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 Post subject: April 3rd Wednesday Trade Results - Profit $4490
PostPosted: Wed Apr 03, 2013 5:27 pm 
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Joined: Sat Jan 10, 2009 2:06 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)

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040313-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+4490.00.png
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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 @ $2460.00 dollars or +24.60 points, Light Crude Oil CL ($CL_F) futures @ $1690.00 dollars or +1.69 points, Gold GC ($GC_F) futures @ $340.00 dollars or +3.40 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 @ $4490.00 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 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=1475

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 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.

Stocks Slide On North Korea Fears, Fed Comments

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

NEW YORK (CNNMoney)
A sell-off on Wall Street gained momentum into the close Wednesday on rising worries over North Korea and comments that the Fed could start pulling back on its stimulus program this summer.

Earlier in the day, a weaker-than-forecast report about private sector job growth and sluggish growth in the services sector weighed on stocks.

The Dow Jones industrial average and S&P 500, which both finished at record highs a day earlier, slipped 0.8% and 1.1%, respectively. The Nasdaq also fell more than 1%.

North Korea threat: Investors were rattled after the Department of Defense announced that it was sending a land-based missile defense system to Guam to defend against possible North Korean ballistic missile launches.

Speaking at the National Defense University, Defense Secretary Chuck Hagel said North Korea presents "a real and clear danger and threat" to the United States.

"We are doing everything we can, working with the Chinese, others, to defuse that situation on the peninsula," said Hagel.

Fed ready to end bond buying? Investors also took a step back after San Francisco Federal Reserve Bank president John Williams said that if the economy improves, as he suspects it will, the Fed could start tapering its bond purchase program.

Williams said he expects to continue seeing a substantial improvement in the job market by this summer.

"If all goes as hoped, we could end the purchase program sometime late this year," Williams said, speaking in Los Angeles.

The Fed's stimulus measures, including its commitment to low interest rates and several rounds of bond buying, have been largely credited for fueling the stock market rally.

All about jobs: Payroll processing firm ADP reported Wednesday that the U.S private sector added 158,000 jobs in March. That was weaker than expected and comes just days ahead of the government's closely watched monthly jobs report.

On Friday, the Labor Department is slated to release the March jobs report ahead of the opening bell. Analysts expect the economy to have added 192,000 jobs last month, according to Briefing.com.

Meanwhile, the Institute for Supply Management's monthly report on growth in the service sector was also disappointing. The ISM Services index came in at 54.4 for March, marking the weakest pace of growth in seven months.

Related: Fear & Greed index nudging closer to extreme greed

What's moving: Shares of Zynga (ZNGA) shot up almost 15% after the online gaming firm announced it would soon launch its first real money games -- ZyngaPlusPoker and ZyngaPlusCasino -- in the U.K..

Monsanto (MON, Fortune 500) shares rose after the company's profit and earnings topped expectations on strong sales of its biotech seeds.

Shares of ConAgra (CAG, Fortune 500) declined after the food producer said its quarterly profit tumbled 57% due to costs associated with its acquisition of Ralcorp.

J.C. Penney's (JCP, Fortune 500) shares edged lower. The company disclosed late Tuesday that it had slashed the pay of CEO Ron Johnson and other executives as the retailer continues to struggle.

Tesla (TSLA) shares dropped more than 7% as investors were underwhelmed by the electric car maker's announcement of a new financing option for buyers.

Keep track of CNNMoney's Hot Stocks

European markets finished lower, while Asian markets ended mixed. The Shanghai Composite and the Hang Seng lost 0.1%.

Meanwhile, the Nikkei added 3% as the Bank of Japan was expected to announce deflation fighting measures in its first meeting under the leadership of Haruhiko Kuroda.

The dollar declined against the euro, the British pound and the Japanese yen.

Oil and gold prices dropped more than 1%.

The price on the 10-year Treasury yield rose, pushing the yield down to 1.81% from 1.86% late Tuesday.

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4:20 pm : The S&P 500 spent today's session in a steady decline before settling lower by 1.1%. Notably, small cap stocks extended their recent weakness as indicated by a 1.7% decline in the Russell 2000. Including today's weakness, the small cap index is down more than 3.0% since Monday's open.

However, the small cap index was not the only casualty of today's selling. Growth-oriented sectors pressured the broader market from the open as financials and energy led to the downside.

The financial sector ended as the biggest laggard. Citigroup (C 42.50, -1.61) was the weakest performer among the majors, and the broader SPDR Financial Select Sector ETF (XLF 17.92, -0.30) fell 1.7%.

Elsewhere, the energy sector was pressured by a notable drop in the price of crude oil. The energy component slid 2.9% to $94.41. In response, the SPDR Energy Select Sector ETF (XLE 77.23, -1.47) lost 1.9%.

Commodity-related stocks in the materials space also finished among the biggest decliners. The SPDR Materials Select Sector ETF (XLB 38.14, -0.32) dropped 0.8%, and the sector ETF is down almost 5.0% since March 14.

The continued global growth concerns were also reflected by the price of copper, which fell 1.5% to $3.327 per pound, its lowest level since early August.

While today's selling weighed on all ten sectors, two groups which were key to the first quarter rally, registered wider losses than the broader market.

The Dow Jones Transportation Average finished lower by 1.3% with airlines leading the decline. Delta Air Lines (DAL 14.56, -0.38) and United Continental (UAL 28.66, -0.72) both lost 2.5%.

Today marked the third consecutive session which saw the bellwether complex end with a loss of at least 1.0%. In addition, the 20-stock group ended the day on its 50-day moving average. The index has not closed below this closely-watched indicator since November 21.

Homebuilders also saw outsized losses and the SPDR S&P Homebuilders ETF (XHB 28.52, -0.83) slid 2.8%. Today's selling also caused the homebuilders ETF to end below its 50-day average, and down 5.0% on the week.

Also of note, the recent saber-rattling out of North Korea continued today with reports indicating the North Korean army has received the approval for a nuclear attack on the United States. Although the headline crossed late this afternoon, defense-related stocks outperformed throughout the session. The PHLX Defense Sector Index ended with a loss of just 0.3%.

Today's volume was well above average as more than 810 million shares changed hands on the floor of the New York Stock Exchange.

Reviewing today's final sector performance, financials (-1.7%), energy (-1.6%), consumer staples (-1.1%), and consumer discretionary (-1.0%) ended as the weakest sectors. Meanwhile, utilities (-0.3%), health care (-0.6%), and industrials (-0.7%) outperformed the broader market.

Looking back at today's economic data, the weekly MBA Mortgage Applications fell 4.0% to follow last week's rise of 7.7%.

According to today's ADP National Employment Report, employment in the nonfarm private business sector rose by 158K in March. This was below the increase of 197K expected by the Briefing.com consensus.

The ISM Non-manufacturing index softened in March, falling from 56.0 in February to 54.4. The Briefing.com consensus expected the index to drop to 55.5.

Tomorrow, March Challenger Job Cuts will be reported at 7:30 ET while initial and continuing claims will be announced at 8:30 ET.

In addition, the Bank of Japan and the European Central Bank are both scheduled to announce their latest interest rate decisions.DJ30 -111.66 NASDAQ -36.26 SP500 -16.56 NASDAQ Adv/Vol/Dec 572/1.76 bln/1891 NYSE Adv/Vol/Dec 649/811.4 mln/2358

3:35 pm : Commodities continued to struggle today, despite weakness in the dollar index.

May crude oil extended losses following the weekly inventory data and ultimately ended the day 2.8% lower at $94.49/barrel. Natural gas futures trended lower for most of the day, finishing 1.8% lower at $3.90/MMBtu.

Precious metals sold off this morning, bottoming early on in the afternoon session. June gold fell as low as $1550.70/oz, while May silver fell as low as $26.74/oz. June gold lost $23 to $1553.30/oz and May silver fell $0.45 to $26.80/oz.DJ30 -118.30 NASDAQ -41.17 SP500 -18.53 NASDAQ Adv/Vol/Dec 624/1436.5 mln/1834 NYSE Adv/Vol/Dec 621/519 mln/2374

3:00 pm : Heading into the final hour of action, the S&P 500 is down 0.9%. All ten sectors trade lower as a result of today's selling, but growth-sensitive groups have faced the bulk of the pressure.

