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 Post subject: November 7th Thursday Trade Results - Profit $7057.50
PostPosted: Thu Nov 07, 2013 10:10 pm 
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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)
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 @ $3,870.00 dollars or +38.70 points, Emini ES ($ES_F) futures @ $3,187.50 dollars or +63.75 points, Light Crude Oil CL ($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 @ $7,057.50 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=123&t=1645

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=223&t=2061

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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 Take A Big Dive, But Twitter Surges

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

NEW YORK (CNNMoney)
Most stocks finished in the red Thursday, but the one that everyone had their eye on closed firmly in green. Shares of Twitter (TWTR) surged in their debut on the New York Stock Exchange.

But it was a pretty rough day for stocks not named Twitter. The Dow Jones industrial average fell more than 150 points, or 1%, while the S&P 500 dropped 1.3%. The Nasdaq was the biggest laggard of the day, down nearly 2%.

Stocks have been trading near all-time highs recently. In fact, the Dow hit a new record early Thursday morning before pulling back. So Thursday's slump might be a sign that investors are growing more worried about how hot the market has been this year. Some analysts feel stocks are getting close to being overvalued.

Twitter defies the bears. But Twitter didn't suffer from any concerns about valuation. The stock began trading at $45.10, 73% above its initial public offering price of $26, shortly before 11 a.m. ET. Twitter continued to rise, climbing as high as $50.09. It closed the day up 73% at $44.90, with more 117 million shares exchanging hands on the first day of trading.

Still, rival social media sites Facebook (FB, Fortune 500) and LinkedIn (LNKD) tumbled along with the rest of tech. The Social Media ETF (SOCL), which is expected to purchase shares of Twitter for its fund, declined almost 4%.

Two mutual funds that invest in private companies and have owned Twitter shares for some time also decreased sharply. GSV Capital (GSVC) fell 13%, while shares of Firsthand Technology Value Fund (SVVC) declined 6%.

Despite Twitter's strong debut, most traders on StockTwits were bearish on the company's future.

"$TWTR Social media hype will not last long," said MasterBull. "Maybe another 6 years at most before the next big thing ... sound familiar 'my space' Bearish."

Many traders said they expect Twitter will retreat once the hype dies down.

"In the coming days $FB will turn Green & $TWTR will be beet Red. Bullish," said tman2k.

But some traders did come to Twitter's defense.

"Simple trade Psyche..Everyone thinks $TWTR is way over-priced here...but that is the reason it will even head higher," said leopardtrader.

Earnings continue to roll in: The broader market was dragged down by companies with lackluster earnings.

Whole Foods (WFM, Fortune 500)was one of the biggest losers in the S&P 500 and Nasdaq as shares sank more than 11%. The sharp drop came after organic grocer cut its earnings and sales forecasts.

"$WFM all these hipster not buying over price supermarket," said StockTwits user bullvsbear. "That's probably because they're shopping at their local farmer's market instead."

* Video - Twitter now under Wall St. microscope

Qualcomm (QCOM, Fortune 500) was also weighing on the Nasdaq and S&P 500, as shares fell 4% after the company posted quarterly earnings that fell short of expectations.

Groupon (GRPN) and Priceline.com (PCLN, Fortune 500) both sank in after hours trading following their earnings releases. The two stocks finished the regular day of trading lower as well.

Tesla (TSLA) shares tumbled again following reports of yet another fire in one of its Model S electric cars.

"$TSLA buy one and than once it catches fire you get another one for free," quipped Hameed on StockTwits.

J.C. Penney (JCP, Fortune 500), however, jumped after the troubled retailer announced an increase in same-store sales for October.

Upbeat economic data: Investors were initially encouraged by a report that showed the U.S. economy perked up slightly this summer, driven largely by businesses re-stocking their shelves, a rise in consumer spending, and the ongoing housing recovery.

Gross domestic product -- the broadest measure of economic activity -- rose at a 2.8% annual rate in the third quarter, according to the Bureau of Economic Analysis. That marked the fastest growth in a year and was stronger than economists had anticipated. A separate report showed initial jobless claims declined for the fourth straight week.

But the positive economic data also reignited speculation that the Federal Reserve may begin tapering its bond buying program, said analysts at Wells Fargo Advisors. The Fed's stimulus measures have been a major driver of the bull market over the past several years.

Investors will continue to keep close tabs on economic data, particularly readings on the job market. The October jobs report is due early Friday. Economists surveyed by CNNMoney expect 120,000 jobs were added last month.

ECB unexpectedly cuts rates: In Europe, it's all about the European Central Bank. The ECB said it cut a key interest rate to 0.25%, a sign of how fragile the European economic recovery is. European stock markets made modest gains in afternoon trading, keeping them near five-year highs.

Twitter Surges in Trading Debut After $1.82 Billion Share Sale via Bloomberg @ http://www.bloomberg.com/news/2013-11-07/twitter-raises-1-82-billion-pricier-value-than-facebook.html

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4:15 pm : The major averages ended on their lows after opening gains turned into broad-based losses. The S&P 500 fell 1.3% while the Nasdaq underperformed with a decline of 1.9%.

Prior to the open, the European Central Bank cut its key interest rate by 25 basis points to 0.25% after recent data suggested the price level is moving away from the ECB's inflation target. The rate cut fueled a surge in the dollar while also sparking a risk bid. However, the equity gains were capped after a better-than-expected headline Q3 GDP reading (2.8% versus 2.5% Briefing.com consensus) fostered renewed speculation about a potential tapering announcement coming sooner rather than later.

The immediate reaction in Treasuries also reflected a 'taper on' trade as bonds sold off, sending the 10-yr yield from its low to a session high. However, Treasuries returned to their best levels of the day as weakness among equities redirected some flows into safe-haven assets. The 10-yr yield ended lower by four basis points at 2.61%.

The Nasdaq paced today's decline as momentum names saw a continuation of yesterday's weakness. Facebook (FB 47.56, -1.56), LinkedIn (LNKD 211.47, -9.31), Priceline.com (PCLN 1022.89, -35.15), Tesla (TSLA 139.77, -11.39), and Yelp (YELP 61.83, -4.78), lost between 3.2% and 7.5% with Tesla seeing added pressure in reaction to reports of another car fire after the vehicle hit some debris on the road. The index was also pressured by Qualcomm (QCOM 67.09, -2.65) after the company reported disappointing results combined with cautious guidance.

Even though the tech-heavy Nasdaq lagged, the traditional technology sector (-1.2%) ended ahead of the S&P along with two other top-weighted sectors-financials (-1.1%) and health care (-0.9%).

Although equities registered broad losses, a pocket of strength could be found in the shares of Twitter (TWTR 44.90, +18.90), which began trading as a public company at $45.10 per share after pricing the IPO at $26. The social media stock ended the session below its opening price, but 72.7% above its IPO price.

With stocks ending on their lows, the CBOE Volatility Index (VIX 13.90, +1.23) finished near its high.

Today's selling invited above-average participation as more than 900 million shares changed hands on the floor of the New York Stock Exchange.

Taking another look at today's data, GDP increased 2.8% in the third quarter. That is up from a 2.5% increase in Q2 2013 and matches the best gain since Q3 2012. The Briefing.com consensus expected GDP to increase 1.9%. Final sales were up 2.0%, down slightly from a 2.1% increase in the second quarter.

Overall, the economy performed in the third quarter in a similar fashion to how it performed in the second quarter. Inventories contributed slightly more to growth (0.8 percentage points vs. 0.4 percentage points), which was the main difference between the two quarters. Inventories have now increased for three consecutive quarters and are due for a normal pullback soon. That could leave headline GDP growth coming in weaker in the coming quarters.

Separately, the weekly initial claims level declined to 336,000 from an upwardly revised 345,000 (from 340,000). The Briefing.com consensus expected the initial claims level to fall to 335,000. The Department of Labor stated that there were no unusual factors in the initial claims data. After two months of biases from computer glitches and the government shutdown, the initial claims report is giving a clean reading of the labor situation.

Unfortunately, the claims level is almost exactly where it was prior to the problems in the claims data. Layoff levels have remained steady and the private sector is very comfortable with its current labor needs.

Tomorrow, October non-farm payrolls, September personal income, personal spending, and core PCE prices will all be reported at 8:30 ET while the preliminary reading of the November Michigan Sentiment Survey will be released at 9:55 ET.

Nasdaq +27.8% YTD
Russell 2000 +27.1% YTD
S&P 500 +22.5% YTD
DJIA +19.0% YTD

DJ30 -152.90 NASDAQ -74.61 SP500 -23.34 NASDAQ Adv/Vol/Dec 576/2.15 bln/1980 NYSE Adv/Vol/Dec 660/909.6 mln/2363

3:30 pm :

Dec gold and Dec silver sold off to their respective session lows of $1296.00 and $21.38 per ounce in early morning floor action as the dollar index rallied following the European Central Bank's decision to cut its key interest rate by 25 basis points to 0.25%.
Gold managed to erase some of the earlier losses and settled 0.7% lower at $1308.70 per ounce. Silver inched higher for the remainder of the session and closed at $21.66 per ounce, shaving losses to 0.5%. Dec crude oil also traded lower today as the stronger dollar index weighed on the commodities space.
The energy component touched a session low of $93.81 per barrel in late morning pit trade but erased some of the loss and settled at $94.24 per barrel, or 0.5% lower.
Dec natural gas brushed a session high of $3.62 per MMBtu moments after floor trade opened but trended lower after inventory data for the week ending Nov 1 showed that natural gas inventories rose by 35 bcf when a build of 35-40 bcf was expected. It gave up most of the earlier gains and settled just 0.6% higher at $3.52 per MMBtu.

DJ30 -136.66 NASDAQ -70.99 SP500 -21.97 NASDAQ Adv/Vol/Dec 585/1859.5 mln/1959 NYSE Adv/Vol/Dec 663/602 mln/2334

3:00 pm : With one hour remaining in the session, the S&P 500 trades roughly five points off its low.

According to the Federal Reserve, consumer credit increased by $13.7 billion in September. This follows the prior month's revised increase of $14.2 billion, and is higher than the $11.0 billion that had been broadly expected among economists polled by Briefing.com.DJ30 -105.41 NASDAQ -59.19 SP500 -17.08 NASDAQ Adv/Vol/Dec 616/1.68 bln/1912 NYSE Adv/Vol/Dec 723/546.8 mln/2253

2:30 pm : There hasn't been much let up to the selling as the major averages hover near their recently-established lows with the S&P 500 down 1.0%. Although today's session has turned out to be a one-way street for equities, the same cannot be said for the foreign exchange market.

The dollar spiked following the ECB rate cut with a second leg higher taking place after the advance Q3 GDP report topped expectations. The Index notched its high near 81.50, but has been retreating steadily since. Currently, the Dollar Index holds just about a quarter of today's advance, trading higher by 0.3% at 80.73.

Notably, the euro plunged over 200 pips against the dollar in early action, but the common currency has been climbing steadily off its low, trimming its decline to roughly 80 pips versus the greenback. The pair hovers just below 1.3450 at this juncture.

On a separate note, the September Consumer Credit report will be released at 15:00 ET.DJ30 -110.31 NASDAQ -59.71 SP500 -18.14 NASDAQ Adv/Vol/Dec 632/1.54 bln/1890 NYSE Adv/Vol/Dec 704/500.1 mln/2265

2:00 pm : Equity indices are back on their lows with the Nasdaq down 1.3%. Momentum names continue to trade broadly lower but biotechnology has ticked up off the lows. The iShares Nasdaq Biotechnology ETF (IBB 200.00, -1.07) is lower by 0.5% after being down as much as 1.0% earlier. Including today's decline, the biotech ETF is now down 4.7% this quarter, but remains up over 45.0% this year.

The outperformance of biotechnology has contributed to the relative strength of the health care sector, which holds a loss of 0.3%. The utilities sector (-0.7%) also outperforms but consumer staples (-1.3%) and telecom services (-1.4%) lag.DJ30 -97.02 NASDAQ -54.98 SP500 -16.33 NASDAQ Adv/Vol/Dec 677/1.43 bln/1818 NYSE Adv/Vol/Dec 749/462.9 mln/2211

1:30 pm : The major averages remain mired in red figures as buyers have backed away from recent efforts, cognizant that the response to seemingly supportive developments -- ECB rate cut, successful Twitter (TWTR 45.87, +19.87) IPO, the Dow hitting a new high yesterday, and Q3 GDP checking in better than expected -- has been underwhelming thus far.

Accordingly, there is perhaps an underlying sense that a near-term top could be forming and that the long talked about pullback could be in the offing. How the market finishes today could dilute that thinking or enhance it if bids drop off and the major averages finish at their lows for the session.

There is of course still plenty of time for a comeback in today's trading, but the current lack of leadership and the relative weakness in many of the favorite momentum stocks suggest it will be a tough climb. You can never count this market out given its relentless faith in monetary policy support, but with a gain of nearly 7.0% since October 8, it is evident to many that the market is overextended on a short-term basis.DJ30 -69.71 NASDAQ -50.31 SP500 -12.47 NASDAQ Adv/Vol/Dec 699/1.33 bln/1791 NYSE Adv/Vol/Dec 847/425 mln/2100

1:00 pm : At midday, equity indices hover in the red despite registering modest opening gains. The higher open followed the European Central Bank decision to cut its key interest rate by 25 basis points to 0.25%. While the rate cut sparked a risk bid and contributed to dollar strength (Dollar Index +0.5% at 80.91), the gains were capped once the advance third quarter GDP report crossed the wires (+2.8% versus +2.5% Briefing.com consensus).

Although the report surpassed estimates, the above-consensus headline number re-invited speculation about the timeline for a potential tapering announcement. Treasuries fell to lows in reaction to the report, but have since regained all of their losses. The 10-yr yield is lower by four basis points at 2.61%.

The Dow (-0.3%) and S&P 500 (-0.5%) have lifted off their worst levels of the session while the Nasdaq (-1.1%) remains near its low as momentum names extend yesterday's losses. Facebook (FB 48.32, -0.80), LinkedIn (LNKD 215.50, -5.28), Priceline.com (PCLN 1044.17, -13.87), and Tesla (TSLA 142.35, -8.80) hold losses between 1.2% and 5.8% with Tesla seeing additional weakness amid reports of another car fire after the vehicle hit some debris on the road.

Disappointing quarterly results and guidance from Whole Foods (WFM 58.72, -5.78) and Qualcomm (QCOM 66.54, -3.20) have also weighed on the Nasdaq.

Elsewhere, the broader market has been able to trim its losses as two of the three most influential sectors, financials and healthcare, outperform. Meanwhile, the top-weighted sector, technology, lags with a loss of 0.6%.

Although the S&P has ticked up off its low, the two consumer sectors (discretionary and staples) remain weak as both trade with losses of at least 1.0%.

Taking another look at today's data, GDP increased 2.8% in the third quarter. That is up from a 2.5% increase in Q2 2013 and matches the best gain since Q3 2012. The Briefing.com consensus expected GDP to increase 1.9%. Final sales were up 2.0%, down slightly from a 2.1% increase in the second quarter.

Overall, the economy performed in the third quarter in a similar fashion to how it performed in the second quarter. Inventories contributed slightly more to growth (0.8 percentage points vs. 0.4 percentage points), which was the main difference between the two quarters. Inventories have now increased for three consecutive quarters and are due for a normal pullback soon. That could leave headline GDP growth coming in weaker in the coming quarters.

Separately, the weekly initial claims level declined to 336,000 from an upwardly revised 345,000 (from 340,000). The Briefing.com consensus expected the initial claims level to fall to 335,000. The Department of Labor stated that there were no unusual factors in the initial claims data. After two months of biases from computer glitches and the government shutdown, the initial claims report is giving a clean reading of the labor situation.

Unfortunately, the claims level is almost exactly where it was prior to the problems in the claims data. Layoff levels have remained steady and the private sector is very comfortable with its current labor needs.DJ30 -48.58 NASDAQ -42.36 SP500 -9.81 NASDAQ Adv/Vol/Dec 740/1.24 bln/1735 NYSE Adv/Vol/Dec 907/399.2 mln/2037

12:30 pm : Equity indices have continued their rebound with the S&P 500 trimming its loss to 0.4%. As a result of the ongoing recovery, industrials and health care now hover just above their respective flat lines. Meanwhile, the two consumer sectors continue to weigh on the broader market with staples lower by 0.9% and the discretionary space off 0.8%.

Elsewhere, the Nasdaq continues to trade lower by 1.0% as momentum names like Facebook (FB 48.31, -0.81), LinkedIn (LNKD 215.08, -5.70), and Tesla (TSLA 141.08, -10.08) remain weak.DJ30 -22.15 NASDAQ -37.60 SP500 -6.75 NASDAQ Adv/Vol/Dec 807/1.15 bln/1668 NYSE Adv/Vol/Dec 982/371.9 mln/1955

12:00 pm : The major averages are attempting to rebound off their lows, but they have their work cut out for them. The S&P 500 trades lower by 0.5% with six sectors showing losses of at least 0.6%. However, the three top-weighted sectors trade mixed with respect to the S&P.

The largest S&P sector, technology, underperforms with a loss of 0.7% while the second and third-largest groups, financials and health care (in that order), sport slim losses of just 0.1% and 0.2%, respectively.

Treasuries remain near their lows with the 10-yr yield off four basis points at 2.61%.DJ30 -31.53 NASDAQ -43.77 SP500 -8.23 NASDAQ Adv/Vol/Dec 718/1.02 bln/1741 NYSE Adv/Vol/Dec 873/335.5 mln/2037

11:30 am : Sellers remain in control as the major averages sit at their lowest levels of the session. The Nasdaq (-1.4%) and Russell 2000 (-1.2%) lead to the downside while the Dow (-0.4%) and S&P 500 (-0.7%) outperform.

The continued selling has fueled some demand for protection as the CBOE Volatility Index (VIX 13.48, +0.81) trades higher by 6.4%. Elsewhere, Treasury yields have returned to their lows after seeing some volatility in reaction to a better-than-expected Q3 GDP reading. The 10-yr yield is lower by four basis points at 2.61%.

Also of note, markets in Great Britain, Italy, and Spain have reversed after displaying strength in reaction to the ECB rate cut. Italy has paced the weakness with the MIB trading lower by 2.0%.DJ30 -61.39 NASDAQ -52.84 SP500 -12.51 NASDAQ Adv/Vol/Dec 653/918.8 mln/1791 NYSE Adv/Vol/Dec 751/301.6 mln/2143

11:00 am : Equities have continued their retreat off the opening highs. The Nasdaq, which was the first index to demonstrate weakness, has widened its loss to 1.0% with momentum names like Facebook (FB 48.59, -0.53), LinkedIn (LNKD 215.55, -5.23), Priceline.com (PCLN 1037.38, -20.66), and Tesla (TSLA 140.73, -10.43) seeing a continuation of yesterday's selling.

Meanwhile, the broader S&P 500 is lower by with the discretionary sector (-0.9%) leading to the downside. Also of note, financials (-0.1%) outperform after trailing the broader market throughout the week.

Separately, shares of Twitter (TWTR 47.17, +21.17) opened for trading at $45.10 after pricing the IPO at $26.DJ30 -24.08 NASDAQ -39.66 SP500 -7.88 NASDAQ Adv/Vol/Dec 768/740.5 mln/1623 NYSE Adv/Vol/Dec 886/244.9 mln/1975

10:35 am : Crude oil remains near its LoD, gold and silver continued to climb higher, copper is almost flat and natural gas is near its HoD. Crude oil, gold and silver dropped in early morning trade following a spike in the dollar index.

Precious metals have since recovered most losses, but crude oil remains weak. Dec crude oil just hit a new LoD and is now -1.0% at $93.85/barrel.

Ahead of weekly inventory data, natural gas was just under its HoD. Following the data, natural gas showed a muted reaction and the Dec contract is now +2.3% at $3.58/MMBtu.

Dec gold is now -0.5% at $1311.80, Dec silver is -0.5% at $21.66/oz and Dec copper is -0.3% at $3.23/lb.DJ30 -42.33 NASDAQ -48.18 SP500 -10.23 NASDAQ Adv/Vol/Dec 693/593.1 mln/1649 NYSE Adv/Vol/Dec 832/192 mln/2022

10:00 am : Equity indices have slid to their lows, pressuring the Nasdaq (-0.3%) and S&P 500 (-0.1%) into the red.

Individual sectors reflect a degree of indecision as five groups trade in the green while five hold losses between 0.1% (technology) and 0.7% (energy). On the upside, financials, health care, and industrials hold modest gains close to 0.3% apiece.

Given the retreat from the opening highs, the CBOE Volatility Index (VIX 13.11, +0.44) is higher by 3.5% as some participants display demand for near-term downside protection.DJ30 +16.83 NASDAQ -13.75 SP500 -1.20 NASDAQ Adv/Vol/Dec 1078/332.6 mln/1204 NYSE Adv/Vol/Dec 1246/121.2 mln/1530

09:45 am : The major averages sport modest early gains with the Nasdaq (+0.1%) trailing the remaining indices.

Although the busy portion of the Q3 earnings season is now in the rear-view mirror, two Nasdaq components are seeing notable post-earnings weakness. Namely, Whole Foods (WFM 58.47, -6.00) and Qualcomm (QCOM 66.91, -2.83) hold respective losses of 9.3% and 4.1% after both reported disappointing results and issued cautious guidance.

A handful of other components have also pressured the tech-heavy index as Tesla (TSLA 140.96, -10.20) and Microsoft (MSFT 37.89, -0.29) trade lower by 6.5% and 0.6%, respectively.

Treasuries have regained a portion of their losses as the 10-yr yield trades lower by three basis points at 2.62%.DJ30 +45.15 NASDAQ +4.82 SP500 +3.80 NASDAQ Adv/Vol/Dec 1379/180.2 mln/821 NYSE Adv/Vol/Dec 1572/82.5 mln/1145

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: -0.30. Equity indices are poised for an upbeat start to today's session following a busy morning of economic news. Index futures spiked to highs after the European Central Bank cut its key interest rate by 25 basis points to 0.25%. The rate cut weighed on the euro, sending the single currency lower by more than 150 pips below 1.3350 against the dollar.

Following the ECB announcement, the dollar saw additional strength in reaction to a better-than-expected advance Q3 GDP report, which reflected growth of 2.8% (Briefing.com consensus 1.9%). However, the reading caused futures to slip from their highs as accelerating growth would make the Federal Reserve less likely to maintain its current policy stance. Treasury yields returned to their overnight levels, jumping from 2.61% to 2.64%.

Shares of Twitter (TWTR) are expected to garner significant attention at the open after the stock priced its initial public offering at $26.00 per share last evening.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +0.20. The S&P 500 futures continue to hover near their pre-market highs (+0.3%).

Markets across most of Asia finished in the red as a quiet trade persisted. China's Shanghai Composite (-0.5%) and Hong Kong's Hang Seng (-0.7%) saw moderate losses as traders remain on edge ahead of this weekend's Third Plenum of Communist Party policy makers, which will likely produce an economic blueprint for the next decade. Meanwhile, Japan's Nikkei (-0.8%) was pressured as participants shed risk ahead of tomorrow's U.S. nonfarm payroll report. Gains were limited to some of the emerging markets such as Indonesia's Jakarta Composite (+0.8%) and Malaysia's Bursa Malaysia (+0.2%). Speaking of Malaysia, Bank Negara Malaysia held its key rate unchanged at 3.00%, as expected. Also notable, S&P warned India of a possible downgrade. Data from the region saw Australia's employment change print 1.1K (10.3K expected) while its unemployment rate held steady at an upwardly revised 5.7% (5.6% previous). Elsewhere, Taiwan's trade surplus shrank to TWD10.2 billion (TWD67.7 billion previous) and Thai consumer confidence slipped to 76.6 (77.9 previous). Lastly, Japan's Leading Index improved to 109.5 from 106.8 (109.4 expected).

In Japan, the Nikkei closed lower by 0.8% as trade slipped back below the 50-day moving average. Automakers were weak for a second day as Mitsubishi Motors and Toyota Motor gave up 1.4% and 1.3%, respectively.
Hong Kong's Hang Seng shed 0.7% as only a handful of names saw gains. Financial and energy names were among the laggards as Bank of Communications lost 1.8% and Cnooc gave up 1.2%. On the upside, Lenovo added 2.1% after its earnings beat.
In China, the Shanghai Composite lost 0.5% as trade slid to a two-month low.

Major European indices trade at their best levels of the session following the European Central Bank decision to cut its key interest rate by 25 basis points to 0.25%. The euro tumbled over 150 pips against the dollar in reaction to the decision, sending the single currency below 1.3350 against the greenback. Elsewhere, the Bank of England made no changes to its current policy stance, maintaining its key interest rate and the purchasing program at their respective 0.5% and GBP375 billion. In economic data, Germany's industrial production fell 0.9% month-over-month (-0.2% expected, 1.6% prior) and Spain's industrial production rose 1.4% month-over-month (-1.5% forecast, -2.1% last). Elsewhere, Swiss SECO Consumer Climate improved to -5 from -9 (-4 consensus).

Great Britain's FTSE is higher by 0.5% as miners display strength. Randgold Resources trades up 7.2% after reporting better-than-expected earnings. Asset manager Schroders trades lower by 2.3% despite reporting strong results.
In Germany, the DAX sports a gain of 1.6% as Commerzbank leads. The bank is higher by 11.4% following upbeat results. On the downside, HeidelbergCement is lower by 4.4% in reaction to disappointing earnings.
In France, the CAC trades up 1.5% as 35 of 40 names register gains. Financials lead with Credit Agricole and Societe Generale up 7.0% and 5.0%, respectively.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +2.70. The S&P 500 futures trade higher by 0.4%.

The advance third quarter GDP showed growth of 2.8%, which was better than the 1.9% increase that had been expected by the Briefing.com consensus. Meanwhile, the third quarter GDP Deflator came in at +1.9% while the Briefing.com consensus expected a reading of +1.4%.

Separately, the latest weekly initial jobless claims count totaled 336,000, which was a bit higher than the 335,000 that had been expected by the Briefing.com consensus. Today's tally was below the revised prior week count of 345,000. As for continuing claims, they rose to 2.868 million from 2.864 million.

08:05 am : [BRIEFING.COM] S&P futures vs fair value: +7.20. Nasdaq futures vs fair value: +5.20. U.S. equity futures hover near their pre-market highs with the S&P 500 futures up 0.3%. Futures jumped in reaction to the European Central Bank cutting its key interest rate by 25 basis points to 0.25%.

Reviewing overnight developments:

Asian markets ended on a lower note. China's Shanghai Composite -0.5%, Hong Kong's Hang Seng -0.7%, and Japan's Nikkei -0.8%.
In regional economic data:
Japan's Leading Index improved to 109.5 from 106.8 (109.4 expected).
Australia's employment change came in at 1,100 (10,000 expected, 3,300 prior) as participation rate held steady at 64.8% (64.9% forecast). The unemployment rate also held steady at 5.7%, as expected. Separately, the AIG Construction Index increased to 54.4 from 47.6.
Among news of note:
China's big four banks reported October new loans in the amount of CNY182 billion, which marks the lowest monthly total of the year.

Major European indices trade at their best levels of the session. Great Britain's FTSE +0.4%, France's CAC +1.1%, and Germany's DAX +1.2%.
Participants received several economic data points:
The European Central Bank cut its key interest rate by 25 basis points to 0.25%.
The Bank of England made no changes to its current policy stance, maintaining its key interest rate and the purchasing program at their respective 0.5% and GBP375 billion.
Germany's industrial production fell 0.9% month-over-month (-0.2% expected, 1.6% prior).
Spain's industrial production rose 1.4% month-over-month (-1.5% forecast, -2.1% last).
Swiss SECO Consumer Climate improved to -5 from -9 (-4 consensus).
Looking at news:
The euro tumbled over 100 pips against the dollar in reaction to the ECB decision to cut its key interest rate by 25 basis points. The single currency currently trades below 1.3400 against the dollar.

In U.S. corporate news:

Activision Blizzard (ATVI 16.19, -0.34): -2.1% after issuing below-consensus fourth quarter earnings and revenue guidance along with its earnings beat on above-consensus revenue.
Mondelez (MDLZ 32.45, -0.99): -3.0% after its cautious Q4 guidance overshadowed its one-cent bottom-line beat.
Noodles & Co (NDLS 42.00, -4.68): -10.0% after reporting in-line earnings on below-consensus revenue.
Stratasys (SSYS 119.50, +5.15): +4.5% following its earnings beat on above-consensus revenue.
Qualcomm (QCOM 66.70, -3.04): -4.4% after missing earnings estimates and guiding first quarter earnings and revenue below consensus.
Whole Foods Market (WFM 58.35, -6.12): -9.5% after missing revenue expectations and lowering its full-year 2014 earnings and revenue guidance below consensus.

Weekly initial claims and the advance Q3 GDP reading will be reported at 8:30 ET while the September Consumer Credit report will be released at 15:00 ET.

07:23 am : [BRIEFING.COM] S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: -6.30.

07:23 am : Nikkei...14228.44...-108.90...-0.80%. Hang Seng...22881.03...-155.90...-0.70%.

07:23 am : FTSE...6733.20...-8.50...-0.10%. DAX...9048.29...+7.40...+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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