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 Post subject: October 22nd Tuesday Trade Results - Profit $5537.50
PostPosted: Wed Oct 23, 2013 1:21 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 @ $1760.00 dollars or +17.60 points, Emini ES ($ES_F) futures @ $2937.50 dollars or +58.75 points, Light Crude Oil CL ($CL_F) futures @ $840.00 dollars or +0.84 points, Gold GC ($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 @ $5537.50 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=1631

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 Up On Hopes Fed Stimulus Will Continue

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

NEW YORK (CNNMoney)
The September jobs report wasn't great, but stocks rose Tuesday as investors anticipated that lackluster hiring will push the Federal Reserve to keep its monetary stimulus as is in the months ahead.

The Dow Jones industrial average, S&P 500 and the Nasdaq ended modestly higher, with the S&P 500 closing at a fresh record high for a fourth straight day. The Dow finished at its highest level in a month.

The jobs report, which was delayed more than two weeks because of the government shutdown, showed the economy gained just 148,000 jobs last month. But the unemployment rate ticked down to 7.2%, the lowest since November 2008.

Still, the numbers suggest that the U.S. economic recovery remains fragile and that the Fed will likely keep buying $85 billion in bonds each month for a bit longer.

In light of the "moderate tone" of the jobs report, Barclays economist Michael Gapen said in a note to clients Tuesday that he now thinks the Fed will wait until March 2014 to scale back, or taper, its bond buying program. He had previously expected the Fed would taper this December.

The Fed has repeatedly said it wants to see more improvement in the job market before it begins to cut back on its $85 billion a month in bond purchases. Plus, economists expect the Fed will want more data on how the shutdown impacted the economy before it will be ready to start tapering.

Earnings keep rolling in: Netflix (NFLX) reported strong quarterly earnings and a rosy outlook late Monday. Shares initially surged to an all-time high in early trading, but quickly fell into the red. The stock finished down more than 9%.

Netflix shares have been on a tear all year, up nearly 250% so far. But Netflix CEO Reed Hastings said he isn't comfortable with the huge run-up. On a post-earnings conference call with analysts, he said Netflix thinks "momentum investors" are "driving the price more than we like normally" -- but that it's out of the company's control.

StockTwits user keywestbidwacker said Hasting's comments should be a red flag for investors.

"$NFLX never own a stock that a CEO talks down... not shareholder friendly at all... crazy...," he said.

Others suggested that investors who have profited from Netflix's significant advance may be starting to take money off the table to rake in some profit, including billionaire investor Carl Icahn.

"$NFLX Perfect example of not looking a gift horse in the mouth," TechTrader17 said. "I bet Icahn finally took some skin out of the game too."

Delta (DAL, Fortune 500) shares jumped after the airline reported quarterly profit growth.

Coach (COH) posted earnings and sales that missed forecasts, led by a drop in domestic sales. The one bright spot was China, where sales jumped 35%.

Lockheed Martin (LMT, Fortune 500) shares rose after the aircraft manufacturer reported a jump in quarterly profit, year over year, and increased its full-year outlook. The good news came despite the government shutdown, which led Lockheed and other defense contractors to furlough some workers.

Whirlpool (WHR, Fortune 500) shares rallied after the home appliance giant reported a third-quarter profit that doubled from a year ago and boosted its outlook for the year.

Tablet-palooza: Apple (AAPL, Fortune 500) was in the spotlight after it unveiled the iPad Air, a new lighter and thinner version of its tablet. The iPad Air will hit shelves Nov. 1. The company also announced a new iPad mini. But investors appeared to be unimpressed. Apple shares finished modestly lower following the announcement.

Nokia (NOK), which is selling its device business to Microsoft (MSFT, Fortune 500), unveiled its first full-size tablet and a pair of big-screen colorful Lumia smartphones earlier Tuesday. Shares of Nokia were also up after Dan Loeb said his hedge fund Third Point purchased a stake in Nokia during the third quarter. In a letter to clients, Loeb said he made the purchase after the sale to Microsoft was announced.

"Here come the activist investors! $NOK," said StockTwits user CS917047.

One trader said he expects Loeb's position could help drive shares of Nokia up 10% in the coming weeks.

"$NOK Now everyone is positive except some early bargain hunters who are exiting like Nordea," said mecka. "Dan Loeb will take it to $8 in few weeks."

* $300 million price tag for Obamacare site

European markets closed with modest gains. Asian markets ended the day mixed. Stocks in Hong Kong fell after a weak earnings report from China Mobile (CHL), while Japan's Nikkei inched higher.

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4:10 pm : The S&P 500 (+0.6%) registered its fifth consecutive advance despite seeing some volatility during the first half of the session.

Equity indices opened in positive territory after the September nonfarm payrolls report missed expectations (148K actual, 183K Briefing.com consensus). While the disappointing report underscored the subpar condition of the labor market, participants did not appear too concerned with the news knowing the Federal Reserve has pledged to maintain its loose monetary policy until conditions improve notably.

The market's response to the jobs report was a reflection of the belief that the Fed would not reduce the size of its asset purchases in the immediate term. On that note, Treasuries and gold rallied while the dollar sold off. The 10-yr yield fell nine basis points to a three-month low of 2.52% while gold futures jumped 1.9% to $1340.20 per troy ounce. Elsewhere, the Dollar Index lost 0.6%, ending at its lowest level since early February.

Nine of ten sectors posted gains while technology (-0.2%) underperformed after enduring some late-morning weakness. The tech sector fell from highs to lows during the first 90 minutes of the session as momentum names like Facebook (FB 52.68, -1.18), LinkedIn (LNKD 244.95, -4.84), and Yelp (YELP 69.41, -1.65) sold off. Netflix (NFLX 322.52, -32.47) also displayed weakness, reversing sharply from an earnings-driven gain of almost 10.0%.

Also of note, Apple (AAPL 519.87, -1.49) shed 0.3% after its latest product refresh event was met with a sell-the-news reaction after the stock rallied 5.1% over the past week.

Even though the tech sector briefly pressured the Nasdaq into the red, the S&P was underpinned by several influential groups like consumer discretionary (+0.7%) and energy (+0.7%). Interestingly, the energy sector rallied even as crude oil fell 1.4% to $98.30 per barrel.

Three of four countercyclical sectors outperformed as consumer staples, health care, and utilities advanced 1.4%, 0.9%, and 1.3%, respectively. Trading volume was in-line with average as just over 750 million shares changed hands on the floor of the New York Stock Exchange.

Looking back at today's remaining data, private payrolls added only 126,000 jobs in September after adding an upwardly revised 161,000 (from 152,000) in August. The consensus expected private payrolls to increase by 183,000. Aggregate wages rose 0.2% in September as hourly earnings increased 0.1% and the average workweek remained at 34.5 hours. While that is not as strong as we would like, it is enough to keep consumption spending moving upward. The unemployment rate fell to 7.2% from 7.3%.

The August net long-term TIC flows report indicated an $8.9 billion outflow of foreign capital from U.S. denominated assets. This follows the prior month's $31.1 billion inflow.

Separately, construction spending increased 0.6% in August following a big upward revision (1.4% from 0.6%) in July. The Briefing.com consensus expected construction spending to increase 0.4%.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET while September export prices ex-agriculture and import prices ex-oil will be released at 8:30 ET. The day's data will be topped off with the 9:00 ET release of the August FHFA Housing Price Index. On the earnings front, Boeing (BA 122.48, +1.01), Caterpillar (CAT 89.17, +1.47), and WellPoint (WLP 88.43, +0.83) will report their results before the opening bell.DJ30 +75.46 NASDAQ +9.52 SP500 +10.01 NASDAQ Adv/Vol/Dec 1400/1.82 bln/1150 NYSE Adv/Vol/Dec 2222/753.0 mln/814

3:30 pm :

Precious metals rose sharply in early morning pit trade as the dollar index fell on weaker-than-anticipated September nonfarm payrolls data. The report showed that 148K new jobs were added vs the 183K Briefing.com consensus, adding to expectations that the Federal Reserve will not reduce the pace of its asset purchases in the near-term
Dec gold lifted from its session low of $1312.90 per ounce and settled 2.0% higher at $1342.50 per ounce
Dec silver also came off its session low of $22.06 per ounce, rising as high as $22.83 per ounce. It settled at $22.79 per ounce, or 2.3% higher
Nov crude oil, however, extended yesterday's losses despite the weaker dollar index. The energy component pulled back from its session high of $100.30 per barrel and slipped into negative territory in morning floor action. It continued to trend lower and settled 1.4% lower at $98.32 per barrel
Nov natural gas fell deeper into negative territory following inventory data for the week ending Oct 11 that showed a build of 77 bcf when a build of 78-80 bcf was anticipated. It retreated from its session high of $3.65 per MMBtu and brushed a session low of $3.57 per MMBtu moments before settling with a 2.5% loss at $3.58 per MMBtu

DJ30 +101.21 NASDAQ +13.93 SP500 +12.52 NASDAQ Adv/Vol/Dec 1439/1531.7 mln/1088 NYSE Adv/Vol/Dec 2258/507 mln/774

3:00 pm : The S&P 500 trades higher by 0.6% as today's session enters the final hour.

With the Q3 earnings season heating up, investors received a fair share of quarterly reports between yesterday's close and today's open. Overall, most of the major names beat bottom-line estimates while top-line growth has not been as strong. Freeport-McMoRan (FCX 36.44, +1.40) and Lockheed Martin (LMT 129.11, +3.81) hold respective gains of 4.0% and 3.1% after both companies beat on earnings and revenue. Elsewhere, Whirlpool (WHR 145.24, +14.27) trades up 11.1% after reporting an earnings beat on below-consensus revenue.

Looking ahead, Amgen (AMGN 116.01, +2.37), Broadcom (BRCM 26.98, -0.34), Panera Bread (PNRA 165.47, +2.71), and STMicroelectronics (STM 8.67, -0.13) will report their quarterly results after today's closing bell.DJ30 +91.25 NASDAQ +8.72 SP500 +11.01 NASDAQ Adv/Vol/Dec 1406/1.41 bln/1128 NYSE Adv/Vol/Dec 2214/461.6 mln/787

2:35 pm : Recent action saw the Nasdaq return near its flat line while the S&P 500 continues to trade with a gain of 0.4%.

The S&P 500 hovers near its opening level after receiving an early boost from the September nonfarm payrolls report. Although the report came in well below expectations, equities did not appear too concerned with the disappointing reading as it strengthens the case against the Federal Reserve making a tapering decision in the near term.

Looking ahead to other reports of note, the August trade deficit (Briefing.com consensus -$38.6 billion) will be announced on Thursday while the final reading of the October Michigan Sentiment Survey (consensus 74.5) will be released on Friday.DJ30 +64.89 NASDAQ +2.48 SP500 +8.69 NASDAQ Adv/Vol/Dec 1382/1.32 bln/1146 NYSE Adv/Vol/Dec 2176/429.8 mln/818

2:05 pm : The S&P 500 trades higher by 0.5% as the relatively quiet afternoon continues. Equity indices were active in the early going, but the past three hours have been somewhat subdued.

The technology sector has shown some volatility, but the group now trades less than 0.1% below its flat line. Shares of Apple (AAPL 518.70, -2.66) remain modestly lower as the company continues its product refresh event in San Francisco. Although Apple trades lower today, the stock has added 5.4% since last Monday.DJ30 +63.35 NASDAQ +8.07 SP500 +9.53 NASDAQ Adv/Vol/Dec 1412/1.23 bln/1108 NYSE Adv/Vol/Dec 2193/394.5 mln/804

1:25 pm : The major indices have cracked today but they haven't broken. Although well off their session highs, they continue to sport modest gains.

A lot of attention has been paid -- and understandably so -- to how many of the momentum stocks like Netflix (NFLX 335.48, -19.51) and LinkedIn (LNKD 243.43, -6.36) started the day higher and then rolled over. Still, those pockets of weakness haven not been enough so far to carry the day for the bears.

As it so happens, buying efforts have remained broad-based.

Every sector with the exception of technology (-0.2%) is in positive territory and advancing issues outnumber declining issues at the NYSE by a better than 2-to-1 margin. In turn, while the momentum names succumb to profit-taking interest, 22 out of the 30 Dow components are up for the day and only one -- United Technologies (UTX 105.72, -1.90) -- is down more than a point. DJ30 +57.44 NASDAQ +5.13 SP500 +7.93 NASDAQ Adv/Vol/Dec 1342/1.12 bln/1169 NYSE Adv/Vol/Dec 2127/359 mln/846

1:00 pm : At midday, the S&P 500 trades higher by 0.4% while the Nasdaq hovers little changed.

Stocks saw an opening boost after the disappointing September nonfarm payrolls report (148,000 actual versus 183,000 Briefing.com consensus) was received as a sign suggesting the Federal Reserve will not be in much of a hurry to reduce the pace of its asset purchases.

The expectation of continued easing was also visible in bonds and commodities as Treasuries and gold futures rallied to highs. The 10-yr note is up 22 ticks, pushing its yield down eight basis points to 2.53%. Meanwhile, gold futures trade higher by 2.0% at $1341.90 per troy ounce.

After rallying through the first hour of action, the major averages slid from their highs with the Nasdaq leading to the downside. The retreat took place as several momentum names like Facebook (FB 53.24, -0.20), LinkedIn (LNKD 242.51, -7.28), and Yelp (YELP 70.90, -0.16) fell to their lows. Shares of Netflix (NFLX 335.68, -19.39) also tumbled into the red on heavy volume despite opening the session with a 9.6% gain following its earnings beat.

Also of note, Apple (AAPL 517.22, -4.13) holds a loss of 0.8% as the company kicks off its product refresh event in San Francisco.

Although the tech sector sparked the S&P's retreat from its best level of the day, the broader market remains supported by influential sectors like consumer discretionary (+0.4%), consumer staples (+0.9%), and health care (+0.8%).

Notably, today's sharp drop in yields has paved the way for homebuilders to trade broadly higher. The iShares Dow Jones US Home Construction ETF (ITB 22.11, +0.34) sports a solid gain of 1.5%.

Looking back at today's remaining data, private payrolls added only 126,000 jobs in September after adding an upwardly revised 161,000 (from 152,000) in August. The consensus expected private payrolls to increase by 183,000. Aggregate wages rose 0.2% in September as hourly earnings increased 0.1% and the average workweek remained at 34.5 hours. While that is not as strong as we would like, it is enough to keep consumption spending moving upward. The unemployment rate fell to 7.2% from 7.3%.

The August net long-term TIC flows report indicated an $8.9 billion outflow of foreign capital from U.S. denominated assets. This follows the prior month's $31.1 billion inflow.

Separately, construction spending increased 0.6% in August following a big upward revision (1.4% from 0.6%) in July. The Briefing.com consensus expected construction spending to increase 0.4%.DJ30 +35.68 NASDAQ -1.60 SP500 +6.19 NASDAQ Adv/Vol/Dec 1269/1.06 bln/1247 NYSE Adv/Vol/Dec 2083/337.7 mln/892

12:30 pm : The S&P 500 continues trading near its recent levels while the Nasdaq (+0.1%) remains just above its flat line. For the month, the major averages continue to hold solid gains, but today's underperformance of the Nasdaq index has caused the tech-heavy index to surrender its spot atop this month's leaderboard.

The S&P is now this month's top index as it holds an October gain of 4.2%. The Nasdaq follows closely with a month-to-date advance of 4.1% while the Dow has underperformed, rising 2.0% so far this month.DJ30 +40.05 NASDAQ +2.67 SP500 +6.77 NASDAQ Adv/Vol/Dec 1372/991.1 mln/1126 NYSE Adv/Vol/Dec 2158/317.6 mln/808

12:00 pm : The S&P 500 trades higher by 0.5% as the outperformance of seven sectors continues to mask the weakness in the top-weighted group-technology. While the tech sector holds a loss of 0.1%, the broader market has received support from other influential groups like energy, industrials, and health care.

The energy sector trades up 0.5% even as crude oil trades with a loss of 0.5%. Elsewhere, the industrial space has been underpinned by transports after Delta Air Lines (DAL 25.64, +0.95) reported a bottom-line beat.

Lastly, the health care sector is higher by 0.8% while two other countercyclical groups-consumer staples (+0.9%) and utilities (+1.1%)-have also displayed relative strength.DJ30 +67.18 NASDAQ +9.07 SP500 +8.97 NASDAQ Adv/Vol/Dec 1424/899.3 mln/1059 NYSE Adv/Vol/Dec 2203/287.9 mln/748

11:30 am : The Dow and S&P 500 hover near their recent levels while the Nasdaq has ticked up off its lows. Even though the tech-heavy index has returned to its flat line, the tech sector (-0.4%) continues to lag. The top sector component, Apple (AAPL 516.31, -5.05), trades lower by 1.0% ahead of its product refresh event scheduled for 13:00 ET.

Outside of technology, the financial sector (+0.1%) is the only group trailing behind the broader market. Top sector components trade in mixed fashion while Dow member Travelers (TRV 87.29, +0.53) sports a solid gain of 0.7% after beating earnings expectations.DJ30 +56.53 NASDAQ -2.60 SP500 +5.97 NASDAQ Adv/Vol/Dec 1329/806.9 mln/1126 NYSE Adv/Vol/Dec 2125/261.9 mln/817

11:00 am : The Dow Jones Industrial Average (+0.3%) and the S&P 500 (+0.2%) continue holding a portion of their gains, but the Nasdaq (-0.4%) has slid into the red.

The tech sector lagged throughout the first hour and the space currently trades with a loss of 0.4%. Furthermore, the recent Nasdaq weakness took place as several momentum names slipped to lows. Facebook (FB 52.30, -1.55), LinkedIn (LNKD 241.11, -8.68), and Yelp (YELP 68.26, -2.80) are all down between 3.0% and 4.0%. In addition, Netflix (NFLX 339.13, -16.43) trades lower by 4.9% despite opening the session with a 9.6% gain following its earnings beat.

With stocks falling from the highs, Treasuries have climbed to their best levels of the day. The benchmark 10-yr yield is down eight basis points at 2.52%.DJ30 +49.45 NASDAQ -10.63 SP500 +4.66 NASDAQ Adv/Vol/Dec 1305/640.1 mln/1100 NYSE Adv/Vol/Dec 2121/217.2 mln/788

10:35 am : Commodities are volatile this morning after traders bid up contracts in anticipation the Fed may not be able to taper anytime soon due to the disappointing September nonfarm payroll report.

Metals are showing the strongest gains, while the dollar index is down and just hit a new LoD. Gold, silver and copper futures are all sitting just under current session highs right now.

Dec gold is now +1.6% at $1337/oz, Dec silver +2.0% at $22.73/oz, Dec copper is +1.3% at $3.35/lb.

Energy is mixed with crude oil pushing back above $100/barrel and natural gas dropping to a new session low just now following inventory data. Dec crude oil is now +0.4% at $100.05/barrel, Nov natural gas is -1.0% at $3.63/MMBtu.DJ30 +109.97 NASDAQ +21.73 SP500 +12.60 NASDAQ Adv/Vol/Dec 1613/446.1 mln/766 NYSE Adv/Vol/Dec 2454/171 mln/440

10:00 am : The S&P 500 trades higher by 0.5%.

August construction spending rose 0.6% month-over-month against the Briefing.com consensus estimate of a 0.4% increase.DJ30 +76.26 NASDAQ +17.39 SP500 +9.70 NASDAQ Adv/Vol/Dec 1624/280.8 mln/659 NYSE Adv/Vol/Dec 2399/113.9 mln/426

09:45 am : The major averages began the session in positive territory with the Nasdaq (+0.5%) pacing the early advance. Even though the tech-heavy index has displayed early strength, the technology sector (+0.2%) trails behind the broader market.

Nine of ten sectors trade in positive territory with consumer discretionary (+0.6%) and materials (+0.7%) in the lead. Miners have contributed to the outperformance of materials as the Market Vectors Gold Miners ETF (GDX 25.56, +0.63) trades higher by 2.5%. On a related note, gold futures trade up 1.0% at $1329.00 per troy ounce. Gold futures jumped to a session high as investors viewed the September nonfarm payrolls report (148K actual versus 183K consensus) as a signal the Fed is unlikely to dial down its asset purchases in the near future.

On the downside, the telecom services space underperforms with a modest loss of 0.3%.

The August Construction Spending report will be released at 10:00 ET.DJ30 +36.44 NASDAQ +19.98 SP500 +6.29 NASDAQ Adv/Vol/Dec 1525/158.9 mln/639 NYSE Adv/Vol/Dec 2233/77.8 mln/491

09:14 am : [BRIEFING.COM] S&P futures vs fair value: +4.70. Nasdaq futures vs fair value: +12.50. Equity indices hover near their highs as today's session sets up for an upbeat open. The S&P 500 futures hold a gain of 0.3% with most of the advance coming in reaction to a disappointing September nonfarm payrolls report, which pointed to the addition of 148,000 jobs (Briefing.com consensus 183,000).

While the lower-than-expected figure reflects slow employment growth, it also serves as a signal, suggesting the Federal Reserve is unlikely to lower the pace of its asset purchases in the coming months. The early action in Treasuries confirms this viewpoint as the 10-yr note sits near its high with its yield down six basis points at 2.55%.

09:02 am : [BRIEFING.COM] S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +12.70. The S&P 500 futures trade higher by 0.3%.

Markets across Asia endured a mixed session as a sleepy trade took hold ahead of today's U.S. nonfarm payroll report. China's Shanghai Composite (-0.8%) was the notable mover in the region as shares slipped despite government data showing home prices climbed 9.1% year-over-year, gaining in 69 of 70 cities. Elsewhere, Japan's Nikkei (+0.1%) eked out a gain as shares benefited from the weaker yen. Thailand's SET (+0.6%) was the top performer in the region as shares recovered some of yesterday's 2.4% drop. Data from the region was quiet, limited to Taiwan's unemployment rate holding at 4.2%, and Malaysia's unemployment rate ticking up to 3.1% (3.0% previous).

In Japan, the Nikkei added 0.1% as action holds just off the July/September highs. Toyota Motor and Canon were among the beneficiaries of the weaker yen, adding 1.1% and 0.6%, respectively. Meanwhile, shares of telecom provider Softbank continued their recent outperformance, advancing 1.9%.
Hong Kong's Hang Seng shed 0.5% as action slipped off the October highs. Casino stocks were under pressure as Sands China and Galaxy Entertainment tumbled 4.9% and 4.5%, respectively, as traders booked profits following their recent run ups. Elsewhere, energy stocks posted solid gains with China Shenhua Energy gaining 1.4%.
In China, the Shanghai Composite settled lower by 0.8% as telecom and financials lagged. Ping An slipped 2.3% and ZTE Corp. fell 1.7% to finish among the worst performers in their respective sectors.

Major European indices hover near their best levels of the session, but the gains have been limited to no more than 0.5%. The first half of the session has been very quiet with few market-moving developments. Germany made a slight change to its growth forecast, hiking its 2014 GDP growth expectations to 1.7% from 1.6% while maintaining the 2013 forecast at 0.5%. Economic data was scarce as Great Britain's public sector net borrowing rose GBP9.4 billion (GBP10.3 billion expected, GBP10.8 billion prior) and Swiss trade surplus expanded to EUR2.49 billion from EUR1.85 billion (EU2.10 billion forecast).

Germany's DAX is higher by 0.4% as Deutsche Post leads with a gain of 3.2%. SAP also trades among the top performers, up 2.1%. Utilities trade lower with E.ON and RWE down 1.0% and 0.2%, respectively.
In France, the CAC trades with a gain of 0.5%. Consumer names have displayed strength as L'Oreal trades up 1.7% and Sanofi sports an advance of 1.6%. Utilities lag with GDF Suez and Veolia Environnement holding respective losses of 1.6% and 2.7%.
Great Britain's FTSE trades up 0.3% with miners among the leaders. BHP Billiton is higher by 3.4% after boosting its full-year output estimate. On the downside, easyJet trades lower by 2.7% after Cantor Fitzgerald downgraded the stock.

In domestic economic news, the August net long-term TIC flows report indicated an $8.9 billion outflow of foreign capital from U.S. denominated assets. This follows the prior month's $31.1 billion inflow.

08:34 am : [BRIEFING.COM] S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +7.50. The S&P 500 futures trade higher by 0.2% after spiking in reaction to a disappointing jobs report.

September nonfarm payrolls came in at 148K versus the 183K expected by the Briefing.com consensus. Nonfarm private payrolls added 126K against the 183K consensus. The unemployment rate was reported at 7.2% while the Briefing.com consensus expected the rate to hold at 7.3%.

Hourly earnings ticked up 0.1% while the Briefing.com consensus expected an increase of 0.2%. Average workweek was reported at 34.5, which matched the consensus.

08:00 am : S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: +1.00. U.S. equity futures hover near their flat lines with the S&P 500 futures trading one point below fair value. However, some volatility is expected at 8:30 ET when the September nonfarm payrolls report crosses the wires. The Briefing.com consensus expects the report to reflect the addition of 183,000 new jobs.

Looking at overnight developments:

Asian markets ended mixed. Japan's Nikkei +0.1%, Hong Kong's Hang Seng -0.5%, and China's Shanghai Composite -0.8%.
Regional economic data was limited to just one item:
China's house prices rose 9.1% month-over-month (8.3% prior). This represented the 9th consecutive increase.
In news:
The Chairman and President of the Chinese rating agency Dagong said in a CNBC interview that his agency's ratings are meant to provide investment guidance for the Chinese government.

Major European indices hover near their best levels of the session. Germany's DAX +0.1%, France's CAC +0.3%, and Great Britain's FTSE +0.3%.
Economic data was scarce:
Great Britain's public sector net borrowing rose GBP9.4 billion (GBP10.3 billion expected, GBP10.8 billion prior).
Swiss trade surplus expanded to EUR2.49 billion from EUR1.85 billion (EUR2.10 billion forecast).
Looking at headlines:
Germany made a slight change to its growth forecast, hiking its 2014 GDP growth expectations to 1.7% from 1.6% while maintaining the 2013 forecast at 0.5%.

In U.S. corporate news:

Coach (COH 52.50, -1.68): -3.1% after reporting a one-cent earnings beat on below-consensus revenue.
Delta Air Lines (DAL 25.40, +0.71): +2.9% following its earnings beat.
Netflix (NFLX 389.00, +34.01): +9.5% after beating on earnings and guiding fourth quarter earnings above consensus.
Texas Instruments (TXN 40.57, -0.42): -1.0% after its cautious fourth quarter guidance overshadowed its earnings beat.
VMware (VMW 91.00, +8.35): +10.1% after beating on earnings.
Lockheed Martin (LMT 127.30, +2.00): +1.6% after beating on earnings and revenue.
RadioShack (RSH 3.45, -0.07): -2.0% following its earnings miss on below-consensus revenue.
Travelers (TRV 88.80, +2.04): +2.4% after beating earnings expectations by 30 cents.
United Technologies (UTX 113.50, +5.88): +5.5% after reporting mixed earnings. The defense contractor beat bottom-line estimates by one cent, but missed revenue expectations.
Whirlpool (WHR 137.00, +6.03): +4.6% following its earnings beat on below-consensus revenue.

As mentioned earlier, the September nonfarm payrolls report will cross the wires at 8:30 ET. August net long-term TIC flows will be reported at 9:00 ET and the August Construction Spending report will cross the wires at 10:00 ET.

07:41 am : [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +2.50.

07:41 am : Nikkei...14713.25...+19.70...+0.10%. Hang Seng...23315.99...-122.20...-0.50%.

07:41 am : FTSE...6674.21...+20.00...+0.30%. DAX...8877..77...+10.60...+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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