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 Post subject: October 4th Thursday TF & 6E Futures $2647.50
PostPosted: Thu Oct 04, 2012 2:55 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1860.00 dollars or +18.60 points and EuroFX 6E futures @ $787.50 dollars or +63 ticks. Total Profit @ $2647.50 dollars.

Russell 2000 Emini TF Futures - 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
Light Crude Oil CL (WTI) Futures - 1 tick or 0.01 = $10 dollars and there's more contract information @ CMEGroup
CME EuroFX 6E Futures - 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup
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=109&t=1337

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=192&t=1618

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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

Oct. 4 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market. U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a fourth day, as reports on jobless claims and factory orders were better than forecast and the European Central Bank said it stands ready to buy bonds.

Bank Stocks Lead Markets Higher

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click on the above image to view today's price action of key markets

NEW YORK (CNNMoney) -- Bank stocks led markets higher Thursday after European Central Bank president Mario Draghi reiterated the central bank's commitment to its new bond-buying plan.

The Dow, S&P 500, and the Nasdaq closed up between 0.5% and 0.7%.

Citigroup (C, Fortune 500), Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500), and Morgan Stanley (MS, Fortune 500) all surged between 2% and 4%.

Investors grew more bullish on the banking sector after Moody's said Regions Financial (RF, Fortune 500) and Zions Bancorp (ZION), two large regional banks, were being reviewed for potential upgrades.

"Those reviews are bullish for all banks, and we've seen some good news on housing, which also makes investors more interested in bank stocks," said Paul Powers, head of U.S. equity trading at Raymond James.

Stocks were also boosted by a series of economic reports that were mostly positive.

The Labor Department reported the number of people filing for first-time unemployment claims rose by 4,000 to 367,000 for the week ended Sept. 29. While that was slightly worse than forecasts, the figure still remains below the psychological 400,000 mark. And factory orders, which came in stronger than expected, also lent support.

But Europe still remains a big focal point for investors.

Draghi, who recently said he'd do whatever it takes to preserve the euro, stood by that decision Thursday, which renewed investors' hopes that Europe could pull through its sovereign debt crisis without too much carnage.

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Draghi said the ECB stands ready to buy bonds, but it's now up to political leaders to seek assistance as needed.

Meanwhile, ECB officials kept rates at 0.75%, while the Bank of England also left its key interest rate unchanged at 0.5%.

Wall Street trading desks were also abuzz with talk of Wednesday night's presidential debate. Some traders said investors appeared energized by what they saw as a win for Republican nominee Mitt Romney.

"People think Romney did really well," said Douglas DePietro, managing director at Evercore Partners." Romney seems to a lot of people to be more market-friendly."

Talk of a resurgent Romney campaign fueled a drop in hospital stocks Thursday, as Romney talked about repealing Obama's healthcare plan. Tenet Healthcare (THC, Fortune 500), HCA Holdings (HCA, Fortune 500) and Health Management Associates (HMA, Fortune 500) all fell about 2%, while health insurers Cigna (CI, Fortune 500), UnitedHealth Group (UNH, Fortune 500) and Humana (HUM, Fortune 500) were all up more than 1%.

Still, investors are largely playing a waiting game ahead of the government's closely watched monthly jobs report due out Friday. Beyond first-time employment claims, outplacement firm Challenger, Gray & Christmas said U.S.-based employers announced plans to cut 33,816 jobs in September, down 71% from a year earlier.

At 2 p.m. ET, the Federal Reserve released minutes from its most recent policy-making meeting, in which it announced the latest round of quantitative easing, or QE3. The minutes didn't sway investors one way or another.

European stocks closed nearly neutral. Britain's FTSE 100 and the DAX ended flat, while France's CAC 40 edged 0.1% lower.

Meanwhile, Asian markets ended higher. The Hang Seng in Hong Kong ticked up 0.1%, while Japan's Nikkei added 0.9%. Markets in Shanghai are closed this week for a holiday.

* Fear & Greed Index

Companies: Google (GOOG, Fortune 500) finally reached a settlement with the Association of American Publishers, which ends a seven-year litigation battle over the search engine's digitization of publishers' books. The stock moved up slightly on the news and hit an all-time high.

Shares of Sprint (S, Fortune 500) dropped , but the stock of MetroPCS (PCS, Fortune 500) moved higher after Bloomberg reported that Sprint could make a rival bid to block a T-Mobile/MetroPCS merger announced Wednesday.

Shares of software company Informatica (INFA) dropped more than 20% after the company revised its third-quarter outlook down. Competitors Red Hat (RHT), SAP (SAP) and CA Technologies (CA) also dipped.

Shares of Hewlett-Packard (HPQ, Fortune 500) ended the day up slightly, after falling 13% Wednesday on a disappointing 2013 earnings outlook.

After an initial 2% gain, Facebook (FB) shares closed up 0.5%, after CEO Mark Zuckerberg announced that as of Thursday morning, there are more than one billion people using Facebook actively each month.

Target (TGT, Fortune 500) shares rose 1% after the retailer reported net retail sales in a recent five-week period were $6 billion, about 2% higher than the same time last year.

Currencies and commodities: The dollar fell against the euro and British pound, but it gained against the Japanese yen.

Oil for November delivery added $3.57 to $91.71 a barrel.

Gold futures for December delivery rose $16.70 to $1,796.50 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury slipped, pushing the yield up slightly to 1.67% from 1.62% late Wednesday.

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Market Update

4:20 pm : Stocks began the session with a bullish bias. The rally reached session highs 30 minutes after the open when the August factory orders report indicated a 5.2% decrease. The number was not positive in itself, posting its worst reading since January 2009. However, it was better-than-feared as expectations called for a 6.0% pullback. After marking session highs, stocks spent the remainder of the day hovering near those levels. As a result, the S&P 500 closed with a gain of 0.7%.

The Federal Open Market Committee minutes suggested that economic activity continued to increase at a moderate pace in recent months. Employment rose slowly, but the unemployment rate remained high. Consumer price inflation was subdued, while measures of long-run inflation expectations remained stable. The committee also believes that significant additional asset purchases should not adversely affect the ability to tighten the stance of policy when doing so becomes appropriate.

The financial sector was the top performer, and the SPDR Financial Select Sector ETF (XLF 16.06, +0.23) settled higher by 1.5%. Major names showed strength across the board as Bank of America (BAC 9.41, +0.30) led its peers with a 3.3% gain. Meanwhile, Citigroup (C 34.96, +0.90), JPMorgan Chase (JPM 41.82, +0.96), and Morgan Stanley (MS 17.47, +0.44) all added in excess of 2.0%.

Elsewhere, Invesco Mortgage Capital (IVR 20.99, +0.59) advanced 2.9% after Morgan Stanley upgraded the stock from ‘equal-weight' to ‘overweight.'

The Dow Jones Transportation Average gained 0.9%. Transportation stocks extended their run from yesterday, but today's strength resulted from notable gains made by a couple of individual names. Ryder System (R 41.56, +2.35) jumped 6.0% after Sun Trust Robinson Humphrey upgraded the stock from ‘neutral' to ‘buy.'

Meanwhile, railroads Kansas City Southern (KSU 75.22, +1.49) and Union Pacific (UNP 121.57, +0.93) settled higher by 2.0% and 0.8%, respectively.

Airlines showed some weakness after yesterday's broad advances. Southwest Airlines (LUV 9.09, -0.06) and United Continental (UAL 20.81, -0.33) slipped between 0.6% and 1.6%.

The technology sector was the biggest laggard of the session. Two names within the space showed weakness after cutting their third quarter guidance below consensus. O2Micro (OIIM 3.54, -0.24) fell 6.4% after lowering guidance due to broad-based weakness in the company's end markets.

Meanwhile, Informatica (INFA 26.03, -7.59) sank 22.6% after lowering its earnings and revenue estimates. The company said that softening demand in Europe was the primary reason for the weakness. Qlik Technologies (QLIK 19.54, -1.30) slid 6.2% as it traded down in sympathy.

A couple of names saw gains following analyst upgrades. eBay (EBAY 49.49, +0.90) rose by 1.9% after Nomura upgraded the online auction site from ‘ neutral' to ‘buy.' In addition, BCD Semiconductor (BCDS 3.75, +0.20) jumped 5.6% after Raymond James upgraded the stock from ‘underperform' to ‘market perform.'

Earlier, retailers reported same store sales for the month of September. Out of the 18 companies which have already announced their results, ten reported below analyst expectations. The SPDR S&P Retail ETF (XRT 63.55, +0.98) added 1.6% despite the mixed results.

Looking at individual names, Costco (COST 101.48, +1.86) and Cato (CATO 30.28, +0.68) advanced 1.9% and 2.3%, respectively. Costco reported a 6.0% increase in September same store sales which was ahead of analyst expectations of a 5.2% increase. Meanwhile, Cato's 4.0% decrease was below expectations which called for sales to slip 0.7%.

Bon-Ton Stores (BONT 11.05, -0.91) slid 7.6% after reporting a 0.6% increase in same store sales. The Retail Metrics consensus called for a slightly higher growth of 1.0%.

The latest weekly initial jobless claims count totaled 367,000, which was higher than the 365,000 that had been expected. The tally was above the revised prior week count of 363,000. As for continuing claims, they were unchanged at 3.281 million.

The September Challenger Job Cuts report indicated a 70.8% year-over-year decrease in job cuts.

Tomorrow's economic releases will focus on jobs. Nonfarm payrolls, nonfarm private payrolls, unemployment rate, hourly earnings, and average workweek will all be released at 8:30 ET. In addition, consumer credit data will be reported at 15:00 ET.DJ30 +80.75 NASDAQ +14.23 SP500 +10.41 NASDAQ Adv/Vol/Dec 1675/1.52 bln/815 NYSE Adv/Vol/Dec 2209/674.7 mln/808

3:35 pm : Crude oil recovered from yesterday's losses as it advanced by 4% in today's pit trade. The energy component came off its session low of $88.66 per barrel and climbed higher as the dollar weakened and tensions escalated between Turkey and Syria. It eventually settled at $91.69 per barrel, just below its session high of $91.84 per barrel.

Natural gas plunged into negative territory and to its session low of $3.36 per MMBtu following inventory data that showed a build of 77 bcf when a build of 75 bcf was widely anticipated. However, prices rebounded and hit a session high of $3.46 per MMBtu in afternoon floor trade. After lots of choppy action, natural gas gave up most of its gains as it sold-off heading into the close and settled just 0.6% higher at $3.41 per MMBtu.

Gold extended yesterday's gains as a weaker dollar supported the upward trend. The yellow metal fell off its pit session high of $1797.20 per oune and slid to a session low of $1784.00 per ounce following Initial Claims data released in early morning action. However, buyers stepped in and pushed prices back up as they focused on the ECB's decision to leave rates unchanged and the upcoming FOMC minutes. Gold traded higher for the remainder of the session and settled with a 0.9% gain at $1796.20 per ounce.

Silver also tumbled to a floor session low of $34.69 per ounce after trading as high as $35.17 per ounce prior to today's economic data. Despite the initial dip, the metal recovered most of its gains and settled at $35.09 per ounce, or 1.2% higher.DJ30 +79.44 NASDAQ +16.27 SP500 +10.60 NASDAQ Adv/Vol/Dec 1572/1274.0 mln/874 NYSE Adv/Vol/Dec 2070/460 mln/928

3:00 pm : The key indices are holding their afternoon levels as the S&P 500 is firmer by 0.7%.

The financial sector is the top performer as the SPDR Financial Select Sector ETF (XLF 16.05, +0.22) trades higher by 1.4%. Major names are showing strength across the board as Bank of America (BAC 9.36, +0.25) leads its peers, up 2.9%. Meanwhile, Citigroup (C 34.78, +0.72), JPMorgan Chase (JPM 41.80, +0.94), and Morgan Stanley (MS 17.41, +0.38) are all adding in excess of 2.0%.

European financials are displaying comparable strength as UBS (UBS 12.85, +0.26) and Credit Suisse (CS 22.55, +0.47) are both rising by 2.1%.

Elsewhere, Invesco Mortgage Capital (IVR 20.98, +0.58) is advancing 2.8% after Morgan Stanley upgraded Invesco from ‘equal-weight' to ‘overweight.'DJ30 +87.28 NASDAQ +12.59 SP500 +10.32 NASDAQ Adv/Vol/Dec 1574/1.14 bln/851 NYSE Adv/Vol/Dec 2049/411.1 mln/923

2:30 pm : Stocks showed little change after the Federal Reserve released the minutes from its most recent Federal Open Market Committee meeting. The biggest initial reaction to the minutes was observed in the dollar index which ticked up from its session lows. The major averages ticked down slightly, but the move was not significant.

Looking closer at the document, the information reviewed at the September 12-13 meeting suggested that economic activity continued to increase at a moderate pace in recent months. Employment rose slowly, but the unemployment rate remained high. Consumer price inflation was subdued, while measures of long-run inflation expectations remained stable.

The staff also discussed the potential implications of additional asset purchases for the evolution of the Federal Reserve's balance sheet and income. The presentation noted that significant additional asset purchases should not adversely affect the ability of the Committee to tighten the stance of policy when doing so becomes appropriate. In their discussion of the staff presentation, a few participants noted the uncertainty surrounding estimates of the effects of large-scale asset purchases, or the need for additional work regarding the implications of such purchases for the normalization of policy.

The near-term forecast for inflation was revised up from the projection prepared for the August meeting, reflecting increases in consumer energy prices that were greater than anticipated. However, the staff's projection for inflation over the medium term was little changed. With crude oil prices expected to gradually decline from their current levels, the boost to retail food prices from the drought was anticipated to be only temporary and comparatively small. The committee expects long-run inflation expectations to remain stable, and substantial resource slack is expected to persist over the projection period.DJ30 +80.33 NASDAQ +8.65 SP500 +9.41 NASDAQ Adv/Vol/Dec 1522/1.05 bln/892 NYSE Adv/Vol/Dec 2021/379.5 mln/934

2:00 pm : The major averages continue to trade just below their session highs as the S&P 500 is up 0.7%.

MetroPCS (PCS 12.00, -0.24) is down 2.0% on heavy volume. The company is back in the news after reports indicated that Sprint (S 5.00, -0.20) may be making a counter offer for MetroPCS. Shares of Sprint are sliding 3.9% on the news.DJ30 +92.59 NASDAQ +12.05 SP500 +10.84 NASDAQ Adv/Vol/Dec 1588/963.6 mln/833 NYSE Adv/Vol/Dec 2142/348.1 mln/834

1:30 pm : The major averages are holding their afternoon levels. The S&P 500 is firmer by 0.7%.

The Dow Jones Transportation Average is up 1.0% as it outperforms the broader market. Transportation stocks are extending their run from yesterday, but today's strength is resulting from notable advances being made by a couple of individual names. Ryder System (R 41.38, +2.17) is jumping 5.5% after Sun Trust Robinson Humphrey upgraded the stock from ‘neutral' to ‘buy.'

Meanwhile, railroads Kansas City Southern (KSU 75.32, +1.59) and Union Pacific (UNP 122.06, +1.42) are up 2.2% and 1.2%, respectively.

Airlines are showing some weakness after yesterday's broad advances. Delta Airlines (DAL 10.09, -0.07) and United Continental (UAL 20.88, -0.25) are down between 0.6% and 1.2%.DJ30 +90.52 NASDAQ +9.88 SP500 +10.20 NASDAQ Adv/Vol/Dec 1446/888.2 mln/961 NYSE Adv/Vol/Dec 2086/322.1 mln/873

1:00 pm : Stocks opened the session on a positive note before a second wave of buying lifted the major indices to their session highs. The S&P 500 and Dow have been able to hold the majority of their early gains, and are both higher by 0.7%. The Nasdaq is up 0.2% as it underperforms.

Crude oil is rebounding from recent weakness. After falling over 4.0% yesterday, the energy component is up 2.5%. Energy stocks are following as the SPDR Energy Select Sector ETF (XLE 73.57, +0.55) trades higher by 0.7%. Within the sector, refinery stocks are outperforming. Tesoro (TSO 43.64, +1.09) and Valero (VLO 32.55, +0.96) are both up near 2.8%. Meanwhile, Marathon Petroleum (MPC 55.12, +0.60) is advancing 1.1%.

Coal stocks are broadly higher after Republican challenger Mitt Romney commented on the industry during last night's presidential debate. Governor Romney said that the coal industry has been "crushed" by the current administration, and that he "likes coal."

The Market Vectors Coal ETF (KOL 23.72, +0.53) is adding 2.3% as major coal producers all show robust gains. James River Coal (JRCC 2.93, +0.28) is spiking 10.6% while Arch Coal (ACI 6.61, +0.41) and CONSOL Energy (CNX 31.42, +1.71) are higher by 6.9% and 5.8%, respectively.

The technology sector is the biggest laggard of the session. Two names within the space are showing weakness after cutting their third quarter guidance below consensus. O2Micro (OIIM 3.50, -0.28) is down 7.4% after lowering guidance due to broad-based weakness in company's end markets.

Meanwhile, Informatica (INFA 24.92, -8.71) is sinking 25.9% after lowering its earnings and revenue estimates. The company said that softening demand in Europe is the primary reason for the weakness. Qlik Technologies (QLIK 18.85, -1.99) is sliding 9.6% as it trades down in sympathy.

A couple of names are seeing gains following analyst upgrades. eBay (EBAY 49.49, +0.90) is up 1.9% after Nomura upgraded the online auction site from ‘ neutral' to ‘buy.' In addition, BCD Semiconductor (BCDS 3.77, +0.22) is jumping 6.2% after Raymond James upgraded the stock from ‘underperform' to ‘market perform.'

Elsewhere in tech, Hewlett-Packard (HPQ 14.75, -0.16) is down 1.1% as it continues to exhibit weakness stemming from lowered full-year 2013 guidance. The stock has slid 15.8% since the guidance cut was announced at the company's analyst day yesterday. Three analyst price target cuts are also contributing to today's selling. Most notably, Deutsche Bank lowered its price target for the computer maker from $15 to $10.

The latest weekly initial jobless claims count totaled 367,000, which is higher than the 365,000 that had been expected. The tally is above the revised prior week count of 363,000. As for continuing claims, they were unchanged at 3.281 million.

The September Challenger Job Cuts report indicated a 70.8% year-over-year decrease in job cuts.

August factory orders showed a decrease of 5.2%, which was better than the Briefing.com consensus of a 6.0% decrease.

Lastly, the Federal Reserve will release the minutes from its September 12 meeting at 14:00 ET.DJ30 +73.88 NASDAQ +4.86 SP500 +8.24 NASDAQ Adv/Vol/Dec 1318/844.2 mln/1073 NYSE Adv/Vol/Dec 1913/298.9 mln/1019

12:30 pm : The major averages continue to trade near their recent levels. The S&P 500 is up 0.6%.

Crude oil is rebounding from recent weakness. After falling over 4.0% yesterday, the energy component is adding 2.5%. Energy stocks are following as the SPDR Energy Select Sector ETF (XLE 73.70, +0.68) trades higher by 0.9%.

Within the sector, refinery stocks are outperforming. Tesoro (TSO 43.89, +1.34) and Valero (VLO 32.71, +1.12) are both up near 3.5%. Meanwhile, Marathon Petroleum (MPC 55.24, +0.72) is advancing 1.3%.DJ30 +87.82 NASDAQ +7.68 SP500 +9.49 NASDAQ Adv/Vol/Dec 1300/756.9 mln/1062 NYSE Adv/Vol/Dec 1921/277.9 mln/987

12:00 pm : Stocks are continuing to retreat off session highs as the S&P 500 trades near the middle of the day's range, up 0.5%.

The technology sector is the biggest laggard of the session. Two names within the space are showing weakness after cutting their third quarter guidance below consensus. O2Micro (OIIM 3.53, -0.25) is down 6.6% after lowering guidance due to broad-based weakness in company's end markets.

Meanwhile, Informatica (INFA 24.35, -9.28) is sinking 27.6% after lowering its earnings and revenue estimates. The company said that softening demand in Europe is the primary reason for the weakness. Qlik Technologies (QLIK 18.85, -1.99) is down 9.6% as it trades in sympathy with Informatica.

A couple of names are trading higher following analyst upgrades. eBay (EBAY 49.50, +0.91) is up 1.9% after Nomura upgraded the online auction site from ‘ neutral' to ‘buy.' In addition, BCD Semiconductor (BCDS 3.75, +0.20) is jumping 5.6% after Raymond James upgraded the stock from ‘underperform' to ‘market perform.'

Elsewhere in tech, Hewlett-Packard (HPQ 14.62, -0.28) is down 2.0% as it continues to exhibit weakness stemming from lowered full-year 2013 guidance. The stock has slid 15.8% since the guidance cut was announced at the company's analyst day yesterday. Three analyst price target cuts are also contributing to today's selling. Most notably, Deutsche Bank lowered its price target for the computer maker from $15 to $10.DJ30 +65.54 NASDAQ +2.03 SP500 +7.23 NASDAQ Adv/Vol/Dec 1137/670.1 mln/1186 NYSE Adv/Vol/Dec 1684/248.9 mln/1194

11:30 am : The key averages ticked lower after headlines out of Europe indicated that Eurozone officials are doubting the viability of Spain's 2013 budget. Despite the slight dip, the S&P remains higher by 0.5%.

Coal stocks are broadly higher after Republican challenger, Mitt Romney commented on the industry during last night's presidential debate. Governor Romney said that the coal industry has been crushed by the current administration and that he "likes coal."

The Market Vectors Coal ETF (KOL 23.58, +0.39) is adding 1.7% as major coal producers all show robust gains. James River Coal (JRCC 2.85, +0.20) is spiking 7.6% while Arch Coal (ACI 6.58, +0.38) and CONSOL Energy (CNX 31.03, +1.32) are higher by 6.0% and 4.4%, respectively.DJ30 +59.40 NASDAQ -2.21 SP500 +5.90 NASDAQ Adv/Vol/Dec 1043/586.5 mln/1254 NYSE Adv/Vol/Dec 1570/220.7 mln/1296

11:00 am : The major averages are holding their levels just below their session highs. The S&P 500 is up 0.7%.

Earlier, retailers have reported same store sales for the month of September. Out of the 18 companies which have already announced their results, ten reported below analyst expectations. The SPDR S&P Retail ETF (XRT 63.11, +0.54) is adding 0.9% despite the mixed results.

Looking at individual names, Costco (COST 100.71, +1.09) and Nordstrom (JWN 57.15, +1.27) are advancing 1.1% and 1.7%, respectively. Costco reported a 6.0% increase in September same store sales which was ahead of analyst expectations of a 5.2% increase. Meanwhile, Nordstrom's 4.4% increase fell short of expectations which called for sales growth of 5.4%.

Bon-Ton Stores (BONT 11.49, -0.46) is down 3.9% after reporting a 0.6% increase in same store sales. The Retail Metrics consensus called for a slightly higher growth of 1.0%.DJ30 +92.81 NASDAQ +9.26 SP500 +10.36 NASDAQ Adv/Vol/Dec 1265/478.6 mln/977 NYSE Adv/Vol/Dec 1867/183.7 mln/980

10:35 am : Natural gas futures were a few cents higher heading into the weekly nat gas futures inventory data. However, following the data, which showed a build of 77 bcf vs a build of 75 bcf consensus, natural gas tanked 6 cents to a new LoD of $3.26/MMBtu. In current trade, nat gas is +0.7% at $3.42/MMBtu.

Nov crude oil has been in an uptrend all morning and just hit a new session high of $89.49/barrel. In current action, crude oil is +1.5% at $89.46/barrel.

Metals have been volatile as well, especially following ECB comments. Gold has been in positive territory all session so far, while silver earlier fell back to the unchanged line, but just for a brief moment. In current trade, Dec gold is +0.7% at $1791.60/oz and Dec silver is +0.6% at $34.89/oz. Dec copper is +0.3% at $3.79/lb.DJ30 +82.77 NASDAQ +10.00 SP500 +9.79 NASDAQ Adv/Vol/Dec 1355/378.9 mln/810 NYSE Adv/Vol/Dec 1929/154 mln/869

10:05 am : Stocks are maintaining their levels following the release of the latest factory orders data.

August factory orders showed a decrease of 5.2%, which was better than the Briefing.com consensus of a 6.0% decrease.DJ30 +40.47 NASDAQ +1.52 SP500 +5.82 NASDAQ Adv/Vol/Dec 1177/213.9 mln/926 NYSE Adv/Vol/Dec 1751/99.9 mln/940

09:45 am : Stocks are holding their early gains as the S&P 500 trades higher by 0.3%.

Looking at the sector alignment, consumer staples, discretionaries, financials, and materials are all trading ahead of the broader market.

On the downside, technology stocks are lagging as the sector trades down 0.4%. Within the sector, semiconductor producers are showing weakness as the Market Vectors Semiconductor ETF (SMH 31.61, -0.06) is off by 0.3%.

Factory orders will be reported at 10:00 ET.DJ30 +32.87 NASDAQ -0.52 SP500 +4.43 NASDAQ Adv/Vol/Dec 1191/130.4 mln/845 NYSE Adv/Vol/Dec 1772/73.3 mln/836

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +8.50. Heading into the open, equity futures continue to trade near their pre-market highs. The S&P 500 futures are up 0.5%.

High beta sectors appear poised for a stronger open as producers of basic materials trade higher in pre-market. Alpha Natural Resources (ANR 6.47, +0.17) and Cliffs Natural Resources (CLF 38.55, +0.66) are adding 2.7% and 1.7%, respectively.

Major financials are also in-line for a higher start. Bank of America (BAC 9.22, +0.11) and Citigroup (C 34.41, +0.35) are both up near 1.0% in pre-market.

Factory orders will be reported at 10:00 ET. In addition, the Federal Reserve will release the minutes from its September meeting at 14:00 ET.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +5.80. U.S. equity futures have slipped off their pre-market highs, but they remain in the black. The S&P 500 futures are adding 0.4%.

The major Asian bourses ended mostly higher as markets caught a bid ahead of the Bank of England and European Central Bank rate decisions. Markets responded favorably to a strong showing from Governor Mitt Romney in the first of three presidential debates. India's Sensex (+1.0%) outperformed after the government announced proposals to reform the insurance and pension sectors. Chinese markets remained closed for the Golden Week. Australian data was mixed as building approvals (6.4% month-over-month actual v. 4.8% expected) beat and retail sales (0.2% month-over-month actual v. 0.5% expected) missed. Elsewhere in the region, India's HSBC Services PMI ticked up to 55.8 (55.0 previous) and Hong Kong retail sales rose 4.5% year-over-year (3.3% expected).

In Japan, the Nikkei closed higher by 0.9% to snap its four-day losing streak. The yen weakened ahead of tonight's Bank of Japan rate decision, providing a lift to exporters. Nissan Motor rallied 5.1% and Honda Motor gained 3.1%. Elsewhere, Canon slipped 2.2% after its client, Hewlett-Packard, provided a cautious outlook for 2013.

Hong Kong's Hang Seng added 0.1% as financials led while casino stocks lagged. HSBC gained 1.8% after announcing its tier 1 capital ratios exceeded the limit set forth by the European Banking Authority. Meanwhile, Sands China slumped 3.5% after Macau gaming revenues for September fell short of estimates.

In China, the Shanghai Composite was closed.

Europe is seeing choppy trade as the key indices show little change. The regional markets opened in positive territory, but fell when reports indicated the next tranche of Greek aid would be delayed. Spain auctioned off 2-, 3-, and 5-year debt in an auction which went generally well. Demand was relatively strong as the short-term yields decreased and the bid to cover ratio edged up. Despite a dip in short-term yields, the 10-yr benchmark yield is up 6 basis points, to 5.858%. Elsewhere in the region, the Bank of England left interest rates and its asset purchase program unchanged. Likewise, the European Central Bank maintained its interest rate at 0.75%.

France's CAC is adding 0.1% on strength in financials. Credit Agricole and Societe Generale are both up near 1.7%. Energy stocks are showing relative weakness as Technip and Total trade down 1.0% and 0.8%, respectively.

In the United Kingdom, the FTSE is higher by 0.1% as industrial names outperform. Smiths Group and Weir Group are showing gains between 2.3% and 2.6%. On the downside, producers of basic materials are lagging. Johnson Matthey and BHP Billiton are down 2.0% and 1.2%, respectively.

Germany's DAX is flat as car makers outperform. BMW and Volkswagen are up 2.6% and 1.4%, respectively. Basic material stocks are generally lower. BASF and Lanxess are shedding between 0.9% and 1.5%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +7.80. Equity futures are holding their levels after the release of the latest initial and continuing claims. The S&P 500 futures are up 0.4%.

The latest weekly initial jobless claims count totaled 367,000, which is higher than the 365,000 that had been expected. The tally is above the revised prior week count of 363,000. As for continuing claims, they were unchanged at 3.281 million.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +8.80. U.S. equity futures are higher by 0.4% amid a generally quiet pre-market.

Overnight, the global equity markets continued inching higher. As mainland China remained closed for the Golden Week, the Asian region as a whole was stronger. This was mostly attributed to solid data out of the U.S. yesterday, and resulted in strength in auto and electronics exporters listed on Japan's Nikkei. In other news, Australia's monthly retail sales report fell short of expectations. Looking at regional indices, Japan's Nikkei finished higher by 0.9%, Hong Kong's Hang Seng added 0.1%, and China's Shanghai Composite was closed.

Europe is seeing choppy trade as the key indices show little change. The regional markets opened in positive territory, but fell when reports indicated the next tranche of Greek aid would be delayed. Spain auctioned off 2-, 3-, and 5-year debt in an auction which went generally well. Demand was relatively strong as the short-term yields decreased and the bid to cover ratio edged up. Despite a dip in short-term yields, the 10-yr benchmark yield is up 6 basis points, to 5.858%. Elsewhere in the region, the Bank of England left interest rates and its asset purchase program unchanged. Likewise, the European Central Bank maintained its interest rate at 0.75%. Nearing midday, France's CAC and UK's FTSE are adding 0.1% each, while Germany's DAX is flat.

In U.S. corporate news, NuVasive (NUVA 15.75, -6.87) is sliding 30.2% after lowering its third quarter revenue guidance to $147 million. The company pointed to an increase in delays and denials from insurance payers as one of the reasons for a lackluster quarter. As a result of the guidance cut, several analysts downgraded the shares of the medical equipment producer.

The September Challenger Job Cuts report indicated a 70.8% year-over-year decrease in job cuts.

Weekly initial and continuing unemployment claims will be released at 8:30 ET, while factory orders are scheduled to be reported at 10:00 ET. In addition, the Federal Reserve will release the minutes from its September 12 Federal Open Market Committee meeting at 14:00 ET. Also of note, retailers will announce their monthly comparable store sales reports.

06:12 am : [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +6.50.

06:12 am : Nikkei...8824.59...+77.70...+0.90%. Hang Seng...20907.95...+19.70...+0.10%.

06:12 am : FTSE...5812.62...-13.10...-0.20%. DAX...7302.05...-20.00...-0.30%.

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

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