TheStrategyLab.com Free Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods
It is currently Thu Jul 19, 2018 12:40 pm

All times are UTC - 5 hours




Post new topic Reply to topic Bookmark and Share  [ 1 post ] 
Author Message
 Post subject: Dec 20th Thurs Emini TF, EuroFX 6E & Oil CL Futures $270.00
PostPosted: Thu Dec 20, 2012 7:00 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3181
Location: Canada
Image

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

Attachment:
122012-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+270.00.png
122012-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+270.00.png [ 75.45 KiB | Viewed 63 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $270.00 dollars or +2.70 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 @ $270.00 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=1396

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

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

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.

Attachment:
122012-Key-Price-Action-Markets.png
122012-Key-Price-Action-Markets.png [ 535.26 KiB | Viewed 68 times ]


Image

Market Update

4:20 pm : The major averages finished higher despite showing indecision in the early part of the session. The fiscal cliff remained the focal point, and investors showed optimism in Washington's ability to get a deal done. Lawmakers from both sides of the aisle continued to exchange jabs, and Speaker Boehner said the President and the Democrats have not done enough to avoid falling off the cliff. Mr. Boehner touted the proposal he put forth, which is expected to face a House of Representatives vote tonight around 19:30 ET. The S&P 500 gained 0.6% ahead of this evening's vote.

The financial sector was the top performing space in the S&P 500 and the SPDR Financial Select Sector ETF (XLF 16.70, +0.23) settled higher by 1.4%. Of the majors, Bank of America (BAC 11.52, +0.33) gained 3.0%, and was the top advancer.

NYSE Euronext (NYX 32.25, +8.20) surged 34.1% after agreeing to be acquired by IntercontinentalExchange (ICE 130.10, +1.79) for $33 per share. The transaction price represents a 37.2% premium to NYSE Euronext's Wednesday close.

On the downside, Discover Financial (DFS 38.41, -1.36) slid 3.4% following mixed earnings. During the fourth quarter, the company earned $1.07, which was $0.04 below the Capital IQ consensus estimate. However, Discover's revenue of $2.00 billion exceeded expectations.

Technology stocks lagged the broader market and Apple (AAPL 521.73, -4.57) lost 0.9%.

Among notable tech earnings, technology consultant Accenture (ACN 69.02, -1.38) slid 2.0% after reporting its quarterly results. While the company beat on earnings, its revenue reflected a slowdown in corporate spending.

On the upside, Jabil Circuit (JBL 19.95, +1.38) surged 7.4% after beating on earnings and revenue. In addition, Jabil issued downside second quarter earnings guidance while revenue is expected to be in-line with analyst estimate.

The health care space was the weakest performer, and a handful of names moved on news. Allscripts Healthcare (MDRX 9.14, -1.54) sank 14.4% after the company concluded the review of its strategic alternatives, and decided against a sale. In addition, Allscripts named Paul Black as its Chief Executive Officer. Mr. Black will replace Glen Tullman, who will resign. Also of note, Lee Shapiro will step down from his current function of president.

Elsewhere, Merck (MRK 42.15, -1.50) shed 3.4% after its trial for TREDAPTIVE yielded disappointing results.

On the upside, The Medicines Company (MDCO 23.71, +1.42) surged 6.4% following the announcement of positive trial results for oritavancin in the treatment of acute bacterial skin and skin structure infections.

The November existing home sales report saw its annualized rate increase to 5.04 million units. An improvement in the sales of existing homes suggests new homes may face an increase in demand as well. Homebuilders responded generally well to the news. MDC Holdings (MDC 36.87, +1.24) advanced 3.5% and DR Horton (DHI 20.10, +0.15) rose by 0.8%.

Elsewhere, KB Homes (KBH 15.60, -1.06) slid 6.4% despite beating on earnings and revenue. During the fourth quarter, the homebuilder earned $0.10, which was $0.04 better than the Capital IQ consensus estimate. Meanwhile, its revenue of $578.2 million also exceeded expectations.

The latest weekly initial jobless claims count totaled 361,000, which was worse than the 345,000 that had been expected by the Briefing.com consensus. The tally was above the revised prior week count of 344,000. As for continuing claims, they rose to 3.225 million from 3.213 million.

The third estimate of third quarter GDP showed growth of 3.1%, which was better than the 2.7% that had been expected by the Briefing.com consensus. However, the third quarter GDP Deflator was left unrevised at 2.7%.

The November Housing Price Index from the FHFA increased by 0.5%, which follows a 0.2% increase observed during the prior month.

The Philadelphia Fed Survey ticked up to +8.1 for December. This comes after November's reading of -10.7. Economists polled by Briefing.com had expected that the Survey would improve to a reading of -1.3.

Also of note, leading indicators for October decreased by 0.2%, which followed the prior month's increase of 0.2%.

European markets ended today's session on a mixed note. The United Kingdom's FTSE shed 0.1% while France's CAC and Germany's DAX both added 0.1%.

In the United Kingdom, Carnival (CCL 36.99, -2.07) was the weakest performer. The cruise-line operator lost 6.1% after reporting disappointing earnings. On the upside, media company ITV gained 3.1%.

In France, financials AXA and Credit Agricole led the index with respective gains of 1.1% and 1.3%. Software company Cap Gemini was the weakest index component, and lost 2.7% following disappointing earnings from Accenture.

German stocks eked out slim gains and drug makers led the way. Bayer and Merck both added near 1.0%. Meanwhile, ThyssenKrupp was the weakest performer. The steelmaker lost 2.1% after railroad Deutsche Bahn filed a lawsuit which named ThyssenKrupp as one of the defendants.

Tomorrow, November personal income, personal spending, core PCE prices, durable orders, and durable orders ex-transportation will all be reported at 8:30 ET. Lastly, the final December Michigan Sentiment Survey will be released at 9:55 ET. Note that quadruple witching will take place tomorrow.DJ30 +59.75 NASDAQ +6.02 SP500 +7.88 NASDAQ Adv/Vol/Dec 1502/1.65 bln/961 NYSE Adv/Vol/Dec 2066/682.6 mln/962

3:35 pm : Following the morning sell-off in precious metals, both gold and silver managed to come back a little and erase some losses. Both still ended the day much lower, but neither closed very close to session lows. By the end of today's session, Feb gold has finished 1.3% lower at $1646.50/oz, while silver ended down 4.3% at $29.80/oz.

Feb crude oil spent the afternoon session in positive territory and rose as high as $90.52/barrel. At the end of the day, crude oil finished today's session up 18 cents at $90.18/barrel.

Natural gas futures posted solid gains today. The energy component was in positive territory all session and rose as high as $3.46/MMBtu. When floor trading closed, nat gas finished up 4.2% at $3.46. Mar copper futures ended the day 2% higher at $3.54/lb.DJ30 +22.84 NASDAQ +2.24 SP500 +4.52 NASDAQ Adv/Vol/Dec 1384/1395.1 mln/1073 NYSE Adv/Vol/Dec 1871/463 mln/1137

3:00 pm : The key averages are near their respective highs as trade enters the final hour. The S&P 500 is firmer by 0.5%.

Several notable companies are scheduled to report their quarterly results between today's closing bell and tomorrow's open. This evening, Micron (MU 6.81, -0.01), Nike (NKE 98.60, +0.82), and Research In Motion (RIMM 13.86, +0.23) are all scheduled to report.

Most notably, the Capital IQ consensus expects Micron to report a loss of $0.20 on $2.01 billion in revenue. Elsewhere, Nike's quarterly report is expected to reveal earnings of $1.00 on revenue of $59.70 billion.

Tomorrow morning, Walgreen (WAG 37.35, +0.11) will announce the quarterly results of its operations.DJ30 +37.26 NASDAQ +6.81 SP500 +6.29 NASDAQ Adv/Vol/Dec 1405/1.23 bln/1050 NYSE Adv/Vol/Dec 1917/414.6 mln/1074

2:30 pm : Equities are holding their recent levels and the S&P 500 is higher by 0.4%.

The health care space is underperforming the broader market, and a handful of names are making notable moves. Allscripts Healthcare (MDRX 9.14, -1.54) is sliding 14.4% after the company concluded the review of its strategic alternatives and decided against a sale. In addition, Allscripts has named Paul Black as its Chief Executive Officer. Mr. Black will replace Glen Tullman, who will step down. Also of note, Lee Shapiro will step down from his current function of president.

Elsewhere, Merck (MRK 42.24, -1.41) is shedding 3.3% after its trial for TREDAPTIVE yielded disappointing results.

On the upside, The Medicines Company (MDCO 24.00, +1.71) is surging 7.7% following the announcement of positive trial results for oritavancin in the treatment of acute bacterial skin and skin structure infections.DJ30 +30.03 NASDAQ +4.94 SP500 +5.44 NASDAQ Adv/Vol/Dec 1368/1.14 bln/1078 NYSE Adv/Vol/Dec 1885/385.4 mln/1080

2:00 pm : The major averages have risen to fresh highs and the S&P 500 Is firmer by 0.4%.

CarMax (KMX 37.84, +3.00) is surging 8.7% after beating on earnings and revenue. During the third quarter, the used car dealer earned $0.41, which was $0.02 ahead of the Capital IQ consensus estimate. Meanwhile, the company's revenue of $2.60 billion also exceeded analyst expectations.

Elsewhere, recreational vehicle manufacturer Winnebago (WGO 15.98, +1.90) is soaring 13.5% after handily beating its earnings expectations. In its quarterly report, the company said year-to-date growth of Winnebago has exceeded that of the entire industry. Peer Thor (THO 38.04, +1.05) is rising by 2.8%.DJ30 +46.93 NASDAQ +4.37 SP500 +6.25 NASDAQ Adv/Vol/Dec 1348/1.03 bln/1072 NYSE Adv/Vol/Dec 1864/350.1 mln/1081

1:30 pm : House Speaker John Boehner has recently ended his remarks regarding the ongoing budget battle. While addressing the media, Speaker Boehner said the President and the Democrats have not done much in order to avoid falling off the cliff. He maintained his stance saying that President Obama's strategy is to slow-walk the country off the cliff. Mr. Boehner wrapped up his remarks by saying spending remains the key hurdle in the way of a budget agreement.

The Dow Jones Transportation Average is adding 0.2% and railroads are seeing relative strength. Kansas City Southern (KSU 83.47, +1.65) and Norfolk Southern (NSC 62.75, +0.60) are higher by 2.0% and 1.0%, respectively. Meanwhile, providers of package delivery services are underperforming. FedEx (FDX 92.59, -0.61) is shedding 0.6% and UPS (UPS 74.71, -0.89) is sliding 1.2%.DJ30 +17.57 NASDAQ -1.82 SP500 +2.65 NASDAQ Adv/Vol/Dec 1232/932.5 mln/1168 NYSE Adv/Vol/Dec 1783/318.6 mln/1151

1:00 pm : Equities have spent the first half of the session in a narrow range. The S&P 500 saw marginal gains at the open, but has traded near its flat line since. In Washington, House Majority Leader Eric Cantor addressed the media, and said the House has the votes needed to pass ‘plan B.' The official vote is expected to take place after 19:30 ET. Mr. Cantor was followed by Senate Majority Leader Reid who described Speaker Boehner's actions on the fiscal cliff as "senseless." Finally, Mr. Boehner will address the media at 13:15 ET.

The financial sector is the top performing space in the S&P 500 and the SPDR Financial Select Sector ETF (XLF 16.58, +0.11) is higher by 0.7%. Of the majors, Bank of America (BAC 11.41, +0.21) is the top advancer as it trades higher by 1.9%.

In notable earnings, Discover Financial (DFS 37.99, -1.77) is sliding 4.5% following mixed earnings. During the fourth quarter, the company earned $1.07, which was $0.04 below the Capital IQ consensus estimate. However, Discover's revenue of $2.00 billion exceeded expectations.

Technology stocks are seeing relative softness and the sector is the weakest S&P 500 performer. Tech heavyweight Apple (AAPL 521.17, -5.14) remains under pressure as it trades lower by 1.0%.

In addition to Apple, several other large cap tech names are underperforming as well. Cisco Systems (CSCO 20.17, -0.09), International Business Machines (IBM 193.89, -1.19), and Intel (INTC 20.95, -0.15) are all down between 0.5% and 0.7%.

The November existing home sales report saw its annualized rate increase to 5.04 million units. An improvement in the sales of existing homes suggests new homes may face an increase in demand as well. Homebuilders are responding generally well to the news. MDC Holdings (MDC 36.42, +0.79) is higher by 2.2% and DR Horton (DHI 20.08, +0.13) is rising by 0.7%.

Elsewhere, KB Homes (KBH 15.61, -1.04) is sliding 6.3% despite beating on earnings and revenue. During the fourth quarter, the homebuilder earned $0.10, which was $0.04 better than the Capital IQ consensus estimate. Meanwhile, its revenue of $578.2 million also exceeded expectations.

The November Housing Price Index from the FHFA increased by 0.5%, which follows a 0.2% increase observed during the prior month.

The Philadelphia Fed Survey ticked up to +8.1 for December. This comes after November's reading of -10.7. Economists polled by Briefing.com had expected that the Survey would improve to a reading of -1.3.

Also of note, leading indicators for October decreased by 0.2%, which followed the prior month's increase of 0.2%.

European markets ended today's session on a mixed note. The United Kingdom's FTSE shed 0.1% while France's CAC and Germany's DAX both added 0.1%.

In the United Kingdom, Carnival (CCL 36.70, -2.36) was the weakest performer. The cruise-line operator lost 6.1% after reporting disappointing earnings. On the upside, media company ITV gained 3.1%.

In France, financials AXA and Credit Agricole led the index with respective gains of 1.1% and 1.3%. Software company Cap Gemini was the weakest index component, and lost 2.7% following disappointing earnings from Accenture (ACN 68.62, -1.78).

German stocks eked out slim gains and drug makers led the way. Bayer and Merck both added near 1.0%. Meanwhile, ThyssenKrupp was the weakest performer. The steelmaker lost 2.1% after railroad Deutsche Bahn filed a lawsuit which named ThyssenKrupp as one of the defendants.DJ30 +6.76 NASDAQ -3.08 SP500 +1.64 NASDAQ Adv/Vol/Dec 1218/852.2 mln/1182 NYSE Adv/Vol/Dec 1719/291.4 mln/1200

12:30 pm : Equities remain in a narrow range and the S&P 500 is flat. Recently, Senate Majority Leader Harry Reid described Speaker Boehner's actions on the fiscal cliff as "senseless."

European markets have closed for the day, and the major regional indices saw little change. The United Kingdom's FTSE shed 0.1% while France's CAC and Germany's DAX both added 0.1%.

In the United Kingdom, Carnival (CCL 36.84, -2.21) was the weakest performer. The cruise-line operator lost 6.1% after reporting disappointing earnings. On the upside, media company ITV gained 3.1%.

In France, financials AXA and Credit Agricole led the index with respective gains of 1.1% and 1.3%. Software company Cap Gemini was the weakest index component, and lost 2.7% following disappointing earnings from Accenture (ACN 68.53, -1.87).

German stocks eked out slim gains and drug makers led the way. Bayer and Merck both added near 1.0%. Meanwhile, ThyssenKrupp was the weakest performer. The steelmaker lost 2.1% after railroad Deutsche Bahn filed a lawsuit which named ThyssenKrupp as one of the defendants.DJ30 -9.34 NASDAQ -4.90 SP500 +0.50 NASDAQ Adv/Vol/Dec 1202/780.7 mln/1161 NYSE Adv/Vol/Dec 1712/269.8 mln/1201

12:00 pm : Equities are holding their levels and the S&P 500 is adding 0.1%.

Technology stocks are seeing relative weakness and the sector is the weakest S&P 500 performer. Tech heavyweight Apple (AAPL 521.71, -4.60) remains under pressure as it trades lower by 0.8%.

In addition to Apple, several other large cap tech names are underperforming as well. Cisco Systems (CSCO 20.17, -0.09), International Business Machines (IBM 193.57, -1.51), and Intel (INTC 20.92, -0.17) are all down between 0.5% and 1.0%.

Among names moving on earnings, technology consultant Accenture (ACN 68.04, -2.36) is sliding 3.4% after reporting its quarterly results. While the company beat on earnings, its revenue reflected a slowdown in corporate spending.

On the upside, Jabil Circuit (JBL 20.07, +1.50) is surging 8.1% after beating on earnings and revenue. In addition, Jabil issued downside second quarter earnings guidance while revenue is expected to be in-line with analyst estimate.DJ30 -5.31 NASDAQ -3.67 SP500 +1.32 NASDAQ Adv/Vol/Dec 116/690.8 mln/1182 NYSE Adv/Vol/Dec 1723/241.5 mln/1172

11:30 am : The S&P 500 has slipped back into the red as range bound trade continues. House Majority Leader Eric Cantor recently addressed the media, and said the House has the votes needed to pass ‘plan B.' The official vote is expected to take place after 19:30 ET.

The financial sector is the top performing space in the S&P 500 and the SPDR Financial Select Sector ETF (XLF 16.57, +0.10) is higher by 0.6%. Of the majors, Bank of America (BAC 11.38, +0.19) is the top performer as it trades higher by 1.7%.

In notable earnings, Discover Financial (DFS 38.01, -1.76) is sliding 4.4% following mixed earnings. During the fourth quarter, the company earned $1.07, which was $0.04 below the Capital IQ consensus estimate. However, Discover's revenue of $2.00 billion exceeded expectations.DJ30 -19.30 NASDAQ -6.44 SP500 -0.30 NASDAQ Adv/Vol/Dec 1120/601.8 mln/1189 NYSE Adv/Vol/Dec 1640/214.3 mln/1226

11:00 am : The S&P 500 has returned near its opening level and the benchmark index is now higher by 0.1%.

The November existing home sales report saw its annualized rate increase to 5.04 million units. An improvement in the sales of existing homes suggests new homes may face an increase in demand as well. Homebuilders are responding generally well to the news. MDC Holdings (MDC 36.35, +0.72) is higher by 1.9% and DR Horton (DHI 20.19, +0.24) is rising by 1.2%.

Elsewhere, KB Homes (KBH 15.59, -1.07) is sliding 6.4% despite beating on earnings and revenue. During the fourth quarter, the homebuilder earned $0.10, which was $0.04 better than the Capital IQ consensus estimate. Meanwhile, its revenue of $578.2 million also exceeded expectations.DJ30 +0.36 NASDAQ -2.92 SP500 +1.80 NASDAQ Adv/Vol/Dec 1154/483.3 mln/1096 NYSE Adv/Vol/Dec 1727/177.7 mln/1100

10:35 am : Commodities are volatile this morning, especially following GDP/jobs numbers this morning. Gold and silver sold off significantly following this data. Both gold and silver, actually, began to sell-off about 15 ahead of the data. Copper has not been volatile, but has been quietly inching lower this morning.

Precious metals continues to trade lower and are now trading near their session lows (Gold $1646.60, Silver $29.83). In current action, Feb gold is -1.3% at $1646.50/oz and Mar silver is -3.5% at $30.01/oz. Mar copper is -1.9% at $3.54/lb.

Crude oil has been notably volatile as well this morning, tanking to today's current LoD of $89.26/barrel following the econ data. Following a sharp sell-off, crude recovered almost all of its losses, initially, and is now -0.3% at $89.71/barrel.

Natural gas futures have been in positive territory all session and was around 1.8% higher at $3.38 just ahead of today's inventory data. Following the data, nat gas spiked to a new session high of $3.44 and is now +3.0% at $3.42/MMBtu in current trade.DJ30 -4.80 NASDAQ -6.28 SP500 +0.43 NASDAQ Adv/Vol/Dec 1006/349.3 mln/1171 NYSE Adv/Vol/Dec 1591/143 mln/1200

10:00 am : The S&P 500 ticked up following the release of several economic data points. The benchmark index is currently lower by 0.1%.

Existing home sales for November hit an annualized rate of 5.04 million units, which was stronger than the rate of 4.90 million units that had been generally expected by the Briefing.com consensus. The pace for November was up from the prior month's revised rate of 4.76 million units.

Separately, the latest Housing Price Index from the FHFA was also released. For November, the Index increased by 0.5%, which follows a 0.2% increase observed during the prior month.

The Philadelphia Fed Survey ticked up to +8.1 for December. This comes after November's reading of -10.7. Economists polled by Briefing.com had expected that the Survey would improve to a reading of -1.3.

Lastly, leading indicators for October decreased by 0.2%, which followed the prior month's increase of 0.2%.DJ30 -17.05 NASDAQ -3.61 SP500 -0.81 NASDAQ Adv/Vol/Dec 890/245.9 mln/1231 NYSE Adv/Vol/Dec 1441/105.1 mln/1299

09:45 am : After opening on a slightly higher note, the S&P 500 is shedding 0.1%.

Looking at the early sector performance, utilities and financials are outperforming the broader market. Meanwhile, technology and discretionary stocks are among the biggest laggards.

Also of note, gold has slid over 1.0% during the past hour. The yellow metal now trades at $1650.

October FHFA Housing Price Index, November existing home sales, November leading indicators, and the December Philadelphia Fed Survey are all set to cross the wires at 10:00 ET.DJ30 -17.28 NASDAQ -8.22 SP500 -1.43 NASDAQ Adv/Vol/Dec 757/152.1 mln/1294 NYSE Adv/Vol/Dec 1363/75.2 mln/1290

09:19 am : [BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +12.80. Heading into the open, equity futures are pointing to a mixed start. The Nasdaq futures are adding 0.3% while Dow futures are off by 0.1%.

Today's focus will be on the House of Representatives which is set to vote on Speaker Boehner's ‘plan B.' In addition, Speaker Boehner will hold a press briefing at 13:15 ET.

Looking at notable pre-market movers, NYSE Euronext (NYX 33.94, +9.89) is surging 41.1% after agreeing to be acquired by IntercontinentalExchange (ICE 137.18, +8.81) for $33 per share. The transaction price represents a 37.2% premium to NYX Wednesday closing price. Peer NASDAQ OMX Group (NDAQ 26.92, +1.70) is higher by 6.7%.

09:00 am : S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +14.80.

U.S. equity futures are mixed. The Nasdaq futures are adding 0.2% as they outperform.

The major Asian bourses ended mostly higher, shaking off concerns of a stalemate in U.S. fiscal cliff negotiations. The Bank of Japan increased its asset purchase program by another JPY10 trillion, and indicated it would review raising its inflation target to 2.0% (currently 1.0%). The announcement disappointed investors as the Nikkei slipped 1.2% and USDJPY fell off a 20-month high. Elsewhere, a state researcher from China suggested the middle kingdom would see 7.5% GDP. There was no meaningful data from the region.
In Japan, the Nikkei lost 1.2% but was able to hold the psychologically important 10,000 level. Automakers were the worst performers as Mitsubishi Motors sank 5.5% after announcing a recall and Nissan Motor tumbled 7.4% following a downgrade at Nomura.
In Hong Kong, the Hang Seng added 0.2% as financials outperformed. HSBC and Standard Chartered added 1.4% and 3.1% respectively after Credit Suisse upgraded European financials.
In China, the Shanghai Composite tacked on 0.3% as property stocks saw bargain hunters emerge. Poly Real Estate was one of the top performers in the space, adding 1.5%. Elsewhere, feed processors were under pressure following reports poultry sold to KFC was injected with an excess amount of growth hormones. Shenzhen Kondral fell 2.3% and Shangdong Liuhe Group lost 2.1%.

European markets are little changed amid limited news flow. In notable economic data, Germany's PPI slipped 0.1% month-over-month, while expectations called for a downtick of 0.2%. Meanwhile, the year-over-year reading rose by 1.4%, in-line with expectations. Italian November retail sales decreased by 1.0% month-over-month, while no change was expected by the consensus. Elsewhere, Great Britain's retail sales were unchanged month-over-month while the year-over-year reading decreased by 0.9%. Both figures missed expectations. In news of note, the International Monetary Fund has demanded a partial default for Cyprus. This has been set as a pre-condition for a Cypriot bailout and comes just one day after the country's finance ministry said there was no possibility of a default.
Germany's DAX is unchanged. ThyssenKrupp is lower by 1.3% after railroad Deutsche Bahn filed a lawsuit which named ThyssenKrupp as one of the defendants. Meanwhile, tire maker Continental is leading the index as it trades higher by 1.1%.
In the United Kingdom, the FTSE is flat. Supplier of mining equipment Weir Group is rising by 3.9% after agreeing to acquire Mathena for $385 million. On the downside, United Utilities Group is sliding 2.3%.
France's CAC is adding 0.2% and financials are outperforming. Credit Agricole is higher by 1.7% and AXA is rising by 1.2%. Cap Gemini is down 2.3% after technology consultant Accenture reported slowing sales.

08:34 am : [BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +7.00. Equity futures have ticked higher following the release of the final third quarter GDP. The S&P 500 futures are off by 0.1%.

The latest weekly initial jobless claims count totaled 361,000, which was worse than the 345,000 that had been expected by the Briefing.com consensus. The tally was above the revised prior week count of 344,000. As for continuing claims, they rose to 3.225 million from 3.213 million.

Lastly, the third estimate of third quarter GDP showed growth of 3.1%, which was better than the 2.7% that had been expected by the Briefing.com consensus. However, the third quarter GDP Deflator was left unrevised at 2.7%.

08:05 am : [BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +9.00.

U.S. equity futures are flat amid quiet overseas trade. Today, the House of Representatives is scheduled to vote on Speaker Boehner's ‘plan B.' The vote is expected to pass, but face stiff resistance in the Senate. In addition, President Obama said he will veto this bill. A healthy dose of economic data will be reported today, and the third estimate of third quarter GDP will be a point of focus. The report will be released at 8:30 ET.

Taking a look at overseas markets:

Asian indices finished mixed. Japan's Nikkei lost 1.2%, Hong Kong's Hang Seng added 0.2%, and China's Shanghai Composite advanced 0.3%.
Regional economic data was limited:
The Bank of Japan maintained its interest rate at 0.10% and increased its asset purchase program by JPY10 trillion. In addition, the central bank discussed raising the inflation target to 2.0% from the current 1.0%.
The New Zealand third quarter GDP rose by 0.2%, while the consensus expected an uptick of 0.4%.
In news:
A Chinese state researcher expects the country's GDP to show growth of 7.5%.
Chinese Finance Minister Xie Xuren told domestic financial officials his key focus is on deepening fiscal reform.

European markets are seeing slim gains. Germany's DAX is flat while France's CAC and the United Kingdom's FTSE are both adding 0.1%.
Looking at notable economic data:
Germany's PPI slipped 0.1% month-over-month, while expectations called for a downtick of 0.2%. Meanwhile, the year-over-year reading rose by 1.4%, in-line with expectations.
Italian November retail sales decreased by 1.0% month-over-month, while no change was expected by the consensus.
Great Britain's retail sales were unchanged month-over-month while the year-over-year reading decreased by 0.9%. Both figures missed expectations.
In news:
The International Monetary Fund has demanded a partial default for Cyprus. This has been set as a pre-condition for a Cypriot bailout.

In U.S. corporate news

IntercontinentalExchange (ICE 123.00, -5.31) is lower by 4.1% after Reuters reported the exchange is in discussions to acquire NYSE Euronext (NYX 24.05, 0.00) for $33 per share. The transaction price would represent a 37.2% premium to NYX Wednesday closing price.
Allscripts Healthcare (MDRX 8.85, -1.83) is sliding 17.1% after the company has concluded the review of its strategic alternatives. In addition, Allscripts has named Paul Black as its Chief Executive Officer. Mr. Black will replace Glen Tullman, who will step down. Also of note, Lee Shapiro will step down from his current function of president.

Weekly initial and continuing claims will be reported at 8:30 ET. In addition, the third estimate of third quarter GDP and the GDP deflator will also be released at 8:30 ET. Lastly, November existing home sales, December Philadelphia Fed Survey, November leading indicators, and October FHFA Housing Price Index are all set to cross the wires at 10:00 ET.

06:24 am : [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +8.00.

06:24 am : Nikkei...10039.33...-121.10...-1.20%. Hang Seng...22659.78...+36.40...+0.20%.

06:24 am : FTSE...5964.62...+3.00...+0.10%. DAX...7661.43...-7.10...-0.10%.

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

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

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


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

All times are UTC - 5 hours


Who is online

Users browsing this forum: No registered users and 1 guest


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

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