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 Post subject: May 11th Friday Price Action Trade Result Profit $2462.50
PostPosted: Fri May 11, 2018 8:52 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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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 @ $2462.50 dollars or +49.25 points, Light Crude Oil CL ($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 @ $2462.50 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=2820

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: +91.64… | Nasdaq: -2.09… | S&P: +4.65…
NASDAQ Vol: 2.07 bln… Adv: 1543… Dec: 1295…
NYSE Vol: 715.8 mln… Adv: 1623… Dec: 1279…

Moving the Market

Some buying momentum following solid gains in the last two sessions

Top-weighted technology sector pulls back following six-session rally; NVIDIA (NVDA) stumbles despite reporting better-than-expected first quarter results

Health care sector moves sharply higher after President Trump's blueprint for lowering drug prices contains few specific details

Sector Watch
Strong: Health Care, Telecom Services
Weak: Technology, Real Estate

04:30PM ET

[BRIEFING.COM] Equities ticked higher on Friday, locking in big gains for the week, as a positive performance from the health care sector narrowly outweighed a modest pullback from the information technology group. The S&P 500 and the Dow added 0.2% and 0.4%, respectively, while the tech-heavy Nasdaq underperformed, closing a tick below its flat line. All three indices finished with weekly gains of more than 2.0%.

The market drifted flat to slightly higher for the bulk of Friday's session, but volatility picked up briefly in the afternoon when President Trump unveiled a blueprint for lowering drug prices. The president plans to increase competition within the drug space and to change rules that have allowed some drugmakers to game the system. The blueprint lacked many details, however, prompting a sigh of relief from investors, who were worried about the possibility of imminent regulation. Health-related names rallied into the close, leaving the S&P 500's health care sector with a gain of 1.5%.

Telecom services was the only group to outperform health care on Friday, largely thanks to Verizon (VZ 48.62, +1.42), which rallied after JPMorgan upgraded shares to 'Overweight' from 'Neutral'; the telecom services group finished with a gain of 2.1%, while Verizon shares ended higher by 3.0%.

The only other sectors to finish in the green were industrials, consumer discretionary, and utilities, but their gains were modest at 0.2% apiece. On the downside, six sectors finished in the red, but no group lost more than 0.5%. The technology group was among the worst performers, closing lower by 0.3%, which posed a problem for the broader market given the group's huge influence; technology is the top-weighted S&P 500 sector, representing around a quarter of the broader market alone.

Shares of chipmaker NVIDIA (NVDA 254.53, -5.60) declined 2.2%, retreating from an all-time high, amid a "sell the news" response to the company's first quarter results, which came in better-than-expected. Separately, Apple (AAPL 188.59, -0.72) shares broke their nine-session winning streak, slipping 0.4%, and shares of Symantec (SYMC 19.52, -9.66) plunged 33.1% after the company announced that it has relayed concerns from an ex-employee to the SEC.

Outside of equities, U.S. Treasuries finished Friday on a flattish note, with the benchmark 10-yr yield holding steady at 2.97%. Meanwhile, WTI crude futures declined 0.9% to $70.70 per barrel, slipping from a three-and-a-half year high, and the U.S. Dollar Index dropped for the third day in a row, slipping 0.2% to 92.41.

Reviewing Friday's economic data, which was limited to April Import/Export Prices and the preliminary reading of the University of Michigan Consumer Sentiment Index for May:

Import prices excluding oil rose 0.2% in April after rising a revised 0.1% in March (from +0.2%). Export prices excluding agriculture increased 0.7% after holding flat last month (revised from -0.1%).
The key takeaway from the report is that overall import price pressures moderated on a year-over-year basis while nonfuel import prices remain at palatable levels on a year-over-year basis.
The preliminary reading of the University of Michigan Consumer Sentiment Index for May held steady at 98.8 (Briefing.com consensus 98.0).
The key takeaway from the report is that there was some slippage in income expectations and a small uptick in the one-year inflation expectation to 2.8% from 2.7%.

Investors will not receive any economic data on Monday.

Nasdaq Composite: +7.2% YTD
Russell 2000: +4.6% YTD
S&P 500: +2.0% YTD
Dow Jones Industrial Average: +0.5% YTD

Week In Review: Buyers Re-emerge Following Q1 Earnings Season

Buyers returned to the market this week following a three-week absence during the thick of the first quarter earnings season. The S&P 500, the Dow, and the Nasdaq finished with sizable weekly gains, adding between 2.3% and 2.7% apiece -- enough to put the S&P 500 and the Dow back into positive territory for the year (+2.0%, +0.5% YTD). The Nasdaq is now up 7.2% year-to-date.

The stock market got off to a slow start this week as investors digested President Trump's decision to pull the U.S. out of the Iran nuclear agreement and restore the "highest level of economic sanctions" against Iran. The president was scolded by European allies, which wanted the U.S. to remain in the agreement, while Iran's response was more violent with lawmakers burning the American flag in parliament.

Tensions in Middle East were further escalated later in the week when Israel struck nearly all of Iran's military infrastructure in Syria in response to an Iranian missile attack on Israeli-held territory.

Outside of a brief pause, stocks had a mostly muted reaction to the headlines, but crude oil futures took off, with WTI crude establishing a new three-and-a-half year high ($71.26/bbl), as the restoration of U.S. sanctions on Iran -- which is OPEC's third-largest oil exporter -- and the looming threat of conflict within the oil-rich region prompted investors to bet on a disruption to crude supply on the global market.

The S&P's energy sector benefited from the rise in oil prices, adding 3.8% this week, but the industrials, technology, and financials sectors finished with similar weekly gains, adding between 3.4% and 3.6%. In total, nine sectors finished the week in the green, while two -- consumer staples (-0.5%) and utilities (-2.3%) -- finished in the red.

Stocks started taking off on Wednesday and carried that momentum into Thursday's session; the S&P 500 added 1.9% in those two days alone, catapulting above its 50-day moving average to a nearly two-month high. Technology shares rallied over that two-day stretch, reminiscing last year's tech-charged surge, with Apple (AAPL) extending its streak of record closes to five in a row on Thursday (the streak was then broken with a small loss on Friday).

Investors received some important inflation data on Thursday -- namely, the Consumer Price Index for April -- which helped further fuel the bullish bias, coming in slightly below estimates (+0.2% actual vs +0.3% Briefing.com consensus), and thereby tempering concerns that the Fed might have to be more aggressive in its path to normalization.

Overseas, the Bank of England voted 7-2 in favor of keeping its official bank rate and its asset purchase program unchanged on Thursday, but BoE Governor Mike Carney added that interest rates will likely go up by the end of the year. Separately, President Trump announced that his summit with North Korean Leader Kim Jong Un will be held on June 12 in Singapore, a positive stride in the quest for global peace.

The stock market ended the week with a flat performance on Friday. Volatility picked up temporarily in the afternoon when President Trump released a blueprint for lowering drug prices, but order was restored after it became clear that the blueprint still lacked many specific details.
Dow: +91.64… | Nasdaq: -2.09… | S&P: +4.65…
NASDAQ Adv/Dec 1543/1295. …NYSE Adv/Dec 1623/1279.

03:30PM ET

[BRIEFING.COM] The Bloomberg Commodity Index tumbled from a more than three-month high on Friday, dropping 0.6% to 90.04.

Baker Hughes reported that the active number of oil rigs in the U.S. rose for a sixth week in a row, climbing by 13 to 1045. Crude oil futures pulled back from a three-and-a-half year high, while natural gas futures also settled in the red. Outside of energy, metals and agriculture finished mostly lower, but copper futures did settle flat.

Energy Settlement Prices
June Crude Oil futures fell $0.67 (-0.94%) to $70.7/barrel
June Natural Gas settled $0.01 lower (-0.36%) at $2.8/MMBtu
June RBOB Gasoline settled flat at $2.19/gallon
June Heating oil futures settled flat at $2.22/gallon
Metals Settlement Prices
June gold settled today's session down $1.60 (0.12%) at $1320.9/oz
July silver settled today's session $0.02 lower (0.12%) at $16.75/oz
July copper settled flat at $3.11/lb
Agriculture Settlement Prices
May corn settled $0.04 lower at $3.97/bushel
May wheat settled $0.09 lower at $4.967/bushel
May soybeans settled $0.17 lower at $10.02/bushel

Dow: +65.25… | Nasdaq: -10.41… | S&P: +2.38…
NASDAQ Adv/Dec 1569/1305. …NYSE Adv/Dec 1576/1333.

03:00PM ET

[BRIEFING.COM] The S&P 500 is flat moving into the final hour of trading, trying to keep its weekly gain of 2.3% intact.

Apple (AAPL 187.75, -1.56) has struggled today and is currently on course to break both its nine-session winning streak and its streak of record closes, which currently sits at five in a row. Shares of the tech giant are currently down 0.9%, trimming their May advance to a still impressive 13.8%; for comparison, the S&P 500 is up 2.8% month to date.

The top-weighted technology sector, which houses Apple, is the worst-performing S&P group moving into the final stretch, showing a loss of 0.7%.
Dow: +40.08… | Nasdaq: -19.62… | S&P: +0.30…
NASDAQ Adv/Dec 1489/1358. …NYSE Adv/Dec 1504/1363.

02:25PM ET

[BRIEFING.COM] The major averages have jostled around following the latest press conference at the White House wherein President Donald Trump detailed changes to U.S. drug and health care policy. The Dow, Nasdaq, and S&P still trade within their daily ranges.

Within the last half hour President Donald Trump released details of plans to lower drug prices across the U.S. President Trump discussed points from his prepared remarks, stating, "we're very much eliminating the middlemen." President Trump was also critical of drug lobbyists, suggesting they were making an "absolute fortune" at the expense of the American taxpayer.

During President Trump's speech shares of Pharmacy Benefit Managers (PBMs) fell with the steepest losses coming from names like ESRX +3.37%, CVS +1.87%. Insurers also fell -- MOH -0.45%, HUM +0.51%, AET +0.51%, CI +1.04%, WCG +0.62%, CNC +0.73%, UNH +1.12%, ANTM +1.35% -- but have since recouped losses. Distribution stock were also impacted -- ABC +1.68%, CAH +1.08%, MCK +1.48% -- yet still trade in positive territory today. Large cap pharma names also fell during the speech LLY +1.12%, PFE +1.07%, BMY +0.90%, MRK +1.58%.
Dow: -7.60… | Nasdaq: -16.35… | S&P: -2.71…
NASDAQ Adv/Dec 1445/1386. …NYSE Adv/Dec 1492/1379.

02:00PM ET

[BRIEFING.COM] The major averages are little changed since our last update.

Gold futures closed out the week with a barely lower settlement on Friday, down 0.1%, to $1,320.70/oz. Today's move slightly trims the yellow metal's weekly advance to 0.5%. Gold saw a slightly higher week juxtaposed against a weaker dollar.

The U.S. Dollar Index continues its move off five-month highs, down 0.2% at 92.51.
Dow: +23.94… | Nasdaq: -19.93… | S&P: -1.90…
NASDAQ Adv/Dec 1422/1387. …NYSE Adv/Dec 1510/1346.

01:50PM ET

[BRIEFING.COM] The S&P 500 continues to drift near its flat line, unchanged since our last update.

Six sectors are in the green -- consumer discretionary (unch), energy (+0.2%), materials (+0.1%), health care (+0.4%), utilities (+0.4%), and telecom services (+2.2%) -- while five groups are trading in the red -- financials (-0.1%), industrials (unch), technology (-0.5%), consumer staples (-0.3%), and real estate (-0.4%).
Dow: +23.72… | Nasdaq: -20.24… | S&P: -0.66…
NASDAQ Adv/Dec 1416/1396. …NYSE Adv/Dec 1464/1385.

01:00PM ET

[BRIEFING.COM] The stock market is drifting flat this afternoon after an attempt to extend a two-day rally petered out this morning. The S&P 500 is currently hovering right at its Thursday close (2723) after being up as much as 0.4% earlier, while the Nasdaq is down 0.2% and the Dow is up 0.2%. For the week, the three major averages are still up more than 2.0% apiece.

Most S&P sectors are roughly flat, but the top-weighted technology group (-0.5%) is lagging a bit, pulling back after six straight wins. Chipmaker NVIDIA (NVDA 255.50, -4.60) is particularly weak amid a "sell the news" response to its first quarter results, which came in better-than-expected. NVIDIA shares are down 1.7%, retreating from yesterday's record close.

At the opposite end of the sector standings, the lightly-weighted telecom services group has rebounded 2.2% today, jumping into positive territory for the week (+1.0%). Verizon (VZ 48.71, +1.50) is fueling the bullish bias after JPMorgan upgraded the stock to 'Overweight' from 'Neutral' this morning; VZ shares are up 3.2%.

As for the other S&P sectors, no group is up or down more than 0.4%.

Outside of equities, Treasury yields are flat to slightly lower today, with the benchmark 10-yr yield slipping one basis point to 2.96%, WTI crude futures have slid 0.5% to $71.03 per barrel after finishing Thursday at a three-and-a-half year high, and the U.S. Dollar Index is down 0.2% at 92.35, moving further away from the 2018 high it hit on Tuesday.

In Washington, President Trump is scheduled to unveil his long-awaited plan to reduce drug prices at 2:00 PM ET. Separately, House Speaker Paul Ryan (R-WI) said on Thursday that the White House has until May 17 to renegotiate NAFTA if it wants lawmakers to vote on a revised version this year.

Reviewing today's economic data, which was limited to April Import/Export Prices and the preliminary reading of the University of Michigan Consumer Sentiment Index for May:

Import prices excluding oil rose 0.2% in April after rising a revised 0.1% in March (from +0.2%). Export prices excluding agriculture increased 0.7% after holding flat last month (revised from -0.1%).
The key takeaway from the report is that overall import price pressures moderated on a year-over-year basis while nonfuel import prices remain at palatable levels on a year-over-year basis.
The preliminary reading of the University of Michigan Consumer Sentiment Index for May held steady at 98.8 (Briefing.com consensus 98.0).
The key takeaway from the report is that there was some slippage in income expectations and a small uptick in the one-year inflation expectation to 2.8% from 2.7%.

Dow: +47.98… | Nasdaq: -17.46… | S&P: +1.24…
NASDAQ Adv/Dec 1440/1331. …NYSE Adv/Dec 1509/1325.

12:30PM ET

[BRIEFING.COM] The S&P 500 has slipped into the red for the first time since the opening bell, while the Nasdaq has extended its loss to 0.3%.

There's some reports circulating that social media giant Facebook (FB 186.97, +1.44) is considering creating its own cryptocurrency. Bitcoin -- which is the largest cryptocurrency by market cap -- has tumbled 8.2% today to $8604, marking a fresh three-week low, but was down big even before the Facebook headline.

In Europe, the major stock indices finished Friday on a mixed note; the UK's FTSE climbed 0.3%, while France's CAC and Germany's DAX shed 0.1% and 0.2%, respectively.
Dow: +11.16… | Nasdaq: -21.33… | S&P: -2.15…
NASDAQ Adv/Dec 1453/1307. …NYSE Adv/Dec 1480/1349.

11:55AM ET

[BRIEFING.COM] The major averages are now mostly flat, but the Dow Jones Industrial Average is still holding onto a modest gain of 0.3%.

Video game retailer GameStop (GME 12.80, -0.23) has declined 1.8% today after its CEO, Michael K. Mauler, unexpectedly resigned this morning, citing personal reasons. Mr. Mauler had only served as the company's chief executive for three months (hired on February 6, 2018).

In currencies, the U.S. Dollar Index is down for the third day in a row, slipping 0.1% to 92.44, after hitting a fresh 2018 high on Tuesday.
Dow: +52.32… | Nasdaq: -4.45… | S&P: +3.00…
NASDAQ Adv/Dec 1564/1187. …NYSE Adv/Dec 1624/1169.

11:30AM ET

[BRIEFING.COM] The major averages have slipped a bit since the last update, with the tech-heavy Nasdaq now flirting with negative territory.

Rehashing the latest batch of earnings, NVIDIA (NVDA 257.27, -2.92), Yelp (YELP 44.92, -2.83), and Dropbox (DBX 31.16, -0.84) are all down despite reporting in-line or better-than-expected results; Yelp and Dropbox are down 5.9% and 2.8%, respectively, while NVIDIA is lower by 1.1%. Meanwhile, Symantec (SYMC 18.93, -10.25) has plunged 35.0% after its upbeat earnings were overshadowed by news that the company has relayed concerns from an ex-employee to the SEC.

In Washington, House Speaker Paul Ryan (R-WI) said on Thursday that the White House has until May 17 to renegotiate NAFTA if it wants lawmakers to vote on a revised version this year. Separately, President Trump is expected to reveal his long-awaited plan to reduce drug prices at 2:00 PM ET.
Dow: +83.83… | Nasdaq: +1.69… | S&P: +5.76…
NASDAQ Adv/Dec 1630/1095. …NYSE Adv/Dec 1709/1058.

11:00AM ET

[BRIEFING.COM] The stock market has ticked up since opening on a flattish note, with the S&P 500 now higher by 0.3%.

Technology still weighs on the broader market, down 0.1%, but just about all of the remaining S&P 500 sectors are trading in the green. Telecom services is leading with a gain of 2.1%, mostly thanks to JPMorgan's upgrade of Verizon (VZ 48.67, +1.47) earlier this morning, while other advancing sectors hold more modest gains between 0.1% and 0.7%.

In the bond market, U.S. Treasuries have relinquished their overnight gains, slipping back to their unchanged marks. The 10-yr yield is flat at 2.97%.
Dow: +116.06… | Nasdaq: +11.48… | S&P: +9.25…
NASDAQ Adv/Dec 1702/988. …NYSE Adv/Dec 1811/941.

10:55AM ET

[BRIEFING.COM] Most commodities having a quiet session. The dollar index is down 0.2%.

June crude oil futures are slightly lower at $71.25/barrel (-0.11) while July Natural Gas futures are nearly flat at $2.187/MMBtu (-0.004).

July Silver futures are up 0.2% at $16.80/oz (+0.04) while June gold futures are flat at $1322.60/oz (+0.30).

Lumber futures hit another new high today, up 1.5%.

Cocoa is the best performing commodity, up 3% while lead and nickel futures are both up nearly 2%.
Dow: +101.93… | Nasdaq: +5.45… | S&P: +6.93…
NASDAQ Adv/Dec 1593/1019. …NYSE Adv/Dec 1742/1000.

10:00AM ET

[BRIEFING.COM] The S&P 500 has been ticking higher in recent trading and is currently up 0.2%.

Just in, the preliminary reading of the University of Michigan Consumer Sentiment Index for May held steady at 98.8 (Briefing.com consensus 98.0).
Dow: +107.86… | Nasdaq: -0.64… | S&P: +5.99…
NASDAQ Adv/Dec 1603/984. …NYSE Adv/Dec 1740/894.

09:40AM ET

[BRIEFING.COM] The major averages are mixed, but flat, in the opening minutes, hovering within 0.2% of their unchanged marks.

Most S&P sectors are in the green, but gains are limited; outside of telecom services (+1.8%) and health care (+0.7%), no group is up more than 0.4%. The top-weighted technology group (-0.5%) is lagging though, as NVIDIA (NVDA 253.59, -6.36) tumbles in a "sell the news" response to its better-than-expected first quarter results.

As a reminder, the preliminary reading of the University of Michigan Consumer Sentiment Index for May (Briefing.com consensus 98.0) will be released at 10:00 AM ET.
Dow: +72.80… | Nasdaq: -4.02… | S&P: +3.77…
NASDAQ Adv/Dec 1517/998. …NYSE Adv/Dec 1680/845.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: -11.00.

The stock market is on course for a flattish to slightly higher open, as the S&P 500 futures are trading one point above fair value.

NVIDIA (NVDA 253.60, -6.53) reported its first quarter results following Thursday's close, beating both top and bottom line estimates while also raising its revenue guidance for Q2. However, NVIDIA shares are down 2.5% in pre-market trading. Meanwhile, shares of Symantec (SYMC 20.50, -8.68) are down 29.6% after the company announced that it has relayed concerns from an ex-employee to the SEC.

U.S. Treasuries are modestly higher this morning, pushing yields a tick lower; the benchmark 10-yr yield is down one basis point at 2.96%.

Investors received the April Import/Export Prices report earlier this morning; Import prices -- excluding oil -- rose 0.2%, while export prices -- excluding agriculture -- climbed 0.7%. Today's last economic report -- the preliminary reading of the University of Michigan Consumer Sentiment Index for May (Briefing.com consensus 98.0) -- will cross the wires at 10:00 AM ET.

In Washington, President Trump is expected to reveal his long-awaited plan to reduce drug prices at 2:00 PM ET.

08:51AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: -8.00.

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

Equity indices in the Asia-Pacific region ended the week on a mixed note. The overnight session was very quiet, with no top-tier data crossing the wires. China Securities Times reported that the People's Bank of China will have full custody over the reserves of payment companies.

In economic data:
China's April New Loans CNY1.18 trillion (expected CNY1.10 trillion; last CNY1.12 trillion). April M2 Money Stock +8.3% year-over-year (expected 8.5%; last 8.2%)
Japan's M2 Money Stock +3.3% year-over-year (expected 3.2%; last 3.1%)
Australia's March Home Loans -2.2% month-over-month (expected -2.0%; last -0.2%) and March Invest Housing Finance -9.0% month-over-month (last 0.5%)
New Zealand's April FPI +0.1% month-over-month (last 1.0%) and April Business NZ PMI 58.9 (last 52.2)
Hong Kong's Q1 GDP +2.2% quarter-over-quarter (last 0.8%); +4.7% year-over-year (last 3.4%)

---Equity Markets---

Japan's Nikkei rose 1.2%, gaining 1.3% for the week. Suzuki Motor, Marui, Panasonic, TDK, Asahi Group Holdings, KDDI, Fanuc, and Tokyo Electron climbed between 2.5% and 9.0%.
Hong Kong's Hang Seng added 1.0%, extending this week's gain to 4.0%. Geely Automobile jumped 3.7% while property names like Wharf Real Estate, Henderson Land, New World Development, China Construction Bank, Link Reit, and SHK Properties gained between 0.9% and 2.1%.
China's Shanghai Composite fell 0.4%, trimming this week's gain to 2.3%. Zhejiang Hisun Pharmaceutical, Insigma Technology, Zhejiang Huahai Pharmaceutical, and Qingdao Tianhua Institute of Chemistry Engineering lost between 4.6% and 5.7%.
India's Sensex gained 0.8%, extending this week's advance to 1.6%. The index recorded its sixth consecutive weekly gain with help from most components. Asian Paints jumped 6.2% while Tata Steel, Yes Bank, Kotak Mahindra Bank, ITC, Infosys, Reliance Industries, and Wipro posted gains between 0.8% and 2.2%.

Major European indices trade near their flat lines while the euro is seeking its second consecutive gain. In Italy, a populist, anti-austerity government is taking shape, as Lega and Movimento 5 Stelle expect to nominate a prime minister on Sunday. A Lega-M5S coalition was viewed as the worst-case scenario prior to the election, but capital markets have not shown much concern, even though the prospect is close to becoming reality. In the UK, the unraveling of the Brexit plan is continuing, with the latest reports indicating Prime Minister Theresa May's cabinet is divided into two groups with opposing views about remaining in the customs union. Recall that the House of Lords voted to remove the official Brexit date from the withdrawal bill earlier this week.

In economic data:
Spain's April CPI +0.8% month-over-month, as expected (last 0.1%); +1.1% year-over-year, as expected (last 1.2%)

---Equity Markets---

France's CAC is down 0.2% with consumer names among the laggards. L'Oreal, Danone, and Pernod Ricard show losses between 0.3% and 0.8%. On the upside, Renault is higher by 1.0% while ArcelorMittal trades up 3.0%.
Germany's DAX is lower by 0.3%. Utilities E.On and RWE are down 1.8% and 1.5%, respectively, while Merck, Bayer, BASF, SAP, Commerzbank, Siemens, Daimler, and BMW hold losses between 0.2% and 0.9%.
UK's FTSE is flat. Consumer names like Imperial Brands, Next, Associated British Foods, Compass, InterContinental Hotels, Marks & Spencer, and Paddy Power are down between 0.4% and 1.5%.
Italy's MIB trades up 0.5%. Bper Banca, UBI Banca, Fiat, Mediobanca, Mediaset, Banco Bpm, Luxottica, and Banca Generali sport gains between 0.1% and 2.3%.

08:33AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +2.50.

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

Just in, import prices excluding oil rose 0.2% in April after rising a revised 0.1% in March (from +0.2%), while export prices excluding agriculture increased 0.7% after holding flat last month (revised from -0.1%).

07:58AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +9.50.

Stocks have been red hot over the last two days and look poised to open today's session a tick higher, as the S&P 500 futures trade three points, or 0.1%, above fair value.

The S&P 500, the Dow, and the Nasdaq hold weekly gains between 2.0% and 2.7%, which puts them on track for their best week since early March. The technology sector has led this week's rally, further distancing itself from the pack on a yearly basis, but the financials, energy, and industrials groups have also put together strong performances.

Earnings season is winding down, as more than 80% of S&P 500 components have reported their quarterly results. There aren't any notable names in today's earnings lineup, but chipmaker NVIDIA (NVDA) did report its quarterly results yesterday evening, beating both top and bottom line estimates. NVIDIA shares are down 1.9% in pre-market trading though after closing at a record high on Thursday.

Today's batch of economic data is also light with just two reports on the docket; April Import/Export Prices will be released at 8:30 AM ET, while the preliminary reading for the University of Michigan Consumer Sentiment Index for May (Briefing.com consensus 98.0) will cross the wires at 10:00 AM ET.

In Washington, President Trump is expected to reveal his long-awaited plan to reduce drug prices sometime this afternoon. Separately, the president announced in a tweet on Thursday that his summit with North Korean Leader Kim Jong Un will be held on June 12 in Singapore.

U.S. Treasuries are a tick higher this morning, pushing yields lower for the second day in a row; the benchmark 10-yr yield is down one basis point at 2.96%.

In U.S. corporate news:

NVIDIA (NVDA 255.28, -4.85): -1.9% despite beating on both the top and bottom lines for Q1 and raising its revenue guidance for Q2.
Verizon (VZ 48.00, +0.80): +1.7% after being upgraded to 'Overweight' from 'Neutral' at JP Morgan.
Symantec (SYMC 21.70, -7.48): -25.6% after announcing that it has relayed concerns from an ex-employee to the SEC.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mixed note. Japan's Nikkei +1.2%, Hong Kong's Hang Seng +1.0%, China's Shanghai Composite -0.4%, India's Sensex +0.8%.
In economic data:
China's April New Loans CNY1.18 trillion (expected CNY1.10 trillion; last CNY1.12 trillion). April M2 Money Stock +8.3% year-over-year (expected 8.5%; last 8.2%)
Japan's M2 Money Stock +3.3% year-over-year (expected 3.2%; last 3.1%)
Australia's March Home Loans -2.2% month-over-month (expected -2.0%; last -0.2%) and March Invest Housing Finance -9.0% month-over-month (last 0.5%)
New Zealand's April FPI +0.1% month-over-month (last 1.0%) and April Business NZ PMI 58.9 (last 52.2)
Hong Kong's Q1 GDP +2.2% quarter-over-quarter (last 0.8%); +4.7% year-over-year (last 3.4%)
In news:
The overnight session was very quiet, with no top-tier data crossing the wires.
China Securities Times reported that the People's Bank of China will have full custody over the reserves of payment companies.

Major European indices trade near their flat lines while the euro is seeking its second consecutive gain. France's CAC -0.3%, Germany's DAX -0.3%, UK's FTSE -0.1%, Italy's MIB +0.4%.
In economic data:
Spain's April CPI +0.8% month-over-month, as expected (last 0.1%); +1.1% year-over-year, as expected (last 1.2%)
In news:
In Italy, a populist, anti-austerity government is taking shape, as Lega and Movimento 5 Stelle expect to nominate a prime minister on Sunday. A Lega-M5S coalition was viewed as the worst-case scenario prior to the election, but capital markets have not shown much concern, even though the prospect is close to becoming reality.
In the UK, the unraveling of the Brexit plan is continuing, with the latest reports indicating Prime Minister Theresa May's cabinet is divided into two groups with opposing views about remaining in the customs union. Recall that the House of Lords voted to remove the official Brexit date from the withdrawal bill earlier this week.

07:31AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +10.80.

07:03AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +9.50.

07:03AM ET
[BRIEFING.COM] Nikkei...22758.5...+261.30...+1.20%. Hang Seng...31122...+312.80...+1.00%.

07:03AM ET
[BRIEFING.COM] FTSE...7693.24...-7.70...-0.10%. DAX...12973.07...-49.80...-0.40%.

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.

Also of note, President Trump said his summit with North Korean Leader Kim Jong Un will be held on June 12 in Singapore.

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.

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

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

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

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

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

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

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

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

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


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