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 Post subject: April 25th Friday Trade Results - Profit $3190.00
PostPosted: Fri Apr 25, 2014 7:08 pm 
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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)
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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 @ $3,190.00 dollars or +31.90 points, Emini ES ($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 @ $3,190.00 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 timestamp ##TheStrategyLab chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=129&t=1777

Quote:
If any of my real-time posted trades are via key concepts discussed in the WRB Analysis free study guide or the Fading Volatility Breakout (FVB) free trade signal strategy...I will discuss the reasons (trade strategy) behind those trades if/when a user of ##TheStrategyLab chat room ask questions about the trades. In contrast, real-time posted trades that are via the Advance WRB Analysis Tutorial Chapters 4 - 12 or the Volatility Trading Report (VTR) trade signal strategies...I discuss the reasons (trade strategy) behind those trades with fee-base clients in a different private chat room that's designated only for fee-base clients or discuss the strategies with fee-base clients on my Skype contact list.

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. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

Stocks End Week In Red As Tech Gets Hammered

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

NEW YORK (CNNMoney)
Investors just couldn't keep that loving feeling going at the end of the week, and techs bore the brunt of the cooling off.

The Nasdaq dropped 1.75%, while the Dow fell 140 points and the S&P 500 also ended lower. The sell-off came as investors questioned whether key companies like Amazon (AMZN, Fortune 500) are growing at the pace Wall Street likes to see. There were also renewed concerns about turmoil in Ukraine.

The major indexes gave up gains from earlier in the week and ended the week with losses. It was the eighth straight week that the S&P 500 alternated between weekly gains and losses, according to Ryan Detrick, a strategist at Schaeffer's Investment Research. Call it the "Spring Swivel".

The latest reading on CNNMoney's Fear & Greed index shows sentiment is still languishing in "fear" mode.

Amazon (AMZN, Fortune 500) reported better-than-expected earnings and revenue Thursday, but shares plunged almost 10% as worries about rising costs at the tech giant surfaced. The stock was the biggest loser on CNNMoney's Tech 30 Index, which was down 4% Friday.

"$AMZN It's simple, when you run out of ways to increase your margin and make a profit, you distract people. drones, movies, phones, promises," said Caviar on StockTwits.

But another StockTwits trader wasn't fretting the Amazon drama.

"$AMZN awesome, hope to get this at a bargain price maybe in a couple weeks," said zv2013.

Related: S&P cuts Russia's credit rating

Microsoft (MSFT, Fortune 500) was one of the few tech stocks that edged out a win Friday after the company reported first-quarter sales that exceeded analysts' expectations. It also announced the completion of its deal with Nokia, complete with a slightly awkward photo of CEO Satya Nadella and executive Stephen Elop walking and talking in a mountainous setting while Elop holds a Nokia phone.
nadella elop

"$MSFT New CEO, new management, new devices+services strategy....Now we'll see some real momentum! #MSFTjustgotsexy," said StockTwits trader lcc007.

Ford (F, Fortune 500)shares fell over 3% after the automaker reported its first quarterly earnings decline since 2012. Profits also were below analysts' estimates.

But Stocktwits trader Circpunk thought Ford deserved some credit.

"$F It takes time to rebalance and refocus. They're doing an outstanding job running this company. This is old school competence," he said.

Shares of Dow component Visa (V, Fortune 500) tumbled 5% after the credit card giant missed revenue forecasts.

Starbucks (SBUX, Fortune 500) rose after reporting a gain in sales and earnings. There also have been rumors that it is considering buying a stake in SodaStream. Shares of SodaStream (SODA) have rallied sharply this week on that speculation.

Burger King (BKW) got a boost after its earnings report barely topped estimates, but that was a better story than McDonald's (MCD, Fortune 500) had when it reported its quarterly results earlier in the week.

Shares of athletic apparel maker Under Armour (UA) sank for a second straight day even though the company reported strong earnings Thursday and is on the verge of being added to the S&P 500 index.

In geopolitical news, senior government officials told CNN that the U.S. could impose new sanctions on Russia for failing to take steps to reduce the tension in eastern Ukraine. Sanctions would target key allies of Russian President Vladimir Putin, high-profile oligarchs and possibly companies.

Even without additional sanctions, Russia is struggling economically. Standard & Poor's downgraded Russia's credit rating to one step above junk status, and the country was forced to raise its interest rate from 7 to 7.5% since its currency is dropping sharply. This was the second increase in two months.

Related: 3 risks from the Ukraine crisis

European indexes finished mostly lower, with Germany's DAX falling 1.5%. Germany is Russia's largest trading partner in Europe. New sanctions would hurt both economies.

Most major Asian markets finished the day down as well.

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4:15 pm: [BRIEFING.COM] The major averages spent the last session of the week in a steady retreat despite receiving a round of better than expected earnings from the technology sector. The Nasdaq lost 1.8%, widening its April decline to 2.9%, while the S&P 500 fell 0.8%, swinging to a month-to-date loss to 0.5%. The benchmark index notched a session low not far above its 50-day moving average (1858) and closed just north of its 20-day moving average (1862).

Market participants received an avalanche of earnings since yesterday's closing bell, with a large portion coming from companies that belong to the technology sector (-1.4%). Even though 32 of 40 tech companies met or beat expectations, the broader sector was the second-weakest performer, finishing only ahead of the consumer discretionary sector (-1.7%).

In large part, the discretionary space was pressured by the shares of Amazon.com (AMZN 303.83, -33.32), which fell 9.9% after the online retail giant missed earnings estimates by one cent and issued cautious guidance. Amazon.com factored into the underperformance of the Nasdaq, while noteworthy losses in high-beta names like Netflix (NFLX 322.08, -21.99) and Priceline.com (PCLN 1157.24, -59.79) also weighed on the index and the discretionary sector.

Staying on the momentum theme, high-beta tech components like Facebook (FB 57.71, -3.16), FireEye (FEYE 41.18, -3.27), LinkedIn (LNKD 158.17, -13.42), and Yelp (YELP 57.63, -5.07) endured a forgettable session, falling between 5.2% and 8.1%.

Today's weakness in high-growth names resembled the aggressive selling that took place at the start of the month, which is likely to invite concerns that the sell-off seen a few weeks ago has not run its full corrective course.

The recent sell-off featured significant weakness in the biotech space and that was the case once again today. The iShares Nasdaq Biotechnology ETF (IBB 223.96, -5.66) lost 2.5%, ending right above its 200-day moving average (221.37), which has acted like a magnet for the past couple weeks. Interestingly, the health care sector (-0.7%) held up relatively well, ending just ahead of the broader market.

While the losses in biotech and other high-beta areas fueled the early selling, dip-buyers were reluctant to step in amid continued worries about the situation in Ukraine. Earlier, Ukrainian officials demanded a statement from Russia, explaining the purpose of its troops massed at the border of the two countries. Additionally, President Obama spoke with his counterparts from France, Germany, Italy, and the UK, agreeing to introduce another round of sanctions against Russia for failure to observe the Geneva accord that was signed last Thursday.

The geopolitical concerns did fuel some safe-haven flows as Treasuries and gold futures posted gains. The 10-yr note added four ticks, pressuring its yield to 2.67%, while gold futures added 0.5% to $1290.80/ozt.

With stocks ending near their lows, the CBOE Volatility Index (VIX 14.12, +0.80) climbed 6.0%, suggesting participants hedged their bets.

Participation was a bit below average as less than 700 million shares changed hands at the NYSE.

Today's economic data was limited to the final reading for the April University of Michigan Consumer Sentiment Index, which was revised up to 84.1 from a preliminary reading of 82.6. The Briefing.com consensus expected the Consumer Sentiment Index to remain at 82.6. Consumer sentiment increased to its highest level since July 2013 when the index reached 85.1. Layoff trends and equity prices both improved over the second half of the month, which contributed to the overall improvement in sentiment. The Current Conditions Index was revised up to 98.7 in the final reading from 97.1 in the preliminary report. That is up from 95.7 in March. The Expectations Index was also revised up, to 74.7 from 73.3.

On Monday, the Pending Home Sales report for March will be released at 10:00 ET.
Related Stories

InPlay from Briefing.com Briefing.com
Nasdaq, S&P 500 On Track For Sixth Straight Gain Investor's Business Daily
U.S. Stocks Advance, Led by Tech Firms The Wall Street Journal
Stock Futures Guardedly Lower; Starbucks, Baidu, Deckers Gain Investor's Business Daily
Stocks: Heading for the exits CNNMoney.com

S&P 500 +0.8% YTD
Dow Jones Industrial Average -1.3% YTD
Nasdaq Composite -2.4% YTD
Russell 2000 -3.3% YTD

Week in Review: Nasdaq Remains Volatile

The trading action in the stock market on Monday left a lot to be desired, yet that didn't stop the market from finishing the day higher. Led by the health care (+1.2%), energy (+0.7%), and technology (+0.4%) sectors, the S&P 500 jumped 0.4% and closed the session with its fifth consecutive gain -- a first in 2014. The U.S. market reopened after the three-day Easter weekend, but for all intents and purposes, it continued to operate in holiday mode. Trading conditions were thin, no doubt kept that way by the lack of activity out of Europe where markets remained closed for the Easter holiday. NYSE volume totaled just 591 mln shares, which was well below a recent average of 725 mln shares.

Equity indices strung together a daylong rally on Tuesday, giving the S&P 500 its sixth consecutive advance. Some selling during the final hour of action pressured the indices from their highs, but they still ended with the bulk of their gains. The benchmark index added 0.4% with eight sectors finishing in the green, while the Nasdaq (+1.0%) outperformed throughout the session. Although the stock market began the day on a flat note, the major averages quickly took the lead from two heavily-weighted sectors-consumer discretionary (+0.8%) and health care (+1.0%)-that displayed strength out of the gate. The health care sector spent the entire session in the lead due, in part, to the relative strength of biotechnology. M&A activity also contributed to the sector's outperformance as Allergan surged 15.3% after Valeant proposed a merger for $48.30 in cash and 0.83 shares of Valeant for each share of Allergan.

The stock market finished the Wednesday session on a modestly lower note, but it is worth mentioning the retreat took place after six consecutive gains. The Dow Jones Industrial Average (-0.1%) and S&P 500 (-0.2%) settled not far below their flat lines, while the Nasdaq Composite (-0.8%) lagged throughout the session. Equity indices started the day in the red, with the Nasdaq showing early weakness as large cap tech names and biotechnology weighed. The technology sector (-0.9%) slumped amid profit-taking in listings like Apple , Google, Microsoft, and Intel, while biotech names retreated following quarterly reports from three major industry players.

On Thursday, the major averages posted modest gains, but not before enduring a morning dip into the red, which took place in reaction to reports indicating Russia has commenced military exercises on the Ukrainian border. The news from Europe knocked the key indices from their early highs, while giving a boost to safe-haven assets like gold futures (+0.5% to $1290.80/ozt), Treasuries (10-yr yield -1 bps to 2.69%), and the Japanese yen (102.30 vs USD); however, the morning spike in safety flows was retraced partially, while equities rallied off their lows with the technology sector (+1.1%) setting the pace. Tech shares (and the Nasdaq) received significant support from the shares of Apple, which surged 8.2% after the top-weighted tech company handily beat earnings expectations. In addition, Apple increased its share buyback to $90 billion and announced a 7:1 stock split, which will go into effect on June 2.

3:30 pm: [BRIEFING.COM]

June gold rose above $1300 per ounce today as it gained support from a weaker dollar index and news of continued tension in Ukraine.
President Obama spoke with his counterparts from France, Germany, Italy, and the UK, agreeing to introduce another round of sanctions against Russia for failure to observe the Geneva accord singled last week.
The yellow metal advanced to a session high of $1305.20 per ounce in morning action and settled with a 0.8% gain at $1300.60 per ounce. Today's advance brought gains for the week to 0.5%.
May silver rose to a session high of $19.81 per ounce shortly after floor trade opened but retreated into the red in late morning action. It eventually settled unchanged at $19.69 per ounce, booking a 0.5% gain for the week.
June crude oil fell alongside equity markets today.
The energy component pulled back from its session high of $101.39 per barrel set in early morning action and eventually settled 1.3% lower at $100.58 per barrel. The decline brought losses for the week to 2.7%.
May natural gas also traded in the red, dipping to a session low of $4.63 per MMBtu. Unable to gain momentum, it settled 1.5% lower at $4.64 per MMBtu, declining 2.1% over the week.

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

Market participants received a heavy dose of earnings since yesterday's closing bell, but even though the results have been mostly better than expected, they have not invited heavy buying interest.

Monday morning will feature another full slate of quarterly earnings, with National Oilwell Varco (NOV 83.21, +0.33), Corning (GLW 20.79, -0.40), Charter Communications (CHTR 129.40, -1.09), and Sohu.com (SOHU 58.00, -1.46) headlining the list.

2:25 pm: [BRIEFING.COM] Equity indices have slipped to fresh session lows as dip-buyers remain reluctant to step in. Consumer discretionary (-1.7%) and technology (-1.4%) continue bringing up the rear, while other cyclical sectors are holding up just a bit better. Industrials (-1.1%) and materials (-1.0%) trail the S&P 500, while energy (-0.7%) and financials (-0.8%) outperform slightly.

If the major averages settle near their current levels, the S&P 500 will record a weekly loss of 0.2% and widen its April decline to 0.6%. The Nasdaq, meanwhile, is on pace to shed 0.6% this week and extend its month-to-date decline to 3.0%.

2:00 pm: [BRIEFING.COM] The major averages continue trading near their lows after being unable to stage a sustained rebound. The S&P 500 was able to regain about seven points off its session low, but it has since surrendered five of those points.

Despite the noteworthy weakness, today's selling activity has not invited unusually heavy participation as less than 350 million shares have changed hands at the NYSE floor so far. Meanwhile, market breadth remains tilted to the downside, with more than two declining issues per each advancer. Things don't look much better on the Nasdaq exchange as there are more than five issues trading in the red for each name on the rise.

1:30 pm: [BRIEFING.COM] The stock market is struggling to hold any upside traction. At this juncture, the major indices are probing their worst levels of the day, pinned down by broad-based selling interest. The defensive-oriented utilities sector (+0.8%) is the only S&P 500 sector that is trading higher.

The geopolitical headlines surrounding Ukraine are getting a lot of blame for the weakness, but it is interesting that the worst-performing average today is the Russell 2000 (-1.8%). We say that because it is comprised of small-cap stocks with a mostly domestic orientation that would not see their business directly impacted by the events surrounding Ukraine.

That weakness and the continued weakness in the biotech space, which has virtually no connection to the goings-on in Ukraine, is something participants will continue to watch closely as it could be viewed as sign that the broad market sell-off seen a few weeks ago has not yet fully run its course.

With the disappointing price action today, there looks to be some hedging going on, evidenced by the 8.5% jump in the CBOE Volatility Index (VIX 14.45, +1.13).

1:00 pm: [BRIEFING.COM] At midday, the major averages hover in the red, with small caps showing noteworthy weakness. The Nasdaq (-1.5%) and Russell 2000 (-1.7%) lag, while the S&P 500 holds a loss of 0.7% with nine sectors trading in the red.

Equity indices have spent the first half of action in the red, failing to capitalize on a spate of better than expected quarterly earnings from the technology sector. In fact, weakness among momentum names is keeping the tech space (-1.2%) at the bottom of the leaderboard, only ahead of the consumer discretionary sector (-1.4%).

Today's decline among discretionary shares has widened the sector's year-to-date loss to 4.9%, which puts the group well behind the remaining nine sectors. Amazon.com (AMZN 307.39, -29.76) has played a big part in today's relative weakness as it trades lower by 8.7% after issuing cautious guidance and reporting bottom-line results one cent below the Capital IQ consensus estimate. Other high-growth sector components have not fared much better as Priceline.com (PCLN 1169.30, -47.73) and Netflix (NFLX 326.08, -17.99) hold respective losses of 3.9% and 5.2%.

Momentum names have also exerted pressure on the technology sector, where the likes of Facebook (FB 58.03, -2.84), Google (GOOG 518.03, -7.13), and LinkedIn (LNKD 161.60, -9.99) are down between 1.4% and 6.0%.

Also of note, biotechnology has been in focus since late February, and the industry group is among today's laggards. The iShares Nasdaq Biotechnology ETF (IBB 226.27, -3.35) is lower by 1.4% as it hovers not far above its 200-day moving average (221.39). Interestingly, the broader health care sector (-0.4%) is one of today's top-performing groups.

Similar to health care, other countercyclical groups trade ahead of the broader market. Consumer staples (-0.1%) and telecom services (-0.2%) hold slim losses, while the utilities sector (+1.0%) has extended its year-to-date gain to 13.1%. For the record, no other sector holds a year-to-date gain of more than 4.7% (energy).

The selling interest observed today has been orderly for the most part, but recurring weakness in the aforementioned notable groups is likely to invite increasing concern that the sell-off seen a few weeks ago has not run its full corrective course.

Among news from overseas, Ukrainian officials have demanded a statement from Russia, explaining the purpose of its troops massed at the border of the two countries. Furthermore, President Obama spoke with his counterparts from France, Germany, Italy, and the UK, agreeing to introduce another round of sanctions against Russia for failure to observe the Geneva accord that was signed last Thursday.

Treasuries hover near their morning levels after retreating from their highs reached two hours ago. The benchmark 10-yr yield is lower by two basis points at 2.66%.

Today's economic data was limited to the final reading for the April University of Michigan Consumer Sentiment Index, which was revised up to 84.1 from a preliminary reading of 82.6. The Briefing.com consensus expected the Consumer Sentiment Index to remain at 82.6. Consumer sentiment increased to its highest level since July 2013 when the index reached 85.1. Layoff trends and equity prices both improved over the second half of the month, which contributed to the overall improvement in sentiment. The Current Conditions Index was revised up to 98.7 in the final reading from 97.1 in the preliminary report. That is up from 95.7 in March. The Expectations Index was also revised up, to 74.7 from 73.3.

12:30 pm: [BRIEFING.COM] Recent action had the major averages continue their slow recovery. The tech-heavy Nasdaq (-1.3%) led the early selloff, while the S&P 500 (-0.6%) has been leading the indices off their late-morning lows.

The defensively-oriented utilities sector (+0.7%) has outperformed since the opening bell, and is now the top performing group of the week with a 1.3% gain. Outside of utilities, only the health care sector (+1.3%) sports a comparable gain for the week.

Similar to utilities, the remaining defensive groups also trade ahead of the broader market. The consumer staples space (+0.1%) holds a slim gain, while health care (-0.3%) and telecom services (-0.3%) trade a bit ahead of the broader market.

12:00 pm: [BRIEFING.COM] Equity indices remain not far from their worst levels of the session, with the Nasdaq (-1.4%) and Russell 2000 (-1.5%) displaying the largest losses.

Even though the major averages entered the trading day with week-to-date gains, those gains have been wiped out since the opening bell. The Russell 2000 and Dow Jones are now on track to end the week lower by 0.6% and 0.1%, respectively, while the Nasdaq and S&P 500 hold slim gains of no more than 0.1% apiece.

On a separate note, Treasuries have strengthened over the course of this week, with the benchmark 10-yr yield on pace to end the week at 2.66% after settling at 2.72% last Thursday.

11:30 am: [BRIEFING.COM] The major averages are in the midst of a rebound attempt after spending the first 90 minutes of action in a steady retreat. To be fair, the S&P 500 (-0.7%) has only recovered about four points and still has ways to go before returning to its flat line.

In all likelihood, the S&P 500's recovery will hinge on the performance of the consumer discretionary (-1.4%) and technology (-1.1%) sectors, both of which currently sit at the bottom of the leaderboard. The two groups hold some significant sway over the broader market, considering they account for more than 31.0% of the entire S&P 500.

On a separate note, multiple reports out over the past 30 minutes have indicated that President Obama and his counterparts from Germany, France, Italy, and the UK have agreed to impose more sanctions on Russia for failure to implement the Geneva accord that was signed last Thursday.

11:00 am: [BRIEFING.COM] Steady selling pressure has knocked the major averages to fresh session lows, with the Nasdaq (-1.6%) continuing its underperformance.

The Nasdaq Composite trades well behind the other indices amid broad weakness. The technology sector (-1.4%) is among the worst performers, while biotechnology (IBB -1.6%) also weighs on the tech-heavy index. In addition, momentum names are also factoring into the underperformance of the Nasdaq as Amazon.com (AMZN 305.61, -31.54), Facebook (FB 58.10, -2.77), and LinkedIn (LNKD 163.41, -8.18) display losses between 4.5% and 9.6%.

With stocks on lows, Treasuries have climbed to their best levels of the session. The 10-yr note is higher by seven ticks with its yield down three basis points at 2.66%.

10:35 am: [BRIEFING.COM]

Commodities are mixed this morning, while the dollar index is modestly lower here at 79.91
Crude oil and natural gas futures are lower today.
Crude has been sliding lower since the early part of the overnight session where is was as high as $102.01/barrel. May crude is now -1.1% at $100.85/barrel
May natural gas sold off this morning and is now -1.3% at $4.64/MMBtu
Gold and silver futures have been trending higher today and gold futures just hit a new session high
In current trade, June gold is +1% at $1304, while May silver is +0.3% at $19.76/oz.
May copper has trended off its LoD and is now +0.1% at $3..12/lb.

10:00 am: [BRIEFING.COM] The major averages remain near their early lows as nine sectors trade in negative territory. Heavily-weighted consumer discretionary (-1.1%) and technology (-0.7%) sectors represent the two weakest groups, while the defensively-oriented utilities sector (+0.5%) outperforms.

Just released, the University of Michigan Consumer Sentiment report for April was revised up to 84.1 from 82.6 in the final reading, while the Briefing.com consensus expected the reading to hold at 82.6.

9:45 am: [BRIEFING.COM] Equity indices began the session in negative territory, with the Nasdaq (-0.6%) trailing the Dow Jones (-0.5%) and S&P 500 (-0.4%). Nine of ten sectors display losses, while utilities (+0.4%) outperform modestly.

On the downside, the consumer discretionary sector (-1.1%) is the weakest performer as Amazon.com (AMZN 312.00, -25.15) weighs. The online retailer has tumbled 7.5% after missing earnings estimates by one cent and issuing cautious guidance. Amazon.com is having an impact on other retailers as the SPDR S&P Retail ETF (XRT 82.70, -0.60) trades lower by 0.7%.

Elsewhere, the technology sector (-0.5%) lags amid weakness in the shares of Visa (V 201.61, -7.79). The largest Dow component holds a loss of 3.9% after its cautious fiscal-year 2014 revenue guidance overshadowed its earnings beat.

The final reading of the Michigan Consumer Sentiment survey for April (Briefing.com consensus 82.6) will be released at 9:55 ET.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -18.30. The stock market is on track to begin the final session of the week on a defensive note amid no signs of de-escalation in the conflict between Russia and Ukraine. That point was accentuated by Secretary of State John Kerry, who spoke last evening, saying Russia has not respected the Geneva accord on de-escalation that was signed last Thursday.

Despite the continued geopolitical worries, index futures trade not far below fair value. Quarterly earnings have also been in focus this morning, with Baidu.com (BIDU 165.60, +5.86) and Microsoft (MSFT 40.25, +0.39) expected to show strength after beating estimates, while Amazon.com (AMZN 317.60, -19.55), Ford (F 15.93, -0.39), and Visa (V 201.00, -8.40) are indicated to start lower in reaction to disappointing earnings and/or guidance.

Treasuries climbed overnight, but have retreated from their highs over the past hour. The benchmark 10-yr yield is lower by one basis point at 2.68%.

The final reading of the Michigan Consumer Sentiment survey for April (Briefing.com consensus 82.6) will be released at 9:55 ET.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -4.10. Nasdaq futures vs fair value: -14.50. The S&P 500 futures trade four points below fair value.

Asian markets finished the week on a mixed note, with Japan's Nikkei (+0.2%) outperforming after the lower-than-expected inflation report fueled speculation about additional easing from the Bank of Japan. Also of note, Japan's Finance Minister Taro Aso said it does not appear the U.S. administration has the ability to push through the Trans-Pacific Partnership agreement until mid-term elections.

Economic data was limited. Japan's National CPI rose 1.6% year-over-year (prior 1.5%), while Tokyo CPI increased 2.9% year-over-year (previous 1.3%). Separately, National Core CPI rose 1.3% year-over-year (expected 1.4%, prior 1.3%) and Tokyo Core CPI increased 2.7% year-over-year (consensus 2.8%, previous 1.0%). South Korea's Consumer Confidence held steady at 108. Singapore's Industrial Production rose 6.1% month-over-month (expected 1.5%, prior 6.5%)

Japan's Nikkei posted a slim gain of 0.2% as growth-sensitive names rallied. Fuji Electric and Kawasaki Heavy Industries both gained near 8.0%.
Hong Kong's Hang Seng lost 1.5%, ending on lows as 47 of 50 components finished in the red. China Resources Land and Sino Land lost 3.2% and 3.6%, respectively. China Resources Power was the top performer, climbing 0.8%.
China's Shanghai Composite slumped 1.0% into the close. Electrical equipment manufacturer Xi'An Shaangu Power was the weakest performer, down 13.8%.

Major European indices trade broadly lower amid the return of concerns regarding the situation in Ukraine. Since yesterday's closing bell, Ukrainian officials have demand a statement from Russia, explaining the purpose of its troops massed at the border of the two countries. Furthermore, Ukraine claimed it will treat any potential incursion as an invasion. Also of note, Standard & Poor's downgraded Russia for the first time since late 2008, lowering its rating to 'BBB-' from 'BBB.' In addition, S&P raised the rating of Cyprus to 'B' from 'B-' and affirmed France at 'AA.'

Economic data was limited to several items from Great Britain. Retail Sales ticked up 0.1% month-over-month (expected -0.4%, prior 1.3%), while the year-over-year reading increased 4.2% (consensus 3.8%, previous 3.3%). Core Retail Sales slipped 0.4% month-over-month (expected -0.5%, last 1.3%), while the year-over-year reading rose 4.2% (consensus 4.3%, last 3.9%). Also of note, BBA Mortgage Approvals came in at 45,900 (expected 48,900, prior 47,200).

Great Britain's FTSE is lower by 0.3% as financials lag. HSBC, Lloyds Banking, and Standard Chartered are all down between 1.2% and 2.0%. Publisher Pearson outperforms with a gain of 3.7% after reaffirming its guidance.
In France, the CAC trades down 0.4% with banks showing weakness as well. Credit Agricole and Societe Generale are lower by 1.3% and 2.1%, respectively. Alstom is higher by 10.9% as it sees continued strength following yesterday's buyout speculation.
Germany's DAX holds a loss of 1.0% as 24 components hover in the red. Exporters Daimler and Volkswagen are both down near 1.2%, while financials Commerzbank and Deutsche Bank are lower by roughly 2.0% apiece.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -4.10. Nasdaq futures vs fair value: -15.30. U.S. equity futures remain pressured, while European indices hover in the red as market participants respond to the latest developments in Ukraine. Last evening, Secretary of State John Kerry spoke on the matter, saying Russia has not respected the Geneva accord on de-escalation that was signed last Thursday. Meanwhile, Ukrainian officials have demand a statement from Russia, explaining the purpose of its troops massed at the border of the two countries. Furthermore, Ukraine claimed it will treat any potential incursion as an invasion.

The situation has fueled some safe-haven flows, sending the 10-yr note to its session high (10-yr yield -2 bps at 2.67%). In addition, gold futures (+0.9% at $1302.70/ozt) and the yen (101.98 vs USD) have also been in demand.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -9.50. U.S. equity futures hover near their pre-market lows amid cautious action overseas that has been brought upon by continued worries about Ukraine. Following yesterday's reports of Russian military exercises on the border, Ukraine gave Russia 48 hours to explain its activities. Furthermore, President Obama is expected to discuss another round of sanctions with European leaders. The S&P 500 futures hover four points below fair value.

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite -1.0%, Hong Kong's Hang Seng -1.5%, and Japan's Nikkei +0.2%.
In economic data:
Japan's National CPI rose 1.6% year-over-year (prior 1.5%), while Tokyo CPI increased 2.9% year-over-year (previous 1.3%). Separately National Core CPI rose 1.3% year-over-year (expected 1.4%, prior 1.3%) and Tokyo Core CPI increased 2.7% year-over-year (consensus 2.8%, previous 1.0%).
South Korea's Consumer Confidence held steady at 108.
Singapore's Industrial Production rose 6.1% month-over-month (expected 1.5%, prior 6.5%).
In news:
Japan's Finance Minister Taro Aso said it does not appear the U.S. administration has the ability to push through the Trans-Pacific Partnership agreement until mid-term elections.

Major European indices trade broadly lower. Great Britain's FTSE -0.3%, France's CAC -0.6%, and Germany's DAX -1.3%. Elsewhere, Italy's MIB -1.0% and Spain's IBEX -1.0%.
Economic data was limited:
Great Britain's Retail Sales ticked up 0.1% month-over-month (expected -0.4%, prior 1.3%), while the year-over-year reading increased 4.2% (consensus 3.8%, previous 3.3%). Core Retail Sales slipped 0.4% month-over-month (expected -0.5%, last 1.3%), while the year-over-year reading rose 4.2% (consensus 4.3%, last 3.9%). Also of note, BBA Mortgage Approvals came in at 45,900 (expected 48,900, prior 47,200).
Among news of note:
Standard & Poor's downgraded Russia for the first time since late 2008, lowering its rating to 'BBB-' from 'BBB.' In addition, S&P raised the rating of Cyprus to 'B' from 'B-' and affirmed France at 'AA.'

In U.S. corporate news:

Alaska Air (ALK 95.00, +0.25): +0.3% after beating the Capital IQ consensus estimate by seven cents.
Amazon.com (AMZN 329.00, -8.15): -2.4% following its one cent miss and below-consensus Q2 operating income guidance.
Baidu.com (BIDU 168.71, +8.97): +5.6% after beating earnings estimates on below-consensus revenue.
Broadcom (BRCM 29.65, -1.49): -4.8% despite beating earnings and revenue estimates.
Ford Motor (F 15.91, -0.41): -2.5% after reporting a six-cent miss on in-line revenue.
Honda Motor Company (HMC 33.76, +0.08): +0.2% following its bottom-line beat on below-consensus revenue.
Microsoft (MSFT 40.60, +0.74): +1.9% after beating earnings estimates by five cents.
Starbucks (SBUX 72.25, +1.16): +1.6% following its in-line earnings on below-consensus revenue.
V.F. Corp (VFC 60.69 +0.58): +1.0% after beating bottom-line estimates by four cents.
Visa (V 200.79, -8.61): -4.1% after its cautious fiscal-year 2014 revenue guidance overshadowed its earnings beat.

The final reading of the Michigan Consumer Sentiment survey for April (Briefing.com consensus 82.6) will be released at 9:55 ET.

6:42 am: [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -6.00.

6:42 am: [BRIEFING.COM] Nikkei...14429.26...+24.30...+0.20%. Hang Seng...22223.53...-339.30...-1.50%.

6:42 am: [BRIEFING.COM] FTSE...6692.77...-10.30...-0.20%. DAX...9482.22...-66.40...-0.70%.

U.S. Stocks Drop for Week as Technology Selloff Resumes

By Callie Bost and Joseph Ciolli Apr 25, 2014 5:37 PM ET

U.S. stocks declined for the week, with benchmark indexes erasing gains in the final session, as disappointing results from Amazon.com Inc. triggered a selloff in technology shares and tensions over Ukraine climbed.

Amazon dropped 6.5 percent after predicting an operating loss in the current quarter, contributing to a 0.5 percent slide in the Nasdaq Composite Index. Visa Inc. lost 4.3 percent as revenue fell short of targets. Phone stocks sank on concerns that price competition will hurt future profits. Apple Inc. jumped 9 percent for its best week since August as the company sold more iPhones than forecast. Allergan Inc. surged 26 percent after Valeant Pharmaceuticals International Inc. offered to merge with the maker of the Botox wrinkle treatment.

The Standard & Poor’s 500 Index (SPX) slipped 0.1 percent to 1,863.40 in the week, following its best rally since July. The Dow Jones Industrial Average lost 47.08 points, or 0.3 percent, to 16,361.46. The Russell 200 Index of small companies sank 1.3 percent.

“There’s uncertainty in the market right now over whether valuations are realistic in a lot of the technology companies,” Walter “Bucky” Hellwig, who helps manage $17 billion at BB&T Wealth Management in Birmingham, Alabama, said in a phone interview April 25. “The geopolitical risk, particularly in the Ukraine, is a headwind, and if the markets are weak, it’s easy to take profits in stocks that have had a big run.”

Busiest Week

The period marked the busiest week of the first-quarter reporting season, as one-third of S&P 500 members, including 11 Dow components, disclosed results. Of the 239 companies in the S&P 500 to post earnings so far, 75 percent have topped profit estimates while 53 percent have surpassed sales targets.

The benchmark for U.S. equities rose the first two sessions of the week, capping a six-day rally that added 3.5 percent to the index as earnings beat estimates and Federal Reserve Chair Janet Yellen reiterated the bank’s commitment to supporting the economy. Fed officials begin a two-day policy meeting on April 29.

While the S&P 500 advanced during the week to within six points of its record of 1,890.9 from April 2, U.S. stocks have repeatedly failed to climb from current levels. The gauge trades at 17 times reported earnings, near its highest valuation in four years. That’s about half the level for components in the Nasdaq Composite.

While the Nasdaq Composite jumped 2.4 percent in the previous week, the gauge has dropped 6.5 percent since reaching a 14-year high on March 5.

Losses in the week were heaviest in Internet and technology companies that have posted the biggest gains of the five-year bull market. Yahoo! Inc., which doubled in 2013, and TripAdvisor Inc., which jumped 98 percent, slid more than 5 percent.

Geopolitical Tension

Geopolitical tensions contributed to the final-day selloff, after U.S. Secretary of State John Kerry warned Russian President Vladimir Putin he’s running out of time to ease tension in Ukraine as Russia began new military exercises on the country’s border. Kerry said it will be “an expensive mistake” if Putin does not meet commitments made at a meeting in Geneva.

Data during the week showed U.S. orders for durable goods rose more than forecast in March, while more Americans than estimated filed applications for unemployment benefits. Sales of new homes unexpectedly declined in March to the lowest level in eight months, and existing-home sales dropped for a third month.

The Chicago Board Options Exchange Volatility Index climbed 5.2 percent to 14.06, with most of the advance coming during the final session. The measure of volatility known as the VIX fell the most since January in the prior week.

Wireless Plans

Six of the 10 main industries in the S&P 500 retreated in the latest week. Phone stocks sank 3.6 percent to lead losses, as Verizon Communications Inc. and AT&T Inc. dropped on concern that a surge of customers opting to pay for smartphones on installment plans threatens to shrink monthly bills and lower future profit.

Verizon plunged 3.5 percent to $45.94, its worst week in almost a year, and AT&T sank 4.3 percent to $34.49. The looming shift in revenue cast a shadow on both carriers’ better-than-forecast results.

Visa, the Dow’s largest component, slid 4.3 percent to $198.93. The world’s biggest bank-card network posted revenue below estimates and said sanctions against Russia could crimp profit this year.

Pouring Cash

Amazon dropped 6.5 percent to $303.83, the lowest since October. The world’s largest online retailer is pouring cash into warehouses to speed shipments, while adding new services like a grocery-delivery program and a TV set-top box for streaming movies and shows to compete with Netflix Inc. and Apple. (AAPL)

Netflix sank 6.8 percent to $322.08. The company behind the drama “House of Cards” plunged after Amazon reached a deal with Time Warner Inc.’s HBO network to stream select TV shows online -- exclusive programs that Netflix doesn’t have. Netflix rallied 7 percent on April 22 after reporting profit and subscriber growth that beat analysts’ forecasts.

Apple surged 9 percent to $571.94, the highest level since 2012. Apple reported surging sales of iPhones after the handset became available through China Mobile Ltd. The world’s most valuable company also said it will increase its share repurchase authorization by $30 billion, boost its dividend and split its stock seven for one.

Allergan jumped 26 percent to $168.15. Valeant proposed to buy it for about $48 billion in the Canadian company’s plan to become one of the world’s largest drugmakers. Valeant’s U.S.- listed shares climbed 9.6 percent to $133.73.

Mylan Inc. rallied 11 percent to $52.10. The biggest U.S. maker of generic medicines raised its offer for Swedish drugmaker Meda AB to about 43.8 billion Swedish kronor ($6.7 billion), people with knowledge of the matter said.

Zimmer Holdings Inc. surged 11 percent to $100.54. The maker of artificial joints agreed to buy rival orthopedic-device maker Biomet Inc. in a cash-and-stock deal valued at $13.4 billion.

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

To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net Jeremy Herron, 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)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

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