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 Post subject: October 29th Tuesday Trade Results - Profit $4695.50
PostPosted: Wed Oct 30, 2013 12:14 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1,880.00 dollars or +18.80 points, Emini ES ($ES_F) futures @ $2,812.50 dollars or +56.25 points, Light Crude Oil CL ($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 @ $4695.50 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=1636

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.

Dow, S&P 500 Close At Record Highs

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

NEW YORK (CNNMoney)
The bulls are on a roll. Stocks rose again Tuesday, despite a lackluster report on retail sales and a brief glitch involving the Nasdaq.

The Dow Jones industrial average jumped more than 100 points, to finish at a record closing high. The Dow is still slightly below its all-time intraday high though.

The S&P 500 also gained and closed at a record high for a third straight day, while the Nasdaq finished at its highest level since September 2000.

Retail sales slipped 0.1% in September. The decline was the first since March but was in line with expectations.

A separate report showed that home prices kept rising in August, with prices in 20 big cities climbing at a 12.8% annual rate, according to the S&P/Case-Shiller index.

The Federal Reserve was also be in focus as the central bank kicked off its two-day policy meeting. A statement is due Wednesday afternoon. The Fed is widely expected to keep its stimulus measures in place, but investors will be looking for signs to determine when the Fed may begin scaling back, or tapering, its $85 billion monthly bond buying program.

Nasdaq index prices briefly halted: The Nasdaq Composite index and Nasdaq-100 stopped updating just before noon due to dissemination issues. The indexes resumed updating at 12:45 ET. Options trading was halted, but stocks listed on the Nasdaq were not affected.

Still, this glitch is the latest in a string of malfunctions at the Nasdaq that began with the marred debut of Facebook (FB, Fortune 500) in May 2012.

Earnings still rolling in: Apple (AAPL, Fortune 500) shares started the day higher but ended down 2.5% as investors worried about the company's declining profit margin.

But traders on StockTwits remained optimistic.

"$AAPL Following this stock is nothing short of comedic, except that I'm long," said danieljs. "Still bullish long term, maybe an entry point on pullbacks?"

RealFanboy101 expects Apple's stock will rebound by the end of the year: "$AAPL Patience. We will see $600 before EOY."

Some traders suggested that Apple CEO Tim Cook needs to listen to activist investor Carl Icahn, who is pushing for a $150 billion buyback.

"$AAPL Tim cooks needs to get it on and Twerk that buyback," said Armando2013.

Shares of rival Nokia (NOK) were higher after the company reported a jump in smartphone sales. Nokia is in the process of selling its mobile device unit to Microsoft (MSFT, Fortune 500).

"$AAPL what happened to the green?" asked StockTwits trader Crammarc22. "Looks like you got played. Invest in $NOK to make real money."

Shares of LinkedIn (LNKD) were up in extended trading after the social network reported earnings and sales for the third quarter that topped forecasts.

IBM (IBM, Fortune 500) shares jumped after the company announced it will buy back $15 billion in stock, adding to its existing buyback program. IBM is one of the most heavily weighted stocks in the Dow. So its move helped push the Dow higher.

Tesla (TSLA) managed to erase earlier losses and end higher for the first time in three days. The stock has taken a dive this month, but is still up 370% for the year.

Some traders looking for a buying opportunity are happy with the recent slide.

"$TSLA Happy to see the nice pullback over the last month," said theansweris7. "Price was way too high for me to even consider it previously. Waiting on a bottom. Bearish."

Some traders are hoping Tesla's earnings report next week will help the stock rebound.

"$TSLA I expect good news out of the ER since the Model S is still 2 months on backorder," said KDMeister. "That should lift this baby to new highs."

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4:20 pm : The S&P 500 registered its fourth consecutive advance, climbing 0.6% to extend its October gain to 5.4%. The Dow Jones Industrial Average (+0.7%) outperformed the benchmark index while the Nasdaq (+0.3%) lagged after starting the session in-line with the S&P.

The tech-heavy Nasdaq posted a modest advance of 0.3% after the exchange experienced an intraday data dissemination issue that prevented index quotes from being sent out for nearly an hour. However, the issue was isolated to the index while individual components traded normally.

One of the components that contributed to the Nasdaq's underperformance was Apple (AAPL 516.68, -13.20). The largest tech stock lost 2.5% after its below-consensus gross margin guidance overshadowed its earnings beat on above-consensus revenue.

Despite Apple's relative weakness, the technology sector (+0.5%) ended in-line with the broader market, bolstered in part by the 2.7% gain in the shares of IBM (IBM 182.12, +4.77). Big Blue rallied after the company's Board of Directors authorized an additional $15 billion for its share buyback program. Chipmakers also contributed to the sector's strength as the PHLX Semiconductor Index advanced 1.5%.

Outside of technology, consumer discretionary (+0.6%) and energy (+0.7%) were the only other outperformers among cyclical sectors while financials, industrials, and materials ended with gains of 0.3% apiece.

The discretionary sector received support from homebuilders as all major builders posted gains while the iShares Dow Jones US Home Construction ETF (ITB 23.43, +0.32) rose 1.4%. Meanwhile, the energy sector was underpinned by BP (BP 45.90, +2.18) and Valero (VLO 40.21, +0.76) after both reported solid quarterly results.

Among countercyclical groups, utilities (+0.1%) lagged while consumer staples (+0.9%), health care (+0.7%), and telecom services (+1.5%) outperformed. Among earnings of note, Pfizer (PFE 31.25, +0.51) settled higher by 1.7% after beating bottom-line estimates by two cents on in-line revenue.

Treasuries ended on their highs as the 10-yr yield slipped two basis points to 2.50%.

With just two sessions left in October, the S&P is on track to post a solid monthly advance of 5.3%. While the month-to-date gain is impressive, the S&P 500's performance over the past 15 sessions has been even more eye-popping. Since October 8, the index has gained more than 7.0%. Investors will receive the latest policy statement from the Federal Open Market Committee tomorrow, but the markets are expecting the FOMC decision to be a non-event.

Trading volume was on the light side as just over 680 million shares changed hands on the floor of the New York Stock Exchange. Today's economic data was plentiful, but did little to suggest the Federal Reserve will be eager to curtail the pace of its asset purchases in the near term.

The Conference Board's Consumer Confidence Index plummeted in October, falling from an upwardly revised 80.2 (from 79.7) to 71.2 (73.1 Briefing.com consensus). The entire decline in confidence can be attributed to the reaction to the government shutdown and near-default by the U.S. Treasury.

Typically, confidence levels are influenced by equity trends, oil prices, labor conditions, and media reports. Other than the negative media attention on the shutdown, all of the typical components moved in a positive direction in October. If these trends continue in November, the Consumer Confidence Index should slowly return to at least September levels.

Separately, September retail sales declined 0.1% to follow an August increase of 0.2% (-0.1% Briefing.com consensus). The headline decline in retail sales masked an otherwise strong report, especially considering that private payroll growth was much weaker than expected.

The entire decline in sales was the result of a 2.2% drop in motor vehicle demand. Motor vehicle manufacturers already showed that August sales were boosted by calendar effects stemming from an extra weekend and the Labor Day holiday. With those biases removed, sales were set to decline substantially in September, which translated into the 2.2% drop in motor vehicle sales.

Total business inventories increased 0.3% in August after increasing 0.4% in July (+0.2% Briefing.com consensus).

Also of note, September producer prices fell 0.1% after increasing 0.3% in August (+0.2% Briefing.com consensus). That was the first monthly decline since prices fell 0.7% in April.

Food prices unexpectedly declined 1.0% in September after increasing 0.5% in August. A 17.9% drop in fresh and dry vegetables prices contributed to most of the September decline. Those prices increased 26.9% in August.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET, October ADP Employment Change will be released at 8:15 ET, and September CPI will cross the wires at 8:30 ET. In addition, the FOMC will release its latest policy statement at 14:15 ET. On the earnings front, General Motors (GM 36.06, +0.26), Comcast (CMCSA 47.71, -0.52), and Exelon (EXC 28.05, -0.02) will report their results ahead of the opening bell.DJ30 +111.42 NASDAQ +12.21 SP500 +9.84 NASDAQ Adv/Vol/Dec 1505/1.81 bln/1040 NYSE Adv/Vol/Dec 1856/682.6 mln/1136

3:30 pm :

Dec gold chopped around in negative territory today as a stronger dollar index pressured prices. The yellow metal brushed a session high of $1352.90 per ounce in late morning pit trade but was unable to sustain the momentum. It settled 0.5% lower at $1345.30 per ounce, slightly above its session low of $1342.40 per ounce
Dec silver spent most of the session trading near the unchanged line after lifting from a session low of$22.38 per ounce set in early morning pit trade. It eventually settled with a 0.1% loss at $22.49 per ounce
Dec crude oil fell for the first time in four sessions as the dollar index advanced. The energy component traded as low as $97.82 per barrel and settled with a 0.4% loss at $98.26 per barrel
Dec natural gas retreated back into negative territory after touching a session high of $3.67 per MMBtu in early morning pit trade. It settled 0.8% lower at $3.63 per MMBtu.

DJ30 +92.73 NASDAQ +8.04 SP500 +7.41 NASDAQ Adv/Vol/Dec 1420/1501.2 mln/1124 NYSE Adv/Vol/Dec 1681/445 mln/1268

3:05 pm : With one hour to go in today's session, the S&P 500 (+0.4%) continues to hover near its best level of the day. Quarterly earnings were in focus today as influential names like Apple (AAPL 523.10, -6.78), BP (BP 45.86, +2.13), Pfizer (PFE 31.25, +0.51) reported their results.

Earnings will continue flowing in after the close as nearly 100 companies will announce their results. Momentum names will be in focus with LinkedIn (LNKD 246.54, +3.54) and Yelp (YELP 68.20, +0.61) on this afternoon's reporting schedule.

Tomorrow morning, investors will receive roughly 70 reports with General Motors (GM 36.01, +0.21), Comcast (CMCSA 47.60, -0.63), and Exelon (EXC 27.97, -0.10) expected to garner some added attention.DJ30 +92.86 NASDAQ +7.26 SP500 +7.71 NASDAQ Adv/Vol/Dec 1344/1.34 bln/1186 NYSE Adv/Vol/Dec 1636/402.4 mln/1317

2:30 pm : The S&P 500 trades higher by 0.4% as the relatively quiet afternoon action continues. Tomorrow, investors will receive the latest policy statement from the Federal Open Market Committee, but the markets are expecting the FOMC decision to be a non-event.

With the budget battle causing a partial government shutdown, and a potential second round coming up early in 2014, the Federal Reserve is unlikely to reduce the pace of its asset purchases. In addition, the lack of strong economic data and the absence of a press conference following tomorrow's rate decision make a tapering announcement highly unlikely.DJ30 +100.12 NASDAQ +9.28 SP500 +8.12 NASDAQ Adv/Vol/Dec 1327/1.23 bln/1187 NYSE Adv/Vol/Dec 1587/372.1 mln/1350

2:00 pm : The Dow and S&P 500 have held their current levels for the past two hours as the two indices mask some underlying weakness among small caps. The Russell 2000 (-0.2%) hovers near its session low as the index continues its day-long retreat off the opening high.

With small caps displaying continued weakness, the CBOE Volatility Index (VIX 13.38, +0.07) has climbed out of the red. At this juncture, the near-term volatility measure sits at its afternoon high, which coincides with the middle of the intraday range.

The Treasury market has seen some inflows over the past 30 minutes and the 10-yr yield now trades lower by two basis points at 2.51%.DJ30 +89.66 NASDAQ +6.99 SP500 +7.36 NASDAQ Adv/Vol/Dec 1217/1.12 bln/1276 NYSE Adv/Vol/Dec 1503/338.9 mln/1423

1:25 pm : The stock market continues to have a one track mind as the major indices continue their march higher despite repeated warnings from market pundits that it is due for a period of consolidation.

However, IBM's (IBM 181.27, +3.92) announcement today that its Board authorized an additional $15 bln for its stock repurchase program has been seen as a marker for some that there is perhaps long-term value to be had among blue chip stocks. And it is the blue chips that are leading today, evidenced by the outperformance of the Dow (+0.7%) and S&P 500 (+0.5%) versus the Russell 2000 (-0.1%) and the S&P 400 Midcap Index (-0.04%).

Separately, with the notion hanging in the air that the market is ripe for a pullback, it makes sense that participants would be looking to rotate into more liquid, and less volatile, names like the blue chip stocks. To that end, 24 out of the 30 Dow components are trading higher at this point.DJ30 +92.48 NASDAQ +4.71 SP500 +7.20 NASDAQ Adv/Vol/Dec 1225/1.03 bln/1250 NYSE Adv/Vol/Dec 1503/312 mln/1413

12:55 pm : The major averages hold modest midday gains with the Dow Jones Industrial Average (+0.6%) in the lead. The three indices began the session with comparable gains before Apple (AAPL 526.90, -2.98) pressured the tech-heavy Nasdaq to its lows. While the Dow and S&P sit near their best levels of the day, the Nasdaq has recently broken away from its flat line after being anchored to that level for much of the past hour as the exchange experienced issues with quote dissemination.

Shares of Apple trade lower by 0.6% as the company's below-consensus gross margin guidance overshadows its earnings beat on above-consensus revenue. Despite today's loss, it should be noted the stock has rallied over 11.0% since the start of the month.

Although Apple has pressured the Nasdaq, the technology sector (+0.7%) continues to trade ahead of the broader market. The sector has received a boost from IBM (IBM 181.81, +4.46) after the company's Board declared a quarterly cash dividend of $0.95 per share and authorized a $15 billion share repurchase program. Chipmakers have also helped the sector withstand some of the pressure exerted by the largest tech stock as the PHLX Semiconductor Index trades higher by 1.3%.

While the traditional tech sector has been able to outpace the S&P, biotechnology has lagged through the first half of the session. The iShares Nasdaq Biotechnology ETF (IBB 210.92, -0.66) is lower by 0.3%. Despite the underperformance of biotech, the health care sector (+0.5%) is among today's leaders as Pfizer (PFE 31.25, +0.51) contributes to the relative strength after beating earnings expectations.

Similar to health care, two other countercyclical groups (consumer staples and telecom services) trade ahead of the broader market while utilities (-0.1%) lag.

Broadly speaking, the S&P has been able to extend to a new record high after rising nearly 6.8% since October 8. With just two sessions left in the month, the benchmark index is on track to end October with a solid gain of 5.2%.

Today's economic data was plentiful, but did little to suggest the Federal Reserve will be eager to curtail the pace of its asset purchases in the near term.

The Conference Board's Consumer Confidence Index plummeted in October, falling from an upwardly revised 80.2 (from 79.7) to 71.2 (73.1 Briefing.com consensus). The entire decline in confidence can be attributed to the reaction to the government shutdown and near-default by the U.S. Treasury.

Typically, confidence levels are influenced by equity trends, oil prices, labor conditions, and media reports. Other than the negative media attention on the shutdown, all of the typical components moved in a positive direction in October. If these trends continue in November, the Consumer Confidence Index should slowly return to at least September levels.

Separately, September retail sales declined 0.1% to follow an August increase of 0.2% (-0.1% Briefing.com consensus). The headline decline in retail sales masked an otherwise strong report, especially considering that private payroll growth was much weaker than expected.

