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)


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

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=2794

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=350&t=3706 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

The Market at 04:30PM ET
Dow: +46.34… | Nasdaq: +35.23… | S&P: +8.69…
NASDAQ Vol: 2.1 bln… Adv: 1518… Dec: 1341…
NYSE Vol: 799.0 mln… Adv: 1409… Dec: 1515…

Moving the Market

Equities rebound after buyers defend S&P 500's 200-day moving average on Friday

Some White House officials soften their trade war rhetoric in weekend interviews

Investors sell into the close ahead of speech from China's President Xi Jinping and President Trump's response to a chemical attack in Syria

Sector Watch
Strong: Technology, Health Care
Weak: Consumer Discretionary, Industrials, Consumer Staples, Telecom Services, Real Estate

04:30PM ET

[BRIEFING.COM] Stocks rallied through the first half of Monday's session, reclaiming the bulk of Friday's dive, but nearly gave back all of their gains in the afternoon. The S&P 500 finished with a gain of 0.3%, while the Nasdaq Composite and the Dow Jones Industrial Average advanced 0.5% and 0.2%, respectively. The small-cap Russell 2000 added 0.1%.

A de-escalation of trade war fears was the widely-cited catalyst behind a strong start to Monday's session after weekend interviews from several Trump administration officials gave investors the impression that the White House might be trying to dial back its fiery rhetoric against China. Treasury Secretary Steven Mnuchin, for example, reiterated a comment he made on Friday, saying that the U.S. could enter a trade war with China, but then added that he "[doesn't] expect it at all."

The defense of the S&P 500's 200-day moving average (2594) on Friday also helped fuel a bullish tone at the opening bell. Stocks climbed steadily into the afternoon -- with the S&P 500 adding as much as 1.9% -- but sentiment began to turn in the final two hours as investors looked ahead to comments from China's President Xi Jinping, who will be speaking at the Boao Forum on Tuesday.

The possibility that Mr. Xi could take a forceful stance on trade with the U.S. prompted investors to take some money off the table ahead of the close -- especially considering that the market has been responding to headlines in a knee-jerk fashion as of late. In addition, uncertainty regarding President Trump's response to a chemical weapons attack in Syria that killed dozens of people over the weekend also fueled some late selling, as did a New York Times report that the FBI raided the office of Mr. Trump's longtime personal lawyer Michael Cohen.

In the end, the sector standings were pretty evenly mixed with six groups advancing and five finishing in the red. The health care sector (+0.9%) was the top performer, helped by Dow component Merck (MRK 56.16, +2.80), which rallied 6.2% after announcing that its lung cancer treatment Keytruda helped previously untreated patients live longer in a late-stage trial. The top-weighted technology sector also outperformed (+0.8%), but finished a ways off its session high; the tech space was up 2.9% at its best mark of the day.

On the flip side, the lightly-weighted telecom services sector finished at the bottom of the sector standings with a loss of 1.2%. The consumer discretionary (-0.3%) and industrials (-0.3%) sectors were the second-worst performing groups, while no other space lost more than 0.2%.

Investors didn't receive any economic reports on Monday, but will receive several pieces of data on Tuesday; both the Producer Price Index (Briefing.com consensus +0.2%) and the core Producer Price Index (Briefing.com consensus +0.2%) for March will be released at 8:30 AM ET, followed by the release of Wholesale Inventories for February (Briefing.com consensus +1.1%) at 10:00 AM ET.

Nasdaq Composite: +0.7% YTD
Russell 2000: -1.4% YTD
S&P 500: -2.3% YTD
Dow Jones Industrial Average: -3.0% YTD

Dow: +46.34… | Nasdaq: +35.23… | S&P: +8.69…
NASDAQ Adv/Dec 1518/1341. …NYSE Adv/Dec 1409/1515.

03:35PM ET
[BRIEFING.COM]

Commodities ending the day higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are +1.2% at 88.0136
The dollar index is -0.4% at 89.78
Energy:
May WTI crude oil futures settled +$1.37 at $63.43/barrel on the day
In other energy, May natural gas settled -0.01 at $2.69/MMBtu
Metals:
June gold settled +$3.90 at $1339.80/oz, while May silver settled +$0.16 to $16.52/oz
May copper settled +$0.02 at $3.08/lb

Dow: +209.57… | Nasdaq: +68.01… | S&P: +23.56…
NASDAQ Adv/Dec 1787/1116. …NYSE Adv/Dec 1737/1178.

02:55PM ET

[BRIEFING.COM] The major averages are trading a step below their session highs moving into the final hour of action. The S&P 500 is up 1.5%, while the Dow Jones Industrial Average and the Nasdaq Composite show gains of 1.4% and 1.7%, respectively.

10 sectors are trading in the green this afternoon, including financials (+1.8%), consumer discretionary (+0.7%), industrials (+0.7%), energy (+1.2%), materials (+1.3%), technology (+2.0%), health care (+1.8%), consumer staples (+0.6%), utilities (+0.7%), and real estate (+0.5%), while one -- telecom services (-0.3%) -- is lower.

The materials sector has bounced back from early weakness thanks largely to chemical giant Monsanto (MON 125.66, +7.79), which has spiked 6.6% following a Wall Street Journal report that the Department of Justice could approve the company's pending acquisition by Bayer, subject to concessions.
Dow: +325.79… | Nasdaq: +113.08… | S&P: +37.10…
NASDAQ Adv/Dec 1196/962. …NYSE Adv/Dec 1975/929.

02:30PM ET

[BRIEFING.COM] The major averages are little changed since the last update, still holding gains better than 1.6% across the board.

A few pieces of economic data are on tap this week with perhaps the most important being tomorrow's speech at the Boao Forum from China's leader, Xi Jinping. This will be the first time Xi Jinping will have the chance to publicly speak to the ongoing trade rhetoric between the U.S. and China.

Also this week, tomorrow's release of March PPI and March Core PPI readings are slated for a 8:30 a.m. ET reveal with the CPI and Core CPI readings for March scheduled for a Wednesday release at the same time. Last month, February PPI readings were mostly in-line with expectations while the February CPI mark of 0.2% was slightly ahead of the 0.1% expectation according to the Briefing.com Consensus.
Dow: +385.39… | Nasdaq: +120.25… | S&P: +42.25…
NASDAQ Adv/Dec 1305/911. …NYSE Adv/Dec 1949/934.

02:00PM ET

[BRIEFING.COM] The broader market continues its recovery from Friday's rout. All major averages continue to make intraday highs with the tech-heavy Nasdaq Composite, +2.1%, showing the best gains at this juncture.

The heavily-weighted technology space reaps the benefits from solid sessions at the top. Tech bellwethers Microsoft (MSFT 92.76, +2.53, +2.8%), Alibaba (BABA 171.68, +4.16, +2.5%), Oracle (ORCL 45.56, +0.73, +1.6%), and Cisco Systems (CSCO 42.00, +1.27, +3.1%) display relative strength into the afternoon. Specific areas like semis (+3.2%), comms equipment (+2.8%), and storage (+2.6%) all grab healthy gains.

Specifically, in the semi space (PHLX Semiconductor Index 176.58, +5.04, +2.9%) action outperforms the broader market as components Intel (INTC 50.69, +1.90), Taiwan Semi (TSM 43.74, +1.32), NVIDIA (NVDA 220.45, +6.20), Texas Instruments (TXN 102.21, +2.75), and Broadcom (AVGO 238.99, +10.12) grab gains better than 2.8%. The space has enjoyed gains alongside a strong tech, and taking a step back, broader market today but also sees increased buying following a sell side research note out of Evercore ISI after the firm suggested China concerns may be growing, but the semi space isn't likely to be directly impacted near term.
Dow: +396.86… | Nasdaq: +150.60… | S&P: +42.81…
NASDAQ Adv/Dec 1448/834. …NYSE Adv/Dec 2117/767.

01:30PM ET

[BRIEFING.COM] The major U.S. indices remain broadly higher, with stocks mostly near their best levels of the day at this time.

A look inside the Dow Jones Industrial Average shows that Merck & Co (MRK 56.99, +3.63), Intel (INTC 50.61, +1.82), & JP Morgan (JPM 112.57, +3.48) are outperforming. Merck is leading the Dow after announcing that the pivotal Phase 3 KEYNOTE-042 trial evaluating KEYTRUDA as monotherapy for the first-line treatment of locally advanced or metastatic non-small cell lung cancer met its primary endpoint of overall survival.

Conversely, General Electric (GE 13.02, -0.04) is the worst-performing, and lone Dow component in the red as sentiment remains negative for the beleaguered industrial giant.

Starting off the week on a high note, the DJIA is now up 0.85% this month.
Dow: +393.53… | Nasdaq: +144.73… | S&P: +44.72…
NASDAQ Adv/Dec 1486/854. …NYSE Adv/Dec 2074/787.

12:55PM ET

[BRIEFING.COM] The equity market has rebounded today, recovering the bulk of the losses it registered on Friday. Tech shares show particular strength, putting the Nasdaq Composite (+2.1%) a step ahead of the S&P 500 (+1.6%) and the Dow Jones Industrial Average (+1.4%). The major averages opened in the green and have been climbing steadily ever since.

The reported fundamental catalyst behind today's rally is the notion that the White House has softened its rhetoric regarding a trade spat with China. Appearing in an interview on Sunday, Treasury Secretary Steven Mnuchin walked back a comment he made on Friday, saying the U.S. could enter a trade war with China, but he "[doesn't] expect it at all."

However, technical factors have also been at play today following the defense of the S&P 500's 200-day moving average (2594) on Friday. That has fostered some buy-the-dip interest centered on several of the market's most beaten-down areas during the latest down leg; namely, mega-cap tech stocks, semiconductor issues, biotech issues, and financial shares.

The information technology sector, which had been down 9.5% over the last month, is up 2.5% today, helped by Alphabet (GOOG 1034.91, +27.87, +2.7%), Facebook (FB 159.82, +2.63, +1.7%), and Apple (AAPL 172.41, +4.04, +2.4%) to name a few
The Philadelphia Semiconductor Index, which had been down 11.9% over the last month, is up 3.1% today
The iShares Nasdaq Biotechnology ETF (IBB 104.29, +3.26), which had been down 9.1% over the last month, is up 3.2% today
The financial sector, which had been down 8.5% over the last month, is up 1.7% today.

Dow component Merck (MRK 57.10, +3.75) has also been an outperformer today, rallying 7.0%, after announcing that its lung cancer treatment Keytruda helped previously untreated patients live longer in a late-stage trial. The S&P 500's health care sector is up 1.9%.

In total, 10 of 11 S&P 500 sectors are higher this afternoon, with the lightly-weighted telecom services space (-0.1%) being the lone decliner. Growth-sensitive sectors are outpacing the defense-oriented groups in general, but outside of telecom services, all groups are up at least 0.5%.

Elsewhere, U.S. Treasuries are lower today, pushing yields higher across the curve; the benchmark 10-yr yield is up two basis points at 2.80%, while the 2-yr yield is up four basis points at 2.30%. Meanwhile, WTI crude futures are up 2.1% at $63.33 per barrel, and the U.S. Dollar Index is down 0.3% at 89.53.

Investors didn't receive any notable economic data today.
Dow: +370.77… | Nasdaq: +144.28… | S&P: +42.15…
NASDAQ Adv/Dec 1570/856. …NYSE Adv/Dec 2001/861.

12:25PM ET

[BRIEFING.COM] The major U.S. indices are hovering at session highs, up between 1.4% and 2.2%.

Speaking to reporters, President Trump recently said that he will make a "major decision" in the next 24 to 48 hours regarding a chemical weapons attack in Syria that killed dozens of people over the weekend. The president added that his meeting with North Korea may occur in late May or early June, and that it's possible a trade deal will be reached with China.

Meanwhile, in Europe, the major indices kicked off the week on a modestly higher note, adding around 0.2% apiece.
Dow: +335.82… | Nasdaq: +145.39… | S&P: +40.16…
NASDAQ Adv/Dec 1644/839. …NYSE Adv/Dec 1995/831.

12:00PM ET

[BRIEFING.COM] Equities have continued drifting to new highs; the S&P 500 is now up 1.5%, the Dow is up 1.4%, and the Nasdaq is higher by 1.9%.

Pharmaceutical giant Merck (MRK 56.12, +2.76) is among the strongest components in the S&P 500 today, up 5.2%, after announcing that its lung cancer treatment Keytruda helped previously untreated patients live longer in a late-stage trial. The S&P 500's health care sector is up 1.8%.

However, outside of health care, defensive-oriented sectors are lagging today. The consumer staples (+0.5%) and utilities (+0.3%) sectors are higher, but trade a ways behind the broader market, while the lightly-weighted telecom services sector shows a loss of 0.3%.
Dow: +310.83… | Nasdaq: +134.47… | S&P: +37.37…
NASDAQ Adv/Dec 1753/831. …NYSE Adv/Dec 1958/842.

11:25AM ET

[BRIEFING.COM] The major U.S. stock indices have continued ticking higher this morning, pushing their gains to 1.3%-1.8%.

Financials are trading a step ahead of the broader market, as Treasury yields move higher across the curve; the 2-yr yield is up three basis points at 2.29%, while the benchmark 10-yr yield is up two basis points at 2.80%. Higher yields typically correspond with higher profits for lenders. Influential financial names like JPMorgan Chase (JPM 111.46, +2.37), Bank of America (BAC 30.23, +0.60), and Citigroup (C 70.22, +1.62) currently hold gains of more than 2.0% apiece.

In currencies, the U.S. Dollar Index, which measures the greenback's value relative to a basket of foreign currencies, is down 0.2% at 89.60. The dollar has dropped 0.3% against the euro to 1.2316, but is up 0.1% against the Japanese yen at 107.08.
Dow: +295.30… | Nasdaq: +120.46… | S&P: +33.80…
NASDAQ Adv/Dec 1877/804. …NYSE Adv/Dec 1989/810.

11:00AM ET

[BRIEFING.COM] Stocks have been ticking higher since the start of today's session, adding to their opening gains. The S&P 500 is currently up 1.1% after opening with a gain of around 0.7%, while the tech-heavy Nasdaq is higher by 1.6%, up from +0.9% at the open.

Nine S&P sectors are trading in the green, including financials (+1.4%), consumer discretionary (+1.0%), industrials (+0.9%), energy (+1.2%), materials (+0.6%), technology (+2.1%), health care (+1.1%), consumer staples (+0.1%), and real estate (+0.3%), while utilities (-0.1%) and telecom services (-0.6%) are trading in the red.

Today's advance has put the S&P 500 about 40 points above its 200-day moving average (2595), which it crossed in intraday trade on Friday before bouncing back.
Dow: +261.70… | Nasdaq: +109.32… | S&P: +28.98…
NASDAQ Adv/Dec 1838/844. …NYSE Adv/Dec 1855/920.

10:35AM ET
[BRIEFING.COM]

Commodities are beginning the day higher
Overall, commodities, as measured by the Bloomberg Commodity Index, are currently +0.9% at 87.7329
Dollar index is currently -0.3% at 89.54
Looking at energy...
May WTI crude oil futures are now +$1.38 at $63.44/barrel
In other energy, May natural gas is -$0.043 at $2.658/MMBtu
Moving on to metals...
June gold is currently unchanged at $1336.10/oz, while May silver is +$0.04 at $16.40/oz
May copper is now +$0.006 at $3.065/lb

Dow: +287.23… | Nasdaq: +104.96… | S&P: 28.78…
NASDAQ Adv/Dec 1838/810. …NYSE Adv/Dec 1817/913.

10:00AM ET

[BRIEFING.COM] The S&P 500 has extended its opening gain in recent trading and is now higher by 0.8%.

Just about all of the components in the S&P 500's information technology sector (+1.6%) are higher this morning, with mega caps like Apple (AAPL 171.15, +2.75), Microsoft (MSFT 91.69, +1.46), and Alphabet (GOOG 1030.15, +23.11) showing gains between 1.6% and 2.3%. Facebook (FB 157.17, -0.05) is flat, however, as its CEO Mark Zuckerberg prepares to testify in Congress later this week regarding the company's recent data scandal.

At the opposite end of the sector standings, the lightly-weighted telecom services sector is down 1.2%, but no other group is down more than 0.2%.
Dow: +200.03… | Nasdaq: +84.94… | S&P: +19.92…
NASDAQ Adv/Dec 1869/825. …NYSE Adv/Dec 1715/940.

09:40AM ET

[BRIEFING.COM] The major averages are higher in the opening minutes of today's session, sporting gains between 0.4% and 0.7%.

Most S&P 500 sectors are trading in the green. The top-weighted technology group is the strongest sector, up 1.0%, and financials (+0.6%) is also showing relative strength. The lightly-weighted telecom services space is at the back of the pack with a loss of 1.3%, but no other group holds a loss of more than 0.2%.

Meanwhile, the yield on the benchmark 10-yr Treasury note is up two basis points at 2.80%.
Dow: +10.73… | Nasdaq: +45.95… | S&P: +138.75…
NASDAQ Adv/Dec 1761/883. …NYSE Adv/Dec 1608/977.

09:17AM ET
[BRIEFING.COM] S&P futures vs fair value: +13.30. Nasdaq futures vs fair value: +49.30.

The stock market is on course for a higher open, as the S&P 500 futures are trading 13 points, or 0.5%, above fair value.

Fears of a trade war have been dialed back this morning after some White House officials discussed trade issues with China on news programs over the weekend. In short, some officials appeared to soften their stance a bit, but others left the possibility of a trade war on the table; the market is choosing to focus on the former this morning.

In terms of corporate news, there's not much going on this morning, but it's worth noting that biotechnology firm AveXis (AVXS 209.48, +93.57) is up 80.7% in pre-market trading after agreeing to be acquired by Novartis (NVS 80.84, +0.64) for $218 per share in cash -- which represents a premium of 88.1% to Friday's closing price.

Elsewhere, U.S. Treasuries are a tick lower in early action, pushing yields higher across the curve; the benchmark 10-yr yield is up one basis point at 2.79%. Meanwhile, WTI crude futures are up 1.1% at $62.74 per barrel, rebounding from a three-week low, and the U.S. Dollar Index is down 0.2% at 89.62.

Investors will not receive any notable economic data today.

08:54AM ET
[BRIEFING.COM] S&P futures vs fair value: +16.00. Nasdaq futures vs fair value: +56.00.

The S&P 500 futures are trading 16 points, or 0.6%, above fair value.

Equity indices in the Asia-Pacific region began the week on a mostly higher note. The Boao Forum is taking place until Wednesday, and there are hopes that China's President Xi Jinping will talk about trade tomorrow. Bank of Japan Governor Haruhiko Kuroda began his new term, reiterating the BoJ's intention to reach the elusive 2.0% inflation target. Data released by the Bank of Korea showed that the real interest rates fell into negative territory last year, as inflation of 1.90% exceeded the average annual interest rate for savings accounts (1.56%).

In economic data:
China's FX Reserves $3.14 trillion, as expected (last $3.13 trillion)
Japan's February adjusted Current Account surplus JPY1.02 trillion (expected surplus of JPY1.39 trillion; last surplus of JPY2.02 trillion). March Household Confidence 44.3 (expected 44.6; last 44.3). March Economy Watchers Current Index 48.9 (expected 48.1; last 48.6)

---Equity Markets---

Japan's Nikkei climbed 0.5%. Yamaha, Ricoh, Familymart, TOTO, Kikkoman, Trend Micro, Terumo, and Isuzu Motors posted gains between 1.2% and 3.5%.
Hong Kong's Hang Seng jumped 1.3% amid broad strength. Sunny Optical Tech surged 5.9% while Geely Automobile spiked 5.2%. Financials like Citic Pacific, Bank of East Asia, HSBC, Ping An Insurance, China Life Insurance, and Hang Seng Bank rallied between 1.1% and 3.4%.
China's Shanghai Composite added 0.2%. CSSC Science & Technology, Shenzhen Kingdom Sci-Tech, Inner Mongolia North Hauler, China Northern Rare Earth, and Shanghai Chinafortune gained between 5.7% and 6.0%.
India's Sensex gained 0.5%. AXIS Bank spiked 3.4% while IndusInd Bank, HDFC Bank, Yes Bank, and SBI rose between 0.3% and 1.9%. Tech consultants were mixed as Wipro added 0.2% while Tata Consultancy and Infosys lost 1.0% and 1.6%, respectively.

Major European indices are hovering near their flat lines with Germany's DAX (+0.2%) showing relative strength. Deutsche Bank has contributed to the outperformance after Christian Sewing was named new Chief Executive Officer, effective immediately. Coalition talks are set to continue in Italy this week, but center right parties have indicated they intend to stay united, meaning there is a low likelihood of a government composed of Movimento Cinque Stelle and Lega.

In economic data:
Eurozone April Sentix Investor Confidence 19.6 (expected 21.2; last 24.0)
UK's March Halifax House Price Index +1.5% month-over-month (expected 0.1%; last 0.5%); +2.7% year-over-year (expected 2.1%; last 1.8%)
Germany's February trade surplus EUR19.20 billion (expected surplus of EUR23.10 billion; last surplus of EUR21.50 billion). February Imports -1.3% month-over-month (expected 0.3%; last -0.2%) and February Exports -3.2% month-over-month (expected 0.2%; last -0.4%)
Swiss March Unemployment Rate held at 2.9%, as expected

---Equity Markets---

UK's FTSE is lower by 0.3% with miners and select financials among the laggards. Glencore, Anglo American, Fresnillo, Antofagasta, Old Mutual, RSA Insurance, and Barclays are down between 0.6% and 3.5%. On the upside, ITV, Associated British Foods, Kingfisher, InterContinental Hotels, and Morrison Supermarkets hold gains between 0.4% and 1.6%.
France's CAC is flat. Orange leads, rising 1.0%, while BNP Paribas, Accor, STMicroelectronics, and L'Oreal sport gains between 0.1% and 0.8%. Renault is the weakest performer, falling 2.4%.
Germany's DAX trades up 0.2%. Deutsche Bank has spiked 2.5% while Commerzbank, SAP, Lufthansa, Siemens, and Allianz show gains between 0.4% and 1.1%. On the downside, automakers Daimler, BMW, and Volkswagen show losses between 0.5% and 0.9%.

08:30AM ET
[BRIEFING.COM] S&P futures vs fair value: +13.30. Nasdaq futures vs fair value: +54.30.

The S&P 500 futures are currently trading 13 points, or 0.5%, above fair value.

Traders will be keeping an eye on the S&P 500's 200-day moving average (2594), which has provided support to the benchmark index in recent weeks. The S&P 500 dropped below the key technical level in intraday trade on Friday, but eventually finished the session about 10 points above the mark at 2604.

07:57AM ET
[BRIEFING.COM] S&P futures vs fair value: +16.00. Nasdaq futures vs fair value: +53.30.

Equities look ready to rebound this morning following a big drop on Friday that left the major averages with losses of around 2.0% apiece. The S&P 500 futures are up 14 points (or 0.6%), the Nasdaq futures are up 43 points (or 0.7%), and the Dow futures are up 160 points (or 0.7%).

Several White House officials downplayed the possibility of a trade war between the U.S. and China over the weekend, with Treasury Secretary Steven Mnuchin saying that he "doesn't expect there will be a trade war." Chinese President Xi Jinping is set to make a speech at the Boao Forum tomorrow, and traders will be watching to see if he addresses the ongoing threat of tariffs between his country and the U.S.

Overseas, equity indices in Asia began the week on a higher note, with Hong Kong's Hang Seng (+1.3%) leading the charge, while the major indices in Europe are currently trading mixed. Deutsche Bank is the top performer in Germany, up 3.0%, after naming Christian Sewing as its new Chief Executive Officer, effective immediately.

Meanwhile, in the U.S. bond market, Treasuries are down this morning, pushing the yield on the benchmark 10-yr note up two basis points to 2.80%.

Investors will not receive any economic data today.

In U.S. corporate news:

Merck (MRK 55.14, +1.78): +3.3% following a positive phase 3 trial for its cancer treatment Keytruda.
General Motors (GM 38.50, +0.82): +2.2% after being upgraded to 'Overweight' from 'Equal-Weight' at Morgan Stanley.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a mostly higher note. Japan's Nikkei +0.5, Hong Kong's Hang Seng +1.3%, China's Shanghai Composite +0.2%, India's Sensex +0.5%.
In economic data:
China's FX Reserves $3.14 trillion, as expected (last $3.13 trillion)
Japan's February adjusted Current Account surplus JPY1.02 trillion (expected surplus of JPY1.39 trillion; last surplus of JPY2.02 trillion). March Household Confidence 44.3 (expected 44.6; last 44.3). March Economy Watchers Current Index 48.9 (expected 48.1; last 48.6)
In news:
The Boao Forum is taking place until Wednesday, and there are hopes that China's President Xi Jinping will talk about trade tomorrow.
Bank of Japan Governor Haruhiko Kuroda began his new term, reiterating the BoJ's intention to reach the elusive 2.0% inflation target.
Data released by the Bank of Korea showed that the real interest rates fell into negative territory last year, as inflation of 1.90% exceeded the average annual interest rate for savings accounts (1.56%).

Major European indices are mixed. UK's FTSE -0.2%, France's CAC +0.3%, Germany's DAX +0.6%.
In economic data:
Eurozone April Sentix Investor Confidence 19.6 (expected 21.2; last 24.0)
UK's March Halifax House Price Index +1.5% month-over-month (expected 0.1%; last 0.5%); +2.7% year-over-year (expected 2.1%; last 1.8%)
Germany's February trade surplus EUR19.20 billion (expected surplus of EUR23.10 billion; last surplus of EUR21.50 billion). February Imports -1.3% month-over-month (expected 0.3%; last -0.2%) and February Exports -3.2% month-over-month (expected 0.2%; last -0.4%)
Swiss March Unemployment Rate held at 2.9%, as expected
In news:
Deutsche Bank has contributed to the outperformance after Christian Sewing was named new Chief Executive Officer, effective immediately.
Coalition talks are set to continue in Italy this week, but center right parties have indicated they intend to stay united, meaning there is a low likelihood of a government composed of Movimento Cinque Stelle and Lega.


07:32AM ET
[BRIEFING.COM] S&P futures vs fair value: +17.00. Nasdaq futures vs fair value: +58.50.

07:10AM ET
[BRIEFING.COM] S&P futures vs fair value: +18.25. Nasdaq futures vs fair value: +64.75.

07:08AM ET
[BRIEFING.COM] Nikkei...21678.26...+110.70...+0.50%. Hang Seng...30229.58...+384.60...+1.30%.

07:08AM ET
[BRIEFING.COM] FTSE...7178.74...-4.90...-0.10%. DAX...12317.87...+76.60...+0.60%.

04:20PM ET

[BRIEFING.COM] The stock market closed the week on a decidedly lower note, falling victim to fears about potential trade wars, the Federal Reserve's tightening bias, and the specter of earnings growth not living up to this year's high expectations. The Dow, Nasdaq, S&P 500, and Russell 2000 declined between 1.9% and 2.3% in Friday's trade.

Things got off to a bad start following the news that President Trump ordered the Office of the U.S. Trade Representative to consider whether it would be appropriate to impose an additional $100 billion of tariffs on Chinese imports on top of the proposed $50 billion of tariffs announced on Wednesday.

China quickly responded, saying it would do what is necessary to protect its interests at any cost if the U.S. ultimately pressed ahead with such a tariff plan.

What rattled the stock market, though, was the feistier-sounding nature of administration officials today discussing the new proposal, as well as their seeming lack of concern about the difficulties the stock market has been having on account of the heated trade rhetoric between the U.S. and China.

President Trump noted that the stock market might have to have a little pain as he works to protect the trade interests of the U.S.; meanwhile, Treasury Secretary Mnuchin said in a CNBC interview that he is not focused on short-term market swings and that there is potential of a trade war with China even though that is not the objective.

The major indices rolled over after Mr. Mnuchin's comments and then cascaded even lower after Fed Chair Powell said he thinks inflation will pick up this Spring and that he sees further gradual rate hikes.

In essence, the stock market didn't get the verbal support it has been accustomed to receiving from leading officials in periods of uncertainty. Ironically, that fed a heightened sense of uncertainty about the outlook for the economy and earnings that kept many buyers on the sidelines and Friday's sellers focusing their efforts on the economically-sensitive sectors.

Every sector ended with a loss. The industrials sector (-2.7%) suffered the largest decline, but it had ample company.

The information technology (-2.5%), financial (-2.4%), materials (-2.4%), and health care (-2.4%) sectors all underperformed while losses in the consumer discretionary (-2.1%) and energy (-1.8%) sectors also weighed heavily.

The Dow Jones Industrial Average fell as many as 767 points on Friday before paring its losses in late action. That recovery effort coincided with a bounce in the S&P 500 after it breached its 200-day moving average (2594). Once again, though, the violation of that key technical level brought out the buyers who succeeded in pushing the S&P 500 back above the 200-day moving average by the closing bell.

The trade issues dominated the market narrative on Friday, but there was more to the story. The March employment report provided its own twist for the market.

It showed a surprisingly weak 103,000 gain in nonfarm payrolls and a sturdy 0.3% increase in average hourly earnings. All in all, it was a mixed report, yet it didn't alter the market's thinking about monetary policy other than making it think there was a diminished probability of a fourth rate hike in December.

The CME FedWatch Tool now pegs the probability of a fourth rate hike in December at 24.4% versus 32.7% on Thursday.

Reviewing Friday's economic data, which was limited to the Employment Situation Report for March and the Consumer Credit Report for February:

March nonfarm payrolls increased by 103,000 (Briefing.com consensus 175,000). March private sector payrolls increased by 102,000 (Briefing.com consensus 180,000). March unemployment rate was 4.1% (Briefing.com consensus 4.0%) versus 4.1% in February. March average hourly earnings were up 0.3% (Briefing.com consensus 0.2%), after increasing 0.1% in February. Over the last 12 months, average hourly earnings have risen 2.7%, versus 2.6% for the 12 months ending in February.
The key takeaway from the report is that it was neither too hot nor too cold to provide a clear basis for the Federal Reserve to re-think its outlook for monetary policy. At the same time, it will temper the market's concerns about the prospect of a fourth rate hike this year in December.
Total outstanding consumer credit increased by $10.6 billion in February (Briefing.com consensus $15.0 billion) after increasing an upwardly revised $15.6 billion (from $13.9 billion) in January.
The growth in February was driven almost entirely by nonrevolving credit, which was up $10.5 billion from January to $2836.6 billion.

There is no economic data of note on Monday.

Nasdaq Composite: +0.2% YTD
Russell 2000: -1.4% YTD
S&P 500: -2.6% YTD
Dow Jones Industrial Average: -3.2% YTD

Dow: -572.46… | Nasdaq: -161.44… | S&P: -58.37…
NASDAQ Adv/Dec 639/2290. …NYSE Adv/Dec 621/2307.

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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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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