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 5:00 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: April 29th Monday Trade Results - Profit $1350
PostPosted: Tue Apr 30, 2013 7:00 am 
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:
042913-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1350.00.png
042913-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1350.00.png [ 83.4 KiB | Viewed 272 times ]

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

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 @ $1350.00 dollars or +1.35 points, Gold GC ($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 @ $1350.00 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=1493

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.

S&P 500 Closes At Record High

Attachment:
042913-Key-Price-Action-Markets.png
042913-Key-Price-Action-Markets.png [ 529.76 KiB | Viewed 297 times ]

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

NEW YORK (CNNMoney)
Technology shares sparked a broad rally that boosted the S&P 500 to a record closing high and fueled the tech-heavy Nasdaq to its highest level in more than 12 years.

Apple (AAPL, Fortune 500) was among the top gainers in the Nasdaq-100 and in the S&P 500 following rumors that the iPhone 5S could hit shelves as early as this summer, though the widespread expectation is for a fall release.

Hewlett-Packard (HPQ, Fortune 500), IBM (IBM, Fortune 500) and Microsoft (MSFT, Fortune 500) were the biggest winners in the Dow Jones industrial average, which jumped more than 100 points, or 0.7%.

U.S. stocks are on track to end April with gains this week. That would mark the fourth straight positive month this year.

Stocks have been in the black all day, as investors were encouraged by a much better-than-expected report on pending home sales. Sales jumped 1.5% in March versus the expected 0.1% gain.

Investors were already in a buying mood following the formation of a new Italian government over the weekend, which ended weeks of political deadlock and uncertainty in a country mired by recession.

Italian stocks rallied more than 2% after Enrico Letta was sworn in as Italy's prime minister. The news also pushed Italian bond yields to their lowest levels in more than two years. (More on European markets).

Expectations for a further rate cut from the European Central Bank and continued monetary support from the Federal Reserve later this week were also lending support.

"The ECB meeting may be the most interesting event this week," wrote Marc Chandler, strategist for Brown Brothers Harriman, adding that the ECB indicated earlier this month that if economic data worsened, it was prepared to cut interest rates.

* World's five hottest stock markets

* Video - Gold Pops Due To Weak Dollar

What's moving: Shares of Moody's (MCO), Standard and Poor's parent McGraw Hill (MHP, Fortune 500) and Morgan Stanley (MS, Fortune 500) were big gainers after the firms settled two outstanding lawsuits, dating back to the financial crisis, that accused them of misleading investors about the risks involved with buying bonds backed by subprime mortgages.

J.C. Penney (JCP, Fortune 500) shares rose after the struggling retailer officially said it had secured a $1.75 billion loan from Goldman Sachs. Shares were also boosted by a New York Post report that claimed "at least" two major hedge funds have taken significant stakes in Penney, with one's investment worth over $10 billion.

In other corporate news, JPMorgan Chase (JPM, Fortune 500) announced Sunday that another of CEO Jamie Dimon's key executives, co-chief operating officer Frank Bisignano, is leaving the firm.

Earnings continue to roll in, with controversial supplements company Herbalife (HLF) and gun maker Sturm Ruger (RGR) set to release their quarterly results after the close.

Image


Market Update

4:10 pm : Today proved to be a one-sided affair as equities climbed throughout the session. As a result, the S&P 500 settled higher by 0.7% to notch a fresh record close while the Nasdaq rose 0.9%.

The Nasdaq displayed relative strength from the onset as technology stocks paced today's advance. Major sector components Apple (AAPL 430.12, +12.92), Google (GOOG 819.06, +17.64), and Microsoft (MSFT 32.61, +0.82) all settled with gains of at least 2.5%.

Chipmakers also displayed broad strength as the PHLX Semiconductor Index ended higher by 1.3%.

Although the tech sector was able to register a firm gain, the group was unable to overcome its month-to-date losses as it still holds a loss of 0.3%.

Meanwhile, strength in basic materials producers helped the sector erase its April losses. Steelmakers saw gains across the board and the Market Vectors Steel ETF (SLX 41.96, +0.61) ended higher by 1.5%. Metal prices also provided support as gold rose 1.2% to $1470.70 per troy ounce while copper added 0.7% to $3.211 per pound.

Gains in commodities also helped the energy sector as crude oil rose 1.4% to end at $94.32 per barrel.

Even though three cyclical sectors ended atop today's leaderboard, other growth-oriented groups trailed behind the broader market.

The discretionary sector underperformed as homebuilders and retailers weighed. The SPDR S&P Retail ETF (XRT 73.02, 0.00) ended flat even as J.C. Penney (JCP 17.19, +0.19) advanced 1.1% as reports indicated two hedge funds bought shares of the retailer.

With all ten sectors registering gains, defensively-geared consumer staples and telecom were the weakest performers as both settled higher by 0.3%.

Today's volume was well below average as 598 million shares changed hands on the floor of the New York Stock Exchange.

In the Treasury market, the 10-yr note ended flat with its yield at 1.670% after bouncing around a two point range for the duration of the day.

Looking back on today's economic data, personal income and spending both rose 0.2% in March. The Briefing.com consensus expected income to increase 0.3% and spending to rise 0.1%. The March income and spending data were already incorporated in the first quarter GDP report that was released last Friday. The only new information was that January income growth was revised up to -3.6% from -3.7% and that January spending growth was revised down to 0.3% from 0.4%. The February growth rates were unrevised.

In addition, pending home sales for March rose 1.5%, which was better than the 0.1% increase forecast by the Briefing.com consensus. Today's reading follows last month's decline of 0.4%.

Tomorrow, the first quarter employment cost index will be reported at 8:30 ET while February Case-Shiller 20-city Index and April Chicago PMI will be released at 9:00 ET and 9:45 ET, respectively. The day's economic data will be topped off with the 10:00 ET release of April consumer confidence. On the earnings front, Marathon Petroleum (MPC 82.41, +1.06) and Pfizer (PFE 30.43, +0.34) will report their quarterly results prior to the opening bell.DJ30 +106.20 NASDAQ +27.76 SP500 +11.37 NASDAQ Adv/Vol/Dec 1680/1.47 bln/789 NYSE Adv/Vol/Dec 2215/598.7 mln/791

3:30 pm :

June crude oil advanced during today's pit trade, gaining support from a weaker dollar index. The energy component lifted off its session low of $93.18 per barrel and trended higher as the session progressed. It booked a gain of 1.6% as it settled at $94.46 per barrel, slightly below its session high of $94.69 per barrel.
June natural gas extended Friday's gains as it came off its session low of $4.29 per MMBtu and trended upwards for its entire session. It settled 3.8% higher at its session high of $4.39 per MMBtu.
June gold traded higher during today's floor trade as the weaker dollar index boosted prices. Investors are also awaiting Wednesday's FOMC statement. The yellow metal traded as high as $1476.60 per ounce in early morning floor trade and settled with a 1.0% gain at $1467.70 per ounce. o July silver also spent its entire pit session in the black. It climbed to a session high of $24.48 per ounce and ultimately booked a gain of 1.6% as it settled at $24.17 per ounce.
July corn rose by the daily exchange limit (+ $0.40) today to $6.60 per bushel as planting delays continue, booking a 6.5% gain for the session. The advance also came ahead of the USDA's weekly crop progress report which will be released today at 4:00pm ET.

DJ30 +101.48 NASDAQ +29.60 SP500 +11.46 NASDAQ Adv/Vol/Dec 1663/1167.4 mln/790 NYSE Adv/Vol/Dec 2203/392 mln/801

3:00 pm : The S&P 500 is higher by 0.9% as today's session enters its final hour.

Although stocks trade firmly higher across the board, the risk-on sentiment has been isolated to the equity market. In the Treasury market, the 10-yr note trades flat with its yield at 1.670% after spending the session in a two point range.

Elsewhere, the dollar index has spent the duration of today's action near the bottom of its range. The dollar index is off by 0.4% at 82.17.DJ30 +117.88 NASDAQ +33.93 SP500 +13.51 NASDAQ Adv/Vol/Dec 1666/1.05 bln/777 NYSE Adv/Vol/Dec 2261/347.9 mln/730

2:30 pm : Key averages continue to hover near their best levels of the day and the S&P 500 trades just one point below its record high.

With 90 minutes left in today's session, only 322 million shares have been traded on the floor of the New York Stock Exchange. This puts today's final volume total on pace for a below-average finish after Friday's session also produced a relatively light volume tally.DJ30 +123.08 NASDAQ +34.70 SP500 +13.64 NASDAQ Adv/Vol/Dec 1672/974.1 mln/761 NYSE Adv/Vol/Dec 2238/322.4 mln/717

2:00 pm : Recent action saw the S&P 500 push to fresh session highs as today's top performing sectors extended their gains.

Energy, materials, and technology are all up at least 1.2% with the technology sector leading the way. The SPDR Technology Select Sector ETF (XLK 30.50, +0.46) is rising 1.6% as top sector components push to fresh highs. Apple (AAPL 431.92, +14.72), Google (GOOG 821.13, +19.73), and Intel (INTC 23.77, +0.37) are all up between 1.6% and 3.6%.DJ30 +126.78 NASDAQ +34.09 SP500 +13.93 NASDAQ Adv/Vol/Dec 1676/904.8 mln/741 NYSE Adv/Vol/Dec 2239/298.5 mln/718

1:35 pm : Equities continue to hover near their highs with the S&P 500 firmer by 0.7%. Afternoon trade has been relatively quiet with most sectors maintaining their levels. The materials space was the only exception as the sector climbed to fresh highs.

Producers of basic materials were pressured earlier in the month but today's advance has helped the sector recover its April losses. However, energy, technology, and industrials remain in the red for the month.DJ30 +103.55 NASDAQ +31.86 SP500 +11.79 NASDAQ Adv/Vol/Dec 1638/832.2 mln/755 NYSE Adv/Vol/Dec 2166/273.5 mln/743

1:00 pm : The S&P 500 is higher by 0.8% after spending the first half of today's session in a steady climb. The Nasdaq is the top performing index, trading up 1.0%.

The tech-heavy index has seen notable outperformance as its major components trade with solid gains. Apple (AAPL 432.97, +15.77), IBM (IBM 198.71, +4.40), and Microsoft (MSFT 32.46, +0.67) are all up between 2.1% and 3.8%.

In addition to technology, energy and materials are the only other cyclical groups trading ahead of the broader market. The energy space is higher by 1.1% with crude oil contributing to the strength as the energy component trades with a gain of 1.3% at $94.20 per barrel.

Meanwhile, rising prices of industrial and precious metals have supported the materials sector. As a result, gold miners and steel producers trade firmly higher. The Market Vectors Gold Miners ETF (GDX 30.05, +0.59) is higher by 2.0% while the Market Vectors Steel ETF (SLX 41.71, +0.36) trades up 0.9%.

Other cyclical groups have been a bit more tentative in their advance as consumer discretionary, financials, and industrials trail behind the broader market.

With equities trading firmly higher, the CBOE Volatility Index (VIX 13.42, -0.19) is off by 1.4%, suggesting downside protection is being offered today.

In the Treasury market, the 10-yr note is little changed with its yield holding steady at 1.669%.

In today's economic data, personal income and spending both rose 0.2% in March. The Briefing.com consensus expected income to increase 0.3% and spending to rise 0.1%.

The March income and spending data were already incorporated in the first quarter GDP report that was released last Friday. The only new information was that January income growth was revised up to -3.6% from -3.7% and that January spending growth was revised down to 0.3% from 0.4%. The February growth rates were unrevised.

In addition, pending home sales for March rose 1.5%, which was better than the 0.1% increase forecast by the Briefing.com consensus. Today's reading follows last month's decline of 0.4%.DJ30 +99.13 NASDAQ +33.66 SP500 +11.86 NASDAQ Adv/Vol/Dec 1657/748.1 mln/744 NYSE Adv/Vol/Dec 2175/247.2 mln/740

12:30 pm : The S&P 500 has climbed to fresh session highs as the index now trades with a gain of 0.8%.

The technology sector (+1.7%) has been the top performer from the start with the energy space not far behind. However, the energy sector has since been overtaken by producers of basic materials. The SPDR Materials Select Sector ETF (XLB 39.30, +0.40) is higher by 1.0%.

Notably, the financial sector trails behind the broader market even as other economically-sensitive sectors outperform. The SPDR Financial Select Sector ETF (XLF 18.65, +0.08) is adding 0.5%.DJ30 +93.77 NASDAQ +33.72 SP500 +12.10 NASDAQ Adv/Vol/Dec 1670/682.3 mln/700 NYSE Adv/Vol/Dec 2175/227.4 mln/730

12:00 pm : Recent action saw little change from the major averages as the S&P 500 continues to trade higher by 0.6%.

The bulk of today's gains occurred in the first hour of action as the S&P climbed to last week's highs. Energy and technology have paced the early advance while defensively-geared consumer staples and telecoms remain little changed.

With equities trading firmly higher, the CBOE Volatility Index (VIX 13.46, -0.15) is off by 1.1%.DJ30 +68.56 NASDAQ +28.09 SP500 +9.26 NASDAQ Adv/Vol/Dec 1647/596.8 mln/703 NYSE Adv/Vol/Dec 2102/201.1 mln/774

11:30 am : Equities continue to hover near their highs with the S&P 500 up 0.6%. Meanwhile, the Nasdaq is higher by 0.8% as technology stocks lead.

Although the cyclical technology sector is a clear outperformer, other growth-sensitive sectors trade in mixed fashion. The energy space (+1.0%) is the only other cyclical group trading ahead of the broader market.

On the downside, the industrial sector trails behind the broader market as Boeing (BA 91.92, -0.93) weighs after Barron's published a cautious piece on the aircraft manufacturer.

Consumer staples and telecoms also appear among the laggards as both sectors trade flat.DJ30 +68.73 NASDAQ +26.61 SP500 +8.98 NASDAQ Adv/Vol/Dec 1627/522.3 mln/694 NYSE Adv/Vol/Dec 2081/178.3 mln/771

11:00 am : The major averages continue to trade with gains and the Nasdaq is the leading index, up 0.9%.The outperformance of the tech-heavy index is a result of strong gains registered by major technology companies. Apple (AAPL 428.18, +10.97), IBM (IBM 197.59, +3.28), and Microsoft (MSFT 32.50, +0.71) are all up between 1.7% and 2.6%.

Chipmakers have also shown notable strength as the PHLX Semiconductor Index trades higher by 0.9%.

On the downside, consumer staples and industrials are the two weakest performing sectors as both trade with gains of just 0.2%.DJ30 +73.93 NASDAQ +28.80 SP500 +9.53 NASDAQ Adv/Vol/Dec 1622/418.5 mln/652 NYSE Adv/Vol/Dec 2101/147.3 mln/725

10:30 am : Commodities are mostly higher this morning driven by weakness in the dollar index. Both crude oil and natural gas futures hit new session highs in recent trade. June crude oil is now +0.7% at $93.61/barrel, while June natural gas is +3.5% at $4.37/MMBtu following a quick rally minutes ago.

Metals are also showing gains this morning. June gold is pulling back off its session high and is now +0.9% at $1466.90/oz. May silver is currently +2.1% at $24.25/oz, while May copper is +1.1% at $3.22/lb.DJ30 +66.27 NASDAQ +28.03 SP500 +8.84 NASDAQ Adv/Vol/Dec 1618/340.8 mln/630 NYSE Adv/Vol/Dec 2053/125 mln/733

10:00 am : The S&P 500 is higher by 0.3%.

Pending home sales for March rose 1.5%, which was better than the 0.1% increase forecast by the Briefing.com consensus. Today's reading follows last month's decline of 0.4%.DJ30 +28.67 NASDAQ +17.53 SP500 +4.62 NASDAQ Adv/Vol/Dec 1453/200.5 mln/669 NYSE Adv/Vol/Dec 1882/82.9 mln/801

09:45 am : The S&P 500 is higher by 0.2% after today's session started on an upbeat note.

Growth-sensitive energy and technology are the top performing sectors in the early going while the industrial space trades with a loss of 0.2%. Industrial shares are trading lower with transportation-related stocks underperforming.

The Dow Jones Transportation Average is off by 0.2% as truckers weigh. JB Hunt (JBHT 71.07, -0.49) and Con-way (CNW 33.34, -0.18) are both down near 0.7%. Elsewhere, JetBlue Airways (JBLU 6.81, -0.11) is lower by 1.6% after Bank of America/Merrill Lynch downgraded the stock to 'Neutral' from 'Buy.'

In today's economic data, personal income and spending both rose 0.2% in March. The Briefing.com consensus expected income to increase 0.3% and spending to rise 0.1%.

March pending home sales will be reported at 10:00 ET.DJ30 +14.13 NASDAQ +11.78 SP500 +2.90 NASDAQ Adv/Vol/Dec 1309/107.1 mln/715 NYSE Adv/Vol/Dec 1744/57.4 mln/866

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +7.20. The S&P 500 futures are higher by 0.4% as today's session appears poised for an upbeat start. The positive pre-market sentiment follows upbeat European trade where key indices trade higher across the board.

Domestically, investors are responding to a fair share of quarterly earnings. However, J.C. Penney (JCP 17.73, +0.73) has been the most actively traded stock in today's pre-market action after the New York Post reported two hedge funds took separate stakes in the retailer.

In today's economic data, personal income and spending both rose 0.2% in March. The Briefing.com consensus expected income to increase 0.3% and spending to rise 0.1%. The March income and spending data were already incorporated in the first quarter GDP report that was released last Friday.

The only new information was that January income growth was revised up to -3.6% from -3.7% and that January spending growth was revised down to 0.3% from 0.4%. The February growth rates were unrevised.

Inflation levels softened in March. Headline consumer prices fell 0.1% after increasing 0.4% in February. Core price growth was flat after increasing 0.1% in February.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +6.00.

U.S. equity futures continue to hover near their pre-market highs with the S&P 500 futures firmer by 0.3%.

The major Asian bourses were mixed amid a lackluster session as both Chinese and Japanese markets were shuttered for holiday. Australia's ASX was the top performer, adding 0.6% on light volume. Data from the region was light as South Korea's current account surplus widened to $4.98 billion ($2.71 billion previous).

In Japan, the Nikkei was closed for Showa Day.
Hong Kong's Hang Seng rose 0.2% as financials outperformed. China Construction Bank added 1.1% following its quarterly results while rival ICBC edged up 0.2% after its own release.
In China, the Shanghai Composite was closed for Labor Day.

Major European indices trade higher with peripheral indices leading the way after a new Italian government headed by Enrico Letta was sworn-in over the weekend. However, the ceremonies did not go without a hitch as two Italian police officers were wounded in a shootout with an unemployed man who "wanted to shoot politicians."

Regional economic data was limited to just a handful of reports as Italian business confidence slipped to 87.6 from 88.6 (88.9 consensus). Elsewhere, Spanish retail sales fell 8.9% year-over-year to follow the prior decline of 7.7% (-11.0% consensus). Also of note, the Eurozone Business and Consumer Survey declined to 88.6 from 90.1 (89.3 consensus). Meanwhile, Consumer Confidence improved to -22.0 from -23.5 (-22.0 forecast). Lastly, retail PMI rose to 44.2 from 43.7.

In the United Kingdom, the FTSE is higher by 0.1% as miners display relative strength. Eurasian Natural Resources and Fresnillo are both up near 3.0%.
Germany's DAX is up 0.3% as Volkswagen leads. Shares of the carmaker trade higher by 2.6% after the company said sales at its luxury unit, Volkswagen, have offset some of the shortcomings at the parent company. On the downside, chemical producer BASF is lower by 3.4%.
In France, the CAC is firmer by 0.9% with utilities in the lead. Electricite de France and Veolia Environnement are both up near 2.5%.
Spanish IBEX is higher by 1.2% with financials showing strength. Banco Santander is adding 1.5% after the company said Javier Marin will replace Alfredo Saenz as company Chief Executive Officer.
In Italy, the MIB is rising 1.4% as most components trade in positive territory. Mediaset is the top index performer, up 4.3%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +7.70. U.S. equity futures saw little change in reaction to the latest set of economic data. The S&P 500 futures are higher by 0.4%.

March personal income rose 0.2% while the Briefing.com consensus expected an uptick of 0.3% to follow the prior month's increase of 1.1%. Meanwhile, personal spending climbed 0.2%, ahead of the Briefing.com consensus, which called for an uptick of 0.1% to follow last month's rise of 0.7%.

Lastly, core PCE prices were unchanged to follow last month's increase of 0.1%. The Briefing.com consensus expected the reading to climb 0.1%.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +6.70.

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

Looking at overnight developments:

Asian markets ended the holiday session on a positive note as Hong Kong's Hang Seng rose 0.2% while China's Shanghai Composite and Japan's Nikkei were both closed.
Regional economic data was limited to just one item of note:
South Korea reported a current account surplus of $4.36 billion to follow last month's surplus of $2.71 billion.
In news:
The S. Korean government, along with labor unions, plans to launch a task force aimed at improving employment levels. The country's most recent unemployment rate reading came in at 3.20%.
Reports by the Korean press indicate North Korea is planning to conduct a military exercise along the coast of the Yellow Sea.

Major European indices trade higher with France's CAC outperforming, up 0.8%. Meanwhile, the United Kingdom's FTSE is adding 0.1% while Germany's DAX trades with a gain of 0.3%. On the periphery, Italy's MIB and Spain's IBEX are higher by 1.5% and 1.1%, respectively.
Regional economic data was limited:
Italian business confidence slipped to 87.6 from 88.6 (88.9 consensus). ? Spanish retail sales fell 8.9% year-over-year to follow the prior decline of 7.7% (-11.0% consensus).
The Eurozone Business and Consumer Survey declined to 88.6 from 90.1 (89.3 consensus). Meanwhile, Consumer Confidence improved to -22.0 from -23.5 (-22.0 forecast). Lastly, retail PMI rose to 44.2 from 43.7.
In news:
In Italy, a new government headed by Enrico Letta was sworn-in. However, the weekend ceremonies did not go without a hitch as two Italian police were wounded in a shootout with an unemployed man who "wanted to shoot politicians."
In Spain, Javier Marin will become the new Chief Executive Officer of Banco Santander after the prior CEO, Alfredo Saenz, resigned.

In U.S. corporate news:

J.C. Penney (JCP 17.38, +0.38) is higher by 2.2% after a New York Post article claimed two hedge funds took stakes in the retailer.
Sohu.com (SOHU 51.16, +0.39) is adding 0.8% after beating on earnings and revenue.

March personal income, personal spending, and core PCE prices will all be reported at 8:30 ET while March pending home sales will be announced at 10:00 ET.

06:53 am : [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +5.50.

06:53 am : Nikkei...Holiday......... Hang Seng...22580.77...+33.10...+0.20%.

06:53 am : FTSE...6423.32...-3.20...-0.10%. DAX...7843.98...+29.20...+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

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 2 guests


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