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 Post subject: December 5th Tuesday Trade Results - No Trades
PostPosted: Wed Dec 06, 2017 1:01 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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
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Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
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Quote:
No trades today for me...day of rest. I've been feeling tired especially after the aggressive trading on Monday that resulted in a big profitable trading day.

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $0.00 dollars

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=2711

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=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.

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

The Market at 04:20PM ET
Dow: -109.41… | Nasdaq: -13.15… | S&P: -9.87…
NASDAQ Vol: 2.07 bln… Adv: 727… Dec: 1652…
NYSE Vol: 886.5 mln… Adv: 1053… Dec: 1878…

Moving the Market

The top-weighted technology sector bounces back from Monday's slide

Losses from most groups overpower upbeat tech performance

Transports, retailers, telecom services retrace recent gains

Sector Watch
Strong: Technology, Health Care, Consumer Staples
Weak: Financials, Consumer Discretionary, Industrials, Utilities, Telecom Services
04:20PM ET

[BRIEFING.COM] The S&P 500 (-0.4%) slipped for the third session in a row on Tuesday, with 10 of its 11 sectors finishing in the red.

For a while, it appeared that a bounce-back performance from the top-weighted technology sector, which dropped 1.9% on Monday, might be enough to overpower losses from most other groups. However, the sector weakened as the day wore on, finishing with a modest gain of just 0.2%.

At their best marks of the day, the tech sector held a gain of 1.4%, and the tech-heavy Nasdaq Composite--which ended lower by 0.2%--held a gain of 0.9%.

Meanwhile, the Dow Jones Industrial Average and the small-cap Russell 2000 finished lower by 0.5% and 1.0%, respectively.

As for the other ten sectors, losses ranged from 0.2% to 1.8%. The lightly-weighted telecom services group (-1.8%) finished at the bottom of the sector standings, trimming gains from a largely uninterrupted three-week rally; the group advanced 13.2% from November 14 to December 4.

The utilities sector also showed relative weakness, losing 1.2%, with Edison (EIX 70.00, -10.26) being the group's worst-performing component. The energy provider dropped 12.8% after announcing that more than 260,000 customers in Southern California had lost power due to a fast-moving wildfire in the Ventura County area.

Retailers weighed on the consumer discretionary sector (-0.8%), evidenced by the 1.0% decrease in the SPDR S&P Retail ETF (XRT 44.07, -0.45), while transports led the industrial sector lower by 0.9%; the Dow Jones Transportation Average lost 1.4%, reducing its six-session gain to 6.6%.

Also of note, the heavily-weighted financial sector lost 0.6% amid yet another curve-flattening trade in the bond market.

U.S. Treasuries finished Tuesday's session mixed, cutting the 2yr-10yr spread by five basis points. The yield on the benchmark 10-yr Treasury note slipped three basis points to 2.35%, while the 2-yr yield climbed two basis points to 1.83%. Yields move inversely to prices.

Elsewhere, equities slipped in Asia and Europe, with Hong Kong's Hang Seng (-1.0%) and France's CAC (-0.3%) showing relative weakness in their respective regions.

Reviewing Tuesday's economic data, which included the ISM Services Index for November and the Trade Balance for October:

The ISM Services Index for November declined to 57.4 (Briefing.com consensus 59.3) from an unrevised reading of 60.1 in October.
The key takeaway from the report is that business activity in the non-manufacturing sector is still expanding, but at a somewhat slower rate that is still consistent with 3.0%+ real GDP growth.
The October trade balance showed a deficit of $48.7 billion (Briefing.com consensus -$47.4 billion). The September deficit was revised to $44.9 billion from $43.5 billion.
The key takeaway from the report is that trade will be accounted for as a negative input in fourth quarter GDP models considering that the real trade deficit of $65.3 billion is 5.3% higher than the third quarter average real trade deficit of $62.0 billion.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00 ET, the ADP Employment Change Report for November (Briefing.com consensus 190K) at 8:15 ET, and the revised readings for third quarter Productivity (Briefing.com consensus +3.3%) and Unit Labor Costs (Briefing.com consensus +0.2%) at 8:30 ET.

Nasdaq Composite +25.6% YTD
Dow Jones Industrial Average +22.4% YTD
S&P 500 +17.5% YTD
Russell 2000 +11.8% YTD

Dow: -109.41… | Nasdaq: -13.15… | S&P: -9.87…
NASDAQ Adv/Dec 727/1652. …NYSE Adv/Dec 1053/1878.

03:35PM ET
[BRIEFING.COM]

Commodities end the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.8% at 85.0298
Dollar index is currently up 0.34% at 93.29
Jan WTI Crude settled the day $0.20 higher to $57.67/barrel
In other energy, Jan Natural Gas settled down $0.07 at $2.90/MMBtu
On the metals:
Feb Gold lost $12.90 to settle at $1264.80/oz, while Mar silver lost $0.30 to $16.07/oz
Mar copper settled a steep $0.14 lower (or -4.4%) at $2.95/lb
Finally, agriculture:
Mar Corn settled flat at $3.54/bu
Jan Soy settled $0.095 higher at $10.085/bu
Mar wheat settled $0.03 lower at $4.32/bu.

Dow: -106.91… | Nasdaq: -3.27… | S&P: -8.00…
NASDAQ Adv/Dec 1043/1889. …NYSE Adv/Dec 1097/1839.

03:35PM ET

[BRIEFING.COM] Commodities end the day higher :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.37% at 85.75
Dollar index is currently up 0.14% at 93.32
Jan WTI Crude is up 0.35% on the day.
Futures settle $0.2 higher to $57.67/barrel.
In other energy, Jan Natural Gas settled down $0.07 at $2.92/MMBtu
On the metals:
Feb Gold lost $12.9 to settle at $1264.8/oz, while Mar silver lost $0.3 to $16.07/oz
Mar Copper dropped $0.14 to $2.95/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.54/bu.
Jan Soy settled down $0.005 at $10.085/bu.
Mar Wheat settled down $0.01 at $4.32/bu.

03:00PM ET

[BRIEFING.COM] Equities have fallen to their worst marks of the day with just one hour of trading left in today's session. The S&P 500 and the Dow hold losses of 0.3% apiece, while the tech-heavy Nasdaq hovers at its flat line after holding a gain of 0.9% earlier in the session.

Only the information technology sector is trading in positive territory this afternoon, but the group currently hovers a ways off its best mark of the day. At its session high, the sector held a gain of 1.4%, but currently trades higher by just 0.2%. The remaining sectors hold losses between 0.1% (health care) and 1.5% (telecom services).

On the earnings front, Dave & Busters (PLAY 53.04, -1.00) and Restoration Hardware (RH 104.74, +2.35) will report quarterly results after today's closing bell, followed by American Eagle (AEO 16.15, -0.15), Vera Bradley (VRA 8.53, -0.08), Fred's (FRED 5.11, -0.10), and H&R Block (HRB 26.25, 0.00) on Wednesday morning.
Dow: -84.25… | Nasdaq: -7.36… | S&P: -8.06…
NASDAQ Adv/Dec 815/1813. …NYSE Adv/Dec 1071/1840.

02:30PM ET

[BRIEFING.COM] The S&P 500 (-0.1%) is trading a tick below its flat line.

West Texas Intermediate crude futures are up 0.5% at $57.76 per barrel this afternoon, bouncing back from early weakness, as investors continue to digest last week's supply cut extension. Conversely, the S&P 500's energy sector trades a step behind the broader market, showing a loss of 0.3%.

Last Thursday, OPEC and non-OPEC nations decided to extend their supply cut agreement, which aims at reducing oil production by 1.8 million barrels per day, by another nine months--through the end of 2018. The deal was originally set for six months ending June 2017, but had already been extended once (through March 2018) prior to last week's agreement.

The American Petroleum Institute will release its weekly crude inventory report this afternoon at 16:30 ET, while the official government figures will be released tomorrow morning at 10:30 ET.
Dow: -51.44… | Nasdaq: +14.16… | S&P: -3.44…
NASDAQ Adv/Dec 1032/1633. …NYSE Adv/Dec 1204/1704.

01:55PM ET

[BRIEFING.COM] The major averages have not changed much since the last update.

Shares of Snap (SNAP 14.96, +1.38) are up 10.0% today after Barclays upgraded the company to 'Overweight' from 'Equal Weight' this morning and raised its target price to $18 from $11. Meanwhile, social media peer Facebook (FB 173.55, +2.09) is up 1.2%, looking to break a two-session losing streak.

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 93.40. The greenback has jumped 0.5% against the euro (1.1806), 0.3% against the British pound (1.3436), and 0.3% against the Japanese yen (112.72).

Today's advance places the U.S. Dollar Index at a two-week high.
Dow: -20.43… | Nasdaq: +29.14… | S&P: +0.63…
NASDAQ Adv/Dec 1126/1557. …NYSE Adv/Dec 1263/1631.

01:30PM ET

[BRIEFING.COM] The major U.S. indices have seen a modest uptick since our last update, but are still trading mixed at this time.

A look inside the Dow Jones Industrial Average shows that Walt Disney (DIS 107.69, -2.53), Intel (INTC 43.58, -0.91), & Home Depot (HD 182.28, -2.62) are underperforming. Disney shares are under pressure following a CNBC report that that company is closing in on a deal to acquire some assets from 21st Century Fox (FOXA 33.60, +0.51).

Conversely, McDonald's (MCD 173.36, +2.71) is the best-performing Dow component after being upgraded to Buy from Hold by analysts at Jefferies, and given a $200 price target.

At current levels, the DJIA is up 0.15% this week.
Dow: -17.61… | Nasdaq: +32.47… | S&P: +2.04…
NASDAQ Adv/Dec 1151/1519. …NYSE Adv/Dec 1273/1609.

01:00PM ET

[BRIEFING.COM] Technology shares have bounced back following yesterday's sell off, but weakness from most other areas has left the S&P 500 little changed at midday.

Meanwhile, the tech-heavy Nasdaq is doing relatively well, up 0.4%, while the Dow and the Russell 2000 are down 0.2% and 0.3%, respectively. At current levels, the S&P 500 is hovering near the middle of its trading range, the Nasdaq is a step below its session high, and the Dow is a tick above its session low.

The S&P 500's technology sector, which is the largest of the 11 sectors by weight, has been strong throughout today's session after dropping 1.9% in a sector rotation trade on Monday. The group is currently up 0.6%, but held a gain of 1.4% at its best mark of the day.

Mega-cap tech names like Microsoft (MSFT 82.20, +1.12), Facebook (FB 174.01, +2.55), and Alphabet (GOOG 1012.77, +14.09) sport gains of around 1.5% apiece, while Apple (AAPL 170.86, +1.09) trades higher by 0.6%. Chipmakers are broadly higher, evidenced by the 0.6% increase in the PHLX Semiconductor Index.

Similarly, the heavily-weighted health care sector is also trading higher following a rough Monday session, however, its gain is a more modest 0.2%.

On the flip side, the lightly-weighted utilities and telecom services sectors are the weakest groups today, losing around 1.1% apiece. Within the utilities group, Edison (EIX 71.74, -8.54) is down 10.7% after the energy provider announced that around 263,000 of its customers in Southern California are without power due to the Thomas Fire.

The wildfire has moved rapidly since being reported on Monday evening, spreading from around 50 acres at that time to an estimated 45,000 acres by Tuesday morning.

In total, nine of eleven sectors are lower this afternoon, but most hold losses of no more than 0.4%. The industrial sector (-0.4%) shows relative weakness as transports give back a portion of recent gains; the Dow Jones Transportation Average is down 0.7%, but still remains 7.3% above where it settled on November 27.

U.S. Treasuries are mixed in another curve-flattening trade, which has cut the 2yr-10yr spread by two basis points. The yield on the benchmark 10-yr Treasury note is down one basis point at 2.37%, while the 2-yr yield is higher by one basis point at 1.82%.

Elsewhere, equity indices in Europe and the Asia-Pacific region finished Tuesday broadly lower. Hong Kong's Hang Seng (-1.0%) and France's CAC (-0.3%) were the weakest performers in their respective regions.

Reviewing Tuesday's economic data, which included the ISM Services Index for November and the Trade Balance for October:

The ISM Services Index for November declined to 57.4 (Briefing.com consensus 59.3) from an unrevised reading of 60.1 in October.
The key takeaway from the report is that business activity in the non-manufacturing sector is still expanding, but at a somewhat slower rate that is still consistent with 3.0%+ real GDP growth.
The October trade balance showed a deficit of $48.7 billion (Briefing.com consensus -$47.4 billion). The September deficit was revised to $44.9 billion from $43.5 billion.
The key takeaway from the report is that trade will be accounted for as a negative input in fourth quarter GDP models considering that the real trade deficit of $65.3 billion is 5.3% higher than the third quarter average real trade deficit of $62.0 billion.

Dow: -38.75… | Nasdaq: +27.89… | S&P: +0.29…
NASDAQ Adv/Dec 1063/1640. …NYSE Adv/Dec 1192/1678.

12:25PM ET

[BRIEFING.COM] Equity indices are mixed; the S&P 500 is flat, the Nasdaq is up 0.4%, and the Dow is lower by 0.2%.

Three sectors are trading higher this afternoon--technology (+0.8%), health care (+0.2%), and financials (unch)--while eight are trading lower--energy (-0.2%), real estate (-0.2%), consumer staples (-0.2%), materials (-0.3%), consumer discretionary (-0.4%), industrials (-0.5%), telecom services (-0.9%), and utilities (-1.2%).

In the bond market, U.S. Treasuries are mixed in another curve-flattening trade, which has cut the 2yr-10yr spread by three basis points. The yield on the benchmark 10-yr Treasury note is down one basis point at 2.37%, while the 2-yr yield is higher by two basis points at 1.83%.

Elsewhere, the major European bourses finished Tuesday on a lower note, with France's CAC (-0.3%) showing relative weakness.
Dow: -48.58… | Nasdaq: +28.51… | S&P: +0.74…
NASDAQ Adv/Dec 1106/1592. …NYSE Adv/Dec 1187/1644.

12:00PM ET

[BRIEFING.COM] Equity indices have trimmed their gains in recent action, with the Dow returning to its unchanged mark.

The lightly-weighted utilities sector is trading at the bottom of today's sector standings with a loss of 1.2%.

Within the group, energy provider Edison (EIX 71.38, -8.91) has dropped 11.1% after announcing that around 263,000 of its customers in Southern California are without power due to the Thomas Fire--a fast-moving wildfire that spread from around 50 acres to an estimated 45,000 acres in a matter of hours.

The fire was first reported yesterday evening at around 9:30 pm ET.

Meanwhile, the telecom services sectors is also struggling today, losing 0.9%, following a largely uninterrupted three-week rally. The lightly-weighted sector, which comprises just around 2.0% of the broader market, has climbed more than 12.0% since November 14.
Dow: -4.99… | Nasdaq: +40.94… | S&P: +5.13…
NASDAQ Adv/Dec 1181/1549. …NYSE Adv/Dec 1233/1592.

11:30AM ET

[BRIEFING.COM] The major U.S. indices have climbed to new session highs in recent action, with the S&P 500 now showing a gain of 0.3%. A recent wave of buying in financial shares has helped fuel the recent move higher.

