TheStrategyLab.com Free Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods
It is currently Tue Dec 12, 2017 8:35 pm

All times are UTC - 5 hours




Post new topic Reply to topic Bookmark and Share  [ 1 post ] 
Author Message
 Post subject: September 18th Tuesday 2012 Emini TF ($TF_F) points +2.60
PostPosted: Tue Sep 18, 2012 8:36 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3017
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Attachment:
091812-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-260.png
091812-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-260.png [ 32.07 KiB | Viewed 54 times ]

click on the above image to view today's performance verification
Quote:
The above results do not show commissions and fees included. Simply, today was actually a losing trading day after inclusion of the commissions and fees. I decided to do something I normally don't do within low volatility tight trading range...I increased my overall position size. It didn't work as planned and the day resulted as a loss and such could have easily been prevented. Had a few profitable trades suddenly reversed into a loss or small profit after almost reaching a WRB pt1. In addition, I made a critical calculation error in my last trade of the day via thinking I only needed 852.70 on a 6 contract position to close the day at a profit. In reality, I needed a 853.10 on all 6 contracts :(

Price Action Trade Performance for Today: +2.60 points or $260 dollars in the Russell 2000 Emini TF ($TF_F) Futures.
Russell 2000 Emini TF Futures - 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE.
S&P 500 Emini ES Futures - 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup.

In addition, all trades were posted real-time in the free #TheStrategyLab chat room. You can read today's #TheStrategyLab trading chat room logs for details (e.g. time, price, contract size) about each one of my trades from entry to exit along with price action commentary as the trade traversed in comparison to what's shown in the above image...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=108&t=1322.

Also, posted below 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)...regardless if I'm day trading, swing trading or position trading.

Image Price Action Analysis via WRB Analysis Tutorials @ 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.

Image 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 prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=171&t=1594

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

Market Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action. 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 via WRB Analysis from one trade to the next trade to give me the market context before the appearance of my technical analysis trade signals. Therefore, I maintain these archives 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 trading (day trading, swing trading, position trading) and reactions to the markets...something I can not get from my broker statements alone.

U.S. Market Wrap

Sept. 18 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. Most U.S. stocks fell, after the Standard & Poor’s 500 Index climbed to the highest level since 2007, as FedEx Corp. slumped and concern grew that European leaders will struggle to resolve the region’s debt crisis.

Attachment:
091812-Key-Price-Action-Markets.png
091812-Key-Price-Action-Markets.png [ 552.91 KiB | Viewed 50 times ]


Image

Market Update

4:10 pm : Today's session was mostly uneventful as equities remained near their opening levels throughout the day. The major averages showed some divergence as the S&P 500 shed 0.2% while the Dow added 0.1%.

Stocks within the consumer staples sector were the top performer of the day. Within the group, Energizer (ENR 75.22, +7.30) surged 10.7% after announcing preliminary results of a comprehensive review of the company's cost structure. As a result of the review, Energizer expects annualized cost savings of $175-200 million. Beverage and cigarette stocks were also on the rise within the defensive sector. Coca-Cola (KO 38.62, +0.27) and British American Tobacco (BTI 104.81, +2.70) ended higher by 0.9% and 2.6%, respectively.

The Dow Jones Transportation Average slipped 1.1% as it trailed the broader market. Disappointing guidance from FedEx (FDX 86.55, -2.73) spilled over to other group components as all twenty names within the transportation average traded lower. Airlines showed the biggest weakness as Delta (DAL 8.96, -0.27) and United Continental (UAL 19.27, -0.46) both fell near 2.5%. Shipping stocks were also pressured with Matson (MATX 21.84, -0.43) and Overseas Shipholding Group (OSG 6.76, -0.09) ending lower by 1.9% and 1.5%, respectively.

Technology stocks have traded mostly in-line with the broader market. AMD (AMD 3.62, -0.39) slumped 9.7% after Senior Vice President and Chief Financial Officer, Thomas Seifert announced his resignation. The company announced that Devinder Kumar will serve as interim Chief Financial Officer while a search for a replacement takes place.

Meanwhile, OCZ (OCZ 4.13, -0.33) slid 7.4% after Chief Executive Officer, Ryan Peterson resigned. The board of directors has appointed Amex Mei as interim Chief Executive Officer. The change at the top resulted in several analysts moving their ratings. Craig Hallum upgraded the stock from ‘hold' to ‘buy' while Stifel Nicolaus downgraded OCZ from ‘buy' to ‘hold.'

