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 Post subject: August 7th Wednesday Trade Results - Profit $4087.50
PostPosted: Wed Aug 07, 2013 10:55 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $2050.00 dollars or +20.50 points, Emini ES ($ES_F) futures @ $937.50 dollars or +18.75 points, Light Crude Oil CL ($CL_F) futures @ $1100.00 dollars or +1.10 points, Gold GC ($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 @ $4087.50 dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

In addition, all of my trades were posted real-time in the free ##TheStrategyLab chat room. You can read today's ##TheStrategyLab trading chat room logs for details about each one of my trades via price action trading from entry to exit (e.g. time, price, contract size) along with price action commentary as the trade traversed to its completion...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=120&t=1573

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 Down For Third Straight Day

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

NEW YORK (CNNMoney)
Tapering fears are back. Stocks finished in the red Wednesday amid new talk that the Federal Reserve may soon begin to slow the pace of its controversial asset purchases.

The Dow Jones industrial average and S&P 500 declined for a third day. It appears that statements from Chicago Fed president Charles Evans and Atlanta Fed president Dennis Lockhart on Tuesday about the Fed possibly pulling back on, or tapering, its bond purchases as soon as next month continued to spook investors. The Nasdaq slipped as well.

The prospect of the Fed cutting back on its massive quantitative easing campaign, which has helped push U.S. stocks to record highs, had investors feeling "uneasy," according to Ishaq Siddiqi, a market strategist at ETX Capital in London. And since Evans is both a well-known Fed dove and a member of the central bank's policy committee this year, the comments are particularly unnerving for traders.

Despite this week's sell-off, the Dow and S&P 500 are only down a little over 1% from the all-time highs reached on Friday. And all three indexes are still up between 18% to 21% so far this year.

What's moving: Earnings continue to roll in Wednesday. CNNMoney parent Time Warner (TWX, Fortune 500) raised its guidance and reported a 25% jump in operating income, helped by strong revenue from movie blockbusters like "Man of Steel" and television shows like HBO's "Game of Thrones" and "Girls.

AOL (AOL) reported earnings and sales that beat estimates, and announced plans to buy video ad start-up Adap.tv for $405 million. The acquisition generated plenty of buzz among traders on StockTwits.

ESCapAdv: $AOL makes a video buy with Adap.TV for $400 million in cash and stock. Is AOL resurrected?

EricSteiman: $AOL Buys Adap.tv. Wouldn't be shocked to see $YHOO making a video play near term

Zillow (Z) shares tumbled after the real estate website company swung to a second-quarter loss. But Zillow's stock has been on a tear in 2013. Shares are up 200% year-to-date, as investors bet on a housing recovery. Since early July alone, shares have rallied 50%.

jfahmy: Zillow is a classic example of "buy the rumor, sell the news," as the stock ran over +50% ahead of its earnings $Z

First Solar (FSLR)shares plunged a day after the solar panel maker widely missed analysts' estimates for both profit and revenue. First Solar also trimmed its outlook. Shares of rival Solar Cit (SCTY)y also tumbled, but traders were quick to not the differences between the two.

Tenaciousvalor: $SCTY business model is completely different from $FSLR. They're operating at full capacity. Business is booming. I this for a fact! BULLISH

StarPower: I hate $FSLR. Always dragging $SCTY with it. Different companies. SCTY is much better hedged, no comparison.

Solar City, which is chaired by Tesla CEO Elon Musk, reported better-than-expected earnings after the closing bell, sending shares higher in after-hours trading.

Tesla Motors (TSLA) also topped forecasts. The company reported a surprise profits and shares jumped to a new all-time high after hours.

Groupon (GRPN) shares soared after hours. The daily deals company posted sales that topped forecasts and announced a share buyback program.

But Green Mountain Coffee Roasters (GMCR) sales figures fell short of expectations, and shares sunk after hours.

Image



4:10 pm : The S&P 500 settled lower by 0.4% to register its third consecutive decline. The benchmark index fell to its lows during the first hour of action before spending the remainder of the session in a slow climb.

