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 Post subject: January 11th Friday Trade Results - Profit $2880.00
PostPosted: Sat Jan 12, 2013 12:36 pm 
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Joined: Sat Jan 10, 2009 2:06 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 @ $0.00 dollars or +0.00 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $2880.00 dollars or +2.88 points. Total Profit @ $2880.00 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=1411

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.

Stocks Rise For 2nd Week In A Row

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

NEW YORK (CNNMoney)
U.S. stocks finished little changed Friday, a day after the S&P 500 closed at a 5-year high, as investors digested earnings from Wells Fargo and a fresh batch of economic data.

The Dow Jones industrial average and Nasdaq rose 0.1%, while the S&P 500 shed less than 1 point.

Despite the day's muted moves, all three indexes finished higher for a second straight week. The Dow and S&P 500 added 0.4% for the week, while the Nasdaq rose 0.8%

Wells Fargo (WFC, Fortune 500), the first major bank to report quarterly results, posted a quarterly profit that beat Wall Street's expectations and sales that were roughly in line with forecasts. The results showed signs the mortgage refinance boom, which has been fueling bank profits, may be coming to an end as interest rates begin to rise. Wells Fargo's stock declined almost 2%.

Shares of Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500), Citigroup (C, Fortune 500), Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500), which are all on tap to report next week, also lost ground. The financial sector is expected to be the standout performer in an otherwise lackluster quarter for earnings growth.

Related: Wells Fargo earnings: Good but not great

S&P 500 companies are expected to report overall earnings growth of 2.4% for the last three months of 2012, according to FactSet Research. That's better than the 1% decline in the third quarter. But excluding the financial sector, earnings growth for S&P 500 companies is expected to be just 0.2%.

On the economic front, the Bureau of Labor Statistics reported that export prices fell 0.1% in December. The Census Bureau said the U.S. trade deficit widened much more sharply than expected -- 16% -- due to a rise in consumer goods brought in from overseas.

* Is Herblife a pyramid scheme?

The wider-than-expected deficit could signal a sharp slowdown in U.S. economic growth for the fourth quarter, after a 3.1% uptick in the third quarter, said Marc Chandler, global head of currency strategy at Brown Brothers Harriman. The first estimate for fourth-quarter GDP is due later this month.

Meanwhile, there was more bad news for Boeing (BA, Fortune 500) as All Nippon Airways reported an oil leak was discovered from the generator in the left engine of a 787 Dreamliner, adding to the recent troubles for that key aircraft. Boeing shares slid 2.5%, making it the biggest drag on the Dow.

* Boeing 787: The biggest lemon in history?

Shares of American Express (AXP, Fortune 500) moved higher after the credit card giant announced late Thursday that it was cutting 5,400 jobs, becoming the latest large financial firm to reduce its headcount.

Ford Motor reported it plans to hire 2,200 salaried staff this year, the largest addition of white collar workers in more than a decade, due to aggressive product introduction plans. Shares of Ford (F, Fortune 500) rose 1.2%.

Shares of Best Buy (BBY, Fortune 500) jumped more than 16% after reporting dismal holiday sales that nevertheless beat Wall Street's expectations. The company's sales at stores open at least a year fell by 1.4% in December, with flat sales in the United States.

Shares of BlackBerry maker Research in Motion (RIMM) surged even though the stock was downgraded by BMO Capital. The company will unveil gadgets than run on its BlackBerry 10 operating system later this month,

JC Penney (JCP, Fortune 500) shares tumbled after UBS analysts said the retailer's holiday sales will be worse than expected and downgraded the stock.

Fear & Greed Index

European markets were mixed in afternoon. ECB President Mario Draghi said Thursday that the central bank was seeing signs of stability returning to the eurozone, although the near term outlook for the economy remained weak.

Asian markets ended mixed, with the Nikkei adding 1.4%, after Japan's government unveiled a $117 billion fiscal stimulus package. Unable to match the Nikkei's momentum, the Shanghai Composite declined 1.8% and the Hang Seng lost 0.4%.

The dollar was weaker against the euro, as the ECB's unanimous decision to hold rates ended talk of a cut in the short term. The greenback gained versus the British pound and the Japenese yen.

Oil and gold prices edged lower.

The price on the 10-year Treasury rose, pushing the yield down to 1.87% from 1.89% late Thursday.

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Market Update

4:15 pm : The major averages saw little change during today's session, and the S&P 500 remained at its five-year high. However, equities slipped out of the gate as data out of China indicated the country's consumer price index rose by 2.5% year-over-year. The news put a damper on expectations for future stimulus and China's Shanghai Composite lost 1.8%. Domestically, traders looked to Wells Fargo (WFC 35.10, -0.30), which was the first financial to report its fourth quarter results.

The financial sector was the weakest performer and Wells Fargo lost 0.9%. The bank's quarterly report topped the Capital IQ earnings and revenue forecast, but turned out to be less upbeat below the surface. During the fourth quarter, Wells Fargo saw its margins compress to a multi-year low. In addition, mortgage originations dropped from $139 billion in the third quarter to $125 billion during the most-recent reporting period.

Elsewhere, American Express (AXP 61.24, +0.45) added 0.7% after the company pre-announced better-than-expected fourth quarter earnings. Additionally, American Express has announced plans to cut over 5,000 jobs.

The materials sector lagged due to underperformance from miners and steelmakers following hotter-than-expected Chinese inflation data. Earlier, BHP Billiton (BHP 76.66, -2.03) and Rio Tinto (RIO 55.65, -1.64) were both downgraded to ‘Neutral' from ‘Outperform' at Macquarie. The two miners settled lower by 2.6% and 2.9% respectively.

The consumer staples space was the top performing sector and the SPDR Consumer Staples Select Sector ETF (XLP 35.92, +0.16) ended higher by 0.5%. Though most components were mixed, tobacco stocks led the sector higher. Philip Morris (PM 89.23, +1.94) was the top industry performer after Goldman Sachs added the stock to its Conviction Buy List. Philip Morris gained 2.2% and other cigarette producers saw strength as well. Reynolds American (RAI 42.62, +0.36) and Lorillard (LO 117.02, +0.93) both gained near 0.9%.

With the holiday shopping season in the rearview mirror, the market has been receiving early reports concerned with holiday spending. Yesterday, Aeropostale (ARO 12.38, -0.86) lowered its earnings guidance which weighed on rival teen retailers. Though the stock proved to be resilient during yesterday's session, it ended lower by 6.5% today. Earlier, Piper Jaffray downgraded the stock to ‘Neutral' from ‘Overweight.' Additionally, Imperial Capital has cut its price target for Aeropostale to $15 from $18. Looking at peers, American Eagle Outfitters (AEO 19.14, -0.80) and Buckle (BKE 43.85, -0.33) lost 4.0% and 0.8% respectively.

Elsewhere, Best Buy (BBY 14.21, +2.00) surged 16.4%. This morning, the electronics retailer reported flat domestic comparable store sales while international sales declined by 6.4% year-over-year. With lowered expectations going into the holiday period, the market is receiving today's update as better-than-feared.

Overnight, aircraft manufacturer Boeing (BA 75.16, -1.93) returned to the headlines. Overnight reports from Reuters indicated that two more Dreamliner 787 jets have experienced structural issues. In response to the rash of recent issues, the United States Federal Aviation Administration has ordered a review of the aircraft's electrical systems.

A handful of economic data points were reported today. The trade deficit widened to $48.7 billion during November after a downwardly revised prior month deficit of $42.1 billion. Economists polled by Briefing.com had expected that the deficit would come in at $41.8 billion.

Export prices, excluding agriculture, decreased by 0.2% in December after they had decreased by 0.7% during the prior month. Excluding oil, import prices decreased by 0.1%, which follows the 0.2% decrease experienced in the prior month.

The December Treasury Budget showed a deficit of $260 million, which was narrower than the deficit of $1.0 billion expected by the Briefing.com consensus. The report has mattered little to market participants as equity indices did not respond to the news.

