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 Post subject: April 4th Thursday Trade Results - Profit $2360
PostPosted: Fri Apr 05, 2013 7:13 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Attachment:
040413-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2360.00.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 @ $1350.00 dollars or +13.50 points, Light Crude Oil CL ($CL_F) futures @ $1010.00 dollars or +1.01 points, Gold GC ($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 @ $2360.00 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=1476

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

Price Action Trading Definition @ http://www.thestrategylab.com/price-action-trading.htm

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 Finish Higher

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

NEW YORK (CNNMoney)
Stocks closed higher Thursday amid a mixed bag of news from central banks around the globe.

The Dow Jones Industrial Average, the S&P 500 and the Nasdaq closed up between 0.2% and 0.4%, after spending much of the day on either side of breakeven.

Japan's central bank started the day with an announcement that it would expand its stimulus program in an effort to breathe life into the country's flagging economy.

The news was welcomed by investors. Japan's Nikkei reversed early losses and closed 2.2% higher, the yen weakened against the dollar, and the yield on Japanese 10-year notes fell to their lowest level since 2003.

Next up: the Bank of England left rates at 0.5% and maintained its asset purchasing program. And finally, the European Central Bank also kept rates steady at 0.75%.

"Central banks, central banks, central banks. That's what people are watching," said Paul Powers, head of trading at Raymond James. "Japan delivered, but the ECB fell flat."

ECB president Mario Draghi's comments were seen as leaving the door open to further stimulus but investors were disappointed that the central bank didn't do more in the face of weakening economic trends in the eurozone.

Federal Reserve vice chair Janet Yellen is delivering a speech at 5 p.m. ET at a Society of American Business Editors and Writers conference in Washington.

* Fear & Greed index edges into neutral

Weak U.S. economic data: The Labor Department said that initial jobless claims rose to 385,000 last week. That's more than the 345,000 analysts had expected and comes one day ahead of the government's closely watched monthly jobs report.

Economists expect 192,000 jobs to have been added in March, according to Briefing.com.

Major stock movers: Shares of Best Buy (BBY, Fortune 500) surged 16%, after the retailer announced that it will feature boutique stores that sell Samsung products at more than 1,400 U.S. locations.

Lululemon Athletic (LULU) said its chief product officer, Sheree Waterson, was leaving, effective April 15. The announcement comes after Lululemon issued a recall last month of unintentionally see-through yoga pants. Shares of the apparel maker moved higher

Shares of Carnival Corp. (CCL) slumped 1.5%, a day after the troubled cruise liner's Triumph broke free of its dock in Mobile, Ala.

Facebook (FB) unveiled Facebook Home, a new Android smartphone interface at an event. Shares of the social network rose 3%.

* Bitcoin ATMs coming soon

European markets closed down between 0.7% and 1.2%. Exchanges in Hong Kong and Shanghai were closed for a holiday.

The dollar lost ground against the euro and the British pound. Gold prices dipped.

Oil prices declined for the second day in a row, dropping 1% on a combination of factors: a large inventory build-up and signs of weakness in the global economy.

The price on the 10-year Treasury yield rose, pushing the yield down to 1.78% from 1.81% late Wednesday.

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4:20 pm : Equities began the day on a mixed note with the S&P 500 climbing out of the gate while Nasdaq slipped into the red, where it spent the majority of today's session.

Although the S&P saw early gains, the index notched its highs within the opening minutes, before sliding into negative territory. However, afternoon buying pulled the S&P out of the red, and the index ended with a gain of 0.4%.

After Wednesday's selloff caused the benchmark average to slide 1.1%, a handful of yesterday's underperformers began among today's leaders. The early leadership did not hold into the afternoon as some defensive sectors began appearing atop the leaderboard.

Counter-cyclical telecoms and utilities climbed throughout the day, and saw the largest gains. In addition, a rebound in financials and materials helped those two groups outperform the broader market.

Although the financial sector ended with firm gains, major components saw mixed performance. Goldman Sachs (GS 142.99, -0.42) shed 0.3% while JPMorgan Chase (JPM 47.49, +0.64) rose 1.4%.

Despite today's gains, financials remain one of the weakest sectors in April. The SPDR Financial Select Sector ETF (XLF 18.08, +0.16) is down 0.7% since April 1.

Elsewhere, the SPDR Materials Select Sector ETF (XLB 38.47, +0.33) climbed 0.9% amid strength in gold miners. The Market Vectors Gold Miners ETF (GDX 35.22, +0.97) advanced 2.8%.

Even though materials finished among today's leaders, the sector is the second weakest performer in April, trailing behind energy. The energy space shed 0.2% during today's session as crude oil slipped 1.3% to $93.25 per barrel.

While financials and materials were able to rebound from yesterday's selloff, that was not the case for the Dow Jones Transportation Average. After losing more than 1.0% in each of the past three sessions, the bellwether complex ended little changed as railroads pressured the 20-stock group. CSX (CSX 23.77, -0.18) and Norfolk Southern (NSC 73.86, -1.30) saw respective losses of 0.8% and 1.7% after an analyst report suggested carriers will report disappointing first quarter rail volume.

On the downside, weakness among major tech names like Apple (AAPL 427.72, -4.27), Google (GOOG 795.07, -11.13), and International Business Machines (IBM 211.31, -1.35) weighed on the sector. Meanwhile, the tech-heavy Nasdaq ended with a gain of just 0.2%.

Despite the broader market ending in positive territory, a safety bid across the Treasury complex sent the 10-yr yield lower by five basis points to 1.76%. Also notable was the 30-yr yield finishing below 3.00% for the first time in 2013.

Today's volume was largely in-line with Monday's total as just over 645 million shares changed hands on the floor of the New York Stock Exchange.

Looking back at the final sector performance, telecom (+1.3%), utilities (+0.9%), financials (+0.9%), and materials (+0.8%) outperformed the broader market. Meanwhile, technology (-0.2%) and energy (-0.1%) settled in the red.

Today's economic data focused on jobs. The initial claims level jumped to 385,000 for the week ending March 30 from 357,000 for the week ending March 23. The Briefing.com consensus expected the initial claims level to fall to 345,000.

The increase in claims was not the result of a sudden softening in labor market conditions. The seasonal adjustments used by the Department of Labor have a difficult time accounting for the Easter holiday. Because the Easter holiday falls on a different date each year, the seasonal adjustments from one year to the next cannot adequately explain seasonal employment fluctuations from Easter-related hiring and firing.

Tomorrow morning will be busy in terms of economic news. March nonfarm payrolls, nonfarm private payrolls, unemployment rate, hourly earnings, average workweek, and February trade balance will all be reported at 8:30 ET. The busy day will be topped off by a 15:00 ET release of February consumer credit.DJ30 +55.76 NASDAQ +6.38 SP500 +6.29 NASDAQ Adv/Vol/Dec 1552/1.42 bln/862 NYSE Adv/Vol/Dec 1836/646.9 mln/1106

3:30 pm :

May crude oil extended yesterday's losses following this morning's jobless claims data. The energy component brushed a session low of $92.12 per barrel in afternoon pit action and eventually settled with a 1.3% loss at $93.25 per barrel.
May natural gas initially popped to a session high of $3.98 per MMBtu on inventory data that showed a draw of 94 bcf when a draw of 91-92 bcf was anticipated but then tumbled into the red and to a session low of $3.86 per MMBtu. Despite the dip, natural gas recovered back into positive territory and settled 1.0% higher at $3.94 per MMBtu.
June gold lifted off its session low of $1543.70 per ounce following the jobless claims data and dovish comments from ECB President Mario Draghi. A slight rally heading into the close helped erase most of earlier losses leaving gold to settle nearly flat at $1552.60 per ounce.
May silver also chopped around slightly below the breakeven level. It dipped to a session low of $26.58 per ounce in morning floor action and settled at $26.75 per ounce, or 0.2% lower.

DJ30 +34.33 NASDAQ -0.29 SP500 +3.78 NASDAQ Adv/Vol/Dec 1385/1181.4 mln/1006 NYSE Adv/Vol/Dec 1685/427 mln/1244

3:00 pm : Heading into the final hour of action, the major averages continue to register slim gains. The S&P 500 is higher by 0.3% with the counter-cyclical telecom space leading the way.

In addition to telecoms, the materials sector trades firmly higher after underperforming notably in recent days. The SPDR Materials Select Sector ETF (XLB 38.46, +0.33) is higher by 0.8%.

Although the major averages remain in positive territory, a safety bid across the treasury complex sent the 10-yr yield lower by five basis points to 1.76%, its lowest level of the year.DJ30 +36.89 NASDAQ -0.79 SP500 +3.82 NASDAQ Adv/Vol/Dec 1345/1.06 bln/1050 NYSE Adv/Vol/Dec 1662/383.8 mln/1264

2:30 pm : After notching fresh afternoon highs, the S&P 500 is firmer by 0.3%.

Although many of yesterday's underperformers find themselves among today's leaders, the Dow Jones Transportation Average has not participated in that rebound.

The Transportation Average has been one of the leaders of the broad market rally since mid-November. However, the bellwether complex has endured some recent weakness resulting in three consecutive declines of at least 1.0%.

While some of the recent underperformers trade ahead of the broader market, Dow Transports remain pressured. Today, railroads are among the weakest components after an analyst report suggested carriers will report disappointing first quarter rail volume. CSX (CSX 23.71, -0.24) and Norfolk Southern (NSC 73.66, -1.50) trade with respective losses of 1.0% and 2.0%DJ30 +55.20 NASDAQ +3.89 SP500 +5.40 NASDAQ Adv/Vol/Dec 1393/986.8 mln/995 NYSE Adv/Vol/Dec 1705/357.1 mln/1221

2:00 pm : Recent trade saw the S&P 500 bounce off its flat line. Although the index trades higher by 0.2%, it remains well off its session highs.

Elsewhere, the Nasdaq has climbed into the black after spending the bulk of the early action in negative territory. Chipmakers have added to their earlier strength and the PHLX Semiconductor Index now trades with a gain of 1.1%.

Although microchip manufacturers continue to build on their relative strength, major sector components remain pressured. Apple (AAPL 429.00, -2.99) is down 0.7% and Google (GOOG 794.11, -12.09) is off by 1.5%.DJ30 +34.02 NASDAQ +0.41 SP500 +2.98 NASDAQ Adv/Vol/Dec 1354/899.8 mln/1038 NYSE Adv/Vol/Dec 1635/327.6 mln/1275

1:30 pm : The major averages continue to trade near their lows with the S&P 500 showing no change. Meanwhile, the Nasdaq is off by 0.2% as the technology sector remains as one of the weakest performers of the day.

In addition to technology, energy stocks trade firmly lower amid a 1.8% decline in the price of crude oil The energy component now trades near $92.70.

Also of note, health care stocks began the day firmly higher, but the sector has declined steadily since the opening minutes. The SPDR Health Care Select Sector ETF (XLV 46.52, +0.06) is higher by 0.1% after being up 1.0% at the open.DJ30 +6.06 NASDAQ -5.52 SP500 +0.62 NASDAQ Adv/Vol/Dec 1229/818.5 mln/1143 NYSE Adv/Vol/Dec 1472/301.4 mln/1412

1:00 pm : The S&P 500 is little changed as equities struggle to hold the flat line. The index is attempting to rebound from yesterday's selloff, which sent it lower by 1.1%.

Although today's action is being led by defensively-minded sectors, some growth-oriented spaces also trade ahead of the broader market.

However, the relative strength of financials and materials is likely the result of investors looking to snap up recently beaten-down names.

The SPDR Financial Select Sector ETF (XLF 17.98, +0.06) trades higher by 0.3%, with mixed performance from major components. Goldman Sachs (GS 142.63, -0.78) is off by 0.5% while Wells Fargo (WFC 37.05, +0.38) is firmer by 1.0%.

The mixed performance of major bank stocks suggests market participants are showing some indecision with regards to one of the weaker sectors in April. Including today's gain, the financial sector ETF is down 1.2% month-to-date.

Meanwhile, producers of basic materials began the session as the strongest group before halving their early gains. Similar to financials, the materials space has been a notable laggard so far this month. The SPDR Materials Select Sector ETF (XLB 38.38, +0.24) is down over 2.0% month-to-date despite trading higher by 0.6% today.

On the downside, the significant weakness of the technology sector has kept the tech-heavy Nasdaq in the red. Major tech components are under pressure with Apple (AAPL 428.30, -3.69) and Google (GOOG 794198, -12.01) down 0.9% and 1.5%, respectively. However, Apple has managed to rally off its lows after ComScore data indicated the company maintained its lead in the U.S. smartphone market.

One bright spot among tech stocks is the outperformance of chipmakers. The PHLX Semiconductor Index is higher by 0.7%.

Today's economic data focused on jobs. The initial claims level jumped to 385,000 for the week ending March 30 from 357,000 for the week ending March 23. The Briefing.com consensus expected the initial claims level to fall to 345,000.

The increase in claims is not the result of a sudden softening in labor market conditions. The seasonal adjustments used by the DOL have a difficult time accounting for the Easter holiday. Because the Easter holiday falls on a different date each year, the seasonal adjustments from one year to the next cannot adequately explain seasonal employment fluctuations from Easter-related hiring and firing.DJ30 +6.03 NASDAQ -6.40 SP500 +1.13 NASDAQ Adv/Vol/Dec 1258/750.2 mln/1086 NYSE Adv/Vol/Dec 1535/277.4 mln/1346

12:30 pm : Recent trade saw the S&P 500 slide back to its unchanged level with the bulk of the weakness coming from the technology sector, which has notched fresh session lows.

The SPDR Technology Select Sector ETF (XLK 29.84, -0.11) is down 0.4% and major components remain pressured. Apple (AAPL 425.69, -6.30), Google (GOOG 793.47, -12.73), and International Business Machines (IBM 210.31, -2.35) are all down between 1.0% and 1.5%.

Although major sector components show notable weakness, high-beta chipmakers trade ahead of the broader market. The PHLX Semiconductor Index is higher by 0.5%.DJ30 +2.02 NASDAQ -8.72 SP500 +0.73 NASDAQ Adv/Vol/Dec 1170/681.1 mln/1170 NYSE Adv/Vol/Dec 1510/254.3 mln/1358

12:00 pm : The S&P 500 is higher by 0.2% and the utilities space is now the top performer. The defensively-minded group has seen a steady bid, which put the SPDR Utilities Select Sector ETF (XLU 39.38, +0.35) on its session highs.

Meanwhile, financials and materials paced the early gains, but the two sectors have slipped off their highs, yielding the top ranking to the defensive utilities sector.

Notably, even as the broader market trades with slim gains, the CBOE Volatility Index (VIX 14.44, +0.23) hovers near its best level of the day, up 1.6%.DJ30 +13.00 NASDAQ -4.01 SP500 +2.88 NASDAQ Adv/Vol/Dec 1243/599.3 mln/1067 NYSE Adv/Vol/Dec 1593/226.3 mln/1264

11:30 am : The S&P 500 continues to trade with a modest gain. The benchmark average is higher by 0.4% as financials, materials, and utilities pace today's advance.

Notably, two of today's leading sectors trade higher after underperforming in recent sessions. The SPDR Financial Select Sector ETF (XLF 18.07, +0.14) is rising 0.8%, but the ETF remains lower by 0.8% in April.

Elsewhere, the SPDR Materials Select Sector ETF (XLB 38.52, +0.38) trades higher by 1.0% but even with today's gain, the sector ETF is down 1.7% month-to-date. Meanwhile, the S&P 500 is down 0.6% so far this month.DJ30 +32.95 NASDAQ -1.47 SP500 +5.44 NASDAQ Adv/Vol/Dec 1263/530.2 mln/1027 NYSE Adv/Vol/Dec 1700/201.9 mln/1118

11:00 am : The major averages are trading in mixed fashion. The S&P 500 is higher by 0.3% while Nasdaq continues to trade with slim losses.

The materials sector is the top performer, but today's relative strength comes after notable weakness caused the economically-sensitive group to trail behind the broader market in recent days. The SPDR Materials Select Sector ETF (XLB 38.52, +0.38) is higher by 1.0%.

Although the materials sector is rebounding, the Dow Jones Transportation Average, which has logged three consecutive declines of at least 1.0%, remains weak. The bellwether complex is off by 0.2% with railroads underperforming notably. CSX (CSX 23.70, -0.25) and Norfolk Southern (NSC 74.16, -1.00) are down 1.0% and 1.3%, respectively.DJ30 +32.93 NASDAQ -5.20 SP500 +4.51 NASDAQ Adv/Vol/Dec 1174/423.6 mln/1069 NYSE Adv/Vol/Dec 1660/167.8 mln/1119

10:35 am : Commodities are volatile today, led by the energy space and copper.

Crude oil sold off earlier this morning, extending yesterday's sharp losses. Crude is now almost $3.50/barrel below its Tuesday high. May crude oil is now -1.5% at $93.06/barrel.

Natural gas, on the other hand, surged to a new session high a short while ago, while copper surged higher as well. Natural gas inventory was just released, showing a larger than expected draw. After whipping around, May nat gas fell following the data and is now -0.4% at $3.88/MMBtu.

Precious metals have been chopping around and are mixed in current action. June gold is now -0.3% at $1549.40/oz, while May silver is +0.1% at $26.82/oz.DJ30 +15.71 NASDAQ -6.48 SP500 +2.44 NASDAQ Adv/Vol/Dec 1047/314.6 mln/1132 NYSE Adv/Vol/Dec 1550/131 mln/1171

10:00 am : The S&P 500 is adding 0.4% after climbing to its early highs. Although the benchmark average trades with modest gains, the tech-heavy Nasdaq continues to lag.

The Nasdaq is currently flat with major components showing relative weakness. Apple (AAPL 428.00, -3.99) and Google (GOOG 798.40, -7.80) are both down near 1.0%.

Notably, the Dow Jones Transportation Average trades flat with notable weakness among railroads. Norfolk Southern (NSC 74.53, -0.63) is down 0.8%, and is the weakest performing rail carrier.DJ30 +56.86 NASDAQ +2.97 SP500 +6.70 NASDAQ Adv/Vol/Dec 1258/183.2 mln/854 NYSE Adv/Vol/Dec 1725/85.5 mln/920

09:45 am : After opening the session with slim gains, the S&P 500 trades higher by 0.3%. Meanwhile, the tech-heavy Nasdaq is flat.

With the Nasdaq underperforming, the technology sector is seeing slim losses as well. Major sector components, Apple (AAPL 429.40, -2.59), International Business Machines (IBM 211.12, -1.52) and Microsoft (MSFT 28.30, -0.25) are all down between 0.6% and 1.0%.

In addition to technology, the energy sector trades lower as well. This comes amid a 1.2% decline in the price of crude oil to $93.25.

Today's economic data focused on jobs. The initial claims level jumped to 385,000 for the week ending March 30 from 357,000 for the week ending March 23. The Briefing.com consensus expected the initial claims level to fall to 345,000.

The increase in claims is not the result of a sudden softening in labor market conditions.

The seasonal adjustments used by the Department of Labor have a difficult time accounting for the Easter holiday. Because the Easter holiday falls on a different date each year, the seasonal adjustments from one year to the next cannot adequately explain seasonal employment fluctuations from Easter-related hiring and firing.DJ30 +44.44 NASDAQ +1.21 SP500 +4.53 NASDAQ Adv/Vol/Dec 1188/106.4 mln/810 NYSE Adv/Vol/Dec 1573/60.2 mln/1003

09:17 am : [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: -1.30. Equity futures trade with slim gains as the start of the cash session nears. The S&P 500 futures are higher by 0.1%.

Overnight trade saw the S&P futures trade with a gain of 0.4% before a disappointing initial claims report contributed to a decline off pre-market highs. In addition, the ongoing press conference of the European Central Bank President Mario Draghi caused additional weakness in the futures market.

As part of his remarks, the ECB president said the fourth quarter economic conditions have extended into the first quarter, but the central bank stands ready to act if needed.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -2.80.

U.S. equity futures have slid off their highs and the S&P 500 futures are now flat.

The major Asian bourses ended mostly lower as a flare-up in tensions with North Korea offset the Bank of Japan's increase to its bond buying scheme. Yesterday, the United States announced it was moving a missile defense system to Guam before it was reported the North Korean army had received the ok to launch a nuclear attack against the United States. Overnight headlines out of North Korea warned "The moment of explosion is approaching fast." Meanwhile, the Bank of Japan meet for the first time under the leadership of Governor Kuroda, and doubled its bond buying scheme to JPY7.5 trillion a month in maturities up to 40 years while also indicating it will double its holdings of JGBs and ETFs in two years in an effort to increase the monetary base at an annual rate of JPY60-70 trillion. Markets in China and Hong Kong were closed for Tomb Sweeping Day. Data out overnight saw Australian building permits jump 3.1% month-over-month (2.4% expected) and retail sales climb 1.3% month-over-month (0.3% expected) while Thai consumer confidence ticked up to 84.8 (84.0 previous).

In Japan, the Nikkei gained 2.2% after the Bank of Japan's action as trade threatens the March highs. Real estate and financial names saw strong gains as Sumitomo Realty & Development surged 10% and Sumitomo Mitsui Financial jumped 7.4% to lead their respective sectors higher. Exporters were also a beneficiary of the buying as Honda Motor added 3.4%.
Hong Kong's Hang Seng was closed.
In China, the Shanghai Composite was closed as well.

European markets are generally higher following the release of a slew of Services PMI readings. France's Services PMI slipped to 41.3 from prior month's 41.9 (41.9 consensus). Germany's Services PMI declined to 50.9 from last month's 51.6 (51.6 consensus). The United Kingdom's Services PMI rose to 52.4 from the prior month's 51.8 (51.5 consensus). Italian Services PMI climbed to 45.5 from the 43.6 reported last month (43.5 consensus). Spanish Services PMI hit 45.3, up from the 44.7 reported a month ago (44.2 consensus). As a result of the mixed regional PMI readings, the Eurozone Services PMI slipped to 46.4 from last month's 46.5. The general consensus had expected the reading to remain unchanged.

In today's central bank action, the European Central Bank left its key interest rate unchanged at 0.75%, as expected. Elsewhere, the Bank of England also left its key interest rate and asset purchase program unchanged at their respective 0.50% and GBP375 billion.

In news, the Chief Executive Officer of Italy's Unicredit said the bank saw no deposit shifts since the Cyprus crisis began. In addition, the CEO said he believes it is "acceptable" to bail-in uninsured depositors.

The United Kingdom's FTSE is off by 0.6% with media names showing notable weakness. ITV and Reed Elsevier are down 3.2% and 3.6%, respectively.
In Germany, the DAX is rising 0.2% with defensive health care and utilities outperforming. Fresenius Medical trades higher by 4.0% and E.ON is firmer by 2.2%.
France's CAC is adding 0.5% with automaker Renault leading the way, up 3.8%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +1.70. Equity futures slipped lower in reaction to the latest initial claims data. The S&P 500 futures are higher by 0.2%.

The latest weekly initial jobless claims count totaled 385,000, which was higher than the 345,000 that had been expected by the Briefing.com consensus. Today's tally was above the prior week count of 357,000. As for continuing claims, they fell to 3.063 million from 3.071 million.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +8.00.

U.S. equity futures trade modestly higher amid upbeat overseas trade. The S&P 500 futures are firmer by 0.4%.

Looking at overnight developments:

In Asia, markets in China and Hong Kong were closed for the Ching Ming Festival. Elsewhere, Japan's Nikkei gained 2.2%.
In regional economic data:
The Bank of Japan left its target interest rate unchanged at 0-0.1%. However, the central bank also announced its monthly asset purchase program will be increased to JPY7 trillion from JPY3.8 trillion.
In Australia, retail sales climbed 1.3% month-over-month, ahead of the expected rise of 0.3%. Meanwhile, building approvals rose 3.1% month-over-month while the consensus expected an increase of 2.4%.
In news:
Japan's Nikkei rallied off session lows following the announcement of aggressive monetary policy by the Bank of Japan.
North Korea has blocked South Koreans from entering the Kaesong industrial zone for the second consecutive day, and said companies operating inside the park must leave by April 10.

European markets are generally higher with the United Kingdom's FTSE underperforming, off by 0.2%. Elsewhere, Germany's DAX is adding 0.6% and France's CAC is up 0.9%. On the periphery, Italy's MIB and Spain's IBEX are both up near 1.5%.
Looking at regional economic news:
The European Central Bank left its key interest rate unchanged at 0.75%, as expected.
The Bank of England left its key interest rate and asset purchase program unchanged at their respective 0.50% and GBP375 billion.
France's Services PMI slipped to 41.3 from prior month's 41.9 (41.9 consensus).
Germany's Services PMI declined to 50.9 from last month's 51.6 (51.6 consensus).
The United Kingdom's Services PMI rose to 52.4 from the prior month's 51.8 (51.5 consensus).
Italian Services PMI climbed to 45.5 from the 43.6 reported last month (43.5 consensus).
Spanish Services PMI hit 45.3, up from the 44.7 reported a month ago (44.2 consensus).
As a result of the mixed regional PMI readings, the Eurozone Services PMI slipped to 46.4 from last month's 46.5. The general consensus had expected the reading to remain unchanged.
In news:
In Italy, the Chief Executive Officer of Unicredit said the bank saw no deposit shifts since the Cyprus crisis began. In addition, the CEO said he believes it is "acceptable" to bail-in uninsured depositors.

In U.S. corporate news:

Carnival (CCL 32.96, -0.67) is down 2.0% after the company's cruise ship broke loose from a dock in Mobile, Alabama yesterday.
Compuware (CPWR 11.80, -0.23) is off by 1.9% after lowering its fourth quarter guidance below consensus.

March Challenger Job Cuts were reported at 49,255, which represents a year-over-year increase of 30%.

Weekly initial and continuing claims will be announced at 8:30 ET.

06:43 am : [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +8.00.

06:43 am : Nikkei...12634.54...+272.30...+2.20%. Hang Seng...Holiday.........

06:43 am : FTSE...6415.41...-4.80...-0.10%. DAX...7904.08...+29.70...+0.40%.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

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