TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
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 Post subject: March 22nd Thursday Price Action Trade Result - No Trades
PostPosted: Fri Mar 23, 2018 9:29 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
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)

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

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

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

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=178&t=2781

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: -724.42… | Nasdaq: -178.61… | S&P: -68.24…
NASDAQ Vol: 2.33 bln… Adv: 584… Dec: 2385…
NYSE Vol: 950.0 mln… Adv: 534… Dec: 2431…

Moving the Market

President Trump officially imposes tariffs of up to $60 billion against Chinese imports

Heavily-weighted financial sector leads retreat as Treasury yields move sharply lower

Investors still chewing on Wednesday's policy directive from the Fed

Eurozone, Japan Manufacturing PMI readings disappoint

Sector Watch
Strong: Consumer Staples, Utilities, Real Estate, Telecom Services
Weak: Financials, Industrials, Materials

04:30PM ET

[BRIEFING.COM] Stocks tumbled on Thursday as a slew of leery headlines left buyers on the sidelines. The S&P 500 lost 2.5%, dropping into negative territory for the year (-1.1%) and extending its week-to-date decline to 3.9%, while the Nasdaq and the Dow tumbled 2.4% and 2.9%, respectively.

There was little doubt as to where the market was headed at Thursday's opening bell, as equity futures were down big in overnight trading. There wasn't a particular catalyst for the negative disposition, but disappointing PMI readings in the eurozone and Japan, an unsatisfying apology from Facebook's (FB 164.89, -4.50) CEO Mark Zuckerberg regarding the Cambridge Analytica data breach, and Wednesday's rate hike from the Fed didn't exactly bode well for investor sentiment.

The biggest headline catalyst, however, was President Trump's decision to impose tariffs of up to $60 billion on Chinese imports; Mr. Trump officially signed a presidential memorandum on Thursday afternoon. However, the decision wasn't a surprise -- Reuters first reported the president's desire to punish China for intellectual property theft via tariffs last week -- and actually had a silver lining considering the tariffs will only be implemented after a consultation period. Still, the duties do give new energy to the trade war debate.

Selling picked up notably in the final hour of the session, with the S&P 500 nearly doubling its earlier loss. The financial sector led the retreat, dropping 3.7%, as Treasury yields tumbled across the curve; the benchmark 10-yr yield declined eight basis points to 2.83%, while the 2-yr yield slid three basis points to 2.28%. The industrial sector (-3.3%) also showed notable weakness, while most of the remaining groups finished with losses of more than 2.0%.

The most influential sector, information technology, declined 2.7% -- a discouraging sign for investors who have looked to the sector for leadership; the tech group led last year's rally and is still the top-performing sector of 2018 despite Thursday's slide, up 4.3% year to date. Accenture (ACN 150.23, -11.80) was the tech sector's worst-performing component on Thursday, tumbling 7.3%, despite beating earnings and revenue estimates for its fiscal second quarter and raising its yearly guidance.

In other corporate news, AbbVie (ABBV 98.10, -14.35) shares dropped 12.8% after the drugmaker provided a disappointing update on its experimental cancer drug Rova-T, saying data from a phase two trial was not strong enough to justify seeking accelerated approval. The health care sector lost 2.9%.

On a positive note, the rate-sensitive utilities sector advanced 0.4%, benefiting from the decline in Treasury yields.

Investors received several pieces of economic data on Thursday morning, including the weekly Initial Jobless Claims Report, the FHFA Housing Price Index for January, and the Conference Board's Leading Economic Index for February:

The latest weekly initial jobless claims count totaled 229,000, while the Briefing.com consensus expected a reading of 225,000. Today's tally was above the unrevised prior week count of 226,000. As for continuing claims, they declined to 1.828 million from a revised count of 1.885 million (from 1.879 million).
The key takeaway from this report is that it covered the period in which the survey for the March employment report was taken, so the low level of initial claims will feed estimates for another strong gain in nonfarm payrolls.
The FHFA Housing Price Index increased 0.8% in January (Briefing.com consensus +0.4%), while the December reading was revised to +0.4% from +0.3%.
The Conference Board's Leading Economic Index increased 0.6% in February (Briefing.com consensus +0.5%). The prior month's reading was revised to +0.8% from +1.0%.
The key takeaway from the report is that the strength among the leading indicators remained widespread, with eight of its ten components making positive contributions.

