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 Post subject: March 12th Tuesday Trade Results - Loss ($960)
PostPosted: Tue Mar 12, 2013 10:45 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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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 @ ($960.00) dollars or -9.60 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 Loss @ ($960.00) 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=1458

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 Hits New Record In 8-Day Winning Streak

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

NEW YORK (CNNMoney)
U.S. stocks ended mixed Tuesday, but the Dow still managed to finish at a record high for the sixth straight day.

The Dow Jones industrial average has now climbed for eight straight sessions, its longest winning streak since February 2011. The blue chip index finished the day up 3 points, at a record high of 14,405.06. Earlier in the day, the Dow reached a fresh intraday record above 14,470.

The S&P 500 slid 0.2% on Tuesday and is now within 1% of its all-time closing high set in 2007. The Nasdaq fell 0.3%.

Stocks have been supported by better-than-expected economic data and signs the Federal Reserve will keep its stimulus policies in place for some time.

But with all three major U.S. indexes up between 7% and 10% so far this year, analysts say a pullback at this stage shouldn't come as much of a surprise and should be considered healthy.

Related: The other Dow record: Dividends

Meanwhile, in the continuing saga of Washington's budget wars, House Budget Committee Chairman Paul Ryan released his budget proposal Tuesday.

Costco (COST, Fortune 500) shares rose after the bulk retailer announced better-than-expected earnings for its fiscal second quarter, although its revenue increase came in short of forecasts.

Yum Brands (YUM, Fortune 500) shares rose after the company -- which owns Taco Bell, KFC and Pizza Hut brands -- reported a smaller-than-expected drop in same-store sales at its China locations.

Shares of Cabela (CAB) spiked after the sporting goods retailer issued strong earnings guidance.

Best Buy (BBY, Fortune 500) shares were also higher after Goldman Sachs resumed coverage of the stock with a buy recommendation.

Urban Outfitters (URBN) shares gained even after the company reported earnings just short of analysts' forecasts for the third time in the last five quarters.

Apple (AAPL, Fortune 500) shares edged lower after a late-day spike Monday. Worries about slowing demand for the iPhone 5 and what Apple plans to do with all its cash has been pressuring the stock. On Tuesday, Jefferies analyst Peter Misek lowered his price target to $420 from $500

Related: Fear & Greed Index in extreme greed

European markets ended mixed, and Asian markets ended lower. Chinese stocks fell by about 1% while Japan's Nikkei ended down 0.3%.

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

Oil and gold prices gained almost 1%.

The price on the 10-year Treasury rose, pushing the yield down to 2.02% from 2.06% late Monday.

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4:20 pm : The major averages finished today's session on a mixed note. The Dow registered a slightly higher close while the S&P 500 and Nasdaq ended in the red. With today's lower close, the S&P 500 has snapped its streak of seven consecutive winning sessions.

After starting the day on a lower note, the key indices attempted to reclaim their losses. However, selling pressure manifested itself shortly thereafter, and drove equities to session lows.

The morning weakness occurred as sellers targeted cyclical stocks. Financials, industrials, and technology led the decline with financials ending as the weakest group.

The financial sector underperformed amid weakness in major bank names. Morgan Stanley (MS 22.67, -0.43) lost 1.9% while the broader SPDR Financial Select Sector ETF (XLF 18.28, -0.10) slipped 0.5%. Notably, the sector led the morning decline after being one of the top performers year-to-date.

The Dow Jones Transportation Average has also acted as one of the leaders of this year's market rally. Since the start of 2013, the bellwether complex has added more than 15.0%. However, the space trailed behind the broader market today, and settled lower by 0.3%.

Transportation-related stocks also weighed on the industrial sector, which ended as one of the weakest performers. The SPDR Industrial Select Sector ETF (XLI 41.72, -0.24) shed 0.6%.

Elsewhere, the technology sector was pressured by some of its largest components. Apple (AAPL 428.43, -9.44), Google (GOOG 827.61, -7.21), and Oracle (ORCL 35.43, -0.45) all lost between 0.9% and 2.2%.

While large cap tech names lagged, there were some areas of strength. Chipmakers fared relatively well and the PHLX Semiconductor Index rose 0.4%.

With the fourth quarter earnings season drawing to a close, only several notable names have yet to report their results. This morning, Costco (COST 103.75, +1.31) beat on earnings and reported revenue in-line with its March 7 pre-announcement. The relative strength of the retailer contributed to the outperformance of the consumer staples sector.

The defensive trade appeared to be favored today as health care and telecoms finished among the day's leaders. In the health care space, Merck (MRK 45.04, +1.38) added 3.2% after a regulatory body voiced its support for Merck to continue one of its clinical trials.

With equities spending the day in the red, the 10-yr note saw steady buying interest in overnight trade with the bid spilling over into the day session. As a result, 10-yr yield slipped four basis points to 2.02%.

After ending yesterday at its lowest level since early 2007, the CBOE Volatility Index (VIX 12.28, +0.72) jumped over 6.0%.

Trading volume was below average as 622 million shares changed hands on the floor of the New York Stock Exchange.

Looking at tomorrow's economic data, the weekly MBA Mortgage Index will be reported at 7:00 ET. February retail sales, retail sales ex-auto, export prices ex-agriculture, and import prices ex-oil will all be announced at 8:30 ET. Finally, January business inventories will be reported at 10:00 ET and the U.S. Treasury will report its February budget at 14:00 ET.

The U.S. Treasury will also reopen $21 billion in 10-yr notes.DJ30 +2.77 NASDAQ -10.55 SP500 -3.74 NASDAQ Adv/Vol/Dec 1011/1.60 bln/1444 NYSE Adv/Vol/Dec 1244/622.4 mln/1777

3:35 pm : Commodities mostly ended today's session higher with precious metals, copper, natural gas and crude oil ending the day in positive territory. Commodities including heating oil, RBOB gasoline, soybeans and ethanol finished the day in the red.

Apr crude oil rose as high as $93.43/barrel, which was hit one hour after pit trading began, and ended the day up $0.63 at $92.51/barrel. Apr natural gas futures only rose $0.01 to $3.64/Mopped.

Precious metals consolidated in afternoon trade and finished near session highs. Apr gold rose $16.80 to $1591.90/oz and May silver gained $0.20 to $29.17/oz. Mar copper rose $0.05 to $3.55/lb.DJ30 +5.32 NASDAQ -8.98 SP500 -2.98 NASDAQ Adv/Vol/Dec 1031/1405.89 /1404 NYSE Adv/Vol/Dec 1242/424 mln/1761

3:00 pm : Heading into the final hour of trade, the major averages continue to hover near their session lows. The Nasdaq is the weakest performing index as major sector components weigh on the tech-heavy group. Apple (AAPL 429.90, -7.98) and Google (GOOG 824.88, -9.94) are down 1.8% and 1.2% respectively.

Meanwhile, the Dow is shedding just 0.1%. The blue chip average is outperforming the broader market thanks in part to the relative strength in Merck (MRK 45.05, +1.39). The drug maker trades higher by 3.2% after a regulatory body spoke in favor of Merck continuing one of its clinical trials.DJ30 -11.42 NASDAQ -16.03 SP500 -5.43 NASDAQ Adv/Vol/Dec 948/1.21 bln/1475 NYSE Adv/Vol/Dec 1126/362.9 mln/1863

2:30 pm : The S&P 500 trades lower by 0.5% after slipping to fresh lows. Notably, the recent weakness occurred as all 10 S&P 500 sectors saw corresponding downticks.

Financials, industrials, and technology have underperformed for the duration of the session. In addition, the Dow Jones Transportation Average also trails behind the broader market. The bellwether complex is shedding 0.6% amid group-wide weakness.

With today's weakness in the equity markets, treasuries have garnered some buying interest. The 10-yr note has seen a steady bid throughout the day with its yield dropping four basis points to 2.02%.DJ30 -27.18 NASDAQ -19.81 SP500 -7.16 NASDAQ Adv/Vol/Dec 913/1.14 bln/1500 NYSE Adv/Vol/Dec 1074/338.3 mln/1901

2:05 pm : The S&P 500 is off by 0.4% after slipping back near its session lows.

The U.S. Treasury Budget, which was scheduled to be released at this time, has been pushed back until tomorrow at 14:00 ET.DJ30 -20.75 NASDAQ -17.05 SP500 -6.18 NASDAQ Adv/Vol/Dec 943/1.06 bln/1468 NYSE Adv/Vol/Dec 1099/314.8 mln/1857

1:30 pm : The S&P 500 continues to hover near its early afternoon levels. Recent trade has been quiet on most fronts after earlier selling put pressure on cyclical sectors.

Financials, industrials, and technology endured the bulk of the selling, and those three sectors remain near their lows. The industrial space is the biggest laggard with the SPDR Industrial Select Sector ETF (XLI 41.65, -0.31) down 0.8%.

As a result of today's cautious trade, the CBOE Volatility Index (VIX 12.44, +0.88) is spiking over 7.5% after ending yesterday's session at its lowest level since early 2007.DJ30 -9.50 NASDAQ -13.36 SP500 -4.60 NASDAQ Adv/Vol/Dec 957/968.5 mln/1434 NYSE Adv/Vol/Dec 1116/284.5 mln/1821

1:00 pm : After starting the day on a slightly lower note, the major averages attempted to mimic yesterday's price action by following the cautious start with a steady climb off their lows. However, selling pressure increased shortly after the S&P 500 turned positive, and drove the index to fresh session lows.

The late morning weakness occurred as stocks in cyclical sectors faced the most notable selling.

Banks have been some of the top performers this year. Having gained more than 11.0% in 2013, the growth-oriented financial sector has only been outperformed by health care.

However, as late-morning weakness set in, financials slipped to fresh lows. Bank of America (BAC 12.02, -0.13) and Goldman Sachs (GS 151.41, -1.89) are both down near 1.2% while the broader SPDR Financial Select Sector ETF (XLF 18.28, -0.10) is off by 0.5%.

The technology sector also saw steady selling. As a result, the tech-heavy Nasdaq trails behind the broader market. Major sector components are contributing to the weakness with Apple (AAPL 431.58, -6.29) and Google (GOOG 826.10, -8.72) down 1.4% and 1.0% respectively.

The market received only a handful of quarterly reports today. One notable name, Costco (COST 104.75, +2.31), is rising 2.3% after the retailer beat on earnings and reported revenue in-line with its March 7 pre-announcement. The relative strength of Costco is contributing to the outperformance of the defensively-minded consumer staples sector.

While staple stocks trade ahead of the broader market, another defensive sector, health care, is registering the day's biggest gains. Merck (MRK 45.06, +1.40) is seeing a considerable bid after the Data Safety Monitoring Board recommended the company continue one of its clinical trials.

In the treasury market, the 10-yr note has seen steady buying with its yield slipping four basis points to 2.02%.

The U.S. Treasury will report its February budget at 14:00 ET.DJ30 -0.74 NASDAQ -12.76 SP500 -3.53 NASDAQ Adv/Vol/Dec 955/902.2 mln/1430 NYSE Adv/Vol/Dec 1154/264.1 mln/1775

12:30 pm : The major averages saw little change in recent trade. After climbing off its earlier lows, the S&P 500 continues to hover near the bottom of its range, down 0.4%.

While the broader market did not move much in the past 30 minutes, a defensive bid sent health care and telecoms to fresh session highs. In addition, consumer staples returned to their best levels of the day.

Although defensive sectors saw some buying interest in recent trade, today's leadership remains mixed. At this time, energy, health care, telecoms, and materials are all registering modest gains.DJ30 -19.23 NASDAQ -18.52 SP500 -5.51 NASDAQ Adv/Vol/Dec 880/823.9 mln/1498 NYSE Adv/Vol/Dec 1083/243.7 mln/1843

12:00 pm : The major averages have risen off their lows, but the S&P 500 remains off by 0.3%. The recent weakness took place as most sectors notched fresh session lows. Health care and telecom were the only two sectors able to buck the trend. Health care sector surrendered a portion of its gains while the defensively-oriented telecoms climbed to fresh highs.

Also of note, the CBOE Volatility Index (VIX 12.47, +0.91) is rising 7.9% after the near-term volatility measure ended yesterday's session at its lowest level since early 2007.DJ30 +2.46 NASDAQ -15.05 SP500 -3.33 NASDAQ Adv/Vol/Dec 941/732.3 mln/1414 NYSE Adv/Vol/Dec 1150/217.9 mln/1761

11:30 am : The S&P 500 is off by 0.3% after recent trade saw the benchmark index slip to fresh lows. The financial sector-which paced the bulk of this year's gains-saw notable selling to coincide with the broad market weakness. Citigroup (C 46.51, -1.09) and Morgan Stanley (MS 22.65, -0.45) are the two weakest performers among the majors while the broader SPDR Financial Select Sector ETF (XLF 18.26, -0.12) is off by 0.6%.

In addition to financials, cyclical industrials and technology stocks also slid to new lows of their own. Meanwhile, in the treasury market, the 10-yr note saw continued buying with its yield slipping to 2.01%.DJ30 -11.91 NASDAQ -19.65 SP500 -5.69 NASDAQ Adv/Vol/Dec 889/621.9 mln/1429 NYSE Adv/Vol/Dec 1037/187.1 mln/1854

11:00 am : The major averages continue to trade in mixed fashion. The Dow is registering modest gains while the S&P 500 and Nasdaq trade near their lows.

The 30-stock Dow Jones Industrial Average is outperforming as Merck (MRK 45.06, +1.40) trades higher by 3.2%. The drug maker is rising after the Data Safety Monitoring Board recommended the company continue one of its clinical trials.

Meanwhile, the S&P 500 and Nasdaq are registering losses as technology shares weigh. Large cap sector components are underperforming with Apple (AAPL 432.10, -5.77) and Google (GOOG 826.07, -8.75) down 1.3% and 1.1% respectively. Meanwhile, chipmakers are outperforming the broader market as the PHLX Semiconductor Index trades higher by 0.3%.DJ30 +11.91 NASDAQ -9.54 SP500 -1.74 NASDAQ Adv/Vol/Dec 1048/507.1 mln/1239 NYSE Adv/Vol/Dec 1271/156.1 mln/1573

10:35 am : Commodities are mostly higher this morning, partially driven by weakness in the dollar index. Precious metals popped higher earlier this morning around 7am EST and have since extended gains. Apr gold is currently +1.2% at $1596.30/oz, while May silver is +1.5% at $29.30/oz.

Copper futures have been strong all session, rising as high as $3.58/lb. In recent activity, May copper is +1.5% at $3.57/lb.

The energy space is mixed this morning with crude oil surging higher and natural gas in the red. Crude oil has been climbing in a more orderly fashion this morning and rose as high as $93.47/barrel. In current trade, Apr crude oil is +1.4% at $93.36/barrel. Apr natural gas is now -0.2% at $3.64/MMBtu.DJ30 +18.55 NASDAQ -8.17 SP500 -0.88 NASDAQ Adv/Vol/Dec 1048/389.8 mln/1187 NYSE Adv/Vol/Dec 1356/129 mln/1434

10:00 am : The major averages are seeing mixed performance in early trade. The Dow has climbed into positive territory while the Nasdaq continues to climb off its early lows. Elsewhere, the S&P 500 is hovering near the bottom of its range.

Energy, health care, and materials are among the early leaders while financials, technology, and industrials trail behind the broader market.

Also of note, the 10-yr note has seen a steady overnight bid with the yield slipping three basis points to 2.03%.DJ30 +9.83 NASDAQ -3.81 SP500 -0.58 NASDAQ Adv/Vol/Dec 993/233.5 mln/1176 NYSE Adv/Vol/Dec 1246/87.2 mln/1493

09:45 am : The S&P 500 is off by 0.1% after the major averages began the session on a slightly lower note. The technology sector is the biggest laggard in early trade with the SPDR Technology Select Sector ETF (XLK 30.29, -0.07) off by 0.2%.

On the upside, health care stocks are registering modest gains. Merck (MRK 45.19, +1.53) is higher by 3.5% after the company issued a positive update from its clinical study.

