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 Post subject: August 14th Thursday Trade Results - Profit $550.00
PostPosted: Thu Aug 14, 2014 10:49 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $550.00 dollars or +5.50 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $550.00 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=1863

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

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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.

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



4:15 pm: [BRIEFING.COM] The major averages posted modest gains on Thursday with the S&P 500 (+0.4%) extending its week-to-date advance to 1.2%. Small caps lagged throughout the session as the Russell 2000 (+0.2%) was unable to reclaim its 200-day moving average (1145).

Despite receiving disappointing economic data from overseas (Eurozone GDP 0.0%; expected 0.1%), equity indices climbed out of the gate with yesterday's leading sector-health care-pacing the advance. The third-largest sector added 1.2% with help from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 261.20, +4.07) settled higher by 1.6% to extend its weekly gain to 3.8%.

The relative strength of biotechnology underpinned the Nasdaq Composite, but the tech-heavy index could not overtake the S&P 500 due to the underperformance of large cap technology names.

The tech sector (+0.1%) spent the entire session near its flat line as heavily-weighted components like Apple (AAPL 97.50, +0.26), Google (GOOGL 584.65, +0.09), IBM (IBM 187.88, -0.07), and Oracle (ORCL 40.22, -0.02) spun their wheels. Also of note, Cisco Systems (CSCO 24.54, -0.66) tumbled 2.6% with concerns about slow order growth overshadowing its better than expected earnings and revenue.

Chipmakers, however, finished a bit ahead of the sector with the PHLX Semiconductor Index adding 0.2%. Avago (AVGO 73.84, +1.87) outperformed, climbing 2.6% after agreeing to sell LSI's Axxia Networking Business assets to Intel (INTC 33.94, -0.16) for $650 million.

Elsewhere among cyclical sectors, the consumer discretionary space (+0.8%) outperformed despite losses in the quick-service restaurant space after Red Robin Gourmet Burgers (RRGB 52.63, -11.92) and Noodles & Co (NDLS 21.16, -4.06) reported disappointing results. The two sank 18.5% and 16.1%, respectively, while the discretionary sector drew strength from homebuilders and retailers. The iShares Dow Jones US Home Construction ETF (ITB 23.04, +0.38) and SPDR S&P Retail ETF (XRT 85.36, +0.84) settled higher by 1.7% and 1.0%, respectively.

Switching to the countercyclical side, the utilities sector (+1.0%) followed not far behind health care, while consumer staples (+0.4%) and telecom services (+0.4%) ended right behind the S&P 500. In the staples sector, Wal-Mart (WMT 74.39, +0.36) added 0.5% after reporting in-line results and lowering its guidance for the full year.

Treasuries rallied overnight and the 10-yr note notched its high just ahead of the open before surrendering about half of its gain during the session. The benchmark 10-yr yield fell three basis points to 2.40%.

Participation was well below average with just 506 million shares changing hands at the NYSE floor, which represented the lowest total of the year.

Economic data was limited to initial claims and import/export prices:

The initial claims increased to 311,000 from an upwardly revised 290,000 (from 289,000), while the Briefing.com consensus expected an increase to 305,000
Over the past several weeks, the initial claims level had averaged below 300,000, which normally signals an economy at or near full employment
If the current levels hold for several weeks, the summer drop will be written off as resulting from poor seasonal adjustments, but if the return above the 300,000 mark is a one-time event, that will be a sign of health from the labor market
Export prices, excluding agriculture, increased 0.3% in July after decreasing 0.3% in the prior reading
Excluding oil, import prices were unchanged, which followed last month's downtick of 0.1%

Tomorrow, the PPI report for July (Briefing.com consensus 0.2%) and the Empire Manufacturing survey for August (consensus 15.5) will be released at 8:30 ET, while the Net Long-Term TIC Flows report will cross the wires at 9:00 ET. July Industrial Production (consensus 0.3%) and Capacity Utilization (expected 79.2%) will be announced at 9:15 ET, while the preliminary reading of the Michigan Sentiment survey for August (consensus 81.7) will be reported at 9:55 ET.

Nasdaq Composite +6.6% YTD
S&P 500 +5.8% YTD
Dow Jones Industrial Average +0.8% YTD
Russell 2000 -1.7% YTD

3:30 pm: [BRIEFING.COM]

Dec gold popped to a session high of $1321.80 per ounce in early morning trade following economic data that showed the initial claims increased to 311K from an upwardly revised 290K (from 289K) while the Briefing.com consensus expected an increase to 305K.
However, the yellow metal quickly retreated towards the unchanged line where it chopped around until it settled just 50 cents higher at $1315.20 per ounce.
Sep silver spent most of today's session in positive territory, rising as high as $19.99 per ounce. It eventually settled with a 0.3% gain at $19.90 per ounce.
Sep crude oil trended lower in negative territory today after pulling back from a session high of $97.38 per barrel set at floor trade open. Unable to find buying interest, it fell as low as $95.28 per barrel and settled with a 2.1% loss at $94.54 per barrel.
Sep natural gas, on the other hand, rallied to a session high of $3.95 per MMBtu on better-than-anticipated inventory data. The EIA reported that for the week ending Aug 8, inventories showed a build of 78 bcf when a build of 81-83 bcf was expected.
It spent the remainder of the session trading slightly below the session high and settled at $3.90 per MMBtu, or 2.1% higher.

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.4% with one hour remaining in the session. Market participants received a few quarterly reports since yesterday's close, including results from Cisco (CSCO 24.57, -0.63) and Wal-Mart (WMT 74.32, +0.29).

Once today's session ends, investors will receive results from 14 companies covered by Briefing.com. Retailers will be in focus with Nordstrom (JWN 68.37, +0.25) and J.C. Penney (JCP 9.65, +0.30) both appearing on the schedule. The Capital IQ consensus expects Nordstrom to report earnings of $0.95 versus $0.93 a year ago, while J.C. Penney is expected to report a loss of $0.95 after seeing a $1.17 loss a year ago.

Tomorrow morning, Estee Lauder (EL 76.00, +0.85) and JD.com (JD 30.09, -0.38) will report their results ahead of the open.

2:30 pm: [BRIEFING.COM] The S&P 500 (+0.3%) remains near its best level of the session with eight sectors showing gains, while the two commodity-related sectors-energy (-0.5%) and materials (-0.1%)-hover in the red.

Including today's advance, the benchmark index is now higher by 1.1% for the week. This puts the S&P 500 in the middle of the pack as the Dow Jones Industrial Average and Russell 2000 hold respective weekly gains of 0.8% and 1.0%, while the Nasdaq has outperformed with a 1.7% advance so far this week.

With respect to individual sectors, today's leader-health care-has paced this week's rally by climbing 1.9%, while the energy sector has surrendered 1.0% since last Friday.

2:00 pm: [BRIEFING.COM] Not much change in the market with the major averages holding near their highs. Even though the market remains bid, the energy sector has dropped to a new low and now holds a loss of 0.5%.

The cyclical group has lagged throughout the week and today's decline has widened its week-to-date loss to 0.9%. For its part, crude oil has continued its daylong slide and now trades down 1.9% at $95.72/bbl.

On the flip side, the utilities sector (+0.9%) has joined health care (+0.9%) in the lead.

1:30 pm: [BRIEFING.COM] The S&P 500 (+0.4%) has climbed to a fresh high, while the technology sector (+0.1%) has made its way into the green after holding a slim loss during the first half of action.

Despite the uptick into the green, the tech sector remains pressured by some large cap components. Google (GOOGL 583.68, -0.88), IBM (IBM 187.82, -0.13), and Intel (INTC 33.92, -0.18) are down between 0.1% and 0.5%, while Cisco Systems (CSCO 24.61, -0.59) remains down 2.4% after notching a low just above its 100-day moving average (24.26).

Also of note, the Treasury has concluded a $16 billion 30-yr bond auction, which was on the strong side, drawing a yield of 3.224% with a bid/cover ratio of 2.60x coming in above the 12-auction average (2.38x). Direct (24.4%) and indirect (45.9%) bidders showed strong demand, leaving primary dealers with 29.7% of the supply.

The benchmark 10-yr yield is lower by two basis points at 2.41%.

