general as markets across Asia posted gains while European indices also trade mostly higher, except for Germany's DAX.

U.S. Treasuries sport slim losses after yesterday's session saw continued flattening in the yield curve. The 2s10s spread has ticked up to 60 bps after compressing below that level yesterday.

Meanwhile, the U.S. Dollar Index is lower by 0.1% at 93.84 and WTI crude futures are up 1.7% at $57.81/bbl.

Investors will receive a bundle of economic data ahead of tomorrow's market closure in observance of Thanksgiving. The Weekly MBA Mortgage Index ticked up 0.1% to follow last week's 3.1% increase. Weekly Initial Claims (Briefing.com consensus 239K) and October Durable Goods Orders (Briefing.com consensus +0.4%) will be reported at 8:30 ET while the final reading of the University of Michigan Consumer Sentiment Index for November (Briefing.com consensus 97.9) will cross at 10:00 ET. November FOMC Minutes will be released at 14:00 ET.

In U.S. corporate news:

Deere (DE 144.09, +4.86): +3.5% after the company beat earnings and revenue expectations and issued above-consensus guidance for the fiscal year.
HP (HPQ 21.25, -1.21): -5.4% after reporting in-line results on above-consensus revenue.
Hewlett Packard Enterprise (HPE 13.45, -0.67): -4.7% after reporting mixed results and issuing below-consensus guidance for the first quarter.
GameStop (GME 17.67, +0.94): +5.6% after beating earnings expectations and reaffirming guidance for the fiscal year.
Guess? (GES 16.16, -1.79): -10.0% in response to in-line results and guidance.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended on a higher note. Japan's Nikkei +0.6%, Hong Kong's Hang Seng +0.6%, and China's Shanghai Composite +0.6%.
In economic data:
Australia's Q3 Construction Work Done +15.7% quarter-over-quarter (expected -2.3%; last 9.8%). MI Leading Index +0.1% month-over-month (last 0.1%)
New Zealand's October External Migration & Visitors +3.9% (last 3.1%)
In news:
Reports out of Japan indicate the Bank of Japan could reduce crisis mode stimulus by increasing its yield curve target
People's Bank of China Governor Zhou Xiaochuan said that the central bank will reduce currency intervention to advance the internationalization of the yuan

Major European indices trade mostly higher. UK's FTSE +0.5%, France's CAC +0.3%, Germany's DAX -0.1%.
Investors did not receive any noteworthy economic data
In news:
Germany's Social Democrats have once again rejected forming a grand coalition with Chancellor Angela Merkel's CDU/CSU despite growing pressure to accept an alliance

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -4.70.
05:51AM ET

[BRIEFING.COM] Nikkei...22523...+106.70...+0.50%

Hang Seng...30003.5...+185.40...+0.60%

05:51AM ET

[BRIEFING.COM] FTSE...7431.76...+20.40...+0.30%

DAX...13130.89...-36.70...-0.30%

04:30PM ET

[BRIEFING.COM] Equities sprung to new record highs on Tuesday, with technology shares leading the charge.

The tech-heavy Nasdaq (+1.1%) outpaced the S&P 500 (+0.7%) and the Dow (+0.7%), but all three major stock indices finished at fresh record highs. The small-cap Russell 2000 (+1.0%) also posted a new all-time high, marking its first record close since October 5.

Trading volume was light once again on Tuesday and will likely remain that way throughout the abbreviated holiday week, creating the potential for outsized moves in either direction.

While there wasn't a particular catalyst to credit for the unexpected wave of buying, a positive performance from equity markets overseas certainly contributed to Wall Street's bullish bias. Indices in the Asia-Pacific region finished Tuesday broadly higher, with Hong Kong's Hang Seng (+1.9%) pacing the advance.

Stocks were strong in Europe as well, sending the Euro Stoxx 50 higher by 0.5%, despite continued uncertainty stemming from the collapse of coalition talks in Germany. On a related note, German Chancellor Angela Merkel said that she would prefer new elections rather than trying to form a minority government.

With the positive tone having already been set in both Europe and Asia, U.S. equities followed suit, opening Tuesday's session in the green. The major U.S. averages extended their opening gains for the first hour of trading, but then began a sideways trend that carried them to the closing bell.

The S&P 500's technology sector (+1.2%) was strong from the jump, helped by upbeat performances from mega-cap names like Apple (AAPL 173.14, +3.16), Microsoft (MSFT 83.72, +1.19), Facebook (FB 181.86, +3.12), and Alphabet (GOOG 1034.49, +16.11)--all of which added at least 1.4%.

Following Tuesday's rally, the technology sector has added 38.6% year to date, more than double the S&P 500's advance of 16.1%.

The health care sector (+0.9%) also outperformed on Tuesday, led by medical device company Medtronic (MDT 82.66, +3.76), which jumped 4.8%. MDT shares advanced after the company reported better-than-expected profits for its fiscal second quarter and reaffirmed its guidance for the fiscal year.

On the downside, AT&T (T 34.33, -0.31) struggled, losing 0.9%, after the U.S. Department of Justice announced its decision to file a lawsuit against the company's acquisition of Time Warner (TWX 89.56, +1.85). Conversely, TWX shares added 2.1%. The DOJ's decision was announced on Monday afternoon.

The telecom services group (-0.5%) was the only sector to finish in the red, but the heavily-weighted financial space (+0.3%) underperformed as the yield curve continued to flatten--which doesn't bode well for the earnings prospects of lenders.

U.S. Treasuries ended Tuesday on a mixed note, cutting the 2yr-10-yr spread to 59 basis points. The yield on the benchmark 10-yr Treasury note slipped one basis point to 2.36%, while the 2-yr yield climbed two basis points to 1.77%.

Reviewing Tuesday's economic data, which was limited to Existing Home Sales for October:

Existing home sales increased 2.0% in October to an annualized rate of 5.48 million units (Briefing.com consensus 5.42 million). The September reading was revised to 5.37 million from 5.39 million.
The key takeaway from the report is that notable supply constraints remain, which will continue to act as a drag on overall sales due to the limited inventory and the high prices on available inventory that is crimping affordability.

On Wednesday, investors will receive a number of economic reports, including the weekly MBA Mortgage Applications Index at 7:00 ET, weekly Initial Claims (Briefing.com consensus 239K) at 8:30 ET, October Durable Goods Orders (Briefing.com consensus +0.4%) also at 8:30 ET, and the final reading of the University of Michigan Consumer Sentiment Index for November (Briefing.com consensus 97.9) at 10:00 ET.

Also of note, the minutes from the latest FOMC meeting will be released on Wednesday at 14:00 ET.

Nasdaq Composite +27.5% YTD
Dow Jones Industrial Average +19.4% YTD
S&P 500 +16.1% YTD
Russell 2000 +11.9% YTD

Dow: +160.50… | Nasdaq: +71.76… | S&P: +16.89…

NASDAQ Adv/Dec 1398/1015. …NYSE Adv/Dec 2013/938.

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 and data will be useful for you. gm

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

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Image TheStrategyLab Review @ http://www.thestrategylab.com/thestrategylab-reviews.htm

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. Also, you can read our full disclaimer statement @ http://www.thestrategylab.com/Disclaimer.htm


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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