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 Post subject: June 27th Weds Price Action Trade Result Profit $3137.50
PostPosted: Wed Jun 27, 2018 9:20 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
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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
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Review of TheStrategyLab: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167 & http://www.thestrategylab.com/thestrategylab-reviews.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 @ $3137.50 dollars or +62.75 points, Emini RTY ($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 @ $3137.50 dollars

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=181&t=2858

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 04:20PM ET
Dow: -165.52… | Nasdaq: -116.54… | S&P: -23.43…
NASDAQ Vol: 2.3 bln… Adv: 585… Dec: 2407…
NYSE Vol: 894.9 mln… Adv: 856… Dec: 2129…
iPad apps for Morningstar StockInvestor, FundInvestor, DividendInvestor, ETFInvestor

Moving the Market

White House will take a less aggressive approach to regulating foreign investment in U.S. technology companies, relying on the Committee on Foreign Investment in the U.S.

Crude prices spike and energy shares rally after weekly inventory report shows that U.S. crude stockpiles decline by a larger-than-expected 9.9 million barrels

Top-weighted technology and financial sectors tumble; lead broader market lower

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

04:20PM ET

[BRIEFING.COM] Stocks ended Wednesday's session on a solidly lower note, despite getting off to a good start. The S&P 500 was up as much as 0.9%, but finished lower by 0.9%, closing below its 50-day moving average for the first time in seven weeks. The Dow declined 0.7%, and the Nasdaq and the Russell 2000 lost 1.5%-1.7% apiece.

Investors were in an upbeat mood at the opening bell following news that the White House will defer regulating foreign investment in U.S. technology firms to the Committee on Foreign Investment in the United States (CFIUS). That decision was seen as a less-aggressive alternative to reports earlier this week that the Trump administration would like to directly bar foreign investment in U.S. tech firms.

However, the bullish vibe soon petered out. There wasn't a news catalyst behind the shift in sentiment; rather, underwhelming performances from the information technology and financial sectors helped to turn the tide. The two spaces eventually finished at the bottom of the sector standings, losing 1.3%-1.5% apiece.

That marks the 13th straight loss for the heavily-weighted financial space, which has been suffering amid a flattening of the yield curve. The 2s10s spread declined by another three basis points on Wednesday, dropping to 32 bps -- its lowest level in more than a decade. The benchmark 10-yr yield tumbled five basis points to 2.83%.

As for the top-weighted tech space, its weak performance was likely the result of some end-of-quarter churn as managers look to re-balance their portfolios. Even with Wednesday's drop, the tech space has had an impressive quarter, rallying 5.6% -- much better than the S&P 500's three-month gain of 2.2%.

On the flip side, the energy sector was the top-performing space for the second day in a row, adding 1.3%, thanks to another crude rally. WTI crude futures soared 3.1% to $72.69/bbl, hitting a fresh three-and-a-half year high, after the weekly government inventory data showed a larger-than-expected draw of 9.9 million barrels.

In corporate news, shares of ConAgra Brands (CAG 35.45, -2.78) tumbled 7.3% after the company announced it will be acquiring Pinnacle Foods (PF 64.95, -2.91) for approximately $8 billion in cash and stock. Shares of Pinnacle Foods lost 4.3%.

Meanwhile, shares of 21st Century Fox (FOXA 48.80, +1.12) rallied 2.4% after Walt Disney (DIS 103.96, -0.30) won DOJ approval to buy most of Fox's assets for $71.3 billion. The deal is subject to the condition that Disney sells 22 regional sports networks.

Elsewhere, the U.S. Dollar Index soared 0.7% on Wednesday to 95.02, hitting a fresh 11-month high.

It's also worth noting that Supreme Court Justice Anthony Kennedy announced his retirement on Wednesday, effective July 31. Although he identifies as a conservative, Mr. Kennedy is considered a swing vote as he often sides with his liberal colleagues. His retirement gives President Trump the chance to strengthen the court's conservative majority.

