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 Post subject: August 8th Thursday Trade Results - Profit $3690.00
PostPosted: Thu Aug 08, 2013 10:14 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)
http://twitter.com/wrbtrader (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 @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2600.00 dollars or +52.00 points, Light Crude Oil CL ($CL_F) futures @ $40.00 dollars or +0.40 points, Gold GC ($GC_F) futures @ $1050.00 dollars or +10.50 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $3690.00 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=1574

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 Three-Day Losing Streak

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

NEW YORK (CNNMoney)
U.S. stocks ended slightly higher Thursday, breaking a three-day losing streak.

The Dow Jones industrial average, the S&P 500 and the Nasdaq all rose modestly, as strong corporate earnings and a favorable jobless claims report lifted sentiment.

The Labor Department said jobless claims rose by 5,000 last week to 333,000, slightly lower than expected.

U.S. stocks have been under pressure this week, partly on fears of the U.S. Federal Reserve cutting back on its massive quantitative easing campaign, which has flooded the markets with liquidity.

* The 'Septaper' is coming. Deal!

Even with the modest declines this week, stocks are still up 18% to 23% this year.

"August historically has a slight bearish bias to it and volume is very low," said Ryan Detrick, an analyst at Schaeffer's Investment Research. "So far that is exactly what we've seen."

Groupon, Tesla lead the charge: Investors cheered strong earnings from Groupon and Tesla.

Groupon (GRPN) surged after the daily deals site posted strong sales and announced a $300 million share-buyback program. The rally bumped Groupon's market valuation to $7 billion, well above the benchmark $6 billion figure that Google (GOOG, Fortune 500) reportedly offered for the company in 2011.

Tesla (TSLA) shares rallied after the electric-car maker reported a surprise quarterly profit. Tesla's Model S also got the top crash test rating from the government and the stock was generating plenty of buzz among traders on StockTwits.

IcallYourPutandRaise: $TSLA got in at 116 a month ago, just ridin the wavess hangin ten brahssss Bullish

But Solar City (SCTY), which is chaired by Tesla CEO Elon Musk, reported a wider loss than analysts had expected. The stock tumbled on the news. But one trader still expressed support for all things Elon Musk.

rayinla: $SCTY testing 50dsma and still holding, while $TSLA trending slowly. Will there ever be a space-X IPO? Bullish

Related: Fear & Greed Index still idling in neutral

J.C. Penney (JCP, Fortune 500) was a top gainer in the S&P 500 following reports that the struggling retailer started to search for a new CEO to replace its interim head executive, Mike Ullman.

TechTrader17: $JCP Finally!! The Board get's some sense in their heads!!

Green Mountain Coffee Roasters (GMCR) shares fell following quarterly sales figures that missed expectations.

But the news from Green Mountain was not all bad. It's earnings beat expectations and some investors were hopeful the stock price would rebound.

MistraKnowItAwl: This is beauty. Churning upwards, through the Shorts... / "WorkDayTrader: $GMCR like watching paint dry... Go up!"

T-Mobile (TMUS) topped revenue forecasts and said it had a net addition of 1.1 million customers during the quarter. Apollo Global Management (APO) swung to a quarterly profit and

Priceline.com (PCLN) rose in after-hours trading after the company released earnings that beat expectations. The stock is set to move even closer to $1,000. Shares were trading around $970 after the closing bell. And shares of Priceline competitor Orbitz (OWW) soared more than 35% after it reported solid earnings.

On the international stage, European markets rose, while Asian stocks ended mixed.

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4:10 pm : The S&P 500 settled higher by 0.4% despite enduring a first-hour selloff.

Equities began the session with modest gains after upbeat data from China helped ease some concerns regarding the pace of global growth. The Middle Kingdom reported an increase in exports (+5.1% actual, +3.0% expected) and imports (+10.9% actual, +2.1% forecast) while its trade surplus narrowed to $17.82 billion from $27.10 billion.

Shortly after the start of the session, the S&P notched a high of 1,700.20 before aggressive selling pressured the benchmark index back to its flat line. The slide coincided with notable dollar/yen weakness that sent the pair below 96.00 for the first time since June 19.

