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 Post subject: February 27th Wednesday Trade Results - Profit $1720
PostPosted: Thu Feb 28, 2013 10:01 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 (no technical indicators)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1720.00 dollars or +17.20 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 @ $1720.00 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=1447

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

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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, 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.

Dow Rallies To New 5-Year High

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

NEW YORK (CNNMoney)
A rally on Wall Street gained momentum late Wednesday as investors welcomed more upbeat housing data and a second day of dovish testimony from the chairman of the Federal Reserve.

The Dow Jones industrial average rallied 175 points, or 1.2%, to end at its highest level since October 2007. The S&P 500 jumped 1.3% and the Nasdaq gained 1%.

Traders said the rally was a continuation of Tuesday's advance, which came after Fed chairman Ben Bernanke signaled to lawmakers that the central bank's easy money policies would remain in force. Bernanke reiterated his argument Wednesday that the Fed's bond-buying program, known as QE, has helped the economy.

"There's nothing specific to cite," said Dan Greenhaus, market strategist at BTIG in New York. "But if you had to pin it to something, it would be Bernanke saying QE will continue in an environment of improving economic data."

Stocks have been pulling back lately, after a strong start to the year. All three indexes are still up between 6% to 7% so far this year.

Investors also cheered further signs of strength in the housing market.

A realtors group said Wednesday that pending home sales rose in January to the highest level since April 2010. The pending home sales data came one day after reports on home prices and sales came in better than expected.

Homebuilder stocks rallied Wednesday, with shares of Hovnanian (HOV) jumping 5%, leading rivals Toll Brothers (TOL), DR Horton (DHI) and Lennar (LEN).

The housing data overshadowed a mixed report on new orders for long-lasting goods.

The U.S. Census Bureau said durable goods orders dropped $11.8 billion, or 5.2%, in January. This was a steeper decline that the decrease of 3.5% projected by economists. However, excluding transportation, new orders would have increased 1.9%.

Related: Defense stocks in crosshairs

Overall, the durable goods data were "far better than the headline decline suggests," said Paul Ashworth, chief U.S. economist at Capital Economics.

Related: The SEC is investigating Michael Milken

Investors were also encouraged by a successful auction of €6.5 billion in Italian government bonds. Wednesday's bond That helped push European markets higher. Italy has been a concern for investors since elections over the weekend raised concerns about the government's commitment to economic reforms.

Related: The myth of the Great Rotation

Shares of Groupon (GRPN) plunged more than 20% after the online coupon site widely missed forecasts and said sales in the current quarter would fall short of estimates.

Investors were also keeping tabs on Apple's (APPL) annual shareholders meeting.

Apple shareholders did not vote on a controversial proposal that would have limited the company's ability to issue preferred stock. Hedge fund manager David Einhorn, who had launched an activist campaign to unlock some of Apple's $137 billion cash hoard. Apple will put that to a vote at a later date.

Related: Fear & Greed Index smack in the middle of greed

Shares of Priceline (PCLN) rose after the online travel site beat profit forecasts.

First Solar (FSLR) shares sank after the renewable energy firm missed sales forecasts.

Shares of Dollar Tree (DLTR, Fortune 500) jumped after the discount retailer said it earned $1.01 per share on sales of $2.25 billion in the fourth quarter.

Gun maker Sturm Ruger (RGR) will report results after the closing bell, along with J.C. Penney (JCP, Fortune 500), among others.

Asian markets ended mixed. Japan's Nikkei lost 1.3%, while the Shanghai Composite added 0.9% and Hong Kong's Hang Seng increased 0.2%.

Oil prices edged higher while gold prices slipped.

The dollar fell versus the euro and the pound, but gained against the yen.

The yield on the 10-year Treasury note rose to 1.9% from 1.88%.

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4:25 pm : Today's session saw an extension of yesterday's buying as the S&P 500 managed to erase the remainder of its losses from Monday. The broad rally occurred with six of 10 sectors adding in excess of 1.0%. Cyclical stocks led the way with industrials and materials exhibiting relative strength from the start of the session.

Today's economic data provided some support as January pending home sales rose 4.5%, which was ahead of the 1.0% increase that had been expected by the Briefing.com consensus.

In addition to January pending home sales, the market received news of durable goods orders for the same month. Although the headline number fell 5.2%, this was due to a 45.7% drop in defense and nondefense aircraft orders. Excluding transportation, orders rose a solid 1.9% in January.

Industrial shares led throughout the day. This was aided by the strong performance from transportation related stocks, which pushed the Dow Jones Transportation Average to a gain of 2.9%.

Elsewhere in industrials, Joy Global (JOY 63.45, +3.49) jumped 5.8% after its quarterly report beat on earnings and revenue.

Basic materials also finished near the lead after lagging notably in recent sessions. Today, material producers rallied broadly with miners as the lone weak spot. The SPDR Materials Select Sector ETF (XLB 38.42, +0.67) gained 1.8%.

The outperformance of cyclical stocks was also reflected by the consumer discretionary sector where homebuilders climbed on the back of the pending home sales report. Although this report does not have a direct impact on new homes, strong existing sales can be seen as a positive indicator of demand for new properties. The SPDR S&P Homebuilders ETF (XHB 28.37, +0.60) rose 2.2%.

Monday's downturn was sparked by fears that political uncertainty in Italy will upset the recent recovery observed in sovereign debt markets. This expectation caused investors to shun financial shares which exhibit heightened sensitivity to political and market fluctuations. However, today's rebound saw money return to the sector. JPMorgan Chase (JPM 49.28, +1.68) was the best performer among the majors, and the SPDR Financial Select Sector ETF (XLF 17.62, +0.27) gained 1.6%.

As the recent wave of investor fear was leaving the market, Federal Reserve Chairman Ben Bernanke did his best to help chase it away. Earlier today, the Fed Chair concluded his bi-annual, two-day testimony before Congress.

Appearing in front of the House Financial Services Committee, the Chairman continued stressing the benefits of the Fed's asset purchase plan. Today's testimony was largely a carbon copy of yesterday's remarks which confirmed the Federal Reserve's desire to continue its easy-money policy.

Reviewing S&P 500 sector performance, industrials (+1.9%), materials (+1.7%), and financials (+1.6%) settled in the lead while technology (+0.9%), telecoms (+0.9%), and utilities (+0.9%) trailed behind the broader market.

Today's volume was below average as just over 670 million shares changed hands on the floor of the New York Stock Exchange. Notably, today's final tally represented the lowest total since February 14.

Looking at tomorrow's economic news, weekly initial and continuing claims, as well as the second estimate of fourth quarter GDP will all be reported at 8:30 ET. The day's economic data will be topped off with the 9:45 ET release of the February Chicago PMI.DJ30 +175.24 NASDAQ +32.61 SP500 +19.05 NASDAQ Adv/Vol/Dec 1648/1.67 bln/814 NYSE Adv/Vol/Dec 2313/673.3 mln/704

3:30 pm :

Apr crude oil rose to a session high of $93.35 per barrel following better-than-anticipated inventory data that showed a build of 1.13 mln barrels when a build of 2.45 mln barrels was expected. However, prices reversed heading into afternoon action and dipped below the unchanged line to a session low of $92.40 per barrel. The energy component eventually settled 0.2% higher at $92.80 per barrel.
Apr natural gas climbed to a session high of $3.55 per MMBtu but lost momentum heading into afternoon floor trade. It gave up all of its earlier gains as prices fell into negative territory and to a session low of $3.42 per MMBtu. Unable to erase much of the loss, natural gas settled 0.9% lower at $3.43 per MMBtu.
Apr gold fell deeper into negative territory following durable goods orders and pending home sales data released this morning. The yellow metal touched a session high of $1610.50 per ounce shortly after floor trade opened but inched lower for the remainder of the session despite weakness in the dollar index. It brushed a session low of $1592.60 per ounce as it headed into the close and settled with a 1.2% loss at $1595.70 per ounce.
May silver also trended lower in today's floor trade. It pulled-back from its session high of $29.26 per ounce and settled 1.1% lower at $29.00 per ounce, slightly above its session low of $28.86 per ounce.

DJ30 +188.51 NASDAQ +44.62 SP500 +21.56 NASDAQ Adv/Vol/Dec 1736/1389.4 mln/727 NYSE Adv/Vol/Dec 2332/457 mln/645

3:00 pm : Heading into the final hour of action, the S&P 500 is hovering at its session high. After registering modest gains yesterday, the market got off to a roaring start and climbed steadily through the afternoon.

Cyclical stocks have paced today's advance with transportation-related shares outperforming. The Dow Jones Transportation Average is surging 3.1%.

Today's continued bid in the equity markets has taken some steam out of the Treasury market, which was registering solid gains ahead of the start of trading. The 10-year note, up 10 ticks pre-market, is now down three ticks with its yield pushing 1.90%.DJ30 +173.13 NASDAQ +46.57 SP500 +20.49 NASDAQ Adv/Vol/Dec 1715/1.23 bln/731 NYSE Adv/Vol/Dec 2302/406.4 mln/671

2:25 pm : Quiet afternoon trade continues with the S&P 500 at its best level of the day. Afternoon trade is continuing in mechanical fashion as the weakest sectors of the day attempt to recouple with the top performers. Cyclical stocks remain in the lead with defensively-oriented sectors bringing up the rear.

The market rally of the past two days has lifted the S&P 500 back to its Monday open before the deadlock in the Italian general election sent shockwaves through the markets. Though U.S. equities have recovered their losses, the same cannot be said for Italian stocks. The iShares MSCI Italy Capped Index ETF (EWI 12.52, +0.23) trades 7.1% below its Monday open.DJ30 +161.41 NASDAQ +39.99 SP500 +19.24 NASDAQ Adv/Vol/Dec 1692/1.12 bln/733 NYSE Adv/Vol/Dec 2305/367.9 mln/660

2:00 pm : The S&P 500 has spent the past 90 minutes in a narrow two point range as the benchmark average hovers near its session highs. In addition, all three major indices are registering comparable gains.

As the afternoon progresses, six of 10 S&P 500 sectors are adding over 1.0%. Consumer staples are lagging and the SPDR Consumer Staples Select Sector ETF (XLP 38.04, +0.20) is higher by 0.5%. Though the sector is underperforming, the weakness appears to be contained to tobacco and distiller stocks.

With the markets rallying, the CBOE Volatility Index (VIX 14.94, -1.93) is down over 10.0%. The near-term volatility measure is slipping for the second consecutive day, but it remains above its Monday open.DJ30 +140.65 NASDAQ +33.12 SP500 +16.00 NASDAQ Adv/Vol/Dec 1628/1.04 bln/790 NYSE Adv/Vol/Dec 2240/340.8 mln/716

1:30 pm : The S&P 500 has seen little change in recent trade after climbing to its session high in the 1514 area. Basic materials and industrials continue to lead the broader market with other high-beta sectors attempting to catch up to the leaders.

Notably, the technology space has been more tentative in its advance. The SPDR Technology Select Sector ETF (XLK 29.67, +0.23) is adding 0.8%, but its largest component, Apple (AAPL 443.10, -5.84), is down 1.3% after today's shareholder meeting did not signal any major changes in the company's cash policy. Elsewhere in tech, chipmakers are faring well and the PHLX Semiconductor Index is firmer by 1.6%.DJ30 +134.66 NASDAQ +32.60 SP500 +15.23 NASDAQ Adv/Vol/Dec 1601/941.4 mln/804 NYSE Adv/Vol/Dec 2204/314.2 mln/723

1:05 pm : At midday, the S&P 500 is higher by 1.1% as the index trades near its session high. The key averages have spent the first half of today's session in a steady upward climb with cyclical sectors pushing the broader market higher.

Stocks began climbing out of the gate as industrials and materials led the rally in its initial stages. Notably, the Dow Jones Transportation Average surged higher, and is now rising 2.8%. Although transportation stocks are registering gains across the board, JB Hunt (JBHT 69.60, +3.24) and Kansas City Southern (KSU 105.24, +7.40) were the two early outperformers.

Elsewhere in the industrial space, Joy Global (JOY 63.16, +3.20) is higher by 5.3% following better-than-expected earnings and revenue.

The materials sector is also one of the day's leaders as the space rebounds from notable weakness dating back to last week. The SPDR Materials Select Sector ETF (XLB 38.33, +0.58) is rising 1.5%.

The first half of the session also found considerable support in consumer discretionary stocks. Homebuilders are up across the board and the SPDR S&P Homebuilders ETF (XHB 28.26, +0.49) is hovering near its session highs. The strength followed a better-than-expected pending home sales report which showed a 4.5% rise in January sales. Though the report doesn't impact homebuilders directly, healthy demand for pending home is a positive signal when gauging demand for new homes.

Housing was also brought up during Ben Bernanke's testimony before the House Financial Services Committee. The second part of the two-day testimony was largely reflective of yesterday's remarks and the Fed Chairman commented on the need to continue supporting the housing recovery.

In addition to January pending home sales, the market received news of durable goods orders for the same month. Although the headline number fell 5.2%, this was due to a 45.7% drop in defense and nondefense aircraft orders. Excluding transportation, orders rose a solid 1.9% in January.

With cyclical shares marching higher, some defensively-oriented sectors have been more tentative in their advance. Consumer staples are underperforming for the second consecutive session as tobacco-related names weigh. Altria (MO 33.86, -0.43) and Lorillard (LO 38.60, -0.91) are registering respective losses of 1.4% and 2.7% after receiving pre-market downgrades.DJ30 +131.91 NASDAQ +32.26 SP500 +15.12 NASDAQ Adv/Vol/Dec 1609/867.2 mln/769 NYSE Adv/Vol/Dec 2219/292.2 mln/694

12:30 pm : The S&P 500 has notched fresh highs in recent trade with all 10 sectors marking their best levels of the day as well. Currently, seven of 10 sectors are registering gains in excess of 1.0% with industrials and materials remaining in the lead.

On the downside, consumer staples are adding just 0.4% as tobacco-related names weigh. Altria (MO 33.86, -0.44) and Lorillard (LO 38.66, -0.84) are seeing respective losses of 1.3% and 2.1% after receiving downgrades.DJ30 +138.23 NASDAQ +39.53 SP500 +16.96 NASDAQ Adv/Vol/Dec 1668/761.2 mln/685 NYSE Adv/Vol/Dec 2266/263.8 mln/652

12:00 pm : The S&P 500 is adding 0.8% after climbing steadily through the first two hours of the session. A broad market advance led by industrials and materials has pushed the key indices to their highs. Similarly, consumer discretionary stocks and energy are also among the top performers.

The market received two notable economic data points today. January durable goods orders decreased by 5.2% but the drop resulted from a 45.7% decline in defense and nondefense aircraft orders. Excluding transportation, orders rose a solid 1.9% in January. During the same month, pending home sales rose 4.5%, which was better than the 1.0% increase forecast by the Briefing.com consensus. Today's reading follows last month's drop of 4.3%.

In quarterly reports of note, manufacturer of heavy machinery Joy Global (JOY 62.25, +2.29) is higher by 4.0% after beating on earnings and revenue.DJ30 +100.01 NASDAQ +30.51 SP500 +12.41 NASDAQ Adv/Vol/Dec 1613/657.8 mln/712 NYSE Adv/Vol/Dec 2201/232.9 mln/689

11:30 am : Equities continue to trade near their recently established highs with the S&P 500 up 0.8%. The market rally is being fueled by the outperformance of cyclical sectors. Discretionary, industrial, and material stocks are all adding in excess of 1.0%.

The discretionary sector is seeing outperformance from homebuilders. The SPDR S&P Homebuilders ETF (XHB 28.29, +0.52) is rising 1.9% after January pending home sales reflected healthy demand for existing homes. A strong pending home sales report is being seen as a positive indicator for new home sales as well.

Elsewhere, industrials are climbing as transportation-related stocks outperform. The Dow Jones Transportation Average is surging 2.8% with 19 of 20 components seeing gains in excess of 1.0%.

Lastly, materials are rebounding after the sector saw notable selling dating back to last week. The SPDR Materials Select Sector ETF (XLB 38.24, +0.49) is adding 1.3%.DJ30 +94.55 NASDAQ +29.27 SP500 +11.57 NASDAQ Adv/Vol/Dec 1598/563.2 mln/706 NYSE Adv/Vol/Dec 2190/202.1 mln/670

10:55 am : The major averages are registering modest gains with the S&P 500 firmer by 0.6%. As the key indices trade in positive territory, financials, materials, and industrials are pacing the advance.

The industrial sector is the top performer amid strength in transportation stocks. The Dow Jones Transportation Average is surging 2.4% as all 20 components trade with gains. Kansas City Southern (KSU 105.65, +7.80) and JB Hunt (JBHT 69.51, +3.15) are the top index performers as they trade with respective gains of 8.1% and 4.7%. With the transportation average surging ahead, only Landstar (LSTR 54.00, +0.20) is adding less than 1.0%.

On the downside, staple stocks are underperforming as tobacco related names weigh. Altria (MO 33.56, -0.74) and Lorillard (LO 38.63, -0.87) are both down near 2.0% after receiving downgrades.DJ30 +72.49 NASDAQ +22.21 SP500 +8.49 NASDAQ Adv/Vol/Dec 1535/435.2 mln/737 NYSE Adv/Vol/Dec 2091/162.1 mln/715

10:35 am : Crude oil and natural gas futures have rallied this morning, pushing natural gas to a new session high and pushing crude oil futures back into positive territory and back near the $93 level.

Crude oil was around $92.84-92.85 just ahead of the weekly inventory data and following the data, crude ticked only ~$0.10 higher. Apr crude is now +0.3% at $92.88/barrel.

Natural gas futures just rose to a new session high of $3.54 ahead of tomorrow's weekly inventory data. In current trade, Apr nat gas is +2.3% at $3.54/MMBtu.

Precious metals remain lower and not far above their current session lows. Apr gold is now trading -0.7% at $1603.90/oz and Mar silver is -0.6% at $29.14/oz. May copper is now -0.2% at $3.57/lb. DJ30 +78.56 NASDAQ +20.55 SP500 +9.06 NASDAQ Adv/Vol/Dec 1533/345.5 mln/696 NYSE Adv/Vol/Dec 2111/137 mln/689

10:00 am : The S&P 500 is adding 0.3%, trading at its session high following the January pending home sales report.

Pending home sales for January rose 4.5%, which was better than the 1.0% increase forecast by the Briefing.com consensus. Today's reading follows last month's drop of 4.3%.DJ30 +43.12 NASDAQ +9.18 SP500 +4.97 NASDAQ Adv/Vol/Dec 1343/188.1 mln/777 NYSE Adv/Vol/Dec 1906/88.7 mln/765

09:50 am : The major averages have climbed to their respective highs following a slightly lower open. The S&P 500 is adding 0.2% and early sector alignment reveals the outperformance from cyclical sectors. Financials, industrials, and consumer discretionary stocks all lead to the upside while consumer staples, telecoms, and technology are currently flat.

Among notable early outperformers, Joy Global (JOY 60.46, +0.50) is rising 0.9% after beating on earnings and revenue.

In today's economic data, January durable goods orders decreased by 5.2%, which was worse than the 3.5% decrease that had been expected among economists polled by Briefing.com. The headline miss was due to a 45.7% drop in defense and nondefense aircraft orders. While the overall drop in orders was definitely more than expected, the report was actually strong in terms of demand for business capital. Excluding transportation, orders rose a solid 1.9% in January.

January pending home sales will be reported at 10:00 ET.DJ30 +23.89 NASDAQ +3.20 SP500 +2.59 NASDAQ Adv/Vol/Dec 1216/120.1 mln/816 NYSE Adv/Vol/Dec 1739/66.5 mln/858

09:16 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -0.30. Heading into the open, equity futures are pointing to a slightly higher start to the session. The S&P 500 futures are registering fractional gains while futures on the Nasdaq are adding 0.1%.

Looking at today's economic data, January durable goods orders decreased by 5.2%, which was worse than the 3.5% decrease that had been expected among economists polled by Briefing.com. Aircraft orders were responsible for a majority of the January decline with defense and nondefense aircraft orders falling a combined 45.7%. While the overall drop in orders was definitely more than expected, the report was actually strong in terms of demand for business capital. Excluding transportation, orders rose a solid 1.9% in January.

The market still awaits the January pending home sales report which will be released at 10:00 ET. Also at 10:00 ET, Federal Reserve Chairman Ben Bernanke will testify before the House Financial Services Committee, concluding the two-day event. This testimony is not expected to produce much news of note as Mr. Bernanke appeared before the Senate yesterday.

In corporate earnings, Target (TGT 62.16, -1.89) is sliding 3.0% despite reporting in-line earnings and revenue. Regarding outlook, the retailer expects its first quarter earnings to come in ahead of the Capital IQ consensus while full-year earnings were guided in-line with analyst estimates.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -1.00.

U.S. equity futures are trading near the middle of their pre-market range with the S&P 500 futures up 0.1%.

The major Asian bourses ended mostly higher, buoyed by yesterday's strong gains on Wall Street. Japan's Nikkei (-1.3%) was a notable laggard as the yen continued to strengthen. Data from the region saw Japanese retail sales (-1.1% year-over-year actual v. -1.4% expected) top estimates and Australia's construction work done (-0.1% quarter-over-quarter actual v. 1.5% expected) miss. Elsewhere, Hong Kong's GDP rose 1.2% quarter-over-quarter (1.5% expected) while Taiwanese Industrial Production surged 19.2% year-over-year (16.8% expected).

In Japan, the Nikkei lost 1.3%, posting its biggest two-day decline since November 2011. Exporters remained under pressure thanks to the strong yen as Toyota Motor shed 2.3% and Canon lost 2.7%. Elsewhere, cable-maker Fujikura surged 9.4% after the company announced a buyback amounting to 2.9% of its shares outstanding.
Hong Kong's Hang Seng added 0.3%, buoyed by solid earnings. Insurer AIA rallied 3.2% after its quarterly results topped analyst estimates, and New World Development gained 3.8% after its earnings beat.
In China, the Shanghai Composite settled higher by 0.9% as brokerage firms lead the way. Citic Securities and Haitong Securities both gained at least 3.0% after the China Securities Regulatory Commission announced a simplification to its application process.

European indices are registering slim gains as they rebound from the selling of the past two days. Looking at notable regional economic data, the Eurozone M3 money supply grew 3.5% year-over-year, ahead of the 3.2% growth expected by the general consensus. Meanwhile, private loans slipped 0.9% month-over-month, worse than the decline of 0.6% that had been expected by the market. Lastly, the business and consumer survey was reported at 91.1, ahead of the 89.8 forecast by the market. Elsewhere, the United Kingdom's fourth quarter GDP was left unchanged at -0.3%. Meanwhile, 2012 GDP was revised from a no growth reading to +0.2%.

In news, Italy auctioned off 5- and 10-yr debt in an auction which met its target. However, yields were notably higher with 5- and 10-yr yielding 3.59% and 4.83% respectively. Both figures were about 70 basis points ahead of yields from previous auctions. Also of note, one of Germany's economic advisors, Lars Feld, said the results of the Italian election could cause the euro crisis to return "with a vengeance."

In the United Kingdom, the FTSE is higher by 0.2%. Weir Group is jumping 5.8% after the company forecast a dividend hike. On the downside, Petrofac is losing 6.0% following the news it plans to spend up to $1 billion over the next five years on capital expenditures.
Germany's DAX is adding 0.2% with consumer stocks in the lead. Daimler and Henkel AG are both up near 1.0%. Meanwhile, financials are underperforming. Commerzbank and Deutsche Bank are both down near 1.1%.
France's CAC is rising 0.8% with industrials rallying. Bouygues is surging 10.5% after the company forecast margin expansion in 2013.
On the periphery, Italy's MIB is firmer by 0.8% and Spain's IBEX is adding 0.7%. In addition, benchmark yields of the two countries are registering slim declines. Italy's 10-yr yield is down four basis points to 4.83% while Spain's 10-yr yield is lower by five basis points, to 5.28%.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +0.70. Equity futures ticked higher following the release of the latest durable goods data. The S&P 500 futures are adding 0.1%.

January durable goods orders decreased by 5.2%, which was worse than the 3.5% decrease that had been expected among economists polled by Briefing.com. This comes after the prior month's reading was revised down to reflect an increase of 3.7%.

Excluding transportation related items, durable goods orders increased by 1.9%, which was better than the uptick of 0.2% that had been broadly anticipated.

08:05 am : [BRIEFING.COM] S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +0.70.

U.S. equity futures are registering slim gains amid upbeat European trade. The S&P 500 futures are adding 0.2%, trading near their pre-market highs.

Looking at overseas developments:

Asian markets ended on a mixed note. Hong Kong's Hang Seng added 0.3%, China's Shanghai Composite gained 0.9% while Japan's Nikkei slipped 1.3%.
In notable economic data:
Japan's retail sales slipped 1.1% month-over-month, which was slightly ahead of the 1.3% downtick expected by the market.
Hong Kong's GDP rose 1.2% quarter-over-quarter, worse than the broadly expected growth of 1.5%.
Looking at news:
In its second consecutive quarterly cut, the Bank of Japan has lowered its economic assessment for eight of nine regions.
The Chinese press reported People's Bank of China is gauging market demand for reverse repurchase operations after draining a record amount of liquidity last week.

European indices are registering slim gains. The United Kingdom's FTSE is adding 0.3%, Germany's DAX is firmer by 0.3% and France's CAC is up 0.7%. Elsewhere, Italy's MIB is rising 0.6% and Spain's IBEX is higher by 0.7%.
Looking at regional economic data:
The Eurozone M3 money supply grew 3.5% year-over-year, ahead of the 3.2% growth expected by the general consensus. Meanwhile, private loans slipped 0.9% month-over-month, worse than the decline of 0.6% that had been expected by the market. Lastly, the business and consumer survey was reported at 91.1, ahead of the 89.8 forecast by the market.
The United Kingdom's fourth quarter GDP was left unchanged at -0.3%. Meanwhile, 2012 GDP was revised from a no growth reading to +0.2%.
In news:
Italy auctioned off 5- and 10-yr debt in an auction which met its target. However, yields were notably higher with 5- and 10-yr yielding 3.59% and 4.83% respectively. Both figures were about 70 basis points ahead of yields from previous auctions.
While speaking to a German newspaper, one of the country's economic advisors, Lars Feld, said the results of the Italian election could cause the euro crisis to return "with a vengeance."

In U.S. corporate news:

Best Buy (BBY 16.01, -0.45) is off by 2.7% after the company delayed its earnings report in anticipation of a buyout bid from the company founder, Richard Schulze. However, other reports have indicated Mr. Schulze may be facing difficulty in securing private equity financing.
First Solar (FSLR 27.01, -4.35) is down 13.9% after reporting better-than-expected earnings on revenue below consensus. The company's guidance was also a point of concern as First Solar expects first quarter earnings and revenue to come in below analyst expectations.
Target (TGT 65.10, +1.05) is rising 1.6% after reporting in-line earnings and revenue. In addition, the company guided first quarter earnings ahead of consensus estimates while full-year earnings guidance was in-line with expectations. The weekly MBA Mortgage Index slipped 3.8% to follow the prior week's decline of 1.7%.

In today's remaining economic data, January durable goods and durable goods ex-transportation will be released at 8:30 ET while January pending home sales will be reported at 10:00 ET. Also at 10:00 ET, Fed Chairman Ben Bernanke will testify before the House Financial Services Committee, concluding the two-day event.

The U.S. Treasury will auction off $29 billion in 7-yr notes.

06:44 am : [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: -2.00.

06:44 am : Nikkei...11253.97...-144.80...-1.30%. Hang Seng...22577.01...+57.30...+0.30%.

06:44 am : FTSE...6279.77...+9.30...+0.20%. DAX...7598.53...+1.40...0.00.

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

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

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