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 Post subject: April 21st Wednesday 2010 Emini TF ($TF_F) points +2.60
PostPosted: Wed Apr 21, 2010 7:48 pm 
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Trade Journal By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, although this journal contains advertisements involving my trade methods, it does contain useful trading tips a few times per week. Thus, if you're looking for trading tips that can improve your trading and understand that profitable trading involves more than just entry signals...consistently read this trade journal and the #FuturesTrades chat room logs where I post my trades in real-time from entry to exit (see link below) via my IRC user name wrbtrader that's the same as my user name on twitter.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=73&t=501.

Quote:
Today's results are 3 wins : 1 loss. Only a few trades today because I had to stop trading around 1050am est because one of my kids got sick again. However, this time I had to take him to the clinic for some tests. Unfortunately, I also had to exit early a profitable trade that I was confident would have netted me a few points per contract in profits. However, family comes first and there's always another trading day.

Trading Tip: Be careful about choosing forum buddies that are consistent losers while debating with the few that are profitable because losing traders tend to manifest bad habits via transcribing beliefs shared with them by losing traders.


FYI - You can ask me questions here at the forum or you can tweet me on twitter about anything related to today's trading or related to your own trading.

Image@ http://twitter.com/wrbtrader


In addition, posted below are direct links about my trade methodology or trading approach 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 analysis).

http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradeStrategies.htm

Also, if you're interested in having free access to one of my profitable trade strategies along with earning extra income with little effort...join my referral program @ http://www.thestrategylab.com/ReferralProgram.htm

My Trading Performance: +2.60 points in the ICE Russell 2000 Emini TF ($TF_F) Futures
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Stocks Seesaw On Mixed Earnings
By Julianne Pepitone, staff reporter
April 21, 2010: 4:31 PM ET

NEW YORK (CNNMoney.com) -- Stocks ended mixed after a choppy session Wednesday, as differing profit reports from Apple and Yahoo weighed on the tech sector and investors remained wary following strong quarterly reports from Morgan Stanley and Wells Fargo.

The Dow Jones industrial average (INDU) added 8 points, or less than 0.1%, to end at 11,124.92. The S&P 500 index (SPX) fell 1 point, or 0.1%, to settle at 1,205.93, and the Nasdaq composite (COMP) rose 4 points, or 0.2%, to close at 2,504.61.

"As we get beyond earnings, attention is going to turn right back to the housing and job markets," said Dave Hinnenkamp, chief executive of KDV Wealth Management. "The downturn has left a really big scar, and investors who got burned will be cautious for some time."

Stocks finished Tuesday's session in positive territory, thanks to better-than-expected earnings from Goldman Sachs and several consumer companies.

"Investors were holding their breath for this earnings season, and it looks like it's going to be decent," Hinnenkamp said. "This makes people comfortable saying we're in a recovery process, but it's going to be a slow one."

Tech earnings: Late Tuesday, iPod and Mac maker Apple (AAPL, Fortune 500) posted a record quarter that blew past Wall Street's estimates. Apple shares ended more than 6.1% higher.
0:00 /1:42Apple crushes Wall St. expectations

Yahoo (YHOO, Fortune 500) also delivered earnings that beat expectations, but its sales came in below estimates. Shares closed down 4.9%.

"The tech sector leads out of the recession," Hinnenkamp said. "After that we'll be looking for the industrial and material sectors to rise -- and once we move forward, attention will turn to the energy sector."

Financial earnings: Earlier Wednesday, Morgan Stanley (MS, Fortune 500) said it swung to a $1.8 billion profit in the first quarter Wednesday before the bell, as strong trading revenue boosted the Wall Street firm's latest results. Shares of Morgan ended 4.2% higher.

Wells Fargo (WFC, Fortune 500) reported a $2.5 billion profit before the bell, beating Wall Street expectations. The company said that credit conditions have "turned the corner" from the weakness of the financial crisis. Still, Wells shares fell almost 2% by the end of trading.

