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 14th Weds Price Action Trade Result Profit $5637.50
PostPosted: Thu Mar 15, 2018 7:26 am 
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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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Attachment:
031418-wrbtrader-Price-Action-Trading-Broker-PnL-Statement-Profit+5637.50.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $5637.50 dollars or +112.75 points, Light Crude Oil CL ($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 @ $5637.50 dollars

Russell 2000 Emini RTY Futures: 1 tick or 0.10 = $5.00 dollars and there's more contract information @ CMEGroup (formerly as TF @ The ICE)
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=178&t=2775

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: -248.91… | Nasdaq: -14.20… | S&P: -15.83…
NASDAQ Vol: 2.09 bln… Adv: 1159… Dec: 1779…
NYSE Vol: 829.1 mln… Adv: 1249… Dec: 1683…

Moving the Market

S&P 500 tests its 50-day simple moving average (2747) as fears of a potential trade war continue to linger

Heavily-weighted financial sector struggles as yield curve flattens; industrial sector also shows particular weakness

Core Producer Price Index for February comes in as expected (+0.2%); February Retail Sales disappoint (-0.1% actual vs +0.3% Briefing.com consensus)

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

04:30PM ET

[BRIEFING.COM] The S&P 500 moved lower for the third consecutive session on Wednesday, losing 0.6%, as fears over a potential trade war continued linger. The Dow Jones Industrial Average did even worse, losing 1.0%, while the tech-heavy Nasdaq Composite held up relatively well, shedding just 0.2%.

Coming off last week's decision to impose tariffs on steel and aluminum imports, President Trump is now reportedly seeking to hit China with steep tariffs and investment restrictions that could be applied as early as next week. Those tariffs, which are expected to total as much as $60 billion, would initially be targeted towards information technology, telecoms, and consumer electronics as punishment for alleged intellectual property theft, but could eventually be much broader.

The White House also clarified a tweet that the president released last week, saying that Mr. Trump is looking to reduce China's trade surplus with the U.S. by $100 billion, and announced that longtime CNBC personality Larry Kudlow will replace Gary Cohn as President Trump's top economic advisor, as expected.

Stocks opened Wednesday's session with modest gains despite the continued tariff talk, but started moving lower almost immediately. The S&P 500 tested its 50-day simple moving average several times throughout the session, but buyers never let the index get too far below the key technical level. The benchmark index traded as low as 2744, but finished two points above its 50-day simple moving average at 2749.

Investors had a sizable batch of economic data to digest on Wednesday, including the February readings for the Producer Price Index and Retail Sales. Retail Sales disappointed, declining for a third straight month (-0.1% actual vs +0.3% Briefing.com consensus), but the January decrease was reduced to 0.1% from 0.3%.

The Producer Price Index, meanwhile, rose 0.2% in February, more than the Briefing.com consensus of 0.1%, and the core Producer Price Index also jumped 0.2%, as expected. Those monthly changes leave the PPI up 2.8% year over year (up from 2.7% in January) and the core CPI up 2.5% year over year (up from 2.2% in January).

All in all, Wednesday's data didn't give investors any reason to believe the Fed will hike rates more than three times this year. The year-over-year uptick in producer prices is notable, yet concerns about that trend were tempered somewhat by the realization that Tuesday's release of the Consumer Price Index for February didn't show any worrisome pass through effects to consumers.

Investors also received the Business Inventories report for January, which increased 0.6% as expected, but it didn't have much impact on trading.

U.S. Treasuries recorded their third consecutive advance on Wednesday, settling near session highs. The benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, declined four basis points to 2.82%, while the 2-yr yield slipped just one basis point to 2.25%, resulting in a flattening of the yield curve.

That flattening weighed on financials, as lenders rely on the difference between what they spend on deposits and what they charge for loans. The S&P's financial sector lost 1.2%, finishing alongside industrials (-1.1%), materials (-1.3%), and consumer staples (-1.3%) at the bottom of the sector standings.

Two of eleven sectors finished in the green though--the rate-sensitive utilities (+1.0%) and real estate (+0.1%) spaces.

