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 Post subject: October 10th Friday Trade Results - Profit $9120.00
PostPosted: Fri Oct 10, 2014 12:35 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
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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 @ $9,120.00 dollars or +91.20 points, Emini ES ($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 @ $9,120.00 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=135&t=1908

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=248&t=2530

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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

Stocks on major markets fell on Friday, with an index of global equities hitting a seven-month low, and oil slumped to a four-year low as worries about weak worldwide economic growth continued to take a toll on investor confidence.

Most major markets declined about 1 percent on Friday, though the U.S. benchmark S&P 500 index fell just 0.2 percent, while the tech-heavy Nasdaq experienced the biggest losses on Wall Street.

Investors have scrambled to reduce big bets in stocks and other risky assets after reaping big gains from a rally in major world equity markets that has only seen brief interruptions in the past three years.

Assets tied to expectations for improved growth have been hit by a recent raft of weak indicators from Europe and China at a time when other big economies, including Japan and Brazil, face their own hardships and as the U.S. Federal Reserve is expected to reduce monetary accommodation in the coming months.

"In a vacuum of policy response, investors are selling first and asking questions later," said Jim McDonald, chief investment strategist at Chicago-based Northern Trust Asset Management, which has about $924 billion in assets under management.

"It smells like there is a high degree of involvement from systematic traders, rather than fundamental traders. The magnitude of the move has been disproportionate to the change in the fundamentals," he said.

The Dow Jones industrial average fell 9.7 points, or 0.06 percent, to 16,649.55, the S&P 500 lost 6.04 points, or 0.31 percent, to 1,922.17, and the Nasdaq Composite dropped 57.72 points, or 1.32 percent, to 4,320.62.

In a sign of increased volatility, the CBOE Volatility Index, or VIX, the market's favored gauge of Wall Street anxiety, touched a high of 22.06 on Friday, its highest intraday level since December 2012, as more investors paid up for protection against further declines. The VIX pared gains in the afternoon, trading at 19.74.

Concerns about global growth have hit oil prices hard, though they rose slightly in late afternoon trading. Brent crude oil was up at $90.17 a barrel, after touching its lowest level since December 2010 at $88.11. U.S. November crude was flat at $85.80.

The risk aversion has boosted buying in safe-haven government debt. Lipper data shows U.S.-based taxable bond funds attracted $12.7 billion in inflows for the week ended Wednesday, a one-week record, while U.S. equity funds saw $6.7 billion in outflows, with most coming from exchange-traded funds.

The yield on the U.S. 10-year Treasury note fell to 2.307 percent on Friday, the lowest level since June. The 30-year Treasury bond was up 5/32 in price to yield 2.3088 percent, the lowest level since June 2013.

The MSCI all-country world index was down 0.9 percent after hitting its lowest level since March, while the pan-European FTSEurofirst 300 index ended down more than 1 percent.

Later this month, the Federal Reserve is set to wind down the asset purchase program that has been credited with boosting markets over the past two years. Many observers doubt the recent stimulus measures unveiled by the European Central Bank will make up for the Fed program.

A string of dismal data from Germany and other large euro zone economies in recent weeks has fed anxiety over a possible recession in the region, and the jury is still out on the ECB's proposed policy response.

Some investors have been speculating that the ECB will be forced to launch a sovereign bond-buying program, styled on the Fed's quantitative easing.

China's shares ended down on Friday as investors remained cautious ahead of September economic data due next week. Economists expect the Chinese economy to have grown at its weakest pace in more than five years, according to a Reuters poll.

The dollar index, which tracks the greenback against six major currencies, was up 0.42 percent at 85.878. Against the euro, the dollar was up 0.56 percent at $1.2619. The dollar traded flat against the yen at 107.83 yen.

Though it was still trading near four-year highs, the dollar index was on track to end a record-long rally with its first weekly fall in three months. [FRX/]

Euro zone bond yields bounced off record lows after top Federal Reserve officials hinted at an interest rate rise in the middle of next year, reversing some bets for a longer period of near-zero rates.

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.3% with one hour remaining in the final session of the week. This week was very quiet on the economic front, but that will change next week. Monday and Tuesday will be free of economic data while Wednesday's session will feature September Retail Sales (Briefing.com consensus -0.1%), PPI (consensus 0.1%), the Empire Manufacturing Index for October (expected 20.0), and the Business Inventories report for August (consensus 0.4%).

Thursday will also bring several reports with September Industrial Production (consensus 0.4%) headlining the list. On Friday, the week will wrap up with the Housing Starts (1.022 mln) report for September and the preliminary reading of the Michigan Sentiment Survey for October (expected 84.0).

2:30 pm: [BRIEFING.COM] Afternoon action continues with the S&P 500 (-0.1%) trading just below its flat line.

With the Q3 reporting period set to heat up, market participants will turn their focus to quarterly earnings next week. Top-weighted components of the financial sector will be among the first to report with Citigroup (C 50.68, -0.46), JPMorgan Chase (JPM 59.23, +0.15), and Wells Fargo (WFC 51.10, -0.02) set to deliver their results ahead of Monday's opening bell.

In addition to the three names, JB Hunt (JBHT 72.59, -0.46), which is a member of the Dow Jones Transportation Average will also report on Monday morning while another DJTA component, CSX (CSX 30.39, -0.34), will announce its results after the close.

Also of note, investors will hear from Intel (INTC 32.42, -1.20) on Monday evening and the company's conference call is likely to receive added attention following the cautious comments from Microchip Technology (MCHP 40.75, -4.79).

2:00 pm: [BRIEFING.COM] The S&P 500 (+0.1%) and Dow (+0.2%) continue holding modest gains while the Nasdaq Composite (-0.9%) remains weak.

Given its current level, the S&P 500 is on track to register a weekly loss of 2.0%, which is roughly in-line with the Dow (-1.8%). The Nasdaq, however, has lagged throughout the week and is currently lower by 3.2% week-to-date.

Eight of ten sectors are on course to register weekly losses while countercyclical consumer staples and utilities have shown strength this week. The two sectors hold respective week-to-date gains of 1.3% and 1.8%.

1:30 pm: [BRIEFING.COM] With the roller coaster action of late, it is probably fitting that today's market is mixed with bulls and bears fighting it out.

Small caps are battling to stay positive, as is the Dow. The glaring point of weakness today, however, is the Nasdaq Composite.

The semiconductor group is the main drag on the Nasdaq and has been a weight on the broader market courtesy of a revenue warning from Microchip Technology (MCHP 40.33, -5.21) that also carried the company's nettlesome view that an industry correction is at hand.

Part of Microchip's view was formed from the understanding that its business in China, which is traditionally the strongest in the third quarter and accounted for 29% of net sales in fiscal 2014, saw a sequential decline in sales this time around.

The correction call broadsided the semiconductor group, which has paced a 5.6% decline in the Philadelphia Semiconductor Index. The SOX Index had been down as much as 7.7% earlier today.

1:00 pm: [BRIEFING.COM] Equity indices are mixed at midday with the S&P 500 (+0.1%) and Russell 2000 (+0.3%) holding gains while the Nasdaq Composite (-0.7%) underperforms.

The stock market has endured a volatile first half of the trading day with the technology sector (-1.2%) and specifically microchip manufacturers keeping the Nasdaq on the defensive. Meanwhile, most of the remaining sectors have been able to rebound from their early lows with the consumer staples space (+1.3%) in the lead.

Furthermore, the staples sector reflects the relative strength of the countercyclical sectors. This week's top performer-utilities-follows not far behind with a solid gain of 1.1%, while health care (+0.6%) and telecom services (+0.3%) also trade ahead of the broader market.

Interestingly, the strength in health care has been unable to boost biotech names with the iShares Nasdaq Biotechnology ETF (IBB 267.88, -0.07) trading little changed. This has weighed on the Nasdaq, but the true source of weakness can be found in the PHLX Semiconductor Index. The complex plunged out of the gate after Microchip (MCHP 40.48, -5.06) lowered its guidance below the Capital IQ consensus estimate. The PHLX Index has narrowed its early loss to 5.2% and currently trades 3.8% below its 200-day moving average (594.33).

Elsewhere among cyclical sectors, consumer discretionary (+0.3%) and financials (+0.4%) hold gains, and even the energy sector (+0.7%) trades ahead of the broader market following a rebound in crude prices. The energy component was down close to 2.0% this morning, but now trades little changed at $85.84/bbl.

Also of note, the industrial sector (-0.4%) has been a reluctant participant in the rebound with transport stocks pressuring the sector. The Dow Jones Transportation Average is lower by 0.5% today and down 5.5% since last Friday.

Treasuries hover near their flat lines after showing little movement during the first half of the session. The 10-yr yield is pegged at 2.31%.

Investors received just one economic report this morning:

Export prices, excluding agriculture, decreased 0.2% in September after decreasing 0.2% in the prior reading
Excluding oil, import prices ticked down 0.1%, which followed last month's unchanged reading

The Treasury Budget for September (Briefing.com consensus $106 billion) will be released at 14:00 ET.

12:30 pm: [BRIEFING.COM] The S&P 500 (+0.1%) has climbed back into the green while the Russell 2000 (+0.4%) is back near its early high.

At this juncture, only three sectors-industrials (-0.5%), materials (-0.4%), and technology (-1.2%)-remain in the red and only the technology sector has been reluctant in taking part in the rebound. Chipmakers continue exerting pressure on the sector, but the PHLX Semiconductor Index has narrowed its loss to 5.3%. That being said, Cree (CREE 31.18, +0.32) trades higher by 1.0% and is the lone advancer within the index.

Meanwhile, large cap tech trade in mixed fashion. Apple (AAPL 101.63, +0.61) is higher by 0.6% while Google (GOOGL 566.32, -4.49), Facebook (FB 74.69, -1.22), and Microsoft (MSFT 45.22, -0.63) hold losses between 0.8% and 1.6%.

12:05 pm: [BRIEFING.COM] The S&P 500 (-0.1%) has approached its flat line with dip buyers continuing to test the waters. However, there is still a sense of caution behind the buying interest as evidenced by the CBOE Volatility Index (VIX 19.08, +0.31), which has slid from its session high at 22.06%, but remains 1.7% above yesterday's closing level (19.11%) that represented the highest mark since early February.

Furthermore, VIX futures have gone into backwardation at the front end of the curve. October contracts hover at 18.10%, while November, December, and January contracts are at 17.50%, 17.40%, and 17.91%, respectively, meaning options traders are showing increased concern for near-term volatility.

11:30 am: [BRIEFING.COM] There hasn't been much change in today's trading dynamic with the Nasdaq (-1.3%) showing relative weakness while the Dow Jones Industrial Average hovers right near its flat line.

Blue chip stocks have had a pretty good showing so far considering the persistent weakness in growth-sensitive sectors. At this juncture, 16 of 30 Dow members hold gains with five names showing gains in excess of 1.0%. Coca-Cola (KO 44.60, +0.73) and Procter & Gamble (PG 85.08, +1.42) lead with gains close to 1.7% apiece, which is fitting considering the pair falls under the umbrella of today's leading sector-consumer staples (+1.1%).

On the downside, Intel (INTC 32.10, -1.52) is the weakest performer, down 4.5%, while the PHLX Semiconductor Index (-6.1%) continues holding a sharp loss.

10:55 am: [BRIEFING.COM] The S&P 500 has climbed off its recent lows to narrow its decline to 0.3% while the Nasdaq Composite (-1.1%) is a notable laggard amid broad weakness in the chipmaker industry.

The PHLX Semiconductor Index (-6.4%) plunged out of the gate to levels last seen in mid-February. The index slashed past its 200-day moving average (594.26) and currently trades 5.0% below that mark. Including today's decline, the index has tumbled 11.5% since the start of the month, but remains higher by 5.6% since the end of last year.

Also of note, another high-beta group-biotechnology-displayed some strength early on, but now trails the broader market with the iShares Nasdaq Biotechnology ETF (IBB 267.03 -0.92) down 0.3%. Meanwhile, the health care sector (+0.5%) outperforms.

Similar to health care, the remaining countercyclical sectors trade in the green. Blue chips have also held up relatively well with the Dow up 0.2%.

10:35 am: [BRIEFING.COM]

Commodities are mostly lower again today.
Both WTI and brent crude oils are lower... precious metals and copper are lower today as well
In soft commodities, cocoa is seeing some real strength and is the best performing commodity so far today... +% at $ /mt
November WTI crude oil was below $84/barrel overnight and briefly went back there this morning.
It's since recovered a little and is now -1% at $84.88/barrel
Nov natural gas has been trading higher this morning and is now +0.8% at $3.87/MMBtu
Dec gold is -0.3% at $1221.10/oz, Dec silver -0.7% at $17.30/oz, Dec copper -0.8% at $3.01/lb

9:55 am: [BRIEFING.COM] The S&P 500 (+0.2%) continues holding a slim gain while the Nasdaq (-0.5%) remains in the red amid significant weakness in chipmaker stocks after Microchip (MCHP 40.81, -4.73) lowered its guidance below the Capital IQ consensus estimate. The stock has tumbled 10.4%, while the broader PHLX Semiconductor Index trades down 5.4%. Also of note, the top-weighted index component-Intel (INTC 32.14, -1.48)-is lower by 4.4%.

Despite the weakness in chipmakers, the Nasdaq has been able to trim its early loss with help from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 268.60, +0.65) has added 0.2% while the health care sector (+0.6%) holds a solid gain.

9:40 am: [BRIEFING.COM] The major averages began the trading day in mixed fashion. The Nasdaq Composite (-0.2%) shows an opening decline while the S&P 500 is higher by 0.2% with four sectors on the defensive.

The technology sector (-0.5%) is the weakest performer, which helps explain the underperformance of the Nasdaq. Outside of technology, growth-sensitive industrials (-0.2%), materials (-0.2%), and energy (-0.5%) also trail the broader market.

On the upside, consumer staples (+1.0%), financials (+0.6%), health care (+0.7%), and consumer discretionary (+0.4%) display early strength.

Treasuries remain flat with the 10-yr yield at 2.31%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -14.50. The stock market is on track for a mixed open with futures on the S&P 500 trading right above fair value while Nasdaq futures lag. Futures on the benchmark index poked their head into the green before European markets opened for action, but fell to lows alongside indices on the old continent. Despite the slide, S&P futures have been able to reclaim their losses, while Nasdaq futures remain pressured (-0.4%).

Also of note, the Dollar Index (85.83, +0.30) is on the rise once again, while crude oil trades lower by 1.2% at $84.78/bbl to extend its October loss to 7.2%.

Treasuries have surrendered their slim gains with the 10-yr yield at 2.31%.

On the corporate front, Infosys (INFY 62.45, +3.04) is on track to open higher by 5.1% after beating bottom-line estimates and reaffirming its sales guidance. Elsewhere, Family Dollar (FDO 77.02, -0.73) is on course for a lower open following its below-consensus earnings on better than expected revenue.

9:01 am: [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: -11.50. The S&P 500 futures trade three points above fair value after reclaiming their overnight losses.

Markets tumbled across Asia.

The latest Bank of Japan minutes voiced concerns over the weakness in the export sector. Elsewhere, today's scheduled meeting between Hong Kong's government and student leaders has been called off.

In economic data:
Japan's Household Confidence slipped to 39.9 from 41.2 (expected 42.2) while Tertiary Industry Activity Index decreased 0.1% month-over-month (expected 0.2%; last -0.3%)
Australia's Home Loans fell 0.9% month-over-month (expected 0.1%; prior 0.3%)

------

Japan's Nikkei fell 1.2% to a two-month low. The stronger yen continued to weigh on exporters as Honda Motor sank 1.5% and Canon lost 1.2%.
Hong Kong's Hang Seng lost 1.9%, falling back below the 200-day moving average. Energy stocks were pressured amid continued weakness in crude oil, causing Cnooc to slide 4.0% and PetroChina to give up 2.5%.
China's Shanghai Composite slid 0.6%, falling for the first time in nine sessions. Financials saw in-line losses as Bank of Communications and Bank of Beijing both lost 0.7%.
India's Sensex slumped 1.3% to close near two-month lows. Infosys (+6.6%) outperformed following its better than expected results.

Major European indices trade lower across the board with Germany's DAX (-2.1%) trailing the region amid speculation the country's government could lower its GDP forecast for 2014 and 2015.

