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 Post subject: October 4th Friday Trade Results - Profit $5060.00
PostPosted: Fri Oct 04, 2013 9:47 pm 
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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 @ ($690.00) dollars or -6.90 points, Emini ES ($ES_F) futures @ $5750.00 dollars or +115.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $5060.00 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=122&t=1619

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=221&t=2029

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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 Bounce Back After Steep Slide

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

NEW YORK (CNNMoney)
Stocks moved higher Friday following two days of losses, but investors remained relatively cautious on the fourth day of the government shutdown.

The Dow Jones industrial average, the S&P 500 and the Nasdaq advanced between 0.5% and 0.9%. The gains came at the end of what was a mostly down week on Wall Street. The Dow fell 1.2% and the S&P 500 slipped 0.1%. Friday's move higher helped the Nasdaq book a 0.7% gain for the week though.

The government shutdown has created plenty of uncertainty and left an estimated 800,000 federal employees waiting to go back to work.

The shutdown is also delaying the release of the government's monthly jobs report, originally scheduled to come out Friday morning. Since the recession, the report has become the most closely watched indicator on the economy.

With little else to focus on, investors will continue to watch Washington for developments on the budget deal and the looming deadline to raise the debt ceiling. Failure to raise the debt limit is likely to have a significant impact on the global economy, as well as stocks, bonds and currency markets.

Though the political gridlock has sparked volatility on Wall Street, some experts say it is also creating bargains in the stock market.

"Think of this period of uncertainty as a buying opportunity for investors who are under-allocated to equities and have a long time horizon," said Kristina Hooper, head of investment and client strategies at Allianz Global Investors. She noted that although stocks plummeted in 2011 in the aftermath of an ugly debt ceiling debate and subsequent credit downgrade, they recovered and continued to rally.

Plus, it's unlikely the Federal Reserve is going to cut back on stimulus anytime soon, especially if the shutdown lingers and the country defaults on its debt. The last thing the Fed wants to do is scale back, or taper, its $85 billion per month in bond purchases at a time that could send the market into a tailspin, Hooper said.

What's moving: Shares of Facebook (FB) moved higher after the company said it will start selling advertising on its photo sharing tool Instagram.

While ads might be bothersome for users, investors were excited about how they might boost Facebook's revenue and bottom line.

"$FB Instagram monetization means all analysts estimates and price targets are WAY low, add about $8-$10 + to EVERY current price target," said StockTwits user TeslaMan.

Facebook competitor Twitter made its IPO filing public late Thursday. Twitter revealed that it is still unprofitable. The company also said it will trade under the symbol TWTR, though it hasn't yet said on which exchange it will list. Goldman Sachs (GS, Fortune 500) is the lead underwriter for the IPO.

As investors await Twitter's public debut, some investors drove the stock of a bankrupt electronic retailer higher. Tweeter Home Entertainment Group (TWTRQ) shares soared nearly 700% Friday on heavy volume. The company, which still trades at only 5 cents a share, filed for bankruptcy in 2007 and went out of business in 2008. But investors may have mistaken it for Twitter since Tweeter's symbol is TWTRQ.

StockTwits users were quick to notice the difference.

"Twitter Look-Alike Ticker Triggers 684% Advance in Penny Stock," said AlephBlog. "Big difference btw Twitter $TWTR & Tweeter $TWTRQ $$."

Related: Investors take a big bit of Potbelly IPO

Though Twitter's IPO is the most highly anticipated market debut since Facebook, investors were salivating over the IPO of a Chicago-based sandwich shop Friday. Potbelly (PBPB) surged 120% from its offering price as it began trading on the Nasdaq. But StockTwits users didn't seem to get the hype.

"$PBPB I don't get it. Has anyone eaten here?," asked StalkinStocks. "It's really not very good... I went once and have no desire to go back. Looking for puts."

Even those who enjoy the sandwiches were skeptical.

"$PBPB Good lord," said tickertutor. "Their sandwiches are good, but I would have never expected this the first day out."

Related: Debt fight could spark a recession

Tesla (TSLA) shares were higher following a three-day slide that shaved more than 10% of the value off the electric car maker's high-flying stock. The stock really took off at the end of the day after CEO Elon Musk published a blog post explaining what happened with a Model S that crashed earlier in the week. Images of the car in flames led some traders to wonder if Tesla's reputation as a maker of safe cars would be at risk.

But some investors simply wonder if the stock has run up too far too fast. Shares of Tesla have climbed more than 400% this year, and are trading at 100 times 2014 earnings estimates.

Tesla bears may question its lofty valuation, but StockTwits user never2long said that fans of the stock aren't going to be deterred by a high P/E ratio : "$TSLA It's foolish to think that TSLA isn't overvalued, but it's also foolish to think the market cares."

Shares of J.C. Penney (JCP, Fortune 500) continued to take a beating. The stock price of the troubled retailer fell below $8, its lowest since 1982.

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4:20 pm : The S&P 500 advanced 0.7%, ending the week with just a slim loss of 0.1%. Meanwhile, the Nasdaq (+0.9%) outperformed to extend its weekly gain to 0.7%. For its part, the Dow lagged throughout the week and despite today's gain of 0.5%, it ended the week lower by 1.3%.

Equities climbed throughout the session while showing little concern over the lack of progress in the Capitol Hill stalemate. A brief afternoon hiccup ensued after House Speaker John Boehner made the headlines with his "This isn't some damn game!" comment, referencing the shutdown. The Speaker's emphatic remark was made in reaction to an article in The Wall Street Journal, which quoted a senior administration official as saying "We are winning...It doesn't really matter to us [how long the shutdown lasts] because what matters is the end result."

While the end result of the shutdown remains unclear, today's end result for equities was crystal clear. The major averages settled near their highs as all ten sectors registered gains.

The Nasdaq was the top performing index with biotechnology making a significant contribution. The iShares Nasdaq Biotechnology ETF (IBB 212.50, +2.34) finished higher by 1.1%, also giving a boost to the health care sector (+1.1%). Meanwhile, the traditional technology sector (+0.5%) underperformed as top components traded in mixed fashion.

Elsewhere, the materials space (+1.4%) had the best showing as chemical producers and steelmakers climbed. Dow Chemical (DOW 39.99, +1.22) advanced 3.2% and the Market Vectors Steel ETF (SLX 45.43, +0.40) added 0.9%. Miners sat out today's rally as the Market Vectors Gold Miners ETF (GDX 24.19, -0.07) shed 0.3%. On a related note, gold futures slipped 0.5% to $1305.10 per troy ounce.

The other commodity-linked sector-energy (+0.9%)-outperformed throughout the session while crude oil added 0.5% to $103.78 per barrel.

Also of note, the industrial sector (+0.5%) lagged in each of the past two sessions, and that was the case once again today. Transportation companies ended in-line with the sector (Dow Jones Transportation Average +0.5%) while defense contractors kept the group from logging additional gains. The PHLX Defense Index added just 0.3%.

With regards to countercyclical sectors, health care finished among the leaders while the remaining defensive groups-consumer staples, telecom services, and utilities-underperformed with modest gains of 0.2% apiece.

Treasuries spent the session in a steady retreat as the benchmark 10-yr yield increased four basis points to 2.65%

Trading volume was well below average as 597 million shares changed hands on the floor of the NYSE.

On Monday, the August Consumer Credit report will be released at 15:00 ET.

Week in Review: Stocks Chop as Federal Government Shuts

The S&P 500 fell 0.6% on Monday as political uncertainty in Washington caused participants to reduce their risk exposure. In Washington, the federal government headed for a midnight shutdown following a game of political ping pong between the House of Representatives and the Senate. The two legislative bodies spent the day exchanging competing bill proposals with the House seeking to make changes to Obamacare while the Senate refused to engage in debate that would jeopardize funding for the health care law. All ten sectors settled in the red with consumer staples (-1.1%) leading to the downside. Meanwhile, other countercyclical groups ended mixed. Health care (-0.3%) and utilities (-0.1%) outperformed while telecom services (-0.6%) finished in-line.

Tuesday's session saw the S&P 500 start the fourth quarter on an upbeat note, climbing 0.8%. Stocks made the bulk of their advance during the opening 90 minutes before spending most of the afternoon near their highs. Late afternoon trade saw some profit-taking, but a final-minute surge sent the indices back to their highs as equities appeared unconcerned with the first day of the government shutdown. All ten sectors posted gains as equities drew strength from typical start-of-quarter inflows. The Nasdaq was the top performing index of the third quarter (+10.8%) and its relative strength continued into the first session of Q4. The index advanced 1.2% with support from its largest component. Apple (AAPL 483.03, -0.38) rose 2.4% after activist investor Carl Icahn said, in a tweet, that he pushed for a $150 billion buyback during his dinner meeting with Chief Executive Officer Tim Cook.

On Wednesday, the S&P 500 shed 0.1% after spending most of the session in a steady climb off its opening low. Sellers were in control early on, but gave way to dip buyers after headlines indicated President Obama would meet with Congressional leaders at the White House in the evening in hopes of bridging some of the gaps that are preventing a budget agreement from being reached. Six of ten sectors finished in the red with energy (+0.3%) ending in the lead as crude oil advanced 1.8% to $103.89 per barrel.

The S&P 500 fell 0.9% on Thursday as the government shutdown continued for the third day without any strong indications a resolution to the stalemate may be on the horizon. Even though stocks appeared largely unconcerned during the first two days of the shutdown, the Thursday session featured a reminder from the Treasury, saying the consequences of a default could be worse than the events of 2008. Equities retreated throughout the morning before finding support in the early afternoon following an article in The New York Times indicating Speaker of the House John Boehner told Republicans he would not allow a default to take place. The story was followed by a statement from the Speaker's office, which said this has always been Mr. Boehner's stance.DJ30 +76.10 NASDAQ +33.41 SP500 +11.84 NASDAQ Adv/Vol/Dec 1743/1.50 bln/780 NYSE Adv/Vol/Dec 1988/597.2 mln/1000

3:30 pm : Commodities displayed another volatile day, while the dollar index held gains and remained near its session high for the majority of the day. Crude oil spent most of today's session in positive territory as it received price support from the Keystone on Tuesday and as Hurricane Karen continued to form. Karen currently has about of the U.S. Gulf of Mexico oil shut in, according to regulators. Today's gains have crude ending the week 0.9% higher.

Natural gas wasn't too exciting today. After hitting a session high of $3.51/MMBtu, the energy component pulled back to end the day one cent higher. Natural gas ends the week 2.2% lower.

Gold extended yesterday's losses as a stronger dollar index weighed on prices. It rallied to a session high of $1326.00 in early morning pit trade but quickly fell back into the red. It brushed a session low of $1305.10 and settled with a 0.5% loss, bringing the week's losses to 2.1%.

Silver also retreated into negative territory after trading as high as $21.93 in morning floor action. It settled 0.1% lower, booking a 0.3% loss for the week.DJ30 +72.10 NASDAQ +33.20 SP500 +11.15 NASDAQ Adv/Vol/Dec 1745/1.23 bln/757 NYSE Adv/Vol/Dec 1957/382.5 mln/994

3:00 pm : The S&P 500 trades higher by 0.7% as today's session enters its final hour. Stocks have climbed throughout the day seemingly unperturbed by the stalemate on Capitol Hill. Thanks to today's gain, the benchmark index is now unchanged on the week. Meanwhile, the Nasdaq trades higher by 1.0% today, which puts in on track to register a weekly gain of 0.8%. However, the Dow has faced a bit more resistance, holding a week-to-date loss of 1.2%.

Market breadth remains tilted to the bullish side as advancing issues on the NYSE outpace decliners by a 2:1 ratio.DJ30 +82.39 NASDAQ +36.50 SP500 +12.45 NASDAQ Adv/Vol/Dec 1786/1.14 bln/706 NYSE Adv/Vol/Dec 1989/351.8 mln/970

2:30 pm : Afternoon action has been relatively quiet with the major averages trading at their best levels of the day. Even though the government shutdown appears likely to continue through the weekend, equity indices have not shown much concern over the impasse.

