TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 2:22 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: April 25th Thursday Trade Results - Profit $1620
PostPosted: Thu Apr 25, 2013 9:42 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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)

Attachment:
042513-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1620.00.png
042513-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1620.00.png [ 82.69 KiB | Viewed 293 times ]

click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ ($2320.00) dollars or -23.20 points, Light Crude Oil CL ($CL_F) futures @ $3940.00 dollars or +3.94 points, Gold GC ($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 @ $1620.00 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=1491

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 Close Higher

Attachment:
042513-Key-Price-Action-Markets.png
042513-Key-Price-Action-Markets.png [ 529.71 KiB | Viewed 289 times ]

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

NEW YORK (CNNMoney)
U.S. stocks closed slightly higher Thursday, as investors digested a better-than-expected jobless claims report and another influx of corporate earnings.

The Dow Jones Industrial Average rose 0.2%, the S&P 500 added 0.4% and the Nasdaq gained 0.6%.

The U.S. government reported that initial jobless claims dropped to 339,000 in the latest week, significantly lower than the 351,000 claims that economists were predicting.

Trading has been choppy recently as investors take their cues from mixed economic data and company-specific news. The year got off to a great start, so some gyrating is to be expected, though most analysts still expect stocks to keep grinding higher.

In fact, all three indexes are still up between 9% to 13% so far this year as individual investors tentatively step back in. Investors poured $1.7 billion into U.S. stock mutual funds in the week ended April 17, according to the Investment Company Institute.

Related: Fear & Greed Index idling in neutral

Earnings roll in: Exxon Mobil (XOM, Fortune 500) beat earnings forecasts, but sales declined from a year earlier and fell short of estimates.

UPS (UPS, Fortune 500) also reported a jump in quarterly earnings, helped by domestic shipping.

Shares of Safeway (SWY, Fortune 500) tumbled 14%, as investors focused on weaker-than-expected sales even though the grocer reported a higher quarterly profit.

Dow Chemical (DOW, Fortune 500) reported better-than-expected earnings, fueled by sales of agricultural products.

Shares of Zynga (ZNGA) fell nearly 7%, a day after the online gaming company issued a gloomy forecast.

3M (MMM, Fortune 500) was the biggest drag on the Dow, after the company missed profit and revenue expectations and lowered its 2013 earnings outlook.

After the bell, Amazon (AMZN, Fortune 500) reported first-quarter earnings that beat expectations, sending shares higher in after-hours trading. Meanwhile, Starbucks (SBUX, Fortune 500)' profit rose in its fiscal second quarter, and the company raised its full-year guidance.

Related: Twitter flash crash 'is just noise'

In other news, the Chicago Board Options Exchange (CBOE) resumed trading Thursday afternoon after being closed for most of the day due to an apparent software glitch.

Verizon Communications (VZ, Fortune 500) drew attention after Reuters reported the company had hired advisers to look at a possible $100 billion bid to take full control of Verizon Wireless from Vodafone Group (VOD). Vodafone and Verizon declined to comment.

Mixed action in overseas markets: European markets closed higher, following a report that the British economy dodged a triple-dip recession, according to preliminary estimates.

At the same time, Spanish unemployment rose a record to 27.2%, and European car sales sunk to their lowest level since the mid-1990s.

Related: Austerity debate rages in Europe

"With the eurozone recession deepening and global climate looking gloomy in general, I don't think many people are expecting UK growth to kick on from here," said Caxton FX analyst Richard Driver. "Major risks still hang over the UK economy but this certainly brightens the outlook for sterling a little."

Asian markets also ended mixed, with Hong Kong's Hang Seng gaining nearly 1% and Japan's Nikkei up 0.6%. The Shanghai Composite finished 0.9% lower.

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

Oil and gold prices jumped.

The yield on the 10-year Treasury rose to 1.71%.

Image


Market Update

4:10 pm : Equities settled with modest gains as the S&P 500 climbed 0.4% while the Dow added 0.2%.

The S&P was cruising near its highs before a late afternoon headline from German Handelsblatt cited a confidential Bundesbank opinion paper, which strongly opposed the European Central Bank's implementation of Outright Monetary Transactions.

Until the news hit, quarterly earnings were in focus after more than 250 companies covered by Briefing.com reported their results between yesterday's closing bell and today's open.

The Dow underperformed the broader market as two of its largest components weighed. 3M (MMM 104.88, -2.99) lost 2.8% after missing on earnings and revenue. In addition, Exxon Mobil (XOM 88.07, -1.36) shed 1.5% after the company posted a 12.3% year-over-year revenue decline.

The materials sector was a strong performer throughout the day as the SPDR Materials Select Sector ETF (XLB 39.46, +0.43) settled higher by 1.1%. Better-than-expected earnings from Cliffs Natural Resources (CLF 20.95, +2.73) supported other steelmakers as the Market Vectors Steel ETF (SLX 42.06, +0.55) settled higher by 1.3%.

In addition, miners also showed relative strength as precious metals rallied. Gold futures advanced 2.8% to $1462.80 per troy ounce while silver futures spiked 6.2% to $24.25 per troy ounce. Also of note, copper rose 2.8% to $3.247 per pound.

While the materials sector was the clear leader throughout the day, other cyclical groups outperformed as well.

Discretionary stocks were supported by retailers and homebuilders. The SPDR S&P Retail ETF (XRT 73.31, +1.17) added 1.6% while the SPDR S&P Homebuilders ETF (XHB 30.40, +0.42) rose 1.4% on better-than-expected earnings from Ryland Group (RYL 44.94, +3.24) and PulteGroup (PHM 20.79, +1.10). While both builders surpassed bottom-line expectations, revenues proved to be more of a mixed bag as Ryland was able to beat estimates while PulteGroup's top-line fell short of analyst expectations.

Technology stocks showed intraday strength, but the sector sold off into the close as cautious earnings and revenue guidance from Qualcomm (QCOM 62.44, -3.56) weighed.

With most growth-oriented groups contributing to today's advance, defensively-geared sectors lagged behind the broader market. However, the telecom space bucked the trend after reports indicated Verizon Communications (VZ 53.22, +1.42) may be preparing a $100 billion bid to gain full control of Vodafone's (VOD 30.43, +0.84) stake in Verizon Wireless. However, speculation regarding Verizon's attempt to gain full control of Verizon Wireless has circulated before.

Today's economic news was limited to weekly claims data. The initial claims level fell to 339,000 for the week ending April 20 from an upwardly revised 355,000 (from 352,000) for the week ending April 13. The Briefing.com consensus expected the initial claims level to drop to 351,000.

After several weeks of volatility following seasonal adjustment problems associated with the Easter holiday period, the initial claims level has again returned to its previous trend. The Department of Labor announced that the period of large swings in the weekly claims level is ending.

Tomorrow, first-quarter advance GDP will be reported at 8:30 ET while the final April Michigan Sentiment Survey will be released at 9:55 ET.DJ30 +24.50 NASDAQ +20.33 SP500 +6.37 NASDAQ Adv/Vol/Dec 1538/1.86 bln/913 NYSE Adv/Vol/Dec 1950/746.3 mln/1044

3:30 pm :

June crude oil advanced for a second consecutive session on a weaker dollar index and comments that the U.S. believes that Syria has used chemical weapons to some degree. The energy component trended upwards after lifting off a session low of $91.11per barrel and settled with a 2.4% gain at $93.63 per barrel, just below its session high of $93.87 per barrel.
June natural gas rallied to a session high of $4.29 per MBMtu following inventory data that showed a build of 30 bcf when a build of 32 bcf was anticipated. However, prices quickly dropped back towards the breakeven level and were unable to regain momentum. Natural gas eventually settled unchanged at $4.20 per MMBtu.
June gold extended yesterday's gains as a weaker dollar index and data from the IMF showing Russia, Kazakhstan, and other central banks purchased gold in March boosted prices. The yellow metal steadily climbed higher and settled with a 2.7% gain at $1461.90 per ounce, just below its session high of $1464.90 per ounce.
May silver also saw strong buying support during today's floor trade. It lifted off its session low of $23.51 per ounce and advanced as high as $24.25 per ounce. It eventually settled at $24.14 per ounce, booking a solid 5.7% gain.

DJ30 +20.81 NASDAQ +20.59 SP500 +6.13 NASDAQ Adv/Vol/Dec 1549/1603.5 mln/911 NYSE Adv/Vol/Dec 1895/513 mln/1074

2:55 pm : The S&P 500 is higher by 0.6% with 60 minutes left in today's session.

Following the close, more than 100 companies covered by Briefing.com will report their quarterly results. The early part of the earnings season saw most names beat on earnings while strong revenue growth has been more difficult to come by.

Technology names will be in focus this evening when Amazon.com (AMZN 275.13, +6.35), Coinstar (CSTR 54.42, +1.16), and Expedia (EXPE 64.80, +0.62) shed some light on their first-quarter results.

Tomorrow morning, look for Dow component Chevron (CVX 119.26, +0.98) and Goodyear Tire (GT 13.00, +0.50) to report their earnings before the opening bell.DJ30 +46.65 NASDAQ +22.65 SP500 +8.25 NASDAQ Adv/Vol/Dec 1633/1.41 bln/816 NYSE Adv/Vol/Dec 2014/446.4 mln/945

2:30 pm : Quiet afternoon action continues with the S&P 500 higher by 0.7%. The materials space remains in the lead as the SPDR Materials Select Sector ETF (XLB 39.72, +0.69) trades with a gain of 1.8%.

The basic materials sector has been able to add to its intraday strength as precious metals continue to climb higher. Gold futures are now firmer by 3.1% at $1467.90 per troy ounce while silver is jumping 6.4% to $24.30 per troy ounce.

Industrial metals have also been able to register gains as copper trades higher by 3.0% at $3.25 per pound.DJ30 +71.92 NASDAQ +27.00 SP500 +11.64 NASDAQ Adv/Vol/Dec 1666/1.31 bln/771 NYSE Adv/Vol/Dec 2090/414.7 mln/868

2:00 pm : Recent action saw little change from the major averages. The S&P 500 continues to trade higher by 0.8% while the Dow trades with a gain of 0.6%.

The blue chip index trails behind the broader market due to the relative weakness of two major components. 3M (MMM 105.17, -2.70) is lower by 2.6% after missing on earnings and revenue while Exxon Mobil (XOM 88.66, -0.77) is off by 0.9% after the company reported better-than-expected earnings on below-consensus revenue.DJ30 +83.07 NASDAQ +28.67 SP500 +12.58 NASDAQ Adv/Vol/Dec 1666/1.19 bln/760 NYSE Adv/Vol/Dec 2117/377.6 mln/820

1:35 pm : The S&P 500 has climbed to fresh highs, and the index now trades with a gain of 0.8%.

Investors have received some news from Italy during the past 30 minutes as reports indicated Beppe Grillo's Five Star Movement will not support a government led by Enrico Letta. This comes after representatives from the Northern League and the Left Ecology Freedom Party said they will also oppose Mr. Letta's appointment. The iShares MSCI Italy Capped Index ETF (EWI 12.88, +0.06) saw little change in reaction to the news.DJ30 +83.10 NASDAQ +30.77 SP500 +12.62 NASDAQ Adv/Vol/Dec 1673/1.12 bln/738 NYSE Adv/Vol/Dec 2127/357.1 mln/805

1:00 pm : The S&P 500 is higher by 0.7% as the index hovers within a point of its best level of the day.

Similar to yesterday, most of today's outperformers come from cyclical sectors with materials leading the way.

The materials space is higher by 1.5% with steelmakers showing strength after Cliffs Natural Resources (CLF 21.44, +3.22) beat on earnings. Meanwhile, the broader Market Vectors Steel ETF (SLX 42.35, +0.84) is firmer by 2.0%.

With precious metals rebounding from recent weakness, gold miners have also acted in support of the growth-sensitive sector. The Market Vectors Gold Miners ETF (GDX 30.71, +0.48) trades with a gain of 1.6%.

Elsewhere, the discretionary sector is seeing firm gains with retailers contributing to the advance as the SPDR S&P Retail ETF (XRT 73.53, +1.39) trades up 1.9%.

Homebuilders are also among the outperformers following better-than-expected earnings from Ryland Group (RYL 45.02, +3.32) and PulteGroup (PHM 20.92, +1.22). While both were able to surpass bottom-line expectations, revenues proved to be more of a mixed bag as Ryland was able to beat estimates while PulteGroup's top-line fell short of analyst expectations. The SPDR S&P Homebuilders ETF (XHB 30.46, +0.48) is higher by 1.6%.

While countercyclical sectors fill-out the bottom of today's leaderboard, the telecom space has bucked the trend after reports indicated Verizon Communications (VZ 52.96, +1.16) may be preparing a $100 billion bid to gain full control of Vodafone's (VOD 30.45, +0.86) stake in Verizon Wireless. However, speculation regarding Verizon's attempt to gain full control of Verizon Wireless has circulated before.

Today's economic news was limited to weekly claims data. The initial claims level fell to 339,000 for the week ending April 20 from an upwardly revised 355,000 (from 352,000) for the week ending April 13. The Briefing.com consensus expected the initial claims level to drop to 351,000.

After several weeks of volatility following seasonal adjustment problems associated with the Easter holiday period, the initial claims level has again returned to its previous trend. The Department of Labor announced that the period of large swings in the weekly claims level is ending.DJ30 +68.85 NASDAQ +27.88 SP500 +10.95 NASDAQ Adv/Vol/Dec 1663/1.02 bln/729 NYSE Adv/Vol/Dec 2095/325.9 mln/821

12:35 pm : Recent action saw the S&P 500 continue to hover just below its session highs. Sector alignment remains largely unchanged as materials and telecoms both trade with gains of at least 1.0%.

On the downside, the utilities sector displayed some strength shortly after the open. However, the group has since surrendered most of those gains. In addition, consumer staples and health care have been unable to make much headway. The two groups are higher by 0.3% and 0.5%, respectively.DJ30 +69.71 NASDAQ +26.92 SP500 +10.40 NASDAQ Adv/Vol/Dec 1632/938.9 mln/756 NYSE Adv/Vol/Dec 2049/302.5 mln/834

12:05 pm : The S&P 500 is higher by 0.6% as the benchmark average continues to trade near its best levels of the day. Materials and telecoms are the only two sectors trading with gains of at least 1.0%.

The materials sector has shown strength after Cliffs Natural Resources (CLF 21.47, +3.25) beat on earnings. Other steelmakers have piggybacked Cliffs' better-than-expected results as the Market Vectors Steel ETF (SLX 42.41, +0.90) trades higher by 2.2%.

Elsewhere, the telecom space is firmly higher after reports indicated Verizon Communications (VZ 52.87, +1.06) may be preparing a $100 billion bid to gain full control of Vodafone's (VOD 30.42, +0.82) stake in Verizon Wireless. Keep in mind speculation regarding Verizon's attempt to gain full control of Verizon Wireless has circulated before.DJ30 +68.45 NASDAQ +26.72 SP500 +9.78 NASDAQ Adv/Vol/Dec 1639/848.9 mln/721 NYSE Adv/Vol/Dec 2072/276.7 mln/818

11:30 am : Equity indices continue to hover near their best levels of the day as the S&P 500 trades higher by 0.7%. Similar to yesterday's session, today's top performers are the economically-sensitive groups.

Financials, materials, and discretionary stocks all trade ahead of the broader market. Meanwhile, defensively-geared consumer staples, health care, and utilities all trade with gains between 0.1% and 0.3%.

The telecom sector has been able to outperform other defensive groups as Verizon Communications (VZ 52.78, +0.98) trades higher by 1.9% after reports from Reuters indicated the company may be preparing a $100 billion bid to gain full control of Vodafone's (VOD 30.39, +0.79) stake in Verizon Wireless.DJ30 +77.02 NASDAQ +30.32 SP500 +10.93 NASDAQ Adv/Vol/Dec 1684/734.4 mln/671 NYSE Adv/Vol/Dec 2139/245.1 mln/751

11:00 am : Equities have climbed to fresh highs and the S&P 500 is firmer by 0.7%. All ten sectors trade with gains and the economically-sensitive materials space is outperforming notably.

The Materials sector is rising 1.4% as steelmakers and gold miners show relative strength. The Market Vectors Steel ETF (SLX 42.63, +1.12) is higher by 2.7% while the Market Vectors Gold Miners ETF (GDX 30.67, +0.44) trades with a gain of 1.5%.

Precious metals are also enjoying a strong session as gold futures trade higher by 2.0% at $1451.80 per troy ounce while silver futures are up 4.2% to $23.80 per ounce.DJ30 +76.19 NASDAQ +28.95 SP500 +11.14 NASDAQ Adv/Vol/Dec 1668/607.6 mln/638 NYSE Adv/Vol/Dec 2166/205.5 mln/694

10:30 am : Commodities have been gaining some traction in recent trade despite the uptrend in the dollar index.

Precious metals just hit new session highs and June gold is now +2.2% at $1454.90/oz, while May silver is +4.8% at $23.93/oz.

Both crude oil and natural gas sold off earlier this morning and fell into negative territory. Just ahead of the weekly inventory, natural gas was flat at $4.17/MMBtu. Following the data, May nat gas spiked higher and is now +0.5% at $4.19/MMBtu.

June crude oil recovered after selling off, rising back up near $91.80/barrel. In current trade, crude is +0.04% at $91.47/barrel.DJ30 +56.57 NASDAQ +25.39 SP500 +9.26 NASDAQ Adv/Vol/Dec 1655/475.4 mln/586 NYSE Adv/Vol/Dec 2080/164 mln/721

10:00 am : The Dow continues to show little change while the tech-heavy Nasdaq is higher by 0.6%.

Technology stocks have shown early strength despite cautious guidance from Qualcomm (QCOM 62.45, -3.55). Meanwhile, other major sector components trade with gains. Apple (AAPL 410.38, +4.92) and Microsoft (MSFT 32.47, +0.71) are higher by 1.3% and 2.2%, respectively.

Chipmakers are among the best performing tech stocks after Teradyne (TER 16.11, +1.27) beat on earnings and revenue. The broader PHLX Semiconductor Index is higher by 1.2%.DJ30 +17.51 NASDAQ +21.05 SP500 +5.63 NASDAQ Adv/Vol/Dec 1526/262.8 mln/616 NYSE Adv/Vol/Dec 1901/107.9 mln/819

09:50 am : The major averages began the session on an upbeat note. The S&P 500 is higher by 0.2% while the Dow has surrendered its early gains.

The underperformance of the blue chip index comes after 3M (MMM 104.54, -3.33) and Exxon Mobil (XOM 88.15, -1.28) reported earnings. 3M's report was a disappointment as the company missed on earnings and revenue. Meanwhile, Exxon Mobil beat on earnings, but fell short of revenue expectations.

The energy sector is the weakest performer as the SPDR Energy Select Sector ETF (XLE 76.97, -0.28) trades lower by 0.4%.DJ30 -4.32 NASDAQ +19.67 SP500 +3.84 NASDAQ Adv/Vol/Dec 1400/173.8 mln/683 NYSE Adv/Vol/Dec 1674/85.6 mln/991

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +12.00. Equity futures continue to trade with modest gains, signaling a higher start to the cash session. The S&P 500 futures are higher by 0.4%.

The pre-market advance comes on the heels of mixed European trade where Germany's DAX leads the way with a gain of 0.7% after the country's Economy Ministry raised its forecast for 2013 GDP growth to +0.5% from +0.4%.

Domestically, investors are responding to an avalanche of quarterly reports after more than 250 companies covered by Briefing.com reported their results between yesterday's close and today's opening bell. Notably, 3M (MMM 104.27, -3.60) is lower by 3.3% after missing on earnings and revenue. In addition, the company lowered its full-year earnings guidance.

In the tech sector, Qualcomm (QCOM 62.96, -3.04) is down 4.6% after reporting its quarterly results. Although the company's earnings and revenue met analyst expectations, Qualcomm's earnings guidance was on the lower end of estimates.

The latest weekly initial jobless claims count totaled 339,000, which was lower than the 351,000 that had been expected by the Briefing.com consensus. Today's tally was below the prior week count of 355,000. As for continuing claims, they fell to 3.000 million from 3.093 million.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +12.50.

U.S. equity futures continue to hover near their pre-market highs with the S&P 500 futures up 0.4%.

Asian indices finished today's session on a mixed note amid just a handful of notable economic data points. South Korea's GDP rose 0.9% quarter-over-quarter to follow the prior increase of 0.3% (+0.6% consensus). Meanwhile, the year-over-year reading climbed 1.5% against the expectations of a 1.4% uptick. Elsewhere, Hong Kong reported a trade deficit of HKD49.2 billion to follow the prior deficit of HKD34.0 billion (-HKD47.0 billion expected).

In regional news, the South Korean Unification Ministry warned North Korea of potential "grave consequences" if the North shows an unwillingness to discuss the shutdown of the Kaesong Industrial Complex. Also of note, the Korean Chamber of Commerce said roughly half of South Korean companies operating in China saw a decline in their 2012 operating profits.

In Japan, the Nikkei ended higher by 0.6% as cyclical stocks led the way. Nippon Paper Industries jumped 10.6% while Nippon Electric Glass rose 7.1%. On the downside, Canon fell 6.4% after guiding below consensus.
Hong Kong's Hang Seng rose 1.0% amid outperformance from energy names. China Shenhua Energy and CNOOC ended with respective gains of 3.9% and 2.9%.
In China, the Shanghai Composite settled lower by 0.9% as industrials weighed. Jiangsu Wuzhong and Sichuan Golden Summit Group lost 9.2% and 7.5%, respectively. Nanjing Panda Electronics was among the top performers, rising 10.0%.

European indices are little changed with Germany's DAX outperforming (+0.7%) after the Economy Ministry hiked its forecast for 2013 GDP growth to 0.5% from 0.4%. Regional economic data was limited to just a handful of releases. The United Kingdom's GDP rose 0.3% quarter-over-quarter to follow the prior decline of 0.3% (+0.1% consensus). Elsewhere, Spanish unemployment rate rose to 27.16% from the prior reading of 26.02% (26.50% consensus).

In news, German Chancellor Angela Merkel once again voiced her opposition to eurozone deposit insurance. However Ms. Merkel did reiterate her country's support for region-wide banking supervision. Also of note, Italian representatives from the Northern League and the Left Ecology Freedom party said they will not join a government led by Enrico Letta.

The United Kingdom's FTSE is higher by 0.2% with miners showing strength. Antofagasta is firmer by 2.6% and Randgold Resources trades with a gain of 4.7%.
In France, the CAC is adding 0.2% as cyclical names lead. Lafarge is up 3.4% and Technip is higher by 6.0%. On the downside, GDF Suez is lower by 2.4%.
Germany's DAX is firmer by 0.7%. Producers of basic materials are among the leaders as HeidelbergCement and ThyssenKrupp trade with respective gains of 3.9% and 1.3%.
Spain's IBEX is off by 0.4% as financials lag. Banco Santander is down 3.0% after the bank reported disappointing earnings.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +8.30. Nasdaq futures vs fair value: +16.00. Equity futures have ticked to fresh highs following the latest jobless claims data. The S&P 500 futures are higher by 0.5%.

The latest weekly initial jobless claims count totaled 339,000, which was lower than the 351,000 that had been expected by the Briefing.com consensus. Today's tally was below the prior week count of 355,000. As for continuing claims, they fell to 3.000 million from 3.093 million.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +9.00.

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

Looking at overnight developments:

Asian markets ended on a mixed note. China's Shanghai Composite lost 0.9% while Japan's Nikkei gained 0.6% and Hong Kong's Hang Seng rose 1.0%.
Looking at regional economic data:
South Korea's GDP rose 0.9% quarter-over-quarter to follow the prior increase of 0.3% (+0.6% consensus). Meanwhile, the year-over-year reading climbed 1.5% against the expectations of a 1.4% uptick.
Hong Kong reported a trade deficit of HKD49.2 billion to follow the prior deficit of HKD34.0 billion (-HKD47.0 billion expected).
In news:
The South Korean Unification Ministry warned North Korea of potential "grave consequences" if the North shows an unwillingness to discuss the shutdown of the Kaesong Industrial Complex.
The Korean Chamber of Commerce said roughly half of South Korean companies operating in China saw a decline in their 2012 operating profits.

European indices are mixed with Germany's DAX outperforming (+0.7%). Elsewhere, France's CAC and the United Kingdom's FTSE are both higher by 0.1%. On the periphery, Italy's MIB is firmer by 0.5% while Spain's IBEX trades lower by 0.8%.
Regional economic data was limited:
The United Kingdom's GDP rose 0.3% quarter-over-quarter to follow the prior decline of 0.3% (+0.1% consensus).
In Spain, the unemployment rate rose to 27.16% from the prior reading of 26.02% (26.50% consensus).
In news:
German Chancellor Angela Merkel once again voiced her opposition to eurozone deposit insurance. However Ms. Merkel did reiterate her country's support for region-wide banking supervision.
In Italy, representatives from the Northern League and the Left Ecology Freedom party said they will not join a government led by Enrico Letta.

In U.S. corporate news:

3M (MMM 104.00, -3.87) is lower by 3.6% after missing on earnings and revenue. In addition, the company lowered its full-year earnings guidance.
AmerisourceBergen (ABC 54.00, -1.82) is off by 3.3% after missing on earnings and revenue.
Cliffs Natural Resources (CLF 19.38, +1.16) is jumping 6.4% following a mixed earnings report. The steelmaker beat on the bottom-line, but missed revenue expectations.
Qualcomm (QCOM 62.00, -4.00) is down 6.1% after reporting its quarterly results. Although the company's earnings and revenue met analyst expectations, the earnings guidance was on the lower end of estimates.

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

The U.S. Treasury will auction $29 billion in 7-yr notes.

07:13 am : [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +8.20.

07:13 am : Nikkei...13926.08...+82.60...+0.60%. Hang Seng...22401.24...+218.20...+1.00%.

07:13 am : FTSE...6427.65...-4.10...-0.10%. DAX...7785.09...+25.90...+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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr