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 Post subject: July 10th Tuesday Price Action Trade Result - No Trades
PostPosted: Wed Jul 11, 2018 1:06 am 
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Joined: Sat Jan 10, 2009 1:06 pm
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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:
Announcement - On Wednesday July 11th 2018, I will move my public trade journal into the private trade journal section. You must be a registered member of TheStrategyLab with an active trade journal here @ TheStrategyLab via a minimum of 21 trade journaling days (real money or simulator) to gain access to my now private trade journal @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=362

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=182&t=2869

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 price action analysis or real-time trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements...it also gives guest readers of the chat logs a peek into the trade performance of users of TheStrategyLab. 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 except for those silent chat room members that are posting their broker statements & quantitative statistical analysis of their trading in their private threads at the forum itself. Thus, we highly recommend that you use your broker trade execution platform (real money or simulator) 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 will provide you with the quantitative statistical analysis of your trading regardless if you're posting real-time trades or real-time price action analysis in the free chat room.

You can download your results and then post them in your private thread at the forum at the end of your trading day. This allows silent members to continue using the free chat room to just monitor the real time discussion whenever they want..useful if you view chat rooms as a distraction from your trading if you were to share real-time info about your trading for documentation in the chat room logs.

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

Member's Private Threads @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=118

Member's Private Trade Journals @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=349

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=358&t=3788 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 04:20PM ET
Dow: +143.07… | Nasdaq: +3.00… | S&P: +9.67…
NASDAQ Vol: 1.7 bln… Adv: 1176… Dec: 1795…
NYSE Vol: 709.4 mln… Adv: 1513… Dec: 1423…
Turn up the heat on your investments with a 3-month subscription to Morningstar DividendInvestor for $14.95

Moving the Market

Buying momentum as stocks looks to extend a three-session winning streak

Heavily-weighted financial sector lags; tech group also underperforms

Consumer staples rally after upbeat earnings report from PepsiCo (PEP)

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

04:20PM ET

[BRIEFING.COM] The market climbed for a fourth straight session on Tuesday, with the S&P 500 and the Dow adding 0.4% and 0.6%, respectively. The tech-heavy Nasdaq lagged, but still managed to eke out a narrow victory, and the small-cap Russell 2000 ended lower by 0.5% despite hitting a new intraday record in early trading.

10 of 11 sectors finished Tuesday in the green. Defensive groups, including consumer staples (+1.3%), utilities (+1.0%), and telecom services (+1.1%) led the charge after lagging on Monday. The energy (+0.7%) and materials (+0.8%) groups were also strong, but the heavily-weighted financial space (-0.4%) struggled following Monday's rally.

Financials' decline helped to keep the broader market in check, as did a mild performance from the top-weighted tech space (+0.2%) and losses in both transport and biotech stocks; the Dow Jones Transportation Average declined 0.3%, and the iShares Nasdaq Biotechnology ETF (IBB 116.61, -0.20) slipped 0.2%.

Biogen (BIIB 344.82, -9.18) paced the biotech retreat with a loss of 2.6% after Robert W. Baird downgraded the stock, arguing that last week's upbeat reaction to positive Alzheimer's drug data was overblown. Still, the heavily-weighted health care sector finished with a gain of 0.4%.

In earnings news, PepsiCo (PEP 112.89, +5.13) rallied 4.8%, hitting a four-month high, after reporting better-than-expected earnings for the second quarter.

Elsewhere, Treasuries finished flat to slightly lower, pushing yields a tick higher; the benchmark 10-yr yield, for instance, climbed to 2.87% from 2.86%. WTI crude futures were up more than 1.0% in early trading, but finished higher by just 0.3% at $74.12/bbl, and the CBOE Volatility Index declined 1.3% to 12.53, a three-week low.

President Trump left for Brussels on Tuesday morning for a two-day NATO summit, during which he'll likely push allies to ramp up their military spending. Mr. Trump will travel to Britain following the NATO meeting and then to Finland for a highly-anticipated meeting with Russian president Vladimir Putin.

Reviewing Tuesday's economic data, which included the Job Openings and Labor Turnover Survey for May and the NFIB Small Business Optimism Index for June:

The May Job Openings and Labor Turnover Survey showed that job openings increased to 6.638 million from a revised 6.840 million (from 6.698 million) in April.
The NFIB Small Business Optimism Index for June ticked down to 107.2 from 107.8 in the prior reading.

Looking ahead, investors will receive on Wednesday the June Producer Price Index, May Wholesale Inventories, and the weekly MBA Mortgage Applications Index.

Nasdaq Composite +12.4% YTD
Russell 2000 +10.4% YTD
S&P 500 +4.5% YTD
Dow Jones Industrial Average +0.8% YTD

Dow: +143.07… | Nasdaq: +3.00… | S&P: +9.67…
NASDAQ Adv/Dec 1176/1795. …NYSE Adv/Dec 1513/1423.

03:35PM ET
[BRIEFING.COM]

Energy Settlement Prices:
August Crude Oil futures rose $0.21 (0.28%) to $74.12/barrel
August Natural Gas settled $0.04 lower (-1.41%) at $2.79/MMBtu
July RBOB Gasoline settled $0.01 higher (0.47%) at $2.16/gallon
july Heating oil futures settled $0.02 higher (0.91%) at $2.22/gallon
Metals Settlement PriceS:
Aug gold settled today's session down $4.40 (0.35%) at $1255.30/oz
Sept silver settled today's session $0.01 lower (0.31%) at $16.09/oz
Sept copper settled $0.01 lower (0.35%) at $2.84/lb
Agriculture Settlement Prices:
Sept corn settled $0.07 lower at $3.47/bushel
Sept wheat settled $3.48 higher at $8.56/bushel
Aug soybeans settled $3.64 lower at $4.92/bushel

Dow: +145.12… | Nasdaq: +2.55… | S&P: +9.80…
NASDAQ Adv/Dec 1220/1757. …NYSE Adv/Dec 1460/1450.

02:55PM ET

[BRIEFING.COM] Equity indices are mixed going into the final stretch. The S&P 500 and the Dow are up 0.3% and 0.5%, respectively, while the Nasdaq is down 0.1%.

Biotechnology names are struggling today, pushing the iShares Nasdaq Biotechnology ETF (IBB 116.52, -0.29) lower by 0.2%. Biogen (BIIB 344.19, -9.81) is particularly weak, down 2.8%, after Robert W. Baird downgraded the stock, arguing the market's reaction last week to the company's positive Alzheimer's drug data was overblown.

The health care sector, which houses biotech names, is still in the green though, up 0.4%. Dow components Johnson & Johnson (JNJ 127.20, +1.15), UnitedHealth (UNH 255.64, +1.97), Pfizer (PFE 37.44, +0.28), and Merck (MRK 62.46, +0.44) are up between 0.7% and 0.9%.
Dow: +129.18… | Nasdaq: -2.49… | S&P: +7.95…
NASDAQ Adv/Dec 1114/1733. …NYSE Adv/Dec 1411/1510.

02:35PM ET

[BRIEFING.COM] A brief selloff in the Nasdaq Composite has quieted since our last update as the index now shows losses of 'only 0.1%. The momentum fell out from the broader market as a whole in part due to early signs of technical resistance as a move toward the 2800 level in the S&P 500 (intraday high 2795.56) got snuffed out. For its part, the S&P 500 is up 0.3% at this juncture while the Dow Jones Industrial Average is 0.5% higher.

Today's action among the markets sectors has been mostly positive then too, save for the financial group (-0.5%) which posted a 2.3% rally on Monday.

Elsewhere, afternoon pressure has picked up in blue chip tech names like Apple (AAPL 190.45, -0.13, -0.1%) and Facebook (FB 203.06, -1.68, -0.8%) despite favorable sell side commentary on both names this morning. Action among other tech bellwethers like Microsoft (MSFT 102.17, +0.32, +0.3%), Alphabet (GOOG 1,155.76, +1.71, +0.2%), and Verizon (VZ 51.33, +0.59, +1.2%) at this point keeps the selloff at bay. The S&P 500 information technology (+0.2%) sector trims today's advance yet still shows gains.

Also impacting the broader market sentiment, a profit-taking bid has permeated among some small cap names after the Russell 2000 climbed to a new record high this morning. The intraday swing from high to low has been 1.2%.
Dow: +114.32… | Nasdaq: -4.40… | S&P: +6.44…
NASDAQ Adv/Dec 1121/1710. …NYSE Adv/Dec 1433/1470.

01:55PM ET

[BRIEFING.COM] Since our last update the Nasdaq Composite has slipped into negative territory, pressured by the heavily-weighted technology sector, now about -0.3% vs today's best levels of +0.3%. Both the S&P 500 and the Dow Jones Industrial Average remain above yesterday's closing levels up 0.2% and 0.4%, respectively.

Gold futures settled 0.3% lower at $1,255.40/oz on Tuesday due in part to strength in the dollar.

The U.S. Dollar Index is currently 0.1% higher at 94.20 as the greenback shows strength against a few major currencies; namely, the dollar adds 0.1% against the euro (1.1742) and gains 0.4% against the yen (111.25).
Dow: +95.30… | Nasdaq: -20.42… | S&P: +4.20…
NASDAQ Adv/Dec 1036/1787. …NYSE Adv/Dec 1269/1618.

01:30PM ET

[BRIEFING.COM] The major U.S. indices remain mostly higher in afternoon trading, as stocks see a further extension of their recent winning streak, in what has otherwise been mostly an uneventful session.

A look inside the Dow Jones Industrial Average shows that Procter & Gamble (PG 79.39, +1.53), Boeing (BA 347.46, +5.54), & DowDuPont (DWDP 67.75, +1.00) are outperforming. P&G is leading the Dow higher as shares recover from yesterday's downgrade-driven pullback.

Conversely, Walgreens Boots Alliance (WBA 63.07, -0.66) is the worst-performing Dow component after being downgraded to In-line from Outperform at Evercore ISI.

Tacking on to yesterday's gains, the DJIA is now up 1.8% this week.

Elsewhere, at the top of the hour, the Treasury's $33 bln 3-year auction drew a high yield of 2.685% on a bid-to-cover of 2.51.
Dow: +125.81… | Nasdaq: +0.34… | S&P: +8.28…
NASDAQ Adv/Dec 1120/1687. …NYSE Adv/Dec 1323/1554.

12:55PM ET

[BRIEFING.COM] Wall Street is looking to extend its winning streak to four sessions today, but it's far from a guarantee at this juncture. The S&P 500 (+0.3%) and the Nasdaq (+0.2%) are only modestly higher, although the Dow Jones Industrial Average (+0.6%) is up notably. Small caps lag with the Russell 2000 down 0.4%.

10 of 11 sectors are in positive territory, but the lone decliner is financials (-0.2%), which is the second-most influential group, representing around 15% of the broader market. Today's underperformance from financials follows a big 2.3% rally for the group on Monday.

Utilities (+1.1%) is the top-performing space, bouncing back from yesterday's 3.1% tumble, and energy (+0.7%) and consumer staples (+0.8%) are also relatively strong. Energy was up as much as 1.5% earlier, but trimmed its gain as crude oil backed away from a new three-and-a-half year high. WTI crude futures are still up 0.2% though, hovering at $73.96 per barrel.

Shares of PepsiCo (PEP 111.97, +4.21) are up 3.9% today after the beverage giant reported better-than-expected earnings for the second quarter this morning. Conversely, transports and retailers are lagging; the Dow Jones Transportation Average and the SPDR S&P Retail ETF (XRT 49.55, -0.42) are down 0.8% apiece.

Eleswhere, U.S. Treasuries are little changed, with the yield on the benchmark 10-yr note up just one basis point at 2.87%.

President Trump left for a two-day NATO summit in Brussels this morning, where he'll likely push for increased military spending; Mr. Trump tweeted that "NATO countries must pay MORE, the United States must pay LESS." The president will then travel to Britain and then to Finland for a meeting with Russian president Vladimir Putin.

Reviewing today's economic data, which included the Job Openings and Labor Turnover Survey for May and the NFIB Small Business Optimism Index for June:

The May Job Openings and Labor Turnover Survey showed that job openings increased to 6.638 million from a revised 6.840 million (from 6.698 million) in April.
The NFIB Small Business Optimism Index for June ticked down to 107.2 from 107.8 in the prior reading.

Dow: +124.17… | Nasdaq: +6.28… | S&P: +7.11…
NASDAQ Adv/Dec 1187/1626. …NYSE Adv/Dec 1378/1487.

12:25PM ET

[BRIEFING.COM] The major averages continue trending sideways, with the tech-heavy Nasdaq (+0.1%) just a tick above its unchanged mark.

President Trump left for a two-day NATO summit in Brussels this morning, where he'll likely push for increased military spending; Mr. Trump tweeted yesterday that "NATO countries must pay MORE, the United States must pay LESS." The president will then travel to Britain and then to Finland for a meeting with Russian president Vladimir Putin.

In currencies, the U.S. Dollar Index is up 0.2% at 93.97, continuing to rebound from the three-week low it hit on Friday.
Dow: +150.74… | Nasdaq: +9.76… | S&P: +9.15…
NASDAQ Adv/Dec 1217/1563. …NYSE Adv/Dec 1430/1421.

11:55AM ET

[BRIEFING.COM] Equity indices have not moved since our last update. The small-cap Russell 2000 is underperforming with a loss of 0.2%.

The S&P 500's second-most influential group, financials, is the only sector in negative territory moving into the afternoon, down 0.1%. Within the space, lending giant Citigroup (C 68.29, -0.64) is down 0.9% ahead of Friday's earnings release. JPMorgan (JPM 107.35, +0.07) and Wells Fargo (WFC 56.72, -0.05) will also be reporting on Friday.

In Europe, Germany's DAX and France's CAC finished Tuesday higher by 0.5% and 0.7%, respectively, while the UK's FTSE added 0.1%.
Dow: +142.37… | Nasdaq: +13.14… | S&P: +8.58…
NASDAQ Adv/Dec 1287/1463. …NYSE Adv/Dec 1423/1408.

11:25AM ET

[BRIEFING.COM] Equity indices continue to drift near their recent levels, sporting modest gains.

Shares of PepsiCo (PEP 111.95, +4.19) have jumped 3.9%, hitting a four-month high, after the beverage giant reported better-than-expected earnings for the second quarter this morning. Pepsi's revenues came in as expected, and the company reaffirmed its guidance for fiscal year 2018.

Looking ahead, WD-40 (WDFC 151.10, -0.10) and AAR Corp (AIR 48.22, +0.13) will report their quarterly results following today's closing bell.
Dow: +130.31… | Nasdaq: +11.21… | S&P: +7.75…
NASDAQ Adv/Dec 1319/1406. …NYSE Adv/Dec 1477/1312.

11:00AM ET

[BRIEFING.COM] Stocks have extended their gains slightly since the opening bell. The S&P 500 is now up 0.3%, and the Dow is especially strong, up 0.6%.

All 11 S&P sectors are in the green. Energy is no longer leading the charge, but is still among the top performers with a gain of 0.7%. The consumer staples sector (+0.9%) is the top-performing group, and the materials space (+0.7%) is also relatively strong. Conversely, financials is at the back of the pack, hovering just a tick higher.

In the bond market, U.S. Treasuries have ticked up to their flat lines in recent trade, leaving the benchmark 10-yr yield unchanged at 2.86%.
Dow: +156.26… | Nasdaq: +14.72… | S&P: +9.99…
NASDAQ Adv/Dec 1380/1313. …NYSE Adv/Dec 1612/1178.

