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 Post subject: November 5th Wednesday Trade Results - Profit $1210.00
PostPosted: Wed Nov 05, 2014 11:18 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 @ $1,210.00 dollars or +12.10 points, Emini ES ($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 @ $1,210.00 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 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=1928

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

4:10 pm: [BRIEFING.COM] The stock market registered a midweek gain with the S&P 500 climbing 0.6% to a fresh record high at 2,023.57. The benchmark index maintained a ten-point range while the Nasdaq Composite (-0.1%) spent the bulk of the day near its flat line.

Equities climbed at the start after yesterday's midterm elections in the U.S. altered the balance of power in Washington. The GOP picked up seven Senate seats to claim a 52-seat majority while also adding ten seats to their majority in the House of Representatives.

In addition to giving a small overnight boost to index futures, the news helped the Dollar Index (87.45, +0.47) climb to a new multi-year high at the expense of the yen (-105 pips) and the euro (-60 pips).

Strikingly, the dollar strength did not get in the way of a rally in crude oil. The energy component surged 2.0% to $78.73/bbl with an intraday boost following reports of a diesel pipeline explosion in Saudi Arabia. However, follow-up headlines indicated the pipeline did not explode, but caught fire during maintenance work.

The spike in oil served as a supportive factor for the energy sector (+1.7%), which outperformed from the start of the session. Better than expected results from EOG Resources (EOG 96.10, +5.82) also factored into the strength, sending the stock higher by 6.5%.

Meanwhile, the remaining cyclical groups were not nearly as strong. The materials sector (+0.9%) outperformed while financials (+0.6%) and industrials (+0.6%) caught up to the S&P 500 during the final hour of the session. For its part, technology (+0.3%) was limited to a small gain as large cap names like Facebook (FB 74.83, -0.93), Google (GOOGL 555.95, -8.24), and IBM (IBM 161.82, -0.83) weighed. Intel (INTC 33.76, -0.55) also lagged, falling 1.6%, but the broader PHLX Semiconductor Index gained 0.9%.

Even though chipmakers displayed strength, that was not enough to keep the Nasdaq out of negative territory. Biotechnology pressured the index and the group's weakness caused the health care sector (-0.2%) to finish in the red. The iShares Nasdaq Biotechnology ETF (IBB 288.54, -4.80) settled lower by 1.6%.

Elsewhere among countercyclical sectors, consumer staples (+0.7%) and utilities (+2.3%) displayed strength while the telecom services sector (+0.2%) ended little changed. Consumer staples were underpinned by better than expected earnings from Mondelez (MDLZ 37.15, +2.12) while utilities rallied with help from Duke Energy (DUK 83.50, +1.27). The stock gained 1.5% despite missing earnings and revenue estimates.

Treasuries spent the bulk of the session in the red, but returned to their flat lines by the end of the day. The 10-yr yield ended at 2.34%.

Participation was ahead of average with more than 770 million shares changing hands at the NYSE floor.

Economic data included ADP Employment, ISM Services, and the MBA Mortgage Index:

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose 230K in October while the Briefing.com consensus expected an increase of 220K
The September reading was revised up to 225,000 from 213,000
The ISM Services Index dropped to 57.1 in October from 58.6 while the Briefing.com consensus expected a decline to 58.0
Even though the services sector data softened more than expected, the index remains at an elevated position and in-line with expansionary trends
The weekly MBA Mortgage Index fell 2.6% to follow last week's 6.6% drop

Tomorrow, the Challenger Job Cuts report for October will be released at 7:30 ET while weekly Initial Claims (Briefing.com consensus 285K) and Q3 Productivity/Unit Labor Costs data will cross the wires at 8:30 ET.

Nasdaq Composite +10.6% YTD
S&P 500 +9.5% YTD
Dow Jones Industrial Average +5.5% YTD
Russell 2000 +0.3% YTD

3:35 pm: [BRIEFING.COM]

WTI crude oil rallied this morning, following speculation that a pipeline exploded in Saudi Arabia and also following the weekly EIA storage data.
Dec crude rose as high as $79.35/barrel, but this didn't last very long. It quickly fell back below $78/barrel, but then went into a slow climb in afternoon trading
At the end of today's session, Dec crude rose +2% to $78.73/barrel
Nat gas was in the black all day and ended up 6.5 cents to $4.194/MMBtu
Gold, silver and copper traded in the red all day...
Dec gold lost 1.9% at $1145.20/oz, Dec silver lost -3.2% at $15.45/oz, while Dec copper fell 0.3% at $3.09/lb

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.4% with one hour remaining in the session. Considering its current level, the benchmark index is on track to end the day within a point of its opening level.

Investors received three economic reports earlier today while tomorrow's data will also feature three reports. The Challenger Job Cuts report for October will be released at 7:30 ET while weekly Initial Claims (Briefing.com consensus 285K) and Q3 Productivity/Unit Labor Costs data will cross the wires at 8:30 ET.

Although this week has been relatively quiet on the economic front, Friday morning will feature the release of the Nonfarm Payrolls report for October. The Briefing.com consensus expects the jobs report to indicate the addition of 235,000 payrolls while the Unemployment Rate is expected to remain at 5.9%.

2:30 pm: [BRIEFING.COM] Afternoon action continues with the S&P 500 (+0.5%) back at the level where it began today's session. Meanwhile, the Nasdaq Composite (-0.2%) and Russell 2000 (+0.1%) remain near their worst levels of the day.

The health care sector (-0.2%) has yet to move away from the bottom of the leaderboard while another countercyclical group-utilities (+2.3%)-has overtaken energy (+1.6%) for the top spot. Today's advance has extended the sector's year-to-date gain to 22.4% and placed it atop the 2014 leaderboard, just ahead of health care, which has jumped 21.2% since the end of 2013.

1:55 pm: [BRIEFING.COM] The S&P 500 has narrowed its gain to 0.3% while the Nasdaq Composite (-0.3%) has slipped to a new low for the day.

Although equities started the day in positive territory, the benchmark index was unable to pull away from its opening level. The S&P 500 tried to overtake its opening high shortly after 13:00 ET, but the failure to do so was followed by some profit taking.

Notably, the health care sector (-0.4%) has dropped to a new low for the day with biotechnology contributing to the weakness. The iShares Nasdaq Biotechnology ETF (IBB 289.57, -3.77) is lower by 1.3% as it trades just above its recently-established low.

1:30 pm: [BRIEFING.COM] With oil prices ($78.57, +1.38) and the energy sector (+1.8%) on the rebound today, the broader market has continued to hold up well to any selling efforts.

At this juncture, there are only two sectors not participating in the advance -- health care (-0.2%) and telecom services (-0.04%) -- and their losses are minimal.

Strikingly, the utilities sector (+1.4%) is hot on the heels of the energy sector in today's performance rankings, aided by Duke Energy (DUK 83.07, +0.84), which is up 1.0% following its better than expected third quarter earnings report.

Utilities have outperformed despite a modest bump in long-term rates today. The 10-yr yield has risen two basis points to 2.35%.

1:00 pm: [BRIEFING.COM] Equity indices hold midday gains with the S&P 500 (+0.5%) trading ahead of the Nasdaq Composite (+0.1%).

The key indices began the trading day in the green, but the S&P 500 has spent the first half of the session near its opening level. The index started at 2,020 and has held within five points of that mark.

The opening advance took place after yesterday's midterm elections in the U.S. altered the balance of power in Washington. The GOP was able to pick up seven Senate seats to claim a 52-seat majority while also adding ten seats to their majority in the House of Representatives.

