TheStrategyLab.com Price Action Trading Support Forum

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
wrbtrader (more info about me): http://www.thestrategylab.com/wrbtrader.htm
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
TheStrategyLab Reviews: http://www.thestrategylab.com/thestrategylab-reviews.htm
Price Action Trading: http://www.thestrategylab.com/price-action-trading.htm
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)


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

Price Action Trade Performance for Today: Emini RTY ($RTY_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $1312.50 dollars or +26.25 points, Light Crude Oil CL ($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 @ $1312.50 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. The risk of loss can be substantial. Therefore, you must carefully consider if trading is suitable for you within the context of your financial condition. TheStrategyLab.com is an education and research site. The resources on this site are provided for informational purposes only and should not be used to replace professional educational and professional research because we are retail traders only. TheStrategyLab.com does not accept liability for your use of the website and its resources.

We make no guarantees of success and your level of success is dependent upon other factors including your skill as a trader, knowledge, financial condition, market conditions and other factors. Trading is stressful and you should always consult a doctor in all matters relating to physical and mental health of you and your family because trading can impact beyond your financial condition regardless if you're a profitable or losing trader.

Russell 2000 Emini RTY Futures: 1 tick or 0.10 = $5.00 dollars and there's more contract information @ CMEGroup (formerly as TF @ The ICE)
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=173&t=2693

All of my trades are posted real-time at the above link for today's archive chat log in the timestamp ##TheStrategyLab free chat room via the user name wrbtrader for anyone to do a real-time review (you must be a member of the chat room for a real-time review). Although the trades are posted by me and other users of WRB Analysis in real-time...this is not a signal calling chat room nor is this a live trading room that has a head trader telling you what to do. I'm the moderator (I keep the peace between members) and my own live trades are posted within 3.2 seconds on average after the trade confirmation in my broker trade execution platform via an auto script to minimize delays in posting of my trades. You can review today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility...all key concepts from the WRB Analysis free study guide even though the free chat room is not design to be an education chat room because the education is only performed at the forums in the private threads.


##TheStrategyLab Chat Room is free. The free chat room is not a signal calling trading room nor is it a live trading room with a head trader even though members of the chat room are posting their trades & market analysis in real-time. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of TheStrategyLab free chat room is for you to use as your trade journal so that you can use as valuable feedback about your own trading and for members to help each other...as in more eyes on the market. In addition, we highly recommend that you use the free chat room with a professional trade journal software like tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because they can provide you with the quantitative statistical analysis of your trading. You can then download your results and post them in your private thread at the forum.

Also, you can use TheStrategyLab free chat room to ask real-time WRB Analysis questions. Yet, please do not post your quantitative statistical analysis, brokerage statements in the free chat room. Instead, its highly recommended that you only post that particular information in your private thread for security reasons. Yet, if you want to post that type of information at another website, blog or chat room...that's your choice.

TheStrategyLab free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages, many different mobile apps, many different types of social media software can be used to log in along with IRC being easier to moderate via script codes when trouble makers, spammers and trolls show up. I'm the moderator of the free chat room via the user name wrbtrader. Thus, I keep the peace between members without hesitation in removing problematic traders so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled or harassed.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell nor do we allow the free chat room to be used for mentoring because we do not offer a mentoring service. The purpose of TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. If you join the free chat room and then you decide to not post any WRB Analysis about the price action or you decide to not post your trades or you decide to be silent (lurk without saying a word about today's markets)...you're not using the free chat room properly to help improve your trading.

In fact, we do not want silent (lurkers) traders to join the free chat room unless they are actively posting at the forum about their trading after the markets close. Access instructions for the free chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164


Also, posted below for you to review are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

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

Analysis -----> Trade Signals

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

Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=333&t=3556 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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

Market Context Summaries

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


click on the above image to view today's price action of key markets

The Market at 04:30PM ET
Dow: +17.49… | Nasdaq: +6.66… | S&P: +2.54…
NASDAQ Vol: 1.97 bln… Adv: 1353… Dec: 1482…
NYSE Vol: 791.5 mln… Adv: 1285… Dec: 1641…

Moving the Market

Stocks hold steady following back-to-back declines

General Electric (GE) slashes quarterly dividend, lowers guidance for 2018

Sector Watch
Strong: Consumer Discretionary, Materials, Consumer Staples, Utilities, Real Estate
Weak: Industrials, Energy

04:30PM ET

[BRIEFING.COM] Stocks crept toward record highs on Monday, ending a two-session losing streak. The S&P 500, the Nasdaq, and the Dow added 0.1% apiece.

With the third quarter earnings season nearly in the books, investors continued to chew on the prospect of tax reform. The House is expected to vote on its version of a tax reform bill this Thursday, but, even if the bill passes, the lower chamber still has some work to do in order to reconcile its version with the version that the Senate unveiled last week.

The two versions must match and be approved by both chambers in order to put the bill on President Trump's desk.

The S&P 500's utilities sector was the best-performing group on Monday, finishing with a gain of 1.2%, followed from a distance by the consumer staples (+0.6%), materials (+0.5%), and consumer discretionary (+0.3%) groups. In total, seven of the eleven sectors settled in positive territory, but General Electric (GE 19.02, -1.47) kept the upbeat sentiment in check.

GE shares dropped 7.2%, hitting a fresh five-year low, after the company cut its divided by half and dialed back its profit forecast for 2018. The dividend cut was expected by many and was deemed necessary by new CEO John Flannery in order to restructure the 125-year-old industrial giant. Following Monday's decline, GE shares are down 39.8% year to date.

In other corporate news, toymaker Mattel (MAT 17.64, +3.02) spiked 20.7% following weekend reports that rival Hasbro (HAS 96.83, +5.38) has made a bid to acquire the company; Hasbro shares also moved higher, adding 5.9%. The reported bid comes two weeks after a disappointing third quarter earnings report for Mattel and at a time when MAT shares are challenging their lowest level since 2009.

Meanwhile, pharmacy retailers like CVS Health (CVS 71.48, +0.49) breathed a sigh of relief after Amazon (AMZN 1129.17, +3.82) announced that it plans to use recently obtained state pharmacy licenses to sell medical devices and supplies, not prescriptions--as was previously rumored. CVS shares climbed 0.7%.

In the bond market, U.S. Treasuries kicked off the week on a mostly flat note, with the yield on the benchmark 10-yr Treasury note finishing unchanged at 2.40%. Shorter-dated issues showed relative weakness, however, leaving the 2-yr yield higher by three basis points at 1.69%.

Elsewhere, the Euro Stoxx 50 (-0.4%) moved lower for the sixth session in a row, while equities in the Asia-Pacific region ended Monday mixed with Japan's Nikkei (-1.3%) showing relative weakness. In the UK, 40 Conservative members of parliament have reportedly agreed to sign a letter of no confidence against Prime Minister Theresa May--just eight members shy of forcing a leadership vote.

Reviewing Monday's economic data, which was limited to the October Treasury Budget:

The Treasury Budget for October showed a deficit of $63.2 billion versus a deficit of $45.8 billion for October 2016.
The Treasury Budget data is not seasonally adjusted, so the June deficit cannot be compared to the $8.0 billion surplus registered in September.

On Tuesday, investors will receive just one notable economic report--the Producer Price Index for October (Briefing.com consensus +0.1%)--which will be released at 8:30 ET. The NFIB Small Business Optimism Index for October will cross the wires at 7:00 ET, but is not expected to have much impact on the financial markets.

Nasdaq Composite +25.5% YTD
Dow Jones Industrial Average +18.6% YTD
S&P 500 +15.5% YTD
Russell 2000 +8.7% YTD

Dow: +17.49… | Nasdaq: +6.66… | S&P: +2.54…

NASDAQ Adv/Dec 1353/1482. …NYSE Adv/Dec 1285/1641.

03:35PM ET

[BRIEFING.COM] Commodities end the day higher :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 2.16% at 87.28
Dollar index is currently up 0.11% at 94.49
Oct WTI Crude is down 0.04% on the day.
Futures settle $0.02 lower to $56.72/barrel.
In other energy, Dec Natural Gas settled down $0.07 at $3.14/MMBtu
On the metals:
Dec Gold gained $4.80 to settle at $1279.00/oz, while Dec silver gained $0.17 to $17.04/oz
Dec Copper gained $0.03 to $3.11/lb
Finally, agriculture:
Dec Corn settled unchanged at $3.42/bu.
Dec Soy settled up $0.0125 at $9.7525/bu.
Dec Wheat settled up $0.01 at $4.25/bu.

Dow: +18.54… | Nasdaq: +3.56… | S&P: +1.55…

NASDAQ Adv/Dec 1447/1474. …NYSE Adv/Dec 1311/1611.

03:05PM ET

[BRIEFING.COM] Equity indices are clinging to slim gains moving into the final hour of action. The S&P 500, the Nasdaq, and the Dow are up 0.1% apiece.

The lightly-weighted utilities space (+1.1%) holds a comfortable lead this afternoon, with electrical power generator and distributor AES (AES 10.80, +0.57) pacing the advance. AES shares are up 5.5% after being upgraded to 'Buy' from 'Neutral' at Bank of America/Merrill Lynch. The consumer staples space (+0.6%) is trading a ways behind the utilities group in second place on the day's leaderboard.

Looking ahead, investors will receive quarterly earnings from Home Depot (HD 165.98, +1.87) and TJX (TJX 70.39, +0.16) on Tuesday morning. Also of note, the core Producer Price Index for October (Briefing.com consensus +0.2%) will be released tomorrow at 8:30 ET.

Dow: +26.42… | Nasdaq: +8.00… | S&P: +2.79…

NASDAQ Adv/Dec 1410/1518. …NYSE Adv/Dec 1289/1636.

02:25PM ET

[BRIEFING.COM] The major indices are still slightly higher, with the S&P 500 sporting a gain of 0.1%.

Nine sectors trade in the green this afternoon--utilities (+1.2%), consumer staples (+0.6%), materials (+0.5%), real estate (+0.4%), consumer discretionary (+0.4%), financials (+0.2%), telecom services (+0.1%), health care (unch), and technology (unch)--while two trade in the red--energy (-0.5%) and industrials (-0.6%).

In the bond market, Treasuries are mixed with shorter-dated issues showing relative weakness; the yield on the benchmark 10-yr Treasury note is down one basis point at 2.39%, while the 2-yr yield is up two basis points at 1.68%.

Dow: +32.38… | Nasdaq: +8.38… | S&P: +3.16…

NASDAQ Adv/Dec 1419/1499. …NYSE Adv/Dec 1279/1631.

02:00PM ET

[BRIEFING.COM] Equity indices continue hovering just a tick above their unchanged marks.

Just in, the Treasury Budget for October showed a deficit of $63.2 billion versus a deficit of $45.8 billion for October 2016. The Treasury Budget data is not seasonally adjusted, so the June deficit cannot be compared to the $8.0 billion surplus registered in September.

Dow: +27.61… | Nasdaq: +6.46… | S&P: +2.65…

NASDAQ Adv/Dec 1417/1497. …NYSE Adv/Dec 1294/1590.

01:30PM ET

[BRIEFING.COM] The major U.S. indices continue to trade sideways as stocks hold firm with marginal gains to start the trading week.

A look inside the Dow Jones Industrial Average shows that McDonald's (MCD 167.74, +2.15). Home Depot (HD 166.06, +1.95), & Procter & Gamble (PG 89.03, +0.87) are outperforming.

Conversely, General Electric (GE 18.88, -1.61) is the worst-performing Dow component as shares plummet after the company held its highly-anticipated investor day, in which it highlighted its turnaround efforts, provided downside guidance for FY18, and confirmed investors long-time fears by slashing the dividend by 50%.

With stocks having recovered from this morning's losses, the DJIA is now up 18.6% this year.

Dow: +16.37… | Nasdaq: +2.91… | S&P: +1.47…

NASDAQ Adv/Dec 1320/1580. …NYSE Adv/Dec 1240/1642.

01:05PM ET

[BRIEFING.COM] Stocks opened Monday's session with modest losses, but quickly began moving toward their flat lines. At midday, the S&P 500, the Dow, and the Nasdaq hold slim gains of 0.1% apiece.

Outside of some individual corporate headlines, today's session has been pretty quiet overall. Most of the 11 sectors trade roughly in line with the broader market, with the exception of the utilities (+1.1%) and consumer staples (+0.6%) groups--which show relative strength--and the industrials (-0.5%) and energy (-0.3%) spaces--which exhibit relative weakness.

Within the industrial sector, General Electric (GE 19.05, -1.44) is the weakest component after the company cut its divided by half and dialed back its profit forecast for 2018. The dividend cut was expected by many and was deemed necessary by new CEO John Flannery in order to restructure the 125-year-old industrial giant. GE shares are down 7.2% today and 39.7% for the year.

In other corporate news, toymaker Mattel (MAT 17.65, +3.03) has surged 20.8% following weekend reports that rival Hasbro (HAS 97.46, +6.01) has made a bid to acquire the company. The bid comes two weeks after a disappointing third quarter earnings report for Mattel and at a time when MAT shares are challenging their lowest level since 2009.

Retailers are broadly lower today, evidenced by the 1.3% decline in the SPDR S&P 500 Retail ETF (XRT 39.65, -0.53), as investors prepare for a large batch of retail earnings this week.

Home Depot (HD 165.59, +1.49) and TJX (TJX 70.14, -0.08) are scheduled to report on Tuesday, followed by Target (TGT 60.20, -1.20) and L Brands (LB 48.75, -0.91) on Wednesday, Wal-Mart (WMT 91.68, +0.76), Best Buy (BBY 56.59, -0.09), Gap (GPS 26.39, -0.83), and Ross Stores (ROST 64.77, -1.00) on Thursday, and Abercrombie & Fitch (ANF 12.36, -0.20) on Friday.

In the bond market, U.S. Treasuries got off to a good start this morning, but are now trading little changed. The yield on the benchmark 10-yr Treasury note is flat at 2.40% after trading as low as 2.37% early this morning. Yields move inversely to prices.

Elsewhere, European equities kicked off the week on a down note, sending the Euro Stoxx 50 (-0.4%) lower for the sixth session in a row. The UK's FTSE (-0.2%) held up relatively well, despite reports that 40 Conservative members of parliament have agreed to sign a letter of no confidence against Prime Minister Theresa May--just eight members shy of forcing a leadership vote.

Meanwhile, stocks in the Asia-Pacific region opened the week mixed, with Japan's Nikkei (-1.3%) retreating from the 26-year high it tested last week.

Today's lone economic report--the October Treasury Budget--will be released this afternoon at 14:00 ET.

Dow: +24.41… | Nasdaq: +3.95… | S&P: +1.93…

NASDAQ Adv/Dec 1313/1588. …NYSE Adv/Dec 1233/1657.

12:25PM ET

[BRIEFING.COM] The major U.S. indices hold slim gains this afternoon, with the S&P 500 higher by 0.1%.

European equities kicked off the week on a down note, sending the Euro Stoxx 50 (-0.4%) lower for the sixth session in a row. The UK's FTSE (-0.2%) held up relatively well, despite reports that 40 Conservative members of parliament have agreed to sign a letter of no confidence against Prime Minister Theresa May--just eight members shy of forcing a leadership vote.

Meanwhile, stocks in the Asia-Pacific region opened the week mixed, with Japan's Nikkei (-1.3%) showing relative weakness, retreating from the 26-year high it tested last week.

Dow: +20.04… | Nasdaq: +5.10… | S&P: +1.91…

NASDAQ Adv/Dec 1326/1555. …NYSE Adv/Dec 1220/1639.

11:55AM ET

[BRIEFING.COM] Equity indices continue to hover just a tick above their unchanged marks.

The third quarter earnings season is winding down, but there are still quite a few retailers that have yet to report their quarterly results. Home Depot (HD 166.00, +1.83) and TJX (TJX 70.84, +0.62) are scheduled to report on Tuesday, followed by Target (TGT 60.82, -0.57) and L Brands (LB 49.41, -0.25) on Wednesday, Wal-Mart (WMT 91.79, +0.87), Best Buy (BBY 56.96, +0.28), Gap (GPS 26.76, -0.47), and Ross Stores (ROST 65.41, -0.35) on Thursday, and Abercrombie & Fitch (ANF 12.50, -0.06) on Friday.

Retailers are broadly lower in today's session, evidenced by the SPDR S&P Retail ETF (XRT 39.98, -0.21), which is down 0.6%.

Dow: +14.41… | Nasdaq: +5.13… | S&P: +1.33…

NASDAQ Adv/Dec 1329/1536. …NYSE Adv/Dec 1174/1672.

11:25AM ET

[BRIEFING.COM] The major U.S. indices have been ticking higher over the last 30 minutes, climbing to new session highs. The S&P 500 is up 0.1%.

Toymaker Mattel (MAT 17.72, +3.11) has surged 20.7% following news that rival Hasbro (HAS 97.34, +5.82) has made a bid to acquire the company. Before today's advance, shares of Mattel were hovering near their lowest level since April 2009 and held a year-to-date loss of around 47.0%. Conversely, shares of Hasbro were up around 17.5% for the year as of Friday's close.

The S&P 500's consumer discretionary sector, which houses the aforementioned names, trades higher by 0.3%. Elsewhere within the group, Home Depot (HD 165.57, +1.45) and TJX (TJX 71.27, +1.05) are up 1.0% and 1.5%, respectively, ahead of their Tuesday earnings releases.

Dow: +8.72… | Nasdaq: +1.59… | S&P: +0.86…

NASDAQ Adv/Dec 1203/1649. …NYSE Adv/Dec 1133/1675.

10:55AM ET

[BRIEFING.COM] Stocks have reclaimed much of their opening losses in recent action, bringing the S&P 500 (unch) back to its unchanged mark.

The consumer staples sector (+0.5%) is trading at the top of today's sector standings, followed closely by the lightly-weighted utilities space (+0.4%). Within the consumer staples group, heavyweights like Wal-Mart (WMT 91.84, +0.93) and Procter & Gamble (PG 89.24, +1.08) are among the strongest components, sporting respective gains of 1.0% and 1.2%. Meanwhile, Tyson Foods (TSN 75.11, +0.97) is up 1.2% after beating earnings and revenue expectations for its fiscal fourth quarter.

Conversely, the industrial space (-0.5%) is the weakest group, with General Electric (GE 19.65, -0.83) leading the retreat. GE shares are down 4.1%, hitting their lowest level in more than five years, after the industrial giant cut its dividend by half and slashed its 2018 profit forecast.

Dow: -5.46… | Nasdaq: -5.06… | S&P: -0.90…

NASDAQ Adv/Dec 1106/1736. …NYSE Adv/Dec 1073/1709.

10:30AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently higher 0.24% at 87.4866
Dollar index is currently up 0.08% at 94.47
Dec WTI crude is up 0.32% on the day.
Futures are $0.18 higher to $56.92/barrel.
In other energy, Dec natural gas is unchanged at $3.21/MMBtu
Metals:
Dec gold gained $3.60 and trades at $1277.80/oz, while Dec silver gained $0.12 to $16.99/oz
Dec copper gained 0.05 to $3.13/lb
Finally, agriculture:
Dec corn is down $0.02 at $3.42/bu.
Dec soy is unchanged at $9.87/bu.
Dec wheat is down $0.08 at $4.24/bu.

Dow: +19.64… | Nasdaq: +0.9… | S&P: +0.8…

NASDAQ Adv/Dec 1197/1619. …NYSE Adv/Dec 1143/1609.

10:00AM ET

[BRIEFING.COM] The Dow Jones Industrial Average (-0.1%) is trading just a tick below its flat line.

Within the Dow, General Electric (GE 19.87, -0.61) is by far the weakest component, showing a loss of 3.0%. The industrial giant announced that it will be reducing its quarterly divided by 50% to $0.12 per share and lowered its earnings outlook for fiscal year 2018.

Conversely, Procter & Gamble (PG 89.32, +1.15) is the Dow's top performer as consumer discretionary stocks are rallying in today's session. PG shares are up 1.3%.

Dow: -4.11… | Nasdaq: -10.92… | S&P: -2.57…

NASDAQ Adv/Dec 1033/1736. …NYSE Adv/Dec 1002/1663.

09:40AM ET

[BRIEFING.COM] The major U.S. stock indices are trading modestly lower in the opening minutes of today's session, with the S&P 500 showing a loss of 0.2%.

More than half of the 11 sectors are trading in the red this morning. The financials (-0.5%), energy (-0.5%), and industrial (-0.6%) sectors are the weakest groups, while the consumer staples (+0.5%), utilities (+0.2%), and real estate (+0.6%) spaces are the strongest.

In the bond market, U.S. Treasuries are mixed with shorter-dated issues showing relative weakness. The yield on the benchmark 10-yr Treasury note is down two basis points at 2.38%, while the 2-yr yield is up one basis point at 1.67%.

Dow: -54.94… | Nasdaq: -24.74… | S&P: -6.62…

NASDAQ Adv/Dec 757/1978. …NYSE Adv/Dec 771/1831.

09:16AM ET

[BRIEFING.COM] S&P futures vs fair value: -9.50. Nasdaq futures vs fair value: -27.10.

The equity market is on track to open today's session modestly lower as the S&P 500 futures trade ten points, or 0.4%, below fair value.

Elsewhere, the Euro Stoxx 50 is down 1.0%, but the UK's FTSE (-0.3%) is holding up relatively well despite reports that 40 members of parliament from Prime Minister May's Conservative Party have agreed to sign a letter of no confidence against her--just eight shy of the 48 required to force a leadership vote.

Meanwhile, equity indices in the Asia-Pacific region began the week on a mixed note with Japan's Nikkei (-1.3%) showing relative weakness.

In U.S. corporate news, General Electric (GE 20.18, -0.31) is down 1.5% after announcing a plan to reduce its quarterly dividend by 50% to $0.12 per share. Conversely, Mattel (MAT 17.96, +3.35) has spiked 22.9% following a report that Hasbro (HAS 95.12, +3.67) has made a takeover offer for the company.

U.S. Treasuries are rallying this morning, sending yields lower across the curve; the yield on the benchmark 10-yr Treasury note is down two basis points at 2.38%.

Today's lone economic report--the October Treasury Budget--will be released this afternoon at 14:00 ET.

08:51AM ET

[BRIEFING.COM] S&P futures vs fair value: -7.30. Nasdaq futures vs fair value: -20.40.

The S&P 500 futures trade seven points, or 0.3%, below fair value.

Equity indices in the Asia-Pacific region began the week on a mixed note with Japan's Nikkei (-1.3%) showing relative weakness after enduring a shaky end to the previous week. Chinese debt remained pressured, lifting China's 10-yr yield to a fresh three-year high of 3.97%. Weekend reports indicated that an agreement on Trans-Pacific Partnership is near, but there has been pushback from Canada and New Zealand. New Zealand, however, is set to implement a revised version of the deal despite opposition from its Green Party. Reserve Bank of Australia Assistant Governor Guy Debelle said that non-mining business investment has been on the rise in the past couple years.