With regard to Treasuries, short-term bills have displayed some anxiety but the benchmark 10-yr yield has only added three basis points this week with the entire increase coming today. The 10-yr yield is higher by four basis points at 2.65%.DJ30 +69.40 NASDAQ +33.14 SP500 +10.93 NASDAQ Adv/Vol/Dec 1770/1.04 bln/697 NYSE Adv/Vol/Dec 1960/321.9 mln/970

2:00 pm : The S&P 500 trades higher by 0.6% as nine of ten sectors hover in positive territory. A handful of cyclical groups trade ahead of the broader market with consumer discretionary, energy, and materials sporting gains between 0.8% and 1.1%.

In the discretionary space (+0.8%), retailers and media companies have displayed strength while homebuilders trade broadly lower. The SPDR S&P Retail ETF (XRT 82.68, +0.46) is higher by 0.6%, and top-weighted media names like Comcast (CMCSA 45.61, +0.60) and Disney (DIS 65.00, +0.98) trade with gains close to 1.4% apiece. For its part, the iShares Dow Jones US Home Construction ETF (ITB 21.88, -0.34) is lower by 1.5% amid today's increase in Treasury yields (10-yr yield +4 bps at 2.65%).DJ30 +61.75 NASDAQ +31.37 SP500 +9.43 NASDAQ Adv/Vol/Dec 1755/963.7 mln/702 NYSE Adv/Vol/Dec 1900/297.1 mln/1003

1:30 pm : Like House Speaker Boehner said: "This [the government shutdown] isn't some damn game!" It appears, however, that the stock market continues to think it is -- a game in the sense that all of the finger pointing and petulant remarks is still looked at as political gamesmanship before a deal ultimately gets struck to re-open the government and raise the debt ceiling to avert a worst-case scenario from unfolding.

The understanding that the major indices plowed their way to new session highs after Mr. Boehner's press conference reflects the market's confident attitude in the face of the political uncertainty. To that same point, the S&P 500 is down just 0.2% week-to-date despite a lot of scary-sounding references to how bad a default on the nation's debt will be.

Separately, today's buying efforts have slowed in the past 45 minutes with the S&P 500 running into technical resistance at the 1690 mark.DJ30 +62.00 NASDAQ +31.41 SP500 +9.65 NASDAQ Adv/Vol/Dec 1775/887 mln/680 NYSE Adv/Vol/Dec 1942/274 mln/954

12:55 pm : The S&P 500 holds a midday gain of 0.6% as nine of ten sectors trade in positive territory. The benchmark index found early support at its 50-day moving average (1680) after contending with the noteworthy technical level throughout the week.

With the government shutdown continuing for a fourth day, the September nonfarm payrolls report, which was scheduled for today, has been delayed indefinitely. Meanwhile, comments from House Speaker John Boehner did little to suggest a budget agreement may be on the horizon.

Mr. Boehner spoke briefly, showing his discontent with an article in The Wall Street Journal, which quoted a senior administration official as saying "We are winning...It doesn't really matter to us [how long the shutdown lasts] because what matters is the end result." The Speaker countered by saying, "This isn't some damn game!" before reiterating his intention to prevent a default from taking place.

Equities took a step back in reaction to the comments, but have since climbed to fresh highs. Despite the choppy action since Monday, the S&P is on track to end the week with a modest loss of just 0.2%.

Meanwhile, the Nasdaq (+0.8%) has outperformed throughout the week, and it trades ahead of the S&P once again today. The tech-heavy index has drawn much of its strength from biotechnology as the iShares Nasdaq Biotechnology ETF (IBB 212.78, +2.62) trades higher by 1.3%. In turn, this has boosted the health care sector (+1.0%), which is the only countercyclical group trading ahead of the broader market.

Traditional tech names have been a bit more tentative in their advance as the tech sector sports a gain of 0.4%. However, chipmakers trade higher across the board with the PHLX Semiconductor Index up 0.9%.

With regards to other cyclical sectors, consumer discretionary (+0.8%), energy (+0.7%), financials (+0.7%), and materials (+1.1%) trade ahead of the broader market while industrials (+0.4%) lag.

Elsewhere, Treasuries have been selling off throughout the session, and the benchmark 10-yr yield is higher by four basis points at 2.66%.DJ30 +66.53 NASDAQ +32.04 SP500 +10.03 NASDAQ Adv/Vol/Dec 1800/808.1 mln/645 NYSE Adv/Vol/Dec 2004/251.1 mln/896

12:30 pm : The major averages have climbed to fresh highs with the Nasdaq (+0.9%) maintaining its lead. Cyclical sectors have been responsible for the steady advance with influential groups like consumer discretionary, energy, and financials holding gains between 0.7% and 0.8% apiece.

Meanwhile, countercyclical sectors remain mixed. Consumer staples (+0.3%), telecom services (UNCH), and utilities (+0.2%) lag while health care (+1.0%) outperforms.

Also of note, Treasuries have continued selling off, and the benchmark 10-yr yield is higher by four basis points at 2.65%.DJ30 +74.62 NASDAQ +33.37 SP500 +10.82 NASDAQ Adv/Vol/Dec 1789/743.5 mln/630 NYSE Adv/Vol/Dec 2000/233.3 mln/893

12:00 pm : The S&P 500 trades higher by 0.4% while the Dow (+0.3%) trails behind the benchmark index. The price-weighted Dow lags as 11 of its 30 components trade in the red. Even though more than a third of the index trades lower, the losses have been limited to no more than 0.6% with Coca-Cola (KO 36.95, -0.21) and Cisco Systems (CSCO 22.89, -0.11) leading to the downside.

On the upside, Boeing (BA 116.41, +1.17), Disney (DIS 64.70, +0.68), DuPont (DD 58.35, +0.59), JPMorgan Chase (JPM 52.45, +0.51), and Visa (V 190.80, +2.15) hold gains close to 1.0%.DJ30 +45.86 NASDAQ +24.02 SP500 +6.89 NASDAQ Adv/Vol/Dec 1719/658.2 mln/686 NYSE Adv/Vol/Dec 1872/208.1 mln/995

11:30 am : The S&P 500 trades higher by 0.3% following a modest retreat in reaction to comments from Capitol Hill.

In Washington, House Speaker John Boehner spoke briefly, showing his discontent with an article in The Wall Street Journal, which quoted a senior administration official as saying "We are winning...It doesn't really matter to us [how long the shutdown lasts] because what matters is the end result." Mr. Boehner referred to the shutdown by saying, "This isn't some damn game!" before reiterating his intention to prevent a default from taking place.

Stocks slipped in reaction to the comments as Speaker Boehner's tone suggested much distance remains between Democrats and Republicans in the budget battle.DJ30 +27.55 NASDAQ +21.24 SP500 +5.27 NASDAQ Adv/Vol/Dec 1675/580.1 mln/701 NYSE Adv/Vol/Dec 1818/185.1 mln/1020

11:00 am : The key indices hover near their highs with the S&P 500 up 0.4%. Meanwhile, the tech-heavy Nasdaq outperforms with a gain of 0.6%. Thanks to the early advance, the Nasdaq is now positive for the week. The S&P holds a slim week-to-date loss of 0.2% while the Nasdaq is higher by 0.6% so far this week. The price-weighted Dow Jones Industrial Average has been underperforming since Monday, and is on track to register a weekly loss of 0.7%.

Cyclical sectors have fueled much of today's advance as consumer discretionary, energy, financials, and materials hold gains between 0.4% and 0.8%. Meanwhile, three of four countercyclical sectors lag while health care (+0.7%) outperforms.

Treasuries have continued their retreat, and the 10-yr yield is now higher by three basis points at 2.64%.DJ30 +34.24 NASDAQ +20.43 SP500 +5.59 NASDAQ Adv/Vol/Dec 1660/471.7 mln/674 NYSE Adv/Vol/Dec 1862/151.1 mln/964

10:35 am : Commodities are mixed this morning, while the dollar index is near its session high.

Crude oil has been in positive territory all morning and rose as high as $104.15/barrel. In current trade, the November contract is +0.6% at $103.92/barrel.

Precious metals lost steam this morning as gold futures fall to a new LoD and silver falls back near its current LoD. Dec gold is now -0.7% at $1308.60/oz, Dec silver is -1.0% at $21.58/oz.

Natural gas prices got as bid in early morning trade and pushed as high as $3.54/MMBtu.DJ30 +42.74 NASDAQ +22.85 SP500 +7.20 NASDAQ Adv/Vol/Dec 1553/364.5 mln/711 NYSE Adv/Vol/Dec 1878/121 mln/896

10:00 am : The major averages have climbed to fresh highs with the Nasdaq (+0.5%) pacing the advance. The tech-heavy index has drawn strength from biotechnology and some of its largest components. Oracle (ORCL 33.35, +0.23) and Qualcomm (QCOM 67.69, +0.58) are both up near 0.8% and the iShares Nasdaq Biotechnology ETF (IBB 212.40, +2.24) trades up 1.1%.

Thanks to the early strength of biotech names, the health care sector (+0.6%) trades ahead of the remaining nine groups. A handful of cyclical sectors have also displayed early strength as consumer discretionary, financials, and materials trade with gains close to 0.4% apiece.DJ30 +31.40 NASDAQ +16.07 SP500 +5.06 NASDAQ Adv/Vol/Dec 1403/207.5 mln/787 NYSE Adv/Vol/Dec 1748/81.3 mln/950

09:45 am : The major averages have spent the first 15 minutes of the session alternating between gains and losses. Currently, the Dow Jones Industrial Average and S&P 500 hover just below their respective flat lines while the Nasdaq sports a modest gain of 0.1%. Notably, the S&P 500 was rejected by its 50-day moving average (1680) at the start.

Similar to the key indices, individual sectors are mixed with financials (+0.2%), health care (+0.2%) and utilities (+0.1%) in the lead while energy (-0.2%) and industrials (-0.2%) weigh.

Treasuries sit near their lows with the benchmark 10-yr yield up two basis points at 2.63%.DJ30 -9.71 NASDAQ +4.58 SP500 -0.21 NASDAQ Adv/Vol/Dec 1127/129.5 mln/1008 NYSE Adv/Vol/Dec 1213/61.2 mln/1402

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: +1.70. With 15 minutes to go before the start of the session, equity futures continue to hold modest gains. The S&P 500 futures trade higher by 0.2% and the benchmark index will look to build on the pre-market gain. The S&P 500 ended yesterday's session just below its 50-day moving average (1680) after contending with this noteworthy technical level throughout the week.

Overseas action has been generally subdued with markets in China remaining closed for Golden Week. Elsewhere, the Bank of Japan concluded its latest meeting by not making any changes to its policy course.

There was no economic data reported today with the September nonfarm payrolls report delayed indefinitely due to the ongoing government shutdown.

08:58 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +4.00. The S&P 500 futures continue to hover near their highs with a gain of 0.2%.

Markets across Asia ended mixed amid a lack of meaningful news and data out of the region. The Bank of Japan opined overnight, opting to keep policy on hold. Notable, however, were comments from Governor Haruhiko Kurdoa, who suggested a prolonged budget/debt ceiling showdown on Capitol Hill could have a "severe" impact on global markets. Japan's Nikkei (-0.9%) lagged the rest of the region as concerns over the progress of negotiations on Capitol Hill weighed (Japan is one of the top holders of U.S. debt). Chinese banks remained closed for Golden Week. Data from the region was limited to a jump in the Philippines inflation rate (2.7% actual versus 2.1% previous); Malaysia's trade surplus widening to MYR7.11 billion (MYR4.70 billion expected, MYR2.86 billion previous); and India's HSBC Services PMI falling to 44.6 from 47.6.

In Japan, the Nikkei closed lower by 0.9% as trade closed on the 50- and 100-day moving averages. Exporters lagged the broader market as Panasonic and Sharp gave up 3.2% and 3.3%, respectively.
Hong Kong's Hang Seng shed 0.3% amid a quiet trade. China Mobile gave up 2.9% on reports the company was considering cutting its carrier fees.
In China, the Shanghai Composite was closed.

Major European indices hover near their highs with Italy's MIB (+1.2%) pacing the advance. The first half of the session has been generally quiet with just three data points crossing as Eurozone PPI was unchanged month-over-month (0.1% expected, 0.2% prior) and Germany's PPI slipped 0.1% month-over-month (0.1% forecast, -0.1% previous) while the year-over-year reading fell 0.5% (0.1% consensus, 0.5% last). In news of note, the European Stability Mechanism chief Klaus Regling said he expects Greece to require a third bailout package.

Germany's DAX is little changed as financials lead while producers of basic materials lag. Allianz and Commerzbank hold respective gains of 0.9% and 2.6% while K+S trades down 2.5% and Lanxess holds a loss of 1.5%.
In Great Britain, the FTSE is higher by 0.1%. Standard Life is the top index performer as it trades with a gain of 3.1%. Consumer names lag with Tesco and TUI Travel both down near 0.6%.
France's CAC trades up 0.6% with bank shares contributing to the strength. Credit Agricole is higher by 1.4% and Societe Generale sports a gain of 1.9%.
In Italy, the MIB holds a gain of 1.2% as 36 of 40 components trade in positive territory. Banca Popolare, Mediobanca, and Unicredit are all up between 2.7% and 5.9%. Telecom Italia is the weakest performer, down 0.8%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +3.00. The major averages are poised to begin today's session in positive territory as equity futures hold modest gains. The S&P 500 futures trade higher by 0.2% with the benchmark index looking to rebound from yesterday's 0.9% decline. The S&P has been declining steadily since the September FOMC meeting, falling 2.7% over the course of 11 sessions. The index ended yesterday's session just below its 50-day moving average (1680), and the key technical level will be watched throughout the day.

In Washington, the government shutdown enters its fourth day with little suggesting the impasse is nearing an end. As a result, today's September nonfarm payrolls report has been postponed indefinitely.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +1.60. Nasdaq futures vs fair value: +4.00. U.S. equity futures hold modest gains with the S&P 500 futures up 0.2%.

Reviewing overnight developments:

In Asia, Hong Kong's Hang Seng -0.3%, Japan's Nikkei -0.9%, and China's Shanghai Composite was closed for Golden Week.
Regional economic data was limited:
The Bank of Japan maintained its policy stance, leaving its key interest rate unchanged at 0-0.1%.
India's HSBC Services PMI slipped to 44.6 from 47.6.
In news:
Japan's LDP party is expected to consider implementing corporate tax cuts and lowering the sales tax on food.

Major European indices hover near their highs. Germany's DAX +0.1%, Great Britain's FTSE +0.1%, and France's CAC +0.5%. Elsewhere, Italy's MIB +1.4% and Spain's IBEX +0.6%.
Economic data was scarce:
Eurozone PPI was unchanged month-over-month (0.1% expected, 0.2% prior).
Germany's PPI slipped 0.1% month-over-month (0.1% forecast, -0.1% previous) while the year-over-year reading fell 0.5% (0.1% consensus, 0.5% last).
Looking at news:
The European Stability Mechanism chief Klaus Regling said he expects Greece to require a third bailout package.

In U.S. corporate news:

Apple (AAPL 485.30, +1.89) is +0.4% after agreeing to acquire Cue for more than $40 million.
Union Pacific (UNP 153.70, -1.68) is -1.1% after lowering its third quarter earnings guidance below consensus.
Forest Oil (FST 6.75, +0.40) is +6.3% following an agreement to sell some of its Texas oil and gas assets to Templar Energy for $1.0 billion.

The September nonfarm payrolls report will not be released at its regular time due to the ongoing government shutdown.

07:03 am : [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +7.00.

07:03 am : Nikkei...14024.31...-132.90...-0.90%. Hang Seng...23138.54...-75.90...-0.30%.

07:03 am : FTSE...6458.35...+9.40...+0.20%. DAX...8605.21...+7.30...+0.10%.

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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