In corporate news, Signet Jewelers (SIG 38.22, -9.69) tumbled 20.2%, hitting its lowest level in more than six years, after the diamond retailer reported a 5.2% decline in same store sales for the fourth quarter and lowered its guidance for fiscal year 2019. Meanwhile, Broadcom (AVGO 260.59, -0.63) lost 0.2% after terminating its offer to acquire Qualcomm (QCOM 60.12, +0.42) following an order from President Trump.

Looking ahead, investors will receive a big batch of economic data on Thursday, including export and import prices for February, the weekly Initial Claims report (Briefing.com consensus 226K), the Empire State Manufacturing Survey for March (Briefing.com consensus 15.0), the Philadelphia Fed Index for March (Briefing.com consensus 23.7), and the NAHB Housing Market Index for March (Briefing.com consensus 72). All but the NAHB Housing Market Index will be released at 8:30 AM ET; the NAHB Index will be released at 10:00 AM ET.

Nasdaq Composite: +8.6% YTD
S&P 500: +2.8% YTD
Dow Jones Industrial Average: +0.2% YTD
Russell 2000: +3.2% YTD

Dow: -248.91… | Nasdaq: -14.20… | S&P: -15.83…
NASDAQ Adv/Dec 1159/1779. …NYSE Adv/Dec 1249/1683.

03:40PM ET
[BRIEFING.COM]

Overall, commodities, as measured by the Bloomberg Commodity Index, are -0.2% at 87.6738
The dollar index is -0.01% at 89.69
Energy:
Mar WTI crude oil futures settled +$0.21 at $60.95/barrel on the day
In other energy, Mar natural gas settled -$0.05 at $2.73/MMBtu
Precious metals:
Apr gold settled -$1.20 at $1325.60/oz, while Mar silver settled -$0.02 to $16.54/oz
Mar copper settled +$0.02 at $3.16/lb

Dow: -286.36… | Nasdaq: -22.84… | S&P: -19.80…
NASDAQ Adv/Dec 1157/1756. …NYSE Adv/Dec 1212/1722.

03:00PM ET

[BRIEFING.COM] The major averages ticked to new lows in recent trading, but have since come up a bit. The S&P 500 is down 0.5%, hovering about three points above its 50-day simple moving average (2747), while the Nasdaq and the Dow show losses of 0.2% and 1.0%, respectively.

Looking ahead, investors will receive a big batch of economic data tomorrow, including export and import prices for February, the weekly Initial Claims report (Briefing.com consensus 226K), the Empire State Manufacturing Survey for March (Briefing.com consensus 15.0), the Philadelphia Fed Index for March (Briefing.com consensus 23.7), and the NAHB Housing Market Index for March (Briefing.com consensus 72).

As for earnings, Dollar General (DG 89.67, +0.12) will report before the opening bell, while Broadcom (AVGO 260.17, -1.05), Adobe Systems (ADBE 218.62, -1.14), and Ulta Beauty (ULTA 203.87, -4.53) are set to report following Thursday's close.
Dow: -208.66… | Nasdaq: -8.41… | S&P: -12.78…
NASDAQ Adv/Dec 1069/1516. …NYSE Adv/Dec 1286/1610.

02:30PM ET

[BRIEFING.COM] The tech-heavy Nasdaq Composite is still above yesterday's close as the heavily-weighted information technology (+0.4%) sector boasts the second-best advance on Wednesday, behind only utilities (+0.6%).

In cryptocurrencies, bitcoin is at a one-month low dating back to February 13, down 9% to about $8320, after hovering around $10K less than a week ago. The digital currency has seen a decline in trading volume as of late, coinciding with increased volatility in equities.

Alphabet's (GOOG 1154.43, +16.26, +1.4%) Google today announced plans to restrict the advertising of cryptocurrencies and related content in sweeping changes to its financial services policies.
Dow: -142.09… | Nasdaq: +6.98… | S&P: -7.03…
NASDAQ Adv/Dec 1163/1449. …NYSE Adv/Dec 1290/1594.

02:00PM ET

[BRIEFING.COM] Major averages haven't moved much since our last update as the benchmark index holds onto losses of about 0.2%.