The slide in equities and dollar/yen was halted shortly after the first hour of action. Stocks then returned to their highs but the S&P was unable to reclaim the 1,700 level.

The rebound took place as most cyclical sectors outperformed with materials in the lead. The sector advanced 1.5% as the Chinese data underpinned steelmakers and miners. The Market Vectors Steel ETF (SLX 42.29, +1.20) jumped 2.9% and the Market Vectors Gold Miners ETF (GDX 26.00, +2.06) surged 8.6%. On a related note, gold futures rose 2.1% to $1311.80 per troy ounce and copper futures added 2.8% to $3.263 per pound.

Other commodity-related sectors also rallied. Industrials settled higher by 0.4% and Dow component Caterpillar (CAT 83.96, +1.53), which does a good portion of its business in China, climbed 1.9%.

Elsewhere, the energy sector ended with a gain of 0.6% even as crude oil slumped 0.5% to $103.85 per barrel.

Discretionary shares also contributed to the rebound as retailers outperformed. The SPDR S&P Retail ETF (XRT 81.53, +0.75) posted a gain of 0.9% after retailers reported their same store sales for July. L Brands (LTD 60.25, +2.95) added 5.2% after surpassing estimates while Costco (COST 117.39, -1.95) slipped 1.6% after missing expectations.

Although most cyclical sectors registered gains, financials trailed behind the broader market. JPMorgan Chase (JPM 54.83, -0.47) shed 0.9% after the company said it is being investigated by the U.S. Attorney's Office for Eastern District of California over its mortgage-backed securities offerings.

Treasuries were trapped inside of a narrow range and the benchmark 10-yr yield shed two basis points to 2.59%.

In today's economic data, the initial claims level increased from an upwardly revised 328,000 (from 326,000) for the week ending July 27 to 333,000 for the week ending August 3. The Briefing.com consensus expected the initial claims level to increase to 340,000. Even though the claims level increased this week, the headline number is actually a strong positive sign for the labor market.

Throughout July, the initial claims data were distorted by seasonal adjustment problems from the motor vehicle industry. The Department of Labor announced that this week's claims data were unaffected by seasonal biases. That means the initial claims, which were around 350,000 prior to the distortions, actually improved throughout July.

Tomorrow, June wholesale inventories will be reported at 10:00 ET.DJ30 +27.65 NASDAQ +15.12 SP500 +6.57 NASDAQ Adv/Vol/Dec 1494/1.73 bln/1023 NYSE Adv/Vol/Dec 1965/689.4 mln/1035

3:30 pm :

Sep crude oil fell for a fifth consecutive session, dipping below the $103.00 per barrel in morning action. The energy component retreated from its session high of $103.71 per barrel and brushed a session low of $102.22 per barrel. It eventually settled 0.9% lower at $103.40 per barrel.
Sep natural gas slid to a session low of $3.13 per MMBtu following weaker-than-anticipated inventory data that showed a build of 96 bcf when a smaller build of 74-77 bcf was expected. However, natural gas reversed the loss as prices reversed into positive territory. It touched a session high of $3.32 per MMBtu just before settling with a 1.5% gain at $3.30 per MMBtu
Precious metals registered gains as the dollar index fell deeper into negative territory. Furthermore, China reported better-than-expected export and import data while narrowing its trade surplus
Dec gold rose above the $1300 per ounce level after climbing off its session low of $1287.70 per ounce. It touched a session high of $1313.80 per ounce and settled with a 2.0% gain at $1309.90 per ounce
Sep silver rose for the first time in four sessions, touching a session high of $20.30 per ounce. It settled with a solid 3.6% gain at $20.20 per ounce after trading as low as $19.68 per ounce in early morning floor trade

DJ30 +32.03 NASDAQ +16.25 SP500 +7.26 NASDAQ Adv/Vol/Dec 1489/1391.1 mln/1030 NYSE Adv/Vol/Dec 1959/466 mln/1020

3:00 pm : The S&P 500 trades higher by 0.5% as today's session enters its final hour. The benchmark index began the day amid notable dollar weakness versus other major currencies.

Dollar/yen fell below 95.90 before erasing its losses over the course of the session. Currently, the pair is flat near 96.45 after last night's policy meeting saw the Bank of Japan stand pat. The yen could show volatility tonight in reaction to Japan's Tertiary Industry Activity Index.

Also of note, Australian dollar/U.S. dollar is higher by 1.4% at 0.9120 as trade squeezes higher following last night's Chinese trade data. Today's bid has the hard currency higher for a fourth straight session, and has trade nearing a test of .9150 resistance. If bulls are able to retake that level, they will be looking to test the key .9300 area. The Statement from the latest Reserve Bank of Australia meeting will cross the wires tonight. Chinese data includes fixed asset investment, industrial production, CPI, and PPI.DJ30 +38.21 NASDAQ +17.69 SP500 +7.77 NASDAQ Adv/Vol/Dec 1500/1.34 bln/1011 NYSE Adv/Vol/Dec 1985/422.1 mln/984

2:25 pm : Quiet afternoon continues with the S&P 500 holding a modest gain of 0.5%. The benchmark index has spent the past two hours attempting to climb above its opening high of 1,700.20 as some cyclical sectors build on their gains.

The materials space has extended its advance to 1.7% and the discretionary sector is now higher by 0.9% as retailers outperform. The SPDR S&P Retail ETF (XRT 81.78, +1.00) sports a gain of 1.2% after retailers reported their same store sales for July. L Brands (LTD 60.34, +3.05) trades up 5.3% after surpassing estimates while Costco (COST 117.64, -1.70) holds a loss of 1.4% after missing expectations.DJ30 +42.39 NASDAQ +19.84 SP500 +8.08 NASDAQ Adv/Vol/Dec 1483/1.24 bln/1011 NYSE Adv/Vol/Dec 1968/381.7 mln/988

2:00 pm : The S&P 500 continues to hover roughly two points below its best level of the day. Despite the early weakness, the Nasdaq has been able to notch a fresh session high while the Dow and S&P 500 lurk just below their opening highs.

Cyclical sectors have fueled the rebound with the materials space extending its advance to 1.6%. In addition, consumer discretionary, energy, industrial, and technology sectors all trade ahead of the S&P. Meanwhile, the financial sector (+0.3%) underperforms as major banks trade in mixed fashion. JPMorgan Chase (JPM 54.93, -0.37) is lower by 0.7% after the company said it is being investigated by the U.S. Attorney's Office for Eastern District of California over its mortgage-backed securities offerings.DJ30 +52.12 NASDAQ +21.13 SP500 +8.50 NASDAQ Adv/Vol/Dec 1465/1.17 bln/1017 NYSE Adv/Vol/Dec 1971/356.9 mln/986

1:25 pm : The S&P 500 hovers near its best levels of the day, but has yet to overtake its opening high of 1,700.20. Nine of ten sectors trade in positive territory while the telecom services space continues to lag with a loss of 0.9%.

Elsewhere, Treasuries have seen some selling after today's disappointing $16 billion 30-yr bond auction that was concluded at the top of the hour. The auction drew 3.652% and a soft 2.11x bid/cover ratio was the weakest since August 2011. Direct (17.1%) and indirect (40.2%) bidders saw larger than usual takedowns while primary dealers were left with 42.7% of the supply. Yields across the curve are off close to two basis point apiece with the 10-yr near 2.59%.DJ30 +51.57 NASDAQ +18.89 SP500 +7.59 NASDAQ Adv/Vol/Dec 1463/1.09 bln/1002 NYSE Adv/Vol/Dec 1927/325.7 mln/997

1:00 pm : At midday, the S&P 500 trades higher by 0.4%.

The major averages started today's session on an upbeat note after China's trade figures calmed some global growth concerns. The Middle Kingdom reported an increase in exports (+5.1% actual, +3.0% expected) and imports (+10.9% actual, +2.1% forecast) while its trade surplus narrowed to $17.82 billion from $27.10 billion.

Nearly all sectors registered gains at the open, and the S&P 500 climbed to a session high of 1700.20 before encountering swift rejection. The early selling ensued as the yen saw a continuation of its recent strength, pressuring the dollar/yen pair below 96.00 for the first time since June 19.

The S&P and dollar/yen both notched their lows at 10:45 ET before turning higher, with the rebound in equities assisted by the relative strength of most growth-sensitive sectors.

The materials space leads the way with a gain of 1.4% as steelmakers and miners rally in reaction to the Chinese data. The Market Vectors Steel ETF (SLX 42.30, +1.21) is higher by 2.9% and Market Vectors Gold Miners ETF (GDX 25.26, +1.32) holds a solid gain of 5.5%. On a related note, gold futures trade up 1.9% at $1309.70 per troy ounce while copper adds 3.0% to $3.267 per pound.

Industrials have also shown some strength and Dow component Caterpillar (CAT 84.03, +1.60), which does a fair shares of its business in China, trades higher by 1.9%.

Elsewhere, the relative strength of the tech sector has contributed to the outperformance of the Nasdaq as the tech-heavy index adds 0.5%. One of the top-weighted tech components, Microsoft (MSFT 32.98, +0.92), is higher by 2.9% after Evercore upgraded the stock to 'Overweight' from 'Equal Weight.' Meanwhile, Dow member IBM (IBM 188.50, -0.06) is off by 0.1% and today's session low marked the stock's lowest level of the year.

On the earnings front, Tesla (TSLA 157.31, +23.08) has surged 17.1% after beating on earnings and revenue. During the conference call, the company said it is working on a lower-cost electric car and that it expects to be profitable on non-GAAP basis going forward.

In today's economic data, the initial claims level increased from an upwardly revised 328,000 (from 326,000) for the week ending July 27 to 333,000 for the week ending August 3. The Briefing.com consensus expected the initial claims level to increase to 340,000. Even though the claims level increased this week, the headline number is actually a strong positive sign for the labor market.

Throughout July, the initial claims data were distorted by seasonal adjustment problems from the motor vehicle industry. The Department of Labor announced that this week's claims data were unaffected by seasonal biases. That means the initial claims, which were around 350,000 prior to the distortions, actually improved throughout July.DJ30 +48.61 NASDAQ +18.80 SP500 +7.36 NASDAQ Adv/Vol/Dec 1458/1.02 bln/1003 NYSE Adv/Vol/Dec 1942/301.7 mln/973

12:30 pm : Recent action saw the S&P 500 continue its climb off the early lows. The gains in equities have been mirrored by the advance of the dollar/yen pair, which has regained the 96.00 level.

The materials sector (+1.3%) remains in the lead as most components register gains. Fertilizer names are rebounding broadly from their recent weakness and steelmakers hold solid gains as well. The Market Vectors Steel ETF (SLX 42.29, +1.20) is higher by 2.9%.

As a result of the recent advance, only telecom services (-0.8%) and health care (-0.1%) remain in the red.DJ30 +23.88 NASDAQ +19.29 SP500 +5.76 NASDAQ Adv/Vol/Dec 1486/939.6 mln/966 NYSE Adv/Vol/Dec 1909/276.2 mln/990

11:55 am : The S&P 500 hovers just above its flat line while the tech-heavy Nasdaq outperforms with a gain of 0.4%.

Similarly, the technology sector has returned to its highs after displaying earlier weakness. Top sector components trade in mixed fashion as Microsoft (MSFT 32.72, +0.65) adds 2.0% after receiving an upgrade from Evercore while Dow component IBM (IBM 188.46, -0.10) displays little change. IBM has endured some recent weakness and today's session low marked the stock's lowest level of the year.

On the earnings front, Tesla (TSLA 155.56, +21.33) has surged 16.0% after beating on earnings and revenue. During the conference call, the company said it is working on a lower-cost electric car and that it expects to be profitable on non-GAAP basis going forward.DJ30 -14.44 NASDAQ +14.39 SP500 +2.32 NASDAQ Adv/Vol/Dec 1423/756.9 mln/987 NYSE Adv/Vol/Dec 1738/243.2 mln/1153

11:30 am : The S&P 500 remains anchored to its flat line after surrendering its opening gains. Materials (+1.0%) and industrials (+0.2%) continue to be buoyed by upbeat trade data from China while remaining sectors trade in mixed fashion. Notably, financials (-0.3%) were among the early outperformers, but the sector has slipped into the red.

Yesterday, countercyclical sectors outperformed the broader market, but all four defensively-oriented groups are among today's laggards. The telecom services sector (-1.3%) is the weakest performer while consumer staples, health care, and utilities hold slim losses of no more than 0.2% each.DJ30 -27.85 NASDAQ +12.11 SP500 +0.92 NASDAQ Adv/Vol/Dec 1380/672.3 mln/997 NYSE Adv/Vol/Dec 1690/216.5 mln/1190

11:00 am : The stock market began today's session with modest gains after China reported better-than-expected exports (+5.1% actual, +3.0% expected) and imports (+10.9% actual, +2.1% forecast) while seeing its trade surplus narrow to $17.82 billion from $27.10 billion. Nearly all sectors displayed strength out of the gate and the S&P 500 climbed to a session high of 1700.20 before being rejected swiftly. Currently, the S&P 500 is flat while the Dow trades lower by 38 points or -0.3%.

Growth-sensitive materials (+0.9%), and industrials (+0.2%) provided the early leadership, and they continue to outperform at this juncture. Meanwhile, financials (-0.3%), health care (-0.2%), and technology (-0.1%) have weighed on the broader market.

Equities fell under pressure as dollar/yen resumed its recent downtrend, sliding below 96.00. Yen strength has accompanied this week's losses in the S&P and today, the pair has been in a steady decline since the start of the U.S. session with price action mirroring that of the S&P. Overall, the recent yen behavior has been reminiscent of the late-May/early-July yen strength associated with unwinding of carry trades. At that time, U.S. equities experienced significant weakness.

The early weakness in the S&P has caused the CBOE Volatility Index (VIX 13.05, +0.07) to climb off its lows as some participants seek a measure of downside protection.

In perspective, despite registering losses in each of the past three sessions, the S&P 500 remains slightly higher (+0.3%) this month and is up 5.2% on the quarter.DJ30 -36.74 NASDAQ +3.92 SP500 -0.30 NASDAQ Adv/Vol/Dec 1316/558.1 mln/1026 NYSE Adv/Vol/Dec 1660/180.4 mln/1180

10:35 am : Commodities are mixed today with crude oil sitting lower and near its LoD, while natural gas is also in the red just ahead of its inventory data.

Crude oil has been sliding lower all session, falling from the $105/barrel area to below $103/barrel. Sept crude oil is currently -1.5% at $102.78/barerl. Natural gas was in the red this morning and extend losses by dropping to a new LoD following the EIA's weekly inventory data. Sept nat gas is now -1.7% at $3.19/MMBtu.

Copper is the big performer today, following strong overnight gains. Sept copper is now +3.2% at $3.27/lb.

Precious metals are also higher this morning, led by silver, which is over 3% higher. In current action, Dec gold is +1.4% at $1303.70/oz, while Sept silver is +3.0% at $20.10/ozDJ30 -24.65 NASDAQ -0.68 SP500 -0.18 NASDAQ Adv/Vol/Dec 1361/431.6 mln/960 NYSE Adv/Vol/Dec 1787/143 mln/1041

10:00 am : After tagging the 1,700 level just after the opening bell, the S&P 500 has surrendered about four points. The index remains higher by 0.3% as the relative strength of cyclical sectors outweighs the underperformance of a handful of countercyclical groups.

The consumer staples sector is higher by 0.1% and health care trades little changed. The remaining two defensively-oriented sectors, telecom services and utilities, are mixed. The telecom space is lower by 0.7% and utilities (+0.3%) trade in-line with the S&P.

Treasuries are little changed so far with the benchmark 10-yr yield lower by one basis point at 2.59%.DJ30 +37.13 NASDAQ .75 SP500 +5.59 NASDAQ Adv/Vol/Dec 1489/242.8 mln/751 NYSE Adv/Vol/Dec 1975/91.9 mln/755

09:45 am : The major averages began the session with gains that have helped the S&P 500 erase all of yesterday's losses as well as some of Tuesday's decline. Cyclical sectors have shown early strength with materials and industrials providing leadership following last night's trade data from China.

The Middle Kingdom's exports rose 5.1% year-over-year (3.0% expected) while imports climbed 10.9% (2.1% forecast). However, the overall trade surplus narrowed to $17.82 billion from $27.10 billion ($27.20 billion expected).

The early leaders, materials and industrials, hold respective gains of 1.2% and 0.7% while most other cyclical sectors trade ahead of the broader market as well. The technology sector is the lone growth-sensitive underperformer, trading higher by 0.3%.DJ30 +54.45 NASDAQ +12.71 SP500 +6.80 NASDAQ Adv/Vol/Dec 1594/160.9 mln/597 NYSE Adv/Vol/Dec 2099/68.4 mln/588

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +7.70. Nasdaq futures vs fair value: +16.00. The S&P 500 futures hover near their highs and the major averages are poised to erase most of yesterday's losses at the open. The upbeat sentiment comes after China's trade figures indicated an improvement in exports (+5.1% actual, +3.0% expected) and imports (+10.9% actual, +2.1% expected) while the overall trade surplus narrowed to $17.82 billion from $27.10 billion ($27.20 billion expected).

The Chinese data overshadowed continued weakness in Japan where the Nikkei fell 1.6% as dollar/yen dropped to the 96.25 area, where it currently sits.

China's trade figures contributed to notable strength in copper futures, which trade higher by 3.2% at $3.273 per pound. This should provide a boost to miners and other producers of basic materials. Freeport-McMoRan (FCX 30.22, +0.79) and Newmont Mining (NEM 27.15, +0.67) are both up near 2.5% in pre-market action.

In other pre-market movers of note, momentum darling Tesla Motors (TSLA 152.74, +18.33) has charged higher by 13.7% after beating on earnings and revenue. During the conference call, the company said it is working on a lower-cost electric car and that it expects to be profitable on non-GAAP basis going forward.

The U.S. Treasury will auction $16 billion in 30-yr bonds.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +15.70. The S&P 500 futures trade higher by 0.4%.

The major Asian bourses endured a mixed session, seeing somewhat of a boost on signs of a pickup in China. The Middle Kingdom's trade data showed imports jumped 10.9% year-over-year while exports rose 5.1%. Both numbers topped estimates; however, the country's trade surplus narrowed to $17.1 billion ($27.2 billion expected). Despite the encouraging data, China's Shanghai Composite (-0.1%) ended little changed, almost as if Chinese investors were suspicious of the data. Australia's ASX (+1.1%) saw solid gains despite the country shedding 10.2K jobs (+6.2K expected) thanks to the surge in Chinese imports (Australia's largest trade partner). Meanwhile, Japan's Nikkei (-1.6%) was under pressure after the Bank of Japan left monetary policy unchanged. Later, BoJ Governor Haruhiko Kuroda made headlines by suggesting a delay in the planned national sales tax increase would pose risks to the recovery, and may lead to an increase in government bond yields. Markets in Indonesia, Malaysia, and Singapore were closed for holiday.

In Japan, the Nikkei closed lower by 1.6% as trade slipped below both the 50- and 100-day moving averages. Heavyweights fast Retailing and Softbank both lost close to 2.5% while exporters Kyocera and Fanuc fell 2.4% and 1.0% respectively. Outperforming were shares of real estate developers, thanks to better than expected results from Mitsui Fudosan. The stock gained 1.5%.
Hong Kong's Hang Seng added 0.3% as shares saw their first gain in four days. China Mobile outperformed with shares adding 1.1%.
In China, the Shanghai Composite shed 0.1% amid a rather uneventful trade. Financials lagged as Industrial Bank gave up 0.6%.

Major European indices hover near their highs following the release of just two notable economic data points. Germany's trade surplus came in at EUR15.70 billion (EUR14.90 billion expected, EUR14.60 billion prior) and Spain's industrial production declined 1.9% year-over-year (-1.2% expected, -1.5% prior). In addition, the European Central Bank's Monthly Report commented on the current situation, saying recent economic data and confidence measures serve as a tentative confirmation of improvement and stabilization from low levels.

Great Britain's FTSE trades higher by 0.3% as miners lead. Anglo American, Glencore Xstrata, and Rio Tinto are all up between 0.7% and 3.2%. On the downside, investment management company Schroders is the weakest performer with a loss of 4.6% after reporting disappointing results.
In France, the CAC trades up 0.5% as financials display strength. Credit Agricole and Societe Generale are both up near 2.3%. Consumer names are among the laggards with Danone and Pernod Ricard down 0.6% apiece.
Germany's DAX holds a gain of 0.7% with Commerzbank leading the way. The bank has spiked 13.3% after beating its earnings estimates. Adidas is the weakest performer among the five decliners as the apparel producer trades lower by 1.5%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +15.70. The S&P 500 futures continue to trade higher by 0.4%.

The latest weekly initial jobless claims count totaled 333,000, which was lower than the 340,000 that had been expected by the Briefing.com consensus. Today's tally was above the revised prior week count of 328,000. As for continuing claims, they rose to 3.018 million from 2.951 million.

07:58 am : [BRIEFING.COM] S&P futures vs fair value: +7.40. Nasdaq futures vs fair value: +16.00. U.S. equity futures hover near their highs with the S&P 500 futures up 0.4%. At present levels, the major averages are poised to erase yesterday's losses at the open.

Looking at overnight developments:

Asian markets ended mixed with Japan's Nikkei underperforming as the yen continued to strengthen, pressuring dollar/yen into the 96.25 area. Nikkei -1.6%, China's Shanghai Composite -0.1%, and Hong Kong's Hang Seng +0.3%.
In regional economic data:
China's trade surplus came in at $17.82 billion ($27.20 billion expected, $27.10 billion prior) as exports rose 5.1% year-over-year (3.0% expected, -3.1% prior) and imports climbed 10.9% year-over-year (2.1% forecast, -0.7% previous).
The Bank of Japan kept its interest rate unchanged at 0-0.1%. Separately, the country reported a current account surplus of JPY340 billion (JPY390 billion expected, JPY540 billion prior) while the adjusted current account indicated a surplus of JPY650 billion (JPY730 billion expected, JPY620 billion prior). In addition, bank lending rose 2.0% year-over-year (1.9% expected, 1.9% previous) and the Economy Watchers Current Index slipped to 52.3 from 53.0 (53.5 consensus).
Australia's employment change came in at -10,200 (+5,000 expected, +9,300 previous) while the unemployment rate held steady at 5.7% (5.8% forecast).
Looking at news:
Following its latest policy meeting, the Bank of Japan kept its economic assessment unchanged after seven consecutive upgrades.
Reports indicate North Korea will resume joint operations with South Korea at the Kaesong Industrial Complex.

Major European indices hover near their highs. Great Britain's FTSE +0.4%, France's CAC +0.6%, and Germany's DAX +0.9%.
Economic data was limited:
Germany's trade surplus came in at EUR15.70 billion (EUR14.90 billion expected, EUR14.60 billion prior).
Spain's industrial production declined 1.9% year-over-year (-1.2% expected, -1.5% prior).
In news:
The European Central Bank's Monthly Report commented on the current situation, saying recent economic data and confidence measures serve as a tentative confirmation of improvement and stabilization from low levels.

In U.S. corporate news:

Green Mountain Coffee Roasters (GMCR 75.60, -3.66) is -4.6% after reporting a bottom-line beat on below-consensus revenue.
JPMorgan Chase (JPM 55.19, -0.11) is -0.2% after the company said it is being investigated by the U.S. Attorney's Office for Eastern District of California over its mortgage-backed securities offerings.
Prudential (PRU 81.60, +2.23) is +2.8% after reporting an earnings beat on below-consensus revenue.
Transocean (RIG 49.30, +0.82) is +1.7% following its in-line quarterly report.
Tesla Motors (TSLA 154.60, +20.37) is +15.2% after beating on earnings and revenue. In addition, the company said it expects to be profitable on non-GAAP basis going forward.

Weekly initial claims will be reported at 8:30 ET.

The U.S. Treasury will auction $16 billion in 30-yr bonds.

07:08 am : [BRIEFING.COM] S&P futures vs fair value: +7.20. Nasdaq futures vs fair value: +15.00.

07:08 am : Nikkei...13605.56...-219.40...-1.60%. Hang Seng...21655.88...+67.00...+0.30%.

07:08 am : FTSE...6543.55...+32.30...+0.50%. DAX...8315.61...+55.10...+0.70%.

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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