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 Post subject: June 26th Tuesday Price Action Trade Result - No Trades
PostPosted: Tue Jun 26, 2018 10:14 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
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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Quote:
No trades today for me. Its a designated rest/relax day but I did log into the free chat room and left my computer on to record the chat room conversation for other traders that were in the chat room to post their real-time trades and price action analysis to ensure that guest visitors reading the chat logs will know that members of TheStrategyLab did in fact post their real time trades and/or price action analysis. TheStrategyLab members chat log at the below link. [ec44]

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=181&t=2857

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.

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 04:30PM ET
Dow: +30.31… | Nasdaq: +29.62… | S&P: +5.99…
NASDAQ Vol: 2.03 bln… Adv: 1752… Dec: 1227…
NYSE Vol: 856.2 mln… Adv: 1760… Dec: 1163…
Find out what makes your portfolio tick with Morningstar Premium >>

Moving the Market

Monday comments from Peter Navarro continue to help soothe trade war fears

S&P 500 finds support at its 50-day moving average (2717)

Crude futures spike following news that the State Department will impose powerful sanctions on companies that buy Iranian crude oil past the end of October

Financial space underperforms, keeps broader market in check

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

04:30PM ET

[BRIEFING.COM] Stocks rebounded modestly on Tuesday -- reclaiming less than a fifth of their Monday losses -- with energy shares leading the way, helped by a spike in oil prices. The S&P 500 ended higher by 0.2% after finding early support at its 50-day moving average. Small caps outperformed, pushing the Russell 2000 up 0.7%.

Late Monday comments from President Trump's top trade adviser Peter Navarro, who said the White House is not planning to restrict foreign investment as part of its trade actions against China or any other country, continued to be analyzed on Tuesday in the absence of any new developments in the ongoing U.S.-China trade feud.

The energy sector finished atop the S&P 500 sector standings with a gain of 1.4%. News that the U.S. State Department will start imposing powerful sanctions on companies that buy Iranian crude oil past the end of October prompted a crude oil rally -- which, in turn, sent energy stocks higher. WTI crude futures advanced 3.5% to $70.45 per barrel, hitting their highest level in five weeks.

Cyclical sectors, including energy (+1.4%), consumer discretionary (+0.7%), and information technology (+0.5%), finished mostly in the green, with financials (-0.4%) being an exception. Like financials, the countercyclical health care (-0.3%), telecom services (-0.4%), and consumer staples (-0.5%) spaces posted modest declines.

In corporate news, General Electric (GE 13.74, +0.99) spiked 7.8% after announcing plans to spin off its health care business and plans to sell its 62.5% stake in oil and gas company Baker Hughes (BHGE 33.13, +0.69). Also, GE was officially booted from the Dow on Tuesday, replaced by Walgreens Boots Alliance (WBA 66.57, -0.67).

Separately, homebuilder Lennar (LEN 51.61, +2.39) advanced 4.9% after reporting better-than-expected quarterly results, but Harley-Davidson (HOG 41.32, -0.25) slid 0.6% after a series of tweets from President Trump, who criticized the company's decision to move some of its operations overseas due to retaliatory EU tariffs.

Reviewing Tuesday's economic data, which included the Conference Board's Consumer Confidence Index for June and the Case-Shiller 20-City Index for April:

The consumer confidence reading for June decreased to 126.4 (Briefing.com consensus 127.1) from the prior month's revised reading of 128.8 (from 128.0).
The key takeaway from the report is that the downturn was driven by a downshift in the Expectations Index, which suggests, according to the Conference Board, that consumers don't anticipate the economy gaining much momentum in the coming months.
The Case-Shiller 20-City Index increased 6.6% in April (Briefing.com consensus +6.8%), and the March increase was revised to 6.7% from 6.8%.

On Wednesday, investors will receive the Durable Goods Orders report for May, the advance readings for May Wholesale Inventories and International Trade in Goods, the Pending Home Sales report for May, and the weekly MBA Mortgage Applications Index.

Nasdaq Composite +9.5% YTD
Russell 2000 +8.7% YTD
S&P 500 +1.9% YTD
Dow Jones Industrial Average -1.8% YTD

Dow: +30.31… | Nasdaq: +29.62… | S&P: +5.99…
NASDAQ Adv/Dec 1752/1227. …NYSE Adv/Dec 1760/1163.

03:30PM ET
[BRIEFING.COM]

Energy Settlement Prices:
August Crude Oil futures rose $1.91 (2.78%) to $70.50/barrel
August Natural Gas settled $0.05 higher (1.7%) at $2.99/MMBtu
July RBOB Gasoline settled $0.01 higher (0.49%) at $2.06/gallon
July Heating oil futures settled $0.01 higher (0.47%) at $2.13/gallon
Metals Settlement Prices:
Aug gold settled today's session down $9.30 (0.73%) at $1259.8/oz
Jul silver settled today's session $0.08 lower (0.49%) at $16.25/oz
Jul copper settled unch at $2.99/lb
Agriculture Settlement Prices:
July corn settled $0.03 higher at $3.52/bushel
July wheat settled $0.07 lower at $4.84/bushel
July soybeans settled $0.07 lower at $8.67/bushel

Dow: +71.82… | Nasdaq: +33.56… | S&P: +8.97…
NASDAQ Adv/Dec 1790/1187. …NYSE Adv/Dec 1902/1016.

03:00PM ET

[BRIEFING.COM] Equity indices enter the final hour of trading at session highs, with the S&P 500 up 0.5%.

The heavily-weighted financial sector (unch) is still trailing the broader market, but has finally reached positive territory. Giants JPMorgan (JPM 105.07, +0.28), Bank of America (BAC 28.66, +0.18), and Citigroup (C 66.38, +0.62) are up between 0.2% and 0.9%, but Wells Fargo (WFC 53.62, -0.34) is still lower, down 0.6%.

Elsewhere, the CBOE Volatility Index has tumbled 10.5% today after surging to a two-month high on Monday.
Dow: +95.63… | Nasdaq: +46.18… | S&P: +12.54…
NASDAQ Adv/Dec 1785/1072. …NYSE Adv/Dec 1927/963.

02:30PM ET

[BRIEFING.COM] The broader market still holds a broadly higher move at this juncture on Tuesday.

Today's sector leaders in the S&P 500 have been widely covered -- energy (+1.3%), information technology (+0.8%), and consumer discretionary (+0.8%) -- so let's gander at those which fall behind the broader market today.

Bucking the broader market trend higher on Tuesday, the lightly-weighted telecom services (-0.4%) space is on the decline at heavyweights AT&T (T 31.52, -0.18) and Verizon (VZ 49.45, -0.14) share losses worse than 0.3% apiece. Things aren't looking much better in the financials (-0.3%) and consumer staples (-0.3%) groups.

Big dogs Wells Fargo (WFC 53.59, -0.37, -0.7%) and U.S. Bancorp (USB 50.34, -0.24, -0.5%) all trade lower on Tuesday as the Financial Select Sector SPDR (XLF 26.77, -0.01, -0.1%) is poised to extend its recent losing streak to 12 sessions.

Elsewhere, consumer staples names Philip Morris International (PM 79.40, -0.57, -0.7%), PepsiCo (PEP 107.87, -1.12, -1.0%), Altria (MO 56.36, -0.71, -1.2%), CVS Health (CVS 70.21, -1.22, -1.7%), and Walgreens Boots Alliance (WBA 66.55, -0.69, -1.0%) all show losses into the afternoon. Shares of MO, aside from being dragged lower by the broader sector, are down in part due to a Morgan Stanley note out this morning wherein an analyst cut their price target on the 'Equal Weight' rated tobacco name. Additionally, shares of Walgreens trade lower after being added to the Dow Jones Industrial Average today -- replacing General Electric (GE 13.83, +1.08, +8.5%).
Dow: +95.78… | Nasdaq: +44.88… | S&P: +11.70…
NASDAQ Adv/Dec 1781/1046. …NYSE Adv/Dec 1902/963.

01:55PM ET

[BRIEFING.COM] The major averages have not shifted much since our last update.

Gold futures settled 0.7% lower on Tuesday at $1,259.90/oz, the yellow metal's lowest settle in six months. Gold was pressured today by none other than the dollar (and perhaps to varying degree, the broader market).

The U.S. Dollar Index posts gains of 0.5% today at 94.72. The greenback shows gains against a few foreign currencies to this point, namely, a 0.5% gain against the euro (1.1643), a 0.4% advance against the yen (110.18), and a 0.6% move against the pound (1.3205).
Dow: +102.49… | Nasdaq: +53.64… | S&P: +14.78…
NASDAQ Adv/Dec 1789/1014. …NYSE Adv/Dec 1899/948.

01:30PM ET

[BRIEFING.COM] The major U.S. indices are at their best levels of the session as stocks recover from yesterday's trade-war fueled drubbing.

A look inside the Dow Jones Industrial Average shows that Visa (V 133.69, +2.76), Apple (AAPL 185.79, +3.62), & Cisco (CSCO 42.97, +0.68) are outperforming. Visa is the Dow's top gainer as shares recover from yesterday's decline, which was driven by a Supreme Court decision involving merchant fees for competitor American Express (AXP 98.62, +0.06), while Apple & Cisco are advancing as technology displays relative strength in the wake of recent underperformance.

Conversely, Intel (INTC 49.60, -1.11) is the worst-performing Dow component after being downgraded to Underperform from Mkt Perform at Bernstein.

Despite today's bounce back, the DJIA is still down 0.18% month-to-date.

Elsewhere, at the top of the hour, the Treasury's $34 bln 2-year note auction drew a high yield of 2.538% on a bid-to-cover of 2.73.
Dow: +113.26… | Nasdaq: +64.08… | S&P: +15.07…
NASDAQ Adv/Dec 1780/1001. …NYSE Adv/Dec 1913/929.

01:00PM ET

[BRIEFING.COM] Stocks are modestly higher today, reclaiming a piece of Monday's big trade-related sell off. The S&P 500 is up 0.4%, hovering near its session high, while the Nasdaq, the Dow Jones Industrial Average, and the Russell 2000 are sporting gains between 0.3% and 0.6%.

Traders are still digesting yesterday's comments from Peter Navarro, President Trump's top trade adviser, who said the White House is not planning to restrict foreign investment as part of its trade actions against China or any other country. Mr. Navarro's comment contradicted a weekend Wall Street Journal report and upended an earlier statement from Treasury Secretary Steven Mnuchin, but ultimately helped to stop a broad market sell off, easing investors' fears of a trade war.

Energy shares are leading today's modest rally, pushing the S&P 500's energy sector up 1.1%, thanks to a sharp increase in the price of crude oil. West Texas Intermediate crude futures are up 3.5% at $70.43 per barrel following news that the U.S. State Department will start imposing powerful sanctions on companies that buy Iranian crude oil past the end of October.

The top-weighted technology group is the next best-performing sector, up 0.9%, with Netflix (NFLX 401.89, +17.28) leading the charge (+4.4%).

On the downside, the heavily-weighted financial sector is down 0.4%, keeping the broader market in check, as the 2s10s spread continues to hover at its lowest level in more than a decade. The benchmark 10-yr yield is flat at 2.88%, and the 2-yr yield is unchanged at 2.52%. The results of a $34 billion 2-yr Treasury note auction will be released at 1:00 PM ET.

In corporate news, General Electric (GE 13.76, +1.01) has spiked 8.0% after announcing that it will be spinning off its health care business into a standalone company and will be selling its 62.5% stake in oil and gas company Baker Hughes (BHGE 33.03, +0.59). Also of note, GE was officially booted out of the Dow today, replaced by Walgreens Boots Alliance (WBA 66.29, -0.95).

Elsewhere, homebuilder Lennar (LEN 52.43, +3.21) is up 6.5% after reporting better-than-expected quarterly results, and Pinnacle Foods (PF 68.20, +1.93) has jumped 2.9% following recent headlines that it's nearing a deal to be acquired by Conagra (CAG 38.75, -0.19).

Also of note, the S&P 500 finished yesterday just a tick above its 50-day moving average and is now about 13 points above the key technical level.
Dow: +78.68… | Nasdaq: +43.43… | S&P: +10.26…
NASDAQ Adv/Dec 1674/1087. …NYSE Adv/Dec 1846/972.

12:25PM ET

[BRIEFING.COM] The major averages touched new session highs in recent action, and are now sporting gains between 0.3% and 0.5%.

Seven sectors are in the green, including consumer discretionary (+0.7%), industrials (+0.5%), energy (+1.0%), materials (+0.4%), technology (+0.8%), utilities (+0.5%), and real estate (+0.5%), while four are in the red, including financials (-0.5%), health care (-0.1%), consumer staples (-0.1%), and telecoms (-0.6%).

Elsewhere, West Texas Intermediate crude futures are now up 3.0% at $70.11/bbl following reports that the U.S. State Department will start imposing powerful sanctions on companies that buy Iranian crude oil past the end of October.
Dow: +64.01… | Nasdaq: +36.59… | S&P: +8.78…
NASDAQ Adv/Dec 1566/1196. …NYSE Adv/Dec 1754/1045.

12:00PM ET

[BRIEFING.COM] Stocks continue drifting sideways, hovering a tick above yesterday's closing levels.

Homebuilders are higher today, evidenced by a 1.7% rise in the iShares U.S. Home Construction ETF (ITB 38.12, +0.64), following an upbeat earnings report from Lennar (LEN 51.97, +2.75); the company beat both top and bottom line estimates. Lennar shares are currently higher by 5.6%.

In the bond market, U.S. Treasuries have seen little movement today, with the benchmark 10-yr yield staying unchanged at 2.88%. The results of a $34 billion 2-yr Treasury note auction will be released this afternoon at 1:00 PM ET. The 2-yr yield is currently flat at 2.52%.
Dow: +44.19… | Nasdaq: +20.73… | S&P: +5.85…
NASDAQ Adv/Dec 1428/1327. …NYSE Adv/Dec 1658/1127.

11:30AM ET

[BRIEFING.COM] The major averages are still modestly higher, sporting gains of around 0.2% apiece.

West Texas Intermediate crude futures have shot higher in recent trading, now up 1.6% at $69.14 per barrel, which marks a five-week high. Energy shares have rallied alongside the commodity, pushing the S&P 500's energy sector to the top of today's sector standings. The group is currently higher by 0.8%.

Meanwhile, at the opposite end of the leaderboard, the heavily-weighted financials sector is struggling, down 0.4%. Within the group, lending giant Wells Fargo (WFC 53.44, -0.52) is showing particular weakness, dropping 1.0% to a fresh June low.
Dow: +52.98… | Nasdaq: +17.04… | S&P: +5.88…
NASDAQ Adv/Dec 1411/1323. …NYSE Adv/Dec 1629/1147.

11:00AM ET

[BRIEFING.COM] Equity indices have kept close to their opening levels. The S&P 500 is still up 0.1%.

Shares of General Electric (GE 13.66, +0.90) have surged 7.1% today after the industrial giant announced that it will be separating GE Healthcare into a standalone company. The company also said it plans to sell its 62.5% stake in oil and gas company Baker Hughes (BHGE 32.68, +0.24). GE's CEO John Flannery, who took over for long-time front man Jeff Immelt last August, just concluded an interview on CNBC to further explain the company's decision.

On a related note, Walgreens Boots Alliance (WBA 66.00, -1.26) officially replaced General Electric in the Dow today. GE was one of the original Dow components and, until today, was a continuous part of the average for more than a century.
Dow: +26.61… | Nasdaq: +13.42… | S&P: +3.28…
NASDAQ Adv/Dec 1282/1410. …NYSE Adv/Dec 1441/1263.

10:35AM ET
[BRIEFING.COM]

This morning, the S&P 500 is trading higher
Commodities are starting the day off slightly lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.03% at 86.09
Dollar index is currently +0.3% at 94.27
Looking at energy...
Aug WTI crude oil futures are now +$0.14 at $68.22/barrel
In other energy, Aug natural gas is -$0.015 at $2.906/MMBtu
Moving on to metals...
Aug gold is currently -$9.10 at $1259.80/oz, while Jul silver is -$0.07 at $16.26/oz
Jul copper is now -$0.006 at $3.005/lb

Dow: +25.09… | Nasdaq: +16.68… | S&P: +3.76…
NASDAQ Adv/Dec 1212/1468. …NYSE Adv/Dec 1336/1347.

10:00AM ET

[BRIEFING.COM] Equity indices have extended their opening gains slightly, with the S&P 500 now up 0.2%.

Just in, the consumer confidence reading for June decreased to 126.4 (Briefing.com consensus 127.1) from the prior month's revised reading of 128.8 (from 128.0).
Dow: +29.56… | Nasdaq: +24.44… | S&P: +4.64…
NASDAQ Adv/Dec 1242/1367. …NYSE Adv/Dec 1320/1291.

09:40AM ET

[BRIEFING.COM] The major averages are a tick higher in the opening minutes, sporting gains of around 0.1% apiece.

S&P 500 sectors are pretty evenly split between green and red. Energy (+0.7%) is the top-performing group, benefiting from a 0.8% rise in the price of crude oil, while financials (-0.6%) is the worst-performing group. In general, cyclical spaces are outperforming their countercyclical peers.

As a reminder, the Conference Board's Consumer Confidence Index for June (Briefing.com consensus 127.1) will be released at 10:00 AM ET.
Dow: +10.14… | Nasdaq: +8.80… | S&P: +1.95…
NASDAQ Adv/Dec 1245/1252. …NYSE Adv/Dec 1278/1233.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +21.30.

Futures have been ticking higher this morning, and now point toward a slightly higher start for the U.S. equity market.

Investors are still chewing on Monday comments from Peter Navarro, President Trump's top trade adviser, who said that the White House is not planning to restrict foreign investment as part of its trade actions against China or any other country, upending earlier reports. That comment has helped soothe investor sentiment.

In corporate news, General Electric (GE 13.67, +0.92) is up 7.2% in pre-market trading after announcing it will be separating GE Healthcare into a standalone company and will be pursuing a separation from Baker Hughes (BHGE 32.51, +0.07). Meanwhile, Lennar (LEN 52.40, +3.18) is up 6.5% after reporting above-consensus earnings and revenues, and Spectrum Pharma (SPPI 22.20, +3.22) has spiked 17.0% following reports that the company is weighing a possible sale.

On the earnings front, the Case-Shiller 20-City Index increased 6.6% in April (Briefing.com consensus +6.8%), and the March increase was revised to 6.7% from 6.8%. Today's last economic report, the Conference Board's Consumer Confidence Index for June (Briefing.com consensus 127.1), will be released at 10:00 AM ET.

Elsewhere, U.S. Treasuries are flat, leaving the yield on the benchmark 10-yr Treasury note unchanged at 2.88%.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +25.80.

