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 6:37 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: December 4th Monday Trade Results - Profits $2575.00
PostPosted: Mon Dec 04, 2017 11:52 pm 
Offline
Site Admin

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

Price Action 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:
120417-wrbtrader-Price-Action-Trading-Broker-PnL-Statement-Profit+2575.00.png
120417-wrbtrader-Price-Action-Trading-Broker-PnL-Statement-Profit+2575.00.png [ 96.51 KiB | Viewed 307 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 @ $2,575.00 dollars or +51.50 points, Light Crude Oil CL ($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 @ $2,575.00 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 Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=174&t=2710

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) at the above price action trading chat log link as each 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 especially those using VPNs or rented IP addresses 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=335&t=3584 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:
120417-Key-Price-Action-Markets.png
120417-Key-Price-Action-Markets.png [ 1.08 MiB | Viewed 238 times ]

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

The Market at 04:25PM ET
Dow: +58.46… | Nasdaq: -72.22… | S&P: -2.78…
NASDAQ Vol: ---… Adv: 1125… Dec: 1097…
NYSE Vol: 987.2 mln… Adv: 1497… Dec: 1454…

Moving the Market

Senate passes its version of a tax reform bill

ABC corrects Friday report; says President Trump asked Michael Flynn to contact Russians as president-elect, not as candidate for president (as was originally reported)

Top-weighted technology sector tumbles, keeps broader market's gain in check

Sector Watch
Strong: Financials, Consumer Discretionary, Industrials, Materials, Consumer Staples, Telecom Services
Weak: Technology, Health Care, Utilities, Real Estate

04:25PM ET

[BRIEFING.COM] The major stock indices ended Monday mixed as weakness in technology and health care shares limited the impact of gains elsewhere.

Equities opened the day at record highs, but technology shares moved sharply lower soon thereafter. The Dow (+0.2%) still managed to settle at a new all-time high but, like its peers, finished near its lowest mark of the day. The S&P 500 (-0.1%) held a gain until the very end, while the tech-heavy Nasdaq (-1.1%) was weak throughout the session.

At their best marks of the day, the Dow, S&P 500, and Nasdaq held gains of 1.3%, 0.9%, and 0.8%, respectively.

Six of eleven sectors finished the session in positive territory, with all six adding at least 0.8% apiece--financials (+1.6%), consumer discretionary (+1.2%), industrials (+0.8%), materials (+1.0%), consumer staples (+0.9%), and telecom services (+1.6%). The prospect of tax reform largely fueled the broad strength.

The U.S. Senate passed its version of a tax reform bill over the weekend, placing the GOP one step closer to fulfilling its promise of the largest tax overhaul in more than 30 years. Lawmakers will now attempt to reconcile the Senate's version with the version the House passed a few weeks back--a process Republicans are hoping to complete by Christmas.

In addition, a correction to a report that ABC released on Friday also acted as a bullish catalyst. The news agency originally reported that President Trump asked Michael Flynn to contact the Russians during his presidential campaign but later edited that statement, saying the request was made after Mr. Trump had already won the election.

Within the consumer discretionary group, Dow component Walt Disney (DIS 110.22, +4.97) jumped 4.7% following a Wall Street Journal report that the company has restarted talks to acquire assets from 21st Century Fox (FOXA 33.09, +0.90), and retailers sent the SPDR S&P Retail ETF (XRT 44.52, +1.00) higher by 2.3%.

In the industrial space, transports also showed particular strength, evidenced by the Dow Jones Transportation Average (+1.8%), which closed at a new record high.

However, the impact of the aforementioned gains was largely mitigated by the top-weighted technology sector, which fell to profit taking at the tail end of an impressive year. The group dropped 1.9%--marking the second time in less than a week it has lost more than 1.0% in a day--but still remains the year's top-performing sector with a year-to-date gain of 33.5%.

For comparison, the S&P 500 has added 17.9% year to date, and the second-best performer--financials--is up 20.0%.

The heavily-weighted health care sector also did some damage on Monday, losing 1.2%. Within the space, health insurer Aetna (AET 178.70, -2.61) lost 1.4% after announcing it will be acquired by CVS Health (CVS 71.69, -3.43) for $207 per share in cash and stock. CVS shares tumbled 5.0%.

In the bond market, U.S. Treasuries moved lower in another curve-flattening trade that reduced the 2yr-10yr spread by two basis points. The yield on the benchmark 10-yr Treasury note climbed two basis points to 2.38%, while the 2-yr yield jumped four basis points to 1.81%.

Elsewhere, equities in Europe finished Monday broadly higher, with the Euro Stoxx 50 adding 1.5%, while indices in the Asia-Pacific region settled mixed. Brexit negotiations have reportedly stalled due to differences over the Irish border, which divides the Republic of Ireland (EU member) and Northern Ireland (part of the UK).

Reviewing Monday's economic data, which was limited to October Factory Orders:

The Factory Orders Report for October showed a decrease of 0.1% (Briefing.com consensus -0.4%), while the September increase was revised to 1.7% from 1.4%.
The key takeaway from the report is that business spending is increasing to help drive stronger GDP growth.

On Tuesday, investors will receive just two economic reports--the October Trade Balance (Briefing.com consensus -$47.4 billion) and November ISM Services (Briefing.com consensus 59.3). The two pieces of data will be released at 8:30 ET and 10:00 ET, respectively.

Nasdaq Composite +25.9% YTD
Dow Jones Industrial Average +22.9% YTD
S&P 500 +17.9% YTD
Russell 2000 +12.9% YTD

Dow: +58.46… | Nasdaq: -72.22… | S&P: -2.78…

NASDAQ Adv/Dec 1125/1097. …NYSE Adv/Dec 1497/1454.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.85% at 85.7451
Dollar index is currently up 0.34% at 93.21
Jan WTI Crude is down 1.59% on the day.
Futures settle $0.93 lower to $57.43/barrel.
In other energy, Jan Natural Gas settled down $0.07 at $2.99/MMBtu
On the metals:
Feb Gold lost $5.2 to settle at $1277.1/oz, while Mar silver lost $0.01 to $16.38/oz
Mar copper settled flat at $3.09/lb
Finally, agriculture:
Mar Corn settled down $0.01 at $3.53/bu.
Jan Soy settled down $0.005 at $9.985/bu.
Mar wheat settled flat at $4.35/bu.

Dow: +102.94… | Nasdaq: -68.71… | S&P: -0.7…

NASDAQ Adv/Dec 1116/1306. …NYSE Adv/Dec 1517/1441.

03:00PM ET

[BRIEFING.COM] The major U.S. indices are trading near their worst marks of the day moving into the final stretch, but the Dow (+0.6%) and the S&P 500 (+0.2%) are still on track to register new record closes.

Looking ahead, investors will receive the Employment Situation Report for November on Friday, with the Briefing.com consensus expecting the addition of 190,000 nonfarm payrolls, a 0.3% increase in average hourly earnings, and an unemployment rate of 4.1%, but there aren't many other influential economic reports on this week's calendar.

As for earnings, AutoZone (AZO 705.21, +26.81) will report on Tuesday morning, followed by Broadcom (AVGO 268.25, -3.31) and H&R Block (HRB 26.12, +0.26) on Wednesday and Dollar General (DG 91.01, +3.01) on Thursday.

Dow: +148.83… | Nasdaq: -42.73… | S&P: +6.35…

NASDAQ Adv/Dec 1316/1254. …NYSE Adv/Dec 1648/1305.

02:25PM ET

[BRIEFING.COM] The major indices have slipped since the last update, with the S&P 500 trimming its gain to 0.3%.

Blue Apron (APRN 3.89, +0.66) has spiked 20.5% today after being upgraded to 'Equal Weight' from 'Underweight' at Barclays. The meal kit company, which sends recipes and ingredients to its customers' front doors, has struggled since launching its IPO in June at a price of $10.00 per share.

In the currency market, the U.S. dollar is having a good day, evidenced by the U.S. Dollar Index, which is up 0.4% at 93.16. The greenback is up 0.4% against the euro (1.1853) and 0.4% against the Japanese yen (112.66), but trades flat against the British pound (1.3475).

Dow: +155.06… | Nasdaq: -30.40… | S&P: +8.59…

NASDAQ Adv/Dec 1386/1238. …NYSE Adv/Dec 1723/1212.

01:55PM ET

[BRIEFING.COM] Stocks have been trending sideways as of late, keeping the S&P 500 around 0.5% above its unchanged mark.

The S&P 500's energy sector has had a good showing today, adding 0.9%, despite a decline in the price of crude oil; West Texas Intermediate crude futures are down 1.5% at a price of $57.47 per barrel. Dow components Chevron (CVX 121.73, +2.22) and Exxon Mobil (XOM 83.85, +0.39) hold gains of 1.8% and 0.5%, respectively.

In the bond market, U.S. Treasuries have sold off, in a curve-flattening trade, amid today's equity rally. The yield on the benchmark 10-yr Treasury note is up two basis points at 2.38%, while the 2-yr yield is up four basis points at 1.81%. Yields move inversely to prices.

Dow: +194.64… | Nasdaq: -14.99… | S&P: +13.82…

NASDAQ Adv/Dec 1482/1147. …NYSE Adv/Dec 1815/1095.

01:35PM ET

[BRIEFING.COM] The major U.S. indices continue to drift sideways following this morning's initial pop which pushed stocks to fresh record highs.

A look inside the Dow Jones Industrial Average shows that Walt Disney (DIS 110.59, +5.34), Boeing (BA 279.13, +7.75), & DowDupont (DWDP 72.91, +1.90) are outperforming. Disney is leading the Dow higher following reports that the company has re-engaged in talks with 21st Century Fox (FOXA 33.39, +1.20) about buying some of its assets, while DowDuPont is advancing after being resumed with a Buy by analysts at Goldman Sachs.

Conversely, Microsoft (MSFT 82.11, -2.15) is the worst-performing Dow component as we are again seeing a large rotation out of the tech sector amid broader market strength.

With today's rally in the DJIA, the index is now up 0.66% to start December.

Dow: +199.90… | Nasdaq: -10.76… | S&P: -14.18…

NASDAQ Adv/Dec 1496/1150. …NYSE Adv/Dec 1799/1118.

01:05PM ET

[BRIEFING.COM] Equities are trading mostly higher this afternoon, but are a ways off the record intraday highs they touched earlier in the session largely due to weakness in technology shares.

The Dow and the S&P 500 are up 0.7% and 0.4%, respectively, but the tech-heavy Nasdaq is down 0.2%. At current levels, both the Dow and the S&P 500 are on track to finish at new all-time highs. The small-cap Russell 2000 (+0.7%) is also on course for a new record close.

Today's rally has been primarily fueled by the prospect of a tax overhaul after the Senate passed its version of a tax reform bill over the weekend. The Senate will now have to reconcile its bill with the one that the House passed a few weeks ago--a process that the GOP hopes to complete by Christmas.

In addition, a correction to a report that ABC released on Friday has also helped underpin equities. The news agency originally reported that President Trump asked Michael Flynn to contact the Russians during his campaign for president, but later clarified that the request was made after Mr. Trump had already won the election.

Seven of eleven sectors are trading in the green this afternoon, most of which hold gains of more than 1.0%. The heavily-weighted financial sector (+2.0%) is leading today's advance, followed closely by the consumer discretionary (+1.5%), industrials (+1.5%), materials (+1.7%), and telecom services (+2.0%) groups.

Within the consumer discretionary space, retailers show particular strength--pushing the SPDR S&P Retail ETF (XRT 44.59, +1.07) higher by 2.4%--and Dow component Walt Disney (DIS 110.33, +5.08) is up 4.9% following a Wall Street Journal report that the company has restarted talks to acquire assets from 21st Century Fox (FOXA 33.34, +1.15).

Meanwhile, the industrial sector has been especially helped by transports, which have sent the Dow Jones Transportation Average higher by 2.4%.

On the flip side, the top-weighted technology sector has dropped 1.0%, effectively keeping the S&P 500's gain in check. Chipmakers are particularly weak, evidenced by the 1.5% decrease in the PHLX Semiconductor Index, while Microsoft (MSFT 82.20, -2.06) is trading lower by 2.5%.

The health care space (-0.2%) also underperforms, with health care insurer Aetna (AET 180.22, -1.09) showing a loss of 0.6%. The company held a gain of more than 2.0% at the opening bell after agreeing to be acquired by CVS Health (CVS 71.60, -3.52) for $207 per share in cash and stock over the weekend. CVS shares trade lower by 4.7%.

In the bond market, U.S. Treasuries are solidly lower, sending yields higher across the curve; the benchmark 10-yr yield is up three basis points at 2.39%.

Elsewhere, equities in Europe finished Monday broadly higher, evidenced by the Euro Stoxx 50 (+1.5%), while indices in the Asia-Pacific region ended mixed.

Reviewing Monday's economic data, which was limited to October Factory Orders:

The Factory Orders Report for October showed a decrease of 0.1% (Briefing.com consensus -0.4%), while the September increase was revised to 1.7% from 1.4%.
The key takeaway from the report is that business spending is increasing to help drive stronger GDP growth.

Dow: +203.37… | Nasdaq: -11.06… | S&P: +14.14…

NASDAQ Adv/Dec 1520/1147. …NYSE Adv/Dec 1778/1115.

12:25PM ET

[BRIEFING.COM] The major averages continue to trade mixed; the Dow and S&P 500 hold respective gains of 0.9% and 0.5%, while the Nasdaq is lower by 0.3%.

Seven sectors are trading in the green this afternoon--financials (+2.1%), materials (+1.7%), telecom services (+1.7%), industrials (+1.6%), consumer discretionary (+1.5%), energy (+1.2%), and consumer staples (+0.6%)--while four sectors are trading in the red--health care (-0.1%), utilities (-0.3%), real estate (-0.9%), and technology (-1.1%).

Elsewhere, equities in Europe finished Monday broadly higher, evidenced by the Euro Stoxx 50, which added 1.5%.

Dow: +209.95… | Nasdaq: -28.13… | S&P: +12.52…

NASDAQ Adv/Dec 1550/1138. …NYSE Adv/Dec 1889/997.

11:55AM ET

[BRIEFING.COM] The S&P 500 is higher by 0.5% as its top-weighted technology sector (-1.5%) continues to mitigate solid gains from most other groups.

In addition to technology, the heavily-weighted health care sector--which comprises around 14% of the S&P 500--is struggling today, showing a loss of 0.1%.

Health care insurer Aetna (AET 180.26, -1.02) has retraced its earlier gain, which amounted to as much as 2.2%, and now holds a loss of 0.6%. The company agreed to be acquired by CVS Health (CVS 70.69, -4.42) for $207 per share in cash and stock over the weekend. CVS shares trade lower by 6.1%.

Meanwhile, the lightly-weighted real estate sector (-0.8%) also trades in the red.

Dow: +231.04… | Nasdaq: -29.43… | S&P: +13.19…

NASDAQ Adv/Dec 1560/1149. …NYSE Adv/Dec 1948/921.

11:25AM ET

[BRIEFING.COM] The major U.S. indices continue to trade near their recent levels; the S&P 500 is up 0.5%.

Retailers are rallying today, sending the SPDR S&P Retail ETF (XRT 44.81, +1.29) higher by 3.0%, with names like Target (TGT 62.51, +3.00), Gap (GPS 33.92, +1.93), Kohl's (KSS 50.67, +2.62), Macy's (M 25.94, +1.76), and Foot Locker (FL 46.06, +2.74) pacing the advance; the five names hold gains between 5.2% and 7.2%.

The retail rally has helped place the S&P 500's consumer discretionary sector (+1.6%) near the top of today's sector standings.

Elsewhere within the sector, Dow component Walt Disney (DIS 111.62, +6.38) is up 6.1% following a Wall Street Journal report that the media company has restarted talks to acquire assets from 21st Century Fox (FOXA 33.70, +1.52); FOXA shares are also higher, adding 4.7%.

Dow: +227.67… | Nasdaq: -23.86… | S&P: +13.76…

NASDAQ Adv/Dec 1552/1189. …NYSE Adv/Dec 1859/984.

11:00AM ET

[BRIEFING.COM] Equity indices have slipped from their best marks of the session.

The tech-heavy Nasdaq has been most heavily affected, retracing its entire opening gain and moving into negative territory; the index is down 0.5% after holding a gain of around 0.7%. Meanwhile, the Dow is still solidly higher, up 1.0%, while the S&P 500 holds a modest gain of 0.4%.

Nine of eleven sectors are trading in the green, with financials (+1.9%), consumer discretionary (+1.4%), industrials (+1.7%), materials (+1.4%), and telecom services (+1.5%) all showing gains of more than 1.0%. However, the top-weighted technology sector has dropped 1.7%, keeping the broader market's gain in check.

Within the tech group, chipmakers are particularly weak, sending the PHLX Semiconductor Index lower by 2.6%. Meanwhile, mega caps like Microsoft (MSFT 82.53, -1.74), Facebook (FB 171.36, -3.66), and Alphabet (GOOG 998.00, -12.17) show losses between 1.2% and 2.1%.

Today's performance looks very similar to last Wednesday's, when the technology sector dropped 2.6% while most other sectors moved solidly higher. Still, the tech space is by far 2017's best-performing group, sporting a year-to-date gain of 34.0%.

Dow: +235.36… | Nasdaq: -31.42… | S&P: +11.89…

NASDAQ Adv/Dec 1518/1259. …NYSE Adv/Dec 1773/1056.

10:55AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 86.48
Dollar index is currently up 0.42% at 93.28
Jan WTI crude is down 1.34% on the day.
Futures are $0.78 lower to $57.58/barrel.
In other energy, Jan natural gas is down $0.04 at $3.02/MMBtu
Metals:
Feb gold lost $3.5 and trades at $1278.8/oz, while Mar silver lost $0.08 to $16.31/oz
Mar copper remains unchanged at $3.09/lb
Finally, agriculture:
Mar corn is down $0.02 at $3.57/bu.
Jan soy is up $0.09 at $10.0275/bu.
Mar wheat is up $0.01 at $4.4/bu.


10:45AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.9% at 86.4793
Dollar index is currently up 0.18% at 93.28.
Jan WTI crude is down on the day.
Futures are $0.79 lower to $57.57/barrel.
In other energy, Jan natural gas is down $0.044 at $3.017/MMBtu
Metals:
Feb gold lost $5.40 and trades at $1276.90/oz, while March silver dropped $0.068 to $16.32/oz
March copper lost $0.0045 to $3.088/lb
Finally, agriculture:
March corn is down $0.024 at $3.56/bu.
Jan soy is down $0.086 at $10.03/bu.
March wheat is down $0.04 at $4.39/bu.

Dow: +287.87… | Nasdaq: -2.2… | S&P: +18.92…

NASDAQ Adv/Dec 1695/1086. …NYSE Adv/Dec 1919/921.

10:00AM ET

[BRIEFING.COM] The major averages are still higher this morning, but the tech-heavy Nasdaq (+0.3%) has retraced much of its opening gain.

Just in, the Factory Orders Report for October showed a decrease of 0.1% (Briefing.com consensus -0.4%), while the September increase was revised to 1.7% from 1.4%.

Dow: +247.10… | Nasdaq: +27.36… | S&P: +19.25…

NASDAQ Adv/Dec 1990/769. …NYSE Adv/Dec 2062/723.

09:40AM ET

[BRIEFING.COM] The major U.S. indices are trading solidly higher in the opening minutes of today's session, with the S&P 500 sporting a gain of 0.7%.

Most of the 11 sectors are trading in the green, with financials (+1.9%), consumer discretionary (+1.3%), industrials (+1.4%), and telecom services (+1.5%) being the top performers. Within the industrial group, transports show particular strength, sending the Dow Jones Transportation Average higher by 2.1%.

On the flip side, the top-weighted technology sector (unch) is among the weakest spaces, with Microsoft (MSFT 83.82, -0.43) showing a loss of 0.5%. Chipmakers are also relatively weak, evidenced by the PHLX Semiconductor Index (unch).

As a reminder, today's lone economic report--October Factory Orders--will be released at 10:00 ET.

Dow: +219.88… | Nasdaq: +48.77… | S&P: +20.70…

NASDAQ Adv/Dec 2176/584. …NYSE Adv/Dec 2148/566.

09:13AM ET

[BRIEFING.COM] S&P futures vs fair value: +16.50. Nasdaq futures vs fair value: +35.90.

U.S. equities are on course to open Monday's session solidly higher as the S&P 500 futures are trading 17 points, or 0.6%, above fair value.

The Senate passed its version of a tax reform bill over the weekend, bringing the GOP one step closer to fulfilling its promise of a tax overhaul. The news has fueled this morning's bullish sentiment--as has news of a correction to ABC's report on Friday, which originally stated that Donald Trump asked Michael Flynn to contact Russians during his campaign for president.

The news agency has since said that Mr. Trump made the request as president-elect, not as a candidate.

U.S. Treasuries are trading lower this morning, although they have been trimming their losses a bit as of late. The yield on the benchmark 10-yr Treasury note is up three basis points at 2.39%, while the 2-yr yield is also up three basis points, hovering at 1.80%. Yields move inversely to prices.

On the data front, today's lone economic report--October Factory Orders--will be released at 10:00 ET.

In U.S. corporate news, Aetna (AET 185.81, +4.53) is up 2.5% after agreeing to be acquired by CVS Health (CVS 73.00, -2.12) for $207 per share in cash and stock. Conversely, CVS shares are trading lower by 2.3%.

Elsewhere, equity indices in the Asia-Pacific region ended Monday mixed, with Japan's Nikkei (-0.5%) showing relative weakness, while European equities are currently trading broadly higher--evidenced by the Euro Stoxx 50 (+1.5%).

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +32.90.

S&P 500 futures are trading 16 points, or 0.6%, above fair value.

Equity indices in the Asia-Pacific region ended the day on a mixed note with Japan and China closing lower, while Hong Kong managed to close in the green. Asian equities suffered early on by the weakness that occurred in the US on Friday. However, US Futures rebounded overnight, with S&P Future moving higher on the back of the passing of the Tax Reform in the Senate, and helped to pull Asia from the early session lows in sympathy.

In economic data:
Japan's November Consumer Confidence Index: 44.9 vs 44.9e
Australia's November ANZ Job Ads: +1.5% vs +1.5% in Oct

---Equity Markets---

Japan's Nikkei shed 0.5% to begin the week. The weakness in tech names in the US spilled over into Japanese trading. Some of the names outpacing the benchmark to the down side were Softbank, Panasonic, and Advantest, which each closed down in the neighborhood of 1-2%
Hong Kong's Hang Seng gained 0.2%. The index opened lower, but buyers stepped in early on and the index traded higher for the bulk of the session. Financials like Ping An Insurance and AIA Group bounced back after Friday's declines, with gains of 2.5% and 0.6% respectively
China's Shanghai Composite settled down 0.2%. Like the Hang Seng, the Mainland benchmark opened lower, and quickly saw buying actively participating, pushing the index into positive territory by the lunch break. However, this was short lived as support was unable to hold, allowing the index to sink back below the flat line by day's end.
India's Sensex managed to hold on to a 0.1% gain today, after making highs mid-way through the day, and slowly drifting lower heading into the close in the last. Infosys was among the best performing stocks, closing 2.8% higher after the co announced the appointment of a new CEO. Tata Motors also helped to provide support with a gain of 1% on Monday.

Major bourses in Europe are trading with a positive bias ahead of the Eurogroup meetings, piggybacking off the bullish sentiment in the U.S. following the passage of the Senate GOP's tax bill. Residual considerations underpinning stock prices include reports discussing good progress on Brexit negotiations, M&A activity, and Bank of France Governor Villeroy making some upbeat comments about the eurozone's economic recovery.

In economic data:
Eurozone October PPI +0.4% month-over-month (expected +0.3%; last +0.5%); October PPI +2.5% year-over-year (expected +2.6%; prior +2.8%)
Eurozone December Sentix Investor Confidence 31.1 (expected 33.6; last 34.0)
UK November Construction PMI 53.1 (expected 51.0; last 50.8)
Spanish Unemployment Change 7,300 (expected 54,300; last 56,800)

---Equity Markets---

UK's FTSE is up 0.5% with the majority of its components logging gains. Sitting atop the long list of winners are Barclays (+2.4%), Ashstead Group (+2.7%), and Associated British Foods (+1.4%). Babcock International (-3.2%) is the biggest laggard on the day.
France's CAC trades higher by 1.2% with all 40 components contributing. The biggest gainers are STMicroelectronics (+3.4%), Airbus Group (+2.9%), Renault (+2.5%), and Societe Generale (+2.1%). Danone (unch) is bringing up the rear along with Sanofi (+0.1%).
Germany's DAX has jumped 1.5% in a broad-based advance as well. The only loser of the DAX bunch is Prosiebensat (-1.4%); otherwise, there has been good support provided by the financial and industrial components. Commerzbank (+3.0%), Thyssenkrupp AG (+2.0%), Deutsche Bank (+2.0%), and BMW (+2.3%) are among the 10 best-performing issues.

08:26AM ET

[BRIEFING.COM] S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +29.10.

S&P 500 futures are trading 16 points, or 0.6%, above fair value.

This morning's bullish sentiment is obviously related to the passing of the Senate's tax reform bill, which calls for reducing the corporate tax rate to 20% from 35%, but a less obvious factor is also at play.

Namely, investors are breathing a sigh of relief after ABC corrected its Friday report that Donald Trump had asked former National Security Advisor Michael Flynn to make contact with Russians during his campaign for president. ABC later said that Mr. Trump made the request as president-elect, not as a candidate.

The stock market moved sharply lower on Friday in reaction to the report, which originally reignited impeachment concerns.

08:00AM ET

[BRIEFING.COM] S&P futures vs fair value: +17.10. Nasdaq futures vs fair value: +32.30.

Equity futures are pointing to a solidly higher start this morning after the Senate passed its version of a tax reform bill over the weekend. Dow futures show particular strength, trading 1.0% above fair value, while S&P 500 futures and Nasdaq futures are higher by 0.6% and 0.5%, respectively.

Elsewhere, equity indices in the Asia-Pacific region ended Monday mixed, with Japan's Nikkei (-0.5%) showing relative weakness, while European equities are currently trading broadly higher--evidenced by the Euro Stoxx 50 (+1.3%).

Following the victory, the Senate will now have to reconcile its version of a tax overhaul with the version that the House passed back on November 16, and both chambers will then have to individually pass the final revised version. The GOP is hoping to send a final bill to the White House by Christmas.

It's also worth noting that ABC corrected its report on Friday that former National Security Advisor Michael Flynn was prepared to testify that then-candidate Donald Trump instructed him to contact Russian officials during the campaign. That report sent equities sharply lower during Friday's session and the correction has helped boost futures this morning.

U.S. Treasuries are lower this morning, pushing yields higher across the curve; the yield on the benchmark 10-yr Treasury note is up four basis points at 2.40%. The 2-yr yield is also up four basis points, hovering at 1.81%.

On the data front, investors will receive just one economic report--October Factory Orders--which will be released at 10:00 ET.

Meanwhile, the U.S. Dollar Index trades higher by 0.4% at 93.15, and West Texas Intermediate crude futures are down 1.1% at $57.74 per barrel.

In U.S. corporate news:

Aetna (AET 187.41, +6.10): +2.6% after agreeing to be acquired by CVS Health (CVS 74.81, -0.19) for $207 per share in cash and stock.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the day on a mixed note. Japan's Nikkei -0.5%, Hong Kong's Hang Seng +0.2%, China's Shanghai Composite -0.2%, India's Sensex +0.1%.
In economic data:
Japan's November Consumer Confidence Index: 44.9 vs 44.9e
Australia's November ANZ Job Ads: +1.5% vs +1.5% in Oct
In news:
Asian equities suffered early on by the weakness that occurred in the US on Friday. However, US Futures rebounded overnight, with S&P Futures moving higher on the back of the passing of the Tax Reform in the Senate, and helped to pull Asia from the early session lows in sympathy.

Major bourses in Europe are trading with a positive bias ahead of the Eurogroup meetings, piggybacking off the bullish sentiment in the U.S. following the passage of the Senate GOP's tax bill. UK's FTSE +0.5%, France's CAC +1.2%, Germany's DAX +1.4%.
In economic data:
Eurozone October PPI +0.4% month-over-month (expected +0.3%; last +0.5%); October PPI +2.5% year-over-year (expected +2.6%; prior +2.8%)
Eurozone December Sentix Investor Confidence 31.1 (expected 33.6; last 34.0)
UK November Construction PMI 53.1 (expected 51.0; last 50.8)
Spanish Unemployment Change 7,300 (expected 54,300; last 56,800)
In news:
Residual considerations underpinning stock prices include reports discussing good progress on Brexit negotiations, M&A activity, and Bank of France Governor Villeroy making some upbeat comments about the eurozone's economic recovery.

05:55AM ET

[BRIEFING.COM] S&P futures vs fair value: +17.00. Nasdaq futures vs fair value: +32.30.
05:55AM ET

[BRIEFING.COM] Nikkei...22707...-111.90...-0.50%

Hang Seng...29138...+64.00...+0.20%

05:55AM ET

[BRIEFING.COM] FTSE...7358.59...+58.10...+0.80%

DAX...13016.65...+155.20...+1.20%

04:30PM ET

[BRIEFING.COM] U.S. equities trimmed weekly gains on Friday, but the prospect of tax reform helped keep losses in check.

The Dow Jones Industrial Average and the S&P 500 slipped 0.2% apiece, while the tech-heavy Nasdaq dropped 0.4%. For the week, the Dow and the S&P 500 added 2.9% and 1.5%, respectively, while the Nasdaq finished with a weekly loss of 0.6%.

Investors were cautious about the state of tax reform coming into Friday's session after the Senate parliamentarian ruled against a fiscal trigger within the Senate's tax reform bill. The trigger would have increased taxes in the future if economic growth failed to make up for lost tax revenue and was incorporated to appease deficit concerns among several GOP Senators.

The ruling forced the Senate to delay its vote, which was originally expected to occur late Thursday or early Friday, as the GOP scrambled to make changes to the bill. In the meantime, the market became preoccupied with a different headline.

In the late morning, former National Security Advisor Michael Flynn pleaded guilty to lying to the FBI about his contacts with a Russian ambassador to the United States and agreed to cooperate with Special Counsel Robert Mueller's team, which is investigating Russia's alleged interference in the 2016 presidential election.

However, the focus was more on an ABC report, which claimed that Mr. Flynn is willing to testify against President Donald Trump. This headline reignited fears about a potential impeachment and sent the major U.S. indices sharply lower. At its worst mark of the day, the S&P 500 held a loss of 1.6%.

Stocks began retracing losses pretty quickly, however, as the focus returned to the Senate's tax reform bill, which Senate Majority Leader Mitch McConnell (R-KY) said has enough support to pass. The official vote is expected to occur sometime Friday evening, but the timing remains fluid.

Five of eleven sectors finished Friday in the red, with industrials (-1.2%) and technology (-0.6%) showing particular weakness. On the flip side, the energy sector (+0.8%) was the top performer, underpinned by an increase in the price of crude oil; WTI crude futures climbed 1.7% to $58.36 per barrel.

In the bond market, U.S. Treasuries ended the week on a higher note, sending yields lower across the curve. The yield on the benchmark 10-yr Treasury note dropped six basis points to 2.36%, while the 2-yr yield finished lower by two basis points at 1.77%.

Elsewhere, equity indices in the Asia-Pacific region finished Friday mixed, with Japan's Nikkei (+0.4%) showing relative strength, while European stocks settled broadly lower, evidenced by the Euro Stoxx 50, which lost 1.2%.

Reviewing Friday's economic data, which was limited to the ISM Manufacturing Index for November and the Construction Spending Report for October:

The ISM Index for November declined to 58.2 from an unrevised reading of 58.7 in October, while the Briefing.com consensus expected a reading of 58.3.
While growth decelerated from the prior month, the key takeaway from the report is that manufacturing activity is still running at a brisk pace. To that end, the indexes for new orders and production both increased month-over-month and the 58.2 reading for the PMI is above the 12-month average of 57.1.
The Construction Spending report for October rose 1.4%, while the Briefing.com consensus expected an increase of 0.5%. The prior month's increase was left unrevised at 0.3%.
The key takeaway from the report is that overall construction spending growth remains modest and an inhibitor of stronger real GDP growth.

On Monday, investors will receive just one economic report--October Factory Orders--which will be released at 10:00 ET.

Nasdaq Composite +27.2% YTD
Dow Jones Industrial Average +22.6% YTD
S&P 500 +18.0% YTD
Russell 2000 +13.3% YTD

Week In Review: Bullish Ahead of Senate Tax Vote

U.S. equities advanced this week, fueled by the prospect of a tax overhaul.

The Dow led the charge, moving higher by 2.9%, followed from a distance by the S&P 500 and the Russell 2000, which added 1.5% and 1.2%, respectively. Meanwhile, the tech-heavy Nasdaq declined 0.6% as technology stocks fell to some profit taking following a big year-to-date run.

Investors kept an eye on Washington throughout the week, awaiting the Senate's vote on its version of a tax reform bill. Things appeared to be progressing nicely as the bill made its way through the Senate Budget Committee on Tuesday and Senator John McCain (R-AZ) voiced his support for the measure on Thursday.

However, the effort hit a bump in the road on Thursday evening when the Senate parliamentarian ruled that a revenue trigger within the bill--which would have raised taxes in the future if economic growth failed to make up for lost tax revenue--is not allowed under Senate rules.

The trigger was a key provision for several GOP Senators who are concerned about the tax overhaul's potential impact on the national debt.

Senate Majority Leader Mitch McConnell (R-KY) suggested on Friday afternoon that a compromise to appease the aforementioned debt concerns had been reached, saying that the GOP has enough votes to pass the bill. However, an official vote has yet to take place.

The Senate's promising progress on tax reform largely fueled this week's rally, but equities also received support from Jerome Powell's Fed Chair confirmation hearing, which took place on Tuesday. Mr. Powell's comments were largely in line with the Fed's current policy rhetoric, but he did sound a little more lax in the area of regulation.

There were a few developments that worked against the bulls this week, perhaps the most notable of which was former National Security Advisor Michael Flynn's plea deal with Special Counsel Robert Mueller's team--which is investigating Russia's alleged interference in the 2016 U.S. presidential election.

Mr. Flynn pleaded guilty to lying to the FBI about his contacts with a Russian ambassador to the United States and agreed to cooperate with Mr. Mueller's investigation. An ABC report indicated that Mr. Flynn is willing to answer questions about President Donald Trump, which reignited fears about a potential impeachment.

Also, North Korea launched a ballistic missile on Tuesday that landed in the Sea of Japan--specifically in Japan's exclusive economic zone.

Nine of eleven sectors finished the week in positive territory. The top-performing groups were telecom services (+6.7%), financials (+5.2%), industrials (+2.9%), and energy (+2.7%), while the weakest sectors were information technology (-2.0%) and real estate (-0.5%).

The energy sector rallied after OPEC and non-OPEC nations, including Russia, agreed on Thursday to extend their production cut agreement by another nine months, as expected. Meanwhile, West Texas Intermediate crude futures finished in the red for just the second time in eight weeks, dropping 1.0% to $58.36 per barrel.

Within the industrial sector, transports showed particular strength, pushing the Dow Jones Transportation Average higher by 5.9%.

Following this week's events, the CME FedWatch Tool still places the chances of a December rate hike at 100.0%.

Dow: -40.76… | Nasdaq: -26.39… | S&P: -5.36…

NASDAQ Adv/Dec 986/917. …NYSE Adv/Dec 1538/1444.

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 & 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 - no indicators
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