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 Post subject: January 17th Thursday Trade Results - Profit $1480
PostPosted: Fri Jan 18, 2013 12:54 am 
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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

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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 @ $720.00 dollars or +7.20 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $760.00 dollars or +0.76 points. Total Profit @ $1480.00 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 on the Freenode IRC network (chat room no longer located on the Othernet IRC network). You can read today's ##TheStrategyLab 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=1417

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.

Dow Ends Near 5-Year High

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

NEW YORK (CNNMoney)
U.S. stocks rallied Thursday, with the Dow closing near a 5-year high, as upbeat reports on the economy offset mixed corporate results.

The Dow Jones industrial average, the S&P 500 and the Nasdaq all rose more than 0.6%, with the S&P 500 closing at a new 5-year high.

The advance came after the government reported a sharp rise in the number of new homes being built in December. Home Depot (HD, Fortune 500) was the top gainer on the Dow, while hombuilders PulteGroup (PHM)and Toll Brothers (TOL) both gained more than 3%.

Investors also welcomed news that first-time claims for unemployment benefits fell to a five-year low last week.

The drop in unemployment claims raised hopes the U.S. economy is gaining "traction," said Doug Roberts, chief market strategist for Channel Capital Research. The report bodes well for the job market, he said, which should help support the economy by boosting consumers' spending power.

"The initial claims number triggered the rally," said Roberts. "Everything is linked to consumer spending."

Despite the improved economic outlook, bank stocks were among the worst performers.

Bank of America (BAC, Fortune 500) shares fell 4.4% after the company reported earnings that were slightly better than analysts had expected, although the results were impacted by various charges stemming from BofA's legal problems.

Citigroup (C, Fortune 500) shares sank 3% after it reported profits that missed expectations, partly due to high legal costs amounting to $1.3 billion. Chief Executive Michael Corbat cited a "challenging" environment.

After the market closed, Intel (INTC, Fortune 500) said it earned $3.2 billion, or 48 cents per share, in the fourth quarter. The chipmaker reported $13.5 billion in revenue for the quarter, matching analysts' expectations.

American Express (AXP, Fortune 500) said fourth quarter earnings fell 45% to 56 cents per share. The results included a restructuring charge and other one-time items. Capital One (COF, Fortune 500) said earnings surged 60% in the quarter to $1.41 per share, driven by acquisitions including its purchase of ING Direct.

"It's been a real mixed bag with the numbers," said Ben Schwartz, chief market strategist at Lightspeed Financial.

@ Why aren't investors scared?

Boeing (BA, Fortune 500) was in focus after officials Europe, India and Japan joined the Federal Aviation Administration after it grounded all Dreamliner planes. They cited worries about onboard lithium-ion batteries that have caught fire twice recently. Shares rose 1%, recovering from sharp losses on Wednesday.

Shares of BlackRock (BLK, Fortune 500) rose after the world's largest asset manager reported better-than-expected earnings.

Overall, S&P 500 companies are expected to report earnings growth of 3.2% for the last three months of 2012, according to S&P's Capital IQ.

"People weren't expecting a great earnings season, and they're not getting one," said Rex Macy, chief investment officer at Wilmington Trust Investment Advisors. "They're getting a decent one. Earnings are meeting lowered expectations."

Still the economic recovery is "sound" and there is a certain level of "comfort" in the market, said Macy. The main risk, he added, is that officials in Washington will fail to resolve the crisis over the nation's borrowing limit.

"If Washington doesn't mess things up, we should be fine," he said.

Shares of Herbalife (HLF) fell after the vitamin supplement company said it would likely incur temporary expenses relate to "recent events." Activist investor Bill Ackman, who runs the $11 billion hedge fund Pershing Square, has called Herbalife a pyramid scheme and publicly said that he's betting $1 billion that its stock will fall to zero. On the other side is Dan Loeb, who runs Third Point. He's taken an 8% stake in Herbalife and says Ackman's claims are preposterous.

CBS (CBS, Fortune 500) shares jumped after the company announced it would take its American outdoor division, which runs billboards, and convert it into a real estate investment trust. It's planning to outright sell its European and Asian outdoor operations.

Mining giant Rio Tinto (RIO) replaced its CEO after taking a $14 billion writedown on its aluminum and coal businesses.

