TheStrategyLab.com Price Action Trading Support Forum

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
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
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)


Price Action Trade Performance for Today: Emini TF ($TF_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.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ 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: All of my live trades are posted real-time in the timestamp ##TheStrategyLab free chat room. The live trade is posted 3.2 seconds on average after the trade confirmation via an auto script to minimize delays in posting of my trades. You can read 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), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=160&t=2452

The free chat room is not a signal calling trading room. 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 the free chat room is for you to use as your trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. Also, you can use the free chat room to ask real-time WRB Analysis questions. Yet, please do not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for security reasons. The free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages and many different types of social media software can be used to log in. I'm the moderator of the free chat room. Thus, I keep the peace between members and I keep out the trouble makers so that members can peacefully post their observations about the markets, trades and WRB Analysis commentary.


Also, posted below 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.

##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling trading room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

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=312&t=3290 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 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


4:20 pm: [BRIEFING.COM] The stock market closed the week on a higher note, with the S&P 500 and the Nasdaq finishing Friday's session higher by 0.4% and 0.6%, respectively. The Dow (+0.3%) finished the day 34 points shy of the elusive 20k mark after coming within one point of the milestone early Friday afternoon.

Equity indices started the day flat after the December Employment Situation report was met with a muted reaction from investors. The stock market picked up the pace about an hour into the session, trending upwards to a record intraday high where it remained until the closing bell.

Friday's release of the December Employment Situation report alluded to the fact that the labor market is approaching full employment; job growth is slowing, while wages are ticking up. Time will tell if the Fed sticks to their proposed rate-hike schedule, which calls for three rate hikes in 2017, but the Employment Situation report certainly didn't reveal anything that would suggest a change of plans.

Today's rally was led by the technology sector (+1.0%), which was aided by chipmakers and large cap components. For instance, Apple (AAPL 117.91, +1.30), Microsoft (MSFT 62.84, +0.54), Facebook (FB 123.41, +2.74), Alphabet (GOOGL 825.21, +12.19), and Visa (V 82.21, +1.12) all added between 0.9% and 2.3%, while the PHLX Semiconductor Index finished higher by 0.8%.

Cyclical sectors did slightly better than their defensive counterparts, with three of the six growth-sensitive sectors beating the benchmark index. Utilities (+0.3%) and health care (+0.3%) were the only non-cyclical sectors to perform in line with the broader market. Health care capitalized on the biotech industry's solid showing, evidenced by the 0.9% increase in the iShares Nasdaq Biotechnology ETF (IBB 280.65, +2.54). Telecom services (-2.7%) and real estate (unch) were the only sectors to finish in the red.

Standings for the week look much the same as ten out of eleven sectors finished the week higher, with telecom services (-1.2%) bucking the trend. The week's top performer was health care (+2.9%), followed closely by real estate (+2.2%), technology (+2.4%), and consumer discretionary (+2.3%). The consumer discretionary sector's gain was particularly impressive as the sector had to overcome a poor week from retailers. The SPDR S&P 500 Retail ETF (XRT 43.76, -0.26) finished the first week of 2017 lower by 0.7% after some of its components reported disappointing holiday sales.

Conversely, small caps ended the week on a down note as the Russell 2000 fell 0.4% in Friday's session. On the week, the small-cap index added 0.7%, but underperformed relative to the S&P 500's and the Nasdaq's respective, 1.7% and 2.6% week-to-date gains. Given that the domestically-focused Russell 2000 set the pace for the post-election rally, investors may be concerned about the index's recent struggle.

The Treasury market saw stepped-up selling pressure after the 8:30 ET release of the Employment Situation report for December, but cooled off afterwards. The 10-yr yield closed the day seven basis points higher at 2.42%.

Reviewing today's economic data:

Employment Situation Report
December nonfarm payrolls came in at 156,000 while the Briefing.com consensus expected a reading of 175,000. The prior month's reading was revised to 204,000 from 178,000. Nonfarm private payrolls added 144,000 while the Briefing.com consensus expected an increase of 170,000. The unemployment rate held at 4.7% (Briefing.com consensus 4.7%).
Average hourly earnings increased 0.4% (Briefing.com consensus +0.3%). The average workweek was reported at 34.3 while the Briefing.com consensus expected a reading of 34.4.
The key takeaway from the December employment report is that job growth is slowing while wages are rising, which are offshoots of a labor market running near full employment.
November trade balance showed a deficit of $45.2 billion while the Briefing.com consensus expected the deficit to hit $42.2 billion. The previous month's deficit was revised to $42.4 billion from $42.6 billion.
The key takeaway from the report is that the widening deficit will be a drag on fourth quarter GDP, as the fourth quarter average of $61.9 billion for the real trade deficit is 9.4% higher than the third quarter average.
The Factory Orders Report for November showed a decrease of 2.4% while the Briefing.com consensus expected a decrease of 2.1%. The October reading was revised up to 2.8% from 2.7%.
The key takeaway from the report is that the drop in manufacturing orders was owed predominately to a large retreat in orders for the volatile nondefense aircraft and parts component. Excluding transportation, orders were up 0.1%.

Monday's economic data will be limited to the November Consumer Credit report, which will be released at 3:00 pm ET.

Nasdaq Composite +2.6% YTD
S&P 500 +1.7% YTD
Dow Jones Industrial Average +1.0% YTD
Russell 2000 +0.6% YTD

Week in Review: 2017 Begins on Higher Note

The stock market enjoyed an upbeat start to 2017, as theS&P 500 gained 1.7% during the abbreviated first week of the year. TheNasdaq Composite (+2.6%) outperformed while the Dow Jones Industrial Average (+1.0%)lagged.

The first two sessions of the week featured a steadyadvance, which placed the S&P 500 just below its record high from December.The two days of gains were followed by an intraday pullback on Thursday, butthe brief slip became a distant memory by day's end. However, it is worthnoting that the weak spell was brought on by cautious guidance from Kohl's (KSS) and Macy's (M). The two names registered respective losses of 19.0% and13.9%, while most other apparel names also struggled. Conversely, a daylong rallyin Amazon (AMZN) returned thediscretionary sector to little changed by Thursday's close.

On Friday, investors received the December EmploymentSituation Report. The report fit pretty well into the market's view of things,as the headline disappointment (156,000; Briefing.com consensus 175,000) wasoffset by a sizable revision to the November reading (to 204,000 from 178,000).Average hourly earnings rose 0.4% (Briefing.com consensus 0.3%) after declining0.1% in November. November average workweek was revised down to 34.3 from 34.4and the December reading remained at 34.3 (Briefing.com consensus 34.4).

Equity indices advanced to new record highs after the December jobs report whileTreasuries retreated, erasing a large portion of their gains from earlier inthe week. Despite the pullback, the benchmark 10-yr note eked out its thirdconsecutive weekly gain, pressuring its yield to 2.42% from last week's 2.45%.

The December jobs report gave a boost to the greenback, butthe U.S. Dollar Index could not avoid a lower close for the week, shedding 0.1%, despite setting a fresh 14-year high on Tuesday.

There was no significant shift in rate hike expectationsduring the past week. The fed funds futures market ended the week showing a69.0% implied likelihood of a rate hike in June.

3:30 pm: [BRIEFING.COM]

Crude oil rallied for the third consecutive session despite the US oil rig count hitting a 1-year high for the second consecutive week
Feb crude oil futures rose $0.20 (+0.4%) to $53.98/barrel
Rig count highlights:
The Baker Hughes total U.S. rig count increased by 7 to 665 rigs, following last week's increase of 5 rigs.
The US oil rig count increased by 4 to 529 rigs this week; up for the 10th consecutive week & at a 1-year high.
Contributing factors affecting the price of oil include:
Data this morning showed that US crude oil exports reached 597k barrels/day in Nov (vs 491k bpd in Oct).
Yesterday, EIA data showed that U.S. production of crude grew by 4k barrels a day.
This week, Saudi Arabia made good on its pledge by cutting its Jan daily production by 468k barrels.
Oil prices saw an initial lift this morning by the decision by Royal Dutch Shell to close down the 140k-barrel-a-day Trans-Niger Bonny Light pipeline. The co cited a fire as the reason for the shutdown, but the situation highlights the continuing struggle in Nigeria with attacks on the country's oil infrastructure.
Natural gas extended yesterday's post-EIA gains
Feb natural gas closed $0.01 higher (+0.3%) at $3.29/MMBtu
In precious metals, gold & silver ended near session lows on continued dollar index strength
Feb 2017 gold ended today's session down $10.40 (-0.9%) to $1173.20/oz
Mar 2017 silver closed today's session $0.13 lower (-0.8%) at $16.51/oz
The dollar index was +0.7% around the 102.20 level, weighing on precious metals
Commodities, as measured by the Bloomberg Commodity Index, were -0.2% around the 87.37 level

2:55 pm:

[BRIEFING.COM] The equity market has stalled after an early afternoon push, leaving the major averages hovering near their session highs. The S&P 500 is up 0.5% on the day, while the Nasdaq (+0.7%) has done modestly better.

Earlier today, a suspect opened fire at the Fort Lauderdale International Airport. Five people have been pronounced dead with eight others wounded, according to CNBC. The shooter was taken into custody, but the Federal Aviation Administration has warned of another active shooter situation [EDIT: latest reports indicate the second alert was brought on by chaos surrounding the situation rather than a second shooter]. Airlines have ticked down on the news, with Delta Air Lines (DAL 49.51, -0.22), Southwest Airlines (LUV 49.75, -0.71), United Continental (UAL 70.81, -0.12), and Alaska Air (ALK 86.76, -1.00) all down between 0.2% and 1.5%.

Crude oil ended its trading day higher by 0.4% at $53.98/bbl. The energy sector (+0.2%) shows a slimmer gain.

2:30 pm:

[BRIEFING.COM] Equity indices have nestled into narrow afternoon ranges just below their session highs. The S&P 500 (+0.6%) has spent the past two hours in a four-point range, looking to end the week at a fresh record high.

The December Employment Situation report was this week's most notable economic release and next week is shaping up to be pretty quiet on the economic front. Most notably, Friday will feature the release of December PPI and December Retail Sales. The Retail Sales report will be of particular interest, given the cautious commentary from the likes of Kohl's (KSS 41.45, -0.56) and Macy's (M 31.10, +0.24).

2:00 pm:

[BRIEFING.COM] Equity indices hover near their session highs, with the S&P 500 up 0.5%. The Dow is within ten points of the 20k mark after coming within one point of the milestone earlier today.

Ten of eleven sectors are in the green this afternoon. Technology (+1.0%) has set the pace, while the financial (+0.7%), industrial (+0.8%), and consumer discretionary (+0.7%) sectors also outperform the broader market. Non-cyclical sectors generally lag as telecom services (-2.8%) remain at the bottom of today's leaderboard.

The energy sector is higher by 0.2% as the group tracks today's uptick in crude oil. WTI crude is higher by 0.3% at $53.90/bbl, on track to add 0.3% for the week.

1:25 pm:

[BRIEFING.COM] The major averages hover near their best levels of the day with the S&P 500 up 0.5% to extend this week's gain to 1.8%.

Ten of eleven sectors are on track to register weekly gains with the health care sector (+0.5%) set to finish atop this week's leaderboard. The group is up 3.1% for the week, largely thanks to a 5.6% spike in the iShares Nasdaq Biotechnology ETF (IBB 280.34, +2.24). The biotech ETF is up 0.8% today and its strength has played a part in keeping the Nasdaq (+0.8%; week-to-date +2.8%) ahead of the broader market.

Treasuries have not done much in afternoon action after sliding this morning. The 10-yr yield is up six basis points at 2.41%, but remains four basis points below last week's settlement.

1:00 pm:

[BRIEFING.COM] The major averages recorded record intraday highs in recent action, as the Dow (+0.4%) sits 12 points shy of the 20k mark. The Nasdaq (+0.8%) outperforms, while the S&P 500 sits higher by 0.5%.

The December Employment Situation report, which was released at 8:30 ET, was the biggest focal point coming into Friday. The report revealed that job growth is slowing while wages are rising, which are offshoots of a labor market running near full employment. More time and more data will need to be seen to get a better feel for that rate-hike frequency factor, yet the December employment report certainly didn't do anything to diminish the market's current understanding that the Fed is projecting three rate hikes for 2017.

Most cyclical sectors have done well thus far, as five of the six are in positive territory. Technology (+1.0%) tops today's leaderboard, thanks to another positive showing from its top components like Apple (AAPL 118.10, +1.50) and Facebook (FB 123.54, +2.88), which are up 1.3% and 2.4%, respectively. Chipmakers are also having a solid day, pushing the PHLX Semiconductor Index higher by 0.9%.

Industrials (+0.8%), financials (+0.6%), and consumer discretionary (+0.7%) outperform, while energy (+0.1%) sits near its flat line. The energy space has ticked up with crude oil, as the commodity trades higher by 0.7% at $54.12/bbl. Also of note, the U.S. dollar has bounced back from yesterday's loss, with the U.S. Dollar Index (102.13, +0.74) higher by 0.7%.

Defensive sectors have come to life in recent action after posting losses early. Health care (+0.4%) is the top non-cyclical performer, amid a 0.6% gain in the iShares Nasdaq Biotechnology ETF (IBB 279.78, +1.68). The biotechnology industry has been carried by Amgen (AMGN 158.10, +5.13) as the stock has increased by 3.4% in reaction to a patent ruling that blocked Sanofi (SNY 40.45, -1.05) and Regeneron Pharmaceuticals (REGN 359.75, -21.08) from selling cholesterol drug Praluent.

Telecom services (-2.5%) are at the bottom of today's leaderboard, weighed down by sizable losses from AT&T (T 41.45, -0.71) and Verizon (VZ 53.30, -0.77). The two names are down 1.7% and 1.4%, respectively. AT&T's loss stems from increased resistance to the company's proposed merger with Time Warner (TWX 94.97, -0.12). The materials sector (-0.1%) is the only other space in negative territory.

The Treasury market saw stepped-up selling pressure after the 8:30 ET release of the Employment Situation report for December. Treasuries have remained stable since, with the 10-yr yield up seven basis points to 2.42%.

European indices also saw an uptick after the release, with the major averages finishing their trading days modestly higher after sitting below their flat lines prior to the release of the Employment Situation report.

Reviewing today's economic data:

Employment Situation Report
December nonfarm payrolls came in at 156,000 while the Briefing.com consensus expected a reading of 175,000. The prior month's reading was revised to 204,000 from 178,000. Nonfarm private payrolls added 144,000 while the Briefing.com consensus expected an increase of 170,000. The unemployment rate held at 4.7% (Briefing.com consensus 4.7%).
Average hourly earnings increased 0.4% (Briefing.com consensus +0.3%). The average workweek was reported at 34.3 while the Briefing.com consensus expected a reading of 34.4.
The key takeaway from the December employment report is that job growth is slowing while wages are rising, which are offshoots of a labor market running near full employment.
November trade balance showed a deficit of $45.2 billion while the Briefing.com consensus expected the deficit to hit $42.2 billion. The previous month's deficit was revised to $42.4 billion from $42.6 billion.
The key takeaway from the report is that the widening deficit will be a drag on fourth quarter GDP, as the fourth quarter average of $61.9 billion for the real trade deficit is 9.4% higher than the third quarter average.
The Factory Orders Report for November showed a decrease of 2.4% while the Briefing.com consensus expected a decrease of 2.1%. The October reading was revised up to 2.8% from 2.7%.
The key takeaway from the report is that the drop in manufacturing orders was owed predominately to a large retreat in orders for the volatile nondefense aircraft and parts component. Excluding transportation, orders were up 0.1%.

12:25 pm:

[BRIEFING.COM] The S&P 500 (+0.4%) and the Nasdaq (+0.7%) have hit record intraday highs in recent action, while the Dow (+0.3%) sits just 35 points shy of the elusive 20k mark.

Non-cyclical sectors have come to life after spending some time in the red earlier today. Health care (+0.3%) is up amid a 0.5% increase in the iShares Nasdaq Biotechnology ETF (IBB 279.48, +1.42), while the consumer staples (+0.1%), utilities (+0.2%), and real estate (+0.1%) sectors post modest gains. Telecom services (-2.5%) remain at the bottom of the leaderboard, plagued by big losses from AT&T (T 41.45, -0.71) and Verizon (VZ 53.30, -0.77). The two names are down 1.7% and 1.4%, respectively.

U.S. Treasuries have cooled off after seeing an uptick in selling pressure after the release of the Employment Situation report earlier today. The 10-yr yield is up six basis points to 2.41%.

11:55 am:

[BRIEFING.COM] The major averages have extended their gains with the S&P 500 (+0.4%) hitting a fresh record high.

The benchmark index dipped at the start, but the early downtick was erased promptly as the top-weighted technology sector (+0.8%) displayed relative strength. The tech space has extended this week's gain to 2.3% while other sectors have followed suit after a shaky open.

The consumer discretionary space (+0.7%) is also among the outperformers even though apparel retailers trade in mixed fashion. However, that has been more than offset by solid gains among the likes of Amazon (AMZN 792.64, +12.19), Netflix (NFLX 133.38, +1.57), and Priceline (PCLN 1520.11, +16.41). The three names are up between 1.1% and 1.6%.

11:30 am:

[BRIEFING.COM] The stock market continues its upward trend as the major indices have hit new session highs in recent action. The Nasdaq (+0.4%) maintains its lead over the benchmark S&P 500 (+0.2%) index.

Consumer discretionary (+0.5%) trails only the technology sector (+0.7%) after Gap (GPS 23.64, +0.41) reported a 3.0% increase in comparable store sales for the month of December, compared to a 5.0% decline a year ago. The stock has added 1.8% on the report. The sector's heaviest component, Amazon (AMZN 790.25, +9.75), is also up for the day, higher by 1.2%.

The U.S. dollar has bounced back from yesterday's loss, with the U.S. Dollar Index (101.81, +0.42) higher by 0.4%. Also of note, crude oil has slid 0.5% to $53.52/bbl.

11:00 am:

[BRIEFING.COM] The stock market has seen an uptick in recent action, with the S&P 500 (+0.1%) hitting a fresh session high. After outperforming its peers in the last two sessions, the Nasdaq is higher by 0.4% today.

Technology (+0.6%) has given the Nasdaq a bump by topping today's leaderboard. The top-weighted sector has performed well amid gains from its top components like Apple (AAPL 117.68, +1.08) and Facebook (FB 122.70, +2.00), which are up 0.9% and 1.7%, respectively. Chipmakers have also had a good showing, pushing the PHLX Semiconductor Index higher by 0.5%.

Four of six cyclical sectors are in the green, rebounding from yesterday's underperformance. Conversely, all five defensive sectors are posting losses as telecom services (-2.1%) sit far behind their peers at the bottom of the leaderboard.