Stocks sold off at the open after Asian indices endured a downbeat session with Japan's Nikkei falling 4.0% as dollar/yen continued its recent weakness. The pair fell below 97.00 into the Asian close and additional selling during the U.S. session pressured it into the 96.50 area.

The relative strength of most countercyclical sectors helped the benchmark index erase about half of its losses during the afternoon. Health care and telecom services ended little changed while utilities registered a modest gain of 0.5%. For its part, the consumer staples sector (-0.5%) lagged.

Although the S&P was able to trim its losses, the index could not regain its flat line as the underperformance of influential cyclical sectors weighed. Financials and discretionary shares both lost near 0.8%. In addition, the industrial sector outperformed with a loss of 0.2%, but transportation companies lagged notably.

The Dow Jones Transportation Average fell 0.7% as trucking companies led to the downside. CH Robinson (CHRW 56.31, -3.27) tumbled 5.5% after missing on earnings and revenue. Peer YRC Worldwide (YRCW 23.52, -5.06) also endured a rough session after it too reported disappointing results.

Elsewhere, most major bank shares registered losses and Bank of America (BAC 14.53, -0.11) slid 0.8% after the Department of Justice filed a pair of lawsuits alleging the bank has engaged in investor fraud when selling $850 million in residential mortgage-backed securities.

Also of note, the discretionary sector displayed broad weakness with notable losses among home builders and retailers. The iShares Dow Jones US Home Construction ETF (ITB 21.41, -0.49) slumped 2.2% and the SPDR S&P Retail ETF (XRT 80.78, -1.19) lost 1.5%.

Treasuries registered modest gains and the benchmark 10-yr yield fell five basis points to 2.60%.

So far, this week has featured two light-volume sessions and today was not much different. With 629 million shares traded on the floor of the New York Stock Exchange, today's final tally came up short of the 50-day average, which sits near 763 million.

Today's economic news was limited to just two data points. The weekly MBA Mortgage Index ticked up 0.2% to follow seven consecutive contractionary readings, including last week's decline of 3.7%.

Separately, June consumer credit increased by $13.8 billion, which follows the prior month's increase of $17.5 billion, and is higher than the $16.0 billion that had been broadly expected among economists polled by Briefing.com.

Tomorrow, weekly initial claims will be reported at 8:30 ET.

The U.S. Treasury will auction $16 billion in 30-yr bonds.DJ30 -48.07 NASDAQ -11.76 SP500 -6.46 NASDAQ Adv/Vol/Dec 817/1.62 bln/1663 NYSE Adv/Vol/Dec 903/628.8 mln/2098

3:30 pm :

Sep crude oil declined for a fourth consecutive session as investors reacted to inventory data that showed a draw of 1.32 mln barrels when a draw of 1.2-1.5 bln was expected. The energy component slipped to a session low of $104.16 per barrel after trading as high as $105.53 per barrel. It eventually settled with a 0.9% loss at $104.37 per barrel.
Sep natural gas spent its entire session in negative territory. It retreated from its session high of $3.29 per MMBtu and settled 2.1% lower at $3.25 per MMBtu, just above its session low of $3.24 per MMBtu.
Dec gold erased early morning losses as it gained support from a weaker dollar index. The yellow metal came off its session low of $1275.10 per ounce and climbed as high as $1289.00 per ounce. It booked a 0.2% gain as it settled at $1284.70 per ounce.
Sep silver spent afternoon pit trade chopping around near the unchanged level after trading as low as $19.24 per ounce earlier in the session. It eventually settled with a 0.1% loss at $19.50 per ounce.

DJ30 -45.28 NASDAQ -11.30 SP500 -5.61 NASDAQ Adv/Vol/Dec 857/1369.5 mln/1616 NYSE Adv/Vol/Dec 908/427 mln/2062

3:00 pm : The S&P 500 trades lower by 0.4% as today's session enters its final hour.