Reviewing today's economic data, which included 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:

May durable goods orders fell 0.6%, which is less than the 1.0% decrease expected by the Briefing.com consensus. The prior month's reading was revised to -1.0% (from -1.7%). Excluding transportation, durable orders decreased 0.3% (Briefing.com consensus +0.4%) to follow the prior month's revised increase of 1.9% (from 0.9%).
The key takeaway from the report is that the downturn in May appeared to be a simple pullback from a robust month of order activity, excluding transportation, in April. To wit, orders for fabricated metal products fell 1.2% after increasing 3.3% in April.
The Advance report for International Trade in Goods for May showed a deficit of $64.8 billion, and the Advance report for Wholesale Inventories for May showed an increase of 0.5%.
Pending Home Sales decreased 0.5% in May (Briefing.com consensus +0.8%). The May reading follows an unrevised 1.3% decrease in April.
The weekly MBA Mortgage Applications Index declined 4.9% to follow last week's rise of 5.1%.

On Thursday, investors will receive the third estimate for first quarter GDP and the weekly Initial Claims report.

Nasdaq Composite +7.9% YTD
Russell 2000 +6.8% YTD
S&P 500 +1.0% YTD
Dow Jones Industrial Average -2.4% YTD

Dow: -165.52… | Nasdaq: -116.54… | S&P: -23.43…
NASDAQ Adv/Dec 585/2407. …NYSE Adv/Dec 856/2129.

03:35PM ET
[BRIEFING.COM]

Energy Settlement Prices:
August Crude Oil futures rose $2.19 (3.11%) to $72.69/barrel
August Natural Gas settled $0.01 lower (-0.33%) at $2.98/MMBtu
July RBOB Gasoline settled $0.05 higher (2.43%) at $2.11/gallon
July Heating oil futures settled $0.05 higher (2.35%) at $2.18/gallon
Metals Settlement Prices:
Aug gold settled today's session down $3.50 (0.28%) at $1256.30/oz
Jul silver settled today's session $0.01 lower (0.68%) at $16.14/oz
Jul copper settled $0.01 lower (0.33%) at $2.98/lb
Agriculture Settlement Prices:
July corn settled unch at $3.52/bushel
July wheat settled $0.05 higher at $4.89/bushel
July soybeans settled unch at $8.67/bushel

Dow: -63.28… | Nasdaq: -71.77… | S&P: -10.88…
NASDAQ Adv/Dec 676/2295. …NYSE Adv/Dec 963/1978.

03:00PM ET

[BRIEFING.COM] Stocks are at their lowest marks of the day moving into the final hour of trading. The S&P 500 is down 0.5%, while the tech-heavy Nasdaq is lower by 1.0%.

In Washington, Supreme Court Justice Anthony Kennedy announced his retirement this afternoon, effective July 31. Mr. Kennedy is 81 years old and has served on the court for more than 30 years, sworn in in 1988 by then President Ronald Reagan. He identifies as a conservative, but is considered a "swing vote" on the nine-member court as he has often sided with his liberal colleagues. His retirement, therefore, gives President Trump the opportunity strengthen the court's conservative majority.

Meanwhile, in the currency market, the U.S. Dollar Index has surged 0.7% today, hitting a fresh 11-month high. The greenback is particularly strong against the euro, rising 0.8% to 1.1557 against the single currency.
Dow: -104.18… | Nasdaq: -78.07… | S&P: -13.95…
NASDAQ Adv/Dec 710/2178. …NYSE Adv/Dec 970/1951.

02:30PM ET

[BRIEFING.COM] The broader market still sits near lows, little changed since our last update.

The heavily-weighted information technology (-0.8%) group pressures the broader market lower at this point, there's no doubt about that.

The remaining groups are split as the energy (+1.6%) and utilities (+0.6%) spaces hold up decently against broader market pressure. Energy, partly aided by a nearly 3% gain in WTI crude oil futures today, has fully rebounded from Monday's steep losses. The utilities group is partly helped by a rise in bond prices today as U.S. Treasuries are higher across the board, sending yields lower. Currently, the yield on the benchmark 10-yr Treasury note falls five basis points at 2.83%.

Elsewhere, consumer discretionary (-0.8%) and financials (-0.7%) weaken into afternoon action, along with the IT group. The largest consumer discretionary component by market cap -- Amazon (AMZN 1,678.00, -13.09) -- shows losses of 0.8% at this point on Wednesday. Similarly, losses at McDonald's (MCD 157.83, -3.08, -1.9%), NIKE (NKE 71.55, -1.01, -1.4%), General Motors (GM 40.63, -0.37, -0.9%), and O'Reilly Auto (ORLY 274.03, -7.01, -2.5%) show weakness is widespread among sub-groups.

Against the possibility that the financials space would close lower for a 13th-straight session, bellwethers like JPMorgan Chase (JPM 103.86, -1.00, -1.0%), PNC (PNC 135.90, -1.38, -1.0%), Charles Schwab (SCHW 52.52, -0.55, -1.0%), CME Group (CME 163.86, -1.69, -1.0%), and Prudential (PRU 94.28, -1.03, -1.1%) all underperform.
Dow: -35.14… | Nasdaq: -61.78… | S&P: -11.25…
NASDAQ Adv/Dec 752/2116. …NYSE Adv/Dec 1036/1843.

02:00PM ET

[BRIEFING.COM] The major averages are near their worst levels of the session as the Nasdaq Composite paces losses with a 0.9% decline.

Gold futures continue to make 2018 lows by settling down 0.3% on Wednesday at $1,256.10/oz. Pressured again by strength in the dollar gold extended its recent losing streak to three sessions, touching December lows.

The U.S. Dollar Index sits 0.5% higher at 95.16 in recent action. The greenback posts 0.6% gains against the euro (1.1582), 0.2% against the yen (110.25), and 0.7% against the pound (1.3135).
Dow: -5.54… | Nasdaq: -63.82… | S&P: -2.74…
NASDAQ Adv/Dec 763/2112. …NYSE Adv/Dec 1065/1801.

01:30PM ET

[BRIEFING.COM] The major U.S. indices have seen a meaningful breakdown since our last update with stocks having surrendered all of their gains as weakness in technology weighs on the broader market.

A look inside the Dow Jones Industrial Average shows that McDonald's (MCD 158.07, -2.84), Intel (INTC 48.97, -0.70), & Nike (NKE 71.70, -0.86) are underperforming.

Conversely, Chevron (CVX 126.10, +1.94) is the best-performing Dow component as energy again leads its fellow sectors with crude oil futures gaining 3.2%, extending their recent move higher in the wake of OPEC's output increase agreement.

The Dow is currently down 1.3% this week.

Elsewhere, at the top of the hour, the Treasury's $36 bln 5-year note auction drew a high yield of 2.719% on a bid-to-cover of 2.55.
Dow: -24.10… | Nasdaq: -62.42… | S&P: -7.72…
NASDAQ Adv/Dec 787/2077. …NYSE Adv/Dec 1117/1746.

01:00PM ET

[BRIEFING.COM] Stocks are trying to extend yesterday's rebound following news that the Trump administration's crackdown on Chinese tech investments will be less restrictive than expected. The S&P 500 and the Dow Jones Industrial Average are up 0.2% and 0.4%, respectively, but the Nasdaq (-0.2%) and the Russell 2000 (-0.5%) are lagging.

Equity futures recouped overnight losses about an hour before the opening bell when a senior administration official said the White House will defer regulating foreign investment in U.S. technology firms to the Committee on Foreign Investment in the United States (CFIUS). That decision has been seen as a less-aggressive alternative to reports earlier this week that the White House is looking to actively bar foreign companies from investing in U.S. tech firms.

The energy sector (+1.6%) is at the top of the sector standings for the second straight day, underpinned by another crude oil rally. West Texas Intermediate crude futures have spiked 3.3% to $72.88 per barrel, hitting a fresh three-and-a-half year high, following the release of the weekly government inventory data, which showed a larger-than-expected 9.9 million barrel decline in U.S. crude stockpiles.

Most S&P 500 sectors are in the green, but the two most influential groups -- information technology (-0.1%) and financials (+0.1%) -- have been underperforming. The financial space is fighting to end a 12-session losing streak, but has struggled as the 2s10s spread remains under pressure. Meanwhile, the tech space is suffering amid an end-of-quarter sector rotation trade.

In corporate news, ConAgra (CAG 35.52, -2.71) is down 7.1% after agreeing to acquire Pinnacle Foods (PF 65.03, -2.82) for $68 per share in cash and stock. That news has outweighed the company's better-than-expected quarterly earnings report, which was released this morning.

Elsewhere, U.S. Treasuries are higher today, pushing yields lower across the curve. The yield on the benchmark 10-yr note is down four basis points at 2.84%.

Reviewing today's economic data, which included 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:

May durable goods orders fell 0.6%, which is less than the 1.0% decrease expected by the Briefing.com consensus. The prior month's reading was revised to -1.0% (from -1.7%). Excluding transportation, durable orders decreased 0.3% (Briefing.com consensus +0.4%) to follow the prior month's revised increase of 1.9% (from 0.9%).
The key takeaway from the report is that the downturn in May appeared to be a simple pullback from a robust month of order activity, excluding transportation, in April. To wit, orders for fabricated metal products fell 1.2% after increasing 3.3% in April.
The Advance report for International Trade in Goods for May showed a deficit of $64.8 billion, and the Advance report for Wholesale Inventories for May showed an increase of 0.5%.
Pending Home Sales decreased 0.5% in May (Briefing.com consensus +0.8%). The May reading follows an unrevised 1.3% decrease in April.
The weekly MBA Mortgage Applications Index declined 4.9% to follow last week's rise of 5.1%.

Dow: +92.46… | Nasdaq: -19.98… | S&P: +5.44…
NASDAQ Adv/Dec 911/1906. …NYSE Adv/Dec 1338/1501.

12:25PM ET

[BRIEFING.COM] The major averages have been ticking higher as of late, re-approaching their session highs. The S&P 500 is up 0.6%.

All 11 S&P 500 sectors are trading in the green. The energy (+2.0%), materials (+1.3%), and industrials (+1.0%) sectors are leading the charge. On the flip side, the financials (+0.4%), consumer discretionary (+0.4%), technology (+0.3%), health care (+0.3%), and utilities (+0.4%) groups are the weakest sectors.

In Europe, the major stock indices finished Wednesday with solid gains, adding between 0.9% and 1.1% apiece.
Dow: +189.27… | Nasdaq: +10.99… | S&P: +14.68…
NASDAQ Adv/Dec 1066/1730. …NYSE Adv/Dec 1554/1277.

11:55AM ET

[BRIEFING.COM] Equity indices are still in the green, although the tech-heavy Nasdaq recently had a brief encounter with negative territory. The S&P 500 is up 0.4%.

The S&P 500's top-weighted groups -- technology (+0.2%) and financials (+0.2%) -- are lagging behind the broader market today. Financials are currently on a 12-session losing streak, pressured by the continued flattening of the yield curve. Meanwhile, the tech space has suffered amid some end-of-quarter sector rotation, but is still up 7.3% QTD.

In the bond market, U.S. Treasuries are higher, sending yields lower across the curve. The yield on the benchmark 10-yr Treasury note is down four basis points at 2.84%, while the 2-yr yield is down two basis points at 2.51%. That leaves the 2s10s spread at 33 basis points, its lowest level in more than a decade.
Dow: +152.84… | Nasdaq: +7.64… | S&P: +12.20…
NASDAQ Adv/Dec 988/1785. …NYSE Adv/Dec 1509/1309.

11:25AM ET

[BRIEFING.COM] Equity indices have pulled back a bit, but are still comfortably in the green. The Dow is the top-performing major average, up 0.8%.

Former Dow component General Electric (GE 14.26, +0.52) -- officially replaced by Walgreens Boots Alliance (WBA 67.21, +0.63) on Tuesday -- has added another 3.9% today, extending its weekly advance to 9.3%. The industrial sector, which houses GE, is outperforming, up 1.1%.

Elsewhere, chipmakers are lagging today, evidenced by a 0.1% decline in the Philadelphia Semiconductor Index. Micron (MU 53.72, -0.87), which is up a massive 30.1% year-to-date, is showing particular weakness with a loss of 1.8%.
Dow: +156.61… | Nasdaq: +8.59… | S&P: +10.29…
NASDAQ Adv/Dec 1051/1726. …NYSE Adv/Dec 1488/1312.

10:55AM ET

[BRIEFING.COM] Equities have more than doubled their openings gains this morning, with the S&P 500 now up 0.7%.

WTI crude futures are higher by 2.7% at $72.42 per barrel, a fresh three-and-a-half year high, after the weekly crude inventory report from the Department of Energy showed that U.S. stockpiles declined by 9.9 million barrels. Estimates were expecting a decline of around 5.9 million barrels.

Energy shares are rallying alongside oil prices, with the S&P 500's energy sector hovering atop today's sector standings with a gain of 2.5%. The next best-performing group, materials, is up 1.5%. All 11 sectors are in positive territory, with utilities (+0.1%) bringing up the rear.
Dow: +258.95… | Nasdaq: +33.41… | S&P: +19.78…
NASDAQ Adv/Dec 1254/1464. …NYSE Adv/Dec 1688/1087.

