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 Post subject: January 3rd Thursday Trade Results - Profit $540.00
PostPosted: Fri Jan 04, 2013 8:28 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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

Attachment:
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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 @ $540.00 dollars or +5.40 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 @ $540.00 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=113&t=1405

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=199&t=1715

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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 in many trading instruments I monitor during the trading day. 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, intermarket analysis (e.g. Forex EurUsd, Gold GC futures, Oil CL & Brent futures, Eurex DAX futures, Emini ES futures, Emini TF futures, Treasury ZB futures) 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.

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Market Update

4:15 pm : The S&P 500 shed 0.2% after the Federal Reserve released the minutes from its December policy meeting. The markets keyed in on comments from several members who voiced concerns over the duration of the asset purchase program. In addition, some participants "thought that it would probably be appropriate to slow or to stop purchases well before the end of 2013." Traditional safe-haven assets saw some selling in reaction the report. Gold dropped nearly 1.5% to its session low in the 1660.00 area. Meanwhile, Treasuries saw some selling, and the 10-yr yield jumped six basis points to 1.899%, its highest close since May.

Financials were some of the top performers during yesterday's rally. However, the market focus is now turning to the next step in the debate as the country nears the debt ceiling. The special measures currently being undertaken by the Department of Treasury are expected to delay the breach of the ceiling for about two months. Also of note, recent reports have indicated Treasury Secretary Tim Geithner will leave his post by the end of January. In addition, the approval of a tax plan was met with less-than-positive feedback from rating agencies which said more action on the deficit will be needed soon. Among individual financials, Goldman Sachs (GS 130.94, -0.72) and Wells Fargo (WFC 34.76, -0.29) both shed over 0.5%.

Shares of automakers responded to December car sales data. Among the notable movers, Ford Motor (F 13.46, +0.26) rose by 2.0% after the company reported a 5.0% increase in December car sales. Meanwhile, the company's utility vehicles saw 7.0% sales growth. In total, Ford sold nearly 2.2 million vehicles in 2012.

General Motors (GM 29.82, +0.69) sales also grew by 5.0%, and the stock added 2.4% in response to the positive data.

Looking at foreign-based carmakers, Toyota Motor (TM 95.37, -0.62) shed 0.7% despite reporting a 9.0% rise in its December sales. During 2012, Toyota sold almost 2.1 million vehicles.

Consumer discretionary stocks outperformed after retailers reported their December same store sales. Overall, the results were mixed as ten retailers beat the Retail Metrics consensus, while eight fell short of expectations. Among the companies which reported notable beats, Ross Stores (ROST 58.78, +4.34) and Zumiez (ZUMZ 21.22, +1.72) surged 8.0% and 8.8% respectively. Ross Stores saw strength after its sales grew 6.0%, while the general consensus expected an increase of 3.0%. However, Zumiez rallied after the company's December sales slipped by just 1.0%, while analysts expected a 3.5% decline.

Among the names which reported disappointing sales growth, Limited Brands (LTD 44.71, -2.69) slumped 5.7% after its 3.0% monthly sales growth disappointed the market, which expected an uptick of 4.7%.

The Dow Jones Transportation Average settled higher by 0.6%, and the bellwether complex outperformed the broader market. With today's gains, the index has added over 4.5% since Monday's open. In addition, transports ended the session at their best level since July 2011. Among individual components, airlines displayed relative strength as United Continental (UAL 24.93, +0.74) and Delta Air Lines (DAL 12.58, +0.35) both gained near 3.0%.

Trucking stocks underperformed. CH Robinson (CHRW 62.34, -0.82) lost 1.3% and was the biggest laggard.

The market received several economic data points this morning. According to the ADP National Employment Report, employment in the nonfarm private business sector rose by 215K in December. This was above the 140K increase expected by the Briefing.com consensus.

The latest weekly initial jobless claims count totaled 372,000, which was worse than the 365,000 that had been expected by the Briefing.com consensus. The tally was above the revised prior week count of 362,000. As for continuing claims, they rose to 3.245 million from 3.201 million.

The weekly MBA Mortgage Applications decreased by 10.4%, which follows last week's 11.2% downtick.

Elsewhere, December Challenger Job Cuts declined 22.1%, and today's reading follows the prior month's 34.4% increase.

Tomorrow's economic data will be plentiful. At 8:30 ET, December nonfarm payrolls, nonfarm private payrolls, the unemployment rate, hourly earnings, and average workweek will all be reported. Lastly, November factory orders and December ISM services will hit the wires at 10:00 ET.DJ30 -21.19 NASDAQ -11.69 SP500 -3.05 NASDAQ Adv/Vol/Dec 1187/1.69 bln/1290 NYSE Adv/Vol/Dec 1709/707.1 mln/1344

3:30 pm : Crude oil lifted off its session low of $92.62 per barrel set in early morning pit action and crossed the breakeven line despite a stronger dollar index. However, the energy component fell back into the red on the announcement of the FOMC Minutes and settled 0.2% lower at $92.91 per barrel.

Natural gas managed to inch higher and into positive territory, where it briefly brushed a session high of $3.24 per MMBtu. It pulled-back heading into the close and settled 1.2% lower at $3.19 per MMBtu.

Precious metals fell during today's pit trade on pressure from the stronger dollar index. Gold spent its entire session in the red, brushing a session high of $1682.40 per ounce in morning action. It slipped to a session low of $1674.00 per ounce moments before it settled with a 0.8% loss at $1674.50 per ounce.

Silver slid to a session low of $30.69 per ounce despite briefly poking into positive territory in late morning action. It eventually settled at $30.74 per ounce, or 0.8% lower.DJ30 -38.77 NASDAQ -16.95 SP500 -5.21 NASDAQ Adv/Vol/Dec 1163/1400.3 mln/1313 NYSE Adv/Vol/Dec 1683/470 mln/1362

3:00 pm : The S&P 500 continues to hold near its opening level as trade enters the final hour.

Looking at upcoming earnings of note, Finish Line (FL 32.49, +0.89) and Mosaic (MOS 56.76, -0.75) will deliver their quarterly results before tomorrow's open. The Capital IQ consensus expects Finish Line to report earnings of $0.10 on $297.10 million in revenue. Meanwhile, Mosaic is expected to announce earnings of $0.98 on revenue of $2.56 billion.DJ30 -3.24 NASDAQ -5.58 SP500 -1.19 NASDAQ Adv/Vol/Dec 1268/1.25 bln/1182 NYSE Adv/Vol/Dec 1802/426.8 mln/1222

2:30 pm : The major averages have slid back near their opening levels after the Federal Reserve released the minutes from its December FOMC meeting. The markets appear to have focused on comments from several members who voiced concerns over the duration of the asset purchase program. In addition, some participants "thought that it would probably be appropriate to slow or to stop purchases well before the end of 2013."

In response to the commentary, gold fell 1.5% to its session low in the 1660.00 area, and the dollar index surged to a fresh high at 80.50. Also of note, Treasuries sold in response to the somewhat hawkish tone with the 10-yr yield ticking up to 1.888%.DJ30 -25.99 NASDAQ -8.11 SP500 -3.17 NASDAQ Adv/Vol/Dec 1259/1.17 bln/1187 NYSE Adv/Vol/Dec 1761/400.1 mln/1261

2:05 pm : The S&P 500 has slipped back near its flat line after the Federal Open Market Committee released the minutes from the December 12 meeting. The initial headlines suggested that several Committee members believe the asset purchasing program should be halted well before the end of 2013. Gold responded to the somewhat hawkish tone by slipping 1.1% to a fresh session low.

Shares of automakers are responding to December car sales data. Among the notable movers, Ford Motor (F 13.64, +0.44) is rising by 3.3% after the company reported a 5.0% increase in December sales. Meanwhile, the company's utility vehicles saw 7.0% sales growth. In total, Ford sold nearly 2.2 million vehicles in 2012.

General Motors (GM 29.81, +0.68) sales also grew by 5.0%, and the stock is adding 2.3% in response to the positive data.

Looking at foreign-based carmakers, Toyota Motor (TM 95.99, 0.00) is flat after its December sales rose by 9.0%. During 2012, Toyota sold almost 2.1 million vehicles.DJ30 -3.15 NASDAQ +0.35 SP500 +0.34 NASDAQ Adv/Vol/Dec 1361/1.05 bln/1086 NYSE Adv/Vol/Dec 1950/360.5 mln/1049

1:30 pm : Equities are holding their recent levels and the S&P 500 is adding 0.2%.

The Dow Jones Transportation Average is firmer by 1.2% as the bellwether complex trades well ahead of the broader market. With today's notable advance, the index has added over 5.0% since Monday's open. In addition, the average is now at its best level since July 2011. Among individual components, railroads CSX (CSX 20.63, +0.46) and Kansas City Southern (KSU 88.04, +1.93) are both up near 2.2%.

CH Robinson (CHRW 62.01, -1.14) is shedding 1.8% and is the only transportation component trading lower. Other freight carriers are seeing slim gains. JB Hunt (JBHT 61.36, +0.32) and Con-way (CNW 29.49, +0.14) are both up near 0.5%.DJ30 +11.97 NASDAQ +3.33 SP500 +2.31 NASDAQ Adv/Vol/Dec 1374/994.4 mln/1058 NYSE Adv/Vol/Dec 1990/326.9 mln/985

1:05 pm : Stocks opened today's session on a slightly lower note after yesterday's broad market rally pushed the S&P 500 to a gain of 2.5%. The benchmark index followed the cautious open with a steady climb back to its flat line. At midday, the index is adding 0.1% as it trades within two points of its five-year high established on September 14, 2012.

Financials were some of the top performers during yesterday's rally. However, the market focus is now turning to the next step in the debate as the country nears the debt ceiling. The special measures currently being undertaken by the Department of Treasury are expected to delay the breach of the ceiling for about two months. Also of note, recent reports have indicated Treasury Secretary Tim Geithner will leave his post by the end of January. In addition, the approval of a tax plan was met with less-than-positive feedback from rating agencies which said more action on the deficit will be needed. Among individual financials, Goldman Sachs (GS 130.55, -1.11) and Wells Fargo (WFC 34.87, -0.18) are both down over 0.5%.

The energy sector is outperforming the broader market despite little change in the price of crude oil. Among stocks moving on news, Forest Oil (FST 7.31, +0.40) is higher by 5.9% after the company announced an agreement to sell its South Texas properties for after-tax proceeds of $325 million.

Elsewhere, Transocean (RIG 49.65, +3.41) and BP (BP 43.25, +0.83) spiked higher after Bloomberg reported that Transocean will settle claims related to the Deepwater Horizon accident for approximately $1.5 billion.

With the start of a new month, retailers are reporting their December same store sales. Overall, the results have been mixed as ten retailers beat the Retail Metrics consensus, while eight fell short of expectations. Among the companies which reported notable beats, Ross Stores (ROST 58.52, +4.08) and Zumiez (ZUMZ 21.16, +1.66) are surging over 7.5% each. Ross Stores is seeing strength after its sales grew 6.0%, while the general consensus expected an increase of 3.0%. Zumiez however, is rallying after the company's December sales slipped by just 1.0%, while analysts expected a 3.5% decline.

Among the names which reported disappointing sales growth, Limited Brands (LTD 44.70, -2.70) is slumping 5.7% after its 3.0% monthly sales growth disappointed the market, which expected an uptick of 4.7%.

The market received several economic data points this morning. According to the ADP National Employment Report, employment in the nonfarm private business sector rose by 215K in December. This was above the 140K increase expected by the Briefing.com consensus.

The latest weekly initial jobless claims count totaled 372,000, which was worse than the 365,000 that had been expected by the Briefing.com consensus. The tally was above the revised prior week count of 362,000. As for continuing claims, they rose to 3.245 million from 3.201 million.

The weekly MBA Mortgage Applications decreased by 10.4%, which follows last week's 11.2% downtick.

Elsewhere, December Challenger Job Cuts declined 22.1%, and today's reading follows the prior month's 34.4% increase.

Key European averages ended the session on a mixed note. The United Kingdom's FTSE added 0.3% while France's CAC and Germany's DAX shed 0.3% each.

In the United Kingdom, consumer stocks outperformed. Retailer Next led the index with a 2.7% gain after the company raised its full-year profit guidance. Miners underperformed after leading the index during yesterday's rally. Antofagasta and Rio Tinto both lost near 0.8%.

In Germany, producers of basic materials weighed on the DAX. K+S slid 3.1% after BNP Paribas cut its price target for the chemical producer. Only seven stocks advanced and Infineon Technologies was the top performer, up 2.2%.

In France, consumer stocks were among the biggest laggards. L'Oreal lost 2.0% and Danone slipped 1.1%. Technology names saw relative strength as Gemalto and STMicroelectronics both gained near 1.3%.

Today's economic data will be topped off by the release of the minutes from the December Federal Open Market Committee meeting. The presentation will hit the wires at 14:00 ET.DJ30 +6.88 NASDAQ +2.65 SP500 +1.58 NASDAQ Adv/Vol/Dec 1389/916.9 mln/1031 NYSE Adv/Vol/Dec 2004/304.5 mln/970

12:30 pm : The S&P 500 is adding 0.2% as the benchmark index approaches its multi-year high set on September 14.

European markets have closed for the day, and the major averages ended on a mixed note. The United Kingdom's FTSE added 0.3% while France's CAC and Germany's DAX shed 0.3% each.

In the United Kingdom, consumer stocks outperformed. Retailer Next led the index with a 2.7% gain after the company raised its full-year profit guidance. Miners underperformed after leading the index during yesterday's rally. Antofagasta and Rio Tinto both lost near 0.8%.

In Germany, producers of basic materials weighed on the DAX. K+S slid 3.1% after BNP Paribas cut its price target for the chemical producer. Only seven stocks advanced and Infineon Technologies was the top performer, up 2.2%.

In France, consumer stocks were among the biggest laggards. L'Oreal lost 2.0% and Danone slipped 1.1%. Technology names saw relative strength as Gemalto and STMicroelectronics both gained near 1.3%.DJ30 -7.58 NASDAQ +2.28 SP500 +1.89 NASDAQ Adv/Vol/Dec 1319/835.1 mln/1064 NYSE Adv/Vol/Dec 1962/282.1 mln/1001

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

The energy sector is outperforming the broader market despite little change in the price of crude oil. Among stocks moving on news, Forest Oil (FST 7.35, +0.44) is higher by 6.4% after the company announced an agreement to sell its South Texas properties for after-tax proceeds of $325 million.

Elsewhere, Transocean (RIG 48.90, +2.66) and BP (BP 43.01, +0.59) spiked higher after Bloomberg reported that Transocean will settle claims related to the Deepwater Horizon oil spill for approximately $1.5 billion.

Also of note, coal stocks are seeing relative strength. The Market Vectors Coal ETF (KOL 26.10, +0.39) is adding 1.5%.DJ30 -3.97 NASDAQ +3.30 SP500 +1.30 NASDAQ Adv/Vol/Dec 1290/728.3 mln/1080 NYSE Adv/Vol/Dec 1902/249.3 mln/1041

11:30 am : The S&P 500 is adding 0.1% after climbing off its early lows.

Solar stocks are seeing notable strength and the Guggenheim Solar ETF (TAN 17.81, +1.39) is surging 8.5%. Earlier, SunPower (SPWR 8.10, +1.97) announced it has sold two California developments to MidAmerican Solar. In addition, Lazard upgraded SunPower to ‘Buy' from ‘Neutral.' As a result of the developments, SPWR is surging 32.8% and other solar names are moving higher as well. First Solar (FSLR 34.35, +2.36) and MEMC Electronic Materials (WFR 3.66, +0.22) are both up near 7.0%.DJ30 -7.09 NASDAQ +1.87 SP500 +0.99 NASDAQ Adv/Vol/Dec 1216/620.5 mln/1124 NYSE Adv/Vol/Dec 1829/220.1 mln/1078

11:00 am : The S&P 500 is registering marginal losses as the index looks to break above its unchanged line.

With the start of a new month, retailers are reporting their December same store sales. Overall, the results have been mixed as ten retailers beat the Retail Metrics consensus, while eight fell short of expectations. Among the companies which reported notable beats, Ross Stores (ROST 58.37, +3.93) and Zumiez (ZUMZ 20.90, +1.40) are surging over 7.0% each. Ross Stores is seeing strength after its sales grew 6.0%, while the general consensus expected an increase of 3.0%. Zumiez however, is rallying after the company's December sales slipped by just 1.0%, while analysts expected a 3.5% decline.

