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 Post subject: December 18th Thursday Trade Results - Profit $2180.00
PostPosted: Fri Dec 19, 2014 2:21 am 
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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 @ $400.00 dollars or +4.00 points, Emini ES ($ES_F) futures @ $1,000.00 dollars or +20.00 points, Light Crude Oil CL ($CL_F) futures @ $780.00 dollars or +0.78 points, Gold GC ($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 @ $2,180.00 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=137&t=1961

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

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 Advance WRB Analysis Tutorial Chapters @ 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

Analysis -----> Trade Signals

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).

All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=252&t=2585

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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 surge as oil continues rise; Dow up 225 pts
CNBC

U.S. stocks rallied on Thursday, with the Dow industrials climbing more than 400 points for the first time in three years, as investors applauded the Federal Reserve's pledge that it would be patient in increasing interest rates. "You've got people that have underperformed that don't want to be left behind. I didn't understand why falling oil is bad for the stock market so I think part is the reversal of that," said James Paulson, chief investment strategist at Wells Capital Management.

"The reality is markets were hit with we're not sure what's happening and why, as oil has been acting as something akin to a global interest rate. The good news is the Fed is aware of what is going on, and they want to be friendly, so people are hopefully in better cheer," said Jack Caffrey, equity portfolio manager at J.P. Morgan. "Seasonally it's a time of good flows into equities. If anything, seasonally the behavior over the last two weeks was an anomaly," said Caffrey of the market's recent slide. The CBOE Volatility Index (^VIX), a measure of investor uncertainty, fell nearly 14 percent to 16.81. Thursday data had jobless claims falling by 6,000 to 289,000 last week, the lowest since early November.

And, the Conference Board's index of leading indicators advanced in November for a third consecutive month, signalling the U.S. economy is picking up steam heading into the new year. Oracle (ORCL) rallied after the software marker reported fiscal second-quarter profit and sales that exceeded estimates; Hertz Global Holdings (HTZ) jumped after investor Carl Icahn reported hiking his stake in the car-rental company. The Dow Jones Industrial Average (Dow Jones Global Indexes: .DJI) rose 421.28 points, or 2.4 percent, to 17,778.15, with Microsoft (MSFT) andInternational Business Machines (IBM) leading blue-chip gains that included all 30 components.The S&P 500 (^GSPC) advanced 48.34 points, or 2.4 percent, to 2,061.23, with technology leading gains and all 10 of its major sectors rising.The Nasdaq (^IXIC) added 104.08 points, or 2.2 percent, to 4,748.40.For every share falling, more than four rose on the New York Stock Exchange, were 976 million shares traded. Composite volume approached 4.7 billion.

The U.S. dollar (Exchange:.DXY) gained against the currencies of major U.S. trading partners and the yield on the 10-year note (U.S.:US10Y) used to figure mortgage rates and other consumer loans gained 7 basis points to 2.2068 percent. After rising to $58.73 a barrel, West Texas Intermediate (New York Mercantile Exchange: @CL15F) turned lower, losing $2.36, or 4.2 percent, to $54.11 a barrel. Gold futures for February delivery (CEC:Commodities Exchange Centre: @GC15G) added 30 cents to $1,194.80 an ounce on the New York Mercantile Exchange.American motorists are paying less than $2.50 a gallon at the pump for the first time in more than five years, with retail gasoline prices falling to an average $2.477 a gallon Wednesday night, according to the AAA. U.S. stocks surged on Wednesday, with the Dow marking its best session of the year, as investors celebrated a rally in the energy sector and the Federal Reserve's pledge to be patient in raising interest rates.

Read More Stocks rally on oil turn as Fed vows rate patience Coming Up This Week: Friday Earnings: Blackberry, CarMax, Finish Line 10:00 a.m.: Chicago Fed President Charles Evans 12:30 p.m.: Richmond Fed President Jeffrey Lacker More From CNBC.com: GM to Russia car dealers: Nyet! Investors walking, not running out of Russia funds Putin speech sparks more ruble volatility

4:10 pm: [BRIEFING.COM] The stock market ended the Thursday session on its high with the S&P 500 (+2.4%) extending its two-day advance to 88 points.

The key indices started the Thursday session on a sharply higher note after equity futures received an early morning boost, which took place after the Swiss National Bank imposed negative deposit rates (-0.25%). The central bank said the move is aimed at lowering the three-month LIBOR below zero and European investors viewed the announcement as a prelude to a sovereign QE program from the European Central Bank.

European equities, U.S. futures, and commodities rallied following the news, but crude oil fell victim to renewed selling interest after climbing above the $58.50/bbl level in the early morning. The energy component ended near its worst level of the day, down 4.0% at $54.19/bbl.

For its part, the energy sector (+2.1%) displayed relative strength at the start, but was pressured from its high by the intraday weakness in crude. Marathon Oil (MRO 27.56, +0.89) finished ahead of the sector, adding 3.3%, after lowering its 2015 capital, investment, and exploration budget by about 20.0% from this year's levels due to the recent plunge in the price of crude. The energy sector was the only group that could not climb above its morning high.

Outside of energy, consumer discretionary (+1.6%) and materials (+2.3%) were the only other cyclical groups that could not finish ahead of the broader market. A handful of quick-service restaurant names contributed to the underperformance of discretionary shares after Dunkin Brands (DNKN 43.05, -3.17) issued below-consensus guidance for fiscal year 2015. Shares of DNKN tumbled 6.9% while peers Krispy Kreme (KKD 18.98, -0.75) and Starbucks (SBUX 80.03, -0.41) lost 3.8% and 0.5%, respectively.

Elsewhere among cyclical sectors, technology (+3.0%) did some heavy lifting with a sizable assist from Oracle (ORCL 45.35, +4.19). The stock surged 10.2% in reaction to better than expected results while other large cap names like Apple (AAPL 112.65, +3.24), Microsoft (MSFT 47.52, +1.78), and IBM (IBM 157.68, +5.75) rallied between 3.0% and 3.9%.

Over on the countercyclical side, consumer staples (+2.0%), telecom services (+1.8%), and utilities (+2.0%) lagged while the health care sector (+2.8%) ended ahead of the broader market with help from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 313.97, +10.59) spiked 3.5%.

Treasuries ended the day just above their lows with the 10-yr yield higher by seven basis points at 2.21%.

Participation was well ahead of average with more than 950 million shares changing hands at the NYSE floor.

Economic data included Initial Claims, Leading Indicators, and the Philadelphia Fed Survey:

Initial jobless claims fell to 289,000 from a revised rate of 295,000 (from 294,000) while the Briefing.com consensus expected a decline to 292,000
Continuing claims fell to 2.373 million from 2.520 million
The Philadelphia Fed's Business Outlook fell to 24.5 in December from 40.8 in November while the Briefing.com consensus expected a decline to 26.0
While the index deteriorated across the board, it was coming off a high point that was simply not sustainable
The Conference Board's Leading Economic Index increased 0.6% for a second consecutive month in November after a downward revision (from 0.9%) to the October data
The Briefing.com Consensus expected an increase of 0.5%

Tomorrow's session will be free of economic data.

Nasdaq Composite +13.7% YTD
S&P 500 +11.5% YTD
Dow Jones Industrial Average +7.3% YTD
Russell 2000 +2.5% YTD

3:40 pm: [BRIEFING.COM]

Oil prices continue to be very volatile
Jan crude oil surged as high as $58.73/barrel, but completely lost steam and it sailed back down to finish the day at $54.19/barrel
Natural gas rose 8 cents to $3.70/MMBtu
Precious metals closed unchanged today, both gold and silver, while copper fell 2 cents to $2.85/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 1.6% with one hour remaining in the session. Equity indices spiked at the start of the trading day and built on their gains during afternoon action despite a swoon in the energy sector (+0.5%) that was brought on by another leg down in crude oil ($54.61/bbl, -1.86).

Meanwhile, the remaining sectors have held up well with eight of nine groups showing gains of 1.0% or more.

Market breadth at the NYSE remains tilted to the upside with nearly 3.5 names trading higher for each decliner.

2:30 pm: [BRIEFING.COM] Equity indices remain near their highs with the Nasdaq Composite (+1.8%) trading just ahead of the Dow (+1.7%) and S&P 500 (+1.6%).

The major averages have continued showing strength even as crude oil widened its loss to 4.0% at $54.23/bbl. The new low in crude has pressured the energy sector (-0.2%) back below its flat line, but other groups have filled the void with technology extending its gain to 2.5%. High-beta chipmakers have not been able to keep pace with the sector as indicated by the PHLX Semiconductor Index (+1.5%).

Elsewhere, Treasuries remain near their lows with the 10-yr yield up seven basis points at 2.21%.

2:00 pm: [BRIEFING.COM] The S&P 500 (+1.7%) hovers right below its best level of the session.

Over the past several weeks, the initial claims level has stabilized below 300,000, and there has been very little volatility. This level is often associated with an employment sector that is at, or very near, full employment.

The DOL did not provide any explanation for the sharp up-and-down move in the continuing claims level. Considering the stability in the initial claims level, the volatility of that magnitude in the continuing claims data seemed very unusual. At this point, we will chalk it up to normal, but unexpected movements, and not the start of a new trend.

While the Philly Fed's Business Outlook deteriorated across the board, it was coming off a high point that was simply not sustainable. The overall trends continue to point toward a solid manufacturing expansion in the Philadelphia region. That compares favorably to the most recent New York Fed's Empire Manufacturing Survey, which showed an unexpected contraction in activities in December.

1:35 pm: [BRIEFING.COM] The major indices continue to hold substantial gains, sitting near their best levels of the session. All indices are up more than 1.0% in today's trade. The Nasdaq (+1.9%) is leading while the Russell 2000 (+1.1%) is trailing.

Notably, the energy sector (+0.8%) is underperforming as companies in that sector cool off following large gains the last two days. The underperformance can be attributed as well to the disappointing price action in WTI crude futures, which are -$0.92 at 55.55/bbl after trading as high as $58.73 earlier in the day. Word from Marathon Oil (MRO) that its 2015 capital spending program will be about 20% lower than 2014 levels has also helped cool things off a bit.

The consumer staples sector (+1.1%) is doing fine but still trailing the S&P 500. ConAgra (CAG 36.21, -0.89) and Sanderson Farms (SAFM 84.01, -3.40) are holding things back following their respective earnings reports.

Separately, the $16B 5y TIPs Reopening drew a high yield of 0.395% and a bid-to-cover ratio of 2.37x.

1:00 pm: [BRIEFING.COM] The major averages hover near their highs at midday with the S&P 500 sporting a solid gain of 1.7% while the Russell 2000 (+1.2%) follows not far behind.

Equity indices surged out of the gate after the overnight session featured the implementation of negative deposit rates (-0.25%) at the Swiss National Bank. The move was aimed at lowering short-term LIBOR below zero and was viewed by the market as a preparatory step ahead of a QE announcement from the European Central Bank. Equity indices across Europe cheered the news while commodities saw a short-lived spike.

Crude oil tested the $58.50/bbl level overnight, but a steady slide from that level has the energy component trading lower by 0.4% at $56.24 at this juncture. Meanwhile, the energy sector began the day among the leaders, but made an appearance in the red as crude tested its low. Currently, the sector trades higher by 1.0%. Notably, Marathon Oil (MRO 27.72, +1.05) lowered its 2015 capital, investment, and exploration budget by about 20.0% from this year's levels due to the recent plunge in the price of crude.

Energy notwithstanding, three of the remaining five cyclical sectors trade ahead of the broader market. The top-weighted technology space (+2.3%) has been underpinned by large cap names, including Oracle (ORCL 44.51, +3.35), which has surged 8.1% after beating earnings and revenue estimates.

Elsewhere, the industrial sector (+1.8%) has received support from defense contractors like General Electric (GE 24.94, +0.51) and Boeing (BA 126.75, +1.69) while transport stocks have not been able to keep pace with the market. The Dow Jones Transportation Average is higher by 0.9% with shipper Kirby (KEX 82.02, -6.73) responsible for the underperformance after lowering its Q4 guidance.

Also of note, countercyclical sectors lagged in the early going, but the largest defensively-oriented group-health care (+1.9%)-has climbed ahead of the S&P 500 thanks to biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 311.03, +7.65) is higher by 2.5%.

Treasuries sit near their lows with the 10-yr yield up seven basis points at 2.21%.

