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 Post subject: August 26th Tuesday Trade Results - Loss $960.00
PostPosted: Tue Aug 26, 2014 8:36 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 @ ($960.00) dollars or -9.60 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Loss @ ($960.00) 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=1871

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

Yahoo! Finance

4:15 pm: [BRIEFING.COM] Equity indices ended the Tuesday session on an upbeat note with small-cap stocks pacing the advance. The Russell 2000 jumped 0.9%, while the S&P 500 posted a slim gain of 0.1% with seven sectors ending higher.

In some ways, today's session resembled yesterday's affair as the key indices climbed out of the gate, reached their highs during the first half of action, and spent the remainder of the session in a slow retreat from their best levels of the day. Trading volume was light once again, but today's session generated a bit more activity (501 million) than what was observed yesterday.

Biotechnology outperformed for the second day in a row with the iShares Nasdaq Biotechnology ETF (IBB 275.71, +3.08) climbing to a new record high. The ETF rose 1.1%, while the health care sector (+0.4%) was the only outperformer among countercyclical sectors.

Meanwhile, the cyclical side fared a bit better with energy (+0.5%) and financials (+0.3%) spending the entire session ahead of the broader market. Energy rebounded from recent underperformance, while crude oil added 0.5% to $93.85/bbl.

For its part, the financial sector received support from heavily-weighted components like Citigroup (C 52.13, +0.50) and JPMorgan Chase (JPM 59.74, +0.40). Similarly, foreign banks fared well with the likes of Deutsche Bank (DB 34.55, +0.66) and UBS (UBS 17.96, +0.11) posting respective gains of 2.0% and 0.6%.

The remaining cyclical sectors ended on a mixed note with consumer discretionary (+0.1%) and technology (+0.1%) finishing right behind the S&P 500, while industrials (-0.3%) settled in the red.

In the discretionary space, shares of Best Buy (BBY 29.80, -2.19) fell 6.9% after the company's cautious second-half outlook masked better than expected earnings. On the flip side, DSW (DSW 30.99, +2.62) soared 9.2% in reaction to strong results. Overall, retailers displayed strength with the SPDR S&P Retail ETF (XRT 89.17, +0.66) climbing 0.8%.

On the downside, the industrial sector lagged amid weakness in transport stocks. Alaska Air (ALK 46.28, -0.61) and Delta Air Lines (DAL 39.90, -0.62) both lost near 1.4%, while the Dow Jones Transportation Average shed 0.4%.

Treasuries ended little changed after surrendering their overnight gains. The 10-yr yield finished at 2.39%.

Also of note, Presidents of Russia and Ukraine met in Minsk today for the first time since the conflict between the two governments broke out. The meeting did not produce any results, but both parties have agreed to return to the capital of Belarus for future talks.

Economic data included Durable Orders, FHFA Housing Price Index, Case-Shiller 20-city Index, and Consumer Confidence:

Durable goods orders soared 22.6% in July after increasing an upwardly revised 2.7% (from 1.7%) in June, while the Briefing.com consensus expected an increase of 7.0%
The headline surge was due to Boeing (BA 128.60, +0.27) reporting record-setting orders in July, which resulted in a 318% increase in orders of nondefense aircraft and parts, leading to an outsized 74.2% increase in transportation orders
Excluding transportation, orders fell 0.8%, while the consensus expected an increase of 0.6%
The June Housing Price Index from the FHFA rose 0.4%, which followed a revised increase of 0.1% observed during the prior month (from 0.4%)
The Case-Shiller 20-city Home Price Index for June rose 8.1%, while an 8.3% increase had been expected by the Briefing.com consensus
The Conference Board's Consumer Confidence Index rose to 92.4 in August from a downwardly revised 90.3 (from 90.9) in July, while the consensus expected a decline to 88.3
The Present Conditions Index increased to 94.6 in August from 87.9 in July, while the Expectations Index fell to 90.9 from 91.9

Tomorrow's economic data will be limited to the weekly MBA Mortgage Index, which will be released at 7:00 ET.

Nasdaq Composite +9.4% YTD
S&P 500 +8.2% YTD
Dow Jones Industrial Average +3.2% YTD
Russell 2000 +1.0% YTD

3:35 pm: [BRIEFING.COM]

The dollar index remained in positive territory in afternoon trading, which helped weigh on select commodities
Precious metals sold off in late morning trade. Silver extended its sell-off longer than gold, erasing today's gains, mostly.
Gold remained consolidated in afternoon trade following sell-off.
Dec gold ended $6.90 higher at $1285.40/oz, while Sept silver ended just 4 cents higher at $19.39/oz
Copper remained in negative territory all day and closed 3 cents lower at $3.11/lb
Crude oil gradually climbed off of the flat line, which came after its sell-off
Oct crude closed $0.50 higher at $93.85/barrel. Sept nat gas fell 2 cents to $3.92/MMBtu.

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.2% with one hour remaining in the session. Investors received four economic reports today, but tomorrow's session is setting up to be very quiet on the economic front.

The weekly MBA Mortgage Index, which is not known to move the market, will be tomorrow's lone data point, scheduled to be released at 7:00 ET.

On the earnings front, investors will receive several quarterly reports, including results from Chico's FAS (CHS 16.06, +0.04), Express (EXPR 14.59, -0.04), and Tiffany (TIF 101.40, +1.17). The three retailers will release their results ahead of the opening bell.

2:25 pm: [BRIEFING.COM] Equity indices remain near their recent levels with the Russell 2000 (+0.9%) continuing its outperformance.

Even though the Russell 2000 has held the lead since the late morning, not all high-beta areas have followed suit. Biotech names outperform with the iShares Nasdaq Biotechnology ETF (IBB 275.96, +3.33) trading higher by 1.2%, while chipmakers are among the laggards. The PHLX Semiconductor Index hovers just north of its flat line.

Elsewhere, transport stocks remain weak with the Dow Jones Transportation Average (-0.2%) hovering near its opening low. Meanwhile, the industrial sector (-0.2%) is the weakest performer among cyclical groups.

2:00 pm: [BRIEFING.COM] The S&P 500 (+0.2%) trades in the middle of its range as the subdued afternoon continues. Including today's slim gain, the benchmark index is now higher by 3.7% in August with just three more sessions remaining before the month ends.

In general, August has been a good month for most sectors as five groups hold month-to-date gains of at least 4.0%. The two consumer sectors-discretionary and staples-have had the best showing this month and both are up near 4.5%.

On the downside, the telecom services sector is on track to post an August loss of 2.3%, while the second-weakest performer of the month-energy-is higher by 1.8% so far in August.

1:25 pm: [BRIEFING.COM] Today's trading is somewhat reminiscent of Monday's trading: an early run by the S&P 500 above 2000, a few celebratory nods, and then a drift lower. The difference at this juncture is that the S&P 500 is still above 2000.

Not surprisingly, NYSE volume is very light once again at 230 mln shares. The run rate suggests today could give yesterday a run for the money in terms of the lightest volume day of the year; it also connotes that many participants have traded work assignments for vacation pleasures (or at least non-work activities).

At the top of the hour, the results from the $29 bln 2-yr note auction were released and they revealed decent demand for the available supply.

The auction drew a high yield of 0.53% on a strong 3.48x bid-to-cover ratio that was above the prior 12-auction average of 3.36x. Indirect bidders, meanwhile, took 39.8% of the supply, which was also ahead of the 12-auction average of 26.0%. Direct bids, however, were low at 12.1% versus a 23.4% 12-auction average. The market response has been limited.

1:00 pm: [BRIEFING.COM] Equity indices hold modest midday gains with the Russell 2000 (+0.7%) in the lead. The small-cap index has climbed to its best level since early July, while the S&P 500 (+0.2%) has notched a fresh intraday record high at 2,005.07.

The stock market climbed out of the gate with two influential sectors-energy (+0.8%) and financials (+0.3%)-providing support in the early going. The energy sector rebounded from its recent underperformance, while financials displayed relative strength for the second consecutive day. Including today's advance, the financial sector has added 4.2% in August versus a 3.7% month-to-date increase for the S&P 500.

Also of note, biotechnology has provided a measure of support with the iShares Nasdaq Biotechnology ETF (IBB 275.52, +2.89) trading higher by 1.1%. The ETF has climbed to a new record high, while the health care sector (+0.4%) is the lone outperformer among countercyclical groups.

Elsewhere, the remaining sectors struggled a bit in the early going with heavily-weighted consumer discretionary (+0.1%), industrials (-0.2%), and technology (+0.1%) continuing their relative weakness at this juncture.

In the discretionary sector, Tim Hortons (THI 81.16, +6.44) has jumped 8.6% after agreeing to be acquired by Burger King (BKW 31.36, -1.04) for roughly $11.50 billion in cash and stock.

Meanwhile on the retail side, Best Buy (BBY 30.03, -1.96) is lower by 6.1% after its cautious second-half guidance overshadowed better than expected results. On the flip side, DSW (DSW 30.83, +2.46) has spiked 8.6% in reaction to above-consensus earnings and revenue.

Treasuries held gains overnight, but returned to their flat lines in the morning. The 10-yr yield is at 2.39%.

Economic data included Durable Orders, FHFA Housing Price Index, Case-Shiller 20-city Index, and Consumer Confidence:

Durable goods orders soared 22.6% in July after increasing an upwardly revised 2.7% (from 1.7%) in June, while the Briefing.com consensus expected an increase of 7.0%
The headline surge was due to Boeing (BA 128.73, +0.40) reporting record-setting orders in July, which resulted in a 318% increase in orders of nondefense aircraft and parts, leading to an outsized 74.2% increase in transportation orders
Excluding transportation, orders fell 0.8%, while the consensus expected an increase of 0.6%
The June Housing Price Index from the FHFA rose 0.4%, which followed a revised increase of 0.1% observed during the prior month (from 0.4%)
The Case-Shiller 20-city Home Price Index for June rose 8.1%, while an 8.3% increase had been expected by the Briefing.com consensus
The Conference Board's Consumer Confidence Index rose to 92.4 in August from a downwardly revised 90.3 (from 90.9) in July, while the consensus expected a decline to 88.3
The Present Conditions Index increased to 94.6 in August from 87.9 in July, while the Expectations Index fell to 90.9 from 91.9

12:30 pm: [BRIEFING.COM] Recent action saw the S&P 500 (+0.2%) inch away from its session high, but the index continues holding a modest gain. The recent retreat involved downticks among all sectors with the industrial space (-0.1%) dipping into the red. Airlines are among the notable underperformers with Alaska Air (ALK 46.65, -0.24), Delta Air Lines (DAL 40.25, -0.27), and JetBlue (JBLU 12.50, -0.11) down between 0.5% and 0.9%. For its part, the Dow Jones Transportation Average hovers just below its flat line.

Elsewhere among cyclical sectors, the consumer discretionary space (+0.2%), which trailed earlier, now trades in line with the benchmark index. Retailers have shown strength with the SPDR S&P Retail ETF (XRT 89.18, +0.67) trading higher by 0.8%.

12:00 pm: [BRIEFING.COM] Not much change in the major averages as they remain near their best levels of the session. The S&P 500 trades higher by 0.3% with nine sectors holding gains.

Yesterday's session generated the lightest volume of the year with only 482 million shares changing hands at the NYSE. This was the lowest total since December 30, 2013 when just over 450 million shares were traded.

With only 172 million shares traded so far, today's session is likely to produce a volume total that could rival yesterday's tally.

11:30 am: [BRIEFING.COM] Equity indices remain bid with the Dow Jones Industrial Average (+0.5%) and Russell 2000 (+0.8%) trading a little ahead of the S&P 500 (+0.4%).

Like the S&P 500, the price-weighted Dow has also climbed to a new record high with 25 of its 30 components showing gains at this juncture. However, of the 25 advancers, only two hold gains close to 1.0% apiece. ExxonMobil (XOM 100.13, +1.38) JPMorgan Chase (JPM 59.88, +0.54) are the two leading performers. On the downside, Nike (NKE 79.77, -0.24) is lower by 0.3%, while the remaining decliners hover just below their respective flat lines.

As for the Russell 2000, the small-cap index has climbed to its best level since early July.

11:00 am: [BRIEFING.COM] The S&P 500 (+0.3%) has extended to a fresh session high with help from two sectors that have shown strength since the early going. Energy (+1.0%) and financials (+0.5%) hover near their best levels of the session, while the remaining eight sectors trade a bit closer to their flat lines. On the flip side, the utilities sector (-0.2%) is the lone decliner.

Interestingly, the health care sector (+0.3%) has recently caught up to the market even as biotechnology has shown relative strength since the start. The iShares Nasdaq Biotechnology ETF (IBB 274.82, +2.11) is higher by 0.8% to extend its August gain to 9.6%.

Elsewhere, Treasuries have returned to their flat lines after marking session highs during the initial minutes of action. The 10-yr yield is at 2.38%.

10:35 am: [BRIEFING.COM]

The dollar index is just modestly lower this morning, but commodities such as oil and precious metals are trading with notably volatility this morning
Crude oil rallied in recent trade and rose as high as $94.45/barrel. It's now up 0.8% at $94.07/barrel
Gold and silver are pulling back from its rally earlier this morning, but both continue to trade in positive territory
Dec gold is now +0.5% at $1284.60/oz and Sept silver is +0.6% at $19.48/oz
Copper has been in the red all day so far and are now -0.4% at $3.20/lb
Natural gas is trading near the flat this morning, but is now +0.2% at $3.95/MMBtu

10:00 am: [BRIEFING.COM] The S&P 500 remains near its opening high with nine sectors showing gains. Energy (+0.6%) remains in the lead with financials (+0.3%) following not far behind.

Just released, the consumer confidence reading for August came in at 92.4, while economists polled by Briefing.com expected the survey to come in at 88.3. This followed the prior month's revised reading of 90.3 (from 90.9).

9:40 am: [BRIEFING.COM] Equity indices registered slim opening gains amid relative strength in a handful of influential sectors. The S&P 500 trades higher by 0.2% with the energy sector (+0.5%) providing leadership, while crude oil trades up 0.9% at $94.16/bbl.

Energy notwithstanding, other heavily-weighted sectors like financials (+0.2%), and health care (+0.3%) also trade ahead of the broader market, while the consumer discretionary sector (unch) lags. Movado (MOV 40.25, -3.79) has tumbled 8.6% in reaction to its disappointing results.

Treasuries hover near their highs with the 10-yr yield down one basis point at 2.37%.

The Consumer Confidence report for August (Briefing.com consensus 88.3) will be released at 10:00 ET.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: +2.40. Nasdaq futures vs fair value: +5.70. The stock market is on track to continue its upbeat start to the week with futures on the S&P 500 trading two points above fair value. Given the current standing, the benchmark index is likely to revisit its intraday record high of 2,001.95 that was registered yesterday.

M&A activity was in focus yesterday with participants responding to talks about a potential merger between Burger King (BKW 32.92, +0.52) and Tim Hortons (THI 82.00, +7.28). Today, investors received confirmation that the two entities will merge and THI shareholders will receive CAD65.50 and 0.8025 shares of BKW, which represents a total value of $94.05/share.

In other corporate news, Best Buy (BBY 30.60, -1.39) is on track to open lower by 4.4% after its cautious guidance for the second half of the year overshadowed its better than expected results.

On the economic front, durable goods orders soared 22.6% in July, while the Briefing.com consensus expected an increase of 7.0%. Despite the headline surge, which was due to a big jump in orders at Boeing (BA 128.50, +0.17), the report was a disappointment. Excluding transportation, durable orders fell 0.8% (Briefing.com consensus +0.6%) with declines seen across most manufacturing segments.

Investors also received two housing-related reports (June FHFA +0.4%; June Case-Shiller Index +8.1%), while the Consumer Confidence report for August will be released at 10:00 ET. The Briefing.com consensus expects the reading to come in at 88.3.

Treasuries hold modest gains with the 10-yr yield down one basis point at 2.37%.

9:02 am: [BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +4.20. The S&P 500 futures trade two points above fair value.

The June Housing Price Index from the FHFA rose 0.4%, which followed a revised increase of 0.2% observed during the prior month (from 0.4%).

The Case-Shiller 20-city Home Price Index for June rose 8.1%, while an 8.3% increase had been expected by the Briefing.com consensus. This follows the previous month's increase of 9.3%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +4.70. The S&P 500 futures trade two points above fair value.

Markets finished lower across most of Asia

In economic data:
Japan's Corporate Services Price Index rose 3.7%, as expected (previous 3.7%)
New Zealand's trade surplus swung to a deficit of NZD692 million (expected deficit of NZD475 million; prior surplus of NZD247 million)
Singapore's Industrial Production rose 2.7% month-over-month (expected 2.0%; previous 0.2%), while the year-over-year reading jumped 3.3% (consensus 3.7%; last 0.8%)

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Japan's Nikkei lost 0.6%, sliding from its best levels of the month. Heavyweights Softbank and KDDI Corp fell 1.8% and 1.4%, respectively.
Hong Kong's Hang Seng shed 0.4% to slip from six-year highs. Property names were pressured as China Resources Land and China Overseas Land & Investment gave up 2.2% and 1.1%, respectively.
China's Shanghai Composite fell 1.0% to register its second consecutive decline on concerns over the supply of IPOs coming to market. China Eastern Arilines lost 3.6% as traders booked profits after yesterday's 10.0% surge.

Major European indices trade higher with Spain's IBEX (+0.8%) in the lead. Participants are on a lookout for headlines from Minsk, Belarus, where Russian President Vladimir Putin is meeting Ukraine's President Petro Poroshenko in an attempt to de-escalate the conflict between their respective governments.

Economic data was limited to just one item:
Great Britain's BBA Mortgage Approvals came in at 42,800 (expected 44,200; prior 43,200)

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Germany's DAX is higher by 0.3% with financials providing support. Commerzbank, Deutsche Bank, and Deutsche Boerse are up between 0.7% and 1.6%. Utilities underperform with E.On and RWE down 0.6% and 0.3%, respectively.
Great Britain's FTSE trades up 0.4% amid strength in consumer names. G4S, easyJet, and International Consolidated Airlines hold gains between 1.4% and 1.9% Miners lag with Antofagasta, Fresnillo, and Rio Tinto down between 0.5% and 2.5%.
In France, the CAC sports an advance of 0.6% with 37 of its 40 components showing gains. BNP Paribas, Credit Agricole, and Societe Generale are up between 0.9% and 1.6%. GDF Suez is the weakest performer, down 1.6%.
Spain's IBEX has added 0.8% with support from growth-sensitive names. ArcelorMittal, Fomento de Construcciones, and Abengoa lead with gains between 2.0% and 3.1%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +2.10. Nasdaq futures vs fair value: +4.00. The S&P 500 futures trade two points above fair value.

July durable goods orders surged 22.6%, which was better than the 7.0% increase expected among economists polled by Briefing.com. This comes after the prior month's revised reading reflected an increase of 2.7% (from 1.7%). Excluding transportation, durable orders decreased 0.8% (consensus 0.6%) to follow the prior month's revised increase of 3.0% (from 1.9%).

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +5.20. U.S. equity futures hold slim gains amid upbeat action overseas. The S&P 500 futures trade three points above fair value, placing the benchmark index on track to revisit the 2,000 level at the open. Yesterday, the S&P 500 made its first ever appearance above that mark before surrendering a portion of its advance during afternoon action. It is worth mentioning that the Monday advance lacked conviction with the NYSE floor volume (482 million) representing the lowest total of the year.

Participants will receive several data points today with Durable Orders for July (Briefing.com consensus 7.0%) set to be released at 8:30 ET, while the June Case-Shiller 20-city Index (consensus 8.3%) and the FHFA Housing Price Index for June will both be reported at 9:00 ET. The day's data will be topped off with the Consumer Confidence report for August, which will cross the wires at 10:00 ET (expected 88.3).

Treasuries hover just above their flat lines with the 10-yr yield down one basis point at 2.38%.

In U.S. corporate news of note:

Best Buy (BBY 30.65, -1.34): -4.2% after its cautious guidance for the second half of the year overshadowed its better than expected earnings
DSW (DSW 32.00, +3.63): +12.8% following its better than expected results and upbeat guidance
Tim Hortons (THI 82.25, +7.53): +10.1% after confirming its merger with Burger King (BKW 32.18, -0.22). THI shareholders will receive CAD65.50 and 0.8025 shares of BKW, which represents a total value of $94.05/share.
Trina Solar (TSL 12.48, -0.89): -6.7% in reaction to below-consensus revenue

Reviewing overnight developments:

Major Asian indices ended lower. Hong Kong's Hang Seng -0.4%, Japan's Nikkei -0.6%, and China's Shanghai Composite -1.0%
In economic data:
Japan's Corporate Services Price Index rose 3.7%, as expected (previous 3.7%)
New Zealand's trade surplus swung to a deficit of NZD692 million (expected deficit of NZD475 million; prior surplus of NZD247 million)
Singapore's Industrial Production rose 2.7% month-over-month (expected 2.0%; previous 0.2%), while the year-over-year reading jumped 3.3% (consensus 3.7%; last 0.8%)
In news:
The People's Bank of China drained liquidity from the market for the ninth consecutive session in the amount of CNY10 billion.

Markets in Europe trade higher. Germany's DAX +0.2%, Great Britain's FTSE +0.5%, and France's CAC +0.8%. Elsewhere, Italy's MIB +0.7% and Spain's IBEX +0.8%
Economic data was limited:
Great Britain's BBA Mortgage Approvals came in at 42,800 (expected 44,200; prior 43,200)
Among news of note:
Russian President Vladimir Putin is meeting Ukrainian President Petro Poroshenko in Belarus today in an attempt to de-escalate the conflict between the two countries.

6:56 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +3.00.

6:56 am: [BRIEFING.COM] Nikkei...15521.22...-92.00...-0.60%. Hang Seng...25074.50...-92.40...-0.40%.

6:56 am: [BRIEFING.COM] FTSE...6793.41...+18.20...+0.30%. DAX...9491.80...-18.30...-0.20%.

Bloomberg

* WTI Trades Near Three-Day High as U.S. Crude Stockpiles Decline

By Ben Sharples Aug 26, 2014 7:53 PM ET

West Texas Intermediate traded near the highest price in three days after an industry report showed crude stockpiles fell in the U.S., the world’s biggest oil user.

Futures were little changed in New York after climbing 0.6 percent yesterday. Crude supplies shrank by 1.3 million barrels last week, the American Petroleum Institute was said to report. Energy Information Administration data today is forecast to show inventories dropped by 2.5 million, according to a Bloomberg News survey. Iran joined efforts to back Iraqi Kurdish forces battling Islamic State militants who have captured swathes of northern Iraq.

WTI for October delivery was at $93.80 a barrel on the New York Mercantile Exchange, down 6 cents, at 9:52 a.m. Sydney time. The contract gained 51 cents to $93.86 yesterday, the highest close since Aug. 21. The volume of all futures traded was about 75 percent below the 100-day average. Prices have increased 4.7 percent this year.

Brent for October settlement fell 15 cents, or 0.2 percent, to $102.50 a barrel on the London-based ICE Futures Europe exchange yesterday. The European benchmark crude ended the session at a premium of $8.64 to WTI.

U.S. gasoline inventories decreased by 3.2 million barrels during the week ended Aug. 22, the API said yesterday, according to Bain Energy. The EIA is forecast to report stockpiles of the fuel fell by 1.6 million, the Bloomberg survey shows.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net

To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net Alexander Kwiatkowski, Ramsey Al-Rikabi

* Gold Advances Most in Two Weeks on Ukraine Tension

By Debarati Roy and Nicholas Larkin Aug 26, 2014 2:26 PM ET

Gold rose the most in more than two weeks as tensions flared on the border between Ukraine and Russia, increasing demand for the precious metal as a haven.

Russian President Vladimir Putin began talks today with his Ukrainian counterpart, Petro Poroshenko. Ukraine said that 12 servicemen and 200 rebels died in the past 24 hours.

This year, gold has gained 6.9 percent on turbulence in the Gaza region, Iraq and Eastern Europe coupled with signs of slowing global economic growth. The conflict between Ukraine’s government and pro-Russian separatists has left more than 2,000 dead since Putin annexed Crimea in March.

“Gold is getting a bid today because of the escalation in violence in Ukraine,” Frank Lesh, a trader at FuturePath Trading LLC in Chicago, said in a telephone interview. “Some people are worried that this crisis will not end soon.”

Gold futures for December delivery rose 0.5 percent to settle at $1,285.20 an ounce at 1:40 p.m. on the Comex in New York, the biggest gain for a most-active contract since Aug. 6. Trading was 21 percent below the average for the past 100 days for this time, data compiled by Bloomberg show.
Rate Outlook

Bullion slid to a two-month low of $1,273.40 on Aug. 21, on concern that the Federal Reserve may raise interest rates sooner than expected. Fed Chair Janet Yellen said in an address at Jackson Hole, Wyoming, the following day that if progress in labor markets “continues to be more rapid than anticipated,” an interest-rate increase could come sooner than currently expected, and further increases could be more rapid.

Last year, gold slumped the most in more than three decades on concern that the U.S. central bank would slow the pace of monetary stimulus.

Russia and Kazakhstan increased gold holdings in July, while Belarus, Ecuador and Mexico were among nations that reduced them, data on the International Monetary Fund’s website show.

Silver futures for December delivery gained 0.1 percent to $19.459 an ounce on the Comex, the first advance in four sessions.

On the New York Mercantile Exchange, platinum futures for October delivery rose 0.1 percent to $1,419.60 an ounce, halting a nine-session decline. Earlier, the price dropped to $1,413.50, the lowest since May 1. Palladium futures for December delivery fell 0.2 percent to $890.15 an ounce.

To contact the reporters on this story: Debarati Roy in New York at droy5@bloomberg.net; Nicholas Larkin in London at nlarkin1@bloomberg.net

* Euro Weakens to Lowest in Almost One Year on Outlook

By Rachel Evans Aug 26, 2014 5:06 PM ET

The euro fell to its lowest in almost a year versus the dollar on speculation the European Central Bank will increase monetary stimulus while the U.S. moves toward interest-rate increases.

The greenback traded at almost a six-month high against a basket of its major peers as U.S. consumer confidence unexpectedly increased. New Zealand’s dollar slid to the lowest in six months after the nation’s trade balance slipped into deficit. Turkey’s lira gained on signs the central bank may pause monetary easing and Brazil’s real rose amid bets a voter poll will show reduced support for the incumbent president. The ECB holds a policy meeting next week.

“The data we’ve being seeing out of the U.S. compared to the euro zone has continued to show divergence both in economic performance and likely in monetary policy, with the Federal Reserve starting to begin the process of moving away from its accommodative policy stance whereas the ECB appears to be just at the beginning of its journey,” Brian Daingerfield, a currency strategist at Royal Bank of Scotland Group Plc’s RBS Securities unit in Stamford, Connecticut, said in a phone interview. “That divergence is very clear and is something that has been putting pressure on euro-dollar.”

The euro dropped 0.2 percent to $1.3167 as of 5 p.m. in New York, touching the lowest level since Sept. 9, 2013. Europe’s shared currency traded down 0.2 percent at 137.03 yen. The dollar was little changed at 104.06 yen.
Dollar Demand

The Bloomberg Dollar Spot Index, which tracks the U.S. currency versus 10 major counterparts, was little changed at 1,030.60, after reaching 1,031.86, the highest since Feb. 3.

“We had a big dollar move last week, so it’d be expected that you’d have a pause,” said Greg Anderson, head of global foreign-exchange strategy in New York at Bank of Montreal. “Next week is a lot more important with a lot more first-tier data. I would be long the dollar.” A long position is a bet an asset will increase in value.

New Zealand’s dollar fell against most of its 16 major counterparts after statistics bureau data today showed the nation’s trade deficit in July was bigger than the median estimate of economists surveyed by Bloomberg.

“New Zealand’s July trade balance disappointed,” said Joseph Capurso, a Sydney-based currency strategist at Commonwealth Bank of Australia. “Downward pressure on the New Zealand dollar remains, particularly given speculation of RBNZ intervention,” Capurso said in reference to the Reserve Bank of New Zealand.

New Zealand’s currency fell 0.1 percent to 83.32 U.S. cents after touching the weakest since Feb. 27.
Lira Rises

Turkey’s lira rose 0.6 percent amid indications that the central bank may pause monetary easing.

Nine out of 16 economists surveyed by Bloomberg News predict the bank will keep the benchmark repurchase rate unchanged tomorrow at 8.25 percent. The nation’s central bank has gradually increased the average charge of funding provided to banks this month, according to data compiled by Bloomberg.

Brazil’s currency gained the most of the dollar’s 31 major counterparts amid speculation that President Dilma Rousseff is declining in popularity after overseeing the slowest economic growth in two decades. The real rose 1.2 percent to 2.2617 per dollar.

The ECB will probably cut interest rates 10 basis points when it meets Sept. 4, Nick Matthews, senior economist at Nomura Holdings Inc. in London, wrote in a note yesterday. The Japanese broker sees an 80 percent likelihood that the central bank will cut rates by October.
Draghi View

ECB President Mario Draghi said in a speech at a conference in Jackson Hole, Wyoming, last week that investor bets on euro-area inflation “exhibited significant declines at all horizons” in August.

A preliminary reading of German inflation due on Aug. 28 may show price gains in the euro area’s largest economy stalled in August from the previous month. A European Commission report the same day may show its index of executive and consumer sentiment fell to the lowest level since February.

The euro has fallen 0.6 percent in the past month, according to Bloomberg Correlation-Weighted Indexes that track 10 developed-nation currencies. The dollar has advanced 1.6 percent, the best performer after the Norwegian krone, while the yen has weakened 0.8 percent.

The U.S. sold $29 billion of two-year notes at close to the highest yield in three years today. The notes yield the most versus similar-maturity German debt since 2007.

Fed Chair Janet Yellen said last week that an improving U.S. jobs market may prompt the central bank to raise interest rates next year. The Fed is winding down its monthly bond-buying and has held its benchmark interest-rate target at virtually zero since December 2008.

Consumer confidence in the U.S. unexpectedly climbed to the highest level in almost seven years this month, a report showed today. U.S. durable-goods orders excluding transportation fell 0.8 percent in July, missing the median forecast for a 0.5 percent advance, a report showed today. Overall orders however jumped 22.6 percent, the most on record, as bookings surged for commercial aircraft.

To contact the reporter on this story: Rachel Evans in New York at revans43@bloomberg.net

To contact the editors responsible for this story: Dave Liedtka at dliedtka@bloomberg.net Paul Cox, Kenneth Pringle

To contact the editors responsible for this story: Millie Munshi at mmunshi@bloomberg.net Joe Richter, Steve Stroth

http://www.bloomberg.com/news/2014-08-2 ... limbs.html

http://www.bloomberg.com/news/2014-08-2 ... cline.html

http://www.bloomberg.com/news/2014-08-2 ... emand.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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