Energy and financials are both down in excess of 1.5% and the materials sector is a notable laggard as well. The SPDR Materials Select Sector ETF (XLB 38.16, -0.30) is off by 0.8%, and is down 4.5% since March 14. As a result of that soft patch, the materials sector has trimmed its year-to-date gain to 1.3%. Meanwhile, the S&P 500 has gained 9.1% so far in 2013.DJ30 -80.34 NASDAQ -31.48 SP500 -13.56 NASDAQ Adv/Vol/Dec 667/1.27 bln/1776 NYSE Adv/Vol/Dec 694/461.1 mln/2310

2:30 pm : Equities continue to face notable selling pressure and the S&P 500 is lower by 1.1%. With 90 minutes left in the session, today's biggest laggards are also trading near their lows. Energy and financials remain as the two weakest groups with both down near 1.5%.

In the financial sector, Bank of America (BAC 11.76, -0.39) is the weakest performer among big banks while the SPDR Financial Select Sector ETF (XLF 17.92, -0.31) trades lower by 1.7%.

Today's broad-based selling has also translated into a safety bid across the Treasury complex, dropping the 10-yr yield five basis points to 1.81%.DJ30 -106.60 NASDAQ -38.01 SP500 -16.68 NASDAQ Adv/Vol/Dec 609/1.19 bln/1830 NYSE Adv/Vol/Dec 619/427.2 mln/2380

2:05 pm : Recent trade saw the S&P 500 continue its session-long slide. The benchmark average is now lower by 1.1% with five of ten sectors trading with losses larger than 1.0%. Energy and financials remain as the two weakest performers with the sectors trading on their respective lows.

After making a brief appearance in positive territory, the SPDR Utilities Select Sector ETF (XLU 39.10, -0.04) has slid back to its session lows. The ETF is now off by 0.1%, and is the best performing sector ETF.

In addition, the S&P 500 notched its recent lows amid reports indicating the United States is sending a missile defense battery to Guam. This follows the increased war rhetoric coming out of North Korea in recent weeks.DJ30 -110.00 NASDAQ -41.62 SP500 -17.39 NASDAQ Adv/Vol/Dec 579/1.11 bln/1829 NYSE Adv/Vol/Dec 603/391.8 mln/2401

1:30 pm : The major averages continue to hover near their lows with the S&P 500 off by 0.9%. Although the broader market remains on session lows, the utilities sector has been able to climb into positive territory. Although the defensively-minded utilities trade with slim gains, all other sectors remain firmly in the red.

Similar to the broader market, today's weakest sectors, energy and financials, continue to trade on their lows. The two sectors are both down 1.5%.

With the broader market on its lows, the CBOE Volatility Index (VIX 13.51, +0.73) is near its best level of the day.DJ30 -76.71 NASDAQ -29.47 SP500 -13.59 NASDAQ Adv/Vol/Dec 693/980.2 mln/1705 NYSE Adv/Vol/Dec 652/346.5 mln/2311

1:05 pm : The S&P 500 trades lower by 0.8% after spending the first half of today's session in a steady slide off its opening levels.

With the broader market on its lows, growth-sensitive names have suffered the widest losses of the day.

The energy sector is the weakest performer, and the SPDR Energy Select Sector ETF (XLE 77.40, -1.30) trades lower by 1.7%. Crude oil has contributed to the selling with the energy component off by 2.2% to $95.07.

In addition to energy, financials have shown weakness out of the gate, with significant underperformance coming from the majors. Bank of America (BAC 11.76, -0.39) and Goldman Sachs (GS 143.41, -3.27) trade with respective losses of 3.1% and 2.2% while the broader SPDR Financial Select Sector ETF (XLF 17.97, -0.26) is down 1.4%.

Elsewhere, producers of basic materials continue to face steady selling as global growth concerns remain at the forefront. The SPDR Materials Select Sector ETF (XLB 38.13, -0.33) is down 0.9%.

Notably, two groups which paced the first quarter rally, homebuilders and transports, have been unable to escape the recent selling pressure.

The Dow Jones Transportation Average trades in the red for the third consecutive session, sporting a loss of 0.9%, as airlines lead to the downside. Delta Air Lines (DAL 14.31, -0.63) and United Continental (UAL 28.38, -1.00) are down 4.2% and 3.4%, respectively.

Meanwhile, the SPDR S&P Homebuilders ETF (XHB 28.58, -0.77) is off by 2.6%. Including today's losses, the homebuilders ETF is down more than 4.5% since last Wednesday, and now trades below its 50-day moving average.

Looking back at today's economic data, the weekly MBA Mortgage Applications fell 4.0% to follow last week's rise of 7.7%.

According to today's ADP National Employment Report, employment in the nonfarm private business sector rose by 158K in March. This was below the increase of 197K expected by the Briefing.com consensus.

The ISM Non-manufacturing index softened in March, falling from 56.0 in February to 54.4. The Briefing.com consensus expected the index to drop to 55.5.DJ30 -68.57 NASDAQ -25.89 SP500 -12.24 NASDAQ Adv/Vol/Dec 730/897.1 mln/1650 NYSE Adv/Vol/Dec 712/314.3 mln/2220

12:30 pm : The S&P 500 is off by 0.7% as the index continues to hover near its session lows. Sellers have been active today with the benchmark average unable to stage a significant bounce.

In addition to the broader market, the day's two weakest sectors, energy and financials, have also shown the inability to rebound off their lows. Both groups are now down at least 1.2%.

Lastly, the Russell 2000, which tracks small cap stocks, is down 1.1% today, and down near 3.0% since Thursday's close.DJ30 -66.01 NASDAQ -21.05 SP500 -11.12 NASDAQ Adv/Vol/Dec 770/804.2 mln/1600 NYSE Adv/Vol/Dec 719/284.8 mln/2197

12:00 pm : Equities continue to trade firmly lower and the S&P 500 is down 0.6%. Energy and financials have shown the most weakness in early action, and the two sectors are both down near 1.0%.

Notably, small cap stocks continue to underperform the broader market. Today, the Russell 2000 is down 1.0%, and the small cap index is off by almost 3.0% since Thursday's close. The recent weak patch also caused the index to slip to its 50-day moving average, where it currently trades.DJ30 -51.45 NASDAQ -15.65 SP500 -8.92 NASDAQ Adv/Vol/Dec 773/716.2 mln/1590 NYSE Adv/Vol/Dec 742/253.5 mln/2144

11:30 am : Recent trade saw the S&P 500 slide to fresh lows. The benchmark average is now down 0.6%, and the financial sector remains as the biggest laggard. In addition to financials, other growth-sensitive sectors are also among the weakest performers.

Notably, the Dow Jones Transportation Average is trading lower for the third consecutive session. The bellwether complex is down 1.1% with 17 of 20 components in the red. Railroads are leading the transportation group to the downside with Kansas City Southern (KSU 103.49, -2.34) and Union Pacific (UNP 139.51, -1.31) down 2.1% and 0.9%, respectively.

Elsewhere, homebuilders are also showing significant softness with the SPDR S&P Homebuilders ETF (XHB 28.73, -0.62) down 2.1%. Including today's losses, the homebuilders ETF is down more than 4.5% since last Wednesday, and it now trades below its 50-day moving average.DJ30 -58.94 NASDAQ -16.93 SP500 -9.55 NASDAQ Adv/Vol/Dec 754/622.2 mln/1570 NYSE Adv/Vol/Dec 729/217.3 mln/2155

11:00 am : Equities continue to trade in the red with the S&P 500 lower by 0.5%. After opening the session just above yesterday's closing levels, the benchmark average has declined steadily through the first 90 minutes of action.

The financial sector is the biggest laggard with notable underperformance from the majors. Bank of America (BAC 11.85, -0.30) and Goldman Sachs (GS 143.76, -2.92) trade with respective losses of 2.5% and 2.0% while the broader SPDR Financial Select Sector ETF (XLF 18.04, -0.18) is off by 1.0%.

In addition to financials, other growth-oriented sectors can also be found among the weakest performers of the day. Notably, the materials space continues to show considerable softness with global growth concerns remaining in place. The SPDR Materials Select Sector ETF (XLB 38.27, -0.19) is lower by 0.5%.DJ30 -50.13 NASDAQ -10.84 SP500 -8.15 NASDAQ Adv/Vol/Dec 821/506.3 mln/1486 NYSE Adv/Vol/Dec 763/176.2 mln/2040

10:35 am : Commodities are mixed this morning despite the persistent weakness in the dollar index.

Crude oil has been in the red all session and hit a new session low of $96.35/barrel, just ahead of the weekly inventory data. Following the inventory data, May crude extended losses and hit a new session low of $96.08/barrel. In current trade, May crude is -1.1% at $96.12/barrel.

Natural gas futures sold off earlier, falling as low as $3.93. May natural gas is now -0.3% at $3.96/MMBtu.

Precious metals put in current session lows in the overnight session and have trended high since. Both gold and silver futures are now back near the unchanged level. Base metal copper, however, has been in the red all morning and is currently near its session low.

Currently, June gold is -0.3% at $1570.50/oz, May silver is -0.7% at $27.07/oz and May copper is -0.6% at $3.36/lb.DJ30 -41.24 NASDAQ -10.31 SP500 -6.98 NASDAQ Adv/Vol/Dec 794/403.7 mln/1465 NYSE Adv/Vol/Dec 801/145 mln/1999

10:00 am : The major averages slipped to fresh lows in reaction to the latest ISM Services report. The S&P 500 is off by 0.3%.

The March ISM Services Index was reported at 54.4, below the 55.5 forecast by the Briefing.com consensus, and down from February's reading of 56.0.DJ30 -30.29 NASDAQ -5.95 SP500 -5.14 NASDAQ Adv/Vol/Dec 867/235.1 mln/1278 NYSE Adv/Vol/Dec 905/95.1 mln/1804

09:50 am : After climbing slightly higher in the opening minutes, the S&P 500 has slid into the red. The benchmark index trades lower by 0.2% with financials as the weakest group in the early going. In addition to financials, consumer staples, energy, and health care are among the biggest laggards.

On the upside, technology and utilities trade with slim gains.

In today's economic data, the March ADP Employment report pointed to an addition of 158,000 nonfarm private business jobs while the Briefing.com consensus expected an increase of 197,000.

The day's final economic report, March ISM Services, will be released at 10:00 ET.DJ30 -24.19 NASDAQ -1.28 SP500 -3.71 NASDAQ Adv/Vol/Dec 959/156.9 mln/1117 NYSE Adv/Vol/Dec 1095/70.2 mln/1565

09:17 am : [BRIEFING.COM] S&P futures vs fair value: +1.60. Nasdaq futures vs fair value: -0.30. Heading into the open, equity futures trade in mixed fashion. The S&P 500 futures remain higher by 0.1% after slipping from their earlier highs. The earlier stumble took place after the ADP Employment report indicated 158,000 nonfarm private business jobs were added in March. The Briefing.com consensus expected the reading to come in at 197,000.

While the S&P 500 futures continue to trade with slim gains, that is not the case in overseas markets. European indices are broadly lower with growth-sensitive financials and construction names underperforming. The growth concerns remain front-and-center in Europe with today's comments from the Italian Treasury suggesting 2013 GDP is now expected to shrink by an additional 1.5%.

March ISM Services will be reported at 10:00 ET.

09:00 am : S&P futures vs fair value: +0.90. Nasdaq futures vs fair value: -0.50.

U.S. equity futures trade in mixed fashion with the S&P 500 futures flat.

The major Asian bourses ended mostly lower, but Japan's Nikkei (+3.0%) outperformed as the Bank of Japan's two-day meeting got underway. Comments from BoJ Governor Kuroda once again reiterated the need for bold action with reports suggesting the aggressive asset purchase program will get underway in January 2014. The Bank of Thailand opined overnight, opting to hold its key rate steady at 2.75%, as expected. Data from the region saw Chinese Non-Manufacturing climb to 55.6 (54.5 previous), and Australia's trade deficit narrow to AUD0.18 billion (AUD1.00 billion expected, AUD1.22 billion previous) while its HIA New Home Sales sank 5.3% month-over-month.

In Japan, the Nikkei closed higher by 3.0% as markets rallied on hopes the Bank of Japan will launch the bold measures promised by Governor Kuroda. Fast Retailing was the top performer, surging 10.7%, after same store sales posted a 23.1% year-over-year advance. Meanwhile, shares of telecom provider Softbank jumped 5.0% after analyst comments suggested the name was overdone to the downside.
Hong Kong's Hang Seng shed 0.1% as trade fluctuated between gains and losses. A mixed session saw Industrial & Commercial Bank tack on 0.2% after the company announced it was taking a 20% stake in a Taiwanese bank.
In China, the Shanghai Composite slipped 0.1% amid a quiet holiday trade. Oil giant Cnooc was a laggard, giving up 0.9%.

