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
TheStrategyLab Reviews: 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)
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Twitter @ http://twitter.com/wrbtrader (24/7)


click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $375.00 dollars or +7.50 points, Light Crude Oil CL ($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 @ $375.00 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=2717

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 04:30PM ET
Dow: +80.63… | Nasdaq: +13.48… | S&P: -1.26…
NASDAQ Vol: 1.89 bln… Adv: 1453… Dec: 945…
NYSE Vol: 875.3 mln… Adv: 1658… Dec: 1285…

Moving the Market

Fed hikes rates by 25 basis points, as expected; still calls for three hikes in 2018

House and Senate Republicans agree on final version of a tax reform bill

Smaller-than-expected increase in November core CPI (+0.1% actual vs +0.2% Briefing.com consensus) tempers future rate-hike concerns

Sector Watch
Strong: Industrials, Materials, Health Care, Consumer Staples, Utilities
Weak: Financials

04:30PM ET

[BRIEFING.COM] U.S. equities finished mostly higher on Wednesday, but financial shares struggled following the Fed's latest policy directive.

The Dow Jones Industrial Average settled at a new record high for the fourth session in a row, adding 0.3%. The Nasdaq Composite also finished higher, adding 0.2%, but the S&P 500 settled with a slim loss of 0.1%. The benchmark index held a modest gain for much of the day, but fell sharply in the final minutes of trading.

Small caps showed relative strength, pushing the Russell 2000 higher by 0.6%.

As expected, the Federal Open Market Committee raised the fed funds target range by 25 basis points to 1.25%-1.50% on Wednesday, marking the third rate hike of 2017. Chicago Fed President Evans and Minneapolis Fed President Kashkari--the FOMC's two most dovish members--dissented, saying they preferred to keep the target range unchanged.

The Fed's so-called "dot plot" revealed that the median FOMC member still anticipates three rate hikes in 2018 and two in 2019. Both figures were unchanged from the projections released in September, even though the central bank acknowledged that overall inflation and core inflation have declined this year and are running below 2.0%.

U.S. Treasuries rallied in a curve-flattening trade, underpinned by both the Fed's policy statement and a smaller-than-expected increase in the core Consumer Price Index for November (+0.1% actual vs +0.2% Briefing.com consensus). The yield on the benchmark 10-yr Treasury note tumbled five basis points to 2.35%, while the 2-yr yield slipped two basis points to 1.79%.

The flattening of the yield curve weighed heavily on the financial sector, which is second only to technology in terms of weight, representing nearly 15.0% of the broader market. The financial space dropped 1.3%, mitigating gains registered in most other areas.

In total, seven of eleven sectors finished in the green, but gains were limited; no group advanced more than 0.5%.

On the political front, House and Senate Republicans reached an agreement of the final version of a tax reform bill on Wednesday, putting President Trump's first major legislative victory within reach. The full details of the bill will be released later in the week and votes are scheduled to take place in both chambers sometime next week.

Reports indicate that the bill would cut the corporate tax rate to 21%--which is slightly higher than the 20% rate that the GOP was originally shooting for, but still significantly below the current rate of 35%. The new corporate tax rate would take effect in 2018, which is faster than the 2019 start date in the Senate's version of the bill.

It's also worth pointing out that Democrat Doug Jones defeated Republican Roy Moore in a special election for Alabama's open U.S. Senate seat. Mr. Jones' victory will reduce the GOP's majority in the Senate from 52-48 to 51-49, but it is not expected to impact tax reform as Mr. Jones will not take the oath of office for a few weeks.

In corporate news, Caterpillar (CAT 148.57, +5.15) jumped 3.6%, settling at a new record high, after reporting a year-over-year increase of 26% in November machine sales. Target (TGT 62.67, +1.65) also advanced, adding 2.7%, after announcing that it will acquire Shipt, an internet-based grocery delivery service, for $550 million in cash.

Conversely, 21st Century Fox (FOXA 32.75, -1.35) lost 4.0% following reports that a deal with Walt Disney (DIS 107.61, +0.18) could be announced as soon as Thursday. As a reminder, Disney is reported to be interested in acquiring around $60 billion of assets from 21st Century Fox.

Elsewhere, equities had a weak showing in Europe, with the Euro Stoxx 50 moving lower by 0.5%, while the major stock indices in the Asia-Pacific region finished Wednesday mixed. Japan's Nikkei lost 0.5%, while Hong Kong's Hang Seng and China's Shanghai Composite jumped 1.5% and 0.7%, respectively.