The S&P 500 futures are trading four points, or 0.2%, above fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. Last weekend's reserve requirement ratio cut in China was followed by press speculation that another cut could take place before the end of 2018. South China Morning Post reported that Chinese companies that expect to be impacted by U.S. tariffs are scrambling to offset the impact through measures like price increases and changes to shipping methods. Hong Kong press reported that local authorities plan to impose a tax on unsold apartments.

In economic data:
Japan's BoJ Core CPI +0.5% year-over-year (expected 0.6%; last 0.5%) and Corporate Services Price Index +1.0% year-over-year, as expected (last 1.0%)
Hong Kong's May trade deficit HKD43.30 billion (expected deficit of HKD47.00 billion; last deficit of HKD46.90 billion). May Imports +16.5% month-over-month (last 11.1%) and May Exports +15.9% month-over-month (last 8.1%)
Singapore's May Industrial Production +0.4% month-over-month (expected 1.2%; last 0.5%); +11.1% year-over-year (consensus 8.3%; last 9.1%)
South Korea's June Consumer Confidence 106 (last 108)

---Equity Markets---

Japan's Nikkei settled just above its flat line. Ebara, Credit Saison, SUMCO, Mitsui OSK Lines, Furukawa Electric, and KKDI gained between 1.9% and 4.1% while Japan Tobacco, Shiseido, Softbank, Yamato Holdings, Fast Retailing, and Konami lost between 1.2% and 3.3%.
Hong Kong's Hang Seng slipped 0.3%. Country Garden Holdings dropped 6.7% while AAC Technologies, Geely Automobile, Hang Lung Properties, China Overseas, Swire Pacific, CNOOC, and New World Development lost between 1.0% and 3.6%.
China's Shanghai Composite settled lower by 0.5%. Baoshan Iron & Steel, Shanghai Lujiazui Finance & Trade Zone Development, Xinyu Iron & Steel, China Fortune Land Development, and Nanjing Xinjiekou Department Store surrendered between 4.5% and 10.0%.
India's Sensex added 0.1%. Coal India, Tata Consultancy, Infosys, Bajaj Auto, ITC, and Yes Bank rose between 0.5% and 2.3%.

Major European indices trade in the green, but gains have been limited. European Central Bank policymaker Benoit Coeure reiterated expectations for no change in rates through next summer, adding that he is confident inflation will return to 2.0%. Italy's Interior Minister Matteo Salvini said the Italian government intends to reduce taxes for small businesses. Standard & Poor's raised Greece's sovereign rating to B+ from B while the outlook was changed to Stable from Positive.

Economic data was limited:
UK's May Gross Mortgage Approvals 39,200 (expected 38,200; last 38,300)

---Equity Markets---

Germany's DAX is higher by 0.2%. Beiersdorf, Infineon, Adidas, Allianz, SAP, and Daimler hold gains between 0.1% and 3.1%. On the downside, Volkswagen, BMW, Commerzbank, BASF, and Merck are down between 0.2% and 1.6%.
France's CAC has climbed 0.4%. Consumer names like Kering, Louis Vuitton, L'Oreal, Carrefour, Pernod Ricard, Hermes, and Danone are up between 0.3% and 2.3%.
UK's FTSE is up 0.6%. Next, Burberry, Carnival, SKY, Persimmon, and Marks & Spencer have climbed between 1.0% and 2.4% while Hikma Pharmaceuticals, BP, and Royal Dutch Shell sport gains between 1.1% and 3.0%.

08:27AM ET
[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +22.00.

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

Harley-Davidson (HOG 41.17, -0.40) is in focus once again this morning following a series tweets from President Trump. Commenting on Harley's plans to move some of its operations overseas in order to avoid retaliatory tariffs from the EU, President Trump said the company "won't be able to sell back into U.S. without paying a big tax!"

HOG shares are currently down 1.0% in pre-market trading after tumbling 6.0% on Monday.

07:56AM ET
[BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: +14.00.

The S&P 500 futures are trading two points, or 0.1%, below fair value after the benchmark index suffered a 1.4% decline on Monday, closing just a tick above its 50-day moving average. Monday's losses were fear-induced, prompted by another chapter in the long-running U.S.-China trade feud.

With no new developments overnight, investors are still pondering comments from Peter Navarro, President Trump's top trade adviser, who said on Monday afternoon that the White House is not planning to restrict foreign investment as part of its trade actions against China or any other country.

That comment confused many as it upended an earlier statement from Treasury Secretary Steven Mnuchin, but it was effective in soothing investor sentiment nonetheless. Stocks bounced up from session lows amid/following Mr. Navarro's late-day appearance on CNBC, and look to be stable this morning -- at least for the time being.

Looking at other markets, there aren't signs of a flight to safety. U.S. Treasuries are flat, with the yield on the benchmark 10-yr Treasury note unchanged at 2.88%, gold futures are down 0.9% at $1258/oz, and the CBOE Volatility Index is hovering at 17.42 after touching 19.52 on Monday -- its highest level since late April.

Investors will receive just two economic reports today. The Case-Shiller 20-City Index for April (Briefing.com consensus 6.8%) will be released at 9:00 AM ET, and the Conference Board's Consumer Confidence Index for June (Briefing.com consensus 127.1) is set to cross the wires at 10:00 AM ET.

In U.S. corporate news:

General Electric (GE 13.41, +0.66): +5.2% after announcing it will separate GE Healthcare into a standalone company and pursue a separation from Baker Hughes (BHGE).
Lennar (LEN 53.25, +4.03): +8.2% after beating both top and bottom line estimates for the second quarter.
Spectrum Pharma (SPPI 23.05, +4.07): +21.4% following reports that the company is weighing a possible sale.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. Japan's Nikkei unch, Hong Kong's Hang Seng -0.3%, China's Shanghai Composite -0.5%, India's Sensex +0.1%.
In economic data:
Japan's BoJ Core CPI +0.5% year-over-year (expected 0.6%; last 0.5%) and Corporate Services Price Index +1.0% year-over-year, as expected (last 1.0%)
Hong Kong's May trade deficit HKD43.30 billion (expected deficit of HKD47.00 billion; last deficit of HKD46.90 billion). May Imports +16.5% month-over-month (last 11.1%) and May Exports +15.9% month-over-month (last 8.1%)
Singapore's May Industrial Production +0.4% month-over-month (expected 1.2%; last 0.5%); +11.1% year-over-year (consensus 8.3%; last 9.1%)
South Korea's June Consumer Confidence 106 (last 108)
In news:
Last weekend's reserve requirement ratio cut in China was followed by press speculation that another cut could take place before the end of 2018.
South China Morning Post reported that Chinese companies that expect to be impacted by U.S. tariffs are scrambling to offset the impact through measures like price increases and changes to shipping methods.
Hong Kong press reported that local authorities plan to impose a tax on unsold apartments.

Major European indices trade in the green, but gains have been limited. Germany's DAX +0.2%, France's CAC +0.4%, UK's FTSE +0.6%.
In economic data:
UK's May Gross Mortgage Approvals 39,200 (expected 38,200; last 38,300)
In news:
European Central Bank policymaker Benoit Coeure reiterated expectations for no change in rates through next summer, adding that he is confident inflation will return to 2.0%.
Italy's Interior Minister Matteo Salvini said the Italian government intends to reduce taxes for small businesses.
Standard & Poor's raised Greece's sovereign rating to B+ from B while the outlook was changed to Stable from Positive.

07:31AM ET
[BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: +13.00.

06:59AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +23.00.

06:59AM ET
[BRIEFING.COM] Nikkei...22342...+3.90...+0.00%. Hang Seng...28881...-80.00...-0.30%.

06:59AM ET
[BRIEFING.COM] FTSE...7537.58...+27.70...+0.40%. DAX...12267.14...-3.20...0.00%.

04:30PM ET

[BRIEFING.COM] Stocks got hit pretty hard on Monday amid escalated fears that the U.S. and China are headed towards a full-blown trade war. Losses were broad-based, with declining issues outnumbering advancing issues 3 to 1 on the New York Stock Exchange. However, the market did settle notably above session lows thanks to some late comments from the White House.

The S&P 500 lost 1.4%, but did manage to close a tick above its 50-day moving average despite spending most of the session below the key technical level. The Dow, meanwhile, lost 1.3% and suffered some technical damage, closing below its 200-day moving average for the first time in two years. The Nasdaq was particularly weak, losing 2.1%, as tech shares struggled, and the Russell 2000 lost 1.7%.

Trade war fears were escalated after a weekend report from The Wall Street Journal that the Trump administration is looking to bar Chinese companies from investing in U.S. technology firms. Treasury Secretary Steven Mnuchin refuted the report in a tweet on Monday morning, saying the administration is targeting all countries attempting to "steal our technology", not just China.

Then things got a little confusing.

Peter Navarro, President Trump's top trade adviser, made a late-day appearance on CNBC, saying the sell off was a "very large overreaction" and insisting that the White House has no plans to impose investment restrictions. Mr. Navarro's comments boosted the market, cutting the S&P 500's loss from 2.0% at its session low to 1.2% at its afternoon high.

Nine of eleven S&P sectors finished Monday in negative territory, with growth-sensitive groups being the weakest performers. The top-weighted technology sector (-2.3%) finished at the bottom of the sector standings. Chipmakers were particularly weak, evidenced by a 3.1% drop in the Philadelphia Semiconductor Index, and the tech-heavy FAANG names really struggled; Facebook (FB 196.35, -5.39), Apple (AAPL 182.17, -2.75), Amazon (AMZN 1663.15, -52.52), Alphabet (GOOG 1124.81, -30.67), and Netflix (NFLX 384.48, -26.61) lost between 1.5% and 6.5%.

Elsewhere, Harley-Davidson (HOG 41.57, -2.64) tumbled 6.0% after announcing it won't raise prices to cover the cost of the EU's reciprocal tariffs; instead, it'll work to shift production to international facilities. Carnival (CCL 58.54, -4.99) was also a notable laggard, losing 7.9%, after disappointing guidance outweighed upbeat quarterly results.

On a positive note, the countercyclical consumer staples (+0.4%) and utilities (+1.7%) sectors closed Monday in the green. Within the consumer staples space, Campbell Soup (CPB 42.23, +3.63) surged 9.4% and Kraft Heinz (KHC 63.32, +0.11) added 0.2% following a NY Post report that Kraft might be interested in acquiring the soup maker.

U.S. Treasuries rose amid the flight to safety, sending yields lower across the curve. The yield on the benchmark 10-yr Treasury note slipped two basis points to 2.88%. Meanwhile, the CBOE Volatility Index, often referred to as the "investor fear gauge", spiked 28.8%, hitting its highest level since late April.

Reviewing Monday's economic data, which was limited to the New Home Sales report for May:

New Home Sales in May hit an annualized rate of 689,000, which is above the Briefing.com consensus of 666,000. The April reading was revised to 646,000 (from 662,000).
The key takeaway from the report is that there wasn't any growth in new home sales outside the South region. That is the largest region for new home sales, though, and where there is a concentration of lower-priced housing markets, which helps explain the year-over-year drop in median and average selling prices.

On Tuesday, investors will receive the Case-Shiller 20-City Index for April and the Conference Board's Consumer Confidence Index for June.

Nasdaq Composite +9.1% YTD
Russell 2000 +8.0% YTD
S&P 500 +1.6% YTD
Dow Jones Industrial Average -1.9% YTD

Dow: -328.09… | Nasdaq: -160.81… | S&P: -37.81…
NASDAQ Adv/Dec 709/2300. …NYSE Adv/Dec 711/2231.

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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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