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 Post subject: July 16th Tuesday Trade Results - Profit $4737.50
PostPosted: Tue Jul 16, 2013 11:55 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 @ $2030.00 dollars or +20.30 points, Emini ES ($ES_F) futures @ $2437.50 dollars or +48.75 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $270.00 dollars or +2.70 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $4737.50 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=119&t=1555

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=214&t=1883

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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.

S&P 500 Slips From Record, Breaks 8-Day Win Streak

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

NEW YORK (CNNMoney)
U.S. stocks fell modestly Tuesday as investors considered a batch of mixed corporate results.

Investors were largely sidelined ahead of Wednesday's testimony from Federal Reserve Chairman Ben Bernanke.

The Dow Jones industrial average, S&P 500, and Nasdaq finished down between 0.2% and 0.4%, pulling back from the record closing highs reached a day earlier.

The day's losses followed eight consecutive positive days for the S&P 500 and Nasdaq, and three straight up days for the Dow.

Waiting for Bernanke: Investors are waiting for Bernanke's semi-annual testimony to Congress on monetary policy Wednesday. The Fed has been a central focus of the market ever since Bernanke hinted that the central bank could pull back its massive bond buying program later this year if the economic recovery remains on pace.

The Fed's stimulus measures have been widely considered to be among the biggest drivers of the four-year-old bull market.

The testimony will likely be the last for Bernanke, whose term as Fed chief expires in January. Most expect the chairman to take a cautious tone.

"Members of Congress will be looking for reassurance that by tapering asset purchases, the Fed will not send the U.S. economy into a downward spiral and to do so, Bernanke will stress that there will still be plenty of underlying stimulus in the economy," said Kathy Lien, a managing director at BK Asset Management.

"While Bernanke could point to recent improvements in the U.S. labor market as reasons for why they plan to shift monetary policy, areas of weakness such as retail sales will force the Fed Chairman to acknowledge that the economy still needs help," she added.

* 401(k) balances at record high

A mixed bag of earnings: Investors continue to keep an eye on earnings Tuesday as a number of big firms reported results.

Goldman Sachs (GS ) shares fell even after the Wall Street firm said that its quarterly earnings doubled from a year earlier, with a boost from investment banking.

Coca-Cola (KO, Fortune 500) shares slipped after the company reported a drop in profit from a year earlier due to weak European sales.

Johnson & Johnson (JNJ, Fortune 500) announced a jump in quarterly sales but a decline in earnings.

Yahoo reported mixed results after the bell Tuesday. While the company's profit rose more than expected, revenue came in below forecasts as the display ad business remained weak. Shares of Yahoo (YHOO, Fortune 500) declined in after-hours trading.

In other corporate news, shares of Baidu (BIDU), China's leading search engine, climbed after the company signed a $1.9 billion deal to acquire NetDragon, a Chinese online gaming company.

Inflation remains tame, housing continues to improve: The Consumer Price Index increased 0.5% in June, according to the U.S. Bureau of Labor Statistics. Economists had expected the government's key inflation measure to rise 0.3%.

Builder confidence continued to improve for the third consecutive month in July, rising to the highest level since January 2006, according to the National Association of Home Builders and Wells Fargo Housing Market index.

World markets: On the international front, European markets closed in the red. Asian markets ended mostly higher, with Tokyo's Nikkei jumping up 0.6% and closing at the highest level since late May.

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4:15 pm : The S&P 500 ended lower by 0.4% to snap its streak of eight consecutive gains. Today's decline marked only the third time this month where the S&P registered a loss, and first with a decline of more than one point.

Heavily-weighted sectors, including financials and health care, pressured the broader market despite better-than-expected quarterly results from Goldman Sachs (GS 160.24, -2.76) and Johnson & Johnson (JNJ 90.40, 0.00). In addition, market participants appeared cautious ahead of tomorrow's testimony by Fed Chairman Ben Bernanke in front of the House Financial Services Committee. Mr. Bernanke's prepared remarks are set to be released at 8:30 ET and the testimony is scheduled to begin at 10:00 ET.

Cyclical sectors underperformed with energy and materials leading to the downside. The energy space shed 0.6% while crude oil slipped 0.5% to $105.78 per barrel. In addition, cautious second quarter guidance issued by Marathon Petroleum (MPC 69.93, -3.17) weighed on the sector.

Although producers of basic materials trailed behind the broader market (-0.8%), most of the weakness was contained to chemical producers after Mosaic (MOS 54.12, -2.01) reported in-line results but disappointed on potash pricing. Meanwhile, steelmakers and gold miners displayed relative strength with the Market Vectors Steel ETF (SLX 39.74, +0.31) and Market Vectors Gold Miners ETF (GDX 25.65, +1.36) rising 0.8% and 5.6%, respectively. On a related note, gold futures climbed 0.6% to $1291.60 per troy ounce.

Elsewhere, discretionary shares suffered from broad weakness as homebuilders and retailers lagged. The iShares Dow Jones US Home Construction ETF (ITB 22.97, -0.14) jumped after the July NAHB Housing Market Index surpassed expectations (57 actual, 51 expected), but surrendered its gains shortly thereafter. With regard to retailers, the SPDR S&P Retail ETF (XRT 80.66, -0.56) slumped 0.7%. While most cyclical groups ended firmly in the red, the technology sector continued its recent outperformance amid general strength. The group ended little changed and held its July gain of 5.1%.

Defensively-oriented sectors finished in mixed fashion. Telecom services outperformed with a gain of 0.6% while health care and utilities each lost 0.5%. For its part, the consumer staples sector ended in-line with the broader market. Sector component Coca-Cola (KO 40.23, -0.78) shed 1.9% after missing on revenue.

Treasuries were confined to a narrow range, and the benchmark 10-yr yield ended lower by two and a half basis point at 2.532%.

June consumer prices rose 0.5%, which was above the 0.3% uptick that had been expected by the Briefing.com consensus. This followed the prior month's increase of 0.1%. The jump in prices was mostly a result of a 6.3% increase in the gasoline index. In addition, core prices rose 0.2%, in line with the Briefing.com consensus.

Industrial production increased 0.3% in June, which was in-line with the consensus estimate. That followed on the heels of an unchanged reading for May and was driven by a 0.3% increase in manufacturing production and a 0.8% jump in the output at mines. The output of utilities decreased 0.1%.

Lastly, the May net long-term TIC flows report indicated a $27.2 billion outflow of foreign capital from U.S. denominated assets. This followed the prior month's $37.3 billion outflow.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while June housing starts and building permits will be announced at 8:30 ET. At 14:00 ET, the Federal Reserve will release its Beige Book for July. On the earnings front, Abbott Labs (ABT 35.70, +0.22) and Bank of America (BAC 13.92, +0.04) will report their quarterly results before the opening bell.DJ30 -32.41 NASDAQ -8.99 SP500 -6.24 NASDAQ Adv/Vol/Dec 1107/1.52 bln/1360 NYSE Adv/Vol/Dec 1046/617.1 mln/1944

3:35 pm :

Aug crude oil slipped into the red after trading as high as $106.90 per barrel in early morning action. Unable to regain momentum, it settled 0.3% lower at $106.00 per barrel
Aug natural gas lifted from its session low of $3.61 per MMBtu set moments after pit trade opened and touched a session high of $3.71 per MMBtu. It eventually settled with a 0.3% gain at $3.68 per MMBtu
Precious metals traded higher today, gaining support from a weaker dollar index
Aug gold advanced to a session high of $1294.70 per ounce and settled at $1290.10 per ounce, or 0.5% higher
Sep silver spent afternoon pit action trading in a consolidative pattern near the $19.93 per ounce level. It then settled with a 0.5% gain at $19.94 per ounce

DJ30 -38.43 NASDAQ -11.10 SP500 -7.24 NASDAQ Adv/Vol/Dec 1096/1301.9 mln/1368 NYSE Adv/Vol/Dec 976/412 mln/1988

3:00 pm : The S&P 500 continues to hold its levels, but the Dollar Index (-0.7%) has dropped to a fresh low after a recent Wall Street Journal article discussed the variables that will help the Federal Reserve determine the right time to modify the pace of its asset purchase program. The article mentioned the labor market, inflation, and fiscal policy as the three items, which will contribute to the Fed's decision-making process.

