TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Sun Oct 06, 2024 4:10 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: July 25th Friday Trade Results - Profit $1005.00
PostPosted: Sat Jul 26, 2014 8:24 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4340
Location: Canada
Image

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)

Attachment:
072514-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1005.00.png
072514-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1005.00.png [ 174.68 KiB | Viewed 401 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $380.00 dollars or +3.80 points, Emini ES ($ES_F) futures @ $625.00 dollars or +12.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $1,005.00 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=1847

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

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

Stocks End Week On Sour Note

Attachment:
072514-Key-Price-Action-Markets.png
072514-Key-Price-Action-Markets.png [ 1.1 MiB | Viewed 389 times ]

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

NEW YORK (CNNMoney)
Investors will have to wait until next week to see if the S&P 500 can finally top 2,000. Stocks fell broadly on Friday.

The S&P finished the day down about 0.5% The Dow fell almost 130 points, or more than 0.7%. Visa (V), which has the biggest weighting in the Dow, dragged down the blue chips with its 4% drop.

The Nasdaq fell too, largely due to an almost 10% drop in Amazon (AMZN, Tech30) following its latest earnings.

Despite Friday's declines, it wasn't that bad of a week for stocks. The Nasdaq, S&P 500 and Dow ended the week mostly unchanged.

Here are some highlights from Friday's trading.
dow close

Amazonian drought: Amazon's sales jumped more than 20% but it also reported a $126 million loss. Some investors may be growing tired of Amazon's long history of quarters where it loses more than expected due to big investments.

The company has been spending a lot this quarter, unveiling products and services like the Fire TV, Fire Phone and Sunday delivery, but it seems that's not enough to keep some investors around until next quarter.

IPO Loco: It was an amazing debut for El Pollo Loco (LOCO), whose shares surged 60% from their offering price of $15.

The company has a lot of debt and isn't exactly Chipotle (CMG), but it has ambitious expansion plans and healthy IPO market behind it.

Related: Are healthy chicken and a tiny profit enough to take El Pollo Loco nationwide?

A few other companies debuted today, but none had El Pollo Loco's spark: Orion Engineered Carbons (OEC) and was down slightly. Ocular Therapeutix (OCUL) and Advanced Drainage Systems (WMS) rose modestly. Innocoll (INNL) was flat.

Cynk sinks: Cynk Technology (CYNK), the mysterious social network with no earnings, revenue or even assets, is once again trading after the SEC suspended trading two weeks ago following a from-nowhere 25,000% price increase. The stock was down 85%.

Related: Cynk comes back and bombs

Fox aims sky-high: 21st Century Fox (FOXA) merged its BSkyB cable assets in Germany and Italy with BSkyB in England, freeing up $8.3 billion in cash. The market thinks that the money might be put to use to help Rupert Murdoch's Fox make a higher bid for Time Warner (TWX), which Fox has sought to buy for $80 billion. Time Warner turned down the offer. Fox shares were flat and Time Warner shares were up 1.2%.

Related: Time Warner shares skyrocketed when Murdoch's offer went public

Several other stocks caught up in merger speculation were on the move as well. After rumors of a potential tie-up between Zillow (Z) and Trulia (TRLA) began swirling yesterday, both stocks surged. The rally continued Friday with Zillow up 9% and Trulia almost 5% higher.

SodaStream (SODA), which soared Thursday on reports it may look to go private, wasn't so lucky. The stock fell more than 1%.

Other stock movers: Visa is having one of the worst days in the S&P 500 behind Amazon. It had a great quarter that exceeded expectations and even spurred a number of price target upgrades from analysts. But it lowered its revenue growth forecast, and it's getting punished. Rival MasterCard (MA), whose earnings come out in a week, was down 2%.

Starbucks (SBUX) also reported a good quarter. But its shares fell 2% despite a positive outlook from CEO Howard Schultz.

Matt Peron, managing director for equities at Northern Trust Asset Management, said the pair were victims of uncertain investors looking to escape an anticipated downturn.

"People take a glass-half-empty view, then when it's risk back on they'll come back to those names," he said.

International Markets: The Russian central bank had to raise interest rates to lure foreign investors amid sanctions related to its aggression around Ukraine and high inflation. The main RTS index closed down more than 1.6%.

Related: Russia is paying a higher price for isolation

Asian markets ended the day mixed, but Japanese stocks surged 1.13% after data shows inflation may finally be returning to the long-dormant economy. European stocks ended the day broadly down, with the FTSE 100 closing about 0.4% lower.

Image



4:20 pm: [BRIEFING.COM] The stock market capped the trading week with losses across the major averages. The S&P 500 fell 0.5% to surrender its weekly gain, while the Dow Jones Industrial Average (-0.7%) and Russell 2000 (-0.9%) underperformed. The two indices posted respective losses of 0.8% and 0.6% for the week.

Equity indices were pressured from the get-go after several heavyweights disappointed the market with their earnings and/or guidance, which led to some broader profit-taking. After the opening slide was complete, the major averages began inching higher, but were knocked to fresh lows in short order when it was reported that European Council President Herman Van Rompuy suggested the next round of sanctions against Russia should target oil (but not gas) companies.

The retreat in equities signaled the presence of underlying concerns that a new round of economic sanctions could have a boomerang effect on the global economy. For its part, oil futures responded by spiking off their lows to end little changed at $102.10/bbl.

Eight of ten sectors finished in the red with the consumer discretionary space (-1.2%) at the bottom of the leaderboard. The sector, and Nasdaq Composite (-0.5%), were pressured by shares of Amazon.com (AMZN 324.01, -34.60), which fell 9.7% in reaction to a bottom-line miss and cautious guidance. Other retailers did not escape unscathed with the SPDR S&P Retail ETF (XRT 84.33, -1.00) sliding 1.2%.

Elsewhere among cyclical groups, the top-weighted S&P 500 sector-technology (-0.2%)-ended ahead of the broader market despite a 3.6% drop in Visa (V 214.77, -7.97). The payment processor reported better than expected earnings, but its guidance was a point of concern for investors.

Deeper in the tech sector, high-beta chipmakers displayed broad losses after Freescale Semiconductor (FSL 19.98, -2.11), Maxim Integrated (MXIM 29.38, -3.56), and KLA-Tencor (KLAC 71.60, -1.42) reported disappointing results. The trio lost between 1.9% and 10.8%, while the PHLX Semiconductor Index fell 2.0%.

Even though the tech sector finished ahead of the broader market, other heavily-weighted sectors like energy (-0.8%) and financials (-0.6%) prevented the S&P 500 from staging an afternoon recovery.

The financial sector settled just behind the S&P 500, which was fitting as both the economically-sensitive sector and the benchmark index ended the week unchanged. Insurer Chubb (CB 89.62, -3.14) was a notable underperformer, falling 3.4% in reaction to a lowered full-year outlook on the back of a disappointing second quarter and larger than expected insurance payouts.

Although the market ended near its lows, that was not the case for El Pollo Loco (LOCO 24.03, +9.03), which made its debut today. The newcomer soared 60.2% after its IPO priced at $15.00 per share and opened at $19.00.

Treasuries rallied into the early afternoon and the 10-yr note settled on its high with the benchmark yield down four basis points at 2.47%.

Participation was well below average with under 558 million shares changing hands at the NYSE, suggesting there was no 'rush for the exits' taking place.

On the economic front, the durable orders report for June surpassed estimates (+0.7% versus Briefing.com consensus 0.3%), but shipments of goods declined 1.0%, which will be a negative for Q2 GDP.

Monday's data will be limited to the Pending Home Sales report for June (Briefing.com consensus -0.8%), which will be released at 10:00 ET.
• S&P 500 +7.0% YTD
• Nasdaq Composite +6.5% YTD
• Dow Jones Industrial Average +2.3% YTD
• Russell 2000 -1.5% YTD
Week in Review: Earnings in Focus

Things could have been better on Monday for the stock market and they could have been worse. They were worse in the early going as the major indices backpedaled quickly at the start of trading. The ostensible catalysts for the opening retreat were geopolitical concerns over Israel's ground assault in Gaza and the troublesome diplomatic dealings in the wake of Malaysian Air flight MH17 being shot down over eastern Ukraine last week. At their lows of the morning, the Dow, Nasdaq, and S&P 500 were down 126, 28, and 12 points, respectively. They would eventually battle back, though, to pare their losses, drawing encouragement from technical support holding at 1966 for the S&P 500 and a small sense of relief that remarks from President Obama did not include the imposition of any new sanctions against Russia.

The market finished the Tuesday session on an upbeat note with small caps pacing the rally. The Russell 2000 advanced 0.8%, while the S&P 500 added 0.5% with eight sectors ending in the green. Although geopolitical concerns factored into the modest retreat on Monday, the worries were cast aside on Tuesday after separatist forces in eastern Ukraine handed over black boxes from MH17 to Malaysian authorities and Secretary of State John Kerry began working on brokering a cease fire in Gaza. Furthermore, the sentiment was boosted by a slate of mostly better than expected earnings. Notably, Chipotle Mexican Grill (CMG) soared 11.8% after beating estimates and surpassing comparable restaurant sales growth expectations. However, McDonald's (MCD) painted a less upbeat picture with its stock falling 1.3% in reaction to below-consensus earnings and revenue.

Equities ended the Wednesday session on a mixed note. The tech-heavy Nasdaq displayed relative strength, climbing 0.4%, while the S&P 500 added 0.2% with five sectors settling in the green. For its part, the Dow Jones Industrial Average (-0.2%) spent the entire trading day below its flat line. The midweek affair started on a rather unassuming note in the absence of market-moving news or economic releases. With those pieces missing from the equation, participants turned their attention to quarterly earnings as another dose of better than expected results pushed the S&P 500 into record territory.

On Thursday, stocks maintained a narrow trading range before ending the session essentially where they began. The S&P 500 added less than a point, while the small-cap Russell 2000 (-0.2%) underperformed. Equity indices displayed early strength thanks in part to an overnight boost from better than expected economic data in China and Europe. Specifically, China's HSBC Manufacturing PMI surged to an 18-month high (52.0 from 50.7), while Eurozone Manufacturing PMI (51.9; expected 51.7) and Services PMI (54.4; expected 52.7) also surpassed estimates. In addition to upbeat data from overseas, participants received a batch of better than expected earnings, but the market had a difficult time building on its early gain. The S&P 500 surrendered its opening advance during the initial minutes, but was able to follow that with a rally to a fresh record high (1991.39). The index could not hold that level into the afternoon and slipped back to its flat line by the close.

3:30 pm: [BRIEFING.COM] Precious metals climbed higher today on further geopolitical tension in Ukraine and Gaza. Headlines indicated that Russia's foreign minister reiterated his belief that the U.S. shares blame for the bloodshed in Ukraine. In addition, chatter circulated that Israel has officially rejected a ceasefire proposal.

Despite strength in the dollar index, Aug gold came off its session low of $1293.30 per ounce and rose as high as $1303.80 per ounce. It settled 1.0% higher at $1303.00 per ounce, booking a 0.5% loss for the week.

Sep silver traded as high as $20.65 per ounce after lifting from a session low of $20.42 per ounce. It settled with a 1.1% gain at $20.64 per ounce, cutting weekly losses to 1.1%.

Sep crude oil chopped around near the unchanged line after trading as low as $100.95 per barrel in early morning action. The energy component touched a session high of $102.53 per barrel and settled 4 cents higher at $102.10 per barrel, booking a 0.1% gain for the week.

Aug natural gas fell deeper into negative territory as it retreated from its session high of $3.82 per MMBtu. It brushed a session low of $3.76 per MMBtu and settled 1.8% lower at $3.78 per MMBtu, bringing losses for the week to 4.3%.
2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.5% with one hour remaining in the final session of the week. If the benchmark index holds its current level into the close, it will end the week unchanged.

Quarterly earnings were the focus between yesterday's close and today's opening bell and their aftereffect is still being felt by the major averages at this time. On Monday, the second busy week of the Q2 earnings season will begin with Cummins (CMI 150.39, -0.41), Sohu.com (SOHU 57.11, +0.96), and Tyson Foods (TSN 39.49, -0.28) set to report their results.
2:30 pm: [BRIEFING.COM] Equity indices remain on the defensive with the S&P 500 trading lower by 0.5%.

Market participants received just a handful of economic reports this week and none of them have caused a noteworthy reaction in the market. However, things are shaping up to be a bit different next week with a full dose of economic data on the schedule.

The week will start on a relatively quiet note with Monday's data limited to the June Pending Home Sales report. On Tuesday, investors will receive the Consumer Confidence report for July, while Wednesday will bring the advance reading of Q2 GDP and the latest policy decision from the Federal Reserve.

Moving on, Thursday will feature the Chicago PMI report, while the July jobs report is scheduled to be released on Friday morning.
2:00 pm: [BRIEFING.COM] Not much change in the major averages as they remain in the lower half of today's trading range. The S&P 500 holds a loss of 0.6% with eight sectors in the red.

The discretionary sector (-1.2%) tumbled to the bottom of the leaderboard at the start of the session and has not been able to put together any sort of a rebound yet. Similarly, Amazon.com (AMZN 322.92, -35.68) remains not far above its opening low. Given the weakness in a major retailer, the SPDR S&P Retail ETF (XRT 84.44, -0.89) trades lower by 1.0%.

Elsewhere, Treasuries have maintained their bullish bias with the 10-yr note (+10/32) climbing to a new high. The benchmark yield is now down four basis points at 2.47%.
1:30 pm: [BRIEFING.COM] It has been a tough go for the stock market today, which has been buffeted by disappointing earnings guidance from some notable companies and geopolitical unease ahead of the weekend.

The EU is reportedly set to announce new sanctions against Russia; meanwhile, Russia's foreign minister has reiterated that the US shares some of the blame for the bloodshed in Ukraine. The takeaway for market participants is that things aren't getting any better on the diplomatic front in this particular area. Furthermore, there are underlying concerns that new economic sanctions against Russia will have a boomerang effect on the global economy.

This has all fed into some safe-haven posturing today that has helped boost gold prices ($1304.30, +$11.60), the 10-yr note (+10/32 at 2.47%), and the CBOE Volatility Index (VIX 12.34, +0.50).

Even so, we wouldn't say there is any real sense of fear in the stock market. Weighed down by Amazon.com (AMZN 318.43, -40.18), the consumer discretionary sector (-1.1%) is the only sector down more than 1.0% right now -- and even it is off its lows of the day.
1:00 pm: [BRIEFING.COM] The major averages trade lower across the board at midday with the Russell 2000 (-0.8%) pacing the retreat. The S&P 500 holds a slimmer loss of 0.4% with eight sectors in the red.

Market participants received mostly better than expected quarterly reports during the first four sessions of the week, but that trend did not hold up into today. Equities slumped at the open with disappointing earnings and/or guidance from heavyweights like Amazon.com (AMZN 324.63, -33.96), Chubb (CB 89.45, -3.31), WellCare Health Plans (WCG 61.33, -15.52), KLA-Tencor (KLAC 72.10, -0.92), and Visa (V 213.30, -9.44), spurring some profit taking across most sectors.

Despite the opening slide, the initial 90 minutes of action had some makings of a rebound in progress, but the major averages then took another leg lower, while oil spiked to new highs (-0.1% at $101.99/bbl) amid reports European Council President Herman Van Rompuy suggested the next round of sanctions against Russia should target oil companies.

At this juncture, the consumer discretionary space (-1.0%) trades well behind the remaining sectors with Amazon.com contributing to the weakness. The online retail giant missed bottom-line estimates and guided lower. Other areas of the sector are also on the defensive with homebuilders showing losses across the board. The iShares Dow Jones US Home Construction ETF (ITB 23.12, -0.26) is lower by 1.1%.

Elsewhere, the top-weighted sector-technology (-0.3%)-has climbed ahead of the broader market, but chipmakers remain in a position of relative weakness. Shares of KLAC have factored into the underperformance with disappointing results from Freescale Semiconductor (FSL 20.44, -1.66) and Maxim Integrated (MXIM 28.93, -4.01) also contributing to the 1.6% loss in the PHLX Semiconductor Index.

Also of note, the tech sector has been able to climb off its worst level of the day, but the Dow Jones Industrial Average (-0.7%) remains near its low due to a 4.0% loss in its top-weighted component. Shares of Visa continue trading near their opening levels in reaction to disappointing guidance.

The weakness in stocks has given a boost to Treasuries. The 10-yr note sits on its high with the benchmark yield down three basis points at 2.48%.

On the economic front, the durable orders report for June surpassed estimates (+0.7% versus Briefing.com consensus 0.3%), but shipments of goods declined 1.0%, which will be a negative for Q2 GDP.
12:30 pm: [BRIEFING.COM] Not much change in the major averages as they remain near their lows. The S&P 500, which notched its session low just before 11:30 ET has been able to retake about four points over the past hour with dip-buyers showing some reluctance to step in.

Given its current level, the benchmark index is on track to end the week unchanged. Elsewhere, the Nasdaq has shown relative strength this week (+0.3%), while the Dow and Russell 2000 hold respective weekly losses of 0.8% and 0.5%.

With regard to individual sectors, consumer discretionary and energy moved in opposite directions. The discretionary space holds a week-to-date decline of 1.0%, while the energy sector is higher by 0.9% since last week.
12:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.5% with eight sectors showing losses. On the upside, materials (+0.2%) and telecom services (+0.3%) have held modest gains since the opening bell.

There were no noteworthy earnings reported in the materials sector today, but the group has drawn strength from mining shares. The Market Vectors Gold Miners ETF (GDX 26.50, +0.42) trades up 1.6%, while gold futures are higher by 0.6% at $1298.30/ozt.

Elsewhere, the telecom sector has been supported by heavyweights AT&T (T 35.56, +0.06) and Verizon (VZ 51.30, +0.26). The two names hold respective gains of 0.2% and 0.5%.
11:25 am: [BRIEFING.COM] The major averages have slipped to new lows for the session with the S&P 500 widening its loss to 0.7%.

In our prior update we mentioned that the benchmark index was trying to climb off its opening low, but that effort lacked strength, resulting in another leg lower for the major averages. The consumer discretionary sector (-1.3%) remains at the bottom of the leaderboard, while the top-weighted sector-technology (-0.7%)-sports a decline comparable to the S&P 500.

However, the in-line performance of the sector masks the significant weakness among chipmakers. The PHLX Semiconductor Index is lower by 2.3% with 29 components in the red. Maxim Integrated (MXIM 29.00, -3.94) is the weakest performer, down 12.0% after missing earnings expectations and guiding lower.
11:00 am: [BRIEFING.COM] The S&P 500 (-0.4%) has reclaimed about three points after notching a session low during the opening 15 minutes of the action, while the Dow Jones Industrial Average (-0.7%) remains not far from its worst level of the day.

So far, the price-weighted Dow has been unable to stage a rebound effort due to significant weakness in the top-weighted stock. Visa (V 212.16, -10.58) is lower by 4.8% following its disappointing guidance, while the second and third-largest components also hover in the red. IBM (IBM 195.13, -0.11) sits right below its flat line, while Goldman Sachs (GS 175.71, -0.55) holds a loss of 0.3%, which matches the decline in the financial sector.
10:35 am: [BRIEFING.COM]
• WTI crude oil was modestly higher overnight and rose as high as $102.23/barrel.
• However, oil began to sell off and slid to a new session low of $101.03/barrel and is currently -1% at $101.10/barrel.
• Natural gas sold off as well this morning. Nat gas lost steam after rising as high as $3.86/MMBtu
• Aug nat gas hit a new LoD of $3.77 in recent trade and is now -1.7% at $3.78/MMBtu
• Gold and silver have been in positive territory today, but have lost steam in recent action.
• Aug gold is currently +0.3% at $1294.80/oz, while Sept silver is +0.3% at $20.49/oz.
• Sept copper sold off this morning and just hit a new LoD of $3.24 and is now -0.6% at $3.25/lb
10:00 am: [BRIEFING.COM] Stocks remain pressured with the S&P 500 trading lower by 0.3%. The discretionary sector has ticked up off its worst level of the day, but remains lower by 0.9% at this juncture.

Elsewhere, the industrial space (+0.1%) has joined materials (+0.5%) and telecom services (+0.6%) in the green thanks in part to the relative strength of transport stocks. The Dow Jones Transportation Average is higher by 0.2% with airlines showing broad strength. United Continental (UAL 47.48, +2.56) trades up 5.8%, while Delta Air Lines (DAL 38.69, +0.62) sports an advance of 1.6%.

Also of note, Treasuries have climbed to new highs, pushing the 10-yr yield lower by three basis points to 2.48%.
9:45 am: [BRIEFING.COM] The major averages slumped out of the gate with the consumer discretionary sector (-1.0%) leading the slide due to an 11.1% loss in the shares of Amazon.com (AMZN 319.00, -39.61) after the retailer reported disappointing results for the quarter.

The discretionary space is a clear laggard, while other cyclical sectors like energy (-0.5%) and technology (-0.4%) also display notable losses. The energy sector trades in the red amid weakness in crude oil futures (-0.8% at $101.26/bbl), while the tech sector has been pressured by the likes of KLA-Tencor (KLAC 71.24, -1.78) and Visa (V 212.87, -9.87). The two hold respective losses of 2.6% and 4.1% after disappointing with their earnings (KLAC) or guidance (V).

On the upside, telecom services (+0.5%) and materials (+0.3%) sport slim gains.
9:16 am: [BRIEFING.COM] S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -20.30. The stock market is on track for a modestly lower open with futures on the S&P 500 trading six points below fair value. Nasdaq futures, meanwhile, underperform (-20 pts v fair value) due to noteworthy pre-market weakness in the shares of Amazon.com (AMZN 317.98, -40.63) after the online retail giant missed bottom-line estimates and forecast a wider than expected operating loss for Q3.

Similar to Amazon.com, KLA-Tencor (KLAC 69.67, -3.35), Visa (V 214.77, -7.97), and WellCare Health Plans (WCG 61.00, -15.85) are also indicated to start notably lower in reaction to disappointing earnings and/or guidance.

On the economic front, the durable orders report for June surpassed estimates (+0.7% versus Briefing.com consensus 0.3%), but shipments of goods declined 1.0%, which will be a negative for Q2 GDP.

Treasuries are on their highs with the 10-yr yield off two basis points at 2.49%.
9:00 am: [BRIEFING.COM] S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -18.50. The S&P 500 futures trade four points below fair value.

The major Asian markets ended the week on a higher note.
• In economic data:
o Japan's National CPI increased 3.6% year-over-year (previous 3.7%), while National Core CPI rose 3.3%, as expected. Separately, Tokyo CPI jumped 2.8% year-over-year (prior 3.0%) and Tokyo Core CPI climbed 2.8% (consensus 2.7%, prior 2.8%)
o South Korea's Consumer Confidence slipped to 105 from 107
o New Zealand's ANZ Business Confidence slipped to 39.7% from 42.8%
o Singapore's Industrial Production rose 0.4% year-over-year (expected 1.3%, previous -1.9%)
------
• Japan's Nikkei rose 1.1%, closing at a six-month high. Robotics maker Fanuc climbed 5.3% after providing a strong outlook.
• Hong Kong's Hang Seng added 0.3%, finishing at its best level since April 2011. Retail-related names were strong with Belle International and China Resources Enterprises tacking on 4.9% and 2.0%, respectively.
• China's Shanghai Composite added 1.0%, gaining for a fourth straight day and ending at levels last seen in the middle of April. Financials saw solid gains with Agricultural Bank of China up 2.1% and Industrial & Commercial Bank of China higher by 1.2%.
Major European indices trade mostly lower, while Spain's IBEX (+0.5%) outperforms. In Ukraine, Volodymyr Hroisman was appointed acting prime minister following Arseniy Yatseniuk's resignation. Mr. Hroisman was previously the Deputy Prime Minister

• Participants received several data points:
o Eurozone M3 Money Supply increased 1.5% year-over-year (expected 1.1%, previous 1.0%), but Private Loans fell 1.7% year-over-year (consensus -1.8%, prior -2.0%)
o Germany's Ifo Business Climate Index fell to 108.0 from 109.7 (expected 109.4) as Current Assessment slipped to 112.9 from 114.8 (consensus 114.5) and Business Expectations ticked down to 103.4 from 104.8 (expected 104.5). Separately, GfK Consumer Climate ticked up to 9.0 from 8.9 (expected 8.9)
o Great Britain's GDP rose 0.8% quarter-over-quarter, while the year-over-year reading increased 3.1%. Separately, Index of Services rose 1.0%. All three figures matched expectations
o Italy's Wage Inflation came in at 0.1% month-over-month (previous 0.1%)
o Spain's PPI rose 0.4% year-over-year (previous -0.4%)
------

• Great Britain's FTSE is lower by 0.1% with British Sky Broadcasting leading the slide. The stock is lower by 5.0% after the company announced the acquisitions of Sky Italia and Sky Deutschland. Royal Bank of Scotland outperforms with a gain of 13.7% after reporting upbeat earnings.
• Germany's DAX holds a loss of 0.6% with 20 of 30 components in the red. Health care names lag with Bayer and Henkel down 1.0% and 1.5%, respectively. On the upside, Commerzbank is higher by 2.5%.
• In France, the CAC is lower by 0.9%. Consumer name LVMH Moet Hennessy has tumbled 6.7% in reaction to disappointing results. Financials outperform with BNP Paribas and Credit Agricole up 0.9% and 1.6%, respectively.
• Spain's IBEX outperforms with a gain of 0.5% amid strength in bank shares. Banco Popular, CaixaBank, and Banco Santander are up between 0.8% and 3.3%.
8:32 am: [BRIEFING.COM] S&P futures vs fair value: -4.40. Nasdaq futures vs fair value: -15.80. The S&P 500 futures trade four points below fair value.

June durable goods orders rose 0.7%, which was better than the 0.3% increase expected among economists polled by Briefing.com. This comes after the prior month's revised reading reflected a decrease of 1.0% (from -0.9%). Excluding transportation, durable orders increased 0.8% (consensus 0.7%) to follow the prior month's revised decrease of 0.1% (from 0.0%).
8:05 am: [BRIEFING.COM] S&P futures vs fair value: -4.40. Nasdaq futures vs fair value: -15.50. U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures hover four points below fair value, while Nasdaq futures underperform (-16 pts v fair value) as Amazon.com (AMZN 321.91, -36.20) weighs after reporting earnings.

Reviewing overnight developments:
• Asian markets posted gains. Hong Kong's Hang Seng +0.3%, China's Shanghai Composite +1.0%, and Japan's Nikkei +1.1%
o In economic data:
 Japan's National CPI increased 3.6% year-over-year (previous 3.7%), while National Core CPI rose 3.3%, as expected. Separately, Tokyo CPI jumped 2.8% year-over-year (prior 3.0%) and Tokyo Core CPI climbed 2.8% (consensus 2.7%, prior 2.8%)
 South Korea's Consumer Confidence slipped to 105 from 107
 New Zealand's ANZ Business Confidence slipped to 39.7% from 42.8%
 Singapore's Industrial Production rose 0.4% year-over-year (expected 1.3%, previous -1.9%)
o In news:
 Markets in Asia took the release of Japan's CPI data in stride with the dollar/yen pair also not showing much movement in reaction to the release
• Major European indices trade mostly lower. Great Britain's FTSE -0.1%, Germany's DAX -0.4%, and France's CAC -0.7%. Elsewhere, Italy's MIB -0.3% and Spain's IBEX +0.5%
o Participants received several data points:
 Eurozone M3 Money Supply increased 1.5% year-over-year (expected 1.1%, previous 1.0%), but Private Loans fell 1.7% year-over-year (consensus -1.8%, prior -2.0%)
 Germany's Ifo Business Climate Index fell to 108.0 from 109.7 (expected 109.4) as Current Assessment slipped to 112.9 from 114.8 (consensus 114.5) and Business Expectations ticked down to 103.4 from 104.8 (expected 104.5). Separately, GfK Consumer Climate ticked up to 9.0 from 8.9 (expected 8.9)
 Great Britain's GDP rose 0.8% quarter-over-quarter, while the year-over-year reading increased 3.1%. Separately, Index of Services rose 1.0%. All three figures matched expectations
 Italy's Wage Inflation came in at 0.1% month-over-month (previous 0.1%)
 Spain's PPI rose 0.4% year-over-year (previous -0.4%)
o Among news of note:
 In Ukraine, Volodymyr Hroisman was appointed acting prime minister following Arseniy Yatseniuk's resignation. Mr. Hroisman was previously the Deputy Prime Minister
In U.S. corporate news:


• Amazon.com (AMZN 321.91, -36.20): -10.2% after missing bottom-line estimates and issuing cautious guidance
• Baidu (BIDU 220.03, +15.76): +7.7% after beating earnings estimates and guiding Q3 revenue higher
• KLA-Tencor (KLAC 68.26, -4.76): -6.5% missed earnings expectations
• LogMeIn (LOGM 44.80, +4.56): +11.3% after beating estimates and guiding higher
• Pandora Media (P 26.02, -2.70): -9.4% despite beating by one cent and guiding Q3 revenue above consensus
• Starbucks (SBUX 78.70, -1.75): -2.2% despite reporting a one-cent beat
• Visa (V 217.00, -5.74): -2.6% after beating earnings estimates and lowering its guidance
The Durable Orders report (Briefing.com consensus 0.3%) will be released at 8:30 ET.

6:53 am: [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -18.50.
6:53 am: [BRIEFING.COM] Nikkei...15457.87...+173.50...+1.10%. Hang Seng...24216.01...+74.50...+0.30%.
6:53 am: [BRIEFING.COM] FTSE...6813.11...-8.40...-0.10%. DAX...9745.55...-48.50...-0.50%.

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
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr