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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: Feb 22nd Thurs Price Action Trade Result - Profit $3562.50
PostPosted: Thu Feb 22, 2018 8:26 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 & http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850
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
Users Reviews, Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Review of TheStrategyLab: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167 & http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
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Telephone: +1 708 572-4885
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Attachment:
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $3,562.50 dollars or +71.25 points, Light Crude Oil CL ($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 @ $3,562.50 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=177&t=2759

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.

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 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=345&t=3659 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.


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

The Market at 04:25PM ET
Dow: +164.70… | Nasdaq: -8.14… | S&P: +2.63…
NASDAQ Vol: 1.91 bln… Adv: 711… Dec: 1345…
NYSE Vol: 835.2 mln… Adv: 1530… Dec: 1411…

Moving the Market

S&P 500 hits resistance at its 50-day simple moving average (2729)

Financials show relative weakness as Treasury yields slide from multi-year highs

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

04:25PM ET

[BRIEFING.COM] The S&P 500 (+0.1%) and the Nasdaq (-0.1%) ended Thursday's session little changed, keeping their weekly losses intact. The Dow, meanwhile, rallied 0.7% to end a two-session losing streak and trim its weekly decline to 1.0%. The S&P 500 also ended a two-session skid on Thursday, while the Nasdaq extended its losing streak to four sessions.

Stocks opened in positive territory and crept higher through the first two hours of trading. However, sentiment started to shift as the S&P 500 approached its 50-day simple moving average (2729). The key technical level proved to be an area of resistance for the benchmark index, which quickly started retracing its gain after topping out at 2731 (+1.1%).

Trading was choppy from there, but the S&P 500 was able to stabilize a bit after finding support at its Wednesday close (2701).

In the end, nine of eleven S&P 500 sectors finished in positive territory, with gains ranging from 0.1% (technology) to 1.1% (real estate and energy).

The energy sector (+1.1%) was among the top-performing groups, helped by an increase in the price of crude oil. WTI crude futures climbed 1.8% to $62.77 per barrel after the Department of Energy reported a draw of 1.6 million barrels for the week ended February 16. The consensus estimate called for a build of 1.8 million barrels.

Chesapeake Energy (CHK 3.20, +0.57) also helped underpin a positive bias within the energy group, rallying 21.7% on better-than-expected Q4 results.

Conversely, the heavily-weighted financial sector (-0.8%) was the weakest group as Treasury yields slipped from multi-year highs; the 10-yr yield settled at 2.92% after closing Wednesday at 2.94%--its highest level in four years. On a related note, a $29 billion 7-yr Treasury note auction drew a high yield of 2.84% on a bid-to-cover of 2.49.

Overseas, equity indices in the Asia-Pacific region finished Thursday mostly lower, although China's Shanghai Composite climbed 2.2% after a week-long closure for the Lunar New Year. Meanwhile, the major European bourses finished roughly flat, with France's CAC (+0.2%) exhibiting relative strength.

In currencies, the U.S. Dollar Index dropped 0.4% to 89.70, marking its first loss in a week. The greenback tumbled 0.4% against the euro (1.2327) and 1.0% against the yen (106.69).

Thursday's batch of economic data was pretty light, with investors receiving just two reports--weekly Initial Claims and Leading Indicators for January:

The latest weekly initial jobless claims count totaled 222,000, while the Briefing.com consensus expected a reading of 233,000. Today's tally was below the revised prior week count of 229,000 (from 230,000). As for continuing claims, they declined to 1.875 million from a revised count of 1.948 million (from 1.942 million).
The key takeaway from this report is that it covers the period in which the survey for the February employment report was completed. The low level of initial claims will most likely drive economists to estimate another decent-sized gain (200K+) for nonfarm payrolls.
The Conference Board Leading Economic Index increased 1.0% in January (Briefing.com consensus 0.8%). The prior month's reading was left unrevised at +0.6%.
The key takeaway from the report is that the uptick was widespread; in fact, there wasn't a negative contribution from any of the ten components.

Investors will not receive any economic data on Friday.

Nasdaq Composite: +4.4% YTD
S&P 500: +1.1% YTD
Dow Jones Industrial Average: +1.0% YTD
Russell 2000: -0.4% YTD

Dow: +164.70… | Nasdaq: -8.14… | S&P: +2.63…
NASDAQ Adv/Dec 711/1345. …NYSE Adv/Dec 1530/1411.

03:35PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.45% at 88.6675
Dollar index is currently down 0.38% at 89.78.
Mar WTI crude is higher on the day.
EIA crude oil inventories had a draw of 1.6 mln barrels
Futures settled $1.15 higher to $62.74/barrel.
In other energy:
EIA natural gas inventory showed a draw of 124 bcf vs a draw of 194 bcf in the prior week
Mar natural gas settled up $0.02 at $2.68/MMBtu
On to metals:
Apr gold settled flat at $1332.70/oz, while Mar silver dropped $0.02 to $16.58/oz
Mar copper gained $0.02 to $3.24/lb
Finally, agriculture:
Mar corn settled $0.01 higher at $3.67/bu.
Mar soy settled $0.03 lower at $10.31/bu.
Mar wheat settled $0.03 higher at $4.51/bu.

Dow: +202.41… | Nasdaq: +2.48… | S&P: +7.11…
NASDAQ Adv/Dec 860/1490. …NYSE Adv/Dec 1627/1311.

03:00PM ET

[BRIEFING.COM] The major averages are only slightly above their lowest marks of the day after losing some ground in recent action. The S&P 500 is up 11 points, or 0.4%, and trading about 15 points below its 50-day simple moving average, which proved to be an area of resistance for the benchmark index earlier in the session.

Meanwhile, the Dow Jones Industrial Average is up 220 points, or 0.9%, with 22 of 30 components trading in the green. Industrial giants United Tech (UTX 133.48, +4.22) and Caterpillar (CAT 159.37, +4.14) are the top-performing Dow components, sporting gains of 3.3% and 2.7%, respectively.

Conversely, the tech-heavy Nasdaq is struggling to stay afloat, up just 12 points, or 0.2%, as technology shares underperform. Netflix (NFLX 277.00, -4.04) is showing particular weakness, down 1.5%, after challenging its all-time high on Wednesday.

The Nasdaq would end a three-session losing streak with a win today. The S&P 500 and the Dow have declined for two sessions in a row.
Dow: +218.49… | Nasdaq: +10.51… | S&P: +9.94…
NASDAQ Adv/Dec 1059/1422. …NYSE Adv/Dec 1730/1178.

02:30PM ET

[BRIEFING.COM] The Dow (+1.0%) and the S&P 500 (+0.5%) are on track to snap a two-session losing streak with a little over an hour of trading to go, while the Nasdaq (+0.2%) is also on track to post a modest victory.

Following today's closing bell, HP (HPQ 21.47, +0.30, +1.4%), Hewlett Packard Enterprise (HPE 16.41, +0.16, +1.0%), GoDaddy (GDDY 55.42, -0.28, -0.50%), Herbalife (HLF 83.41, +0.47, +0.6%), and Equifax (EFX 115.72, +1.89, +1.7%) are slated to release their quarterly earnings.

In currencies, the U.S. Dollar Index is down 0.4% at 89.65, on pace for its first loss in a week. Today's move narrows the index's weekly gain to 0.8%.
Dow: +236.93… | Nasdaq: +25.58… | S&P: +12.21…
NASDAQ Adv/Dec 1153/1336. …NYSE Adv/Dec 1875/1018.

02:05PM ET

[BRIEFING.COM] The tech-heavy Nasdaq dipped into the red in recent trading, but has since popped back into positive territory. The index is currently up 0.1%.

Blue-chip technology names are struggling this afternoon with shares of Alphabet (GOOG 1107.18, -6.57) and Cisco (CSCO 42.99, -0.32) showing losses of around 0.6% apiece. The largest tech name by market cap--Apple (AAPL 172.84, +1.79)--is still going strong, however, sporting a gain of 1.1%.
Dow: +170.96… | Nasdaq: +12.98… | S&P: +8.12…
NASDAQ Adv/Dec 1115/1423. …NYSE Adv/Dec 1849/1035.

01:35PM ET

[BRIEFING.COM] The major U.S. indices remain notably higher in today's trade, but are well off the sessions best levels.

A look inside the Dow Jones Industrial Average shows that United Technologies (UTX 133.90, +4.64), General Electric (GE 14.86, +0.37), & Caterpillar (CAT 158.79, +3.56) are outperforming. United Technologies is again leading the Dow higher after finding an apparent fix for its PW1100G-JM engine. Also helping shares, speaking late yesterday at the Barclays Industrial Select Conference, CEO Gregory Hayes indicated that his company is weighing a three-part breakup.

Conversely, Cisco (CSCO 43.12, -0.19) is the worst-performing Dow component as many technology names sit on the sidelines of today's broad-based rally.

Today's gains have trimmed this week's losses to 0.9%.

Elsewhere, at the top of the hour, the Treasury's $29 bln 7-year note auction drew a high yield of 2.839% on a bid-to-cover of 2.49.
Dow: +195.69… | Nasdaq: +7.92… | S&P: +12.07…
NASDAQ Adv/Dec 1134/1428. …NYSE Adv/Dec 1848/1028.

12:55PM ET

[BRIEFING.COM] Stocks have reclaimed a good chunk of their losses for the week today, but have hit some resistance at the S&P 500's 50-day simple moving average (2729) in recent trading. The benchmark index is currently up 0.8% at 2724, hovering a step below its session high (2731), while the Dow and the Nasdaq hold gains of 1.1% and 0.6%, respectively.

11 of 11 sectors are trading in the green, with advancing issues outnumbering declining issues 3 to 1 at the New York Stock Exchange.

Energy (+2.3%) is the top-performing sector, benefiting from a rally in the price of crude oil, which was prompted by the EIA's weekly inventory report; the Energy Information Administration reported a draw of 1.6 million barrels for the week ended February 16 this morning, while the consensus estimate was expecting a build of 1.8 million barrels.

West Texas Intermediate crude futures were flat ahead of the EIA release and are now up 2.0% at $62.94 per barrel.

The industrials (+1.3%), materials (+1.3%), utilities (+1.2%), telecom services (+1.5%), and real estate (+1.8%) sectors are also outperforming with gains of more than 1.0% apiece, while the financials (+0.5%), consumer discretionary (+0.6%), and health care (+0.7%) groups show relative weakness.

Financial shares have struggled to keep pace amid a downtick in Treasury yields, which settled Wednesday at multi-year highs. The benchmark 10-yr yield is down three basis points at 2.91% after closing at a four-year high on Wednesday, while the 2-yr yield is down two basis points at 2.25% after hitting its highest level in nearly 10 years.

The results of a $29 billion 7-yr note auction will be released in just a few minutes (1:00 PM ET).

Today's batch of economic data was pretty light, with investors receiving just two reports--weekly Initial Claims and Leading Indicators for January:

The latest weekly initial jobless claims count totaled 222,000, while the Briefing.com consensus expected a reading of 233,000. Today's tally was below the revised prior week count of 229,000 (from 230,000). As for continuing claims, they declined to 1.875 million from a revised count of 1.948 million (from 1.942 million).
The key takeaway from this report is that it covers the period in which the survey for the February employment report was completed. The low level of initial claims will most likely drive economists to estimate another decent-sized gain (200K+) for nonfarm payrolls.
The Conference Board Leading Economic Index increased 1.0% in January (Briefing.com consensus 0.8%). The prior month's reading was left unrevised at +0.6%.
The key takeaway from the report is that the uptick was widespread; in fact, there wasn't a negative contribution from any of the ten components.

Dow: +270.03… | Nasdaq: +30.82… | S&P: +20.72…
NASDAQ Adv/Dec 1411/1211. …NYSE Adv/Dec 2087/796.

12:25PM ET

[BRIEFING.COM] Equity indices are trading at session highs, sporting gains between 0.8% and 1.4%. The S&P 500 is currently hovering at its 50-day simple moving average (2729).

The industrial sector (+1.5%) is trading ahead of the broader market this afternoon, jumping into positive territory for the week (+0.4% WTD). Within the group, Dow components General Electric (GE 15.03, +0.54) and United Tech (UTX 134.46, +5.20) are among the top performers, adding 3.7% and 4.0%, respectively, while transports have also put together a solid showing, evidenced by the Dow Jones Transportation Average (+1.6%).

In the bond market, Treasury yields remain at their recent levels, with the 10-yr yield down three basis points at 2.91% and the 2-yr yield down two basis points at 2.25%. The results of a $29 billion 7-yr auction will be released at 1:00 PM ET.
Dow: +332.25… | Nasdaq: +54.96… | S&P: +27.81…
NASDAQ Adv/Dec 1609/1052. …NYSE Adv/Dec 2191/676.

12:05PM ET

[BRIEFING.COM] U.S. indices haven't shifted much since the last update. The Dow Jones Industrial Average is the top-performing major index, up 1.3%.

On the corporate front, Roku (ROKU 43.20, -7.90) has tumbled 15.5% after issuing below-consensus sales guidance for the first quarter. The company did beat earnings and revenue estimates for the holiday season, in addition to raising its profit guidance for fiscal year 2018, but the disappointing sales forecast has been the focal point today.

In Europe, the major bourses ended Thursday mixed; France's CAC ticked up 0.2%, while Germany's DAX and the UK's FTSE lost 0.1% and 0.4%, respectively.
Dow: +345.11… | Nasdaq: +59.58… | S&P: +29.15…
NASDAQ Adv/Dec 1787/993. …NYSE Adv/Dec 2243/677.

11:25AM ET

[BRIEFING.COM] The equity market has continued ticking higher in recent trading. The major averages now hold gains between 0.8% and 1.2%.

West Texas Intermediate crude futures have jumped 1.5% to $62.63 per barrel following the release of the Department of Energy's weekly crude inventory report, which showed that U.S. crude stockpiles decreased 1.6 million barrels last week. The consensus estimate called for a build of around 1.8 million barrels.

Similarly, the S&P 500's energy sector has extended its gain to 2.1% from 1.0% since the release.

Within the energy sector, Chesapeake Energy (CHK 3.19, +0.56) is the top performer, spiking 21.1%, after reporting better-than-expected earnings and revenues for the fourth quarter earlier this morning. CHK shares are trading at a two-week high.
Dow: +282.10… | Nasdaq: +54.00… | S&P: +25.11…
NASDAQ Adv/Dec 1612/1051. …NYSE Adv/Dec 2150/668.

10:55AM ET

[BRIEFING.COM] The major averages are drifting near their session highs, with the S&P 500 showing a gain of 0.8%.

All 11 S&P 500 sectors are trading in the green. Most sectors are up at least 0.6%, but the heavily-weighted financial group (+0.2%) is struggling to keep its head above water as Treasury yields retreat from multi-year highs; the yield on the 10-yr note has slipped three basis points to 2.91% after closing Wednesday at a four-year high.

As a reminder, the Energy Information Administration will release its weekly crude inventory report at 11:00 AM ET. West Texas Intermediate crude futures are trading flat at $61.66 per barrel ahead of the release.
Dow: +230.74… | Nasdaq: +47.89… | S&P: +19.27…
NASDAQ Adv/Dec 1558/1140. …NYSE Adv/Dec 1957/827.

10:35AM ET

[BRIEFING.COM] Commodities begin the day flat:

Overall, commodities, as measured by the Bloomberg Commodity Index, is flat at 88.2883
Dollar index is currently down 0.39% at 89.77.
Apr WTI crude is up this morning.
EIA data due out at 9am ET.
Futures are $0.17 higher to $61.85/barrel.
In other energy:
Natural gas inventory showed a draw of 124 bcf vs a draw of 194 bcf in the prior week
Apr natural gas is down $0.003 at $2.678/MMBtu
Metals:
Apr gold lost $0.90 and trades at $1331.20/oz, while Mar silver dropped $0.057 to $16.56/oz
Mar copper gained $0.0055 to $3.2215/lb
Finally, agriculture:
Mar corn is $0.02 higher at $3.66/bu.
May soy is up $0.02 at $10.456/bu.
Mar wheat is up $0.016 at $4.49/bu.

Dow: +184.36… | Nasdaq: +39.77… | S&P: +16.19…
NASDAQ Adv/Dec 1465/1242. …NYSE Adv/Dec 1888/878.

10:05AM ET

[BRIEFING.COM] The S&P 500 has slipped since the opening bell, trimming its gain to 0.3%.

Just in, the Conference Board Leading Economic Index increased 1.0% in January (Briefing.com consensus 0.8%). The prior month's reading was left unrevised at +0.6%.
Dow: +96.29… | Nasdaq: +19.04… | S&P: +8.31…
NASDAQ Adv/Dec 1428/1256. …NYSE Adv/Dec 1745/950.

09:40AM ET

[BRIEFING.COM] The major averages are higher in the opening minutes, sporting gains of around 0.7% apiece.

11 of 11 S&P 500 sectors are trading in the green, with telecom services (+1.5%) setting the pace. The industrials (+0.8%), energy (+0.9%), and real estate (+0.8%) groups also show relative strength, while the utilities space (+0.4%) trades at the back of the pack.

As a reminder, today's last economic report, Leading Indicators for January (Briefing.com consensus +0.8%), will be released at 10:00 AM ET.
Dow: +220.13… | Nasdaq: +51.26… | S&P: +21.27…
NASDAQ Adv/Dec 1742/867. …NYSE Adv/Dec 2034/601.

09:11AM ET
[BRIEFING.COM] S&P futures vs fair value: +11.50. Nasdaq futures vs fair value: +33.80.

The stock market is on course to open in positive territory, as the S&P 500 futures are trading 12 points, or 0.4%, above fair value.

It's been pretty quiet on Wall Street this morning. The weekly initial claims report crossed the wires earlier, showing that initial jobless claims totaled 222,000 (Briefing.com consensus 233,000) and that continuing claims declined to 1.875 million from a revised count of 1.948 million (from 1.942 million).

Today's last economic report, Leading Indicators for January (Briefing.com consensus +0.8%), will be released at 10:00 AM ET.

In earnings news, Avis Budget (CAR 43.50, +4.54) has spiked 11.7% in pre-market trading after beating earnings and revenue estimates for the four quarter.

Meanwhile, West Texas Intermediate crude futures are up 0.2% at $61.79 per barrel after the American Petroleum Institute reported on Wednesday evening that U.S. crude inventories declined by 0.9 million barrels for the week ended February 16. The official government figures will be released at 11:00 AM ET.

In the bond market, U.S. Treasuries have bounced back from yesterday's sell off, pushing yields lower. The benchmark 10-yr yield is at 2.92% after settling Wednesday at 2.94%, its highest level in four years. Meanwhile the 2-yr yield is flat at 2.26%, its highest level in nearly a decade.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +7.30. Nasdaq futures vs fair value: +24.80.

The S&P 500 futures are trading seven points, or 0.3%, above fair value.

Equity indices in the Asia-Pacific region ended Thursday on a mostly lower note while China's Shanghai Composite (+2.2%) outperformed after a week-long closure. China National Tourism Administration reported that Lunar New Year spending increased 12.6% year-over-year to CNY475 billion. Cobalt miners outperformed in China amid reports that Apple may begin purchasing cobalt directly from miners to keep a lid on costs. In Japan, Prime Minister Shinzo Abe's adviser Koichi Hamada said the Bank of Japan should look into purchasing foreign bonds. North Korean officials are scheduled to visit South Korea on Sunday.

In economic data:
Hong Kong's January CPI +1.7% year-over-year (last 1.7%). January Unemployment Rate 2.9% (last 2.9%)
New Zealand's Credit Card Spending +4.6% year-over-year (last 6.2%)

---Equity Markets---

Japan's Nikkei lost 1.1%. Ricoh, Tosoh, JTEKT, Japan Steel Works, Yokohama Rubber, Furukawa, Hino Motors, Kikkoman, and TOTO lost between 2.1% and 3.9%.
Hong Kong's Hang Seng fell 1.5% amid losses in most components. Financials and energy names lagged with CNOOC, China Petrol & Chemical, ICBC, Ping An Insurance, Bank of China, and AIA Group lost between 1.6% and 2.4%. On the upside, consumer names like China Mengniu Dairy and Want Want China gained 5.5% and 2.8%, respectively.
China's Shanghai Composite rose 2.2%. BTG Hotels, Shenghe Resources Holding, China Southern Airline, Heilan Home, and Lawton Development rose between 8.8% and 10.0%.
India's Sensex shed 0.1%. Dr. Reddy's Labs lost 2.2% while Power Grid, Tata Motors, Maruti Suzuki, Bajaj Auto, and Tata Motors DV lost between 0.8% and 1.9%.

Major European indices trade on a mostly lower note while Spain's IBEX (+0.3%) holds a slim gain. Germany's finance ministry expects that 2018 GDP will hit 2.4%. There were reports suggesting SPD supports nominating Jens Weidmann to replace Mario Draghi at the ECB, but the reports were later refuted. Moody's raised Greece's rating to 'B3' from 'Caa2' with a 'Positive' outlook.

In economic data:
Germany's February Ifo Business Climate Index 115.4 (expected 117.1; last 117.6). February Business Expectations 105.4 (expected 107.9; last 108.3) and February Current Assessment 126.3 (expected 127.0; last 127.8)
UK's Q4 GDP +0.4% quarter-over-quarter (expected 0.5%; last 0.5%); +1.4% year-over-year (expected 1.5%; last 1.5%). Q4 Business Investment 0.0% quarter-over-quarter (expected 0.5%; last 0.5%); +2.1% year-over-year (consensus 2.4%; last 1.7%). February CBI Distributive Trades Survey 8 (expected 13; last 12)
Italy's January CPI +0.3% month-over-month (expected 0.2%; last 0.2%); +0.9% year-over-year (expected 0.8%; last 0.8%). December Industrial New Orders +6.9% year-over-year (last 8.9%) and December Industrial Sales +7.2% year-over-year (last 5.1%)
France's January CPI -0.1% month-over-month, as expected (last -0.1%). February Business Survey 112 (expected 113; last 114)
Swiss Q4 Industrial Orders +19.6% year-over-year (last 9.7%)

---Equity Markets---

UK's FTSE trades lower by 1.1%. British American Tobacco has slid 4.2% after reporting underwhelming earnings. Other consumer names like Imperial Brands, ITV, Merlin Entertainments, Barratt Developments, Burberry, and Kingfisher show losses between 1.6% and 3.4%.
Germany's DAX has slid 0.7%. Deutsche Bank is down 1.4% while Thyssenkrupp, Siemens, Infineon, Daimler, SAP, and Volkswagen are down between 0.8% and 1.2%. On the upside, Henkel and Prosiebensat show respective gains of 2.5% and 3.1%.
France's CAC has shed 0.2%. Atos, Saint Gobain, Carrefour, Louis Vuitton, Kering, Michelin, and Total hold losses between 0.3% and 2.0%. TechnipFMC has spiked 5.3% after reporting quarterly results.
Spain's IBEX is higher by 0.3%. Telefonica, DIA, Bankinter, Bankia, Acciona, IAG, Repsol, and Iberdrola show gains between 0.3% and 4.0%.


08:32AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +7.00.

The S&P 500 futures are trading two points, or 0.1%, above fair value.

Just in, the latest weekly initial jobless claims count totaled 222,000, while the Briefing.com consensus expected a reading of 233,000. Today's tally was below the revised prior week count of 229,000 (from 230,000). As for continuing claims, they declined to 1.875 million from a revised count of 1.948 million (from 1.942 million).

08:01AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +9.50.

The S&P 500 futures are trading five points, or 0.2%, above fair value this morning as investors look to end a two-day slide.

Overseas, equity indices in the Asia-Pacific region finished Thursday mostly lower, although China's Shanghai Composite climbed 2.2% after a week-long closure for the Lunar New Year. Meanwhile, the major European bourses are trading in negative territory, with the UK's FTSE (-1.0%) leading the retreat.

Today's batch of economic data includes just two reports--weekly Initial Claims (Briefing.com consensus 233K) and Leading Indicators for January (Briefing.com consensus +0.8%). The two reports will be released at 8:30 AM ET and 10:00 AM ET, respectively.

In the bond market, U.S. Treasuries are relatively flat this morning, hovering at multi-year lows, following a big sell off on Wednesday. The yield on the benchmark 10-yr Treasury note is down one basis point at 2.94%, while the 2-yr yield is up one basis point at 2.27%.

Meanwhile, WTI crude futures are down 0.3% at $61.48 per barrel after the American Petroleum Institute reported on Wednesday evening that U.S. crude inventories declined by 0.9 million barrels for the week ended February 16. The official government figures will be released at 11:00 AM ET today, one day later than usual due to Presidents' Day.

In U.S. corporate news:

Avis Budget (CAR 42.55, +3.59): +9.2% after reporting above-consensus earnings and revenues for the fourth quarter.
TechnipFMC (FTI 30.87, +1.78): +6.1% despite missing Q4 earnings and revenue estimates.
Chesapeake Energy (CHK 2.80, +0.17): +6.5% after reporting better-than-expected earnings and revenues.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a mostly lower note while China's Shanghai Composite (+2.2%) outperformed after a week-long closure. Japan's Nikkei -1.1%, Hong Kong's Hang Seng -1.5%, India's Sensex -0.1%.
In economic data:
Hong Kong's January CPI +1.7% year-over-year (last 1.7%). January Unemployment Rate 2.9% (last 2.9%)
New Zealand's Credit Card Spending +4.6% year-over-year (last 6.2%)
In news:
China National Tourism Administration reported that Lunar New Year spending increased 12.6% year-over-year to CNY475 billion.
Cobalt miners outperformed in China amid reports that Apple may begin purchasing cobalt directly from miners to keep a lid on costs.
Japanese Prime Minister Shinzo Abe's adviser Koichi Hamada said the Bank of Japan should look into purchasing foreign bonds.
North Korean officials are scheduled to visit South Korea on Sunday.

Major European indices trade on a mostly lower note while Spain's IBEX (+0.3%) holds a slim gain. UK's FTSE -1.0%, Germany's DAX -0.7%, France's CAC -0.3%.
In economic data:
Germany's February Ifo Business Climate Index 115.4 (expected 117.1; last 117.6). February Business Expectations 105.4 (expected 107.9; last 108.3) and February Current Assessment 126.3 (expected 127.0; last 127.8)
UK's Q4 GDP +0.4% quarter-over-quarter (expected 0.5%; last 0.5%); +1.4% year-over-year (expected 1.5%; last 1.5%). Q4 Business Investment 0.0% quarter-over-quarter (expected 0.5%; last 0.5%); +2.1% year-over-year (consensus 2.4%; last 1.7%). February CBI Distributive Trades Survey 8 (expected 13; last 12)
Italy's January CPI +0.3% month-over-month (expected 0.2%; last 0.2%); +0.9% year-over-year (expected 0.8%; last 0.8%). December Industrial New Orders +6.9% year-over-year (last 8.9%) and December Industrial Sales +7.2% year-over-year (last 5.1%)
France's January CPI -0.1% month-over-month, as expected (last -0.1%). February Business Survey 112 (expected 113; last 114)
Swiss Q4 Industrial Orders +19.6% year-over-year (last 9.7%)
In news:
Germany's finance ministry expects that 2018 GDP will hit 2.4%.
There were reports suggesting SPD supports nominating Jens Weidmann to replace Mario Draghi at the ECB, but the reports were later refuted.
Moody's raised Greece's rating to 'B3' from 'Caa2' with a 'Positive' outlook.

06:29AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: -0.50.

06:27AM ET
[BRIEFING.COM] Nikkei...21736...-234.40...-1.10%. Hang Seng...30966...-466.20...-1.50%.

06:27AM ET
[BRIEFING.COM] FTSE...7210.76...-70.80...-1.00%. DAX...12366.43...-104.10...-0.80%.

04:30PM ET

[BRIEFING.COM] Stocks got off to a good start on Wednesday, but gave back all of their gains, and then some, following the release of the minutes from the January FOMC meeting. The S&P 500 was up as much as 1.2%, but eventually settled with a loss of 0.6%. Similarly, the Dow and the Nasdaq lost 0.7% and 0.2%, respectively, after being up more than 1.0% apiece.

The value of the aforementioned minutes was diminished by the fact that a lot has happened since the January 30-31 FOMC meeting: the CPI and PPI reports for January were released, Congress passed a two-year budget agreement that will increase spending by approximately $420 billion, the stock market endured a sharp sell off, losing around 8.0% in just a week, and Jerome Powell replaced Janet Yellen as the head of the Federal Reserve. In other words, the minutes are somewhat out of date.

Nonetheless, the minutes weren't without some value; most notably, they revealed that almost all FOMC members expect inflation to increase in 2018 and that a majority of members believe a stronger outlook for economic growth raises the "likelihood that further gradual policy firming would be appropriate."

U.S. Treasuries extended earlier losses following the release of the minutes, pushing yields higher across the curve. The yield on the 10-yr note finished at 2.94%, up from 2.91% ahead of the minutes and up from 2.89% at Tuesday's close. However, the 2-yr yield had a relatively muted reaction to the minutes, finishing four basis points higher at 2.26%.

As for equities, 11 of 11 S&P 500 sectors finished in negative territory, with the energy (-1.7%), consumer staples (-1.2%), utilities (-1.3%), telecom services (-1.6%), and real estate (-1.8%) sectors leading the retreat. Conversely, the financials (-0.1%), consumer discretionary (-0.1%), and industrials (unch) groups exhibited relative strength.

In corporate news, United Tech (UTX 129.26, +2.80) outperformed on Wednesday, adding 2.2%, after its Pratt & Whitney unit announced that it's solved issues that have caused delays in supplying engines to European planemaker Airbus. Meanwhile, Advance Auto (AAP 114.00, +8.65) spiked 8.2% after beating top and bottom line estimates for the fourth quarter.

Reviewing Wednesday's economic data, which was limited to Existing Home Sales for January and the weekly MBA Mortgage Applications Index:

Existing home sales decreased 3.2% in January to an annualized rate of 5.38 million units (Briefing.com consensus 5.62 million). The December reading was revised to 5.56 million from 5.57 million.
The key takeaway from the report is that notable supply constraints continue to act as a drag on overall sales. The limited inventory--and the high prices on available inventory--is crimping affordability, particularly for first-time buyers; moreover, all prospective buyers are going to feel added affordability pressures now from rising mortgage rates.
The weekly MBA Mortgage Applications Index decrease 6.6% to follow last week's 4.1% decline.

On Thursday, investors will receive the weekly Initial Claims report (Briefing.com consensus 233K) and the Leading Indicators report for January (Briefing.com consensus +0.8%) at 8:30 AM ET and 10:00 AM ET, respectively.

Nasdaq Composite: +4.6% YTD
S&P 500: +1.0% YTD
Dow Jones Industrial Average: +0.3% YTD
Russell 2000: -0.2% YTD

Dow: -166.97… | Nasdaq: -16.08… | S&P: -14.93…
NASDAQ Adv/Dec 894/1019. …NYSE Adv/Dec 1358/1614.

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 Rebuttal to 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

Image Advance WRB Analysis Tutorial Chapters 4 - 12 @ http://www.thestrategylab.com/WRBAnalysisTutorials.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/tsl/forum/viewtopic.php?f=127&t=850 & 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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