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 Post subject: July 2nd Wednesday Trade Results - Loss $870.00
PostPosted: Thu Jul 03, 2014 4:21 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)
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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 @ ($870.00) dollars or -8.70 points, Emini ES ($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 Loss @ ($870.00) 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=132&t=1831

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=242&t=2402

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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.

Close, But No Cigar: Dow Below 17,000

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

NEW YORK (CNNMoney)
Here's the quick summary of stocks Wedneday: Close, but no cigar.

The Dow rose to a record high, but the blue-chip average is still about 24 points below 17,000 -- a level many investors say is psychologically important. The modest advance (0.12%) was enough to push the Dow above its all-time high from Tuesday. The S&P 500 narrowly surpassed its record high as well and now sits at 1,974.6. The Nasdaq inched lower.

Here are 6 things traders were keeping an eye on ... besides the Dow.

1. Is the market too hot? There are signs the stock market may be overheating. Central bankers sound increasingly concerned about asset bubbles. Some measures of stock valuations are flashing red. And while the economy has improved, some investors say stocks have outpaced reality.

The CNNMoney Fear & Greed index is currently pointing to 'extreme greed'.

Scott Wren, senior equity strategist at Wells Fargo Advisors, downplayed the significance of the Dow crossing 17,000 in a note to clients.

"This is not a technical trading level that looks important on the price charts," he said. "It is more of a psychological level."

Related: 5 top performing stocks so far in 2014

* Video - Dow near 17,000 ... so what?

Still, he expects the Dow to continue pushing higher, thanks to record corporate earnings, stock valuations that are "reasonable," a gradually improving economy and continued support from the Federal Reserve.

2. Strong hiring in June: Paycheck processor ADP (ADP) said private-sector payrolls grew by 281,000 in June, far exceeding expectations. The report suggests the government's monthly payroll tally, which comes out Thursday, could exceed 200,000, according to CNNMoney's survey of economists.

Related: Autopsy of America: photos of dead malls

3. Delta blames World Cup for poor traffic: Airline stocks were grounded after Delta (DAL) said the World Cup was taking a toll on business travel in Latin America. American Airlines Group (AAL) and United Continental (UAL) were also down sharply.

One trader on StockTwits said airline stocks were hurt by concerns that bad weather could make traveling difficult this 4th of July weekend.

"$AAL $DAL Hurricane in the middle of a holiday is sending airlines down. But it's probably a buying opp," read a post by WingPuppy.

4. Constellation soars, GoPro finally comes back to Earth: Constellation Brands (STZ) shares gained over 2% after the beer and wine distributor reported strong quarterly results and boosted its outlook. The U.S. distributor of Corona expects net income from its beer business to grow between 25% and 30%.

Gravity appears to be setting in for GoPro (GPRO). Shares of the wearable video camera company were down for the first time since it's initial public offering on Thursday. That said, shares are still trading above $42 -- a significant premium above the IPO price of $24.

JPMorgan (JPM) was another well-known stock on the move. Shares fell nearly 1% after CEO Jamie Dimon announced he was diagnosed with a curable throat cancer. He will continue working as he undergoes treatment.

Related: The 5 worst performing stocks from the first half of 2014

5. Yellen speaks, markets listen: The head of the Fed, Janet Yellen, said in a speech Wednesday that she doesn't currently see any need to shift the central bank's focus from supporting the economy to managing financial risks.

While she sees "pockets of increased risk-taking across the financial system," Yellen argues that policymakers have made progress in safeguarding the system from unexpected shocks since the financial crisis.

Pimco chief Bill Gross also believes that asset markets are not as "bubbly" as they appear. In his latest investment outlook, Gross said he expects interest rates to remain subdued for a long time, which should limit the risk of a bear market in stocks.

6. International markets: European markets ended mixed. All the major Asian markets ended with gains, taking their cue from Wall Street's rally on Tuesday.
best preforming markets main

Argentina is doing well in the World Cup, and its stock market is scoring goals with investors too. Despite recent concerns about its bonds, Argentina is by far and away the world's top performing stock market so far in 2014. Check out the rest.

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4:10 pm: [BRIEFING.COM] The stock market spent the Wednesday session in a narrow range, which resulted in the S&P 500 posting a slim gain of less than two points (0.1%) with six sectors ending in the green. The Dow Jones Industrial Average (+0.1%) outperformed slightly, while the Russell 2000 (-0.4%) lagged.

The major averages climbed out of the gate, but the early strength was short-lived as only a handful of sectors were able to distance themselves from their flat lines. The lack of concerted sector leadership caused the key indices to return to their flat lines, where they remained into the close.

One sector that displayed notable strength throughout the session was yesterday's leader-health care. The countercyclical group added 0.7% with biotechnology underpinning the advance. The iShares Nasdaq Biotechnology ETF (IBB 264.55, +1.43) tacked on 0.5%.

The relative strength of biotechnology was unable to boost the Nasdaq Composite (unch), which suffered from relative weakness among high-growth names. For instance Facebook (FB 66.45, -1.61), Netflix (NFLX 466.74, -6.36), Priceline.com (PCLN 1237.84, -8.93), and Tesla (TSLA 229.42, -10.29) lost between 0.7% and 4.3%. Meanwhile, the consumer discretionary (+0.2%) and technology (unch) sectors ended little changed.

'Little changed' is how the entire cyclical side ended the trading day. The materials sector (+0.2%) posted a slim gain, while energy (-0.1%), financials (unch), and industrials (-0.1%) settled in the red.

Notably, the industrial sector was pressured by transport stocks, and specifically, airlines. Delta Air Lines (DAL 38.24, -2.07) and United Continental (UAL 39.27, -2.99) registered respective losses of 5.1% and 7.1% after Delta reported disappointing monthly passenger unit revenue, while the broader Dow Jones Transportation Average shed 0.4%.

Returning to countercyclical sectors for a second, two other defensively-oriented groups-consumer staples (+0.2%) and telecom services (+0.5%)-posted gains, while the utilities sector (-2.0%) finished at the bottom of the leaderboard for the second day in a row.

The magnitude of the loss in the rate-sensitive sector was likely assisted by today's increase in Treasury yields. Treasuries tumbled to lows following today's ADP Employment report and continued drifting lower throughout the trading day. The 10-yr note lost half a point, sending its yield higher by six basis points to 2.62%.

Participation was well below average with less than 585 million shares changing hands at the NYSE.

Economic data included May Factory Orders, June ADP Employment, and the weekly MBA Mortgage Index:

Factory orders declined 0.5% in May after increasing an upwardly revised 0.8% (from 0.7%) in April. The Briefing.com consensus expected a decline of 0.4%
The revisions to the May durable goods data were extremely minor. Total orders were revised up from the advance (-1.0%), but still fell 0.9%. These orders increased 0.9% in May
Transportation orders, which were originally down 3.0%, were revised to -2.9%
Excluding transportation, durable goods orders were flat in May after originally reporting a small 0.1% decline
According to the ADP National Employment Report, employment in the nonfarm private business sector rose by 281K in June. That was well above the increase of 200K expected by the Briefing.com consensus
The May reading was left unrevised at 179,000
The weekly MBA Mortgage Index slipped 0.2% to follow last week's 1.0% decline

Tomorrow, the Challenger Job Cuts report for June will be released at 7:30 ET, while weekly initial claims (Briefing.com consensus 315K), June Nonfarm Payrolls (consensus 210K), and May Trade Balance (consensus -$45.20 billion) will all be released at 8:30 ET. The day's data will be topped off with the 10:00 ET release of the June ISM Services report (expected 56.5).

S&P 500 +6.8% YTD
Nasdaq Composite +6.7% YTD
Dow Jones Industrial Average +2.4% YTD
Russell 2000 +3.1% YTD

3:35 pm: [BRIEFING.COM]

Energy continued to trade in negative territory in afternoon action
Crude oil ended today's session near its LoD. Aug crude finished $0.88 lower at $104.48/barrel
Natural gas also remained in the red and closed just above its HoD, ending 10 cents lower at $4.36/MMBtu
Gold and silver gave up some of their gains, but still ended the session higher
Aug gold rose $5.40 to $1331/oz, while Sept silver advanced $0.20 to $21.31/oz.
Copper futures held gains and closed at its HoD, finishing 7 cents higher at $3.27/lb.

3:00 pm: [BRIEFING.COM] The S&P 500 has slipped to a fresh low with one hour left in the session. Equities climbed out of the gate, but the benchmark index ran into resistance in the 1976 area as a handful of influential sectors refused to partake in the rally.

While the broader market could not build on its early strength, the top-performing sector has. The health care space (+0.5%) enters the final hour on its high. Biotechnology, however, has surrendered roughly half of its early advance. The iShares Nasdaq Biotechnology ETF (IBB 264.12, +1.00) is higher by 0.4%.

2:30 pm: [BRIEFING.COM] The S&P 500 remains anchored to its flat line, while the Russell 2000 (-0.3%) underperforms.

This morning, participants received a handful of economic data points with the latest ADP Employment report (281,000 versus Briefing.com consensus 200,000) receiving the most attention. That report set the expectations for a strong Nonfarm Payrolls report tomorrow (Briefing.com consensus 210K).

The June jobs report will be released on Thursday instead of the typical Friday, due to the Independence Day holiday, which falls on Friday. In addition to the jobs report, participants will also receive weekly initial claims (consensus 315K) and the Trade Balance for May (consensus -$45.20 billion).

2:00 pm: [BRIEFING.COM] The S&P 500 remains near its flat line with most sectors trading close to their recent levels. However, both financials and technology are now in the red after showing modest strength earlier in the session.

Interestingly, the range-bound action in equities contrasts with the performance of the bond market. Treasuries slid to lows following today's ADP Employment report and they have been inching lower ever since then. At this juncture, the 10-yr note is lower by half a point with its yield up six basis points at 2.62%. The long bond, meanwhile, has kept pace with the 10-yr, also climbing six basis points to 3.46%.

1:30 pm: [BRIEFING.COM] The major indices remain confined to their narrow ranges, which also leaves them close to unchanged for the day.

With the third quarter now underway, there is a clear sign of some sector rotation taking place. One needs only to look at the utilities and energy sectors to understand that point. Those two sectors were among the best-performing in the second quarter. So far, however, the utilities sector has dropped 3.1% in the first two days of the third quarter while the energy sector has dipped 0.2%. Every other sector is up at least 0.4% over the last two sessions.

The bump in long-term rates has clipped the rate-sensitive utilities sector (-2.1%) today, but the outsized loss on a day like today when the S&P 500 is flat suggests it is owed more to a case of investors taking profits and moving them elsewhere.

That trend could continue if the government's employment report on Thursday is strong and contributes to concerns about the Fed possibly raising the fed funds rate sooner than expected.

1:00 pm: [BRIEFING.COM] The major averages are little changed at midday with the S&P 500 trading right at its flat line. The Nasdaq Composite (+0.1%) is a modest outperformer, while the Russell 2000 (-0.2%) lags.

Equity indices have spent the first half of the trading day inside narrow ranges and the benchmark index has bounced between 1972 and 1977 amid lacking sector leadership. Seven of ten sectors sport gains at this time, but outside of noteworthy strength in the health care sector (+0.5%) other influential groups have done little to distinguish themselves.

The health care sector is enjoying its second consecutive session in the lead with biotechnology making a contribution. The iShares Nasdaq Biotechnology ETF (IBB 264.76, +1.64) trades higher by 0.6%.

Elsewhere, other influential groups like consumer discretionary (+0.1%), financials (unch), and technology (+0.1%) sit much closer to their flat lines.

Only three groups hover in the red with yesterday's laggard-utilities (-2.2%)-showing relative weakness again. Meanwhile, the other two decliners-energy (-0.3%) and industrials (-0.2%)-hold slimmer losses, but their underperformance is more notable considering each sector represents at least 10.0% of the entire S&P 500 versus a 3.5% market share for the utilities sector.

The energy space has slumped to lows amid weakness in crude oil. The energy component is now lower by 0.8% at $104.48/bbl after failing to retake its flat line roughly two hours ago. However, it is worth mentioning the energy sector ended June ahead of the other groups (+4.9%), which suggests some profit taking is warranted.

Also of note, industrials have been pressured by transport stocks due to significant weakness in airlines after Delta Air Lines (DAL 38.26, -2.05) reported below-consensus monthly passenger unit revenue. The stock trades down 5.0%, while the Dow Jones Transportation Average holds a loss of 0.4%.

Treasuries slumped this morning and they have been inching lower since. The benchmark 10-yr yield is higher by five basis points at 2.60%.

Economic data included May Factory Orders, June ADP Employment, and the weekly MBA Mortgage Index:

Factory orders declined 0.5% in May after increasing an upwardly revised 0.8% (from 0.7%) in April. The Briefing.com consensus expected a decline of 0.4%
The revisions to the May durable goods data were extremely minor. Total orders were revised up from the advance (-1.0%), but still fell 0.9%. These orders increased 0.9% in May
Transportation orders, which were originally down 3.0%, were revised to -2.9%
Excluding transportation, durable goods orders were flat in May after originally reporting a small 0.1% decline
According to the ADP National Employment Report, employment in the nonfarm private business sector rose by 281K in June. That was well above the increase of 200K expected by the Briefing.com consensus
The May reading was left unrevised at 179,000
The weekly MBA Mortgage Index slipped 0.2% to follow last week's 1.0% decline

12:30 pm: [BRIEFING.COM] The major averages continue bouncing around narrow ranges with seven sectors trading in the green.

On the downside, industrials (-0.2%) and utilities (-1.7%) have lagged since the open and the energy sector (-0.3%) has recently joined the earlier underperformers in the red. The growth-sensitive sector has slumped amid weakness in crude oil.

The energy component now trades at a fresh low, down 0.9% at $104.36/bbl, after being unable to turn positive during the past 30 minutes.

Elsewhere, the other commodity-related sector-materials (+0.3%)-trades ahead of the remaining cyclical groups.

12:00 pm: [BRIEFING.COM] Not much change in the key indices as they remain within a shouting distance of their flat lines. The Nasdaq Composite is the top-performing index (+0.1%), while the Russell 2000 (-0.2%) hovers below its flat line.

The health care sector (+0.4%), which claimed the lead shortly after the open, continues trading ahead of the other groups with biotechnology contributing to the relative strength (IBB +0.6%). Meanwhile, two other countercyclical sectors-consumer staples (+0.3%) and telecom services (+0.2%) also display relative strength, while utilities (-1.4%) lag for the second day in a row.

Elsewhere, Treasuries remain pinned to their lows with the 10-yr yield up four basis points at 2.61%.

11:30 am: [BRIEFING.COM] The major averages have returned to their flat lines as part of a broad-based move that pressured just about every sector. Most notably, the technology sector has dipped into the red for the first time today.

Several top-weighted sector components like Apple (AAPL 93.45, -0.07), Google (GOOGL 591.31, -0.18), Microsoft (MSFT 41.60, -0.27), and Intel (INTC 30.85, -0.13) now trade in the red, while IBM (IBM 188.31, +1.96) outperforms with a solid 1.1% gain.

Even though Intel appears among the laggards, other chipmakers have held up well with the PHLX Semiconductor Index up 0.1%.

On a separate note, Fed Chair Yellen is currently speaking at the IMF central banking conference in Washington, but her remarks on financial stability were free of comments about current monetary policy.

10:55 am: [BRIEFING.COM] The major averages hover near the top end of their trading ranges with the Nasdaq Composite (+0.2%) maintaining its position just ahead of the S&P 500 (+0.1%).

Eight of ten sectors hold gains with yesterday's leader-health care (+0.4%)-once again setting the pace. Biotechnology has played a part in the outperformance with the iShares Nasdaq Biotechnology ETF (IBB 264.22, +1.10) trading higher by 0.4%.

Outside of health care, no other sector trades with a gain larger than 0.2%. On the downside, the utilities sector (-1.3%) has extended its decline and industrials (-0.2%) have dipped into the red amid weakness in transport stocks. The Dow Jones Transportation Average is lower by 0.3%.

10:35 am: [BRIEFING.COM]

Crude oil futures fell back below $105/barrel after morning weakness, driven by a few catalysts
Oil prices ease after Libyan rebels said they would open the last two oil ports/terminals (eastern oil ports).
Also, oil prices are seeing some relief as fighting in Iraq continues to stay out of Southern Iraq
Brent and WTI crude oil futures are at 3-week lows on Iraq/Libya actions
Ahead of the weekly EIA inventory data, crude was near its LoD
Following this EIA data, Aug crude oil popped a little and is now back over $105/barrel
Aug crude oil is now -0.3% at $105.03/barrel
Aug natural gas is also in the red and just hit a fresh LoD. Aug NG is now -1.8% at $4.37/MMBtu
Gold and silver are back in positive territory following the morning decline on ADP Employment data
Aug gold is now +0.2% at $1328.80/oz, Sept silver is +0.6% at $21.24/oz (both are near HoD)
Sept copper just hit a new HoD and is currently +1.3% at $3.24/lb
Sept corn is -1.3% at $4.17/bushel

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.1%.

The just-released factory orders report for May indicated orders decreased 0.5%, which was worse than the Briefing.com consensus estimate that called for a decrease of 0.4%. The April reading was revised up to 0.8% from 0.7%.

9:40 am: [BRIEFING.COM] Equity indices began the session with slim losses, but managed to regain their flat lines rather swiftly. The S&P 500 trades higher by roughly two points with nine sectors showing early gains.

Consumer staples (+0.2%), consumer discretionary (+0.3%), and financials (+0.2%) display opening strength, while most of the remaining sectors hover a bit closer to their flat lines. For its part, the utilities sector underperforms with a loss of 0.7%.

The rate-sensitive utilities space slumped out of the gate amid today's increase in Treasury yields. The 10-yr note is lower by ten ticks with its yield up four basis points at 2.60%.

The Factory Orders report (consensus -0.4%) for May will cross the wires at 10:00 ET.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: +1.00. The major averages are on track for a modestly higher start to the session as futures on the S&P 500 trade less than a point above fair value. Index futures spent the bulk of the overnight session near their flat lines before climbing to fresh highs during the past two hours.

Overnight, markets in Asia took the lead from yesterday's advance on Wall Street, while most European indices trade just above their flat lines.

Market participants received a couple data points this morning, including the weekly MBA Mortgage Index (-0.2%; previous -1.0%) and the ADP Employment Survey (281K versus Briefing.com consensus 200K). Futures spiked in reaction to the ADP report, but they have since returned to their earlier levels.

One more report remains on today's schedule in the form of May Factory Orders (consensus -0.4%), which will be announced at 10:00 ET.

Treasuries hover near their lows with the 10-yr yield up almost three basis points at 2.59%.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +2.50. The S&P 500 futures trade one point above fair value.

Asian markets ended a relatively quiet Wednesday session with broad gains. Press reports in China indicate the Bureau of Statistics may add intellectual property to its GDP calculation.

Economic data was limited:
Japan's Monetary Base expanded 42.6% year-over-year (expected 48.3%, previous 45.6%)
Australia's trade deficit widened to $1.91 billion from $780 million (expected deficit of $120 million) as imports fell 1% (prior 2%) and exports dropped 5% (-1% previous)
New Zealand's ANZ Commodity Price Index fell 0.9% month-over-month (previous -2.2%)

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Japan's Nikkei added 0.3%, ending just above its session low. Exporters Suzuki Motor and NEC displayed strength with respective gains of 4.9% and 4.1%. Producers of basic materials lagged with Sumitomo Osaka Cement and Tokuyama both down near 2.4%
Hong Kong's Hang Seng rallied 1.6% into the close with help from casino and gaming names. Galaxy Entertainment surged 4.8% and Tencent Holdings advanced 3.9%
China's Shanghai Composite rose 0.4%, climbing from a session low to a fresh high during the final two hours of action. Shipping-related names outperformed. Dalian Port and Rizhao Port both surged 10.0%

Major European indices trade mostly higher. French Prime Minister Manuel Valls commented on the euro, saying the single currency was overvalued, which calls for more action from the European Central Bank. Today, the euro has slid below its 200-day moving average, falling to 1.3650 against the dollar.

In economic data:
Eurozone Q1 GDP was left unrevised at 0.2% quarter-over-quarter and 0.9% year-over-year, as expected. Separately, PPI slipped 0.1% month-over-month, while the year-over-year reading fell 1.0%. Both figures matched expectations.
Great Britain's. Nationwide HPI rose 1.0% month-over-month (consensus 0.6%, previous 0.7%), while the year-over-year reading surged 11.8% (expected 11.2%, prior 11.1%). Separately, Construction PMI improved to 62.6 from 60.0 (expected 59.5)
Spain's Unemployment Claims declined 122,700 (expected -97,300, prior -111,900)

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In France, the CAC is lower by 0.2%. Carrefour outperforms with a gain of 3.2%, while telecom service provider Orange is the weakest listing, down 3.6%
Germany's DAX is higher by 0.1%. Growth-sensitive names like ThyssenKrupp and Daimler are up 1.8% and 1.0%, respectively. Deutsche Lufthansa lags, down 2.6%.
Great Britain's FTSE trades up 0.3% with financials showing strength. Ashtead Group, HSBC Holdings, and Standard Chartered hold gains between 0.9% and 2.0%.
Italy's MIB is higher by 0.7% thanks to broad strength. Mediaset leads with a 3.0% increase.

8:26 am: [BRIEFING.COM] S&P futures vs fair value: +1.60. Nasdaq futures vs fair value: +3.70. The S&P 500 futures trade almost two points above fair value.

According to today's ADP National Employment Report, employment in the nonfarm private business sector rose by 281K in June. That was well above the increase of 200K expected by the Briefing.com consensus. The May reading was left unrevised at 179,000.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +3.00. U.S. equity futures display slim gains amid subdued action overseas. The S&P 500 futures trade two points above fair value.

Reviewing overnight developments:

Asian markets ended higher. Japan's Nikkei +0.3%, China's Shanghai Composite +0.4%, and Hong Kong's Hang Seng +1.6%.
Economic data was limited:
Japan's Monetary Base expanded 42.6% year-over-year (expected 48.3%, previous 45.6%)
Australia's trade deficit widened to $1.91 billion from $780 million (expected deficit of $120 million) as imports fell 1% (prior 2%) and exports dropped 5% (-1% previous)
New Zealand's ANZ Commodity Price Index fell 0.9% month-over-month (previous -2.2%)
In news:
Press reports in China indicate the Bureau of Statistics may add intellectual property to its GDP calculation

Major European indices trade mostly higher. Great Britain's FTSE +0.4%, Germany's DAX +0.2%, and France's CAC is flat. Elsewhere, Italy's MIB +0.8% and Spain's IBEX +0.1%.
In economic data:
Eurozone Q1 GDP was left unrevised at 0.2% quarter-over-quarter and 0.9% year-over-year, as expected. Separately, PPI slipped 0.1% month-over-month, while the year-over-year reading fell 1.0%. Both figures matched expectations.
Great Britain's. Nationwide HPI rose 1.0% month-over-month (consensus 0.6%, previous 0.7%), while the year-over-year reading surged 11.8% (expected 11.2%, prior 11.1%). Separately, Construction PMI improved to 62.6 from 60.0 (expected 59.5)
Spain's Unemployment Claims declined 122,700 (expected -97,300, prior -111,900)
Among news of note:
French Prime Minister Manuel Valls commented on the euro, saying the single currency was overvalued, which calls for more action from the European Central Bank. Today, the euro has slid below its 200-day moving average, falling to 1.3665 against the dollar.

In U.S. corporate news:

Bank of America (BAC 15.80, +0.20): +1.3% following an upgrade at Deutsche Bank to 'Buy.'
CalAmp (CAMP 18.99, -3.07): -13.9% after its cautious Q2 guidance overshadowed its one-cent beat on above-consensus revenue.
Greenbrier (GBX 62.00, +4.29): +7.4% after beating estimates and guiding higher.
Rackspace (RAX 36.90, +3.15): +9.3% amid speculation the company may go private.

The weekly MBA Mortgage Index slipped 0.2% to follow last week's 1.0% decline.

The Challenger Job Cuts report for June has been moved to tomorrow.

ADP Employment Change (Briefing.com consensus 200K) for June will be announced at 8:15 ET, while May Factory Orders (consensus -0.4%) will cross the wires at 10:00 ET.

6:22 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +3.50.

6:22 am: [BRIEFING.COM] Nikkei...15369.97...+43.80...+0.30%. Hang Seng...23549.62...+358.90...+1.60%.

6:22 am: [BRIEFING.COM] FTSE...6822.38...+19.50...+0.30%. DAX...9924.52...+22.10...+0.20%.

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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