In Europe, bourses ended a quiet Wednesday with losses of 0.1% in the FTSE, a 0.4% gain in the German DAX, and losses of 0.2% in the French CAC. European Central Bank President Mario Draghi commented on the euro, saying recent gains in the single currency aren't solely due to a stronger economy. Mr. Draghi added that the rate of change in the euro's value is more important than the overall level.

The euro is weaker against the U.S. dollar, down 0.1% at 1.2375, after opening the week with back-to-back gains.
Dow: -204.61… | Nasdaq: +19.17… | S&P: -10.18…
NASDAQ Adv/Dec 1314/1312. …NYSE Adv/Dec 1426/1448.

01:30PM ET

[BRIEFING.COM] The major U.S. indices remain under pressure at this time as stocks see a broad-based sell-off in today's trade.

A look inside the Dow Jones Industrial Average shows that Boeing (BA 330.52, -8.15), DowDuPont (DWDP 69.07, -1.50), & Johnson & Johnson (JNJ 132.34, -2.01) are underperforming.

Conversely, Cisco (CSCO 45.30, +0.14) is the best-performing Dow component as select technology names show relative strength in the face of widespread weakness seen across the market.

At current levels, the DJIA is down 2.23% this week.
Dow: -250.23… | Nasdaq: -8.62… | S&P: -14.97…
NASDAQ Adv/Dec 1084/1578. …NYSE Adv/Dec 1184/1674.

01:05PM ET

[BRIEFING.COM] Stocks began today's session with modest gains, but, like yesterday, the upbeat sentiment soon faded.

The major averages have come up from their session lows in recent action after the S&P 500 found support at its 50-day simple moving average (2747), but are still in the lower half of their trading ranges. The S&P 500 and the Dow are down 0.4% and 0.9%, respectively, while the Nasdaq hovers near its flat line.

Losses are broad today; nine of eleven S&P sectors are trading in the red. The industrial sector (-1.0%) is among the worst-performing groups, with Dow component Boeing (BA 327.50, -11.27) dropping 3.3% to a six-week low, while the financial sector (-0.8%) is also particularly weak, due in part to a flattening of the yield curve; the yield on the 2-yr Treasury note has held near its flat line (2.26%), but the benchmark 10-yr yield has dropped four basis points to 2.81%.

The decline in Treasury yields wasn't in direct response to this morning's batch of economic data, as the bulk of the move came a little while after the release of February Retail Sales and the February reading of the Producer Price Index.

Retail Sales disappointed, showing a decline of 0.1% (Briefing.com consensus +0.3%), but the January decrease was reduced to 0.1% from 0.3%. The Producer Price Index, meanwhile, rose 0.2% in February, more than the Briefing.com consensus of 0.1%, while the core Producer Price Index jumped 0.2%, as expected. Those monthly changes leave the PPI up 2.8% year over year (up from 2.7% in January) and the core CPI up 2.5% year over year (up from 2.2% in January).

All in all, today's data didn't really give the market a reason to believe the Fed will raise rates more than three times this year.

In corporate news, Signet Jewelers (SIG 39.14, -8.77) has tumbled 18.3%, hitting its lowest level in more than six years, after the diamond retailer reported a 5.2% decline in same store sales for the fourth quarter and lowered its guidance for fiscal year 2019. Conversely, Ford Motor (F 11.11, +0.33) is up 3.1% after shares were upgraded to 'Overweight' at Morgan Stanley.
Dow: -270.74… | Nasdaq: -13.43… | S&P: -15.69…
NASDAQ Adv/Dec 1066/1611. …NYSE Adv/Dec 1173/1689.

12:30PM ET

[BRIEFING.COM] The major averages continue to hover near recent levels, showing losses between 0.3% and 1.1%.

Transports are underperforming today, evidenced by the Dow Jones Transportation Average, which is down 1.2%. Within the DJTA, Alaska Air (ALK 66.49, -2.30) is the worst performer, losing 3.4%, while its peer United Continental (UAL 70.65, -1.95) is down 2.7% following another PR disaster.

In currencies, the U.S. Dollar Index is flat at 89.72. The greenback is up 0.2% against the euro (1.2372), but has lost 0.4% against the yen (106.16).
Dow: -280.02… | Nasdaq: -18.12… | S&P: -14.38…
NASDAQ Adv/Dec 1005/1691. …NYSE Adv/Dec 1186/1668.

11:55AM ET

[BRIEFING.COM] Today's sell off has accelerated, putting the S&P 500 (-0.5%) within three points of its 50-day simple moving average (2747).

10 of 11 S&P sectors are now in negative territory, with utilities (+0.9%) being the lone exception. The industrial sector (-1.1%) is currently the weakest group, led by Dow component Boeing (BA 324.87, -13.80), which is down 4.1%. Today's drop puts BA shares at a five-week low.

Elsewhere, the Atlanta Fed reduced its GDP estimate for the first quarter to 1.9% from 2.5% this morning following a disappointing Retail Sales report for February (-0.1% actual vs +0.3% Briefing.com consensus). That's significantly lower than its February 1 forecast of 5.4%.
Dow: -239.55… | Nasdaq: -19.65… | S&P: -11.11…
NASDAQ Adv/Dec 1000/1710. …NYSE Adv/Dec 1136/1699.

11:30AM ET

[BRIEFING.COM] Stocks have dropped to new lows in recent trading. The three major averages now show losses between 0.1% and 0.5%.

Shares of Signet Jewelers (SIG 39.64, -8.21) have tumbled 17.2%, hitting their lowest level in more than six years, after the diamond retailer reported a 5.2% decline in same store sales for the fourth quarter and lowered its guidance for fiscal year 2019. SIG is currently the worst-performing component in the S&P 500.

In the bond market, U.S. Treasuries have rallied to new highs in recent action, pushing the yield on the 10-yr note to 2.81% from 2.85% yesterday.
Dow: -115.85… | Nasdaq: -9.84… | S&P: -4.20…
NASDAQ Adv/Dec 1026/1720. …NYSE Adv/Dec 1224/1586.

10:55AM ET

[BRIEFING.COM] The S&P 500 has squandered its opening gain of around 0.3% and now trades near its Tuesday close. The Nasdaq Composite (+0.2%) has done slightly better than the benchmark index, while the Dow Jones Industrial Average (-0.2%) has done slightly worse.

Six sectors are trading in the red--financials (-0.1%), industrials (-0.3%), materials (-0.5%), consumer staples (-0.6%), telecom services (-0.3%), and real estate (unch)--while five are trading in the green--consumer discretionary (+0.3%), energy (+0.3%), technology (+0.3%), health care (+0.2%), and utilities (+0.7%).

The Department of Energy reported 30 minutes ago that U.S. crude inventories rose by 5.0 million barrels last week, which is more than the 2.0 million barrel build that the consensus estimate was anticipating. WTI crude futures were up 0.4% ahead of the release and now trade higher by 0.1% at $60.75 per barrel.
Dow: -45.19… | Nasdaq: +13.70… | S&P: +0.89…
NASDAQ Adv/Dec 1293/1409. …NYSE Adv/Dec 1402/1355.

10:40AM ET
[BRIEFING.COM]

Commodities are beginning the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.1% at 87.7843
Dollar index is currently +0.13% at 89.82
Looking at energy...
Mar WTI crude oil futures are now -$0.09 at $60.62/barrel
In other energy, Mar natural gas is -$0.07 at $2.72/MMBtu
Moving on to metals...
Apr gold is currently -$3.40 at $1323.70/oz, while Mar silver is -$0.07 at $16.56/oz
Mar copper is now +$0.03 at $3.17/lb

Dow: -77.14… | Nasdaq: +1.02… | S&P: -2.11…
NASDAQ Adv/Dec 1203/1431. …NYSE Adv/Dec 1327/1392.

10:00AM ET

[BRIEFING.COM] Equity indices are a tick higher, with the S&P 500 sporting a gain of 0.1%.

Just in, Business Inventories increased 0.6% in January (Briefing.com consensus +0.6%). The December reading was revised to +0.6% from +0.4%.
Dow: +28.00… | Nasdaq: +4.86… | S&P: +4.20…
NASDAQ Adv/Dec 1332/1322. …NYSE Adv/Dec 1628/1038.

09:40AM ET

[BRIEFING.COM] The major averages are slightly higher, holding gains of around 0.2% apiece.

Nine of the 11 S&P sectors are trading in the green, but gains are limited; the utilities sector is the top performer with a gain of 1.1%, but no other group is up more than 0.4%. The consumer staples (-0.1%) and financials (-0.2%) sectors are the lone decliners.

As a reminder, Business Inventories for January (Briefing.com consensus +0.6%) will be released at 10:00 AM ET.
Dow: +54.16… | Nasdaq: +13.95… | S&P: +4.78…
NASDAQ Adv/Dec 1358/1218. …NYSE Adv/Dec 1695/887.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: +9.00. Nasdaq futures vs fair value: +32.00.

The stock market is on track for a higher open, as the S&P 500 futures are trading nine points, or 0.3%, above fair value.

Investors received two influential pieces of economic data this morning, the Producer Price Index for February and Retail Sales for February, but neither has had a significant impact on trading thus far. The Producer Price Index rose 0.2% in February, more than the 0.1% increase that the Briefing.com consensus was expecting, while the core Producer Price Index jumped 0.2%, as expected. Those monthly changes leave the PPI and the core PPI up 2.8% and 2.5%, respectively, year over year.

Meanwhile, retail sales slipped 0.1% last month, while the Briefing.com consensus expected an increase of 0.3%. However, the January decrease was reduced to 0.1% from 0.3%. Excluding autos, retail sales increased 0.2% in February (Briefing.com consensus +0.4%), while the January reading was revised to +0.1% from 0.0%.

The Fed-sensitive 2-yr yield ticked up from its flat line following the econ data and currently trades higher by two basis points at 2.28%. However, the 10-yr yield has remained flat at 2.85%. Equity futures had a limited response to the data, keeping within their tight overnight ranges.

Today's last economic report, Business Inventories for January (Briefing.com consensus +0.6%), will be released at 10:00 AM ET.

In corporate news, Ford Motor (F 11.25, +0.47) is up 4.4% in pre-market trading after shares were upgraded to 'Overweight' at Morgan Stanley. Meanwhile, Signet Jewelers (SIG 43.40, -4.51) has dropped 10.3% after issuing below-consensus earnings and revenue guidance for fiscal year 2019.

WTI crude futures are up 0.7% at $61.14 per barrel after the American Petroleum Institute reported that U.S. crude inventories increased by 1.2 million barrels last week, and stockpiles of gasoline declined by 1.3 million barrels. The Department of Energy will release the official inventory figures at 10:30 AM ET.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +9.50. Nasdaq futures vs fair value: +33.80.

The S&P 500 futures are trading 10 points, or 0.3%, above fair value.

Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note, taking a cue from the lower finish on Wall Street. The ongoing political crisis in Japan has reportedly led some funds to reduce their exposure to Japan with month-to-date outflows exceeding $2.00 billion. President Trump is reportedly looking to generate $60 billion from tariffs on Chinese goods, up from $30 billion that was expected previously. Reports from South Korea indicate the North and South may discuss declaring an end to the Korean war.

In economic data:
China's February Retail Sales +9.7% year-over-year (expected 10.0%; last 9.4%), February Industrial Production +7.2% year-over-year (expected 6.3%; last 6.2%), and February Fixed Asset Investment +7.9% year-over-year (expected 7.0%; last 7.2%)
Japan's January Core Machinery Orders +8.2% month-over-month (expected 5.3%; last -9.3%); +2.9% year-over-year (consensus 0.6%; last -5.0%)
Australia's March Westpac Consumer Sentiment +0.2% (last -2.3%)
New Zealand's Q4 Current Account -NZD2.77 billion quarter-over-quarter (expected -NZD2.45 billion; last -NZD4.68 billion)
South Korea's February Import Price Index +0.4% year-over-year (last -2.4%) and Export Price Index -1.3% year-over-year (last -3.7%)
India's February WPI Inflation +2.48% year-over-year (expected 2.50%; last 2.84%)

---Equity Markets---

Japan's Nikkei lost 0.9%. Kobe Steel fell 4.8% while Nissan Chemical Industries, Toho, Fast Retailing, Nitto Denko, Furukawa, Konami, SUMCO, Tokyo Electron, and Komatsu surrendered between 1.5% and 3.2%.
Hong Kong's Hang Seng ended lower by 0.5%. Apple suppliers AAC Technologies and Sunny Optical Tech posted respective losses of 2.8% and 2.2% while Hang Seng Bank, ICBC, China Construction Bank, and Citic Pacific lost between 1.2% and 1.4%.
China's Shanghai Composite fell 0.6%. Nanjing Chixia Development, Tibet Rhodiola Pharmaceutical, Shanghai Material Trading, Changyuan Group, and Beijing Airport High-Tech Park lost between 4.7% and 5.5%.
India's Sensex shed 0.1% amid losses in half of its components. Hero MotoCorp dropped 1.8% while Tata Steel, Bajaj Auto, Wipro, and Tata Consultancy lost between 0.2% and 1.3%. Financials outperformed with HDFC Bank, ICICI Bank, SBI, AXIS Bank, and Yes Bank rising between 0.3% and 1.9%.

Major European indices trade on a modestly higher note. European Central Bank President commented on the euro, saying recent gains in the single currency aren't solely due to a stronger economy. Mr. Draghi added that the rate of change in the euro's value is more important than the overall level. In Germany, Angela Merkel officially began her fourth term after a record-long government formation process.

In economic data:
Eurozone Q4 Employment Change +0.3% quarter-over-quarter, as expected (last 0.4%); +1.6% year-over-year (last 1.7%). January Industrial Production -1.0% month-over-month (expected -0.4%; last 0.4%); +2.7% year-over-year (consensus 4.7%; last 5.3%)
Germany's February CPI +0.5% month-over-month, as expected (last 0.5%); +1.4% year-over-year, as expected (last 1.4%)
Italy's January Retail Sales -0.5% month-over-month (expected -0.1%; last -0.9%); -0.8% year-over-year (last -0.2%)
Spain's January Retail Sales +2.2% year-over-year (last 0.6%)

---Equity Markets---

UK's FTSE is higher by 0.3%. Hikma Pharmaceuticals has spiked 8.3% while miners like Antofagasta, Anglo American, Glencore, and Rio Tinto are up between 1.2% and 3.3%. Consumer names like Next, GKN, British American Tobacco, Paddy Power, ITV, Marks & Spencer, and Diageo hold gains between 0.7% and 3.3%.
Germany's DAX trades up 0.5%. Adidas has spiked 10.6% in response to upbeat earnings and guidance while automakers like Volkswagen, BMW, and Daimler show gains between 0.3% and 1.3%.
France's CAC has added 0.3%. Publicis Groupe, Peugeot, Total, AXA, Louis Vuitton, Renault, and Michelin sport gains between 0.4% and 1.1% while Carrefour is the weakest performer, falling 1.2%.

08:35AM ET
[BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +39.50.

The S&P 500 futures are trading 11 points, or 0.4%, above fair value.

Just in, producer prices rose 0.2% in February (Briefing.com consensus +0.1%) and core producer prices increased 0.2% (Briefing.com consensus +0.2%). Year-over-year, producer prices are up 2.8% and core producer prices have risen 2.5%.

Separately, February retail sales slipped 0.1% (Briefing.com consensus +0.3%). The prior month's reading was revised to -0.1% from -0.3%. Excluding autos, retail sales increased 0.2% while the Briefing.com consensus expected an increase of 0.4%. The prior month's reading was revised to +0.1% from 0.0%.

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: +10.80. Nasdaq futures vs fair value: +36.80.

Equities dropped on Tuesday, with technology and financial shares pacing the retreat, but are on track to reclaim some of those losses at today's opening bell, as the S&P 500 futures are trading 11 points, or 0.4%, above fair value. For the week, the S&P 500 is down 0.8%.

Investors are still digesting reports released on Tuesday afternoon that President Trump is seeking to hit China with steep tariffs and investment restrictions as early as next week. Those tariffs would initially be targeted at information technology, consumer electronics, and telecoms as punishment for alleged intellectual property theft, but the list could eventually expand to 100 products, according sources cited by Reuters.

Overseas, equity indices in the Asia-Pacific region finished Wednesday in the red, with Japan's Nikkei (-0.9%) showing particular weakness, but the major European bourses are on course for a positive finish, sporting gains of around 0.4% apiece. German Chancellor Angela Merkel officially began her fourth term following a record-long government formation process.

Back in the States, Treasuries are flat ahead of this morning's batch of economic data, with the benchmark 10-yr yield unchanged at 2.85%. Retail Sales for February (Briefing.com consensus +0.3%) and the Producer Price Index for February (Briefing.com consensus +0.1%) will be released at 8:30 AM ET and have some market-moving potential, while the less-influential Business Inventories report for January (Briefing.com consensus +0.6%) will cross the wires at 10:00 AM ET.

Meanwhile, West Texas Intermediate crude futures are up 0.7% at $61.14 per barrel, trying to end a two-session losing streak, after the American Petroleum Institute reported that U.S. crude inventories increased by 1.2 million barrels last week, and stockpiles of gasoline declined by 1.3 million barrels. The Department of Energy will release the official weekly figures at 10:30 AM ET, with the consensus estimate calling for a build of around 2.0 million barrels for crude.

In U.S. corporate news:

Ford Motor (F 11.18, +0.40): +3.7% after being upgraded to 'Overweight' at Morgan Stanley.
Signet Jewelers (SIG 43.50, -4.41): -9.2% after issuing below-consensus earnings and revenue guidance for fiscal year 2019.
Express (EXPR 8.00, +0.60): +8.1% after beating earnings and revenue estimates for the fourth quarter.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note, taking a cue from the lower finish on Wall Street. Japan's Nikkei -0.9%, Hong Kong's Hang Seng -0.5%, China's Shanghai Composite -0.6%, India's Sensex -0.1%.
In economic data:
China's February Retail Sales +9.7% year-over-year (expected 10.0%; last 9.4%), February Industrial Production +7.2% year-over-year (expected 6.3%; last 6.2%), and February Fixed Asset Investment +7.9% year-over-year (expected 7.0%; last 7.2%)
Japan's January Core Machinery Orders +8.2% month-over-month (expected 5.3%; last -9.3%); +2.9% year-over-year (consensus 0.6%; last -5.0%)
Australia's March Westpac Consumer Sentiment +0.2% (last -2.3%)
New Zealand's Q4 Current Account -NZD2.77 billion quarter-over-quarter (expected -NZD2.45 billion; last -NZD4.68 billion)
South Korea's February Import Price Index +0.4% year-over-year (last -2.4%) and Export Price Index -1.3% year-over-year (last -3.7%)
India's February WPI Inflation +2.48% year-over-year (expected 2.50%; last 2.84%)
In news:
The ongoing political crisis in Japan has reportedly led some funds to reduce their exposure to Japan with month-to-date outflows exceeding $2.00 billion.
President Trump is reportedly looking to generate $60 billion from tariffs on Chinese goods, up from $30 billion that was expected previously.
Reports from South Korea indicate the North and South may discuss declaring an end to the Korean war.

Major European indices trade on a modestly higher note. UK's FTSE +0.3%, Germany's DAX +0.3%, France's CAC +0.4%.
In economic data:
Eurozone Q4 Employment Change +0.3% quarter-over-quarter, as expected (last 0.4%); +1.6% year-over-year (last 1.7%). January Industrial Production -1.0% month-over-month (expected -0.4%; last 0.4%); +2.7% year-over-year (consensus 4.7%; last 5.3%)
Germany's February CPI +0.5% month-over-month, as expected (last 0.5%); +1.4% year-over-year, as expected (last 1.4%)
Italy's January Retail Sales -0.5% month-over-month (expected -0.1%; last -0.9%); -0.8% year-over-year (last -0.2%)
Spain's January Retail Sales +2.2% year-over-year (last 0.6%)
In news:
European Central Bank President commented on the euro, saying recent gains in the single currency aren't solely due to a stronger economy. Mr. Draghi added that the rate of change in the euro's value is more important than the overall level.
In Germany, Angela Merkel officially began her fourth term after a record-long government formation process.

06:57AM ET
[BRIEFING.COM] S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +38.30.

06:57AM ET
[BRIEFING.COM] Nikkei...21777...-190.80...-0.90%. Hang Seng...31435...-166.40...-0.50%.

06:57AM ET
[BRIEFING.COM] FTSE...7151.91...+13.10...+0.20%. DAX...12262.39...+41.40...+0.30%.

04:30PM ET

[BRIEFING.COM] U.S. equities got off to a good start on Tuesday, but began declining soon thereafter, finishing the session on a broadly lower note. The S&P 500 and the Dow Jones Industrial Average ended with losses of 0.6% and 0.7%, respectively, while the Nasdaq Composite, which hit new all-time highs in the two prior sessions, dropped 1.0%.

The top-weighted technology and financials sectors, which comprise around 40% of the broader market combined, led Tuesday's tumble, dropping 1.2% and 1.1%, respectively. Cyclical sectors underperformed in general, while some countercyclical groups, like health care (+0.2%) and utilities (+0.2%), actually finished in the green.

Qualcomm (QCOM 59.70, -3.11) was the worst-performing component in the S&P 500 with a loss of 5.0%. The semiconductor giant sold off after President Trump blocked Broadcom's (AVGO 261.22, -1.62) takeover effort, citing risks to national security. Dow component General Electric (GE 14.43, -0.67) also had a disappointing performance, dropping 4.4%, after JP Morgan slashed its price target from $14 to $11, which is the lowest price forecast among the 16 research firms that cover GE.

The major averages were either at, or below, their flat lines by midday, but selling accelerated in the afternoon following a Politico headline that the White House could announce "steep" tariffs and investment restrictions on China as soon as next week. The threat of such action against China has been present for some time, so the headline wasn't unexpected per se. However, it did serve as a sobering reminder that the trade war issue is still simmering and could soon hit a boiling point if China decides to retaliate.

Separately, President Trump ousted Secretary of State Rex Tillerson on Tuesday and nominated CIA Director Mike Pompeo to replace him.

Investors received some key inflation data on Tuesday, the Consumer Price Index for February, and breathed a sigh of relief after it showed that consumer inflation is not accelerating in a worrisome fashion. The CPI increased 0.2% last month, as expected, after rising 0.5% in January. Meanwhile, the core CPI, which is seen as a better long-term gauge of inflation as it excludes the volatile categories of food and energy, also met expectations with a 0.2% month-over-month increase, down from 0.3% in January.

With those monthly changes, total CPI was up 2.2% year over year, which is more than the 2.1% reading registered in January, and core CPI was up 1.8%, unchanged from the 12 months ending January. The Fed aims for a year-over-year increase of 2.0% in core inflation, but prefers to use the PCE Price Index over the CPI.

In the bond market, U.S. Treasuries ended Tuesday on a mostly higher note, with longer-dated issues pacing the advance. The benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, slipped two basis points to 2.85%. Meanwhile, the 2-yr yield finished flat at 2.26%.

Looking ahead, investors will receive a sizable batch of economic data on Wednesday: Retail Sales for February (Briefing.com consensus +0.3%) and the Producer Price Index for February (Briefing.com consensus +0.1%) will both be released at 8:30 AM ET, while the less influential Business Inventories report for January (Briefing.com consensus +0.6%) will cross the wires at 10:00 AM ET. Also of note, the Energy Information Administration will release its weekly crude inventory report at 10:30 AM ET.

Nasdaq Composite: +8.8% YTD
S&P 500: +3.4% YTD
Dow Jones Industrial Average: +1.2% YTD
Russell 2000: +3.7% YTD

Dow: -171.58… | Nasdaq: -77.31… | S&P: -17.71…
NASDAQ Adv/Dec 1056/1850. …NYSE Adv/Dec 1197/1743.

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

Image TheStrategyLab Review @ http://www.thestrategylab.com/thestrategylab-reviews.htm

Image Advance WRB Analysis Tutorial Chapters 4 - 12 @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm

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

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


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