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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: May 1st Tuesday Price Action Trade Result - No Trades
PostPosted: Tue May 01, 2018 9:49 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Price Action Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm & http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Users Reviews, Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Review of TheStrategyLab: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167 & http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Telephone: +1 708 572-4885
wrbanalysis@gmail.com (24/7)
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Quote:
No trades today for me today. It was just one of those days I just didn't feel like trading...I get a few of these types of moods per month. Yet, I need to be very careful not to do the newbie psychological thing via reviewing what I missed...setting me up for poor trading habits the next trading day. This is an issue I see in a few trade journals by other traders here at the free forum @ 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=180&t=2812

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.

Quote:
These real-time 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.

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

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: -64.10… | Nasdaq: +64.44… | S&P: +6.75…
NASDAQ Vol: 1.91 bln… Adv: 1676… Dec: 1134…
NYSE Vol: 807.1 mln… Adv: 1554… Dec: 1358…

Moving the Market

Top-weighted technology sector rallies ahead of Apple (AAPL) earnings

White House extends deferral of steel and aluminum tariffs for Mexico, Canada, and the EU; permanent exemptions for Argentina, Brazil, and Australia

Energy shares lag amid a decline in the price of crude oil

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

04:30PM ET

[BRIEFING.COM] Strength in technology shares carried the broader market to a modest victory on Tuesday, leaving the major averages at their best marks of the day. The S&P 500 added 0.3%, the tech-heavy Nasdaq rallied 0.9%, and the small-cap Russell 2000 jumped 0.6%. The Dow underperformed, however, losing 0.3%.

The major averages extended opening losses through the first half of Tuesday's session, with the S&P 500 losing as much as 0.9%. However, things turned around in the afternoon as the technology sector (+1.5%) rallied ahead of Apple's (AAPL 169.10, +3.84) latest earnings report -- which was due after the closing bell. Apple shares ended the session higher by 2.3%, and shares of other tech giants like Microsoft (MSFT 95.00, +1.48) and Alphabet (GOOG 1037.31, +19.98) added more than 1.5% apiece. Chipmakers also outperformed, pushing the PHLX Semiconductor Index higher by 1.7%.

Four other sectors finished Tuesday in positive territory, including financials (+0.1%), consumer discretionary (+0.2%), health care (unch), and real estate (+0.7%). The health care group was able to overcome a negative reaction to earnings reports from Pfizer (PFE 35.40, -1.21) and Merck (MRK 57.98, -0.89); Pfizer shares lost 3.3% after the company reported upbeat earnings on worse-than-expected revenues, and Merck shares declined 1.5% even though the company beat earnings estimates on in-line revenues and raised its guidance for fiscal year 2018.

On the downside, six sectors finished Tuesday in the red, with telecom services (-0.8%), consumer staples (-0.9%), industrials (-0.5%), and energy (-0.6%) leading the retreat. Energy shares struggled as crude oil prices pulled back from their highest levels in more than three years; West Texas Intermediate crude futures declined 1.8% to $67.28 per barrel.

In the bond market, U.S. Treasuries ended Tuesday on a lower note, pulling back after three days of gains. The yield on the benchmark 10-yr Treasury note finished four basis points higher at 2.98%, but saw limited intraday movement -- which makes sense considering the Fed will release its latest policy directive on Wednesday at 2:00 PM ET. Meanwhile, the jump in yields increased dollar demand, evidenced by the U.S. Dollar Index, which climbed 0.7% to 92.30 -- its highest level of the calendar year.

In Washington, President Trump delayed the imposition of steel and aluminum tariffs on the European Union, Canada, and Mexico by 30 days, and reached permanent exemptions for Australia, Brazil, and Argentina -- although the details still need to be worked out.

