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 Thu Mar 28, 2024 10:32 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: August 7th Thursday Trade Results - Profit $5180.00
PostPosted: Fri Aug 08, 2014 12:12 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
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:
080714-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+5180.00.png
080714-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+5180.00.png [ 174.67 KiB | Viewed 316 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1,930.00 dollars or +19.30 points, Emini ES ($ES_F) futures @ $3,250.00 dollars or +65.00 points, Light Crude Oil CL ($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 @ $5,180.00 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=133&t=1858

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=244&t=2455

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

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: Another Down Day On Wall St

Attachment:
080714-Key-Price-Action-Markets.png
080714-Key-Price-Action-Markets.png [ 1.09 MiB | Viewed 334 times ]

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

NEW YORK (CNNMoney)
Investors pushed pause. Then they hit rewind.

The big indexes -- the Dow, the S&P 500 and the Nasdaq -- all started the day in positive territory, but ended the day in the red. The Dow closed down 75 points, or 0.46%. The Dow is more than 1% lower since the start of August.

More stock market jitters: In another sign of stock market queasiness, yields on 10-year U.S. Treasury notes are the lowest they've been in more than a year. Bond yields fall when prices rise, meaning more people are buying this "safe haven" investment.

"The 10-year speaks volumes about both the risk-off nature of our trade lower and the sense that our recovery remains void of the risk component that normally is present in a recovery," wrote Peter Kenny, chief market strategist for the Clearpool Group, in an email.

The announcement of potential military air drops in Iraq might be helping spook markets, as have a number of other geopolitical rumblings in recent days. The latest news about Russia's ban on foreign foods might also be having a small impact.

CNNMoney's veteran markets writer Paul R. La Monica offer tips on how to invest wisely in a scary market.

Related: How to stay safe in a scary market

Here are the top talking points of the day:

1) Burger bounce: Jack in the Box and Wendy's both reported their quarterly earnings, and the results are mixed. Jack in the Box (JACK), up 10%, surpassed expectations for revenue and earnings. A particularly bright spot is its burrito brand Qdoba, where Jack is squeezing more sales out of fewer stores.

Wendy's (WEN) was up less than 2% after its results showed that sales were good but profits that weren't quite what Wall Street wanted. Both companies reported same-store sales growth, a sign that more people are coming into their stores. At Jack in the Box, Qdoba sales grew three times faster than the rest of the company.

2) Adidas reports big drop in golf sales: Global sportswear giant Adidas (ADDDF) reported quarterly results that fell just short of analyst estimates, with better sales numbers overall, but shrinking profits and margins. Notably, its TaylorMade and Adidas Golf sales are down more than a fifth from the same period last year. Adidas shares fell 5%.

Related: Three reasons golf is in the rough

Video - Not all golf stocks in water hazard

3) Netflix binges on revenue: Netlfix (NFLX, Tech30) now has more subscriber revenue than HBO. Netflix CEO Reed Hastings wrote in a Facebook post yesterday: "They still kick our ass in profits and Emmy's, but we are making progress." Netflix shares rose 4.5%.

Related: Netflix has HBO in its sights

4) Break-up boost for Fox: Shareholders are happy that Twenty-First Century Fox (FOXA) has squashed any potential deal to buy Time Warner (TWC) (the parent company of CNN and CNNMoney). Rupert Murdoch reiterated Wednesday that the decision to walk away from the deal is "resolute."

Fox shares climbed 5% higher today, which is on top of the gains it registered when it first said it withdrew its $80 billion bid. Time Warner shares fell 3%.

Related: Fox says "We are done" with Time Warner

5) Overseas markets -- Europe goes negative: It was a negative day in Europe despite the fact that the European Central Bank left interest rates unchanged and reiterated its commitment to "do whatever it takes" to keep Europe's economy stable (though it fell short of announcing new asset purchases). The Euro Stoxx 50 index finished about 1.2% lower, and the U.K.'s FTSE 100 dipped 0.6%. The Bank of England also left interest rates the same.

Asian stocks were broadly lower, though Japan's Nikkei snapped a brief losing streak with a 0.55% gain.

Image



4:15 pm: [BRIEFING.COM] The stock market ended the Thursday session on a lower note despite showing strength in the early going. The S&P 500 fell 0.6% with eight sectors registering losses.

Equities climbed out of the gate after the European Central Bank reaffirmed its commitment to the current policy course. In addition, better than expected earnings and economic data also factored into an upbeat start.

Despite the set of positive factors, the S&P 500 could not overtake its opening high at 1928.97. Instead, the index spent about an hour near that level before retreating into the red. An afternoon report from the New York Times concerning potential U.S. airstrikes on militants in Iraq contributed to keeping dip-buyers sidelined.

As a result, the S&P 500 ended the session below its 100-day moving average (1913/1914), while the Dow Jones Industrial Average (-0.5%) settled just above its 200-day moving average (16343) after crossing that level for the first time since February 6.

The health care sector (-1.2%) ended at the bottom of the leaderboard amid weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 248.15, -3.67) lost 1.5% after being rejected by its 50-day moving average (251.88).

Other countercyclical sectors like consumer staples (-0.8%) and telecom services (-1.0%) also underperformed, while the utilities sector (+1.1%) displayed relative strength to narrow its week-to-date loss to 2.0%.

Meanwhile, all six cyclical groups posted losses with the materials space (-0.9%) having the worst showing. Similarly, the other commodity-related sector-energy (-0.7%)-also finished near the bottom of the leaderboard.

Elsewhere, the technology sector (-0.5%) ended just ahead of the S&P 500, but that was a bit misleading as the relative strength in two influential components-Apple (AAPL 94.48, -0.01) and Microsoft (MSFT 43.23, +0.49)-kept the sector from registering additional losses. Chipmakers, however, lagged broadly with the PHLX Semiconductor Index sliding 1.4%.

Also of note, the industrial sector ended little changed after showing relative weakness yesterday. Two heavily-weighted components, Boeing (BA 119.84, +1.50) and General Electric (GE 25.50, +0.06), contributed to the outperformance, while the broader PHLX Defense Index shed 0.1%. Transport stocks displayed strength during the session, but the Dow Jones Transportation Average (-0.2%) slipped into the red during afternoon action.

The retreat in equities boosted the Treasury market, where the 10-yr note added half a point to lower its yield six basis points to 2.41%. This represented the lowest close for the benchmark yield since June 2013. The safe-haven demand was also visible in the foreign exchange market, where the yen jumped and pressured the dollar/yen pair into the 102.00 area.

Participation was below average with fewer than 660 million shares changing hands at the NYSE.

Economic data was limited to weekly initial claims and the Consumer Credit report for June:

Initial claims declined to 289,000 from 303,000, while the Briefing.com consensus expected a reading of 308,000
Even though claims have held below the 300,000 mark over the past four weeks that has not translated into payroll growth in the neighborhood of 300,000 jobs per month, which had been the case in the past
Since the relationship hasn't held up, it appears the data has been skewed by seasonal adjustments or monthly volatility in the payroll data. If payroll volatility is the issue, we should see a surge in the August jobs report
Consumer credit increased by $17.30 billion in June, which was higher than the Briefing.com consensus estimate of $15.80 billion
The prior month's credit growth was left unrevised at $19.60 billion

Tomorrow, productivity (Briefing.com consensus 1.4%) and unit labor costs (consensus 2.0%) data for the second quarter will be released at 8:30 ET, while the Wholesale Inventories report for June (consensus 0.4%) will be reported at 10:00 ET.

S&P 500 +3.3% YTD
Nasdaq Composite +3.8% YTD
Dow Jones Industrial Average -1.3% YTD
Russell 2000 -3.8% YTD

3:30 pm: [BRIEFING.COM]

Dec gold extended yesterday's gains despite strength in the dollar index. The yellow metal brushed a session low of $1303.20 per ounce in early morning action but climbed above the unchanged line later in the session. It touched a session high of $1315.50 per ounce and settled at $1312.60 per ounce, or 0.3% higher.
Sep silver chopped around in negative territory for most of today's floor session. It dipped as low as $19.88 per ounce and settled with a 0.2% loss at $19.99 per ounce.
Sep crude oil dipped to a session low of $96.57 per barrel in morning pit trade but quickly recovered into positive territory. It touched a session high of $97.48 per barrel and settled at $97.34 per barrel, booking a 0.4% gain.
Sep natural gas rose to a session high of $3.98 per MMBtu in morning action but gave up the gain after inventory data showed a build of 82 bcf when a build of 83-84 bcf was anticipated. It fell as low as $3.86 per MMBtu and settled with a 1.3% loss at $3.88 per MMBtu.

3:05 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.5% with one hour remaining in the session.

The Consumer Credit report for June was just released by the Federal Reserve and it showed that consumer credit increased by $17.30 billion. That was higher than the Briefing.com consensus estimate of $15.80 billion. The prior month's credit growth was left unrevised at $19.60 billion.

2:30 pm: [BRIEFING.COM] The S&P 500 (-0.4%) remains modestly lower with the Thursday session nearing the end.

Today represents the last busy day of the Q2 reporting period, which has been better than expected. The S&P 500 has experienced 9.9% year-over-year growth in operating earnings per share for the second quarter, versus a 6.6% increase that was expected on July 1, according to S&P Capital IQ.

Media and technology names will be in focus this evening with CBS (CBS 57.14, -0.51), News Corp (NWSA 17.42, -0.21), Lions Gate Entertainment (LGF 30.34, -0.52), and NVIDIA (NVDA 17.51, -0.13) set to report their results.

2:00 pm: [BRIEFING.COM] Recent action saw the S&P 500 narrow its loss to 0.2%. Once again, the 100-day moving average (1913/1914) has acted as an area of support for the benchmark index and the S&P 500 is now back above that noteworthy level.

The S&P 500 has spent the majority of the week near its 100-day average with Tuesday's session low less than a point above the 100-day average. Yesterday, the index dipped below the momentum indicator, but managed to end the session roughly seven points above that level.

Elsewhere, the Dow Jones Industrial Average (-0.2%) marked a session low just above its 200-day moving average (16343).

1:25 pm: [BRIEFING.COM] The major indices are trying to work their way back from larger losses, but remain stuck in negative territory.

An earlier headline suggesting the White House was considering air strikes against militants in Iraq added to the market's geopolitical angst; however, a recent clarification from the White House that all options are on the table with regard to Iraq has taken just a bit of the headline edge off since that view is inclusive of non-military action.

Nonetheless, the disappointing price action today continues to keep buyers sidelined and has made rebound efforts an arduous task.

Separately, the 10-yr note yield has dropped four basis points today to 2.433%. If it settles there, it would be the lowest close since June 2013.

1:00 pm: [BRIEFING.COM] The major averages hold midday losses with the S&P 500 trading lower by 0.4%. Eight of ten sectors sit in the red, while industrials (+0.2%) and utilities (+0.9%) outperform.

This morning, the stock market appeared to be on track for an upbeat session after the European Central Bank made no changes to its policy stance. In addition, participants received some positive economic data in the form of the weekly Initial Claims report (289K versus Briefing.com consensus 308K).

Despite the higher start, the S&P 500's opening high (1928.97) proved to be an area of heavy resistance, which could not be breached despite an hour of sideways action just below that level. This invited a wave of selling that has sent the benchmark index back below its 100-day moving average (1913/1914).

Furthermore, an afternoon report from the New York Times concerning potential airstrikes on militants in Iraq has not helped matters.

Overall, countercyclical sectors are today's biggest laggards with consumer staples (-0.9%), health care (-1.0%), and telecom services (-0.9%) all down near 1.0%. However, the fourth defensively-oriented sector, utilities, outperforms thanks to better than expected earnings from several components. Most notably, Duke Energy (DUK 70.27, +0.43) is higher by 0.6% in reaction to its bottom-line beat.

On the cyclical side, the industrial sector underperformed yesterday, but has spent the first half of today's session in the green. Transport stocks displayed early strength, but the Dow Jones Transportation Average (-0.1%) has surrendered its gain. Defense contractors, meanwhile, remain strong. The PHLX Defense Index is higher by 0.2% with Boeing (BA 119.76, +1.42) trading higher by 1.2%.

Elsewhere, the top-weighted sector-technology-has endured broad weakness that has not spared many influential components. Apple (AAPL 94.88, +0.40) and Microsoft (MSFT 43.24, +0.50) are two exceptions, trading higher by 0.4% and 1.2%, respectively.

Treasuries hold midday gains with the 10-yr yield down four basis points at 2.44%.

Economic data was limited to weekly initial claims, which declined to 289,000 from 303,000, while the Briefing.com consensus expected a reading of 308,000. Even though claims have held below the 300,000 mark over the past four weeks that has not translated into payroll growth in the neighborhood of 300,000 jobs per month, which had been the case in the past. Since the relationship hasn't held up, it appears the data has been skewed by seasonal adjustments or monthly volatility in the payroll data. If payroll volatility is the issue, we should see a surge in the August jobs report.

The Consumer Credit report for June (Briefing.com consensus $15.80 billion) will be released at 15:00 ET.

12:30 pm: [BRIEFING.COM] The S&P 500 (-0.4%) has notched a fresh low after an unsuccessful rebound attempt. Eight of ten sectors trade in the red with losses between 0.2% (consumer discretionary and technology) and 0.9% (telecom services), while industrials (+0.3%) and utilities (+0.9%) remain in the green.

Outside of the opening spike, buyers have been reluctant to step in, and recent reports from the New York Times have done little to improve the sentiment. Specifically, President Obama is reportedly considering airstrikes or emergency airdrops to aid religious minorities that have been trapped in Iraqi mountains.

In one of our previous updates we mentioned that the early weakness has not invited demand for downside protection, but that has changed over the past hour. The CBOE Volatility Index (VIX 16.65, +0.28) is now at a fresh session high.

12:00 pm: [BRIEFING.COM] Not much let-up to the selling pressure that has sent the S&P 500 (-0.4%) to a fresh low for the day. In our last update we mentioned that the defensive sentiment has given a boost to the Japanese yen, which has extended its advance. The dollar/yen pair is now nearing the 102.00 area.

Elsewhere, gold futures and Treasuries have spiked to new highs for the day, which is consistent with defensive posturing among participants. The 10-yr note is now higher by 12 ticks with its yield down four basis points at 2.43%, while gold futures trade up 0.4% at $1313.00/ozt.

In other commodities, crude oil (-0.1% at $96.81/bbl) and silver (-0.1% at $20.02/ozt) are both little changed.

11:30 am: [BRIEFING.COM] The S&P 500 (-0.1%) remains near its recently-established low, while the Russell 2000 (-0.3%) underperforms.

The broad slide that sent the major averages from highs to lows was not unique to U.S. equities as markets across Europe also retreated into the closing bell. Similarly, the cautious sentiment has also made itself known in the foreign exchange market where the yen has been on the rise. Currently, the dollar/yen pair hovers just above its overnight low at 102.18.

Despite the recent slip, participants have not shown strong demand for volatility protection with the CBOE Volatility Index (VIX 15.85, -0.52) slipping below the 16.00% mark.

10:55 am: [BRIEFING.COM] The S&P 500 (-0.1%) has slipped to a new low after being unable to break through its opening high at 1928.97. Cyclical sectors displayed broad strength at the open, but a handful of those groups have slid from their opening levels.

On that note, financials (-0.1%), energy (-0.2%), and materials (-0.2%) underperform, while technology (+0.1%), and industrials (+0.4%) continue showing relative strength.

Meanwhile, the countercyclical side has also deteriorated a bit with consumer staples (-0.5%) and health care (-0.5%) weighing on the broader market. Biotechnology has contributed to the underperformance of health care with the iShares Nasdaq Biotechnology ETF (IBB 250.71, -1.11) down 0.4%.

Also of note, Treasuries have returned to their early highs, sending the 10-yr yield lower by two basis points to 2.45%.

10:35 am: [BRIEFING.COM]

Commodities are mixed this morning with energy higher, metals mostly higher and agriculture futures mostly lower
Natural gas rallied this morning ahead of the weekly EIA inventory data this morning
Nat gas rallied from $3.92 to $3.98 and was sitting just under its HoD just ahead of the data
Following the data, Sept nat gas initially dropped to a new LoD, but is now +0.8% at $3.96/MMBtu
Crude oil rallied almost $1/barrel off its LoD earlier this morning, but it has since erased those gains and is now +0.1% at $97.02/barrel
Gold and silver aren't doing much this morning
Dec gold is currently -0.1% at $1306.50/oz, while Sept silver is -0.3% at $19.96/oz
Sept copper has been trading higher and is now -0.4% at $3.18/lb

9:55 am: [BRIEFING.COM] Equity indices have ticked down from their best levels of the session with the S&P 500 narrowing its gain to 0.3%.

The technology sector (+0.4%) remains near its opening high, but other groups have inched lower since our opening update. On the countercyclical side, the utilities sector (+1.0%) is the lone advancer, while consumer staples (-0.1%), health care (-0.2%), and telecom services (-0.1%) have dipped into the red.

Also of note, the Dow Jones Transportation Average (+0.3%) has halved its gain, but the industrial sector (+0.6%) remains near its best level of the day.

9:40 am: [BRIEFING.COM] As expected, the stock market began the trading day on a positive note. The S&P 500 is higher by 0.4% with nine sectors showing early gains. Meanwhile, the lone decliner-health care-hovers right below its flat line.

On the upside, yesterday's laggard-industrials-began the day ahead of the remaining cyclical sectors. The growth-oriented group is higher by 0.7% with transports contributing to the early strength. The Dow Jones Transportation Average trades up 0.6% with 18 of its 20 components in the green.

Elsewhere, the top-weighted sector-technology-trades in line with the S&P 500.

Treasuries have erased their gains and the 10-yr yield is now flat at 2.48%.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +10.70. The stock market is on track for a higher open with the S&P 500 futures trading almost seven points above fair value. Index futures spent the entire overnight session in the green and rallied to new highs during the past 90 minutes after the European Central Bank announced no changes to its policy stance. In addition to the announcement, ECB President Draghi revealed during his press conference that the central bank has intensified preparations for purchases of asset-backed securities.

Domestically, economic data was limited to the weekly initial claims count, which declined to 289,000 from 303,000, but the report was a bit confusing. Even though claims have held below the 300,000 mark over the past four weeks that did not translate into payroll growth in the neighborhood of 300,000 jobs per month, which had been the case in the past. Since the relationship hasn't held up, it appears the data has been skewed by seasonal adjustments or monthly volatility in the payroll data. If volatility is the issue, it should lead to a surge in the August jobs report.

The final data point of the day-June Consumer Credit (Briefing.com consensus $15.80 billion)-will cross the wires at 15:00 ET.

On the earnings front, today is the last busy day of the Q2 reporting period, but reaction to the earnings has been isolated to individual issues. Notably, 21st Century Fox (FOXA 34.15, +1.82) is indicated to open higher by 5.6% after beating earnings and revenue estimates.

On the flip side, Thoratec (THOR 24.07, -8.50) has tumbled 26.0% in pre-market after missing revenue estimates and guiding full-year results below analyst expectations. The stock was downgraded at Credit Suisse and Goldman Sachs following the report.

Treasuries hold slim gains with the 10-yr yield down one basis point at 2.46%.

9:02 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +9.00. The S&P 500 futures trade five points above fair value.

Asian markets endured broad pressure, while Japan's Nikkei (+0.5%) outperformed. According to Reuters, Japan's Government Pension Investment Fund plans to invest up to 20% of its funds in domestic equities (currently 12%).

Economic data was limited:
Australia's Employment Change came in at -300 (expected 12,000; previous 14,900), while the Unemployment Rate jumped to 6.4% from 6.0% (expected 6.0%). Separately, AIG Construction Index rose to 52.6 from 52.0

------

Japan's Nikkei outperformed with an increase of 0.5% as trade snapped its five-day skid. FujiFilm was a top performer, up 5.4%, on word its U.S. partner, MediVector, has begun discussions to use its drug for treatment of Ebola.
Hong Kong's Hang Seng fell 0.8% to a two-week low. Casino shares were pressured as monthly gaming revenues weakened to their lowest levels in at least four years. Galaxy Entertainment and Sands China tumbled 6.4% and 5.8%, respectively, leading to the downside.
China's Shanghai Composite slumped 1.3% to a one-week low. Financials were weak across the board as Industrial & Commercial Bank of China fell 1.7% and Citic Securities lost 2.9%.

Major European indices trade lower across the board. Regional indices held near their flat lines, but dropped after the ECB announced no changes to its monetary policy. On a separate note, Russian Prime Minister Dmitry Medvedev said the government will review the use of transportation air routes and consider banning EU and US flights through the Russian airspace.

In economic data:
The European Central Bank made no changes to its policy, keeping all three rates unchanged.
The Bank of England also maintained its policy stance and kept the key rate and the purchasing program unchanged at 0.5% and GBP375 billion, respectively
Germany's Industrial Production ticked up 0.3% month-over-month (expected 1.3%; previous -1.7%)
France's Trade Deficit widened to EUR5.40 billion from EUR5.10 billion (expected deficit of EUR4.80 billion)
Spain's Industrial Production rose 0.8% year-over-year (expected 3.0%; previous 2.5%)

------

In France, the CAC is lower by 0.8%. Telecom service provider Orange is the weakest component, down 1.9%. Software company Cap Gemini outperforms with an increase of 1.4%.
Germany's DAX holds a loss of 0.5%. Adidas is the weakest performer, down 4.6%. Commerzbank leads with a gain of 2.0% after reporting earnings. Deutsche Bank follows not far behind with an advance of 2.3%.
Great Britain's FTSE trades down 0.1%. Discretionary names outperform with Carnival and G4S up 1.9% and 2.6%, respectively. Coca-Cola HBC weighs, trading lower by 3.4% in reaction to its cautious outlook.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +9.30. Nasdaq futures vs fair value: +16.20. The S&P 500 futures trade nine points above fair value.

The latest weekly initial jobless claims count totaled 289,000, while the Briefing.com consensus expected a reading of 308,000. Today's tally was below the revised prior week count of 303,000 (from 302,000). As for continuing claims, they fell to 2.518 million from 2.542 million.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +3.50. U.S. equity futures trade modestly higher despite cautious action overseas. The S&P 500 futures hover three points above fair value after spending the entire night in positive territory. With just two economic data points on today's schedule, market participants have been reacting to quarterly reports as the busy portion of the reporting period draws to the close.

In notable U.S. corporate news:

21st Century Fox (FOXA 34.05, +1.72): +5.3% after beating on earnings and revenue
Molycorp (MCP 2.30, +0.26): +12.8% after securing a $400 million financing agreement. Separately, the company reported below-consensus earnings and revenue for the second quarter
Thoratec (THOR 23.00, -9.57): -29.1% after missing revenue estimates and guiding full-year results below analyst expectations. The stock was downgraded at Credit Suisse and Goldman Sachs following the report
YY (YY 81.20, -1.55): -1.9% after beating on both metrics and guiding higher
Windstream (WIN 11.11, -0.44): -3.8% after missing earnings estimates and reaffirming its guidance

Treasuries hold modest gains with the 10-yr yield down two basis points at 2.45%.

Weekly initial claims (Briefing.com consensus 308K) will be released at 8:30 ET, while the Consumer Credit report for June (consensus $15.80 billion) will cross the wires at 15:00 ET.

Reviewing overnight developments:

Asian markets ended mostly lower. Hong Kong's Hang Seng -0.8%, China's Shanghai Composite -1.3%, and Japan's Nikkei +0.5%
Economic data was limited:
Australia's Employment Change came in at -300 (expected 12,000; previous 14,900), while the Unemployment Rate jumped to 6.4% from 6.0% (expected 6.0%). Separately, AIG Construction Index rose to 52.6 from 52.0
In news:
China's Shanghai Composite underperformed amid profit taking after a big run. The index entered the session with a 7.9% advance over the past three weeks. Also of note, Fitch commented on the property sector, saying speculation could re-emerge after credit standards were loosened.

Major European indices trade mostly lower. Great Britain's FTSE -0.2%, France's CAC -0.4%, and Germany's DAX is unchanged. Elsewhere, Italy's MIB +0.5% and Spain's IBEX -0.4%
In economic data:
The European Central Bank made no changes to its policy, keeping all three rates unchanged.
The Bank of England also maintained its policy stance and kept the key rate and the purchasing program unchanged at 0.5% and GBP375 billion, respectively
Germany's Industrial Production ticked up 0.3% month-over-month (expected 1.3%; previous -1.7%)
France's Trade Deficit widened to EUR5.40 billion from EUR5.10 billion (expected deficit of EUR4.80 billion)
Spain's Industrial Production rose 0.8% year-over-year (expected 3.0%; previous 2.5%)
Among news of note:
Russian Prime Minister Dmitry Medvedev said the government will review the use of transportation air routes and consider banning EU and US flights through the Russian airspace.

6:53 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +1.50.

6:53 am: [BRIEFING.COM] Nikkei...15232.37...+72.60...+0.50%. Hang Seng...24387.56...-196.60...-0.80%.

6:53 am: [BRIEFING.COM] FTSE...6625.44...-10.70...-0.10%. DAX...9122.85...-7.20...-0.10%.

Bloomberg

http://www.bloomberg.com/news/2014-08-0 ... eport.html

http://www.bloomberg.com/news/2014-08-0 ... raine.html

http://www.bloomberg.com/news/2014-08-0 ... gains.html

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