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 Post subject: March 7th Thursday Trade Results - Profit $80
PostPosted: Thu Mar 07, 2013 9:57 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $80.00 dollars or +0.80 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 @ $80.00 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=115&t=1455

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=205&t=1773

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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 Continues Record Run

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

NEW YORK (CNNMoney)
The Dow finished at a new record Thursday, as the blue chip index and the S&P 500 advanced for a fifth straight day.

The Dow Jones industrial average rose 0.2%, reaching a record high of 14,329.49. Earlier in the day, the Dow also climbed to an intraday all-time high of 14,354.69.

The S&P 500, now just 2% away from its all-time high, rose 0.2%, while the Nasdaq increased 0.3%.

The recent rally has been driven by a series of strong economic reports, particularly related to the job market and manufacturing, said Marc Chandler, strategist for Brown Brothers Harriman.

The U.S. economy has proven itself "fairly resistant to the fiscal cliff and the sequester," he said.

Ahead of Thursday's open, the Department of Labor reported that initial jobless claims fell to 340,000 last week. That was down from an upwardly revised tally of 347,000 the prior week and lower than the 350,000 forecast economists had expected.

This week's report on private-sector job growth from payroll processing firm ADP was also better than expected, raising hopes that Friday's February jobs report, due before the opening bell, would also be strong.

Economists surveyed by CNNMoney expect a gain of 170,000 jobs for the month.

* Betting on boring stocks pays off

Meanwhile, earnings season is winding down with a smattering of companies still reporting.

SolarCity (SCTY) shares sank 14% after the company missed earnings estimates.

Following the closing bell Thursday, online music streaming firm Pandora Media (P) posted a smaller-than-expected loss and beat revenue forecasts, sending shares up 16% in after-hours trading.

In other corporate news, Time Warner (TWX, Fortune 500), which owns CNNMoney, announced plans late Wednesday to spin off its Time Inc. magazine business into a separate publicly traded company. Shares of rival publisher Meredith (MDP), which was previously in talks to buy most of the the Time Inc. brands, tumbled 6%.

Gap (GPS, Fortune 500) shares jumped 4% after the company said its global same-stores sales rose 3% in February, topping expectations.

* Fear & Greed Index edging toward extreme greed

European markets finished higher, after the European Central Bank and the Bank of England announced they would keep their rates unchanged. Both moves were widely expected.

ECB President Mario Draghi also said the central bank's stance would remain "accommodative" for as long as necessary, and the bank was considering whether it could do anything more to make lenders less risk averse.

Asian markets ended mixed. The Shanghai Composite lost 1%, the Hang Seng was flat and Japan's Nikkei rose 0.3%.

The dollar fell versus the euro and the British pound, but rose versus the Japanese yen.

Oil and gold prices advanced slightly.

The price on the 10-year Treasury fell, pushing the yield up to 1.99% from 1.94% late Wednesday.

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4:20 pm : The major averages ended today's session on a positive note. After spending the day in a narrow range, the Nasdaq settled as the top performing index with a gain of 0.3%.

In many ways, today's session mimicked yesterday's range bound affair with financials and materials settling in the lead.

Major financials outperformed even as the market awaited the Federal Reserve's CCAR report, scheduled for after the close. This is more commonly known as a bank stress test, and should provide some insight on the health of the banking sector. Bank of America (BAC 12.26, +0.34) was the top performer among the majors while the broader SPDR Financial Select Sector ETF (XLF 18.19, +0.13) gained 0.7%.

Today's outperformance of the materials sector was aided by steelmakers. This was the second consecutive session where steel producers acted in support of the sector. The Market Vectors Steel ETF (SLX 45.75, +0.20) added 0.4%.

The technology sector also displayed relative strength as its largest component, Apple (AAPL 430.58, +4.92), settled higher by 1.2%.

Several networking-related names outperformed after Ciena (CIEN 17.53, +2.59) reported first quarter earnings well ahead of its Capital IQ consensus estimate. Investors viewed the report as a positive sign regarding the health of Ciena's peers. F5 Networks (FFIV 94.23, +1.12) and JDS Uniphase (JDSU 15.23, +1.08) ended with respective gains of 1.2% and 7.6%.

Equities were driven higher by cyclical sectors, but the Dow Jones Transportation Average-which has climbed 14.6% year-to-date-was absent from the rally. The bellwether complex lost 0.5% amid broad weakness in railroads.

While the record-setting levels in the Dow Jones Industrial Average received notable headline attention, the Dow Jones Transportation Average was setting an all-time high of its own. The transports marked fresh highs shortly after yesterday's open, but have surrendered nearly 2.0% since.

The underperformance of a group which made large contributions to this year's rally bears noting. However, since the broader market registered gains today, this suggests money was moving around the market rather than out of the market.

On the downside, defensively-oriented consumer staples, health care, and utilities registered losses. The utilities sector was the weakest performer and the SPDR Utilities Select Sector ETF (XLU 37.89, -0.17) shed 0.5%.

Investors received a handful of economic data points today. Weekly initial claims were reported at 340,000 while the Briefing.com consensus had expected a reading of 350,000. The report was encouraging as this was the second week which saw claims remain below the 350,000-400,000 range observed for much of last year.

Productivity was revised slightly higher to show a 1.9% decline versus a 2.0% decline that was previously reported. Unit labor costs were revised up to show a 4.6% increase versus the prior reading showing a 4.5% increase.

January trade deficit widened to $44.4 billion from $38.1 billion in December. Today's reading fell short of the $43.0 billion deficit expected by the Briefing.com consensus and the January report is apt to be a negative factor in many economists' models for first quarter GDP growth forecast.

According to the Federal Reserve, consumer credit increased by $16.2 billion in January. This follows the prior month's revised $15.1 billion increase, and is higher than the $12.8 billion that had been broadly expected among economists polled by Briefing.com.

Tomorrow's economic data will focus on jobs. February nonfarm payrolls, nonfarm private payrolls, unemployment rate, hourly earnings, and average workweek are all scheduled for an 8:30 ET release. Lastly, January wholesale inventories will be reported at 10:00 ET.DJ30 +33.25 NASDAQ +9.72 SP500 +2.80 NASDAQ Adv/Vol/Dec 1492/1.62 bln/962 NYSE Adv/Vol/Dec 1751/708.4 mln/1270

3:30 pm :

Apr crude oil traded higher during today's floor trade as it got a boost from a weaker dollar index. The energy component touched a session low of $90.90 per barrel as the equity market opened and rose to a session high of $91.73 per barrel in mid-morning action. It managed to hold on to most of the gains and settled 1.2% higher at $91.53 per barrel.
Apr natural gas surged to a session high of $3.60 per MMBtu following better-than-expected inventory data that showed a draw of 146 bcf when a draw of 133 bcf was anticipated. It then traded in a consolidative pattern just below that level and settled the session with a 3.5% gain at $3.59 per MMBtu.
Apr gold touched a session high of $1584.60 per ounce shortly after floor trade opened as the dollar index slipped deeper into negative territory on ECB's decision to leave interest rates unchanged. However, the yellow metal lost momentum and inched lower towards the unchanged line as it headed into afternoon action. It eventually settled just 50 cents higher at $1575.10 per ounce.
May silver also popped to a session high of $29.08 per ounce in early morning pit trade and gave up the early gains as the session progressed. It dipped into negative territory and to a session low of $28.74 per ounce moments before settling just one penny higher at $28.81 per ounce.

DJ30 +36.47 NASDAQ +8.470 SP500 +3.28 NASDAQ Adv/Vol/Dec 1381/1360.8 mln/1059 NYSE Adv/Vol/Dec 1658/459 mln/1312

3:05 pm : The major averages continue to register modest gains with the S&P 500 firmer by 0.2%.

According to the Federal Reserve, consumer credit increased by $16.2 billion in January. This follows the prior month's revised $15.1 billion increase, and is higher than the $12.8 billion that had been broadly expected among economists polled by Briefing.com.DJ30 +31.89 NASDAQ +7.10 SP500 +2.44 NASDAQ Adv/Vol/Dec 1347/1.23 bln/1101 NYSE Adv/Vol/Dec 1626/422.5 mln/1344

2:30 pm : Despite facing some recent selling pressure, the major averages continue to trade in the positive territory. However, the S&P 500 is now adding just one point.

The afternoon underperformance took place as five of ten sectors slipped to their lows. In addition, the Dow Jones Transportation Average has declined steadily through the afternoon and is now down 0.8%.

Despite the recent weakness, financials continue to trade ahead of the broader market with the SPDR Financial Select Sector ETF (XLF 18.16, +0.10) higher by 0.6%. Note that the Federal Reserve is scheduled to release the results of the first round of its CCAR report after the close. This is more commonly known as a bank stress test, which will provide some insight on the health of the banking sector.DJ30 +32.07 NASDAQ +4.36 SP500 +2.12 NASDAQ Adv/Vol/Dec 1294/1.11 bln/1139 NYSE Adv/Vol/Dec 1641/387.7 mln/1319

2:00 pm : Recent trade has seen the major averages slip to their afternoon lows. However, the three indices continue to trade in the black with the S&P 500 firmer by 0.2%.

The recent weakness occurred as consumer staples, industrials, and utilities slid to their lows. In addition, the Dow Jones Transportation Average has notched a fresh low of its own. The underperformance of the bellwether sector is notable as the space was one of the leaders of this year's broad market rally. However, since notching its all-time high at yesterday's open, the Transportation Average has shed more than 2.0%.DJ30 +35.65 NASDAQ +5.57 SP500 +2.33 NASDAQ Adv/Vol/Dec 1305/1.02 bln/1127 NYSE Adv/Vol/Dec 1633/356.1 mln/1314

1:30 pm : The major averages continue to trade near their session highs. The Dow remains as the top performing index, up 0.3%.

With the key indices maintaining their gains, sector leadership remains unchanged. Financials and materials are the top performers with consumer staples and utilities bringing up the rear.

Notably, the Dow Jones Transportation Average has extended its losses. The bellwether complex is now down 0.8% with railroads pressuring the index to session lows. Union Pacific (UNP 136.36, -2.60) is down 1.9% and Norfolk Southern (NSC 73.26, -1.14) is off by 1.5%.DJ30 +42.61 NASDAQ +5.12 SP500 +2.74 NASDAQ Adv/Vol/Dec 1304/941.9 mln/1120 NYSE Adv/Vol/Dec 1654/331.1 mln/1291

1:00 pm : The major averages started today's session on an upbeat note. Shortly after the open, the Dow extended its record high, hitting 14,354.69. Since then, the blue chip average has hovered near the top of its range. Meanwhile, the S&P 500 and Nasdaq have displayed more volatility before returning to their opening highs.

Financials and materials finished as yesterday's session leaders. Similarly, the two sectors are pacing today's advance. The SPDR Financial Select Sector ETF (XLF 18.20, +0.14) trades higher by 0.8% with outperformance from most majors. Bank stocks are trading broadly higher with the Federal Reserve scheduled to release the results of the first round of its CCAR report after the close. This is more commonly known as a bank stress test, and will provide some insight on the health of the banking sector.

Today's other leader, materials, is outperforming on the back of steelmakers. Steel producers outperformed yesterday, and are once again registering broad gains. The Market Vectors Steel ETF (SLX 45.99, +0.44) is firmer by 1.0%.

Technology stocks are also seeing strength with the largest sector component, Apple (AAPL 429.69, +4.03), higher by 1.0%.

In notable earnings reaction, Ciena (CIEN 17.41, +2.47) is surging 16.5% after the networking company reported first quarter earnings well ahead of its Capital IQ consensus estimate. The strong report was viewed as a positive for Ciena's peers. F5 Networks (FFIV 94.87, +1.76) and JDS Uniphase (JDSU 15.14, +0.99) trade with respective gains of 1.9% and 6.9%.

While growth-oriented stocks are contributing to today's gains, the Dow Jones Transportation Average is lagging. The bellwether complex trades lower by 0.6% after being one of the top performers year-to-date. Since the start of January, Dow Transports have climbed 14.7% versus a 9.4% advance in the Dow Jones.

Investors received a handful of economic data points prior to today's open. Weekly initial claims were reported at 340,000 while the Briefing.com consensus had expected a reading of 350,000. The report was encouraging as this was the second week which saw claims remain below the 350,000-400,000 range observed for much of last year.

Productivity was revised slightly higher to show a 1.9% decline versus a 2.0% decline that was previously reported. Unit labor costs were revised up to show a 4.6% increase versus the prior reading showing a 4.5% increase.

January trade deficit widened to $44.4 billion from $38.1 billion in December. Today's reading fell short of the $43.0 billion deficit expected by the Briefing.com consensus and the January report is apt to be a negative factor in many economists' models for first quarter GDP growth forecast.

The day's economic data will be topped off with the 15:00 ET release of the January consumer credit report.DJ30 +45.03 NASDAQ +8.56 SP500 +3.53 NASDAQ Adv/Vol/Dec 1320/848.6 mln/1091 NYSE Adv/Vol/Dec 1688/301.8 mln/1242

12:30 pm : Quiet trade continues with the major averages trading within earshot of their session highs.

Cyclical sectors have paced today's gains and the financial sector is leading the broader market. Major banks are trading firmly higher as the first round of the Federal Reserve's CCAR report is scheduled to be released after the close. The CCAR report is also known as the bank "stress test."

While financials trade broadly higher, defensive sectors are lagging behind the broader market. The utilities sector is the weakest performer and the SPDR Utilities Select Sector ETF (XLU 38.02, -0.04) is off by 0.1%.DJ30 +48.44 NASDAQ +7.66 SP500 +3.43 NASDAQ Adv/Vol/Dec 1290/769.7 mln/1103 NYSE Adv/Vol/Dec 1663/276.3 mln/1235

12:00 pm : Recent trade has seen little change from the major averages as they continue to trade near their respective highs.

Today's advance is being paced by cyclical sectors with financials, technology, and materials as the current leaders. Meanwhile, defensive sectors are trailing behind the broader market. Utilities are currently seeing the largest weakness with the SPDR Utilities Select Sector ETF (XLU 38.00, -0.06) off by 0.2%.

While growth-oriented sectors are contributing to today's gains, the Dow Jones Transportation Average is absent from the lead. The bellwether complex trades lower by 0.4% after being one of the top performers year-to-date. Since the start of January, Dow Transports have climbed 14.7% versus a 9.5% advance in the Dow Jones.DJ30 +45.89 NASDAQ +6.94 SP500 +3.08 NASDAQ Adv/Vol/Dec 1279/694.9 mln/1086 NYSE Adv/Vol/Dec 1654/254.8 mln/1251

11:30 am : The major averages continue to register modest gains with the Dow as the top performer. The 30-stock average is higher by 0.3%.

Today's trade takes place with leadership from cyclical sectors. Energy, financials, and materials are all registering gains ahead of the broader market. On the downside, defensively oriented consumer staples, health care, and utilities are registering slim losses.

Notably, the Dow Jones Transportation Average, which paced the rally of recent weeks, trades lower by 0.6%. Union Pacific (UNP 136.50, -2.46) and Norfolk Southern (NSC 73.24, -1.17) are both down near 1.5% as railroads weigh on the bellwether complex.DJ30 +47.55 NASDAQ +7.54 SP500 +3.02 NASDAQ Adv/Vol/Dec 1309/591.1 mln/1043 NYSE Adv/Vol/Dec 1656/225.1 mln/1213

11:00 am : The major averages are trading with modest gains. The Dow continues to hover near its session high while the S&P 500 and Nasdaq have been more tentative in their advance.

The financial sector has been the best performer since the open. The SPDR Financial Select Sector ETF (XLF 18.17, +0.11) is firmer by 0.6% with notable strength among the majors. Bank of America (BAC 12.20, +0.28) and Goldman Sachs (GS 156.52, +2.39) trade higher by 2.3% and 1.6% respectively.

The sector will be in focus after the close today when the Federal Reserve releases the results of the first round of its CCAR report (also known as the stress tests).DJ30 +47.07 NASDAQ +3.90 SP500 +2.22 NASDAQ Adv/Vol/Dec 1262/491.2 mln/1049 NYSE Adv/Vol/Dec 1613/194.1 mln/1238

10:30 am : Natural gas futures rallied to a new HoD of $3.55/MMBtu, just ahead of the weekly inventory data. Following the data, nat gas spiked 2% to a new HoD of $3.60/MMBtu on a larger-than-expected draw.

Commodities overall have shown a lot of volatility so far following notable weakness in the dollar index, as well as this morning's economic data and BoJ and ECB actions.

Crude oil and precious metals surged higher earlier this morning, and while crude has held its gains, gold and silver have been pulling back. In current trade, Apr crude oil futures are +1.3% at $91.60/barrel, Apr gold is +0.1% at $1577.10/oz and May silver is +0.3% at $28.90/oz.DJ30 +48.56 NASDAQ +4.25 SP500 +3.21 NASDAQ Adv/Vol/Dec 1248/378.3 mln/1023 NYSE Adv/Vol/Dec 1665/156 mln/1105

10:00 am : The major averages continue to register modest gains. The Dow is the top performing index, pushing to fresh all-time highs.

Looking at the early sector performance, financials and materials are outperforming after the two cyclical sectors paced yesterday's gains.

On the downside, energy, health care, telecoms, and utilities are trailing behind the broader market.

In individual movers, Ciena (CIEN 17.07, +2.13) is surging 14.5% after beating on earnings. The upbeat report has lifted other networking companies as JDS Uniphase (JDSU 15.02, +0.87) and F5 Networks (FFIV 95.10, +1.99) trade with respective gains of 6.2% and 2.2%.DJ30 +41.17 NASDAQ +4.35 SP500 +2.14 NASDAQ Adv/Vol/Dec 1202/222.2 mln/983 NYSE Adv/Vol/Dec 1587/113.2 mln/1126

09:45 am : The major averages opened the session on a positive note. However, the S&P 500 and Nasdaq have slipped off their early highs. Meanwhile, the Dow is adding 0.3% as the blue chip average continues to trade near its best level of the morning.

Prior to the open, investors received a handful of economic data points. Weekly initial claims were reported at 340,000 while the Briefing.com consensus had expected a reading of 350,000. The report was encouraging as this was the second week which saw claims remain below the 350,000-400,000 range observed for much of last year.

Productivity was revised slightly higher to show a 1.9% decline versus a 2.0% decline that was previously reported. Unit labor costs were revised up to show a 4.6% increase versus the prior reading showing a 4.5% increase.

January trade deficit widened to $44.4 billion from $38.1 billion in December. Today's reading fell short of the $43.0 billion deficit expected by the Briefing.com consensus and the January report is apt to be a negative factor in many economists' models for first quarter GDP growth forecast.

The day's economic data will be topped off with the 15:00 ET release of the January consumer credit report.DJ30 +37.61 NASDAQ +3.15 SP500 +2.24 NASDAQ Adv/Vol/Dec 1107/139.8 mln/992 NYSE Adv/Vol/Dec 1535/87.1 mln/1118

09:14 am : [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +2.00. Heading into the open, equity futures are signaling a higher start to the session. The S&P 500 futures are adding 0.2% following the release of several economic data points.

Weekly initial claims were reported at 340,000 while the Briefing.com consensus had expected a reading of 350,000. The report was encouraging as claims remained below the 350,000-400,000 range observed for much of last year.

Regarding the trade balance, January deficit widened to $44.4 billion from $38.1 billion in December. The Briefing.com consensus expected the deficit to be $43.0 billion and today's reading is apt to be a negative factor in many economists' models for first quarter GDP growth forecast.

Productivity was revised slightly higher to show a 1.9% decline versus a 2.0% decline that was previously reported. Unit labor costs were revised up to show a 4.6% increase versus the prior reading showing a 4.5% increase.

Among notable pre-market movers, Ciena (CIEN 17.19, +2.25) is surging 15.1% after the company handily beat the Capital IQ earnings estimate. Peer JDS Uniphase (JDSU 14.99, +0.84) is higher by 5.9% in sympathy.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +5.50.

U.S. equity futures continue to trade near their pre-market highs with the S&P 500 futures firmer by 0.3%.

The major Asian bourses saw a mixed session with Japan's Nikkei (+0.3%) closing at its best level since September 2008. In an expected move, the Bank of Japan held its key rate steady at less than 0.1% while keeping its asset purchase program unchanged as the central bank awaits its change at the top. Data from the region saw Australia's trade deficit miss expectations and widen to AUD1.06 billion (AUD0.51 billion expected, AUD0.69 billion previous). Elsewhere, Taiwan's trade surplus widened to $0.92 billion ($1.92 billion expected, $0.47 billion previous), but fell short of estimates.

In Japan, the Nikkei added 0.3% as trade briefly probed the psychologically important 12,000 mark. Exporters were strong as the yen pressured its 33-month low against the greenback. Mazda Motor was a top performer, jumping 4.4% and elsewhere, Sharp plunged 7.9%, giving up a large portion of the previous day's gains.
Hong Kong's Hang Seng finished unchanged amid a choppy session. MGM China was a laggard, sliding 3.4%, after a shareholder dumped 25.4 million shares.
In China, the Shanghai Composite settled lower by 1.0% as financials were hit hard. Insurer Ping An sank 2.1% and Industrial & Commercial Bank of China gave up 1.0%.

European indices are registering modest gains following policy meetings by two central banks. The Bank of England left its key interest rate and asset purchase program unchanged at their respective 0.50% and GBP375 billion, as expected. Meanwhile, the European Central Bank also left its key interest rate unchanged at 0.75%.

Looking at the day's economic releases, French unemployment rate was reported at 10.6% while the general consensus had expected a reading of 10.1%. Additionally, the country's trade deficit was reported at a worse-than-expected EUR5.9 billion. Elsewhere, Italian PPI slipped 0.4% month-over-month while the year-over-year reading indicated a rise of 0.7%. Both figures were cooler than expected. German factory orders declined 1.9% month-over-month while the consensus expected a rise of 0.5%.

In news, the head of communications at Italy's embattled Banca Monte dei Paschi di Siena, David Rossi, has committed suicide. This comes after Italian prosecutors opened an investigation into alleged wrongdoings at the bank. Also of note, a court in Milan has sentenced Silvio Berlusconi to a year in prison following the publication of illegal wiretaps in a newspaper owned by Mr. Berlusconi's brother.

The United Kingdom's FTSE is adding 0.2%. Producer of electrical equipment Aggreko is surging 13.7% after the company reported strong quarterly results and issued upbeat guidance.
In Germany, the DAX is rising 0.3% with Adidas in the lead. The apparel manufacturer reported disappointing fourth quarter results but upbeat guidance and a dividend hike are helping the stock trade higher by 4.7%.
France's CAC is firmer by 0.5% with consumer names outperforming. Carrefour and Danone are seeing respective gains of 4.5% and 1.8%.

08:35 am : [BRIEFING.COM] S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: +1.70. Equity futures are trading modestly higher following the release of several economic data points. The S&P 500 futures are up 0.2%.

The latest weekly initial jobless claims count totaled 340,000, which was lower than the 350,000 that had been expected by the Briefing.com consensus. The tally was below the revised prior week count of 347,000. As for continuing claims, they rose to 3.094 million from 3.091 million.

The trade deficit widened to $44.4 billion during January after a downwardly revised prior month deficit of $38.1 billion. Economists polled by Briefing.com had expected that the deficit would come in at $43.0 billion.

Productivity data for the fourth quarter showed a decrease of 1.9%, which was better than the 2.0% decrease that had been reported in the preliminary reading. However, it was worse than the 1.6% decrease that had been expected by the Briefing.com consensus. Unit labor costs for the fourth quarter were revised higher to reflect a 4.6% increase after they had reportedly increased 4.5% in the preliminary reading. Economists polled by Briefing.com had expected that unit labor costs would tick down in the revised reading to reflect an increase of 4.2%.

08:07 am : [BRIEFING.COM] S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: +0.20.

U.S. equity futures are registering slim gains amid generally positive European trade. The S&P 500 futures are adding 0.1%.

Looking at overseas developments:

Asian markets ended on a mixed note. China's Shanghai Composite lost 1.0%, Hong Kong's Hang Seng ended flat while Japan's Nikkei added 0.3%.
In regional economic news:
The Bank of Japan left its key interest rate and asset purchase program unchanged at their respective 0.00-0.10% and JPY101 trillion, in-line with expectations.
Australia's trade deficit was reported at AUD1.06 billion, worse than the deficit of AUD500 million that had been expected by the consensus. Meanwhile, the country's AIG Construction Index came in at 45.6 to follow the prior month's 36.2.
Looking at news:
Although the Bank of Japan did not make any changes to its monetary policy, the central bank raised its assessment of the Japanese economy. This marks the third consecutive policy meeting which has produced an improvement in the economic outlook.

European indices are registering modest midsession gains. Germany's DAX is adding 0.2%, the United Kingdom's FTSE is higher by 0.3%, and France's CAC is rising 0.4%. Elsewhere, Italy's MIB is firmer by 0.2% and Spain's IBEX trades higher by 0.5%.
Several economic data points were released across the region:
The Bank of England left its key interest rate and asset purchase program unchanged at their respective 0.50% and GBP375 billion, as expected.
The European Central Bank also left its key interest rate unchanged at 0.75%
French unemployment rate was reported at 10.6% while the general consensus had expected a reading of 10.1%. Meanwhile, the country's trade deficit was reported at a worse-than-expected EUR5.9 billion.
Italian PPI slipped 0.4% month-over-month while the year-over-year reading indicated a rise of 0.7%. Both figures were cooler than expected.
German factory orders declined 1.9% month-over-month while the consensus expected a rise of 0.5%.
In news:
The head of communications at Italy's embattled Banca Monte dei Paschi di Siena, David Rossi, has committed suicide. This comes after Italian prosecutors opened an investigation into alleged wrongdoings at the bank.
A court in Milan has sentenced Silvio Berlusconi to a year in prison following the publication of illegal wiretaps in a newspaper owned by Mr. Berlusconi's brother.

In U.S. corporate news:

Ciena (CIEN 16.60, +1.66) is higher by 11.1% after beating on earnings and reporting revenue in-line with the Capital IQ consensus.
PetSmart (PETM 61.81, -4.74) is down 7.1% after the company beat on earnings and reported revenue slightly below analyst expectations.

The Challenger Job Cuts report indicated a year-over-year rise of 7.0% to follow the prior reading of -24.4%.

Weekly initial claims, continuing claims, January trade balance, fourth quarter productivity and unit labor costs will all be reported at 8:30 ET. Lastly, January consumer credit will be released at 15:00 ET.

06:49 am : [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +3.50.

06:49 am : Nikkei...11968.08...+35.80...+0.30%. Hang Seng...22771.44...-6.40...0.00.

06:49 am : FTSE...6454.67...+27.30...+0.40%. DAX...7936.89...+17.70...+0.20%.

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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