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 Post subject: June 18th Tuesday Trade Results - Profit $2040.00
PostPosted: Wed Jun 19, 2013 12:04 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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 @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2250.00 dollars or +45.00 points, Light Crude Oil CL ($CL_F) futures @ ($550.00) dollars or -0.55 points, Gold GC ($GC_F) futures @ $340.00 dollars or +3.40 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $2040.00 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=1533

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.

Stocks Rally As Fed Looms Large

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

NEW YORK (CNNMoney)
U.S. stocks rose for a third day Tuesday after reports on inflation and new home construction eased fears the Federal Reserve is about to slow the pace of its stimulus program.

The Dow Jones industrial average gained 138 points, or 0.9%. That marks the sixth day in a row that the Dow moved up or down more than 100 points.

The S&P 500 edged up 0.8%, while the Nasdaq added 0.9%.

A report on consumer prices showed that inflation remains subdued, while a report on the housing market was mixed.

The data underscored the lackluster outlook for the economy and raised hopes the flow of cheap money from the Fed will continue, said Bruce McCain, chief investment strategist at Key Private Bank.

"Ultimately, prices have to rest on the fundamentals," he said. "But for now the bulls are becoming a bit more emboldened." The absence of inflation, he added, "gives the Fed plenty of room to keep the pedal to the floor."

Gold prices fell more than 1%, extending the metal's recent slide, on tepid inflation data and a stronger dollar.

The Fed is not expected to announce any major change in policy at the end of it's latest two-day meeting, which started Tuesday. But investors are hoping chairman Ben Bernanke will provide some clues about when the central bank could begin tapering the pace of its bond purchases. Bernanke is set to speak at a news conference Wednesday afternoon.

"Some people think they're going to taper tomorrow," said Keith Springer, president of Springer Financial Advisors in Sacramento, Calif. "I think there's zero chance that happens."

Springer said the Fed is more concerned about the threat of deflation, adding that central bankers could decide to boost the $85 billion per month bond-buying program if the economy takes a turn for the worse.

"If they reaffirm that it's not going to happen tomorrow, and that they're going to wait until the fall, I think the market will rally to new highs," said Springer.

* Fear & Greed Index cowers in fear

Meanwhile, there was speculation about who will succeed Bernanke. In a PBS interview that aired late Monday, President Obama told Charlie Rose that Bernanke has "already stayed a lot longer than he wanted, or he was supposed to."

* Fed not expected to taper until December

Sony (SNE) shares climbed 3% after Dan Loeb's Third Point hedge fund increased its stake and is upping the pressure on the company to agree a partial spin-off of its entertainment business.

Nokia (NOK) shares rose after a report in the Financial Times raised speculation about a potential merger with China's Huawei. Meanwhile, shares of BlackBerry (BBRY) rose rose on rumors about a deal with Lenovo (LNVGF)

Shares of Hormel (HRL, Fortune 500) fell after the processed meat company lowered its earnings outlook for the year.

European markets ended mixed, while Asian markets were little changed.

The president of Cyprus has asked the European Union to renegotiate the terms of its $13 billion financial bailout, according to the Financial Times.

Following a summit in Ireland, Obama and other leaders from the world's top 8 economic powers announced new measures to curb tax evasion and money laundering.

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Market Update

4:20 pm : The major averages ended higher across the board as the S&P 500 advanced 0.8%.

Equities climbed steadily since the opening bell as investors prepared for tomorrow's policy decision from the Federal Reserve. Although chatter in recent weeks has included speculation the Fed would look to taper its asset purchases, today's broad gains suggest investors expect mostly reassuring words from Chairman Bernanke at tomorrow's press conference.

All ten sectors ended with solid gains, but today's rally was predicated on the strength of cyclical names.

The industrial space rose 1.3% amid outperformance in transportation and defensive stocks. The Dow Jones Transportation Average advanced 1.0% as 19 of 20 components registered gains. GATX (GMT 48.05, -0.45) was the lone decliner after Stifel Nicolaus downgraded the stock to 'Hold' from 'Buy.'

With regards to defensive stocks, Dow component General Electric (GE 24.33, +0.56) settled higher by 2.4% after forging a strategic partnership with Accenture (ACN 82.93, +0.48). The broader PHLX Defense Index climbed 1.7%.

Discretionary stocks also made a significant contribution to today's rally as the sector displayed broad strength. The lone pocket of weakness was among homebuilders as the group ended in mixed fashion following today's housing data. New home sales for the month of May hit an annualized rate of 914,000, which was short of the 950,000 expected by the Briefing.com consensus.

Notably, single-family starts increased a minuscule 0.3% in May from 597,000 in April to 599,000. This sector tends to be very stable. The lack of solid rebound after 4.2% decline in April could signal a slowdown in overall construction levels.

Interestingly, the financial space was more tentative in its advance, posting a gain of 0.6%. Today's rise helped the sector erase its month-to-date loss.

Meanwhile, this month's top performer, telecom, was able to build on its strength. The sector ended higher by 1.3% to bring it June return to 4.1%.

Treasuries ended the day little changed as investors stood pat ahead of tomorrow's FOMC meeting. The benchmark 10-yr yield ticked up less than one point to 2.182%.

Consumer prices increased 0.1% in May, which was the first increase since February after prices fell 0.2% in March and 0.4% in April. The Briefing.com consensus expected the CPI to increase 0.2%. Surprisingly, the higher-than-expected food and energy prices from the May PPI did not pass through to consumer prices.

Energy prices increased a modest 0.4% in May after falling 4.3% in April. Gasoline prices, which caused the decline in energy prices in April, were unchanged in May. In contrast, energy prices in the PPI rose 1.3% on a 1.5% increase in gasoline costs. Meanwhile, food prices declined 0.1% in May after increasing 0.2% in April. The food at home category, which includes grocery store purchases, fell by 0.3%. That was the largest monthly decline since July 2009. Dairy product prices fell by 0.8%.

Excluding food and energy, core prices rose 0.2% in May, up from a 0.1% gain in both March and April. The consensus expected these prices to increase 0.1%.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET while the FOMC decision is set to cross the wires at 14:00 ET.DJ30 +138.38 NASDAQ +30.05 SP500 +12.77 NASDAQ Adv/Vol/Dec 1729/1.53 bln/749 NYSE Adv/Vol/Dec 2070/646.0 mln/977

3:35 pm : Commodities ended the day mixed with metals ending lower and energy posting gains. Precious metals, however, ended with only modest losses and Aug gold fell $1.62 at $1366.07/oz and July silver ended $0.08 lower at $21.68/oz. July copper lost $0.05 to finish at $3.15.

In the energy patch, July crude oil extended gains, climbing $0.65 in today's pit session to end at $98.46/barrel. July nat gas rose $0.02 to $3.90/MMBtu.DJ30 141.75 NASDAQ +30.47 SP500 +12.82 NASDAQ Adv/Vol/Dec 1713/1286.1 mln/767 NYSE Adv/Vol/Dec 2007/442 mln/1030

3:00 pm : The S&P 500 holds a gain of 0.9% as today's session enters its final hour.

The dollar has been under pressure recently, and that weakness has continued into today. The Dollar Index jumped into positive territory following this morning's data as action tested the 81.00 level, but quickly reversed into the red as equity markets opened up with gains and continued climbing. Action sank to session lows near 80.60, and has held there throughout the afternoon as traders await tomorrow's FOMC meeting.

Although the greenback has displayed mild weakness today, it was able to rally against the Japanese yen. Dollar/yen is higher by 60 pips near 95.25 as trade ticks up for a second session. Buying has developed despite German Chancellor Angela Merkel providing some pushback against the impact Japan's policies have had on foreign exchange. Early buying failed at the 96.00 resistance level, but tomorrow's session will still give the pair a chance for its first three-day winning streak in over a month. Foreign exchange traders will be watching Japan's trade balance, scheduled to be reported at 19:50 ET tonight.DJ30 +152.33 NASDAQ +35.13 SP500 +14.44 NASDAQ Adv/Vol/Dec 1732/1.14 bln/759 NYSE Adv/Vol/Dec 2040/373.4 mln/985

2:30 pm : The S&P 500 trades higher by 0.8% as quiet afternoon action continues. With tomorrow's FOMC press conference on deck, today's trading volume indicates many market participants are favoring the wait-and-see approach.

With just 90 minutes left in today's session, only 334 million shares have changed hands on the floor of the New York Stock Exchange. The market is likely to see a burst of activity in the final minutes, but is likely to end the session on below-average volume.DJ30 +142.39 NASDAQ +33.13 SP500 +13.33 NASDAQ Adv/Vol/Dec 1710/1.05 bln/765 NYSE Adv/Vol/Dec 2024/340.4 mln/986

2:00 pm : Quiet afternoon action continues with the major averages hovering near their best levels of the day.

Small cap stocks traded in line with the broader market through the first two hours. Since then, high-beta names have outperformed the three major indices as the Russell 2000 displays a gain of 1.3%.

Although stocks are near their highs, the CBOE Volatility Index (VIX 16.81, +0.01) is little changed.DJ30 +129.55 NASDAQ +29.17 SP500 +11.51 NASDAQ Adv/Vol/Dec 1691/968.2 mln/776 NYSE Adv/Vol/Dec 1950/307.9 mln/1057

1:30 pm : So far this week, there has been no question that the stock market expects some assurances out of the FOMC meeting that a tapering of the Fed's asset purchase program will occur later rather than sooner.

To this point, the S&P 500 is already up 1.5% for the week and has taken back all of last week's losses and then some. The quick, and substantive, gains imply that losses could be even quicker and more substantive if the FOMC policy directive and remarks from Fed Chairman Bernanke at his press briefing on Wednesday somehow disappoint.

Disappointment just isn't factored into the price action that has seen growth-sensitive (and higher beta) cyclical sectors outperform this week.

Strikingly, though, it is still the defensive-oriented (and lower beta) countercylical sectors that sit atop the leadership rankings on a month-to-date basis: telecom services (+4.0%), consumer staples (+2.4%), health care (+1.6%), and utilities (+1.5%) are all outperforming the S&P 500 (+1.2%). For better or worse, the leadership ranking looks destined to be impacted in the wake of the FOMC decision and Mr. Bernanke's comments. DJ30 +129.40 NASDAQ +29.74 SP500 +11.47 NASDAQ Adv/Vol/Dec 1655/881 mln/795 NYSE Adv/Vol/Dec 1931/275 mln/1055

1:00 pm : At midday, the S&P 500 trades higher by 0.8%.

Equities began the session with modest gains, and continued climbing into the afternoon as investors await tomorrow's Federal Open Market Committee press conference. While Ben Bernanke is not expected to announce significant changes to the Fed's policy stance, market participants will be looking for hints regarding the timing of potential tapering of asset purchases.

Cyclical sectors have been responsible for most of the first-half gains with the industrial space leading the way.

The industrial sector trades higher by 1.0% as defense and transportation names display strength. The PHLX Defense Index sports a gain of 1.3% while the Dow Jones Transportation Average adds 1.1%.

Technology stocks have also had a strong showing with chipmakers on the rise. The PHLX Semiconductor Index is up 1.4%.

Interestingly, the financial space has been a bit more tentative than its growth-sensitive counterparts. Despite today's 0.6% gain, the sector is unchanged in June.

Most defensive groups have flown under the radar today, but the telecom space has continued its recent outperformance. The sector trades higher by 1.3% to extend its June advance to 4.1%.

Also of note, homebuilders trade in mixed fashion following today's housing data.

New home starts increased 6.8% in May from an upwardly revised 856,000 (from 853,000) in April to 914,000. The Briefing.com consensus expected 950,000 new homes to be started in May.

Notably, single-family starts only rose a minuscule 0.3% in May from 597,000 in April to 599,000. This sector tends to be very stable. The lack of solid rebound after 4.2% decline in April could signal a slowdown in overall construction levels.

Separately, consumer prices increased 0.1% in May, which was the first increase since February after prices fell 0.2% in March and 0.4% in April. The Briefing.com consensus expected the CPI to increase 0.2%. Surprisingly, the higher-than-expected food and energy prices from the May PPI did not pass through to consumer prices.

Energy prices increased a modest 0.4% in May after falling 4.3% in April. Gasoline prices, which caused the decline in energy prices in April, were unchanged in May. In contrast, energy prices in the PPI rose 1.3% on a 1.5% increase in gasoline costs. Meanwhile, food prices declined 0.1% in May after increasing 0.2% in April. The food at home category, which includes grocery store purchases, fell by 0.3%. That was the largest monthly decline since July 2009. Dairy product prices fell by 0.8%.

Excluding food and energy, core prices rose 0.2% in May, up from a 0.1% gain in both March and April. The consensus expected these prices to increase 0.1%.DJ30 +133.67 NASDAQ +30.10 SP500 +12.27 NASDAQ Adv/Vol/Dec 1653/796.9 mln/784 NYSE Adv/Vol/Dec 1949/249.2 mln/1016

12:30 pm : The S&P 500 hovers within three points of its best level of the day.

Most defensive sectors have flown under the radar today, but telecom services have shown significant strength. The sector trades higher by 1.3% to extend its June gain to 4.1%. The high-yielding sector has been the top performer of the month, followed by a 2.3% advance in consumer staples.DJ30 +110.27 NASDAQ +22.71 SP500 +9.22 NASDAQ Adv/Vol/Dec 1499/712.3 mln/909 NYSE Adv/Vol/Dec 1770/221.3 mln/1169

12:00 pm : Stocks continue to trade near their highs as the three averages hold gains between 0.6% and 0.7%.

Although all ten sectors can be found in positive territory, the gains in materials and consumer staples have been limited to no more than 0.2%.

Treasuries saw some overnight selling, but received a modest bid around the open to erase about half of their losses. As a result, the benchmark 10-yr yield is higher by one basis point at 2.197%.DJ30 +107.35 NASDAQ +23.70 SP500 +9.56 NASDAQ Adv/Vol/Dec 1527/638.3 mln/870 NYSE Adv/Vol/Dec 1754/198.2 mln/1175

11:35 am : The S&P 500 trades higher by 0.7% after rising to a fresh session high.

Cyclical groups remain atop the leaderboard, but the technology sector has surrendered its spot to industrials and discretionary shares.

The industrial sector has received significant support from transportation-related names as the Dow Jones Transportation Average trades higher by 0.9%.

Elsewhere, the discretionary sector sports a gain of 0.9% even as homebuilders lag. The iShares Dow Jones US Home Construction ETF (ITB 24.18, -0.10) is off by 0.4%.DJ30 +124.63 NASDAQ +28.72 SP500 +11.57 NASDAQ Adv/Vol/Dec 1570/553.3 mln/809 NYSE Adv/Vol/Dec 1792/173.8 mln/1114

11:00 am : The major averages have risen to fresh highs behind the strength of cyclical sectors. The technology space continues to lead with a gain of 0.8% while energy, industrials, and discretionary shares follow closely.

Interestingly, the financial sector, which tends to lead when growth-oriented groups display strength, trades in the middle of the pack.

Also of note, the materials sector trades with a slim gain of 0.2% as metals trade lower. Gold and silver are both down near 1.2% while copper holds a loss of 1.5%. Gold miners have exerted some pressure on the economically-sensitive sector as the Market Vectors Gold Miners ETF (GDX 27.47, -0.72) trades lower by 2.6%.DJ30 +105.34 NASDAQ +24.12 SP500 +8.87 NASDAQ Adv/Vol/Dec 1476/444.2 mln/859 NYSE Adv/Vol/Dec 1631/138.3 mln/1213

10:30 am : Commodities are mixed this morning with energy higher and metals lower. The dollar index is near the unchanged line.

Gold and silver sold off in recent action, falling to new session lows. Aug gold is now down -1.4% at $1364.30/oz, while July silver is -1.2% at $21.49/oz.

Natural gas has been in positive territory all day so far. The energy component hit a new session high of $3.94/MMBtu and is now +1.5% at $3.93/MMBtu.

Crude oil was in the red in the late part of the overnight session and the beginning of the morning session, but rallied into positive territory. July crude oil is now +0.3% at $98.03/barrel.DJ30 +90.01 NASDAQ +18.72 SP500 +7.45 NASDAQ Adv/Vol/Dec 1347/323.2 mln/912 NYSE Adv/Vol/Dec 1597/113 mln/1230

10:00 am : Equities continue to hold their modest early gains while the technology sector solidifies its leadership.

In addition to technology, the early outperformers include energy, telecom services, and consumer discretionary shares. Notably, the advance in the discretionary sector takes place without the participation of home builders after May housing starts and building permits missed expectations. The iShares Dow Jones US Home Construction ETF (ITB 24.03, -0.25) is off by 1.0%.DJ30 +64.83 NASDAQ +13.90 SP500 +4.30 NASDAQ Adv/Vol/Dec 1339/178.3 mln/805 NYSE Adv/Vol/Dec 1423/68.9 mln/1320

09:45 am : The major averages began the session on a higher note, allowing the S&P 500 to climb back to yesterday's highs. The benchmark average trades with a gain of 0.1% as eight of ten sectors advance.

Technology stocks are among the early leaders as the tech sector sports a gain of 0.3%. Chipmakers have shown strength from the open as indicated by the PHLX Semiconductor Index, which trades up 0.7%.

Only two sectors, consumer staples and utilities, hover in the red as they display losses near 0.1%.DJ30 +45.88 NASDAQ +9.04 SP500 +2.18 NASDAQ Adv/Vol/Dec 1303/114.5 mln/753 NYSE Adv/Vol/Dec 1438/53.5 mln/1263

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: +5.20. Equity futures are little changed, signaling a flat start to today's session.

Futures saw little change in reaction to today's economic data. Consumer prices ticked up 0.1% in May while core CPI rose 0.2%, as expected.

Separately, May housing starts rose to an annualized rate of 914,000. Although the figure represented a monthly increase of 6.8%, it fell below the 950,000 expected by the Briefing.com consensus. Meanwhile, building permits declined to 974,000 from the April rate of 1,005,000 (983,000 Briefing.com consensus).

With Ben Bernanke's press conference scheduled for tomorrow, today is likely to bring more speculation regarding the content of the Fed Chairman's speech.

09:00 am : S&P futures vs fair value: +2.10. Nasdaq futures vs fair value: +6.70.

The S&P 500 futures trade higher by 0.1%.

The major Asian bourses ended mixed amid a relatively lackluster session. Japan's Nikkei (-0.2%) slipped amid a rather tame session, for a change. Overnight, at the G8 conference, German Chancellor Angela Merkel pushed back against the new easy money policy of Japan, commenting on the impact on foreign exchange. Data showed Chinese home prices climb 6.0% month-over-month while Hong Kong's unemployment rate ticked down to 3.4% (3.5% previous).

In Japan, the Nikkei closed lower by 0.2% amid a choppy trade. Exporters saw a mixed fate as Toshiba added 1.1% and Panasonic shed 0.5%. Elsewhere, Sony rallied 4.4% after Third Point increased its stake in an effort to make a presentation on a partial spinoff of the company's entertainment unit.
Hong Kong's Hang Seng finished unchanged, giving up early gains. Mainland financials lagged after China's sovereign wealth fund increased its stake in the sector. China Construction base was among the worst performers in the space, shedding 0.5%.
In China, the Shanghai Composite added 0.1% as property developers rallied on the back of the increase in home prices. Gemdale gained 1.7% and Poly Real Estate tacked on 0.2%.

European indices trade in mixed fashion following the release of several economic data points. Eurozone ZEW Economic Sentiment rose to 30.6 from 27.6 (29.4 expected). German ZEW Economic Sentiment improved to 38.5 from 36.4 (38.1 forecast). Elsewhere, Great Britain's CPI rose 0.2% month-over-month (0.1% expected, 0.1% forecast) while input PPI declined 0.3% month-over-month (0.1% forecast, -2.3% prior). Meanwhile, output PPI was unchanged (0.1% expected, -0.2% prior). Lastly, the House Price Index rose 2.6% year-over-year, as expected.

In news, Standard & Poor's has pushed back its expectations for European recovery to 2014. The rating agency had previously believed the region would begin showing signs of recovery in the second half of 2013, but now expects a contraction of 0.5% over the course of the year. Also of note, European new car registrations fell 5.9% in May to reach a new all-time low.

Great Britain's FTSE trades higher by 1.0% as financials outperform. HSBC Holdings and Standard Chartered hold gains near 2.0%. On the downside, miners Eurasian Natural Resources and Fresnillo trade lower by 3.9% and 3.4%, respectively.
Germany's DAX trades up 0.2%. Deutsche Bank trades higher by 0.5% while Commerzbank adds 2.0% after reports indicated the bank plans to cut more than 5,000 jobs. Chemical producers Lanxess and K+S lead to the downside with losses near 1.5%.
In France, the CAC is unchanged as growth-sensitive names lag. Bouygues and Kering are both down near 0.8%.On the upside, BNP Paribas and Credit Agricole trade with gains near 1.0%.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +2.70. Nasdaq futures vs fair value: +6.20. U.S. equity futures continue to register slim gains. The S&P 500 futures are higher by 0.1%.

May consumer prices rose 0.1%, which was below the 0.2% uptick that had been expected by the Briefing.com consensus. This followed the prior month's decline of 0.4%. In addition, core prices rose 0.2%, in line with the Briefing.com consensus.

Separately, housing starts hit an annualized rate of 914,000 units during May. Economists polled by Briefing.com had expected for housing starts to hit an annual rate closer to 950,000. Prior month figures were revised upward to reflect an annualized rate of 856,000 starts. As for building permits, they fell from the prior month's revised rate of 1,005,000 to 974,000 for May. That was below the pace of 983,000 building permits that had been expected among economists polled by Briefing.com.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +4.50.

U.S. equity futures trade slightly higher with the S&P 500 futures up 0.1%.

Reviewing overnight developments:

Asian markets ended in mixed fashion. Japan's Nikkei shed 0.2%, China's Shanghai Composite rose 0.4%, while Hong Kong's Hang Seng settled flat.
In regional economic data:
China's House Prices rose 6.0% (4.9% prior) while Foreign Direct Investment increased 1.0% (1.2% previous).
Japan's capacity utilization increased 1.6% (-0.8% previous) while industrial production increased 0.9% (1.7% expected, 1.7% prior).
South Korea's PPI declined 0.4% month-over-month (-0.3% prior) while the year-over-year reading decreased 2.6% (-2.8% previous).
Hong Kong's unemployment rate declined to 3.4% from 3.5% (3.5% expected).
Looking at news:
Japan's economy minister Akira Amari said the policy of Abenomics has been well received at the ongoing G8 summit.

European indices are mixed as midday nears. Great Britain's FTSE is higher by 0.8%, France's CAC is off by 0.1%, while Germany's DAX trades flat.
Regional economic data was limited:
Eurozone ZEW Economic Sentiment rose to 30.6 from 27.6 (29.4 expected).
German ZEW Economic Sentiment improved to 38.5 from 36.4 (38.1 forecast).
Great Britain's CPI rose 0.2% month-over-month (0.1% expected, 0.1% forecast) while input PPI declined 0.3% month-over-month (0.1% forecast, -2.3% prior). Meanwhile, output PPI was unchanged (0.1% expected, -0.2% prior). Also of note, the House Price Index rose 2.6% year-over-year, as expected.
Looking at news:
European new car registrations fell 5.9% in May to reach a new all-time low.
Standard & Poor's has pushed back its expectations for European recovery to 2014. The rating agency had previously believed the region would begin showing signs of recovery in the second half of 2013, but now expects a contraction of 0.5% over the course of the year.

In U.S. corporate news:

Sony (SNE 21.47, +0.75) trades higher by 3.6% after Third Point increased its stake in the company to 7.0%.

May CPI, core CPI, housing starts, and building permits will all be announced at 8:30 ET.

06:52 am : [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +7.00.

06:52 am : Nikkei...13007.28...-25.80...-0.20%. Hang Seng...21225.88...0.00...0.00.

06:52 am : FTSE...6373.50...+43.00...+0.70%. DAX...8217.73...+2.00...0.00.

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

http://www.thestrategylab.com
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