Overall, the finance sector ended 10.8% higher Wednesday.

"We're not unreasonably priced at these levels, considering earnings," Hinnenkamp said, "but it's not a deep-value market, either."

Other corporate results: In addition to banks, investors digested quarterly results from several Dow components:

-- AT&T (T, Fortune 500) beat estimates on a boost from strong sales of Apple's iPhone;

-- Boeing (BA, Fortune 500)'s profit and revenue dropped amid fewer airplane deliveries;

-- McDonalds (MCD, Fortune 500)' earnings rose above predictions as sales rose across all its markets, especially Europe and Asia;

-- United Technologies (UTX, Fortune 500) also beat estimates.
Chrysler's miracle worker

Also, Chrysler announced that it earned its first operating profit since exiting bankruptcy on June 10, 2009. The profit follows nearly $4 billion of losses logged by the automaker during that time.

The results continued after the markets closed, with Starbucks (SBUX, Fortune 500) and other major names reporting results after the bell. The coffee chain handily beat profit and sales estimates, and the company lifted 2010 guidance. Shares were up 2% in after-hours trade.

In other company news, General Motors announced Wednesday morning that it had made a final payment of $5.8 billion late Tuesday to the U.S. and Canadian governments, paying off the last of its $6.7 billion in loans.

Outlook: "Psychological issues will continue to drive the markets," said KDV's Hinnenkamp.

He expects a slow but continued higher trend, with the S&P around 1,200 in the coming weeks, and the Dow around 11,250.

"The economy is improving, but slowly," Hinnenkamp said. "Thus recovery wont come as quickly hoped for, and a sustained bounceback can come only once housing and jobs kick in."

But even negative news outside of the real estate and employment sectors could put a damper on the uptick, Hinnenkamp added.

"Any piece of bad news, people worry there's an Armageddon," he said. "But there's always good and bad news out there -- it depends where you choose to focus."

World markets: European shares, including the FTSE 100 in Britain, France's CAC 40 and Germany's DAX, ended lower.

Asian markets ended the session mixed. Japan's Nikkei rallied 1.7% and the Shanghai Composite surged 1.8%. The Hang Seng in Hong Kong lost 0.5%.

Other markets: The dollar edged higher against the euro but remained weak versus the Japanese yen and the U.K. pound.

The price of oil fell 17 cents to settle at $83.68 a barrel. Wednesday marked the first day of the June contract.

COMEX gold for June delivery prices rose $9.60 to settle at $1,148.20 an ounce.

Treasury prices were higher, with the yield on the benchmark 10-year note at 3.78%. Bond prices and yields move in opposite directions.

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Yahoo! Finance

4:30 pm : Action was generally lackluster in the broader market this session, but there were a few pockets of strength as participants digested the latest round of earnings results.

Choppy trade took the S&P 500 from a modest gain in the early going down below the psychologically significant 1200 line, but the broad market measure was able to recover into the close to settle with a slight loss.

Industrials were a steady source of strength this session. The sector finished 0.9% higher amid strength in Dow components United Technologies (UTX 76.93, +2.73) and Boeing (BA 74.21, +2.80), along with Lockheed Martin (LMT 86.25, +1.28). Each posted a positive earnings surprise for the latest quarter.

Huntington Bancshares (HBAN 6.59, +0.76) led regional banks 1.7% higher, even as Wells Fargo (WFC 33.01, -0.68) faltered amid disappointment over the lender's top line results.

In a similar vein, Morgan Stanley (MS 31.68, +1.23) moved investment banks markedly higher with its earnings, but Goldman Sachs (GS 158.93, -1.05) failed to follow. Shares of GS were grounded despite a CNBC report that the SEC has a testimony that appears to contradict the fraud charges aimed against Goldman Sachs.

Financials finished with a 0.5% loss, but had been down in excess of 1% at their session low.

Health care stocks were the weakest overall with a 1.8% loss. That slide came even though Stryker (SYK 57.93, -0.52) and St Jude Medical (STJ 41.75, +0.75) posted positive reports. Abbott Labs (ABT 51.78, -1.28) also beat expectations, but led pharmaceutical plays lower. Gilead Sciences (GILD 40.76, -4.31) bested earnings expectations, too, but was hit with an analyst downgrade that imbued the broader biotech space.

Weakness among biotechs undermined the Nasdaq Composite, such that it was unable to finish with more than a modest gain despite a record high for Apple (AAPL 259.22, +14.63). Apple boasted blowout numbers in its latest quarterly report.

Though the Nasdaq Composite was hampered a bit, the Nasdaq 100 was able to outperform with a 0.5% gain. Amazon.com (AMZN 146.43, +2.23) was an additional source of support ahead of its earnings announcement Thursday night.

The S&P 400 Mid-Cap Index managed a 0.4% gain, thanks to help from Tupperware Brand (TUP 53.92, +5.56), which not only posted upside earnings results, but also issued an upside forecast.

Small-caps in the Russell 2000 settled 0.6% higher amid leadership from Cybersource (CYBS 25.72, +6.28), which will be acquired by Visa (V 93.13, -0.92) for $26 per share -- a premium of nearly 34% above its prior session close.

Commodities closed with a collective gain of 0.4%, as measured by the CRB Commodity Index. Its strength was primarily underpinned by gold's 0.8% gain to $1148.80 per ounce and silver's 1.4% climb to $18.08 per ounce in the face of the dollar's 0.2% increase against a basket of foreign currencies.

Oil prices failed to sustain a rebound that followed a selloff induced by a surprise build in weekly oil inventories. It settled with a 0.2% loss at $83.68 per barrel. Natural gas gave up a gain of more than 1% to close 0.5% lower at $3.96 per MMBtu.

Treasuries garnered strong support this session. In turn, the benchmark 10-year Note made its way 15 ticks higher, which took its yield down to 3.75%.

Advancing Sectors: Industrials (+0.9%), Consumer Discretionary (+0.6%), Tech (+0.4%), Utilities (+0.2%), Consumer Staples (+0.1%)
Declining Sectors: Health Care (-1.8%), Telecom (-0.9%), Financial (-0.5%), Energy (-0.2%), Materials (-0.1%) DJ30 +7.86 NASDAQ +4.30 SP500 -1.23 NASDAQ Adv/Vol/Dec 1418/2.63 bln/1265 NYSE Adv/Vol/Dec 1741/1.21 bln/1300

3:30 pm : The CRB Commodity Index put together a 0.4% gain for this session. Its strength was primarily underpinned by higher precious metals prices, which advanced in the face of the dollar's 0.2% increase against a basket of foreign currencies.

More specifically, gold prices closed pit trade with a 0.8% gain at $1148.80 per ounce. Silver prices settled with a 1.4% gain at $18.08 per ounce.

Energy prices succumbed to the efforts of sellers, though. Oil prices had dropped below $83 per barrel in response to a surprise build in weekly oil inventories, but then rebounded to a modest gain only to settle with a 0.2% loss at $83.68 per barrel.

Natural gas gave up a handsome gain. Prices for the commodity had been up more than 1%, but it retreated to a loss of 0.5% at $3.96 per MMBtu. DJ30 -17.23 NASDAQ -1.91 SP500 -4.78 NASDAQ Adv/Vol/Dec 1182/2.18 bln/1513 NYSE Adv/Vol/Dec 1512/867 mln/1533

3:00 pm : The S&P 500 breached 1200 during its recent slide, but support has helped the benchmark index make its way back above the psychologically significant line. Still, declining issues outnumer advancers by more than 3-to-2.

Health care has been the weakest sector for this entire session. The sector is now down 2.0% amid losses in Stryker (SYK 57.48, -0.97) and especially Gilead Sciences (GILD 40.68, -4.39). Both companies bested earnings expectations, but haven't found the same support as Genzyme (GENZ 54.43, +0.85) and St. Jude Medical (STJ 41.66, +0.66). DJ30 -21.91 NASDAQ -3.03 SP500 -4.99 NASDAQ Adv/Vol/Dec 1104/2.05 bln/1575 NYSE Adv/Vol/Dec 1406/793 mln/1631

2:30 pm : The financial sector recently rolled over so that it now trades with a 1.2% loss at a fresh session low. The broader market followed to a fresh session low of its own as the S&P 500 pushed through the 1202 line, which provided technical support earlier in the session. Still, the extent of the recent slide remains relatively modest.

While the broader market has gone deeper into the red, the industrials sector continues to sport a strong 0.6% gain. The sector is currently led by United Technologies (UTX 76.39, +2.19), Boeing (BA 74.21, +2.80), and Lockheed Martin (LMT 86.03, +1.06), all of which posted better-than-expected earnings for the latest quarter. DJ30 -29.77 NASDAQ -6.67 SP500 -6.47 NASDAQ Adv/Vol/Dec 1224/1.86 bln/1445 NYSE Adv/Vol/Dec 1607/683 mln/1408

2:00 pm : The Dow has mustered its way to a modest gain, but the broader S&P 500 remains slightly below the neutral line in what has been a rather lackluster afternoon. Despite the broader market's lack of action, there have been a few pockets of considerable strength.

Most of this session's biggest movers by percent are also those that posted some of the best earnings reports. In particular, shares of Huntingon Bancshares (HBAN 6.63, +0.80) are atop the list of this session's strongest percentage gainers. Fellow regional banks Zion Bancorp (ZION 28.85, +1.43) and Marshal & Isley (MI 9.96, +0.65) are also up sharply; they both reported results earlier this week. DJ30 +17.31 NASDAQ +2.20 SP500 -0.38 NASDAQ Adv/Vol/Dec 1192/1.74 bln/1446 NYSE Adv/Vol/Dec 1636/631 mln/1349

1:30 pm : The broader market remains mired in the red with a moderate loss, but the Nasdaq 100 has managed to sustain a 0.2% gain. Apple (AAPL 258.22, +13.63) is a primary leader in the large-cap tech loaded index.

Not to be outdone, the S&P 400 and Russell 2000 are also up 0.2%. The S&P 400 is currently led by Tupperware Brand (TUP 53.71, +5.35), which not only posted upside earnings results, but also issued an upside forecast. Meanwhile, the Russell 2000 is currently led by Cybersource (CYBS 25.61, +6.17), which will be acquired by Visa (V 93.42, -0.63) for $26 per share or a premium of nearly 34% over its prior session close. DJ30 +8.39 NASDAQ -0.74 SP500 -1.29 NASDAQ Adv/Vol/Dec 1165/1.61 bln/1472 NYSE Adv/Vol/Dec 1585/589 mln/1385

1:00 pm : Despite another large batch of better-than-expected earnings, trade has been choppy and a bit listless. That gave way to some moderate selling, but technical support helped provide a base for a rebound.

Blowout numbers from Apple (AAPL 258.17, +13.58) have the stock at an all-time high, but upside surprises from blue chips Boeing (BA 74.17, +2.76), McDonald's (MCD 70.07, -0.27), United Technologies (UTX 75.88, +1.68) and AT&T (T 26.42, -0.24) have been met with more of a mixed response.

Wells Fargo (WFC 33.11, -0.58) exceeded the Street's consensus earnings estimate, but disappointed with its top line results. However, a raft of other regional banks also posted positive earnings surprises to drive the group to a 2.6% gain.

Morgan Stanley (MS 32.06, +1.61) has been a leader among investment banks and brokerages, but Goldman Sachs (GS 159.97, -0.01) remains grounded even though CNBC reported that the SEC has a testimony that appears to contradict its own case regarding a fraud charge against Goldman Sachs.

There haven't been any data or Fed speakers to distract market participants from the latest wave of earnings results, which continue to portray a picture of an improved operating environment, but stocks have had a hard time putting together a sustainable gain this session. Stocks even slipped in late-morning trade, but the S&P 500 was able to find support at the 1202 line.

Though the stock market has climbed up from its session low, there hasn't been much leadership. As a consequence, Treasuries have attracted some solid support. In turn, the benchmark 10-year Note is up 12 ticks so that its yield is back down to 3.75%. At the longer end of the yield curve, the 30-year Bond is up 25 ticks with a current yield of 4.62%. DJ30 +9.07 NASDAQ +0.46 SP500 -0.57 NASDAQ Adv/Vol/Dec 1214/1.50 bln/1395 NYSE Adv/Vol/Dec 1675/545 mln/1283

12:30 pm : The Dow is back above the neutral line, but the Nasdaq Composite and S&P 500 remain just below dividing line with slight losses.

Oil prices have rallied from their selloff this morning. The price of crude oil had been down as low as $82.92 per barrel in the wake of some disappointing weekly inventory data, but it has since rebounded to a 0.2% gain at $84.05 per barrel.

Within the rest of the commodities complex, natural gas prices are exceptionally strong. Its contracts are currently priced 1.6% higher at $4.04 per MMBtu.

Despite the relative strength of energy prices, energy stocks have failed to find higher ground. Much like the broader market they are down modestly with a 0.1% loss. DJ30 +5.90 NASDAQ -0.85 SP500 -0.74 NASDAQ Adv/Vol/Dec 1135/1.37 bln/1451 NYSE Adv/Vol/Dec 1497/492 mln/1439

12:00 pm : Support at the 1202 line has helped the S&P 500 stem its recent slide. Still, the broad-based average remains in negative territory with a modest loss.

Volatility has spiked 5% this session, according to the Volatility Index. Volatility has seen some whipsaw-like swings during recent sessions. Just yesterday it dropped more than 9%, which followed a fall of more than 5% on Monday and a 15% surge this past Friday.

Treasuries have attracted the attention of buyers, such that the benchmark 10-year Note is up 11 ticks. That puts its back down to 3.76%. At the longer end of the yield curve, the 30-year Bond is up 25 ticks with a current yield of 4.62%. At the short end of the yield curve, the 2-year Note is down just one tick with a yield of 1.02%. DJ30 +1.44 NASDAQ -3.20 SP500 -1.64 NASDAQ Adv/Vol/Dec 1042/1.24 bln/1516 NYSE Adv/Vol/Dec 1356/440 mln/1557

11:30 am : Selling has intensified to take stocks in the broader market to fresh session lows. Losses are most pronounced among health care stocks, which are down 1.4%, but materials stocks have come under sharp pressure, which has pushed the sector to a 1.0% loss.

Though not as weak as the rest of the market, the Dow has slipped to a slight loss of its own. Its relative strength comes from Boeing (BA 73.65, +2.24), McDonald's (MCD 70.49, +0.15), and United Technologies (UTX 75.76, +1.36), all of which bested earnings expectations for the latest quarter. Fellow Dow component AT&T (T 26.28, -0.38) also reported an upside earnings surprise, but it has been out of favor since the start of the session. DJ30 -11.48 NASDAQ -8.24 SP500 -3.72 NASDAQ Adv/Vol/Dec 1152/1.07 bln/1439 NYSE Adv/Vol/Dec 1499/375 mln/1376

11:00 am : Stocks have pulled back from their highs and are now mixed-to-slightly higher on the session.

Strength can be found in the financials with shares of Morgan Stanley (MS 31.52, +1.07) up more than 3% and both Bank of America (BAC 18.77, +0.16) and Citigroup (C 5.03, +0.06) up in excess of 1%. Meahwhile, the broader financial sector is up a tepid 0.3%.

Another pocket of strength is the gold miners with the Market Vectors Gold Miners ETF (GDX 47.01, +0.55) also up more than 1%, but the rest of the materials sector has been hampered a selloff in energy following the latest inventory report. As such, the Materials Select Sector SPDR ETF (XLB 34.32, -0.13) is off to the tune of more than 0.4%.

Selling has also spread to some of the consumer staples with Yum! Brands (YUM 43.02, -0.08), Coca-Cola (KO 54.33, -0.12), McDonald's (MCD 70.32, -0.02), and Johnson & Johnson (JNJ 65.76, -0.22) all lower. DJ30 +26.00 NASDAQ +1.46 SP500 +0.81 NASDAQ Adv/Vol/Dec 1125/844 mln/1366 NYSE Adv/Vol/Dec 1447/290 mln/1371

10:30 am : The Dollar Index has pulled back off of earlier session highs, which has provided price support to most commodities.

June crude oil traded in positive territory overnight and in early morning activity, but fell into the red around 7:30ET. The energy component hit session lows of $83.61 per barrel shortly after, but picked up strength and pushed back into positive territory ahead of inventory data. Following inventory data, which showed a build of 1.894 million versus consensus of a draw down of 750,000 barrels, crude fell to session lows of $83.40 per barrel, now at $83.63 per barrel, down 0.3%.

May natural gas has traded in the red for most of today's session. After recent choppiness, natural gas hit session lows of $3.93 per MMBtu and is currently at $3.95 per MMBtu, down 0.6%.

Precious metals pulled back from highs earlier this morning, temporarily moving into negative territory. However, at the top of the hour, both June gold and May silver began to rally largely due to weakness in the dollar index. Gold is currently trading at $1143.60 per ounce, up 0.4%, while May silver is at $17.95 per ounce, up 0.7% DJ30 +16.55 NASDAQ +0.20 SP500 +0.72 NASDAQ Adv/Vol/Dec 1071/635.0 mln/1332 NYSE Adv/Vol/Dec 1437/234.0 mln/1308

10:00 am : Stocks have eased back a bit after staging a modest morning advance. Still, gains remain broad based with weakness still largely isolated to health care stocks (-0.9%) and telecom stocks (-0.9%).

Tech, which is the largest sector in the S&P 500 by market weight, is a primary source of strength in early action. The sector is up an enviable 0.7%. That advance is largely underpinned by Apple (AAPL 259.62, +15.03), which reported an upside earnings surprise after the prior session's close. Shares of AAPL currently trade at record highs.

Early movers: Trading up -- DEAR +104%, CYBS +31.9%, OBCI +21.7%, AKRX +13.7%, PCBC +13.6%, MANH +12.3%, KEY +8.4%, INTT +8.3%, HBAN +7.7%, TUP +7.2%; Trading down -- VITC -29.9%, CSIQ -10.8%, IGTE -10.6%, SNV -10.2%, GILD -9.5%, TTPA -9.4%, PJC -6.7%

Advancing Sectors: Tech (+0.7%), Industrials (+0.6%), Financials (+0.5%), Energy (+0.4%), Consumer Discretionary (+0.3%), Consumer Staples (+0.1%)
Declining Sectors: Telecom (-0.9%), Health Care (-0.9%), Materials (-0.2%)
Unchanged: Utilities DJ30 +21.24 NASDAQ +5.02 SP500 +1.70 NASDAQ Adv/Vol/Dec 151/365 mln/1104 NYSE Adv/Vol/Dec 1624/125 mln/1038

09:45 am : Stocks have put together a modest advance in the first few minutes of trade. The move has been relatively broad based, but health care stocks and telecom stocks have been noticeably absent -- both sectors are down 0.9% at the moment.

Health care stocks have been hampered in the early going by biotech stocks, which are down 3.4%, collectively. Gilead Sciences (GILD 40.76, -4.31) is the primary culprit in the pack. The stock is under sharp pressure after an analyst downgrade in the face of the company's better-than-expected earnings. However, Genzyme (GENZ 54.23, +0.65) has overcome early weakness following news that it exceeded earnings expectations for its latest quarter.

Telecom has been dragged down by AT&T (T 26.34, -0.32), which has been pressured despite better-than-expected earnings and solid customer metrics. DJ30 +33.71 NASDAQ +9.71 SP500 3.32 NASDAQ Adv/Vol/Dec 1172/346 mln/1104 NYSE Adv/Vol/Dec 1624/136 mln/1044

09:15 am : S&P futures vs fair value: +0.70. Nasdaq futures vs fair value: +12.30. Apple (AAPL) beat the consensus earnings estimate for its latest quarter with ease and, in turn, has won support for large-cap tech issues in the minutes leading up to the opening bell. Yahoo! (YHOO) has been an exception; even though it also exceeded expectations, a muddled forecast from the company has put its shares under pressure. A bevy of blue chips, including AT&T (T), United Technologies (UTX), Boeing (BA), and McDonald's (MCD), beat the Street's estimates, but the group has been met with a bit of a mixed response. Though their results point to a broadly improved earnings picture, some question whether their results have been baked into stock prices, especially with the stock market near its 52-week high and having difficulty setting markedly improved levels.

09:05 am : S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +12.00. Stock futures remain mixed, but commodity futures are generally flat. Oil prices are up fractionally to $83.90 per barrel in the first few minutes of pit trade. Action in the commodity could intensify with the release of weekly oil inventory data at 10:30 AM ET. Gold prices are essentially unchanged. They were last quoted at $1139.10 per ounce. Meanwhile, the greenback has garnered modest support, such that it is up roughly 0.2% against competing currencies.

08:37 am : S&P futures vs fair value: +0.20. Nasdaq futures vs fair value: +10.80. U.S. stock futures remain mixed, but weakness has crept into Europe's bourses. Germany's DAX is currently down 0.3% as declining issues outnumber advancers by 2-to-1. Allianz (AZ) is a key source of weakness. France's CAC is off by a considerable 0.8%. Financial issues are weakest as BNP Paribas, Societe Generale, and Axa (AXA) lead the list of laggards. As for Britain's FTSE, it is down 1.0%. HSBC (HBC) is the heaviest drag, but metals and miners like Rio Tinto (RTP) and BHP Billiton (BHP) are also out of favor. A few of Asia's major market averages were up sharply in the wake of Wall Street's strong, broad-based gains during the prior session. Mainland China's Shanghai Composite spiked 1.8% with help from Petrochina (PTR) and Industrial & Commercial Bank. Japan's Nikkei advanced 1.7% with only 10 of its 225 members posting a loss. Dentsu was atop the list of laggards, but Fanuc finished with one of the strongest gains. In contrast to the other Asian averages, Hong Kong's Hang Seng slipped 0.5% as banking issues fell out of favor.

08:05 am : S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +9.50. The overall earnings picture remains positive, but stock futures are a bit mixed this morning. Blowout numbers by Apple (AAPL) have the stock up nearly 6% in premarket trade, but Yahoo! (YHOO) is down more than 4% ahead of the opening bell even though it beat the consensus earnings estimate. A handful of Dow components, McDonald's (MCD), Boeing (BA), United Technologies (UTX), and AT&T (T), posted better-than-expected results, but their stocks are mixed in premarket trade. Morgan Stanley (MS) recently reported and upside surprise of its own and its shares are up more than 3% at the moment, while Wells Fargo (WFC) shares are down more than 1% after the company reported better-than-expected earnings but light revenue. Earnings remain the focal point of participants since there are neither economic releases nor Fed speakers scheduled for today.

06:30 am : S&P futures vs fair value: +0.10. Nasdaq futures vs fair value: +9.50.

06:30 am : Nikkei...11090.05...+189.40...+1.70%. Hang Seng...21510.93...-112.50...-0.50%.

06:30 am : FTSE...5745.75...-38.00...-0.70%. DAX...6264.85...+1.00...0.00.

Special thanks to Yahoo! Finance and CNNMoney for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
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