Weeks Review into W/C 8th August 2022

Weeks Review into W/C 8th August 2022

August 7, 2022 0 By The Balanced Trader

Last Weeks Summary

Weeks Summary

After a stronger-than-expected jobs data raised the possibility of more aggressive Federal Reserve tightening, U.S. equities markets concluded Friday’s session with mixed results. The Nasdaq gained 2.2 percent for the week, while the S&P 500 increased by 0.4 percent and the Dow fell by 0.1 percent. Treasury’s had a sharp selloff on Friday as a result of the possibility of greater interest rate increases by the country’s central bank; the yield on the 10-year Treasury note ended the week at 2.83 percent. In the meantime, as U.S. stocks unexpectedly increased and OPEC and its partners decided to increase production by 100,000 barrels per day, oil prices plummeted this week to their lowest level since early February.

Events Calendar:

KEY TAKEAWAYS


AIG, BioNTech, Sysco, Wynn Resorts, Norwegian Cruise Line, Hyatt Hotels, Disney, Fox Corporation, and numerous other companies will be among those reporting profits the following week.


The July Consumer Price Index (CPI), which will give the most recent information on consumer inflation in the United States, will be released by the Bureau of Labor Statistics (BLS) on Wednesday.


On Thursday, the Producer Price Index (PPI), which tracks inflation from the perspectives of manufacturers and retailers, will be released.


An essential measure of consumer confidence, the Michigan Consumer Sentiment Index (MCSI), will announce its preliminary August score on Friday.

Events Calendar:

Monday, August 8

  • Dominion Energy (D), AIG (AIG), BioNTech (BNTX), Tyson Foods (TSN), Barrick Gold (GOLD), Palantir Technologies (PLTR), and News Corporation (NWS), Novavax (NVAX), Acadia Pharmaceuticals (ACAD), and Primerica (PRI) report earnings
  • Consumer Inflation Expectations (July)


Tuesday, August 9

  • Emerson Electric (EMR), Sysco (SYY), Welltower (WELL), Roblox (RBLX), Coinbase (COIN), Warner Music Group (WMG), XP (XP), Hyatt Hotels (H), Wynn Resorts (WYNN), Ralph Lauren (RL), Planet Fitness (PLNT), IAC/InterActiveCorp (IAC), H&R Block (HRB), Norwegian Cruise Line (NCLH), and iRobot Corp. (IRBT) report earnings
  • NFIB Business Optimism Index (July)
  • IBD/TIPP Economic Optimism Index (Aug)

Wednesday, August 10

  • Disney (DIS), Manulife Financial (MFC), Fox Corporation (FOXA), Wendy’s (WEN), Bumble (BMBL), and Pan American Silver (PAAS) report earnings
  • Consumer Price Index (CPI) Inflation Rate (July)
  • Wholesale Inventories (June)

Thursday, August 11

  • Brookfield Asset Management (BAM), Baidu (BIDU), Illumina (ILMN), Rivian Automotive (RIVN), Aegon (AEG), and Dillard’s (DDS) report earnings
  • Producer Price Index (PPI) Inflation Rate (July)

Friday, August 12

  • Broadridge Financial Solutions (BR) and Spectrum Brands (SPB) report earnings
  • Import and Export Prices (July)
  • Michigan Consumer Sentiment Index – Preliminary Reading (Aug)
  • U.K. GDP Growth Rate – Preliminary Estimate (Q2 2022)

https://www.earningswhispers.com/calendar

Weekly Review

Balanced Distribution Week -Balance rules apply Weekly One Time Frame Up

H: 4170 L: 4080.5  VPOC 4121 SETTLE: 4142

MONITORING: H: 4170 L: 4080.5

Price Action Review

Why look at the Weekly and Monthly?

Using the composite profiles gives me a lot of clarity in understanding the market. Understanding the story and the basic mechanics of what is going on simplifies almost every other aspect of my trading, especially timing.

By identifying areas of balance/ acceptance in the auction I have a natural edge. I can identify value and the pivots of change. In balance I look to fade the extremes, when activity leaves an area of acceptance, I monitor for strength and conviction of the move. For this, I use volume and value as a guide. As a general rule, if a move is genuine, volume and value will move in away from prior acceptance to a new area.

Monthly Profiles

Monthly Balanced Distribution, Monthly One Time Frame Up

H 4170 L 4080 VPOC 4121

3 Month Profile References

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UPDATE: