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 Post subject: June 7th Friday Trade Results - Profit $4035
PostPosted: Fri Jun 07, 2013 1:04 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)
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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 @ $910.00 dollars or +9.10 points, Emini ES ($ES_F) futures @ $3125.00 dollars or +62.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $4035.00 dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
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

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=118&t=1525

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=212&t=1853

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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.

Jobs Number 'Perfect' For Nervous Investors

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

NEW YORK (CNNMoney)
A good, but not great, jobs number managed to spark healthy gains on Wall Street Friday.

The government's monthly report showed the economy added 175,000 jobs in May, more than the 158,000 economists had expected. The unemployment rate edged up to 7.6% from 7.5% in April.

The Dow Jones industrial average rallied more than 200 points, or 1.4%. The S&P 500 and Nasdaq rose 1.3%.

Friday's gains helped push the major indexes into positive territory for the week, following two straight weeks in the red. The Dow and S&P 500 gained 0.9% and 0.8%, while the Nasdaq ticked up 0.4%. The Dow and S&P 500 are about 2% from the record highs they hit last month.

European markets followed U.S. stocks and closed sharply higher.

But stocks have been volatile recently, as investors grapple with concerns about when the Federal Reserve might start to cut back on its stimulus efforts.

What the jobs number means for the Fed: The monthly jobs report is always a big focus, and of particular importance this time around as investors question how long the Fed will continue its bond-buying program in the face of an improving economy.

Fed chief Ben Bernanke has said that the Fed will begin pulling back on its stimulus monetary policies when the job market shows sustainable improvement.

"Today's report is perhaps the perfect number for nervous investors," said James Marple, senior economist at TD Economics. "It is strong enough to point to continued economic recovery, but not so strong as to bring forward expectations of Fed tapering."

Brad Sorensen, director of market and sector research for Charles Schwab, echoed Marple's comments, saying the number fell in the "sweet spot" that takes the possibility of Fed tapering off the table for now.

What's moving: Shares of TiVo (TIVO) plunged almost 20% after the company settled a patent infringement battle with Google's (GOOG, Fortune 500) Motorola Mobility unit.

Wal-Mart (WMT, Fortune 500)rose after the world's biggest retailer announced a $15 billion stock buyback program at its annual shareholder meeting.

Shares of Amazon (AMZN, Fortune 500) jumped after the online retailer began selling the Kindle in China.

Samsung (SSNLF) shares tumbled in Korea as investors worried about slowing sales of the Galaxy S4 smartphone. Future sales could come under even more pressure if rival Apple (AAPL, Fortune 500) announces a trade-in program as reported by Bloomberg.

Japan briefly dips into bear market territory: Asian markets ended the day with losses. Japan's Nikkei index retreated again, at one stage entering bear market territory by extending losses since its May 23 peak to more than 20%. It recovered slightly later in the session to end 0.2% down for the day.

The major indexes in Hong Kong and mainland China fell by just over 1%.

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Market Update

4:20 pm : Equity indices entered the weekend on an upbeat note as the S&P 500 settled higher by 1.3%, ending just three points below its 20-day moving average.

Stocks spent the bulk of today's session near their highs after receiving a pre-market boost from the nonfarm payrolls report.

Nonfarm payrolls increased by 175,000 jobs in May. That was up from a downwardly revised 149,000 (from 165,000) new jobs in April, and ahead of the Briefing.com consensus, which expected nonfarm payrolls to add 159,000 new jobs in May.

Even though payrolls beat expectations, the underlying trends point toward a stable, not upward moving, labor market and a slow-growth economy. Specifically, the increase in jobs was not enough to cause a sizable jump in income levels. That means retail sales growth will likely be soft for a second consecutive month.

Private payrolls added 178,000 jobs in May, up from 157,000 jobs in April, and above the 175,000 expected by the consensus.

The unemployment rate ticked up to 7.6% in May from 7.5% while the consensus expected the unemployment rate to remain at 7.5%.

The increase, however, was the result of improving confidence in economic conditions. The labor force increased by 420,000, topping the 319,000 increase in the number of employed.

While the headline number surprised to the upside, the increase in the unemployment rate suggests the Federal Reserve will maintain its accommodative policy course in the immediate term.

Cyclical sectors ended among the leaders as financials, industrials, and discretionary shares all gained more than 1.7%.