Week in Review: S&P 500 Inches to its Five-Year High

On Monday, stocks registered modest losses. With no economic data or notable earnings to dictate the tone, the major averages were trapped in a relatively narrow range. The S&P 500 opened in the red, and traded near its opening levels for the duration of the session. As a result, the benchmark index finished lower by 0.3%. Bank of America (BAC 11.63, -0.15) announced it has reached a settlement with Fannie Mae to resolve agency mortgage repurchase claims on loans originated and sold directly to Fannie Mae through December 31, 2008. The settlement is expected to reduce Bank of America's fourth quarter pretax income by about $2.7 billion.

Tuesday's session saw the S&P 500 end lower by 0.3% after spending the duration of the day in the red. With little economic data of note and below-average volume, the key indices traded in range bound fashion. Consumer discretionary stocks were in focus after Yum! Brands (YUM 66.87, -0.62) reaffirmed its full-year 2012 earnings guidance, but lowered the same-store sales estimates for its China division. As a result of the disappointing outlook, Yum! Brands slid 4.2% and other quick service restaurants traded lower as well.

On Wednesday, equities began the day on a positive note after Alcoa (AA 8.94, -0.03) kicked off the fourth quarter earnings season with a top line result which exceeded estimates. With no notable economic data, the remainder of the session was largely uneventful as the key indices retreated off their respective highs, ending with just a portion of their early gains. The S&P 500 added 0.3%. For-profit education names saw general weakness after Apollo Group (APOL 19.21, -0.02) reported its quarterly results. Although Apollo beat on earnings and revenue, its full-year revenue guidance was a disappointment. Shares of APOL lost 7.8% as a result.

Thursday started on a positive note after China's trade surplus expanded to $31.6 billion due to strong export growth. The upbeat open was followed by a late-morning stumble, but the S&P 500 showed resilience and climbed to fresh highs. The benchmark index ended with a gain of 0.8%. The financial sector paced the advance, and the SPDR Financial Select Sector ETF (XLF 17.11, -0.04) settled higher by 1.3%. The financial sector proxy ETF ended at a fresh 52-week high with most majors scheduled to announce their fourth quarter earnings next week.DJ30 +17.21 NASDAQ +3.87 SP500 -0.07 NASDAQ Adv/Vol/Dec 1230/1.72 bln/1225 NYSE Adv/Vol/Dec 1590/633.3 mln/1423

3:30 pm :

Crude oil traded in negative territory even with a sharp decline by the dollar index. The energy component dipped to a session low of $92.65 per barrel but managed to erase most of the loss as it settled just 0.2% below the unchanged line at $93.59 per barrel. Today's action left crude to settle the week with a 0.6% gain.
Natural gas extended yesterday's gains on better-than-anticipated inventory data as it lifted off its session low of $3.24 per MMBtu. It continued to advance higher and settled at its session high of $3.33 per MMBtu for a weekly gain of 1.2%.
Gold brushed a session high of $1676.90 per ounce moments after floor trade opened but tanked on headlines of Fed's Plosser stating that growth pick-up should lower the unemployment rate to near 7% by year end and that the Fed easing may backfire while fueling inflation. The yellow metal dipped further to a session low of $1653.10 per ounce and settled at $1660.40 per ounce. Despite today's weakness, gold booked a gain of 0.7% for the week.
Silver also fell deeper into the red on Plosser headlines after trading as high as $30.83 per ounce in early morning action. It touched a session low of $30.15 per ounce and settled at $30.41 per ounce, booking a gain of 1.7% for the week.

DJ30 +13.44 NASDAQ -0.75 SP500 +2.29 NASDAQ Adv/Vol/Dec 1213/1450.9 mln/1243 NYSE Adv/Vol/Dec 1435/420 mln/1556

3:05 pm : The S&P 500 is off by 0.1% as trade enters the final hour.

Next week, fourth quarter earnings will continue rolling in as more than fifty companies covered by Briefing.com will announce the results of their operations. Some of the more notable names on next week's earnings calendar include, eBay (EBAY 53.60, +0.60), General Electric (GE 21.14, -0.03), Intel (INTC 21.96, +0.16), and Lennar (LEN 40.77, -0.25). In addition, major financials are all scheduled to report their results during the second half of the week.

Of the notable names mentioned above, Lennar will report ahead of Tuesday's opening bell. The Capital IQ consensus expects the homebuilder to reveal earnings of $0.45 on $1.32 billion in revenue. An in-line report would translate to year-over-year bottom line growth of more than 180%.DJ30 -3.11 NASDAQ -1.37 SP500 -2.69 NASDAQ Adv/Vol/Dec 1128/1.31 bln/1325 NYSE Adv/Vol/Dec 1327/383.1 mln/1653

2:30 pm : The S&P 500 is off by 0.1% as the index nears its session high.

With the holiday shopping season in the rearview mirror, the market has been receiving early reports concerned with holiday spending. Yesterday, Aeropostale (ARO 12.52, -0.72) lowered its earnings guidance which weighed on rival retailers. Though the stock proved to be resilient during yesterday's session, it trades lower by 5.4% today. Earlier, Piper Jaffray downgraded the stock to ‘Neutral' from ‘Overweight.' Additionally, Imperial Capital has cut its price target for Aeropostale to $15 from $18. Looking at peers, American Eagle Outfitters (AEO 19.32, -0.61) and Buckle (BKE 43.76, -0.42) are down 3.1% and 1.0% respectively.

On the upside, Best Buy (BBY 14.05, +1.84) is surging 15.1%. This morning, the electronics retailer reported flat domestic comparable store sales while international sales declined by 6.4% year-over-year. With lowered expectations going into the holiday period, the market is receiving today's update as better-than-feared.DJ30 +8.89 NASDAQ +2.37 SP500 -1.12 NASDAQ Adv/Vol/Dec 1148/1.21 bln/1274 NYSE Adv/Vol/Dec 1398/355.4 mln/1564

2:00 pm : Equities are holding their recent levels, and the S&P 500 is off by 0.2%.

The December Treasury Budget showed a deficit of $260 million, which was narrower than the deficit of $1.0 billion expected by the Briefing.com consensus. The report has mattered little to market participants as equity indices did not respond to the news.DJ30 -4.18 NASDAQ -0.81 SP500 -2.61 NASDAQ Adv/Vol/Dec 1105/1.11 bln/1309 NYSE Adv/Vol/Dec 1288/328.3 mln/1671

1:35 pm : Quiet trade continues and the S&P 500 is down 0.1%.

The Dow Jones Transportation Average is shedding 0.2% as truckers weigh. Con-way (CNW 30.35, -0.41) and JB Hunt (JBHT 60.98, -0.42) are down 1.3% and 0.7% respectively.

On the upside, airlines are extending the relative strength observed in recent weeks. Alaska Air (ALK 46.55, +0.58) and United Continental (UAL 25.75, +0.36) are both adding near 1.5%.

Also of note, aircraft manufacturer Boeing (BA 74.90, -2.19) has returned to headlines. Overnight reports from Reuters indicated that two more Dreamliner 787 jets have experienced structural issues. In response to the rash of recent issues, the United States Federal Aviation Administration has ordered a review of the aircraft's electrical systems.DJ30 +4.50 NASDAQ +0.74 SP500 -1.85 NASDAQ Adv/Vol/Dec 1120/1.01 bln/1283 NYSE Adv/Vol/Dec 1294/304.8 mln/1635

1:05 pm : The S&P 500 began today's session on a slightly lower note amid mixed overseas data. In China, the consumer price index rose by 2.5% year-over-year which fueled chatter suggesting the hotter-than-expected reading may make future economic stimulus less likely. Following the lower open, the benchmark index slipped to a session low in the 1467 area, and has since returned near the middle of its trading range. At midday, the S&P 500 is off by 0.2%.

Financials are lagging the broader market after Wells Fargo (WFC 34.94, -0.46) reported its fourth quarter results. The quarterly report topped the Capital IQ earnings and revenue forecast, but turned out to be less upbeat below the surface. During the fourth quarter, Wells Fargo saw its margins compress to a multi-year low. In addition, mortgage originations dropped from $139 billion in the third quarter to $125 billion during the most-recent reporting period.

Looking at other majors, Bank of America (BAC 11.57, -0.21) is down 1.8% and JPMorgan Chase (JPM 45.96, -0.19) is slipping 0.4%.

Elsewhere, American Express (AXP 61.22, +0.44) is adding 0.7% after the company pre-announced better-than-expected fourth quarter earnings. Additionally, American Express has announced plans to cut over 5,000 jobs.

Stocks in the materials space are among the weakest performers as miners and steelmakers weigh following hotter-than-expected Chinese inflation data. Earlier, BHP Billiton (BHP 76.62, -2.07) and Rio Tinto (RIO 55.72, -1.57) were both downgraded to ‘Neutral' from ‘Outperform' at Macquarie. The two miners are both down near 2.7%.

Looking at steel producers, Cliffs Natural Resources (CLF 36.18, -1.56) is a notable laggard, down 4.1%. Meanwhile, the Market Vectors Steel ETF (SLX 49.10, -0.77) is shedding 1.5%.

The consumer staples space is the top performing sector as the SPDR Consumer Staples Select Sector ETF (XLP 35.82, +0.06) trades higher by 0.2%. Though most components are mixed, tobacco stocks are outperforming. Philip Morris (PM 89.01, +1.72) is the top industry performer after Goldman Sachs added the stock to its Conviction Buy List. Philip Morris shares trade higher by 2.0% and other cigarette producers are seeing strength as well. Reynolds American (RAI 42.48, +0.22) and Lorillard (LO 117.41, +1.32) are seeing respective gains of 0.5% and 1.1%.

The trade deficit widened to $48.7 billion during November after a downwardly revised prior month deficit of $42.1 billion. Economists polled by Briefing.com had expected that the deficit would come in at $41.8 billion.

Export prices, excluding agriculture, decreased by 0.2% in December after they had decreased by 0.7% during the prior month. Excluding oil, import prices decreased by 0.1%, which follows the 0.2% decrease experienced in the prior month.

Key European indices entered the weekend on a slightly positive note. France's CAC and Germany's DAX both added 0.1%, and the United Kingdom's FTSE gained 0.3%.

In France, Cap Gemini gained 2.3% after peer Infosys raised its full-year guidance. Construction company Bouygues advanced 2.2% after increasing its stake in Buygues Telecom by nearly $900 million.

Germany's DAX was supported by exporters. Daimler added 0.2% and Volkswagen gained 1.5%. Also of note, business software consultant SAP slid 1.3% despite launching a faster version of its software suite.

In the United Kingdom, International Consolidated Airlines Group led the way with a gain of 5.4% after UBS upgraded the stock. On the downside, miners lagged after China's CPI data pointed to stronger inflationary pressure than what was expected. Antofagasta and BHP Billiton both lost over 2.0%.

Today's economic data will be rounded out by the December Treasury budget. The report will be released at 14:00 ET.DJ30 +4.20 NASDAQ -2.65 SP500 -2.36 NASDAQ Adv/Vol/Dec 1057/925.1 mln/1331 NYSE Adv/Vol/Dec 1270/281.8 mln/1649

12:35 pm : The S&P 500 is off by 0.2% as the main indices remain confined to a tight range.

Key European indices entered the weekend on a slightly positive note. France's CAC and Germany's DAX both added 0.1%, and the United Kingdom's FTSE gained 0.3%.

In France, Cap Gemini gained 2.3% after peer Infosys raised its full-year guidance. Construction company Bouygues advanced 2.2% after increasing its stake in Buygues Telecom by nearly $900 million.

Germany's DAX was supported by exporters. Daimler added 0.2% and Volkswagen gained 1.5%. Also of note, business software consultant SAP slid 1.3% despite launching a faster version of its software suite.

In the United Kingdom, International Consolidated Airlines Group led the way with a gain of 5.4% after UBS upgraded the stock. On the downside, miners lagged after China's CPI data pointed to stronger inflationary pressure than what was expected. Antofagasta and BHP Billiton both lost over 2.0%.DJ30 +2.51 NASDAQ -3.30 SP500 -2.64 NASDAQ Adv/Vol/Dec 1037/833.5 mln/1320 NYSE Adv/Vol/Dec 1231/259.8 mln/1683

12:05 pm : The S&P 500 is off by 0.1% as the index continues to climb back near its unchanged level.

Stocks in the materials space are among the weakest performers as miners and steelmakers weigh. Earlier, BHP Billiton (BHP 76.60, -2.09) and Rio Tinto (RIO 55.94, -1.35) were both downgraded to ‘Neutral' from ‘Outperform' at Macquarie. The two miners are seeing respective losses of 2.6% and 2.4%.

Looking at steel producers, Cliffs Natural Resources (CLF 36.12, -1.62) is a notable laggard, down 4.3%. Meanwhile, the Market Vectors Steel ETF (SLX 49.08, -0.79) is shedding 1.6%.DJ30 +9.10 NASDAQ -1.75 SP500 -1.62 NASDAQ Adv/Vol/Dec 1043/724.1 mln/1280 NYSE Adv/Vol/Dec 1267/236.9 mln/1627

11:30 am : The S&P 500 is hovering one point above its session low, down 0.2%.

Financials are lagging the broader market after Wells Fargo (WFC 35.00, -0.40) reported its fourth quarter results. The quarterly report topped the Capital IQ earnings and revenue forecast, but turned out to be less upbeat below the surface. During the fourth quarter, Wells Fargo saw its margins compress to a multi-year low. In addition, mortgage originations dropped from $139 billion in the third quarter to $125 billion during the most-recent reporting period.

Elsewhere, American Express (AXP 60.87, +0.08) is adding 0.1% after the company pre-announced better-than-expected fourth quarter earnings. Additionally, American Express has announced plans to cut over 5,000 jobs.

Looking at other majors, Bank of America (BAC 11.60, -0.18) is down 1.5% and JPMorgan Chase (JPM 45.90, -0.25) is slipping 0.5%.DJ30 -4.66 NASDAQ -6.43 SP500 -3.25 NASDAQ Adv/Vol/Dec 988/623.8 mln/1323 NYSE Adv/Vol/Dec 1159/212.2 mln/1722

11:00 am : The major averages continue to trade in the red, and the S&P 500 is off by 0.2%.

The consumer staples space is the top performing sector as the SPDR Consumer Staples Select Sector ETF (XLP 35.84, +0.08) trades higher by 0.2%. Though most components are mixed, tobacco stocks are outperforming. Philip Morris (PM 89.27, +1.98) is the top industry performer after Goldman Sachs added the stock to its Conviction Buy List. Philip Morris shares trade higher by 2.3% and other cigarette producers are seeing strength as well. Reynolds American (RAI 42.50, +0.24) and Lorillard (LO 117.00, +0.91) are both up near 0.5%.DJ30 -6.87 NASDAQ -3.75 SP500 -2.61 NASDAQ Adv/Vol/Dec 1022/492.8 mln/1258 NYSE Adv/Vol/Dec 1228/176.7 mln/1631

10:35 am : Commodities have been volatile this morning with big moves in the dollar index, oil, gold, silver nat gas and copper.

The dollar index tanked this morning as the euro spiked higher and this did provide some price support to commodities. However, gold, silver, copper and oil are still down notable.

Feb crude is currently -1.1% at $92.81 and is just above its current LoD. Natural gas, on the other hand, has been in positive all morning and just recently hit a new session high of $3.28/MMBtu. In current action, nat gas is +2.2% at $3.26/MMBtu.

Gold and silver simply tanked earlier this morning and are now back near session lows. Currently, Feb gold is -1.2% at $1657.40/oz, while Mar silver is -2.2% at $30.23/oz.DJ30 -15.75 NASDAQ -4.36 SP500 -3.24 NASDAQ Adv/Vol/Dec 976/404.4 mln/1251 NYSE Adv/Vol/Dec 1161/153 mln/1648

10:05 am : The S&P 500 is down 0.2% after slipping to a fresh session low.

Technology stocks are outperforming the broader market, and the SPDR Technology Select Sector ETF (XLK 29.53, -0.02) is off by 0.1%. Looking at notable movers contributing to the relative strength, Infosys (INFY 51.91, +7.96) is surging 18.1% after beating on earnings. In addition, the business consulting company raised its full-year 2013 earnings and revenue guidance above consensus. Peers Wipro (WIT 9.87, +0.69) and Cognizant Technology (CTSH 78.33, +3.28) are higher by 7.5% and 4.4% respectively.DJ30 -18.89 NASDAQ -3.51 SP500 -3.13 NASDAQ Adv/Vol/Dec 1025/223.5 mln/1118 NYSE Adv/Vol/Dec 1210/105.1 mln/1532

09:45 am : The initial minutes of the session have seen an extension of the bearish pre-market sentiment. The S&P 500 is off by 0.1%.

Looking at the early sector alignment, consumer staples and utilities are outperforming. Meanwhile, the financial sector is the most notable laggard.

Wells Fargo (WFC 34.76, -0.64) is down 1.9% after reporting its fourth quarter results. Though the bank exceeded the Capital IQ earnings and revenue forecast, its margins have reached a multi-year low. In addition, mortgage originations grew at a slower rate than originally projected.

The December Treasury budget will be released at 14:00 ET.DJ30 -7.21 NASDAQ +3.01 SP500 -1.07 NASDAQ Adv/Vol/Dec 1142/129.5 mln/939 NYSE Adv/Vol/Dec 1356/76.2 mln/1304

09:20 am : S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -1.80. Heading into the open, equity futures are pointing lower. The S&P 500 futures are off by 0.1%.

Looking at pre-market movers, Wells Fargo (WFC 34.80, -0.60) is down 1.7%. The financial beat on earnings and revenue, but the stock is trading lower in pre-market after Wells Fargo reported further contraction in its margins, as well as lower-than-expected mortgage originations.

Elsewhere, Chevron (CVX 111.18, +0.71) is adding 0.6% after the energy giant said it expects strong fourth quarter results.

Today's economic data will be rounded out by the December Treasury budget. The report will be released at 14:00 ET.

09:02 am : [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: -1.30.

U.S. equity futures remain flat 90 minutes ahead of the open.

Asian markets ended mostly lower despite racing to early gains at the open as the hotter than expected Chinese CPI (2.5% year-over-year actual v. 2.3% expected) caused some concern among investors. Selling was most dramatic in China's Shanghai Composite (-1.8%), but many of the regional bourses finished in the red. However, Japan's Nikkei (+1.4%) was a notable outperformer after the Japanese government launched a JPY10.3 trillion stimulus package. The government suggests the new measures should increase GDP by 2.0%. Bank of Korea was the latest central bank in the region to stand pat, holding its key rate at 2.75%. Data flow was light as India's trade deficit narrowed to $17.7 billion ($18.5 billion expected, $19.3 billion previous).
In Japan, the Nikkei closed higher by 1.4% to end with its ninth straight week of gains. Exports were once again the leaders as Mazda Motor rallied 4.6% and Canon jumped 2.3%. Strong gains could also be seen in construction names with Hitachi Construction climbing 2.2% to lead the space higher.
Hong Kong's Hang Seng shed 0.4% as the Chinese inflation data weighed. Growth sensitive Chinese names were under pressure as aluminum maker Chalco and oil giant Cnooc shed 3.0% and 1.9% respectively.
In China, the Shanghai Composite ended lower by 1.8% as traders booked profits on the pickup in inflation. Real Estate names saw heavy selling as Poly Real Estate tumbled 4.5% and Gemdale lost 4.1%. Elsewhere, spirit makers Kweichow Moutai and Luzhou Laojiao both fell nearly 2.0% after Hainan province banned the consumption of alcohol by government officials during business receptions.

European indices are seeing little change. Looking at regional economic data, Spain reported a 7.2% year-over-year drop in industrial production. The reading was well below the broadly expected decline of 1.5%. The United Kingdom's industrial production decreased by 2.4% year-over-year, while a downtick of 1.9% was generally expected. French current account reading showed a deficit of EUR2.90 billion, which matched the previous reading. Looking at news, Moody's downgraded the Cypriot government bond rating to ‘Caa3' from ‘B3' as the sovereign struggles to secure a bailout. JPMorgan lowered its forecast for Germany's fourth quarter GDP growth. The bank now expects Germany will report a 2.0% contraction. This is expected to result in a Eurozone fourth quarter GDP contraction of 1.8%.
France's CAC is off by 0.3% and industrials are underperforming. Cie de St-Gobain and Lafarge are both down in excess of 1.0%. Cap Gemini is up 3.0% after rival Infosys raised its full-year guidance.
Germany's DAX is flat. Software company SAP is down 1.6% despite seeing early strength after revealing a faster version of its Business Suite.
The United Kingdom's FTSE is adding 0.2% and financials are seeing strength. Aviva and Barclays are up 2.9% and 1.7% respectively. Earlier, Aviva was upgraded by Citigroup to ‘Buy' from ‘Neutral.' On the downside, Tullow Oil is sliding 4.9% after the company said it will write off nearly $300 million in 2012.

08:35 am : [BRIEFING.COM] S&P futures vs fair value: +0.70. Nasdaq futures vs fair value: flat. Equity futures saw little reaction to the latest trade balance and export/import prices. The S&P 500 futures are registering marginal gains.

The trade deficit widened to $48.7 billion during November after a downwardly revised prior month deficit of $42.1 billion. Economists polled by Briefing.com had expected that the deficit would come in at $41.8 billion.

Export prices, excluding agriculture, decreased by 0.2% in December after they had decreased by 0.7% during the prior month. Excluding oil, import prices decreased by 0.1%, which follows the 0.2% decrease experienced in the prior month.

08:03 am : [BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -1.80.

U.S. equity futures are slightly lower amid cautious European trade. The S&P 500 futures are off by 0.1%.

Looking at overseas developments:

Asian markets were mixed. China's Shanghai Composite lost 1.8%, Hong Kong's Hang Seng shed 0.4%, and Japan's Nikkei gained 1.4%.
In economic data:
China's CPI rose by 2.5% year-over-year, which was ahead of the generally expected uptick of 2.3%. Meanwhile, the country's PPI declined by 1.9% year-over-year, slightly cooler than the expected decline of 1.8%.
Japan's adjusted current account came in at JPY0.23 trillion, below the expected reading of JPY0.31 trillion.
In news:
Japan's Nikkei rallied after the country's government approved $116 billion in stimulus measures.
China's Shanghai Composite underperformed after the country reported CPI data, which suggested inflation may prevent further stimulus measures from being implemented.

European indices are seeing little change as midday nears. France's CAC is off by 0.1% while Germany's DAX and the United Kingdom's FTSE are both adding 0.2%.
In economic data:
Spain reported a 7.2% year-over-year drop in industrial production. The reading was well below the broadly expected decline of 1.5%.
The United Kingdom's industrial production decreased by 2.4% year-over-year, while a downtick of 1.9% was generally expected.
French current account reading showed a deficit of EUR2.90 billion, which matched the previous reading.
Looking at news:
Moody's downgraded the Cypriot government bond rating to ‘Caa3' from ‘B3' as the sovereign struggles to secure a bailout.
JPMorgan lowered its forecast for Germany's fourth quarter GDP growth. The bank now expects Germany will report a 2.0% contraction. This is expected to result in a Eurozone fourth quarter GDP contraction of 1.8%.

In U.S. corporate news:

Boeing (BA 76.00, -1.09) is down 1.4% after Reuters reported that two more structural faults were discovered on separate flights in Japan. In addition, U.S. Federal Aviation Administration is expected to announce a review of the troubled aircrafts at press conference scheduled for 9:30 ET.
Best Buy (BBY 12.50, +0.29) is rising by 2.4%. This morning, the electronics retailer reported flat domestic comparable store sales while international sales declined by 6.4% year-over-year. With lowered expectations going into the holiday period, the market is receiving today's update as better-than-feared.
Ford Motor (F 14.04, +0.21) is higher by 1.5% after Goldman Sachs added the stock to its Conviction ‘Buy' List.
J.C. Penney (JCP 18.40, -0.75) is sliding 3.9% following a UBS downgrade to ‘Sell' from ‘Neutral.'

November trade balance, export prices ex-agriculture, and import prices ex-oil will all be reported at 8:30 ET. Lastly, the U.S. Treasury will release its December budget at 14:00 ET.

06:39 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -2.00.

06:39 am : Nikkei...10801.57...+148.90...+1.40%. Hang Seng...23264.07...-90.20...-0.40%.

06:39 am : FTSE...6106.79...+5.30...+0.10%. DAX...7710.99...+2.50...0.00.

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 Image@ http://stocktwits.com/wrbtrader

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