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 Post subject: March 23rd Friday Price Action Trade Result Profit $5612.50
PostPosted: Fri Mar 23, 2018 6:47 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3139
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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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 @ $5,612.50 dollars or +112.25 points, Light Crude Oil CL ($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 @ $5,612.50 dollars

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

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=178&t=2782

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 chat room or private thread discussions

The Market at 04:30PM ET
Dow: -424.69… | Nasdaq: -174.01… | S&P: -55.43…
NASDAQ Vol: 2.37 bln… Adv: 622… Dec: 2327…
NYSE Vol: 989.0 mln… Adv: 587… Dec: 2359…

Moving the Market

Top-weighted technology and financials sectors underperform

Soft response from China following US tariffs; threatens duties of up to $3 billion on US imports after the US imposed duties of up to $60 billion on Chinese imports

Micron (MU) leads chipmakers lower following earnings

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

04:30PM ET

[BRIEFING.COM] Stocks dropped again on Friday, piling on losses for the week; the S&P 500 tumbled 2.1% to 2588.26, the Nasdaq Composite declined 2.4% to 6992.67, and the Dow Jones Industrial Average slid 1.8% to 23533.20 -- its worst close since November 2017. The three major indices finished the week with losses between 5.7% and 6.5%.

Tariff talk carried over into Friday's session after China urged the U.S. to "pull back from the brink" following President Trump's Thursday decision to implement tariffs of up to $60 billion on Chinese imports -- which he says are a response to China's alleged intellectual property theft against U.S. tech companies. Beijing threatened to retaliate with tariffs on 128 U.S. products -- including wine, pork, fresh fruit, ethanol, and steel -- but investors took solace in the fact that those products represent a mere $3 billion of total value -- barely a drop in the bucket.

While fear of a trade war likely played a role in Friday's sell off, several other factors also persuaded buyers to stay on the sidelines, including the understanding that the Fed is operating with a tightening bias, the underperformance of the top-weighted technology and financials sectors, and the continued lack of technical support -- the S&P 500 has been beneath its 50-day simple moving average (2742) since Monday. It's worth noting that the benchmark index finished Friday just a tick above its 200-day simple moving average (2585).

All 11 S&P sectors finished in negative territory, with the financials (-3.0%), technology (-2.7%), and health care (-2.1%) sectors leading the retreat. The energy sector was the top performer, benefiting from a 2.4% increase in WTI crude ($65.87/bbl), but still finished with a loss of 0.6%.

In earnings news, Micron (MU 54.21, -4.71) tumbled 8.0% on Friday despite beating profit estimates for its fiscal second quarter and raising its earnings guidance for Q3, while Dow component Nike (NKE 64.63, +0.21) finished with a gain of 0.3% after reporting better-than-expected earnings and revenues for its fiscal third quarter.

Overseas, equity markets in Asia sold off sharply on Friday, with China's Shanghai Composite and Japan's Nikkei losing 3.4% and 4.5%, respectively. Meanwhile, the major bourses in Europe also finished the week on a broadly lower note, losing between 0.4% and 1.8%. The Euro Stoxx 50 (-1.3%) closed at its lowest level in more than a year.

Reviewing Friday's economic data, which was limited to the February readings for Durable Goods Orders and New Home Sales:

February durable goods orders climbed 3.1%, which is more than the 1.5% increase expected by the Briefing.com consensus. The prior month's reading was revised to -3.5% (from -3.7%). Excluding transportation, durable orders increased 1.2% (Briefing.com consensus +0.6%) to follow the prior month's revised decrease of 0.2% (from -0.3%).
The key takeaway from the report is that it showed a welcome rebound in business spending that has mitigated some of the nervousness about the loss of economic momentum seen in the data of late.
New Home Sales in February hit an annualized rate of 618,000, which is below the Briefing.com consensus of 620,000. The January reading was revised to 622,000 (from 593,000).
The key takeaway from the report is that new home sales declined for the third consecutive month, but are up 0.5% year-over-year.

Investors will not receive any economic data on Monday.

Nasdaq Composite: +1.3% YTD
S&P 500: -3.2% YTD
Dow Jones Industrial Average: -4.8% YTD
Russell 2000: -1.7% YTD

Week In Review: Another Negative (and Noisy) Week

Equities dropped sharply this week, giving up ground for the second week in a row, as investors took in the latest policy directive from the Fed, a new round of tariffs from the White House, and cries for greater data regulation following a scandal involving Facebook (FB). The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average finished with losses between 5.7% and 6.5%, which marks their worst week since the big sell off in early February.

Facebook kicked off the week by declining nearly 7.0% on Monday following reports that research firm Cambridge Analytica mined the data of 50 million Facebook users without their consent, and then used that data to deliver targeted pro-Trump ads during the 2016 presidential campaign. The incident has given new life to proponents of data regulation and, in turn, been a headwind for shares of social media companies, which would likely see a decline in profits due to said regulations.

Investors turned their attention to monetary policy on Wednesday when the Federal Reserve increased the fed funds target range by 25 basis points to 1.50%-1.75%, as widely expected, and left its forecast for a total of three rate hikes this year intact. The latter was a relief for investors, who thought that the central bank might raise its 2018 forecast to include a fourth rate increase. However, the Fed does anticipate that it will need to be somewhat more aggressive in tightening policy over the next two years (2019-2020).

Trade war fears came back into the mix on Thursday after President Trump signed a presidential memorandum that allows for tariffs on up to $60 billion worth of Chinese goods. The tariffs, which the president says are punishment for China's alleged intellectual property theft against U.S. tech companies, prompted a retaliation response from China, which said it plans to levy duties of up to $3 billion on U.S. imports -- a drop in the bucket considering the overall value of imported goods to China.

11 of 11 S&P sectors finished the week in negative territory, with the top-weighted technology (-7.9%), financials (-7.2%), and health care (-6.8%) groups leading the retreat. The energy sector (-0.9%) was the top performer, benefiting from an increase in the price of crude oil; West Texas Intermediate crude futures jumped 5.7% to $65.87 per barrel -- their best level since late January. The crude rally was helped by the EIA's weekly inventory report, which showed that U.S. crude stockpiles declined for the first time in three weeks.

A breakdown of technical support played into this week's selling after the S&P 500 dropped comfortably below its 50-day simple moving average (2743) at Monday's opening bell. The benchmark index finished Friday just a tick above its 200-day simple moving average (2585).
Dow: -424.69… | Nasdaq: -174.01… | S&P: -55.43…
NASDAQ Adv/Dec 622/2327. …NYSE Adv/Dec 587/2359.

03:30PM ET
[BRIEFING.COM]

Commodities ending the day higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are +0.4% at 87.4415
The dollar index is -0.5% at 89.05
Energy:
Mar WTI crude oil futures settled +$1.57 (2.4%) at $65.87/barrel on the day
In other energy, Mar natural gas settled -$0.03 at $2.59/MMBtu
Metals:
Apr gold settled +$22.00 at $1349.60/oz, while Mar silver settled +$0.18 to $16.58/oz
Mar copper settled -$0.02 at $2.99/lb

Dow: -294.40… | Nasdaq: -125.37… | S&P: -41.07…
NASDAQ Adv/Dec 704/2205. …NYSE Adv/Dec 754/2153.

03:00PM ET

[BRIEFING.COM] The major averages have dropped to new lows with just one hour left, now holding losses between 0.7% and 1.3%.

10 of 11 sectors are trading in the red, including financials (-2.0%), consumer discretionary (-1.3%), industrials (-0.6%), materials (-1.3%), technology (-1.6%), health care (-1.2%), consumer staples (-0.5%), utilities (-1.0%), telecom services (-1.2%), and real estate (-0.7%). The energy sector (+0.1%) is the lone advancer.

In the bond market, U.S. Treasuries are ready to wrap up their trading day little changed. The yield on the benchmark 10-yr note is unchanged at 2.83%, while the yield on the 2-yr note is down one basis point at 2.27%. For the week, the 10-yr yield is down two basis points.
Dow: -194.64… | Nasdaq: -102.26… | S&P: -31.40…
NASDAQ Adv/Dec 581/1607. …NYSE Adv/Dec 836/2059.

02:25PM ET

[BRIEFING.COM] Earlier this afternoon at the White House, President Donald Trump signed a $1.3 trillion spending package, funding the government through September.

