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 Post subject: August 9th Friday Trade Results - Profit $1180.00
PostPosted: Fri Aug 09, 2013 11:15 pm 
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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 @ $430.00 dollars or +4.30 points, Emini ES ($ES_F) futures @ $750.00 dollars or +15.00 points, Light Crude Oil CL ($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 @ $1180.00 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=1575

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 Finish The Week Lower

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

NEW YORK (CNNMoney)
The bull must be on summer vacation. Stocks ended the week with losses.

The Dow Jones Industrial Average, the S&P 500, and the Nasdaq all fell Friday. The Dow dropped more than 100 points at one point in mid-day trading before recovering a bit. But there did not appear to be a clear reason for the sell-off.

Stock market trading is typically muted in August.

But even with the major indexes all shedding about 1% this week, the market hasn't lost all that much momentum. Stocks have still gained between 18% and 23% in 2013.

Can Priceline top $1,000? Even though the broader market wasn't doing much, there were several high-profile stocks on the move. Priceline.com (PCLN) shares moved closer to $1,000. The online travel company posted quarterly earnings Thursday that beat expectations.

Traders on StockTwits see room for quick profits in the online travel company.

Zubair84: $PCLN Thanks to Mr.Shatner for making me one day closer to retirement..i should retire after this sick run lol

howardlindzon: Standing Ovation for Priceline and it's long term shareholders...outstanding - unsung internet hero $PCLN http://stks.co/rO3C"

J.C. Penney (JCP, Fortune 500) shares fell more than 7%, one day after gaining 7%. Activist investor Bill Ackman wants a new CEO, and in a letter, stated how worried he is about the health of the company.

Traders are terrified about the retailer's prospects.

tuberdr11: $JCP YOU MUST READ THIS. This company is in serious, serious trouble by the sound of this letter. Ive never seen this http://stks.co/deBP

Harvey_s: $JCP The bottom callers always get screwed because things can actually go lower than you may realize , faster than you can imagine

Shares of BlackBerry (BBRY) surged, after Reuters reported that the Canadian smartphone company is looking for a buyer to take it private.

Still not everyone was sure that the BlackBerry rally had staying power.

flowerpoweredQE2infinity: $BBRY while i agree their assets are worth $15/share, the fact that they mentioned they're open 2 a buyout means it won't happen

dragenn: $BBRY This will sell off over the next couple of days. Sell side pressure hasnt stopped. I doubt It'll hold high into next week.

On the international stage, both European markets and Asian stocks moved slightly higher.

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4:10 pm : The major averages ended a down week on a lower note as the S&P 500 shed 0.4% to widen this week's loss to 1.1%. Shortly after opening in the red, the benchmark index briefly turned positive, but just like yesterday, it was unable to make a sustained move above the 1,700 level. The S&P notched its low as the European session ended before erasing about half of its losses over the course of the afternoon.

Nine of ten sectors ended in the red while materials outperformed with a gain of 0.6% after China's industrial production report surpassed estimates (9.7% actual, 9.0% forecast). Steelmakers and miners rallied broadly, but Molycorp (MCP 6.69, -0.72) headed in the opposite direction after missing on earnings and revenue. The materials sector was the only group that registered a gain this week, rising 0.8%.

Other commodity-linked sectors did not fare as well. Energy underperformed with a loss of 0.5% even as crude oil advanced 2.5% to $106.02 per barrel. Meanwhile, the industrial sector (-0.3%) ended slightly ahead of the S&P, but transportation companies underperformed as the Dow Jones Transportation Average shed 0.6%.

Meanwhile, the remaining cyclical groups ended in mixed fashion. Technology (-0.4%) underperformed while financials (-0.3%) and discretionary shares (-0.3%) settled ahead of the broader market. The discretionary sector received some support from Priceline.com (PCLN 969.89, +36.14) after the company beat on earnings and revenue.

With regard to countercyclical groups, health care (-0.4%) and consumer staples (-0.4%) did not deviate from the S&P while rate sensitive utilities (-0.7%) and telecom services (-1.0%) lagged.

Treasuries were very quiet today and the benchmark 10-yr yield slipped one basis point to 2.58% after spending the day in a three point range.

Light volume persisted throughout the week and today was no different as less than 650 million shares changed hands on the floor of the New York Stock Exchange.

Today's economic data was limited to wholesale inventories, which fell 0.2% in June after declining a downwardly revised 0.6% (from -0.5%) in May. That was the third consecutive monthly decline and the fourth monthly drop so far in 2013. The Briefing.com consensus expected wholesale inventories to increase 0.4%.

The Bureau of Economic Analysis assumed that wholesale inventories were flat in June in the advance estimate for second quarter GDP growth. The downward surprise will add a minor negative contribution to the revisions in the second estimate.

On Monday, the July Treasury budget will be released at 14:00 ET.

Week in Review: S&P 500 Finds Resistance

On Monday, the S&P 500 shed 0.2% as eight of ten sectors settled 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. 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. Although the 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."

Tuesday's session saw the S&P settle lower by 0.6%. Stocks spent the first 90 minutes of the session in a steady decline as cyclical sectors pressured the index below the 1,700 level with financials, materials, and industrials leading to the downside. All top-weighted banks ended in the red with Citigroup (C 51.32 -0.46) posting the largest loss among the majors. Meanwhile, the broader sector slid 0.9%.

On Wednesday, the S&P shed 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.

Thursday's session began 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.DJ30 -72.81 NASDAQ -9.02 SP500 -6.06 NASDAQ Adv/Vol/Dec 999/1.50 bln/1513 NYSE Adv/Vol/Dec 1454/637.2 mln/1534

3:35 pm : Crude oil futures continues to extend gains in today's session, hitting its high for the day of $106.24/barrel during the afternoon session. After hitting that level, crude remained near $106 for the rest of the session.

Natural gas futures sold off earlier this morning, falling as low as $3.22/MMBtu. Sept nat gas closed $0.07 lower at $3.23/MMBtu.

Precious metals rallied late in the day, ending the session higher. Dec gold finished today $2.10 higher at $1312.00/oz, while Sept silver rose $0.21 to $20.41/oz. Sept copper gained $0.04 to $3.31/lb.DJ30 -73.04 NASDAQ -7.31 SP500 -5.60 NASDAQ Adv/Vol/Dec 1128/1283.8 mln/1364 NYSE Adv/Vol/Dec 1490/448 mln/1478

3:00 pm : The S&P 500 is lower by 0.3% as today's session enters its final hour.

In the foreign exchange market, the Dollar Index is on track for its first gain in six sessions as trade holds just above 81.10. Light buying over the course of the morning lifted the greenback above the 81.00 level, and it has chopped around in a tight range between 81.10 and 81.15 throughout the afternoon.

Euro/dollar is lower by 0.3% at 1.3345 as trade pulls back from yesterday's seven-week high. The single currency stalled at the June highs near 1.3400, and now looks to be slipping back towards minor support in the 1.3300 area.

Even though the Dollar Index hovers in positive territory, dollar/yen trades lower by 0.5% at 96.33. The pair rallied overnight but surrendered all of its gains prior to the start of the U.S. session. The pair could display some volatility Sunday night when Japan releases its GDP report.DJ30 -66.69 NASDAQ -5.86 SP500 -4.74 NASDAQ Adv/Vol/Dec 1117/1.16 bln/1375 NYSE Adv/Vol/Dec 1522/403.2 mln/1443

2:30 pm : After erasing most of its early losses, the S&P 500 has taken another step back and the index now trades lower by 0.3%. Including today's modest slip, the benchmark average is poised to finish the week with a loss of 1.0%. However, the index remains higher by 5.4% for the third quarter.

With regard to individual sectors, the top performing sector of the day, materials (+0.5%), is also the strongest group this quarter with a gain of 7.8%. On the downside, today's weakest sector, telecom services (-0.8%), is the only group trading with a third quarter loss. Since the start of July, the rate-sensitive sector is lower by 1.7%.

Speaking of rates, Treasuries have been very quiet today, but recent action saw the benchmark 10-yr yield slip one basis point to 2.58%.DJ30 -57.68 NASDAQ -2.88 SP500 -3.68 NASDAQ Adv/Vol/Dec 1129/1.09 bln/1334 NYSE Adv/Vol/Dec 1562/371.1 mln/1397

2:05 pm : The S&P 500 is lower by 0.2% as the index continues its slow climb back to its flat line. A handful of cyclical sectors lagged during early action, but currently, only energy (-0.5%) and technology (-0.3%) trail behind the broader market.

Financials and discretionary shares have trimmed their losses to 0.1% apiece. The discretionary sector has received some support from Priceline.com (PCLN 981.41, +47.66) after the company beat on earnings and revenue.DJ30 -52.22 NASDAQ -1.39 SP500 -3.11 NASDAQ Adv/Vol/Dec 1128/1.02 bln/1322 NYSE Adv/Vol/Dec 1548/344.5 mln/1400

1:30 pm : After erasing roughly half of its early losses, the S&P 500 has held near its current levels for the past hour. The benchmark index has trimmed its loss to 0.2% while the Nasdaq hovers just below its flat line.

Elsewhere, small caps have held up well as the Russell 2000 trades higher by 0.1%.

With equities rebounding from their lows, the CBOE Volatility Index (VIX 13.01, +0.28) has retreated from its best level of the day. However, the near-term volatility measure remains on pace to post its second weekly gain since late June.DJ30 -66.05 NASDAQ -0.07 SP500 -3.02 NASDAQ Adv/Vol/Dec 1156/937.2 mln/1300 NYSE Adv/Vol/Dec 1486/315.7 mln/1442

1:00 pm : The S&P 500 trades lower by 0.3% as nine of ten sectors hover in the red. After opening with a slim loss, the S&P climbed back into positive territory, but could not get above the 1,700 level before being pressured to fresh lows. The early selling was halted around 11:30 ET as the European session came to an end, and the S&P has been climbing back towards its flat line since that time.

At midday, the materials sector (+0.2%) is the lone advancer as steelmakers rally after China's industrial production surpassed estimates (9.7% actual, 9.0% forecast). The Market Vectors Steel ETF (SLX 43.57, +1.28) trades higher by 3.0%. Most miners also trade with gains but Molycorp (MCP 6.54, -0.87) is lower by 11.7% after missing on earnings and revenue.

Other commodity-related groups have not been as fortunate. The energy space (-0.6%) is the weakest performer among cyclical groups even as crude oil hovers near its highs with a solid gain of 2.0% at $105.49 per barrel.

Elsewhere, the industrial sector trades in-line with the broader market, but transportation companies have displayed broad weakness. The Dow Jones Transportation Average is lower by 0.6%.

The remaining cyclical groups have fared better than energy and industrials. Discretionary shares hold just below their flat line and the financial sector sports a slim loss of 0.1%.

With regard to defensive groups, consumer staples (-0.2%) and health care (-0.2%) are little changed while telecom services (-0.8%) and utilities (-0.5%) underperform.

Treasuries have been confined to a narrow range and the benchmark 10-yr yield holds steady at 2.59%.

Market participants received just one economic data point today.

Wholesale inventories fell 0.2% in June after declining a downwardly revised 0.6% (from -0.5%) in May. That was the third consecutive monthly decline and the fourth monthly drop, so far, in 2013. The Briefing.com consensus expected wholesale inventories to increase 0.4%.

The Bureau of Economic Analysis assumed that wholesale inventories were flat in June in the advance estimate for second quarter GDP growth. The downward surprise will add a minor negative contribution to the revisions in the second estimate.DJ30 -88.18 NASDAQ -1.79 SP500 -4.65 NASDAQ Adv/Vol/Dec 1095/876.1 mln/1350 NYSE Adv/Vol/Dec 1424/292.4 mln/1508

12:30 pm : The S&P 500 is off by 0.4% as the index continues its slow climb off the opening lows. Participants will be keeping a close watch over the afternoon performance of cyclical sectors as they have yet to demonstrate a notable bullish or bearish bias.

Currently, the six cyclical groups trade in mixed fashion. The materials sector (+0.2%) is the lone advancer while financials (-0.2%) and discretionary shares (-0.2%) trade slightly ahead of the broader market. Meanwhile, energy (-0.7%) and industrials (-0.4%) lag while the tech sector trades in-line with the S&P.

Although the S&P remains in the red, small cap shares have shown some strength as the Russell 2000 trades flat.DJ30 -95.11 NASDAQ -2.18 SP500 -5.04 NASDAQ Adv/Vol/Dec 1057/806.5 mln/1359 NYSE Adv/Vol/Dec 1347/271.9 mln/1554

12:00 pm : Recent action saw the S&P 500 regain a slim portion of its losses. The index remains lower by 0.4% but today's leading sector, materials, has climbed back into positive territory as steelmakers rally broadly. The Market Vectors Steel ETF (SLX 43.32, +1.03) is higher by 2.4%.

Although nine sectors remain in negative territory, their losses have been limited to less than 1.0%. Telecom services and energy hold respective losses of 0.9% and 0.7%. Meanwhile, the next weakest performer, technology, trades lower by 0.5%.

Low volume has persisted throughout the week, and today looks to be no different. With 239 million shares traded on the NYSE, today's final tally is unlikely to surpass its 50-day average of 756 million.DJ30 -109.40 NASDAQ -9.17 SP500 -6.87 NASDAQ Adv/Vol/Dec 962/715.1 mln/1448 NYSE Adv/Vol/Dec 1229/241.9 mln/1664

11:35 am : The S&P 500 trades lower by 0.6% as broad-based weakness persists. All ten sectors now trade in the red after materials surrendered their gain. Meanwhile, energy, health care, and technology are all down between 0.7% and 1.0% with energy as the weakest performer even as crude oil adds 1.6% to $105.10 per barrel.

So far, market breadth has not improved much as declining issues on the NYSE continue to outpace advancers by a 1.9:1 ratio. Although the Nasdaq outperforms the broader market, its breadth is even lower at 2:1.

Despite the weakness in equities, Treasuries have not moved much. The benchmark 10-yr yield is higher by one basis point at 2.60%.DJ30 -133.50 NASDAQ -15.95 SP500 -9.78 NASDAQ Adv/Vol/Dec 831/639.3 mln/1563 NYSE Adv/Vol/Dec 1033/215.7 mln/1847

11:00 am : After climbing out of the red at the open, the S&P 500 rose to a session high of 1,699.42 before being pressured to fresh lows. Similar to yesterday, the selling coincided with dollar/yen weakness that sent the pair below 96.25.

At this juncture, equities and the dollar/yen pair continue to hover near their lows. Nine of ten sectors trade in the red while the materials space adds 0.1%. On the downside, consumer staples (-0.4%), energy (-0.5%), and technology (-0.4%) are among the weakest sectors.

With equities displaying weakness, the CBOE Volatility Index (VIX 13.11, +0.38) hovers near its best level of the day as some participants seek protection.DJ30 -72.04 NASDAQ -4.10 SP500 -5.24 NASDAQ Adv/Vol/Dec 1036/504.1 mln/1304 NYSE Adv/Vol/Dec 1261/174.8 mln/1548

10:35 am : The broader market just sold, but most commodities remain mostly higher. Grains and soft commodities are mixed.

Crude oil has been in positive territory all session and rose back above $105/barrel this morning. Sept crude oil is now +1.6% at $105.01/barrel. Natural gas dropped off earlier near the open, falling into the red around the time floor trading opened. Sept natural gas is now +0.5% at $3.31/MMBtu.

Precious metals aren't too actionable this morning. Dec gold is currently -0.1% at $1308.30/oz, while Sept silver is +0.7% at $20.33/oz.DJ30 -53.91 NASDAQ -1.30 SP500 -3.89 NASDAQ Adv/Vol/Dec 1062/397.2 mln/1233 NYSE Adv/Vol/Dec 1305/145 mln/1477

10:00 am : The S&P 500 hovers just above its flat line.

June wholesale inventories decreased 0.2% while the Briefing.com consensus expected an uptick of 0.4%. Today's report follows last month's revised decrease of 0.6%.DJ30 +4.14 NASDAQ +6.10 SP500 +0.59 NASDAQ Adv/Vol/Dec 1208/227.3 mln/995 NYSE Adv/Vol/Dec 1400/93.3 mln/1292

09:45 am : The S&P 500 is flat after erasing its slim opening loss. The materials sector (+0.6%) has shown some early strength after China reported a 9.7% year-over-year increase in its industrial production (9.0% forecast, 8.9% prior).

On the downside, consumer staples trade lower by 0.2% while the remaining defensive sectors underperform slightly as well.

Treasuries slipped at the open, but their losses have been limited. The benchmark 10-yr yield is higher by just one basis point at 2.60%.

June wholesale inventories will be reported at 10:00 ET.DJ30 +5.68 NASDAQ +7.17 SP500 +1.77 NASDAQ Adv/Vol/Dec 1205/147.3 mln/939 NYSE Adv/Vol/Dec 1473/65.6 mln/1198

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -3.20. Nasdaq futures vs fair value: -1.00. A final look at equity futures ahead of the open reveals modest losses with the S&P 500 futures off by 0.2%.

Overnight action has not generated many headlines as major Asian indices registered slim gains while European markets display little change as the session heads into the home stretch.

Similarly, the foreign exchange market has been very quiet with notable moves limited to yen pairs. Dollar/yen has retreated from yesterday's highs and at its current 96.32, the pair is roughly where it was at the start of yesterday's session. Despite dollar weakness against the yen, the dollar index holds a slim gain of 0.1%.

Treasuries have also been subdued and the benchmark 10-yr yield is little changed at 2.59%.

June wholesale inventories will be reported at 10:00 ET.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: -5.10. Nasdaq futures vs fair value: -4.50. The S&P 500 futures trade lower by 0.3%.

Asian markets finished a quiet session in mixed fashion with Hong Kong's Hang Seng leading the way with a gain of 0.7% after China released a full slate of economic data. China's CPI rose 2.7% year-over-year (2.8% expected, 2.7% prior) while the month-over-month reading ticked up 0.1%, as expected. In addition, PPI decreased 2.3% year-over-year (-2.2% expected, -2.7% prior). Separately, retail sales increased 13.2% year-over-year (13.5% consensus, 13.3% previous), industrial production rose 9.7% year-over-year (9.0% forecast, 8.9% prior), and fixed asset investment jumped 20.1% year-over-year (20.0% expected, 20.1% previous). Elsewhere, Japan's Household Confidence slipped to 43.6 from 44.3 (45.3 expected) while the Tertiary Industry Activity Index came in at -0.3% (-0.2% expected, 1.3% previous). In addition, the M2 money stock increased 3.7% year-over-year (3.8% consensus, 3.8% prior). Also of note, the Reserve Bank of Australia lowered its 2013 GDP growth target by 25 basis points to 2.25%. The central bank expects GDP growth to reach 3.5% as early as 2015.

In Japan, the Nikkei added 0.1% as producers of basic materials outperformed. Mitsubishi Materials, Mitsui Chemicals, and Toho Zinc all gained between 6.6% and 9.6%. Nikon led to the downside with a loss of 14.3% after cutting its forecast. Other exporters also lagged with Canon and Olympus both sliding near 2.2%.
Hong Kong's Hang Seng advanced 0.7% with energy names providing leadership. China Coal Energy and China Shenhua Energy advanced 10.3% and 7.8%, respectively. Galaxy Entertainment and Sands China finished among the laggards with losses near 1.0%.
In China, the Shanghai Composite rose 0.4% as growth-sensitive names outperformed. Gansu Ronghua Industry and Shanghai Material Trading both gained near 10.0%.

Major European indices are little changed as the quiet session continues. Notable economic data was limited. Great Britain's trade deficit narrowed to GBP8.08 billion from GBP8.67 billion (-GBP8.50 billion expected). In addition, the CB Leading Index slipped 0.2% month-over-month (0.4% previous). Elsewhere, France reported a government budget deficit of EUR59.3 billion (-EUR72.6 billion prior) and its industrial production declined 1.4% month-over-month. Also of note, Italian trade surplus narrowed to EUR3.62 billion from EUR3.93 billion (EUR4.22 billion consensus). In addition, Italy's Prime Minister Enrico Letta warned that the lack of a rebound in jobs poses the biggest risk to economic recovery.

Great Britain's FTSE is higher by 0.4% as miners post notable gains. Anglo American, Fresnillo, Glencore Xstrata, and Randgold Resources are all up between 3.6% and 5.6%. Financials are among the laggards with Barclays and Standard Life down 0.7% and 3.6%, respectively.
In France, the CAC is flat as financials trade mixed. BNP Paribas is lower by 0.4% and Credit Agricole trades up 1.0%.
Germany's DAX holds a slim gain of 0.1%. Commerzbank leads the way with a gain of 2.3% while BASF underperforms with a loss of 1.2%.

08:25 am : S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -3.50. After the major averages logged modest gains yesterday, equity futures are back in the red this morning as they indicate a lower start to today's session. Overnight, major Asian indices advanced after China released another set of encouraging data. The Middle Kingdom's industrial production rose 9.7% year-over-year (9.0% forecast, 8.9% prior) and fixed asset investment jumped 20.1% year-over-year (20.0% expected, 20.1% previous). In addition, retail sales increased 13.2% year-over-year (13.5% consensus, 13.3% previous).

The data provided some support to growth-sensitive stocks but the gains in Japan's Nikkei were limited to just 0.1% as dollar/yen retreated below 96.75 following its rally during yesterday's U.S. session. Currently, the pair trades at 96.50. Outside of the move in the yen, currency markets were very quiet overnight with the euro and the pound little changed against the U.S. dollar.

Similarly, the Treasury market has not moved much and the benchmark 10-yr yield is flat at 2.59%.

07:56 am : [BRIEFING.COM] S&P futures vs fair value: -5.20. Nasdaq futures vs fair value: -5.00. U.S. equity futures hold modest losses after slipping from their overnight highs. The S&P 500 futures are off by 0.3%.

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +0.1%, China's Shanghai Composite +0.4%, Hong Kong's Hang Seng +0.7%.
In regional economic data:
China's CPI rose 2.7% year-over-year (2.8% expected, 2.7% prior) while the month-over-month reading ticked up 0.1%, as expected. In addition, PPI decreased 2.3% year-over-year (-2.2% expected, -2.7% prior). Separately, retail sales increased 13.2% year-over-year (13.5% consensus, 13.3% previous), industrial production rose 9.7% year-over-year (9.0% forecast, 8.9% prior), and fixed asset investment jumped 20.1% year-over-year (20.0% expected, 20.1% previous).
Japan's Household Confidence slipped to 43.6 from 44.3 (45.3 expected) while the Tertiary Industry Activity Index came in at -0.3% (-0.2% expected, 1.3% previous). In addition, the M2 money stock increased 3.7% year-over-year (3.8% consensus, 3.8% prior).
In news:
The Reserve Bank of Australia lowered its 2013 GDP growth target by 25 basis points to 2.25%. The central bank expects GDP growth to reach 3.5% as early as 2015.

Major European indices trade in mixed fashion. Great Britain's FTSE +0.3%, Germany's DAX -0.1%, and France's CAC -0.2%.
Notable economic data was limited:
Great Britain's trade deficit narrowed to GBP8.08 billion from GBP8.67 billion (-GBP8.50 billion expected). In addition, the CB Leading Index slipped 0.2% month-over-month (0.4% previous).
France reported a government budget deficit of EUR59.3 billion (-EUR72.6 billion prior) and its industrial production declined 1.4% month-over-month.
Italian trade surplus narrowed to EUR3.62 billion from EUR3.93 billion (EUR4.22 billion consensus).
Looking at news:
Italy's Prime Minister Enrico Letta warned that the lack of a rebound in jobs poses the biggest risk to economic recovery.

In U.S. corporate news:

Molycorp (MCP 6.60, -0.81) is -10.9% after missing on earnings and revenue.
NVIDIA (NVDA 14.25, -0.45) is -3.1% after the company's cautious guidance overshadowed its earnings beat on in-line revenue.
Priceline.com (PCLN 991.63, +57.88) is +6.2% after reporting a bottom-line beat.

June wholesale inventories will be reported at 10:00 ET.

07:11 am : [BRIEFING.COM] S&P futures vs fair value: -6.20. Nasdaq futures vs fair value: -6.50.

07:11 am : Nikkei...13615.19...+9.60...+0.10%. Hang Seng...21807.56...+151.70...+0.70%.

07:11 am : FTSE...6548.48...+18.80...+0.30%. DAX...8305.89...-12.40...-0.20%.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

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