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 Post subject: July 5th Thursday Price Action Trade Result Profit $2250.00
PostPosted: Thu Jul 05, 2018 6:23 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3231
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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Twitter @ http://twitter.com/wrbtrader (24/7)

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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 @ $2250.00 dollars or +22.50 points, Emini RTY ($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 @ $2250.00 dollars

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=182&t=2866

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 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

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 04:15PM ET
Dow: +181.92… | Nasdaq: +83.75… | S&P: +23.39…
NASDAQ Vol: 1.74 bln… Adv: 2007… Dec: 933…
NYSE Vol: 810 mln… Adv: 2205… Dec: 789…

Moving the Market

Tariffs on imports from China set to go into effect at midnight

U.S. officials reportedly looking at eliminating all tariffs on auto trade between the U.S. and Europe

FOMC Minutes for June meeting indicates business contacts in many districts expressed concerns about trade policy and that some have scaled back capital spending or postponed plans as a result of uncertainty

Broad-based participation

Sector Watch
Strong: Technology, Consumer Staples, Health Care, Real Estate, Materials
Weak: Energy

04:15PM ET

[BRIEFING.COM] The stock market took back on Thursday what it lost on Tuesday, and then some, in what has become a virtual seesaw of activity surrounding trade headlines -- real, perceived, or otherwise.

Today, the bulls won out, capitalizing on thin trading conditions, robust leadership from the S&P 500 information technology sector (+1.5%), and opportunistic reports that U.S. and EU officials may be deliberating over the possibility of eliminating all tariffs on auto imports to the EU and U.S.

It wasn't just a case of the information technology sector carrying the day, however. The gains were broad based and featured advances by 10 of 11 economic sectors. Solid gains were also registered by the consumer staples (+1.5%), health care (+1.1%), materials (+1.0%), and real estate (+1.4%) sectors.

The lone laggard was the energy sector (-0.2%), which fell in conjunction with oil prices ($73.04, -$1.28, -1.7%) after a bearish weekly inventory report. The energy sector's loss barely registered, however, as sellers lacked conviction overall in the post-Fourth of July trade.

Volume was on the light side, which was to be expected as many market participants remained on vacation -- or at least away from the stock market.

The participants who were involved today showed an affinity for the semiconductor stocks, which rallied around Micron (MU 52.84, +1.36, +2.6%) affirming its fiscal fourth quarter revenue outlook and some bargain-hunting activity following a rough patch for industry components over the last month.

The relative strength of the semiconductor stocks drove the outperformance of the information technology sector along with a cohort of familiar mega-cap names that included Apple (AAPL 185.40, +1.48, +0.8%), Facebook (FB 198.45, +5.72, +3.0%), and Alphabet (GOOG 1124.27, +21.38, +1.9%). The Philadelphia Semiconductor Index surged 2.7%.

By and large, the market seemed impervious to the understanding that the U.S. is poised to levy tariffs on $34 billion worth of Chinese goods, effective at midnight tonight, and that China is set to retaliate in kind with tariffs on a comparable amount of U.S. goods.

The insouciant trading behavior was viewed as a tacit sign that this tariff action has been priced in already and that the market still expects a full-fledged trade war to be avoided.

That perception could shift on the "next headline," but on Thursday the market traded on positive thoughts and not negative ones.

To that end, the FOMC Minutes for the June meeting were released at 2:00 p.m. ET. There weren't any notable surprises in the text, which is why there wasn't much reaction overall in the market to their release.

One passage that caught some added attention was an acknowledgement that contacts in many districts were concerned about the possible adverse effects of tariffs and other proposed trade restrictions and that contacts in some districts scaled back, or postponed, capital spending plans as a result of the uncertainty over trade policy.

Following a brief hiccup after the release of the Minutes, the major indices would all go on to reach new highs for the session, which were just a smidgen above today's closing prices.

Today's economic calendar featured four releases:

The MBA Mortgage Applications Index for the week ending June 30 (actual -0.5%; Prior -4.9%)
The ADP Employment Change Report for June (Actual 177,000; Briefing.com consensus 180,000; Prior revised to 189,000 from 178,000)
The key takeaway from the report is that it reflects difficulty for employers in finding qualified workers
The Initial Claims Report for the week ending June 30 (Actual 231,000; Briefing.com consensus 225,000; Prior revised to 228,000 from 227,000)
The key takeaway from this report is that there are no alarm bells ringing in it. The initial claims and continuing jobless claims levels continue to be low and encouraging, which is why the market keeps hitting the snooze button upon its release.
The ISM Non-Manufacturing PMI for June (Actual 59.1; Briefing.com consensus 58.3; Prior 58.6)
The key takeaway from the report is that it matched an uptick in the ISM Manufacturing Index for June, suggesting there was an acceleration in both manufacturing and non-manufacturing activity. That will help substantiate the belief that second quarter GDP growth is poised to pick up noticeably from the first quarter.

Friday's economic calendar will feature the Employment Situation Report for June and the Trade Balance Report for May.

Nasdaq Composite +9.9% YTD
Russell 2000 +9.2% YTD
S&P 500 +2.4% YTD
Dow Jones Industrial Average -1.4% YTD

Dow: +181.92… | Nasdaq: +83.75… | S&P: +23.39…
NASDAQ Adv/Dec 2007/933. …NYSE Adv/Dec 2205/789.

03:40PM ET
[BRIEFING.COM]

Energy Settlement Prices:
August Crude Oil futures fell $1.28 (-1.72%) to $73.04/barrel
August Natural Gas settled unch at $2.84/MMBtu
July RBOB Gasoline settled unch at $2.13/gallon
July Heating oil futures unch at $2.18/gallon
Agriculture Settlement Prices:
Sept corn settled $0.02 lower at $3.51/bushel
Sept wheat settled $0.14 higher at $5.05/bushel
Aug soybeans settled $0.10 lower at $8.38/bushel
Metals Settlement Prices:
Aug gold settled today's session up $1.20 (0.1%) at $1258.80/oz
Sept silver settled today's session $0.03 lower (0.25%) at $16.10/oz
Sept copper settled $0.03 lower (1.05%) at $2.83/lb

Dow: +165.38… | Nasdaq: +75.56… | S&P: +21.05…
NASDAQ Adv/Dec 2044/927. …NYSE Adv/Dec 2118/850.

03:00PM ET

[BRIEFING.COM] Entering the final hour of trading, the major indices are stuck near the upper end of today's trading range. Nothing wrong with that since the upper end is comfortably above their starting levels.

The S&P 500 information technology sector (+1.2%) has been a bedrock of support all day, aided by the outperformance of the semiconductor industry and an influential cohort of mega-cap stocks that includes Apple (AAPL 185.66, +1.74, +1.0%), Facebook (FB 197.72, +4.99, +2.6%), Alphabet (GOOG 1125.10, +22.21, +2.0%), and Microsoft (MSFT 99.67, +0.62, +0.6%).

Beyond that popular area, there is strength in what has been an unpopular area most of this year: the consumer staples sector (+1.1%).

The latter is traditionally a defensive-oriented sector, so it could point to some possible hedging on trade headlines that it is running alongside the information technology sector in today's leadership ranks.

Regardless, it all counts for a good showing for the S&P 500 when 10 out of 11 sectors -- defensive or not -- are trading to the upside, as is currently the case.


Dow: +138.80… | Nasdaq: +71.58… | S&P: +18.81…
NASDAQ Adv/Dec 1955/915. …NYSE Adv/Dec 2077/868.

02:30PM ET

[BRIEFING.COM] The release of the FOMC Minutes for the June meeting at the top of the hour caused a little hiccup for the market, yet the major indices continue to hold the bulk of today's gains.

One passage that stood out, in light of the increased attention on trade issues, is that contacts in many districts "...expressed concern about the possible adverse effects of tariffs and other proposed trade restrictions, both domestically and abroad, on future investment activity; contacts in some Districts indicated that plans for capital spending had been scaled back or postponed as a result of uncertainty over trade policy."

