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Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
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 Post subject: May 4th Friday Price Action Trade Result Profit $487.50
PostPosted: Fri May 04, 2018 1:43 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Price Action Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm & http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Users Reviews, Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Review of TheStrategyLab: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167 & http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
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Telephone: +1 708 572-4885
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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 @ $487.50 dollars or +9.75 points, Light Crude Oil CL ($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 @ $487.50 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=180&t=2815

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...review of TheStrategyLab is that 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.

Quote:
These real-time trades involves price action concepts from WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Yet, I'm always backtesting new concepts of WRB Analysis, new trade entry rules, new trade management rules, new position size management rules before application in real money trades (small position size trades) to adapt to changed market conditions prior to large position size trades and prior to sharing the new concepts with fee-base clients...living up to the name of my website. TheStrategyLab.

Image ##TheStrategyLab Chat Room is free. The 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.

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=350&t=3706 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini RTY futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives for easy review to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker PnL statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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click on the above image to view today's price action of key markets discussed by members of TheStrategyLab chat room or private thread discussions

The Market at 04:25PM ET
Dow: +332.36… | Nasdaq: +121.47… | S&P: +33.69…
NASDAQ Vol: 2.03 bln… Adv: 2068… Dec: 764…
NYSE Vol: 765.7 mln… Adv: 2214… Dec: 729…

iPad apps for Morningstar StockInvestor, FundInvestor, DividendInvestor, ETFInvestor

Moving the Market

Monthly jobs report shows lower-than-expected nonfarm payroll increase (164K actual vs 190K Briefing.com consensus), while average hourly earnings rose 0.2%, as expected

Warren Buffet reveals his company, Berkshire Hathaway (BRK.B), bought an additional 75 million shares of Apple (AAPL) in the first quarter; AAPL shares rally

Top-weighted technology sector reemerges as a leadership group

S&P 500 finds support at its 200-day moving average

Sector Watch
Strong: Technology
Weak: Energy, Health Care, Utilities, Telecom Services

04:25PM ET

[BRIEFING.COM] U.S. equities rallied on Friday following the publication of the monthly jobs report, with technology names leading the charge -- including Apple (AAPL 183.83, +6.94), which rallied 3.9% after Warren Buffet revealed his company, Berkshire Hathaway (BRK.B 195.64, +4.03), bought an additional 75 million shares of Apple in the first quarter. The Russell 2000 jumped 1.2%, the S&P 500 advanced 1.3%, the Dow climbed 1.4%, and the Nasdaq rose 1.7%.

Equity indices opened the session modestly lower, but things turned around quickly after the S&P 500 found support at its 200-day moving average. Stocks climbed steadily into the late afternoon, finishing near their best marks of the day. Friday's gains brought the S&P 500 and the Dow within 0.2% of their flat lines for the week and left the Nasdaq with a weekly gain of 1.3%.

The Employment Situation report for April was released on Friday morning, but didn't contain many surprises, reinforcing the notion that the Fed is on course for at least two more rate hikes this year. The report showed a lower-than-expected increase in nonfarm payrolls (164K actual vs 190K Briefing.com consensus), an in-line reading for average hourly earnings (+0.2% actual/Briefing.com consensus), and a lower-than-expected unemployment rate (3.9% actual vs 4.0% Briefing.com consensus).

Gains were broad-based on Friday, with all 11 S&P sectors settling in the green. The top-weighted technology sector (+2.0%) closed at the top of the day's leaderboard, but seven groups in total finished with gains of at least 1.0%. The energy and utilities sectors finished at the back of the pack, but still added 0.4%-0.5% apiece.

Several well-known consumer names rallied after reporting better-than-expected quarterly earnings and revenues, including Pandora (P 6.89, +1.14), GoPro (GPRO 5.45, +0.49), and Shake Shack (SHAK 55.95, +8.54), which spiked between 9.9% and 19.8%, and CBS (CBS 53.17, +4.43), which climbed 9.1%. However, V.F. Corp (VFC 76.27, -2.19) -- which owns brands like The North Face, Lee, Wrangler, JanSport, and Dickies -- declined 2.8% despite also beating top and bottom line estimates.

U.S. Treasuries saw some intraday movement on Friday, but ended mostly flat, with the yield on the benchmark 10-yr Treasury note closing unchanged at 2.94%. Meanwhile, WTI crude futures jumped 1.9% to $69.72/bbl, their highest close since November 2014, and the U.S. Dollar Index climbed 0.2% to 92.45 -- a new 2018 high.

In geopolitics, two days of trade negotiations between the U.S. and China ended without a deal, as expected, but the two sides did agree to keep talking.

Nasdaq Composite: +4.4% YTD
Russell 2000: +2.0% YTD
S&P 500: -0.4% YTD
Dow Jones Industrial Average: -1.9% YTD

Week In Review: Mixed Week Ends On A Positive Note

Equity indices finished the week mixed, with the S&P 500 and the Dow losing 0.2% apiece and the tech-heavy Nasdaq adding 1.3%. Investors digested the latest policy directive from the Fed, the Employment Situation report for April, and another big batch of corporate earnings -- including Apple's (AAPL) quarterly report.

The stock market kicked off the week on a lower note Monday, with telecoms leading the retreat after Sprint (S) and T-Mobile US (TMUS) agreed to an all-stock merger over the weekend. The deal, which capped four years of on-again, off-again talks, is aimed at creating a larger carrier to better compete with wireless giants AT&T (T) and Verizon (VZ).

Wall Street bounced back a bit on Tuesday, led by technology shares, which rallied ahead of Apple's quarterly earnings release. Apple's results crossed the wires on Tuesday evening, showing a better-than-expected bottom line. In addition, the tech giant raised its profit guidance for the current quarter, increased its share repurchase program by $100 billion, and raised its dividend by 16%.

Apple shares rallied more than 4.0% on Wednesday in reaction to the upbeat results/guidance, but the broader market struggled -- a somewhat concerning signal considering Apple was among the top performers during last year's rally and considering it's the largest component in the S&P 500 by market cap.

The Fed's latest policy directive was released on Wednesday afternoon, but contained few surprises. Fed officials unanimously decided to leave the federal funds target range unchanged at 1.50% to 1.75%, as expected. In addition, officials laid the groundwork for a rate hike at the June meeting and left the door open for another one to two hikes before the end of the year.

Equity indices shot lower at the start of Thursday's session, with the S&P 500 busting through its 200-day moving average, but eventually rebounded to finish little changed. Tesla (TSLA) received a lot of attention in the media on Thursday after its CEO, Elon Musk, unconventionally dismissed analysts' questions in the company's earnings call, calling them "boring."

The Employment Situation report for April crossed the wires on Friday morning, showing a lower-than-expected increase in nonfarm payrolls (164K actual vs 190K Briefing.com consensus), an in-line reading for average hourly earnings (+0.2% actual/Briefing.com consensus), and a lower-than-expected unemployment rate (3.9% actual vs 4.0% Briefing.com consensus).

The key takeaway from the report is that there weren't a lot of big surprises in it, which effectively means the Fed is apt to stay on course for at least two more rate hikes this year.

Apple reemerged in the headlines on Friday after Warren Buffet revealed his company, Berkshire Hathaway (BRK.B), bought an additional 75 million shares of Apple in the first quarter. Apple jumped 3.9% in reaction, leading a broad-based rally that made a significant dent in the S&P 500's weekly decline. The tech group was the top-performing sector on Friday, extending its weekly gain to 3.2%.

The technology sector closed at the top of the sector standings by a decent margin, while health care (-3.0%), telecom services (-4.6%), and consumer staples (-2.0%) finished at the back of the pack. In total, seven S&P 500 sectors settled the week in negative territory, while four groups settled in the green.
Dow: +332.36… | Nasdaq: +121.47… | S&P: +33.69…
NASDAQ Adv/Dec 2068/764. …NYSE Adv/Dec 2214/729.

03:35PM ET
[BRIEFING.COM]

Commodities finishing the day higher
The Bloomberg Commodity Index is closing out the day +0.4% at 89.99
Among energy...
June WTI crude oil futures settled $1.27 higher at $69.72/barrel
June natural gas futures settled $0.01 lower at $2.71/MMBtu
Looking at metals...
June gold futures rose $1.70 to $1314.70/oz, while June silver futures rose $0.07 to $16.52/oz
June copper futures settled $0.01 higher at $3.09/lb

Dow: +360.24… | Nasdaq: +130.71… | S&P: +36.74…
NASDAQ Adv/Dec 2090/745. …NYSE Adv/Dec 2226/690.

03:00PM ET

[BRIEFING.COM] The major averages keep on climbing, notching new session highs in recent trading. The S&P 500 is up 1.5% moving into the final stretch.

All 11 S&P sectors are in the green -- financials (+1.6%), consumer discretionary (+1.5%), industrials (+1.4%), energy (+0.6%), materials (+1.7%), technology (+2.0%), health care (+1.1%), consumer staples (+1.9%), utilities (+0.7%), telecom services (+0.7%), and real estate (+1.3%).

Looking ahead to next week's earnings, Walt Disney (DIS 101.12, +2.36) will report on Tuesday, 21st Century Fox (FOXA 37.69, +0.82) will report on Wednesday, and both Duke Energy (DUK 238.06, +5.07) and NVIDIA (NVDA 238.10, +5.11) will report on Thursday.
Dow: +368.53… | Nasdaq: +131.71… | S&P: +37.66…
NASDAQ Adv/Dec 2144/713. …NYSE Adv/Dec 2284/627.

02:30PM ET

[BRIEFING.COM] The major averages are little changed since our last update.

Currently near session lows, shares of weight management service Weight Watchers (WTW 71.49, +1.79, +2.6%) have cooled off as Friday has progressed. Initially above the $77 level in the after-hours session last night, shares notched a five-year high. The stock opened 2.6% higher this morning and at one point today posted a cool 10% advance. In reaction to better than expected sales and earnings, raising its earnings outlook for the full year, and posting its best subscriber number in the company's history, Weight Watchers could seemingly do no wrong. However, the intraday decline could be rooted in some modest profit taking but one thing is for sure, Weight Watchers' brand ambassadors -- Oprah Winfrey, DJ Khaled, and Kevin Smith -- have shown investors that there may be some cachet left in celebrity endorsement.

Overall, the consumer discretionary space (+1.4%) mirrors the broader market move higher. Consumer discretionary peers -- Amazon (AMZN ,1583.81, +11.73, +0.8%), McDonalds (MCD 165.28, +5.20, +3.3%), NIKE (NKE 68.27, +1.37, +2.1%), Starbucks (SBUX 57.84, +1.71, +3.1%), and Yum! Brands (YUM 82.87, +0.20, +0.2%) -- also trade above yesterday's close. The Consumer Discretionary SPDR (XLY 104.21, +1.54) posts a 1.5% gain on Friday.
Dow: +365.35… | Nasdaq: +134.58… | S&P: +35.08…
NASDAQ Adv/Dec 2132/710. …NYSE Adv/Dec 2297/605.

01:55PM ET

[BRIEFING.COM] The Nasdaq Composite recently peeked above its 50-day simple moving average (7203) as all three major averages currently trade near HoDs, higher now between 1.1% and 1.6% apiece.

Gold futures ended the week on a high(er) note with a +0.2% settle on Friday to $1,314.70/oz, yet the yellow metal posted a 0.7% loss since Monday. The VanEck Vectors Gold Miners ETF (GDX 22.66, +0.01, +0.0%), and the VanEck Vectors Jr. Gold Miners ETF (GDXJ 33.55, +0.07, +0.2%) are also higher at this juncture.

The U.S. Dollar Index hosts a slight advance into the afternoon, up 0.2% at 92.59.
Dow: +295.92… | Nasdaq: +115.46… | S&P: +29.17…
NASDAQ Adv/Dec 2084/736. …NYSE Adv/Dec 2263/631.

01:25PM ET

[BRIEFING.COM] The major U.S. indices continue to trade near session highs, looking to end the week on a positive note.

A look inside the Dow Jones Industrial Average shows that Apple (AAPL 182.84, +5.95), McDonald's (MCD 164.44, +4.36), and DowDuPont (DWDP 65.11, +1.64) are outperforming. Apple is leading the Dow after Warren Buffet revealed his company, Berkshire Hathaway (BRK.B 194.74, +3.13), bought an additional 75 million shares of Apple in the first quarter.

Conversely, Chevron (CVX 126.17, +0.16) is the worst-performing Dow component as energy names lag; however, CVX shares are still in the green, up 0.1%.

For the week, the DJIA is -0.3%.
Dow: +298.73… | Nasdaq: +104.08… | S&P: +30.00…
NASDAQ Adv/Dec 2073/730. …NYSE Adv/Dec 2264/617.

12:55PM ET

[BRIEFING.COM] Wall Street is rallying today, trying to recoup losses for the week. Technology shares -- specifically Apple (AAPL 183.58, +6.69, +3.8%) -- are leading the broad-based climb after Warren Buffet revealed his company, Berkshire Hathaway (BRK.B 194.13, +2.52), bought an additional 75 million shares of Apple in the first quarter.

The S&P 500 is up 1.2%, the Dow Jones Industrial Average is up 1.2%, and the tech-heavy Nasdaq is up 1.5%. For the week, the Nasdaq is now in positive territory, up 1.0%, while the Dow and the S&P 500 have cut their weekly declines to around 0.4% apiece. Today's session began on a modestly lower note, but things turned around quickly after the S&P 500 found support at its 200-day moving average.

The Employment Situation report for April crossed the wires this morning, but didn't contain many surprises, reinforcing the notion that the Fed is on course for at least two more rate hike this year. The report showed a lower-than-expected increase in nonfarm payrolls (164K actual vs 190K Briefing.com consensus), an in-line reading for average hourly earnings (+0.2% actual/Briefing.com consensus), and a larger-than-expected decline in the unemployment rate (3.9% actual vs 4.0% Briefing.com consensus).

