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 Post subject: June 11th Monday Price Action Trade Result Profit $662.50
PostPosted: Tue Jun 12, 2018 5:10 am 
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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
Users of WRB Analysis Real-Time Trades - TheStrategyLab Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Users of WRB Analysis 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 ES ($ES_F) futures @ $662.50 dollars or +13.25 points, Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $662.50 dollars

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=181&t=2846

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 along with the real-time trades by other users of WRB Analysis for anyone to do a real-time review (you must be a member of the chat room for a real-time review). Also, as stated since the birth of the free chat room TheStrategyLab...we are not a signal calling trade alert room. Thus, there is no trader telling you what to trade, when to buy and when to sell. 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 at the above direct link to the archived chat log.

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.

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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: +5.78… | Nasdaq: +14.41… | S&P: +2.97…
NASDAQ Vol: 1.93 mln… Adv: 1617… Dec: 1350…
NYSE Vol: 784.6 mln… Adv: 1591… Dec: 1308…
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Moving the Market

Caution ahead of historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un, which will start around 9:00 PM ET

Retailers rally yet again; SPDR S&P Retail ETF (XRT) now up 8.0% for the month

Sector Watch
Strong: Energy, Consumer Staples, Telecom Services
Weak: Financials, Utilities

04:30PM ET

[BRIEFING.COM] U.S. equities eked out a slim victory on Monday as investors shrugged off a contentious Group of Seven meeting and looked ahead to a historic summit between President Donald Trump and North Korean leader Kim Jong Un. The S&P 500 was up 0.3% with just 10 minutes to go, but a late bout of selling left the index with a gain of 0.1%.

Mr. Trump's meeting with Mr. Kim is scheduled to begin in Singapore at around 9:00 PM ET and will mark the first time that a sitting U.S. president has met with a North Korean leader. The two sides will attempt to come to some sort of agreement on denuclearization that'll likely require security assurances from the U.S. However, the chance of success remains unclear as officials engaged in last-minute talks ahead of the meeting are reportedly struggling to bridge the gaps on some of the most basic issues, according to The New York Times.

Separately, the annual Group of Seven summit over the weekend ended on a contentious note after President Trump decided to forego signing a joint statement in response to comments from Canadian Prime Minister Justin Trudeau, who vowed to retaliate against Mr. Trump's recently imposed tariffs on steel and aluminum imports.

Most S&P 500 sectors finished Monday with modest gains. However, the telecom services and consumer staples groups outperformed, adding 0.7% and 0.8%, respectively. The health care sector (+0.1%), meanwhile, finished roughly in line with the broader market even though Boston Scientific (BSX 34.32, +2.37) soared 7.4% on news that rival Stryker (SYK 169.78, -9.17) has made a takeover approach.

Retailers had another positive outing, pushing the SPDR S&P Retail ETF (XRT 50.07, +0.52) higher by 1.1%. With Monday's advance, the XRT is now up 8.0% for the month of June, nearly triple the S&P 500's month-to-date gain of 2.8%. The consumer discretionary sector, which houses the bulk of retailers, finished with a gain of 0.3%.

On the downside, the utilities and financials spaces were the weakest performers, shedding 0.3% apiece.

Elsewhere, U.S. Treasuries ended Monday on a lower note, pushing yields higher across the curve. The yield on the benchmark 10-yr Treasury note advanced two basis points to 2.96%. Meanwhile, West Texas Intermediate crude futures climbed 0.5% to $66.11 per barrel, hitting their best level in more than a week.

Investors didn't receive any notable economic data on Monday. However, they will receive several reports on Tuesday, including the Consumer Price Index for May (Briefing.com consensus +0.3%), the Treasury Budget for May, and the NFIB Small Business Optimism Index for May.

Nasdaq Composite +11.0% YTD
Russell 2000 +9.1% YTD
S&P 500 +4.1% YTD
Dow Jones Industrial Average +2.4% YTD

Dow: +5.78… | Nasdaq: +14.41… | S&P: +2.97…
NASDAQ Adv/Dec 1617/1350. …NYSE Adv/Dec 1591/1308.

03:40PM ET

[BRIEFING.COM] Energy Settlement Prices:

July Crude Oil futures rose $0.35 (0.53%) to $66.11/barrel
August Natural Gas settled $0.06 higher (2.08%) at $2.95/MMBtu
July RBOB Gasoline settled $0.01 lower (-0.47%) at $2.11/gallon
July Heating oil futures settled $- higher (0%) at $2.16/gallon

Metals Settlement Prices:

Aug gold settled today's session up $0.90 (0.07%) at $1303.50/oz
Jul silver settled today's session $0.04 higher (1.25%) at $16.95/oz
Jul copper settled $0.04 lower (1.21%) at $3.26/lb

Agriculture Settlement Prices:

July corn settled $0.10 lower at $3.67/bushel
July wheat settled $0.08 lower at $5.15/bushel
July soybeans settled $0.16 lower at $9.53/bushe

Dow: +56.27… | Nasdaq: +26.34… | S&P: +8.70…
NASDAQ Adv/Dec 1700/1267. …NYSE Adv/Dec 1720/1185.

03:00PM ET

[BRIEFING.COM] Equity indices are modestly higher moving into the final stretch, sporting gains of around 0.3% apiece.

Eight sectors are in the green, including consumer discretionary (+0.5%), industrials (+0.3%), energy (+0.8%), materials (+0.1%), technology (+0.2%), health care (+0.3%), consumer staples (+0.8%), and telecom services (+0.9%), while three are in the red, including financials (-0.2%), utilities (-0.4%), and real estate (-0.1%).

Looking ahead to tonight's earnings, Dave & Busters (PLAY 47.47, -0.15) and Restoration Hardware (RH 118.72, +5.44) will report following today's closing bell.
Dow: +53.04… | Nasdaq: +24.42… | S&P: +8.24…

02:30PM ET

[BRIEFING.COM] The broader market continues to hold its lines with the Nasdaq Composite still in the lead, up about 0.3%.

Glancing at the S&P 500 sectors, leading trade still on Monday the lightly-weighted telecom services (+0.9%) and consumer staples (+0.8%) groups show relative outperformance. As it were, the three constituents in the telecom sector -- AT&T (T 34.22, +0.39, +1.2%), CenturyLink (CTL 17.85, +0.20, +1.2%), and Verizon (VZ 49.55, +0.37, +0.8%) -- all post gains to start the week.

Not to be outdone, the consumer staples sector's Philip Morris International (PM 80.54, +1.12, +1.4%), Altria (MO 58.35, +0.64, +1.1%), CVS Health (CVS 67.09, +1.06, +1.6%), Kraft Heinz (KHC 59.71, +1.24, +2.1%), and General Mills (GIS 44.27, +1.36, +3.2%) turn in decent sessions of their own. Shares of PM have enjoyed modest gains today due in part to a favorable sell side note from Consumer Edge Research out this morning, while MO's stock followed suit -- albeit on a less bullish note out of Consumer Edge.

In a broader sense, the iShares U.S. Telecommunications ETF (IYZ 27.83, +0.14, +0.5%) and the Consumer Staples SPDR (XLP 51.27, +0.44, +0.9%), too, display relative strength.
Dow: +55.50… | Nasdaq: +20.07… | S&P: +7.08…
NASDAQ Adv/Dec 1561/1333. …NYSE Adv/Dec 1579/1284.

02:05PM ET

[BRIEFING.COM] The major averages still hold a broadly higher trade on Monday.

Gold futures settled little changed on Monday at $1,303.20/oz. Trading in the yellow metal was modestly higher to start the week as investors eye tonight's meeting between President Donald Trump and North Korean leader Kim Jong Un in Singapore. The meeting marks the first time a North Korean leader has met with a sitting U.S. president. The two leaders are expected to discuss the possibility of denuclearizing North Korea in exchange for the removal of U.S. sanctions.

The modestly higher move in gold today came while the dollar split action above and below flat lines, up less than 0.1% at 93.58 currently.
Dow: +54.73… | Nasdaq: +20.25… | S&P: +8.89…
NASDAQ Adv/Dec 1545/1343. …NYSE Adv/Dec 1558/1267.

01:35PM ET

[BRIEFING.COM] The major U.S. indices are broadly higher to begin the trading week as investors shake off this weekend's tumultuous G7 meeting and turn their attention to President Trump's summit with North Korea's Kim.

A look inside the Dow Jones Industrial Average shows that UnitedHealth Group (UNH 254.70, +4.02), Chevron (CVX 127.83, +1.39), & Verizon (VZ 49.61, +0.43) are outperforming. UnitedHealth is leading the Dow after being initiated with a Buy at SunTrust.

Conversely, McDoanld's (MCD 166.77, -2.14) is the worst-performing Dow component as shares cool off in the wake of last week's relative strength.

As stocks continue higher, the DJIA is now +3.96% this month.

Elsewhere, at the top of the hour, the Treasury's $22 bln 10-year note reopening drew a high yield of 2.962% on a bid-to-cover of 2.59.
Dow: +76.58… | Nasdaq: +26.86… | S&P: +9.40…
NASDAQ Adv/Dec 1530/1346. …NYSE Adv/Dec 1567/1280.

12:55PM ET

[BRIEFING.COM] Stocks have been ticking higher over the last two hours of trading, slowly extending their slim opening gains, as investors look ahead to the historic summit between U.S. President Donald Trump and North Korean Leader Kim Jong Un, which will begin in Singapore at around 9:00 PM ET. The S&P 500 and the Nasdaq are currently up 0.4% apiece, while the Dow is sporting a gain of 0.3%.

10 of the 11 S&P 500 sectors are in positive territory, but gains have been modest for the most part. The lightly-weighted telecom services sector is at the top of the sector standings with a gain of 1.0%, followed by the consumer staples (+0.7%) and consumer discretionary (+0.6%) sectors, which have once again been helped by retailers. The SPDR S&P Retail ETF (XRT 50.10, +0.55) is up 1.1%, extending its month-to-date gain to an impressive 8.0%.

Meanwhile, the health care sector (+0.5%) is also outperforming, led by Boston Scientific (BSX 35.01, +3.06), which has jumped 9.6% following news that rival Stryker (SYK 173.43, -5.44) has made a takeover approach to BSX. Dow component UnitedHealth (UNH 254.46, +3.78) is also exhibiting relative strength, up 1.5%, after being initiated with a 'Buy' rating at SunTrust.

On the downside, the rate-sensitive utilities sector (-0.1%) is struggling to keep pace as Treasury yields rise across the curve. The yield on the benchmark 10-yr Treasury note is up two basis points at 2.96%, and the yield on the 2-yr Treasury note is up five basis points at 2.53%, a nearly three-week high.

Recapping this weekend's G7 summit in Canada, President Trump feuded with Canadian Prime Minister Justin Trudeau, who called recently imposed U.S. tariffs "insulting" and vowed to proceed with retaliatory measures. President Trump responded by withdrawing the U.S. from the official joint G7 statement and by saying the U.S. will be looking at tariffs on autos flooding the U.S. market.

Investors did not receive any notable economic data today.
Dow: +78.66… | Nasdaq: +27.57… | S&P: +10.58…
NASDAQ Adv/Dec 1584/1266. …NYSE Adv/Dec 1631/1221.

12:25PM ET

[BRIEFING.COM] The major averages have continued to move higher and are currently hovering at their best marks of the day. The S&P 500 is up 0.4%

Retailers are strong once again today, pushing the SPDR S&P Retail ETF (XRT 50.10, +0.54) higher by 1.1% and extending its monthly gain to an impressive 8.0%. Well-known names like Target (TGT 79.00, +0.99), Best Buy (BBY 73.67, +1.36), AutoZone (AZO 689.96, +15.97), and Gap (GPS 32.76, +1.02) are up between 1.3% and 3.2%.

In the bond market, U.S. Treasury yields are still higher, with the benchmark 10-yr yield up one basis point at 2.95%.
Dow: +58.42… | Nasdaq: +31.11… | S&P: +10.23…
NASDAQ Adv/Dec 1628/1216. …NYSE Adv/Dec 1677/1158.

11:55AM ET

[BRIEFING.COM] Stocks have ticked up to new session highs in recent trade, with the S&P 500 extending its gain to 0.3% from 0.1%.

The heavily-weighted health care sector (+0.6%) is behind telecom services (+1.0%) at the top of today's sector standings. Within the group, Dow component UnitedHealth (UNH 253.91, +3.23) is higher by 1.2% after being initiated with a 'Buy' rating at SunTrust, and Boston Scientific (BSX 35.65, +3.70) is up 11.5% after reports that Stryker (SYK 174.70, -4.25) has made a takeover approach.

In Europe, the major stock indices finished Monday on a higher note, adding between 0.4% and 0.9%. Italy's MIB outperformed, surging 3.4%.
Dow: +47.47… | Nasdaq: +18.00… | S&P: +8.25…
NASDAQ Adv/Dec 1578/1248. …NYSE Adv/Dec 1658/1155.

11:25AM ET

[BRIEFING.COM] The major averages are still drifting along, hovering near their unchanged marks.

10 of 11 S&P 500 sectors are trading within 0.5% of their flat lines this morning, with the lightly-weighted telecom services space (+1.4%) being the lone exception. Wireless giants Verizon (VZ 49.77, -0.59) and AT&T (T 34.36, +0.54) are leading that group higher, sporting gains of 1.2% and 1.6%, respectively.

Elsewhere, WTI crude futures have bounced back from a lower start, erasing a loss of more than 1.0%, and are now up 0.5% at $66.07/bbl.
Dow: +11.40… | Nasdaq: +11.22… | S&P: +4.94…
NASDAQ Adv/Dec 1541/1271. …NYSE Adv/Dec 1575/1213.

11:00AM ET

[BRIEFING.COM] The major averages haven't moved much this morning, keeping near their unchanged marks. The S&P 500 is still up 0.1%.

Shares of Boston Scientific (BSX 34.25, +2.30) have spiked in recent trading and are now up 7.3% following news that Stryker (SYK 174.48, -4.47) has made a takeover approach. Boston Scientific is now the best-performing component in the health care sector, which is up 0.4% after being down as much as 0.3%.

Meanwhile, the top-weighted technology sector is lower by 0.2%, hovering at the bottom of the sector standings. Shares of Dow components Apple (AAPL 190.39, -1.32), Microsoft (MSFT 101.01, -0.62), and Intel (INTC 54.42, -0.63) are down between 0.6% and 1.1%.
Dow: -5.33… | Nasdaq: +4.99… | S&P: +3.30…
NASDAQ Adv/Dec 1547/1214. …NYSE Adv/Dec 1505/1254.

10:30AM ET
[BRIEFING.COM]

Commodities are beginning the day slightly higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently +0.1% at 90.04
Dollar index is currently -0.03% at 93.52
Looking at energy...
July WTI crude oil futures are now +$0.09 at $65.83/barrel
In other energy, Jul natural gas is +$0.05 at $2.94/MMBtu
Moving on to metals...
June gold is currently +$1.30 at $1304.00/oz, while Jul silver is +$0.21 at $16.96/oz
Jul copper is now -$0.03 at $3.27/lb

Dow: +28.44… | Nasdaq: +5.93… | S&P: +4.44…
NASDAQ Adv/Dec 1637/1099. …NYSE Adv/Dec 1629/1096.

10:00AM ET

[BRIEFING.COM] Equity indices are still a tick higher, hovering near their opening levels.

The financial sector (+0.4%) is outperforming the broader market this morning, with giants like JPMorgan (JPM 111.54, +0.43), Bank of America (BAC 30.28, +0.27), Wells Fargo (WFC 55.92, +0.24), Citigroup (C 68.92, +0.46), Morgan Stanley (MS 52.28, +0.38), and Goldman Sachs (GS 234.54, +1.15) up between 0.4% and 1.0%.

Conversely, the health care sector (-0.2%) is lagging. Within the space, Dow components Johnson & Johnson (JNJ 123.43, -0.64), Pfizer (PFE 36.42, -0.25), and Merck (MRK 62.26, -0.32) are down between 0.5% and 0.7%.
Dow: -9.78… | Nasdaq: +13.55… | S&P: +2.97…
NASDAQ Adv/Dec 1752/936. …NYSE Adv/Dec 1568/1100.

09:45AM ET

[BRIEFING.COM] The major averages are a tick higher in the opening minutes, with the S&P 500 up 0.1%.

All S&P sectors are trading within 0.4% of their unchanged marks. The financials (+0.4%), consumer staples (+0.4%), and telecom services (+0.4%) sectors are the top performers, while the energy (-0.3%), health care (-0.1%), and materials (-0.1%) groups are at the back of the pack.

Treasury yields are still in the green, with the benchmark 10-yr yield up two basis points at 2.96%.
Dow: +23.63… | Nasdaq: +13.88… | S&P: +3.97…
NASDAQ Adv/Dec 1774/883. …NYSE Adv/Dec 1524/1105.

09:16AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: -9.30.

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

President Donald Trump and North Korean leader Kim Jong Un are scheduled to meet in Singapore at around 9:00 PM ET tonight, marking the first time a North Korean leader has met with a sitting U.S. president. The two leaders are expected to discuss the possibility of denuclearizing North Korea in exchange for the removal of U.S. sanctions.

In addition, investors also have their eyes on upcoming policy meetings, which will take place later this week, from the Fed, the ECB, and the Bank of Japan.

U.S. Treasuries are under pressure this morning, pushing yields higher across the curve with the benchmark 10-yr yield up two basis points at 2.96%. Meanwhile, the U.S. Dollar Index is flat at 93.54, and West Texas Intermediate crude futures are down 1.1% at $65.02/bbl.

Investors will not receive any notable economic data today.

08:52AM ET
[BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: -13.50.

The S&P 500 futures are trading in line with fair value.

Equity indices in the Asia-Pacific region began the week on a mixed note. In Hong Kong, the one-month Hong Kong Interbank Offered Rate rose to a fresh ten-year high of 1.497%. President Trump is expected to meet North Korea's Supreme Leader Kim Jong-un in Singapore at 21:00 ET tonight. North Korean officials have reportedly asked their US counterparts to open a liaison office at the DMZ. Malaysia's new Prime Minister Mahathir Bin Mohamad said the US is no longer a good example of free trade and that growing countries need protection on trade.

In economic data:
China's May CPI -0.2% month-over-month (expected -0.1%; last -0.2%); +1.8% year-over-year, as expected (last 1.8%). May PPI +4.1% year-over-year (expected 3.9%; last 3.4%)
Japan's April Core Machinery Orders +10.1% month-over-month (expected 2.8%; last -3.9%); +9.6% year-over-year (expected 3.9%; last -2.4%). M2 Money Stock +3.2% year-over-year (expected 3.3%; last 3.2%). Machine Tool Orders +14.9% year-over-year (last 22.0%)
New Zealand's Q1 Manufacturing Sales Volume +1.4% quarter-over-quarter (last 1.0%)

---Equity Markets---

Japan's Nikkei gained 0.5%. Consumer names like Familymart, J Front Retailing, Fast Retailing, and Kikkoman rose between 2.3% and 2.8% while heavyweights like Fanuc, Honda Motor, Dentsu, Sony, TOTO, and Nikon climbed between 0.8% and 1.7%.
Hong Kong's Hang Seng added 0.3%. Geely Automobile jumped 3.0% while CNOOC, Hang Seng Bank, Sunny Optical Tech, AIA Group, BoC Hong Kong, AAC Technologies, and HSBC advanced between 0.5% and 2.3%.
China's Shanghai Composite lost 0.5%. Hubei Jumpcan Pharmaceutical, Tianjin Zhongxin Pharmaceutical, Chongqing Brewery, Everbright Jiabao, and Tongwei lost between 5.0% and 9.8%.
India's Sensex added 0.1%. Bharti Airtel spiked 3.2% while Sun Pharma and Dr. Reddy's Labs both added near 1.0% apiece. Financials like IndusInd Bank, AXIS Bank, and SBI rose between 0.4% and 0.8%.

Major European indices trade on a higher note with Italy's MIB (+2.3%) rebounding from last week's underperformance. Italy's Finance Minister Giovanni Tria reassured markets that Italy's new government has no intention to leave the euro and will focus on reforms that would lead to improved growth. Mr. Tria reiterated his government does not plan to boost growth through deficit spending. In Switzerland, voters overwhelmingly rejected the Vollgeld referendum (75%-25%). The Sovereign Money Initiative would have given the Swiss National Bank sole authority to create money.

In economic data:
Italy's April Industrial Production -1.2% month-over-month (expected -0.6%; last 1.2%); +1.9% year-over-year (expected 3.4%; last 3.5%)
UK's April Industrial Production -0.8% month-over-month (expected 0.2%; last 0.1%); +1.8% year-over-year (expected 2.7%; last 2.9%). April Manufacturing Production -1.4% month-over-month (expected 0.3%; last -0.1%); +1.4% year-over-year (expected 3.1%; last 2.9%). April Construction Output +0.5% month-over-month (expected 2.0%; last -2.3%); -3.3% year-over-year (expected -1.8%; last -4.9%)

---Equity Markets---

France's CAC has added 0.1%. ArcelorMittal leads with a gain of 2.4% while Credit Agricole, AXA, Societe Generale, BNP Paribas, Danone, Total, L'Oreal, and Louis Vuitton are up between 0.3% and 0.9%. On the downside, automakers Renault and Peugeot are both down near 0.8%.
Germany's DAX is higher by 0.1%. Commerzbank is the top performer, rising 2.0% while Deutsche Bank has added 0.2%. Heavyweights like Infineon, BASF, SAP, and Siemens show gains between 0.8% and 1.9%.
UK's FTSE has climbed 0.6%. Consumer names are among the leaders with British American Tobacco, ITV, Marks & Spencer, Diageo, Tesco, Sainsbury, and Imperial Brands holding gains between 1.3% and 3.0%.
Italy's MIB has jumped 2.3%. UniCredit, Intesa Sanpaolo, Banco Bpm, UBI Banca, Bper Banca, and Mediobanca are up between 2.4% and 4.9%.

08:28AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: -15.50.

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

Wall Street has started the month of June on a positive note. The S&P 500, the Dow, and the Nasdaq are up between 2.7% and 3.7% month-to-date, with 10 of 11 sectors in the green. Materials (+4.5%), consumer discretionary (+3.9%), and telecom services (+3.6%) at the top-performing groups.

Conversely, the utilities sector is the lone laggard, showing a month-to-date loss of 4.7%.

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: -5.80.

The stock market is on course for a flattish start to today's session following last week's rally, which left the S&P 500 at a three-month high, and ahead of President Donald Trump's meeting with North Korean leader Kim Jong Un and policy meetings from the Federal Reserve and the ECB. The S&P 500 futures are currently trading one point below fair value.

Mr. Trump and Mr. Kim are scheduled to meet in Singapore on Tuesday morning local time (approximately 9:00 PM ET). The summit will mark the first time that a North Korean leader has met with a sitting U.S. president. The two leaders are expected to discuss the possibility of denuclearizing North Korea, and the talks could impact the future of U.S.-China trade relations as China is North Korea's closest, and most influential, ally.

The Fed will conclude its latest policy meeting on Wednesday afternoon, and it is all but certain that officials will agree to hike interest rates for the second time this year. However, investors are still waiting in anticipation as the policy directive will include both updated economic and interest-rate projections, allowing investors to get a better feel for whether the U.S. central bank plans to hike rates once more or twice more this year. Separately, the ECB will release on Thursday its latest policy directive, which is expected to signal the end of its asset purchasing program.

U.S. Treasuries are lower this morning, sending yields higher across the curve. The benchmark 10-yr yield is up two basis points at 2.96%. Meanwhile, West Texas Intermediate crude futures are down 1.1% at $65.00 per barrel, and the U.S. Dollar Index is up 0.1% at 93.64.

Investors will not receive any notable economic data today.

In U.S. corporate news:

Envision Healthcare (EVHC 45.00, +1.36): +3.1% after agreeing to be acquired by KKR (KKR) for $46.00/share.
Genworth Financial (GNW 4.92, +1.11): +29.1% after receiving CFIUS approval to move forward with its proposed transaction with China Oceanwide.
Rent-A-Center (RCII 10.35, +0.24): +2.4% after raising its earnings guidance for the second quarter and for the fiscal year.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mixed note. Japan's Nikkei +0.5%, Hong Kong's Hang Seng +0.3%, China's Shanghai Composite -0.5%, India's Sensex +0.1%.
In economic data:
China's May CPI -0.2% month-over-month (expected -0.1%; last -0.2%); +1.8% year-over-year, as expected (last 1.8%). May PPI +4.1% year-over-year (expected 3.9%; last 3.4%)
Japan's April Core Machinery Orders +10.1% month-over-month (expected 2.8%; last -3.9%); +9.6% year-over-year (expected 3.9%; last -2.4%). M2 Money Stock +3.2% year-over-year (expected 3.3%; last 3.2%). Machine Tool Orders +14.9% year-over-year (last 22.0%)
New Zealand's Q1 Manufacturing Sales Volume +1.4% quarter-over-quarter (last 1.0%)
In news:
President Trump is expected to meet North Korea's Supreme Leader Kim Jong-un in Singapore at 21:00 ET tonight. North Korean officials have reportedly asked their US counterparts to open a liaison office at the DMZ.
Malaysia's new Prime Minister Mahathir Bin Mohamad said the US is no longer a good example of free trade and that growing countries need protection on trade.
In Hong Kong, the one-month Hong Kong Interbank Offered Rate rose to a fresh ten-year high of 1.497%.

Major European indices trade on a higher note with Italy's MIB (+2.1%) rebounding from last week's underperformance. France's CAC +0.2%, Germany's DAX +0.2%, UK's FTSE +0.8%.
In economic data:
Italy's April Industrial Production -1.2% month-over-month (expected -0.6%; last 1.2%); +1.9% year-over-year (expected 3.4%; last 3.5%)
UK's April Industrial Production -0.8% month-over-month (expected 0.2%; last 0.1%); +1.8% year-over-year (expected 2.7%; last 2.9%). April Manufacturing Production -1.4% month-over-month (expected 0.3%; last -0.1%); +1.4% year-over-year (expected 3.1%; last 2.9%). April Construction Output +0.5% month-over-month (expected 2.0%; last -2.3%); -3.3% year-over-year (expected -1.8%; last -4.9%)
In news:
Italy's Finance Minister Giovanni Tria reassured markets that Italy's new government has no intention to leave the euro and will focus on reforms that would lead to improved growth. Mr. Tria reiterated his government does not plan to boost growth through deficit spending.
In Switzerland, voters overwhelmingly rejected the Vollgeld referendum (75%-25%). The Sovereign Money Initiative would have given the Swiss National Bank sole authority to create money.

07:30AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -4.00.

06:54AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -7.30.

06:54AM ET
[BRIEFING.COM] Nikkei...22804...+109.50...+0.50%. Hang Seng...31064...+105.50...+0.30%.

06:54AM ET
[BRIEFING.COM] FTSE...7750.12...+69.10...+0.90%. DAX...12828.28...+61.70...+0.50%.

04:30PM ET

[BRIEFING.COM] The major averages ticked up between 0.1% and 0.3% on Friday, extending their weekly gains to 1.2%-2.8%. Stocks opened modestly lower as technology shares weighed, but the consumer staples and health care sectors helped turn things around later in the session. The day was pretty quiet in terms of headlines, although the Group of Seven (G7) did kick of its annual summit in Quebec.

President Trump is expected to be on the outside looking in at this year's G7 summit after his decision to impose tariffs on steel and aluminum imports was met with resistance from U.S. allies. The president further stirred the pot on Friday by saying the G7 -- which used to be the G8 before Russia got thrown out in 2014 for its annexation of Crimea -- should let Russia back into the group. Investors weren't spooked by the tension though, nor were they fazed by reports that Chinese government hackers stole massive amounts of highly sensitive data from a U.S. Navy contractor.

Nearly all S&P 500 sectors advanced on Friday, but gains were modest for the most part. The consumer staples sector was an exception though, adding 1.3%. Monster Beverage (MNST 55.48, +2.65) was the top-performing consumer staples component, rallying 5.0%, following its annual shareholder meeting. The health care sector also showed relative strength, climbing 0.7% in a broad-based rally.

The energy (-0.2%) and utilities (unch) sectors were the only groups to finish Friday in the red, but the top-weighted information technology group also lagged, closing just a tick above its unchanged mark. Within the tech space, Apple (AAPL 191.70, -1.76) lost 0.9% following reports that it has asked its supply chain to prepare around 20% fewer components for iPhones debuting in the second half of 2018, and Broadcom (AVGO 257.97, -6.71) dropped 2.5% despite reporting better-than-expected quarterly results on Thursday evening.

