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 Post subject: December 7th Thursday Trade Results - Profits $875.00
PostPosted: Fri Dec 08, 2017 12:37 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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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
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)
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Twitter @ http://twitter.com/wrbtrader (24/7)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $875.00 dollars or +17.50 points, Light Crude Oil CL ($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 @ $875.00 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=2713

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 04:25PM ET
Dow: +70.57… | Nasdaq: +36.47… | S&P: +7.71…
NASDAQ Vol: 1.95 bln… Adv: 1440… Dec: 1005…
NYSE Vol: 823.7 mln… Adv: 1824… Dec: 1075…

Moving the Market

Caution as lawmakers negotiate government spending bill; tax reform still in focus

Freedom Caucus Chairman Mark Meadows (R-NC) says Freedom Caucus will provide enough votes to pass two-week government funding bill

Sector Watch
Strong: Industrials, Technology, Materials
Weak: Health Care, Consumer Staples, Telecom Services

04:25PM ET

[BRIEFING.COM] U.S. equities recouped some of the losses registered earlier in the week on Thursday, with industrial shares pacing the advance.

The S&P 500 added 0.3%, as did the Dow Jones Industrial Average, while the tech-heavy Nasdaq Composite outperformed, climbing 0.5%. Small caps showed relative strength, pushing the Russell 2000 higher by 0.8%. The S&P 500 will enter Friday's session with a week-to-date loss of 0.2%.

A Friday night deadline to secure government funding kept investors on their toes on Thursday. Lawmakers are expected to agree to a short-term extension that would fund the government for another two weeks, perhaps giving the GOP just enough time to pass its tax reform bill before having to take up the issue again.

President Trump met with congressional leaders on Thursday afternoon to discuss the issue, but no agreement was announced.

Separately, Bloomberg reported that the White House plans to release its long-promised infrastructure plan in early January. The report helped support the S&P 500's industrial sector (+0.9%), which was already strong amid another transport rally; the Dow Jones Transportation Average finished higher by 1.3%.

The top-weighted technology sector (+0.7%) also outperformed on Thursday, with Facebook (FB 180.14, +4.08) and Alphabet (GOOG 1030.93, +12.55) jumping 2.3% and 1.2%, respectively. Chipmaker Broadcom (AVGO 263.89, 0.00) started off strong after reporting upbeat quarterly earnings, but finished at its unchanged mark.

In total, nine of eleven sectors settled in the green, with the consumer staples sector (-0.9%) being the only group to finish with a sizable loss. Within the sector, Dow components Procter & Gamble (PG 90.10, -1.15) and Coca-Cola (KO 45.78, -0.67) dropped around 1.3% apiece.

U.S. Treasuries were flat through much of the session but eventually finished below their unchanged marks, with longer-dated issues showing particular weakness. The yield on the benchmark 10-yr Treasury note jumped five basis points to 2.38%, while the 2-yr yield climbed just one basis point to 1.81%.

Elsewhere, equities indices in the Asia-Pacific region settled Thursday mixed--with Japan's Nikkei (+1.5%) showing relative strength and China's Shanghai Composite (-0.7%) showing relative weakness--while the Euro Stoxx 50 jumped 0.4%.

Reviewing Thursday's economic data, which was limited to weekly Initial Jobless Claims and October Consumer Credit:

The latest weekly initial jobless claims count totaled 236,000, while the Briefing.com consensus expected a reading of 240,000. Today's tally was below the unrevised prior week count of 238,000. As for continuing claims, they declined to 1.908 million from a revised count of 1.960 million (from 1.957 million).
The initial claims report has been glossed over by market participants who have their labor market sights set on the November Employment Situation report, which will be released before the open on Friday.
The October Consumer Credit Report showed an increase of $20.5 billion (Briefing.com consensus +$17.0 billion). The September credit growth was revised to $19.2 billion from $20.8 billion.

The Employment Situation Report for November (Briefing.com consensus +190,000) will be released at 8:30 ET on Friday, followed by the 10:00 ET release of October Wholesale Inventories (Briefing.com consensus -0.4%) and the preliminary reading of the University of Michigan Consumer Sentiment Index for December (Briefing.com consensus 98.8).

Nasdaq Composite +26.6% YTD
Dow Jones Industrial Average +22.5% YTD
S&P 500 +17.8% YTD
Russell 2000 +12.0% YTD

Dow: +70.57… | Nasdaq: +36.47… | S&P: +7.71…

NASDAQ Adv/Dec 1440/1005. …NYSE Adv/Dec 1824/1075.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 1.55% at 84.11
Dollar index is currently up 0.17% at 93.77
Jan WTI Crude is up 1.23% on the day.
Futures settle $0.69 higher to $56.65/barrel.
In other energy:
Jan Natural Gas settled down $0.16 at $2.76/MMBtu
On the metals:
Feb Gold lost $12.80 to settle at $1253.30/oz, while Mar silver lost $0.16 to $15.8/oz
Mar copper settled flat at $2.96/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.52/bu.
Jan soy settled flat at $9.92/bu.
Mar wheat settled flat at $4.22/bu.

Dow: +73.81… | Nasdaq: +38.69… | S&P: +8.23…

NASDAQ Adv/Dec 1561/1040. …NYSE Adv/Dec 1802/1106.

03:00PM ET

[BRIEFING.COM] The major U.S. indices are modestly higher going into the final hour of trading. The Nasdaq is up 0.5%, while the Dow and the S&P 500 sport gains of 0.3% apiece.

Just in, the Consumer Credit report for October showed an increase of $20.5 billion (Briefing.com consensus +$17.0 billion). The September credit growth was revised to $19.2 billion from $20.8 billion.

Dow: +60.59… | Nasdaq: +32.25… | S&P: +6.50…

NASDAQ Adv/Dec 1589/1048. …NYSE Adv/Dec 1773/1122.

02:35PM ET

[BRIEFING.COM] The major averages have trimmed their gains slightly. The S&P 500 is now up 0.2%.

Investors will receive the Employment Situation Report for November tomorrow, which the Briefing.com consensus estimate expects will show the addition of 190,000 nonfarm payrolls, a 0.3% increase in average hourly earnings, and an unemployment rate of 4.1%.

Particular emphasis will be placed on the average hourly earnings figure as wages are positively correlated with inflation. A higher-than-expected reading could prompt rate-hike concerns among investors, who have enjoyed the benefits of steady growth amid low inflation for some time.

On the earnings front, American Outdoor Brands (AOBC 14.97, +0.73), Cloudera (CLDR 15.94, +0.21), Finisar (FNSR 17.98, +0.50), and DavidsTea (DTEA 4.05, 0.00) will all report their quarterly results following today's closing bell.

Dow: +63.51… | Nasdaq: +26.95… | S&P: +6.22…

NASDAQ Adv/Dec 1571/1077. …NYSE Adv/Dec 1768/1114.

01:55PM ET

[BRIEFING.COM] The major averages are hovering a tick below their session highs; the S&P 500 is up 0.3%.

Nine sectors are trading in the green this afternoon--industrials (+1.1%), technology (+0.7%), materials (+0.6%), financials (+0.5%), real estate (+0.4%), telecom services (+0.3%), energy (+0.3%), consumer discretionary (+0.2%), and health care (+0.1%)--while two trade in the red--utilities (-0.1%) and consumer staples (-0.7%).

In the bond market, U.S. Treasuries have been slipping from their flat lines as of late, pushing yields into the green. The yield on the benchmark 10-yr Treasury note is up two basis points at 2.35%, while the 2-yr yield is up one basis point at 1.81%.

Dow: +89.65… | Nasdaq: +34.11… | S&P: +8.74…

NASDAQ Adv/Dec 1642/1069. …NYSE Adv/Dec 1777/1067.

01:30PM ET

[BRIEFING.COM] The major U.S. indices have seen some modest selling pressure since our last update, but still sport small gains in afternoon trading.

A look inside the Dow Jones Industrial Average shows that Boeing (BA 283.57, +5.30), Nike (NKE 60.61, +0.89), & Caterpillar (CAT 142.29, +1.95) are outperforming amid broad market strength.

Conversely, Procter & Gamble (PG 90.09, -1.16) is the worst-performing Dow component as consumer staples lag in today's trade.

On the heels of today's rally, the DJIA has climbed back into positive territory for the week.

