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)
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 @ $6,237.50 dollars or +124.75 points, Light Crude Oil CL ($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 @ $6,237.50 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=179&t=2789

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=347&t=3682 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 discussed by members of TheStrategyLab chat room or private thread discussions

The Market at 04:30PM ET
Dow: -458.92… | Nasdaq: -193.33… | S&P: -58.99…
NASDAQ Vol: 2.38 bln… Adv: 580… Dec: 2414…
NYSE Vol: 915.4 mln… Adv: 580… Dec: 2425…

Moving the Market

Top-weighted technology sector underperforms; lack of leadership weighs on sentiment

China follows through on tariff retaliation; implements duties against 128 U.S. imports

S&P 500 breaches its 200-day simple moving average (2590)

Amazon (AMZN) shows notable weakness, dropping to a seven-week low

President Trump threatens to withdraw from NAFTA if Mexico doesn't do more to curb illegal immigration and the flow of drugs to the U.S.

Sector Watch
Strong: Utilities, Telecom Services, Real Estate
Weak: Consumer Discretionary, Technology

04:30PM ET

[BRIEFING.COM] U.S. equities registered big losses on Monday, with declining issues outpacing advancing issues four to one at the New York Stock Exchange.

The S&P 500 dropped 58.99 points, or 2.2%, to 2581.88, falling to its lowest level since mid-November and closing below its 200-day simple moving average (2589.85) for the first time since June 2016. The Dow Jones Industrial Average tumbled 458.92 points, or 1.9%, to 23644.19, and the Nasdaq Composite slid 193.76 points, or 2.7%, to 6870.12, rejoining the other two major indices in negative territory for the year. A late rally brought the major averages up from their worst marks of the day -- the S&P 500 was down 3.3% at its session low.

Losses were both broad -- 11 of 11 S&P 500 sectors finished in the red -- and deep -- 8 of 11 groups lost at least 2.0%.

The consumer discretionary sector (-2.8%) was the weakest group, weighed down by a 5.2% decline in shares of Amazon (AMZN 1371.99, 75.35), which dropped after President Trump promised to intervene in the company's relationship with the U.S. Post Office, which he says is losing "a fortune" by delivering Amazon packages. The president's statement was in line with similar comments that he made last week. Meanwhile, the lightly-weighted utilities group (-0.8%) showed relative strength, closing at the top of the leaderboard.

There were a handful of headline catalysts behind Monday's mauling -- including renewed trade concerns following China's decision to follow through with tariffs on 128 products imported from the U.S. and political angst following President Trump's threat to withdraw from NAFTA if Mexico doesn't do more to secure the border -- but technical and psychological factors were also at play; the S&P 500 wiped out its 200-day simple moving average, which has been a key area of technical support, and the continued underperformance of the influential technology sector weighed on investor sentiment.

The technology space declined 2.5%, with Dow component Intel (INTC 48.92, -3.16) showing particular weakness. Intel shares dropped 6.1% in reaction to reports that Apple (AAPL 166.68, -1.10) is planning to use its own processors, instead of Intel chips, in Mac computers starting as early as 2020. Apple outperformed the broader market, losing 0.7%, while fellow mega caps Facebook (FB 155.39, -4.40), Alphabet (GOOG 1006.47, -25.32), and Microsoft (MSFT 88.52, -2.75) lost between 2.5% and 3.0%.

Despite the broad retreat, there were a few names that moved higher on Monday, including Humana (HUM 280.70, +11.87), which rallied 4.4% after a Wall Street Journal report that Walmart (WMT 85.55, -3.42) is in preliminary talks to acquire the health insurance company. Dow component UnitedHealth (UNH 217.20, +3.20) advanced 1.5% in sympathy, but the health care sector settled just a tick above the broader market, finishing with a loss of 2.1%.

Outside of equities, U.S. Treasuries ticked higher, pushing yields lower across the curve; the benchmark 10-yr yield declined one basis point to 2.73% -- its lowest level since early February. Meanwhile, West Texas Intermediate crude futures dropped 2.6% to $63.08 per barrel, gold futures advanced 1.6% to $1348.10/oz, and the CBOE Volatility Index (VIX) jumped 3.5 points, or 17.1%, to 23.37.

Markets were closed in Europe for Easter Monday, while the major stock indices in Asia opened the week on a modestly lower note.