@ Fear & Greed Index showing extreme greed

European markets closed higher. The FTSE 100 (UKX) in London rose 0.5%, the CAC 40 (CAC40) in Paris gained nearly 1% and the Dax (DAX) in Frankfurt added 0.6%. In Asia, Japan's Nikkei closed narrowly higher, but the Hang Seng slipped and the Shanghai Composite fell more than 1%.

Oil prices jumped 1.3% to $95.48 a barrel. Gold was up nearly $5 to $1,688 an ounce. The yield on the 10-year Treasury note was unchanged at 1.87%. The U.S. dollar gained versus the Japanese yen and British pound, but fell against the euro.

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Market Update

4:20 pm : The major averages opened today's session on a strong note after weekly initial claims and housing starts were reported ahead of expectations. Meanwhile, a disappointing Philadelphia Fed Survey was not enough to cool optimism. Key indices spent the duration of the day in a steady upward climb, and the S&P 500 made its biggest advance in more than a week to end higher by 0.6%.

The market saw notable support from homebuilders after December housing starts data indicated the demand for fresh construction projects remains strong. Among individual builders, PulteGroup (PHM 20.37, +1.03) and Lennar (LEN 41.94, +1.42) saw respective gains of 5.3% and 3.5%. Meanwhile, the SPDR Homebuilders ETF (XHB 28.15, +0.51) settled higher by 1.9%.

While builder shares registered broad gains, Hovnanian Enterprises (HOV 5.95, -0.05) shed 0.8%, and was a notable laggard. In addition, the stock has seen heavy option activity with February $6.00 puts garnering interest.

The strength in homebuilders helped discretionary stocks outperform the remaining S&P 500 sectors. On the downside, financials lagged after Bank of America (BAC 11.28, -0.50) and Citigroup (C 41.24, -1.24) reported earnings which did not please the market. The two lost 4.2% and 2.9% as a result. Though most sector components have already delivered their quarterly results, a handful of names have yet to report. Following today's close, American Express (AXP 60.74, +0.12) will announce its fourth quarter earnings. In addition, the market will receive Morgan Stanley's (MS 20.75, +0.21) report ahead of tomorrow's open.

A familiar storyline was revisited today when morning reports indicated that European authorities along with the Federal Aviation Administration have ordered all Boeing (BA 75.26, +0.26) 787 flights to be halted. Boeing shares sold off on the news, but turned higher after Bloomberg reported that faulty batteries may have been the cause of electrical issues aboard the Dreamliner.

While the market displayed strength all around, Apple (AAPL 502.68, -3.41) did not participate in the rally. The largest tech stock shed 0.7% after yesterday's comments from technical analyst Tom Demark sent the stock higher by 3.0%.

In acquisition news, K-Swiss (KSWS 4.71, +1.52) soared 47.7% after the footwear manufacturer agreed to be acquired by E.Land World for $4.75 per share. The transaction price represents a 49.0% premium to K-Swiss' Wednesday closing price.

Crude oil rose by 1.1% and settled above $95.00 after a hostage situation in Algeria fueled supply concerns.

Another item of note lied in the CBOE Volatility Index (VIX 13.67, +0.25), which added 1.9%. The volatility measure spent the majority of the session in the red before crossing into positive territory during the last hour of trade as the S&P 500 slipped off its highs.

Today's NYSE floor volume was just north of 700 million shares, which lied in-line with its 100-day average.

Tomorrow's economic data will be limited to the January Michigan Sentiment, which is scheduled for a 9:55 ET release. Among notable earnings, General Electric (GE 21.30, +0.18) and Schlumberger (SLB 73.37, +0.15) will report their quarterly results prior to the opening bell.DJ30 +84.79 NASDAQ +18.46 SP500 +8.31 NASDAQ Adv/Vol/Dec 1640/1.71 bln/790 NYSE Adv/Vol/Dec 2285/710.0 mln/719

3:30 pm : Feb crude oil advanced steadily on better-than-anticipated initial claims and Dec housing starts data released this morning and on news of a hostage situation at a BP (BP)/Statoil (STO) gas facility in Algeria. Prices rose as high as $96.04 per barrel in afternoon action and settled with a solid 1.3% gain at $95.50 per barrel.

