TheStrategyLab.com Price Action Trading Support Forum

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
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
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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)
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Twitter @ http://twitter.com/wrbtrader (24/7)

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_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 @ $0.00 dollars

Russell 2000 Emini RTY Futures: 1 tick or 0.10 = $5.00 dollars and there's more contract information @ CMEGroup (formerly as TF @ The ICE)
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=174&t=2715

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 for anyone to do a real-time review (you must be a member of the chat room for a real-time review). Although the trades and price action analysis are posted by me and other users of WRB Analysis in real-time...this is not a signal calling chat room nor is this a live trading room that has a head trader telling you what to do. 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.


##TheStrategyLab Chat Room is free. The free chat room is not a signal calling trading room nor is it a live trading room with a head trader even though members of the chat room are posting their trades & market analysis in real-time. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of TheStrategyLab free chat room is for you to use as your trade journal so that you can use as valuable feedback about your own trading and for members to help each other...as in more eyes on the market. In addition, we highly recommend that you use the free chat room with a professional trade journal software like tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because they can provide you with the quantitative statistical analysis of your trading. You can then download your results and post them in your private thread at the forum.

Also, you can use TheStrategyLab free chat room to ask real-time WRB Analysis questions. Yet, please do not post your quantitative statistical analysis, brokerage statements in the free chat room. Instead, its highly recommended that you only post that particular information in your private thread for security reasons. Yet, if you want to post that type of information at another website, blog or chat room...that's your choice.

TheStrategyLab free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages, many different mobile apps, many different types of social media software can be used to log in along with IRC being easier to moderate via script codes when trouble makers, spammers and trolls show up. I'm the moderator of the free chat room via the user name wrbtrader. Thus, I keep the peace between members without hesitation in removing problematic traders so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled or harassed.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell nor do we allow the free chat room to be used for mentoring because we do not offer a mentoring service. The purpose of TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. If you join the free chat room and then you decide to not post any WRB Analysis about the price action or you decide to not post your trades or you decide to be silent (lurk without saying a word about today's markets)...you're not using the free chat room properly to help improve your trading.

In fact, we do not want silent (lurkers) traders to join the free chat room unless they are actively posting at the forum about their trading after the markets close. Access instructions for the free chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164


Also, posted below for you to review are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

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

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).

Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=335&t=3584 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.


click on the above image to view today's price action of key markets

The Market at 04:20PM ET
Dow: +56.87… | Nasdaq: +35.00… | S&P: +8.49…
NASDAQ Vol: 1.79 bln… Adv: 1178… Dec: 1536…
NYSE Vol: 782.5 mln… Adv: 1594… Dec: 1340…

Moving the Market

Top-weighted technology sector outperforms; Apple (AAPL) shows particular strength

Energy shares rally amid an increase in the price of crude oil

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

04:20PM ET

[BRIEFING.COM] Equities quietly climbed to new all-time highs on Monday, with technology and energy shares pacing the advance.

The Dow and the S&P 500 added 0.2% and 0.3%, respectively, to finish at new record highs for the second session in a row. The tech-heavy Nasdaq did not rewrite its record mark, but it did outpace its peers with a gain of 0.5%. Conversely, the small-cap Russell 2000 underperformed, losing 0.1%.

Headlines were few and far between on Monday following a quiet weekend and ahead of a handful of central bank policy meetings. The Fed is expected to raise the fed funds target range by 25 basis points on Wednesday, while the European Central Bank and the Bank of Japan, both of which meet on Thursday, are expected to leave their key policy rates unchanged.

Tax reform remained on investors' minds, even though there weren't any new developments of note. Republicans hope to send a finalized bill to the White House before December 22.

The top-weighted technology sector, which comprises nearly a quarter of the broader market, was among the top-performing groups on Monday, settling with a gain of 0.8%. Apple (AAPL 172.67, +3.30) and Microsoft (MSFT 85.23, +1.07) were big contributors, adding 2.0% and 1.3%, respectively.

Energy shares also outperformed, underpinned by an increase in the price of crude oil; West Texas Intermediate crude futures climbed 1.1% to $57.98 per barrel. The energy sector jumped 0.7%, with Dow components Chevron (CVX 120.42, +0.50) and Exxon Mobil (XOM 83.03, +0.37) adding 0.4% and 0.5%, respectively.

It's also worth pointing out that telecoms rallied on Monday, thanks in large part to CenturyLink (CTL 15.87, +1.20), which jumped 8.2% after numerous insiders, including CEO Glen Post, bought a total of 188,500 shares last week.

On the downside, the financials and industrials sectors finished at the bottom of the sector standings, losing 0.2% apiece. Within the financial group, lenders suffered at the hand of another curve-flattening trade in the U.S. Treasury market, which cut the 2yr-10yr spread by two basis points.

The yield on the benchmark 10-yr Treasury note finished flat at 2.39%, while the 2-yr yield climbed two basis points to 1.82%.

Elsewhere, equity indices in the Asia-Pacific region advanced on Monday, with Hong Kong's Hang Seng (+1.1%) leading the charge, while the major European bourses finished mixed. The UK's FTSE showed relative strength, adding 0.8%, while France's CAC and Germany's DAX lost 0.2% apiece.

Also of note, the CBOE launched bitcoin futures trading on Sunday evening. The one-month futures contract was trading at around $18,600 at the stock market's closing bell.

Reviewing Monday's economic data, which was limited to the October Job Openings and Labor Turnover Survey:

The October Job Openings and Labor Turnover Survey showed that job openings decreased to 6.0 million from a revised 6.18 million (from 6.09 million) in September.

On Tuesday, investors will receive two economic reports--the November Producer Price Index (Briefing.com consensus +0.4%) and the November Treasury Budget (Briefing.com consensus -$134.0 billion)--which will be released at 8:30 ET and 14:00 ET, respectively.

Nasdaq Composite +27.7% YTD
Dow Jones Industrial Average +23.4% YTD
S&P 500 +18.8% YTD
Russell 2000 +12.0% YTD

Dow: +56.87… | Nasdaq: +35.00… | S&P: +8.49…
NASDAQ Adv/Dec 1178/1536. …NYSE Adv/Dec 1594/1340.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 1.66% at 84.01
Dollar index is currently down 0.03% at 93.87
Jan WTI Crude is up 1.08% on the day.
Futures settle $0.62 higher to $57.98/barrel.
In other energy, Jan Natural Gas settled up $0.05 at $2.82/MMBtu
On the metals:
Feb Gold lost $1.7 to settle at $1246.7/oz, while Mar silver lost $0.04 to $15.78/oz
Mar Copper gained $0.03 to $3.01/lb
Finally, agriculture:
Mar Corn settled up $0.01 at $3.5/bu.
Jan Soy settled down $0.005 at $9.825/bu.
Mar wheat settled flat at $4.14/bu.

Dow: +23.33… | Nasdaq: +28.59… | S&P: +4.93…
NASDAQ Adv/Dec 1295/1545. …NYSE Adv/Dec 1552/1407.

02:55PM ET

[BRIEFING.COM] The S&P 500 (+0.2%) and the Dow (+0.1%) are both on track for new record closes moving into the final stretch, but the Nasdaq (+0.4%) is currently the top-performing index.

Looking ahead, investors will receive several notable economic report this week, including the November Producer Price Index (Briefing.com consensus +0.4%) on Tuesday, the November Consumer Price Index (Briefing.com consensus +0.4%) on Wednesday, November Retail Sales (Briefing.com consensus +0.3%) on Thursday, and November Capacity Utilization (Briefing.com consensus 77.2%) & Industrial Production (Briefing.com consensus +0.3%) on Friday.

In addition, the Fed will release its latest policy directive, which is widely expected to include a rate hike of 25 basis points, on Wednesday afternoon.

On the earnings front, the most notable companies reporting this week, including Adobe Systems (ADBE 174.05, +0.48), Costco (COST 188.43, +0.36), and Oracle (ORCL 50.32, +0.72), are all scheduled to deliver their results on Thursday afternoon.
Dow: +27.81… | Nasdaq: +28.52… | S&P: +5.56…
NASDAQ Adv/Dec 1330/1525. …NYSE Adv/Dec 1563/1370.

02:30PM ET

[BRIEFING.COM] The major U.S. indices continue trading near their best marks of the day, sporting gains between 0.2% and 0.5%. Conversely, the small-cap Russell 2000 (unch) is struggling to keep above its flat line.

Transports are underperforming today, evidenced by the Dow Jones Transportation Average, which is down 0.3%. FedEx (FDX 237.94, -2.76) and UPS (UPS 118.01, -1.55) are among the weakest DJTA components, showing losses of around 1.2% apiece, while Avis Budget (CAR 41.41, +0.85) is the strongest component, sporting a gain of 2.1%.

Unsurprisingly, the S&P 500's industrial sector, which houses transportation names, is down 0.2%. A loss today would break the sector's current three-session winning streak--a period during which it climbed 1.4%.
Dow: +37.45… | Nasdaq: +31.45… | S&P: +6.41…
NASDAQ Adv/Dec 1344/1524. …NYSE Adv/Dec 1595/1329.

02:00PM ET

[BRIEFING.COM] Equities have been ticking higher in recent action, with the S&P 500 extending its gain to 0.3%.

Six sectors are trading in the green--energy (+0.8%), technology (+0.7%), telecom services (+0.6%), health care (+0.4%), consumer discretionary (+0.1%), and materials (+0.1%)--while five are trading in the red--real estate (-0.1%), utilities (-0.2%), financials (-0.2%), industrials (-0.2%), and consumer staples (-0.2%).

In the bond market, the benchmark 10-yr Treasury note has slipped to its flat line in recent action; the 10-yr yield is unchanged at 2.38%.
Dow: +46.19… | Nasdaq: +34.03… | S&P: +6.65…
NASDAQ Adv/Dec 1374/1486. …NYSE Adv/Dec 1595/1312.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to show modest gains at this time as Wall Street gets a quiet start to the trading week.

A look inside the Dow Jones Industrial Average shows that Apple (AAPL 172.55, +3.18), Walt Disney (DIS 105.94, +1.71), & Merck (MRK 56.44, +0.87) are outperforming. Apple is leading the Dow following some positive mentions in Barron's and after reports that it will acquire recognition app Shazam for roughly $400 mln. Disney is advancing amid further reports that deal talks with 21st Century Fox (FOXA 33.50, +0.20) continue to advance.

Conversely, Home Depot (HD 181.98, -1.43) is the worst-performing Dow component after being downgraded to Hold at Zelman.

Starting out the week in positive territory, the DJIA is now up 0.37% thus far in December.

Elsewhere, at the top of the hour, the Treasury's $20 bln 10-year Treasury Note Reopening drew a high yield of 2.384% on a bid-to-cover of 2.37.
Dow: +34.08… | Nasdaq: +34.90… | S&P: +6.68…
NASDAQ Adv/Dec 1351/1524. …NYSE Adv/Dec 1573/1325.

01:00PM ET

[BRIEFING.COM] Stocks have ticked higher today, looking to settle in record territory for the second session in a row.

The Dow is up 0.1%, the S&P 500 is higher by 0.2%, and the tech-heavy Nasdaq is outperforming with a gain of 0.5%. Small caps are trading roughly in line with the broader market this afternoon, with the Russell 2000 sporting a gain of 0.2%.

Monday's session has been rather uneventful thus far. Eight of eleven sectors are trading within 0.4% of their unchanged marks, with technology (+0.8%), energy (+0.7%), and telecom services (+0.6%) being the three exceptions.

Within the top-weighted technology sector, Apple (AAPL 172.56, +3.19) is among the top performers, sporting a gain of 1.9%. Follow mega cap Microsoft (MSFT 85.06, +0.90) also holds a sizable gain (+1.1%), but chipmakers trade more in line with the broader market; the PHLX Semiconductor Index is higher by 0.7%.

The energy space has benefited from an increase in the price of crude oil, which is attempting to bounce back from last week's 1.8% decline. West Texas Intermediate crude futures are up 0.7% at $57.79 per barrel, which marks their best level in a week.

Meanwhile, the lightly-weighted telecom services group has been underpinned by CenturyLink (CTL 16.01, +1.34), which has jumped 9.2% after numerous insiders, including CEO Glen Post, bought a total of 188,500 shares last week. Today's advance places CTL shares at a one-month high.

On the flip side, the heavily-weighted financial sector (-0.3%) trades near the bottom of the sector standings, with Wells Fargo (WFC 58.81, -0.50) pacing the retreat; WFC shares are down 0.9%. The group has struggled amid a curve-flattening trade within the Treasury market, which has reduced the 2yr-10yr spread by two basis points.

The yield on the benchmark 10-yr Treasury note is down one basis point at 2.37%, while the 2-yr yield is higher by one basis point at 1.81%.

Elsewhere, equity indices in the Asia-Pacific region advanced on Monday, with Hong Kong's Hang Seng (+1.1%) leading the charge, while the major European bourses finished mixed. The UK's FTSE showed relative strength, adding 0.8%, while France's CAC and Germany's DAX lost 0.2% apiece.

Reviewing Monday's economic data, which was limited to the October Job Openings and Labor Turnover Survey:

The October Job Openings and Labor Turnover Survey showed that job openings decreased to 6.0 million from a revised 6.18 million (from 6.09 million) in September.

Dow: +36.02… | Nasdaq: +38.27… | S&P: +6.56…
NASDAQ Adv/Dec 1473/1388. …NYSE Adv/Dec 1632/1275.

12:25PM ET

[BRIEFING.COM] The major U.S. indices hold gains between 0.1% and 0.4%.

Elsewhere, European equities finished Monday's session mixed; the UK's FTSE jumped 0.8%, while Germany's DAX and France's CAC lost 0.2% apiece. UK Prime Minister Theresa May said there is a new sense of optimism surrounding Brexit negotiations after the EU and the UK reached a divorce agreement on Friday. The talks will now turn to future trade relations.

The U.S. dollar has added 0.3% against the British pound (1.3352), but has lost 0.2% and 0.1%, respectively, against the euro (1.1797) and the Japanese yen (113.39). The U.S. Dollar Index is currently down 0.1% at 93.78 after closing Friday at its best level in over two weeks.
Dow: +31.52… | Nasdaq: +30.86… | S&P: +5.14…
NASDAQ Adv/Dec 1548/1339. …NYSE Adv/Dec 1666/1220.

12:00PM ET

[BRIEFING.COM] Equity indices have not changed since the last update.

The heavily-weighted financial sector (-0.4%) is among the weakest sectors today, with Wells Fargo (WFC 58.64, -0.66) leading the retreat; WFC shares are lower by 1.1%. Today's decline follows a solid two-week run for the financial sector, during which it added 6.8%. Progress on the GOP's tax reform bill has fueled the sector's recent rally.

On a related note, a curve-flattening trade in the U.S. Treasury market has worked against the financial sector today, reducing the 2yr-10yr spread by two basis points. The yield on the benchmark 10-yr Treasury note is down one basis point at 2.37%, while the 2-yr yield is up one basis point at 1.81%.
Dow: +24.83… | Nasdaq: +25.54… | S&P: +4.63…
NASDAQ Adv/Dec 1489/1374. …NYSE Adv/Dec 1642/1220.

11:30AM ET

[BRIEFING.COM] The major averages are still trading a step above their flat lines this morning. The Nasdaq is the top performer with a gain of 0.3%.

Retailers are struggling today, evidenced by the 0.3% decrease in the SPDR S&P Retail ETF (XRT 44.78, -0.15). Discount variety stores Dollar General (DG 91.51, -1.86) and Dollar Tree (DLTR 105.81, -2.86) show particular weakness, losing 2.0% and 2.6%, respectively, following reports that the USDA is considering new restrictions related to the use of food stamps.

Despite today's underperformance, the SPDR S&P Retail ETF has had a solid five-week run, underpinned by reports of a positive start to the holiday shopping season. The XRT has climbed 14.8% since hitting a two-month low on November 7 and settled Friday's session at its best mark in nearly a year.
Dow: +27.17… | Nasdaq: +19.03… | S&P: +4.09…
NASDAQ Adv/Dec 1481/1398. …NYSE Adv/Dec 1656/1201.

10:55AM ET

[BRIEFING.COM] Stocks have ticked up slightly since opening today's session flat; the S&P 500 sports a gain of 0.2%.

Most sectors are trading in the green this morning, but gains have been limited for the most part. The energy group (+1.0%) hovers at the top of the sector standings by a comfortable margin, helped by an increase in the price of crude oil; West Texas Intermediate crude futures are up 0.4% at $57.61 per barrel. Within the energy group, Dow components Exxon Mobil (XOM 83.17, +0.51) and Chevron (CVX 120.95, +1.03) show gains of 0.7% and 0.9%, respectively.

Meanwhile, the top-weighted technology group (+0.5%) also outperforms, with its largest component by market cap--Apple (AAPL 172.04, +2.67)--adding 1.5%. Chipmakers are struggling to keep pace with the broader market, however, evidenced by the PHLX Semiconductor Index, which is up just 0.1%.
Dow: +15.72… | Nasdaq: +16.95… | S&P: +4.22…
NASDAQ Adv/Dec 1469/1381. …NYSE Adv/Dec 1673/1134.

10:30AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are up 0.16% at 84.144
Dollar index is currently down 0.21% at 93.7
Jan WTI crude is up 0.37% on the day.
Futures are $0.21 higher to $57.57/barrel.
In other energy, Jan natural gas is up $0.05 at $2.82/MMBtu
Metals:
Feb gold gained $0.6 and trades at $1249/oz, while Mar silver lost $0.05 to $15.77/oz
Mar copper gained 0.01 to $2.99/lb
Finally, agriculture:
Mar corn is down $0.03 at $3.5/bu.
Jan soy is down $0.03 at $9.875/bu.
Mar wheat is down $0.06 at $4.13/bu.

Dow: +8.48… | Nasdaq: +16.89… | S&P: +4.01…
NASDAQ Adv/Dec 1423/1409. …NYSE Adv/Dec 1632/1164.

10:00AM ET

[BRIEFING.COM] Equity indices are trading a tick above their flat lines.

Just in, the October Job Openings and Labor Turnover Survey showed that job openings decreased to 6.0 million from a revised 6.18 million (from 6.09 million) in September.
Dow: +34.94… | Nasdaq: +13.87… | S&P: +3.48…
NASDAQ Adv/Dec 1596/1141. …NYSE Adv/Dec 1640/1091.

09:40AM ET

[BRIEFING.COM] The major U.S. indices are relatively flat in the opening minutes of today's session, with the tech-heavy Nasdaq (+0.2%) showing relative strength.

Sectors are pretty evenly mixed this morning, but gains and losses have been limited; all 11 groups trade within 0.4% of their unchanged marks. The top-weighted technology sector (+0.4%) is among the top performers, while the consumer staples sector (-0.4%) is among the weakest groups.

As a reminder, today's lone economic report--the October Job Openings and Labor Turnover Survey--will be released shortly at 10:00 ET.
Dow: -3.32… | Nasdaq: +20.04… | S&P: +1.09…
NASDAQ Adv/Dec 1697/983. …NYSE Adv/Dec 1485/1117.

09:10AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -0.10.

The U.S. equity market is on course for a flat open this morning as the S&P 500 futures trade one point above fair value.

Reports of an explosion at the Port Authority bus terminal in New York City sent equity futures slightly lower this morning, but they have since returned to their previous levels. Only one person is reported to be injured as a result of the explosion, and that person is in custody.

In the bond market, U.S. Treasuries are slightly higher this morning, sending yields a tick below their flat lines. The yield on the benchmark 10-yr Treasury note is down two basis points at 2.36%, while the 2-yr yield is down one basis point at 1.79%.

Meanwhile, West Texas Intermediate crude futures are up 0.2% at $57.48/bbl, the U.S. Dollar Index is flat at 93.85, gold is up 0.1% at $1,249.40/ozt, and the CBOE Volatility Index (VIX 9.94, +0.36) is higher by 3.7%.

Today's lone economic report--the October Job Openings and Labor Turnover Survey--will be released at 10:00 ET.

08:50AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -0.10.

The S&P 500 futures trade one point above fair value.

Equity indices in the Asia-Pacific region began the week on a mostly higher note. Reports from Japan indicate the country's government will increase its GDP forecast for fiscal 2018 to 2.0% from 1.4%. Separately, Nikkei reported that Japanese companies will receive tax cuts if they raise wages. In New Zealand, Adrian Orr was named the new Governor of the Reserve Bank of New Zealand. Mr. Orr's five-year term will begin on March 27. Under Mr. Orr, the Reserve Bank of New Zealand will adopt a full employment target alongside its current price stability mandate.

In economic data:
China's November CPI 0.0% month-over-month (expected 0.1%; last 0.1%); +1.7% year-over-year (consensus 1.8%; last 1.9%). November PPI +5.8% year-over-year (expected 5.9%; last 6.9%). November New Loans CNY1.12 trillion (expected CNY800 billion; last CNY663.20 billion) and November M2 Money Stock +9.1% year-over-year (consensus 8.9%; last 8.8%). November Outstanding Loan Growth 13.3% year-over-year (consensus 13.0%; last 13.0%)
Japan's Q4 BSI Large Manufacturing Conditions 9.7 (expected 10.1; last 9.4). M2 Money Stock +4.0% year-over-year (expected 4.1%; last 4.1%). Machine Tool Orders 46.9% year-over-year (last 49.8%)
New Zealand's November Electronic Card Retail Sales +1.2% month-over-month (last 0.5%); +4.3% year-over-year (last 1.3%)

---Equity Markets---

Japan's Nikkei gained 0.6%. Konami, Nippon Electric Glass, Kirin Holdings, NGK Insulators, TDK, Sumitomo Mitsui Financial, Alps Electric, Komatsu, and Kikkoman posted gains between 2.1% and 3.8%.
Hong Kong's Hang Seng advanced 1.1%. Financials like Ping An Insurance, HSBC, AIA Group, Wharf Real Estate, BoC Hong Kong, ICBC, and Hang Seng Bank rose between 0.7% and 3.9% while Sands China, Tencent Holdings, and Galaxy Entertainment gained between 2.0% and 3.1%.
China's Shanghai Composite climbed 1.0%. Huayu Automotive Systems, Yangzhou Asiastar Bus, Sanan Optoelectronics, China Meheco, and Hundsun Technologies rose between 5.5% and 8.3%.
India's Sensex added 0.6%. Tech consultants Tata Consultancy and Wipro gained 2.4% and 2.1%, respectively, while Infosys added 0.1%. MahindraMahindra, Lupin, SBI, ITC, and Bharti Airtel advanced between 1.4% and 2.2%.

Major European indices are mixed with the UK's FTSE (+0.5%) showing relative strength. Reports from the UK indicate Michael Gove and Boris Johnson will lobby for a hard Brexit when trade negotiations begin in Brussels. Brexit minister David Davis said the Brexit transition could take up to 21 months. Senior members of German Chancellor Angela Merkel's party have rejected the proposal for United States of Europe that was made by SPD leader Martin Schulz. CDU/CSU and SPD will begin coalition talks on Wednesday.

In economic data:
Italy's October Retail Sales -1.0% month-over-month (expected -0.1%; last 0.8%); -2.1% year-over-year (last 3.1%)

---Equity Markets---

UK's FTSE is higher by 0.5%. Financials and health care names are among the leaders with Shire, GlaxoSmithKline, HSBC, and Standard Chartered showing gains between 0.9% and 3.6%.
France's CAC is down 0.1%. Airbus Group and Safran are both down near 1.5% while consumer names like Accor, Danone, Louis Vuitton, and Pernod Ricard show losses between 0.3% and 0.6%. On the upside, Vivendi and Peugeot hold respective gains of 2.8% and 1.5%.
Germany's DAX is slightly lower. SAP, Lufthansa, Adidas, Volkswagen, and BASF show losses between 0.2% and 0.9% while Daimler, Bayer, Merck, Commerzbank, and Siemens are up between 0.2% and 1.9%.

08:25AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -4.40.

The S&P 500 futures trade one point below fair value.

Looking ahead, investors will receive several notable economic reports this week, including the November Producer Price Index (Briefing.com consensus +0.4%) on Tuesday, the November Consumer Price Index (Briefing.com consensus +0.4%) on Wednesday, November Retail Sales (Briefing.com consensus +0.3%) on Thursday, and November Capacity Utilization (Briefing.com consensus 77.2%) & Industrial Production (Briefing.com consensus +0.3%) on Friday.

In addition, the Fed will release its latest policy directive on Wednesday afternoon. However, the release will likely turn out to be a nonevent as it's widely expected that the Fed will vote to raise the fed funds target range by 25 basis points to 1.25%-1.50%.

07:55AM ET
[BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +1.40.

U.S. equities finished last week on a positive note, with both the S&P 500 and the Dow settling Friday's session at new all-time highs, and are on track to open today's session in the green--although just barely. The S&P 500 futures are currently trading two points, or 0.1%, above fair value.

Elsewhere, equity indices in the Asia-Pacific region advanced on Monday, with Hong Kong's Hang Seng (+1.1%) leading the charge. The major European bourses are mostly flat, but the UK's FTSE (+0.5%) exhibits relative strength as the pound trades lower by 0.2% against the U.S. dollar at 1.3361. The U.S. Dollar Index is down 0.1% at 93.77.

The weekend was relatively quiet overall, but it's worth noting that Bitcoin futures made their debut on the Chicago-based CBOE Global Markets exchange on Sunday evening. Bitcoin has jumped off the charts this year, surging nearly 1,600% year to date. The one-month Bitcoin futures contract is currently up 15.7% at $17,880.

Meanwhile, U.S. Treasuries are rallying this morning, sending yields lower across the curve. The yield on the benchmark 10-yr Treasury note is down three basis points at 2.35%, while the 2-yr yield is lower by two basis points at 1.78%.

On the data front, investors will receive just one economic report today--the October Job Openings and Labor Turnover Survey--which will be released at 10:00 ET.

In U.S. corporate news:

First Solar (FSLR 71.30, +1.28): +1.8% after Robert W. Baird upgraded shares to 'Outperform.'

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mostly higher note. Japan's Nikkei +0.6%, Hong Kong's Hang Seng +1.1%, China's Shanghai Composite +1.0%, India's Sensex +0.6%.
In economic data:
China's November CPI 0.0% month-over-month (expected 0.1%; last 0.1%); +1.7% year-over-year (consensus 1.8%; last 1.9%). November PPI +5.8% year-over-year (expected 5.9%; last 6.9%). November New Loans CNY1.12 trillion (expected CNY800 billion; last CNY663.20 billion) and November M2 Money Stock +9.1% year-over-year (consensus 8.9%; last 8.8%). November Outstanding Loan Growth 13.3% year-over-year (consensus 13.0%; last 13.0%)
Japan's Q4 BSI Large Manufacturing Conditions 9.7 (expected 10.1; last 9.4). M2 Money Stock +4.0% year-over-year (expected 4.1%; last 4.1%). Machine Tool Orders 46.9% year-over-year (last 49.8%)
New Zealand's November Electronic Card Retail Sales +1.2% month-over-month (last 0.5%); +4.3% year-over-year (last 1.3%)
In news:
Reports from Japan indicate the country's government will increase its GDP forecast for fiscal 2018 to 2.0% from 1.4%. Separately, Nikkei reported that Japanese companies will receive tax cuts if they raise wages.
Adrian Orr was named the new Governor of the Reserve Bank of New Zealand. Mr. Orr's five-year term will begin on March 27. Under Mr. Orr, the Reserve Bank of New Zealand will adopt a full employment target alongside its current price stability mandate.

Major European indices are mostly little changed. France's CAC unch, Germany's DAX unch, UK's FTSE +0.5%.
In economic data:
Italy's October Retail Sales -1.0% month-over-month (expected -0.1%; last 0.8%); -2.1% year-over-year (last 3.1%)
In news:
Reports from the UK indicate Michael Gove and Boris Johnson will lobby for a hard Brexit when trade negotiations begin in Brussels. Brexit minister David Davis said the Brexit transition could take up to 21 months.
Senior members of German Chancellor Angela Merkel's party have rejected the proposal for United States of Europe that was made by SPD leader Martin Schulz. CDU/CSU and SPD will begin coalition talks on Wednesday.

06:13AM ET
[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +1.50.

06:13AM ET
[BRIEFING.COM] Nikkei...22,938.73...+127.70...+0.60%. Hang Seng...28,965.29...+325.40...+1.10%.

06:13AM ET
[BRIEFING.COM] FTSE...7,440.93...+47.10...+0.60%. DAX...13,173.29...+19.60...+0.20%.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 1.66% at 84.01
Dollar index is currently up 0% at 93.9
Jan WTI Crude is down 0.03% on the day.
Futures settle $0.02 lower to $57.34/barrel.
In other energy, Jan Natural Gas settled up $0.02 at $2.79/MMBtu
On the metals:
Feb Gold gained $2.1 to settle at $1250.5/oz, while Mar silver gained $0.05 to $15.87/oz
Mar copper settled flat at $2.98/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.53/bu.
Jan Soy settled up $0.0075 at $9.9075/bu.
Mar Wheat settled down $0.01 at $4.18/bu.

10:30AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 84.01
Dollar index is currently flat at 93.9
Jan WTI crude is down 0.03% on the day.
Futures are $0.02 lower to $57.34/barrel.
In other energy, Jan natural gas is up $0.02 at $2.79/MMBtu
Metals:
Feb gold gained $2.1 and trades at $1250.5/oz, while Mar silver gained $0.05 to $15.87/oz
Mar copper remains unchanged at $2.98/lb
Finally, agriculture:
Mar corn is unchanged at $3.53/bu.
Jan soy is up $0.01 at $9.9075/bu.
Mar wheat is down $0.01 at $4.18/bu.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 1.66% at 84.01
Dollar index is currently up 0% at 93.9
Jan WTI Crude is down 0.03% on the day.
Futures settle $0.02 lower to $57.34/barrel.
In other energy, Jan Natural Gas settled up $0.02 at $2.79/MMBtu
On the metals:
Feb Gold gained $2.1 to settle at $1250.5/oz, while Mar silver gained $0.05 to $15.87/oz
Mar copper settled flat at $2.98/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.53/bu.
Jan Soy settled up $0.0075 at $9.9075/bu.
Mar Wheat settled down $0.01 at $4.18/bu.

10:30AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 84.01
Dollar index is currently flat at 93.9
Jan WTI crude is down 0.03% on the day.
Futures are $0.02 lower to $57.34/barrel.
In other energy, Jan natural gas is up $0.02 at $2.79/MMBtu
Metals:
Feb gold gained $2.1 and trades at $1250.5/oz, while Mar silver gained $0.05 to $15.87/oz
Mar copper remains unchanged at $2.98/lb
Finally, agriculture:
Mar corn is unchanged at $3.53/bu.
Jan soy is up $0.01 at $9.9075/bu.
Mar wheat is down $0.01 at $4.18/bu.

04:30PM ET

[BRIEFING.COM] U.S. stocks finished the week on a positive note, helped by a favorable Employment Situation Report for November.

Both the S&P 500 and the Dow settled at new all-time highs, adding 0.6% and 0.5%, respectively. The Nasdaq finished slightly behind its peers, adding 0.4%, while the small-cap Russell 2000 showed relative weakness, finishing with a gain of just 0.1%. For the week, the S&P 500 advanced 0.4%.

The Employment Situation Report for November showed strong job growth and subdued wage growth, keeping in line with recent trends. Nonfarm payrolls increased more than expected (228K actual vs 190K Briefing.com consensus), average hourly earnings rose less than expected (+0.2% actual vs +0.3% Briefing.com consensus), and the unemployment rate stayed at 4.1%.

In short, the report isn't likely to keep the Fed from raising rates at next week's meeting, but it could give the Fed a cause for pause going into 2018.

A positive vibe from overseas equity markets also contributed to the upbeat sentiment on Wall Street. Stocks in the Asia-Pacific region finished Friday broadly higher as investors rallied around China's better-than-expected November trade surplus (+$40.21 billion actual vs +$35.00 billion expected). Japan's Nikkei added 1.4%, finishing flat for the week.

Elsewhere, the Euro Stoxx 50 settled with a gain of 0.6% after the UK and the European Union reached an agreement on Brexit divorce terms. Britain will pay as much as GBP39 billion to complete the separation and there will be no hard border between Ireland and Northern Ireland. Talks will now turn to future trade relations.

In addition, Congress' decision to pass a two-week stopgap spending bill, which delayed an impending government shutdown, helped underpin Friday's advance.

The S&P 500's telecom services sector (+1.5%) was the top-performing group, followed from a distance by the heavily-weighted health care space (+1.1%). Within the health care group, biotech names showed particular strength, sending the iShares Nasdaq Biotechnology ETF (IBB 106.07, +2.02) higher by 1.9%.

Alexion Pharmaceuticals (ALXN 114.46, +7.68) paced the biotech rally, jumping 7.2%, after the New York Times reported that activist hedge fund Elliot Management has urged the biotech company to do more to lift its stock price. Celgene (CELG 106.09, +3.36) also outperformed, adding 3.3%, after Atlantic Equities upgraded its shares to 'Overweight.'

In total, ten of eleven sectors finished Friday's session in positive territory, with the lightly-weighted materials space (unch) being the lone laggard.

Outside the equity market, U.S. Treasuries finished mostly flat, with the benchmark 10-yr yield closing unchanged at 2.38%, while the U.S. Dollar Index ticked up 0.1% to 93.88. West Texas Intermediate crude futures jumped 1.1% to $57.30 per barrel, but still finished the week lower by 1.8%.

Reviewing Friday's economic data, which included the Employment Situation Report for November, the preliminary reading of the University of Michigan Consumer Sentiment Index for December, and October Wholesale Inventories:

Employment Situation Report
November nonfarm payrolls increased by 228,000 while the Briefing.com consensus expected an increase of 190,000. The prior month's increase was revised to 244,000 from 261,000. Nonfarm private payrolls rose by 221,000 while the Briefing.com consensus expected an increase of 170,000. The previous month's increase was revised to 247,000 from 252,000.
The unemployment rate stayed at 4.1% (Briefing.com consensus 4.1%). Average hourly earnings increased by 0.2% (Briefing.com consensus +0.3%), while the previous month's reading was revised to -0.1% from 0.0%. The average workweek was reported at 34.5 (Briefing.com consensus 34.4). The previous month's reading was left unrevised at 34.4.
The key takeaway from the report is that wage growth remains subdued. That isn't likely to keep the Fed from raising rates at this month's meeting, yet it could give the Fed a data-based reason to move more slowly on the next rate hike in 2018.
University of Michigan Consumer Sentiment:
The preliminary reading of the University of Michigan Consumer Sentiment Index for December declined to 96.8 (Briefing.com consensus 98.8) from 98.5 in November.
The key takeaway from the report is that consumers continue to remain upbeat about current economic conditions, with higher income expectations feeding their optimism. As an aside, there was also a jump in consumers' inflation expectations for 2018.
Wholesale Inventories
October Wholesale Inventories decreased 0.5% (Briefing.com consensus -0.4%). The September reading was revised to +0.1% from +0.3%.
The key takeaway from the report is that the sales increase outpaced the inventory increase by a sizable margin, which is a step in the right direction for wholesalers trying to regain some pricing power.

On Monday, investors will receive just one economic report--the October Job Openings and Labor Turnover Survey--which will be released at 10:00 ET.

Nasdaq Composite +27.1% YTD
Dow Jones Industrial Average +23.1% YTD
S&P 500 +18.4% YTD
Russell 2000 +12.1% YTD

Week In Review: Waiting on Washington

Equities ticked higher this week as investors geared up for an end-of-year showdown in Washington.

The S&P 500 and the Dow Jones Industrial Average both advanced 0.4%, closing Friday's session at fresh record highs, while the tech-heavy Nasdaq underperformed, losing 0.1%. Small caps struggled this week, pushing the Russell 2000 lower by 1.0%.

Investor sentiment was upbeat at Monday's opening bell after the U.S. Senate passed its version of a tax reform bill over the weekend, allowing the GOP to enter the final stretch of its quest to rewrite the tax code. House and Senate Republicans are hoping to reach an agreement on a final bill and pass said bill in their respective chambers before December 22.

In addition to the GOP's self-imposed tax reform deadline, December 22 is the new end date for government funding after Congress agreed to a two-week stopgap spending bill on Thursday evening. The risk of a government shutdown was on investors' minds throughout the week, helping to keep the bulls in check.

With the legislative agenda for the rest of the year virtually set, investors appeared to be in wait-and-see mode for much of the week, taking some profits and readjusting their portfolios. However, the Employment Situation Report for November, which was released on Friday, helped equities finish the week on a positive note.

The Employment Situation Report for November showed a larger-than-expected increase in nonfarm payrolls (228K actual vs 190K Briefing.com consensus) and a smaller-than-expected rise in average hourly earnings (+0.2% actual vs +0.3% Briefing.com consensus).

In other words, job growth has remained strong while wages--which are positively correlated with inflation--have remained relatively subdued. This combination has proven to be highly beneficial for the stock market as it points to steady economic growth but leaves out the inflationary concerns that typically accompany said growth.

The S&P 500's eleven sectors finished the week mixed, with seven settling in the green and four closing in the red. The financial sector was the top performer, adding 1.5%, followed closely by the industrial group (+1.4%). Within the industrial space, transports showed particular strength, pushing the Dow Jones Transportation Average higher by 2.1%.

On the downside, the energy sector lost 0.7% amid a decrease in the price of crude oil; West Texas Intermediate crude futures declined 1.8% to $57.30 per barrel. The utilities space (-1.0%) also struggled as energy providers like Edison (EIX) faced outages due to wild fires in Southern California; EIX shares lost 11.1% for the week.

Corporate news was pretty light this week, but it's worth noting that CVS Health (CVS) acquired health insurer Aetna (AET) for $207 per share in cash and stock. That price represents a premium of about 29% to where Aetna shares were trading before the Wall Street Journal reported that the companies were in talks in October.

Looking ahead, the Fed is widely expected to announce a rate hike of 25 basis points next week, which would bring the fed funds target range to 1.25%-1.50%.
Dow: +117.68… | Nasdaq: +27.24… | S&P: +14.52…
NASDAQ Adv/Dec 1400/1205. …NYSE Adv/Dec 1766/1150.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. Also, thank you for the review of TheStrategyLab performance record...hopefully the links and data will be useful for you.

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M.A. Perry
Online user name wrbtrader (more info about me) @ http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading
Trader and Founder of WRB Analysis (wide range body/bar analysis)
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