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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 21st Weds Price Action Trade Result Profit $12375.00
PostPosted: Wed Mar 21, 2018 9:02 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Price Action Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm & http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Users Reviews, Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Review of TheStrategyLab: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167 & http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
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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 @ $12,375.00 dollars or +247.50 points, Light Crude Oil CL ($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 @ $12,375.00 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=2780

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: -44.96… | Nasdaq: -19.02… | S&P: -5.01…
NASDAQ Vol: 1.97 bln… Adv: 1729… Dec: 1161…
NYSE Vol: 795.2 mln… Adv: 1694… Dec: 1234…

Moving the Market

Fed hikes rates by 25 basis points, as expected; still projects a total of three rate hikes for 2018, unchanged from December

General Mills (GIS) leads consumer staples sector lower after issuing disappointing profit guidance for fiscal year 2018

Energy shares rally as WTI crude futures hit a six-week high

Sector Watch
Strong: Energy, Materials, Industrials
Weak: Consumer Staples, Technology, Telecom Services, Real Estate
04:30PM ET

[BRIEFING.COM] Stocks swung sharply on Wednesday afternoon following the release of the Fed's latest policy directive, which increased the fed funds target range by 25 basis points to 1.50%-1.75%. The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average eventually settled with modest losses between 0.2% and 0.3%, but the small-cap Russell 2000 outperformed, finishing with a gain of 0.6%.

The rate hike wasn't a surprise as investors had long expected that the Fed would increase rates at its March meeting. What investors weren't sure of, however, was whether the Fed would stick to its forecast of three rate hikes for 2018, thinking it might bump up that number to four. To the market's relief, the former proved to be true -- the Fed is calling for just two additional rate hikes this year (three in total) -- but officials did raise their rate-hike projections for 2019; they're now calling for three hikes next year, up from two in December.

Equities were volatile following the decision, with the S&P 500 jumping to a new session high (+0.8%) and then to a new session low (-0.3%) within a span of 45 minutes. Similarly, the Treasury market seesawed a bit, eventually finishing the session on a mixed note; the yield on the benchmark 10-yr note finished three basis points above its Tuesday close at 2.91%, while the Fed-sensitive 2-yr yield dropped three basis points to 2.31%.

Only three of eleven S&P sectors finished Wednesday in positive territory -- industrials (+0.1%), materials (+1.1%), and energy (+2.6%). The energy group was strong throughout the session, benefiting from a rise in the price of crude oil; West Texas Intermediate crude futures jumped 3.0% to $65.45 per barrel, their best level in nearly seven weeks, after the Department of Energy reported that U.S. crude inventories declined by 2.6 million barrels last week.

On the flip side, the consumer staples sector finished at the bottom of the sector standings with a loss of 1.3%. General Mills (GIS 45.51, -4.42) led the group lower, dropping 8.9%, after lowering its profit guidance for fiscal year 2018. The top-weighted technology sector (-0.6%) also underperformed, but Facebook (FB 169.39, +1.24) managed to advance 0.7% following heavy losses on Monday and Tuesday, which were due to the Cambridge Analytica scandal.

Wednesday's economic data included Existing Home Sales for February, the Current Account Balance for the fourth quarter, and the weekly MBA Mortgage Applications Index:

Existing home sales increased 3.0% in February to an annualized rate of 5.54 million units (Briefing.com consensus 5.42 million). The January reading was left unrevised at 5.38 million.
The key takeaway from the report remains the same: notable supply constraints continue to act as a drag on overall sales. The limited inventory -- and the high prices on available inventory -- is crimping affordability, particularly for first-time buyers; moreover, all prospective buyers are going to feel added affordability pressures from rising mortgage rates.
The current account deficit for the fourth quarter totaled $128.2 billion (Briefing.com consensus -$125.0 billion). The third quarter deficit was revised to $101.5 billion from $100.6 billion.
The weekly MBA Mortgage Applications Index decreased 1.1% to follow last week's uptick of 0.9%.

On Thursday, investors will receive the weekly Initial Jobless Claims Report (Briefing.com consensus 225K) at 8:30 AM ET, the FHFA Housing Price Index for January (Briefing.com consensus +0.4%) at 9:00 AM ET, and The Conference Board's Leading Economic Index for February (Briefing.com consensus +0.5%) at 10:00 AM ET.

Nasdaq Composite: +6.4% YTD
S&P 500: +1.4% YTD
Dow Jones Industrial Average: -0.2% YTD
Russell 2000: +2.9% YTD

Dow: -44.96… | Nasdaq: -19.02… | S&P: -5.01…
NASDAQ Adv/Dec 1729/1161. …NYSE Adv/Dec 1694/1234.

03:45PM ET
[BRIEFING.COM]

Commodities ending the day higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are +0.8% at 87.4100
The dollar index is -0.8% at 89.26
Energy:
Mar WTI crude oil futures settled +$1.60 (+2.50%) at $65.16/barrel on the day
In other energy, Mar natural gas settled -$0.03 at $2.64/MMBtu
Metals:
Apr gold settled +$9.90 at $1321.60/oz, while Mar silver settled +$0.02 to $16.42/oz
Mar copper settled +$0.02 at $3.06/lb

Dow: +67.32… | Nasdaq: +4.18… | S&P: +5.28…
NASDAQ Adv/Dec 1873/1040. …NYSE Adv/Dec 1814/1101.

02:55PM ET

[BRIEFING.COM] Equities have been dropping over the last 45 minutes, with the S&P 500 giving back all of its 0.8% gain and more; the benchmark index is currently down 0.2%.

Seven S&P 500 sectors are trading in the red--consumer discretionary (-0.1%), technology (-0.6%), health care (-0.3%), consumer staples (-1.4%), utilities (-0.6%), telecom services (-0.7%), and real estate (-1.2%)--while four are trading in the green--financials (+0.6%), industrials (+0.3%), energy (+2.4%), and materials (+1.1%).

In the bond market, U.S. Treasuries are mostly lower, but the Fed-sensitive 2-yr note is showing relative strength, pushing its yield one basis point lower to 2.33%. The yield on the benchmark 10-yr note is up three basis points at 2.91%.
Dow: -6.32… | Nasdaq: -26.89… | S&P: -3.62…
NASDAQ Adv/Dec 1242/1035. …NYSE Adv/Dec 1593/1298.

02:25PM ET

[BRIEFING.COM] Stocks whipsawed immediately following the release of the Fed's latest policy directive, moving sharply higher, then sharply lower. The S&P 500 is currently up 0.5% after holding a gain of around 0.3% ahead of the release, with eight of its eleven sectors trading in positive territory.

The Fed decided to raise the federal funds target range by 25 basis points to 1.50%-1.75%, as expected, and left its 2018 rate-hike forecast unchanged; the Fed is still anticipating a total of three rate hikes this year. However, officials did raise their rate-hike projections for 2019 from two to three.

Fed Chairman Jerome Powell will begin his post-decision press conference at 2:30 PM ET.
Dow: +194.86… | Nasdaq: +29.14… | S&P: +15.09…
NASDAQ Adv/Dec 1659/800. …NYSE Adv/Dec 1933/954.

02:00PM ET

[BRIEFING.COM] As expected, the FOMC voted to raise the federal funds target range by 25 basis points to 1.50%-1.75%.

Equities have ticked up following the release, with the S&P 500 extending its gain to 0.7% from 0.4%.

Meanwhile, the 2-yr yield has remained at 2.30%, the 10-yr yield has slipped to 2.87% from 2.89%, and the U.S. Dollar Index (89.57) has extended its loss to 0.4% from 0.3%.
Dow: +150.67… | Nasdaq: +27.95… | S&P: +13.74…
NASDAQ Adv/Dec 1674/902. …NYSE Adv/Dec 1905/962.

01:30PM ET

[BRIEFING.COM] The major U.S. indices are holding firm in positive territory as investors brace for the Fed's latest policy directive, due out at the top of the hour.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 117.36, +2.86), DowDuPont (DWDP 67, +1.16), & Exxon Mobil (XOM 75.08, +1.09) are outperforming. Chevron & Exxon are among the Dow's top gainers as the energy sector puts in today's best performance amid a 2.5% rally in WTI crude oil futures.

Conversely, Procter & Gamble (PG 77.49, -0.82) is the worst-performing Dow component as consumer staples pullback following cautious FY18 projections from General Mills (GIS 45.09, -4.84).

As markets pause ahead of the Fed's rate decision, the DJIA is currently down 0.45%.
Dow: +95.41… | Nasdaq: +15.97… | S&P: +8.24…
NASDAQ Adv/Dec 1661/989. …NYSE Adv/Dec 1755/1106.

12:55PM ET

[BRIEFING.COM] Stocks have been trimming their weekly losses today as investors await the Fed's latest policy directive, which will be released at 2:00 PM ET. The S&P 500 is up 0.5%, hovering at its session high, while the Nasdaq and the Dow sport gains of 0.4% and 0.6%, respectively. The Russell 2000 is outperforming with a gain of 0.7%.

The market is all but certain that the Fed will raise the target range for the Fed funds rate by 25 basis points to 1.50%-1.75%, so the focus of today's policy release will be more on the central bank's projections for economic growth and interest rates, which will be revealed via the so-called "dot plot"; more specifically, the market wants to see if the Fed sticks with its projection of three rate hikes in 2018 or bumps it up to four. In addition, Jerome Powell will conduct his first press conference as Fed Chairman, which will start 30 minutes after the policy release.

Eight of eleven S&P sectors are higher this afternoon, but none more so than energy, which has rallied 2.7% amid a sizable increase in the price of crude oil; West Texas Intermediate crude futures are up 2.6% at $65.18 per barrel -- their best level in nearly seven weeks -- after the Department of Energy reported that U.S. crude inventories declined for the first time since late February last week, dropping by 2.6 million barrels. The materials (+1.6%) and industrials (+0.9%) groups are also outperforming, but no other sector is up more than 0.5%.

The consumer staples sector is at the opposite end of the sector standings, down 1.0%. Within the space, General Mills (GIS 45.15, -4.79) has tumbled 9.6% after lowering its profit guidance for fiscal year 2018. Telecom services (-0.3%) and real estate (-0.3%) are the only other declining sectors.

Elsewhere, U.S. Treasuries are mostly lower ahead of the Fed decision, but the 2-yr note is showing relative strength, pushing its yield down one basis point to 2.33%. The yield on the benchmark 10-yr note, meanwhile, is up two basis points at 2.90%; yields move inversely to Treasury prices. The U.S. Dollar Index is down 0.3% at 89.78, with the greenback dropping 0.2% against the euro (1.2266), 0.2% against the Japanese yen (106.31), and 0.5% against the British pound (1.4066).

Today's economic data was limited to the Current Account Balance for the fourth quarter and Existing Home Sales for February:

The current account deficit for the fourth quarter totaled 128.2 billion (Briefing.com consensus -$125.0 billion). The third quarter deficit was revised to $101.5 billion from $100.6 billion.
Existing home sales increased 3.0% in February to an annualized rate of 5.54 million units (Briefing.com consensus 5.42 million). The January reading was left unrevised at 5.38 million.
The key takeaway from the report remains the same: notable supply constraints continue to act as a drag on overall sales. The limited inventory -- and the high prices on available inventory -- is crimping affordability, particularly for first-time buyers; moreover, all prospective buyers are going to feel added affordability pressures from rising mortgage rates.

Dow: +133.77… | Nasdaq: +29.59… | S&P: +12.80…
NASDAQ Adv/Dec 1664/997. …NYSE Adv/Dec 1817/1040.

12:25PM ET

[BRIEFING.COM] The major averages continue drifting at session highs, sporting gains between 0.3% and 0.6%.

In Europe, the major bourses are mixed, with Germany's DAX up 0.1% while France's CAC and the UK's FTSE show losses of 0.2% apiece. The euro is up 0.2% against the U.S. dollar at 1.2266, while the British pound has jumped 0.5% against the greenback to 1.4068.

The Euro Stoxx 50 is down 1.2% for the week, which is slightly worse than the S&P 500's weekly decline of 0.8%.
Dow: +136.30… | Nasdaq: +25.06… | S&P: +12.11…
NASDAQ Adv/Dec 1739/918. …NYSE Adv/Dec 1838/993.

11:55AM ET

[BRIEFING.COM] Equities have ticked up to new session highs, extending the S&P 500's gain to 0.4%.

The lightly-weighted materials sector is having a solid day, jumping 1.6% to return to its flat line for the week. Dow component DowDuPont (DWDP 67.76, +1.37) is up 2.0%, while LyondellBasell (LYB 112.01, +4.54) is up 4.2% after receiving U.S. antitrust clearance for its acquisition of A. Schulman (SHLM 43.70, +0.15) this morning. A jump in metal prices has also helped underpin the sector; gold is up 1.1% at $1325.90/oz, silver is up 1.9% at $16.49/oz, and copper is up 0.9% at $3.06/lb.

In Washington, reports indicate that Congress is nearing a final spending deal that would extend government funding until October. The current spending bill expires at midnight on Friday.
Dow: +121.32… | Nasdaq: +27.38… | S&P: +11.05…
NASDAQ Adv/Dec 1806/885. …NYSE Adv/Dec 1842/973.

11:25AM ET

[BRIEFING.COM] Stocks are still roughly flat this morning, with the S&P 500 sporting a slim gain of 0.1%.

Airlines have struggled today, evidenced by the 1.9% decrease in the US Global Jets ETF (JETS 32.90, -0.64). Southwest Air (LUV 57.35, -3.33) is leading the airline retreat with a loss of 5.5% after lowering its first quarter guidance for revenue per available seat mile.

Still, the industrial sector has done relatively well overall, climbing 0.3%. FedEx (FDX 257.06) is showing particular strength, up 2.0%, after beating earnings and revenue estimates for its fiscal third quarter and issuing upbeat profit guidance.
Dow: -12.13… | Nasdaq: +11.13… | S&P: +2.70…
NASDAQ Adv/Dec 1678/1046. …NYSE Adv/Dec 1729/1059.

10:55AM ET

[BRIEFING.COM] The S&P 500 and the Nasdaq are a tick higher this morning, up around 0.1% apiece, while the Dow is a tick lower, down 0.1%. Movement has been modest since the opening bell as investors await the Fed's latest policy directive, which will be released at 2:00 PM ET.

Five S&P sectors are trading in the green, including consumer discretionary (+0.2%), industrials (+0.2%), energy (+2.2%), materials (+1.1%), and utilities (unch), while six groups are trading in the red, including financials (-0.1%), technology (unch), health care (unch), consumer staples (-1.1%), telecom services (-0.4%), and real estate (-0.5%).

The energy sector has been underpinned by a jump in the price of crude oil; West Texas Intermediate crude futures are up 1.9% at $64.74 per barrel, which marks their highest level in nearly seven weeks, after the Department of Energy reported that U.S. crude inventories declined by 2.6 million barrels last week.
Dow: -10.82… | Nasdaq: +9.12… | S&P: +1.94…
NASDAQ Adv/Dec 1738/966. …NYSE Adv/Dec 1737/1022.

10:35AM ET
[BRIEFING.COM]

Commodities are beginning the day higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently +0.6% at 87.2584
Dollar index is currently -0.4% at 89.68
Looking at energy...
Mar WTI crude oil futures are now +$1.18 at $64.72/barrel
In other energy, Mar natural gas is unch at $2.68/MMBtu
Moving on to metals...
Apr gold is currently +$8.30 at $1320.20/oz, while Mar silver is +$0.22 at $16.40/oz
Mar copper is now unch at $3.04/lb

Dow: -43.78… | Nasdaq: +1.54… | S&P: -1.68…
NASDAQ Adv/Dec 1561/1083. …NYSE Adv/Dec 1569/1165.

10:05AM ET

[BRIEFING.COM] Equity indices are still trading near their unchanged marks.

Just in, existing home sales increased 3.0% in February to an annualized rate of 5.54 million units (Briefing.com consensus 5.42 million). The January reading was left unrevised at 5.38 million.
Dow: -34.97… | Nasdaq: +2.03… | S&P: -2.02…
NASDAQ Adv/Dec 1537/1152. …NYSE Adv/Dec 1480/1165.

09:40AM ET

[BRIEFING.COM] The major averages are relatively flat in the opening minutes of today's session.

Most S&P sectors are hovering within 0.4% of their unchanged marks this morning, but energy (+0.8%) exhibits relative strength and consumer staples (-0.6%) exhibits relative weakness. General Mills (GIS 46.00, -3.93) is leading the consumer staples sector lower after issuing disappointing profit guidance, while energy shares are rallying amid an increase in the price of crude oil; WTI crude futures are up 1.3% at $64.35 per barrel.

As a reminder, Existing Home Sales for February (Briefing.com consensus 5.42 million) will be released at 10:00 AM ET.
Dow: +8.31… | Nasdaq: -15.86… | S&P: -1.62…
NASDAQ Adv/Dec 1288/1336. …NYSE Adv/Dec 1350/1220.

09:15AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: -21.00.

Stocks are poised for a flat open, as the S&P 500 futures are trading just two points below fair value.

The Fed will release its latest policy directive at 2:00 PM ET. The market is all but certain that the U.S. central bank will raise the Fed funds target range by 25 basis points to 1.50%-1.75%, so the focus of today's policy release will be more on the Fed's projections for economic growth and interest rates, which will be revealed via the so-called "dot plot"; namely, the market wants to know if the Fed thinks it'll hike rates three or four times this year. In addition, Fed Chairman Powell will speak with the media 30 minutes after the policy release.

U.S. Treasuries have extended yesterday's losses this morning, pushing yields higher across the curve; the benchmark 10-yr yield is up two basis points at 2.90%, while the Fed-sensitive 2-yr yield is up two basis points at 2.36%, which marks a nine-year high. Meanwhile, the U.S. Dollar Index is down 0.3% at 89.73.

In corporate news, General Mills (GIS 45.35, -4.58) is down 9.2% in pre-market trading after issuing below-consensus profit guidance for fiscal year 2018. Salesforce (CRM 121.20, -3.92) is also down, losing 3.1%, after acquiring MuleSoft (MULE 44.30, +2.30) for $44.90 per share in cash and stock, which is a 36% premium over yesterday's close.

The current account deficit for the fourth quarter totaled 128.2 billion (Briefing.com consensus -$125.0 billion), while the third quarter deficit was revised to $101.5 billion from $100.6 billion. Today's last economic report, Existing Home Sales for February (Briefing.com consensus 5.42 million), will be released at 10:00 AM ET.

WTI crude futures are up 1.0% at $64.15 per barrel, hovering at a six-week high, after the API reported on Tuesday evening a draw of 2.7 million barrels for the week ended March 16. The official government figures, which often deviate sharply from the API numbers, will be released at 10:30 AM ET.

08:51AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -13.80.

The S&P 500 futures trade one point above fair value.

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note while Japan's Nikkei was closed for Vernal Equinox. The overall sentiment was subdued as capital markets awaited today's FOMC rate decision and Fed Chairman Jay Powell's first post-meeting press conference. South Korea's parliament approved a second term for Bank of Korea Governor Lee Ju-yeol. The BoK Governor said low inflationary pressure from the demand side calls for keeping the policy interest rate at an accommodative level. In Japan, LDP policy chief Fumio Kishida said that a strategy for reversing easy monetary policy is needed, but was quick to note that ultra-accommodative policy remains appropriate for now.

In economic data:
Australia's MI Leading Index +0.3% month-over-month (last -0.3%)
New Zealand's February Permanent/Long-Term Migration 4,970 (last 6,270). February External Migration & Visitors 11.4% (last -0.5%). Credit Card Spending +7.0% year-over-year (last 4.6%)

---Equity Markets---

Japan's Nikkei was closed.
Hong Kong's Hang Seng lost 0.4%. Geely Automobile fell 6.2% in response to mixed results while Apple supplier AAC Technologies lost 3.5%. Financials like Ping An Insurance, China Life Insurance, AIA Group, and Citic Pacific dropped between 0.5% and 2.7%.
China's Shanghai Composite slipped 0.3%. Joincare Pharmaceutical Group, Zhejiang Medicine, Shenghe Resources Holdings, Anhui Leimingkehua, and Shanghai Baosight Software posted losses between 4.0% and 6.4%.
India's Sensex added 0.4%. Bharti Airtel, NTPC, Larsen & Toubro, and Maruti Suzuki gained between 0.9% and 4.4%. Financials like HDFC Bank, Kotak Mahindra Bank, IndusInd Bank, and AXIS Bank gained between 0.9% and 1.0%.

Major European indices trade in the red with the UK's FTSE (-0.6%) showing relative weakness as the British pound climbs 0.3% against the dollar to 1.4045. The pound has received a boost from upbeat employment data while the euro has edged up 0.3% versus the greenback to 1.2271. Germany's Leading Economic Institutes raised Germany's 2018 GDP growth forecast to 2.3% from 2.2%.

In economic data:
UK's January Average Earnings Index + Bonus +2.8% year-over-year (expected 2.6%; last 2.7%), February Claimant Count Change 9,200 (expected -3,100; last -1,600), March CBI Industrial Trends Orders 4 (expected 9; last 10), and January Unemployment Rate 4.3% (expected 4.4%; last 4.4%)
Spain's January trade deficit EUR3.94 billion (last deficit of EUR2.05 billion)

---Equity Markets---

Germany's DAX is down 0.3%. Bayer is flat after its purchase of Monsanto was approved by regulators. Automakers are mixed with BMW rising 0.7%, Volkswagen shedding 0.7%, and Daimler dipping 0.2%. Deutsche Bank is the weakest performer, falling 3.4%.
France's CAC is lower by 0.4%. Financials like Societe Generale, AXA, and Credit Agricole are down between 0.7% and 1.1% while BNP Paribas has shed 0.5%. Kering outperforms, rising 0.8%.
UK's FTSE trades down 0.6%. Kingfisher has tumbled 8.1% in response to a cautious outlook while other consumer names like Dixons Carphone, TUI, Next, British American Tobacco, Taylor Wimpey, and Imperial Brands show losses between 0.8% and 2.5%.

08:30AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -11.50.

The S&P 500 futures trade one point above fair value.

Just in, the current account deficit for the fourth quarter totaled 128.2 billion (Briefing.com consensus -$125.0 billion). The third quarter deficit was revised to $101.5 billion from $100.6 billion.

07:55AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -16.50.

Equity futures are flat this morning as investors await the Fed's latest policy directive, which will be released at 2:00 PM ET.

The market is all but certain that the U.S. central bank will raise the Fed funds target range by 25 basis points to 1.50%-1.75%, so the focus of today's policy release will be more on the Fed's projections for economic growth and interest rates, which will be revealed in the so-called "dot plot"; namely, the market wants to know if the Fed thinks it'll hike rates three or four times this year. In addition, Fed Chairman Jerome Powell will conduct his first post-decision press conference as head of the Fed, starting around 30 minutes after the policy release.

The S&P 500 futures are currently trading one point above fair value following a big sell off on Monday and a modest advance on Tuesday. The Nasdaq 100 futures, meanwhile, are down 0.2% as Facebook (FB) continues to slide in after-hours trading in reaction to the Cambridge Analytica scandal, which was revealed over the weekend. Dow futures are flat.

Overseas, Asian indices finished Wednesday mixed, but volume was lighter than usual as Japan's Nikkei was closed for Vernal Equinox. The major bourses are relatively flat in Europe, with the UK's FTSE (-0.4%) showing relative weakness amid a strengthening pound, which is up 0.5% against the U.S. dollar at 1.4064.

U.S. Treasuries have extended Tuesday's sell off this morning, pushing yields higher across the curve; the yield on the benchmark 10-yr note is up two basis points at 2.90%, while the more Fed-sensitive 2-yr yield is up one basis point at 2.35%, hovering at a nine-year high. Meanwhile, the U.S. Dollar Index is down 0.2% at 89.79 ahead of the Fed decision, and WTI crude futures are up 1.0% at $64.18/bbl after the API reported a draw of 2.7 million barrels for the week ended March 16. The EIA will release the official government figures at 10:30 AM ET.

On the data front, investors will receive the Current Account Balance for the fourth quarter (Briefing.com consensus -$125.0 billion) at 8:30 AM ET and Existing Home Sales for February (Briefing.com consensus 5.42 million) at 10:00 AM ET. The weekly MBA Mortgage Applications Index was released earlier this morning, showing a decrease of 1.1%.

In U.S. corporate news:

FedEx (FDX 251.71, -0.28): -0.1% despite reporting better-than-expected quarterly earnings and issuing upbeat profit guidance for FY18.
Salesforce (CRM 121.75, -3.37): -2.7% after acquiring MuleSoft (MULE 44.35, +2.35) for $44.90 per share in cash and stock--a 36% premium over yesterday's close.
General Mills (GIS 47.00, -2.93): -5.9% after lowering its profit guidance for FY18.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note while Japan's Nikkei was closed for Vernal Equinox. Hong Kong's Hang Seng -0.4%, China's Shanghai Composite -0.3%, India's Sensex +0.4%.
In economic data:
Australia's MI Leading Index +0.3% month-over-month (last -0.3%)
New Zealand's February Permanent/Long-Term Migration 4,970 (last 6,270). February External Migration & Visitors 11.4% (last -0.5%). Credit Card Spending +7.0% year-over-year (last 4.6%)
In news:
The overall sentiment was subdued as capital markets awaited today's FOMC rate decision and Fed Chair Jay Powell's first post-meeting press conference.
South Korea's parliament approved a second term for Bank of Korea Governor Lee Ju-yeol. The BoK Governor said low inflationary pressure from the demand side calls for keeping the policy interest rate at an accommodative level.
In Japan, LDP policy chief Fumio Kishida said that a strategy for reversing easy monetary policy is needed, but was quick to note that ultra-accommodative policy remains appropriate for now.

Major European indices trade near their flat lines with the UK's FTSE (-0.4%) showing relative weakness as the British pound climbs 0.5% against the dollar to 1.4060. Germany's DAX +0.1%, France's CAC unch.
In economic data:
UK's January Average Earnings Index + Bonus +2.8% year-over-year (expected 2.6%; last 2.7%), February Claimant Count Change 9,200 (expected -3,100; last -1,600), March CBI Industrial Trends Orders 4 (expected 9; last 10), and January Unemployment Rate 4.3% (expected 4.4%; last 4.4%)
Spain's January trade deficit EUR3.94 billion (last deficit of EUR2.05 billion)
In news:
The pound has received a boost from upbeat employment data while the euro has edged up 0.3% versus the greenback to 1.2283.
Germany's Leading Economic Institutes raised Germany's 2018 GDP growth forecast to 2.3% from 2.2%.

07:31AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: -9.50.

06:54AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: -7.00.

06:54AM ET
[BRIEFING.COM] Nikkei...Holiday......... Hang Seng...31414.5...-135.40...-0.40%.

06:54AM ET
[BRIEFING.COM] FTSE...7031.01...-30.30...-0.40%. DAX...12328.17...+20.50...+0.20%.

04:30PM ET

[BRIEFING.COM] Stocks reclaimed a small portion of Monday's decline in choppy trade on Tuesday as investors began gearing up for the Fed's latest policy directive, which will cross the wires on Wednesday afternoon. The S&P 500 advanced 0.2%, trimming its weekly loss to 1.3%, while the Nasdaq climbed 0.3%, and the Dow jumped 0.5%.

The technology sector remained a focal point on Tuesday after leading Monday's sell off, and, for the most part, sentiment within the sector shifted; around three quarters of S&P 500 tech names finished in the green. However, Facebook (FB 168.15, -4.41) was a notable laggard for the second straight session, losing 2.6%, following reports that the Federal Trade Commission (FTC) is investigating whether the company violated a 2011 settlement regarding data privacy when research firm Cambridge Analytica obtained the personal data of 50 million users without their consent.

The Cambridge Analytica incident, which was first reported over the weekend, has been met with cries for greater government regulation, and has prompted lawmakers on Capitol Hill to ask for hearings with CEOs from social media companies, including Twitter (TWTR 31.35, -3.63), which dropped 10.4% on Tuesday. Twitter was also dealing with reports that Israel is considering sanctions against the company for allegedly ignoring requests to remove content that supports terrorism.

Oracle (ORCL 47.05, -4.90) also weighed on the tech group, losing 9.4%, after its better-than-expected quarterly earnings were overshadowed by a disappointing pace of growth in its cloud computing business and the realization that a lower tax rate helped drive the positive earnings surprise.

In the end, the technology sector finished Tuesday flat, closing near the middle of the sector standings. In general, cyclical sectors outperformed their countercyclical peers. The top-performing sectors were consumer discretionary (+0.6%) and energy (+0.9%), while consumer staples (-0.3%), utilities (-0.5%), and telecom services (-1.0%) were the worst-performing groups.

The energy sector benefited from an increase in the price of crude oil; West Texas Intermediate crude futures climbed 2.2% to $63.42 per barrel, hitting a three-week high. Heightened tensions between Saudi Arabia and Iran helped underpin the commodity, as did projections for a decline in Venezuela production due to the country's ongoing economic crisis.

In the bond market, U.S. Treasuries sold off on Tuesday, pushing yields higher across the curve; the benchmark 10-yr yield climbed four basis points to 2.88%, while the 2-yr yield jumped five basis points to 2.34%, which is its highest level since September 2008.

Investors didn't have any economic data to digest on Tuesday, turning their attention to Wednesday's rate-hike decision instead. The market is all but certain that the Fed will vote to raise the Fed funds target range by 25 basis points on Wednesday, so the Fed's economic and rate-hike projections will be the real main event. The CME FedWatch Tool is currently pointing towards a total of three rate hikes this year--although the chances for a fourth hike are sitting at 39.9%.

Also of note, President Trump is reportedly planning to announce $60 billion worth of annual tariffs on Chinese imports at the end of the week. The tariffs, which were first reported last Wednesday, will target more than 100 products, which the president argues were developed using trade secrets from American companies.

Nasdaq Composite: +6.7% YTD
S&P 500: +1.6% YTD
Dow Jones Industrial Average: unch YTD
Russell 2000: +2.3% YTD

Dow: +116.36… | Nasdaq: +20.06… | S&P: +4.02…
NASDAQ Adv/Dec 1283/1615. …NYSE Adv/Dec 1265/1647.

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

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

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

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

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

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


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