In addition, the energy sector is outperforming as crude oil trades higher by 1.0%. The energy component currently hovers around $93.00 per barrel.DJ30 -6.37 NASDAQ -6.57 SP500 -1.63 NASDAQ Adv/Vol/Dec 893/146.2 mln/1220 NYSE Adv/Vol/Dec 1086/65.6 mln/1588

09:17 am : [BRIEFING.COM] S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: -8.00. Heading into the open, equity futures are signaling a lower start to the session. The S&P 500 futures are off by 0.1% with early indications suggesting the index will have to overcome early losses in order to continue its recent streak. Over the past 10 sessions, the S&P 500 closed with gains on nine occasions.

In notable early movers, Costco (COST 103.69, +1.25) is adding 1.2% after the wholesale retailer beat on earnings and reported revenue in-line with its March 7 pre-announcement.

Today's economic data will be limited to the February Treasury Budget with the report set to cross the wires at 14:00 ET.

The U.S. Treasury will auction off $32 billion in 3-yr notes.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -8.80. U.S. equity futures are registering modest losses with the S&P 500 futures off by 0.1%. The cautious pre-market sentiment comes after the S&P 500 saw gains in nine of the past 10 sessions. During that stretch, the benchmark index has climbed more than 4.5%. In addition, the S&P now needs less than 10 points to notch its highest close of all-time.

Looking at notable pre-market movers, Diamond Foods (DMND 16.44, -1.16) is down 6.6% after the company missed on earnings and revenue. In addition, guidance was a point of concern as well with the food producer expecting a sales slowdown during the upcoming two quarters.

Elsewhere, Costco (COST 103.90, +1.46) is adding 1.4% after the wholesale retailer beat on earnings and reported revenue in-line with its March 7 pre-announcement.

Today's economic data will be limited to the February Treasury Budget with the report set to cross the wires at 14:00 ET.

08:29 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -8.50.

U.S. equity futures continue to trade in the red with the S&P 500 futures off by 0.2%.

It was a sea of red across Asia as all of the major bourses, aside from Singapore's Strait Times (+0.3%), ended in negative territory. Losses were paced by China's Shanghai Composite (-1.0%), and came despite leaders coming out in defense of the recent data, commenting it was due to the Lunar New Year. Elsewhere, Japan's Nikkei gave up its early gains and finished on its lows despite newly appointed Bank of Japan head Haruhiko Kuroda suggesting an emergency meeting may be necessary to implement more easing. Meanwhile, other headlines said Japan's DPJ party will support both Kuroda as Governor and Hiroshi Nakaso for Deputy Governor, but not Deputy Governor nominee Kikuo Iwata. Data from the region saw Japan's BSI Manufacturing Index tick up to -4.6 (-10.3 previous) while its tertiary industry activity fell 1.1% month-over-month (-0.1% expected). Elsewhere, Australia's NAB Business Confidence slipped to 1 (3 previous) and India's industrial production jumped a weaker than expected 2.4% year-over-year (3.2% expected).

In Japan, the Nikkei slipped 0.3% as trade settled on the lows. Heavyweight Fast Retailing shed 2.3% while Nippon Steel climbed 4.4% on reports the company was looking to trim its excess capacity.
Hong Kong's Hang Seng finished lower by 0.9% as trade failed at the 50-day moving average for a third day. China Life Insurance gave up 3.2% after the Chairman suggested earlier comments that shed a positive light on the stock should not be taken as guidance. Elsewhere, property stocks saw gains after reports cement production increased more than 10% year-over-year for the first two months of 2013. China Resources Land tacked on 0.7%.
In China, the Shanghai Composite settled lower by 1.0% as shares fell for a fourth session in a row. Financials names lagged as Industrial Bank and China Everbright Securities shed 2.8% and 1.4% respectively.

Key European indices are little changed following the release of several economic data points. Germany's CPI rose 0.6% month-over-month, as expected. Meanwhile, the year-over-year reading climbed 1.5%, also in-line with expectations. Lastly, the country's WPI rose 0.1%, in-line with expectations. French current account deficit widened to EUR5.00 billion from the previous reading of EUR3.80 billion. Italian CPI rose 0.1% month-over-month, as expected. Meanwhile, on a year-over-year basis, CPI increased 1.9%, in-line with expectations. The United Kingdom's industrial production declined 1.2% month-over-month against the expectation of an uptick of 0.1%. On a year-over-year basis, industrial production declined 2.9%, worse than the expected decline of 1.1%. Also of note, manufacturing production fell 1.5% month-over-month (+0.1% expected) while the trade deficit was reported at a better-than-expected GBP8.2 billion (GBP9.00 billion forecast). Greek January industrial production fell 4.8% year-over-year.

With Italy's political leadership still unresolved, today's short-term debt auction resulted in 1-yr yields of 1.28%, up from the previous 1.09%. Germany's Minister of Economics Philipp Roesler said he believes the German economy is on track for a spring recovery with an expected rise in exports.

In Germany, the DAX is off by 0.1% with exporters underperforming. Daimler is off by 0.5% and Volkswagen is down 1.6%. On the upside, Commerzbank is adding 2.5%.
France's CAC is shedding 0.1% with industrials lagging. Defense contractor Safran is down 1.4% and Lafarge is off by 0.4%.
In the United Kingdom, the FTSE is little changed. Consumer stocks are underperforming with Aggreko and Serco Group down 1.3% and 1.0% respectively. Miner Antofagasta is spiking 5.0% after the company doubled its annual dividend.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: -2.80. Nasdaq futures vs fair value: -9.00.

U.S. equity futures are modestly lower amid quiet European trade. The S&P 500 futures are off by 0.2% as some signs of exhaustion may be setting in. Entering today, the S&P 500 has registered a gain in nine of the past ten sessions. Since February 26, the benchmark average has added over 4.5%.

Looking at overseas developments:

Asian markets settled on a lower note. Japan's Nikkei shed 0.3%, Hong Kong's Hang Seng slipped 0.9%, and China's Shanghai Composite lost 1.0%.
Regional economic data was limited:
Japan's tertiary industry activity index slipped 1.1% month-over-month while a downtick of 0.1% was expected. Meanwhile, the BSI large manufacturing conditions index came in at -4.6, better than the -6.2 expected by the consensus. Lastly, the country's household confidence rose to 44.3 (43.0 forecast).
In news:
The Bank of Japan released the minutes from its latest meeting. The minutes revealed discussion of additional easing steps by the central bank as well as a possibility of an immediate launch of an open-ended purchase program.

Key European indices are little changed. Germany's DAX and the United Kingdom's FTSE are both flat while France's CAC is adding 0.1%.
Looking at economic data:
Germany's CPI rose 0.6% month-over-month, as expected. Meanwhile, the year-over-year reading climbed 1.5%, also in-line with expectations. Lastly, the country's WPI rose 0.1%, in-line with expectations.
French current account deficit widened to EUR5.00 billion from the previous reading of EUR3.80 billion.
Italian CPI rose 0.1% month-over-month, as expected. Meanwhile, on a year-over-year basis, CPI increased 1.9%, in-line with expectations.
The United Kingdom's industrial production declined 1.2% month-over-month against the expectation of an uptick of 0.1%. On a year-over-year basis, industrial production declined 2.9%, worse than the expected decline of 1.1%. Also of note, manufacturing production fell 1.5% month-over-month (+0.1% expected) while the trade deficit was reported at a better-than-expected GBP8.2 billion (GBP9.00 billion forecast).
Greek January industrial production fell 4.8% year-over-year.
In news:
With Italy's political leadership still unresolved, today's short-term debt auction resulted in 1-yr yields of 1.28%, up from the previous 1.09%.
Germany's Minister of Economics Philipp Roesler said he believes the German economy is on track for a spring recovery with an expected rise in exports.

In U.S. corporate news:

Costco (COST 103.60, +1.16) is adding 1.1% after the wholesale retailer beat on earnings and reported revenue in-line with its March 7 pre-announcement.
Yum! Brands (YUM 72.11, +4.27) is jumping 6.3% after the company's February same-store sales report reflected a notable improvement in the Chinese market.

Today's economic data will be limited to the February Treasury Budget with the report set to cross the wires at 14:00 ET.

The U.S. Treasury will auction off $32 billion in 3-yr notes.

07:00 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -6.50.

07:00 am : Nikkei...12314.81...-34.20...-0.10%. Hang Seng...22890.60...-200.20...-0.90%.

07:00 am : FTSE...6506.80...+3.20...+0.10%. DAX...7979.69...-4.60...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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