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 Post subject: April 2nd Wednesday Trade Results - Profit $2360.00
PostPosted: Wed Apr 02, 2014 1:41 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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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 @ $2,360.00 dollars or +23.60 points, Emini ES ($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 Profit @ $2,360.00 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=129&t=1760

Quote:
The reasons (strategies) behind the trades are only discussed with fee-base clients in real-time within a different private chat room if/when the fee-base client ask questions about any of my trades posted by me in ##TheStrategyLab chat room. Simply, there are different chat rooms @ TheStrategyLab. Trades and price action analysis are posted in ##TheStrategyLab free chat room for public documentation whereas the reasons (strategies) behind my trades are only discussed in the private strategy discussion chat room or with fee-base clients via Skype...the strategy discussion chat room is very active in comparison to ##TheStrategyLab free chat room.

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) general volatility analysis involving WRB Analysis 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 and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ 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=236&t=2302

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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.

New Record For S&P 500, Dow Just Misses

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

NEW YORK (CNNMoney)
The S&P 500 closed at a new record high, its eighth of the year. The Dow Jones Industrial Average just missed closing at a new record, falling short by a mere 3 points.

A late afternoon rally helped power the indexes down the stretch, with the Nasdaq closing higher as well. But a record close for the S&P 500 at 1,890.90 was far from a sure thing during much of the session as stocks gained then retreated several times.

Investors will now turn their attention to Friday's much anticipated March unemployment report.

Today, they kept a close eye on this morning's ADP employment report, which showed a gain of 191,000 private sector jobs last month. That's slightly below expectations, but it was still the strongest job growth in three months.

Factory orders for February also came in better than expected at 1.6% growth for the month.

Pharmaceutical firm Mannkind (MNKD) was one of the hottest stocks of the day after the company said its inhaled diabetes drug Afrezza was given the approval nod by a Food and Drug Administration advisory committee. The FDA is expected to make its final decision on Afrezza in mid-April.

StockTwits traders were excited about the prospects.

"$MNKD Remember the FDA has all the data for a very long time & now they got an overwhelmingly positive vote from the advisory committee - they don't need to wait," said Catalystinvestor.

But topsecret tried to keep today's move in perspective,"$MNKD Realistically, how high could this go after approval...?"

An FDA approval continued to power the stock of Intuitive Surgical (ISRG) today. Shares were up nearly 5%, after jumping 13% on Tuesday after news that the FDA had cleared the latest version of the company's surgical robot system for wider use.

GM (GM, Fortune 500) remained in focus again as CEO Mary Barra returned to Capitol Hill to answer legislators' questions regarding the automaker's botched ignition switch recall. Despite all the negative publicity, GM reported sales Tuesday that topped analysts' expectations and it stock was up today.

Amazon.com (AMZN, Fortune 500) shares ended lower despite unveiling its Amazon FireTV device that enables televisions to access programming from its Amazon Prime subscription service. Amazon joins competitors like Google (GOOG, Fortune 500), Appl (AAPL, Fortune 500)e, Microsoft (MSFT, Fortune 500) and Roku that want to replace set top boxes from cable and satellite companies that sit in your living room.

StrayTrader said Apple was asleep at the switch, "AAPL has delayed Apple TV development and upgrade for so long that $AMZN can step into the void and attack the market."

But profit-guru seemed more excited about the fact that Amazon also unveiled a game controller for the new FireTV device,"$AMZN - fire game controller will be game changer... no brainer stock will go up..IMO."

Shares of Sears Holdings (SHLD, Fortune 500) were up nearly 3% as investors are apparently optimistic about Friday's expected spinoff of its Lands' End clothing business. Sears bought the company in 2002 for $2 billion.

BlackBerry (BBRY) shares were up more than 1% following news that T-Mobile (TMUS) will no longer sell BlackBerry phones after April 25th. BlackBerry owners who use T-Mobile will still be able to use their phones and get product support even after the deadline, but the contract between the two companies won't be renewed according to BlackBerry.

The Rubicon Project (RUBI) began trading today with a bang... up 33%! The online advertising service provider priced its initial public offering last night at $15 a share, on the lower end of expectations.

One stock taking a beating is Apollo Education Group (APOL), down nearly 9%. The online learning company which owns and operates University of Phoenix, reporting lower than expected quarterly revenue.

European markets finished higher as did the Asian markets.

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4:15 pm: [BRIEFING.COM] The stock market meandered inside a narrow range on Wednesday after posting solid gains on Monday and Tuesday. The S&P 500 added 0.3% and notched a fresh record closing high at 1890.90 while the Nasdaq (+0.2%) struggled to stay in the green throughout the session.

Equity indices began the day near their flat lines and maintained narrow ranges into the afternoon before breaking out to fresh highs during the final 30 minutes of action. That thrust placed the Dow Jones Industrial Average above its 2013 closing high of 16576.66 for the first time this year, but the index returned below that level by the close.

Meanwhile, the Nasdaq and S&P 500 extended their respective 2014 gains to 2.4% and 2.3%, but the Nasdaq had a tough time keeping pace with the benchmark index today as large cap tech names and biotechnology lagged.

The technology sector (-0.02%) spent the bulk of the trading day at the bottom of the leaderboard before clawing its way back to the flat line the close. Chipmakers lagged throughout the session with Intel (INTC 25.89, -0.10) falling 0.4% while the PHLX Semiconductor Index lost 0.2%.

For its part, biotechnology displayed strength at the open, but was unable to revisit its morning high as the day wore on. The iShares Nasdaq Biotechnology ETF (IBB 241.60, -0.05) ended little changed while the broader health care sector (+0.4%) finished a bit ahead of the S&P 500.

Elsewhere among influential sectors, financials (+0.1%) lagged while the discretionary sector (+0.7%) finished among the leaders. Homebuilders posted gains with the iShares Dow Jones US Home Construction ETF (ITB 24.71, +0.10) climbing 0.4% while retailers also displayed strength. The SPDR S&P Retail ETF (XRT 86.74, +1.24) jumped 1.5%.

Also of note, the smallest cyclical sector, materials (+0.6%), outperformed amid strength in miners. The Market Vectors Gold Miners ETF (GDX 24.32, +0.63) rose 2.7% while gold futures rose 0.9% to $1290.80/ozt.

Treasuries finished just above their lows after spending the entire morning in a steady retreat. The benchmark 10-yr yield added five basis points to 2.80%.

Participation was well below average with only 640 million shares changing hands at the NYSE.

Today's economic data included just two reports:

According to the ADP National Employment Report for March, employment in the nonfarm private business sector rose by 191K, which was below the increase of 215K expected by the Briefing.com consensus. The February reading was revised up to 178,000 from 139,000.

Factory orders increased 1.6% in February after falling a downwardly revised 1.0% (from -0.7%) in January. The Briefing.com consensus expected an increase of 1.1%. The upside surprise in factory orders was a result of stronger-than-expected nondurable goods orders. Nondurable goods orders increased 1.0% in February, which more than offset the 0.7% decline in January. Durable goods orders were unrevised from the advance report, up 2.2% in February after falling 1.4% in January. Excluding transportation, durable goods orders increased 0.1% in February, down from an originally reported 0.2% gain in the advance report.

Tomorrow, the Challenger Job Cuts report for March will be released at 7:30 ET while weekly initial claims (Briefing.com consensus 320K) and the February Trade Balance (consensus -$39.30 billion) will cross the wires at 8:30 ET. The final report of the day-ISM Services (consensus 53.5)-will be released at 10:00 ET.

Russell 2000 +2.6% YTD
Nasdaq Composite +2.4% YTD
S&P 500 +2.3% YTD
Dow Jones Industrial Average -0.02% YTD

3:30 pm: [BRIEFING.COM]

Precious metals traded higher today despite a stronger dollar index. June gold touched a session low of $1288.10 per ounce as pit trade opened and chopped around in a consolidative pattern just above the $1290 per ounce level for the remainder of the session. It eventually settled with a 0.9% gain at $1290.80 per ounce.
May silver traded near the $20 per ounce level and settled with a 1.9% gain at $20.06 per ounce.
May crude oil traded in negative territory and fell to a session low of $98.86 per barrel despite bullish inventory data.
The EIA reported that for the week ending Mar 28, crude oil inventories had a draw of 2.4 mln barrels while consensus called for a build of 1.1-2.5 mln barrels.
The energy component managed to erase most of the loss as it gained momentum heading into the close. It settled 0.1% lower at $99.63 per barrel, slightly below its session high of $99.74 per barrel.
May natural gas trended higher, rising as high as $4.39 per MMBtu after it lifted from a session low of $4.31 per MMBtu set in early morning pit trade. It settled at $4.36 per MMBtu, booking a 2.1% gain.

3:05 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.2% with one hour remaining in today's session. The benchmark index enters the last hour of action trading near the middle of today's seven-point range after establishing a new intraday record high (1890.85) this morning.

Sector standing hasn't changed much with the discretionary space (+0.6%) continuing its outperformance. In fact, the sector has done some heavy lifting since Monday with today's gain extending its week-to-date advance to 2.6%. Industrials (+0.6%) and materials (+0.6%) are tied for the second spot as both sport week-to-date gains of 2.3%.

12:55 pm: [BRIEFING.COM] The major averages hold slim midday gains after spending the first half of the session inside narrow ranges. The S&P 500 trades higher by 0.2% while the Dow Jones Industrial Average (+0.1%) and Nasdaq Composite (+0.1%) follow not far behind.

Equity indices began the trading day on a quiet note, and that is also how the first half of today's session has unfolded. The S&P 500 has notched a fresh intraday record high at 1890.85 while the Dow tried, but was unable, to turn positive for the year.

Meanwhile, the Nasdaq Composite has held a slim gain through the first half, but has been subjected to some whipsaw action due to the underperformance of the technology space (-0.1%) and continued volatility in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 241.05, -0.60) hovers below its flat line after starting the session with a solid gain. For its part, the broader health care sector (+0.2%) follows not far behind the broader market.

Similar to health care, two other top-weighted sectors can be found among the laggards. Financials (+0.1%) display a modest gain while technology hovers in the red. Large cap components are responsible for the relative weakness as Cisco Systems (CSCO 22.86, -0.24), Oracle (ORCL 41.12, -0.37), and Intel (INTC 25.73, -0.26) trade with losses close to 1.0% apiece.

Even though the top three sectors lag, the fourth largest group-consumer discretionary (+0.7%)-trades well ahead of the broader market. Homebuilders sport modest gains (ITB +0.6%) while retailers trade broadly higher with the SPDR S&P Retail ETF (XRT 86.51, +1.01) up 1.2%.

Treasuries hover near their lows after retreating steadily since this morning. The benchmark 10-yr yield is higher by five basis points at 2.80%.

Today's economic data was limited to two reports:

According to the ADP National Employment Report for March, employment in the nonfarm private business sector rose by 191K, which was below the increase of 215K expected by the Briefing.com consensus. The February reading was revised up to 178,000 from 139,000.

Factory orders increased 1.6% in February after falling a downwardly revised 1.0% (from -0.7%) in January. The Briefing.com consensus expected an increase of 1.1%. The upside surprise in factory orders was a result of stronger-than-expected nondurable goods orders. Nondurable goods orders increased 1.0% in February, which more than offset the 0.7% decline in January. Durable goods orders were unrevised from the advance report, up 2.2% in February after falling 1.4% in January. Excluding transportation, durable goods orders increased 0.1% in February, down from an originally reported 0.2% gain in the advance report.

12:30 pm: [BRIEFING.COM] Recent action saw biotechnology continue retreating from its opening high with the iShares Nasdaq Biotechnology ETF (IBB 241.27, -0.38) slipping into the red. As a result, the health care sector has narrowed its gain to 0.2% while the Nasdaq (+0.1%) has also taken a step back and now trades just above its flat line.

On the upside, consumer discretionary (+0.7%) and industrials (+0.6%) continue leading the broader market. The telecom services sector (+0.8%) trades ahead of the two, but the countercyclical group has a negligible say in the performance of the market considering it accounts for just 2.5% of the entire S&P 500.

Elsewhere, Treasuries remain just above their session lows with the 10-yr yield up five basis points at 2.80%.

12:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.2% with seven sectors showing gains.

Of the six cyclical groups, the two largest sectors-technology (-0.1%) and financials (-0.1%)-hover in the red while the remaining four sectors hover in the green.

As mentioned earlier, consumer discretionary (+0.7%) and industrials (+0.5%) lead while energy (+0.1%) and materials (+0.4%) display more modest gains.

Notably, the materials sector has received support from miners as the Market Vectors Gold Miners ETF (GDX 24.32, +0.63) trades higher by 2.7% while gold futures trade up 1.0% at $1292.10/ozt.

11:25 am: [BRIEFING.COM] Equity indices continue sporting slim gains with the Nasdaq struggling to stay above its flat line as technology (-0.1%) weighs.

The tech sector trades in the red amid weakness in most of its top components. Apple (AAPL 541.07, -0.58), Google (GOOG 1131.46, -3.43), Oracle (ORCL 41.16, -0.34), and Intel (INTC 25.84, -0.15) display losses between 0.1% and 0.8%.

Elsewhere, biotechnology surged out of the gate, but the industry group has since returned to its opening levels. The iShares Nasdaq Biotechnology ETF (IBB 242.51, +0.86) trades higher by 0.4% while the broader health care sector (+0.3%) trades a bit ahead of the S&P 500.

Also of note, Treasuries have been retreating steadily since this morning's data. As a result, the benchmark 10-yr yield is higher by five basis points at 2.80%.

10:55 am: [BRIEFING.COM] The Dow Jones Industrial Average (+0.2%) and S&P 500 (+0.2%) have climbed to new session highs while the Nasdaq (+0.2%) has retreated from its early high.

Generally speaking, the major averages have held inside narrow ranges through the first 90 minutes of action. Only a handful of sectors began the session with gains, but at this time, seven of ten groups trade in the green with industrials (+0.6%) in the lead thanks to the continued strength among transports. The Dow Jones Transportation Average, which is seeing its fourth consecutive advance, trades higher by 0.9%, extending its week-to-date gain to 3.5%.

Outside of industrials, the discretionary sector (+0.6%) is also showing noteworthy strength. Homebuilders trade in the green (ITB +0.4%) while retailers sport broad gains with the SPDR S&P Retail ETF (XRT 86.48, +0.98) trading higher by 1.2%.

10:35 am: [BRIEFING.COM]

Gold and silver futures rallied this morning as buyers stepped in after a multi-week decline in both.
June gold is currently +1% at $1293/oz, May silver is +1.9% at $20.07/oz.
Silver pushed above the $20/oz level, but gold has remained below $1300/oz.
Crude oil futures have been in the red all day and fell below $99/barrel this morning.
Following weekly inventory data, May crude oil showed a muted reaction and is now -0.6% at $99.15/barrel.
Natural gas futures were in the red overnight in a consolidated pattern. In early morning trade, nat gas gained steam and rallied to a recently-hit new session high. May nat gas is currently +1.9% at $4.36/MMBtu
May copper has been in positive all day so far and is now +0.5% at $3.05/lb.

10:00 am: [BRIEFING.COM] The major averages trade right near their respective flat lines.

The just-released factory orders report for February indicated orders increased 1.6%, which was better than the Briefing.com consensus estimate that called for an increase of 1.1%. The January reading was revised down to -1.0% from -0.7%.

9:40 am: [BRIEFING.COM] Equity indices began the session near their flat lines with the Nasdaq (+0.3%) showing early strength for the third day in a row. Meanwhile, the S&P 500 (-0.1%) has slipped into the red amid losses in seven of ten sectors.

Most notably, the financial sector (-0.2%), which lagged yesterday, began today's affair behind the remaining cyclical groups. Elsewhere, the largest S&P 500 sector, technology, hovers right at its flat line.

On the upside, consumer discretionary (+0.2%), health care (+0.2%), and industrials (+0.2%) hover in the green.

The February Factory Orders report will be released at 10:00 ET.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: +5.50. After posting two consecutive gains to start the week, the stock market is on track to begin today's session on a flat note. The S&P 500 futures hover right above fair value after surrendering their slim overnight gains over the past three hours.

Participants received just one economic data point this morning. The ADP National Employment Report for March indicated an increase of 191K while the Briefing.com consensus expected the reading to come in at 215K. The February reading, meanwhile, was revised up to 178,000 from 139,000.

Treasuries slipped to lows following the ADP data, pushing the benchmark 10-yr yield up three basis points to 2.79%.

The Factory Orders report for February will be released at 10:00 ET.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +3.50. The S&P 500 futures trade in line with fair value.

Most Asian markets rallied with action piggybacking the gains on Wall Street. Reports in Shanghai Securities News indicated Beijing may ease property curbs in some cities in order to prevent a downturn in the property sector.

In regional data of note, Australia's building approvals (-5.0% month-over-month versus expected -1.7%) fell well short of estimates.

Japan's Nikkei rose 1.0%, gaining for the fifth time in six sessions. Renseas Electronics was the big winner, up 6.0%, following reports Apple may be looking to take a stake in the company.
Hong Kong's Hang Seng climbed 0.3% to its best level in more than three weeks. Property shares saw robust gains as China Land Resources surged 4.7% and Sun Hung Kai Properties gained 4.1%.
China's Shanghai Composite rose 0.6%, reclaiming its 50-day moving average. Infrastructure-related plays were among the leaders as Baoshan Iron & Steel and Huaxin Cement added 1.3% and 3.8%, respectively.

Core European indices trade little changed while peripheral markets lag with Italy's MIB trading lower by 0.6%. Participants received several data points. Eurozone GDP was revised down to 0.2% quarter-over-quarter from 0.3% (consensus 0.3%) while the year-over-year reading held steady at 0.5%, as expected. Separately, PPI fell 0.2% month-over-month (expected -0.1%, prior -0.3%) while the year-over-year reading indicated a 1.7% decline (consensus -1.6%, last -1.4%). Great Britain's Construction PMI ticked down to 62.5 from 62.6 (expected 63.0) while Nationwide HPI rose 0.4% month-over-month (consensus 0.8%, prior 0.7%). Elsewhere, Spain's unemployment claims declined 16,600 (consensus -5,300, prior -1,900).

Among news of note, European finance ministers are continuing their meeting in Athens today while the European Central Bank will release its latest policy statement tomorrow at 7:45 ET with Mario Draghi's press conference set to follow at 8:30 ET.

Germany's DAX is higher by 0.2% with financials showing strength. Commerzbank and Deutsche Bank trade higher by 1.2% and 0.5%, respectively. On the downside, health care names Bayer, Henkel, and Merck display losses between 0.3% and 1.2%.
Great Britain's FTSE trades up 0.1% as miners outperform. Antofagasta and Fresnillo lead with respective gains of 3.4% and 2.7%. Consumer names lag with WM Morrison Supermarkets and Diageo down 2.2% and 1.4%, respectively.
In France, the CAC is flat. ArcelorMittal and Cie de St-Gobain are both down near 1.5% while financials outperform. AXA and Societe Generale hold respective gains of 1.2% and 0.3%.
Italy's MIB is lower by 0.6% with financials under pressure. Banco Popolare, Mediobanca, and UniCredit hold losses between 1.6% and 3.1%.

8:26 am: [BRIEFING.COM] S&P futures vs fair value: +0.90. Nasdaq futures vs fair value: +5.20. The S&P 500 futures trade one point above fair value.

According to today's ADP National Employment Report, employment in the nonfarm private business sector rose by 191K in March. This was below the increase of 215K expected by the Briefing.com consensus. Also of note, the February reading was revised up to 178,000 from 139,000.

7:58 am: [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +3.20. U.S. equity futures trade little changed amid subdued action overseas. The S&P 500 futures hover right below fair value.

Reviewing overnight developments:

Asian markets ended higher. Hong Kong's Hang Seng +0.3%, China's Shanghai Composite +0.6%, and Japan's Nikkei +1.0%.
In economic data:
Japan's Monetary Base expanded 54.8% year-over-year (expected 60.2%, prior 55.7%).
Australia's Building Approvals fell 5.0% month-over-month (consensus -2.5%, last 6.9%).
New Zealand's ANZ Commodity Price Index slipped 0.1% month-over-month (last 0.9%).
In news:
According to Shanghai Securities News, governments in some smaller Chinese cities are debating lifting certain property curbs in order to prevent a downturn in housing.

Major European indices trade in mixed fashion. Great Britain's FTSE +0.1%, Germany's DAX +0.1%, and France's CAC is flat. Elsewhere, Spain's IBEX -0.5% and Italy's MIB -0.6%.
Participants received several data points:
Eurozone GDP was revised down to 0.2% quarter-over-quarter from 0.3% (consensus 0.3%) while the year-over-year reading held steady at 0.5%, as expected. Separately, PPI fell 0.2% month-over-month (expected -0.1%, prior -0.3%) while the year-over-year reading indicated a 1.7% decline (consensus -1.6%, last -1.4%).
Great Britain's Construction PMI ticked down to 62.5 from 62.6 (expected 63.0) while Nationwide HPI rose 0.4% month-over-month (consensus 0.8%, prior 0.7%).
Spain's unemployment claims declined 16,600 (consensus -5,300, prior -1,900)
Among news of note:
European finance ministers are continuing their meeting in Athens today while the European Central Bank will release its latest policy statement tomorrow at 7:45 ET with Mario Draghi's press conference to follow at 8:30 ET.

In U.S. corporate news:

Apollo Education (APOL 33.76, -1.40): -4.0% after reporting a bottom-line beat on below-consensus revenue.
Intuitive Surgical (ISRG 504.60, +11.00): +2.2% after the company was upgraded to 'Market Outperform' from 'Market Underperform' at JMP Securities.

The weekly MBA Mortgage Index fell 1.2% to follow last week's decline of 3.5%. The March ADP Employment Change will be announced at 8:15 ET (Briefing.com consensus 215K) while February Factory Orders report (Briefing.com consensus 1.1%) will be released at 10:00 ET.

6:27 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +6.00.

6:27 am: [BRIEFING.COM] Nikkei...14946.32...+154.30...+1.00%. Hang Seng...22523.94...+75.40...+0.30%.

6:27 am: [BRIEFING.COM] FTSE...21819.24...+17.40...+0.30%. DAX...9632.67...+29.00...+0.30%.

S&P 500 Climbs With Dollar While Treasuries Drop on Data

By Joseph Ciolli and Callie Bost Apr 2, 2014 4:05 PM ET

The Standard & Poor’s 500 Index extended its all-time high and Treasuries fell as a report showed U.S. companies added to payrolls last month. The dollar strengthened with copper and gold.

The S&P 500 gained 0.3 percent to 1,890.90 at 4 p.m. in New York, after reaching a record yesterday. The Dow Jones Industrial Average rose 0.2 percent, briefly erasing its loss for the year. The yield on 10-year Treasuries increased five basis points to 2.80 percent. The Stoxx Europe 600 Index added 0.2 percent. The dollar climbed to a two-month high against the yen. Copper advanced 0.2 percent following an earthquake in Chile and gold jumped for the first time in six days. Crude futures pared earlier losses.

Companies in the U.S. added 191,000 jobs in March, less than the 195,000 median estimate in a Bloomberg survey, figures from the ADP Research Institute showed before the government’s employment report on Friday. The value of equities worldwide climbed to an all-time high of $63.09 trillion yesterday as reports showed a pickup in American manufacturing and vehicle sales. Mining companies reported no damage after the 8.2-magnitude earthquake in Chile that killed six people.

“The positive tone from yesterday is most likely to continue into the jobs report, absent some big macro piece of data that comes out between now and then,” Michael James, a Los Angeles-based managing director of equity trading at Wedbush Securities Inc., said in a phone interview. “Longer-term investors are still of the opinion that the U.S. equity market remains one of the best places to be invested for this year.”

The S&P 500 rose 0.7 percent yesterday as consumer and technology stocks pushed the gauge to a record and an index of manufacturing boosted optimism the economy withstood the severe winter weather.

Freezing Temperatures

Federal Reserve stimulus has helped propel the S&P 500 higher by as much as 180 percent from its bear-market low in March 2009. The equity gauge climbed 1.3 percent in the first three months of 2014, its fifth consecutive quarterly advance.

The equities benchmark trades at 17.5 times reported earnings, the highest level since 2010 and 11 percent above its five-year average, according to data compiled by Bloomberg.

Treasuries fell amid speculation the U.S. economy is improving enough for the Fed to raise interest rates next year.

Fed Chair Janet Yellen said last month the central bank may end the bond-buying program it uses to support the economy this fall and increase borrowing costs six months after that. She said this week that “considerable slack” in labor markets showed that the central bank’s accommodative policies will be needed for “some time.”

The central bank has kept its target for federal funds, the rate banks charge each other on overnight loans, in a range of zero to 0.25 percent since 2008.

Fed Comments

Fed Bank of St. Louis President James Bullard said in a Bloomberg Radio interview today that a further slowing of inflation could prompt policy makers to suspend tapering of bond purchases, though he doesn’t expect that to happen.

Central bank policy should remain accommodative “for quite some time” given “considerable amount” of economic slack that remains, Atlanta Fed President Dennis Lockhart said in a speech in Miami.

Reports from hiring to factory output had shown weakness this year as freezing temperatures and mountains of snow kept shoppers indoors, grounded flights and made it harder for shippers to fill product orders.

A release from the Commerce Department today showed factory orders rose 1.6 percent in February, topping economists’ estimates for a 1.2 percent advance.

ETF Investing

Investors have removed $3.7 billion from U.S. equity exchange-traded funds in the past five days and added $1.3 billion to bond ETFs, data compiled by Bloomberg show. Financial stocks saw the most money removed among industry ETFs, losing $489.2 million during the past week.

The Chicago Board Options Exchange Volatility Index, a gauge for U.S. stock volatility known as the VIX, dropped 0.1 percent to 13.09, falling for a fifth straight day.

The Stoxx 600 climbed for a seventh straight day, the longest streak since October. Deutsche Post AG added 4.6 percent after Europe’s largest mail service predicted operating profit will rise. Deutsche Boerse AG lost 2.2 percent after saying U.S. regulators are probing its Clearstream Banking unit.

German 10-year bonds led most euro-area sovereign debt lower as investors bet the European Central Bank will refrain from adding new stimulus to tackle slowing inflation. The yield climbed 4 basis points to 1.62 percent after ECB Vice President Vitor Constancio said yesterday the euro area will probably avoid outright deflation. Germany sold 2.4 billion euros ($3.3 billion) of five-year notes today.
Emerging Markets

The MSCI Emerging Markets Index increased 0.3 percent, gaining for a ninth straight day. The Shanghai Composite Index climbed 0.6 percent to the highest level in a week as developers rallied on speculation the government will relax housing curbs. Brazil’s Ibovespa rallied 2.8 percent, erasing this year’s drop.

Copper advanced for a second day, climbing to a three-week high. Chile is the biggest producer of the metal. Santiago-based Codelco, the largest miner of copper, KGHM Polska Miedz SA and Pan Pacific Copper Co. said their projects and mines escaped damage from the earthquake.

Aluminum climbed 1.9 percent to the highest since Dec. 30 after trading above the 200-day moving average for the first time since October. Brazilian aluminum companies, producing at the lowest level in 12 years amid high power costs and metal-price declines, expect authorities to ration supply as a drought curbs hydroelectric generation in the country.

Crude Oil

Brent crude dropped below $105 a barrel for the first time since November after rebels in eastern Libya said they were close to a deal to reopen ports.

West Texas Intermediate crude fell 0.1 percent to $99.62 a barrel, paring an earlier drop of 0.9 percent. A government report showed that U.S. crude inventories decreased 2.38 million barrels to 380.1 million last week. Stockpiles were projected to climb 2.5 million barrels, according to the median of analyst responses in a Bloomberg survey.

U.S. natural gas jumped 2.1 percent, erasing an earlier loss and snapping a three-day decline, on speculation that an unusually cold start to spring will reduce supplies already at an 11-year low.

Gold rose 0.8 percent to $1,290.90 an ounce, ending the longest slump since November, on speculation that demand for bars and jewelry will increase in China after futures touched a seven-week low. Gold slipped 2.9 percent in March, partly on the outlook for reduced stimulus in the U.S.

The dollar rose against most of its 16 major peers. The U.S. currency strengthened 0.2 percent to 103.86 yen after touching 103.94, the highest since Jan. 23. It jumped 1 percent to 85.54 cents per New Zealand dollar. The euro fell 0.2 percent to $1.3765.

To contact the reporters on this story: Joseph Ciolli in New York at jciolli@bloomberg.net; Callie Bost in New York at cbost2@bloomberg.net

To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net Jeff Sutherland

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)
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