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 Post subject: April 19th Friday Trade Results - Profit $1510
PostPosted: Sat Apr 20, 2013 7:23 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
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 @ $300.00 dollars or +3.00 points, Light Crude Oil CL ($CL_F) futures @ $1210.00 dollars or +1.21 points, Gold GC ($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 @ $1510.00 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=1487

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.

Stocks Suffer 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)
The U.S. stock market wrapped up the worst week of 2013, with all three major indexes dropping more than 2%.

But while the world watched the lockdown in Boston, the fear gripping the city showed few signs of spilling into the stock market Friday.

The Dow closed slightly higher despite concerns about the health of tech giant IBM (IBM, Fortune 500). Shares of IBM, which carries the biggest weighting in the Dow, dropped more than 6% Friday following weak earnings.

Yet the S&P 500 and the Nasdaq ticked higher, gaining 0.9% and 1.3% respectively.

Mixed bag of earnings reports: Some of the world's biggest companies handed investors big surprises, but they offered no easy takeaways about the health of corporate America.

"No broader trend has emerged yet," said BTIG's chief market strategist Dan Greenhaus. "A lot of what we have seen is company specific."

* Fear & Greed Index stuck in fear

Take industrials. General Electric (GE, Fortune 500) spooked investors by noting its big backlog of equipment and services. Its stock fell 4%.

Yet, appliance maker Honeywell (HON, Fortune 500) reported an increase in first-quarter earnings, pushing up its stock price by 4%.

And Big Macs are not so hot. McDonald's (MCD, Fortune 500) shares dropped after the hamburger maker noted a decline in same-store sales.

But Chipotle (CMG) -- one of hedge fund manager David Einhorn's least favorite stocks -- rose more than 10%. The Mexican food chain reported earnings that showed increases in revenue, income and same-store sales.

The contrasting reports continued in the tech sector. While IBM fell drastically, other tech stocks fared better. Microsoft (MSFT, Fortune 500) got a big boost in its latest earnings report from strong Windows 8 sales.

Google (GOOG, Fortune 500) earnings topped estimates, even as the search giant faces challenges with how to make money off mobile ads and its Motorola smartphone unit.

Analysts expect earnings for S&P 500 companies to rise by 2% for the first quarter, according to S&P Capital IQ. But earnings season is far from over. So far, 104 S&P 500 companies have reported, with 70 beating forecasts, 23 missing and 11 coming in in line.

Apple, Dell and other M&A news: Shares of Apple (AAPL, Fortune 500), which have been in freefall lately, closed slightly lower, hitting another new 52-week low.

Meanwhile, Dell's (DELL, Fortune 500) stock slid more than 3% following reports that Blackstone (BX) had dropped its bid to buy the PC company.

Shares of PepsiCo (PEP, Fortune 500) and Mondelez (MDLZ) rose 2% and 5% respectively, after activist investor Nelson Peltz raised his stake in PepsiCo, according to an SEC filing. Peltz, who also holds a stake in Mondelez, is expected to push for a merger between the two, or some sort of combination of their food and snack businesses. PepsiCo said that it has been meeting with Peltz's Trian fund to reevaluate its business.

A mega beer merger received the Department of Justice's blessing. The DOJ agreed to allow the merger of Anheuser Busch InBev (BUD) and Grupo Modelo after Modelo sells certain U.S. assets to Constellation Brands (STZ).

SeaWorld (SEAS) debuted Friday with the amusement park operator's stock jumping more than 25%.

* Bitcoin bubble re-inflates

European markets closed mixed, led by a 1% gain on the CAC 40 in Paris.

Asian markets ended firmer. The Shanghai Composite closed up 2.1%, Hong Kong's Hang Seng up 2.3% and Japan's Nikkei up 0.7%.

The dollar rose against the pound and the Japanese yen, but fell against the euro.

Oil and gold prices edged higher.

The price on the 10-year Treasury fell, pushing the yield up to 1.71%.

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Market Update

4:25 pm : The major averages entered the weekend on a mixed note. The S&P 500 settled higher by 0.9% while the Dow Jones Industrial Average ended with a slim gain of 0.1%.

The 30-stock Dow trailed behind the broader market as General Electric (GE 21.75, -0.92), McDonald's (MCD 99.92, -1.99), and International Business Machines (IBM 190.00, -17.15) pressured the price-weighted index after reporting earnings.

Of the three names, General Electric and McDonald's reported in-line results, but the two echoed the ongoing global growth concerns with their commentary. IBM, meanwhile, missed on earnings and reported revenue more than $1 billion below the Capital IQ consensus estimate. Shares of IBM tumbled 8.3% to surrender all of their year-to-date gains.

While the Dow spent the entire day in negative territory, the S&P 500 climbed steadily as some of the biggest laggards of the week appeared among today's leaders. Interestingly, the rally staged by the S&P stalled right near Monday's closing levels.

With the market rebounding broadly, seven of 10 sectors ended with gains of at least 1.0%. Leadership was mixed as cyclical and defensive groups displayed strength.

Energy, technology, and industrials were the only three sectors which lagged. The energy space ended flat as crude oil added 0.2% to $88.20.

Elsewhere, tech shares were pressured by IBM's disappointing earnings. In other news of note, Dell (DELL 13.40, -0.55) lost 3.9% after Blackstone ended its attempt to acquire the company.

Meanwhile, Google (GOOG 799.87, +33.96) and Microsoft (MSFT 29.76, +0.98) kept the sector from registering further losses after the two beat on earnings.

The industrial space was the third notable laggard as General Electric weighed. Excluding the industrial heavyweight, other sector components held up relatively well. The Dow Jones Transportation Average climbed 1.5% after sliding 3.3% during the first four sessions of the week.

Today's advance eased some fears of a looming correction as the CBOE Volatility Index (VIX 14.88, -2.68) slipped back to Tuesday's closing level. However, the near-term volatility index remains above 12.07, where it ended last week.

Today's volume total was aided by options expiration. As a result more than 900 million shares changed hands on the floor of the New York Stock Exchange.

There was no economic data of note released today.

On Monday, March existing home sales will be reported at 10:00 ET.

Week in Review: S&P 500 Endures Its Worst Week of the Year

On Monday, equities sold off steadily throughout the day, and the S&P 500 lost 2.3%, registering its biggest one-day drop of the year. The major averages were pressured from the opening bell as global growth concerns returned to the forefront. In China, first quarter GDP rose 7.7%, which was below the expected growth of 8.0%. The disappointing report added to the weakness of the commodity complex, which saw an extension of last week's selling. Gold miners endured a rough session as the Market Vectors Gold Miners ETF (GDX 28.59, +0.37) fell 9.9% on the heels of a 9.5% plunge in gold to $1356.80. Meanwhile, silver tumbled 13.0% to $22.90.

Tuesday brought some relief as the S&P 500 climbed 1.4%. While the economically-sensitive materials space was able to rebound and end atop the leaderboard, the defensively-geared consumer staples were not far behind. Staple stocks received some support from Coca-Cola (KO 42.66, +0.56) after the beverage giant narrowly beat the Capital IQ earnings estimate. A defensive bid also buoyed the health care sector where Johnson & Johnson (JNJ 84.49, +1.31) gained 2.1% after beating on earnings.

Sellers reemerged during Wednesday's session as the S&P 500 tumbled 1.4%. Technology stocks felt the brunt of the drop as the SPDR Technology Select Sector ETF (XLK 29.35, +0.04) lost 2.1%. Apple (AAPL 390.53, -1.52) dipped below $400 for the first time since December 2011, and settled lower by 5.5%.

Thursday saw a continuation of Wednesday's selling. The S&P 500 shed 0.7% to close below its 50-day moving average for the first time since December 28, 2012. Cyclical sectors were under pressure with technology stocks once again finishing among the laggards. Elsewhere, the cyclical discretionary sector also finished in the red as homebuilders slumped.DJ30 +10.37 NASDAQ +39.69 SP500 +13.64 NASDAQ Adv/Vol/Dec 1684/1.68 bln/780 NYSE Adv/Vol/Dec 2189/914.5 mln/817

3:35 pm : Commodities ended the day mixed with crude oil finishing modestly higher, just above $88/barrel, RBOB rising two cents to $2.77/gallon and natural gas futures and heating oil ending unchanged.

May crude oil rose $0.26 in today's floor trading session to $88.01/barrel, while May natuarl gas ended at $4.40/MMBtu.

Metals were also mixed with June gold rising $2.90 to end the day at $1395.30/oz, May silver losing $0.27 to finish at $22.98/oz. May copper lost 5 cents and ended at $3.15/lb.DJ30 +9.82 NASDAQ +40.72 SP500 +13.25 NASDAQ Adv/Vol/Dec 1671/1434.4 mln/752 NYSE Adv/Vol/Dec 2181/622 mln/781

3:00 pm : The S&P 500 is firmer by 0.7% as the index continues to hover near its highs.

The first busy week of the Q1 earnings season produced a fair share of bottom-line beats, while revenue figures proved to be more of a mixed bag.

Next week will bring a heavy dose of quarterly earnings with Caterpillar (CAT 80.26, -0.20) and Halliburton (HAL 36.97, -0.74) set to report their results ahead of Monday's open.

Meanwhile, Netflix (NFLX 163.93, +0.11) and Texas Instruments (TXN 34.27, +0.35) will announce their earnings after Monday's closing bell.DJ30 -16.78 NASDAQ +35.89 SP500 +10.37 NASDAQ Adv/Vol/Dec 1635/1.26 bln/773 NYSE Adv/Vol/Dec 2107/559.3 mln/850

2:30 pm : With 90 minutes left in today's session, the major averages continue to hover near their recent levels. The S&P 500 is higher by 0.8% as the index looks to regain a portion of the losses sustained earlier this week.

While many of the recent underperformers appear among the session leaders, today's advance carries a defensive undertone with consumer staples, health care, and telecoms all seeing gains of at least 1.0%.

Meanwhile, the CBOE Volatility Index (VIX 15.53, -2.03) is down over 10.0% as today's rally cools the demand for near-term downside protection. However, the VIX continues to hover well above 12.07, where it settled last Friday.DJ30 -11.25 NASDAQ +41.67 SP500 +11.84 NASDAQ Adv/Vol/Dec 1665/1.18 bln/729 NYSE Adv/Vol/Dec 2124/524.9 mln/820

1:55 pm : Recent action has slowed down considerably. The S&P 500 is higher by 0.7% while the Dow continues to hover in the red.

Although most Dow components are trading higher, the price-weighted index has been unable to sustain a move into positive territory. The largest index component, International Business Machines (IBM 190.08, -17.07), is responsible for the weakness as the stock trades lower by 8.3% after reporting disappointing quarterly results. IBM missed on earnings while its revenue was more than $1 billion short of the Capital IQ consensus estimate.

On the upside, Microsoft (MSFT 29.68, +0.89) is the top performer in the Dow after beating on earnings.DJ30 -17.85 NASDAQ +35.09 SP500 +10.53 NASDAQ Adv/Vol/Dec 1637/1.09 bln/744 NYSE Adv/Vol/Dec 2041/490.2 mln/897

1:30 pm : Recent action saw equity indices continue slipping from their session highs. After marking its best level of the day around 11:30 ET, the S&P 500 has surrendered about four points. Similarly, the Dow and Nasdaq have retreated off their highs as well.

Notably, the energy sector has shown some added weakness. The SPDR Energy Select Sector ETF (XLE 74.16, -0.55) is off by 0.7% after notching fresh session lows. In addition to energy, the tech sector is the only other group trading in the red.DJ30 -20.73 NASDAQ +35.89 SP500 +10.09 NASDAQ Adv/Vol/Dec 1621/1.03 bln/746 NYSE Adv/Vol/Dec 2026/465.7 mln/908

1:00 pm : The S&P 500 trades near its highs as equities rebound from their midweek selloff. The benchmark average is firmer by 0.6% while the Dow lags with a loss of 0.3%.

The relative weakness of the price-weighted Dow is a result of notable underperformance from two key components. International Business Machines (IBM 191.21, -15.94) and McDonald's (MCD 99.75, -2.16) trade with respective losses of 7.7% and 2.1% after reporting their quarterly results. Shares of IBM surrendered almost all of their 2013 gains after the company missed on earnings and revenue.

Meanwhile, McDonald's reported in-line results, but its April comparable store guidance missed expectations.

Another Dow component, General Electric (GE 21.82, -0.85), also trades lower after its earnings report reinforced the ongoing growth concerns. While General Electric does not account for a large portion of the Dow, its market cap makes it one of the top stocks in the industrial sector, which is little changed.

Many of this week's laggards can be found among today's outperformers. The Dow Jones Transportation Average is higher by 1.3% after seeing a 3.3% slide during the first four sessions of the week. Eighteen of 20 index members trade in the black as airlines lead.

Elsewhere, the discretionary sector is being supported by homebuilders. The SPDR S&P Homebuilders ETF (XHB 28.55, +0.53) is adding 1.9%.

On the downside, the energy space has spent the bulk of the session in the red with the SPDR Energy Select Sector ETF (XLE 74.20, -0.51) lower by 0.7%.

With the broader market in rally mode, the CBOE Volatility Index (VIX 15.44, -2.12) has slipped from yesterday's highs. However, the near-term volatility measure remains elevated on the week.DJ30 -36.57 NASDAQ +34.08 SP500 +8.70 NASDAQ Adv/Vol/Dec 1616/962.8 mln/738 NYSE Adv/Vol/Dec 2037/441.2 mln/862

12:30 pm : The S&P 500 has spent the past hour hovering near its session highs. Meanwhile, the Dow has slipped off its best level of the day after briefly crossing into positive territory.

Many of this week's underperformers can be found among today's leaders as six sectors trade with gains of at least 1.0%. Meanwhile, the energy space continues to lag. The SPDR Energy Select Sector ETF (XLE 74.42, -0.29) is off by 0.4%.

Elsewhere, industrials and technology also trade near their flat lines. The industrial sector is being held down by General Electric (GE 21.72, -0.95), which trades lower by 4.2% after its earnings echoed global growth concerns. Meanwhile, technology stocks are being pressured by International Business Machines (IBM 192.02, -15.13) after the company missed on earnings and revenue.DJ30 -22.88 NASDAQ +36.78 SP500 +9.94 NASDAQ Adv/Vol/Dec 1661/886.5 mln/675 NYSE Adv/Vol/Dec 2096/414.2 mln/781

12:00 pm : The S&P 500 is higher by 0.8% with six sectors now seeing gains of at least 1.0%. Today's session has brought some relief to several groups, which underperformed notably earlier this week.

The weakest S&P sector of the year, materials, is higher by 0.9%. Earlier this week, the space declined amid significant pressure resulting from the selloff in gold. Today, however, the yellow metal trades higher by 0.5% near $1,400 per troy ounce.

Homebuilders also lagged notably during the earlier part of the week, but the group has shown strength today. The SPDR S&P Homebuilders ETF (XHB 28.68, +0.66) trades with a gain of 2.4%.DJ30 -14.35 NASDAQ +39.95 SP500 +11.72 NASDAQ Adv/Vol/Dec 1726/817.9 mln/598 NYSE Adv/Vol/Dec 2192/388.6 mln/688

11:30 am : Recent trade saw the S&P 500 climb to fresh highs. Meanwhile, the Dow has risen off its lows as the index now trades with a loss of just 0.1%.

As the broader market rebounds from the selling of the past two days, nine sectors trade in positive territory. Meanwhile, the energy space is off by 0.2%.

The Dow Jones Transportation Average is one of the notable leaders of today's rally. The bellwether complex is higher by 1.4% as 18 of 20 components trade with firm gains. Airlines have shown significant strength with Southwest Airlines (LUV 13.29, +0.31) higher by 2.4%.DJ30 -20.52 NASDAQ +38.87 SP500 +10.74 NASDAQ Adv/Vol/Dec 1667/736.5 mln/627 NYSE Adv/Vol/Dec 2135/359.3 mln/719

11:00 am : The major averages continue to trade in mixed fashion. The Dow is hovering near its session lows while the S&P 500 and Nasdaq are near their highs.

The Dow remains pressured by two of its top three components. International Business Machines (IBM 191.39, -15.76) and McDonald's (MCD 100.02, -1.89) are near their lows after reporting earnings. While IBM missed on earnings and revenue, McDonald's reported in-line results. However, the company's April comparable store guidance fell short of expectations.

On the upside, the consumer staples sector is the top performing group as the SPDR Consumer Staples Select Sector ETF (XLP 40.85, +0.47) trades higher by 1.2%.DJ30 -35.80 NASDAQ +32.75 SP500 +8.38 NASDAQ Adv/Vol/Dec 1580/626.5 mln/666 NYSE Adv/Vol/Dec 2012/323.7 mln/775

10:35 am : Commodities are mixed this morning, while the dollar index is trading modestly lower. May crude oil sold off earlier from its HoD of $88.79/barrel and is now just above $?. Natural gas has spent most of the morning in the red and recently hit a new LoD of $4.36/MMBtu.

Precious metals are modestly higher. May silver is basically flat.. now up 0.1% at $23.27/oz, while June gold is +0.7% at $1401.60/oz.

Copper is showing the worst performance this morning and recently hit a new LoD of $3.11/lb. In current action, May copper is -2.5% at $3.13/lb.DJ30 -44.35 NASDAQ +28.35 SP500 +7.14 NASDAQ Adv/Vol/Dec 1406/509.8 mln/746 NYSE Adv/Vol/Dec 1849/288 mln/893

10:00 am : The S&P 500 has slipped from its opening highs and it now trades with a gain of just 0.2%. Growth-oriented energy, industrial, and technology sectors all trade in the red with the tech space as the biggest laggard.

Disappointing earnings from International Business Machines (IBM 193.61, -13.54) caused the computer company to surrender nearly all of its 2013 gains. Meanwhile, the largest tech stock, Apple (AAPL 387.85, -4.20) has notched a fresh 2013 low of its own.

On the upside, Microsoft (MSFT 29.89, +1.10) is rising 3.8% after beating on earnings.DJ30 -48.71 NASDAQ +15.20 SP500 +3.60 NASDAQ Adv/Vol/Dec 1152/342.3 mln/914 NYSE Adv/Vol/Dec 1569/232.1 mln/1091

09:45 am : The major averages began the session on a mixed note. The S&P 500 is higher by 0.3% while the Dow Jones Industrial Average trades lower by 0.3%.

The underperformance of the Dow comes as General Electric (GE 21.95, -0.72), International Business Machines (IBM 194.09, -13.06), and McDonald's (MCD 100.00, -1.91) all trade in the red after reporting earnings. Notably, the largest Dow component, International Business Machines is down 6.3% after missing on earnings and revenue.DJ30 -48.48 NASDAQ +9.10 SP500 +2.91 NASDAQ Adv/Vol/Dec 1121/247.9 mln/867 NYSE Adv/Vol/Dec 1683/197.1 mln/925

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +16.00. Heading into the open, equity futures signal a higher start to the session. The S&P 500 futures are firmer by 0.4%. The benchmark average is poised to begin the day on a positive note after yesterday's session ended with the S&P closing below its 50-day moving average for the first time this year.

Meanwhile, the Dow futures trade with a gain of just 0.3% with several large components under pressure after reporting earnings. General Electric (GE 22.02, -0.65), International Business Machines (IBM 197.15, -10.00), and McDonald's (MCD 100.23, -1.68) are all down in pre-market action.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +14.50. Equity futures have slipped off their pre-market highs, but they continue to trade with gains. The S&P 500 futures are higher by 0.4%.

With no domestic economic data of note, reaction to quarterly earnings will be in focus after several notable names reported their results.

Google (GOOG 775.85, +9.94) and Microsoft (MSFT 29.65, +0.86) trade higher after both companies beat on earnings. Elsewhere, General Electric (GE 22.02, -0.64) and International Business Machines (IBM 197.00, -10.15) are both seeing pre-market losses. IBM is under pressure after missing estimates while General Electric trades lower despite beating on earnings and revenue.

08:31 am : [BRIEFING.COM] S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +16.00.

U.S. equity futures continue to trade higher with the S&P 500 futures firmer by 0.5%.

Markets across Asia ended higher with Hong Kong's Hang Seng (+2.3%) and China's Shanghai Composite (+2.1%) leading the way as bargain hunters emerged to take advantage of the recent weakness. Japanese Finance Minister Taro Aso suggested he received no objections at the G20 to the current policy measures, including the weak yen. There was no data from the region.

In Japan, the Nikkei closed higher by 0.7% as the weak yen provided a boost. Exporters saw solid gains as Canon added 1.0%, and Sony climbed 1.7%. Elsewhere, real estate developers were strong as Sumitomo Realty & Development gained 2.7% and Mitsui Fudosan edged up 1.0%.
Hong Kong's Hang Seng rose 2.3% to snap its five-day losing streak. Lenovo surged 9.5% on reports the company is looking to purchase IBM's server unit. Elsewhere, real estate developers staged a strong rebound as China Resources Land jumped 5.8% to lead the space higher. The sector has been under pressure as of late due to worries of a Chinese slowdown.
In China, the Shanghai Composite advanced 2.1% as shares gained for the third time in four days. Financials were strong with China Minsheng Bank rallying 4.2% and Citic Securities climbing 3.5%.

European indices trade higher with Germany's DAX underperforming (UNCH). Regional economic data was limited to just a handful of data points. Germany's PPI declined 0.2% month-over-month (+0.1% consensus) while the year-over-year reading rose 0.4% (+0.7% consensus). Italian industrial new orders declined 2.5% month-over-month (-0.8% forecast) while industrial sales decreased 1.0%. In Spain, industrial new orders declined 5.6% year-over-year while the consensus expected the reading to rise 0.2%. The eurozone current account surplus of EUR16.3 billion was ahead of the expected surplus of EUR15.0 billion.

In news, The Italian parliament held a third round of voting in an attempt to elect a new president. However, that vote was unsuccessful.

Germany's DAX trades flat. Electricity provider RWE is down 7.3% after the company's shareholders pushed back against RWE's plan to sell its oil and gas unit.
The United Kingdom's FTSE is rising 0.6% with miners showing relative strength. Eurasian Natural Resources and Vedanta Resources are higher by 3.2% and 4.5%, respectively.
In France, the CAC is higher by 1.4% as most components trade higher. L'Oreal is higher by 3.8% after beating on earnings. On the downside, Cap Gemini and Gemalto trade with respective losses of 1.4% and 2.2%.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +20.00.

U.S. equity futures trade firmly higher amid upbeat overseas trade. The S&P 500 futures are higher by 0.6%.

Looking at overnight developments:

Asian markets settled with gains. Japan's Nikkei added 0.7% while China's Shanghai Composite rose 2.1%, and Hong Kong's Hang Seng settled higher by 2.3%.
Regional economic news was limited to just one data point from Japan.
Japan's All Industries Activity Index increased 0.6% month-over-month against the expected decline of 0.6%.
In news:
Goldman Sachs lowered its expectations for China's full-year 2013 GDP growth to 7.8% from 8.2%.
In Japan, Finance Minister Taro Aso said Japan did not encounter resistance from other G20 members regarding its domestic policy aimed at stimulating inflation.

European indices trade with firm gains across the board. Germany's DAX is rising 0.4%, the United Kingdom's FTSE is higher by 0.6%, and France's CAC is adding 1.5%.
Looking at regional economic data:
Germany's PPI declined 0.2% month-over-month (+0.1% consensus) while the year-over-year reading rose 0.4% (+0.7% consensus).
Italian industrial new orders declined 2.5% month-over-month (-0.8% forecast) while industrial sales decreased 1.0%.
In Spain, industrial new orders declined 5.6% year-over-year while the consensus expected the reading to rise 0.2%.
The eurozone current account surplus of EUR16.3 billion was ahead of the expected surplus of EUR15.0 billion.
In news:
The Italian parliament held a third round of voting in an attempt to elect a new president. However, that vote was unsuccessful.

In U.S. corporate news:

Dell (DELL 13.64, -0.31) is off by 2.2% after reports indicated Blackstone will end its attempt to acquire the computer company.
Google (GOOG 779.11, +13.20) is higher by 1.7% after beating on earnings and reporting revenue in-line with the Capital IQ consensus estimate.
International Business Machines (IBM 198.20, -8.95) is down 4.3% after missing on earnings and revenue.

06:39 am : [BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +21.50.

06:39 am : Nikkei...13316.48...+96.40...+0.70%. Hang Seng...22013.57...+501.10...+2.30%.

06:39 am : FTSE...6284.53...+40.90...+0.70%. DAX...7517.97...+44.20...+0.60%.

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

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

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