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 Post subject: October 21st Monday Trade Results - Loss $3525.00
PostPosted: Tue Oct 22, 2013 12:18 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ ($3150.00) dollars or -31.50 points, Emini ES ($ES_F) futures @ ($375.00) dollars or -7.50 points, Light Crude Oil CL ($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 Loss @ $3525.00 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=1630

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.

S&P 500 Inches To New High

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

NEW YORK (CNNMoney)
Stocks ended mixed Monday as investors brace for tomorrow's jobs report and sift through the latest corporate earnings.

The S&P 500 gained less than 1 point, ending just above Friday's record high. The Dow Jones industrial average edged lower and the Nasdaq posted a small gain.

Investors jumped back into the market last week after the U.S. government reopened and lawmakers ended a budget showdown that threatened the nation's credit rating.

But the tone was more muted Monday as investors assess the economic damage caused by the shutdown and weigh the outlook for corporate earnings.

"The market will be looking for an excuse" to pull back by 1% or 2%, said Peter Cardillo, chief economist at Rockwell Global Capital. That excuse, he said, might be the September jobs report, which will be released Tuesday after being delayed by the partial government shutdown.

At the same time, investors say the lingering uncertainty in Washington means the Federal Reserve is unlikely to taper its bond buying program this year. That, along with continued improvement in the economy, could help support stocks in the short run.

McDonald's (MCD, Fortune 500) shares fell after the fast food chain reported earnings that met expectations, but global sales growth was tepid. Halliburton (HAL, Fortune 500) shares fell after the oil field services company's earnings met expectations.

AT&T (T, Fortune 500) shares gained after the company announced over the weekend that it had inked a $4.8 billion lease deal with Crown Castle International Corp (CCI). GE (GE, Fortune 500) was also a top performer after the company reported solid results Friday.

After the market closed, Netflix (NFLX) reported better-than-expected earnings for the third quarter. The online TV and movie rental service also projected higher sales and profit for the current quarter. Shares were up in extended trading after gaining more than 6% during the session.

Shares of JPMorgan Chase (JPM, Fortune 500) were little changed following news over the weekend that the bank and the Department of Justice have tentatively agreed to a $13 billion civil settlement to resolve several investigations into the bank's mortgage securities business.

Despite the record fine, the settlement would be a positive for the stock since it means JPMorgan can finally move beyond its legal woes, according to analysts at Biard Equity Research. The analysts said JPMorgan trades at a roughly 15% discount to rival large-cap banks such as Bank of America (BAC, Fortune 500) and Citigroup (C, Fortune 500).

Apple (AAPL, Fortune 500) shares gained one day before the company is expected to reveal its first revamped iPad in a year. Apple, which reports earnings next week, was also upgraded to "Buy" by analysts at Societe Generale.

"$AAPL Triple whammy of positives. 1) just crossed 513 2) iPad event with possible CHL deal 3) ER next week. Good buy right here IMO," wrote mjhtradepro.

* Trading in your iPad? Don't wait

On the economic front, the National Association of Realtors said existing home sales fell 1.9% in September. The group said rising interest rates and the fallout from the government shutdown will weigh on the housing market in the months ahead.

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4:15 pm : The major averages finished today's uneventful session near their flat lines as the S&P 500 ended flat while the Nasdaq added 0.2%.

The outperformance of the Nasdaq resulted from the relative strength of the technology sector (+0.5%), which was the leading cyclical group of the session. Top component, Apple (AAPL 521.36, +12.47), advanced 2.5% in anticipation of tomorrow's press event where the company is expected to unveil a new line of tablets. The largest tech stock also drew strength from comments made by Gartner after the research firm said it expects tablet demand to remain strong into the holiday season.

Apple accounted for much of the tech sector's gain while other large components were mixed. Microsoft (MSFT 34.99, +0.03) added 0.1% while IBM (IBM 172.86, -0.92) remained under pressure following its earnings miss last Thursday.

Elsewhere, the industrial sector (+0.4%) outperformed with its top member, General Electric (GE 26.14, +0.59), making a significant contribution. General Electric rallied 2.3% after UBS raised its target for the stock to $29 and Citigroup added the stock to its US Focus List. Transports also displayed relative strength as the Dow Jones Transportation Average added 0.4%.

The discretionary sector was the last cyclical group to climb into positive territory after several components reported earnings. Hasbro (HAS 49.72, +2.48) and V.F Corp (VFC 211.23, +6.93) settled with respective gains of 5.3% and 3.4% after both delivered bottom-line beats. Toymaker Hasbro also surpassed its revenue expectations while V.F. Corp missed top-line estimates, but raised its quarterly dividend 21% to $1.05 and announced that a 4:1 stock split will take place on December 20.

Also of note, McDonald's (MCD 94.59, -0.61) lost 0.6% after the company's cautious-sounding guidance overshadowed its earnings beat. The fast food giant said it expects October comparable store sales to be flat, which is a reflection of the challenging operating environment.

Even though three influential sectors posted gains, the broader market was pressured by the underperformance of energy (-0.4%) and financials (-0.2%). In addition, three countercyclical sectors-consumer staples (-0.3%), health care (-0.6%), and utilities (-0.2%)-also weighed while telecom services (+1.2%) outperformed. AT&T (T 35.22, +0.61) climbed 1.8% after the company agreed to sell 9,700 towers to Crown Castle International (CCI 74.66, -1.30) for $4.85 billion.

Treasuries settled near their lows with the 10-yr yield up two basis points at 2.61%.

Trading volume was on the light side as 678 million shares changed hands on the floor of the NYSE.

September existing home sales hit an annualized rate of 5.29 million units, which was a bit weaker than the rate of 5.30 million units that had been generally expected by the Briefing.com consensus. The pace for September was down from the prior month's revised rate of 5.39 million units.

Tomorrow, the September nonfarm payrolls report, which was delayed by the partial government shutdown, will be released at 8:30 ET while August net long-term TIC flows will be reported at 9:00 ET. Separately, the August Construction Spending report will cross the wires at 10:00 ET. Among earnings of note, Delta Air Lines (DAL 24.69, -0.32), United Technologies (UTX 107.62, -0.12), and Wipro (WIT 11.56, 0.00) will report their quarterly results before the opening bell.

DJIA +17.5% YTD
S&P 500 +22.3% YTD
Nasdaq +29.8% YTD
Russell 2000 +31.0% YTD

DJ30 -7.45 NASDAQ +5.77 SP500 +0.16 NASDAQ Adv/Vol/Dec 1233/1.70 bln/1324 NYSE Adv/Vol/Dec 1458/677.7 mln/1523

3:30 pm :

Nov crude oil fell below the $100 per barrel level for the first time since July as weak inventory data pressured prices. The Dept of Energy reported that crude oil inventories for the week ending Oct 11 had a build of 4.0 mln barrels when a smaller build of 2.2-3.0 mln barrels was anticipated
The energy component pulled back from its session high of $100.70 per barrel set in morning pit trade and brushed a session low of $99.41 per barrel. It eventually settled with a 1.4% loss at $99.72 per barrel
Nov natural gas also fell today. It brushed a session high of $3.77 per MMBtu in morning floor action but quickly retreated into negative territory. It settled 2.4% lower at $3.67 per MMBtu, just above its session low of $3.66 per MMBtu
Precious metals, on the other hand, registered gains
Dec gold traded slightly higher in a tight range near the $1316.00 per ounce level. It brushed a session high of $1319.70 per ounce in morning pit trade and settled 0.1% higher at $1315.80 per ounce
Dec silver climbed to a session high of $22.33 per ounce and settled at $22.28 per ounce, booking a gain of 1.6%

DJ30 -16.12 NASDAQ -0.01 SP500 -1.74 NASDAQ Adv/Vol/Dec 1180/1419.3 mln/1366 NYSE Adv/Vol/Dec 1346/419 mln/1631

3:00 pm : The S&P 500 trades lower by 0.2% as today's session enters its final hour. All in all, the day has not generated much excitement as the major averages have spent the entire session near their respective flat lines. The indices fell to fresh lows during the past hour, but that retreat has also been limited.

Trading volume has been trailing off through the afternoon, and with 383 million shares traded at this juncture, the final tally could come in a bit below the 200-day average of 724 million shares.

Market breadth is tilted to the downside as declining issues on the NYSE outpace advancers by a 1.3:1 ratio.DJ30 -27.51 NASDAQ -1.75 SP500 -3.08 NASDAQ Adv/Vol/Dec 1169/1.28 bln/1381 NYSE Adv/Vol/Dec 1281/382.8 mln/1680

2:35 pm : Equity indices have slipped to fresh lows, but their losses have been limited so far. The Dow and S&P 500 are both lower by 0.2% while the Nasdaq trades with a loss of 0.1% after spending most of the session in positive territory.

The recent retreat took place as the energy sector (-0.6%) fell to new lows. On a related note, crude oil trades down 1.3% at $99.78 per barrel.

Industrials (+0.3%), technology (+0.4%), and telecom services (+0.8%) have outperformed throughout the session, and the three sectors continue to trade well-ahead of the S&P 500.DJ30 -27.17 NASDAQ -2.72 SP500 -3.17 NASDAQ Adv/Vol/Dec 1156/1.21 bln/1366 NYSE Adv/Vol/Dec 1297/360.6 mln/1656

2:00 pm : Quiet afternoon action continues with the S&P 500 hugging its flat line. Meanwhile, the Nasdaq (+0.2%) sits near its best level of the session as the technology sector (+0.7%) underpins the index.

Technology stocks have outperformed over the past several weeks, which has benefited the Nasdaq. With the first three weeks of October in the rear-view mirror, the Nasdaq leads with a month-to-date gain of 4.0% while the S&P 500 has advanced 3.8%. The Dow has been more tentative in its advance, climbing 1.8% so far this month.

Elsewhere, Treasuries are on their lows with the 10-yr yield up three basis points at 2.62%.DJ30 -7.95 NASDAQ +7.50 SP500 -0.19 NASDAQ Adv/Vol/Dec 1245/1.09 bln/1274 NYSE Adv/Vol/Dec 1408/326.9 mln/1539

1:25 pm : The S&P 500 gained 2.4% last week. Over the last eight trading sessions, it has risen 5.4%. The fact that the S&P 500 is flat today is not a reflection of weakness. On the contrary, it is a reflection of the underlying bullish bias as investors have been reluctant to take some money off the table.

That reluctance is presumably driven in part by a fear of missing out on another leg higher and the prevailing understanding that the Federal Reserve isn't going to be tapering its asset purchases in the near future.

To be fair, the market has benefited from better-than-expected earnings news. Even so, it is a stretch to say that the earnings growth has been "strong." According to FactSet, the blended third quarter earnings growth rate for the S&P 500 was 1.3% through Friday. Excluding JPMorgan Chase (JPM), which had a big legal expense, the growth rate jumps to 3.8%.

This week is a big week of earnings reporting with close to 150 S&P 500 companies posting their results. It will also be a big week of economic reporting as the reports delayed during the shutdown start to roll out, beginning with the September employment report on Tuesday. DJ30 -6.81 NASDAQ +9.45 SP500 +0.16 NASDAQ Adv/Vol/Dec 1288/1.01 bln/1225 NYSE Adv/Vol/Dec 1443/300 mln/1489

1:00 pm : The S&P 500 is little changed at midday while the Nasdaq outperforms with a modest gain of 0.2%.

The tech-heavy index (+0.1%) has displayed relative strength from the start with its top component, Apple (AAPL 523.68, +14.79), providing considerable support. The largest tech stock trades with a gain of 2.9% ahead of tomorrow's product refresh event. On a related note, research firm Gartner said it expects tablet demand to remain strong into the holiday season. Other top tech components sport more modest gains with Oracle (ORCL 33.00, +0.10) and Microsoft (MSFT 35.08, +0.12) both up near 0.3% each.

Among tech earnings of note, SAP (SAP 76.37, +2.62) has jumped 3.6% after reaffirming its guidance and reporting better-than-feared results.

Outside of technology, the industrial sector (+0.3%) has outperformed through the first half of the session. The largest sector member, General Electric (GE 26.26, +0.70), has underpinned the group after Citigroup added the stock to its US Focus List. Transports also outperform with the Dow Jones Transportation Average up 0.2%.

Also of note, the discretionary sector trades higher by 0.1% after several components reported earnings. Hasbro (HAS 49.99, +2.75) and V.F Corp (VFC 212.96, +8.66) sport respective gains of 5.8% and 4.2% after both surpassed their earnings expectations. Meanwhile, McDonald's (MCD 94.25, -0.75) is lower by 1.0% after the company's flat October guidance overshadowed its one-cent beat.

Elsewhere, the telecom services (+0.9%) space trades in positive territory thanks to the support provided by AT&T (T 35.10, +0.49). The top-weighted telecom name is higher by 1.4% following the company's agreement to sell 9,700 towers to Crown Castle International (CCI 75.29, -0.67) for $4.85 billion.

The broader market has been kept from matching the gain in the Nasdaq as six sectors remain in the red. Countercyclical consumer staples, health care, and utilities weigh, holding losses close to 0.5% apiece.

Treasuries hover near their lows with the 10-yr yield up two basis points at 2.61%.

September existing home sales hit an annualized rate of 5.29 million units, which was a bit weaker than the rate of 5.30 million units that had been generally expected by the Briefing.com consensus. The pace for September was down from the prior month's revised rate of 5.39 million units.DJ30 -10.67 NASDAQ +10.65 SP500 +0.09 NASDAQ Adv/Vol/Dec 1335/943.2 mln/1167 NYSE Adv/Vol/Dec 1439/280.3 mln/1475

12:30 pm : Recent action saw the discretionary sector (+0.1%) climb into positive territory. Apparel and quick-service restaurant stocks remain mixed following V.F. Corp's (VFC 212.94, +8.64) bottom-line beat and cautious-sounding guidance from McDonald's (MCD 94.30, -0.90). Internet retailers have shown strength with Netflix (NFLX 349.24, +15.74) trading higher by 4.7% ahead of its quarterly report scheduled for after today's close.

Also of note, homebuilders trade broadly lower after the Dow Jones US Home Construction ETF (ITB 21.60, -0.50) was rejected by its 100-day moving average (22.22) at the open. The homebuilder ETF also slipped below its 50-day moving average (21.67) as it trades lower by 2.2%.DJ30 -12.17 NASDAQ +7.45 SP500 -0.39 NASDAQ Adv/Vol/Dec 1256/855.1 mln/1223 NYSE Adv/Vol/Dec 1392/257.6 mln/1537

12:00 pm : Not much has changed since our last update as the major averages continue to dilly-dally near their respective flat lines. The S&P 500 is lower by 0.1% while the Nasdaq holds a modest gain of 0.1%.

The new week has gotten off to a quiet start with investors responding to several quarterly reports. Most notably, McDonald's (MCD 94.49, -0.71) trades lower by 0.7% after the company's flat October guidance overshadowed its one-cent beat. Other consumer names have fared a bit better with Hasbro (HAS 50.10, +2.86) and V.F Corp (VFC 212.49, +8.19) up 6.1% and 4.0%, respectively. Both names reported above-consensus earnings and Hasbro also surpassed its revenue expectations.DJ30 -12.93 NASDAQ +5.37 SP500 -1.52 NASDAQ Adv/Vol/Dec 1182/754.9 mln/1292 NYSE Adv/Vol/Dec 1255/232.3 mln/1652

11:30 am : Equity indices continue to hover near their flat lines as seven of ten sectors hover in the red.

Three of four countercyclical sectors (consumer staples, health care, and utilities) trade broadly lower while the relative strength of AT&T (T 35.01, +0.40) has helped the telecom sector (+0.6%) outperform.

Among cyclical groups, energy, financials, and materials are the weakest sectors as all three hold losses close to 0.3% each. Meanwhile, industrials (+0.2%) and technology (+0.6%) trade ahead of the S&P.

Treasuries hover near their lows with the benchmark 10-yr yield up three basis points at 2.61%.DJ30 -24.26 NASDAQ +5.05 SP500 -1.62 NASDAQ Adv/Vol/Dec 1142/667.3 mln/1302 NYSE Adv/Vol/Dec 1262/206.9 mln/1633

10:55 am : The major averages continue to trade in mixed fashion, but all three indices remain within 0.2% of their respective flat lines.

The Nasdaq outperforms with a modest gain of 0.1% as Apple (AAPL 520.38, +11.49) trades higher by 2.2% after research firm Gartner said tablet demand will drive most of the 2013 increase in shipments of web-enabled devices. On the earnings front, business software publisher SAP (SAP 77.14, +3.39) holds a gain of 4.6% after reporting better-than-feared results and reaffirming its full-year guidance.

Although the tech sector has shown some early strength, most other groups trade in negative territory. Countercyclical sectors weigh as consumer staples, health care, and utilities sport losses close to 0.5% apiece. Meanwhile, the telecom services space holds a gain of 0.8% as AT&T (T 35.19, +0.58) underpins the sector following its agreement to sell 9,700 towers to Crown Castle International (CCI 73.61, -2.35) for $4.85 billion.DJ30 -34.33 NASDAQ +2.60 SP500 -2.65 NASDAQ Adv/Vol/Dec 1122/541.9 mln/1281 NYSE Adv/Vol/Dec 1225/174.2 mln/1623

10:35 am : Continuous crude oil futures fall below $100/barrel this morning and later in the morning session, front-month (Dec) crude oil finally fell below the $100/mark.

This didn't last long and in my recent action, crude oil is seeing an extension of gains following EIA crude oil inventory data, but is trading erratically and erased those gains.

In current action, Dec crude oil is -0.9% at $100.18/barrel.

Natural gas has been trending lower this morning and just hit a new LoD of $3.71/MMBtu in recent action.

Both gold and silver have been in positive territory all morning, but silver is far outperforming gold. Dec silver is currently +1.7% at $22.28/oz, while Dec gold is +0.3% at $1317.90/oz.DJ30 -18.24 NASDAQ +5.97 SP500 -0.88 NASDAQ Adv/Vol/Dec 1202/457.2 mln/1171 NYSE Adv/Vol/Dec 1370/153 mln/1454

10:00 am : The S&P 500 trades higher by 0.1%.

September existing home sales hit an annualized rate of 5.29 million units, which was a bit weaker than the rate of 5.30 million units that had been generally expected by the Briefing.com consensus. The pace for September was down from the prior month's revised rate of 5.39 million units.DJ30 -9.12 NASDAQ +14.02 SP500 +1.48 NASDAQ Adv/Vol/Dec 1305/268.9 mln/990 NYSE Adv/Vol/Dec 1470/102.8 mln/1280

09:45 am : The major averages began the session on a mixed note as the Nasdaq (+0.2%) climbed while the Dow Jones Industrial Average (-0.1%) slipped into the red.

Consumer names have pressured the Dow in the early going with Procter & Gamble (PG 78.61, -0.80) and McDonald's (MCD 93.61, -1.60) leading to the downside. The underperformance of McDonald's comes after the fast food giant beat earnings expectations by one cent, but said it does not expect sales growth in October.

Shares of UnitedHealth Group (UNH 67.72, -1.01) have also exerted pressure on the price-weighted index in the early going. The stock trades lower by 1.6% while the broader health care sector leads to the downside with a loss of 0.4%.DJ30 -23.76 NASDAQ +6.66 SP500 -0.50 NASDAQ Adv/Vol/Dec 1194/168.9 mln/1020 NYSE Adv/Vol/Dec 1323/75.7 mln/1380

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +7.00. Equity indices are expected to see little change at the open as the S&P 500 futures hover near fair value. Despite the quiet start to the week, the third-quarter earnings season will be heating up over the next couple days.

Earlier, McDonald's (MCD 93.17, -2.03) beat earnings expectations by one cent while saying October sales are expected to be flat. The stock trades lower by 2.1% as the report underscores the company's expectations for a challenging environment to continue.

Also of note, AT&T (T 35.10, +0.49) is higher by 1.4% after Crown Castle International (CCI 74.30, -1.66) announced it will acquire rights to roughly 9,700 AT&T towers for $4.85 billion in cash.

In today's economic data, September existing home sales will be reported at 10:00 ET.

08:56 am : [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: +5.20. The S&P 500 futures hover just below fair value.

Markets across Asia were mostly higher as many of the major averages closed at 52-week highs. Australia's ASX (+0.6%) ended at its best level in nearly five years while India's Sensex closed at its own three-year high. The overnight gains were paced by the Shanghai Composite (+1.6%), which rallied on the back of comments from Premier Xi Jingping, indicating China's growth targets will be met. Elsewhere, Japan's Nikkei (+0.9%) advanced after Bank of Japan Governor Kuroda reiterated the central bank would continue easing until its inflation target of 2.0% was met. Data out overnight was limited to Japan's trade deficit widening to a record JPY1.09 trillion (JPY1.06 trillion expected, JPY0.82 trillion previous) and Hong Kong's inflation rate ticking up to 4.6% year-over-year (4.5% previous).

In Japan, the Nikkei closed higher by 0.9% as trade ticked up to its best level in three weeks. Heavyweight Softbank was among the leaders, adding 2.8%. Elsewhere, Tokyo Electric Power Co shed 1.3% as the company continues to deal with the fallout from the leak at its Fukushima Daiichi power plant.
Hong Kong's Hang Seng added 0.4% as trade holds just off eight-month highs. Casino stocks outperformed as Galaxy Entertainment climbed 4.6% and Sands China added 2.9%. Energy names lagged as PetroChina and Cnooc shed 0.6% and 0.5%, respectively.
In China, the Shanghai Composite gained 1.6% as action managed to hold the 200-day moving average. Many technology shares, including China National Software and Beijing Shiji Information, ended limit up, 10%, on hopes economic reforms would benefit the sector.

Major European indices trade in mixed fashion as the quiet start to the week continues. On Saturday, Italy's appeals court banned PDL leader Silvio Berlusconi from public office for two years. Economic data was limited as Germany's PPI rose 0.3% month-over-month (0.1% forecast, -0.1% prior) while the year-over-year reading fell 0.5% (-0.7% expected, -0.5% previous). Elsewhere, Great Britain's Rightmove House Price Index rose 2.8% month-over-month (-1.5% prior). Italy's industrial new orders rose 2.0% month-over-month (-0.3% expected, -0.5% prior) while the year-over-year reading reflected a decline of 6.8% (-2.2% previous). Also of note, industrial sales rose 1.0% month-over-month (-0.8% last).

In France, the CAC is lower by 0.3% as financials lag. BNP Paribas and Societe Generale are lower by 1.1% and 2.1%, respectively. Industrial heavyweight Alstom leads with a gain of 3.9%.
Germany's DAX is off 0.1% as utilities weigh. E.ON and RWE hold respective losses of 1.0% and 0.5%. SAP leads with a gain of 5.3% after reporting better-than-feared results and reaffirming its full-year forecast.
Great Britain's FTSE holds a modest gain of 0.2%. Consumer stock G4S outperforms with a gain of 3.7% amid reports the company's cash-solution business has been generating outside interest. Meanwhile, financials lag with Barclays down 1.1% and Royal Bank of Scotland holding a loss of 4.6%.

08:30 am : [BRIEFING.COM] S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: +5.20. Index futures trade mixed as the S&P 500 futures hover one point below fair value while contracts on the Nasdaq hold a slim gain of 0.1%. The trading week is poised for a subdued start as European indices trade modestly lower after major Asian markets registered gains across the board.

Among quarterly earnings of note, Halliburton (HAL 51.85, -0.65) is lower by 1.2% despite beating earnings expectations by one cent on a 5.1% year-over-year increase in revenue. Among notable consumer names, McDonald's (MCD 93.55, -1.64) trades down 1.6% after reporting a one cent earnings beat and saying global comparable sales are expected to be flat in October.

On the economic front, September existing home sales will be reported at 10:00 ET while tomorrow will bring the September nonfarm payrolls report, which was delayed by the partial government shutdown.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: +2.70. U.S. equity futures trade little changed with the S&P 500 futures down two points below fair value.

Looking at overnight developments:

Asian markets posted gains. Hong Kong's Hang Seng +0.4%, Japan's Nikkei +0.9%, and China's Shanghai Composite +1.6%.
In regional economic data:
Japan's trade deficit narrowed to JPY932 billion from JPY960 billion (JPY920 billion expected) while the adjusted trade deficit widened to JPY1.09 trillion from JPY820 billion (JPY1.06 trillion forecast). Exports grew 11.5% year-over-year (15.6% expected, 14.7% prior) while imports increased 16.5% year-over-year (20.0% forecast, 16.0% previous). Separately, the All Industries Activities Index ticked up 0.3% month-over-month (0.3% forecast, 0.4% previous).
Hong Kong's CPI rose 4.6% year-over-year (4.4% forecast, 4.5% prior).
New Zealand's credit card spending rose 5.2% year-over-year (6.6% last) and visitor arrivals fell 1.0% month-over-month (0.0% prior).
In news:
The Bank of Japan raised its economic assessment on all nine regions. Meanwhile, Governor Haruhiko Kuroda spoke in front of the parliament, saying it is too early to discuss exiting the current easing strategy, which will continue until an inflation rate of 2.0% is "stable."

Major European indices trade in mixed fashion. France's CAC -0.3%, Germany's DAX -0.1%, and Great Britain's FTSE +0.2%.
Economic data was limited:
Germany's PPI rose 0.3% month-over-month (0.1% forecast, -0.1% prior) while the year-over-year reading fell 0.5% (-0.7% expected, -0.5% previous).
Great Britain's Rightmove House Price Index rose 2.8% month-over-month (-1.5% prior).
Italy's industrial new orders rose 2.0% month-over-month (-0.3% expected, -0.5% prior) while the year-over-year reading reflected a decline of 6.8% (-2.2% previous). Also of note, industrial sales rose 1.0% month-over-month (-0.8% last).
Looking at news:
On Saturday, Italy's appeals court banned PDL leader Silvio Berlusconi from public office for two years.

In U.S. corporate news:

Halliburton (HAL 52.00, -0.47): -0.9% despite beating earnings expectations by one cent.
Hasbro (HAS 49.10, +1.86): +3.5% after beating on earnings and revenue.
Manpower (MAN 79.72, +0.41): +0.5% following better-than-expected earnings on above-consensus revenue. In addition, the company guided fourth quarter earnings above analyst expectations.
Philips Electronics (PHG 35.51, +1.96): +5.8% after missing revenue expectations and announcing a share buyback program in the amount of EUR1.5 billion.
SAP (SAP 78.47, +4.72): +6.4% despite missing earnings and revenue expectations. The software company reiterated its full-year business outlook.
V.F. Corp (VFC 204.30, 0.00): beat on earnings while missing revenue expectations. The company also announced a 21% quarterly dividend hike to $1.05 and a 4:1 stock split.

The existing home sales report for September will be released at 10:00 ET.

07:46 am : [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: +5.00.

07:46 am : Nikkei...14693.57...+132.00...+0.90%. Hang Seng...23438.15...+98.10...+0.40%.

07:46 am : FTSE...6631.65...+9.10...+0.10%. DAX...8851.68...-13.80...-0.20%.

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

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

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