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 Post subject: January 18th Friday Trade Results - Profit $180
PostPosted: Sat Jan 19, 2013 12:05 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

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click on the above image to view today's performance verification
Quote:
I wasn't able to trade until the last 15 minutes of the regular trading session because of personal appointments most of the day. Yet, if it wasn't for the Creeper Movement price action analysis for the intraday tendency involving the last 15 minutes of the trading day...I would have ignored the price action and not trade all day.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $180.00 dollars or +1.80 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 @ $180.00 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=1418

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, S&P 500 Close At 5-Year Highs

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

NEW YORK (CNNMoney)
After a mostly flat trading day, the Dow and S&P 500 climbed during the last hours of trading Friday to finish the week at their highest levels since December 2007.

The Dow Jones industrial average rose 0.4% while the S&P 500 rose 0.3%. The Nasdaq finished the day in the red.

All three major indexes logged a third straight week of gains. The Dow gained 1.2%, the S&P 500 rose 1% and the Nasdaq added 0.3%.

Markets will be closed Monday in observance of Martin Luther King, Jr. Day.

Stocks spent most of Friday near the breakeven line as investors analyzed several corporate earnings reports.

A 6.3% drop in shares of Intel (INTC, Fortune 500) weighed on all three indexes, particularly the tech-heavy Nasdaq, after the chipmaker reported that quarterly profits fell 27% from a year earlier.

Capital One (COF, Fortune 500) was among the biggest losers on the S&P 500. Its shares fell more than 7% as the credit card lender and bank reported earnings that fell short of forecasts.

On the flip side, General Electric (GE, Fortune 500) rose 3.5% after the conglomerate issued an upbeat outlook and reported better-than-expected earnings and revenue. GE was the biggest gainer on the Dow.

Morgan Stanley (MS, Fortune 500)was also a big winner, with shares rising almost 8% after the bank reported earnings that narrowly beat expectations.

It's been a mixed bag for earnings this week. JPMorgan Chase (JPM, Fortune 500) and Goldman Sachs (GS, Fortune 500) issued strong reports, while investors were disappointed by Citigroup (C, Fortune 500)and Bank of America (BAC, Fortune 500).

Overall, S&P 500 companies are expected to report earnings growth of 3.8% for the last three months of 2012, according to S&P's Capital IQ.

@ Fear & Greed index mired in extreme greed

Investors also monitored the ongoing troubles at Boeing (BA, Fortune 500), which has been in focus this week due to problems with its new 787 Dreamliners that prompted authorities around the world to ground the planes.

In international news, China's economy grew at a stronger-than-expected annual rate of 7.9% in the final three months of 2012. Asian stocks rallied on the news. The Nikkei surged nearly 3%, helped by a weaker yen.

European markets finished mixed. The FTSE 100 gained ground, while Germany's DAX and France's CAC 40 finished lower.

Back in the U.S., the University of Michigan's consumer sentiment index fell to 71.3 in January from 72.9 the previous month. Analysts were expecting a reading of 75.

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

Oil prices rose slightly, while gold prices slipped.

The price on the 10-year Treasury rose, pushing the yield down to 1.84% from 1.88% late Thursday.

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Market Update

4:20 pm : Equities began the session on a rather uninspiring note, but managed to climb back into positive territory by day's end. The key indices got off to a slow start despite China reporting its 2012 GDP growth at 7.9%. While the reading beat expectations, investor optimism was contained to the Asian session. Domestically, the lone economic data point came from the University Michigan, which reported its preliminary January consumer confidence measure at 71.3. The report was a disappointment and it contributed to the early weakness observed in the major averages.

The S&P 500 and Dow staged an afternoon recovery back into positive territory after headlines out of Washington indicated Republican lawmakers are open to a three-month debt ceiling extension. While the reports were met with initial resistance from top Democrats, the White House was said to be 'encouraged' by the proposal.

The 30-stock Dow Jones was the top performing index, and positive earnings from General Electric (GE 22.04, +0.74) contributed to the relative strength. The conglomerate reported earnings growth in five of its seven segments, and its stock gained 3.5% on the back of the strong results.

While the Dow and S&P 500 registered gains, the Nasdaq ended lower due to pressure from two major components.

Intel (INTC 21.25, -1.43) reported a fourth quarter earnings beat, but its top line results as well as forward guidance were disappointing. The stock slid 6.3% and other semiconductor manufacturers underperformed as well. The PHLX Semiconductor Index slipped 0.5%.

Apple (AAPL 500.00, -2.68) also weighed on tech shares. The stock shed 0.5% after supply concerns were revisited after reports out of Reuters indicated that Sharp, which supplies screens for the iPad, has slowed its production rate. The demand concerns spilled over to other Apple supplier as Qualcomm (QCOM 64.48, -0.45) and Skyworks (SKWS 20.88, -0.78) lost 0.7% and 3.6% respectively.

Additionally, the market received earnings from two major financials. American Express (AXP 59.78, -0.96) settled lower by 1.6% after reporting earnings in-line with its January 10 preannouncement. On the upside, Morgan Stanley (MS 22.38, +1.63) surged 7.9% after reporting a bottom line beat.

Crude oil shed 0.1% and ended at $95.38 after trading in a narrow range for the duration of the session.

Also of note, the CBOE Volatility Index (VIX 12.33, -1.24) sank 9.1% and finished at its lowest level since April 2007.

Floor volume at the New York Stock Exchange was aided by the January options expiration, and totaled 1.07 billion shares, which was well above average.

Sector leadership came from industrials (+1.0%) and the utilities (+0.9%) space. On the downside, technology shares were the biggest laggard (-0.3%), followed by financials (+0.2%).

As mentioned earlier, today's economic data was limited to the preliminary January University of Michigan Consumer Sentiment Survey. The report came in at 71.3, which was lower than the 72.9 that was posted in the prior month, and worse than the reading of 75.0 that had been expected by the Briefing.com consensus.

Note that equity and bond markets will be closed on Monday in observance of Martin Luther King Day. On Tuesday, December existing home sales will be reported at 10:00 ET. Among earnings of note, Google (GOOG 704.51, -6.81) and Verizon Communications (VZ 42.54, +0.41) are scheduled to report on Tuesday. Verizon will announce its quarterly results ahead of the opening bell while Google is scheduled for an after-hours release.

Week in Review: Equities Climb to Highest Weekly Close Since 2007

Monday's session began on a lower note after pre-market weakness in Apple (AAPL 500.00, -2.68) weighed on the tech-heavy Nasdaq. Meanwhile, the S&P 500 marked its session low in the 1465 area an hour into the session. The benchmark index then reversed and spent the remainder of the session climbing back near its flat line before finishing with a slim loss. Dell (DELL 12.84, +0.02) was on the move today after Bloomberg TV reported the PC maker is in talks with private equity regarding a potential buyout. Dell surged 13.0% on the news.

On Tuesday, equities began the day with a slightly bearish bias after Germany's 2012 GDP was reported below expectations. Though the news weighed at the open, the major averages showed resilience, and spent the remainder of the session climbing off their lows. As a result, the S&P 500 added 0.1% while the Nasdaq underperformed with a loss of 0.2%. Lennar (LEN 42.08, +0.14) was the first homebuilder to report its fourth quarter results. The report was generally positive as the company's earnings and revenue exceeded the Capital IQ consensus estimates. In addition, the company expects its full-year 2013 gross margins to be in-line with analyst estimates. Despite the upbeat earnings, Lennar settled lower by 0.8%. It should be noted the stock has added over 36% over the past five months, thus strong quarterly results have been largely priced-in.

On Wednesday, major stock market averages started the day on a mixed and uneventful note and that's pretty much how they traded the rest of the day. There were plenty of storylines, but there wasn't any conviction on the part of buyers or sellers outside of some individual stock stories. Boeing (BA 75.04, -0.22) underperformed after two Japanese carriers suspended their Dreamliner flights due to safety concerns.

Thursday's session opened 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. The SPDR Homebuilders ETF (XHB 28.21, +0.06) settled higher by 1.9%.DJ30 +53.68 NASDAQ -1.29 SP500 +5.04 NASDAQ Adv/Vol/Dec 1305/1.84 bln/1132 NYSE Adv/Vol/Dec 1958/1.07 bln/1029

3:30 pm : Feb crude oil chopped around in negative territory for most of pit trade, dipping as low as $94.91per barrel mid-session. However, the energy component managed to erase earlier losses as it pushed into positive territory in afternoon action. Crude closed slightly higher at $95.59 per barrel, booking a 2.1% gain for the week.

Feb natural gas lifted off its session low of $3.49 per MMBtu set it morning action and trended higher for the remainder of floor trade. It gained a solid 7.2% over the week as it closed today's session at $3.57 per MMBtu, just below its session high of $3.58 per MMBtu.

Feb gold rose to a floor session high of $1695.10 per ounce in early morning action but lost momentum and fell back into negative territory moments after equity markets opened. It chopped around below the break-even level for the remainder of the session and settled slightly lower at $1687.40 per ounce. Despite today's losses, the yellow metal gained 1.6% for the week.

Mar silver also climbed to a pit session high of $32.14 per ounce in morning action. It dipped to a session low of $31.70 per ounce but was able to inch back into positive territory where it settled at $31.93 per ounce. Silver closed higher for five consecutive sessions, bringing total gains for the week to 5.0%.DJ30 +33.33 NASDAQ -4.38 SP500 +2.83 NASDAQ Adv/Vol/Dec 1243/1.52 bln/1199 NYSE Adv/Vol/Dec 1796/711.1 mln/1149

3:00 pm : The S&P 500 and Dow have marked fresh session highs as trade enters the final hour. The major averages lifted off their intraday lows after Republican lawmakers were said to be considering a temporary debt ceiling extension. While initial rebuttals from the Democrats suggested a conditional package would not be considered, Dow Jones has reported the White House is 'encouraged' by the proposal. The Nasdaq remains firmly in the red as downbeat guidance from Intel (INTC 21.13, -1.55) weighs on the tech-heavy index.

The fourth quarter earnings season will kick into high gear next week. On Tuesday, more than fifty companies covered by Briefing.com will report their fourth quarter earnings. Prior to Tuesday's open, Delta Air Lines (DAL 13.62, -0.21) and Verizon Communications (VZ 42.37, +0.24) will announce their results. The Capital IQ consensus expects Delta to report earnings of $0.28 on $8.61 billion in revenue. While the forecast expects a year-over-year earnings decline of nearly 40%, Delta stock has rallied over 36% since December 1.

Elsewhere, Verizon is expected to report earnings of $0.54 on $29.72 billion in revenue.DJ30 +12.74 NASDAQ -8.01 SP500 +0.49 NASDAQ Adv/Vol/Dec 1180/1.35 bln/1242 NYSE Adv/Vol/Dec 1670/655.1 mln/1253

2:35 pm : Equities are holding their recent levels as the weekend nears. The S&P 500 and Dow jumped off their lows after reports out of Washington suggested Republicans are considering a temporary extension to the debt ceiling. However, the comments were met with immediate resistance from Democratic officials who said a conditional package is not an appealing proposition.

The Nasdaq remains as the main laggard after Intel's (INTC 21.16, -1.52) revenue and guidance failed to inspire investor confidence. Elsewhere, Apple (AAPL 498.54, -4.14) is underperforming after the strength of demand for company's products came into question once again. The latest concerns followed reports indicating Sharp has put the brakes on the rate at which it produces screens for iPad devices.

The supply concerns are once again spilling over to other Apple suppliers. Most notably, Skyworks Solutions (SWKS 20.97, -0.69) and Qualcomm (QCOM 64.49, -0.65) are seeing respective losses of 3.1% and 1.0%.DJ30 +9.96 NASDAQ -9.09 SP500 +0.21 NASDAQ Adv/Vol/Dec 1157/1.27 bln/1263 NYSE Adv/Vol/Dec 1634/631.2 mln/1268

2:00 pm : The major averages are holding their recent levels. The S&P 500 and Dow are registering fractional gains after Republican lawmakers signaled their willingness to pass a short-term debt ceiling extension. The comments were countered by remarks from top democrats who said they are not open to a conditional package.

While the S&P 500 and Dow trade flat, the Nasdaq remains in the red. The tech-heavy index is off by 0.3% after bellwether Intel (INTC 21.15, -1.53) reported disappointing results. In addition, Apple (AAPL 499.53, -3.15) is displaying relative weakness after Sharp, which supplies iPad screens was said to be nearing a production halt.DJ30 +3.36 NASDAQ -8.34 SP500 -0.09 NASDAQ Adv/Vol/Dec 1126/1.18 bln/1271 NYSE Adv/Vol/Dec 1603/603.2 mln/1306

1:35 pm : Recent trade has seen a notable uptick in the major averages. The move has pushed the Dow into positive territory, while the S&P 500 is currently flat. The rapid climb off session lows followed reports out of Washington which indicated Republican lawmakers are willing to accept a short-term debt ceiling increase. However, Democratic officials have said they are not willing to pass a conditional package.

With equities near their session highs, most S&P 500 sectors are now trading in the black. The technology remains as the biggest laggard as Apple (AAPL 499.24, -3.44) and Intel (INTC 21.12, -1.56) weigh.DJ30 +4.59 NASDAQ -9.38 SP500 -0.35 NASDAQ Adv/Vol/Dec 1097/1.21 bln/1295 NYSE Adv/Vol/Dec 1560/500.3 mln/1331

1:00 pm : Equities began today's session on a cautious note, and the first half of trade has brought an extension of this morning's sentiment. Overnight data focused on China's 2012 GDP report. The Middle Kingdom registered growth of 7.9%, which was 10 basis points ahead of the general consensus forecast.

Domestically, the preliminary University of Michigan Survey for January came in at 71.3, which was lower than the 75.0 that was posted in the prior month, and worse than the reading of 75.0 that had been expected by the Briefing.com consensus.

In addition to the economic data, the market has received earnings reports from several notable names. Last evening, Intel (INTC 21.06, -1.62) reported a bottom line beat, but its revenue and forward guidance did not please investors. As a result, Intel trades lower by 7.1%. The disappointing earnings are spilling over to peers. Notably, Advanced Micro Devices (AMD 2.54, -0.20) is also slumping 7.1% while the broader PHLX Semiconductor Index off by 0.7%.

Intel's earnings along with relative weakness from Apple (AAPL 499.38, -3.30) are contributing to the underperformance in the Nasdaq. Apple is down 0.8% after Reuters reported that Sharp, which supplies screens for the iPad, has slowed down its production.

Elsewhere on the earnings front, General Electric (GE 21.97, +0.67) reported upbeat results as five of its seven segments reported double-digit earnings growth. The stock trades higher by 3.2%, which is contributing to the outperformance of the Dow as well as the S&P 500 industrial sector.

Additionally, the market received earnings from two major financials. American Express (AXP 59.28, -1.47) is shedding 2.4% after reporting earnings in-line with its January 10 preannouncement. On the upside, Morgan Stanley (MS 22.34, +1.59) is surging 7.7% after reporting a bottom line beat.

Though equities are trading lower today, the CBOE Volatility Index (VIX 12.87, -0.70) trades in the red as well. With today's decline, the VIX is now at its lowest level since June 2007.DJ30 -2.15 NASDAQ -10.60 SP500 -2.34 NASDAQ Adv/Vol/Dec 1061/1.02 bln/1300 NYSE Adv/Vol/Dec 1512/474.5 mln/1353

12:35 pm : Cautious trade continues as the key indices remain in the lower half of their respective trading ranges. A slight divergence persists as today's positive earnings from General Electric (GE 21.93, +0.63) and disappointing results from Intel (INTC 21.11, -1.57) carry different implications for the performance of the major averages.

Additionally, the market received earnings from two major financials. American Express (AXP 59.07, -1.67) is shedding 2.8% after reporting earnings in-line with its January 10 preannouncement. On the upside, Morgan Stanley (MS 22.31, +1.56) is surging 7.5% after reporting a bottom line beat. Other major financials are trading generally lower and the SPDR Financial Select Sector ETF (XLF 17.06, -0.07) is slipping 0.5%.DJ30 -17.13 NASDAQ -15.39 SP500 -3.90 NASDAQ Adv/Vol/Dec 1025/944.1 mln/1301 NYSE Adv/Vol/Dec 1375/452.8 mln/1481

12:00 pm : The major averages have continued their push to fresh highs as slightly bearish bias continues to persist. Today's economic data pointed to in-line GDP growth in China, while the University of Michigan Consumer Survey fell short of expectations. As cautious trade continues to unfold, the key indices are seeing some divergence.

The Dow is outperforming as General Electric (GE 21.93, +0.63) contributes to the strength of the index after reporting strong fourth quarter earnings. In addition, General Electric is contributing to the relative strength of the S&P 500 industrial sector.

The Nasdaq is the biggest laggard of the three averages after Intel (INTC 21.19, -1.49) disappointed the Street with its quarterly earnings. Other semiconductor shares are seeing related weakness and the PHLX Semiconductor Sector Index is lower by 0.7%. Meanwhile, shares of Apple (AAPL 497.65, -5.03) are putting additional pressure on tech stocks as the largest sector component lags following reports of a near-halt of orders from iPad screen supplier Sharp.DJ30 -17.47 NASDAQ -15.37 SP500 -3.98 NASDAQ Adv/Vol/Dec 1006/856.9 mln/1299 NYSE Adv/Vol/Dec 1350/430.1 mln/1473

11:30 am : The key indices have continued to probe fresh session lows. Today's headline economic data point came from China where 2012 GDP growth was recorded at 7.9%. However, the number failed to inspire investor confidence after the Asian session ended.

Domestically, the preliminary January University of Michigan Consumer Sentiment Survey fell short of expectations. The economic data combined with disappointing earnings from Intel (INTC 21.26, -1.42) have translated into cautious trade.

Notably, the Dow Jones Industrial Average is outperforming the other two indices. The relative strength follows upbeat earnings from General Electric (GE 21.94, +0.64), which said double digit revenue growth occurred in five of seven company units.DJ30 -2.27 NASDAQ -13.29 SP500 -2.76 NASDAQ Adv/Vol/Dec 942/768.3 mln/1323 NYSE Adv/Vol/Dec 1368/405.9 mln/1447

11:05 am : The major averages have yet to stage a notable move away from their respective flat lines. The Nasdaq is the weakest performer, but the index is losing just 0.3%. The underperformance is related to the weakness in semiconductor producers after Intel (INTC 21.30, -1.38) reported disappointing quarterly results.

While the top processor manufacturer beat on the bottom line, its guidance failed to please investors. The cautious guidance is spilling over to peers as Advanced Micro Devices (AMD 2.56, -0.18) trades lower by 6.3%. Meanwhile, the PHLX Semiconductor Index is off by 0.3%.

Also of note, Apple (AAPL 498.90, -3.91) is shedding 0.8% after Reuters reported that Apple supplier, Sharp, has nearly halted its production of iPad screens.

As the major averages pushed to fresh lows, so did the CBOE Volatility Index (VIX 13.05, -0.52). With today's move, the VIX is now at its lowest level since June 2007.DJ30 -15.43 NASDAQ -14.35 SP500 -4.01 NASDAQ Adv/Vol/Dec 952/660.5 mln/1294 NYSE Adv/Vol/Dec 1288/376.2 mln/1498

10:30 am : A stronger dollar index has been putting pressure on the commodities space.

Feb crude oil climbed into positive territory and to a session high of $95.61 shortly after equity markets opened, but has been on a decline since. It pulled back into negative territory and is now down 0.2% at $95.27.

Feb natural gas has been trending lower but is still in positive territory. It retreated from its session high of $3.54 and is now at $3.50, up 0.3%.

Both Feb gold and Mar silver climbed out of negative territory and to their respective session highs of $1695.10 and $32.14 in early morning pit action. However, both metals have been trending lower since. Gold is now down 0.2% at $1686.60. Silver is holding on to a slight gain of 0.2% and is currently at $31.88. DJ30 -5.25 NASDAQ -8.15 SP500 -3.17 NASDAQ Adv/Vol/Dec 946/535.2 mln/1302 NYSE Adv/Vol/Dec 1349/308.2 mln/1456

10:00 am : The S&P 500 slipped back near its session low following the release of the University of Michigan Consumer Sentiment Survey. The benchmark index is off by 0.1%.

The preliminary University of Michigan Survey for January came in at 71.3, which was lower than the 72.9 that was posted in the prior month, and worse than the reading of 75.0 that had been expected by the Briefing.com consensus.DJ30 +5.70 NASDAQ -6.87 SP500 -1.33 NASDAQ Adv/Vol/Dec 898/340.1 mln/1194 NYSE Adv/Vol/Dec 1236/295.6 mln/1413

09:50 am : The major averages are trading lower following a mixed open. The cautious start to the session comes despite an upbeat GDP report out of China, which said the country's economy expanded at a pace of 7.9% in 2012.

The Nasdaq is underperforming as Intel (INTC 21.23, -1.45) weighs. Last evening, the processor manufacturer reported a bottom line beat, but its top line result and guidance failed to please investors. In turn, the Dow is outperforming after General Electric (GE 21.71, +0.41) reported strong earnings with five of the company's seven segments recording double digit earnings growth.

Today's lone economic data point will come from the University of Michigan. Its January consumer sentiment survey will be released at 9:55 ET.DJ30 -1.05 NASDAQ -6.06 SP500 -1.05 NASDAQ Adv/Vol/Dec 892/280.1 mln/1139 NYSE Adv/Vol/Dec 1273/278.8 mln/1334

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: -7.00. Heading into the open, equity futures remain mixed. The Dow and S&P 500 futures are registering marginal gains while the Nasdaq futures are off by 0.2%. The underperformance of the tech-heavy index can be attributed to disappointing earnings from bellwether Intel (INTC 21.28, -1.40), which trades lower by 6.2% in pre-market. Meanwhile, Intel's peer Advanced Micro Devices (AMD 2.64, -0.10) is shedding 3.7% in sympathy.

In addition, the market received a series of economic data points from China last evening. Of the four reports which were released, three beat expectations by ten basis points. The GDP report headlined the data release, and the reading of 7.9% was ahead of the generally expected growth of 7.8%.

Domestically, economic data will be limited to the January Michigan Sentiment, scheduled for a 9:55 ET release.

09:03 am : [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: -8.00.

U.S. equity futures continue to trade in mixed fashion. The Nasdaq futures are off by 0.3% as Intel (INTC 21.23, -1.45) weighs.

It was a sea of green across Asia as all of the major averages, aside from Bursa Malaysia (-0.3%), ended the day in the green. Outperformance came from Japan's Nikkei (+2.9%) after an economic advisor to Prime Minister Shinzo Abe suggested a 95-100 handle for the yen not be problematic nor cause inflation. Elsewhere, China's Shanghai Composite (+1.4%) saw a notable advance after announcing GDP expanded 7.9% quarter-over-year (7.8% expected). Other data to emerge from the Middle Kingdom saw fixed asset investment rise 20.6% year-to-date-over-year (20.7% expected) and industrial production jump 10.3% year-over-year (10.2% expected).
In Japan, the Nikkei closed higher by 2.9% to end at a 21-month high. Exporters were once again the leaders as Honda Motor surged 3.5% and Canon rallied 2.9%. Elsewhere, Sony climbed nearly 7% after announcing it would sell its NYC headquarters for $1.1 billion.
Hong Kong's Hang Seng advanced 1.1% to close at an 18-month high. Financials posted solid gains as ICBC added 1.7% and China Construction Bank climbed 1.5%. Apparel maker Li Ning was among the biggest gainers, surging 8.7%.
In China, the Shanghai Composite added 1.4% as automakers and real estate names paced the advance. SAIC Motor jumped 4.7% and China Merchants Property Group climbed 5.9% to lead their respective sectors. Meanwhile, health care names surged as fears of H1N1 mount due to the recent outbreak of influenza. Beijing Tongrentang was among the sector leaders, tacking on 2.6%.

European markets are mixed. Looking at notable economic data points, Spain's industrial new orders declined by 1.5% year-over-year, while growth of 2.5% was expected by the general consensus. Italian industrial new orders slipped 0.5% month-over-month, while an uptick of 2.0% was forecast by the consensus. British retail sales declined by 0.1% month-over-month, and the year-over-year reading showed tepid growth of 0.3%. Meanwhile, the general consensus expected the two figures to be reported at 0.2% and 1.1% respectively. The Bank of Spain reported November bad loan ratio of 11.4%, which is a new record to follow October's ratio of 11.2%.

In news, Italian La Repubblica reported Mario Monti and the leader of the left, Pier Luigi Bersani, have forged an "anti-Berlusconi" pact. In Germany, residents of Lower Saxony will head to the polls this weekend to vote in what has been called a "crucial test" ahead of Germany's national elections in the fall. Reports have indicated that Angela Merkel and her CDU party have received a surge of support heading into this weekend's regional vote.
In the United Kingdom, the FTSE is adding 0.5%. Miners are outperforming after last night's GDP report from China. Rio Tinto and Kazakhmys are both up near 2.0%. Consumer stocks are lagging after the country's retail sales disappointed. Kingfisher and Wolseley are seeing respective losses of 1.9% and 1.8%.
France's CAC is adding 0.1%. Renault is higher by 2.7% after reports indicated the company may begin producing cars for Nissan in France. On the downside, food retailer Carrefour is shedding 0.9%.
Germany's DAX is off by 0.2%. Deutsche Telekom is down 1.1% after reports suggested the company is mulling a sale of its digital classifieds unit. Meanwhile, financials are outperforming. Allianz and Commerzbank are seeing respective gains of 0.4% and 1.4%.

08:31 am : [BRIEFING.COM] S&P futures vs fair value: +1.10. Nasdaq futures vs fair value: -7.30. Equity futures are seeing little change this morning, and the S&P 500 futures have been trapped in a narrow two-point range since the European open. China's positive GDP report has done little to stoke investor confidence outside of the Asian markets as cautious pre-market trade unfolds.

In notable earnings, General Electric (GE 22.09, +0.79) is higher by 3.7% after beating on earnings and revenue. The conglomerate's report was generally strong as five of seven industrial segments registered double-digit bottom line growth.

Today's lone economic data point will come from the University of Michigan. Its January consumer sentiment survey will be released at 9:55 ET.

08:02 am : [BRIEFING.COM] S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: -8.80.

U.S. equity futures are flat amid mixed European trade. The morning sentiment follows last night's GDP report out of China which pointed to 2012 growth of 7.9%.

Looking at overseas developments:

Asian markets charged higher. Japan's Nikkei surged 2.9%, Hong Kong's Hang Seng gained 1.1%, and China's Shanghai Composite advanced 1.4%.
In economic data:
China reported 2012 GDP growth of 7.9%, which was slightly ahead of the generally expected reading of 7.8%.
China's fixed asset investment rose by 20.6% year-over-year, which fell slightly short of the forecast which called for an increase of 20.7%.
China's industrial production increased by 10.3% year-over-year while the consensus forecast called for growth of 10.1%.
Retail sales in China rose by 15.2% year-over-year, ahead of the generally expected increase of 14.9%.
Japan's industrial production came declined by 1.4% month-over-month, which was better than the expected downtick of 1.7%.
In news:
Japan's economics advisor suggested USDJPY trading in the 95-100 range would not be an issue for the country's economy, nor would it cause inflation.

European markets are mixed. The United Kingdom's FTSE is adding 0.5% while France's CAC is flat and Germany's DAX is off by 0.2%.
Looking at notable economic data points:
Spain's industrial new orders declined by 1.5% year-over-year, while growth of 2.5% was expected by the general consensus.
Italian industrial new orders slipped 0.5% month-over-month, while an uptick of 2.0% was forecast by the consensus.
British retail sales declined by 0.1% month-over-month, while the year-over-year reading showed tepid growth of 0.3%. Meanwhile, the general consensus expected the two figures to be reported at 0.2% and 1.1% respectively.
The Bank of Spain reported November bad loan ratio of 11.4%, which is a new record.
In news:
Italian La Repubblica reported Mario Monti and the leader of the left, Pier Luigi Bersani, have forged an "anti-Berlusconi" pact.
In Germany, residents of Lower Saxony will head to the polls this weekend to vote in what has been called a "crucial test" ahead of Germany's national elections in the fall. Reports have indicated that Angela Merkel and her CDU party have received a surge of support heading into this weekend's regional vote.

In U.S. corporate news:

Intel (INTC 21.48, -1.20) is sliding 5.3% after reporting its earnings. The processor manufacturer's bottom line beat the Capital IQ consensus forecast, but Intel's revenue fell slightly short of expectations. In addition, the company's guidance suggested full-year 2013 revenue growth will be in the low single digits.
Morgan Stanley (MS 22.22, +1.47) is surging 7.1% following a healthy bottom line beat.

Today's economic data will be limited to the January Michigan Sentiment, which is scheduled for a 9:55 ET release. Also note that January options expire today.

06:23 am : [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: -5.50.

06:23 am : Nikkei...10913.30...+303.70...+2.90%. Hang Seng...23061.78...+262.00...+1.10%.

06:23 am : FTSE...6161.19...+28.40...+0.50%. DAX...7727.92...-7.50...-0.10%.

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

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

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