Reviewing Wednesday's economic data, which included the November Consumer Price Index and the weekly MBA Mortgage Applications Index:

Total CPI increased 0.4% (Briefing.com consensus +0.4%) in November while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, total CPI and core CPI are up 2.2% and 1.7%, respectively.
The key takeaway from the report is that it didn't signal any alarming consumer inflation pressures, which will leave market participants predisposed to think that the Federal Reserve is apt to continue following a gradual tightening path.
The weekly MBA Mortgage Applications Index decreased 2.3% to follow last week's 4.7% increase.

On Friday, investors will receive November Retail Sales (Briefing.com consensus +0.3%), weekly Initial Claims (Briefing.com consensus 239K), and November Export/Import Prices at 8:30 ET, followed by October Business Inventories (Briefing.com consensus -0.1%) at 10:00 ET.

Nasdaq Composite +27.7% YTD
Dow Jones Industrial Average +24.4% YTD
S&P 500 +18.9% YTD
Russell 2000 +12.3% YTD

Dow: +80.63… | Nasdaq: +13.48… | S&P: -1.26…

NASDAQ Adv/Dec 1453/945. …NYSE Adv/Dec 1658/1285.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 2.34% at 83.43
Dollar index is currently down 0.68% at 93.46
Jan WTI Crude is down 1.02% on the day.
Crude oil inventories had a draw of 5.1 mln barrels
Futures settle $0.58 lower to $56.56/barrel.
In other energy, Jan Natural Gas settled up $0.03 at $2.71/MMBtu
On the metals:
Feb Gold gained $7.4 to settle at $1249.1/oz, while Mar silver gained $0.21 to $15.88/oz
Mar Copper gained $0.03 to $3.05/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.49/bu.
Jan Soy settled up $0.0025 at $9.7925/bu.
Mar Wheat settled down $0.01 at $4.16/bu.

Dow: +127.78… | Nasdaq: +27.5… | S&P: +4.71…

NASDAQ Adv/Dec 1573/1001. …NYSE Adv/Dec 1690/1223.

03:05PM ET

[BRIEFING.COM] The S&P 500 (+0.3%) and the Dow (+0.6%) are both on track to finish at record highs for the fourth session in a row.

Looking ahead, investors will receive a big batch of economic data tomorrow morning, including November Retail Sales (Briefing.com consensus +0.3%), weekly Initial Claims (Briefing.com consensus 239K), November Export/Import Prices, and October Business Inventories (Briefing.com consensus -0.1%).

The first three reports will be released at 8:30 ET, while October Business Inventories will cross the wires at 10:00 ET.

On the earnings front, Adobe Systems (ADBE 176.90, +4.37), Costco (COST 188.20, -0.10), and Oracle (ORCL 50.15, -0.23) will report on Thursday afternoon.

Dow: +133.62… | Nasdaq: +27.83… | S&P: +6.18…

NASDAQ Adv/Dec 1673/945. …NYSE Adv/Dec 1715/1222.

02:30PM ET

[BRIEFING.COM] The major U.S. indices hold gains between 0.2% and 0.5%.

Eight sectors are trading in the green this afternoon--consumer staples (+0.6%), industrials (+0.6%), utilities (+0.5%), health care (+0.4%), materials (+0.3%), technology (+0.2%), real estate (+0.2%), and consumer discretionary (+0.2%)--while three are trading in the red--energy (-0.1%), telecom services (-0.2%), and financials (-0.6%).

U.S. Treasuries are mostly higher, pushing yields into the red; the benchmark 10-yr yield is down one basis point at 2.37%.

Dow: +133.39… | Nasdaq: +22.54… | S&P: +5.12…

NASDAQ Adv/Dec 1699/956. …NYSE Adv/Dec 1684/1248.

02:05PM ET

[BRIEFING.COM] As expected, the FOMC voted to raise the fed funds target range by 25 basis points to 1.25%-1.50%.

Equities have ticked up slightly following the release, with the S&P 500 extending its gain to 0.2% from 0.1%.

Meanwhile, the 2-yr yield has decreased to 1.81% from 1.82%, the 10-yr yield has slipped to 2.37% from 2.38%, and the U.S. Dollar Index has remained lower by 0.3% at 93.76.

Dow: +116.44… | Nasdaq: +24.21… | S&P: +5.00…

NASDAQ Adv/Dec 1740/937. …NYSE Adv/Dec 1693/1220.

