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 Post subject: April 6th Friday Price Action Trade Result - No Trades
PostPosted: Fri Apr 06, 2018 4:37 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
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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
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Quote:
No trades today for me because its a schedule rest day for me. As a reminder, you can join the chat room and watch it all trades and price action analysis 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. Simply, the free chat room is not a signal calling trade room. If chat rooms are not your taste...you should then start a private trade journal that contains your broker statements or quantitative statistical analysis because trade journals are the best way for self improvement in your trade performance @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=117

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=179&t=2793

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=350&t=3706 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 04:20PM ET
Dow: -572.46… | Nasdaq: -161.44… | S&P: -58.37…
NASDAQ Vol: 2.33 bln… Adv: 639… Dec: 2290…
NYSE Vol: 879 mln… Adv: 621… Dec: 2307…

Moving the Market

President Trump calls on trade officials to consider imposing additional tariffs on $100 billion worth of imports from China

March Employment Situation report misses headline expectations (actual 103,000; Briefing.com consensus 175,000), but average hourly earnings (actual 0.3%; Briefing.com consensus 0.2%) surpass estimates

President Trump says stock market may have to have a little pain as he works to protect U.S. trade interests

Fed Chair Powell says he expects inflation to pick up this Spring; sees further gradual rate hikes

Treasury Secretary Mnuchin acknowledges there could be a trade war with China

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

04:20PM ET

[BRIEFING.COM] The stock market closed the week on a decidedly lower note, falling victim to fears about potential trade wars, the Federal Reserve's tightening bias, and the specter of earnings growth not living up to this year's high expectations. The Dow, Nasdaq, S&P 500, and Russell 2000 declined between 1.9% and 2.3% in Friday's trade.

Things got off to a bad start following the news that President Trump ordered the Office of the U.S. Trade Representative to consider whether it would be appropriate to impose an additional $100 billion of tariffs on Chinese imports on top of the proposed $50 billion of tariffs announced on Wednesday.

China quickly responded, saying it would do what is necessary to protect its interests at any cost if the U.S. ultimately pressed ahead with such a tariff plan.

What rattled the stock market, though, was the feistier-sounding nature of administration officials today discussing the new proposal, as well as their seeming lack of concern about the difficulties the stock market has been having on account of the heated trade rhetoric between the U.S. and China.

President Trump noted that the stock market might have to have a little pain as he works to protect the trade interests of the U.S.; meanwhile, Treasury Secretary Mnuchin said in a CNBC interview that he is not focused on short-term market swings and that there is potential of a trade war with China even though that is not the objective.

The major indices rolled over after Mr. Mnuchin's comments and then cascaded even lower after Fed Chair Powell said he thinks inflation will pick up this Spring and that he sees further gradual rate hikes.

In essence, the stock market didn't get the verbal support it has been accustomed to receiving from leading officials in periods of uncertainty. Ironically, that fed a heightened sense of uncertainty about the outlook for the economy and earnings that kept many buyers on the sidelines and Friday's sellers focusing their efforts on the economically-sensitive sectors.

Every sector ended with a loss. The industrials sector (-2.7%) suffered the largest decline, but it had ample company.

The information technology (-2.5%), financial (-2.4%), materials (-2.4%), and health care (-2.4%) sectors all underperformed while losses in the consumer discretionary (-2.1%) and energy (-1.8%) sectors also weighed heavily.

The Dow Jones Industrial Average fell as many as 767 points on Friday before paring its losses in late action. That recovery effort coincided with a bounce in the S&P 500 after it breached its 200-day moving average (2594). Once again, though, the violation of that key technical level brought out the buyers who succeeded in pushing the S&P 500 back above the 200-day moving average by the closing bell.

The trade issues dominated the market narrative on Friday, but there was more to the story. The March employment report provided its own twist for the market.

It showed a surprisingly weak 103,000 gain in nonfarm payrolls and a sturdy 0.3% increase in average hourly earnings. All in all, it was a mixed report, yet it didn't alter the market's thinking about monetary policy other than making it think there was a diminished probability of a fourth rate hike in December.

The CME FedWatch Tool now pegs the probability of a fourth rate hike in December at 24.4% versus 32.7% on Thursday.

Reviewing Friday's economic data, which was limited to the Employment Situation Report for March and the Consumer Credit Report for February:

March nonfarm payrolls increased by 103,000 (Briefing.com consensus 175,000). March private sector payrolls increased by 102,000 (Briefing.com consensus 180,000). March unemployment rate was 4.1% (Briefing.com consensus 4.0%) versus 4.1% in February. March average hourly earnings were up 0.3% (Briefing.com consensus 0.2%), after increasing 0.1% in February. Over the last 12 months, average hourly earnings have risen 2.7%, versus 2.6% for the 12 months ending in February.
The key takeaway from the report is that it was neither too hot nor too cold to provide a clear basis for the Federal Reserve to re-think its outlook for monetary policy. At the same time, it will temper the market's concerns about the prospect of a fourth rate hike this year in December.
Total outstanding consumer credit increased by $10.6 billion in February (Briefing.com consensus $15.0 billion) after increasing an upwardly revised $15.6 billion (from $13.9 billion) in January.
The growth in February was driven almost entirely by nonrevolving credit, which was up $10.5 billion from January to $2836.6 billion.

There is no economic data of note on Monday.

Nasdaq Composite: +0.2% YTD
Russell 2000: -1.4% YTD
S&P 500: -2.6% YTD
Dow Jones Industrial Average: -3.8% YTD

Dow: -572.46… | Nasdaq: -161.44… | S&P: -58.37…
NASDAQ Adv/Dec 639/2290. …NYSE Adv/Dec 621/2307.

03:30PM ET
[BRIEFING.COM]

Commodities ending the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are -0.3% at 86.9381
The dollar index is -0.4% at 89.78
Energy:
May WTI crude oil futures settled -$1.49 at $62.06/barrel on the day
In other energy, May natural gas settled +$0.03 at $2.70/MMBtu
Metals:
June gold settled +$7.60 at $1335.90/oz, while May silver settled +$0.01 to $16.36/oz
May copper settled -$0.02 at $3.06/lb

Dow: -698.89… | Nasdaq: -178.35… | S&P: -68.19…
NASDAQ Adv/Dec 541/2383. …NYSE Adv/Dec 478/2442.

02:55PM ET

[BRIEFING.COM] The losses continue to mount for the major indices. The S&P 500, in fact, has fallen back below its 200-day moving average (2593) amid a dearth of buying interest.

If buyers bother to show up, this would likely be the time as the 200-day moving average has been a staunchly defended line in the sand.

Today's weakness is deep-seated and it has been driven in part by a lack of verbal support the market had hoped to hear from leading officials. Instead, it has heard the president say the stock market may have to have a little pain for now as he works to protect U.S. interests for the long term and Fed Chair Powell say that he thinks inflation will pick up this Spring and that he sees further gradual rate hikes.

Every sector is down at least 1.1%, with the exception of the utilities sector (-0.8%). The biggest loser today is the industrial sector, which is down 3.3%.
Dow: -717.90… | Nasdaq: -180.18… | S&P: -71.07…
NASDAQ Adv/Dec 527/1275. …NYSE Adv/Dec 468/2447.

02:30PM ET

[BRIEFING.COM] Stocks add to today's losses with all three major averages at intraday lows as investors have seemingly not forgotten the tariff dialogue which took place earlier in the week. The Dow Jones Industrial Average is the worst performer to this point, down 2.4%.

Within the heavily-weighted information technology (-2.1%) sector, trading at the top hasn't deviated much weakness displayed out of the broader market. In that sense, the largest stocks by market capitalization which call the S&P 500 IT sector home -- Apple (AAPL 169.36, -3.44, -2.0%), Microsoft (MSFT 90.25, -2.13, -2.3%), Facebook (FB 158.65, -0.69, -0.4%), Alphabet (GOOG 1,010.05, -17.75, -1.7%), and Intel (INTC 48.97, -1.40, -2.8%) -- all currently trade below yesterday's close.

While the market searches for a bright spot on Friday, gold futures settled higher by about 0.6% to $1335.90/oz. Investors have flocked to the precious metal today as interest in a volatile, chiefly lower, equity market has waned.
Dow: -567.27… | Nasdaq: -155.96… | S&P: -52.75…
NASDAQ Adv/Dec 596/1439. …NYSE Adv/Dec 515/2370.

