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 Post subject: September 25th Wednesday Trade Results - Profit $990.00
PostPosted: Wed Sep 25, 2013 11:34 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($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 @ $240.00 dollars or +2.40 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $990.00 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=1610

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.

Stocks Fall For Fifth Straight Day

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

NEW YORK (CNNMoney)
Stocks hit all-time highs just a week ago, but concerns over developments in Washington have kept the market from climbing much higher.

The Dow Jones Industrial Average, S&P 500 and Nasdaq closed lower Wednesday, making it a five-day losing streak for stocks.

Most global stock indexes ended in the red as well.

There are concerns that Congress will be unable to adequately deal with the country's debt ceiling woes, which means the government risks defaulting on its debt next month. Treasury Secretary Jack Lew warned Tuesday that Wall Street should take the looming debt limit more seriously and wrote in a letter to Congress Wednesday that the debt ceiling would be reached no later than October 17.

Investors also considered the possibility that the U.S. government might shut down on Oct. 1, which could hit economic growth.

On the economic front, durable goods orders rose more than expected in in August. And new home sales rose at a faster clip than anticipated last month.

What's moving: Shares of Yahoo (YHOO, Fortune 500) edged slightly higher on reports that Chinese Internet company Alibaba is moving forward with an initial public offering in New York. Yahoo is one of Alibaba's top shareholders. Yahoo's stock has surged this year due to speculation about an Alibaba IPO as well as investor enthusiasm for the turnaround strategy of CEO Marissa Mayer.

It's another bad day for J.C. Penney (JCP, Fortune 500). The stock hit a 13-year low as investors grow increasingly concerned about the future of the iconic American retailer. Several analysts are predicting that it did not have a good back to school shopping season, and that sales continued to plummet in late August and early September.

Investors had already been spooked by reports that J.C. Penney might be seeking to raise more cash through the sale of new stock or bonds. "$JCP This is like the sinking titanic, the ship has already cracked in half and is going vertically down now," StockTwits trader win2betmore wrote.

But some were more optimistic about the holiday season ahead: "$JCP will be the biggest turnaround story in history," wrote leofig123.

Going the opposite direction, Facebook (FB) stock continued to flirt with the $50 level, rising more than 2% after a 4% jump to a new all-time high on Tuesday.

"If today's open in the green isn't enough to convince you a shooting star in $FB only takes out the nervous traders, nothing will," duke2duke wrote.

Another trader was wondering when the stock might finally top $50.

"$FB like a time bomb.. tick tock.. buyers better assert themselves SOON here," wrote financialtrader.

BlackBerry (BBRY) shares fell another 6%, still reeling from its announcement earlier this week that its largest shareholder, Fairfax Financial, was leading a group to acquire the troubled company for $9 a share.

Shares of Carniva (CCL)l also dropped another 5%. The cruise company's stock plunged on Tuesday as well after reporting dismal earnings and a weak outlook.

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4:10 pm : The S&P 500 shed 0.3%, extending its losing streak to five sessions. Including today's decline, the benchmark index has surrendered 1.9% since last Thursday.

Stocks endured a sloppy session as the S&P made two unsuccessful attempts at holding the 1,700 level. After opening just above its flat line, the S&P 500 slipped into the red before recovering swiftly with the help of energy (-0.1%) and materials (+0.2%). The financial sector (+0.5%) also fueled this morning's rebound after losing roughly 3.5% during the past four sessions.

The morning recovery placed the S&P above 1,700, but the index could not muster additional strength as consumer staples (-0.8%), health care (-0.8%), technology (-0.3%), and utilities (-0.7%) weighed. The underperformance of these groups briefly pressured the S&P back to its flat line. This retreat was followed by another run to 1,700, but the index slid from this level back to lows after a report from Bloomberg indicated Wal-Mart (WMT 74.65, -1.10) is cutting its orders amid a pile-up in inventories.

Concerns about lackluster sales at the largest retailer were received as a warning regarding the well-being of the broader sector, causing other retailers like Costco (COST 115.41, -0.93), Dollar General (DG 57.00, -1.11), and Target (TGT 63.24, -0.67) to slump to their lows. The affected names were able to regain a portion of their losses after CNBC cited a Wal-Mart official who described the headlines as misleading.

Afternoon action saw the S&P climb off its lows, but the index was unable to regain its flat line.

Commodities ended in mixed fashion as energy fell and metals displayed strength. Crude oil fell 0.8% to $102.31 per barrel while gold added 1.3%, ending at $1333.50 per troy ounce.

Treasuries saw steady demand throughout the session, and the benchmark 10-yr yield fell four basis points to 2.62%.

With the debt ceiling looming, Secretary of Treasury Jack Lew was quoted as saying the spending limit will be reached no later than October 17. The Congressional Budget Office also provided an estimate, expecting the spending ability to be exhausted between October 22 and the end of the month.

Trading volume was below average as 641 million shares changed hands on the floor of the NYSE.

In today's economic data, durable orders increased 0.1% after declining a downwardly revised 8.1% in July. The Briefing.com consensus estimate called for a 0.5% increase. Excluding transportation, durable orders declined 0.1% (+0.9% consensus) following an upwardly revised decline of 0.5% for July. Notwithstanding the headline disappointment, there were some encouraging elements to the report like the 0.9% increase in new orders for machinery, the 2.4% jump in new orders for motor vehicles and parts, and positive business investment data. New home sales managed a modest rebound in August. Sales rose from a downwardly revised 390,000 in July to 421,000 in August. The Briefing.com consensus expected new home sales to increase to 415,000. Even after the uptick, sales were at their second lowest level since December 2012.

New home sales represent the number of newly signed contracts and are much more responsive to changes in interest rates than the existing home sales data. The initial increase in mortgage rates caused a brief spike in sales in June as buyers rushed in to take advantage of relatively low rates before they went higher. That caused a large "payback" period to develop in July where sales fell 14%. The weak rebound in August suggests that buyers are not comfortable at current mortgage rates.

Separately, the MBA Mortgage Index rose 5.5%, posting its second consecutive increase.

Tomorrow, weekly initial claims and the third estimate of second quarter GDP will be reported at 8:30 ET while August pending home sales will be announced at 10:00 ET.DJ30 -61.33 NASDAQ -7.16 SP500 -4.65 NASDAQ Adv/Vol/Dec 1173/1.77 bln/1314 NYSE Adv/Vol/Dec 1534/641.3 mln/1476

3:35 pm : Commodities ended the day mixed. Gold, silver and copper all rose today and are all still higher in electronic trade and sitting just under the high's for the day.

In the energy space, crude oil and natural gas futures are on the other end. Crude oil has been sliding lower all session (pit trading session) and is now sitting right at its session low, one in which was just hit a few minutes ago. Natural gas is now flat and is just above its LoD

Precious metals rallied this morning and held its gains for the day. Dec gold rose $19.40/oz in today's pit trading session and ended the day at $1336.10/oz. Dec silver rose $0.32 to $21.90/oz.

Nov crude oil fell $0.47 to $102.64/barrel, while Oct nat gas rose 6 cents to $3.55/MMBtu during today's pit trading session.
DJ30 -51.50 NASDAQ -2.83 SP500 -2.79 NASDAQ Adv/Vol/Dec 1250/1536.8 mln/1262 NYSE Adv/Vol/Dec 1545/425 mln/1437

3:00 pm : The S&P 500 trades lower by 0.1% as today's session heads into the final hour. Although the benchmark index has spent some time in positive territory today, the current loss puts the S&P on track to register its fifth consecutive decline. That would represent the longest losing streak of the year.

Energy (+0.3%), financials (+0.6%), and materials (+0.4%) have outperformed throughout the day, and the three are the only remaining advancers. Meanwhile, the remaining seven sectors hold losses between 0.1% and 0.7% with consumer staples leading to the downside.

Treasuries continue to hold modest gains with the benchmark 10-yr yield down four basis points at 2.62%.DJ30 -34.90 NASDAQ -1.90 SP500 -1.69 NASDAQ Adv/Vol/Dec 1315/1.36 bln/1170 NYSE Adv/Vol/Dec 1578/375.3 mln/1409

2:30 pm : The S&P 500 has had a difficult time holding above the 1,700 level today. After slipping into the red during the opening hour, the S&P staged a rebound with energy (+0.2%), financials (+0.4%), and materials (+0.4%) pacing the recovery. The index then stalled just above 1,700 and held there for about an hour before returning to its flat line.

The S&P followed that retreat with another climb to 1,700 before Bloomberg reports focused on an inventory pile-up at Wal-Mart (WMT 74.69, -1.06) pressured the broader market back into negative territory.

Interestingly, despite the choppy action in the S&P, the Russell 2000 (+0.1%) has remained in positive territory throughout the afternoon.DJ30 -41.23 NASDAQ -1.08 SP500 -1.74 NASDAQ Adv/Vol/Dec 1345/1.26 bln/1149 NYSE Adv/Vol/Dec 1567/348.2 mln/1386

2:00 pm : Recent action saw the major averages slide to lows after Bloomberg reported that Wal-Mart (WMT 74.68, -1.07) is lowering its orders from suppliers amid an inventory pile-up. Concerns about sales at the largest retailer were received as a warning regarding the well-being of the broader sector and caused other retailers like Costco (COST 115.26, -1.08), Dollar Tree (DLTR 57.22, -0.92), and Target (TGT 63.30, -0.58) to slump to their lows. The broader SPDR S&P Retail ETF (XRT 81.85, -0.40) is lower by 0.5%.

The CBOE Volatility Index (VIX 14.20, +0.12) has alternated between gains and losses today, and it currently trades near the middle of its range.DJ30 -53.85 NASDAQ -1.90 SP500 -2.85 NASDAQ Adv/Vol/Dec 1343/1.18 bln/1142 NYSE Adv/Vol/Dec 1569/319.5 mln/1387

1:30 pm : It has been another sloppy day of trading so far as participants have struggled to get a handle on things. The S&P 500 has declined for four straight sessions, which has fed an assumption that it is due for another of its patented buy-the-dip rallies. That has kept sellers at bay.

At the same time, there hasn't been a convincing move to buy the dip, so buyers are holding back on the sense that perhaps the broader market is due for a more extended period of consolidation after rallying as much as 6% at its high this month.

The recent struggles of the stock market have provided a measure of support to the Treasury market, which is gaining ground again today. The benchmark 10-yr note is up five ticks and its yield has dropped to 2.64%. It showed limited reaction to the news that the $35 bln 5-year note auction drew a high yield of 1.436% on a bid-to-cover ratio of 2.67x that was just shy of the 12-auction average.DJ30 -37.79 NASDAQ -0.48 SP500 -1.80 NASDAQ Adv/Vol/Dec 1420/1.08 bln/1048 NYSE Adv/Vol/Dec 1665/290 mln/1271

12:55 pm : With the first half of the session in the rear-view mirror, the major averages are little changed. The Dow is lower by 0.1%; the Nasdaq outperforms with a gain of 0.2% and the S&P 500 trades flat.

The benchmark index slipped shortly after the open, but recovered with help from a handful of cyclical sectors. However, after the rally stalled at the 1,700 level, the index returned to its flat line.

The rebound off the morning lows was fueled by three cyclical sectors with financials paving the way. JPMorgan Chase (JPM 51.30, +0.98) is the top performer among the majors while the broader sector sports a gain of 0.5% after losing about 3.5% over the course of the past four sessions.

Energy and materials have also contributed to the rebound as the two sectors hold midday gains of 0.2% and 0.7%, respectively. The energy sector remains in positive territory even with crude oil trading lower by 0.3% at $102.82 per barrel.

Elsewhere, the materials space outperforms as miners and steelmakers rally. The Market Vectors Gold Miners ETF (GDX 25.91, +0.83) trades up 3.3% and the Market Vectors Steel ETF (SLX 45.94, +0.20) holds an advance of 0.4%.

The underperformance of consumer staples, health care, technology, and discretionary shares has kept the S&P from maintaining its session high. The four sectors hold midday losses between 0.1% and 0.4% with health care leading to the downside.

Treasuries hold modest gains with the benchmark 10-yr yield down two basis points at 2.64%.

In today's economic data, durable orders increased 0.1% after declining a downwardly revised 8.1% in July. The Briefing.com consensus estimate called for a 0.5% increase. Excluding transportation, durable orders declined 0.1% (+0.9% consensus) following an upwardly revised decline of 0.5% for July. Notwithstanding the headline disappointment, there were some encouraging elements to the report like the 0.9% increase in new orders for machinery, the 2.4% jump in new orders for motor vehicles and parts, and positive business investment data.

New home sales managed a modest rebound in August. Sales rose from a downwardly revised 390,000 in July to 421,000 in August. The Briefing.com consensus expected new home sales to increase to 415,000. Even after the uptick, sales were at their second lowest level since December 2012. New home sales represent the number of newly signed contracts and are much more responsive to changes in interest rates than the existing home sales data. The initial increase in mortgage rates caused a brief spike in sales in June as buyers rushed in to take advantage of relatively low rates before they went higher. That caused a large "payback" period to develop in July where sales fell 14%. The weak rebound in August suggests that buyers are not comfortable at current mortgage rates.

Separately, the MBA Mortgage Index rose 5.5%, posting its second consecutive increase.DJ30 -15.44 NASDAQ +8.82 SP500 +0.42 NASDAQ Adv/Vol/Dec 1591/979.2 mln/870 NYSE Adv/Vol/Dec 1783/263.8 mln/1142

12:30 pm : The S&P 500 has returned to its flat line after being unable to hold the 1,700 level. The Russell 2000 also took a step back from its best level of the day, but continues to trade higher by 0.5%.

Financials (+0.5%) and materials (+0.5%) remain in the lead, but the recent retreat in consumer discretionary (-0.2%), consumer staples (-0.4%), and health care (-0.5%) pulled the S&P back into the red.

Meanwhile, Treasuries continue to hover near their highs with the benchmark 10-yr yield down two basis points at 2.64%.DJ30 -20.23 NASDAQ +6.06 SP500 +0.26 NASDAQ Adv/Vol/Dec 1525/898.2 mln/918 NYSE Adv/Vol/Dec 1755/245.2 mln/1162

11:55 am : The major averages continue to hold their recent levels as eight of ten sectors trade in positive territory. Only three countercyclical sectors (consumer staples, health care, and utilities) remain in the red, but their losses have been limited to no more than 0.2%.

Financials (+0.8%) remain atop the leaderboard with materials (+0.6%) and energy (+0.4%) following not too far behind. Both sectors have been bolstered by the gains in underlying commodities as crude oil trades higher by 0.3% at $103.44 per barrel and gold futures trade up 1.5% at $1335.50 per troy ounce.DJ30 +30.70 NASDAQ +12.86 SP500 +3.98 NASDAQ Adv/Vol/Dec 1626/779.9 mln/806 NYSE Adv/Vol/Dec 1884/213.6 mln/1005

11:30 am : The Dow, Nasdaq, and S&P 500 have climbed to fresh highs. The three indices hold modest gains of no more than 0.3% apiece while small caps outperform with the Russell 2000 up 0.5%.

Yesterday, the small cap index traded ahead of the S&P throughout the day and settled in positive territory even as the three major averages posted losses. The Russell was on track to register a fresh record close, but afternoon selling pressured the index back below its September 18 closing high of 1,076.97. Today, the Russell has once again climbed past its record high and will look to end today's session at a new record.DJ30 +35.55 NASDAQ +9.51 SP500 +3.30 NASDAQ Adv/Vol/Dec 1515/684.2 mln/878 NYSE Adv/Vol/Dec 1771/188.2 mln/1106

11:00 am : The major averages have climbed off their early lows, but a handful of defensive sectors continue to weigh on the broader market. Consumer staples, health care, and utilities are down between 0.2% and 0.4%. In addition, two cyclical sectors remain in the red as technology and discretionary shares hold respective losses of 0.1% and 0.2%.

Meanwhile, energy (+0.2%), materials (+0.4%), and financials (+0.5%) have fueled the rebound. Notably, the financial sector is in the lead after surrendering about 3.5% over the past four sessions.

Treasuries trade modestly higher with the benchmark 10-yr yield off one basis point at 2.64%.DJ30 +6.33 NASDAQ +1.30 SP500 -0.38 NASDAQ Adv/Vol/Dec 1339/558.7 mln/1008 NYSE Adv/Vol/Dec 1543/156.4 mln/1275

10:30 am : Commodities are mostly higher this morning, while the dollar has is down in the red.

Nov crude oil futures have been in positive territory all morning so far and rose as high as $103.96/barrel. Oil pulled back in recent trade ahead of the weekly EIA inventory data. And following the data, crude oil extended losses and is now +0.1% at $103.26/barrel.

Natural gas has been in positive territory all day so far and is now near the middle of the day's range. Oct nat gas is now +0.5% at $3.51/MMBtu.

Precious metals gained some buying interest just before floor trading opened and have remained in positive territory since. In current action, Dec gold is +0.7% at $1325.00/oz, while Dec silver is +0.8% at $21.77/oz.DJ30 -7.70 NASDAQ -3.27 SP500 -1.40 NASDAQ Adv/Vol/Dec 1196/426.0 mln/1079 NYSE Adv/Vol/Dec 1454/125 mln/1315

10:00 am : The S&P 500 continues to trade lower by 0.1%.

August new home sales hit an annualized rate of 421,000, which was up from the July rate of 390,000, and better than the rate of 415,000 that had been broadly expected by the Briefing.com consensus.

The iShares Dow Jones US Home Construction ETF (ITB 22.62, -0.04) ticked up in reaction to the report.DJ30 -17.02 NASDAQ -7.55 SP500 -2.04 NASDAQ Adv/Vol/Dec 1039/267.7 mln/1144 NYSE Adv/Vol/Dec 1321/85.8 mln/1382

09:45 am : The major averages began the session in positive territory before slipping into the red. The S&P 500 trades lower by 0.1% as six of ten sectors hover in negative territory. The consumer discretionary (-0.4%) sector is the weakest performer with financials (-0.2%) not far behind.

The financial sector has been a notable laggard in recent days. Including its opening slip, the sector has surrendered more than 3.5% since last Thursday.

On the upside, energy (+0.3%) and materials (+0.1%) hold modest gains.

Participants will be on a look-out for headlines from Washington throughout the day after Secretary of Treasury Jack Lew said earlier that the debt limit will be reached no later than October 17.

August new home sales will be reported at 10:00 ET.DJ30 -8.09 NASDAQ -1.56 SP500 -1.09 NASDAQ Adv/Vol/Dec 960/141.5 mln/1085 NYSE Adv/Vol/Dec 1335/54.4 mln/1290

09:14 am : [BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +7.00. The major averages are poised to begin today's session near their respective flat lines and the S&P 500 will look to snap its streak of four consecutive losses. Overnight action did not generate many headlines but one item of note came out of Greece where the Deputy CEO of Piraeus Bank told CNBC that non-performing loans are on the rise and the bank will likely need additional loss provisions this quarter. This served as a reminder that the situation in Greece remains far from stable and with the German election in the rear-view mirror, additional bailouts for the struggling sovereign are not out of the question.

In today's economic data, durable orders increased 0.1% after declining a downwardly revised 8.1% in July. The Briefing.com consensus estimate called for a 0.5% increase. Excluding transportation, durable orders declined 0.1% (+0.9% consensus) following an upwardly revised decline of 0.5% for July. Notwithstanding the headline disappointment, there were some encouraging elements to the report like the 0.9% increase in new orders for machinery, the 2.4% jump in new orders for motor vehicles and parts, and positive business investment data.

Also of note, the MBA Mortgage Index rose 5.5%, posting its second consecutive increase.

August new home sales will be reported at 10:00 ET.

08:58 am : [BRIEFING.COM] S&P futures vs fair value: +1.90. Nasdaq futures vs fair value: +6.70. The S&P 500 futures hover near their flat line.

Asian markets ended on a mixed note. Japan's Nikkei (-0.8%) was among the laggards while Hong Kong's Hang Seng outperformed (+0.1%). China's Shanghai Composite shed 0.4% as the 2-week SHIBOR rate continued to climb (+38 bps to 5.18%) while shorter and longer rates retreated. Elsewhere, Australia's ASX displayed relative strength (+0.8%) after the Reserve Bank of Australia released its semi-annual Financial Stability Review Report, which said the banking system is in 'strong shape.' Regional economic data was limited as Japan's CSPI increased 0.6% year-over-year (0.5% expected, 0.6% previous) and New Zealand's trade deficit widened to $1.19 billion from $774 million ($743 million expected).

Japan's Nikkei closed lower by 0.8% as growth-sensitive names weighed. Furakawa lost 6.0% and Nisshin Steel Holdings tumbled 6.7%. Tokyo Electron outperformed with a gain of 13.2% after Applied Materials agreed to buy the company for $9.39 billion.
In Hong Kong, the Hang Seng added 0.1% with gaming and telecom names displaying strength. China Mobile added 0.7% and Sands China rose 1.8%. On the downside, China Coal Energy lost 3.3%.
China's Shanghai Composite slipped 0.4% with financials leading to the downside. Heavyweight China Vanke lost 2.2%.

Major European indices have spent the bulk of the session in negative territory. In news of note, non-performing loans at Greek Piraeus Bank are on the rise and additional loss provisions may be necessary this quarter. Economic data was limited to a handful of releases. Germany's GfK Consumer Climate ticked up to 7.1 from 7.0 (7.0 expected). Great Britain's CBI Distributive Trades Survey rose to 34 from 27 (24 consensus).The French Business Survey slipped to 97 from 98 (99 expected). Italian consumer confidence improved to 101.1 from 98.4 (98.5 forecast). Lastly, Spain's PPI slipped 0.1% year-over-year (0.5% consensus, 0.8% last).

Germany's DAX is off 0.2% as financials lag. Commerzbank and Muenchener Re are down 5.4% and 1.2%, respectively. ThyssenKrupp outperforms with a gain of 4.1% after receiving permission to ease the terms of its loan deals.
In France, the CAC holds a loss of 0.3%. Consumer names lead to the downside with Kering and LVMH Moet Hennessy trading lower by 0.7% and 1.5%, respectively. Telecom carrier Orange is the top performer, up 2.7%.
In Great Britain, the FTSE is lower by 0.3%. Carnival holds a loss of 6.2% after receiving a series of downgrades. Meanwhile, financials are among the leaders. Barclays and Royal Bank of Scotland hold respective gains of 1.5% and 2.6%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: +0.70. The S&P 500 futures trade lower by 0.2%.

August durable goods orders ticked up 0.1%, which was worse than the 0.5% increase that had been expected among economists polled by Briefing.com. This comes after the prior month's reading reflected a decrease of 8.1%. Excluding transportation, durable orders decreased 0.1% to follow the prior month's revised downtick of 0.5%.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +1.00. U.S. equity futures hold modest losses amid cautious overseas action. The S&P 500 futures trade lower by 0.1%.

Looking at overnight developments:

Asian markets ended mixed. Japan's Nikkei -0.8%, China's Shanghai Composite -0.4%, and Hong Kong's Hang Seng +0.1%.
In regional economic data:
Japan's CSPI increased 0.6% year-over-year (0.5% expected, 0.6% previous).
New Zealand's trade deficit widened to $1.19 billion from $774 million ($743 million expected).
Looking at news:
In China, the 2-week Shanghai Interbank Offered Rate (SHIBOR) continued its rise, climbing 38 basis points to 5.18%. Meanwhile, the remaining rates (overnight, 1-week, 1-month, 3-month) eased.
The Reserve Bank of Australia released its semi-annual Financial Stability Review Report, which said the banking system is in 'strong shape.'

Major European indices hover near their lows. Germany's DAX -0.3%, France's CAC -0.4%, and Great Britain's FTSE -0.5%.
Economic data was limited:
Germany's GfK Consumer Climate ticked up to 7.1 from 7.0 (7.0 expected).
Great Britain's CBI Distributive Trades Survey rose to 34 from 27 (24 consensus).
The French Business Survey slipped to 97 from 98 (99 expected).
Italian consumer confidence improved to 101.1 from 98.4 (98.5 forecast).
Spain's PPI slipped 0.1% year-over-year (0.5% consensus, 0.8% last).
In news:
According to CNBC reports, non-performing loans at Greek Piraeus Bank are on the rise and additional loss provisions may be necessary this quarter.

In U.S. corporate news:

AutoZone (AZO 414.00, -0.31) is little changed after beating on earnings.
Carnival (CCL 32.92, -1.62) is -4.7% after receiving downgrades from Bank of America/Merrill Lynch, Morgan Stanley, and Natixis.

The weekly MBA Mortgage Index increased 5.5% to follow last week's 11.2% rise.

August durable orders will be released at 8:30 ET and August new home sales will cross at 10:00 ET.

The U.S. Treasury will auction $35 billion in 5-yr notes.

06:54 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -0.50.

06:54 am : Nikkei...14620.53...-112.10...-0.80%. Hang Seng...23209.63...+30.60...+0.10%.

06:54 am : FTSE...6560.33...-11.10...-0.20%. DAX...8645.90...-18.70...-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

http://www.thestrategylab.com
Phone: +1 708 572-4885
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