Participants received several data points:
Great Britain's trade deficit narrowed to GBP9.10 billion from GBP10.41 billion (expected deficit of GBP9.60 billion) and CB Leading Index rose 0.4% month-over-month (prior 0.1%)
French Industrial Production was unchanged month-over-month (expected -0.2%; last 0.3%)
Italy's Industrial production ticked up 0.3% month-over-month (expected 0.5%; previous -1.0%), while the year-over-year reading declined 0.7% (forecast -0.2%; prior -1.6%)

------

Germany's DAX is lower by 1.5% with Infineon Technologies leading the weakness. The tech stock has surrendered 4.1%. Exporters also lag with BMW and Volkswagen both down near 1.5%. On the upside, Fresenius Medical Care trades higher by 1.6%.
In France, the CAC trades down 0.9%. Oil services company Technip leads the retreat with a loss of 4.5%. Carrefour is the top performer, up 1.3%.
Great Britain's FTSE has given up 0.9% amid broad weakness. Consumer names are among the weakest performers with TUI Travel, Carnival, and Sports Direct International down between 1.3% and 5.5%.
Spain's IBEX outperforms with a loss of 0.1%. A handful of banks display strength with Bankia, Bankinter, BBVA, and Santander up between 0.9% and 1.7%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -5.20. Nasdaq futures vs fair value: -28.30. The S&P 500 futures trade five points below fair value.

Export prices, excluding agriculture, decreased 0.2% in September after decreasing 0.2% in the prior reading. Excluding oil, import prices ticked down 0.1%, which followed last month's unchanged reading.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -25.50. U.S. equity futures hover in the red amid cautious action overseas with the S&P 500 futures five points below fair value. Index futures made a brief overnight appearance in the green, but slumped alongside European markets once they opened for the day. The S&P 500 futures hit their low just before 6:30 ET and have recovered about a half of the decline.

With global equities facing broad pressure, the Dollar Index represents one of few bright spots. The index (85.76, +0.24) is higher by 0.3% with the greenback showing gains against the euro (+30 pips) and the pound (+70 pips).

Treasuries hold modest gains with the 10-yr yield down one basis point at 2.30%.

Import/Export Prices for September will be announced at 8:30 ET while the September Treasury Budget (Briefing.com consensus $106 billion) will be released at 14:00 ET.

In U.S. corporate news of note:

Barracuda Networks (CUDA 26.82, +0.18): +0.7% after beating earnings and revenue estimates.
Infosys (INFY 63.38, +3.97): +6.7% following its bottom-line beat and reaffirmed sales guidance.

Reviewing overnight developments:

Asian markets ended lower. China's Shanghai Composite -0.6%, Japan's Nikkei -1.2%, and Hong Kong's Hang Seng -1.9%
In economic data:
Japan's Household Confidence slipped to 39.9 from 41.2 (expected 42.2) while Tertiary Industry Activity Index decreased 0.1% month-over-month (expected 0.2%; last -0.3%)
Australia's Home Loans fell 0.9% month-over-month (expected 0.1%; prior 0.3%)
In news:
Japan is bracing for typhoon Vongfong, which is expected to make landfall this weekend and will be the strongest storm of the year

Major European indices trade lower across the board. Great Britain's FTSE -1.1%, France's CAC -1.2%, and Germany's DAX -1.9%. Elsewhere, Italy's MIB -1.2% and Spain's IBEX -0.8%
Participants received several data points:
Great Britain's trade deficit narrowed to GBP9.10 billion from GBP10.41 billion (expected deficit of GBP9.60) and CB Leading Index rose 0.4% month-over-month (prior 0.1%)
French Industrial Production was unchanged month-over-month (expected -0.2%; last 0.3%)
Italy's Industrial production ticked up 0.3% month-over-month (expected 0.5%; previous -1.0%), while the year-over-year reading declined 0.7% (forecast -0.2%; prior -1.6%)
Among news of note:
Germany's DAX trails other regional indices amid speculation the country's government could lower its GDP forecast for 2014 and 2015

6:39 am: [BRIEFING.COM] S&P futures vs fair value: -9.50. Nasdaq futures vs fair value: -35.50.

6:39 am: [BRIEFING.COM] Nikkei...15,300.55...-178.40...-1.20%. Hang Seng...23,088.54...-446.00...-1.90%.

6:39 am: [BRIEFING.COM] FTSE...6,338.70...-93.20...-1.40%. DAX...8,804.44...-200.60...-2.20%.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
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