TheStrategyLab.com Price Action Trading Support Forum

Price Action 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 & http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850
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
Users Reviews, Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Review of TheStrategyLab: http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3167 & 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)
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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 @ $2,587.50 dollars or +51.75 points, Light Crude Oil CL ($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 @ $2,587.50 dollars

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 & Price Action Analysis is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=176&t=2739

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 and price action analysis are posted by me and other users of WRB Analysis in real-time...review of TheStrategyLab is that 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=343&t=3632 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: -16.67… | Nasdaq: -10.01… | S&P: -3.06…
NASDAQ Vol: 2.1 bln… Adv: 1303… Dec: 1356…
NYSE Vol: 812.2 mln… Adv: 1137… Dec: 1773…

Moving the Market

Treasury yields rise after report that China may halt purchases of U.S. debt then return flat after strong $20 billion 10-yr note reopening

Outperformance of financials helps keep losses in check

Top-weighted technology sector underperforms; chipmakers show particular weakness

Sector Watch
Strong: Financials, Industrials
Weak: Technology, Materials, Consumer Staples, Utilities, Telecom Services, Real Estate

04:25PM ET

[BRIEFING.COM] Stocks slipped from record highs on Wednesday with the S&P 500 and the Nasdaq registering their first losses of 2018. All three major U.S. indices--the S&P 500, the Nasdaq, and the Dow Jones Industrial Average--lost 0.1% while the small-cap Russell 2000 finished flat.

A Bloomberg report that China may trim or halt its purchases of U.S. Treasuries prompted overnight selling in the Treasury market, sending the yield on the benchmark 10-yr Treasury note to its highest level since March 2017. The higher yields pushed equity investors to take some profits at the start of Wednesday's session.

The Dow, the S&P 500, and the Nasdaq hit their worst marks of the day shortly after the opening bell, holding losses between 0.5% and 0.7%.

However, investors quickly bought the dip thanks in part to a CNBC interview with legendary investor Warren Buffett, who stated that he remains a net buyer of stocks, citing low interest rates and the recently passed tax reform legislation.

Equities eventually reached their flat lines in the afternoon but slid back into the red following a Reuters report that Canada believes that U.S. President Donald Trump will soon pull the United States out of the North American Free Trade Agreement (NAFTA). General Motors (GM 43.00, -1.05), which was flat ahead of the report, finished lower by 2.4%.

The market made one last run in the final minutes, but ended just short of its unchanged mark. Nine of eleven sectors finished in negative territory with the financials (+0.9%) and industrials (+0.1%) groups being the two advancers.

The financial sector, which is the second heaviest group by weight, advanced at the opening bell due to the increase in Treasury yields and managed to keep the bulk of its gain even though yields returned to their flat lines following a $20 billion 10-yr note reopening that was met with strong demand. The benchmark 10-yr yield settled unchanged at 2.55% after trading as high as 2.59%.

As for the other sectors, losses ranged from less than 0.1% (consumer discretionary) to 1.5% (real estate). The top-weighted technology sector (-0.3%) underperformed with chipmakers showing particular weakness; the Philadelphia Semiconductor Index dropped 1.2%.

Meanwhile, West Texas Intermediate crude futures advanced 0.7% to $63.39 per barrel, a three-year high, after the Department of Energy said U.S. crude inventories declined for the eighth week in a row last week, dropping by 4.9 million barrels. The energy sector, which typically moves in tandem with oil prices, lost 0.1%.

Elsewhere, equity indices in the Asia-Pacific region finished Wednesday on a mixed note with Japan's Nikkei (-0.3%) slipping from a 26-year high. In Europe, the UK's FTSE added 0.2%, but the Euro Stoxx 50 lost 0.4%, breaking its five session winning streak.

Reviewing Wednesday's economic data, which included Import/Export Prices for December, Wholesale Inventories for November, and the weekly MBA Mortgage Applications Index:

Import prices increased 0.1% in December, but were down 0.1% excluding fuel. Export prices, meanwhile, decreased 0.1% and were flat excluding agriculture.
The key takeaway from the report is that it will continue to foment budding inflation concerns, especially since the dollar is weakening, labor markets are tightening, and global growth is improving.
Wholesale inventories increased 0.8% in November (Briefing.com consensus 0.7%) following an upwardly revised 0.4% decline (from -0.5%) in October. Wholesale sales jumped 1.5% in November on top of an upwardly revised 0.8% increase (from 0.7%) in October.
The key takeaway from the report is that the sales increase outpaced the inventory increase by a sizable margin, which is a step in the right direction for wholesalers trying to regain some pricing power.
The weekly MBA Mortgage Applications Index increased 8.3% to follow last week's 2.8% decline.

On Thursday, investors will receive both the Producer Price Index for December (Briefing.com consensus +0.2%) and the weekly Initial Claims report (Briefing.com consensus +248K) at 8:30 AM ET. The December Treasury Budget (Briefing.com consensus -$47.5 billion) will be released at 2:00 PM ET.

Nasdaq Composite: +3.6% YTD
S&P 500: +2.8% YTD
Dow Jones Industrial Average: +2.6% YTD
Russell 2000: +1.6% YTD

Dow: -16.67… | Nasdaq: -10.01… | S&P: -3.06…

NASDAQ Adv/Dec 1303/1356. …NYSE Adv/Dec 1137/1773.

03:30PM ET

[BRIEFING.COM] Commodities end the day higher :

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently up 0.2% at 88.2393
Dollar index is currently down 0.2% at 92.06
Feb WTI Crude is up 0.68% on the day.
Futures settle $0.43 higher to $63.39/barrel.
In other energy, Feb Natural Gas settled down $0.01 at $2.91/MMBtu
On the metals:
Feb Gold gained $5.6 to settle at $1319.3/oz, while Mar silver gained $0.03 to $17.04/oz
Mar Copper gained $0.02 to $3.24/lb
Finally, agriculture:
Mar Corn settled unchanged at $3.49/bu.
Jan Soy settled down $0.005 at $9.545/bu.
Mar wheat settled flat at $4.34/bu.

Dow: -23.49… | Nasdaq: -16.74… | S&P: -4.31…

NASDAQ Adv/Dec 1358/1599. …NYSE Adv/Dec 1085/1839.

03:00PM ET

[BRIEFING.COM] Stocks are modestly lower this afternoon with the S&P 500 (-0.3%) and the Nasdaq (-0.4%) on course for their first losses of the year.

Looking ahead, investors will receive several economic reports on Thursday, including the Producer Price Index for December (Briefing.com consensus +0.2%), the core Producer Price Index for December (Briefing.com consensus +0.2%), weekly Initial Claims (Briefing.com consensus 248,000), and the December Treasury Budget (Briefing.com consensus -$47.5 billion).

As for earnings, Delta Air Lines (DAL 55.59, +1.41) will report before the opening bell. KB Home (KBH 34.39, +0.19) is the only notable company scheduled to report this evening.

Dow: -33.81… | Nasdaq: -25.47… | S&P: -6.13…

NASDAQ Adv/Dec 1331/1445. …NYSE Adv/Dec 1079/1836.

02:30PM ET

[BRIEFING.COM] The major averages have dipped a bit in recent action with the Dow (-0.1%) returning to negative territory.

Retailers are outperforming today, evidenced by the 0.5% increase in the SPDR S&P Retail ETF (XRT 46.02, +0.21). Nordstrom (JWN 222.59, +0.64) shows particular strength after providing positive profit guidance for fiscal year 2018; JWN shares are up 2.4%.

However, the consumer discretionary sector (-0.2%), which houses retailers, is trading roughly in line with the broader market. The group's largest component by market cap--Amazon (AMZN 1247.75, -4.95)--is down 0.4% after hitting a new record on Tuesday.

Dow: -36.25… | Nasdaq: -26.76… | S&P: -6.73…

NASDAQ Adv/Dec 1331/1462. …NYSE Adv/Dec 1073/1828.

01:55PM ET

[BRIEFING.COM] The Dow is trading a tick higher while the S&P 500 remains lower by 0.1%. The Nasdaq shows relative weakness, down 0.2%.

Seven sectors are lower--real estate (-1.6%), utilities (-1.1%), telecom services (-0.8%), technology (-0.5%), consumer staples (-0.5%), materials (-0.4%), and health care (-0.3%)--while four trade in the green--consumer discretionary (unch), energy (+0.3%), industrials (+0.4%), and financials (+1.3%).

In the bond market, Treasuries have come up from their session lows, but are still trading below yesterday's closing levels. The yield on the benchmark 10-yr Treasury note is at 2.56% after finishing Tuesday at 2.55%. Yields move inversely to prices.

Dow: +11.80… | Nasdaq: -14.22… | S&P: -1.64…

NASDAQ Adv/Dec 1412/1388. …NYSE Adv/Dec 1185/1716.

01:30PM ET

[BRIEFING.COM] Equities continue to lose steam following a hot start to 2018. A rise in the yield curve has led to some caution in bond markets that is seeping into equities. Investors can not be blamed for profit taking given the close to 2017 and start to 2018. Markets will be watching to see if the Buy the Dip mentality will once again reign as earnings start to populate the wire. We will see some big names reporting as we close out the week including Delta

(DAL) tomorrow and BlackRock

(BLK), J.P. Morgan

(JPM), and Wells Fargo

(WFC) on Friday. Next week the volume will continue to pick up and the Q4 corporate performance will be unveiled and, more importantly, the early outlooks for 2018 and the impact of tax reform will be discussed.

After hitting a road bump to start off the week, General Electric (GE) shares have rebounded the past two days. The stock is up +2.2% on the day and is helping keep the Dow near even on the day. GE shares are hitting a two-month high ($19.06) as it continues to see momentum on the 'Dog of the Dow' theory. J.P. Morgan (JPM) is the second best performer as it is up +1.4%. Financials continue to benefit from the recent steepening of the yield curve. JPM will be posting Q4 results on Friday morning with investors keeping a close ye on commentary around loan growth, tax reform impact, trading revenue, and net charge offs.

Intel (INTC) continues to be the primary drag on the down as it tumbles -1.7%. Shares of INTC are now down 9% in 2018 as the embattled company deals with processor issues. DowDuPont (DWDP) is down -1.2% on the session as it sees some small profit taking following a breakout above the $72 area to start the year.

Dow: -1.41… | Nasdaq: -21.52… | S&P: -3.01…

NASDAQ Adv/Dec 1319/1601. …NYSE Adv/Dec 1138/1805.


01:05PM ET

[BRIEFING.COM] Stocks are a tick lower this afternoon but have been gaining steam since the early morning, hoping to keep their six session winning streak alive.

The Dow Jones Industrial Average is down 0.1%, the S&P 500 is lower by 0.2%, and the Nasdaq Composite shows a loss of 0.3%. At the opening bell, the three indices held losses of around 0.3%, and the Nasdaq has been down as much as 0.7%.

Today's pullback isn't surprising in light of the stock market's bullish start to 2018, but the credited catalyst for the move has been an increase in Treasury yields; the yield on the benchmark 10-yr Treasury note is up three basis points at 2.58%--its best level since March 2017. Treasuries sold off, pushing yields into the green, following a Bloomberg report that China may slow down or halt purchases of U.S. Treasuries, partially due to trade tensions between the two nations.

The heavily-weighted financial sector has benefited from the increase in yields, jumping 1.0%, but it is one of few. Most of the 11 sectors are trading in the red, although it's worth pointing out that airlines United Continental (UAL 72.87, +4.39) and American Airlines (AAL 53.71, +1.63) have helped give the industrial sector (+0.3%) a boost, adding 6.4% and 3.1%, respectively, after raising their fourth quarter RASM guidance.

Pacing today's retreat are the lightly-weighted real estate (-1.7%), utilities (-1.1%), and telecom services (-0.9%) groups, which now hold year-to-date losses between 3.6% and 4.2%. The top-weighted technology sector (-0.6%) has had more of a bearish influence though with chipmakers showing particular weakness; the Philadelphia Semiconductor Index is down 1.3%. The tech space represents nearly a quarter of the broader market alone.

West Texas Intermediate crude futures are up 0.5% at $63.30 per barrel, hovering near a three-year high. Crude futures had a mostly muted reaction to the Department of Energy's weekly inventory report, which showed that U.S. crude stockpiles decreased for the eighth week in a row, dropping by 4.9 million barrels. The consensus estimate called for a draw of 7.4 million barrels. The energy sector, which typically moves in tandem with crude prices, is up 0.2%.

Elsewhere, equity indices in the Asia-Pacific region finished Wednesday on a mixed note with Japan's Nikkei (-0.3%) slipping from a 26-year high. In Europe, the UK's FTSE added 0.2%, but the Euro Stoxx 50 lost 0.4%, breaking its five session winning streak.

Reviewing Wednesday's economic data, which included Import/Export Prices for December, Wholesale Inventories for November, and the weekly MBA Mortgage Applications Index:

Import prices increased 0.1% in December, but were down 0.1% excluding fuel. Export prices, meanwhile, decreased 0.1% and were flat excluding agriculture.
The key takeaway from the report is that it will continue to foment budding inflation concerns, especially since the dollar is weakening, labor markets are tightening, and global growth is improving.
Wholesale inventories increased 0.8% in November (Briefing.com consensus 0.7%) following an upwardly revised 0.4% decline (from -0.5%) in October. Wholesale sales jumped 1.5% in November on top of an upwardly revised 0.8% increase (from 0.7%) in October.
The key takeaway from the report is that the sales increase outpaced the inventory increase by a sizable margin, which is a step in the right direction for wholesalers trying to regain some pricing power.
The weekly MBA Mortgage Applications Index increased 8.3% to follow last week's 2.8% decline.

Dow: +1.11… | Nasdaq: -19.54… | S&P: -2.59…

NASDAQ Adv/Dec 1326/1500. …NYSE Adv/Dec 1111/1786.

12:25PM ET

[BRIEFING.COM] Equity indices trade at their best marks of the day with the Dow (unch) nearing positive territory.

In Europe, stocks finished on a mostly lower note with the Euro Stoxx 50 (-0.4%) breaking a five session winning streak. The UK's FTSE (+0.2%) ended with a slim gain, however, as the British pound lost ground against the U.S. dollar. The pound is currently down 0.2% against the greenback at 1.3512 while the euro is up 0.2% at 1.1963.

The U.S. Dollar Index is lower by 0.3% at 92.00, slipping from a nearly two-week high.

Dow: -8.35… | Nasdaq: -22.25… | S&P: -3.53…

NASDAQ Adv/Dec 1292/1543. …NYSE Adv/Dec 1080/1789.

11:55AM ET

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

Chipmakers have struggled today following a solid start to the year. The Philadelphia Semiconductor Index is down 1.6% with Dow component Intel (INTC 43.08, -0.54) shedding another 1.3%, bringing its year-to-date loss to 8.1%. INTC shares have underperformed due to recently discovered security flaws in Intel chips.

The top-weighted technology sector, which houses chipmakers, is down 0.6%.

Meanwhile, the industrial sector (+0.1%) has outperformed the broader market today with transports showing particular strength; the Dow Jones Transportation Average is up 0.4%. United Continental (UAL 72.50, +4.02) is up 6.0% after reporting better-than-expected traffic for December.

Dow: -18.36… | Nasdaq: -28.70… | S&P: -4.46…

NASDAQ Adv/Dec 1203/1626. …NYSE Adv/Dec 1023/1865.

11:25AM ET

[BRIEFING.COM] The equity market has trimmed its losses a bit in recent trading. The S&P 500 is now down just 0.2%.

Eight sectors trade in the red--real estate (-1.8%), utilities (-1.0%), technology (-0.6%), materials (-0.5%), telecom services (-0.5%), consumer staples (-0.4%), health care (-0.3%), and consumer discretionary (unch)--while three trade in the green--industrials (unch), energy (+0.1%), and financials (+0.9%).

The outperformance of the financial sector, which is the second heaviest group by weight, has helped keep the S&P 500's loss in check. The group is outperforming amid a steepening of the yield curve, which bodes well for the earnings prospects of lenders. The benchmark 10-yr yield is up three basis points at 2.58% while the 2-yr yield is up one basis point at 1.97%.

Treasury yields have increased following a Bloomberg report that China may slow or halt its purchases of U.S. sovereign debt.

Dow: -35.81… | Nasdaq: -31.94… | S&P: -5.82…

NASDAQ Adv/Dec 1128/1677. …NYSE Adv/Dec 953/1915.

10:55AM ET

[BRIEFING.COM] Equity indices continue trading below yesterday's closing levels. The Dow is down 0.2%, the S&P 500 is lower by 0.3%, and the Nasdaq shows a loss of 0.6%.

The Department of Energy reported that U.S. crude inventories decreased for the eighth consecutive week, dropping 4.9 million barrels for the week ended January 5. The consensus estimate called for a draw of 7.4 million barrels. Gasoline inventories increased by 4.1 million barrels.

West Texas Intermediate crude futures were up 0.6% ahead of the release and now trade higher by 0.4% at $63.23 per barrel.

The energy sector, which typically moves in tandem with the price of crude oil, trades ahead of the broader market, showing a loss of 0.1%. Exxon Mobil (XOM 86.56, -0.20) is down 0.3% while Chevron (CVX 127.91, +0.07) sports a gain of 0.1%.

Dow: -75.97… | Nasdaq: -45.85… | S&P: -9.56…

NASDAQ Adv/Dec 1062/1743. …NYSE Adv/Dec 883/1953.

10:30AM ET

[BRIEFING.COM] Commodities begin the day higher:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently +0.1% at 88.2234
Dollar index is currently -0.4% at 91.91
Jan WTI crude is up 0.3% on the day.
Futures are $0.19 higher to $63.15/barrel.
In other energy, Jan natural gas is down $0.01 at $2.91/MMBtu
The EIA reports that for the week ending Jan 5th:
Crude oil inventories had a draw of 4.948 mln barrels
Gasoline inventories had a build of 4.135 mln barrels
Distillate inventories had a build of 4.254 mln barrels
Metals:
Feb gold gained $6.2 and trades at $1319.9/oz, while Mar silver gained $0.06 to $17.07/oz
Mar copper gained 0.03 to $3.25/lb
Finally, agriculture:
Mar corn is unchanged at $3.49/bu.
Jan soy is down $0.08 at $9.5625/bu.
Mar wheat is up $0.01 at $4.33/bu.

Dow: -33.45… | Nasdaq: -35.36… | S&P: -5.55…

NASDAQ Adv/Dec 1033/1722. …NYSE Adv/Dec 926/1908.

10:00AM ET

[BRIEFING.COM] Stocks have extended their opening losses in recent action. The S&P 500 is lower by 0.4%.

Just in, November Wholesale Inventories increased 0.8% (Briefing.com consensus +0.7%). The October reading was revised to -0.4% from -0.5%.

Dow: -101.87… | Nasdaq: -43.87… | S&P: -11.44…

NASDAQ Adv/Dec 925/1808. …NYSE Adv/Dec 778/2011.

09:40AM ET

[BRIEFING.COM] The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average hold losses of 0.3% apiece.

Most sectors are trading in the red, but losses have been modest; no group is down more than 0.7%. The lightly-weighted utilities (-0.7%), telecom services (-0.6%), and real estate (-0.7%) groups are the weakest performers while the financials (+0.3%) and energy (+0.3%) spaces are the strongest.

As a reminder, Wholesale Inventories for November (Briefing.com consensus +0.7%) will be released at 10:00 AM ET, and the weekly crude oil inventory report from the Department of Energy will cross the wires at 10:30 AM ET. WTI crude futures are up 0.7% at $63.40 per barrel.

Dow: -65.54… | Nasdaq: -23.27… | S&P: -6.93…

NASDAQ Adv/Dec 875/1797. …NYSE Adv/Dec 699/1984.

09:10AM ET

[BRIEFING.COM] S&P futures vs fair value: -8.30. Nasdaq futures vs fair value: -35.00.

Stocks are set to open today's session in the red as the S&P 500 futures trade eight points, or 0.3%, below fair value.

Investors are ready to take some profits following six straight sessions of gains and a Bloomberg report that China may dial back, or halt, its purchases of U.S. sovereign debt. Treasury yields have increased for the second day in a row in reaction to the report; the benchmark 10-yr yield is up four basis points at 2.59%, increasing its week-to-date gain to eleven basis points.

West Texas Intermediate crude futures are up 0.7% at $63.42 per barrel after the American Petroleum Institute reported on Tuesday evening that U.S. crude inventories declined by 11.1 million barrels last week. The official government figures, which have shown a draw for seven weeks in a row, will be released at 10:30 AM ET.

On the data front, import prices excluding oil decreased 0.1% in December after increasing a revised 0.1% in November (from 0.0%), while Export prices excluding agriculture were flat (0.0%) after increasing an unrevised 0.6% in November. The key takeaway from the report is that it will continue to foment budding inflation concerns, especially since the dollar is weakening, labor markets are tightening, and global growth is improving.

Separately, the weekly MBA Mortgage Applications Index increased 8.3% to follow last week's 2.8% decline.

Today's last economic report, Wholesale Inventories for November (Briefing.com consensus +0.7%), will be released at 10:00 AM ET.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -10.50. Nasdaq futures vs fair value: -37.00.

The S&P 500 futures trade 11 points, or 0.4%, below fair value.

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note as yields continued climbing. For instance, Japan's 10-yr JGB yield edged up two basis points to 0.087%, its highest level since July. U.S. Treasury yields climbed after Bloomberg reported that China may slow or stop buying U.S. Treasuries. Separately, Nikkei reported that Japan's Financial Services Agency is preparing possible plans of action for ailing regional banks. This includes possible injections of public funds and oversight of integration of management between institutions. Elsewhere, South Korean press reported that Hyundai Heavy Industries will cut 2,500 jobs.

In economic data:
China's December CPI +0.3% month-over-month (expected 0.4%: last 0.0%); +1.8% year-over-year (consensus 1.9%; last 1.7%). December PPI +4.9% year-over-year (expected 4.8%; last 5.8%)
South Korea's December Unemployment Rate 3.6% (last 3.7%)

---Equity Markets---

Japan's Nikkei shed 0.3%. Asahi Group Holdings, Shiseido, Tokai Carbon, Kirin Holdings, Sapporo Holdings, Shin-Etsu Chemical, Tokyo Electron, Konami, Olympus, and Familymart posted losses between 1.5% and 3.9%.
Hong Kong's Hang Seng added 0.2%. Country Garden Holdings spiked 6.7% while energy names and financials like CNOOC, HSBC, China Petrol & Chemical, PetroChina, Bank of China, and Hang Seng Bank rose between 0.3% and 1.7%.
China's Shanghai Composite ticked up 0.2%. BlueStar Adisseo, AVIC Shenyang Aircraft, Shenzhen Kingdom Technology, Sichuan Languang Development, Hundsun Technologies, and Changyuan Group posted gains between 4.8% and 7.4%.
India's Sensex settled just below its flat line. Dr. Reddy's Labs, Bajaj Auto, SBI, Tata Motors, and GAIL lost between 0.7% and 1.5%. On the upside, Infosys, Wipro, and Tata Consultancy climbed between 1.0% and 3.6%.

Major European indices trade on a mostly lower note while Italy's MIB (+0.4%) has bucked the trend. As reported yesterday, Italy's anti-establishment Five-Star Movement now opposes exiting the single currency. Reports indicate Germany is strongly opposed to the post-Brexit trade deal proposed by the UK. The British Chamber of Commerce conducted a survey, which showed caution among services and manufacturing companies in the UK. The survey noted that companies expect that an "underwhelming growth trajectory" will continue.

In economic data:
UK's November Industrial Production +0.4% month-over-month, as expected (last 0.2%); +2.5% year-over-year (consensus 1.8%; last 4.3%). November Manufacturing Production +0.4% month-over-month (expected 0.3%; last 0.3%); +3.5% year-over-year (consensus 2.8%; last 4.7%). November Construction Output +0.4% month-over-month (expected 0.5%; last -1.1%); +0.4% year-over-year (consensus -1.1%; last 1.3%). November trade deficit GBP12.23 billion (expected deficit of GBP11.00 billion; last deficit of GBP11.68 billion)
France's November Industrial Production -0.5% (expected -0.4%; last 1.7%)

---Equity Markets---

Germany's DAX is down 0.9% amid broad weakness. Continental, Fresenius, Bayer, Henkel, BASF, BMW, Merck, Volkswagen, and Siemens sport losses between 0.9% and 3.4%. Financials outperform with Deutsche Bank, Deutsche Boerse, and Commerzbank rising between 1.0% and 4.6%.
France's CAC is lower by 0.4%. Danone, Peugeot, Renault, Carrefour, Michelin, Essilor International, and Pernod Ricard have given up between 1.0% and 2.0%. On the upside, AXA, Societe Generale, and Credit Agricole are up between 1.1% and 2.1%.
UK's FTSE is up 0.2% with financials showing relative strength. RBS, Standard Chartered, HSBC, Prudential, Aviva, and RSA Insurance have added between 0.5% and 4.2%. On the downside, homebuilders like Berkeley Group, Barratt Developments, Persimmon, and Taylor Wimpey are down between 1.7% and 4.7%.
Italy's MIB is up 0.4%, trading just below its 2017 high. Banco Bpm, Intesa Sanpaolo, Bper Banca, UBI Banca, UniCredit, and Mediobanca are up between 2.3% and 4.3%.


08:34AM ET

[BRIEFING.COM] S&P futures vs fair value: -8.80. Nasdaq futures vs fair value: -33.00.

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

Just in, import prices excluding oil decreased 0.1% in December after increasing a revised 0.1% in November (from 0.0%). Export prices excluding agriculture were flat in December (0.0%) after increasing an unrevised 0.6% in November.

08:00AM ET

[BRIEFING.COM] S&P futures vs fair value: -10.80. Nasdaq futures vs fair value: -36.50.

The U.S. equity market is on course for a lower open this morning, putting its six session winning streak in jeopardy. The S&P 500 futures are down 0.4%, the Dow futures trade lower by 0.5%, and the Nasdaq futures show losses of 0.6%.

It's tough to say there is a single catalyst for the weakness in equities as a pullback is probably overdue following a solid start to 2018--the S&P 500's best start since 1987. However, an increase in Treasury yields definitely isn't helping the bulls; the benchmark 10-yr yield is up four basis points at 2.59%, increasing its week-to-date gain to eleven basis points.

The increase in yields follows a Bloomberg report that China may dial back its purchases of U.S. sovereign debt.

It's also worth pointing out the Bank of Japan on Tuesday decided to trim its daily purchases of government bonds, and bond Bill Gross warned of a bond bear market after 5-yr and 10-yr Treasuries broke a 25-year trendline. However, Mr. Gross did make a similar call last January.

West Texas Intermediate crude futures are up 0.9% at $63.55 per barrel, a new three-year high, after the American Petroleum Institute reported on Tuesday evening that U.S. crude inventories declined by 11.1 million barrels last week. The official government figures, which have shown a draw for seven weeks in a row, will be released by the Department of Energy at 10:30 AM ET.

Elsewhere, equity indices in Asia finished Wednesday on a mixed note, with Japan's Nikkei (-0.3%) slipping from a 26-year high, and the Euro Stoxx 50 is down 0.6%.

Investors will receive Import/Export Prices for December at 8:30 AM ET and Wholesale Inventories for November (Briefing.com consensus +0.7%) at 10:00 AM ET. The weekly MBA Mortgage Applications Index, which was released earlier, increased 8.3% to follow last week's 2.8% decline.

In U.S. corporate news:

Signet Jewelers (SIG 53.16, -3.43): -6.1% after reporting a 5.3% decrease in holiday comparable sales.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the midweek session on a mixed note as yields continued climbing; Japan's 10-yr JGB yield edged up two basis points to 0.087%, its highest level since July. Japan's Nikkei -0.3%, Hong Kong's Hang Seng +0.2%, China's Shanghai Composite +0.2%, India's Sensex unch.
In economic data:
China's December CPI +0.3% month-over-month (expected 0.4%: last 0.0%); +1.8% year-over-year (consensus 1.9%; last 1.7%). December PPI +4.9% year-over-year (expected 4.8%; last 5.8%)
South Korea's December Unemployment Rate 3.6% (last 3.7%)
In news:
U.S. Treasury yields climbed after Bloomberg reported that China may slow or stop buying U.S. Treasuries.
Separately, Nikkei reported that Japan's Financial Services Agency is preparing possible plans of action for ailing regional banks. This includes possible injections of public funds and oversight of integration of management between institutions.
South Korean press reported that Hyundai Heavy Industries will cut 2,500 jobs.

Major European indices trade on a mostly lower note while Italy's MIB (+0.3%) has bucked the trend. Germany's DAX -0.9%, France's CAC -0.4%, UK's FTSE unch.
In economic data:
UK's November Industrial Production +0.4% month-over-month, as expected (last 0.2%); +2.5% year-over-year (consensus 1.8%; last 4.3%). November Manufacturing Production +0.4% month-over-month (expected 0.3%; last 0.3%); +3.5% year-over-year (consensus 2.8%; last 4.7%). November Construction Output +0.4% month-over-month (expected 0.5%; last -1.1%); +0.4% year-over-year (consensus -1.1%; last 1.3%). November trade deficit GBP12.23 billion (expected deficit of GBP11.00 billion; last deficit of GBP11.68 billion)
France's November Industrial Production -0.5% (expected -0.4%; last 1.7%)
In news:
As reported yesterday, Italy's anti-establishment Five-Star Movement now opposes exiting the single currency.
Reports indicate Germany is strongly opposed to the post-Brexit trade deal proposed by the UK.
The British Chamber of Commerce conducted a survey, which showed caution among services and manufacturing companies in the UK. The survey noted that companies expect that an "underwhelming growth trajectory" will continue.


05:49AM ET

[BRIEFING.COM] S&P futures vs fair value: -12.30. Nasdaq futures vs fair value: -35.00.
05:49AM ET

[BRIEFING.COM] Nikkei

...23788...-61.80

...-0.30%

. Hang Seng

...31074...+62.30

...+0.20%

.
05:49AM ET

[BRIEFING.COM] FTSE

...7740.62...+9.60

...+0.10%

. DAX

...13284.65...-100.90

...-0.80%

.
04:30PM ET

[BRIEFING.COM] The new year rally continued on Tuesday as stocks hit new records for the sixth consecutive session.

The Dow Jones Industrial Average set the pace, jumping 0.4% to 25385.80, while the S&P 500 and the Nasdaq Composite ticked up 0.1% to 2751.29 and 7163.58, respectively. All three major stock indices posted new record closes, but a late wave of selling left them a step below their best marks of the day. The small-cap Russell 2000 lost 0.1%.

Two of the S&P 500's heaviest sectors--health care and financials--led the charge on Tuesday, bouncing back from a disappointing showing on Monday. The health care sector jumped 1.1% amid broad strength with Dow component Johnson & Johnson (JNJ 144.14, +2.25) climbing 1.6% to a new record high and Boston Scientific (BSX 27.96, +2.15) adding 8.3% after raising its sales guidance for the fourth quarter. Biotech shares also outperformed, sending the iShares Nasdaq Biotechnology ETF (IBB 110.41, +2.04) higher by 1.9%.

Meanwhile, the financial sector rallied 0.7% amid a steepening of the yield curve, which translates to an increase in the spread between what lenders charge on loans and what they pay on deposits. The yield on the benchmark 10-yr Treasury note jumped to 2.55% after settling Monday at 2.48% while the 2-yr yield finished flat at 1.96%.

The rise in longer-dated Treasury yields followed the Bank of Japan's decision to reduce daily purchases of 10-25 year government bonds by 5.0%. Reports that the European Central Bank may terminate its purchase program later this year also helped push yields higher. Asian equities advanced on Tuesday with Japan's Nikkei (+0.6%) closing at a 26-year high while the Euro Stoxx 50 climbed 0.2%, securing its fifth consecutive victory.

Back on Wall Street, the industrial sector finished just a step below health care and financials at the top of the sector standings with a gain of 0.6%. Boeing (BA 318.43, +8.28) jumped 2.7% to a new record high, helping give the Dow an edge over the S&P 500 and the Nasdaq; Boeing is the priciest, and therefore the most influential, component in the price-weighted Dow.

The consumer discretionary sector (+0.1%) also finished in the green, but the seven remaining groups settled in the red. The top-weighted technology space lost 0.3% with semiconductor giant Intel (INTC 43.62, -1.12) losing 2.5%. INTC shares extended early losses after Microsoft (MSFT 88.22, -0.06) said fixes for Intel chip vulnerabilities--which were reported last week--could significantly slow certain servers and personal computers.

Retailers struggled in general, trimming gains from a two-month run, but Target (TGT 69.14, +1.96) had a positive outing after raising its earnings guidance for the fourth quarter. TGT shares added 2.9% while the SPDR S&P 500 Retail ETF (XRT 45.81, -0.49) declined 1.1%.

Outside the equity market, West Texas Intermediate crude futures advanced 1.9% to $62.92 per barrel, closing at a three-year high. The advance came in front of tomorrow morning's weekly crude inventory report from the Energy Information Administration, which has shown a draw in U.S. inventories for seven weeks in a row. The energy sector, which typically moves in tandem with energy prices, lost 0.3%, trimming its 2018 gain to 4.2%.

Elsewhere, representatives from North Korea and South Korea met for the first time in over two years. The two sides agreed to hold joint military talks and North Korea will send a delegation to the Winter Olympics in Pyeongchang, a promising sign for the international community, which has been at odds with North Korea over its nuclear program.

Reviewing Tuesday's economic data, which was limited to the Job Openings and Labor Turnover Survey for November and the NFIB Small Business Optimism Index for December:

The November Job Openings and Labor Turnover Survey showed that job openings decreased to 5.879 million from a revised 5.925 million (from 5.996 million) in October.
The NFIB Small Business Optimism Index for December slipped to 104.9 from 107.5 in November.

On Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00 ET, Import/Export Prices for December at 8:30 ET, and Wholesale Inventories for November (Briefing.com consensus +0.7%) at 10:00 ET.

Nasdaq Composite: +3.8% YTD
S&P 500: +2.9% YTD
Dow Jones Industrial Average: +2.7% YTD
Russell 2000: +1.6% YTD

Dow: +102.80… | Nasdaq: +6.19… | S&P: +3.58…

NASDAQ Adv/Dec 1213/1395. …NYSE Adv/Dec 1219/1708.

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 and data will be useful for you.

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

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

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

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

Advance WRB Analysis Tutorial Chapters 5 - 12 @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm

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M.A. Perry
Online user name wrbtrader (more info about me) @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850 & http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading (no indicators)
Trader and Founder of WRB Analysis (wide range body/bar analysis)
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