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
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 Post subject: March 8th Thursday Price Action Trade Result - No Trades
PostPosted: Thu Mar 08, 2018 10:59 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Price Action Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm & http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Users Reviews, Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Review of TheStrategyLab: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167 & http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Telephone: +1 708 572-4885
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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=2771

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: +93.85… | Nasdaq: +31.30… | S&P: +12.17…
NASDAQ Vol: 2.25 bln… Adv: 1557… Dec: 1355…
NYSE Vol: 765.0 mln… Adv: 1703… Dec: 1235…

Moving the Market

President Trump expected to sign tariff order this afternoon; AP reports that Mexico and Canada will be exempt from the tariffs indefinitely

European Central Bank leaves rates unchanged, as expected; drops promise to increase bond purchases if necessary

Investors look ahead to Friday's Employment Situation Report for February

Sector Watch
Strong: Health Care, Consumer Staples, Utilities, Real Estate
Weak: Financials, Industrials, Energy, Materials

04:30PM ET

[BRIEFING.COM] U.S. equities ticked higher on Thursday as investors awaited President Trump's official approval of tariffs on steel and aluminum imports, which he gave minutes before the closing bell. The S&P 500 finished with a gain of 0.5%, closing at its best mark of the day, while the Dow and the Nasdaq added 0.4% apiece.

The market drifted near its unchanged mark through most of Thursday's session, but volatility started to pick up in the afternoon following an Associated Press report that Canada and Mexico will be exempt indefinitely from the president's proposed tariffs; earlier reports said that the two countries would be exempt initially, but a continuation of that status was based on their willingness to renegotiate the North American Free Trade Agreement (NAFTA).

From there, equities bounced around during President Trump's press conference, which began just 30 minutes before the closing bell. The president signed two proclamations that implemented the tariffs on steel and aluminium imports, but exempted Mexico and Canada. However, Mr. Trump said he will give other nations the opportunity to justify why they should also not be included, emphasizing that he is seeking "fairness."

10 of 11 S&P sectors finished in positive territory, with countercyclical groups like health care (+0.7%), consumer staples (+0.9%), and utilities (+0.7%) closing at the top of the leaderboard. The energy sector (-0.1%) was the one declining group.

In corporate news, Express Scripts (ESRX 79.72, +6.30) jumped 8.6% after agreeing to be acquired by Cigna (CI 172.00, -22.25) for approximately $67 billion in cash and stock; conversely, Cigna dropped 11.5%. Meanwhile, Kroger (KR 22.98, -3.25) tumbled 12.4% to a three-month low after issuing disappointing profit guidance, and Costco (COST 185.69, -1.67) lost 0.9% after missing earnings estimates for its fiscal second quarter.

Meanwhile, Treasury yields settled Thursday a tick lower, with the benchmark 10-yr yield slipping one basis point to 2.87%.

In Europe, the European Central Bank left its key policy rates unchanged on Thursday, as expected, and removed from its policy statement a promise to increase its bond purchases if needed. The latter move was seen as a small step towards normalization following years of ultra-accommodative policy. In addition, the ECB reaffirmed that its net asset purchases will remain at a monthly pace of EUR30 billion until the end of September 2018, or beyond, if necessary.

The euro dropped 0.9% against the U.S. dollar to 1.2303 following the ECB decision, hitting a one-week low, while European equities rallied to new session highs. France's CAC led the charge, finishing Thursday with a gain of 1.3%, while Germany's DAX and the UK's FTSE added 0.9% and 0.6%, respectively.

In Asia, equity indices also ended Thursday in positive territory, adding between 0.5% and 1.5%.

Investors received just one economic report on Thursday, weekly Initial Claims, which came in higher than expected (231K actual vs 220K Briefing.com consensus). As for continuing claims, they declined to 1.870 million from a revised count of 1.934 million (from 1.931 million). The report will likely be glossed over as it doesn't alter the market's perspective on the claims trend, and it comes just one day ahead of the much more influential Employment Situation Report for February.

The Employment Situation Report for February will be released at 8:30 AM ET on Friday, and the Briefing.com consensus expects that it will show the addition of 210,000 nonfarm payrolls, an increase of 0.2% in average hourly earnings, and an unemployment rate of 4.0% (down from 4.1% in January).
Dow: +93.85… | Nasdaq: +31.30… | S&P: +12.17…
NASDAQ Adv/Dec 1557/1355. …NYSE Adv/Dec 1703/1235.

03:35PM ET

[BRIEFING.COM] Commodities ending the day lower

Overall, commodities, as measured by the Bloomberg Commodity Index, are -0.5% at 87.5878
The dollar index is +0.6% at 90.13, which is certainly helping weigh on commodities today
Energy:
Mar WTI crude oil futures settled -$0.99 at $60.16/barrel on the day
In other energy, Mar natural gas settled -$0.02 at $2.76/MMBtu
Precious metals:
Apr gold settled -$5.50 at $1322.10/oz, while Mar silver settled unch at $16.50/oz
Mar copper settled -$0.06 at $3.08/lb
In ag:
Following the USDA's monthly WASDE report, May corn settled +$0.035 at $3.908/bushe;
May soybeans -$0.02 at $10.635/bu
May wheat -$0.03 at $4.943/bu

Dow: +69.22… | Nasdaq: +27.14… | S&P: +10.13…
NASDAQ Adv/Dec 1607/1313. …NYSE Adv/Dec 1636/1280.

03:00PM ET

[BRIEFING.COM] Stocks have ticked higher in recent action following an Associated Press report that President Trump's proposed tariffs on steel and aluminum imports will take place within 15 days and Canada and Mexico will be exempt indefinitely. Earlier reports said that exemptions for the two countries would be tied to NAFTA negotiations.

The S&P 500, the Nasdaq, and the Dow are sporting gains between 0.1% and 0.3%.

Eight S&P sectors are trading in the green--consumer discretionary (+0.3%), industrials (+0.1%), technology (+0.3%), health care (+0.6%), consumer staples (+0.8%), utilities (+0.8%), telecom services (+0.1%), and real estate (+0.5%)--while three are trading in the red--financials (-0.1%), energy (-0.3%), and materials (-0.2%).

President Trump is expected to make an official announcement regarding the tariffs at 3:30 PM ET.
Dow: +53.73… | Nasdaq: +28.17… | S&P: +9.38…
NASDAQ Adv/Dec 1403/1293. …NYSE Adv/Dec 1548/1360.

02:30PM ET

[BRIEFING.COM] The broader market is little changed since our last update.

At 3:30 pm ET, President Donald Trump is expected to officially announce new tariffs on steel and aluminum imports. Steel names ArcelorMittal (MT 32.52, -1.04), Steel Dynamics (STLD 45.77, -1.56), and U.S. Steel (X 44.33, -1.35) all display relative weakness ahead of tonight's meeting at the White House, down more than 3% apiece.

Elsewhere, the US Dollar Index (90.17, +0.58) moves to its best levels of the session, higher by about 0.6%.
Dow: -69.78… | Nasdaq: +5.75… | S&P: -2.26…
NASDAQ Adv/Dec 1234/1495. …NYSE Adv/Dec 1354/1549.

02:00PM ET

[BRIEFING.COM] The major averages continue their modest move lower this afternoon with the S&P 500 and the Nasdaq Composite hovering near unchanged levels.

Financials (-0.6%) underperform the broader market today. Blue chip names JPMorgan Chase (JPM 114.20, -0.53), Bank of America (BAC 31.97, -0.20), Wells Fargo (WFC 56.34, -0.25), and Morgan Stanley (MS 56.42, -0.46) all show losses worse than 0.5%. Even with today's modest move lower, the space still boasts a 1.0% gain since Friday's close.

In cryptocurrencies, bitcoin (9360.70, -546.10) gave up the $9,100 level at one point today, showing relative weakness. Bitcoin now displays losses of about 5.5% vs 8% at today's lows, holding a nearly 15% decline since Monday.
Dow: -77.03… | Nasdaq: +8.49… | S&P: -1.93…
NASDAQ Adv/Dec 1274/1464. …NYSE Adv/Dec 1356/1530.

01:35PM ET

[BRIEFING.COM] The major U.S. indices have seen a modest move back lower since our last update as stocks remain mixed in afternoon trading.

A look inside the Dow Jones Industrial Average shows that IBM (IBM 155.65, -2.67), Intel (INTC 50.63, -0.69), & Chevron (CVX 112.78, -1.06) are underperforming. IBM is leading the Dow lower as shares pullback following yesterday's outperformance. Additionally, the company earlier hosted its annual Investor Briefing, through which it provided long term financial guidance.

Conversely, Johnson & Johnson (JNJ 130.73, +1.69) is the best-performing Dow component as health care displays relative strength in today's session.

For the week, the DJIA is currently +0.80%.
Dow: -65.70… | Nasdaq: +6.92… | S&P: -0.98…
NASDAQ Adv/Dec 1265/1484. …NYSE Adv/Dec 1359/1518.

01:00PM ET

[BRIEFING.COM] Stocks are little changed at midday as investors hit pause in front of President Trump's tariff announcement, which is scheduled for 3:30 PM ET, and tomorrow's release of the Employment Situation Report for February. The S&P 500 is flat, while the Nasdaq is a tick higher (+0.2%) and the Dow is a tick lower (-0.2%).

Investors will be looking for further details on how the president plans to carry out his proposed tariffs on steel and aluminum imports this afternoon; specifically, the market wants to know if additional exceptions will be made after White House Press Secretary Sarah Huckabee Sanders said on Wednesday that Canada and Mexico could be exempt.

The suggestion that the tariffs may not be applied universally helped Wall Street reverse losses on Wednesday and has helped keep it afloat today.

Meanwhile, in Europe, the European Central Bank left its key policy rates unchanged this morning, as expected, but, more notably, the ECB removed from its policy statement a promise to increase bond buying if necessary. The removal of the promise wasn't entirely unexpected as the market has been anticipating the ECB to start the process of dialing back its ultra-accommodative policy measures amid a gradually improving eurozone economy.

The euro has dropped 0.8% against the U.S. dollar to 1.2315 following the ECB decision, returning to its flat line for the week, while European equities finished Thursday on a broadly higher note; France's CAC led the rally, jumping 1.3%, while Germany's DAX and the UK's FTSE added 0.9% and 0.6%, respectively.

In Asia, equity indices also ended Thursday in positive territory, adding between 0.5% and 1.5%.

Corporate news has been pretty light today, but it's worth noting that Express Scripts (ESRX 80.54, +7.10) has spiked 9.6% after agreeing to be acquired by Cigna (CI 172.61, -21.63) for approximately $67 billion in cash and stock; conversely, Cigna is down 11.0%. Also, Kroger (KR 23.14, -3.08) has dropped 11.8%, hitting a three-month low, after issuing disappointing profit guidance, which has outweighed in-line earnings and revenues for the fourth quarter.

In the bond market, U.S. Treasuries are higher today, pushing yields lower across the curve; the benchmark 10-yr yield is down three basis points at 2.85%.

Investors received just one economic report this morning, weekly Initial Claims, which came in higher than expected (231K actual vs 220K Briefing.com consensus). As for continuing claims, they declined to 1.870 million from a revised count of 1.934 million (from 1.931 million).

This claims report will likely be glossed over for two reasons: (1) it doesn't alter the market's perspective on the claims trend and (2) the Employment Situation Report for February will be released on Friday.
Dow: -40.56… | Nasdaq: +16.76… | S&P: +1.18…
NASDAQ Adv/Dec 1364/1394. …NYSE Adv/Dec 1422/1456.

12:25PM ET

[BRIEFING.COM] U.S. equities are flat this afternoon, keeping their weekly gains intact; the S&P 500 is up 1.3% week to date.

In Europe, the major bourses advanced on Wednesday, closing with gains between 0.6% and 1.3%. The European Central Bank left its key policy rates unchanged, as expected, and removed from its policy statement a promise to increase bond buying if necessary. The removal of the promise was not entirely unexpected and was seen as a step towards the ECB dialing back its ultra-accommodative policy measures. The central bank confirmed that its monthly pace of net asset purchases will remain at EUR30 billion through at least September 2018.

The euro has dropped 0.7% against the U.S. dollar to 1.2319, returning to its flat line for the week.
Dow: -54.34… | Nasdaq: +10.86… | S&P: +0.29…
NASDAQ Adv/Dec 1254/1524. …NYSE Adv/Dec 1306/1537.

11:55AM ET

[BRIEFING.COM] The S&P 500 has returned to its flat line in recent trading, giving back a gain of around 0.3%.

In Washington, President Trump recently confirmed to reporters that he'll be announcing his decision regarding tariffs on steel and aluminum imports today at 3:30 PM ET. The president also said that he still likes Gary Cohn and could see him returning to the White House. Mr. Cohn resigned as Mr. Trump's top economic adviser on Tuesday.

Meanwhile, in the bond market, U.S. Treasuries are modestly higher moving into the afternoon. The 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, is down three basis points at 2.85% and is now down one basis point for the week.
Dow: -34.38… | Nasdaq: +13.52… | S&P: +0.21…
NASDAQ Adv/Dec 1386/1387. …NYSE Adv/Dec 1330/1474.

11:25AM ET

[BRIEFING.COM] The major averages have returned to their opening levels after a brief encounter with their flat lines. The S&P 500 is up 0.3%.

West Texas Intermediate crude futures, which are trading at $60.59 per barrel, were down as much as 1.5% today, but have since trimmed their decline to 0.9%. The government reported on Wednesday that U.S. crude inventories rose by 2.4 million barrels last week, with production climbing to 10.4 million barrels per day--a new record.

The decline in oil prices has weighed on the energy sector, which has slipped 0.3% in today's session. The group is among the worst-performing sectors for the year with a year-to-date loss of 7.8%; for comparison, the S&P 500 is up 2.3% year to date.
Dow: +60.13… | Nasdaq: +28.58… | S&P: +6.92…
NASDAQ Adv/Dec 1446/1307. …NYSE Adv/Dec 1405/1366.

10:55AM ET

[BRIEFING.COM] The equity market slipped to its flat line in recent trading, but has ticked back up into the green. Financial shares led the downward move.

A little more than half of the 11 S&P sectors are still trading in the green, but the heavily-weighted financial group has dropped 0.6% this morning, making it one of the worst-performing sectors. Within the space, giants JPMorgan Chase (JPM 113.58, -1.14) and Bank of America (BAC 31.91, -0.26) are down around 1.0% apiece.

The financial sector's weakness coincides with a decline in Treasury yields, which doesn't bode well for lenders' profit margins. The yield on the benchmark 10-yr Treasury note has declined to 2.85% after closing Wednesday's session at 2.88%.
Dow: +30.54… | Nasdaq: +15.93… | S&P: +3.18…
NASDAQ Adv/Dec 1423/1319. …NYSE Adv/Dec 1435/1312.

10:35AM ET

[BRIEFING.COM] Commodities are beginning the day lower

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.6% at 87.5200
Dollar index is currently +0.4% at 89.93
Looking at energy...
Mar WTI crude oil futures are now -$0.66 at $60.49/barrel
In other energy, Mar natural gas is -$0.03 at $2.75/MMBtu
Nat gas showed little reaction following the weekly EIA storage data, which showed a draw of 57 bcf vs. last week's draw of 78 bcf
Moving on to metals...
Apr gold is currently -$6.30 at $1321.30/oz, while Mar silver is -$0.01 at $16.48/oz
Mar copper is now -$0.06 at $3.08/lb

Dow: +46.77… | Nasdaq: +16.32… | S&P: +4.13…
NASDAQ Adv/Dec 1395/1260. …NYSE Adv/Dec 1425/1303.

10:00AM ET

[BRIEFING.COM] Stocks haven't moved much since the opening bell, with the S&P 500 still sporting a gain of 0.3%.

Kroger (KR 23.58, -2.66) has dropped 10.1%, hitting a three-month low, after disappointing profit guidance outweighed in-line Q4 earnings and revenues.

Meanwhile, Costco (COST 183.51, -3.85) is down 2.1% after missing profit estimates for its fiscal second quarter.
Dow: +84.57… | Nasdaq: +21.33… | S&P: +5.27…
NASDAQ Adv/Dec 1443/1232. …NYSE Adv/Dec 1449/1175.

09:40AM ET

[BRIEFING.COM] The major averages are modestly higher, sporting gains between 0.3% and 0.5%.

Most sectors are trading in the green, but gains have been limited; no group is up more than 0.5%. The technology (+0.5%) and industrials (+0.5%) sectors are the strongest groups, while the lightly-weighted telecom services (-0.3%) and real estate (-0.2%) sectors are the weakest.
Dow: +131.49… | Nasdaq: +32.16… | S&P: +8.44…
NASDAQ Adv/Dec 1714/884. …NYSE Adv/Dec 1671/848.

09:12AM ET
[BRIEFING.COM] S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +33.50.

Stocks look poised to open modestly higher, as the S&P 500 futures are trading nine points, or 0.3%, above fair value.

President Trump could sign an order to implement tariffs on steel and aluminum imports as soon as this afternoon, but investors have found solace in the notion that the tariffs won't be universally applied; the White House has carved out short-term exemptions for Canada and Mexico that could be extended depending on NAFTA renegotiations.

Meanwhile, the European Central Bank decided to keep its key policy rates unchanged, as expected. Its directive dropped the declaration that the Governing Council stands ready to increase the size and duration of its asset purchase program if necessary, signaling that the ECB is setting itself up to dial back its ultra-accommodative policy.

The euro is little changed against the U.S. dollar, down 0.1% at 1.2400, while European equities trade modestly higher.

In corporate news, Express Scripts (ESRX 85.38, +11.96) is up 16.2% in pre-market trading after agreeing to be acquired by Cigna (CI 183.00, -11.23) for approximately $67 billion in cash and stock. Conversely, Kroger (KR 24.44, -1.79) is down 6.8% despite reporting in-line earnings and revenues for the fourth quarter.

Investors received just one economic report this morning, weekly Initial Claims, which came in higher than expected (231K actual vs 220K Briefing.com consensus). As for continuing claims, they declined to 1.870 million from a revised count of 1.934 million (from 1.931 million).

U.S. Treasuries are slightly higher, pushing the benchmark 10-yr yield lower by one basis point to 2.87%.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +27.50.

The S&P 500 futures are trading four points, or 0.2%, above fair value.

Equity indices in the Asia-Pacific region ended Thursday on a higher note. China's trade data for February showed a much larger than expected surplus due to export growth outpacing imports by a wide margin. Korean press reported that North Korea's government expressed willingness for a conditional halt of its ICBM program. South Korea's Finance Minister Kim Dong-yeon said he does not expect the U.S. Treasury to label his country as a currency manipulator. Yonhap speculated that Samsung is likely to report a sequential decline in profit due to waning demand for displays.

In economic data:
China's February trade surplus $33.74 billion (expected $600 million; last $20.35 billion). February Imports +6.3% year-over-year (expected 9.7%; last 36.9%) and February Exports +44.5% year-over-year (expected 13.6%; last 11.1%)
Japan's Q4 GDP +0.4% quarter-over-quarter (expected 0.2%; last 0.1%); +1.6% year-over-year (consensus 0.9%; last 0.5%). GDP Price Index +0.1% year-over-year (expected 0.0%; last 0.0%). January adjusted Current Account surplus JPY2.02 trillion (expected surplus JPY1.76 trillion; last surplus JPY1.68 trillion). February Bank Lending +2.1% year-over-year (expected 2.4%; last 2.4%). February Economy Watchers Current Index 48.6 (expected 50.6; last 49.9)
Australia's January trade surplus AUD1.06 billion (expected AUD210 million; last deficit AUD1.15 billion). January Imports -2.0% month-over-month (last 6.0%) and January Exports +4.0% month-over-month (last 2.0%)

---Equity Markets---

Japan's Nikkei added 0.5%. Dainippon Screen Manufacturing, Tokyo Electron, SUMCO, Advantest, Daiichi Sankyo, Furukawa Electric, Kyocera, Trend Micro, NEC, Nitto Denko, Fanuc, TDK, Furukawa, and Sony gained between 1.2% and 4.9%.
Hong Kong's Hang Seng climbed 1.5%. Sands China jumped 4.1% while property names like Link Reit, Hang Lung Properties, Sino Land, and Wharf Real Estate advanced between 0.7% and 2.5%. Energy-related names lagged with PetroChina, CNOOC, and China Shenhua Energy falling between 0.6% and 2.3%.
China's Shanghai Composite gained 0.5%. Easysight Supply Chain Management, Zhejiang Huahai Pharmaceutical, YTO Express, Beijing Capital, and Metro Land rose between 5.3% and 6.8%.
India's Sensex advanced 1.0%. SBI jumped 4.1% while other financials were mixed. ICICI Bank, AXIS Bank, and HDFC Bank added between 0.9% and 3.6% while Kotak Mahindra Bank and Yes Bank lost 0.5% and 1.6%, respectively.

Major European indices trade mixed with Germany's DAX (-0.5%) showing relative weakness. The European Central Bank decided to leave its key policy rate unchanged, as expected, and ECB President Mario Draghi is currently in the middle of his post-decision Press Conference. Forza Italia's leader Silvio Berlusconi has voiced his support for allowing vocal euroskeptic Matteo Salvini to form a coalition government. The ECB Governing Council reportedly has no issues with Spain's Luis de Guindos becoming ECB's vice president.

In economic data:
Germany's January Factory Orders -3.9% month-over-month (expected -1.9%; last 3.0%)
Swiss February Unemployment Rate 2.9%, as expected (last 3.0%)

---Equity Markets---

Germany's DAX is lower by 0.5% with Merck falling 4.8% in response to disappointing results. Prosiebensat is down 5.0% ahead of being delisted, while Deutsche Bank, Volkswagen, Bayer, BASF, and Daimler show losses between 0.9% and 1.4%.
UK's FTSE hovers just above its flat line. Consumer names like Merlin Entertainments, ITV, Barratt Developments, Carnival, and InterContinental Hotels hold gains between 0.9% and 3.2%.
France's CAC trades up 0.4%. Engie has spiked 3.4% after beating expectations and boosting its dividend while STMicroelectronics, Valeo, Cap Gemini, Michelin, Accor, L'Oreal, and Peugeot are up between 0.7% and 1.7%.


08:32AM ET
[BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +30.30.

The S&P 500 futures are trading five points, or 0.2%, above fair value.

Just in, the latest weekly initial jobless claims count totaled 231,000, while the Briefing.com consensus expected a reading of 220,000. Today's tally was above the unrevised prior week count of 210,000. As for continuing claims, they declined to 1.870 million from a revised count of 1.934 million (from 1.931 million).

07:58AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +30.30.

Equity futures are slightly higher this morning, with the S&P 500 futures up five points (or 0.2%), following an afternoon rally on Wednesday that reversed considerable losses and left the major averages little changed. The S&P 500 is up 1.3% for the week, nearly all of which was registered on Monday.

President Trump is expected to sign an order to implement tariffs on steel and aluminum imports this afternoon following a week of heated debate. The president has faced opposition from congressional Republicans and members of the White House--including Gary Cohn, who resigned on Tuesday--as the tariffs are expected to be met with retaliation from other countries. However, investors have taken solace in the notion that the tariffs may not be universally applied, with the White House specifically carving out exemptions for Canada and Mexico.

The two nations are expected to be exempt from the tariffs for an initial 30-day period, and that exemption could be extended depending on progress in the renegotiation of the North American Free Trade Agreement (NAFTA), which has been slow going thus far.

In Europe, the European Central Bank decided to leave interest rates unchanged, as expected, but the real potential market mover will be ECB President Mario Draghi's press conference, which will begin at 8:30 AM ET. Any sense that the central bank might dial back its ultra-accommodative policy measures sooner than expected could lead to a knee-jerk reaction in the financial markets. The major bourses are mixed this morning, with France's CAC (+0.3%) showing relative strength.

Back in the U.S., the Treasury market is slightly lower this morning, pushing yields higher across the curve; the benchmark 10-yr yield is up one basis point at 2.89%. Meanwhile, the U.S. dollar is down 0.2% against the euro (1.2429) and flat against the Japanese yen (106.12).

Investors will receive just one economic report today, weekly Initial Claims (Briefing.com consensus 220K), which will be released at 8:30 AM ET.

In U.S. corporate news:

Express Scripts (ESRX 85.75, +12.33): +16.8% after agreeing to be acquired by Cigna (CI 183.00, -11.25) for approximately $67 billion in cash and stock.
Kroger (KR 24.80, -1.43): -5.5% despite reporting in-line earnings and revenues for the fourth quarter.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a higher note. Japan's Nikkei +0.5%, Hong Kong's Hang Seng +1.5%, China's Shanghai Composite +0.5%, India's Sensex +1.0%.
In economic data:
China's February trade surplus $33.74 billion (expected $600 million; last $20.35 billion). February Imports +6.3% year-over-year (expected 9.7%; last 36.9%) and February Exports +44.5% year-over-year (expected 13.6%; last 11.1%)
Japan's Q4 GDP +0.4% quarter-over-quarter (expected 0.2%; last 0.1%); +1.6% year-over-year (consensus 0.9%; last 0.5%). GDP Price Index +0.1% year-over-year (expected 0.0%; last 0.0%). January adjusted Current Account surplus JPY2.02 trillion (expected surplus JPY1.76 trillion; last surplus JPY1.68 trillion). February Bank Lending +2.1% year-over-year (expected 2.4%; last 2.4%). February Economy Watchers Current Index 48.6 (expected 50.6; last 49.9)
Australia's January trade surplus AUD1.06 billion (expected AUD210 million; last deficit AUD1.15 billion). January Imports -2.0% month-over-month (last 6.0%) and January Exports +4.0% month-over-month (last 2.0%)
In news:
China's trade data for February showed a much larger than expected surplus due to export growth outpacing imports by a wide margin.
Korean press reported that North Korea's government expressed willingness for a conditional halt of its ICBM program.
South Korea's Finance Minister Kim Dong-yeon said he does not expect the U.S. Treasury to label his country as a currency manipulator.
Yonhap speculated that Samsung is likely to report a sequential decline in profit due to waning demand for displays.

Major European indices trade relatively flat. France's CAC +0.4%, UK's FTSE unch, Germany's DAX -0.1%.
In economic data:
Germany's January Factory Orders -3.9% month-over-month (expected -1.9%; last 3.0%)
Swiss February Unemployment Rate 2.9%, as expected (last 3.0%)
In news:
The European Central Bank will release its latest policy statement today, but the statement is unlikely to discuss significant changes due to the uncertainty associated with the outcome of the Italian election.
Forza Italia's leader Silvio Berlusconi has voiced his support for allowing vocal euroskeptic Matteo Salvini to form a coalition government.
The ECB Governing Council reportedly has no issues with Spain's Luis de Guindos becoming ECB's vice president.

06:58AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +22.80.

06:58AM ET
[BRIEFING.COM] Nikkei...21368...+115.40...+0.50%. Hang Seng...30654.5...+457.60...+1.50%.

06:58AM ET
[BRIEFING.COM] FTSE...7158.88...+1.00...+0.00%. DAX...12204.24...-41.10...-0.30%.

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.

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

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

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

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


Best Regards,
M.A. Perry
Online user name wrbtrader (more info about me) @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850 & http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading (no indicators)
Trader and Founder of WRB Analysis (wide range body/bar analysis)
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