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 1:25 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: March 7th Wednesday Price Action Trade Result - No Trades
PostPosted: Thu Mar 08, 2018 7:33 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)

Quote:
No trades today for me but you can read the below "Today's Trade Logs" to read the trade performance of other users in the chat room. As a reminder, you can join the chat room and watch it all in real-time but you'll need to post your own real-time trades too because the purpose of the free chat room is to be a trade journal of your trades & analysis...not a signal calling trade room.

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=178&t=2770

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=347&t=3682 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 discussed by members of TheStrategyLab

The Market at 04:30PM ET
Dow: -82.76… | Nasdaq: +24.64… | S&P: -1.32…
NASDAQ Vol: 2.16 bln… Adv: 1822… Dec: 1082…
NYSE Vol: 839.6 mln… Adv: 1542… Dec: 1356…

Moving the Market

President Trump's top economic advisor, Gary Cohn, resigns over differences on the president's proposed tariffs; reignites fears of a trade war

Technology and health care sectors show relative strength, help keep losses in check

White House says there could be carve outs for NAFTA partners Mexico and Canada, suggesting tariffs may not be applied in a universal manner

Sector Watch
Strong: Technology, Health Care, Real Estate
Weak: Consumer Discretionary, Energy, Consumer Staples, Utilities

04:30PM ET

[BRIEFING.COM] An afternoon rally left the U.S. equity market little changed on Wednesday as investors contemplated the resignation of White House Chief Economic Advisor Gary Cohn. The S&P 500 finished a tick below its flat line (-0.1%), breaking a three-session winning streak, while the Nasdaq did a little better (+0.3%) and the Dow did a little worse (-0.3%).

President Trump's proposed tariffs, which include a 25% duty on steel imports and a 10% duty on imports of aluminum, were reportedly the rift that caused Mr. Cohn's departure, which, in turn, underlined the seriousness of the White House on the matter. Mr. Trump indeed looks poised to push the tariffs forward, despite fears that they could lead to a trade war, with reports indicating that he would like to sign a presidential proclamation as early as Thursday.

It's worth noting, however, that White House Press Secretary Sarah Huckabee Sanders said there could be carve outs for NAFTA partners Mexico and Canada. The suggestion that the tariffs may not be applied in a universal fashion helped dial back the bearish sentiment on Wall Street.

The equity market looked as if it might give back all of its weekly gain immediately following news of Mr. Cohn's resignation, with the S&P 500 futures losing as much as 1.7% overnight. However, stocks quickly made a rebound attempt after opening lower. That attempt failed, but a second attempt in the afternoon proved successful, bringing the S&P 500 all the way back from a loss of 1.0%. The benchmark index touched positive territory for the first time with less than 30 minutes left in the session, but ticked back into the red in the final minutes.

Only three of eleven S&P 500 sectors finished in the green, but two of those three--technology (+0.6%) and health care (+0.5%)--are heavily-weighted, comprising around 40% of the broader market combined. Autodesk (ADSK 137.70, +17.83) was the tech sector's top-performing component, rallying 14.9%, after reporting better-than-expected earnings and revenues for the fourth quarter.

In other earnings news, Dollar Tree (DLTR 89.25, -15.11) and Ross Stores (ROST 75.40, -5.11) dropped sharply after both companies issued disappointing profit guidance; Dollar Tree also missed earnings estimates for the fourth quarter. The two retailers lost 14.5% and 6.4%, respectively.

Small caps outperformed in the midweek session, pushing the Russell 2000 higher by 0.8%, likely due to the fact that a trade war wouldn't have as harsh of an impact on smaller companies, which rely more on domestic consumers. Likewise, the S&P Mid Cap 400 added 0.2%.

Overseas, Asian equities sold off on Wednesday, but European shares advanced, with Germany's DAX (+1.1%) setting the pace. All eyes will be on the ECB's Governing Council meeting on Thursday, especially ECB President Mario Draghi's post-decision press conference. Any sense that the central bank might dial back its ultra-accommodative policy measures could lead to a knee-jerk reaction in the financial markets.

Investors received a big batch of economic data on Wednesday, highlighted by a higher-than-expected trade deficit for January (-$56.6 billion actual vs -$55.0 billion Briefing.com consensus), which marked the biggest deficit since October 2008. The key takeaway from the report is that trade will again be a drag on first quarter GDP growth.

The ADP National Employment Report for February, which is a prelude to Friday's Employment Situation Report, was also released, showing a larger-than-expected increase in nonfarm payrolls (235K actual vs 193K Briefing.com consensus). However, the ADP reading has proven unreliable in predicting the BLS nonfarm payrolls figure.

Elsewhere, U.S. Treasuries alternated between gains and losses on Wednesday, finishing little changed; the benchmark 10-yr yield climbed one basis point to 2.88%. Meanwhile, West Texas Intermediate crude futures dove 2.2% to $61.63 per barrel after the EIA reported U.S. crude inventories increased 2.4 million barrels last week. Estimates called for a build of around 2.7 million barrels.
Dow: -82.76… | Nasdaq: +24.64… | S&P: -1.32…
NASDAQ Adv/Dec 1822/1082. …NYSE Adv/Dec 1542/1356.

03:30PM ET
[BRIEFING.COM]

Overall, commodities, as measured by the Bloomberg Commodity Index, are down 1.1%% at 88.0368
The dollar index is largely flat (+0.03% at 89.59), so that's really not a driver today
Energy:
Mar WTI crude oil futures settled -$1.44 at $61.15/barrel on the day
In other energy, Mar natural gas settled +$0.03 at $2.78/MMBtu
Precious metals:
Apr gold settled -$7.90 at $1327.60/oz, while Mar silver settled -$0.27 to $16.50/oz
Mar copper settled -$0.02 at $3.14/lb

Dow: -72.45… | Nasdaq: +25.57… | S&P: -0.71…
NASDAQ Adv/Dec 1941/998. …NYSE Adv/Dec 1547/1337.

03:00PM ET

[BRIEFING.COM] The major averages are in the top half of their trading ranges, with the S&P 500 down 0.4%, moving into the final stretch.

Just in, the Consumer Credit report for January showed an increase of $13.9 billion (Briefing.com consensus $18.8 billion). December credit growth was revised to $19.2 billion from $18.4 billion.
Dow: -196.45… | Nasdaq: -0.55… | S&P: -11.36…
NASDAQ Adv/Dec 1722/877. …NYSE Adv/Dec 1339/1548.

02:25PM ET

[BRIEFING.COM] Equity indices haven't moved much since the last update. The S&P 500 still displays relative weakness, down 0.6%.

The Fed's Beige Book was released at the top of the hour, showing that economic activity expanded at a modest to moderate pace across the 12 Federal Reserve Districts in January and February. Employment grew at a moderate pace since the previous report, and, in many Districts, wage growth picked up to a moderate pace. Consumer spending was mixed though, with auto sales either declining or remaining the same in every District.

In relation to recent tariff talk on Capitol Hill, four Districts saw a marked increase in steel prices, due in part to a decline in foreign competition.

U.S. Treasuries didn't have much of a reaction to the release. The benchmark 10-yr yield is down about one basis point at 2.87%.
Dow: -242.35… | Nasdaq: +2.52… | S&P: -15.46…
NASDAQ Adv/Dec 1662/967. …NYSE Adv/Dec 1207/1661.

01:55PM ET

[BRIEFING.COM] The Nasdaq Composite has ticked modestly higher since our last update, now showing losses of 0.1% vs losses of 0.7% at today's lows. In the same vein, both the Dow Jones Industrial Average and the S&P 500 have trimmed their losses recently.

In commodities, gold futures set for April delivery gave back a portion of yesterday's gains, settling down about 0.6%, or $7.90, at $1327.60/oz.

The US dollar has gained in the face of a shallower equity and commodity market with the US Dollar Index recouping a portion of yesterday's weakness, now up about 0.2% to 89.64.

As a reminder, the February Beige Book is due out at the top of the hour.
Dow: -237.17… | Nasdaq: -8.54… | S&P: -15.51…
NASDAQ Adv/Dec 1660/1011. …NYSE Adv/Dec 1150/1701.

01:35PM ET

[BRIEFING.COM] The major U.S. indices remain under heavy pressure in afternoon trading as investors weigh the implications of Gary Cohn's departure from the White House.

A look inside the Dow Jones Industrial Average shows that ExxonMobil (XOM 73.75, -2.43), Caterpillar (CAT 149.47, -4.28), & General Electric (GE 14.24, -0.40) are underperforming. ExxonMobil is leading the Dow lower after holding its annual meeting with investment analysts. At the meeting the company unveiled plans to double earnings and cash flow from operations projected by 2025, but shareholders balked at the lack of a buyback announcement.

Conversely, IBM (IBM 156.73, +1.01) is the best-performing Dow component as technology displays relative strength in the face of broader market weakness.

At current levels, the DJIA is now down 1.47% this month.
Dow: -298.41… | Nasdaq: -27.84… | S&P: -21.62…
NASDAQ Adv/Dec 1601/1069. …NYSE Adv/Dec 1116/1727.

01:05PM ET

[BRIEFING.COM] Stocks have given back a good chunk of their weekly gains today following the resignation of President Trump's top economic advisor Gary Cohn. The three major averages are currently hovering near their session lows, with the S&P 500 showing a loss of 0.8%.

Mr. Cohn's departure, which was reportedly over differences regarding the president's proposed tariffs on steel and aluminum imports, has underlined the White House's resolve to move forward with the tariffs, which the market believes could lead to retaliation from other countries.

The trade deficit, which widened to $56.6 billion in January--its highest level since October 2008--from a revised reading of -$53.9 billion (from -$53.1 billion) in December, hasn't helped calm the heated trade debate, and will be a drag on first quarter GDP growth. The Briefing.com consensus expected a deficit of $55.0 billion.

10 of 11 S&P 500 sectors are trading in negative territory this afternoon, with economically-sensitive groups like financials (-1.1%), consumer discretionary (-1.2%), and energy (-1.4%) setting the pace as fears of a trade war reemerge. Small caps, however, have done relatively well today, likely due to the fact that a trade war wouldn't have as harsh of an impact on smaller companies, which rely more on domestic consumers. The small-cap Russell 2000 is up 0.2%.

In earnings news, Dollar Tree (DLTR 87.97, -16.37) and Ross Stores (ROST 75.81, -4.70) have dropped today after both companies issued disappointing profit guidance; Dollar Tree also missed earnings estimates for the fourth quarter. The two retailers are down 15.8% and 5.8%, respectively.

Conversely, Autodesk (ADSK 135.47, +15.66) has rallied 13.1% after reporting better-than-expected Q4 earnings and revenues. The software developer has helped the top-weighted technology sector (-0.1%) keep near its unchanged mark, which has in turn kept the broader market's loss in check.

In the bond market, Treasuries are modestly higher amid the equity sell off, pushing yields a tick lower; the yield on the 10-yr note is down one basis point at 2.86%.

Also of note, West Texas Intermediate crude futures have dropped 2.7% to $60.90 per barrel, hitting a three-week low. The Energy Information Administration reported that U.S. crude inventories increased by 2.4 million barrels last week, while estimates called for a build of around 2.7 million barrels.
Dow: -298.46… | Nasdaq: -23.37… | S&P: -20.03…
NASDAQ Adv/Dec 1577/1142. …NYSE Adv/Dec 1067/1767.

12:25PM ET

[BRIEFING.COM] The market has dropped to new lows in recent trading, with the major averages now showing losses between 0.6% and 1.3%.

In Europe, the major bourses finished Wednesday on a positive note, with Germany's DAX climbing 1.1% to extend its weekly gain to 2.8%. Italy's MIB also added a little more than 1.0%, even though the country still faces political uncertainty following Sunday's inconclusive election results.

Investors around the globe will be watching the ECB's Governing Council meeting tomorrow, with particular emphasis being placed on ECB President Mario Draghi's press conference. Any sense that the central bank might dial back its ultra-accommodative policy measures could lead to a knee-jerk reaction in the euro.

The single currency is currently down 0.1% against the U.S. dollar at 1.2397, hovering near a two-week high.
Dow: -331.94… | Nasdaq: -43.47… | S&P: -24.69…
NASDAQ Adv/Dec 1407/1321. …NYSE Adv/Dec 980/1836.

12:00PM ET

[BRIEFING.COM] The stock market is still lower moving into the afternoon, but small caps are outperforming, pushing the Russell 2000 higher by 0.4%.

Energy shares have been tumbling as of late, moving in tandem with the price of crude oil; the energy sector is down 1.2%, while West Texas Intermediate crude futures are down 1.7% at $61.56 per barrel. The energy sector, which initially had a positive reaction to the EIA's weekly inventory report, is now the weakest of the 11 S&P 500 groups.

In the bond market, U.S. Treasuries have returned to their flat lines after being up earlier in the session. The yield on the benchmark 10-yr note is unchanged at 2.87%.
Dow: -219.16… | Nasdaq: -21.15… | S&P: -15.60…
NASDAQ Adv/Dec 1551/1210. …NYSE Adv/Dec 1164/1630.

11:25AM ET

[BRIEFING.COM] Equities have slipped back to their opening levels in recent trading, with the S&P 500 now showing a loss of 0.6%.

In Washington, Axios is reporting that President Trump wants to sign a proclamation tomorrow to set his steel and aluminum tariffs in motion. The tariffs, which include a 25% duty on steel imports and a 10% duty on imports of aluminum, have been an area of contention on Capitol Hill and in the White House, leading to top economic advisor Gary Cohn's resignation on Tuesday. Opponents fear that the tarrifs will prompt other countries to retaliate, leading to a trade war.

Steel and aluminum names are rallying in response to the recent developments though, with U.S. Steel (X 46.60, +2.07) and Century Aluminum (CENX 21.55, +1.10) leading the charge; the two companies are up 4.6% and 5.5%, respectively.
Dow: -182.82… | Nasdaq: -23.43… | S&P: -14.87…
NASDAQ Adv/Dec 1570/1211. …NYSE Adv/Dec 1154/1613.

11:00AM ET

[BRIEFING.COM] The major averages have strengthened since the opening bell, with the S&P 500 trimming its loss to 0.3% from 0.6%. The Dow Jones Industrial Average (-0.4%) trades roughly in line with the benchmark index, while the tech-heavy Nasdaq outperforms, hovering a tick above its unchanged mark.

The Department of Energy reported that U.S. crude stockpiles increased by 2.4 million barrels last week, while estimates called for a build of around 2.7 million barrels. West Texas Intermediate crude futures have ticked up following the release, trimming their loss to 0.4% from 1.2%, and currently trade at $62.37 per barrel.

Meanwhile, the energy sector has trimmed its loss to 0.3% from 0.5% ahead of the release. Exxon Mobil (XOM 74.66, -1.52) is down 2.0%, however, despite outlining a plan that the company says will double its earnings by the year 2025.
Dow: -111.20… | Nasdaq: +1.92… | S&P: -7.57…
NASDAQ Adv/Dec 1800/977. …NYSE Adv/Dec 1335/1376.

10:35AM ET
[BRIEFING.COM]

Commodities are beginning the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.5% at 88.5260
Dollar index is currently +0.1% at 89.65
Looking at energy...
Mar WTI crude oil futures are now -$0.48 at $62.12/barrel
Oil initially pops higher following EIA data
In other energy, Mar natural gas is +$0.02 at $2.77/MMBtu
Moving on to metals...
Apr gold is currently -$6.20 at $1329.00/oz, while Mar silver is -$0.24 at $16.55/oz
Mar copper is now -$0.02 at $3.14/lb

Dow: -149.87… | Nasdaq: -10.92… | S&P: -10.93…
NASDAQ Adv/Dec 1545/1130. …NYSE Adv/Dec 1218/1493.

09:55AM ET

[BRIEFING.COM] The S&P 500 is hovering near its opening level, showing a loss of 0.6%.

More than half of the 11 sectors hold losses of 0.7% or more, but the outperformance of the technology sector (-0.2%)--which is the heaviest group by weight, representing around a quarter of the broader market--has helped keep the S&P 500's loss in check. Autodesk (ADSK 133.57, +13.76) is the tech group's top performer, jumping 11.4%, after reporting better-than-expected earnings and revenues for the fourth quarter on Tuesday evening.

As a reminder, the Energy Information Administration will release its weekly crude oil inventory report at 10:30 AM ET. West Texas Intermediate crude futures are currently down 0.6% at $62.21 per barrel, and the S&P 500's energy sector is lower by 0.7%.
Dow: -182.29… | Nasdaq: -34.41… | S&P: -17.06…
NASDAQ Adv/Dec 1091/1591. …NYSE Adv/Dec 758/1861.

09:40AM ET

[BRIEFING.COM] The major averages are lower in the opening minutes, showing losses between 0.4% and 0.6%.

All 11 S&P 500 sectors are trading in the red. The consumer discretionary sector (-1.0%) is among the weakest groups following a batch of fourth quarter retail earnings; Dollar Tree (DLTR 88.65, -15.64) is down 14.9% after missing profit estimates and issuing disappointing guidance, and Ross Stores (ROST 75.24, -5.26) trades lower by 6.5% after also issuing disappointing guidance.

The top-weighted technology sector is the strongest group, but still holds a loss of 0.1%.
Dow: -154.33… | Nasdaq: -22.74… | S&P: -13.40…
NASDAQ Adv/Dec 1132/1502. …NYSE Adv/Dec 824/1730.

09:17AM ET
[BRIEFING.COM] S&P futures vs fair value: -23.00. Nasdaq futures vs fair value: -44.00.

The stock market looks ready to drop at the opening bell, as the S&P 500 futures are trading 23 points, or 0.8%, below fair value.

President Trump's top economic advisor, Gary Cohn, resigned following Tuesday's close, reportedly over differences regarding the president's proposed tariffs on steel and aluminum imports. Mr. Cohn's resignation has underlined the White House's resolve to move forward with the tariffs, which has in turn reignited fears of a trade war.

In addition to Mr. Cohn's departure, investors have had to digest a large batch of economic data this morning. The ADP National Employment Report, which is a prelude to Friday' Employment Situation Report, showed a larger-than-expected increase in February nonfarm payrolls (235K actual vs 193K Briefing.com consensus). However, the ADP reading has proven to be an unreliable indicator in the past as it often deviates sharply from the reading produced by the Bureau of Labor Statistics.

Meanwhile, the January trade balance showed a larger-than-expected deficit of $56.6 billion (Briefing.com consensus -$55.0 billion), and fourth quarter unit labor costs and productivity were upwardly revised to 2.5% (from 2.1%) and 0.0% (from -0.1%), respectively.

Today's last economic reports, the Fed's Beige Book for February and January Consumer Credit (Briefing.com consensus $18.8 billion) will be released this afternoon at 2:00 PM ET and 3:00 PM ET, respectively.

In earnings news, Dollar Tree (DLTR 92.07, -12.29) is down 11.8% in pre-market trading after missing fourth quarter earnings estimates and issuing below-consensus profit guidance. Ross Stores (ROST 76.50, -4.01) is also down, losing 5.0%, after issuing disappointing profit guidance for fiscal year 2019, but Autodesk (ADSK 132.50, +12.63) is up 10.5% after beating earnings and revenues estimates for the fourth quarter.

Elsewhere, U.S. Treasuries are higher this morning, pushing the benchmark 10-yr yield lower by three basis points to 2.85%, while West Texas Intermediate crude futures are down 0.4% at $62.38 per barrel after the API reported a build of 5.7 million barrels on Tuesday evening. The Department of Energy will release the official weekly crude inventory figures at 10:30 AM ET.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: -23.00. Nasdaq futures vs fair value: -208.80.

The S&P 500 futures are trading 23 points, or 0.8%, below fair value.

Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note. Australia's GDP was a bit shy of estimates, but Reserve Bank of Australia Governor Philip Lowe showed little concern over the miss, noting that a policy adjustment is unlikely to take place in the short term and that the next rate-related move will likely be an increase. In Japan, Bank of Japan Deputy Governor nominee Masazumi Wakatabe said that he won't "automatically" call for more easing, but is not ruling out proposing extra easing. The United States government revealed that a new set of sanctions against North Korea took effect on March 5 in response to the DPRK's assassination of Kim Jong Nam in Kuala Lumpur in 2017.

