TheStrategyLab.com Price Action Trading Support Forum

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
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)
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)


Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $0.00 dollars

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis. The risk of loss can be substantial. Therefore, you must carefully consider if trading is suitable for you within the context of your financial condition. We make no guarantees of success and your level of success is dependent upon other factors including your skill as a trader, knowledge, financial condition, market conditions and other factors. Trading is stressful and you should always consult a doctor in all matters relating to physical and mental health of you and your family because trading can impact beyond your financial condition regardless if you're a profitable or losing trader.

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 is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=172&t=2682

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 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=331&t=3532 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 TF 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: +28.50… | Nasdaq: +28.71… | S&P: +2.43…
NASDAQ Vol: 2.03 bln… Adv: 1753… Dec: 1001…
NYSE Vol: 959.3 mln… Adv: 1840… Dec: 1106…

Moving the Market

Buy-the-dip trade following Monday's slip

Consumer staples show relative strength following upbeat earnings from Mondelez International (MDLZ) and Kellogg (K)

Top-weighted technology sector outperforms; chipmakers particularly strong

Sector Watch
Strong: Energy, Technology, Consumer Staples, Telecom Services, Real Estate
Weak: Financials, Consumer Discretionary, Industrials, Health Care
04:30PM ET

[BRIEFING.COM] Equities ticked higher on Tuesday, ending the session near their opening marks. The Nasdaq (+0.4%) outperformed both the S&P 500 (+0.1%) and the Dow (+0.1%), finishing at a new record high. Meanwhile, small caps did even better, sending the Russell 2000 higher by 0.8%.

The S&P 500's consumer staples sector (+0.8%) paced Tuesday's advance, thanks in large part to Mondelez International (MDLZ 41.43, +2.13)--the owner of brands like Oreo, Trident, and Chips Ahoy!--and Kellogg (K 62.53, +3.66)--which houses brands like Froot Loops and Pringles. The two companies jumped 5.4% and 6.2%, respectively, after reporting better-than-expected earnings and revenues.

Within the Dow Jones Industrial Average, Intel (INTC 45.49, +1.12) was the strongest component, adding 2.5%, following a Wall Street Journal report that Apple (AAPL 169.04, +2.32) could use the chipmaker's hardware, instead of Qualcomm's (QCOM 51.01, -3.65), in future iPhones and iPads. QCOM shares moved in the opposite direction, losing 6.7%.

As a reminder, Apple and Qualcomm are currently in a legal battle, with Apple alleging that Qualcomm has unfairly used its monopoly position as a manufacturer of baseband processors.

The price of crude oil climbed on Tuesday, helping the S&P 500's energy sector (+0.4%) finish near the top of the sector standings. WTI crude futures finished the session higher by 0.4%, at a price of $54.35/bbl--which marks the commodity's best close since late February. Over the last three weeks, WTI crude has climbed more than 10.0%.

Conversely, health care stocks struggled, with Mylan (MYL 35.71, -2.53) leading the retreat. The pharmaceutical company plunged 6.6% after Bloomberg reported that executive Rajiv Malik is the target of a multi-state investigation into generic drug price collusion. Pfizer (PFE 35.06, -0.09) also underperformed, slipping 0.3%, despite reporting above-consensus third quarter earnings.

The heavily-weighted financial sector (-0.3%) also moved lower, as did the industrials (-0.4%) and consumer discretionary (-0.1%) groups. Within the consumer discretionary space, Under Armour (UAA 12.52, -3.89) was by far the weakest performer, plunging 23.7%, after cutting its outlook for the full year and reporting its first quarterly fall in revenue since going public back in 2005.

Outside the equity market, U.S. Treasuries finished modestly lower, with shorter-dated issues showing particular weakness; the yield on the benchmark 10-yr Treasury note climbed one basis point to 2.38%, while the 2-yr yield jumped three basis points to 1.59%. Meanwhile, the U.S. Dollar Index climbed 0.1% to 94.44.

The Federal Open Market Committee began a two-day policy meeting on Tuesday, but its latest policy directive--which will be released on Wednesday afternoon--is not expected to do much more than set the stage for a December rate hike. The CME FedWatch Tool currently places the chances of a December rate hike at 99.5%.

Reviewing Tuesday's economic data, which included the third quarter Employment Cost Index, the October Chicago PMI, October Consumer Confidence, and the August S&P Case-Shiller Home Price Index:

The third quarter Employment Cost Index rose 0.7%, while the Briefing.com consensus expected an increase of 0.6%.

The key takeaway is that there was a slight pickup in compensation costs in the third quarter, but not enough to trigger any undue inflation alarm.

Chicago PMI for October hit 66.2 (Briefing.com consensus 61.0), up from 65.2 in September.

The key takeaway from the report is that manufacturing conditions are strong in the Chicago Fed region, underscored by the New Orders Index hitting its highest level (69.9) since June and the second highest since May 2014.

The consumer confidence reading for October increased to 125.9 from the prior month's revised reading of 120.6 (from 119.8). The Briefing.com consensus expected the survey to hit 121.5.

The key takeaway from the report is that upbeat attitudes about the current job market factored prominently in the elevated reading, which is a hopeful indication for stronger consumer spending activity.

The Case-Shiller 20-city Index increased 5.9% in August.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00 ET, the October ADP Employment Change Report (Briefing.com consensus 215K) at 8:15 ET, the October ISM Index (Briefing.com consensus 59.0) at 10:00 ET, September Construction Spending (Briefing.com consensus -0.2%) also at 10:00 ET, and the latest FOMC policy decision at 14:00 ET.

In addition, auto and truck sales for the month of October will be released throughout the day, and the House is scheduled to release its tax reform bill.

Nasdaq Composite +25.0% YTD
Dow Jones Industrial Average +18.3% YTD
S&P 500 +15.0% YTD
Russell 2000 +10.7% YTD

Dow: +28.50… | Nasdaq: +28.71… | S&P: +2.43…

NASDAQ Adv/Dec 1753/1001. …NYSE Adv/Dec 1840/1106.

03:35PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.05% at 86.1882
Dollar index is currently down 0.05% at 94.51
Oct WTI Crude is up 0.37% on the day.
Futures settle $0.2 higher to $54.35/barrel.
In other energy, Nov Natural Gas settled down $0.07 at $2.9/MMBtu
On the metals:
Dec Gold lost $7 to settle at $1270.7/oz, while Dec silver lost $0.15 to $16.7/oz
Dec Copper dropped $0.01 to $3.1/lb
Finally, agriculture:
Dec Corn settled down $0.01 at $3.45/bu.
Nov Soy settled down $0.11 at $9.74/bu.
Dec Wheat settled up $0.01 at $4.2/bu.

Dow: +31.67… | Nasdaq: +31.98… | S&P: +2.72…

NASDAQ Adv/Dec 1788/1001. …NYSE Adv/Dec 1876/1066.

03:00PM ET

[BRIEFING.COM] All three major indices are poised to end today's session in the green, but the Nasdaq (+0.5%) is the only index on track to post a new record close.

Most sectors are trading in positive territory moving into the final stretch. The consumer staples space (+0.9%) continues to lead, followed by the technology (+0.4%) and energy (+0.4%) spaces, which are tied for second place in the sector standings. On the flip side, the health care (-0.2%), financials (-0.1%), and industrials (-0.2%) groups are the weakest sectors.

On the earnings front, Electronic Arts (EA 118.25, +0.67) is one of few notable companies scheduled to report this afternoon and will be followed by Allergan (AGN 176.38, -2.26) and Honda Motor (HMC 31.10, 0.00) on Wednesday morning.

Dow: +39.38… | Nasdaq: +33.16… | S&P: +4.00…

NASDAQ Adv/Dec 1898/974. …NYSE Adv/Dec 1867/1068.

02:30PM ET

[BRIEFING.COM] The major averages have climbed slightly higher in recent action. The Nasdaq now trades 0.6% above its unchanged mark.

WTI crude futures have been ticking higher over the last few hours and currently hover at fresh session highs, up 0.7% at $54.53/bbl. Today's advance places the commodity at its best level since July 2015 and extends its three-week gain to 10.4%. The recent rally has been fueled by statements from senior OPEC and non-OPEC officials that suggest the current supply cut agreement will likely be extended beyond its current end date of March 2018.

The energy sector (+0.4%) has moved higher in tandem with the price of crude oil and also hovers at a fresh session high. Dow component Chevron (CVX 115.45, +1.05) outperforms, sporting a gain of 0.9%.

Dow: +36.45… | Nasdaq: +37.52… | S&P: +4.81…

NASDAQ Adv/Dec 1874/981. …NYSE Adv/Dec 1808/1105.

02:00PM ET

[BRIEFING.COM] The major averages continue trending sideways this afternoon, with the S&P 500 sporting a gain of 0.1%.

Under Armour (UAA 13.43, -2.97) has plunged 18.1% in today's session after the company cut its outlook for the full year and reported its first quarterly fall in revenue since going public back in 2005. Today's decline leaves UAA shares at their worst level in over four years and extends the company's year-to-date loss to 53.8%.

The S&P 500's consumer discretionary sector (-0.1%), which houses Under Armour, trades a step below the broader market. The group's top component by market cap--Amazon (AMZN 1005.77, -5.08)--is down 0.5% today following a two-session rally--during which the online retail giant surged 14.2%.

Dow: +25.14… | Nasdaq: +31.72… | S&P: +4.01…

NASDAQ Adv/Dec 1823/1049. …NYSE Adv/Dec 1776/1127.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to trade sideways, as stocks stall in positive territory.

A look inside the Dow Jones Industrial Average shows that Intel (INTC 45.46, +1.09), Apple (AAPL 168.73, +2.01), & Merck & Co. (MRK 55.25, +0.54) are outperforming.

Conversely, General Electric (GE 20.18, -0.23) is the worst-performing Dow component as shares see continued weakness in the wake of third quarter financial results.

As Wall Street sees a modest recovery from yesterday's pullback, the DJIA is poised at current levels to finish October with gains of 4.3%.

Dow: +20.64… | Nasdaq: +26.27… | S&P: +3.35…

NASDAQ Adv/Dec 1769/1095. …NYSE Adv/Dec 1737/1162.

01:00PM ET

[BRIEFING.COM] The stock market has been trending sideways today, leaving the major indices roughly where they opened today's session--a tick above their unchanged marks. The tech-heavy Nasdaq (+0.3%) outperforms the S&P 500 (+0.1%) and the Dow (+0.1%), but still sits a ways below the small-cap Russell 2000 (+0.6%), which has bounced back from Monday's sell off.

Consumer staples have been rallying today, underpinned by better-than-expected earnings and revenues from both Mondelez International (MDLZ 41.52, +2.22)--the owner of brands like Oreo, Trident, and Chips Ahoy!--and Kellogg (K 61.88, +3.01)--which houses brands like Froot Loops and Pringles. The two companies are up 5.8% and 5.1%, respectively, while the S&P 500's consumer staples sector sports a gain of 0.8%.

The top-weighted technology sector (+0.4%) also trades ahead of the broader market. Within the group, Dow component Intel (INTC 45.44, +1.07) is among the top performers, up 2.4%, following a Wall Street Journal report that Apple (AAPL 168.77, +2.05) could use the chipmaker's hardware, instead of Qualcomm's (QCOM 50.74, -3.92), in future iPhones and iPads. QCOM shares have naturally had a negative reaction to the report, dropping 7.2%.

At the opposite end of the sector standings, the health care group holds a loss of 0.3%. Pharmaceutical company Mylan (MYL 35.26, -2.98) is among the weakest components within the group, showing a loss of 7.6%, after Bloomberg reported that president Rajiv Malik is the target of an investigation into alleged generic drug price collusion. Meanwhile, Dow component Pfizer (PFE 34.88, -0.27) has lost 0.8%, despite beating earnings estimates this morning.

Outside the equity market, U.S. Treasuries continue to trade mostly flat this afternoon, with shorter-dated issues showing relative weakness. The yield on the benchmark 10-yr Treasury note is unchanged at 2.37%, while the 2-yr yield is up three basis points at 1.59%. The U.S. Dollar Index is up 0.1% at 94.45.

Also of note, CME Group announced its plan to launch a futures contract based on bitcoin before the year's end. The proposed action would mark a major step in the digital currency's quest to become more mainstream.

Reviewing Tuesday's economic data, which included the third quarter Employment Cost Index, the October Chicago PMI, October Consumer Confidence, and the August S&P Case-Shiller Home Price Index:

The third quarter Employment Cost Index rose 0.7%, while the Briefing.com consensus expected an increase of 0.6%.
The key takeaway is that there was a slight pickup in compensation costs in the third quarter, but not enough to trigger any undue inflation alarm.
Chicago PMI for October hit 66.2 (Briefing.com consensus 61.0), up from 65.2 in September.
The key takeaway from the report is that manufacturing conditions are strong in the Chicago Fed region, underscored by the New Orders Index hitting its highest level (69.9) since June and the second highest since May 2014.
The consumer confidence reading for October increased to 125.9 from the prior month's revised reading of 120.6 (from 119.8). The Briefing.com consensus expected the survey to hit 121.5.
The key takeaway from the report is that upbeat attitudes about the current job market factored prominently in the elevated reading, which is a hopeful indication for stronger consumer spending activity.
The Case-Shiller 20-city Index increased 5.9% in August.

Dow: +24.26… | Nasdaq: +27.62… | S&P: +3.79…

NASDAQ Adv/Dec 1807/1036. …NYSE Adv/Dec 1753/1138.

12:25PM ET

[BRIEFING.COM] The major indices have not changed since the last update, with the small-cap Russell 2000 (+0.7%) showing relative strength.

Eight sectors are currently trading in positive territory--consumer staples (+0.8%), telecom services (+0.5%), technology (+0.3%), materials (+0.3%), energy (+0.3%), financials (+0.1%), industrials (+0.1%), and utilities (unch)--while three groups are trading in the red--consumer discretionary (-0.1%), real estate (-0.1%), and health care (-0.3%).

In the bond market, U.S. Treasuries continue to trade mostly flat this afternoon, with shorter-dated issues showing relative weakness. The yield on the benchmark 10-yr Treasury note is unchanged at 2.37%, while the 2-yr yield is up three basis points at 1.59%. Yields move inversely to prices.

Dow: +31.25… | Nasdaq: +19.83… | S&P: +3.46…

NASDAQ Adv/Dec 1773/1071. …NYSE Adv/Dec 1751/1114.

11:55AM ET

[BRIEFING.COM] Equity indices continue to hover modestly above their unchanged marks moving into the afternoon session. The Nasdaq is up 0.4%, while the S&P 500 and the Dow hold gains of 0.1% apiece.

The S&P 500's health care sector (-0.3%) is hovering at the very bottom of today's sector standings amid broad weakness. Within the group, Mylan (MYL 35.54, -2.74) has plunged 7.0% following headlines that the company's second-ranking executive, Rajiv Malik, is the target of an investigation related to price collusion. Meanwhile, Dow component Pfizer (PFE 34.89, -0.25) is also trading in the red, down 0.7%, despite reporting better-than-expected earnings and raising its guidance slightly for fiscal year 2017.

For the month, the health care sector has dropped 0.9%, while the S&P 500 has added 2.3%. The recent underperformance has knocked the group out of second place on the 2017 leaderboard, a spot that it has held for much of the year.

Dow: +16.27… | Nasdaq: +27.27… | S&P: +3.60…

NASDAQ Adv/Dec 1796/1036. …NYSE Adv/Dec 1748/1093.

11:25AM ET

[BRIEFING.COM] Stocks have been ticking higher as of late, pushing the major indices to fresh session highs. The tech-heavy Nasdaq is leading its peers with a gain of 0.4%.

The top-weighted technology sector (+0.3%) is outperforming the broader market slightly this morning, thanks in part to chipmakers, which have sent the PHLX Semiconductor Index higher by 1.0%. Within the semiconductor subgroup, Intel (INTC 45.60, +1.22) shows particular strength, up 2.7%, following a Wall Street Journal report that Apple (AAPL 169.00, +2.20) may use the chipmaker's products in future iPhones and iPads, instead of Qualcomm's (QCOM 51.21, -3.43). Conversely, QCOM shares are down 6.2%.

Only three of the eleven sectors are currently trading in the red--industrials (-0.2%), health care (-0.3%), and real estate (-0.2%).

Dow: +30.53… | Nasdaq: +27.12… | S&P: +4.02…

NASDAQ Adv/Dec 1827/992. …NYSE Adv/Dec 1769/1041.

10:55AM ET

[BRIEFING.COM] The stock market has returned to its opening level after slipping earlier in the session; the S&P 500 holds a slim gain of 0.1%.

Most of the S&P 500's 11 sectors are trading relatively flat this morning, showing gains/losses of no more than 0.4%. The only exceptions are the consumer staples space--which is up 0.6%--and the lightly-weighted real estate group--which is down 0.6%. Within the consumer staples group, Mondelez International (MDLZ 41.48, +2.18) and Kellogg (K 62.74, +3.87) are the top performers, sporting respective gains of 5.6% and 6.7%, after both companies reported better-than-expected earnings and revenues this morning.

Meanwhile, within the real estate space, GGP (GGP 18.97, -0.98) is the weakest performer, losing 4.8%, despite beating revenue estimates and reporting in-line funds from operations (FFO). Today's slide places the retail real estate company at its lowest level in four years.

Dow: +14.75… | Nasdaq: +23.32… | S&P: +2.77…

NASDAQ Adv/Dec 1858/905. …NYSE Adv/Dec 1703/1082.

10:30AM ET

[BRIEFING.COM] Commodities begin the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.31% at 85.8787
Dollar index is currently up 0.06% at 94.62
Dec WTI crude is down 0.09% on the day.
API inventory data will be released at 4:30 pm ET
Futures are $0.05 lower to $54.10/barrel.
In other energy, Nov natural gas is down $0.05 at $2.92/MMBtu
Metals:
Dec gold lost $7.40 and trades at $1270.30/oz, while Dec silver lost $0.16 to $16.69/oz
Dec copper dropped 0.01 to $3.10/lb
Finally, agriculture:
Dec corn is down $0.03 at $3.46/bu.
Nov soy is down $0.03 at $9.825/bu.
Dec wheat is down $0.06 at $4.19/bu.

Dow: +7.67… | Nasdaq: +15.08… | S&P: +1.5…

NASDAQ Adv/Dec 1697/1067. …NYSE Adv/Dec 1617/1147.

10:05AM ET

[BRIEFING.COM] The major indices have slipped from their opening levels; the S&P 500 now trades flat.

Just in, the consumer confidence reading for October increased to 125.9 from the prior month's revised reading of 120.6 (from 119.8). The Briefing.com consensus expected the survey to hit 121.5.

Dow: -10.20… | Nasdaq: +10.12… | S&P: +0.15…

NASDAQ Adv/Dec 1706/970. …NYSE Adv/Dec 1564/1133.

09:45AM ET

[BRIEFING.COM] The major U.S. indices are trading modestly higher in the opening minutes of today's session, with the S&P 500 sporting a gain of 0.1%.

Most sectors are trading relatively flat this morning. However, the consumer staples space holds a sizable gain of 0.6%, thanks to better-than-expected earnings from Mondelez International (MDLZ 41.77, +2.48) and Kellogg (K 63.50, +4.61), which are up 6.3% and 7.8%, respectively. On the flip side, the real estate group is the weakest sector, showing a loss of 0.5%.

Just reported, Chicago PMI for October hit 66.2 (Briefing.com consensus 61.0), up from 65.2 in September.

Dow: +3.54… | Nasdaq: +21.47… | S&P: +2.71…

NASDAQ Adv/Dec 1776/845. …NYSE Adv/Dec 1675/958.

09:11AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +20.00.

The stock market is on track to open Tuesday's session modestly higher as the S&P 500 futures currently trade three points, or 0.1%, above fair value.

In earnings news, Under Armour (UAA 13.47, -2.93) has dropped 17.9%, and is poised to open at its lowest level in over four years, after missing revenue estimates and cutting its earnings guidance in half. Meanwhile, Qualcomm (QCOM 52.55, -2.11) is also trading solidly lower in pre-market action, down 3.9%, after the Wall Street Journal reported that Apple (AAPL 168.22, +1.50) is considering dropping QCOM components from future iPhones and iPads.

On a positive note, Mondelez International (MDLZ 42.55, +3.25) has surged 8.4% after reporting better-than-expected earnings and revenues, while Kellogg (K 61.49, +2.62) is trading higher by 4.5% after also beating both top and bottom line estimates. The two companies' solid pre-market gains will likely give the S&P 500's consumer staples sector a boost at the start of today's session.

As for economic data, the third quarter Employment Cost Index rose 0.7% (Briefing.com consensus +0.6%), while the August Case-Shiller 20-city Index increased 5.9%. Today's last pieces of economic data--the October Chicago PMI (Briefing.com consensus 61.0) and October Consumer Confidence (Briefing.com consensus 121.5)--will be released at 9:45 ET and 10:00 ET, respectively.

U.S. Treasuries are mostly flat this morning, with shorter-dated issues showing relative weakness; the yield on the benchmark 10-yr Treasury note is unchanged at 2.37%, while the 2-yr yield is up two basis points at 1.58%. Meanwhile, the U.S. Dollar Index is up 0.2% at 94.53.

The Fed will kick off a two-day meeting this morning, with its latest policy decision scheduled to cross the wires tomorrow afternoon. The market isn't anticipating a rate hike.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +18.50.

The S&P 500 futures trade three points, or 0.1%, above fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. Reports from China indicate that the People's Bank of China may launch a medium-term lending facility at the end of this week. New Zealand's Prime Minister Jacinda Ardern reiterated her intent to ban foreigners from buying existing homes. The Bank of Japan left its interest rate on excess reserves unchanged at -0.1%, as expected. The central bank lowered its inflation forecast for the fiscal year to 0.8% from 1.1% despite constant reassurances from policymakers that meeting the inflation target is 'just around the corner.' BoJ Governor Haruhiko Kuroda blamed the revision on lower prices of mobile phones.

