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 Post subject: December 9th Monday Trade Results - Profit $1852.50
PostPosted: Mon Dec 09, 2013 3:25 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 @ $1,290.00 dollars or +12.90 points, Emini ES ($ES_F) futures @ $562.50 dollars or +11.25 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $1,852.50 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=1669

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 ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) my thought process from trade to trade so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell. If you join the chat room and then you do not ask any questions about WRB Analysis in your own trading...the chat room will not be useful to you. Chat room access instructions @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

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 (answering your questions) 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 Up Again...But Barely

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

NEW YORK (CNNMoney)
Stocks inched higher Monday, as the market honed in on some notable mergers and tried to build on the momentum from Friday's better-than-expected jobs report.

The Dow Jones Industrial Average, S&P 500 and Nasdaq all ticked up slightly.

The strong jobs report showed the U.S. unemployment rate fell to 7% in November -- the lowest level in five years -- as more people said they were getting jobs and joining the labor force. Stocks surged Friday on that news.

* No news may be good news for stocks

What's moving: Investors welcomed the debut of the largest airline in the world, as American Airlines Group (AAL), the giant born from the American Airlines and US Airways merger, began trading on the Nasdaq under the new symbol AAL.

Shares of American Airlines advanced almost 3%. The deal, which cleared a series of legal hurdles, including an antitrust lawsuit this fall from the Justice Department and a last-minute challenge from a consumer group, was inked Monday morning before the opening bell.

Related: American Airlines, US Airways to form largest air carrier

Sysco (SYY, Fortune 500) soared more than 9% after the company announced plans to buy rival US Foods for $3.5 billion, bringing together two of the largest food distributors in the country.

But the stock has been up more earlier in the day. And one trader on StockTwits was skeptical that the merger would muster approval from antitrust regulators.

"The Feds will never allow this merger to come to fruition. Sysco: move on. Improve your bottom line through organic growth!" said abc3000.

Another trader disagreed and said the deal would be a big plus for the company.

"$SYY now controls the prime beef market for restaurants and hotels which belonged to US Foods. big margins in that stuff." said JnyLunchBkt

McDonald's (MCD, Fortune 500) fell more than 1% as the fast food chain reported a drop in U.S. sales for November.

"US weakness persistent and getting worse at McDonald's - feels like a market share / perception issue...$MCD," said retail_guru.

Twitter (TWTR) popped 9%, but with no news, it's unclear what was driving the stock higher.

"$TWTR it is nice that it's up but don't get the twitter love today. What really has changed?" said momomiester.

Shares of Baidu (BIDU), China's largest search engine, also closed higher, and the stock was among the top trending tickers on StockTwits. Like Twitter, there was no news to explain the move. But it appears that momentum is on its side. Shares are up more than 70% this year.

"looks like the herd got it right on $BIDU," said 1nvestor.

BlackBerry (BBRY) was under pressure again, with shares falling more than 2% and hitting a new 52-week low. Shares of the once dominant smartphone maker have fallen over 50% this year. In November, the company ditched plans to go private and investors are worried about BlackBerry's future.

European markets closed mostly higher, while Asian markets ended with gains. India's Mumbai Sensex hit an all-time high following weekend elections that have raised hopes of more economic reforms.

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4:20 pm: [BRIEFING.COM] There wasn't a lot of excitement in the stock market today and there is nothing wrong with that. After rallying in broad-based fashion on Friday, the major indices stood their ground (for the most part) amid a lack of conviction from buyers and sellers alike.

Today wasn't a case so much of the stock market going up as it was a case of some influential stocks going up to keep the major indices on a winning path. In fact, decliners were just about even with advancers at the NYSE and led by a 3-to-2 margin on the Nasdaq.

Apple (AAPL 566.43, +6.41) and Google (GOOG 1078.14, +8.27) were key drivers of the S&P 500 and Nasdaq Composite while ExxonMobil (XOM 95.84, +0.19), Chevron (CVX 123.34, +1.05), and Goldman Sachs (GS 167.67, +0.46) were key drivers specifically of the price-weighted Dow Jones Industrial Average.

Another distinction in today's market is that the small-cap sector generally sat this one out as evidenced by the underperformance of the Russell 2000 (-0.2%).

The S&P 500 made an attempt to switch into a higher gear, but it was rebuffed after peaking its head above the 1811 level. That area was a technical line in the sand that was tried and trumped on three separate occasions. The last time was around 1:25 p.m. ET. From that point forward, the broader market trended lower in a choppy trade, yet there was never a cascade of selling interest.

Three Federal Reserve Bank Presidents -- Lacker (Richmond), Bullard (St. Louis), and Fisher (Dallas) -- gave speeches today that touched on their economic views, but ultimately none of them surprised the market with their thinking.

On a related note, the Federal Reserve released a report today that showed household net worth hit a record high $77.3 tln in the third quarter. The stock market took that news and sat with it. Despite the encouraging statistic, it did little to add to household net worth today.

From a sector standpoint, there wasn't a single sector that moved up, or down, at least 1.0%. The biggest gainer today was the materials sector (+0.5%), which also happens to be one of the lowest-weighted sectors in the S&P 500. A decent showing by the financial (+0.4%) and industrials (+0.3%) sectors helped carry more of today's performance load. The utilities (-0.6%) and the consumer discretionary (-0.1%) sectors were the only sectors to end the day in red figures.

McDonald's (MCD 95.72, -1.08) was a notable blue chip laggard following the company's report that comparable sales in its US business declined 0.8% in November (they were up 0.5% overall). Separately, food services company Sysco (SYY 37.62, +3.31) enjoyed a strong day with investors applauding its decision to buy US Foods for a total consideration of $8.2 bln.

Aside from stocks, the bond market also stood its ground today after Friday's advance. The 10-yr note added two ticks, leaving its yield at 2.85%.

Tomorrow's economic calendar features the Wholesale Inventories and JOLTS - Job Openings reports for October. Neither is known for having market-moving potential.

Nasdaq +34.7% YTD
Russell 2000 +32.7% YTD
S&P 500 +26.8% YTD
DJIA +22.1% YTD

3:35 pm: [BRIEFING.COM] Commodities ended the day mixed with energy lower, except for natural gas, metals mixed with gold and copper higher and silver fell.

Crude oil futures lost some steam near the end of today's session and fell to a new LoD of $97.27 just a couple minutes before the end of floor trading. At the end of the session, Jan crude oil ended $0.30 lower at $97.40. Jan natural gas gained 11 cents to $4.23/MMBtu.

Precious metals gained some steam in the early hours of electronic trading and continued to extend gains throughout the day. Feb gold rose $5 on today's session to $1234.10/oz, while Mar silver fell $0.17 to $19.07/oz. Both gold and silver hit new session highs in electronic trade here, about 15 minutes ago.
Related Stories

3:00 pm: [BRIEFING.COM] The final hour is upon us. Stocks are showing modest gains and the 10-yr note is now unchanged for the session. To be sure, dynamic is not a word that would be used to describe today's trading action in either the stock or bond market. Resilient is probably the better fit.

Neither the stock nor the bond market has caved to selling interest after Friday's advance.

There wasn't any economic data out of the US that affected trading today. Tomorrow is light with the Wholesale Inventories and JOLTS - Job Opening reports for October the only items on the calendar. The big data points on the calendar this week are the Retail Sales report for November and the Initial Claims report for the week ending December 7. Each of those reports is out on Thursday.

2:30 pm: [BRIEFING.COM] Market is caught in a bit of a downdraft that has pared today's gains, yet has failed to erase them altogether. It is worth noting that selling picked up a bit (don't want to over emphasize it at this point) on a headline attributed to Dallas Fed President Fisher who said the cost of the Fed's bond buying is exceeding the benefits.

This is not a surprising view from one of the Fed's recognized hawks, but in a low-volume market it was enough to create a little shock value.

We can extrapolate that Mr. Fisher's comments aren't as surprising as some might think by looking at the Treasury market, which is still sporting slight gains at the back end of the curve. The 10-yr note is up one tick with its yield at 2.85%.

2:00 pm: [BRIEFING.COM] The third time wasn't a charm. Once again, the S&P 500 made a run at clearing the 1811 level with conviction, but for the third time today that run was stopped out just above the 1811 level.

There hasn't been any cascading selling interest after the third failure, but intraday charts certainly show a detectable pullback from the best levels of the day.

Sector-wise there aren't any concerted leaders; rather, there is a grouping of sectors sporting modest gains that continues to help keep the S&P 500 above water. The technology (+0.5%) and financial (+0.4%) sectors are the biggest gainers, which is a good thing because they are also the two most-heavily weighted sectors in the S&P 500.

1:25 pm: [BRIEFING.COM] Not sure if the market is savings its best (or worst) for last, but it isn't making any new impressions at the moment as it holds to tight trading ranges on relatively light volume. The good news for investors who are long the market is that there hasn't been any real concerted selling interest following Friday's big rally.

Today there is a lot of chatter about there being a good chance of enjoying a "Santa Claus" rally that may be keeping sellers at bay. The Stock Trader's Almanac informs us that the "Santa Claus" period covers the last five trading days of the year and the first two trading days of the new year. It is often good for a nice move with an average gain of 1.6% during that time since 1969.

Not every year sees a Santa Claus rally, yet the S&P 500 is currently riding a 5-year winning streak on that front.

1:00 pm: [BRIEFING.COM] Unlike Friday, today's session has been pretty short on excitement. Nonetheless, the market has managed to build on Friday's gains as participants overall remain reluctant to sell stock as thoughts of another leg higher into year end dance in their head.

Today's gains, however, are really a function of some influential large-cap stocks carrying the weight of the market on their back. The advance-decline line at the NYSE and Nasdaq speaks to that point as it close to even at the NYSE and favors decliners at the Nasdaq by a 7-to-5 margin.

Google (GOOG 1078.91, +9.04), Apple (AAPL 568.35, +8.33), Exxon (XOM 95.92, +0.26), Citigroup (C 52.19, +0.70), and Caterpillar (CAT 86.39, +0.89) are fitting examples of that leadership. They have made their moves on no news of note, perhaps underscoring a growing preference ahead of next week's FOMC meeting for owning stocks with a high degree of liquidity that makes it easier to get into and out of positions.

The Russell 2000, which is the domain of less liquid small-cap stocks, is down 0.3% today -- nothing dramatic obviously, but an interesting bifurcation in today's market.

The S&P 500 for its part has made two runs today at clearing the 1811 level with conviction. Both times the conviction was lacking as the flirtation with a new all-time high triggered some technical selling interest.

There hasn't been any economic data out of the US today, but we will be hearing from a trio of Fed presidents today about the economy. Richmond Fed President Lacker is just now making remarks, saying he expects growth above 2% in 2014 and a discussion at the December meeting about possibly curtailing the Fed's asset purchase program. Those views are not surprising, so the initial market reaction to his remarks has been limited. Mr. Lacker does not have an FOMC vote this year or in 2014.

Today's corporate headlines have been a bit scattered, which is to say they aren't having any real market-moving impact. Some notable standouts though include Sysco (SYY 38.30, +3.90), which said it is going to acquire US Foods for a total consideration of $8.2 bln, McDonald's (MCD 95.77, -1.03), which posted a relatively disappointing 0.5% increase in global comparable sales in November, and American Airlines (AAL 24.86, +0.91), which completed its merger with US Airways.

12:30 pm: [BRIEFING.COM] Not a great deal of change since the last update. The market has been in a slow fade for the last hour or so after running into technical resistance just above the 1811 mark.

In the next few hours, participants will be contending with Fedspeak.

Richmond Fed President Lacker (not an FOMC voter in 2013 or 2014) gets things started at at 12:50 p.m. ET with a speech that will contain his economic outlook. St. Louis Fed President Bullard (an FOMC voter this year) will follow at 1:05 p.m. ET with a speech discussing monetary policy and the economy. Dallas Fed President Fisher (an FOMC voter in 2014) rounds out the action at 1:15 p.m. ET with a speech on "US and Regional Economic and Banking Trends."

12:00 pm: [BRIEFING.COM] The S&P 500 made a move back to its high for the day, but it received some pushback just above 1811 for the second time this session. In the process, it carved out what appears to be a technical line of resistance in the sand (or snow, if we're being seasonal) for today's participants.

On a related note, the first line of technical support comes in at 1801/1800, so there is still some cushion for the market based on its current standing before participants grow more concerned about downside action.

Looking elsewhere, the 10-yr Treasury note continues to hang in well as it floats near its best level of the day (+4/32 at 2.84%). The dip in yield the past two sessions has put a bid in homebuilding stocks, which are among today's winning standouts. Lennar (LEN 35.58, +1.04) is the biggest gainer there with a 3.0% jump.

11:30 am: [BRIEFING.COM] The major indices are all positive, which belies an otherwise lackluster position internally. To that end, the Advance-Decline line at the NYSE is close to even and it favors decliners at the Nasdaq by a 7-to-5 margin.

What it boils down to then is that price gains in a select group of influential stocks are making the difference for the major indices. Google (GOOG 1080.60, +10.73) and Apple (AAPL 567.88, +7.86) are standard bearers in that respect along with ExxonMobil (XOM 96.07, +0.42), Chevron (CVX 123.57, +1.28), and Goldman Sachs (GS 168.23, +1.02).

With the unanswered question about the Fed's tapering timeline, it is possible that today's participants are gravitating toward large-cap stocks for the liquidity they provide, which makes it easier to get in and out of those stocks based on prevailing market conditions.

11:00 am: [BRIEFING.COM] Market is plodding along with modest gains, underpinned by a steady performance from the financials (+0.4%) today and the continued interest in owning large-cap technology stocks.

The Nasdaq 100 is up 0.5%, which puts it ahead of the pack in today's trading. Conversely, the Russell 2000 (-0.3%) is a notable laggard as small-cap issues feel the pinch of profit taking and perhaps some tax-loss selling interest that tends to pick up this time of year.

In fitting with the broader tone, Goldman Sachs (GS 168.03, +0.82) is a leader in the Dow. McDonald's (MCD 95.48, -1.32), meanwhile, is a notable laggard after reporting a 0.5% increase in global comparable sales for November that was accented by a disappointing 0.8% decline in its US business.

10:30 am: [BRIEFING.COM] Commodities are mostly higher this morning, while the dollar index is modestly lower.

Energy is in the red, except for natural gas futures, which is adding to its 4% gain last week, largely driven by unfavorable weather conditions in the U.S. Front-month natural gas futures (Jan contract) rose as high as $1.7% to $4.18/MMBtu and is now +1.6% at $4.18/MMBtu.

Jan crude oil is currently -0.1% at $97.52/barrel.

Metals are higher this morning with gold and silver futures hitting new session highs in recent trade, which follows losses last week. Feb gold is currently +0.5% at $1235.60/oz, Mar silver is +1.1% at $19.75/oz. Mar copper futures are +0.2% at $3.26/lb.

10:00 am: [BRIEFING.COM] The major indices continue to hold a winning edge, the sharpest of which belongs to the Nasdaq. The latter has risen 0.4% today and it is easy to see why with both Google (GOOG 1080.27, +10.40) and Apple (AAPL 563.46, +3.44) posting early gains. Facebook (FB 48.28, +0.34), Twitter (TWTR 47.53, +2.58) and LinkedIn (LNKD 235.71, +2.72) are some other luminaries still attracting buying interest.

Overall, there simply hasn't been a rush to take profits from Friday's rally. The S&P 500 is roughly two points away from a new, all-time intraday high with some influential support from the financial (+0.5%) and energy (+0.4%) sectors in the early-going.

The Dow Jones Industrial, which saw every component end higher on Friday, is more mixed today.

(Editor's Note: Original comment indicated S&P 500 was at a new all-time high, which wasn't the case.)

9:45 am: [BRIEFING.COM] The major indices started today's session on a slightly higher note as presaged by the action in the futures market. The upside bias has been driven by follow-through buying activity from Friday's broad-based rally.

The telecom services (-0.5%) and the utilities (-0.4%) sectors are the early laggards, which seems fitting given the more offensive-minded nature of the market recently. It can't be said, however, that rising rates today are diminishing interest in those rate-sensitive areas. The 10-yr note is +3/32 with its yield at 2.85%.

The financial (+0.3%), energy (+0.3%), and consumer staples (+0.2%) sectors are early standouts on the winning side of things.

9:23 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +13.00. Markets across Asia were generally higher with Japan's Nikkei (+2.3%) leading the way. The strong gains came as Japan's Q3 Final GDP missed estimates (0.3% QoQ actual v. 0.4% QoQ expected) and the country's current account balance posted a surprise JPY0.06 bln deficit (+JPY1.2 bln expected). Both Prime Minister Shinzo Abe and Bank of Japan Governor Haruhiko Kuroda made headlines overnight, suggesting 'Abenomics' is here to stay. Meanwhile, China's Shanghai Composite (+0.1%) and Hong Kong's Hang Seng (+0.3%) eked out gains after the latest trade data from the Middle Kingdom pointed to a larger than expected trade surplus ($33.8 bln actual v. $21.3 bln expected, $31.1 bln previous) on a jump in exports (12.7% actual v. 7.0% expected). Chinese CPI was also released, slowing to 3% YoY (3.2% YoY previous). Elsewhere, India's Sensex (+1.6%) rallied to all-time highs after results from the latest state elections saw a clean sweep by the opposition party ( Bharatiya Janta Party), which is viewed as more business friendly. Finally, Thailand's SET (+0.4%) edged up after Prime Minister Yingluck dissolved parliament amid anti-government protests.

Across the pond, the European markets are mixed. Spain's IBEX (+0.7%) is out in front while Germany's DAX (+0.4%) trails just behind. The gains in Germany come despite both industrial production (-1.2% MoM actual v. 0.8% MoM expected) and trade balance (EUR16.8 bln actual v. EUR17.4 bln expected, EUR18.7 bln previous) figures missing estimates. Small losses have both Britain's FTSE (-0.1%) and France's CAC (-0.2%) lagging the region. Peripheral yields are lower with the Italian and Spanish 10y both off four basis points at 4.140%.

9:17 am: [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +10.80. The futures market is working to maintain a positive disposition coming off Friday's broad-based rally. It has been successful so far as the S&P futures continue to point to a slightly higher start for the market when trading begins.

There isn't any economic data for the US today, but there is a lineup of Fed speakers, including Richmond Fed President Lacker (12:50 ET), St. Louis Fed President Bullard (13:05 ET), and Dallas Fed President Fisher (13:15 ET), all of whom will be addressing the economy in today's speeches. Mr. Bullard is an FOMC voter this year, Mr. Fisher will be an FOMC voter in 2014. Mr. Lacker does not have an FOMC vote this year and won't in 2014 either.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +10.00. The cash market is on track to start the session on a slightly higher note. Most foreign markets have traded higher on Monday, aided in part by Wall Street's rally on Friday.

Some individual movers of note at this juncture are Sysco (SYY 44.39, +10.08), which is soaring in pre-market action after announcing an agreement to acquire US Foods for a total consideration (equity and debt) of $8.2 bln, and McDonald's (MCD 96.15, -0.65), which is down 0.7% after posting a 0.5% global comparable sales increase for November that was softened by a weak 0.8% decline in its US business.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +9.00. U.S. equity futures are trading slightly above fair value, leaving the cash market on course for a slightly higher open.

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +2.30%, Hong Kong's Hang Seng +0.3%, China's Shanghai +0.1%.
Investors received several economic data points:
China's trade surplus widened to 33.8 billion from 31.1 billion as imports grew 5.3% (7.2% forecast, 7.6% prior) and exports increased 12.7% (7.1% forecast, 5.6% previous). Separately, CPI declined 0.1% month-over-month (0.0% forecast, 0.1% prior) while the year-over-year reading decreased to 3.0% (3.2% forecast, 3.2% prior). Also of note, PPI fell 1.4% year-over-year (-1.4% forecast, -1.5% previous).
Japan's GDP rose 0.3% quarter-over-quarter (0.4% forecast, 0.5% last) while the year-over-year reading climbed 1.1% (1.6% forecast, 1.9% previous). Separately, the current account surplus was JPY -0.128 tln trillion (JPY 0.153 tln forecast) versus prior JPY 0.587 tln and bank lending increased 2.2% (2.0% prior). Also of note, the Economy Watchers Current Index increased to 53.5 (52.3 forecast, 51.8 prior).
New Zealand's Manufacturing Sales rose 4.7% quarter-over-quarter (-1.2% prior).
In news:
Yen trades close to six-month low after weaker-than-expected GDP data

Major European indices...
Economic data was limited:
Eurozone Sentix Investor Confidence ticked down to 8.0 from 9.3.
Germany's industrial production fell 1.2% month-over-month (0.8% consensus, -0.7% prior) and the trade surplus narrowed to EUR16.8 billion from EUR18.7 billion.
Swiss retail sales increased 1.2% (2.1% forecast, 1.0% prior) while the unemployment rate held steady at 3.2%.
Looking at news:
Greece approved a 2014 budget deal with more than 3 bln euro of austerity cuts; Greece expects its economy to grow 0.6% in 2014

In U.S. corporate news:

Walt Disney (DIS 71.46): reports say company plans to purchase Indiana Jones rights from paramount
Kraft Foods (KRFT 54.42, +0.88): upgraded to Overweight from Equal Weight at Morgan Stanley

6:24 am: [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +5.00.

6:24 am: [BRIEFING.COM] Nikkei...15650.21...+350.40...+2.30%. Hang Seng...23811.17...+68.10...+0.30%.

6:24 am: [BRIEFING.COM] FTSE...6540.21...-11.80...-0.20%. DAX...9182.68...+10.60...+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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