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 Post subject: December 20th Wednesday Trade Results - Profits $4587.50
PostPosted: Wed Dec 20, 2017 7:18 pm 
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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
Review of TheStrategyLab: http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Telephone: +1 708 572-4885
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)

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122017-wrbtrader-Price-Action-Trading-Broker-PnL-Statement-Profit+4587.50.png [ 97.08 KiB | Viewed 524 times ]

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

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $4,587.50 dollars or +91.75 points, Light Crude Oil CL ($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 @ $4,587.50 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=2722

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...review of TheStrategyLab is that this is not a signal calling chat room nor is this a live trading room that has a head trader telling you what to do. I'm the moderator (I keep the peace between members) and my own live trades are posted within 3.2 seconds on average after the trade confirmation in my broker trade execution platform via an auto script to minimize delays in posting of my trades. You can review today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility...all key concepts from the WRB Analysis free study guide even though the free chat room is not design to be an education chat room because the education is only performed at the forums in the private threads.

Quote:
2017 has been the most difficult trading year since I've begun trading +25 years ago because successful trading involves more than just trade methods than any other trading year. This is a key concept many traders have difficulties in understanding. Some blame it on algorithms while I blame it on the inability to adapt, failure to backtest, failure to document trades (real-money or simulator) and underestimating how our environment influences our cognitive decision making while trading...all while trading in low volatility market conditions that statistically have the reputation for difficult trading.

Image ##TheStrategyLab Chat Room is free. The free chat room is not a signal calling trading room nor is it a live trading room with a head trader even though members of the chat room are posting their trades & market analysis in real-time. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of TheStrategyLab free chat room is for you to use as your trade journal so that you can use as valuable feedback about your own trading and for members to help each other...as in more eyes on the market. In addition, we highly recommend that you use the free chat room with a professional trade journal software like tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because they can provide you with the quantitative statistical analysis of your trading. You can then download your results and post them in your private thread at the forum.

Also, you can use TheStrategyLab free chat room to ask real-time WRB Analysis questions. Yet, please do not post your quantitative statistical analysis, brokerage statements in the free chat room. Instead, its highly recommended that you only post that particular information in your private thread for security reasons. Yet, if you want to post that type of information at another website, blog or chat room...that's your choice.

TheStrategyLab free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages, many different mobile apps, many different types of social media software can be used to log in along with IRC being easier to moderate via script codes when trouble makers, spammers and trolls show up. I'm the moderator of the free chat room via the user name wrbtrader. Thus, I keep the peace between members without hesitation in removing problematic traders so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled or harassed.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell nor do we allow the free chat room to be used for mentoring because we do not offer a mentoring service. The purpose of TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. If you join the free chat room and then you decide to not post any WRB Analysis about the price action or you decide to not post your trades or you decide to be silent (lurk without saying a word about today's markets)...you're not using the free chat room properly to help improve your trading.

In fact, we do not want silent (lurkers) traders to join the free chat room unless they are actively posting at the forum about their trading after the markets close. Access instructions for the free chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Yet, I'm always backtesting new concepts of WRB Analysis, new trade entry rules, new trade management rules, new position size management rules before application in real money trades (small position size trades) to adapt to changed market conditions prior to large position size trades or sharing the new concepts with fee-base clients...living up to the name of my website. TheStrategyLab.

Also, posted below for you to review are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=335&t=3584 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini RTY futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives for easy review to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker PnL statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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

The Market at 04:20PM ET
Dow: -28.10… | Nasdaq: -2.89… | S&P: -2.22…
NASDAQ Vol: 1.86 bln… Adv: 1406… Dec: 1332…
NYSE Vol: 776.5 mln… Adv: 1462… Dec: 1463…

Moving the Market

Senate approves the GOP's tax reform bill in a party-line vote

Energy shares rally amid an increase in the price of crude oil

Sector Watch
Strong: Industrials, Energy, Telecom Services
Weak: Consumer Staples, Utilities, Real Estate

04:20PM ET

[BRIEFING.COM] U.S. equities ticked lower on Wednesday as investors contemplated their next move following the passage of tax reform.

The S&P 500 (-0.1%), the Nasdaq Composite (unch), and the Dow Jones Industrial Average (-0.1%) each finished a tick below their flat lines. Small caps outperformed, evidenced by the Russell 2000, which ended the day higher by 0.2%.

The Senate passed the GOP's tax reform bill shortly after midnight, giving equities a boost at Wednesday's opening bell. However, the early gains didn't last for long as the technology sector (-0.1%) began trending downwards, with Red Hat (RHT 122.00, -6.86) pacing the retreat. RHT finished lower by 5.3% despite reporting above-consensus earnings and revenues.