10:35AM ET
[BRIEFING.COM]

Commodities are starting the day off lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.2% at 85.94
Dollar index is currently +0.3% at 94.08
Looking at energy...
Aug WTI crude oil futures are now +$0.21 at $74.06/barrel
In other energy, Aug natural gas is -$0.02 at $2.81/MMBtu
Moving on to metals...
Aug gold is currently -$4.80 at $1254.80/oz, while Jul silver is -$0.05 at $16.09/oz
Jul copper is now -$0.02 at $2.83/lb

Dow: +154.89… | Nasdaq: +12.54… | S&P: +8.91…
NASDAQ Adv/Dec 1483/1191. …NYSE Adv/Dec 1693/1049.

10:00AM ET

[BRIEFING.COM] Equity indices are still modestly higher, with the S&P 500 up 0.2%.

Just in, the May Job Openings and Labor Turnover Survey showed that job openings increased to 6.638 million from a revised 6.840 million (from 6.698 million) in April.
Dow: +116.75… | Nasdaq: +5.12… | S&P: +6.21…
NASDAQ Adv/Dec 1420/1156. …NYSE Adv/Dec 1586/1077.

09:40AM ET

[BRIEFING.COM] The major averages are a tick higher in the opening minutes, with the S&P 500 up 0.2%.

Energy (+1.4%) is the top-performing group in early action, underpinned by a 0.8% gain in WTI crude, which is hovering at $74.48 per barrel, a new three-and-a-half year high. The materials (+0.6%) and industrials (+0.5%) sectors are the next-best performers, while utilities (-0.5%) and real estate (-0.5%) lag.

As a reminder, the Job Openings and Labor Turnover Survey for May will be released at 10:00 AM ET.
Dow: +105.75… | Nasdaq: +12.18… | S&P: +6.74…
NASDAQ Adv/Dec 1544/940. …NYSE Adv/Dec 1580/935.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +16.50.

The stock market is on track for a slightly higher open, as the S&P 500 futures are trading six points, or 0.2%, above fair value.

In corporate news, PepsiCo (PEP 110.60, +2.84) is up 2.6% in pre-market trading after reporting better-than-expected earnings for the second quarter. Conversely, Chipotle Mexican Grill (CMG 455.00, -8.89) is down 1.9% after being downgraded to 'Underperform' from 'Neutral' at Mizuho.

On the data front, the NFIB Small Business Optimism Index for June was released earlier this morning, slipping to 107.2 from 107.8 in the prior reading. Today's only other economic release, the Job Openings and Labor Turnover Survey for May, is set to cross the wires at 10:00 AM ET.

Elsewhere, U.S. Treasuries are flat to slightly lower, with the benchmark 10-yr yield up one basis point at 2.87%. WTI crude futures are up 0.7% at $74.39 per barrel, flirting with a three-and-a-half year high, amid a strike in Norway involving hundreds of oil workers.

09:01AM ET
[BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +13.00.

The S&P 500 futures are trading six points above fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note. Japan's Finance Minister Taro Aso confirmed that the Japanese government is considering a supplemental budget for the fiscal year if the current disaster recovery funding proves insufficient in covering damages from recent flooding and mud slides. Elsewhere, South Korea is reportedly considering a 10.0% boost to its budget for 2019. China's President Xi Jinping said his country will help to build ports and railroads In Arabic nations with plans to offer $20 billion in loans to these countries.