Among the names which reported disappointing sales growth, Limited Brands (LTD 44.51, -2.89) is slumping 6.1% after its 3.0% monthly sales growth disappointed the market, which expected an uptick of 4.7%.DJ30 -16.16 NASDAQ -1.22 SP500 -0.83 NASDAQ Adv/Vol/Dec 1145/518.8 mln/1150 NYSE Adv/Vol/Dec 1683/186.1 mln/1194

10:50 am : Feb crude oil came off its session low of $92.62 per barrel and briefly poked into positive territory. However, it pulled-back again in recent action and is currently down 0.3% at $92.88 per barrel.

Feb natural gas slid to a session low of $3.16 per MMBtu moments after floor trade opened and is now slightly above that level at $3.17 per MMBtu, or down 1.9%.

Feb gold dipped to a pit session low of $1675.30 per ounce but has been slowly inching higher in recent action. However, it is still down 0.5% at $1679.50 per ounce. Mar silver managed to recover into positive territory from its session low of $30.74 per ounce. It is now unchanged at $31.00 per ounce.DJ30 -28.29 NASDAQ -3.36 SP500 -2.07 NASDAQ Adv/Vol/Dec 1093/472.4 mln/1192 NYSE Adv/Vol/Dec 1575/171.8 mln/1275

10:00 am : The major averages continue to trade in the red and the S&P 500 is off by 0.2%.

Financials were some of the top performers during yesterday's rally. However, the market focus is now turning to the next step in the debate as the country nears the debt ceiling. The special measures currently being undertaken by the Department of Treasury are expected to delay the breach of the ceiling for about two months. In addition, the approval of a tax plan was met with less-than-positive feedback from rating agencies which said more action on the deficit is needed. Among individual financials, Goldman Sachs (GS 130.43, -1.23) and Wells Fargo (WFC 34.76, -0.29) are both down near 1.0%.DJ30 -30.89 NASDAQ -2.03 SP500 -2.32 NASDAQ Adv/Vol/Dec 971/236.2 mln/1235 NYSE Adv/Vol/Dec 1342/103.2 mln/1401

09:45 am : The major averages have seen an extension of the cautious pre-market sentiment. The S&P 500 is off by 0.3%.

Looking at the ten S&P 500 sectors, industrials, materials, and utilities are registering fractional gains. Meanwhile, financials and telecoms are seeing the biggest early weakness.

Apple (AAPL 545.22, -3.81) is shedding 0.7% after gaining over 3.0% during yesterday's rally.DJ30 -46.08 NASDAQ -6.66 SP500 -3.74 NASDAQ Adv/Vol/Dec 946/134.1 mln/1204 NYSE Adv/Vol/Dec 1292/75.8 mln/1392

09:16 am : [BRIEFING.COM] S&P futures vs fair value: -1.70. Nasdaq futures vs fair value: -4.50. Heading into the open, equity futures are pointing to a slightly lower start. The S&P 500 futures are off by 0.1%.

With retailers reporting their December same store sales, discretionary stocks will be in focus. In addition, automakers are reporting their monthly sales, and the market reaction to those stocks will bear watching as well.

Today's economic data will be topped off with a 14:00 ET release of the minutes from the December 12 Federal Open Market Committee meeting. In addition, retailers will be reporting their December same store sales and automakers will be announcing their December sales throughout the day.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: -4.00.

U.S. equity futures are near their pre-market highs and the S&P 500 futures are off by 0.1%.

Asian markets continued their climb as all but South Korea's Kospi (-0.6%) ended in positive territory. Regional bourses responded favorably to the uptick in China's Non-Manufacturing PMI, which rose to 56.1 from 55.6. Data from the rest of the region was quiet with Hong Kong's retail sales surging 9.5% year-over-year (4.5% expected).
In Japan, the Nikkei was closed.
In Hong Kong, the Hang Seng finished +0.4% to end at its best level in 19 months. Retailers Esprit and Luk Fook jumped 4.3% and 8.3% respectively to lead the charge. Elsewhere, port operator Cosco Pacific continued its recent outperformance, climbing 3.7%.
In China, the Shanghai Composite was closed.

Key European indices are mixed following yesterday's rally. Looking at economic data, Germany's unemployment was reported at 6.9%, while the number of unemployed ticked up by 3,000. This was better-than-expected as the general consensus forecast the loss of 10,000 jobs. Elsewhere, Greek bad loans increased by 50% during 2012. This pushed the number of nonperforming loans to 24% of all loans from 16% reported in December 2011. Lastly, Eurozone private loans slipped 0.8%, which was worse than the broadly expected decrease of 0.5%.
The United Kingdom's FTSE is adding 0.1%. Clothing retailer Next is advancing 2.2% after raising its full-year profit guidance. On the downside, miners are slipping. Randgold and Rio Tinto are both down near 1.5%. Earlier, the head of Rio Tinto's iron ore unit said he does not expect iron ore prices to stay at their current levels.
Germany's DAX is shedding 0.2% as producers of basic materials weigh. K+S is down 3.4% after BNP Paribas cut its price target for the stock. Infineon Technologies is the top advancer as it trades higher by 1.2%.
In France, the CAC is lower by 0.5% and most components are registering losses. Water supplier Veolia Environnement is shedding 2.4% after the company hired financial firms to assist with a debt offering.

08:35 am : S&P futures vs fair value: -0.60. Nasdaq futures vs fair value: -3.50. Equity futures have ticked up in reaction to better-than-expected ADP Employment Data. However, disappointing initial and continuing claims pushed futures off their pre-market highs. The S&P 500 futures are off by 0.1%.

According to today's ADP National Employment Report, employment in the nonfarm private business sector rose by 215K in December. This was above the 140K increase expected by the Briefing.com consensus.

The latest weekly initial jobless claims count totaled 372,000, which was worse than the 365,000 that had been expected by the Briefing.com consensus. The tally was above the revised prior week count of 362,000. As for continuing claims, they rose to 3.245 million from 3.201 million.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: -3.80. Nasdaq futures vs fair value: -8.80.

U.S. equity futures are modestly lower amid mixed global trade. The overnight sentiment follows yesterday's broad market rally which saw the S&P 500 gain 2.5%.

Taking a look at overseas markets:

China's Shanghai Composite and Japan's Nikkei remained closed while Hong Kong's Hang Seng added 0.4%.
In regional economic data:
China's non-manufacturing PMI was reported at 56.10, which showed improvement over the prior reading of 55.60.
Hong Kong's retail sales grew 9.5% year-over-year, which was ahead of the broadly expected 4.5%.
In news:
Standard Chartered warned that China may be facing higher default rates on loans if the country tries to sustain growth through debt.

Key European indices are trading lower. The United Kingdom's FTSE is registering fractional losses while Germany's DAX is down 0.4%, and France's CAC is shedding 0.6%.
Looking at economic data:
Germany's unemployment was reported at 6.9%, while the number of unemployed ticked up by 3,000. This was better-than-expected as the general consensus forecast the loss of 10,000 jobs.
Greek bad loans increased by 50% during 2012. This pushed the number of nonperforming loans to 24% of all loans from 16% reported in December 2011.
Eurozone private loans slipped 0.8%, which was worse than the broadly expected decrease of 0.5%.
In news:
Rio Tinto's head of the iron unit said he believes the recent surge in iron ore prices is a temporary development.

In U.S. corporate news:

Family Dollar (FDO 60.90, -3.14) is shedding 4.9% after reporting mixed earnings. The retailer missed its earnings expectations, while the company's revenue of $2.42 billion was reported ahead of the Capital IQ consensus forecast. In addition, FDO said comparable store sales increased 6.6% for the quarter.
Mellanox Technologies (MLNX 49.80, -11.39) is slumping 18.6% after the company lowered its fourth quarter guidance. The company now expects its revenue to fall between $119 and $121 million. This is well below the analyst forecast, which expected the company's top line to reach $148.6 million.

The weekly MBA Mortgage Applications decreased by 10.4%, which follows last week's 11.2% downtick.

Elsewhere, December Challenger Job Cuts declined 22.1%, and today's reading follows the prior month's 34.4% increase.

The market will receive a full slate of economic releases today. The December ADP Employment Change will be released at 8:15 ET. Weekly initial and continuing claims will be announced at 8:30 ET and the Federal Reserve will release the minutes from its December 12 policy meeting at 14:00 ET. Lastly, retailers will be reporting their same store sales throughout the day.

06:33 am : [BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -6.50.

06:33 am : Nikkei...Holiday......... Hang Seng...23398.60...+86.60...+0.40%.

06:33 am : FTSE...6022.62...-4.80...-0.10%. DAX...7756.64...-22.20...-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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
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questions@thestrategylab.com
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