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 Post subject: May 12th Monday Trade Results - Profit $2090.00
PostPosted: Tue May 13, 2014 12:38 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $2,090.00 dollars or +20.90 points, Emini ES ($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 @ $2,090.00 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=130&t=1790

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=238&t=2329

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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.

Happy Monday! Dow, S&P Close At Record Highs

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

NEW YORK (CNNMoney)
With the weather finally warming up, investors were feeling some spring in their step.

The Dow Jones industrial average and S&P 500 closed at record highs Monday. The Dow jumped over 112 points to close at 16,695.47, and the S&P 500 ended the day about a percent higher at 1,896.65. Even the Nasdaq, which has been volatile amidst a pullback in tech stocks, got a nice bounce of roughly 1.8%.

Investors poured money into the perceived safety of blue chip companies and seem to believe the economy is improving, albeit slowly. There's still concern about tech stocks though as investors fret about sky-high valuations and, in the case of some tech companies, unproven business models.

CNNMoney's Fear and Greed Index has been languishing in fear mode for the last month, mainly dragged down by tech stocks, but the index finally moved into neutral mode on Monday.

Video - Record highs? Investors are still scared

There was also a bit of that merger Monday feeling in the air, after Hillshire Brands (HSH, Fortune 500) announced plans to acquire rival Pinnacle Foods (PF) for $6.6 billion. Shares of Pinnacle surged 13% on the news, while shares of Hillshire dropped 3%.

But stocktwits trader CrosbyVenture thinks Hillshire made out nicely.

"On $PF, it looks like $HSH is getting a sweet deal, " he said.

Investors are also on the lookout for another mega health care deal, of which there have been aplenty so far this year.

Pfizer (PFE, Fortune 500)shares rose slightly after the company published a letter to a parliamentary committee in the United Kingdom arguing its case for its proposed $106 billion acquisition of AstraZeneca (AZN).

The chief executives of both companies will be grilled by British lawmakers Tuesday and Wednesday, reflecting high levels of public anxiety over the impact a takeover could have on jobs and scientific research in the U.K.

Gogo (GOGO) soared 6% after the company beat earnings estimates. The inflight internet provider reported a narrower loss compared to a year earlier and said that its revenue climbed 35%.

One StockTwits trader was bullish about the stock based on firsthand experience.

"$GOGO I've used GOGO a number of times in flight and thought their service was great/ easy to use / seamless," said TheDragonfly.

But another StockTwits user isn't convinced that Gogo can continue to fly until it actually starts making money.

"$GOGO Dead money until it proves it has a clue on how to turn a profit," said ricster3.

Shares of J.C.Penney (JCP, Fortune 500) popped 4% after Goldman Sachs analysts maintained their "neutral" rating on the stock, but said they expect to see continuing progress from the struggling retailer's turnaround efforts.

With Monday's gains, J.C. Penney shares are now flat for 2014. They've made an impressive 60% run in the last three months, but are still down nearly 50% over the last year.

Investors will have more insight into the company's progress, or lack thereof, on Thursday when it reports earnings.

StockTwits trader operaghost88 isn't buying into the J.C.Penney hype.

"$JCP This is a bump right before earnings. Very typical. Then it will go to where it should be," he said.

Ralph Lauren (RL, Fortune 500) suffered after the iconic clothing company's stock was hit with an analyst downgrade. The stock has been sliding and is down more than 17% this year as it struggles to keep up with the competition.

Twitter (TWTR) crawled back Monday with an almost 6% bump after an analyst at SunTrust upgraded the stock. Shares plunged last week after insiders were allowed to sell Twitter following the expiration of a lockup period tied to the company's initial public offering in November.

A number of tech stocks had a great day with Netflix (NFLX), Facebook (FB, Fortune 500) and Amazon (AMZN, Fortune 500) some of the biggest gainers among companies in the S&P 500.

Investors also kept a close eye on geopolitical developments, but they seemed to shrug off Sunday's vote in a region of eastern Ukraine that showed an overwhelming majority in favor of independence. Ukraine and several Western countries have condemned the referendum, organized by pro-Russian separatists.

European Union foreign ministers met to discuss the situation in Ukraine today. They modestly expanded sanctions on Russia by placing travel bans and freezing assets of additional Russian power players who are close to Vladimir Putin.

Related: Boko Haram threatens Nigeria's economic future

European markets closed higher. Most major Asian markets ended firmer. The Shanghai Composite index surged by just over 2%.

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4:10 pm: [BRIEFING.COM] The stock market kicked off the new trading week on an upbeat note with small caps leading the advance after showing relative weakness last week. The Russell 2000 surged 2.3%, while the S&P 500 gained 1.0%. Even though the benchmark index posted a slimmer gain than the Russell 2000, it still managed to register a fresh closing record high at 1,896.65. Similarly, the Dow Jones Industrial Average (+0.7%) also settled at a new record high.

Small caps faced some heavy selling last week, while indices with a significant concentration of large cap listings were able to withstand the pressure. Today, however, the areas that struggled last week displayed relative strength, while the Dow and S&P 500 posted more modest gains.

Eight of ten sectors finished in the green with a clear bias towards cyclical groups as consumer discretionary (+1.3%), financials (+1.0%), industrials (+1.5%), materials (+1.3%), and technology (+1.5%) all posted gains of 1.0% or more, while the energy sector (+0.6%) was the only laggard among cyclical sectors.

The largest S&P 500 sector-technology-finished in the lead thanks to a boost from high-growth names like Facebook (FB 59.83, +2.59), LinkedIn (LNKD 152.28, +3.59), and Yelp (YELP 56.60, +2.38); however, it is worth pointing out that other areas of the sector also had a strong showing. Top sector members Apple (AAPL 592.83, +7.29) and Microsoft (MSFT 39.97, +0.43) both gained near 1.1%, while the broad strength among chipmakers sent the PHLX Semiconductor Index higher by 1.8%.

Elsewhere, the discretionary sector also received a measure of support from momentum names, but retailers and homebuilders were not far behind. The SPDR S&P Retail ETF (XRT 84.88, +1.62) and iShares Dow Jones US Home Construction ETF (ITB 23.70, +0.49) posted gains close to 2.0% apiece.

With nearly all cyclical sectors finishing ahead of the broader market, the only soft spots were found on the countercyclical side. The health care sector (+1.0%) ended ahead of the broader market, while consumer staples (+0.1%), telecom services (-0.2%), and utilities (-1.0%) lagged.

Treasuries retreated throughout the session, ending just above their lows. The benchmark 10-yr yield rose two basis points to 2.65%.

Participation was well below average as less than 630 million shares changed hands at the NYSE.

Also of note, Ukraine's regions of Donetsk and Lugansk have declared independence after Sunday referendums showed overwhelming support for breaking away from Ukraine. Following yesterday's vote, the council of Donetsk has petitioned for accession to the Russian Federation.

Economic data was limited to the Treasury budget, which posted a surplus of $106.90 billion in April 2014, down from a surplus of $112.90 billion in April 2013. The Treasury data are not seasonally adjusted and the April surplus cannot be compared with the results from March. The Briefing.com consensus expected a budget surplus of $114.00 billion. The Congressional Budget Office released their monthly budget preview last week and predicted a surplus of $114.00 billion. The market is well aware of the CBO's forecast and generally does not react to the actual budget release.

Tomorrow, the Retail Sales report for April (Briefing.com consensus +0.3%) and April Import/Export Prices will be released at 8:30 ET, while the Business Inventories report for March (Briefing.com consensus +0.4%) will cross the wires at 10:00 ET.
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Dow and S&P 500 Close at All-Time Highs as Tech Shares Rebound TheStreet.com
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Stocks Stage Late Comeback; Apple Bucks Weakness Investor's Business Daily

S&P 500 +2.6% YTD
Dow Jones Industrial Average +0.7% YTD
Nasdaq Composite -0.8% YTD
Russell 2000 -2.5% YTD

3:30 pm: [BRIEFING.COM] Precious metals and crude oil traded higher today, gaining support from renewed tension in Ukraine. The EU has placed sanctions on two Crimean companies and 13 Russian individuals following independence referendums held over the weekend in Ukraine's Donetsk and Lugansk regions. Neither Kiev, nor the international community has recognized the votes as legitimate.

June gold advanced to a session high of $1304.50 per ounce in early morning action but retreated back below the $1300 per ounce level as the session progressed. It eventually settled with a 0.6% gain at $1295.90 per ounce.

July silver traded as high a $19.67 per ounce in early morning action. It then consolidated near the $19.60 per ounce level and settled with a 2.3% gain at $19.55 per ounce.

Crude oil rose for the first time in three sessions, advancing as high as $100.97 per barrel in morning action. It eventually settled with a 0.6% gain at $100.60 per barrel.

June natural gas, on the other hand, fell deeper into negative territory after pulling back from its session high of $4.50 per MMBtu set moments after pit trade opened. Unable to find buying support, it settled at its session low of $4.43 per MMBtu, or 2.2% lower.

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.9% with one hour remaining in the session. Barring an aggressive selloff during the final hour of action, the benchmark average will establish a fresh closing high. Similarly, the Dow Jones Industrial Average (+0.7%) is also on track to register a new record close.

Today's economic data was limited to the recently-released Treasury Budget report for April, but tomorrow will be a bit busier with regards to data. The Retail Sales report for April (Briefing.com consensus +0.3%) and April Import/Export Prices will be released at 8:30 ET, while the Business Inventories report for March (Briefing.com consensus +0.4%) will cross the wires at 10:00 ET.

2:30 pm: [BRIEFING.COM] Recent action saw the major averages add to their earlier gains. The S&P 500 trades higher by 0.9%, while the Dow Jones Industrial Average (+0.7%) continues underperforming.

The price-weighted Dow had a solid showing last week, but has been unable to keep up with the S&P 500 today even as 23 of it 30 components display gains. Of the 23 advancers, 12 are up at least 1.0% or more. Goldman Sachs (GS 159.62, +2.42) trades higher by 1.6% and is the leading component, while Procter & Gamble (PG 81.76, -0.64) is the weakest index member. The health care component trades lower by 0.8%.

2:00 pm: [BRIEFING.COM] The S&P 500 (+0.8%) remains near its session high as the quiet afternoon continues. Technology (+1.3%) and industrials (+1.3%) are the two top performing sectors, while the utilities space (-0.9%) has not moved away from the bottom of the leaderboard.

Just released, the Treasury Budget for April showed a surplus of $106.90 billion, which followed the prior surplus of $112.90 billion. The Briefing.com consensus expected the surplus to hit $114.00 billion.

1:25 pm: [BRIEFING.COM] The major indices continue to hold the vast majority of today's gains, which have been fueled by a resurgence of buying interest in many of last week's most downtrodden names. That reversal of fortune has percolated thoughts that a short-term bottom at least has been established and that the next market leg will be higher.

That optimism has been fed in turn by the Dow Jones Industrial Average extending its reach into record territory, the S&P 500 being on the verge of setting a new, all-time closing high today (1890.90 is the number to beat), the Dow Jones Transportation Average sitting at the doorstep of yet another new record high, and the Russell 2000 rallying back above its 200-day moving average.

The Russell 2000, which is the domicile for small-cap stocks, is up 2.0% today and up 3.5% from its low on Friday. Despite the strong gains, the Russell 2000 is still down 3.0% year-to-date, making it the worst-performing of the major averages.

12:55 pm: [BRIEFING.COM] The major averages sit at their best levels of the session at midday, with small caps leading the rally. The Russell 2000 is higher by 2.0%, while the S&P 500 trades up 0.8% with seven sectors showing gains.

Equity indices surged out of the gate, registering the bulk of their gains during the opening hour. On that note, the S&P 500 has spent the past three hours of action within a two-point range. The benchmark index has drawn strength from its top-weighted sectors as consumer discretionary (+1.0%), financials (+0.9%), technology (+1.2%), and industrials (+1.2%) outperform, while the health care sector (+0.8%) trades in line with the broader market.

Today's relative strength among small caps has bolstered sectors like consumer discretionary and technology, both of which contain a share of high-growth names. Discretionary components Netflix (NFLX 341.92, +13.37) and Priceline.com (PCLN 1163.22, +27.31) hold respective gains of 4.1% and 2.4%, while tech sector members, Facebook (FB 59.21, +1.97), LinkedIn (LNKD 152.28, +3.59), and Yelp (YELP 55.96, +1.74), are up between 2.2% and 3.7%.

Elsewhere, biotechnology has also benefitted from the strength among high-beta issues as the iShares Nasdaq Biotechnology ETF (IBB 230.22, +3.78) trades higher by 1.7%. Despite the outperformance, the broader health care sector has been unable to pull away from the S&P 500.

However, the health care sector has held up better than the other countercyclical sectors as consumer staples (-0.1%), telecom services (-0.2%), and utilities (-0.8%) hover in the red.

Treasuries have been inching lower since this morning, sending the benchmark 10-yr yield higher by three basis points to 2.65%.

Also of note, Ukraine's regions of Donetsk and Lugansk have declared independence after weekend referendums showed overwhelming support for breaking away from Ukraine. Following yesterday's vote, the council of Donetsk has petitioned for accession to the Russian Federation.

There was no economic data reported this morning, but the Treasury Budget for April will be released at 14:00 ET.

12:25 pm: [BRIEFING.COM] Not much change since our last update as the major averages remain near their highs. Small caps lagged for the better part of last week, but the Russell 2000's outperformance on Friday and its relative strength today (+2.2%) have helped the index catch up to its peers. As a result, the small cap index now sports a May advance of 0.4%, which is comparable to a 0.6% gain in the S&P 500.

Despite the recent strength among small caps, the Russell 2000 remains lower by 2.6% so far in 2014 versus a 2.5% advance for the S&P 500.

With stocks on highs, participants have removed some of their hedges, sending the CBOE Volatility Index (VIX 12.24, -0.68) below its lowest close of the year.

12:00 pm: [BRIEFING.COM] Equity indices remain at their best levels of the session following a first-hour rally that has placed the major averages at their current levels. The S&P 500 has spent the past two hours inside a two-point range.

The benchmark index has been supported by the top-weighted sectors as consumer discretionary (+1.1%), financials (+0.9%), technology (+1.2%), and industrials (+1.1%) outperform, while the health care sector (+0.8%) trades in line with the S&P 500. Since the five sectors represent nearly 72.0% of the entire market, their afternoon performance will go a long way towards determining how today's session ends.

11:30 am: [BRIEFING.COM] The S&P 500 trades higher by 0.7% with seven sectors showing gains. Generally speaking, cyclical sectors are responsible for the bulk of today's advance as five of six growth-sensitive sectors trade in line or ahead of the broader market.

The energy sector (+0.4%) is the only laggard among cyclical sectors, while consumer discretionary (+1.2%), financials (+0.8%), industrials (+1.1%), materials (+1.1%), and technology (+1.2%) all trade ahead of the broader market.

On the downside, consumer staples (-0.1%), telecom services (-0.4%), and utilities (-0.7%) hover in the red, while the last defensive sector, health care (+0.7%), trades in line with the S&P 500.

10:55 am: [BRIEFING.COM] The opening run to fresh session highs has turned into a bit of a jog for the major averages as they have spent the past hour near their best levels of the day.

The Nasdaq (+1.4%) continues trading ahead of the Dow (+0.5%) and S&P 500 (+0.7%), but the Russell 2000 (+2.2%) represents the top performing index. Thanks to the advance, the Russell 2000 has turned its May loss into a month-to-date gain of 0.4%, which puts the index in line with the S&P 500 and the Nasdaq. The Dow, meanwhile, has shown a bit more strength as the index displays a May gain of 0.6%.

Elsewhere, Treasuries have slid to fresh lows as stocks extended their gains. The 10-yr yield is higher by two basis points at 2.65%.

10:30 am: [BRIEFING.COM] Precious metals and crude oil are seeing gains, gaining support on renewed tension in Ukraine and a slightly weaker dollar index. On Sunday, Ukraine's regions of Donetsk and Lugansk held independence referendums, but neither Kiev, nor the international community has recognized the votes as legitimate. In response, the EU has placed sanctions on two Crimean companies and 13 Russian individuals.

June gold rose above the $1300 level and touched a session high of $1304.50 in early morning action. It is now up 1.0% at $1300.10.

July silver brushed a session high of $19.67 after it lifted from its session low of $19.46 set at floor trade open. Currently, it is trading 2.6% higher at $19.62.

June crude oil rose as high as $100.90 in recent action and is now up 0.7% at $100.71.

June natural gas, however, traded in negative territory all morning, dipping to a session low of $4.45. It has been inching upwards in recent action and is now at $4.47, or 1.3% lower.

9:55 am: [BRIEFING.COM] The major averages have continued their rally and the S&P 500 has extended its gain to 0.7%. Nine sectors have built on their opening gains, while the utilities space (-0.1%) has slipped into the red.

Last week, small caps were pressured by aggressive selling, while the blue chip Dow Jones Industrial Average was able to register a slim gain of 0.4%. Today, however, small caps outperform (Russell 2000 +1.4%), while the Dow (+0.6%) holds a more modest gain as 26 of its 30 components display gains.

9:40 am: [BRIEFING.COM] Equity indices have climbed out of the gate with the Nasdaq Composite (+0.7%) providing leadership after the tech-heavy index displayed relative weakness last week. The S&P 500 trades higher by 0.5% with all ten sectors showing gains.

Consumer discretionary (+0.7%) and materials (+0.8%) are the two early leaders, while industrials (+0.6%) follow not far behind.

Treasuries remain near their lows with the 10-yr yield up one basis point at 2.64%.

9:13 am: [BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +19.20. The stock market is on track to start the first session of the week on an upbeat note as index futures trade near their pre-market highs. The S&P 500 futures hover seven points north of fair value, with a good portion of the gain occurring within the past three hours.

Over the weekend, Ukraine's regions of Donetsk and Lugansk held independence referendums, but neither Kiev, nor the international community has recognized the votes as legitimate. The Treasury market has not shown much concern in reaction to the developments as the 10-yr note trades modestly lower with its yield up one basis point at 2.64%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +16.00. The S&P 500 futures trade six points above fair value.

Markets across Asia ended the Monday session on a mixed note. Indices in China outperformed in reaction to weekend reports suggesting Beijing may look to ease limits on foreign investment in public companies. The reports seemed to take center stage as traders shrugged off comments from Chinese President Xi Jinping suggesting Beijing needs to adjust to a 'new normal' or slower growth.

In economic data:
Chinese new loans grew by CNY775 billion (expected CNY840 billion).
Japan's fiscal current account surplus (JPY789.9 billion) was the smallest in nearly 30 years, while the seasonally adjusted current account deficit widened to JPY780 billion from JPY40 billion (deficit of JPY540 billion expected).
Australia's NAB Business Confidence ticked up to 6 from 4.

------

Japan's Nikkei shed 0.4%, holding near eight-month lows. Olympus (+4.8%) outperformed following its upbeat quarterly report.
Hong Kong's Hang Seng gained 1.8%, closing on its 50-day moving average. Internet gaming company Tencent Holdings was the top performer, up 5.3%.
China's Shanghai Composite rallied 2.1%, ending at its best level in three weeks. Commodity-related names saw the biggest boost from Beijing's reported action as Yanzhou Coal Mining and Jiangxi Copper gained 10% and 6.87%, respectively.

Major European indices trade higher across the board with Germany's DAX (+0.9%) in the lead. On Sunday, Ukraine's regions of Donetsk and Lugansk voted in favor of independence in referendums that have not been recognized by the European Union or the U.S. In response, the EU has placed sanctions on two Crimean companies and 13 Russian individuals. Economic data was limited to Swiss Retail Sales, which rose 3.0% year-over-year (expected 2.3%, previous 1.2%).

In France, the CAC is higher by 0.1%. Industrial names Alston and Schneider Electric outperform with respective gains of 2.9% and 1.8%. On the downside, REIT Unibail-Rodamco lags with a loss of 4.1%.
Great Britain's FTSE trades up 0.3% amid strength in miners. Antofagasta, BHP Billiton, Fresnillo, and Rio Tinto hold gains between 2.4% and 4.0%.
Germany's DAX sports an advance of 0.9% as producers of basic materials outperform. K+S, ThyssenKrupp, and Lanxess are up between 1.2% and 1.9%. Commerzbank is the weakest performer, down 2.3%.

8:27 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +15.00. U.S. equity futures remain near their pre-market highs following a generally upbeat overnight session. On Sunday, Ukraine's regions of Donetsk and Lugansk voted in favor of independence, but the votes have not been recognized by the international community. Furthermore, the European Union has announced another set of sanctions targeting two Crimean companies as well as 13 individuals connected to the Kremlin.

The global markets have taken the developments in stride, with few signs of risk aversion. European indices trade higher across the board and Treasuries are on their lows with the 10-yr yield up one basis point at 2.64%. Gold futures, however, trade higher by 0.8% at $1297.80/ozt.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +15.70. U.S. equity futures hover near their pre-market highs amid upbeat action overseas. The S&P 500 futures trade six points above fair value.

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei -0.4%, Hong Kong's Hang Seng +1.8%, and China's Shanghai Composite +2.1%.
In economic data:
China's New Loans came in at CNY775 billion (expected CNY840 billion, prior CNY1.05 trillion), while M2 Money Stock expanded 13.2% year-over-year (consensus 12.2%, previous 12.1%).
Japan's Current Account deficit widened to JPY780 billion (expected JPY540 billion, last JPY40 billion). Separately, Bank Lending rose 2.1% year-over-year (prior 2.1%) and the Economy Watchers Current Index fell to 41.6 from 57.9 (expected 45.2).
Australia's NAB Business Confidence improved to 6 from 4, while NAB Business Survey slipped to 0 from 1.
In news:
Markets in China outperformed amid reports indicating the state may relax limitations on foreign direct investment in public companies.

Major European indices trade higher across the board. France's CAC +0.1%, Great Britain's FTSE +0.4%, and Germany's DAX +1.0%. Elsewhere, Spain's IBEX +0.7% and Italy's MIB +1.0%.
Economic data was limited:
Swiss Retail Sales rose 3.0% year-over-year (expected 2.3%, previous 1.2%).
Among news of note:
On Sunday, Ukraine's regions of Donetsk and Lugansk voted in favor of independence in referendums that have not been recognized by the European Union or the U.S. In response, the EU has placed sanctions on two Crimean companies and 13 Russian individuals.

In U.S. corporate news:

Actavis (ACT 201.97, +5.79): +3.0% following an RBC Capital Markets upgrade to 'Top Pick.'
Hillshire Brands (HSH 39.20, +2.25): +6.1% after agreeing to acquire Pinnacle Foods (PF 37.70, +7.25) for an implied purchase price of $36.02 per share, representing an 18.0% premium to Friday's closing price.
Peabody Energy (BTU 19.26, +0.60): +3.2% after Morgan Stanley upgraded the stock to 'Overweight' from 'Equal-Weight.'

The Treasury Budget for April will be released at 14:00 ET

6:47 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +12.00.

6:47 am: [BRIEFING.COM] Nikkei...141492.52...-50.10...-0.40%. Hang Seng...22261.61...+398.60...+1.80%.

6:47 am: [BRIEFING.COM] FTSE...6873.70...+23.30...+0.30%. DAX...9672.68...+90.00...+0.90%.

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

http://www.thestrategylab.com
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