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 Post subject: November 26th Monday TF, 6E & CL Futures $330
PostPosted: Tue Nov 27, 2012 7:21 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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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 @ $330.00 dollars or +3.30 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 @ $330.00 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=1376

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 while using 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 trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone.

U.S. Market Wrap

Nov. 26 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks fell, following the Standard & Poor’s 500 Index’s biggest weekly gain since June, as lawmakers prepared to debate the so-called fiscal cliff and euro-area finance ministers discuss Greek aid.

Stocks: Investors Cautious Amid Fiscal Cliff Concerns

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

NEW YORK (CNNMoney) -- U.S. stocks ended mixed Monday as investors kept one eye on the results of the start of the holiday shopping season, and the other on upcoming economic negotiations in Washington and Europe.

In the first full trading day since last Wednesday, the Dow Jones industrial average dropped 42 points, or 0.3%, and the S&P 500 slipped 0.2%. The Nasdaq composite managed to turn higher in afternoon training, rising 0.3%, buoyed by strength in tech shares.

eBay (EBAY, Fortune 500) shares rallied almost 5%, making it one of the best performers in the tech-heavy Nasdaq. The company said its PayPal unit enjoyed a 193% increase in mobile payment volume on Black Friday from a year earlier.

Apple (AAPL, Fortune 500) shares rose more than 3%. Facebook (FB) shares spiked after analysts upgraded the stock, and Yahoo (YHOO, Fortune 500) shares also rose after an upgrade from Goldman Sachs.

* Fear & Greed Index

Investors were also looking again at the fiscal cliff. Congress is back in session, and lawmakers will be under pressure to reach a deal with the White House before the end of the year.

Following the first post-election meeting between the White House and congressional leaders almost two weeks ago, lawmakers seemed optimistic that they would strike a deal ahead of the New Year. But market experts are doubtful that a quick agreement can be reached.

"We were always skeptical and the weekend talk shows support our view that there has been little progress from initial positions," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman. "It is in the interest of both sides to take this to the wire, or a little more. Both sides have to make concessions and to do so before the last possible minute is understood as a sign of weakness to one's own base."

Meanwhile, European stocks closed in the red as eurozone finance ministers met for the third time to discuss the latest release of bailout funds for Greece. London's FTSE fell 0.6%, the CAC 40 in Paris slid 0.8%, and the German DAX slipped 0.2%

"There are no assurances that today's meeting will succeed where the previous two have failed," said Chandler.

If there is no final decision at the conclusion of the day's meeting, attention will turn to the next regular Eurogroup meeting scheduled for December 3.

Also in Europe, the Bank of England named Canadian central bank chief Mark Carney its next governor, taking the reins from outgoing Governor Mervyn King, which was a surprise move.

In another leadership change, Securities and Exchange Commission chairman Mary Schapiro announced she would be stepping down from her position, as expected, in mid-December. President Obama named Elisse Walter, who has been an SEC commissioner since 2008, as Schapiro's replacement.

Asian markets ended mixed. The Shanghai Composite lost 0.5% and the Hang Seng in Hong Kong slid 0.2%, while Japan's Nikkei added 0.2%.

Companies: Shares of Knight Capital (KCG) jumped on reports that the broker is weighing a sale. An August trading glitch at Knight cost the company more than $400 million.

Research in Motion (RIMM) shares gained ground, as investors are hopeful the BlackBerry 10, debuting Jan. 30, will signal a turnaround for the company. A bullish analyst report triggered a rally Friday, with the stock rising 14%.

Shares of McGraw-Hill (MHP, Fortune 500) rose after the company, which owns Standard and Poor's, announced that it is selling its education arm, McGraw-Hill Education, to private equity firm Apollo Global Management for $2.5 billion.

Currencies and commodities: The dollar gained on the euro and the British pound but lost ground versus the Japanese yen.

Oil for January delivery slipped 54 cents to settle at $87.74 a barrel.

Gold futures for December delivery lost $1.80 to settle at $1,749.60 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, pushing the yield down to 1.67% from 1.69% Friday.

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Market Update

4:15 pm : Equities began the week on a cautious note as uncertainty crept back into the markets. Overseas, the Eurogroup continues to discuss the next tranche of Greek aid. Reports from the talks indicate lawmakers remain split over whether or not haircuts should be applied to the outstanding Greek debt. Additionally, elections in the Spanish region of Catalonia resulted in two-thirds of the vote going to parties which support a referendum on independence. The European news combined with some profit-taking following Friday's rally translated into a downbeat session which saw the S&P 500 slip 0.2%.

The telecom space was the biggest laggard as traders rotated out of high-dividend stocks. The sector is likely to see further weakness until a fiscal cliff resolution is agreed upon. Even if a timely compromise is reached, it remains to be seen what impact the agreement will have on high-yielding stocks. Today, AT&T (T 33.97, -0.39) and Verizon (VZ 43.30, -0.36), which generate respective yields of 5.2% and 4.7%, both lost near 1.1%.

Retailers succumbed to the broad market pressure, and the SPDR S&P 500 Retail ETF (XRT 62.59, -0.61) slid 1.0%. An earlier story by MarketWatch pointed to a 1.8% decrease in Black Friday sales despite a 3.5% uptick in foot traffic. However, it should be noted that two major retailers, Target (TGT 62.77, -1.70) and Wal-Mart (WMT 69.91, -0.29) were closed last year, but opened on Thursday evening this year. Because of this, a portion of sales which would have counted towards Friday's total, were registered on Thursday evening.

The weakness was visible across all retailers as no particular group bore sole responsibility for the decline. Grocery store operators SUPERVALU (SVU 2.63, -0.08) and Safeway (SWY 16.41, -0.55) saw seeing respective losses of 3.0% and 3.2%. Looking at apparel retailers, Macy's (M 39.86, -1.87) lost 4.5% and Aeropostale (ARO 13.77, -0.68) ended lower by 4.7% after Janney Montgomery Scott downgraded the stock to ‘neutral' from ‘buy.'

Last week, the SPDR Financial Select Sector ETF (XLF 15.78, -0.06) gained over 4.0% after a brief test of its 200-day moving average in the $15.08 area. Today, the ETF proxy for financial stocks shed 0.4% and most majors underperformed. Wells Fargo (WFC 32.90, -0.30) and Citigroup (C 35.57, -0.46) were among the biggest laggards as the two lost 0.9% and 1.3%, respectively. Meanwhile, Goldman Sachs (GS 120.94, +0.63) and Morgan Stanley (MS 16.61, +0.18) registered gains and outperformed their peers.

Elsewhere, European financials also saw relative weakness. Deutsche Bank (DB 43.30, -0.57) and Barclays (BCS 15.51, -0.77) lost 1.3% and 4.7%, respectively. Barclays slumped after Qatar Holdings, LLC sold the remainder of the bank's warrants held since the onset of the financial crisis. As a result of the sale, a $1.19 billion Barclays stock offering was triggered. In addition, the Financial Times indicated some investors are calling on management to split up the company.

The utilities sector fell over 7.0% in the aftermath of Superstorm Sandy. Today, the space led the broader market with a gain of 1.3%. Exelon (EXC 29.32, +0.75) gained 2.6% after Deutsche Bank upgraded the stock to ‘buy' from ‘hold.' Looking at other electric utilities, FirstEnergy (FE 41.77, +0.70) rose by 1.7% and PPL Corporation (PPL 28.44, +0.36) added 1.3%.

Technology stocks also managed close in the black. Shares of Apple (AAPL 589.53, +18.03) settled higher by 3.2% as the stock remains in focus after tumbling nearly 20% from its all-time high of $705.07. Earlier, Citigroup initiated coverage of the stock with a ‘buy' rating and a $675 price target.

In other analyst action, Facebook (FB 25.94, +1.94) surged 8.1% after BTIG upgraded the stock to ‘neutral' from ‘sell.'

Also of note, 3D Systems (DDD 46.55, +4.81) spiked 11.5% after unveiling the next generation of its ProJet 3D printers.

Looking at tomorrow's economic data, October durable orders and durable orders ex-transportation will be reported at 8:30 ET. In addition, the September Case-Shiller 20-city Index will be released at 9:00 ET. Lastly, November consumer confidence and September FHFA Housing Price Index will both hit the wires at 10:00 ET.DJ30 -42.31 NASDAQ +9.93 SP500 -2.86 NASDAQ Adv/Vol/Dec 1338/1.54 bln/1124 NYSE Adv/Vol/Dec 1309/633.1 mln/1725

3:30 pm : A slightly higher dollar index and concerns over the U.S. budget and the Greek debt crisis put pressure on crude oil during today's pit trade. The energy component dipped as low as $87.27 per barrel in late morning pit action. Despite inching slightly higher for the remainder of the session, it settled with a 0.6% loss at $87.72 per barrel.

Natural gas traded in negative territory in a fairly consolidative pattern near the $3.74 per MMBtu level. It eventually closed with a 4.4% loss at $3.73 per MMBtu.

Precious metals chopped around in negative territory for most of floor trade as the slightly higher dollar index put pressure on prices. Gold eased off its session high of $1752.30 per ounce and dipped to a session low of $1746.90 per ounce. It ultimately erased most of the loss as it settled just 0.1% lower at $1749.60 per ounce.

Silver brushed a session low of $33.93 per ounce but closed with a one cent gain at $34.13 per ounce after inching higher in afternoon pit action.DJ30 -59.36 NASDAQ +5.37 SP500 5.21 NASDAQ Adv/Vol/Dec 1170/1251.4 mln/1274 NYSE Adv/Vol/Dec 1087/398 mln/1940

3:00 pm : The S&P 500 is off by 0.3% as trade enters the final hour.

Only a handful of companies are scheduled to report their earnings between today's close and tomorrow's open. Manufacturer of recreational vehicles, Thor (THO 43.00, +0.28), will report its quarterly results after the end of today's session. The Capital IQ consensus expects the company to report earnings of $0.63 on revenue of $876.80 million.

Ahead of tomorrow's open, ADT (ADT 42.90, +0.04) and Ralcorp Holdings (RAH 70.27, -1.15) will report their earnings. Security provider ADT is expected to announce $0.44 in earnings on revenue of $819.85 million. Meanwhile, forecasts call for Ralcorp Holding to reveal earnings of $0.86 on $1.1 billion in revenue.DJ30 -57.50 NASDAQ +5.92 SP500 -4.78 NASDAQ Adv/Vol/Dec 1160/1.15 bln/1264 NYSE Adv/Vol/Dec 1042/365.5 mln/1971

2:30 pm : The major averages are holding their recent levels and the S&P 500 is off by 0.5%.

Last week, the SPDR Financial Select Sector ETF (XLF 15.72, -0.12) gained over 4.0% after a brief test of its 200-day moving average in the $15.08 area. Today, the ETF proxy for financial stocks is shedding 0.7% as most majors underperform. Wells Fargo (WFC 32.73, -0.46) and Citigroup (C 35.52, -0.50) are among notable laggards as the two trade lower by 1.3%. Meanwhile, Goldman Sachs (GS 120.44, +0.13) and Morgan Stanley (MS 16.46, +0.03) are registering fractional gains as they outperform their peers.

Elsewhere, European financials are also seeing relative weakness. Deutsche Bank (DB 43.12, -0.75) and Barclays (BCS 15.40, -0.88) are down 1.7% and 5.4%, respectively. Barclays is slumping after Qatar Holdings, LLC sold the remainder of the bank's warrants held since the onset of the financial crisis. As a result of the sale, a $1.19 billion Barclays stock offering was triggered. In addition, Financial Times indicated some investors are calling on the management to split up the company.DJ30 -78.11 NASDAQ -0.15 SP500 -7.09 NASDAQ Adv/Vol/Dec 1095/1.05 bln/1313 NYSE Adv/Vol/Dec 949/335.3 mln/2050

2:00 pm : The major averages are mixed. The S&P 500 is slipping 0.5% while Nasdaq is registering fractional gains.

Homebuilder stocks are broadly weaker and the SPDR Homebuilders ETF (XHB 26.17, -0.20) is off by 0.8%. Since the start of November, the space has shown high sensitivity to broad market moves. The ETF led the market lower in the week following the presidential election, but it was able to recover the bulk of its losses during last week's rally which resulted in an 8.5% gain. Among individual builders, Lennar (LEN 38.47, -0.21) is down 0.5% and Standard Pacific (SPF 6.80, -0.16) is sliding 2.3%.DJ30 -80.49 NASDAQ +0.5 SP500 -7.53 NASDAQ Adv/Vol/Dec 1068/994.3 mln/1324 NYSE Adv/Vol/Dec 937/313.8 mln/2077

1:35 pm : The Dow is off by 0.5% as it continues to climb off its session low.

The Dow Jones Transportation Average is higher by 0.4% and railroad stocks are some of the top gainers. Kansas City Southern (KSU 79.18, +1.57) is advancing 2.0% while CSX (CSX 19.92, +0.21) and Norfolk Southern (NSC 58.24, +0.48) are both adding near 1.0%.

Meanwhile, JetBlue Airways (JBLU 5.04, -0.06) is the biggest laggard as it trades lower by 1.1%.DJ30 -64.35 NASDAQ +2.36 SP500 -5.64 NASDAQ Adv/Vol/Dec 1128/926.5 mln/1255 NYSE Adv/Vol/Dec 1022/291.7 mln/1974

1:10 pm : Equities began the week on a lower note as European worries returned to the forefront. Cautious trade is taking hold as the Eurogroup continues to discuss the next tranche of Greek aid. In addition, as a result of Spanish regional elections in Catalonia, parties which support holding a referendum on independence took over 60% of the vote. Domestically, investors are looking to Washington for hints of progress in the budget debate aimed at avoiding going over the fiscal cliff. At midday, the S&P 500 is down 0.5% as it trades just above the 1400 level.

The telecom space is the biggest laggard as traders rotate out of high-dividend stocks. The sector is likely to see further weakness until a fiscal cliff resolution is agreed upon. Even if a timely compromise is reached, it remains to be seen what impact the agreement will have on high-yielding stocks. Today, AT&T (T 34.00, -0.36) and Verizon (VZ 43.40, -0.36), which generate respective yields of 5.2% and 4.7%, are both down near 1.0%.

As crude oil trades lower by 0.7%, the energy sector is a notable decliner. Looking at major energy stocks, Exxon Mobil (XOM 88.42, -0.67), Chevron (CVX 104.73, -0.74), and ConocoPhillips (COP 56.42, -0.24) are all down between 0.5% and 0.8%. Earlier, ConocoPhillips announced its intention to sell its interest in the North Caspian Sea production sharing agreement for approximately $5 billion.

Elsewhere, coal stocks remain under pressure. The Market Vectors Coal ETF (KOL 23.64, -0.21) is sliding 0.9%. Among individual coal stocks, Alpha Natural Resources (ANR 7.17, -0.11) is shedding 1.5% and Arch Coal (ACI 6.41, -0.20) is slipping 3.1%.

Retailers are succumbing to the broad market pressure as the SPDR S&P 500 Retail ETF (XRT 62.28, -0.91) trades lower by 1.5%. The weakness is visible across all retailers as no particular group bears sole responsibility for the decline. Grocery store operators SUPERVALU (SVU 2.60, -0.11) and Safeway (SWY 16.38, -0.57) are seeing respective losses of 4.1% and 3.4%. Looking at apparel retailers, Macy's (M 40.20, -1.53) is down 3.7% and Aeropostale (ARO 13.45, -1.00) is sliding 6.9% after Janney Montgomery Scott downgraded the stock to ‘neutral' from ‘buy.'

The utilities sector fell over 7.0% in the aftermath of Superstorm Sandy. Today, the space is leading the broader market and electricity providers are seeing strength. Exelon (EXC 29.43, +0.86) is higher by 3.0% after Deutsche Bank upgraded the stock to ‘buy' from ‘hold.' Looking at other electric utilities, FirstEnergy (FE 41.73, +0.66) is rising by 1.7% and PPL Corporation (PPL 28.36, +0.28) is adding 1.0%.

Technology stocks are also seeing relative strength. Shares of Apple (AAPL 587.72, +16.22) are higher by 2.9% as the stock remains in focus after tumbling nearly 20% from its all-time high of $705.07. Earlier, Citigroup initiated coverage of the stock with a ‘buy' rating and a $675 price target.

In other analyst action, Facebook (FB 25.89, +1.89) is surging 7.9% after BTIG upgraded the stock to ‘neutral' from ‘sell.'

Also of note, 3D Systems (DDD 46.46, +4.72) is spiking 11.2% after unveiling the next generation of its ProJet 3D printers.DJ30 -68.57 NASDAQ -0.76 SP500 -6.36 NASDAQ Adv/Vol/Dec 1055/855.5 mln/1317 NYSE Adv/Vol/Dec 970/269.9 mln/2025

12:35 pm : The major averages are holding their recent levels and the S&P 500 is off by 0.6%.

Retailers are succumbing to the broad market pressure as the SPDR S&P 500 Retail ETF (XRT 62.42, -0.78) trades lower by 1.2%. An earlier story by MarketWatch pointed to a 1.8% decrease in Black Friday sales despite a 3.5% uptick in foot traffic. However, it should be noted that major retailers Target (TGT 63.11, -1.37) and Wal-Mart (WMT 69.74, -0.46) were closed last year, but opened on Thursday evening this year. Because of this, many sales which would have counted towards Friday's total, were registered on Thursday evening.


The weakness is visible across all retailers as no particular group bears sole responsibility for the decline. Grocery store operators SUPERVALU (SVU 2.60, -0.11) and Safeway (SWY 16.33, -0.63) are seeing respective losses of 4.1% and 3.7%. Looking at apparel retailers, Macy's (M 40.20, -1.53) is down 3.7% and Aeropostale (ARO 13.56, -0.88) is sliding 6.2% after Janney Montgomery Scott downgraded the stock to ‘neutral' from ‘buy.'DJ30 -97.72 NASDAQ -6.05 SP500 -9.40 NASDAQ Adv/Vol/Dec 1016/773.7 mln/1342 NYSE Adv/Vol/Dec 907/242.7 mln/2072

12:00 pm : The S&P 500 is down 0.6% as it trades just above the 1400 level.

The telecom space is a notable underperformer as investors rotate out of high-dividend stocks. The sector is likely to see further weakness until a fiscal cliff resolution is agreed upon. Even if a timely compromise is reached by the nation's lawmakers, it remains to be seen what impact the agreement will have on high-yielding stocks. Today, AT&T (T 33.92, -0.44) and Verizon (VZ 43.31, -0.45), which generate respective yields of 5.2% and 4.7%, are both down near 1.0%.DJ30 -84.47 NASDAQ -5.63 SP500 -8.07 NASDAQ Adv/Vol/Dec 978/688.1 mln/1371 NYSE Adv/Vol/Dec 914/218.9 mln/2021

11:30 am : The S&P 500 is down 0.7% after marking a fresh session low.

As crude oil trades lower by 1.0%, the energy sector is seeing comparable weakness. Looking at major energy stocks, Exxon Mobil (XOM 88.20, -0.89), Chevron (CVX 104.40, -1.07), and ConocoPhillips (COP 56.06, -0.61) are all down near 1.0%. Earlier, ConocoPhillips announced its intention to sell its interest in the North Caspian Sea production sharing agreement for approximately $5 billion.

Elsewhere, coal stocks remain under pressure. The Market Vectors Coal ETF (KOL 23.52, -0.33) is sliding 1.4%. Among individual coal stocks, Alpha Natural Resources (ANR 7.17, -0.10) is shedding 1.4% and Arch Coal (ACI 6.35, -0.27) is slipping 4.1%.DJ30 -102.71 NASDAQ -11.66 SP500 -10.19 NASDAQ Adv/Vol/Dec 919/607.9 mln/1391 NYSE Adv/Vol/Dec 857/196.8 mln/2072

11:00 am : The S&P 500 and Dow are hovering near their respective lows. However, the Nasdaq continues to outperform as it trades lower by 0.3%.

Technology stocks are outperforming the broader market. Shares of Apple (AAPL 578.42, +6.92) are higher by 1.2% as the stock remains in focus after surrendering nearly 20% from its all-time high of $705.07. Earlier, Citigroup initiated coverage of the stock with a ‘buy' rating and a $675 price target.

In other analyst action, Facebook (FB 25.76, +1.76) is surging 7.3% after BTIG upgraded the stock to ‘neutral' from ‘sell.'

Elsewhere, semiconductor manufacturers are also seeing strength. The PHLX Semiconductor index is higher by 0.2% and Marvell Technology (MRVL 8.18, +0.11) is the top performer within the 30-stock index, up 1.4%.

Also of note, 3D Systems (DDD 45.44, +3.70) is spiking 8.9% after unveiling the next generation of its ProJet 3D printers.DJ30 -82.78 NASDAQ -6.59 SP500 -8.17 NASDAQ Adv/Vol/Dec 977/501.5 mln/1292 NYSE Adv/Vol/Dec 926/164.1 mln/1955

10:30 am : Commodities are lower this morning, while the dollar index remains in positive territory. Precious metals just staged a small sell-off, causing silver to pull back below the $34 area.

Crude oil and natural gas has been in the red all session so far. Jan crude oil hit a new session low of $87.35 an hour ago and is now -0.8% at $87.54/barrel. Natural gas futures sold off earlier this morning, at 7am EST, dropping sharply to a new session low. Currently, Dec nat gas is -4.15 at $3.74/MMBtu.

Precious metals remains lower here following this recent sell-off. In current trade, Dec gold is -0.2% at $1748.10/oz and Dec silver is -0.3% at $34.03/oz. Dec copper is currently flat at $3.53/lb.DJ30 -66.21 NASDAQ -5.42 SP500 -6.44 NASDAQ Adv/Vol/Dec 976/379.8 mln/1232 NYSE Adv/Vol/Dec 986/132 mln/1842

10:00 am : The S&P 500 and Dow continue to trade near their respective lows. Meanwhile, the Nasdaq is showing little change as it outperforms.

The utilities sector has seen considerable weakness in the aftermath of Superstorm Sandy, losing more than 7.0%. Today, the space is outperforming the broader market and electricity providers are seeing strength. Exelon (EXC 29.34, +0.77) is higher by 2.7% after Deutsche Bank upgraded the stock to ‘buy' from ‘hold.' Looking at other electric utilities, FirstEnergy (FE 41.65, +0.58) is rising by 1.4% and PPL Corporation (PPL 28.33, +0.25) is adding 1.2%.DJ30 -61.69 NASDAQ -1.61 SP500 -5.53 NASDAQ Adv/Vol/Dec 951/248.1 mln/1190 NYSE Adv/Vol/Dec 1042/94.1 mln/1704

09:45 am : The first fifteen minutes of action saw an extension of the bearish pre-market sentiment. The S&P 500 is lower by 0.5% while the Nasdaq is outperforming, down 0.1%.

Cautious trade appears to be taking hold as focus returns to Greek debt negotiations. Domestically, investors are looking to Washington after weekend reports indicated little progress has been made since negotiations began ten days ago.

Looking at the early sector alignment, only utility stocks are trading in the black. The space is higher by 0.6% as it attempts to rebound from recent weakness. Meanwhile, telecoms, energy, and health care are underperforming the broader market.DJ30 -68.12 NASDAQ -1.07 SP500 -6.10 NASDAQ Adv/Vol/Dec 923/154.9 mln/1172 NYSE Adv/Vol/Dec 1034/71.2 mln/1622

09:19 am : [BRIEFING.COM] S&P futures vs fair value: -7.00. Nasdaq futures vs fair value: -5.80. As the U.S. open approaches, equity futures remain in the red. The S&P 500 futures are lower by 0.4% while Nasdaq futures are off by 0.1%.

Major financials are seeing pre-market weakness as Bank of America (BAC 9.85, -0.05), Citigroup (C 35.79, -0.24), and Morgan Stanley (MS 16.32, -0.11) all see losses near 0.7%.

In addition, producers of materials are also under pressure. Cliffs Natural Resources (CLF 31.05, -0.18) and United States Steel (X 21.45, -0.19) are down 0.6% and 0.9%, respectively.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: -6.70. Nasdaq futures vs fair value: -7.30. U.S. equity futures continue to trade lower and the S&P 500 futures are off by 0.3%.

In Europe, the major averages are giving back some of their Friday gains. Over the weekend, Catalonia held regional elections. As a result, nearly two thirds of all votes went to parties which support a referendum on secession. It remains to be seen how the election will impact any potential bailout for the troubled sovereign. Elsewhere, a report out of Germany indicated the Eurozone finance ministers are considering a haircut for Greek bondholders that could reduce the country's 2015 Debt-to-GDP target ratio to 70%, down from 120%. In economic data, Germany's GfK Consumer Climate was reported at 5.9, which was worse than the broadly expected 6.2. Also of note, Italian consumer confidence of 84.8 fell short of the expected reading of 86.5.

Germany's DAX is off by 0.3%. Steelmaker ThyssenKrupp is sliding 5.5% after reports indicated the company will delay the sale of its Americas unit until next year. Meanwhile, airline Deutsche Lufthansa is rising by 1.4% after Espirito Santo upgraded the stock to ‘buy.'

In the United Kingdom, the FTSE is lower by 0.7% and Barclays is the worst performer within the index. The financial is down 4.8% after Qatar Holdings LLC sold the remainder of the Barclays warrants held since the onset of the financial crisis. As a result of the sale, a $1.19 billion stock offering by Barclays was triggered. On the upside, utilities are outperforming. Pennon Group is higher by 0.6% and National Grid is adding 0.4%.

France's CAC is sliding 0.9% and industrials are seeing weakness. Lafarge and Schneider Electric are both down near 2.6%. The instability in Egypt is weighing on Lafarge as the company generates nearly a quarter of its revenue from the Middle East and Africa. Among the advancers, Alcatel-Lucent is higher by 1.0% as it attempts to lift off multi-year lows.

The major Asian bourses ended mixed as traders remained cautious ahead of today's EU finance ministers meeting in Brussels. The latest Bank of Japan monetary policy minutes were released, suggesting the central bank may need to implement more easing to lift the country out of the deflationary stranglehold that has held for the past two decades-plus. Over the weekend, Indian officials vowed to cut the country's deficit and to cap debt in an effort to avoid a sovereign downgrade to junk. Data out overnight was quiet with Singapore's industrial production falling short of estimates (-2.1% year-over-year actual v. -1.0% expected).

In Japan, the Nikkei added 0.2%, playing catch up after Friday's closure for Labor Thanksgiving Day. Exporters remained strong with Toyota Motor and Canon both adding close to 2.0%. Meanwhile, both Sony and Panasonic fell 1.2% after Fitch cut their ratings to ‘junk' on Friday.

Hong Kong's Hang Seng shed 0.2% as trade slipped from a two-month high. Telecom stocks showed broad weakness with China Unicom, and China Telecom falling 0.5% and 1.8%, respectively.

In China, the Shanghai Composite settled lower by 0.5% as growth concerns weighed on economically sensitive names. Coal-based energy company, China Shenhua Energy, slid 0.6% on the concerns. Elsewhere, spirit maker Jiugui Liquor tumbled the daily limit 10% for a second straight session after a contamination scare. Rivals Wuliangye and Kweichow Moutai both fell 2.1% in related moves.

08:29 am : [BRIEFING.COM] S&P futures vs fair value: -8.50. Nasdaq futures vs fair value: -11.00. Equity futures continue to trade near their pre-market lows and the S&P 500 futures are off by 0.5%.

Looking at pre-market movers, Knight Capital Group (KCG 2.90, +0.42) is rising by 16.9% after Reuters reports indicated the company is in talks for sale of its market-making unit. In addition, Keefe Bruyette upgraded the stock to ‘market perform' from ‘underperform.'

Elsewhere, Deckers Outdoor (DECK 34.43, +1.35) is advancing 4.1% after Bloomberg discussed the company as a potential takeover target due to its attractive valuation.

Lastly, Sequenom (SQNM 4.41, +0.12) is higher by 2.8% after Stephens upgraded the stock to ‘overweight' with an $8 target.

08:02 am : [BRIEFING.COM] S&P futures vs fair value: -7.90. Nasdaq futures vs fair value: -10.80. U.S. equity futures are modestly lower amid downbeat overseas trade.

Overnight, the global equity markets were mostly lower. In Japan, the Nikkei outperformed with a slim gain of 0.2%. The relative strength was partially due to the recently released Bank of Japan minutes, which indicated the central bank is considering further stimulus. Other regional indices were less bullish. Hong Kong's Hang Seng slipped 0.2% and China's Shanghai Composite finished lower by 0.5%. Morgan Stanley updated its forecast for Chinese economy as it now expects 2013 GDP growth of 8.2% for 2013.

In Europe, the major averages are giving back some of their Friday gains. Over the weekend, Catalonia held regional elections. As a result, nearly two thirds of all votes went to parties which support a referendum on secession. It remains to be seen how the election will impact any potential bailout for the troubled sovereign. Elsewhere, a report out of Germany is indicating the Eurozone finance ministers are considering a haircut for Greek bondholders that could reduce the country's 2015 Debt-to-GDP target ratio to 70%, down from 120%. In economic data, Germany's GfK Consumer Climate was reported at 5.9, which was worse than the broadly expected 6.2. Also of note, Italian consumer confidence of 84.8 fell short of the expected reading of 86.5. Looking at regional indices as they near midday, France's CAC is sliding 0.9%, UK's FTSE is down 0.6%, and Germany's DAX is shedding 0.3%.

In U.S. corporate news, Yahoo! (YHOO 18.98, +0.41) is higher by 2.2% after Goldman added the stock to its conviction buy list with a $24 price target. The investment bank cited improvement to the company's capital position as a catalyst for revaluation.

DreamWorks Animation (DWA 17.30, -0.75) is sliding 4.2% after "Rise of the Guardians" disappointed at the box office, bringing in only $32.4 million in weekend sales.

There is no economic data scheduled to be released today.

06:43 am : [BRIEFING.COM] S&P futures vs fair value: -6.50. Nasdaq futures vs fair value: -9.00.

06:43 am : Nikkei...9388.94...+22.10...+0.20%. Hang Seng...21861.81...-52.20...-0.20%.

06:43 am : FTSE...5794.79...-23.60...-0.40%. DAX...7290.58...-10.60...-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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