The industrial sector stood out as transportation and defense companies rallied broadly. The Dow Jones Transportation Average settled higher by 2.4% as 11 of 20 Index components added more than 2.0%. Airlines received clearance for take-off with United Continental (UAL 32.94, +2.27) soaring 7.4%. Contributing to United's outperformance was a Goldman Sachs upgrade of the stock to 'Neutral' from 'Sell.'

With regards to defense names, the PHLX Defense Index rose 1.9%.

The discretionary sector added 1.8% as retailers provided a measure of support to the growth-oriented space. Gap (GPS 42.09, +1.11) jumped 2.7% after reporting May same store sales growth of 8.0% while the broader SPDR S&P Retail ETF (XRT 78.32, +1.23) rose 1.6%.

Many of today's outperformers included recent laggards. Homebuilders saw early gains, but ended the day in mixed fashion. The iShares US Home Construction ETF (ITB 23.82, +0.06) ended with just a slim gain of 0.3%.

Elsewhere in high-beta land, small cap stocks trailed behind the broader market throughout the session as the Russell 2000 gained 0.8%.

Interestingly, the materials sector rallied despite weakness in metals. Gold fell 2.6% to $1378.40 per ounce while silver dropped 5.2% to $21.52 per ounce. For its part, copper declined 1.6% to $3.267 per pound. Steelmakers also lagged as the Market Vectors Steel ETF (SLX 40.16, -0.14) shed 0.4%.

The CBOE Volatility Index (VIX 15.03, -1.60) fell early, and remained near its lows after spiking to its highest level in more than three months.

Today's nonfarm payrolls report sparked daylong selling across the Treasury complex. As a result, the benchmark 10-yr yield rose nine basis points to 2.175%.

Looking at today's leftover economic data, the average workweek remained at 34.5 in May after a slight upward revision in April (from 34.4). Average hourly earnings growth was flat.

According to the Federal Reserve, consumer credit increased by $11.1 billion in April. This follows the prior month's revised increase of $8.4 billion, and is lower than the $13.2 billion that had been broadly expected among economists polled by Briefing.com.

There is no economic data of note scheduled for a Monday release.

Week in Review: Stocks Wobble Ahead of Jobs Data

On Monday, The major averages registered modest gains with the Dow Jones Industrial Average leading the way, adding 0.8%. The Nasdaq eked out a gain of 0.2% while the S&P 500 climbed 0.5%. The Dow outperformed as Merck (MRK 48.19, -0.41) and Intel (INTC 24.59, -0.06) boosted the price-weighted index from the opening bell. Merck rose 3.8% after the company presented the interim results of one of its trials while Intel gained 4.0% following the weekend public debut of its fourth generation processors.

Tuesday's session ended in negative territory as the S&P 500 shed 0.6%. Equities opened the session on an upbeat note as the Dow Jones Industrial Average appeared poised for its 21st consecutive Tuesday of gains. However, that changed midway through the trading day when the major averages dipped into the red, where they remained until the close. The afternoon weakness left eight of the ten sectors in the red, but was most noticeable among cyclical groups as energy, financials, and industrials lost between 0.6% and 0.9%.

The S&P ended Wednesday's session with a loss of 1.4% after steady selling persisted throughout the day. All ten sectors ended in the red as declining issues outpaced advancers by a 4.4 to 1 ratio. Cyclical groups were among the main casualties of today's selloff as four of six growth-oriented sectors saw losses in excess of 1.6%. The materials space fell 2.1% amid sector-wide weakness. Only gold miners were able to escape the selling pressure as the Market Vectors Gold Miners ETF (GDX 28.99, -1.31) added 0.3%.

On Thursday, the S&P 500 settled higher by 0.9% despite having to endure early weakness brought on by volatility in the foreign exchange market. The Dollar Index faced heavy selling pressure into the early afternoon, and was down as much 1.8% before bouncing off its 200-day moving average. Although many currencies were boosted by the dollar selloff, none was greater than the strength of the Japanese yen, which at its best levels was up more than 3.0% against the greenback at 95.89. The significant movements in the foreign exchange market were followed by chatter suggesting a forced liquidation trade may have been the culprit behind the sharp downdraft in the dollar.DJ30 +207.50 NASDAQ +45.16 SP500 +20.82 NASDAQ Adv/Vol/Dec 1648/1.60 bln/866 NYSE Adv/Vol/Dec 2096/729.4 mln/932

3:30 pm : July crude oil rose alongside the equity markets following better-than-anticipated nonfarm payrolls data released this morning. The energy component pushed off its session low of $93.72 per barrel and broke into positive territory to touch a session high of $96.39 per barrel. It settled 1.4% higher at $96.05 per barrel, booking a solid 4.5% gain for the week.

July Natural gas chopped around just above the unchanged line for most of its pit session. It touched a session high of $3.85 per MMBtu but settled flat at $3.83 per MMBtu, or 3.8% lower than last week's closing price.

Aug gold, on the other hand, fell sharply following the jobs report. The yellow metal slid off its session high of $1416.90 per ounce and brushed a session low of $1377.10 per ounce by late morning action. It then traded slightly above that level and settled with a 2.3% loss at $1383.00 per ounce. Today's decline brought losses for the week to 0.8%.

July silver sold off below the $22.00 per ounce mark during today's floor session. Prices tumbled from a session high of $22.65 per ounce to as low as $22.61 per ounce. Unable to gain momentum, silver settled the session 4.4% lower at $21.71 per ounce, booking a 2.4% loss for the week.DJ30 +166.49 NASDAQ +38.29 SP500 +15.98 NASDAQ Adv/Vol/Dec 1607/1.27 bln/880 NYSE Adv/Vol/Dec 1959/453.4 mln/1020

3:00 pm : The S&P 500 trades higher by 1.0% as today's session enters its final hour.

According to the Federal Reserve, consumer credit increased by $11.1 billion in April. This follows the prior month's revised increase of $8.4 billion, and is lower than the $13.2 billion that had been broadly expected among economists polled by Briefing.com.DJ30 +164.15 NASDAQ +35.89 SP500 +15.62 NASDAQ Adv/Vol/Dec 1567/1.18 bln/913 NYSE Adv/Vol/Dec 1964/410.5 mln/1029

2:30 pm : The S&P 500 has slipped to fresh afternoon lows, but continues to hold a gain of 0.7%.

After yesterday's volatility in the foreign exchange market rippled out to bonds and equities, today's movements in currencies were a bit more subsided. The Dollar Index registers sports an advance of 0.2% after yesterday's selloff found support at the 200-day moving average.

The bulk of today's dollar strength has come at the expense of the Japanese yen. Dollar/yen is higher by about 20 pips near 97.43. The pair crossed below yesterday's lows in morning action, dipping to 95.03, before today's economic data sparked a 270 pip rally.

The Federal Reserve will release the April Consumer Credit Report in 30 minutes.DJ30 +136.15 NASDAQ +30.34 SP500 +12.02 NASDAQ Adv/Vol/Dec 1523/1.09 bln/941 NYSE Adv/Vol/Dec 1862/376.1 mln/1102

2:00 pm : Equities remain near their highs with the S&P 500 up 0.9%.

Several recent underperformers are responsible for a portion of today's gains. The industrial sector continues to lead as transportation-related components show notable strength. The Dow Jones Transportation Average trades higher by 2.3%, and today's strength has helped the bellwether complex erase its week-to-date loss.

Elsewhere, biotechnology has provided a measure of support to the health care sector. The iShares Nasdaq Biotechnology ETF (IBB 178.28, +3.10) is higher by 1.8% today, but remains down 0.7% this week.DJ30 +157.89 NASDAQ +34.36 SP500 +14.76 NASDAQ Adv/Vol/Dec 1628/1.01 bln/826 NYSE Adv/Vol/Dec 1988/342.6 mln/976

1:30 pm : Afternoon action has slowed down considerably as the major averages continue to hover near their highs. The S&P 500 has spent the past three hours within a six point range as cyclical groups remain in the lead.

While the equity market hasn't shown much change recently, the bond market has been a bit more active. Steady selling across the Treasury complex has caused the 10-yr yield to climb eight basis points to 2.167%.DJ30 +165.72 NASDAQ +35.47 SP500 +15.64 NASDAQ Adv/Vol/Dec 1622/934.4 mln/813 NYSE Adv/Vol/Dec 2005/315.7 mln/950

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

The major averages began the session with solid gains after receiving a pre-market boost from the nonfarm payrolls report.

Nonfarm payrolls increased by 175,000 jobs in May. That was up from a downwardly revised 149,000 (from 165,000) new jobs in April, and ahead of the Briefing.com consensus, which expected nonfarm payrolls to add 159,000 new jobs in May.

Meanwhile, private payrolls added 178,000 jobs in May, up from 157,000 jobs in April and above the 175,000 expected by the consensus.

Also of note, the unemployment rate ticked up to 7.6% from 7.5%, with the rise resulting from improving confidence in economic conditions. The labor force increased by 420,000, topping the 319,000 increase in the number of employed.

While the headline number surprised to the upside, the increase in the unemployment rate suggests the Federal Reserve will maintain its policy course in the near term.

The markets rallied around this news with cyclical groups pacing the advance into midday. The industrial sector has outperformed other growth-sensitive areas as transportation-related names show notable strength. The Dow Jones Transportation Average registers a gain of 2.3% as 18 of 20 components add at least 1.0%.

Discretionary shares have followed closely behind industrials as retailers and homebuilders display strength. The SPDR S&P Retail ETF (XRT 78.02, +0.93) and the SPDR S&P Homebuilders ETF (XHB 30.49, +0.20) sport respective advances of 1.2% and 0.6%.

Notably, the materials sector trades higher by 0.7% despite weakness in commodities. Gold and silver hold respective losses of 2.3% and 3.8% with the bulk of the decline coming after today's data. In addition, copper trades down 1.5% to $3.269 per pound.

Interestingly, small caps have trailed behind the broader market since the open, with the Russell 2000 up 0.7%.DJ30 +164.95 NASDAQ +35.90 SP500 +15.39 NASDAQ Adv/Vol/Dec 1616/866.5 mln/825 NYSE Adv/Vol/Dec 1990/291.8 mln/927

12:30 pm : The S&P 500 continues to hover in a relatively narrow range just below its best level of the day.

Cyclical sectors have strengthened their leadership over the broader market as energy, financials, industrials, and discretionary shares add between 1.0% and 1.6%.

On the downside, the telecom space holds a slim loss of 0.3% after its standout performance yesterday. In addition, the utilities sector is higher by just 0.1%, and remains little changed on the week.DJ30 +182.42 NASDAQ +34.69 SP500 +16.49 NASDAQ Adv/Vol/Dec 1607/798.1 mln/814 NYSE Adv/Vol/Dec 2034/267.8 mln/890

12:00 pm : The S&P 500 has retreated from its most recent high, but the index continues to hold a gain of 1.0%.

Notably, the materials sector trades higher by 0.8% despite weakness in commodities. Gold and silver hold respective losses of 2.5% and 4.3% with the bulk of the decline coming after today's nonfarm payrolls report. In addition, copper trades down 1.5% to $3.269 per pound.

Steelmakers have held up relatively well as the Market Vectors Steel ETF (SLX 40.45, +0.15) adds 0.4%. However, the same cannot be said for gold miners. The Market Vectors Gold Miners ETF (GDX 29.28, -1.02) is lower by 3.4%.DJ30 +172.67 NASDAQ +34.37 SP500 +16.68 NASDAQ Adv/Vol/Dec 1630/723.6 mln/770 NYSE Adv/Vol/Dec 2079/243.8 mln/832

11:30 am : The S&P 500 is higher by 1.2% while the Dow outperforms. The price-weighted index trades with a gain of 1.3% as 28 of its 30 components advance. AT&T (T 35.60, -0.21) and Intel (INTC 24.63, -0.02) are the only exceptions as the two sport respective losses of 0.6% and 0.1%.

AT&T enjoyed a strong session yesterday, but fell below its 200-day moving average today. Meanwhile, Intel displays a slim loss to continue its recent weakness.DJ30 +200.05 NASDAQ +37.61 SP500 +19.49 NASDAQ Adv/Vol/Dec 1663/638.1 mln/719 NYSE Adv/Vol/Dec 2136/216.6 mln/770

11:00 am : The major averages continue to hover near their highs. The S&P 500 trades with a gain of 0.9% as five of ten sectors add at least 1.0%.

The industrial space has jumped into the lead as transportation-related shares outperform notably. All 20 components of the Dow Jones Transportation Average have shown solid gains as the bellwether complex trades up 2.3%.

Industrials are being closely followed by consumer discretionary shares as retailers rally. The SPDR S&P Retail ETF (XRT 78.06, +0.97) is higher by 1.2%.DJ30 +165.07 NASDAQ +28.00 SP500 +14.86 NASDAQ Adv/Vol/Dec 1581/514.6 mln/750 NYSE Adv/Vol/Dec 2017/177.2 mln/864

10:35 am : Commodities are volatile this morning, including gold, silver, crude oil and copper following the jobs numbers.

Crude oil sold off hard this morning, falling below the $94 level. However, it reversed just as fast, erasing those losses and running to a new HoD of $95.80/barrel. In current action, July crude is +1.0% at $95.70/barrel.

Natural gas futures have been in positive territory all morning so far. July nat gas is now +0.3% at $3.84/MMBtu.

Precious metals sunk lower this morning. Gold fell near the $1380 area and silver fell below the $22 mark. Currently, Aug gold is -2.2% at $1384.70/oz, while July silver is sitting -3.2% at $21.98/oz. July copper is -1.2% at $3.28/lb.DJ30 +161.65 NASDAQ +25.87 SP500 +15.20 NASDAQ Adv/Vol/Dec 1536/406.8 mln/754 NYSE Adv/Vol/Dec 1977/147 mln/858

10:05 am : The S&P 500 trades with a gain of 0.7% after the index rose to a fresh high.

The consumer staples sector has extended its gain to 1.2% while the other early leader, health care, now adds 1.0%.

Growth-sensitive sectors have been a bit more tentative in their advance. The discretionary group registers a gain of 1.0% while materials and technology continue to lag.

As a result of the early gains in equities, the CBOE Volatility Index (VIX 15.47, -1.16) hovers in the red after ending yesterday's session at a multi-month high.DJ30 +109.39 NASDAQ +16.94 SP500 +11.21 NASDAQ Adv/Vol/Dec 1446/249.2 mln/783 NYSE Adv/Vol/Dec 1767/101.4 mln/993

09:45 am : The major averages began the session on a higher note after receiving a boost from the nonfarm payrolls report, which indicated 175,000 jobs were added in May.

The S&P 500 trades higher by 0.3% as seven of ten sectors hover in positive territory with health care and consumer staples in the lead. The two groups are both up near 0.7%.

On the downside, the telecom space is off by 0.3% while the technology sector displays little change. The largest tech component, Apple (AAPL 435.23, -3.23) trades lower by 0.7%.DJ30 +51.06 NASDAQ +6.37 SP500 +4.99 NASDAQ Adv/Vol/Dec 1318/145.6 mln/838 NYSE Adv/Vol/Dec 1544/72.1 mln/1163

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +11.20. Nasdaq futures vs fair value: +13.20. The S&P 500 futures trade higher by 0.7% as today's session sets up for a higher open. The bulk of the pre-market gains followed today's May nonfarm payrolls report, which pointed to the addition of 175,000 jobs. However, the unemployment rate ticked up to 7.6% from 7.5% due to an increase in the labor force participation rate.

The bond market displayed volatility following the release, but eventual selling across the Treasury complex ran the 10-yr yield higher by three basis points to 2.115%.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +10.70.

U.S. equity futures hover near their pre-market highs with the S&P 500 futures up 0.5%.

Asian markets endured another rough session as most major indices registered losses. Following the sharp yen rally during the U.S. session, Japan's Finance Minister Taro Aso said there are no plans for an immediate intervention in the foreign exchange markets. In addition the Health Ministry said it will allow its pension fund to diversify its holdings away from bonds. Regional economic data was limited to just a handful of reports. Japan's Leading Index climbed to 99.3 from 97.9 (98.8 expected). South Korea revised its first quarter GDP reading down to 0.8% from 0.9% (0.9% expected). Also of note, Australia's AIG Construction Index ticked up to 35.3 from 35.2.

In Japan, the Nikkei closed lower by 0.2% after being down as much as 2.9% before staging a sharp rebound to the tune of nearly 500 points. The notable spike off the lows was attributed to a large ETF purchase by the Bank of Japan. Exporters Bridgestone and Isuzu both lost near 4.8% while Tokyo Electric Power Company rallied 8.4%.
Hong Kong's Hang Seng lost 1.2% amid weakness in financials as Bank of China and HSBC Holdings settled lower by 8.0% and 1.5%, respectively. On the upside, Belle International Holdings rose 2.8%.
In China, the Shanghai Composite declined 1.3% as cyclical names lagged. Tianjin Marine Shipping and Zhuhai Boyuan Investment both lost near 10.0%.

Major European indices trade near their session highs. In regional economic data, the German trade surplus climbed to EUR17.7 billion from EUR17.6 billion (EUR17.2 billion forecast). Meanwhile, industrial production increased 1.8% month-over-month (-0.2% expected, +1.2% prior). Also of note, the German Bundesbank has lowered its 2013 and 2014 GDP forecasts. This year's GDP expectations were lowered to growth of 0.3% versus the prior expectation of +0.4%. Meanwhile, the 2014 forecast was lowered to +1.5% from +1.9%. Elsewhere, the French budget deficit widened to EUR66.8 from EUR31.0 billion. In addition, the trade deficit was reported at EUR4.5 billion (-EUR4.7 billion expected, -EUR4.5 billion prior). The United Kingdom's trade deficit narrowed to -GBP8.2 billion from -GBP9.2 billion (-GBP8.8 billion expected).

In the United Kingdom, the FTSE is higher by 0.2% as miners outperform. Fresnillo and Glencore Xstrata trade with respective gains of 4.1% and 1.6%. Financials are among the laggards as HSBC Holdings registers a loss of 1.2%.
Germany's DAX trades up 0.7% as insurers display strength. Allianz and Muenchener Re trade higher by 0.8% and 1.4% respectively. The strength comes after lower-than-expected losses from the recent floods.
In France, the CAC adds 0.6% amid strength in industrials and materials. Vallourec and Vinci are both up near 2.0%.

08:34 am : [BRIEFING.COM] S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +5.00. Equity futures jumped to their highs in reaction to a better-than-expected headline nonfarm payrolls number.

May nonfarm payrolls came in at 175K versus the 159K expected by the Briefing.com consensus. Nonfarm private payrolls added 178K against the 175K consensus. The unemployment rate was reported at 7.6%, worse than the Briefing.com consensus which expected the rate to remain unchanged at 7.5%.

Hourly earnings were unchanged while the Briefing.com consensus expected an uptick of 0.2%. Average workweek was reported at 34.5, which was in-line with the Briefing.com consensus.

08:02 am : [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: -3.70.

U.S. equity futures trade slightly lower amid cautious overseas action. The S&P 500 futures display a loss of 0.1% with some volatility expected to surround the 8:30 ET release of May nonfarm payrolls. The Briefing.com consensus expects the reading to come in at 159,000.

Looking at overnight developments:

Major Asian indices ended lower across the board. Japan's Nikkei shed 0.2%, Hong Kong's Hang Seng lost 1.2%, and China's Shanghai Composite fell 1.3%.
In regional economic news:
Japan's Leading Index climbed to 99.3 from 97.9 (98.8 expected).
South Korea revised its first quarter GDP reading down to 0.8% from 0.9% (0.9% expected).
In Australia, the AIG Construction Index ticked up to 35.3 from 35.2.
Looking at news:
Japan's Nikkei endured yet another volatile overnight session. The index was down as much as 2.9% before staging a sharp rebound to the tune of nearly 500 points. The notable spike off the lows was attributed to a large ETF purchase by the Bank of Japan. In addition the Health Ministry said it will allow its pension fund to diversify its holdings away from bonds.

Major European indices trade in mixed fashion. Germany's DAX is off by 0.2%, the United Kingdom's FTSE trades flat, and France's CAC registers a slim gain of 0.1%.
Looking at regional economic data:
German trade surplus climbed to EUR17.7 billion from EUR17.6 billion (EUR17.2 billion forecast). Meanwhile, industrial production increased 1.8% month-over-month (-0.2% expected, +1.2% prior).
The French budget deficit widened to EUR66.8 from EUR31.0 billion. In addition, the trade deficit was reported at EUR4.5 billion (-EUR4.7 billion expected, -EUR4.5 billion prior).
The United Kingdom's trade deficit narrowed to -GBP8.2 billion from -GBP9.2 billion (-GBP8.8 billion expected).
In news:
The German Bundesbank has lowered its 2013 and 2014 GDP forecasts. This year's GDP expectations were lowered to growth of 0.3% versus the prior expectation of +0.4%. Meanwhile, the 2014 forecast was lowered to +1.5% from +1.9%.

In U.S. corporate news:

Gap (GPS 41.55, +0.57) trades up 1.4% after reporting May same store sales growth of 8.0%.
Intel (INTC 24.48, -0.17) is off by 0.7% after Piper Jaffray downgraded the stock to 'Underweight' from 'Neutral.'

In addition to the previously mentioned nonfarm payrolls report, May nonfarm private payrolls, the unemployment rate, hourly earnings, and the average workweek will all be revealed at 8:30 ET. The day's economic news will be topped off by the 15:00 ET report on April consumer credit.

06:51 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -5.00.

06:51 am : Nikkei...12877.53...-26.50...-0.20%. Hang Seng...21575.26...-263.20...-1.20%.

06:51 am : FTSE...6317.42...-10.50...-0.30%. DAX...8045.16...-53.70...-0.70%.

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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