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 Post subject: July 25th Thursday Trade Results - Profit $4170
PostPosted: Fri Jul 26, 2013 7:19 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
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 my broker statement 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, 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 @ $1170.00 dollars or +11.70 points, Emini ES ($ES_F) futures @ $3000.00 dollars or +60.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $4170.00 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=119&t=1562

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.

Tech Stocks Lifted By Facebook

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NEW YORK (CNNMoney)
Tech stocks pushed the Nasdaq higher for the second day in a row Thursday, as the broader market wavered.

The Nasdaq ended the day up 0.7%, lifted by Facebook's strong earnings report. A day earlier, Apple's (AAPL, Fortune 500) better-than expected earnings also fueled the tech-heavy index.

But investors largely lacked conviction to push the broader market decidedly in any one direction Thursday. In the summer, volumes tend to be light and all three indexes have gained more than 18% so far this year.

The Dow Jones Industrial Average and S&P 500 hovered around breakeven with a mixed bag of earnings reports and a pair of tepid economic reports keeping investors sidelined. Both indexes did manage to eke out modest gains at the close.

More than a third of the companies in the S&P 500 have reported second-quarter results so far, according to S&P Capital IQ. As of Thursday morning, 66% had topped analysts' lowered expectations.

The Facebook effect: Shares of Facebook (FB) surged 30% Thursday, a day after the social networking site posted strong quarterly results, led by a marked improvement in its mobile business.

"Facebook is the one driving the Nasdaq and [30%] is a powerful, powerful move" said Joseph Saluzzi, a partner at Themis Trading.

The momentum also propelled Zynga (ZNGA) during the trading day, with the stock ending up almost 7%. But shares of the app developer, which has games on Facebook, tumbled in after-hours trading after the company issued a weak outlook for the third quarter.

* Video - Facebook soars as mobile strategy clicks

Mixed bag of earnings: Dow Chemical (DOW, Fortune 500) and Tripadvisor (TRIP) reported quarterly profit gains.

General Motors (GM, Fortune 500) reported an improvement in second-quarter earnings, but a slowdown in China pressured overall profits.

Homebuilders were the biggest drags on the S&P 500. PulteGroup (PHM) reported earnings and revenue that fell way short of forecasts. D.R. Horton (DHI) also reported earnings that came in shy of expectations.

Baidu (BIDU) shares surged after the Chinese Internet company reported a second-quarter profit that topped analyst expectations.

After the closing bell, Amazon (AMZN, Fortune 500) posted a surprise loss for the second quarter, sending shares down 2% in after-hours trading.

Starbucks (SBUX, Fortune 500) shares jumped after hours after the coffee giant delivered better-than-expected earnings and sales for last quarter.

* SAC hit with criminal charges

Tepid recovery: In economic news, the government released jobless claims data Thursday morning in line with expectations. Initial claims rose to 343,000 for the week ended July 20, an increase of 7,000 from the previous week.

New orders of durable goods, also reported by the Census Bureau, surged past expectations. The number jumped by 4.2% in June to $244.5 billion and has risen for four of the past five months.

But without the nearly 13% gain in orders of transportation equipment, the numbers weren't so hot. "It still gives the story of a very tepid recovery," Saluzzi said.

World markets in the red: European markets ended lower. London's benchmark FTSE 100 index lost almost 0.5% and Germany's DAX fell by 0.96%.

Asian markets ended with losses, even as the Chinese government announced a mini stimulus plan that should give a boost to certain areas of the economy, including small businesses.

Hong Kong's Hang Seng index lost 0.3% and the Shanghai Composite index declined by 0.6%.

In Japan, Tokyo's Nikkei fell by 1.1%.

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4:15 pm : Equities began the session in mixed fashion before an afternoon rally helped lift the S&P 500 into the green. The benchmark index added 0.3% while the Nasdaq outperformed with a gain of 0.7%.

The tech-heavy Nasdaq displayed strength throughout the session after Biogen (BIIB 227.48, +0.87), Facebook (FB 34.36, +7.85), and Qualcomm (QCOM 63.42, +2.03) reported solid quarterly results. The relative strength of Biogen helped the health care sector finish among the leaders, but the outperformance of Facebook and Qualcomm had a limited effect on the technology sector, which ended little changed.

Chipmakers were able to shake off their early losses during afternoon action. The PHLX Semiconductor Index advanced 0.6%.

The afternoon rally was fueled by gains in energy, materials, and utilities. The energy sector climbed 0.5% after displaying weakness yesterday. Meanwhile, crude oil added 0.3% to $105.68 per barrel.

Elsewhere, the materials sector rose 0.9% amid broad strength. Dow Chemical (DOW 34.99, +0.62) settled higher by 1.8% after beating on earnings.

Also of note, the utilities space gained 0.9% after finishing yesterday's session at the bottom of the leaderboard.

While the Nasdaq spent the entire day in the green, the S&P's gains were limited by the underperformance of influential discretionary and industrial sectors.

Discretionary shares ended near their highs, but home builders registered losses across the board. During its earnings conference call, DR Horton's (DHI 19.38, -1.82) Chief Executive Officer commented on the recent run up in rates, saying traffic count has slowed since mortgage rates began to rise. In addition, cancellations rose to 24.0% of all orders from 19.0% reported in the prior period. DR Horton fell 8.6% while the broader iShares Dow Jones US Home Construction ETF (ITB 21.82, -0.73) dropped 3.2%.

The industrial sector was the lone decliner as transportation-related names weighed. The Dow Jones Transportation Average shed 0.1% after being down as much as 1.3% intraday. Alaska Air (ALK 60.37, -0.79) and United Continental (UAL 34.30, -0.67) registered respective losses of 1.3% and 1.9% after reporting earnings. United Continental topped its earnings estimates while Alaska Air reported a bottom-line miss on in-line revenue.

Today's economic data was limited to weekly initial claims and June durable orders.

The initial claims level increased to 343,000 for the week ending July 20 from an upwardly revised 336,000 (from 334,000) for the week ending July 13. The Briefing.com consensus expected the initial claims level to increase to 340,000. Over the past few weeks, the Department of Labor has acknowledged that its seasonal adjustments are failing to correct for layoffs in the auto and education sectors. This has caused unusual volatility in the headline claims level.

Separately, durable goods orders rose 4.2% in June after increasing an upwardly revised 5.2% (from 3.7%) in May. The Briefing.com consensus expected orders to increase 1.8%. The durables report serves as a perfect example of a strong headline number masking significant weakness that is taking effect across almost every sector.

As expected from Boeing's (BA 106.70, -0.25) orders report, transportation orders were strong in June. Orders rose 12.8% as defense and nondefense aircraft orders increased 29.2%. Outside of transportation, however, nearly every durables sector fell in June. Only machinery (+2.4%) and fabricated metals products (+0.1%) showed positive growth.

That left durable goods orders excluding transportation flat for the month after increasing 1.0% in May. The consensus expected these orders to increase 0.3%.

Tomorrow, the final Michigan Consumer Sentiment Survey for July will be released at 9:55 ET. On the earnings front, Aon (AON 67.55, +0.67), LyondellBasell (LYB 68.05, +0.63), and Wipro (WIT 8.24, +0.07) will report their quarterly results before the opening bell.DJ30 +13.37 NASDAQ +25.59 SP500 +4.31 NASDAQ Adv/Vol/Dec 1653/2.03 bln/843 NYSE Adv/Vol/Dec 1723/680.6 mln/1307

3:30 pm :

Sep crude oil fell to a session low of $104.08 per barrel in early morning floor trade. However, buyers stepped in and pushed prices up, thus erasing earlier losses. The energy component climbed to a session high of $105.87 per barrel and settled with a 5 cent gain at $105.49 per barrel
Aug natural gas spiked to a session high of $3.76 per MMBtu as inventory data showed a build of 41 bcf when a build of 45-46 bcf was anticipated. However, it quickly slid into the red where it spent the remainder of pit trade. It brushed a session low of $3.64 per MMBtu and settled at $3.65 per MMBtu,or 1.1% lower
Precious metals rose for the first time in three sessions as they got a boost from a weaker dollar index. Aug gold rose from a session low of $1317.60 per ounce and touched a session high of $1331.90 per ounce. It settled at $1328.70 per ounce, booking a gain of 0.7%
Sep silver advanced to a session high of $20.20 per ounce and eventually closed with a 0.7% gain at $20.16 per ounce

DJ30 +4.96 NASDAQ +23.96 SP500 +3.61 NASDAQ Adv/Vol/Dec 1592/1733.3 mln/895 NYSE Adv/Vol/Dec 1628/459 mln/1387

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

The Dollar Index made a brief overnight appearance in positive territory before dollar weakness took hold, sending the Index to its lows. Currently, the Index is off by 0.4% with the greenback surrendering ground to the Australian dollar and the Japanese yen.

Australian dollar/U.S. dollar is higher by 0.8% near 0.9215 as today's bid cuts yesterday's losses in half. However, the 0.9300 area continues to serve as key resistance with the pair looking for its first close above that level in over a month.

Elsewhere, dollar/yen is lower by 0.8% near 99.60 as action moves to the bottom of its recent range. The pair has spent almost the entire month of July trapped between 99.00 and 101.00, and is likely to show some reaction to Japan's National and Tokyo CPI readings, scheduled to be released overnight.DJ30 -30.33 NASDAQ +15.53 SP500 -0.80 NASDAQ Adv/Vol/Dec 1493/1.54 bln/974 NYSE Adv/Vol/Dec 1427/404.5 mln/1574

2:30 pm : Recent action saw the S&P 500 return to its flat line while the Nasdaq (+0.4%) and Russell 2000 (+0.6%) continue to hold gains.

The S&P's most recent retreat occurred as today's weakest sectors (discretionary, financial, and industrial) slipped from their highs. The three have spent the entire session in negative territory.

The discretionary sector has narrowed its loss to 0.2%, but home builders continue to show significant weakness. During its earnings conference call, DR Horton's (DHI 19.32, -1.88) Chief Executive Officer commented on the recent run up in rates, saying traffic count has slowed since mortgage rates began to rise. In addition, cancellations rose to 24.0% of all orders from 19.0% reported in the prior period.

On a related note, Treasuries have slipped near their lows. The benchmark 10-yr yield is higher by three basis points at 2.62%.DJ30 -14.97 NASDAQ +16.02 SP500 +0.27 NASDAQ Adv/Vol/Dec 1506/1.45 bln/965 NYSE Adv/Vol/Dec 1462/376.4 mln/1521

2:05 pm : The Nasdaq and S&P 500 continue to hold their recent levels while the Dow sits just below its flat line.

Although most sectors began the day in negative territory, only financial, industrial, and discretionary sectors remain in the red at this juncture.

Interestingly, despite the outperformance of the tech-heavy Nasdaq, the S&P technology sector has trailed behind the broader market for the majority of the session. Solid quarterly results from Qualcomm (QCOM 63.04, +1.64) and Visa (V 195.31, +8.56) have boosted the sector off its lows, but the underperformance of large components like Apple (AAPL 439.27, -1.24) and Microsoft (MSFT 31.39, -0.57) has acted as a limiting factor.DJ30 -1.35 NASDAQ +20.25 SP500 +2.39 NASDAQ Adv/Vol/Dec 1572/1.37 bln/890 NYSE Adv/Vol/Dec 1536/349.4 mln/1448

1:30 pm : It is still largely a mixed market with the Nasdaq (+0.6%) outperforming the Dow and S&P 500. It is the Russell 2000, however, that leads all major averages with a 0.7% gain.

The outperformance of the small caps today is consistent with its performance for the month (+7.5%) and year-to-date (+23.6%). Increasingly, investors have turned to the small caps due to their domestic orientation and, hence, lack of exposure to foreign economies that are struggling with capital outflows, social rebellion, austerity measures and/or slowing growth to name a few problems.

The US of course still has its problems, yet it is being regarded as a relative safe haven among international markets.

In other developments, the $29 bln 7-year note auction was solid, drawing 2.026% on a bid-to-cover ratio of 2.54x that was a bit below the 12-auction average of 2.66%. Indirect bidders were actively involved, taking down 48.6% of the new supply versus a 12-auction average of 39.2%. Direct bidders consumed 16.6%, which was close to the 12-auction average of 18.0%. Treasuries tested their best levels of the session after the auction. DJ30 +4.15 NASDAQ +20.30 SP500 +1.86 NASDAQ Adv/Vol/Dec 1546/1.27 bln/907 NYSE Adv/Vol/Dec 1471/322 mln/1503

1:00 pm : Equities began the session on a mixed note but recent gains in the S&P 500 have helped the benchmark index erase its opening losses. The Nasdaq holds a modest midday gain of 0.6% while the S&P 500 underperforms with an advance of 0.1%.

The tech-heavy Nasdaq has received some support from Biogen (BIIB 229.60, +2.99), Facebook (FB 33.70, +7.19), and Qualcomm (QCOM 63.00, +1.62) after the three reported solid quarterly results. However, the strength of those three names has had a limited effect on their respective sectors. Biogen's results have helped the health care sector outperform the broader market while the tech sector trades in-line with the S&P.

In addition to health care (+0.3%), energy (+0.5%), materials (+0.9%), and consumer staples (+0.4%) have helped the broader market climb off its lows. Also of note, the utilities space trades higher by 0.8% after ending yesterday's session among the laggards.

Although the S&P 500 has regained its flat line, financials (-0.2%), industrials (-0.2%), and discretionary shares (-0.1%) continue to show weakness.

Notably, the industrial sector has been pressured by transportation-related names. The Dow Jones Transportation Average trades with a loss of 0.7% as airlines lag. Alaska Air (ALK 59.62, -1.54), Southwest Airlines (LUV 13.47, -0.29), and United Continental (UAL 33.26, -1.70) are all down between 2.1% and 4.9% after reporting earnings. United Continental topped its earnings estimates while Southwest reported in-line results. For its part, Alaska Air reported a bottom-line miss on in-line revenue.

Elsewhere, the discretionary sector has been weighed down by home builders. DR Horton (DHI 19.39, -1.81) and Ryland Group (RYL 36.45, -3.29) reported bottom-line beats while PulteGroup (PHM 16.35, -2.10) missed on earnings and revenue. However, the three companies are all down between 8.4% and 11.5%. The broader iShares Dow Jones US Home Construction ETF (ITB 21.53, -1.02) trades down 4.5%.

Today's economic data was limited to weekly initial claims and June durable orders.

The initial claims level increased to 343,000 for the week ending July 20 from an upwardly revised 336,000 (from 334,000) for the week ending July 13. The Briefing.com consensus expected the initial claims level to increase to 340,000. Over the past few weeks, the Department of Labor has acknowledged that its seasonal adjustments are failing to correct for layoffs in the auto and education sectors. This has caused unusual volatility in the headline claims level.

Separately, durable goods orders rose 4.2% in June after increasing an upwardly revised 5.2% (from 3.7%) in May. The Briefing.com consensus expected orders to increase 1.8%. The durables report serves as a perfect example of a strong headline number masking significant weakness that is taking effect across almost every sector.

As expected from Boeing's (BA 106.82, -0.13) orders report, transportation orders were strong in June. Orders rose 12.8% as defense and nondefense aircraft orders increased 29.2%. Outside of transportation, however, nearly every durables sector fell in June. Only machinery (+2.4%) and fabricated metals products (+0.1%) showed positive growth.

That left durable goods orders excluding transportation flat for the month after increasing 1.0% in May. The consensus expected these orders to increase 0.3%.DJ30 +4.28 NASDAQ +21.28 SP500 +2.32 NASDAQ Adv/Vol/Dec 1570/1.19 bln/858 NYSE Adv/Vol/Dec 1483/297.9 mln/1486

12:35 pm : Recent action saw the S&P 500 climb within a point of its unchanged level. However, the S&P's ability to stage a meaningful rally is likely to depend on the afternoon performance of financials (-0.4%), industrials (-0.4%), and discretionary shares (-0.2%). The three sectors account for more than 35% of the S&P and they have shown significant weakness through the first-half of the session.

On the upside, the outperformance of two other influential sectors, health care (+0.2%) and energy (+0.3%) has provided the broader market with a measure of support.

Elsewhere, Treasuries have climbed off their lows but yields remain slightly elevated. The benchmark 10-yr yield is higher by two basis points at 2.61%. sector components. The PHLX Semiconductor Index is off by 0.3%.DJ30 -41.61 NASDAQ +14.66 SP500 -1.10 NASDAQ Adv/Vol/Dec 1493/1.10 bln/924 NYSE Adv/Vol/Dec 1345/274.5 mln/1604

12:00 pm : The S&P 500 remains near its lows while the Nasdaq continues to hold a slim gain. However, the outperformance of the Nasdaq has not translated into general strength for the technology sector.

Facebook (FB 32.94, +6.42) and Qualcomm (QCOM 63.34, +1.95) are among notable sector leaders, but their gains have been overshadowed by the underperformance of several large components. Apple (AAPL 437.80, -2.71), Google (GOOG 889.95, -12.95), and Microsoft (MSFT 31.35, -0.61) are all down between 0.6% and 1.9%.

However, chipmakers have fared a bit better than top sector components. The PHLX Semiconductor Index is off by 0.3%.DJ30 -69.40 NASDAQ +4.63 SP500 -4.14 NASDAQ Adv/Vol/Dec 1316/984.1 mln/1068 NYSE Adv/Vol/Dec 1138/246.2 mln/1791

11:30 am : The S&P 500 has returned to its opening lows as the continued weakness of the industrial sector weighs on the broader market.

Industrials have been pressured by transportation-related names. The Dow Jones Transportation Average trades with a loss of 1.3% as airlines lag. Alaska Air (ALK 59.34, -1.82), Southwest Airlines (LUV 13.40, -0.37), and United Continental (UAL 33.58, -1.39) are all down near 3.0% after reporting earnings. United Continental topped its earnings estimates while Southwest reported in-line results. For its part, Alaska Air reported a bottom-line miss on in-line revenue.

In addition, shipper Kirby (KEX 80.61, -2.25) is lower by 2.7% despite reporting better-than-expected results.DJ30 -85.35 NASDAQ +1.08 SP500 -5.56 NASDAQ Adv/Vol/Dec 1271/881.1 mln/1097 NYSE Adv/Vol/Dec 1094/217.5 mln/1808

11:00 am : The major averages continue to trade in mixed fashion. The Nasdaq hovers near its highs with a gain of 0.3% while the S&P 500 sits just below its flat line after erasing most of its opening losses.

Financials (-0.4%) and industrials (-0.6%) continue to weigh on the broader market while the relative strength of health care (+0.1%), energy (+0.1%), materials (+0.6%), and staples (+0.2%) has helped the benchmark index climb off its lows.

The materials sector leads the way with Dow Chemical (DOW 34.92, +0.55) and International Paper (IP 49.20, +1.99) providing the growth-oriented space with support. Dow reported an earnings beat on solid revenue while International Paper delivered in-line earnings on a 3.6% year-over-year increase in revenue. Gold miners have also displayed some strength. The Market Vectors Gold Miners ETF (GDX 27.31, +0.36) is higher by 1.4%. On a related note, gold futures trade up 0.4% at $1324.60 per troy ounce.DJ30 -54.25 NASDAQ +10.85 SP500 -1.20 NASDAQ Adv/Vol/Dec 1395/733.4 mln/935 NYSE Adv/Vol/Dec 1280/181.2 mln/1561

10:40 am : Commodities are volatile this morning. Crude oil sold off sharply in recent trade, falling about $1.20/barrel to a new LoD. Aug crude is now -0.8% at $104.50/barrel.

Natural gas sold off earlier this morning, but spiked to a new HoD following the weekly inventory data (Natural gas inventory showed a build of 41 bcf vs expectations for a build of 45-46 bcf). Aug nat gas is now -0.7% at $3.67/MMBtu.

Gold and silver gained steam almost four hours ago and have climbed higher since, excluding the last few mintues of trade. Aug gold is now +0.3% at $1323/oz, while Sept silver is +0.5% t o $20.12/oz.DJ30 -53.48 NASDAQ +10.38 SP500 -1.79 NASDAQ Adv/Vol/Dec 1315/644.6 mln/982 NYSE Adv/Vol/Dec 1177/160 mln/1648

10:00 am : The S&P 500 has erased the bulk of its opening losses as the outperformance of energy (+0.3%), materials (+0.4%), and utilities (+0.4%) outweighs the relative weakness of financials (-0.3%) and industrials (-0.5%).

Notably, today's early advancers finished yesterday's session among the laggards. The energy sector was yesterday's weakest performer and the group has provided early leadership today. On a related note, crude oil is lower by 0.3% at $105.09 per barrel.DJ30 -48.61 NASDAQ +12.97 SP500 -0.78 NASDAQ Adv/Vol/Dec 1219/385.8 mln/966 NYSE Adv/Vol/Dec 1248/97.9 mln/1489

09:45 am : The S&P 500 trades lower by 0.2% while the Nasdaq adds 0.1% thanks to the outperformance of technology. However, the broader market has been pressured by heavily-weighted health care (-0.6%), financial (-0.5%), and industrial (-0.5%) sectors.

In addition, the discretionary sector outperforms with a loss of 0.1% but home builders have shown broad weakness. DR Horton (DHI 79.65, -1.58), Ryland Group (RYL 37.81, -1.93) reported bottom-line beats and PulteGroup (PHM 16.88, -1.56) missed on earnings and revenue. However, the three companies are all down between 4.7% and 8.5%. The broader iShares Dow Jones US Home Construction ETF (ITB 21.71, -0.84) trades down 3.6%.DJ30 -66.58 NASDAQ +1.98 SP500 -3.58 NASDAQ Adv/Vol/Dec 968/281.1 mln/1152 NYSE Adv/Vol/Dec 1107/74.2 mln/1598

09:18 am : [BRIEFING.COM] S&P futures vs fair value: -3.90. Nasdaq futures vs fair value: +17.50. The major averages are poised to begin today's session on a mixed note. Nasdaq futures hold modest gains after several technology companies reported better-than-expected quarterly results. Meanwhile, the S&P 500 futures have climbed off their lows, but they continue to hold a loss of 0.4%.

Better-than-expected results from Biogen (BIIB 234.75, +8.14), Facebook (FB 34.89, +8.38), and Qualcomm (QCOM 63.40, +2.01) have contributed to the relative strength of Nasdaq futures while the broader market runs into resistance following its strong run off the June 24 low. Of the 21 sessions since June 24, the S&P ended 16 of those affairs with gains.

Treasuries are on their lows with the benchmark 10-yr yield higher by two basis points at 2.61%.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: +17.70. The S&P 500 futures trade lower by 0.4%.

Asian markets ended with losses across the board. The session was relatively quiet in terms of news releases. Regional economic data was limited. South Korea's GDP rose 1.1% quarter-over-quarter (0.8% expected, 0.8% previous) while the year-over-year reading increased 2.3% (2.0% expected, 1.5% prior). Japan's Corporate Services Price Index rose 0.4% year-over-year (0.7% expected, 0.3% prior). Separately, the weekly foreign bonds buying report indicated purchases of JPY549.3 billion (JPY1.11 trillion prior). Hong Kong's trade deficit widened to HKD49.7 billion from HKD44.3 billion (HKD48.2 billion expected). The Reserve Bank of New Zealand left its key interest rate unchanged at 2.50%, as expected. .

In Japan, the Nikkei finished lower by 1.1% as utility names lagged. Chubu Electric Power, Kansai Electric Power, and Tokyo Electric Power all lost between 1.2% and 7.0%. On the upside, Oki Electric added 1.0%.
Hong Kong's Hang Seng shed 0.3% as financials lagged. AIA Group and Ping An Insurance both lost near 1.5%. Property names displayed strength with China Resources Land and China Overseas Land & Investment both gaining near 1.0%.
In China, the Shanghai Composite settled lower by 0.6% as technology names pressured the index. Datang Telecom, Shanghai Great Wisdom, and Shenzhen Kingdom Sci-Tech all dropped near 9.0%.

Major European indices have climbed off their lows, but they remain in negative territory. Looking at economic data, Eurozone private loans declined 1.6% year-over-year (-1.1% expected, -1.1% prior) while M3 money supply rose 2.3% (3.0% expected, 2.9% prior). Germany's Ifo Business Climate Index rose to 106.2 from 105.9 (106.1 expected). The Current Assessment climbed to 110.1 from 109.4 (109.7 expected) while Business Expectations slipped to 102.4 from 102.5 (102.5 consensus). Italian consumer confidence rose to 97.3 from 95.8 (96.0 expected). Spain's unemployment rate came in at 26.26% (27.20% expected, 27.16% previous). Also of note, Great Britain's GDP rose 1.4% year-over-year, as expected. In addition, the Index of Services rose 0.8% (0.7% expected, 0.8% prior). Following the release of Great Britain's GDP, Chancellor George Osborne described the reading as 'better-than-forecast' and said the domestic economy is on the mend.

Great Britain's FTSE is lower by 0.7%. ARM Holdings leads to the downside with a loss of 4.5% following cautious analyst comments. Miners have also shown weakness. Anglo American, Fresnillo, and Glencore Xstrata are all down between 2.2% and 4.2%.
In France, the CAC is off by 0.7%. Telecom provider Orange is the weakest performer, down 4.7%. Financials are mixed as BNP Paribas adds 0.1% and Societe Generale sheds 0.8%.
Germany's DAX holds a loss of 1.2% as chemical producers lag. BASF and Lanxess are both down near 4.0% after BASF reported disappointing results. On the upside, Deutsche Post trades higher by 0.5%.

08:34 am : [BRIEFING.COM] S&P futures vs fair value: -4.70. Nasdaq futures vs fair value: +15.20. The S&P 500 futures trade lower by 0.5%.

The latest weekly initial jobless claims count totaled 343,000, which was higher than the 340,000 that had been expected by the Briefing.com consensus. Today's tally was above the revised prior week count of 336,000. As for continuing claims, they fell to 2.997 million from 3.116 million.

June durable goods orders increased by 4.2%, which was better than the 1.8% increase that had been expected among economists polled by Briefing.com. This comes after the prior month's reading was revised up to reflect an increase of 5.2%.

Excluding transportation related items, durable goods orders were unchanged, which was worse than the 0.3% increase that had been broadly anticipated.

07:58 am : [BRIEFING.COM] S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: +14.20. U.S. equity futures are mixed amid cautious overseas action. The S&P 500 futures trade lower by 0.4% while Nasdaq futures hold slim gains after several technology companies reported solid results.

Reviewing overnight developments:

Asian markets ended in the red. Hong Kong's Hang Seng -0.3%, China's Shanghai Composite -0.6%, and Japan's Nikkei -1.1%.
Regional economic data was limited:
South Korea's GDP rose 1.1% quarter-over-quarter (0.8% expected, 0.8% previous) while the year-over-year reading increased 2.3% (2.0% expected, 1.5% prior).
Japan's Corporate Services Price Index rose 0.4% year-over-year (0.7% expected, 0.3% prior). Separately, the weekly foreign bonds buying report indicated purchases of JPY549.3 billion (JPY1.11 trillion prior).
Hong Kong's trade deficit widened to HKD49.7 billion from HKD44.3 billion (HKD48.2 billion expected).
The Reserve Bank of New Zealand left its key interest rate unchanged at 2.50%, as expected. o In news: The Chinese Labor Ministry described the second quarter employment situation as 'generally stable.'

Major European indices hover near their lows. France's CAC -0.7%, Great Britain's FTSE -0.8%, Germany's DAX -0.9%.
Looking at economic data:
Eurozone private loans declined 1.6% year-over-year (-1.1% expected, -1.1% prior) while M3 money supply rose 2.3% (3.0% expected, 2.9% prior).
Germany's Ifo Business Climate Index rose to 106.2 from 105.9 (106.1 expected). The Current Assessment climbed to 110.1 from 109.4 (109.7 expected) while Business Expectations slipped to 102.4 from 102.5 (102.5 consensus).
Italian consumer confidence rose to 97.3 from 95.8 (96.0 expected).
Spain's unemployment rate came in at 26.26% (27.20% expected, 27.16% previous).
Great Britain's GDP rose 1.4% year-over-year, as expected. In addition, the Index of Services rose 0.8% (0.7% expected, 0.8% prior).
In news:
Following the release of Great Britain's GDP, Chancellor George Osborne described the reading as 'better-than-forecast' and said the domestic economy is on the mend.

In U.S. corporate news:

3M (MMM 116.00, -0.33) is -0.3% after reporting in-line results.
Baidu.com (BIDU 128.30, +14.93) is +13.2% after beating on earnings and revenue.
Biogen (BIIB 240.00, +13.39) is +5.9% after beating on earnings and revenue. In addition, the company raised its full-year 2013 earnings and revenue guidance above analyst expectations.
DR Horton (DHI 20.98, -0.22) is -1.0% after reporting a bottom-line beat on below-consensus revenue.
F5 Networks (FFIV 88.25, +6.83) is +8.4% after beating on earnings and revenue.
Facebook (FB 32.86, +6.35) is +23.9% following its earnings beat on above-consensus revenue.
O'Reilly Auto (ORLY 120.00, +2.17) is +1.8% after reporting an earnings beat on in-line revenue.
Qualcomm (QCOM 62.99, +1.60) is +2.6% after reporting in-line earnings on better-than-expected revenue.
Ryland Group (RYL 40.40, +0.66) is +1.7% following a bottom-line beat.
TripAdvisor (TRIP 70.00, +8.86) is +14.5% after beating on earnings and revenue.
Under Armour (UA 67.25, +5.42) is +8.8% after the company beat on earnings and revenue.
Visa (V 190.50, +3.75) is +2.0% after beating on earnings and revenue.
Western Digital (WDC 64.20, -3.33) is -4.9% after the company's cautious first quarter guidance overshadowed its earnings and revenue beat.

Weekly initial claims and June durable orders will be reported at 8:30 ET.

The U.S. Treasury will auction $29 billion in 7-yr notes.

07:11 am : [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: +7.70.

07:11 am : Nikkei...14562.93...-168.40...-1.10%. Hang Seng...21900.96...-68.00...-0.30%.

07:11 am : FTSE...6542.05...-78.40...-1.20%. DAX...8274.82...-104.30...-1.20%.

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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