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 Post subject: Feb 26th Mon Price Action Trade Result - No Trades
PostPosted: Mon Feb 26, 2018 10:48 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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Quote:
No trades today...personal things to do involving my taxes because I'm filing early this year.

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=177&t=2761

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 04:30PM ET
Dow: +399.28… | Nasdaq: +84.07… | S&P: +32.30…
NASDAQ Vol: 1.86 bln… Adv: 1254… Dec: 998…
NYSE Vol: 813.1 mln… Adv: 1982… Dec: 958…

Moving the Market

Buying momentum following Friday's rally, which pushed the S&P 500 above its 50-day simple moving average (2731)

Top-weighted technology and financials sectors provide sector leadership

CBOE Volatility Index (VIX) hits three-week low; returns to levels seen before the big sell off at the beginning of February

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

04:30PM ET

[BRIEFING.COM] Stocks rallied for a second consecutive session on Monday, finishing at their best marks of the day. The Dow Jones Industrial Average climbed 1.6%, while the S&P 500 and the Nasdaq Composite jumped 1.2% apiece. The Russell 2000 underperformed, but still finished with a gain of 0.7%.

For the month of February, the tech-heavy Nasdaq is now in positive territory (+0.1%), while the S&P 500 and the Dow are down a little more than 1.5% apiece. Still, that's up from losses of around 8.7% at their lowest points on February 8.

Friday's breaching of the S&P 500's 50-day simple moving average and the continued decline of the CBOE Volatility Index (VIX 15.93, -0.56), which has nearly returned to levels seen prior to Wall Street's big sell off at the beginning of February, helped fuel a bullish bias on Monday. In terms of news, Monday's session was fairly uneventful.

10 of 11 S&P 500 sectors settled in positive territory, with the top-weighted technology (+1.6%) and financials (+1.5%) sectors being among the top-performing groups. The industrials sector (+1.4%) and the lightly-weighted telecom services sector (+1.8%) also outperformed.

With the tech space, Qualcomm (QCOM 66.98, +3.66) showed particular strength, jumping 5.8%, after reports that the company is open to being acquired by Broadcom (AVGO 252.95, -0.76) should Broadcom raise its bid to $160 billion, which is more than $90 per share. HP (HPQ 23.46, +1.33) also outperformed, rising 6.0%, after JPMorgan upgraded HPQ shares to 'Overweight' from 'Neutral' following last week's earnings.

On the downside, the rate-sensitive utilities sector finished in negative territory, losing 0.3%, as Treasury yields climbed intraday to finish just slightly below Friday's closing levels. The yield on the 10-yr note finished one basis point lower at 2.86% after trading as low as 2.83% in the early morning. Meanwhile, the yield on the 2-yr note also lost one basis point, dropping to 2.23%.

Like utilities, the real estate (+0.4%) and materials (+0.5%) sectors also underperformed, but still finished in positive territory.

Monday's economic data was limited to the New Home Sales report for January; New Home Sales hit an annualized rate of 593,000 in January, which is below the revised December rate of 643,000 (from 625,000), and lower than the Briefing.com consensus of 645,000. The key takeaway from the report is that new home sales were down 1.0% year-over-year in January, suggesting perhaps that high prices and rising mortgage rates have curtailed new contract signings.

Looking ahead, investors will receive a number of economic reports on Tuesday: Durable Orders for January (Briefing.com consensus -2.0%) and International Trade in Goods for January (Briefing.com consensus -$72.2 billion) will be released at 8:30 AM ET, the S&P Case-Shiller Home Price Index for December (Briefing.com consensus +6.4%) and the FHFA Housing Price Index for December (Briefing.com consensus +0.4%) will be released at 9:00 AM ET, and the Consumer Confidence Index for February (Briefing.com consensus 126.5) will be released at 10:00 AM ET.

In addition, Jerome Powell will testify before the House Financial Services Committee at 10:00 AM ET on Tuesday, marking his first appearance as Fed Chairman. Mr. Powell's prepared testimony will cross the wires prior to his appearance (8:30 AM ET).

Nasdaq Composite: +7.5% YTD
S&P 500: +4.0% YTD
Dow Jones Industrial Average: +4.0% YTD
Russell 2000: +1.6% YTD

Dow: +399.28… | Nasdaq: +84.07… | S&P: +32.30…
NASDAQ Adv/Dec 1254/998. …NYSE Adv/Dec 1982/958.

03:30PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.39% at 88.0401
Dollar index is currently down 0.04% at 89.84
Mar WTI Crude is up 0.49% on the day.
Futures settle $0.31 higher to $63.86/barrel.
In other energy, Mar Natural Gas settled up $0.02 at $2.68/MMBtu
On the metals:
Apr Gold gained $2.30 to settle at $1332.60/oz, while Mar silver gained $0.07 to $16.55/oz
Mar Copper dropped $0.01 to $3.20/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.69/bu.
Mar soy settled flat at $10.46/bu.
Mar Wheat settled up $0.01 at $4.74/bu.

Dow: +404.34… | Nasdaq: +81.62… | S&P: +31.83…
NASDAQ Adv/Dec 1535/958. …NYSE Adv/Dec 2008/929.

03:00PM ET

[BRIEFING.COM] The major averages continue to trade near their session highs, sporting gains between 1.0% and 1.4%.

Looking ahead, investors will receive a number of economic reports tomorrow, including Durable Orders for January (Briefing.com consensus -2.0%) and International Trade in Goods for January (Briefing.com consensus -$72.2 billion) at 8:30 AM ET, the S&P Case-Shiller Home Price Index for December (Briefing.com consensus +6.4%) and the FHFA Housing Price Index for December (Briefing.com consensus +0.4%) at 9:00 AM ET, and the Consumer Confidence Index for February (Briefing.com consensus 126.5) at 10:00 AM ET.

In addition, Jerome Powell will make his first appearance as Fed Chairman in front of the House Financial Services Committee.
Dow: +342.33… | Nasdaq: +69.34… | S&P: +26.21…
NASDAQ Adv/Dec 1546/1094. …NYSE Adv/Dec 1891/1035.

02:30PM ET

[BRIEFING.COM] The major averages continue to tick higher, with the S&P 500 extending its gain to 1.0%. The Dow is up 1.5%, while the Nasdaq is higher by 1.0%.

For the month, the S&P 500 is lower by 1.7% with 10 of its 11 sectors trading in the red. The energy (-8.2% MTD), consumer staples (-5.9% MTD), real estate (-5.1% MTD), and telecom services (-4.9% MTD) sectors are pacing the retreat, while the top-weighted technology sector (+1.4% MTD) is the lone advancer.

Meanwhile, the Dow is also down for the month (-1.8% MTD), while the Nasdaq trades flat.
Dow: +356.55… | Nasdaq: +70.30… | S&P: +26.60…
NASDAQ Adv/Dec 1665/1015. …NYSE Adv/Dec 1942/964.

02:00PM ET

[BRIEFING.COM] Stocks continue hovering at session highs this afternoon. The Dow is up 1.4%, while the S&P 500 and the Nasdaq sport gains of around 0.9% apiece.

The financial sector (+1.3%) has jumped to first place in the sector standings, with heavyweights like JPMorgan Chase (JPM 118.29, +0.99), Bank of America (BAC 32.31, +0.29), Wells Fargo (WFC 29.75, +0.58), and Citigroup (C 77.59, +0.51) sporting gains between 0.7% and 1.0%.

Berkshire Hathaway (BRK.B 210.43, +7.67) has done even better, jumping 3.8%, after reporting its fourth quarter results this morning.
Dow: +335.66… | Nasdaq: +60.92… | S&P: +24.92…
NASDAQ Adv/Dec 1684/1021. …NYSE Adv/Dec 1939/967.

01:35PM ET

[BRIEFING.COM] The major U.S. indices are currently at their best levels of the day as stocks start the week on a high-note, helped by bullish overseas sentiment, easing interest rate concerns, and positive commentary from renowned investor Warren Buffett amid this weekend's release of his highly-coveted annual letter to shareholders.

A look inside the Dow Jones Industrial Average shows that Cisco (CSCO 45.21, +1.21), 3M (MMM 243.20, +6.18), & Travelers (TRV 143.32, +3.56) are outperforming amid broad market strength.

Conversely, General Electric (GE 14.30, -0.19) is the worst-performing Dow component as shares slip to fresh multi-year lows after the beleaguered industrial giant released its 10-K annual report late Friday, which disclosed that the company expected to restate its financial results for the last two years and also that they expect the DOJ to assert that two of GE's subsidiaries violated the law in connection with the origination and sale of subprime mortgage loans in 2006 and 2007.

With the DJIA up 1.44% to begin the trading week, this month's losses have been reduced to 1.81%.
Dow: +356.84… | Nasdaq: +62.93… | S&P: +25.36…
NASDAQ Adv/Dec 1700/1039. …NYSE Adv/Dec 1901/973.

01:05PM ET

[BRIEFING.COM] Equities have extended Friday's rally in the first half of today's session, sending the S&P 500 to a fresh three-week high. The benchmark index is up 0.9%, hovering at its best mark of the day, while the Nasdaq and the Dow show gains of 0.9% and 1.3%, respectively. The small-cap Russell 2000 is underperforming though, up just 0.4%.

Today's rally has been broad with 10 of 11 S&P 500 sectors advancing. Gains range from 0.1% to 1.2%.

The top-weighted technology sector (+1.2%) is the best-performing group. Within the space, HP (HPQ 23.29, +1.16) is particularly strong, up 5.2%, after JPMorgan upgraded HPQ shares to 'Overweight' from 'Neutral' following last week's earnings. Apple (AAPL 178.53, +3.03) is also outperforming, up 1.6%, as is Qualcomm (QCOM 65.48, +2.17), which has rallied 3.4% after proposing "further engagement" with potential suitor Broadcom (AVGO 254.00, +0.29).

Meanwhile, the heavily-weighted financials (+1.1%), health care (+1.0%), and industrials (+1.0%) sectors are also trading a step ahead of the broader market, but the real estate (+0.1%), materials (+0.3%), and utilities (-0.3%) spaces are struggling.

In the bond market, U.S. Treasuries have slipped from their earlier highs. The yield on the 10-yr note is now down just one basis point at 2.86% after being down as many as four basis points earlier. Meanwhile, the 2-yr yield is down one basis point at 2.23% after being down three basis points earlier. Yields move inversely to prices.

Today's economic data was limited to the New Home Sales report for January; New Home Sales in January hit an annualized rate of 593,000, which is below the revised December rate of 643,000 (from 625,000), and lower than the Briefing.com consensus of 645,000. The key takeaway from the report is that new home sales were down 1.0% year-over-year in January, suggesting perhaps that high prices and rising mortgage rates have curtailed new contract signings.
Dow: +339.41… | Nasdaq: +65.57… | S&P: +25.23…
NASDAQ Adv/Dec 1742/995. …NYSE Adv/Dec 1952/936.

12:30PM ET

[BRIEFING.COM] Stocks have ticked up to new session highs in recent action. The S&P 500 is currently holding a gain of 0.8%.

10 of 11 sectors are trading in the green, including financials (+0.9%), consumer discretionary (+0.6%), industrials (+0.8%), energy (+0.6%), materials (+0.1%), technology (+1.0%), health care (+0.9%), consumer staples (+0.4%), telecom services (+1.0%), and real estate (+0.3%).

The utilities sector is the lone laggard, showing a slim loss of 0.1%.
Dow: +296.43… | Nasdaq: +55.98… | S&P: +21.75…
NASDAQ Adv/Dec 1687/1091. …NYSE Adv/Dec 1852/1011.

11:55AM ET

[BRIEFING.COM] The S&P 500 is hovering near its session high, up 0.6%, which trims its February loss to 2.1%.

In Europe, the major bourses finished Monday in the green; Germany's DAX climbed 0.4%, while the UK's FTSE and France's CAC added 0.6% apiece. The U.S. dollar is little changed against the euro (1.2309), the British pound (1.3961), and the Japanese yen (106.88).

For the month, the Euro Stoxx 50 is down 3.9%.
Dow: +214.39… | Nasdaq: +46.19… | S&P: +15.33…
NASDAQ Adv/Dec 1533/1238. …NYSE Adv/Dec 1677/1174.

11:25AM ET

[BRIEFING.COM] The major averages sport gains between 0.6% and 0.9%.

Homebuilders are struggling today, evidenced by the 0.6% decrease in the iShares U.S. Home Construction ETF (ITB 40.14, -0.26), after the New Home Sales report for January came in below consensus (593K actual vs 645K Briefing.com consensus). The key takeaway from the report is that new home sales were down 1.0% year-over-year in January, suggesting perhaps that high prices and rising mortgage rates have curtailed new contract signings.

Elsewhere, Treasury yields are lower across the curve this morning, with the benchmark 10-yr yield down four basis points at 2.83%.
Dow: +245.80… | Nasdaq: +46.79… | S&P: +16.88…
NASDAQ Adv/Dec 1454/1346. …NYSE Adv/Dec 1579/1247.

11:00AM ET

[BRIEFING.COM] The major averages have slipped from their opening marks, but are still trading in positive territory. The Dow Jones Industrial Average is up 0.7%, while the Nasdaq Composite and the S&P 500 show gains of 0.5% and 0.4%, respectively. Small caps are underperforming, pushing the Russell 2000 lower by 0.2%.

Most of the S&P 500's 11 sectors are higher this morning. The top-weighted technology sector (+0.8%) is among the best-performing groups, with two-thirds of its components trading in the green. Apple (AAPL 177.63, +2.13) is up 1.2%, while Netflix (NFLX 292.82, +6.92) is up 2.4%, hovering at a new record high.

On the flip side, the materials sector (-0.3%) is trading at the bottom of the sector standings. Within the group, Albemarle (ALB 108.26, -10.57) has dropped 8.9% after being downgraded to 'Underweight' from 'Equal-Weight' at Morgan Stanley.
Dow: +162.92… | Nasdaq: +28.98… | S&P: +9.19…
NASDAQ Adv/Dec 1397/1409. …NYSE Adv/Dec 1458/1356.

10:30AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.35% at 88.0031
Dollar index is currently up 0.09% at 89.96
Mar WTI crude is down 0.11% on the day.
Futures are $0.07 lower to $63.48/barrel.
In other energy, Mar natural gas is down $0.01 at $2.65/MMBtu
Metals:
Apr gold gained $4.60 and trades at $1334.90/oz, while Mar silver gained $0.07 to $16.55/oz
Mar copper dropped 0.01 to $3.20/lb
Finally, agriculture:
Mar corn is up $0.03 at $3.69/bu.
Mar soy is up $0.1 at $10.5775/bu.
Mar wheat is up $0.1 at $4.74/bu.

Dow: +148.42… | Nasdaq: +29.27… | S&P: +8.89…
NASDAQ Adv/Dec 1382/1395. …NYSE Adv/Dec 1427/1329.

10:00AM ET

[BRIEFING.COM] The major averages continue to hover near their opening levels. The S&P 500 is up 0.6%.

Just in, New Home Sales in January hit an annualized rate of 593,000, which is below the revised December rate of 643,000 (from 625,000), and lower than the Briefing.com consensus of 645,000.
Dow: +212.21… | Nasdaq: +48.53… | S&P: +15.48…
NASDAQ Adv/Dec 1543/1254. …NYSE Adv/Dec 1594/1155.

09:40AM ET

[BRIEFING.COM] The major averages are higher this morning, sporting gains of around 0.7% apiece.

11 of 11 sectors are trading in the green, with the top-weighted technology group (+0.9%) leading the charge. The consumer discretionary (+0.7%) and industrials (+0.7%) sectors are also exhibiting relative strength, while the utilities (+0.1%) and real estate (+0.1%) groups are struggling to stay afloat.

As a reminder, today's lone economic report, New Home Sales for January (Briefing.com consensus 645K), will be released at 10:00 AM ET.
Dow: +200.27… | Nasdaq: +52.88… | S&P: +17.34…
NASDAQ Adv/Dec 1886/807. …NYSE Adv/Dec 2021/642.

09:11AM ET
[BRIEFING.COM] S&P futures vs fair value: +11.80. Nasdaq futures vs fair value: +33.00.

Stocks are on course to open in the green, as the S&P 500 futures are trading 12 points, or 0.4%, above fair value.

In corporate news, steel names like U.S. Steel (X 45.20, +1.68) and AK Steel (AKS 5.75, +0.25) are up 3.9% and 4.5%, respectively, in pre-market trading following a Bloomberg report that President Trump wants to impose the harshest tariffs on steel and aluminum imports recommended by the U.S. Department of Commerce. Meanwhile, Qualcomm (QCOM 65.00, +1.68) is up 2.7% after proposing "further engagement" with Broadcom (AVGO 253.71, 0.00).

Outside of equities, U.S. Treasuries are higher this morning, pushing yields lower across the curve; the 10-yr yield is down three basis points at 2.84%. Meanwhile, West Texas Intermediate crude futures are down 0.3% at $63.35 per barrel, the U.S. Dollar Index is flat at 89.78, and the CBOE Volatility Index (VIX 16.41, -0.08) is back below 17.00.

Today's lone economic report, New Home Sales for January (Briefing.com consensus 645K), will be released at 10:00 AM ET.

08:51AM ET
[BRIEFING.COM] S&P futures vs fair value: +12.50. Nasdaq futures vs fair value: +34.30.

The S&P 500 futures are trading 13 points, or 0.5%, above fair value.

Equity indices in the Asia-Pacific region began the week on a higher note. China's Communist Party has proposed removing presidential term limits, paving the way for Xi Jinping to rule for life. Speculation about such a move has been on the rise since 'Xi Jinping Thought on Socialism with Chinese Characteristics' was added to the country's constitution in October. In Japan, the approval rating of Prime Minister Shinzo Abe's cabinet has edged up to 56% from 55%.

In economic data:
China's House Prices +5.0% year-over-year (last 5.3%)
Japan's Leading Index 107.4 (expected 107.9; last 107.9)
Singapore's January Industrial Production +6.7% month-over-month (expected 4.7%; last -0.5%); +17.9% year-over-year (expected 8.2%; last -3.4%)

---Equity Markets---

Japan's Nikkei climbed 1.2%. Nissan Chemical Industries, Casio, Hitachi Construction, Chugai Pharmaceutical, Olympus, KDDI, Dainippon Screen Manufacturing, Alps Electric, and Kikkoman gained between 1.9% and 3.7%.
Hong Kong's Hang Seng rose 0.7%. Geely Automobile surged 6.5% after announcing a stake of more than 5.0% in Daimler. Sunny Optical Tech jumped 4.1% while property names like Link Reit, Wharf Real Estate, Wharf Holdings, Sino Land, SHK Properties, and Hang Lung Properties gained between 1.7% and 3.1%.
China's Shanghai Composite advanced 1.2%. Inner Mongolia First Machinery Group, Jiangsu Changjiang Electronics, Tibet Rhodiola Pharmaceutical Holding, Hanszhou Silan Microelectronics, and Shandong Lukang Pharmaceutical posted gains between 6.8% and 9.2%.
India's Sensex gained 0.9%. Maruti Suzuki, Tata Motors, Tata Motors DV, Mahindra&Mahindra, and Hero MotoCorp rose between 1.2% and 3.4%. Tech consultants underperformed with Wipro, Infosys, and Tata Consultancy falling between 0.7% and 1.4%.

Major European indices hold modest gains across the board. In the UK, Labour's Jeremy Corbyn is expected to voice support for permanent membership in the EU customs union following Brexit. Bank of England Deputy Governor Dave Ramsden warned that interest may be increased sooner than expected if wage growth accelerates. European Central Bank member Benoit Coeure said he is not eager to rush into normalizing the region's ultraloose monetary policy.

Economic data was limited:
UK's Gross Mortgage Approvals 40,100 (expected 37,200; last 36,100)
Swiss Q4 Employment Level 4.962 mln (last 4.956 mln)

---Equity Markets---

Germany's DAX trades up 0.4%. Volkswagen and BMW show respective gains of 2.0% and 1.0% while Daimler is down 0.6%. Deutsche Bank trades up 0.8% while heavyweights like BASF, Bayer, Merck, Allianz, and SAP show gains between 0.2% and 0.8%. RWE is the weakest performer, falling 0.7%.
France's CAC has climbed 0.7% amid gains in most components. Consumer names like Accor, Publicis Groupe, Louis Vuitton, Danone, L'Oreal, Kering, and Pernod Ricard sport gains between 0.8% and 1.5%. Peugeot and Renault are up 0.7% and 0.3%, respectively, while Valeo lags, falling 1.6%.
UK's FTSE is higher by 0.7%. Miners and select consumer names are among the leaders with Anglo American, Associate British Foods, Randgold Resources, Fresnillo, Compass, Kingfisher, Unilever, BNP Billiton, Antofagasta, Rio Tinto, Sainsbury, and Tesco have climbed between 0.7% and 3.0%. Provident Financial has tumbled 9.9% amid speculation the troubled company will look to raise capital.

08:25AM ET
[BRIEFING.COM] S&P futures vs fair value: +10.30. Nasdaq futures vs fair value: +33.80.

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

With just a few days left in the month of February, the S&P 500 holds a month-to-date loss of 2.7%. All 11 of the S&P 500's sectors are trading in the red, with the energy (-8.7% MTD), consumer staples (-6.2% MTD), telecom services (-5.9% MTD), and real estate (-5.2% MTD) sectors being the worst performers.

On the flip side, the technology (unch MTD), consumer discretionary (-1.8% MTD), and utilities (-1.8% MTD) groups have exhibited relative strength.

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: +10.30. Nasdaq futures vs fair value: +29.50.

The S&P 500 futures are trading 10 points, or 0.4%, above fair value as investors look to continue Friday's rally.

Overseas, equity indices in the Asia-Pacific region kicked off the week on a positive note, with Japan's Nikkei (+1.2%) and China's Shanghai Composite (+1.2%) setting the pace, and the major European bourses are also having a solid day, sporting gains of around 0.5% apiece.

In the bond market, U.S. Treasuries are higher this morning, sending yields lower across the curve; the yield on the 10-yr note is down two basis points at 2.85%, while the yield on the 2-yr note is lower by one basis point at 2.23%.

Investors will receive just one economic report today, New Home Sales (Briefing.com consensus 645K), which will be released at 10:00 AM ET.

Looking ahead, Jerome Powell will make his first appearance as Fed Chairman on Tuesday, when he is due to speak in front of the House Financial Services Committee. Mr. Powell will then return to Capitol Hill on Thursday to answer questions from the Senate Banking Committee.

In U.S. corporate news:

Qualcomm (QCOM 64.90, +1.58): +2.5% after proposing "further engagement" with Broadcom (AVGO 253.71, 0.00).
U.S. Steel (X 45.50, +1.98), AK Steel (AKS 5.74, +0.24): +4.5% following a Bloomberg report that President Trump wants to impose the harshest tariffs on steel and aluminum imports recommended by the U.S. Department of Commerce.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a higher note. Japan's Nikkei +1.2%, Hong Kong's Hang Seng +0.7%, China's Shanghai Composite +1.2%, India's Sensex +0.9%.
In economic data:
China's House Prices +5.0% year-over-year (last 5.3%)
Japan's Leading Index 107.4 (expected 107.9; last 107.9)
Singapore's January Industrial Production +6.7% month-over-month (expected 4.7%; last -0.5%); +17.9% year-over-year (expected 8.2%; last -3.4%)
In news:
China's Communist Party has proposed removing presidential term limits, paving the way for Xi Jinping to rule for life. Speculation about such a move has been on the rise since 'Xi Jinping Thought on Socialism with Chinese Characteristics' was added to the country's constitution in October.
In Japan, the approval rating of Prime Minister Shinzo Abe's cabinet has edged up to 56% from 55%.

Major European indices hold modest gains across the board. Germany's DAX +0.4%, France's CAC +0.6%, UK's FTSE +0.6%.
In economic data:
UK's Gross Mortgage Approvals 40,100 (expected 37,200; last 36,100)
Swiss Q4 Employment Level 4.962 mln (last 4.956 mln)
In news:
In the UK, Labour's Jeremy Corbyn is expected to voice support for permanent membership in the EU customs union following Brexit.
Bank of England Deputy Governor Dave Ramsden warned that interest may be increased sooner than expected if wage growth accelerates.
European Central Bank member Benoit Coeure said he is not eager to rush into normalizing the region's ultraloose monetary policy.

05:55AM ET
[BRIEFING.COM] S&P futures vs fair value: +12.30. Nasdaq futures vs fair value: +21.50.

05:55AM ET
[BRIEFING.COM] Nikkei...22154...+260.90...+1.20%. Hang Seng...31499...+231.40...+0.70%.

05:55AM ET
[BRIEFING.COM] FTSE...7270.07...+25.70...+0.40%. DAX...12538.24...+54.50...+0.40%.

04:30PM ET

[BRIEFING.COM] Stocks rallied on Friday, turning what was a disappointing week into a modest success. The Nasdaq Composite led the charge, adding 1.8%, while the S&P 500 and the Dow Jones Industrial Average climbed 1.6% and 1.4%, respectively. For the week, the three major averages finished with gains between 0.4% and 1.4%.

After trending sideways through the first hour of trading, the major averages began building on their opening gains, which were around 0.5% apiece, and nearly doubled them by midday. The rally then paused for about two hours as the S&P 500 wrestled with its 50-day simple moving average (2731), which proved to be an area of resistance on Thursday. The benchmark index eventually jumped above the key technical level and continued climbing--alongside the Dow and the Nasdaq--until the closing bell.

Friday's rally was broad, with 11 of 11 S&P 500 sectors finishing in positive territory.

The rate-sensitive utilities sector was the top-performing group, adding 2.7%, as Treasury yields slipped across the curve; the yield on the 2-yr note declined two basis points to 2.24%, while the yield on the benchmark 10-yr note tumbled five basis points to 2.87%. The top-weighted technology group (+2.2%) and the energy group (+2.2%) also outperformed on Friday.

Within the tech space, Hewlett Packard Enterprise (HPE 18.14, +1.73) and HP (HPQ 22.13, +0.74) rallied 10.5% and 3.5%, respectively, after the companies beat both earnings and revenue estimates, in addition to issuing upbeat profit guidance. HPE shares finished at a fresh all-time high.

As for energy, its outperformance was helped by an increase in the price of crude oil; WTI crude futures jumped 1.3% to $63.56/bbl, hitting a two-week high.

On the downside, the industrial sector (+0.8%) underperformed as Dow components Boeing (BA 356.66, +0.74), General Electric (GE 14.49, -0.01), and 3M (MMM 237.02, +1.02) finished the session little changed. The lightly-weighted telecom services sector (+0.8%) also struggled to keep pace with the broader market.

In corporate news, Nordstrom (JWN 53.56, +3.29) rallied 6.5% following reports that the Nordstrom family hopes to seal a deal to take the high-end retailer private before next Thursday, when the company is due to report its results for the fourth quarter. Meanwhile, General Mills (GIS 52.98, -1.97) declined 3.6% after agreeing to acquire Blue Buffalo (BUFF 40.00, +5.88) for $40 per share in cash.

Investors did not receive any economic data on Friday, but the Fed did release its Monetary Policy Report, which is expected to be a blueprint for new Fed Chair Jerome Powell's testimony before Congress next week. The Fed stayed on message in the report, calling for a path of gradual rate hikes and noting that it expects inflation to creep closer to the 2.0% year-over-year target as economic activity continues to expand at a moderate pace.

On Monday, investors will receive just one economic report, New Home Sales for January (Briefing.com consensus 645K), which will be released at 8:30 AM ET.

Nasdaq Composite: +6.3% YTD
S&P 500: +2.8% YTD
Dow Jones Industrial Average: +2.4% YTD
Russell 2000: +0.9% YTD

Week In Review: Eking Out a Last-Minute Win

Equities advanced this week thanks to a last-minute rally on Friday that reclaimed losses registered on Tuesday and Wednesday. The S&P 500 and the Dow Jones Industrial Average added around 0.5% apiece, while the tech-heavy Nasdaq Composite outperformed, jumping 1.4%. Markets were closed on Monday (February 19) in celebration of Presidents' Day.

The Wednesday release of the minutes from the January FOMC meeting was perhaps the most notable event of an otherwise relatively quiet week. The minutes were somewhat outdated considering the last FOMC meeting took place before a host of events that may have altered the Fed's perspective a bit, including the release of the CPI and PPI reports for January, the passing of a two-year budget deal in Congress that will increase spending by approximately $420 billion, and a sharp sell off on Wall Street.

Nonetheless, the minutes did reveal 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."

The yield on the benchmark 10-yr Treasury note ticked up to a four-year high on Wednesday following the minutes, closing at 2.94%, but slipped back to 2.87% by Friday's close--finishing flat for the week. Meanwhile, the 2-yr yield jumped to 2.26% following the minutes, its highest level since September 2008, but finished Friday at 2.24%--locking in a weekly gain of five basis points. In addition to the minutes, the 2-yr yield was also bolstered by a relatively weak 2-yr note auction on Tuesday.

In corporate news, shares of Wal-Mart (WMT) tumbled 10.2% on Tuesday after the world's largest retailer reported lower-than-expected earnings for the fourth quarter and issued disappointing profit guidance for fiscal year 2019. Conversely, Hewlett Packard Enterprise (HPE) rallied 10.5% to a new all-time high on Friday after reporting better-than-expected earnings and revenues and issuing upbeat profit guidance. HPE also announced a plan to return $7 billion to shareholders via share repurchases and a dividend increase.

As for the sector standings, seven of eleven S&P 500 groups finished the week in positive territory. The technology (+1.9%), materials (+1.3%), and energy (+1.0%) groups finished at the top of the leaderboard, while the consumer staples (-2.3%) and utilities (-2.4%) sectors finished at the bottom.

The S&P 500's 50-day simple moving average (2731) proved to be an area of resistance for the benchmark index on several occasions this week, the most notable of which was on Thursday when the S&P 500 retraced the entirety of a 1.2% intraday gain after hitting the key technical level. However, the S&P 500 finally managed to climb above its 50-day simple moving average on Friday, which helped fuel further buying to bring the index into positive territory for the week.

Following this week's trading, the S&P 500 is down 4.4% from the record high it hit on January 26.
Dow: +347.51… | Nasdaq: +127.30… | S&P: +43.34…
NASDAQ Adv/Dec 2163/766. …NYSE Adv/Dec 2421/529.

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)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
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