In economic data:
China's June CPI -0.1% month-over-month (expected 0.1%; last -0.2%); +1.9% year-over-year, as expected (last 1.8%). June PPI +4.7% year-over-year (expected 4.5%; last 4.1%)
Australia's June NAB Business Confidence 6 (expected 8; last 7) and NAB Business Survey 15 (last 15)
Japan's May Machine Tool Orders +11.4% year-over-year (last 14.9%)

---Equity Markets---

Japan's Nikkei gained 0.7%. Yahoo Japan led with an 11.7% spike after Softbank announced plans to buy a 10.8% stake in Yahoo Japan from Altaba. Rakuten, Nissan Motor, Okuma, Hitachi Construction, Furukawa, Ebara, Softbank, Hino Motors, Olympus, Tokyo Electron, and TDK climbed between 1.8% and 4.9%.
Hong Kong's Hang Seng settled just below its flat line after surrendering its intraday gain. China Mengniu Dairy fell 4.2% while Tencent Holdings, Sunny Optical Tech, and AAC Technologies dropped between 1.1% and 2.2%. On the upside, CNOOC and PetroChina both gained near 2.4%.
China's Shanghai Composite rallied to a fresh high into the close, gaining 0.4%. Zhejiang Huahai Pharmaceutical, Lawton Development, Shanghai International Airport, GuangYuYuan Chinese Herbal Medicine, and China National Medicines advanced between 5.1% and 6.2%.
India's Sensex gained 0.9%, pausing just shy of its February high. Financials had a strong showing with Yes Bank, AXIS Bank, HDFC Bank, SBI, and ICICI Bank rising between 0.8% and 2.6%. IndusInd Bank bucked the trend, falling 1.0%.

Major European indices trade on a higher note with the UK's FTSE (+0.1%) showing relative weakness. Economic data from the region included disappointing news from Germany, as ZEW Economic Sentiment contracted to a six-year low. China's Premier Li Keqiang and German Chancellor Angela Merkel signed a set of deals that include joint cooperation projects between governmental agencies and large German companies. The total value of the agreements is estimated at EUR20 billion. In the UK, Jeremy Hunt was named Foreign Secretary, replacing Boris Johnson.

In economic data:
Eurozone July ZEW Economic Sentiment -18.7 (expected -13.2; last -12.6)
Germany's July ZEW Current Conditions 72.4 (expected 78.2; last 80.6) and ZEW Economic Sentiment -24.7 (expected -18.0; last -16.1)
UK's May trade deficit GBP12.36 billion (expected deficit of GBP12.00 billion; last deficit of GBP12.40 billion). May Industrial Production -0.4% month-over-month (expected 0.5%; last -1.0%); +0.8% year-over-year (expected 1.9%; last 1.6%). May Manufacturing Production +0.4% month-over-month (expected 0.9%; last -1.3%); +1.1% year-over-year (expected 1.9%; last 0.9%). May Construction Output +2.9% month-over-month (expected 0.4%; last 0.5%); +1.6% year-over-year (expected -0.5%; last -1.2%). May GDP +0.3% month-over-month, as expected (last 0.2%)
France's May Industrial Production -0.2% month-over-month (expected 0.7%; last -0.5%)
Italy's May Industrial Production +0.7% month-over-month (expected 0.9%; last -1.3%); +2.1% year-over-year (expected 2.7%; last 1.9%)

---Equity Markets---

UK's FTSE is higher by 0.1%. Consumer names like SKY, Next, Pearson, Burberry, Associated British Foods, Reckitt Benckiser, Diageo, InterContinental Hotels, Sainsbury, and Compass have climbed between 0.5% a 2.0%.
Germany's DAX has climbed 0.4%. Heavyweights like Bayer, Siemens, Merck, Adidas, BASF, Lufthansa, and Daimler are up between 0.3% and 1.5%. On the downside, Commerzbank and Deutsche Bank hold respective losses of 0.5% and 0.2%.
France's CAC trades up 0.5%. Airbus has jumped 3.2% while Atos, Hermes International, Kering, Peugeot, Renault, Louis Vuitton, and L'Oreal show gains between 0.7% and 2.3%. ArcelorMittal is the weakest performer, falling 0.8%.

08:25AM ET
[BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +17.80.

The S&P 500 futures have ticked lower in recent trading and are now just five points, or 0.2%, above fair value.

