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 Post subject: November 7th Wednesday TF, 6E & CL Futures $2050
PostPosted: Wed Nov 07, 2012 6:07 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
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)

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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 @ $2050.00 dollars or +20.50 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $0.00 dollars or +0.00 points. Total Profit @ $2050.00 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 = $10.00 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=110&t=1363

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). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade or position trade.

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=195&t=1654

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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.

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Market Update

4:30 pm : Stocks began the day firmly in the red after Barack Obama was reelected to a second term as president. Contributing to the bearish sentiment were comments from European Central Bank President Mario Draghi who said that the European debt crisis is starting hurt the German economy. The negative outlook was confirmed by this morning's Eurozone Autumn Forecast, which also pointed to an expected slowdown in the German economy. Further, the country's industrial production report showed a 1.8% month-over-month decrease, while the reading was expected to reflect a more palatable decline of 0.5%. The S&P 500 spent the first two hours of the session in a steady sell-off, before stabilizing near the 1,400 level and ending with a loss of 2.4% on heavy volume.

The financial sector saw the widest losses, and the SPDR Financials Select Sector ETF (XLF 15.61, -0.54) fell 3.3%. Among the majors, Morgan Stanley (MS 16.63, -1.56) and Bank of America (BAC 9.23, -0.71) were two of the weakest names as they settled lower by 8.6% and 7.1%, respectively.

Real estate investment trusts saw relative strength as compared to the remainder of the financial sector. The Vanguard REIT Index ETF (VNQ 64.68, -0.29) shed 0.5%. Looking at individual REITs, American Tower Corporation (AMT 75.24, +1.47) gained 2.0% after AT&T (T 33.63, -1.16) announced plans to modernize and expand its network. Meanwhile, Public Storage (PSA 143.34, +2.31) advanced 1.6%, and healthcare REIT Ventas (VTR 64.12, +0.21) rose by 0.3%.

With crude oil down over 4.5%, energy stocks saw notable weakness. Among major energy producers, Exxon Mobil (XOM 88.18, -2.86), Chevron (CVX 107.51, -2.85), and Anadarko Petroleum (APC 70.41, -2.66) lost between 2.5% and 3.6%.

Providers of energy equipment also underperformed. ION Geophysical (IO 6.39, -0.36) and Basic Energy Services (BAS 9.47, -0.56) closed lower by 5.3% and 5.6%, respectively.

Coal stocks saw broad losses after presidential challenger and coal proponent, Mitt Romney, was denied his bid for the White House. The Market Vectors Coal ETF (KOL 24.45, -1.42) lost 5.5%. Arch Coal (ACI 7.58, -1.08) was one of the weakest performers, and fell 12.5%. Peers Peabody Energy (BTU 26.24, -2.80), CONSOL Energy (CNX 33.28, -2.16), Walter Energy (WLT 34.26, -3.05) saw respective losses of 9.6%, 6.1%, and 8.2%.

The health care sector outperformed the broader market due to strength in hospital operators. During the presidential campaign, the Affordable Care Act was a point of contention, and Mr. Romney threatened to repeal the law if elected. Mr. Obama's reelection bodes well for healthcare stocks which benefit from the law. Community Health Systems (CYH 30.39, +1.71) and Health Management Associates (HMA 8.28, +0.56) gained 6.0% and 7.3%, respectively. Meanwhile, Tenet Healthcare (THC 27.34, +2.39) surged 9.6%.

Homebuilders saw narrower losses than the broader market and the SPDR S&P Homebuilders ETF (XHB 26.43, -0.27) slipped 1.0%. Hovnanian Enterprises (HOV 5.50, +0.19) and Lennar (LEN 39.05, +0.16) rose by 3.6% and 0.4%, respectively.

Elsewhere, gun maker stocks outperformed. Sturm, Ruger & Co (RGR 47.68, +3.04) gained 6.8% and Smith & Wesson (SWHC 10.36, +0.90) soared 9.6%.

The Dow Jones Transportation Average outperformed the remaining industrials. Within the 20-stock complex only United Continental (UAL 20.53, +0.06) traded in the black. The air carrier added 0.3%.

Freight carrier Con-way (CNW 28.56, -1.23) was the biggest laggard among transportation stocks, down 4.1%. Railroads also lagged. Kansas Southern (KSU 79.67, -2.53) and CSX (CSX 20.23, -0.63) both lost near 3.0%.

Looking at earnings, News Corp (NWSA 24.67, +0.39) finished higher by 1.6% after beating on earnings. During the first quarter, the media company earned $0.43 on $8.14 billion in revenue. The company's bottom line exceeded the Capital IQ consensus estimate by $0.05, while the revenue was in-line with expectations.

WellPoint (WLP 57.85, -3.35) slid 5.5% after the health benefits company reported mixed earnings. WLP earned $2.09, which was $0.25 better than the Capital IQ consensus estimate. However, the company's revenue of $15.13 billion was reported below expectations. Following the earnings release, Bank of America/Merrill Lynch downgraded the stock to ‘underperform' from ‘buy.'

In today's economic news, the weekly MBA Mortgage Index showed a 5.0% decrease in new applications. This follows prior week's decline of 4.8%.

Meanwhile, consumer credit increased by $11.4 billion in September. This follows prior month's reading of an $18.1 billion increase, and was higher than the $10.6 billion that had been broadly expected among economists polled by Briefing.com.

Tomorrow, weekly initial and continuing claims and the September trade balance will all be released at 8:30 ET.

The U.S. Treasury will auction off $16 billion in 30-yr bonds.DJ30 -312.95 NASDAQ -74.64 SP500 -33.86 NASDAQ Adv/Vol/Dec 377/2.0 bln/2120 NYSE Adv/Vol/Dec 557/878.1 mln/2550

3:30 pm : Crude oil tumbled deeper into negative territory on broad market weakness and a stronger dollar following the re-election of Barack Obama as the country's President. Inventory data that showed a build of 1.766 mln barrels when a build of 1.8 mln barrels was anticipated did little to change crude's downward trend. The energy component dipped as low as $84.05 per barrel moments before it settled pit trade with a 4.6% loss at $84.50 per barrel.

Similarly, precious metals feel into negative territory alongside the equities market. Gold fell off its session high of $1730.00 per ounce and dipped as low as $1703.00 per ounce. However, buyers stepped in and took prices back to near the unchanged level by afternoon pit trade. Gold settled the session just $0.40 lower at $1714.10 per ounce.

Silver traded as high as $32.28 per ounce in early morning floor action but tumbled to a session low of $31.22 per ounce. It also attempted to erase losses but eventually settled 1.1% lower at $31.67 per ounce.

Natural gas also spent its entire floor session in the red. It brushed a session high of $3.60 per MMBtu and touched a session low of $3.56 per MMBtu before it settled 1.1% lower at $3.58 per MMBtu.DJ30 -239.17 NASDAQ -59.66 SP500 -25.39 NASDAQ Adv/Vol/Dec 362/1662.4 mln/2104 NYSE Adv/Vol/Dec 557/594 mln/2536

3:00 pm : The S&P 500 continues to hold the 1,400 level as it trades lower by 2.0%.

According to recent reports, consumer credit increased by $11.4 billion in September. This follows prior month's reading of an $18.1 billion increase, and is higher than the $10.6 billion that had been broadly expected among economists polled by Briefing.com.DJ30 -265.51 NASDAQ -65.21 SP500 -28.65 NASDAQ Adv/Vol/Dec 356/1.51 bln/2114 NYSE Adv/Vol/Dec 533/542.8 mln/2539

2:30 pm : The S&P 500 is down 2.1% as it continues to hover near the 1,400 level.

For-profit education stocks are underperforming the broader market. ITT Educational Services (ESI 18.55, -2.31) is one of the main laggards as it trades lower by 11.1%. Career Education (CECO 3.59, -0.33) and Apollo Group (APOL 19.58, -1.62) are also notably weaker as the two trade lower by 8.6% and 7.6%, respectively.

Meanwhile, New Oriental Education & Technology (EDU 16.88, -0.23) and Grand Canyon Education (LOPE 23.44, -0.49) are outperforming their peers as the two stocks see respective losses of 1.4% and 2.1%.DJ30 -278.0 NASDAQ -70.43 SP500 -29.96 NASDAQ Adv/Vol/Dec 350/1.41 bln/2133 NYSE Adv/Vol/Dec 529/505.1 mln/2535

2:00 pm : The S&P 500 has stabilized around the 1,400 level. The benchmark index is currently down 2.0%.

Looking back at notable earnings, News Corp (NWSA 24.75, +0.47) is higher by 1.9% after beating on earnings. During the first quarter, the media company earned $0.43 on $8.14 billion in revenue. The company's bottom line exceeded the Capital IQ consensus estimate by $0.05, while the revenue was in-line with expectations.

Looking at this morning's earnings, Kraft Foods (KRFT 44.74, +0.04) is adding 0.1% after beating on the bottom line. During the third quarter the food producer earned $0.79, which was $0.10 better than the Capital IQ consensus estimate. Meanwhile, the company's revenue was reported at $4.61 billion, representing a 3.0% year-over-year increase. In addition, Kraft reaffirmed its full-year 2013 guidance.

Elsewhere, WellPoint (WLP 58.14, -3.06) is slipping 5.0% after the health benefits company reported mixed earnings. WLP earned $2.09, which was $0.25 better than the Capital IQ consensus estimate. However, the company's revenue of $15.13 billion was reported below expectations. Following the earnings release, Bank of America/Merrill Lynch downgraded the stock to ‘underperform' from ‘buy.'

Lastly, Macy's (M 41.27, -0.11) is off by 0.3% after beating on earnings. The company's outlook, however, was a point of concern as the multiline retailer expects fourth quarter earnings below consensus.DJ30 -264.21 NASDAQ -65.95 SP500 -28.41 NASDAQ Adv/Vol/Dec 350/1.3 bln/2114 NYSE Adv/Vol/Dec 503/467.1 mln/2540

1:35 pm : The major averages have recovered a small portion of their losses. However, the three indices remain down in excess of 2.0%.

The Dow Jones Transportation Average is outperforming the remaining industrials as it trades lower by 1.9%. Within the 20-stock complex only United Continental (UAL 20.66, +0.19) is trading in the black. The air carrier is higher by 0.9%.

Freight carrier Con-way (CNW 28.63, -1.18) is the biggest laggard among transportation stocks, down 3.9%. Railroads are also underperforming. Kansas Southern (KSU 79.38, -2.82) and CSX (CSX 20.32, -0.54) are down 3.4% and 2.6%, respectively.DJ30 -266.0 NASDAQ -63.42 SP500 -27.72 NASDAQ Adv/Vol/Dec 348/1.21 bln/2101 NYSE Adv/Vol/Dec 497/435.5 mln/2540

1:05 pm : Equities opened the session sharply lower after Barack Obama was reelected to a second term as President. Adding to the bearish sentiment were comments from European Central Bank President Mario Draghi, who said that the European debt crisis is starting hurt the German economy. The negative outlook was confirmed by this morning's Eurozone Autumn Forecast, which also pointed to an expected slowdown in the German economy. The S&P 500 continued selling off through the first two hours of the session, before leveling off. At midday, the index is down 2.0%.

Financial stocks are seeing broad weakness. The SPDR Financials Select Sector ETF (XLF 15.70, -0.45) is down 2.8%. Among the majors, Morgan Stanley (MS 16.89, -1.30) and Bank of America (BAC 9.37, -0.57) are two of the weakest names as they trade lower by 7.2% and 5.8%, respectively.

Real estate investment trusts are seeing relative strength as compared to the remainder of the financial sector. The Vanguard REIT Index ETF (VNQ 64.72, -0.25) is off by 0.4%. Looking at individual REITs, American Tower Corporation (AMT 75.31, +1.54) is higher by 2.1%, Public Storage (PSA 143.05, +2.02) is advancing 1.5%, and healthcare REIT Ventas (VTR 64.13, +0.22) is adding 0.3%.

Coal stocks are broadly lower after Presidential challenger and coal proponent, Mitt Romney, was denied his bid for the White House. The Market Vectors Coal ETF (KOL 24.48, -1.39) is down 5.4%. Arch Coal (ACI 7.53, -1.13) is one of the weakest performers as it trades lower by 13.2%. Peers Peabody Energy (BTU 26.60, -2.44), CONSOL Energy (CNX 33.24, -2.20), Walter Energy (WLT 34.24, -3.05) are seeing respective losses of 8.4%, 6.2%, and 8.3%.

The health care sector trades in-line with the broader market, but hospital operators are seeing notable gains. During the presidential campaign, the Affordable Care Act was a point of contention, and Mr. Romney threatened to repeal the law if elected. Mr. Obama's reelection bodes well for healthcare stocks which benefit from the law. Community Health Systems (CYH 30.63, +1.95) and Health Management Associates (HMA 8.36, +0.64) are both up near 7.5%. Meanwhile, Tenet Healthcare (THC 27.31, +2.36) is surging 9.5%.

Homebuilders are seeing narrower losses than the broader market. The SPDR S&P Homebuilders ETF (XHB 26.35, -0.34) is lower by 1.3%. Hovnanian Enterprises (HOV 5.41, +0.10) and NVR (NVR 915.27, -2.26) are higher by 2.1% and 0.3%, respectively.

Elsewhere, gun maker stocks are outperforming. Sturm, Ruger & Co (RGR 47.17, +2.53) is higher by 5.7% and Smith & Wesson (SWHC 10.28, +0.82) is higher by 8.7%.

The September consumer credit report will be released at 15:00 ET.DJ30 -270.30 NASDAQ -67.81 SP500 -28.48 NASDAQ Adv/Vol/Dec 324/1.13 bln/2114 NYSE Adv/Vol/Dec 460/407.1 mln/2575

12:35 pm : The S&P 500 is holding its recent levels as it trades lower by 2.2%.

The health care sector trades in-line with the broader market, but hospital operators are seeing notable gains. During the presidential campaign, the Affordable Care Act was a point of contention, and Mr. Romney threatened to repeal the law if elected. Mr. Obama's reelection bodes well for healthcare stocks which benefit from the law. Community Health Systems (CYH 30.74, +2.04) and Health Management Associates (HMA 8.30, +0.58) are both up near 7.3%. Meanwhile, Tenet Healthcare (THC 27.20, +2.25) is surging 9.0%.DJ30 -303.81 NASDAQ -69.76 SP500 -31.52 NASDAQ Adv/Vol/Dec 293/1.02 bln/2134 NYSE Adv/Vol/Dec 414/373.1 mln/2604

12:05 pm : After marking its session low at 1388, the S&P 500 has recovered seven points, but it remains firmly lower. The benchmark index is currently down 2.3%.

Financial stocks are seeing broad weakness. The SPDR Financials Select Sector ETF (XLF 15.68, -0.46) is down 2.9%. Among the majors, Morgan Stanley (MS 16.97, -1.22) and Bank of America (BAC 9.37, -0.57) are two of the weakest names as they trade lower by 6.7% and 5.7%, respectively.

Meanwhile, American Express (AXP 55.71, -1.48) and US Bank (USB 32.71, -0.88) are outperforming as they see losses near 2.6%.

Elsewhere, real estate investment trusts are seeing relative strength as compared to the remainder of the financial sector. The Vanguard REIT Index ETF (VNQ 64.55, -0.42) is off by 0.7%. Looking at individual REITs, American Tower Corporation (AMT 75.25, +1.48) is higher by 2.0%, Public Storage (PSA 141.87, +0.84) is advancing 0.6%, and healthcare REIT Ventas (VTR 63.83, -0.08) is shedding 0.1%.DJ30 -316.21 NASDAQ -70.57 SP500 -32.86 NASDAQ Adv/Vol/Dec 284/930.2 mln/2130 NYSE Adv/Vol/Dec 389/341.5 mln/2618

11:30 am : The major averages continue pushing lower and the S&P 500 is down 2.7%.

Homebuilders are seeing narrower losses than the broader market. The SPDR S&P Homebuilders ETF (XHB 26.12, -0.58) is lower by 2.2%. Hovnanian Enterprises (HOV 5.31, 0.00) and NVR (NVR 912.00, -1.01) are marginally lower. Looking at other homebuilder stocks, Lennar (LEN38.32, -0.57) is down 1.4% and KB Home (KBH 16.22, -0.34) is off by 2.1%.DJ30 -352.00 NASDAQ -84.70 SP500 -40.30 NASDAQ Adv/Vol/Dec 281/798.9 mln/2091 NYSE Adv/Vol/Dec 365/294.8 mln/2608

11:05 am : The major averages are extending their losses and the S&P 500 is down 2.3%.

With crude oil down over 4.0%, energy stocks are seeing the most notable weakness among the S&P 500 components. Among major energy producers, Exxon Mobil (XOM 88.12, -2.92), Chevron (CVX 107.25, -3.11), and Anadarko Petroleum (APC 70.67, -2.40) are all down near 3.0%.

Providers of energy equipment are also underperforming. ION Geophysical (IO 6.40, -0.35) and Basic Energy Services (BAS 9.48, -0.55) are down 5.3% and 5.6%, respectively.

As mentioned earlier, coal stocks are broadly lower after Presidential challenger and coal proponent, Mitt Romney, was denied his bid for the White House. The Market Vectors Coal ETF (KOL 24.60, -1.27) is down 4.9%. Arch Coal (ACI 7.69, -0.97) is one of the weakest performers as it trades lower by 11.2%. Peers Peabody Energy (BTU 26.77, -2.26), CONSOL Energy (CNX 33.40, -2.00), Walter Energy (WLT 34.80, -2.50) are seeing respective losses of 7.8%, 5.7%, and 6.7%.DJ30 -291.00 NASDAQ -68.97 SP500 -31.52 NASDAQ Adv/Vol/Dec 303/645.5 mln/2038 NYSE Adv/Vol/Dec 408/242.4 mln/2540

10:35 am : Commodities are lower this morning following the presidential election, while the dollar index is higher and near its session high.

Dec crude oil has been lower all morning and has been on a rather steady downtrend. Weekly oil inventory data just came out, which was basically in-line as the EIA reported a build of 1.766 mln vs. the consensus of a build of 1.8 mln. Gasoline inventories, however, showed a build of 2.875 mln vs. the consensus, which called for a draw of 1.5 mln. Crude is now -3.6% at $85.52/barrel.

Natural gas has been in the red all session and fell as low as $3.56/MMBtu. Currently, the December contract is -0.9% at $3.59/MMBtu.

Precious metals were higher earlier this morning, but sold off about 30 minutes after floor trading began. Dec gold is now -0.1% at $1713.50/oz and Dec silver is -1.2% at $31.64/oz. Dec copper is -1.9% at $3.44lbDJ30 -245.97 NASDAQ -56.41 SP500 -26.18 NASDAQ Adv/Vol/Dec 327/458.9 mln/1962 NYSE Adv/Vol/Dec 435/196 mln/2472

10:00 am : Equities are holding near their early lows and the S&P 500 is down 1.5%.

Coal stocks are seeing broad weakness after challenger and coal proponent, Mitt Romney, was denied his bid for the White House. The Market Vectors Coal ETF (KOL 24.85, -1.02) is down 3.9%. Arch Coal (ACI 7.73, -0.93) is one of the weakest performers as it trades lower by 10.8%. Peers Peabody Energy (BTU 27.20, -1.84) and Walter Energy (WLT 35.33, -1.97) are seeing respective losses of 6.4% and 5.4%.DJ30 -219.12 NASDAQ -42.53 SP500 -22.75 NASDAQ Adv/Vol/Dec 360/280.1 mln/1859 NYSE Adv/Vol/Dec 424/126.3 mln/2397

09:50 am : Equities extended their bearish pre-market sentiment. The S&P 500 is lower by 1.3%.

All ten S&P 500 sectors are trading in the red. Telecoms are showing the biggest weakness, down 2.1%. Financials and energy stocks are also notably lower as the two sectors see losses near 1.9%. On the upside, consumer staple and discretionary stocks are seeing the slimmest losses.

Apple (AAPL 569.18, -11.01) is down 1.9% as it underperforms the broader market. Gun maker stocks are outperforming. Sturm, Ruger & Co (RGR 45.84, +1.20) is higher by 2.7% and Smith & Wesson (SWHC 10.16, +0.70) is higher by 7.2%.DJ30 -165.61 NASDAQ -36.18 SP500 -18.25 NASDAQ Adv/Vol/Dec 349/209.1 mln/1823 NYSE Adv/Vol/Dec 423/102.8 mln/2354

09:17 am : [BRIEFING.COM] S&P futures vs fair value: -13.60. Nasdaq futures vs fair value: -29.00. Heading into the open, equity futures are down 1.1% as they point to a lower start to the session.

Mega-cap technology stocks are seeing pre-market weakness. Apple (AAPL 573.50, -6.69) and Google (GOOG 673.59, -8.13) are both lower by 1.2%.

Financial stocks are also underperforming. Bank of America (BAC 9.64, -0.30) and Citigroup (C 37.55, -0.92) are down 3.1% and 2.4% respectively.

The September consumer credit report will be released at 15:00 ET.

The U.S. Treasury will auction off $24 billion in 10-yr notes.

09:02 am : [BRIEFING.COM] S&P futures vs fair value: -12.60. Nasdaq futures vs fair value: -28.00. U.S. Equity futures continue to trade near their lows and the S&P 500 futures are down 1.0%.

European markets opened higher, but were unable to hold their early gains. The declines coincided with the euro falling to its lowest level against the dollar in nearly two months as the pair currently trades near 1.2750. One of the factors contributing to the bearish sentiment was the recently released Eurozone Autumn Forecast, which pointed to an expected slowdown in the German economy. In addition, Spain and Germany reported disappointing industrial production figures. In Spain, the reading showed a 7.0% year-over-year drop, while a 3.6% decline was expected. Meanwhile, German industrial output decreased by 1.8% month-over-month, while expectations called for a 0.5% dip. With the U.S. election in the rear-view mirror, attention turns back to Europe where Greece is set to vote on austerity measures today. It should be noted that protests in Athens are intensifying. In addition, the European Central Bank and Bank of England will hold policy meetings tomorrow.

In the United Kingdom, the FTSE is off by 0.2% and miners are seeing weakness. Randgold Resources is down 3.6% after reporting revenue below analyst expectations. Eurasian Natural Resources and Anglo American are seeing respective losses of 2.5% and 1.6%. Publisher Pearson is higher by 1.5% after the company was said to be considering the sale of Financial Times.

Germany's DAX is lower by 0.6%. Infineon Technologies is leading the decline as the stock trades lower by 4.6%. On the upside, carmaker BMW is advancing 1.3%.

In France, the CAC is down 0.8% and technology is also weighing on the index. STMicroelectronics is the biggest decliner, down 4.3%. Utility provider Veolia Environnement is outperforming with a gain of 5.6% after announcing a bond buyback.

The major Asian averages ended mixed following word President Obama would see a second term in the White House. Early selling pressure abated following word of an Obama victory, and the major indices saw some late session buying. Attention now turns to mainland China where the Party Congress begins its leadership handoff. There was no data from the region.

In Japan, the Nikkei closed unchanged as markets rallied off their lows on word of President Obama's victory. Nissan Motor jumped 4.1% and Sumitomo Metal Mining gained 6.2% after both companies cut their guidance less than expected.

Hong Kong's Hang Seng finished higher by 0.7% as real estate stocks continued their recent outperformance. Sino land and Sun Hung Kai Properties added 2.6% and 2.1% respectively as speculation over easing rules bolstered shares.

In China, the Shanghai Composite settled unchanged as miners outperformed. Jiangxi Copper rallied 1.2% and Shangdong Gold jumped 3.4%. Real estate names were weak with China Vanke and Poly Real Estate both losing close to 1.5%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: -10.30. Nasdaq futures vs fair value: -23.50. Equity futures continue to trade near their pre-market lows, and the S&P 500 futures are down 0.8%.

Looking at this morning's earnings, Kraft Foods (KRFT 45.25, +0.55) is higher by 1.2% after beating on the bottom line. During the third quarter the food producer earned $0.79, which was $0.10 better than the Capital IQ consensus estimate. Meanwhile, the company's revenue was reported at $4.61 billion, representing a 3.0% year-over-year increase. In addition, Kraft reaffirmed its full-year 2013 guidance.

Elsewhere, WellPoint (WLP 59.19, -2.01) is slipping 3.3% after the health benefits company reported mixed earnings. WLP earned $2.09, which was $0.25 better than the Capital IQ consensus estimate. However, the company's revenue of $15.13 billion was reported below expectations. Following the earnings release, Bank of America/Merrill Lynch downgraded the stock to ‘underperform' from ‘buy.'

Lastly, Macy's (M 41.90, +0.52) is adding 1.3% after beating on earnings. The company's outlook, however, was a point of concern as the multiline retailer expects fourth quarter earnings below consensus.

08:03 am : [BRIEFING.COM] S&P futures vs fair value: -8.80. Nasdaq futures vs fair value: -19.80. After showing early gains, U.S. equity futures have weakened and are now firmly lower after Barack Obama was reelected to a second term as President. The S&P 500 futures are lower by 0.8%.

Overnight, the global markets were focused on the outcome of the presidential election. As the results began rolling in, equity futures and Asian markets were all in negative territory, until it was clear that Mr. Obama would indeed be reelected. Markets began to respond favorably and the S&P 500 futures recovered from being down nearly 1.0%. Likewise, bond yields came in, commodities caught a bid, and the dollar weakened as it became clear status quo would be preserved. In Asia, Japan's Nikkei and China's Shanghai Composite finished unchanged while Hong Kong's Hang Seng gained 0.7%.

Futures were unable to hold their gains through the overnight session, and began deteriorating shortly after the European markets opened. This coincided with the euro falling to its lowest level against the dollar in nearly two months as the pair currently trades near 1.2760. In addition, Spain and Germany reported disappointing industrial production figures. In Spain, the reading showed a 7.0% year-over-year drop, while a 3.6% decline was expected. Meanwhile, German industrial output decreased by 1.8% month-over-month, while expectations called for a 0.5% dip. Also of note, the Eurozone Autumn Forecast was released, and the report points to an expected slowdown in the German economy. With the U.S. election in the rear-view mirror, attention turns back to Europe where Greece is set to vote on austerity measures today. It should be noted that protests in Athens are intensifying. In addition, the European Central Bank and Bank of England will hold policy meetings tomorrow. European indices have given up their early gains as markets near midday. Germany's DAX, France's CAC, and UK's FTSE are all down near 0.3%.

In U.S. corporate news, News Corp (NWSA 24.80, +0.52) is higher by 2.1% after beating on earnings. During the first quarter, the media company earned $0.43 on $8.14 billion in revenue. The company's bottom line exceeded the Capital IQ consensus estimate by $0.05, while the revenue was in-line with expectations. Randgold Resources (GOLD 114.13, -7.33) is sliding 6.0% after reporting revenue of $319.9 million, which was roughly $59 million short of analyst expectations.

The weekly MBA Mortgage Index showed a 5.0% decrease in new applications. This follows prior week's decline of 4.8%.

Today's only remaining data point is the September consumer credit report, which will be released at 15:00 ET.

The U.S. Treasury will auction off $24 billion in 10-yr notes.

06:33 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +1.50.

06:33 am : Nikkei...8972.89...-2.30...0.00. Hang Seng...22099.85...+155.40...+0.70%.

06:33 am : FTSE...5911.18...+26.30...+0.50%. DAX...7412.27...+34.50...+0.50%.

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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