European indices trade broadly lower with peripheral markets underperforming. Looking at economic data, the United Kingdom's construction PMI rose to 47.2 from the prior month's 46.8 (47.5 consensus). Eurozone CPI rose 1.7% year-over-year while the consensus expected an increase of 1.6%. Norwegian Manufacturing PMI of 50.1 was reported ahead of the 49.0 expected by the market.

The Italian Treasury said it expects the country's 2013 GDP contraction to be worse than last month's government forecast by about 1.5%.

In Germany, the DAX is off by 0.1% with ThyssenKrupp as the biggest laggards. The steelmaker trades lower by 2.4%. On the upside, tire producer Continental trades higher by 1.9%.
In the United Kingdom, the FTSE is down 0.4%. Insurers RSA Insurance and Standard Life are down 4.7% and 6.2%, respectively. In addition, miners have shown notable weakness. Eurasian Natural Resources trades lower by 5.1%.
France's CAC is shedding 0.4% amid broad weakness. France Telecom is the weakest index component, down 4.4%.
On the periphery, Italy's MIB is off by 1.4% and Spain's IBEX is down 1.2%. In Italy, financials are among the biggest laggards while construction names have pressured the Spanish market.

08:27 am : [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: -1.30. The S&P 500 futures slid back to their unchanged level following the release of the latest ADP Employment Change.

According to today's ADP National Employment Report, employment in the nonfarm private business sector rose by 158K in March. This was below the increase of 197K expected by the Briefing.com consensus.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +1.50.

U.S. equity futures trade slightly higher despite downbeat overseas trade. The S&P 500 futures are higher by 0.2%.

Looking at overseas developments:

Asian markets ended on a mixed note. China's Shanghai Composite and Hong Kong's Hang Seng shed 0.1% each while Japan's Nikkei gained 3.0%.
In regional economic data:
China's Non-manufacturing PMI rose to 55.6 from the previous month's 54.5. Meanwhile, the HSBC Services PMI came in at 54.3 to follow last month's 52.1.
Australia's trade deficit of AUD178 million was better than the expected deficit of AUD1.00 billion.
Looking at news:
As part of measures aimed at curbing the rapidly rising property prices, Beijing officials have introduced a 20% capital gains tax gain on property sellers.
The Nikkei News suggested the Bank of Japan will look into stepping up its purchases of longer-term government debt. The Bank of Japan will hold its first policy meeting under Haruhiko Kuroda tomorrow.

European indices trade broadly lower with peripheral markets underperforming. Germany's DAX is off by 0.2% while France's CAC and the United Kingdom's FTSE are both down 0.5%. Elsewhere, Italy's MIB is lower by 1.7% and Spain's IBEX is off by 1.1%.
Looking at economic data:
The United Kingdom's construction PMI rose to 47.2 from the prior month's 46.8 (47.5 consensus).
Eurozone CPI rose 1.7% year-over-year while the consensus expected an increase of 1.6%.
Norwegian Manufacturing PMI of 50.1 was reported ahead of the 49.0 expected by the market.
In news:
The Italian Treasury said it expects the country's 2013 GDP contraction to be worse than last month's government forecast by about 1.5%.
European markets trade lower with financials and commodity names responsible for the bulk of the weakness.

In U.S. corporate news:

Caterpillar (CAT 83.85, -1.03) is lower by 1.2% following a Goldman Sachs downgrade to 'Neutral' from 'Buy.'
ConAgra (CAG 34.76, -0.78) is down 2.2% after missing on earning s and revenue. In addition, the company issued in-line full-year 2013 earnings guidance.

The weekly MBA Mortgage Applications fell 4.0% to follow last week's rise of 7.7%.

March ADP Employment Change and ISM Services will be released at 8:15 ET and 10:00 ET, respectively.

06:45 am : [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +1.00.

06:45 am : Nikkei...12362.20...+358.80...+3.00%. Hang Seng...22337.49...-30.30...-0.10%.

06:45 am : FTSE...6461.15...-29.60...-0.50%. DAX...7932.87...-11.00...-0.10%.

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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