In economic data:
Australia's February AIG Construction Index 56.0 (last 54.3). Q4 GDP +0.4% quarter-over-quarter (expected 0.5%; last 0.7%); +2.4% year-over-year (consensus 2.5%; last 2.9%)
Japan's January Leading Index 104.8 (expected 106.2; last 107.4). January Coincident Indicator -5.7% month-over-month (last 2.0%)
China's February FX Reserves $3.13 trillion (expected $3.16 trillion; last $3.16 trillion)

---Equity Markets---

Japan's Nikkei lost 0.8%. Kobe Steel fell 7.6% while Tokai Carbon, Mitsui Mining and Smelting, Mitsubishi Motors, Kawasaki Heavy Industries, Japan Steel Works, NSK, Komatsu, and Tokyo Electron posted losses between 2.1% and 5.0%.
Hong Kong's Hang Seng settled lower by 1.0% amid losses in most components. China Shenhua Energy, CNOOC, PetroChina, and China Resources Power surrendered between 1.9% and 3.9% while financials like China Life Insurance, AIA Group, Ping An Insurance, Bank of China, and HSBC posted losses between 0.9% and 2.2%.
China's Shanghai Composite lost 0.6%. Zhejiang Jiahua Energy Chemical, Aluminum Corp of China, KPC Pharmaceuticals, Shengyi Technology, and Fangda Special Steel Technology dropped between 3.8% and 4.0%.
India's Sensex settled with a loss of 0.9%. Adani Ports slid 6.5% amid concerns about the company's debt. Financials like SBI, ICICI Bank, HDFC Bank, and AXIS Bank fell between 0.8% and 3.8%.

Major European indices sport modest gains with Italy's MIB (+1.0%) showing relative strength, even though there has been no reported progress on the government formation front. The UK's Halifax House Price Index increased at its slowest rate in five years.

In economic data:
Eurozone Q4 GDP +0.6% quarter-over-quarter, as expected (last 0.6%); +2.7% year-over-year, as expected (last 2.7%)
UK's February Halifax House Price Index +0.4% month-over-month, as expected (last -0.5%); +1.8% year-over-year (consensus 1.6%; last 2.2%)
France's January trade deficit EUR5.60 billion (expected deficit of EUR3.70 billion; last deficit of EUR3.50 billion)

---Equity Markets---

UK's FTSE is higher by 0.2%. Rolls-Royce has spiked 13.2% after beating quarterly expectations while consumer names like Kingfisher, Next, Pearson, Merlin Entertainments, Barratt Developments, and Marks & Spencer show gains between 0.8% and 1.7%. On the downside, miners like Paddy Power, Glencore, Anglo American, BHP Billiton, Antofagasta, and Rio Tinto hold losses between 1.2% and 4.1%.
France's CAC has added 0.3% amid gains in half of its components. Atos, Vivendi, Safran, L'Oreal, Solvay, Pernod Ricard, and STMicroelectronics are up between 0.3% and 1.3% while financials lag. BNP Paribas, Credit Agricole, Societe Generale, and AXA hold losses between 0.2% and 2.0%.
Germany's DAX trades up 0.6%. Lufthansa has spiked 3.7% while SAP, BASF, Infineon, Deutsche Bank, Allianz, Adidas, and Linde have added between 0.3% and 2.1%. On the downside, Prosiebensat is down 4.9% in response to news that the company will be replaced by a basic materials name Covestro in the DAX.
Italy's MIB outperforms with a gain of 1.0%. Freni Brembo, Poste Italiane, and Pirelli have added between 1.3% and 3.7% while Mediobanca, Bper Banca, Intesa Sanpaolo, UniCredit, FinecoBank, and UBI Banca show gains between 0.6% and 1.6%.


08:33AM ET
[BRIEFING.COM] S&P futures vs fair value: -19.30. Nasdaq futures vs fair value: -38.00.

The S&P 500 futures are trading 19 points, or 0.7%, below fair value.

Just in, the January trade balance showed a deficit of $56.6 billion (Briefing.com consensus -$55.0 billion). The December deficit was revised to $53.9 billion from $53.1 billion.

Separately, fourth quarter unit labor costs were revised upward to 2.5% (Briefing.com consensus +2.1%) from +2.0% in the preliminary reading. Meanwhile, fourth quarter productivity was revised to 0.0% (Briefing.com consensus -0.1%) from -0.1% in the preliminary reading.

Released 15 minutes ago, the ADP National Employment Report showed an increase of 235,000 in February (Briefing.com consensus 193,000). The January reading was revised to 244,000 from 234,000.

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: -21.80. Nasdaq futures vs fair value: -45.50.

The stock market looks ready to give back the bulk of this week's gains following the resignation of President Trump's top economic advisor Gary Cohn. The S&P 500 futures are currently 22 points, or 0.8%, below fair value after losing as much as 45 points, or 1.7%, overnight.

Mr. Cohn's departure, which was reportedly over differences regarding the president's proposed tariffs on steel and aluminum imports, has underlined the White House's commitment to protectionist policies despite pushback from senior Republicans in Congress and potential retaliation from other countries.

Overseas, Asian equities sold off overnight, while the major bourses in Europe have managed to stay afloat. Italy's MIB (+0.8%) shows relative strength, even though there hasn't been any reported progress on forming a government following Sunday's inconclusive election results.

In the U.S. Treasury market, yields are lower this morning, with the benchmark 10-yr yield down three basis points at 2.85%.

Investors will receive a slew of economic data today, including the ADP Employment Change report for February (Briefing.com consensus 193K) at 8:15 ET, the revised readings for fourth quarter Productivity (Briefing.com consensus -0.1%) and Unit Labor Costs (Briefing.com consensus 2.1%) at 8:30 ET, the Trade Balance for January (Briefing.com consensus -$55.0 billion) at 8:30 ET, the Fed's Beige Book for February at 14:00 ET, and January Consumer Credit (Briefing.com consensus $18.8 billion) at 15:00 ET.

The weekly MBA Mortgage Applications Index cross the wires earlier this morning, showing an uptick of 0.3% to follow last week's increase of 2.7%.

In U.S. corporate news:

Dollar Tree (DLTR 94.00, -10.36): -9.9% after missing Q4 earnings estimates and issuing below-consensus profit guidance.
Ross Stores (ROST 76.00, -4.51): -5.6% after issuing below-consensus profit guidance for FY19.
Autodesk (ADSK 130.99, +11.12): +9.3% after beating Q4 earnings and revenue estimates.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note. Japan's Nikkei -0.8%, Hong Kong's Hang Seng -1.0%, China's Shanghai Composite -0.6%, India's Sensex -0.9%.
In economic data:
Australia's February AIG Construction Index 56.0 (last 54.3). Q4 GDP +0.4% quarter-over-quarter (expected 0.5%; last 0.7%); +2.4% year-over-year (consensus 2.5%; last 2.9%)
Japan's January Leading Index 104.8 (expected 106.2; last 107.4). January Coincident Indicator -5.7% month-over-month (last 2.0%)
China's February FX Reserves $3.13 trillion (expected $3.16 trillion; last $3.16 trillion)
In news:
Australia's GDP was a bit shy of estimates, but Reserve Bank of Australia Governor Philip Lowe showed little concern over the miss, noting that a policy adjustment is unlikely to take place in the short term and that the next rate-related move will likely be an increase.
In Japan, Bank of Japan Deputy Governor nominee Masazumi Wakatabe said that he won't "automatically" call for more easing, but is not ruling out proposing extra easing.
The United States government revealed that a new set of sanctions against North Korea took effect on March 5 in response to the DPRK's assassination of Kim Jong Nam in Kuala Lumpur in 2017.

Major European indices sport modest gains with Italy's MIB (+0.8%) showing relative strength, even though there has been no reported progress on the government formation front. UK's FTSE +0.1%, France's CAC +0.2%, Germany's DAX +0.5%.
In economic data:
Eurozone Q4 GDP +0.6% quarter-over-quarter, as expected (last 0.6%); +2.7% year-over-year, as expected (last 2.7%)
UK's February Halifax House Price Index +0.4% month-over-month, as expected (last -0.5%); +1.8% year-over-year (consensus 1.6%; last 2.2%)
France's January trade deficit EUR5.60 billion (expected deficit of EUR3.70 billion; last deficit of EUR3.50 billion)
In news:
The UK's Halifax House Price Index increased at its slowest rate in five years.


06:59AM ET
[BRIEFING.COM] S&P futures vs fair value: -29.30. Nasdaq futures vs fair value: -63.30.

06:59AM ET
[BRIEFING.COM] Nikkei...21253...-165.00...-0.80%. Hang Seng...30197...-313.80...-1.00%.

06:59AM ET
[BRIEFING.COM] FTSE...7145.07...-1.70...0.00%. DAX...12099.61...-14.30...-0.10%.

04:30PM ET

[BRIEFING.COM] Stocks finished modestly higher on Tuesday, notching their third consecutive victory, following a hard-fought battle between the bulls and the bears. The S&P 500 advanced 0.3%, while the Nasdaq Composite climbed 0.6% and the Dow Jones Industrial Average closed flat. The small-cap Russell 2000 outperformed, rallying 1.0%.

Investors continued weighing the possibility of a trade war on Tuesday, but pushback from some senior Republicans regarding tariffs on steel and aluminum imports, which President Trump pledged to implement last Thursday, helped ease concerns. House Speaker Paul Ryan (R-WI) encouraged the White House to narrow the focus of its plan, saying the current proposal--a 25% tariff on steel imports and a 10% tariff on imported aluminum--is too broad and leaves the U.S. open to retaliation.

Meanwhile, on the Korean Peninsula, reports indicated that North Korea and South Korea will hold their first summit in more than a decade in late April. North Korea is also reportedly open to discussing the end of its nuclear weapons program as long as the ruling regime is guaranteed security in return. However, investors remained skeptical as North Korea has a poor track record of keeping its promises.

U.S. equities opened Tuesday's session modestly higher following a positive overnight performance from overseas markets, but struggled to find sturdy ground. The S&P 500 drifted near its unchanged mark throughout the session (2721)--adding no more than 0.4% and limiting its loss to 0.4%--as it eyed its 50-day simple moving average (2738) off in the distance. The benchmark index never actually challenged the key technical level, backing away each time it looked as if it might make a run.

Nine of eleven S&P 500 sectors finished the session in positive territory, with the lightly-weighted materials space (+1.1%) leading the charge. The consumer discretionary sector (+0.7%) also outperformed despite a 4.5% decline in the shares of Target (TGT 71.79, -3.35). The retailer followed up a slightly disappointing fourth quarter earnings report with news that it will raise its minimum wage to $12 an hour (from $11) this spring and hopes to reach $15 an hour by 2020.

On the flip side, the utilities sector (-1.4%) finished at the bottom of the sector standings, giving back about three quarters of its Monday advance. The heavily-weighted health care sector also underperformed, closing with a loss of 0.1%.

Outside of the equity market, U.S. Treasuries finished Tuesday flat, leaving the benchmark 10-yr yield at 2.88%. Meanwhile, the U.S. Dollar Index closed below 90.00 for the first time in a week, dropping 0.4% to 89.57, and West Texas Intermediate crude futures finished flat at a price of $62.60 per barrel.

Investors received just one economic report on Tuesday, January Factory Orders, which showed a larger-than-expected decline (-1.4% actual vs -1.3% Briefing.com consensus). The key takeaway from the report is that it wasn't so much a reflection of a business downturn as it was a case of some understandable softness on the back of an extended pickup in new order activity.

Nasdaq Composite: +6.8% YTD
S&P 500: +2.0% YTD
Dow Jones Industrial Average: +0.7% YTD
Russell 2000: +1.7% YTD

Dow: +9.36… | Nasdaq: +41.30… | S&P: +7.18…
NASDAQ Adv/Dec 1894/1013. …NYSE Adv/Dec 2013/908.

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 Emmett Moore via TheStrategyLab.com Review @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167

Image The Strategy Lab: Valforex - The Manipulative Review Scam @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3676

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