Technology shares eventually trimmed their losses a bit, thanks in large part to the outperformance of chipmakers, which pushed the PHLX Semiconductor Index higher by 0.7%. Micron (MU 45.75, +1.77) led the semiconductor rally, adding 4.0%, after beating both profit and sales estimates and issuing upbeat guidance for the current quarter.

Congress came back into focus in the early afternoon as the House of Representatives took up tax reform, once again, as procedural rules in the Senate forced minor changes to the bill, nullifying yesterday's passage in the House. The measure was approved, as expected, sending the bill to the White House for a final endorsement.

President Trump likely won't sign the bill into law before the new year as the White House's review process typically takes about seven business days to complete. Regardless, tax reform, which has been a significant factor in this year's equity rally, is essentially a done deal.

Back on Wall Street, the energy sector (+1.4%) had a positive showing, extending its week-to-date gain to 2.2%. West Texas Intermediate crude futures advanced 0.9% to $58.08 per barrel, helping to fuel the energy rally, after the Energy Information Administration reported a draw of 6.5 million barrels for the week ended December 15.

The energy space's advance more than doubled the gain of the second-best performing group--telecom services (+0.6%). AT&T (T 38.55, +0.50) carried the lightly-weighted telecom group, adding 1.3%, after reaffirming its plans to invest an additional $1 billion in the U.S. next year in light of the new tax code.

The industrial space (+0.3%) also outperformed, underpinned by transports, which rallied around FedEx's (FDX 251.07, +8.53) better-than-expected earnings report and upbeat guidance. FDX shares added 3.5%, settling at a new all-time high, while the Dow Jones Transportation Average advanced 0.9%--also finishing at a new record.

On the flip side, the utilities and real estate sectors were the weakest groups, losing 0.8% and 1.1%, respectively. No other sector lost more than 0.4%.

In the bond market, U.S. Treasuries finished mostly lower in a curve-steepening trade that pushed the 2yr-10yr spread higher by five basis points. The yield on the benchmark 10-yr Treasury note climbed four basis points to 2.50%, which marks a nine-month high, while the 2-yr yield slipped one basis point to 1.85%.

Elsewhere, equity indices in the Asia-Pacific region finished Wednesday little changed, while the Euro Stoxx 50 settled with a loss of 0.9%.

Reviewing Wednesday's economic data, which included November Existing Home Sales and the weekly MBA Mortgage Applications Index:

Existing home sales increased 5.6% in November to an annualized rate of 5.81 million units (Briefing.com consensus 5.56 million). The October reading was revised to 5.50 million from 5.48 million.
The key takeaway from the report is that notable supply constraints remain, which will continue to act as a drag on overall sales due to the limited inventory and the high prices on available inventory that is crimping affordability, particularly for first-time buyers.
The weekly MBA Mortgage Applications Index decreased 4.9% to follow last week's 2.3% decline.

On Thursday, investors will receive the third estimate of third quarter GDP (Briefing.com consensus +3.3%), the Philadelphia Fed Index for December (Briefing.com consensus 21.0), and weekly Initial Claims (Briefing.com consensus 236K) at 8:30 ET, followed by the October FHFA Housing Price Index (Briefing.com consensus +0.4%) and the November Leading Economic Index (Briefing.com consensus +0.4%), which will cross the wires at 9:00 ET and 10:00 ET, respectively.

Nasdaq Composite +29.3% YTD
Dow Jones Industrial Average +25.1% YTD
S&P 500 +19.7% YTD
Russell 2000 +13.5% YTD

Dow: -28.10… | Nasdaq: -2.89… | S&P: -2.22…

NASDAQ Adv/Dec 1406/1332. …NYSE Adv/Dec 1462/1463.

03:35PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.55% at 85.0521
Dollar index is currently up 0% at 93.44
Jan WTI Crude is up 0.9% on the day.
EIA Crude oil inventories had a draw of 6.5 mln barrels
Futures settle $0.52 higher to $58.08/barrel.
In other energy, Jan Natural Gas settled down $0.05 at $2.64/MMBtu
On the metals:
Feb Gold gained $5.5 to settle at $1269.7/oz, while Mar silver gained $0.13 to $16.28/oz
Mar Copper gained $0.05 to $3.2/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.49/bu.
Jan Soy settled down $0.01 at $9.53/bu.
Mar wheat settled flat at $4.24/bu.

Dow: -16.15… | Nasdaq: +0.89… | S&P: -0.2…

NASDAQ Adv/Dec 1565/1245. …NYSE Adv/Dec 1556/1369.

02:55PM ET

[BRIEFING.COM] Stocks have slipped in recent action, pulling the S&P 500 (-0.1%) into negative territory.

President Trump is scheduled to begin a press conference at 3:00 PM ET, during which he will likely set a date for signing the GOP's tax reform bill into law. Both the House of Representatives and the Senate have approved the measure, leaving Mr. Trump's signature as the only remaining step to passage.

On the earnings front, Bed Bath & Beyond (BBBY 24.33, +0.36) will report following today's closing bell. Accenture (ACN 152.50, +0.28), ConAgra (CAG 38.18, +0.20), CarMax (KMX 68.39, +0.54), and Finish Line (FINL 11.76, -0.04) will deliver their quarterly results on Thursday morning.

Dow: -43.72… | Nasdaq: -2.82… | S&P: -1.65…

NASDAQ Adv/Dec 1561/1255. …NYSE Adv/Dec 1578/1328.

02:25PM ET

[BRIEFING.COM] Equity indices have not shifted since the last update.

The S&P 500's energy sector (+1.3%) has climbed to a fresh session high this afternoon, helped by an increase in the price of crude oil; WTI crude futures are up 0.9% at $58.06 per barrel--their best level in more than two weeks. Exxon Mobil (XOM 83.00, +0.56) and Chevron (CVX 121.09, +1.26) sport respective gains of 0.7% and 1.1%.

Today's advance extends the energy sector's week-to-date gain to 2.1%, which far exceeds the S&P 500's weekly advance of 0.3%. Still, the energy space trades alongside the telecom services group at the bottom of the 2017 sector standings with a year-to-date loss of 6.3%. The S&P 500 has jumped 19.8% year to date.

Dow: -3.95… | Nasdaq: +4.16… | S&P: +0.75…

NASDAQ Adv/Dec 1620/1189. …NYSE Adv/Dec 1660/1254.

01:55PM ET

[BRIEFING.COM] Equity indices hold slim gains this afternoon, with the S&P 500 adding 0.1%.

Seven sectors are trading in the green--energy (+1.1%), telecom services (+0.9%), industrials (+0.5%), materials (+0.4%), financials (+0.1%), consumer discretionary (unch), and technology (unch)--while four are trading in the red--health care (-0.1%), consumer staples (-0.5%), utilities (-0.6%), and real estate (-0.7%).

In the bond market, U.S. Treasuries are mostly lower, pushing the benchmark 10-yr yield higher by three basis points to 2.49%.

Dow: +17.24… | Nasdaq: +7.05… | S&P: +2.11…

NASDAQ Adv/Dec 1690/1122. …NYSE Adv/Dec 1678/1222.

01:25PM ET

[BRIEFING.COM] The major U.S. indices are trading a tick above their flat lines this afternoon.

A look inside the Dow Jones Industrial Average shows that Intel (INTC 47.44, +0.41) and Caterpillar (CAT 152.17, +1.26) are among the strongest performers. Intel is trading alongside other chipmakers, which have been upbeat following Micron's (MU 45.91, +1.93) better-than-expected earnings report.

Conversely, General Electric (GE 17.43, -0.16) and Walt Disney (DIS 110.87, -0.93) are the weakest Dow components, losing around 0.9% apiece.

For the week, the DJIA is higher by 0.5%.

Dow: +19.19… | Nasdaq: +7.59… | S&P: +2.88…

NASDAQ Adv/Dec 1628/1189. …NYSE Adv/Dec 1656/1222.

01:05PM ET

[BRIEFING.COM] Stocks are little changed as investors contemplate their next move following the Senate's vote on tax reform.

All three major averages--the S&P 500, the Nasdaq, and the Dow--trade near their flat lines, while the Russell 2000 sports a gain of 0.3%.

The equity market began the day modestly higher after the Senate approved the GOP's tax reform bill overnight in a party-line vote. However, equities quickly retraced their opening gains and have been drifting at, or slightly below, their flat lines for the vast majority of the session.

Due to a procedural snag in the Senate, the House of Representatives had to re-vote on tax reform today. However, there wasn't much concern about passage as the House approved the bill by a comfortable margin on Tuesday. Just in, the House approved the bill.

President Trump is scheduled to hold a press conference at 3:00 PM ET, during which he will likely set a date for signing the bill into law. The White House review process usually takes about seven business days, meaning that the bill probably won't be approved before the new year.

Seven of eleven sectors are trading in the red this afternoon, but losses are pretty modest overall. The lightly-weighted utilities (-0.6%) and real estate (-0.6%) groups are the weakest sectors, followed closely by the consumer staples group (-0.5%).

The top-weighted technology sector struggled early in the session, with Red Hat (RHT 121.11, -7.75) showing particular weakness despite reporting better-than-expected earnings and revenues on Tuesday evening; RHT shares are down 6.1%.

However, the tech space has since trimmed its loss to 0.1% from 0.6%, thanks in part to the outperformance of chipmakers, which have sent the PHLX Semiconductor Index higher by 0.8%. Micron (MU 45.97, +1.99) is leading the semiconductor advance, adding 4.6%, after beating both top and bottom line estimates and issuing upbeat guidance.

The telecom services group (+1.2%) is the top-performing sector, followed closely by the energy space (+0.9%), which is benefiting from an increase in the price of crude oil; WTI crude futures are up 0.7% at $57.96 per barrel. On a related note, the Energy Information Administration reported that U.S. crude oil inventories declined by 6.5 million barrels last week.

In the bond market, U.S. Treasuries are retreating once again today, pushing yields into positive territory. The benchmark 10-yr yield is up two basis points at 2.48%, which marks its best level since late March. Meanwhile, the 2-yr yield is flat at 1.86%.

Elsewhere, equity indices in the Asia-Pacific region finished Wednesday little changed, while the Euro Stoxx 50 closed with a loss of 0.9%.

Reviewing Wednesday's economic data, which included November Existing Home Sales and the weekly MBA Mortgage Applications Index:

Existing home sales increased 5.6% in November to an annualized rate of 5.81 million units (Briefing.com consensus 5.56 million). The October reading was revised to 5.50 million from 5.48 million.
The key takeaway from the report is that notable supply constraints remain, which will continue to act as a drag on overall sales due to the limited inventory and the high prices on available inventory that is crimping affordability, particularly for first-time buyers.
The weekly MBA Mortgage Applications Index decreased 4.9% to follow last week's 2.3% decline.

Dow: +2.50… | Nasdaq: -3.25… | S&P: +0.08…

NASDAQ Adv/Dec 1563/1252. …NYSE Adv/Dec 1638/1227.

12:25PM ET

[BRIEFING.COM] Equity indices are floating near their unchanged marks this afternoon.

The major European bourses finished Wednesday in negative territory, with Germany's DAX (-1.1%) leading the retreat. The performance followed a mixed outing in the Asia-Pacific region, where Japan's Nikkei ticked up 0.1%, while Hong Kong's Hang Seng and China's Shanghai Composite lost 0.1% and 0.3%, respectively.

In the currency market, the U.S. dollar is down 0.3% against the euro at 1.1876 and 0.1% against the British pound at 1.3403. Conversely, the greenback is up 0.3% against the Japanese yen at 113.25.

Dow: +16.20… | Nasdaq: -1.68… | S&P: +0.97…

NASDAQ Adv/Dec 1542/1244. …NYSE Adv/Dec 1626/1216.

12:00PM ET

[BRIEFING.COM] The major averages have ticked higher in recent action, pushing the S&P 500 back to its flat line.

Chipotle Mexican Grill (CMG 303.50, -9.57) has moved sharply lower in recent trading following a Business Insider story that officials are investigating new reports of an illness outbreak tied to a Chipotle restaurant in Los Angeles. CMG shares were up 0.7% ahead of the story, but now trade lower by 3.1%.

The national burrito chain has dealt with numerous reports of food safety issues since an E. coli outbreak in July 2015 that was traced to a Chipotle location in Seattle. CMG shares have lost around 60.0% of their value since that incident.

Dow: +4.47… | Nasdaq: -9.84… | S&P: -0.58…

NASDAQ Adv/Dec 1515/1284. …NYSE Adv/Dec 1578/1260.

11:25AM ET

[BRIEFING.COM] Stocks continue trending sideways, leaving the S&P 500 lower by 0.1%.

Transports are strong today, pushing the Dow Jones Transportation Average higher by 0.8%, following FedEx's (FDX 248.58, +6.04) earnings release. The shipping company beat both earnings and revenue estimates for its fiscal second quarter and issued upbeat profit guidance for fiscal year 2018; FDX shares are up 2.5%.

Meanwhile, the S&P 500's industrial sector, which houses transportation names, sports a gain of 0.4%. Within the group, Dow components General Electric (GE 17.45, -0.14) and 3M (MMM 237.56, -0.82) exhibit relative weakness, losing 0.7% and 0.4%, respectively.

Dow: +2.74… | Nasdaq: -18.47… | S&P: -1.20…

NASDAQ Adv/Dec 1452/1325. …NYSE Adv/Dec 1571/1250.

11:00AM ET

[BRIEFING.COM] The major stock indices are trading modestly lower this morning, with the S&P 500 showing a loss of 0.1%.

