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 Post subject: November 25th Monday Trade Results - Loss $80.00
PostPosted: Mon Nov 25, 2013 10:37 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 @ ($80.00) dollars or -0.80 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Loss @ $80.00 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=1657

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.

Nasdaq topped 4,000. Dow hits record again

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

NEW YORK (CNNMoney)
The Nasdaq briefly topped 4,000 Monday for the first time since September 2000, but failed to close above that key level.

And while the tech-heavy Nasdaq did cross a big milestone, it is still well below its peak of above 5,000, which was set in March 2000.

The Dow managed to log another record closing high though, while the S&P 500 finished in the red after hitting a new all-time high earlier in the day.

Stocks ended mixed as investors took in a disappointing report on the housing market. Pending home sales dropped 0.6% in October from the prior month. That was the fifth straight decline. Economists expected a 1.3% increase. The housing recovery has been a big boon for the stock market this year, so signs of weakness are worrisome.

Meanwhile, investors seemed encouraged by a landmark deal reached between Iran and the United States, the United Kingdom, France, Russia, China and Germany over the weekend.

As part of the agreement, world powers will relax economic sanctions against Iran in exchange for a promise that the country scales back its nuclear program. Oil prices sank on the expectation of more oil exports from Iran following the nuclear deal.

World markets also climbed on the news. European markets finished with solid gains, with Germany's benchmark Dax index leading the way. Most Asian markets ended higher, with Japan's Nikkei jumping 1.5% as the yen weakened against the dollar.

Besides the Iran deal and pending home sales, there wasn't much other news moving markets. Trading volume is expected to be low during this holiday-shortened week and there are few economic and earnings reports on tap. U.S. markets will be closed Thursday for Thanksgiving and will shut at 1 p.m. ET on Friday.

In company news, Wal-Mart (WMT, Fortune 500) announced that current CEO of Wal-mart International Doug McMillon will replace CEO Mike Duke, who plans to retire early next year. Shares rose and hit an all-time high.

Apple (AAPL, Fortune 500) bought the Israeli tech company PrimeSense, a leading developer of 3D sensors. Apple's stock was up about 1%.

Yahoo (YHOO, Fortune 500) announced that Katie Couric will join the company early next year as its "global anchor."

* Video - Nasdaq 4000: Tech bubble? Not yet

Social media stocks were trading lower, a sign that the hot sector may be losing momentum.

Shares of Yelp (YELP), which have more than tripled this year, were down almost 7%. Facebook (FB, Fortune 500) shares, which have more than doubled so far in 2013, slid 3%.

Twitter (TWTR), which just debuted on the stock market earlier this month, tumbled nearly 5%. LinkedIn (LNKD), Groupon (GRPN) and Pandora (P) were also all down sharply. That put pressure on the Global X Social Media Index ETF (SOCL).

"Looks like social media bubble officially popping ... $SOCL, $FB, $LNKD, $TWTR, $P, $YELP Bearish," said StockTwits trader slowslimslider.

Another user, ACInvestorBlog, noted that the fall of some "bubble stocks" could mean that Netflix (NFLX) and Amazon (AMZN, Fortune 500) could be next to face pressure. Netflix has surged 275% this year, while Amazon is up almost 50%.

"Some bubble stocks falling from grace $FB $TWTR $YELP $TSLA, he said. "Watch $NFLX and $AMZN."

But some traders remained bullish on Facebook. One noted that Facebook's stock has enjoyed a sharp rally to its current level of around $45.

"$FB Keep in mind wasn't too long ago 26 was norm," IncrementalWealth said. "A 50% jump in a few months. Watching for lower as said all along then back in big again. Bullish."

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4:10 pm: [BRIEFING.COM] The S&P 500 began the holiday-shortened week on a lower note, shedding 0.1%. The Dow Jones Industrial Average and Nasdaq outperformed, but their gains were limited to less than 0.1% apiece.

Stocks held modest gains through the vast majority of the session, but a final-hour sell off sent the S&P 500 to a fresh low. Despite today's retreat, the benchmark index remains higher by 2.6% in November.

Energy (-0.8%) and materials (-0.7%) led the afternoon sell off after lagging throughout the session. The energy sector was pressured by crude oil futures, which fell 0.8% to $94.03 per barrel. Oil futures were able to erase a portion of their losses after being down as much as 1.1% in reaction to the nuclear deal with Iran that was reached over the weekend.

Meanwhile, steelmakers weighed on the materials sector as the Market Vectors Steel ETF (SLX 47.80, -0.47) lost 1.0%.

Elsewhere, industrials (-0.4%) joined the final-hour sell off as Boeing (BA 133.00, -2.97) fell 2.2% amid news the company has warned airlines about a potential engine icing risk. The engine maker, General Electric (GE 26.73, -0.35), lost 1.3%. However, there were some pockets of strength among industrials as the Dow Jones Transportation Average outperformed with a gain of 0.3%.

The afternoon weakness also claimed three countercyclical groups-consumer staples (-0.2%), telecom services (-0.3%), and utilities (-0.4%)-while health care outperformed with a gain of 0.4%. Biotechnology was largely responsible for the relative strength as the iShares Nasdaq Biotechnology ETF (IBB 222.79, +2.16) added 1.0%.

Outside of health care, only consumer discretionary (+0.1%) and financials (+0.1%) eked out narrow gains.

Treasuries ended modestly higher with the 10-yr yield off one basis point at 2.74%.

Trading volume was well below average as just over 620 million shares changed hands on the floor of the New York Stock Exchange.

Today's economic data was limited to October pending home sales, which ticked down 0.6%. The reading followed last month's revised decrease of 4.6% (from 5.6%), and was worse than the 1.3% increase forecast by the Briefing.com consensus.

Tomorrow, building permits for September and October will be reported at 8:30 ET while the September Case-Shiller 20-city Index and September FHFA Housing Price Index will be released at 9:00 ET. The day's data will be topped off with the 10:00 ET release of the November Consumer Confidence Index.

Russell 2000 +32.4% YTD
Nasdaq +32.3% YTD
S&P 500 +26.4% YTD
DJIA +22.7% YTD

3:30 pm: [BRIEFING.COM] Dec crude oil traded in negative territory today as the dollar index rose on an international nuclear deal with Iran. The agreement lifts some sanctions on the Middle Eastern nation's oil, gold, precious metals and auto parts. The energy component brushed a session low of $93.08 per barrel when floor trade opened and inched slightly higher as the session progressed. It eventually settled at $94.03 per barrel, or 0.8% lower.

Natural gas, on the other hand, rose for a fourth consecutive session as forecasts called for colder weather. It dipped to a session low of $3.80 per MMBtu after trading as high as $3.88 per MMBtu earlier in the session but regained momentum in afternoon pit trade. Natural gas eventually booked a 0.8% gain as it settled at $3.84 per MMBtu.

Dec gold traded slightly lower today as the stronger dollar index weighed on prices. The yellow metal traded as low as $1226.80 per ounce in early morning pit trade but managed to erase most of the loss. It chopped around just below the unchanged level for most of the session and settled 0.2% lower at $1241.40 per ounce.

Dec silver lifted from its session low of $19.64 per ounce set moments after pit trade opened and traded near the breakeven level. It brushed a session high of $19.99 per ounce and eventually settled at $19.87 per ounce, or 0.1% higher.

3:00 pm: [BRIEFING.COM] With one hour left in today's session, the S&P 500 trades higher by 0.1%. Investors received just one economic data point today with a handful of reports scheduled to be released tomorrow.

The partial government shutdown continues to plague data collection process at the Census Bureau. Even though the shutdown ended more than a month ago, the Census Bureau has not had enough time to collate information on new housing starts and completions for September and October. As a result, the Census Bureau announced that it will delay the housing starts report until December 18. At that time, all the starts data for September, October, and November will be released.

Evidently, there were no problems collecting the building permits data for September and October. That information will be released tomorrow at 8:30 ET.

In addition to building permits, tomorrow's data will include the September Case-Shiller 20-city Index (9:00 ET), September FHFA Housing Price Index (9:00 ET), and November Consumer Confidence (10:00 ET).

2:25 pm: [BRIEFING.COM] The S&P 500 has returned to its opening high with some help from the technology sector, which has risen to a fresh high. As mentioned earlier, several top tech components trade with solid gains, but momentum names remain mostly lower.

Elsewhere, chipmakers have also shown some cracks as Intel (INTC 23.74, -0.13) trades lower by 0.5% while the broader PHLX Semiconductor Index holds a loss of 0.1%.

2:00 pm: [BRIEFING.COM] Not much change has taken place since our last update as the major averages remain near their recent levels. Similarly, most individual sectors continue respecting their recent ranges while technology (+0.1%) has climbed back into positive territory.

The sector has received support from some of its top components as Apple (AAPL 525.27, +5.47) and Google (GOOG 1048.98, +17.09) hold respective gains of 1.0% and 1.7%. Meanwhile, momentum names like Facebook (FB 44.98, -1.25), LinkedIn (LNKD 214.77, -5.48), and Micron (MU 19.93, -0.26) register losses between 1.3% and 2.7%.

1:25 pm: [BRIEFING.COM] Pretty slow going for the equity market so far as it has settled into a narrow trading range (as in less than a two-point range for the S&P 500 for the last three hours). Still, one could qualify the market's standing as a "big" move from a sentiment standpoint. Despite seven straight, winning weeks in which the S&P 500 has surged 9.0%, the lack of selling interest is striking.

Looking elsewhere, the action in the Treasury market has been equally torpid. Most maturities are up one or two ticks, so yields are little changed. On a related note, the $32 bln 2-yr note auction was solid, accented by a 3.54x bid-to-cover ratio that exceeded the 12-auction average of 3.37x.

The Treasury market was expected to be moved somewhat tomorrow by the Housing Starts data for September and October. However, it was announced earlier that the release is going to be delayed by the Census Bureau until December 18, which means the market will digest starts data for September, October, and November all at once. Interestingly, the building permits data for September and October will still be released tomorrow.

12:55 pm: [BRIEFING.COM] Equities are little changed at midday as the Dow, Nasdaq, and S&P 500 hold modest gains between 0.1% and 0.2%. The trading week has gotten off to a quiet start with global risk assets rising after the weekend produced an international nuclear deal with Iran.

Crude oil has retreated in the wake of the news as the agreement lifts some sanctions on the Middle Eastern nation. The energy component is lower by 1.1% at $93.84 per barrel while the broader energy sector trades down 0.8%.

Meanwhile, the other commodity-linked sector, materials, holds a loss of 0.4% as steelmakers and miners lag. The Market Vectors Gold Miners ETF (GDX 21.81, -0.44) is lower by 2.0% while the Market Vectors Steel ETF (SLX 47.77, -0.50) displays a loss of 1.0%.

Outside of the two groups, no other sector trades with a loss larger than 0.1%. Meanwhile, the relative strength of consumer discretionary (+0.2%), financials (+0.3%), and health care (+0.7%) has kept the broader market in positive territory.

Notably, the health care sector is being supported by biotechnology as the industry group continues its strength from Friday. The iShares Nasdaq Biotechnology ETF (IBB 223.15, +2.52) is higher by 1.1%.

Among stock-specific news of note, Wal-Mart (WMT 80.30, +0.49) trades up 0.6% after announcing Doug McMillon will be the new Chief Executive Officer of Wal-Mart Stores, replacing Mike Duke. The broader consumer staples sector trades in-line with the S&P.

Treasuries hold slim gains with the 10-yr yield lower by one basis point at 2.74%.

Today's economic data was limited to October pending home sales, which ticked down 0.6%. The reading followed last month's revised decrease of 4.6% (from 5.6%), and was worse than the 1.3% increase forecast by the Briefing.com consensus.

12:30 pm: [BRIEFING.COM] The major averages continue to hover just above their flat lines with the Dow (+0.2%) maintaining its lead. Meanwhile, the S&P 500 has held inside of a two-point range since the opening hour.

Even though stocks are trading with modest gains, the CBOE Volatility Index (VIX 12.61, +0.35) is higher by 2.9% as some participants seek a measure of downside protection. Despite today's gain, the near-term volatility measure remains between 12.00% and 14.00%--a range that has been respected for the past month.

11:55 am: [BRIEFING.COM] The S&P 500 hovers just above its flat line as the outperformance of financials (+0.3%) and health care (+0.7%) overshadows the losses in energy (-0.8%) and materials (-0.5%). Although the two laggards trade notably lower, no other group trades with a loss larger than 0.1%.

The energy sector has been pressured by crude oil, which trades lower by 1.0% at $93.93 per barrel following the weekend agreement to lift some international sanctions on Iran. Elsewhere, steelmakers weigh on the materials sector as the Market Vectors Steel ETF (SLX 47.80, -0.47) displays a loss of 1.0%.

11:30 am: [BRIEFING.COM] Equities continue to hold their recent levels while cyclical sectors trade in mixed fashion. Consumer discretionary (+0.1%) and financials (+0.3%) hold modest gains while energy (-0.7%), industrials (-0.1%), materials (-0.5%), and technology (-0.1%) lag.

Even though four sectors hover in the red, the continued outperformance of consumer staples (+0.3%) and health care (+0.7%) has kept the broader market out of negative territory.

Elsewhere, Treasuries sit near their best levels of the day with the 10-yr yield off one basis point at 2.74%.

10:55 am: [BRIEFING.COM] The Nasdaq and S&P 500 have spent the past hour hovering near their respective flat lines while the Dow (+0.2%) has climbed to its best level of the session.

The price-weighted index has received significant support from Caterpillar (CAT 84.81, +1.93) as the stock trades higher by 2.3% in reaction to a Bank of America/Merrill Lynch upgrade to 'Buy' from 'Neutral.' Although Caterpillar sports a solid gain, the broader industrial sector (-0.1%) lags as Boeing (BA 132.53, -3.44) weighs. The aircraft manufacturer is lower by 2.5% following news the company has warned airlines about a risk of engine icing. General Electric (GE 26.93, -0.15), which makes the engines, trades down 0.6%.

10:30 am: [BRIEFING.COM] Jan crude oil is trading lower this morning as a stronger dollar index and a nuclear deal with Iran puts pressure on prices. The energy component touched a session low of $93.08 as pit trade opened and is currently down 0.9% at $94.02.

Jan natural gas, however, is one of the top-performers in the commodities space, gaining strength on cold weather forecasts. It advanced to a session high of $3.88 but has since ticked slightly lower. It is currently up 0.8% at $3.84.

Dec gold traded in negative territory in overnight action but erased most of the losses. It rose to a session high of $1244.40 shortly after equity markets opened and is now down 0.3% at $1240.70.

Dec silver managed to lift into positive territory from its session low of $19.64 set at pit trade open. It brushed a session high of $19.99 and is currently trading at $19.89, or 0.1% higher.

10:00 am: [BRIEFING.COM] The S&P 500 has returned to its flat line as the underperformance of energy (-1.0%), industrials (-0.2%), and technology (-0.2%) weighs.

Pending home sales for October ticked down 0.6%, which was worse than the 1.3% increase forecast by the Briefing.com consensus. Today's reading followed last month's revised decrease of 4.6%.

9:45 am: [BRIEFING.COM] The major averages registered opening gains and the Nasdaq (+0.3%) climbed above the 4,000 level for the first time since September 2000. The tech-heavy index began the session ahead of its peers with support from large components like Apple (AAPL 523.80, +4.00) and Microsoft (MSFT 37.91, +0.34).

In addition, biotechnology has also contributed to the early strength as the iShares Nasdaq Biotechnology ETF (IBB 221.95, +1.32) trades higher by 0.5%. The early outperformance of biotech has also given a boost to the health care sector, which trades ahead of the remaining groups with a gain of 0.5%.

Treasuries are little changed after regaining their early losses. The 10-yr yield sits at 2.75%.

9:13 am: [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +12.50. Equity indices are poised for an upbeat start to the week as the S&P 500 futures trade higher by 0.3%. A nuclear deal with Iran that was struck over the weekend has contributed to early strength while weighing on oil futures (-1.1% at $93.81/bbl).

The S&P 500 will look to continue its recent run after registering seven consecutive weekly gains. Furthermore, the benchmark index enters the final week of the month with a November gain of 2.8%. The tech-heavy Nasdaq is higher by 1.8% month-to-date while the Dow Jones Industrial Average has added 3.3% so far this month.

October pending home sales will be released at 10:00 ET.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +4.10. Nasdaq futures vs fair value: +12.20. The S&P 500 futures trade higher by 0.3%.

Markets across most of Asia were higher as the combination of Friday's advance on Wall Street and a nuclear deal with Iran sparked the overnight bid. India's Sensex (+1.9%) saw the biggest advance as hopes emerged the nuclear deal with Iran will put downward pressure on oil prices. Elsewhere, Japan's Nikkei (+1.5%) rallied on comments from Bank of Japan Governor Haruhiko Kuroda suggesting the possibility of negative interest rates. China's Shanghai Composite (-0.5%) lagged as tensions with Japan over the conflict regarding the Senkaku Islands appear to be on the rise. Hong Kong's Hang Seng (-0.1%) ended little changed. Data from the region was light with Singapore's inflation rate advancing 2.0% year-over-year and Taiwan's industrial production rising 0.8% year-over-year.

In Japan, the Nikkei advanced 1.5% as action climbed to a six-month high. Heavyweight Softbank provided support with a 5.4% gain as investors continued to pile in following Friday's announcement by Dan Loeb's Third Point that it had taken a stake in the company. Exporters benefited from the weaker yen with Honda Motor adding 1.6% and TDK gaining 2.9%.
Hong Kong's Hang Seng shed 0.1% as trade holds near the February highs. Property stocks weighed as Hang Lung Properties and Sino Land lost 2.8% and 1.3%, respectively. Heavyweight Tencent Holdings was the best performer, advancing 3.2%.
In China, the Shanghai Composite settled lower by 0.5% as trade pushed back below the 200-day moving average. Energy stocks weighed with Sinopec tumbling 4.0% after one of its pipelines exploded, killing 55. The explosion put pressure on other energy names such as PetroChina, which gave up 1.5%.

Major European indices hold gains across the board with Germany's DAX (+1.0%) providing leadership. The first session of the week has gotten off to a relatively quiet start with one headline of note coming out of Germany where Finance Minister Wolfgang Schaeuble said he believes contagion risks have disappeared from the eurozone. Participants received several economic data points. Great Britain's BBA Mortgage Approvals came in at 42,800 (45,200 expected, 43,200 prior). France's Business Survey held steady at 98 (97 expected). Italian non-EU trade surplus expanded to EUR2.90 billion from EUR0.32 billion. Spain's PPI ticked down 0.2% (+0.1% expected, +0.1% last). Lastly, Swiss employment level rose to 4.20 million from 4.17 million, as expected.

Great Britain's FTSE trades higher by 0.3% with travel names displaying strength. EasyJet and International Consolidated Airlines Group hold respective gains of 1.7% and 2.7%. On the downside, energy names lag as BG Group trades lower by 0.6% and Tullow Oil sports a loss of 1.1%.
In France, the CAC holds a gain of 0.6% as financials contribute to the strength. Credit Agricole and Societe Generale are higher by 0.9% and 2.1%, respectively. Health care supplier Essilor International lags with a loss of 0.8%.
Germany's DAX trades up 1.0% as 27 of 30 components register gains. Dialysis provider Fresenius Medical has spiked 7.3% after U.S. officials confirmed Medicare reimbursement cuts would be phased in rather than introduced at once.

8:27 am: [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +12.50. U.S. equity futures hover near their best pre-market levels after spending the entire overnight session in positive territory. Futures received a bid after it was announced that officials from the European Union, United States, and Iran have agreed to relax some sanctions on Iran. Oil futures retreated in reaction to the news and currently trade lower by 1.4% at $93.52 per barrel.

Outside of the news from the Middle East, the trading week has gotten off to a subdued start. This week is expected to be relatively quiet overall with U.S. markets closed on Thursday for Thanksgiving. In addition, Friday's session will end at 13:00 ET

8:00 am: [BRIEFING.COM] S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +12.70. U.S. equity futures hover near their pre-market highs with the S&P 500 futures up 0.3%.

Looking at overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng -0.1%, China's Shanghai Composite -0.5%, and Japan's Nikkei +1.5% while USDJPY climbed above 101.75.
There was no economic data of note.
In news:
Geopolitical developments overshadowed action on the exchanges as Beijing declared the region containing the disputed Senkaku islands as an 'air defense identification zone.' Japan responded by submitting a formal protest to representatives at the Chinese Embassy in Japan.

Major European indices hold gains across the board. Great Britain's FTSE +0.3%, France's CAC +0.5%, and Germany's DAX +1.0%. Elsewhere, Italy's MIB +0.4% and Spain's IBEX +0.2%.
Participants received several economic data points:
Great Britain's BBA Mortgage Approvals came in at 42,800 (45,200 expected, 43,200 prior).
France's Business Survey held steady at 98 (97 expected).
Italian non-EU trade surplus expanded to EUR2.90 billion from EUR0.32 billion.
Spain's PPI ticked down 0.2% (+0.1% expected, +0.1% last).
Swiss employment level rose to 4.20 million from 4.17 million, as expected.
Among news of note:
Germany's Finance Minister Wolfgang Schaeuble said that contagion risks are no longer present in the eurozone.

In U.S. corporate news:

Alcoa (AA 9.53, +0.29): +3.1% after Goldman Sachs upgraded the stock to 'Buy' from 'Neutral.'
JetBlue Airways (JBLU 8.88, -0.21): -2.3% after Raymond James downgraded the stock to 'Underperform' from 'Market Perform.'
Qihoo 360 Technology (QIHU 82.49, -4.11): -4.8% despite beating on earnings and revenue. Today's economic data will be limited to the October Pending Home Sales report, which will be released at 10:00 ET.

6:10 am: [BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +10.50.

6:10 am: [BRIEFING.COM] Nikkei...15619.13...+237.40...+1.50%. Hang Seng...23684.45...-11.80...-0.10%.

6:10 am: [BRIEFING.COM] FTSE...6693.14...+18.90...+0.30%. DAX...9298.77...+79.70...+0.90%.

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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