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)
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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 @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($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 via the user name wrbtrader 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=2622

##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. 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 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, many different mobile apps and many different types of social media software can be used to log in. 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 trouble makers so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled.

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 04:30PM ET
Dow: +135.39… | Nasdaq: +83.68… | S&P: +24.52…
NASDAQ Vol: 1.69 bln… Adv: 2114… Dec: 714…
NYSE Vol: 744.0 mln… Adv: 2284… Dec: 681…

Moving the Market

Top-weighted technology and financials sectors lead bounce-back performance

U.S.-North Korea tension seemingly cools down a bit over the weekend

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

[BRIEFING.COM] The weekend came and went without any major developments on the North Korean front, allowing investors to breath a sigh of relief and launch another 'buy-the-dip' campaign on Monday. The major averages finished solidly higher across the board with the tech-heavy Nasdaq (+1.3%) leading the charge. The S&P 500 and the Dow settled with gains of 1.0% and 0.6%, respectively.

Following a mixed performance from Asian equity markets and amid an upbeat performance from the major European bourses, Wall Street opened Monday's session comfortably higher and extended its gain throughout the first hour and a half of trading. From there, the major averages trended sideways, slipped a bit moving into the final stretch, and then rallied back near their session highs before the day's end.

For perspective, at last Thursday's closing bell, the benchmark S&P 500 sat about 43 points, or 1.7%, below the record-high close (2,480.9) it posted on Monday, August 7. Today's advance brings the benchmark index within 15 points, or 0.6%, of its record mark. For the month, the S&P 500 currently shows a loss of 0.2%.

The lightly-weighted real estate sector (+1.7%) finished at the top of Monday's leaderboard, but it was the top-weighted technology (+1.6%) and financials (+1.4%) sectors that drove the upbeat performance. The two groups, which represent around 35.0% of the broader market combined, benefited from broad strength with just about all of their components finishing in positive territory.

In total, ten of the eleven sectors--financials (+1.4%), consumer discretionary (+0.7%), industrials (+1.0%), materials (+0.9%), technology (+1.6%), health care (+0.7%), consumer staples (+0.5%), utilities (+0.6%), telecom services (+1.2%), and real estate (+1.7%)--finished in the green. The energy sector (-0.3%) was the lone laggard.

Crude oil weighed on the energy group, dropping 2.5% to $47.59/bbl, which marks a three-week low for the commodity. The Energy Information Administration (EIA) said that it expects oil production to increase by 117,000 barrels a day--to a total of 6.149 million barrels a day--in September. The EIA report has shown an increase in shale-oil production every month this year.

In the bond market, U.S. Treasuries began the week on a lower note, giving back a portion of their gains from the end of last week. The benchmark 10-yr yield climbed three basis points to 2.22%.

It's also worth pointing out that the CBOE Volatility Index (VIX 12.37, -3.14), which surged to a four-month high last Thursday, dropped 20.1% on Monday.

Investors did not receive any economic data on Monday. However, on Tuesday, investors will receive a number of economic reports, including July Retail Sales (Briefing.com consensus 0.3%), July Import/Export Prices, and August Empire Manufacturing (Briefing.com consensus 13) at 8:30 ET, and both June Business Inventories (Briefing.com consensus 0.4%) and the August NAHB Housing Market Index (Briefing.com consensus 65) at 10:00 ET.

Nasdaq Composite +17.8% YTD
Dow Jones Industrial Average +11.3% YTD
S&P 500 +10.1% YTD
Russell 2000 +2.7% YTD

Dow: +135.39… | Nasdaq: +83.68… | S&P: +24.52…

NASDAQ Adv/Dec 2114/714. …NYSE Adv/Dec 2284/681.

03:00PM ET

[BRIEFING.COM] Equity indices are on track to end Monday with sizable victories moving into the final hour of trading. The Nasdaq leads with a gain of 1.3% while the S&P 500 and the Dow show respective gains of 1.0% and 0.7%.

Chipmakers are still going strong this afternoon, evidenced by the 2.2% increase in the PHLX Semiconductor Index. NVIDIA (NVDA 166.04, +10.06) is pacing the semiconductor advance with a gain of 6.4%, which makes up for Friday's post-earnings sell off. NVDA shares plunged 5.3% on Friday despite the company beating both top and bottom line estimates and raising its revenue guidance for the third quarter.

In the bond market, U.S. Treasuries are still trading lower across the curve with the benchmark 10-yr yield hovering two basis points above its flat line at 2.22%. The 2-yr yield also trades two basis points higher, hovering at 1.31%.

Dow: +125.22… | Nasdaq: +77.43… | S&P: +22.95…

NASDAQ Adv/Dec 2159/744. …NYSE Adv/Dec 2254/677.

02:50PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.7% at 83.1101
Dollar index is currently up 0.38% at 93.42.
Sept WTI crude is down on the day.
Futures settled $1.22 lower to $47.59/barrel.
In other energy, Sept natural gas settled down $0.02 at $2.96/MMBtu
On to metals:
Dec gold lost $3.87 to settle at $1290.13/oz, while September silver gained $0.05 to $17.13/oz
September copper lost $0.01 to $2.90/lb
Finally, agriculture:
September corn is up $0.01 at $3.76/bu.
November soy is down $0.09 at $9.37/bu.
September wheat is up $0.01 at $4.40/bu.

Dow: +123.86… | Nasdaq: +75.96… | S&P: +22.22…

NASDAQ Adv/Dec 2162/743. …NYSE Adv/Dec 2252/676.

02:25PM ET

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

Ten out of eleven sectors are trading in the green this afternoon with the energy space (-0.1%) being the lone laggard. The energy sector has struggled to keep pace with the broader market as crude oil continues to tumble, further extending its loss to 2.4%. The commodity currently hovers at a price of $47.63/bbl, which marks its worst level of the month.

On the flip side, the ten advancing sectors hold gains between 0.4% (utilities) and 1.6% (real estate). The top-weighted financials (+1.5%) and technology (+1.5%) sectors are still exhibiting relative strength.

Dow: +145.07… | Nasdaq: +80.52… | S&P: +24.33…

NASDAQ Adv/Dec 2190/726. …NYSE Adv/Dec 2302/622.

02:00PM ET

[BRIEFING.COM] The major U.S. indices continue trending sideways with the S&P 500 sporting a gain of 1.0%.

Transports are outperforming today, sending the Dow Jones Transportation Average higher by 1.7%. All of the DJTA's 20 components are currently trading in the green with gains ranging from 0.6% to 3.0%. Today's advance extends the DJTA's month-to-date gain to 1.9%. For comparison, the S&P 500 currently holds a month-to-date loss of 0.2%.

Meanwhile, the industrial sector (+1.0%), which houses many transport names, trades in line with the benchmark index amid broad strength. The sector holds a month-to-date gain of 0.3%, which puts it in third place behind the technology (+1.5%) and utilities (+1.0%) groups for the month of August.

Dow: +145.51… | Nasdaq: +81.14… | S&P: +24.72…

NASDAQ Adv/Dec 2184/722. …NYSE Adv/Dec 2313/623.

01:25PM ET

[BRIEFING.COM] The major averages continue cruising near their best levels of the day with the Nasdaq Composite (+1.3%) trading ahead of the S&P 500 (+1.0%).

The tech-heavy Nasdaq has drawn support from top-weighted technology names like Apple (AAPL 159.66, +2.18), Microsoft (MSFT 73.66, +1.16), Alphabet (GOOGL 939.04, +8.95), and Intel (INTC 36.38, +0.52), among others. Intel's relative strength comes amid noteworthy gains from the chipmaker space, which have sent the PHLX Semiconductor Index higher by 2.4%.

Other high-beta groups have also enjoyed a strong first half of Monday's action. Relative strength in biotech names has helped the iShares Nasdaq Biotechnology ETF (IBB 309.99, +3.58) rally 1.2% while the iShares Dow Jones US Home Construction ETF (ITB 34.51, +0.42) has also climbed 1.2%.

Dow: +143.74… | Nasdaq: +81.88… | S&P: +24.62…

NASDAQ Adv/Dec 2165/738. …NYSE Adv/Dec 2306/618.

01:05PM ET

[BRIEFING.COM] Wall Street has been trimming last week's loss throughout the first half of Monday's session, pushing all three major averages solidly higher. The Nasdaq (+1.2%) is leading the benchmark S&P 500 (+1.0%) while the Dow (+0.7%) struggles to keep pace with its peers.

Investors have been breathing a sigh of relief today as the weekend came and went without any major developments on the North Korean front. The U.S. and North Korea engaged in a war of words last week with both countries threatening military action against the other. However, U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson made it clear on Sunday that the U.S. still favors diplomacy.

In addition, China announced that it will stop importing North Korean coal, iron ore, and fish, suggesting Beijing is willing to work with the U.S. despite its ties to Pyongyang.

The top-weighted technology (+1.4%) and financials (+1.4%) sectors, which comprise around 35.0% of the broader market combined, have provided solid sector leadership throughout today's session. Nearly all of the financial and technology components within the S&P 500 are currently trading in positive territory. Chipmakers show notable strength, pushing the PHLX Semiconductor Index higher by 2.3%.

All sectors are trading in the green this afternoon with the lightly-weighted real estate space (+1.7%) being the only one to trade ahead of financials and technology at the top of the sector standings. The remaining groups hold gains between 0.1% (energy) and 1.2% (telecom services).

The energy space (+0.1%) is the weakest performer by a relatively wide margin, thanks in part to crude oil's negative performance. The commodity has slipped 2.0% to $47.89/bbl, which marks its lowest level in three weeks. Crude oil actually held a gain of around 0.7% this morning, but moved sharply lower shortly thereafter.

In the bond market, U.S. Treasuries have retraced a good chunk of their earlier losses, but still trade lower at midday. The benchmark 10-yr yield is up one basis point at 2.20%.

Also of note, the CBOE Volatility Index (VIX 12.56, -2.95) has dropped 19.0% today after surging to a four-month high last Thursday.

Dow: +144.13… | Nasdaq: +79.88… | S&P: +24.71…

NASDAQ Adv/Dec 2171/731. …NYSE Adv/Dec 2344/576.

12:30PM ET

[BRIEFING.COM] The major averages haven't changed since the last update.

In Europe, the major bourses finished in the green with Germany's DAX, France's CAC, and the UK's FTSE adding 1.3%, 1.2%, and 0.6%, respectively. Coming into Monday's session, European markets were on a three-session slide as heightened tensions between the U.S. and North Korea weighed on investor sentiment around the globe.

Meanwhile, in the currency market, the U.S. dollar has climbed 0.3% against the euro (1.1783) and 0.2% against the pound (1.2981). The greenback's relative strength has put the U.S. Dollar Index (93.27, +0.28) on track to break its three-session losing streak.

Dow: +150.72… | Nasdaq: +77.66… | S&P: +24.82…

NASDAQ Adv/Dec 2153/727. …NYSE Adv/Dec 2412/492.

12:00PM ET

[BRIEFING.COM] Stocks continue trending sideways, leaving the S&P 500 within a two-point range over the last 30 minutes of trading.

After suffering a decline of 2.5% last week, the heavily-weighted financial sector has kicked off the new week on a positive note, extending its Monday gain to 1.6%. All financial components are currently trading in the green with influential names like Goldman Sachs (GS 229.66, +5.51), Bank of America (BAC 24.45, +0.58), and Wells Fargo (WFC 53.05, +1.11) sporting gains between 2.1% and 2.5%.

The financial sector registered five-consecutive losses last week, but found support at its 50-day simple moving average (408.83). The sector hasn't traded below the key technical level since early June.

Dow: +147.91… | Nasdaq: +75.53… | S&P: +25.03…

NASDAQ Adv/Dec 2135/726. …NYSE Adv/Dec 2407/469.

11:30AM ET

[BRIEFING.COM] The major averages have ticked down slightly since the last update with the S&P 500 trimming its gain to 1.0%.

Crude oil has been on a roller coaster ride this morning, trading as low as -0.9% and as high as +0.7%. Currently, the commodity is down 0.5% at a price of $48.61/bbl following a recent sharp move to the downside. There aren't any notable headlines to credit for the volatility. The energy sector, which typically moves in tandem with crude oil, trades behind the broader market with a modest gain of 0.4%.

The energy sector is one of only two sectors to trade in negative territory for the year with the other being telecom services. The two groups currently hold year-to-date losses of 15.0% and 9.0%, respectively. For comparison, the S&P 500 holds a year-to-date gain of 10.1%.

Dow: +144.08… | Nasdaq: +72.24… | S&P: +24.44…

NASDAQ Adv/Dec 2110/752. …NYSE Adv/Dec 2405/443.

11:00AM ET

[BRIEFING.COM] Equity indices are currently hovering at their best marks of the morning with the S&P 500 sporting a gain of 1.1%.

The top-weighted technology (+1.5%) and financials (+1.5%) sectors, which comprise around 35.0% of the broader market combined, are trading at the top of the sector standing this morning amid broad strength. The lightly-weighted real estate (+1.4%) and telecom services (+1.1%) groups also show notable strength while the remaining sectors hold gains between 0.3% and 1.0%.

Today's positive performance comes on the heels of the S&P 500's worst one-week drop since March (-1.4%). For the month of August, the benchmark index currently shows a slim loss of 0.1%.

Dow: +154.73… | Nasdaq: +78.41… | S&P: +25.89…

NASDAQ Adv/Dec 2126/711. …NYSE Adv/Dec 2424/422.

09:55AM ET

[BRIEFING.COM] The major U.S. indices are still solidly higher this morning. The Nasdaq (+1.0%) leads the S&P 500 (+0.8%) while the Dow (+0.6%) struggles to keep pace.

Within the Dow, Home Depot (HD 154.11, -0.76) is the weakest component by a relatively wide margin, dropping 0.5%. McDonald's (MCD 157.05, -0.26), Pfizer (PFE 33.19, -0.07), and Johnson & Johnson (JNJ 133.04, -0.06) also trade in the red with losses of around 0.1% apiece. All other Dow components trade in the green with gains ranging from 0.2% to 1.9%.

Outside of the equity market, U.S. Treasuries are trading modestly lower with the benchmark 10-yr yield climbing two basis points to 2.22%. Meanwhile, the U.S. Dollar Index (93.27, +0.28) is up 0.3%, gold is down 0.5% at $1,287.75/ozt, and crude oil is up 0.4% at $49.00/bbl.

Dow: +127.41… | Nasdaq: +61.48… | S&P: +20.35…

NASDAQ Adv/Dec 2129/614. …NYSE Adv/Dec 2344/404.

09:45AM ET

[BRIEFING.COM] The major averages opened Monday's session solidly higher with the S&P 500 sporting a gain of 0.8%.

All sectors are trading in the green with the top-weighted technology (+1.1%) and financials (+1.1%) groups pacing the advance. Within the tech space, chipmakers exhibit particular strength, sending the PHLX Semiconductor Index higher by 1.7%. For financials, Dow component Goldman Sachs (GS 228.56, +4.41) is one of the sector's top performers, adding 2.0%.

Meanwhile, the energy and utilities sectors trade at the bottom of the sector standings with modest gains of 0.2% apiece.

Dow: +130.89… | Nasdaq: +58.60… | S&P: +19.24…

NASDAQ Adv/Dec 2056/636. …NYSE Adv/Dec 2303/415.

09:15AM ET

[BRIEFING.COM] S&P futures vs fair value: +13.50. Nasdaq futures vs fair value: +39.60.

The bulls are in the driver's seat this morning, looking to restore some of last week's losses on Wall Street. The S&P 500 futures currently trade 14 points, or 0.6%, above fair value.

U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson dialed back geopolitical fears a bit this weekend, saying that the U.S. will still try to achieve a diplomatic solution to North Korea's nuclear program.

Unsurprisingly, safe-haven assets are trading lower amid this morning's risk-on sentiment; gold is down 0.4% at $1,288.81/ozt, the Japanese yen has dropped 0.4% against the U.S. dollar to 109.59, and the benchmark 10-yr yield, which moves inversely to the price of the 10-yr U.S. Treasury note, is higher by two basis points at 2.22%.

In addition, the CBOE Volatility Index (VIX 13.21, -2.30) is down 14.8% this morning after spiking to multi-month highs at the tail end of last week.

Global markets have largely moved in tandem with Wall Street throughout the geopolitical uncertainty, dropping with U.S. equities last week and trading mostly in the green with them this morning..

Today's economic calendar is blank, but investors will receive several notable economic reports throughout the week, including July Retail Sales (Briefing.com consensus 0.3%) on Tuesday, July Housing Starts (Briefing.com consensus 1.217 million) on Wednesday, and July Industrial Production (Briefing.com consensus 0.3%) and Capacity Utilization (Briefing.com consensus 76.7%) on Thursday.

Also of note, the minutes from the July 25-26 FOMC meeting will be released on Wednesday afternoon at 14:00 ET.

08:51AM ET

[BRIEFING.COM] S&P futures vs fair value: +14.50. Nasdaq futures vs fair value: +41.50.

The S&P 500 futures currently trade 15 points, or 0.6%, above fair value.

Equity indices in the Asia-Pacific region began the week on a mixed note. The weekend went by without any major changes related to North Korea. South Korea's Finance Minister Kim Dong-yeon said that tensions are impacting global markets due to a perception that the current situation is more severe than in the past. The United States is expected to launch an investigation into alleged intellectual property theft by China. Meanwhile, China announced it will stop importing North Korean coal, iron ore, and fish.

In economic data:
China's July Retail Sales +10.4% year-over-year (consensus 10.8%; last 11.0%), July Industrial Production +6.4% year-over-year (consensus 7.2%; last 7.6%), and July Fixed Asset Investment +8.3% year-over-year (consensus 8.6%; previous 8.6%)
Japan's Q2 GDP +1.0% quarter-over-quarter (expected 0.6%; last 0.4%); +4.0% year-over-year (consensus 2.5%; last 1.5%). Q2 GDP Capital Expenditure +2.4% quarter-over-quarter (expected 1.2%; last 0.9%) and Q2 GDP External Demand -0.3% quarter-over-quarter, as expected (last 0.1%)
India's July WPI Inflation 1.88% year-over-year (consensus 1.30%; last 0.90%). July WPI Manufacturing Inflation 2.18% year-over-year (last 2.27%)
New Zealand's Q2 Retail Sales +2.0% quarter-over-quarter (expected 0.7%; last 1.6%) and Core Retail Sales +2.1% quarter-over-quarter (last 1.5%)

---Equity Markets---

Japan's Nikkei lost 1.0%. Citizen Holdings fell 9.2% while Nippon Electric Glass, Yamaha, Yokohama Rubber, NSK, Ebara, Haseko, Suzuki Motor, Komatsu, and TOTO lost between 2.4% and 4.7%. On the upside, Yamaha Motor, SUMCO, Yaskawa Electric, and Alps Electric added between 0.4% and 1.6%.
Hong Kong's Hang Seng rallied 1.4%. Apple supplier AAC Technologies jumped 6.9% while China Unicom, Tencent Holdings, and Geely Automobile rose between 4.2% and 5.6%. Financials like Ping An Insurance, Hang Seng Bank, ICBC, China Construction Bank, and Bank of China advanced between 1.3% and 2.5%.
China's Shanghai Composite added 0.9%. Xiamen Faratronic, China National Software & Service, Hundsun Technologies, China Northern Rare Earth, and Beijing Capital climbed between 6.7% and 9.9%.
India's Sensex ended higher by 0.8%. Drugmakers like Cipla and Sun Pharma both gained near 4.9% while Dr. Reddy's Labs fell 0.5%. Tata Steel, Adani Ports, Hero MotoCorp, and Maruti Suzuki posted gains between 2.2% and 4.2%.

Major European indices trade higher across the board, recouping a portion of last week's losses. Britain's former Foreign Secretary David Miliband argued for a second referendum to approve the final Brexit deal. UK's Brexit Minister David Davis has urged all parties to move past starter issues to advance the negotiations. Italy's Banca Monte dei Paschi di Siena reported a second quarter loss of EUR3.20 billion.

In economic data:
Eurozone June Industrial Production -0.6% month-over-month (expected -0.5%; last 1.2%); +2.6% year-over-year (consensus 2.8%; last 3.9%)

---Equity Markets---

UK's FTSE has climbed 0.5% with TUI spiking 4.8% in reaction to an upgrade. Financials like Standard Chartered, Standard Life, Prudential, Old Mutual, RBS, HSBC, and Lloyds Banking are up between 0.8% and 2.1%. Select consumer names lag with Next, Marks & Spencer, Kingfisher, Tesco, Imperial Brands, and Sainsbury falling between 0.1% and 0.9%.
France's CAC trades up 1.0% amid strength in financials. Unibail Rodamco, Societe Generale, BNP Paribas, and Credit Agricole show gains between 1.0% and 3.0%. Automakers Peugeot and Renault are both up near 1.6%. On the downside, Carrefour has shed 0.1%.
Germany's DAX is higher by 1.1% with all but one component on the rise. Commerzbank and Deutsche Bank show respective gains of 3.1% and 2.7% while heavyweights like Bayer, SAP, BASF, Merck, and Volkswagen have added between 0.8% and 1.5%.
Spain's IBEX outperforms, rallying 1.4%. Banco Sabadell, Santander, BBVA, Caixabank, Bankinter, and Bankia are up between 1.2% and 2.9%.

08:25AM ET

[BRIEFING.COM] S&P futures vs fair value: +15.30. Nasdaq futures vs fair value: +42.40.

The S&P 500 futures currently trade 15 points, or 0.6%, above fair value.

Investors will not receive any economic data today, but they will receive a handful of notable reports throughout the week, including July Retail Sales (Briefing.com consensus 0.3%) on Tuesday, July Housing Starts (Briefing.com consensus 1.217 million) on Wednesday, and July Industrial Production (Briefing.com consensus 0.3%) and Capacity Utilization (Briefing.com consensus 76.7%) on Thursday.

In addition, the minutes from the July 25-26 FOMC meeting will be released on Wednesday afternoon at 14:00 ET.

08:01AM ET

[BRIEFING.COM] S&P futures vs fair value: +14.90. Nasdaq futures vs fair value: +35.90.

The equity market looks poised to reclaim a chunk of last week's loss--which marked the S&P 500's worst one-week drop since March--at Monday's opening bell as the S&P 500 futures currently trade 15 points, or 0.6%, above fair value.

A war of words broke out between the U.S. and North Korea last week, prompting investors to take some money off the table following the stock market's most recent run to new record highs. The geopolitical tension eased a bit over the weekend, however, with U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson saying that the U.S. is still trying to achieve a diplomatic solution in regards to North Korea's nuclear program.

Global markets have largely moved in tandem with Wall Street throughout the geopolitical uncertainty, dropping with U.S. equities last week and trading in the green with them this morning.

Unsurprisingly, safe-haven assets are trading lower amid this morning's risk-on sentiment. Gold is down 0.6% at $1,286.34/ozt, the Japanese yen has dropped 0.4% against the U.S. dollar to 109.65, and the benchmark 10-yr yield, which moves inversely to the price of the 10-yr U.S. Treasury note, is higher by three basis points at 2.22%.

In addition, the CBOE Volatility Index (VIX 13.13, -2.38), often referred to as the "investor fear gauge", is down 15.3% this morning after spiking to multi-month highs at the tail end of last week.

Investors will not receive any economic data of note on Monday.

In U.S. corporate news:

Tesla (TSLA 364.00, +6.13): +1.7% after the company's target price was raised to $317 from $305 at Morgan Stanley.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mixed note. Japan's Nikkei -1.0%, Hong Kong's Hang Seng +1.4%, China's Shanghai Composite +0.9%, India's Sensex +0.8%.
In economic data:
China's July Retail Sales +10.4% year-over-year (consensus 10.8%; last 11.0%), July Industrial Production +6.4% year-over-year (consensus 7.2%; last 7.6%), and July Fixed Asset Investment +8.3% year-over-year (consensus 8.6%; previous 8.6%)
Japan's Q2 GDP +1.0% quarter-over-quarter (expected 0.6%; last 0.4%); +4.0% year-over-year (consensus 2.5%; last 1.5%). Q2 GDP Capital Expenditure +2.4% quarter-over-quarter (expected 1.2%; last 0.9%) and Q2 GDP External Demand -0.3% quarter-over-quarter, as expected (last 0.1%)
India's July WPI Inflation 1.88% year-over-year (consensus 1.30%; last 0.90%). July WPI Manufacturing Inflation 2.18% year-over-year (last 2.27%)
New Zealand's Q2 Retail Sales +2.0% quarter-over-quarter (expected 0.7%; last 1.6%) and Core Retail Sales +2.1% quarter-over-quarter (last 1.5%)
In news:
The weekend went by without any major changes related to North Korea. South Korea's Finance Minister Kim Dong-yeon said that tensions are impacting global markets due to a perception that the current situation is more severe than in the past.
The United States is expected to launch an investigation into alleged intellectual property theft by China.
China announced it will stop importing North Korean coal, iron ore, and fish.

Major European indices trade higher across the board, recouping a portion of last week's losses. UK's FTSE +0.6%, France's CAC +1.0%, Germany's DAX +1.1%, Spain's IBEX +1.5%.
In economic data:
Eurozone June Industrial Production -0.6% month-over-month (expected -0.5%; last 1.2%); +2.6% year-over-year (consensus 2.8%; last 3.9%)
In news:
Britain's former Foreign Secretary David Miliband argued for a second referendum to approve the final Brexit deal. UK's Brexit Minister David Davis has urged all parties to move past starter issues to advance the negotiations.
Italy's Banca Monte dei Paschi di Siena reported a second quarter loss of EUR3.20 billion.

05:55AM ET

[BRIEFING.COM] S&P futures vs fair value: +14.30. Nasdaq futures vs fair value: +38.60.
05:55AM ET

[BRIEFING.COM] Nikkei

...19537...-192.60

...-1.00%

Hang Seng

...27250...+366.70

...+1.40%

05:55AM ET

[BRIEFING.COM] FTSE

...7350.97...+41.00

...+0.60%

DAX

...12145...+130.60

...+1.10%

04:30PM ET

[BRIEFING.COM] The stock market's three-day slide came to an end on Friday, but just barely, as the S&P 500 (+0.1%) eked out a narrow victory. The Dow (+0.1%) finished in line with the benchmark index while the Nasdaq outperformed, advancing 0.6%. For the week, the S&P 500 lost 1.4%.

Geopolitical tensions continued to linger on Friday, pushing both European and Asian markets lower and keeping gains on Wall Street in check. President Trump issued another statement regarding the ongoing situation with North Korea, saying "[m]ilitary solutions are now fully in place, locked and loaded, should North Korea act unwisely."

However, the market's anxiety was obviously dialed back a bit as the CBOE Volatility Index (VIX 15.52, -0.52) declined 3.2%, retreating from the four-month high it posted on Thursday. Conversely, U.S. Treasuries moved higher once again, but the rally had more to do with another tepid inflationary reading than with geopolitical concerns.

Both the Consumer Price Index and the core Consumer Price Index, which excludes food and energy, increased 0.1% in July. Those monthly readings were below expectations--the Briefing.com consensus anticipated an increase of 0.2% for both--and left the CPI up 1.7% year-over-year, versus 1.6% in June, and the core CPI up 1.7%, unchanged from June.

The Fed will like that there wasn't any further deterioration in consumer inflation trends, yet with its preferred PCE Price Index up just 1.4% year-over-year in June, today's CPI report isn't going to change the prevailing belief that the Fed will want to take more time to determine if inflation is picking up toward its 2.0% target on a sustained basis.

Treasuries moved higher across the curve, but buying was heaviest at the front end; the 2-yr yield dropped four basis points to 1.29% while the 10-yr yield slipped two basis points to 2.19%. Meanwhile, the U.S. Dollar Index (92.95, -0.35) lost 0.4% as the greenback dropped 0.5% against the euro to 1.1825 and 0.3% against the pound to 1.3019.

As for the equity market, the S&P 500's most influential sectors--technology (+0.8%) and financials (-0.5%)--battled each other from opposite ends of the leaderboard. The tech group benefited from broad strength with mega-cap names like Apple (AAPL 157.48, +2.16) and Microsoft (MSFT 72.50, +1.09) showing particular resolve. The two names advanced 1.4% and 1.5%, respectively.

NVIDIA (NVDA 155.96, -8.78) was one of the few laggards in the tech space, dropping 5.3% despite beating both top and bottom line estimates and raising its revenue guidance for the third quarter. However, the good news was likely priced in ahead of the report as the chipmaker did come into Friday's session with an impressive year-to-date gain of 54.3%.

Elsewhere on the earnings front, Snap (SNAP 11.83, -1.94) plunged 14.1% after reporting worse than expected earnings, revenues, and daily active users. Following Friday's slide, the social media company now sits 59.8% below its all-time high of $29.44 per share, which it posted shortly after its IPO in early March.

In total, five sectors--technology (+0.8%), consumer discretionary (+0.5%), health care (+0.3%), industrials (+0.1%), and consumer staples (+0.1%)--finished in the green while six sectors--energy (-0.7%), utilities (-0.6%), real estate (-0.6%), financials (-0.5%), materials (-0.2%), and telecom services (-0.1%)--finished in the red.

Looking ahead, investors will not receive any economic data of note on Monday.

Nasdaq Composite +16.2% YTD
Dow Jones Industrial Average +10.6% YTD
S&P 500 +9.0% YTD
Russell 2000 +1.3% YTD

Week In Review: Wall Street Slips Alongside U.S.-North Korea Relations

Wall Street took it to the chin this week as a war of words between the U.S. and North Korea prompted investors to take some profits on the heels of the stock market's most recent run to new record highs. Small caps paced the retreat, sending the Russell 2000 lower by 2.7%. The benchmark S&P 500 dropped 1.4% while the Dow (-1.1%) did a little better and the Nasdaq (-1.5%) did a little worse.

After closing Monday at record highs, the S&P 500 and the Dow showed no signs of slowing down on Tuesday morning, further extending their all-time intraday highs. But then sentiment began to shift. The major averages retraced the bulk of their gains as the heavily-weighted financial sector, which led the early rally on Tuesday, began to weaken. Then a second wave of selling took Wall Street into the red.

The second round of selling followed a statement from President Trump, in which he warned that North Korea will be "met with fire and fury like the world has never seen" if it continues to threaten action against the United States. Mr. Trump's comment came just a few hours after the Washington Post reported that North Korea now has the capability to load its missiles with miniaturized nuclear warheads.

Selling extended into Wednesday's session after Pyongyang responded to President Trump's Tuesday comment by saying that it's examining a plan to send missiles towards the U.S. territory of Guam. However, it's important to note that selling on Tuesday and Wednesday was very modest, leaving the S&P 500 with a two-day loss of just 0.3%.

That changed on Thursday though as investors began selling with conviction, sending the S&P 500 lower by 1.5%. While the jawboning between the U.S. and North Korea certainly threw the bulls off balance, Thursday's slide, which marked the S&P 500's worst one-day loss since May, pointed to a market that was probably overdue for a pullback following yet another run to new record highs.

In other words, the U.S.-North Korea spat certainty didn't help investor sentiment, but, more than anything, it provided a convenient excuse for investors to take some money off the table.

Boosted by another lukewarm inflationary reading and an ever-persistent "buy the dip" mentality, the bulls won out on Friday, pushing the stock market slightly higher. The Consumer Price Index ticked up just 0.1% in July, missing the Briefing.com consensus of +0.2%. The Fed prefers the PCE Price Index, but it's clear that the latest CPI reading didn't help the case for a third rate hike in 2017.

The fed funds futures market now points to the June FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 57.5%. Last week, the market expected the next rate hike to occur in December with an implied probability of 50.4%.

It's also worth pointing out that the CBOE Volatility Index (VIX) spiked 5.5 points, or 54.7%, this week after drifting near an all-time low from mid-July to early August. The VIX shows what kind of a move, in percentage terms, the market is pricing in for a one-month period from the spot reading. The index is derived from near-dated options on the S&P 500.

Dow: +14.31… | Nasdaq: +39.68… | S&P: +3.11…

NASDAQ Adv/Dec 1440/1352. …NYSE Adv/Dec 1574/1386.

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

Trade Strategies via Volatility Analysis @ http://www.thestrategylab.com/VolatilityTrading.htm

Review of TheStrategyLab @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167

TheStrategyLab Review @ http://www.thestrategylab.com/thestrategylab-reviews.htm

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
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)
@ http://twitter.com/wrbtrader @ http://stocktwits.com/wrbtrader

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