Economic data included Initial Claims, Leading Indicators, and the Philadelphia Fed Survey:

Initial jobless claims fell to 289,000 from a revised rate of 295,000 (from 294,000) while the Briefing.com consensus expected a decline to 292,000
Continuing claims fell to 2.373 million from 2.520 million
The Philadelphia Fed's Business Outlook fell to 24.5 in December from 40.8 in November while the Briefing.com consensus expected a decline to 26.0
While the index deteriorated across the board, it was coming off a high point that was simply not sustainable
The Conference Board's Leading Economic Index increased 0.6% for a second consecutive month in November after a downward revision (from 0.9%) to the October data
The Briefing.com Consensus expected an increase of 0.5%

12:25 pm: [BRIEFING.COM] The S&P 500 (+1.5%) has inched back into the neighborhood of its early high amid continued strength in four of the five top-weighted sectors. To that point, technology (+2.2%), financials (+1.7%), health care (+1.8%), and industrials (+1.8%) trade ahead of the broader market while the consumer discretionary sector (+0.9%) has trailed the broader market since the opening bell.

The discretionary sector has been kept behind the S&P 500 by the relative weakness among quick-service restaurant names after Dunkin Brands (DNKN 42.14, -4.08) issued below-consensus guidance for fiscal year 2015. Shares of DNKN have given up 8.8% while peers Krispy Kreme (KKD 19.19, -0.54) and Starbucks (SBUX 80.34, -0.09) trade lower by 2.7% and 0.1%, respectively.

11:55 am: [BRIEFING.COM] The major averages continue hovering near their recent levels with the S&P 500 (+1.4%) spending the past hour in a five-point range.

Three of six cyclical sectors trade ahead of the benchmark index with technology (+2.1%) holding the lead thanks in large part to a 7.9% advance in the shares of Oracle (ORCL 44.44, +3.28) after the company reported better than expected results. Other large cap sector components like Apple (AAPL 111.09, +1.68) and Microsoft (MSFT 46.99, +1.25) also trade ahead of the broader market, but chipmakers have struggled to keep pace. The PHLX Semiconductor Index trades higher by 1.2%.

Meanwhile on the countercyclical side, the health care sector (+1.8%) has climbed ahead of the broader market with help from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 310.26, +6.88) has added 2.3%.

11:30 am: [BRIEFING.COM] Equity indices have inched away from their highs with the S&P 500 (+1.2%) trading about ten points below its best level of the session. Meanwhile, the Russell 2000 has cut its early gain in half, narrowing its advance to 0.8%.

Five of ten sectors continue trading ahead of the broader market, but investors appear to be focusing on the price of crude oil once again with the energy component trading lower by 1.5% at $55.60/bbl after sliding from its overnight high near $58.50/bbl. Given its current level, oil has retraced yesterday's advance and trades about $2.00 above its swing low that was registered on Tuesday.

Elsewhere, the bond market has not shown much concern over the recent movement in commodities. The 10-yr yield is higher by eight basis points at 2.22%.

10:55 am: [BRIEFING.COM] The major averages remain near their highs, but the energy sector, which led at the start, has returned to its flat line.

The pullback in the energy sector occurred as crude oil was unable to hold its overnight gain. The energy component touched the $58.50/bbl level overnight, but a steady retreat has dropped oil to a new low for the day. At this juncture, crude oil trades lower by 0.7% at $56.06/bbl.

Although the energy sector has slid from highs, three of the remaining five cyclical sectors continue trading ahead of the broader market with technology (+2.1%) and financials (+1.5%) in the lead.

10:40 am: [BRIEFING.COM]

Natural gas was trading higher this morning on current weather forecasts and extended gains even further following the weekly EIA storage report
Jan nat gas hit a new HoD following this data and is now +1.5% at $3.76/MMBtu
WTI crude oil rallied in the middle of overnight trading action, pushing as high as $58.73/barrel.
Jan crude oil has been sliding lower since hitting that level and is now back in negative territory, currently -0.7% at $56.07/barrel
Gold and silver have pulled back off of overnight highs
Feb gold is now flat at $1194.50/iz, while Mar silver is +0.04% a t $15.94/oz

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 1.5%.

The Leading Indicators report for November was up 0.6%, while the Briefing.com consensus expected a reading of 0.5%. That followed a revised 0.6% increase in October (from 0.9%).

The Philadelphia Fed Survey for December fell to 24.5 from 40.8. Economists polled by Briefing.com had expected that the Survey would fall to 26.0.

9:45 am: [BRIEFING.COM] As expected, the major averages spiked out of the gate with the Dow, Nasdaq, and S&P 500 all up near 1.3%.

