TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 8:59 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: September 9th Monday Trade Results - Profit $1475.00
PostPosted: Tue Sep 10, 2013 1:07 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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)

Attachment:
090913-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1475.00.png
090913-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1475.00.png [ 84.2 KiB | Viewed 287 times ]

click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $100.00 dollars or +1.00 points, Emini ES ($ES_F) futures @ $1375.00 dollars or +27.50 points, Light Crude Oil CL ($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 @ $1475.00 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 chat room. You can read today's 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=121&t=1598

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=219&t=1973

-----------------------------

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/BOE/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.

Dow Jumps 140 points As Syria Fears Fade

Attachment:
090913-Key-Price-Action-Markets.png
090913-Key-Price-Action-Markets.png [ 529.24 KiB | Viewed 297 times ]

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

NEW YORK (CNNMoney)
Stocks ended higher Monday as concerns about what might transpire in Syria have ebbed -- for the time being at least.

The market, which had been trading higher all day, rallied further after Secretary of State John Kerry made comments that appeared to open the door to a diplomatic alternative in Syria instead of military strikes.

The Dow added nearly 140 points. The S&P 500 and Nasdaq were each up about 1%. These indexes are up between 15% and 23% for the year. U.S. stocks managed to eke out gains last week -- despite a weaker-than-expected jobs report Friday.

Hiring continued in August, but at a slower pace, which may signal the Federal Reserve will stand pat on its bond-buying program when it meets next week. The Fed has been consistently saying it will not begin tapering until it sees marked improvement in the labor market.

What's moving: Smithfield Foods (SFD, Fortune 500) and China's Shuanghui International announced after the closing bell Friday that U.S. regulators had cleared Shuanghui's proposed acquisition of the American meat processor.

Dell (DELL, Fortune 500) shares rose slightly after activist hedge fund manager Carl Icahn said he was giving up his fight for control of the computer maker. That could make it easier for founder Michael Dell and investment firm Silver Lake to take the company private.

Traders on StockTwits thanked Icahn for playing and invited speculation on what Icahn could jump into next BlackBerry perhaps?

dawnmail: $IEP-carl wins again taking the "little" he made on $DELL. His war made shareholders an extra .60cents.Love being on hisside,don't cross him

TranscendAsset: Icahn out of $DELL and into $BBRY? that would heat things up Bullish

* Video - Going private BlackBerry's only hope?

Speaking of BlackBerry (BBRY), shares rose on reports that its largest investor could be considering a buyout of the struggling smartphone company.

SteelBerry: "@Silence: $BBRY Must be for liquidation value only." You should do more reading on these CDN pension funds

dramdram: $BBRY just reported on CNBC that pensions funds have lined up bilions to support buyout. This will go a lot higher fro here...

Facebook (FB) moved slightly higher but failed to exceed its all-time high of $45.

applepickerr: Cramer: "The love for $FB now ... is equivalent of the hatred at the $25-26 level"

DanZanger: $FB Still on the run as one of the leading stocks in the market. http://stks.co/ikMI

Apple (AAPL, Fortune 500) is expected to unveil new iPhones during a Tuesday event. The stock closed 1.65 higher.

Shares of Delta (DAL, Fortune 500) rose more than 9%, following news that the airline would join the S&P 500 after the close of trading Tuesday. It will replace BMC Software (BMC), which is being taken private.

* Apple's innovation problem is real

European markets closed mixed, while Asian markets closed with healthy gains.

Japanese stocks hit a one-month high Monday as Tokyo's Olympic win and stronger-than-expected economic data gave investors a double-dose of good news.

Image



4:10 pm : The S&P 500 settled higher by 1.0% as trade managed to regain its 50-day moving average (1666/1667) for the first time in two weeks.

Equities climbed from the open, bolstered by reassuring economic reports out of China and Japan, headlines suggesting a strike against Syria could possibly be avoided, and the notion that the relatively disappointing employment report on Friday has lowered the probability of a big tapering announcement at the September 17-18 FOMC meeting.

Overnight, China reported a larger-than-expected trade surplus of $28.61 billion as imports grew 7.0% (11.3% expected) and exports increased 7.2% (6.0% forecast). Elsewhere, Japan saw its second quarter GDP revised up to 0.9% quarter-over-quarter from 0.6% and Tokyo received the nod to host the 2020 Olympics.

Growth-sensitive sectors paced the advance with materials ending in the lead. The sector rose 1.5% as steelmakers rallied in reaction to the data from Asia. The Market Vectors Steel ETF (SLX 45.00, +1.21) jumped 2.8%. Fertilizer names also registered solid gains after Russian President Vladimir Putin said the ongoing potash dispute with Belarus needs to be resolved. Mosaic (MOS 44.31, +2.15) ended higher by 5.1%.

Other commodity-related sectors also displayed strength. Industrials (+1.2%) were bolstered by broad gains among transportation companies and machinery producers. The Dow Jones Transportation Average rose 1.4% and Dow component Caterpillar (CAT 85.59, +2.20), who does a significant amount of business in China, advanced 2.6%.

The energy sector (+1.0%) also outperformed even as crude oil fell 1.4% to $109.04 per barrel. Crude futures slid to their lows after reports indicating Russia has urged Syria to put its chemical weapons under international control were followed by headlines suggesting Syria has welcomed the proposal. The reports contributed to some cautious optimism hoping that a diplomatic solution remains within the realm of possibilities.

With regard to other cyclical sectors, technology (+1.3%) displayed strength throughout the day. The largest sector component, Apple (AAPL 506.17, +7.95), gained 1.6% ahead of tomorrow's product refresh. Elsewhere, discretionary shares finished in-line with the S&P, which overshadowed the broad gains among homebuilders. The iShares Dow Jones US Home Construction ETF (ITB 21.78, +0.90) spiked 4.3%.

Countercyclical sectors lagged across the board as consumer staples, health care, telecom services, and utilities added between 0.2% and 0.8%.

Treasuries finished near their highs as participants speculated whether the August employment report was weak enough to prevent the data-dependent Fed from lowering the pace of its asset purchases at the September 17/18 FOMC meeting. The benchmark 10-yr yield ended lower by four basis points at 2.90%.

Participation in today's session was limited as less than 650 million shares changed hands on the floor of the New York Stock Exchange.

According to the Federal Reserve, consumer credit increased by $10.4 billion in July. This followed the prior month's increase of $11.9 billion, and was lower than the $13.0 billion that had been broadly expected among economists polled by Briefing.com.

There is no economic data of note scheduled to be reported tomorrow.DJ30 +140.62 NASDAQ +46.17 SP500 +16.54 NASDAQ Adv/Vol/Dec 1929/1.62 bln/621 NYSE Adv/Vol/Dec 2413/638.7 mln/603

3:30 pm :

Oct crude oil traded lower today following headlines suggesting Syria has welcomed Russia's proposal for Syria to put its chemical weapons under international control. The energy component pulled back from its session high of $110.20 per barrel set at floor trade open and settled with a 0.9% loss at $109.53 per barrel. In electronic trade, crude is selling off and is now just below $109/barrel.
Oct natural gas, on the other hand, traded higher. It picked up momentum as it headed into the close after chopping around near the $3.57 per MMBtu level for most of the session. It settled at its session high of $3.61 per MMBtu, or 2.3% higher.
Dec gold brushed a session high of $1390.90 per ounce but lost momentum in late morning action and spent the remainder of the session chopping around near the unchanged line. It settled 20 cents lower at $1386.50 per ounce despite a weaker dollar index.
Dec silver spent its entire session in negative territory, touching a session low of $23.52 per ounce. Although it traded up to a session high of $23.83 per ounce in late morning action, it pulled back as the session progressed and settled with a 0.8% loss at $23.72 per ounce.

DJ30 +138.17 NASDAQ +44.47 SP500 +15.47 NASDAQ Adv/Vol/Dec 1878/1361.0 mln/652 NYSE Adv/Vol/Dec 2373/413 mln/617

3:00 pm : The S&P 500 trades higher by 1.0% as today's session enters its final hour.

According to the Federal Reserve, consumer credit increased by $10.4 billion in July. This follows the prior month's increase of $11.9 billion, and is lower than the $13.0 billion that had been broadly expected among economists polled by Briefing.com.DJ30 +148.04 NASDAQ +44.70 SP500 +15.72 NASDAQ Adv/Vol/Dec 1845/1.23 bln/673 NYSE Adv/Vol/Dec 2339/373.5 mln/651

2:35 pm : Equities have climbed to fresh highs as the S&P 500 trades with a gain of 1.0%. The recent push to new highs saw corresponding upticks in all ten sectors, but cyclical groups remain in the lead.

Interestingly, participation in today's session has been limited as only 345 million shares have changed hands on the floor of the New York Stock Exchange with just 90 minutes left in the session.

Light trading volume had persisted throughout August while the first four September sessions have generated totals that were more in-line with longer-term averages. Currently, the average 50-day volume sits at 682 million, but it does not appear as though today's final tally will eclipse this figure.DJ30 +154.55 NASDAQ +45.07 SP500 +16.19 NASDAQ Adv/Vol/Dec 1843/1.15 bln/678 NYSE Adv/Vol/Dec 2340/345.2 mln/639

2:00 pm : The major averages remain near their highs as the quiet afternoon continues. The telecom sector had spent the first half of the session in negative territory, but it has since climbed out of the red. The sector now trades higher by 0.2% while the other countercyclical groups (consumer staples, health care, and utilities) are up between 0.2% and 0.5%.

With the third quarter down to its final three weeks, cyclical sectors are solidifying their quarterly standings ahead of their defensive counterparts. Currently, the materials sector is on pace to end the quarter with a gain of 8.4% while the tech sector follows with an advance of 6.2%.

With regard to countercyclical sectors, only the health care space is on track to end the quarter in positive territory (+5.5%) while telecom services and utilities hold respective quarter-to-date losses of 6.1% and 2.5%. Lastly, the consumer staples sector is flat since the end of June.DJ30 +136.82 NASDAQ +42.20 SP500 +14.72 NASDAQ Adv/Vol/Dec 1819/1.05 bln/698 NYSE Adv/Vol/Dec 2314/311.9 mln/649

1:30 pm : It has certainly been a good start to the week for the major averages so far. They have been locked in a trend-up move since the open, bolstered by reassuring economic reports out of China and Japan, headlines suggesting a strike against Syria could possibly be avoided, and the notion that the relatively disappointing employment report on Friday has lowered the probability of a big tapering announcement at the September 17-18 FOMC meeting or perhaps has forestalled one altogether.

Whatever the case may be, the stock market has a risk-on disposition that has manifested itself in the outperformance of the cyclical sectors.

To that end, Caterpillar (CAT 85.84, +2.45) and 3M (MMM 116.68, +1.64) are today's biggest point gainers in the Dow Jones Industrial Average while the industrials sector (1.1%) helps lead the broader market.DJ30 +118.58 NASDAQ +34.67 SP500 +11.85 NASDAQ Adv/Vol/Dec 1750/952 mln/745 NYSE Adv/Vol/Dec 2243/283 mln/702

12:55 pm : The first half of today's session has been relatively quiet as the major averages sport gains between 0.7% and 1.0%. The small cap Russell 2000 holds the lead and the S&P 500 trades higher by 0.7% after regaining its 50-day moving average (1666/1667) for the first time in two weeks.

Stocks have traded in positive territory since the open with growth-sensitive sectors providing the market with an early boost. The initial bid followed solid trade data from China that indicated the Middle Kingdom's trade surplus expanded to $28.61 billion as imports grew 7.0% (11.3% expected) and exports increased 7.2% (6.0% forecast).

Commodity-related sectors (energy, materials, and industrials) continue to outperform at midday with materials in the lead.

The materials sector trades up 1.3% as major steelmakers rally. The Market Vectors Steel ETF (SLX 44.89, +1.10) is higher by 2.5%. In addition, fertilizer stocks have displayed strength after Russian President Vladimir Putin said the potash dispute with Belarus needs to be solved. Mosaic (MOS 43.72, +1.56) sports an advance of 3.7%.

Elsewhere, machinery manufacturers and transportation companies have provided support to the industrial sector. Dow component Caterpillar (CAT 85.75, +2.36) is higher by 2.8% and the Dow Jones Transportation Average trades with a gain of 0.9%.

Also of note, the energy space (+0.9%) outperforms even as crude oil holds a loss of 0.8% at $109.64 per barrel.

Oil fell to its lows after reports indicating Russia has urged Syria to put its chemical weapons under international control were followed by headlines suggesting Syria has welcomed the proposal. The reports contributed to some cautious optimism that a diplomatic solution is not out of reach just yet.

Treasuries have held near their highs throughout the session with the benchmark 10-yr yield down three basis points at 2.91%.

Today's economic data will be limited to the 15:00 ET release of the July consumer credit report.DJ30 +112.72 NASDAQ +33.60 SP500 +11.53 NASDAQ Adv/Vol/Dec 1735/867.1 mln/745 NYSE Adv/Vol/Dec 2237/255.7 mln/684

12:30 pm : Recent action saw the S&P 500 regain its 50-day moving average (1666/1667) for the first time since sliding below that level on August 26. While the S&P trades at its best level of the day, it continues to be outpaced by the small cap Russell 2000 (+1.1%).

The materials space (+1.3%) remains the top performer of the day while technology (+1.2%) and industrials (+1.1%) follow not far behind. The technology sector hovers near its highs as top components register broad gains. Apple (AAPL 506.61, +8.39) is higher by 1.7% as investors anticipate tomorrow's press event.

Elsewhere, industrials have received all-around support from transportation companies and machinery producers. The Dow Jones Transportation Average trades up 0.9% and Caterpillar (CAT 85.68, +2.29) holds a gain of 2.8%.DJ30 +120.63 NASDAQ +33.98 SP500 +12.20 NASDAQ Adv/Vol/Dec 1783/798.5 mln/676 NYSE Adv/Vol/Dec 2279/235.9 mln/638

11:55 am : The S&P 500 has returned to its best level of the day after participants received some news related to Syria.

The situation surrounding the Middle Eastern country has not changed much over the weekend and the U.S. Congress remains on track to debate the potential use of U.S. forces this week. However, earlier reports indicated Russia has urged Syria to put its chemical weapons under international control in order to avoid foreign military strikes. Subsequent headlines have suggested Syria has welcomed the proposal.

The reports contributed to some cautious optimism hoping that a diplomatic solution is not out of the reach just yet. Crude oil fell to its lows shortly after the headlines crossed and the energy component now trades lower by 0.9% at $109.55 per barrel.DJ30 +103.14 NASDAQ +30.77 SP500 +10.19 NASDAQ Adv/Vol/Dec 1775/707.4 mln/668 NYSE Adv/Vol/Dec 2239/210.1 mln/652

11:30 am : The major averages continue to hold their levels with the S&P 500 up 0.5%. Although little change has taken place among individual sectors, the Russell 2000 (+0.9%) has climbed into the lead as small caps display relative strength.

As mentioned earlier, while most cyclical groups trade ahead of the broader market, the financial sector trails behind the S&P. In addition, the discretionary sector had provided a measure of leadership at the open, but now trades in-line.

On the downside, countercyclical sectors remain weak. Health care and telecom services are both down near 0.2% while consumer staples and utilities hold slim respective gains of 0.2% and 0.1%.DJ30 +81.94 NASDAQ +25.45 SP500 +7.99 NASDAQ Adv/Vol/Dec 1703/612.5 mln/713 NYSE Adv/Vol/Dec 2185/182.9 mln/674

11:00 am : The S&P 500 trades higher by 0.4% after the index tagged its 50-day average (1666/1667) at its best level of the day. Growth-oriented sectors continue to provide leadership with commodity-related groups (energy, materials, and industrials) leading the way.

Meanwhile, the financial sector (+0.3%) is the only cyclical group trailing behind the S&P. Wells Fargo (WFC 41.03, -0.40) is lower by 1.0% after the company said it expects a decline in third quarter mortgage revenue and originations. On a related note, home builders trade broadly higher after enduring an extended stretch of weakness. The iShares Dow Jones US Home Construction ETF (ITB 21.48, +0.61) trades up 2.9%.

The recent underperformance of home builders has been related to the continued rise in Treasury yields. Today, however, Treasuries continue to hover near their highs with the benchmark 10-yr yield lower by four basis points at 2.90%.DJ30 +85.78 NASDAQ +22.68 SP500 +7.94 NASDAQ Adv/Vol/Dec 1681/513.2 mln/688 NYSE Adv/Vol/Dec 2153/154.8 mln/684

10:30 am : Commodities are mixed this morning with, oil, not surprisingly, one of the most volatile commodities this morning.

WTI crude has been in the red all day so far and has fallen as low as $109.56/barrel. In current activity, Oct crude oil is -0.8% at $109.60/barrel.

On the other hand, natural gas futures have been trading higher all day so far, putting in a HoD of $3.59/MMBtu as short while ago. Oct nat gas is now +1.0% at $3.56/MMBtu.

Precious metals put in new session lows a couple of hours ago, but have since rallied off those levels. Gold has moved back into positive territory and just hit a new HoD, while silver has almost erased all of its losses. Currently, Dec gold is +0.2% at $1389.50/oz, while Dec silver is -0.4% at $23.80/oz.DJ30 +81.52 NASDAQ +20.99 SP500 +7.52 NASDAQ Adv/Vol/Dec 1594/378.8 mln/736 NYSE Adv/Vol/Dec 2118/121 mln/668

10:00 am : The major averages have padded their early gains as the Nasdaq (+0.7%) trades just ahead of the S&P 500 (+0.6%). Cyclical sectors have shown early strength as five of six groups trade ahead of the broader market. The energy sector trades in-line while crude oil is lower by 0.4% at $110.05 per barrel.

Meanwhile, all four defensively-oriented sectors trail behind the S&P. The telecom services space is little changed while consumer staples, health care, and utilities add between 0.1% and 0.4%.

Treasuries are hovering near their highs with the benchmark 10-yr yield lower by five basis points at 2.89%.DJ30 +101.37 NASDAQ +26.50 SP500 +10.45 NASDAQ Adv/Vol/Dec 1665/218.3 mln/593 NYSE Adv/Vol/Dec 2122/79.3 mln/591

09:40 am : The major averages began the session in positive territory with nine of ten sectors posting opening gains. Growth-sensitive materials (+0.8%) and industrials (+0.6%) have shown early strength after China reported solid trade data over the weekend. Dow component Caterpillar (CAT 84.92, +1.53) trades with an early gain of 1.8%. In the materials sector, steel makers trade ahead of the broader market with the Market Vectors Steel ETF (SLX 44.35, +0.56) higher by 1.3%.

Technology stocks are also among the early leaders as the largest sector component, Apple (AAPL 505.44, +7.22), trades higher by 1.4%.

On the downside, telecom services and utilities are both down near 0.2%.DJ30 +76.95 NASDAQ +24.95 SP500 +7.75 NASDAQ Adv/Vol/Dec 1605/120.1 mln/535 NYSE Adv/Vol/Dec 1974/54.8 mln/661

09:14 am : [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +12.00. The S&P 500 futures hold a modest gain of 0.3% after spending the entire pre-market session in positive territory. Futures have traded with a positive bias after China reported a better-than-expected trade surplus of $28.61 billion ($20.00 billion expected, $17.82 billion prior) as imports rose 7.0% year-over-year (11.3% forecast, 10.9% previous) and exports increased 7.2% year-over-year (6.0% consensus, 5.1% prior). The data gave a boost to Asian indices with Japan also benefitting from the announcement Tokyo has been chosen to host the 2020 Olympic Games.

Meanwhile, the European session has been a bit more cautious with most indices trading in the red. In Italy, a parliamentary committee has begun debating whether PDL leader Silvio Berlusconi should be allowed to remain in the Senate after he was found guilty of tax fraud. The deliberations are expected to extend past today and Mr. Berlusconi's party has threatened to withdraw from Senate should their leader be banned from holding office.

Today's economic data will be limited to the 15:00 ET release of the July consumer credit report.

08:55 am : [BRIEFING.COM] S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +9.20. The S&P 500 futures continue to trade higher by 0.2%.

It was a sea of green across Asia as all of the major bourses ended with gains. China's Shanghai Composite (+3.4%) posted a strong advance after the latest trade data showed exports jumped 7.2% year-over-year (5.5% expected). Imports were light, posting a 7.0% year-over-year increase. However, the Shanghai Composite was not the top gainer as that title went to Thailand's SET (+3.6%). Elsewhere, Japan's Nikkei (+2.5%) surged following the revised second quarter reading of 3.8% year-over-year (2.6% expected), and on word Tokyo would host the 2020 Olympics. The Australian election saw the conservatives take power for the first time in six years as Tony Abbott was elected prime minister. India's Sensex was closed for Ganesh Chaturthi. Data from the rest of the region saw Australia's home loans rise 2.4% month-over-month (2.2% expected) and its ANZ Job Advertisements slip 2.0% month-over-month while Taiwan's trade surplus widened to TWD135 billion (TWD94 billion previous).

In Japan, the Nikkei gained 2.5% as trade ended at its best level in five weeks. Real estate and construction stocks outperformed on news of the Tokyo Olympics with Mitsui Fudosan gaining 5.7% and Kajima Corp adding more than 8.0%.
Hong Kong's Hang Seng added 0.6% as trade gained for the seventh time in eight sessions. Property developers were mixed as Hang Lung Properties rose 1.8% and Cheung Kong shed 0.6%. Meanwhile, mainland financials gained with ICBC and Bank of Communications tacking on 2.1% and 4.6%, respectively.
In China, the Shanghai Composite settled higher by 3.4% as trade posted its biggest advance of 2013. Financials rallied sharply on hopes they would soon be able to issue preferred shares. Shanghai Pudong and Agricultural Bank of China both ended up the daily limit, 10%.

Most major European indices trade lower while Italy's MIB outperforms (+0.2%) as a parliamentary committee has begun debating whether PDL leader Silvio Berlusconi should be allowed to remain in the Senate after he was found guilty of tax fraud. The deliberations are expected to extend past today and Mr. Berlusconi's party has threatened to withdraw from Senate should their leader be banned from holding office. Participants received a handful of data as Eurozone Sentix Investor Confidence rose to 6.5 from -4.9 (-2.8 expected) and Swiss unemployment held steady at 3.2% on a seasonally-adjusted basis (3.2% expected). In addition, the unadjusted rate also remained unchanged at 3.0% (3.0% forecast) while retail sales rose 0.8% year-over-year (3.2% expected, 2.3% prior).

Germany's DAX is off 0.1%. Financials are among the advancers with Commerzbank and Muenchener Re up 0.9% and 3.2%, respectively. On the downside, utility providers E.ON and RWE are both down near 2.0% apiece.
Great Britain's FTSE is lower by 0.5% as energy names lead to the downside. BG Group and Royal Dutch Shell are down 4.6% and 1.3%, respectively. Miners have shown strength as Glencore Xstrata and Fresnillo hold respective gains of 0.9% and 3.0%.
In France, the CAC trades down 0.6% wing consumer names pacing the decline. Drug maker Sanofi and food producer Danone are both down near 1.9%. Bank shares are among the leaders with Credit Agricole and Societe Generale both up close to 1.0% apiece.

08:29 am : [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +10.00. U.S. equity futures trade modestly higher with Nasdaq futures (+0.4%) in the lead as Apple (AAPL 504.40, +6.18) sports a pre-market gain of 1.2% with investors anticipating tomorrow's press event. In other stock-specific news, it was just reported that Molex (MOLX 29.34, 0.00) has agreed to be acquired by Koch Industries for $38.50 per share, representing a 31.2% premium to Friday's closing price.

The overnight session has proven to be a mixed bag as Asian indices rallied after China reported mostly upbeat trade figures while European markets trade mostly lower.

Today's lone economic data point will come in the form of the July consumer credit report, which is scheduled to be released at 15:00 ET.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +10.50. U.S. equity futures hold modest gains with the S&P 500 futures up 0.2%.

Looking at overnight developments:

Asian markets ended higher. Japan's Nikkei +2.5%, Hong Kong's Hang Seng +0.6%, and China's Shanghai Composite +3.4%.
In regional economic data:
China reported a trade surplus of $28.61 billion ($20.00 billion expected, $17.82 billion prior) as imports rose 7.0% year-over-year (11.3% forecast, 10.9% previous) and exports increased 7.2% year-over-year (6.0% consensus, 5.1% prior). Separately, CPI increased 0.5% month-over-month (0.4% forecast, 0.1% last) while the year-over-year reading rose 2.6% (2.6% expected, 2.7% previous). Also, PPI fell 1.6% year-over-year (-1.8% consensus, -2.3% prior).
Japan's second quarter GDP was revised up to 0.9% from 0.6%, as expected. GDP Price Index fell 0.5% year-over-year (-0.3% expected, -0.3% last) and bank lending rose 2.0% year-over-year (2.0% prior). In addition, the current account surplus was reported at JPY0.58 trillion (JPY0.49 trillion consensus, JPY0.34 trillion previous) and the adjusted current account surplus came in at JPY0.33 trillion (JPY0.32 trillion expected, JPY0.65 trillion last). Lastly, the Household Confidence Index fell to 43.0 from 44.3 (44.3 expected) and the Economy Watchers Current Index slipped to 51.2 from 52.3 (53.8 forecast).
Australia's ANZ Job Advertisements fell 2.0% month-over-month (-1.1% prior) and home loans increased 2.4% month-over-month (2.0% consensus, 2.6% previous).
New Zealand's manufacturing sales fell 3.4% quarter-over-quarter (-0.9% prior).
Looking at news:
Tokyo secured its bid to host the 2020 Summer Olympics even after Friday rumors suggested Madrid had edged out the Japanese capital.
In Australia, Coalition leader Tony Abbott was elected as the new prime minister.
Markets in China rallied following the release of better-than-expected trade data from the Middle Kingdom.

Major European indices trade mostly lower. Germany's DAX -0.1%, Great Britain's FTSE -0.4%, and France's CAC -0.4%. Elsewhere, Italy's MIB +0.3% and Spain's IBEX -0.6%.
Participants received a handful of data:
Eurozone Sentix Investor Confidence rose to 6.5 from -4.9 (-2.8 expected).
Swiss unemployment held steady at 3.2% on a seasonally-adjusted basis (3.2% expected) while the unadjusted rate also remained unchanged at 3.0% (3.0% forecast). Separately, retail sales rose 0.8% year-over-year (3.2% expected, 2.3% prior).
In news:
In Italy, a parliamentary committee has begun debating whether PDL leader Silvio Berlusconi should be allowed to remain in the Senate after he was found guilty of tax fraud. The deliberations are expected to extend past today and Mr. Berlusconi's party has threatened to withdraw from Senate should their leader be banned from holding office.

In U.S. corporate news:

Apple (AAPL 504.30, +6.08) is +1.2% after reports suggested the company may unveil a lower-cost device for the Chinese market at its press event on Tuesday. In addition, FBN Securities raised its target for the stock to $600 from $575.
Crown Castle (CCI 73.84, +3.29) is +4.7% after the company announced its plans to convert to a real estate investment trust.
Quicksilver (ZQK 7.00, +0.15) is +2.2% following an upgrade to 'Outperform' from 'Neutral' at Credit Suisse.

Today's economic data will be limited to the July Consumer Credit report, which will be released at 15:00 ET.

07:00 am : Nikkei...14205.23...+344.40...+2.50%. Hang Seng...22750.65...+129.40...+0.60%.

07:00 am : FTSE...6525.83...-6.60...-0.10%. DAX...8280.09...+4.90...+0.10%.

06:55 am : S&P futures vs fair value: +4.0. Nasdaq futures vs fair value: +12.50.

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage
Market Update


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr