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
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)
http://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)


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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $162.50 dollars or +3.25 points, Light Crude Oil CL ($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 @ $162.50 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 for anyone to do a real-time review. 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 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), 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=170&t=2617

##TheStrategyLab Chat Room is free. 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 TheStrategyLab 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 TheStrategyLab 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. 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 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 via removing trouble makers so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell. 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. Access instructions for 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=327&t=3486 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 04:25PM ET
Dow: +25.61… | Nasdaq: +32.21… | S&P: +4.08…
NASDAQ Vol: 1.69 bln… Adv: 1534… Dec: 1345…
NYSE Vol: 743.9 mln… Adv: 1398… Dec: 1511…

Moving the Market

Investors lack conviction as stocks hover near all-time highs

Top-weighted technology sector outperforms amid broad strength

Energy stocks lower ahead of two-day OPEC/non-OPEC compliance meeting

Sector Watch
Strong: Technology, Consumer Staples
Weak: Financials, Industrials, Energy, Real Estate
04:25PM ET

[BRIEFING.COM] Equities opened the week on a positive note as the S&P 500 (+0.2%) ticked up to a new record high for the first time since July 26. The Dow (+0.1%) also closed at a new record high, marking its ninth-consecutive record close, but the Nasdaq was the top performer, outpacing its peers with a gain of 0.5%. A small late-afternoon rally left the major averages at their best marks of the day.

The benchmark S&P 500 index drifted within a five-point range on Monday as a lack of notable headlines resulted in a lack of conviction for investors. More sectors finished in the green than the red--seven to four--but sector movement was modest for the most part with eight of the eleven groups settling within 0.2% of their unchanged marks.

Three groups--technology, consumer staples, and energy--showed notable movement with the technology (+0.6%) and consumer staples (+0.7%) groups finishing at the top of the leaderboard and the energy space (-0.9%) settling at the bottom.

Tyson Foods (TSN 66.90, +3.60) was the top-performing component in the consumer staples sector, jumping 5.7% after beating both top and bottom line estimates and issuing upbeat revenue guidance. As for the tech sector, which is the heaviest sector in terms of weight, chipmakers were among the strongest components, sending the PHLX Semiconductor Index higher by 1.7%.

Mega-cap technology names like Apple (AAPL 158.81, +2.42) and Facebook (FB 171.98, +2.36) also played a vital role in the tech sector's positive performance, adding 1.6% and 1.4%, respectively.

As for the energy sector, nearly all of its components finished in the red as crude oil held a sizable loss for much of Monday's session. The commodity hit its session low ($48.55/bbl, -2.1%) in the late morning, but was able to retrace nearly all of the decline by the close. WTI crude settled lower by 0.1% at a price of $49.37/bbl.

On a related note, OPEC and non-OPEC nations kicked off a two-day compliance meeting in Abu Dhabi on Monday, looking to strengthen their efforts to tighten the world's oil supply. The current OPEC-led supply cut agreement has been in effect since the beginning of the year, but increased production from the United States has largely mitigated the effort.

It's also worth pointing out that Dow component United Technologies (UTX 118.52, -2.97) dropped 2.4% following news that the company has made an approach to acquire Rockwell Collins (COL 127.07, +8.07). Conversely, COL shares jumped 6.8% following the news.

Treasuries settled Monday's session with modest gains, leaving the benchmark 10-yr yield one basis point lower at 2.26%. Meanwhile, the U.S. Dollar Index (93.30, -0.07%) finished lower by 0.1%.

Reviewing Monday's economic data, which was limited to the June Consumer Credit Report:

The Consumer Credit report for June showed an increase of $12.4 billion while the Briefing.com consensus expected growth of $16.2 billion. The prior month's credit growth was revised to $18.3 billion from $18.4 billion.

On Tuesday, investors will once again receive just one piece of economic data--June JOLTS. The report will cross the wires at 10:00 ET.

Nasdaq Composite +18.6% YTD
Dow Jones Industrial Average +11.9% YTD
S&P 500 +10.8% YTD
Russell 2000 +4.2% YTD

Dow: +25.61… | Nasdaq: +32.21… | S&P: +4.08…

NASDAQ Adv/Dec 1534/1345. …NYSE Adv/Dec 1398/1511.

03:10PM ET

[BRIEFING.COM] Commodities end the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.51% at 83.7033.
Dollar index is currently down 0.12% at 93.43.
Sept WTI crude is down on the day.
Futures settled $0.07 lower to $49.37/barrel.
In other energy, Sept natural gas settled up $0.02 at $2.80/MMBtu
On to metals:
Dec gold settled flat at $1264.50 /oz, while September silver dropped $0.02 to $16.25/oz
September copper gained $0.03 to $2.91/lb
Finally, agriculture:
September corn is higher $0.04 at $3.86/bu.
November soy is higher $0.11 at $9.68/bu.
September wheat is higher $0.09 at $4.64/bu.

Dow: +17.33… | Nasdaq: +28.36… | S&P: +2.61…

NASDAQ Adv/Dec 1520/1404. …NYSE Adv/Dec 1356/1545.

03:00PM ET

[BRIEFING.COM] The major averages hover near their best marks of the day moving into the final stretch.

Just in, the Consumer Credit report for June showed an increase of $12.4 billion while the Briefing.com consensus expected growth of $16.2 billion. The prior month's credit growth was revised to $18.3 billion from $18.4 billion.

Dow: +18.15… | Nasdaq: +29.58… | S&P: +2.99…

NASDAQ Adv/Dec 1558/1366. …NYSE Adv/Dec 1365/1534.

02:30PM ET

[BRIEFING.COM] The major averages have not budged since the last update.

Retailers have put together a solid performance today, evidenced by the 0.8% increase in the SPDR S&P Retail ETF (XRT 41.42, +0.32). A number of notable retailers will be delivering their latest earnings reports this week, including Fossil (FOSL 11.41, -0.23) on Tuesday, Macy's (M 23.62, +0.32), Nordstrom (JWN 47.71, +0.90), and Kohl's (KSS 42.86, +0.97) on Thursday, and JC Penney (JCP 5.43, -0.01) on Friday.

Today's lone economic report--June Consumer Credit (Briefing.com consensus $16.2 billion)--will be released shortly at 15:00 ET.

Dow: +20.64… | Nasdaq: +26.24… | S&P: +2.64…

NASDAQ Adv/Dec 1486/1438. …NYSE Adv/Dec 1347/1537.

01:55PM ET

[BRIEFING.COM] The benchmark S&P 500 (+0.1%) continues trending sideways this afternoon, hovering just a tick above its unchanged mark.

Transports are trading in line with the broader market today, sending the Dow Jones Transportation Average higher by 0.1%. Avis Budget (CAR 33.07, +0.86) is pacing the DJTA's advance, climbing 2.7% ahead of tonight's earnings release. Norfolk Southern (NSC 116.36, +1.75) is also outperforming, adding 1.5% after NSC shares were upgraded to 'Outperform' from 'Peer Perform' at Wolfe Research this morning.

On the flip side, Southwest Airlines (LUV 55.61, -0.97) is the weakest DJTA component, dropping 1.7%. In general, airlines have struggled today, dragging the US Global Jets ETF (JETS 30.48, -0.09) lower by 0.3%.

Dow: +17.17… | Nasdaq: +24.21… | S&P: +1.56…

NASDAQ Adv/Dec 1469/1449. …NYSE Adv/Dec 1353/1531.

01:30PM ET

[BRIEFING.COM] The major U.S. show small gains at this time as stocks in a tight range to kick off the week.

A look inside the Dow Jones Industrial Average shows that Boeing (BA 241.20, +3.49), Goldman Sachs (GS 232.57, +2.78), & Wal-Mart (WMT 81.31, +0.83) are outperforming.

Conversely, United Technologies (UTX 118.09, -3.40) is the worst-performing Dow component amid reports it is weighing a possible bid for Rockwell Collins (COL 126.99, +7.99).

With marginal gains in today's session, the DJIA is currently up 1.02% month-to-date.

Dow: +17.17… | Nasdaq: +26.73… | S&P: +2.43…

NASDAQ Adv/Dec 1569/1333. …NYSE Adv/Dec 1434/1437.

01:00PM ET

[BRIEFING.COM] Investors have lacked conviction in the first half of Monday's session, leaving the benchmark S&P 500 (+0.1%) and the Dow (+0.1%) little changed at midday. Meanwhile, the tech-heavy Nasdaq (+0.4%) shows relative strength as tech stocks outperform.

The top-weighted technology sector (+0.4%) trades near the top of today's sector standings amid broad strength. Within the sector, chipmakers have shown particular resolve, sending the PHLX Semiconductor Index higher by 1.4%. Mega-cap names like Apple (AAPL 157.82, +1.43) and Facebook (FB 171.53, +191) are also outperforming, sporting gains of around 1.0% apiece.

Only one sector--consumer staples--holds a wider advance than the technology group. The consumer staples space has climbed 0.5% with Tyson Foods (TSN 66.39, +3.09) leading the advance after reporting better than expected earnings and revenues and issuing positive revenue guidance. TSN shares are up 4.9%, hovering at multi-month highs.

In total, seven of the eleven groups are trading in the green, however, outside of the consumer staples and technology spaces, no group holds a gain of more than 0.2%. As for the four laggards, the financials, industrials, and real estate spaces hold slim losses of 0.1% apiece while the energy sector exhibits notable weakness, dropping 0.9%.

Crude oil has negatively influenced the energy sector, sliding 1.4% to $48.90/bbl, ahead of the start of a two-day compliance meeting between OPEC and non-OPEC nations. There have also been reports of increased production in Libya as the country's largest oil field returns to normal following a brief disruption by armed protesters.

Within the industrial sector, United Technologies (UTX 118.54, -2.95) has dropped 2.6% following news that the company has made an approach to acquire Rockwell Collins (COL 126.71, +7.69). COL shares have jumped 6.5% in reaction to the news.

Outside of the equity market, Treasuries are trading modestly higher this afternoon with the benchmark 10-yr yield slipping one basis point to 2.26%. Meanwhile, the U.S. Dollar Index (93.34, -0.03) trades flat.

On the data front, today's lone economic report--June Consumer Credit (Briefing.com consensus $16.2 billion)--will be released at 15:00 ET.

Dow: +20.42… | Nasdaq: +28.72… | S&P: +2.59…

NASDAQ Adv/Dec 1568/1306. …NYSE Adv/Dec 1420/1429.

12:30PM ET

[BRIEFING.COM] The major averages are trading near their best marks of the day with the S&P 500 sporting a slim gain of 0.1%.

In Europe, the major bourses settled Monday mixed; the UK's FTSE and France's CAC added 0.5% and 0.1%, respectively, while Germany's DAX lost 0.3%. In Germany, the June Industrial Production Report came in below expectations this morning, showing a decline of 1.1% while the consensus called for an increase of 0.2%. Despite the disappointing reading, the euro has manged to tick up 0.1% against the U.S. dollar to 1.1784.

The greenback gained some ground on Friday following a better than expected July jobs report, but the EUR/USD pair is still hovering near its highest level in over two and a half years.

Dow: +26.91… | Nasdaq: +27.69… | S&P: +2.08…

NASDAQ Adv/Dec 1542/1331. …NYSE Adv/Dec 1392/1464.

12:00PM ET

[BRIEFING.COM] The Nasdaq (+0.5%) is picking up strength as the day wears on, hitting a fresh session high in recent action.

Seven of the eleven sectors are currently trading in the red with the energy group (-0.9%) leading the retreat amid a negative performance from crude oil, which is down 1.7% at $48.74/bbl. OPEC and non-OPEC officials will kick off a two-day compliance meeting in Abu Dhabi today, looking to bolster their supply cut efforts, which have been largely offset by increased production in the U.S.

As for the remaining laggards--financials (-0.2%), industrials (-0.2%), health care (unch), utilities (unch), telecom services (-0.1%), and real estate (-0.1%)--losses are modest.

Dow: +13.49… | Nasdaq: +26.84… | S&P: +1.69…

NASDAQ Adv/Dec 1495/1352. …NYSE Adv/Dec 1346/1476.

11:25AM ET

[BRIEFING.COM] Today's session has been range-bound thus far with the S&P 500 (unch) staying true to a three-point range since the opening bell.

The consumer staples space (+0.4%) is trading ahead of the benchmark index this morning amid broad strength. Tyson Foods (TSN 66.23, +2.93) is easily the sector's top-performing component, climbing 4.8% to multi-month highs after beating both top and bottom line estimates and issuing upbeat revenue guidance. In total, four sectors are trading in the green with gains ranging from 0.1% to 0.4%.

