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 Post subject: July 9th Monday Price Action Trade Result Profit $1537.50
PostPosted: Mon Jul 09, 2018 8:01 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
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Telephone: +1 708 572-4885
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
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 @ $1537.50 dollars or +30.75 points, Emini RTY ($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 @ $1537.50 dollars

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=182&t=2868

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 04:25PM ET
Dow: +320.11… | Nasdaq: +67.81… | S&P: +24.35…
NASDAQ Vol: 1.81 bln… Adv: 1861… Dec: 1130…
NYSE Vol: 744.4 mln… Adv: 1877… Dec: 1087…
Find out what makes your portfolio tick with Morningstar Premium >>

Moving the Market

Carry-over momentum helps push stocks higher for third straight session

Top-weighted technology group lags a bit, keeps gains in check

Cyclical financials, industrials, and energy groups soar; health care also strong

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

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.

03:30PM ET
[BRIEFING.COM]

Energy Settlement Prices:
August Crude Oil futures rose $0.14 (0.19%) to $73.91/barrel
August Natural Gas settled $0.03 lower (-1.05%) at $2.83/MMBtu
July RBOB Gasoline settled $0.04 higher (1.9%) at $2.15/gallon
July Heating oil futures settled $0.03 higher (1.38%) at $2.20/gallon
Agriculture Settlement Prices:
Sept corn settled $0.06 lower at $3.54/bushel
Sept wheat settled $0.06 lower at $5.08/bushel
Aug soybeans settled $0.21 lower at $8.56/bushel
Metals Settlement Prices:
Aug gold settled today's session up $4.00 (0.32%) at $1259.70/oz
Sept silver settled today's session $0.03 higher (0.44%) at $16.14/oz
Sept copper settled $0.03 higher (1.06%) at $2.85/lb

Dow: +319.74… | Nasdaq: +53.11… | S&P: 21.82…
NASDAQ Adv/Dec 1856/1115. …NYSE Adv/Dec 1886/1088.

03:00PM ET

[BRIEFING.COM] The major averages enter the final hour of trading with gains between 0.7% and 1.4%.

Just in, 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.
Dow: +337.51… | Nasdaq: +55.48… | S&P: +23.39…
NASDAQ Adv/Dec 1797/1087. …NYSE Adv/Dec 1910/1046.

02:30PM ET

[BRIEFING.COM] The Nasdaq Composite approaches HoDs in recent trade, up 0.6%.

Today's strength in the S&P 500 financials (+2.0%), industrials (+1.8%), and energy (+1.5%) groups has been widely covered. The groups at the bottom of the ladder -- utilities (-2.7%), telecom services (-1.3%), and consumer staples (-0.4%) -- take a break from their recent runs.

This morning, Morgan Stanley upgraded their view on the Consumer Staples and Telecom Services groups to Equal Weight from Underweight in conjunction with their recommendation downgrade of Technology stocks to Underweight. Consumer staples and beverage companies Pepsico (PEP 107.90, -1.66, -1.5%) and Coca-Cola (KO 44.38, -0.25, -0.6%) trade in negative territory this afternoon. Today, the Consumer Staples SPDR (XLP 52.02, -0.20, -0.4%) takes a break from its recent run; into today's trade, the XLP gained nearly 6.6% since early May lows.

Telecom names Verizon (VZ 50.77, -0.12, -0.2%), Shenandoah Telecom (SHEN 34.15, -0.35, -1.0%), and Frontier Communications (FTR 5.43, -0.08, -1.5%) buck the broader market trend higher today as the telecom space is poised to take a break from its recent six-session winning streak. During that period, the iShares U.S. Telecommunications ETF (IYZ 28.23, +0.03, +0.1%) posts gains of 4.0%.
Dow: +308.07… | Nasdaq: +49.01… | S&P: +20.36…
NASDAQ Adv/Dec 1827/1055. …NYSE Adv/Dec 1948/1001.

01:55PM ET

[BRIEFING.COM] The major averages haven't shifted much since our last update; the Dow still leads, up better than 1.0% on the session.

Gold futures settled 0.3% higher at $1,259.60/oz, it's highest mark in nearly two weeks. The yellow metal shows modest gains in the face of weakness in the dollar, though the greenback has pared its morning declines.

The dollar reverses this morning's losses in recent action, now up 0.1% at 94.10 vs losses of 0.3% at one point today.
Dow: +284.32… | Nasdaq: +45.10… | S&P: +19.98…
NASDAQ Adv/Dec 1795/1065. …NYSE Adv/Dec 1931/993.

01:30PM ET

[BRIEFING.COM] The major U.S. indices saw a modest downtick earlier this hour in conjunction with a critical tweet from President Trump in regards to drug prices, but stocks continue to bolster meaningful gains to kick off the trading week.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 140.57, +5.16), JP Morgan (JPM 106.81, +2.75), & Goldman Sachs (GS 227.10, +5.31) are outperforming amid broad market strength.

Conversely, Procter & Gamble (PG 78.14, -1.17) is the worst-performing Dow component after being downgraded to Hold from Buy at Jefferies.

On the heels of today's gains, the DJIA is back in positive territory for the year.
Dow: +279.40… | Nasdaq: +34.75… | S&P: +18.70…
NASDAQ Adv/Dec 1752/1090. …NYSE Adv/Dec 1896/1017.

12:55PM ET

[BRIEFING.COM] Stocks are up for a third consecutive session, hovering near their best marks of the day. The S&P 500 is up 0.8%, and the Dow Jones Industrial Average is higher by 1.3%. However, the Nasdaq Composite is lagging a bit, up just 0.5%, as tech shares show relative weakness.

Growth-sensitive cyclical sectors are leading the way, highlighting investors' continued preference for riskier assets. The financials (+2.1%), industrials (+1.8%), and energy (+1.2%) spaces are the top-performing groups, followed by the consumer discretionary (+0.8%) and materials (+0.8%) sectors. The countercyclical health care space (+0.8%) is also strong.

However, the top-weighted information technology sector (+0.3%), which represents a quarter of the broader market, has struggled to keep pace despite a 1.1% increase in shares of Apple (AAPL 190.05, +2.08). Chipmakers are weighing on the sector, pushing the Philadelphia Semiconductor Index lower by 0.2%.

On the corporate front, shares of Helen of Troy (HELE 117.98, +16.02) have spiked 15.6% today, hitting a new all-time high, after the personal and household products company reported a blow-out quarter this morning and raised its profit guidance for the fiscal year.

Conversely, shares of Twitter (TWTR 42.47, -4.18) are down 9.0% today, hitting a four-week low, after The Washington Post reported that the social media company has sharply escalated its battle against fake accounts, putting user growth at risk. According to the article, Twitter suspended more than 70 million accounts in May and June.

Elsewhere, U.S. Treasuries are under pressure, pushing yields higher across the curve; the benchmark 10-yr yield is up two basis points at 2.85%. Meanwhile, WTI crude futures are down 0.5% at $73.43 per barrel, and the U.S. Dollar Index is up 0.1% at 93.85 after being down as much as 0.4% earlier.

Overseas, Brexit Secretary Davis resigned over his opposition to UK Prime Minister May's Brexit plan, and North Korea reportedly took exception to Secretary of State Pompeo's "request" for denuclearization. Both Asian and European stock markets finished Monday in the green.
Dow: +306.54… | Nasdaq: +37.08… | S&P: +21.29…
NASDAQ Adv/Dec 1753/1085. …NYSE Adv/Dec 1887/1020.

12:25PM ET

[BRIEFING.COM] Stocks continue hovering at session highs, with the Dow Jones Industrial Average up 1.2%.

Seven sectors are in the green -- financials (+2.0%), consumer discretionary (+0.9%), industrials (+1.8%), energy (+1.1%), materials (+0.9%), technology (+0.4%), and health care (+0.8%) -- while four are in the red -- consumer staples (unch), utilities (-1.3%), telecom services (-1.0%), and real estate (-0.5%).

In Europe, the major bourses finished Monday on a higher note, closing near their best marks of the day. The Euro Stoxx 50 added 0.5%.
Dow: +303.40… | Nasdaq: +38.32… | S&P: +21.74…
NASDAQ Adv/Dec 1766/1067. …NYSE Adv/Dec 1912/976.

11:55AM ET

[BRIEFING.COM] Equity indices are hovering at session highs, sporting gains between 0.5% and 1.1%.

Shares of Twitter (TWTR 42.81, -3.85) are down 8.6% today, hitting a four-week low, following a Washington Post report that the social media company has sharply escalated its battle against fake accounts, putting user growth at risk; according to the article, Twitter suspended more than 70 million accounts in May and June.

