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 Post subject: April 20th Friday Price Action Trade Result - No Trades
PostPosted: Fri Apr 20, 2018 7:37 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3136
Location: Canada
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Price Action Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm & http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Users Reviews, Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Review of TheStrategyLab: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167 & http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Telephone: +1 708 572-4885
wrbanalysis@gmail.com (24/7)
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Twitter @ http://twitter.com/wrbtrader (24/7)

Quote:
No trades today for me because I needed another rest day. 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=2803

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 04:30PM ET
Dow: -201.95… | Nasdaq: -91.93… | S&P: -22.99…
NASDAQ Vol: 1.86 bln… Adv: 1079… Dec: 1810…
NYSE Vol: 921.2 mln… Adv: 979… Dec: 1960…

Moving the Market

Apple (AAPL) weighs following cautious commentary from analysts about iPhone demand

Financials outperform as yield curve steepens; Wells Fargo (WFC) particularly strong after agreeing to pay $1 billion to settle loan abuse allegations

S&P 500 drops below its 50-day moving average (2687)

Sector Watch
Strong: Financials, Industrials, Energy
Weak: Technology, Consumer Staples

04:30PM ET

[BRIEFING.COM] Stocks retreated for the second day in a row on Friday, with shares of tech giant Apple (AAPL 165.72, -7.08, -4.1%) falling sharply. The S&P 500 lost 0.9%, the Dow Jones Industrial Average dropped 0.8%, and the tech-heavy Nasdaq Composite declined 1.3%, but all three major averages managed to maintain modest gains for the week.

Friday's selling was broad-based, with 10 of 11 S&P 500 sectors finishing in the red. The technology (-1.5%) and consumer staples (-1.7%) groups were the worst-performing sectors, while the financial space (+0.1%) finished at the top of the sector standings with a slim gain. Stocks were modestly lower at the opening bell, but selling accelerated after the S&P 500 breached its 50-day moving average (2687). The major averages finished a step above their session lows thanks to a late rally.

Apple led the tech sector lower on Friday, with its shares dropping 4.1%, following cautious commentary from analysts, who warned that iPhone sales could slow in the coming months. These concerns flowed from the weak guidance that Taiwan Semi (TSM 38.95, -0.58, -1.5%) gave on Thursday, which was attributed, in part, to softer smartphone demand. Apple shares did find some support at their 200-day moving average though, closing right on top of the key technical level.

Meanwhile, in the financial sector, shares of Wells Fargo (WFC 52.56, +1.02) had a positive showing, rallying 2.0%, after the big bank agreed to pay $1 billion to settle loan abuse allegations. Wells Fargo's positive performance helped underpin the financial group, but a steepening of the yield curve was likely the more influential factor; the 2s10s spread ticked up two basis points to 51 basis points -- up from 42 basis points on Tuesday. The benchmark 10-yr yield ended four basis points higher at 2.95% -- its highest level in more than four years.

On the earnings front, shares of General Electric (GE 14.54, +0.55) jumped 3.9% after the Dow component reported better-than-expected earnings and revenues for the first quarter and reaffirmed its guidance for fiscal year 2018. Shares of fellow industrial giant Honeywell (HON 150.57, +2.44) also climbed following upbeat Q1 results, adding 1.7%.

In politics, the Democratic National Committee filed a lawsuit on Friday against the Russian government, the Trump campaign, and the WikiLeaks organization, alleging that they conspired to tilt the 2016 presidential election in Mr. Donald Trump's favor. The news had a negligible impact on trading.

Investors didn't receive any economic data on Friday.

Nasdaq Composite: +3.5% YTD
Russell 2000: +1.9% YTD
S&P 500: -0.1% YTD
Dow Jones Industrial Average: -1.0% YTD

Week In Review: Holding On

The U.S. stock market notched its second consecutive weekly advance this week, but big losses on Thursday and Friday left a bad taste in investors' mouths going into the weekend. The S&P 500 added 0.5% this week, while the Dow Jones Industrial Average and the Nasdaq Composite climbed 0.4% and 0.6%, respectively.

Wall Street kicked off the week on a positive note, breathing a sigh of relief after a U.S.-led strike on Syria over the weekend -- which was in response to a suspected chemical attack from the Syrian government on the rebel-held town of Douma -- turned out to be less dramatic than many had feared. Russian President Vladimir Putin -- who supports Syrian President Bashar al-Assad -- condemned the attack, saying additional strikes could invite chaos in global affairs, but made no mention of a military response to this particular incident -- leading investors to believe that the dust has settled for now.

The bullish bias carried over into Tuesday's session, as investors turned their attention to the earnings front. Netflix (NFLX) soared nearly 10% on Tuesday, hitting a new all-time high, after crushing subscriber growth estimates for the first quarter and issuing upbeat guidance for Q2. Goldman Sachs (GS) had a blow-out first quarter, easily beating both earnings and revenue estimates, but its shares struggled to advance on Tuesday, putting the investment bank on a long list of financial names that have failed to rally on upbeat results.

Stocks moved higher once again on Wednesday, but only modestly so, as IBM (IBM) weighed on investor sentiment. Shares of the tech giant tumbled 7.5% in the midweek session after the company's above-consensus first quarter profits and revenues were overshadowed by 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. Meanwhile, energy shares outperformed as crude oil futures returned to their highest level in more than three years.

On Thursday, the market registered its first loss of the week, with consumer staples shares pacing the retreat. Shares of tobacco giant Philip Morris (PM) plunged 15.6% after the company reported a decline in cigarette shipment volume for the first quarter and slower-than-expected growth for its IQOS product -- which heats tobacco instead of burning it. Meanwhile, Apple supplier Taiwan Semi (TSM) led a broad tech retreat after its first quarter earnings and revenues came in below estimates; the chipmaker also lowered its guidance for Q2.

Wall Street ended the week with another disappointing performance on Friday. The technology sector showed relative weakness once again, with its top component by market cap -- Apple (AAPL) -- sliding 4.1% after several analysts raised concerns about the prospect of iPhone sales being weaker than expected. Financials provided some relief though. Financial giant Wells Fargo (WFC) was particularly strong, adding 2.0%, after agreeing to pay $1 billion to settle loan abuse allegations.

In the end, seven S&P sectors finished with weekly gains, while four finished with weekly losses. The energy group (+2.6%) was the top-performing group, as WTI crude futures advanced 1.5% over five sessions, closing Friday at $68.38 per barrel. Conversely, the consumer staples sector (-4.4%) was the worst performer by a large margin, extending its 2018 loss to 11.8%; for comparison, the S&P 500 has slipped 0.1% year to date. In general, growth-sensitive sectors outperformed defensive ones, although the top-weighted technology group (-0.2%) bucked this trend.

The yield curve ultimately steepened this week, but not before the 2s10s spread hit a 10-year low. Fed officials generally don't appear to be worried about a still low 2s10s spread -- which closed at 51 basis points on Friday -- leading the market to still believe that there will be at least three rate hikes this year in total.
Dow: -201.95… | Nasdaq: -91.93… | S&P: -22.99…
NASDAQ Adv/Dec 1079/1810. …NYSE Adv/Dec 979/1960.

03:30PM ET

[BRIEFING.COM] Commodities moved slightly lower overall today, evidenced by a 0.1% decline in the Bloomberg Commodity Index.

Energy:
May Crude Oil futures fell $0.04 (0.06%) to $68.26/barrel
May Natural Gas settled $0.08 higher (3.01%) at $2.74/MMBtu
Metals:
June gold settled today's session down $10.20 (0.76%) at $1338.4/oz
May silver settled today's session $0.01 lower (0.58%) at $17.15/oz
May copper settled $0.01 higher (0.32%) at $3.13/lb

A stronger dollar was a headwind for commodities; the U.S. Dollar Index jumped 0.5%.
Dow: -261.64… | Nasdaq: -106.59… | S&P: -29.10…
NASDAQ Adv/Dec 919/1184. …NYSE Adv/Dec 740/2145.

02:55PM ET

[BRIEFING.COM] The major averages are trading at session lows moving into the final stretch, showing losses between 0.9% and 1.3%.

All 11 S&P sectors are lower this afternoon; technology (-1.6%) and consumer staples (-1.6%) are leading the retreat, consumer discretionary (-1.0%), energy (-0.6%), materials (-0.8%), health care (-0.7%), utilities (-0.9%), and real estate (-0.6%) are roughly in line with the broader market, and industrials (-0.5%), telecoms (-0.5%), and financials (-0.2%) are showing relative strength.

Looking ahead, tech giant Alphabet (GOOG 1073.68, -14.02) is due to report its first quarter results following Monday's closing bell.
Dow: -215.62… | Nasdaq: -92.82… | S&P: -23.94…
NASDAQ Adv/Dec 986/1262. …NYSE Adv/Dec 850/2017.

02:30PM ET

[BRIEFING.COM] The major averages have held their lines since our last update.

Looking ahead, investors will receive a few notable pieces of economic data next week. Namely, March Existing Home Sales are slated for a Monday at 10 a.m. ET release (February was 5.38 M). A few more items will be released as the week moves on, but on Friday investors will turn their attention to the advance estimate for first quarter GDP which should cross at 8:30 a.m. ET alongside the Q1 Chain Deflator-Adv.

Housing ETFs ITB (U.S. Home Construction) and XHB (S&P Homebuilders SPDR ETF) trade weaker into Monday's release of Existing Home Sales. The sectors are seeing decent downside on Friday in part due to worse than 1% declines in bellwethers Lowe's (LOW 83.77, -1.11) and Mohawk (MHK 237.15, -3.83).
Dow: -197.09… | Nasdaq: -85.11… | S&P: -19.60…
NASDAQ Adv/Dec 1048/1288. …NYSE Adv/Dec 897/1970.

01:55PM ET

[BRIEFING.COM] Losses in the major averages continue to soften as the Friday session progresses into its latter half; the benchmark index shows losses of 0.7% in recent trade vs a low of 1.0%.

A reluctant casualty of a stronger dollar, gold futures gave back their (meager) weekly gains on Friday by settling down about 0.8% at $1,338.30/oz; on the week, the yellow metal lost about 0.7%. The drop in futures has gold stocks Barrick Gold (ABX 13.16, -0.16) and Randgold Resources (GOLD 80.47, -0.94) down about 1.2% apiece.

For its part, the U.S. dollar has reaped the benefits of rising yields. The US Dollar Index shows gains of 0.3% at 90.25 as the yield on the benchmark 10-yr treasury note is up about four basis points at around 2.95%.
Dow: -158.50… | Nasdaq: -71.33… | S&P: -16.67…
NASDAQ Adv/Dec 1077/1316. …NYSE Adv/Dec 962/1873.

01:40PM ET

[BRIEFING.COM] The major U.S. indices have seen a modest recovery since our last update, but still show notable losses at this time as the end of the trading week nears.

A look inside the Dow Jones Industrial Average shows that Apple (AAPL 166.09, -6.71) , IBM (IBM 145.00, -2.70), & Cisco (CSCO 43.95, -0.61) are underperforming. Apple is weighing on the Dow and entire technology complex after several analysts reduced their estimates on the tech giant.

Conversely, General Electric (GE 14.66, +0.67) is the best-performing Dow component after reporting better than feared Q1 results and reaffirming its 2018 projections.

With today's pullback, the DJIA's week-to-date gains have been narrowed to 0.5%.
Dow: -181.74… | Nasdaq: -79.84… | S&P: -21.72…
NASDAQ Adv/Dec 1029/1379. …NYSE Adv/Dec 892/1931.

01:05PM ET

[BRIEFING.COM] Stocks have given back a nice chuck of their weekly gains today in a broad-based retreat. The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average are down between 0.8% and 1.2%, with the tech-heavy Nasdaq showing particular weakness. The small-cap Russell 2000, meanwhile, has shown relative strength, losing just 0.4%.

The stock market opened today's session modestly lower, but selling accelerated after the S&P 500 crossed its 50-day moving average (2687). The major averages are currently hovering near their worst marks of the day, trimming their weekly gains to about 0.5% apiece.

10 of 11 S&P sectors are in negative territory this afternoon, with financials (+0.1%) being the lone exception. Wells Fargo (WFC 52.63, +1.09) has helped underpin the group, adding 2.1%, after agreeing to pay $1 billion to settle loan abuse allegations. A sell off in the Treasury market -- resulting in higher yields across the curve -- has also helped keep the financial group afloat. The yield on the benchmark 10-yr Treasury note is up three basis points at 2.94%, flirting with its high for the year.

On the downside, the information technology sector (-1.7%) has weighed on the broader market, with its largest component by market cap -- Apple (AAPL 165.90, -6.89) -- pacing the retreat. Shares of Apple are down 4.0%, challenging their 200-day moving average (165.52), after several analysts raised concerns about the prospect of iPhone sales being weaker than expected. Yesterday's disappointing earnings report from Apple supplier Taiwan Semi (TSM 38.94, -0.59) is also a contributing factor to today's tech slide.

The consumer staples group (-1.7%) is the worst-performing sector, while most other groups hold losses between 0.5% and 1.1%.

In earnings news, shares of General Electric (GE 14.49, +0.50) have jumped 3.6% today after the Dow component reported better-than-expected earnings and revenues for the first quarter and reaffirmed its guidance for fiscal year 2018. Fellow industrial giant Honeywell (HON 148.67, +0.54) is also in the green, up 0.4%, after beating both top and bottom line estimates for Q1 and raising its guidance for FY18.

Investors did not receive any economic data today, but they did receive word from Saudi Arabia following a meeting between OPEC and non-OPEC producers. Saudi energy minister Khalid Al-Falih said that OPEC and its allies were still a ways from reaching their goal of reducing a global supply glut. WTI crude futures are currently down 0.2% at $68.21 per barrel in volatile day of trading.
Dow: -226.13… | Nasdaq: -95.69… | S&P: -25.36…
NASDAQ Adv/Dec 982/1502. …NYSE Adv/Dec 822/2010.

12:25PM ET

[BRIEFING.COM] The major averages are drifting at session lows, with the Dow holding a loss of 0.8%.

Shares of Stanley Black & Decker (SWK 145.02, -9.55), Mattel (MAT 12.59, -0.86), and Skechers USA (SKX 30.05, -12.03) are down big today, losing 6.2%, 6.3%, and 28.6%, respectively. Losses are earnings related for Stanley and Sketchers, while Mattel's drop follows news that its CEO Margo Georgiadis has stepped down to pursue a new opportunity.

In Europe, the major indices settled Friday mixed, leaving the Euro Stoxx 50 with a weekly gain of 1.3%.
Dow: -208.08… | Nasdaq: -89.57… | S&P: -23.20…
NASDAQ Adv/Dec 1051/1485. …NYSE Adv/Dec 872/1926.

12:00PM ET

[BRIEFING.COM] The market has rebounded a bit in recent trading, but the major averages are still solidly lower at this juncture. The S&P 500 is down 0.7%.

Shares of General Electric (GE 14.53, +0.53) have jumped 3.8% in today's trade after the industrial giant reported better-than-expected earnings and revenues for the first quarter and reaffirmed its guidance for fiscal year 2018. The industrial sector is outperforming, but still shows a loss of 0.2%.

In currencies, the U.S. Dollar Index is up 0.5% today, jumping to 90.06, with the greenback adding 0.5% against the euro (1.2280), 0.4% against the British pound (1.4028), and 0.2% against the Japanese yen (107.57).
Dow: -168.96… | Nasdaq: -76.64… | S&P: -18.21…
NASDAQ Adv/Dec 1036/1534. …NYSE Adv/Dec 970/1815.

11:25AM ET

[BRIEFING.COM] Equity indices are at fresh session lows, showing losses between 0.8% and 1.1%.

The Washington Post recently reported that the Democratic National Committee has filed a lawsuit against the Russian government, the Trump campaign, and the WikiLeaks organization, alleging that they conspired to tilt the 2016 presidential election in favor of Mr. Donald Trump. Stocks dipped to new lows soon after the report's release.

Meanwhile, crude oil futures have rebounded a bit in recent trade, cutting their losses in half. WTI crude futures are currently down 0.5% at $67.48 per barrel.
Dow: -197.99… | Nasdaq: -81.92… | S&P: -21.62…
NASDAQ Adv/Dec 906/1700. …NYSE Adv/Dec 772/1992.

11:00AM ET

[BRIEFING.COM] The major averages are at session lows following a sharp sell off in recent trading. The tech-heavy Nasdaq Composite is the weakest of the three major indices with a loss of 0.8%, while the S&P 500 and the Dow Jones Industrial Average trade lower by 0.5% apiece.

10 of the 11 sectors are in the red this morning, including consumer discretionary (-0.3%), industrials (-0.1%), energy (-1.0%), materials (-0.6%), technology (-1.2%), health care (-0.5%), consumer staples (-1.0%), utilities (-0.6%), telecom services (-0.2%), and real estate (-0.5%). The financial group (+0.2%) is the lone advancer.

Wells Fargo (WFC 52.70, +1.15) is leading the financial sector higher after agreeing to pay $1 billion to settle multiple allegations of lending abuse; shares of the financial giant are up 2.3%.
Dow: -130.60… | Nasdaq: -58.39… | S&P: -14.34…
NASDAQ Adv/Dec 1031/1625. …NYSE Adv/Dec 830/1887.

10:30AM ET

[BRIEFING.COM] Commodities are modestly lower in the face of a strong Dollar index (+0.6%) this session.

Crude oil is paring recent gains this session but still on track for a weekly close at a three-year high. June crude oil futures pulled back below $68/barrel after President Trump tweeted that oil prices were artificially high, blaming OPEC. Members of OPEC and Russia are meeting in Saudi Arabia. Reports indicate supply caps will remain in place for the rest of the year and may even extend in to 2019 despite comments around depleting inventories. May WTI crude oil futures are down 0.7% at $67.81 -$0.48.

May natural gas futures +1.7% at $2.705 +$0.045 are rebounding after falling yesterday despite a draw in inventories.

Industrial metals are paring this week's gains after staging a reversal to the downside yesterday. Aluminum futures are down 2.6% and nickel futures are down 2.4%.

Precious metals are weak in as the dollar trades higher. June gold futures are down 0.8% at $1338.50 -$10.30 while May silver futures are down 0.6% at $17.14 -$0.10.

Dow: -74.06… | Nasdaq: -45.00… | S&P: -8.15…
NASDAQ Adv/Dec 1003/1633. …NYSE Adv/Dec 968/1095.

10:00AM ET

[BRIEFING.COM] Equity indices are still a tick lower this morning, with the tech-heavy Nasdaq (-0.6%) showing relative weakness.

The S&P 500 (-0.2%) has found some support at its 50-day moving average (2687) and is currently hovering right on top of the key technical level. Selling has been pretty modest thus far, but could pick up in a hurry if the S&P's 50-day MA fails to hold.

Meanwhile, U.S. Treasuries are lower today, with yields up across the curve; the benchmark 10-yr yield is up two basis points at 2.93% -- which marks its highest level since February 21.
Dow: -38.61… | Nasdaq: -47.17… | S&P: -5.96…
NASDAQ Adv/Dec 1083/1624. …NYSE Adv/Dec 1037/1541.

09:40AM ET

[BRIEFING.COM] The major averages are down in the opening minutes, showing losses between 0.2% and 0.5%.

Apple (AAPL 168.77, -4.08) is leading the top-weighted technology sector lower following a cautious note from Morgan Stanley; Apple shares are down 2.5%, and the tech group is lower by 0.6%. The energy sector is hovering alongside technology at the bottom of the sector standings as oil prices come off a three-year high.

On the flip side, the influential financial space leads with a gain of 0.3%, extending yesterday's 1.5% rally.
Dow: -34.71… | Nasdaq: -35.36… | S&P: -3.90…
NASDAQ Adv/Dec 1020/1681. …NYSE Adv/Dec 993/1533.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: -15.00.

The equity market is on course for a flattish start, as the S&P 500 futures are trading just one point above fair value.

In earnings news, shares of Dow component General Electric (GE 14.85, +0.86) are up 6.1% in pre-market trading after the industrial giant reported better-than-expected earnings and revenues for the first quarter this morning and reaffirmed its guidance for fiscal year 2018. Meanwhile, shares of Honeywell (HON 151.40, +3.27) are up 2.2% after the company beat both top and bottom line estimates and raised its guidance, but shares of Skechers USA (SKX 31.75, -10.33) are down 24.5% after the company issued disappointing guidance.

Elsewhere, U.S. Treasuries are under pressure this morning, pushing yields higher across the curve; the benchmark 10-yr yield is up two basis points at 2.93%. Meanwhile, West Texas Intermediate crude futures are down 0.7% at $67.85 per barrel, retreating from their best level in more than three years, after a meeting between OPEC and its allies ended with Saudi Arabia's energy minister saying that the oil producers were still a ways from their goal of reducing a global supply glut.

There aren't any notable economic releases scheduled for today, but Chicago Fed President Evans (non-FOMC voter) and San Francisco Fed President Williams (FOMC voter) will be speaking at 9:40 AM ET and 11:15 AM ET, respectively. Both have expounded recently on their policy views, so their comments aren't expected to have market-moving influence today.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -18.80.

The S&P 500 futures are trading one point above fair value.

Equity indices in the Asia-Pacific region ended the week on a mostly lower note. The Hong Kong Monetary Authority stayed out of the market after conducting more than ten interventions during the past week. The HKMA is looking to defend the Hong Kong dollar's peg to the U.S. dollar. Some Chinese banks have reportedly raised their interest rates on certificates of deposit in response to informal guidance from the People's Bank of China. Bank of Japan Governor Haruhiko Kuroda expressed concern that protectionism could derail economic growth in Japan.

In economic data:
Japan's March National CPI +0.9% month-over-month (last 1.0%); +1.1% year-over-year, as expected (last 1.5%). March National Core CPI +0.9% year-over-year, as expected (last 1.0%). April Reuters Tankan Index 21 (last 28). Tertiary Industry Activity Index 0.0% month-over-month (expected 0.1%; last -0.4%)

---Equity Markets---

Japan's Nikkei shed 0.1%, narrowing this week's gain to 1.8%. Takeda Pharmaceutical gave up 4.7% after Shire rejected the company's offer. SUMCO, Nitto Denko, Fanuc, Tokyo Electron, Tosoh, TDK, Sapporo Holdings, and Suzuki Motor lost between 1.0% and 3.6%.
Hong Kong's Hang Seng lost 0.9%, falling 1.3% for the week. Apple suppliers AAC Technologies and Sunny Optical Tech lost 7.3% and 5.6%, respectively. Property names like China Overseas, Swire Pacific, Sino Land, Link Reit, SHK Properties, and New World Development surrendered between 1.1% and 2.2%.
China's Shanghai Composite fell 1.5%, losing 2.8% for the week. Ningbo Joyson Electronic, Fujian Cement, Lanhai Medical Investment, Lawton Development, and Shanghai Chinafortune surrendered between 6.4% and 10.0%.
India's Sensex settled just below its flat line, but gained 2.4% for the week. Financials like Yes Bank, ICICI Bank, SBI, AXIS Bank, and IndusInd Bank lost between 0.7% and 3.0%. On the upside, Tata Consultancy jumped 6.8% after beating earnings expectations while peers Infosys and Wipro advanced 4.0% and 3.3%, respectively.

Major European indices trade in mixed fashion with Germany's DAX (-0.3%) struggling to keep pace with the rest of the pack. In Italy, Movimento 5 Stelle leader Luigi Di Maio reiterated his opposition to forming a government with Forza Italia or Fratelli d'Italia, two parties that are in the center-right coalition with Lega. Meanwhile, Lega leader Matteo Salvini said he will do everything in his power to prevent a technocrat government that would simply do the EU's bidding. Eurogroup Chief Mario Centeno said this week's Eurogroup meetings went by without a discussion about extending the Greek bailout.

Economic data was limited:
Germany's March PPI +0.1% month-over-month (expected 0.2%; last -0.1%); +1.9% year-over-year (consensus 2.0%; last 1.8%)
Spain's February trade deficit EUR2.17 billion (last deficit of EUR3.94 billion)

---Equity Markets---

Germany's DAX is lower by 0.3%. Lufthansa, Deutsche Bank, Continental, Infineon, Commerzbank, SAP, Volkswagen, and Merck show losses between 0.5% and 2.7%. On the upside, Adidas, Siemens, and BASF are up between 0.1% and 0.6%.
UK's FTSE has climbed 0.3%. Hikma Pharmaceutical leads with a gain of 4.6% while consumer names like Barratt Developments, Burberry, Imperial Brands, Compass, Unilever, and British American Tobacco have added between 0.8% and 2.0%.
France's CAC trades up 0.2%. ArcelorMittal leads, rising 1.7%, while Carrefour, Airbus, Louis Vuitton, Credit Agricole, BNP Paribas, and Societe Generale hold gains between 0.3% and 0.8%.

08:25AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -21.50.

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

Nine of the eleven sectors are higher for the week coming into today's session, with energy (+3.1%), consumer discretionary (+2.8%), industrials (+2.6%), and materials (+2.2%) being the top performers. On the flip side, consumer staples (-2.7%) is by far the weakest group, but the second-worst performer -- real estate (-0.2%) -- is also in the red.

The S&P 500 is up 1.4% week to date, which is roughly in line with the Dow (+1.3%), but a step behind the Nasdaq (+1.9%).

07:59AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: -6.30.

The U.S. equity market started the week strong, but had a disappointing outing on Thursday, giving back around a third of its weekly gain. Futures are drifting slightly higher this morning -- with the S&P 500 futures trading two points, or 0.1%, above fair value -- as the market looks to hold on for its second consecutive weekly advance; the S&P 500 is up 1.4% week to date.

Overseas, the major stock indices in Asia finished Friday on a lower note, settling the week mixed; Japan's Nikkei added 1.8% for the week, while Hong Kong's Hang Seng and China's Shanghai Composite declined 2.8% and 1.3%, respectively. Meanwhile, in Europe, the major bourses are mostly higher this morning, putting the Euro Stoxx 50 on track for a weekly gain of 1.4%.

Friday's meeting in Saudi Arabia between OPEC and non-OPEC oil producers, including Russia, concluded with a press conference in which Saudi energy minister Khalid Al-Falih said the oil producers were still a ways from reaching their target and capped production will need to continue. OPEC and its allies have been curbing production since the end of 2016, but that deal, which has already been extended several times, is currently set to expire at the end of 2018. WTI crude futures are down 0.8% at $67.77 per barrel, hovering a step below their highest level in more than three years.

Investors won't receive any economic data today, but Chicago Fed President Charles Evans and San Francisco Fed President John Williams are scheduled to speak at 9:40 AM ET and 11:15 AM ET, respectively. Mr. Williams is a voter on this year's FOMC, but Mr. Evans is not.

In U.S. corporate news:

General Electric (GE 14.70, +0.71): +5.1% after reporting better-than-expected earnings and revenues for Q1 and reaffirming its guidance for FY18.
Honeywell (HON 149.50, +1.37): +0.9% after beating both top and bottom line estimates for Q1 and raising its guidance for FY18.
Schlumberger (SLB 69.66, -0.62): -0.9% despite slightly beating earnings expectations for the first quarter.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mostly lower note. Japan's Nikkei -0.1%, Hong Kong's Hang Seng -0.9%, China's Shanghai Composite -1.5%, India's Sensex unch.
In economic data:
Japan's March National CPI +0.9% month-over-month (last 1.0%); +1.1% year-over-year, as expected (last 1.5%). March National Core CPI +0.9% year-over-year, as expected (last 1.0%). April Reuters Tankan Index 21 (last 28). Tertiary Industry Activity Index 0.0% month-over-month (expected 0.1%; last -0.4%)
In news:
The Hong Kong Monetary Authority stayed out of the market after conducting more than ten interventions during the past week. The HKMA is looking to defend the Hong Kong dollar's peg to the U.S. dollar.
Some Chinese banks have reportedly raised their interest rates on certificates of deposit in response to informal guidance from the People's Bank of China.
Bank of Japan Governor Haruhiko Kuroda expressed concern that protectionism could derail economic growth in Japan.

Major European indices trade in mixed fashion with Germany's DAX (-0.1%) struggling to keep pace with the rest of the pack. UK's FTSE +0.5%, France's CAC +0.5%.
In economic data:
Germany's March PPI +0.1% month-over-month (expected 0.2%; last -0.1%); +1.9% year-over-year (consensus 2.0%; last 1.8%)
Spain's February trade deficit EUR2.17 billion (last deficit of EUR3.94 billion)
In news:
In Italy, Movimento 5 Stelle leader Luigi Di Maio reiterated his opposition to forming a government with Forza Italia or Fratelli d'Italia, two parties that are in the center-right coalition with Lega. Meanwhile, Lega leader Matteo Salvini said he will do everything in his power to prevent a technocrat government that would simply do the EU's bidding.
Eurogroup Chief Mario Centeno said this week's Eurogroup meetings went by without a discussion about extending the Greek bailout.

07:31AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: -7.50.

06:55AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: -5.80.

06:55AM ET
[BRIEFING.COM] Nikkei...22162...-28.90...-0.10%. Hang Seng...30418...-290.10...-0.90%.

06:55AM ET
[BRIEFING.COM] FTSE...7366.50...+37.60...+0.50%. DAX...12578.80...+11.40...+0.10%.

04:25PM ET

[BRIEFING.COM] Stocks dropped for the first time this week on Thursday, giving back around a third of their weekly gains, as investors tried to sort through the latest pile of corporate earnings. The S&P 500 declined 0.6%, closing a step above its 50-day moving average (2687), while the Dow and the Nasdaq lost 0.3% and 0.8%, respectively.

Nine of the eleven S&P 500 sectors finished Thursday in negative territory, with consumer staples (-3.1%) taking the biggest hit. Tobacco giant Philip Morris (PM 85.64, -15.80) paced the consumer staples retreat, plunging 15.6% to its lowest level since late 2015, after reporting a decline in cigarette shipment volume for the first quarter and slower-than-expected growth for its IQOS product -- which heats tobacco instead of burning it. Procter & Gamble (PG 74.95, -2.53) also weighed on the sector, losing 3.3%, despite reporting above-consensus Q1 profits.

The top-weighted technology sector (-1.1%) finished a ways up from consumer staples, but still in the lower half of the sector standings as chipmakers weighed, evidenced by a 4.3% decline in the Philadelphia Semiconductor Index. Apple supplier Taiwan Semi (TSM 39.53, -2.39) was a driver of the bearish bias, losing 5.7%, after its first quarter earnings and revenues came in below estimates; the chipmaker also lowered its guidance for Q2. News that China has concerns about Qualcomm's (QCOM 52.57, -2.66) acquisition of NXP Semi (NXPI 107.17, -5.82) also had a negative impact.

At the opposite end of the sector standings, the influential financial sector (+1.5%) had a strong outing, helped by a steepening of the yield curve and upbeat Q1 results from American Express (AXP 102.37, +7.22); AmEx beat both earnings and revenue estimates in addition to raising its guidance for FY18. As for the yield curve, the 2s10s spread, which hit a 10-year low earlier this week, increased four basis points to 49 bps. The benchmark 10-yr yield accounted for all of that gain, advancing four basis points to 2.91% -- its highest level in eight weeks.

The energy sector was also relatively strong, adding 0.1%, even though WTI crude futures gave back all of a 1.6% intraday advance (and then some), closing lower by 0.2% at $68.30 per barrel. A stronger dollar weighed on the commodity, which -- despite Thursday's downtick -- is still hovering near its highest level in more than three years. The U.S. Dollar Index advanced 0.3% to 89.61 -- its highest level in more than a week -- with the greenback's most notable move coming against the British pound; the GBP/USD dropped 0.8% to 1.4092.

A Bloomberg report, which claims that Deputy Attorney General Rod Rosenstein told President Donald Trump last week that he isn't a target of any part of Special Counsel Robert Mueller's investigation, helped equities pair some of their losses ahead of the closing bell. Volume was light once again though, with just 754 million shares changing hands at the New York Stock Exchange.

Reviewing Thursday's economic data, which included the weekly Initial Claims report, the Philadelphia Fed Index for April, and the Conference Board's Leading Economic Index for March:

The latest weekly initial jobless claims count totaled 232,000, while the Briefing.com consensus expected a reading of 226,000. Today's tally was below the unrevised prior week count of 233,000. As for continuing claims, they declined to 1.863 million from a revised count of 1.878 million (from 1.871 million).
The key takeaway from this report is that it covered the period in which the survey for the April employment report was conducted, so it will fuel expectations for a strong gain in nonfarm payrolls.
The Philadelphia Fed Survey for April rose to 23.2 (Briefing.com consensus 21.0) from an unrevised 22.3 in March.
The key takeaway from this report is that there was a notable uptick in the Prices Paid Index (from 42.6 to 56.4), as well as the Prices Received Index (from 20.7 to 29.8), which will pique interest about budding inflation pressure.
The Conference Board Leading Economic Index increased 0.3% in March (Briefing.com consensus +0.4%). The prior month's reading was revised to +0.7% from +0.6%.
The key takeaway from the report is that the 4.3% growth rate for the index for the six-month period ending March 2018 was much faster than the 1.9% growth rate over the previous six months.

Investors will not receive any economic data on Friday.

Nasdaq Composite: +4.9% YTD
Russell 2000: +2.5% YTD
S&P 500: +0.7% YTD
Dow Jones Industrial Average: -0.2% YTD

Dow: -83.18… | Nasdaq: -57.18… | S&P: -15.51…
NASDAQ Adv/Dec 1070/1831. …NYSE Adv/Dec 905/2004.

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

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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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