10:30 am: [BRIEFING.COM]

Crude oil reversed initial morning gains and was trading nearly flat earlier ahead of today's rig count data
Feb 2017 crude futures were nearly flat around the $53.76/barrel level in morning pit trading
Baker Hughes rig count data will be released today at 1 pm ET.
Natural gas extended yesterday's post-EIA gain
Feb 2017 natural gas futures were up about $0.02 (+0.5%) around the $3.29/MMBtu level
In precious metals, gold snapped its 3-session streak & traded lower after the jobs report; silver on track for a weekly gain of +3%
Feb 2017 gold futures were down about $4.20 (-0.4%) around the $1177.40/oz level
Mar 2017 silver futures were down about $0.10 (-0.6%) around the $16.55/oz level
The dollar index was +0.4% around the 101.90 level, snapped its 2-day decline after a lackluster non-farm payrolls report
Commodities, as measured by the Bloomberg Commodity Index, were -0.3% around the 87.31 level

10:00 am:

[BRIEFING.COM] The S&P 500 trades just below its flat line amid losses in six of eleven sectors.

The Factory Orders Report for November showed a decrease of 2.4% while the Briefing.com consensus expected a decrease of 2.1%. The October reading was revised up to 2.8% from 2.7%.

9:40 am:

[BRIEFING.COM] The major averages have spent the initial minutes of the session near their flat lines. The S&P 500 (-0.2%) holds a slim loss with nine sectors trading in the red.

Although the vast majority of sectors sit below their flat lines, only the telecom services space (-2.0%) is down more than 0.5% for the time being. On the upside, health care (+0.1%) and financials (+0.2%) sport modest gains. Also of note, the largest sector by weight-technology-trades near its flat line.

Treasuries hover near their lows after retreating in the wake of a below-consensus December Employment Situation report (156,000; Briefing.com consensus 175,000). However, the disappointment was offset by an upward revision to the November reading (to 204,000 from 178,000).

November Factory Orders (Briefing.com consensus -2.1%) will be reported at 10:00 ET.

9:17 am: [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +3.00.

The S&P 500 futures, which were down two points in front of the release of the employment report, are trading three points above fair value.

December nonfarm payrolls came in at 156,000 while the Briefing.com consensus expected a reading of 175,000. The prior month's reading was revised to 204,000 from 178,000. Nonfarm private payrolls added 144,000 while the Briefing.com consensus expected an increase of 170,000. The unemployment rate held at 4.7% (Briefing.com consensus 4.7%).

Average hourly earnings increased 0.4% (Briefing.com consensus +0.3%). The average workweek was reported at 34.3 while the Briefing.com consensus expected a reading of 34.4.

Separately, the November trade balance showed a deficit of $45.2 billion while the Briefing.com consensus expected the deficit to hit $42.2 billion. The previous month's deficit was revised to $42.4 billion from $42.6 billion.

On the corporate front, Gap (GPS 24.70, +1.45) has increased by 6.1% in pre-market trade after reporting that December comparable store sales increased 3.0% versus a 5.0% decline a year ago. The report follows a disappointing Thursday showing from retailers, who pushed the SPDR S&P 500 Retail ETF (XRT 44.02, 0.00) lower by 2.6% after Macy's (M 31.03, +0.17) and Kohl's (KSS 42.17, +0.16) issued disappointing guidance due to weak holiday sales.

Today's economic data will conclude with November Factory Orders (Briefing.com consensus -2.1%), which will be released at 10:00 ET.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +2.60.

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

Markets in the Asia-Pacific region ended the week on a mixed note. Overnight dollar strength helped the greenback erase roughly a third of yesterday's decline against the yen (116.48). The dollar also climbed against the Chinese yuan (6.8407), retracing the bulk of yesterday's move lower. The People's Bank of China advisor Huang Yiping said that there is little fundamental reasoning behind the prolonged slide in the yuan.

In economic data:
Japan's Average Cash Earnings +0.2% year-over-year, as expected (last 0.1%) and November Overtime Pay -1.3% year-over-year (last -1.4%)
Australia's November trade surplus AUD1.24 billion (expected deficit of AUD500 million; previous deficit of AUD1.12 billion)

---Equity Markets---

Japan's Nikkei shed 0.3%, narrowing its weekly gain to 1.8%. Fast Retailing plunged 6.7% after reporting weak December same-store sales at Uniqlo. Automakers were under pressure after Toyota was threatened with an import tax by President-elect Donald Trump. Toyota Motor fell 1.7% while Honda, Nissan Motor, Mitsubishi Motors, and Mazda Motor lost between 1.9% and 3.1%.
Hong Kong's Hang Seng added 0.2% to end the week higher by 2.3%. Energy-related names like China Petrol & Chemical and Petrochina posted respective gains of 1.9% and 1.5% while select property names also displayed relative strength. Hang Lung Properties, China Overseas, Link Reit, SHK Properties, and Cheung Kong Properties gained between 0.7% and 1.9%.
China's Shanghai Composite lost 0.4%, trimming its weekly advance to 1.6%. Gansu Mogao Industrial Development, Langfang Development, Tonghua Dongbao Pharmaceutical, and Sichuan Guodong Construction posted losses between 3.9% and 5.9%.
India's Sensex settled lower by 0.4%, but gained 2.8% for the week. Technology names struggled after the US Congress reintroduced a bill aimed at curbing the use of H-1B visas. Infosys, Tata Consultancy, Wipro, and ITC lost between 1.6% and 2.5%. Financials outperformed with HDFC Bank and ICICI Bank gaining 0.8% and 0.4%, respectively.

Major European indices trade near their flat lines while Italy's MIB (-0.4%) underperforms. In France, a presidential poll conducted by Les Echos pointed to expectations of a tight three-way race between Emmanuel Macron, Francois Fillon, and Marine Le Pen. French citizens will head to the polls to vote for their next president on Sunday, April 23.

In economic data:
Eurozone November Retail Sales -0.4% month-over-month, as expected (last 1.4%); +2.3% year-over-year (last 3.0%). December Business and Consumer Survey 107.8 (consensus 106.8; last 106.6)
Germany's November Retail Sales -1.8% month-over-month (consensus -0.6%; last 2.5%); +3.2% year-over-year (expected 1.2%; last -0.8%). November Factory Orders -2.5% month-over-month (consensus -2.3%; last 5.0%)
France's November trade deficit narrowed to EUR4.40 billion from EUR5.20 billion (last deficit of EUR4.90 billion)

---Equity Markets---

Germany's DAX sits at its flat line. Lufthansa has slid 2.8% in reaction to cautious analyst commentary. Thyssenkrupp, Commerzbank, and Merck also lag, showing losses between 0.4% and 0.6%. On the upside, Continental, SAP, and Bayer are up between 0.1% and 1.3%.
UK's FTSE is flat. Miners Fresnillo and Randgold Resources hold respective losses of 2.6% and 1.8% while consumer names like Dixons Carphone, Merlin Entertainments, Paddy Power, and InterContinental Hotels are down between 0.9% and 1.3%.
France's CAC is down 0.1% with more than half of its components in the red. Sanofi and Technip are down 2.6% and 1.2%, respectively, while financials are mixed. BNP Paribas is flat, Credit Agricole is lower by 0.5%, and Societe Generale trades higher by 0.4%.
Italy's MIB is lower by 0.4%. STMicroelectronics is the weakest performer, falling 2.6%. Unicredit, Banca Pop Emilia Romagna, UBI Banca, and FinecoBank show losses between 0.8% and 1.2%. Fiat Chrysler has jumped 5.1% in reaction to a tier 1 upgrade.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +1.60.

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

Just in, December nonfarm payrolls came in at 156,000 while the Briefing.com consensus expected a reading of 175,000. The prior month's reading was revised to 204,000 from 178,000. Nonfarm private payrolls added 144,000 while the Briefing.com consensus expected an increase of 170,000. The unemployment rate held at 4.7% (Briefing.com consensus 4.7%).

Average hourly earnings increased 0.4% (Briefing.com consensus +0.3%). The average workweek was reported at 34.3 while the Briefing.com consensus expected a reading of 34.4.

Separately, the November trade balance showed a deficit of $45.2 billion while the Briefing.com consensus expected the deficit to hit $42.2 billion. The previous month's deficit was revised to $42.4 billion from $42.6 billion.

8:01 am: [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: -1.60.

Equity futures are flat this morning ahead of the December Employment Situation report, which will be released at 8:30 ET. The S&P 500 futures trade one point below fair value.

Crude oil is up 0.6% at $54.08/bbl this morning, while U.S. Treasuries are down modestly. The benchmark 10-yr yield is up one basis point to 2.36%.

In addition to the Employment Situation report for December (Briefing.com consensus 175K) at 8:30 ET, today's economic data will also include November Trade Balance (Briefing.com consensus -$42.20 billion) and November Factory Orders (Briefing.com consensus -2.1%). The two reports will cross the wires at 8:30 ET and 10:00 ET, respectively.

In U.S. corporate news of note:

Gap (GPS 25.25, +2.00): +8.6% after reporting December comparable store sales of +3% vs -5% year ago, driven by +12% comparable store sales at Old Navy.
Amgen (AMGN 160.00, +7.02): +4.6% after a patent ruling that blocked Sanofi (SNY 40.18, -1.32) and Regeneron Pharmaceuticals (REGN 360.00, -20.92) from selling cholesterol drug Praluent.
Ruby Tuesday (RT 2.95, -0.58): -16.4% after reporting disappointing Q2 results.

Reviewing overnight developments:

Markets in the Asia-Pacific region ended the week on a mixed note. Japan's Nikkei -0.3%, Hong Kong's Hang Seng +0.2%, China's Shanghai Composite -0.4%, India's Sensex -0.4%.
In economic data:
Japan's Average Cash Earnings +0.2% year-over-year, as expected (last 0.1%) and November Overtime Pay -1.3% year-over-year (last -1.4%)
Australia's November trade surplus AUD1.24 billion (expected deficit of AUD500 million; previous deficit of AUD1.12 billion)
In news:
Overnight dollar strength helped the greenback erase roughly a third of yesterday's decline against the yen (116.00).
The dollar also climbed against the Chinese yuan (6.9186), retracing the bulk of yesterday's move lower. The People's Bank of China advisor Huang Yiping said that there is little fundamental reasoning behind the prolonged slide in the yuan.

Major European indices trade lower while Italy's MIB underperforms. Germany's DAX -0.2%, UK's FTSE -0.2%, France's CAC -0.4%, Italy's MIB -0.7%.
In economic data:
Eurozone November Retail Sales -0.4% month-over-month, as expected (last 1.4%); +2.3% year-over-year (last 3.0%). December Business and Consumer Survey 107.8 (consensus 106.8; last 106.6)
Germany's November Retail Sales -1.8% month-over-month (consensus -0.6%; last 2.5%); +3.2% year-over-year (expected 1.2%; last -0.8%). November Factory Orders -2.5% month-over-month (consensus -2.3%; last 5.0%)
France's November trade deficit narrowed to EUR4.40 billion from EUR5.20 billion (last deficit of EUR4.90 billion)
In news:
In France, a presidential poll conducted by Les Echos pointed to expectations of a tight three-way race between Emmanuel Macron, Francois Fillon, and Marine Le Pen. French citizens will head to the polls to vote for their next president on Sunday, April 23.

5:55 am: [BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: -0.80.

5:55 am: [BRIEFING.COM] Nikkei...19454...-66.40...-0.30%. Hang Seng...22503...+46.30...+0.20%.

5:55 am: [BRIEFING.COM] FTSE...7194.50...-0.80...0.00%. DAX...11558.57...-26.40...-0.20%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries.

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
@ http://twitter.com/wrbtrader @ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
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