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 Post subject: June 5th Tuesday Price Action Trade Result Profit $2262.50
PostPosted: Tue Jun 05, 2018 10:27 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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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 @ $2262.50 dollars or +45.25 points, Light Crude Oil CL ($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 @ $2262.50 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=181&t=2837

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 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 and the chat room will be useless to you. 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 here at the forum.

Access instructions for the free chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

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=352&t=3733 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 04:15PM ET
Dow: -13.71… | Nasdaq: +31.40… | S&P: +1.93…
NASDAQ Vol: 2.04 bln… Adv: 1889… Dec: 1055…
NYSE Vol: 877.3 mln… Adv: 1742… Dec: 1183…

Moving the Market

Investors hit pause following two-session rally

Financial sector underperforms as Treasury yields drop across the curve

Top-weighted technology group shows relative strength

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

04:15PM ET

[BRIEFING.COM] Stocks ended Tuesday on slightly higher note, with the S&P 500 adding 0.1%. The Nasdaq (+0.4%) and the Russell 2000 (+0.7%) outperformed, finishing at new all-time highs for the second day in a row, but the Dow lagged, closing lower by 0.1%. The major averages kept within pretty narrow ranges on Tuesday due to a lack of market-moving news.

The lightly-weighted materials sector (+0.8%) was the top-performing S&P 500 group, followed by consumer discretionary (+0.6%), information technology (+0.4%), and telecom services (+0.5%). On the flip side, financials (-0.4%) finished with energy (-0.3%), consumer staples (-0.5%), utilities (-0.7%), and real estate (-0.5%) at the bottom of the sector standings. Financials declined in tandem with Treasury yields, which finished lower across the curve. The yield on the benchmark 10-yr Treasury note dropped two basis points to 2.92%.

In corporate news, shares of Starbucks (SBUX 55.68, -1.39) dropped 2.4% after Howard Schultz announced on Monday evening that he's stepping down from his role as executive chairman. Twitter (TWTR 39.80, +1.92) shares, meanwhile, spiked 5.1% after news that the company will be added to the S&P 500 on June 7, and shares of Mylan (MYL 39.98, +1.48) jumped 3.8% after the company received FDA approval for a drug similar to Amgen's (AMGN 181.73, -3.71) Neulasta, which is used to decrease the chance of inflection for chemotherapy patients.

Several retailers made outsized moves on Tuesday, sending the SPDR S&P Retail ETF (XRT 48.49, +0.85) up 1.8% to its best level since late January. The retail rally was helped by Monday comments from Evercore ISI Research, which suggested that fears about Amazon's (AMZN 1696.35, +31.08) ever-growing footprint are overblown. However, Amazon shares also had a solid performance on Tuesday, climbing 1.9% to finish at a new record high.

Overseas, Italian Prime Minister Giuseppe Conte delivered his inaugural address, calling for a universal basic income, a fairer tax system, and the EU to review sanctions against Russia. Italy's major stock index, the MIB, underperformed other European indices, losing 1.2%, and the yield on the Italian 10-yr bond rose 20 basis points to 2.75%.

Reviewing Tuesday's economic data, which was limited to the ISM Services Index for May and the Job Openings and Labor Turnover Survey for April:

The ISM Services Index for May ticked up to 58.6 (Briefing.com consensus 58.0) from an unrevised reading of 56.8 in April.
The key takeaway from the report is that it matched an uptick in the ISM Manufacturing Index for May. The uptick in both will help substantiate the belief that second quarter GDP growth is poised to pick up noticeably from the first quarter.
The April Job Openings and Labor Turnover Survey showed that job openings increased to 6.698 million from a revised 6.633 million (from 6.550 million) in March.

Looking ahead, investors will receive on Wednesday the April Trade Balance (Briefing.com consensus -$48.8 billion), the revised readings for first quarter Productivity (Briefing.com consensus 0.6%) and Unit Labor Costs (Briefing.com consensus 2.8%), and the weekly MBA Mortgage Applications Index.

Nasdaq Composite +10.6% YTD
Russell 2000 +8.4% YTD
S&P 500 +2.8% YTD
Dow Jones Industrial Average +0.3% YTD

Dow: -13.71… | Nasdaq: +31.40… | S&P: +1.93…
NASDAQ Adv/Dec 1889/1055. …NYSE Adv/Dec 1742/1183.

03:30PM ET
[BRIEFING.COM]

Energy Settlement Prices:
July Crude Oil futures rose $0.75 (+1.2%) to $65.51/barrel
July Natural Gas settled $0.04 lower (-1.4%) at $2.89/MMBtu
July RBOB Gasoline settled $0.01 lower at $2.11/gallon
July Heating oil futures settled $0.01 lower at $2.14/gallon
Metals Settlement Prices:
August gold settled today's session up $5.10 (0.4%) at $1302.30/oz
July silver settled today's session $0.11 higher (0.7%) at $16.55/oz
July copper settled $0.06 higher (2%) at $3.20/lb
Agriculture Settlement Prices:
May corn settled $0.03 higher at $3.84/bushel
May wheat settled $0.02 higher at $5.09/bushel
May soybeans settled $0.01 lower at $10.02/bushe

Dow: -25.14… | Nasdaq: +23.27… | S&P: +0.61…
NASDAQ Adv/Dec 1834/1135. …NYSE Adv/Dec 1681/1240.

02:55PM ET

[BRIEFING.COM] The tech-heavy Nasdaq (+0.4%) and the small-cap Russell 2000 (+0.5%) are on course to close at new records for the second straight session moving into the final stretch. Meanwhile, the S&P 500 is up 0.1%, challenging its best mark of the day, and the Dow Jones Industrial Average is flat.

Five of eleven sectors are trading in positive territory, including consumer discretionary (+0.6%), industrials (+0.2%), materials (+0.9%), technology (+0.4%), and telecom services (+0.4%). On the flip side, the consumer staples (-0.4%) and utilities (-0.5%) sectors are at the bottom of today's leaderboard.

Looking ahead, there are only a few notable names on tomorrow's earnings calendar, including Signet Jewelers (SIG 43.88, +0.18) and Vera Bradley (VRA 13.19, +0.44), both of which will report before the opening bell.
Dow: +16.65… | Nasdaq: +32.47… | S&P: +4.37…
NASDAQ Adv/Dec 1853/990. …NYSE Adv/Dec 1767/1145.

02:30PM ET

[BRIEFING.COM] The S&P 500 has recently peeked its head above flat lines with the Dow and the Nasdaq still trade on either side of unchanged levels.

The consumer discretionary (+0.6%) sector continues yesterday's strength with an equally solid session on Tuesday. Apparel names Gap (GPS 31.55, +2.36, +8.1%), L Brands (LB 37.07, +1.27, +3.6%), and Nordstrom (JWN 51.67, +0.72, +1.4%) are enjoying an especially solid Tuesday affair as the trio stretches their winning streak to three.

Department stores also show relative strength with Target (TGT 78.68, +2.33, +3.1%), TJX (TJX 93.79, +0.84, +0.9%), Macy's (M 40.04, +2.93, +7.9%), and Ross Stores (ROST 84.28, +1.14, +1.4%) all outperforming today.

The SPDR Retail ETF (XRT 48.50, +0.86, +1.8%) is also on pace for a third-straight win on Tuesday, stretching its gain over that period to about 4.6%.
Dow: -7.63… | Nasdaq: +24.46… | S&P: +0.40…
NASDAQ Adv/Dec 1774/1025. …NYSE Adv/Dec 1724/1173.

02:00PM ET

[BRIEFING.COM] The major averages are little changed since our last update; the Nasdaq Composite still leads with a 0.3% move to the upside.

After three straight down days gold futures moved up as the greenback pared its opening gains. The yellow metal settled 0.4% higher on Tuesday at $1,302.20/oz.

For its part the U.S. Dollar Index now shows a 0.2% loss at 93.83 after being up 0.3% at today's highs.
Dow: -24.99… | Nasdaq: +20.79… | S&P: -0.12…
NASDAQ Adv/Dec 1742/1049. …NYSE Adv/Dec 1640/1220.

01:35PM ET

[BRIEFING.COM] The major U.S. indices are currently trading mixed with stocks having recovered from late morning selling pressure.

A look inside the Dow Jones Industrial Average shows that Wal-Mart (WMT 84.46, -0.96), Intel (INTC 56.30, -0.53), & Travelers (TRV 128.68, -1.04) are underperforming. Wal-Mart is leading the Dow lower as shares cool off following yesterday's 3% jump, while Travelers is under pressure as financials lag in today's session.

Conversely, DowDuPont (DWDP 68.11, +0.98) is the best-performing Dow component as materials display relative strength.

At current levels, the DJIA is +0.58% this week.
Dow: -34.21… | Nasdaq: +18.59… | S&P: -0.19…
NASDAQ Adv/Dec 1707/1078. …NYSE Adv/Dec 1622/1250.

12:55PM ET

[BRIEFING.COM] It's been a quiet day on Wall Street thus far. The benchmark S&P 500 has been hovering near its unchanged mark since the opening bell and is currently showing a loss of 0.1%. Meanwhile, the Nasdaq Composite (+0.1%) is a step ahead, and the Dow Jones Industrial Average (-0.2%) is a step behind.

The S&P 500 sectors are pretty evenly mixed between green and red, but gains and losses have been modest for the most part. The lightly-weighted materials sector (+0.7%) is the top-performing group by a comfortable margin, while the heavily-weighted financials space (-0.7%) is at the back of the pack. Financials have slid in tandem with Treasury yields, which are down across the curve. The yield on the benchmark 10-yr Treasury note is down four basis points at 2.90%, returning to its flat line for the week.

Meanwhile, the health care sector (-0.4%) is also relatively weak, with Amgen (AMGN 180.51, -4.93) down 2.6% after Mylan (MYL 40.60, +2.10) received FDA approval for a drug similar to Amgen's Neulasta, which is used to decrease the chance of inflection for chemotherapy patients. MYL shares have spiked 5.5%.

In other corporate news, Starbucks (SBUX 55.90, -1.17) is down 2.1% after Howard Schultz announced on Monday evening that he's stepping down from his role as executive chairman, and Twitter (TWTR 39.75, +1.87) is up 5.0% following news that it will be added to the S&P 500 on June 7.

Elsewhere, West Texas Intermediate crude futures have reversed course today, exchanging modest losses for modest gains, and are currently up 0.6% at $65.13 per barrel. Meanwhile, the U.S. Dollar Index is a tick lower, down 0.1% at 93.91, and on track for its fourth loss in five sessions.

Reviewing today's economic data, which was limited to the ISM Services Index for May and the Job Openings and Labor Turnover Survey for April:

The ISM Services Index for May ticked up to 58.6 (Briefing.com consensus 58.0) from an unrevised reading of 56.8 in April.
The key takeaway from the report is that it matched an uptick in the ISM Manufacturing Index for May. The uptick in both will help substantiate the belief that second quarter GDP growth is poised to pick up noticeably from the first quarter.
The April Job Openings and Labor Turnover Survey showed that job openings increased to 6.698 million from a revised 6.633 million (from 6.550 million) in March.

Dow: -65.64… | Nasdaq: +8.54… | S&P: -2.94…
NASDAQ Adv/Dec 1581/1205. …NYSE Adv/Dec 1484/1347.

12:25PM ET

[BRIEFING.COM] Equity indices continue to trade mostly lower, with the S&P 500 down 0.2%.

Shares of Tapestry (TPR 44.84, -0.31), which owns the Kate Spade brand, have been volatile in recent trade following news that Kate Valentine (previously known as Kate Spade) has passed away. TPR shares are currently down 0.8%, while retailers outperform overall. The SPDR S&P Retail ETF (XRT 48.23, +0.59) is up 1.2%.

The consumer discretionary sector, which houses retailers, is currently up 0.2%, extending its weekly gain to 1.3%.
Dow: -77.50… | Nasdaq: -0.41… | S&P: -4.38…
NASDAQ Adv/Dec 1487/1280. …NYSE Adv/Dec 1423/1434.

11:55AM ET

[BRIEFING.COM] Stocks have been ticking lower in recent trading, pushing the S&P 500 about 0.2% below its Monday close.

The heavily-weighted financials and health care sectors, which comprise around 30% of the broader market combined, are underperforming today, showing respective losses of 0.8% and 0.6%. Financial shares are moving lower in tandem with Treasury yields, while health care giants like UnitedHealth (UNH 242.00, -2.63), Merck (MRK 61.12, -0.90), and Amgen (AMGN 180.12, -5.28) are weak, showing losses between 1.1% and 2.9%.

In Europe, the major indices settled Tuesday mixed. France's CAC and the UK's FTSE lost 0.2% and 0.7%, respectively, while Germany's DAX added 0.1%.
Dow: -82.40… | Nasdaq: +3.91… | S&P: -5.42…
NASDAQ Adv/Dec 1492/1252. …NYSE Adv/Dec 1333/1483.

11:25AM ET

[BRIEFING.COM] The major averages continue drifting near their unchanged marks.

In corporate news, Starbucks (SBUX 55.88, -1.18) is down 2.1% after Howard Schultz announced on Monday evening that he's stepping down from his role as executive chairman. Meanwhile, Twitter (TWTR 59.88, +2.00) is up 5.3% following news that it will be added to the S&P 500 on June 7, and Mylan (MYL 40.97, +2.48) is higher by 6.4% after receiving FDA approval for a drug similar to Amgen's (AMGN 180.15, -5.29) Neulasta, which is used to decrease the chance of inflection for chemotherapy patients.

In currencies, the U.S. Dollar Index is a tick higher this morning, up 0.1% at 94.11, after declining in three of the last four sessions.
Dow: -50.28… | Nasdaq: +13.40… | S&P: -1.50…
NASDAQ Adv/Dec 1510/1227. …NYSE Adv/Dec 1362/1438.

10:55AM ET

[BRIEFING.COM] The Nasdaq is up 0.3%, the S&P 500 is flat, and the Dow is down 0.2% in what's been a quiet start to today's session.

Six S&P sectors are in the green, including consumer discretionary (+0.3%), industrials (unch), materials (+0.7%), technology (+0.4%), telecom services (+0.5%), and real estate (+0.2%), while five are in the red, including financials (-0.6%), energy (-0.4%), utilities (unch), health care (-0.2%), and consumer staples (-0.4%).

In the bond market, U.S. Treasuries are still higher, with the yield on benchmark 10-yr Treasury note down two basis points at 2.92%.
Dow: -36.45… | Nasdaq: +21.59… | S&P: +0.83…
NASDAQ Adv/Dec 1563/1117. …NYSE Adv/Dec 1411/1349.

10:35AM ET
[BRIEFING.COM]

Commodities are beginning the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.2% at 89.29
Dollar index is currently +0.2% at 94.25
Looking at energy...
July WTI crude oil futures are now +$0.03 at $64.78/barrel
In other energy, Jul natural gas is -$0.04 at $2.89/MMBtu
Moving on to metals...
June gold is currently +$0.10 at $1298.20/oz, while Jul silver is +$0.03 at $16.46/oz
Jul copper is now +$0.04 at $3.18/lb

Dow: -18.54… | Nasdaq: +30.15… | S&P: +2.85…
NASDAQ Adv/Dec 1681/962. …NYSE Adv/Dec 1557/1191.

10:00AM ET

[BRIEFING.COM] Equity indices continue to drift near their unchanged marks.

Just in, the ISM Services Index for May ticked up to 58.6 (Briefing.com consensus 58.0) from an unrevised reading of 56.8 in April.

Separately, the April Job Openings and Labor Turnover Survey showed that job openings increased to 6.698 million from a revised 6.633 million (from 6.550 million) in March.


Dow: -8.09… | Nasdaq: +28.59… | S&P: +2.55…
NASDAQ Adv/Dec 1657/902. …NYSE Adv/Dec 1495/1154.

09:40AM ET

[BRIEFING.COM] The major averages are little changed in the opening minutes of today's session, with the Nasdaq (+0.2%) showing relative strength.

Most S&P 500 sectors are trading within 0.2% of their flat lines this morning. The technology (+0.3%) and materials (+0.6%) sectors are at the top of the sector standings, while the financials (-0.4%) and energy (-0.3%) groups are at the back of the pack.

As a reminder, the ISM Services Index for May (Briefing.com consensus 58.0) and the Job Openings and Labor Turnover Survey for April will be released at 10:00 AM ET.
Dow: -3.56… | Nasdaq: +15.83… | S&P: +1.01…
NASDAQ Adv/Dec 1528/917. …NYSE Adv/Dec 1430/1109.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +14.80.

Wall Street is on course for a flat open, as the S&P 500 futures are trading a tick below fair value.

In corporate news, Starbucks (SBUX 56.51, -0.56) is down 1.0% in pre-market trading after Howard Schultz announced he's stepping down from his role as executive chairman. Conversely, Navistar (NAV 40.25 +1.74) is up 4.5% after beating bottom-line estimates for fiscal Q2 and raising its guidance for fiscal 2018.

Meanwhile, U.S. Treasuries are higher, pushing the yield on the benchmark 10-yr Treasury note down four basis points to 2.90%.

Today's economic data is limited. Investors will receive just two economic reports, the ISM Services Index for May (Briefing.com consensus 58.0) and the Job Openings and Labor Turnover Survey for April, both of which will cross the wires at 10:00 AM ET. However, neither report is expected to have a material impact on trading.

08:51AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: +11.80.

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

Equity indices in the Asia-Pacific region ended Tuesday on a higher note. Bank of Japan Deputy Governor Masazumi Wakatabe said the Bank of Japan will not start selling JGBs if/when policymakers decide to wind down quantitative easing. Mr. Wakatabe added that he does not believe the BoJ should buy U.S. Treasuries as part of its monetary policy. The Reserve Bank of Australia left its official cash rate at 1.50%, as expected. The market does not expect the RBA to hike rates before October 2019.

In economic data:
China's May Caixin Services PMI 52.9, as expected (last 52.9)
Hong Kong's May Manufacturing PMI 47.8 (last 49.1)
Australia's Q1 Current Account -AUD10.50 billion (expected -AUD10.00 billion; last -AUD14.70 billion). Q1 Net Exports Contribution 0.3% (expected 0.5%; last -0.5%). May AIG Services Index 59.0 (last 55.2)
Japan's April Household Spending -1.6% month-over-month (expected 0.7%; last -0.1%); -1.3% year-over-year (expected 0.8%; last -0.7%)
India's May Nikkei Services PMI 49.6 (last 51.4)

---Equity Markets---

Japan's Nikkei added 0.3%. Astellas Pharma, Softbank, Dainippon Screen Manufacturing, DOWA Holdings, Trend Micro, Alps Electric, Yamaha, Sony, Takeda Pharmaceutical, Fanuc, Okuma, and TDK rose between 0.8% and 2.4%.
Hong Kong's Hang Seng also rose 0.3%. Property names like China Overseas, China Resources Land, and Sino Land jumped between 1.6% and 4.0%. Country Garden Holdings, Sunny Optical Tech, and AAC Technologies posted gains between 1.2% and 3.3%. Henderson Land was the weakest performer, falling 10.8%.
China's Shanghai Composite gained 0.7%. GuangYuYuan Chinese Herbal Medicine, Jiangsu Hengrui Medicine, Zhangzhou Peintzehuang Pharmaceutical, Sanan Optoelectronics, and China Animal Husbandry Industry climbed between 5.5% and 9.3%.
India's Sensex shed 0.3%. Coal India, Larsen & Toubro, Dr. Reddy's Labs, Yes Bank, Infosys, Tata Consultancy, AXIS Bank, and ICICI Bank lost between 0.8% and 2.4%.

Major European indices trade in mixed fashion with the UK's FTSE (-0.4%) showing relative weakness. British Prime Minister Theresa May will not present a blueprint for a future relationship with the EU to European leaders. Instead, the British government will publish a 150-page white paper after the conclusion of the European Council meeting on June 29. In Italy, Prime Minister Giuseppe Conte delivered his inaugural address, calling for the implementation of a universal basic income and a fairer tax system. Mr. Conte also called on the European Union to review sanctions against Russia. Italian debt slid to lows during Mr. Conte's speech, lifting the country's 10-yr yield ten basis points to 2.66%.

In economic data:
Eurozone April Retail Sales +0.1% month-over-month (expected 0.5%; last 0.4%); +1.7% year-over-year, as expected (last 1.5%). May Services PMI 53.8 (expected 53.9; last 53.9)
UK's May Services PMI 54.0 (expected 52.9; last 52.8)
Germany's May Services PMI 52.1, as expected (last 52.1)
France's May Services PMI 54.3, as expected (last 54.3). April budget balance -EUR54.30 billion (last -EUR33.10 billion)
Italy's May Services PMI 53.1 (expected 52.9; last 52.6)
Spain's May Services PMI 56.4, as expected (last 55.6)

---Equity Markets---

UK's FTSE is lower by 0.4%. Financials like RBS, Old Mutual, Provident Financial, Barclays, RSA Insurance, Direct Line Insurance, and Lloyds Banking are down between 1.1% and 4.3%. On the upside, consumer names like Dixons Carphone, Kingfisher, Burberry, and Next are up between 0.5% and 2.0%.
France's CAC trades up 0.5% amid gains in most components. STMicroelectronics leads, rising 4.1%. Consumer names like Accor, Pernod Ricard, Louis Vuitton, Kering, Danone, and L'Oreal have climbed between 0.8% and 2.5%.
Germany's DAX is higher by 1.0%. Infineon is up 3.6% while heavyweights like Deutsche Bank, SAP, Volkswagen, BASF, BMW, Siemens, and Daimler sport gains between 1.0% and 1.8%.

08:27AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +12.50.

The S&P 500 futures have been ticking lower and are now trading one point below fair value.

Today's economic data is limited. Investors will receive just two economic reports, the ISM Services Index for May (Briefing.com consensus 58.0) and the Job Openings and Labor Turnover Survey for April, both of which will cross the wires at 10:00 AM ET. However, neither report is expected to have a material impact on trading.

The American Petroleum Institute will release its weekly crude oil inventory report following today's closing bell at 4:30 PM ET. West Texas Intermediate crude futures are down 0.6% at $64.38 per barrel, hovering at an eight-week low, ahead of the API release.

07:55AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +17.80.

Equities started the week with a broad-based rally on Monday, but the bullish momentum has faded this morning. Futures are pointing towards a flat to slightly higher open, with the S&P 500 futures currently trading two points, or 0.1%, above fair value.

Overseas, Asian equity indices finished Tuesday on a modestly higher note, with China's Shanghai Composite (+0.7%) showing relative strength, but the major European bourses are currently trading mixed. Germany's DAX and France's CAC are up 1.2% and 0.7%, respectively, while the UK's FTSE is lower by 0.3%.

U.S. Treasuries are higher this morning, reclaiming a portion of yesterday's declines and pushing yields lower across the curve. The yield on the benchmark 10-yr Treasury note is down two basis points at 2.92%, and the yield on the 2-yr Treasury note is also down two basis points, hovering at 2.49%.

Meanwhile, WTI crude futures are down 0.8% at $64.28/bbl, hitting a new eight-week low, and the U.S. Dollar Index is up 0.1% at 94.09.

Investors will receive just two economic reports today, the ISM Services Index for May (Briefing.com consensus 58.0) and the Job Openings and Labor Turnover Survey for April, both of which will cross the wires at 10:00 AM ET.

In U.S. corporate news:

Starbucks (SBUX 56.49, -0.58): -1.0% after Howard Schultz announced he's stepping down from his role as executive chairman.
Ulta Beauty (ULTA 251.92, -4.68): -1.8% after shares were downgraded to 'Neutral' from 'Buy' at Goldman.
Navistar (NAV 41.90, +3.39): +8.8% after beating bottom-line estimates for fiscal Q2 and raising its guidance for fiscal 2018.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a higher note. Japan's Nikkei +0.3%, Hong Kong's Hang Seng +0.3%, China's Shanghai Composite +0.7%, India's Sensex -0.3%.
In economic data:
China's May Caixin Services PMI 52.9, as expected (last 52.9)
Hong Kong's May Manufacturing PMI 47.8 (last 49.1)
Australia's Q1 Current Account -AUD10.50 billion (expected -AUD10.00 billion; last -AUD14.70 billion). Q1 Net Exports Contribution 0.3% (expected 0.5%; last -0.5%). May AIG Services Index 59.0 (last 55.2)
Japan's April Household Spending -1.6% month-over-month (expected 0.7%; last -0.1%); -1.3% year-over-year (expected 0.8%; last -0.7%)
India's May Nikkei Services PMI 49.6 (last 51.4)
In news:
Bank of Japan Deputy Governor Masazumi Wakatabe said the Bank of Japan will not start selling JGBs if/when policymakers decide to wind down quantitative easing. Mr. Wakatabe added that he does not believe the BoJ should buy U.S. Treasuries as part of its monetary policy.
The Reserve Bank of Australia left its official cash rate at 1.50%, as expected. The market does not expect the RBA to hike rates before October 2019.

Major European indices trade in mixed fashion with the UK's FTSE (-0.3%) showing relative weakness. France's CAC +0.7%, Germany's DAX +1.2%.
In economic data:
Eurozone April Retail Sales +0.1% month-over-month (expected 0.5%; last 0.4%); +1.7% year-over-year, as expected (last 1.5%). May Services PMI 53.8 (expected 53.9; last 53.9)
UK's May Services PMI 54.0 (expected 52.9; last 52.8)
Germany's May Services PMI 52.1, as expected (last 52.1)
France's May Services PMI 54.3, as expected (last 54.3). April budget balance -EUR54.30 billion (last -EUR33.10 billion)
Italy's May Services PMI 53.1 (expected 52.9; last 52.6)
Spain's May Services PMI 56.4, as expected (last 55.6)
In news:
British Prime Minister Theresa May will not present a blueprint for a future relationship with the EU to European leaders. Instead, the British government will publish a 150-page white paper after the conclusion of the European Council meeting on June 29.
In Italy, Prime Minister Giuseppe Conte delivered his inaugural address, calling for the implementation of a universal basic income and a fairer tax system. Mr. Conte also called on the European Union to review sanctions against Russia. Italian debt slid to lows during Mr. Conte's speech, lifting the country's 10-yr yield ten basis points to 2.66%.

07:32AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +19.30.

06:57AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +21.50.

06:57AM ET
[BRIEFING.COM] Nikkei...22540...+63.60...+0.30%. Hang Seng...31093.45...+95.50...+0.30%.

06:57AM ET
[BRIEFING.COM] FTSE...7698.65...-42.60...-0.60%. DAX...12877...+106.50...+0.80%.

04:15PM ET

[BRIEFING.COM] The equity market kicked off the week with a quiet victory on Monday, adding to last week's advance. The tech-heavy Nasdaq climbed 0.7% to 7606.46, closing at a new record high for the first time since March 12. Meanwhile, the S&P 500 and the Dow advanced 0.5% and 0.7%, respectively. The Russell 2000 lagged, adding just 0.3%, but still finished at a new all-time high.

Gains were broad-based on Monday, with seven of eleven S&P 500 sectors settling in positive territory. Consumer discretionary (+1.1%) was the top-performing sector, followed closely by information technology (+0.9%), consumer staples (+0.8%), and real estate (+1.0%).

Within the tech space, Apple (AAPL 191.83, +1.59) climbed 0.8%, closing at a new all-time high, as investors focused on the company's WorldWide Developers Conference (WWDC), and Microsoft (MSFT 101.67, +0.88) advanced 0.9%, also settling at a new record, after announcing that it will acquire GitHub for $7.5 billion in stock.

Meanwhile, retailers helped underpin the consumer discretionary and consumer staples sectors and pushed the SPDR S&P Retail ETF (XRT 47.64, +1.02) up 2.2% to a fresh four-month high. Walmart (WMT 85.42, +2.43), Home Depot (HD 191.36, +4.01), and Target (TGT 76.35, +3.55) were notable outperformers, adding between 2.1% and 4.9%.

On the downside, energy (-0.9%) finished at the bottom of the sector standings as crude prices dropped yet again. WTI crude futures declined by 1.6% to $64.76 per barrel, finishing 10.4% below the three-and-a-half year high they hit on May 21. The utilities (-0.9%), industrials (-0.1%), and telecom (-0.1%) groups also settled in the red.

In the health care space (+0.4%), Nektar Therapeutics (NKTR 52.57, -37.78) plunged 41.8% following disappointing clinical trial results for its drug NKTR-214, which is being used in combination with Bristol-Myers Squibb's (BMY 51.45, -1.68) cancer drug Opdivo. Conversely, Dow component Merck (MRK 62.02, +1.46) jumped 2.4% after another round of positive trial results for its star cancer drug Keytruda.

Outside of equities, U.S. Treasuries began the week on a lower note, sending yields higher across the curve. The yield on the benchmark 10-yr Treasury note, for instance, climbed four basis points to 2.94%. Meanwhile, the U.S. Dollar Index declined 0.2% to 94.02, marking its third loss in four sessions.

Reviewing Monday's economic data, which was limited to the Factory Orders report for April:

The Factory Orders report for April showed a decrease of 0.8% (Briefing.com consensus -0.5%). The March reading was revised to +1.7% from +1.6%.
The key takeaway from the report is that shipments of nondefense capital goods excluding aircraft were slightly higher than what was seen in the Advance Durable Goods Orders Report for April, so this will provide an added dose of support for Q2 GDP growth forecasts.

Looking ahead, investors will receive the ISM Services Index for May and the Job Openings and Labor Turnover Survey for April on Tuesday.

Nasdaq Composite +10.2% YTD
Russell 2000 +7.7% YTD
S&P 500 +2.7% YTD
Dow Jones Industrial Average +0.4% YTD

Dow: +178.48… | Nasdaq: +52.13… | S&P: +12.25…
NASDAQ Adv/Dec 1663/1253. …NYSE Adv/Dec 1908/1013.

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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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