According to the Federal Reserve, consumer credit increased by $13.8 billion in June. This follows the prior month's increase of $17.5 billion, and is higher than the $16.0 billion that had been broadly expected among economists polled by Briefing.com.DJ30 -54.29 NASDAQ -11.49 SP500 -6.15 NASDAQ Adv/Vol/Dec 860/1.23 bln/1613 NYSE Adv/Vol/Dec 888/385.8 mln/2085

2:30 pm : The S&P 500 trades lower by 0.4% as the quiet afternoon continues.

Similar to equities, the dollar index is enduring its third down day in a row with the greenback seeing notable weakness against the British pound and the Japanese yen.

Pound/dollar is higher by 0.9% at 1.5500. Earlier today, the Bank of England released its latest quarterly inflation report, which was coupled with the central bank's first forward guidance statement. The forward guidance called for low interest rates to remain in place until the unemployment rate declines to 7.0%. Currently, the rate stands at 7.8%. In addition, the BoE raised its 2013 GDP growth forecast to 1.5% from 1.2%. The cable fell to 1.5200 immediately after the report was released, but a subsequent rally has run the pair to its current levels.

Elsewhere, dollar/yen is lower by 0.8% at 96.40. The pair has declined steadily over the past four sessions, sliding from 100.00 to its current levels, and the continued weakness has weighed on equities. The yen will be in focus tonight when the Bank of Japan holds its policy meeting.

The Federal Reserve will release the June consumer credit report at 15:00 ET.DJ30 -63.01 NASDAQ -14.79 SP500 -7.03 NASDAQ Adv/Vol/Dec 838/1.15 bln/1621 NYSE Adv/Vol/Dec 836/356.8 mln/2131

2:00 pm : Equities continue to hold their recent levels with the S&P 500 down 0.3%. With two hours left in today's session, most sectors have been able to climb off their lows. The recovery has been most notable among countercyclical groups as health care and utilities have crept back into positive territory.

With regards to cyclical sectors, the materials space holds a slim gain of 0.2% while the remaining groups continue to hover in negative territory. Two of today's biggest laggards, financials and discretionary shares, are lower by 0.9% and 0.7%, respectively.

Today's selling has caused the CBOE Volatility Index (VIX 13.20, +0.48) to build on yesterday's gains. Although the near-term volatility measure trades in positive territory, it has retreated from its session high of 13.91%.DJ30 -55.61 NASDAQ -14.34 SP500 -6.28 NASDAQ Adv/Vol/Dec 844/1.05 bln/1593 NYSE Adv/Vol/Dec 870/324.3 mln/2080

1:30 pm : The major averages continue to hover near their afternoon highs with the S&P 500 off by 0.4%. Recent action saw the materials sector (+0.2%) climb into positive territory, while the remaining cyclical groups continue to trail behind the broader market.

Treasuries have been relatively quiet all day and the recently concluded $24 billion 10-yr auction has not done much to move the needle. Treasuries saw some initial slippage after the conclusion of the auction, but have since reversed to fresh highs. The auction drew 2.620% and a light 2.45x bid/cover ratio, which was the weakest since March 2009. Indirect bidders took down 46.3% of the issue and their strong bid helped offset the slightly below-average direct bid of 15.2%.

The benchmark 10-yr yield is lower by four basis points at 2.61%.DJ30 -49.84 NASDAQ -14.62 SP500 -6.24 NASDAQ Adv/Vol/Dec 861/977.9 mln/1579 NYSE Adv/Vol/Dec 916/297.9 mln/2034

12:55 pm : The S&P 500 trades lower by 0.4% after starting the session with a slip out of the gate. The opening slide followed continued weakness in Asia where Japan's Nikkei tumbled 4.0% while the yen extended its recent gains, pressuring the dollar/yen pair below 97.00.

The benchmark index fell to its lows during the opening hour, and has traded within a six point range since. Defensively-oriented sectors have alternated between gains and losses, but only health care (+0.1%) and utilities (+0.5%) trade in the green at midday. Meanwhile, telecom services (-0.2%) outperform while consumer staples (-0.4%) trade in line with the S&P.

Although two of four countercyclical sectors have turned positive, the broader market has only trimmed roughly half of its losses as the underperformance of financial, industrial, technology, and discretionary sectors continues to weigh. The four groups are all down between 0.5% and 0.8% with financials leading the downside.

In the financial sector, Bank of America (BAC 14.34, -0.30) is the weakest performer among the majors after the Department of Justice filed a pair of lawsuits alleging the bank has engaged in investor fraud when selling $850 million in residential mortgage-backed securities.

Elsewhere, the industrial space has been pressured by transportation companies. The Dow Jones Transportation Average trades down 0.7% and index component CH Robinson (CHRW 56.04, -3.54) has tumbled 5.9% after missing on earnings and revenue. Peer YRC Worldwide (YRCW 24.58, -4.00) is also enduring a rough session after it too reported disappointing results.

Also of note, technology and discretionary shares have suffered from broad weakness. In the discretionary space, Dow component Walt Disney (DIS 65.92, -1.13) is lower by 1.7% despite beating earnings expectations on in-line revenue after the company indicated it would incur a fourth quarter loss due to the poor performance of The Lone Ranger.

The weekly MBA Mortgage Index ticked up 0.2% to follow seven consecutive contractionary readings, including last week's decline of 3.7%.

Today's economic data will be topped off with the 15:00 ET release of the June consumer credit report.DJ30 -53.88 NASDAQ -17.33 SP500 -6.73 NASDAQ Adv/Vol/Dec 829/903.7 mln/1604 NYSE Adv/Vol/Dec 843/275.8 mln/2092

12:25 pm : The key indices continue to troll near their lows and every recovery effort since the first-hour slide has lacked enough conviction to erase a notable portion of the losses.

Countercyclical sectors have shown some movement, but currently, only the utilities space (+0.5%) hovers in positive territory. Health care (-0.2%) and telecom services (-0.1%) have been able to outperform the broader market, but they remain in the red. The final defensively-oriented group, consumer staples (-0.5%) trades in line with the S&P.

If the broader market is able to stage an afternoon comeback, the recovery is likely to depend somewhat on the performance of financials, industrials, technology, and discretionary shares. The four heavily-weighted sectors are all down between 0.5% and 1.0%.DJ30 -71.07 NASDAQ -24.90 SP500 -9.35 NASDAQ Adv/Vol/Dec 748/825.6 mln/1678 NYSE Adv/Vol/Dec 787/253.1 mln/2161

12:00 pm : Quiet action continues with the key indices just off their lows. Since the first-hour slide to its worst level of the day, the S&P 500 has been trapped inside of a three-point range.

Including today's 0.6% loss, the S&P is down 1.3% for the week. However, even with that loss, the benchmark index holds a solid gain of 5.1% for the third quarter following a sharp rally throughout July.

So far this quarter, the health care sector has displayed the most strength, gaining 6.9%. Meanwhile, other countercyclical groups have underperformed and the telecom services space has added just 0.2% since the start of July. Today, the telecom sector trades flat while health care sheds 0.2%.DJ30 -79.92 NASDAQ -26.70 SP500 -10.20 NASDAQ Adv/Vol/Dec 735/750.5 mln/1658 NYSE Adv/Vol/Dec 785/232.2 mln/2128

11:30 am : Little change has taken place over the past 30 minutes as the key indices remain near their worst levels of the day. Although the broader market hasn't shown much change, a handful of sectors have climbed off their lows. Telecom services (+0.2%) and utilities (+0.04%) are the top performing defensively-oriented sectors after climbing to their highs.

With regard to cyclical groups, only the materials space (+0.1%) has been able to climb out of the red while the remaining five growth-oriented sectors remain near their lows. The financial sector is the weakest performer of the day (-1.1%) and Bank of America (BAC 14.28, -0.36) leads to the downside with a loss of 2.5% after the Department of Justice filed a pair of lawsuits alleging the bank has engaged in investor fraud when selling $850 million in residential mortgage-backed securities.DJ30 -82.63 NASDAQ -26.04 SP500 -10.37 NASDAQ Adv/Vol/Dec 707/655.9 mln/1659 NYSE Adv/Vol/Dec 745/203.7 mln/2150

11:00 am : The major averages continue to languish near their lows with the S&P 500 down 0.6%. All ten sectors remain in negative territory, but countercyclical groups have been able to outperform their cyclical counterparts. Telecom services and utilities are both down near 0.2% while health care and consumer staples hold respective losses of 0.4% and 0.5%.

While three defensively-oriented sectors have shown some relative strength, the broader market remains pressured by financials, technology, and discretionary shares.

In the discretionary sector, home builders are enduring their third day of weakness as the iShares Dow Jones US Home Construction ETF (ITB 21.49, -0.41) trades down 1.9%. Another large discretionary component, and Dow member, Walt Disney (DIS 65.22, -1.83) is lower by 2.7% despite beating earnings expectations on in-line revenue after the company indicated it would incur a fourth quarter loss due to the poor performance of The Lone Ranger.DJ30 -71.60 NASDAQ -23.83 SP500 -9.59 NASDAQ Adv/Vol/Dec 707/553.1 mln/1629 NYSE Adv/Vol/Dec 720/173.7 mln/2138

10:35 am : Crude oil sold off earlier this morning and extended losses when floor trading opened, causing crude oil to drop to a new LoD of $104.65/barrel. In current action, Sept crude oil is now -0.2% at $105.05/barrel.

Natural gas futures have been sliding lower all morning and just hit a LoD of $3.24/MMBtu. The Sept contract is now 2.1% at $3.25/MMBtu.

Precious metals are mixed this morning as silver futures have been in the red all session, while gold futures have moved back into positive territory for the second time in the day. Sept gold is now +0.1% at $1283.80/oz, while Sept silver is -0.4% at $19.44/oz.DJ30 -83.98 NASDAQ -28.77 SP500 -11.59 NASDAQ Adv/Vol/Dec 614/439.4 mln/1678 NYSE Adv/Vol/Dec 608/141 mln/2234

10:05 am : The S&P 500 has slipped to fresh lows as the outperformance of energy (-0.3%), health care (-0.3%), and materials (-0.2%) sectors was not enough to outweigh continued weakness in financials, industrials, staples, and discretionary shares. The four sectors are all down between 0.6% and 1.2% with the financial sector leading to the downside. Bank of America (BAC 14.38, -0.27) is lower by 1.8% after the Department of Justice filed a pair of lawsuits alleging the bank has engaged in investor fraud when selling $850 million in residential mortgage-backed securities.

The continued weakness in equities has coincided with selling of the dollar/yen pair. Similar to the S&P, dollar/yen hovers near its session lows at 96.70.DJ30 -93.43 NASDAQ -22.20 SP500 -10.69 NASDAQ Adv/Vol/Dec 639/265.2 mln/1567 NYSE Adv/Vol/Dec 585/97.2 mln/2192

09:45 am : The major averages began the session in the red amid broad losses. Similar to yesterday, cyclical groups have shown the most weakness with financials and discretionary shares both lower by 0.7%. Meanwhile, defensively-oriented health care, utilities, and telecom services display slim losses of no more than 0.1%.

Elsewhere, the industrial sector trades in-line with the S&P 500, but transportation-related names are broadly lower. The Dow Jones Transportation Average holds a loss of 1.1% as all 20 components trade in the red. CH Robinson (CHRW 55.80, -3.78) sports a loss of 6.3% after missing on earnings and revenue. Similarly, peer YRC Worldwide (YRCW 22.95, -5.63) has tumbled 19.5% following its disappointing results.DJ30 -57.99 NASDAQ -7.11 SP500 -5.86 NASDAQ Adv/Vol/Dec 739/141.9 mln/1363 NYSE Adv/Vol/Dec 699/64.1 mln/2003

09:14 am : [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -4.30. Similar to yesterday (and Monday), today's session is set to begin in the red as the S&P 500 futures trade with a loss of 0.4% following overnight weakness in Asia where Japan's Nikkei plunged 4.0% as the yen continued to strengthen. Dollar/yen reached an overnight low of 96.78 before rebounding somewhat into the start of the European session. However, the pair ran into resistance just above 97.30, and has headed lower since. Currently, dollar/yen hovers near 96.85.

In the U.S., pre-market focus has been mostly on quarterly results. Shares of Dow-component Walt Disney (DIS 65.65, -1.40) trade lower by 2.1% despite beating earnings expectations on in-line revenue after the company indicated it would incur a fourth quarter loss due to the poor performance of The Lone Ranger.

Elsewhere, Dow Jones Transportation Average component CH Robinson (CHRW 56.50, -3.08) is lower by 5.2% after missing on earnings and revenue. Following the disappointing report, Wells Fargo downgraded the stock to 'Underperform' from 'Market Perform.' Peer YRC Worldwide (YRCW 24.26, -4.32) has tumbled 15.1% after it too reported disappointing earnings and revenue.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -2.00. The S&P 500 futures trade lower by 0.3%.

Markets across Asia were lower with Japan's Nikkei plunging 4.0% as the yen strengthened to better than 97.00 per dollar. Australia, Hong Kong, South Korea, and Taiwan all surrendered at least 1.5% with only Singapore's Straits Times (+0.2%) seeing a gain. Elsewhere, traders continue to track India's Sensex, which ended lower for the ninth time in eleven sessions, as the rupee hovers near 61.00 per dollar, just off a record low. Bourses in Indonesia and Malaysia were shuttered for Eid al-Fitr. Data from the region saw Taiwan's trade surplus narrow to TWD94.0 billion (TWD78.0 billion expected, TWD94.6 billion previous) and Malaysia's industrial production report advance 0.1% MoM (0.9% MoM expected).

Japan's Nikkei closed lower by 4.0% as the strong yen weighed on shares. Exporters were hit hard as Fanuc and Isuzu Motors shed more than 4.0% and 7.0% respectively. Meanwhile, heavyweight Fast Retailing lost more than 6.0%.
In Hong Kong, the Hang Seng lost 1.5% as financials weighed. Bank of China and China Construction Bank gave up 2.2% and 2.1% respectively. Elsewhere, property developers outperformed as Poly Real Estate climbed 2.3%.
China's Shanghai Composite settled lower by 0.7% as today's weakness halted a modest two-day advance. China Vanke outperformed with a 0.5% gain following its earnings beat.

Major European indices trade in mixed fashion following the release of just two notable economic data points. Germany's industrial production jumped 2.4% month-over-month (0.3% expected, -0.8% prior) and France reported a trade deficit of EUR4.40 billion (-EUR5.00 billion expected, -EUR5.70 billion prior). Also of note, the Bank of England has released its latest quarterly inflation report, which was coupled with the central bank's first forward guidance statement. The forward guidance called for low interest rates to remain in place until the unemployment rate declines to 7.0%. Currently, the rate stands at 7.8%. In addition, the BoE has raised its 2013 GDP growth forecast to 1.5% from 1.2%.

Great Britain's FTSE is lower by 0.9% with TUI Travel leading to the downside with a loss of 4.9% after the company said unrest in Northern Africa has had a negative impact on some bookings. Miners are also among the laggards with Randgold Resources and Rio Tinto down 2.6% and 1.5%, respectively.
In Germany, the DAX trades down 0.4%. Consumer name Beiersdorf leads to the downside with a loss of 2.6% even after reporting better-than-expected quarterly results. On the upside, chemical producer K+S is higher by 2.7%.
France's CAC is higher by 0.2% as utilities and financials outperform. GDF Suez and Veolia Environnement lead the index with respective gains of 3.1% and 3.7%. In addition, Credit Agricole and Societe Generale are both up near 2.5%.
On the periphery, Italy's MIB is higher by 1.0% and Spain's IBEX sports a gain of 0.2% as bank shares contribute to strength in both markets.

08:25 am : [BRIEFING.COM] S&P futures vs fair value: -3.80. Nasdaq futures vs fair value: -5.00. For the third day in a row, S&P 500 futures trade with modest losses ahead of the cash open. Today's weakness follows downbeat action in Asia where the Nikkei lost 4.0% as the yen continued to strengthen, pressuring USDJPY to an overnight low of 96.78. Currently, the pair trades near 97.10.

Domestically, today's session will take place without any market-moving data. The weekly MBA Mortgage Index ticked up 0.2% to follow seven consecutive contractionary readings, including last week's slide of 3.7%. Separately, the Federal Reserve will release the June consumer credit report at 15:00 ET.

In notable earnings movers, Dow Jones Transportation Average component CH Robinson (CHRW 56.01, -3.57) is lower by 6.0% after missing on earnings and revenue. Following the disappointing report, Wells Fargo downgraded the stock to 'Underperform' from 'Market Perform.'

07:58 am : [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -5.80. U.S. equity futures are near their lows following cautious overnight action. The S&P 500 futures are off by 0.3%.

Looking at overnight developments:

Asian markets ended in the red. Japan's Nikkei fell 4.0% as the yen continued to strengthen against the dollar, sending USDJPY below 97.50. Elsewhere, Hong Kong's Hang Seng lost 1.5%, and China's Shanghai Composite shed 0.7%.
In regional economic data:
Australian home loans rose 2.7% month-over-month (2.0% expected, 1.7% prior) and the AIG Construction Index jumped to 44.1 from 39.5.
New Zealand's unemployment rate rose to 6.4% from 6.2% (6.3% forecast) while employment change came in at 0.4%, as expected. Lastly, the Labor Cost Index ticked up 0.4% (0.5% expected, 0.4% prior).
Looking at news:
Japan's Prime Minister Shinzo Abe has ordered the industry minister to step up the agency's response to the persisting leak of radioactive water from the Fukushima nuclear plant. The government said about 300 tons of contaminated water gets into the ocean on a daily basis.

Major European indices trade in mixed fashion. France's CAC -0.1%, Germany's DAX -0.5%, and Great Britain's FTSE -0.9%. On the periphery, Italy's MIB +0.8% and Spain's IBEX +0.1%.
Regional economic data was limited:
Germany's industrial production jumped 2.4% month-over-month (0.3% expected, -0.8% prior).
France reported a trade deficit of EUR4.40 billion (-EUR5.00 billion expected, -EUR5.70 billion prior).
In news:
The Bank of England has released its latest quarterly inflation report, which was coupled with the central bank's first forward guidance statement. The forward guidance called for low interest rates to remain in place until the British unemployment rate declines to 7.0%. Currently, the rate stands at 7.8%. In addition, the BoE has raised its 2013 GDP growth forecast to 1.5% from 1.2%.

In U.S. corporate news:

Bank of America (BAC 14.45, -0.19) is -1.3% after the Department of Justice filed a pair of lawsuits alleging the bank has engaged in investor fraud when selling $850 million in residential mortgage-backed securities.
CH Robinson (CHRW 55.69, -3.89) is -6.5% after missing on earnings and revenue. Following the disappointing report, Wells Fargo downgraded the stock to 'Underperform' from 'Market Perform.'
EOG Resources (EOG 160.95, +7.73) is +5.1% after beating on earnings and revenue.
Time Warner (TWX 65.18, +1.10) is +1.7% after beating on earnings and revenue.
Walt Disney (DIS 65.90, -1.15) is -1.7% following its earnings beat on below-consensus revenue.
Zillow (Z 83.90, -6.81) is -7.5% after reporting a top-line beat on worse-than-expected earnings.

The weekly MBA Mortgage Index ticked up 0.2% to follow seven consecutive contractionary readings, including last week's decline of 3.7%.

June consumer credit will be released at 15:00 ET.

The U.S. Treasury will auction $24 billion in 10-yr notes.

07:09 am : [BRIEFING.COM] S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -6.50.

07:09 am : Nikkei...13824.94...-576.10...-4.00%. Hang Seng...21588.84...-334.90...-1.50%.

07:09 am : FTSE...6553.55...-50.70...-0.80%. DAX...8265.72...-34.00...-0.40%.

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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