01:55PM ET

[BRIEFING.COM] We once again find ourselves at new low on the day as the broader market is poised to finish a week, which admittedly saw some solidly green sessions in the equity markets, with decent losses. The major averages hold declines between 1.8% and 2.1% apiece at this juncture.

Treasury Secretary Steven Mnuchin appeared on CNBC earlier in the afternoon. Mr. Mnuchin's rhetoric on the recent volatility in the equity market rang with a less concerning tone than some may have expected. Among the topics discussed, Mr. Mnuchin quelled some of the concerns around what some are dubbing a possible trade war with China opting instead to soften the verbiage to a "potential" for a trade war.

Following Secretary Mnuchin, Federal Reserve Chairman Jerome Powell gave a speech on the economic outlook. Among Mr. Powell's points was the fact that if the economy continued at its current path, further gradual increases in the federal funds rate would best promote said goals. Mr. Powell asserted that raising rates too slowly would make it necessary for monetary policy to tighten abruptly down the road, which could jeopardize the economic expansion. His comments cautioned that raising rates too quickly would increase the risk that inflation would remain persistently below the FOMC's 2 percent objective.

Treasuries remain within their daily ranges following the remarks, as the yield on the benchmark 10-yr note is down about four basis points to about 2.78%, while the US Dollar Index holds onto its lower bias, currently down 0.3% at 90.20.
Dow: -429.64… | Nasdaq: -130.99… | S&P: -35.72…
NASDAQ Adv/Dec 668/1547. …NYSE Adv/Dec 611/2260.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to fluctuate in negative territory in the final day of the trading week, with stocks taking another leg lower since our last update.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 143.22, -4.91), Boeing (BA 327.63, -8.77), & Nike (NKE 68.11, -1.48) are underperforming amid the latest trade war fears after President Trump signaled he could look to tack on another layer of tariffs against China.

Conversely, Procter & Gamble (PG 78.68, -0.12) is the best-performing Dow component as consumer staples display relative strength in the face of today's broader market weakness.

At current levels, the DJIA is poised to close the week effectively flat, currently +0.05%.
Dow: -383.76… | Nasdaq: -80.55… | S&P: -32.85…
NASDAQ Adv/Dec 779/1560. …NYSE Adv/Dec 731/2112.

01:00PM ET

[BRIEFING.COM] It has been a struggle for the stock market today, which headed south at the open and has found it challenging to reorient itself permanently in a northerly direction.

The primary catalyst for the weakness has been the news that President Trump ordered the Office of the U.S. Trade Representative to consider whether it would be appropriate to impose an additional $100 billion of tariffs on Chinese imports on top of a $50 billion tariff proposal communicated just a few days ago.

This news, which was greeted in China by a declaration that it will respond as appropriate to protect its interests, created a sense for the market that trade matters are moving in a contentious direction. Moreover, they are fostering a heightened sense of uncertainty about the outlook that is prompting market participants to second guess the ability of companies to live up to this year's high earnings growth expectations.

Just about every sector is in negative territory at this juncture, although it is the more economically-sensitive sectors that are faring the worst. The industrials sector (-1.4%) is leading today's decliners along with the materials (-1.3%), financial (-1.3%), and energy (-1.1%) sectors. The information technology sector is down 0.8%.

The counter-cyclical health care sector (-1.3%) is another influential laggard. A big drop in the biotech stocks, which has followed the news that a melanoma drug from Incyte (INCY 68.72, -14.35, -17.3%) and Merck (MRK 54.01, -0.52, -0.9%) failed to meet a primary endpoint in a Phase 3 trial, has factored heavily in the underperformance of the health care sector.

The utilities (-0.02%), consumer staples (-0.04%), and real estate (+0.03%) sectors are today's relative strength leaders.

Trade issues are not all the market has had to contend with, however. The March employment report was released before the open and it was a mixed bag.

The report showed a surprisingly weak 103,000 gain in nonfarm payrolls and a sturdy 0.3% increase in average hourly earnings. The latter left average hourly earnings up 2.7% year-over-year, which is a tick higher from February but still not as high as the 2.8% year-over-year growth rate seen in January.

The key takeaway from the report is that it was neither too hot nor too cold to provide a clear basis for the Federal Reserve to re-think its outlook for monetary policy. At the same time, it will temper the market's concerns about the prospect of a fourth rate hike this year in December.

The CME FedWatch Tool currently shows the probability of a fourth rate hike in December at 26.2% versus 32.7% yesterday.

The Treasury market has fared well thus far, getting a boost from some safe-haven buying interest and the notion that there is a diminished probability of a fourth rate hike. The yield on the 2-yr note has slipped two basis points to 2.28% while the yield on the 10-yr note has dropped four basis points to 2.79%.

The notable headlines from the March employment report were as follows:

March nonfarm payrolls increased by 103,000 (Briefing.com consensus 175,000). Over the past three months, job gains have averaged 202,000 per month
February nonfarm payrolls revised to 326,000 from 313,000
January nonfarm payrolls revised to 320,000 from 239,000
March private sector payrolls increased by 102,000 (Briefing.com consensus 180,000)
February private sector payrolls revised to 320,000 from 287,000
January private sector payrolls revised to 188,000 from 238,000
March unemployment rate was 4.1% (Briefing.com consensus 4.0%) versus 4.1% in February
Persons unemployed for 27 weeks or more accounted for 20.3% of the unemployed versus 20.7% in February
The U6 unemployment rate, which accounts for unemployed and underemployed workers, was 8.0, versus 8.2% in February
March average hourly earnings were up 0.3% (Briefing.com consensus 0.2%), after increasing 0.1% in February
Over the last 12 months, average hourly earnings have risen 2.7%, versus 2.6% for the 12 months ending in February
The average workweek in March was 34.5 hours (Briefing.com consensus 34.5) versus 34.5 hours in February
March manufacturing workweek was down 0.1 hours to 40.9 versus 41.0 hours in February
Factory overtime decreased 0.1 hours to 3.6 hours
The labor force participation rate was 62.9% in March, versus 63.0% in February

Dow: -294.49… | Nasdaq: -55.57… | S&P: -23.65…
NASDAQ Adv/Dec 893/1518. …NYSE Adv/Dec 797/2027.

12:20PM ET

[BRIEFING.COM] In the midst of the New York lunch hour, the stock market continues to struggle from a lack of buying interest.

Every sector is now showing a loss for the day, although the most heavily-weighted sectors are among the weakest performers.

Technically, the information technology sector (-1.2%) is outperforming the S&P 500 (-1.4%), but it is still weak. Losses there, combined with losses in the financial (-1.7%), health care (-1.7%), and industrials (-1.9%) sectors, are making it difficult to mount a comeback bid.

The indices are all at, or very near, their lows of the day.
Dow: -442.15… | Nasdaq: -84.08… | S&P: -36.82…
NASDAQ Adv/Dec 793/1695. …NYSE Adv/Dec 708/2107.

12:00PM ET

[BRIEFING.COM] The major indices are off their lows, but remain pretty depressed in negative territory.

The pockets of relative strength in the stock market can be found in the defensive-oriented sectors like utilities (+0.1%) and consumer staples (-0.1%. The real estate sector (-0.1%) has exhibited some relative strength, too, drawing a measure of support from the drop in market rates.

Overall, though, there is plenty of red to be found on stock monitors.

Decliners are outlegging advancers at the NYSE and Nasdaq by roughly a 2-to-1 margin.


Dow: -353.50… | Nasdaq: -61.34… | S&P: -26.95…
NASDAQ Adv/Dec 866/1641. …NYSE Adv/Dec 812/1996.

11:30AM ET

[BRIEFING.COM] Thus far, buyers haven't shown the same bravado they did on Wednesday when they ultimately accepted the notion that tough trade talk is just a negotiating tactic.

At the moment, they are being put off by the idea that -- negotiating tactic or not -- talk of tariffs is breeding a heightened sense of uncertainty about companies being able to live up to high earnings growth expectations this year.

Accordingly, the inclination so far has been to sell into strength. Having done so, the S&P 500 is now down for the week (-0.4%) after entering today's session up 1.2% since last Thursday.

The financials (-1.7%) have been an influential weight on today's proceedings as the dip in interest rates, and the perspective that the March employment report has diminished the probability of a fourth rate hike in December, has fueled some selling interest.

On a related note, the CME FedWatch Tool shows the probability of a fourth rate hike in December at 26.2% versus 34.7% yesterday.
Dow: -377.69… | Nasdaq: -76.18… | S&P: -31.23…
NASDAQ Adv/Dec 809/1741. …NYSE Adv/Dec 688/2107.

10:55AM ET

[BRIEFING.COM] Selling interest has intensified and the major indices have plumbed new session lows in the last half hour. The downturn has been broad-based, yet it is the cyclical sectors that are pacing the slide that has the Dow, Nasdaq, and S&P 500 down between 1.0% and 1.4%.

The relative weakness of the cyclical sectors is an offshoot of concerns about a potential imposition of tariffs slowing global economic growth. The industrials (-1.5%) and materials (-1.2%) sectors are today's worst-performing sectors so far.

Notably, the selling pressure in the Russell 2000 (-0.5%) has been more modest, which is to be expected as market participants contemplate the effects of protectionism hitting multinational companies harder than companies with a domestic sales base.

The weak price action in the stock market, after an initial recovery attempt, has fostered some safe-haven buying interest in the Treasury market. The yield on the 10-yr note has dropped five basis points to 2.78%.
Dow: -331.77… | Nasdaq: -71.28… | S&P: -27.33…
NASDAQ Adv/Dec 859/1759. …NYSE Adv/Dec 816/1931.

10:30AM ET
[BRIEFING.COM]

Commodities are beginning the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.3% at 86.9502
Dollar index is currently -0.3% at 89.89
Looking at energy...
May WTI crude oil futures are now -$0.49 at $63.05/barrel
In other energy, May natural gas is +$0.02 at $2.70/MMBtu
Moving on to metals...
June gold is currently +$7.00 at $1335.50/oz, while May silver is +$0.04 at $16.39/oz
May copper is now -$0.03 at $3.05/lb

Dow: -208.25… | Nasdaq: -41.79… | S&P: -17.17…
NASDAQ Adv/Dec 933/1668. …NYSE Adv/Dec 989/1715.

10:00AM ET

[BRIEFING.COM] The stock market has continued its rebound effort with the S&P 500 narrowing its loss to 0.3%. At its current level, the benchmark index is up 0.5% for what has been a volatile week. The Dow Jones Industrial Average (-0.4%; +1.2% week-to-date) has had a better showing while the tech-heavy Nasdaq (-0.2%) is currently little change for the week.

The Nasdaq has mimicked this week's performance in the technology sector while the remaining ten groups are looking to record weekly gains ranging from 0.1% (industrials) to 1.3% (consumer discretionary and energy).

High-beta groups have yet to catch up to the broader market as the iShares Nasdaq Biotechnology ETF (IBB 103.34, -0.80) retreats 0.8% while the PHLX Semiconductor Index is down 0.5%.
Dow: -92.54… | Nasdaq: -18.85… | S&P: -9.18…
NASDAQ Adv/Dec 1126/1503. …NYSE Adv/Dec 1058/1552.

09:45AM ET

[BRIEFING.COM] As expected, the major averages began the day in negative territory, but the market has spent the initial minutes in a rally off its opening lows. The S&P 500 remains lower by 0.5% with nine out of eleven sectors trading in the red.

The top-weighted technology sector (-0.5%) has kept pace with the broader market so far, while two other influential groups-financials (-0.8%) and health care (-0.6%)-display relative weakness. Industrials (-0.7%) also lag while real estate (+0.1%) and consumer staples (+0.1%) show slim gains.

Treasuries hover near their recently-established highs with the 10-yr yield down three basis points at 2.80%.
Dow: -147.64… | Nasdaq: -31.98… | S&P: -12.56…
NASDAQ Adv/Dec 1072/1497. …NYSE Adv/Dec 957/1596.

09:13AM ET
[BRIEFING.COM] S&P futures vs fair value: -22.70. Nasdaq futures vs fair value: -72.70.

The stock market is on track for a lower open, though index futures have reclaimed roughly half of their original losses. The futures market slumped last evening, in response to President Trump's request that U.S. trade officials consider imposing tariffs on another $100 billion worth of imports from China. Markets in China were closed on Friday, but the country's Ministry of Commerce said China is ready to respond to new tariffs and that negotiations cannot be conducted under current conditions. The S&P 500 futures remain 23 points below fair value.

In addition to the trade-related developments, participants received the March Employment Situation report this morning. The report missed headline expectations by a wide margin, but average hourly earnings increased 0.3%, pushing up the year-over-year rate of growth to 2.7% from 2.6% reported in the February reading. With Fed officials believing that the labor market is near or at full employment, policymakers are unlikely to be concerned with the headline miss. Fed Chairman Jay Powell will speak today at 13:30 ET, and may comment on the Fed's assessment of the labor market.

Today's batch of economic data will be capped with the 15:00 ET release of the Consumer Credit report for February (Briefing.com consensus $15.00 billion).

Treasuries sit on their highs, pressuring the 10-yr three basis points to 2.80%.

08:57AM ET
[BRIEFING.COM] S&P futures vs fair value: -18.50. Nasdaq futures vs fair value: -55.00.

The S&P 500 futures trade 19 points below fair value.

Equity indices in the Asia-Pacific region ended the week on a mixed note while markets in China remained closed for a holiday. U.S. President Trump called for another round of tariffs, targeting $100 billion worth of imports from China. China's Ministry of Commerce responded, warning that new comprehensive measures will be taken to safeguard interests. Elsewhere, there is a growing expectation that the Bank of Japan will lower its inflation forecast during the April policy meeting.

In economic data:
Japan's February Household Spending -1.5% month-over-month (expected -0.6%; last 2.7%); -0.9% year-over-year (expected 0.3%; last 2.0%). Average Cash Earnings +1.3% year-over-year (expected 0.5%; last 1.2%) and February Leading Index 105.8 (expected 105.5; last 105.6)
Hong Kong's March Manufacturing PMI 50.6 (last 51.7)

---Equity Markets---

Japan's Nikkei lost 0.4%, narrowing this week's gain to 0.5%. Takeda Pharmaceutical fell 5.0% while Shin-Etsu Chemical, Yaskawa Electric, NSK, Furukawa Electric, Alps Electric, Daikin Industries, and Nippon Electric Glass surrendered between 1.6% and 2.7%.
Hong Kong's Hang Seng rose 1.1%. trimming this week's loss to 0.8%. Apple suppliers Sunny Optical Tech and AAC Technologies gained 3.6% and 2.1%, respectively, while property names like New World Development, SHK Properties, Link Reit, Henderson Land, and Sino Land advanced between 1.3% and 2.2%.
China's Shanghai Composite was closed for Tomb Sweeping Day. The index lost 1.2% for the week.
India's Sensex added 0.1%, rising 3.2% for the week. ICICI Bank, HDFC Bank, SBI, and Yes Bank gained between 0.4% and 1.0%. On the downside, Tata Consultancy, Wipro, and Infosys lost between 0.3% and 1.3%.

Major European indices trade on a broadly lower note, but losses have been limited so far. In Italy, President Sergio Mattarella said that coalition talks have not yielded any results yet, and that the dialogue will continue next week. Germany's Ifo Institute announced it will modify its Business Climate Index to include the services sector. The new methodology will be used to compile the April index.

In economic data:
Eurozone Retail PMI 50.1 (last 52.3)
Germany's February Industrial Production -1.6% month-over-month (expected 0.2%; last 0.1%)
France's February trade deficit EUR5.20 billion (expected deficit of EUR5.30 billion; last deficit of EUR5.40 billion)
Spain's February Industrial Production +3.1% year-over-year (expected 5.1%; last 0.7%)

---Equity Markets---

UK's FTSE is lower by 0.2%. Consumer names and miners are among the laggards with Next, Marks & Spencer, Randgold Resources, Glencore, Rio Tinto, Antofagasta, BHP Billiton, and Anglo American show losses between 1.1% and 2.5%. On the upside, homebuilders Taylor Wimpey, Persimmon, and Barratt Developments hold gains between 0.6% and 1.2%.
France's CAC is down 0.3%. TechnipFMC is down 2.6% while consumer names like Carrefour, L'Oreal, Danone, Accor, Kering, and Louis Vuitton have given up between 0.6% and 1.2%.
Germany's DAX has slid 0.5%. Deutsche Bank is down 1.9% amid continued speculation pointing to an imminent management shake-up. Heavyweights like Volkswagen, Siemens, Merck, BASF, and Bayer are down between 0.5% and 1.5%.

08:32AM ET
[BRIEFING.COM] S&P futures vs fair value: -18.70. Nasdaq futures vs fair value: -57.00.

The S&P 500 futures trade 19 points below fair value.

Just in, March nonfarm payrolls increased by 103,000 while the Briefing.com consensus expected an increase of 175,000. The prior month's increase was revised to 326,000 from 313,000. Nonfarm private payrolls rose by 102,000 while the Briefing.com consensus expected an increase of 180,000. The previous month's increase was revised to 320,000 from 287,000.

Average hourly earnings increased 0.3% (Briefing.com consensus +0.2%), while the previous month's increase was left unrevised at 0.1%. The average workweek was reported at 34.5 (Briefing.com consensus 34.5). The unemployment rate stayed at 4.1% (Briefing.com consensus 4.0%).

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: -27.70. Nasdaq futures vs fair value: -88.00.

The stock market is poised to retrace a portion of its recent advance, as futures on the S&P 500 trade nearly 30 points below fair value.

The futures market stumbled in last evening's action after President Trump ordered his trade officials to consider imposing tariffs on another $100 billion worth of imports from China. Markets in China were closed on Friday, but the country's Ministry of Commerce warned that new comprehensive measures will be taken to safeguard Chinese interests. Chinese officials are expected to comment on trade around 8:00 ET.

The trade-related comments from China will precede the 8:30 ET release of the Employment Situation report for March. The Briefing.com consensus expects the report to indicate the addition of 175,000 payrolls after a strong February reading (313,000). Later in the day, the Consumer Credit report for February (Briefing.com consensus $15.00 billion) will be released at 15:00 ET.

The overnight session was fairly quiet on the fixed income side. Treasuries trade little changed with the 10-yr yield ticking down one basis point to 2.82%.

Also of note, Fed Chairman Jay Powell will speak at 13:30 ET.

In U.S. corporate news:

Greenbrier (GBX 50.85, +1.55): +3.1% after beating earnings and revenue expectations
Wynn Resorts (WYNN 185.16, +3.92): +2.2% after the New York Post reported that MGM Resorts (MGM 35.50, -0.07) may acquire Wynn Resorts

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mixed note. Japan's Nikkei -0.4%, Hong Kong's Hang Seng +1.1%, and China's Shanghai Composite remained closed
In economic data:
Japan's February Household Spending -1.5% month-over-month (expected -0.6%; last 2.7%); -0.9% year-over-year (expected 0.3%; last 2.0%). Average Cash Earnings +1.3% year-over-year (expected 0.5%; last 1.2%) and February Leading Index 105.8 (expected 105.5; last 105.6)
Hong Kong's March Manufacturing PMI 50.6 (last 51.7)
In news:
There is a growing expectation that the Bank of Japan will lower its inflation forecast during the April policy meeting

Major European indices trade lower across the board. UK's FTSE -0.3%, France's CAC -0.4%, Germany's DAX -0.6%
In economic data:
Eurozone Retail PMI 50.1 (last 52.3)
Germany's February Industrial Production -1.6% month-over-month (expected 0.2%; last 0.1%)
France's February trade deficit EUR5.20 billion (expected deficit of EUR5.30 billion; last deficit of EUR5.40 billion)
Spain's February Industrial Production +3.1% year-over-year (expected 5.1%; last 0.7%)
In news:
Germany's Ifo Institute will modify its Business Climate Index to include responses from the services sector


06:55AM ET
[BRIEFING.COM] S&P futures vs fair value: -17.00. Nasdaq futures vs fair value: -46.25.

06:54AM ET
[BRIEFING.COM] Nikkei...21567.5...-77.90...-0.40%. Hang Seng...29845...+326.30...+1.10%.

06:54AM ET
[BRIEFING.COM] FTSE...7186.29...-13.20...-0.20%. DAX...12240.54...-64.70...-0.50%.

04:25PM ET

[BRIEFING.COM] Equities advanced for a third consecutive session on Thursday, with energy and materials shares leading a broad-based rally.

The benchmark S&P 500 jumped 0.7% to 2662.84, trimming its yearly loss to 0.4%, while the Nasdaq Composite climbed 0.5% to 7076.55, and the Dow Jones Industrial Average rallied 1.0% to 24505.22. The S&P 500 and the Dow never touched negative territory -- the Nasdaq did briefly -- and all three major averages finished in the upper half of their trading ranges. Action was somewhat volatile -- although not as volatile as other sessions this week -- but the CBOE Volatility Index slipped 1.43 points, or 7.1%, to 18.63 -- a two-week low.

10 of 11 S&P sectors finished in positive territory, with growth-sensitive groups like consumer discretionary (+1.4%), industrials (+1.0%), energy (+1.8%), and materials (+1.9%) leading the charge. The top-weighted technology sector couldn't keep pace, however, which was somewhat discouraging, but the group still finished with a gain of 0.4%.

Within the tech space, Facebook (FB 159.34, +4.24) outperformed, adding 2.7%, after CEO Mark Zuckerberg said he doesn't think the #deletefacebook movement has had a material impact. Chipmakers lagged, however, pushing the PHLX Semiconductor Index lower by 1.0%. NVIDIA (NVDA 221.38, -4.86) lost 2.2% following some cautious commentary out of Citron Research, and Micron (MU 49.84, -3.55) tumbled 6.7% after a director disclosed that she sold 25,000 shares on April 2. UBS initiated a 'Sell' rating following the disclosure.

Meanwhile, the heavily-weighted health care sector finished at the bottom of the sector standings, shedding 0.1%, as biotechnology names underperformed -- evidenced by the 1.6% decline in the iShares Nasdaq Biotechnology ETF (IBB 104.17, -1.72). Biogen (BIIB 264.98, -7.42) was particularly weak, losing 2.7%, after being downgraded to 'Equal Weight' from 'Overweight' at Barclays.

Despite the pockets of weakness, the broader market was strong through most of Thursday's session. A Bloomberg TV interview with Atlanta Fed President Raphael Bostic contributed to the positive bias, as Mr. Bostic, who is a voting member on this year's FOMC, said he's comfortable with inflation going above the Fed's 2.0% target -- which suggests that he may favor a less aggressive approach to hiking interest rates. However, with the March Employment Situation Report due Friday, investors fought the urge to tamper with their rate-hike expectations.

U.S. Treasuries largely kept overnight losses intact on Thursday, extending them just slightly during intraday trade. The yield on the benchmark 10-yr Treasury note advanced four basis points to 2.83%, closing at its highest level in more than a week, while the 2-yr yield ticked up two basis points to 2.30%.

Reviewing Thursday's economic data, which was limited to the Trade Balance for February and weekly Initial Claims:

The February trade balance showed a deficit of $57.6 billion (Briefing.com consensus -$56.7 billion). The January deficit was revised to $56.7 billion from $56.6 billion.
The key takeaway from the report is twofold: (1) it underscores that trade will be a drag on Q1 GDP growth and (2) it will continue to fan the rhetorical flames regrading trade imbalances.
The latest weekly initial jobless claims count totaled 242,000, while the Briefing.com consensus expected a reading of 225,000. Today's tally was above the revised prior week count of 218,000 (from 215,000). As for continuing claims, they declined to 1.808 million from a revised count of 1.872 million (from 1.871 million).
The key takeaway from the report is that the headline disappointment will be washed away as some normal volatility in a data series that has been persistently encouraging. To that end, this is the 161st straight week initial claims have held below 300,000.

On Friday, investors will receive the Employment Situation Report for March, which the Briefing.com consensus expects will show the addition of 175,000 nonfarm payrolls, an increase of 0.2% in average hourly earnings, and an unemployment rate of 4.0%. The report, which has the potential to move the financial markets, will be released at 8:30 AM ET. The much less influential Consumer Credit Report for February (Briefing.com consensus $15.0 billion) will be released in the afternoon at 3:00 PM ET.

Nasdaq Composite: +2.5% YTD
S&P 500: -0.4% YTD
Dow Jones Industrial Average: -0.9% YTD
Russell 2000: +0.5% YTD

Dow: +240.92… | Nasdaq: +34.44… | S&P: +18.15…
NASDAQ Adv/Dec 1822/1078. …NYSE Adv/Dec 2129/776.

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

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

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

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

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

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

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

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

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


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