On Friday, investors will receive just two economic reports -- Durable Goods Orders for February (Briefing.com consensus +1.5%) and New Home Sales for February (Briefing.com consensus 620K) -- which will be released at 8:30 AM ET and 10:00 AM ET, respectively.

Nasdaq Composite: +3.8% YTD
S&P 500: -1.1% YTD
Dow Jones Industrial Average: -3.1% YTD
Russell 2000: +0.6% YTD

Dow: -724.42… | Nasdaq: -178.61… | S&P: -68.24…
NASDAQ Adv/Dec 584/2385. …NYSE Adv/Dec 534/2431.

03:40PM ET
[BRIEFING.COM]

Commodities ending the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are -0.4% at 87.1029
The dollar index is +0.2% at 89.42
Energy:
Mar WTI crude oil futures settled -$0.86 at $64.30/barrel on the day
In other energy, Mar natural gas settled -$0.02 at $2.62/MMBtu
Metals:
Apr gold settled +$6.00 at $1327.60/oz, while Mar silver settled -$0.02 to $16.40/oz
Mar copper settled -$0.04 at $3.02/lb

Dow: -648.78… | Nasdaq: -155.92… | S&P: -60.31…
NASDAQ Adv/Dec 653/2302. …NYSE Adv/Dec 648/2298.

03:00PM ET

[BRIEFING.COM] The major averages enter the final hour with losses between 1.5% and 1.8%, hovering in the lower half of their daily trading ranges.

Eight sectors are trading in the red this afternoon--financials (-2.5%), consumer discretionary (-1.3%), industrials (-1.8%), energy (-1.2%), materials (-1.8%), technology (-1.5%), health care (-1.8%), and telecom services (-0.8%)--while three are trading in the green--consumer staples (unch), utilities (+1.1%), and real estate (+0.7%).

Looking ahead to tonight's earnings, Nike (NKE 65.33, -1.01), Micron (MU 59.53, -1.53), and KB Home (KBH 29.30, -0.43) will release their quarterly results following the closing bell.
Dow: -453.39… | Nasdaq: -110.34… | S&P: -43.89…
NASDAQ Adv/Dec 755/1175. …NYSE Adv/Dec 792/2125.

02:30PM ET

[BRIEFING.COM] Today's action in the U.S. has been decidedly lower owing to continued weakness post FOMC decision, a broader selloff in the tech space, and amped up worries of a trade war stemming from the latest bout of tariffs levied by the Trump Administration, which are against Chinese imports. With that being said, the broader market has recouped a portion of its mid-afternoon losses, sitting comfortably within its daily range.

Moving our eyes across the pond, European bourses finished lower in tow with the domestic weakness. The FTSE, the DAX, and the CAC all closed Thursday with losses worse than 1.0%. The US dollar, then, has seen an interesting few hours against a basket of currencies -- namely the greenback is down against the Japanese yen (+0.4%) to about 105.68, posts gains of 0.2% against the euro to 1.2309, and moves up against the pound (+0.2%) to 1.4113.

The US Dollar Index is only a stone's throw off today's highs, up about 0.2% to 89.88.
Dow: -305.34… | Nasdaq: -105.19… | S&P: -30.50…
NASDAQ Adv/Dec 802/1197. …NYSE Adv/Dec 837/2061.

02:00PM ET

[BRIEFING.COM] Action among the three major averages continues to progress off lows with the benchmark index near -1.0% -- the index turned negative for 2018 earlier today.

As far as sectors go, the heavily-weighted financials (-1.5%) sector marches lower again after succumbing to broader market pressure yesterday related to the FOMC rate hike. A look within the financial sector shows that constituents JPMorgan Chase (JPM 112.52, -2.22), Bank of America (BAC 31.13, -0.73), Wells Fargo (WFC 53.72, -1.07), and Citigroup (C 71.92, -1.40) all sport losses worse than 1.5%.

For its part, the Financial Sector SPDR ETF (XLF 28.23, -0.49) gives up 1.7% today, stretching its nearly two-week string of losses to -4.8% (dating back to March 12).
Dow: -254.30… | Nasdaq: -72.49… | S&P: -24.93…
NASDAQ Adv/Dec 966/1118. …NYSE Adv/Dec 974/1907.

01:35PM ET

[BRIEFING.COM] The major U.S. indices remain under meaningful pressure at this time as investors weigh the impact of President Trump's latest protectionist move, levying $50 bln in tariffs against China.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 150.64, -5.16), Boeing (BA 328.21, -8.89), & 3M (MMM 228.06, -6.08) are underperforming amid concerns about the potential fallout from a trade war between the US & China.

Conversely, Coca-Cola (KO 43.22, +0.22) is the best-performing Dow component as consumer staples display relative strength in today's down session.

At current levels, the DJIA is down 2.06% this week.
Dow: -356.02… | Nasdaq: -97.49… | S&P: -34.76…
NASDAQ Adv/Dec 997/1141. …NYSE Adv/Dec 986/1889.

01:05PM ET

[BRIEFING.COM] Stocks are comfortably above session lows this afternoon, but still hold heavy losses, as investors take in the latest tariff announcement from the White House. The S&P 500 is currently down 1.4% after losing as much as 1.9% earlier, while the Dow and the Nasdaq hold losses of 1.5% apiece.

President Trump just signed a Presidential Memorandum to levy $50 billion in tariffs against Chinese imports. Original reports said that the tariffs could be worth up to $60 billion, but headlines earlier this afternoon revealed that the White House would instead opt for $50 billion worth of duties; that news helped stocks climb from session lows. Still, the tariffs are largely seen as a negative as many fear they could lead to a tit-for-tat trade war between the world's two largest economies. China has already promised to retaliate by imposing tariffs on U.S. agricultural exports.

Today's decline is part of a larger two-week move that's left the S&P 500 about 4.0% below its close on March 9. The benchmark index found some support at its 50-day simple moving average (2745) last week, but hasn't been able to rely on the key technical level since dropping sharply below it on Monday.

Investors have continued chewing on yesterday's policy directive from the Fed, which raised rates by 25 basis points and indicated that the central bank still anticipates hiking rates two more times this year, while also keeping an eye overseas. Disappointing March Manufacturing PMIs in both the Eurozone and Japan have helped influence selling on Wall Street, as has the Bank of England's divided decision to leave its key policy rate unchanged at 0.5% -- the decision wasn't surprising, just the fact that it wasn't unanimous (7-2).

Eight of eleven S&P sectors are lower this afternoon, with financials (-1.8%), industrials (-1.6%), materials (-1.4%), technology (-1.4%), and health care (-1.6%) leading the retreat. The rate-sensitive utilities (+1.5%) and real estate (+0.8%) sectors are the top performers amid a steep drop in Treasury yields; the yield on the benchmark 10-yr Treasury note is down seven basis points at 2.84%, while the 2-yr yield is down one basis point at 2.30%.

Investors received several pieces of economic data this morning, including the weekly Initial Jobless Claims Report, the FHFA Housing Price Index for January, and the Conference Board's Leading Economic Index for February:

The latest weekly initial jobless claims count totaled 229,000, while the Briefing.com consensus expected a reading of 225,000. Today's tally was above the unrevised prior week count of 226,000. As for continuing claims, they declined to 1.828 million from a revised count of 1.885 million (from 1.879 million).
The key takeaway from this report is that it covered the period in which the survey for the March employment report was taken, so the low level of initial claims will feed estimates for another strong gain in nonfarm payrolls.
The FHFA Housing Price Index increased 0.8% in January (Briefing.com consensus +0.4%), while the December reading was revised to +0.4% from +0.3%.
The Conference Board Leading Economic Index increased 0.6% in February (Briefing.com consensus +0.5%). The prior month's reading was revised to +0.8% from +1.0%.
The key takeaway from the report is that the strength among the leading indicators remained widespread, with eight of its ten components making positive contributions.

Dow: -397.49… | Nasdaq: -105.40… | S&P: -38.13…
NASDAQ Adv/Dec 851/1349. …NYSE Adv/Dec 871/2003.

12:30PM ET

[BRIEFING.COM] Stocks have come up from session lows in recent trading following headlines that President Trump will unveil tariffs of $50 billion against China this afternoon, which is less than the $60 billion amount that was reportedly on the table. The S&P 500 has trimmed its loss to 1.3% from 1.9%.

The president will officially announce the tariffs, which are expected to be targeted towards technology goods as punishment for China's alleged intellectual property theft against U.S. tech companies, in just a few minutes (12:30 PM ET). Beijing has threatened to retaliate by slapping tariffs on U.S. agricultural exports.

Today's announcement follows President Trump's decision two weeks ago to implement tariffs on steel and aluminium imports and has reignited fears of a tit-for-tat trade war between the world's two largest economies.
Dow: -383.47… | Nasdaq: -106.05… | S&P: -37.03…
NASDAQ Adv/Dec 842/1443. …NYSE Adv/Dec 877/1968.

11:55AM ET

[BRIEFING.COM] The major U.S. indices continue drifting near their lowest marks of the day, with the S&P 500 down 1.7%.

Across the Atlantic, the major European bourses are also at session lows, showing losses between 1.6% and 2.2%. Earlier this morning, the Bank of England decided to leave its key policy rate unchanged at 0.5% in a 7-2 vote -- which surprised many who expected the decision to be unanimous -- and the Eurozone Manufacturing PMI for March came in below expectations (56.6 actual vs 58.1 expected). The U.S. dollar is currently up 0.3% against the euro at 1.2300 and up 0.4% against the pound at 1.4082.

In politics, the New York Times recently reported that President Trump's lead lawyer in the Mueller probe, John Dowd, has resigned.
Dow: -457.04… | Nasdaq: -137.31… | S&P: -45.99…
NASDAQ Adv/Dec 682/1728. …NYSE Adv/Dec 753/2084.

11:30AM ET

[BRIEFING.COM] The major averages have ticked down to new session lows in recent trading; the S&P 500 is down 1.6%, while the Nasdaq Composite and the Dow Jones Industrial Average are lower by 1.7% apiece. The small-cap Russell 2000 has held up a little better, but is still down 1.0%.

Shares of AbbVie (ABBV 98.57, -13.89) have dropped 12.4% today after the drugmaker provided a disappointing update on its experimental cancer drug Rova-T, saying data from a phase two trial was not strong enough to justify seeking accelerated approval. AbbVie is currently the weakest component in the S&P 500.

Elsewhere, the CBOE Volatility Index has spiked 17.7% to 21.02 today, hitting its highest level in nearly three weeks.
Dow: -429.46… | Nasdaq: -121.13… | S&P: -42.29…
NASDAQ Adv/Dec 695/1767. …NYSE Adv/Dec 719/2086.

11:00AM ET

[BRIEFING.COM] Stocks have slipped to new lows in recent trading, with the S&P 500 extending its loss to 1.4%.

The heavily-weighted financial sector (-2.2%), which comprises around 15% of the broader market, is leading today's retreat as yields move sharply lower across the curve; the benchmark 10-yr yield is down 10 basis points at 2.81%. Within the financial space, Bank of America (BAC 30.86, -1.01) shows particular weakness, down 3.2%, while JPMorgan Chase (JPM 122.23, -2.51), Wells Fargo (WFC 53.52, -1.27), and Citigroup (C 71.68, -1.64) hold losses of around 2.3% apiece.

Meanwhile, the rate-sensitive utilities (+1.1%) and real estate (+0.4%) sectors are trading in the green -- the only groups to do so.
Dow: -377.45… | Nasdaq: -107.04… | S&P: -37.69…
NASDAQ Adv/Dec 749/1806. …NYSE Adv/Dec 775/2009.

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 87.2581
Dollar index is currently +0.1% at 89.38
Looking at energy...
Mar WTI crude oil futures are now -$0.81 at $64.36/barrel
In other energy, Mar natural gas are now unch at $2.65/MMBtu
Moving on to metals...
Apr gold is currently +$9.40 at $1330.90/oz, while Mar silver is +$0.03 at $16.45/oz
Mar copper is now -$0.05 at $3.03/lb

Dow: -270.54… | Nasdaq: -71.14… | S&P: -26.21…
NASDAQ Adv/Dec 874/1752. …NYSE Adv/Dec 926/1790.

10:00AM ET

[BRIEFING.COM] Equity indices are still showing sizable declines, down around 1.0% apiece.

Just in, the Conference Board Leading Economic Index increased 0.6% in February (Briefing.com consensus +0.5%). The prior month's reading was revised to +0.8% from +1.0%.
Dow: -280.84… | Nasdaq: -73.86… | S&P: -28.24…
NASDAQ Adv/Dec 806/1774. …NYSE Adv/Dec 781/1911.

09:40AM ET

[BRIEFING.COM] The major averages are solidly lower, showing losses between 0.8% and 1.0%.

Nearly all S&P 500 sectors are trading in the red, with financials (-1.1%), industrials (-1.1%), technology (-1.1%), and health care (-1.3%) leading the retreat. The lightly-weighted utilities (unch) and real estate (+0.2%) sectors are the top-performing groups, hovering a tick above their flat lines.

As a reminder, the Conference Board's Leading Economic Index for February (Briefing.com consensus +0.5%), will be released at 10:00 AM ET.
Dow: -251.87… | Nasdaq: -71.93… | S&P: -24.08…
NASDAQ Adv/Dec 670/1900. …NYSE Adv/Dec 635/2012.

09:17AM ET
[BRIEFING.COM] S&P futures vs fair value: -30.00. Nasdaq futures vs fair value: -107.00.

The equity market is poised to open sharply lower this morning, as the S&P 500 futures are trading 30 points, or 1.1%, below fair value.

Investors are still chewing on Wednesday's policy directive from the Fed this morning, but have begun shifting their attention towards the White House, where President Trump is expected to announce tariffs on Chinese imports at 12:30 PM ET. The news has reignited fears of a trade war between the world's two largest economies, especially after Beijing promised to retaliate by slapping duties on U.S. agricultural exports.

On the data front, the latest weekly initial jobless claims count totaled 229,000, while the Briefing.com consensus expected a reading of 225,000. Today's tally was above the unrevised prior week count of 226,000. As for continuing claims, they declined to 1.828 million from a revised count of 1.885 million (from 1.879 million).

Market participants also received the FHFA Housing Price Index this morning, which came in higher than expected (+0.8% actual vs +0.4% Briefing.com consensus). Today's last economic report, The Conference Board's Leading Economic Index for February (Briefing.com consensus +0.5%), will be released at 10:00 AM ET.

Overseas, the Bank of England decided to leave its key policy rate unchanged at 0.5%, but the decision was not unanimous (7-2) as many had expected it would be. The Eurozone Manufacturing PMI for March disappointed (56.6 actual vs 58.1 expected), as did Japan's March Manufacturing PMI (53.2 actual vs 54.3 expected), but Japan's Nikkei still managed to add 1.0%. The Euro Stoxx 50 is currently down 1.7% after recently diving to a new session low.

U.S. Treasuries are in demand this morning, pushing yields lower across the curve; the benchmark 10-yr yield is at 2.82% after finishing Wednesday at 2.91%. Meanwhile, the U.S. Dollar Index is up 0.1% at 89.38, and West Texas Intermediate crude futures are down 0.6% at 64.76 per barrel.

The CBOE Volatility Index has spiked 12.7% to 20.16 -- its highest level in three weeks.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: -25.50. Nasdaq futures vs fair value: -89.00.

The S&P 500 futures are trading 26 points, or 0.9%, below fair value.

Equity indices in the Asia-Pacific region ended Thursday on a mixed note. Yesterday's FOMC rate hike was followed by rate increases in China and Hong Kong. The People's Bank of China increased its 7-day repo rate five basis points to 2.55% while Hong Kong Monetary Authority raised its base rate 25 basis points to 2.00%. Both increases were expected by the market. Moody's noted that U.S. tariffs on aluminum and steel imports have had little impact on China, but an expansion of protectionist measures would present greater challenges. The Reserve Bank of New Zealand left its official cash rate at 1.75%, as expected.

In economic data:
Australia's February Employment Change 17,500 (expected 19,800; previous 12,500) and Full Employment Change 64,900 (last -53,200). February Participation Rate 65.7% (expected 65.6%; last 65.6%) and February Unemployment Rate 5.6% (expected 5.5%; last 5.5%)
Japan's March Manufacturing PMI 53.2 (expected 54.3; last 54.1) and All Industries Activity Index -1.8% month-over-month (expected -1.7%; last 0.6%)

---Equity Markets---

Japan's Nikkei gained 1.0%. Chugai Pharmaceutical jumped 4.4% while Komatsu, Fanuc, Hitachi Construction, Canon, Daikin Industries, Sony, and Trend Micro posted gains between 1.8% and 4.2%.
Hong Kong's Hang Seng lost 1.1%. Tencent Holdings was the weakest performer, falling 4.9%, after disappointing results. China Construction Bank, New World Development, SHK Properties, ICBC, HSBC, and Bank of China surrendered between 0.7% and 1.4%.
China's Shanghai Composite settled lower by 0.5%. Sichuan Swellfun, BTG Hotels, Everbright Jiabao, Sino-Platinum Metals, Inner Mongolia Yili Industrial Group, and Shenzhen Geoway posted losses between 4.7% and 8.4%.
India's Sensex slipped 0.4%. Financials were among the laggards with SBI, ICICI Bank, AXIS Bank, and Yes Bank falling between 0.8% and 2.5%. Tech consultants also struggled with Wipro, Infosys, and Tata Consultancy losing between 0.9% and 2.3%.

Major European indices trade in negative territory with France's CAC (-1.5%) leading the retreat. The Bank of England left its key interest rate unchanged at 0.5%, as expected, but the decision was not unanimous (7-2). The latest monthly report from Germany's finance ministry noted that economic growth slowed down at the start of 2018, acknowledging that German exports are at risk due to U.S. tariffs. The Swiss National Bank's annual report revealed the central bank spent nearly CHF50 billion on FX intervention in 2017. In Italy, acting Prime Minister Paolo Gentiloni could resign once parliamentary speakers are designated.

In economic data:
Eurozone March Manufacturing PMI 56.6 (expected 58.1; last 58.6) and Services PMI 55.0 (expected 56.0; last 56.2). January Current Account surplus EUR37.60 billion (expected EUR30.20 billion; last EUR31.00 billion)
Germany's March Manufacturing PMI 58.4 (expected 59.8; last 60.6) and Services PMI 54.2 (expected 55.0; last 55.3). March Ifo Business Climate 114.7, as expected (last 115.4). March Current Assessment 125.9 (expected 125.7; last 126.4) and Business Expectations 104.4, as expected (last 105.4)
UK's February Retail Sales +0.8% month-over-month (expected 0.4%; last -0.2%); +1.5% year-over-year (expected 1.3%; last 1.5%). February Core Retail Sales +0.6% month-over-month (expected 0.4%; last -0.2%); +1.1% year-over-year (expected 1.2%; last 1.3%)
France's March Manufacturing PMI 53.6 (expected 55.6; last 55.9) and Services PMI 56.8 (expected 57.0; last 57.4). March Business Survey 111, as expected (last 112)

---Equity Markets---

UK's FTSE is lower by 1.3%. Financials like Standard Chartered, HSBC, Barclays, RBS, RSA Insurance, Experian, and Prudential are down between 1.5% and 3.0%. On the upside, consumer names like Merlin Entertainments, Associated British Foods, and ITV are up between 0.1% and 1.5%.
France's CAC trades down 1.5% amid broad weakness. Bank stocks are among the laggards with Societe Generale, AXA, BNP Paribas, and Credit Agricole showing losses between 2.2% and 3.1%. Automakers Renault and Peugeot are down 1.3% and 0.9%, respectively.
Germany's DAX is down 1.4% with Commerzbank falling 7.5%. Deutsche Bank has also struggled, trading lower by 3.9%. Other heavyweights like Siemens, BASF, Bayer, Merck, Daimler, and Volkswagen sport losses between 1.5% and 2.7%.


08:32AM ET
[BRIEFING.COM] S&P futures vs fair value: -16.30. Nasdaq futures vs fair value: -63.50.

The S&P 500 futures are trading 16 points, or 0.6%, below fair value.

Just in, the latest weekly initial jobless claims count totaled 229,000, while the Briefing.com consensus expected a reading of 225,000. Today's tally was above the unrevised prior week count of 226,000. As for continuing claims, they declined to 1.828 million from a revised count of 1.885 million (from 1.879 million).

08:02AM ET
[BRIEFING.COM] S&P futures vs fair value: -15.50. Nasdaq futures vs fair value: -63.50.

U.S. equities endured sharp swings on Wednesday afternoon, escaping the session with minimal damage, after the Fed released its latest policy directive, which raised rates by 25 basis points and indicated that the central bank still anticipates hiking rates two more times this year. Wall Street is on course to extend weekly losses at today's opening bell though, as the S&P 500 futures are currently trading 16 points, or 0.6%, below fair value.

President Trump is expected to officially announce tariffs on Chinese imports today at 12:30 PM ET -- nearly one week after Reuters first reported that the president was considering the duties. The tariffs will reportedly be worth up to $60 billion and are expected to be targeted towards the technology sector as punishment for China's alleged intellectual property theft against U.S. tech companies. Beijing has threatened to retaliate by slapping tariffs on U.S. agricultural exports, a promise that's reignited fears of a tit-for-tat trade war.

Overseas, equity indices in Asia finished Thursday mixed after the central banks in China and Hong Kong followed yesterday's rate hike from the Fed with rate increases of their own. The major bourses in Europe are broadly lower this morning, showing losses between 0.7% and 1.1%.

Outside of equities, U.S. Treasuries are mostly higher in early action, although the 2-yr note is exhibiting relative weakness, pushing its yield up one basis point to 2.32%. Conversely, the yield on the benchmark 10-yr note is down five basis points at 2.86%. Meanwhile, the U.S. Dollar Index is flat at 89.31, and West Texas Intermediate crude futures are down 0.4% at $64.92 per barrel after rallying to their highest level in nearly seven weeks on Wednesday.

Investors will receive a sizable batch of economic data today, including 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.

In U.S. corporate news:

Darden Restaurants (DRI 90.50, -2.81): -3.0% despite beating profit estimates for its fiscal third quarter.
Guess? (GES 17.02, +1.50): +9.7% after beating earnings and revenue estimates for Q4 and issuing upbeat guidance for FY19.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a mixed note. Japan's Nikkei +1.0%, Hong Kong's Hang Seng -1.1%, China's Shanghai Composite -0.5%, India's Sensex -0.4%.
In economic data:
Australia's February Employment Change 17,500 (expected 19,800; previous 12,500) and Full Employment Change 64,900 (last -53,200). February Participation Rate 65.7% (expected 65.6%; last 65.6%) and February Unemployment Rate 5.6% (expected 5.5%; last 5.5%)
Japan's March Manufacturing PMI 53.2 (expected 54.3; last 54.1) and All Industries Activity Index -1.8% month-over-month (expected -1.7%; last 0.6%)
In news:
Yesterday's FOMC rate hike was followed by rate increases in China and Hong Kong. The People's Bank of China increased its 7-day repo rate five basis points to 2.55% while Hong Kong Monetary Authority raised its base rate 25 basis points to 2.00%. Both increases were expected by the market.
Moody's noted that U.S. tariffs on aluminum and steel imports have had little impact on China, but an expansion of protectionist measures would present greater challenges.
The Reserve Bank of New Zealand left its official cash rate at 1.75%, as expected.

Major European indices trade in negative territory. UK's FTSE -0.7%, France's CAC -1.1%, Germany's DAX -1.1%.
In economic data:
Eurozone March Manufacturing PMI 56.6 (expected 58.1; last 58.6) and Services PMI 55.0 (expected 56.0; last 56.2). January Current Account surplus EUR37.60 billion (expected EUR30.20 billion; last EUR31.00 billion)
Germany's March Manufacturing PMI 58.4 (expected 59.8; last 60.6) and Services PMI 54.2 (expected 55.0; last 55.3). March Ifo Business Climate 114.7, as expected (last 115.4). March Current Assessment 125.9 (expected 125.7; last 126.4) and Business Expectations 104.4, as expected (last 105.4)
UK's February Retail Sales +0.8% month-over-month (expected 0.4%; last -0.2%); +1.5% year-over-year (expected 1.3%; last 1.5%). February Core Retail Sales +0.6% month-over-month (expected 0.4%; last -0.2%); +1.1% year-over-year (expected 1.2%; last 1.3%)
France's March Manufacturing PMI 53.6 (expected 55.6; last 55.9) and Services PMI 56.8 (expected 57.0; last 57.4). March Business Survey 111, as expected (last 112)
In news:
The latest monthly report from Germany's finance ministry noted that economic growth slowed down at the start of 2018, acknowledging that German exports are at risk due to U.S. tariffs.
The Swiss National Bank's annual report revealed the central bank spent nearly CHF50 billion on FX intervention in 2017.
In Italy, acting Prime Minister Paolo Gentiloni could resign once parliamentary speakers are designated.


07:41AM ET
[BRIEFING.COM] S&P futures vs fair value: -13.30. Nasdaq futures vs fair value: -58.30.

06:55AM ET
[BRIEFING.COM] S&P futures vs fair value: -18.50. Nasdaq futures vs fair value: -78.00.

06:54AM ET
[BRIEFING.COM] Nikkei...21592...+211.00...+1.00%. Hang Seng...31071...-343.50...-1.10%.

06:54AM ET
[BRIEFING.COM] FTSE...7001.35...-37.60...-0.50%. DAX...12202.18...-107.00...-0.90%.

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.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. Also, thank you for the review of TheStrategyLab performance record...hopefully the links and data will be useful for you. gm

Image Price Action Trading @ http://www.thestrategylab.com/price-action-trading.htm

Image Trade Strategies via Volatility Analysis @ http://www.thestrategylab.com/VolatilityTrading.htm

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

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

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

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

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

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


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