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 Post subject: July 19th Friday Trade Results - Profit $1280
PostPosted: Sat Jul 20, 2013 1:25 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Quote:
This message post (performance record) is the doorway into my trade journal (diary). It contains summaries of my trade results and a direct link to the actual chat room log for today's trading session where the details of each trade was posted in real-time from entry to exit. In addition, below you'll find today's market context that's critical in understanding what the markets were reacting too so that you'll have a better understanding of my trades and/or price action commentaries in the chat room.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $710.00 dollars or +7.10 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $540.00 dollars or +0.54 points, Gold GC ($GC_F) futures @ $30.00 dollars or +0.30 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $1280 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=1558

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 Context 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.

Dow, S&P 500 End 4th Winning Week

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NEW YORK (CNNMoney)
The Dow and S&P 500 ended with a fourth straight week of wins, while the S&P closed at yet another record high Friday.

The S&P 500 eked out a small gain, while the Dow Jones Industrial Average closed down slightly. The Nasdaq dropped 0.7%.

The Nasdaq finished lower for the week, down 0.3%, after three positive weeks. The index was dragged down by poor quarterly results from Google and Microsoft.

Friday's modest pullback didn't take much away from the mega-rally.

All three indexes are up sharply for the year. The Dow and S&P 500 have gained nearly 19%, while the Nasdaq has rallied almost 20%. (Click here for more on stocks, bonds, commodities and currencies.)

The Dow and S&P added between 0.5% and 0.7% this week, boosted by better-than-expected earnings from the major banks. The Nasdaq

Investors were also comforted by statements by Fed chairman Ben Bernanke on Wednesday. Bernanke said he would keep the Fed's stimulus policies in place for as long as necessary.

* Detroit files for bankruptcy

Tech gets trounced: Google (GOOG, Fortune 500) and Microsoft (MSFT, Fortune 500) reported disappointing quarterly numbers after Thursday's closing bell, sending their shares sharply lower.

Microsoft was hit by a big write-down on its Surface tablet.

Good economic indicators from GE, Honeywell: Results from two of the world's biggest industrial companies -- General Electric and Honeywell -- pointed to continuing strength in the global economy.

Honeywell (HON, Fortune 500) raised its outlook for the year, after the company reported better-than-expected earnings.

General Electric (GE, Fortune 500) reported earnings and sales roughly in line with estimates, and said it saw strong growth in U.S. orders.

Whirlpool (WHR, Fortune 500) raised its guidance for the year as the appliance maker reported a significant gain in quarterly sales and profit.

Schlumberger's (SLB) stock rose after the energy company reported a bump in sales and profit, driven by drilling successes on land and deepwater.

Burrito Boost: Chipotle Mexican Grill's (CMG) stock soared after the restaurant chain reported a jump in same-store sales and profits.

In international markets, European indexes ended the day slightly lower.

Asian markets were also weak Friday. China's Shanghai Composite index dipped and Japan's Nikkei each pulled back by 1.5%. But Hong Kong's Hang Seng index managed to edge up by 0.1%.

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4:20 pm : Today's session featured disappointing earnings from technology heavyweights, Google (GOOG 896.60, -14.08) and Microsoft (MSFT 31.40, -4.04), but that could have gone unnoticed if someone were to only focus on the performance of the S&P 500, which ended with a slim gain of 0.2%, notching a new record high.

Meanwhile, the Nasdaq settled lower by 0.7% as earnings and revenue misses from the two major components weighed on the tech-heavy index. For its part, the S&P technology sector fell 2.0%.

While technology shares displayed weakness across the board, the broader market was kept afloat by the outperformance of heavily-weighted energy, health care, and industrial sectors. The three groups added between 1.2% and 1.4% with health care ending in the lead.

The health care sector spent the entire session in a steady climb as biotechnology provided significant support. The iShares Nasdaq Biotechnology ETF (IBB 195.00, +3.06) advanced 1.6% after marking a fresh all-time high.