12:55 pm: [BRIEFING.COM] The major averages hold modest midday gains with the S&P 500 (+0.3%) trading within five points of its 50-day moving average (1957). Small caps have had a difficult time keeping pace so far as the Russell 2000 (+0.1%) sits just above its flat line.

The benchmark index has spent the entire first half of the session in the green with yesterday's leading sector-health care-providing support once again. The third-largest group sports an advance of 0.9% with biotechnology factoring into the strength. The iShares Nasdaq Biotechnology ETF (IBB 260.32, +3.19) is higher by 1.2%, extending this week's advance to 3.5%.

Yesterday's session was also underpinned by the technology sector, but today, the group sits at the bottom of the leaderboard with a slim loss of 0.1%. Large cap components weigh with Cisco Systems (CSCO 24.57, -0.63) holding a loss of 2.5% as concerns about slow order growth overshadow its better than expected earnings and revenue.

Elsewhere among cyclical sectors, the consumer discretionary space (+0.5%) outperforms despite weakness in quick-service restaurant names that resulted from disappointing earnings and/or guidance from Red Robin Gourmet Burgers (RRGB 51.05, -13.50) and Noodles & Co (NDLS 20.78, -4.38). The two names have tumbled 20.9% and 17.6%, respectively. The overall sector, however, has been able to stay ahead of the broader market thanks to strength among homebuilders and retailers. The iShares Dow Jones US Home Construction ETF (ITB 22.93, +0.27) has added 1.2%, while the SPDR S&P Retail ETF (XRT 85.36, +0.84) trades higher by 1.0%.

Treasuries rallied ahead of the opening bell, but have been sliding from their highs since then. The benchmark 10-yr yield is lower by one basis point at 2.42% after marking a low at 2.39%.

Economic data was limited to initial claims and import/export prices:

The initial claims increased to 311,000 from an upwardly revised 290,000 (from 289,000), while the Briefing.com consensus expected an increase to 305,000
Over the past several weeks, the initial claims level had averaged below 300,000, which normally signals an economy at or near full employment
If the current levels hold for several weeks, the summer drop will be written off as resulting from poor seasonal adjustments, but if the return above the 300,000 mark is a one-time event, that will be a sign of health from the labor market
Export prices, excluding agriculture, increased 0.3% in July after decreasing 0.3% in the prior reading
Excluding oil, import prices were unchanged, which followed last month's downtick of 0.1%

12:30 pm: [BRIEFING.COM] The S&P 500 (+0.3%) has returned to its session high, while the Russell 2000 (+0.1%) continues showing relative weakness.

Even though the benchmark index is back at its best level of the session, the technology sector (-0.1%) continues to weigh. Chipmakers, however, trade just behind the broader market with the PHLX Semiconductor Index up 0.3%. Avago (AVGO 73.59, +1.62) is the top performer, up 2.3% after agreeing to sell LSI's Axxia Networking Business assets to Intel (INTC 33.95, -0.15) for $650 million.

Elsewhere, another high-growth group-biotechnology-has extended its advance and the iShares Nasdaq Biotechnology ETF (IBB 259.99, +2.86) is now higher by 1.1%.

12:00 pm: [BRIEFING.COM] Quiet action continues with the S&P 500 trading within two points of its session high. The benchmark index has spent the better part of the past 90 minutes near its 20-day moving average (1953), while the 50-day average (1957) lurks not far above.

Although equities have not moved much in recent trade, crude oil has. The energy component has tumbled below short-term support in the $97.00/bbl area, and is now lower by 1.5% at $96.15/bbl. For its part, the energy sector (-0.1%) remains just below its flat line.

Elsewhere among commodities, gold and silver futures are little changed at $1313.30/ozt and $19.86/ozt, respectively.

11:30 am: [BRIEFING.COM] Equity indices continue respecting narrow ranges amid mixed performance in the top-weighted sectors.

The fourth-largest group-consumer discretionary (+0.4%)-was among the laggards not long ago, but now trades ahead of the broader market. Homebuilders and retailers have contributed to the outperformance as the iShares Dow Jones US Home Construction ETF (ITB 22.81, +0.15) trades up 0.7%, while the SPDR S&P Retail ETF (XRT 85.21, +0.69) sports an advance of 0.8%.

