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 Post subject: August 5th Monday Trade Results - Profit $2370.00
PostPosted: Tue Aug 06, 2013 6:59 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $870.00 dollars or +8.70 points, Emini ES ($ES_F) futures @ $1500.00 dollars or +30.00 points, Light Crude Oil CL ($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 @ $2370.00 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=120&t=1571

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=216&t=1913

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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.

Stocks End With A Whimper

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

NEW YORK (CNNMoney)
Stocks ended with a whimper Monday, after hitting record highs once again last week.

The Dow Jones industrial average and the S&P 500 dipped slightly. The Nasdaq closed slightly higher. Yet all three indexes are up between 19% and 22% this year.

On a quiet week for economic and earnings data, Monday's dip seems more related to gravity (what goes up must come down) than anything specific.

The one piece of data out Monday didn't move markets: The Institute for Supply Management's monthly service-sector index came in above expectations.

Looking at stocks on the move, Tyson Foods (TSN, Fortune 500) was one of the biggest gainers in the S&P 500 after the meat processor reported better-than-expected earnings.

HSBC (HBC) shares dropped after the company reported results for the first half of the year that disappointed investors. The company announced an increase in revenue and profit before tax over the previous year as it sold assets.

Tech stocks stay in focus: Apple's (AAPL, Fortune 500) stock rose modestly, after the Obama administration vetoed an International Trade Commission import ban on some of its products.

Traders on StockTwits found other reasons to buy the stock Monday:

SkepticalBull: As I said 30 points lower, buy $AAPL now b4 the new products. That is what Cook is doing with the buyback- a massive public insider trade!

Morpheus: $AAPL announcing a China Mobile deal today tomorrow or this week would be a nice wake up call to the 'what have u done for me lately' crowd.

Facebook (FB) continued to rise. Shares of the social network climbed higher than $39 Monday. The stock finished above its $38 IPO price last week for the first time since it went public.

* Something to Yelp about for investors

Shares of Yelp (YELP), the business review website, took a step back Monday, dipping 5%. Yelp had soared more than 35% since reporting earnings last week.

Blackberry (BBRY) shares rose more than 7% without an obvious catalyst. Some traders on StockTwits pointed to a leak of the image of a new Blackberry as a possible reason for the jump.

NBohrQM: $BBRY BlackBerry rallying, possibly due to image leaks http://stks.co/gfuK

NVTino: $BBRY today is not based on any rumors other than it is dirt cheap at these prices and going much higher.

Image



4:15 pm : The S&P 500 ended today's quiet session modestly lower with eight of ten sectors settling in the red.

Stocks slipped out of the gate after better-than-expected economic data from China and Great Britain was unable to spark an early bid. In China, the Non-Manufacturing PMI rose to 54.1 from 53.9 while Great Britain's Services PMI posted its best reading since 2006, rising to 60.2 from 56.9.

Equities climbed off their early lows before receiving an additional push following the release of the ISM Non-Manufacturing Index, which posted its best reading since February 2011. The index jumped to 56.0 from 52.2 as business activity and production levels spiked to 60.4 in July from 51.7 in June. Just like the manufacturing report, the jump in production came from a strong gain in new orders (57.7 from 50.8).

Although today's data provided stocks with a boost, the S&P never made it into the green as comments from Dallas Fed President Richard Fisher knocked the key indices off their highs. Mr. Fisher said the Fed's bond buying program may lay the groundwork for misallocation of resources and fuel future inflation. In addition, he said the market could expect a slowdown in asset purchases later in the year if the economy continues to "improve along the lines envisioned by the Committee."

These remarks caused the S&P to return to the middle of its range while the tech-heavy Nasdaq briefly slipped into the red before regaining its flat line during afternoon action. On a related note, the technology sector tacked on 0.2% as the largest sector component, Apple (AAPL 469.45, +6.91), rose 1.5% after an International Trade Commission ban on certain devices made by the company was overturned.

Outside of technology, only the consumer staples sector (+0.1%) managed to eke out an advance. Tyson Foods (TSN 29.69, +1.18) jumped 4.1% after beating on earnings and revenue.

While the outperformance of technology boosted the Nasdaq, the S&P was kept from turning positive as energy, industrials, and discretionary shares weighed.

The energy space shed 0.3% as crude oil endured a volatile session. The energy component was down as much as 1.1% at the open before trimming its loss to 0.4% at $106.49 per barrel.

Elsewhere, industrials lagged amid weakness in transportation companies. The Dow Jones Transportation Average lost 0.8% as 18 of 20 components ended in the red.

Lastly, broad weakness among home builders pressured the discretionary sector. The iShares Dow Jones US Home Construction ETF (ITB 22.38, -0.33) lost 1.5%.

Similar to stocks, Treasuries spent the entire session near their lows. The benchmark 10-yr yield added four basis points to end at 2.65%.

As mentioned earlier, today's volume was well below average as only 533 million shares changed hands on the floor of the New York Stock Exchange. This represented the third lowest total of the year.

Tomorrow, the June trade balance will be reported at 8:30 ET. The U.S. Treasury will auction $32 billion in 3-yr notes.DJ30 -46.23 NASDAQ +3.36 SP500 -2.53 NASDAQ Adv/Vol/Dec 1427/1.43 bln/1068 NYSE Adv/Vol/Dec 1248/533.0 mln/1778

3:30 pm :

Sep crude oil erased most of its earlier losses as it gained support from the strongest reading of the ISM Non-Manufacturing Index since Feb 2011. The energy component climbed off its session low of $105.70 per barrel and brushed a session high of $107.06 per barrel. It settled just 0.3% lower at $106.56 per barrel.
Sep natural gas, on the other hand, pulled back from its session high of $3.36 per MMBtu and fell into negative territory. It brushed a session low of $3.31 per MMBtu and eventually settled with a 0.9% loss at $3.32 per MMBtu.
Precious metals traded in the red following the better-than-anticipated economic data released this morning.
Dec gold retreated from its session high of $1310.20 per ounce and touched a session low of $1296.70 per ounce. Unable to erase much of the loss, it settled 0.6% lower at $1301.90 per ounce.
Sep silver slipped to a session low of $19.52 per ounce moments after pit trade opened. It settled with a 1.0% loss at $19.72 per ounce, slightly below its session high of $19.75 per ounce.

DJ30 -37.17 NASDAQ +0.62 SP500 -2.32 NASDAQ Adv/Vol/Dec 1325/1189.3 mln/1156 NYSE Adv/Vol/Dec 1140/356 mln/1857

3:00 pm : The S&P 500 trades lower by 0.2% as today's session enters its final hour. Similar to equities, the foreign exchange market has been relatively quiet today. Currently, the Dollar Index is off by 0.1% after the greenback's early gains turned into losses. The bulk of today's dollar weakness has come against the British pound and the Japanese yen.

Pound/dollar is higher by 0.4% at 1.5358 as trade outperforms following today's better-than-anticipated ISM Services reading. The pair has tacked on close to 250 pips over the past two sessions thanks to above-consensus data.

Elsewhere, dollar/yen is lower by 0.6% at 98.33 as sellers remain in control for a second session. A slow day of news from Japan has allowed the downtrend off the July highs to remain in place as trade approaches a test of support in the 98.00 area.DJ30 -46.52 NASDAQ -2.95 SP500 -3.13 NASDAQ Adv/Vol/Dec 1293/1.08 bln/1188 NYSE Adv/Vol/Dec 1097/322.1 mln/1886

2:30 pm : Quiet afternoon continues with the S&P 500 lower by 0.2%. Energy (-0.4%) and utilities (-0.5%) remain at the bottom of the leaderboard while consumer staples (+0.01%) and technology (+0.03%) hold slim gains.

Despite its modest loss, the S&P has held up relatively well considering the negative market breadth that has persisted through the afternoon. Currently, there are 1.6 decliners for every advancing issue on the New York Stock Exchange.

Today's intraday volume has been running well below average and with 90 minutes to go in the session, less than 300 million shares have changed hands on the floor of the New York Stock Exchange.DJ30 -58.64 NASDAQ -2.71 SP500 -3.85 NASDAQ Adv/Vol/Dec 1292/995.9 mln/1187 NYSE Adv/Vol/Dec 1091/295.4 mln/1881

1:55 pm : Recent action has not produced much change in the major averages as the S&P 500 continues to trade lower by 0.2%. Meanwhile, the Nasdaq trades flat and the Dow lags with a loss of 0.3%.

The Dow trails behind the broader market as 22 of 30 components register losses. Exxon Mobil (XOM 91.13, -0.82), Home Depot (HD 79.61, -0.62), Travelers (TRV 83.06, -0.94), and United Technologies (UTX 106.67, -1.10) are all down near 1.0% and their weakness has pressured the price-weighted index.

Similar to equities, Treasuries continue to hold their levels with the benchmark 10-yr yield lower by five basis points at 2.65%.DJ30 -50.60 NASDAQ +0.06 SP500 -2.89 NASDAQ Adv/Vol/Dec 1269/914.7 mln/1187 NYSE Adv/Vol/Dec 1119/268.2 mln/1835

1:25 pm : The stock market is in a bit of a funk today, unable to build on Friday's rebound from opening lows that followed the disappointing July employment report.

Notably, the stock market had a positive economic catalyst today in the form of the July ISM Services Index, which followed form with other services PMI readings out of China and Europe, and was better than expected at 56.0 (Briefing.com consensus 53.2; prior 52.2). This report, though, has failed to catalyze an upside bid of strength. Accordingly, the lack of follow-through buying interest after a good number is being viewed by some as a cue to take some profits following a six-week winning streak for the market that was punctuated today with a TrimTabs report indicating inflows into US equity funds hit a record $40.3 bln in July.

Overall losses still remain modest in scope when pitted against the fact that the S&P 500 had surged nearly 10% at Friday's closing level from its intraday low on June 24. There isn't a single economic sector that is down more than 0.7% at this juncture.DJ30 -62.28 NASDAQ -3.39 SP500 -4.32 NASDAQ Adv/Vol/Dec 1252/839 mln/1194 NYSE Adv/Vol/Dec 1095/246 mln/1856

1:00 pm : Equities began the session in the red after better-than-expected economic data from China and Great Britain failed to spark an early bid. China's Non-Manufacturing PMI rose to 54.1 from 53.9 while Great Britain's Services PMI posted its best reading since 2006, rising to 60.2 from 56.9.

The opening losses were limited, and the subsequent rebound off session lows was aided by the strongest reading of the ISM Non-Manufacturing Index since February 2011 as the index jumped to 56.0 from 52.2. Business activity and production levels spiked to 60.4 in July from 51.7 in June. Just like the manufacturing report, the jump in production came from a strong gain in new orders (57.7 from 50.8).

Stocks climbed off their early lows before comments from Dallas Fed President Richard Fisher short-circuited the rebound. Mr. Fisher said the Fed's bond buying program may lay the groundwork for misallocation of resources and fuel future inflation. In addition, he said the market could expect a slowdown in asset purchases later in the year if the economy continues to "improve along the lines envisioned by the Committee."

Mr. Fisher is not a voting member of the FOMC but his comments have resonated with the markets. The S&P 500 was flirting with positive territory before retreating in reaction to the remarks. Meanwhile, the Nasdaq, which had spent some time in the green, has dropped back into the red.

Technology shares have made a contribution to the rebound as a handful of top sector components display strength. Apple (AAPL 468.52, +5.98) is higher by 1.3% after an International Trade Commission ban on certain devices made by the company was overturned.

In addition to technology, consumer staples and telecom services are the only other two sectors trading ahead of the broader market.

The S&P has been held back from turning positive by the underperformance of energy, industrials, and discretionary shares. The energy sector is off by 0.5% while crude oil is little changed at $106.85 per barrel after being down as much as 1.1% at the open.

Elsewhere, the industrial sector has been pressured by transportation companies as the Dow Jones Transportation Average trades down 0.7%.

Also of note, the underperformance of home builders has pressured the discretionary sector. The iShares Dow Jones US Home Construction ETF (ITB 22.39, -0.32) is lower by 1.4%.

Treasuries are hovering near their lowest levels of the day with the benchmark 10-yr yield higher by five basis points at 2.66%.DJ30 -55.10 NASDAQ -2.63 SP500 -3.22 NASDAQ Adv/Vol/Dec 1281/774.4 mln/1146 NYSE Adv/Vol/Dec 1148/227.6 mln/1781

12:25 pm : The S&P 500 continues to hold its recent levels while the Nasdaq has returned into positive territory as the technology sector adds 0.1%.

The relative strength of tech shares has helped the S&P climb off its lows, but the underperformance of energy, industrials, and discretionary shares continues to weigh on the broader market. The energy sector is lower by 0.4% and crude oil has erased its 1.1% loss.

The energy component is currently unchanged at $106.87 per barrel.

Elsewhere, the industrial sector has been pressured by transportation-related names. The Dow Jones Transportation Average is lower by 0.6%.

Also of note, home builders have pressured the discretionary sector and the iShares Dow Jones US Home Construction ETF (ITB 22.41, -0.30) is lower by 1.3%.DJ30 -47.25 NASDAQ +1.04 SP500 -1.99 NASDAQ Adv/Vol/Dec 1336/703.3 mln/1086 NYSE Adv/Vol/Dec 1254/207.1 mln/1664

12:00 pm : The major averages got knocked back from their session highs by comments from Dallas Fed President Richard Fisher, who said the Fed's bond buying program may lay the groundwork for misallocation of resources and fuel future inflation. In addition, Mr. Fisher said the market could expect a slowdown in asset purchases if the economy continues to "improve along the lines envisioned by the Committee."

Mr. Fisher is not a voting member of the FOMC but his comments have resonated with the markets. The S&P 500 was flirting with positive territory before retreating in reaction to Mr. Fisher's remarks. Meanwhile, the Nasdaq, which had spent almost an hour in the green, has dropped back into the red.

Treasuries continue to hover near their lows with the benchmark 10-yr yield higher by five basis points at 2.65%.DJ30 -50.23 NASDAQ -2.16 SP500 -2.54 NASDAQ Adv/Vol/Dec 1314/630.2 mln/1099 NYSE Adv/Vol/Dec 1200/187.2 mln/1713

11:30 am : The major averages continue to trade in mixed fashion with the Nasdaq holding a slim gain of 0.1% while the Dow and S&P 500 underperform.

Although the S&P remains in the red, five of ten sectors have climbed into positive territory. Technology and telecom services both hold gains of 0.2% each while consumer staples, health care, and financials follow closely.

The energy sector remains among the laggards despite the rebound in crude oil. The energy component now trades flat after being down as much as 1.1% in early action.DJ30 -46.73 NASDAQ +2.66 SP500 -1.88 NASDAQ Adv/Vol/Dec 1316/554.3 mln/1085 NYSE Adv/Vol/Dec 1232/169.2 mln/1667

10:55 am : The S&P 500 has trimmed its opening loss to less than two points while the tech-heavy Nasdaq has climbed into positive territory.

Similar to the Nasdaq, the technology sector (+0.2%) trades at its best level of the day as most top components post gains. Apple (AAPL 468.72, +6.18) is higher by 1.3% after an International Trade Commission ban on certain devices made by the company was overturned. Although major tech components trade in the green, chipmakers are mixed. The PHLX Semiconductor Index is off by 0.2%.

On the downside, energy and utilities are the two weakest sectors as they hold respective losses of 0.4% and 0.6%.DJ30 -38.89 NASDAQ +2.37 SP500 -1.59 NASDAQ Adv/Vol/Dec 1307/435.2 mln/1056 NYSE Adv/Vol/Dec 1212/138.3 mln/1642

10:35 am : Commodities are mostly lower this morning, while the dollar index is modestly higher.

Crude oil rose as high as $107.69/barrel in overnight, but sold off since hitting that level, falling almost $2/barrel to a new recently-hit LoD of $105.70/barrel. Sept crude is now -0.3% at $106.56/barrel.

Natural gas was in the red in overnight and in morning action, but rallied in recent activity, moving back into positive territory. Sept nat gas is now -0.1% at $3.35/barrel.

Precious metals have been trending lower today. Dec gold is now -0.4% at $1305.90/oz and Sept silver is -1.0% at $19.71/oz. DJ30 -30.41 NASDAQ -0.30 SP500 -1.66 NASDAQ Adv/Vol/Dec 1209/339.0 mln/1105 NYSE Adv/Vol/Dec 1144/114 mln/1693

10:00 am : The S&P 500 trades lower by 0.2%.

The July ISM Services Index was reported at 56.0, above the 53.2 forecast by the Briefing.com consensus, and up from the June reading of 52.2.DJ30 -49.10 NASDAQ -1.61 SP500 -2.81 NASDAQ Adv/Vol/Dec 1072/198.2 mln/1160 NYSE Adv/Vol/Dec 1070/79.9 mln/1699

09:45 am : The major averages began the session in the red with all ten sectors registering early losses. The S&P 500 is off by 0.3% with the energy sector displaying the largest loss (-0.5%) as crude oil trades lower by 0.8% at $106.03 per barrel.

On the upside, the consumer staples sector is little changed and the health care space outperforms with a loss of 0.1%. Meanwhile, the other two defensive groups, utilities and telecom services, are both down near 0.4%.

Similar to stocks, Treasuries are near their lows with the benchmark 10-yr yield higher by three basis points at 2.63%.DJ30 -53.95 NASDAQ -4.30 SP500 -4.63 NASDAQ Adv/Vol/Dec 973/97.7 mln/1189 NYSE Adv/Vol/Dec 926/54.3 mln/1778

09:15 am : S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -3.00. With 15 minutes to go before the start of today's cash session, equity futures signal a modestly lower start. The S&P 500 futures trade with a slim loss of 0.2% after spending pre-market action in negative territory.

Overseas, Asian markets ended mostly higher while Japan's Nikkei underperformed other regional indices as the yen strengthened, pressuring the dollar/yen pair to 98.50. Elsewhere, European markets are little changed and Great Britain's FTSE is off by 0.4% even after the country's Services PMI spiked to its best level since 2006.

Today's economic data will be limited to the July ISM Services report, which will be released at 10:00 ET.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: -3.70. Nasdaq futures vs fair value: -3.00. The S&P 500 futures trade lower by 0.2%.

Asian markets ended in mixed fashion with China's Shanghai Composite leading the way with a gain of 1.0% after the HSBC Services PMI remained unchanged at 51.3. In other economic data, India's HSBC Services PMI slipped to 47.9 from 51.7. In Australia, retail sales were unchanged month-over-month (0.4% expected, 0.2% prior) while the AIG Services Index slipped to 39.4 from 41.5. In addition, the MI Inflation Gauge ticked up 0.5% month-over-month (0.0% prior) and the ANZ Commodity Price Index rose 0.6% month-over-month (-3.7% previous). Also of note, Australia's Prime Minister Kevin Rudd has announced national elections will take place on September 7th.

Japan's Nikkei closed lower by 1.4% as exporters lagged. Mazda Motor and Toyota Motor fell 4.1% and 1.1%, respectively. On the upside, apparel producers outperformed. Toyobo and Unitika both lost near 6.0%.
In Hong Kong, the Hang Seng added 0.1% as property names outperformed. China Resources Land and Hang Lung Properties gained 1.3% and 0.6%, respectively. Want Want China Holdings was among the laggards, down 3.2%.
In China, the Shanghai Composite advanced 1.0% as technology names displayed strength. Chengdu Dr Peng Telecom jumped 8.9% and Universal Scientific Industrial Shanghai spiked 8.2%. Industrials lagged with Fujian Longking down 4.2%.

Major European indices are little changed following the release of several regional PMI readings. Eurozone Services PMI climbed to 49.8 from 49.6 (49.6 expected). Meanwhile, retail sales declined 0.5% month-over-month (-0.6% forecast, 1.1% prior) and Sentix Investor Confidence improved to -4.9 from -12.6 (-10.0 expected). Germany's Services PMI slipped to 51.3 from 52.5 (52.5 expected). Great Britain's Services PMI rose to 60.2 from 56.9 (57.2 forecast). French Services PMI ticked up to 48.6 from 48.3 (48.3 expected). Italian Services PMI jumped to 48.7 from 45.8 (46.5 expected). Spanish Services PMI rose to 48.5 from 47.8 (48.0 forecast).

In news, Greek Finance Minister Yannis Stournaras said the country's funding obligations until August 2014 are fully covered.

Great Britain's FTSE is lower by 0.4% as financials lag. HSBC is lower by 5.0% after missing on earnings. In addition, Admiral Group and Royal Bank of Scotland are both down near 2.0%. Miners are among the outperformers with Vedanta Resources rising 3.3%.
In Germany, the DAX is higher by 0.1% as consumer names register gains while utilities lag. Adidas trades higher by 1.1% and RWE is lower by 2.9%.
France's CAC is higher by 0.1% with bank shares outperforming. Credit Agricole is higher by 2.1% and Societe Generale trades up 1.0%. On the downside, Danone is off by 1.7%.

08:29 am : [BRIEFING.COM] S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: -2.50. The S&P 500 futures trade lower by 0.1% amid mixed European action where indices hover little changed following the release of several Services PMI readings. Notably, Great Britain's Services PMI has jumped to 60.2, its best reading since the survey began in 1998. However, the country's FTSE trades lower by 0.2% as financials lag after HSBC reported disappointing earnings.

Meanwhile, the U.S. earnings calendar contains just a handful of names. Tyson Foods (TSN 29.37, +0.86) is among the early advancers after beating on earnings and revenue.

Today's economic data will be limited to the July ISM Services report, which will cross the wires at 10:00 ET.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -0.30. U.S. equity futures are little changed amid mixed overseas action.

Looking at overnight developments:

Asian markets ended in mixed fashion. Japan's Nikkei -1.4%, Hong Kong's Hang Seng +0.1%, China's Shanghai Composite +1.0%.
In regional economic data:
China's HSBC Services PMI remained unchanged at 51.3.
Australia's retail sales were unchanged month-over-month (0.4% expected, 0.2% prior) while the AIG Services Index slipped to 39.4 from 41.5. In addition, the MI Inflation Gauge ticked up 0.5% month-over-month (0.0% prior) and the ANZ Commodity Price Index rose 0.6% month-over-month (-3.7% previous).
India's HSBC Services PMI slipped to 47.9 from 51.7.
In news:
In Australia, Prime Minister Kevin Rudd has announced national elections will take place on September 7th.

Major European indices are little changed. Germany's DAX -0.1%, Great Britain's FTSE -0.1%, and France's CAC +0.2%.
Reviewing economic data:
Eurozone Services PMI climbed to 49.8 from 49.6 (49.6 expected). Meanwhile, retail sales declined 0.5% month-over-month (-0.6% forecast, 1.1% prior) and Sentix Investor Confidence improved to -4.9 from -12.6 (-10.0 expected).
Germany's Services PMI slipped to 51.3 from 52.5 (52.5 expected).
Great Britain's Services PMI jumped to 60.2 from 56.9 (57.2 forecast).
French Services PMI ticked up to 48.6 from 48.3 (48.3 expected).
Italian Services PMI jumped to 48.7 from 45.8 (46.5 expected).
Spanish Services PMI rose to 48.5 from 47.8 (48.0 forecast).
Looking at news:
Greek Finance Minister Yannis Stournaras said the country's funding obligations until August 2014 are fully covered.

In U.S. corporate news:

Apple (AAPL 466.45, +3.91) is +0.9% after an International Trade Commission ban on certain devices made by the company was overturned.
Tyson Foods (TSN 29.52, +1.01) is +3.5% after beating on earnings and revenue.

The July ISM Services report will cross the wires at 10:00 ET.

07:12 am : [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: +0.20.

07:12 am : Nikkei...14258.04...-208.10...-1.40%. Hang Seng...22222.01...+31.00...+0.10%.

07:12 am : FTSE...16688.63...-90.60...-0.50%. DAX...8402.25...-4.70...-0.10%.

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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