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 @ $1025.00 dollars or +20.50 points, Light Crude Oil CL ($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 @ $1025.00 dollars

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis.

Russell 2000 Emini 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: All of my live trades are posted real-time in the timestamp ##TheStrategyLab free chat room via the user name wrbtrader for anyone to do a real-time review. The live trade is posted 3.2 seconds on average after the trade confirmation via an auto script to minimize delays in posting of my trades. You can review today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility 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. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=171&t=2651

##TheStrategyLab Chat Room is free. The free chat room is not a signal calling trading room. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of TheStrategyLab free chat room is for you to use as your trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. In addition, we highly recommend that you use the free chat room with a professional trade journal software like tradebench.com, edgewonk.com, tradervue.com, tradingdiarypro.com, stocktickr.com, journalsqrd.com, tradingdiary.pro, mxprofit.com or trademetria.com because they can provide you with the quantitative statistical analysis of your trading. You can then download your results and post them in your private thread at the forum. Also, you can use TheStrategyLab free chat room to ask real-time WRB Analysis questions. Yet, please do not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for security reasons. TheStrategyLab free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages, many different mobile apps and many different types of social media software can be used to log in. I'm the moderator of the free chat room via the user name wrbtrader. Thus, I keep the peace between members without hesitation in removing trouble makers so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets without being trolled.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell. TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164


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

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

Analysis -----> Trade Signals

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

Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=327&t=3486 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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

Market Context Summaries

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


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


The Market at 04:30PM ET
Dow: +23.89… | Nasdaq: +42.51… | S&P: +9.30…
NASDAQ Vol: 1.97 bln… Adv: 1475… Dec: 1161…
NYSE Vol: 936.1 mln… Adv: 1787… Dec: 1151…

Moving the Market

Core PCE Price Index increases less than expected in August (+0.1% actual vs +0.2% Briefing.com consensus)

Influential technology and health care sectors exhibit relative strength

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

[BRIEFING.COM] Equities ended the week, and the quarter, on a positive note, sending the S&P 500 (+0.4%) higher for the fourth session in a row. The benchmark index finished at a new record high, as did the Nasdaq (+0.7%) and the Russell 2000 (+0.1%), while the Dow (+0.1%) settled about eight points short of its record mark. For the week, the S&P 500 added 0.7%.

Technology stocks were in demand on Friday, with chipmakers showing particular strength; the PHLX Semiconductor Index climbed 0.9%. Semiconductor giant NVIDIA (NVDA 178.77, +3.09) advanced 1.8% after Citigroup raised its target price to $210 from $185 while Micron Technology (MU 39.33, +1.37) did even better (+3.6%), extending its three-day post earnings gain to 15.1%.

Mega-cap tech names like Facebook (FB 170.81, +2.08) and Alphabet (GOOGL 973.72, +8.91) also outperformed, settling with respective gains of 1.2% and 0.9%.

The S&P 500's technology sector (+0.8%), which is the largest sector by weight, finished at the top of Friday's sector standings, followed closely by the also influential health care space (+0.6%). On the flip side, the energy sector (unch) showed relative weakness, but it did manage to settle at the top of the week's leaderboard with a weekly gain of 1.9%.

In corporate news, KB Home (KBH 24.12, +1.90) jumped 8.6% after reporting better-than-expected earnings and revenues for its fiscal third quarter. Similarly, Tyson Foods (TSN 70.45, +5.00) climbed 7.6% to an 11-month high after raising its guidance for the fiscal year, citing better-than-expected earnings in the beef segment of its business.

The core PCE Price Index--which is the Fed's preferred gauge of inflation--came in below expectations, showing a month-over-month increase of 0.1% in August (Briefing.com consensus +0.2%). On a year-over-year basis, the index is up 1.3%, down from 1.4% in the prior reading, and still a ways below the Fed's target of 2.0%.

Despite the cooler-than-expected PCE reading, investors did not adjust their rate-hike expectations; the fed funds futures market still points to the December FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 77.9%, up slightly from Thursday's 77.5%.

U.S. Treasuries sold off on Friday, securing their third-consecutive weekly decline. The yield on the benchmark 10-yr Treasury note climbed two basis points to 2.33%. Meanwhile, the U.S. Dollar Index settled a tick below its flat line at 92.89 to finish the week with a gain of 1.0%.

In Washington, President Trump said he plans to make a decision on who will become the next Fed Chair sometime in the next 2-3 weeks. Reports indicate that current Fed Chair Janet Yellen and former Fed Governor Kevin Warsh are the front runners for the appointment.

Also of note, the Catalan independence referendum remains scheduled for Sunday despite stern opposition from the Spanish central government.

Reviewing Friday's economic data, which included August Personal Income, Personal Spending, and core PCE Prices, September Chicago PMI, and the final reading of the University of Michigan Consumer Sentiment Index for September:

Personal income ticked up 0.2% in August (Briefing.com consensus +0.2%) after a revised reading of 0.3% for July (from 0.4%). Personal spending rose 0.1% (Briefing.com consensus +0.1%), while the prior month's reading was left unrevised at 0.3%. The core PCE Price Index, which excludes food and energy, increased 0.1% (Briefing.com consensus +0.2%). Year-over-year, the core PCE Price Index is up 1.3%.
The key takeaway from the report is that it was more of the same: weak income growth, disappointing spending growth, and continued "lowflation."
Chicago PMI for September hit 65.2 (Briefing.com consensus 58.0), up from 58.9 in August.
The key takeaway from the report is that the Order Backlogs Index hit a 29-year high, suggesting production levels should remain robust barring a marked increase in order cancellation rates.
The final reading of the University of Michigan Consumer Sentiment Index for September remained at 95.1 (Briefing.com consensus 95.4), unchanged from the preliminary reading.
The key takeaway from the report is that consumer sentiment held up despite rising (geo)political uncertainty and the impact of the hurricanes that hit Texas and Florida.

On Monday, investors will receive two pieces of economic data--the September ISM Index (Briefing.com consensus 57.8) and August Construction Spending (Briefing.com consensus 0.2%). Both reports will be released at 10:00 ET.

Nasdaq Composite +20.7% YTD
Dow Jones Industrial Average +13.4% YTD
S&P 500 +12.5% YTD
Russell 2000 +9.9% YTD

Week In Review: Reflation Trade Returns

Enticed by the idea of a tax overhaul, investors pushed equities higher once again this week, sending the S&P 500 (+0.7%), the Nasdaq (+1.1%), and the small-cap Russell 2000 (+2.8%) to new record highs. The Dow lagged this week, but still managed to eke out a modest gain (+0.3%). The S&P 500 finished the third quarter with a gain of 4.0%.

Technology stocks weighed on the broader market on Monday as investors engaged in a sector rotation trade that left the S&P 500's technology sector lower by 1.4%. Technology names were weak from the jump, but selling accelerated following comments from North Korea's foreign minister, who said that President Trump effectively declared war against North Korea in his U.N. speech last week and, therefore, Pyongyang has the right to take countermeasures against the U.S.--including shooting down U.S. strategic bombers, even if they're not in North Korean airspace.

Investors turned their attention to Fed Chair Janet Yellen on Tuesday as she gave a speech entitled "Inflation, Uncertainty, and Monetary Policy" at the NABE's annual meeting. Ms. Yellen defended a gradual path of rate hikes despite continued uncertainty in the area of inflation, but her comments didn't move the financial markets; equities finished the session flat.

Things turned around for the equity market on Wednesday as investors cheered the GOP's tax reform outline, sending equities into positive territory for the week. Some of the most notable highlights of the plan include cutting the corporate tax rate to 20% from 35%, doubling the standard deduction, and reducing the number of tax brackets to three from seven. The plan calls for trimming the highest tax rate to 35.0% from 39.6%, but Congress will have the option to add a fourth bracket for the very top earners.

Details on how the government will make up for the immediate loss in tax revenue were limited. This topic will likely be an area of contention for the GOP going forward as many conservatives are opposed to the idea of driving up the federal deficit, which would probably be necessary to fund the tax overhaul--at least in the short term.

Market-moving headlines were scarce on Thursday, but that didn't prevent the S&P 500 from ticking up and registering a new record close. Roku (ROKU) opened for trading on the Nasdaq exchange on Thursday and had a solid first day, settling 67.9% above its IPO price of $14.00 per share.

Investors pushed stocks higher once again on Friday after the core PCE Price Index--the Fed's preferred gauge for inflation--for August came in below expectations, showing a month-over-month increase of 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, the core PCE Price Index is up 1.3%, down from 1.4% in the prior reading, and still a ways below the Fed's target of 2.0%.

Still, the fed funds futures market projects that the next rate hike will occur at the December FOMC meeting with an implied probability of 77.9%, up from 72.8% last week.

Dow: +23.89… | Nasdaq: +42.51… | S&P: +9.30…

NASDAQ Adv/Dec 1475/1161. …NYSE Adv/Dec 1787/1151.

03:35PM ET

[BRIEFING.COM] Commodities end the day lower:

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down 0.21% at 84.4598
Dollar index is down 0.07% at 93.02.
In energy, the Baker Hughes U.S. rig count was released at 1pm ET.
The rig count increased by 5 to 940 following last week's decline of 1
Futures settled $0.11 higher to $51.68/barrel.
In other energy, Nov natural gas settled down $0.02 at $3.00/MMBtu
On to metals:
Dec gold lost $3.70 to settle at $1284.70/oz, while Sept silver dropped $0.16 to $16.68/oz
Dec copper settled $0.03 lower to $2.95/lb
In agriculture, the USDA released its monthly grain stocks report. A quick summary is provided below:
Corn stocks up 32% from September 2016
Soybean stocks up 53%
All wheat stocks down 11%
Commodities settlement prices:
Dec corn settled $0.03 higher at $3.56/bu.
Nov soy settled $0.07 higher at $9.68/bu.
Dec wheat settled $0.06 lower at $4.49/bu.

Dow: -7.84… | Nasdaq: +35.59… | S&P: +6.44…

NASDAQ Adv/Dec 1580/1204. …NYSE Adv/Dec 1715/1215.

03:00PM ET

[BRIEFING.COM] The major averages are mostly higher going into the final stretch; the S&P 500 holds a gain of 0.3%.

Seven sectors are currently trading in the green--technology (+0.6%), consumer discretionary (+0.3%), health care (+0.3%), financials (+0.3%), industrials (+0.2%), telecom services (unch), and materials (unch)--while four are trading in the red--consumer staples (-0.1%), utilities (-0.1%), real estate (-0.2%), and energy (-0.2%).

On the earnings front, investors will receive reports from several notable companies next week, including PepsiCo (PEP 111.34, -0.30), Monsanto (MON 119.90, +0.24), Costco (COST 164.76, +0.86), and Constellation Brands (STZ 199.39, +0.09). PEP and MON will report on Wednesday while COST and STZ will report on Thursday.

Dow: -3.74… | Nasdaq: +38.67… | S&P: +6.92…

NASDAQ Adv/Dec 1643/1152. …NYSE Adv/Dec 1748/1173.

02:25PM ET

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

The consumer staples sector (-0.1%) has struggled today despite a solid performance from Tyson Foods (TSN 70.42, +4.97), which has jumped 7.6%, hitting a fresh 2017 high. Traders have rallied around the food industry giant after it raised its guidance for the fiscal year, citing better-than-expected earnings in the beef segment of its business.

For the quarter, the consumer staples group trades at the bottom of the sector standings with a quarter-to-date loss of 2.0%.

Meanwhile, the CBOE Volatility Index (VIX 9.52, -0.03) has ticked down 0.3% in today's session, remaining below the historically-low 10.00 mark. Today's slip puts the VIX at its lowest level in two months.

Dow: -25.20… | Nasdaq: +36.63… | S&P: +6.22…

NASDAQ Adv/Dec 1654/1152. …NYSE Adv/Dec 1720/1178.

02:00PM ET

[BRIEFING.COM] Equities continue trading near their best marks of the day, with the S&P 500 sporting a gain of 0.3%.

Transports are trading roughly in line with the broader market today, evidenced by the Dow Jones Transportation Average, which is up 0.3%. Within the DJTA, JB Hunt Transport (JBHT 111.19, +2.29) is the top performer, by a relatively wide margin, after Stifel upgraded JBHT shares to 'Buy' from 'Hold' this morning. Today's advance places JB Hunt Transport at a fresh all-time high.

The Dow Jones Transportation Average settled at a record high yesterday (9,886.82) and is poised to end the third quarter with a gain of 3.7%. For comparison, the S&P 500 has added 3.9% since the end of June.

Dow: -20.19… | Nasdaq: +37.69… | S&P: +6.44…

NASDAQ Adv/Dec 1655/1144. …NYSE Adv/Dec 1707/1169.

01:25PM ET

[BRIEFING.COM] The major averages continue hovering near their recent levels with the Nasdaq Composite (+0.6%) displaying relative strength. The tech-heavy index is on track to gain 1.0% for the week while the S&P 500 (+0.3%) has added 0.6% since last Friday.

Today's session represents the end of the quarter, which, on the whole, was positive for the stock market. The S&P 500 is up 3.9% since the end of the second quarter while the Nasdaq has gained 5.8%. Nine of eleven sectors are on track to record quarterly gains while countercyclical consumer staples (UNCH; -1.9% quarter-to-date) and real estate (-0.1%; -0.1% quarter-to-date) are set to finish in the red. On the upside, the top-weighted technology sector (+0.7%) has jumped 8.3% since the end of the second quarter, followed by energy (-0.3%), which has gained 5.8% in the third quarter.

Treasuries have not moved much today, alternating between slim gains and losses. The 10-yr yield is up one basis point at 2.32%, hovering just below its 200-day moving average of 2.326%.

Dow: -18.42… | Nasdaq: +39.46… | S&P: +6.63…

NASDAQ Adv/Dec 1674/1130. …NYSE Adv/Dec 1673/1193.

01:05PM ET

[BRIEFING.COM] Equities are looking to end the third quarter on a positive note as both the S&P 500 (+0.3%) and the Nasdaq (+0.6%) are currently trading at record intraday highs. The Dow (-0.1%) has struggled to keep pace thus far, but not the small-cap Russell 2000 (+0.3%), which is also trading at a new all-time high.

The core PCE Price Index--the Fed's preferred measure of inflation--for August crossed the wires this morning, showing a smaller-than-expected increase of 0.1% (Briefing.com consensus +0.2%). On a year-over-year basis, the index is up 1.3%, down from 1.4% last month, and still a ways below the Fed's target of 2.0%.

Still, investors' rate-hike expectations are largely unchanged following the reading; the fed funds futures market still predicts that the next rate hike will be announced in December with an implied probability of 77.9%, up slightly from yesterday's 77.5%. Fed Chair Yellen's Tuesday comments, in which she defended a gradual path of rate hikes despite tepid inflationary readings, have likely provided support.

In the bond market, U.S. Treasuries are modestly lower following today's batch of economic data, which also included August Personal Income, August Personal Spending, September Chicago PMI, and the final reading of the University of Michigan Consumer Sentiment Index for September; the benchmark 10-yr yield (2.32%) and the 2-yr yield (1.46%) are currently up one basis point apiece.

Technology stocks are rallying today, sending the S&P 500's technology sector (+0.8%) to the top of today's sector standings. Facebook (FB 171.07, +2.35) has exhibited notable strength (+1.4%), as has NVIDIA (NVDA 179.56, +3.88), which is up 2.2% after Citigroup raised its target price to $210 from $185 this morning.

As for the remaining ten sectors, seven are trading in positive territory, but gains have been limited; outside of technology, no space holds a gain of more than 0.4%. The real estate (-0.1%), materials (-0.2%), and energy (-0.1%) groups are currently the weakest sectors.

In earnings news, KB Home (KBH 24.37, +2.15) has jumped 9.6% to its highest level in over four years after reporting better-than-expected earnings and revenues for its fiscal third quarter. Similarly, Tyson Foods (TSN 70.54, +5.09) is up 7.8%, hovering at its best mark of the year, after raising its earnings guidance for fiscal year 2017.

It's also worth pointing out that Roku (ROKU 28.04, +4.54) is now trading 100% above its IPO price of $14.00 a share. The company, which makes devices that allow its customers to stream media from the internet to their TVs, began trading on the Nasdaq exchange on Thursday.

Reviewing Friday's economic data, which included August Personal Income, Personal Spending, and core PCE Prices, September Chicago PMI, and the final reading of the University of Michigan Consumer Sentiment Index for September:

Personal income ticked up 0.2% in August (Briefing.com consensus +0.2%) after a revised reading of 0.3% for July (from 0.4%). Personal spending rose 0.1% (Briefing.com consensus +0.1%), while the prior month's reading was left unrevised at 0.3%. The core PCE Price Index, which excludes food and energy, increased 0.1% (Briefing.com consensus +0.2%). Year-over-year, the core PCE Price Index is up 1.3%.
The key takeaway from the report is that it was more of the same: weak income growth, disappointing spending growth, and continued "lowflation."
Chicago PMI for September hit 65.2 (Briefing.com consensus 58.0), up from 58.9 in August.
The key takeaway from the report is that the Order Backlogs Index hit a 29-year high, suggesting production levels should remain robust barring a marked increase in order cancellation rates.
The final reading of the University of Michigan Consumer Sentiment Index for September remained at 95.1 (Briefing.com consensus 95.4), unchanged from the preliminary reading.
The key takeaway from the report is that consumer sentiment held up despite rising (geo)political uncertainty and the impact of the hurricanes that hit Texas and Florida.

Dow: -15.06… | Nasdaq: +42.91… | S&P: +7.26…

NASDAQ Adv/Dec 1707/1074. …NYSE Adv/Dec 1673/1166.

12:25PM ET

[BRIEFING.COM] The major averages haven't moved much over the last 30 minutes of action; the S&P 500 is still sporting a gain of 0.3%.

KB Home (KBH 24.25, +2.03) has climbed to its highest level in over four years after reporting better-than-expected earnings and revenues for its fiscal third quarter. KBH shares are currently up 9.1% and are helping the iShares U.S. Home Construction ETF (ITB 26.49, +0.32) trade comfortably ahead of the broader market (+0.8%).

The S&P 500's consumer discretionary sector (+0.4%), which houses homebuilders, is also trading ahead of the broader market amid broad strength. The sector's top component by market cap--Amazon (AMZN 963.64, +7.24)--has put together a solid performance, climbing 0.8%. The internet-retail giant is on track for its third win in a row.

Amazon has had a great year overall (+28.5% YTD), but slipped a bit in the third quarter (-0.5% QTD).

Dow: -4.75… | Nasdaq: +37.39… | S&P: +7.26…

NASDAQ Adv/Dec 1740/1039. …NYSE Adv/Dec 1690/1124.

12:00PM ET

[BRIEFING.COM] The equity market has continued strengthening this morning, sending both the Nasdaq (+0.5%) and the S&P 500 (+0.3%) to new all-time highs.

Eight sectors are currently trading in positive territory--technology (+0.6%), consumer discretionary (+0.4%), telecom services (+0.4%), industrials (+0.2%), financials (+0.2%), utilities (+0.2%), consumer staples (+0.2%), and health care (+0.1%)--while three groups trade in the red--materials (unch), real estate (-0.1%), and energy (-0.4%).

In the bond market, U.S. Treasuries are flat moving into the afternoon session; the yield on the benchmark 10-yr Treasury note is unchanged at 2.31%.

Also of note, President Trump is currently speaking at the National Association of Manufacturers (NAM) board meeting.

Dow: -3.68… | Nasdaq: +34.21… | S&P: +6.29…

NASDAQ Adv/Dec 1692/1074. …NYSE Adv/Dec 1668/1133.

11:25AM ET

[BRIEFING.COM] The Dow is lagging behind its peers this morning, showing a loss of 0.1%.

Within the Dow, health care names like Merck (MRK 63.55, -0.73) and UnitedHealth (UNH 195.01, -1.09) are among the weakest components, showing losses of 1.0% and 0.7%, respectively. Merck has been trending lower for two weeks now, losing nearly 4.0% since September 15. Today's slide places MRK shares at their 50-day simple moving average (63.66), a level they haven't crossed in a month.

Unsurprisingly, the S&P 500's health care sector (unch) is trading behind the broader market.

On the flip side, technology names like Microsoft (MSFT 74.37, +0.50) and Cisco Systems (CSCO 33.56, +0.21) trade at the top of the Dow leaderboard with gains of 0.6% apiece.

Dow: -13.25… | Nasdaq: +34.47… | S&P: +5.54…

11:00AM ET

[BRIEFING.COM] Equities have been ticking up as of late, sending the S&P 500 0.2% above its flat line. The tech-heavy Nasdaq (+0.3%) shows relative strength.

The top-weighted information technology sector (+0.4%) is pacing today's advance, underpinned by broad strength. Within the sector, Facebook (FB 170.54, +1.81) is one of the top performers (+1.1%), climbing above its 50-day simple moving average (169.51). NVIDIA (NVDA 177.45, +1.81) also shows notable strength, rising 1.0%, after Citigroup raised its target price to $210 from $185.

On the flip side, the energy sector (-0.2%) is hovering at the bottom of today's leaderboard, trimming its week-to-date advance to 1.7%. Still, the group is the week's top performer with second place going to the influential financial space (+1.3% WTD).

For comparison, the S&P 500 holds a week-to-date gain of 0.6%.

Dow: -15.82… | Nasdaq: +20.97… | S&P: +3.97…

NASDAQ Adv/Dec 1650/1099. …NYSE Adv/Dec 1672/1087.

10:25AM ET

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

Overall, commodities, as measured by the Bloomberg Commodity Index, are currently down $0.13 at 84.5214
The dollar index is up 0.14% at 93.22.
Oct WTI crude is lower this morning leading in to the Baker Hughes U.S. rig count at 1pm ET.
Last weeks rig count declined by 1 to 935.
Futures are $0.24 lower to $51.32/barrel.
In other energy, Oct natural gas is down $0.012 at $3.005/MMBtu
Metals are moving lower:
Dec gold has lost $1.80 and trades at $1286.90/oz, while Sept silver has dropped $0.082 to $16.765/oz
Sept copper has lost $0.015 to $2.966/lb
Finally, agriculture:
Dec corn is up $0.0025 at $3.5275/bu.
Nov soy is down $0.025 at $9.57/bu.
Dec wheat is up $0.0175 at $4.5675/bu.

Dow: -18.29… | Nasdaq: +13.8… | S&P: +1.21…

NASDAQ Adv/Dec 1589/1174. …NYSE Adv/Dec 1512/1193.

10:00AM ET

[BRIEFING.COM] Equity indices continue hovering near their opening marks.

The final reading of the University of Michigan Consumer Sentiment Index for September remained at 95.1 (Briefing.com consensus 95.4), unchanged from the preliminary reading.

Dow: -24.19… | Nasdaq: +7.53… | S&P: +0.35…

NASDAQ Adv/Dec 1550/1141. …NYSE Adv/Dec 1431/1204.

09:45AM ET

[BRIEFING.COM] Stocks opened Friday's session mixed; the S&P 500 is flat while the Nasdaq (+0.2%) shows relative strength and the Dow (-0.2%) shows relative weakness.

Most sectors are trading in the red, but the influential technology (+0.4%) and health care (+0.2%) groups have bucked the bearish trend. On the flip side, the energy and telecom services groups are trading at the bottom of the leaderboard with losses of 0.4% and 0.6%, respectively.

Just reported, Chicago PMI for September hit 65.2 (Briefing.com consensus 58.0), up from 58.9 in August.

Dow: -37.93… | Nasdaq: +15.01… | S&P: +0.71…

NASDAQ Adv/Dec 1580/1039. …NYSE Adv/Dec 1404/1167.

09:15AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: +9.50.

The stock market is on track to open Friday's session, which marks the end of the third quarter, modestly lower as investors digest the latest core PCE Prices reading. The S&P 500 futures currently trade two points, or 0.1%, below fair value.

Investors received the core PCE Price Index--the Fed's preferred gauge of inflation--for the month of August this morning. The reading came in cooler than expected, showing a month-over-month increase of 0.1% (Briefing.com consensus +0.2%), which has led to a slight downward adjustment of the market's rate hike expectations. On a year-over-year basis, the core PCE Price Index is up 1.3%, which is a ways below the Fed's target of 2.0%.

According to the CME FedWatch Tool, the market believes the chances of a December rate hike are around 72.8%, down slightly from 75.4% ahead of the release.

Market participants also received August Personal Income and Personal Spending, both of which hit estimates; Personal Income increased 0.2% in August while Personal Spending ticked up 0.1%. Today's last economic reports--the September Chicago PMI (Briefing.com consensus 58.0) and the final reading of the University of Michigan Consumer Sentiment Index for September (Briefing.com consensus 95.4)--will be released at 9:45 ET and 10:00 ET, respectively.

In corporate news, KB Home (KBH 23.10, +0.88) is up 4.0% in pre-market action after reporting better-than-expected earnings and revenues. Similarly, Tyson Foods (TSN 68.55, +3.10) is up 4.7% after increasing its earnings guidance for the fiscal year. NVIDIA (NVDA 178.94, +3.26) has climbed 1.9% after Citigroup raised its target price to $210 from $185 this morning.

U.S. Treasuries are modestly higher this morning, sending yields slightly lower; the benchmark 10-yr yield is down one basis point at 2.30%.

The S&P 500 enters Friday's session with a week-to-date gain of 0.3%. Small caps have been outperforming all week, evidenced by the Russell 2000, which currently holds an impressive week-to-date gain of 2.6%. The Russell 2000 has settled at a fresh record high for five sessions in a row.

08:50AM ET

[BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: +6.90.

The S&P 500 futures trade three points, or 0.1%, below fair value.

Equity indices in the Asia-Pacific region ended the week on a mostly higher note, but trading ranges were fairly narrow, making for a quiet end of the quarter. Markets in China and Hong Kong will be closed for a good portion of next week due to Golden Week celebrations. Press reports from Hong Kong indicate China's Premier Li Keqiang will stay for another term. South Korea's financial regulator all forms of initial coin offerings in South Korea. In Japan, Finance Minister Taro Aso said the primary balance target for fiscal year 2020 needs to be delayed 'a bit.'

In economic data:
Japan's August Retail Sales +1.7% year-over-year (consensus 2.6%; last 1.8%), August Industrial Production +2.1% month-over-month (expected 1.9%; last -0.8%), and August Household Spending +0.2% month-over-month (expected -0.2%; last -1.9%); +0.6% year-over-year (consensus 1.0%; last -0.2%). August National CPI +0.7% year-over-year, as expected and September Tokyo CPI +0.5% year-over-year (expected 0.6%; last 0.5%). August Unemployment Rate held at 2.8%, as expected. August Housing Starts -2.0% year-over-year (consensus 0.9%; last -2.3%) and August Construction Orders -10.6% year-over-year (last 14.9%)
South Korea's October Manufacturing BSI Index 79 (last 84). August Industrial Production +0.4% month-over-month (last 1.7%); +2.7% year-over-year (last -0.2%). Retail Sales -1.0% month-over-month (last 0.1%)
Australia's August Housing Credit +0.5% (last 0.5%) and August Private Sector Credit +0.5% month-over-month, as expected (last 0.5%)

---Equity Markets---

Japan's Nikkei settled just below its flat line, but added 0.3% for the week. Yamato Holdings, Familymart, Ricoh, Yamaha Motor, Komatsu, Isuzu Motors, Hitachi Construction, DOWA Holdings, and Olympus lost between 1.0% and 6.9%. On the upside, Credit Saison, Alps Electric, Takeda Pharmaceuticals, and Sony rose between 1.6% and 4.4%.
Hong Kong's Hang Seng advanced 0.5%, narrowing this week's loss to 1.2%. Consumer names like China Mengniu Dairy and Want Want China posted respective gains of 5.0% and 2.6% while select financials had a good showing. ICBC, Ping An Insurance, Citic Pacific, Link Reit, Hang Seng Bank, and HSBC gained between 0.5% and 1.2%.
China's Shanghai Composite added 0.3%, but shed 0.1% for the week. Kingswood Enterprise, Lingyuan Iron & Steel, Fujian Start Group, China Jushi, and Eastern Communications posted gains between 5.3% and 6.4%.
India's Sensex settled flat, losing 3.1% for the week. GAIL spiked 5.8% after regulators proposed a 60.0% tariff hike. Bajaj Auto, Adani Ports, Mahindra&Mahindra, Maruti Suzuki, Hero MotoCorp, and Larsen & Toubro advanced between 0.7% and 2.3%. Hindustan Unilever was the weakest performer, falling 2.4%.

Major European indices trade mixed with the UK's FTSE (+0.6%) showing relative strength. European Central Bank member Peter Praet said that economic recovery in the eurozone has yet to translate into higher inflation, but acknowledged that the ECB needs to take the economic improvement into account. EU leaders are outlining reform plans that will be presented in two weeks. Italy's Prime Minister Paolo Gentiloni said the reforms must focus on boosting economic growth. The Catalan independence referendum remains scheduled for Sunday despite stern opposition from the Spanish central government.

In economic data:
Eurozone September CPI +1.5% year-over-year (consensus 1.6%; last 1.5%) and core CPI +1.1% year-over-year (expected 1.2%; last 1.2%)
Germany's August Retail Sales -0.4% month-over-month (expected 0.5%; last -0.6%); +2.8% year-over-year (consensus 3.2%; last 2.8%). September Unemployment Change -23,000 (expected -5,000; last -6,000) and September Unemployment Rate 5.6% (expected 5.7%; last 5.7%)
UK's September Nationwide HPI +0.2% month-over-month (expected 0.1%; last -0.1%); +2.0% year-over-year (consensus 1.9%; last 2.1%). Q2 GDP +0.3% quarter-over-quarter, as expected (last 0.3%); +1.5% year-over-year (consensus 1.7%; last 1.7%). August Mortgage Lending GBP4.04 billion (expected GBP3.60 billion; last GBP3.58 billion). Q2 Current Account deficit GBP23.20 billion (expected deficit of GBP15.80 billion; last deficit of GBP22.30 billion)
France's August Consumer Spending -0.3% month-over-month (expected 0.3%; last 0.6%). August PPI +0.4% month-over-month (last 0.1%) and September CPI -0.1% month-over-month (expected 0.2%; last 0.5%)
Italy's September CPI -0.3% month-over-month (expected -0.1%: last 0.3%); +1.1% year-over-year (consensus 1.3%; last 1.2%). August PPI +0.4% month-over-month (last 0.0%); +1.5% year-over-year (last 1.0%)
Swiss September KOF Leading Indicators 105.8 (expected 105.5; last 104.2)

---Equity Markets---

UK's FTSE has climbed 0.6% amid gains in most components. Financials and consumer names are among the leaders with Provident Financial, Dixons Carphone, Persimmon, Kingfisher, Burberry, Aviva, Unilever, Old Mutual, Direct Line Insurance, Tesco, and Morrison Supermarkets rising between 0.6% and 4.2%.
Germany's DAX is up 0.4%. Adidas leads with a gain of 1.7% while heavyweights like Bayer, BASF, Allianz, BMW, Deutsche Bank, Siemens, and Commerzbank show gains between 0.3% and 1.2%. On the downside, Merck and Volkswagen are down 2.8% and 1.0%, respectively.
France's CAC has lost 0.1%. Vivendi, Carrefour, Essilor International, L'Oreal, Kering, and Danone show gains between 0.2% and 2.1%. Financials are mixed with Credit Agricole and BNP Paribas down 1.0% and 0.2%, respectively, while Societe Generale sports a gain of 0.5%.
Spain's IBEX trades down 0.3%. Banco Sabadell, Caixabank, Santander, and Bankinter show losses between 0.8% and 1.2%.

08:33AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: +7.60.

The S&P 500 futures trade two points, or 0.1%, below fair value.

Just in, personal income ticked up 0.2% in August (Briefing.com consensus +0.2%) after a revised reading of 0.3% for July (from 0.4%). Personal spending rose 0.1% (Briefing.com consensus +0.1%), while the prior month's reading was left unrevised at 0.3%. The core PCE Price Index, which excludes food and energy, increased 0.1% (Briefing.com consensus +0.2%).

Year-over-year, the core PCE Price Index is up 1.3%.

08:01AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: +8.60.

The equity market eked out a slim victory on Thursday, but looks poised to give it back at Friday's opening bell as investors cautiously await the core PCE Price Index for August, which will cross the wires at 8:30 ET. The S&P 500 futures currently trade two points, or 0.1%, below fair value. For the week, the S&P 500 is higher by 0.3%.

Investors are currently expecting one more rate hike in 2017 and today's release of the August core PCE Price Index (Briefing.com consensus +0.2%), which is the Fed's preferred measure of inflation, will either strengthen that belief or weaken it. Going into the release, the CME FedWatch Tool puts the chances of a December rate hike at 75.4%.

August Personal Income (Briefing.com consensus +0.2%) and Personal Spending (Briefing.com consensus +0.1%) will be released alongside the PCE Price Index at 8:30 ET, followed by the September Chicago PMI (Briefing.com consensus 58.0) at 9:45 ET and the final reading of the University of Michigan Consumer Sentiment Index for September (Briefing.com consensus 95.4) at 10:00 ET.

U.S. Treasuries are flat ahead of this morning's batch of economic data, with the benchmark 10-yr yield unchanged at 2.31%. Meanwhile, the U.S. Dollar Index is also flat, hovering at 92.90. For the week, the 10-yr yield has climbed five basis points while the U.S. Dollar Index has added 1.0%.

Going into today's session, which marks the end of the third quarter, the S&P 500 is sitting in record-high territory with a quarter-to-date gain of 3.6%.

In U.S. corporate news:

KB Home (KBH 22.75, +0.53): +2.4% after reporting better-than-expected earnings and revenues.
Tyson Foods (TSN 69.38, +3.93): +6.0% after increasing its earnings guidance for the fiscal year.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended the week on a mostly higher note, but trading ranges were fairly narrow, making for a quiet end of the quarter. Japan's Nikkei unch, Hong Kong's Hang Seng +0.5%, China's Shanghai Composite +0.3%, India's Sensex unch.
In economic data:
Japan's August Retail Sales +1.7% year-over-year (consensus 2.6%; last 1.8%), August Industrial Production +2.1% month-over-month (expected 1.9%; last -0.8%), and August Household Spending +0.2% month-over-month (expected -0.2%; last -1.9%); +0.6% year-over-year (consensus 1.0%; last -0.2%). August National CPI +0.7% year-over-year, as expected and September Tokyo CPI +0.5% year-over-year (expected 0.6%; last 0.5%). August Unemployment Rate held at 2.8%, as expected. August Housing Starts -2.0% year-over-year (consensus 0.9%; last -2.3%) and August Construction Orders -10.6% year-over-year (last 14.9%)
South Korea's October Manufacturing BSI Index 79 (last 84). August Industrial Production +0.4% month-over-month (last 1.7%); +2.7% year-over-year (last -0.2%). Retail Sales -1.0% month-over-month (last 0.1%)
Australia's August Housing Credit +0.5% (last 0.5%) and August Private Sector Credit +0.5% month-over-month, as expected (last 0.5%)
In news:
Markets in China and Hong Kong will be closed for a good portion of next week due to Golden Week celebrations.
Press reports from Hong Kong indicate China's Premier Li Keqiang will stay for another term.
South Korea's financial regulator all forms of initial coin offerings in South Korea.
Japan's Finance Minister Taro Aso said the primary balance target for fiscal year 2020 needs to be delayed 'a bit.'

Major European indices trade on a higher note. UK's FTSE +0.6%, Germany's DAX +0.4%, France's CAC +0.1%, Spain's IBEX -0.4%.
In economic data:
Eurozone September CPI +1.5% year-over-year (consensus 1.6%; last 1.5%) and core CPI +1.1% year-over-year (expected 1.2%; last 1.2%)
Germany's August Retail Sales -0.4% month-over-month (expected 0.5%; last -0.6%); +2.8% year-over-year (consensus 3.2%; last 2.8%). September Unemployment Change -23,000 (expected -5,000; last -6,000) and September Unemployment Rate 5.6% (expected 5.7%; last 5.7%)
UK's September Nationwide HPI +0.2% month-over-month (expected 0.1%; last -0.1%); +2.0% year-over-year (consensus 1.9%; last 2.1%). Q2 GDP +0.3% quarter-over-quarter, as expected (last 0.3%); +1.5% year-over-year (consensus 1.7%; last 1.7%). August Mortgage Lending GBP4.04 billion (expected GBP3.60 billion; last GBP3.58 billion). Q2 Current Account deficit GBP23.20 billion (expected deficit of GBP15.80 billion; last deficit of GBP22.30 billion)
France's August Consumer Spending -0.3% month-over-month (expected 0.3%; last 0.6%). August PPI +0.4% month-over-month (last 0.1%) and September CPI -0.1% month-over-month (expected 0.2%; last 0.5%)
Italy's September CPI -0.3% month-over-month (expected -0.1%: last 0.3%); +1.1% year-over-year (consensus 1.3%; last 1.2%). August PPI +0.4% month-over-month (last 0.0%); +1.5% year-over-year (last 1.0%)
Swiss September KOF Leading Indicators 105.8 (expected 105.5; last 104.2)
In news:
European Central Bank member Peter Praet said that economic recovery in the eurozone has yet to translate into higher inflation, but acknowledged that the ECB needs to take the economic improvement into account. EU leaders are outlining reform plans that will be presented in two weeks.
Italy's Prime Minister Paolo Gentiloni said the reforms must focus on boosting economic growth.
The Catalan independence referendum remains scheduled for Sunday despite stern opposition from the Spanish central government.

06:14AM ET

[BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: +5.30.
06:14AM ET

[BRIEFING.COM] Nikkei...20,356.28...-6.80...0.00

Hang Seng...27,554.30...+132.70...+0.50%

06:14AM ET

[BRIEFING.COM] FTSE...7,367.38...+44.60...+0.60%

DAX...12,741.48...+37.30...+0.30%

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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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