TheStrategyLab.com Price Action Trading Support Forum

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
It is currently Thu Mar 28, 2024 2:53 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: November 28th Tuesday Trade Results - Profits $1375.00
PostPosted: Wed Nov 29, 2017 9:38 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
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)
Telephone: +1 708 572-4885
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)

Attachment:
112817-wrbtrader-Price-Action-Trading-Broker-PnL-Statement-Profit+1375.00.png
112817-wrbtrader-Price-Action-Trading-Broker-PnL-Statement-Profit+1375.00.png [ 96.66 KiB | Viewed 248 times ]

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 @ $1375.00 dollars or +27.50 points, Light Crude Oil CL ($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 @ $1375.00 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 is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=173&t=2704

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 and price action analysis 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:
112817-Key-Price-Action-Markets.png
112817-Key-Price-Action-Markets.png [ 1.15 MiB | Viewed 228 times ]

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

The Market at 04:25PM ET
Dow: +255.93… | Nasdaq: +33.84… | S&P: +25.62…
NASDAQ Vol: 1.96 bln… Adv: 1455… Dec: 981…
NYSE Vol: 833.6 mln… Adv: 2027… Dec: 920…

Moving the Market

Financials rally following Fed Chair nominee Jerome Powell's confirmation hearing

Senate Budget Committee approves GOP's tax reform bill

Modest selling in reaction to a ballistic missile launch from North Korea

Retailers upbeat following reports of a good start to the holiday shopping season

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

04:25PM ET

[BRIEFING.COM] Equities ran to new record highs on Tuesday, with the S&P 500's financial sector (+2.6%) leading the advance.

The Dow Jones Industrial Average and the S&P 500 Index climbed 1.1% and 1.0%, respectively, while the tech-heavy Nasdaq Composite advanced a relatively modest 0.5%. All three major U.S. stock indices closed at new all-time highs, as did the small-cap Russell 2000, which jumped 1.5%.

Tuesday's rally was fueled by developments in Washington, including the Senate Budget Committee's approval of the GOP's tax reform bill--which effectively sends the bill to the full upper chamber for a vote. There were concerns that the bill wouldn't make it to the Senate floor due to Republicans' slim one-vote majority in the Budget Committee.

In addition, Jerome Powell's Fed Chair confirmation hearing provided support to the broader market--and to financials in particular.

Mr. Powell's comments were largely in line with the Fed's current policy rhetoric, although he did sound a little more lax than current Fed Chair Janet Yellen in the area of regulation. Specifically, Mr. Powell said rules implemented since the financial crisis are 'tough enough' and emphasized a desire to reduce regulatory constraints on smaller banks.

Financial heavyweights like JPMorgan Chase (JPM 101.36, +3.43), Bank of America (BAC 27.64, +1.05), Wells Fargo (WFC 55.57, +1.62), and Citigroup (C 73.70, +2.31) finished with gains between 3.0% and 4.0%.

On a related note, the yield curve steepened slightly as U.S. Treasuries sold off, pushing the 2yr-10yr spread to 59 basis points. The yield on the benchmark 10-yr Treasury note climbed two basis points to 2.34%, while the 2-yr yield jumped one basis point to 1.75%. A steeper yield curve bodes well for lenders' earnings prospects.

The industrial sector also finished ahead of the broader market, adding 1.5%, as did the lightly-weighted telecom services group, which jumped 2.2%.

However, the top-weighted technology sector struggled throughout the session, ending with a gain of just 0.2%. Mega caps like Apple (AAPL 173.07, -1.02), Alphabet (GOOG 1047.41, -6.80), and Facebook (FB 182.42, -0.61) weighed on the group, finishing with losses between 0.3% and 0.7%.

Sill, the tech space is this year's top-performing sector by far, sporting a year-to-date gain of 39.2%. For comparison, the S&P 500 has climbed 17.3% year to date.

It's also worth pointing out that Tuesday's rally was briefly interrupted in the afternoon following reports that North Korea launched a ballistic missile that landed in the Sea of Japan in Japan's exclusive economic zone. President Trump later responded to the launch, saying "it's a situation we will handle."

Elsewhere, equity markets in Europe finished Tuesday broadly higher, with the UK's FTSE (+1.0%) pacing the advance. After European markets were closed, reports surfaced that the EU and UK have reached a deal on the terms of Brexit liabilities. The pound overcame an early loss to add 0.3% on the U.S. dollar (1.1843).

Stock indices in the Asia-Pacific region ended Tuesday mostly flat; China's Shanghai Composite (+0.3%) showed relative strength.

Reviewing Tuesday's heavy dose of economic data, which included November Consumer Confidence, October Advance International Trade In Goods, October Advance Wholesale Inventories, the September FHFA Housing Price Index, and the September S&P Case-Shiller Home Price Index:

The consumer confidence reading for November increased to 129.5 (Briefing.com consensus 124.0) from the prior month's revised reading of 126.2 (from 125.9).
The key takeaway from the report is that consumers are optimistic about the labor market, but are surprisingly reserved about their short-term income prospects. That is noteworthy because high levels of consumer confidence help consumer spending activity, yet it is income growth that drives consumer spending activity.
The Advance report for International Trade in Goods for October showed a deficit of $68.3 billion (Briefing.com consensus -$65.4 billion), up from a deficit of $64.1 billion in September.
The Advance report for Wholesale Inventories for October showed a decrease of 0.4%. The prior month's increase was revised to 0.1% from 0.3%.
The FHFA Housing Price Index rose 0.3% in September (Briefing.com consensus +0.6%), while the August increase was revised to 0.8% from 0.7%.
The Case-Shiller 20-city Index increased 6.2% in September (Briefing.com consensus +6.0%), while the August increase was revised to 5.8% from 5.9%.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00 ET, the second estimate of third quarter GDP (Briefing.com consensus +3.2%) at 8:30 ET, October Pending Home Sales (Briefing.com consensus +0.6%) at 10:00 ET, and the Fed's Beige Book for November at 14:00 ET.

Nasdaq Composite +28.4% YTD
Dow Jones Industrial Average +20.6% YTD
S&P 500 +17.3% YTD
Russell 2000 +13.2% YTD

Dow: +255.93… | Nasdaq: +33.84… | S&P: +25.62…

NASDAQ Adv/Dec 1455/981. …NYSE Adv/Dec 2027/920.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.2% at 86.7248
Dollar index is currently up 0.34% at 93.22
Jan WTI Crude is down 0.28% on the day.
API inventory data is due out at 4:30 pm ET
Futures settle $0.16 lower to $57.95/barrel.
In other energy, Jan Natural Gas settled up $0.11 at $3.13/MMBtu
On the metals:
Dec Gold lost $0.20 to settle at $1294.20/oz, while Dec silver lost $0.20 to $16.82/oz
Dec Copper dropped $0.06 to $3.07/lb
Finally, agriculture:
Dec Corn settled unchanged at $3.5/bu.
Jan Soy settled up $0.0075 at $9.9375/bu.
Dec wheat settled flat at $4.29/bu.

Dow: +236.99… | Nasdaq: +23.71… | S&P: +22.89…

NASDAQ Adv/Dec 1583/1044. …NYSE Adv/Dec 1917/1015.

03:00PM ET

[BRIEFING.COM] Equities have returned to their session highs as investors attempt to shake off North Korea's latest missile launch. The S&P 500 holds a gain of 0.8%.

The financial sector continues to charge ahead, extending its gain to 2.4%. JPMorgan Chase (JPM 100.98, +3.05) and Bank of America (BAC 27.42, +0.83) now hold gains of more than 3.0% apiece, followed closely by other heavyweights like Wells Fargo (WFC 55.32, +1.37) and Citigroup (C 73.27, +1.88).

Today's advance places the financial group on track for its fourth monthly advance in the last five months.

Looking ahead, Autodesk (ADSK 129.79, -0.45) will report earnings this afternoon, followed by Tiffany & Co (TIF 94.22, +0.91) on Wednesday morning. The only other notable company on this week's earnings docket is Kroger (KR 23.27, +0.09), which will report on Thursday.

Dow: +194.24… | Nasdaq: +21.33… | S&P: +21.15…

NASDAQ Adv/Dec 1574/1117. …NYSE Adv/Dec 1851/1073.

02:30PM ET

[BRIEFING.COM] Selling has picked up in recent action, sending the major averages to their worst marks of the afternoon. The S&P 500 has trimmed its gain to 0.5% from 0.8% at its session high, while the Nasdaq (unch) is fighting to stay in positive territory.

Reports that North Korea has fired a ballistic missile began surfacing earlier this afternoon, but it just recently became clear that the missile landed in Japan's exclusive economic zone. Pyongyang's latest act of defiance will surely elicit a response from President Trump, which may create some volatility in the market depending on the harshness of his tone.

As a reminder, equities struggled during the second week of August in reaction to jawboning between the U.S. and North Korea. This war of words was highlighted by President Trump's threat that North Korea will be "met with fire and fury like the world has never seen" if it continues to threaten nuclear action against the United States.

Dow: +125.49… | Nasdaq: +9.58… | S&P: +14.90…

NASDAQ Adv/Dec 1492/1222. …NYSE Adv/Dec 1749/1141.

01:55PM ET

[BRIEFING.COM] Equities continue to trade at recent levels, hovering just a tick below their best marks of the day. The S&P 500 is higher by 0.6%.

The top-weighted technology sector (+0.1%) has struggled today and is currently challenging its session low. Within the group, Apple (AAPL 172.83, -1.26) and Alphabet (GOOG 1049.13, -5.08) are down 0.7% and 0.5%, respectively, while chipmakers NVIDIA (NVDA 211.00, -3.14) and Broadcom (AVGO 280.40, -4.22) have done even worse, losing 1.5% apiece.

Aside from today's underperformance, the tech group has shown little signs of slowing down despite its already massive year-to-date gain of 39.1%. The group has added 2.5% during the month of November, while the S&P 500 has climbed 1.6%.

Dow: +144.15… | Nasdaq: +11.84… | S&P: +15.35…

NASDAQ Adv/Dec 1591/1184. …NYSE Adv/Dec 1778/1115.

01:30PM ET

[BRIEFING.COM] The major averages have backed off their session highs after South Korea's Yonhap reported that North Korea conducted a missile test. While the news has been met with some light selling, stocks remain comfortably in the green, tracking another round of record closes for the key indices. The Dow (+0.7%) is at the forefront of today's advance while the S&P 500 (+0.6%) follows not far behind.

Ten of eleven sectors trade in the green with seven of ten showing gains of at least 0.5%. The top-weighted technology sector (+0.1%) is among today's underperformers, but that has been outweighed by a 1.6% gain in financials. Bank stocks have rallied throughout the day with the advance putting the sector near its early-November high.

Elsewhere, the U.S. Treasury completed this week's slate of auctions with a very weak 7-yr note offering, which tailed the when-issued yield of 2.213% by nearly two basis points. The bid-cover ratio (2.36x) was the lowest since February 2016, coming in well below the 12-auction average of 2.52x. The weak auction spurred a reversal in the Treasury market, which spent the first half of the session in a slow climb. The benchmark 10-yr yield is unchanged at 2.32%.

Dow: +157.36… | Nasdaq: +12.62… | S&P: +15.50…

NASDAQ Adv/Dec 1562/1219. …NYSE Adv/Dec 1778/1114.

01:05PM ET

[BRIEFING.COM] Stocks have climbed to new record highs today, with the financial sector (+1.4%) pacing the advance.

The Dow and the S&P 500 have added 0.6% apiece, while the Nasdaq has advanced a more modest 0.3%. For the most part, the major stock indices have been trending upward since the opening bell and are currently hovering near their best marks of the day.

Jerome Powell's Fed Chair confirmation hearing went largely as expected. Mr. Powell deviated little from the Fed's current policy rhetoric, although he did sound a little more lax than current Fed Chair Janet Yellen in the area of regulation. Specifically, Mr. Powell said financial rules are 'tough enough' and supported a rewrite of the Volcker Rule.

In addition, the Fed Chair nominee all but guaranteed a December rate hike, proposed a target of three to four years to complete the Fed's balance sheet unwind, and said that there aren't any banks in the U.S. that are too big to fail.

Financials have rallied following Mr. Powell's comments, with heavyweights like JPMorgan Chase (JPM 100.07, +2.14), Bank of America (BAC 27.19, +0.60), and Citigroup (C 72.81, +1.42) holding gains of at least 2.0%. Meanwhile, Treasuries have bounced back from earlier weakness, leaving the benchmark 10-yr yield unchanged at 2.32%.

The industrial sector (+0.9%) is also outperforming this afternoon. Within the space, Emerson (EMR 63.78, +1.90) is the top performer, sporting a gain of 3.1%, following news that the company has withdrawn its proposal to acquire Rockwell Automation (ROK 195.25, +3.97) for $225 per share; ROK shares are higher by 2.1%.

On the downside, the lightly-weighted real estate space (-0.4%) is the only sector trading in negative territory. Public Storage (PSA 208.26, -6.67) shows particular weakness, losing 3.1%, after Robert W. Baird downgraded PSA shares to 'Underperform' from 'Neutral.'

Elsewhere, equity markets in Europe finished Tuesday broadly higher, with the UK's FTSE (+1.0%) pacing the advance amid a decrease in the British pound relative to the U.S. dollar. However, the pound has since bounced back and currently trades up 0.1% against the greenback at 1.3322.

Stock indices in the Asia-Pacific region ended Tuesday mostly flat; China's Shanghai Composite (+0.3%) showed relative strength.

Reviewing Tuesday's heavy dose of economic data, which included November Consumer Confidence, October Advance International Trade In Goods, October Advance Wholesale Inventories, the September FHFA Housing Price Index, and the September S&P Case-Shiller Home Price Index:

The consumer confidence reading for November increased to 129.5 (Briefing.com consensus 124.0) from the prior month's revised reading of 126.2 (from 125.9).
The key takeaway from the report is that consumers are optimistic about the labor market, but are surprisingly reserved about their short-term income prospects. That is noteworthy because high levels of consumer confidence help consumer spending activity, yet it is income growth that drives consumer spending activity.
The Advance report for International Trade in Goods for October showed a deficit of $68.3 billion (Briefing.com consensus -$65.4 billion), up from a deficit of $64.1 billion in September.
The Advance report for Wholesale Inventories for October showed a decrease of 0.4%. The prior month's increase was revised to 0.1% from 0.3%.
The FHFA Housing Price Index rose 0.3% in September (Briefing.com consensus +0.6%), while the August increase was revised to 0.8% from 0.7%.
The Case-Shiller 20-city Index increased 6.2% in September (Briefing.com consensus +6.0%), while the August increase was revised to 5.8% from 5.9%.

Dow: +173.02… | Nasdaq: +19.10… | S&P: +17.82…

NASDAQ Adv/Dec 1636/1177. …NYSE Adv/Dec 1784/1084.

12:25PM ET

[BRIEFING.COM] Equity indices are trading near their session highs. The S&P 500 and the Dow show gains of 0.6% apiece, while the Nasdaq (+0.3%) modestly underperforms.

The financial sector continues to extend its gain, which now sits at 1.2%, with heavyweights like JPMorgan Chase (JPM 99.82, +1.89), Bank of America (BAC 27.05, +0.46), and Citigroup (C 72.61, +1.22) leading the charge; the three lenders currently sport gains between 1.7% and 1.9%.

Jerome Powell's Fed Chair confirmation hearing--during which he said the Fed can afford to go more slowly on raising interest rates if inflation remains weak--provided support to the financial group. Mr. Powell also said that he would like to ease 'stress test' requirements for smaller banks.

Elsewhere, equity markets in Europe finished Tuesday broadly higher, with the UK's FTSE (+1.0%) pacing the advance amid a decrease in the British pound relative to the U.S. dollar; the pound is currently down 0.7% against the greenback at 1.3226--which marks a one-week low.

Dow: +146.34… | Nasdaq: +20.33… | S&P: +15.59…

NASDAQ Adv/Dec 1753/1074. …NYSE Adv/Dec 1794/1075.

12:00PM ET

[BRIEFING.COM] Stocks have continued to tick higher, with financial shares leading the charge. The S&P 500 is up 0.5%, while its financial sector shows a gain of 1.0%.

The industrial sector (+0.8%) trades just behind the financial group at the top of the sector standings. Within the sector, Emerson (EMR 63.81, +1.93) is the top performer, sporting a gain of 3.2%, following news that the company has withdrawn its proposal to acquire Rockwell Automation (ROK 194.54, +3.50) for $225 per share.

Elsewhere within the industrial space, transports are also outperforming, sending the Dow Jones Transportation Average higher by 0.7%. Alaska Air (ALK 66.82, +1.46) shows particular strength (+2.2%) and is on track to break its three-session losing streak.

Dow: +122.83… | Nasdaq: +15.73… | S&P: +12.09…

NASDAQ Adv/Dec 1764/1096. …NYSE Adv/Dec 1770/1081.

11:30AM ET

[BRIEFING.COM] The major indices have continued climbing, pushing the S&P 500 0.4% above its unchanged mark.

Lowe's (LOW 80.59, +0.76) and Home Depot (HD 175.67, +1.51) are outperforming this morning, adding 1.2% and 1.0%, respectively. Home Depot shares were upgraded to 'Overweight' from 'Neutral' at Atlantic Equities. However, the same firm downgraded Lowe's shares to 'Neutral' from 'Overweight.'

Meanwhile, real estate names are struggling today, evidenced by the real estate sector's decline of 0.6%, after Robert W. Baird downgraded Public Storage (PSA 206.63, -8.29) shares to 'Underperform' from 'Neutral'; PSA shares currently show a loss of 3.9%.

Dow: +87.24… | Nasdaq: +13.06… | S&P: +9.32…

NASDAQ Adv/Dec 1760/1099. …NYSE Adv/Dec 1669/1152.

11:05AM ET

[BRIEFING.COM] Stocks have extended their opening gains slightly, pushing both the S&P 500 (+0.3%) and the Dow (+0.4%) to new all-time highs.

Ten of the S&P 500's eleven sectors are trading in positive territory, with gains ranging between 0.1% and 0.7%. The energy sector (+0.7%) is the top performer, bouncing back from yesterday's 1.0% decline, followed by the influential financial space (+0.6%). The lightly-weighted real estate group (-0.6%) is the lone decliner.

In Washington, Jerome Powell is currently engaged in his Fed Chair confirmation hearing. His comments have not deviated from the central bank's current rhetoric thus far.

Dow: +81.30… | Nasdaq: +7.19… | S&P: +8.25…

NASDAQ Adv/Dec 1722/1115. …NYSE Adv/Dec 1682/1103.

10:30AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 86.9
Dollar index is currently up 0.28% at 93.16
Jan WTI crude is down 0.1% on the day.
Futures are $0.06 lower to $58.05/barrel.
In other energy, Jan natural gas is up $0.10 at $3.12/MMBtu
Metals:
Dec gold gained $0.80 and trades at $1295.20/oz, while Dec silver lost $0.14 to $16.88/oz
Dec copper dropped 0.05 to $3.08/lb
Finally, agriculture:
Dec corn is down $0.01 at $3.51/bu.
Jan soy is down $0.04 at $9.9175/bu.
Dec wheat is flat at $4.28/bu.

Dow: +79.76… | Nasdaq: +9.73… | S&P: +8.17…

NASDAQ Adv/Dec 1584/1221. …NYSE Adv/Dec 1604/1145.

10:05AM ET

[BRIEFING.COM] The major averages continue to trade a step above their flat lines.

Just in, the consumer confidence reading for November increased to 129.5 (Briefing.com consensus 124.0) from the prior month's revised reading of 126.2 (from 125.9).

Dow: +75.54… | Nasdaq: +3.97… | S&P: +5.92…

NASDAQ Adv/Dec 1517/1230. …NYSE Adv/Dec 1621/1069.

09:40AM ET

[BRIEFING.COM] The major U.S. indices are trading higher in the opening minutes of today's session, with the S&P 500 sporting a gain of 0.2%.

Most of the 11 sectors are trading in the green, but gains have been limited thus far; the top-weighted technology sector is among the top performers with a modest gain of 0.3%. On the flip side, the consumer staples (-0.1%) and telecom services (-0.1%) groups show relative weakness.

As a reminder, the November Consumer Confidence Index (Briefing.com consensus 124.0) will be released shortly at 10:00 ET.

Dow: +64.05… | Nasdaq: +7.25… | S&P: +4.78…

NASDAQ Adv/Dec 1464/1220. …NYSE Adv/Dec 1517/1059.

09:17AM ET

[BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +16.10.

The U.S. equity market is set to begin Tuesday's session in positive territory as the S&P 500 futures trade six points, or 0.2%, above fair value.

Investors will be keeping an eye on Washington, where Jerome Powell is scheduled to appear before the Senate Banking Committee at 9:45 ET for his Fed Chair confirmation hearing. In addition, President Trump is expected to discuss tax reform with Senate Republicans over lunch.

Several economic reports have crossed the wires this morning, including October Advance International Trade In Goods, October Advance Wholesale Inventories, the September FHFA Housing Price Index, and the September S&P Case-Shiller Home Price Index:

The Advance report for International Trade in Goods for October showed a deficit of $68.3 billion (Briefing.com consensus -$65.4 billion), up from a deficit of $64.1 billion in September.
The Advance report for Wholesale Inventories for October showed a decrease of 0.4%. The prior month's increase was revised to 0.1% from 0.3%.
The FHFA Housing Price Index rose 0.3% in September (Briefing.com consensus +0.6%), while the August increase was revised to 0.8% from 0.7%.
The Case-Shiller 20-city Index increased 6.2% in September (Briefing.com consensus +6.0%), while the August increase was revised to 5.8% from 5.9%.

Today's last economic report--November Consumer Confidence (Briefing.com consensus 124.0)--will be released at 10:00 ET.

U.S. Treasuries have ticked up slightly following this morning's economic releases, but the 2yr-10yr spread is still under pressure. The yield on the benchmark 10-yr Treasury note is flat at 2.32%, while the 2-yr yield is up one basis point at 1.74%.

In corporate news, Buffalo Wild Wings (BWLD 156.00, +9.60) has jumped 6.6% after announcing that it will be acquired by Arby's Restaurant Group for $157 per share in cash. That is a 33.9% premium over the unaffected stock price on November 13, which is when speculation of a potential deal was reported in the press.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.60. Nasdaq futures vs fair value: +12.40.

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

Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note, but the losses were contained. The Chinese government reportedly banned certain funds from selling large blocks of equities. Bank of Japan policymaker Goushi Kataoka said that the central bank should strive to reach the 2.0% target by fiscal year 2018. The Japanese government will reportedly cut taxes for companies with plans for strengthening their cybersecurity.

In economic data:
South Korea's December Manufacturing BSI Index 84 (last 87)

---Equity Markets---

Japan's Nikkei settled just below its flat line. Tokuyama, Komatsu, Mitsui Mining, Ebara, Tokyo Electron, SUMCO, Nitto Denko, Dainippon Screen Manufacturing, Nippon Electric Glass, and Hitachi Construction lost between 1.6% and 8.1%. On the upside, Nippon Sheet Glass, Kikkoman, TOTO, Obayashi, Ricoh, Toho, Familymart, and Fast Retailing gained between 1.1% and 2.7%.
Hong Kong's Hang Seng also finished just below the unchanged level. Financials and property names like AIA Group, Wharf Real Estate, Wharf Holdings, Bank of China, Citic Pacific, ICBC, Hang Lung Properties, and SHK Properties posted losses between 0.6% and 2.5%.
China's Shanghai Composite added 0.3%. Anyang Iron & Steel, Fangda Special Steel Technology, YTO Express, Lingyuan Iron & Steel, Anhui Conch Cement, and Huaxin Cement posted gains between 6.1% and 9.0%.
India's Sensex shed 0.3%. NTPC, Bharti Airtel, Infosys, ICICI Bank, and SBI posted losses between 0.8% and 1.9% while Maruti Suzuki, Bajaj Auto, Hindustan Unilever, and AXIS Bank gained between 0.5% and 1.5%.

Major European indices trade on a modestly higher note while the euro trades flat against the dollar at 1.1898. The Bank of England's financial stability report called on UK banks to increase their collective capital by GBP6 billion to guard against material macroeconomic risks. Reports suggest that Eurogroup Chief Jeroen Dijsselbloem may remain in his role for another six months due to Germany's inability to form a government. Mr. Dijsselbloem's term is set to end on January 13. Coalition talks in Germany are not expected to resume until next year with SPD leader Martin Schulz facing external pressure to form an alliance while some SPD members are reportedly worried about the future of the party if a grand coalition is formed again.

In economic data:
Eurozone October M3 Money Supply +5.0% year-over-year (consensus 5.1%; last 5.1%). Private Sector Loans +2.7% year-over-year (consensus 2.8%; last 2.7%)
Germany's October Import Price Index +0.6% month-over-month, as expected (last 0.9%); +2.6% year-over-year, as expected (last 3.0%). December GfK Consumer Climate 10.7 (expected 10.8; last 10.7)
France's November Consumer Confidence 102 (expected 101; last 100)
Spain's October Retail Sales -0.1% year-over-year (consensus 2.0%; last 1.6%)

---Equity Markets---

Germany's DAX is higher by 0.3%. Heavyweights like Continental, SAP, Bayer, Volkswagen, Daimler, and BASF show gains between 0.2% and 0.7% while BMW and Deutsche Bank are both down near 0.7%.
France's CAC trades up 0.5% amid gains in most components. Carrefour, Michelin, Danone, Orange, L'Oreal, Pernod Ricard, Renault, Airbus Group, and STMicroelectronics are up between 0.5% and 2.3%.
UK's FTSE has climbed 0.7% with help from consumer names. Tesco, ITV, Diageo, Morrison Supermarkets, Unilever, Sainsbury, Merlin Entertainments, and Compass show gains between 0.7% and 1.9%.

08:34AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +13.40.

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

Just in, the Advance report for International Trade in Goods for October showed a deficit of $68.3 billion (Briefing.com consensus -$65.4 billion), up from a deficit of $64.1 billion in September.

Separately, the Advance report for Wholesale Inventories for October showed a decrease of 0.4%. The prior month's increase was revised to 0.1% from 0.3%.

08:00AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +11.90.

The equity market is on course to open today's session modestly higher following Monday's unenthusiastic performance, which left the major U.S. indices little changed. The S&P 500 futures are currently trading four points, or 0.1%, above fair value at 2604.

Elsewhere, stock indices in the Asia-Pacific region ended Tuesday mostly flat, while the Euro Stoxx 50 sports a gain of 0.4%.

Jerome Powell, who President Trump nominated as the next Chair of the Federal Reserve, will appear before the Senate Banking Committee today--at approximately 9:45 ET--for his confirmation hearing. Investors will be analyzing Mr. Powell's comments, looking for any insight as to how he plans to lead the Fed going forward.

Also in Washington, President Trump is expected to discuss tax reform with Senate Republicans today during their weekly luncheon. The Senate could vote on its version of a tax reform bill as early as this Thursday.

Investors will receive a heavy dose of economic data today. October Advance International Trade In Goods (Briefing.com consensus -$65.4 billion) and October Advance Wholesale Inventories will both be released at 8:30 ET and will be followed by the September FHFA Housing Price Index (Briefing.com consensus +0.6%) and the September S&P Case-Shiller Home Price Index (Briefing.com consensus +6.0%), both of which will be released at 9:00 ET.

Tuesday's last economic report--November Consumer Confidence (Briefing.com consensus 124.0)--will be released at 10:00 ET.

U.S. Treasuries are trading lower across the curve this morning, with shorter-dated issues showing relative weakness. The yield on the benchmark 10-yr Treasury note is up one basis point at 2.33%, while the 2-yr yield is higher by two basis points at 1.76%.

Also of note, West Texas Intermediate crude futures are down 0.7% at $57.72 per barrel and the U.S. Dollar Index is up 0.2% at 93.02.

In U.S. corporate news:

Buffalo Wild Wings (BWLD 155.00, +8.60): +5.9% after announcing that it will be acquired by Arby's Restaurant Group for $157 per share in cash.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note, but the losses were contained. Japan's Nikkei unch, Hong Kong's Hang Seng unch, China's Shanghai Composite +0.3%, India's Sensex -0.3%.
In economic data:
South Korea's December Manufacturing BSI Index 84 (last 87)
In news:
The Chinese government reportedly banned certain funds from selling large blocks of equities.
Bank of Japan policymaker Goushi Kataoka said that the central bank should strive to reach the 2.0% target by fiscal year 2018.
The Japanese government will reportedly cut taxes for companies with plans for strengthening their cybersecurity.

Major European indices trade on a modestly higher note while the euro and pound show slim losses against the dollar. Germany's DAX +0.3%, France's CAC +0.5%, UK's FTSE +0.5%.
In economic data:
Eurozone October M3 Money Supply +5.0% year-over-year (consensus 5.1%; last 5.1%). Private Sector Loans +2.7% year-over-year (consensus 2.8%; last 2.7%)
Germany's October Import Price Index +0.6% month-over-month, as expected (last 0.9%); +2.6% year-over-year, as expected (last 3.0%). December GfK Consumer Climate 10.7 (expected 10.8; last 10.7)
France's November Consumer Confidence 102 (expected 101; last 100)
Spain's October Retail Sales -0.1% year-over-year (consensus 2.0%; last 1.6%)
In news:
The Bank of England's financial stability report called on UK banks to increase their collective capital by GBP6 billion to guard against material macroeconomic risks.
Reports suggest that Eurogroup Chief Jeroen Dijsselbloem may remain in his role for another six months due to Germany's inability to form a government. Mr. Dijsselbloem's term is set to end on January 13.
Coalition talks in Germany are not expected to resume until next year with SPD leader Martin Schulz facing external pressure to form an alliance while some SPD members are reportedly worried about the future of the party if a grand coalition is formed again.

06:18AM ET

[BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +9.00.
06:18AM ET

[BRIEFING.COM] Nikkei...22,486.24...-9.80...0.00

Hang Seng...29,680.85...-5.30...0.00

06:18AM ET

[BRIEFING.COM] FTSE...7,418.84...+35.00...+0.50%

DAX...13,046.29...+46.00...+0.40%

04:20PM ET

[BRIEFING.COM] Equities opened the week with a flat, unenthusiastic performance on Monday following the long Thanksgiving weekend.

The S&P 500 Index (unch) and the Nasdaq Composite (-0.2%) finished with modest losses, while the Dow Jones Industrial Average (+0.1%) eked out a slim victory. All three major stock indices kept within a pretty narrow range throughout the session amid lighter-than-usual trading volume.

More than half of the S&P 500's 11 sectors settled Monday's session in positive territory, but gains were limited. The lightly-weighted telecom services and utilities groups were the top performers, adding 0.4% and 0.5%, respectively, followed by the more influential industrial group, which finished higher by just 0.2%.

Conversely, the energy sector was the weakest group, moving lower by 1.0%, as the price of crude oil retreated from its best level in over two years; West Texas Intermediate crude futures finished the session lower by 1.4% at a price of $58.13 per barrel. Monday's loss extends the energy sector's year-to-date decline to 10.8%.

On a related note, OPEC and non-OPEC nations, including Russia, will meet in Vienna on Thursday to discuss extending their supply cut agreement beyond the current end date of March 2018. Most analysts believe that the oil producers will reach an extension agreement, but the length of said extension remains unclear.

Other notable events on this week's calendar include the Fed Chair confirmation hearing for Jerome Powell (Tuesday), current Fed Chair Janet Yellen's semiannual testimony before the Joint Economic Committee (Wednesday), and a vote on the Senate's tax reform bill (expected Thursday).

Corporate news was pretty light on Monday, but it's worth noting that shares of Time (TIME 18.50, +1.60) jumped 9.5% after the magazine company--which, in addition to Time, owns brands like Sports Illustrated, Fortune, and People--agreed to be acquired by Meredith (MDP 67.55, +6.55) for $18.50 per share.

In addition, retailers advanced on 'Cyber Monday' amid continued signs of an upbeat start to the holiday shopping season. L Brands (LB 50.34, +1.98) showed particular strength, adding 4.1%, as did online giant Amazon (AMZN 1195.83, +9.83), which climbed 0.8%--settling at a new record high.

U.S. Treasuries moved mostly higher in yet another curve-flattening trade that cut the 2yr-10yr spread to 58 basis points from 60 bps on Friday. The yield on the benchmark 10-yr Treasury note slipped two basis points to 2.32%, while the 2-yr yield finished unchanged at 1.74%. Yields move inversely to prices.

Elsewhere, the Euro Stoxx 50 dropped 0.5% despite news over the weekend that German Chancellor Angela Merkel's Christian Democratic Union party has agreed to pursue a grand coalition with the Social Democrats in an attempt to break a political deadlock and avoid new elections.

Stocks in the Asia-Pacific region also finished Monday broadly lower, with China's Shanghai Composite (-0.9%) pacing the retreat.

Reviewing Monday's economic data, which was limited to October New Home Sales:

New Home Sales hit an annualized rate of 685,000 in October, while the Briefing.com consensus expected a reading of 629,000. The September figure was revised to 645,000 from 667,000.
The key takeaway from the report is that there was sales growth in all regions, led by a huge pickup in sales in the Northeast and the Midwest, underscoring the solid demand for new homes.

On Tuesday, investors will receive October Advance International Trade In Goods (Briefing.com consensus -$65.4 billion) at 8:30 ET, October Advance Wholesale Inventories also at 8:30 ET, the September FHFA Housing Price Index (Briefing.com consensus +0.6%) at 9:00 ET, the September S&P Case-Shiller Home Price Index (Briefing.com consensus +6.0%) also at 9:00 ET, and November Consumer Confidence (Briefing.com consensus 124.0) at 10:00 ET.

Nasdaq Composite +27.8% YTD
Dow Jones Industrial Average +19.3% YTD
S&P 500 +16.2% YTD
Russell 2000 +11.5% YTD

Dow: +22.79… | Nasdaq: -10.64… | S&P: -1.00…

NASDAQ Adv/Dec 1139/1538. …NYSE Adv/Dec 1107/1807.

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

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

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)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr