TheStrategyLab.com Free Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods
It is currently Thu Aug 16, 2018 7:10 am

All times are UTC - 5 hours




Post new topic Reply to topic Bookmark and Share  [ 1 post ] 
Author Message
 Post subject: November 12th Tuesday Trade Results - Profit $8270.00
PostPosted: Tue Nov 12, 2013 8:44 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3202
Location: Canada
Image

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)

Attachment:
111213-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+8270.00.png
111213-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+8270.00.png [ 115.29 KiB | Viewed 95 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $220.00 dollars or +2.20 points, Emini ES ($ES_F) futures @ $7,750.00 dollars or +155.00 points, Light Crude Oil CL ($CL_F) futures @ $300.00 dollars or +0.30 points, Gold GC ($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 @ $8,270.00 dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

In addition, all of my trades were posted real-time in the chat room. You can read today's chat room logs for details about each one of my trades via price action trading from entry to exit (e.g. time, price, contract size) along with price action commentary as the trade traversed to its completion...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=123&t=1648

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

-----------------------------

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 Snap Winning Streak

Attachment:
111213-Key-Price-Action-Markets.png
111213-Key-Price-Action-Markets.png [ 518.43 KiB | Viewed 76 times ]

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

NEW YORK (CNNMoney)
The bull market took a breather on Tuesday, with stocks retreating from their recent highs.

The S&P 500 and Dow closed lower, and the Nasdaq ended flat, snapping a two-day winning streak. Still, stocks are not far off from their record highs.

Overall, the S&P 500, Dow and Nasdaq are all up more than 20% in 2013, thanks to a slowly recovering economy and continued bond buying from the Fed.

Investors are fixated on one question: When will the Federal Reserve be ready to start slowing its stimulus program?

Stronger-than-expected reports on economic growth and the job market have led some economists to expect the Fed to announce it will slow its stimulus program at its next meeting in December.

"The market is basically doing pretty good, considering that tapering is back on the table," said Peter Cardillo, chief market economist at Rockwell Global Capital.

Investors previously thought the Fed may wait until the spring to taper. But now that some think the Fed could pull back as soon as next month, interest rates are rising again. The benchmark 10-year Treasury yield temporarily hit 2.78% Tuesday morning -- its highest level in about two months.

Minneapolis Fed President Narayana Kocherlakota and Atlanta Fed President Dennis Lockhart both argued in speeches Tuesday afternoon that the Fed still needs to do more to aid the job market.

"The labor market remains disturbingly weak," Kocherlakota said. "The good news is that, with low inflation, the FOMC has considerable monetary policy capacity at its disposal with which to address this problem."

Kocherlakota is scheduled to rotate into a voting role on the Fed's policymaking committee in January.

Related: Fear & Greed Index still shows greed

Stocks on the move: Dish Network (DISH, Fortune 500) shares rose 6% after the satellite TV company reported stronger-than-expected earnings and revenue in the third quarter.

"Talk about momentum ignition," noted StockTwits user SMU_Trader.

Meanwhile, DR Horton (DHI), one of the nation's largest homebuilders, rose about 4.8%, after reporting earnings in line with Wall Street's expectations. Other homebuilders Lennar (LEN). Toll Brothers (TOL) and PulteGroup (PHA) also rose slightly.

FedEx (FDX, Fortune 500) shares 1.6% rose after activist investor Dan Loeb said his hedge fund, Third Point LLC, owns the stock and that he likes the company's CEO Fred Smith. Loeb is known for demanding changes at companies like Yahoo (YHOO, Fortune 500) and Sony (SNE), but investors aren't sure yet what exactly he has in store for FedEx.

"Dan Loeb likely not an activist at FedEx yet," noted trader jakem1331. "position could be passive, or could be boosted in the future."

US Airways (LCC, Fortune 500) shares were briefly halted after the company announced it had reached a settlement with the Justice Department in an antitrust case. US Airways has plans to buy American Airlines (AAMRQ, Fortune 500), creating the world's largest airline, and the government claimed the deal would "substantially lessen competition" for commercial air travel.

The settlement requires American Airlines and US Airways to sell off facilities at seven airports in order to complete the merger. By giving up some key flights, the deal "will allow for more competition," notes StockTwits user StoneFoxCapital.

US Airways shares closed 1% higher after the announcement, and the stock is up 74% this year.

Investors also seemed to think the deal would be good for the rest of the industry. Shares of rival airlines Delta (DAL, Fortune 500), Southwest (LUV, Fortune 500), United Continental (UAL, Fortune 500) and JetBlue (JBLU, Fortune 500) all rose.

* China pledges greater role for markets

European markets ended their trading day lower. Most Asian markets, however, closed on a positive note, as China's Communist Party wrapped up a four-day meeting with a pledge to allow markets to play a bigger role in allocating resources. Japan's Nikkei spiked 2.2% after the country reported a larger-than-expected trade surplus in September.

Image



Tue, Nov 12, 2013, 8:41pm EST - US Markets are closed
S&P 500 -0.24%, Dow -0.21%, Nasdaq +0.00%

4:10 pm : The S&P 500 shed 0.2% after spending the entire session in negative territory. The index sold off steadily through the first four hours of action, but managed to regain most of its losses by the close. Meanwhile, the Nasdaq ended flat as the relative strength of technology (+0.3%) underpinned the index.

The tech sector was one of just two advancers among cyclical groups as top components like Cisco Systems (CSCO 23.73, +0.29), Oracle (ORCL 34.70, +0.33), and Qualcomm (QCOM 68.51, +0.89) provided leadership. Chipmakers also rallied with the PHLX Semiconductor Index adding 0.6%.

Elsewhere, the industrial sector settled just above its flat line with transports contributing to the outperformance. The Dow Jones Transportation Average rose 0.7% as airlines registered broad gains after AMR (AAMRQ 12.00, +2.48) and US Airways (LCC 23.52, +0.25) confirmed their settlement with the Department of Justice. JetBlue (JBLU 8.16, +0.47) was the leader among transports, climbing 6.1%.

Although the S&P climbed off its lows during the final 90 minutes, the index was unable to return into positive territory as energy (-0.9%) and financials (-0.9%) weighed.

The energy sector was pressured by persistent weakness in crude oil. The energy component settled lower by 2.1% at $93.12 per barrel.

Meanwhile, other commodities did not fare much better as copper (-1.2% at $3.22/lb), gold (-1.1% at $1267.50/ozt), and silver (-2.6% at $20.72/ozt) ended on their lows.

Countercyclical sectors settled on a mixed note as consumer staples (+0.1%), health care (-0.1%), and telecom services (+0.3%) outperformed while utilities (-0.9%) lagged throughout the session.

Treasuries ended modestly lower with the 10-yr yield up two basis points at 2.78%.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET while October export prices ex-agriculture and import prices ex-oil will be reported at 8:30 ET. The day's data will be topped off with the 14:00 ET release of the October Treasury budget.

Nasdaq +29.8% YTD
Russell 2000 +29.7% YTD
S&P 500 +23.9% YTD
DJIA +20.2% YTD

DJ30 -32.43 NASDAQ +0.13 SP500 -4.20 NASDAQ Adv/Vol/Dec 1142/1.72 bln/1402 NYSE Adv/Vol/Dec 1108/652.9 mln/1921

3:35 pm :

Dec crude oil fell for the first time in three sessions, dipping below the $93.00 per barrel level in late afternoon pit trade. The energy component trended lower after brushing a session high of $95.22 per barrel and eventually settled with a 2.1% loss at $93.12 per barrel.
Dec natural gas, on the other hand, traded higher today, rising to a session high of $3.66 per MMbtu. It pulled back heading into the close and settled at $3.62 per MMBtu, or 1.1% higher.
Dec gold extended losses for a fourth consecutive session. It touched a session high of $1283.60 per ounce at pit trade open but retreated into negative territory later in the session. It settled with a 0.8% loss at $1271.20 per ounce, just above its session low of $1270.70 per ounce.
Dec silver spent all of today's pit trade in the red. It pulled back from its session high of $21.25 per ounce and settled at its session low of $20.77 per ounce, booking a 2.4% loss.

DJ30 -29.31 NASDAQ -0.31 SP500 -4.12 NASDAQ Adv/Vol/Dec 1162/1467.5 mln/1374 NYSE Adv/Vol/Dec 1048/429 mln/1964

3:00 pm : The S&P 500 has risen off its lows as today's session enters its final hour. Although the benchmark index has been stuck in a downtrend throughout the session, its loss has been limited in scope.

Despite today's decline, the S&P remains up 0.7% in November while the Dow outperforms with a month-to-date gain of 1.4%. Also of note, the Nasdaq (-0.1%) trades ahead of the other indices today, but remains lower by 0.1% for the month.
DJ30 -29.17 NASDAQ -2.55 SP500 -3.97 NASDAQ Adv/Vol/Dec 1112/1.32 bln/1406 NYSE Adv/Vol/Dec 1009/384.7 mln/1989

2:35 pm : The major averages are in the midst of another rebound effort after previous attempts were met with additional selling. Interestingly, the technology sector (+0.2%) has held a modest a gain despite the persistent weakness.

While the tech sector continues to outperform, its largest component, Apple (AAPL 519.59, +0.54), has surrendered its gain. Meanwhile, other large sector members like Cisco Systems (CSCO 23.75, +0.30), Oracle (ORCL 34.68, +0.31), and Qualcomm (QCOM 68.08, +0.46) continue to hold gains between 0.7% and 1.3%.DJ30 -55.48 NASDAQ -9.37 SP500 -7.05 NASDAQ Adv/Vol/Dec 996/1.24 bln/1507 NYSE Adv/Vol/Dec 874/360.8 mln/2127

2:00 pm : Equities have slumped to fresh lows as sellers remain in control. Financials (-1.2%) and utilities (-1.2%) continue leading to the downside, and the persistent underperformance of energy (-0.9%) has also weighed on the broader market.

As mentioned earlier, the energy sector has been pressured by weakness in crude oil. The energy component has been selling off throughout the session, and it currently trades lower by 1.8% at $93.40 per barrel.

Meanwhile, the other commodity-related sector, materials, trades in-line with the S&P 500 even as the underlying metals languish near their lows. Copper futures trade lower by 1.3% at $3.218 per pound while gold futures hold a loss of 0.7% at $1271.50 per troy ounce.DJ30 -60.49 NASDAQ -11.20 SP500 -7.76 NASDAQ Adv/Vol/Dec 948/1.13 bln/1545 NYSE Adv/Vol/Dec 844/325.9 mln/2141

1:35 pm : Equity indices have ticked up off their lows, but they continue to hold the bulk of their losses. Notably, the financial sector (-1.0%), which retreated steadily through the first three hours of action, has held its level during the past hour.

Elsewhere, the recently concluded 3-yr note auction went off without a hitch. The auction saw an above-average bid/cover ratio of 3.46x as direct bidders took 19.7% of the supply while indirect bidders picked up 33.3%.

The benchmark 10-yr yield was largely unaffected by the auction as it continues to trade higher by two basis points at 2.77%.DJ30 -51.28 NASDAQ -10.09 SP500 -6.78 NASDAQ Adv/Vol/Dec 966/1.06 bln/1514 NYSE Adv/Vol/Dec 879/300.2 mln/2093

1:00 pm : At midday, the S&P 500 trades lower by 0.3% after spending the entire first half of the session in the red. The Dow and Nasdaq made a couple brief appearances in positive territory, but the two indices also hover near their lows at this juncture.

The financial space (-1.0%) has lagged from the open, but the S&P did its best to ignore the weakness in the second-largest sector through the first two hours of action. However, the broader market succumbed to selling pressure once other influential groups like energy (-0.6%) and consumer discretionary (-0.4%) slid to their respective lows.

The discretionary sector has been pressured by media names as Comcast (CMCSA 46.88, -0.47) and Disney (DIS 67.61, -0.73) hold losses close to 1.0% apiece. Meanwhile, homebuilders displayed early strength before succumbing to broader selling pressure. The early strength took place after DR Horton (DHI 18.25, +0.19) reported in-line earnings on below-consensus revenue.

On the upside, only technology (+0.3%) and telecom services (+0.2%) trade in positive territory. The tech sector has drawn strength from some of its top components as Apple (AAPL 521.23, +2.18), Intel (INTC 24.41, +0.24), and Qualcomm (QCOM 68.10, +0.48) register gains between 0.4% and 1.0%.

Also of note, the industrial sector (-0.2%) trades ahead of the broader market as transports underpin the sector. The Dow Jones Transportation Average sports an advance of 0.5% with airlines providing leadership.

Treasuries hover near their lows with the 10-yr yield up two basis points at 2.77%.DJ30 -50.17 NASDAQ -10.65 SP500 -6.40 NASDAQ Adv/Vol/Dec 926/983.2 mln/1533 NYSE Adv/Vol/Dec 865/276.8 mln/2089

12:30 pm : The S&P 500 has widened its loss to 0.4% as the retreat continues. The financial sector (-1.0%) has been a drag on the market throughout the session, and its continued weakness has caused other sectors to follow suit.

Outside of financials, only the utilities (-1.1%) space holds a loss close to 1.0%. Meanwhile, the next weakest sector, energy, trades lower by 0.7%.

Interestingly, the recent weakness in equities has not translated into bond strength. Treasuries have returned to their lows as the 10-yr yield trades higher by three basis points at 2.78%.DJ30 -56.93 NASDAQ -11.64 SP500 -6.88 NASDAQ Adv/Vol/Dec 912/902.2 mln/1541 NYSE Adv/Vol/Dec 822/251.2 mln/2107

12:00 pm : Recent action saw the S&P 500 make another attempt at climbing into the green, but the index was met with a swift rejection. The benchmark average has now slumped to a fresh session low as energy (-0.6%) and financials (-0.8%) dropped to their respective lows.

The energy sector has been pressured by continued weakness in crude oil. The energy component trades lower by 0.9% at $94.31 after spending the past 90 minutes in a steady slide.

Elsewhere, all major banks trade in negative territory, but only Wells Fargo (WFC 42.32, -0.43) holds a loss of 1.0%.DJ30 -47.10 NASDAQ -8.28 SP500 -5.07 NASDAQ Adv/Vol/Dec 998/805.2 mln/1438 NYSE Adv/Vol/Dec 950/222.2 mln/1961

11:30 am : Equity indices have drifted away from their respective flat lines as the continued weakness among energy (-0.5%), financials (-0.6%), and consumer discretionary shares (-0.3%) overshadows the outperformance of technology (+0.3%) and industrials (+0.1%).

Although the discretionary space hovers in the red, homebuilders trade mostly higher after DR Horton (DHI 18.42, +0.36) reported in-line earnings on below-consensus revenue. Meanwhile, the broader iShares Dow Jones US Home Construction ETF (ITB 21.71, +0.06) trades higher by 0.3%.DJ30 -22.56 NASDAQ -4.36 SP500 -2.58 NASDAQ Adv/Vol/Dec 1053/688.3 mln/1358 NYSE Adv/Vol/Dec 1067/189.7 mln/1809

11:00 am : The major averages have ticked up off their lows, but only the Nasdaq has been able to make a brief appearance in positive territory.

The Nasdaq trades just ahead of the remaining averages as the tech sector (+0.4%) continues building on its early strength. The largest sector component, Apple (AAPL 522.53, +3.48), outperforms with a gain of 0.7% while other top-weighted sector members trade with comparable gains.

Also of note, the industrial space has turned positive as transports underpin the sector. The Dow Jones Transportation Average is higher by 0.8% with airlines displaying strength. Delta Air Lines (DAL 27.97, +0.50) and United Continental (UAL 37.05, +1.74) hold respective advances of 1.5% and 4.4%.DJ30 -23.26 NASDAQ -4.10 SP500 -2.84 NASDAQ Adv/Vol/Dec 998/551.2 mln/1344 NYSE Adv/Vol/Dec 1014/154.9 mln/1817

10:30 am : Crude oil futures just took off and rallied to a new HoD, barely moving into positive territory at the same time. Crude showed some strength yesterday after Iran talks had failed in Geneva, but this didn't stop crude from trading in the red overnight and this morning. Following the recent rally here, Dec crude oil is flat at $95.14/barrel.

Natural gas found a bid in late overnight trading and has climbed higher since. Nat gas hit a new HoD of $3.64/MMBtu a short while ago and is now +1.7% at $3.63/MMBtu.

Gold has been choppy this morning, and in the overnight session, while silver has been in the red so far all day. Both precious metals rallied just after 7am EST, which almost pushed silver into positive territory. However, this did not hold and Dec silver is now -0.7% at $21.13/oz. Dec gold is -0.1% at $1279.50/oz. DJ30 +1.16 NASDAQ +0.69 SP500 -0.59 NASDAQ Adv/Vol/Dec 1030/412.2 mln/1259 NYSE Adv/Vol/Dec 1077/125 mln/1727

10:00 am : Equity indices have climbed off their lows, but they continue to sport slim losses. The Russell 2000 (-0.2%) is the weakest-performing index while the Dow hovers just below its flat line.

Most sectors remain in negative territory, but technology (+0.3%) has joined the telecom services sector (+0.4%) in the green. Chipmakers have contributed to the rebound as the PHLX Semiconductor Index trades higher by 0.3%.DJ30 -3.27 NASDAQ -3.56 SP500 -1.75 NASDAQ Adv/Vol/Dec 980/251.2 mln/1221 NYSE Adv/Vol/Dec 1030/81.2 mln/1713

09:45 am : The major averages began the session with modest losses as nine of ten sectors opened in the red. The telecom services space (+0.2%) is the only early advancer as AT&T (T 35.17, +0.14) contributes to the sector's relative strength.

Meanwhile, the remaining nine groups trade with losses that do not exceed 0.5%. Energy, financials, and utilities are the three weakest sectors, holding losses between 0.3% and 0.5%.

Treasuries have climbed to their best levels of the session, but the 10-yr yield remains higher by one basis point at 2.76%.DJ30 -0.90 NASDAQ -3.32 SP500 -2.22 NASDAQ Adv/Vol/Dec 947/170.2 mln/1168 NYSE Adv/Vol/Dec 969/62.5 mln/1729

09:13 am : [BRIEFING.COM] S&P futures vs fair value: -4.40. Nasdaq futures vs fair value: -11.80. The major averages are poised to register modest opening losses as the S&P 500 futures trade roughly five points below fair value. The lower start comes amid cautious action in Europe where major indices trade with modest losses while the euro hovers at its highest level of the session versus the dollar (1.3440).

Investors received a handful of quarterly earnings this morning, but none of the reports fall in the "market-moving" category. Homebuilders may take a cue from DR Horton (DHI 18.20, +0.14), as the company holds a pre-market gain of 0.8% despite reporting in-line earnings on below-consensus revenue.

Treasuries sport modest losses with the 10-yr yield up two basis points at 2.77%. The U.S. Treasury will auction 3-yr notes.

08:56 am : [BRIEFING.COM] S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -13.50. The S&P 500 futures trade lower by 0.3%.

Markets ended mixed across Asia as Japan's Nikkei (+2.2%) led and India's Sensex (-1.0%) lagged. The Nikkei's gains came as the yen weakened to a two-month low of 99.80 against the dollar following the the hot M2 money stock (4.1% year-over-year actual versus 3.9% expected) and disappointing Tertiary Industry Activity (-0.2% month-over-month versus 0.2% expected). Meanwhile, the weaker rupee (-1.0%) was a key contributor to the underperformance of India's Sensex, which fell for a sixth straight session. Bank Indonesia surprised markets by hiking its key rate 25 basis points to 7.50% (7.25% previous) in an effort to contain inflation. Data from the rest of the region was limited to Australia's disappointing NAB Business Confidence reading (5 actual versus 12 previous).

In Japan, the Nikkei closed higher by 2.2% as shares saw their biggest gain in two months. Exporters benefitted from the weaker yen as Sony and Advantest added 3.6% and 3.2%, respectively.
Hong Kong's Hang Seng finished lower by 0.7% amid widespread selling. Insurer AIA Group shed 1.9% and energy giant Cnooc gave up 1.6%.
In China, the Shanghai Composite added 0.8% as shares rallied despite the thin trade. Shipbuilders outperformed on reports government subsidies would be offered to help upgrade aging fleets. CSSC Jiangnan Heavy Industry was a leader, tacking on 3.7%.

Major European indices hover in the red, but their losses have been limited. Among news of note, the European Union has ironed out a budget for next year, agreeing to cut spending by 6.0%. Today's economic data focused on inflation as Germany's CPI slipped 0.2% month-over-month while the year-over-year reading increased 1.2%. Both figures met expectations. Separately, WPI decreased 1.0% month-over-month (-0.3% expected, 0.7% prior). Elsewhere, Great Britain's CPI ticked up 0.1% month-over-month (0.3% forecast, 0.4% last) while the year-over-year reading rose 2.2% (2.5% forecast, 2.7% prior). Also of note, core CPI rose 1.7% year-over-year (2.0% expected, 2.2% last) and input PPI slipped 0.6% month-over-month (-0.7% expected, -1.0% prior). Lastly, Italy's CPI slipped 0.2% month-over-month (-0.3% forecast, -0.3% last) while the year-over-year reading reflected an increase of 0.8% (0.7% expected, 0.7% prior).

Great Britain's FTSE trades lower by 0.3% as financials lag. Aberdeen Asset Management, Royal Bank of Scotland, and Standard Chartered are all down between 1.7% and 4.1%. Materials producer CRH outperforms with a gain of 3.3%.
In Germany, the DAX holds a loss of 0.3% as cyclical names lag. K+S and Lanxess trade lower by 1.1% and 3.0%, respectively. Continental outperforms with a gain of 1.2%.
France's CAC trades down 0.4% as 33 of 40 components register losses. Steelmakers ArcelorMittal and Vallourec hold respective losses of 1.4% and 0.9%. Exporter Renault outperforms with a gain of 1.5%.

08:30 am : [BRIEFING.COM] S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -12.50. The S&P 500 futures hold a loss of 0.3% after returning to their pre-market lows. Meanwhile, Treasuries hold modest losses as the 10-yr yield trades higher by two basis points at 2.77%.

The retreat in futures took place as the Dollar Index slipped to its lowest level of the morning (+0.1% at 81.17). The greenback weakness sent the euro to a session high, pushing EURUSD above 1.3420.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: -9.00. U.S. equity futures sport modest losses with the S&P 500 futures trading lower by 0.2%.

Looking at overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng -0.7%, China's Shanghai Composite +0.8%, and Japan's Nikkei +2.2% as USDJPY climbed above 99.50.
In regional economic data:
Japan's Tertiary Industry Activity Index slipped 0.2% month-over-month (0.2% expected, 0.6% prior). Separately, household confidence slipped to 41.2 from 45.4 (46.3 expected). Also of note, Machine Tool Orders jumped 8.4% year-over-year (-6.3% prior).
India's industrial production rose 2.0% year-over-year (3.5% expected, 0.6% last) while CPI jumped 10.1% year-over-year (9.9% expected, 9.8% prior).
Australia's NAB Business Survey held steady at -4.00 while NAB Business Confidence slipped to 5 from 12.
Among news of note:
According to the Chinese press, China International Capital Corp believes the Middle Kingdom may lower its 2014 GDP growth target to 7.0% from 7.5%.
Major European indices trade modestly lower. Great Britain's FTSE -0.2%, Germany's DAX -0.2%, and France's CAC -0.2%.
Looking at economic data:
Germany's CPI slipped 0.2% month-over-month while the year-over-year reading increased 1.2%. Both figures met expectations. Separately, WPI decreased 1.0% month-over-month (-0.3% expected, 0.7% prior).
Great Britain's CPI ticked up 0.1% month-over-month (0.3% forecast, 0.4% last) while the year-over-year reading rose 2.2% (2.5% forecast, 2.7% prior). Also of note, core CPI rose 1.7% year-over-year (2.0% expected, 2.2% last) and input PPI slipped 0.6% month-over-month (-0.7% expected, -1.0% prior).
Italy's CPI slipped 0.2% month-over-month (-0.3% forecast, -0.3% last) while the year-over-year reading reflected an increase of 0.8% (0.7% expected, 0.7% prior).
In news:
The European Union has ironed out a budget for next year, agreeing to cut spending by 6.0%.

In U.S. corporate news:

Cray (CRAY 20.71, -1.50): -6.8% after missing on earnings and revenue. However, the company guided full-year 2014 revenue above consensus.
DISH Network (DISH 49.49, +1.99): +4.2% after beating earnings expectations by 25 cents.
DR Horton (DHI 18.00, -0.06): -0.3% after reporting in-line earnings on below-consensus revenue.
Rackspace (RAX 45.22, -4.09): -8.3% following its bottom-line miss.

There is no notable data on today's economic calendar.

The U.S. Treasury will auction 3-yr notes.

07:48 am : [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -7.00.

07:48 am : Nikkei...14588.68...+318.80...+2.20%. Hang Seng...22901.41...-168.40...-0.70%.

07:48 am : FTSE...6714.46...-13.20...-0.20%. DAX...9094.03...-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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage
Market Update


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic Bookmark and Share  [ 1 post ] 

All times are UTC - 5 hours


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr