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 Post subject: March 13th Wednesday Trade Results - Profit $2430
PostPosted: Wed Mar 13, 2013 8:56 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 @ ($1970.00) dollars or -19.70 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $4400.00 dollars or +4.40 points. Total Profit @ $2430.00 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=1459

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 All-Time High. Again.

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

NEW YORK (CNNMoney)
The Dow inched higher, adding five points, to close at an all-time high for the seventh straight day. Wednesday marked the ninth straight day of gains for the index.

It's the longest winning streak for the Dow since 1996.

The S&P 500 and Nasdaq closed up roughly 0.1%. The S&P 500 is less than 1% away from its all-time high, reached in October 2007.

Economic numbers out of Europe had dampened sentiment before the market opened. But investors seemed encouraged by a better-than-expected report on retail sales in the United States.

Doug DiPietro, head of trading at Evercore, said investors have been wary of placing big bets at these levels. But they are also worried about selling stocks too early. Tepid investors have kept volumes low this week, he said.

This year, stocks have been driven higher by signs that the economy is becoming healthier. The Federal Reserve's stimulative moves have also kept investors piling into stocks.

Related: Dow has best streak since 'irrational exuberance'

Early Wednesday, the Commerce Department reported February retail sales rose 1.1%, the best month since September.

Sales were expected to rise only 0.5%, as economists worried that increased payroll tax, delayed tax refunds and higher gas prices would cause consumers to pull back on spending.

At the same time, industrial production in Europe fell faster than expected in January. In the U.K., industrial production dropped 1.2%, leading to increasing chatter of a triple dip recession there.

European markets closed lower.

Related: Fidelity and BlackRock join forces in ETF fee war

Smart grid company Silver Spring Networks (SSNI) rallied 29% above its IPO price in its stock market debut. Silver Spring raised $63 million.

Apple (AAPL, Fortune 500) shares closed up slightly, after a recent slide. Investors have been worried about slowing demand for the iPhone 5 and what Apple plans to do with its cash. The newest Galaxy phone from Apple rival Samsung is also set to be unveiled Thursday, adding to concerns about competition.

Shares of Blackberry (BBRY) soared, after the company announced that it received 1 million orders for its Blackberry 10 device from an unnamed partner. Blackberry called it the largest single order ever.

Shares of Boeing (BA, Fortune 500) closed up nearly 1%. The Federal Aviation Administration gave the aircraft maker permission late Tuesday to start testing its proposed fix to the lithium batteries on the 787 Dreamliner, a key step in getting the aircraft that has been grounded by a safety probe since Jan. 16 back into service.

Shares of Dole (DOLE, Fortune 500) dropped 9% after the fruit company reported a wider-than-expected fourth quarter loss.

Netflix's (NFLX) stock rose 6% after the online movie rental company said it would allow users to share movie and television picks on Facebook (FB). But Facebook's stock fell more than 2%.

Related: Fear & Greed Index edging toward greed

Asian markets ended lower, with Japan's Nikkei shedding 0.6% as the yen firmed against the dollar on divisions in parliament over the appointment of the new Bank of Japan governor. The Shanghai Composite and Hong Kong's Hang Seng fell on reports of further measures to curb inflation, in particular in the property sector.

The dollar lost ground to the British pound but gained against the euro.

Oil and gold prices dropped.

The price on the 10-year Treasury fell, pushing the yield up to 2.03% from 2.02% late Tuesday.

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4:15 pm : Equities ended the day with slim gains and the S&P 500 settled higher by 0.1%.

Like the previous two sessions, today's action got off to a lower start before bargain hunters stepped in and helped the major averages climb to fresh highs.

After turning positive in early afternoon trade, equities stumbled briefly before ending near their highs.

As the broader market climbed off its early lows, industrials and discretionary stocks paced the rebound.

The industrial sector outperformed as transportation-related stocks saw broad strength. The Dow Jones Transportation Average climbed 1.6% with 19 of 20 components registering gains. Airlines and truckers were among the index leaders as Alaska Air (ALK 59.46, +2.43) and JB Hunt (JBHT 74.44, +3.94) settled with respective gains of 4.3% and 5.6%.

Including today's advance, the transportation average has added more than 17.0% since the start of the year.

In addition to transports, defense stocks also supported the industrial sector. The PHLX Defense Index gained 1.1%.

Elsewhere, discretionary shares garnered buying interest after the February retail sales report exceeded expectations. As a result, retailers received a day-long bid, and the SPDR S&P Retail ETF (XRT 70.19, +0.92) advanced 1.3%. Though most retail stocks benefitted from today's economic data, Express (EXPR 18.25, -0.60) did not partake in the rally. The apparel retailer slid 3.2% after its cautious first quarter and full-year earnings guidance provided some worry to investors.

While cyclical industrials and consumer stocks fueled the morning rebound, the defensively-oriented utilities also finished among the leaders. This suggests some indecision was present as the market struggled to find direction. The SPDR Utilities Select Sector ETF (XLU 38.13, +0.17) rose 0.5%.

On the downside, the materials sector ended with a slim loss as steelmakers weighed. The Market Vectors Steel ETF (SLX 44.81, -0.91) lost 2.0%.

Today's trading volume was well below average as 585 million shares changed hands on the floor of the New York Stock Exchange. Notably, today's tally was the second lowest total observed this year, taking the back seat only to the February 11 session.

Reviewing today's economic data, retail sales increased a solid 1.1% in February after rising an upwardly revised 0.2% (from 0.1%) in January. The Briefing.com consensus expected retail sales to increase 0.5%.

Notably, the report suggests the effect of the tax increases following the fiscal cliff deal has not stunted overall demand. The strong gains in wages that were detailed in the February employment report also played an important part in keeping consumption levels higher than expected. Those gains allowed consumers to spend more while also adding to their savings.

Export prices, excluding agriculture, increased by 0.6% in February after they had increased 0.5% during the prior month. Excluding oil, import prices were unchanged, which follows the 0.2% increase experienced in the prior month.

Total business inventories increased 1.0% in January after increasing an upwardly revised 0.3% (from 0.1%) in December. The Briefing.com consensus expected business inventories to increase 0.3%.

The February Treasury Budget showed a deficit of $203.50 billion, ahead of the deficit of $205 billion expected by the Briefing.com consensus.

In tomorrow's economic data, weekly initial and continuing claims, February PPI, core PPI, as well as the fourth quarter current account balance will all be reported at 8:30 ET.DJ30 +5.22 NASDAQ +2.80 SP500 +2.04 NASDAQ Adv/Vol/Dec 1384/1.52 bln/1046 NYSE Adv/Vol/Dec 1689/584.7 mln/1300

3:30 pm :

Apr crude oil advanced to a session high of $93.40 per barrel shortly after floor trade opened. However, prices retreated and fell into negative territory in afternoon action as a stronger dollar index and weaker than anticipated inventory data that showed a build of 2.624 mln barrels when a build of 2.3 mln barrels was anticipated put pressure on the energy component. Crude oil dipped to a session low of $91.91 per barrel and eventually settled with a 0.1% loss at $92.46 per barrel.
Apr nautral gas traded higher for its entire floor session. It touched a session high of $3.70 per MMBtu in afternoon floor trade and settled with a 1.1% gain at $3.68 per MMBtu.
Apr gold fell into negative territory despite trading as high as $1598.80 per ounce in early morning action. A stronger dollar index following upbeat retail sales data put pressure on the yellow metal. Gold dipped to a session low of $1584.40 per ounce and eventually settled with a 0.2% loss at $1588.00 per ounce.
May silver also slid into the red and brushed a session low of $28.83 per ounce. After chopping around slightly above that level for the remainder of pit trade, it settled with a 0.7% loss at $28.96 per ounce.

DJ30 +12.32 NASDAQ +2.87 SP500 +2.48 NASDAQ Adv/Vol/Dec 1353/1271.1 mln/1076 NYSE Adv/Vol/Dec 1625/390.7 mln/1333

3:00 pm : Today's action has been a relatively quiet affair reminiscent of the other two sessions of the week. A lower open enticed bargain hunters who pushed the major averages to fresh highs. Upbeat February retail data as well as the strength of transportation stocks have acted in support of the key indices. In addition, the financial sector has also done its part to contribute to the gains.

As the session enters its final hour of trade, it is worth pointing out that today's volume is pacing well below average levels observed this late in the day. At 350 million shares traded, New York Stock Exchange floor volume is on pace to finish as one of the least active sessions of the year.DJ30 +6.09 NASDAQ +4.25 SP500 +2.23 NASDAQ Adv/Vol/Dec 1379/1.11 bln/1032 NYSE Adv/Vol/Dec 1598/349.2 mln/1340

2:30 pm : The major averages continue to hover near their best levels of the day. The S&P 500 is higher by 0.2% which the benchmark index receiving noted support from consumer discretionary shares and industrials.

Growth-oriented discretionary stocks have shown strength from the start after February retail sales were reported well ahead of the Briefing.com consensus. Retail shares have received a continued bid with the SPDR S&P Retail ETF (XRT 70.17, +0.90) higher by 1.3%.

Meanwhile, the industrial sector is benefitting from the rise of the Dow Jones Transportation Average. The 20-stock index is adding 1.4% to bring its year-to-date gain to 17.2%.DJ30 +9.70 NASDAQ +6.44 SP500 +2.87 NASDAQ Adv/Vol/Dec 1381/1.02 bln/1026 NYSE Adv/Vol/Dec 1626/321.2 mln/1298

2:05 pm : The major averages continue to trade near their highs with the S&P 500 firmer by 0.2%.

The February Treasury Budget showed a deficit of $203.50 billion, which was better than the deficit of $205 billion expected by the Briefing.com consensus. The report has mattered little to market participants as equity indices did not respond to the news.DJ30 +16.29 NASDAQ +7.68 SP500 +3.31 NASDAQ Adv/Vol/Dec 1363/948.0 mln/1022 NYSE Adv/Vol/Dec 1630/294.3 mln/1283

1:30 pm : The major averages have shown little change in recent trade. The S&P 500 is higher by 0.2% as the benchmark index continues to hover near its best level of the day. After opening today's session on a lower note, stocks climbed steadily with industrials and discretionary shares in the lead.

The discretionary sector is benefitting from the outperformance of retailers. The growth-sensitive group is seeing broad strength after the February retail sales report beat expectations. The SPDR S&P Retail ETF (XRT 69.98, +0.71) trades higher by 1.0%.

Elsewhere, the industrial sector is benefiting from the strength of transportation related stocks. The Dow Jones Transportation Average is adding 1.3% as 19 of 20 index components trade with gains. Of the 20 transportation stocks, airlines are some of the top advancers. Alaska Air (ALK 59.74, +2.71) is firmer by 4.8%.

The February U.S. Treasury budget will be reported at 14:00 ET.DJ30 +8.21 NASDAQ +3.91 SP500 +2.36 NASDAQ Adv/Vol/Dec 1295/866.4 mln/1076 NYSE Adv/Vol/Dec 1576/267.8 mln/1299

1:00 pm : At midday, the major averages are registering slim gains. The S&P 500 is firmer by 0.2% after starting the day in negative territory.

Similar to the prior two sessions of the week, stocks opened today's affair on a lower note only to see the weakness dissipate in the early minutes. Financials, industrials, and discretionary shares have paced the rebound with industrials leading the way.

The industrial sector is outperforming amid strength in transportation-related stocks. Airlines and truckers are registering notable gains, which has pushed the Dow Jones Transportation Average to a fresh all-time high. JB Hunt (JBHT 73.01, +2.91) is the top group component and the 20-stock transportation average trades higher by 1.2%.

Bank stocks have also done their part to support the broader market. The SPDR Financial Select Sector ETF (XLF 18.34, +0.05) is adding 0.3% ahead of tomorrow's release of the second round of Federal Reserve's CCAR report, also known as the bank stress test.

Elsewhere, the consumer discretionary sector is also providing the market with some support. The space has outperformed since the open amid strength in retailers. The SPDR S&P Retail ETF (XRT 69.97, +0.70) is higher by 1.0% after February retail sales were reported well ahead of the Briefing.com consensus.

Retail sales increased a solid 1.1% in February after rising an upwardly revised 0.2% (from 0.1%) in January. The Briefing.com consensus expected retail sales to increase 0.5%. Notably, the report suggests the effect of the tax increases following the fiscal cliff deal has not stunted overall demand. The strong gains in wages that were detailed in the February employment report also played an important part in keeping consumption levels higher than expected. Those gains allowed consumers to spend more while also adding to their savings.

Export prices, excluding agriculture, increased by 0.6% in February after they had increased 0.5% during the prior month. Excluding oil, import prices were unchanged, which follows the 0.2% increase experienced in the prior month.

Total business inventories increased 1.0% in January after increasing an upwardly revised 0.3% (from 0.1%) in December. The Briefing.com consensus expected business inventories to increase 0.3%.

The U.S. Treasury will report its February Budget at 14:00 ET.DJ30 +14.28 NASDAQ +4.42 SP500 +2.41 NASDAQ Adv/Vol/Dec 1325/798.4 mln/1041 NYSE Adv/Vol/Dec 1597/247.5 mln/1295

12:30 pm : Recent trade saw the S&P 500 climb into positive territory. The benchmark index is now adding 0.1% with financials and industrials pacing the advance.

The financial sector traded lower at the open, but has since picked up some steam. As a result of the recent strength, the sector is one of the day's top performers. The SPDR Financial Select Sector ETF (XLF 18.32, +0.04) is adding 0.3%.

Also of note, the industrial sector is receiving support from transportation stocks. The Dow Jones Transportation Average is adding 1.2% amid broad strength within the group.DJ30 +9.85 NASDAQ +2.13 SP500 +1.62 NASDAQ Adv/Vol/Dec 1272/725.1 mln/1074 NYSE Adv/Vol/Dec 1547/227.5 mln/1317

12:00 pm : The major averages continue to trade within points of their respective unchanged levels. In some ways, today's session is playing out similarly to the first two trading days of the week. Equities started the day in the red, but bargain hunters were quick to buy the early weakness. However, the major averages have yet to break above yesterday's closing levels.

Today's upbeat economic data did its part to act as support. February retail sales saw a rise of 1.1% while January business inventories climbed 1.0%.

The positive retail sales data is contributing to the outperformance of retailers, which in turn bolsters the consumer discretionary sector. The SPDR S&P Retail ETF (XRT 69.83, +0.56) is rising 0.8%.DJ30 -13.81 NASDAQ -5.10 SP500 -1.19 NASDAQ Adv/Vol/Dec 1150/638.8 mln/1168 NYSE Adv/Vol/Dec 1362/203.3 mln/1473

11:30 am : Equities have shown little change in recent trade. The S&P 500 remains flat after erasing its opening weakness. The steady climb off lows has been driven by industrials, utilities, and discretionary stocks.

The discretionary sector is one of the day's top performers after February retail sales were reported well ahead of the Briefing.com consensus. As such, retailers are outperforming and the SPDR S&P Retail ETF (XRT 69.85, +0.58) is rising 0.8%.

Meanwhile, the industrial space is benefitting from the relative strength of transportation-related stocks. The Dow Jones Transportation Average is adding 0.9%, and today's gain puts the bellwether complex at a fresh all-time high.

Lastly, utilities have seen steady buying interest and the SPDR Utilities Select Sector ETF (XLU 38.10, +0.13) trades higher by 0.3%.DJ30 -14.75 NASDAQ -2.21 SP500 -0.51 NASDAQ Adv/Vol/Dec 1165/560.1 mln/1140 NYSE Adv/Vol/Dec 1414/182.4 mln/1418

11:00 am : After spending the first 90 minutes of trade in the red, the major averages have erased the bulk of their early losses. Currently, the S&P 500 trades flat.

The early weakness was brought on as energy, health care, and materials weighed on the broader market. However, the upbeat economic data received by the market has acted in support. January business inventories rose 1.0% while February retail sales climbed 1.1%, ahead of the Briefing.com consensus.

The upbeat retail sales report has helped retail stocks. The SPDR S&P Retail ETF (XRT 69.82, +0.55) is higher by 0.8% and the strength is contributing to the outperformance of discretionary shares. One company not participating in today's retail rally is Express (EXPR 17.40, -1.45). Shares of the retailer are down 7.9% after its cautious first quarter and full-year earnings guidance failed to please investors.DJ30 -11.30 NASDAQ +0.08 SP500 +0.32 NASDAQ Adv/Vol/Dec 1162/452.8 mln/1115 NYSE Adv/Vol/Dec 1421/151.3 mln/1383

10:35 am : Gold and silver just dropped lower. Gold dropped to a new session low of $1586.40/oz and silver dropped below $29/oz, back near its session low. Apr gold is now -0.1% at $1589.40/oz and May silver is -0.4% at $29.05/oz.

Crude oil futures rallied earlier this morning, heading into this morning's economic data. Following retail data, crude extended its gains to a new session high of $93.40/barrel. Just ahead of the inventory data, Apr crude was just above $93. Following the data, crude showed mild weakness, momentarily falling below $93. In current trade, Apr crude is now +0.4% at $92.88/barrel.

Natural gas rallied earlier in today's session, rising as high as $3.68/MMBtu. Currently, Apr natural gas is +0.7% at $3.67/MMBtu.DJ30 -31.24 NASDAQ -6.86 SP500 -2.44 NASDAQ Adv/Vol/Dec 1021/650.9 mln/1222 NYSE Adv/Vol/Dec 1190/127 mln/1588

10:00 am : The major averages saw little change in reaction to the latest business inventories data. The S&P 500 is off by 0.1%.

During January, business inventories rose 1.0%, which was higher than the 0.3% increase expected by the Briefing.com consensus. Today's reading follows the prior month's revised uptick of 0.3%.DJ30 -19.47 NASDAQ -8.15 SP500 -2.25 NASDAQ Adv/Vol/Dec 960/218.4 mln/1171 NYSE Adv/Vol/Dec 1138/87.7 mln/1567

09:50 am : The major averages saw some volatility at the start of the session. After opening on a lower note, the S&P 500 briefly climbed into positive territory before sliding to fresh lows. Currently, the benchmark index is off by 0.3% with health care, materials, and technology as the weakest sectors.

On the upside, consumer discretionary stocks are outperforming on the strength of retailers. The SPDR S&P Retail ETF (XRT 69.77, +0.50) is adding 0.7% after the February retail sales report exceeded expectations.

January business inventories will be reported in 15 minutes.DJ30 -26.96 NASDAQ -9.09 SP500 -3.45 NASDAQ Adv/Vol/Dec 953/153.2 mln/1127 NYSE Adv/Vol/Dec 1056/69.9 mln/1621

09:14 am : [BRIEFING.COM] S&P futures vs fair value: +1.10. Nasdaq futures vs fair value: +3.20. Heading into the open, equity futures are signaling little change at the start of today's cash session. Index futures traded lower overnight, but upbeat February retail sales data was enough to spark some pre-market buying interest.

For the month of February, retail sales rose 1.1%, while the Briefing.com consensus expected a rise of 0.5%. The prior month's reading pointed to an increase of 0.2%. Excluding autos, retail sales rose 1.0%, which was higher than the expected uptick of 0.5%.

Although the retail sales report painted an upbeat February picture, this was not echoed by Express (EXPR 16.50, -2.35). The apparel retailer is slumping 13.8% after issuing first quarter and full-year earnings guidance well below consensus expectations.

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.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +3.50.

U.S. equity futures are registering modest gains with the S&P 500 futures up 0.1%.

The major Asian bourses ended mostly lower with Hong Kong's Hang Seng (-1.5%) pacing the decline as worries of a slowdown in China's property market weighed. Elsewhere, reports suggest there is some disagreement over who should become Deputy Governor at the Bank of Japan. Today's reports suggest the Japanese Restoration Party and the Your Party endorse Kikuo Iwata as Deputy Governor but oppose Hiroshi Nakaso as the second Deputy Governor. This follows yesterday's headlines that the DPJ was opposed to Mr. Iwata becoming a Deputy Governor. Data from the region showed Australian home loans slid 1.5% month-over-month (0.2% expected) and Westpac Consumer Sentiment rose just 2.0% (7.7% previous) while South Korea's unemployment rate jumped to 3.5% (3.2% expected, 3.2% previous).

In Japan, the Nikkei closed lower by 0.6%, to post a second straight day of losses. Exporters fell as the yen strengthened, forcing shares of Canon and Konatsu down 2.8% and 1.6% respectively. Meanwhile, Japan Tobacco outperformed, surging 7.2% after demand for the government's share sale was more than twice the offering.
Hong Kong's Hang Seng lost 1.5% as property stocks weighed on concerns of a slowdown in China. China Resources Land sank 4.0% to lead property shares lower while Evergrande Real Estate shed 2.6%. Elsewhere, rail stocks were hit as China Railway Group and China Railway Construction gave up 3.2% and 5.6% respectively.
In China, the Shanghai Composite slipped 1.0% to end at its worst level in two months. Property stocks were the laggard with Poly Real Estate Group falling 3.6% to lead the decline. Elsewhere, cement names were weak as Anhui Conch Cement dropped 3.1%.

European indices are broadly lower after the release of several economic data points across the region. Eurozone industrial production declined 0.4% month-over-month, worse than the downtick of 0.1% expected by the consensus. French nonfarm payrolls declined 0.3% quarter-over-quarter, while the consensus expected a decrease of 0.1%. Meanwhile, the country's CPI rose 0.3% month-over-month (0.5% consensus). Spanish CPI climbed 0.2% month-over-month, slightly hotter than the rise of 0.1% that had been expected by the market.

Looking at news, Italy auctioned off 3-yr debt with the notes clearing the market at a yield of 2.48%, up from the previous auction yield of 2.30%. Similarly, the country's benchmark 10-yr yield is adding 10 basis points to 4.70%. Reports indicate Cyprus and the Troika are in discussion regarding a smaller bailout agreement for the troubled sovereign. In addition, the Eurogroup is scheduled to hold a Friday evening meeting to discuss the issue.

Germany's DAX is off by 0.2% and Commerzbank is the weakest performer. The financial trades lower by 8.5% after announcing plans to boost capital by selling additional shares.
In France, the CAC is lower by 0.5% with industrials underperforming. Cie de St-Gobain and Legrand are down 2.1% and 2.5% respectively.
The United Kingdom's FTSE is down 1.0% with miners underperforming. Antofagasta is sliding 3.4% and Kazakhmys is off by 4.2%.
In Italy, the MIB is down 1.8% as financials weigh. Banco Popolare and Intesa Sanpaolo are seeing respective losses of 4.1% and 2.8%.

08:34 am : [BRIEFING.COM] S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: +3.00. Equity futures ticked higher in reaction to the latest set of economic data. The S&P 500 futures are now flat.

February retail sales rose 1.1%, while the Briefing.com consensus expected a rise of 0.5%. The prior month's reading pointed to an increase of 0.2%. Excluding autos, retail sales rose 1.0%, which was higher than the expected uptick of 0.5%.

Export prices, excluding agriculture, increased by 0.6% in February after they had increased 0.5% during the prior month. Excluding oil, import prices were unchanged, which follows the 0.2% increase experienced in the prior month.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: -3.90. Nasdaq futures vs fair value: -4.50.

U.S. equity futures are modestly lower amid downbeat overseas trade. The S&P 500 futures are off by 0.2%.

Looking at overnight developments:

Asian markets ended on a lower note. Japan's Nikkei shed 0.6%, China's Shanghai lost 1.0%, and Hong Kong's Hang Seng ended lower by 1.5%.
Regional economic data was limited:
New Zealand's FPI slipped 0.3% month-over-month to follow the prior rise of 1.9%.
Australia's home loans declined 1.5% month-over-month against the expectations of an increase of 0.6%.
South Korean unemployment was reported at 3.5%, ahead of the 3.2% expected by the market.
In news:
The cabinet of Japanese Prime Minister Shinzo Abe is expected to raise its March economic assessment for the third month in a row.
Two Japanese opposition parties have voiced their support for Kikuo Iwata as the deputy governor of the Bank of Japan. This comes after the main opposition party said it plans to vote against Mr. Iwata's appointment.
European indices are broadly lower with peripheral markets underperforming. Italy's MIB is down 1.6% and Spain's IBEX is off by 0.8%. Meanwhile, Germany's DAX is off by 0.2%, France's CAC is shedding 0.4%, and the United Kingdom's FTSE trades lower by 0.9%.
Several economic data points were released across the region:
Eurozone industrial production declined 0.4% month-over-month, worse than the downtick of 0.1% expected by the consensus.
French nonfarm payrolls declined 0.3% quarter-over-quarter, while the consensus expected a decrease of 0.1%. Meanwhile, the country's CPI rose 0.3% month-over-month (0.5% consensus).
Spanish CPI climbed 0.2% month-over-month, slightly hotter than the rise of 0.1% that had been expected by the market.
Looking at news:
Italy auctioned off 3-yr debt with the notes clearing the market at a yield of 2.48%, up from the previous auction yield of 2.30%. Similarly, the country's benchmark 10-yr yield is adding 10 basis points to 4.70%.
Reports indicate Cyprus and the Troika are in discussion regarding a smaller bailout agreement for the troubled sovereign. In addition, the Eurogroup is scheduled to hold a Friday evening meeting to discuss the issue.

In U.S. corporate news:

Boeing (BA 84.72, +0.56) is adding 0.7% after the Federal Aviation Administration approved the company's plan to test and ensure the safety of the electrical systems in Boeing's 787 Dreamliner jets.
Express (EXPR 16.35, -2.50) is down 13.3% after the company issued full-year earnings guidance, which was much lower than the Capital IQ consensus.
Spectrum Pharmaceutical (SPPI 8.25, -4.18) is plunging 34.0% after the company said it expects significantly lower sales of one of its drugs.

The weekly MBA Mortgage Index declined 4.7% to follow last week's rise of 14.8%.

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.

06:15 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -2.00.

06:15 am : Nikkei...12236.66...-75.20...-0.60%. Hang Seng...22556.65...-334.00...-1.50%.

06:15 am : FTSE...6457.82...-62.80...-0.80%. DAX...7949.62...-16.50...-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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