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 Post subject: December 11th Tuesday TF, 6E & CL Futures $440.00
PostPosted: Wed Dec 12, 2012 6:52 am 
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Joined: Sat Jan 10, 2009 1:06 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 @ $440.00 dollars or +4.40 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 @ $440.00 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=111&t=1389

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 and 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=197&t=1686

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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.

Stocks: Investors Betting On More Fed Stimulus

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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 higher Tuesday, as investors grew optimistic that the Federal Reserve may announce more stimulus measures when it wraps up its final meeting of the year.

The central bank will be deciding whether to continue Operation Twist, a stimulus program that is set to end this month. Expectations are rising for the Fed to announce another round of bond buying in place of the bond swapping program, said analysts at Wells Fargo Advisors.

The Dow Jones industrial average and the S&P 500 rose 0.6% and 0.7% respectively, while the Nasdaq gained more than 1%.

Meanwhile, investors continue to wait for a resolution to fiscal cliff negotiations in Washington.

Investors have been reluctant to place big bets before lawmakers reach a compromise on tax increases and spending cuts set to kick in automatically on Jan. 1. Without a deal, the U.S. economy could fall back into a recession.

* Federal Reserve may buy more bonds

"As has been the case since the elections, the main issue affecting U.S. markets remains the fiscal cliff," said Russ Koesterich, global chief investment strategist at BlackRock. "Although it is impossible to know exactly what is going on behind closed doors, on the surface, the two parties still seem quite far apart on the three main fiscal cliff issues."

Koesterich said the odds of going over the cliff are higher than what the market has priced in so far, which means there is heightened risk for a sell-off. Plus, even if a deal is reached before the end of the year, it will likely be only a "small, stopgap sort of agreement" that will still weigh on economic growth.

In other news, the Census Bureau reported that the trade deficit widened to $42.2 billion in October. A separate report showed that wholesale inventories rose 0.6% in October, better than forecasts.

* Forget the fiscal cliff, the economy is rebounding

On the corporate front, Delta Air Lines (DAL, Fortune 500) and Virgin Atlantic announced a new joint venture, which includes Delta buying the 49% stake in the British airline that is currently owned by Singapore Airline. Virgin Group and Sir Richard Branson will retain the majority 51% stake and Virgin Atlantic will maintain its brand. Delta shares closed up more than 5% on the news.

Share of TripAdvisor (TRIP) ended nearly 7% higher after media mogul Barry Diller stepped down as chairman of the travel website and sold his voting stake in the company to Liberty Interactive.

Discount retailer Dollar General (DG, Fortune 500) posted a higher-than-expected profit for the third quarter, and sales in line with forecasts, but shares of the company declined sharply on a weak outlook.

The Treasury Department will sell the last of its shares in bailed-out insurer AIG (AIG, Fortune 500) for $32.50 apiece, raising about $7.6 billion. Between the Fed and Treasury's combined $182 billion injection into AIG, the government enjoyed a profit of $22.7 billion.

HSBC (HBC) said early Tuesday it will pay $1.92 billion to resolve money-laundering allegations.

Europe is also in the spotlight after Italian Prime Minister Mario Monti unexpectedly announced plans over the weekend to step down once parliament passes a national budget later this month.

* Fear & Greed Index

European markets ended with gains, helped by a sharp rise in German investor sentiment in December. Greece is due to announce the results of a debt buyback later, triggering the disbursement of the next installment of its EU-IMF bailout funds.

Asian markets ended mixed, with the Nikkei and Shanghai Composite losing ground.

The dollar fell against the euro and the British pound, But gained versus the Japanese yen.

Oil prices for January delivery added 23 cents to $85.79 a barrel, while gold priced for February delivery fell slightly to $1,708.20.

The price on the 10-year Treasury fell, boosting the yield to 1.66% from 1.62% late Monday.

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Market Update

4:15 pm : Today's session was relatively quiet as the major averages followed an upbeat open with a climb to their respective highs. At noon, House Speaker John Boehner said he remains hopeful a budget deal will be reached, but first, Democrats and the President need to outline specific spending cuts. The comments had little effect on the markets as equities saw muted reaction, and continued holding at their best levels. However, 90 minutes before the close, Senate Majority Leader Harry Reid said Democrats do not plan to propose spending cuts, and that reaching a consensus before Christmas would be difficult. In response to Senator Reid's comments, the S&P 500 slipped from its highs, trimming its gain to 0.7%.

The technology sector was the top performer and the SPDR Technology Select Sector ETF (XLK 29.23, +0.39) finished higher by 1.4%. The largest tech component, Apple (AAPL 541.38, +11.56), rose by 2.2% in an attempt to halt its slide and establish support in the $550 area.

Texas Instruments (TXN 31.01, +1.19) advanced 4.0% despite narrowing its revenue guidance and trimming its earnings guidance to account for restructuring.

TripAdvisor (TRIP 40.91, +2.52) spiked 6.6% after Liberty Interactive (LINTA 18.95, -0.19) purchased 4.8 million TRIP shares for $62.50 per share. As a result of the transaction, Liberty Interactive will control a majority voting stake in TripAdvisor. Other online travel sites also gained on the news. Expedia (EXPE 59.99, +2.28) rose by 4.0% and Orbitz Worldwide (OWW 2.38, +0.06) added 2.6%.

The health care space was one of the top gainers and biotech companies contributed to the sector strength. Vertex Pharmaceuticals (VRTX 41.84, +1.59) and Gilead Sciences (GILD 76.34, +2.09) led biotech names and saw respective gains of 4.0% and 2.8%.

In acquisition news, Somaxon Pharmaceuticals (SOMX 2.65, +1.18) surged 80.3% after announcing it will be acquired by Pernix Therapeutics (PTX 7.65, -0.28). Per the agreement, Somaxon shareholders will receive $25 million in Pernix common stock.

Elsewhere, Hill-Rom Holdings (HRC 28.69, +0.62) advanced 2.2% after Goldman Sachs upgraded the stock to ‘Buy' from ‘Neutral.'

Financials traded largely in-line with the broader market until late afternoon comments from Senator Harry Reid indicated an agreement before Christmas is unlikely. Morgan Stanley (MS 17.75, +0.74) settled higher by 4.4% to lead the majors. Earlier reports indicated the company may file for regulatory approval in order to begin a share buyback program. Looking at other majors, Goldman Sachs (GS 118.86, +1.85) and JPMorgan Chase (JPM 42.64, +0.33) gained 1.6% and 0.8%, respectively.

Elsewhere, American International Group (AIG 35.26, +1.90) rallied 5.7% after confirming the U.S. Treasury will sell its remaining shares of AIG common stock.

The Dow Jones Transportation Average added 0.1% and airlines outperformed. Delta Air Lines (DAL 10.66, +0.52) was the top advancer within the bellwether complex. The air carrier gained 5.1% after confirming plans to invest $360 million in Virgin Atlantic. Following the investment, Delta will hold a 49% stake in Virgin Atlantic. Looking at other airlines, United Continental (UAL 21.71, +0.82) and Southwest Airlines (LUV 10.12, +0.28) finished higher by 3.9% and 2.9%, respectively.

In notable quarterly results, Dollar General (DG 42.94, -3.63) reported earnings of $0.63 on revenue of $3.96 billion. The company's bottom line was $0.03 ahead of the Capital IQ consensus, while its revenue met expectations. In addition to reporting an earnings beat, the retailer raised its full-year 2013 earnings guidance in-line with analyst estimates. However, its full-year 2013 revenue is expected to be near the low end of the previous range. Dollar General slid 7.8% in reaction to the results and peers Dollar Tree (DLTR 37.98, -1.46) and Family Dollar (FDO 64.68, -5.90) lost 3.7% and 8.4%, respectively.

The trade deficit widened to $42.2 billion during October after a downwardly revised prior month deficit of $40.3 billion. Economists polled by Briefing.com had expected that the deficit would come in at $42.8 billion.

October wholesale inventories increased by 0.6%, which was ahead of the 0.4% increase forecast by the Briefing.com consensus.

Looking at tomorrow's economic data, the weekly MBA Mortgage Index will be reported at 7:00 ET. Export prices ex-agriculture and import prices ex-oil will both be announced at 8:30 ET. At 12:30 ET, the Federal Open Market Committee will announce the Federal Funds Rate, and the statement will be followed by Ben Bernanke's press conference at 14:15 ET. Lastly, the U.S. Treasury will report its November budget at 14:00 ET.

The U.S. Treasury will hold a $21 billion 10-yr reopening.DJ30 +78.56 NASDAQ +35.34 SP500 +9.29 NASDAQ Adv/Vol/Dec 1767/1.81 bln/715 NYSE Adv/Vol/Dec 2052/693.3 mln/975

3:30 pm : Crude oil retreated from its session high of $85.95 per barrel and inched lower as reports indicated that OPEC was leaving 2013 demand forecasts for its own crude unchanged at 29.7 mln bpd and sees average demand in first half of 29.25 mln bpd. It fell below the breakeven level and to a session low of $85.21 per barrel in afternoon action. However, a rally heading into the close pushed prices back into positive territory and the energy component settled 0.2% higher at $85.76 per barrel.

Natural gas tumbled into negative territory and brushed a session low of $3.39 per MMBtu in late morning action. It then popped back into the black but the move was short lived as prices fell back into the red where they settled at $3.41 per MMBtu, or 1.4% lower.

Gold pulled-back from its pit session high of $1715.40 per ounce and fell into negative territory despite a weaker dollar index. The yellow metal dipped as low as $1706.00 per ounce and struggled near that level for the remainder of pit trade. It settled the session 0.3% lower at $1709.50 per ounce as investors await tomorrow's FOMC policy announcement that is expected to introduce QE4. Silver traded in the same fashion as it slid to a session low of $32.83 per ounce and eventually settled with a 1.1% loss at $32.99 per ounce.DJ30 +62.01 NASDAQ +28.54 SP500 +6.82 NASDAQ Adv/Vol/Dec 1583/1.46 bln/890 NYSE Adv/Vol/Dec 1826/443.8 mln/1162

3:00 pm : The major averages have slipped off their highs after Senator Harry Reid said reaching a budget deal before Christmas may be difficult. Currently, the S&P 500 is higher by 0.7%.

Only three companies covered by Briefing.com will report their earnings between today's close and tomorrow's opening bell. Central Garden (CENT 11.05, -0.05) is the only name scheduled to report following today's close. The Capital IQ consensus expects the manufacturer of pet care products to report a loss of $0.21 on $373.53 million in revenue.

Tomorrow morning, Costco (COST 98.51, -0.44) and Joy Global (JOY 57.82, -0.10) will announce their quarterly results. Costco is expected to report earnings of $0.93 on $23.69 billion in revenue. Meanwhile, forecasts call for Joy Global to reveal earnings of $1.92 on revenue of $14.19 billion.DJ30 +85.21 NASDAQ +35.59 SP500 +9.34 NASDAQ Adv/Vol/Dec 1648/1.33 bln/816 NYSE Adv/Vol/Dec 1926/403.9 mln/1067

2:30 pm : Quiet afternoon trade continues and the S&P 500 is higher by 0.9%.

Two grocery store operators are headed in opposite directions after reporting their quarterly results. Casey's General Stores (CASY 52.04, +3.50) reported in-line earnings and revenue. However, the stock is surging 7.2% after management said it is considering switching the company's structure to a real estate investment trust.

On the downside, Pantry (PTRY 12.15, -0.66) is sliding 5.2% after missing on earnings and beating on revenue.DJ30 +105.60 NASDAQ +41.55 SP500 +12.24 NASDAQ Adv/Vol/Dec 1698/1.23 bln/763 NYSE Adv/Vol/Dec 2025/372.1 mln/953

2:00 pm : Uneventful afternoon trade continues and the S&P 500 is advancing 0.9%.

The health care sector is one of the top gainers as biotech companies outperform the broader market. Vertex Pharmaceuticals (VRTX 41.72, +1.47) and Gilead Sciences (GILD 76.54, +2.29) are seeing respective gains of 3.7% and 3.1% as they lead biotech names.

In acquisition news, Somaxon Pharmaceuticals (SOMX 2.59, +1.12) is surging 76.2% after announcing it will be acquired by Pernix Therapeutics (PTX 7.61, -0.32). Per the agreement, Somaxon shareholders will receive $25 million in Pernix common stock.

Elsewhere, Hill-Rom Holdings (HRC 28.88, +0.81) is advancing 2.9% after Goldman Sachs upgraded the stock to ‘Buy' from ‘Neutral.'

In notable sector earnings, Synergetics USA (SURG 4.40, +0.20) is rising by 4.8% after beating on revenue.DJ30 +109.20 NASDAQ +41.88 SP500 +12.86 NASDAQ Adv/Vol/Dec 1707/1.14 bln/744 NYSE Adv/Vol/Dec 2085/343.8 mln/892

1:30 pm : Quiet trade continues as the major averages hover near their respective highs. The Dow is firmer by 0.8%.

The Dow Jones Transportation Average is adding 0.5% as it lags the broader market. Delta Air Lines (DAL 10.83, +0.69) is the top performer within the bellwether complex. The air carrier is rising by 6.8% after confirming plans to invest $360 million in Virgin Atlantic. Following the investment, Delta will hold a 49% stake in Virgin Atlantic. Meanwhile, other airlines are outperforming as well. United Continental (UAL 21.82, +0.93) and Southwest Airlines (LUV 10.14, +0.30) are up 4.6% and 3.0%, respectively.DJ30 +107.83 NASDAQ +40.75 SP500 +12.75 NASDAQ Adv/Vol/Dec 1743/1.06 bln/720 NYSE Adv/Vol/Dec 2079/323.8 mln/892

1:00 pm : Equities began the session on a positive note as upbeat European trade contributed to a bullish open. The S&P 500 spent the first half of the day climbing to fresh highs, and the benchmark index is firmer by 0.9% at midday. Earlier, House Speaker Boehner provided an update on the progress of the budget debate. However, Mr. Boehner's message was largely unchanged from his prior statements. He said that he remains hopeful an agreement can be reached, but the President needs to outline plans for spending cuts first.

The technology sector is the top performer and the SPDR Technology Select Sector ETF (XLK 29.32, +0.48) is higher by 1.7%. The largest tech component, Apple (AAPL 545.15, +15.32), is rising by 2.9% as it attempts to halt its slide and establish support near the $550 area.

Texas Instruments (TXN 30.95, +1.13) is advancing 3.8% despite narrowing its revenue guidance, and trimming its earnings guidance to account for restructuring.

TripAdvisor (TRIP 41.68, +3.29) is surging 8.6% after Liberty Interactive (LINTA 18.89, -0.25) purchased 4.8 million TRIP shares for $62.50 per share. As a result of the transaction, Liberty Interactive controls a majority voting stake in TripAdvisor. Other online travel sites are also advancing on the news. Expedia (EXPE 59.07, +1.36) is rising by 2.4% and Orbitz Worldwide (OWW 2.39, +0.07) is adding 3.0%.

Financial stocks are trading largely in-line with the broader market. Morgan Stanley (MS 17.67, +0.66) is higher by 3.9% as it leads the majors. Earlier reports indicated the company may file for regulatory approval in order to begin a share buyback program. Looking at other majors, Bank of America (BAC 10.69, +0.12) and JPMorgan Chase (JPM 43.04, +0.73) are advancing 1.1% and 1.7%, respectively.

Elsewhere, American International Group (AIG 34.90, +1.54) is rallying 4.6% after confirming the U.S. Treasury will sell its remaining shares of AIG common stock.

In notable quarterly results, Dollar General (DG 43.67, -2.90) reported earnings of $0.63 on revenue of $3.96 billion. The company's bottom line was $0.03 ahead of the Capital IQ consensus, while its revenue met expectations. In addition to reporting an earnings beat, the retailer raised its full-year 2013 earnings guidance in-line with analyst estimates. However, its full-year 2013 revenue is expected to be near the low end of the previous range. Dollar General is sliding 6.2% in reaction to the results and peers Family Dollar (FDO 65.88, -4.70) and Dollar Tree (DLTR 38.19, -1.25) are down 6.7% and 3.2%, respectively.

In today's economic news, October trade deficit widened to $42.2 billion after a downwardly revised prior month deficit of $40.3 billion. Economists polled by Briefing.com had expected that the deficit would come in at $42.8 billion.

October wholesale inventories increased by 0.6%, which was ahead of the 0.4% uptick forecast by the Briefing.com consensus.DJ30 +111.47 NASDAQ +42.04 SP500 +13.07 NASDAQ Adv/Vol/Dec 1773/979.5 mln/662 NYSE Adv/Vol/Dec 2108/298.9 mln/853

12:30 pm : The major averages continue to trade near their respective highs following comments from House Speaker Boehner. During his brief statement, Speaker Boehner said Republicans are still waiting on the Democrats to identify specific spending cuts.

Financial stocks are trading largely in-line with the broader market. Morgan Stanley (MS 17.69, +0.68) is higher by 4.0% as it leads the majors. Earlier reports indicated the company may file for regulatory approval in order to begin a share buyback program. Looking at other majors, Bank of America (BAC 10.69, +0.12) and JPMorgan Chase (JPM 43.04, +0.73) are advancing 1.1% and 1.8%, respectively.

Elsewhere, American International Group (AIG 34.93, +1.57) is adding 4.7% after confirming U.S. Treasury will sell its remaining shares of AIG common stock.DJ30 +115.48 NASDAQ +40.99 SP500 +13.57 NASDAQ Adv/Vol/Dec 1712/905.2 mln/697 NYSE Adv/Vol/Dec 2078/277.5 mln/869

12:00 pm : Equities are holding their gains as House Speaker John Boehner begins addressing the media on the progress of budget negotiations.

Utility stocks are underperforming as investors favor the risk-on trade. A handful of electrical utilities are weighing on the sector as NV Energy (NVE 18.70, -0.05), Southern Company (SO 43.56, -0.11), and Westar Energy (WR 28.47, -0.07) all see losses between 0.2% and 0.4%.

Elsewhere, American States Water (AWR 46.41, -0.23) is down 0.5% after Ladenburg Thalmann downgraded the stock to ‘Neutral' from ‘Buy.'DJ30 +109.99 NASDAQ 39.66 SP500 +12.90 NASDAQ Adv/Vol/Dec 1705/776.1 mln/686 NYSE Adv/Vol/Dec 2053/244.1 mln/866

11:30 am : Equities have lifted to fresh highs and the S&P 500 is adding 1.0%.

Dollar General (DG 44.54, -2.03) reported earnings of $0.63 on revenue of $3.96 billion. The company's bottom line was $0.03 ahead of the Capital IQ consensus, while its revenue met expectations. In addition to reporting an earnings beat, the retailer raised its full-year 2013 earnings guidance in-line with analyst estimates. However, its full-year 2013 revenue is expected at the low end of the previous range. Dollar General is sliding 4.3% in reaction to the results and peers Family Dollar (FDO 67.78, -2.80) and Dollar Tree (DLTR 38.49, -0.95) are down 3.9% and 2.4%, respectively.DJ30 +121.94 NASDAQ +44.61 SP500 +14.54 NASDAQ Adv/Vol/Dec 1766/667.1 mln/615 NYSE Adv/Vol/Dec 2085/214.6 mln/823

11:00 am : The major averages continue to trade near their highs and the S&P 500 is firmer by 0.8%.

The technology sector is leading the broader market and the SPDR Technology Select Sector ETF (XLK 29.29, +0.45) is higher by 1.6%.

The largest tech component, Apple (AAPL 545.24, +15.42), is rising by 2.9% as it seeks support near the $550 area.

Texas Instruments (TXN 30.88, +1.06) is advancing 3.6% despite narrowing its revenue guidance, and trimming its earnings guidance to account for restructuring.

TripAdvisor (TRIP 41.04, +2.65) is surging 6.9% after Liberty Interactive (LINTA 18.95, -0.19) purchased 4.8 million TRIP shares for $62.50 per share. As a result of the transaction, Liberty Interactive controls a majority voting stake in TripAdvisor. Other online travel sites are also advancing on the news. Expedia (EXPE 59.40, +1.69) is rising by 2.9% and Priceline.com (PCLN 629.34, +3.38) is adding 0.5%.DJ30 +103.59 NASDAQ +37.24 SP500 +11.72 NASDAQ Adv/Vol/Dec 1678/531.5 mln/665 NYSE Adv/Vol/Dec 2005/178.5 mln/860

10:35 am : Jan crude oil trended higher in overnight electronic trade and touched an overnight session high of $86.33. However, the energy component retreated from the HoD and has been inching lower since floor trade opened. It traded down to a session low of $85.58 and is currently inching above that level at $85.86, or up 0.4%.

Jan natural gas slid into negative territory, dropping from a floor session high of $3.47. It dipped to a session low of $3.40 in recent action is now down 1.6 % at $3.41.

Precious metals also have been declining since pit trade opened. Feb gold fell off its session high of $1715.40 and recently brushed a new session low of $1706.00. Silver slid to a session low of $32.83 after being as high as $33.22 in early morning pit action. Both metals are currently slightly above their session lows with gold being down 0.4% at $1707.40 and silver down 1.4% at $32.92.DJ30 +92.59 NASDAQ +37.00 SP500 +11.44 NASDAQ Adv/Vol/Dec 1659/422.5 mln/646 NYSE Adv/Vol/Dec 2020/148.9 mln/810

10:00 am : The major averages are near their highs and the S&P 500 is firmer by 0.7%.

October wholesale inventories increased by 0.6%, which is higher than the increase of 0.4% expected by the Briefing.com consensus.DJ30 +88.16 NASDAQ +32.69 SP500 +10.17 NASDAQ Adv/Vol/Dec 1595/251.1 mln/616 NYSE Adv/Vol/Dec 2082/105.5 mln/694

09:45 am : The opening minutes saw an extension of the bullish pre-market sentiment. The S&P 500 is higher by 0.5%.

All ten S&P 500 sectors are registering gains and technology stocks are leading the advance. Apple (AAPL 540.00, +10.18) is contributing to the strength in tech stocks as the largest sector component trades higher by 1.9%.

Meanwhile, utilities and industrial stocks are underperforming the broader market.

Today's economic data will be topped off by October wholesale inventories, which will be reported at 10:00 ET.DJ30 +58.09 NASDAQ 22.22 SP500 +6.54 NASDAQ Adv/Vol/Dec 1478/127.5 mln/644 NYSE Adv/Vol/Dec 1882/74.4 mln/791

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +15.00. Heading into the open, the S&P 500 futures are higher by 0.2%.

Liberty Interactive (LINTA 19.14, 0.00) has purchased 4.8 million shares of TripAdvisor (TRIP 38.39, 0.00) for $62.50 per share. As a result of the transaction, Liberty Interactive now holds a majority voting stake in the online travel site. Rival Expedia (EXPE 59.15, +1.44) is rising by 2.5% on the news.

Urban Outfitters (URBN 38.85, +1.85) is surging 5.0% after disclosing strong sales so far during the fourth quarter.

SunCoke Energy (SXC 14.80, -1.09) is sliding 6.3% after issuing downside full-year earnings guidance. Additionally, the company plans to accelerate the execution of an aggressive coal action plan in order to mitigate the impact of significantly lower coal prices.

08:56 am : [BRIEFING.COM] S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +14.80. The S&P 500 futures are firmer by 0.2% as they trade just below their highs.

European markets are generally higher with France's CAC leading the way, up 0.7%. Last evening, the Financial Times reported Italian Prime Minister Mario Monti is in talks with the centrist party, which is encouraging him to stand in Italy's next elections. However, the catalyst that drove equities and the euro higher was the release of the German ZEW Economic Sentiment. The survey reading of 6.9 was well ahead of the expected -12.0, and was the first positive reading in six months. In addition, a ZEW member noted the European Central Bank and Bundesbank forecasts are too conservative.

In the United Kingdom, the FTSE is adding 0.1%. Hotel operator Whitbread is advancing 3.8% after reporting accelerated revenue growth. On the downside, Tullow Oil is sliding 5.7% after agreeing to buy Spring Energy Norway.

In Germany, the DAX is higher by 0.6% and ThyssenKrupp is leading the index. The steelmaker is spiking 6.9% after saying the sale of its American unit remains on schedule. Meanwhile, financials are underperforming. Allianz, Commerzbank, and Deutsche Bank are all down between 0.3% and 0.5%.

France's CAC is rising by 0.7% and utilities are seeing strength. GDF Suez is adding 0.7% and Veolia Environnement is advancing 4.4%. Similar to Germany, French financials are under pressure. BNP Paribas and Credit Agricole are lower by 0.5% and 1.4%, respectively.

The major Asian averages ended mostly higher as hopes of a fiscal cliff resolution provided some support. China's Shanghai Composite (-0.4%) was the worst performer in the region after Chinese new loans missed estimates (CNY523 billion actual versus CNY500 billion expected). Elsewhere, Japan's Nikkei was little changed as investors pare back their risk-taking ahead of Sunday's election. Other data from the region showed Australia's NAB Business Confidence miss expectations (-9 actual versus -1 previous), India's trade deficit narrow to $19.3 billion ($19.1 billion expected, $20.9 billion previous), and Malaysia's industrial production top forecasts (5.8% year-over-year actual versus 2.4% year-over-year expected).

In Japan, the Nikkei slipped 0.1% as exporters continued to decline amid overbought signals. Automaker Honda Motor fell 1.1% and electronics maker Sony shed 1.7%. Utilities were under pressure on reports Japan Atomic Power may be forced to decommission one of its reactors because of its proximity to a fault line. Kansai Electric Power tumbled 6.4% on the news.

Hong Kong's Hang Seng added 0.2% amid sloppy trade. HSBC tacked on 0.1% despite word its settlement with U.S. regulators could reach upwards of $1.9 billion. On the downside, light-rail operator MTR shed 0.5%.

In China, the Shanghai Composite settled lower by 0.4% as financials and property developers slipped after the new loans miss. Bank of Communications and China Vanke both fell 1.1% and were among the worst performance in their respective sectors. Elsewhere, Kweichow Moutai rallied 1.8% after samples of its product passed government testing.

08:31 am : [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +14.80. U.S. equity futures continue to trade near their pre-market highs and the S&P 500 futures are adding 0.3%.

The trade deficit widened to $42.2 billion during October after a downwardly revised prior month deficit of $40.3 billion. Economists polled by Briefing.com had expected that the deficit would come in at $42.8 billion.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +12.80. U.S. equity futures are modestly higher amid positive European trade.

Overnight, the world equity markets were mostly stronger leading into the U.S. session. China's Shanghai shed 0.4%, following its recent run-up. In regional economic data, new yuan loans came in weaker-than-expected and contributed to the bearish tone. In notable news, Australia's NAB Business Confidence was reported at -9, well short of expectations. The Australian dollar retreated in response to the data. Elsewhere, reports suggested the Bank of Japan will adopt further easing policies and increase its asset purchase target at its next meeting. Japan's Nikkei was unchanged and Hong Kong's Hang Seng added 0.2%.

In Europe, the Financial Times reported Italian Prime Minister Mario Monti is in talks with the centrist party, which is encouraging him to stand in Italy's next elections. However, the catalyst that drove equities and the euro higher was the release of the German ZEW Economic Sentiment. The survey reading of 6.9 was well ahead of the expected -12.0, and was the first positive reading in six months. In addition, a ZEW member noted the European Central Bank and Bundesbank forecasts are too conservative. As European indices near midday, UK's FTSE is adding 0.1%, Germany's DAX is higher by 0.5%, and France's CAC is up 0.6%.

In U.S. corporate news, American International Group (AIG 34.19, +0.83) is adding 2.5% after confirming U.S. Treasury will sell its remaining shares of AIG common stock.

Dollar General (DG 46.90, +0.33) is higher by 0.7% after beating on earnings. In addition to reporting a bottom line beat, the retailer raised its full-year 2013 earnings guidance in-line with the Capital IQ consensus. However, its full-year 2013 revenue is expected at the low end of the previous range.

Stryker (SYK 56.38, +1.59) is advancing 2.9% after Goldman Sachs upgrade the stock to ‘Buy' from ‘Neutral.'

October trade balance will be reported at 8:30 ET and wholesale inventories will cross the wires at 10:00 ET.

06:10 am : [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +10.00.

06:10 am : Nikkei...9525.32...-8.40...-0.10%. Hang Seng...22323.94...+47.20...+0.20%.

06:10 am : FTSE...5932.53...+10.90...+0.20%. DAX...7562.78...+31.90...+0.40%.

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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