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 Post subject: June 13th Friday Trade Results - Profit $2530.00
PostPosted: Fri Jun 13, 2014 1:52 pm 
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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)
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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 @ $2,530.00 dollars or +25.30 points, Emini ES ($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 @ $2,530.00 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=131&t=1816

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=240&t=2365

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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: Friday The 13th Bounce

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

NEW YORK (CNNMoney)
For a summer Friday, markets were in a feisty mood. From Iraq to Priceline, there was a lot for investors to weigh, but stocks finished up.

Here are the 5 big themes to follow:

1. Don't get spooked by Friday the 13th: Wall Street isn't too superstitious when it comes to Friday the 13th. At least in June. Including today, stocks have risen on 11 of the last 13 occasions when Friday the 13th occurred during the month of June since 1928, according to S&P Dow Jones Indices.

To that end, the Dow, S&P 500, and Nasdaq all rose Friday with the Dow up 0.25%.The results weren't as stellar for the week. All three indices ended the week down with the Dow 0.88% lower.

2. Priceline names a price and others follow: Priceline (PCLN, Tech30) said it was buying restaurant reservations site OpenTable (OPEN) for $2.6 billion. Shares of OpenTable skyrocketed over almost 50%, trading over the $104 a share sale price, while Priceline fell.

"$PCLN Stopped out of my position. Will reconsider when $OPEN Deal is scrutinized and fully digested." said AskLou on StockTwits.

Other internet stocks catering to local businesses soared on the news as well, including Yelp (YELP), Groupon (GRPN), and GrubHub (GRUB).

3. Stock movers -- Citi, Intel, HP: Citigroup (C) shares slid after reports that the Justice Department is seeking a $10 billion settlement from the bank over its role in selling mortgage-backed bonds in the lead up to the financial crisis.

"$C have to wonder when the 'throw in the towel' moment is for most investors," said StockTwits trader HighNeg007. The stock is down around 9% in 2014 and earlier in the year had its plan to increase its dividend and launch a share buyback program rejected by the Federal Reserve.

Intel (INTC, Tech30) powered forward by almost 7% after the company announced a more positive outlook for the second quarter. Business PC purchases are picking up, according to Intel. PC-maker Hewlett-Packard (HPQ, Tech30) and Microsoft (MSFT, Tech30) got a nice boost as well.

Investors were also keeping an eye on DreamWorks (DWA), which releases the second installment of its widely popular "How to Train Your Dragon" saga over the weekend. The media company is hoping a good box office showing for that film will make up for the less-than-stellar performance of its "Mr. Peabody and Sherman" earlier this year.

DreamWorks shares have gotten a lift in the past month, but they slid Friday and are still down by 23% for the year.

4. Iraq back on investors' minds: Investors remained calm as President Obama spoke about the instability in Iraq Friday and said America would not send troops. Stocks barely moved on the president's remarks, but oil and gold crept up slightly. Crude oil prices are trading at nine-month highs, pushing higher to almost $107 per barrel.

Large areas of the country have been overrun by militants, raising fears that oil production and exports could be hit. Oil prices jumped over 4% this week to levels not seen since last September.

Gold prices rose slightly to over $1,277 per ounce, following their rally Thursday of over $10. Gold tends to rise in turbulent times as investors seek safe havens.

Elsewhere on the worry front a key measure of inflation, the Producer Price Index, unexpectedly fell in May, raising concerns about slower growth in the U.S.

5. Rate hike across the pond?: Investors have remained confident that central banks will keep rates low for some time, but that is now being called into question.

On Thursday, the head of the Bank of England said that U.K. interest rates could rise sooner than markets expect. That could mean a rate rise as early as the end of 2014. The pound climbed against the dollar to its highest level in years on the announcement.

Steven Englander, managing director at CitiFX, said the warning would turn the spotlight back on policymakers at the U.S. Federal Reserve.

"Investors [will] look to next week's Federal Open Market Committee [meeting] as a guide to whether the Fed sees itself beginning the road to normalizing policy or engaged in an ongoing effort to avoid normalization for as long as possible," he said.

In Asia, the Bank of Japan kept its monetary policy unchanged.

More International action: European markets finished mostly lower, while Asian markets ended with mixed results. India's market dropped this week, although it is still a top performer for the year -- up over 19%.

Brazil's Bovespa Index was on a tear all week -- up nearly 4% as of yesterday as the World Cup kicked off, but the index dipped Friday as protests continue to rock the country.

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4:10 pm: [BRIEFING.COM] The major averages posted modest Friday gains, but the advance was not strong enough to pull the key indices back into the green for the week. The S&P 500 added 0.3%, narrowing its weekly loss to 0.7%, while the Nasdaq (+0.3%) ended the week lower by 0.3%.

The tech-heavy Nasdaq outperformed in the morning thanks to early strength among chipmakers and high-beta listings. The strength in microchip manufacturers resulted from upbeat sales and gross margin guidance issued by Intel (INTC 29.87, +1.91). The largest chipmaker soared 6.8%, while the 30-stock PHLX Semiconductor Index added 1.0%.

In addition, the index was also boosted by high-growth stocks after Priceline.com (PCLN 1189.30, -36.70) agreed to acquire OpenTable (OPEN 104.48, +34.05) for $103/share, representing a 46.2% premium. The news also stirred takeover speculation around the likes of GrubHub (GRUB 36.00, +2.35) and Yelp (YELP 74.92, +9.08). The two names surged 7.0% and 13.8%, respectively.

Accordingly, the technology sector (+0.7%) finished in a position of relative strength, but the largest S&P 500 group ceded its top spot to the energy space (+1.0%) during afternoon action. Meanwhile, other heavily-weighted sectors like consumer discretionary (unch), financials (unch), and health care (unch) could not keep up.

The energy sector was underpinned by top components Chevron (CVX 127.26, +1.15) and ExxonMobil (XOM 102.65, +0.99), while crude oil added 0.3% ($106.86/bbl). The sector was the only group that ended the week on a higher note (+1.7%) with the advance supported by a 4.1% gain in crude oil amid continued tensions in Iraq.

During the early afternoon, President Obama addressed the volatile situation in Iraq where a breakaway militant group of Al-Qaeda has taken control of parts of the country. Mr. Obama said that he will review his options over the coming days, but any potential U.S. action will have to be supported by the leaders of Iraq.

The sharp rise in oil prices over this week weighed on transport stocks, but the Dow Jones Transportation Average (+0.8%) bounced today after falling nearly 3.0% between Monday's close and today's opening bell. In turn, the strength underpinned the industrial sector (+0.4%).

Like the six cyclical sectors, countercyclical groups ended on a mixed note. Consumer staples (unch) and health care (unch) underperformed, while telecom services (+0.5%) and utilities (+0.7%) posted gains.

Treasuries registered slim losses with the 10-yr yield climbing one basis point to 2.60%.

Light participation continued plaguing the market with just over 560 million shares changing hands at the NYSE.

Economic data was limited to May PPI and the latest Michigan Consumer Sentiment survey:
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The Producer Price Index for May declined 0.2%. That was lower than the Briefing.com consensus estimate, which called for an increase of 0.6%. The downturn in May was attributed to a 0.2% decline in the indexes for final demand services and final demand goods. Excluding food and energy, core PPI declined 0.1%, which was also lower than the 0.1% increase projected by the Briefing.com consensus estimate. Notably, there weren't any strong indications of pipeline pricing pressures. Within intermediate demand, prices for processed goods fell by 0.1%, the index for unprocessed goods was unchanged, and prices for services declined by 0.4%.
The preliminary reading for the University of Michigan Consumer Sentiment report for June dipped to 81.2 from the final reading of 81.9 for May. The June figure was the lowest reading since March and it fell short of the Briefing.com consensus estimate, which was pegged at 82.9. The shortfall was not a major deviation, yet it still qualifies as a disappointment when taking into account that stock markets were generally behaving well and employment conditions were improving during the survey period.

On Monday, the Empire Manufacturing survey for June (Briefing.com consensus 12.8) will be released at 8:30 ET, while April Net Long-Term TIC Flows will cross the wires at 9:00 ET. In addition, May Industrial Production (consensus 0.5%) and Capacity Utilization (consensus 78.9%) will be announced at 9:15 ET, while the NAHB Housing Market Index for June (consensus 46) will be reported at 10:00 ET.

S&P 500 +4.8% YTD
Nasdaq Composite +3.2% YTD
Dow Jones Industrial Average +1.2% YTD
Russell 2000 -0.2% YTD

Week in Review: Taking Profits

The stock market finished the Monday session on a modestly higher note, but the S&P 500 (+0.1%) could not keep pace with the Russell 2000 (+0.9%). Similar to the Russell 2000, the Nasdaq (+0.3%) displayed relative strength, while the Dow Jones Industrial Average (+0.1%) settled just ahead of the S&P 500. Equity indices climbed out of the gate with the early sentiment boosted by a set of acquisitions in three influential sectors; however, the intraday strength did not last as participants opted to take some money off the table after the Dow Jones Transportation Average surrendered its morning gain after outpacing the broader market over the past few weeks.

The market ended the Tuesday affair on a mixed note. Small caps underperformed with the Russell 2000 slipping 0.2%, while the S&P 500 shed less than a point with six sectors registering losses. The key indices entered the session after enjoying a big rally that sent the S&P 500 higher by 4.2% over the previous three weeks alone. That advance was predicated on the strength of small caps and transport stocks as the Russell 2000 and the Dow Jones Transportation Average entered the session with respective gains of 7.1% and 4.9% since May 20. Fittingly, with small --cap stocks and transports showing relative weakness, the broader market slumped out of the gate, but spent the remainder of the session in a steady climb back to unchanged. The underperformance of the Dow Jones Transportation Average (-0.1%) caused the industrial sector (-0.2%) to end the session near the bottom of the leaderboard.

On Wednesday, the market ended on a lower note with the Dow Jones Industrial Average (-0.6%) and Russell 2000 (-0.5%) leading the slide. The S&P 500 lost 0.4% with nine sectors in the red. Stocks spent the duration of the session in the red, while the Nasdaq (-0.1%) made a momentary appearance in the green. The tech-heavy index outperformed thanks to relative strength among chipmakers. However, the Nasdaq slumped back towards its low into the close as dip buyers were reluctant to step in and lift the overall market. With the major averages overextended on a short-term basis, the market was ready to take a step back at the sound of the first concerning headline and Wednesday's comments from the World Bank did the trick. Specifically, the World Bank cut its 2014 global growth outlook to 2.8% from 3.2%, while also revising projections for several major economies. For instance, the growth forecast for the U.S. was lowered to 2.1% from 2.8%, while China's GDP expectations were taken down to 7.6% from 7.7%.

Equities ended the Thursday session on a broadly lower note after spending the entire trading day in the red. The S&P 500 fell 0.7% with eight sectors posting losses, while the Nasdaq (-0.8%) underperformed. Stocks slumped out of the gate following some disappointing economic data and reports of skirmishes in northern Iraq. The disappointing economic news pertained to the retail sector as retail sales increased just 0.3% (Briefing.com consensus 0.7%), while core retail sales, which closely match the consumption component of GDP, slipped 0.1% in May. Separately, reports of intensifying battles in northern Iraq led by a breakaway militant group of Al-Qaeda raised concerns about the oil supply. The headlines out of Iraq put a bid in the oil market (+2.1% to $106.54/bbl) while also creating a residual concern that higher energy prices will be an added tax on consumers who, broadly speaking, continue to be pinched by limited wage growth. Fittingly, the worries translated into relative weakness for the consumer discretionary sector (-1.3%), which ended at the bottom of the leaderboard. The Dow Jones Transportation Average was also pressured by the developments, falling 2.0%.

3:30 pm: [BRIEFING.COM]

Aug gold chopped around near the break-even line today, trading in a tight range between $1272.20 per ounce and $1275.70 per ounce.
Unable to gain traction, it settled unchanged at $1274.10 per ounce, booking a gain of 1.7% for the week.
July silver lifted from its session low of $19.50 per ounce set moments after floor trade opened and trended higher to a session high of $19.67 per ounce.
It settled 0.6% higher at $19.65 per ounce, bringing gains for the week to 3.4%.
July crude oil brushed a session low of $106.37 per barrel in early morning action and rose to a session high of $107.22 per barrel in afternoon pit trade.
It eventually settled 0.3% higher at $106.85 per barrel, booking a gain of 4.1% for the week.
July natural gas spent most of today's floor session in the red.
It dipped to a session low of $4.72 per MMBtu and eventually settled with a 0.4% loss at $4.74 per MMBtu, cutting gains for the week to 0.6%.

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.3% with one hour remaining in the final session of the week. The technology sector (+0.6%) continues showing relative strength, but the energy space (+0.7%) has overtaken the tech space for the lead. Fittingly, today's top two performers are also the top performers of the week. The energy sector has added 1.4% this week, while the tech sector is lower by 0.2% since last Friday.

Elsewhere, Treasuries remain little changed after reclaiming their morning losses. The benchmark 10-yr yield sits at 2.60%, which represents a seven basis point increase since last Friday's settlement.

2:30 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.3% as the quiet afternoon continues. Despite today's modest uptick, the benchmark index remains on track to finish the week with a loss of 0.7%. This would put the S&P 500 ahead of the Dow, which is lower by 1.0% this week, but behind the Russell 2000 and Nasdaq Composite. Both indices are down near 0.2% for the week.

Given the slim gains among equities, participants have reduced some of their hedges, sending the CBOE Volatility Index (VIX 11.91, -0.65) lower by 5.2%.

2:00 pm: [BRIEFING.COM] Equity indices continue showing slim gains, but three of the four largest sectors-consumer discretionary (-0.1%), financials (-0.1%), and health care (unch)-are still trading in the red, which is keeping a lid on the overall market since the trio accounts for more than 42.0% of the entire S&P 500.

With today's session marking the end of the week, the three influential groups are on track to post weekly losses between 0.8% and 1.7%. The three sectors will not be alone as six of the remaining seven groups are also on pace to finish the week on a lower note.

On the upside, the energy sector (+0.4%) outperforms today, which has extended its weekly gain to 1.1%. Crude oil, meanwhile, has added 4.1% this week.

1:25 pm: [BRIEFING.COM] Intel (INTC 29.86, +1.91) has done its part to try and save the day for the equity market with its uplifting guidance, yet the market has struggled nonetheless to maintain bullish momentum. The major indices remain in positive territory but have moved off their highs on some selling activity over the past hour or so.

The lack of follow through to the upside is apt to be pinned on geopolitical concerns, but it could also have to do with a market that is simply aiming to catch its breath after a big run over the last month.

Conversely, the Treasury market is working hard to regain its bullish stride. It has been on the defensive for most of June so far. The 10-yr note was down nearly a half point earlier today, but it has battled back and is currently off just two ticks with its yield standing at 2.60%.

The Treasury market, and all capital markets, should be abuzz in the coming week as the FOMC convenes on June 17-18 to formulate its next policy announcement and update its economic and interest rate projections.


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12:55 pm: [BRIEFING.COM] At midday, the major averages hold modest gains. The S&P 500 (+0.2%) and Nasdaq (+0.2%) trade neck-in-neck, while the Dow Jones Industrial Average (+0.1%) and Russell 2000 (+0.1%) underperform.

Equities struggled to maintain their opening gains, which briefly put the key indices in the red; however, the significant strength in the technology sector (+0.6%) and a rebound among transport stocks (Dow Jones Transportation Average +0.6%) have fueled the rebound.

The largest S&P 500 sector-technology-has drawn strength from chipmakers after Intel (INTC 29.88, +1.92) boosted its sales and gross margin guidance, citing strong demand for business PCs. Shares of Intel trade higher by 6.8%, while the broader PHLX Semiconductor Index trades up 0.9%.

Furthermore, high-growth names have also factored into the strength of the tech sector after Priceline.com (PCLN 1198.24, -27.42) agreed to acquire OpenTable (OPEN 103.49, +33.06) for $103/share, representing a 46.2% premium to yesterday's closing price. The news has also stirred takeover speculation around the likes of GrubHub (GRUB 36.45, +2.80) and Yelp (YELP 74.57, +8.73).

Elsewhere, industrials (+0.3%) also trade ahead of the broader market as transports rebound from losses that were registered earlier in the week. The bellwether complex is higher by 0.6% after losing nearly 3.0% since Monday's closing bell.

While the strength of technology and industrials has kept the market in the green, equity indices have had difficulty building on their gains due to relative weakness in consumer discretionary (unch), financials (-0.1%), and health care (-0.1%). Like health care, the biotech industry group has struggled as evidenced by a 0.5% decline in the iShares Nasdaq Biotechnology ETF (IBB 246.50, -1.33).

Also of note, within the past hour, President Obama addressed the volatile situation in Iraq, where a breakaway militant group of Al-Qaeda has taken control of parts of the country. Mr. Obama said that he will review his options over the coming days, but any potential U.S. action will have to be supported by Iraqi leaders.

Crude oil, which has been on the rise as of late, inched up following the recent press conference. The energy component is higher by 0.4% at $106.96/bbl.

Treasuries are currently little changed with the 10-yr yield pegged at 2.60%.

Economic data was limited to May PPI and the latest Michigan Consumer Sentiment survey:

The Producer Price Index for May declined 0.2%. That was lower than the Briefing.com consensus estimate, which called for an increase of 0.6%. The downturn in May was attributed to a 0.2% decline in the indexes for final demand services and final demand goods. Excluding food and energy, core PPI declined 0.1%, which was also lower than the 0.1% increase projected by the Briefing.com consensus estimate. Notably, there weren't any strong indications of pipeline pricing pressures. Within intermediate demand, prices for processed goods fell by 0.1%, the index for unprocessed goods was unchanged, and prices for services declined by 0.4%.
The preliminary reading for the University of Michigan Consumer Sentiment report for June dipped to 81.2 from the final reading of 81.9 for May. The June figure was the lowest reading since March and it fell short of the Briefing.com consensus estimate, which was pegged at 82.9. The shortfall was not a major deviation, yet it still qualifies as a disappointment when taking into account that stock markets were generally behaving well and employment conditions were improving during the survey period.

12:30 pm: [BRIEFING.COM] The stock market continues holding a slim gain as top-weighted sectors trade in mixed fashion. The technology space (+0.7%) remains in the lead, but the lack of strength among consumer discretionary (+0.1%), financials (+0.1%), and health care (-0.1%) has kept the major indices below their highs.

Not too long ago, President Obama addressed the volatile situation in Iraq, where a breakaway militant group of Al-Qaeda has taken control of parts of the country. Mr. Obama said that he will review his options over the coming days, but any potential U.S. action will have to be supported by Iraqi leaders.

Crude oil, which has been on the rise as of late, inched up following the recent press conference. The energy component is higher by 0.3% at $106.86/bbl.

12:00 pm: [BRIEFING.COM] The major averages have stepped back from their recent levels with the Russell 2000 dipping back into the red. The Dow, Nasdaq, and S&P 500 remain in the green, but they have narrowed their gains to roughly 0.1% apiece.

Earlier, we highlighted the fact that influential sectors other than technology (+0.5%) have been struggling to keep up with the S&P 500. On that note, consumer discretionary (-0.1%), financials (-0.1%), and health care (-0.1%) are now trading lower across the board.

On the upside, technology (+0.5%) continues showing strength, while industrials (+0.4%) are benefitting from a rebound in transport stocks. The Dow Jones Transportation Average is higher by 0.6%, but remains down 2.2% for the week.

11:25 am: [BRIEFING.COM] The Dow Jones Industrial Average (+0.3%) has ticked up from its recent levels and now trades essentially in line with the S&P 500 (+0.3%) and Nasdaq Composite (+0.3%).

Equity indices slumped out of the gate, but the retreat resulted in just a brief appearance in the red before a bounce took the key averages to new highs.

The technology sector (+0.7%) remains in the lead, but its strength has yet to provide a boost to the remaining cyclical groups. Energy (+0.4%), industrials (+0.4%), and materials (+0.4%) trade ahead of the broader market, while consumer discretionary (unch) and financials (+0.1%) lag.

Similar to financials and discretionary shares, another influential sector-health care (unch)-also trails the broader market.

11:00 am: [BRIEFING.COM] The major averages hover near their best levels of the day with the Nasdaq (+0.4%) staying ahead of the S&P 500 (+0.3%). Meanwhile, the Dow Jones Industrial Average (+0.2%) underperforms modestly as nine of its 30 components hover in the red.

However, of the nine decliners, only Nike (NKE 73.98, -0.79) holds a loss larger than 1.0%, while the other laggards hover closer to their flat lines.

On the upside, Intel (INTC 29.80, +1.84) is a clear outperformer with its 6.6% gain, but since the stock has the fourth-lowest share price in the Dow, its impact on the index has been negligible. For its part, the priciest Dow member, Visa (V 211.23, -0.54), trades lower by 0.3%.

10:35 am: [BRIEFING.COM]

Crude oil futures rose as high as $107.58/barrel this morning, but has since been sliding off that HoD
In current trade, July crude oil is +0.2% at $106.74/barrel
Natural gas has been sliding off its own HoD of $4.79/MMBtu this morning. July NG is now -0.3% at $4.75/MMBtu
Gold and silver futures have been flat/consolidated this morning
Aug gold is now +0.02% at $1274.30/oz, while July silver is +0.3% at $19.60/oz
Copper has been in positive territory all day so far and is now +0.6% at $3.03/lb

9:55 am: [BRIEFING.COM] The S&P 500 hovers less than two points above its flat line with four sectors showing modest gains.

Just released, the preliminary reading for the University of Michigan Consumer Sentiment survey for June fell to 81.2 from the reading of 81.9 that was reported in May. The Briefing.com consensus expected the index to improve to 82.9.

9:45 am: [BRIEFING.COM] The major averages opened in the green, but slumped back to their flat lines, leaving the Nasdaq (+0.2%) in a position of relative strength.

In large part, the Nasdaq owes its outperformance to Intel's (INTC 29.82, +1.86) 6.6% gain after the largest chipmaker hiked its sales and gross margin guidance, citing strong demand for business PCs. Outside of Intel, the index has drawn strength from OpenTable's (OPEN 103.54, +33.11) 47.0% surge after the company agreed to be acquired by Priceline.com (PCLN 1216.38, -9.62) for $103/share.

Technology notwithstanding, only two other sectors-financials (+0.2%) and industrials (+0.1%)-trade in the green, while the remaining groups display losses between 0.1% and 0.4%.

The Michigan Sentiment survey for June (consensus 82.9) will be released at 9:55 ET.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +5.60. Nasdaq futures vs fair value: +20.00. The stock market is on track for a modestly higher open as futures on the S&P 500 hover five points above fair value. Nasdaq, futures, meanwhile, show relative strength in reaction to Priceline.com (PCLN 1223.77, -2.23) agreeing to acquire OpenTable (OPEN 103.80, +33.37) for $103/share, representing a 46.2% premium to yesterday's closing price.

The M&A news notwithstanding, the Nasdaq has also received a boost from Intel (INTC 30.00, +2.04) after the chipmaker raised its sales and gross margin guidance for fiscal year 2014. Shares of Intel are on pace to open higher by 7.3%.

Outside of the corporate news, participants received the latest Producer Price Index, which indicated a 0.2% decline in May. That was lower than the Briefing.com consensus estimate, which called for an increase of 0.6%. The downturn in May was attributed to a 0.2% decline in the indexes for final demand services and final demand goods. Excluding food and energy, core PPI declined 0.1%, which was also lower than the 0.1% increase projected by the Briefing.com consensus estimate.

Treasuries will begin the session on their lows with the 10-yr yield up four basis points at 2.63%.

The Michigan Sentiment survey for June (consensus 82.9) will be released at 9:55 ET.

9:00 am: [BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +15.50. The S&P 500 futures trade two points above fair value.

Asian markets finished the week on a mixed note. As expected, the Bank of Japan raised its economic assessment on foreign economies to 'recovering' from 'started to recover.' The central bank made no changes to its policy stance, which was also in line with expectations.

In economic data:
China's Industrial Production rose 8.8% year-over-year, as expected, while Fixed Asset Investment increased 17.2% year-over-year (consensus 17.1%, prior 17.3%), and Retail Sales jumped 12.5% year-over-year (expected 12.1%, previous 11.9%).
The Bank of Japan made no changes to its policy stance, as expected. Separately, Capacity Utilization fell 2.2% month-over-month (prior 0.4%) and Industrial Production declined 2.8% month-over-month (expected -2.5%, prior -2.5%).
New Zealand's FPI came in at 0.6% month-over-month (previous 0.6%), while Business NZ PMI fell to 52.7 from 54.4.
Singapore's Unemployment Rate slipped to 2.0% from 2.1% (consensus 2.1%). Separately, Retail Sales fell 0.7% month-over-month (expected -3.4%, prior -4.0%).

------

Japan's Nikkei climbed 0.8% thanks to support from growth-sensitive names. Japan Steel Works and Nisshin Steel gained 3.8% and 7.6%, respectively.
Hong Kong's Hang Seng rallied 0.6% amid strength in energy names. China Petroleum & Chemical and CNOOC both added just under 2.0%. Want Want China Holdings lagged, shedding 0.4%.
China's Shanghai Composite gained 0.9%, ending on its high. Avic Heavy Machinery jumped the limit, 10.0%.

European markets trade lower across the board with Great Britain's FTSE (-1.1%) leading the slide. Bank of England Governor Mark Carney spoke shortly after yesterday's New York session, saying the first rate hike may come sooner than the markets expected. The remarks have shifted expectations for the first hike to late 2014 from Q1 2015.

Participants received several data points:
Eurozone trade surplus expanded to EUR15.80 billion from EUR15.40 billion (EUR15.90 billion).
Great Britain's CB Leading Index rose 0.5% month-over-month (prior 0.3%).
Germany's CPI slipped 0.1% month-over-month, while the year-over-year reading rose 0.9%. Both figures matched expectations.
French Nonfarm Payrolls decreased 0.1% quarter-over-quarter, as expected.
Spain's CPI was unchanged month-over-month, as expected.
Italy's CPI slipped 0.1% month-over-month, as expected.

------

In France, the CAC is lower by 0.6% amid weakness in financials. AXA, Credit Agricole, and Societe Generale are down between 1.6% and 2.4%. Technip outperforms, up 1.3%.
Germany's DAX holds a loss of 0.6%. Deutsche Lufthansa is continuing its recent weakness, trading lower by 3.2%. Utilities outperform with E.ON and RWE up 1.4% and 1.2%, respectively.
Great Britain's FTSE trades down 1.1%. Homebuilders weigh amid expectations of a rate hike taking place sooner than previously thought. Barratt Developments and Presimmon are down 5.8% and 6.7%, respectively.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +0.10. Nasdaq futures vs fair value: +10.50. The S&P 500 futures trade in line with fair value.

May producer prices slipped 0.2% while the Briefing.com consensus expected an uptick of 0.2%. Core producer prices declined 0.1% while the consensus expected an increase of 0.1%.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: +12.20. U.S. equity futures hold slim gains despite defensive action overseas. The S&P 500 futures trade one point above fair value.

Reviewing overnight developments:

The major Asian indices ended higher. Hong Kong's Hang Seng +0.6%, Japan's Nikkei +0.8%, and China's Shanghai Composite +0.9%.
In economic data:
China's Industrial Production rose 8.8% year-over-year, as expected, while Fixed Asset Investment increased 17.2% year-over-year (consensus 17.1%, prior 17.3%), and Retail Sales jumped 12.5% year-over-year (expected 12.1%, previous 11.9%).
The Bank of Japan made no changes to its policy stance, as expected. Separately, Capacity Utilization fell 2.2% month-over-month (prior 0.4%) and Industrial Production declined 2.8% month-over-month (expected -2.5%, prior -2.5%).
New Zealand's FPI came in at 0.6% month-over-month (previous 0.6%), while Business NZ PMI fell to 52.7 from 54.4.
Singapore's Unemployment Rate slipped to 2.0% from 2.1% (consensus 2.1%). Separately, Retail Sales fell 0.7% month-over-month (expected -3.4%, prior -4.0%).
In news:
As expected, the Bank of Japan raised its economic assessment on foreign economies to 'recovering' from 'started to recover.'

European markets trade lower across the board. France's CAC -0.7%, Germany's DAX -0.8%, and Great Britain's FTSE -1.1%.
Participants received several data points:
Eurozone trade surplus expanded to EUR15.80 billion from EUR15.40 billion (EUR15.90 billion).
Great Britain's CB Leading Index rose 0.5% month-over-month (prior 0.3%).
Germany's CPI slipped 0.1% month-over-month, while the year-over-year reading rose 0.9%. Both figures matched expectations.
French Nonfarm Payrolls decreased 0.1% quarter-over-quarter, as expected.
Spain's CPI was unchanged month-over-month, as expected.
Italy's CPI slipped 0.1% month-over-month, as expected.
Among news of note:
Bank of England Governor Mark Carney spoke shortly after yesterday's New York session, saying the first rate hike may come sooner than the markets expected. The remarks have shifted expectations for the first hike to late 2014 from Q1 2015.

In U.S. economic data:

Finisar (FNSR 19.80, -5.45): -21.6% after missing earnings estimates and guiding Q1 earnings below consensus.
Intel (INTC 29.63, +1.67): +6.0% after raising its sales and gross margin guidance, citing strong demand for business PCs.
Priceline.com (PCLN 1226.00, 0.00) has agreed to acquire OpenTable (OPEN 79.67, +9.24) for $103/share.

May PPI (Briefing.com consensus 0.2%) and core PPI (consensus 0.1%) will be reported at 8:30 ET, while the June Michigan Sentiment survey (consensus 82.9) will be released at 9:55 ET.

6:40 am: [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +8.00.

6:40 am: [BRIEFING.COM] Nikkei...15097.84...+124.30...+0.80%. Hang Seng...23319.17...+144.20...+0.60%.

6:40 am: [BRIEFING.COM] FTSE...6770.82...-72.20...-1.00%. DAX...9845.67...-92.40...-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

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