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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
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 Post subject: December 8th Friday Trade Results - No Trades
PostPosted: Sun Dec 10, 2017 11:11 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
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Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
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Quote:
No trades...a day of rest and appointments.

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=2714

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 04:30PM ET
Dow: +117.68… | Nasdaq: +27.24… | S&P: +14.52…
NASDAQ Vol: 1.81 bln… Adv: 1400… Dec: 1205…
NYSE Vol: 740.3 mln… Adv: 1766… Dec: 1150…

Moving the Market

Employment Situation Report for November shows strong job growth; wages increase less than expected

Congress passes two-week stopgap spending bill; avoids government shutdown

Sector Watch
Strong: Energy, Health Care, Telecom Services
Weak: Materials, Consumer Staples, Utilities, Real Estate

04:30PM ET

[BRIEFING.COM] U.S. stocks finished the week on a positive note, helped by a favorable Employment Situation Report for November.

Both the S&P 500 and the Dow settled at new all-time highs, adding 0.6% and 0.5%, respectively. The Nasdaq finished slightly behind its peers, adding 0.4%, while the small-cap Russell 2000 showed relative weakness, finishing with a gain of just 0.1%. For the week, the S&P 500 advanced 0.4%.

The Employment Situation Report for November showed strong job growth and subdued wage growth, keeping in line with recent trends. Nonfarm payrolls increased more than expected (228K actual vs 190K Briefing.com consensus), average hourly earnings rose less than expected (+0.2% actual vs +0.3% Briefing.com consensus), and the unemployment rate stayed at 4.1%.

In short, the report isn't likely to keep the Fed from raising rates at next week's meeting, but it could give the Fed a cause for pause going into 2018.

A positive vibe from overseas equity markets also contributed to the upbeat sentiment on Wall Street. Stocks in the Asia-Pacific region finished Friday broadly higher as investors rallied around China's better-than-expected November trade surplus (+$40.21 billion actual vs +$35.00 billion expected). Japan's Nikkei added 1.4%, finishing flat for the week.

Elsewhere, the Euro Stoxx 50 settled with a gain of 0.6% after the UK and the European Union reached an agreement on Brexit divorce terms. Britain will pay as much as GBP39 billion to complete the separation and there will be no hard border between Ireland and Northern Ireland. Talks will now turn to future trade relations.

In addition, Congress' decision to pass a two-week stopgap spending bill, which delayed an impending government shutdown, helped underpin Friday's advance.

The S&P 500's telecom services sector (+1.5%) was the top-performing group, followed from a distance by the heavily-weighted health care space (+1.1%). Within the health care group, biotech names showed particular strength, sending the iShares Nasdaq Biotechnology ETF (IBB 106.07, +2.02) higher by 1.9%.

Alexion Pharmaceuticals (ALXN 114.46, +7.68) paced the biotech rally, jumping 7.2%, after the New York Times reported that activist hedge fund Elliot Management has urged the biotech company to do more to lift its stock price. Celgene (CELG 106.09, +3.36) also outperformed, adding 3.3%, after Atlantic Equities upgraded its shares to 'Overweight.'

In total, ten of eleven sectors finished Friday's session in positive territory, with the lightly-weighted materials space (unch) being the lone laggard.

Outside the equity market, U.S. Treasuries finished mostly flat, with the benchmark 10-yr yield closing unchanged at 2.38%, while the U.S. Dollar Index ticked up 0.1% to 93.88. West Texas Intermediate crude futures jumped 1.1% to $57.30 per barrel, but still finished the week lower by 1.8%.

Reviewing Friday's economic data, which included the Employment Situation Report for November, the preliminary reading of the University of Michigan Consumer Sentiment Index for December, and October Wholesale Inventories:

Employment Situation Report
November nonfarm payrolls increased by 228,000 while the Briefing.com consensus expected an increase of 190,000. The prior month's increase was revised to 244,000 from 261,000. Nonfarm private payrolls rose by 221,000 while the Briefing.com consensus expected an increase of 170,000. The previous month's increase was revised to 247,000 from 252,000.
The unemployment rate stayed at 4.1% (Briefing.com consensus 4.1%). Average hourly earnings increased by 0.2% (Briefing.com consensus +0.3%), while the previous month's reading was revised to -0.1% from 0.0%. The average workweek was reported at 34.5 (Briefing.com consensus 34.4). The previous month's reading was left unrevised at 34.4.
The key takeaway from the report is that wage growth remains subdued. That isn't likely to keep the Fed from raising rates at this month's meeting, yet it could give the Fed a data-based reason to move more slowly on the next rate hike in 2018.
University of Michigan Consumer Sentiment:
The preliminary reading of the University of Michigan Consumer Sentiment Index for December declined to 96.8 (Briefing.com consensus 98.8) from 98.5 in November.
The key takeaway from the report is that consumers continue to remain upbeat about current economic conditions, with higher income expectations feeding their optimism. As an aside, there was also a jump in consumers' inflation expectations for 2018.
Wholesale Inventories
October Wholesale Inventories decreased 0.5% (Briefing.com consensus -0.4%). The September reading was revised to +0.1% from +0.3%.
The key takeaway from the report is that the sales increase outpaced the inventory increase by a sizable margin, which is a step in the right direction for wholesalers trying to regain some pricing power.

On Monday, investors will receive just one economic report--the October Job Openings and Labor Turnover Survey--which will be released at 10:00 ET.

Nasdaq Composite +27.1% YTD
Dow Jones Industrial Average +23.1% YTD
S&P 500 +18.4% YTD
Russell 2000 +12.1% YTD

Week In Review: Waiting on Washington

Equities ticked higher this week as investors geared up for an end-of-year showdown in Washington.

The S&P 500 and the Dow Jones Industrial Average both advanced 0.4%, closing Friday's session at fresh record highs, while the tech-heavy Nasdaq underperformed, losing 0.1%. Small caps struggled this week, pushing the Russell 2000 lower by 1.0%.

Investor sentiment was upbeat at Monday's opening bell after the U.S. Senate passed its version of a tax reform bill over the weekend, allowing the GOP to enter the final stretch of its quest to rewrite the tax code. House and Senate Republicans are hoping to reach an agreement on a final bill and pass said bill in their respective chambers before December 22.

In addition to the GOP's self-imposed tax reform deadline, December 22 is the new end date for government funding after Congress agreed to a two-week stopgap spending bill on Thursday evening. The risk of a government shutdown was on investors' minds throughout the week, helping to keep the bulls in check.

With the legislative agenda for the rest of the year virtually set, investors appeared to be in wait-and-see mode for much of the week, taking some profits and readjusting their portfolios. However, the Employment Situation Report for November, which was released on Friday, helped equities finish the week on a positive note.

The Employment Situation Report for November showed a larger-than-expected increase in nonfarm payrolls (228K actual vs 190K Briefing.com consensus) and a smaller-than-expected rise in average hourly earnings (+0.2% actual vs +0.3% Briefing.com consensus).

In other words, job growth has remained strong while wages--which are positively correlated with inflation--have remained relatively subdued. This combination has proven to be highly beneficial for the stock market as it points to steady economic growth but leaves out the inflationary concerns that typically accompany said growth.

The S&P 500's eleven sectors finished the week mixed, with seven settling in the green and four closing in the red. The financial sector was the top performer, adding 1.5%, followed closely by the industrial group (+1.4%). Within the industrial space, transports showed particular strength, pushing the Dow Jones Transportation Average higher by 2.1%.

On the downside, the energy sector lost 0.7% amid a decrease in the price of crude oil; West Texas Intermediate crude futures declined 1.8% to $57.30 per barrel. The utilities space (-1.0%) also struggled as energy providers like Edison (EIX) faced outages due to wild fires in Southern California; EIX shares lost 11.1% for the week.

Corporate news was pretty light this week, but it's worth noting that CVS Health (CVS) acquired health insurer Aetna (AET) for $207 per share in cash and stock. That price represents a premium of about 29% to where Aetna shares were trading before the Wall Street Journal reported that the companies were in talks in October.

Looking ahead, the Fed is widely expected to announce a rate hike of 25 basis points next week, which would bring the fed funds target range to 1.25%-1.50%.

Dow: +117.68… | Nasdaq: +27.24… | S&P: +14.52…

NASDAQ Adv/Dec 1400/1205. …NYSE Adv/Dec 1766/1150.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 1.91% at 83.8
Dollar index is currently up 0.11% at 93.89
Jan WTI Crude is up 1.08% on the day.
Baker Hughes total U.S. rig count increased by 2 to 931 following last week's increase of 6
Futures settle $0.61 higher to $57.3/barrel.
In other energy, Jan Natural Gas settled up $0.01 at $2.77/MMBtu
On the metals:
Feb Gold lost $4.00 to settle at $1249.10/oz, while Mar silver gained $0.02 to $15.82/oz
Mar Copper gained $0.02 to $2.98/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.53/bu.
Jan Soy settled up $0.0075 at $9.9075/bu.
Mar Wheat settled down $0.01 at $4.18/bu.

Dow: +93.41… | Nasdaq: +25.82… | S&P: +12.02…

NASDAQ Adv/Dec 1433/1302. …NYSE Adv/Dec 1786/1143.

03:00PM ET

[BRIEFING.COM] The Dow (+0.3%) and the S&P 500 (+0.4%) are in position to finish today's session at new all-time highs.

Looking ahead, the biggest item on next week's economic calendar, at least nominally, is the Fed's latest policy directive, which will cross the wires Wednesday afternoon. However, the release will likely turn out to be a nonevent as it's widely expected that the Fed will vote to raise the fed funds target range by 25 basis points to 1.25%-1.50%.

Other notable economic releases on next week's docket include the November Producer Price Index (Tuesday), the November Consumer Price Index (Wednesday), November Retail Sales (Thursday), and November Capacity Utilization & Industrial Production (Friday).

Dow: +81.24… | Nasdaq: +25.30… | S&P: +10.73…

NASDAQ Adv/Dec 1493/1275. …NYSE Adv/Dec 1741/1170.

02:30PM ET

[BRIEFING.COM] Stocks have slipped in recent action, with technology shares leading the move. The S&P 500 is still higher by 0.4%, but its technology sector (+0.3%) is hovering at a new session low.

In the currency market, the U.S. Dollar Index is up 0.2% at 93.89, moving above its 50-day simple moving average for the first time in nearly three weeks.

The greenback has jumped 0.6% against the pound to 1.3397 after British Prime Minister Theresa May announced alongside European Commission President Jean-Claude Juncker that the two sides have reached an agreement on Brexit divorce terms. Britain will pay as much as GBP39 billion to complete the separation and there will be no hard border between Ireland and Northern Ireland.

Meanwhile, the CBOE Volatility Index (VIX 9.65, -0.51) has fallen 5.0% today, hitting a fresh two-week low.

Dow: +87.40… | Nasdaq: +23.62… | S&P: +11.02…

NASDAQ Adv/Dec 1513/1279. …NYSE Adv/Dec 1762/1142.

02:00PM ET

[BRIEFING.COM] Range-bound action continues this afternoon as equities hover near their session highs. The major stock indices hold gains between 0.4% and 0.6%.

Transports have had a solid week, evidenced by the Dow Jones Transportation Average's week-to-date gain of 2.4%. The DJTA has added 0.6% in today's session, with airlines like Delta Air Lines (DAL 53.96, +0.56), JetBlue Airways (JBLU 22.15, +0.28), and United Continental (UAL 64.21, +0.68) pacing the advance; the three names hold gains between 1.1% and 1.4%.

However, the S&P 500's industrial sector (+0.4%), which houses transport names, is struggling to keep pace with the broader market. Within the group, Dow component 3M (MMM 238.29, -2.01) is among the weakest components, showing a loss of 0.8%.

Dow: +87.89… | Nasdaq: +35.82… | S&P: +12.81…

NASDAQ Adv/Dec 1625/1167. …NYSE Adv/Dec 1857/1032.

01:35PM ET

[BRIEFING.COM] The major U.S. indices continue to inch higher following this morning's strong jobs report, with stocks currently at their best levels of the day.

A look inside the Dow Jones Industrial Average shows that Microsoft (MSFT 84.23, +1.74), UnitedHealth Group (UNH 224.16, +4.01), & Merck (MRK 55.43, +0.66) are outperforming. Microsoft is leading the Dow after analysts at Evercore ISI raised their price target on shares to $106 from $93.

Conversely, Coca-Cola (KO 45.09, -0.69) is the worst-performing Dow component amid general weakness in consumer staples.

On the heels of today's session, the DJIA is poised to close the week with gains of 0.3%.

Dow: +92.45… | Nasdaq: +43.40… | S&P: +14.40…

NASDAQ Adv/Dec 1663/1140. …NYSE Adv/Dec 1893/982.

01:05PM ET

[BRIEFING.COM] Stocks are closing in on new record highs this afternoon, with health care shares leading the charge.

The Nasdaq is up 0.7%, the S&P 500 is higher by 0.5%, and the Dow Jones Industrial Average is sporting a gain of 0.4%. All three major indices are currently hovering near their best marks of the day, and both the Dow and the S&P 500 are on track to finish at new all-time highs.

Wall Street was upbeat even before today's opening bell as equities rallied around the globe. In the Asia-Pacific region, the major stock indices finished Friday solidly higher, underpinned by China's better-than-expected November trade surplus (+$40.21 billion actual vs +$35.00 billion expected).

Elsewhere, the Euro Stoxx 50 jumped 0.6% after the UK and the European Union reached an agreement on Brexit divorce terms.

Back in the U.S., the Employment Situation Report for November further fueled the bullish sentiment, showing a larger-than-expected increase in nonfarm payrolls (228K actual vs 190K Briefing.com consensus) and a smaller-than-expected rise in average hourly earnings (+0.2% actual vs +0.3% Briefing.com consensus).

The key takeaway from the report is that wage growth remains subdued. That isn't likely to keep the Fed from raising rates at this month's meeting, yet it could give the Fed a data-based reason to move more slowly on the next rate hike in 2018.

In addition, Congress passed a two-week stopgap spending bill on Thursday evening that's put off worries of a government shutdown for the time being.

Nine of eleven sectors are trading in the green this afternoon, with the two laggards--utilities (unch) and consumer staples (unch) showing slim losses of less than 0.1%. Meanwhile, the health care sector (+1.0%) is the top-performing group, helped by biotechnology shares, which have pushed the iShares Nasdaq Biotechnology ETF (IBB 106.47, +2.42) higher by 2.3%.

Biotech giant Celgene (CELG 105.41, +2.65) is up 2.6% after Atlantic Equities upgraded its shares to 'Overweight' and Alexion Pharmaceuticals (ALXN 114.81, +8.09) trades higher by 7.6% after the New York Times reported that Elliot Management has urged the biotech company to do more to lift its stock price.

The energy sector (+0.7%) is also trading ahead of the broader market, benefiting from an increase in the price of crude oil; West Texas Intermediate crude futures are up 1.0% at $57.25 per barrel. However, it's worth noting that WTI crude futures held a gain of nearly 2.0% earlier in the session.

In the bond market, U.S. Treasuries are trading mixed this afternoon, with the 2yr-10yr spread steepening by two basis points. The yield on the benchmark 10-yr Treasury note is flat at 2.38%, while the 2-yr yield is down two basis points at 1.79%.

Reviewing Friday's economic data, which included the Employment Situation Report for November, the preliminary reading of the University of Michigan Consumer Sentiment Index for December, and October Wholesale Inventories:

Employment Situation Report
November nonfarm payrolls increased by 228,000 while the Briefing.com consensus expected an increase of 190,000. The prior month's increase was revised to 244,000 from 261,000. Nonfarm private payrolls rose by 221,000 while the Briefing.com consensus expected an increase of 170,000. The previous month's increase was revised to 247,000 from 252,000.
The unemployment rate stayed at 4.1% (Briefing.com consensus 4.1%). Average hourly earnings increased by 0.2% (Briefing.com consensus +0.3%), while the previous month's reading was revised to -0.1% from 0.0%. The average workweek was reported at 34.5 (Briefing.com consensus 34.4). The previous month's reading was left unrevised at 34.4.
The key takeaway from the report is that wage growth remains subdued. That isn't likely to keep the Fed from raising rates at this month's meeting, yet it could give the Fed a data-based reason to move more slowly on the next rate hike in 2018.
University of Michigan Consumer Sentiment:
The preliminary reading of the University of Michigan Consumer Sentiment Index for December declined to 96.8 (Briefing.com consensus 98.8) from 98.5 in November.
The key takeaway from the report is that consumers continue to remain upbeat about current economic conditions, with higher income expectations feeding their optimism. As an aside, there was also a jump in consumers' inflation expectations for 2018.
Wholesale Inventories
October Wholesale Inventories decreased 0.5% (Briefing.com consensus -0.4%). The September reading was revised to +0.1% from +0.3%.
The key takeaway from the report is that the sales increase outpaced the inventory increase by a sizable margin, which is a step in the right direction for wholesalers trying to regain some pricing power.

Dow: +81.66… | Nasdaq: +39.31… | S&P: +12.63…

NASDAQ Adv/Dec 1733/1068. …NYSE Adv/Dec 1909/978.

12:30PM ET

[BRIEFING.COM] The major averages have been ticking higher as of late, hitting new session highs. The S&P 500 is now higher by 0.5%.

Nine sectors are trading in the green--health care (+1.0%), telecom services (+0.9%), energy (+0.7%), consumer discretionary (+0.6%), technology (+0.6%), industrials (+0.4%), real estate (+0.4%), materials (+0.3%), and financials (+0.2%)--while two trade slightly lower--consumer staples (unch) and utilities (unch).

Elsewhere, the major European bourses finished Friday higher, with the UK's FTSE (+1.0%) leading the charge. The UK and the European Union reached an agreement on Brexit divorce terms and will now begin negotiating their future trade relations.

Dow: +104.22… | Nasdaq: +46.12… | S&P: +13.73…

NASDAQ Adv/Dec 1747/1051. …NYSE Adv/Dec 1926/949.

12:00PM ET

[BRIEFING.COM] Equity indices continue to trade at their recent levels. The S&P 500 is higher by 0.4%.

The energy sector (+0.7%) is hovering near the top of today's sector standings moving into the afternoon session, underpinned by an increase in the price of crude oil; West Texas Intermediate crude futures are up 1.4% at $57.48 per barrel. Within the group, Dow component Exxon Mobil (XOM 82.51, -0.04) is the only company trading in the red (-0.1%).

At the opposite end of the leaderboard, the consumer staples and utilities spaces show losses of 0.1% apiece. Today's decline places the utilities group at the back of the pack for the week, with a week-to-date loss of 1.4%. For comparison, the S&P 500 is up 0.2% week to date.

Dow: +78.35… | Nasdaq: +34.99… | S&P: +10.90…

NASDAQ Adv/Dec 1694/1099. …NYSE Adv/Dec 1824/1029.

11:30AM ET

[BRIEFING.COM] The major U.S. indices have not changed since the last update.

Retailers are showing relative strength today, evidenced by the 1.0% increase in the SPDR S&P Retail ETF (XRT 44.88, +0.47). Home-improvement retailers like Lowe's (LOW 85.41, +1.75) and Home Depot (HD 183.36, +1.36) are up 2.1% and 0.9%, respectively, while L Brands (LB 57.15, +2.05), which owns Victoria Secret and Bath & Body Works, sports a gain of 3.6%.

Today's advance extends the XRT's week-to-date gain to 3.2%.

In the bond market, U.S. Treasuries are mostly flat, although shorter-dated issues are in demand. The yield on the benchmark 10-yr Treasury note is unchanged at 2.38%, while the 2-yr yield is down two basis points at 1.79%. Yields move inversely to prices.

Dow: +58.35… | Nasdaq: +32.78… | S&P: +9.16…

NASDAQ Adv/Dec 1606/1161. …NYSE Adv/Dec 1725/1093.

11:00AM ET

[BRIEFING.COM] Stocks haven't deviated much from their opening levels. The tech-heavy Nasdaq is still the top-performing index, sporting a gain of 0.7%, followed by the S&P 500 and then the Dow, which are up 0.4% and 0.2%, respectively.

Nine of eleven sectors are trading in the green this morning, with the technology (+0.8%) and health care (+0.7%) groups pacing the advance. Within the health care space, biotechnology names are particularly strong, pushing the iShares Nasdaq Biotechnology ETF (IBB 105.92, +1.90) higher by 1.8%.

The biotech rally follows a New York Times report that Elliot Management has urged Alexion Pharmaceuticals (ALXN 113.68, +6.90) to do more to lift its stock price; ALXN shares are up 6.5%. Also of note, biotech giant Celgene (CELG 106.26, +3.53) is up 3.4% after Atlantic Equities upgraded its shares to 'Overweight.'

Dow: +60.65… | Nasdaq: +44.70… | S&P: +10.29…

NASDAQ Adv/Dec 1654/1118. …NYSE Adv/Dec 1694/1093.

10:30AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 83.8
Dollar index is currently up 0.2% at 93.98
Jan WTI crude is up 0.69% on the day.
Baker Hughes U.S. rig count to be released at noon eastern.
Futures are $0.39 higher to $57.08/barrel.
In other energy, Jan natural gas is unchanged at $2.76/MMBtu
Metals:
Feb gold lost $3.30 and trades at $1249.80/oz, while Mar silver gained $0.01 to $15.81/oz
Mar copper gained 0.01 to $2.97/lb
Finally, agriculture:
Mar corn is up $0.02 at $3.54/bu.
Jan soy is down $0.02 at $9.905/bu.
Mar wheat is flat at $4.22/bu.

Dow: +45.51… | Nasdaq: +42.87… | S&P: +9.42…

NASDAQ Adv/Dec 1604/1114. …NYSE Adv/Dec 1595/1152.

10:00AM ET

[BRIEFING.COM] Equity indices remain in positive territory, with the S&P 500 showing a gain of 0.4%.

Just in, the preliminary reading of the University of Michigan Consumer Sentiment Index for December declined to 96.8 (Briefing.com consensus 98.8) from 98.5 in November.

Separately, October Wholesale Inventories decreased 0.5% (Briefing.com consensus -0.4%). The September reading was revised to +0.1% from +0.3%.

Dow: +63.02… | Nasdaq: +48.56… | S&P: +10.79…

NASDAQ Adv/Dec 1682/969. …NYSE Adv/Dec 1680/995.

