TheStrategyLab.com Price Action Trading Support Forum

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
It is currently Thu Mar 28, 2024 6:38 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: Feb 27th Tues Price Action Trade Result - Profit $2862.50
PostPosted: Wed Feb 28, 2018 12:12 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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
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)

Attachment:
022718-wrbtrader-Price-Action-Trading-Broker-PnL-Statement-Profit+2862.50.png
022718-wrbtrader-Price-Action-Trading-Broker-PnL-Statement-Profit+2862.50.png [ 75.45 KiB | Viewed 373 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 @ $2,862.50 dollars or +57.25 points, Light Crude Oil CL ($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 @ $2,862.50 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=2762

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: -299.24… | Nasdaq: -91.11… | S&P: -35.32…
NASDAQ Vol: 2.14 bln… Adv: 622… Dec: 1347…
NYSE Vol: 895.4 mln… Adv: 680… Dec: 2286…

Moving the Market

Stocks tumble as Fed Chairman Jerome Powell answers questions on Capitol Hill; says his economic projections have increased since the December FOMC meeting

Treasury yields climb, with 2-yr yield challenging last week's nine-year high

Sector Watch
Strong: Financials, Technology
Weak: Consumer Discretionary, Utilities, Telecom Services, Real Estate

04:25PM ET

[BRIEFING.COM] Equities dropped on Tuesday, giving back all of their Monday gains, as new Fed Chairman Jerome Powell delivered his first semiannual testimony on Capitol Hill. The S&P 500 tumbled 1.3%, while the Nasdaq Composite and the Dow Jones Industrial Average lost 1.2%. The major averages finished at their worst marks of the day following a sharp sell off in the final minutes. Meanwhile, the small-cap Russell 2000 underperformed with a loss of 1.5%, returning to its flat line for the year.

Fed Chairman Powell's prepared remarks, which were released before the opening bell, didn't contain any surprises. Mr. Powell stayed largely in line with his predecessor Janet Yellen, saying that he expects further gradual rate increases based on the economic outlook and that risks to the economy are roughly balanced.

Wall Street opened little changed following the release of Mr. Powell's prepared statement, then started ticking higher as he began fielding questions from the House Financial Services Committee. However, stocks dove into negative territory after Mr. Powell said his economic projections have increased since the December FOMC meeting, prompting investors to adjust their rate-hike expectations.

According to the CME FedWatch Tool, the market is still projecting three rate hikes for 2018, but the probability of a fourth rate hike increased to 33.1% from 24.4% on Monday. Meanwhile, the probability of a rate hike at the March FOMC meeting increased to 87.4% from 78.9% on Monday.

U.S. Treasuries moved lower in tandem with the equity market following Mr. Powell's aforementioned comment, pushing yields back towards the multi-year highs they hit last week. The 2-yr yield ended three basis points higher at 2.26%, one basis point below last Wednesday's nine-year high, while the benchmark 10-yr yield climbed five basis points to 2.91%, which is four basis points below the four-year high it hit last Wednesday.

The rise in yields helped the S&P 500's financial sector keep ahead of the broader market on Tuesday, but the group still finished with a loss of 0.9%. The top-weighted technology sector also outperformed with a loss of 0.9%, but the nine remaining groups finished with losses between 1.0% and 2.2%.

The consumer discretionary sector (-2.1%) was among the weakest groups, with Comcast (CMCSA 36.66, -2.92) dropping 7.4% to a three-month low after upping a bid from 21st Century Fox (FOXA 37.63, -1.18) to $31 billion for a large stake in British pay-television broadcaster Sky. Fox already owns 39% of Sky, but was looking to acquire the remaining stake. The news also weighed on Dow component Walt Disney (DIS 104.87, -4.94), which agreed to buy a big chunk of assets from Fox, including its stake in Sky. Fox and Disney lost 3.0% and 4.5%, respectively, on Tuesday.

Elsewhere within the consumer discretionary space, Macy's (M 28.40, +3.5) rallied 3.5%, hitting a 10-month high, after beating earnings estimates for the fourth quarter and issuing above-consensus guidance for fiscal year 2019. Conversely, AutoZone (AZO 654.47, -81.43) dropped 11.1% after missing quarterly profit estimates.

Overseas, equity indices in the Asia-Pacific region ended Tuesday on a mixed note, with Japan's Nikkei (+1.1%) showing relative strength, while the major European bourses ended a tick lower. The U.S. Dollar Index jumped 0.6% to 90.33, hitting its best level since February 9, with the greenback adding 0.7% against the euro (1.2232) and 0.4% against the Japanese yen (107.37).

Investors received several economic reports on Tuesday, including Durable Orders for January, the Consumer Confidence Index for February, International Trade in Goods for January, the S&P Case-Shiller Home Price Index for December, and the FHFA Housing Price Index for December:

January durable goods orders fell 3.7%, which is more than the 2.0% decrease expected by the Briefing.com consensus. The prior month's reading was revised to +2.6% (from +2.9%). Excluding transportation, durable orders decreased 0.3% (Briefing.com consensus +0.5%) to follow the prior month's revised increase of 0.7% (from +0.6%).
The key takeaway from the report is that there wasn't a lot of carryover order momentum from December, suggesting first quarter activity is proceeding at a slower pace.
The consumer confidence reading for February increased to 130.8 (Briefing.com consensus 126.5) from the prior month's revised reading of 124.3 (from 125.4).
The key takeaway from the report is that consumers are feeling more upbeat about current conditions, led by attitudes pertaining to business and labor market conditions.
The Advance report for International Trade in Goods for January showed a deficit of $74.4 billion (Briefing.com consensus -$72.2 billion), up from a revised deficit of $72.3 billion in December (from -$71.6 billion).
The Case-Shiller 20-city Index increased 6.3% in December (Briefing.com consensus +6.4%), while the November increase was left unrevised at 6.4%.
The FHFA Housing Price Index rose 0.3% in December (Briefing.com consensus +0.4%), while the November increase was revised to 0.5% from 0.4%.

On Wednesday, investors will receive another sizable batch of economic data: the weekly MBA Mortgage Applications Index will be released at 7:00 AM ET, the second estimate of fourth quarter GDP (Briefing.com consensus +2.5%) will be released at 8:30 AM ET, the Chicago PMI for February (Briefing.com consensus 64.5) will be released at 9:45 AM ET, and Pending Home Sales for January (Briefing.com consensus +0.4%) will be released at 10:00 AM ET.

Nasdaq Composite: +6.2% YTD
S&P 500: +2.6% YTD
Dow Jones Industrial Average: +2.8% YTD
Russell 2000: +0.1% YTD

Dow: -299.24… | Nasdaq: -91.11… | S&P: -35.32…
NASDAQ Adv/Dec 622/1347. …NYSE Adv/Dec 680/2286.

03:30PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.5% at 88.5909
Dollar index is currently up 0.57% at 90.36
Mar WTI Crude is down 1.56% on the day.
API data due out after the bell at 4:30 ET.
Futures settle $1 lower to $62.91/barrel.
In other energy, Mar Natural Gas settled down $0.01 at $2.68/MMBtu
On the metals:
Apr Gold lost $13.5 to settle at $1319.3/oz, while Mar silver lost $0.21 to $16.34/oz
Mar Copper dropped $0.03 to $3.19/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.79/bu.
Mar Soy settled down $0.01 at $10.49/bu.
Mar Wheat settled up $0.01 at $4.78/bu.

Dow: -192.27… | Nasdaq: -65.91… | S&P: -25.25…
NASDAQ Adv/Dec 626/1650. …NYSE Adv/Dec 757/2192.

02:55PM ET

[BRIEFING.COM] The major averages are near their session lows moving into the final hour of trading. The Nasdaq Composite and the S&P 500 are down 0.8% apiece, while the Dow Jones Industrial Average holds a loss of 0.6%.

Looking ahead, investors will receive another sizable batch of economic data on Wednesday: the weekly MBA Mortgage Applications Index will be released at 7:00 AM ET, the second estimate of fourth quarter GDP (Briefing.com consensus +2.5%) will be released at 8:30 AM ET, the Chicago PMI for February (Briefing.com consensus 64.5) will be released at 9:45 AM ET, and Pending Home Sales for January (Briefing.com consensus +0.4%) will be released at 10:00 AM ET.

As for earnings, Lowe's (LOW 96.09, -1.42) and TJX (TJX 77.79, -1.05) are due to report before Wednesday's opening bell.
Dow: -159.19… | Nasdaq: -57.56… | S&P: -20.90…
NASDAQ Adv/Dec 692/1753. …NYSE Adv/Dec 822/2117.

02:35PM ET

[BRIEFING.COM] The stock market is still hovering near session lows, little changed since the last update.

Today's top-performing sector, financials (-0.3%), just recently slipped into the red after holding a modest gain throughout the morning. The group has been underpinned by a rise in interest rates, which took off following comments from Fed Chairman Jerome Powell, who acknowledged that his economic growth projections have increased since the December FOMC meeting. Mr. Powell spoke before the House Financial Services Committee today, marking his first appearance as head of the Federal Reserve.

Within the financial space, Bank of America (BAC 32.55, +0.13) shows particular strength, rallying 0.5% to its best level since the financial crisis.
Dow: -152.57… | Nasdaq: -41.73… | S&P: -20.20…
NASDAQ Adv/Dec 771/1693. …NYSE Adv/Dec 894/2042.

02:05PM ET

[BRIEFING.COM] The stock market is still lower this afternoon, but hovering above its intraday low. The three major averages hold losses between 0.4% and 0.6%.

A look inside the Dow Jones Industrial Average shows that components Intel (INTC 50.09, +0.99) and Boeing (BA 367.73, +4.25) are outperforming, helping to keep the blue-chip average a step ahead of the S&P 500 and the Nasdaq. Boeing's advance follows news that the company has struck an Air Force One deal with the White House.

Elsewhere, gold futures settled Tuesday lower by 1.0% at a price of $1319.30/oz, which marks a two-week low. A stronger dollar weighed on the precious metal, which is priced in U.S. dollars; the U.S. Dollar Index is up 0.5% at 90.22--a two-week high.
Dow: -47.83… | Nasdaq: -50.01… | S&P: -11.10…
NASDAQ Adv/Dec 776/1745. …NYSE Adv/Dec 870/2055.

01:00PM ET

[BRIEFING.COM] Stocks have squandered a chunk of Monday's rally today, with the major averages showing losses between 0.1% and 0.5%. All eyes have been on Fed Chairman Jerome Powell, who is currently answering questions from the House Financial Services Committee. Today's appearance marks Mr. Powell's first as the head of the Federal Reserve.

In his semiannual testimony, Mr. Powell remained largely in line with his predecessor Janet Yellen, saying that he expects further gradual rate increases based on the economic outlook and that risks to the economy are roughly balanced. Mr. Powell's prepared statement was released in pre-market action and was followed by a flat open on Wall Street. Stocks ticked higher as Mr. Powell began taking questions from the committee, but dropped sharply into the red after he said his economic projections have increased since the December FOMC meeting.

At that meeting, the median FOMC member projected three rate hikes in 2018, so an improved economic outlook would presumably put a fourth hike on the table (at least that appears to be the market's thinking). The CME FedWatch Tool is still projecting three hikes for 2018, but the chances of a fourth hike have increased to 35.4% from 24.4% yesterday.

Treasury yields spiked following the aforementioned comment from Mr. Powell and are approaching the multi-year highs they hit last week. The 2-yr yield is four basis points above yesterday's close at 2.27%, which ties last week's nine-year high, while the benchmark 10-yr yield is up six basis points at 2.92%, three basis points below last week's four-year high. The U.S. Dollar Index has also rallied today, jumping 0.6% to 90.26--its best level in more than two weeks.

On Wall Street, nine of eleven S&P 500 sectors are trading in negative territory, with the consumer discretionary sector (-1.4%) being among the weakest groups. Within the space, Comcast (CMCSA 37.38, -2.20) has dropped 5.6% after bidding $31 billion to acquire a large stake in British pay-television broadcaster Sky, which would potentially upset the bid for Sky made by 21st Century Fox (FOXA 37.77, -1.04). Walt Disney (DIS 105.56, -4.25) has also been affected by the news, as it continues to mull a purchase of Fox's assets--which may or may not include an additional stake in Sky.

On a positive note, the heavily-weighted financial sector (+0.3%) has held up relatively well today, benefiting from the increase in Treasury yields, as have the industrial (+0.1%) and energy (+0.3%) groups. Within the industrial space, Dow component Boeing (BA 369.25, +5.77) is outperforming, up 1.6%, following reports that the industrial giant has reached an informal deal with the White House on a fixed price contract for two new Air Force One planes. The total price of the deal is set to be $3.9 billion, according to CNBC.

Investors received several economic reports on Tuesday, including Durable Orders for January, the Consumer Confidence Index for February, International Trade in Goods for January, the S&P Case-Shiller Home Price Index for December, and the FHFA Housing Price Index for December:

January durable goods orders fell 3.7%, which is more than the 2.0% decrease expected by the Briefing.com consensus. The prior month's reading was revised to +2.6% (from +2.9%). Excluding transportation, durable orders decreased 0.3% (Briefing.com consensus +0.5%) to follow the prior month's revised increase of 0.7% (from +0.6%).
The key takeaway from the report is that there wasn't a lot of carryover order momentum from December, suggesting first quarter activity is proceeding at a slower pace.
The consumer confidence reading for February increased to 130.8 (Briefing.com consensus 126.5) from the prior month's revised reading of 124.3 (from 125.4).
The key takeaway from the report is that consumers are feeling more upbeat about current conditions, led by attitudes pertaining to business and labor market conditions.
The Advance report for International Trade in Goods for January showed a deficit of $74.4 billion (Briefing.com consensus -$72.2 billion), up from a revised deficit of $72.3 billion in December (from -$71.6 billion).
The Case-Shiller 20-city Index increased 6.3% in December (Briefing.com consensus +6.4%), while the November increase was left unrevised at 6.4%.
The FHFA Housing Price Index rose 0.3% in December (Briefing.com consensus +0.4%), while the November increase was revised to 0.5% from 0.4%.

Dow: -16.04… | Nasdaq: -34.50… | S&P: -8.23…
NASDAQ Adv/Dec 867/1674. …NYSE Adv/Dec 952/1950.

12:25PM ET

[BRIEFING.COM] The major averages are trading at fresh session lows, showing losses between 0.5% and 0.9%.

In Europe, the major bourses finished Tuesday slightly lower; France's CAC settled just a tick below its flat line, while the UK's FTSE and Germany's DAX lost 0.1% and 0.3%, respectively. The euro is down 0.7% against the U.S. dollar at 1.2233, helping the U.S. Dollar Index climb to its best level since February 9 (90.31).

Through the first two sessions of the week, the Euro Stoxx 50 has climbed 0.4%.
Dow: -131.21… | Nasdaq: -65.65… | S&P: -20.35…
NASDAQ Adv/Dec 693/1876. …NYSE Adv/Dec 739/2161.

11:55AM ET

[BRIEFING.COM] The major averages are down between 0.2% and 0.6%. The tech-heavy Nasdaq shows relative weakness, while the Dow Jones Industrial Average shows relative strength as Boeing (BA 368.48, +4.97), the price-weighted Dow's most influential component, trades higher by 1.3%.

Boeing's positive performance follows reports that the industrial giant has reached an informal deal with the White House on a fixed price contract for two new Air Force One planes. The total price of the deal is set to be $3.9 billion according to CNBC. Today's advance places BA shares at a new all-time high.

The S&P 500's industrial sector, which houses Boeing, trades ahead of the broader market, hovering just 0.1% below its flat line.
Dow: -44.65… | Nasdaq: -44.22… | S&P: -11.84…
NASDAQ Adv/Dec 845/1776. …NYSE Adv/Dec 864/2021.

11:30AM ET

[BRIEFING.COM] The S&P 500 has trimmed its loss to 0.2% from 0.5% at its session low, which the index hit after Fed Chairman Powell said his economic projections have increased since the December meeting. Mr. Powell is still answering questions from the House Financial Services Committee.

Eight of eleven sectors are trading lower this morning, with the consumer discretionary space (-1.2%) being among the weakest performers. Within the space, Comcast (CMCSA 36.87, -2.70) has dropped 6.9% after bidding $31 billion to acquire a large stake in British pay-television broadcaster Sky, potentially upsetting 21st Century Fox's (FOXA 37.77, -1.04) bid for the company.

Walt Disney (DIS 105.04, -4.76) is also linked to the struggle over Sky as it continues to mull the purchase of Fox assets. DIS shares are down 4.2%.
Dow: -38.34… | Nasdaq: -35.86… | S&P: -10.22…
NASDAQ Adv/Dec 958/1699. …NYSE Adv/Dec 967/1899.

10:55AM ET

[BRIEFING.COM] Stocks have moved sharply lower since hitting session highs about 30 minutes ago. The S&P 500 was up 0.3%, but is now down 0.3%.

Fed Chairman Jerome Powell is currently answering questions from the House Financial Services Committee. In his prepared remarks, Mr. Powell stayed on script, saying that he expects further gradual rate increases based on the economic outlook and that risks to the economic outlook are roughly balanced.

Treasury yields have been moving higher as of late. The yield on the 2-yr note is four basis points above yesterday's close, hovering at 2.27%, while the yield on the 10-yr note is up three basis points at 2.89%. Meanwhile, the U.S. Dollar Index has climbed 0.7% to 90.35, challenging its best level of the month.
Dow: -57.13… | Nasdaq: -26.32… | S&P: -7.77…
NASDAQ Adv/Dec 1140/1519. …NYSE Adv/Dec 1141/1680.

10:30AM ET

[BRIEFING.COM] Commodities begin the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.29% at 88.7807
Dollar index is currently up 0.39% at 90.2
Mar WTI crude is down 0.39% on the day.
API data due out after the bell
Futures are $0.25 lower to $63.66/barrel.
In other energy, Mar natural gas is down $0.01 at $2.68/MMBtu
Metals:
Apr gold lost $7.20 and trades at $1325.60/oz, while Mar silver lost $0.13 to $16.42/oz
Mar copper dropped 0.04 to $3.18/lb
Finally, agriculture:
Mar corn is up $0.02 at $3.79/bu.
Mar soy is up $0.06 at $10.5175/bu.
Mar wheat is up $0.05 at $4.78/bu.

Dow: +7.41… | Nasdaq: +0.99… | S&P: +0.38…
NASDAQ Adv/Dec 1376/1301. …NYSE Adv/Dec 1447/1349.

10:05AM ET

[BRIEFING.COM] The major averages have ticked below their flat lines after opening with slim gains. The S&P 500 is down 0.1%.

Just in, the consumer confidence reading for February increased to 130.8 (Briefing.com consensus 126.5) from the prior month's revised reading of 124.3 (from 125.4).
Dow: -21.83… | Nasdaq: -17.89… | S&P: -2.48…
NASDAQ Adv/Dec 1285/1372. …NYSE Adv/Dec 1565/1151.

09:40AM ET

[BRIEFING.COM] The major averages are trading a tick above yesterday's closing levels.

Sectors are pretty evenly split between green and red. The financials (+0.5%), industrials (+0.4%), and energy (+0.4%) sectors are the top-performing groups, while the consumer discretionary (-0.3%), materials (-0.3%), and real estate (-0.7%) sectors trade at the back of the pack.

As a reminder, today's last economic report, the Consumer Confidence Index for February (Briefing.com consensus 126.5), will be released at 10:00 AM ET.
Dow: +50.69… | Nasdaq: +2.10… | S&P: +3.98…
NASDAQ Adv/Dec 1428/1132. …NYSE Adv/Dec 1645/966.

09:17AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +3.00.

The equity market is poised for a flat open, as the S&P 500 futures are trading just two points above fair value.

Investors have their eyes towards Capitol Hill this morning, where new Fed Chairman Jerome Powell will give the Fed's semiannual testimony on monetary policy before the House Financial Services Committee. Mr. Powell will begin speaking at 10:00 AM ET and then participate in a Q&A session, but his prepared remarks were released earlier.

His prepared testimony was pretty much on script, with some of the key talking points revolving around the shortfall in inflation as likely reflecting transitory influences, recent stock market volatility not weighing on the economic outlook, fiscal stimulus becoming more stimulative for the economy, and the risks to the outlook being roughly balanced. The overriding point, though, is that he expects further gradual rate increases based on the economic outlook. Sounds pretty status quo--and unsurprising--relative to what has been conveyed by other Fed officials.

U.S. Treasury yields are still mostly flat this morning, although the 2-yr yield has been ticking lower, dropping two basis points below yesterday's close to 2.21%. The yield on the benchmark 10-yr Treasury note, meanwhile, is unchanged at 2.86% after slipping one basis point on Monday.

In U.S. corporate news, Macy's (M 29.77, +2.32) has rallied 8.6% in pre-market trading after beating earnings estimates for the four quarter and issuing better-than-expected guidance for fiscal year 2019. Conversely, AutoZone (AZO 720.00, -15.90) has dropped 2.2% after missing earnings estimates, and Comcast (CMCSA 38.30, -1.28) has lost 3.2% after offering $31 billion for British pay-television broadcaster Sky, topping rival 21st Century Fox's (FOXA 38.39, -0.42) bid for the 61% of Sky it doesn't already own.

Investors have received several economic reports this morning, including Durable Orders for January, International Trade in Goods for January, the S&P Case-Shiller Home Price Index for December, and the FHFA Housing Price Index for December:

January durable goods orders fell 3.7%, which is more than the 2.0% decrease expected by the Briefing.com consensus. The prior month's reading was revised to +2.6% (from +2.9%). Excluding transportation, durable orders decreased 0.3% (Briefing.com consensus +0.5%) to follow the prior month's revised increase of 0.7% (from +0.6%).
The Advance report for International Trade in Goods for January showed a deficit of $74.4 billion (Briefing.com consensus -$72.2 billion), up from a revised deficit of $72.3 billion in December (from -$71.6 billion).
The Case-Shiller 20-city Index increased 6.3% in December (Briefing.com consensus +6.4%), while the November increase was left unrevised at 6.4%.
The FHFA Housing Price Index rose 0.3% in December (Briefing.com consensus +0.4%), while the November increase was revised to 0.5% from 0.4%.

Today's last economic report, the Consumer Confidence Index for February (Briefing.com consensus 126.5), will be released at 10:00 AM ET.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +0.80.

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

Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. China Securities Journal expects the People's Bank of China to increase its reverse repo rate once the Federal Reserve raises the fed funds rate in March. Samsung's Chief Technology Officer said the company will manufacture a 5G phone in the near future. The Bank of Korea left its repurchase rate unchanged at 1.50%, as expected.

In economic data:
South Korea's February Consumer Confidence 108 (last 110)
New Zealand's January trade deficit NZD566 million (expected deficit of NZD2.71 billion; last surplus of NZD596 million). January Imports NZD4.87 billion (expected NZD4.60 billion; last NZD4.89 billion) and January Exports NZD4.31 billion (expected NZD4.58 billion; last NZD5.49 billion)
Hong Kong's January trade deficit HKD31.90 billion (last deficit of HKD59.90 billion). January Imports 23.8% month-over-month (last 9.0%) and January Exports 18.1% month-over-month (last 6.0%)

---Equity Markets---

Japan's Nikkei rose 1.1%. Alps Electric, SUMCO, Tokyo Electron, Olympus, TDK, Suzuki Motor, Takeda Pharmaceutical, Canon, Okuma, Honda Motor, and Fanuc posted gains between 1.8% and 6.0%.
Hong Kong's Hang Seng lost 0.7%. Consumer names Want Want China and China Mengniu Dairy lost 3.0% and 2.3%, respectively, while financials and property names like Ping An Insurance, Bank of China, ICBC, HSBC, China Life Insurance, Hang Lung Properties, Henderson Land, SHK Properties, and China Overseas surrendered between 0.6% and 2.3%.
China's Shanghai Composite fell 1.1%. China Southern Airlines, Qingdao Haier, Baoshan Iron & Steel, Hengli Petrochemical, Anhui Conch Cement, Yanzhou Coal Mining, and Shanxi Coking lost between 4.0% and 7.6%.
India's Sensex shed 0.3%. Financials lagged with AXIS Bank, SBI, ICICI Bank, and Kotak Mahindra Bank falling between 1.0% and 2.7%. On the upside, Bharti Airtel and Hero MotoCorp gained 2.1% and 1.6%, respectively.

Major European indices trade near their flat lines with Germany's DAX (-0.5%) showing relative weakness. A German court ruled that cities should be allowed to impose driving bans on diesel cars to combat air pollution. Bundesbank President Jens Weidmann reiterated that the ECB should continue reducing asset purchases and it should have set a clear end date for the current program. Mr. Weidmann is expected to become the next ECB President. The UK's Foreign Minister Boris Johnson said the UK cannot remain subject to European Court of Justice rulings following Brexit.

In economic data:
Eurozone February Business and Consumer Survey 114.1 (expected 114.0; last 114.9). January M3 Money Supply +4.6% year-over-year, as expected (last 4.6%) and Private Sector Loans +2.9% year-over-year, as expected (last 2.9%)
France's February Consumer Confidence 100 (expected 103; last 104)
Italy's February Business Confidence 110.6 (expected 109.0; last 109.9) and Consumer Confidence 115.6 (expected 114.9; last 115.5)
Spain's February CPI +0.1% month-over-month (expected -0.1%; last -1.1%); +1.1% year-over-year (consensus 0.9%; last 0.6%)

---Equity Markets---

Germany's DAX has given up 0.4%. Fresenius ST is down 2.5% in response to disappointing results and outlook while heavyweights like BASF, Volkswagen, Siemens, BMW, Bayer, and Daimler show losses between 0.3% and 2.0%.
France's CAC hovers just below its flat line. Financials outperform with AXA, BNP Paribas, Credit Agricole, and Societe Generale rising between 0.4% and 1.0%. Automakers are mixed as Renault climbs 0.7% while Peugeot trades flat. Essilor International is the weakest performer, falling 2.8%.
UK's FTSE sits just above its unchanged level. Provident Financial has surged 77.0% after reaching a settlement with the Financial Conduct Authority. Broadcaster SKY has spiked 22.0% after receiving a $30 billion offer from Comcast. Financials like Standard Life, Old Mutual, and Barclays are up between 0.7% and 1.0%.


08:33AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: -9.50.

The S&P 500 futures trade two points below fair value.

Just in, January durable goods orders fell 3.7%, which is more than the 2.0% decrease expected by the Briefing.com consensus. The prior month's reading was revised to +2.6% (from +2.9%). Excluding transportation, durable orders decreased 0.3% (Briefing.com consensus +0.5%) to follow the prior month's revised increase of 0.7% (from +0.6%).

Separately, the Advance report for International Trade in Goods for January showed a deficit of $74.4 billion (Briefing.com consensus -$72.2 billion), up from a revised deficit of $72.3 billion in December (from -$71.6 billion).

08:01AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -3.30.

Equity futures are pointing towards a flat open this morning following a two-session rally, during which the S&P 500 advanced 2.8%, and ahead of Jerome Powell's first appearance as chairman of the Federal Reserve. The S&P 500 futures are trading one point above fair value.

All eyes are on Capitol Hill this morning, where new Fed Chairman Jerome Powell will give the Fed's semiannual testimony on monetary policy before the House Financial Services Committee. Mr. Powell will begin speaking at 10:00 AM ET, but his prepared remarks will be released beforehand at 8:30 AM ET. There is some nervousness ahead of the event as it marks Mr. Powell's first opportunity to share his policy insight as head of the Federal Reserve.

U.S. Treasury yields are relatively flat ahead of Mr. Powell's testimony, as is the U.S. dollar. The yield on the 10-yr Treasury note is up one basis point at 2.87%, returning to its flat line for the week, while the 2-yr yield is unchanged at 2.23%. Meanwhile, the U.S. Dollar Index is flat at 89.80.

Overseas, equity indices in the Asia-Pacific region ended Tuesday on a mixed note, with Japan's Nikkei showing relative strength, while the major European bourses currently trade near their unchanged marks. Germany's DAX is showing relative weakness, however, down 0.5%.

On the data front, investors will receive a slew of economic reports today: 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 U.S. corporate news:

Comcast (CMCSA 39.15, -0.43): -1.1% after offering $31 billion for British pay-television broadcaster Sky, topping rival 21st Century Fox's (FOXA 38.80, -0.01) bid for the 61% of Sky it doesn't already own.
AutoZone (AZO 710.00, -25.90): -3.5% after missing earnings estimates on in-line revenues.
Toll Brothers (TOL 48.70, +1.17): +2.5% after beating profit estimates.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. Japan's Nikkei +1.1%, Hong Kong's Hang Seng -0.7%, China's Shanghai Composite -1.1%, India's Sensex -0.3%.
In economic data:
South Korea's February Consumer Confidence 108 (last 110)
New Zealand's January trade deficit NZD566 million (expected deficit of NZD2.71 billion; last surplus of NZD596 million). January Imports NZD4.87 billion (expected NZD4.60 billion; last NZD4.89 billion) and January Exports NZD4.31 billion (expected NZD4.58 billion; last NZD5.49 billion)
Hong Kong's January trade deficit HKD31.90 billion (last deficit of HKD59.90 billion). January Imports 23.8% month-over-month (last 9.0%) and January Exports 18.1% month-over-month (last 6.0%)
In news:
China Securities Journal expects the People's Bank of China to increase its reverse repo rate once the Federal Reserve raises the fed funds rate in March.
Samsung's Chief Technology Officer said the company will manufacture a 5G phone in the near future.
The Bank of Korea left its repurchase rate unchanged at 1.50%, as expected.

Major European indices trade near their flat lines with Germany's DAX (-0.5%) showing relative weakness. France's CAC unch, UK's FTSE unch.
In economic data:
Eurozone February Business and Consumer Survey 114.1 (expected 114.0; last 114.9). January M3 Money Supply +4.6% year-over-year, as expected (last 4.6%) and Private Sector Loans +2.9% year-over-year, as expected (last 2.9%)
France's February Consumer Confidence 100 (expected 103; last 104)
Italy's February Business Confidence 110.6 (expected 109.0; last 109.9) and Consumer Confidence 115.6 (expected 114.9; last 115.5)
Spain's February CPI +0.1% month-over-month (expected -0.1%; last -1.1%); +1.1% year-over-year (consensus 0.9%; last 0.6%)
In news:
A German court ruled that cities should be allowed to impose driving bans on diesel cars to combat air pollution.
Bundesbank President Jens Weidmann reiterated that the ECB should continue reducing asset purchases and it should have set a clear end date for the current program. Mr. Weidmann is expected to become the next ECB President.
The UK's Foreign Minister Boris Johnson said the UK cannot remain subject to European Court of Justice rulings following Brexit.

05:53AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +2.50.

05:53AM ET
[BRIEFING.COM] Nikkei...22390...+236.20...+1.10%. Hang Seng...31269...-229.90...-0.70%.

05:53AM ET
[BRIEFING.COM] FTSE...7300.66...+11.10...+0.20%. DAX...12519.07...-8.00...-0.10%.

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.

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
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr