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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: April 18th Wednesday Price Action Trade Result - No Trades
PostPosted: Thu Apr 19, 2018 8:21 am 
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Joined: Sat Jan 10, 2009 2:06 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
wrbanalysis@gmail.com (24/7)
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Quote:
No trades today for me because I needed a rest day. Yet, I did spent a few hours today studying Eurex futures, Euronext futures and Treasury futures to become familiar with them again. 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=2801

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: -38.56… | Nasdaq: +14.14… | S&P: +2.25…
NASDAQ Vol: 1.89 bln… Adv: 1508… Dec: 1386…
NYSE Vol: 770.2 mln… Adv: 1615… Dec: 1280…

Moving the Market

Top-weighted tech sector lags; IBM (IBM) paces the retreat after reporting its Q1 results

Shares of Morgan Stanley (MS) up and down despite solid earnings beat; negative sign for financials, which have struggled despite upbeat earnings from several heavyweights

Yield curve steepens a bit after 2s10s spread hit its lowest level since 2007 on Tuesday

Energy shares rally as crude oil returns to three-year high; WTI crude futures hit $68/bbl

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

04:20PM ET

[BRIEFING.COM] The major averages were range-bound on Wednesday, finishing the session little changed. Investors took in the latest batch of first quarter earnings, which featured reports from IBM (IBM 148.79, -12.12) and Morgan Stanley (MS 53.26, +0.02), and watched crude oil futures return to their highest level in more than three years. The S&P 500 and the Nasdaq Composite finished higher by 0.1% and 0.2%, respectively, closing in the green for a third straight session, while the Dow Jones Industrial Average lagged, finishing lower by 0.2%.

IBM shares dropped 7.5% on Wednesday, as investors looked past the tech giant's above-consensus first quarter profits and revenues, instead focusing on its disappointing gross margin rate, the quality of its revenue (more from hardware and less from cloud), and its relatively conservative profit guidance for fiscal year 2018. The broader technology sector finished a tick lower, shedding 0.2%, closing near the middle of the sector standings.

The financial group, meanwhile, declined 0.4%, continuing to struggle despite blow-out Q1 results from Morgan Stanley -- which included better-than-expected earnings and revenues. Shares of the investment bank were up and down on Wednesday before eventually finishing flat. Morgan Stanley joins a list of financial firms that have struggled after reporting upbeat Q1 results -- including JPMorgan Chase (JPM 109.32, -0.89), Wells Fargo (WFC 50.39, -0.18), Citigroup (C 68.98, -0.76), Bank of America (BAC 29.53, -0.51), and Goldman Sachs (GS 254.00, +0.37).

A slight steepening of the yield curve helped underpin financials to some degree however, bringing the 2s10s spread up from the more than 10-year low it touched on Tuesday. The yield on the benchmark 10-yr Treasury note climbed five basis points to 2.87%, while the yield on the 2-yr Treasury note advanced two basis points to 2.42%.

Meanwhile, West Texas Intermediate crude futures rallied 2.7% to $68.31 per barrel, rebounding from back-to-back down days. WTI crude futures have surged 10.0% since April 6, initially underpinned by the belief that heightened tensions in the oil-rich Middle East could lead to a slowdown in production. Tensions appear to have been dialed back following a one-off U.S.-led strike on Syria over the weekend, but the commodity continues to challenge its best level since November-December 2014. The Department of Energy's weekly inventory report, which showed that U.S. crude stockpiles declined by 1.1 million barrels last week, helped fuel Wednesday's crude rally.

The energy sector has unsurprisingly benefited from the increase in crude prices, adding another 1.6% on Wednesday to extend its April gain to 9.1%; for comparison, the S&P 500 is up 2.6% month to date. Energy finished at the top of Wednesday's sector standings, with industrials (+1.0%) being the next-best performer. Within the industrial space, transports showed particular strength, pushing the Dow Jones Industrial Average higher by 1.7%, after United Continental (UAL 70.58, +3.24, +4.8%) and CSX (CSX 61.01, +4.44, +7.9%) reported above-consensus first quarter results.

On the downside, the consumer staples space was the worst-performing sector, losing 0.9%, with tobacco names leading the retreat after analysts at Goldman downgraded shares of Altria (MO 61.50, -2.48) to 'Neutral' from 'Buy'; Altria shares lost 3.9%. In general, countercyclical sectors underperformed their cyclical peers, but, as mentioned above, the cyclical financials and technology groups -- which are the two most influential sectors -- were notable laggards, keeping the broader market's gain in check.

Trading volume was light once again on Wednesday, with just 770 million shares changing hands at the New York Stock Exchange -- about 17% less than the 50-day moving average.

Reviewing Wednesday's economic data, which was limited to the Fed's Beige Book for March and the weekly MBA Mortgage Applications Index:

The Fed's Beige Book showed that economic activity continued to expand at a modest to moderate pace across the 12 Federal Reserve Districts in March and early April. Outlooks remained positive, but contacts in various sectors including manufacturing, agriculture, and transportation expressed concern about the newly imposed and/or proposed tariffs. Upward wage pressures persisted, but generally did not escalate; most Districts reported wage growth as only modest.
The weekly MBA Mortgage Applications Index increased 4.9% to follow last week's 1.9% decline.

On Thursday, investors will receive the weekly Initial Claims report (Briefing.com consensus 226K), the Philadelphia Fed Index for April (Briefing.com consensus 21.0), and the Conference Board's Leading Economic Index for March (Briefing.com consensus +0.4%).

Nasdaq Composite: +5.7% YTD
Russell 2000: +3.1% YTD
S&P 500: +1.3% YTD
Dow Jones Industrial Average: +0.1% YTD

Dow: -38.56… | Nasdaq: +14.14… | S&P: +2.25…
NASDAQ Adv/Dec 1508/1386. …NYSE Adv/Dec 1615/1280.

03:35PM ET
[BRIEFING.COM]

Commodities ending the day higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are +1.6% at 90.4564
Energy:
May Crude Oil futures rose $1.96 (2.95%) to $68.46/barrel
May Natural Gas settled flat at $2.74/MMBtu
Metals:
June gold settled today's session up $3.90 (0.29%) at $1353.6/oz
May silver settled today's session $0.08 higher (2.68%) at $17.23/oz
May copper settled $0.08 higher (2.6%) at $3.16/lb
The dollar index is +0.2% at 89.35

Dow: -11.46… | Nasdaq: +26.83… | S&P: +6.56…
NASDAQ Adv/Dec 1468/1077. …NYSE Adv/Dec 1683/1212.

02:55PM ET

[BRIEFING.COM] The S&P 500 is hovering at the top of its daily range with one hour to go, sporting a modest gain of 0.3%.

Most sectors are trading higher -- consumer discretionary (+0.7%), industrials (+1.2%), energy (+2.3%), materials (+0.9%), and health care (+0.2%) -- some are trading flat -- technology (unch), utilities (unch), and real estate (unch) -- and a few are lower -- financials (-0.3%), consumer staples (-1.0%), and telecoms (-0.4%).

Looking ahead, American Express (AXP 94.64, +0.78), Kinder Morgan (KMI 16.25, +0.24), and Alcoa (AA 59.72, +2.64) will report earnings following today's close, while Taiwan Semi (TSM 42.07, -0.23) and Philip Morris (PM 100.81, -2.49) are due to report on Thursday morning.
Dow: +6.43… | Nasdaq: +36.42… | S&P: +9.37…
NASDAQ Adv/Dec 1539/1077. …NYSE Adv/Dec 1736/1155.

02:30PM ET

[BRIEFING.COM] Up-and-down trade has the S&P 500 and the Nasdaq Composite near session highs post-Beige Book.

The Fed's Beige Book was released at the top of the hour, showing economic activity continued to expand at a modest to moderate pace across the 12 Federal Reserve Districts in March and early April. The Fed highlighted continuing widespread employment growth, with most Districts characterizing growth as modest to moderate. Labor markets across the country remained tight, restraining job gains in some regions while most Districts reported wage growth as only modest.

While outlooks remained positive, contacts in various sectors including manufacturing, agriculture, and transportation expressed concern about the newly imposed and/or proposed tariffs.

U.S. Treasuries are also little changed post-Beige Book with the yield on the benchmark 10-yr note up about 2 basis points at 2.86%.
Dow: +5.06… | Nasdaq: +28.70… | S&P: +8.43…
NASDAQ Adv/Dec 1569/1065. …NYSE Adv/Dec 1754/1138.

01:55PM ET

[BRIEFING.COM] The broader market is little changed from our last update as the benchmark index still holds gains of about 0.3% into the Fed's Beige Book for March.

In commodities, gold futures settled about 0.3% higher on Wednesday at $1,353.60/oz; the commodity, which is priced in U.S. dollars, sees a modest move higher in tandem with a modestly higher buck.

As such, the U.S. dollar adds about 0.1% at 89.58.

As a reminder, the March Beige Book is due out at the top of the hour.
Dow: -16.94… | Nasdaq: +22.22… | S&P: +7.58…
NASDAQ Adv/Dec 1584/1087. …NYSE Adv/Dec 1715/1151.

