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 26th Monday Price Action Trade Result - No Trades
PostPosted: Tue Mar 27, 2018 9:09 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)
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Twitter @ http://twitter.com/wrbtrader (24/7)

Quote:
No trades today for me because of problems with software updates along with the fact there was family distractions (son stayed home from school because of illness) 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=2783

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: +669.40… | Nasdaq: +227.88… | S&P: +70.29…
NASDAQ Vol: 2.29 bln… Adv: 2119… Dec: 856…
NYSE Vol: 899.3 mln… Adv: 2276… Dec: 685…

Moving the Market

Wall Street Journal reports that the U.S. and China have started negotiating to improve American access to Chinese markets, easing fears of a trade war

Top-weighted technology and financials sectors outperform, lead the broader market higher

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

04:30PM ET

[BRIEFING.COM] Stocks rebounded on Monday, reclaiming around two fifths of last week's decline, with technology and financial shares leading the charge. The S&P 500 advanced 2.7% to 2658.55, the Dow Jones Industrial Average jumped 2.8% to 24202.60, the Nasdaq Composite climbed 3.3% to 7220.54, and the Russell 2000 rose 2.2% to 1543.72.

The market opened on a solidly higher note following a Sunday report from the Wall Street Journal that the U.S. and China have started negotiating to improve American access to Chinese markets -- which helped ease fears of a trade war in the shadow of last week's tariff announcement; President Trump announced last Thursday that the U.S. will impose tariffs of up to $60 billion on Chinese imports, an act that was followed by threats of retaliation from Beijing.

However, the positive energy soon faded following the opening bell and was replaced with a feeling of nervousness, as it looked like the market might roll over; within the first two hours of trading, the S&P 500 trimmed its opening gain of 1.8% to just 0.5%. Luckily for the bulls, the benchmark index reversed course around the 2600 mark and kept climbing through the closing bell. The major averages finished the session at their best marks of the day.

Each of the S&P 500's 11 sectors advanced on Monday, with gains ranging between 0.9% and 4.0%. The top-weighted technology (+4.0%) and financials (+3.2%) sectors provided leadership throughout the session, bouncing back from last week's highly disappointing performances. Within the tech space, Microsoft (MSFT 93.78, +6.60) soared 7.6% after Morgan Stanley raised its target price from $110 to $130 -- a new Street high. Chipmakers also outperformed, evidenced by the 4.2% increase in the PHLX Semiconductor Index, and Apple (AAPL 172.77, +7.83) jumped 4.8%.

Conversely, Facebook (FB 160.06, +0.67) held the tech space's gain in check, rising just 0.4%, after the Federal Trade Commission (FTC) confirmed that it has opened a non-public investigation into the company's privacy practices following the Cambridge Analytica data scandal. The social media giant was down as much as 6.5% on Monday, touching a nine-month low, before bouncing back.

In other corporate news, home improvement retailer Lowe's (LOW 89.30, +5.53) rallied 6.6% after announcing that its CEO, Robert Niblock, will retire after 13 years at the helm, and Finish Line (FINL 13.83, +3.28) spiked 31.1% after agreeing to be acquired by UK-based JD Sports Fashion for $13.50 per share in cash; that represents a premium of 28.0% from Friday's closing price. The total value of the deal is worth approximately $558 million.

The lightly-weighted utilities, consumer staples, telecom services, and real estate groups -- most of which are countercyclical -- were the worst-performing sectors on Monday, but still finished with gains between 0.9% and 1.4%. Meanwhile, the consumer discretionary sector (+2.9%) finished behind technology and financials at the top of the sector standings, led by internet retail giant Amazon (AMZN 1555.86, +60.30), which advanced 4.0%.

In the bond market, U.S. Treasuries ended Monday on a mostly lower note, pushing yields higher across the curve; the yield on the benchmark 10-yr Treasury note ticked up one basis point to 2.84%. The 2-yr yield advanced three basis points to 2.29% following a $30 billion 2-yr note auction that drew a high yield of 2.31% on a bid-to-cover of 2.91.

Investors did not receive any notable economic data on Monday, but will receive two reports -- the S&P Case-Shiller Home Price Index for January (Briefing.com consensus 6.3%) and the Conference Board's Consumer Confidence Index for March (Briefing.com consensus 129.5) -- on Tuesday morning.

Nasdaq Composite: +4.6% YTD
S&P 500: -0.6% YTD
Dow Jones Industrial Average: -2.1% YTD
Russell 2000: +0.5% YTD

Dow: +669.40… | Nasdaq: +227.88… | S&P: +70.29…
NASDAQ Adv/Dec 2119/856. …NYSE Adv/Dec 2276/685.

03:35PM ET
[BRIEFING.COM]

Commodities ending the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are -0.2% at 87.2526
The dollar index is -0.5% at 88.62
Energy:
Mar WTI crude oil futures settled -$0.37 at $65.50/barrel on the day
In other energy, Mar natural gas settled +$0.03 (+1.1%) at $2.66/MMBtu
Metals:
Apr gold settled +$5.20 at $1354.80/oz, while Mar silver settled +$0.02 to $16.68/oz
Mar copper settled -$0.02 at $2.97/lb

Dow: +638.19… | Nasdaq: +202.36… | S&P: +65.24…
NASDAQ Adv/Dec 2047/911. …NYSE Adv/Dec 2228/715.

02:55PM ET

[BRIEFING.COM] The major indices enter the final hour of action at session highs, sporting gains between 2.1% and 2.5%.

All 11 S&P sectors are trading in the green, with gains ranging between 0.7% and 3.2%. The top-weighted technology and financials sectors are the best-performing groups, up 3.2% and 2.8%, respectively, while the lightly-weighted utilities, telecom services, and real estate spaces underperform with losses of around 0.7% apiece.

Looking ahead, investors will receive the S&P Case-Shiller Home Price Index for January (Briefing.com consensus 6.3%) and the Conference Board's Consumer Confidence Index for March (Briefing.com consensus 129.5) tomorrow at 9:00 AM ET and 10:00 AM ET, respectively.
Dow: +548.20… | Nasdaq: +173.61… | S&P: +55.01…
NASDAQ Adv/Dec 888/963. …NYSE Adv/Dec 2098/838.

02:35PM ET

[BRIEFING.COM] The equity markets continue to drift higher on Monday with all three major averages currently at their best levels. The Dow Jones Industrial Average moves above 24K, up north of 500 points, or +2.2%. The Nasdaq Composite and the S&P 500, too, eclipse their best Monday levels.

The US dollar gains against the Japanese yen (+0.5%) to about 105.22 after a tough week last week. As tensions have slackened and the global trade rhetoric turns more subdued to begin the final week of March, the greenback turns in its first advance against the Asian currency in four sessions. Earlier in the US session, the Asian markets closed a mixed Monday as the Nikkei added 0.7% and the Shanghai Composite lost 0.6%.

Elsewhere, the dollar displays modest weakness against both the euro and the pound, -0.9% and -0.7%, respectively. Earlier in the session, the UK's FTSE index closed 0.5% lower, tapping a 15-month low as the pound and euro rally.

The US Dollar Index is down about half a percent to 89.01 in recent trade.
Dow: +507.57… | Nasdaq: +172.52… | S&P: +48.23…
NASDAQ Adv/Dec 965/948. …NYSE Adv/Dec 2108/832.

02:00PM ET

[BRIEFING.COM] The broader market is little changed since our last update; the benchmark index holds gains of about 1.4%.

After getting worked over last week, largely due to broader market weakness, the financial (+2.1%) sector goes toe-to-toe with the information technology (+2.3%) space today for top marks in the S&P. The space saw added pressure last week owing to global trade uncertainty which stemmed from concerns that China might retaliate against US-imposed tariffs on Chinese imports. Most of the largest US banks have a hand in financing global imports and exports.

Names like JPMorgan Chase (JPM 109.66, +2.65), Bank of America (BAC 29.99, +0.82), Wells Fargo (WFC 51.80, +0.82), and Citigroup (C 69.04, +1.14) turned in losses of worse than 6% apiece last week after getting beaten down by the broader market. Today, the group outpaces the broader market advance with gains of better than 1.6% across the board.

The Financial Sector SPDR (XLF 27.35, +0.53) is also outpacing broader market gains today, up 2.0%, following last week's decline of 7.1%.
Dow: +444.04… | Nasdaq: +112.41… | S&P: +41.08…
NASDAQ Adv/Dec 973/1118. …NYSE Adv/Dec 1936/980.

01:35PM ET

[BRIEFING.COM] The major U.S. indices remain broadly higher as stocks kick off the abbreviated trading week with strong gains amid easing trade war fears.

A look inside the Dow Jones Industrial Average shows that Microsoft (MSFT 92.94, +5.76), Intel (INTC 51.87, +2.51), & Apple (AAPL 169.70, +4.76) are outperforming. Microsoft is leading the Dow higher after analysts at Morgan Stanley lifted their price target on shares from $110 to $130, a new street high. Intel is also benefiting from some analyst commentary, having seen its shares receive an upgrade to Market Perform from Underperform at Raymond James.

Conversely, General Electric (GE 12.80, -0.27) is the worst-performing Dow component after the WSJ highlighted the company's remaining exposure to GE Capital.

Despite today's healthy advance, the DJIA is still down 4.3% this month.

Elsewhere, at the top of the hour, the Treasury's $30 bln 2-year auction drew a high yield of 2.31% on a bid-to-cover of 2.91.
Dow: +461.57… | Nasdaq: +130.21… | S&P: +43.15…
NASDAQ Adv/Dec 1013/1142. …NYSE Adv/Dec 1867/1034.

01:00PM ET

[BRIEFING.COM] Stocks have reclaimed a nice chunk of last week's losses today, with the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average adding between 1.3% and 1.6% apiece. The three major averages have been solidly higher since the opening bell and are currently hovering near the middle of their daily ranges.

A Wall Street Journal report that the U.S. and China have started negotiating to improve American access to Chinese markets has helped underpin today's advance, easing fears of a potential trade war. Last week, the White House announced it would be implementing tariffs of up to $60 billion on Chinese imports -- prompting an immediate threat of retaliation from Beijing.

The S&P 500's 200-day simple moving average (2586) has also helped bolster sentiment today after barring the benchmark index from further losses on Friday; the S&P 500 finished Friday just above the key technical level, keeping its weekly loss to 6.0%.

All 11 S&P sectors are trading in the green today, with the top-weighted financials and technology groups leading the charge; the two groups are up 2.3% and 2.1%, respectively. However, within the tech space, Facebook (FB 156.16, -3.24) is down 2.0% after the Federal Trade Commission (FTC) confirmed that it has opened a non-public investigation into the company's privacy practices. The social media giant has faced much scrutiny since reports last week that Cambridge Analytica mined the data of 50 million Facebook users without their consent.

Meanwhile, Microsoft (MSFT 92.29, +5.10) and Lowe's (LOW 88.46, +4.69) are the best-performing components in the S&P 500 today, advancing around 5.5% apiece. Microsoft is up after Morgan Stanley raised its target price from $110 to $130, which is a Street high, while Lowe's is rallying after announcing that its CEO, Robert Niblock, will retire after 13 years at the helm.

In M&A news, Finish Line (FINL 13.69, +3.14) has spiked 29.8% today after the athletic shoe retailer agreed to be acquired by UK-based JD Sports Fashion for $13.50 per share in cash; that represents a premium of 28.0% from Friday's closing price. The total value of the deal is worth approximately $558 million.

Overseas, equity indices in the Asia-Pacific region finished Monday mixed, with Japan's Nikkei adding 0.7% and China's Shanghai Composite losing 0.6%. The major bourses in Europe were higher through much of Monday's session, but a late sell off left them with losses between 0.5% and 0.8%.

Investors did not receive any notable economic data today.
Dow: +377.88… | Nasdaq: +94.29… | S&P: +33.30…
NASDAQ Adv/Dec 1072/1211. …NYSE Adv/Dec 1804/1067.

12:25PM ET

[BRIEFING.COM] The S&P 500 continues to drift near recent levels, showing a gain of 1.3%.

Shares of Finish Line (FINL 13.78, +3.23) are up 30.7% today after the athletic shoe retailer agreed to be acquired by UK-based JD Sports Fashion for $13.50 per share in cash; that represents a premium of 28.0% from Friday's closing price. The total value of the deal is approximately $558 million.

In Europe, the major bourses gave back morning gains to finish Monday with losses between 0.5% and 0.8%.
Dow: +385.27… | Nasdaq: +97.68… | S&P: +34.61…
NASDAQ Adv/Dec 1259/1105. …NYSE Adv/Dec 1920/947.

11:55AM ET

[BRIEFING.COM] The major averages are hovering near the middle of their daily ranges, showing gains between 1.2% and 1.5%.

Chipmakers are outperforming today, evidenced by the 2.0% increase in the PHLX Semiconductor Index. Dow component Intel (INTC 51.07, +1.71) shows particular strength, up 3.5%, after Raymond James upgraded shares to 'Market Perform' from 'Underperform' this morning. Conversely, Advanced Micro (AMD 10.26, -0.37) is struggling, down 3.4%, after Susquehanna downgraded shares to 'Negative' from 'Neutral.'

The top-weighted technology sector, which houses chipmakers, is in second place on today's leaderboard with a gain of 1.6%. Financials is the only group to hold a larger gain (+1.7%).
Dow: +361.60… | Nasdaq: +94.81… | S&P: +31.56…
NASDAQ Adv/Dec 1329/1097. …NYSE Adv/Dec 1896/963.

11:25AM ET

[BRIEFING.COM] Equities have continued trimming gains in recent action; the S&P 500 is now up 0.8% after holding a gain of around 2.0% at the opening bell.

Microsoft (MSFT 91.59, +4.38) and Lowe's (LOW 88.23, +4.46) are the best-performing components in the S&P 500 this morning, advancing around 5.0% apiece. Microsoft is up after Morgan Stanley raised its target price from $110 to $130, a Street high, while Lowe's is rallying after announcing that its CEO, Robert Niblock, will retire as soon as the company finds a successor. Mr. Niblock has served as the company's chief executive for the last 13 years.

Conversely, AbbVie (ABBV 93.81, -3.64) is one of the weakest S&P 500 components with a loss of 3.8%. ABBV shares have now dropped 16.4% since last Thursday when the drugmaker provided a disappointing update on its experimental cancer drug Rova-T.
Dow: +265.41… | Nasdaq: +52.89… | S&P: +21.51…
NASDAQ Adv/Dec 1283/1185. …NYSE Adv/Dec 1830/993.

10:55AM ET

[BRIEFING.COM] Stocks have come down from their opening levels, but are still sporting sizable gains.

The S&P 500 and the Nasdaq are up 1.3% apiece, while the Dow is higher by 1.5%. All 11 S&P sectors are trading in positive territory, showing gains between 0.6% and 1.9%. The top-weighted technology space is the top performer despite a 4.4% decline in shares of Facebook (FB 152.70, -6.66).

Facebook is selling off after the Federal Trade Commission (FTC) confirmed that it has opened a non-public investigation into the company's privacy practices. The social media giant has faced much scrutiny since reports last week that Cambridge Analytica mined the data of 50 million Facebook users without their consent.

FB shares are currently hovering at their lowest level since June 2017.
Dow: +351.81… | Nasdaq: +98.51… | S&P: +33.46…
NASDAQ Adv/Dec 1588/978. …NYSE Adv/Dec 2034/791.

10:30AM ET
[BRIEFING.COM]

Commodities are beginning the day slightly higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently +0.1% at 87.5195
Dollar index is currently -0.4% at 88.73
Looking at energy...
Mar WTI crude oil futures are now -$0.49 at $65.39/barrel
In other energy, Mar natural gas is +$0.03 at $2.66/MMBtu
Moving on to metals...
Apr gold is currently +$4.80 at $1354.70/oz, while Mar silver is +$0.17 at $16.75/oz
Mar copper is now unch at $2.99/lb

Dow: +331.53… | Nasdaq: +96.61… | S&P: +32.48…
NASDAQ Adv/Dec 1859/835. …NYSE Adv/Dec 2071/722.

09:55AM ET

[BRIEFING.COM] The S&P 500 is still solidly higher this morning, sporting a gain of 1.7%.

Today's gain has put the S&P 500 about 50 points above its 200-day simple moving average (2586), which the index finished a tick above on Friday. The S&P 500 hasn't closed below its 200-day simple moving average since June 2016 -- when it settled below the key technical level for just one day.

Meanwhile, the Dow is up 2.0%, and the Nasdaq trades higher by 1.8%.
Dow: +472.51… | Nasdaq: +128.74… | S&P: +46.08…
NASDAQ Adv/Dec 1992/697. …NYSE Adv/Dec 2202/541.

09:40AM ET

[BRIEFING.COM] The major averages are solidly higher, sporting gains between 1.7% and 2.1%.

11 of 11 S&P sectors are trading in the green, with the top-weighted technology (+2.6%) and financials (+2.6%) groups leading the charge. The consumer discretionary (+1.9%) sector is also exhibiting relative strength, while the lightly-weighted utilities (+0.6%) sector trades at the back of the pack.

Microsoft (MSFT 91.56, +4.41) is the top-performing Dow component, up 5.0%, after Morgan Stanley raised its one-year price target to $130 from $110.
Dow: +449.14… | Nasdaq: +141.89… | S&P: +46.93…
NASDAQ Adv/Dec 2138/578. …NYSE Adv/Dec 2374/359.

09:14AM ET
[BRIEFING.COM] S&P futures vs fair value: +38.00. Nasdaq futures vs fair value: +125.80.

Stocks are on course for a higher open, as the S&P 500 futures are trading 38 points, or 1.5%, above fair value.

A Wall Street Journal report that the U.S. and China have quietly started negotiating to improve American access to Chinese markets has helped underpin this morning's upbeat sentiment. In addition, the S&P 500's 200-day simple moving average (2585) has provided some technical support; the index finished just a few points above the key technical level on Friday.

In corporate news, Lowe's (LOW 89.20, +5.43) is up 6.5% in pre-market trading following news that its CEO Robert A. Niblock is set to retire, Microsoft (MSFT 90.11, +2.93) is up 3.4% after its target price was raised to $130 from $110 at Morgan Stanley, and Finish Line (FINL 13.73, +3.18) is up 30.1% after agreeing to be acquired by UK-based JD Sports Fashion for $13.50 per share.

U.S. Treasuries are under pressure this morning, pushing yields higher across the curve; the benchmark 10-yr yield is up one basis point at 2.84%.

Investors won't receive any economic data today, but retiring New York Fed President William Dudley is scheduled to speak at 12:30 PM ET.

08:59AM ET
[BRIEFING.COM] S&P futures vs fair value: +40.50. Nasdaq futures vs fair value: +131.50.

The S&P 500 futures are trading 41 points, or 1.6%, above fair value.

Equity indices in the Asia-Pacific region began the week on a mixed note. China launched a yuan-denominated crude oil contract to rival current dollar-denominated benchmarks like Brent and WTI. China's Ambassador to the United States Cui Tiankai said his country is analyzing all options in response to U.S. tariffs, including a potential reduction of U.S. Treasury purchases. Separate reports indicate U.S. and Chinese trade officials are working on an agreement to avert a trade war. The South Korean press reported that South Korea's Trade Ministry and U.S. counterparts have agreed in principle to renegotiate the current trade agreement.

In economic data:
New Zealand's February trade surplus NZD217 million (expected deficit NZD100; last deficit NZD655 million). February Imports NZD4.24 billion (expected NZD4.63 billion; last NZD4.94 billion) and February Exports NZD4.46 billion (expected NZD4.56 billion; last NZD4.29 billion)
Singapore's February Industrial Production -0.5% month-over-month (expected -8.4%; last 4.7%); +8.9% year-over-year (consensus 5.1%; last 16.9%)

---Equity Markets---

Japan's Nikkei gained 0.7%. Tokuyama, Shiseido, Kubota, Olympus, Japan Tobacco, Fanuc, Konami, Fast Retailing, Kikkoman, and Kyocera gained between 1.2% and 3.7%.
Hong Kong's Hang Seng climbed 0.8%. Energy-related names outperformed with China Petrol & Chemical, PetroChina, and CNOOC gaining between 1.4% and 5.2%. Financials like AIA Group, ICBC, HSBC, Bank of East Asia, and Bank of China added between 0.2% and 2.1%.
China's Shanghai Composite lost 0.6%. China World Trade Center, Shanghai Kai Kai Industrial, Linhai, VV Food & Beverage, and China Fortune Land Development posted losses between 5.1% and 6.9%.
India's Sensex gained 1.4% with bank stocks fueling the advance. Yes Bank, SBI, HDFC Bank, ICICI Bank, and AXIS Bank rose between 1.3% and 5.7%. Tata Steel, Larsen & Toubro, and Bajaj Auto advanced between 1.7% and 2.8%.

Major European indices trade on a mostly higher note while Italy's MIB (-0.1%) underperforms modestly. Italy's acting Prime Minister Paolo Gentiloni resigned after the weekend election of parliamentary speakers. Forza Italia's Maria Elisabetta Alberti Casellati became the Senate president while Robert Fico of Movimento Cinque Stelle was elected president of the lower chamber. The weekend started with reports of a disagreement between Forza Italia and Lega, regarding the willingness to work with Movimento Cinque Stelle, but the two parties appear to be united once again. Former Catalan leader Carles Puigdemont was arrested in Germany on sedition charges. Standard & Poor's raised Spain's credit rating to A- from BBB+, maintaining a Positive outlook.

In economic data:
UK's Gross Mortgage Approvals 38,100 (expected 39,200; last 40,100)
France's Q4 GDP +0.7% quarter-over-quarter (expected 0.6%; last 0.6%); +2.5% year-over-year, as expected (last 2.5%)
Italy's non-EU trade surplus EUR1.99 billion (last deficit of EUR520 million)

---Equity Markets---

Germany's DAX is higher by 0.5% amid broad strength. BMW, Volkswagen, Daimler, Merck, Lufthansa, BASF, Bayer, and SAP show gains between 0.4% and 2.0%. On the downside, Adidas is lower by 0.2% while Deutsche Bank is down 0.4%, continuing its recent underperformance.
UK's FTSE trades higher by 0.4% with consumer names showing relative strength. Barratt Developments, Dixons Carphone, Tesco, Marks & Spencer, ITV, Persimmon, and Burberry hold gains between 0.6% and 1.9% while financials like RBS, Barclays, Old Mutual, and HSBC have added between 0.9% and 2.6%.
France's CAC has climbed 0.4%. Peugeot and Renault are both up near 1.3% while Schneider Electric, Louis Vuitton, Accor, Total, STMicroelectronics, Societe Generale, Credit Agricole, and BNP Paribas are up between 0.2% and 1.2%. Pernod Ricard is the weakest performer, falling 0.6%.
Italy's MIB hovers just below its flat line with financials like UBI Banca, Banco Bpm, Banca Generali, FinecoBanca, UniCredit, and Intesa Sanpaolo down between 0.2% and 1.8%.

08:34AM ET
[BRIEFING.COM] S&P futures vs fair value: +43.30. Nasdaq futures vs fair value: +140.00.

The S&P 500 futures are trading 43 points, or 1.7%, above fair value.

With just a few days left in the month, the March sector standings are as follows: the energy (+0.5%), utilities (+0.4%), and real estate (+0.1%) sectors hold modest gains, while the financials (-6.9%), consumer discretionary (-3.5%), industrials (-4.7%), materials (-5.9%), technology (-5.6%), health care (-5.1%), consumer staples (-4.7%), and telecom services (-4.1%) groups all hold heavy losses.

The S&P 500 is down 4.6% month to date, while the Nasdaq and the Dow hold losses of 3.9% and 6.0%, respectively.

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: +39.30. Nasdaq futures vs fair value: +129.80.

The U.S. equity market is on course to reclaim a nice chunk of last week's heavy losses this morning following a Wall Street Journal report that the U.S. and China have quietly started negotiating to improve American access to Chinese markets. The S&P 500 futures are trading 39 points, or 1.5%, above fair value.

In addition to the WSJ article, the S&P 500's 200-day simple moving average (2585) is also providing the market with some support; the S&P 500 finished a tick above the key technical level on Friday after losing a total of 6.0% throughout the week.

Overseas, equity indices in the Asia-Pacific region began the week on a mixed note, while the major bourses in Europe currently sport modest gains. The U.S. dollar is down 0.5% against the euro (1.2414) and 0.7% against the British pound (1.4230), but is up 0.3% against the Japanese yen (105.10).

In the bond market, U.S. Treasuries are under pressure this morning, pushing yields higher across the curve; the yield on the benchmark 10-yr Treasury note is up one basis point at 2.84%, while the yield on the 2-yr note is higher by three basis points at 2.29%.

Market participants won't receive any economic data today.

In U.S. corporate news:

Finish Line (FINL 13.58, +3.03): +28.7% after agreeing to be acquired by UK-based JD Sports Fashion for $13.50 per share.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mixed note. Japan's Nikkei +0.7%, Hong Kong's Hang Seng +0.8%, China's Shanghai Composite -0.6%, India's Sensex +1.4%.
In economic data:
New Zealand's February trade surplus NZD217 million (expected deficit NZD100; last deficit NZD655 million). February Imports NZD4.24 billion (expected NZD4.63 billion; last NZD4.94 billion) and February Exports NZD4.46 billion (expected NZD4.56 billion; last NZD4.29 billion)
Singapore's February Industrial Production -0.5% month-over-month (expected -8.4%; last 4.7%); +8.9% year-over-year (consensus 5.1%; last 16.9%)
In news:
China launched a yuan-denominated crude oil contract to rival current dollar-denominated benchmarks like Brent and WTI.
China's Ambassador to the United States Cui Tiankai said his country is analyzing all options in response to U.S. tariffs, including a potential reduction of U.S. Treasury purchases. Separate reports indicate U.S. and Chinese trade officials are working on an agreement to avert a trade war.
The South Korean press reported that South Korea's Trade Ministry and U.S. counterparts have agreed in principle to renegotiate the current trade agreement.

Major European indices trade on a mostly higher note while Italy's MIB (-0.1%) underperforms modestly. Germany's DAX +0.7%, UK's FTSE +0.5%, France's CAC +0.4%.
In economic data:
UK's Gross Mortgage Approvals 38,100 (expected 39,200; last 40,100)
France's Q4 GDP +0.7% quarter-over-quarter (expected 0.6%; last 0.6%); +2.5% year-over-year, as expected (last 2.5%)
Italy's non-EU trade surplus EUR1.99 billion (last deficit of EUR520 million)
In news:
Italy's acting Prime Minister Paolo Gentiloni resigned after the weekend election of parliamentary speakers. Forza Italia's Maria Elisabetta Alberti Casellati became the Senate president while Robert Fico of Movimento Cinque Stelle was elected president of the lower chamber. The weekend started with reports of a disagreement between Forza Italia and Lega, regarding the willingness to work with Movimento Cinque Stelle, but the two parties appear to be united once again.
Former Catalan leader Carles Puigdemont was arrested in Germany on sedition charges. Standard & Poor's raised Spain's credit rating to A- from BBB+, maintaining a Positive outlook.


06:55AM ET
[BRIEFING.COM] S&P futures vs fair value: +40.80. Nasdaq futures vs fair value: +128.00.

06:55AM ET
[BRIEFING.COM] Nikkei...20766...+148.20...+0.70%. Hang Seng...30549...+239.50...+0.80%.

06:55AM ET
[BRIEFING.COM] FTSE...6939.41...+17.50...+0.30%. DAX...11945.72...+59.40...+0.50%.

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.

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

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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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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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