Elsewhere, the industrial sector was underpinned by Dow component General Electric (GE 24.72, +1.09), which jumped 4.6% after its slim earnings beat overshadowed a 3.5% year-over-year decline in revenue. Another Dow member, Boeing (BA 106.96, -0.67), kept industrials from logging further gains after two more jets produced by the company were forced to return to their home ports following in-flight technical issues.

Also of note, the energy sector advanced 1.4% on the back of better-than-expected earnings from Schlumberger (SLB 82.74, +4.33). On a related note, crude oil added 0.3% to $108.15.

Another commodity-related sector, materials, rose 0.5% as chemical producers and gold miners displayed strength. The Market Vectors Gold Miners ETF (GDX 25.86, +1.08) jumped 4.4%. Gold futures displayed strength as well, climbing 0.8% to $1294.30 per troy ounce.

The CBOE Volatility Index (VIX 12.54, -1.23) spent the entire session in a steady decline, dropping to its lowest level since May 17. After notching its 2013 high of 21.91% on June 24, the near-term volatility measure has logged three consecutive weekly losses as the S&P 500 climbed to fresh all-time highs.

Participation was relatively limited and NYSE trading volume of 872 million shares was light when taking today's options expiration into account.

On Monday, June existing home sales will be reported at 10:00 ET.

Week in Review: Another Week, Another Record for the S&P 500

On Monday, the S&P 500 settled higher by 0.1% to mark its eight consecutive advance. The utilities sector ended atop the leaderboard with a gain of 1.6%, but the relative strength of three influential sectors (financials, industrials, and technology) helped the S&P end less than five points away from its May 22 all-time intraday high of 1687.18. Notably, the session was one of the quietest of the year in terms of participation as only 567 million shares changed hands on the floor of the New York Stock Exchange. Financials provided the broader market with an opening boost after Citigroup (C 52.35, -0.34) reported better-than-expected earnings on above-consensus revenue. Citigroup rose 2.0% while the broader sector added 0.4%.

Tuesday's session saw the S&P 500 end lower by 0.4% to snap its streak of eight consecutive gains. The decline marked only the third time this month where the S&P registered a loss, and first with a drop larger 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 164.36, +0.30) and Johnson & Johnson (JNJ 92.23, +2.06). In addition, market participants appeared cautious ahead of the Wednesday testimony by Fed Chairman Ben Bernanke in front of the House Financial Services Committee. Also of note, Coca-Cola (KO 41.09, +0.28) shed 1.9% after missing on revenue.

Equities began Wednesday's session in the black and the S&P 500 added 0.3% after the prepared remarks from Ben Bernanke's testimony in front of the House Financial Services Committee provided an opening boost. Mr. Bernanke's comments were in-line with previous statements, indicating the Federal Reserve plans to base its decisions on the incoming data. The Fed Chairman expounded on this by saying asset purchases could be scaled back if economic conditions improve faster than expected, and inflation rises towards the Fed's objective. However, if financial conditions were to tighten, the current pace of purchases could be maintained or increased. In that vein, housing data released concurrently with Chairman Bernanke's comments spoke in favor of leaving asset purchases unchanged after June housing starts hit an annualized rate of 836,000 units (958,000 Briefing.com consensus). The large miss was mostly due to 26.2% decline in multi-family units while single-family starts declined by 0.8%. Separately, the weekly MBA Mortgage Index decreased 2.6% to mark its fifth negative reading in a row and the ninth decline out of the past ten weeks. Homebuilders received the news in stride, and the iShares Dow Jones US Home Construction ETF (ITB 23.23, +0.16) advanced 1.3%.

On Thursday, the S&P 500 settled with a gain of 0.5% after notching a fresh intraday record high of 1693.13. Meanwhile, the tech-heavy Nasdaq underperformed, ending unchanged. Stocks climbed at the open and received an additional boost after the July Philadelphia Fed Index spiked to 19.8 from 12.5. That was well ahead of the Briefing.com consensus estimate of 5.3 and marked the highest reading for the index since March 2011. The S&P was able to register to a new record high as heavily-weighted energy, financial, and industrial sectors all logged gains of at least 0.9%.DJ30 -4.80 NASDAQ -23.66 SP500 +2.72 NASDAQ Adv/Vol/Dec 1158/1.71 bln/1278 NYSE Adv/Vol/Dec 1525/871.8 mln/1451

3:30 pm :

Aug crude oil rose to a session high of $109.17 per barrel moments after floor trade opened but quickly retreated and oscillated between positive and negative territory for the remainder of the session. It settled 0.1% higher at $108.09 per barrel, booking a 2.0% gain for the week.
Aug natural gas was unsuccessful at its attempt to climb out of negative territory. It touched a session high of $3.81 per MMBtu in afternoon action but settled 0.5% lower at $3.79 per MMBtu. Despite today's loss, natural gas gained 4.1% over the week.
Aug gold extended yesterday's gains as it received a boost from a weaker dollar index. The yellow metal climbed as high as $1297.10 per ounce in morning action and booked a 0.7% gain as it closed at $1292.80 per ounce. Today's advance helped bring gains for the week to 1.2%.
Sept silver touched a session low of $19.32 per ounce as floor trade opened but quickly recovered into positive territory. It then chopped around just above the unchanged line and eventually settled 0.2% higher at $19.45 per ounce. Unlike gold, silver lost 1.8% over the week.

DJ30 -17.70 NASDAQ -28.22 SP500 +0.86 NASDAQ Adv/Vol/Dec 1104/1439.5 mln/1334 NYSE Adv/Vol/Dec 1433/571 mln/1517

3:00 pm : The S&P 500 has slipped from its session high, but remains just above its flat line. Meanwhile, the Nasdaq continues to languish near its lows.

Elsewhere, the foreign exchange market has been relatively quiet. The Dollar Index has spent the entire session in negative territory, and its overnight attempt to turn positive was met with a swift rejection. Currently, the Index holds a loss of 0.3% as the British pound and the euro register modest gains against the greenback.

Similarly, Treasuries have spent the entire U.S. session within a narrow range. The benchmark 10-yr yield is lower by four basis points at 2.50%.DJ30 -21.04 NASDAQ -28.06 SP500 +0.43 NASDAQ Adv/Vol/Dec 1125/1.29 bln/1310 NYSE Adv/Vol/Dec 1446/531.2 mln/1493

2:30 pm : The S&P 500 has climbed into positive territory after today's strongest sectors (energy, health care, and industrials) added to their gains. The three groups are up between 1.2% and 1.3% with health care in the lead. In addition, the consumer staples sector (+0.4%) has quietly notched its own session high.

Also of note, the CBOE Volatility Index (VIX 12.89, -0.88) has spent the entire session in a steady decline, dropping to its lowest level since May 21. After notching its 2013 high of 21.91% on June 24, the near-term volatility measure has logged three consecutive weekly losses as the S&P 500 climbed to fresh all-time highs.

Elsewhere, Treasuries remain near their best levels of the day with the benchmark 10-yr yield lower by four basis points at 2.49%.DJ30 -13.88 NASDAQ -24.96 SP500 +1.07 NASDAQ Adv/Vol/Dec 1147/1.21 bln/1264 NYSE Adv/Vol/Dec 1441/503.3 mln/1500

2:00 pm : So far, afternoon action has been very quiet. The S&P 500 continues to hold a slim loss of 0.1% while the tech-heavy Nasdaq remains near its lows.

Although the S&P 500 has been able to erase most of its losses, the underperformance of financials and discretionary shares has acted as a limiting factor. Both groups trade lower by 0.3% and the discretionary sector has been pressured by the relative weakness of apparel companies after V.F. Corp (VFC 195.08, -4.45) reported a bottom line beat on below-consensus revenue. Meanwhile, quick service restaurants are mostly lower even after Chipotle Mexican Grill (CMG 407.54, +30.79) beat on earnings and revenue.DJ30 -33.94 NASDAQ -30.75 SP500 -1.93 NASDAQ Adv/Vol/Dec 1056/1.13 bln/1341 NYSE Adv/Vol/Dec 1352/478.2 mln/1580

1:25 pm : It's hard not to be impressed with the stock market today. Entering today's session, it was up over 8.0% from its low on June 24 and major earnings disappointments out of Google (GOOG 895.32, -15.36) and Microsoft (MSFT 31.29, -4.15) certainly offered an excuse to do some more concerted profit taking. Hasn't happened.

Granted, some of the tech stocks are noticeably weak (and rightfully so), but the broader market has been a picture of resilience. The S&P 500 is down less than two points thus far, demonstrating that disappointing news doesn't drive money out of the stock market. Rather, it drives a rotation of money within the stock market. That position continues to be underpinned by the Fed's highly accommodative monetary policy and the market's belief that the Fed isn't going to pull away the punch bowl soon.

Today's beneficiaries include the energy (+1.0%) and industrials (+1.0%) sectors in particular, which have responded favorably to earnings reports out of Schlumberger (SLB 83.24, +4.76) and General Electric (GE 24.72, +1.09).
DJ30 -29.39 NASDAQ -31.41 SP500 -1.42 NASDAQ Adv/Vol/Dec 1035/1.04 bln/1347 NYSE Adv/Vol/Dec 1269/451 mn/1637

1:00 pm : Equities began the session in negative territory after two technology bellwethers, Google (GOOG 893.10, -17.58) and Microsoft (MSFT 31.52, -3.92) missed on earnings and revenue. The significant weakness of the two names exerted significant pressure on the tech-heavy Nasdaq while the broader S&P 500 has been able to hold up relatively well thanks to the outperformance of energy, health care, and industrials.

The energy sector holds a gain of 0.9% and major sector component, Schlumberger (SLB 83.23, +4.75), has provided the growth-oriented group with a significant boost after reporting an earnings beat. On a related note, crude oil notched a session high above $109.00 per barrel before surrendering its gains. Currently, the energy component trades down 0.4% at $107.41.

Elsewhere, the health care sector has received some support from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 194.37, +2.43) holds a gain of 1.3% after breaking out to a fresh all-time high.

Industrials have also helped the S&P keep its losses in check after General Electric (GE 24.72, +1.09) reported a bottom line beat on below-consensus revenue.

At midday, the technology sector hovers on its lows with a loss of 2.0%. Similarly, Microsoft has continued its slide through the first half of the session while Google has been able to reclaim a large portion of its opening losses. The stock trades lower by 1.9% after being down as much as 3.9% at the open.

The Treasury market has been relatively quiet following a steady morning bid. The benchmark 10-yr yield is lower by four basis points at 2.50%.DJ30 -33.94 NASDAQ -30.75 SP500 -1.93 NASDAQ Adv/Vol/Dec 1031/976.9 mln/1351 NYSE Adv/Vol/Dec 1261/430.9 mln/1653

12:30 pm : The major averages continue to hold their recent levels. Despite Google's (GOOG 898.00, -12.31) recovery off its opening lows, the technology sector remains down 2.0%.

Tech shares continue to display broad weakness among components of all sizes. The largest technology component, Apple (AAPL 426.53, -5.23) is lower by 1.2% and general weakness among chipmakers has pressured the PHLX Semiconductor Index, which sports a loss of 1.1%.

The broader market has been able to outperform the tech-heavy Nasdaq as energy, health care, and industrials trade with gains between 0.9% and 1.0%.

Elsewhere, Treasuries remain on their highs with the benchmark 10-yr yield lower by three basis points at 2.50%.DJ30 -29.27 NASDAQ -29.56 SP500 -1.54 NASDAQ Adv/Vol/Dec 1043/915.1 mln/1326 NYSE Adv/Vol/Dec 1232/413.9 mln/1664

12:00 pm : The S&P 500 has dipped back into the red after tagging its flat line. Meanwhile, the Nasdaq has returned to its session low (-0.9%) as Microsoft (MSFT 31.54, -3.90) slipped to a fresh low of its own.

Notably, Google (GOOG 897.99, -12.69) has shown some significant resilience. After notching its lows shortly after the open, the stock has climbed steadily, trimming its loss to 1.4%.

Despite the significant recovery effort on Google's part, the technology sector remains week, trading lower by 2.0%.DJ30 -30.37 NASDAQ -29.77 SP500 -1.37 NASDAQ Adv/Vol/Dec 1023/841.4 mln/1320 NYSE Adv/Vol/Dec 1259/392.8 mln/1637

11:30 am : Recent action saw the S&P 500 return to its flat line while the Nasdaq continues to hover near its lows as the technology sector holds a loss of 1.7%.

The relative strength of the S&P 500 is largely due to the outperformance of three heavily-weighted sectors. Energy, health care, and industrials all trade with gains between 0.8% and 1.0%. Meanwhile, another two influential sectors, consumer discretionary and financials, trade largely in-line with the broader market.

Elsewhere, Treasuries are on their highs with the benchmark 10-yr yield lower by four basis points at 2.50%.DJ30 -19.86 NASDAQ -24.08 SP500 -0.21 NASDAQ Adv/Vol/Dec 1039/735.7 mln/1288 NYSE Adv/Vol/Dec 1297/364.7 mln/1566

11:00 am : The S&P 500 has been able to trim its losses and the benchmark index now hovers less than two points (-0.1%) below its flat line. Meanwhile, the Nasdaq continues to languish near its lows (-0.7%).

The S&P has received some significant support from energy and industrials. The energy sector holds a gain of 0.7% while the industrial space is higher by 1.1%. In addition to the relative strength of General Electric (GE 24.83, +1.20), industrials have been boosted by transportation-related shares. The Dow Jones Transportation Average trades higher by 0.2%.

Also of note, the health care sector holds a gain of 0.9% as biotechnology displays considerable strength. The iShares Nasdaq Biotechnology ETF (IBB 195.08, +3.14) trades up 1.6%.DJ30 -23.86 NASDAQ -24.93 SP500 -1.42 NASDAQ Adv/Vol/Dec 1027/608.1 mln/1256 NYSE Adv/Vol/Dec 1265/328.5 mln/1567

10:35 am : Commodities are mostly higher today. Crude oil surged higher this morning, rising above $109/barrel.

The commodity has shown some notable volatility this morning by rapidly falling back below $108/barrel and back into negative territory. Aug crude is now +0.4% at $108.51/barrel. Natural gas prices have inched lower this morning and remain in the red. Aug nat gas is now -0.9% at $3.78/MMBtu.

Gold futures just hit a new HOD in recent trade and remain just under that level in current activity. Aug gold is now +0.8% at $1294.00/oz and Sept silver is +0.3% at $19.46/oz.DJ30 -22.96 NASDAQ -24.82 SP500 -1.28 NASDAQ Adv/Vol/Dec 915/526.3 mln/1310 NYSE Adv/Vol/Dec 1215/304 mln/1574

10:05 am : The major averages continue to hold their opening levels with the tech-heavy Nasdaq lower by 0.8%. On a related note, the technology sector holds a loss of 1.6% as Google (GOOG 879.52, -31.16) and Microsoft (MSFT 32.30, -3.14) weigh.

Elsewhere, the industrial sector (+0.7%) remains in the lead as General Electric (GE 24.70, +1.70) provides some significant support.

Also of note, the energy sector trades up 0.5%, but crude oil has retreated from its high above $109 per barrel. Currently, the energy component is off by 0.1% at $107.79.DJ30 -37.25 NASDAQ -29.36 SP500 -3.35 NASDAQ Adv/Vol/Dec 751/340.1 mln/1384 NYSE Adv/Vol/Dec 1008/254.1 mln/1722

09:45 am : The major averages began the session in negative territory following earnings and revenue misses from Google (GOOG 877.63, -33.05) and Microsoft (MSFT 32.07, -3.36). The two major tech names have exerted significant pressure on the Nasdaq, which trades lower by 0.8%. Meanwhile, the S&P 500 outperforms with a more modest loss of 0.2%.

The S&P has been able to limit its opening losses due to the relative strength of the industrial sector, which holds a gain of 0.6%. General Electric (GE 24.60, +0.98) has made a significant contribution to the sector's outperformance as the Dow component trades up 4.1% after reporting a bottom line beat on below-consensus revenue.DJ30 -43.14 NASDAQ -31.33 SP500 -4.11 NASDAQ Adv/Vol/Dec 639/221.6 mln/1387 NYSE Adv/Vol/Dec 916/216.7 mln/1734

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -31.00. Equity futures signal a lower open after Google (GOOG 884.90, -25.78) and Microsoft (MSFT 32.61, -2.83) reported disappointing quarterly results. Both tech bellwethers missed on earnings and revenue. In addition, Microsoft wrote down a loss of $900 million caused by disappointing 'Surface' tablet sales.

In other news, Dow component Boeing (BA 106.49, -1.14) holds a pre-market loss of 1.1% after two more planes were forced to return to their home ports following in-flight technical issues.

Also of note, crude oil has continued its recent climb. Currently, the energy component trades higher by 0.8% at $108.67 per barrel after climbing above $109.

08:54 am : [BRIEFING.COM] S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -28.00. The S&P 500 futures trade lower by 0.1%.

Asian markets ended generally lower as Japan's Nikkei and China's Shanghai Composite both lost 1.5% after Google (GOOG 883.90, -26.78) and Microsoft (MSFT 32.76, -2.68) reported disappointing earnings. Also of note, recent reports indicate China has removed the floor on lending rates. However, the ceiling on rates remains in place. On a related note, the Shanghai Interbank Offered Rate (SHIBOR) increased for a second consecutive day with the one-week rate seeing the most notable jump (11 basis points to 3.745%). Economic data was limited to just a handful of releases. Japan's foreign bond buying report indicated an increase of JPY1.11 trillion to follow the prior week's rise of JPY973.9 billion. In addition, the All Industries Activity Index rose 1.1% (1.3% expected, 0.1% previous). Elsewhere, New Zealand's credit card spending increased 5.4% year-over-year (2.6% prior) while visitor arrivals decreased 1.5% (-0.7% previous).

In Japan, the Nikkei ended lower by 1.5% as technology names underperformed. Dainippon Screen Manufacturing, Taiyo Yuden, and Tokyo Electron fell between 5.1% and 6.7%. On the upside, Olympus jumped 3.0%.
Hong Kong's Hang Seng added 0.1%. HSBC Holdings advanced 1.2% while property names lagged. China Overseas Land & Investment and China Resources Land fell 2.1% and 2.6%, respectively.
China's Shanghai Composite settled lower by 1.5% as industrials lagged. Jangho Group and Sinoma International both lost 10.0%. S&P Pharmaceutical finished among the leaders with a gain of 10.0%.

Major European indices hold modest losses after rising off their early lows. Notably, the Portuguese government has survived a no-confidence vote, but few members of Parliament believe the country will be able to reach an agreement on a 'national salvation pact' by the upcoming Sunday deadline. Reviewing economic news of note, Germany's PPI was unchanged month-over-month (-0.1% expected, -0.3% prior) while the year-over-year reading increased 0.6%, as expected. Great Britain's public sector net borrowing was reported at GBP10.20 billion (GBP9.50 billion expected, GBP12.80 billion prior). Italy's industrial new orders jumped 3.2% month-over-month (0.6% expected, 0.8% previous) while industrial sales ticked up 0.1% month-over-month (0.6% prior). Spain's trade balance was flat (-EUR0.20 billion expected, -EUR1.60 billion prior) and the House Price Index fell 7.6% year-over-year (-6.8% consensus, -7.7% previous).

Germany's DAX is lower by 0.1% as tech names weigh. Infineon Technologies and SAP are both down near 1.0%. Financials have shown strength with Commerzbank and Deutsche Bank up 2.7% and 1.5%, respectively.
In France, the CAC is off by 0.2%. Gemalto leads to the downside with a loss of 1.6%. Meanwhile, bank shares are among the leaders. BNP Paribas, Credit Agricole, and Societe Generale are all up between 0.8% and 2.1%.
Great Britain's FTSE trades down 0.3%. Chipmaker ARM Holdings is the weakest performer, holding a loss of 2.8%. On the upside, Barclays trades higher by 1.6%.

08:29 am : [BRIEFING.COM] S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -26.30. Equity futures have recovered a portion of their overnight losses, but they remain under pressure after two technology bellwethers, Google (GOOG 881.68, -29.00) and Microsoft (MSFT 32.86, -2.58) missed on earnings and revenue.

In other notable earnings, Chipotle Mexican Grill (CMG 395.50, +18.75) holds a pre-market gain of 5.0% after reporting a bottom line beat on above-consensus revenue. Elsewhere, General Electric (GE 23.98, +0.35) trades up 1.5% after its quarterly report revealed an earnings beat on lower-than-expected revenue.

Moving away from earnings, Dow component Boeing (BA 106.35, -1.28) is lower by 1.2% after two more plans were forced to return to their home ports after technical issues arose in-flight.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -26.00. U.S. equity futures are under some pressure after Google (GOOG 882.55, -28.13) and Microsoft (MSFT 32.96, -2.49) reported disappointing earnings. Looking at overnight developments:

Asian markets ended generally lower. Japan's Nikkei -1.5%, China's Shanghai Composite -1.5%, Hong Kong's Hang Seng +0.1%.
In regional economic data:
Japan's foreign bond buying report indicated an increase of JPY1.11 trillion to follow the prior week's rise of JPY973.9 billion. In addition, the All Industries Activity Index rose 1.1% (1.3% expected, 0.1% previous).
New Zealand's credit card spending increased 5.4% year-over-year (2.6% prior) while visitor arrivals decreased 1.5% (-0.7% previous).
In news:
Reports indicate China has removed the floor on lending rates. However, the ceiling on rates remains in place. On a related note, the Shanghai Interbank Offered Rate (SHIBOR) increased for a second consecutive day with the one-week rate seeing the most notable jump (11 basis points to 3.745%).

Major European indices hold modest losses after rising off their early lows. Germany's DAX +0.2%, Great Britain's FTSE +0.3%, France's CAC +0.4%.
Reviewing economic news of note:
Germany's PPI was unchanged month-over-month (-0.1% expected, -0.3% prior) while the year-over-year reading increased 0.6%, as expected.
Great Britain's public sector net borrowing was reported at GBP10.20 billion (GBP9.50 billion expected, GBP12.80 billion prior).
Italy's industrial new orders jumped 3.2% month-over-month (0.6% expected, 0.8% previous) while industrial sales ticked up 0.1% month-over-month (0.6% prior).
Spain's trade balance was flat (-EUR0.20 billion expected, -EUR1.60 billion prior) and the House Price Index fell 7.6% year-over-year (-6.8% consensus, -7.7% previous).
Looking at news:
The Portuguese government has survived a no-confidence vote, but few members of Parliament believe the country will be able to reach an agreement on a 'national salvation pact' by the upcoming Sunday deadline.

In U.S. corporate news:

Boeing (BA 106.00, -1.63) is -1.5% after a Tokyo-bound 787 Dreamliner was forced to return to Boston's Logan Airport following technical issues. Separately, an Amsterdam-bound Boeing 777 had to return to Houston's Bush Intercontinental Airport following engine issues.
Chipotle Mexican Grill (CMG 392.00, +15.25) is +4.1% after beating on earnings and revenue.
General Electric (GE 24.19, +0.56) is +2.4% after reporting an earnings beat on below-consensus revenue.
Google (GOOG 882.55, -28.13) is -3.1% after missing on earnings and revenue.
Honeywell (HON 83.30, +0.33) is +0.4% following its earnings beat.
Intuitive Surgical (ISRG 356.00, -65.47) is -15.5% after missing on earnings.
Microsoft (MSFT 32.96, -2.49) is -7.0% after missing on earnings and revenue
Skyworks (SWKS 24.25, +1.80) is +8.0% after beating an earnings. In addition, the company raised its fourth quarter earnings and revenue guidance above consensus.
Whirlpool (WHR 122.50, +3.13) is +2.6% after missing on earnings and beating its revenue expectations.

06:55 am : Nikkei...14589.91...-218.60...-1.50%. Hang Seng...21362.42...+17.20...+0.10%.

06:55 am : FTSE...6608.86...-25.50...-0.40%. DAX...8306.02...-31.10...-0.40%.

06:55 am : S&P futures vs fair value: -5.5. Nasdaq futures vs fair value: -30.5.

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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