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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 10th Thursday Price Action Trade Result Profit $2387.50
PostPosted: Thu May 10, 2018 6:20 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
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Telephone: +1 708 572-4885
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2387.50 dollars or +47.75 points, Light Crude Oil CL ($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 @ $2387.50 dollars

Russell 2000 Emini RTY Futures: 1 tick or 0.10 = $5.00 dollars and there's more contract information @ CMEGroup (formerly as TF @ The ICE)
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=180&t=2819

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 and prior to 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 chat room or private thread discussions

The Market at 04:30PM ET
Dow: +196.99… | Nasdaq: +65.07… | S&P: +25.28…
NASDAQ Vol: 2.18 bln… Adv: 1743… Dec: 1106…
NYSE Vol: 787.7 mln… Adv: 2101… Dec: 820…

Moving the Market

Buying momentum following yesterday's breaching of the S&P 500's 50-day moving average

April CPI and core CPI come in weaker-than-expected, tempering rate-hike concerns

FAANG leadership helps fuel bullish bias; Apple (AAPL) hits fresh all-time high

Sector Watch
Strong: Health Care, Technology, Utilities, Telecom Services
Weak: Consumer Discretionary, Industrials, Consumer Staples

04:30PM ET

[BRIEFING.COM] Stocks had another strong outing on Thursday, their second in a row, lifting the S&P 500 to a nearly two-month high. The benchmark index finished the session higher by 0.9% and is now about 45 points above its 50-day moving average. The Dow and the Nasdaq also closed with comfortable gains, adding 0.8% and 0.9%, respectively, while the Russell 2000 advanced 0.5%.

The market was firing on all cylinders, with all 11 S&P sectors finishing in the green. Telecom services (+1.9%), utilities (+1.3%), health care (+1.3%), and information technology (+1.3%) led the charge, while consumer discretionary (+0.4%) lagged a bit as retailers and Amazon (AMZN 1609.08, +1.08) underperformed. The other groups settled with gains between 0.6% and 1.0%.

Within the tech space, Apple (AAPL 190.04, +2.68) -- the S&P 500's largest component by market cap -- jumped 1.4% on Thursday, securing its ninth consecutive advance and a new record high. Other tech giants -- including FAANG stocks Facebook (FB 185.53, +2.87) and Alphabet (GOOG 1097.57, +14.81) -- also showed notable strength, reminiscing last year's tech-charged rally.

Inflation data -- namely, the Consumer Price Index for April -- helped fuel buying on Thursday, coming in slightly below estimates, and thereby tempering concerns that the Fed might have to be more aggressive in its path to normalization. The weekly Initial Claims report added to that upbeat narrative, pointing to a still-humming job market.

Overseas, the Bank of England voted 7-2 in favor of keeping its official bank rate and its asset purchase program unchanged, but BoE Governor Mike Carney added that interest rates will likely go up by the end of the year. In the Middle East, Israel struck nearly all of Iran's military infrastructure in Syria overnight in response to an Iranian missile attack on Israeli-held territory.

Treasury yields moved mostly lower on Thursday as bonds advanced for the first time this week. The yield on the benchmark 10-yr Treasury note dropped below the psychologically important 3.00% mark, losing three points to finish at 2.97%. The 2-yr yield ticked higher though, closing up one basis point at 2.54%.

The S&P 500, the Dow, and the Nasdaq hold week-to-date gains between 2.0% and 2.7% going into Friday's session, on course for their best week since early March.

Reviewing Thursday's economic data, which included the April Consumer Price Index, weekly Initial Claims, and the April Treasury Budget:

Total CPI increased 0.2% (Briefing.com consensus +0.3%) in April, while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, total CPI is up 2.5% (vs +2.4% in March) and core CPI is up 2.1% (vs +2.1% in March).
The key takeaway from the report is that the CPI and core CPI headlines were weaker than expected, which helped temper concerns about the potential for the Fed to be more aggressive than expected.
The latest weekly initial jobless claims count totaled 211,000, while the Briefing.com consensus expected a reading of 220,000. Today's tally was unchanged from the prior week's unrevised count of 211,000. As for continuing claims, they declined to 1.790 million from a revised count of 1.760 million (from 1.756 million).
Since there was no change in initial claims from the prior week, it's fair to say that there was no change in the key takeaway from the report, which is that the low level of claims continues to underscore a condition of tightening supply in the labor market.
The Treasury Budget for April showed a surplus of $214.3 billion versus a surplus of $182.4 billion for the same period a year ago.
The Treasury Budget data is not seasonally adjusted, so the April surplus cannot be compared to the $208.7 billion deficit for March.

On Friday, investors will receive April Import/Export Prices and the preliminary reading for the University of Michigan Consumer Sentiment Index for May (Briefing.com consensus 98.0).

Nasdaq Composite: +7.3% YTD
Russell 2000: +4.4% YTD
S&P 500: +1.9% YTD
Dow Jones Industrial Average: +0.1% YTD

Dow: +196.99… | Nasdaq: +65.07… | S&P: +25.28…
NASDAQ Adv/Dec 1743/1106. …NYSE Adv/Dec 2101/820.

03:30PM ET

[BRIEFING.COM] The Bloomberg Commodity Index advanced for the second day in a row on Thursday, climbing 0.5% to 90.55, which marks its best close since late January.

A weakening U.S. dollar helped commodities -- the U.S. Dollar Index slid 0.4% to 92.56 -- and, unlike earlier in the week, it wasn't crude oil that did the heavy lifting today. WTI crude futures eked out a modest gain, establishing a new three-and-a-half year high in the process, but spent most of the day in negative territory. The oil market had a largely muted reaction to a firing of rockets in the Middle East between U.S.-ally Israel and Iran -- the latter of which is facing economic sanctions from the U.S. after President Trump pulled out of the Iran nuclear deal on Tuesday.

Natural gas futures, meanwhile, soared 2.6% to a fresh two-week high even though the Department of Energy reported a build of 89 bcf in U.S. inventories. Metals moved broadly higher, led by copper, which hit a fresh two-week high, but agriculture finished mostly lower.

Energy Settlement Prices
June Crude Oil futures rose $0.27 (0.38%) to $71.37/barrel
June Natural Gas settled $0.07 higher (2.55%) at $2.81/MMBtu
June RBOB Gasoline settled $0.02 higher (0.92%) at $2.19/gallon
June Heating oil futures settled flat at $2.22/gallon
Metals Settlement Prices
June gold settled today's session up $9.30 (0.71%) at $1322.5/oz
July silver settled today's session $0.23 higher (1.39%) at $16.77/oz
July copper settled $0.05 higher (1.63%) at $3.11/lb
Agriculture Settlement Prices
May corn settled $0.02 lower at $4.01/bushel
May wheat settled $0.05 lower at $5.06/bushel
May soybeans settled $0.03 higher at $10.19/bushel

Looking ahead to Friday, the weekly Baker Hughes U.S. rig count data will be released at 1:00 PM ET. The report has shown an increase in rigs in each of the past five readings, as rising oil prices have prompted more producers to come online.
Dow: +183.45… | Nasdaq: +55.18… | S&P: +21.37…
NASDAQ Adv/Dec 1721/1122. …NYSE Adv/Dec 2052/866.

03:00PM ET

[BRIEFING.COM] Stocks are floating a step below their best marks of the day moving into the final stretch. The benchmark S&P 500 index is currently up 0.9%.

Looking ahead to tonight's earnings, chipmaker, and market darling, NVIDIA (NVDA 258.64, +2.87) is set to deliver its first quarter results following today's closing bell. Several well-known consumer names will also report tonight, including Yelp (YELP 47.77, -0.14), TiVo (TIVO 13.98, +0.22), and Noodles & Co (NDLS 7.42, +0.02).

Meanwhile, in the crude futures market, WTI crude has been ticking higher this afternoon and is now up 0.5% at $71.47 per barrel. Heightening tensions in the Middle East, specifically between Israel and Iran, have helped underpin the commodity, as has a decline in the U.S. Dollar Index, which is down 0.5% at 92.52.
Dow: +195.93… | Nasdaq: +56.06… | S&P: +23.02…
NASDAQ Adv/Dec 1770/1067. …NYSE Adv/Dec 2103/805.

02:25PM ET

[BRIEFING.COM] Trading in the broader market hasn't changed much since our last update.

All eleven S&P 500 sectors still show gains on Thursday; action is led by the telecom services (+1.9%), health care (+1.3%), utilities (+1.2%), information technology (+1.1%), and materials (+0.9%) groups while industrials (+0.6%) and consumer discretionary (+0.3%) also post respectable gains.

At the top of the hour, the April Treasury Budget showed a $214.3 billion surplus vs $182.4 billion surplus prior.
Dow: +203.91… | Nasdaq: +55.52… | S&P: +22.74…
NASDAQ Adv/Dec 1817/1006. …NYSE Adv/Dec 2120/780.

02:00PM ET

[BRIEFING.COM] The stock market has cooled off slightly these past few minutes, yet still trade firmly within their daily ranges. The Dow, S&P, and Nasdaq still boast gains north of 0.7% apiece.

Gold futures made a bit of a come back today, snapping its recent multi-session losing streak, while settling at a near two-week high. The yellow metal settled 0.7% higher at $1,322.30/oz. For its part, gains in silver futures outpaced those in gold as the gray metal settled up about 1.3% on Thursday.

In equities shares of blue chip tech company Apple (AAPL 189.73, +2.37, +1.3%) just notched a fresh all-time high in the past 30 minutes as the stock market continues to soar. YTD, shares of the iPhone/iPad/Mac maker are up about 12.4% vs the 7.2% advance in the tech-heavy Nasdaq Composite.

Selling in crypto has been ramping up the past hour with the coindesk Bitcoin (USD) price now showing daily losses north of 181 points, or -2.0%, to about $9121 -- this compared to the pre-slump advance of about 0.8%. Today's high was $9383.30, according to coindesk.
Dow: +177.38… | Nasdaq: +51.06… | S&P: +21.96…
NASDAQ Adv/Dec 1792/1014. …NYSE Adv/Dec 2076/812.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to march higher as stocks again rally, thrusting the Dow Jones Industrial Average back into positive territory for the year.

A look inside the Dow shows that UnitedHealth Group (UNH 234.02, +4.81), Johnson & Johnson (JNJ 125.79, +2.28), & Exxon Mobil (XOM 81.42, +1.49) are outperforming. UnitedHeatlh and J&J are both gaining ahead of tomorrow's speech from President Trump on drug prices.

Conversely, Chevron (CVX 128.61, -0.11) is the worst-performing Dow component as the energy sector cools off following a prolonged streak of relative strength alongside gains in crude oil futures.

For the week, the DJIA is now up 2%.

Elsewhere, at the top of the hour, the Treasury's $17 bln 30-year bond auction drew a high yield of 3.13% on a bid-to-cover of 2.38.
Dow: +242.04… | Nasdaq: +73.17… | S&P: +27.55…
NASDAQ Adv/Dec 1822/979. …NYSE Adv/Dec 2116/760.

01:00PM ET

[BRIEFING.COM] Stocks are up big for the second consecutive session, with the S&P 500, the Nasdaq, and the Dow holding gains of around 1.0% at midday. Today's climb has been slow and steady from the start; the major averages opened with gains of around 0.3% and have been ticking higher virtually ever since.

All 11 S&P sectors are in positive territory this afternoon. The health care (+1.6%) and telecom services (+1.6%) groups are leading the charge, followed by materials (+1.3%) and information technology (+1.1%). Within the top-weighted tech space, Apple (AAPL 189.75, +2.39) is up 1.3%, hitting a new all-time high, and on course for its ninth straight advance. Meanwhile, chipmaker, and market darling, NVIDIA (NVDA 258.14, +2.30) is up 0.9% ahead of tonight's earnings release.

At the opposite end of the sector standings, the consumer discretionary group (+0.3%) is struggling to keep pace as retailers underperform; the SPDR S&P Retail ETF (XRT 45.16, -0.05) is down 0.1%. L Brands (LB 31.11, -3.02), which owns brands like Victoria's Secret and Bath & Body Works, is down 8.9% after reporting that its same-store sales were flat in April. The company also lowered its earnings guidance for Q1. Meanwhile, Macy's (M 29.33, -0.81) is down 2.7% after its shares were downgraded to 'Underweight' from 'Equal-Weight' at Morgan Stanley.

Overseas, Israel says it has struck nearly all of Iran's military infrastructure in Syria in response to an Iranian attack against Israeli forces in Golan Heights overnight, and the Bank of England voted 7-2 in favor of keeping its official bank rate and its asset purchase program unchanged. The British pound is down 0.4% against the U.S. dollar at 1.3498 in the wake of the BoE's decision, while the euro and the yen have jumped 0.5% and 0.2%, respectively, against the greenback.

Separately, President Trump tweeted earlier today that his summit with North Korean Leader Kim Jong Un will be held on June 12 in Singapore.

In the bond market, U.S. Treasuries are higher today, pushing yields lower across the curve; the yield on the benchmark 10-yr Treasury note has come down from the 3.00% mark, slipping three basis points to 2.97%, while the 2-yr yield is down two basis points at 2.51%.

Reviewing today's economic data, which has included the April Consumer Price Index and the weekly Initial Claims report thus far:

Total CPI increased 0.2% (Briefing.com consensus +0.3%) in April, while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, total CPI is up 2.5% (vs +2.4% in March) and core CPI is up 2.1% (vs +2.1% in March).
The key takeaway from the report is that the CPI and core CPI headlines were weaker than expected, which helped temper concerns about the potential for the Fed to be more aggressive than expected.
The latest weekly initial jobless claims count totaled 211,000, while the Briefing.com consensus expected a reading of 220,000. Today's tally was unchanged from the prior week's unrevised count of 211,000. As for continuing claims, they declined to 1.790 million from a revised count of 1.760 million (from 1.756 million).
Since there was no change in initial claims from the prior week, it's fair to say that there was no change in the key takeaway from the report, which is that the low level of claims continues to underscore a condition of tightening supply in the labor market.

Today's last economic report -- the April Treasury Budget -- will cross the wires at 2:00 PM ET.
Dow: +228.98… | Nasdaq: +66.04… | S&P: +25.56…
NASDAQ Adv/Dec 1904/885. …NYSE Adv/Dec 2188/687.

12:25PM ET

[BRIEFING.COM] Stocks are still ticking higher, with the S&P 500 now up 0.9%, hitting its best level since March 19.

The CBOE Volatility Index (VIX) -- often called Wall Street's "fear gauge" -- has shed 3.3% today, dropping to 12.98, which marks its lowest level since late January.

In Europe, the major stock indices finished Thursday on a higher note, adding between 0.2% and 0.6%.
Dow: +215.40… | Nasdaq: +58.77… | S&P: +23.32…
NASDAQ Adv/Dec 1843/914. …NYSE Adv/Dec 2166/688.

11:55AM ET

[BRIEFING.COM] Equity indices continue their steady climb, now up around 0.8% apiece.

The latest batch of first quarter earnings included results from CenturyLink (CTL 19.43, +1.39), which beat bottom-line estimates. CTL shares are up 7.6% today following the earnings beat, helping the lightly-weighted telecom services sector regain a nice chunk of its weekly decline; the group is up 1.5% today, cutting its week-to-date loss to 1.6%.

U.S. Treasuries have come off their best marks of the day, but are still in the green. The yield on the benchmark 10-yr Treasury note is down three basis points at 2.97%.
Dow: +191.42… | Nasdaq: +52.34… | S&P: +20.17…
NASDAQ Adv/Dec 1777/965. …NYSE Adv/Dec 2130/715.

11:30AM ET

[BRIEFING.COM] Stocks have continued drifting higher, taking the S&P 500 to a new session high. The benchmark index is currently up 0.7%.

Apple (AAPL 189.05, +1.69) shares are up for the ninth session in a row, notching a new all-time high. The company's better-than-expected quarterly results on May 1 helped get this bullish run going, and Warren Buffet's May 4 acknowledgement that his company, Berkshire Hathaway (BRK.B 200.09, +0.22), bought an additional 75 million shares of Apple in the first quarter helped boost sentiment even further. With today's gain, Apple is up 14.2% month-to-date vs a monthly gain of just 1.6% for the S&P 500.

Other FAANG stocks, including Facebook (FB 185.00, +2.34, +1.3%) and Alphabet (GOOG 1096.35, +13.59, +1.3%), are also rallying today, helping to pin the information technology sector (+0.9%) right behind health care (+1.1%) at the top of the sector standings.
Dow: +185.56… | Nasdaq: +52.81… | S&P: +19.15…
NASDAQ Adv/Dec 1690/1019. …NYSE Adv/Dec 2026/780.

10:55AM ET

[BRIEFING.COM] The major U.S. indices have steadily extended their opening gains this morning, with the S&P 500 now higher by 0.5%.

All 11 S&P sectors are trading in the green. Health care is the best-performing group with a gain of 1.0%, while financials and consumer discretionary are the worst-performing groups with gains of 0.1% apiece. The top-weighted technology sector (+0.8%) is having a solid showing, with Apple (AAPL 188.42, +1.06, +0.6%) notching a new record high.

President Trump recently tweeted that his summit with North Korean Leader Kim Jong Un will be held on June 12 in Singapore.
Dow: +149.47… | Nasdaq: +43.11… | S&P: +14.75…
NASDAQ Adv/Dec 1580/1094. …NYSE Adv/Dec 1885/864.

10:40AM ET

[BRIEFING.COM] Oil prices are marginally lower after notching a fresh four year high overnight. June WTI crude oil futures are down 0.1% at $71.06 (-0.08). International benchmark July Brent oil futures are down 0.2% at $77.06 (-0.15).

Natural Gas futures are lifting after the EIA reported a build in inventories. June natural gas futures are up 1.8% at $2.785/MMBtu (+0.047).

Heating oil futures are the biggest laggard in the commodities space today -- down 10% at $2.00/gallon. Gasoline futures are flat at $2.17/gallon.

Precious metals are bid, aided by a 0.3% decline in the dollar index. June Gold Futures are up 0.5% at $1319/oz (+6.20) while July silver futures are up 1% at $16.73/oz (+0.19).

Copper futures are one of the strongest commodities today after paring losses yesterday -- currently up 1.5% at $3.10/pound
Dow: +125.10… | Nasdaq: +37.99… | S&P: +14.08…
NASDAQ Adv/Dec 1517/1073. …NYSE Adv/Dec 1861/861.

10:00AM ET

[BRIEFING.COM] Equity indices have continued hovering near their opening marks and are sporting gains of around 0.4%.

Retailers are lagging a bit today though, evidenced by the SPDR S&P Retail ETF (XRT 44.97, -0.23), which is down 0.5%. L Brands (LB 32.29, -1.83), which owns brands like Victoria's Secret and Bath & Body Works, is down 5.5% after reporting that its same-store sales were flat in April. The company also lowered its earnings guidance for Q1.

Meanwhile, Macy's (M 28.85, -1.30) is down 4.4% after its shares were downgraded to 'Underweight' from 'Equal-Weight' at Morgan Stanley.
Dow: +101.84… | Nasdaq: +29.82… | S&P: +11.35…
NASDAQ Adv/Dec 1538/1034. …NYSE Adv/Dec 1865/761.

09:40AM ET

[BRIEFING.COM] The major averages are modestly higher in the opening minutes, sporting gains of around 0.3% apiece.

All 11 S&P sectors are trading in the green, with gains ranging between 0.1% and 1.2%. The telecom services group (+1.2%) is the top performer, trimming losses for the week, while the health care (+0.6%) and real estate (+0.6%) spaces are vying for second place in the sector standings.

On the downside, the financial sector (+0.1%) is struggling to stay afloat amid a decline in Treasury yields; the benchmark 10-yr yield is down four basis points at 2.96%.
Dow: +78.35… | Nasdaq: +24.05… | S&P: +10.32…
NASDAQ Adv/Dec 1455/1011. …NYSE Adv/Dec 1840/679.

09:13AM ET
[BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +23.30.

The stock market is on course to extend yesterday's rally at the opening bell, as the S&P 500 futures are trading seven points, or 0.3%, above fair value.

Investors received several pieces of economic data earlier this morning:

Total CPI increased 0.2% (Briefing.com consensus +0.3%) in April, while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, total CPI is up 2.5% (vs +2.4% in March) and core CPI is up 2.1% (vs +2.1% in March).
The latest weekly initial jobless claims count totaled 211,000, while the Briefing.com consensus expected a reading of 220,000. Today's tally was unchanged from the prior week's unrevised count of 211,000. As for continuing claims, they declined to 1.790 million from a revised count of 1.760 million (from 1.756 million).

U.S. Treasuries extended their overnight gains following the data release, pushing the yield on the benchmark 10-yr Treasury note further from the 3.00% mark. The 10-yr yield is currently down four basis points at 2.96%, while the more Fed-sensitive 2-yr yield is down just one basis point at 2.52%. Yields move inversely to Treasury prices.

Today's last economic report -- the April Treasury Budget -- will cross the wires at 2:00 PM ET.

In Europe, the Bank of England voted 7-2 earlier this morning in favor of keeping its official bank rate at 0.50% and its asset purchase program at GBP435 billion. The British pound is currently down 0.2% against the U.S. dollar at 1.3523, while the euro is 0.6% higher against the greenback at 1.1923.

Meanwhile, in the Middle East, Israel says it has struck nearly all of Iran's military infrastructure in Syria in response to an Iranian attack against Israeli forces in Golan Heights overnight. WTI crude futures, which soared to a more than three-year high on Wednesday following President Trump's decision to pull out of the Iran nuclear deal, have ticked up another 0.2% this morning to $71.30/bbl.

In U.S. corporate news, Qualcomm (QCOM 54.30, +1.13) is up 2.1% in pre-market trading after announcing a $10 billion share repurchase program, and Ford Motor (F 11.03, -0.03) is down 0.3% after announcing that it's halting production of its F-150 pickup due to a fire at a supplier plant; however, Ford did reaffirm its FY18 adjusted EPS target of $1.45-$1.70.

08:51AM ET
[BRIEFING.COM] S&P futures vs fair value: +9.30. Nasdaq futures vs fair value: +24.30.

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

Equity indices in the Asia-Pacific region ended Thursday on a mostly higher note. In Malaysia, 92-year old Mahathir Mohamad will become the world's oldest elected leader after the opposition party won the election, ending the previous government's six-decade rule. Bangko Sentral ng Pilipinas raised its overnight rate by 25 basis points to 3.25%, making for the first rate hike since September 2014. The Reserve Bank of New Zealand left its official cash rate at 1.75%, reiterating intentions to maintain expansionary policy for a considerable period.

In economic data:
China's April CPI -0.2% month-over-month (expected -0.1%; last -1.1%); +1.8% year-over-year (consensus 1.9%; last 2.1%). April PPI +3.4% year-over-year, as expected (last 3.1%)
Japan's current account surplus JPY1.77 trillion (expected JPY1.63 trillion; last JPY960 billion). April Bank Lending +2.1% year-over-year (expected 1.9%; last 2.0%). Weekly foreign investment in Japanese stocks -JPY300 million (last JPY480.60 billion)

---Equity Markets---

Japan's Nikkei added 0.4%. Showa Denko, SUMCO, Casio Computer, Toyota Motor, Yamaha Motor, Daikin Industries, Takeda Pharmaceutical, Alps Electric, NGK, TDK, Isuzu Motors, Okuma, Advantest, and Yamaha rose between 1.4% and 5.2%.
Hong Kong's Hang Seng gained 0.9%. Energy-related names were among the leaders with China Shenhua Energy, CNOOC, and China Petrol & Chemical rising between 1.5% and 4.0%. Financials like AIA Group, Hang Seng Bank, HSBC, and BoC Hong Kong advanced between 0.7% and 2.4%.
China's Shanghai Composite rose 0.5%. Shanghai Bailian Group, Lawton Development, Keda Group, Wuhan Hanshang, and Beijing Tiantan Biological Products climbed between 4.5% and 7.8%.
India's Sensex shed 0.2%. Dr. Reddy's Labs fell 3.7% while Tata Motors, Sun Pharma, Bajaj Auto, Tata Consultancy, Hero MotoCorp, and SBI lost between 0.3% and 2.3%.

Major European indices trade mixed with Italy's MIB (-1.4%) returning to its low from Tuesday. Italian debt has also retreated, pushing up the country's 10-yr yield four basis points to 1.92%. The selling comes as Movimento 5 Stelle and Lega near a coalition deal after Forza Italia's Silvio Berlusconi allowed Lega to break its center-right alliance with FI. Forza will not provide unilateral backing to the government, but will consider support on a case-by-case basis. An M5S-Lega alliance means that Italy will have a euroskeptic government with a penchant for running high deficits that are almost certain to clash with eurozone rules. The Bank of England voted 7-2 to leave its official bank rate and asset purchase program unchanged at their respective 0.50% and GBP435 billion. Keep in mind that expectations for a May hike surged after the March policy meeting, but receded quickly in the weeks that followed.

In economic data:
UK's March Industrial Production +0.1% month-over-month, as expected (last 0.1%); +2.9% year-over-year (consensus 3.1%; last 2.1%). March Manufacturing Production -0.1% month-over-month (expected -0.2%; last -0.2%); +2.9% year-over-year, as expected (last 2.5%). March Construction Output -2.3% month-over-month (expected -2.1%; last -1.0%); -4.9% year-over-year (expected -5.7%; last -1.8%)
Italy's March Industrial Production +1.2% month-over-month (expected 0.4%; last -0.5%); +3.6% year-over-year (consensus 2.4%; last 2.5%)

---Equity Markets---

Germany's DAX is higher by 0.2%. Heavyweights like Merck, Siemens, and BASF are up between 0.7% and 1.7% while financials lag. Deutsche Bank is down 0.2% while Commerzbank and Allianz show respective losses of 0.7% and 3.8%.
UK's FTSE is up 0.2%. Next has jumped 7.3% after boosting its profit forecast while other consumer names like ITV, Morrison Supermarkets, Kingfisher, Paddy Power, and Imperial Brands are up between 0.4% and 4.3%.
France's CAC is lower by 0.1%. Growth-sensitive names like TechnipFMC, Valeo, Total, Accor, and Renault are down between 0.7% and 0.9% while financials like BNP Paribas and Credit Agricole show respective losses of 0.6% and 0.3%.
Italy's MIB shows a loss of 1.4%. Banco Bpm, FinecoBank, UBI Banca, Telecom Italia, ENI, Pirelli, Intesa Sanpaolo, and Bper Banca hold losses between 0.9% and 4.3%.

08:33AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +7.80.

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

Just in, total CPI increased 0.2% (Briefing.com consensus +0.3%) in April, while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, total CPI is up 2.5% (vs +2.4% in March) and core CPI is up 2.1% (vs +2.1% in March).

Separately, the latest weekly initial jobless claims count totaled 211,000, while the Briefing.com consensus expected a reading of 220,000. Today's tally was unchanged from the prior week's unrevised count of 211,000. As for continuing claims, they declined to 1.790 million from a revised count of 1.760 million (from 1.756 million).

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +16.30.

Stocks have cooled off following yesterday's unexpected surge, leaving the market on track for a flattish open. The S&P 500 futures are six points, or 0.2%, above fair value.

Investors are set to receive some key inflationary data this morning -- namely, the April Consumer Price Index -- that will factor into rate-hike expectations. The Briefing.com consensus is calling for a month-over-month increase of 0.3% in total CPI and a 0.2% uptick in core CPI, which is seen as a better gauge of long-term inflation as it excludes the volatile categories of food and energy. The CPI figures will be released alongside the weekly Initial Claims report (Briefing.com consensus 220K) at 8:30 AM ET, while the April Treasury Budget will cross the wires at 2:00 PM ET.

Overseas, European equities are mixed after the Bank of England voted 7-2 in favor of keeping its official bank rate at 0.50% and its asset purchase program at GBP435 billion. The British pound is down 0.2% against the U.S. dollar at 1.3527, while the euro is up 0.3% at 1.1885. The major indices in Asia wrapped up their Thursday session on a higher note, adding between 0.4% and 0.9%.

In the Middle East, Israel says it has struck nearly all of Iran's military infrastructure in Syria in response to an Iranian attack against Israeli forces in Golan Heights overnight. Tensions in the region have been heightened since Tuesday when President Trump decided to pull out of the Iran nuclear deal and restore the "highest level of economic sanctions" against Iran.

U.S. Treasuries have rebounded a bit this morning, sending the yield on the benchmark 10-yr Treasury note back below the 3.00% mark. The 10-yr yield is currently down two basis points at 2.98%, but the yield on the 2-yr note has been able to keep at its Wednesday close of 2.53%.

In U.S. corporate news:

Duke Energy (DUK 77.60, -0.04): -0.1% after beating earnings estimates on worse-than-expected revenues.
21st Century Fox (FOXA 38.00, +0.30): +0.8% despite missing quarterly earnings estimates.
First Solar (FSLR 71.30, +1.87): +2.7% following news that California will require solar panels on almost all new homes starting in 2020.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Thursday on a mostly higher note. Japan's Nikkei +0.4%, Hong Kong's Hang Seng +0.9%, China's Shanghai Composite +0.5%, India's Sensex -0.2%.
In economic data:
China's April CPI -0.2% month-over-month (expected -0.1%; last -1.1%); +1.8% year-over-year (consensus 1.9%; last 2.1%). April PPI +3.4% year-over-year, as expected (last 3.1%)
Japan's current account surplus JPY1.77 trillion (expected JPY1.63 trillion; last JPY960 billion). April Bank Lending +2.1% year-over-year (expected 1.9%; last 2.0%). Weekly foreign investment in Japanese stocks -JPY300 million (last JPY480.60 billion)
In news:
In Malaysia, 92-year old Mahathir Mohamad will become the world's oldest elected leader after the opposition party won the election, ending the previous government's six-decade rule.
Bangko Sentral ng Pilipinas raised its overnight rate by 25 basis points to 3.25%, making for the first rate hike since September 2014.
The Reserve Bank of New Zealand left its official cash rate at 1.75%, reiterating intentions to maintain expansionary policy for a considerable period.

Major European indices trade mixed with Italy's MIB (-1.1%) returning to its low from Tuesday. Germany's DAX +0.3%, UK's FTSE unch, France's CAC -0.1%.
In economic data:
UK's March Industrial Production +0.1% month-over-month, as expected (last 0.1%); +2.9% year-over-year (consensus 3.1%; last 2.1%). March Manufacturing Production -0.1% month-over-month (expected -0.2%; last -0.2%); +2.9% year-over-year, as expected (last 2.5%). March Construction Output -2.3% month-over-month (expected -2.1%; last -1.0%); -4.9% year-over-year (expected -5.7%; last -1.8%)
Italy's March Industrial Production +1.2% month-over-month (expected 0.4%; last -0.5%); +3.6% year-over-year (consensus 2.4%; last 2.5%)
In news:
Italian debt has also retreated, pushing up the country's 10-yr yield four basis points to 1.92%. The selling comes as Movimento 5 Stelle and Lega near a coalition deal after Forza Italia's Silvio Berlusconi allowed Lega to break its center-right alliance with FI. Forza will not provide unilateral backing to the government, but will consider support on a case-by-case basis. An M5S-Lega alliance means that Italy will have a euroskeptic government with a penchant for running high deficits that are almost certain to clash with eurozone rules.
The Bank of England voted 7-2 to leave its official bank rate and asset purchase program unchanged at their respective 0.50% and GBP435 billion. Keep in mind that expectations for a May hike surged after the March policy meeting, but receded quickly in the weeks that followed.

07:31AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +13.30.

05:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +10.80.

05:50AM ET
[BRIEFING.COM] Nikkei...22497...+88.30...+0.90%. Hang Seng...30809...+273.10...+0.90%.

05:50AM ET
[BRIEFING.COM] FTSE...7653.77...-8.80...-0.10%. DAX...13014.90...+71.80...+0.60%.

04:25PM ET

[BRIEFING.COM] Equities made a strong move higher on Wednesday, with the S&P 500 and the Nasdaq climbing 1.0% apiece, and the Dow advancing 0.8%.

The day began on a mildly higher note as investors continued to digest President Trump's Tuesday decision to withdraw the U.S. from the Iran nuclear deal. However, buying picked up notably around midday as the S&P 500 started to pull away from its 50-day moving average -- which, up until that point, had been an area of resistance.

The energy sector led the charge on Wednesday, closing atop the sector standings -- by a wide margin -- with a gain of 2.0%. A rebound in the crude oil futures market, which returned to a three-and-a-half year high after tumbling on Tuesday in a "sell the news" trade, fueled the energy rally; WTI crude futures settled higher by 2.9% at $71.10 per barrel. President Trump's decision to restore the "highest level of economic sanctions" against Iran, OPEC's third-largest oil exporter, will likely decrease crude supply on the global market -- which, in turn, should force prices higher.

In total, nine of eleven S&P sectors closed in the green. In addition to energy, the financials (+1.5%), technology (+1.4%), materials (+1.4%), and industrials (+1.1%) sectors added more than 1.0% apiece. On the downside, the lightly-weighted utilities and telecom services sectors finished at the back of the pack with losses of 0.8% and 1.1%, respectively.

The consumer staples sector closed a tick higher, but a ways behind the broader market. Walmart (WMT 83.06, -2.68) weighed on the group, losing 3.1%, after the company agreed to buy a 77% stake in Indian e-commerce giant Flipkart for $16 billion -- which qualifies as Walmart's largest acquisition deal ever.

On the earnings front, Walt Disney (DIS 99.97, -1.82) beat both earnings and revenue estimates for its fiscal second quarter, but continued concerns about the ESPN business and the fate of the company's deal to acquire the entertainment assets of 21st Century Fox (FOXA 37.70, -0.29) overpowered the good earnings news; DIS shares finished lower by 1.8%.

U.S. Treasuries ended Wednesday on a broadly lower note, pushing yields higher across the curve. The yield on the benchmark 10-yr Treasury note returned to the psychologically important 3.00% mark, finishing four basis points above its Tuesday close, while the 2-yr yield ticked up one basis point to 2.53% -- a fresh cycle high.

Reviewing Wednesday's economic data, which included the April Producer Price Index, March Wholesale Inventories, and the weekly MBA Mortgage Applications Index:

The Producer Price Index for final demand increased 0.1% (Briefing.com consensus +0.2%), while the final demand index, less food and energy, rose 0.2%, as expected.
The key takeaway from the report is that there was a moderation in the producer price inflation trend in April, yet it wasn't significant enough to alter the Federal Reserve's perspective pertaining to the presumed path for inflation and monetary policy.
Wholesale inventories increased 0.3% in March (Briefing.com consensus +0.5%) on top of a downwardly revised 0.9% increase (from +1.0%) in February.
The market is known for showing a limited reaction to the release, since the full business inventories report is released a few days later.
The weekly MBA Mortgage Applications Index declined by 0.4%.

On Thursday, investors will receive the April Consumer Price Index (Briefing.com consensus +0.3%), weekly Initial Claims (Briefing.com consensus 220K), and the April Treasury Budget.

Nasdaq Composite: +6.3% YTD
Russell 2000: +3.9% YTD
S&P 500: +0.9% YTD
Dow Jones Industrial Average: -0.7% YTD

Dow: +182.33… | Nasdaq: +73.00… | S&P: +25.87…
NASDAQ Adv/Dec 1764/1105. …NYSE Adv/Dec 1835/1087.

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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