09:45AM ET

[BRIEFING.COM] The major U.S. indices are higher in the opening minutes of today's session. The Dow is up 0.1%, the S&P 500 is higher by 0.3%, and the Nasdaq sports a gain of 0.7%.

Most of the 11 sectors are trading in positive territory, with the top-weighted technology group (+0.8%) leading the charge. The early advance places the tech space in the green for the week (+0.4% WTD). Meanwhile, the energy space (+0.5%) also shows relative strength amid an increase in the price of crude oil; WTI crude futures are up 1.4% at $57.48/bbl.

On the downside, the financials (unch), consumer staples (-0.3%), and utilities (-0.3%) spaces are trading in the red.

As a reminder, 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) will be released shortly at 10:00 ET.

Dow: +33.83… | Nasdaq: +43.40… | S&P: +8.17…

NASDAQ Adv/Dec 1666/883. …NYSE Adv/Dec 1741/893.

09:10AM ET

[BRIEFING.COM] S&P futures vs fair value: +11.30. Nasdaq futures vs fair value: +31.40.

Wall Street is optimistic this morning as equities rally around the globe; the S&P 500 futures trade 11 points, or 0.4%, above fair value.

The Employment Situation Report for November crossed the wires not long ago, showing a larger-than-expected increase in nonfarm payrolls (228K actual vs 190K Briefing.com consensus) and a smaller-than-expected rise in average hourly earnings (+0.2% actual vs +0.3% Briefing.com consensus).

Equity futures ticked higher following the release, as did the U.S. Treasury market. The yield on the benchmark 10-yr Treasury note is down one basis point at 2.37% after trading near its unchanged mark ahead of the release. Meanwhile, the 2-yr yield is also down one basis point, hovering at 1.80%.

Today's last economic reports--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)--will be released at 10:00 ET.

In Washington, Congress passed a two-week stopgap spending bill on Thursday evening, extending the government's funding until December 22 and putting off worries of a government shutdown for the time being. The last spending bill was set to expire at 12:01 a.m. ET Saturday morning.

Elsewhere, the major European bourses are trading higher this morning, with Germany's DAX (+1.1%) showing particular strength, following news that the U.K. and the European Union have reached an agreement on Brexit divorce terms. Britain will pay as much as GBP39 billion to complete the separation and there will be no hard border between Ireland and Northern Ireland.

Stock indices in the Asia-Pacific region ended Friday on a higher note, with Japan's Nikkei (+1.4%) returning to its flat line for the week.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +11.80. Nasdaq futures vs fair value: +31.10.

The S&P 500 futures are trading 12 points, or 0.5%, above fair value.

Equity indices in the Asia-Pacific region ended the week on a mostly higher note. China reported better than expected trade figures for November, underpinning overall investor sentiment. Meanwhile, data from Japan featured above-consensus third quarter GDP. Reports in Chinese press noted that People's Bank of China regulators are cracking down on unlicensed payment companies. Separate reports revealed that the PBoC held meetings with major commercial banks amid the recent weakness in the Chinese bond market. Samsung Heavy Industries remained pressured in South Korea after issuing a profit warning on Wednesday.

In economic data:
China's November trade surplus $40.21 billion (expected surplus of $35.00 billion; last surplus of $38.19 billion). November Imports +17.7% year-over-year (consensus 11.3%; last 17.2%) and November Exports +12.3% year-over-year (consensus 5.0%; last 6.9%)
Japan's Q3 GDP +0.6% quarter-over-quarter (expected 0.4%; last 0.3%); +2.5% year-over-year (consensus 1.5%; last 1.4%). October Current Account JPY2.44 trillion (expected surplus of JPY1.93 trillion; last surplus of JPY1.84 trillion). November Bank Lending +2.7% year-over-year (consensus 2.8%; last 2.8%). November Economy Watchers Current Index 55.1 (expected 52.3; last 52.2)
Australia's October Home Loans -0.6% month-over-month (expected -1.8%; last -2.5%). October Invest Housing Finance +1.6% month-over-month (last -6.2%)

---Equity Markets---

Japan's Nikkei gained 1.4%, returning to unchanged for the week. SUMCO, Nippon Express, Trend Micro, Suzuki Motor, Komatsu, Fast Retailing, Kyocera, Nissan Chemical, Tokyo Electron, and Konami posted gains between 2.5% and 4.4%.
Hong Kong's Hang Seng climbed 1.2%, trimming this week's loss to 1.5%. Stocks that underperformed earlier in the week led on Friday. Geely Automobile, Tencent Holdings, AAC Technologies, and Galaxy Entertainment advanced between 2.4% and 5.1%.
China's Shanghai Composite rose 0.6%, but lost 0.8% for the week. Shanghai Bailian Group, Shanghai Broadband Technology, CMST Development, Inner Mongolia Eerduosi Resources, and Anyang Iron & Steel gained between 4.8% and 8.6%.
India's Sensex advanced 0.9%, narrowing this week's loss to 1.3%. ITC, Sun Pharma, Tata Motors, Maruti Suzuki, HDFC Bank, AXIS Bank, and ICICI Bank climbed between 1.5% and 3.4%.

Major European indices trade in the green with Italy's MIB (+1.4%) displaying relative strength. British Prime Minister Theresa May announced alongside European Commission President Jean-Claude Juncker that enough progress was made in Brexit talks to begin discussing future trade. Britain will pay as much as GBP39 billion to complete the separation and there will be no hard border between Ireland and Northern Ireland. In Germany, SPD voted to begin coalition talks with Chancellor Angela Merkel's CDU/CSU, but an agreement is not expected to be struck swiftly.

In economic data:
Germany's October trade surplus EUR19.90 billion (expected surplus of EUR21.80 billion; last surplus of EUR21.90 billion). October Imports +1.8% month-over-month (expected 1.1%; last -1.1%) and October Exports -0.4% month-over-month (expected 1.0%; last -0.4%)
France's October Industrial Production +1.9% month-over-month (expected -0.1%; last 0.8%)
UK's October Industrial Production 0.0% month-over-month, as expected (last 0.7%); +3.6% year-over-year (consensus 3.5%; last 2.5%). October Construction Output -1.7% month-over-month (expected 0.4%; last -1.6%); -0.2% year-over-year (consensus 1.9%; last 1.1%). October Manufacturing Production +0.1% month-over-month (expected -0.1%; last 0.7%); +3.9% year-over-year, as expected (last 2.7%). October trade deficit GBP10.78 billion (expected deficit of GBP11.45 billion; last deficit of GBP10.45 billion)

---Equity Markets---

France's CAC trades up 0.5% with financials in the lead. BNP Paribas, Credit Agricole, and Societe Generale sport gains of around 3.5% apiece. Other heavyweights like Renault, STMicroelectronics, ArcelorMittal, Kering, and TechnipFMC have gained between 0.6% and 1.7%.
UK's FTSE has risen 0.9% amid strength in homebuilders and other consumer names. Berkeley Group, Barratt Developments, Taylor Wimpey, and Persimmon are up between 2.2% and 8.0% while Paddy Power, TUI, Dixons Carphone, Burberry, and Carnival sport gains between 1.0% and 2.4%.
Germany's DAX has climbed 1.3%. Financials Deutsche Bank and Commerzbank lead with gains of 3.2% apiece while Lufthansa, Continental, SAP, Volkswagen, BASF, Daimler, and Siemens are up between 1.1% and 2.3%.
Italy's MIB is higher by 1.4% with financials pacing the advance. UniCredit, UBI Banca, Banco Bpm, Bper Banca, Intesa Sanpaolo, and FinecoBank show gains between 1.6% and 3.5%.

08:32AM ET

[BRIEFING.COM] S&P futures vs fair value: +9.30. Nasdaq futures vs fair value: +20.60.

The S&P 500 futures are trading nine points, or 0.4%, above fair value.

Just in, November nonfarm payrolls increased by 228,000 while the Briefing.com consensus expected an increase of 190,000. The prior month's increase was revised to 244,000 from 261,000. Nonfarm private payrolls rose by 221,000 while the Briefing.com consensus expected an increase of 170,000. The previous month's increase was revised to 247,000 from 252,000.

The unemployment rate stayed at 4.1% (Briefing.com consensus 4.1%). Average hourly earnings increased by 0.2% (Briefing.com consensus +0.3%), while the previous month's reading was revised to -0.1% from 0.0%. The average workweek was reported at 34.5 (Briefing.com consensus 34.4). The previous month's reading was left unrevised at 34.4.

07:57AM ET

[BRIEFING.COM] S&P futures vs fair value: +7.10. Nasdaq futures vs fair value: +21.30.

Investors are upbeat going into this morning's release of the Employment Situation Report for November after the possibility of a government shutdown was put off for another two weeks on Thursday evening and following news that the U.K. and the European Union have reached an agreement on Brexit divorce terms.

The Nasdaq futures are up 21 points (+0.4%), the S&P 500 futures are up 7 points (+0.2%), and the Dow futures are up 27 points (+0.1%).

Elsewhere, equity indices in the Asia-Pacific region ended Friday on a higher note, with Japan's Nikkei (+1.4%) returning to its flat line for the week. Similarly, the major European bourses are all trading higher this morning, with Germany's DAX (+1.2%) showing particular strength.

Congress passed a two-week stopgap spending bill on Thursday evening, extending the government's funding until December 22 and putting off worries of a government shutdown for the time being. The last spending bill was set to expire at 12:01 a.m. ET Saturday morning.

On the data front, the Employment Situation Report for November will be released this morning at 8:30 ET. The Briefing.com consensus estimate expects the report 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 economic growth amid low inflation for some time.

In addition, both 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) will be released at 10:00 ET.

U.S. Treasuries are trading roughly flat ahead of the economic releases, with the benchmark 10-yr yield unchanged at 2.38%. Bonds had a rough outing on Thursday, pushing yields higher across the curve. For the week, the 10-yr yield is up two basis points.

The S&P 500 enters Friday's session with a week-to-date loss of 0.2%.

In U.S. corporate news:

Alexion Pharmaceuticals (ALXN 115.45, +8.67): +8.1% after the New York Times reported that Elliot Management has urged the company to do more to lift its stock price.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mostly higher note. Japan's Nikkei +1.4%, Hong Kong's Hang Seng +1.2%, China's Shanghai Composite +0.6%, India's Sensex +0.9%.
In economic data:
China's November trade surplus $40.21 billion (expected surplus of $35.00 billion; last surplus of $38.19 billion). November Imports +17.7% year-over-year (consensus 11.3%; last 17.2%) and November Exports +12.3% year-over-year (consensus 5.0%; last 6.9%)
Japan's Q3 GDP +0.6% quarter-over-quarter (expected 0.4%; last 0.3%); +2.5% year-over-year (consensus 1.5%; last 1.4%). October Current Account JPY2.44 trillion (expected surplus of JPY1.93 trillion; last surplus of JPY1.84 trillion). November Bank Lending +2.7% year-over-year (consensus 2.8%; last 2.8%). November Economy Watchers Current Index 55.1 (expected 52.3; last 52.2)
Australia's October Home Loans -0.6% month-over-month (expected -1.8%; last -2.5%). October Invest Housing Finance +1.6% month-over-month (last -6.2%)
In news:
China reported better than expected trade figures for November, underpinning overall investor sentiment.
Reports in Chinese press noted that People's Bank of China regulators are cracking down on unlicensed payment companies. Separate reports revealed that the PBoC held meetings with major commercial banks amid the recent weakness in the Chinese bond market.
Samsung Heavy Industries remained pressured in South Korea after issuing a profit warning on Wednesday.

Major European indices trade in the green with Italy's MIB (+1.3%) displaying relative strength. France's CAC +0.4%, UK's FTSE +0.7%, Germany's DAX +1.2%.
In economic data:
Germany's October trade surplus EUR19.90 billion (expected surplus of EUR21.80 billion; last surplus of EUR21.90 billion). October Imports +1.8% month-over-month (expected 1.1%; last -1.1%) and October Exports -0.4% month-over-month (expected 1.0%; last -0.4%)
France's October Industrial Production +1.9% month-over-month (expected -0.1%; last 0.8%)
UK's October Industrial Production 0.0% month-over-month, as expected (last 0.7%); +3.6% year-over-year (consensus 3.5%; last 2.5%). October Construction Output -1.7% month-over-month (expected 0.4%; last -1.6%); -0.2% year-over-year (consensus 1.9%; last 1.1%). October Manufacturing Production +0.1% month-over-month (expected -0.1%; last 0.7%); +3.9% year-over-year, as expected (last 2.7%). October trade deficit GBP10.78 billion (expected deficit of GBP11.45 billion; last deficit of GBP10.45 billion)
In news:
British Prime Minister Theresa May announced alongside European Commission President Jean-Claude Juncker that enough progress was made in Brexit talks to begin discussing future trade. Britain will pay as much as GBP39 billion to complete the separation and there will be no hard border between Ireland and Northern Ireland.
In Germany, SPD voted to begin coalition talks with Chancellor Angela Merkel's CDU/CSU, but an agreement is not expected to be struck swiftly.

06:14AM ET

[BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +21.50.
06:14AM ET

[BRIEFING.COM] Nikkei...22,811.08...+313.10...+1.40%

Hang Seng...28,639.85...+336.70...+1.20%

06:14AM ET

[BRIEFING.COM] FTSE...7,338.60...+17.80...+0.20%

DAX...13,216.77...+173.30...+1.30%

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

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