This is consistent with the commentary Fed Chair Powell provided at his press conference at the time of the June meeting, so it isn't a total surprise. Still, it underscores the risks to business and consumer confidence, and a potential spending slowdown, posed by protectionist trade measures.
Dow: +130.16… | Nasdaq: +63.36… | S&P: +17.39…
NASDAQ Adv/Dec 1919/939. …NYSE Adv/Dec 2069/868.

02:00PM ET

[BRIEFING.COM] There has been little change in the stock market over the last hour, with the exception of the Russell 2000 (+0.8%), which has picked up some steam and is now outlegging both the S&P 500 (+0.7%) and Dow Jones Industrial Average (+0.6%).

Separately, the energy sector (-0.03%) continues to trail the action as sliding oil prices ($73.15, -0.99, -1.3%) have curtailed buying interest today in the sector.

Notwithstanding the drop in oil prices, the transport stocks aren't doing much collectively. That's owed to a relatively weak showing by several trucking components, such as J.B. Hunt Transportation (JBHT 120.19, -1.83, -1.5%) and C.H. Robinson Worldwide (CHRW 83.91, -1.08, -1.3%), both of which are down on relatively light volume.

The Dow Jones Transportation Average, which is accorded leading indicator status, is up 0.2% today and down 2.1% this year, versus the S&P 500, which is up 2.2% year-to-date.
Dow: +148.56… | Nasdaq: +64.11… | S&P: +18.34…
NASDAQ Adv/Dec 1901/941. …NYSE Adv/Dec 2020/896.

01:35PM ET

[BRIEFING.COM] The major U.S. indices are just below their best levels of the day as stocks rally in Wall Street's first day back at the trading desk following the Independence Day holiday.

A look inside the Dow Jones Industrial Average shows that Intel (INTC 50.86, +1.39), Walgreens Boots Alliance (WBA 61.89, +1.13), & Johnson & Johnson (JNJ 127.97, +2.26) are outperforming. Intel is leading the Dow as semiconductors stage a strong recovery from Tuesday drop, which came after a Chinese court issued a temporary injunction against Micron (MU 52.63, +1.15), while Walgreens continues to recover from last week's slump that was in the wake of Amazon (AMZN 1701.00, +7.04) unveiling its entry into the online pharmacy business through the acquisition of PillPack

Conversely, Travelers (TRV 122.40, -0.37) is the worst-performing Dow component as shares display relative weakness, seeing an extension of their multi-week downtrend.

On the heels of today's rally, the DJIA is currently +0.25% this week.
Dow: +182.76… | Nasdaq: +72.79… | S&P: +21.25…
NASDAQ Adv/Dec 1884/945. …NYSE Adv/Dec 1991/929.

01:00PM ET

[BRIEFING.COM] The stock market has traded predominately with a bullish mindset today, although it did have a moment around mid-morning when its mindset wavered and the major indices threatened to give back all of their morning gains. It soon regrouped, however, and now sits near its best levels of the day.

The reported catalyst for the bullish bias revolves around an abatement of trade concerns as press reports have suggested EU and U.S. officials might be on their way to discussing a proposal that eliminates tariffs on auto imports.

If nothing else, those reports have created a sense that there has been a conversational step with the EU in the right trade direction. That thought has seemingly overshadowed the recognition that U.S. tariffs on $34 billion worth of Chinese goods will most likely take effect at midnight and will certainly be met by a reciprocal response from China if they do.

The market hasn't traded today with a great deal of angst regarding the Chinese tariffs, suggesting perhaps that the tariff action has been priced in already and that market participants still don't think a full-fledged trade war will break out on the other side of it.

It's an insular thought, reserved perhaps for only today's market participants taking advantage of thin trading conditions and vacation-oriented trading desks.

The trading momentum has been mostly to the upside and it has been driven mostly by the semiconductor stocks, evidenced by a 2.1% gain in the Philadelphia Semiconductor Index, and the S&P 500 information technology sector (+1.2%).

Micron (MU 52.70, +1.22, +2.4%) has been upside leader in the semiconductor space after it reaffirmed its fiscal fourth quarter revenue outlook and downplayed concerns about the negative sales impact of a Chinese court approving an injunction against two of its subsidiaries, which prevents them from selling chips.

Buying interest, however, has been fairly broad-based. The consumer staples sector (+1.1%) has been another upside leader along with the health care (+0.9%), real estate (+0.8%), and materials (+0.8%) sectors. The biggest laggard today is the energy sector (-0.1%), which is tracking a downturn in oil prices that has stemmed from a bearish inventory report.

Today's economic calendar has featured four releases:

The MBA Mortgage Applications Index for the week ending June 30 (actual -0.5%; Prior -4.9%)
The ADP Employment Change Report for June (Actual 177,000; Briefing.com consensus 180,000; Prior revised to 189,000 from 178,000)
The key takeaway from the report is that it reflects difficulty for employers in finding qualified workers
The Initial Claims Report for the week ending June 30 (Actual 231,000; Briefing.com consensus 225,000; Prior revised to 228,000 from 227,000)
The key takeaway from this report is that there are no alarm bells ringing in it. The initial claims and continuing jobless claims levels continue to be low and encouraging, which is why the market keeps hitting the snooze button upon its release.
The ISM Non-Manufacturing PMI for June (Actual 59.1; Briefing.com consensus 58.3; Prior 58.6)
The key takeaway from the report is that it matched an uptick in the ISM Manufacturing Index for June, suggesting there was an acceleration in both manufacturing and non-manufacturing activity. That will help substantiate the belief that second quarter GDP growth is poised to pick up noticeably from the first quarter.

The FOMC Minutes for the June meeting will be released at 2:00 p.m. ET and will be a focal point in the afternoon session.
Dow: +164.11… | Nasdaq: +65.38… | S&P: +19.09…
NASDAQ Adv/Dec 1860/967. …NYSE Adv/Dec 1957/932.

12:30PM ET

[BRIEFING.COM] It's all aboard now in terms of sector participation, as the indices have extended to new highs for the session on the back of gains in all 11 sectors.

Trade concerns remain in the mix as a market driver, but for today's crowd, there has been an inclination to look past the negative and to trade around the positive.

With respect to the latter observation, it is telling that the Russell 2000 (+0.4%), which is the domain of mostly domestic-oriented companies, is trailing the other major indices. In turn, the U.S. Dollar Index (94.37, -0.31, -0.3%) is on the weaker side of things today.

It can't be said, though, that trade concerns have been set aside altogether. The Treasury market is holding firm and doesn't reflect a total risk-on demeanor. The 10-yr note is currently unchanged and yielding 2.83%.
Dow: +171.12… | Nasdaq: +64.06… | S&P: +18.96…
NASDAQ Adv/Dec 1793/1002. …NYSE Adv/Dec 1906/962.

11:55AM ET

[BRIEFING.COM] The bulls are back, but are they in control? It looked questionable only an hour or so ago, yet the selling pressure has subsided and the major indices are back running closer to their opening highs.

The Philadelphia Semiconductor Index is particularly strong today, having gained 2.0% in an interesting move. We say interesting because the semiconductor industry is seen as being among the most vulnerable to a deepening trade rift with China, which provides a major chunk of the semiconductor industry's revenue.

On Friday the U.S. is expected to press ahead with tariffs on $34 billion worth of Chinese goods that will be answered by China with a like response.

Prior to today's session, the Philadelphia Semiconductor Index had dropped 9.4% over the last month, so today's gains could be forged in part on a belief that the initial tariff worries have been priced into the stocks.

In any case, their relative strength is driving the S&P 500 information technology sector (+1.0%), which is driving the broader market. Overall, though, participation is broad based, as there are just two sectors - telecom services (-0.3%) and utilities (-0.1%) -- showing a loss at this time.
Dow: +152.06… | Nasdaq: +49.85… | S&P: +15.13…
NASDAQ Adv/Dec 1764/1034. …NYSE Adv/Dec 1821/1015.

11:30AM ET

[BRIEFING.COM] The major indices are attempting to regain their opening form and have rebounded from a steady bout of selling pressure that wiped out a large chunk of their opening gains.

The information technology sector (+0.8%) continues to provide the muscle and is doing the heavy lifting for the stock market (and investor sentiment).

The S&P 500 is at a watchful technical divide, sitting on top of its 50-day simple moving average (2721.18), and has been on both sides of that line in today's action. The ability to hold support there on the current rebound effort could invite a new wave of buying interest, whereas, failure there would be disappointing and potentially open the door to stepped-up selling pressure.

Separately, the financials are being followed closely as they seemingly toss and turn with the Treasury yield curve, which is undergoing a further flattening today. The spread between the 2-yr note yield (2.55%) and the 10-yr note yield (2.82%) has narrowed to just 27 basis points.

The S&P 500 financial sector, which was up 0.6%, briefly turned negative and is now up 0.2%.
Dow: +107.92… | Nasdaq: +39.07… | S&P: +10.91…
NASDAQ Adv/Dec 1756/1029. …NYSE Adv/Dec 1803/1032.

11:00AM ET

[BRIEFING.COM] The major indices have fallen off their opening highs, and, like Tuesday, are threatening to surrender the entirety of their opening gains.

The S&P 500, Nasdaq, Dow Jones Industrial Average, and Russell 2000 are all up between 0.1% and 0.2%.

The rebound in Micron Technology (MU 52.22, +0.74, +1.4%), after it reaffirmed its fiscal Q4 revenue guidance in spite of a Chinese court imposing an injunction that will prevent sales by two Micron subsidiaries, and other semiconductor issues, has helped underpin the S&P 500 information technology sector (+0.4%). The Philadelphia Semiconductor Index is up 1.3%.

The relative strength in the market's most heavily-weighted sector has underpinned the broader market, along with gains in the health care (+0.3%) and consumer staples (+0.3%) sectors.
Dow: +13.16… | Nasdaq: +9.71… | S&P: +3.78…
NASDAQ Adv/Dec 1495/1192. …NYSE Adv/Dec 1611/1148.

10:35AM ET
[BRIEFING.COM]

Commodities are starting the day off slightly higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently +0.05% at 85.97
Dollar index is currently -0.1% at 94.06
Looking at energy...
Aug WTI crude oil futures are now -$0.06 at $74.06/barrel
In other energy, Aug natural gas is -$0.03 at $2.84/MMBtu
Moving on to metals...
Aug gold is currently +$4.70 at $1258.20/oz, while Jul silver is +$0.04 at $16.09/oz
Jul copper is now -$0.08 at $2.84/lb

Dow: +84.49… | Nasdaq: +16.83… | S&P: +8.06…
NASDAQ Adv/Dec 1502/1192. …NYSE Adv/Dec 1627/1148.

10:00AM ET

[BRIEFING.COM] The S&P 500 trades higher by 0.4% while the Nasdaq Composite (+0.5%) remains a step ahead.

Just in, the ISM Services Index for June ticked up to 59.1 (Briefing.com consensus 58.3) from an unrevised reading of 58.6 in May.
Dow: +116.01… | Nasdaq: +37.57… | S&P: +11.71…
NASDAQ Adv/Dec 1505/1124. …NYSE Adv/Dec 1617/1090.

09:45AM ET

[BRIEFING.COM] The major averages have started the day on a higher note amid gains in nine out of eleven sectors. The S&P 500 trades higher by 0.5% while the Nasdaq Composite (+0.7%) outperforms.

The relative strength in the Nasdaq comes as the technology sector (+0.8%) grabs the early lead. Meanwhile, other influential groups like financials (+0.2%), health care (+0.5%), and industrials (+0.2%) are mixed relative to the benchmark index.

On the downside, utilities and telecom services hover just below their flat lines.

Treasuries have reclaimed the bulk of their opening losses with the 10-yr yield returning to unchanged at 2.84%.
Dow: +146.87… | Nasdaq: +53.52… | S&P: +14.55…
NASDAQ Adv/Dec 1755/837. …NYSE Adv/Dec 1788/854.

09:14AM ET
[BRIEFING.COM] S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +46.30.

The stock market is on track for a higher start as futures on the S&P 500 trade 16 points above fair value.

The opening advance will follow a mixed overnight affair that saw weakness in Asian trade, but an improvement in sentiment during the European session. That rebound was owed to a Handelsblatt report, which noted that Richard Grenell, who is the U.S. Ambassador to Germany, was asked to explore a potential elimination of all tariffs on vehicles traded between the United States and European Union. Executives from top German automakers have previously expressed interest in doing away with all tariffs.

U.S. Treasuries trade on a lower note with the 10-yr yield rising two basis points to 2.85%.

The ISM Services report for June (Briefing.com consensus 58.3; last 58.6) will be delivered at 10:00 ET while the minutes from the June FOMC meeting will be released at 14:00 ET.

08:58AM ET
[BRIEFING.COM] S&P futures vs fair value: +16.00. Nasdaq futures vs fair value: +49.30.

The S&P 500 futures trade 16 points above fair value.

Equity indices in the Asia-Pacific region ended Thursday on a lower note. China's Commerce Ministry spokesman Gao Feng said that China will not fire the first shot in the tariff dispute with the U.S., but will implement reciprocal tariffs if the United States imposes duties on imports from China. Tariffs are set to be implemented at midnight. China's reserve requirement ratio cut went into effect today, freeing up about CNY700 billion in liquidity. The co-founder of HNA Group, Wang Jian, died after falling from a window in southern France.

In economic data:
South Korea's May current account surplus KRW8.68 billion (last surplus of KRW1.77 billion)
Hong Kong's June Manufacturing PMI 47.7 (last 47.8)

---Equity Markets---

Japan's Nikkei fell 0.8%. Pacific Metals, Sony, TDK, Daikin Industries, Fast Retailing, Panasonic, TOTO, and Bridgestone lost between 1.5% and 4.5%. On the upside, Yamaha, Komatsu, KDDI, Subaru, Mazda Motor, and Tokyo Electron gained between 0.5% and 1.7%.
Hong Kong's Hang Seng shed 0.2%. Financials like Bank of China, ICBC, AIA Group, and Ping An Insurance surrendered between 0.7% and 4.9%.
China's Shanghai Composite lost 0.9%. Guangdong HEC Technology Holdings, Gree Real Estate, Shen Ma Industry, China Meheco Co, and Huayi Electric lost between 8.6% and 10.0%.
India's Sensex slipped 0.2%. Infosys was the weakest performer, falling 4.5%, while Tata Steel, Tata Motors, Reliance Industries, AXIS Bank, and ICICI Bank lost between 0.5% and 2.7%.

Major European indices are on the plus side, bolstered by reports that the U.S. will back off the threat to impose tariffs on imported cars from the EU if the EU removed its tariffs on imported vehicles from the U.S. German automakers are reportedly on board with the idea, which had been previously suggested but is nonetheless creating a more positive trading tone. Separately, some ECB members are thinking the first rate hike should occur in September or October 2019, and not December as the market is currently thinking. Brexit plans continue, meanwhile, and the word today is that Brexit Secretary Davis is not on board with PM May's latest proposal of a facilitated customs arrangement.

In economic data:
German Factory Orders for May +2.6% month-over-month (expected 1.1%; last -1.6%)
Spanish Industrial Production for May +1.6% year-over-year (expected 1.7%; last 2.1%)
Swiss CPI for June 0.0% month-over-month (expected 0.1%; last 0.4%; CPI +1.1% year-over-year (expected 1.1%; last 1.0%)
Eurozone Retail PMI 51.8 (last 51.7)

---Equity Markets---

UK's FTSE has climbed 0.5%, fueled by gains in financial and basic materials stocks.Anglo American, Glencore, Royal Dutch Shell, Provident Financial, Rio Tinto, Standard Chartered, Barclays, BHP Billiton, and BP are all up at least 1.3%.
France's CAC is higher by 1.1%, with all but three of its components - L'Oreal (-0.6%), Louis Vuitton (-0.2%), and Hermes Intl. (-0.2%) - in green figures.Sodexo (+7.3%), Valeo (+4.4%), Michelin (+3.6%), Peugeot (+3.5%), and Arcelor Mittal (+3.2%) top the list of winners.
Germany's DAX trades up 1.3%, powered by the automakers.BMW (+5.5%), Daimler (+4.7%), and Volkswagen (+4.4%) are the three best-performing components, followed by Linde 1 (+3.8%), Commerzbank (+3.6%), and Deutsche Bank (+3.3%).

08:31AM ET
[BRIEFING.COM] S&P futures vs fair value: +18.50. Nasdaq futures vs fair value: +51.80.

The S&P 500 futures trade 19 points above fair value.

The latest weekly initial jobless claims count totaled 231,000, while the Briefing.com consensus expected a reading of 225,000. Today's tally was above the revised prior week count of 228,000 (from 227,000). As for continuing claims, they increased to 1.739 million from a revised count of 1.707 million (from 1.705 million).

The ADP National Employment Report showed an increase of 177,000 in June (Briefing.com consensus 180,000). The May reading was revised to 189,000 from 178,000.

08:01AM ET
[BRIEFING.COM] S&P futures vs fair value: +18.50. Nasdaq futures vs fair value: +51.80.

U.S. equity futures trade in the green with the S&P 500 futures hovering 19 points above fair value.

The stock market is looking for an upbeat start to the post-holiday session, but the overnight affair was mixed, as Asian markets retreated while European indices have advanced after Handelsblatt reported that the U.S. ambassador to Germany Richard Grenell said he was ordered to negotiate lowering tariffs on auto imports and exports to and from Europe to zero.

The auto-related news followed comments from China's Commerce Ministry spokesman, who said China will not fire the first shot in the tariff dispute with the U.S., but will implement reciprocal tariffs if the United States imposes duties on imports from China. The tariffs are set to go into effect at midnight.

U.S. Treasuries hold modest losses with the 10-yr yield rising two basis points to 2.86%. The U.S. Dollar Index is down 0.3% at 94.38, hovering at a one-week low.

The weekly MBA Mortgage Index declined 0.5% to follow last week's 4.9% decrease. The ADP Employment Change report (Briefing.com consensus 180K) for June will be released at 8:15 ET while weekly initial claims (Briefing.com consensus 225K) and continuing claims will be reported at 8:30 ET. The June ISM Services report (Briefing.com consensus 10:00 ET) will be released at 10:00 ET while the minutes from the June FOMC meeting will cross the wires at 14:00 ET.

In corporate news of note:

Embraer (ERJ 27.00, +0.79): +3.0% after agreeing to establish a strategic partnership with Boeing (BA 332.90, -0.03).

Reviewing overnight developments:

Asian markets ended Thursday on a lower note. Japan's Nikkei -0.8%, Hong Kong's Hang Seng -0.2%, and China's Shanghai Composite -0.9%.
In economic data:
South Korea's May current account surplus KRW8.68 billion (last surplus of KRW1.77 billion)
Hong Kong's June Manufacturing PMI 47.7 (last 47.8)
In news:
China's reserve requirement ratio cut went into effect today, freeing up about CNY700 billion in liquidity
The co-founder of HNA Group, Wang Jian, died after falling from a window in southern France

Major European indices trade in the green. UK's FTSE +0.6%, France's CAC +1.2%, and Germany's DAX +1.6%.
In economic data:
German Factory Orders for May +2.6% month-over-month (expected 1.1%; last -1.6%)
Spanish Industrial Production for May +1.6% year-over-year (expected 1.7%; last 2.1%)
Swiss CPI for June 0.0% month-over-month (expected 0.1%; last 0.4%; CPI +1.1% year-over-year (expected 1.1%; last 1.0%)
Eurozone Retail PMI 51.8 (last 51.7)
In news:
UK's Brexit Secretary David Davis is reportedly not on board with Prime Minister Theresa May's latest proposal of a facilitated customs arrangement

06:58AM ET
[BRIEFING.COM] S&P futures vs fair value: +13.30. Nasdaq futures vs fair value: +35.00.

06:57AM ET
[BRIEFING.COM] Nikkei...21547...-170.10...-0.80%. Hang Seng...28182...-59.60...-0.20%.

06:57AM ET
[BRIEFING.COM] FTSE...7610.81...+37.70...+0.50%. DAX...12491.30...+173.70...+1.40%.

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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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