Conversely, shares of Helen of Troy (HELE 115.64, +13.69) have spiked 13.4%, hitting a new all-time high, after the personal and household products company reported a blow-out quarter this morning and raised its profit guidance for the fiscal year.
Dow: +275.38… | Nasdaq: +40.40… | S&P: +20.51…
NASDAQ Adv/Dec 1778/1040. …NYSE Adv/Dec 1884/983.

11:25AM ET

[BRIEFING.COM] Stocks have been ticking higher in recent trading, hitting new highs for the day. The S&P 500 is up 0.7%.

The energy sector (+1.4%) is among the top-performing groups today even though crude prices are unchanged; WTI crude futures are flat at $73.78 per barrel. Dow components Exxon Mobil (XOM 82.94, +0.61) and Chevron (CVX 125.83, +1.69) are trading higher by 0.7% and 1.4%, respectively.

Elsewhere, the U.S. Dollar Index is now up 0.1% at 93.81 after being down as much as 0.4% earlier. The greenback is up 0.3% against the British pound at 1.3249 following the resignation of Brexit Secretary David Davis, who will be replaced by Dominic Raab.
Dow: +275.92… | Nasdaq: +41.83… | S&P: +20.37…
NASDAQ Adv/Dec 1805/1005. …NYSE Adv/Dec 1881/967.

11:00AM ET

[BRIEFING.COM] The S&P 500 is still near its opening level, up 0.6%, but the tech-heavy Nasdaq has cut its gain to 0.3% as tech stocks struggle to stay afloat.

Chipmakers are lower this morning, evidenced by a 0.4% decrease in the Philadelphia Semiconductor Index, but the top-weighted information technology sector is still clinging to a slim gain of 0.2%. Tech giant Apple (AAPL 1890.05, +2.08) has helped keep the sector in the green with an advance of 1.1%, and Microsoft (MSFT 101.54, +0.38) and Alphabet (GOOG 1146.96, +6.76) are up 0.4% and 0.6%, respectively.

Meanwhile, the financials, industrials, and energy sectors have extended their opening gains and are now up between 1.2% and 1.8% apiece.
Dow: +256.17… | Nasdaq: +33.09… | S&P: +17.93…
NASDAQ Adv/Dec 1727/1053. …NYSE Adv/Dec 1862/965.

10:40AM ET
[BRIEFING.COM]

Commodities are starting the day off lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.1% at 86.12
Dollar index is currently -0.05% at 93.71
Looking at energy...
Aug WTI crude oil futures are now -$0.11 at $73.69/barrel
In other energy, Aug natural gas is -$0.03 at $2.83/MMBtu
Moving on to metals...
Aug gold is currently +$7.40 at $1263.20/oz, while Jul silver is +$0.11 at $16.18/oz
Jul copper is now +$0.04 at $2.86/lb

Dow: +241.92… | Nasdaq: +25.39… | S&P: +15.26…
NASDAQ Adv/Dec 1660/1087. …NYSE Adv/Dec 1794/1017.

09:55AM ET

[BRIEFING.COM] Equity indices are still comfortably higher, with the S&P 500 sporting a gain of 0.6%.

The heavily-weighted financial sector (+1.3%) is leading today's rally as investors look ahead to the second quarter earnings season, which will kick off on Friday with results from financial giants like JPMorgan Chase (JPM 106.13, +2.07), Citigroup (C 68.08, +0.93), and Wells Fargo (WFC 56.49, +0.60).

In the bond market, U.S. Treasuries are lower, pushing yields higher across the curve; the 10-yr yield is up three basis points at 2.86%.
Dow: +193.17… | Nasdaq: +41.68… | S&P: +15.23…
NASDAQ Adv/Dec 1819/865. …NYSE Adv/Dec 1851/839.

09:40AM ET

[BRIEFING.COM] The major averages are higher in the opening minutes, sporting gains between 0.6% and 0.8%.

Cyclical sectors are leading the charge; the financials (+1.0%), consumer discretionary (+0.6%), industrials (+0.8%), energy (+1.0%), materials (+0.8%), and technology (+0.7%) groups are all in the green. The countercyclical health care space is also higher, showing a gain of 0.5%.

On the downside, the telecom services (-1.0%), utilities (-0.6%), real estate (-0.5%), and consumer staples (-0.3%) groups are in the red.
Dow: +195.87… | Nasdaq: +46.78… | S&P: +15.98…
NASDAQ Adv/Dec 1987/676. …NYSE Adv/Dec 2006/643.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: +10.50. Nasdaq futures vs fair value: +41.80.

Stocks are on course for a higher open, as the S&P 500 futures are trading 11 points, or 0.4%, above fair value.

On the corporate front, Helen of Troy (HELE 119.01, +17.06) is up 16.8% in pre-market trading after reporting a blow-out quarter and raising its profit guidance for the fiscal year. Meanwhile, GameStop (GME 15.66, +0.51) is also solidly higher, up 3.3%, after being initiated with a 'Buy' at Jefferies.

Elsewhere, U.S. Treasury yields are modestly higher, with the benchmark 10-yr yield up three basis points at 2.86%. West Texas Intermediate crude futures are up 0.3% at $73.99 per barrel, and the U.S. Dollar Index is down 0.3% at 93.50, which marks its lowest level in a month.

Today's lone economic report, the Consumer Credit report for May (Briefing.com consensus $12.4 billion), will be released at 3:00 PM ET.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +10.80. Nasdaq futures vs fair value: +44.50.

The S&P 500 futures are trading 11 points, or 0.4%, above fair value.

Equity indices in the Asia-Pacific region began the week on a higher note with markets in China rebounding from their recent weakness. China's Securities Regulatory Commission announced that foreign nationals working in China will be allowed to directly trade Chinese equities. U.S. Secretary of State Mike Pompeo visited North Korea, but DPRK was displeased unilateral demands made by the U.S. official, calling the attitude, "robber-like." An official from South Korea's Finance Ministry announced that South Korea may begin offering 50-yr bonds if there is sufficient market demand.

In economic data:
Japan's June Economy Watchers Current Index 48.1 (expected 48.2; last 47.1). June Bank Lending +2.2% year-over-year (expected 2.0%; last 2.0%). May Current Account Surplus JPY1.85 trillion (expected JPY1.18 trillion; last JPY1.89 trillion)
China's FX Reserves $3.11 trillion (expected $3.10 trillion; last $3.11 trillion)

---Equity Markets---

Japan's Nikkei gained 1.2%. Eisai jumped another 16.3% after reporting positive results from a mid-stage trial of an Alzheimer's drug being developed in conjunction with Biogen. Dainippon Screen Manufacturing, Sony, TDK, Nippon Electric Glass, Showa Denko, SUMCO, Advantest, Olympus, Nikon, and Daikin Industries posted gains between 2.1% and 5.1%.
Hong Kong's Hang Seng rose 1.3%. Galaxy Entertainments, Sands China, Geely Automobile, Sino Land, China Resources Land, China Overseas, and Sunny Optical tech advanced between 2.2% and 4.5%.
China's Shanghai Composite gained 2.5%, erasing the bulk of its July loss. China National Software Service, Fangda Carbon New Material, Huaxin Cement, Chongqing Wanli New Energy, and Topchoice Medical Investment added between 8.8% and 10.0%.
India's Sensex climbed 0.8%, pausing just below its May high. Vedanta, Asian Paints, Yes Bank, AXIS Bank, SBI, Infosys, Wipro, and Tata Motors show gains between 0.8% and 3.1%.

Major European indices trade with gains, though Germany's DAX is on the verge of turning negative. UK's Brexit minister David Davis has resigned, leading to speculation that Prime Minister Theresa May could be forced out. Mr. Davis, who expressed hope that his resignation would prevent the UK government from making additional concessions to the EU, has been replaced by Dominic Raab, who previously served as Minister of State for Housing and Planning.

In economic data:
Eurozone July Sentix Investor Confidence 12.1 (expected 9.0; last 9.3)
Germany's May trade surplus EUR20.30 billion, as expected (last EUR19.00 billion). May Imports +0.7% month-over-month (expected -0.3%; last 2.6%); +1.8% year-over-year (expected 0.8%; last -0.3%)
Swiss June Unemployment Rate 2.6% (expected 2.5%; last 2.7%)

---Equity Markets---

Germany's DAX hovers just above its flat line. Heavyweights like Lufthansa, SAP, Infineon, Allianz, and Bayer are up between 0.2% and 2.9%. On the downside, BASF, Daimler, Siemens, BMW, Deutsche Bank, Volkswagen, and Thyssenkrupp hold losses between 0.4% and 1.6%.
France's CAC is up 0.3%. Consumer names like Accor, Publicis Groupe, Kering, L'Oreal, and Louis Vuitton hold gains between 0.4% and 1.9% while Michelin and Renault hold respective losses of 1.2% and 1.6%.
UK's FTSE has added 0.3%. Select financials and consumer names are among the leaders with Old Mutual, Next, Marks & Spencer, Dixons Carphone, Kingfisher, InterContinental Hotels, Sainsbury, and Pearson are up between 0.7% and 2.8%.

08:28AM ET
[BRIEFING.COM] S&P futures vs fair value: +11.50. Nasdaq futures vs fair value: +43.50.

The S&P 500 futures are trading 12 points, or 0.4%, above fair value.

Wall Street has gotten off to a good start this month; the S&P 500 is up 1.5% month-to-date. Ten of the eleven S&P sectors are in the green for the month, with the health care (+3.1%), utilities (+2.4%), technology (+2.3%), and telecom services (+2.2%) groups leading the charge.

On the downside, the energy sector is at the bottom of the July sector standings with a month-to-date loss of 0.3%.

07:55AM ET
[BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +36.00.

The U.S. equity market looks ready to open the week on a positive note, as the S&P 500 futures are trading 11 points, or 0.4%, above fair value.

Asian stock indices finished Monday solidly higher, with China's Shanghai Composite (+2.5%) leading the charge, and the major bourses in Europe are mostly in the green. The UK's FTSE is up 0.3% despite the resignation of Brexit Secretary David Davis; Prime Minister Theresa May has selected Dominic Raab to replace him.

Elsewhere, U.S. Treasury yields are modestly higher, with the benchmark 10-yr yield up two basis points at 2.85%. West Texas Intermediate crude futures are flat at $73.83 per barrel, and the U.S. Dollar Index is down 0.3% at 93.48, which marks its lowest level in a month.

Today's lone economic report, the Consumer Credit report for May (Briefing.com consensus $12.4 billion), will be released at 3:00 PM ET.

Looking ahead, the second quarter earnings season will kick off on Friday when financial giants like JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) are scheduled to release their quarterly results. In addition, some influential inflationary data -- the Consumer Price Index for June -- will cross the wires on Thursday.

In U.S. corporate news:

Helen of Troy (HELE 115.45, +13.50): +13.2% after reporting a blow-out quarter and raising its profit guidance for the fiscal year.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a higher note with markets in China rebounding from their recent weakness. Japan's Nikkei +1.2%, Hong Kong's Hang Seng +1.3%, China's Shanghai Composite +2.5%, India's Sensex +0.8%.
In economic data:
Japan's June Economy Watchers Current Index 48.1 (expected 48.2; last 47.1). June Bank Lending +2.2% year-over-year (expected 2.0%; last 2.0%). May Current Account Surplus JPY1.85 trillion (expected JPY1.18 trillion; last JPY1.89 trillion)
China's FX Reserves $3.11 trillion (expected $3.10 trillion; last $3.11 trillion)
In news:
China's Securities Regulatory Commission announced that foreign nationals working in China will be allowed to directly trade Chinese equities.
U.S. Secretary of State Mike Pompeo visited North Korea, but DPRK was displeased unilateral demands made by the U.S. official, calling the attitude, "robber-like."
An official from South Korea's Finance Ministry announced that South Korea may begin offering 50-yr bonds if there is sufficient market demand.

Major European indices trade with gains, though Germany's DAX is on the verge of turning negative. France's CAC +0.3%, UK's FTSE +0.3%.
In economic data:
Eurozone July Sentix Investor Confidence 12.1 (expected 9.0; last 9.3)
Germany's May trade surplus EUR20.30 billion, as expected (last EUR19.00 billion). May Imports +0.7% month-over-month (expected -0.3%; last 2.6%); +1.8% year-over-year (expected 0.8%; last -0.3%)
Swiss June Unemployment Rate 2.6% (expected 2.5%; last 2.7%)
In news:
UK's Brexit minister David Davis has resigned, leading to speculation that Prime Minister Theresa May could be forced out. Mr. Davis, who expressed hope that his resignation would prevent the UK government from making additional concessions to the EU, has been replaced by Dominic Raab, who previously served as Minister of State for Housing and Planning.

07:25AM ET
[BRIEFING.COM] S&P futures vs fair value: +11.30. Nasdaq futures vs fair value: +34.80.

07:00AM ET
[BRIEFING.COM] S&P futures vs fair value: +11.50. Nasdaq futures vs fair value: +36.30.

07:00AM ET
[BRIEFING.COM] Nikkei...22052...+264.00...+1.20%. Hang Seng...28688.5...+372.90...+1.30%.

07:00AM ET
[BRIEFING.COM] FTSE...7646.74...+29.00...+0.40%. DAX...12521.64...+25.50...+0.20%.

04:15PM ET

[BRIEFING.COM] Apparently, a trade war started on Friday -- or so it was said -- yet the stock market acted as if there was a daisy stuck in the barrel of every trade threat. For the second day in a row, the stock market ignored the trade conflict between the U.S. and China (and other countries for that matter) and rallied around a pleasing employment report for June.

It was clear to see in the futures market this morning how the employment report was the inflection point for a shift in trading sentiment. Prior to its release at 8:30 a.m. ET, the S&P futures were down as many as seven points and signalling a modestly lower start for the broader market.

Following the release, they turned positive, and although the open to today's session was a bit tentative, the bulls soon took command of today's tape, ceding some ground only in a profit-taking retreat in the last 30 minutes of trading.

The catalyst for the upside bias was the recognition that the June employment report had a familiar Goldilocks hue to it. Specifically, it featured solid nonfarm payrolls growth (+213,000) and a subdued 2.7% year-over-year gain in average hourly earnings that kept inflation worries, and aggressive rate-hike worries, at bay.

The stock market wasn't the only beneficiary of that fairy-tale theme. The Treasury market also enjoyed the not-too-hot-not-too-cold narrative.

The 2-yr note yield, which is more sensitive to changes in the fed funds rate, fell three basis points to 2.53% while the 10-yr note yield, which is more sensitive to inflation, slipped one basis point to 2.83%.

Within the stock market, every sector was a winner.

Gains ranged from 0.3% (consumer staples) to 1.4% (health care). The latter was helped by a huge gain in Biogen (BIIB 357.48, +58.67, +19.6%), which surged after announcing encouraging, and surprising, Phase II trial results for its Alzheimer's drug.

A 1.2% increase in the information technology sector, which flowed from the outperformance of Apple (AAPL 187.97, +2.57, +1.4%), Facebook (FB 203.23, +4.78, +2.4%), Alphabet (GOOG 1140.17, +15.90, +1.4%), and Microsoft (MSFT 101.16, +1.40, +1.4%), solidified the upside bias and drove the outperformance of the Nasdaq Composite (+1.3%).

Trade matters were talked about widely. The U.S. and China both pressed ahead with tariffs on $34 billion worth of imported goods from each country, which was not a surprise, and President Trump suggested it's possible tariffs on more than $500 billion of Chinese goods could be levied over time if necessary.

The latter was a surprise, but judging by the stock market's performance, it was not unnerved by the remark.

Taking a closer look at today's economic data:

June nonfarm payrolls increased by 213,000 (Briefing.com consensus 195,000). Over the past three months, job gains have averaged 211,000 per month.
June private sector payrolls increased by 202,000 (Briefing.com consensus 192,000).
June unemployment rate was 4.0% (Briefing.com consensus 3.8%) versus 3.8% in May
June average hourly earnings were up 0.2% (Briefing.com consensus +0.3%), after increasing 0.3% in May. Over the last 12 months, average hourly earnings have risen 2.7%, versus 2.7% for the 12 months ending in May.
The average workweek in June was 34.5 hours (Briefing.com consensus 34.5) versus 34.5 hours in May June manufacturing workweek increased 0.1 hours to 40.9 hours Factory overtime increased 0.1 hours to 3.5 hours
The labor force participation rate was 62.9% in June, versus 62.7% in May
The key takeaway is that the data in aggregate were strong enough to excite the masses about the economic expansion continuing, but not so strong as to ignite any mass hysteria about inflation taking off and the Federal Reserve needing to clamp down fast and hard to contain it.
The trade deficit narrowed to $43.1 billion in May (Briefing.com consensus -$43.6 billion) from $46.1 billion in April, with exports increasing $4.1 billion more than April exports and imports increasing $1.1 billion more than April imports.
The key takeaway from the report is that net exports will be accounted for a positive component in Q2 GDP forecasts, as the second quarter average real trade deficit is 7.4% less than the first quarter average.

Monday's economic calendar will feature the Consumer Credit report (Briefing.com consensus $12.4 billion) for May.

Nasdaq Composite +11.4% YTD
Russell 2000 +10.3% YTD
S&P 500 +3.2% YTD
Dow Jones Industrial Average -1.1% YTD

Dow: +99.74… | Nasdaq: +101.96… | S&P: +23.21…
NASDAQ Adv/Dec 2032/858. …NYSE Adv/Dec 2184/781.

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Best Regards,
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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