10:40AM ET
[BRIEFING.COM]

Commodities are starting the day off higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently +0.7% at 87.22
Dollar index is currently +0.3% at 94.68
Looking at energy...
Aug WTI crude oil futures are now +$1.70 (+2.4%) at $72.23/barrel
In other energy, Aug natural gas is +$0.06 at $3.00/MMBtu
Moving on to metals...
Aug gold is currently -$2.20 at $1257.70/oz, while Jul silver is -$0.02 at $16.23/oz
Jul copper is now +$0.01 at $3.02/lb

Dow: +278.51… | Nasdaq: +48.01… | S&P: +22.67…
NASDAQ Adv/Dec 1360/1355. …NYSE Adv/Dec 1748/1012.

10:05AM ET

[BRIEFING.COM] Stocks have extended their opening gains in recent trading, with the S&P 500 now up 0.6%.

Just released, Pending Home Sales decreased 0.5% in May (Briefing.com consensus +0.8%). Today's reading follows an unrevised 1.3% decrease in April.
Dow: +158.35… | Nasdaq: +39.32… | S&P: +17.03…
NASDAQ Adv/Dec 1307/1311. …NYSE Adv/Dec 1599/1068.

09:45AM ET

[BRIEFING.COM] Equity indices are modestly higher in the opening minutes, sporting gains of around 0.2% apiece.

More than half of the 11 S&P 500 sectors are in the green, with energy (+1.8%) leading the charge for the second day in a row. The materials sector (+0.6) is also outperforming. On the flip side, the financial sector (-0.2%) is lagging, sliding for a 12th straight session.

As a reminder, Pending Home Sales for May (Briefing.com consensus +0.8%) will be released at 10:00 AM ET.
Dow: +66.03… | Nasdaq: +20.86… | S&P: +8.03…
NASDAQ Adv/Dec 1157/1407. …NYSE Adv/Dec 1315/1284.

09:11AM ET
[BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +21.50.

The S&P 500 futures were down as much as 0.7% overnight, but are now pointing towards a slightly higher start (+0.2%) following news that the Trump administration's crackdown on Chinese tech investments will be less restrictive than expected.

Rather than actively restricting Chinese investment in U.S. technology firms, the White House has decided to rely on the Committee on Foreign Investment in the United States (CFIUS). The CFIUS is a committee within the Treasury Department that's authorized to review transactions that could result in foreign ownership of a U.S. business. This is seen as a less aggressive approach and, therefore, a bullish catalyst for the U.S. equity market.

In corporate news, General Mills (GIS 46.39, +0.33) is up 0.7% after reporting better-than-expected earnings for its fiscal fourth quarter. Conversely, ConAgra (CAG 36.96, -1.27) is down 3.7% after agreeing to acquire Pinnacle Foods (PF 65.94, -1.92) for $68/share in cash and stock and reporting above-consensus earnings and revenues.

On the data front, May durable goods orders fell 0.6%, which is less than the 1.0% decrease expected by the Briefing.com consensus. The prior month's reading was revised to -1.0% (from -1.7%). Excluding transportation, durable orders decreased 0.3% (Briefing.com consensus +0.4%) to follow the prior month's revised increase of 1.9% (from 0.9%).

Separately, the Advance report for International Trade in Goods for May showed a deficit of $64.8 billion, and the Advance report for Wholesale Inventories for May showed an increase of 0.5%.

Today's last economic report, Pending Home Sales for May (Briefing.com consensus +0.8%), will cross the wires at 10:00 AM ET.

08:51AM ET
[BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +11.50.

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

Equity indices in the Asia-Pacific region ended Wednesday on a mostly lower note with markets in China and Hong Kong leading the retreat. The Bank of Japan's Flow of Funds report showed that the BoJ owned 41.8% of the JGB market at the end of the first quarter, up from 41.1% in the previous quarter. Press reports noted that U.S. President Trump might not implement new restrictions on investment from China, but instead focus on using existing tools. The latest China Beige Book claimed the Chinese economy is doing better than what official data suggest.

