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 Post subject: February 19th Tuesday Trade Results - Profit $1320
PostPosted: Wed Feb 20, 2013 12:11 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $900.00 dollars or +9.00 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $420.00 dollars or +0.42 points. Total Profit @ $1320.00 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=114&t=1441

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=203&t=1751

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

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, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone.

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4:15 pm : The S&P 500 settled higher by 0.7% after spending the duration of the day in a steady upward climb. Equities got off to an upbeat start supported in part by bullish European trade. In addition, merger speculation helped support the markets at the open.

Reports out over the weekend indicated Office Depot (ODP 5.02, +0.43) and OfficeMax (OMX 13.00, +2.25) have discussed a stock-for-stock merger. As a result, shares of the two ended with respective gains of 9.4% and 20.9%. In addition, Staples (SPLS 14.65, +1.70) surged 13.1% as the company stands to benefit from more rationalized competition. The outperformance from the three names helped the SPDR S&P Retail ETF (XRT 68.69, +1.22) gain 1.8%.

While some areas of the discretionary sector saw strength, homebuilders lagged notably. The iShares Dow Jones US Home Construction ETF (ITB 23.33, -0.17) shed 0.7% after seeing intraday losses in excess of 2.0%. The space underperformed after the February NAHB Housing Market Index slipped to 46 from its previous reading of 47. The index turned out to be a disappointment as the Briefing.com consensus had expected an uptick to 48.

Health care stocks were in the news this morning when the Centers for Medicare & Medicaid Services proposed lower 2014 Medicare co-payments. The news carried a negative impact for health care providers as Humana (HUM 73.01, -4.98) and UnitedHealth Group (UNH 56.66, -0.66) lost 6.4% and 1.2% respectively.

On the downside, the materials sector was the weakest performer. The space lagged as industrial metals traded broadly lower. Aluminum, nickel, and copper all lost between 1.5% and 1.7%. In addition, Chinese authorities are expected to unveil measures aimed at curbing the rapid rise in home prices. With such limits, lower construction demand should translate into lower material prices.

Glancing at the S&P 500 sector performance, energy (+1.2%), consumer staples (+1.0%), and utilities (+0.9%) were among the top performers. On the downside, materials (-0.4%) and consumer discretionary (+0.4%) stocks lagged.

Today's volume was right in-line with its average as 735 million shares changed hands on the floor of the New York Stock Exchange.

The busy part of the fourth quarter earnings season is nearing its end as more than 400 S&P 500 components have already reported their results. Of the 402 companies, 67% have exceeded bottom line estimates. However, revenue beats were more common this quarter (67%) than in the past two (40% each) quarters.

Looking forward, first quarter earnings are expected to be flat year-over-year. This is down from the initial expectations of 3.0% growth. In addition, first quarter revenue growth is not expected to exceed 1.0%.

In tomorrow's economic data, weekly MBA Mortgage index will be reported at 7:00 ET. At 8:30 ET, January housing starts, building permits, PPI, and core PPI will all be announced. Lastly, the Federal Reserve will release the minutes from its latest meeting at 14:00 ET. In earnings, DISH Network (DISH 36.09, -0.84) and Toll Brothers (TOL 36.90, -0.18) are scheduled to report their results ahead of the open.DJ30 +53.91 NASDAQ +21.56 SP500 +11.15 NASDAQ Adv/Vol/Dec 1677/1.78 bln/815 NYSE Adv/Vol/Dec 2085/734.6 mln/931

3:30 pm :

Mar crude oil chopped around near the unchanged level for most of morning floor trade. Despite touching a session low of $95.55 per barrel, the energy component gained steam as it headed into the close and rallied to a session high of $96.73 per barrel. It settled with a 0.8% at $96.67 per barrel.
Mar natural gas trended higher for its entire pit session after lifting off its session low of $3.22 per MMBtu. It settled with a 3.8% gain at $3.27 per MMBtu, just below its session high of $3.28 per MMBtu.
Apr gold fell for a fourth consecutive session despite slight weakness in the dollar index. The yellow metal pulled-back from its session high of $1612.00 per ounce set in early morning floor action and touched a session low of $1600.20 per ounce. It trimmed some of the earlier losses in afternoon action and settled 0.3% lower at $1604.00 per ounce.
Mar silver brushed a session high of $30.03 per ounce moments after floor trade opened but lost momentum and fell into negative territory. It dipped to a session low of $29.17 per ounce and settled with a 1.5% loss at $29.42 per ounce.

DJ30 +48.53 NASDAQ +16.35 SP500 +9.21 NASDAQ Adv/Vol/Dec 1592/1472.0 mln/878 NYSE Adv/Vol/Dec 1966/457 mln/1022

3:00 pm : Heading into the final hour of trade, the S&P 500 is higher by 0.6%. The benchmark average has notched fresh afternoon highs as seven of 10 S&P 500 sectors trade with gains in excess of 0.5%.

Elsewhere, the Dow Jones Transportation Average has notched a fresh all-time high after crossing above 6,000. The bellwether complex is outperforming the broader market as 19 of 20 components trade with gains. Delta Air Lines (DAL 14.30, -0.15) is the lone underperformer, down 1.1%.DJ30 +45.28 NASDAQ +15.79 SP500 +9.17 NASDAQ Adv/Vol/Dec 1565/1.35 bln/916 NYSE Adv/Vol/Dec 1950/421.5 mln/1020

2:30 pm : Quiet afternoon continues as the key averages remain near their respective highs. Equities have climbed steadily since the open, and were unfazed by a disappointing NAHB Housing Price Index. The report slipped from 47 to 46 while the Briefing.com consensus expected an uptick to 48.

Though the broader market appeared to be unaffected by the data, homebuilders are underperforming as a result. The iShares Dow Jones US Home Construction ETF (ITB 23.32, -0.18) is lower by 0.8% after being down as much as 2.3%.

Housing data will continue tomorrow with January housing starts and business permits scheduled to be released at 8:30 ET. In addition, January existing home sales will be announced on Thursday at 10:00 ET.DJ30 +54.73 NASDAQ +14.10 SP500 +9.70 NASDAQ Adv/Vol/Dec 1561/1.25 bln/903 NYSE Adv/Vol/Dec 1943/389.7 mln/1014

2:00 pm : Equities are holding their recent levels with the S&P 500 up 0.6%. The benchmark index is hovering near its session highs as nine of ten sectors trade with gains. Energy stocks are among the top performers with the SPDR Energy Select Sector ETF (XLE 79.25, +0.80) higher by 1.0%. The sector is leading the broader market despite crude oil trading marginally higher.

Meanwhile, other high-beta sectors are trading in mixed fashion. The materials sector is the day's biggest laggard amid lower industrial metal prices. Aluminum and copper are down 1.7% and 1.5% respectively.DJ30 +52.10 NASDAQ +11.05 SP500 +8.72 NASDAQ Adv/Vol/Dec 1553/1.16 bln/908 NYSE Adv/Vol/Dec 1890/361.3 mln/1049

1:30 pm : Equities continue to trade near their highs as afternoon trade unfolds. The major averages registered the bulk of their gains during opening minutes and have inched higher since.

With the S&P 500 higher by 0.5%, energy, utilities, and consumer staples are among the leaders. In addition, financials are outperforming as well.

On the downside, producers of basic materials are seeing broad weakness as aluminum, copper, and nickel trade lower. Additionally, the underperformance follows news out of China where regulators are expected to take steps to curb rising home prices. Such measures would result in lower demand for construction inputs. The SPDR Materials Select Sector ETF (XLB 39.23, -0.11) is shedding 0.3%.DJ30 +45.27 NASDAQ +12.09 SP500 +8.05 NASDAQ Adv/Vol/Dec 1550/1.07 bln/897 NYSE Adv/Vol/Dec 1837/334.2 mln/1089

1:00 pm : At midday, the S&P 500 trades higher by 0.5%. Including today's gain, the benchmark index has added over 7.0% since the start of the year.

The major averages began the holiday-shortened week with an upbeat open assisted in part by a strong German ZEW Economic Sentiment Survey. The key indices then held their levels despite a disappointing NAHB Housing Market Index, which slipped to 46 from its prior reading of 47.

Although the report had little effect on the broader market, homebuilders have faced increased selling pressure since the release crossed the wires. The iShares Dow Jones US Home Construction ETF (ITB 23.08, -0.42) is lower by 1.8%.

Elsewhere in the discretionary space, office supply store operators are outperforming after weekend reports indicated Office Depot (ODP 4.99, +0.40) and OfficeMax (OMX 12.92, +2.17) are discussing a stock-for-stock merger agreement. Additionally, Staples (SPLS 14.23, +1.28) is surging 9.9% as the company stands to benefit from more rationalized competition. The merger talks have contributing to the outperformance of the SPDR S&P Retail ETF (XRT 68.30, +0.83), which trades higher by 1.2%.

In addition to discretionary stocks, materials are trading lower. The SPDR Materials Select Sector ETF (XLB 39.24, -0.11) is off by 0.3% amid weakness in industrial metals. Aluminum, copper, and nickel are all down between 1.5% and 1.7%.

Also of note, health care providers are underperforming after Centers for Medicare & Medicaid Services proposed lower Medicare co-payments for 2014. Dow component UnitedHealth Group (UNH 56.34, -0.98) is sliding 1.7% on the news.

Over the weekend, the G20 summit in St. Petersburg did not produce much news of note. A statement released by the group stressed the importance of avoiding competitive devaluation of currencies, but did not single out any particular country.DJ30 +48.15 NASDAQ +12.01 SP500 +7.90 NASDAQ Adv/Vol/Dec 1569/990.8 mln/874 NYSE Adv/Vol/Dec 1849/309.4 mln/1063

12:30 pm : The S&P 500 continues to trade just a point below its session high. The benchmark index remains near its best levels of the day despite notable weakness in materials and consumer discretionary stocks.

The SPDR Materials Select Sector ETF (XLB 39.22, -0.13) is down 0.3% amid weakness in miners. In addition, industrial metals are broadly lower today with aluminum and copper down 1.7% and 1.5% respectively.

Elsewhere, the discretionary sector is unchanged as homebuilders weigh following today's disappointing NAHB Housing Market Index, which slipped to 46 from the prior month's reading of 47. The SPDR S&P Homebuilders ETF (XHB 28.68, -0.40) is off by 1.4%.DJ30 +41.92 NASDAQ +10.44 SP500 +7.26 NASDAQ Adv/Vol/Dec 1553/915.5 mln/862 NYSE Adv/Vol/Dec 1828/286.6 mln/1096

12:00 pm : The Dow Jones is adding 0.4% as the index continues to hover near its session high. The 30-stock index is seeing strength from the majority of its components as 23 names trade with gains.

Looking at the laggards, UnitedHealth Group (UNH 56.12, -1.20) is down 2.1% following a proposed lowering of 2014 co-payments. This news is weighing on other health care providers while the remainder of the health care sector has been able to pick up the slack.

Elsewhere, Boeing (BA 74.42, -0.61) is shedding 0.8% after reports indicated the company's 787 Dreamliner jet may be months away from making a return.

Also of note, Home Depot (HD 67.33, -0.19) is shedding 0.3% following a disappointing NAHB Housing Market Index.

Lastly, Alcoa (AA 9.17, -0.15) is shedding 1.6% amid weakness in aluminum and other industrial metals.DJ30 +52.08 NASDAQ +11.83 SP500 +7.90 NASDAQ Adv/Vol/Dec 1606/835.8 mln/809 NYSE Adv/Vol/Dec 1914/262.8 mln/996

11:30 am : The key indices continue to hover near their respective highs. The S&P 500 is adding 0.5% as the benchmark index flirts with a 7.0% year-to-date gain.

Though equities are trading higher, the strength is not entirely broad-based. Consumer staples, energy, and financials are among the top performers. On the downside, materials are lagging amid weakness from miners and tech shares are trading lower with Apple (AAPL 454.30, -5.95) down 1.3%.

Lastly, health care stocks saw initial weakness after Centers for Medicare & Medicaid Services proposed lower co-payments for 2014. However, the sector was able to reclaim its morning losses. The SPDR Health Care Select Sector ETF (XLV 43.58, +0.17) is adding 0.4%.DJ30 +55.52 NASDAQ +10.93 SP500 +7.30 NASDAQ Adv/Vol/Dec 1592/734.4 mln/801 NYSE Adv/Vol/Dec 1929/233.1 mln/953

11:00 am : Equities continue to trade near their highs with the S&P 500 firmer by 0.4%. Stocks got off to a higher start today amid reports suggesting Office Depot (ODP 5.28, +0.69) and OfficeMax (OMX 13.63, +2.88) are in the midst of advanced merger talks. A merger of the two office store operators would continue the recent flurry of M&A activity. In addition, Staples (SPLS 14.71, +1.76) is adding 13.6% on the news as the company would benefit from more rationalized competition.

While office stores are outperforming, other discretionary shares are mixed. Homebuilders are trading lower after today's NAHB Housing Market Index slipped from 47 to 46. The SPDR S&P Homebuilders ETF (XHB 29.00, -0.08) is off by 0.3%.DJ30 +42.35 NASDAQ +8.94 SP500 +5.57 NASDAQ Adv/Vol/Dec 1596/607.9 mln/782 NYSE Adv/Vol/Dec 1918/198.6 mln/932

10:35 am : Commodities are mostly higher this morning, but somewhat mixed. Copper, gold and silver futures are all near session lows. Meanwhile, aluminum futures rose 4.2% overnight to $1980/ton and platinum and palladium futures are higher as well.

Crude oil was showing some real strength this morning and rose as high as $96.11/barrel. Crude has since pulled back below the $96 level and is now -0.3% at $95.62/barrel.

Natural gas has been in positive territory all session as a cooler forecast in the U.S. is helping provide price support. Mar nat gas futures rose to a fresh HoD of $3.26/MMBtu and are now +3.3% at $3.26/MMBtu.

Gold and silver futures have extended recent losses and sold off this morning, falling notably. Both precious metals just hit new session lows. Apr gold is now -0.3% at $1604.40/oz, while Mar silver is -1.6% at $29.39/oz.

Mar copper is down 2.1% at $3.66/lb. On the upside, platinum futures are +0.25 at $1681.40/oz and palladium futures are +1.1% at $761.25/oz.DJ30 +43.52 NASDAQ +10.75 SP500 +6.12 NASDAQ Adv/Vol/Dec 1580/521.8 mln/763 NYSE Adv/Vol/Dec 1956/173 mln/888

10:00 am : The major averages are little changed in reaction to the latest NAHB Housing Market Index.

For February, the NAHB Housing Market Index registered a reading of 46, which was lower from the prior month's reading of 47. Today's reading fell short of the Briefing.com consensus which called for a reading of 48.

The SPDR S&P Homebuilders ETF (XHB 29.18, +0.10) slipped off its highs in immediate reaction to the data.DJ30 +54.36 NASDAQ +10.82 SP500 +6.26 NASDAQ Adv/Vol/Dec 1523/333.1 mln/745 NYSE Adv/Vol/Dec 2009/123.3 mln/782

09:50 am : The major averages are registering slim gains in early trade with the S&P 500 adding 0.2%. Equities got off to a generally positive start after reports suggested Office Depot (ODP 5.78, +1.19) and OfficeMax (OMX 13.80, +3.05) may be nearing a stock-for-stock merger agreement. The news is also contributing to relative strength in Staples (SPLS 14.74, +1.79) as the deal would translate into less competition for the office store operator.

Discretionary stocks are trading higher along with nine other S&P 500 sectors. Meanwhile, the health care space is lagging after Centers for Medicare & Medicaid Services proposed lower 2014 co-payments. Cigna (CI 58.62, -2.46) and UnitedHealth Group (UNH 55.55, -1.77) are seeing respective losses of 3.8% and 2.8% while the broader SPDR Health Care Select Sector ETF (XLV 43.37, -0.04) is off by 0.1%.

The February NAHB Housing Market Index will be reported at 10:00 ET.DJ30 +17.13 NASDAQ +4.25 SP500 +3.77 NASDAQ Adv/Vol/Dec 1370/237.7 mln/803 NYSE Adv/Vol/Dec 1836/94.9 mln/878

09:13 am : [BRIEFING.COM] S&P futures vs fair value: +2.70. Nasdaq futures vs fair value: +6.20. Heading into the open, equity futures are signaling a modestly higher start to the session.

Pre-market trade is seeing activity in the shares of office store operators following weekend reports indicating Office Depot (ODP 6.07, +1.48) and OfficeMax (OMX 13.57, +2.82) are in advanced merger talks.

Looking at other early outperformers, Best Buy (BBY 17.57, +0.70) is adding 4.2% after reports suggested the company will extend its holiday policy of price-matching online retailers.

Meanwhile, health care names are poised to start on a lower note after proposed changes to 2014 Medicare payments would lower co-payments. Insurer Humana (HUM 70.16, -7.83) is down 10.0% while Molina Health Care (MOH 32.00, -1.14) and UnitedHealth Group (UNH 54.40, -2.92) are lower by 3.4% and 5.1% respectively.

In today's economic data, the February NAHB Housing Market Index will be reported at 10:00 ET.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +6.70. U.S. equity futures continue to trade near their pre-market highs with the S&P 500 futures up 0.2%. The mildly positive sentiment comes amid upbeat European trade driven in part by a positive German economic sentiment survey.

Domestically, the lone economic data point will come from the NAHB, which will release its February Housing Market Index at 10:00 ET.

Pre-market trade is suggesting an active open. Office supply stores are among the top advancers after Reuters reported Office Depot (ODP 5.97, +1.38) and Office Max (OMX 13.10, +2.35) are in advanced merger talks. Peer Staples (SPLS 14.80, +1.85) is climbing 14.3% on the news.

On the downside, health care providers are seeing early weakness after Centers for Medicare & Medicaid Services proposed lower co-payments for 2014. Cigna (CI 58.20, -2.88), Humana (HUM 71.00, -6.99), Wellcare Health Plans (WCG 56.75, -3.50), and UnitedHealth Group (UNH 54.50, -2.82) are some of the related names indicated to open lower following the announcement.

08:28 am : [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +7.00.

U.S. equity futures continue to trade near their pre-market highs with the S&P 500 futures up 0.2%.

The major Asian bourses ended mixed as China's Shanghai Composite (-1.6%) and Hong Kong's Hang Seng (-1.0%) underperformed. Today's losses marked a second day of selling in Shanghai as markets reopened following the week-long closure for the Lunar New Year. The G20 meetings came and went with little progress as a statement from the group suggested members should avoid competitive devaluations of their currencies. Minutes from the latest Bank of Japan Monetary Policy Statement were released overnight, suggesting no change from its recent loose monetary policy. Meanwhile, Japanese Finance Minister Taro Aso confirmed the central bank has no plans to buy foreign bonds in an effort to end its bout with deflation. Elsewhere, the latest Reserve Bank of Australia minutes showed the central bank has backed off additional easing for the time being as the recent rate cuts work their way through the economy.

In Japan, the Nikkei slipped 0.3% as action holds near its best level since September 2008. Robotics maker Fanuc shed 4.1% following a report that showed tool orders by China were off 65% year-over-year. Meanwhile, automakers will also under pressure as Toyota Motor gave up 0.9% and Nissan Motor lost 1.1%.
Hong Kong's Hang Seng lost 1.0% as property and casino names lagged. Property stocks were lower on reports Beijing is looking to cool home prices on the mainland. China Resources Land was the worst performer in the space, sliding 4.4%. Meanwhile, gaming stocks took a hit after Macau gaming revenues missed estimates for the first half of February. Galaxy Entertainment was the laggard, shedding 4.4%.
In China, the Shanghai Composite settled lower by 1.6% as property and construction stocks saw significant selling pressure. Gemdale tumbled 7.9% and Anhui Chaodong Cement lost 10% (the daily limit).

European indices are broadly higher with France's CAC outperforming, up 1.3%. Looking at economic data, Germany's ZEW Economic Sentiment Survey was reported at 48.2, well ahead of the 35.0 expected by the market. Meanwhile, the Eurozone ZEW Economic Sentiment came in at 42.4, better than the generally expected 35.5. Also of note, Spanish trade deficit narrowed to EUR1.29 billion, better than the 2.40 billion expected by the market. In news, the French foreign minister said the country's 2013 GDP growth target will likely be cut by about 50 basis points to 0.2-0.3%. Elsewhere, Greek Kathimerini reports Greece will hold talks with the Troika next week. This follows a serious shortfall in January revenue.

France's CAC is higher by 1.3% with consumer names outperforming. Danone is higher by 5.3% after announcing plans to cut 900 jobs and reporting strong fourth quarter sales.
In Germany, the DAX is firmer by 1.1% with the upbeat ZEW sentiment contributing to the relative strength. Bayer is adding 3.0% after the drug maker announced the beginning of a new blindness treatment trial.
The United Kingdom's FTSE is rising 0.5% and financials are seeing relative strength. Aberdeen Asset Management and Standard Chartered are both up near 2.3%.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: +2.40. Nasdaq futures vs fair value: +6.00.

U.S. equity futures are modestly higher amid upbeat European trade. The S&P 500 futures are adding 0.2% ahead of the first session of the holiday-shortened week.

Looking at overseas developments:

Asian markets ended on a lower note. China's Shanghai Composite lost 1.6%, Hong Kong's Hang Seng fell 1.0%, and Japan's Nikkei shed 0.3%.
There was no notable economic data released across the region.
In news:
Japan's Finance Minister Taro Aso said the country does not plan to buy foreign bonds and does not plan changes to Bank of Japan law.
The Reserve Bank of Australia released the minutes from its latest meeting where policy was described as accommodative with the economy responding to low interest rates.

European indices are broadly higher. The United Kingdom's FTSE is adding 0.5%, Germany's DAX is higher by 1.3%, and France's CAC is rising 1.6%.
Looking at economic data:
Germany's ZEW Economic Sentiment Survey was reported at 48.2, well ahead of the 35.0 expected by the market.
Eurozone ZEW Economic Sentiment came in at 42.4 while the consensus expected a reading of 35.5.
Spanish trade deficit narrowed to EUR1.29 billion, better than the 2.40 billion expected by the market.
In news:
The French foreign minister said the country's 2013 GDP growth target will likely be cut by about 50 basis points to 0.2-0.3%.
Greek Kathimerini reports Greece will hold talks with the Troika next week. This follows a serious shortfall in January revenue.

In U.S. corporate news:

Health care providers are underperforming following the proposed lowering of 2014 co-payments. Humana (HUM 70.65, -7.34), UnitedHealth Group (UNH 54.01, -3.31), Wellpoint (WLP 61.00, -1.70) are down 9.6%, 5.8%, and 2.7% respectively.
Weekend reports indicated office store operators Office Depot (ODP 6.00, +1.41) and OfficeMax (OMX 12.80, +2.05) are in advanced merger talks. The two are seeing respective gains of 28.5% and 19.1%. Meanwhile, peer Staples (SPLS 14.50, +1.55) is jumping 11.2%.

In today's economic data, the February NAHB Housing Market Index will be reported at 10:00 ET.

06:48 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +1.50.

06:47 am : Nikkei...11372.34...-35.50...-0.30%. Hang Seng...23143.91...-238.00...-1.00%.

06:47 am : FTSE...6339.86...+21.70...+0.30%. DAX...7690.26...+61.50...+0.80%.

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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