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 Post subject: April 8th Monday Trade Results - No Trades
PostPosted: Mon Apr 08, 2013 9:40 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)
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

Quote:
Personal day off from trading and hopefully I can squeeze in some trading tomorrow.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($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 @ $0.00 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=1478

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

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

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.

Stocks Bounce Back After Worst Week Of 2013

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

NEW YORK (CNNMoney)
U.S. stocks cut their morning losses and finished higher Monday, rebounding from one of their worst weeks of the year. But the gains were slim as investors gear up for first quarter earnings reports.

The Dow Jones industrial average edged up 0.3% while the S&P 500 and Nasdaq gained 0.6%.

Kick-off to earnings: Investors will be shifting gears this week to first-quarter earnings. Aluminum producer Alcoa (AA, Fortune 500) unofficially kicked things off with its quarterly report after the closing bell. The Dow component posted earnings that topped forecasts. But sales were below estimates. JPMorgan Chase (JPM, Fortune 500) and Wells Fargo are on tap for Friday. They are the first two of the big banks to report.

Overall, analysts are forecasting first-quarter earnings to be up just 1.5% compared with a year earlier, according to Thomson Reuters.

The results over the next few weeks "will likely determine whether investors take profits on a huge Q1 stock market rally, or continue to pile on long positions to prepare for a potential continued run higher," said analysts at Lido Isle Advisors.

Rally hits speed bump: Stocks have lost steam in the last few weeks, on renewed worries about Europe, softer U.S. economic data, particularly the March jobs report, and concerns about the nuclear threat from North Korea.

But following this year's huge rally and new record highs for the Dow and S&P 500, experts say a pause is normal.

Any pullback could also be the start of a short-term correction "that will wring out some of the excesses that have crept into the market, most notably overly optimistic sentiment," said William Riegel, head of equity investments at TIAA-CREF.

Related: It's going to be a tough quarter for banks

What's moving: General Electric (GE, Fortune 500) said it planned to buy energy company Lufkin Industries (LUFK) for $3.3 billion. Shares of Lufkin, which builds and maintains equipment for oil and gas wells, surged nearly 38%.

Anheuser-Busch InBev's (BUD) proposed $20 billion acquisition of Mexican brewer Grupo Modelo appears to be back on track after the companies, along with Constellation Brands (STZ) and Crown Imports, said they'd reached an agreement that would settle the Justice Department's objections to the deal.

Shares of Biocryst Pharmaceutical (BCRX) climbed 13% after China's Food and Drug Administration expedited the approval of the company's anti-influenza medicine Peramivir amid a bird flu outbreak.

Related: Fear & Greed slides into neutral

Global pressures: Portugal plans to cut spending on education, health and welfare in a bid to meet the terms of an international rescue after the country's constitutional court shot holes in its austerity program. Despite a sell-off in Portuguese stocks, the main European markets ended slightly higher.

Meanwhile, tensions remain high in Korea as the region waits uneasily for Kim Jong Un's next move. Asian markets ended mixed. The Shanghai Composite closed down 0.6%, while the Hang Seng advanced 0.1%.

The Nikkei continued to rally, adding another 2.8%, as investors cheered new stimulus measures from the Bank of Japan. The yen weakened against the U.S. dollar, falling to its lowest level since 2009.

The dollar fell against the euro but gained ground versus the British pound.

Oil prices rose slightly, while gold edged lower.

The price of the 10-year Treasury edged lower, pushing the yield up to 1.75% from 1.69% late Friday.

Image



4:10 pm : Equities spent the bulk of today's session in negative territory before afternoon buying lifted the major averages out of the red. As a result, the S&P 500 settled higher by 0.6%.

Although stocks finished with gains, leadership was mixed, suggesting a certain level of indecision was present among market participants. Both consumer sectors ended ahead of the broader market with the defensively-oriented staples in the lead.

Staple stocks outperformed amid broad strength in beverage and tobacco producers. Coca-Cola (KO 40.86, +0.78) rose 2.0% and Philip Morris (PM 94.44, +1.72) advanced 1.9%.

Meanwhile, the growth-sensitive discretionary space outperformed on the back of homebuilders as the group rallied broadly. PulteGroup (PHM 19.73, +0.60) gained 3.1% while the broader SPDR S&P Homebuilders ETF (XHB 29.49, +0.58) added 2.0%.

Elsewhere in discretionary shares, quick-service restaurants ended on a mixed note. Yum! Brands (YUM 67.33, +0.36), who owns the KFC brand, was under early pressure amid concerns the Chinese bird flu outbreak will impact KFC sales. However, the stock was able to shake off the early weakness, and end higher by 0.5%.

In addition to consumer stocks, the Dow Jones Transportation Average outperformed, and settled with a gain of 0.9%. While most index components settled in the black, airlines displayed notable strength. Delta Air Lines (DAL 14.93, +0.54) and United Continental (UAL 30.05, +0.78) climbed 3.8% and 2.7%, respectively.

On the downside, the health care sector lagged after outperforming last week. BioCryst Pharmaceuticals (BCRX 1.92, +0.22) was an exception as the stock surged 12.9% after Chinese authorities approved the company's peramivir flu treatment in light of the recent bird flu outbreak.

In M&A news, Lufkin Industries (LUFK 87.96, +24.03) surged 37.6% after the company agreed to be acquired by General Electric (GE 23.12, +0.19) for $3.3 billion or $88.50 per share. The transaction price represents a 38% premium to Lufkin's Friday closing price.

Today's volume was well below average as less than 600 million shares changed hands on the floor of the New York Stock Exchange.

Reviewing the day's final sector performance, consumer staples (+1.1%), consumer discretionary (+1.1%), financials (+1.0%), and utilities (+0.8%) traded ahead of the broader market. Meanwhile, telecom (-0.5%), health care (+0.2%), and technology (+0.4%) lagged.

There was no notable economic data released today.

Tomorrow, February wholesale inventories will be reported at 10:00 ET.

The U.S. Treasury will auction off $32 billion in 3-yr notes.DJ30 +48.23 NASDAQ +18.39 SP500 +9.79 NASDAQ Adv/Vol/Dec 1463/1.28 bln/987 NYSE Adv/Vol/Dec 2069/582.8 mln/933

3:30 pm :

May crude oil dipped into negative territory and to a session low of $92.46 per barrel in late morning action but quickly recovered into the black and trended higher for the remainder of pit trade. It booked a gain of 0.7% as it settled at $93.36 per barrel, slightly below its session high of $93.46 per barrel.
May natural gas began pit trade in the black but lost momentum in mid-morning action. It pulled back from its session high of $4.18 per MMBtu and fell into negative territory. It brushed a session low of $4.05 per MMBtu and eventually settled with a 1.2% loss at $4.08 per MMBtu.
June gold fell during today's floor trade as a stronger dollar index weighed on prices. The yellow metal dipped to a session low of $1566.60 per ounce in late morning action and settled with a 0.2% loss at $1572.60 per ounce.
May silver also chopped around in negative territory for most of its session. It touched a session low of $27.07 per ounce and closed 0.2% lower at $27.16 per ounce.

DJ30 +13.13 NASDAQ +9.60 SP500 +5.44 NASDAQ Adv/Vol/Dec 1272/1030.3 mln/1178 NYSE Adv/Vol/Dec 1887/373 mln/1094

3:00 pm : Heading into the final hour of action, the S&P 500 is higher by 0.3%. Today's session has been very quiet with intraday volume running well below average.

With no economic data or news of note, stocks spent the day in a narrow range before afternoon buying lifted the major indices off their lows.

Although today's session has resulted in little change to the broader market, activity is likely to pick up in the upcoming days as the earnings season gets underway. Following today's close, Alcoa (AA 8.30, +0.06) will report its first quarter results. The Capital IQ consensus expects the aluminum producer to report earnings of $0.09 on $5.89 billion in revenue.DJ30 +5.46 NASDAQ +7.09 SP500 +4.35 NASDAQ Adv/Vol/Dec 1237/932.4 mln/1209 NYSE Adv/Vol/Dec 1837/337.5 mln/1120

2:30 pm : The S&P 500 is higher by 0.3% after recent trade saw the benchmark average climb to fresh highs. As a result of the strength, eight of ten sectors now trade in the black.

Consumer stocks remain in the lead with the defensively-minded consumer staples pacing the advance.

Elsewhere, the recent strength occurred as the Dow Jones Transportation Average rose to a session high of its own. The bellwether complex is firmer by 0.6% amid outperformance from airlines. Delta Air Lines (DAL 14.79, +0.40) and United Continental (UAL 29.71, +0.44) trade higher by 2.9% and 1.5%, respectively.DJ30 -1.29 NASDAQ +7.18 SP500 +4.06 NASDAQ Adv/Vol/Dec 1182/843.5 mln/1262 NYSE Adv/Vol/Dec 1772/306.7 mln/1175

2:00 pm : Recent trade saw the S&P 500 climb into positive territory. That move was accompanied by relative strength in the Nasdaq, which was also able to climb into the black. Meanwhile, the Dow continues to trade with a slim loss.

The move to fresh highs occurred amid broad market strength. Notably, the technology sector rose to its session best amid gains in chipmakers. The PHLX Semiconductor Index is higher by 0.5%.DJ30 -7.39 NASDAQ +5.32 SP500 +3.23 NASDAQ Adv/Vol/Dec 1141/780.3 mln/1273 NYSE Adv/Vol/Dec 1723/282.1 mln/1199

1:30 pm : Quiet trade continues as the major averages hover near their respective flat lines. The S&P 500 trades with a slim loss as health care, materials, and technology pressure the broader market.

Recent action saw the financial sector erase its early weakness. Although the SPDR Financial Select Sector ETF (XLF 18.03, 0.00) now trades flat, major components trade in mixed fashion. Goldman Sachs (GS 141.98, -1.71) is down 1.2% while American Express (AXP 65.50, +0.20) is higher by 0.3%.

Even as the broader market continues to trade in the red, the CBOE Volatility Index (VIX 13.79, -0.13) remains near its lowest level of the day suggesting market participants are not actively seeking downside protection.DJ30 -40.32 NASDAQ -2.46 SP500 -0.41 NASDAQ Adv/Vol/Dec 1007/708.2 mln/1398 NYSE Adv/Vol/Dec 1552/256.8 mln/1383

1:00 pm : Equities began the day on a mixed note before early selling sent the major averages to their respective lows. Although the morning losses were limited, stocks were unable to break into positive territory following the opening weakness. At midday, the S&P 500 is off by 0.1% after spending the first half of the session in a narrow range.

The health care sector is the biggest laggard after the group displayed notable outperformance over the course of last week. In addition, two of the weakest sectors of the month, materials and technology, trade in the red as well.

The SPDR Materials Select Sector ETF (XLB 38.19, -0.12) is off by 0.3% amid continued global growth concerns. Steel producers remain under pressure, and the Market Vectors Steel ETF (SLX 41.57, -0.09) is down 0.2%.

Meanwhile, technology stocks trade lower as large components show relative weakness. Google (GOOG 770.23, -12.82) and Microsoft (MSFT 28.50, -0.20) are down 1.6% and 0.7%, respectively. Chipmakers, however, have shown relative strength as the PHLX Semiconductor Index trades with a gain of 0.2%.

On the upside, consumer discretionary stocks trade higher amid outperformance from homebuilders. KB Homes (KBH 21.54, +0.45) is higher by 2.1% while the broader SPDR S&P Homebuilders ETF (XHB 29.12, +0.21) adds 0.7%.

In M&A news, Lufkin Industries (LUFK 87.99, +24.06) is surging 37.6% after the company agreed to be acquired by General Electric (GE 22.86, -0.07) for $3.3 billion or $88.50 per share. The transaction price represents a 38% premium to Lufkin's Friday closing price.

There was no economic data of note reported today.DJ30 -42.30 NASDAQ -3.37 SP500 -1.44 NASDAQ Adv/Vol/Dec 1022/653.1 mln/1383 NYSE Adv/Vol/Dec 1485/237.5 mln/1414

12:30 pm : Quiet trade continues with the major averages unable to climb into positive territory. A tight range remains in place with the weakest sector, health care, trading lower by 0.5% while the top performing group of the day, consumer staples, is rising 0.3%.

The consumer staples sector trades ahead of the broader market with notable strength in beverage and tobacco stocks. Monster Beverage (MNST 51.83, +2.15) is rising 4.2% and Philip Morris (PM 94.08, +1.36) is higher by 1.5%.DJ30 -53.95 NASDAQ -5.63 SP500 -2.24 NASDAQ Adv/Vol/Dec 991/597.1 mln/1403 NYSE Adv/Vol/Dec 1439/218.4 mln/1445

12:00 pm : Little change has taken place in recent trade as the major averages remain in the red. The Dow continues to trail behind the broader market as the 30-stock average trades with a loss of 0.4%.

Although equities have spent today's session in a narrow range, the underperformance of the growth-oriented materials sector has been notable. The SPDR Materials Select Sector ETF (XLB 38.16, -0.15) is off by 0.4%. Including today's weakness, the materials space is the weakest performer so far in April.

Meanwhile, the second weakest sector of the month, technology, can also be found among today's laggards due to relative weakness of major components. Google (GOOG 773.83, -9.22) and International Business Machines (IBM 207.98, -1.43) are both down near 0.7%.DJ30 -54.79 NASDAQ -2.55 SP500 -1.55 NASDAQ Adv/Vol/Dec 1010/540.7 mln/1366 NYSE Adv/Vol/Dec 1460/202.2 mln/1407

11:30 am : Equities continue to trade with slim losses, and the S&P 500 is off by 0.1%. Quiet late morning trade continues with health care and materials underperforming slightly.

On the upside, consumer shares remain among the top performers of the day. In the discretionary sector, homebuilders have shown relative strength and the SPDR S&P Homebuilders ETF (XHB 29.11, +0.20) trades higher by 0.7%.

In addition, the Dow Jones Transportation Average trades with a slim gain of 0.1% as airlines outperform. Delta Air Lines (DAL 14.75, +0.36) is adding 2.5%.DJ30 -42.66 NASDAQ -3.38 SP500 -1.18 NASDAQ Adv/Vol/Dec 973/466.1 mln/1399 NYSE Adv/Vol/Dec 1415/178.2 mln/1426

11:00 am : The major averages continue to trade in the red, and the S&P 500 is off by 0.1%. Although the broader market trades in negative territory, the early losses have been limited for the most part.

The broader market is being pressured by growth-oriented materials and technology with both sectors down 0.3%. In addition, the health care space trades lower after outperforming last week.

On the upside, both consumer discretionary and consumer staple stocks trade with modest gains. The SPDR Consumer Staples Select Sector ETF (XLP 39.83, +0.17) is rising 0.4%, and is the top performing sector ETF.DJ30 -37.37 NASDAQ -3.04 SP500 -0.91 NASDAQ Adv/Vol/Dec 959/388.1 mln/1367 NYSE Adv/Vol/Dec 1451/151.7 mln/1374

10:30 am : Major commodities are mostly higher this morning, despite modest strength seen in the dollar index (+0.2% at 82.64).

May crude oil futures have been in positive territory all day so far and rose as high as $93.75/barrel. Prices have since pulled back and are now +0.4% at $93.11/barrel.

Natural gas prices have been in positive territory all session as well. Nat gas sold off just before the open of floor trading, along with crude, but has modestly recovered and is now +0.8% at $4.16/MMBtu.

Precious metals have been in the red for most of today's floor trading session and just pulled back again a little here. June gold is now -0.2% at $1572.20/oz, while May silver is -0.3% at $27.15/oz. May copper is +0.5% at $3.36/lb.DJ30 -57.45 NASDAQ -5.60 SP500 -3.33 NASDAQ Adv/Vol/Dec 869/298.9 mln/1412 NYSE Adv/Vol/Dec 1267/123 mln/1526

09:55 am : Recent trade saw the Nasdaq join the Dow and S&P 500 in the red. With all three indices trading lower, the Dow is the weakest performer, off by 0.4%.

The Dow Jones Industrial Average trades modestly lower with 26 of 30 components declining. Johnson & Johnson (JNJ 80.50, -1.54) is the weakest index member after JPMorgan Chase downgraded the stock to 'Neutral' from 'Overweight.'

On the upside, Walt Disney (DIS 58.17, +0.47) is rising 0.8%.

The relative weakness of the Dow is notable as the blue chip index led the bulk of the first quarter rally.DJ30 -51.07 NASDAQ -1.24 SP500 -2.69 NASDAQ Adv/Vol/Dec 897/167.5 mln/1283 NYSE Adv/Vol/Dec 1301/81.5 mln/1414

09:45 am : Equities began the session on a mixed note. The Dow and S&P 500 trade with slim losses while the tech-heavy Nasdaq trades higher by 0.1%.

The consumer discretionary sector is the top performer in early trade. The SPDR Consumer Discretionary Select Sector ETF (XLY 52.84, +0.25) is higher by 0.5% with homebuilders and retailers contributing to the early strength. The SPDR S&P Retail ETF (XRT 70.30, +0.17) is adding 0.2%.

On the downside, health care and utilities lag after the two groups outperformed the broader market last week.DJ30 -41.64 NASDAQ +1.12 SP500 -2.06 NASDAQ Adv/Vol/Dec 1053/115.1 mln/1088 NYSE Adv/Vol/Dec 1464/66.4 mln/1197

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: +1.50. Heading into the open, equity index futures trade with modest gains and the S&P 500 futures are higher by 0.2%.

Stocks are poised to begin the cash session on an upbeat note with the energy sector likely to see early strength. This comes after Lufkin Industries (LUFK 87.90, +23.97) agreed to be acquired by General Electric (GE 23.05, +0.12) for $88.50 per share. The transaction price represents a 38% premium to Lufkin's Friday closing price.

On the downside, Yum! Brands (YUM 65.82, -1.15) is down 1.7% as the bird flu continues to spread through China. Shares of Yum! are pressured as the company owns the KFC brand. In addition, McDonald's (MCD 101.00, -0.42) trades lower by 0.4% after the company's Chinese division cut prices of its poultry-related products.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +3.70.

U.S. equity futures continue to trade higher with the S&P 500 futures up 0.3%.

The major Asian bourses ended mostly lower as bird flu worries and the overhang of North Korean saber-rattling made for a mostly lower day. Taiwan's Taiex (-2.4%) and China's Shanghai Composite (-0.6%) were among the worst performers in the region after returning from their holiday weekends as bird flu worries weighed. It has been reported that 21 people have contracted bird flu in recent weeks. Meanwhile, traders continue to watch developments out of North Korea with April 10 being the next date to watch. On Friday, Pyongyang warned visiting diplomats their safety could not be guaranteed after that day. Data out overnight saw a flat Japanese current account balance (JPY0.00 trillion actual versus JPY 0.46 trillion expected, JPY0.36 trillion previous), Australia's ANZ Job Advertisements sink 1.5% month-over-month, and Taiwan's inflation cooled to 1.39% (2.97% previous).

In Japan, the Nikkei advanced 2.8% to finish at its best level since August 2008. Exporters rallied as the yen weakened with Canon rallying 3.5% and Toyota Motor jumping 4.1%. Financials and real estate names saw strong gains as Sumitomo Realty Development surged 8.1% and Mitsubishi UFJ Financial gained 5.4%.
Hong Kong's Hang Seng finished unchanged amid a choppy session. Financials were mixed as Bank of Communications shed 0.7% and Agricultural Bank of China gained 0.3%.
In China, the Shanghai Composite settled lower by 0.6%, managing to trim a good portion of its early losses. Airliners were hit on bird flu concerns as Air China slid 3.4% and China Southern Air gave up 2.6%.

European indices trade modestly higher with France's CAC outperforming (+0.7%). Regional economic data was limited to just a handful of data points. German industrial production rose 0.5% to follow last month's decline of 0.6% (+0.3% consensus). Elsewhere, the eurozone Sentix Investor Confidence was reported at -17.3 to follow last month's reading of -10.6 (-13.1 consensus).

In news, Portugal's constitutional court has ruled some of the EU-imposed austerity measures as unconstitutional. The PSI 20 index trails behind the remainder of the region in light of these developments. Meanwhile, Italy's Pier Luigi Bersani has rejected a pact with Silvio Berlusconi's PDL party, but indicated he would not stand in the way of forming a new government.

In Germany, the DAX is higher by 0.3% with Bayer leading the way. The drug maker trades higher by 2.4%. On the downside, Commerzbank and Deutsche Bank are both down near 0.6%.
The United Kingdom's FTSE trades with a gain of 0.4% as industrials and producers of basic materials outperform. Polymetal International and Weir Group are both up near 5.0%.
In France, the CAC is adding 0.7% amid the outperformance from consumer companies. Cie Generale d'Optique Essilor and L'Oreal are down 2.2% and 2.3%, respectively.

08:28 am : [BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +5.00. Equity futures continue to hover near their best levels of pre-market trade with the S&P 500 futures up 0.3%.

As futures trade firmly higher, the energy sector is poised for a strong open after Lufkin Industries (LUFK 87.77, +23.84) agreed to be acquired by General Electric (GE 23.03, +0.10) for $88.50 per share, representing a 38% premium to Lufkin's Friday closing price.

Elsewhere, Alcoa (AA 8.32, +0.08) trades higher by 1.0% ahead of its quarterly report scheduled to be released after today's closing bell. As usual, Alcoa's earnings report will mark the start of the first quarter earnings season.

08:05 am : S&P futures vs fair value: +3.70. Nasdaq futures vs fair value: +6.70.

U.S. equity futures trade modestly higher amid generally upbeat overseas trade. The S&P 500 futures are firmer by 0.4% as they hover near their best levels of pre-market action.

Looking at overseas developments:

Asian markets ended on a mixed note. China's Shanghai Composite shed 0.6% while Japan's Nikkei gained 2.8%, and Hong Kong's Hang Seng ended flat.
Regional economic data was limited:
In Japan, the Economy Watchers Current Index rose to 57.3 from 53.2 (56.3 consensus). Meanwhile, the country's adjusted current account was reported as balanced while a surplus of JPY0.46 trillion was expected to follow the prior surplus of JPY0.36 trillion.
In news:
Japanese Government Bond futures were halted for the second consecutive session due to a volatility-based circuit breaker taking place shortly after the start of the session. Currently, the Japanese 10-yr benchmark yield is at 0.526%.
China's Shanghai Composite has slid to its lowest level of the year as the bird flu continues to spread across the country.

European indices trade modestly higher with France's CAC outperforming, up 0.6%. Elsewhere, Germany's DAX and the United Kingdom's FTSE are both higher by 0.4%.
Looking at regional economic data:
German industrial production rose 0.5% to follow last month's decline of 0.6% (+0.3% consensus).
The eurozone Sentix Investor Confidence was reported at -17.3 to follow last month's reading of -10.6 (-13.1 consensus).
In news:
Portugal's constitutional court has ruled some of the EU-imposed austerity measures as unconstitutional.
In Italy, Pier Luigi Bersani has rejected a pact with Silvio Berlusconi's PDL party, but indicated he would not stand in the way of forming a new government.

In U.S. corporate news:

Lufkin Industries (LUFK 87.75, +23.82) is surging 37.3% after the company agreed to be acquired by General Electric (GE 23.04, +0.11) for $3.3 billion or $88.50 per share. The transaction price represents a 38% premium to Lufkin's Friday closing price.
Johnson & Johnson (JNJ 81.57, -0.47) is down 0.6% after JPMorgan Chase downgraded the stock to 'Neutral' from 'Overweight.'

There is no economic data of note scheduled to be released today.

06:51 am : [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +3.50.

06:50 am : Nikkei...13192.59...+358.90...+2.80%. Hang Seng...21718.05...-8.90...0.00.

06:50 am : FTSE...6263.30...+13.50...+0.20%. DAX...7684.45...+25.70...+0.30%.

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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