TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 5:04 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: March 14th Thursday Trade Results - Profit $1260
PostPosted: Thu Mar 14, 2013 8:45 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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

Attachment:
031413-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1260.00.png
031413-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1260.00.png [ 84.08 KiB | Viewed 267 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1020.00 dollars or +10.20 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $240.00 dollars or +0.24 points. Total Profit @ $1260.00 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=1460

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

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

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 Extends Win Streak To 10

Attachment:
031413-Key-Price-Action-Markets.png
031413-Key-Price-Action-Markets.png [ 542.6 KiB | Viewed 265 times ]

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

NEW YORK (CNNMoney)
U.S. stocks advanced Thursday, with the Dow hitting yet another record high and the S&P 500 coming within 2 points of its all-time high.

The Dow Jones industrial average rose more than 80 points, or 0.6%, climbing to a fresh high above 14,530. The gains mark the Dow's 10th straight up day -- matching the winning streak in 1996, the year of former Fed Chairman Alan Greenspan's "irrational exuberance" speech.

The S&P 500 added 9 points, or 0.6%. The broad index is closing in on its all-time high of 1,565.15, set in October 2007. The Nasdaq gained 0.4%.

The daily grind higher in stocks "is acting like water torture for both bulls and bears," said Sam Stovall, chief equity strategist at S&P Capital IQ.

* Dow's best run since 1996

On one hand, bulls are worrying about slowing momentum in the stock rally, on the other, the bears are spooked by the fact that stocks keep going up, Stovall said.

"Investors are in search of a new catalyst to trigger the next move," he said, adding that the S&P 500 will likely pull back briefly before it reaches a new high.

In economic news, investors were encouraged by a Labor Department report showing initial jobless claims fell to 332,000 last week. That was better than forecasts of 350,000 and signaled ongoing improvement in the labor market.

On the corporate front, Men's Wearhouse (MW) soared 19% after reporting earnings, a $200 million share buyback and new guidance.

* BlackBerry back from dead (for now) with Z10

Shares of Blackberry (BBRY) pulled back Thursday, a day after rallying on the announcement that the company received one million orders for its Blackberry 10 device from an unnamed partner.

E*Trade (ETFC)shares fell after a major shareholder said it planned to sell its entire stake in the company.

Related: Fear & Greed Index moves into extreme greed

European markets ended higher, with Germany's DAX leading the way. A two-day summit of European leaders kicked off Thursday.

Asian markets also ended firmer. Japan's Nikkei was up 1.2% but the Shanghai Composite and Hong Kong's Hang Seng continued to lag on talk of efforts to control rising prices.

"We shall take measures, including monetary policy adjustments, to stabilize prices, and lower inflation expectations," Zhou Xiaochuan, China's central bank governor, said Wednesday.

The dollar lost ground against the euro and the British pound. It was flat versus Japanese yen.

Oil and gold prices edged higher.

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

Image



4:25 pm : The major averages ended today's session with modest gains. The S&P 500 advanced 0.6%, and settled within two points of a record close. Meanwhile, the Dow Jones Industrial Average registered its 10th consecutive gain.

After the previous three sessions adhered to the script of early weakness resulting in steady dip buying, today's trade began on the opposite note. The S&P 500 jumped out of the gate and remained in the black for the duration of the day.

While today's start was opposite of that observed in recent days, the result was not. The benchmark index notched session highs shortly before the close, and settled near that level.

The gains were paced by two cyclical sectors. Energy and technology were the top two performers at the start, and they ended in the lead as well.

The energy sector saw broad strength and the SPDR Energy Select Sector ETF (XLE 80.02, +1.08) advanced 1.4% to end at its best level since July 2011. The space outperformed notably even as crude oil registered lesser gains. The energy component ended higher by 0.6%, at $93.08 per barrel.

The technology sector was the other driver of today's action. Major sector components contributed to the outperformance as Apple (AAPL 432.50, +4.15) and International Business Machines (IBM 215.80, +3.74) ended with respective gains of 1.0% and 1.8%.

In addition, chipmakers, which comprise a significant portion of the tech sector, traded ahead of the broader market. The PHLX Semiconductor Index settled higher by 0.5%.

Although growth-oriented sectors ended in the lead, this was not the case with consumer discretionary shares. The group underperformed due to the relative weakness of Amazon.com (AMZN 265.74, -9.36). The online retailer fell 3.4% after JPMorgan Chase downgraded the stock to 'Neutral' from 'Overweight.'

Outside of Amazon.com, remaining discretionary stocks traded in-line with the broader market. Other retailers were unaffected by the stock-specific downgrade and the SPDR S&P Retail ETF (XRT 70.64, +0.45) rose 0.6%.

Today's trade saw all ten S&P 500 sectors end with gains as health care and utilities rounded out the bottom of the rankings.

Health care lagged amid weakness in drug makers after the Food and Drug Administration announced an investigation into several drugs linked to previously-unknown potential side effects. The SPDR Health Care Select Sector ETF (XLV 45.02, +0.04) settled higher by 0.1%.

Trading volume was below average once again as 677 million shares changed hands on the floor of the New York Stock Exchange. Thus far, the average of this week's volume has tracked almost 14% below the 50-day average volume.

With the S&P 500 inching towards record highs, the CBOE Volatility Index (VIX 11.29, -0.54) fell to multi-year lows. Including today's decline, the short-term volatility measure has sunk back to levels last seen in March 2007.

Reviewing today's economic news, weekly initial claims declined 10,000 to 332,000. This was received as a positive sign of life from the labor market after initial claims spent much of last year confined to a range between 350,000-400,000. Today's report marked the third consecutive week which saw a figure outside of that range.

Producer prices rose 0.7% in February. That was up from a 0.2% gain in January and was the strongest monthly increase since rising 1.0% in September 2012. The Briefing.com consensus expected the PPI to increase 0.6%.

Excluding food and energy, core PPI prices rose 0.2% for a second consecutive month. That was exactly what the consensus expected. A large part of the increase in core prices was the result of a strong gain in pharmaceutical preparations.

The current account deficit for the fourth quarter totaled $110.4 billion, which was narrower than the $112.3 billion deficit that had been broadly anticipated.

In tomorrow's economic data, February CPI, core CPI, and the March Empire Manufacturing Index will all be reported at 8:30 ET. Net long-term TIC flows will be announced at 9:00 ET with February industrial production and capacity utilization set for a 9:15 ET release. Lastly, preliminary March Michigan Sentiment will be reported at 9:55 ET.DJ30 +83.86 NASDAQ +13.81 SP500 +8.71 NASDAQ Adv/Vol/Dec 1639/1.61 bln/802 NYSE Adv/Vol/Dec 2006/676.5 mln/986

3:35 pm :

Apr crude oil rose into positive territory moments after pit trade opened and spent most of the session chopping around slightly above the unchanged line. The energy component popped to a session high of $93.18 per barrel as it headed into the close and settled at $93.02 per barrel, or 0.6% higher.
Apr natural gas trended higher during today's pit trade on better-than-anticipated inventory data that showed a draw of 145 bcf when a draw of 134-139 bcf was expected. It lifted from its session low of $3.70 per MMBtu and settled 3.5% higher at $3.81 per MMBtu, just below its session high of $3.82 per MMBtu.
Apr gold began pit trade in negative territory and dipped to a session low of $1575.20 per ounce following economic data that showed initial claims returned to Jan 2008 lows. Despite the initial weakness, the yellow metal inched higher for the remainder of its session as the dollar index weakened. It broke into positive territory in afternoon action and settled 0.2% higher at $1590.60 per ounce.
May silver, on the other hand, did not gain enough momentum to get out of the red. It came off its session low of $28.53 per ounce set in early morning floor trade and settled with a 0.5% loss at $28.81 per ounce, slightly below its session high of $28.89 per ounce. joanna.szklarz: highlight today was definitely nat gas.

DJ30 +71.45 NASDAQ +11.74 SP500 +7.74 NASDAQ Adv/Vol/Dec 1547/1362.7 mln/884 NYSE Adv/Vol/Dec 1905/428 mln/1073

3:00 pm : Heading into the final hour of trade, the major averages continue to hover near their recent levels. The S&P 500 is adding 0.4% as the index trades less than five points below its highest close of all-time.

Even though the S&P 500 is nearing uncharted territory, trading volume has not indicated increased interest. Interestingly, the average volume observed over the past three days was more than 15.0% below its 50-day average.

In addition to low volume, recent sessions have seen notable declines in the CBOE Volatility Index (VIX 11.56, -0.27). Including today's drop, the short-term volatility measure has slid back to six-year lows.DJ30 +62.40 NASDAQ +9.78 SP500 +6.35 NASDAQ Adv/Vol/Dec 1508/1.19 bln/910 NYSE Adv/Vol/Dec 1893/375.2 mln/1081

2:30 pm : Range bound afternoon trade continues with the S&P 500 higher by 0.4%. As the benchmark index hovers near its highs, the energy sector remains as the top performer. The SPDR Energy Select Sector ETF (XLE 79.81, +0.87) is adding 1.1%. Energy stocks outperformed in earlier trade despite only modest gains observed in the price of crude. Since then, the energy component has jumped to fresh highs. Crude oil now trades higher by 0.6% to $93.08.

While the energy sector is the only group with gains over 1.0%, health care is the only sector trading in the red. This follows an announcement from the Food and Drug Administration which launched an investigation into several drugs linked to previously-unknown potential side effects. Bristol-Myers (BMY 38.34, -0.15) and Merck (MRK 44.09, -0.50) are among the affected names.DJ30 +55.37 NASDAQ +8.43 SP500 +5.65 NASDAQ Adv/Vol/Dec 1461/1.10 bln/942 NYSE Adv/Vol/Dec 1879/346.4 mln/1097

2:00 pm : The major averages have slipped from their recent levels, but they continue to trade higher. The S&P 500 is adding 0.3% and energy remains as the strongest sector. The growth-sensitive space trades higher by 1.1% even as crude oil adds just 0.4% to $92.88.

While energy is the clear leader, the remaining sectors have seen more limited gains. Technology stocks are the second best performing group with the SPDR Technology Select Sector ETF (XLK 30.38, +0.14) higher by 0.5%.

With the broader market trading near session highs, the CBOE Volatility Index (VIX 11.57, -0.26) is near its lows. Including today's decline, the short-term volatility measure has returned to multi-year lows.DJ30 +47.48 NASDAQ +7.88 SP500 +4.73 NASDAQ Adv/Vol/Dec 1422/1.03 bln/972 NYSE Adv/Vol/Dec 1850/319.3 mln/1121

1:30 pm : Recent trade has seen little change from the major averages. The S&P 500 is higher by 0.4% as the index continues to hover near its best levels of the day. The bulk of today's advance resulted from the opening minutes. Since then, the major averages have hovered in a relatively narrow range.

Energy and technology have been the clear leaders so far today. The energy sector is benefitting from broad strength and the SPDR Energy Select Sector ETF (XLE 79.84, +0.90) is adding 1.1%.

On the downside, the health care sector is registering slim losses after the Food and Drug Administration announced an investigation into several drugs linked to previously-unknown potential side effects. Bristol-Myers (BMY 38.18, -0.32) and Merck (MRK 44.12, -0.47) are among the affected names. Meanwhile, the SPDR Health Care Select Sector ETF (XLV 44.94, -0.04) is off by 0.1%.DJ30 +52.33 NASDAQ +8.79 SP500 +5.50 NASDAQ Adv/Vol/Dec 1400/948.8 mln/964 NYSE Adv/Vol/Dec 1843/292.7 mln/1115

1:05 pm : At midday, equities are hovering near their highs with the S&P 500 firmer by 0.4%.

Today's session started on a positive note with global markets rebounding from recent weakness. The upbeat overseas trade contributed to the relative strength of equity futures, which acted in support of a higher open.

In addition, today's economic data revealed that for the week ending March 9, initial jobless claims declined 10,000 to 332,000. This was encouraging as the report marked the third consecutive time where claims held below the 350,000-400,000 range observed for the bulk of last year. The Briefing.com consensus expected the initial claims level to increase to 350,000.

With equities off to a running start, cyclical energy and technology stocks paced the early gains. The SPDR Energy Select Sector ETF (XLE 79.78, +0.84) trades higher by 1.1%, and is the top performing sector ETF despite crude oil adding just 0.3% to $92.78. In addition, today's strength puts the proxy ETF at its best level since July 2011.

Elsewhere, technology stocks are enjoying broad strength. Large cap names Apple (AAPL 432.71, +4.36) and International Business Machines (IBM 214.60, +2.54) are both up near 1.2%. In addition, chipmakers are outperforming as reflected by the 30-stock PHLX Semiconductor Index. The microprocessor manufacturer gauge trades higher by 0.5%.

While growth oriented stocks are among today's leaders, the cyclical discretionary space is underperforming the broader market. This is a result of relative weakness in the shares of Amazon.com (AMZN 268.36, -6.74). The online retail giant trades lower by 2.5% after JPMorgan Chase downgraded Amazon stock to 'Neutral' from 'Overweight.'

All ten S&P 500 sectors trade higher as a result of today's advance. However, health care and utilities have had their gains limited to just 0.2%.

Reviewing today's remaining economic news, producer prices rose 0.7% in February. That is up from a 0.2% gain in January and was the strongest monthly increase since rising 1.0% in September 2012. The Briefing.com consensus expected the PPI to increase 0.6%.

Excluding food and energy, core PPI prices rose 0.2% for a second consecutive month. That was exactly what the consensus expected. A large part of the increase in core prices was the result of a strong gain in pharmaceutical preparations.

The current account deficit for the fourth quarter totaled $110.4 billion, which was narrower than the $112.3 billion deficit that had been broadly anticipated.DJ30 +64.18 NASDAQ +11.84 SP500 +6.83 NASDAQ Adv/Vol/Dec 1435/874.1 mln/918 NYSE Adv/Vol/Dec 1877/269.1 mln/1064

12:30 pm : The S&P 500 has notched fresh highs in recent trade. The index currently trades higher by 0.5% with the energy space as the clear outperformer. The SPDR Energy Select Sector ETF (XLE 79.85, +0.91) is advancing 1.2% even as crude oil adds just 0.3%. Today's advance puts the energy sector proxy ETF at its best level of the year.

On the downside, the utilities sector is the lone declined with the SPDR Utilities Select Sector ETF (XLU 38.11, -0.02) down 0.1%.DJ30 +67.04 NASDAQ +12.26 SP500 +6.95 NASDAQ Adv/Vol/Dec 1420/794.1 mln/926 NYSE Adv/Vol/Dec 1833/243.9 mln/1064

12:00 pm : The major averages have shown little change in recent trade. The S&P 500 is higher by 0.4% as the benchmark index continues to hover near its highs. Including today's advance, the S&P is less than five points away from surpassing its highest close of all-time.

Today's modest gains are being paced by cyclical sectors. However, the leadership isn't clearly defined as defensively-oriented consumer staples and telecoms appear among today's top performers as well.

With the markets climbing higher once again, the CBOE Volatility Index (VIX 11.65, -0.18) has slipped back near multi-year lows.DJ30 +61.91 NASDAQ +10.26 SP500 +6.17 NASDAQ Adv/Vol/Dec 1399/700.5 mln/916 NYSE Adv/Vol/Dec 1798/212.2 mln/1086

11:25 am : Equities continue to trade near their recent levels with the S&P 500 firmer by 0.3%. The major averages made the bulk of their advance at the open, and have been confined to a narrow range since.

Today's weekly initial claims report contributed to the upbeat open. Claims for the week ending March 9 fell 10,000 to 332,000. This is notable as initial claims have now spent three consecutive weeks below the 350,000-400,000 range observed for much of last year.

The early gains were paced by energy and technology. Notably, the tech sector is seeing broad strength. Large cap components Apple (AAPL 432.13, +3.78) and International Business Machines (IBM 214.63, +2.57) trade with respective gains of 0.9% and 1.2%. Elsewhere, chipmakers are outperforming as well. The PHLX Semiconductor Index is adding 0.6%.DJ30 +50.53 NASDAQ +8.14 SP500 +4.53 NASDAQ Adv/Vol/Dec 1346/602.3 mln/923 NYSE Adv/Vol/Dec 1731/185.3 mln/1119

11:00 am : The major averages have slipped off their highs, but they continue to trade in positive territory. The S&P 500 is adding 0.4%.

The first three sessions of the week began with a lower open, which was followed by a steady day-long climb. That three-day pattern was broken today when the S&P 500 opened with gains and notched its best level of the day 15 minutes into the session. Since then, the index has retreated slightly.

Cyclical sectors paced the early gains, and they remain in the lead. Energy, financials, and technology all trade ahead of the broader market. Meanwhile, defensively-oriented health care and utilities are registering slim losses. In addition, discretionary stocks trade in the red with Amazon.com (AMZN 267.54, -7.56) down 2.8%. The relative weakness comes after the online retailer was downgraded to 'Neutral' from 'Overweight' by JPMorgan Chase.DJ30 +53.68 NASDAQ +10.28 SP500 +5.31 NASDAQ Adv/Vol/Dec 1382/497.5 mln/864 NYSE Adv/Vol/Dec 1803/156.4 mln/1023

10:35 am : Commodities are mixed this morning with the dollar index near the unchanged mark. Precious metals remain in negative territory, despite that earlier rally off of session lows, while copper, crude oil and natural gas are trading higher.

Natural gas began to rally about an hour and a half ago, rising as high as $3.75/MMBtu. Just ahead of inventory data, Apr nat gas was +2.0% at $3.75/MMBtu. Following the data, nat gas rallied to a new HoD of $3.81/MMBtu and is now +2.5% at $3.77/MMBtu.

Earlier this morning , crude oil futures sold off, dropping near the $92 level two separate time. However, the $92 level held and the energy component has since pushed back into positive territory. Apr crude is now +0.3% at $92.83/barrel.

Precious metals remain in the red with Apr gold -0.2% at $1584.90/oz and May silver -0.5% at $28.81/lb. Copper, on the other hand, is trading +0.4% at $3.54/lb.DJ30 +54.95 NASDAQ +9.82 SP500 +4.98 NASDAQ Adv/Vol/Dec 1333/409.8 mln/845 NYSE Adv/Vol/Dec 1752/130 mln/1057

10:00 am : Equities continue to trade near their early highs with the S&P 500 firmer by 0.4%.

Cyclical sectors have been the main drivers behind the early gains. Energy, financials, and technology stocks are among the early outperformers. Meanwhile, defensively-oriented health care and utilities have been more tentative in their advance.

In addition, the consumer discretionary space has been left out of the early rally. This is largely due to the relative weakness in the shares of Amazon.com (AMZN 267.43, -7.67). The online retailer is down 2.9% following a JPMorgan Chase downgrade to 'Neutral' from 'Overweight.'DJ30 +63.43 NASDAQ +12.87 SP500 +6.66 NASDAQ Adv/Vol/Dec 1334/243.2 mln/742 NYSE Adv/Vol/Dec 1807/87.3 mln/913

09:45 am : The major averages are registering modest gains in early trade. The S&P 500 is adding 0.3% as the index hovers near its early session high.

Today's weekly initial claims report painted an encouraging picture of the labor market. Initial claims declined by 10,000 to 332,000. This marks the third consecutive reading below the 350,000-400,000 range to which initial claims were confined for much of last year.

Eight of 10 S&P 500 sectors are registering gains in early action. The utilities sector is the weakest performer with the SPDR Utilities Select Sector ETF (XLU 38.09, -0.04) off by 0.1%. Elsewhere, the consumer discretionary space is underperforming as Amazon.com (AMZN 268.22, -6.88) weighs after the online retailer was downgrade to 'Neutral' from 'Overweight' by JPMorgan Chase.DJ30 +53.80 NASDAQ +11.80 SP500 +5.91 NASDAQ Adv/Vol/Dec 1297/155.9 mln/697 NYSE Adv/Vol/Dec 1727/66.1 mln/918

09:18 am : [BRIEFING.COM] S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +8.20. Heading into the open, equity futures are indicating a higher start to the session. The S&P 500 futures are up 0.2%, trading near their pre-market highs.

With the session poised to start on a positive note, the market received some encouraging news. Weekly initial claims were reported at 332,000 to follow last week's 342,000. Notably, today's reading was the third in a row which fell below the 350,000-400,000 range observed for much of last year.

Looking at pre-market movers, Amazon.com (AMZN 269.50, -5.92) is slipping 2.2% after JPMorgan Chase downgraded the stock to 'Neutral' from 'Overweight.'

As today's open nears, trading volume is setting up to be one of the main points of focus. This comes after the first three sessions of the week produced an average NYSE floor volume of 602 million. The average total from the past three days is more than 15% below the average observed over the past 50 sessions.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +10.50.

U.S. equity futures are registering modest gains with the S&P 500 futures up 0.3%.

The major Asian bourses ended mostly higher as traders moved in to scoop up beaten down shares in Hong Kong and Shanghai. Japan's Nikkei (+1.2%) was the top performer after the Lower House endorsed Bank of Japan Governor nominee Haruhiko Kuroda, as well as Kikuo Iwata and Hiroshi Nakaso for Deputy Governors. Bangko Sentral ng Pilipinas held its key rate steady at 3.50%, as expected, and attributed the recent jump in inflation to 3.4% (3.0% previous) to a rise in food, alcohol and tobacco, and domestic petroleum products. Data out overnight saw Australia's employment change climbed 71.5K (9.5K expected), keeping the unemployment rate steady at 5.4% (5.5% expected). Elsewhere, India's Wholesale Price Index jumped 6.84% year-over-year (6.50% expected, 6.62% previous) and Hong Kong's industrial production rose 1.3% year-over-year.

In Japan, the Nikkei gained 1.2% as real estate names staged a rebound. Mitsubishi Estate and Mitsui Fudosan were the top performers among developers, posting gains of 5.0% and 5.3% respectively. Elsewhere, shares of Nintendo sank 2.5% after a U.S. federal court ruling went against the company.
Hong Kong's Hang Seng finished with a gain of 0.3% as traders moved in to scoop up shares at a discount. Financials saw strong gains as ICBC added 1.1% and China Construction Bank jumped 1.3%. However, property shares remained under pressure as Sun Hung Kai fell 3.3% after banks announced a hike to their mortgage rates.
In China, the Shanghai Composite settled higher by 0.3% as shares rallied for the first time in six days. Telecom provider ZTE surged 8.0% after announcing it expects to receive some patents in Europe in the upcoming year. Elsewhere, Shanghai Pudong Development Bank gained 2.0% after posting solid quarterly results.

European indices are registering gains as the generally quiet session continues. Looking at regional economic data, Eurozone employment change pointed to a quarter-over-quarter decline of 0.3% against the expectations of a downtick of 0.1%. Greek fourth quarter unemployment rose to a record 26.0%. This marks a rise from the prior quarter's 24.8% as well as the 20.7% reported for the same period a year earlier. Elsewhere, Spanish retail sales fell 10.2% year-over-year. This reading was slightly better-than-feared as the consensus had expected a decline of 11.2%.

Reports indicate Troika officials left Greece without reaching final agreement on the release of the next tranche of aid. This is weighing on the euro which trades around 1.2930 (-30 pips) against the U.S. dollar.

The United Kingdom's FTSE is adding 0.4% with Aggreko in the lead. The provider of portable power supplies trades higher by 5.4% after winning two African contracts totaling $200 million. On the downside, miners are underperforming. Rio Tinto is down 1.8%.
In France, the CAC is rising 0.8% with major components pacing the gains. ArcelorMittal is adding 2.3% and France Telecom trades higher by 4.7%.
Germany's DAX is firmer by 1.0%. Deutsche Lufthansa is rising 3.6% after the airline agreed to purchase 100 fuel-efficient jets from Airbus.

08:34 am : [BRIEFING.COM] S&P futures vs fair value: +5.40. Nasdaq futures vs fair value: +11.00. The S&P 500 futures are adding 0.3% following the latest set of economic data.

The latest weekly initial jobless claims count totaled 332,000, 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 342,000. As for continuing claims, they fell to 3.024 million from 3.113 million.

February producer prices rose 0.7%, which was hotter than the uptick of 0.6% forecast by the Briefing.com consensus. Core producer prices rose 0.2%, in-line with expectations.

The current account deficit for the fourth quarter totaled $110.4 billion, which was narrower than the $112.3 billion deficit that had been broadly anticipated.

08:04 am : [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +8.70.

U.S. equity futures are trading modestly higher amid generally positive overseas trade. The S&P 500 futures are adding 0.2%.

Looking at overnight developments:

Asian markets settled higher. China's Shanghai Composite and Hong Kong's Hang Seng each added 0.3% while Japan's Nikkei ended higher by 1.3%.
In economic data:
The Reserve Bank of New Zealand left its key interest rate unchanged at 2.50%, as expected.
Australia's employment change report revealed an addition of 71,500 jobs, ahead of the 9,000 expected by the consensus. Meanwhile, the unemployment rate remained at 5.4%. The consensus had expected the rate to tick up to 5.5%.
South Korea's central bank held its key interest rate at 2.75%, as expected.
Japan's industrial production rose 0.3% month-over-month. An unchanged reading was expected by the market.
Looking at news:
The Reserve Bank of New Zealand Governor Graeme Wheeler said he sees the New Zealand dollar as overvalued by about 10-15%, and expects it to weaken eventually.

European indices are registering gains across the board. The United Kingdom's FTSE is adding 0.3%, France's CAC is higher by 0.6%, and Germany's DAX is rising 0.7%.
Looking at economic data:
Eurozone employment change pointed to a quarter-over-quarter decline of 0.3% against the expectations of a downtick of 0.1%.
Spanish retail sales fell 10.2% year-over-year. This reading was slightly better-than-feared as the consensus had expected a decline of 11.2%.
In news:
Reports indicate Troika officials left Greece without reaching final agreement on the release of the next tranche of aid. This is weighing on the euro which trades around 1.2920 (-40 pips) against the U.S. dollar.

In U.S. corporate news:

Amazon.com (AMZN 269.00, -6.10) is down 2.2% following a JPMorgan Chase downgrade to 'Neutral' from 'Overweight.'
E*Trade Financial (ETFC 11.17, -0.65) is down 5.5% after the company announced a secondary offering of 27.4 million shares of its common stock.

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.

The U.S. Treasury will reopen $13 billion in 30-yr bonds.

06:52 am : [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +4.00.

06:52 am : Nikkei...12381.19...+141.50...+1.20%. Hang Seng...22619.18...+62.50...+0.30%.

06:52 am : FTSE...6496.22...+14.70...+0.20%. DAX...8017.14...+46.20...+0.60%.

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage
Market Update


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr