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)
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)
Telephone: +1 708 572-4885
wrbanalysis@gmail.com (24/7)
Stocktwits @ http://stocktwits.com/wrbtrader (24/7)
Twitter @ http://twitter.com/wrbtrader (24/7)


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

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis. The risk of loss can be substantial. Therefore, you must carefully consider if trading is suitable for you within the context of your financial condition. 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=2694

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 04:25PM ET
Dow: -30.23… | Nasdaq: -19.72… | S&P: -5.97…
NASDAQ Vol: 1.98 bln… Adv: 1246… Dec: 1483…
NYSE Vol: 842.0 mln… Adv: 1243… Dec: 1703…

Moving the Market

Stocks pull back from record highs as investors take profits, digest tax reform

Energy shares slide, moving in tandem with the price of crude oil

Biotechnology names underperform

Sector Watch
Strong: Utilities, Consumer Staples, Consumer Discretionary
Weak: Industrials, Energy, Materials, Health Care, Telecom Services

04:25PM ET

[BRIEFING.COM] Stocks slipped on Tuesday, retracing all of Monday's slim gains, as investors continued to digest the prospect of tax reform--which has been a stumbling block for the market as of late. The major stock indices modestly added to, and trimmed, their opening losses throughout the day, eventually settling near the top of their trading ranges.

The tech-heavy Nasdaq dropped 0.3%, while the S&P 500 and the Dow lost 0.2% and 0.1%, respectively.

Energy shares showed particular weakness as the price of crude oil continued to retreat from the two-year high it touched at the beginning of the prior week. West Texas Intermediate crude futures declined by 1.9%, settling at a price of $55.70 per barrel. The S&P 500's energy sector finished lower by 1.5%.

The materials (-1.1%) and telecom services (-1.4%) groups also finished with sizable losses, but most other sectors closed roughly in line with, or above, the broader market. The health care space (-0.4%) faced slightly heavier selling as biotechnology shares slipped to a three-month low; the iShares Nasdaq Biotechnology ETF (IBB 305.05, -5.03) lost 1.6%.

Meanwhile, industrial giant General Electric (GE 17.90, -1.12) tumbled another 5.9% following Monday's decision to slash its dividend by 50%.

However, there were a handful of groups that managed to move higher on Tuesday, including the utilities space, which added 1.2%. The rate-sensitive group benefited from increased buying in the Treasury market, which sent yields lower across the curve. The benchmark 10-yr yield dropped two basis points to 2.38%.

The consumer staples (+0.3%) and consumer discretionary (+0.1%) spaces also showed relative strength. Within the consumer discretionary group, Home Depot (HD 168.06, +2.71) climbed 1.6% after reporting better-than-expected earnings and revenues for the third quarter and raising its guidance for 2018.

Advance Auto (AAP 95.72, +13.44) and TJX (TJX 67.94, -2.82) also reported earnings on Tuesday--with mixed results. TJX shares slipped 4.0% after the apparel and home goods retailer missed sales estimates for the third quarter, while Advance Auto shares surged 16.3% after the auto parts retailer beat Q3 profit estimates and reaffirmed its same store sales guidance for fiscal year 2017.

In other corporate news, Buffalo Wild Wings (BWLD 145.35, +28.10) jumped 24.0% following reports that private equity firm Roark Capital has made a bid to buy the casual dining and sports bar franchise for more than $150 per share.

From Washington, unconfirmed reports indicate that Senate leaders have decided to add a repeal of the Affordable Care Act's individual mandate to the upper chamber's version of a tax reform bill. If true, this development may slow tax reform negotiations. On a related note, the House is expected to vote on its version of the bill this Thursday.

Elsewhere, equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note, with Japan's Nikkei (unch) showing relative strength. The Euro Stoxx 50 (-0.5%) moved lower for the seventh session in a row as the euro climbed 1.1% against the U.S. dollar to 1.1794--its highest level in nearly three weeks.

Reviewing Tuesday's economic data, which was limited to the October Producer Price Index and the October NFIB Small Business Optimism Index:

Producer prices rose 0.4% in October (Briefing.com consensus +0.1%), while core producer prices also rose 0.4% (Briefing.com consensus +0.2%). Year over year, producer prices are up 2.8% and core producer prices have risen 2.4%.
The key takeaway from the report is that it will create some angst about possible pass-through effects on consumer prices and will help solidify expectations for a December rate hike from the Federal Reserve.
The NFIB Small Business Optimism Index increased to 103.8 in October from 103.0 in the September reading.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00 ET, the Consumer Price Index for October (Briefing.com consensus +0.1%) at 8:30 ET, Retail Sales for October (Briefing.com consensus +0.1%) at 8:30 ET, November Empire Manufacturing (Briefing.com consensus 26.0) at 8:30 ET, and September Business Inventories (Briefing.com consensus 0.0%) at 10:00 ET.

Nasdaq Composite +25.2% YTD
Dow Jones Industrial Average +18.5% YTD
S&P 500 +15.2% YTD
Russell 2000 +8.4% YTD

Dow: -30.23… | Nasdaq: -19.72… | S&P: -5.97…

NASDAQ Adv/Dec 1246/1483. …NYSE Adv/Dec 1243/1703.

03:35PM ET

[BRIEFING.COM] Commodities end the day higher :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 2.07% at 87.2
Dollar index is currently down 0.68% at 93.85
Oct WTI Crude is down 1.87% on the day.
API inventory data to be released at 4:30 pm ET.
Futures settle $1.06 lower to $55.7/barrel.
In other energy, Dec Natural Gas settled down $0.06 at $3.11/MMBtu
On the metals:
Dec Gold gained $4.40 to settle at $1283.30/oz, while Dec silver gained $0.04 to $17.09/oz
Dec Copper dropped $0.05 to $3.07/lb
Finally, agriculture:
Dec Corn settled up $0.04 at $3.42/bu.
Dec Soy settled up $0.0725 at $9.7525/bu.
Dec Wheat settled down $0.03 at $4.25/bu.

Dow: -49.48… | Nasdaq: -18.47… | S&P: -6.12…

NASDAQ Adv/Dec 1272/1524. …NYSE Adv/Dec 1224/1704.

03:00PM ET

[BRIEFING.COM] The major U.S. indices enter the final hour of action with losses between 0.2% and 0.4%.

Looking ahead, investors will receive a sizable dose of economic data tomorrow, highlighted by the Consumer Price Index for October (Briefing.com consensus +0.1%) and Retail Sales for October (Briefing.com consensus +0.1%)--both of which will cross the wires at 8:30 ET.

On the earnings front, Target (TGT 59.19, -0.60) will release its third quarter earnings report on Wednesday morning, followed by releases from Cisco Systems (CSCO 34.03, +0.08) and L Brands (LB 48.78, -0.17) in the afternoon.

Dow: -36.63… | Nasdaq: -25.79… | S&P: -6.84…

NASDAQ Adv/Dec 1247/1562. …NYSE Adv/Dec 1235/1694.

02:30PM ET

[BRIEFING.COM] The tech-heavy Nasdaq (-0.5%) continues to trade a step behind the benchmark S&P 500 (-0.3%).

Biotechnology names have struggled today, sending the iShares Nasdaq Biotechnology ETF (IBB 302.19, -7.89) to a three-month low. Heavyweights like Gilead Sciences (GILD 70.38, -2.48), Celgene (CELG 98.97, -2.17), and Biogen (BIIB 308.30, -7.41) show losses between 2.1% and 3.3%. Meanwhile, the IBB is lower by 2.5%.

The health care sector, which houses biotechnology names, is still trading in second place on the 2017 sector leaderboard, as it has done for the vast majority of the year, with a year-to-date gain of 17.2%. However, that gain has been trimmed noticeably since hitting a peak in late October, when the group was up 21.5% for the year.

Dow: -52.23… | Nasdaq: -31.71… | S&P: -8.55…

NASDAQ Adv/Dec 1172/1617. …NYSE Adv/Dec 1201/1704.

01:55PM ET

[BRIEFING.COM] The major averages continue to trade modestly lower, holding losses between 0.2% and 0.5%.

Nine sectors are trading in the red this afternoon--materials (-1.3%), energy (-1.2%), telecom services (-1.2%), health care (-0.5%), industrials (-0.4%), financials (-0.3%), technology (-0.2%), consumer discretionary (-0.1%), and real estate (-0.1%)--while two are trading in the green--consumer staples (+0.3%) and utilities (+0.9%).

In the bond market, U.S. Treasuries are rallying today, sending yields lower across the curve. The yield on the 2-yr Treasury note is down one basis point at 1.68%, while the benchmark 10-yr yield is down two basis points at 2.38%.

Dow: -53.15… | Nasdaq: -31.83… | S&P: -8.17…

NASDAQ Adv/Dec 1126/1648. …NYSE Adv/Dec 1193/1728.

01:35PM ET

[BRIEFING.COM] After seeing some notable selling pressure heading into our last update, the major U.S. indices saw some small buying activity at the top of the hour, but still sport modest losses at this time.

A look inside the Dow Jones Industrial Average shows that General Electric (GE 17.60, -1.42), DowDuPont (DWDP 68.51, -1.57), & Walt Disney (DIS 103.18, -1.56) are underperforming. GE is again weighing on the Dow as shares see a continuation from yesterday's meaningful selloff after being downgraded this morning to Sector Perform at RBC Capital Mkts.

Conversely, Coca-Cola (KO 47.32, +0.60) is the best-performing Dow component after shares were upgraded to Outperform from Market Perform at Wells Fargo.

As stocks erase yesterday's gains, the DJIA is now down 0.17% this week.

Dow: -59.17… | Nasdaq: -35.56… | S&P: -9.61…

NASDAQ Adv/Dec 1129/1674. …NYSE Adv/Dec 1168/1748.

01:05PM ET

[BRIEFING.COM] Stocks have moved away from record highs today, but losses have been fairly modest for the most part. The major U.S. indices are down between 0.3% and 0.6%, which is slightly below where they opened today's session. The tech-heavy Nasdaq (-0.6%) underperforms as biotechnology shares show relative weakness.

The energy (-1.1%), materials (-1.0%), and telecom services (-1.0%) sectors have paced today's retreat. Within the materials space, mining giant Freeport-McMoRan (FCX 13.66, -0.77) has lost 5.4%, thanks in large part to a 1.8% decline in the price of copper, which currently trades at $3.06/lb. FCX is one of the world's largest copper producers.

Meanwhile, energy shares have moved in tandem with the price of crude oil, which has continued retreating from the two-year high it touched last week; WTI crude futures are down 2.1% at $55.58/bbl. The American Petroleum Institute will release its weekly crude inventory report this evening at 16:30 ET.

Industrials are also struggling as General Electric (GE 17.65, -1.37) slides another 7.2% following yesterday's decision to cut its dividend by 50%.

On a positive note, the rate-sensitive utilities space has climbed 0.9%, moving into third place in this year's sector standings (+16.3% YTD). The group has benefited from increased buying interest in U.S. sovereign debt, which has sent Treasury yields lower across the curve; the yield on the benchmark 10-yr Treasury note is down two basis points at 2.38%.

The consumer staples (+0.3%) and consumer discretionary (unch) sectors also trade ahead of the broader market.

In earnings news, Home Depot (HD 167.29, +1.94) is up 1.2% after reporting better-than-expected earnings and revenues and issuing above-consensus guidance for fiscal year 2018. Advance Auto (AAP 97.02, +14.73) is also higher, jumping 18.8%, after beating earnings estimates, while TJX (TJX 67.00, -3.76) has dropped 5.3% after missing revenue estimates.

Buffalo Wild Wings (BWLD 145.77, +28.52) has surged 24.3% following reports that Roark Capital has made a bid to buy the company for more than $150/share.

In Washington, Senator Rand Paul (R-KY) announced that he intends to offer an amendment to the GOP's tax reform bill that would repeal the Affordable Care Act's individual mandate. His decision may prove to be an obstacle in tax overhaul negotiations, which Republicans are trying to wrap up soon in order to put a tax reform bill on the president's desk by the end of the year.

Elsewhere, the Euro Stoxx 50 (-0.5%) declined for the seventh session in a row, while stock indices in the Asia-Pacific region also settled modestly lower.

Reviewing Tuesday's economic data, which was limited to the October Producer Price Index and the October NFIB Small Business Optimism Index:

Producer prices rose 0.4% in October (Briefing.com consensus +0.1%), while core producer prices also rose 0.4% (Briefing.com consensus +0.2%). Year-over-year, producer prices are up 2.8% and core producer prices have risen 2.4%.
The key takeaway from the report is that it will create some angst about possible pass-through effects on consumer prices and will help solidify expectations for a December rate hike from the Federal Reserve.
The NFIB Small Business Optimism Index increased to 103.8 in October from 103.0 in the prior reading.

Dow: -66.10… | Nasdaq: -41.96… | S&P: -10.96…

NASDAQ Adv/Dec 1049/1739. …NYSE Adv/Dec 1090/1809.

12:25PM ET

[BRIEFING.COM] Equity indices continue to trade near their recent levels. The S&P 500 and the Nasdaq are down 0.3% apiece, while the Dow shows a loss of 0.2%.

Soft drink names like Coca-Cola (KO 47.28, +0.55) and PepsiCo (PEP 115.53, +1.50) are outperforming today, sporting gains of 1.2% and 1.4%, respectively, and helping the S&P 500's consumer staples sector (+0.2%) trade near the top of the sector standings. Coca-Cola shares were upgraded to 'Outperform' from 'Market Perform' at Wells Fargo this morning.

However, nine of the ten remaining sectors are trading in negative territory this afternoon. Most groups hold losses of no more than 0.4%, but the energy (-1.3%), materials (-0.9%), and telecom services (-1.1%) spaces exhibit relative weakness.

Elsewhere, European equity markets finished Tuesday in the red, sending the Euro Stoxx 50 (-0.5%) lower for the seventh session in a row.

Dow: -45.57… | Nasdaq: -22.42… | S&P: -6.55…

NASDAQ Adv/Dec 1072/1721. …NYSE Adv/Dec 1129/1738.

12:00PM ET

[BRIEFING.COM] Equity indices have not changed since the last update.

The rate-sensitive utilities space (+0.9%) is trading solidly higher today, moving into third place in this year's sector standings (+16.2% YTD). The group has benefited from increased buying interest in U.S. sovereign debt, which has sent Treasury yields lower across the curve. The yield on the benchmark 10-yr Treasury note is down two basis points at 2.38%.

Meanwhile, the U.S. dollar has tumble 0.9% against the euro to 1.1770 following a big batch of European economic data, including better-than-expected third quarter GDP readings from Germany (+0.8% QoQ actual vs +0.6% QoQ consensus) and Italy (+0.5% QoQ actual vs +0.4% QoQ consensus). Eurozone Q3 GDP grew 0.6% quarter-over-quarter, as expected.

Also of note, European Central Bank President Mario Draghi spoke at a conference in Zurich, noting that forward guidance is now a full policy instrument.

Dow: -47.97… | Nasdaq: -17.01… | S&P: -5.99…

NASDAQ Adv/Dec 1143/1658. …NYSE Adv/Dec 1130/1725.

11:25AM ET

[BRIEFING.COM] The major U.S. indices continue to trade modestly lower, holding losses of around 0.3% apiece.

Retail heavyweight TJX (TJX 67.55, -3.21) is down 4.7% this morning after reporting worse-than-expected revenues for the third quarter. Conversely, Advance Auto Parts (AAP 98.18, +15.88) has surged 19.2% after beating Q3 earnings estimates and reaffirming its same store sales guidance for fiscal year 2017. AAP shares are hovering at a one-month high.

In general, retailers trade slightly behind the broader market, evidenced by the 0.4% decrease in the SPDR S&P Retail ETF (XRT 39.56, -0.14). Looking ahead, Target (TGT 59.65, -0.13), L Brands (LB 48.80, -0.15), and The Children's Place (PLCE 113.45, +0.55) will report earnings on Wednesday.

Dow: -53.98… | Nasdaq: -19.75… | S&P: -7.16…

NASDAQ Adv/Dec 1140/1662. …NYSE Adv/Dec 1100/1733.

11:00AM ET

[BRIEFING.COM] Equities are hovering a step below their flat lines this morning. The S&P 500, the Dow, and the Nasdaq hold losses of 0.2% apiece.

The majority of sectors trade roughly in line with the broader market, but the energy (-0.9%), materials (-0.9%), and telecom services (-1.1%) groups show relative weakness. A decrease in the price of crude oil has weighed heavily on energy shares, which typically move in tandem with the price of the commodity. WTI crude futures are down 2.0% at $55.61/bbl.

Meanwhile, the utilities space (+0.5%) is trading at the top of the sector standings, followed from a distance by the consumer staples space (unch). Within the consumer staples group, General Mills (GIS 53.98, +1.01) is up 1.9% after reaffirming its financial targets for fiscal year 2018.

Dow: -44.67… | Nasdaq: -15.23… | S&P: -5.53…

NASDAQ Adv/Dec 1255/1548. …NYSE Adv/Dec 1198/1630.

10:30AM ET

[BRIEFING.COM] Commodities begin the day noticeably lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 1.31% at 86.0644
Dollar index is currently down 0.42% at 94.09
Dec WTI crude is down 1.9% on the day.
API inventory data is due out at 4:30 pm ET.
Futures are $1.08 lower to $55.68/barrel.
In other energy, Dec natural gas is down $0.08 at $3.09/MMBtu
Metals:
Dec gold lost $0.20 and trades at $1278.70/oz, while Dec silver lost $0.06 to $16.99/oz
Dec copper dropped 0.06 to $3.06/lb
Finally, agriculture:
Dec corn is down $0.02 at $3.4/bu.
Dec soy is down $0.02 at $9.72/bu.
Dec wheat is up $0.03 at $4.27/bu.

Dow: -138.35… | Nasdaq: -35.61… | S&P: -13.65…

NASDAQ Adv/Dec 1025/1755. …NYSE Adv/Dec 981/1824.

09:55AM ET

[BRIEFING.COM] The Dow Jones Industrial Average continues to hover near its opening level, showing a loss of 0.3%.

Within the Dow, General Electric (GE 18.63, -0.40) is the weakest component by a wide margin. GE shares are down 2.5% today and lost 7.2% on Monday after the industrial giant cut its dividend by half and dialed back its profit forecast for 2018. For the year, GE shares are lower by 41.0%.

On a positive note, Caterpillar (CAT 137.50, +0.96) and Pfizer (PFE 35.40, +0.11) are trading in positive territory, sporting respective gains of 0.7% and 0.3%.

Dow: -70.60… | Nasdaq: -22.02… | S&P: -9.07…

NASDAQ Adv/Dec 1192/1509. …NYSE Adv/Dec 1115/1593.

09:40AM ET

[BRIEFING.COM] The major U.S. stock indices are trading lower in the opening minutes of today's session, with the S&P 500 showing a loss of 0.4%.

All 11 sectors are trading in negative territory this morning. The materials (-0.8%) and energy (-0.8%) sectors are the weakest groups, while the consumer staples (-0.2%) and utilities (unch) spaces are the strongest.

Meanwhile, U.S. Treasuries have ticked up from their flat lines, sending the benchmark 10-yr yield one basis point lower to 2.39%.

Dow: -73.77… | Nasdaq: -29.69… | S&P: -10.69…

NASDAQ Adv/Dec 937/1690. …NYSE Adv/Dec 912/1743.

09:12AM ET

[BRIEFING.COM] S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -19.40.

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

In U.S. corporate news, Home Depot (HD 165.46, +0.11) is slightly higher after reporting better-than-expected earnings and revenues and issuing above-consensus guidance for fiscal year 2018. Meanwhile, Advance Auto Parts (AAP 97.49, +15.21) has jumped 18.5% after beating earnings estimates and reaffirming its same store sales guidance for fiscal year 2017.

Buffalo Wild Wings (BWLD 147.65, +30.40) is also trading solidly higher, climbing 25.9%, following a Wall Street Journal report that Roark Capital has made a bid to buy the company for more than $150/share.

On the data front, the Producer Price Index increased 0.4% in October, while the Briefing.com consensus expected an increase of 0.1%. The core Producer Price Index also increased more than expected, climbing 0.4% (Briefing.com consensus +0.2%). Year-over-year, producer prices are up 2.8% and core producer prices have risen 2.4%.

U.S. Treasuries had a largely muted reaction to the hotter-than-expected readings and continue to trade near their flat lines. The yield on the benchmark 10-yr Treasury note is unchanged at 2.40%.

Meanwhile, WTI crude futures are down 0.6% at $56.43/bbl and the U.S. dollar has dropped 0.7% against the euro to 1.1753.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -5.90. Nasdaq futures vs fair value: -5.90.

The S&P 500 futures are trading six points, or 0.2%, below fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note while Japan's Nikkei settled flat after surrendering its early gain. Disappointing economic data from China weighed on sentiment, but equity markets across Asia have been struggling since a reversal took place in the Nikkei on Thursday. China's State Information Centre expects 2018 GDP growth of 6.5% and CPI growth of 3.0%. China's 10-yr yield briefly climbed above 4.00% for the first time since 2014 before settling at 3.99%.

In economic data:
China's October FDI +1.9% (last 1.6%). October Fixed Asset Investment +7.3% year-over-year (consensus 7.4%; last 7.5%), October Industrial Production +6.2% year-over-year (consensus 6.3%; last 6.6%), and October Retail Sales +10.0% year-over-year (consensus 10.4%; last 10.3%)
Australia's October NAB Business Confidence 8 (last 7) and October NAB Business Survey 21 (last 14)
India's trade deficit $14.02 billion (expected deficit of $10.40 billion; last deficit of $8.98 billion). October Imports $37.12 billion (last $37.60 billion) and October Exports $23.10 billion (last $28.61 billion). October WPI Inflation +3.59% year-over-year (expected 3.01%; last 2.60%). October WPI Manufacturing Inflation 2.62% (last 2.72%)

---Equity Markets---

Japan's Nikkei settled just below its flat line. Rakuten, Aozora Bank, Nippon Yusen, Meiji Holdings, Mitsubishi Logistics, NSK, Suzuki Motor, NEC, J Front Retailing, and Hino Motors posted losses between 0.8% and 5.9%.
Hong Kong's Hang Seng shed 0.1%. Apple supplier AAC Technologies lost 2.3% while China Petrol & Chemical, CNOOC, and PetroChina posted losses between 1.5% and 1.6%. Financials like Citic Pacific, HSBC, China Construction Bank, Bank of China, and ICBC lost between 0.5% and 1.1%. On the upside, Geely Automobile surged 6.4% to a fresh record.
China's Shanghai Composite lost 0.5%. Hubei Jumpcan Pharmaceutical, Shanghai Yuyuan Tourist Mart, YTO Express, China Sports Industry Group, Wingtech Technology, and Shanghai Fosun Pharmaceutical posted losses between 4.5% and 5.0%.
India's Sensex slipped 0.3%. Larsen & Toubro, Asian Paints, Tata Consultancy, Dr. Reddy's Labs, and Adani Ports lost between 0.8% and 2.5%. Financials like HDFC Bank, SBI, and ICICI Bank surrendered between 0.1% and 0.7% while AXIS Bank gained 1.6%.

Major European indices trade mixed, with the UK's FTSE (+0.2%) showing relative strength. European Central Bank President Mario Draghi spoke at a conference in Zurich, noting that forward guidance is now a full policy instrument. Spain's Prime Minister Mariano Rajoy said the aim of the election scheduled for December 21 is to keep Catalan separatists out of office. Mr. Rajoy added that a win by the separatists would not force a general election.

In economic data:
Eurozone September Industrial Production -0.6% month-over-month, as expected (last 1.4%); +3.3% year-over-year (consensus 3.2%; last 3.9%). Q3 GDP +0.6% quarter-over-quarter, as expected; +2.5% year-over-year, as expected. ZEW Economic Sentiment 30.9 (expected 29.3; last 26.7).
Germany's November ZEW Economic Sentiment 18.7 (expected 20.0; last 17.6) and ZEW Current Conditions 88.8 (consensus 88.0; previous 87.0). Q3 GDP +0.8% quarter-over-quarter (expected 0.6%; last 0.6%); +2.3% year-over-year, as expected (last 1.0%). October CPI 0.0% month-over-month, as expected (last 0.0%); +1.6% year-over-year, as expected (last 1.6%)
UK's October CPI +0.1% month-over-month (expected 0.2%; last 0.3%); +3.0% year-over-year (consensus 3.1%; last 3.0%). October Input PPI +1.0% month-over-month (expected 1.1%; last 0.2%); +4.6% year-over-year (consensus 4.8%; last 8.1%). October Core CPI +2.7% year-over-year (expected 2.8%; last 2.7%). House Price Index +5.4% year-over-year (consensus 5.2%; last 4.8%)
Italy's Q3 GDP +0.5% quarter-over-quarter (expected 0.4%; last 0.3%); +1.8% year-over-year (consensus 1.7%; last 1.5%). October CPI -0.2% month-over-month, as expected (last -0.2%); +1.0% year-over-year, as expected (last 1.0%)
Spain's October CPI +0.9% month-over-month, as expected (last 0.9%); +1.6% year-over-year, as expected (last 1.6%)
Swiss October PPI +0.5% month-over-month (expected 0.2%; last 0.5%); +1.2% year-over-year (last 0.8%)

---Equity Markets---

UK's FTSE is up 0.2% with consumer names among the leaders. Tesco, Carnival, Persimmon, Taylor Wimpey, and Barratt Developments are up between 1.1% and 6.4%. On the downside, miners like Glencore, Rio Tinto, Anglo American, and BHP Billiton are down between 1.1% and 1.7%.
Germany's DAX is off 0.2%. Siemens, Munich Re, Commerzbank, Volkswagen, and Heidelbergcement are down between 0.8% and 1.2%. Henkel and RWE are down 5.2% and 3.9%, respectively, in response to disappointing earnings. On the upside, Infineon has climbed 3.1% in response to upbeat guidance.
France's CAC is down 0.4%. TechnipFMC leads with a loss of 2.0% while financials like Societe Generale, Credit Agricole, AXA, and BNP Paribas show losses between 0.1% and 1.3%. On the upside, automakers Peugeot and Renault hold respective gains of 0.8% and 0.5%.

08:32AM ET

[BRIEFING.COM] S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -9.40.

The S&P 500 futures are trading six points, or 0.2%, below fair value.

Just in, producer prices rose 0.4% in October (Briefing.com consensus +0.1%), while core producer prices also rose 0.4% (Briefing.com consensus +0.2%). Year-over-year, producer prices are up 2.8% and core producer prices have risen 2.4%.

07:59AM ET

[BRIEFING.COM] S&P futures vs fair value: -6.50. Nasdaq futures vs fair value: -10.50.

Stocks eked out a slim victory on Monday, but look poised to begin today's session a step below their unchanged marks. The S&P 500 futures are trading seven points, or 0.3%, below fair value. Elsewhere, equity indices in the Asia-Pacific region finished Tuesday modestly lower, while European bourses currently hover near their flat lines.

The U.S. equity market continues to drift near record high levels, but has struggled since last Thursday when the Senate released its version of a tax reform bill, which differed from the House's version in some key areas. The House may vote on its version as early as this Thursday, and reports indicate that the bill has enough Republican support to pass.

On the data front, investors will receive both the October Producer Price Index (Briefing.com consensus +0.1%) and core Producer Price Index (Briefing.com consensus +0.2%), which excludes food and energy, at 8:30 ET. The NFIB Small Business Optimism Index crossed the wires earlier this morning, increasing to 103.8 from 103.0 in the prior reading.

Outside the equity market, U.S. Treasuries are trading flat for the second day in a row, with the benchmark 10-yr yield unchanged at 2.40%. Meanwhile, WTI crude futures are down 0.6% at $56.42/bbl, retreating from the two-year high they touched last week, and the U.S. dollar has dropped 0.7% against the euro to 1.1744.

In U.S. corporate news:

Home Depot (HD 164.20, -1.15): -0.7% despite reporting better-than-expected earnings and revenues and issuing above-consensus guidance for fiscal year 2018.
Advance Auto Parts (AAP 94.00, +11.72): +14.2% after beating earnings estimates and reaffirming its same store sales guidance for fiscal year 2017.
Dick's Sporting Goods (DKS 24.90, -1.43): -5.4% after disappointing earnings guidance for 2018 outweighed better-than-expected earnings and revenues.
Buffalo Wild Wings (BWLD 148.50, +31.25): +26.7% following a Wall Street Journal report that Roark Capital has made a bid to buy the company for more than $150/share.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note while Japan's Nikkei settled flat after surrendering its early gain. Hong Kong's Hang Seng -0.1%, China's Shanghai Composite -0.5%, India's Sensex -0.3%.
In economic data:
China's October FDI +1.9% (last 1.6%). October Fixed Asset Investment +7.3% year-over-year (consensus 7.4%; last 7.5%), October Industrial Production +6.2% year-over-year (consensus 6.3%; last 6.6%), and October Retail Sales +10.0% year-over-year (consensus 10.4%; last 10.3%)
Australia's October NAB Business Confidence 8 (last 7) and October NAB Business Survey 21 (last 14)
India's trade deficit $14.02 billion (expected deficit of $10.40 billion; last deficit of $8.98 billion). October Imports $37.12 billion (last $37.60 billion) and October Exports $23.10 billion (last $28.61 billion). October WPI Inflation +3.59% year-over-year (expected 3.01%; last 2.60%). October WPI Manufacturing Inflation 2.62% (last 2.72%)
In news:
Disappointing economic data from China weighed on sentiment, but equity markets across Asia have been struggling since a reversal took place in the Nikkei on Thursday.
China's State Information Centre expects 2018 GDP growth of 6.5% and CPI growth of 3.0%.
China's 10-yr yield briefly climbed above 4.00% for the first time since 2014 before settling at 3.99%.

Major European indices trade near their flat lines. UK's FTSE +0.1%, Germany's DAX -0.1%, France's CAC -0.3%.
In economic data:
Eurozone September Industrial Production -0.6% month-over-month, as expected (last 1.4%); +3.3% year-over-year (consensus 3.2%; last 3.9%). Q3 GDP +0.6% quarter-over-quarter, as expected; +2.5% year-over-year, as expected. ZEW Economic Sentiment 30.9 (expected 29.3; last 26.7).
Germany's November ZEW Economic Sentiment 18.7 (expected 20.0; last 17.6) and ZEW Current Conditions 88.8 (consensus 88.0; previous 87.0). Q3 GDP +0.8% quarter-over-quarter (expected 0.6%; last 0.6%); +2.3% year-over-year, as expected (last 1.0%). October CPI 0.0% month-over-month, as expected (last 0.0%); +1.6% year-over-year, as expected (last 1.6%)
UK's October CPI +0.1% month-over-month (expected 0.2%; last 0.3%); +3.0% year-over-year (consensus 3.1%; last 3.0%). October Input PPI +1.0% month-over-month (expected 1.1%; last 0.2%); +4.6% year-over-year (consensus 4.8%; last 8.1%). October Core CPI +2.7% year-over-year (expected 2.8%; last 2.7%). House Price Index +5.4% year-over-year (consensus 5.2%; last 4.8%)
Italy's Q3 GDP +0.5% quarter-over-quarter (expected 0.4%; last 0.3%); +1.8% year-over-year (consensus 1.7%; last 1.5%). October CPI -0.2% month-over-month, as expected (last -0.2%); +1.0% year-over-year, as expected (last 1.0%)
Spain's October CPI +0.9% month-over-month, as expected (last 0.9%); +1.6% year-over-year, as expected (last 1.6%)
Swiss October PPI +0.5% month-over-month (expected 0.2%; last 0.5%); +1.2% year-over-year (last 0.8%)
In news:
European Central Bank President Mario Draghi spoke at a conference in Zurich, noting that forward guidance is now a full policy instrument.
Spain's Prime Minister Mariano Rajoy said the aim of the election scheduled for December 21 is to keep Catalan separatists out of office. Mr. Rajoy added that a win by the separatists would not force a general election.

05:54AM ET

[BRIEFING.COM] S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -3.90.
05:54AM ET

[BRIEFING.COM] Nikkei

...22380...-1.00...0.00

Hang Seng

...29152...-30.10...-0.10%

05:54AM ET

[BRIEFING.COM] FTSE

...7426.80...+11.60...+0.20%

DAX

...13069.95...-4.50...0.00%

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 dividend 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 October 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.

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