In economic data:
China's October Manufacturing PMI 51.6 (expected 52.0; last 52.4) and October Non-Manufacturing PMI 54.3 (last 55.4)
Japan's September Industrial Production -1.1% month-over-month (expected -1.5%: last 2.0%). September Household Spending +0.4% month-over-month (expected 0.1%; last 0.2%); -0.3% year-over-year (consensus 0.7%; last 0.6%). September Unemployment Rate held at 2.8%, as expected. September Housing Starts -2.9% year-over-year (consensus -3.6%; last -2.0%)
Australia's September HIA New Home Sales -6.1% month-over-month (last 9.1%) and September Private Sector Credit +0.3% month-over-month (expected 0.5%; last 0.5%)
New Zealand's October ANZ Business Confidence -10.1 (last 0.0) and September Business Consents -2.3% month-over-month (last 5.9%)
South Korea's September Industrial Production +0.1% month-over-month (expected 2.4%; last 0.4%); +8.4% year-over-year (consensus 4.7%; last 2.7%)
Hong Kong's September M3 Money Supply +13.2% (last 13.1%)

---Equity Markets---

Japan's Nikkei settled flat. Ricoh, Kao, Softbank, SUMCO, Nippon Express, Komatsu, Bridgestone, and Sony Financial Holdings lost between 1.9% and 7.3% while JTEKT, Okuma, TDK, Alps Electric, Denso, Nitto Denko, and Dainippon Screen Manufacturing posted gains between 2.7% and 7.0%.
Hong Kong's Hang Seng shed 0.3% with financials showing relative weakness. Bank of China, BoC Hong Kong, ICBC, HSBC, Bank of East Asia, and Hang Seng Bank posted losses between 0.3% and 3.5%.
China's Shanghai Composite added 0.1%. Shanghai Jinjiang International Hotels Development, Jiangsu Changjiang Electronics Technology, Shanghai Lingang Holdings, and YUD Yangtze River Investment Industry gained between 6.2% and 8.7%.
India's Sensex shed 0.2%. Infosys lost 2.4% while financials like SBI, HDFC Bank, and ICICI Bank posted losses between 0.2% and 2.0%.

Major European indices trade slightly above their flat lines while Spain's IBEX (+0.8%) outperforms for the second consecutive day. Separatist parties in Catalonia appear ready to accept a regional election, which was called by Spain's Prime Minister Mariano Rajoy. Catalan President Carles Puigdemont remains in Brussels. Markets in Germany are closed for Reformation Day.

In economic data:
Eurozone Q3 GDP +0.6% quarter-over-quarter, as expected (last 0.6%); +2.5% year-over-year (expected 2.1%; last 2.1%). September Unemployment Rate 8.9% (expected 9.0%; last 9.0%). October CPI +1.4% year-over-year (expected 1.5%; last 1.5%) and Core CPI +0.9% year-over-year (consensus 1.1%; last 1.1%)
Italy's October CPI -0.2% month-over-month (expected -0.1%; last -0.3%); +1.0% year-over-year (expected 1.3%; last 1.1%). September Unemployment Rate 11.1%, as expected (last 11.1%). September PPI +0.3% (last 0.5%); +2.0% year-over-year (last 1.6%)
France's Q2 GDP +0.5% quarter-over-quarter, as expected (last 0.5%). September Consumer Spending +0.9% month-over-month (expected 0.5%; last -0.2%). October CPI +0.1% month-over-month, as expected (last -0.2%)

---Equity Markets---

Germany's DAX is closed.
UK's FTSE is up 0.1% with roughly half of its components in the green. EasyJet, BP, Segro, Severn Trent, Unilever, and Shire lead with gains between 1.0% and 2.6%.
France's CAC has added 0.2%. Airbus Group has spiked 4.0% after beating earnings expectations while consumer names like Carrefour, Vivendi, Danone, Accor, and L'Oreal are up between 0.5% and 1.4%. Financials lag with BNP Paribas, Societe Generale, and Credit Agricole down between 1.1% and 3.3%.
Spain's IBEX has climbed 0.8% to levels from early August. Banco Sabadell, BBVA, Caixabank, and Santander show gains between 1.7% and 1.9%.

08:30AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +20.60.

The S&P 500 futures trade three points, or 0.1%, above fair value.

Just in, the third quarter Employment Cost Index rose 0.7%, while the Briefing.com consensus expected an increase of 0.6%.

07:58AM ET

[BRIEFING.COM] S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +15.90.

Stocks slipped from record highs on Monday, but look poised to reclaim a portion of their losses at today's opening bell. The S&P 500 futures are currently trading three points, or 0.1%, above fair value.

The Federal Open Market Committee (FOMC) will kick off a two-day meeting this morning, with its latest policy decision scheduled to cross the wires tomorrow afternoon. The market doesn't believe that the Fed will announce a rate hike at this meeting, but it is fully expecting a rate hike at the December meeting. Tomorrow's policy statement will likely help validate that belief.

On a related note, reports indicate that Fed Governor Jerome Powell will be President Trump's Fed Chair nominee. The president is expected to announce his decision on Thursday.

Investors will receive several pieces of economic data this morning, including the third quarter Employment Cost Index (Briefing.com consensus 0.6%) at 8:30 ET, the August S&P Case-Shiller Home Price Index (Briefing.com consensus 5.9%) at 9:00 ET, the October Chicago PMI (Briefing.com consensus 61.0) at 9:45 ET, and October Consumer Confidence (Briefing.com consensus 121.5) at 10:00 ET.

U.S. Treasuries are trading modestly lower across the curve, giving back some of Monday's gains. The yield on the benchmark 10-yr Treasury note is up one basis point at 2.38%. Meanwhile, the U.S. Dollar Index is up 0.2% at 94.52 and WTI crude futures are down 0.2% at $54.07/bbl.

In U.S. corporate news:

Pfizer (PFE 35.25, +0.10): +0.3% after reporting above-consensus earnings and slightly raising its guidance for fiscal year 2017.
Qualcomm (QCOM 51.61, -3.05): -5.6% following a Wall Street Journal report that Apple (AAPL 167.50, +0.78) may drop QCOM components from future iPhones and iPads.
Mondelez International (MDLZ 41.59, +2.29): +5.8% after reporting above-consensus earnings and revenues.
Under Armour (UAA 13.52, -2.89): -17.6% after missing revenue estimates and lowering its outlook for the full fiscal year.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. Japan's Nikkei unch, Hong Kong's Hang Seng -0.3%, China's Shanghai Composite +0.1%, India's Sensex -0.2%.
In economic data:
China's October Manufacturing PMI 51.6 (expected 52.0; last 52.4) and October Non-Manufacturing PMI 54.3 (last 55.4)
Japan's September Industrial Production -1.1% month-over-month (expected -1.5%: last 2.0%). September Household Spending +0.4% month-over-month (expected 0.1%; last 0.2%); -0.3% year-over-year (consensus 0.7%; last 0.6%). September Unemployment Rate held at 2.8%, as expected. September Housing Starts -2.9% year-over-year (consensus -3.6%; last -2.0%)
Australia's September HIA New Home Sales -6.1% month-over-month (last 9.1%) and September Private Sector Credit +0.3% month-over-month (expected 0.5%; last 0.5%)
New Zealand's October ANZ Business Confidence -10.1 (last 0.0) and September Business Consents -2.3% month-over-month (last 5.9%)
South Korea's September Industrial Production +0.1% month-over-month (expected 2.4%; last 0.4%); +8.4% year-over-year (consensus 4.7%; last 2.7%)
Hong Kong's September M3 Money Supply +13.2% (last 13.1%)
In news:
Reports from China indicate that the People's Bank of China may launch a medium-term lending facility at the end of this week.
New Zealand's Prime Minister Jacinda Ardern reiterated her intent to ban foreigners from buying existing homes.
The Bank of Japan left its interest rate on excess reserves unchanged at -0.1%, as expected. The central bank lowered its inflation forecast for the fiscal year to 0.8% from 1.1% despite constant reassurances from policymakers that meeting the inflation target is 'just around the corner.' BoJ Governor Haruhiko Kuroda blamed the revision on lower prices of mobile phones.

Major European indices trade near their flat lines while Spain's IBEX (+1.1%) outperforms for the second consecutive day. Markets in Germany are closed for Reformation Day. UK's FTSE +0.1%, France's CAC +0.1%.
In economic data:
Eurozone Q3 GDP +0.6% quarter-over-quarter, as expected (last 0.6%); +2.5% year-over-year (expected 2.1%; last 2.1%). September Unemployment Rate 8.9% (expected 9.0%; last 9.0%). October CPI +1.4% year-over-year (expected 1.5%; last 1.5%) and Core CPI +0.9% year-over-year (consensus 1.1%; last 1.1%)
Italy's October CPI -0.2% month-over-month (expected -0.1%; last -0.3%); +1.0% year-over-year (expected 1.3%; last 1.1%). September Unemployment Rate 11.1%, as expected (last 11.1%). September PPI +0.3% (last 0.5%); +2.0% year-over-year (last 1.6%)
France's Q2 GDP +0.5% quarter-over-quarter, as expected (last 0.5%). September Consumer Spending +0.9% month-over-month (expected 0.5%; last -0.2%). October CPI +0.1% month-over-month, as expected (last -0.2%)
In news:
Separatist parties in Catalonia appear ready to accept a regional election, which was called by Spain's Prime Minister Mariano Rajoy. Catalan President Carles Puigdemont remains in Brussels.

05:52AM ET

[BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +12.60.
05:52AM ET

[BRIEFING.COM] Nikkei...22012...-0.10...0.00

Hang Seng...28245.54...-90.70...-0.30%

05:52AM ET

[BRIEFING.COM] FTSE...7514.83...+27.00...+0.40%

DAX...13229.57...+12.00...+0.10%

04:30PM ET

[BRIEFING.COM] The U.S. equity market retreated from record highs on Monday as investors engaged in a little profit taking ahead of another busy week. The Nasdaq touched a new record high early in the session, but eventually settled just a tick below its flat line. The S&P 500 and the Dow finished with respective losses of 0.3% and 0.4%, while the small-cap Russell 2000 underperformed, dropping 1.2%.

After opening modestly lower, the stock market looked as if it might take a stab at another record high, but a Bloomberg report that the House is considering a gradual phase-in approach for reducing the corporate tax rate prompted a sharp, but modest, sell off. The White House later said that President Trump does not support a phase-in approach, but equities continued trending sideways at session lows.

Telecoms paced Monday's retreat after the Nikkei Asian Review reported that Sprint's (S 6.34, -0.65) parent company, SoftBank, plans to end merger talks between Sprint and T-Mobile US (TMUS 59.58, -3.37). The two wireless names moved sharply lower following the report, but pared some of their losses after CNBC's David Faber said parts of the report were untrue.

Still, the two companies finished solidly lower, dropping 9.3% and 5.4%, respectively, and the S&P 500's telecom services sector lost 1.4%.

The health care sector (-1.1%) also struggled on Monday, with Dow component Merck (MRK 54.71, -3.53) showing particular weakness. The pharmaceutical giant tumbled 6.1% after announcing on Friday that it withdrew its European application for its cancer drug Keytruda. Morgan Stanley, Barclays, and SunTrust each downgraded the company following the announcement.

On a positive note, Apple (AAPL 166.72, +3.67) climbed 2.3% to settle at a fresh record high. The tech giant has added 5.9% over the last two sessions after the company announced that demand for its new iPhone X has been "off the charts" and following upbeat earnings from fellow mega caps Amazon (AMZN 1110.85, +9.90), Microsoft (MSFT 83.89, +0.08), and Alphabet (GOOG 1017.11, -2.16).

Apple, which is the largest company in the S&P 500 by market cap, will report earnings on Thursday evening.

In the bond market, U.S. Treasuries ended Monday with solid gains, erasing their losses from last week; the yield on the benchmark 10-yr Treasury note dropped five basis points to 2.37%. News of a potential phase-in approach for reducing the corporate tax rate (as mentioned above) and another lukewarm reading for the PCE Price Index helped fuel the rally.

Reviewing Monday's economic data, which included September Personal Income, Personal Spending, and PCE Prices:

Personal income ticked up 0.4% in September (Briefing.com consensus +0.3%) following an unrevised increase of 0.2% in August. Personal spending rose 1.0% (Briefing.com consensus +0.8%), while the prior month's uptick was left unrevised at 0.1%. The PCE Price Index jumped 0.4% (Briefing.com consensus +0.4%), while the core PCE Price Index--which excludes food and energy--increased 0.1% (Briefing.com consensus +0.1%). The PCE Price Index is the Fed's preferred inflation gauge.

The September increases, the PCE Price Index is up 1.6% year-over-year, versus up 1.4% for August, while the core PCE Price Index is up 1.3%, unchanged from August. The key takeaway is that the PCE price data won't trigger any major inflation alarm, yet it also won't be seen as persuading the Fed from raising the fed funds rate at its December meeting.

On Tuesday, investors will receive several pieces of data, including the third quarter Employment Cost Index (Briefing.com consensus 0.6%) at 8:30 ET, the August S&P Case-Shiller Home Price Index (Briefing.com consensus 5.9%) at 9:00 ET, the October Chicago PMI (Briefing.com consensus 61.0) at 9:45 ET, and October Consumer Confidence (Briefing.com consensus 121.5) at 10:00 ET.

Nasdaq Composite +24.4% YTD
Dow Jones Industrial Average +18.2% YTD
S&P 500 +14.9% YTD
Russell 2000 +9.9% YTD

Dow: -85.45… | Nasdaq: -2.30… | S&P: -8.24…

NASDAQ Adv/Dec 917/1724. …NYSE Adv/Dec 1141/1795.

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

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