The entire decline in sales was the result of a 2.2% drop in motor vehicle demand. Motor vehicle manufacturers already showed that August sales were boosted by calendar effects stemming from an extra weekend and the Labor Day holiday. With those biases removed, sales were set to decline substantially in September, which translated into the 2.2% drop in motor vehicle sales.

Total business inventories increased 0.3% in August after increasing 0.4% in July (+0.2% Briefing.com consensus).

Also of note, September producer prices fell 0.1% after increasing 0.3% in August (+0.2% Briefing.com consensus). That was the first monthly decline since prices fell 0.7% in April.

Food prices unexpectedly declined 1.0% in September after increasing 0.5% in August. A 17.9% drop in fresh and dry vegetables prices contributed to most of the September decline. Those prices increased 26.9% in August.DJ30 +96.44 NASDAQ +8.37 SP500 +7.93 NASDAQ Adv/Vol/Dec 1282/950.5 mln/1173 NYSE Adv/Vol/Dec 1579/289.2 mln/1326

12:30 pm : The Dow (+0.6%) and S&P 500 (+0.4%) have risen to fresh highs while the Nasdaq has been stuck on its flat line as the exchange deals with a technical issue that has impacted normal quote dissemination.

Since our last update, shares of IBM (IBM 181.02, +3.68) rallied to a fresh high amid news the company's Board declared a quarterly cash dividend of $0.95 per share and authorized a $15 billion share repurchase program.DJ30 +87.88 NASDAQ -0.11 SP500 +7.77 NASDAQ Adv/Vol/Dec 1286/878.1 mln/1170 NYSE Adv/Vol/Dec 1536/268.3 mln/1366

11:55 am : The Dow and S&P 500 continue to hover near their highs while the Nasdaq remains near its session low. The tech-heavy index slipped back into the red in a move coinciding with additional selling in Apple (AAPL 523.40, -6.48). The top tech component now trades lower by 1.2% while the broader tech sector continues to hold a modest gain of 0.3%.

Even though Apple weighs on the tech sector, the group remains in positive territory as chipmakers provide a measure of support. Micron (MU 17.43, +0.71) is higher by 4.3% while the broader PHLX Semiconductor Index trades higher by 1.2%.DJ30 +55.97 NASDAQ -0.11 SP500 +5.13 NASDAQ Adv/Vol/Dec 1287/760.5 mln/1144 NYSE Adv/Vol/Dec 1473/234.4 mln/1383

11:35 am : The major averages trade modestly higher with the S&P 500 up 0.3%. Outside of the initial spike, equity indices have not been in any sort of a hurry today. The S&P has spent the opening two hours inside of a three-point range while the Nasdaq has experienced a brief dip into the red that has already been erased.

Overall, the lack of a noteworthy pullback has been impressive considering the S&P has advanced nearly 6.8% since October 8. The benchmark index now sits at a new record high after rallying through the government shutdown. Although the partial shutdown had little effect on stocks, consumer confidence suffered in October.

The Conference Board's Consumer Confidence Index plummeted in October, falling from an upwardly revised 80.2 (from 79.7) to 71.2 (73.1 Briefing.com consensus). The entire decline in confidence can be attributed to the reaction to the government shutdown and near-default by the U.S. Treasury.

Typically, confidence levels are influenced by equity trends, oil prices, labor conditions, and media reports. Other than the negative media attention on the shutdown, all of the typical components moved in a positive direction in October. If these trends continue in November, the Consumer Confidence Index should slowly return to at least September levels.DJ30 +53.24 NASDAQ +1.13 SP500 +4.93 NASDAQ Adv/Vol/Dec 1311/681.8 mln/1106 NYSE Adv/Vol/Dec 1481/213.5 mln/1361

10:55 am : The S&P 500 continues to hold the bulk of its opening gain while the Nasdaq has returned to its flat line. Shares of Apple (AAPL 527.04, -2.84) have done their part in pressuring the Nasdaq back to yesterday's closing level. The largest tech stock trades lower by 0.6% after seeing an opening advance in the neighborhood of 1.0%.

Companies specializing in biotechnology have also weighed on the Nasdaq as the iShares Nasdaq Biotechnology ETF (IBB 209.74, -1.84) trades lower by 0.9%. However, the health care sector (+0.2%) has been able to withstand the underperformance of biotech as Pfizer (PFE 31.19, +0.45) trades with a gain of 1.5% after beating earnings estimates by two cents.DJ30 +40.17 NASDAQ -2.05 SP500 +3.29 NASDAQ Adv/Vol/Dec 1316/523.9 mln/1036 NYSE Adv/Vol/Dec 1513/174.2 mln/1270

10:35 am : The dollar index has been in positive territory all day so far, which has weighed on commodities. In recent trade, the index has been pulling back off its HoD.

Energy still remains in the red, but metals are mixed/higher. Dec crude oil futures have been in the red all day and fell below the $98/barrel level earlier this morning. In current action, Dec crude is -0.5% at $98.25/barrel. Nov natural gas is -0.8% at $3.54/MMBtu.

Metals have recovered this morning. Dec gold is now -0.1% at $1350.70/oz, Dec silver is +0.2% at $22.58/oz and Dec copper is +0.6% at $3.29/lb.DJ30 +56.45 NASDAQ +2.81 SP500 +5.26 NASDAQ Adv/Vol/Dec 1414/424.5 mln/895 NYSE Adv/Vol/Dec 1621/148 mln/1136

10:00 am : The S&P 500 hovers two points below its early high while the Nasdaq has continued retreating from its opening level.

The latest consumer confidence reading for September came in at 71.2 while economists polled by Briefing.com expected the survey to come in at 73.1. This follows the prior month's revised reading of 80.2 (from 79.7).

Separately, August business inventories rose 0.3%, which was above the 0.2% increase expected by the Briefing.com consensus. This follows the prior month's revised increase of 0.4%.DJ30 +54.11 NASDAQ +3.74 SP500 +4.45 NASDAQ Adv/Vol/Dec 1409/248.7 mln/798 NYSE Adv/Vol/Dec 1673/101.9 mln/1050

09:45 am : The major averages registered opening gains with the Nasdaq pacing the early advance. However, the tech-heavy index has slipped from its early high as top component, Apple (AAPL 531.09, +1.21), trimmed its early gain to 0.3%. The largest tech stock was up as much as 1.0% at the start of the session, but has returned near its flat line as below-consensus first-quarter margin guidance overshadows above-consensus fourth-quarter earnings and revenue.

On a related note, the technology sector (+0.5%) is the top performer at this juncture. Outside of technology, four out of the remaining five cyclical sectors trade in positive territory while materials (-0.1%) lag.

Countercyclical sectors are mixed as consumer staples and utilities trail the broader market while the telecom services space outperforms. For its part, the health care sector trades in-line with the S&P.

The August business inventories report and September consumer confidence will both be released at 10:00 ET.DJ30 +52.53 NASDAQ +11.82 SP500 +5.12 NASDAQ Adv/Vol/Dec 1446/142.9 mln/696 NYSE Adv/Vol/Dec 1721/72.4 mln/922

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +3.70. Nasdaq futures vs fair value: +13.00. With 15 minutes to go before the start of today's session, equity futures signal modest gains at the open. The S&P 500 futures hover near their highs, sporting an advance of 0.1% after erasing their overnight losses.

Since yesterday's closing bell, investors received more than 150 quarterly reports. Most notably, Apple (AAPL 536.62, +6.74) trades up 1.2% after beating on earnings and revenue. Along with its report, the company issued first-quarter guidance, expecting gross margins to come in below current analyst estimates. Among other noteworthy reports, Archer-Daniels Midland (ADM 39.00, -0.84) trades lower by 2.1% after missing earnings expectations by one cent on above-consensus revenue.

Treasuries are little changed to the downside with the 10-yr yield at 2.54%.

09:00 am : S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +10.50. The S&P 500 futures trade higher by 0.1%.

Major Asian markets ended mostly higher but Japan's Nikkei (-0.5%) and China's Shanghai Composite (-0.2%) underperformed. In China, the PBoC said money market liquidity remains adequate while liquidity management would be stable for the remainder of the year. The one-month Shanghai Interbank Offered Rate fell almost 32 basis points to 6.16% while the two-week rate increased nearly 6 basis points to 6.45%. In other central bank news, the Reserve Bank of India hiked its repurchase rate by 25 basis points to 7.75% while cutting the marginal standing facility rate by 25 basis points to 8.75%. The rate hike was aimed at curtailing inflation while the MSF cut is expected to bring down the cost of short-term funds for banks. In regional economic data, Japan's household spending increased 3.7% year-over-year (0.5% forecast, -1.6% previous) while retail sales rose 3.1% year-over-year (1.9% expected, 1.1% prior). Separately, the unemployment rate slipped to 4.0% from 4.1%, as expected. Elsewhere, South Korea's current account surplus expanded to $6.57 billion from $5.68 billion.

In Japan, the Nikkei lost 0.5% as heavy industrials lagged. Hitachi Construction, Kawasaki Heavy Industries, and Komatsu lost between 5.7% and 8.1%. On the upside, Tokyo Electric Power Co gained 3.5% to halt its recent slide.
Hong Kong's Hang Seng added 0.2% as financials displayed strength. Bank of China and Bank of Communications advanced 2.3% and 1.8%, respectively. Internet and gaming names lagged as Tencent Holdings fell 3.4%.
In China, the Shanghai Composite shed 0.2% as listings associated with the newly-opened free trade zone lagged. Shanghai Waigaoqiao Free Trade Zone Development tumbled 8.0%. Financials displayed strength with China Vanke climbing 1.4%.

Core European indices hold modest gains while peripheral markets outperform with Italy's MIB (+1.7%) in the lead. The index outperforms even after the statistics agency said Italy is expected to register a contractionary GDP reading for the third quarter, which would mark the 9th consecutive contraction. Also of note, Troika officials are expected to arrive in Greece today to demand new measures in exchange for a EUR2 billion aid package. Investors received a handful of economic releases as Great Britain's BoE consumer credit increased GBP410 million (GBP700 million expected, GBP620 million prior) while net lending to individuals rose GBP1.40 billion (GBP2.50 billion expected, GBP1.70 billion last). Separately, mortgage approvals increased 67,000 (66,000 forecast, 63,000 prior) and mortgage lending rose GBP1.00 billion (GBP1.20 billion expected, GBP1.10 billion prior). French consumer confidence remained unchanged at 85, as expected. Spain's retail sales rose 2.2% year-over-year (-1.1% forecast, -4.8% prior).

Germany's DAX is higher by 0.2% as exporters contribute to the gain. Daimler and Volkswagen are lower by 0.8% and 0.2%, respectively. Chemical producers lag with Lanxess and Linde both down near 1.0%.
In France, the CAC trades up 0.5% with banks pacing the advance. Credit Agricole holds an advance of 1.4% and Societe Generale is higher by 1.7%. Michelin underperforms with a loss of 3.8% after missing earnings expectations.
Great Britain's FTSE holds a gain of 0.6%. Energy producers are among the leaders after BP reported strong results. Shares of BP trade higher by 4.5%. Miners lag with Fresnillo and Randgold Resources both down near 2.0%.
Italy's MIB is higher by 1.7% as 38 of 40 components register gains. Saipem leads with a gain of 5.5%. UniCredit has also displayed strength, trading higher by 4.0%.

In domestic economic news, the August Case-Shiller 20-city Home Price Index rose 12.8% while a 12.4% increase had been expected by the Briefing.com consensus. This follows the previous month's revised increase of 12.3% (from 12.0%).

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +10.00. The S&P 500 futures trade higher by 0.1%.

September retail sales slipped 0.1%, in-line with the Briefing.com consensus. The prior month's reading reflected an increase of 0.2%. Excluding autos, retail sales increased 0.4% against the expectations of a 0.2% rise. Last month's reading indicated growth of 0.1%.

Separately, September producer prices ticked down 0.1%, which was cooler than the uptick of 0.2% forecast by the Briefing.com consensus. Core producer prices rose 0.1%, in-line with the Briefing.com consensus.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +11.20. U.S. equity futures hold slim pre-market gains with the S&P 500 futures up 0.1%.

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei -0.5%, China's Shanghai Composite -0.2%, and Hong Kong's Hang Seng +0.2%.
In regional economic data:
Japan's household spending increased 3.7% year-over-year (0.5% forecast, -1.6% previous) while retail sales rose 3.1% year-over-year (1.9% expected, 1.1% prior). Separately, the unemployment rate slipped to 4.0% from 4.1%, as expected.
South Korea's current account surplus expanded to $6.57 billion from $5.68 billion.
The Reserve Bank of India hiked its repurchase rate by 25 basis points to 7.75% while cutting the marginal standing facility rate by 25 basis points to 8.75%.
Looking at news:
The People's Bank of China said money market liquidity remains adequate while liquidity management would be stable for the remainder of the year. The one-month Shanghai Interbank Offered Rate fell almost 32 basis points to 6.16% while the two-week rate increased nearly 6 basis points to 6.45%.

Core European indices hold modest gains while peripheral markets outperform. Germany's DAX +0.2%, France's CAC +0.4%, and Great Britain's FTSE +0.5%. Elsewhere, Spain's IBEX +0.9% and Italy's MIB +1.4%.
Investors received a handful of economic releases:
Great Britain's BoE consumer credit increased GBP410 million (GBP700 million expected, GBP620 million prior) while net lending to individuals rose GBP1.40 billion (GBP2.50 billion expected, GBP1.70 billion last). Separately, mortgage approvals increased 67,000 (66,000 forecast, 63,000 prior) and mortgage lending rose GBP1.00 billion (GBP1.20 billion expected, GBP1.10 billion prior).
French consumer confidence remained unchanged at 85, as expected.
Spain's retail sales rose 2.2% year-over-year (-1.1% forecast, -4.8% prior).
In news:
According to Italy's statistics agency, the country is expected to register a contractionary GDP reading for the third quarter, which would mark the 9th consecutive contraction.
Troika officials are expected to arrive in Greece today to demand new measures in exchange for a EUR2 billion aid package.

In U.S. corporate news:

Apple (AAPL 534.00, +4.12): +0.8% after beating on earnings and revenue. However, the company guided its first-quarter gross margins below analyst expectations.
BP (BP 45.53, +1.81): +4.1% following its bottom-line beat.
Cummins (CMI 127.50, -7.41): -5.5% after missing on earnings, revenue, and lowering its full-year 2013 revenue guidance.
Herbalife (HLF 67.70, -0.22): -0.3% following better-than-expected earnings on above-consensus revenue.
Pfizer (PFE 30.75, +0.01): little changed after beating earnings estimates by two cents on in-line revenue.
Yahoo! (YHOO 32.94, +0.59): +1.8% after Bernstein upgraded the stock to 'Outperform' from 'Market Perform.'

September retail sales and Producer Price Index will be reported at 8:30 ET, August Case-Shiller 20-City Index will cross the wires at 9:00 ET, and August business inventories will be announced at 10:00 ET. Also at 10:00 ET, the October Consumer Confidence report will be released.

07:33 am : [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +9.00.

07:33 am : Nikkei...14325.98...-70.10...-0.50%. Hang Seng...22846.54...+40.00...+0.20%.

07:33 am : FTSE...6759.64...+33.90...+0.50%. DAX...8992.88...+14.00...+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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