Quick-service restaurants, however, have bucked the trend following disappointing earnings from Red Robin Gourmet Burgers (RRGB 51.07, -13.48) and Noodles & Co (NDLS 19.99, -5.22). The two stocks are both down in excess of 20.0%.

11:00 am: [BRIEFING.COM] The major averages remain near their highs with the S&P 500 up 0.2%. Meanwhile, the Dow Jones Industrial Average (+0.1%) and Russell 2000 (+0.1%) hover a bit closer to their flat lines.

Not much change has taken place in the sector standing as health care (+0.7%) remains in the lead, while utilities (+0.6%) and financials (+0.3%) follow. Even though two of the three top-weighted sectors outperform, the market has to contend with weakness in the technology sector (-0.1%), which represents nearly 19.0% of the S&P 500.

On the fixed income side, Treasuries have slipped from their best levels of the day, but remain well above their flat lines. The 10-yr yield is lower by three basis points at 2.41%.

10:35 am: [BRIEFING.COM]

Natural gas futures rallied ahead of today's weekly EIA inventory data, sitting about 1% higher just ahead of it
Following this data, natural gas futures rallied to a new HoD on a smaller-than-expected build
Sept nat gas is now +1.9% at $3.90/MMBtu
Sept crude oil has been sliding lower today and just hit a new LoD.
In current action, Sept crude oil is -0.8% at $96.77/barrel
Dec gold is now back at the unchanged line again, now sitting at $1314.50/oz. Sept silver is +0.3% at $19.90/oz
Sept copper is -0.7% at $3.09/lb

9:55 am: [BRIEFING.COM] Equity indices remain near their opening levels with the S&P 500 trading higher by 0.2%.

The leading health care sector has extended its gain to 0.6%, while the technology sector (-0.2%) has slipped behind energy (-0.1%) to claim the bottom spot on the leaderboard. The tech sector lags amid weakness in large cap names. Most notably, Cisco Systems (CSCO 24.40, -0.79) holds a loss of 3.1% despite reporting better than expected results. Other influential tech names like Apple (AAPL 96.80, -0.44), Google (GOOGL 583.12, -1.44), and IBM (IBM 187.09, -0.86) are all down near 0.4% apiece.

Elsewhere, Treasuries have continued their advance, pressuring the 10-yr yield down to 2.39%, which puts the benchmark yield on track for its lowest close since mid-June 2013.

9:40 am: [BRIEFING.COM] The major averages climbed out of the gate with nine sectors showing early gains. The S&P 500 trades higher by 0.2% with yesterday's leading group-health care (+0.4%)-providing opening support once again.

For the second day in a row, biotechnology has rallied out of the gate with the iShares Nasdaq Biotechnology ETF (IBB 258.10, +0.98) higher by 0.4%.

Outside of the health care sector, heavily-weighted financials (+0.3%) and consumer discretionary (+0.3%) also began ahead of the broader market; however, the top-weighted technology sector trades flat and has the potential to move the market in either direction.

On the downside, the energy sector (-0.1%) holds a slim loss, while crude oil trades lower by 0.6% at $97.00/bbl.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +2.20. The stock market is on track for a slightly higher open with the S&P 500 futures trading fewer than two points above fair value. Index futures spent the bulk of the overnight session in the red, but rallied off their lows in the early morning with support from markets in Europe. The early rally took place despite a disappointing GDP reading from the eurozone (0.0% versus expected 0.1%), which was viewed as a reason for the European Central Bank to stick to its current policy stance or even consider additional easing measures.

Despite the early morning strength, futures have recently returned to their lows with the move taking place after today's initial claims report. After spending several weeks below the 300,000 level, initial claims increased to 311,000, while the Briefing.com consensus expected a reading of 305,000. If claims stay in the current range over the next few weeks, the sudden drop earlier in the summer can be written off as a result of poor seasonal adjustments. However, if this week's increase in claims is a one-time blip, then the labor market may be showing true signs of health.

The claims data gave a boost to Treasuries, sending the 10-yr note to a fresh high. The benchmark yield is now lower by three basis points at 2.40%.

On the earnings front, Wal-Mart (WMT 73.84, -0.19) and Cisco Systems (CSCO 24.97, -0.23) reported their results, but both names are little changed in pre-market action. Wal-Mart is indicated to open lower by 0.3% following its in-line earnings and lowered guidance for the full year, while Cisco holds a loss of 1.0% despite beating earnings and revenue estimates.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: +1.00. The S&P 500 futures trade one point above fair value.

The major Asian bourses ended on a mixed note. Bank of Korea cut its key rate 25 basis points to 2.25%, citing slow growth in domestic demand. Elsewhere, Bank Indonesia made no changes to its policy, keeping its key rate at 7.50%. Also of note, Japan's government downgraded its machinery orders assessment following the disappointing report for June.

On the economic front:
Japan's Core Machinery Orders jumped 8.8% month-over-month (expected 15.3%; previous -19.5%), while the year-over-year reading fell 3.0% (consensus 3.3%; prior -14.3%)
Australia's MI Inflation Expectations decreased to 3.1% from 3.8%
New Zealand's Retail Sales rose 1.2% quarter-over-quarter (expected 1.0%; last 0.8%), while Core Retail Sales also increased 1.2% (consensus 1.1%; prior 1.0%). Separately, Business PMI slipped to 53.0 from 53.4

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Japan's Nikkei rose 0.7%, gaining for a fourth straight session. A weaker yen supported exporters as Hitachi added 0.5% and Sony climbed 1.1%.
Hong Kong's Hang Seng shed 0.4%, easing off its best levels since November 2010. Heavyweight Tencent Holdings weighed as shares lost 2.3% despite the company posting better than expected quarterly results.
China's Shanghai Composite lost 0.7%, falling from eight-month highs. Real estate developers were pressured as Vanke and Gemdale lost 2.0% and 1.6%, respectively.

Major European indices trade higher across the board despite worse than expected GDP readings from Germany, France, and the eurozone. The slow growth has been viewed as a reason for the ECB to continue on its policy course or even lean towards additional easing. In France, the flat GDP reading was followed by Finance Minister Michel Sapin lowering the 2014 GDP target to 0.5% from 1.0%.

Participants received several data points:
Eurozone preliminary Q2 GDP was unchanged quarter-over-quarter (expected 0.1%; previous 0.2%), while the year-over-year reading increased 0.7%, as expected. Separately, CPI fell 0.7% month-over-month (expected -0.6%; prior 0.1%), while the year-over-year reading increased 0.4%, as expected. Core CPI increased 0.8% year-over-year, which also matched expectations
Germany's preliminary Q2 GDP contracted 0.2% (expected -0.1%; previous 0.7%), while the year-over-year reading increased 0.8% (consensus 1.5%; prior 2.5%)
French GDP was unchanged quarter-over-quarter (expected 0.1%; last 0.0%), while Nonfarm Payrolls increased 0.1% quarter-over-quarter (expected -0.1%; prior -0.1%)

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Germany's DAX is higher by 0.2% with Infineon Technologies in the lead. The stock trades higher by 1.7%. On the downside, K+S is the weakest performer, down 2.7%, despite beating earnings estimates.
In France, the CAC trades up 0.2% with 35 of its 40 components showing gains. Electricite de France leads with a gain of 3.9%, while BNP Paribas is among the laggards, down 1.0%.
Great Britain's FTSE has added 0.4%. TUI Travel sports an advance of 3.8% after reporting strong results. Miners lag with BHP Billiton and Rio Tinto down 0.4% and 1.3%, respectively.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +3.10. Nasdaq futures vs fair value: +4.00. The S&P 500 futures trade three points above fair value.

The latest weekly initial jobless claims count totaled 311,000, while the Briefing.com consensus expected a reading of 305,000. Today's tally was above the revised prior week count of 290,000 (from 289,000). As for continuing claims, they rose to 2.544 million from 2.519 million.

Export prices, excluding agriculture, increased 0.3% in July after decreasing 0.3% in the prior reading. Excluding oil, import prices were unchanged, which followed last month's downtick of 0.1%.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +6.00. U.S. equity futures hover near their pre-market highs amid upbeat action overseas. The S&P 500 futures trade four points above fair value after climbing off their overnight lows during the past two hours. If futures maintain their gains, the benchmark index will look for its second consecutive advance after finishing yesterday's session fewer than 10 points below its 50-day moving average (1956). Market participants have received a modest batch of earnings since yesterday's closing bell, but the overall reaction has been muted. On the economic front, weekly initial claims (Briefing.com consensus 305K) and export/import prices for July will be reported at 8:30 ET.

Treasuries sport modest gains with the 10-yr yield down almost two basis points at 2.42%.

In U.S. corporate news of note:

Cisco Systems (CSCO 24.97, -0.23): -0.9% despite beating earnings and revenue estimates. During the conference call, management said it expects revenue for the upcoming quarter to be flat or show modest growth.
Dangdang (DANG 15.40, -0.77): -4.8% despite beating earnings and revenue estimates and guiding Q3 revenue above consensus.
Kohl's (KSS 56.95, +1.84): +3.3% after beating earnings estimates on below-consensus revenue.
NetApp (NTAP 40.04, +0.74): +1.9% after beating earnings and revenue estimates.
Noodles & Co (NDLS 19.85, -5.36): -21.3% following its disappointing results and lowered guidance.
Wal-Mart (WMT 73.99, -0.04): -0.1% in reaction to in-line earnings on better than expected revenue. The retailer lowered its fiscal-year 2015 earnings guidance below analyst expectations.

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei +0.7%, Hong Kong's Hang Seng -0.4%, and China's Shanghai Composite -0.7%
In economic data:
Japan's Core Machinery Orders jumped 8.8% month-over-month (expected 15.3%; previous -19.5%), while the year-over-year reading fell 3.0% (consensus 3.3%; prior -14.3%)
Australia's MI Inflation Expectations decreased to 3.1% from 3.8%
New Zealand's Retail Sales rose 1.2% quarter-over-quarter (expected 1.0%; last 0.8%), while Core Retail Sales also increased 1.2% (consensus 1.1%; prior 1.0%). Separately, Business PMI slipped to 53.0 from 53.4
In news:
The Bank of Korea cut its key interest rate 25 basis points to 2.25%, as expected. The central bank cited weak improvement in domestic demand as the reason for the move
Bank Indonesia made no changes to its policy, keeping its key rate at 7.50%
Japan's government downgraded its machinery orders assessment following the disappointing report for June

Major European indices trade higher across the board. Great Britain's FTSE +0.5%, France's CAC +0.5%, and Germany's DAX +0.5%. Elsewhere, Italy's MIB +0.6% and Spain's IBEX +0.1%
Participants received several data points:
Eurozone preliminary Q2 GDP was unchanged quarter-over-quarter (expected 0.1%; previous 0.2%), while the year-over-year reading increased 0.7%, as expected. Separately, CPI fell 0.7% month-over-month (expected -0.6%; prior 0.1%), while the year-over-year reading increased 0.4%, as expected. Core CPI increased 0.8% year-over-year, which also matched expectations
Germany's preliminary Q2 GDP contracted 0.2% (expected -0.1%; previous 0.7%), while the year-over-year reading increased 0.8% (consensus 1.5%; prior 2.5%)
French GDP was unchanged quarter-over-quarter (expected 0.1%; last 0.0%), while Nonfarm Payrolls increased 0.1% quarter-over-quarter (expected -0.1%; prior -0.1%)
Among news of note:
Following the flat GDP reading, French Finance Minister Michel Sapin said the government will lower its 2014 GDP target to roughly 0.5% from 1.0%

7:02 am: [BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +6.00.

7:02 am: [BRIEFING.COM] Nikkei...15314.57...+100.90...+0.70%. Hang Seng...24801.36...-89.00...-0.40%.

7:02 am: [BRIEFING.COM] FTSE...6688.02...+31.10...+0.50%. DAX...9244.38...+45.50...+0.50%.

Bloomberg

http://www.bloomberg.com/news/2014-08-1 ... nings.html

http://www.bloomberg.com/news/2014-08-1 ... emand.html

http://www.bloomberg.com/news/2014-08-1 ... rect-.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

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