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 Post subject: December 2nd Monday Trade Results - Profit $2662.50
PostPosted: Tue Dec 03, 2013 12:09 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1,720.00 dollars or +17.20 points, Emini ES ($ES_F) futures @ $812.50 dollars or +16.25 points, Light Crude Oil CL ($CL_F) futures @ $90.00 dollars or +0.09 points, Gold GC ($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 @ $2,662.50 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=124&t=1664

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=226&t=2114

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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 Slip On Weak Black Friday Sales

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

NEW YORK (CNNMoney)
Stocks slid in the final hour of trading Monday as weak holiday sales raised concerns about the state of the consumer.

The Dow Jones industrial average, the S&P 500 and the Nasdaq all ended lower. Despite the selling, the Dow managed to close above 16,000 and the S&P 500 held 1,800. But both indexes briefly dipped below those psychologically important levels in the last few minutes prior to the closing bell before recovering.

Why the sell-off? There wasn't a lot of economic or corporate news Monday. But the National Retail Federation did report that shoppers spent an average of 4% less over the holiday weekend, the first decline in spending since 2009. Shares of J.C. Penney (JCP, Fortune 500), Coach (COH) and Urban Outfitters (URBN) were lower.

Given the underwhelming Black Friday sales, investors will be watching Cyber Monday shopping figures for further clues about the health of the U.S. consumer.

Amazon (AMZN, Fortune 500) made headlines after CEO Jeff Bezos said the company is exploring a drone-based delivery system for some shipments. The plan is in the early stages and faces regulatory hurdles, but investors on StockTwits seemed pleased with the attention it generated.

"Congrats to $AMZN #Amazon for their drone buzz. .In all media now," said ForexAccountManagers.

Shares of Amazon gave up early gains and turned lower at midday. Some investors were questioning whether the Prime Air delivery service makes economic sense.

"$AMZN #Amazon probably down,because people who saw 60 MIN,figured this bezo dude is nuts<I mean really?there going to fly 1K's of drones?LOL," said 1991previa.

* Amazon drones? Time for a reality check

But one trader joked that they liked how enthusiastic Bezos and wished for more of that from Apple (AAPL, Fortune 500)CEO Tim Cook.

"$AMZN bezos is the biggest cheerleader for his company. i wish tim cook would do the same=show more excitement," said deskpros123.

Still, shares of the iPhone and iPad maker have bounced back recently. The stock has clawed back from about $400 over the summer and now trades above $550.

Shares of eBay (EBAY, Fortune 500) were lifted by hopes the online auction company will benefit as consumers look for bargains this holiday season.

"I'm going to do all my shopping today on $EBAY - every little bit counts!" said crosenfield.

In economic news, the Institute for Supply Management said its manufacturing index rose 0.9% in November, the sixth month in a row of growth in the sector. The report points to fourth-quarter economic growth of 3.5%, according to Amna Asaf, an economist at Capital Economics.

* Bulls look for new market highs

The manufacturing data kicks off a heavy week of economic news.

The November jobs report is due Friday and that could give investors a better sense of how much longer the Federal Reserve will maintain its massive stimulus program at current levels.

Other reports this week include auto sales, the second estimate of third quarter GDP and weekly jobless claims.

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4:10 pm: [BRIEFING.COM] Equity indices finished the first December session on a lower note as the S&P 500 shed 0.3%. Small caps endured steady selling throughout the session as the Russell 2000 fell 1.2%.

The benchmark index spent some time on each side of its flat line, but ultimately ended near its lows. The index attempted to build on the relative strength of financials (-0.2%) and materials (-0.2%), but the underperformance of technology (-0.3%), industrials (-0.5%) and discretionary shares (-0.5%) short-circuited the rally.

The discretionary sector was pressured by homebuilders and retailers. The iShares Dow Jones US Home Construction ETF (ITB 22.69, -0.45) lost 1.9% as Treasury yields climbed throughout the session. The benchmark 10-yr yield added five basis points to 2.80%.

Meanwhile, retailers slumped after the National Retail Federation said Thanksgiving weekend sales were down 3.0% year-over-year. The SPDR S&P Retail ETF (XRT 87.87, -0.59) lost 0.7%. However, eBay (EBAY 51.35, +0.83) outperformed its brick-and-mortar peers amid indications holiday online sales have gotten off to a strong start.

Elsewhere, Dow component 3M (MMM 127.68, -5.83) pressured the industrial sector, falling 4.4% after Morgan Stanley downgraded the stock to 'Underweight.' Transports withstood the bulk of the selling as the Dow Jones Transportation Average added 0.3%.

The Nasdaq also contributed to the afternoon weakness as top-weighted components and momentum names lagged. Apple (AAPL 551.23, -4.84), Google (GOOG 1054.48, -5.11), and Intel (INTC 23.70, -0.14) lost between 0.5% and 0.9% while LinkedIn (LNKD 220.39, -3.64) and Tesla (TSLA 124.17, -3.11) fell 1.6% and 2.4%, respectively.

A pocket of strength could be found inside the tech-heavy index as biotechnology outperformed. The iShares Nasdaq Biotechnology ETF (IBB 224.73, +0.57) added 0.3%, which helped the health care sector finish with a slim gain of 0.1%.

The remaining countercyclical groups lagged across the board as consumer staples, telecom services and utilities lost between 0.4% and 0.9%.

Today's participation was well below average as 667 million shares changed hands on the floor of the New York Stock Exchange.

Investors received just two economic data points today. After increasing a downwardly revised 0.1% (from 0.6%) in August, construction spending fell 0.3% in September before rebounding and increasing a solid 0.8% in October. The Briefing.com consensus expected construction spending to increase 0.4% and 0.3% in September and October, respectively.

The big gain in October spending came entirely from the government sector. Spending rose 3.9% in October, namely from an 8.5% gain in educational and a 5.9% gain in transportation. Private construction spending fell 0.5% in October after increasing 0.4% in September.

Separately, the November ISM Manufacturing Index increased to 57.3 from 56.4. That was the highest reading since the index reached 59.4 in April 2011. The Briefing.com consensus expected the index to fall to 55.5. For the past several months, regional manufacturing surveys have hinted at a slowdown in manufacturing activities, but the national ISM has shrugged those off and continued its trek higher.

There is no notable economic data on tomorrow's schedule.

Nasdaq +34.0% YTD
Russell 2000 +32.9% YTD
S&P 500 +26.3% YTD
DJIA +22.2% YTD

3:30 pm: [BRIEFING.COM] Precious metals underperformed the commodities space as a stronger dollar index and better-than-anticipated manufacturing data pressured prices. The November ISM Manufacturing Index increased to 57.3 from 56.4, posting the highest reading since the index reached 59.4 in April 2011. The Briefing.com consensus expected the index to fall to 55.5.

Feb gold pulled back from its session high of $1238.20 per ounce set in morning pit action and trended lower for the remainder of the session. It eventually settled with a 2.3% loss at $1222.00 per ounce.

Mar silver also extended overnight losses as it slipped from its session high of $19.74 per ounce set moments after floor trade opened. It continued to trend lower and settled with a 3.7% loss at $19.30 per ounce, right above its session low of $19.27 per ounce.

Jan crude oil, on the other hand, extended Friday's gains, getting a boost from the better-than-anticipated economic data. The energy component lifted from its session low of $92.90 per barrel set at the floor open and trended higher. It brushed a session high of $94.08 per barrel in late afternoon pit action and settled with a 1.2% gain at $93.83 per barrel.

Jan natural gas rose for an eighth consecutive session despite spending most of today's pit trade in the red. It brushed a session low of $3.91 per MMBtu in morning action but gained momentum in the last hour of floor trade and erased the earlier losses. Natural gas settled at its session high of $3.99 per MMBtu, booking a gain of 0.8%.

3:00 pm: [BRIEFING.COM] The S&P 500 remains anchored to its flat line with one hour remaining in today's session. Although the benchmark index spent some time on either side of its flat line today, it has held inside a seven-point range throughout the session.

Financials (+0.2%) and materials (+0.1%) provided leadership since the open, but both groups have retreated from their best levels of the day. Meanwhile, health care (+0.3%) enters the final hour on its session high.

2:30 pm: [BRIEFING.COM] The S&P 500 has dipped back into the red as the broader market follows the underperformance of the Nasdaq.

Earlier, investors received just two economic reports, but neither one fell in the 'market-moving' category. Tomorrow's session will be even quieter with no notable data on the schedule while Wednesday will feature the October trade balance (Briefing.com consensus -$40.50 billion) and the new home sales report for September (consensus 432K) and October (consensus 420K).

Thursday will bring the second estimate of third quarter GDP (consensus 1.9%) while Friday's data will include the nonfarm payrolls report for November (consensus 188K).

2:00 pm: [BRIEFING.COM] Equity indices have retreated from their recent levels, putting the Nasdaq back on its session low.

The Nasdaq tried, but could not make a sustained move into positive territory as top-weighted components trade mixed while momentum names lag. Some momentum-favorites began showing weakness towards the end of November, and the group has gotten off to a cautious December start as LinkedIn (LNKD 220.19, -3.84), Priceline.com (PCLN 1185.06, -7.27), and Tesla (TSLA 125.67, -1.61) hold losses between 0.6% and 1.7%.

1:30 pm: [BRIEFING.COM] The S&P 500 has taken a step back from its best level of the day, but that retreat fails to capture the larger pullback that is taking place among small caps. The Russell 2000 has lagged throughout the session, and the recent weakness sent the index to a fresh low, widening its loss to 0.7%.

Despite the notable weakness among small caps, the CBOE Volatility Index (VIX 13.82, +0.12) remains just above its session low. Elsewhere, Treasuries continue to hover near their lows with the 10-yr yield up five basis points at 2.80%.

1:00 pm: [BRIEFING.COM] At midday, the S&P 500 holds a modest gain of 0.2% as eight of ten sectors trade in positive territory. The benchmark index slipped out of the gate, but has since climbed to a fresh session high.

The early weakness was brought on by the underperformance of countercyclical sectors, but health care (+0.3%) and utilities (+0.1%) were able to regain their flat lines by midday. Meanwhile, consumer staples (-0.2%) and telecom services (-0.5%) remain near their lows.

On the upside, financials (+0.7%) and materials (+0.5%) have displayed strength from the open while energy (+0.7%) and industrials (+0.1%) joined the rebound in progress.

While most cyclical sectors hover near their highs, the discretionary space is little changed as retailers and homebuilders weigh. Retail names have been pressured after the National Retail Federation said Thanksgiving weekend sales were down 3.0% year-over-year. The SPDR S&P Retail ETF (XRT 88.25, -0.21) is lower by 0.2%. However, online retailer eBay (EBAY 51.70, +1.17) outperforms its brick-and-mortar peers amid indications holiday online sales have gotten off to a strong start.

With regard to homebuilders, the industry group trades broadly lower amid elevated yields. The iShares Dow Jones US Home Construction ETF (ITB 23.00, -0.14) holds a loss of 0.6%.

Treasuries hover near their lows with the 10-yr yield up five basis points at 2.80%.

Investors received just two economic data points today. After increasing a downwardly revised 0.1% (from 0.6%) in August, construction spending fell 0.3% in September before rebounding and increasing a solid 0.8% in October. The Briefing.com consensus expected construction spending to increase 0.4% and 0.3% in September and October, respectively.

The big gain in October spending came entirely from the government sector. Spending rose 3.9% in October, namely from an 8.5% gain in educational and a 5.9% gain in transportation. Private construction spending fell 0.5% in October after increasing 0.4% in September.

Separately, the November ISM Manufacturing Index increased to 57.3 from 56.4. That was the highest reading since the index reached 59.4 in April 2011. The Briefing.com consensus expected the index to fall to 55.5. For the past several months, regional manufacturing surveys have hinted at a slowdown in manufacturing activities, but the national ISM has shrugged those off and continued its trek higher.

12:30 pm: [BRIEFING.COM] The S&P 500 has overtaken its opening high while the Dow and Nasdaq sit right above their flat lines. Cyclical sectors have continued inching higher, but financials (+0.7%) remain atop the leaderboard. The sector is being followed by energy, which trades higher by 0.6%. On a related note, crude oil trades up 1.2% at $93.82 per barrel.

Even though the S&P has climbed to a fresh high, market breadth remains tilted to the downside as declining issues on the NYSE outpace advancers by a 1.54:1 ratio.

12:00 pm: [BRIEFING.COM] Not much has changed since our last update as the S&P 500 continues to hover just above its flat line. Meanwhile, the Dow and Nasdaq remain in the red.

The price-weighted Dow has yet to climb into positive territory as 3M (MMM 129.85, -3.66) weighs. The stock trades lower by 2.7% after being downgraded to 'Underweight' at Morgan Stanley. Outside of 3M, Travelers (TRV 89.64, -1.10) is the only Dow member trading with a loss larger than 1.0%. The insurer is lower by 1.1% after Goldman Sachs downgraded the stock to 'Neutral.'

Treasuries have continued their retreat, pushing the 10-yr yield higher by six basis points to 2.81%.

11:30 am: [BRIEFING.COM] Recent action saw the S&P 500 climb out of the red as the index builds on the relative strength of energy (+0.3%) and financials (+0.5%).

On the downside, the discretionary sector (-0.3%) is the weakest performer among cyclical groups as homebuilders and retailers weigh. Homebuilders display losses across the board while the broader iShares Dow Jones US Home Construction ETF (ITB 22.94, -0.20) trades lower by 0.8%. Meanwhile, retailers have been pressured after the National Retail Federation said Thanksgiving weekend sales were down 3.0% year-over-year. The SPDR S&P Retail ETF (XRT 88.13, -0.33) is lower by 0.4%.

Online retailer eBay (EBAY 51.76, +1.24) outperforms its traditional peers following indications holiday online sales have gotten off to a strong start.

10:55 am: [BRIEFING.COM] The Dow and S&P 500 have ticked up off their lows while the Nasdaq remains near its lowest level of the session. However, all three averages continue to trade in negative territory.

Generally speaking, cyclical sectors are holding up relatively well as energy, financials, materials, and technology hold gains between 0.1% and 0.5% with the financial space leading the charge. The other two cyclical groups-consumer discretionary and industrials-hold respective losses of 0.2% and 0.1%.

With regard to countercyclical groups, health care is little changed while consumer staples, telecom services, and utilities hold losses between 0.5% and 0.6%.

Treasuries have retreated to their lows, pushing the 10-yr yield higher by five basis points to 2.79%.

10:30 am: [BRIEFING.COM] Precious metals are trading lower this morning as a stronger dollar index and better-than-anticipated economic data weigh on prices. Feb gold extended overnight losses as it slid to a session low of $1224.60 following data that showed the ISM Manufacturing Index increasing to 57.3 in Nov from 56.4 in Oct, posting the highest reading since reaching 59.4 in Apr 2011. The Briefing.com consensus expected the index to fall to 55.5. The yellow metal is now down 1.7% at $1228.80.

Mar silver also fell deeper into negative territory following the data and is now at $19.51, or 2.6% lower.

Jan crude oil, on the other hand, is posting gains. It came off its session low of $93.10 set at pit trade open and pushed to a session high of $93.75 in recent action. Currently, the energy component is trading higher by 0.9% at $93.54.

Jan natural gas touched a session low of $3.91 moments after equity markets opened but has since erased most of the earlier loss. It is now trading at its session high of $3.95, or 0.2% lower.

10:00 am: [BRIEFING.COM] The S&P 500 trades lower by 0.1%.

September construction spending slipped 0.3% month-over-month against the Briefing.com consensus estimate of a 0.4% increase. October construction spending rose 0.8% while the consensus expected an uptick of 0.3%.

Separately, the November ISM Index rose to 57.3 from 56.4 while the Briefing.com consensus expected the reading to slip to 55.5.

9:50 am: [BRIEFING.COM] The major averages slipped from their opening levels with the Dow (-0.3%) leading the weakness. Meanwhile, the S&P 500 trades lower by 0.2% as seven of ten sectors register opening losses. Countercyclical sectors trade broadly lower with utilities (-0.5%) leading to the downside.

On the upside financials (+0.1%) and technology (+0.2%) display modest early gains.

The construction spending report for September and October as well as the November ISM Index will all be released at 10:00 ET.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +6.20. The major averages are poised for a quiet start to the session. The S&P 500 futures suggest the index will begin right near its flat line while the Nasdaq is expected to display some early strength. Online retailers Amazon.com (AMZN 398.30, +4.68) and eBay (EBAY 52.18, +1.66) have contributed to the early Nasdaq strength amid reports online holiday shopping has gotten off to a strong start. However, reports regarding overall shopping trends during the past weekend have been less upbeat.

Investors did not receive any pre-market data, but the construction spending report for September and October as well as the November ISM Index will all be released at 10:00 ET.

Treasuries hold modest losses with the 10-yr yield up three basis points at 2.78%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -0.60. Nasdaq futures vs fair value: +6.20. The S&P 500 futures hover just below fair value.

Markets ended mixed across Asia as a quiet trade followed the Thanksgiving holiday. China's Shanghai Composite (-0.6%) gave up ground despite the latest uptick in Manufacturing PMI (51.4 actual v. 51.2 expected, 51.2 previous) as reports indicated the year-long IPO freeze has come to an end. Relations with Japan remain strained as the latest reports out over the weekend suggest both the U.S. and Japan will ask Beijing to stand down from the establishment of its new air-defense zone. Japan's Nikkei ended flat despite comments from Bank of Japan Governor Haruhiko Kuroda reiterating the central bank's commitment to reaching its 2% inflation goal while also indicating loose monetary policy is here to stay, as long as needed. Data from the region was heavy as Australian building approvals (-1.8% month-over-month actual versus -4.3% expected) and company operating profits (3.9% quarter-over-quarter actual versus 1.1% expected) both topped estimates while South Korea's trade surplus narrowed to $4.8 billion from $4.9 billion and its inflation rate ticked up to -0.1% month-over-month from -0.3%.

In Japan, the Nikkei closed unchanged as trade hovers just off the May highs. Names with high exposure to China lost ground as the two countries relations remain strained. Fanuc shed 0.4% and Komatsu gave up 0.9%.
Hong Kong's Hang Seng added 0.7% as trade posted its best close since May 2011. Insurance names were strong as Ping An climbed 4.2% and China Life rose 2.8%. Heavyweight Tencent Holdings provided support, trading up 1.3%.
In China, the Shanghai Composite settled lower by 0.6%, but managed to hold above its 50- and 200-day moving averages. Brokerage firms outperformed as China Merchant Securities climbed the daily limit, 10%, and Haitong Securities jumped 5.5%.

Major European indices trade mostly lower with Italy's MIB (-1.3%) seeing the largest decline. Today's selling comes despite mostly better-than-expected PMI readings as only Spain reported a decline (from 50.9 to 48.6). Elsewhere, Eurozone Manufacturing PMI rose to 51.6 from 51.5 (51.5 forecast), Germany's Manufacturing PMI ticked up to 52.7 from 52.5 (52.5 forecast), and Great Britain's Manufacturing PMI rose to 58.4 from 56.5 (56.0 consensus). Also of note, French Manufacturing PMI increased to 48.4 from 47.8 (47.8 expected) and Italian Manufacturing PMI rose to 51.4 from 50.7 (50.9 forecast). Among news of note, Great Britain's Office for Budget Responsibility is expected to upgrade its 2013 GDP growth projection to 1.4% from 0.6%.

Great Britain's FTSE is lower by 0.7% as miners weigh. Fresnillo and Randgold Resources hold respective losses of 2.5% and 2.1%. Financials are showing moderate strength as Barclays and Lloyds Banking Group trade higher by 0.2% and 1.6%, respectively.
In France, the CAC trades down 0.3% with Electricite de France leading to the downside. The electricity provider is lower by 1.0%. Defense stocks outperform as EADS trades higher by 0.5% and Safran holds an advance of 0.7%.
Germany's DAX is flat. Steelmaker ThyssenKrupp is a notable laggard, trading lower by 9.0% after reporting disappointing results from its overseas plants. Deutsche Bank outperforms, trading higher by 0.7%.
Italy's MIB is lower by 1.3% with energy and utilities leading to the downside. Enel is lower by 4.0% and Saipem trades down 2.4%.

8:27 am: [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +6.00. Equity indices are expected to display little change at the start of today's session as index futures hover near their flat lines. Nasdaq futures (+0.2%) are showing some early strength with major components like Amazon.com (AMZN 396.20, +2.58) and eBay (EBAY 52.00, +1.48) contributing after ComScore reported that online holiday shopping to date has increased 3.0% over the same period last year.

With regard to overall weekend spending, the National Retail Federation said weekend sales fell 3.0% year-over-year. With that in mind, traditional apparel retailers like Aeropostale (ARO 10.25, -0.07) and J.C. Penney (JCP 10.04, -0.15) trade lower by 0.7% and 1.5%, respectively.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +6.00. U.S. equity futures are little changed amid cautious overseas action.

Reviewing overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng +0.7%, China's Shanghai Composite -0.6%, and Japan's Nikkei ended flat.
In regional economic data:
China's Manufacturing PMI held steady at 51.4 (51.2 forecast) while the HSBC Manufacturing PMI ticked up to 50.8 from 50.4 (50.5 forecast).
Japan's capital spending rose 1.5% year-over-year (3.1% expected, 0.0% prior).
India's HSBC Markit Manufacturing PMI improved to 51.3 from 49.6.
South Korea's CPI slipped 0.1% month-over-month (0.1% forecast, -0.3% last) while the year-over-year reading increased 0.9% (1.1% forecast, 0.7% prior).
Australia's AIG Manufacturing Index fell to 47.7 from 53.2. Separately, building approvals fell 1.8% month-over-month (-5.0% expected, 16.9% previous) and business inventories slipped 0.5% month-over-month (-0.1% consensus, 0.4% last). Also of note, company gross operating profits increased 3.9% quarter-over-quarter (1.0% forecast, 0.4% prior).
In news:
Bank of Japan Governor Haruhiko Kuroda spoke overnight, reiterating BoJ's determination to provide additional easing if needed.

Major European indices trade mostly lower. Great Britain's FTSE -0.8%, France's CAC -0.3%, and Germany's DAX is unchanged. Elsewhere, Italy's MIB -1.3% and Spain's IBEX -0.8%.
Investors received several economic data points:
Eurozone Manufacturing PMI rose to 51.6 from 51.5 (51.5 forecast).
Germany's Manufacturing PMI ticked up to 52.7 from 52.5 (52.5 forecast).
Great Britain's Manufacturing PMI rose to 58.4 from 56.5 (56.0 consensus).
French Manufacturing PMI increased to 48.4 from 47.8 (47.8 expected).
Italian Manufacturing PMI rose to 51.4 from 50.7 (50.9 forecast).
Spain's Manufacturing PMI fell to 48.6 from 50.9 (51.0 expected).
Among news of note:
In Great Britain, the Office for Budget Responsibility is expected to upgrade its 2013 GDP growth projection to 1.4% from 0.6%.

In U.S. corporate news:

3M (MMM 132.25, -1.26): -0.9% after Morgan Stanley downgraded the stock to 'Underweight' from 'Equal-Weight.'
Online retailers Amazon.com (AMZN 395.93, +2.31) and eBay (EBAY 52.00, +1.48) hold respective pre-market gains of 0.6% and 2.9% after ComScore reported that online holiday shopping to date has increased 3.0% over the same period last year.
Monster Beverage (MNST 60.70, +1.52): +2.6% after JPMorgan upgraded the stock to 'Overweight' from 'Neutral.'

The construction spending report for September and October and the November ISM Index will all be released at 10:00 ET.

6:26 am: [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: +2.00.

6:26 am: [BRIEFING.COM] Nikkei...15655.07...-6.80...0.00. Hang Seng...24038.55...+157.30...+0.70%.

6:26 am: [BRIEFING.COM] FTSE...6607.94...-43.70...-0.60%. DAX...9403.65...-2.90...0.00.

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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