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 Post subject: November 28th Friday Trade Results - Profit $310.00
PostPosted: Fri Nov 28, 2014 4:25 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 2929
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)
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Attachment:
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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 @ $310.00 dollars or +3.10 points, Emini ES ($ES_F) futures @ $0.00 dollars or +00.00 points, Light Crude Oil CL ($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 @ $310.00 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

Trade Log: 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 in ##TheStrategyLab chat room 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=136&t=1945

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=250&t=2561

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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

1:30 pm: [BRIEFING.COM] The stock market endured some post-Thanksgiving indigestion brought on by severe weakness in the energy sector (-6.4%). The S&P 500 (-0.3%) ended at its lowest point of the day while the Nasdaq (+0.1%) eked out a slim gain thanks to the absence of energy stocks within the tech-heavy index.

Equities began the Black Friday session with investors paying more attention to the oil pits than mall parking lots as black gold was taking a beating. This morning, crude oil was trading near $69.00/bbl after yesterday's OPEC decision to maintain output at 30 million barrels per day. That represented a 6.0% loss, which led to comparable weakness in the energy sector.

Despite the plunge in energy, the market was able to recover with help from health care (+0.6%), technology (+0.5%), and the two consumer sectors (discretionary +1.2%; staples +1.3%), both of which benefited from strength among retailers. Dow component Wal-Mart (WMT 87.54, +2.56) spiked 3.0% after more than 22 million customers visited Wal-Mart stores on Thursday, suggesting a strong start to the holiday shopping season. The broader SPDR S&P Retail ETF (XRT 94.31, +0.84) advanced 0.9%.

However, as the session neared the end, the focus shifted to the oil pits once again where crude dropped below yesterday's low to $67.28/bbl, representing an 8.7% decline.

In turn, the slide in crude pressured the energy sector, and the broader market, to a fresh low for the day. Major sector components took a beating with BP (BP 39.32, -2.27), Chevron (CVX 108.87, -6.24), ExxonMobil (XOM 90.54, -3.94), and Halliburton (HAL 42.20, -5.14) sinking between 4.2% and 10.9%.

Elsewhere, the materials sector (-2.3%) could not escape the overall weakness among commodities. Copper tumbled 3.7% to $2.847/lb while gold fell 2.5% to $1.167.80/ozt. Last, but not least, silver cratered 7.0% to $15.44/ozt. Miners and steelmakers felt the weight with Market Vectors Steel ETF (SLX 39.50, -1.42) and Market Vectors Gold Miners ETF (GDX 18.36, -1.74) plunging 3.5% and 8.7%, respectively.

Making matters worse for commodities was the strengthening dollar, evidenced by a 0.5% advance in the Dollar Index (88.41, +0.39).

The commodity weakness also pressured some components of the industrial sector (-0.8%) like Caterpillar (CAT 100.60, -5.19), which fell 4.9%. However, the sector was able to avoid larger losses thanks to a flat finish from the Dow Jones Transportation Average. Still, the bellwether surrendered its intraday gain after a tug-of-war between railroad stocks and airlines. Rail carriers, who benefit from higher oil prices, tumbled with CSX (CSX 36.49, -1.42), Norfolk Southern (NSC 111.67, -5.53), and Union Pacific (UNP 116.81, -6.00) falling between 3.8% and 4.9%. In turn, air carriers like Delta Air Lines (DAL 46.67, +2.43) and United Continental (UAL 61.23, +4.63) cheered lower fuel prices, soaring higher by 5.5% and 8.2%, respectively.

When the dust settled, the major outage in the energy sector proved too much for the stock market to overcome. Furthermore, the inability of the sector to recover even a small portion of its losses, led to profit taking from areas that displayed strength. For instance, the iShares Nasdaq Biotechnology ETF (IBB 303.90, +0.03) ended flat after being up near 1.0% at the start. Meanwhile, small caps made new lows into the afternoon with the Russell 2000 ending lower by 1.5%.

Treasuries benefited from the sloppy equity session with the 10-yr yield sliding five basis points to 2.18%.

Participation was relatively heavy considering the abbreviated session. More than 635 million shares changed hands at the NYSE floor.

Monday's data will be limited to the November ISM Index, which will be released at 10:00 ET (Briefing.com consensus 58.0).

Week in Review: Stocks Climb Into Thanksgiving

The major averages kicked off the holiday-shortened week with an advance that was paced by the Russell 2000 (+1.2%). The small-cap index was followed by the Nasdaq Composite (+0.9%) while the Dow (+0.04%) and S&P 500 (+0.3%) ended closer to their flat lines. Stocks rallied out of the gate with upbeat action overseas contributing to the early strength. Equities in China and Hong Kong spiked in reaction to Friday's PBoC rate cut while European markets were boosted by increased expectations of a forthcoming sovereign QE program from the European Central Bank. To that point, Credit Suisse said it expects the ECB to announce plans for sovereign asset purchases in December. ECB member and German Bundesbank President Jens Weidmann pushed back against the easing expectations, reminding that monetary policy alone is unable to create growth and requires corresponding measures from the fiscal side. Despite Mr. Weidmann's comments, the market's expectation for more QE manifested itself through increased demand for Italian and Spanish debt. Italian and Spanish 10-yr yields both fell five basis points to their respective 2.15% and 1.97%.

Equities ended the Tuesday session on a flat note. The S&P 500 shed 0.1% after spending the day in a ten-point range while the other indices also settled near their unchanged levels. Despite the flat finish, equity indices rallied at the start after the second revision to Q3 GDP surprised to the upside (3.9%; Briefing.com consensus 3.2%). However, the opening spike marked the session high for the S&P 500, which returned to unchanged by the end of the first hour.

The key indices ended Wednesday near their best levels of the day with the Nasdaq Composite (+0.6%) finishing in the lead. The S&P 500 settled higher by 0.3% while the Dow Jones Industrial Average hovered near its flat line throughout the session. Meanwhile, the benchmark index spent the day in a slow and steady advance despite a heavy batch of disappointing economic data that was reported on Wednesday. The index did show some signs of defensive posturing as all four countercyclical sectors ended ahead of the market while cyclical sectors traded in mixed fashion. The telecom services sector (+1.2%) finished in the lead after trending higher throughout the day, but more notably, the heavily-weighted health care sector (+0.7%) posted a solid gain with help from biotechnology.

12:30 pm: [BRIEFING.COM] Equity indices have retreated from their recent levels with the S&P 500 (-0.2%) returning into the neighborhood of its opening low while the Russell 2000 (-0.6%) has slid to its worst level of the day.

After opening in the red, the S&P 500 was able to poke its head back into the green with help from influential sectors like consumer staples (+1.3%), consumer discretionary (+1.2%), technology (+0.6%), and health care (+0.6%). However, the solid gains in those groups have been unable to overshadow the continued weakness of the energy sector (-6.4%), where dip buyers have been few and far between. The sector is testing its opening low into the home stretch and that weakness appears to be causing some profit taking in today's areas of strength. Biotechnology has given up the bulk of its gain with the iShares Nasdaq Biotechnology ETF (IBB 304.19, +0.32) trimming its gain to 0.1% after being up 1.0%.

Similarly, today's leading sectors have ticked down from their highs.

12:00 pm: [BRIEFING.COM] Not much change in the major averages with the session entering its final hour. The S&P 500 continues trading within a couple points of its flat line, but the unchanged standing masks some big moves below the surface.

Of the ten sectors, five have moved in excess of 1.0% with energy (-5.9%) leading to the downside while consumer staples (+1.4%) and consumer discretionary (+1.4%) continue jockeying for the lead. The staples sector has received a major boost from Wal-Mart (WMT 87.77, +2.79), which has spiked 3.3%. The company said more than 22 million customers visited Wal-Mart stores on Thursday, suggesting a strong start to the holiday shopping season.

Elsewhere, Treasuries have continued their advance, pressuring the 10-yr yield to 2.20% (-3 bps).

11:25 am: [BRIEFING.COM] Recent action saw the S&P 500 (+0.1%) fight its way to a fresh high. However, 'fight' is the operative word as the index remains weighed down by the plunge in the energy sector (-5.6%).

On the upside, the two consumer sectors have done yeomen's work, which has allowed the S&P 500 to inch away from its flat line. The consumer staples sector has added 1.4% while the discretionary space trades up 1.3% with retailers showing broad strength. The SPDR S&P Retail ETF (XRT 94.95, +1.48) has jumped 1.6%.

Although retail leads, homebuilders have also contributed to the strength in the discretionary sector with the iShares Dow Jones US Home Construction ETF (ITB 26.00, +0.14) higher by 0.5%.

10:55 am: [BRIEFING.COM] The major averages hover near their best levels of the session with the Nasdaq (+0.4%) outperforming. The tech-heavy index, which doesn't include energy stocks, has received support from biotechnology and chipmakers. The iShares Nasdaq Biotechnology ETF (IBB 306.89, +3.02) has extended its advance to 1.0% while the PHLX Semiconductor Index trades up 0.4%.

Most large cap tech components have also been able to pull their weight with Microsoft (MSFT 48.16, +0.41), Oracle (ORCL 42.35, +0.48), and Visa (V 258.91, +1.65) up between 0.6% and 1.1%.

Elsewhere, the S&P 500 has yet to pull away from its flat line as the energy sector (-6.3%), which accounts for roughly 10.0% of the index, remains heavy. Crude oil, meanwhile, trades lower by 6.4% at $68.98/bbl.

10:35 am: [BRIEFING.COM]

Oil prices are the big story today following news that OPEC did not cut production
Many energy stocks are getting slammed today, WTI crude oil remains near $69/barrel
Oil, nat gas, gold, silver and copper are all modestly above today's lows
Jan crude oil is now -6.2% at $69.15/barrel
Jan nat gas is sitting 3.5% lower at $4.20/MMBtu
Dec gold -1.3% at $1181.70/oz, Dec silver -4.9% at $15.74/oz, Dec copper -3.1% at $2.87/lb

10:00 am: [BRIEFING.COM] The S&P 500 remains near its flat line with investors reconciling the sharp drop in the energy sector (-6.0%). As mentioned in our opening update, the weakness has spilled over to other growth-sensitive sectors like materials (-1.6%) and industrials (-0.1%).

However, the modest downtick in the industrial sector masks significant strength among transport stocks. Railroads have been pressured by the weakness in crude, but airlines have filled the void as they benefit from lower fuel prices. CSX (CSX 37.18, -0.73), Norfolk Southern (NSC 114.91, -2.29), and Union-Pacific (UNP 120.61, -2.20) are all down near 2.0% while Alaska Air (ALK 59.42, +3.22), Delta Air Lines (DAL 46.81, +2.57), and United Continental (UAL 60.26, +3.66) hold gains between 5.8% and 6.5%.

9:45 am: [BRIEFING.COM] As expected, the S&P 500 (-0.1%) began the session under modest pressure stemming from the early weakness in the energy sector (-5.8%), which has slumped in reaction to the 5.8% decline in crude oil ($69.41/bbl). Furthermore, other commodity-related sectors like materials (-1.7%) and industrials (-0.2%) have also faced early pressure.

On the upside, the two consumer sectors have shown early strength. Consumer staples (+1.1%) lead while the discretionary sector (+0.9%) follows right behind. Also of note, health care has been boosted by early strength in biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 305.71, +1.84) higher by 0.6%. This has helped the Nasdaq (+0.2%) register an opening advance.

Treasuries remain in the green with the 10-yr yield down two basis points at 2.21%.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: -1.90. Nasdaq futures vs fair value: +9.80. The stock market is on track to begin the abbreviated Friday session on a slightly lower note. The S&P 500 futures trade two points below fair value after slipping at the start of the European session.

Traditionally, Fridays after Thanksgiving feature breathless reports from nondescript malls in the Northeast, focusing on the crowd volumes in an attempt to craft a narrative about holiday spending trends. However, instead of focusing on Black Friday sales today, investors are more likely to respond to what happened to black gold while U.S. markets were closed on Thursday.

Yesterday, the Organization of the Petroleum Exporting Countries [OPEC] chose to leave its output quota unchanged at 30 million barrels per day. That news sent crude oil below the $70.00/bbl level in short order. Currently, the energy component is lower by 5.9% at $69.35/bbl with the weakness likely to weigh on the energy sector. To that point, Dow components Chevron (CVX 111.20, -3.91) and ExxonMobil (XOM 91.04, -3.44) are indicated to open lower by 3.4% and 3.6%, respectively.

Treasuries hold modest gains with the 10-yr yield lower by two basis points at 2.21%.

Investors did not receive any economic data today and the New York Stock Exchange will close at 13:00 ET.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -1.90. Nasdaq futures vs fair value: +9.90. The S&P 500 futures trade two points below fair value.

The major Asian indices ended mostly higher with China's Shanghai Composite (+2.0%) pacing the rally. According to the Wall Street Journal, China is preparing to launch a system for insuring bank deposits up to CNY500,000

In economic data:
Japan's National CPI eased to 2.9% from 3.2% year-over-year (expected 3.0%) while National Core CPI also came in at 2.9%, as expected. Tokyo CPI increased 2.1% year-over-year (consensus 2.3%; prior 2.5%) while Tokyo Core CPI came in at 2.4% (expected 2.3%; last 2.5%). Also of note, Industrial Production ticked up 0.2% month-over-month (expected -0.4%; last 2.9%), Retail Sales rose 1.4% year-over-year (consensus 1.5%; last 2.3%), and Household Spending fell 4.0% year-over-year (expected -4.8%; previous -5.6%), and the Unemployment Rate eased to 3.5% from 3.6% (expected 3.6%)
South Korea's Industrial Production fell 1.6% month-over-month (consensus 0.8%; last 0.0%)
Australia's Private Sector Credit rose 0.6% month-over-month (expected 0.5%; previous 0.5%)

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Japan's Nikkei rose 1.2% with exporters showing strength. Olympus, Konica Minolta, and Sony gained between 4.0% and 4.5%.
Hong Kong's Hang Seng shed 0.1%. Energy names kept a lid on the index with CNOOC, PetroChina, and Kunlun Energy down between 3.1% and 5.5%. Bank of Communications outperformed, surging 6.5%.
China's Shanghai Composite advanced 2.0% with help from financials. China Everbright Bank and China CITIC Bank Corp both surged the limit, 10.0%

Major European indices trade lower with Italy's MIB (-0.6%) leading the decline. Italian debt has been in demand following a spike in the Unemployment Rate. The country's benchmark yield is lower by three basis points at 2.04% while Spain's 10-yr is holding its ground at 1.90%.

Economic data was plentiful:
Eurozone CPI rose 0.3% year-over-year while Core CPI climbed 0.7%. Both figures matched expectations. The Unemployment Rate held at 11.5%, as expected
Germany's Retail Sales rose 1.9% month-over-month (expected 1.7%; last -2.8%)
Great Britain's Nationwide HPI rose 8.5% year-over-year (expected 8.6%; previous 9.0%)
French Consumer Spending fell 0.9% month-over-month (expected 0.2%; prior -0.5%) while PPI slipped 0.2% month-over-month (consensus 0.0%; last 0.5%)
Italy's CPI ticked down 0.2% month-over-month (expected -0.3%; last 0.1%) while the year-over-year reading inched up 0.2% (consensus 0.0%; previous 0.1%). Separately, PPI slipped 0.4% month-over-month (prior 0.0%) and the monthly Unemployment Rate rose to 13.2% from 12.9% (consensus 12.6%)
Spain's Retail Sales rose 1.0% year-over-year (expected 2.0%; prior 0.8%) and the Current Account surplus narrowed to EUR440 million from EUR1.29 billion

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Great Britain's FTSE is lower by 0.2% with energy names facing broad pressure. BG Group, Tullow Oil, and BP are down between 2.5% and 7.4%. Consumer names outperform with Kingfisher and Marks & Spencer group up 2.8% and 1.3%, respectively
In France, the CAC has given up 0.3%. Energy names also lag with Total and Technip both down near 3.0% while Gemalto leads with a gain of 1.0%
Germany's DAX trades down 0.2%. Conglomerates BASF and Siemens weigh with respective losses of 1.9% and 1.6% while Deutsche Lufthansa outperforms. The airline has jumped 3.4%
Italy's MIB underperforms with a loss of 0.6%. Saipem is the weakest performer, down 4.9% while many financials also trade in the red. BMPS, Mediobanca, UBI Banca, and Unicredit are down between 0.7% and 1.2%

8:29 am: [BRIEFING.COM] S&P futures vs fair value: -2.90. Nasdaq futures vs fair value: +9.40. U.S. equity futures continue facing modest pressure with the S&P 500 futures three points below fair value. The few participants who are getting ready for today's session have not received any economic data or earnings of note. With that in mind, the energy sector is likely to be today's focal point after OPEC's decision to leave production quotas unchanged.

That news has weighed on crude oil, which has been trying to pare its losses. The energy component has been able to add about 50 cents from yesterday's low, but remains down 5.9% at $69.31/bbl. This has led to early weakness in major energy names like Chevron (CVX 111.60, -3.51), EOG Resources (EOG 89.00, -5.07), ExxonMobil (XOM 91.17, -3.31), and Halliburton (HAL 44.97, -2.37).

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -1.60. Nasdaq futures vs fair value: +9.70. U.S. equity futures trade modestly lower amid cautious action overseas. The S&P 500 futures hover two points below fair value with the bulk of the weakness occurring after markets in Europe opened for action. European indices enjoyed an upbeat session yesterday, but they are giving back those gains today.

Crude oil has been under pressure since yesterday after an OPEC meeting resulted in no changes to production quotas. The energy component is currently lower by 6.4% at $69.01/bbl.

Treasuries hold gains with the 10-yr yield down two basis points at 2.21%.

There is no economic data on today's schedule and the stock market will close at 13:00 ET.

In U.S. corporate news of note:

Airline names have shown pre-market strength following the drop in fuel prices. Delta Air Lines (DAL 46.51, +2.27) and United Continental (UAL 59.60, +3.00) are both up near 5.0% in pre-market action
Conversely, major energy companies have been pressured by the weakness in crude. BP (BP 39.25, -2.34), Chevron (CVX 110.50, -4.61), and ExxonMobil (XOM 90.95, -3.53) are down between 3.7% and 5.6%

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +1.2%, China's Shanghai Composite +2.0%, and Hong Kong's Hang Seng -0.1%
In economic data:
Japan's National CPI eased to 2.9% from 3.2% year-over-year (expected 3.0%) while National Core CPI also came in at 2.9%, as expected. Tokyo CPI increased 2.1% year-over-year (consensus 2.3%; prior 2.5%) while Tokyo Core CPI came in at 2.4% (expected 2.3%; last 2.5%). Also of note, Industrial Production ticked up 0.2% month-over-month (expected -0.4%; last 2.9%), Retail Sales rose 1.4% year-over-year (consensus 1.5%; last 2.3%), and Household Spending fell 4.0% year-over-year (expected -4.8%; previous -5.6%), and the Unemployment Rate eased to 3.5% from 3.6% (expected 3.6%)
South Korea's Industrial Production fell 1.6% month-over-month (consensus 0.8%; last 0.0%)
Australia's Private Sector Credit rose 0.6% month-over-month (expected 0.5%; previous 0.5%)
In news:
According to the Wall Street Journal, China is preparing to launch a system for insuring bank deposits up to CNY500,000

Major European indices trade mostly lower. Great Britain's FTSE -0.4%, France's CAC -0.3%, and Germany's DAX -0.3%. Elsewhere, Italy's MIB -0.5% and Spain's IBEX +0.1%
Economic data was plentiful:
Eurozone CPI rose 0.3% year-over-year while Core CPI climbed 0.7%. Both figures matched expectations. The Unemployment Rate held at 11.5%, as expected
Germany's Retail Sales rose 1.9% month-over-month (expected 1.7%; last -2.8%)
Great Britain's Nationwide HPI rose 8.5% year-over-year (expected 8.6%; previous 9.0%)
French Consumer Spending fell 0.9% month-over-month (expected 0.2%; prior -0.5%) while PPI slipped 0.2% month-over-month (consensus 0.0%; last 0.5%)
Italy's CPI ticked down 0.2% month-over-month (expected -0.3%; last 0.1%) while the year-over-year reading inched up 0.2% (consensus 0.0%; previous 0.1%). Separately, PPI slipped 0.4% month-over-month (prior 0.0%) and the monthly Unemployment Rate rose to 13.2% from 12.9% (consensus 12.6%)
Spain's Retail Sales rose 1.0% year-over-year (expected 2.0%; prior 0.8%) and the Current Account surplus narrowed to EUR440 million from EUR1.29 billion
Among news of note:
Italian debt has been in demand following the spike in the Unemployment Rate. The country's benchmark yield is lower by two basis points at 2.05% while Spain's 10-yr holds flat at 1.90%

6:47 am: [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: +7.00.

6:47 am: [BRIEFING.COM] Nikkei...17,459.85...+211.40...+1.20%. Hang Seng...23,987.45...-16.80...-0.10%.

6:47 am: [BRIEFING.COM] FTSE...6,675.60...-47.70...-0.70%. DAX...9,937.14...-37.30...-0.40%.

Oil Tumbles Below $70 as Stocks Drop; Bonds, Dollar Rally

By Callie Bost and Eric Lam Nov 28, 2014 3:26 PM ET

Oil plunged below $70 a barrel for the first time since 2010, leading a selloff in commodities and energy shares. Treasuries advanced and the dollar reached a five-year high, while retailers rose amid Black Friday sales.

West Texas Intermediate tumbled 10 percent to $66.15 for the biggest drop in more than five years. The Bloomberg Dollar Spot Index climbed to a five-year high as of 3:24 p.m. in New York, while gold sank 1.8 percent. Yields on 10-year Treasuries dropped 8 basis points to the lowest in more than five weeks, and Japan’s two-year rates turned negative for the first time. The Standard & Poor’s 500 Index dropped 0.3 percent and the Russell 2000 Index fell 1.5 percent, as U.S. markets reopened after the Thanksgiving holiday.

The Organization of Petroleum Exporting Countries kept its production ceiling unchanged, underscoring the price war in the crude market and challenge to U.S. shale drillers. The rout in oil is damping inflation, with price growth slowing in Japan and Germany and already negative in Spain. Wal-Mart Stores Inc. and United Parcel Service Inc. jumped as shoppers go to stores and online for the Black Friday weekend.

Oil Prices

“OPEC’s decision yesterday came as a surprise when looking at the market reaction and made investors more cautious,” said Tobias Britsch who helps oversee about $30 billion at Meriten Investment Management GmbH, in Dusseldorf, Germany. “This could hurt a year-end rally. I would not touch oil and gas stocks as it’s far too risky now.”
Photographer: RJ Sangosti/The Denver Post via Getty Images

Crews work at Anadarko's centralized fracking facility and drill site near Fort Lupton,... Read More
Oil Slump

Brent slipped 3.3 percent and West Texas Intermediate crude oil dropped 10 percent from its Nov. 26 close. The moves sent the Bloomberg Commodity Index down 3.9 percent, its biggest drop since September 2011. WTI has lost 33 percent this year, while Brent has plunged 37 percent. Both grades capped the biggest monthly drops since 2008.

The repercussions were felt through asset classes. Oil and gas producers in the MSCI All-Country World Index dropped for a fifth day, the longest streak in more than a month. That sent the gauge down 0.4 percent today, trimming its monthly gain to 1.5 percent. The MSCI Emerging Markets Index slid 1 percent, extending its November decline to 1.3 percent.

In the U.S., where markets were closed yesterday for the Thanksgiving holiday, retailers rallied and energy companies slid. The S&P 500 has added 11 percent since a low in October and capped a 2.5 percent monthly gain today. U.S. equity markets shut at 1 p.m. New York time today.
Photographer: Samuel Kubani/AFP/Getty Images

A general view shows the 166th ordinary meeting of the Organization of the Petroleum... Read More

Wal-Mart surged 3 percent, the most in the Dow Jones Industrial Average, and J.C. Penney Co. climbed 3.4 percent. UPS gained 2.8 percent and Amazon.com Inc. added 1.5 percent. The National Retail Federation projected a 4.1 percent gain in retail sales in November and December, the biggest increase since 2011.

The Nasdaq 100 Index increased 0.5 percent.

Retail Sales

“Retail sales and Internet retail sales show yesterday was a good day,” Dan Heckman, Kansas City, Missouri-based national investment consultant at U.S. Bank Wealth Management, said by phone. His firm oversees about $120 billion. “With the drop in oil we think this will be a tremendous holiday season. Investors are going to watch which sectors will be impacted by the decline in oil.”

Exxon Mobil Corp. and Chevron Corp., the energy companies with the biggest weightings on the S&P 500, dropped more than 4.2 percent. Credit-default swaps on Shell, Europe’s biggest oil company, were the worst performing in the Markit iTraxx Europe Index this month, followed by increases in Eni SpA, Statoil ASA and Total.

Airlines rallied, with Air France-KLM Group and Deutsche Lufthansa AG up more than 4.9 percent. American Airlines Group Inc. added 7.9 percent, and Delta Air Lines Inc. gained 5.5 percent.

Europe Stocks

Europe’s Stoxx 600 fell for the first time in six days, sliding from a two-month high. That trimmed this month’s advance to 3.1 percent, still the biggest since February. Germany’s DAX Index added 0.1 percent for a 12th straight gain, approaching its July record.

Government securities advanced as tumbling oil prices cooled the outlook for inflation, preserving the value of fixed payments on bonds. Ten-year U.S. Treasuries, which didn’t trade yesterday, climbed for a sixth day, pushing yields down 8 basis points to 2.17 percent, the lowest level in more than a month.

Treasuries stopped trading at 2 p.m. New York time, according to a recommendation from the Securities Industry and Financial Markets Association.

The rate on Japan’s two-year notes slid to as low as minus 0.005 percent, according to Japan Bond Trading Co. In Europe, Austrian, Belgian, Dutch, Finnish, French, Irish, Spanish, Italian and Portuguese yields all dropped to records with those in Germany. Australian and British 10-year yields declined to 18-month lows.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, rose 0.6 percent to its highest level on a closing basis since March 2009.

Commodity Currencies

Currencies of commodity-producing nations were among the biggest losers against the dollar. Norway’s krone extended yesterday’s 1.5 percent slump, dropping 1.5 percent to the weakest level since March 2009. Norway is the biggest oil producer in Western Europe.

Canada’s currency, known as the loonie, weakened 0.8 percent after sinking 0.8 percent yesterday. Australia’s dollar was down 0.4 percent to 85.07 U.S. cents.

Metals declined as lower oil prices added to concerns over deflation. Gold sank 1.8 percent to $1,175.50 an ounce, and silver dropped 6.3 percent to $15.56 an ounce. Copper slid 3.7 percent to a four-year low as a strike at Peru’s Antamina mine, the world’s sixth-largest, was set to end. Prices fell 6 percent this week.

The ruble weakened to a record low, down 3.5 percent to 50.40 per dollar. It extended this month’s slide to 15 percent, the most among 31 major peers. Russia’s currency has depreciated 35 percent this year as sanctions over Ukraine and the slump in oil price exacerbate an economic slowdown, leaving the country on the brink of recession.

In China, the Shanghai Composite Index capped its biggest weekly advance in four years, with today’s 2 percent gain leaving it 7.9 percent higher over five days. Stocks rallied amid speculation the central bank may continue to loosen monetary policy after cutting rates a week ago. The Hang Seng China Enterprises Index of mainland companies listed in Hong Kong added 1.2 percent today.

To contact the reporters on this story: Callie Bost in New York at cbost2@bloomberg.net; Eric Lam in Toronto at elam87@bloomberg.net

To contact the editors responsible for this story: Jeff Sutherland at jsutherlan13@bloomberg.net Cecile Vannucci

MarketWatch

Oil Plunges to Five-Year Low Amid Fears of Growing Glut

By Claudia Assis and Eric Yep

SAN FRANCISCO (MarketWatch) —Oil futures on Friday settled at their lowest in five years as the Organization of the Petroleum Exporting Countries’ decision to keep crude production the same heightened fears that the existing glut in the oil market would persist.

It was the first chance for U.S. markets to react to the cartel’s move, announced Thursday, and the flurry of selling intensified as closing time neared — adding to downward momentum that was already threatening to be severe.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January CLF5, -10.45% was off $7.54, or 10%, to settle at $66.15 a barrel on Friday.

That was the lowest settlement for a front-month oil contract since Sept. 25, 2009, and it brought crude’s monthly losses to 18%, the largest one-month percentage decline since December 2008.

On the week, futures declined nearly 14%.

January Brent crude LCOF5, -3.53% on London’s ICE Futures exchange fell $2.43, or 3.4%, to finish at $70.15 a barrel. That was Brent’s lowest settlement since May 25, 2010.

Brent had fallen more than 6% on Thursday, when the Nymex floor trading was closed for Thanksgiving.

Brent, viewed as the global oil benchmark, also lost 18% on the month. Brent and WTI have been down for five straight months.

OPEC’s announcement on Thursday dashed hopes of an output cut that could boost prices, with the cartel showing it was willing to withstand the lower prices in order to defend its market share.

Market share has been under threat from growing production from countries outside OPEC, including shale-oil production from the U.S. and output from Latin American countries and from Russia.

Oil prices have lost nearly 40% of their value since a peak in June, and OPEC’s decision to maintain its current production ceiling of 30 million barrels a day does little to remove the glut that has kept oil prices low.

New York-traded oil is likely to stay around $65 a barrel for the next couple of months, said Darin Newsom, a senior commodity analyst with DTN.

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)
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