Feb natural gas opened pit trade in negative territory at its session low of $3.40 per MMBtu. However, prices rallied into positive territory following strong inventory data that showed a draw of 148 bcf when a draw of 136 to 137 bcf was anticipated. Natural gas advanced to a session high of $3.53 per MMBtu and settled with a 1.5% gain at $3.49 per MMBtu.

Feb gold slid to a floor session low of $1666.40 per ounce following the bullish economic data. However, the yellow metal gained steam and rallied into positive territory about half hour into the equity market open. It popped again to a session high of $1697.80 per ounce in afternoon action, but a pull-back heading into the close left gold to settle with a 0.4% gain at $1690.50 per ounce.

Mar silver also fell to a pit session low of $31.05 per ounce moments after floor trade opened, and as gold, popped into the black in morning action. It brushed a session high of $31.93 per ounce and eventually settled at $31.82 per ounce, or 0.9% higher. DJ30 +100.01 NASDAQ +18.76 SP500 +9.97 NASDAQ Adv/Vol/Dec 1610/1.33 bln/809 NYSE Adv/Vol/Dec 2283/436.2 mln/709

3:00 pm : The equity market is extending its breakout to multi-year highs today, catalyzed by better-than-expected economic data and broad-based buying interest. Strikingly, the rally has been forged without the full thrust of participation from the financial sector (+0.1%) and Apple (AAPL 504.95, -$1.14).

The consumer discretionary (+1.2%), energy (+1.2%), industrials (+1.1%) and health care (+0.9%) sectors are pacing today's advance, which has a great deal of equilibrium to it based on the standing of the major averages, each of which is up 0.7% - 0.8%. It is a very mechanized trade so to speak and happens to coincide with discernible weakness in the Treasury market where losses have been seen across the yield curve, but especially at the back end. The 10-yr note is down 16 ticks (yield 1.88%) and is trading near its session low while the equity market hangs near its session high.

It can be argued that today's gains are being fueled by an asset reallocation trade that is both deliberate and indiscriminate as it relates to the major averages. The Russell 2000 and S&P 400 Midcap Index are up 1.0% and 0.9%, respectively.

At the same time, the CBOE Volatility Index (VIX 13.32, -0.10) continues to sink to multi-year lows in a reflection of increased complacency about the prospect of a major move up or down in the next 30 days. That said, this market is oriented with a bullish bias that has left little room for the prospect of bad outcomes anytime soon. Participants should be cognizant that such a disposition increases the risk of a material selloff in the event a future unknown has a negative orientation and prompts a renewed appreciation for risk aversion.DJ30 +109.41 NASDAQ +22.21 SP500 +10.88 NASDAQ Adv/Vol/Dec 1629/1.23 bln/786 NYSE Adv/Vol/Dec 2297/404.4 mln/683

2:30 pm : Equities are continuing their steady upward climb with the S&P 500 firmer by 0.9%. Today's positive economic data supported stocks at the start, and disappointing earnings from financials did little to impact the sentiment. The financial sector, which spent the bulk of the session in the red, is now in the positive territory.

Though most major financials have already reported their fourth quarter results, American Express (AXP 60.81, +0.19), Capital One (COF 61.45, -0.30), and Morgan Stanley (MS 20.56, +0.03) have yet to reveal their earnings. American Express and Capital One will report after today's close while the market will receive Morgan Stanley's report ahead of tomorrow's open.DJ30 +113.58 NASDAQ +24.76 SP500 +11.54 NASDAQ Adv/Vol/Dec 1645/1.13 bln/753 NYSE Adv/Vol/Dec 2327/372.2 mln/642

2:00 pm : Quiet afternoon trade continues, but the Dow Jones has climbed to its highest level since December 2007. Technology shares are among the top performers within the 30-stock index, and Intel (INTC 22.42, +0.30), which is scheduled to report its quarterly earnings after the close, is rising by 1.4%.

In other news, Boeing (BA 74.94, +0.60) has crossed into positive territory after reports indicated a faulty battery has been identified as the cause of electrical issues with Dreamliner jets.DJ30 +109.92 NASDAQ +23.51 SP500 +10.86 NASDAQ Adv/Vol/Dec 1629/1.03 bln/757 NYSE Adv/Vol/Dec 2290/336.1 mln/654

1:35 pm : The major averages are holding their recent levels and the Dow remains firmer by 0.7%. The key indices have shown little change in the past 60 minutes after lifting to their respective highs.

The Dow Jones Transportation Average is adding 0.6% as trucking stocks lead the index. JB Hunt (JBHT 63.20, +1.86) has marked a fresh 52-week high and the stock currently trades higher by 3.0%.

On the downside, airlines are underperforming after showing robust performance since the start of November. United Continental (UAL 25.79, -0.41) is shedding 1.6% after gaining more than 32% over the past ten weeks.DJ30 +91.76 NASDAQ +19.73 SP500 +8.84 NASDAQ Adv/Vol/Dec 1588/969.2 mln/778 NYSE Adv/Vol/Dec 2240/316.3 mln/680

1:00 pm : Equities have climbed steadily through the first half of the session after today's economic data was received positively by the market. Weekly initial claims came in at 335,000, which was better than expected. In addition, the December housing starts report pointed to an annualized rate of 954,000. The reading was also ahead of expectations, and homebuilders are outperforming as a result.

An upbeat housing starts number is being received as a signal suggesting homebuilders may continue to see increased demand. As such, individual builders are displaying relative strength across the board. PulteGroup (PHM 20.22, +0.88) and Lennar (LEN 41.59, +1.07) are higher by 4.6% and 2.6% respectively. Meanwhile, the SPDR S&P Homebuilders ETF (XHB 28.01, +0.37) is adding 1.3%.

The market also received quarterly earnings from Bank of America (BAC 11.32, -0.46) and Citigroup (C 41.20, -1.28), but the reports failed to please investors whose expectations were heightened going into the reporting period. As a result, the financial sector is the only S&P 500 space in the red at midday.

While most major financials have already reported their fourth quarter results, a handful of notable names remain on the earnings calendar. Today after the close, American Express (AXP 60.70, +0.08) will announce the results of its operations.

Looking at individual movers of note, Apple (AAPL 503.37, -2.72), is off by 0.5%. The largest tech stock is underperforming after yesterday's 3.0% rally, which followed comments from technical analyst Tom Demark who said the stock has now bottomed.

Elsewhere in technology, Dell (DELL 12.81, +0.20) is higher by 1.6% after earlier reports indicated Silver Lake is nearing a $15 billion financing agreement in order to complete a leveraged buyout of the computer assembler.

In acquisition news, K-Swiss (KSWS 4.72, +1.53) is soaring 48.0% after the footwear manufacturer agreed to be acquired by E.Land World for $4.75 per share. The transaction price represents a 49.0% premium to K-Swiss' Wednesday closing price.

Aircraft manufacturer Boeing (BA 74.00, -0.34) remained in the headlines after the Federal Aviation Administration joined European and Japanese authorities in halting all Dreamliner flights pending a review of the aircraft's electrical systems. Since Boeing aircrafts began exhibiting issues on January 7, the stock has lost nearly 4.5%. In addition, BB&T Capital Markets downgraded Boeing to 'Underweight' from 'Hold.DJ30 +90.04 NASDAQ +19.49 SP500 +8.91 NASDAQ Adv/Vol/Dec 1617/880.5 mln/738 NYSE Adv/Vol/Dec 2271/284.2 mln/638

12:30 pm : The major averages have pushed to fresh highs in recent trade. The S&P 500 and Nasdaq are both firmer by 0.6%.

Though the Nasdaq is trading in-line with the other two averages, its largest component, Apple (AAPL 502.97, -3.12), is underperforming. The biggest tech stock is off by 0.6% after yesterday's 3.0% rally, which followed the comments from technical analyst Tom Demark who said the stock has now bottomed.

Elsewhere in technology, Dell (DELL 12.83, +0.22) is higher by 1.7% after earlier reports indicated Silver Lake is nearing a $15 billion financing agreement in order to complete a leveraged buyout of the computer assembler.DJ30 +89.61 NASDAQ +18.64 SP500 +8.93 NASDAQ Adv/Vol/Dec 1601/801.4 mln/734 NYSE Adv/Vol/Dec 2253/261.3 mln/633

12:00 pm : Equities continue to trade modestly higher with the three major averages near the top of today's range. Positive economic data supported the key indices out of the gate, and equities have extended their early gains since.

Boeing (BA 74.19, -0.15) remained in the headlines after the Federal Aviation Administration joined European and Japanese authorities in halting all Dreamliner flights pending a review of the aircraft's electrical systems. Since the Dreamliner first began exhibiting issues on January 7, Boeing stock has lost nearly 4.5%.

In addition, BB&T Capital Markets downgraded Boeing to 'Underweight' from 'Hold. The relative weakness in the shares of Boeing is isolated to the company, and does not appear to have an effect on other defense stocks. As such, the PHLX Defense Sector is adding 0.4%.DJ30 +69.10 NASDAQ +16.06 SP500 +6.97 NASDAQ Adv/Vol/Dec 1582/721.1 mln/743 NYSE Adv/Vol/Dec 2212/236.6 mln/659

11:35 am : The S&P 500 and Dow continue to hover near their respective highs while the Nasdaq trades in the middle of its range. The major averages got a boost at the start when generally upbeat economic data was reported, and have built on their strength since.

The markets also received quarterly earnings from Bank of America (BAC 11.39, -0.39) and Citigroup (C 41.30, -1.18), but the reports failed to please investors whose expectations were heightened going into the reporting period. As a result, the financial sector is the only S&P 500 space currently trading in the red.

While most major financials have already reported their fourth quarter results, a handful of notable names remain on the earnings calendar. Today after the close, American Express (AXP 60.74, +0.12) will announce the results of its operations.DJ30 +66.99 NASDAQ +17.40 SP500 +7.06 NASDAQ Adv/Vol/Dec 1547/629.5 mln/745 NYSE Adv/Vol/Dec 2170/210.8 mln/695

11:00 am : Recent trade has seen the S&P 500 hold just beneath its session high. The benchmark index is firmer by 0.3% as today's modestly positive sentiment follows upbeat economic data.

Most notably, December housing starts were reported well ahead of the Briefing.com consensus with the annualized monthly rate hitting 954,000. The reading translates into a positive outlook for homebuilders which are helping the consumer discretionary space outperform the remaining S&P 500 sectors.

Looking at individual builders, DR Horton (DHI 21.34, +0.34) and PulteGroup (PHM 19.81, +0.47) are seeing respective gains of 1.6% and 2.4%. Meanwhile, the SPDR S&P Homebuilders ETF (XHB 27.82, +0.18) is adding 0.7%.DJ30 +56.10 NASDAQ +11.87 SP500 +5.11 NASDAQ Adv/Vol/Dec 1438/512.1 mln/775 NYSE Adv/Vol/Dec 2055/180.1 mln/753

10:35 am : Feb crude oil has been trending higher in positive territory after lifting off its session low of $94.98 set at the pit open. It is now up 1.3% at $95.49, slightly below its session high of $95.71.

Feb natural gas popped to a new session high of $3.50 on better-than-anticipated inventory data that showed a draw of 148 bcf when a draw of 136 to 137 bcf was expected. It traded in negative territory in early morning action but is now up 1.5% at $3.49.

Feb gold and Mar silver slid to their respective session lows of $1666.40 and $31.05 following better than expected economic data that included Initial Claims and Dec housing starts. However, the metals rallied into positive territory in recent action. Gold brushed a session high of $ 1689.70 and is currently up 0.2% at $1686.50. Silver touched a session high of $31.77 and is now slightly lower at $31.67, or 0.4% higher. DJ30 +62.90 NASDAQ +15.23 SP500 +6.48 NASDAQ Adv/Vol/Dec 7465/411.2 mln/713 NYSE Adv/Vol/Dec 2124/154.4 mln/660

10:00 am : Equities saw little initial reaction to the release of the Philadelphia Fed survey. The S&P 500 is higher by 0.3%.

The January Philadelphia Fed Survey ticked down to -5.8. This comes after December's reading of 4.6. Economists polled by Briefing.com had expected that the Survey would improve to a reading of 5.2.DJ30 +36.29 NASDAQ +10.70 SP500 +3.68 NASDAQ Adv/Vol/Dec 1421/253.5 mln/669 NYSE Adv/Vol/Dec 2063/107.7 mln/632

09:50 am : The major averages traded modestly higher during the opening minutes of the session. Today's economic data painted a positive overall picture, which added to the upbeat initial sentiment. The S&P 500 is adding 0.2%.

Bank earnings remain in focus today with the market reacting to reports from Bank of America (BAC 11.44, -0.34) and Citigroup (C 41.15, -1.33). Both stocks added roughly 20% each since the start of December, thus pricing in positive quarterly results. However, Bank of America's report was mixed, while Citigroup fell short of the Capital IQ earnings and revenue expectations. With the disappointing earnings, the SPDR Financial Select Sector ETF (XLF 17.09, -0.05) is the weakest performing sector proxy as it trades lower by 0.3%

Today's economic data will be topped off by the January Philadelphia Fed Survey, which will be released at 10:00 ET.DJ30 +33.43 NASDAQ +9.96 SP500 +3.20 NASDAQ Adv/Vol/Dec 1374/180.1 mln/648 NYSE Adv/Vol/Dec 1986/84.7 mln/673

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +22.20. Heading into the open, equity futures are pointing to a higher start to the cash session. The S&P 500 futures are adding 0.5%, and most of the buying followed today's positive economic data. In addition, the market received quarterly reports from Bank of America (BAC 11.75, -0.03) and Citigroup (C 41.60, -0.88). The former delivered mixed results while Citigroup missed expectations.

In other pre-market movers, Boeing (BA 73.03, -1.31) is shedding 1.8% after the European Aviation Safety Agency and the Federal Aviation Administration both ordered the 787 Dreamliner to be grounded.

In acquisition news, K-Swiss (KSWS 4.73, +1.54) is soaring 48.3% after the footwear manufacturer agreed to be acquired by E.Land World for $4.75 per share. The transaction price represents a 49% premium to K-Swiss' Wednesday closing price.

Today's economic data will be topped off by the January Philadelphia Fed Survey, which will be released at 10:00 ET.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: +6.90. Nasdaq futures vs fair value: +24.20.

U.S. equity futures continue to trade near their pre-market highs with the S&P 500 futures adding 0.6%.

The major Asian bourses finished mixed amid a relatively quiet trade. Japan's economy minister suggested his previous comments regarding excessive declines in the yen were misinterpreted, and that put a bid into USDJPY. However, Japan's Nikkei shrugged off the news to finish with just a fractional gain of 0.1%. Meanwhile, China's Shanghai Composite slumped 1.1%, ahead of tonight's data dump. Data from the region showed Australia's employment change register a -5.5K reading (+2.3K expected) and its unemployment rate tick up to 5.4% (5.3% previous); Hong Kong's unemployment rate slip to 3.3% (3.4% previous); and South Korea's PPI climb to -0.3% month-over-month (-0.7% previous).
In Japan, the Nikkei added 0.1% as exporters posted sound gains. Honda Motor climbed 1.7% and Fanuc added 1.5% to finish as some of the top performers in the space. Elsewhere, Sharp surged more than 7% following reports the company was exploring a sale of its Chinese TV assembly plant to Lenovo.
Hong Kong's Hang Seng slipped 0.1% amid a choppy trade. Real estate stocks were once again in favor as Sun Hung Kai Properties rallied 0.4% following upgrade.
In China, the Shanghai Composite shed 1.1% as insurance and rail stocks underperformed. China Life fell 3% following a downgrade at a tier 1 firm, and China Railway Group gave back 1.8%. The two names were among the hardest hit in their respective sectors.

European markets are firmly higher after overcoming early session weakness. Regional economic data was limited as the Swiss PPI rose by 0.1% month-over-month, in-line with expectations. Also of note, the Netherlands reported December unemployment of 7.2%, which was ahead of the broadly expected 7.0%.

In news, Germany's Finance Minister Wolfgang Schaeuble said the European Monetary Union is on the right path to overcome the crisis. In addition, Mr. Schaeuble voiced concerns about Japan's economic policy. Elsewhere, reports indicate the European Central Bank is considering tougher loan collateral rules.
In the United Kingdom, the FTSE is adding 0.3%. Associated British Foods is surging 7.5% to lead the index. The strength comes after the company reported strong revenue at its low-priced clothing business.
Germany's DAX is higher by 0.5% as ThyssenKrupp leads the index, up 2.2%. On the downside, SAP is shedding 1.1% after Citigroup downgraded the software stock to 'Neutral' from 'Buy.'
In France, the CAC is rising by 1.1%. Food retailer Carrefour is soaring 8.2% after reporting strong quarterly results.

08:35 am : S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +22.50. Equity futures ticked to fresh pre-market highs following the release of a handful of economic data points. The S&P 500 futures are adding 0.4%.

The latest weekly initial jobless claims count totaled 335,000, which was lower than the 370,000 that had been expected by the Briefing.com consensus. The tally was below the revised prior week count of 372,000. As for continuing claims, they rose to 3.214 million from 3.127 million.

Housing starts hit an annualized rate of 954,000 units during December. Economists polled by Briefing.com had expected for housing starts to hit an annual rate closer to 889,000. Prior month figures were revised downward to reflect an annual rate of 851,000 housing starts. As for building permits, they increased from the prior month's rate of 899,000 to 903,000 for December. That is below the pace of 905,000 building permits that had been expected among economists polled by Briefing.com.

08:03 am : [BRIEFING.COM] S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: +17.00.

U.S. equity futures are modestly higher amid mixed overseas trade. The S&P 500 futures are adding 0.2%.

Looking at overseas developments:

Asian markets ended on a mixed note. Japan's Nikkei added 0.1% while Hong Kong's Hang Seng slipped 0.1%, and China's Shanghai Composite lost 1.1%.
In economic news:
Japan's tertiary activity index declined by 0.3% month-over-month, while an uptick of 0.1% was generally expected.
Australia's employment change of -5.5K was well below the generally expected increase of 4.5K. This resulted in an unemployment rate of 5.4%, in-line with expectations, but ahead of its prior month rate of 5.3%.
Hong Kong's unemployment rate came in at 3.3%, better than the prior month's rate of 3.4%.
Looking at news:
Japan's Economy Minister Amari said his Tuesday comments about the country's currency being in-line with fundamentals were misinterpreted. Following the clarification, the yen slid against the dollar and the pair now trades at 89.298.
Equities in China underperformed as traders took profits ahead of this evening's GDP report from the Middle Kingdom.

European markets are generally higher. France's CAC is rising by 0.9%, the United Kingdom's FTSE is adding 0.2%, and Germany's DAX is flat.
Regional economic data was limited:
Swiss PPI rose by 0.1% month-over-month, in-line with expectations.
The Netherlands reported December unemployment of 7.2%, which was ahead of the broadly expected 7.0%.
In news:
Germany's Finance Minister Wolfgang Schaeuble said the European Monetary Union is on the right path to overcome the crisis. In addition, Mr. Schaeuble voiced concerns about Japan's economic policy.
Reports indicate the European Central Bank is considering tougher loan collateral rules.

In U.S. corporate news:

Bank of America (BAC 11.67, -0.11) is lower by 0.9% after reporting mixed earnings. The financial giant topped the Capital IQ earnings forecast by $0.01 while its revenue missed expectations.
Boeing (BA 73.49, -0.85) is down 1.1% after the Federal Aviation Administration ordered all 787 Dreamliner jets to be grounded. In addition, BB&T Capital Markets downgraded Boeing this morning.
eBay (EBAY 54.75, +1.85) is higher by 3.5% after the earnings of the online auction site beat analyst estimates by one cent. Additionally, the company reported in-line revenue, but warned its first quarter earnings and revenue are expected to come in below the current analyst estimates.

Looking at today's economic news, weekly initial and continuing claims will be reported at 8:30 ET. In addition, December housing starts and building permits will also be released at 8:30 ET. Lastly, the Philadelphia Federal Reserve will release its January Survey at 10:00 ET.

06:30 am : [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: +12.00.

06:30 am : Nikkei...10609.64...+9.20...+0.10%. Hang Seng...23339.76...-17.20...-0.10%.

06:30 am : FTSE...8095.80...-8.20...-0.10%. DAX...7670.56...-20.60...-0.30%.

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

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

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