These factors have already been discussed extensively in the past and the Fed Chairman Bernanke's testimony in front of the House Financial Services Committee will likely touch on these issues as well. The testimony is scheduled to begin tomorrow at 10:00 ET.DJ30 -37.63 NASDAQ -11.98 SP500 -7.20 NASDAQ Adv/Vol/Dec 1070/1.16 bln/1399 NYSE Adv/Vol/Dec 991/364.5 mln/1966

2:30 pm :

Aug crude oil slipped into the red after trading as high as $106.90 per barrel in early morning action. Unable to regain momentum, it settled 0.3% lower at $106.00 per barrel
Aug natural gas lifted from its session low of $3.61 per MMBtu set moments after pit trade opened and touched a session high of $3.71 per MMBtu. It eventually settled with a 0.3% gain at $3.68 per MMBtu
Precious metals traded higher today, gaining support from a weaker dollar index
Aug gold advanced to a session high of $1294.70 per ounce and settled at $1290.10 per ounce, or 0.5% higher
Sep silver spent afternoon pit action trading in a consolidative pattern near the $19.93 per ounce level. It then settled with a 0.5% gain at $19.94 per ounce

DJ30 -36.71 NASDAQ -10.32 SP500 -6.83 NASDAQ Adv/Vol/Dec 1077/1293.3 mln/1374 NYSE Adv/Vol/Dec 982/408 mln/1984

2:30 pm : Recent action saw the S&P 500 continue its climb off the lows. So far, the benchmark index has been able to cut its losses in half with technology shares contributing to the rebound effort. Major components like Apple (AAPL 428.77, +1.33), Intel (INTC 24.24, +0.30), and Microsoft (MSFT 36.35, +0.18) have notched fresh highs and the PHLX Semiconductor Index has extended its gain to 0.4%.

Elsewhere, Treasuries have been trapped in a narrow range throughout the day. The benchmark 10-yr yield is lower by two basis points at 2.53%.DJ30 -32.04 NASDAQ -10.21 SP500 -6.39 NASDAQ Adv/Vol/Dec 1063/1.08 bln/1394 NYSE Adv/Vol/Dec 982/334.4 mln/1969

2:00 pm : The major averages continue to languish near their lows with the S&P 500 off by 0.5%. Commodity-related sectors have shown the most weakness today as energy and materials both hold losses near 0.9%. In the materials sector, chemical producers are broadly lower while steelmakers and miners outperform. On a related note, gold futures are higher by 0.6% at $1290.50 per troy ounce.

In addition, the industrial sector trades lower by 0.7% as defense contractors trail behind the broader market while transportation-related names outperform. The PHLX Defense Index trades down 0.8%.DJ30 -45.68 NASDAQ -11.14 SP500 -8.13 NASDAQ Adv/Vol/Dec 1032/985.1 mln/1412 NYSE Adv/Vol/Dec 913/305.1 mln/2027

1:30 pm : The major averages are on the defensive today as some air is being let out of the rally that has seen the S&P 500 gain as much as 8.0% since its intraday low on June 24.

The move to take some profits has been driven in part by the lack of buying interest following the better-than-expected earnings results from Goldman Sachs (GS 160.00, -3.00) and Johnson & Johnson (JNJ 90.30, -0.10), and the large jump in the NAHB Housing Market Index for July (from 52 to 57), which signals improving confidence among home builders.

In other words, good news isn't carrying the market higher, so it has served as a cue for traders to take some money off the table. Some angst ahead of Fed Chairman Bernanke's testimony tomorrow in front of the House Financial Services Committee is probably also factoring in to today's selling efforts. DJ30 -65.43 NASDAQ -16.38 SP500 -10.32 NASDAQ Adv/Vol/Dec 962/916 mln/1481 NYSE Adv/Vol/Dec 810/282 mln/2114

12:55 pm : Equities have spent the first half of the session in a steady slide off their opening levels. The S&P 500 is lower by 0.5% as heavily-weighted energy, financial, and discretionary sectors pressure the broader market. The three cyclical groups trade with losses between 0.5% and 0.7% with energy leading to the downside.

The energy sector has been pressured, in part, by Marathon Petroleum (MPC 69.79, -3.31), which lowered its second quarter earnings guidance below consensus. Meanwhile, crude oil is off by 0.1% at $106.20 per barrel.

Elsewhere, the financial sector sports a loss of 0.5% even after Goldman Sachs (GS 160.20, -2.80) delivered an earnings beat on above-consensus revenue. However, given Goldman's 7.4% July gain going into today's report, some profit taking should not be too surprising.

Discretionary shares have suffered from broad weakness as homebuilders and retailers lag. The iShares Dow Jones US Home Construction ETF (ITB 22.97, -0.14) saw a brief pop after the July NAHB Housing Market Index surpassed expectations (57 actual, 51 expected). However the ETF has since returned to its lows. With regards to retailers, the SPDR S&P Retail ETF (XRT 80.56, -0.66) is lower by 0.8%.

Also of note, Johnson & Johnson (JNJ 90.40, 0.00) beat on earnings, but the stock has surrendered all of its early gains. Meanwhile, the health care sector trades in-line with the S&P 500.

Another defensively-geared group, consumer staples, is slightly outperforming the broader market despite Coca-Cola's (KO 40.42, -0.59) revenue miss. Peer PepsiCo (PEP 84.08, -0.64) holds a loss of 0.8%.

The past hour saw the S&P 500 trim its losses by about two points, but further gains are likely to be dependent on the afternoon performance of major sectors. Market breadth remains negative as declining issues on the NYSE outpace advancers by a 2:1 ratio.

June consumer prices rose 0.5%, which was above the 0.3% uptick that had been expected by the Briefing.com consensus. This followed the prior month's increase of 0.1%. The jump in prices was mostly a result of a 6.3% increase in the gasoline index. In addition, core prices rose 0.2%, in line with the Briefing.com consensus.

Industrial production increased 0.3% in June, which was in-line with the consensus estimate. That followed on the heels of an unchanged reading for May and was driven by a 0.3% increase in manufacturing production and a 0.8% jump in the output at mines. The output of utilities decreased 0.1%.

Lastly, the May net long-term TIC flows report indicated a $27.2 billion outflow of foreign capital from U.S. denominated assets. This followed the prior month's $37.3 billion outflow.DJ30 -43.78 NASDAQ -11.66 SP500 -7.89 NASDAQ Adv/Vol/Dec 1056/838.1 mln/1387 NYSE Adv/Vol/Dec 933/258.8 mln/1993

12:30 pm : Equities are attempting to climb off their lows but, so far, the S&P 500 has only been able to regain two points. Most individual sectors continue to trade in the red with the exception of telecom services as the group adds 0.5%.

Of the remaining nine sectors, the tech space holds the slimmest loss (-0.1%). The sector has received some support from its largest component Apple (AAPL 427.84, +0.40) as well as chipmakers. The PHLX Semiconductor Index is higher by 0.2%.DJ30 -32.48 NASDAQ -9.40 SP500 -6.41 NASDAQ Adv/Vol/Dec 1058/781.3 mln/1371 NYSE Adv/Vol/Dec 955/242.2 mln/1961

12:00 pm : The S&P 500 has continued its steady slide and the index now trades lower by 0.5%. Negative market breadth has persisted since the open and, at this point, declining issues listed on the New York Stock Exchange have outpaced advancers by a 2.4:1 ratio.

Only the telecom sector (+0.6%) continues to trade in positive territory while the remaining nine groups register losses with energy, financials, and discretionary shares leading to the downside.

Elsewhere, the Treasury market has been relatively quiet today and the benchmark 10-yr yield is little changed at 2.54%.DJ30 -42.32 NASDAQ -15.13 SP500 -7.88 NASDAQ Adv/Vol/Dec 955/694.9 mln/1479 NYSE Adv/Vol/Dec 823/219.4 mln/2050

11:30 am : Recent action saw the key indices slip to fresh lows. The S&P 500 is off by 0.4% as influential energy and discretionary sectors weigh on the broader market.

The discretionary sector (-0.6%) has been pressured by retailers as the SPDR S&P Retail ETF (XRT 80.69, -0.53) trades lower by 0.6%. Elsewhere, the energy sector holds a loss of 0.6% while crude oil sheds 0.2%. The energy component trades at $106.13 per barrel.

Meanwhile, another commodity-related sector, materials, is lower by 0.5%. Chemical producer Mosaic (MOS 54.48, -1.65) trades down 3.0% after reporting in-line results.DJ30 -36.88 NASDAQ -11.88 SP500 -6.60 NASDAQ Adv/Vol/Dec 986/594.7 mln/1405 NYSE Adv/Vol/Dec 878/190.1 mln/1993

11:00 am : The major averages hover near their lows with the S&P 500 off by 0.2%. The technology sector holds a slim gain of 0.1% while the remaining growth-sensitive groups trade in negative territory.

Meanwhile, the telecom services sector (+0.6%) is the top performer after displaying weakness yesterday. Other countercyclical groups are among the laggards as consumer staples, health care, and utilities hold losses between 0.2% and 0.6%. Coca-Cola (KO 40.03, -0.98) has pressured staple stocks after missing revenue expectations. The health care sector had received an early boost from Johnson & Johnson (JNJ 90.37, -0.03) after the company beat on earnings, but JNJ has since surrendered its gains.DJ30 -18.63 NASDAQ -4.94 SP500 -3.54 NASDAQ Adv/Vol/Dec 1055/461.8 mln/1280 NYSE Adv/Vol/Dec 1005/154.5 mln/1802

10:35 am : Commodities are mixed this morning, with the dollar index lower and near its LoD, as metals are higher and energy is modestly lower.

Today, crude oil rose as high as 107.18/barrel in early morning trade, but have since pullback over $1/barrel in less than three hours. Natural gas has been volatile this morning and has recovered back near the unchanged line off its LoD following a steep sell-off.

Aug crude oil futures are -0.2% at $106.13/barrel. Aug nat gas is -0.1% at $3.67/MMBtu.

Precious metals continue to hold their gains, while copper remains strong as well. In current trade, Aug gold is +0.7% at $1292.80/oz, while Sept silver is +0.6% at $19.97/oz. DJ30 -8.69 NASDAQ -2.58 SP500 -2.34 NASDAQ Adv/Vol/Dec 1061/374.2 mln/1208 NYSE Adv/Vol/Dec 1069/130 mln/1701

10:00 am : The S&P 500 is lower by 0.1%.

The July NAHB Housing Market Index rose to 57 from 52. Today's report was ahead of the 51 expected by the Briefing.com consensus.DJ30 -10.13 NASDAQ -0.46 SP500 -1.61 NASDAQ Adv/Vol/Dec 1032/202.8 mln/1158 NYSE Adv/Vol/Dec 1091/85.1 mln/1622

09:45 am : The major averages have dipped into the red after opening the session in positive territory. The S&P 500 is off by 0.1% as consumer staples (-0.8%) lead to the downside after Coca-Cola (KO 39.71, -1.30) reported in-line earnings on lower-than-expected revenue.

Elsewhere, Johnson & Johnson (JNJ 91.37, +0.97) has provided some support to the health care sector after beating on earnings.

Also of note, Goldman Sachs (GS 162.50, -0.50) beat on top and bottom lines, but the stock trades lower by 0.3%. Meanwhile, the broader financial sector trades flat.

The NAHB Housing Market Index for July will be released at 10:00 ET.DJ30 -12.71 NASDAQ -1.21 SP500 -2.43 NASDAQ Adv/Vol/Dec 952/116.2 mln/1165 NYSE Adv/Vol/Dec 970/62.6 mln/1684

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +0.70. Nasdaq futures vs fair value: +1.70. Equity futures are little changed as today's session sets up for a flat open. Action around the globe has painted a mixed picture with major Asian indices registering modest gains while European markets hover in the red.

Investors focused on quarterly earnings this morning. Coca-Cola (KO 39.85, -1.16) trades lower by 2.8% after reporting in-line earnings on below-consensus revenue. Elsewhere, Goldman Sachs (GS 164.69, +1.69) is higher by 1.0% after beating on earnings and revenue.

June consumer prices rose 0.5%, which was above the 0.3% uptick that had been expected by the Briefing.com consensus. This followed the prior month's increase of 0.1%. In addition, core prices rose 0.2%, in line with the Briefing.com consensus.

Just reported, June industrial production rose 0.3%, which was in-line with the Briefing.com consensus. Meanwhile, capacity utilization hit 77.8%, which was slightly better than the 77.7% expected by the Briefing.com consensus.

09:02 am : [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +2.20. The S&P 500 futures are flat.

Asian markets ended in mixed fashion as Japan's Nikkei led with a gain of 0.6% after being closed on Monday. Meanwhile, India's Sensex was among the notable laggards, falling 0.9% after the Reserve Bank of India raised its lending rates for banks and announced plans to drain liquidity from the system. In Japan, economy minister Akira Amari said the country will try to create an environment for a sales tax rise. On a related note, reports out of Nikkei News indicate bonuses at Japanese corporations have increased by about 1.6%, on average. Elsewhere, the Reserve Bank of Australia released the Minutes from its latest policy meeting. The Minutes were perceived as somewhat hawkish with the RBA suggesting the decline in the Australian dollar was appropriate and inflation was in-line with the central bank's medium-term target. Economic data was limited to New Zealand's CPI, which ticked up 0.2% quarter-over-quarter (0.3% expected, 0.4% prior).

In Japan, the Nikkei gained 0.6% as Tokyo Electric Power led the way with a gain of 12.6%. On the downside, carmakers Mitsubishi Motors and Suzuki Motor both lost near 1.8%. In addition, Fast Retailing dropped 3.2%.
Hong Kong's Hang Seng finished unchanged. Casino and gaming names ended among the leaders as Sands China and Tencent Holdings settled with respective gains of 1.0% and 2.6%. Property names underperformed with China Resource Land and Hang Lung Properties losing 3.0% and 2.3%, respectively.
In China, the Shanghai Composite ended higher by 0.3% after climbing out of the red in the final minutes of the session. Industrials TDG Holdings, Gem-Year Industrial gained 10.0% each. On the downside, Chengdu B-Ray Media and Zhe Jiang Daily Media Group fell 3.5% and 3.1%, respectively.

Major European indices trade in the red after opening the session with slight gains. Investors received a fair share of economic data. The Eurozone reported a trade surplus of EUR14.6 billion (EUR15.8 billion expected, EUR15.2 billion prior). In addition, the ZEW Economic Sentiment Survey rose to 32.8 from 30.6 (31.8 expected). Also of note, CPI came in at 1.6% year-over-year, as expected. Germany's ZEW Economic Sentiment Survey declined to 36.3 from 38.5 (39.6 expected). Great Britain's CPI rose 2.9% year-over-year (3.0% expected, 2.7% prior). In addition, input PPI increased 4.2% year-over-year, as expected. Meanwhile, output PPI climbed 2.0% year-over-year (1.9% forecast, 1.2% previous). Also of note, the House Price Index came in at 2.9%, as expected. Italy reported a trade surplus of EUR3.89 billion (EUR2.14 billion expected).

Great Britain's FTSE is off by 0.1% as consumer names lag. Burberry and TUI Travel are lower by 2.2% and 2.9%, respectively. Miners are among the advancers with Fresnillo leading the way (+5.5%).
Germany's DAX is lower by 0.5% as chemical producers lag. BASF and Linde are both down near 1.0%. Meanwhile, steelmaker ThyssenKrupp is higher by 2.7% after reports indicated the company has reached a deal to sell one of its plants in Brazil.
In France, the CAC trades down 0.7%. Technology names are mixed as STMicroelectronics leads the decliners with a loss of 2.3% while Gemalto outperforms with a gain of 3.9%.

In domestic economic news, the May net long-term TIC flows report indicated a $27.2 billion outflow of foreign capital from U.S. denominated assets. This follows the prior month's $37.3 billion outflow.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: -1.70. Nasdaq futures vs fair value: -0.30. The S&P 500 futures trade lower by 0.1%.

June consumer prices rose 0.5%, which was above the 0.3% uptick that had been expected by the Briefing.com consensus. This followed the prior month's increase of 0.1%. In addition, core prices rose 0.2%, in line with the Briefing.com consensus.

08:00 am : S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +1.20. U.S. equity futures trade near their respective flat lines. The S&P 500 futures are off by 0.1%.

Looking at overnight developments:

Asian markets registered modest gains. Japan's Nikkei +0.6%, China's Shanghai Composite +0.3%, and Hong Kong's Hang Seng was little changed.
Regional economic data was limited:
New Zealand's CPI ticked up 0.2% quarter-over-quarter (0.3% expected, 0.4% prior).
In news:
The Reserve Bank of Australia released the Minutes from its latest policy meeting. The Minutes were perceived as somewhat hawkish with the RBA suggesting the decline in the Australian dollar was appropriate and inflation was in-line with the central bank's medium-term target.
Japan's economy minister Akira Amari said the country will try to create an environment for a sales tax rise. On a related note, reports out of Nikkei News indicate bonuses at Japanese corporations have increased by about 1.6%, on average.

Major European indices trade in the red after opening the session with slight gains. Great Britain's FTSE -0.1%, Germany's DAX -0.1%, and France's CAC -0.4%.
Investors received a fair share of economic data:
The Eurozone reported a trade surplus of EUR14.6 billion (EUR15.8 billion expected, EUR15.2 billion prior). In addition, the ZEW Economic Sentiment Survey rose to 32.8 from 30.6 (31.8 expected). Also of note, CPI came in at 1.6% year-over-year, as expected.
Germany's ZEW Economic Sentiment Survey declined to 36.3 from 38.5 (39.6 expected).
Great Britain's CPI rose 2.9% year-over-year (3.0% expected, 2.7% prior). In addition, input PPI increased 4.2% year-over-year, as expected. Meanwhile, output PPI climbed 2.0% year-over-year (1.9% forecast, 1.2% previous). Also of note, the House Price Index came in at 2.9%, as expected.
Italy reported a trade surplus of EUR3.89 billion (EUR2.14 billion expected).
Looking at news:
International Monetary Fund Managing Director Christine Lagarde said that unconventional monetary policy has presented new risks to the global outlook, but the IMF is actively working to strengthen the system.

In U.S. corporate news:

Coca-Cola (KO 39.55, -1.46) trades lower by 3.5% after reporting in-line earnings on below-consensus revenue. Peer PepsiCo (PEP 84.20, -0.57) is lower by 0.7% in sympathy.
Goldman Sachs (GS 164.20, +0.15) is higher by 0.7% after beating on earnings and revenue.
Marathon Petroleum (MPC 71.01, -2.09) holds a loss of 2.9% after lowering its second quarter earnings guidance below consensus.


June CPI and core CPI will be reported at 8:30 ET; May net long-term TIC flows will be announced at 9:00 ET; while June industrial production and capacity utilization will be released at 9:15 ET. The day's economic data will be topped off by the 10:00 ET release of the July NAHB Housing Market Index.

06:40 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +2.00.

06:40 am : Nikkei...14599.12...+92.90...+0.60%. Hang Seng...21312.38...+9.10...0.00.

06:40 am : FTSE...6591.54...+5.40...+0.10%. DAX...8217.13...-17.70...-0.20%.

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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