01:35PM ET

[BRIEFING.COM] The major U.S. indices continue to trade mixed as stocks cool off off following two days of strong gains to kick off the trading week.

A look inside the Dow Jones Industrial Average shows that IBM (IBM 149.02, -11.89), Johnson & Johnson (JNJ 128.01, -2.53), & Travelers (TRV 135.66, -1.68) are underperforming. IBM is weighing on the Dow after reporting its Q1 results as disappointing margin results outweigh an EPS & revenue beat.

Conversely, Home Depot (HD 179.59, +4.68) is the best-performing Dow component as the DIY giant recovers from recent underperformance after announcing that it would be hiring approximately 1,000 new technology professionals this year at its primary technology centers in Atlanta, Austin and Dallas to support initiatives related to its $11.1 bln three-year strategic investment plan.

For the week, the DJIA is currently +1.75%.
Dow: -2.03… | Nasdaq: +29.50… | S&P: +8.40…
NASDAQ Adv/Dec 1653/1021. …NYSE Adv/Dec 1776/1072.

01:00PM ET

[BRIEFING.COM] Equity indices are mixed at midday after a range-bound first half of trading. The S&P 500 and the Nasdaq Composite are up 0.3% and 0.4%, respectively, while the Dow Jones Industrial Average is down 0.1%. All three major averages are looking for their third consecutive win and are up between 1.7% and 2.9% week to date.

The latest batch of first quarter earnings included results from tech giant IBM (IBM 148.75, -12.16), financial services firm Morgan Stanley (MS 53.16, -0.08), and a couple of transport names, including railroad giant CSX (CSX 60.05, +3.48) and airline United Continental (UAL 71.72, +4.38). All four companies beat earnings estimates and three of the four -- IBM, MS, and CSX -- also beat on revenues, but shares of the companies have had a mixed reaction thus far.

On the downside, IBM shares have dropped 7.5%, with investors citing the company's disappointing gross margin rate, the quality of its revenue (more from hardware and less from cloud), and its relatively conservative FY18 earnings guidance. Shares of Morgan Stanley, meanwhile, started the session in positive territory, but have since dropped into the red and are currently down 0.5%. The reversal has fueled another disappointing performance from the heavily-weighted financial sector (-0.5%), which has struggled as of late despite largely upbeat Q1 results.

Conversely, shares of CSX and United Continental have rallied today, rising 6.2% and 6.7%, respectively, helping to push the Dow Jones Transportation Average higher by 2.0%. The DJTA is seen as a leading indicator for the U.S. economy, so its outperformance typically has a positive impact on investor sentiment.

Meanwhile, the price of crude oil has rebounded today following two down sessions, returning to a three-year high, after the Energy Information Administration reported that U.S. crude inventories declined by 1.1 million barrels last week. West Texas Intermediate crude futures are currently up 1.8% at $67.73 per barrel after cracking $68.00 per barrel earlier in the session. Accordingly, the S&P's energy sector is trading atop the sector standings with a gain of 1.6%.

In total, seven sectors are in the green, and four are in the red. Industrials, which houses transportation names, is trading behind energy at the top of the leaderboard, up 1.1%, while financials and consumer staples trade at the bottom, down 0.5% and 0.8%, respectively. The top-weighted technology sector, which houses IBM, also underperforms, shedding 0.1%.

Outside of equities, U.S. Treasuries have sold off today in a curve-steepening trade that's pushed the 2s10s spread to 44 basis points from 42 bps on Tuesday; the yield on the benchmark 10-yr Treasury note is up four basis points at 2.85%. Meanwhile, the U.S. Dollar Index is a tick higher, up 0.1% at 89.29.

As for economic data, the weekly MBA Mortgage Applications Index was released this morning, showing an increase of 4.9%, while the Fed's Beige Book for March will cross the wires at 2:00 PM ET.
Dow: -12.77… | Nasdaq: +30.66… | S&P: +7.86…
NASDAQ Adv/Dec 1757/959. …NYSE Adv/Dec 1804/1053.

12:30PM ET

[BRIEFING.COM] The Dow (unch) is struggling to keep in the green this afternoon, while the S&P 500 and the Nasdaq sport gains of around 0.3%.

Most sectors are higher, but the consumer staples group is not; the group is currently trading at the bottom of the sector standings with a loss of 0.8%. Tobacco giant Altria (MO 60.79, -3.19) is the weakest component within the group, showing a loss of 5.0%, after Citigroup downgraded shares to 'Neutral' from 'Buy.'

In Europe, the major bourses finished Wednesday in positive territory, with the UK's FTSE (+1.3%) showing particular strength.
Dow: +0.91… | Nasdaq: +30.35… | S&P: +7.90…
NASDAQ Adv/Dec 1725/1019. …NYSE Adv/Dec 1815/1027.

12:00PM ET

[BRIEFING.COM] The major averages haven't shifted much in recent trading, continuing to hover a step above yesterday's closing levels.

Financials have slipped into negative territory though, unable to advance once again despite a solid earnings beat from Morgan Stanley (MS 53.67,+0.43). Several financial heavyweights have reported better-than-expected results for the first quarter, but the sector has been struggling to do much with the positive news.

Meanwhile, U.S. Treasuries have sold off in a curve-steepening trade today, which has provided some support to the financial sector. The 2s10s spread is currently at 43 basis points, up from 42 basis points yesterday -- which marked its lowest level since 2007.
Dow: -2.67… | Nasdaq: +19.11… | S&P: +6.60…
NASDAQ Adv/Dec 1649/1082. …NYSE Adv/Dec 1811/1021.

11:25AM ET

[BRIEFING.COM] Stocks have ticked up a bit since the last update, pushing the S&P 500 (+0.4%) to a new session high.

Eight sectors are currently trading higher, including financials (+0.3%), consumer discretionary (+0.8%), industrials (+1.1%), energy (+1.4%), materials (+1.1%), health care (+0.1%), utilities (+0.8%), and real estate (+0.3%), while three are trading in the red -- technology (-0.2%), consumer staples (-0.4%), and telecoms (-0.4%).

In currencies, the U.S. dollar is up 0.4% against the pound at 1.4227 after the UK's March CPI showed a deceleration in inflation, dropping to +2.5% year-over-year from +2.7%. Meanwhile, the greenback is down 0.1% against the euro at 1.2378 and up 0.3% against the yen at 107.29.
Dow: +4.27… | Nasdaq: +24.63… | S&P: +8.83…
NASDAQ Adv/Dec 1759/985. …NYSE Adv/Dec 1891/923.

11:00AM ET

[BRIEFING.COM] The S&P 500 (+0.3%) has continued to drift a step above its flat line this morning, with weakness in technology shares offsetting gains in most other areas.

Crude oil is back at a three-year high following the Department of Energy's weekly inventory report, which showed a draw of 1.1 million barrels for the week ended April 13 -- which is in line with the API figures released last night. West Texas Intermediate crude futures are up 2.1% at $67.94 per barrel, helping to underpin the S&P 500's energy sector, which is atop today's sector standings with a gain of 1.6%.

Geopolitical tensions in the Middle East prompted investors to bet on a slowdown in crude production last week. The commodity jumped more than 8.0% amid the speculation and kept much of that gain intact even though a U.S.-led strike on Syria over the weekend was met with limited retaliation, suggesting it was a one-off strike.
Dow: -13.55… | Nasdaq: +14.33… | S&P: +6.94…
NASDAQ Adv/Dec 1722/1030. …NYSE Adv/Dec 1888/893.

10:35AM ET

[BRIEFING.COM] Commodities are showing strength this morning, led by crude oil.

May WTI crude oil futures are up 2.5% over $68/barrel for the first time in over thee years. The American Petroleum Institute reported a 1.05 million barrel draw of inventory yesterday afternoon. Crude oil extended its break out just now after the US Energy Information Administration reported crude inventories fell 1.1 million barrels versus estimates for a build.

Natural Gas futures are up 1.6% at $2.78/MMBtu.

Silver is leading previous metals higher as the May futures contract is up 2.6% at $17.23/oz. Meanwhile, gold is testing recent resistance, up 0.5% just under $1356/oz.
Dow: -28.62… | Nasdaq: -5.1… | S&P: +2.23…
NASDAQ Adv/Dec 1551/1196. …NYSE Adv/Dec 1780/953.

10:00AM ET

[BRIEFING.COM] The S&P 500 is struggling to stay afloat in early action as tech shares continue to weigh. The index is currently up 0.2%.

Transports have started today's session on a strong note, evidenced by the 1.2% increase in the Dow Jones Transportation Average. Railroad giant CSX (CSX 60.31, +3.78) is setting the pace, up 6.7%, after reporting better-than-expected earnings and revenues for the first quarter yesterday evening. United Continental (UAL 68.50, +1.16) is also higher, up 1.8%, following its Q1 results, which showed above-consensus earnings. The airline also raised the low end of its 2018 guidance.

The S&P's industrial sector, which houses transportation names, is trading comfortably above the broader market with a gain of 0.8%.
Dow: +18.16… | Nasdaq: +4.74… | S&P: +6.28…
NASDAQ Adv/Dec 1557/1213. …NYSE Adv/Dec 1778/901.

09:40AM ET

[BRIEFING.COM] The major averages are hovering a step above yesterday's closing levels, sporting gains between 0.1% and 0.3%.

Most S&P sectors are trading in the green, but gains are modest overall and the top-weighted information technology sector -- which represents around a quarter of the broader market by itself -- is in the red, showing a loss of 0.3%. Shares of IBM (IBM 152.47, -8.33) are down 6.0% after the company's gross margins didn't measure up to expectations in the first quarter.

Meanwhile, the energy sector is up 1.5% as WTI crude futures return to a three-year high, jumping 2.3% to $68.02 per barrel.
Dow: +28.57… | Nasdaq: +12.91… | S&P: +6.81…
NASDAQ Adv/Dec 1637/1070. …NYSE Adv/Dec 1850/739.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: +7.30. Nasdaq futures vs fair value: +16.00.

The stock market looks set for a higher open this morning, as the S&P 500 futures are trading seven points, or 0.3%, above fair value.

On the earnings front, shares of IBM (IBM 152.25, -8.66) are down 5.4% in pre-market trading despite the company's better-than-expected earnings and revenues for the first quarter. Conversely, shares of Morgan Stanley (MS 54.04, +0.80) are up 1.5% after the financial firm reported above-consensus Q1 profits, and shares of railroad giant CSX (CSX 59.27, +2.70) are up 4.8% after the company reported better-than-expected earnings and revenues for the first quarter.

Crude oil prices have returned to a three-year high this morning as investors await the weekly inventory report from the Department of Energy, which will be released at 10:30 AM ET. The American Petroleum Institute released its weekly inventory report last night, which showed a decline of 1.0 million barrels for the week ended April 13, but the API report often deviates sharply from the official government figures. West Texas Intermediate crude futures are currently up 1.9% at $67.78 per barrel.

As for economic data, the only notable report on today's calendar is the Fed's Beige Book for March, which will be released at 2:00 PM ET.

In the bond market, U.S. Treasuries are under pressure this morning, pushing yields higher across the curve; the benchmark 10-yr yield is up three basis points at 2.84%. Meanwhile, the U.S. Dollar Index is flat at 89.21, gold futures are up 0.5% at 1355.70 per oz, and the CBOE Volatility Index (VIX) is down 1.1% at 15.08.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +21.30.

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

Equity indices in the Asia-Pacific region ended Wednesday on a higher note. China's 10-yr yield fell seven basis points to 3.61%, its lowest level in nine months, in response to the People's Bank of China announcement that the reserve requirement ratio will be cut by 100 basis points on April 25. The current reserve requirement ratio for large banks is at 17.0% and 15.0% for smaller banks. Elsewhere, Hong Kong Monetary Authority bought HKD5.10 billion to defend the currency peg. U.S. President Donald Trump confirmed that Mike Pompeo, who has been nominated for Secretary of State, met with North Korea's Supreme Leader Kim Jong-un. Mr. Trump expressed his support for North and South Korea to continue talking about a potential unification.

In economic data:
China's March House Prices +4.9% year-over-year (last 5.2%)
Japan's March trade surplus JPY120 billion (expected surplus of JPY100 billion; last deficit of JPY210 billion). March Imports -0.6% year-over-year (expected 5.4%; last 16.6%) and March Exports +2.1% year-over-year (expected 4.7%; last 1.8%)
Australia's MI Leading Index -0.2% month-over-month (last 0.4%)

---Equity Markets---

Japan's Nikkei gained 1.4%. Ebara, Kajima, Okuma, Advantest, Chugai Pharmaceutical, Softbank, Fanuc, Familymart, SUMCO, and Furukawa Electric posted gains between 2.6% and 4.2%.
Hong Kong's Hang Seng advanced 0.7%. Galaxy Entertainment jumped 2.1% while financials and property names like AIA Group, ICBC, China Construction Bank, SKH Properties, BoC Hong Kong, Hang Lung Properties, and Hang Seng Bank added between 0.6% and 2.0%. On the downside, Geely Automobile fell 2.5% and AAC Technologies surrendered 2.0%.
China's Shanghai Composite rose 0.8%. Shanghai East-China Computer, Triump Science & Technology, Grinm Advanced Materials, Hangzhou Silan Microelectronics, and China National Software & Service climbed between 7.6% and 9.9%.
India's Sensex shed 0.2%. AXIS Bank lost 2.6% while IndusInd Bank, SBI, Kotak Mahindra Bank, ICICI Bank, and HDFC Bank surrendered between 0.4% and 1.2%. Tech consultants ended mostly higher. Wipro and ITC added 2.4% and 2.8%, respectively, while Infosys settled just above its flat line.

Major European indices trade mostly higher while Germany's DAX underperforms. German Chancellor Angela Merkel is scheduled to visit the White House on April 27. Meanwhile, British Prime Minister Theresa May is facing more discord within her government. Reports suggest that the House of Lords may have enough votes to pass a proposal to keep Britain in the customs union after the completion of Brexit. In Italy, President Sergio Mattarella is expected to ask Senate Speaker Maria Casellati to attempt forming a parliamentary majority.

In economic data:
Eurozone March CPI +1.0% month-over-month, as expected (last 0.2%); +1.3% year-over-year (consensus 1.4%; last 1.4%). March core CPI +1.0% year-over-year, as expected (last 1.0%); +1.4% year-over-year, as expected (last 0.4%)
UK's March CPI +0.1% month-over-month (expected 0.3%; last 0.4%); +2.5% year-over-year (consensus 2.7%; last 2.7%). Input PPI -0.1% month-over-month (expected 0.3%; last -0.4%) and Output PPI +0.2% month-over-month (expected 0.1%; last 0.0%). March Core CPI +2.3% year-over-year (expected 2.5%; last 2.4%). March House Price Index +4.4% year-over-year (consensus 4.8%; last 4.7%)
Italy's February Industrial New Orders -0.6% month-over-month (last -4.6%); +3.4% year-over-year (last 9.6%). February Industrial Sales +0.5% month-over-month (last -2.9%); +3.4% year-over-year (last 5.3%)

---Equity Markets---

UK's FTSE is higher by 0.9%. Miners are among the leaders with Glencore, Anglo American, Rio Tinto, BHP Billiton, Antofagasta, Fresnillo, and Randgold Resources rising between 2.0% and 4.0%. Mediclinic has jumped 8.3% in response to upbeat guidance.
France's CAC trades up 0.3%. Consumer names like Danone, Carrefour, Accor, and Louis Vuitton have added between 0.3% and 2.3% while ArcelorMittal, Airbus, TechnipFMC, and Total show gains between 1.0% and 2.4%.
Germany's DAX is lower by 0.1% after briefly touching a two-month high. Continental has slid 3.8% after lowering its margin guidance. Automakers Daimler, BMW, and Volkswagen hold losses between 0.5% and 1.5%.

08:25AM ET
[BRIEFING.COM] S&P futures vs fair value: +9.00. Nasdaq futures vs fair value: +22.50.

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

It's been a good week on Wall Street thus far, with the S&P 500, the Dow, and the Nasdaq adding between 1.8% and 2.5% apiece. All 11 S&P 500 sectors are up week to date, sporting gains between 0.4% and 2.7%. The technology (+2.7%), consumer discretionary (+2.6%), materials (+2.5%), and utilities (+2.4%) groups are the top performers, while the financial space (+0.4%) trades at the back of the pack.

The financial sector's weakness has been a concern, especially considering that earnings have looked good for some of the group's most influential components, including Bank of America (BAC) and Goldman Sachs (GS), which reported earlier this week, and JPMorgan Chase (JPM), Wells Fargo (WFC), and Citigroup (C), which reported on Friday.

07:51AM ET
[BRIEFING.COM] S&P futures vs fair value: +10.50. Nasdaq futures vs fair value: +30.00.

The stock market has had a good week thus far, with the S&P 500 adding 1.9%, climbing above its 50-day moving average for the first time in over four weeks on Tuesday. Futures are pointing towards a higher open this morning, but the bullish bias has cooled somewhat; the S&P 500 futures are currently trading 11 points, or 0.4%, above fair value.

Overseas, stock indices in the Asia-Pacific region finished Wednesday higher, with Japan's Nikkei (+1.4%) leading the charge, bumping its weekly gain to 1.7%. Meanwhile, in Europe, Germany's DAX (-0.1%) is lagging a bit, but France's CAC and the UK's FTSE are higher, showing gains of 0.4% and 0.9%, respectively. UK equities are rallying after the country's March CPI showed a deceleration in inflation, dropping to +2.5% year-over-year from +2.7%. The British pound is currently down 0.5% against the U.S. dollar at 1.4213.

Earnings are the focal point once again on Wall Street this morning, but investors are also looking forward to the weekly crude inventory report from the Department of Energy, which will cross the wires at 10:30 AM ET. WTI crude futures have rebounded this morning, returning to a three-year high, after the American Petroleum Institute reported that U.S. crude stockpiles declined by 1.0 million barrels last week. The API data is seen a prelude to the official government report -- although not a very reliable one. WTI crude futures are up 1.4% at $67.42 per barrel.

As for economic data, the weekly MBA Mortgage Applications Index was released earlier this morning, showing an increase of 4.9%, while the Fed's Beige Book for March will cross the wires at 2:00 PM ET.

U.S. Treasuries are under pressure this morning, pushing yields higher across the curve; the benchmark 10-yr yield is up three basis points at 2.84%. Meanwhile, the U.S. Dollar Index is flat at 89.25, gold futures are up 0.3% at 1353.20 per oz, and the CBOE Volatility Index (VIX) is down 0.5% at 15.17 -- hovering near a five-week low.

In U.S. corporate news:

IBM (IBM 152.47, -8.44): -5.3% after lower-than-expected guidance overshadowed above-consensus earnings and revenues for Q1.
Morgan Stanley (MS 54.60, +1.36): +2.6% after reporting better-than-expected earnings for Q1.
CSX (CSX 59.01, +2.44): +4.3% after reporting better-than-expected earnings and revenues for Q1.
eBay (EBAY 43.25, +2.64): +6.5% after shares were upgraded to 'Overweight' from 'Underweight' at Morgan Stanley.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a higher note. Japan's Nikkei +1.4%, Hong Kong's Hang Seng +0.7%, China's Shanghai Composite +0.8%, India's Sensex -0.2%.
In economic data:
China's March House Prices +4.9% year-over-year (last 5.2%)
Japan's March trade surplus JPY120 billion (expected surplus of JPY100 billion; last deficit of JPY210 billion). March Imports -0.6% year-over-year (expected 5.4%; last 16.6%) and March Exports +2.1% year-over-year (expected 4.7%; last 1.8%)
Australia's MI Leading Index -0.2% month-over-month (last 0.4%)
In news:
The People's Bank of China announced that the reserve requirement ratio will be cut by 100 basis points on April 25. The current reserve requirement ratio for large banks is at 17.0% and 15.0% for smaller banks. China's 10-yr yield fell seven basis points to 3.61%, its lowest level in nine months.
Hong Kong Monetary Authority bought HKD5.10 billion to defend the currency peg.
U.S. President Donald Trump confirmed that Mike Pompeo, who has been nominated for Secretary of State, met with North Korea's Supreme Leader Kim Jong-un. Mr. Trump expressed his support for North and South Korea to continue talking about a potential unification.

Major European indices trade mostly higher while Germany's DAX (-0.1%) underperforms. UK's FTSE +0.9%, France's CAC +0.4%.
In economic data:
Eurozone March CPI +1.0% month-over-month, as expected (last 0.2%); +1.3% year-over-year (consensus 1.4%; last 1.4%). March core CPI +1.0% year-over-year, as expected (last 1.0%); +1.4% year-over-year, as expected (last 0.4%)
UK's March CPI +0.1% month-over-month (expected 0.3%; last 0.4%); +2.5% year-over-year (consensus 2.7%; last 2.7%). Input PPI -0.1% month-over-month (expected 0.3%; last -0.4%) and Output PPI +0.2% month-over-month (expected 0.1%; last 0.0%). March Core CPI +2.3% year-over-year (expected 2.5%; last 2.4%). March House Price Index +4.4% year-over-year (consensus 4.8%; last 4.7%)
Italy's February Industrial New Orders -0.6% month-over-month (last -4.6%); +3.4% year-over-year (last 9.6%). February Industrial Sales +0.5% month-over-month (last -2.9%); +3.4% year-over-year (last 5.3%)
In news:
German Chancellor Angela Merkel is scheduled to visit the White House on April 27.
British Prime Minister Theresa May is facing more discord within her government. Reports suggest that the House of Lords may have enough votes to pass a proposal to keep Britain in the customs union after the completion of Brexit.
In Italy, President Sergio Mattarella is expected to ask Senate Speaker Maria Casellati to attempt forming a parliamentary majority.

07:31AM ET
[BRIEFING.COM] S&P futures vs fair value: +10.80. Nasdaq futures vs fair value: +30.30.

06:59AM ET
[BRIEFING.COM] S&P futures vs fair value: +7.30. Nasdaq futures vs fair value: +22.80.

06:59AM ET
[BRIEFING.COM] Nikkei...22158...+310.60...+1.40%. Hang Seng...30284.25...+221.50...+0.70%.

06:59AM ET
[BRIEFING.COM] FTSE...7279.60...+53.60...+0.70%. DAX...12580.35...-5.20...0.00%.

04:25PM ET

[BRIEFING.COM] Stocks climbed for the second straight session on Tuesday, as investors turned their attention from geopolitical tensions to Q1 corporate earnings -- which have been largely upbeat thus far. The tech-heavy Nasdaq Composite was particularly strong, adding 1.7%, while the S&P 500 and the Dow finished with respective gains of 1.1% and 0.9%.

All three major indices closed above their 50-day moving averages -- which none of them had done since March 21 or earlier.

Big earnings names included Netflix (NFLX 336.06, +28.28), Goldman Sachs (GS 253.63, -4.25), Johnson & Johnson (JNJ 130.54, -1.22), and UnitedHealth (UNH 238.55, +8.23), all of which reported better-than-expected first quarter profits. Shares of Netflix soared 9.2% -- hitting a new all-time high -- after the streaming media giant crushed its subscriber growth estimates (+7.4 million actual vs +6.5 million estimates) and raised its guidance for Q2. UnitedHealth shares also advanced, adding 3.6%, while shares of Johnson & Johnson and Goldman Sachs declined 0.9% and 1.7%, respectively.

Goldman Sachs' performance was particular disheartening considering the company soundly beat both profit and revenue estimates for the first quarter. Financial giants JPMorgan Chase (JPM 110.21, 0.00), Wells Fargo (WFC 50.57, -0.23), Citigroup (C 69.74, -0.33), and Bank of America (BAC 30.04, +0.11) performed in a similar manner following their recent earnings beats, leaving some investors scratching their heads and others questioning the conviction behind of this recent equity rebound. The financial sector -- which typically holds a leadership position in broader market moves -- finished Tuesday at the bottom of the sector standings with a loss of 0.1%.

In addition to Goldman, another curve-flattening trade in the U.S. Treasury market weighed on the financial group. The yield on the benchmark 10-yr yield slid two basis points to 2.81%, while the yield on the 2-yr note climbed two basis points to 2.39%, cutting the 2s10s spread to 42 basis points. That's the lowest the 2s10s spread -- which points to the difference between what banks make on loans and what they pay on deposits -- has been since 2007 and represents a loss of 37 basis points since February 9.

However, the financial sector aside, Tuesday was a positive day on Wall Street, with advancing issues outpacing declining issues 2.7 to 1.

Netflix's upbeat earnings report helped push FAANG names higher -- Facebook (FB 168.66, +3.83), Apple (AAPL 178.24, +2.42), Amazon (AMZN 1503.83, +62.33), and Alphabet (GOOG 1074.16, +36.18) added between 1.4% and 4.3% -- which, in turn, helped push the consumer discretionary sector (+1.9%), which houses Amazon, and the technology sector (+2.0%), which houses the others, to the top of the sector standings. Tech giant Microsoft (MSFT 96.07, +1.90) also outperformed, adding 2.0%.

The CBOE Volatility Index (VIX) -- dubbed Wall Street's "fear gauge" -- dropped 10.0% on Tuesday to 14.89, which is its lowest level since early March. It's also worth noting that volume was relatively light on Tuesday, with just 720 million shares changing hands at the New York Stock Exchange; the 50-day moving average is 936 million.

Reviewing Tuesday's economic data, which included March Housing Starts and Building Permits and March Industrial Production and Capacity Utilization:

Housing starts increased to a seasonally adjusted annualized rate of 1.319 million units in March (Briefing.com consensus 1.268 million), up from a revised 1.295 million units in February (from 1.236 million). Building permits rose to a seasonally adjusted 1.354 million in March (Briefing.com consensus 1.315 million) from a revised 1.321 million in February (from 1.298 million).
The key takeaway from the report is that the monthly increases were driven entirely by multi-unit dwellings. Single-family starts were down 3.7% while single-family permits fell 5.5%, which is disappointing given the supply shortage of single-family homes.
Industrial Production increased 0.5% in March (Briefing.com consensus +0.3%), while the February reading was revised to +1.0% (from +0.9%). Meanwhile, Capacity Utilization ticked up to 78.0% (Briefing.com consensus 77.8%) from an unrevised reading of 77.7% in February.
The key takeaway from the report is that all three major industry groups played a part in driving the uptick in industrial production in March.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index and the Fed's Beige Book for March.

Nasdaq Composite: +5.5% YTD
Russell 2000: +2.9% YTD
S&P 500: +1.2% YTD
Dow Jones Industrial Average: +0.3% YTD

Dow: +213.59… | Nasdaq: +124.81… | S&P: +28.55…
NASDAQ Adv/Dec 1995/937. …NYSE Adv/Dec 2140/784.

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

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

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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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