Within the financial sector (+0.3%), Wells Fargo (WFC 58.97, +1.58) is up 2.8% and trading a ways ahead of peers like JPMorgan Chase (JPM 107.09, +0.14) and Bank of America (BAC 29.19, +0.14), which are up 0.2% and 0.4%, respectively. Meanwhile, Citigroup (C 76.96, -0.14) and Goldman Sachs (GS 249.77, -0.88) are down 0.2% and 0.4%, respectively.

Wells Fargo provided upbeat commentary guidance in an investor slide show presentation this morning, announcing that it expects to reduce expenses by $2 billion annually by the end of 2018 and that its fourth quarter earnings will likely benefit from improvement in its business lending segment.

The health care sector (+0.3%) has also been ticking higher as of late, moving back towards its session high. The group opened the session with a gain of around 0.5%, but slipped to its flat line shortly thereafter. Within the group, biotech shares show relative strength, sending the iShares Nasdaq Biotechnology ETF (IBB 104.45, +0.42) higher by 0.4%.
Dow: +18.00… | Nasdaq: +54.24… | S&P: +7.59…
NASDAQ Adv/Dec 1255/1462. …NYSE Adv/Dec 1292/1533.

10:55AM ET

[BRIEFING.COM] Most sectors are trading in the red this morning, but strength in the top-weighted technology sector has kept the major indices afloat; the Nasdaq and the S&P 500 are up 0.5% and 0.1%, respectively, while the Dow Jones Industrial Average is down 0.1%.

The tech group is up 1.0%, bouncing back from yesterday's 1.9% tumble, with mega caps like Microsoft (MSFT 82.12, +1.03), Facebook (FB 174.65, +3.19), and Alphabet (GOOG 1014.45, +15.77) sporting gains between 1.3% and 1.9%. Chipmakers also outperform, sending the PHLX Semiconductor Index higher by 1.2%.

On the flip side, the lightly-weighted telecom services sector (-1.2%) is the weakest group, while most of the other decliners hold losses of no more than 0.3%.

In Washington, the Senate Banking Committee approved the nomination of Jerome Powell for Fed Chair this morning. The nomination is now set for a full vote in the Senate, where it is expected to be widely confirmed.
Dow: -11.60… | Nasdaq: +34.72… | S&P: +2.74…
NASDAQ Adv/Dec 1114/1609. …NYSE Adv/Dec 1118/1651.

10:30AM ET

[BRIEFING.COM] Commodities begin the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.6% at 85.2297
Dollar index is currently up 0.2% at 93.26
Jan WTI crude oil moved back into positive territory this morning and are now $0.06 higher at $57.53/barrel
In other energy, Jan natural gas is down $0.07 at $2.92/MMBtu
After the close today, the weekly America Petroleum Institute (API) will release its weekly crude oil storage data, possibly providing a notable overnight catalyst to the price of oil
Metals:
Feb gold is down $9.80 and trades at $1267.90/oz, while March silver is down $0.27 to $16.11/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 $0.14 at $10.12/bu
March wheat is down $0.02 at $4.33/bu.

Dow: -7.33… | Nasdaq: +33.40… | S&P: +2.61…
NASDAQ Adv/Dec 1231/1421. …NYSE Adv/Dec 1139/1621.

10:00AM ET

[BRIEFING.COM] The S&P 500 continues to trade flat, while the tech-heavy Nasdaq (+0.6%) shows relative strength.

Just in, the ISM Services Index for November declined to 57.4 (Briefing.com consensus 59.3) from an unrevised reading of 60.1 in October.
Dow: -33.62… | Nasdaq: +34.06… | S&P: -1.49…
NASDAQ Adv/Dec 1289/1423. …NYSE Adv/Dec 1062/1611.

09:45AM ET

[BRIEFING.COM] The major U.S. indices are little changed in the opening minutes of today's session, with the tech-heavy Nasdaq (+0.4%) showing relative strength.