All sectors are in the green this afternoon, with gains ranging between 0.4% and 1.7%. The top-weighted tech group (+1.7%) is the top-performer, with materials (+1.5%) and consumer staples (+1.4%) on its heels. On the flip side, the health care sector (+0.4%) is at the bottom of the leaderboard.

In earnings news, biotech giant Celgene (CELG 86.65, +1.25) is up 1.4% after reporting better-than-expected earnings and revenues, while smaller names like GoPro (GPRO 5.38, +0.42), Pandora Media (P 7.03, +1.28), and Shake Shack (SHAK 58.17, +10.76) are solidly higher, up between 8.7% and 22.8%, after all three companies also beat on the top and bottom lines. On the downside, V.F. Corp (VFC 75.85, -2.61) is down 3.3% despite upbeat earnings and revenues.

On the geopolitical front, two days of trade talks between the U.S. and China ended today without a deal in place, as expected, but the two sides did agree to keep on talking.

Elsewhere, the yield on the benchmark 10-yr Treasury note has been up and down today, but currently trades flat at 2.95%. West Texas Intermediate crude futures are up 2.1% at $69.83/bbl, hitting their highest level since late 2014, and the U.S. Dollar Index is up 0.1% at 92.41, which marks a fresh 2018 high.
Dow: +274.74… | Nasdaq: +102.26… | S&P: +28.02…
NASDAQ Adv/Dec 2018/761. …NYSE Adv/Dec 2233/642.

12:30PM ET

[BRIEFING.COM] The major averages keep ticking higher, notching new highs in recent trading. The S&P 500 is now up 1.1%.

All 11 S&P 500 sectors are in the green; technology (+1.6%), materials (+1.5%), consumer staples (+1.4%), and consumer discretionary (+1.2%) are at the top of the sector standings, while health care (+0.3%), utilities (+0.6%), and telecom services (+0.5%) are at the bottom.

In Europe, the major bourses finished Friday on a higher note, adding between 0.3% and 1.0%.
Dow: +287.06… | Nasdaq: +101.88… | S&P: +27.68…
NASDAQ Adv/Dec 1978/777. …NYSE Adv/Dec 2221/647.

11:55AM ET

[BRIEFING.COM] Equity indices are still up big, with the S&P 500 higher by 0.9%.

In earnings news, biotech giant Celgene (CELG 87.49, +2.09) is up 2.4% after reporting better-than-expected earnings and revenues, while smaller names like Weight Watchers (WTW 73.55, +3.85), GoPro (GPRO 5.32, +0.36), Pandora Media (P 7.12, +1.37), and Shake Shack (SHAK 58.78, +11.36) are up between 6.1% and 24.5% after all four companies also beat on the top and bottom lines.

On a separate note, crude futures have extended their earlier gains, climbing to their highest level since late 2014. West Texas Intermediate crude futures are currently up 1.8% at $69.68/bbl, looking to crack the psychologically important $70.00 mark.
Dow: +226.86… | Nasdaq: +94.11… | S&P: +23.23…
NASDAQ Adv/Dec 1956/773. …NYSE Adv/Dec 2144/685.

11:30AM ET

[BRIEFING.COM] The major averages continue to drift near their best marks of the day, sporting gains between 0.8% and 1.2%.

Consumer staples is in second place in today's sector standings -- just a tick behind information technology -- with a gain of 1.3%. Within the space, Kraft Heinz (KHC 60.22, +2.07), Mondelez International (MDLZ 38.90, +1.32), and Kellogg (K 60.22, +2.07) are leading the charge, up between 3.5% and 3.8%, after all three companies reported upbeat quarterly earnings earlier in the week.

Meanwhile, in the bond market, U.S. Treasuries have given back their overnight gains, slipping into negative territory. Yields are now higher, with the benchmark 10-yr yield up one basis point at 2.96% and the 2-yr yield up two basis points at 2.51%.
Dow: +239.36… | Nasdaq: +94.21… | S&P: +23.71…
NASDAQ Adv/Dec 1911/785. …NYSE Adv/Dec 2097/690.

11:00AM ET

[BRIEFING.COM] The stock market has taken off this morning, reclaiming all of its opening loss and charging into positive territory. The tech-heavy Nasdaq Composite is up 1.1%, while the Dow Jones Industrial Average and the S&P 500 are up 1.0% and 0.8%, respectively.

The top-weighted technology sector (+1.3%) has led the leg higher, which has likely fueled additional buying elsewhere as investors cheer the re-emergence of the leadership group. Within the space, Apple (AAPL 182.86, +6.00) is up 3.4% following news that Berkshire Hathaway (BRK.B 193.00, +1.46) bought an additional 75 million shares of Apple in Q1, while other giants like Facebook (FB 176.50, +2.51), Alphabet (GOOG 1036.92, +13.20), and Microsoft (MSFT 94.87, +0.81) are up between 0.8% and 1.4%.

The energy group is lagging however, down 0.1%, even though WTI crude futures have climbed 0.9% to $69.03/bbl -- their highest level since late 2014.
Dow: +216.97… | Nasdaq: +81.49… | S&P: +19.56…
NASDAQ Adv/Dec 1798/851. …NYSE Adv/Dec 1996/773.

10:30AM ET
[BRIEFING.COM]

Commodities are beginning the day slightly lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.1% at 89.60
Dollar index is currently +0.3% at 92.53
Looking at energy...
June WTI crude oil futures are now +$0.35 at $68.78/barrel
In other energy, June natural gas is -$0.01 at $2.72/MMBtu
Moving on to metals...
June gold is currently +$1.20 at $1313.90/oz, while May silver is +$0.04 at $16.49/oz
May copper is now -$0.005 at $3.075/lb

Dow: +162.78… | Nasdaq: +56.51… | S&P: +13.25…
NASDAQ Adv/Dec 1564/927. …NYSE Adv/Dec 1852/891.

10:00AM ET

[BRIEFING.COM] Equity indices have climbed to their flat lines after opening with modest losses.

Defense-oriented sectors like consumer staples (+0.5%), utilities (+0.4%), and telecom services (+0.5%) are atop the sector standings, while growth-oriented sectors like financials (-0.3%), industrials (-0.3%), energy (-0.5%), and materials (-0.2%) are at the bottom.

The top-weighted information technology sector is a tick higher, helped by Apple (AAPL 180.87, +4.08), which is up 2.4% following news that Berkshire Hathaway (BRK.B 190.97, -0.64) bought an additional 75 million shares of Apple in Q1.
Dow: +10.29… | Nasdaq: +13.50… | S&P: -0.44…
NASDAQ Adv/Dec 1243/1291. …NYSE Adv/Dec 1271/1322.

09:40AM ET

[BRIEFING.COM] The major averages are modestly lower in the opening minutes, showing losses between 0.1% and 0.3%.

Most S&P sectors are in the red. Financials (-0.9%) and industrials (-0.6%) are the weakest groups, while the utilities (+0.4%) group is the strongest.

Treasury yields are still lower, with the benchmark 10-yr yield down two basis points at 2.93%.
Dow: -53.78… | Nasdaq: -2.64… | S&P: -4.67…
NASDAQ Adv/Dec 1016/1437. …NYSE Adv/Dec 990/1539.

09:13AM ET
[BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -0.80.

The stock market is on course for a slightly lower open, as the S&P 500 futures are trading two points, or 0.1%, below fair value.

Futures initially slipped following the release of the Employment Situation report for April, but have since returned to their earlier levels:

April nonfarm payrolls increased by 164,000 while the Briefing.com consensus expected an increase of 190,000. The prior month's increase was revised to 132,000 from 103,000.
Nonfarm private payrolls rose by 168,000 while the Briefing.com consensus expected an increase of 193,000. The previous month's increase was revised to 135,000 from 102,000.
Average hourly earnings increased 0.2% (Briefing.com consensus +0.2%), while the previous month's increase was revised to 0.2% from 0.3%.
The average workweek was reported at 34.5 (Briefing.com consensus 34.5).
The unemployment rate declined to 3.9% from 4.1% (Briefing.com consensus 4.0%).

The key takeaway from the report is that there weren't a lot of big surprises in it, which effectively means the Fed is apt to stay on course for at least two more rate hikes this year.

U.S. Treasuries have had a muted reaction to the jobs report, keeping their overnight gains largely intact. The yield on the benchmark 10-yr Treasury note is down two basis points at 2.93%, and the yield on the more "Fed-sensitive" 2-yr note is down one basis point at 2.48%. Yields move inversely to prices.

On the corporate front, shares of Apple (AAPL 179.20, +2.31) are up 1.3% in pre-market trading after Warren Buffet revealed his company, Berkshire Hathaway (BRK.B 192.00, +0.39), bought an additional 75 million shares of Apple in Q1.

In geopolitics, two days of trade talks between the U.S. and China ended earlier this morning without a deal in place, as expected, but the two sides did agree to keep on talking. The U.S. reportedly asked China to commit to decreasing the trade deficit by at least $200 billion by the end of 2020.

08:51AM ET
[BRIEFING.COM] S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -12.50.

The S&P 500 futures are trading six points, or 0.2%, below fair value.

Equity indices in the Asia-Pacific region ended the week on a mostly lower note while Japan's Nikkei was closed for Greenery Day. The New York Times reported that President Trump has ordered Pentagon to consider reducing the number of U.S. troops deployed in South Korea. China's Premier Li Keqiang is expected to visit Japan to promote bilateral ties. The Reserve Bank of Australia released its quarterly statement, raising its core inflation forecast for December to 2.00% from 1.75%. The statement noted that higher rates will be appropriate at some point if the Australian economy improves as expected and pointed to rising funding costs for banks.

In economic data:
China's April Caixin Services PMI 52.9 (expected 52.2; last 52.3)
Hong Kong's April Manufacturing PMI 49.1 (last 50.6)
India's April Nikkei Services PMI 51.4 (last 50.3)
South Korea's March Current Account surplus $5.18 billion (last $3.96 billion)

---Equity Markets---

Japan's Nikkei was closed. The index was little changed during the abbreviated week, adding fewer than five points. Hong Kong's
Hang Seng lost 1.3%, surrendering 1.2% for the week. HSBC lost 3.5% after reporting a decline in profits while other financials like Hang Seng Bank, Bank of East Asia, ICBC, and BoC Hong Kong fell between 1.3% and 2.5%.
China's Shanghai Composite shed 0.3%, losing 0.3% for the week. Tibet Tourism, Shanghai East-China Computer, Wuhan Yangtze Communication Industry Group, and Inspur Software surrendered between 5.0% and 6.9%.
India's Sensex fell 0.5%, trimming this week's gain to 1.5%. Sun Pharma, Yes Bank, Bajaj Auto, ITC, AXIS Bank, Mahindra & Mahindra, and Infosys posted losses between 0.8% and 3.0%.

Major European indices trade on a mostly higher note while France's CAC (-0.3%) underperforms. In Italy, President Sergio Mattarella will give political parties their last chance to put together a coalition government. The attempt will be made during Monday's consultations while a failure to reach a deal would lead to a new election. The Brexit saga has taken another turn, as reports indicate Brexit secretary David Davis might depart the cabinet due to the inability to agree on Britain's future relationship with the customs union. UK's National Institute of Economic and Social Research lowered the UK's 2018 growth outlook to 1.5% from 1.9%. NIESR does not expect the Bank of England to raise its bank rate next week, but expects policy normalization to begin in August.

In economic data:
Eurozone March Retail Sales +0.1% month-over-month (expected 0.5%; last 0.3%); +0.8% year-over-year (expected 1.9%; last 1.8%). April Services PMI 54.7 (expected 55.0; last 55.0)
Germany's April Services PMI 53.0 (expected 54.1; last 54.1)
France's April Services PMI 57.4, as expected (last 57.4), March Current Account -EUR1.30 billion (last -EUR900 million), and Q2 Industrial Investment +5.0% (last 4.0%)
Italy's April Services PMI 52.6 (expected 53.0; last 52.6)
Spain's April Services PMI 55.6 (expected 56.1; last 56.2) and Unemployment Change -86,700 (expected -100,200; last -47,700)

---Equity Markets---

Germany's DAX is higher by 0.3% amid gains in most components. Infineon has spiked 2.2% while Lufthansa, BASF, Thyssenkrupp, and Bayer hold gains between 0.6% and 1.6%. On the downside, automakers Volkswagen, BMW, and Daimler hold losses between 0.5% and 2.0%.
UK's FTSE trades up 0.3% with consumer names showing relative strength. Pearson, Dixons Carphone, IAG, Kingfisher, Diageo, and Burberry are up between 1.2% and 6.1%. On the downside, financials like HSBC, Standard Life, and Provident Financial are down between 0.7% and 3.0%.
France's CAC is down 0.3%. Consumer names L'Oreal, Accor, Kering, and Louis Vuitton are up between 0.1% and 0.8% while financials BNP Paribas and Societe Generale hold respective losses of 3.0% and 7.1% after reporting earnings.

08:34AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +5.50.

The S&P 500 futures are trading in line with fair value.

Just in, April nonfarm payrolls increased by 164,000 while the Briefing.com consensus expected an increase of 190,000. The prior month's increase was revised to 132,000 from 103,000. Nonfarm private payrolls rose by 168,000 while the Briefing.com consensus expected an increase of 193,000. The previous month's increase was revised to 135,000 from 102,000.

Average hourly earnings increased 0.2% (Briefing.com consensus +0.2%), while the previous month's increase was revised to 0.2% from 0.3%. The average workweek was reported at 34.5 (Briefing.com consensus 34.5). The unemployment rate declined to 3.9% from 4.1% (Briefing.com consensus 4.0%).

07:57AM ET
[BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -0.30.

Wall Street is in wait-and-see mode this morning ahead of the publication of the Employment Situation report for April at 8:30 AM ET. The S&P 500 futures are currently trading two points below fair value. For the week, the S&P 500 enters today's session with a loss of 1.5%.

The Briefing.com consensus expects that the Employment Situation report for April will show the addition of 190K nonfarm payrolls, a 0.2% increase in average hourly earnings, and a downtick in the unemployment rate -- to 4.0% from 4.1%. The average hourly earnings figure will be especially notable, as wage growth goes hand in hand with inflation. The market is all but certain that the Fed will hike rates next month and at least another time by the end of the year -- possibly two depending on inflation.

Two days of trade talks between the U.S. and China ended earlier this morning without a deal in place, as expected, but the two sides did agree to keep on talking. The U.S. reportedly asked China to commit to decreasing the trade deficit by at least $200 billion by the end of 2020.

U.S. Treasuries are higher this morning, pushing yields lower across the curve; the benchmark 10-yr yield is down two basis points at 2.93%, while the "Fed-sensitive" 2-yr yield is also down two basis points, hovering at 2.47%. Meanwhile, WTI crude futures are up 0.3% at $68.60/bbl, and the U.S. Dollar Index is up 0.1% at 92.35 -- challenging its best level of the year.

In U.S. corporate news:

Apple (AAPL 178.78, +1.89): +1.1% after Warren Buffet revealed his company, Berkshire Hathaway, bought 75 million shares of Apple in Q1.
Celgene (CELG 87.22, +1.82): +2.1% after beating earnings and revenue estimates for Q1.
Newell Brands (NWL 27.99, +1.30): +4.9% after reporting better-than-expected earnings and revenues for Q1.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mostly lower note while Japan's Nikkei was closed for Greenery Day. Hong Kong's Hang Seng -1.3%, China's Shanghai Composite -0.3%, India's Sensex -0.5%.
In economic data:
China's April Caixin Services PMI 52.9 (expected 52.2; last 52.3)
Hong Kong's April Manufacturing PMI 49.1 (last 50.6)
India's April Nikkei Services PMI 51.4 (last 50.3)
South Korea's March Current Account surplus $5.18 billion (last $3.96 billion)
In news:
The New York Times reported that President Trump has ordered Pentagon to consider reducing the number of U.S. troops deployed in South Korea.
China's Premier Li Keqiang is expected to visit Japan to promote bilateral ties.
The Reserve Bank of Australia released its quarterly statement, raising its core inflation forecast for December to 2.00% from 1.75%. The statement noted that higher rates will be appropriate at some point if the Australian economy improves as expected and pointed to rising funding costs for banks.

Major European indices trade on a mostly higher note while France's CAC (unch) underperforms. Germany's DAX +0.4%, UK's FTSE +0.4%.
In economic data:
Eurozone March Retail Sales +0.1% month-over-month (expected 0.5%; last 0.3%); +0.8% year-over-year (expected 1.9%; last 1.8%). April Services PMI 54.7 (expected 55.0; last 55.0)
Germany's April Services PMI 53.0 (expected 54.1; last 54.1)
France's April Services PMI 57.4, as expected (last 57.4), March Current Account -EUR1.30 billion (last -EUR900 million), and Q2 Industrial Investment +5.0% (last 4.0%)
Italy's April Services PMI 52.6 (expected 53.0; last 52.6)
Spain's April Services PMI 55.6 (expected 56.1; last 56.2) and Unemployment Change -86,700 (expected -100,200; last -47,700)
In news:
In Italy, President Sergio Mattarella will give political parties their last chance to put together a coalition government. The attempt will be made during Monday's consultations while a failure to reach a deal would lead to a new election.
The Brexit saga has taken another turn, as reports indicate Brexit secretary David Davis might depart the cabinet due to the inability to agree on Britain's future relationship with the customs union.
UK's National Institute of Economic and Social Research lowered the UK's 2018 growth outlook to 1.5% from 1.9%.
NIESR does not expect the Bank of England to raise its bank rate next week, but expects policy normalization to begin in August.

07:30AM ET
[BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +7.80.

06:56AM ET
[BRIEFING.COM] S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: +4.30.

06:56AM ET
[BRIEFING.COM] Nikkei...Holiday......... Hang Seng...29926.50...-386.90...-1.30%.

06:56AM ET
[BRIEFING.COM] FTSE...7538.72...+36.00...+0.50%. DAX...12746.57...+56.40...+0.40%.

04:30PM ET

[BRIEFING.COM] Stocks got off to a bad start on Thursday, but rebounded sharply in the afternoon to end the session little changed. The S&P 500 and the Nasdaq Composite settled a tick lower, losing 0.2% apiece, the Dow Jones Industrial Average finished flat, and the Russell 2000 underperformed, losing 0.5%.

It looked like things might get ugly shortly after the opening bell, as the S&P 500 quickly dropped below its 200-day moving average, losing as much as 1.6%. The financial sector led that initial slide, with AIG (AIG 51.94, -2.90) showing particular weakness after missing earnings estimates for the first quarter; AIG shares ended the session lower by 5.3%.

Stocks drifted near their lows of the day for a couple of hours before the technology and materials sectors led a sharp move higher. The tech group was helped by chipmakers, especially NVIDIA (NVDA 232.99, +6.68), which climbed 3.0% after being upgraded to 'Overweight' from 'Equal Weight' at Barclays. Meanwhile, the materials group did relatively well even though its top component by market cap -- DowDuPont (DWDP 63.47, -0.02) -- struggled to advance after releasing its first quarter earnings -- which came in better-than-expected. DWDP shares ended flat.

The S&P 500 did touch positive territory at the top of that intraday rally, but slipped into the close -- possibly due to the uncertainty surrounding Friday's release of the Employment Situation Report for April. The report always has market-moving potential, but it may carry some extra weight this time around considering Treasury yields aren't far off from multi-year highs. The benchmark 10-yr yield, for instance, finished at 2.95% on Thursday -- which is about eight basis points below the more than four-year high it hit last week.

Tesla (TSLA 284.45, -16.70) received a lot of attention in the media on Thursday after its CEO, Elon Musk, unconventionally dismissed analysts' questions in the company's earnings call, calling them "boring"; shares of Tesla ended lower by 5.6%. On the upside, shares of Kellogg (K 58.15, +1.50) and Kraft Heinz (KHC 54.95, +0.75) rallied 2.7% and 1.4%, respectively, after both companies reported better-than-expected earnings for the first quarter.

In the end, three S&P sectors finished Thursday in the green -- industrials (+0.2%), materials (+0.3%), and technology (+0.3%) -- while eight finished in the red. The heavily-weighted financials and health care groups were the weakest performers, losing 0.9% apiece, but no other laggard lost more than 0.4%.

Investors received a big batch of economic data on Thursday that included the preliminary readings for first quarter Productivity and Unit Labor Costs, the March Trade Balance report, weekly Initial Claims, March Factory Orders, and the ISM Services Index for April:

The preliminary unit labor costs rose 2.7% during the first quarter, while the Briefing.com consensus expected an increase of 3.0%. The preliminary productivity reading showed an increase of 0.7%, while the Briefing.com consensus expected an increase of 0.8%.
The key takeaway from the report is that productivity is improving, yet it is still running at relatively weak levels. On a year-over-year basis, productivity was up 1.3% versus the 0.7% annual average for 2007 to 2017. The long-term average from 1947 to 2017 is 2.1%.
The latest weekly initial jobless claims count totaled 211,000, while the Briefing.com consensus expected a reading of 220,000. Today's tally was above the unrevised prior week count of 209,000. As for continuing claims, they declined to 1.756 million from a revised count of 1.833 million (from 1.837 million).
The key takeaway from the report is that it continues to underscore a condition of tightening supply in the labor market.
The March trade balance showed a deficit of $49.0 billion (Briefing.com consensus -$49.8 billion). The February deficit was revised to $57.7 billion from $57.6 billion.
The key takeaway from the report is that it will continue to feed the Trump Administration's trade fire as goods deficits were recorded with China, the EU, Mexico, Japan, Germany, OPEC, and Canada.
The ISM Services Index for April slipped to 56.8 (Briefing.com consensus 58.3) from an unrevised reading of 58.8. in March.
The key takeaway from the report is that it will feed into the slowdown narrative that has been building with the flattening yield curve, even though there is still broad-based strength in the components that drive the overall index reading. Separately, all 18 non-manufacturing industries reported growth in April.
The Factory Orders report for March showed an increase of 1.6% (Briefing.com consensus +1.2%). The February reading was revised to +1.6% from +1.2%.
The key takeaway from the report is that it showed a dip in business spending in March, evidenced by the 0.4% decrease in orders for nondefense capital goods excluding aircraft.

Friday's lone economic report -- the Employment Situation report for April -- will be released at 8:30 AM ET.

Nasdaq Composite: +2.7% YTD
Russell 2000: +0.7% YTD
S&P 500: -1.6% YTD
Dow Jones Industrial Average: -3.2% YTD

Dow: +5.17… | Nasdaq: -12.75… | S&P: -5.94…
NASDAQ Adv/Dec 1013/1815. …NYSE Adv/Dec 1190/1703.

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. gm

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