The bill included $700 billion for defense, $1.6 billion for border security, and a more strict system for gun purchases. The president avoided a government shutdown which momentarily seemed possible this morning when the president tweeted his intention to veto the bill, owing to bipartisan disagreements about defense spending.

Though President Trump ultimately signed the bill, he expressed there were a few items he was not pleased with, and asked Congress to give him line-item veto power for all government spending bills.

Following the signing of the bill the broader market moved slightly higher, but quickly retraced those gains and still trades within its range on Friday. The US Dollar Index is near lows, down 0.4% at 89.48.
Dow: +68.62… | Nasdaq: -48.22… | S&P: -3.52…
NASDAQ Adv/Dec 816/1525. …NYSE Adv/Dec 1097/1768.

01:55PM ET

[BRIEFING.COM] The Dow Jones Industrial Average holds its own above Thursday's close with the major averages still comfortably within their daily ranges.

In the energy (+1.0%) sector, trading outperforms the broader market owing to strength in oil and some decent performances out of blue-chip energy names. Exxon Mobil (XOM 73.91, +0.41, +0.6%), Chevron (CVX 114.95, +1.25 +1.1%), ConocoPhillips (COP 58.04, +1.54, +2.7%), and Phillips 66 (PSX 95.40, +0.70, +0.7%) all outperform the broader market today.

Extending its month-to-date lead, the S&P 500 energy sector now trades about +2.1% in March with the next closest sector, utilities, sporting month-to-date gains of about 1.5%.

West Texas Intermediate crude oil futures for March delivery were up about 1.8% in recent trade to about $65.45/barrel. Brent oil futures for May delivery boast gains of 1.6% today to about $70.03/barrel.
Dow: +25.46… | Nasdaq: -7.70… | S&P: -7.28…
NASDAQ Adv/Dec 1040/1352. …NYSE Adv/Dec 1314/1538.

01:25PM ET

[BRIEFING.COM] The major U.S. indices are mostly lower as investors weigh the impact of China's retaliation threat; the country said it will levy duties of up to $3 billion on U.S. imports after President Trump slapped tariffs on a list of Chinese goods yesterday.

A look inside the Dow Jones Industrial Average shows that DowDuPont (DWDP 64.10, -1.47), 3M (MMM 219.46, -3.71), and Pfizer (PFE 35.21, -0.38) are underperforming. Pfizer is down after GlaxoSmithKline (GSK 37.74, +1.59) announced it's pulling out of the race to buy the company's consumer health care business.

Conversely, Nike (NKE 66.07, +1.65) is the best-performing Dow component after beating earnings and revenue estimates for its fiscal third quarter.

At current levels, the DJIA is down 3.9% this week.
Dow: +16.31… | Nasdaq: -34.40… | S&P: -6.94…
NASDAQ Adv/Dec 955/1508. …NYSE Adv/Dec 1171/1677.

01:00PM ET

[BRIEFING.COM] Equities opened Friday's session in positive territory, but have since dropped into the red, extending losses for the week. The S&P 500 has lost 0.4% today, while the Nasdaq is down 0.7% and the Dow is lower by 0.2%. For the week, the three indices are down between 4.2% and 4.9%.

Trading has been choppy; the S&P 500 has been up as much as 0.5% and down as much as 0.7% with no apparent catalysts to credit for the abrupt moves. 10 of 11 S&P sectors are currently trading in the red, led by the top-weighted technology (-0.9%) and financials (-1.1%) groups. Energy is the lone advancer, benefiting from another positive day in the crude oil futures market; West Texas Intermediate crude futures are up 1.6% at $65.30 per barrel.

Equity markets overseas had a rough outing on Friday, with Japan's Nikkei (-4.5%) and Germany's DAX (-1.8%) leading their respective regions lower.

China has urged the U.S. to "pull back from the brink" after President Trump signed a presidential memorandum on Thursday to implement tariffs of up to $60 billion on Chinese imports -- which he says are a response to China's alleged intellectual property theft against U.S. tech companies. Beijing said it plans to retaliate, as expected, but its proposed response is softer than many were anticipating, calling for duties of just $3 billion on U.S. imports -- which is barely a drop in the bucket of the overall value of imported goods to China.

Separately, President Trump has threatened to veto the $1.3 trillion omnibus spending bill that Congress passed on Thursday evening, unexpectedly putting a government shutdown on the table -- the current funding bill is set to expire at midnight. The president will host a news conference concerning the bill at 1:00 PM ET.

In corporate news, Micron (MU 54.66, -4.26) has dropped 7.2% to a two-week low despite beating profit estimates for its fiscal second quarter and raising its earnings guidance for Q3. Fellow chipmakers have followed Micron lower, pushing the PHLX Semiconductor Index down 1.9%. Conversely, Dow component Nike (NKE 65.87, +1.45) is up 2.3% after reporting better-than-expected earnings and revenues for its fiscal third quarter.

U.S. Treasuries are mostly flat despite the volatility in the equity market, leaving the benchmark 10-yr yield unchanged at 2.83%. The 2-yr note has shown relative strength though, pushing its yield lower by one basis point to 2.27%.

On the data front, investors received just two economic reports today, the February readings for Durable Goods Orders and New Home Sales:

February durable goods orders climbed 3.1%, which is more than the 1.5% increase expected by the Briefing.com consensus. The prior month's reading was revised to -3.5% (from -3.7%). Excluding transportation, durable orders increased 1.2% (Briefing.com consensus +0.6%) to follow the prior month's revised decrease of 0.2% (from -0.3%).
The key takeaway from the report is that it showed a welcome rebound in business spending that has mitigated some of the nervousness about the loss of economic momentum seen in the data of late.
New Home Sales in February hit an annualized rate of 618,000, which is below the Briefing.com consensus of 620,000. The January reading was revised to 622,000 (from 593,000).
The key takeaway from the report is that new home sales declined for the third consecutive month, but are up 0.5% year-over-year.

Dow: -79.27… | Nasdaq: -63.01… | S&P: -15.60…
NASDAQ Adv/Dec 834/1660. …NYSE Adv/Dec 1093/1756.

12:30PM ET

[BRIEFING.COM] Equity indices are still in negative territory, although they have ticked up from their session lows; the S&P 500 is down 0.3%.

The S&P 500 is hovering at 2630, which is roughly 50 points above its 200-day simple moving average (2585) and 100 points below its 50-day simple moving average (2742). The index hasn't been this low since February 9, when it touched its 200-day simple moving average for the first time in 15 months -- dating back to just before the U.S. presidential election on November 8, 2016.

In the bond market, U.S. Treasuries have moved minimally despite the volatility in equities. The yield on the benchmark 10-yr Treasury note is unchanged at 2.83%, while the 2-yr yield is down just one basis point at 2.27%.
Dow: -2.54… | Nasdaq: -37.85… | S&P: -5.91…
NASDAQ Adv/Dec 896/1616. …NYSE Adv/Dec 1183/1648.

12:00PM ET

[BRIEFING.COM] Stocks have shot lower over the last 30 minutes, pushing the S&P 500 (-0.7%) deep into negative territory.

The heavily-weighted financial sector (-1.6%) has led the charge lower, with names like Bank of America (BAC 29.73, -0.81), Citigroup (C 68.66, -1.63), and Morgan Stanley (MS 53.12, -1.51) holding losses of more than 2.0% apiece. At current levels, the financial sector is down 5.8% for the week.

Elsewhere, Dropbox (DBX 30.96, +9.91) recently opened for trading at $29 per share after pricing its IPO at $21 per share.
Dow: -86.10… | Nasdaq: -63.05… | S&P: -15.40…
NASDAQ Adv/Dec 796/1787. …NYSE Adv/Dec 1077/1763.

11:30AM ET

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

Micron (MU 55.92, -2.97) is leading chipmakers lower today. The company has lost 4.9%, dropping to a two-week low, despite reporting better-than-expected earnings for its fiscal second quarter and raising its profit guidance for Q3 on Thursday evening. The PHLX Semiconductor Index is down 1.4%.

Meanwhile, the top-weighted technology group, which houses chipmakers, is trading near the bottom of the sector standings with a loss of 0.2%. The only group doing worse is financials (-0.5%), which recently dropped to a new session low.
Dow: +41.21… | Nasdaq: -15.59… | S&P: +0.31…
NASDAQ Adv/Dec 1089/1540. …NYSE Adv/Dec 1443/1366.

11:00AM ET

[BRIEFING.COM] Stocks are modestly higher this morning, with the benchmark S&P 500 sporting a gain of 0.3%.

11 of 11 S&P sectors are currently trading in the green. Energy is leading the charge with a gain of 1.5%, helped by a sizable increase in the price of crude oil; West Texas Intermediate crude futures are up 1.6% at $65.32 per barrel. The industrials (+0.7%) and telecom services (+0.7%) sectors are battling for second place in the sector standings, while the remaining groups hold gains of 0.5% or less.

Financials (unch) is the worst-performing sector, keeping its weekly loss of 4.4% intact; for comparison, the S&P 500 is down 3.7% week to date.
Dow: +98.78… | Nasdaq: +7174.27… | S&P: +6.42…
NASDAQ Adv/Dec 1208/1413. …NYSE Adv/Dec 1532/1230.

10:40AM ET
[BRIEFING.COM]

Commodities are beginning the day higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently +0.1% at 87.2042
Dollar index is currently -0.4% at 89.14
Looking at energy...
Mar WTI crude oil futures are now +$1.03 at $65.33/barrel
In other energy, Mar natural gas is -$0.01 at $2.61/MMBtu
Moving on to metals...
Apr gold is currently +$20.90 at $1348.30/oz, while Mar silver is +$0.22 at $16.61/oz
Mar copper is now -$0.00 at $3.00/lb

Dow: +89.74… | Nasdaq: +3.19… | S&P: +6.20…
NASDAQ Adv/Dec 1133/1529. …NYSE Adv/Dec 1480/1286.

10:05AM ET

[BRIEFING.COM] The major averages are mostly higher, with the S&P 500 up 0.2%.

Just in, New Home Sales in February hit an annualized rate of 618,000, which is below the Briefing.com consensus of 620,000. The January reading was revised to 622,000 (from 593,000).
Dow: +102.59… | Nasdaq: -7.46… | S&P: +5.39…
NASDAQ Adv/Dec 1115/1541. …NYSE Adv/Dec 1473/1221.

09:45AM ET

[BRIEFING.COM] The major averages are mixed in early action, hovering near their unchanged marks.

Most S&P 500 sectors are higher, but the top-weighted technology (-0.2%), health care (-0.1%), and financials (unch) groups have ticked lower. The energy (+0.5%), consumer staples (+0.5%), and utilities (+0.7%) sectors are the top-performing groups.

As a reminder, New Home Sales for February (Briefing.com consensus 620K) will be released at 10:00 AM ET.
Dow: +64.73… | Nasdaq: -7.12… | S&P: +3.16…
NASDAQ Adv/Dec 1273/1329. …NYSE Adv/Dec 1609/987.

09:14AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -18.30.

Futures have been ticking higher this morning and now point to a flat start for the U.S. equity market.

China has urged the U.S. to "pull back from the brink" after President Trump signed a presidential memorandum on Thursday to implement tariffs of up to $60 billion on Chinese imports -- which he says are a response to China's alleged intellectual property theft against U.S. tech companies. Beijing said it plans to retaliate, as expected, but its proposed response is softer than many were anticipating, calling for duties of just $3 billion on U.S. imports -- which is barely a drop in the bucket of the overall value of imported goods to China.

Separately, President Trump said he's considering a veto of the Omnibus spending bill, which Congress passed last night.

Overseas, equity indices in the Asia-Pacific region were hit hard on Friday, with Japan's Nikkei tumbling 4.5%. The major bourses in Europe are also solidly lower this morning, dropping to their worst levels of the year; the UK's FTSE is down 0.5%, while France's CAC and Germany's DAX show losses of 1.3% and 1.4%, respectively. The U.S. dollar is down 0.3% against the euro at 1.2343 and down 0.2% against the Japanese yen at 105.12.

In corporate news, Target (TGT 70.50, +1.61) and Kroger (KR 24.35, +0.96) are up 2.3% and 4.1%, respectively, in pre-market trading following reports that the two companies are contemplating a merger. Meanwhile, Nike (NKE 67.00, +2.58) is up 4.0% after reporting better-than-expected earnings and revenues, but Micron (MU 57.21, -1.71) is down 2.9% despite beating quarterly profit estimates.

U.S. Treasuries are slightly lower following a big rally on Thursday, pushing the benchmark 10-yr yield one basis point higher to 2.84%.

On the data front, February durable goods orders climbed 3.1%, which is more than the 1.5% increase expected by the Briefing.com consensus. The prior month's reading was revised to -3.5% (from -3.7%). Excluding transportation, durable orders increased 1.2% (Briefing.com consensus +0.6%) to follow the prior month's revised decrease of 0.2% (from -0.3%).

Today's last economic report, New Home Sales for February (Briefing.com consensus 620K), will be released at 10:00 AM ET.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: -16.30.

The S&P 500 futures trade in line with fair value.

Equity indices in the Asia-Pacific region ended the week on a lower note as growing worries about the strength of corporate credit and increased trade tensions weighed on capital markets. China's Ministry of Commerce announced it will impose reciprocal tariffs on imports of U.S. steel, aluminum, pork, and wine. In 2017, China imported $3 billion worth of these products. In Japan, the ruling LDP will pursue a constitutional amendment that would acknowledge the existence of self-defense forces without removing the verbal ban on a military with war capability. Japan's 10-yr yield edged down two basis points, falling to 0.02%, its lowest level since late 2017.

In economic data:
Japan's February National CPI +0.1% month-over-month (last 0.4%); +1.5% year-over-year, as expected (last 1.4%). February National Core CPI +1.0% year-over-year, as expected (last 0.9%). Weekly foreign Investment in Japanese stocks -JPY1.15 trillion (last -JPY432.30 billion)
Singapore's February CPI +0.5% year-over-year (expected 0.5%; last 0.4%)

---Equity Markets---

Japan's Nikkei dove 4.5%, sliding 4.9% for the week. Ebara, Showa Denko, Yamaha Motor, Okuma, Konami, NSK, Komatsu, Fast Retailing, Daikin Industries, Trend Micro, and Tokyo Electron posted losses between 5.7% and 8.1%. On the upside, only Kansai Electric Power and Japan Tobacco escaped with gains, adding 1.1% and 0.1%, respectively.
Hong Kong's Hang Seng slumped 2.5%, surrendering 3.8% for the week. Apple suppliers AAC Technologies and Sunny Optical Tech paced the retreat with respective losses of 6.8% and 5.5%. Geely Automobile dropped 4.6% while financials like Ping An Insurance, Bank of East China, BoC Hong Kong, and ICBC lost between 2.1% and 3.7%.
China's Shanghai Composite ended lower by 3.4%, extending this week's loss to 3.6%. Hunan Copote Science Technology, Shanghai Belling, Shanghai Material Trading, Shangying Global, and Hangzhou Silan Microelectronics all lost near 10.0%.
India's Sensex surrendered 1.2%, falling 2.1% for the week. Financials were among the biggest laggards with Yes Bank, AXIS Bank, SBI, and ICICI Bank losing between 2.7% and 3.9%. Tech consultants were mixed as Infosys gained 0.8% while Tata Consultancy and Wipro lost 0.5% and 1.4%, respectively.

Major European indices trade lower across the board, falling to their worst levels of the year. In Germany, shares of Deutsche Bank (-3.1%) have extended this week's loss to 12.1% amid growing concerns about the health of the financial giant who boasts the world's biggest derivates book. European Commission President Donald Tusk said the EU has approved guidelines for the EU-UK relationship following the completion of Brexit. In Italy, Lega leader Matteo Salvini said he will not break up the center-right coalition.

In economic data:
Spain's February PPI +1.3% year-over-year (last 0.0%)

---Equity Markets---

UK's FTSE is down 0.5% with consumer names and financials among the laggards. Merlin Entertainments, Burberry, InterContinental Hotels, Old Mutual, Standard Chartered, Aviva, Barclays, RBS, and HSBC hold losses between 0.9% and 2.6%.
France's CAC has given up 1.2%. STMicroelectronics has slumped 3.5% while heavyweights like Credit Agricole, BNP Paribas, Societe Generale, Kering, and Louis Vuittton show losses between 1.2% and 2.4%.
Germany's DAX is down 1.4% with all but one component trading in negative territory. Deutsche Bank is down 3.1% while Lufthansa, Continental, Volkswagen, BMW, Daimler, Bayer, and BASF are down between 1.2% and 2.7%.


08:33AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: -5.00.

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

Just in, February durable goods orders climbed 3.1%, which is more than the 1.5% increase expected by the Briefing.com consensus. The prior month's reading was revised to -3.5% (from -3.7%). Excluding transportation, durable orders increased 1.2% (Briefing.com consensus +0.6%) to follow the prior month's revised decrease of 0.2% (from -0.3%).

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -38.00.

Equities dropped sharply on Thursday, with the major averages losing between 2.4% and 2.9%, as investors digested another round of tariffs from the White House. The losses look set to continue this morning, as the S&P 500 futures are trading five points, or 0.2%, below fair value. For the week, the S&P 500 is down 3.9%.

China has urged the U.S. to "pull back from the brink" after President Trump signed a presidential memorandum on Thursday to implement tariffs of up to $60 billion on Chinese imports -- which he says are a response to China's alleged intellectual property theft against U.S. tech companies. Beijing announced that it plans to retaliate by levying duties of up to $3 billion on U.S. imports, a threat that has reignited fears of a global trade war this morning.

Overseas, equity indices in the Asia-Pacific region were hit hard on Friday, with Japan's Nikkei tumbling 4.5%. The major bourses in Europe are also solidly lower this morning, dropping to their worst levels of the year; the UK's FTSE is down 0.6%, while France's CAC and Germany's DAX show losses of 1.4% and 1.6%, respectively. The U.S. dollar is down 0.3% against the euro at 1.2342, and down 0.3% against the Japanese yen at 104.99.

In the bond market, U.S. Treasuries are flat this morning following a big rally on Thursday; the benchmark 10-yr yield is unchanged at 2.83%.

Investors will receive just two economic reports today -- 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.

In U.S. corporate news:

Nike (NKE 67.40, +2.98): +4.6% after reporting better-than-expected quarterly earnings and revenues.
Micron (MU 57.15, -1.77): -3.0% despite beating quarterly profit estimates.
KB Home (KBH 29.85, +1.01): +3.5% after reporting upbeat earnings for its fiscal first quarter.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a lower note as growing worries about the strength of corporate credit and increased trade tensions weighed on capital markets. Japan's Nikkei -4.5%, Hong Kong's Hang Seng -2.5%, China's Shanghai Composite -3.4%, India's Sensex -1.2%.
In economic data:
Japan's February National CPI +0.1% month-over-month (last 0.4%); +1.5% year-over-year, as expected (last 1.4%). February National Core CPI +1.0% year-over-year, as expected (last 0.9%). Weekly foreign Investment in Japanese stocks -JPY1.15 trillion (last -JPY432.30 billion)
Singapore's February CPI +0.5% year-over-year (expected 0.5%; last 0.4%)
In news:
China's Ministry of Commerce announced it will impose reciprocal tariffs on imports of U.S. steel, aluminum, pork, and wine. In 2017, China imported $3 billion worth of these products.
In Japan, the ruling LDP will pursue a constitutional amendment that would acknowledge the existence of self-defense forces without removing the verbal ban on a military with war capability. Japan's 10-yr yield edged down two basis points, falling to 0.02%, its lowest level since late 2017.

Major European indices trade lower across the board, falling to their worst levels of the year. UK's FTSE -0.6%, France's CAC -1.4%, Germany's DAX -1.6%.
In economic data:
Spain's February PPI +1.3% year-over-year (last 0.0%)
In news:
In Germany, shares of Deutsche Bank (-3.1%) have extended this week's loss to 12.1% amid growing concerns about the health of the financial giant who boasts the world's biggest derivates book.
European Commission President Donald Tusk said the EU has approved guidelines for the EU-UK relationship following the completion of Brexit.
In Italy, Lega leader Matteo Salvini said he will not break up the center-right coalition.


06:28AM ET
[BRIEFING.COM] S&P futures vs fair value: -15.50. Nasdaq futures vs fair value: -71.00.

06:28AM ET
[BRIEFING.COM] Nikkei...20,617.86...-974.10...-4.50%. Hang Seng...30,309.29...-761.80...-2.50%.

06:28AM ET
[BRIEFING.COM] FTSE...6,892.42...-60.20...-0.90%. DAX...11,849.78...-250.30...-2.10%.

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.

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

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

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

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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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