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Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
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 Post subject: April 7th Monday Trade Results - Profit $3110.00
PostPosted: Mon Apr 07, 2014 10:43 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 @ $2,610.00 dollars or +26.10 points, Emini ES ($ES_F) futures @ $500.00 dollars or +10.00 points, Light Crude Oil CL ($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 @ $3,110.00 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=1763

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.

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.

Stocks: How Low Can You Go?

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

NEW YORK (CNNMoney)
Investors played a game of "how low can you go" today as the three-day selloff continued to mount.

The Nasdaq closed down more than 1% after sliding a combined 3.6% on Thursday and Friday. The S&P and Dow also finished 1% lower with the Dow closing near its nadir of the day.

Even worse news is that all three of these major US stock indexes are now negative for the year.

The most plausible explanation for what's going on is that investors are rotating out of growth stocks, especially in the tech sector, and reinvesting into value stocks.

"They took the escalator up and the elevator down," said Sal Arnuk at Themis Trading about the damage done to momentum names over the past three days.Tesla (TSLA), Priceline.com (PCLN, Fortune 500) and Baidu (BIDU) continued to drop today.

Today's "losers' club" also included Apple (AAPL, Fortune 500), Google (GOOG, Fortune 500) and Yahoo (YHOO, Fortune 500). Despite reports Yahoo may be looking to produce original content like Netflix, there was little love for the company, which was down over 3%.

As investors look for where to put their money, they turned to "old tech" names, such as CNNMoney Tech 30 index members IBM (IBM, Fortune 500), Microsoft (MSFT, Fortune 500), Intel (INTC, Fortune 500) and Cisco (CSCO, Fortune 500).

As Joe Bell of Schaeffer's Investment Research put it: "Little pockets of strength in technology are one of the few positive signs today."

Then there's biotech. Investors aren't sure what to make of these companies at the moment. The iShares Nasdaq Biotechnology ETF (IBB) took a beating on Friday with a 4% drop. Today it was up and down before finally finishing higher.

*Video - Tech stock pullback not over yet

In stock news, Sears Holdings (SHLD, Fortune 500) plunged over 6%. Its was the first day of trading after the Friday spinoff of its Lands' End (LEDMV) unit.

WW (WWE) got dropkicked today after a phenomenal year-long run. chicagosean described it like this,"$WWE is doing a Jimmy Supa-fly Snooka off the turnbuckle!!"

Over the weekend WWa (WWE)ired its WrestleMania 30th Anniversary pay-per-view event, but perhaps investors are underwhelmed that the WWE Network has only signed up 667,000 subscribers in the past six weeks.

TXplunger characterized the sell-off like this, "$WWE When everyone is anticipating an event in a name that is near an all time high, it's usually a 'sell the news'".

Related: Stock experts say the bull isn't dead yet


Elsewhere in the market, drug makers were on the move. Shares of bellwether Pfizer (PFE, Fortune 500)slid, off nearly 3% today. Its breast cancer drug did well in tests, but the results may not have lived up to investor expectations.

It's better news for Agios Pharmaceuticals (AGIO). The stock ended up over 25% after the company reported promising results in the first clinical trial of its leukemia drug.

Questcor Pharmaceutical (QCOR)was one of the top trending stocks on StockTwits all day. It soared after Ireland's Mallinckrodt (MNK) announced it would buy the autoimmune drug maker for $5.6 billion.

Here's why michellelang thought $MNK was falling: "Shareholders seem pissed about having their shares diluted with $QCOR contamination." And ht7896 seemed let down by the deal, "Having been long $QCOR for several years now, I'm actually quite disappointed that the buyout price was so low."

If there's anything concrete behind these latest market swings, it might be corporate earnings. The reports begin this week with Alcoa on Tuesday, and big banks JPMorgan Chase and Wells Fargo on Friday.

Earnings for companies in the S&P 500 are expected to be down 1.2% in the first quarter, according to estimates from FactSet.

For all the doom and gloom, stock experts surveyed by CNNMoney say the bull market still has room to run. Most expect the S&P 500 to gain 6.5% this year.

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4:15 pm: [BRIEFING.COM] The stock market began the new trading week on the defensive, with the major averages posting losses across the board. The Russell 2000 (-1.5%) and Nasdaq (-1.2%) led the retreat, while the Dow Jones Industrial Average (-1.0%) and S&P 500 (-1.1%) fared a bit better.

The major averages started the session in the red with little help from other global indices as markets in Asia and Europe posted losses. Contributing to the cautious sentiment was an apparent escalation of tensions in Eastern Ukraine, where pro-Russian protesters, demanding referendums on independence, took control of government buildings in four cities. Most notably, protesters in Donetsk called on Russian President Vladimir Putin to send in Russian peacekeepers.

Similar to Friday, equity indices spent the session in a steady retreat as momentum names remained volatile. Biotechnology displayed early strength, but the industry group notched a session high during the opening hour before spending the remainder of the day in a battle with its flat line. The iShares Nasdaq Biotechnology ETF (IBB 226.82, +1.52) tacked on 0.7%, while SPDR S&P Biotechnology ETF (XBI 133.22, -0.24) shed 0.2%. For its part, the health care sector (-1.1%) ended in-line with the S&P 500, while consumer staples (+0.3%), telecom services (unch), and utilities (-0.2%) outperformed.

Elsewhere, the six cyclical sectors registered losses between 0.8% and 1.9%. Even though the tech-heavy Nasdaq Composite lagged, the technology sector (-0.8%) outperformed thanks to gains in some top components. Cisco Systems (CSCO 22.85, +0.14), IBM (IBM 194.52, +2.75), and Intel (INTC 26.48, +0.32) posted gains between 0.6% and 1.4%, while momentum names remained volatile. Facebook (FB 56.95, +0.20) gained 0.4%, while LinkedIn (LNKD 159.65, -6.18) and Tesla (TSLA 207.52, -4.70) lost 3.7% and 2.2%, respectively.

Other momentum names like Amazon.com (AMZN 317.76, -5.24) and Priceline.com (PCLN 1169.73, -8.35) played a part in the underperformance of the consumer discretionary sector (-1.9%), which widened its year-to-date loss to 5.2%. Retailers ended broadly lower with the SPDR S&P Retail ETF (XRT 83.01, -1.89) falling 2.2%, while homebuilders did not have a much better showing. The iShares Dow Jones US Home Construction ETF (ITB 23.94, -0.65) lost 2.6%.

With stocks ending near their lows, participants displayed demand for volatility protection, sending the CBOE Volatility Index (VIX 15.57, +1.61) to mid-March levels.

Treasuries posted modest gains with the benchmark 10-yr yield slipping three basis points to 2.70%.

For the second session in a row, participation was above average with nearly 820 million shares changing hands at the NYSE.

Today's economic data was limited to the Consumer Credit report for February, which indicated an increase of $16.50 billion after increasing an upwardly revised $13.80 billion (from $13.70 billion) in January. That was the largest monthly expansion since October 2013. The Briefing.com consensus expected consumer credit to increase by $14.30 billion. Typically, consumer credit is a volatile measure that often goes through substantial revisions before the final data are released. The revisions to January, however, were much milder than normal.

Tomorrow's economic data will be limited to the Job Openings and Labor Turnover Survey, which will be released at 10:00 ET.

S&P 500 -0.2% YTD
Dow Jones Industrial Average -2.0% YTD
Russell 2000 -2.2% YTD
Nasdaq Composite -2.3% YTD

3:30 pm: [BRIEFING.COM]

June gold traded lower today despite weakness in the dollar index. It dipped to a session low of $1295.80 per ounce in late morning action and eventually settled at $1298.20 per ounce, or 0.4% lower.
May silver spent most of the floor session in the red, trading as low as $19.77 per ounce in early morning action. It rose to a session high of $20.01 per ounce but fell back below the unchanged line and settled with a 0.3% loss at $19.91 per ounce.
May crude oil fell for the first time in three sessions on reports that Libya's conflicting parties reached a deal to open 2 ports, essentially doubling its capacity.
The energy component touched a session high of $101.32 per barrel in morning action but quickly reversed back into the red. It brushed a session low of $99.92 per barrel and settled with a 0.7% loss at $100.44 per barrel.
May natural gas, on the other hand, traded higher, rising as high as $4.53 per MMBtu. It sold off slightly heading into the close and settled with a 0.9% gain at $4.47 per MMBtu.

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.9% with one hour remaining in the session.

The Consumer Credit report for February was just released by the Federal Reserve and it showed that consumer credit increased by $16.50 billion. That was higher than the Briefing.com consensus estimate of $14.30 billion. The prior month's credit growth was revised higher to $13.80 billion from $13.70 billion.

2:30 pm: [BRIEFING.COM] The S&P 500 trades lower by 1.2% as the afternoon continues.

With 90 minutes left in the trading day, today's session is proving to be an extension of Friday's weakness. Given the continuous pressure, participants have shown significant interest in volatility protection, sending the CBOE Volatility Index (VIX 15.97, +2.01) to mid-March levels.

Elsewhere, Treasuries are not far below their best levels of the day with the 10-yr yield down four basis points at 2.69%.

The Consumer Credit report for February will be released at 15:00 ET.

2:00 pm: [BRIEFING.COM] Not much change has taken place since our last update as the key indices remain near their lows. The S&P 500 holds a loss of 1.1%, while the Russell 2000 (-1.8%) and Nasdaq (-1.5%) lag.

Over the course of this week, participants will receive a few earnings reports as the Q1 earnings season gets underway. Following tomorrow's close, Alcoa (AA 12.36, -0.27) will report its results, while JPMorgan Chase (JPM 59.03, -0.78) will be the first Dow component to reveal its quarterly earnings on Friday.

The Capital IQ consensus expects Alcoa to report year-over-year earnings decay of 54.5% on $5.54 billion in revenue, while JPMorgan Chase is expected to announce bottom-line decay of 11.9% on revenue of $24.80 billion.

1:30 pm: [BRIEFING.COM] Sellers remain in control as the major averages trade near their recently-established lows. The S&P 500 trades lower by 1.0% with seven sectors showing losses.

The discretionary space (-2.1%) is the worst-performing sector of the day amid broad weakness. Retailers have played a significant part in the underperformance as the SPDR S&P Retail ETF (XRT 83.03, -1.87) trades lower by 2.2%. Media-related stocks also trade lower across the board with Comcast (CMCSA 48.81, -1.37) and Disney (DIS 79.14, -1.30) down 2.7% and 1.6%, respectively.

On the upside, consumer staples (+0.5%) and utilities (+0.5%) continue holding solid gains.

1:00 pm: [BRIEFING.COM] At midday, the major averages hover near their lows with small caps leading the retreat. The Russell 2000 (-1.3%) and Nasdaq Composite (-1.0%) lag, while the S&P 500 trades lower by 0.8% with seven sectors showing losses.

Equity indices have spent the first half of today's session in the red, continuing the selloff that began on Friday. The U.S. stock market did not get any help from other global markets as major indices in Asia and Europe posted losses.

It is worth mentioning that the sentiment among investors has not been helped by news out of Ukraine, indicating protesters in Donetsk and two other cities in the eastern part of the country stormed local government buildings in hopes of forcing independence referendums similar to what took place in Crimea on March 16.

Overall, the bulk of today's selling pressure has been concentrated among cyclical sectors, while three countercyclical groups-consumer staples (+0.5%), telecom services (+0.1%), and utilities (+0.4%)-display gains. The fourth defensive sector-health care (-0.7%)-hovers in the red amid continued volatility in biotech.

Biotechnology has been in focus lately, with the industry group struggling to find support after the recent selloff. Today, the iShares Nasdaq Biotechnology ETF (IBB 226.51, +1.50) surged out of the gate, but has since retreated from its session high. Meanwhile, the SPDR S&P Biotech ETF (XBI 133.32 -0.11) trades lower by 0.1%.

Of the six cyclical sectors, only technology (-0.8%) trades ahead of the broader market thanks to gains among top components. Cisco Systems (CSCO 23.00, +0.29), IBM (IBM 194.00, +2.23), and Intel (INTC 26.62, +0.46) display gains between 1.2% and 1.8%, while momentum names remain weak. Facebook (FB 56.16, -0.59), Tesla (TSLA 206.85, -5.41), and Workday (WDAY 78.17, -2.51) hold losses between 1.0% and 3.1%.

Elsewhere, momentum names also weigh on the discretionary sector (-1.8%) with the likes of Amazon.com (AMZN 315.62, -7.38) and Priceline.com (PCLN 1153.02, -25.06) down 2.3% and 2.1%, respectively.

Homebuilders are not having a much better showing as the iShares Dow Jones US Home Construction ETF (ITB 24.00, -0.59) trades lower by 2.4%.

Treasuries hover near their highs after climbing steadily since the New York open. The benchmark 10-yr yield is lower by three basis points at 2.69%.

Today's economic data will be limited to the Consumer Credit report for February, which will be released at 15:00 ET.

12:25 pm: [BRIEFING.COM] Sellers remain in control with the major averages trading on their lows. The Russell 2000 (-1.8%) is the weakest performing index while the Dow (-0.8%) sports the slimmest loss.

Including today's decline, the Russell is lower by 2.5% so far in 2014, which puts the index behind the remaining averages. The Dow (-1.8%) and Nasdaq (-2.4%) also sport year-to-date losses, while the S&P 500 is currently flat for the year.

With regard to individual sectors, the discretionary space (-2.1%) trails the remaining nine sectors, extending its year-to-date loss to 5.4%.

12:00 pm: [BRIEFING.COM] The major averages have dropped to fresh lows amid a recent wave of selling that knocked the iShares Nasdaq Biotechnology ETF (IBB 225.92, +0.62) back near its flat line.

Elsewhere, a handful of cyclical sectors have also faced some recent selling. As a result, consumer discretionary (-1.6%), energy (-1.0%), financials (-1.2%), industrials (-1.1%), and materials (-1.1%) all trade with losses of 1.0% or more.

With stocks continuing their retreat, Treasuries are seeing strength that has the benchmark 10-yr note trading near its session high with its yield down four basis points at 2.68%.

11:30 am: [BRIEFING.COM] Equity indices continue holding their recent levels with the S&P 500 trading lower by 0.6%.

Overall, cyclical sectors are responsible for today's losses with the exception of the technology space (-0.4%), which trades ahead of the S&P 500. The largest S&P 500 sector outperforms amid gains in some heavily-weighted components. Cisco Systems (CSCO 22.99, +0.28), IBM (IBM 194.10, +2.33), Qualcomm (QCOM 79.24, +0.71) sport gains between 0.9% and 1.2%, while Intel (INTC 26.68, +0.52) trades higher by 2.0% after being upgraded to 'Outperform' from 'Sector Perform' at Pacific Crest.

Technology notwithstanding, other growth-sensitive groups hold losses between 0.8% and 1.3% with the discretionary space showing the largest decline.

On the countercyclical side, consumer staples (+0.4%), health care (-0.4%), telecom services (+0.1%), and utilities (+0.7%) outperform.

10:55 am: [BRIEFING.COM] The past hour saw some divergence among the major averages as the Nasdaq (-0.6%) made a brief appearance in the green before returning to its opening level, while the S&P 500 (-0.6%) has returned to its session low. For its part, the Dow Jones Industrial Average (-0.7%) has slumped to a fresh session low.

Momentum names continue showing volatility while biotechnology has climbed off its opening low. The iShares Nasdaq Biotechnology ETF (IBB 228.99, +3.69) is higher by 1.6% as it hovers not far above its 200-day moving average (218).

With biotechnology in the midst of a rebound, the health care sector (-0.2%) trades ahead of the broader market, while two other heavily-weighted groups-consumer discretionary (-1.3%) and financials (-0.8%)-lag. The two sectors deserve close attention throughout the session given their size. Together, the pair accounts for nearly 30% of the entire S&P 500.

10:35 am: [BRIEFING.COM]

The dollar index has been sliding lower all day so far, which has provided strength to only select commodities this morning
Copper has displayed a nice climb off of its overnight low of $3/lb, steadily climbing higher today. May copper is now +0.9% at $3.05/lb
Crude oil futures have been in the red all day, but rallied higher after floor trading began, climbing from $100.22/barrel to as high as $101.32/barrel
May crude oil is now -0.2% at $100.94/barrel
Silver and gold futures have been weak this morning, but silver has erased almost off of its losses
June gold is now -0.3% at $1299.380/oz, May silver is -0.1% at $19.93/oz
Dollar index is -0.2% at 80.24

10:00 am: [BRIEFING.COM] The Dow and S&P 500 continue trading near their opening levels while the Nasdaq (-0.2%) has put a significant dent in its opening decline.

It is worth mentioning that many momentum names that registered sizable losses on Friday have climbed out of the red today. Facebook (FB 57.66, +0.91), FireEye (FEYE 52.10, +1.76), LinkedIn (LNKD 167.40, +1.57), Splunk (SPLK 63.48 +0.80), and Tesla (TSLA 214.72, +2.50) all hold gains between 0.9% and 3.6%.

Elsewhere, the biotech industry group has climbed off its opening lows. The iShares Nasdaq Biotechnology ETF (IBB 226.08, +0.78) is higher by 0.3% while the broader health care sector (-0.2%) remains in the red.

9:40 am: [BRIEFING.COM] The major averages began the day in the red with the Nasdaq Composite (-0.6%) showing the largest loss, while the Dow Jones Industrial Average (-0.3%) opened ahead of its peers. The S&P 500, meanwhile, trades lower by 0.4% with nine sectors showing losses.

Notably, consumer discretionary (-0.7%) and health care (-0.6%) began the trading day behind the remaining sectors while the other two top-weighted groups-financials (-0.4%) and technology (-0.4%) started in-line with the broader market.

On the upside, the consumer staples sector trades higher by 0.3%, while two other countercyclical groups-telecom services (-0.1%) and utilities (-0.1%)-are little changed.

Treasuries have climbed to their best levels of the day, pushing the benchmark 10-yr yield down two basis points to 2.70%.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -22.00. Equity indices are looking at a lower start to the session with the S&P 500 futures trading 0.2% below fair value. However, the modest loss in S&P 500 futures overshadows the relative weakness of Nasdaq futures, which trade 0.6% below fair value with momentum names expected to display early losses.

Meanwhile, global equity markets have gotten off to a cautious start to the week with Friday's weakness on Wall Street weighing on the sentiment. In addition, reports from Ukraine have also factored into the defensive posture as pro-Russian protesters have seized government buildings in three cities in Eastern Ukraine, calling for an independence referendum no later than May 11. Russian equities are under pressure today with the MICEX Index down 3.3%.

Even though geopolitical tensions appear to be on the rise again, that has not invited significant safe-haven flows. Gold futures trade lower by 0.3% at $1299.50/ozt while Treasuries are little changed with the 10-yr yield at 2.72%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -3.70. Nasdaq futures vs fair value: -21.30. The S&P 500 futures trade four points below fair value.

Asian markets ended mostly lower, piggybacking Friday's weakness on Wall Street. Australia's ANZ Job Advertisements edged up 1.4% month-over-month, while the AIG Construction Index ticked up to 46.2 from 44.2. Elsewhere, Taiwan's inflation rate climbed 1.6% year-over-year.

Japan's Nikkei lost 1.7%, falling for the first time in three days. Heavyweight Softbank was a laggard, off 4.3%.
Hong Kong's Hang Seng shed 0.6%, slipping back below its 200-day moving average. Casino stocks were pressured as a wave of profit-taking emerged. Galaxy Entertainment and Sands China fell 4.3% and 3.7%, respectively.
China's Shanghai Composite was closed for Tomb Sweeping Day.

In Europe, the major indices trade lower across the board with Germany's DAX (-1.4%) leading the retreat. Also of note, Russia's MICEX holds a loss of 3.0% amid reports indicating pro-Russian protesters have stormed government buildings in three cities in Eastern Ukraine.

Economic data was scarce. Eurozone Sentix Investor Confidence improved to 14.1 from 13.9 (consensus 14.2). Germany's Industrial Production ticked up 0.4% month-over-month (expected 0.3%, prior 0.7%). Spain's Industrial Production jumped 2.8% year-over-year (consensus 1.7%, prior 1.3%). Swiss CPI rose 0.4% month-over-month (consensus 0.2%, prior 0.1%) while the year-over-year reading was unchanged (expected -0.1%, previous -0.1%).

In France, the CAC is lower by 0.6% with financials on the defensive. AXA, BNP Paribas, and Credit Agricole hold losses between 1.4% and 1.8%. Utilities and telecom names outperform with Veolia Environnement and Vivendi both up near 1.4%.
Great Britain's FTSE holds a loss of 0.7%. Financials Hargreaves Lansdown and Lloyds Banking trade lower by 2.7% and 2.4% while utility network provider Centrica outperforms, up 1.0%.
Germany's DAX trades down 1.4%. Bayer and Henkel display respective losses of 2.1% and 2.6% while Fresenius (-0.2%) outperforms.

8:28 am: [BRIEFING.COM] S&P futures vs fair value: -5.10. Nasdaq futures vs fair value: -25.50. The stock market is on track to begin the week on a cautious note as index futures trade near their pre-market lows. The S&P 500 futures hover 0.3% below fair value, while Nasdaq futures underperform (-0.7%) following Friday's selloff.

Friday's significant weakness in tech shares appears to have carried over into other markets as Yahoo Japan lost 5.6% while Tencent Holdings (-4.5%) weighed on Hong Kong's Hang Seng.

Judging by the early look of things, Nasdaq components are looking at a rough start to the session as Amazon.com (AMZN 320.06, -2.94), Celgene (CELG 136.01, -1.37), and Facebook (FB 56.03, -0.71) display losses between 0.8% and 1.3%.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: -5.90. Nasdaq futures vs fair value: -25.30. U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures trade six points below fair value, while Nasdaq futures lag (-0.7%) after the tech-heavy index took a beating on Friday, falling 2.6%.

Reviewing overnight developments:

Asian markets ended lower. Hong Kong's Hang Seng -0.6%, Japan's Nikkei -1.7%, and China's Shanghai Composite was closed for Tomb Sweeping Day.
Economic data was limited:
Japan's Leading Index slipped to 108.5 from 113.1 (expected 114.2).
Australia's AIG Construction Index ticked up to 46.2 from 44.2, while ANZ Job Advertisements increased 1.4% month-over-month (4.7% last).
In news:
World Bank lowered its 2014 China GDP forecast to 7.6% from 7.7% while maintaining its 2015 forecast at 7.5%.

Major European indices trade lower across the board. Great Britain's FTSE -0.8%, France's CAC -0.8%, and Germany's DAX -1.4%. Elsewhere, Italy's MIB -0.6% and Spain's IBEX -0.8%.
Economic data was scarce:
Eurozone Sentix Investor Confidence improved to 14.1 from 13.9 (consensus 14.2).
Germany's Industrial Production ticked up 0.4% month-over-month (expected 0.3%, prior 0.7%).
Spain's Industrial Production jumped 2.8% year-over-year (consensus 1.7%, prior 1.3%).
Swiss CPI rose 0.4% month-over-month (consensus 0.2%, prior 0.1%) while the year-over-year reading was unchanged (expected -0.1%, previous -0.1%).
Among news of note:
Tensions in Ukraine flared up once again as pro-Russian protesters stormed government buildings in Donetsk and two other cities in Eastern Ukraine. Russian equities, meanwhile, trade broadly lower with the MICEX index down more than 3.0%.

In U.S. corporate news:

American Eagle (AEO 12.40, -0.28): -2.2% after being downgraded to 'Underperform' from 'Market Perform' at Cowen.
Mallinckrodt (MNK 68.25, +5.73): +9.2% after announcing an agreement to acquire Questcor Pharmaceuticals (QCOR 90.40, +22.53) for $86.10 per share, representing a 26.9% premium to Friday's closing price.
Momentum names are seeing early pressure with Amazon.com (AMZN 319.50, -3.50), Facebook (FB 55.99, -0.76), and Google (GOOG 538.00, -5.14) all down close to 1.0% apiece.

The February Consumer Credit report will be released at 15:00 ET.

6:36 am: [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -22.00.

6:36 am: [BRIEFING.COM] Nikkei...14808.85...-254.90...-1.70%. Hang Seng...22377.15...-132.90...-0.60%.

6:36 am: [BRIEFING.COM] FTSE...6664.13...-31.40...-0.50%. DAX...9591.66...-104.10...-1.10%.

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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