Elsewhere, U.S. Treasuries finished Friday on a flattish note, with the yield on the benchmark 10-yr note ticking up one basis point to 2.94%. Meanwhile, West Texas Intermediate crude futures slid 0.3% to $65.76 per barrel, and the U.S. Dollar Index climbed 0.1% to 93.56 to end a four-session losing streak.

Reviewing Friday's economic data, which was limited to Wholesale Inventories for April:

April Wholesale Inventories ticked up 0.1% (Briefing.com consensus +0.2%). The March reading was revised to +0.2% from +0.3%.
The key takeaway from the report is that sales growth outpaced inventories growth, which is a positive dynamic that can eventually help wholesalers regain pricing power if it persists.

Investors will not receive any economic data on Monday.

Nasdaq Composite +10.8% YTD
Russell 2000 +8.9% YTD
S&P 500 +3.9% YTD
Dow Jones Industrial Average +2.4% YTD

Week In Review: Third Straight Weekly Advance

The U.S. equity market advanced for the third week in a row, with the benchmark S&P 500 index adding 1.6%. The Dow Jones Industrial Average was particularly strong, adding 2.8%, while the Nasdaq Composite and the Russell 2000 touched new record highs, finishing the week with respective gains of 1.2% and 1.5%.

There were several notable corporate headlines this week, starting on Monday when the executive chairman and former CEO of Starbucks (SBUX), Howard Schultz, announced that he will be stepping down. In talking about his future plans, Mr. Schultz failed to rule out a run for the White House, prompting speculation that he'll challenge President Trump in 2020.

Elsewhere in the consumer discretionary space, Tesla (TSLA) shares spiked on Wednesday after CEO Elon Musk said it's "quite likely" that Tesla will hit its target for producing 5,000 Model 3 electric vehicles per week by the end of June. Retailers soared this week, sending the SPDR S&P Retail ETF (XRT) higher by 6.3%, following comments from Evercore ISI Research, which suggested that fears about Amazon's (AMZN) ever-growing footprint may be overblown. Some short-covering activity also likely helped push retail shares higher.

Meanwhile, in the tech space, Facebook (FB) came under scrutiny once again following news that the social media company has data-sharing partnerships with at least four Chinese electronics companies, including one flagged as a national security threat by American intelligence officials. Separately, Apple (AAPL) shares dropped on Friday following reports that the company has asked its supply chain to prepare around 20% fewer components for iPhones debuting in the second half of 2018.

In Washington, Commerce Secretary Wilbur Ross said the U.S. has struck a deal to end crippling sanctions against Chinese telecom giant ZTE that includes a $1 billion penalty and the implementation of a U.S.-chosen compliance team to monitor the company going forward. ZTE will also be required to change its board of directors and its executive team. On a related note, China is reportedly ready to approve Qualcomm's (QCOM) proposed acquisition of NXP Semi (NXPI).

Leaders from the Group of Seven (G7) kicked off their annual summit on Friday in the small Canadian resort town of La Malbaie. This year's meeting is expected to be more contentious than usual due to President Trump's decision to impose tariffs on imports of steel and aluminium. French President Emmanuel Macron has threatened to exclude the U.S. from the annual joint statement, symbolizing the strained relationship between the U.S. and its allies.

In Europe, the ECB's Chief Economist, Peter Praet, said the European Central Bank will discuss how to wind down its asset purchase program at next week's policy meeting after officials agreed that inflation is moving towards the central bank's target of 2.0%. The euro responded by rallying against the U.S. dollar, adding nearly 1.0% for the week.

The Fed will also be meeting next week, and it's all but certain that officials will hike interest rates for the second time this year. The question is whether the updated interest-rate projections, which will be released alongside the rate-hike decision on Wednesday, will call for one or two more hikes this year.

Dow: +75.12… | Nasdaq: +10.44… | S&P: +8.66…
NASDAQ Adv/Dec 1528/1393. …NYSE Adv/Dec 1714/1204.

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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)
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