Six of eleven sectors are trading in the red. Of those six, the top-weighted technology sector (-0.5%) is one of the weakest performers, with Red Hat (RHT 121.37, -7.49) losing 5.9% despite reporting better-than-expected earnings and revenues on Tuesday evening.

The consumer staples sector (-0.6%) also shows relative weakness. Within the group, tobacco giant Philip Morris (PM 104.72, -2.33) is down 2.2% following a Reuters report that the FDA is weighing whether to approve the company's iQOS smoking device.

Also of note, the Energy Information Administration reported that U.S. crude oil inventories declined by 6.5 million barrels last week. WTI crude futures haven't changed much following the release and are currently up 0.2% at $57.69 per barrel.

Dow: -5.72… | Nasdaq: -18.27… | S&P: -2.58…

NASDAQ Adv/Dec 1385/1391. …NYSE Adv/Dec 1477/1309.

10:30AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 84.58
Dollar index is currently flat at 93.44
Jan WTI crude is up 0.33% on the day.
Futures are $0.19 higher to $57.75/barrel.
In other energy, Jan natural gas is down $0.06 at $2.63/MMBtu
Metals:
Feb gold gained $3 and trades at $1267.2/oz, while Mar silver gained $0.09 to $16.24/oz
Mar copper gained 0.05 to $3.2/lb
Finally, agriculture:
Mar corn is unchanged at $3.48/bu.
Jan soy is down $0.01 at $9.5525/bu.
Mar wheat is up $0.03 at $4.23/bu.

10:00AM ET

[BRIEFING.COM] Equity indices have given back their opening gains this morning, leaving the S&P 500 at its unchanged mark.

Just in, existing home sales increased 5.6% in November to an annualized rate of 5.81 million units (Briefing.com consensus 5.56 million). The October reading was revised to 5.50 million from 5.48 million.

Dow: +21.66… | Nasdaq: -15.14… | S&P: +0.63…

NASDAQ Adv/Dec 1526/1144. …NYSE Adv/Dec 1507/1187.

09:40AM ET

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

Most sectors are trading in the green this morning, with the heavily-weighted financials space (+0.6%) being among the top-performing sectors. The industrial group (+0.5%) also shows relative strength as transports outperform; the Dow Jones Transportation Average is up 0.9%.

As a reminder, Existing Home Sales for November (Briefing.com consensus 5.56 million) will be released at 10:00 AM ET.

Dow: +56.10… | Nasdaq: +16.26… | S&P: +6.30…

NASDAQ Adv/Dec 1868/753. …NYSE Adv/Dec 1767/857.

09:12AM ET

[BRIEFING.COM] S&P futures vs fair value: +9.80. Nasdaq futures vs fair value: +24.90.

The U.S. equity market is on track to open today's session in the green, with the S&P 500 futures trading 10 points, or 0.4%, above fair value.

Investors are cheering tax reform once again this morning after the Senate passed the GOP's tax overhaul bill 51-48 shortly after midnight. The House of Representatives passed the measure on Tuesday afternoon, but will have to re-vote today due to some procedural issues in the Senate.

The House is expected to approve the bill at around 12:00 PM ET, and President Trump is scheduled to hold a press conference shortly thereafter.

In corporate news, Micron Technology (MU 46.80, +2.82) is higher by 6.4% in pre-market trading after reporting better-than-expected earnings and revenues for its fiscal first quarter and issuing above-consensus profit and sales guidance for the current quarter.

FedEx (FDX 248.86, +6.32) is also in the green (+2.6%) following its better-than-expected earnings report, while Red Hat (RHT 125.77, -3.09) is lower by 2.4% despite reporting above-consensus earnings and revenues and raising its top and bottom line estimates for the current quarter.

U.S. Treasuries have extended yesterday's losses this morning, pushing yields higher across the curve. The benchmark 10-yr yield is up three basis points at 2.49%--its best level since March--after jumping seven basis points on Tuesday. The 2-yr yield is up one basis point at 1.87%.

Meanwhile, West Texas Intermediate crude futures are up 0.4% at $57.83 per barrel after the American Petroleum Institute reported a draw of 5.2 million barrels in U.S. crude stockpiles for the week ended December 15. The official government inventory report will cross the wires at 10:30 AM ET.

On the data front, investors will receive Existing Home Sales for November (Briefing.com consensus 5.56 million) at 10:00 AM ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +9.50. Nasdaq futures vs fair value: +25.60.

The S&P 500 futures trade 10 points, or 0.4%, above fair value.

Equity indices in the Asia-Pacific region ended Wednesday on a mixed note. U.S. officials have reportedly given a draft of new sanctions on North Korea to their Chinese counterparts. Meanwhile, South Korea's President Moon Jae-in said that joint military drills with U.S. forces may be delayed in hopes of easing tensions on the peninsula. China Academy of Social Sciences expects 2017 GDP at 6.8% while growth in 2018 is expected to decelerate slightly to 6.7%. There was continued speculation about China finding ways of responding to tax cuts in the U.S.

In economic data:
Japan's All Industries Activity Index +0.3% month-over-month (expected 0.4%; last -0.5%)
New Zealand's Q3 Current Account -NZD7.10 billion year-over-year (expected deficit of NZD6.90 billion; last deficit of NZD7.49 billion). November Imports NZD5.82 billion (expected NZD5.10 billion; last NZD5.43 billion) and Exports NZD4.63 billion (expected NZD4.61 billion; last NZD4.56 billion). November trade deficit NZD3.44 billion year-over-year (expected deficit of NZD2.70 billion; last deficit of NZD2.97 billion)
Australia's MI Leading Index +0.1% month-over-month (last 0.1%)

---Equity Markets---

Japan's Nikkei added 0.1%. Okuma, Sumitomo Metal Mining, Showa Denko, Alps Electric, Furukawa, Nippon Sheet Glass, Pacific Metals, Isuzu Motors, Toho Zinc, JTEKT, and Yokohama Rubber gained between 2.0% and 3.6%.
Hong Kong's Hang Seng shed 0.1%. Financials underperformed with China Life Insurance, AIA Group, Ping An Insurance, ICBC, and Bank of China falling between 0.3% and 1.2%. On the upside, consumer names Want Want China and China Mengniu Dairy gained 5.7% and 5.3%, respectively. China Mengniu Dairy will be among the sponsors of the 2018 World Cup.
China's Shanghai Composite slipped 0.3%. Wuhan Xianglong Power Industry, Inner Mongola Eerduosi Resources, Fangda Special Steel Technology, and Anhui Expressway posted losses between 4.2% and 5.2%.
India's Sensex shed 0.2% amid losses in half of its components. Dr. Reddy's Labs, Tata Steel, HDFC Bank, and SBI lost between 0.7% and 1.8%. Tech consultants like Tata Consultancy, Infosys, and Wipro gained between 0.5% and 1.5%.

Major European indices trade near their flat lines while Spain's IBEX (-0.5%) displays relative weakness. The Catalan parliamentary election will take place tomorrow, but concerns about the ability to form a government are already present, considering seven parties are expected to win seats. Sweden's Riksbank did not extend its QE program, but noted that front-loading of reinvestments means that purchases will continue into early 2019. The European Union triggered Article 7 of the Lisbon Treaty, accusing Poland of undermining EU values by taking a hardline stance against accepting migrants and refugees. While Poland is not a member of the eurozone, this step puts Brussels on a collision course with other member states (Hungary, Czech Republic, and Austria) who have resisted or flat-out refused to accept their assigned share of migrants and refugees.

In economic data:
Eurozone October Current Account surplus EUR30.80 billion (expected surplus of EUR33.40 billion; last surplus of EUR39.20 billion)
Germany's November PPI +0.1% month-over-month (expected 0.2%; last 0.3%); +2.5% year-over-year (consensus 2.6%; last 2.7%)
UK's December CBI Distributive Trades Survey 20 (expected 20; last 26)

---Equity Markets---

UK's FTSE trades flat. Miners like Rio Tinto, Anglo American, Antofagasta, BHP Billiton, and Fresnillo sport gains between 0.4% and 1.2% while consumer names like Whitbread, InterContinental Hotels, Paddy Power, Kingfisher, and Burberry are up between 0.2% and 0.8%.
France's CAC has shed 0.3% with financials contributing to the losses. Societe Generale, Credit Agricole, BNP Paribas, and AXA are down between 0.4% and 0.8%.
Germany's DAX is also down 0.3%. Heavyweight components like Adidas, Merck, SAP, Bayer, Volkswagen, and Deutsche Bank show losses between 0.2% and 0.9%.
Spain's IBEX is lower by 0.5%. Banco Sabadell, Bankia, Caixabank, and Santander show losses between 0.7% and 0.9%.

08:26AM ET

[BRIEFING.COM] S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +26.10.

The S&P 500 futures trade 10 points, or 0.4%, above fair value.

Micron Technology (MU 47.01, +3.03) is up 7.0% in pre-market trading after reporting better-than-expected earnings and revenues for its previous fiscal quarter. In addition, the company raised its profit and sales guidance for the current quarter. The chipmaker has had an astounding year thus far, adding a little more than 100.0% year to date.

However, it's worth pointing out that Micron hit a slump after touching its best level in over a decade at the end of November, losing 19.7% between November 24 and December 4. At its current price in pre-market trading, the company still remains about 5.4% below its November high.

07:57AM ET

[BRIEFING.COM] S&P futures vs fair value: +9.50. Nasdaq futures vs fair value: +24.10.

Stocks look poised to return to record territory this morning after the U.S. Senate voted 51-48 in favor of the GOP's tax reform bill shortly after midnight. The S&P 500 futures are trading 10 points, or 0.4%, above fair value.

The House of Representatives passed the tax overhaul bill on Tuesday afternoon, but will have to vote again today due to some procedural issues in the Senate. The House is expected to approve the measure once again, leaving the president's signature as the only remaining step to passage.

President Trump will hold a press conference shortly after the House vote, which is scheduled for 12:00 PM ET.

U.S. Treasuries are roughly flat this morning after moving solidly lower in a curve-steepening trade on Tuesday. The yield on the benchmark 10-yr Treasury note is up one basis point at 2.47%, while the 2-yr yield is unchanged at 1.86%. The two yields jumped seven and three basis points, respectively, on Tuesday.

Meanwhile, West Texas Intermediate crude futures are up 0.3% at $57.75 per barrel after the American Petroleum Institute reported a draw of 5.2 million barrels in U.S. crude stockpiles for the week ended December 15. The official government inventory report will cross the wires at 10:30 AM ET.

On the data front, investors will receive Existing Home Sales for November (Briefing.com consensus 5.56 million) at 10:00 AM ET. The weekly MBA Mortgage Applications Index was released earlier this morning, showing a decline of 4.9%. Last week, the index slipped 2.3%.

Elsewhere, equity indices in the Asia-Pacific region finished Wednesday little changed, while the Euro Stoxx 50 is currently down 0.3%.

In U.S. corporate news:

FedEx (FDX 248.77, +6.23): +2.6% after reporting better-than-expected earnings and revenues and issuing upbeat profit guidance for 2018.
Red Hat (RHT 124.08, -4.78): -3.7% despite reporting upbeat earnings and revenues and raising its top and bottom line estimates for the current quarter.
Micron (MU 47.13, +3.15): +7.2% after beating both top and bottom line estimates and raising its earnings and revenue guidance for the current quarter.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a mixed note. Japan's Nikkei +0.1%, Hong Kong's Hang Seng -0.1%, China's Shanghai Composite -0.3%, India's Sensex -0.2%.
In economic data:
Japan's All Industries Activity Index +0.3% month-over-month (expected 0.4%; last -0.5%)
New Zealand's Q3 Current Account -NZD7.10 billion year-over-year (expected deficit of NZD6.90 billion; last deficit of NZD7.49 billion). November Imports NZD5.82 billion (expected NZD5.10 billion; last NZD5.43 billion) and Exports NZD4.63 billion (expected NZD4.61 billion; last NZD4.56 billion). November trade deficit NZD3.44 billion year-over-year (expected deficit of NZD2.70 billion; last deficit of NZD2.97 billion)
Australia's MI Leading Index +0.1% month-over-month (last 0.1%)
In news:
U.S. officials have reportedly given a draft of new sanctions on North Korea to their Chinese counterparts. Meanwhile, South Korea's President Moon Jae-in said that joint military drills with U.S. forces may be delayed in hopes of easing tensions on the peninsula.
China Academy of Social Sciences expects 2017 GDP at 6.8% while growth in 2018 is expected to decelerate slightly to 6.7%.
There was continued speculation about China finding ways of responding to tax cuts in the U.S.

Major European indices trade near their flat lines while Spain's IBEX (-0.7%) displays relative weakness. UK's FTSE unch, France's CAC -0.2%, Germany's DAX -0.2%.
In economic data:
Eurozone October Current Account surplus EUR30.80 billion (expected surplus of EUR33.40 billion; last surplus of EUR39.20 billion)
Germany's November PPI +0.1% month-over-month (expected 0.2%; last 0.3%); +2.5% year-over-year (consensus 2.6%; last 2.7%)
UK's December CBI Distributive Trades Survey 20 (expected 20; last 26)
In news:
The Catalan parliamentary election will take place tomorrow, but concerns about the ability to form a government are already present, considering seven parties are expected to win seats.
Sweden's Riksbank did not extend its QE program, but noted that front-loading of reinvestments means that purchases will continue into early 2019.
The European Union triggered Article 7 of the Lisbon Treaty, accusing Poland of undermining EU values by taking a hardline stance against accepting migrants and refugees. While Poland is not a member of the eurozone, this step puts Brussels on a collision course with other member states (Hungary, Czech Republic, and Austria) who have resisted or flat-out refused to accept their assigned share of migrants and refugees.