Similar to equities, the Dollar Index (87.40, +0.42) has climbed with the greenback logging solid gains against the euro (+65 pips) and the yen (+95 pips). Interestingly, the dollar strength has not gotten in the way of a rally in crude oil (78.36, +1.17). The energy component trades up 1.5% after spiking in reaction to reports indicating a diesel pipeline in Saudi Arabia has exploded. Follow-up reports suggested the pipeline did not explode, but caught fire during maintenance work. Crude has ticked down from its high, but continues holding the bulk of its gain.

Meanwhile, the energy sector (+1.7%) has held the lead since the start. The growth-sensitive group finished yesterday's session at the bottom of the leaderboard, but today's advance has been underpinned by EOG Resources (EOG 96.18, +5.90). The stock has surged 6.6% in reaction to better than expected results and increased production growth guidance.

Elsewhere, the materials sector (+0.8%) is the only other outperformer among cyclical groups while the remaining four sectors hold gains close to 0.4%.

The technology space (+0.3%) has been unable to catch up to the market due to weakness in large cap names like Facebook (FB 75.45, -0.31), Google (GOOGL 557.90, -6.29), and IBM (IBM 162.15, -0.50). However, chipmakers have shown strength with the PHLX Semiconductor Index up 0.6%. The high-beta group has outperformed even as Intel (INTC 33.88, -0.43) trades lower by 1.2%.

The relative strength among microchip names has not been able to give a boost to the Nasdaq Composite, which lags amid weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 292.52, -0.82) is lower by 0.3%. Tesla (TSLA 234.73, -4.20) also weighs, trading lower by 1.8% ahead of reporting earnings.

Treasuries hover near their lows with the 10-yr yield up two basis points at 2.35%.

Economic data included ADP Employment, ISM Services, and the MBA Mortgage Index:

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose 230K in October while the Briefing.com consensus expected an increase of 220K
The September reading was revised up to 225,000 from 213,000
The ISM Services Index dropped to 57.1 in October from 58.6 while the Briefing.com consensus expected a decline to 58.0
Even though the services sector data softened more than expected, the index remains at an elevated position and in-line with expansionary trends
The weekly MBA Mortgage Index fell 2.6% to follow last week's 6.6% drop

12:30 pm: [BRIEFING.COM] Quiet action continues with the S&P 500 (+0.4%) drifting just below its best level of the session. Meanwhile, the Dow (+0.5%) trades just ahead of the benchmark index.

At this juncture, only eight Dow components hover in the red, but outside of Intel's (INTC 33.86, -0.45) 1.3% drop, the remaining decliners hold modest losses. On the upside, the top-weighted index component-Visa (V 252.00, +9.03)-leads with a 3.8% gain while three other index members are up at least 1.0%.

Elsewhere, Treasuries remain near their morning levels with the 10-yr yield up two basis points at 2.35%.

12:00 pm: [BRIEFING.COM] The S&P 500 (+0.4%) remains within five points of its session high. Furthermore, the benchmark index has traded within five points of its current level since the start of the session.

All six cyclical sectors trade in positive territory, but only two growth-sensitive groups-energy (+1.5%) and materials (+0.7%)-trade ahead of the broader market. Meanwhile, the likes of consumer discretionary, industrials, and technology hold modest gains close to 0.3% apiece.

The technology sector has yet to catch up to the market even though chipmakers have shown strength with the PHLX Semiconductor Index extending its gain to 0.6%.

The countercyclical side is also mixed with two groups-consumer staples (+0.6%) and utilities (+1.3%)-showing relative strength while the other two-health care (unch) and telecom services (-0.1%)-trail.

11:30 am: [BRIEFING.COM] Recent action saw the S&P 500 (+0.4%) return above its opening level while the Nasdaq Composite (+0.1%) has clawed out of the red.

Nine of ten sectors trade in the green while the lone decliner-telecom services-trades within 0.1% of its flat line. On the upside, the energy sector (+1.1%) has built on its strength with help from crude oil. The energy component trades higher by 0.8% at $77.78/bbl after spiking in reaction to reports indicating a diesel pipeline in Saudi Arabia has exploded. In all likelihood, short covering has contributed to the spike as crude has slid from its high after being up in excess of 1.5%.

Elsewhere, the materials sector (+0.8%) is the second-best performer after the group ended yesterday's session among the laggards.

10:55 am: [BRIEFING.COM] The major averages have slipped from their opening levels, but the S&P 500 (+0.3%) continues holding a slim gain with help from seven sectors that are trading in the green.

Meanwhile, the Nasdaq Composite (-0.1%) has spent the past 30 minutes in the red due to weakness in technology and biotechnology. The technology sector (unch) has been pressured by several large cap components like Google (GOOGL 558.02, -6.17), Microsoft (MSFT 47.36, -0.20), and IBM (IBM 162.06, -0.57). The trio hold losses between 0.3% and 1.2% while the top-weighted sector component-Apple (AAPL 108.84, +0.24)-hovers just above its flat line.

Also of note, most chipmakers have held up relatively well despite the sector's underperformance. Intel (INTC 33.75, -0.56) has given up 1.6%, but the PHLX Semiconductor Index is higher by 0.3%.

Elsewhere, the iShares Nasdaq Biotechnology ETF (IBB 291.09, -2.25) is lower by 0.8%, which has contributed to the underperformance of the Nasdaq and the health care sector (-0.3%).

10:40 am: [BRIEFING.COM]

In commodities today, energy futures are up, metals are down and agriculture is mostly lower
The dollar index has been trading higher this morning, which has been pressure commodities, excluding energy
WTI just rallied even higher following the inventory data. Dec crude is now +01.9% at $78.73/barrel
Dec nat gas +1.5% at $4.19/MMBtu
Metals are weak following strength in the dollar index
Dec gold is -1.9% at $1146/oz, Dec silver -2.9% at $15.49/oz, Dec copper -0.7% at $3/lb

10:00 am: [BRIEFING.COM] The S&P 500 (+0.3%) remains just below its opening level while the Nasdaq Composite has returned to its flat line.

Just released, the ISM Services Index for October fell to 57.1 from 58.6 while the Briefing.com consensus expected a downtick to 58.0.

9:40 am: [BRIEFING.COM] The major averages began the session amid broad strength. The S&P 500 trades higher by 0.5% with consumer staples (+1.0%) and energy (+0.8%) providing early leadership.

The energy sector was a big laggard yesterday, but the growth-sensitive group has started today's affair in a position of strength. EOG Resources (EOG 94.27, +3.92) has contributed to the strength after beating earnings estimates while crude oil is higher by 0.4% at $77.49/bbl.

Elsewhere, the technology sector (+0.2%) lags with chipmakers showing relative weakness. Intel (INTC 33.89, -0.42) has given up 1.2% after Bernstein downgraded the stock to 'Underperform' while the broader PHLX Semiconductor Index (-0.1%) hovers just below its flat line.

Treasuries remain in the red with the 10-yr yield up two basis points at 2.36%.

The ISM Services Index for October (Briefing.com consensus 58.0) will be released at 10:00 ET.

9:17 am: [BRIEFING.COM] S&P futures vs fair value: +12.00. Nasdaq futures vs fair value: +23.20. The stock market is on track for a higher open with futures on the S&P 500 trading 12 points above fair value.

Index futures have been on the rise since last evening when midterm elections in the U.S. changed the balance of power in Washington. Republicans were able to pick up seven Senate seats to claim a 52-seat majority while also adding ten seats to their majority in the House of Representatives.

Similarly, the Dollar Index (87.36, +0.38) has also climbed, rising to a fresh multi-year high. The greenback has picked up significant ground against the yen (+100 pips) and the euro (+50 pips).

On the economic front, the ADP Employment report surpassed estimates, indicating the addition of 230,000 nonfarm private business sector jobs in October versus 220,000 that was expected by the Briefing.com consensus. Today's final data point-October ISM Services Index-will be released at 10:00 ET (consensus 58.0).

Among corporate news of note, EOG Resources (EOG 95.50, +5.22) is on track to open higher by 5.9% after beating earnings estimates, which should give a boost to the energy sector.

Treasuries hover in the red with the 10-yr yield up two basis points at 2.36%.

9:01 am: [BRIEFING.COM] S&P futures vs fair value: +12.40. Nasdaq futures vs fair value: +24.20. The S&P 500 futures trade 12 points above fair value.

Markets fell across much of Asia. Bank of Japan Governor Haruhiko Kuroda once again reiterated the central bank's plan to continue easing until the 2.0% inflation target is reached.

In economic data:
China's HSBC Services PMI slipped to 52.9 from 53.5 (expected 53.9)
Hong Kong's Manufacturing PMI fell to 47.7 from 49.8
Japan's Average Cash Earnings increased 0.8% year-over-year (expected 0.9%; prior 0.9%)
India's HSBC Services PMI declined to 50.0 from 51.6
New Zealand's Employment Change came in at 0.8% (expected 0.6%; previous 0.4%) and the Unemployment Rate slipped to 5.4% from 5.6%

------

Japan's Nikkei climbed 0.4% to a seven-year high. Toyota Motor edged up 0.1% ahead of its quarterly report.
Hong Kong's Hang Seng lost 0.6% after failing at the 50- and 100-day moving averages. Casino stocks remained under pressure with Sands China and Galaxy Entertainment falling 3.3% and 3.0%, respectively.
China's Shanghai Composite lost 0.5%, slipping off 21-month highs as sellers took control for the first time in seven days. China Railway Group lost 4.4% as traders booked profits following a more than 20% jump in just two weeks.
India's Sensex added 0.2%, ticking to a record high as traders returned to work following yesterday's holiday. Financials led with Axis Bank, State Bank of India, and ICICI Bank gaining between 1.6% and 2.9%.

Major European indices trade higher across the board with Italy's MIB (+2.2%) pacing the advance.

Participants received several data points:
Eurozone Retail Sales fell 1.3% month-over-month (expected -0.8%; previous 0.9%) while the year-over-year reading rose 0.6% (expected 1.2%; prior 1.9%). Separately, Services PMI ticked down to 52.3 from 52.4 (consensus 52.4)
Germany's Services PMI slipped to 54.4 from 54.8 (expected 54.8)
Great Britain's Services PMI fell to 56.2 from 58.7 (consensus 58.5)
French Services PMI improved to 48.3 from 48.1 (expected 48.1)
Italy's Services PMI rose to 50.8 from 48.8 (forecast 49.2)
Spain's Services PMI ticked up to 55.9 from 55.8 (consensus 56.0)

------

Great Britain's FTSE is higher by 1.2% with retailers in the lead. Associated British Foods, Marks & Spencer Group, and WM Morrison Supermarkets are up between 3.9% and 8.9%. Miners lag with Fresnillo and Randgold Resources down 2.5% and 3.0%, respectively.
In France, the CAC trades up 1.6% with all 40 names in the green. Consumer stocks Carrefour and L'Oreal are among the leaders with gains close to 2.5% apiece.
Germany's DAX has jumped 1.7%. Deutsche Lufthansa leads with a gain of 3.0% while exporters Daimler and BMW hold respective gains of 1.7% and 1.3%.
Italy's MIB is the top performer, up 2.2%, amid strength in financials. BMPS, UBI Banca, and Unicredit are up between 3.0% and 6.3%.

8:29 am: [BRIEFING.COM] S&P futures vs fair value: +12.40. Nasdaq futures vs fair value: +24.50. The S&P 500 futures trade 12 points above fair value.

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose 230K in October. That was above the increase of 220K expected by the Briefing.com consensus. The September reading was revised up to 225,000 from 213,000.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +11.60. Nasdaq futures vs fair value: +23.20. U.S. equity futures hover near their pre-market highs amid upbeat action overseas. The S&P 500 futures trade 12 points above fair value after having spent the entire night in positive territory. Last evening, midterm elections in the U.S. led to the Republican Party taking control of the Senate with 52 seats. The GOP remained in charge of the House and was able to add 10 seats.

The news gave a small boost to futures while the Dollar Index (87.53, +0.55) has also marched higher at the expense of the yen (-100 pips) and the euro (-60 pips). Crude oil, meanwhile, has held its ground. The energy component is little changed at $77.15/bbl.

The weekly MBA Mortgage Index fell 2.6% to follow last week's 6.6% drop.

The October ADP Employment Change report (Briefing.com consensus 220K) will cross the wires at 8:15 ET. The day's data will be topped off with the 10:00 ET release of the ISM Services Index for October (consensus 58.0).

Treasuries hold slim losses with the 10-yr yield up almost two basis points at 2.35%.

In U.S. corporate news of note:

Activision Blizzard (ATVI 21.00, +1.05): +5.3% in reaction to better than expected earnings and revenue on light guidance.
EOG Resources (EOG 95.50, +5.22): +5.8% after beating estimates and raising its production growth guidance.
FireEye (FEYE 28.00, -6.25): -18.3% after reporting a bottom-line beat on below-consensus revenue.
Stratasys (SSYS 115.11, -6.14): -5.1% after cautious guidance overshadowed in-line earnings on above-consensus revenue.
TripAdvisor (TRIP 72.89, -10.90): -13.0% after missing earnings and revenue estimates.
Time Warner (TWX 77.10, +2.13): +2.8% after beating on both metrics.

Reviewing overnight developments:

Asian markets ended on a mixed note. Japan's Nikkei +0.4%, China's Shanghai Composite -0.5%, and Hong Kong's Hang Seng -0.6%
In economic data:
China's HSBC Services PMI slipped to 52.9 from 53.5 (expected 53.9)
Hong Kong's Manufacturing PMI fell to 47.7 from 49.8
Japan's Average Cash Earnings increased 0.8% year-over-year (expected 0.9%; prior 0.9%)
India's HSBC Services PMI declined to 50.0 from 51.6
New Zealand's Employment Change came in at 0.8% (expected 0.6%; previous 0.4%) and the Unemployment Rate slipped to 5.4% from 5.6%
In news:
Bank of Japan Governor Haruhiko Kuroda once again reiterated the central bank's plan to continue easing until the 2.0% inflation target is reached.

Major European indices trade higher across the board. Great Britain's FTSE +1.2%, Germany's DAX +1.6%, and France's CAC +1.7%. Elsewhere, Italy's MIB +2.1% and Spain's IBEX +1.4%.
Participants received several data points:
Eurozone Retail Sales fell 1.3% month-over-month (expected -0.8%; previous 0.9%) while the year-over-year reading rose 0.6% (expected 1.2%; prior 1.9%). Separately, Services PMI ticked down to 52.3 from 52.4 (consensus 52.4)
Germany's Services PMI slipped to 54.4 from 54.8 (expected 54.8)
Great Britain's Services PMI fell to 56.2 from 58.7 (consensus 58.5)
French Services PMI improved to 48.3 from 48.1 (expected 48.1)
Italy's Services PMI rose to 50.8 from 48.8 (forecast 49.2)
Spain's Services PMI ticked up to 55.9 from 55.8 (consensus 56.0)
Among news of note:
Markets in Europe have been underpinned by a strong performance among retailers and Italian financials. Meanwhile, the euro has slipped below the 1.2500 level against the dollar.

6:35 am: [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +15.00.

6:35 am: [BRIEFING.COM] Nikkei...16,937.32...+74.90...+0.40%. Hang Seng...23,695.62...-150.00...-0.60%.

6:35 am: [BRIEFING.COM] FTSE...6,510.44...+56.60...+0.90%. DAX...9,276.85...+111.00...+1.20%.

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

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