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 Post subject: April 30th Tuesday Trade Results - Profit $14250
PostPosted: Tue Apr 30, 2013 10:09 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
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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)
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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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 @ $7550.00 dollars or +75.50 points, Light Crude Oil CL ($CL_F) futures @ $6700.00 dollars or +6.70 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points, EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks and Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points. Total Profit @ $14250.00 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
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
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 about each one of my trades via price action trading from entry to exit (e.g. time, price, contract size) 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=116&t=1494

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=207&t=1794

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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 for price action trading 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.

S&P 500 Has Best Win Streak Since 2009

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

NEW YORK (CNNMoney)
The bulls are running on Wall Street.

The S&P 500 closed at a record high Tuesday, while the Nasdaq finished at its highest level in more than 12 years.

Both indexes posted their sixth straight monthly gain in April -- the best streak since the bull market began in March 2009.

The Dow Jones industrial average rose for its fifth straight month in April, and closed just 48 points shy of its all-time high reached earlier in the month.

With stocks reaching new milestones, here are five things to know about the market:

1. Apple leads the way: Apple (AAPL, Fortune 500) shares rose almost 3% Tuesday, as the company took another a step toward the largest sale of corporate bonds ever. The company is expected to offer $17 billion worth of bonds later Tuesday, according to the Wall Street Journal and Bloomberg.

The advance in Apple's stock boosted the tech-heavy Nasdaq as well as the broader market. IBM (IBM, Fortune 500) and Microsoft (MSFT, Fortune 500) led the Dow's gains for the day.

Apple's stock is now up almost 15% from its 16-month low hit earlier this month.

2. Home prices jump, consumers feeling better: The S&P/Case-Shiller 20-city home price index rose a slightly-higher-than-expected 9.3% in February, marking the biggest gain since May 2006, near the height of the housing bubble.

The Conference Board's monthly consumer confidence index rose to a five-month high in April.

On the downside, the Institute for Supply Management's index of manufacturing activity in the Midwest dropped to 49 in April, missing economists' expectations. A reading below 50 points signals contraction in the sector for the first time since September 2009. The ISM's reading on national manufacturing activity is due Wednesday, and economists are still expecting it to show a modest expansion.

3. Best Buy big winner: Shares of Best Buy (BBY, Fortune 500) rallied after the retailer announced an agreement to sell its European stake to Carphone Warehouse (CPW). The stock was the top performer in the S&P 500 Tuesday, and is the second-biggest gainer in the broad index this year, with shares up almost 120% in 2013.

4. U.S. earnings disappoint, Europe earnings surprise: Pfizer (PFE, Fortune 500) posted worse-than-expected profit and sales and lowered its outlook for the year. The lackluster results sent shares of the drug maker down more than 4%, making it the biggest loser in the Dow.

Pitney Bowes (PBI, Fortune 500) reported earnings that plunged from a year ago and came in below Wall Street's expectations. The mailing and package services company also slashed its quarterly dividend in half. Shares tumbled more than 15%, making Pitney Bowes the biggest decliner in the S&P 500.

But earnings reports from European companies including oil giant BP (BP) and banks UBS (UBS) and Deutsche Bank (DB) surprised investors with better-than-expected results. Shares of all three companies were sharply higher.

* Video - Are Euro Banks Out Of The Woods?

5. Sell in May and go away? The Wall Street adage has proven to be true for the last three years, and with stocks at lofty levels, analysts have been warning that a short-term correction could be in the cards again.

May will begin with the central banks in focus, as the Federal Reserve is expected to wrap up its two-day meeting Wednesday afternoon. The Fed's policies have been widely been given credit for boosting stocks.

With the economy growing slowly and inflation still tame, the Fed is expected to hold interest rates low and keep up with its pace of $85 billion in bond purchases a month.

The European Central Bank is scheduled to meet Thursday. The ECB is expected to cut interest rates for the first time in 10 months this week, as Europe's economy remain mired in recession.

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Market Update

4:10 pm : Equities ended today's session on a modestly higher note as the Nasdaq rose 0.7% and the S&P 500 added 0.3%. The Dow Jones Industrial Average, for its part, tacked on 0.1%.

The major averages spent the day climbing off their lows after it was revealed that manufacturing activity in the Chicago region in April contracted for the first time since September 2009, falling from 52.4 in March to 49.0. The Briefing.com consensus expected the Chicago PMI to decline to 52.0.

After hitting a relative peak of 60.9 in January, production levels have dropped swiftly over the past few months, breaking through the contraction threshold in April. The production index dropped to 49.9 from 51.8 in March.

Technology stocks paced the late-morning rebound as the sector displayed strength amid reports indicating Apple's (AAPL 442.78, +12.66) $17 billion debt offering received significant investor interest. The largest tech company advanced 2.8% on the news, and its gains helped the Nasdaq outperform the other indices.

Although the tech sector finished higher by 1.2%, other cyclical groups did not register comparable gains. Further, today's second-best performer was the defensively-oriented telecom space as rumors regarding Verizon Communications' (VZ 53.91, +0.45) attempt to acquire Vodafone's (VOD 30.59, 0.00) stake in Verizon Wireless returned to the forefront.

On the downside, the health care sector was the weakest performer after Dow component Pfizer (PFE 29.07, -1.36) fell 4.5% after missing on earnings and revenue.

Homebuilders were also among today's notable laggards. DR Horton (DHI 26.08, -0.44) and PulteGroup (PHM 20.99, -0.22) both lost near 1.5% while the broader iShares Dow Jones US Home Construction ETF (ITB 24.26, -0.17) shed 0.7%. In addition, a JPMorgan Chase downgrade of PulteGroup contributed to the underperformance of the homebuilder.

Looking back at the day's remaining economic data, the Conference Board's Consumer Confidence Index increased from 59.7 in March to 68.1 in April. That move recovered the entire loss that occurred in March. The Briefing.com consensus expected the index to increase to 61.0.

The sudden surge in confidence was primarily driven by solid increases in the stock market and slightly lower gasoline prices. Minor improvements in employment levels also likely contributed positively to confidence.

The Employment Cost Index increased 0.3% in the first quarter of 2013, down from a downwardly revised 0.4% (from 0.5%) in the final quarter of 2012. The Briefing.com consensus expected employment costs to increase 0.5%.

A busy day of economic reporting is in store for tomorrow with the weekly MBA Mortgage Index set to be released at 7:00 ET. April ADP Employment Change will be reported at 8:15 ET while March construction spending and April ISM Index will both be announced at 10:00 ET. Finally, the Federal Reserve Open Market Committee will announce its interest rate decision and release its policy statement at 14:15 ET.DJ30 +21.05 NASDAQ +21.77 SP500 +3.95 NASDAQ Adv/Vol/Dec 1501/1.87 bln/974 NYSE Adv/Vol/Dec 1998/887.6 mln/991

3:30 pm :

June crude oil fell deeper into negative territory during today's floor trade despite weakness in the dollar index. The energy component fell off its session high of $94.40 per barrel and dipped to a session low of $92.93 per barrel in late afternoon pit action. Unable to erase much of the losses, it settled 1.1% lower at $93.45 per barrel.
June natural gas also traded in the red today. It managed to climb to a session high of $4.40 per MMBtu but could not hold the momentum. It fell back to a session low of $4.32 per MMBtu and settled at $4.34 per MMBtu, booking a loss of 1.1%.
June gold chopped around between positive and negative territory today despite the weaker dollar index. The yellow metal popped to a session high of $1476.50 per ounce in morning action but quickly retreated to a session low of $1463.10 per ounce. It picked up momentum again as it headed in to the close and settled 0.3% higher at $1472.10 per ounce.
July silver pulled back from its session high of $24.35 per ounce set shortly after floor trade opened and spent most of its session trading near the unchanged line. It eventually settled just one penny higher at $24.18 per ounce.

DJ30 +4.06 NASDAQ +15.29 SP500 +1.51 NASDAQ Adv/Vol/Dec 1409/1481.4 mln/1026 NYSE Adv/Vol/Dec 1836/458 mln/122

3:00 pm : The key indices continue to trade near their recent levels as today's session enters its final hour. The technology sector is the only group which has been able to show notable strength today.

On the downside, consumer staples and materials are both lower by 0.2%. Meanwhile, the health care sector is the only notable underperformer, trading down 0.7%. Disappointing earnings from Pfizer (PFE 29.38, -1.05) have kept the defensively-oriented space near its lows for the duration of the day.DJ30 +3.98 NASDAQ +16.67 SP500 +1.56 NASDAQ Adv/Vol/Dec 1407/1.34 bln/1035 NYSE Adv/Vol/Dec 1770/416.5 mln/1196

2:30 pm : Recent action saw the major averages slip from their highs. As a result, the Dow and S&P 500 are back near their flat lines while the Nasdaq continues to trade higher by 0.5%.

The tech-heavy Nasdaq has been able to outperform the broader market thanks to the strong gains being registered by the technology sector. Meanwhile, other sectors have been much more limited in their advance. After technology (+1.0%) and telecom (+0.5%), the third best-performing group is the energy sector, which trades with a gain of just 0.1%.DJ30 -1.11 NASDAQ +15.86 SP500 +1.24 NASDAQ Adv/Vol/Dec 1397/1.23 bln/1028 NYSE Adv/Vol/Dec 1761/379.1 mln/1187

2:00 pm : The major averages remain near their highs as some of today's weakest sectors climb off their lows. However, consumer staples, health care, and materials continue to trade in the red.

Of the three groups, health care is the weakest performer as Pfizer (PFE 29.40, -1.03) weighs. Biotech stocks have also shown some weakness as the iShares Nasdaq Biotechnology ETF (IBB 172.19, -1.28) trades lower by 0.7%.

Elsewhere, the SPDR Materials Select Sector ETF (XLB 39.41, -0.08) is off by 0.2%. U.S. Steel (X 17.35, -0.19) is slipping 1.1% after missing on earnings. However, the disappointing earnings from the steelmaker are having little effect on other steel producers as the Market Vectors Steel ETF (SLX 42.06, +0.10) trades higher by 0.2%.DJ30 +17.82 NASDAQ +18.32 SP500 +3.11 NASDAQ Adv/Vol/Dec 1395/1.13 bln/1026 NYSE Adv/Vol/Dec 1798/346.2 mln/1143

1:30 pm : Equities continue to hover near their highs with the S&P 500 firmer by 0.2%. The technology sector remains atop the leaderboard as it trades with a gain of 1.1%.

The growth-sensitive sector is the only group, which has been able to climb steadily throughout the session as large cap names build on their gains. IBM (IBM 201.38, +2.23), Microsoft (MSFT 32.90, +0.29), and Oracle (ORCL 32.72, +0.48) are all up between 0.9% and 1.4%.

In addition, the news of strong investor interest in Apple's (AAPL 444.70, +14.58) debt offering has helped the largest tech stock push to fresh highs. Shares of Apple are now higher by 3.3%.DJ30 +2.38 NASDAQ +17.93 SP500 +2.21 NASDAQ Adv/Vol/Dec 1411/1.05 bln/997 NYSE Adv/Vol/Dec 1778/321.1 mln/1136

1:00 pm : The major averages trade with modest gains at midday. The Nasdaq is higher by 0.6% while the Dow Jones Industrial Average adds 0.1%.

Equities saw a brief morning stumble shortly after the April Chicago PMI came in at 49.0 while the Briefing.com consensus expected a reading of 52.0.

However, the early weakness was short-lived as the tech sector continued to outperform, thus providing a measure of support for the late-morning rebound.

The relative strength of the tech sector has helped the Nasdaq trade ahead of the other indices. In addition, the outperformance of its largest component, Apple (AAPL 442.00, +11.88), has helped the index maintain its gains. Shares of Apple are higher by 2.8% after reports indicated the company's first debt offering has received notable investor interest.

With the technology sector higher by 1.0%, no other group has been able to trade with a gain in excess of 0.5%. The telecom space is the second-best performer amid the reemergence of rumors surrounding Verizon's (VZ 54.00, +0.55) attempt to acquire Vodafone's (VOD 30.56, -0.03) stake in Verizon Wireless.

On the downside, Pfizer (PFE 29.32, -1.11) trades lower by 3.7% after missing on earnings and revenue. The disappointing results from the Dow component have pressured the blue chip average as well as the health care sector, which is the weakest performer of the day. The SPDR Health Care Select Sector ETF (XLV 47.36, -0.33) is off by 0.7%

Looking back at the day's remaining economic data, the Conference Board's Consumer Confidence Index increased from 59.7 in March to 68.1 in April. That move recovered the entire loss that occurred in March. The Briefing.com consensus expected the index to increase to 61.0.

The sudden surge in confidence was primarily driven by solid increases in the stock market and slightly lower gasoline prices. Minor improvements in employment levels also likely contributed positively to confidence.

The Employment Cost Index increased 0.3% in the first quarter of 2013, down from a downwardly revised 0.4% (from 0.5%) in the final quarter of 2012. The Briefing.com consensus expected employment costs to increase 0.5%.DJ30 +10.62 NASDAQ +19.78 SP500 +3.11 NASDAQ Adv/Vol/Dec 1445/975.9 mln/950 NYSE Adv/Vol/Dec 1800/299.1 mln/1112

12:30 pm : The S&P 500 trades flat after a brief appearance above yesterday's closing level. The early weakness occurred as the major averages fell to session lows shortly after the open when the Chicago PMI report missed expectations.

Although the broader market took a step back in reaction to the data, the tech sector continued to outperform, thus providing a measure of support for the late-morning rebound. The largest tech stock, Apple (AAPL 438.67, +8.55), is higher by 2.0% after reports indicated the company's first debt offering has received significant investor interest.DJ30 -16.39 NASDAQ +11.50 SP500 +0.04 NASDAQ Adv/Vol/Dec 1351/886.3 mln/1031 NYSE Adv/Vol/Dec 1672/273.4 mln/1225

12:00 pm : The past 30 minutes saw the S&P 500 climb into positive territory as tech shares pushed to fresh highs. Meanwhile, the Dow remains in the red as Pfizer (PFE 29.46, -0.97) weighs.

The underperformance of Pfizer has also pressured the health care sector, which is the weakest performer of the day.

Also of note, homebuilders trade broadly lower with the SPDR S&P Homebuilders ETF (XHB 30.29, -0.21) off by 0.7%.DJ30 -8.09 NASDAQ +10.73 SP500 +1.14 NASDAQ Adv/Vol/Dec 1327/801.1 mln/1030 NYSE Adv/Vol/Dec 1713/245.8 mln/1167

11:35 am : Little change has been observed in recent action as the major averages remain mixed. The Nasdaq trades with a slim gain of 0.3% as Apple (AAPL 439.12, +9.00) contributes to the relative strength of the index.

Not all cyclical groups are among today's leaders. The materials sector trades lower amid underperformance from gold miners. The Market Vectors Gold Miners ETF (GDX 29.16, -0.75) is down 2.6% while the broader SPDR Materials Select Sector ETF (XLB 39.40, -0.09) is off by 0.2%.DJ30 -17.93 NASDAQ +8.61 SP500 -0.29 NASDAQ Adv/Vol/Dec 1244/703.9 mln/1093 NYSE Adv/Vol/Dec 1570/221.2 mln/1266

11:00 am : The major averages trade in mixed fashion. The Nasdaq is higher by 0.1% while the Dow and S&P 500 continue to hover in the red. The outperformance of the tech heavy index is largely due to the relative strength of Apple (AAPL 436.17, +6.05) as the stock trades higher by 1.5% amid indications of strong demand for the company's first debt offering.

On the downside, the health care sector is the weakest performer as Pfizer (PFE 29.41, -1.02) weighs. Shares of the drug maker trade lower by 3.3% after the company missed on earnings and revenue.DJ30 -31.53 NASDAQ +5.67 SP500 -1.67 NASDAQ Adv/Vol/Dec 1168/549.1 mln/1138 NYSE Adv/Vol/Dec 1409/180.1 mln/1384

10:30 am : Commodities are taking a hit this morning despite the notable pullback in the dollar index.

June crude oil has been on a downslide and just fell as low as $93.30/barrel. In current trade, June crude is -1.1% at $93.50/barrel. Natural gas has been in the red all day so far and is now around the middle of the day's trading range. June nat gas is now -1% at $4.35/MMBtu.

Precious metals are mixed, while base metals are lower. June gold is currently +0.3% at $1472.20/oz and July silver is +0.2% at $24.21/oz. July copper is -1.4% at $3.18/lb and overnight on the LME, aluminum futures fell 1.1% at $1800/ton..DJ30 -71.34 NASDAQ -5.01 SP500 -5.82 NASDAQ Adv/Vol/Dec 991/431.5 mln/1264 NYSE Adv/Vol/Dec 1186/149 mln/1591

10:00 am : The major averages trade near their lows with the S&P 500 off by 0.3%.

The latest consumer confidence reading for April came in at 68.1, while economists polled by Briefing.com expected the survey to come in at 61.0. This follows the prior month's reading of 59.7.DJ30 -54.61 NASDAQ -3.77 SP500 -4.59 NASDAQ Adv/Vol/Dec 913/269.1 mln/1234 NYSE Adv/Vol/Dec 1093/102.2 mln/1578

09:45 am : The major averages trade in mixed fashion with the Dow Jones Industrial Average lower by 0.4% as Pfizer (PFE 29.67, -0.76) weighs after the drug maker's earnings and revenue both fell short of the Capital IQ consensus estimate.

Meanwhile, the Nasdaq trades with a slim gain thanks in part to the relative strength of its largest component. Apple (AAPL 437.12, +7.00) is higher by 1.6%.

In economic data, April Chicago PMI posted a reading of 49.0, which was worse than the 52.0 expected by the Briefing.com consensus.DJ30 -51.18 NASDAQ +0.30 SP500 -3.18 NASDAQ Adv/Vol/Dec 991/161.1 mln/1076 NYSE Adv/Vol/Dec 1145/72.8 mln/1472

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -1.70. Nasdaq futures vs fair value: -1.30. With 15 minutes to go before the start of today's session, equity futures are little changed. The S&P 500 futures trade with slim losses while Nasdaq futures are higher by about a point.

Earnings reaction will be in focus early after more than 100 companies covered by Briefing.com reported their quarterly results between yesterday's closing bell and today's open. Notably, Dow component Pfizer (PFE 29.52, -0.91) is lower by 3.0% after missing on earnings and revenue.

In today's economic data, the first quarter Employment Cost Index increased by 0.3% while the Briefing.com consensus expected a reading of +0.5%. Today's reading follows the prior quarter's increase of 0.5%.

In addition, the February Case-Shiller 20-city Home Price Index rose 9.3% while an 8.7% increase had been expected by the Briefing.com consensus. This follows the previous month's increase of 8.1%.

A busy morning of economic data will continue with the 9:45 ET release of the April Chicago PMI, which will be followed by the April Consumer Confidence report at 10:00 ET.

09:03 am : [BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -0.50.

U.S. equity futures continue to show little change.

It was a sea of green across Asia as all of the major averages, aside from Japan's Nikkei (-0.2%), saw gains. Australia's ASX (+1.3%) was the top performer for a second straight session as financials once again paced the advance. China's Shanghai Composite was closed for Labor Day. Data from the region saw Japan's household spending jump 5.2% year-over-year (1.8% expected) while preliminary industrial production (0.2% month-over-month actual versus 0.4% expected) and retail sales (-0.3% month-over-month actual versus 0.5% expected) missed. Elsewhere, Australia's private sector climbed a softer than expected 0.2% month-over-month (0.3% expected), South Korea's industrial production slid 3.0% year-over-year (1.8% expected), Taiwan's GDP fell 0.8% quarter-over-quarter, and Singapore's unemployment rate ticked up to 1.9% (1.8% previous).

In Japan, the Nikkei closed lower by 0.2%, but still managed to finish with its best April in 20 years. Robotics maker Fanuc tumbled 5.6% after announcing a disappointing outlook. Meanwhile, Nomura Holdings outperformed with a 4.1% advance after its better than expected results.
Hong Kong's Hang Seng added 0.7% to finish at their best level in seven weeks. European retailer Esprit paced the advance, posting a 3.4% gain, following an upgrade at UBS.
In China, the Shanghai Composite was closed for Labor Day.

European indices trade generally lower with Germany's DAX outperforming (+0.8%). Regional economic data was plentiful as German retail sales fell 2.8% year-over-year against the expectations of a 1.2% decline. Meanwhile, the Gfk Consumer climate rose to 6.2 from 6.0 (5.9 prior) while the unemployment rate held steady at 6.9%, in-line with expectations. Elsewhere, Italian unemployment remained unchanged at 11.5% while the consensus expected a reading of 11.7%. In Spain, Business Confidence was reported at -16 to follow the prior reading of -15 (-17 forecast). Also of note, Eurozone CPI was reported at a cooler-than-expected 1.2% (1.6% forecast) while the unemployment rate ticked up to 12.1%, in-line with expectations.

In news of note, a new government was installed in Italy after Enrico Letta received votes of confidence from both the Senate and the Chamber of Deputies.

Germany's DAX is higher by 0.8% with financials leading the way. Commerzbank and Deutsche Bank trade with respective gains of 6.0% and 3.7% after Deutsche Bank said it plans to raise more capital.
In the United Kingdom, the FTSE is off by 0.1% as miners and energy names weigh. Polymetal International is down 4.5% and Tullow Oil trades lower by 3.0%.
France's CAC is slipping 0.1% as materials and industrials underperform. ArcelorMittal is down 1.2% and Bouygues is slumping 4.9%.

In domestic economic news, the February Case-Shiller 20-city Home Price Index rose 9.3% while an 8.7% increase had been expected by the Briefing.com consensus. This follows the previous month's increase of 8.1%.

08:31 am : [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: -2.30. Equity futures remain little changed as the S&P 500 futures trade lower by 0.1%.

The first quarter Employment Cost Index increased by 0.3% while the Briefing.com consensus expected a reading of +0.5%. Today's reading follows the prior quarter's increase of 0.5%.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -1.50.

U.S. equity futures trade slightly lower amid generally downbeat overseas trade. The S&P 500 futures are off by 0.1%.

Looking at overnight developments:

Asian markets ended on a mixed note as Japan's Nikkei shed 0.2% while Hong Kong's Hang Seng rose 0.7%. Elsewhere, China's Shanghai Composite was closed for Labor Day.
Reviewing regional economic data:
New Zealand's business consents fell 9.1% month-over-month against the expectations of an uptick of 2.0%.
South Korean industrial production declined 3.0% year-over-year while the consensus expected a decline of 1.5%.
Japan's industrial production increased 0.2% month-over-month while the market expected a rise of 0.4%. Meanwhile, retail sales fell 0.3% year-over-year against the expectations of a 0.6% improvement. Lastly, the country's unemployment rate was reported at 4.1% (4.3% consensus).
In news:
Bank of Korea Governor Kim Choongsoo said the effectiveness of global quantitative easing policies is decreasing.

European indices trade generally lower with Germany's DAX outperforming, up 0.6%. Elsewhere, the United Kingdom's FTSE is off by 0.1% while France's CAC trades lower by 0.2%.
Regional economic data was plentiful:
German retail sales fell 2.8% year-over-year against the expectations of a 1.2% decline. Meanwhile, the Gfk Consumer climate rose to 6.2 from 6.0 (5.9 prior) while the unemployment rate held steady at 6.9%, in-line with expectations.
Italian unemployment remained unchanged at 11.5% while the consensus expected a reading of 11.7%.
In Spain, Business Confidence was reported at -16 to follow the prior reading of -15 (-17 forecast).
Eurozone CPI was reported at a cooler-than-expected 1.2% (1.6% forecast) while the unemployment rate ticked up to 12.1%, in-line with expectations.
Looking at news:
The new Italian government headed by Enrico Letta has received a vote of confidence in the lower house with the upper house expected to hold its vote today.

In U.S. corporate news:

Buffalo Wild Wings (BWLD 92.00, -2.33) is off by 2.5% after missing on earnings. In addition, the restaurant operator has received two downgrades following its bottom-line miss.
Pfizer (PFE 29.05, -1.38) is lower by 4.5% after the drug maker's earnings and revenue fell short of expectations.
Newmont Mining (NEM 33.35, -0.62) trades with a loss of 1.8% after missing on earnings and revenue.

The first quarter employment cost index will be reported at 8:30 ET while February Case-Shiller 20-city Index and April Chicago PMI will be released at 9:00 ET and 9:45 ET, respectively. The day's economic data will be topped off with the 10:00 ET release of April consumer confidence.

06:59 am : [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -4.00.

06:59 am : Nikkei...13860.86...-23.30...-0.20%. Hang Seng...22737.01...+156.20...+0.70%.

06:59 am : FTSE...6452.23...-5.80...-0.10%. DAX...7909.09...+35.80...+0.50%.

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
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