06:29AM ET

[BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +19.00.
06:29AM ET

[BRIEFING.COM] Nikkei...22891.72...+23.70...+0.10%

Hang Seng...29234.09...-19.60...-0.10%

06:29AM ET

[BRIEFING.COM] FTSE...7531.85...-12.20...-0.20%

DAX...13187.78...-28.40...-0.20%

04:15PM ET

[BRIEFING.COM] U.S. equities slipped from record highs on Tuesday as investors cautiously awaited the Senate's vote on tax reform.

The major indices held modest losses throughout most of the session, and a late wave of selling left them near their session lows. The Dow Jones Industrial Average lost 0.2%, the S&P 500 declined by 0.3%, and the tech-heavy Nasdaq dropped 0.4%. Small caps underperformed, sending the Russell 2000 lower by 0.8%.

Tuesday's main event was the House's vote on tax reform, which took place at around 2:30 PM ET. The House passed the GOP's bill, as expected, in a party-line vote. The bill will now go to the Senate, where it will have a more narrow path to passage as the GOP has just a two-vote majority in the upper house. Still, the measure is expected to pass.

The Senate began the ten hours of required debate on the bill shortly before the closing bell, putting a final vote on track for early Wednesday morning.

Most sectors finished Tuesday in negative territory, a reverse of Monday's session. The utilities (-1.8%) and real estate (-1.9%) groups paced the retreat, but it was the top-weighted technology space (-0.5%) that had the most bearish impact on the broader market.

Tech shares were broadly weak, but Apple (AAPL 174.54, -1.88) showed particular weakness after Nomura downgraded the tech giant's shares to 'Neutral' from 'Buy' on Tuesday morning; AAPL shares ended the day lower by 1.1%. Chipmakers outperformed their tech peers, but still pulled the PHLX Semiconductor Index lower by 0.1%.

On the upside, the consumer staples sector (+0.2%) bounced back from a relatively poor outing on Monday. The group's largest component by market cap--Wal-Mart (WMT 98.80, +0.90)--was among the top performers, adding 0.9%, after Citigroup upgraded WMT shares to 'Buy' from 'Neutral.'

Corporate news was pretty light on Tuesday, but it's worth pointing out that Darden Restaurants (DRI 96.69, +6.15)--the owner of chains like Olive Garden and LongHorn Steakhouse--jumped 6.8% after reporting better-than-expected earnings and revenues for its fiscal second quarter. The company also raised its guidance for 2018.

In the bond market, U.S. Treasuries sold off on Tuesday, with longer-dated issues showing relative weakness. The yield on the 2-yr Treasury note climbed three basis points to 1.86%, while the benchmark 10-yr yield jumped seven basis points to 2.46%--its best level in two months. The 2yr-10yr spread hit a fresh December high (60 bps).

Elsewhere, equity indices in the Asia-Pacific region finished Tuesday mostly higher, while the major European bourses ended on a mostly lower note. Japan's Nikkei (-0.2%) exhibited relative weakness in Asia and the UK's FTSE (+0.1%) outperformed its peers across the pond.

Reviewing Tuesday's economic data, which included November Housing Starts, November Building Permits, and the Current Account Balance for the third quarter:

Housing starts increased to a seasonally adjusted annualized rate of 1.297 million units in November (Briefing.com consensus 1.259 million), up from a revised 1.256 million units in October (from 1.290 million). Building permits decreased to a seasonally adjusted 1.298 million in November (Briefing.com consensus 1.280 million) from a revised 1.316 million in October (from 1.297 million).
The key takeaway from the report is that there was a 1.4% increase in permits for single-family homes and a 5.3% increase in single-family starts, as that is where supply growth is greatly needed to meet home buyer demand.
The current account deficit for the third quarter totaled $100.6 billion (Briefing.com consensus -$117.4 billion). The second quarter deficit was revised to $124.4 billion from $123.1 billion.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index and November Existing Home Sales (Briefing.com consensus 5.56 million). The two reports will be released at 7:00 ET and 10:00 ET, respectively.

Nasdaq Composite +29.4% YTD
Dow Jones Industrial Average +25.3% YTD
S&P 500 +19.8% YTD
Russell 2000 +13.2% YTD

Dow: -37.45… | Nasdaq: -30.91… | S&P: -8.69…

NASDAQ Adv/Dec 973/1634. …NYSE Adv/Dec 1051/1887.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. Also, thank you for the review of TheStrategyLab performance record via price action trading - no indicators...hopefully the links and data will be useful for you. gm

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

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

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

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


Best Regards,
M.A. Perry
Online user name wrbtrader (more info about me) @ http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading - no indicators
Trader and Founder of WRB Analysis (wide range body/bar analysis)
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