Elsewhere, F5 Networks (FFIV 108.62, +4.16) jumped 4.0% after Piper Jaffray commented on the company's attractive valuation, and said that the network provider is likely to beat earnings estimates. Other networking names finished lower with Cisco Systems (CSCO 19.04, -0.11) and Juniper Networks (JNPR 18.94, -0.43) slipping 0.6% and 2.2%, respectively.

For-profit education stocks were broadly higher today. Career Education (CECO 4.09, +0.27) and Corinthian Colleges (COCO 2.84, +0.14) added 7.1% and 5.2%, respectively. The advances did not appear to be news-driven as other education listings also made notable advances. Strayer Education (STRA 70.82, +2.85) and Bridgeport Education (BPI 11.64, +0.42) both gained near 4.0%.

The current account deficit for the second quarter totaled $117.4 billion, which was lower than the $126.8 billion deficit that had been broadly anticipated.

The July net long-term TIC flows print indicated a $67 billion inflow of foreign capital into U.S. denominated assets.

Lastly, the NAHB Housing Market Index for September registered a reading of 40, which was ahead of prior month's 37, and better than the reading of 38 that had been expected among economists polled by Briefing.com.

In tomorrow's economic data, the weekly MBA Mortgage Index will be reported at 7:00 ET, while housing starts and building permits will be released at 8:30 ET. Lastly, existing home sales will be announced at 10:00 ET.DJ30 +11.54 NASDAQ -0.87 SP500 -1.87 NASDAQ Adv/Vol/Dec 1203/1.65 bln/1260 NYSE Adv/Vol/Dec 1335/632.9 mln/1681

3:35 pm : Crude oil extended yesterday's losses as it traded in negative territory for most of its floor session. The energy component briefly broke into the black and touched a session high of $96.63 per barrel and fell back into the red. It settled 1.3% lower at $95.27 per barrel, just above its session low of $95.15 per barrel.

Natural gas popped to a floor session high of $2.92 per MMBtu moments after pit trade opened. However, the move was short lived as prices tumbled lower as the session progressed. It touched a session low of $2.76 per MMBtu as it headed into the close, and settled with a 3.1% loss at $2.78 per MMBtu.

Gold and silver came-off their respective floor session lows of $1758.90 per ounce and $34.19 per ounce set at the pit open and broke into positive territory in morning action. Gold brushed a session high of $1775.90 per ounce but fell back into the red. However, buyers stepped in and pushed prices back above the break-even level so that the yellow metal settled 50 cents higher at $1771.20 per ounce.

Silver popped to a session high of $35.10 per ounce but was unable to keep the momentum. It fell back to the unchanged line but managed to inch higher heading into the close and settled with a 1.0% gain at $34.74 per ounce.DJ30 +3.46 NASDAQ -2.60 SP500 -2.74 NASDAQ Adv/Vol/Dec 1194/1391.0 mln/1263 NYSE Adv/Vol/Dec 1252/416 mln/1741

3:00 pm : Heading into the final hour of trade, equities are maintaining their afternoon levels. The S&P 500 is off by 0.3%.

For-profit education stocks are broadly higher today. Career Education (CECO 4.11, +0.29) and Corinthian Colleges (COCO 2.87, +0.17) are firmer by 7.6% and 6.3%, respectively. The advances do not appear to be news-driven as other education listings are also advancing. Strayer Education (STRA 70.93, +2.96) and Bridgeport Education (BPI 11.60, +0.38) are both up near 4.0%.DJ30 -7.11 NASDAQ -4.54 SP500 -3.70 NASDAQ Adv/Vol/Dec 1114/1.23 bln/1348 NYSE Adv/Vol/Dec 1162/362.8 mln/1803

2:30 pm : The major averages are holding their afternoon levels as the S&P 500 is off by 0.2%.

The energy sector is the worst performer as crude oil trades lower by 1.2%. Oil and gas producers, Quicksilver Resources (KWK 3.83, -0.43), Gulfport Energy (GPOR 30.08, -2.48), and WPX Energy (WPX 16.54, -0.89) are all down between 5.0% and 10.0%.

Providers of oil and gas equipment are also weaker. Basic Energy (BAS 12.59, -0.49), Hornbeck Offshore (HOS 39.08, -1.30), and Matrix Service (MTRX 10.84, -0.46) are all posting losses in the neighborhood of 4.0%.DJ30 335.6 mln NASDAQ 1163 SP500 1809 NASDAQ Adv/Vol/Dec 1071/1.12 bln/1366 NYSE Adv/Vol/Dec 1160/335.9 mln/1810

2:00 pm : Quiet afternoon trade continues as the major averages remain range bound.

Financials are lower as sector rotation into safer stocks appears to be underway. The SPDR Financial Select Sector ETF (XLF 16.02, -0.11) is off by 0.7% with most major names firmly in the red. Bank of America (BAC 9.17, -0.13), Citigroup (C 33.78, -0.28), and Morgan Stanley (MS 17.65, -0.15) are all down near 1.0%.

Meanwhile, European financials are mixed as Deutsche Bank (DB 42.32, -1.97) is sliding 4.4%, while National Bank of Greece (NBG 2.58, +0.19) trades higher by 8.0%.DJ30 -11.40 NASDAQ -5.92 SP500 -4.23 NASDAQ Adv/Vol/Dec 1070/1.03 bln/1367 NYSE Adv/Vol/Dec 1142/308.3 mln/1819

1:30 pm : The major averages are holding their afternoon levels as the Dow trades flat.

The Dow Jones Transportation Average is off by 1.3% as it underperforms the broader market. Disappointing guidance from FedEx (FDX 87.01, -2.27) is spilling over to other group components as all twenty names within the transportation average trade lower. Airlines are showing the biggest weakness as Delta (DAL 8.96, -0.26) and United Continental (UAL 19.17, -0.56) are both down near 3.0%. Shipping stocks are also lower with Matson (MATX 21.79, -0.48) and Overseas Shipholding Group (OSG 6.67, -0.18) lower by 2.2% and 2.6%, respectively.DJ30 -2.82 NASDAQ -3.66 SP500 -2.93 NASDAQ Adv/Vol/Dec 1081/955.1 mln/1337 NYSE Adv/Vol/Dec 1175/287.4 mln/1775

1:05 pm : Following a downbeat start to the session, the major averages made several unsuccessful attempts at breaking into positive territory. Unable to stage a meaningful rally, the S&P 500 has been trading in a narrow range and the index is off by 0.2% at midday.

Consumer staples are outperforming the broader market. Within the group, Energizer (ENR 74.75, +6.83) is surging 10.0% after announcing preliminary results of a comprehensive review of the company's cost structure. As a result of the review, ENR expects annualized cost savings of $175-200 million. Beverage and cigarette stocks are also on the rise within the defensive sector. Coca-Cola (KO 38.72, +0.37) and British American Tobacco (BTI 105.22, +3.11) are up 1.0% and 3.1%, respectively.

Consumer discretionary stocks are generally lower on weakness among producers of apparel and luxury goods. Deckers Outdoor (DECK 43.86, -4.11) is sliding 8.6% after cautious comments were made by OTR. Meanwhile, Fossil (FOSL 89.63, -2.17), PVH (PVH 90.61, -3.65), and Movado (MOV 34.97, -1.45) are all down between 2.4% and 4.0%.

Technology stocks have traded mostly in-line with the broader market. AMD (AMD 3.68, -0.33) is slumping 8.2% after Senior Vice President and Chief Financial Officer, Thomas Seifert announced his resignation. The company announced that Devinder Kumar will serve as interim Chief Financial Officer while a search for a replacement takes place.

Meanwhile, OCZ (OCZ 4.24, -0.22) is sliding 4.9% after Chief Executive Officer, Ryan Peterson resigned. The board of directors has appointed Amex Mei as interim Chief Executive Officer. The change at the top resulted in several analysts moving their ratings. Craig Hallum upgraded the stock from ‘hold' to ‘buy' while Stifel Nicolaus downgraded OCZ from ‘buy' to ‘hold.'

Elsewhere, F5 Networks (FFIV 110.38, +5.92) is higher by 5.7% after Piper Jaffray commented on the company's attractive valuation, and said that the network provider is likely to beat earnings estimates. Other networking names are lower with Cisco Systems (CSCO 19.08, -0.08) and Juniper Networks (JNPR 18.92, -0.45) slipping 0.4% and 2.4%, respectively.

FedEx (FDX 87.15, -2.12) is down 2.4% despite beating on earnings and revenues. In addition, the company lowered their second quarter and full-year 2013 guidance below consensus.

The current account deficit for the second quarter totaled $117.4 billion, which was lower than the $126.8 billion deficit that had been broadly anticipated.

The July net long-term TIC flows print indicated a $67 billion inflow of foreign capital into U.S. denominated assets.

Lastly, the NAHB Housing Market Index for September registered a reading of 40, which was ahead of prior month's 37, and better than the reading of 38 that had been expected among economists polled by Briefing.com.DJ30 +2.44 NASDAQ -4.55 SP500 -3.02 NASDAQ Adv/Vol/Dec 1065/888.2 mln/1347 NYSE Adv/Vol/Dec 1173/269.7 mln/1751

12:30 pm : The S&P 500 and Nasdaq have slipped back to their respective session lows as the Dow continues to trade near its unchanged line.

Two technology names are sliding after leadership changes. AMD (AMD 3.66, -0.35) is slumping 8.7% after Senior Vice President and Chief Financial Officer, Thomas Seifert announced his resignation. The company announced that Devinder Kumar will serve as interim Chief Financial Officer while a search for a replacement takes place.

Meanwhile, OCZ (OCZ 4.23, -0.23) is down 5.2% after Chief Executive Officer, Ryan Peterson resigned. The board of directors has appointed Amex Mei as interim Chief Executive Officer. The change at the top resulted in changes in analyst ratings, Craig Hallum upgraded the stock from ‘hold' to ‘buy' while Stifel Nicolaus downgraded OCZ from ‘buy' to ‘hold.'DJ30 -11.37 NASDAQ -7.32 SP500 -4.37 NASDAQ Adv/Vol/Dec 1046/789.5 mln/1338 NYSE Adv/Vol/Dec 1113/247.1 mln/1798

12:00 pm : The major averages continue to hover near their respective unchanged lines.

Consumer discretionary stocks are generally lower on weakness among producers of apparel and luxury goods. Deckers Outdoor (DECK 44.08, -3.89) is sliding 8.1% after cautious comments were made by OTR. Meanwhile, Fossil (FOSL 89.98, -1.82), PVH (PVH 91.74, -2.53), and Movado (MOV 35.23, -1.19) are all down between 2.0% and 3.5%.

Elsewhere, Lumber Liquidators (LL 50.57, -2.14) is lower by 4.1% after Raymond James downgraded the stock from ‘market perform' to ‘underperform.' The downgrade was based solely on valuation after the stock added nearly 200.0% year-to-date.DJ30 -0.36 NASDAQ -1.78 SP500 -1.91 NASDAQ Adv/Vol/Dec 1108/685.2 mln/1253 NYSE Adv/Vol/Dec 1226/220.1 mln/1675

11:30 am : The major averages have risen to their session highs as the S&P 500 trades near its flat line. The Dow is outperforming, up 0.2%.

F5 Networks (FFIV 110.24, +5.78) is higher by 5.5% after Piper Jaffray commented on the company's attractive valuation and said that the network provider is likely to beat earnings estimates. Other networking names are mixed as Cisco Systems (CSCO 19.18, +0.02) trades higher by 0.2%, while Juniper Networks (JNPR 18.96, -0.41) is down 2.2%.DJ30 +18.24 NASDAQ -1.00 SP500 -0.61 NASDAQ Adv/Vol/Dec 1085/605.9 mln/1245 NYSE Adv/Vol/Dec 1274/194.6 mln/1562

11:00 am : The major averages remain near their opening levels as the Dow trades flat.

Consumer staple stocks are outperforming the broader market. Within the group, Energizer (ENR 74.26, +6.34) is higher by 9.3% after announcing preliminary results of a comprehensive review of the company's cost structure. As a result of the review, ENR expects annualized cost savings of $175-200 million. Beverage and cigarette stocks are also on the rise within the defensive sector. Coca-Cola (KO 38.99, +0.64) and British American Tobacco (BTI 105.38, +3.27) are up 1.6% and 3.2%, respectively.DJ30 +11.27 NASDAQ -2.88 SP500 -1.85 NASDAQ Adv/Vol/Dec 1017/498.1 mln/1256 NYSE Adv/Vol/Dec 1179/162.9 mln/1650

10:35 am : The dollar index has been inching higher in choppy trade all morning, putting pressure on crude oil.

Crude oil has been trading lower in overnight action and morning pit trade. It fell to a pit session low of $95.60 moments after equity markets opened and has since then traded up slightly. It touched a floor session high of $96.47 a few minutes ago and is currently just below that level, or down 0.2%. Natural gas popped to a pit session high of $2.92 but has since pulled-back to hover near the unchanged line.

Precious metals were down in negative territory in overnight trade but have rallied into the black in morning pit trade despite a stronger dollar index. Gold popped to a session high of $1775.90 and is now just below that level, or up 0.2%. Silver surged by over $1.00 off its session low to a session high of $35.09. It is now up 1.7% at 34.95.DJ30 +10.22 NASDAQ -0.96 SP500 -1.51 NASDAQ Adv/Vol/Dec 1044/411.9 mln/1182 NYSE Adv/Vol/Dec 1193/141 mln/1609

10:00 am : The major averages ticked up from early lows, but they remain in negative territory as the S&P 500 is off by 0.1%.

The NAHB Housing Market Index for September registered a reading of 40. That is up from the prior month, and better than the reading of 38 that had been expected among economists polled by Briefing.com.DJ30 -0.90 NASDAQ -0.15 SP500 -1.99 NASDAQ Adv/Vol/Dec 934/234.4 mln/1208 NYSE Adv/Vol/Dec 1164/98.1 mln/1556

09:45 am : The major averages have seen an extension of the early bearish sentiment. The S&P 500 is off by 0.3%.

Looking at the early sector performance, energy and financials are weaker as yesterday's risk-off trade extends into today's session. Telecoms, health care, and consumer staple stocks are showing relative strength as they attempt to stay positive.

The September NAHB Housing Market Index will be reported at 10:00 ET.DJ30 -19.22 NASDAQ -5.42 SP500 -3.81 NASDAQ Adv/Vol/Dec 744/130.1 mln/1305 NYSE Adv/Vol/Dec 873/69.1 mln/1749

09:14 am : [BRIEFING.COM] S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: -3.80. As we near the start of the U.S. session, futures continue pointing to a flat open.

Transportation stocks will be in focus today after FedEx (FDX 87.30, -1.98) issued disappointing second quarter and full-year 2013 guidance. A cautious outlook from an industry bellwether serves as an ominous sign regarding the outlook for the rest of the industry. Peer UPS (UPS 73.64, -0.59) is off by 0.8% in pre-market.

In economic news, the July net long-term TIC flows print indicated a $67 billion inflow of foreign capital into U.S. denominated assets.

The September NAHB Housing Market Index will be reported at 10:00 ET.

08:58 am : [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: -2.50. U.S. equity futures have lifted off their lows as they now point to a flattish start to the session.

European markets are down across the board as the focus turns back to Spain and the nation's hesitance to request a full bailout. Spain's 10-yr yield flirted with a 6% handle, but has eased to 5.909% after a well-received 12- and 18- month debt auction. Macro data in the region was fairly light, though the German ZEW painted a mixed picture for investors to digest. The Economic Sentiment component exceeded expectations, while its Current Conditions counterpart missed. On top of that, the ZEW suggests the German economy is expected to lose momentum over the next six months. This is noteworthy considering the survey was taken after the launch of European Central Bank's OMT program as well as additional easing from the Federal Reserve.

In France, the CAC is down 0.7% as car makers and financials weigh on the index. Peugeot and Renault are lower by 4.2% and 3.1%, respectively. Meanwhile, AXA and Societe Generale are both off by 3.0%. Consumer stocks within the index are managing to stay positive as beverage maker Pernod-Ricard and food processor Danone are both up near 1.0%.

Germany's DAX is lower by 0.6% with weakness also coming from financials and car makers. Deutsche Bank and Commerzbank are both down near 3.0% while Volkswagen and BMW are losing close to 2.0% each. Defensive, consumer stocks are advancing with Beiersdorf and Henkel up between 1.4% and 1.6%.

In the UK, the FTSE is off by 0.6% as financials post broad declines. Aviva, ICAP, and Prudential are all sliding between 2.7% and 4.4%. The risk-off trade appears to be in effect as defensive names like British American Tobacco and Vodafone Group lead the index. The two listings are both adding roughly 1.5%.

It was a sea of red across Asia as all of the major averages, with the exception of Korea (+0.1%), finished lower. Tensions remain high in the East China Sea with many large Japanese corporations shuttering factories in China due to worries of violent protests. Chinese housing data showed 53 of 70 cities posted year-over-year declines, and the Reserve Bank of Australia, in its latest minutes, noted a weakening of the Chinese economy. Elsewhere, Hong Kong's unemployment rate held steady at 3.2%.

In Japan, the Nikkei closed lower by 0.4% as names with heavy exposure to China were hit hard. Automakers Nissan Motor and Honda Motor fell 5.0% and 2.5% respectively while construction names Komatsu and Hitachi Construction Machinery shed 1.8% and 2.3% respectively. Elsewhere, Fast Retailing tumbled 7.0% after the retailer shut its Chinese locations.

Hong Kong's Hang Seng slipped 0.3% as energy and real estate names were weak. Coal-based China Shenhua Energy fell 1.6% while China Overseas Land & Investment shed 1.3%.

In China, the Shanghai Composite slid 0.9% as metal stocks underperformed. Aluminum maker Chalco lost 3.3% and Yunan Copper slipped 2.9% after the latest government figures showed the space saw the sharpest declines among government-owned enterprises.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: -6.50. Equity futures continue pointing to a slightly lower start to the session.

The current deficit for the second quarter totaled $117.4 billion, which is lower than the $126.8 billion deficit that had been broadly anticipated.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: -1.20. Nasdaq futures vs fair value: -4.00. It is a quiet morning in U.S. pre-market with equity futures pointing to a slightly lower open.

Overnight, reports out of Asia suggested many large Japanese companies are closing factories as tensions continue to mount in China, though many are set to re-open tomorrow. China posted August housing data that saw declines in 19 of 70 cities month-over-month (9 prior). The data also showed 53 of 70 cities saw a year-over-year drop. Additionally, the Reserve Bank of Australia Minutes revealed discussion of China's weakening economic growth. The regional indices finished lower as China's Shanghai Composite lost 0.9%, Japan's Nikkei slipped 0.4%, and Hong Kong's Hang Seng shed 0.3%.

In Europe, markets are lower with focus turning back to Spain as the nation is hesitant to request a full bailout. Spain's 10-yr yields flirted with 6% handle, but have eased following a well received 12- and 18- month debt auction. Macro data in the region was fairly light, though the German ZEW painted a mixed picture for investors to digest. The Economic Sentiment component exceeded expectations, while its Current Conditions counterpart missed. On top of that, the ZEW suggests the German economy is expected to lose momentum over the next six months. This is interesting considering the survey was taken after the launch of European Central Bank's OMT program as well as additional easing from the Federal Reserve. Nearing midday, European markets are all lower. France's CAC is down 1.1%, Germany's DAX is lower by 1.0%, and UK's FTSE is off by 0.7%. Peripheral indices are posting even wider losses with Spain's IBEX and Italy's MIB both down near 2.0%.

In U.S. corporate news, FedEx (FDX 87.90, -1.38) is down 1.6% despite beating on earnings and revenues. In addition, the company lowered their second quarter and full-year 2013 guidance below consensus.

Dole Food (DOLE 15.00, +1.30) is higher by 9.5% after announcing the sale of two of its businesses to Itochu Corp for $1.7 billion in cash.

OCZ (OCZ 4.50, +0.04) is up 0.9% after the company's Chief Executive Officer, Ryan Peterson resigned. The board of directors has appointed Amex Mei as interim Chief Executive Officer. In addition, Craig Hallum upgraded the stock from ‘hold' to ‘buy.'

AMD (AMD 3.84, -0.17) is sliding 4.2% after Senior Vice President and Chief Financial Officer, Thomas Seifert announced his resignation. The company announced that Devinder Kumar will serve as interim Chief Financial Officer while a search for a replacement takes place.

A handful of economic data points will be reported today. The current account balance will be released at 8:30 ET, while net long-term TIC flows and the NAHB Housing Market Index will be reported at 9:00 ET and 10:00 ET, respectively.

06:27 am : [BRIEFING.COM] S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -9.50.

06:27 am : Nikkei...9123.77...-35.60...-0.40%. Hang Seng...20601.93...-56.20...-0.30%.

06:27 am : FTSE...5844.28...-49.20...-0.80%. DAX...7324.43...-79.30...-1.10%.

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

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic Bookmark and Share  [ 1 post ] 

All times are UTC - 5 hours


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr