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 Post subject: April 8th Tuesday Trade Results - Profit $1145.00
PostPosted: Wed Apr 09, 2014 5:28 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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 @ ($7,430.00) dollars or -74.30 points, Emini ES ($ES_F) futures @ $8,575.00 dollars or +171.50 points, Light Crude Oil CL ($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 @ $1,145.00 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=1764

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.

Modest Move Up For Stocks As Tech Rebounds

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

NEW YORK (CNNMoney)
After a brutal sell-off over the past few days, stocks bounced back a bit Tuesday.

The Nasdaq, the biggest loser in the three-day retreat that began Thursday, was the best performer among the three main indexes. It gained nearly 1%.The S&P 500 and the Dow Jones industrial average also ended higher.

The S&P 500 moved back into positive territory for the year. But the Dow and Nasdaq are still down over 1.5% each.

Investors have been worried about stock valuations ahead of what is expected to be lackluster quarter for corporate earnings. The technology sector has been hit particularly hard, but investors were dipping a toe back into the sector.

Related: Investors aren't bringing sexy back

Shares of Facebook (FB, Fortune 500), Netflix (NFLX) and Amazon (AMZN, Fortune 500) all rebounded. Yelp (YELP), the restaurant and business review site, also gained ground despite struggling this year.

"The bleeding in momentum names slowed at least for one day," said Ryan Detrick, senior strategist at Schaeffer's Investment Research. While the broader market held key support levels, Detrick said additional weakness in the hottest sectors "doesn't seem like a stretch."

But the S&P 500 was held back a bit by weakness in the healthcare sector. Shares of Gilead Sciences (GILD, Fortune 500), Biogen Idec (BIIB, Fortune 500) and AbbVie (ABBV) all fell.

After the market closed, Alcoa (AA, Fortune 500) reported quarterly earnings that topped analysts' expectations. Shares of the aluminum company rose in extended trading.

Banks ready for their close up. Bank stocks were under pressure as investors await results from JPMorgan (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500) later this week. But one StockTwits trader was surprised to see the group trading lower.

"$C $BAC $GS $JPM Are 1st Q earnings going to be that bad to justify this beatdown? Something else is brewing?" read a post by joekidd.

Goldman Sachs (GS, Fortune 500), which reports results next week, was the hardest hit. A report in the Wall Street Journal suggested that Goldman's results could disappoint as the bank's trading revenue has declined.

"$GS still getting taken to the woodshed," said MaximusAnalysis.

The energy sector was a bright spot. First Solar (FSLR) was the top performing S&P 500 stock. Shares of coal mining company Peabody Energy (BTU, Fortune 500) were strong as well. Joy Global (JOY, Fortune 500), which sells heavy equipment to the coal mining industry, was another top performer.

Dirty energy rallies. Coal companies in general were strong, including Walter Energy (WLT), Alpha Natural Resources (ANR, Fortune 500) and Arch Coal (ACI). An ETF that tracks a basket of coal stocks, the Market Vectors Coal Index ETF, gained about 2%.

The rally left some traders scratching their heads.

"Why Coal? I don't know, but it's popping up 2.5% on day, brk out? $KOL," said Lach14 in a tweet.

Despite all the excitement about natural gas and other alternative energy sources, coal is still a big source of power in the United States, notes one trader.

"$KOL coal is still 30% of US power generation. Also we export coal to countries where coal is still 50% or more of power generation," wrote BDF_NYC.

While that may be true now, the longer term outlook for coal is bleak, according to another trader.

"$KOL Coal is still dying, fundamentals no longer support the economics of the industry," said LSValue.

Shares of Dr Pepper Snapple Group (DPS, Fortune 500)were down sharply after analysts at Wells Fargo downgraded the stock.

European markets fell as tensions flared again in Ukraine. Russia's Foreign Ministry warned Kiev on Tuesday that use of force in the eastern region could lead to civil war.

Asian markets were mixed Tuesday. Tokyo's Nikkei fell 1.4% as the central bank ended a policy meeting without any hint of further economic stimulus.

China's benchmark Shanghai Composite index rose 1.9%. Chinese markets, which were closed Monday for a holiday, have been supported by hopes the government will take steps to boost faltering growth.

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4:15 pm: [BRIEFING.COM] The major averages halted their three-day losing streak with a modest bounce that sent the Nasdaq Composite higher by 0.8%. The S&P 500, meanwhile, added 0.4% with seven sectors posting gains.

Equity indices exhibited some volatility during the opening hour before setting off on a climb to new session highs. The Nasdaq, which was the weakest index in recent days, stayed ahead of its peers throughout the day as momentum names recovered some of their recent losses.

The Nasdaq was supported by solid gains among the likes of Amazon.com (AMZN 327.07, +9.31), Google (GOOG 554.90, +16.75), LinkedIn (LNKD 169.10, +9.45), and Netflix (NFLX 348.89, +10.89). Amazon.com and Netflix also gave a boost to the consumer discretionary sector (+1.0%), while Google and LinkedIn contributed to the outperformance of the technology space (+0.9%).

Even though two of the largest sectors posted solid gains, other top-weighted groups like health care (-0.8%), financials (+0.1%), and industrials (unch) could not keep pace with the broader market. Notably, the health care sector finished at the bottom of the leaderboard amid weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 225.83, -0.99) lost 0.4%.

The underperformance of the aforementioned sectors was overshadowed by solid gains in most of the remaining areas. Energy (+0.9%) and materials (+0.4%) finished among the outperformers thanks to gains in the underlying commodities as crude oil surged 2.2% to $102.60, while copper (+0.4% to $3.05/lb) and gold (+0.5% to $1304.30/ozt) also posted gains.

Interestingly, today's session was not free of some warning flags. For one, the top-performing sector of the day was the utilities space (+1.5%), which has a defensive orientation. The countercyclical group extended its year-to-date gain to 10.3%, while the second-best performer of the year, health care, narrowed its gain to 2.8%.

Elsewhere, Treasuries began climbing during the late morning and continued their advance through a solid 3-year note auction. The benchmark 10-yr yield fell three basis points to 2.68%.

Also of note, the Japanese yen rallied throughout the day, which is a dynamic that has often signaled caution among participants. Yen futures gained 1.4%, while the dollar/yen pair traded near the 101.75 level at the end of the New York session after hovering north of 103.00 overnight.

Trading volume was just above average as 733 million shares changed hands at the NYSE.

Today's economic data was limited to the Job Openings and Labor Turnover Survey for February, which indicated job openings rose to 4.173 million from 3.874 million.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET, while the Wholesale Inventories report for February (Briefing.com consensus 0.5%) will cross the wires at 10:00 ET. Also of note, the Federal Reserve will release the minutes from its latest policy meeting at 14:00 ET.

S&P 500 +0.2% YTD
Russell 2000 -1.5% YTD
Nasdaq Composite -1.5% YTD
Dow Jones Industrial Average -1.9% YTD

3:35 pm: [BRIEFING.COM]

Commodities ended the day mostly higher, while the dollar index continued to display weakness and closed near its session low.

Despite the weakness and in the dollar index,silver futures continued to slide lower off its high for the day
May silver ended the day $0.16 higher at $20.07/oz. June gold rose $6.10/oz to $1304.30/oz
May crude oil posted nice gains today and put in another new high for the day at $102.71/barrel about 12 minutes after pit trade closed.
At the end of the pit session, May crude was up $2.14 at $102.59/barrel. May natural gas gained $0.06 to $4.53/MMBtu

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.3% with one hour remaining in today's session.

For the past 90 minutes, the major averages have been drifting away slowly from their highs. At this juncture, consumer discretionary (+0.9%) and technology (+0.7%) sectors continue holding solid gains, while health care (-0.7%) trades near its afternoon lows amid weakness in biotechnology.

Also of note, momentum names, which have been in focus recently, enter the final hour of action on an upbeat note. LinkedIn (LNKD 169.30, +9.65), Workday (WDAY 81.03, +2.89), and Tesla (TSLA 213.36, +5.84) are up between 2.8% and 6.3%.

2:30 pm: [BRIEFING.COM] The major averages have retreated from their recent levels, with the Dow dipping back into the red. The S&P 500, meanwhile, has trimmed its gain to 0.3%.

In our last update, we mentioned the daylong yen strength that has not had much impact on the major averages. Fittingly, since that update, the yen has climbed to a new session high, pressuring the dollar/yen pair into the 101.60 area. Yen futures, meanwhile, trade higher by 1.5% as they extend their year-to-date gain to 3.6%.

Similarly, the Treasury market has built on its earlier advance, pressuring the benchmark 10-yr yield to a new session low of 2.68%.

2:00 pm: [BRIEFING.COM] Afternoon action continues with the major averages hovering near their best levels of the day. Even though equity indices are showing gains, other markets are not necessarily screaming 'Risk On!"

Specifically, the Japanese yen has continued yesterday's advance, which has pressured the dollar/yen pair below the 102.00 level, where it currently trades. Interestingly, the currency pair appears to have disconnected from equity indices after being closely correlated in recent months.

Elsewhere, Treasuries are near their best levels of the session (10-yr yield -2 bps at 2.69%), which is also more consistent with a cautious posture.

Finally, today's leading sector-utilities (+1.6%)-is an area that traditionally benefits from a defensive sentiment. Including today's gain, the utilities sector has extended its year-to-date advance to 10.4%, which puts it well ahead of the second-best group of the year-healthcare (+3.1%).

1:25 pm: [BRIEFING.COM] The major indices are fighting to maintain a posture today in positive territory. So far, they have managed to fend off early selling efforts, bolstered in part by the turnaround bid in the technology sector (+0.9%).

Today's trade, however, has a bit of a scripted feel to it, raising some questions as to whether it is simply a dead-cat bounce (i.e. not built to last). Many of the momentum stocks that got clobbered in recent sessions have seen some buy-the-dip interest. Meanwhile, the small-cap stocks are making a rebound attempt that has left the Russell 2000 (+0.7%) trailing only the Nasdaq (+0.9%) on the performance charts today.

Strikingly, despite the recovery effort in the stock market, the Treasury market hasn't buckled to selling pressure. The 10-yr note (+4/32, 2.69%) is actually pushing its best levels of the cash session following a solid 3-year note auction. The latter drew a high yield of 0.895% on a healthy 3.36x bid-to-cover ratio that exceeded the prior 12-auction average of 3.28x.

1:00 pm: [BRIEFING.COM] At midday, the major averages hover near their best levels of the day with the Nasdaq Composite (+0.8%) in the lead, while the S&P 500 trades higher by 0.3% with eight sectors showing gains.

Outside of a brief dip into the red during the opening hour, the stock market has spent the first half of action in a steady climb with recent underperformers leading the rebound charge. Appropriately, the Nasdaq trades ahead of other indices after losing 4.6% over the past three trading days versus a 2.4% decline for the S&P 500.

Biotechnology and other momentum names have presented a significant headwind to the broader market over the past few days, but some of these names are trimming their recent losses today.

Specifically, momentum names are providing support to the heavily-weighted discretionary (+0.7%) and technology (+0.7%) sectors. Consumer discretionary shares are drawing strength from Amazon.com (AMZN 326.77, +9.01), Netflix (NFLX 349.05, +11.05), and Priceline.com (PCLN 1187.57, +17.84), all of which hold gains between 1.5% and 3.3%, while the likes of Facebook (FB 58.57, +1.62), Google (GOOG 552.14, +13.99), and LinkedIn (LNKD 167.16, +7.51) are contributing to the outperformance of the tech sector.

Although two influential groups are showing solid gains, the next three sectors-financials (-0.2%), industrials (+0.1%), and health care (-0.4%)-trail the broader market.

Most notably, the health care sector lags as biotech names remain volatile. The iShares Nasdaq Biotechnology ETF (IBB 26.49, -0.33) holds a modest loss, while SPDR S&P Biotech ETF (XBI 134.26, +1.04) is higher by 0.8%

Treasuries were little changed during the overnight session, but have climbed to highs over the past hour. The 10-yr yield is lower by one basis point at 2.69%.

Today's economic data was limited to the Job Openings and Labor Turnover Survey for February, which indicated job openings rose to 4.173 million from 3.874 million.

12:35 pm: [BRIEFING.COM] Recent action saw the key indices make a run at session highs that were established about an hour ago.

Consumer discretionary (+0.8%) and technology (+0.8%), both of which have outperformed since the start, remain among the leaders, while energy (+0.9%) and utilities (+0.9%) are tied for the top spot on today's leaderboard.

The energy sector shows noteworthy strength as crude oil trades higher by 1.4% at $101.80/bbl. In addition, Dow component ExxonMobil (XOM 97.58, +0.80) is also contributing to the sector's outperformance.

Elsewhere, the other commodity-related sector, materials (+0.5%), also trades ahead of the broader market. Miners have contributed to the outperformance as the Market Vectors Gold Miners ETF (GDX 24.70, +0.44) trades higher by 1.8%, while gold futures hold a gain of 0.8% at $1308.80/ozt.

12:00 pm: [BRIEFING.COM] The major averages have retreated from their best levels of the day, with the Nasdaq Composite trimming its gain to 0.6%. Meanwhile, the Dow, which has spent the first half of action relatively close to its flat line, is now up just 0.2%.

The price-weighted index continues holding a slim gain as 19 of its 30 components trade in the green. Caterpillar (CAT 102.92, +1.81), Nike (NKE 72.68, +1.85), and Intel (INTC 26.86, +0.38) display gains between 1.4% and 2.7%, while the four financial names trade broadly lower. American Express (AXP 86.56, -0.04), Goldman Sachs (GS 157.07, -1.49), JPMorgan Chase (JPM 58.84, -0.16), and Travelers (TRV 84.84, -0.16) are down between 0.1% and 1.0% while the broader financial sector (+0.1%) continues trailing the S&P 500 (+0.3%).

11:35 am: [BRIEFING.COM] Since our last update, the S&P 500 (+0.4%) has made a dash to a fresh session high, while the Nasdaq Composite has extended its gain to 0.9%. The recent push took place with help from almost all sectors, but most notably, consumer discretionary (+0.8%) and technology (+0.8%) have padded their gains.

Both technology and discretionary shares are receiving support from nearly all components, but the strength of momentum is noteworthy. Discretionary components Amazon.com (AMZN 327.71, +9.95), Netflix (NFLX 346.24, +8.24), and Priceline.com (PCLN 1192.15, +22.42) sport gains between 1.8% and 3.1%. Elsewhere, Facebook (FB 58.26, +1.31), Google (GOOG 553.18, +15.03), and LinkedIn (LNKD 166.93, +7.28) are up between 2.1% and 4.5%.

Even though two of the four top-weighted sectors outperform, the other two large groups-financials (+0.1%) and health care (-0.3%)-continue trailing the broader market.

10:55 am: [BRIEFING.COM] The major averages trade in mixed fashion with the Nasdaq (+0.5%) showing a modest gain, while the Dow (unch) and S&P 500 (+0.1%) hover near their flat lines.

Similar to the key indices, individual sectors are mixed with four groups trading lower, while six display gains. Energy (+0.6%), technology (+0.7%), and consumer discretionary (+0.3%) are in the lead, while financials (-0.2%), health care (-0.9%), and industrials (-0.2%) lag.

Even though cyclical sectors appear on both sides of the leaderboard, the presence of mixed signals has not fueled a search for volatility protection. The CBOE Volatility Index (VIX 15.32, -0.25) is lower by 1.6%.

10:30 am: [BRIEFING.COM]

Commodities are mostly higher this morning following weakness in the dollar index.
The index has been sliding lower since the overnight session and just hit a fresh session low. It's now -0.6% at 79.27
Gold and silver futures rallied in overnight trade and have since held those gains.
June gold is now +0.9% at $1309.50/oz, May silver is +0.7% at $20.05/oz
May copper has been trading just under the unchanged mark all morning and is now -0.2% at $3.04/lb
Crude oil futures have been in positive territory all day so far and rose as high as $101.49/barrel. May crude is currently +1.5% at $100.96/barrel
Natural gas rallied this morning and just hit a new session high of $4.55/MMBtu (from $4.46/MMBtu) and is now +1.2% at $4.53/MMBtu
Best performer = Coffee futures +4.1% at $2.01/lb
Worst performer = ethanol futures -6.1% at $2.21/gallon

10:00 am: [BRIEFING.COM] The Dow and S&P 500 have returned into the red while the Nasdaq (+0.2%) continues holding a slim gain.

The two sectors that powered the opening advance-consumer discretionary (+0.2%) and technology (+0.2%)-have retreated from their highs, while financials (-0.3%) and industrials (-0.1%) are now trading in the red. Also of note, the health care sector (-0.5%) has widened its loss amid continued weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 224.75, -2.07) is lower by 0.9%.

Just released, the Job Openings and Labor Turnover Survey for February indicated job openings rose to 4.173 million from 3.874 million.

9:45 am: [BRIEFING.COM] The Dow and S&P 500 began the day in the red before joining the Nasdaq Composite (+0.6%) in the green amid gains in momentum names as well as large cap technology components. Amazon.com (AMZN 323.73, +5.97), Google (GOOG 550.65, +12.50), and Facebook (FB 58.12, +1.17) are all up near 2.0%. Accordingly, technology (+0.4%) and the discretionary sector (+0.4%) have displayed early strength.

Outside of the two groups, energy (+0.5%) and materials (+0.7%) trade ahead of the S&P 500 (+0.2%), while financials (+0.1%), health care (-0.1%), utilities (-0.4%) lag.

Treasuries remain flat with the 10-yr yield just below 2.71%.

The Job Openings and Labor Turnover Survey will be released at 10:00 ET.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: -0.10. Nasdaq futures vs fair value: +13.70. The stock market is on track to begin today's session on a cautious note as futures on the S&P 500 trade in line with fair value. Meanwhile, the Nasdaq futures signal a higher open for the index that has faced the most aggressive selling pressure over the past three sessions.

Overnight, markets in Asia finished mostly higher, but that was not enough to provide meaningful support for major European indices as they trade lower across the board. It is worth mentioning that markets rallied last week on hopes of more stimulus from one of the major central banks, but overnight developments have cooled some of those expectations. Specifically, the Bank of Japan's policy statement indicated policymakers do not see a need for additional monetary stimulus at this time, while reports from China indicated the People's Bank of China has no plans for large-scale easing in the immediate term.

Treasuries displayed slim losses earlier, but are now back to their flat lines with the 10-yr yield at 2.71%.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +0.90. Nasdaq futures vs fair value: +16.20. The S&P 500 futures trade right above fair value.

Asian markets ended mostly higher with the exception of the Japan's Nikkei (-1.4%), which underperformed. The Bank of Japan kept its policy unchanged, as expected. In addition, the policy statement indicated officials do not see a need for additional monetary stimulus at this time.

Japan's current account registered a surprise JPY612.70 billion surplus on an unadjusted basis, while the seasonally adjusted deficit narrowed to JPY40 billion from JPY590 billion, as expected. Elsewhere, Australia's NAB Business Confidence slipped to 4 from 7.

Japan's Nikkei lost 1.4%, closing on its 200-day moving average. Takeda Pharmaceutical tumbled 5.2% after a U.S. jury awarded $6 billion worth of damages after it was ruled the company hid the risks of its Actos diabetes drug.
Hong Kong's Hang Seng rose 1.0%, gaining for the first time in four days. Tencent Holdings outperformed, up 1.6%, after seeing five days of losses.
China's Shanghai Composite rallied 1.9% to a one and a half-month high. Financials paced the advance with Industrial Bank surging 8.0% and China Minsheng Banking Corp climbing 4.8%.

Major European indices trade lower across the board with Spain's IBEX (-1.6%) leading the retreat. Participants received several economic data points. Great Britain's Industrial Production rose 0.9% month-over-month (consensus 0.3%, prior 0.1%), while the year-over-year reading increased 2.7% (expected 2.2%, previous 2.8%). Separately, Manufacturing Production rose 1.0% month-over-month (consensus 0.3%, prior 0.3%), while the year-over-year reading jumped 3.8% (expected 3.1%, previous 3.2%). French trade deficit narrowed to EUR3.40 billion from EUR5.60 billion (expected deficit of EUR5.0 billion), while the government budget deficit widened to EUR25.70 billion from EUR12.70 billion (forecast EUR22.00 billion). Elsewhere, Swiss Unemployment Rate fell to 3.3% from 3.5%, as expected. Separately, Retail Sales rose 1.0% year-over-year (consensus 0.9%, prior -0.1%).

Among news of note, according to Chancellor George Osborne, the Bank of England plans to provide support to exporters by lowering the cost of export finance loans.

Germany's DAX is lower by 0.7% with growth-sensitive names on the defensive. Commerzbank and Infineon Technologies are among the weakest performers, down 2.7% and 2.3%, respectively. On the upside, steelmaker ThyssenKrupp outperforms with a gain of 0.9%.
In France, the CAC holds a loss of 0.8%. Financials AXA, Credit Agricole, and Societe Generale are down between 2.4% and 2.9%. Danone is among the top-performers, up 1.2%.
Great Britain's FTSE trades down 0.9%. Sports Direct International leads the retreat with a loss of 11.2% after its founder sold shares in the company. Miners outperform with Antofagasta, Fresnillo, and Rio Tinto up between 1.0% and 1.3%.
In Spain, the IBEX holds a loss of 1.6% amid broad weakness. Sacyr, Fomento de Construcciones y Contratas, and Bankinter are down between 3.4% and 4.0%. Steelmaker ArcelorMittal is the only advancer, trading higher by 0.5%.

8:24 am: [BRIEFING.COM] S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: +12.20. The S&P 500 futures continue trading modestly lower while futures on the Nasdaq hold a modest gain after the tech-heavy index took a beating in recent sessions. Over the past three trading days, the Nasdaq has surrendered 4.6% versus a 2.4% decline for the S&P 500.

Biotechnology and other momentum names contributed to the underperformance of the Nasdaq in recent days, and those areas of the market are likely to remain in focus today. Currently, the iShares Nasdaq Biotechnology ETF (IBB 226.80, -0.02) is indicated to open little changed. Separately, shares of Facebook (FB 57.51, +0.56) and Netflix (NFLX 339.75, +1.75) are setting up to begin the session on an upbeat note.

Treasuries sport modest losses with the benchmark 10-yr yield up one basis point at 2.72%.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: +4.00. U.S. equity futures hover near their pre-market lows amid cautious action overseas. The S&P 500 futures trade almost four points below fair value.

Reviewing overnight developments:

Asian markets ended on a mixed note. Japan's Nikkei -1.4%, Hong Kong's Hang Seng +1.0%, and China's Shanghai Composite +1.9%.
Economic data was limited:
The Bank of Japan made no changes to its policy stance, keeping its key interest rate between 0-0.10%. Separately, the current account deficit narrowed to JPY40 billion from JPY590 billion, as expected. Also of note, Economy Watchers Current Index jumped to 57.9 from 53.0 (expected 54.1).
Australia's NAB Business Survey ticked up to 1 from 0 while NAB Business Confidence slipped to 4 from 7.
New Zealand's NZIER Business Confidence slipped to 52 from 53.
In news:
Expectations for near-term stimulus from a major central bank were cooled overnight as the Bank of Japan's policy statement indicated policymakers do not see a need for additional monetary stimulus at this time, while reports from China indicated the People's Bank of China has no plans for large-scale easing in the immediate term.

Major European indices trade lower across the board. Germany's DAX -0.7%, France's CAC -0.7%, and Great Britain's FTSE -0.9%. Elsewhere, Italy's MIB -1.3% and Spain's IBEX -1.5%.
In economic data:
Great Britain's Industrial Production rose 0.9% month-over-month (consensus 0.3%, prior 0.1%), while the year-over-year reading increased 2.7% (expected 2.2%, previous 2.8%). Separately, Manufacturing Production rose 1.0% month-over-month (consensus 0.3%, prior 0.3%), while the year-over-year reading jumped 3.8% (expected 3.1%, previous 3.2%).
French trade deficit narrowed to EUR3.40 billion from EUR5.60 billion (expected deficit of EUR5.0 billion), while the government budget deficit widened to EUR25.70 billion from EUR12.70 billion (forecast EUR22.00 billion).
Swiss Unemployment Rate fell to 3.3% from 3.5%, as expected. Separately, Retail Sales rose 1.0% year-over-year (consensus 0.9%, prior -0.1%).
Among news of note:
According to Chancellor George Osborne, the Bank of England plans to provide support to exporters by lowering the cost of export finance loans.

In U.S. corporate news:

Cisco Systems (CSCO 22.57, -0.28): -1.2% after Wunderlich downgraded the stock to 'Hold' from 'Buy.'
Whole Foods (WFM 50.99, +0.70): +1.4% after UBS added the stock to its 'Key Call List' and raised the price target to $70 from $62.

The Job Openings and Labor Turnover Survey will be released at 10:00 ET.

6:05 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +12.50.

6:05 am: [BRIEFING.COM] Nikkei...14606.88...-202.00...-1.40%. Hang Seng...22596.97...+219.90...+1.00%.

6:05 am: [BRIEFING.COM] FTSE...6584.27...-38.60...-0.60%. DAX...9480.05...-30.80...-0.30%.

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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