Outside of the equity market, Treasuries are still trading flat with the benchmark 10-yr yield unchanged at 2.26%. Similarly, the U.S. Dollar Index (93.36, -0.01) is little changed.

Dow: -5.41… | Nasdaq: +23.07… | S&P: +0.37…

NASDAQ Adv/Dec 1332/1518. …NYSE Adv/Dec 1150/1656.

10:55AM ET

[BRIEFING.COM] The tech-heavy Nasdaq (+0.2%) is trading a step ahead of the S&P 500 (unch) and the Dow (unch) this morning as tech stocks outperform.

Chipmakers have put together a strong performance today, sending the PHLX Semiconductor Index higher by 0.9%. Today's climb places the SOX above its 50-day simple moving average (1,085.13). Also of note, Apple (AAPL 157.59, +1.21) and Facebook (FB 171.02, +1.43) are outperforming, showing gains of around 0.8% apiece.

The top-weighted technology sector (+0.3%) hovers alongside the consumer staples space (+0.3%) at the top of today's sector standings. On the flip side, the energy sector (-0.8%) is the weakest group as crude oil weighs; the commodity is down 1.7% at $48.73/bbl.

Dow: +3.61… | Nasdaq: +18.80… | S&P: +1.00…

NASDAQ Adv/Dec 1275/1530. …NYSE Adv/Dec 1192/1564.

10:45AM ET

[BRIEFING.COM] Commodities are beginning the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are up 0.3% at 83.5292.
Dollar index is currently down 0.07% at 93.47.
Looking at energy...
Crude futures traded down to a low of approximately $48.80/bbl this morning following monthly Baker Hughes rig count data (shown below), and leading into an OPEC meeting today in Abu Dhabi to discuss non conformity issues among member nations.
Baker Hughes announced that the international rig count for July 2017 was 959, down 1 from the 960 counted in June 2017, and up 21 from the 938 counted in July 2016.
Sept WTI crude oil futures are now down $0.58 at $49.00/barrel
In other energy,
Sept natural gas is up $0.013 at $2.787/MMBtu
Moving on to metals...
Aug gold is down $0.20 at $1264.40/oz, while Sept silver is down $0.042 at $16.21/oz
Sept copper is up $0.0285 at $2.9135/lb
In agriculture...
Sept corn futures are up $0.0275 at $3.6925/bu
November soy futures are up $0.0575 at $9.625/bu
Sept wheat futures are up $0.0175 at $4.565/bu

Dow: -2.72… | Nasdaq: +12.84… | S&P: -0.43…

NASDAQ Adv/Dec 1216/1573. …NYSE Adv/Dec 1132/1620.

10:00AM ET

[BRIEFING.COM] The Dow Jones Industrial Average (+0.1%) has set a new all-time high this morning.

A little more than half of the Dow's 30 components are trading in the green with McDonald's (MCD 155.32, +1.50) leading the charge, climbing 1.0%. Meanwhile, United Technologies (UTX 119.14, -2.37) hovers at the bottom of the Dow leaderboard, dropping 1.9%, following reports that the company might be interested in acquiring Rockwell Collins (COL 124.22, +5.22).

Crude oil is down 1.1% at $49.01/bbl this morning as OPEC and non-OPEC members prepare to kick off a two-day compliance meeting in Abu Dhabi.

Dow: +7.72… | Nasdaq: +13.31… | S&P: +0.79…

NASDAQ Adv/Dec 1386/1275. …NYSE Adv/Dec 1285/1344.

09:40AM ET

[BRIEFING.COM] The major averages opened Monday's session flat with the Nasdaq (+0.1%) showing relative strength.

Most sectors trade in negative territory, but losses have been relatively modest thus far. The energy space (-0.5%) is the weakest sector while the other laggards hold losses of no more than 0.2%. On the flip side, the consumer staples (+0.3%) and materials (+0.1%) spaces are the strongest groups.

In the bond market, Treasuries are also trading flat with the benchmark 10-yr yield unchanged at 2.27%.

Dow: +3.46… | Nasdaq: +9.36… | S&P: +0.01…

NASDAQ Adv/Dec 1381/1166. …NYSE Adv/Dec 1169/1352.

09:10AM ET

[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +8.60.

The stock market looks poised for a flat open this morning as the S&P 500 futures trade in line with fair value.

Over the weekend, the U.N. Security Council unanimously voted to impose new sanctions on North Korea in an effort to curb the country's nuclear program. The sanctions are expected to reduce North Korea's exports by one third, costing the country around $1 billion.

In U.S. corporate news, Tyson Foods (TSN 65.20, +1.90) is up 3.0% in pre-market action after beating both top and bottom line estimates and providing upbeat guidance. Marriott (MAR 108.74, +3.72) is also trading higher, up 3.5%, following news that Alibaba (BABA 154.68, +1.35) users will now be able to book Marriott hotels and use loyalty points on Alibaba's site.

Also of note, Rockwell Collins (COL 127.94, +8.94) has climbed 7.5% following reports on Friday evening that United Technologies (UTX 120.00, -1.49) might be interested in acquiring Rockwell Collins.

U.S. Treasuries are trading modestly lower this morning, pushing the benchmark 10-yr yield one basis point higher to 2.27%. Meanwhile, the U.S. Dollar Index (93.39, +0.02) is hovering at its unchanged mark.

Crude oil is currently down 1.3% at $48.94/bbl as investors turn their attention to Abu Dhabi, where a committee of OPEC and non-OPEC officials will kick off a two-day compliance meeting today.

On the data front, today's lone economic report--June Consumer Credit (Briefing.com consensus $16.2 billion)--will be released at 15:00 ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +7.60.

The S&P 500 futures currently trade in line with fair value.

Equity indices in the Asia-Pacific region began the week on a mostly higher note. Chinese rebar prices climbed to a multi-year high in reaction to reports that Hebei Province will reduce daily steel production by 8.0% during the winter. China Banking Regulatory Commission announced that the deadline for bank submission of risk assessments has been extended until mid-August. China's Foreign Minister Wang Yi said that China and the United States are reluctant to engage in a trade war. The UN Security Council imposed new sanctions on North Korea following a unanimous vote. The sanctions are expected to reduce North Korea's exports by about $1 billion.

In economic data:
Australia's July AIG Construction Index 60.5 (last 56.0) and ANZ Job Advertisements +1.5% month-over-month (last 2.7%)
New Zealand's Inflation Expectations slowed to 2.1% from 2.2%
Japan's June Leading Index 106.3 (expected 106.2; last 104.6) and June Coincident Indicator +1.4% month-over-month (last -1.3%)

---Equity Markets---

Japan's Nikkei rose 0.5%. Comsys Holdings, Furukawa Electric, Softbank, Ebara, Toyota, Daikin Industries, Mazda Motor, and Yamaha Motor advanced between 1.4% and 6.2%. On the downside, Nikon, Familymart, Kikkoman, Komatsu, Fanuc, and Bridgestone posted losses between 0.7% and 1.4%.
Hong Kong's Hang Seng climbed 0.5% amid gains in roughly half of its components. Tencent Holdings, Want Want China, and AAC Technologies gained between 1.9% and 2.8% while financials like Bank of China, BoC Hong Kong, China Life Insurance, ICBC, and Bank of East Asia climbed between 0.3% and 1.0%.
China's Shanghai Composite also added 0.5%. BEIH-Property, Changyuan, Arcplus Group, Xiamen Tungsten, and Shanghai Tongji Science & Technology rallied between 7.3% and 9.5%.
India's Sensex shed 0.2%. Infosys was the weakest performer, falling 1.8%. Dr. Reddy's Labs, Tata Motors, Tata Consultancy, and AXIS Bank posted losses between 0.5% and 1.5%. Tata Steel outperformed, jumping 4.3% in anticipation of strong results.

Major European indices trade in mixed fashion with Germany's DAX (-0.4%) showing relative weakness. The British government is reportedly ready to pay EUR36 billion to the European Union if the two sides can agree on a trade deal. A transition deal is being considered, under which the UK would make payments over three years.

In economic data:
Eurozone August Sentix Investor Confidence 27.7 (expected 27.8; last 28.3)
Germany's June Industrial Production -1.1% month-over-month (expected 0.2%; last 1.2%)
UK's July Halifax House Price Index +0.4% month-over-month (expected 0.2%; last -0.9%); +2.1% year-over-year (consensus 2.0%; last 2.6%)
Swiss July CPI -0.3% month-over-month, as expected (last -0.1%); +0.3% year-over-year, as expected (last 0.2%)

---Equity Markets---

Germany's DAX is down 0.4% amid losses in most components. Fresenius ST and Fresenius SE hold respective losses of 2.1% and 1.4% while heavyweights like Deutsche Bank, Volkswagen, SAP, BMW, BASF, and Adidas are down between 0.5% and 1.0%. Deutsche Telekom outperforms, rising 0.8%.
France's CAC has shed 0.1%. ArcelorMittal has jumped 2.8% while financials like Credit Agricole, Societe Generale, and AXA are up between 0.2% and 1.0%. Renault and Peugeot show respective gains of 0.6% and 0.1% while select consumer names lag. Carrefour, Pernod Ricard, L'Oreal, and Accor are down between 0.3% and 0.6%.
UK's FTSE is up 0.2% with miners and homebuilders among the leaders. Anglo American, Glencore, BHP Billiton, and Rio Tinto show gains between 1.7% and 2.5% while Persimmon, Taylor Wimpey, and Barratt Developments have added between 1.2% and 1.7%. Paddy Power is down 6.1% after CEO Breon Corcoran announced plans to step down after 16 years with the company. Peter Jackson will become Paddy Power's new CEO.

08:25AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +8.90.

The S&P 500 futures currently trade in line with fair value.

This week is the last busy week of the earnings season with several big retailers scheduled to report their quarterly results, including Fossil (FOSL 11.64, 0.00) on Tuesday, Macy's (M 23.39, +0.09), Nordstrom (JWN 46.81, 0.00), and Kohl's (KSS 41.89, 0.00) on Thursday, and JC Penney (JCP 5.40, -0.04) on Friday.

On the data front, this week's most notable reports are July PPI (Briefing.com consensus +0.2%) and July CPI (Briefing.com consensus +0.2%). The two reports will be released on Thursday and Friday, respectively.

08:02AM ET

[BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +3.80.

Equity futures are trading relatively flat this morning following a largely positive performance in Asia and amid a mixed performance in Europe. The S&P 500 futures trade one point below fair value.

Over the weekend, the U.N. Security Council unanimously voted to impose new sanctions on North Korea in an effort to curb the country's nuclear program. The sanctions are expected to reduce North Korea's exports by one third, costing the country around $1 billion.

U.S. Treasuries are trading slightly lower in early action, leaving the benchmark 10-yr yield higher by one basis point at 2.28%. Meanwhile, the U.S. Dollar Index (93.30, -0.07) is down 0.1%.

Crude oil is currently down 1.3% at $48.95/bbl as investors turn their attention to Abu Dhabi, where a committee of OPEC and non-OPEC officials will kick off a two-day compliance meeting today.

On the data front, today's lone economic report--June Consumer Credit (Briefing.com consensus $16.2 billion)--will be released at 15:00 ET.

In U.S. corporate news:

Rockwell Collins (COL 127.50, +8.50): +7.1% following reports on Friday evening that United Technologies (UTX 120.00, -1.49) is weighing an acquisition of COL.
Deere (DE 130.90, +1.15): +0.9% after the company was added to the 'Conviction Buy List' at Goldman.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mostly higher note. Japan's Nikkei +0.5%, Hong Kong's Hang Seng +0.5%, China's Shanghai Composite +0.5%, India's Sensex -0.2%.
In economic data:
Australia's July AIG Construction Index 60.5 (last 56.0) and ANZ Job Advertisements +1.5% month-over-month (last 2.7%)
New Zealand's Inflation Expectations slowed to 2.1% from 2.2%
Japan's June Leading Index 106.3 (expected 106.2; last 104.6) and June Coincident Indicator +1.4% month-over-month (last -1.3%)
In news:
Chinese rebar prices climbed to a multi-year high in reaction to reports that Hebei Province will reduce daily steel production by 8.0% during the winter.
China Banking Regulatory Commission announced that the deadline for bank submission of risk assessments has been extended until mid-August.
China's Foreign Minister Wang Yi said that China and the United States are reluctant to engage in a trade war.
The UN Security Council imposed new sanctions on North Korea following a unanimous vote. The sanctions are expected to reduce North Korea's exports by about $1 billion.

Major European indices trade in mixed fashion. Germany's DAX -0.5%, France's CAC unch, UK's FTSE +0.2%.
In economic data:
Eurozone August Sentix Investor Confidence 27.7 (expected 27.8; last 28.3)
Germany's June Industrial Production -1.1% month-over-month (expected 0.2%; last 1.2%)
UK's July Halifax House Price Index +0.4% month-over-month (expected 0.2%; last -0.9%); +2.1% year-over-year (consensus 2.0%; last 2.6%)
Swiss July CPI -0.3% month-over-month, as expected (last -0.1%); +0.3% year-over-year, as expected (last 0.2%)
In news:
The British government is reportedly ready to pay EUR36 billion to the European Union if the two sides can agree on a trade deal. A transition deal is being considered, under which the UK would make payments over three years.

05:54AM ET

[BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +4.10.
05:54AM ET

[BRIEFING.COM] Nikkei

...20056...+103.60

...+0.50%

Hang Seng

...27690...+127.70

...+0.50%

05:54AM ET

[BRIEFING.COM] FTSE

...7523.61...+11.90

...+0.20%

DAX

...12271...-26.70

...-0.20%

04:30PM ET

[BRIEFING.COM] The major averages eked out another win on Friday following the release of the Employment Situation Report for July, which showed an impressive increase in nonfarm payrolls. The Dow (+0.3%) cruised to its eighth-consecutive record close, finishing a tick above both the S&P 500 (+0.2%) and the Nasdaq (+0.2%). For the week, the S&P 500 advanced 0.2%.

In terms of job growth, the July jobs report soundly beat expectations, showing the addition of 209,000 nonfarm payrolls (Briefing.com consensus 181,000). However, in terms of wage growth, investors received another unimpressive reading as the report showed an increase of just 0.3% in average hourly earnings (Briefing.com consensus +0.3%). In other words, it was another 'Goldilocks' report.

Investors have rallied around these 'Goldilocks' reports in the past as they're not hot enough to raise rate-hike concerns that are typically present amid a pick up in economic activity and not cold enough to give investors a reason to question the state of future economic growth.

Rate-hike expectations did shift up a tad following the July jobs report with the fed funds futures market assigning an implied probability of 50.4% to a December rate hike, up from 46.8% on Thursday.

U.S. Treasuries sold off in a curve-steepening trade following the release, leaving the 10-yr yield (2.26%) and the 2-yr yield (1.35%) higher by four basis points and one basis point, respectively. Meanwhile, the U.S. Dollar Index (93.35, +0.65) rallied 0.7% to eke out a modest victory for the week (+0.3%).

In the equity market, the heavily-weighted financial sector (+0.7%) outperformed from start to finish, settling the session at the top of the leaderboard. However, the space slipped to the bottom of its trading range in the afternoon following reports that Wells Fargo's (WFC 52.84, -0.56) customer account scandal could be bigger than previously thought. WFC shares closed lower by 1.1%.

Out of the remaining sectors, seven groups--consumer discretionary (unch), industrials (+0.2%), energy (+0.4%), materials (+0.5%), technology (+0.3%), telecom services (+0.5%) and real estate (+0.3%)--finished in positive territory. As for the laggards--health care (-0.2%), consumer staples (-0.2%), and utilities (-0.3%)--the losses were modest.

On the earnings front, a handful of notable small-cap companies dominated the headlines, including Yelp (YELP 40.05, +8.68), GrubHub (GRUB 52.62 +4.37), GoPro (GPRO 9.85, +1.59), and Weight Watchers (WTW 41.39, +8.31). Weight Watchers and GoPro surged 25.1% and 19.3%, respectively, after both companies beat top and bottom line estimates and issued positive guidance.

Meanwhile, Yelp and GrubHub spiked 27.7% and 9.1%, respectively, after GrubHub said it plans to buy Yelp's Eat24 business for $287.5 million in cash. As for earnings, GRUB's latest report was in line with expectations while YELP's showed better than expected earnings and revenues. The small-cap Russell 2000 settled ahead of the broader market, climbing 0.5%.

Reviewing Friday's economic data, which included the Employment Situation Report for July and the June Trade Balance:

Employment Situation Report for July
July nonfarm payrolls hit 209,000 while the Briefing.com consensus expected a reading of 181,000. The prior month's reading was revised to 231,000 from 222,000. Nonfarm private payrolls added 205,000 while the Briefing.com consensus expected an increase of 175,000. The previous month's reading was revised to 194,000 from 187,000.
The unemployment rate declined to 4.3% (Briefing.com consensus 4.3%). Average hourly earnings increased 0.3% (Briefing.com consensus +0.3%), while the previous month's reading was left unrevised at 0.2%. The average workweek was reported at 34.5, as expected. The previous month's reading was left unrevised at 34.5.
The key takeaway from the report is that it fit that sweet spot yet again for the stock market where job growth was strong but wage growth was not. The assumption, therefore, is that the Fed will continue to wait on its next rate hike.
Trade Balance for June
The June trade balance showed a deficit of $43.6 billion while the Briefing.com consensus expected the deficit to hit $44.9 billion. The previous month's deficit was revised to $46.4 billion (from $46.5 billion).
The key takeaway from the report is that it should factor favorably in the revision to Q2 GDP.

On Monday, investors will receive just one economic report--June Consumer Credit (Briefing.com consensus $16.2 billion)--which will cross the wires at 15:00 ET.

Nasdaq Composite +18.0% YTD
S&P 500 +10.6% YTD
Dow Jones Industrial Average +11.8% YTD
Russell 2000 +4.1% YTD

Week In Review: Dow Domination

According to the Dow Jones Industrial Average, the stock market had yet another bullish week; the industrial average ended Friday at a record high, for the eighth session in a row, and a weekly gain of 1.2%. However, the S&P 500 and the Nasdaq tell a less conclusive story; the S&P 500 muscled its way to a modest victory, adding 0.2%, while the Nasdaq dropped 0.4%.

Regardless of this week's mixed performance, there's no question that investors are still bullish as stocks hover near all-time highs and the CBOE Volatility Index (VIX) hovers near an all-time low.

The week's most notable headlines in chronological order:

Crude oil settled July with its best one-month gain (+9.0%) since April 2016
The core PCE Price Index for June hit expectations (+0.1%), as did personal spending (+0.1%), but personal income fell short (0.0% vs 0.3%)
Sprint (S) spiked after beating earnings estimates, raising its profit guidance, and saying it believes an M&A announcement will come "in the near future"
American automakers General Motors (GM) and Ford Motor (F) tumbled following disappointing July sales figures
Apple (AAPL) jumped after beating both top and bottom line estimates and implying that its much-anticipated iPhone 8 release is on track
Treasuries rallied after the Bank of England decided to leave interest rates unchanged in a 6-2 vote
Tesla (TSLA) beat both top and bottom line estimates and announced that its Model 3 production is on track
The Employment Situation Report for July soundly beat estimates, showing the addition of 209,000 nonfarm payrolls (Briefing.com consensus 181,000)
However, average hourly earnings remained subdued, increasing just 0.3% (Briefing.com consensus +0.3%)

Of those headlines, two are worth a closer look--Apple's earnings report and the Employment Situation Report for July. Apple is the S&P 500's largest component by market cap and has played a huge role in the stock market's 2017 advance, evidenced by the massive 29.6% year-to-date gain it took into Tuesday night's earnings release.

Needless to say, it's quite impressive that the company was able to deliver in the face of such lofty expectations. However, it's also important to note that much of the positive sentiment surrounding the company has to do with its upcoming iPhone 8 release, which has been generating hype for months. So far, everything looks to be on track for the fall release, but if that changes, so might the bullish bias.

As for the July jobs report, the key take away is it hit the sweet spot once again as job growth was strong but wage growth was not, keeping inflationary concerns at bay. The fed funds futures market points to the December FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 50.4%. Last week, the market expected the next hike to occur in January.

Four sectors settled the week in the green--financials (+1.8%), utilities (+1.5%), industrials (+0.8%), and technology (+0.4%)--while seven groups finished in the red--energy (-1.0%), materials (-0.8%), health care (-0.6%), consumer staples (-0.6%), consumer discretionary (-0.4%), real estate (-0.2%), and telecom services (-0.1%).

Outside of the equity market, the benchmark 10-yr yield slipped three basis points to 2.26%, crude oil dropped 0.5% to $49.44/bbl, and the U.S. Dollar Index climbed 0.3% to 93.35.

Dow: +66.71… | Nasdaq: +11.22… | S&P: +4.67…

NASDAQ Adv/Dec 1819/1164. …NYSE Adv/Dec 1657/1257.

Price Action Trading @ http://www.thestrategylab.com/price-action-trading.htm

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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 the links will be useful for you.

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

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