Dow: +85.52… | Nasdaq: +39.23… | S&P: +8.45…

NASDAQ Adv/Dec 1698/1009. …NYSE Adv/Dec 1749/1088.

01:05PM ET

[BRIEFING.COM] Stocks have moved modestly higher today, putting the S&P 500 on track for its first win of the week.

The benchmark index and the Dow Jones Industrial Average are both up 0.4%, hovering near their best marks of the day, while the tech-heavy Nasdaq outperforms, sporting a gain of 0.6%. Small caps have trimmed weekly losses, pushing the Russell 2000 higher by 0.9%.

Equities opened Thursday's session relatively flat, but started ticking higher after Representative Mark Meadows (R-NC), who is the Chairman of the House Freedom Caucus, said that the Freedom Caucus will provide enough votes to pass a two-week government funding bill.

The House is expected to vote on a short-term funding measure sometime today in order to avoid a government shutdown when the current spending measure expires at the end of Friday. Meanwhile, President Trump is scheduled to meet with congressional leadership today in an effort to negotiate a more permanent budget deal.

Most sectors are trading in positive territory, with cyclical groups pacing the advance. The industrial sector is today's top-performing group, up 1.0%, as transports outperform and General Electric (GE 17.81, +0.15) bounces back from a six-year low; the Dow Jones Transportation Average is up 1.0%, while GE shares are higher by 0.9%.

The top-weighted technology sector also trades comfortably ahead of the broader market, adding 0.8%, with chipmakers showing particular strength, evidenced by a 1.3% increase in the PHLX Semiconductor Index. Broadcom (AVGO 267.43, +3.59) is up 1.4% after beating earnings estimates and issuing upbeat sales guidance.

On the downside, the consumer staples and utilities sectors hold respective losses of 0.7% and 0.2%.

In the bond market, U.S. Treasuries have kept near their flat lines throughout today's session. The yield on the benchmark 10-yr Treasury note is unchanged at 2.33% while the 2-yr yield also trades flat, hovering at 1.80%.

Elsewhere, equities indices in the Asia-Pacific region settled mixed, with Japan's Nikkei (+1.5%) showing relative strength and China's Shanghai Composite (-0.7%) showing relative weakness. The major European bourses finished mostly higher, but the UK's FTSE (-0.4%) underperformed.

Reviewing Thursday's economic data, which has been limited to weekly Initial Jobless Claims thus far:

The latest weekly initial jobless claims count totaled 236,000, while the Briefing.com consensus expected a reading of 240,000. Today's tally was below the unrevised prior week count of 238,000. As for continuing claims, they declined to 1.908 million from a revised count of 1.960 million (from 1.957 million).
The initial claims report has been glossed over by market participants who have their labor market sights set on the November Employment Situation report, which will be released before the open on Friday.

Today's last economic report--October Consumer Credit (Briefing.com consensus $17.0 billion)--will be released at 15:00 ET.

Dow: +111.92… | Nasdaq: +47.37… | S&P: +10.49…

NASDAQ Adv/Dec 1799/932. …NYSE Adv/Dec 1742/1090.

12:25PM ET

[BRIEFING.COM] The major averages haven't shifted much since the last update. The Nasdaq continues to outpace its peers, sporting a gain of 0.7%.

Transports have been rallying today, sending the Dow Jones Transportation Average higher by 1.1%. Within the DJTA, 18 of 20 components are trading in the green, with Avis Budget (CAR 41.01, +1.50) leading the charge; CAR shares are up 3.6%. Airlines also show relative strength, evidenced by a 1.4% increase in the U.S. Global Jets ETF (JETS 31.89, +0.44).

Elsewhere, the major European bourses settled Thursday mixed, with Germany's DAX (+0.4%) showing relative strength and the UK's FTSE (-0.4%) showing relative weakness.

Dow: +97.71… | Nasdaq: +44.20… | S&P: +9.28…

NASDAQ Adv/Dec 1873/861. …NYSE Adv/Dec 1774/1020.

11:55AM ET

[BRIEFING.COM] Equities have extended their gains in recent action, hitting new session highs. The S&P 500 is now up 0.4%.

Nine of eleven sectors are trading in positive territory late this morning, with consumer staples (-0.6%) and utilities (-0.6%) being the two laggards. The utilities space has struggled all week, evidenced by its week-to-date loss of 2.0%, while the consumer staples space still remains among the top-performing sectors despite today's slide.

Within the consumer staples group, Walgreens Boot Alliance (WBA 70.00, -1.06) shows particular weakness, losing 1.5%, while heavyweights like Procter & Gamble (PG 90.23, -1.01), Coca-Cola (KO 45.99, -0.45), and Philip Morris (PM 106.88, -0.72) show losses between 0.7% and 1.2%.

Dow: +81.84… | Nasdaq: +49.00… | S&P: +9.35…

NASDAQ Adv/Dec 1967/796. …NYSE Adv/Dec 1798/982.

11:30AM ET

[BRIEFING.COM] The major U.S. indices are hovering near their recent levels, with the S&P 500 sporting a gain of 0.2%.

Technology shares have continued to chip away at Monday's 1.9% decline today, putting the S&P 500's technology sector (+0.6%) on track for its third consecutive win. Within the group, mega caps like Facebook (FB 178.57, +2.51) and Alphabet (GOOG 1003.72, +15.34) are up around 1.5% apiece. Chipmakers are also outperforming, evidenced by the PHLX Semiconductor Index, which is higher by 1.2%.

Meanwhile, U.S. Treasuries continue to trade near their flat lines, leaving the benchmark 10-yr yield unchanged at 2.33%, and the U.S. Dollar Index is up 0.1% at 93.60. The greenback has added 0.3% against the Japanese yen (122.65), but has lost 0.2% against the British pound (1.3420).

Dow: +40.72… | Nasdaq: +39.59… | S&P: +5.70…

NASDAQ Adv/Dec 1915/861. …NYSE Adv/Dec 1747/1025.

11:00AM ET

[BRIEFING.COM] Stocks are trading at their best marks of the day. The Nasdaq is up 0.6%, while the S&P 500 and the Dow hold respective gains of 0.3% and 0.2%.

In Washington, Freedom Caucus Chairman Mark Meadows (R-NC) said earlier this morning that the Freedom Caucus will provide "enough votes" to pass a two-week government funding bill. The current funding bill is set to expire on Friday before midnight and President Trump is scheduled to discuss an extension with lawmakers today at 11:30 ET.

The news has helped equities tick to new session highs, with industrial shares pacing the advance; the S&P 500's industrial sector is up 0.8%. General Electric (GE 18.03, +0.38) is among the group's top-performing components, sporting a gain of 2.2%, after closing at a six-year low yesterday.

Dow: +42.57… | Nasdaq: +43.65… | S&P: +6.80…

NASDAQ Adv/Dec 1937/790. …NYSE Adv/Dec 1753/1013.

10:30AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 84.11
Dollar index is currently up 0.07% at 93.68
Jan WTI crude is up 0.98% on the day.
Futures are $0.55 higher to $56.51/barrel.
In other energy:
EIA Natural gas inventory data showed a build of 2 bcf vs a build of 34 bcf in the prior week
Jan natural gas is down $0.13 at $2.79/MMBtu
Metals:
Feb gold lost $10.10 and trades at $1256.00/oz, while Mar silver lost $0.15 to $15.81/oz
Mar copper gained 0.01 to $2.97/lb
Finally, agriculture:
Mar corn is down $0.02 at $3.51/bu.
Jan soy is down $0.09 at $9.94/bu.
Mar wheat is down $0.03 at $4.22/bu.

Dow: +57.15… | Nasdaq: +38.08… | S&P: +5.16…

NASDAQ Adv/Dec 1911/848. …NYSE Adv/Dec 1714/1046.

09:55AM ET

[BRIEFING.COM] The major averages are drifting a tick above their unchanged marks.

Energy shares have trimmed weekly losses this morning as the price of crude oil comes up from a two-week low; West Texas Intermediate crude futures are up 0.7% at $56.35 per barrel. Dow components Chevron (CVX 119.85, +0.24) and Exxon Mobil (XOM 82.44, +0.16) are up 0.2% apiece.

The S&P 500's energy sector currently trades higher by 0.4%, cutting its week-to-date loss to 1.5%. The group is no longer trading at the bottom of the week's sector standings, but it still trades a ways behind the broader market as the benchmark S&P 500 holds a week-to-date loss of just 0.4%.

Dow: +39.46… | Nasdaq: +18.12… | S&P: +2.14…

NASDAQ Adv/Dec 1604/1055. …NYSE Adv/Dec 1453/1137.

09:40AM ET

[BRIEFING.COM] The major U.S. indices are mostly flat in the opening minutes of today's session, but the tech-heavy Nasdaq (+0.3%) holds a modest gain.

All 11 sectors are trading within 0.5% of their flat lines this morning. The consumer staples (-0.5%) and utilities (-0.4%) groups show relative weakness, while the technology (+0.5%) and industrials (+0.2%) spaces exhibit relative strength.

Within the tech group, chipmakers are higher after Broadcom (AVGO 270.85, +6.96) reported better-than-expected earnings and issued above-consensus sales guidance for its fiscal first quarter. AVGO shares are up 2.5%, while the PHLX Semiconductor Index trades higher by 1.1%.

Dow: -1.86… | Nasdaq: +20.57… | S&P: +1.10…

NASDAQ Adv/Dec 1431/1126. …NYSE Adv/Dec 1200/1343.

09:10AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: +4.40.

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

Investors will be keeping an eye on Washington, where the GOP continues to work on its tax overhaul bill and where President Trump is scheduled to meet with congressional leaders this afternoon in hopes of reaching an agreement to avoid a government shutdown. The government's current spending bill is set to expire before midnight on Friday.

On the corporate front, chipmaker Broadcom (AVGO 275.75, +11.86) is up 4.5% after reporting better-than-expected earnings and issuing above-consensus sales guidance for its fiscal first quarter. Similarly, Dollar General (DG 95.61, +4.76) is up 5.2% after beating sales estimates and increasing its revenue guidance for the fiscal year.

Tailored Brands (TLRD 19.70, +2.51) is also higher in pre-market trading, up 14.6%, after reporting upbeat earnings and raising its guidance for fiscal year 2018.

In the bond market, U.S. Treasuries are trading flat, with the benchmark 10-yr yield unchanged at 2.33%.

U.S. sovereign debt had a muted reaction to the release of the weekly Initial Jobless Claims Report, which showed a count of 236,000 (Briefing.com consensus 240,000). As for continuing claims, they declined to 1.908 million from a revised count of 1.960 million (from 1.957 million).

Today's last economic report--October Consumer Credit (Briefing.com consensus $17.0 billion)--will be released at 15:00 ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -0.10. Nasdaq futures vs fair value: +9.50.

The S&P 500 futures in line with fair value.

Equity indices in the Asia-Pacific region ended Thursday on a mixed note. Bank of Japan Governor Haruhiko Kuroda repeated for the nth time that the central bank will persistently continue powerful easing until the 2.0% price target is reached. Meanwhile, North Korea's KCNA noted that nuclear war on the Korean Peninsula has become a matter of "when, not if." The International Monetary Fund's review of China's financial system invited concerns about Chinese banks understating the amount of non-performing loans on their books. Fitch expects that China's GDP growth will slow to 6.4% in 2018 from 6.8%.

In economic data:
Australia's November AIG Construction Index 57.5 (last 53.2). October trade surplus AUD105 million (expected surplus of AUD1.41 billion; last surplus of AUD1.60 billion). October Imports +2.0% month-over-month (last 0.0%) and October Exports -3.0% month-over-month (last 3.0%)
Japan's October Leading Index -0.4% month-over-month (last -0.7%). October Coincident Indicator +0.3% month-over-month (last -1.4%)
China's FX Reserves $3.12 trillion (expected $3.12 trillion; last $3.11 trillion)

---Equity Markets---

Japan's Nikkei gained 1.5%, rebounding from Wednesday's 2.0% decline. Tokyo Electron, SUMCO, Kirin Holdings, Hitachi Construction, Ebara, Shiseido, J Front Retailing, Yamaha, Suzuki Motor, Amada, and Sumitomo Heavy Industries posted gains between 2.6% and 4.9%.
Hong Kong's Hang Seng added 0.3%. Tencent Holdings and AAC Technologies both gained near 3.0% while Ping An Insurance, BoC Hong Kong, Hang Seng Bank, HSBC, and Bank of East Asia gained between 0.1% and 2.8%.
China's Shanghai Composite lost 0.7%. Anhui Conch Cement, Hubei Xingfa Chemicals, Shanghai Chinafortune, Fangda Special Steel, and Hengtong Optic Electric posted losses between 3.5% and 4.8%.
India's Sensex gained 1.1% amid broad strength. GAIL, Bharti Airtel, Asian Paints, Maruti Suzuki, Tata Steel, Bajaj Auto, ICICI Bank, SBI, and AXIS Bank advanced between 0.8% and 8.0%.

Major European indices are little changed. In Germany, SPD leader Martin Schulz will reportedly ask his party members for support to start coalition talks with Angela Merkel's CDU/CSU. On a side note, Mr. Schulz called for a federal constitution for a United States of Europe by 2025. Outgoing Eurogroup Chief Jeroen Dijsselbloem said the Eurogroup's policies will not be changed under Mario Centeno. Brexit talks remain in limbo due to limited progress on the Irish border issue. The European Central Bank approved the creation of a Eurosystem Collateral Management System with a target launch date of November 2022.

In economic data:
Eurozone Q3 GDP +0.6% quarter-over-quarter, as expected (last 0.6%); +2.6% year-over-year (consensus 2.5%; last 2.5%)
UK's November Halifax House Price Index +0.5% month-over-month (expected 0.2%; last 0.3%); +3.9% year-over-year, as expected (last 4.5%)
Germany's October Industrial Production -1.4% month-over-month (expected 1.0%; last -0.9%)
France's October trade deficit EUR5.00 billion (expected deficit of EUR4.60 billion; last deficit of EUR4.70 billion)
Italy's Quarterly Unemployment Rate held at 11.2%, as expected
Swiss November Unemployment Rate 3.0% (expected 3.1%; last 3.1%)

---Equity Markets---

France's CAC is down 0.1%. Financials like Credit Agricole and Societe Generale outperform with respective gains of 1.9% and 1.1% while Airbus Group, Louis Vuitton, Carrefour, and ArcelorMittal sport losses between 0.8% and 2.9%.
Germany's DAX is flat. Volkswagen leads with a gain of 2.3% while countercyclical names like RWE and Deutsche Telekom show respective gains of 1.0% and 1.7%. Commerzbank has added 1.3% while BASF, Bayer, and BMW show losses between 0.8% and 1.3%.
UK's FTSE is lower by 0.1% with select consumer names displaying relative strength. Pearson, Dixons Carphone, Travis Perkins, and Reckitt Benckiser have climbed between 0.6% and 2.4%.

08:31AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +18.40.

The S&P 500 futures trade one point above fair value.

Just in, the latest weekly initial jobless claims count totaled 236,000, while the Briefing.com consensus expected a reading of 240,000. Today's tally was below the unrevised prior week count of 238,000. As for continuing claims, they declined to 1.908 million from a revised count of 1.960 million (from 1.957 million).

07:55AM ET

[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +12.60.

The S&P 500 is still looking for its first win of the week coming into Thursday's session, but the equity futures market has little to say about its chances; the S&P 500 futures are trading in line with fair value. Meanwhile, the Dow futures show relative weakness, down 0.1%, and the Nasdaq futures show relative strength, up 0.2%.

Elsewhere, equity indices in the Asia-Pacific region ended Thursday on a mixed note, with Japan's Nikkei (+1.5%) exhibiting relative strength, while the major European bourses are currently trading a tick above their unchanged marks. The Euro Stoxx 50 is up 0.2%.

Investors will be keeping an eye on Washington, where President Trump is scheduled to meet with congressional leaders this afternoon in hopes of reaching an agreement to avoid a government shutdown. The current spending bill is set to expire before midnight on Friday.

In the bond market, U.S. Treasuries are trading roughly flat this morning, with the benchmark 10-yr yield unchanged at 2.35%.

Meanwhile, West Texas Intermediate crude futures are up 0.2% at $56.07 per barrel after slipping to their worst level in over two weeks on Wednesday. The S&P 500's energy sector, which typically moves in tandem with the price of crude oil, is the week's worst-performing group with a week-to-date loss of 1.8%.

For comparison, the S&P 500 enters Thursday's session with a week-to-date loss of 0.5%.

Traders will receive just two economic reports today--weekly Initial Claims (Briefing.com consensus 240K) and October Consumer Credit (Briefing.com consensus $17.0 billion). The two pieces of data will cross the wires at 8:30 ET and 15:00 ET, respectively.

In U.S. corporate news:

Broadcom (AVGO 276.11, +12.22): +4.6% after reporting better-than-expected earnings and issuing above-consensus sales guidance for its fiscal first quarter.
Dollar General (DG 92.60, +1.75): +1.9% after beating revenue estimates and increasing its sales guidance for the fiscal year.
lululemon athletica (LULU 73.85, +6.19): +9.2% after beating both earnings and revenue estimates and raising its profit and sales guidance for the holiday season.
AK Steel (AKS 5.33, +0.30): +6.0% after JP Morgan upgraded the company to 'Overweight' from 'Neutral.'
Tailored Brands (TLRD 19.26, +2.07): +12.0% after reporting above-consensus earnings and raising its guidance for fiscal year 2018.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a mixed note. Japan's Nikkei +1.5%, Hong Kong's Hang Seng +0.3%, China's Shanghai Composite -0.7%, India's Sensex +1.1%.
In economic data:
Australia's November AIG Construction Index 57.5 (last 53.2). October trade surplus AUD105 million (expected surplus of AUD1.41 billion; last surplus of AUD1.60 billion). October Imports +2.0% month-over-month (last 0.0%) and October Exports -3.0% month-over-month (last 3.0%)
Japan's October Leading Index -0.4% month-over-month (last -0.7%). October Coincident Indicator +0.3% month-over-month (last -1.4%)
China's FX Reserves $3.12 trillion (expected $3.12 trillion; last $3.11 trillion)
In news:
Bank of Japan Governor Haruhiko Kuroda repeated for the nth time that the central bank will persistently continue powerful easing until the 2.0% price target is reached.
North Korea's KCNA noted that nuclear war on the Korean Peninsula has become a matter of "when, not if."
The International Monetary Fund's review of China's financial system invited concerns about Chinese banks understating the amount of non-performing loans on their books.
Fitch expects that China's GDP growth will slow to 6.4% in 2018 from 6.8%.

Major European indices are little changed. France's CAC unch, Germany's DAX +0.1%, UK's FTSE +0.1%.
In economic data:
Eurozone Q3 GDP +0.6% quarter-over-quarter, as expected (last 0.6%); +2.6% year-over-year (consensus 2.5%; last 2.5%)
UK's November Halifax House Price Index +0.5% month-over-month (expected 0.2%; last 0.3%); +3.9% year-over-year, as expected (last 4.5%)
Germany's October Industrial Production -1.4% month-over-month (expected 1.0%; last -0.9%)
France's October trade deficit EUR5.00 billion (expected deficit of EUR4.60 billion; last deficit of EUR4.70 billion)
Italy's Quarterly Unemployment Rate held at 11.2%, as expected
Swiss November Unemployment Rate 3.0% (expected 3.1%; last 3.1%)
In news:
In Germany, SPD leader Martin Schulz will reportedly ask his party members for support to start coalition talks with Angela Merkel's CDU/CSU. On a side note, Mr. Schulz called for a federal constitution for a United States of Europe by 2025.
Outgoing Eurogroup Chief Jeroen Dijsselbloem said the Eurogroup's policies will not be changed under Mario Centeno.
Brexit talks remain in limbo due to limited progress on the Irish border issue.
The European Central Bank approved the creation of a Eurosystem Collateral Management System with a target launch date of November 2022.

06:00AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +22.10.
06:00AM ET

[BRIEFING.COM] Nikkei...22498...+321.00...+1.50%

Hang Seng...28303...+78.40...+0.30%

06:00AM ET

[BRIEFING.COM] FTSE...7348.42...+0.40...+0.00%

06:00AM ET

[BRIEFING.COM] FTSE...7348.42...+0.40...+0.00%

DAX...13071.71...+72.90...+0.60%

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
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


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