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 28th Weds Price Action Trade Result Profit $10312.50
PostPosted: Wed Mar 28, 2018 5:50 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Price Action Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm & http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Users Reviews, Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Review of TheStrategyLab: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167 & http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Telephone: +1 708 572-4885
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)

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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 @ $10,312.50 dollars or +206.25 points, Light Crude Oil CL ($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 @ $10,312.50 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=2785

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: -9.29… | Nasdaq: -59.58… | S&P: -7.62…
NASDAQ Vol: 2.51 bln… Adv: 1305… Dec: 1615…
NYSE Vol: 929.1 mln… Adv: 1530… Dec: 1396…

Moving the Market

Caution following an up-and-down start to the week

Amazon (AMZN) drops to six-week low following report that President Trump would like to change the company's tax treatment

S&P 500 eyes its 200-day simple moving average (2587)

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

04:30PM ET

[BRIEFING.COM] Equities were up and down on Wednesday, eventually settling below Tuesday's closing levels, as influential FAANG names like Amazon (AMZN 1431.42, -65.63) and Netflix (NFLX 285.77, -14.92) dropped sharply for the second day in a row. The tech-heavy Nasdaq declined 0.9%, while the S&P 500 shed 0.3%. The Dow finished flat.

The market has struggled to find sturdy ground since a volatile drop in early February. This week's action has fully embodied that struggle; equities shot higher on Monday, pushing the S&P 500 up 2.7%, only to give back the bulk of those gains in a broad sell off on Tuesday. With the S&P 500's 50-day simple moving average (2733) out of reach, investors have been keeping an eye on the index's 200-day simple moving average (2588), which has provided support on a couple of occasions in recent weeks. The S&P 500 finished Wednesday at 2605.

Wednesday's sector standings were pretty evenly divided between advancers and decliners. Defensive groups like health care (+0.5%), consumer staples (+1.4%), and telecom services (+1.6%) were the top performers, while growth-oriented groups like consumer discretionary (-1.2%), energy (-2.0%), materials (-1.3%), and technology (-0.9%) finished at the back of the pack. The financial sector, which is the second-most influential group (behind technology), finished with a gain of 0.2%.

Amazon was a big reason that the consumer discretionary sector underperformed, as AMZN shares dropped 4.4% to a six-week low. The selling followed an Axios report that President Trump would like to change Amazon's tax treatment, alleging that it has gotten a free ride from taxpayers. The White House responded to the report, saying there aren't any policy changes regarding Amazon at the moment, but the administration is always looking at different options.

Meanwhile, energy shares declined in tandem with the price of crude oil after the Department of Energy reported that U.S. crude stockpiles increased by 1.6 million barrels last week. West Texas Intermediate crude futures dropped 0.9% to $64.61 per barrel, further distancing themselves from Friday's eight-week high.

In the technology sector, Apple (AAPL 166.48, -1.86) declined 1.1%, extending its monthly loss to 6.5%, and chipmakers pushed the PHLX Semiconductor Index lower by 2.1%. Dow component Intel (INTC 49.60, -1.59) was among the weakest semiconductor names, dropping 3.1%, while NVIDIA (NVDA 221.35, -4.17) lost 1.9%. Facebook (FB 153.03, +0.81) outperformed, however, advancing 0.5% after announcing an initiative to "put people more in control of their privacy" -- a direct response to the Cambridge Analytica data scandal.

Elsewhere, the Treasury market had a mixed outing on Wednesday. The benchmark 10-yr note extended Tuesday's gains at the start of the session, but began ticking lower following a poor $29 billion 7-yr note auction, which drew a high yield of 2.72% on a bid-to-cover of 2.34. The 10-yr note still finished in the green though, with its yield declining one basis point to 2.78%. Meanwhile, the yield on the 2-yr note advanced two basis points to 2.29%, reducing the 2s10s spread to 49 basis points -- its lowest level since 2007.

The U.S. Dollar Index advanced 0.9% to 89.76, with the greenback adding 0.8% against the euro (1.2308) and 1.5% against the yen (106.88).

Reviewing Wednesday's economic data, which included the third estimate for fourth quarter GDP, Pending Home Sales for February, the Advance International Trade in Goods report for February, and the weekly MBA Mortgage Applications Index:

The third estimate of fourth quarter GDP pointed to an expansion of 2.9%, while the Briefing.com consensus expected a reading of 2.6%. The second estimate came in at 2.5%.
The key takeaway from the report is that it does not change the general picture of economic growth at the end of 2017.
Pending Home Sales increased 3.1% in February (Briefing.com consensus +2.5%). Today's reading follows a revised 5.0% decrease in January (from -4.7%).
The Advance report for International Trade in Goods for February showed a deficit of $75.4 billion (Briefing.com consensus -$74.2 billion), up from a revised deficit of $75.3 billion in January (from -$74.4 billion).
The weekly MBA Mortgage Applications Index increased 4.8% to follow last week's decline of 1.1%.

On Thursday morning, investors will receive February Personal Income (Briefing.com consensus +0.4%), Personal Spending (Briefing.com consensus +0.2%), PCE Prices (Briefing.com consensus +0.2%), and core PCE Prices (Briefing.com consensus +0.2%), the weekly Initial Claims report (Briefing.com consensus 230K), the Chicago PMI (Briefing.com consensus 62.0), and the final reading of the University of Michigan Consumer Sentiment Index for March (Briefing.com consensus 102.0).

Nasdaq Composite: +0.7% YTD
S&P 500: -2.6% YTD
Dow Jones Industrial Average: -3.5% YTD
Russell 2000: -1.5% YTD

Dow: -9.29… | Nasdaq: -59.58… | S&P: -7.62…
NASDAQ Adv/Dec 1305/1615. …NYSE Adv/Dec 1530/1396.

03:40PM ET
[BRIEFING.COM]

Commodities ending the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are -0.5% at 86.7627
The dollar index is +0.9% at 89.78
Energy:
Mar WTI crude oil futures settled -$0.58 at $64.61/barrel on the day
In other energy, Mar natural gas settled -$0.02 (-0.7%) at $2.69/MMBtu
Metals:
Apr gold settled -$18.10 (-1.3%) at $133.40/oz, while Mar silver settled -$0.29 (-1.8%) to $16.25/oz
Mar copper settled unch at $3.00/lb

Dow: +32.75… | Nasdaq: -39.24… | S&P: -0.51…
NASDAQ Adv/Dec 1313/1622. …NYSE Adv/Dec 1497/1419.

03:00PM ET

[BRIEFING.COM] The major averages are mixed moving into the final hour of today's session. The S&P 500 and the Dow are up 0.1% and 0.2%, respectively, while the Nasdaq is lower by 0.5%.

Five sectors are lower -- including consumer discretionary (-0.9%), industrials (-0.3%), energy (-1.6%), materials (-1.1%), and technology (-0.4%) -- while six sectors are higher -- including financials (+0.4%), health care (+0.9%), consumer staples (+1.6%), utilities (+0.1%), telecom services (+1.9%), and real estate (+1.9%).

Elsewhere, U.S. Treasuries are mixed, with the benchmark 10-yr yield down one basis point at 2.78% and the 2-yr yield up two basis points at 2.29%.
Dow: +22.77… | Nasdaq: -50.12… | S&P: -3.62…
NASDAQ Adv/Dec 829/1030. …NYSE Adv/Dec 1595/1327.

02:30PM ET

[BRIEFING.COM] The Nasdaq Composite, which at one point was down 1.5% today, has trimmed its losses to 0.4% despite being weighed down by Amazon (AMZN 1431.83. -65.22, -4.4%), Cisco Systems (CSCO 41.99, -0.69, -1.6%), and Tesla (TSLA 253.85, -25.33, -9.1%).

Tomorrow will feature a few pieces of economic data which should factor into the Federal Reserve's policy considerations. The Personal Income and Spending Report for February should arrive at 8:30 a.m. ET tomorrow.

Namely, the report breaks down the composition of personal income (Briefing.com consensus of 0.4%; January was 0.4%), which is the fuel for consumer spending. The data for February should prove noteworthy since it will directly impact Q1 GDP forecasts. The report will also include the PCE Price Index, which is the Federal Reserve's ("Fed") primary gauge for assessing inflation trends.
Dow: +36.62… | Nasdaq: -42.95… | S&P: -1.52…
NASDAQ Adv/Dec 938/1011. …NYSE Adv/Dec 1631/1277.

01:55PM ET

[BRIEFING.COM] After touching intraday highs earlier in the afternoon, the major averages have cooled and now sit near yesterday's closing levels.

Today's action among S&P sectors is pretty evenly split as the energy (-1.3%) and consumer discretionary (-1.0%) sectors sit near the bottom with the smaller-weighted telecom services (+1.8%) and real estate (+1.9%) sectors leading those in the green.

The energy space has been weaker in tandem with today's fall in oil prices; West Texas Intermediate crude oil futures for May delivery currently sit 1.4% lower to about $64.33/barrel. The black commodity has been weaker these past few sessions partly due to strength in the US dollar; the US Dollar Index is now +0.8% to 89.68.

In metals, gold futures for April delivery suffered their worst losses since February 20 by shedding $18.10 to settle at $1330.40/oz, or -1.3%.
Dow: +67.70… | Nasdaq: -14.42… | S&P: +0.91…
NASDAQ Adv/Dec 1034/996. …NYSE Adv/Dec 1692/1211.

01:35PM ET

[BRIEFING.COM] The major U.S. indices remain volatile and are currently trading mixed as energy and consumer discretionary lag.

A look inside the Dow Jones Industrial Average shows that General Electric (GE 13.85, +0.41), Merck & Co (MRK 54.87, +1.12), & Wal-Mart (WMT 87.85, +1.80) are outperforming. GE is again leading the Dow amid ongoing, but unsubstantiated speculation that Warren Buffett could look at the name. Meanwhile, Wal-Mart is advancing as the company is seen as a likely beneficiary from a potential showdown between President Trump & Amazon (AMZN 1424.00, -73.05) amid Axios reports that Trump 'wants to go after' Amazon.

Conversely, Intel (INTC 49.79, -1.40) is the worst-performing Dow component as autonomous driving names remain under pressure. Additionally weighing on shares, analysts at DZ Bank downgraded Intel's shares from Buy to Hold.

For the week, the DJIA is +1.5%.

Elsewhere, at the top of the hour, the Treasury's $29 bln 7-year auction drew a high yield of 2.72% on a bid-to-cover of 2.34.
Dow: +53.49… | Nasdaq: -36.29… | S&P: +0.25…
NASDAQ Adv/Dec 1044/1050. …NYSE Adv/Dec 1645/1245.

01:00PM ET

[BRIEFING.COM] It's been a choppy day of trading thus far, as the bulls and the bears battle for control of Wall Street following an up-and-down start to the week.

The S&P 500 has been up as much as 0.8%, down as much as 0.8%, and currently sports a gain of 0.3%. Investors have kept an eye on the index's 200-day simple moving average (2588), but the S&P has yet to challenge that level today, getting as close as 2593. The Nasdaq (-0.3%) has underperformed throughout the session, as influential Nasdaq component Amazon (AMZN 1433.48, -63.57) has dropped 4.1% to a fresh six-week low in reaction to an Axios report that President Trump would like to change the company's tax treatment.

Netflix (NFLX 287.48, -13.21) has also weighed on the tech-heavy Nasdaq, losing 4.3%, but other FAANG names, including Apple (AAPL 168.74, +0.35), Facebook (FB 154.21, +2.00), and Alphabet (GOOG 1016.67, +11.57), are sporting gains between 0.2% and 1.2%. The S&P's top-weighted technology sector is up 0.1%.

The heavily-weighted financial sector (+0.5%) is also higher this afternoon, but the strongest sectors are mostly countercyclical; the health care sector is up 1.0%, while the consumer staples, telecom services, and real estate spaces hold gains between 1.7% and 2.4%.

In earnings news, Lululemon Athletica (LULU 87.71, +9.00) has spiked 11.5% today, hitting a new record high, after the athleisure brand reported better-than-expected earnings and revenues for the fourth quarter and issued positive guidance. Meanwhile, Walgreens Boot Alliance (WBA 67.26, +1.30) is up 2.0% after the company beat quarterly earnings and revenue estimates and raised its profit guidance for FY18.

Outside of equities, U.S. Treasuries have extended Tuesday's rally, pushing the benchmark 10-yr yield three basis points lower to 2.76% -- its lowest level since early February. West Texas Intermediate crude futures are down 1.7% at $64.11 per barrel, extending their early-morning losses after the Department of Energy reported a build of 1.6 million barrels for the week ended March 23. Estimates were calling for a draw of around 0.3 million barrels.

Reviewing Wednesday's economic data, which included the third estimate for fourth quarter GDP, Pending Home Sales for February, the Advance International Trade in Goods report for February, and the weekly MBA Mortgage Applications Index:

The third estimate of fourth quarter GDP pointed to an expansion of 2.9%, while the Briefing.com consensus expected a reading of 2.6%. The second estimate came in at 2.5%.
The key takeaway from the report is that it does not change the general picture of economic growth at the end of 2017.
Pending Home Sales increased 3.1% in February (Briefing.com consensus +2.5%). Today's reading follows a revised 5.0% decrease in January (from -4.7%).
The Advance report for International Trade in Goods for February showed a deficit of $75.4 billion (Briefing.com consensus -$74.2 billion), up from a revised deficit of $75.3 billion in January (from -$74.4 billion).
The weekly MBA Mortgage Applications Index increased 4.8% to follow last week's decline of 1.1%.

Dow: +48.07… | Nasdaq: -39.94… | S&P: +0.12…
NASDAQ Adv/Dec 986/1212. …NYSE Adv/Dec 1594/1296.

12:25PM ET

[BRIEFING.COM] Stocks have shot to new session highs in recent action, with the top-weighted technology (+0.6%), financials (+1.0%), and health care (+1.4%) sectors -- which represent around half of the broader market combined -- trading at their best marks of the day. The S&P 500 is up 0.6%.

Most FAANG names are up this afternoon, including Apple (AAPL 169.62, +1.28, +0.8%), Alphabet (GOOG 1020.34, +16.61 +1.7%), and Facebook (FB 154.87, +2.63, +1.8%), but Amazon (AMZN 1447.00, -50.81, -3.2%) and Netflix (NFLX 2910.79, -9.90, -3.3%) still hold sizable declines.

In Europe, France's CAC and the UK's FTSE finished Wednesday with gains of 0.3% and 0.6%, respectively, while Germany's DAX lost 0.3%.
Dow: +181.57… | Nasdaq: +10.94… | S&P: +13.96…
NASDAQ Adv/Dec 1239/1030. …NYSE Adv/Dec 1733/1131.

12:00PM ET

[BRIEFING.COM] Stocks have ticked higher in recent action, pushing the S&P 500 back into positive territory (+0.1%).

Shares of Lululemon Athletica (LULU 86.73, +8.02) have spiked 10.2% today, hitting a new record high, after the athleisure brand reported better-than-expected earnings and revenues for the fourth quarter and issued positive guidance. Meanwhile, Walgreens Boot Alliance (WBA 66.24, +0.28) shares are up 0.3% after the company beat quarterly earnings and revenue estimates and raised its profit guidance for FY18.

In currencies, the U.S. Dollar Index has jumped 0.5% to 89.42, as the greenback trades higher against the euro (1.2350, +0.4%), the British pound (1.4110, +0.3%), and the Japanese yen (106.28, +0.9%).
Dow: +58.83… | Nasdaq: -37.37… | S&P: +0.82…
NASDAQ Adv/Dec 1092/1303. …NYSE Adv/Dec 1525/1322.

11:30AM ET

[BRIEFING.COM] The S&P 500 continues to drift below its unchanged mark in choppy trade, showing a loss of 0.3%.

Amazon (AMZN 1392.51, -103.54) has dropped 6.9% today, hitting a six-week low, following an Axios report that President Donald Trump would like to change the company's tax treatment, alleging that it has gotten a free ride from taxpayers. However, the president doesn't currently have a plan to make that happen, according to sources.

The consumer discretionary sector, which houses Amazon, is trading at the bottom of today's sector standings with a loss of 1.6%.
Dow: +1.38… | Nasdaq: -70.38… | S&P: -6.74…
NASDAQ Adv/Dec 1007/1432. …NYSE Adv/Dec 1379/1450.

11:00AM ET

[BRIEFING.COM] Stocks have dropped to new lows in recent trading, putting the S&P 500 (-0.5%) within 10 points of its 200-day simple moving average.

Five sectors are trading in the green, mostly countercyclical -- health care (+0.3%), consumer staples (+1.1%), utilities (+0.2%), telecom services (+1.6%), and real estate (+1.7%) -- while six are trading in the red -- financials (-0.9%), consumer discretionary (-1.6%), industrials (-1.0%), energy (-0.9%), materials (-0.4%), and technology (-1.1%).

The weekly crude inventory report from the Department of Energy showed that U.S. stockpiles grew by 1.6 million barrels last week. WTI crude futures are currently down 1.0% at $64.58 per barrel, which is roughly where they were ahead of the release.
Dow: -43.96… | Nasdaq: -76.42… | S&P: -10.86…
NASDAQ Adv/Dec 989/1503. …NYSE Adv/Dec 1356/1441.

10:35AM ET
[BRIEFING.COM]

Commodities are beginning the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.5% at 86.8108
Dollar index is currently +0.6% at 89.46
Looking at energy...
Mar WTI crude oil futures are now -$0.44 at $64.81/barrel after moving higher following the weekly EIA data, but remains in the red
In other energy, Mar natural gas is -$0.015 at $2.70/MMBtu
Moving on to metals...
Apr gold is currently -$13.10 at $1328.90/oz, while Mar silver is -$0.27 at $16.27/oz
Mar copper is now -$0.01 at $2.994/lb

Dow: -32.83… | Nasdaq: -59.18… | S&P: -6.82…
NASDAQ Adv/Dec 1319/1359. …NYSE Adv/Dec 1576/1194.

10:00AM ET

[BRIEFING.COM] The major averages are mixed, drifting near their unchanged marks.

Just released, Pending Home Sales increased 3.1% in February (Briefing.com consensus +2.5%). Today's reading follows a revised 5.0% decrease in January (from -4.7%).
Dow: +90.81… | Nasdaq: -5.07… | S&P: +8.71…
NASDAQ Adv/Dec 1382/1254. …NYSE Adv/Dec 1634/1083.

09:45AM ET

[BRIEFING.COM] The major averages opened higher, but now trade in the red. The tech-heavy Nasdaq is down 0.9%, while the S&P 500 and the Dow hold respective losses of 0.3% and 0.1%.

Most S&P sectors are lower, with the top-weighted technology group (-1.0%) and the consumer discretionary sector (-1.3%) leading the retreat. Less-risky countercyclical sectors are in demand though, with the consumer staples and health care groups advancing 1.1% and 0.3%, respectively.

As a reminder, Pending Home Sales for February (Briefing.com consensus +2.5%) will be released at 10:00 AM ET.
Dow: -38.03… | Nasdaq: -75.38… | S&P: -9.48…
NASDAQ Adv/Dec 981/1618. …NYSE Adv/Dec 1262/1359.

09:12AM ET
[BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -42.30.

The stock market is now poised to open Wednesday's session modestly lower, as the S&P 500 futures are trading two points, or 0.1%, below fair value. The S&P 500's 200-day simple moving average (2587) could be in play today, as the benchmark index finished just 25 points above the key technical level on Tuesday.

In earnings news, shares of Walgreens Boot Alliance (WBA 67.50, +1.54) are up 2.3% in pre-market trading after the company beat quarterly earnings and revenue estimates and raised its profit guidance for FY18. Lululemon Athletica (LULU 84.10, +5.39) shares are also higher, up 6.8%, after the athleisure brand reported better-than-expected earnings and revenues for the fourth quarter and issued positive guidance. GameStop (GME 13.88, 0.00) is due to report following today's closing bell.

Elsewhere, the Treasury market has extended Tuesday's rally this morning, pushing the benchmark 10-yr yield lower by four basis points to 2.75% -- its lowest level since early February. Meanwhile, the U.S. Dollar Index is up 0.4% at 89.31, and West Texas Intermediate crude futures are down 0.8% at $64.71 per barrel after the American Petroleum Institute reported on Tuesday evening that U.S. crude inventories increased by 5.3 million barrels last week. The official government figures will be released at 10:30 AM ET.

On the data front, the third estimate of fourth quarter GDP pointed to an expansion of 2.9%, while the Briefing.com consensus expected a reading of 2.6%. The second estimate came in at 2.5%. Separately, the Advance report for International Trade in Goods for February showed a deficit of $75.4 billion (Briefing.com consensus -$74.2 billion).

Today's last piece of economic data, Pending Home Sales for February (Briefing.com consensus +2.5%), will cross the wires at 10:00 AM ET.

08:59AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: -20.50.

The S&P 500 futures are trading three points, or 0.1%, above fair value.

Equity indices in the Asia-Pacific region ended Wednesday on a mostly lower note, as the region followed yesterday's reversal on Wall Street. Chinese officials confirmed that North Korea's Supreme Leader Kim Jong-un paid a visit to Beijing, during which the North Korean leader committed to denuclearization of the Korean peninsula. On a separate note, the Trump administration is reportedly considering legal steps to limit Chinese takeovers in the technology sector. In Japan, there were continued calls for Prime Minister Shinzo Abe's resignation, but the prime minister said he has no plans to call an election.

In economic data:
South Korea's Q4 GDP -0.2% quarter-over-quarter, as expected (last -0.2%); +2.8% year-over-year (consensus 3.0%; last 3.0%)
New Zealand's March ANZ Business Confidence -20.0 (last -19.0)

---Equity Markets---

Japan's Nikkei settled at its best level of the day, but still lost 1.3%. SUMCO, Furukawa, Dainippon Screen Manufacturing, Tokyo Electron, Mitsubishi, DOWA Holdings, Nissan Motor, and Subaru posted losses between 2.4% and 5.4%.
Hong Kong's Hang Seng fell 2.5%. Apple suppliers Sunny Optical Tech and AAC Technologies lost 8.1% and 6.3%, respectively. Geely Automobile slid 5.8% while financials like Ping An Insurance, Bank of East Asia, and HSBC lost between 1.5% and 3.9%.
China's Shanghai Composite dropped 1.4%. Lucky Film, Shanghai Join Buy, Wenyi Trinity Technology, Shanghai Kai Kai Industrial, and Harbin High-Tech surrendered between 6.4% and 8.7%.
India's Sensex ended lower by 0.6%. Tata Steel, Bharti Airtel, Adani Ports, Sun Pharma, Bajaj Auto, ICICI Bank, Infosys, SBI, and ITC lost between 1.0% and 3.3%. On the upside, IndusInd Bank, Yes Bank, and Wipro outperformed, gaining between 0.4% and 3.3%.

Major European indices trade mostly lower with the UK's FTSE (+0.1%) showing relative strength. The European Commission is reportedly considering a claim on EUR56 billion in ECB profits to plug a post-Brexit budget hole. Meanwhile, the British government is reportedly nearing an agreement regarding the post-Brexit future of the Irish border.

In economic data:
UK's March CBI Distributive Trades Survey -8 (expected 7; last 8)
Germany's April GfK Consumer Climate 10.9 (expected 10.7; last 10.8)
France's March Consumer Confidence 100, as expected (last 100)
Italy's January Industrial New Orders -4.5% month-over-month (last 4.6%); +9.6% year-over-year (last 4.1%) and Industrial Sales -2.8% month-over-month (last 2.5%); +5.3% year-over-year (last 7.4%)
Spain's February Retail Sales +1.9% year-over-year (last 2.2%). January current account deficit EUR450 million (last surplus of EUR2.64 billion)
Swiss March ZEW Expectations 16.7 (last 25.8)

---Equity Markets---

UK's FTSE is higher by 0.1% with miners and select consumer names showing relative weakness. Antofagasta, Anglo American, Glencore, BHP Billiton, Rio Tinto, Merlin Entertainments, Tesco, InterContinental Hotels, GKN, and Paddy Power are down between 0.3% and 3.7%. On the upside, Shire has surged 15.6% after Takeda Pharmaceutical confirmed interest in the drugmaker.
Germany's DAX has given up 0.4% amid broad weakness. Infineon is down 3.2% while Lufthansa, Commerzbank, BASF, BMW, Volkswagen, and Daimler show losses between 0.6% and 1.9%. Deutsche Bank trades lower by 0.7%.
France's CAC is down 0.4% after touching a fresh 2018 low. STMicroelectronics and Cap Gemini hold respective losses of 4.3% and 2.2% while TechnipFMC, Airbus, Societe Generale, Renault, Credit Agricole, and Peugeot are down between 0.7% and 1.9%.

08:31AM ET
[BRIEFING.COM] S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +5.00.

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

Just in, the third estimate of fourth quarter GDP pointed to an expansion of 2.9%, while the Briefing.com consensus expected a reading of 2.6%. The second estimate came in at 2.5%.

Separately, the Advance report for International Trade in Goods for February showed a deficit of $75.4 billion (Briefing.com consensus -$74.2 billion).

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +13.80.

U.S. equities gave back the bulk of Monday's gains on Tuesday, with FAANG shares leading the retreat, pushing the S&P 500's technology sector lower by 3.5%. Futures are pointing towards a modestly higher open this morning, but, as yesterday's session proved, things can look very different by the closing bell; the S&P 500 futures are trading five points, or 0.2%, above fair value. The S&P 500's 200-day simple moving average (2587) could be in play today, as the benchmark index finished just about 25 points above the key technical level on Tuesday.

Overseas, the major stock indices in the Asia-Pacific region slid on Wednesday, losing between 0.6% and 2.5%. Chinese officials confirmed that North Korea's Supreme Leader Kim Jong-un paid a visit to Beijing, during which the North Korean leader reportedly committed to denuclearization of the Korean peninsula. Mr. Kim is expected to meet with President Donald Trump by the end of May to discuss North Korea's nuclear program.

In Europe, Germany's DAX and France's CAC are down 0.5% and 0.7%, respectively, but the UK's FTSE has managed to keep near its unchanged mark.

Outside of equities, U.S. Treasuries have extended Tuesday's rally this morning, pushing the benchmark 10-yr yield another three basis points lower to 2.76%, which is its lowest level since early February. Meanwhile, the U.S. Dollar Index is up 0.2% at 89.11, and West Texas Intermediate crude futures are down 0.6% at $64.89 per barrel after the American Petroleum Institute reported on Tuesday evening that U.S. crude inventories increased by 5.3 million barrels last week. The official government figures will be released at 10:30 AM ET.

Investors will receive a handful of economic data this morning, but it isn't expected to have much of an impact on trading. The Advance International Trade in Goods report for February (Briefing.com consensus -$74.2 billion) and the third estimate for fourth quarter GDP (Briefing.com consensus +2.6%) will both be released at 8:30 AM ET, while Pending Home Sales for February (Briefing.com consensus +2.5%) will cross the wires at 10:00 AM ET. The weekly MBA Mortgage Applications Index was released earlier this morning, showing an increase of 4.8%.

In U.S. corporate news:

Facebook (FB 155.01, +2.79): +1.8% after detailing an initiative to "put people more in control of their privacy."
Walgreens Boot Alliance (WBA 67.75, +1.79): +2.7% after beating quarterly earnings and revenue estimates and raising its profit guidance for FY18.
lululemon athletica (LULU 84.05, +5.34): +6.8% after reporting better-than-expected earnings and revenues for the fourth quarter and issuing positive guidance.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a mostly lower note, as the region followed yesterday's reversal on Wall Street. Japan's Nikkei -1.3%, Hong Kong's Hang Seng -2.5%, China's Shanghai Composite -1.4%, India's Sensex -0.6%.
In economic data:
South Korea's Q4 GDP -0.2% quarter-over-quarter, as expected (last -0.2%); +2.8% year-over-year (consensus 3.0%; last 3.0%)
New Zealand's March ANZ Business Confidence -20.0 (last -19.0)
In news:
Chinese officials confirmed that North Korea's Supreme Leader Kim Jong-un paid a visit to Beijing, during which the North Korean leader committed to denuclearization of the Korean peninsula.
The Trump administration is reportedly considering legal steps to limit Chinese takeovers in the technology sector.
In Japan, there were continued calls for Prime Minister Shinzo Abe's resignation, but the prime minister said he has no plans to call an election.

Major European indices trade in negative territory. Germany's DAX -0.5%, France's CAC -0.7%, UK's FTSE -0.1%.
In economic data:
UK's March CBI Distributive Trades Survey -8 (expected 7; last 8)
Germany's April GfK Consumer Climate 10.9 (expected 10.7; last 10.8)
France's March Consumer Confidence 100, as expected (last 100)
Italy's January Industrial New Orders -4.5% month-over-month (last 4.6%); +9.6% year-over-year (last 4.1%) and Industrial Sales -2.8% month-over-month (last 2.5%); +5.3% year-over-year (last 7.4%)
Spain's February Retail Sales +1.9% year-over-year (last 2.2%). January current account deficit EUR450 million (last surplus of EUR2.64 billion)
Swiss March ZEW Expectations 16.7 (last 25.8)
In news:
The European Commission is reportedly considering a claim on EUR56 billion in ECB profits to plug a post-Brexit budget hole.
The British government is reportedly nearing an agreement regarding the post-Brexit future of the Irish border.


06:55AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: -0.80.

06:55AM ET
[BRIEFING.COM] Nikkei...21031...-286.00...-1.30%. Hang Seng...30022.53...-768.30...-2.50%.

06:55AM ET
[BRIEFING.COM] FTSE...6980.71...-19.40...-0.30%. DAX...11854.25...-116.60...-1.00%.

04:30PM ET

[BRIEFING.COM] Equities tried to extend Monday's rebound at the start of Tuesday's session, but ended up giving back the bulk of Monday's gains instead. Technology shares led the retreat, pushing the tech-heavy Nasdaq lower by 2.9%. The S&P 500 and the Dow finished with losses of 1.7% and 1.4%, respectively.

FAANG names -- Facebook (FB 152.19, -7.87), Amazon (AMZN 1497.05, -58.81), Apple (AAPL 168.34, -4.43), Netflix (NFLX 300.69, -19.66), and Alphabet (GOOG 1005.10, -48.11) -- dropped between 2.6% and 6.1% on Tuesday, while market darling NVIDIA (NVDA 225.52, -18.96) tumbled 7.8% after announcing that it has temporarily suspended autonomous driving tests in order to learn more about last week's fatal Uber crash. Tesla (TSLA 279.18, -25.00), which is a leader in autonomous driving technology, dropped 8.2%, and Twitter (TWTR 28.07, -3.84) tumbled 12.0% in reaction to some cautious commentary from Citron Research.

Unsurprisingly, the S&P 500's top-weighted technology sector, which houses most of the aforementioned names, finished at the bottom of Tuesday's sector standings with a loss of 3.5%. The second-most influential sector, financials, also underperformed, losing 2.0%, and the consumer discretionary sector, which houses Amazon, lost 1.9%.

In total, seven of eleven S&P groups finished Tuesday in negative territory. Less-risky countercyclical sectors like consumer staples (+0.1%), utilities (+1.5%), and telecom services (+0.5%) were the top performers. Real estate (+0.1%) also had a relatively strong session, benefitting from a decline in Treasury yields; investors increased their purchases of U.S. Treasuries amid the equity sell off, pushing the benchmark 10-yr yield six basis points lower to 2.79% -- a seven-week low.

The S&P 500 finished a step above its session low, closing about 25 points above its 200-day simple moving average (2587). The index was up 0.6% at its best mark of the day and down 2.4% at its worst.

Reviewing Tuesday's economic data, which was limited to the Conference Board's Consumer Confidence Index for March and the S&P Case-Shiller Home Price Index for January:

The consumer confidence reading for March decreased to 127.7 (Briefing.com consensus 129.5) from the prior month's revised reading of 130.0 (from 130.8)
The key takeaway from the report is that, outside of a slight moderation in business expectations, consumers have not reported major changes to their outlook.
The S&P Case-Shiller Home Price Index for January increased 6.4%, which is slightly more than the Briefing.com consensus of +6.3%.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00 AM ET, both the Advance International Trade in Goods report for February (Briefing.com consensus -$74.2 billion) and the third estimate for fourth quarter GDP (Briefing.com consensus 2.6%) at 8:30 AM ET, and Pending Home Sales for February (Briefing.com consensus +2.5%) at 10:00 AM ET.

Nasdaq Composite: +1.5% YTD
S&P 500: -2.3% YTD
Dow Jones Industrial Average: -3.5% YTD
Russell 2000: -1.4% YTD

Dow: -344.89… | Nasdaq: -211.73… | S&P: -45.93…
NASDAQ Adv/Dec 675/2274. …NYSE Adv/Dec 933/2009.

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 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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