01:30PM ET

[BRIEFING.COM] The major U.S. indices trade higher this afternoon, with the Dow Jones Industrial Average (+0.4%) showing relative strength.

A look inside the Dow shows that Caterpillar (CAT 148.18, +4.75), Nike (NKE 63.32, +1.15), Procter & Gamble (PG 91.00, +1.15), and Coca-Cola (KO 45.82, +0.53) are outperforming. CAT shares have jumped 3.3% after the industrial giant reported a 26% year-over-year increase in November machine sales worldwide.

Conversely, IBM (IBM 154.81, -1.92) is the worst-performing Dow component, losing 1.2%.

Dow: +104.81… | Nasdaq: +16.10… | S&P: +2.81…

NASDAQ Adv/Dec 1700/1037. …NYSE Adv/Dec 1623/1277.

01:00PM ET

[BRIEFING.COM] U.S. equities have had a positive showing today as investors optimistically await the Fed's latest policy directive, which will be released at 14:00 ET.

The S&P 500 is up 0.2%, the Nasdaq is higher by 0.3%, and the Dow Jones Industrial Average outperforms with a gain of 0.6%. Small caps are pacing today's advance, with the small-cap Russell 2000 sporting a gain of 0.7%. Both the S&P 500 and the Dow are on track to finish at new all-time highs for the fourth session in a row.

The Fed is expected to raise the fed funds target range by 25 basis points to 1.25%-1.50%, which would mark the third rate hike of 2017. The market will be more focused on the central bank's interest rate projections, which will be revealed via the so-called "dot plot," and its forecast for economic growth.

In addition, Fed Chair Janet Yellen will give a press conference 30 minutes after the release of the Fed's policy statement.

In Washington, there have been reports that House and Senate Republicans have reached an agreement on a tax reform bill, but Senator Bob Corker (R-TN) has refuted said reports, saying that he is still undecided. The GOP is hoping to wrap up tax reform by December 22, especially after last night's vote in Alabama.

Democrat Doug Jones defeated Republican Roy Moore in a special election for a U.S. Senate seat. Mr. Jones' victory will reduce the GOP's already slim majority in the Senate from 52-48 to 51-49, but it is not expected to impact tax reform--as long as the GOP passes its bill before the year's end--as Mr. Jones will not take office for a few weeks.

Most sectors are trading in the green this afternoon, but gains have been limited for the most part. The industrial sector is the top-performing group, adding 0.7%, with Caterpillar (CAT 148.03, +4.61) setting the pace. CAT shares are up 3.2%, hovering at a new record high, after the industrial giant reported a 26% increase in November machine sales worldwide.

In other corporate news, Target (TGT 62.03, +1.01) is up 1.7% after announcing that it will acquire Shipt, an internet-based grocery delivery service, for a price of $550 million in cash. Conversely, 21st Century Fox (FOXA 32.80, -1.30) is down 3.8% after CNBC reported that a deal with Walt Disney (DIS 107.44, +0.02) could be announced on Thursday.

As a reminder, Disney is reported to be interested in acquiring around $60 billion of assets from 21st Century Fox.

In the bond market, U.S. Treasuries are mixed, with the benchmark 10-yr yield slipping one basis point to 2.39% and the 2-yr yield climbing one basis point to 1.82%. The curve-flattening trade has weighed on the heavily-weighted financial sector, which is down 0.3%.

Elsewhere, equities had a down day in Europe, with the Euro Stoxx 50 moving lower by 0.5%, while the major stock indices in the Asia-Pacific region finished Wednesday mixed. Japan's Nikkei lost 0.5%, while Hong Kong's Hang Seng and China's Shanghai Composite jumped 1.5% and 0.7%, respectively.

Reviewing Wednesday's economic data, which included the November Consumer Price Index:

Total CPI increased 0.4% (Briefing.com consensus +0.4%) in November while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, total CPI and core CPI are up 2.2% and 1.7%, respectively.
The key takeaway from the report is that it didn't signal any alarming consumer inflation pressures, which will leave market participants predisposed to think that the Federal Reserve is apt to continue following a gradual tightening path.

Dow: +114.05… | Nasdaq: +18.80… | S&P: +3.22…

NASDAQ Adv/Dec 1772/991. …NYSE Adv/Dec 1654/1235.

12:25PM ET

[BRIEFING.COM] Stocks have slipped in recent action, bringing the S&P 500 (+0.2%) to its lowest mark of the afternoon.

In Washington, recent reports indicate that House and Senate Republicans have reached an agreement on a tax reform bill, which they are hoping to pass and send to the White House for President Trump's signature by next week.

Elsewhere, equities had a down day in Europe, with the Euro Stoxx 50 moving lower by 0.5%, while the major stock indices in the Asia-Pacific region finished Wednesday mixed. Japan's Nikkei lost 0.5%, while Hong Kong's Hang Seng and China's Shanghai Composite jumped 1.5% and 0.7%, respectively.

The U.S. Dollar Index is down 0.2% at 93.86.

Dow: +138.05… | Nasdaq: +20.33… | S&P: +4.41…

NASDAQ Adv/Dec 1850/913. …NYSE Adv/Dec 1730/1145.

11:55AM ET

[BRIEFING.COM] Equity indices are hovering at their session highs moving into the afternoon. The Dow is the strongest index, sporting a gain of 0.7%.

The industrial sector is pacing today's advance with a gain of 0.7%. Within the group, Caterpillar (CAT 147.87, +4.45) is exhibiting particular strength, jumping to a fresh all-time high, after reporting its retail sales figures for the month of November, which showed a 26% year-over-year increase in worldwide machine sales. CAT shares are up 3.2%.

No other advancing group holds a gain of more than 0.4%.

On the downside, the lightly-weighted telecom services sector is today's weakest space, trimming its weekly gain to 3.2%. The group is down 0.8%, with wireless heavyweights AT&T (T 37.70, -0.41) and Verizon (VZ 52.71, -0.48) showing losses of 1.1% and 0.9%, respectively.

Dow: +160.11… | Nasdaq: +30.49… | S&P: +7.72…

NASDAQ Adv/Dec 1937/827. …NYSE Adv/Dec 1844/1044.

11:25AM ET

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

Shares of Target (TGT 61.90, +0.87) have moved sharply higher, extending their gain to 1.8% from 0.9%, after the big box retailer announced that it will acquire Shipt, an internet-based grocery delivery service, for a price of $550 million in cash. Target expects to offer same-day delivery at the majority of its stores before the 2018 holiday season.

Retailers are outperforming in general, evidenced by the 0.6% increase in the SPDR S&P Retail ETF (XRT 44.44, +0.25). A win today would mark the first of the week for the XRT, which has cooled off after going on a one-month tear amid reports of a good start to the holiday shopping season; the XRT added 15.2% from November 8 to December 8.

Dow: +129.35… | Nasdaq: +30.40… | S&P: +6.96…

NASDAQ Adv/Dec 1852/912. …NYSE Adv/Dec 1686/1147.

10:55AM ET

[BRIEFING.COM] The major U.S. indices are trading a tick above their opening levels this morning; the S&P 500 is up 0.3%.

Nine of eleven sectors are in the green--utilities (+0.6%), industrials (+0.5%), consumer staples (+0.5%), technology (+0.5%), health care (+0.4%), materials (+0.3%), consumer discretionary (+0.1%), real estate (+0.1%), and energy (unch)--while two are in the red--financials (-0.2%) and telecom services (-0.7%).

In corporate news, CNBC reported that 21st Century Fox (FOXA 32.87, -1.24) and Walt Disney (DIS 107.59, +0.16) will likely announce a deal as early as Thursday. Disney is interested in acquiring around $60 billion of assets from 21st Century Fox. FOXA shares are down 3.5%, while DIS shares are up 0.1%.

Also of note, the EIA reported a draw of 5.1 million barrels in U.S. crude stockpiles for the week ended December 8. West Texas Intermediate crude futures were up 0.2% ahead of the release and now trade flat at a price of $57.11 per barrel.

Dow: +104.66… | Nasdaq: +27.98… | S&P: +6.35…

NASDAQ Adv/Dec 1880/895. …NYSE Adv/Dec 1742/1068.

10:30AM ET

[BRIEFING.COM] Commodities begin the day flat :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently unchanged 0% at 83.43
Dollar index is currently down 0.2% at 93.91
Jan WTI crude is up 0.12% on the day.
EIA inventory data showed a draw of 5.1 mln barrels
Futures are $0.07 higher to $57.21/barrel.
In other energy, Jan natural gas is up $0.03 at $2.71/MMBtu
Metals:
Feb gold gained $5.1 and trades at $1246.8/oz, while Mar silver gained $0.08 to $15.75/oz
Mar copper gained 0.03 to $3.05/lb
Finally, agriculture:
Mar corn is up $0.02 at $3.5/bu.
Jan soy is up $0.01 at $9.765/bu.
Mar wheat is up $0.05 at $4.16/bu.

Dow: +93.48… | Nasdaq: +23.79… | S&P: +6.25…

NASDAQ Adv/Dec 1890/864. …NYSE Adv/Dec 1792/1009.

09:55AM ET

[BRIEFING.COM] The Dow Jones Industrial Average (+0.2%) is up again today and on course for its fourth consecutive record close.

Within the Dow, Caterpillar (CAT 146.01, +2.59) is the top performer, adding 1.8%, after reporting November retail sales, which showed a 26% year-over-year increase in total machine revenue--up from a 19% increase in October. On the downside, American Express (AXP 98.46 -0.91) is the weakest Dow component, showing a loss of 0.9%.

Today's modest advance extends the industrial average's week-to-date gain to 0.9%.

Dow: +61.94… | Nasdaq: +33.40… | S&P: +5.80…

NASDAQ Adv/Dec 1894/774. …NYSE Adv/Dec 1777/903.

09:45AM ET

[BRIEFING.COM] The major U.S. indices are modestly higher in the opening minutes of today's sesion, with the S&P 500 sporting a gain of 0.2%.

Most sectors are trading in the green this morning, but gains have been limited for the most part. The technology and real estate sectors are up 0.6% and 0.5%, respectively, but no other advancing sector holds a gain of more than 0.4%. On the downside, the heavily-weighted financial sector is lower by 0.2%.

In the bond market, U.S. Treasuries have faced selling pressure, sending yields higher across the curve; the benchmark 10-yr yield is down two basis points at 2.38%.

Dow: +61.39… | Nasdaq: +28.08… | S&P: +5.76…

NASDAQ Adv/Dec 1804/832. …NYSE Adv/Dec 1704/915.

09:10AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +18.90.

The U.S. equity market is on track to open in the green as the S&P 500 futures trade three points, or 0.1%, above fair value.

It's widely believed that the Fed will increase the fed funds target range by 25 basis points to 1.25%-1.50% in its latest policy directive, which will be released at 14:00 ET. In addition, the U.S. central bank's statement will contain projections for interest rates--via the so-called "dot plot"--and a forecast for economic growth.

Fed Chair Janet Yellen will give a press conference 30 minutes after the release of the Fed's policy statement.

In Alabama, Democrat Doug Jones defeated Republican Roy Moore in a special election for a U.S. Senate seat. Mr. Jones' victory will reduce the GOP's already slim majority in the Senate from 52-48 to 51-49, but is not likely to impact Republicans' push for tax reform as Mr. Jones is not expected to be sworn into office until the new year.

On the data front, total CPI increased 0.4% in November, as expected, while core CPI, which excludes food and energy, increased a smaller-than-expected 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, total CPI was up 2.2%, versus 2.0% for the 12 months ending in October. Core CPI, however, decelerated to 1.7% from 1.8% for the 12 months ending in October.

The yield on the 2-yr note, which is more sensitive to changes in the fed funds rate, dropped from 1.85% prior to the report's release to 1.82% after its release. Meanwhile, the 10-yr note yield went from 2.42% to 2.37%, which is three basis points below where it settled on Tuesday.

Elsewhere, West Texas Intermediate crude futures are up 0.7% at $57.52 per barrel after the American Petroleum Institute reported on Tuesday evening that U.S. crude stockpiles declined by 7.4 million barrels last week. The official government figures will be released by the Energy Information Administration at 10:30 ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.40. Nasdaq futures vs fair value: +16.10.

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

Equity indices in the Asia-Pacific region ended the midweek session on a mostly higher note while Japan's Nikkei (-0.5%) underperformed, inching away from its December high. China Securities Times reported that companies have been advised by regulators to avoid frequent capital raises. Separately, China Academy of Social Sciences believes that interbank liquidity will remain tight until the Chinese Lunar New Year due to restrictions on wealth management companies and an expected Fed rate hike. Reports in South Korean press noted that tourism from China has declined by 50.0% due to the dispute over THAAD deployment. United Nations Political Affairs Chief Jeffrey Feltman said that North Korean leadership agrees that it is important to avoid war. Mr. Feltman's comments were made after his visit to North Korea.

In economic data:
Japan's October Core Machinery Orders +5.0% month-over-month (expected 2.8%; last -8.1%); +2.3% year-over-year (consensus -2.8%; last -3.5%)
Australia's December Westpac Consumer Sentiment 3.6% (last -1.7%)
South Korea's November Unemployment Rate ticked up to 3.7% from 3.6%
Singapore's Q3 Unemployment Rate rose to 2.2% from 2.1%

---Equity Markets---

Japan's Nikkei lost 0.5%. SUMCO, DeNA, Shin-Etsu Chemical, Tokyo Electron, Yaskawa Electric, Toho Zinc, Sumitomo Metal Mining, Okuma, Nitto Denko, Nippon Electric Glass, and Konica Minolta posted losses between 1.8% and 5.2%.
Hong Kong's Hang Seng climbed 1.5% amid broad strength. Galaxy Entertainment, Sands China, and financials like China Construction Bank, ICBC, Bank of China, BoC Hong Kong, Hang Seng Bank, HSBC, and Bank of East Asia surrendered between 1.8% and 5.5%.
China's Shanghai Composite climbed 0.7%. Shanghai Belling, China Resources & Environmental, Hengtong Optic Electric, Wuhan Xianglong Power Industry, and Tibet Summit Resources climbed between 4.8% and 6.7%.
India's Sensex lost 0.5%. Cipla, Adani Ports, Bharti Airtel, Larsen & Toubro, Tata Steel, ITC, and Tata Motors fell between 1.0% and 2.1%. Financials like HDFC Bank, AXIS Bank, ICICI Bank, and SBI hold losses between 0.1% and 1.6%.

Major European indices trade in the neighborhood of their flat lines while Italy's MIB (-0.9%) underperforms. Italy's President Sergio Mattarella will dissolve parliament during the final week of December, paving the way for a general election on March 4. British Prime Minister Theresa May is reportedly facing a challenge from within her party, as some members want the power to veto the final Brexit deal. In Germany, SPD deputy leader Ralf Stegner reiterated that his party will not join Angela Merkel's coalition at any price. Germany's DIW institute raised its GDP growth forecasts for Germany, expecting growth of 2.1% in 2017 and 2018, up from a previous outlook for growth of 1.9%.

In economic data:
Eurozone Q3 Employment Change +0.4% quarter-over-quarter, as expected (last 0.4%). October Industrial Production +0.2% month-over-month (expected -0.2%; last -0.5%); +3.7% year-over-year (consensus 3.5%; last 3.4%)
Germany's November CPI +0.3% month-over-month, as expected (last 0.3%); +1.8% year-over-year, as expected (last 1.8%). November WPI +0.5% month-over-month (expected 0.2%; last 0.0%); +3.3% year-over-year (consensus 3.4%; last 3.0%)
UK's October Unemployment Rate 4.3% (expected 4.2%; last 4.3%). November Claimant Count Change 5,900 (expected 3,200; last 6,500). October Average Earnings Index + Bonus +2.5%, as expected (last 2.3%)
Italy's October Industrial Production +0.5% month-over-month (expected 0.6%; last -1.3%); +3.1% year-over-year (expected 3.4%; last 2.2%)

---Equity Markets---

UK's FTSE trades up 0.1%, approaching its November high. Dixons Carphone leads with a gain of 7.4% after the company announced plans to reorganize its mobile unit. Financials like Provident Financial, Standard Life, HSBC, Barclays, and Old Mutual hold gains between 0.7% and 3.9%. Consumer names have fared relatively well with Sainsbury, Paddy Power, Compass, Morrison Supermarkets, Next, Tesco, InterContinental Hotels, and Burberry showing gains between 0.4% and 1.9%.
Germany's DAX is off 0.1%. Adidas, Fresenius, Henkel, Siemens, and Merck are down between 0.2% and 2.3%. On the upside, Daimler, Continental, Lufthansa, and Prosiebensat hold gains between 0.5% and 0.8%.
France's CAC has shed 0.3%. Financials are mixed with Credit Agricole down 1.0%, AXA shedding 0.2%, and BNP Paribas trading lower by 0.4%. Societe Generale outperforms, rising 0.2%. Automaker Renault holds a gain of 0.2%.
Italy's MIB is down 0.9% with banks leading the retreat. Bper Banca, Banco Bpm, UBI Banca, and UniCredit show losses between 3.9% and 5.1% while Telecom Italia, Mediaset, Moncler, Saipem, and Enel have given up between 0.9% and 3.0%.

08:32AM ET

[BRIEFING.COM] S&P futures vs fair value: +1.90. Nasdaq futures vs fair value: +10.30.

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

Just in, total CPI increased 0.4% (Briefing.com consensus +0.4%) in November while core CPI, which excludes food and energy, rose 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, total CPI and core CPI are up 2.2% and 1.7%, respectively.

07:59AM ET

[BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +1.10.

Equity futures indicate a flat open for the U.S. equity market as investors cautiously await the Fed's latest policy directive, which will be released at 14:00 ET. The S&P 500 futures trade one point below fair value, while the Nasdaq futures are up one point and the Dow futures are flat.

The Fed is expected to raise the fed funds target range by 25 basis points for the third time this year to 1.25%-1.50%, but the market will be more focused on the central bank's projections for interest rates, which will be revealed via the so-called "dot plot," and its forecasts for economic growth.

Fed Chair Janet Yellen will give a press conference 30 minutes after the release of the Fed's policy statement.

In Alabama, Democrat Doug Jones defeated Republican Roy Moore in a special election for a U.S. Senate seat. Mr. Jones' victory will reduce the GOP's already slim majority in the Senate from 52-48 to 51-49, but is not likely to impact Republicans' push for tax reform as Mr. Jones is not expected to be sworn into office until the new year.

U.S. Treasuries are trading in the red this morning, pushing yields higher across the curve; the benchmark 10-yr yield is up two basis points at 2.42%. The early advance extends the 10-yr yield's week-to-date gain to four basis points.

Meanwhile, West Texas Intermediate crude futures are up 0.7% at $57.53 per barrel after the American Petroleum Institute reported on Tuesday evening that U.S. crude stockpiles declined by 7.4 million barrels last week. The official government figures will be released by the Energy Information Administration at 10:30 ET.

On the data front, investors will receive the November Consumer Price Index (Briefing.com consensus +0.4%) and the core Consumer Price Index (Briefing.com consensus +0.2%), which excludes food and energy, at 8:30 ET. The weekly MBA Mortgage Applications Index decreased 2.3% to follow last week's 4.7% increase.

Elsewhere, equity indices in the Asia-Pacific region ended Wednesday mixed, while the Euro Stoxx 50 is lower by 0.1%.

In U.S. corporate news:

Western Digital (WDC 85.25, +3.48): +4.3% after settling a legal dispute with Toshiba and raising its profit guidance for its fiscal second quarter.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the midweek session mixed. Japan's Nikkei -0.5%, Hong Kong's Hang Seng +1.5%, China's Shanghai Composite +0.7%, India's Sensex -0.5%.
In economic data:
Japan's October Core Machinery Orders +5.0% month-over-month (expected 2.8%; last -8.1%); +2.3% year-over-year (consensus -2.8%; last -3.5%)
Australia's December Westpac Consumer Sentiment 3.6% (last -1.7%)
South Korea's November Unemployment Rate ticked up to 3.7% from 3.6%
Singapore's Q3 Unemployment Rate rose to 2.2% from 2.1%
In news:
China Securities Times reported that companies have been advised by regulators to avoid frequent capital raises. Separately, China Academy of Social Sciences believes that interbank liquidity will remain tight until the Chinese Lunar New Year due to restrictions on wealth management companies and an expected Fed rate hike.
Reports in South Korean press noted that tourism from China has declined by 50.0% due to the dispute over THAAD deployment.
United Nations Political Affairs Chief Jeffrey Feltman said that North Korean leadership agrees that it is important to avoid war. Mr. Feltman's comments were made after his visit to North Korea.

Major European indices trade in the neighborhood of their flat lines while Italy's MIB (-0.9%) underperforms. UK's FTSE +0.1%, Germany's DAX -0.1%, France's CAC -0.2%.
In economic data:
Eurozone Q3 Employment Change +0.4% quarter-over-quarter, as expected (last 0.4%). October Industrial Production +0.2% month-over-month (expected -0.2%; last -0.5%); +3.7% year-over-year (consensus 3.5%; last 3.4%)
Germany's November CPI +0.3% month-over-month, as expected (last 0.3%); +1.8% year-over-year, as expected (last 1.8%). November WPI +0.5% month-over-month (expected 0.2%; last 0.0%); +3.3% year-over-year (consensus 3.4%; last 3.0%)
UK's October Unemployment Rate 4.3% (expected 4.2%; last 4.3%). November Claimant Count Change 5,900 (expected 3,200; last 6,500). October Average Earnings Index + Bonus +2.5%, as expected (last 2.3%)
Italy's October Industrial Production +0.5% month-over-month (expected 0.6%; last -1.3%); +3.1% year-over-year (expected 3.4%; last 2.2%)
In news:
Italy's President Sergio Mattarella will dissolve parliament during the final week of December, paving the way for a general election on March 4.
British Prime Minister Theresa May is reportedly facing a challenge from within her party, as some members want the power to veto the final Brexit deal.
In Germany, SPD deputy leader Ralf Stegner reiterated that his party will not join Angela Merkel's coalition at any price. Germany's DIW institute raised its GDP growth forecasts for Germany, expecting growth of 2.1% in 2017 and 2018, up from a previous outlook for growth of 1.9%.

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +4.90.
05:52AM ET

[BRIEFING.COM] Nikkei

...22758...-108.10...-0.50%

Hang Seng...29222...+428.20...+1.50%

05:52AM ET

[BRIEFING.COM] FTSE...7498.24...-2.20...0.00%

DAX...13166.41...-17.10...-0.10%

04:20PM ET

[BRIEFING.COM] The U.S. equity market had another positive showing on Tuesday, with the S&P 500 and the Dow Jones Industrial Average closing at fresh record highs for the third session in a row.

Tuesday's session was, like Monday's, relatively quiet as investors continued to await the Fed's latest policy directive, which will cross the wires on Wednesday afternoon. The S&P 500 advanced 0.2% with seven of its eleven sectors finishing in positive territory. The Dow did modestly better, adding 0.5%, while the tech-heavy Nasdaq finished with a loss of 0.2%.

The heavily-weighted financial sector climbed 1.0% on Tuesday, extending its December gain to 2.5%--which is more than four times the S&P 500's month-to-date gain of 0.6%. Within the group, Dow component Goldman Sachs (GS 257.68, +7.55) was among the strongest names (+3.0%), helping the Dow Jones Industrial Average outpace its peers.

Finishing at the very top of the sector standings--just one step above the financial group--was the telecom services sector, which rallied 2.8%. Wireless giants AT&T (T 38.10, +1.20) and Verizon (VZ 53.19, +1.35) finished with respective gains of 3.3% and 2.6%. VZ shares were upgraded to 'Buy' at Nomura before the opening bell.

As for the other advancing sectors, none finished with a gain of more than 0.4%.

On the downside, the top-weighted technology sector (-0.3%) settled in negative territory, breaking a five-session winning streak. Chipmakers were particularly weak, evidenced by the 1.0% decrease in the PHLX Semiconductor Index, as was social media giant Facebook (FB 176.96, -2.08), which dropped 1.2%.

In corporate news, Dow component Boeing (BA 289.94, +6.78) announced a 20% increase in its quarterly dividend and a new $18 billion share repurchase program. The news sent the aerospace giant to a new all-time high (+2.4%) and helped fuel the Dow's relatively strong performance.

U.S. Treasuries ended the day mostly lower, but shorter-dated issues managed to eke out slim gains. The 2-yr yield slipped one basis point to 1.81%, while the benchmark 10-yr yield climbed two basis points to 2.40%. The three basis point increase in the 2yr-10yr spread helped fuel the financial sector's positive performance.

Elsewhere, equity indices in the Asia-Pacific region finished Tuesday on a lower note, with China's Shanghai Composite (-1.3%) pacing the retreat, while the Euro Stoxx 50 advanced for the third time in four sessions, adding 0.4%.

Reviewing Tuesday's economic data, which included the November Producer Price Index and the November Treasury Budget:

Producer prices rose 0.4% in November (Briefing.com consensus +0.4%), while core producer prices increased 0.3% (Briefing.com consensus +0.2%). Year-over-year, producer prices are up 3.1% and core producer prices have risen 2.4%.
The key takeaway from the PPI report is that producer prices are rising and will create some profit margin pressures if the higher prices are not passed through to consumers.
The Treasury Budget for November showed a deficit of $138.5 billion (Briefing.com consensus -$134.0 billion) versus a deficit of $136.7 billion for November 2016.
The Treasury Budget data is not seasonally adjusted, so the November deficit cannot be compared to the $63.2 billion deficit registered in October.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00 ET and the November Consumer Price Index (Briefing.com consensus +0.4%) at 8:30 ET. The Fed will release its latest policy directive at 14:00 ET.

Dow: +118.77… | Nasdaq: -12.76… | S&P: +4.12…

NASDAQ Adv/Dec 1216/1408. …NYSE Adv/Dec 1345/1583.

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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TheStrategyLab Price Action Trading
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