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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 16th Friday Price Action Trade Result Profit $2375.00
PostPosted: Sat Mar 17, 2018 10:14 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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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2,375.00 dollars or +47.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $2,375.00 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=2777

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.

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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: +72.85… | Nasdaq: +0.25… | S&P: +4.68…
NASDAQ Vol: 2.97 bln… Adv: 1812… Dec: 1086…
NYSE Vol: 2.53 bln… Adv: 1975… Dec: 972…

Moving the Market

S&P 500 creeps above its 50-day simple moving average (2749), which has provided the index with support throughout the week

Top-weighted technology sector lags; Broadcom (AVGO) is pacing the retreat following its earnings release

Energy shares rally amid an increase in the price of crude oil

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

04:30PM ET

[BRIEFING.COM] Wall Street wrapped up a disappointing week on a positive note on Friday, in what was a quiet and fairly range-bound session. The S&P 500 advanced 0.2%, breaking a four-session losing streak, while the Dow and the small-cap Russell 2000 added 0.3% and 0.6%, respectively. The tech-heavy Nasdaq underperformed, closing a tick higher.

Gains were modest, but broad, with nine of eleven S&P sectors closing in the green. The energy group (+1.0%) was the top performer, benefiting from a jump in the price of crude oil; WTI crude futures rallied 2.0% to $62.35 per barrel. Conversely, the top-weighted technology sector (-0.1%) finished at the bottom of the leaderboard.

The technology group struggled for much of the session, keeping the broader market's gain in check, with Broadcom (AVGO 254.87, -12.89) showing particular weakness; the chipmaker dropped 4.8% even though it beat quarterly profit estimates. Tech-giant Alphabet (GOOGL 1134.42, -16.19) also struggled, losing 1.4%, but Adobe Systems (ADBE 225.55, +6.68) bucked the trend, rallying 3.1% after beating both earnings and revenue estimates for its fiscal first quarter.

Overseas, equity indices in the Asia-Pacific region ended Friday broadly lower, with Japan's Nikkei losing 0.6%, while the major bourses in Europe finished with gains of around 0.3% apiece. The U.S. dollar climbed 0.2% against the euro to 1.2287, but dropped 0.2% against the yen to 106.08.

In the bond market, U.S. Treasuries closed the week on a lower note, sending yields higher across the curve. The benchmark 10-yr yield climbed two basis points to 2.84%, while the 2-yr yield ticked up one basis point to 2.29%, which is its highest level since September 2008.

The relative weakness in the 10-yr note steepened the yield curve a bit, pushing the 10-2 spread to 55 basis points. This steepening helped underpin the financial sector (+0.2%) on Friday, but a decline in shares of Wells Fargo (WFC 55.90, -0.93) weighed on the group, leaving it roughly in line with the broader market. WFC shares lost 1.6% following a Wall Street Journal report that a federal investigation into the bank's sales practices now includes its wealth-management unit.

Investors received several pieces of economic data on Friday, including February Housing Starts and Building Permits, February Industrial Production and Capacity Utilization, the preliminary reading of the University of Michigan Consumer Sentiment Index for March, and the Job Openings and Labor Turnover Survey for January:

Housing starts decreased to a seasonally adjusted annualized rate of 1.236 million units in February (Briefing.com consensus 1.283 million), down from a revised 1.329 million units in January (from 1.326 million). Building permits decreased to a seasonally adjusted 1.298 million in February (Briefing.com consensus 1.330 million) from a revised 1.377 million in January (from 1.396 million).
Starts and permits were weaker than expected, yet the key takeaway is that there was some underlying detail in the report that helped offset the headline misses, namely the increase in single-family starts and the uptick in the number of units under construction.
Industrial Production increased 1.1% in February (Briefing.com consensus +0.3%), while the January reading was revised to -0.3% (from -0.1%). Meanwhile, Capacity Utilization ticked up to 78.1% (Briefing.com consensus 77.7%) from a revised reading of 77.4% in January (from 77.5%).
The key takeaway from the report is twofold: (1) manufacturing output was a core driver of the increase in industrial production and (2) capacity utilization hit its highest rate since January 2015, which will keep inflation expectations alive in the market narrative.
The preliminary reading of the University of Michigan Consumer Sentiment Index for March rose to 102.0 (Briefing.com consensus 99.5) from 99.7 in February.
The key takeaway from the report is that the gain in the Sentiment Index was driven entirely by households with incomes in the bottom third. Another notable takeaway is that near-term inflation expectations increased to their highest level in several years.
The January Job Openings and Labor Turnover Survey showed that job openings increased to 6.312 million from a revised 5.667 million (from 5.811 million) in December.