Reviewing Tuesday's economic data, which was limited to the ISM Index for April and Construction Spending for March:

The ISM Index for April declined to 57.3 from an unrevised reading of 59.3 in March, while the Briefing.com consensus expected a reading of 58.5.
The key takeaway from the report is that it is an April number, reflecting some growth deceleration for the manufacturing sector at the start of the second quarter which will continue to feed concerns about the message of a flattening yield curve.
Construction Spending dropped 1.7% in March, while the Briefing.com consensus expected an increase of 0.5%. The prior month's increase was revised to 1.0% from 0.1%.
The key takeaway from the report is that construction spending growth continues to run at a relatively slow pace, which is an inhibitor of stronger overall growth.

On Wednesday, the Fed's latest policy directive will cross the wires at 2:00 PM ET. In addition, investors will receive the weekly MBA Mortgage Applications Index at 7:00 AM ET and the ADP Employment Change report for April (Briefing.com consensus 225K) at 8:15 AM ET.

Nasdaq Composite: +3.3% YTD
Russell 2000: +1.0% YTD
S&P 500: -0.7% YTD
Dow Jones Industrial Average: -2.5% YTD

Dow: -64.10… | Nasdaq: +64.44… | S&P: +6.75…
NASDAQ Adv/Dec 1676/1134. …NYSE Adv/Dec 1554/1358.

03:35PM ET
[BRIEFING.COM]

Commodities finishing the day lower
The Bloomberg Commodity Index is closing out the day -0.25% at 89.37
Among energy...
June WTI crude oil futures settled $1.25 lower at $67.28/barrel
June natural gas futures settled $0.04 higher at $2.80/MMBtu
Looking at metals...
June gold futures fell $12.50 to $1306.90/oz, while June silver futures lost $0.27 to $16.14/oz
June copper futures settled $0.03 lower at $3.04/lb

Dow: -157.93… | Nasdaq: +41.16… | S&P: -2.53…
NASDAQ Adv/Dec 1457/1322. …NYSE Adv/Dec 1372/1537.

03:00PM ET

[BRIEFING.COM] The S&P 500 touched positive territory for the first time today in recent trading and holds a loss of just 0.1% moving into the final stretch.

Still, nine of eleven S&P sectors are in the red, including financials (-0.1%), consumer discretionary (-0.2%), industrials (-0.6%), energy (-0.8%), materials (-0.4%), health care (-0.3%), consumer staples (-1.0%), utilities (-0.2%), and telecom services (-0.9%). Real estate (+0.6%) and technology (+0.9%) are the only two groups in the green.

Technology is being helped by Apple (AAPL 167.89, +2.61), which is up 1.6% ahead of tonight's earnings release. Other tech giants like Microsoft (MSFT 94.90, +1.40), Alphabet (GOOG 1030.67, +13.11), and Intel (INTC 52.97, +1.35) have also provided a helping hand, adding between 1.4% and 2.6% apiece.
Dow: -107.16… | Nasdaq: +36.88… | S&P: -0.24…
NASDAQ Adv/Dec 1398/1446. …NYSE Adv/Dec 1402/1492.

02:30PM ET

[BRIEFING.COM] Paring losses, the S&P 500 joins the Nasdaq Composite near session highs. At this juncture the benchmark index shows losses of 0.2% vs the 0.9% at today's lows while the Nasdaq is now up nearly 0.4%.

Auto names are broadly weaker today due in part to some underwhelming sales numbers out of big names. Honda (HMC 33.87, -0.49, -1.4%), Toyota (TM 130.69, -0.29, -0.2%), and Ford (F 11.20, -0.03, -0.3%) all reported sales declines in April as the industry gears up for the summer months. General Motors (GM 36.26, -0.47, -1.3%), which ceased releasing monthly reports as of last month, underperforms the broader market.

The lone name in the green is India-based Tata Motors (TTM 25.23, +0.11, +0.4%). The Jaguar Land Rover owner reported an April U.S. sales increase of 86% year-over-year to 53,511 units. Also seeing a stark move in sales (in this case, to the downside) Japanese-based Nissan (NSANY 20.80, -0.25, -1.2%) saw U.S. sales dip more than 28% in April to 87,764 units as sales of the perennial powerhouse model Altima saw sales almost cut in half compared to the prior year. Also contributing to the weakness was a lackluster April for the Rogue.

In a broader sense, trading in the First Trust Nasdaq Global Auto Index (CARZ 40.88, -0.41, -1.0%) has been weighed by the weaker session out of its blue chip constituents.
Dow: -181.13… | Nasdaq: +30.67… | S&P: -6.04…
NASDAQ Adv/Dec 1305/1530. …NYSE Adv/Dec 1260/1626.

02:00PM ET

[BRIEFING.COM] The Nasdaq Composite just made a HoD while both the S&P 500 and the Dow Jones Industrial Average move higher in tow. The Nasdaq now shows gains of 0.2% on the day vs its 0.4% losses at today's lows. Action in the tech-heavy index has ramped in recent trade as Facebook (FB 171.23, -0.77, -0.5%) CEO Mark Zuckerberg continues to speak at this year's F8 Developer Conference.

Gold futures begin the month of May much like they ended the month of April...on a down note. After a 0.3% loss yesterday, gold extended its losses with a decline of 0.9% today by settling at $1306.80/oz, a two-month low.

Meanwhile, the dollar displays relative strength against a number of currencies. The greenback posts 0.6% gains against the euro (1.2000), a 1.1% advance against the pound (1.3620), and adds 0.4% against the yen (109.69).
Dow: -268.69… | Nasdaq: +12.23… | S&P: -18.24…
NASDAQ Adv/Dec 1125/1700. …NYSE Adv/Dec 1093/1785.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to drift lower since the opening bell with stocks hitting fresh session lows in recent trading.

A look inside the Dow Jones Industrial Average shows that Pfizer (PFE 35.06, -1.55), Merck & Co. (MRK 56.91, -1.96), & McDonald's (MCD 162.35, -5.09) are underperforming. Pfizer & Merck are selling off following their respective quarterly reports, while McDonald's is seeing profit taking in the wake of yesterday's 6% earnings-driven rally.

Conversely, Intel (INTC 52.33, +0.711) is the best-performing Dow component as shares display relative strength, recovering from yesterday's pullback. Helping shares, reports out overnight suggest that the company is poised to receive a $380 mln grant from Israel to expand local chip manufacturing in the country.

Starting off the month with losses of 1.4%, the DJIA is currently down 3.6% this year.
Dow: -336.20… | Nasdaq: -14.66… | S&P: -20.18…
NASDAQ Adv/Dec 917/1910. …NYSE Adv/Dec 901/1965.

12:55PM ET

[BRIEFING.COM] Stocks are down for the second straight session today, but technology shares are showing relative strength ahead of Apple's (AAPL 167.95, +2.69) earnings results -- which will be released following the closing bell. The tech-heavy Nasdaq is flat, while the S&P 500 and the Dow are lower by 0.5% and 1.0%, respectively.

Nine of eleven S&P sectors are trading in the red, with losses ranging between 0.2% and 1.2%. Industrials (-1.2%), energy (-1.2%), materials (-1.1%), and consumer staples (-1.2%) are at the very bottom of the sector standings. Energy is down amid a decline in the price of crude oil, which finished yesterday near its highest level in more than three years; WTI crude futures are down 1.3% at $67.67 per barrel.

Meanwhile, the health care sector has held up relatively well, losing just 0.4%, despite a negative reaction to earnings reports from Pfizer (PFE 35.05, -1.55) and Merck (MRK 57.23, -1.63). Pfizer shares are down 4.3% after the company beat earnings estimates on lower-than-expected revenues, and Merck shares are down 2.8% despite the company's better-than-expected earnings on in-line revenues.

On a positive note, the top-weighted technology sector (+0.3%) and the lightly-weighted real estate sector (unch) are in the green. Within the tech space, Apple shares are up 1.6% ahead of tonight's earnings release, while shares of other tech giants like Microsoft (MSFT 93.95, +0.43), Alphabet (GOOG 1022.09, +4.76), and Intel (INTC 52.33, +0.71) are up between 0.5% and 1.3%.

In the bond market, U.S. Treasuries have slid today, pushing yields higher across the curve; the benchmark 10-yr yield is up two basis points at 2.96%. The higher yields have helped underpin the U.S. dollar, evidenced by the U.S. Dollar Index, which is up 0.6% at 92.15 -- challenging its highest level of the calendar year.

In Washington, President Trump has delayed the imposition of steel and aluminum tariffs on the European Union, Canada, and Mexico for another 30 days (to June 1), and has reached permanent exemptions for Australia, Brazil, and Argentina -- although the details still need to be worked out.

Overseas, many markets in Europe and Asia were closed today in celebration Labor Day, but the UK's FTSE and Japan's Nikkei added 0.2% apiece.

Reviewing today's economic data, which was limited to the ISM Index for April and Construction Spending for March:

The ISM Index for April declined to 57.3 from an unrevised reading of 59.3 in March, while the Briefing.com consensus expected a reading of 58.5.
The key takeaway from the report is that it is an April number, reflecting some growth deceleration for the manufacturing sector at the start of the second quarter which will continue to feed concerns about the message of a flattening yield curve.
Construction Spending dropped 1.7% in March, while the Briefing.com consensus expected an increase of 0.5%. The prior month's increase was revised to 1.0% from 0.1%.
The key takeaway from the report is that construction spending growth continues to run at a relatively slow pace, which is an inhibitor of stronger overall growth.

Dow: -283.13… | Nasdaq: -6.64… | S&P: -15.32…
NASDAQ Adv/Dec 989/1835. …NYSE Adv/Dec 941/1925.

12:30PM ET

[BRIEFING.COM] Stocks are near their lowest marks of the day moving into the afternoon, with the S&P 500 down 0.6%.

Under Armour (UAA 17.16, -0.60) and Hanesbrands (HBI 17.30, -1.17) are down 3.5% and 6.3%, respectively, after reporting their quarterly results; both companies beat top and bottom line estimates, but Hanesbrands lowered its profit guidance for the second quarter. The consumer discretionary sector (-0.8%) is a step behind the broader market.

In Europe, most markets were closed due to Labor Day. The UK was open for business though, with its FTSE adding 0.2%.
Dow: -255.93… | Nasdaq: -0.58… | S&P: -13.44…
NASDAQ Adv/Dec 967/1841. …NYSE Adv/Dec 930/1923.

12:00PM ET

[BRIEFING.COM] The Dow Jones Industrial Average is the weakest of the three major indices, down 1.1% -- which is double the S&P 500's decline.

Pfizer (PFE 34.68, -1.92) and Merck (MRK 57.24, -1.63) are the weakest components within the Dow -- showing losses of 5.3% and 2.7%, respectively -- after reporting their quarterly results early this morning. Pfizer beat earnings estimates on below-consensus revenues, while Merck beat earnings estimates on in-line revenues. The S&P's health care sector, which houses both names, is trading roughly in line with the broader market, showing a loss of 0.5%.

In currencies, the U.S. Dollar Index is up 0.6% at 92.21, hitting its highest level of the calendar year. Including today's rally, the U.S. Dollar Index has advanced in nine of the last eleven sessions.
Dow: -282.11… | Nasdaq: -16.80… | S&P: -15.99…
NASDAQ Adv/Dec 893/1914. …NYSE Adv/Dec 883/1957.

11:30AM ET

[BRIEFING.COM] The major averages are trading near recent levels, with the S&P 500 down 0.5%.

West Texas Intermediate crude futures are down 1.3% today at $67.71 per barrel, retreating from the more than three-year high they hit last week. The decline in crude prices follows commentary from BP's (BP 44.72, +0.10) CFO, who said he thinks oil prices feel a bit frothy and could see a correction. The energy sector is down 1.1%.

In the bond market, U.S. Treasuries have extended their earlier losses, pushing yields even higher across the curve; the benchmark 10-yr yield is up three basis points at 2.97%, while the 2-yr yield is also up three basis points, hovering at 2.51%.
Dow: -266.79… | Nasdaq: -7.94… | S&P: -13.98…
NASDAQ Adv/Dec 828/1958. …NYSE Adv/Dec 806/2023.

11:00AM ET

[BRIEFING.COM] Equity indices are trading in negative territory. The Nasdaq did touch the green earlier, but is now down 0.1%, while the S&P 500 and the Dow show respective losses of 0.5% and 1.1%.

Nine S&P sectors are in the red, including financials (-0.4%), consumer discretionary (-0.6%), industrials (-1.3%), energy (-1.6%), materials (-1.3%), health care (-0.3%), consumer staples (-1.1%), utilities (unch), and telecoms (-0.5%), while two are in the green -- technology (+0.4%) and real estate (unch).

Apple (AAPL 167.40, +2.14) has helped push the tech group higher, adding 1.3% ahead of tonight's earnings release. Meanwhile, chipmaker Intel (INTC 52.45, +0.83) is also up big, adding 1.6%, and both Microsoft (MSFT 93.86, +0.36) and Alphabet (GOOG 1020.13, +2.60) are sporting modest gains.
Dow: -274.49… | Nasdaq: -9.84… | S&P: -14.30…
NASDAQ Adv/Dec 786/1967. …NYSE Adv/Dec 731/2058.

10:35AM ET
[BRIEFING.COM]

Commodities are beginning the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.5% at 89.19
Dollar index is currently +0.75% at 92.32
Looking at energy...
June WTI crude oil futures are now -$1.10 at $67.47/barrel
In other energy, May natural gas is +$0.04 at $2.81/MMBtu
Moving on to metals...
June gold is currently -$13.60 at $1305.60/oz, while May silver is -$0.22 at $16.18/oz
May copper is now -$0.04 at $3.03/lb

Dow: -239.41… | Nasdaq: +2.19… | S&P: -9.46…
NASDAQ Adv/Dec 865/1722. …NYSE Adv/Dec 825/1937.

10:00AM ET

[BRIEFING.COM] Equity indices are still a tick lower, with the Dow (-0.6%) showing particular weakness.

Just in, the ISM Index for April declined to 57.3 from an unrevised reading of 59.3 in March, while the Briefing.com consensus expected a reading of 58.5.

Separately, Construction Spending dropped 1.7% in March, while the Briefing.com consensus expected an increase of 0.5%. The prior month's increase was revised to 1.0% from 0.1%.
Dow: -149.27… | Nasdaq: -4.02… | S&P: -5.80…
NASDAQ Adv/Dec 821/1853. …NYSE Adv/Dec 902/1779.

09:40AM ET

[BRIEFING.COM] The major averages are modestly lower in the opening minutes, down between 0.1% and 0.5%.

Most S&P sectors are in negative territory, with energy (-0.8%) and materials (-0.8%) setting the pace. The industrials (-0.5%) and consumer staples (-0.6%) sectors also show relative weakness, while the health care (+0.1%), telecom services (+0.2%), and real estate (+0.3%) groups show relative strength.

As a reminder, the ISM Index for April (Briefing.com consensus 58.5) and Construction Spending for March (Briefing.com consensus +0.5%) will be released at 10:00 AM ET.
Dow: -164.47… | Nasdaq: -26.30… | S&P: -10.09…
NASDAQ Adv/Dec 763/1846. …NYSE Adv/Dec 803/1787.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -14.50.

The stock market is on course for a slightly lower open this morning as the S&P 500 futures are trading six points, or 0.2%, below fair value.

Dow components Pfizer (PFE 35.80, -0.81) and Merck (MRK 58.51, -0.36) are down 2.2% and 0.6%, respectively, in pre-market trading after delivering their quarterly results earlier this morning; PFE beat earnings estimates on below-consensus revenues, while Merck beat earnings estimates on in-line revenues. Apple (AAPL 166.00, +0.74) will release its results following the closing bell.

Investors are set to receive two economic reports today -- the ISM Index for April (Briefing.com consensus 58.5) and Construction Spending for March (Briefing.com consensus +0.5%) -- both of which will be released at 10:00 AM ET. In addition, U.S. auto and truck sales for April will be released throughout the day.

In Washington, President Trump has delayed the imposition of steel and aluminum tariffs on the European Union, Canada, and Mexico for another 30 days (to June 1), and has reached permanent exemptions for Australia, Brazil, and Argentina.

Overseas, most international markets are closed for Labor Day -- which will likely lead to lower-than-average volume in the U.S. session.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: -1.80.

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

Most equity indices in the Asia-Pacific region were closed for Labor Day on Monday, while Japan's Nikkei (+0.2%) reopened after Monday's holiday closure. The Reserve Bank of Australia left its cash rate at 1.50%, marking the 18th consecutive hold. Fitch commented on the exposure of Australian banks to mortgages, noting the country's big four banks, who hold AUD1.30 trillion in mortgages, could withstand an Irish-type correction, but their ability to deal with second-order effects is uncertain. South Korea's exports showed a year-over-year decline in April, representing the first contraction since 2016.

In economic data:
Japan's April Manufacturing PMI 53.8 (expected 53.3; last 53.3)
Australia's March Building Consents +14.7% month-over-month (last 6.4%) and April AIG Manufacturing Index 58.3 (last 63.1). Commodity Prices -1.4% year-over-year (last -2.8%)
South Korea's April trade surplus $6.60 billion (last surplus $6.80 billion. April Imports +14.5% year-over-year (expected 18.4%; last 5.2%) and April Exports -1.5% year-over-year (expected 4.1%; last 6.1%)

---Equity Markets---

Japan's Nikkei added 0.2%. Okuma, Konami, NGK Insulators, Fanuc, Fast Retailing, Alps Electric, and Familymart gained between 1.4% and 8.3%. On the downside, Yahoo Japan, TOTO, Sony, and SUMCO lost between 3.2% and 14.4%.
Hong Kong's Hang Seng was closed for Labor Day
China's Shanghai Composite was closed for Labor Day
India's Sensex was closed for Maharashtra

Most European markets are closed, as the region celebrates vestiges of its communist past by observing Labor Day. The UK's FTSE, however, is open for action. The House of Lords voted in favor of stopping a 'hard Brexit' if British negotiators fail to secure a deal with their EU counterparts. Overnight, President Trump announced that the imposition of steel and aluminum tariffs on the European Union will be delayed by another month, allowing more time for negotiations. A Greek growth strategy document shows that the country expects to generate growth of at least 2.0% over the medium term while maintaining a primary surplus of 3.5%.

In economic data:
UK's March Mortgage Lending GBP3.97 billion (expected GBP3.60 billion; last GBP3.89 billion) and Mortgage Approvals 62,910 (expected 63,000; last 63,780). March M4 Money Supply -1.4% month-over-month (expected 0.2%; last -0.4%). April Manufacturing PMI 53.9 (expected 54.9; last 54.9).

---Equity Markets---

UK's FTSE is higher by 0.5%. Select consumer names and financials are among the leaders with ITV, Paddy Power, Barratt Developments, Prudential, Aviva, Direct Line Insurance, and HSBC are up between 0.6% and 1.6%.
Germany's DAX is closed
France's CAC is closed


08:25AM ET
[BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -7.50.

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

With the first four months of 2018 in the books, the yearly sector standings are as follows: consumer discretionary (+5.1%), technology (+3.2%), energy (+2.1%), health care (-0.5%), financials (-1.9%), utilities (-2.2%), industrials (-4.8%), materials (-5.9%), real estate (-6.5%), telecoms (-10.7%), consumer staples (-11.9%).

The S&P 500 and the Dow are down 1.0% and 2.3% year to date, respectively, while the Nasdaq is up 2.4%.

07:59AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -2.00.

Equities are on track to open today's session on a flattish note following a disappointing outing on Monday, which left the major averages with losses between 0.6% and 0.8%.

Investors are exerting some caution this morning as the S&P 500's largest component by market cap -- Apple (AAPL) -- is set to report its quarterly results following today's closing bell, and the Federal Open Market Committee will be kicking off a two-day meeting this morning that will conclude with the release of its latest policy directive on Wednesday afternoon. That directive isn't expected to include a rate hike, but it will likely solidify the expectation for a rate hike next month and could set the stage for up to four hikes in total this year.

On the data front, investors will receive the ISM Index for April (Briefing.com consensus 58.5) and Construction Spending for March (Briefing.com consensus +0.5%); both reports will be released at 10:00 AM ET. In addition, U.S. auto and truck sales for April will be released throughout the day. U.S. Treasuries are modestly lower ahead of the data releases, pushing yields higher across the curve; the benchmark 10-yr yield is currently up two basis points at 2.96%.

Elsewhere, President Trump has delayed the imposition of steel and aluminum tariffs on the European Union, Canada, and Mexico for another 30 days (to June 1), and has reached permanent exemptions for Australia, Brazil, and Argentina. Most equity markets in Asia and Europe are closed for Labor Day.

In U.S. corporate news:

Pfizer (PFE 36.00, -0.61): -1.7% after reporting worse-than-expected revenues.
Merck (MRK 58.90, +0.03): +0.1% after reporting above-consensus earnings.

Reviewing overnight developments:

Most equity indices in the Asia-Pacific region were closed for Labor Day on Monday, while Japan's Nikkei (+0.2%) reopened after Monday's holiday closure.
In economic data:
Japan's April Manufacturing PMI 53.8 (expected 53.3; last 53.3)
Australia's March Building Consents +14.7% month-over-month (last 6.4%) and April AIG Manufacturing Index 58.3 (last 63.1). Commodity Prices -1.4% year-over-year (last -2.8%)
South Korea's April trade surplus $6.60 billion (last surplus $6.80 billion. April Imports +14.5% year-over-year (expected 18.4%; last 5.2%) and April Exports -1.5% year-over-year (expected 4.1%; last 6.1%)
In news:
The Reserve Bank of Australia left its cash rate at 1.50%, marking the 18th consecutive hold. Fitch commented on the exposure of Australian banks to mortgages, noting the country's big four banks, who hold AUD1.30 trillion in mortgages, could withstand an Irish-type correction, but their ability to deal with second-order effects is uncertain.
South Korea's exports showed a year-over-year decline in April, representing the first contraction since 2016.

Most European markets are closed, as the region celebrates vestiges of its communist past by observing Labor Day. The UK's FTSE (+0.5%), however, is open for action.
In economic data:
UK's March Mortgage Lending GBP3.97 billion (expected GBP3.60 billion; last GBP3.89 billion) and Mortgage Approvals 62,910 (expected 63,000; last 63,780). March M4 Money Supply -1.4% month-over-month (expected 0.2%; last -0.4%). April Manufacturing PMI 53.9 (expected 54.9; last 54.9).
In news:
The House of Lords voted in favor of stopping a 'hard Brexit' if British negotiators fail to secure a deal with their EU counterparts.
Overnight, President Trump announced that the imposition of steel and aluminum tariffs on the European Union will be delayed by another month, allowing more time for negotiations.
A Greek growth strategy document shows that the country expects to generate growth of at least 2.0% over the medium term while maintaining a primary surplus of 3.5%.

07:30AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +6.00.

05:56AM ET
[BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -6.80.

05:56AM ET
[BRIEFING.COM] Nikkei...22508...+40.20...+0.20%. Hang Seng...Holiday.........

05:56AM ET
[BRIEFING.COM] FTSE...7530.59...+21.30...+0.30%. DAX...Holiday.........

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

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

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

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

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

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

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

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

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


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

http://www.thestrategylab.com
Phone: +1 708 572-4885
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Skype Messenger: kebec2002
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