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 Post subject: May 29th Wednesday Trade Results - Profit $1540
PostPosted: Wed May 29, 2013 10:17 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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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
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
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 @ $1710.00 dollars or +17.10 points, Light Crude Oil CL ($CL_F) futures @ ($200.00) dollars or -0.20 points, Gold GC ($GC_F) futures @ $0.30 dollars or +30.00 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 @ $1540.00 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 of my 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 to its completion...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=117&t=1517

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. Simply, my trade method is applicable for position trading, swing trading and day trading.

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=209&t=1820

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

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.

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Market Update

4:20 pm : The major averages settled with modest losses as the S&P 500 shed 0.7%.

Equities slipped out of the gate as sellers drove the major averages to their lows 90 minutes into the session. This marked the return of bargain hunters, who helped the S&P return to its opening levels. However, the relative weakness of several influential groups kept the benchmark average from regaining its flat line.

Defensively-geared groups bore the brunt of today's selling as consumer staples, health care, telecom, and utilities all ended with losses larger than 1.5%.

Today's 1.5% decline in utilities ran the sector's month-to-date loss to 9.2% while the underperformance of consumer staples caused the sector to surrender all of its May gains.

While countercyclical sectors logged sharp losses, growth-sensitive groups held up generally well.

Financials and technology weathered the early selling as the relative strength of large components allowed the sectors to end little changed.

The financial space benefitted from the gains in Goldman Sachs (GS 162.87, +2.17) as the stock spent the entire day in positive territory before closing near its high.

Elsewhere, tech shares received a boost from key components like Apple (AAPL 444.95, +3.51) and Cisco Systems (CSCO 24.12, +0.23), as well as chipmakers. Intel (INTC 24.27, +0.19) settled higher by 0.8% while the PHLX Semiconductor Index rose 0.3%.

Industrials also outperformed, but the relative strength of the sector overshadowed the weakness of transportation related stocks. The Dow Jones Transportation Average fell 1.1% as 18 of 20 components ended in the red.

Also of note, homebuilders saw broad losses as the SPDR S&P Homebuilders ETF (XHB 31.20, -0.73) dropped 2.4%.

Today's early selling caused the CBOE Volatility Index (VIX 14.86, +0.38) to jump above 15.00% for the first time in over a month as investors adjusted their near-term volatility expectations.

Although below-average volume has been a recurring theme in the market, today's decline occurred on above-average volume as 723 million shares changed hands on the floor of the New York Stock Exchange.

Economic news of the day was limited to the weekly MBA Mortgage Index, which decreased 8.8% to follow last week's decline of 9.8%.

Tomorrow, weekly initial claims and the second estimate of first quarter GDP will be reported at 8:30 ET while April pending home sales will be announced at 10:00 ET.DJ30 -106.59 NASDAQ -21.37 SP500 -11.70 NASDAQ Adv/Vol/Dec 758/1.72 bln/1726 NYSE Adv/Vol/Dec 617/722.9 mln/2452

3:30 pm :

July crude oil fell during today's floor trade as weakness in the equities markets and concerns that the Federal Reserve will cut its stimulus program weighed on prices. The energy component brushed a session high of $95.22 per barrel in early morning pit action put dropped sharply by about 1.5% around 11:00am ET. It continued to trend lower and eventually settled with a 2.0% loss at $93.11 per barrel.
July natural gas also slid into the red and touched a session low of $4.12 per MMBtu despite opening floor trade at the unchanged mark. It managed to erase some of the earlier loss as it inched higher in afternoon action and settled at $4.18 per MMBtu, or 0.9% lower. o Precious metals, however, gained support from a weaker dollar index and rose for the first time in three sessions.
June gold dipped to a session low of $1381.40 per ounce in morning action but trended higher for the remainder of floor trade. It closed 0.9% higher at $1391.20 per ounce, just below its session high of $1392.90 per ounce.
\July silver also lifted off its session low of $22.19 per ounce and trended higher as the session progressed. It brushed a session high of $22.47 per ounce just before settling at $22.45 per ounce with a 1.1% gain.

DJ30 -75.88 NASDAQ -12.67 SP500 -7.35 NASDAQ Adv/Vol/Dec 779/1471.4 mln/1682 NYSE Adv/Vol/Dec 671/501 mln/2381

3:00 pm : The S&P 500 is off by 0.5% as today's session enters its final hour.

In the foreign exchange market, the Dollar Index hovers near 83.70 after yesterday's session saw the index creep above 84.00 for the third time in less than two weeks. The bulk of today's action occurred prior to the open with the index holding in a steady range throughout the session. Today's dollar weakness has given a notable boost to the Swiss franc and the Japanese yen.

The USDCHF pair is off by 130 pips at .9635 after giving up virtually all of yesterday's gains. Near-term support remains in place near .9600 but the .9500 level provides the added support of the 50-day moving average. Tomorrow, Switzerland will release its first quarter GDP report.

Elsewhere, the USDJPY pair is lower by 120 pips near 101.17. Earlier action saw the pair break below support at 101.00 before rising to its current level. On a related note, the Nikkei futures trade lower by 2.7% after being down as much as 3.7% this morning.DJ30 -90.94 NASDAQ -13.81 SP500 -8.96 NASDAQ Adv/Vol/Dec 770/1.33 bln/1708 NYSE Adv/Vol/Dec 629/454.5 mln/2404

2:30 pm : The S&P 500 hovers near its intraday highs after spending the past hour in a steady climb from session lows.

The recent turnaround has received support from financials and technology as the two sectors rose into positive territory. In addition, the energy space has been able to return to its flat line despite the weakness in crude oil. The energy component trades lower by 2.0% at $93.12.

Meanwhile, the other commodity-related sector, materials, has trimmed its loss to 0.2% despite the underperformance of steelmakers. The Market Vectors Steel ETF (SLX 41.22, -0.54) is off by 1.3%.DJ30 -85.97 NASDAQ -13.44 SP500 -8.43 NASDAQ Adv/Vol/Dec 758/1.25 bln/1691 NYSE Adv/Vol/Dec 641/425.4 mln/2397

2:00 pm : Recent action saw the S&P 500 climb to its intraday high as financials and technology crept into positive territory. Other growth-sensitive sectors have been able to trim their losses, but they remain in the red.

Although most groups have retraced a portion of their losses, the discretionary space has not budged as homebuilders continue to weigh. The SPDR S&P Homebuilders ETF (XHB 31.35, -0.58) is off by 1.8% while the discretionary sector trades with a loss of 0.7%.DJ30 -90.58 NASDAQ -15.34 SP500 -8.80 NASDAQ Adv/Vol/Dec 748/1.16 bln/1699 NYSE Adv/Vol/Dec 634/365.3 mln/2395

1:30 pm : The S&P 500 has climbed to its afternoon highs, but the index remains lower by 0.8%.

The recent sell off in Treasuries, and the resulting rise in yields, has received a lot of attention. However, buyers have been more active today, pressuring the 10-yr yield lower by three basis points to 2.136%.

Also of note, the U.S. Treasury has recently completed a $35 billion, 5-yr auction, which drew 1.045% and a slightly less than average bid/cover ratio of 2.79x. A solid bid from both indirects (44.0%) and directs (23.3%) left primary dealers with just 33.7% of the supply.DJ30 -125.70 NASDAQ -25.00 SP500 -13.01 NASDAQ Adv/Vol/Dec 616/1.04 bln/1811 NYSE Adv/Vol/Dec 484/359.5 mln/2551

1:00 pm : At midday, the S&P 500 trades lower by 1.0%.

The first half of today's session has been a one-sided affair as sellers showed up early and drove the major averages to their lows. The S&P has since been able to add about five points, but the index remains near its lows.

Defensive sectors are among today's laggards as all four countercyclical groups (consumer staples, health care, telecom, and utilities) trade with losses between 1.8% and 2.0%. Notably, the weakness in utilities has extended the sector's month-to-date loss to 9.6%.

On the other hand, cyclical sectors have held up relatively well despite the losses in the broader market. The discretionary space has been the weakest of the bunch as the group trades lower by 1.2% with homebuilders leading to the downside. The SPDR S&P Homebuilders ETF (XHB 31.14, -0.79) is off by 2.5%.

Elsewhere, the technology sector has outperformed the broader market as chipmakers advance. Intel (INTC 24.20, +0.20) sports a gain of 0.4% while the PHLX Semiconductor Index adds 0.2%.

The financial sector has been the best performer of the month and its relative strength has continued today. Although the sector holds a slim loss, major components like Bank of America (BAC 13.45, +0.10) and Goldman Sachs (GS 162.99, +2.29) have been able to register gains.

Today's early selling has pushed the CBOE Volatility Index (VIX 15.23, +0.75) to its highest level in a month as market participants adjust their near-term volatility expectations.

Economic data was limited to the weekly MBA Mortgage Index, which decreased 8.8% to follow last week's decline of 9.8%.DJ30 -158.10 NASDAQ -31.17 SP500 -17.10 NASDAQ Adv/Vol/Dec 579/951.1 mln/1856 NYSE Adv/Vol/Dec 419/327.8 mln/2599

12:30 pm : The major averages continue to hover near their recent levels with the Dow and S&P 500 both lower by 0.9% while the Nasdaq outperforms slightly.

The tech-heavy index trades with a loss of 0.7% as the technology sector sheds just 0.3%. The relative strength of Apple (AAPL 443.31, +1.87) and the modest gains in chipmakers have helped the index trade ahead of the broader market. However, another large group, biotech, continues to weigh on the Nasdaq as the iShares Nasdaq Biotechnology ETF (IBB 181.06, -1.97) trades lower by 1.1%.DJ30 -138.30 NASDAQ -24.60 SP500 -14.17 NASDAQ Adv/Vol/Dec 635/871.1 mln/1798 NYSE Adv/Vol/Dec 471/303.1 mln/2539

12:00 pm : Recent action saw the S&P 500 attempt yet another bounce off session lows. Despite the recent upticks, the benchmark average remains lower by 0.8%.

Growth sensitive names have had a mixed showing as financials outperform while discretionary stocks trail behind the broader market. Elsewhere, the Dow Jones Transportation Average trades lower by 0.9% as 17 of 20 components register losses.

Also of note, recent strength in chipmakers has given a boost to the tech sector as the PHLX Semiconductor Index adds 0.2%.DJ30 -116.20 NASDAQ -21.15 SP500 -12.18 NASDAQ Adv/Vol/Dec 620/785.6 mln/1786 NYSE Adv/Vol/Dec 453/276.3 mln/2561

11:30 am : There hasn't been much let up to today's selling as the key indices remain near their lows.

As mentioned earlier, defensive sectors have led to the downside with telecom and utilities both down at least 2.0%.

Cyclical sectors, however, have held up relatively well as financials and technology register slimmer losses than the broader market. Major components of the financial sector trade in mixed fashion as Goldman Sachs (GS 161.96, +1.26) adds 0.8% while JPMorgan Chase (JPM 54.41, -0.19) sheds 0.4%.

Meanwhile, tech shares have received a measure of support from Apple (AAPL 443.00, +1.56) as the largest tech stock trades with a slim gain. In addition, chipmakers have withstood the bulk of the selling as the PHLX Semiconductor Index registers no change.DJ30 -129.20 NASDAQ -25.16 SP500 -14.39 NASDAQ Adv/Vol/Dec 618/696.2 mln/1777 NYSE Adv/Vol/Dec 400/247.1 mln/2601

11:00 am : The S&P 500 trades lower by 1.1% after its brief bounce was met with a second round of selling that pushed the major averages to fresh lows. Defensive sectors continue to lead to the downside as all four counter-cyclical groups trade with losses of at least 1.8%.

Major bank shares displayed early strength, but several sector components have since succumbed to broad market pressure. As a result, the financial sector trades lower by 0.5%.

A steady bid across the Treasury complex has pressured the 10-yr yield lower by two basis points to 2.147% after overnight action saw yields rise as much as 2.226%DJ30 -170.10 NASDAQ -34.12 SP500 -18.08 NASDAQ Adv/Vol/Dec 550/566.7 mln/1795 NYSE Adv/Vol/Dec 358/203.1 mln/2628

10:30 am : Commodities are mostly lower this morning despite weakness in the dollar index. Precious metals are trading higher, helped by an early-morning rally, while copper is trading in the red. Copper just put in a new session low of $3.28/lb. June gold is currently +0.5% at $1385.60/oz and July silver is now 0+.4% at $22.28/oz. July copper is -1.0% at $3.28/lb.

Crude oil rallied just after floor trading opened, rising about $1/barrel rather quickly to the current HoD of $95.22/barrel. Crude briefly moved back into positive territory, but quickly pulled back into the red. In current, action, July crude is -0.3% at $94.74/barrel.

Natural gas futures have been in the red all morning, except for a few minutes in early morning trade, and just hit a new session low of $4.10/MMBtu. June natural gas is now --1.7% at $4.11/MMBtu.DJ30 -116.35 NASDAQ -25.32 SP500 -12.71 NASDAQ Adv/Vol/Dec 636/453.1 mln/1655 NYSE Adv/Vol/Dec 513/165 mln/2420

10:00 am : The major averages continue to hover near their early lows with the S&P 500 down 0.6%. Counter-cyclical sectors have led to the downside as telecom and utilities both trade with losses of at least 1.5%. Meanwhile, the consumer staples sector is lower by 1.2% while health care trades down 0.9%.

The financial sector has held up relatively well in the face of early weakness. Most major components trade in positive territory while the sector holds a slim loss of 0.1%.DJ30 -88.79 NASDAQ -18.35 SP500 -10.00 NASDAQ Adv/Vol/Dec 632/243.4 mln/1583 NYSE Adv/Vol/Dec 569/103.5 mln/2300

09:45 am : The major averages began the session in the red. The S&P 500 trades lower by 0.8% as all ten sectors register losses. Two of yesterday's laggards, utilities and telecom, are among the most notable early underperformers as both sectors trade with losses of more than 1.3%.

On the upside, the technology sector has outpaced the broader market in early action as the sector trades with a loss of 0.5%.

The early market-wide weakness has caused the CBOE Volatility Index (VIX 15.26, +0.78) to jump to its highest level since mid-April.DJ30 -113.40 NASDAQ -22.88 SP500 -13.43 NASDAQ Adv/Vol/Dec 542/164.1 mln/1596 NYSE Adv/Vol/Dec 437/79.2 mln/2346

09:36 am : [BRIEFING.COM] S&P futures vs fair value: -8.20. Nasdaq futures vs fair value: -10.90.

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -10.10. Nasdaq futures vs fair value: -15.50. After adding 0.6% in yesterday's session, the S&P 500 is poised to surrender a portion of those gains once the opening bell rings. The S&P 500 futures trade lower by 0.4% after being down as much as 0.7% in early action.

Major financials are among the pre-market laggards as Citigroup (C 51.30, -0.49), Goldman Sachs (GS 159.51, -1.19), and JPMorgan Chase (JPM 54.17, -0.43) all trade with losses between 0.8% and 1.0%.

On the upside, Smithfield Foods (SFD 32.52, +6.55) has soared 25.3% after the company agreed to be acquired by Chinese Shuanghui Group for $7.1 billion. Per the agreement, Smithfield shareholders will receive $34 per share, representing a 30.9% premium to yesterday's closing price.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: -11.20. Nasdaq futures vs fair value: -17.30.

The S&P 500 futures trade lower by 0.5% after reclaiming a portion of their pre-market losses.

The major Asian bourses saw a mixed session as Japan's Nikkei and China's Shanghai Composite eked out gains of 0.1% and Hong Kong's Hang Seng slid 1.6%. Overnight, Bank of Japan Governor Kuroda spoke in Tokyo, suggesting a stable financial system is critical. Traders continue to keep an eye on Japanese Government Bonds, where more selling ran the 10-yr yield up three basis points to 0.935%. The Bank of Thailand became the latest central bank to cut rates, lowering its key rate 25 basis points to 2.50% (2.50% expected). Elsewhere, data from the region saw Japan's retail sales post a better than anticipated -0.1% year-over-year (-0.4% expected) while Australia's construction work done fell 2.0% quarter-over-quarter (+1.1% expected) and its HIA New Home Sales jumped 3.9% month-over-month.

In Japan, the Nikkei added 0.1%, managing to eke out a gain despite the stronger yen. Exporters were pressured as Cannon shed 0.7% and Sharp sank 3.4%. Elsewhere, financials saw a mixed session amid the volatility in JGBs. Mitsubishi UFJ Financial rallied 1.2% while Sumitomo Mitsui Trust slipped 2.4%.
Hong Kong's Hang Seng finished lower by 1.6% as sellers managed to regain control following two days of gains. Property stocks were hit hard as Sun Hung Kai Properties shed 2.5% and China Resources Land gave up 1.3%.
In China, the Shanghai Composite tacked on 0.1% as shares gained for a fourth straight day. Automakers posted strong gains with FAW Car surging 7.7% as its parent company readies for the sale of Red Flag sedans. Rival SAIC Motor piggybacked the move with a 2.1% advance.

Major European indices have spent the entire session in negative territory after investors received a fair share of economic data. Eurozone private loans declined 0.9% year-over-year (-0.7% consensus, -0.7% prior) while the M3 money supply rose 3.2% year-over-year (2.9% forecast, 2.6% previous). Germany's unemployment change came in at worse-than-expected 21,000 (5,000 consensus, 6,000 prior) while the unemployment rate held steady at 6.9%. The United Kingdom's CBI Distributive Trades Survey declined to -11 from -1 (3 consensus). Elsewhere, Italian business confidence ticked up to 88.5 from 88.3 (87.9 prior). Spanish retail sales fell 4.7% year-over-year (-8.6% forecast, -8.9% previous).

European yields have climbed with Germany's 10-yr higher by four basis points at 1.54%. On the periphery, Italian 10-yr has added nine basis points to 4.10% while Spain's 10-yr yield is higher by seven basis points at 4.36%.

In France, the CAC is off by 1.4% as 38 of 40 components register losses. Industrials and retailers are among the underperformers as Legrand and Carrefour trade with respective losses of 3.8% and 3.2%. On the upside, EADS trades with a gain of 1.0%.
In the United Kingdom, the FTSE trades lower by 1.5% as energy and utility providers lag. Amec is down 2.9% and National Grid sports a loss of 5.2%.
Germany's DAX is down 1.6% as drug maker Bayer leads to the downside with a loss of 2.3%. In addition, financials have shown relative weakness as Allianz and Muenchener Re both trade with losses near 2.0%.

08:31 am : [BRIEFING.COM] S&P futures vs fair value: -11.50. Nasdaq futures vs fair value: -20.30. The S&P 500 futures trade lower by 0.6% amid cautious overseas action. In Europe, the major averages have spent the entire session in the red as the key indices all trade with losses of at least 1.0%. In addition, European sovereign yields are on the rise with Italy's 10-yr higher by 10 basis points at 4.10% while Spain's 10-yr yield adds seven basis points to 4.37%.

In notable pre-market movers, Smithfield Foods (SFD 32.75, +6.78) trades higher by 26.1% after the company agreed to be acquired by China's Shuanghui Group in a transaction valued at $7.1 billion. Per the agreement, Smithfield shareholders will receive $34 per share in cash, representing a 30.9% premium to yesterday's closing price. Peer Tyson Foods (TSN 25.90, +1.09) sports a gain of 4.4%.

08:02 am : [BRIEFING.COM] S&P futures vs fair value: -15.00. Nasdaq futures vs fair value: -26.00.

U.S. equity futures hover near their pre-market lows with the S&P 500 futures lower by 0.7%.

Looking at overseas developments:

Asian markets ended on a mixed note as Hong Kong's Hang Seng lost 1.6% while China's Shanghai Composite and Japan's Nikkei added 0.1% each.
In regional economic data:
Japan's retail sales declined 0.1% year-over-year (-0.4% consensus, -0.3% previous).
South Korea reported a current account surplus of $4.80 billion to follow the previous reported surplus of $4.31 billion.
Australia's MI Leading Index rose 0.2% month-over-month (0.6% prior) while HIA New Home Sales increased 3.9% month-over-month (4.2% previous).
Looking at news:
The International Monetary Fund has lowered its forecast for 2013 Chinese GDP growth to 7.75% from 8.00%, and cut the 2014 outlook to 7.75% from 8.20%.
Japan's economy minister Akira Amari said fiscal rebalancing is the '4th arrow of Abenomics' and must be sought in order to prevent a sharp rise in borrowing costs.

Major European indices trade lower across the board. France's CAC is lower by 1.4%, the United Kingdom's FTSE is off by 1.5%, and Germany's DAX trades down 1.6%.
Looking at regional economic news:
Eurozone private loans declined 0.9% year-over-year (-0.7% consensus, -0.7% prior) while the M3 money supply rose 3.2% year-over-year (2.9% forecast, 2.6% previous).
Germany's unemployment change came in at worse-than-expected 21,000 (5,000 consensus, 6,000 prior) while the unemployment rate held steady at 6.9%.
Italian business confidence ticked up to 88.5 from 88.3 (87.9 prior).
Spanish retail sales fell 4.7% year-over-year (-8.6% forecast, -8.9% previous).
The United Kingdom's CBI Distributive Trades Survey declined to -11 from -1 (3 consensus).
In news:
European yields are on the rise with Germany's 10-yr higher by four basis points at 1.54%. On the periphery, Italian 10-yr has added nine basis points to 4.10% while Spain's 10-yr yield is higher by seven basis points at 4.36%.

In U.S. corporate news:

Smithfield Foods (SFD 32.25, +6.28) trades higher by 24.2% after the company agreed to be acquired by China's Shuanghui Group in a transaction valued at $7.1 billion. Per the agreement, Smithfield shareholders will receive $34 per share in cash, representing a 30.9% premium to yesterday's closing price.
Chico's FAS (CHS 17.90, -1.44) is off by 7.5% after missing on earnings and revenue.
Michael Kors Holdings (KORS 62.50, +0.77) adds 1.2% after beating on earnings and revenue.
Trina Solar (TSL 6.10, -0.69) is down 10.2% following its disappointing earnings and revenue.

The weekly MBA Mortgage Index decreased 8.8% to follow last week's decline of 9.8%.

The U.S. Treasury will auction $35 billion in 5-yr notes.

06:40 am : [BRIEFING.COM] S&P futures vs fair value: -10.50. Nasdaq futures vs fair value: -17.00.

06:40 am : Nikkei...14326.46...+14.50...+0.10%. Hang Seng...22554.93...-369.30...-1.60%.

06:40 am : FTSE...6682.21...-79.80...-1.20%. DAX...8393.07...-87.50...-1.00%.

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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