Most sectors are trading within 0.3% of their unchanged marks. The consumer discretionary sector is an exception, losing 0.7%, with select retailers giving back a portion of their recent gains. Gap (GPS 33.14, -0.95), Kohl's (KSS 48.36, -1.23), Macy's (M 25.14, -0.68), and Foot Locker (FL 44.39, -1.37) show losses between 2.9% and 3.5%.

Meanwhile, the top-weighted technology sector (+0.5%) has gotten off to a good start, bouncing back from yesterday's 1.9% decline. Chipmakers show particular strength, sending the PHLX Semiconductor Index higher by 1.1%.
Dow: +8.47… | Nasdaq: +30.50… | S&P: -0.69…
NASDAQ Adv/Dec 1393/1255. …NYSE Adv/Dec 1102/1499.

09:11AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +4.60.

The stock market is on track for a slightly higher open this morning as the S&P 500 futures trade four points, or 0.1%, above fair value.

In U.S. earnings news, AutoZone (AZO 751.99, +42.22) is up 6.0% after reporting better-than-expected earnings and revenues for its fiscal first quarter. Conversely, luxury homebuilder Toll Brothers (TOL 47.50, -3.16) is down 6.2% after missing quarterly estimates for earnings and revenues.

Meanwhile, U.S. Treasuries are trading flat this morning, keeping the benchmark 10-yr yield at its unchanged mark (2.38%).

West Texas Intermediate crude futures are slightly lower, down 0.3% at $57.29 per barrel, while the U.S. Dollar Index is up 0.2% at 93.24. The greenback had a largely muted reaction to this morning's release of the October trade balance, which showed a larger-than-expected deficit of $48.7 billion (Briefing.com consensus -$47.4 billion).

Today's last economic report--the ISM Services Index for November (Briefing.com consensus 59.3)--will cross the wires at 10:00 ET.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +2.60.

The S&P 500 futures trade three points, or 0.1%, above fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a lower note. Steelmakers in Japan bucked the trend, climbing amid reports Nippon Steel reduced accepted orders for steel pipes by as much as 30% due to inability to keep pace with demand from large-scale projects ahead of Tokyo Olympics in 2020. Bank of Japan Governor Haruhiko Kuroda said he has not had any discussions with Prime Minister Shinzo Abe about serving another term. Mr. Kuroda's current term expires in April 2018. Reports in Chinese press noted that enterprise costs should be lowered since tax cuts in the United States could put some pressure on China's domestic manufacturing sector. The Reserve Bank of Australia left its official cash rate unchanged at 1.50%, as expected.

In economic data:
China's November Caixin Services PMI 51.9 (expected 51.5; last 51.2)
Hong Kong's November Manufacturing PMI 50.7 (last 50.3)
Japan's BoJ Core CPI +0.5% year-over-year, as expected (last 0.5%)
India's November Nikkei Services PMI 48.5 (last 51.7)
Australia's October Retail Sales +0.5% month-over-month (expected 0.3%; last 0.1%). Q3 Current Account -AUD9.10 billion (expected deficit of AUD9.20 billion; last deficit of AUD9.70 billion). November AIG Services Index 51.7 (last 51.4)

---Equity Markets---

Japan's Nikkei lost 0.4%. Nitto Denko, SUMCO, Tokyo Electron, Trend Micro, Alps Electric, Okuma, Fanuc, Familymart, Dainippon Screen Manufacturing, Furukawa Electric, and Nikon posted losses between 1.2% and 4.3%.
Hong Kong's Hang Seng surrendered 1.0%. Sunny Optical Tech was the weakest performer, falling 5.7%, while gaming names like Tencent Holdings, Galaxy Entertainment, and Sands China posted losses between 0.9% and 3.6%. Property names like Sino Land, SHK Properties, Henderson Land, and New World Development lost between 0.6% and 2.9%.
China's Shanghai Composite shed 0.2%. Sichuan Langsha Holding, Shanghai Material Trading, TDG Holding, Wingtech Technology, and China United Travel lost between 7.6% and 9.7%.
India's Sensex slipped 0.2% amid broad weakness. Hero MotoCorp and Wipro lost near 2.3% apiece while Tata Steel, Dr. Reddy's Labs, Bajaj Auto, Larsen & Toubro, and Mahindra&Mahindra posted losses between 0.8% and 1.7%.

Major European indices trade on a mostly lower note while the UK's FTSE (+0.1%) outperforms modestly. Brexit negotiations remain fluid with the latest reports suggesting Ireland will give Prime Minister Theresa May time and space to manage political issues associated with the post-Brexit future of the border with Northern Ireland. A summit of EU leaders will take place on December 14. Italy's stats agency noted that growth is strengthening in the short term.

In economic data:
Eurozone October Retail Sales -1.1% month-over-month (expected -0.7%; last 0.8%); +0.4% year-over-year (consensus 1.5%; last 4.0%). November Services PMI 56.2, as expected (last 56.2)
Germany's November Services PMI 54.3 (expected 54.9; last 54.9)
UK's November Services PMI 53.8 (expected 55.0; last 55.6)
France's November Services PMI 60.4 (expected 60.2; last 60.2)
Italy's November Services PMI 54.7 (expected 53.2; last 52.1)
Spain's November Services PMI 54.4 (consensus 55.1; last 54.6) and October Industrial Production +4.1% year-over-year (consensus 3.7%; last 3.4%)

---Equity Markets---

UK's FTSE is higher by 0.1% with consumer names showing relative strength. Tesco, Morrison Supermarkets, Sainsbury, British American Tobacco, ITV, Next, Persimmon, and Unilever show gains between 0.5% and 4.6%. On the downside, Provident Financial has plunged 11.8% after the Financial Conduct Authority informed the company of an investigation into Moneybarn.
Germany's DAX trades down 0.2% amid losses in most components. Volkswagen is among the weakest performers, falling 1.1%, while Lufthansa, Siemens, BASF, Merck, SAP, Bayer, and Commerzbank show losses between 0.3% and 1.2%. On the upside, Vonovia is higher by 2.0%.
France's CAC is lower by 0.4%. Growth-sensitive names like ArcelorMittal, TechnipFMC, Cap Gemini, STMicroelectronics, and Accor show losses between 0.5% and 2.2%. Select financials also lag with Credit Agricole, AXA, and BNP Paribas down between 0.6% and 0.9%.

08:31AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +17.90.

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

Just in, the October trade balance showed a deficit of $48.7 billion (Briefing.com consensus -$47.4 billion). The September deficit was revised to $44.9 billion from $43.5 billion.

07:57AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +0.40.

Equity futures are pointing toward a mostly higher open for the U.S. stock market, but the tech-heavy Nasdaq futures (unch) lag as technology shares appear ready to extend yesterday's losses. The S&P 500 futures are trading four points, or 0.1%, above fair value, while the Dow futures (+0.3%) show relative strength.

Elsewhere, indices in the Asia-Pacific region ended Tuesday on a lower note, with Hong Kong's Hang Seng (-1.0%) being the weakest performer, while the major European bourses currently trade mixed. The UK's FTSE (+0.1%) shows relative strength as the end of the first phase of Brexit negotiations draws near.

U.S. Treasuries are holding steady this morning following yesterday's curve-flattening sell off; the benchmark 10-yr yield is unchanged at 2.38%.

Meanwhile, WTI crude futures are down 0.6% at $57.12 per barrel, which marks a two-week low, as investors continue to digest last week's supply cut extension. OPEC and non-OPEC nations agreed last week to extend their production cut deal, which was already in place, by another nine months--through the end of 2018.

As for economic data, investors will receive just two reports today--the October Trade Balance (Briefing.com consensus -$47.4 billion) and the ISM Services Index for November (Briefing.com consensus 59.3)--which will be released at 8:30 ET and 10:00 ET, respectively.

In U.S. corporate news:

AutoZone (AZO 755.00, +45.23): +6.4% after reporting better-than-expected earnings and revenues.
Toll Brothers (TOL 47.14, -3.52): -7.0% after missing both top and bottom line estimates.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a lower note. Japan's Nikkei -0.4%, Hong Kong's Hang Seng -1.0%, China's Shanghai Composite -0.2%, India's Sensex -0.2%.
In economic data:
China's November Caixin Services PMI 51.9 (expected 51.5; last 51.2)
Hong Kong's November Manufacturing PMI 50.7 (last 50.3)
Japan's BoJ Core CPI +0.5% year-over-year, as expected (last 0.5%)
India's November Nikkei Services PMI 48.5 (last 51.7)
Australia's October Retail Sales +0.5% month-over-month (expected 0.3%; last 0.1%). Q3 Current Account -AUD9.10 billion (expected deficit of AUD9.20 billion; last deficit of AUD9.70 billion). November AIG Services Index 51.7 (last 51.4)
In news:
Steelmakers in Japan bucked the trend, climbing amid reports Nippon Steel reduced accepted orders for steel pipes by as much as 30% due to inability to keep pace with demand from large-scale projects ahead of Tokyo Olympics in 2020.
Bank of Japan Governor Haruhiko Kuroda said he has not had any discussions with Prime Minister Shinzo Abe about serving another term. Mr. Kuroda's current term expires in April 2018.
Reports in Chinese press noted that enterprise costs should be lowered since tax cuts in the United States could put some pressure on China's domestic manufacturing sector.
The Reserve Bank of Australia left its official cash rate unchanged at 1.50%, as expected.

Major European indices trade on a mostly lower note while the UK's FTSE (+0.1%) outperforms modestly. Germany's DAX -0.4%, France's CAC -0.4%.
In economic data:
Eurozone October Retail Sales -1.1% month-over-month (expected -0.7%; last 0.8%); +0.4% year-over-year (consensus 1.5%; last 4.0%). November Services PMI 56.2, as expected (last 56.2)
Germany's November Services PMI 54.3 (expected 54.9; last 54.9)
UK's November Services PMI 53.8 (expected 55.0; last 55.6)
France's November Services PMI 60.4 (expected 60.2; last 60.2)
Italy's November Services PMI 54.7 (expected 53.2; last 52.1)
Spain's November Services PMI 54.4 (consensus 55.1; last 54.6) and October Industrial Production +4.1% year-over-year (consensus 3.7%; last 3.4%)
In news:
Brexit negotiations remain fluid with the latest reports suggesting Ireland will give Prime Minister Theresa May time and space to manage political issues associated with the post-Brexit future of the border with Northern Ireland.
Italy's stats agency noted that growth is strengthening in the short term.

06:14AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.40. Nasdaq futures vs fair value: -29.00.

06:14AM ET
[BRIEFING.COM] Nikkei...22622...-84.80...-0.40%. Hang Seng...28843...-295.50...-1.00%.

06:14AM ET
[BRIEFING.COM] FTSE...7338.37...-0.60...0.00%. DAX...12976.65...-81.90...-0.60%.

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.

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

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

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

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis. The risk of loss can be substantial. Therefore, you must carefully consider if trading is suitable for you within the context of your financial condition. TheStrategyLab.com is an education and research site. The resources on this site are provided for informational purposes only and should not be used to replace professional educational and professional research because we are retail traders only. TheStrategyLab.com does not accept liability for your use of the website and its resources.

We make no guarantees of success and your level of success is dependent upon other factors including your skill as a trader, knowledge, financial condition, market conditions and other factors. Trading is stressful and you should always consult a doctor in all matters relating to physical and mental health of you & your family because trading can impact beyond your financial condition regardless if you're a profitable or losing trader. Also, you can read our full disclaimer statement @ http://www.thestrategylab.com/Disclaimer.htm


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