In economic data:
New Zealand's June ANZ Business Confidence -39.0 (last -27.2). May trade surplus NZD294 million (expected NZD100 million; last NZD193 million). May Imports NZD5.12 billion (expected NZD5.10 billion; last NZD4.77 billion) and May Exports NZD5.42 billion (expected NZD5.25 billion; last NZD4.96 billion)

---Equity Markets---

Japan's Nikkei lost 0.3%. Japan Tobacco, Canon, Bridgestone, Honda Motor, Yamaha Motor, Yokohama Rubber, Kubota, Showa Denko, Dentsu, Okuma, Fanuc, and NEC lost between 1.7% and 3.9%.
Hong Kong's Hang Seng fell 1.8%, sliding to its lowest level since early December. Country Garden Holdings slumped 7.4% while Apple suppliers AAC Technologies and Sunny Optical Tech lost 7.3% and 3.9%, respectively. Geely Automobile, Want Want China, China Overseas, ICBC, and Wharf Real Estate surrendered between 2.8% and 5.1%.
China's Shanghai Composite slumped 1.1%. Inner Mongolia Yili Industrial Group, Xinjiang Yilite Industry, Zhangzhou Pientzehuang Pharmaceutical, Shanghai Fosun Pharmaceutica, and Chongqing Brewery posted losses between 5.1% and 5.9%.
India's Sensex ended lower by 0.8%. ICICI Bank, SBI, Tata Motors, Bajaj Auto, Reliance Industries, AXIS Bank, and IndusInd Bank lost between 0.9% and 3.2%.

Major European indices have spiked in recent action following news that the Trump administration's crackdown on Chinese tech investments will be less restrictive than expected. In Germany, a meeting of the ruling coalition did not produce an agreement on immigration while CDU/CSU parliamentary group leader Volker Kauder said that the lack of an agreement will not hinder coalition work. Italian Prime Minister Giuseppe Conte said he will push for changes to EU asylum rules at this weekend's summit, looking to lessen the burden on countries with the first port of entry.

In economic data:
Eurozone May M3 Money Supply +4.0% year-over-year (expected 3.8%; last 3.8%) and Private Sector Loans +2.9% year-over-year (expected 3.0%; last 2.9%)
UK's June Nationwide HPI +0.5% month-over-month (expected 0.3%; last 0.2%); +2.0% year-over-year (consensus 1.7%; last 2.4%). June CBI Distributive Trades Survey 32 (expected 10; last 11)
France's June Consumer Confidence 97 (expected 100; last 99)
Italy's June Business Confidence 106.9, as expected (last 107.6) and Consumer Confidence 116.2 (expected 113.2; last 113.9). May PPI +0.7% month-over-month (expected -0.3%); +2.4% year-over-year (last 1.4%)
Swiss June ZEW Expectations 8.0 (last 28.0)

---Equity Markets---

France's CAC is higher by 1.1% amid gains in half of its components. TechnipFMC, Kering, Safran, Total, L'Oreal, and STMicroelectronics are up between 1.3% and 3.9% while Credit Agricole, Peugeot, and Carrefour are down between 0.4% and 1.2%.
Germany's DAX has added 1.1%. Henkel, Merck, Adidas, Infineon, Siemens, BASF, SAP, and Volkswagen hold gains between 1.1% and 2.3%. On the downside, Commerzbank is down 0.4% and Deutsche Bank has slid 2.2%.
UK's FTSE trades up 0.8%. Consumer names like Carnival, Sainsbury, Pearson, InterContinental Hotels, Paddy Power, Merlin Entertainments, and Unilever are up between 1.2% and 3.6%.

08:33AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +10.00.

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

Just in, May durable goods orders fell 0.6%, which is less than the 1.0% decrease expected by the Briefing.com consensus. The prior month's reading was revised to -1.0% (from -1.7%). Excluding transportation, durable orders decreased 0.3% (Briefing.com consensus +0.4%) to follow the prior month's revised increase of 1.9% (from 0.9%).

Separately, the Advance report for International Trade in Goods for May showed a deficit of $64.8 billion, and the Advance report for Wholesale Inventories for May showed an increase of 0.5%.

08:01AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +0.50.

Equity futures have spiked higher in recent action, recovering modest losses and popping into the green. The S&P 500 futures are currently three points, or 0.1%, above fair value after being down as much as 19 points, or 0.7%, in overnight trading.

On the trade war front, Chinese President Xi has warned his cabinet to get ready for a "full-scale trade war", according to an unconfirmed report from SGH Macro Advisors. In addition, the report noted that the People's Bank of China stands ready to refrain from buying U.S. Treasuries, or even cut its purchases.

Investors will receive several economic reports this morning. The Durable Goods Orders report for May (Briefing.com consensus -1.0%) and the advance readings for May Wholesale Inventories and International Trade in Goods will be released at 8:30 AM ET. The Pending Home Sales report for May (Briefing.com consensus +0.8%) will cross the wires at 10:00 AM ET.

Elsewhere, U.S. Treasuries are in the green, pushing the benchmark 10-yr yield two basis points lower to 2.86%, and West Texas Intermediate crude futures are up 0.8% at $71.10 per barrel after the API reported a draw of 9.2 million barrels on Tuesday evening. The official government crude inventory report will be released at 10:30 AM ET.

In U.S. corporate news:

General Mills (GIS 47.00, +0.94): after reporting better-than-expected earnings for its fiscal fourth quarter.
ConAgra (CAG 35.03, -3.20): -8.4% after agreeing to acquire Pinnacle Foods (PF 64.90, -2.96) for $68/share in cash and stock and reporting above-consensus earnings and revenues.
World Wrestling (WWE 75.25, +8.63): +13.0% after signing multi-year deals with USA Network and Fox Sports for $468 million -- more than triple its previous deal.
Sonic (SONC 32.75, -2.88): -8.1% despite beating bottom-line estimates.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a mostly lower note with markets in China and Hong Kong leading the retreat. Japan's Nikkei -0.3%, Hong Kong's Hang Seng -1.8%, China's Shanghai Composite -1.1%, India's Sensex -0.8%.
In economic data:
New Zealand's June ANZ Business Confidence -39.0 (last -27.2). May trade surplus NZD294 million (expected NZD100 million; last NZD193 million). May Imports NZD5.12 billion (expected NZD5.10 billion; last NZD4.77 billion) and May Exports NZD5.42 billion (expected NZD5.25 billion; last NZD4.96 billion)
In news:
The Bank of Japan's Flow of Funds report showed that the BoJ owned 41.8% of the JGB market at the end of the first quarter, up from 41.1% in the previous quarter.
Press reports noted that U.S. President Trump might not implement new restrictions on investment from China, but instead focus on using existing tools.
The latest China Beige Book claimed the Chinese economy is doing better than what official data suggest.

Major European indices trade near their flat lines. France's CAC +0.2%, Germany's DAX +0.3%, UK's FTSE +0.3%.
In economic data:
Eurozone May M3 Money Supply +4.0% year-over-year (expected 3.8%; last 3.8%) and Private Sector Loans +2.9% year-over-year (expected 3.0%; last 2.9%)
UK's June Nationwide HPI +0.5% month-over-month (expected 0.3%; last 0.2%); +2.0% year-over-year (consensus 1.7%; last 2.4%). June CBI Distributive Trades Survey 32 (expected 10; last 11)
France's June Consumer Confidence 97 (expected 100; last 99)
Italy's June Business Confidence 106.9, as expected (last 107.6) and Consumer Confidence 116.2 (expected 113.2; last 113.9). May PPI +0.7% month-over-month (expected -0.3%); +2.4% year-over-year (last 1.4%)
Swiss June ZEW Expectations 8.0 (last 28.0)
In news:
In Germany, a meeting of the ruling coalition did not produce an agreement on immigration while CDU/CSU parliamentary group leader Volker Kauder said that the lack of an agreement will not hinder coalition work.
Italian Prime Minister Giuseppe Conte said he will push for changes to EU asylum rules at this weekend's summit, looking to lessen the burden on countries with the first port of entry.

07:28AM ET
[BRIEFING.COM] S&P futures vs fair value: -9.30. Nasdaq futures vs fair value: -42.80.

06:58AM ET
[BRIEFING.COM] S&P futures vs fair value: -6.50. Nasdaq futures vs fair value: -36.80.

06:58AM ET
[BRIEFING.COM] Nikkei...22272...-70.20...-0.30%. Hang Seng...28356...-525.10...-1.80%.

06:58AM ET
[BRIEFING.COM] FTSE...7548.74...+10.80...+0.10%. DAX...12246.54...+12.20...+0.10%.

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.

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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)
Trader and Founder of WRB Analysis (wide range body/bar analysis)
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