Reviewing Monday's economic data, which was limited to the ISM Index for March and the Construction Spending report for February:

The ISM Index for March declined to 59.3 from an unrevised reading of 60.8 in February, while the Briefing.com consensus expected a reading of 60.0.
The key takeaway from the report is that the Prices Index hit its highest level (78.1) since April 2011, with price increases registered across 17 of 18 industry sectors.
Construction Spending ticked up 0.1% in February, while the Briefing.com consensus expected an increase of 0.5%. The prior month's reading was left at 0.0%.
The key takeaway from the report is that construction spending growth continues to run at a relatively slow pace, which is an inhibitor of stronger overall growth.

On Tuesday, March auto and truck sales will be released throughout the day.

Nasdaq Composite: -0.5% YTD
S&P 500: -3.4% YTD
Dow Jones Industrial Average: -4.4% YTD
Russell 2000: -2.8% YTD

Dow: -458.92… | Nasdaq: -193.33… | S&P: -58.99…
NASDAQ Adv/Dec 580/2414. …NYSE Adv/Dec 580/2425.

03:40PM ET
[BRIEFING.COM]

Commodities ending the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are -0.7% at 86.8328
The dollar index is -0.04% at 89.71
Energy:
Mar WTI crude oil futures settled -$1.70 at $63.08/barrel on the day
In other energy, Mar natural gas settled -$0.04 at $2.68/MMBtu
Metals:
Apr gold settled +$19.80 at $1347.00/oz, while Mar silver settled +$0.40 to $16.67/oz
Mar copper settled +$0.02 at $3.05/lb

Dow: -608.11… | Nasdaq: -233.31… | S&P: -73.89…
NASDAQ Adv/Dec 524/2466. …NYSE Adv/Dec 492/2473.

03:00PM ET

[BRIEFING.COM] The major averages enter the final hour of trading with losses between 2.6% and 3.2%.

11 of 11 S&P sectors are trading in the red -- including financials (-2.8%), consumer discretionary (-3.3%), industrials (-2.8%), energy (-3.0%), materials (-2.6%), technology (-2.9%), health care (-2.6%), consumer staples (-2.5%), utilities (-1.0%), telecom services (-1.7%), and real estate (-1.6%).

Only the technology sector still holds a gain for the year (+0.2%). The consumer discretionary sector is down 0.7% year to date, while the nine other spaces hold yearly losses between 4.1% (financials) and 10.2% (telecom services).
Dow: -615.50… | Nasdaq: -220.04… | S&P: -74.47…
NASDAQ Adv/Dec 544/733. …NYSE Adv/Dec 504/2451.

02:25PM ET

[BRIEFING.COM] Eyeing their lowest close since November, the S&P 500 and the Dow Jones Industrial Average continue to make lows in recent trade, declining between 2.7% and 3.0%, respectively.

Semiconductor chip stocks are weaker in recent trade following a Bloomberg report which suggests that Apple (AAPL 165.68, -2.10, -1.3%) may use its own chips for the Mac lineup starting in 2020 in lieu of Intel's (INTC 48.08, -4.00, -7.7%) chipsets.

Semi peers Taiwan Semi (TSM 42.60, -1.16, -2.7%), NVIDIA (NVDA 220.21, -11.38, -4.9%), Texas Instruments (TXN 100.29, -3.60, -3.5%), and Qualcomm (QCOM 53.37, -2.04, -3.7%) are weaker in sympathy on the report.

The PHLX Semiconductor Index (SOX 1273.38, -55.52, -4.2%) falls to lows of -4.4% in recent action.
Dow: -665.84… | Nasdaq: -230.24… | S&P: -80.49…
NASDAQ Adv/Dec 536/973. …NYSE Adv/Dec 500/2444.

02:00PM ET

[BRIEFING.COM] The Dow Jones Industrial Average challenges its 200 day simple moving average (23,422) in recent trade as the index sheds around 2.6% on the first trading day of April. Outpacing the Dow, the Nasdaq Composite dips 3.3% while the S&P 500 loses 2.8%.

As investors eye a rough start to April in the major averages, commodities fare slightly better as gold futures for June delivery recoup a portion of last week's losses, up about 1.4% at settle, to $1345.80/oz. The yellow metal, which is priced in dollars, sees strength partly due to a decline in the greenback -- the US Dollar Index loses about 0.1% today to 90.07 in recent trade.

Select gold names which trade higher today include Barrick Gold (ABX 12.79, +0.34, +2.7%), Goldcorp (GG 14.08, +0.26, +1.9%), and Randgold Resources (GOLD 85.10, +1.86, +2.2%); in a broader sense, the Vectors Gold Miners ETF (GDX 22.38, +0.40) continues Thursday advance, up another 1.8% today.
Dow: -662.93… | Nasdaq: -239.09… | S&P: -76.86…
NASDAQ Adv/Dec 541/1172. …NYSE Adv/Dec 508/2449.

01:35PM ET

[BRIEFING.COM] The major U.S. indices continue to trade solidly lower this afternoon, giving back all of last week's gains (and more).

A look inside the Dow Jones Industrial Average shows that Intel (INTC 49.65, -2.43), Cisco Systems (CSCO 41.13, -1.75), and Nike (NKE 63.85, -2.39) are underperforming amid broad market weakness.

Conversely, UnitedHealth (UNH 217.71, +3.71) is the best-performing Dow component, trading in sympathy with Humana (HUM 279.83, +11.00), which has rallied following a Wall Street Journal report that Walmart (WMT 85.51, -3.46) is in preliminary talks to acquire the company.

At current levels, the DJIA is down 4.7% year to date.
Dow: -572.08… | Nasdaq: -200.28… | S&P: -65.50…
NASDAQ Adv/Dec 590/1292. …NYSE Adv/Dec 570/2375.

01:00PM ET

[BRIEFING.COM] U.S. equities are down big this afternoon, pushing the S&P 500 about 10 points below its 200-day simple moving average (2590). The benchmark index is currently down 58 points, or 2.2%, at 2583, while the Dow is down 472 points, or 2.0%, at 23625, and the Nasdaq is lower by 169 points, or 2.4%, at 6895.

There are several factors fueling today's selling:

Renewed concerns about trade wars as China followed through with the imposition of tariffs on 128 products imported from the U.S.
Political angst as President Trump has threatened to withdraw from NAFTA if Mexico doesn't do more to curb illegal immigration and the flow of drugs to the U.S.
Weakness in shares of Amazon (AMZN 1387.93, -59.33, -4.1%) as President Trump sounds intent on trying to get Amazon to pay more taxes and to pay more for shipping its packages through the U.S. Post Office
Selling by weak-handed holders of long positions established during Thursday's rally effort

11 of 11 S&P sectors are trading in negative territory. The consumer discretionary space is at the bottom of the sector standings -- thanks in large part to Amazon -- with a loss of 2.9%, and the energy sector is also showing particular weakness, down 2.7%, amid a sharp decline in oil prices; WTI crude futures are down 2.6% at $63.26 per barrel.

Meanwhile, the lightly-weighted utilities space is trading at the top of the sector standings, but still holds a loss of 0.7%.

There are a few names that have managed to advance despite the broad weakness, including Humana (HUM 280.71, +11.88), which is up 4.4%. The company has rallied in reaction to a Wall Street Journal report that Walmart (WMT 85.63, -3.34) is in preliminary talks to acquire the health insurance company. Dow component UnitedHealth (UNH 217.90, +3.90) is higher in sympathy, up 1.9%.

Overseas, European markets are closed for Easter Monday, and Asian indices finished with modest losses.

Outside of equities, U.S. Treasuries are modestly lower today, pushing the benchmark 10-yr yield one basis point higher to 2.75%, while other safe-haven assets like gold and the Japanese yen have advanced; gold futures are up 1.2% at $1343/oz, while the Japanese yen is up 0.2% against the U.S. dollar at 106.03.

Reviewing Monday's economic data, which was limited to the ISM Index for March and the Construction Spending report for February:

The ISM Index for March declined to 59.3 from an unrevised reading of 60.8 in February, while the Briefing.com consensus expected a reading of 60.0.
The key takeaway from the report is that the Prices Index hit its highest level (78.1) since April 2011, with price increases registered across 17 of 18 industry sectors.
Construction Spending ticked up 0.1% in February, while the Briefing.com consensus expected an increase of 0.5%. The prior month's reading was left at 0.0%.
The key takeaway from the report is that construction spending growth continues to run at a relatively slow pace, which is an inhibitor of stronger overall growth.

Dow: -495.70… | Nasdaq: -164.61… | S&P: -58.12…
NASDAQ Adv/Dec 634/1388. …NYSE Adv/Dec 631/2288.

12:25PM ET

[BRIEFING.COM] The major U.S. indices are at session lows, holding losses between 2.3% and 2.8%.

Despite the broad retreat, shares of Humana (HUM 2381.31, +12.48) have advanced 4.6% following a Wall Street Journal report that Walmart (WMT 85.54, -3.43) is in preliminary talks to acquire the company. Dow component UnitedHealth (UNH 217.65, +3.65) has also bucked the bearish trend, jumping 1.7%.

Overseas, European markets are closed for Easter Monday, while the major Asian indices opened the week with modest losses.
Dow: -518.57… | Nasdaq: -185.79… | S&P: -62.07…
NASDAQ Adv/Dec 557/1555. …NYSE Adv/Dec 523/2386.

12:00PM ET

[BRIEFING.COM] The S&P 500 has dropped below its 200-day simple moving average in recent trading, extending its loss to 2.2%.

Mega caps Amazon (AMZN 1377.71, -69.62), Microsoft (MSFT 88.49, -2.78), Facebook (FB 155.18, -4.48), and Alphabet (GOOG 1000.59, -31.38) hold losses between 3.0% and 4.8%, chipmaking giants Intel (INTC 48.89, -2.20) and NVIDA (NVDA 222.63, -8.95) are down around 4.0% apiece, and Netflix (NFLX 280.63, -14.87) holds a loss of 5.0%.

The top-weighted technology sector, which houses nearly all of the aforementioned names, is down 2.5%, while the consumer discretionary sector, which houses Amazon, holds a loss of 2.8%. The two groups are the worst-performing S&P 500 sectors.
Dow: -452.66… | Nasdaq: -182.22… | S&P: -56.3…
NASDAQ Adv/Dec 596/1676. …NYSE Adv/Dec 590/2311.

11:35AM ET

[BRIEFING.COM] Stocks have continued tumbling this morning, with the S&P 500 extending its loss to 1.7%.

The benchmark index is approaching its 200-day simple moving average (2590), which has acted as a level of support in recent weeks. However, selling could accelerate if the index breaches the key technical level. The S&P 500 is currently trading at 2597.

In the bond market, U.S. Treasuries are higher this morning, pushing yields lower across the curve; the benchmark 10-yr yield is down one basis point at 2.75%.
Dow: -334.70… | Nasdaq: -158.39… | S&P: -46.63…
NASDAQ Adv/Dec 622/1831. …NYSE Adv/Dec 663/2236.

11:00AM ET

[BRIEFING.COM] The major averages are solidly lower this morning, showing losses between 1.1% and 2.1%.

10 of 11 S&P sectors are trading in the red, including financials (-1.4%), consumer discretionary (-1.9%), industrials (-1.3%), energy (-1.4%), materials (-1.3%), technology (-1.6%), health care (-0.9%), consumer staples (-1.0%), telecom services (-0.8%), and real estate (-0.8%). Utilities (+0.1%) is the lone advancer.

Shares of Amazon (AMZN 1381.10, -66.24) are down 4.6%, touching their lowest level in seven weeks, while shares of Tesla (TSLA 245.20, -20.82) are down 7.9%, hitting their lowest level in a year.
Dow: -246.87… | Nasdaq: -142.08… | S&P: -40.45…
NASDAQ Adv/Dec 652/1922. …NYSE Adv/Dec 713/2145.

10:35AM ET
[BRIEFING.COM]

Commodities are beginning the day lower
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently -0.2% at 87.2970
Dollar index is currently -0.2% at 89.56
Looking at energy...
Mar WTI crude oil futures are now -$1.02 at $63.92/barrel
In other energy, Mar natural gas is -$0.06 at $2.67/MMBtu
Moving on to metals...
Apr gold is currently $13.70 at $1341.00/oz, while Mar silver is +$0.33 at $16.60/oz
Mar copper is now +$0.04 at $3.06/lb

Dow: -191.49… | Nasdaq: -131.75… | S&P: -33.29…
NASDAQ Adv/Dec 654/2057. …NYSE Adv/Dec 830/1990.

10:05AM ET

[BRIEFING.COM] The S&P 500 has extended its opening loss to 0.7%.

Just in, the ISM Index for March declined to 59.3 from an unrevised reading of 60.8 in February, while the Briefing.com consensus expected a reading of 60.0.

Separately, Construction Spending ticked up 0.1% in February, while the Briefing.com consensus expected an increase of 0.5%. The prior month's reading was left at 0.0%.
Dow: -61.57… | Nasdaq: -92.52… | S&P: -21.50…
NASDAQ Adv/Dec 893/1822. …NYSE Adv/Dec 937/1836.

09:40AM ET

[BRIEFING.COM] The S&P 500 is down 0.2% in the opening minutes, while the Dow is flat and the Nasdaq is lower by 0.3%.

S&P sectors are pretty evenly split between green and red, with five advancing and six declining. The consumer discretionary group (-0.8%) is at the back of the pack, suffering from a 2.1% decline in shares of Amazon (AMZN 1416.75, -30.83), while the lightly-weighted utilities group (+0.2%) is the top performer.

As a reminder, both the ISM Index for March (Briefing.com consensus 60.0) and the Construction Spending report for February (Briefing.com consensus +0.5%) will be released at 10:00 AM ET. They are the only notable reports on today's economic calendar.
Dow: +3.50… | Nasdaq: -20.81… | S&P: -3.17…
NASDAQ Adv/Dec 1318/1373. …NYSE Adv/Dec 1236/1411.

09:12AM ET
[BRIEFING.COM] S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -44.80.

The equity market is on track for a lower open, as the S&P 500 futures are trading eight points, or 0.3%, below fair value.

Trade war fears have resurfaced this morning after China followed through on a promise to retaliate to U.S. tariffs on imports of Chinese steel and aluminum. Effective today, Beijing will impose duties against 128 U.S. imports, including pork and certain fruits. Penalties range from 15% to 25%.

In corporate news, Humana (HUM 284.56, +15.73) is up 5.6% in pre-market trading after a Wall Street Journal report that Walmart (WMT 88.01, -0.96) is in preliminary talks to acquire the company. Conversely, Under Armour (UAA 15.80, -0.55) is down 3.4% after a data breach involving the company's MyFitnessPal app.

U.S. Treasuries are under pressure this morning, pushing yields higher across the curve; the benchmark 10-yr yield is up one basis point at 2.77%.

Investors will receive two economic reports this morning -- the ISM Index for March (Briefing.com consensus 60.0) and the Construction Spending report for February (Briefing.com consensus +0.5%) -- both of which will be released at 10:00 AM ET.

08:58AM ET
[BRIEFING.COM] S&P futures vs fair value: -7.00. Nasdaq futures vs fair value: -45.50.

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

Equity indices in the Asia-Pacific region began the week on a mixed note, but overall volume was on the low side due to Easter-related closures in Australia, New Zealand, and Hong Kong. China imposed tariffs on 128 products imported from the United States while the country's Ministry of Commerce noted that trade disputes should be resolved through dialogue. On a separate note, China's President Xi Jinping said state-owned firms should reduce their leverage ratios as soon as possible. The Reserve Bank of Australia will meet overnight, but the cash rate is expected to remain unchanged at 1.50%.

In economic data:
China's March Caixin Manufacturing PMI 51.0 (expected 51.8; last 51.6)
Japan's March Manufacturing PMI 53.1 (expected 53.2; last 53.2). Q1 Tankan All Big Industry CAPEX +2.3% (expected 0.6%; last 7.4%) and Tankan All Small Industry Capex -16.8% (expected -21.0%; last -6.4%). Tankan Q1 Big Manufacturing Outlook Index 20 (expected 22; last 19) and Tankan Large Non-Manufacturers Index 23 (expected 24; last 23)
South Korea's March Nikkei Manufacturing PMI 49.1 (last 50.3)
Australia's MI Inflation Gauge +0.1% month-over-month (last -0.1%)

---Equity Markets---

Japan's Nikkei shed 0.3%. Olympus, Comsys Holdings, Mitsui Fudosan, Keisei Electric Railway, Keio, Tobu Railway, Takeda Pharmaceutical, Toho, and Okuma posted losses between 1.3% and 2.4%.
Hong Kong's Hang Seng was closed.
China's Shanghai Composite slipped 0.2%. Zhengzhou Yutong, SDIC Zhonglu Fruit Juice, Changhyuan Group, Shanxi Xinghuacun Fen Wine Factory, and Hongfa Technology surrendered between 3.1% and 4.7%.
India's Sensex rose 0.9% amid broad strength. Kotak Mahindra Bank, Adani Ports, Tata Motors, Wipro, Hero MotoCorp, Bajaj Auto, and Maruti Suzuki posted gains between 1.7% and 4.7%. On the downside, AXIS Bank fell 2.2% and ICICI Bank lost 5.9% amid a probe into a loan issued by a consortium that includes ICICI Bank.

Equity markets across Europe are closed for Easter Monday. Germany's Finance Minister Olaf Scholz is reportedly seeking a provision to cushion the impact of the debt burden in the event of a rapid increase in interest rates.

Investors did not receive any economic data of note

---Equity Markets---

Germany's DAX is closed
France's CAC is closed
UK's FTSE is closed

08:27AM ET
[BRIEFING.COM] S&P futures vs fair value: -10.80. Nasdaq futures vs fair value: -55.50.

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

Investors will receive just two pieces of economic data today -- the ISM Index for March (Briefing.com consensus 60.0) and Construction Spending for February (Briefing.com consensus +0.5%) -- both of which will be released at 10:00 AM ET. The Employment Situation Report for March, which will cross the wires on Friday, is the most notable item on this week's economic calendar.

The Briefing.com consensus expects that the Employment Situation Report will show the addition of 175,000 nonfarm payrolls, a 0.2% increase in average hourly earnings, and an unemployment rate of 4.0% -- down from 4.1% in February.

08:00AM ET
[BRIEFING.COM] S&P futures vs fair value: -11.80. Nasdaq futures vs fair value: -61.00.

Equities are on course for a lower open following the extended Easter weekend, as the S&P 500 futures are trading 12 points, or 0.4%, below fair value.

China has followed through on its promise to retaliate against the Trump administration's tariffs on imports of Chinese steel and aluminum, officially implementing duties on a list of 128 U.S. imports, effective today. The retaliation measure has reignited fears of a potential trade war between the world's two largest economies.

Investors will receive two economic reports this morning, the ISM Index for March (Briefing.com consensus 60.0) and the Construction Spending report for February (Briefing.com consensus +0.5%), both of which will be released at 10:00 AM ET.

Meanwhile, the U.S. Dollar Index is down 0.3% at 89.51, WTI crude futures are up 0.4% at $65.19/bbl, gold futures are up 0.7% at $1336.70/oz, and the CBOE Volatility Index (VIX) is up 1.43 points, or 7.2%, at 21.40. Treasuries are modestly higher, pushing yields a tick lower; the 10-yr yield is down one basis point at 2.75%.

In U.S. corporate news:

Humana (HUM 297.50, +28.67): +10.7% following a Wall Street Journal report that Walmart (WMT 88.44, -0.53) is in preliminary talks to acquire the company.
Under Armour (UAA 16.05, -0.30): -1.8% after a data breach involving the company's MyFitnessPal app.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mixed note, but overall volume was on the low side due to Easter-related closures in Australia, New Zealand, and Hong Kong. Japan's Nikkei -0.3%, China's Shanghai Composite -0.2%, India's Sensex +0.9%.
In economic data:
China's March Caixin Manufacturing PMI 51.0 (expected 51.8; last 51.6)
Japan's March Manufacturing PMI 53.1 (expected 53.2; last 53.2). Q1 Tankan All Big Industry CAPEX +2.3% (expected 0.6%; last 7.4%) and Tankan All Small Industry Capex -16.8% (expected -21.0%; last -6.4%). Tankan Q1 Big Manufacturing Outlook Index 20 (expected 22; last 19) and Tankan Large Non-Manufacturers Index 23 (expected 24; last 23)
South Korea's March Nikkei Manufacturing PMI 49.1 (last 50.3)
Australia's MI Inflation Gauge +0.1% month-over-month (last -0.1%)
In news:
China imposed tariffs on 128 products imported from the United States while the country's Ministry of Commerce noted that trade disputes should be resolved through dialogue.
On a separate note, China's President Xi Jinping said state-owned firms should reduce their leverage ratios as soon as possible.
The Reserve Bank of Australia will meet overnight, but the cash rate is expected to remain unchanged at 1.50%.

Equity markets across Europe are closed for Easter Monday.
In economic data:
Investors did not receive any economic data of note.
In news:
Germany's Finance Minister Olaf Scholz is reportedly seeking a provision to cushion the impact of the debt burden in the event of a rapid increase in interest rates.

07:31AM ET
[BRIEFING.COM] S&P futures vs fair value: -11.00. Nasdaq futures vs fair value: -58.50.

06:57AM ET
[BRIEFING.COM] S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -38.80.

06:57AM ET
[BRIEFING.COM] Nikkei...21388.58...-65.70...-0.30%. Hang Seng...Holiday.........

06:57AM ET
[BRIEFING.COM] FTSE...Holiday......... DAX...Holiday.........

04:30PM ET

[BRIEFING.COM] Technology shares rebounded on Thursday, leading a broad rally on Wall Street, as investors kicked off the extended Easter weekend on a positive note.

The tech-heavy Nasdaq Composite jumped 1.6% to 7063.44, the S&P 500 climbed 1.4% to 2640.87, and the Dow Jones Industrial Average advanced 1.1% to 24103.11. The three major indices finished Thursday with weekly gains between 1.0% and 2.4%, but finished March with monthly losses between 2.7% and 3.7%.

Technology giants Microsoft (MSFT 91.27, +1.88), Facebook (FB 159.79, +6.76), and Alphabet (GOOG 1031.79, +27.23) added between 2.1% and 4.4% on Thursday, while other notable tech names like Intel (INTC 52.08, +2.48), Netflix (NFLX 295.35, +9.58), and NVIDIA (NVDA 231.59, +10.24) advanced between 3.4% and 5.0%. Apple (AAPL 167.78, +1.30) also finished in the green, adding 0.8%, but a late bout of selling pulled the company, and the broader market, from its session high.

Needless to say, the S&P's most influential sector -- information technology -- finished at the top of the sector standings, adding 2.2%. Thursday's positive performance for the tech sector was preceded by disappointing outings on Tuesday and Wednesday, during which the group declined by a total of 4.3%. The sector had a poor month, losing 4.0%, but still remains at the top of the 2018 sector standings with a year-to-date gain of 3.2%; for comparison, the S&P 500 is down 1.2% for the year.

As for the 10 remaining sectors, nine finished Thursday in positive territory, with energy (+2.2%) and materials (+1.9%) showing particular strength. The telecom services (unch) and real estate (-0.1%) sectors were the worst performers, but they didn't have much of an impact; the two groups represent just 5.0% of the broader market combined. The heavily-weighted financial group finished a step behind the benchmark index, adding 1.3%, as yields declined across the curve; the benchmark 10-yr yield dropped four basis points to 2.74%.

In the consumer discretionary sector (+1.4%), Amazon (AMZN 1447.34, +15.92) fell as much as 4.6% before rebounding to finish with a gain of 1.1%. The early weakness was attributed to a tweet from President Trump, in which he reiterated his concerns about the company, condemning it for paying "little to no taxes to state and local government" and using the U.S. Postal System as its "delivery boy." The tweet followed a Wednesday report from Axios that said Mr. Trump is looking for ways to regulate the internet giant.

Overseas, the major stock indices in Asia finished Thursday on a higher note, with Japan's Nikkei adding 0.6%, and the major bourses in Europe also advanced, adding between 0.2% and 1.3% apiece. Russia announced that it will expel 60 U.S. diplomats and order the closure of the U.S. Consulate in St. Petersburg in retaliation to similar measures taken by the U.S. and other countries following the poising of a former Russian double agent in England.

Markets in the U.S. and Europe will be closed tomorrow for Good Friday.

Reviewing Thursday's big batch of economic data, which included February Personal Income, Personal Spending, PCE Prices, and core PCE Prices, the weekly Initial Claims report, the Chicago PMI for March, and the final reading of the University of Michigan Consumer Sentiment Index for March:

Personal income climbed 0.4% in February (Briefing.com consensus +0.4%) following an unrevised increase of 0.4% in January. Meanwhile, personal spending rose 0.2% in February (Briefing.com consensus +0.2%) following an unrevised increase of 0.2% in January. The PCE Price Index increased 0.2% in February (Briefing.com consensus +0.2%), and the core PCE Price Index, which excludes food and energy, also increased 0.2% (Briefing.com consensus +0.2%). Year-over-year, the core PCE Price Index is up 1.6% after hovering at +1.5% in the last three readings.
The key takeaway from the report is that it won't influence Fed officials to significantly alter the course of monetary policy.
The latest weekly initial jobless claims count totaled 215,000, while the Briefing.com consensus expected a reading of 230,000. Today's tally was below the revised prior week count of 227,000 (from 229,000). As for continuing claims, they rose to 1.871 million from a revised count of 1.836 million (from 1.828 million).
The key takeaway from this report is that outside of some week-to-week volatility, initial and continuing claims remain at historically-low levels.
The Chicago PMI for March hit 57.4 (Briefing.com consensus 62.0), down from 61.9 in February.
The key takeaway from the report is that it echoed inflationary concerns that were expressed in the February report. Supplier delivery times reportedly increased and are considered to be 'long' by recent standards.
The final reading of the University of Michigan Consumer Sentiment Index for March dropped to 101.4 (Briefing.com consensus 102.0) from 102.0 in the preliminary reading.
The key takeaway from the report is that even after the pullback in the final reading for March, the Sentiment Index remains at its highest level since April 2004.

Investors will receive just two pieces of data on Monday -- the ISM Index for March (Briefing.com consensus 60.0) and the Construction Spending report for February (Briefing.com consensus +0.5%). Both reports will be released at 10:00 AM ET.

Nasdaq Composite: +2.3% YTD
S&P 500: -1.2% YTD
Dow Jones Industrial Average: -2.3% YTD
Russell 2000: -0.4% YTD

Week In Review: Rebound

Equities rebounded this week, ending a two-week skid; the Nasdaq Composite climbed 1.0%, the S&P 500 jumped 2.0%, and the Dow Jones Industrial Average rallied 2.4%. Trading was volatile at times, but smoothed out on Thursday as investors wrapped up the abbreviated week on a positive note. Markets will be closed on March 30 for Good Friday.

Investors kicked off the week with a rally on Monday, pushing the major indices up between 2.7% and 3.3% apiece, following a Wall Street Journal report that the U.S. and China have started negotiating to improve American access to Chinese markets. The news helped ease fears of a trade war, which were elevated after the White House announced tariffs on Chinese imports last week -- prompting Beijing to retaliate with tariffs of its own. Microsoft (MSFT) was particularly strong on Monday, spiking around 7.5%, after Morgan Stanley raised its target price from $110 to $130 -- a new Street high.

The market reversed course on Tuesday, however, with FAANG names -- Facebook (FB), Amazon (AMZN), Apple (AAPL), Netflix (NFLX), and Alphabet (GOOGL) -- leading the retreat. Market darling NVIDIA (NVDA) tumbled nearly 8.0% after announcing that it has temporarily suspended autonomous driving tests in order to learn more about last week's fatal collision involving a self-driving Uber car. Tesla (TSLA), which is a leader in autonomous driving technology, also dropped around 8.0%.

Stocks struggled for direction on Wednesday, but then rallied on Thursday ahead of the extended Easter weekend. However, unlike many of its FAANG peers, Amazon (AMZN) continued tumbling after an Axios report on Wednesday that President Trump would like to change Amazon's tax treatment, as he believes the company has gotten a free ride from taxpayers. The White House initially responded by saying there aren't any policy changes regarding Amazon at the moment, but the president reiterated his concerns about the company in a tweet on Thursday. AMZN shares lost 3.2% this week in total.

11 of 11 S&P 500 sectors finished the week with gains. Less-risky countercyclical groups like consumer staples (+3.5%), utilities (+3.0%), and telecom services (+3.1%) were the top performers, while the heavily-weighted financial sector (+2.7%) also showed relative strength. The top-weighted technology space lagged with a gain of 1.7%, while the consumer discretionary sector was among the worst performers, thanks largely to Amazon, adding 1.1%.

Investors received the Personal Income and Spending report for February on Thursday, and, for the second month in a row, it was in line with expectations. The PCE Price Index increased 1.8% year-over-year after being up 1.7% year-over-year in January, while the core PCE Price Index rose 1.6% year-over-year after three consecutive months of 1.5% year-over-year growth. The key takeaway from the report is that it won't influence Fed officials to significantly alter the course of monetary policy.

In the bond market, the yield curve flattened notably this week, with the 2s10s spread dropping seven basis points to 48 bps -- its lowest level since 2007. The yield on the benchmark 10-yr note declined seven basis points to 2.74%, while the 2-yr yield held steady at 2.26%. Most of the bond buying took place amid the equity sell off on Tuesday.
Dow: +254.69… | Nasdaq: +114.22… | S&P: +35.87…
NASDAQ Adv/Dec 2047/916. …NYSE Adv/Dec 2312/647.

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

The Strategy Lab: Valforex - The Manipulative Review Scam @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=84&t=3676

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

Advance WRB Analysis Tutorial Chapters 4 - 12 @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm

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Best Regards,
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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