In economic data:
China's October New Loans CNY663.20 billion (expected CNY780.00 billion; last CNY1.27 trillion). October M2 Money Stock +8.8% year-over-year (consensus 9.2%; last 9.2%) and October Outstanding Loan Growth +13.0% year-over-year (consensus 13.1%; last 13.1%)
Japan's October PPI +0.3% month-over-month (expected 0.1%; last 0.2%); +3.4% year-over-year (consensus 3.1%; last 3.0%). October Machine Tool Orders +49.9% year-over-year (last 45.0%)
South Korea's October Import Price Index +6.8% year-over-year (last 10.8%) and Export Price Index +8.0% year-over-year (last 11.2%)

---Equity Markets---

Japan's Nikkei lost 1.3%. Chiyoda, Mitsubishi Logistics, Mitsui Fudosan, NGK Insulators, Nippon Express, Pacific Metals, Fast Retailing, and Taisei lost between 2.7% and 8.3%.
Hong Kong's Hang Seng added 0.2%. AIA Group jumped 6.3% while Apple supplier AAC Technologies spiked 5.8%. Geely Automobile gained 1.0% while Cathay Airways and Kunlun Energy posted respective losses of 1.3% and 4.1% after it was reported the two names will be removed from the index. Country Garden and Sunny Optical Technology will replace Cathay Airways and Kunlun Energy.
China's Shanghai Composite rose 0.4%. Lingyuan Iron & Steel, Shanghai Feilo Acoustics, Shanghai Belling, Anhui Conch Cement, Hisense Electric, and Hangzhou Silan Microelectronics advanced between 5.9% and 7.2%.
India's Sensex surrendered 0.8% amid losses in most components. Adani Ports fell 4.1% while financials like ICICI Bank, AXIS Bank, SBI, and HDFC Bank lost between 0.1% and 1.4%. On the upside, Tata Consultancy gained 2.1%.

Major European indices trade in negative territory with France's CAC (-1.1%) displaying relative weakness while the UK's FTSE (-0.3%) outperforms despite continued questions about the strength of British leadership. Reports indicate that 40 British MPs are willing to sign a letter of no confidence in Theresa May, just short of 48 signatures required to force a leadership vote. Brexit minster David Davis said the UK will not have to present a settlement offer to advance to the second stage of Brexit talks.

In economic data:
Germany's October WPI 0.0% month-over-month (expected 0.4%; last 0.6%); +3.0% year-over-year (last 3.4%)

---Equity Markets---

UK's FTSE is lower by 0.3% with consumer names among the laggards. Kingfisher, Dixons Carphone, Imperial Brands, Next, Burberry, and Marks & Spencer show losses between 0.9% and 4.0%. On the upside, Royal Dutch Shell and BP hold respective gains of 0.8% and 0.5%.
Germany's DAX trades down 0.9% amid losses in most components. Thyssenkrupp, Commerzbank, Volkswagen, Bayer, Daimler, SAP, and BMW sport losses between 0.8% and 2.7%. Merck outperforms, rising 0.5%.
France's CAC has given up 1.1%. STMicroelectronics, Carrefour, TechnipFMC, and ArcelorMittal are all down near 2.0% while financials BNP Paribas, Credit Agricole, and Societe Generale are down between 0.8% and 1.6%.

08:26AM ET

[BRIEFING.COM] S&P futures vs fair value: -7.30. Nasdaq futures vs fair value: -20.40.

The S&P 500 futures trade seven points, or 0.3%, below fair value.

Stocks have moved broadly higher in November, evidenced by the S&P 500, which is up 0.3% month to date. Energy, consumer staples, and real estate have been the top-performing sectors thus far, adding 2.1%, 2.2%, and 4.0%, respectively. Meanwhile, financials (-2.0% MTD), industrials (-0.7% MTD), telecom services (-2.9% MTD), and materials (-1.5% MTD) have underperformed.

U.S. Treasuries are roughly flat for the month, with the yield on the benchmark 10-yr Treasury note unchanged from its October 31 closing level (2.38%).

08:05AM ET

[BRIEFING.COM] S&P futures vs fair value: -6.90. Nasdaq futures vs fair value: -16.50.

Stocks snapped an eight-week winning streak on Friday and are on track to open today's session in negative territory; the S&P 500, Dow, and Nasdaq futures are all hovering 0.3% below fair value. Still, the U.S. equity market is trading just a tick below its all-time high despite the recent struggles.

Elsewhere, the Euro Stoxx 50 is down 0.8%, while equity indices in the Asia-Pacific region began the week on a mixed note.

At this point in the third quarter earnings season, more than 90% of S&P 500 companies have reported their quarterly results. However, there are still a handful of notable names due to report this week, including Home Depot (HD) and TJX (TJX) on Tuesday, Target (TGT) and Cisco Systems (CSCO) on Wednesday, and Wal-Mart (WMT) on Thursday to name a few.

As for economic data, investors will receive several influential reports this week, including the October Producer Price Index (Briefing.com consensus +0.1%) on Tuesday, the October Consumer Price Index (Briefing.com consensus +0.1%) and October Retail Sales (Briefing.com consensus +0.1%) on Wednesday, and October Housing Starts (Briefing.com consensus 1198K) on Friday.

Today's lone economic report--the October Treasury Budget--will be released this afternoon at 14:00 ET.

Outside the equity market, U.S. Treasuries are rallying this morning, sending yields lower across the curve; the yield on the benchmark 10-yr Treasury note is down three basis points at 2.37%. Meanwhile, WTI crude futures are up 0.2% at $56.83/bbl, the U.S. Dollar Index is higher by 0.1% at 94.41, and the CBOE Volatility Index (VIX 11.84, +0.55) is up 4.9%.

In U.S. corporate news:

Mattel (MAT 18.20, +3.58): +24.5% following a report that Hasbro (HAS 94.51, +3.06) has made a takeover offer for the company.
General Electric (GE 20.64, +0.15): +0.7% after announcing that it will cut its quarterly dividend by 50%, as expected.
Qualcomm (QCOM 64.47, -0.10): -0.2% following a report that it's drafting a plan to reject Broadcom's (AVGO 264.39, -0.57) acquisition offer.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mixed note. Japan's Nikkei -1.3%, Hong Kong's Hang Seng +0.2%, China's Shanghai Composite +0.4%, India's Sensex -0.8%.
In economic data:
China's October New Loans CNY663.20 billion (expected CNY780.00 billion; last CNY1.27 trillion). October M2 Money Stock +8.8% year-over-year (consensus 9.2%; last 9.2%) and October Outstanding Loan Growth +13.0% year-over-year (consensus 13.1%; last 13.1%)
Japan's October PPI +0.3% month-over-month (expected 0.1%; last 0.2%); +3.4% year-over-year (consensus 3.1%; last 3.0%). October Machine Tool Orders +49.9% year-over-year (last 45.0%)
South Korea's October Import Price Index +6.8% year-over-year (last 10.8%) and Export Price Index +8.0% year-over-year (last 11.2%)
In news:
Weekend reports indicated that an agreement on Trans-Pacific Partnership is near, but there has been pushback from Canada and New Zealand. New Zealand, however, is set to implement a revised version of the deal despite opposition from its Green Party.
Reserve Bank of Australia Assistant Governor Guy Debelle said that non-mining business investment has been on the rise in the past couple years.
Chinese debt remained pressured, lifting China's 10-yr yield to a fresh three-year high of 3.97%.

Major European indices trade in negative territory. UK's FTSE -0.1%, Germany's DAX -0.8%, France's CAC -1.0%.
In economic data:
Germany's October WPI 0.0% month-over-month (expected 0.4%; last 0.6%); +3.0% year-over-year (last 3.4%)
In news:
Reports indicate that 40 British MPs are willing to sign a letter of no confidence in Theresa May, just short of 48 signatures required to force a leadership vote. Brexit minster David Davis said the UK will not have to present a settlement offer to advance to the second stage of Brexit talks.


06:05AM ET

[BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -3.00.
06:05AM ET

[BRIEFING.COM] Nikkei

...22381...-300.40...-1.30%

Hang Seng

...29182...+61.30...+0.20%

06:05AM ET

[BRIEFING.COM] FTSE

...7443.55...+10.60

...+0.10%

. DAX

...13102.10...-26.10...-0.20%

04:30PM ET

[BRIEFING.COM] Doubts about the future of tax reform continued to linger on Friday, but stocks pared opening losses in the afternoon to leave the major U.S. indices little changed. The S&P 500 and the Dow finished with modest losses of 0.1% and 0.2%, respectively, while the Nasdaq closed just a tick above its unchanged mark.

The Senate's version of a tax reform bill, which was released on Thursday, has created some doubts in the market about the GOP's ability to implement a tax overhaul as it differs from the House's version of a tax reform bill in several key areas--most notably, the Senate's version calls for delaying a cut in the corporate tax rate by one year.

However, it's tough to say that the Senate's tax reform proposal did little more than give investors an excuse to take some profits following yet another string of record highs. One thing is clear, if investors are concerned about the prospect of tax reform, it didn't impact the equity market significantly this week as the S&P 500 finished with a weekly loss of just 0.2%.

On the whole, Friday's session was pretty uneventful. Many banks were closed in honor of Veterans Day, leading to slightly below-average trading volume.

The S&P 500's energy sector (-0.8%) ended the week on a down note as the price of crude oil declined 0.7% to $56.75/bbl. Health care shares also underperformed, sending the health care group lower by 0.9%, but most of the other sectors finished roughly in line with, or above, the broader market.

Pharmacy retailers like CVS Health (CVS 70.99, +1.97) and Walgreens Boot Alliance (WBA 70.99, +1.85) helped push the consumer staples group (+1.0%) to the top of the sector standings, adding 2.9% and 2.7%, respectively, while department store retailer J.C. Penney (JCP 3.17, +0.42) spiked 15.3% after reporting better-than-expected earnings and revenues for its fiscal third quarter.

In other earnings news, chipmaker NVIDIA (NVDA 216.14, +10.82) climbed 5.3%, hitting a new all-time high, after reporting better-than-expected earnings and revenues and issuing above-consensus revenue guidance for the fourth quarter. Meanwhile, Dow component Walt Disney (DIS 104.78, +2.10) added 2.1% despite missing profit and sales estimates.

U.S. Treasuries finished on a broadly lower note, erasing their gains from earlier in the week. The yield on the benchmark 10-yr Treasury note jumped seven basis points to 2.40%--settling near a two-week high--while the 2-yr yield climbed three basis points to 1.66%. Yields move inversely to prices.

Elsewhere, stocks in the Asia-Pacific region ended Friday on a mixed note, with Japan's Nikkei (-0.8%) showing relative weakness, while the Euro Stoxx 50 dropped 0.5%.

Reviewing Friday's economic data, which was limited to the University of Michigan Consumer Sentiment Index for November:

The preliminary reading of the University of Michigan Consumer Sentiment Index for November declined to 97.8 (Briefing.com consensus 100.5) from 100.7 in October.
The key takeaway from the report is that consumers' anticipated wage gains recorded the highest two-month level in a decade.

On Monday, investors will receive just one economic report--the October Treasury Budget--which will be released at 14:00 ET.

Nasdaq Composite +25.4% YTD
Dow Jones Industrial Average +18.5% YTD
S&P 500 +15.3% YTD
Russell 2000 +8.7% YTD

Week In Review: A Taxing Release

Stocks got off to a good start this week, hitting new record highs on Monday and Wednesday, but retraced their gains in the latter half--a move that was nominally attributed to the release of the Senate's tax reform bill. More likely, however, this week's loss was the result of some profit taking following a largely uninterrupted two-month rally. The S&P 500 and the Nasdaq shed 0.2% apiece, while the Dow lost 0.5%.

The financial sector paced this week's retreat, which is fitting considering the group played a leadership role in the market's most recent bullish run; the financial sector jumped 11.4% from September 8 to November 3, while the benchmark S&P 500 added 5.1%. Dow components JPMorgan Chase (JPM) and Goldman Sachs (GS) lost 3.9% and 1.7% this week, respectively.

Industrial shares also struggled, with transports showing particular weakness; the Dow Jones Transportation Average dropped 2.6%.

Meanwhile, the energy sector outperformed, finishing with a gain of 1.1%. The group benefited from an increase in the price of crude oil, which touched its highest level in more than two years; WTI crude futures finished higher by 2.0% at $56.75/bbl. Heightened tensions in the Middle East, which could potentially disrupt crude production in the region, were largely credited for the move.

Saudi Arabia's Crown Prince Mohammad bin Salman ordered the arrests of some of the country's most prominent political and business figures on allegations of corruption. In addition, Saudi Arabia ordered its citizens to leave Lebanon after accusing the country of declaring war, citing the presence of Iranian-backed Hezbollah members within the Lebanon government.

Back in the U.S., earnings season continued this week--albeit with fewer notable companies on the docket--but headlines were focused on M&A developments. Sprint (S) and T-Mobile US (TMUS) lost 7.2% and 3.6%, respectively, after announcing over the weekend that they could not reach a merger agreement.

Meanwhile, chipmaker Broadcom (AVGO) slipped 3.2% after bidding $70 per share (in cash and stock) for Qualcomm (QCOM), which, conversely, ended the week higher by 4.5%. There were also reports that the Department of Justice would require the sale of CNN before it would approve AT&T's (T) acquisition of Time Warner (TWX), but later reports said that claim was false.

Also of note, Walt Disney (DIS) and 21st Century Fox (FOXA) were reportedly in discussions regarding a sale of assets to Disney from Fox in recent weeks.

On the political front, the Senate on Thursday released its version of a tax reform bill, which called for delaying a cut in the corporate tax rate to 20% from 35% by one year and differed from the version that the House unveiled last week in several other key areas--including deductions related to state and local property taxes.

The two chambers will have to hammer out those differences in order to put the bill on the president's desk for approval, and uncertainty surrounding Congress' ability to do just that were cited by some as the main catalyst for Wall Street's weakness in the latter half of the week.

Following this week's events, investors still strongly believe that the Fed will raise rates next month, with the CME FedWatch Tool placing the chances of a December rate hike at 100.0%.

Dow: -39.73… | Nasdaq: +0.89… | S&P: -2.32…

NASDAQ Adv/Dec 1426/1304. …NYSE Adv/Dec 1291/1606.

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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
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TheStrategyLab Price Action Trading
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