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 Post subject: September 11th Wednesday Trade Results - Profit $615.00
PostPosted: Wed Sep 11, 2013 11:29 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 @ ($10.00) dollars or -0.10 points, Emini ES ($ES_F) futures @ $625.00 dollars or +12.50 points, Light Crude Oil CL ($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 @ $615.00 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=1600

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

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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/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.

Investors Rush To Biggest Bond Deal Ever

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

NEW YORK (CNNMoney)
It's a bond bonanza. Investors are flocking to Verizon's (VZ, Fortune 500) newly issued corporate debt.

The telecom giant announced a record $49 billion bond sale to help fund its purchase of the remaining stake in Verizon Wireless from U.K. telecom Vodafone (VOD).

The Verizon bond sale is the latest sign that major corporations are anxiously anticipating a rise in long-term interest rates and are rushing to sell debt before a potential pullback on bond buying by the Federal Reserve. The Fed will meet next week and could discuss plans to taper the bank's bond buying program.

10-year Treasury yields have been moving higher and are now hovering near 3%, a level they haven't hit since July 2011.

Stocks stalling: After rallying more than 3% over the past five trading days, the S&P 500 moved slightly higher, while the Nasdaq fell modestly.

The Dow Jones Industrial Average added more than 130 points, but that was mainly because shares of IBM (IBM, Fortune 500), the most heavily weighted stock in the average, rose more than 2%.

Traders have pushed markets higher over the past few days as worries about the possibility of U.S.-led military strikes on Syria have receded. It now looks like a diplomatic resolution may be possible after the Syrian government said it would be willing to turn over its chemical weapons.

The iPhone disappoints: Apple (AAPL, Fortune 500) shares fell more than 5%, a day after the company unveiled two new iPhones that were met with a lukewarm reception from analysts. Separately, Apple got the OK to run iPhones on China Mobile's exclusive network, in the latest sign that a deal between Apple and China Mobile (CHL) may be in the works.

Facebook (FB) rallied more than 3% and hit an all-time high of $45.09.

Some traders on StockTwits doubt whether the social media giant can stay at these levels.

lalisandhu: $FB over 45 was a trap today by the big boys

duke2duke: $FB That was exciting, but no cigars. Oh well.. It needs a real catalyst.

Shares of Netflix (NFLX), which have been rallying lately, briefly hit a new all-time high before pulling back. Traders on StockTwits were also skeptical about whether the online video king could hold onto these highs.

conviction_trader2012: $NFLX Volume is very weak today. No buyers stepping in at these levels. It appears to be heading lower. It is on our radar for tomorrow.

Wizardofthecove: $NFLX Greatly overpriced. Now I would like a 3% dividend. Oh, you don't do that.

Nike (NKE, Fortune 500)'s stock also hit an all-time high, one day after it was announced that it would be added to the Dow next week. Goldman Sachs (GS, Fortune 500) and Visa (V, Fortune 500) will also be added to the Dow.

RyanDetrick: Since 1990, 19 stocks added to the $DJIA. 12 months later +3.26% on avg. $GS, $V, $NKE http://stks.co/bi5S

News Corp (NWS). shares rallied after investment firm Southeastern Asset Management disclosed it had a 12% stake in the media company.

Starbucks (SBUX, Fortune 500) shares hit an all-time high as well.

Click here for more on world markets

Both European and Asian markets were mixed.

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4:15 pm : The major averages ended in mixed fashion as the Nasdaq shed 0.1% while the S&P 500 added 0.3% to register its seventh consecutive advance. For its part, the Dow Jones Industrial Average gained 0.9%.

The key indices diverged at the open with the tech-heavy Nasdaq and S&P 500 starting in negative territory due to significant weakness in the largest tech stock. Apple (AAPL 467.71, -26.93) sank 5.4% after the company's overnight product refresh event in China did not reveal a deal with China Mobile (CHL 55.87, -1.53) as many investors had expected. The underperformance of Apple kept the Nasdaq and the technology sector (-0.5%) in the red throughout the day while the S&P was able to shake off the opening weakness.

Rotten price action in the shares of Apple masked the solid gains in many other large tech names. Cisco Systems (CSCO 24.38, +0.22), Oracle (ORCL 33.02, +0.16), Google (GOOG 896.19, +7.52), and Microsoft (MSFT 32.74, +0.35) added between 0.5% and 1.1%.

Meanwhile, the price-weighted Dow was unaffected by Apple as the largest member of the blue chip index, IBM (IBM 190.70, +4.10), gained 2.2% after saying last night it will be selling its lower margin customer care business process outsourcing services business to Synnex for $505 million. Including IBM, 26 of 30 Dow components ended in the green.

Outside of technology, the financial sector (+0.1%) was the only cyclical group that trailed behind the S&P. Citigroup (C 50.73, -0.36) lost 0.7% after reports from Fox Business News indicated the bank plans to lay off 2,200 employees in its mortgage unit.

The broader market was kept afloat by the relative strength of the remaining growth-sensitive sectors. Energy, industrials, materials, and discretionary shares gained between 0.5% and 0.8% with energy and materials in the lead.

The energy sector added 0.8% as crude oil rose 0.3% to $107.72 per barrel. The other commodity-related space, materials, tacked on 0.6%. Gold miners contributed to the relative strength as the Market Vectors Gold Miners ETF (GDX 26.79, +0.22) climbed 0.8%. However, the underlying metal ended little changed at $1364.20 per troy ounce.

Countercyclical sectors have been a bit shaky in recent days, but ended today's session in mixed fashion. Consumer staples (+0.8%) and health care (+0.7%) outperformed while telecom services (unch) and utilities (-0.9%) lagged.

Treasuries jumped to their highs following today's solid $21 billion 10-yr note reopening. The benchmark 10-yr yield ended lower by six basis points at 2.91%.

Participation in today's session was a bit below average as 657 million shares changed hands on the floor of the New York Stock Exchange.

Last evening, President Obama addressed the nation regarding the situation in Syria. Mr. Obama continued to make a case for a targeted military strike against the Middle Eastern country, but indicated the Russian proposal requiring Syria to put its weapons under international control will also be considered.

July wholesale inventories ticked up 0.1% while the Briefing.com consensus expected an increase of 0.2%. Today's report follows last month's unrevised decrease of 0.2%.

Separately, the weekly MBA Mortgage Index fell 13.5% to its lowest level since November 2008. Today's decline was paced by a 20.2% decrease in the refinance index.

Tomorrow, weekly initial claims, August export prices ex-agriculture and import prices ex-oil will all be reported at 8:30 ET. In addition, the Treasury will release its August budget at 14:00 ET.DJ30 +135.54 NASDAQ -4.01 SP500 +5.14 NASDAQ Adv/Vol/Dec 1206/1.63 bln/1295 NYSE Adv/Vol/Dec 1655/656.9 mln/1345

3:30 pm : Oct crude oil fell below the $107.00 per barrel level following inventory data that showed a draw of 0.219 mln barrels when expectations called for a draw of 1.5-2.1 mln barrels. However, the energy component quickly recovered back into positive territory, advancing to a session high of $108.09 per barrel. It pulled back heading into the close and settled at $107.55 per barrel, or 0.1% higher.

Oct natural gas traded mostly in negative territory today. It climbed to a session high of $3.62 per MMBtu in late afternoon action but retreated back into the red and settled 0.3% lower at $3.57 per MMBtu.

Dec gold chopped around slightly below the breakeven line today following President Obama's speech on Syria. The President has put the Congressional vote on an attack on Syria on hold as he seeks a diplomatic solution. The yellow metal brushed a session low of $1359.20 per ounce and settled just 40 cents lower at $1363.60 per ounce.

Dec silver, on the other hand, traded higher, rising to a session high of $23.23 per ounce. It eventually settled 0.7% higher at $23.17 per ounce.DJ30 +102.10 NASDAQ -8.82 SP500 +1.88 NASDAQ Adv/Vol/Dec 1158/1374.2 mln/1336 NYSE Adv/Vol/Dec 1530/417 mln/1470

3:05 pm : The S&P 500 holds a modest gain of 0.2% as today's session enters its final hour. The benchmark index has managed to erase its opening loss thanks to the relative strength of most cyclical sectors. With 60 minutes left before the close, energy, industrials, materials, and discretionary shares are up between 0.3% and 0.6% while financials (-0.1%) and technology (-0.5%) remain in the red.

Overall, the first few September sessions have seen an improvement in trading volume after the end of August treated participants to some of the slowest trading days of the year. Today, however, appears to be a bit of a blast from the not too-distant past as only 385 million shares have changed hands on the floor of the New York Stock Exchange so far. While the market expects to see a volume surge into the close, it appears as though today's session will produce a total below the 50-day average of 662 million.DJ30 +104.23 NASDAQ -6.18 SP500 +2.58 NASDAQ Adv/Vol/Dec 1191/1.26 bln/1284 NYSE Adv/Vol/Dec 1535/388.3 mln/1454

2:35 pm : Recent action saw the major averages continue to trade near their best levels of the day. Including today's 0.2% gain, the S&P 500 is on track to register its seventh consecutive advance. The benchmark average has climbed in every September session so far for a month-to-date gain of 3.3%.

The S&P's September gain is being matched by the Dow while Russell 2000 (+4.4%) and Nasdaq (+3.7%) have fared a bit better.

So far this month, cyclical sectors have outperformed their defensive counterparts. Industrials and materials hold respective September advances of 4.7% and 4.5% while the utilities sector is lower by 1.0% this month.DJ30 +105.09 NASDAQ -5.58 SP500 +3.08 NASDAQ Adv/Vol/Dec 1246/1.15 bln/1239 NYSE Adv/Vol/Dec 1589/351.8 mln/1376

2:05 pm : The Dow and S&P 500 have extended their gains while the Nasdaq continues its climb off the early lows. The discretionary sector provided some leadership to the S&P in early going, but the sector has since surrendered its top spot to energy and materials. The two groups are both up near 0.6%.

Crude oil (+0.5%, $107.89/bbl) has contributed to the strength of the energy sector while materials have received support from miners and steelmakers. The Market Vectors Gold Miners ETF (GDX 26.82, +0.25) is higher by 0.9% and the Market Vectors Steel ETF (SLX 46.02, +0.11) trades up 0.2%.

The underlying metals have not moved much today as copper and gold futures are little changed at their respective $3.26/lb and $1364.30/oz t.DJ30 +107.68 NASDAQ -4.70 SP500 +3.48 NASDAQ Adv/Vol/Dec 1264/1.06 bln/1193 NYSE Adv/Vol/Dec 1642/324.8 mln/1298

1:30 pm : Some peculiar action today that features the outperformance of the Dow and the underperformance of the Nasdaq. As stated earlier, Apple (AAPL 468.89, -25.75) is the bane of the Nasdaq's existence today while IBM (IBM 190.35, +3.75) is the life of the Dow party.

Arguably, the disparate performances of these leading technology names could be connected today with money perhaps rotating out of Apple and into IBM. It should be noted that IBM said last night it will be selling its lower margin customer care business process outsourcing services business to Synnex for $505 mln. That is an encouraging strategic sale for Big Blue, but whether it is worth a $4.0 bln+ jump in market cap is debatable.

Presumably, with lingering sources of uncertainty in Syria, the budget agreement, the debt ceiling, and the nomination of the next Fed chairman, market participants may be taking a "play it safe" route today and are allocating money to highly liquid and generally steady names like the Dow components. On that note, IBM isn't the only mover. 25 of the 30 Dow components are trading higher at the moment.

Separately, the $21 bln 10-yr note reopening went very well, drawing a high yield of 2.946% on a solid bid-to-cover ratio of 2.86 that exceeded the 12-auction average of 2.78. That has helped push the benchmark 10-yr note to its highs for the day. The 10-yr is up 14 ticks and its yield has dropped to 2.92%. DJ30 +91.65 NASDAQ -7.13 SP500 +2.04 NASDAQ Adv/Vol/Dec 1237/953 mln/1188 NYSE Adv/Vol/Dec 1556/294 mln/1411

1:00 pm : At midday, the major averages trade in mixed fashion with the Dow Jones up 0.6% while the Nasdaq trades lower by 0.2%. For its part, the S&P 500 holds a slim gain of 0.1%.

The tech-heavy Nasdaq has been pressured by its largest component. Apple (AAPL 466.23, -28.41) sports a loss of 5.7% after the company's overnight product refresh event in China did not reveal a deal with China Mobile (CHL 55.71, -1.69) as many investors had expected.

Like the Nasdaq, the technology sector (-0.6%) trades in the red, but outside of Apple, most other major components have shown strength. Google (GOOG 894.15, +5.48), Oracle (ORCL 33.14, +0.28), and Microsoft (MSFT 32.85, +0.46) are up between 0.6% and 1.4% and Dow component IBM (IBM 190.55, +3.95) is higher by 2.1%.

Outside of technology, the financial sector (-0.1%) is the only cyclical group trading behind the broader market. Citigroup (C 50.58, -0.52) is lower by 1.0% after reports from Fox Business News indicated the bank plans to lay off 2,200 employees in its mortgage unit.

The remaining four growth-sensitive sectors (consumer discretionary, energy, industrials, and materials) hold gains between 0.2% and 0.5% with the discretionary space posting the largest advance. Home builders have displayed some strength and the iShares Dow Jones US Home Construction ETF (ITB 21.79, +0.14) is higher by 0.6% to extend its week-to-date gain to 4.3%.

Countercyclical sectors have been under pressure as of late, but three of four defensive sectors trade ahead of the broader market today. Consumer staples, health care, and telecom services are all up near 0.5% while the utilities sector lags with a loss of 1.0%.

Last evening, President Obama addressed the nation regarding the situation in Syria. Mr. Obama continued to make a case for a targeted military strike against the Middle Eastern country, but indicated that the Russian proposal requiring Syria to put its weapons under international control will also be considered.

July wholesale inventories ticked up 0.1% while the Briefing.com consensus expected an increase of 0.2%. Today's report follows last month's unrevised decrease of 0.2%.

Separately, the weekly MBA Mortgage Index fell 13.5% to its lowest level since November 2008. Today's decline was paced by a 20.2% decrease in the refinance index.DJ30 +94.15 NASDAQ -6.41 SP500 +2.46 NASDAQ Adv/Vol/Dec 1236/880.9 mln/1193 NYSE Adv/Vol/Dec 1477/271.1 mln/1460

12:30 pm : The Dow (+0.6%) and S&P 500 (+0.1%) continue to hover near their highs while the Nasdaq (-0.2%) remains modestly lower.

Similar to the Nasdaq, the technology sector holds a loss of 0.6%. However, outside of Apple (AAPL 466.42, -28.21), many major components trade in positive territory. Google (GOOG 894.20, +5.53), Oracle (ORCL 33.10, +0.24), and Microsoft (MSFT 32.82, +0.42) are up between 0.6% and 1.3%.

Outside of technology, the financial sector (-0.1%) is the only other cyclical group trading in the red.DJ30 +84.30 NASDAQ -8.62 SP500 +1.35 NASDAQ Adv/Vol/Dec 1224/803.1 mln/1183 NYSE Adv/Vol/Dec 1398/250.1 mln/1498

12:00 pm : Equities have continued their rebound off the opening lows, and the S&P 500 (+0.1%) has now joined the Dow (+0.6%) in positive territory.

The S&P climbed into the green with some help from energy, materials, and industrials. The three sectors now sport gains between 0.2% and 0.4% with the energy sector outperforming. On a related note, crude oil is higher by 0.4% at $107.84 per barrel.

Also of note, the health care sector (+0.6%) has padded its gain, and the countercyclical group now trades ahead of the remaining nine sectors.

Treasuries remain near their lows after surrendering their modest early gains. The benchmark 10-yr yield is lower by one basis point at 2.96%.DJ30 +80.26 NASDAQ -11.17 SP500 +0.86 NASDAQ Adv/Vol/Dec 1151/731.3 mln/1236 NYSE Adv/Vol/Dec 1342/229.6 mln/1549

11:30 am : Recent action saw the Dow (+0.4%) climb to a fresh high while the S&P 500 (-0.1%) continues to hold a modest loss.

Consumer discretionary (+0.3%), consumer staples (+0.3%), health care (+0.4%), and telecom services (+0.3%) are the only four sectors trading in positive territory. However, this could change in the near-term as energy, industrials, and materials hover just below their respective flat lines.

The commodity-related sectors have displayed strength during the first two sessions of the week with upbeat economic data from China providing support. The Market Vectors Steel ETF (SLX 45.64, -0.27) is lower by 0.6% after gaining 4.8% during the past two days.DJ30 +65.20 NASDAQ -12.84 SP500 -1.66 NASDAQ Adv/Vol/Dec 1087/636.1 mln/1268 NYSE Adv/Vol/Dec 1272/200.4 mln/1616

10:55 am : The major averages trade in mixed fashion as the Nasdaq and S&P 500 remain pressured by Apple (AAPL 465.78, -28.85) while the Dow Jones Industrial Average trades higher by 0.3%.

The price-weighted Dow has received support from some of its top components as 3M (MMM 117.81, +0.22), Chevron (CVX 123.35, +0.34), IBM (IBM 189.40, +2.80), and United Technologies (UTX 106.54, +0.28) hold gains between 0.2% and 1.5%.

With regard to individual sectors, consumer discretionary, consumer staples, health care, and telecom services are up between 0.1% and 0.3% while the remaining six groups hover in the red.

Treasuries have erased most of their gains and the benchmark 10-yr yield is now lower by just one basis point at 2.96%.DJ30 +43.50 NASDAQ -21.18 SP500 -3.96 NASDAQ Adv/Vol/Dec 880/501.6 mln/1447 NYSE Adv/Vol/Dec 1046/163.1 mln/1801

10:35 am : Commodities are largely mixed this morning, while the dollar index is in the red and near its LoD.

Crude oil was in the red overnight on developments in Syria. However, those losses quickly reversed and crude oil (Oct contract) rose over $1/barrel overnight to $108.00/barrel from $106.94. The volatility continued as crude fell back into the red after hitting $108/barrel.

Just ahead of the weekly EIA inventory data, Oct crude oil was flat at $107.45/barrel. Following the data, crude oil dropped below $107 and is now -0.2% at $107.20/barrel.

Natural gas prices have been in the red this morning and just sold off to a new LoD. In current action, Oct natural gas is -1.4% at $3.53/MMBtu.

Precious metals are mixed with gold in the red and silver trading higher. Dec gold is now -0.2% at $1361.30/oz, while Dec silver is +0.5% at $23.13/oz.
DJ30 +36.94 NASDAQ -21.97 SP500 -4.37 NASDAQ Adv/Vol/Dec 814/415.9 mln/1452 NYSE Adv/Vol/Dec 1015/138 mln/1828

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

July wholesale inventories ticked up 0.1% while the Briefing.com consensus expected an increase of 0.2%. Today's report follows last month's unrevised decrease of 0.2%.DJ30 +42.31 NASDAQ -17.99 SP500 -2.90 NASDAQ Adv/Vol/Dec 802/255.8 mln/1387 NYSE Adv/Vol/Dec 1084/95.2 mln/1681

09:40 am : The major averages began the session in negative territory with the tech-heavy Nasdaq (-0.3%) leading to the downside as Apple (AAPL 471.49, -23.15) trades lower by 4.7% after the company's overnight press event in China was met with investor disappointment.

Apple also weighs on the technology sector, which trades lower by 0.8%. Meanwhile, the remaining five cyclical groups trade with modest gains between 0.1% and 0.3%.

Countercyclical groups trade in mixed fashion as utilities (-0.9%) lag while consumer staples, health care, and telecom services are little changed.

Treasuries hold modest gains as the benchmark 10-yr note trades higher by seven ticks with its yield down three basis points at 2.94%.

July wholesale inventories will be reported at 10:00 ET.DJ30 +30.64 NASDAQ -11.01 SP500 -0.89 NASDAQ Adv/Vol/Dec 905/113.8 mln/1116 NYSE Adv/Vol/Dec 1330/57.7 mln/1331

09:12 am : [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: -17.00. Today's session is poised to begin in negative territory as Apple (AAPL 472.80, -21.84) weighs on Nasdaq and S&P futures after the overnight event in China was met with disappointment from investors who expected the company to announce a partnership with a Chinese carrier.

Also last night, President Obama addressed the nation regarding the situation in Syria. Mr. Obama continued to make a case for a targeted military strike against the Middle Eastern country, but indicated the Russian proposal requiring Syria to put its weapons under international control will also be considered. Crude oil climbed overnight, but currently trades flat at $107.33 per barrel. Meanwhile Treasuries hold modest gains with the benchmark 10-yr yield down two basis points at 2.95%.

This morning's economic data was limited to the weekly MBA Mortgage Index, which remained in a downtrend with its 13.5% decline. Today's data will be topped off with the July wholesale inventories report, which will be released at 10:00 ET.

08:56 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -15.00. The S&P 500 futures trade lower by 0.1%.

Markets across Asia finished little changed amid a quiet trade. The region's bourses failed to see any real reaction to news that President Obama has put the Congressional vote on a conflict in Syria on hold as he seeks a diplomatic solution. Comments from Chinese Premier Li Keqiang covered a wide spectrum as he suggested municipal debt is under control and that China will look to gradually make the yuan convertible. Data from the region was light with Malaysia's industrial production posting a sharp 7.6% year-over-year increase (5.8% expected).

Japan's Nikkei closed unchanged after an early bid ran the index to its best level in seven weeks. Exporters posted solid gains as Komatsu added 2.7% and Fuji Heavy Industries tacked on 2.6%.
In Hong Kong, the Hang Seng slipped 0.2% as trade posted its first loss in five days. iPhone assembler FIH Mobile sank 4.8% as the Apple event in China was largely disappointing.
China's Shanghai Composite added 0.2% as shares climbed for a fourth day. Materials stocks were strong with aluminum maker Chalco surging the limit, 10%. Meanwhile, shares of China Mobile slid 1.4% after the company failed to announce a deal to carry Apple's iPhone.

Major European indices trade in mixed fashion with Italy's MIB (+1.0%) and Spain's IBEX (+0.8%) leading the way. The Italian Senate committee tasked with determining the political future of PDL leader Silvio Berlusconi has postponed its debate to Thursday. Also of note, European Central Bank member Luc Coene said, "It's clear that we are not at the end of the Greek problem for the moment" and that the country will need more help at least once more. Participants received a moderate amount of data. Germany's CPI was unchanged month-over-month while the year-over-year reading came in at 1.5%, as expected. France reported a current account deficit of EUR3.20 billion (-EUR1.70 billion expected, -EUR1.80 billion prior) while nonfarm payrolls declined 0.2% quarter-over-quarter (-0.2% expected, -0.2% prior). Great Britain's average earnings ex-bonus ticked up 1.0% (1.0% expected, 1.1% previous) while average earnings index + bonus increased 1.1% (1.2% forecast, 2.2% prior). In addition, the claimant count change came in at -32.6K (-22.0K expected, -36.3K last) and the unemployment rate ticked down to 7.7% from 7.8% (7.8% expected). Lastly, the CB Leading Index rose 0.7% month-over-month (-0.3% prior).

Great Britain's FTSE is lower by 0.1% as financials lag. Admiral Group, Lloyds Banking Group, and Standard Chartered are all down between 2.0% and 4.7%. On the upside, ARM Holdings trades up 5.2% after Apple said its newest devices use processors provided by ARM.
France's CAC holds a loss of 0.1% as technology companies weigh. Gemalto and STMicroelectronics are lower by 4.8% and 1.0%, respectively. Utilities have displayed strength as Electricite de France, GDF Suez, and Veolia Environnement sport gains between 0.9% and 2.9%.
In Germany, the DAX is higher by 0.5% with financials among the leaders. Commerzbank and Deutsche Bank hold respective gains of 3.6% and 1.2%.
Elesewhere, Italy's MIB (+1.0%) and Spain's IBEX (+0.8%) have received support from bank shares.

08:31 am : [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -15.80. U.S. equity futures have been under pressure throughout the morning as the largest Nasdaq component, Apple (AAPL 475.30, -19.34), trades lower by 3.9% following an overnight press event in China. Contrary to speculation, the company did not announce an agreement with China Mobile, and that has weighed on the shares this morning. In addition, downgrades from Bank of America/Merrill Lynch, Credit Suisse, and UBS have also contributed to the weakness.

Apple weakness has pressured Nasdaq futures (-0.4%) while futures on the S&P 500 (-0.1%) hold a slim loss and Dow futures trade flat.

This morning's economic data was limited to the weekly MBA Mortgage Index, which remained in a downtrend with a 13.5% decline. Today's data will be topped off with the July wholesale inventories report, which will be released at 10:00 ET.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: -2.40. Nasdaq futures vs fair value: -15.50. U.S. equity futures hover near their lows despite generally upbeat overseas trade. The S&P 500 futures are lower by 0.1% while Nasdaq futures trade down 0.4% as Apple (AAPL 476.80, -17.84) weighs. The largest tech stock trades lower by 3.6% after the company's product refresh event did not reveal a deal with China Mobile, as many investors had expected. The stock was also downgraded to 'Neutral' at Bank of America/Merrill Lynch, Credit Suisse, and UBS.

Last evening, President Obama addressed the nation regarding the situation in Syria. Mr. Obama continued to make a case for a targeted military strike against the Middle Eastern country, but indicated the Russian proposal requiring Syria to put its weapons under international control will also be considered.

Looking at overnight developments:

Asian markets ended in mixed fashion. Hong Kong's Hang Seng -0.2%, China's Shanghai Composite +0.2%, and Japan's Nikkei settled flat.
In regional economic data:
Japan's CGPI ticked up 0.3% month-over-month (0.4% expected, 0.5% prior) while the year-over-year reading rose 2.4%, as expected. In addition, the BSI Large Manufacturing Conditions improved to 15.2 from 5.0 (7.2 consensus).
South Korea's unemployment rate ticked down to 3.1% from 3.2% (3.2% last).
Australia's Westpac Consumer Sentiment came in at 4.7% (3.5% previous).
In news:
North and South Korea have agreed to reopen the jointly-operated Kaesong Industrial Complex this Monday.

Major European indices are mixed. Great Britain's FTSE -0.1%, Germany's DAX +0.5%, and France's CAC is flat.
Participants received a moderate amount of data:
Germany's CPI was unchanged month-over-month while the year-over-year reading came in at 1.5%, as expected.
France reported a current account deficit of EUR3.20 billion (-EUR1.70 billion expected, -EUR1.80 billion prior) while nonfarm payrolls declined 0.2% quarter-over-quarter (-0.2% expected, -0.2% prior).
Great Britain's average earnings ex-bonus ticked up 1.0% (1.0% expected, 1.1% previous) while average earnings index + bonus increased 1.1% (1.2% forecast, 2.2% prior). In addition, the claimant count change came in at -32.6K (-22.0K expected, -36.3K last) and the unemployment rate ticked down to 7.7% from 7.8% (7.8% expected). Lastly, the CB Leading Index rose 0.7% month-over-month (-0.3% prior).
Looking at news:
The Italian Senate committee tasked with determining the political future of PDL leader Silvio Berlusconi has postponed its debate to Thursday.
European Central Bank member Luc Coene said, "It's clear that we are not at the end of the Greek problem for the moment" and that the country will need more help at least once.

In U.S. corporate news:

Restoration Hardware (RH 74.30, -1.76) is -2.3% despite reporting a bottom-line beat on in-line revenue.

The weekly MBA Mortgage Index continued its recent downtrend, falling 13.5% to follow last week's uptick of 1.3%. In addition, the refinance index tumbled 20.2%.

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

06:56 am : [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: -8.00.

06:56 am : Nikkei...14425.07...+1.70...0.00. Hang Seng...22937.14...-39.50...-0.20%.

06:56 am : FTSE...6580.00...-4.00...-0.10%. DAX...8490.88...+44.20...+0.50%.

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

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