Generally speaking, cyclical sectors are showing relative strength with industrials (+1.3%), energy (+2.1%), and technology (+1.7%) trading in-line with or ahead of the broader market. Notably, the tech sector has been underpinned by top-weighted components like Apple (AAPL 111.42, +2.01), Microsoft (MSFT 46.49, +0.75), and Oracle (ORCL 44.05, +2.89) with the latter trading higher by 7.0% after beating earnings and revenue estimates.

Over on the countercyclical side, all four sectors trail the broader market, but the health care sector (+1.1%) follows just behind the S&P 500. As for biotechnology, the group outperforms with the iShares Nasdaq Biotechnology ETF (IBB 307.76, +4.38) higher by 1.4%.

Treasuries hover near their recently established lows with the 10-yr yield up seven basis points at 2.21%.

November Leading Indicators (consensus 0.5%) and the Philadelphia Fed Survey for December (consensus 26.0) will be released at 10:00 ET.

9:07 am: [BRIEFING.COM] S&P futures vs fair value: +28.10. Nasdaq futures vs fair value: +56.00. The stock market is on track for a sharply higher open as futures on the S&P 500 trade 28 points above fair value. Index futures hovered near their flat lines through the early portion of the night, but powered to fresh highs after the Swiss National Bank imposed a negative rate (-0.25%) on deposits.

The announcement from the SNB sparked a risk rally with equities and commodities charging higher. Brent crude has soared 3.8% to $62.29/bbl while the major averages in Europe trade higher across the board with gains in excess of 1.0%.

Domestically, the weekly initial claims report indicated that claims declined to 289,000 from a revised rate of 295,000 while the Briefing.com consensus expected a reading of 292,000.

More data remains on the schedule with November Leading Indicators (consensus 0.5%) and the Philadelphia Fed Survey for December (consensus 26.0) set to cross the wires at 10:00 ET.

On the corporate front, Accenture (ACN 86.52, +1.22), Oracle (ORCL 43.15, +1.99), and Rite Aid (RAD 6.64, +0.58) are on track to begin in the green after reporting better than expected earnings.

Treasuries sit on their lows with the 10-yr yield higher by almost seven basis points at 2.20%.

8:54 am: [BRIEFING.COM] S&P futures vs fair value: +27.40. Nasdaq futures vs fair value: +56.50. The S&P 500 futures trade 27 points above fair value.

Markets gained across most of Asia as investors took solace in the U.S. Federal Reserve indicating it will remain 'patient' when considering rate hikes. Elsewhere, Taiwan's central bank held its key rate unchanged at 1.88%, as expected.

Economic data was limited:
China's House Prices fell 3.7% year-over-year (prior -2.6%) with declines registered in all 70 cities surveyed
Hong Kong's Unemployment Rate held at 3.3%, as expected
New Zealand's GDP rose 1.0% quarter-over-quarter (expected 0.7%; previous 0.7%) while the year-over-year reading increased 3.2%, as expected

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Japan's Nikkei added 2.3% to register its biggest gain since Halloween. Exporter advanced as a result of the weaker yen with Toyota Motor and Canon both adding close to 1.5%.
Hong Kong's Hang Seng climbed 1.1% off seven-month lows. Heavyweight Tencent Holdings paced the advance, surging 6.3%.
China's Shanghai Composite shed 0.1% after struggling near the recent highs. Brokerage names pulled back on profit-taking as Haitong Securities and Citic Securities fell 6.8% and 3.1%, respectively.
India's Sensex jumped 1.6% to reclaim the 100-day average as action climbed off two-month lows. Utilities led the way with Bharat Heavy Electric rallying 5.0% and GAIL India gaining 4.2%.

Major European indices trade higher across the board with France's CAC (+2.8%) and Spain's IBEX (+2.7%) jockeying for the lead. Regional equities rallied after the Swiss National Bank imposed a negative deposit rate (-0.25%) with the move aimed at pushing the three-month Libor below zero.

Economic data was limited:
Germany's Ifo Business Climate Index improved to 105.5 from 104.7 (expected 105.4) as Business Expectations rose to 101.1 from 99.7, as expected, while Current Assessment held at 110.0 (consensus 110.3)
UK's Retail Sales rose 1.6% month-over-month (expected 0.3%; previous 1.0%) while the year-over-year reading jumped 6.4% (consensus 4.2%; last 4.6%). Core Retail Sales increased 1.7% month-over-month (consensus 0.4%; last 1.0%) while the year-over-year reading spiked 6.9% (expected 4.5%; prior 4.9%)

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UK's FTSE is higher by 1.3% with all but six components trading in the green. Energy and mining names lead with Fresnillo, Randgold Resources, Petrofac, and Tullow Oil up between 2.7% and 5.1%.
Germany's DAX has spiked 2.2% with Deutsche Bank and Volkswagen in the lead. The two names hold respective gains of 2.4% and 3.0%. Henkel AG is the weakest performer, down 1.1%.
Spain's IBEX has climbed 2.7% with help from financials and engineering companies. Acciona, Bankia, Sacyr, and Santander are up between 3.0% and 6.3%.
In France, the CAC trades up 2.8% with all 40 components in the green. Financials are among the leaders with AXA, Credit Agricole, and Societe Generale showing gains between 3.4% and 4.7%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +24.60. Nasdaq futures vs fair value: +51.70. The S&P 500 futures trade 25 points above fair value.

The latest weekly initial jobless claims count totaled 289,000 while the Briefing.com consensus expected a reading of 292,000. Today's tally was below the revised prior week count of 295,000 (from 294,000). As for continuing claims, they fell to 2.373 million from 2.520 million.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +25.00. Nasdaq futures vs fair value: +55.70. U.S. equity futures trade sharply higher amid upbeat action overseas. The S&P 500 futures hover 25 points above fair value with the bulk of the gain coming after the start of the European session when the Swiss National Bank imposed a negative interest rate on deposits held at the SNB.

Similar to equity futures, commodities rallied overnight with crude oil trading higher by 2.2% at $57.73/bbl. Meanwhile, Brent crude has spiked 4.6% to $62.77/bbl.

On the economic front, weekly Initial Claims (Briefing.com consensus 292K) will be released at 8:30 ET while November Leading Indicators (consensus 0.5%) and the Philadelphia Fed Survey for December (consensus 26.0) will cross the wires at 10:00 ET.

In U.S. corporate news of note:

Accenture (ACN 86.52, +1.22): +1.4% in reaction to better than expected earnings and revenue.
Oracle (ORCL 43.15, +1.99): +4.8% after beating earnings and revenue estimates.
Rite Aid (RAD 6.64, +0.58): +9.2% following better than expected earnings and improved guidance.
Jabil Circuit (JBL 21.19, +1.12): +5.6% after beating estimates and guiding above consensus.

Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite -0.1%, Hong Kong's Hang Seng +1.1%, and Japan's Nikkei +2.3%
In economic data:
China's House Prices fell 3.7% year-over-year (prior -2.6%)
Hong Kong's Unemployment Rate held at 3.3%, as expected
New Zealand's GDP rose 1.0% quarter-over-quarter (expected 0.7%; previous 0.7%) while the year-over-year reading increased 3.2%, as expected
In news:
The decline in China's House Prices represented the seventh consecutive monthly decrease and encompassed all 70 surveyed cities

Major European indices trade higher across the board. UK's FTSE +1.2%, Germany's DAX +2.1%, and France's CAC +2.7%. Elsewhere, Italy's MIB +1.9% and Spain's IBEX +2.7%
Economic data was limited:
Germany's Ifo Business Climate Index improved to 105.5 from 104.7 (expected 105.4) as Business Expectations rose to 101.1 from 99.7, as expected, while Current Assessment held at 110.0 (consensus 110.3)
UK's Retail Sales rose 1.6% month-over-month (expected 0.3%; previous 1.0%) while the year-over-year reading jumped 6.4% (consensus 4.2%; last 4.6%). Core Retail Sales increased 1.7% month-over-month (consensus 0.4%; last 1.0%) while the year-over-year reading spiked 6.9% (expected 4.5%; prior 4.9%)
Among news of note:
The Swiss National Bank imposed a negative deposit rate (-0.25%) with the move aimed at pushing the three-month Libor below zero

7:02 am: [BRIEFING.COM] S&P futures vs fair value: +23.50. Nasdaq futures vs fair value: +48.00.

7:02 am: [BRIEFING.COM] Nikkei...17,210.05...+390.30...+2.30%. Hang Seng...22,832.21...+246.40...+1.10%.

7:02 am: [BRIEFING.COM] FTSE...6,398.19...+61.90...+1.00%. DAX...9,734.64...+190.20...+2.00%.

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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