Financials, industrials, and energy were the top-performing sectors on Monday, adding between 1.5% and 2.3%. The top-weighted technology group started off slow, but gained ground in the afternoon, finishing with a gain of 0.8%. Utilities was the worst-performing space, giving back a chunk (-3.1%) of its four-week rally.

The S&P 500 has climbed for three sessions in a row, adding 2.6% since July 3.

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +23.30.

U.S. equities have climbed for three straight sessions and are looking to extend that streak to four this morning. The S&P 500 futures are seven points, or 0.3%, above fair value. Overseas, Asian equities ended Tuesday mostly higher, and the major bourses in Europe are also in the green.

President Trump will be traveling to Europe today for a two-day NATO summit, where he is expected to push some member countries to ramp up their military spending. Mr. Trump will then travel to Britain and then to Finland for a highly-anticipated meeting with Russian president Vladimir Putin.

In economic data, the NFIB Small Business Optimism Index for June was released earlier this morning, slipping to 107.2 from 107.8 in the prior reading. Today's only other economic release, the Job Openings and Labor Turnover Survey for May, is set to cross the wires at 10:00 AM ET.

Elsewhere, U.S. Treasuries are flat to slightly lower, with the benchmark 10-yr yield up one basis point at 2.87%. WTI crude futures are up 0.5% at $74.23 per barrel, flirting with a three-and-a-half year high, amid a strike in Norway involving hundreds of oil workers.

In U.S. corporate news:

PepsiCo (PEP 111.02, +3.26): +3.0% after reporting better-than-expected earnings for the second quarter.
eBay (EBAY 37.46, -0.45): -1.2% after being downgraded to 'Hold' from 'Buy' at SunTrust.
KB Home (KBH 28.69, +1.21): +4.4% after being upgraded to 'Positive' from 'Neutral' at Susquehanna.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note. Japan's Nikkei +0.7%, Hong Kong's Hang Seng unch, China's Shanghai Composite +0.4%, India's Sensex +0.9%.
In economic data:
China's June CPI -0.1% month-over-month (expected 0.1%; last -0.2%); +1.9% year-over-year, as expected (last 1.8%). June PPI +4.7% year-over-year (expected 4.5%; last 4.1%)
Australia's June NAB Business Confidence 6 (expected 8; last 7) and NAB Business Survey 15 (last 15)
Japan's May Machine Tool Orders +11.4% year-over-year (last 14.9%)
In news:
Japan's Finance Minister Taro Aso confirmed that the Japanese government is considering a supplemental budget for the fiscal year if the current disaster recovery funding proves insufficient in covering damages from recent flooding and mud slides.
South Korea is reportedly considering a 10.0% boost to its budget for 2019.
China's President Xi Jinping said his country will help to build ports and railroads in Arabic nations with plans to offer $20 billion in loans to these countries.

Major European indices trade on a higher note with the UK's FTSE (+0.2%) showing relative weakness. Germany's DAX +0.7%, France's CAC +0.7%.
In economic data:
Eurozone July ZEW Economic Sentiment -18.7 (expected -13.2; last -12.6)
Germany's July ZEW Current Conditions 72.4 (expected 78.2; last 80.6) and ZEW Economic Sentiment -24.7 (expected -18.0; last -16.1)
UK's May trade deficit GBP12.36 billion (expected deficit of GBP12.00 billion; last deficit of GBP12.40 billion). May Industrial Production -0.4% month-over-month (expected 0.5%; last -1.0%); +0.8% year-over-year (expected 1.9%; last 1.6%). May Manufacturing Production +0.4% month-over-month (expected 0.9%; last -1.3%); +1.1% year-over-year (expected 1.9%; last 0.9%). May Construction Output +2.9% month-over-month (expected 0.4%; last 0.5%); +1.6% year-over-year (expected -0.5%; last -1.2%). May GDP +0.3% month-over-month, as expected (last 0.2%)
France's May Industrial Production -0.2% month-over-month (expected 0.7%; last -0.5%)
Italy's May Industrial Production +0.7% month-over-month (expected 0.9%; last -1.3%); +2.1% year-over-year (expected 2.7%; last 1.9%)
In news:
China's Premier Li Keqiang and German Chancellor Angela Merkel signed a set of deals that include joint cooperation projects between governmental agencies and large German companies. The total value of the agreements is estimated at EUR20 billion.
In the UK, Jeremy Hunt was named Foreign Secretary, replacing Boris Johnson.

07:30AM ET
[BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +28.80.

06:58AM ET
[BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +22.30.

06:58AM ET
[BRIEFING.COM] Nikkei...22197...+144.70...+0.70%. Hang Seng...28682...-6.30...0.00%.

06:58AM ET
[BRIEFING.COM] FTSE...7711.05...+23.10...+0.30%. DAX...12587.71...+43.80...+0.40%.

04:25PM ET

[BRIEFING.COM] Stocks rallied for a third consecutive session on Monday as investors shelved their trade war fears and set their sights on the Q2 earnings season, which will unofficially kick off on Friday. The S&P 500 and the Nasdaq advanced 0.9% apiece, and the Dow added 1.3%, climbing back into positive territory for the year (+0.2% YTD). The market started in the green and climbed steadily throughout the session.

Growth-sensitive sectors were the top-performing groups on Monday, underlining a risk-on attitude from market participants. Financials (+2.3%), industrials (+1.8%), and energy (+1.5%) finished atop the sector standings, while the top-weighted information technology space (+0.8%) struggled to keep pace -- although it did gain some ground in the afternoon.

On the downside, four groups -- mostly countercyclical -- finished in negative territory. The lightly-weighted utilities sector was particularly weak, tumbling 3.1%, following an impressive four-week run; the group surged 10.5% from June 12 to July 6.

In corporate news, Groupon (GRPN 4.83, +0.47) rallied 10.7% after Recode reported that the company is looking for a buyer, but Twitter (TWTR 44.14, -2.51) dropped 5.4% following a Washington Post report that the company has sharply escalated its battle against fake accounts, putting user growth at risk. Also of note, Dow component Pfizer (PFE 37.16, +0.05) finished roughly flat after President Trump singled the company out for high drug prices.

Elsewhere, U.S. Treasuries sold off, pushing yields higher across the curve; the benchmark 10-yr yield climbed three basis points to 2.86%. WTI crude futures rose 0.3% to $74.04 per barrel -- nearly a new three-and-a-half year high -- and the U.S. Dollar Index ticked up 0.1% to 93.82.

Overseas, the UK's Foreign Minister Boris Johnson, Brexit Minister David Davis, and Parliamentary Private Secretary to the Department of Transportation Chris Green resigned from government due to ideological differences with Prime Minister Theresa May.

Separately, President Trump said China may be "exerting negative pressure" on a deal between the U.S. and North Korea. Over the weekend, North Korean officials accused the U.S. of being "gangster-like" in its demand for denuclearization following two days of talks with Secretary of State Mike Pompeo.

Reviewing Monday's economic data, which was limited to the Consumer Credit report for May:

The Consumer Credit report for May showed an increase of $24.6 billion (Briefing.com consensus $12.4 billion). April credit growth was revised to $10.3 billion from $9.3 billion.
The key takeaway from the report is that the surge in credit expansion will serve as a catalyst for a strong pickup in consumer spending that should manifest itself in a strong Q2 GDP number.

Looking ahead, investors will receive the NFIB Small Business Optimism Index for June and the Job Openings and Labor Turnover Survey for June on Tuesday.

Nasdaq Composite +12.4% YTD
Russell 2000 +11.0% YTD
S&P 500 +4.1% YTD
Dow Jones Industrial Average +0.2% YTD

Dow: +320.11… | Nasdaq: +67.81… | S&P: +24.35…
NASDAQ Adv/Dec 1861/1130. …NYSE Adv/Dec 1877/1087.

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