On Monday, investors will not receive any economic data.

Nasdaq Composite: +8.4% YTD
S&P 500: +2.9% YTD
Dow Jones Industrial Average: +0.9% YTD
Russell 2000: +3.3% YTD

Week In Review: Three Steps Forward, Two Steps Back

Equities reversed course this week, undoing about a third of last week's rally, as investors continued to search for equilibrium following the abrupt sell off in early February. Since that drop, the S&P 500 has had three up weeks and two down weeks, reclaiming around 60% of its nearly 300-point plunge. The S&P 500 lost 1.2% this week, while the Nasdaq Composite and the Dow Jones Industrial Average declined 1.0% and 1.5%, respectively.

Trade war talk continued this week following reports that President Trump is seeking to hit China with steep tariffs and investment restrictions as early as next week. Those tariffs, which are expected to total as much as $60 billion, would initially be targeted towards information technology, telecommunications, and consumer electronic products as punishment for alleged intellectual property theft, but could eventually expand to a broader range of products.

The proposed tariffs were cited as the primary driver of this week's sell off, as many believe they could lead to a tit-for-tat trade war between the world's two largest economies. Peter Navarro, Director of the White House National Trade Council, attempted to ease the tariff-induced fears in a CNBC interview on Thursday, assuring viewers that the U.S. can implement tariffs "in a way that is peaceful and will improve and strengthen the trading system."

In other political developments, the White House made some notable personnel changes this week--CIA Director Mike Pompeo replaced Rex Tillerson as Secretary of State, and longtime CNBC personality Larry Kudlow replaced Gary Cohn, who resigned last week, as the president's top economic advisor--and the New York Times reported on Thursday that Special Counsel Robert Mueller has subpoenaed the Trump Organization for documents, some of which relate to Russia.

Nine of eleven S&P sectors finished the week in negative territory, with materials (-3.2%) being the weakest performer. Materials giant Monsanto (MON) dropped 4.8% on Thursday following news that its pending merger with Bayer will likely face additional hurdles from antitrust officials.

Meanwhile, the consumer staples (-2.1%), industrials (-2.0%), and financials (-2.4%) sectors also showed particular weakness. Financials suffered amid a flattening of the yield curve, which doesn't bode well for lenders, as they rely on the difference between what they spend on deposits and what they charge for loans. The yield on the 2-yr note climbed three basis points to 2.29%, while the benchmark 10-yr yield dropped six basis points to 2.84%, cutting the 10-2 spread to 55 bps--its lowest level since late January.

On a positive note, the rate-sensitive utilities (+2.6%) and real estate (+1.3%) sectors finished the week in the green.

Investors received several influential economic reports this week, including the February readings for the Consumer Price Index, the Producer Price Index, Retail Sales, Housing Starts, and Building Permits. In short, the data didn't really give investors a reason to adjust their rate-hike expectations; it's all but certain that the Fed will hike rates at its meeting next week, and the Fed funds futures market is still pointing towards a total of three rate hikes this year--although the chances for a fourth hike are sitting at 34.3%.
Dow: +72.85… | Nasdaq: +0.25… | S&P: +4.68…
NASDAQ Adv/Dec 1812/1086. …NYSE Adv/Dec 1975/972.

02:55PM ET

[BRIEFING.COM] With one hour to go, the S&P 500 and the Dow are up 0.2% and 0.4%, respectively, while the Nasdaq trades flat.

Looking ahead, the Fed is all but certain to raise the Fed funds target range 25 basis points to 1.50%-1.75% on Wednesday, with the CME FedWatch Tool placing the chances of a rate hike at 94.4%. That hike would mark the first rate increase of 2018--the first of three according to the market's current forecast.

As for earnings, several heavyweights will be reporting results next week, including Oracle (ORCL 52.45, +0.07), FedEx (FDX 252.09, +4.69), Accenture (ACN 161.62, -1.24), Micron (MU 60.26, +1.42), and Nike (NKE 66.14, -0.25).
Dow: +91.92… | Nasdaq: -2.62… | S&P: +5.40…
NASDAQ Adv/Dec 1477/1090. …NYSE Adv/Dec 1904/976.

02:30PM ET

[BRIEFING.COM] The tech-heavy Nasdaq Composite underperforms on Friday with a loss of 0.1%, extending its week-to-date decline to 1.1%.

All S&P 500 sectors trade above yesterday's closing levels, except for information technology (-0.1%). Blue-chip tech names Apple (AAPL 178.41, -0.24, -0.1%), Microsoft (MSFT 94.09, -0.09, -0.1%), Alphabet (GOOG 1136.18, -13.39, -1.2%), and Cisco Systems (CSCO 45.15, -0.18, -0.4%) display relative weakness.

A look at the sectors in the green shows that energy (+1.0%), utilities (+0.5%), and industrials (+0.4%) display relative strength.
Dow: +66.90… | Nasdaq: -1.75… | S&P: +2.81…
NASDAQ Adv/Dec 1482/1112. …NYSE Adv/Dec 1890/975.

02:00PM ET

[BRIEFING.COM] The major averages still trade within their daily ranges as the S&P 500 sits slightly above its 50-day simple moving average (2748), on pace for its first green day of the week; despite today's move, the benchmark index is poised to close the week with a 1.4% loss.

European bourses closed recently with the FTSE, DAX, and CAC sporting gains better than 0.3% apiece. The indices are keeping their eyes averted as reports of a possible trade war between certain EU member countries and the U.S. with respect to steel and aluminum tariffs continue to be an overhang.

The eurozone's final February CPI reading contained a downward revision to 1.1% year-over-year from 1.2% in the preliminary reading. The ECB executive board member and chief economist, Peter Praet, said in a speech that the ECB needs to proceed at a gradual pace.

The euro is down 0.1% against the dollar at 1.2290.
Dow: +99.40… | Nasdaq: -4.88… | S&P: +5.67…
NASDAQ Adv/Dec 1478/1123. …NYSE Adv/Dec 1872/1001.

01:30PM ET

[BRIEFING.COM] The major U.S. indices are currently showing modest gains as the end of the trading week nears.

A look inside the Dow Jones Industrial Average shows that Wal-Mart (WMT 89.28, +1.77), Caterpillar (CAT 157.20, +2.63), & American Express (AXP 95.57, +1.18) are outperforming.

Conversely, General Electric (GE 14.26, -0.10) is the worst-performing Dow component as shares resume their downtrend in the wake of last week's relief rally.

Despite today's recovery, the DJIA is poised to close the week with losses of nearly 1.5%
Dow: +108.71… | Nasdaq: +1.80… | S&P: +7.44…
NASDAQ Adv/Dec 1565/1098. …NYSE Adv/Dec 1907/957.

12:55PM ET

[BRIEFING.COM] It's been a quiet day of trading thus far as investors look to finish a disappointing week on a positive note.

The S&P 500 is currently up 0.4%, looking to break a four session losing streak, but the underperformance of the top-weighted technology sector (-0.1%) has mitigated gains from the 10 other S&P groups. Meanwhile, the Dow is up 0.5%, the tech-heavy Nasdaq is flat, and the small-cap Russell 2000 is higher by 0.7%.

Broadcom (AVGO 256.36, -11.40) is the tech sector's worst-performing component, down 4.2%, despite reporting better-than-expected earnings on Thursday evening. Apple (AAPL 178.42, -0.23) and Alphabet (GOOGL 1136.34, -14.27) have also weighed on the group, losing 0.1% and 1.1%, respectively. However, Adobe Systems (ADBE 225.35, +6.48) is up 3.0% today after reporting better-than-expected earnings and revenues.

At the opposite end of the sector standings, the energy group is in the lead with a gain of 1.2%. The sector has benefited from an increase in the price of crude oil--WTI crude futures are up 1.7% at $62.22 per barrel--and is on course to end a four-session skid. Meanwhile, the heavily-weighed financial sector (+0.7%) is also outperforming, helped by a steepening of the yield curve; the 10-2 spread has increased by two basis points to 56 bps.

That's still eight basis points below last Friday's level, but the turnaround is encouraging nonetheless. The yield on the 2-yr note is up one basis point at 2.29%, while the yield on the benchmark 10-yr note is up three basis points at 2.85%.

Investors received several pieces of economic data on Friday, including February Housing Starts and Building Permits, February Industrial Production and Capacity Utilization, the preliminary reading of the University of Michigan Consumer Sentiment Index for March, and the Job Openings and Labor Turnover Survey for January:

Housing starts decreased to a seasonally adjusted annualized rate of 1.236 million units in February (Briefing.com consensus 1.283 million), down from a revised 1.329 million units in January (from 1.326 million). Building permits decreased to a seasonally adjusted 1.298 million in February (Briefing.com consensus 1.330 million) from a revised 1.377 million in January (from 1.396 million).
Starts and permits were weaker than expected, yet the key takeaway is that there was some underlying detail in the report that helped offset the headline misses, namely the increase in single-family starts and the uptick in the number of units under construction.
Industrial Production increased 1.1% in February (Briefing.com consensus +0.3%), while the January reading was revised to -0.3% (from -0.1%). Meanwhile, Capacity Utilization ticked up to 78.1% (Briefing.com consensus 77.7%) from a revised reading of 77.4% in January (from 77.5%).
The key takeaway from the report is twofold: (1) manufacturing output was a core driver of the increase in industrial production and (2) capacity utilization hit its highest rate since January 2015, which will keep inflation expectations alive in the market narrative.
The preliminary reading of the University of Michigan Consumer Sentiment Index for March rose to 102.0 (Briefing.com consensus 99.5) from 99.7 in February.
The key takeaway from the report is that the gain in the Sentiment Index was driven entirely by households with incomes in the bottom third. Another notable takeaway is that near-term inflation expectations increased to their highest level in several years.
The January Job Openings and Labor Turnover Survey showed that job openings increased to 6.312 million from a revised 5.667 million (from 5.811 million) in December.

Dow: +140.52… | Nasdaq: +8.78… | S&P: +10.69…
NASDAQ Adv/Dec 1679/981. …NYSE Adv/Dec 1991/861.

12:25PM ET

[BRIEFING.COM] The equity market has been slipping as of late, with technology shares leading the downward move.

Tech giants Apple (AAPL 178.09, -0.56) and Alphabet (GOOGL 1137.10, -13.51) are down 0.3% and 0.9%, respectively, while Facebook (FB 183.90, +0.04) and Microsoft (MSFT 94.22, +0.02) are also underperforming, hovering near their unchanged marks. Broadcom (AVGO 257.04, -10.72) is the tech sector's weakest performer, down 4.1%, despite reporting better-than-expected earnings on Thursday evening.

The top-weighted technology sector is now down 0.1%, but the S&P 500 is still modestly higher (+0.3%). Meanwhile, the tech-heavy Nasdaq touched negative territory for the first time today a few minutes ago, but is now a tick above its unchanged mark.
Dow: +118.21… | Nasdaq: +1.96… | S&P: +8.47…
NASDAQ Adv/Dec 1602/1083. …NYSE Adv/Dec 1936/910.

12:00PM ET

[BRIEFING.COM] The S&P 500 is up 0.4% moving into the afternoon, on track to register its first win of the week.

Although each of the 11 S&P sectors have advanced in today's session, nine currently hold week-to-date losses. The materials groups is the weakest performer, down 2.8% week to date, while the financials (-1.8% WTD), industrials (-2.0% WTD), and consumer staples (-1.8% WTD) groups also show particular weakness.

Conversely, the rate-sensitive utilities (+1.9% WTD) and real estate (+1.0% WTD) sectors hold weekly gains.
Dow: +95.99… | Nasdaq: +4.14… | S&P: +9.04…
NASDAQ Adv/Dec 1633/1075. …NYSE Adv/Dec 1988/846.

11:25AM ET

[BRIEFING.COM] Equity indices haven't changed since the last update.

A number of companies reported their quarterly results either last night or early this morning, including Adobe Systems (ADBE 225.04, +6.15), Broadcom (AVGO 258.00, -9.76), Ulta Beauty (ULTA 220.09, +13.89), Tiffany & Co (TIF 98.19, -4.49), and Buckle (BUK 19.10, +0.85). All five companies beat profit estimates, but only three are trading higher; ADBE, ULTA, and BUK shares are up between 2.8% and 6.8%, while AVGO and TIF shares are down around 3.9% apiece.

Looking ahead, Oracle (ORCL 52.54, +0.17) will kick off next week's round of earnings on Monday afternoon.
Dow: +92.48… | Nasdaq: +10.63… | S&P: +9.80…
NASDAQ Adv/Dec 1623/1124. …NYSE Adv/Dec 1794/996.

11:00AM ET

[BRIEFING.COM] The major averages have ticked up from their opening levels, extending their gains to around 0.4% apiece.

10 of 11 S&P sectors are higher this morning, sporting gains between 0.2% and 0.9%. The heavily-weighted financial space is the top performer with a gain of 0.9%, while the lightly-weighted real estate sector is the lone decliner with a loss of 0.2%.

In Europe, the major bourses have climbed to new highs since the U.S. open, with Germany's DAX (+0.8%) setting the pace.
Dow: +111.91… | Nasdaq: +24.84… | S&P: +11.86…
NASDAQ Adv/Dec 1681/1064. …NYSE Adv/Dec 1831/924.

10:35AM ET
[BRIEFING.COM]

Commodities are beginning the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.2% at 87.1386
Dollar index is currently +0.1% at 90.19
Looking at energy...
Mar WTI crude oil futures are now +$0.12 at $61.31/barrel
In other energy, Mar natural gas is -$0.01 at $2.68/MMBtu
Moving on to metals...
Apr gold is currently -$5.60 at $1321.70/oz, while Mar silver is -$0.14 at $16.28/oz
Mar copper is now unch at $3.13/lb

Dow: +97.30… | Nasdaq: +32.16… | S&P: +12.87…
NASDAQ Adv/Dec 1715/975. …NYSE Adv/Dec 1809/919.

10:00AM ET

[BRIEFING.COM] Equity indices continue hovering about 0.3% above their unchanged marks.

Just in, the preliminary reading of the University of Michigan Consumer Sentiment Index for March rose to 102.0 (Briefing.com consensus 99.5) from 99.7 in February.

Separately, the January Job Openings and Labor Turnover Survey showed that job openings increased to 6.312 million from a revised 5.667 million (from 5.811 million) in December.
Dow: +75.68… | Nasdaq: +19.30… | S&P: +8.44…
NASDAQ Adv/Dec 1379/1310. …NYSE Adv/Dec 1414/1216.

09:40AM ET

[BRIEFING.COM] The major averages are modestly higher, with the S&P 500 sporting a gain of 0.3%.

Most S&P sectors are trading in the green, but gains have been limited; the consumer staples space is the top performer with a gain of 0.6%, but no other group is up more than 0.4%. The materials space is trading at the back of the pack with a loss of 0.2%.

As a reminder, both the Job Openings and Labor Turnover Survey for January and the preliminary reading of the University of Michigan Consumer Sentiment Index for March (Briefing.com consensus 99.5) will be released at 10:00 AM ET.
Dow: +53.27… | Nasdaq: +13.39… | S&P: +7.49…
NASDAQ Adv/Dec 1352/1280. …NYSE Adv/Dec 1390/1165.

09:19AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +6.30.

The equity market is on track for a higher open, as the S&P 500 futures are trading five points, or 0.2%, above fair value.

In earnings news, Adobe Systems (ADBE 227.70, +8.83) is up 4.0% in pre-market trading after reporting better-than-expected earnings and revenues for the quarter ended February. Conversely, Tiffany & Co (TIF 96.85, -5.86) is down 5.7% after missing same store sales estimates and issuing slightly disappointing profit guidance.

Just released, Industrial Production increased 1.1% in February (Briefing.com consensus +0.3%), while the January reading was revised to -0.3% (from -0.1%). Meanwhile, Capacity Utilization ticked up to 78.1% (Briefing.com consensus 77.7%) from a revised reading of 77.4% in January (from 77.5%).

Investors also received February Housing Starts and Building Permits earlier this morning: Housing starts decreased to a seasonally adjusted annualized rate of 1.236 million units in February (Briefing.com consensus 1.283 million), down from a revised 1.329 million units in January (from 1.326 million). Building permits decreased to a seasonally adjusted 1.298 million in February (Briefing.com consensus 1.330 million) from a revised 1.377 million in January (from 1.396 million).

Today's last two pieces of economic data--the Job Openings and Labor Turnover Survey for January and the preliminary reading of the University of Michigan Consumer Sentiment Index for March (Briefing.com consensus 99.5)--will both be released at 10:00 AM ET.

In the bond market, Treasuries are lower this morning, pushing yields higher across the curve; the benchmark 10-yr yield is up two basis points at 2.84%.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +6.80. Nasdaq futures vs fair value: +16.80.

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

Asian markets were on the weaker side of things on Friday as Wall Street's wobbly performance on Thursday and trade war concerns seemed to weigh on sentiment. Fittingly, China's Shanghai Composite was among the notable laggards. Japan's Nikkei was, too, as a stronger yen helped keep buyers in check.

In news, Japan's parliament approved Governor Kuroda for a second 5-year term. Also, the political scandal continued to swirl in Japan as press reports noted Prime Minister Abe knew about altered documents in a private property transaction six days before the public was informed. The US Chamber of Commerce, meanwhile, warned President Trump against imposing big tariffs on China, saying they are a damaging tax on U.S. consumers.

In economic data:
Japan's January Industrial Production revised to -6.8% month-over-month (expected -6.6%) from -6.6%; January Capacity Utilization -7.3% month-over-month (expected -0.1%; last 2.8%)
New Zealand's February Business NZ PMI 53.4 (last 55.6)

---Equity Markets---

Japan's Nikkei declined 0.6%, finishing close to its low for the session with a stronger yen weighing. Tokai Carbon (-3.4%) was the biggest loser, followed by TDK Corp. (-3.3%), Tokuyama Corp (-2.7%), and Ricoh (-2.6%). Only a handful of stocks finished with a gain of more than 1.0%. Haseko (+3.9%) led that small pack.
Hong Kong's Hang Seng declined 0.1% after trading in a fairly tight range for most of the session. Ping An Insurance (+7.6%), MTR (+6.3%), and Tencent Holdings (+6.2%) were the best in show. Conversely, China Mengniu Dairy (-3.7%), Sino Land (-2.3%), Bank of E Asia (-1.6%), and PetroChina (-1.5%) brought up the rear.
China's Shanghai Composite declined 0.7% and went out at its lows for the day. Cultural Investment Holdings, Jiajiayue, Chlor-Alkali Chemical, and Anhui Hengyuan Coal sported losses between 4.4% and 5.2%. Beijing Qianjing Landscape, Baida Group, Beijing AriTime Intelligent Control, and Beijing Bashi Media traded in their own league, with each component gaining 10.0%.
India's Sensex declined 1.5% in what was a predominately trend-down day from the start. Coal India (-5.7%) and Tata Motors (-3.7%) led the way. There were only four components that averted a loss -- Yes Bank, Hindustan Unilever, Wipro, and Mahindra & Mahindra -- and their gains ranged from 0.2% to 0.9%.

European bourses are moving northward ahead of Wall Street's open, doing what they can to avoid the noise of trade war concerns that were amplified by reports the EU is preparing member countries for a trade war with the U.S. with respect to steel and aluminum tariffs. The financial services sector is outperforming and providing some influential support. The eurozone's final February CPI reading contained a downward revision to 1.1% year-over-year from 1.2% in the preliminary reading, which is not the direction the ECB is aiming for. The ECB's Praet said in a speech that the ECB needs to proceed at a gradual pace. The euro is up 0.2% against the dollar to 1.2324.

In economic data:
Eurozone's February Final CPI +1.1% year-over-year (expected 1.2%; last 1.2%); +0.2% month-over-month (expected 0.2%; last 0.2%). February Final Core CPI +1.0% year-over-year (expected 1.0%; last 1.0%)
Eurozone's Q4 wages +1.7% year-over-year (expected 1.8%; last 1.6%); Q4 Labor Cost Index +1.5% (last 1.6%)
Germany's February WPI +1.2% year-over-year (expected 1.5%; last 2.0%); -0.3% month-over-month (expected 0.2%; last 0.9%)
Italy's February Final CPI +0.5% year-over-year (expected 0.6%; last 0.5%); 0.0% month-over-month (expected 0.1%; last 0.1%)

---Equity Markets---

UK's FTSE is higher by 0.3%, underpinned by gains in the financial and mining sectors. Provident Financial (+2.1%), Glencore (+2.2%), Anglo American (+1.5%), Rio Tinto (+0.9%), BHP Billiton (+1.1%), Standard Chartered (+0.7%), and Barclays (+1.0%) are among the leadership stocks. Berkeley Group (-3.8%) and Tesco (-2.7%) sit atop the list of losers.
Germany's DAX is up 0.2% with gains in most components. The strongest performers are Merck, Lufthansa, Vonovia, Prosiebensat, Daimler, and Deutsche Telekom, which are up between 0.6% and 1.2%. E.ON SE (-1.4%) is the weakest performer.
France's CAC is up 0.1%, drawing support from its financial components. BNP Paribas (+0.9%), AXA (+1.0%), Credit Agricole (+1.1%), and Societe Generale (+1.0%) are today's best-performing issues. Airbus (-1.0%) and TechnipFMC (-0.8%) are bringing up the rear.

08:34AM ET
[BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +13.00.

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

Just in, Housing starts decreased to a seasonally adjusted annualized rate of 1.236 million units in February (Briefing.com consensus 1.283 million), down from a revised 1.329 million units in January (from 1.326 million). Building permits decreased to a seasonally adjusted 1.298 million in February (Briefing.com consensus 1.330 million) from a revised 1.377 million in January (from 1.396 million).

08:03AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +6.30.

Four times this week the S&P 500 futures have been up in pre-market trading, and four times the S&P 500 has reversed course to end the day in negative territory. The S&P 500 futures are higher once again this morning, up two points (0.1%), but only time will tell if the benchmark index keeps this week's trend alive.

The four consecutive losses have left the S&P 500 down 1.4% week to date. Materials has been the worst-performing sector this week, losing 3.3%, while utilities has been the best, adding 1.6%. In total, nine of eleven S&P sectors hold week-to-date losses.

Investors will receive a big batch of economic data this morning, including February Housing Starts (Briefing.com consensus 1283K) and Building Permits (Briefing.com consensus 1330K) at 8:30 ET, February Industrial Production (Briefing.com consensus +0.3%) and Capacity Utilization (Briefing.com consensus 77.7%) at 9:15 ET, the Job Openings and Labor Turnover Survey for January at 10:00 ET, and the preliminary reading of the University of Michigan Consumer Sentiment Index for March (Briefing.com consensus 99.5) also at 10:00 ET.

In the bond market, U.S. Treasuries are flat this morning, with the benchmark 10-yr yield unchanged at 2.82%.

Overseas, equity indices in the Asia-Pacific region finished Friday broadly lower, with Japan's Nikkei losing 0.6%, while the major European bourses are sporting modest gains; Germany's DAX is the top performer with a gain of 0.6%. The euro is up 0.2% against the U.S. dollar at 1.2330, and the Japanese yen is up 0.7% against the greenback at 105.62.

In U.S. corporate news:

Broadcom (AVGO 265.00, -2.76): -1.0% despite beating Q4 earnings estimates.
Adobe Systems (ADBE 227.10, +8.23): +3.8% after reporting better-than-expected earnings and revenues.
Qualcomm (QCOM 61.50, +1.61): +2.7% following reports that former Chairman Paul Jacobs may head a takeover bid.
Ulta Beauty (ULTA 202.75, -3.39): -1.6% after missing Q4 earnings estimates and lowering its guidance.
Tiffany & Co (TIF 97.75, -4.96): -4.8% despite beating both top and bottom line estimates for Q4.

Reviewing overnight developments:

Asian markets were on the weaker side of things on Friday as Wall Street's wobbly performance on Thursday and trade war concerns seemed to weigh on sentiment. Japan's Nikkei -0.6%, Hong Kong's Hang Seng -0.1%, China's Shanghai Composite -0.7%, India's Sensex -1.5%.
In economic data:
Japan's January Industrial Production revised to -6.8% month-over-month (expected -6.6%) from -6.6%; January Capacity Utilization -7.3% month-over-month (expected -0.1%; last 2.8%)
New Zealand's February Business NZ PMI 53.4 (last 55.6)
In news:
Japan's parliament approved Governor Kuroda for a second 5-year term. Also, the political scandal continued to swirl in Japan as press reports noted Prime Minister Abe knew about altered documents in a private property transaction six days before the public was informed.
The US Chamber of Commerce, meanwhile, warned President Trump against imposing big tariffs on China, saying they are a damaging tax on U.S. consumers.

European bourses are moving northward ahead of Wall Street's open, doing what they can to avoid the noise of trade war concerns that were amplified by reports the EU is preparing member countries for a trade war with the U.S. with respect to steel and aluminum tariffs. UK's FTSE +0.2%, Germany's DAX +0.6%, France's CAC +0.2%.
In economic data:
Eurozone's February Final CPI +1.1% year-over-year (expected 1.2%; last 1.2%); +0.2% month-over-month (expected 0.2%; last 0.2%). February Final Core CPI +1.0% year-over-year (expected 1.0%; last 1.0%)
Eurozone's Q4 wages +1.7% year-over-year (expected 1.8%; last 1.6%); Q4 Labor Cost Index +1.5% (last 1.6%)
Germany's February WPI +1.2% year-over-year (expected 1.5%; last 2.0%); -0.3% month-over-month (expected 0.2%; last 0.9%)
Italy's February Final CPI +0.5% year-over-year (expected 0.6%; last 0.5%); 0.0% month-over-month (expected 0.1%; last 0.1%)
In news:
The eurozone's final February CPI reading contained a downward revision to 1.1% year-over-year from 1.2% in the preliminary reading, which is not the direction the ECB is aiming for.
The ECB's Praet said in a speech that the ECB needs to proceed at a gradual pace.

06:59AM ET
[BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +14.50.

06:59AM ET
[BRIEFING.COM] Nikkei...21676.51...-127.40...-0.60%. Hang Seng...31502...-39.10...-0.10%.

06:59AM ET
[BRIEFING.COM] FTSE...7155.57...+15.80...+0.20%. DAX...12411.83...+66.30...+0.50%.

04:30PM ET

[BRIEFING.COM] Stocks initially tried to move higher on Thursday, then lower, but the S&P 500 ultimately ended the session little changed, losing 0.1%. The Nasdaq Composite and the Russell 2000 also finished lower, losing 0.2% and 0.5%, respectively, while the Dow Jones Industrial Average outperformed, advancing 0.5%.

The S&P 500 was slightly higher through the first hour of trading, sitting just above its 50-day simple moving average, but jumped to new highs following a CNBC interview with Peter Navarro, Director of the White House National Trade Council. Mr. Navarro tried to ease fears that the recently imposed tariffs, and future ones, could lead to a trade war, saying that the U.S. can implement them "in a way that is peaceful and will improve and strengthen the trading system." The upbeat sentiment didn't last long though, as the S&P 500 quickly returned to its previous levels.

From there, the equity market trended sideways into the afternoon and then dropped to new lows following the release of a New York Times report that Special Counsel Robert Mueller subpoenaed the Trump Organization for documents, some of which relate to Russia. Buyers didn't let the S&P 500 drop too far below its 50-day simple moving average though, keeping technical damage to a minimum.

The S&P 500 was down 0.3% at its worst mark of the day and was up 0.5% at its best. The 11 S&P sectors finished mostly lower, with three advancing and eight declining. The industrial sector (+0.3%) was the top performer, while materials (-1.3%), consumer staples (-0.6%), and energy (-0.4%) finished at the bottom of the sector standings.

Monsanto (MON 117.20, -5.95) weighed on the materials space, losing 4.8%, after reports that its pending merger with Bayer will face additional hurdles from antitrust officials. Meanwhile, in the consumer staples group, Walmart (WMT 87.51, -0.16) dropped sharply following reports that a former executive filed a lawsuit against the company, alleging that it issued misleading e-commerce results, but shares were able to bounce back to finish lower by just 0.2%.

News that the Federal Energy Regulatory Commission has revised its policies so that master limited partnerships (MLPs) will no longer be able to recover an income tax allowance for the cost of service weighed on the energy space, with Williams Companies (WMB 26.69, -1.45) losing 5.2%.

In earnings news, Dollar General (DG 93.44, +4.24) rallied 4.8% after reporting an increase of 3.3% in same store sales for the fourth quarter and issuing better-than-expected earnings and revenue guidance for fiscal year 2019.

The Treasury market walked a fairly quiet line on Thursday, with the exception of the 2-yr note, which saw sellers making some noise that drove its yield up three basis points to 2.28%. The benchmark 10-yr yield finished unchanged at 2.82%, leaving the 10-2 spread at 54 basis points, which is its lowest level since late January.

Investors received a large batch of economic data on Thursday that included export and import prices for February, the weekly Initial Claims report, the Empire State Manufacturing Survey for March, the Philadelphia Fed Index for March, and the NAHB Housing Market Index for March:

Import prices excluding oil rose 0.5% in February after increasing a revised 0.5% in January (from 0.4%). Export prices excluding agriculture increased 0.2% in February after rising a revised 0.8% in January (from 0.9%).
The price index for fuel imports was down 0.6% in February, so the key takeaway from the report is that the import price increase was driven by nonfuel prices, which is to be expected somewhat given the weakness in the dollar.
The latest weekly initial jobless claims count totaled 226,000, as expected. Today's tally was below the revised prior week count of 230,000 (from 231,000). As for continuing claims, they rose to 1.879 million from a revised count of 1.875 million (from 1.870 million).
The key takeaway from the report is that the initial claims level will continue to drive expectations for another solid gain in nonfarm payrolls in March.
The Empire Manufacturing Survey for March rose to 22.5 (Briefing.com consensus 15.0) from the prior month's unrevised reading of 13.1.
The Philadelphia Fed Survey for March decreased to 22.3 (Briefing.com consensus 23.7) from an unrevised 25.8 in February.
The key takeaway from the report is that 64% of firms reported labor shortages while 70% of firms highlighted skills mismatches between requirements and available labor. These responses could be a potential harbinger of wage inflation.
The NAHB Housing Market Index for March decreased to 70 (Briefing.com consensus 72) from a revised reading of 71 in February (from 72).

On Friday, investors will get another heavy dose of data, including February Housing Starts (Briefing.com consensus 1283K) and Building Permits (Briefing.com consensus 1330K), February Industrial Production (Briefing.com consensus +0.3%) and Capacity Utilization (Briefing.com consensus 77.7%), the Job Openings and Labor Turnover Survey for January, and the preliminary reading of the University of Michigan Consumer Sentiment Index for March (Briefing.com consensus 99.5).

Nasdaq Composite: +8.4% YTD
S&P 500: +2.8% YTD
Dow Jones Industrial Average: +0.6% YTD
Russell 2000: +2.7% YTD

Dow: +115.54… | Nasdaq: -15.07… | S&P: -2.15…
NASDAQ Adv/Dec 1263/1657. …NYSE Adv/Dec 1086/1814.

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

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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)
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