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 Post subject: December 22nd Monday Trade Results - Loss $447.50
PostPosted: Tue Dec 23, 2014 1:39 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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)

Attachment:
122214-wrbtrader-Price-Action-Trading-PnL-Blotter-Loss-447.50.png
122214-wrbtrader-Price-Action-Trading-PnL-Blotter-Loss-447.50.png [ 175.4 KiB | Viewed 269 times ]

click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ ($1,487.50) dollars or -29.75 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $1,040.00 dollars or +10.40 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Loss @ ($447.50) 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=1965

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

-----------------------------

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

4:20 pm: [BRIEFING.COM] Remember last week's rally effort following the pronouncement from the FOMC that it will be patient in raising the fed funds rate? Well, it's not over yet. The stock market on Monday continued its winning ways with each of the major indices adding to their gains. Both the Dow Jones Industrial Average and S&P 500 closed at new all-time highs.

Throughout Monday's trading, there was a clear preference for owning Dow Jones Industrial Average stocks. Our sense of things is that participants were favoring these names for their liquidity, which is optimal in the event positions need to be exited quickly, and for their appeal as conservative options to participate in further upside should the year-end rally continue.

Either way, it was a good day for the price-weighted average, which saw 27 of its 30 components advance. IBM (IBM 161.45, +2.94) was the biggest price mover while Intel (INTC 37.22, +0.85), up 2.3%, was the biggest percentage gainer.

Those stocks helped lead the information technology sector (+1.1%), which was the best-performing sector in the S&P 500. Its gains helped offset weakness in the health care (-1.2%) and energy (-1.0%) sectors.

Health care was weak due in large part to a large loss in Gilead Sciences (GILD 92.90, -15.55), which followed reports that pharmacy benefits manager Express Scripts (ESRX 82.34, +1.37) is going to displace Gilead's hepatitis C drug, Sovaldi, in favor of a less expensive offering from AbbVie (ABBV 66.96, -0.75), Viekira Pak, which recently won FDA approval and will become the exclusive option in the formulary for patients with genotype 1 hepatitis C.

Essentially, the decision by Express Scripts created some angst about potential pricing pressures for the drug makers. Not all drug makers were weak on Monday, yet Merck (MRK 58.95, -0.63) was one of Dow's three losers, which also included Chevron (CVX 112.05, -0.88), and ExxonMobil (XOM 93.31, -0.33).

The energy sector traded in negative territory throughout the day, pressured by a renewed drop in oil and natural gas prices. WTI crude futures dipped 3.3% to $55.27/bbl while natural gas futures, hit with forecasts for warmer winter temperatures ahead in the northeast, plunged 8.2% to $3.18/btu.

Commodities in general were weak on Monday with a stronger dollar pressuring some of the action. To that end, gold futures slipped 2.0% to $1172.60/troy ounce; meanwhile, copper futures fell 0.4% to $2.87/lb.

There didn't appear to be any abject concerns in the stock market about the weakness in commodity prices signaling economic trouble ahead. Granted the materials sector (0.05%) underperformed, yet the industrials (+0.9%), consumer discretionary (+0.9%), and financial (+0.6%) sectors outperformed.

Interestingly, the 10-yr Treasury note battled back from modest losses and went out at its highs for the day as stocks were advancing into the close to finish at their best levels of the session. The highs weren't that high for the Treasury market. The 10-yr note was unchanged at 2.165%, yet its steady state didn't necessarily reflect the same amount of confidence in the outlook that the stock market's continued gains did.

A weaker-than-expected Existing Home Sales report for November, which showed a 6.1% decline in homes sold from October to an annualized rate of 4.93 million units (Briefing.com consensus 5.20 mln), lent a measure of support to the Treasury market.

Tuesday will feature an extensive lineup of economic releases that includes the Durable Orders, Third Estimate for Q3 GDP, Personal Income and Spending, University of Michigan Consumer Sentiment, and New Home Sales reports.

Volume was on the lighter side of recent averages as 772 million shares traded at the NYSE.

Nasdaq Composite +14.5% YTD
S&P 500 +12.5% YTD
Dow Jones Industrial Average +8.3%
Russell 2000 +3.1% YTD

3:35 pm: [BRIEFING.COM]

Natural gas began to recover in the afternoon session.
However, this reversed and natural gas closed close to today's low
Jan nat gas finished today's session down 33 cents to $3.14/MMBtu
Crude oil sold off today as well, coming off its overnight night now, ending the day $1.72 lower at $55.38/barrel
Precious metals declined as well
Feb gold finished lower, closing below $1200/oz, while Mar silver ended under $16/oz

3:05 pm: [BRIEFING.COM] The stock market is in cruise control, plodding along with no real change in its speed. The complexion of things going into the final hour looks a lot like it has looked all day: modest gains with the Dow out ahead of the other major indices by a comfortable margin.

Tuesday's action is going to produce a lot of economic data, including the third estimate for the third quarter GDP report and the Personal Income and Spending report for November. The latter will contain the PCE Price Index, which is the Fed's primary inflation-watching benchmark.

Strikingly, the CBOE Volatility Index (VIX 15.81, -0.68) has continued to recoil as stocks have continued to press ahead. The VIX Index has dropped 37% from its high last Tuesday (pre-FOMC decision day).

2:25 pm: [BRIEFING.COM] There hasn't been any quit in the stock market, which continues to build on last week's post-FOMC rally effort. Today's gains are modest in scope, yet there aren't a lot of participants right now looking for the exit.

Presumably, the resilience is owed in part to an expectation that further gains will be logged in a spirited Santa Claus rally effort.

The recent improvement in the broader market has been helped along by some renewed buying interest in the energy sector. The latter was down as much as 2.0% earlier, but has cut that loss in half and is now down 1.0% as a number of related stocks are making their way back from lower lows.

2:00 pm: [BRIEFING.COM] The major indices are off their highs, but not by much as they continue to hold near the upper end of their ranges.

Over the past few months, the labor sector has strengthened significantly and mortgage rates have fallen. Affordability conditions have materially improved. Yet, we have not seen steady acceleration in sales growth during this time. There is still a disconnect between general economic conditions and trends in home demand.

First-time home buyers accounted for 31% of all sales. That was up from 29% in October and was the largest contribution since October 2012. While that is still down from 40%, which is needed for normal market conditions, gains in the first-time home buyers' market will pass through and allow current home owners to step up into larger and more expensive housing.

1:30 pm: [BRIEFING.COM] The major US indices continue their march higher on the day with the Dow Jones Industrial Average now up 0.6% and just under its session highs. The DJIA is notably outperforming the Nasdaq and S&P 500 following strong gains from IBM (IBM 161.57, +3.06).

The strong decline in natural gas (-8.55% to $3.17/btu) continues to drag on a number of energy companies with Ultra Petroleum (UPL 13.81, -1.96) and Chesapeake Energy (CHK 18.58, -1.28) among the biggest losers.

Elsewhere, shares of Ocwen Financial (OCN 15.79, -6.11) are down notably after the company confirmed it has reached a settlement with the New York Department of Financial Services following a recent investigation related to erroneously dated borrower correspondences. Ocwen has agreed to pay $150 mln and its founder and Executive Chairman has agreed to step down from the company and its related affiliates, including Altisource Portfolio (ASPS 31.31, -16.23) and Altisource Asset Management (AAMC 323.27, -142.04).

12:55 pm: [BRIEFING.COM] It hasn't been a down day. It has been a Dow day. The blue chip average has outperformed since the opening bell and is at its highs for the session, riding some pretty broad-based strength among its 30 components.

After a big run by the stock market last week,the outperformance of the Dow Jones Industrial Average today perhaps shouldn't be seen as too much of a surprise. After all, most stocks in the average aren't extremely volatile and they are among the most liquid stocks around. In brief, the Dow Jones Industrial Average has been deemed a relatively safe place to park in the stock market at this juncture for two reasons:

Being involved there allows for further participation in an upside move into year end should there be one and
There is ample liquidity in those names that allows for an easier exit in the event things turned south

IBM (IBM 161.64, +3.13), which isn't exactly knocking it out of the growth park these days, is the biggest point gainer, yet it is fellow technology component Intel (INTC 37.16, +0.79) that is the biggest percentage gainer. Other leaders of note for the price-weighted average include Visa (V 263.26, +1.59), 3M (MMM 166.95, +1.47), Boeing (BA 128.32, +2.09), and Home Depot (HD 103.30, +1.37).

The trading action overall has been pretty subdued. Following the opening burst of activity, the major indices have held to pretty narrow ranges with strength in the technology, consumer discretionary, industrials, and consumer staples sectors being offset by weakness in the energy and health care sectors.

Energy has followed crude prices lower (-2.9% at $55.43/bbl) while health care is being dragged down by pricing concerns following the decision by pharmacy benefits manager Express Scripts (ESRX 81.90, +0.93) to kick out a more expensive hepatitis C offering from Gilead Sciences (GILD 95.73, -12.72) in favor of a less expensive treatment from AbbVie (ABBV 67.19, -0.51), which recently won FDA approval for its hepatitis C drug, Viekira Pak.

As it so happens, Merck (MRK 58.76, -0.83) is among a handful of Dow components trading lower and is the biggest percentage loser in the Dow today. Chevron (CVX 111.38, -1.55), meanwhile, is the biggest point loser.

Commodities in general have not acted well today. Gold, copper, lumber, lean hogs, natural gas, and coffee futures to name a few are all on the defensive. Natural gas futures have been hit the hardest, falling 7.0% to $3.22/btu amid forecasts for warmer temperatures ahead.

The Existing Home Sales report for November was the only item on today's economic calendar. It disappointed, showing a 6.1% month-over-month decline to 4.93 million units on an annualized basis. The silver lining, though, is that sales were up 2.1% year-over-year, marking the second straight month of a year-over-year gain.

With the stock market holding up to selling efforts, the Treasury market hasn't been able to mount much of a charge. The 10-yr note is down four ticks with its yield up one basis point to 2.18%.

12:25 pm: [BRIEFING.COM] Beyond the opening move, there hasn't been a lot of movement today. The trading activity has been sporadic for the most part, yet the subsequent movement has been confined to fairly narrow trading ranges.

The Russell 2000 is the "big laggard" at the moment among the major indices with a 0.2% decline. Including today's action, the Russell 2000 is still up 2.6% for the year, which leaves it trailing the S&P 500 (+12.1%) by a significant margin.

Within the Dow Jones industrial Average, Chevron (CVX 111.32, -1.61) is the biggest downside mover and also the only component down more than a point. Its weakness flows from the pullback in oil prices, which in turn has followed a pronouncement from the Saudi oil minister that it is not in OPEC's interest to cut output no matter how far oil prices fall.

Fellow component ExxonMobil (XOM 92.96, -0.68) is down 0.7%.

12:00 pm: [BRIEFING.COM] The major indices remain locked in narrow trading ranges. It could perhaps be a sign of things to come as participation is apt to dwindle the closer the Christmas holiday gets.

As a reminder, the NYSE will close at 1:00 p.m. ET on Wednesday and will be closed on Thursday. There will be a normal session on Friday (normal in terms of the time frame for trading, but absent some big piece of news, probably abnormal in terms of involvement).

Today, there are pockets of weakness in the pharmaceutical space that has weighed on the health care sector (-1.5%), which has been the best-performing sector year-to-date (+25.3%). Those pockets of weakness have been punched by drug pricing concerns that have followed the decision by pharmacy benefits manager Express Scripts (ESRX 81.93, +0.96) to make AbbVie's (ABBV 67.19, -0.52) new hepatitis C drug -- and less expensive drug -- the exclusive option in its formulary for patients with genotype 1 hepatitis C.

Essentially, that decision by Express Scripts is creating some angst that drug makers could be forced to cut prices to ensure they continue to have viable offerings in the formularies for pharmacy benefits managers. Merck (MRK 58.65, -0.94) is one of only five stocks in the Dow that is down today.

11:30 am: [BRIEFING.COM] The S&P 500 is flatlining so far today, but we wouldn't call it dead. It has had a big run in a short amount of time, so there is some consolidation taking place with a mismash of selling and buying interest.

The latter is reflected in the A/D line at the NYSE, which is basically even between advancing issues (1489) and declining issues (1497). On the Nasdaq, advancers hold a slim 7-to-6 lead over decliners.

Semiconductors have been a pocket of relative strength in the technology sector, paced by a 1.8% gain in Intel (INTC 37.03, +0.66) that has underpinned a 1.1% gain in the Philadelphia Semiconductor Index.

A weak showing from the biotech group, and namely Gilead Sciences (GILD 92.91, -15.54), is holding back the Nasdaq.

11:00 am: [BRIEFING.COM] The stock market is settling in with a clearly-defined pattern that shows participants favoring the blue chip stocks in the Dow Jones Industrial Average over many other stocks. The Nasdaq, S&P 500, Russell 2000, and S&P Midcap 400 are all trailing behind with more modest gains.

Macro headlines have been tame today, so it has been easier for the market to stand its ground after last week's huge rally effort.

The energy (-1.5%) and health care (-1.2%) sectors are the biggest drags at the moment that have held back the broader market. The former is down in conjunction with WTI crude futures (-2.2% at $55.89/bbl) while the latter has been clipped by a 13% decline in Gilead Sciences (GILD 94.74, -13.71).

The weakness in Gilead Sciences has been driven by Express Scripts' (ESRX 82.14, +1.17) announcement that AbbVie's (ABBV 67.25, -0.46) newly-approved hepatitis C treatment, Viekira Pak, will be the exclusive option in Express Scripts' formulary for patients with genotype 1 hepatitis C, displacing the offering from Gilead Sciences.

10:35 am: [BRIEFING.COM]

Commodities are trading mostly lower this morning, while the dollar index is trading modestly lower.
The index has been in negative territory all day so far, which has helped provide a little support in select commodities this morning, but not too much.
Natural gas futures are the worst performing commodity today in the commodities complex and dropped sharply lower.
This weakness comes on mild weather forecasts and inventory that's above year-ago levels, causing front-month natural gas to fall more than 9% lower.
Jan nat gas is now -9% at $3.15/MMBtu.
Metals and oil futures are all sitting near today's lows.
Feb crude oil has been sliding lower since the overnight low of $58.53/barrel and is now -2.2% at $55.90/oz
Feb gold is currently -0.1% at $1195/oz, while Mar silver is -0.5% at $15.94/oz.

10:00 am: [BRIEFING.COM] With a 5.0% gain in roughly three trading sessions, it can be tough to keep those good times rolling without some profit-taking interference. That seems to be the case today.

The major indices are higher, yet they aren't running away from participants. The Dow Jones Industrial Average (+0.4) is jogging on the back of gains for most of its components. Its relative strength makes sense in the context of Dow components providing investors a relatively safe place to park money in the stock market.

Being involved there allows for further upside potential in the event the stock market puts together a Santa Claus rally. Conversely, there is ample liquidity in those names that allows for an easier exit in the event things were to turn south.

The Dow's early strength features Boeing (BA 127.55, +1.32), IBM (IBM 160.37, +1.86), Visa (V 263.12, +1.45), and 3M (MMM 166.69, +1.21) in leadership positions.

Separately, Existing Home Sales for November were reported to have declined 6.1% from October to an annualized rate of 4.93 million units (Briefing.com consensus 5.20 mln)

9:45 am: [BRIEFING.COM] A squishy start so to speak for the major indices, which are weighing the effects of last week's V-shaped recovery effort against some early weakness in the energy sector (-1.5%), which was instrumental in that recovery effort.

From its low last Monday to its high on Friday, the S&P 500 energy sector soared 10.5%. It is on the defensive at the moment, however, pulling back along with WTI crude futures (-$0.89 at $56.24/bbl) which were unable to hold a bid overnight that carried them as high as $58.50/bbl.

The weakness in the energy sector is being offset by relative strength in the technology, industrials, and consumer discretionary sectors, all of which are up 0.4% at this juncture.


9:15 am: [BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +4.50. Not much change in the futures market action from the time of the last update. Accordingly, the cash market remains on track for a modestly higher start that will have it flirting with a new all-time high.

The energy sector will be a focal point. It stormed back last week with a 9.7% gain. Will be interesting to see where it goes today with crude futures unable to sustain an overnight rebound effort.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +6.60. Nasdaq futures vs fair value: +3.30. Markets across Asia rallied for a fourth straight day.

Economic data was limited:
Taiwan's unemployment rate held at 3.87%.

-----

Japan's Nikkei (+0.1%) edged higher. The advance was limited as heavyweight Fast Retailing surrendered 0.5%.
Hong Kong's Hang Seng (+1.3%) neared a two-week high and reclaimed the 200 dma. Energy names provided support as coal-based China Shenhua Energy surged 5.4% and Cnooc advanced 4.9%.
China's Shanghai Composite (+0.6%) closed at levels last seen in November 2010. Financials paced the advance as Bank of China and Agricultural Bank of China surged the limit, 10%.
India's Sensex (+1.2%) captured the 50 dma. Coal India led the way, up 3.8%, after reports indicated Prime Minister Modi may use executive privilege to reform the space.

The major European bourses are mostly higher. Traders await round two of the Greek presidential election, which is scheduled for tomorrow.

Economic data was light:
Greece's current account balance swung to a EUR0.198 bln deficit (EUR1.622 bln surplus previous)

-----

Britain's FTSE is higher by 0.8%. Consumer names outperform as Diageo and Burberry are both up 1.1%
Germany's DAX leads the region higher, up 1.1%. Pharma names are among the top performers as Merck and Bayer both hold gains of 1.8%.
France's CAC holds a modest 0.5% gain. Only a handful of the 40 listings trade in negative territory.

8:29 am: [BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +3.00. The futures market is showing resilience to selling efforts as it is making its way back toward its best levels of the morning. The positive disposition coincides with the favorable price action seen in foreign markets and is in keeping with the typically upbeat bias this time of year.

Remains to be seen what type of involvement there is today as it is thought the holiday-shortened week will keep participation on the low side with traders making an early break for vacation following last Friday's options expiration and quarterly rebalancing.

Crude futures still on the defensive (-$0.32 at $56.81/bbl). 10-yr Treasury note -5/32 at 2.19%.

8:02 am: [BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +4.50. The S&P futures are off their overnight highs, yet are still trading 0.3% above fair value. Gains in foreign markets and carryover momentum from last week's FOMC-induced rally have contributed to the bullish bias along with expectations that the year-end rally effort will continue on the back of performance chasing.

WTI crude futures hit $58.50/bbl overnight but have been fading from that mark in steady fashion ever since. They are currently -$0.62 at $56.51/bbl. Some of the bullish enthusiasm in the futures market was curtailed as oil prices faded.

Today's data will be limited to the Existing Home Sales report for November, which will be released at 10:00 ET.

In U.S. corporate news of note:

Achillion Pharmaceuticals (ACHN 21.42, +7.21) has spiked 50% after announcing positive Phase 2 trial data for its treatment of genotype 1 HCV-infected patients
Caesars Entertainment (CZR 13.49) said it will acquire Caesars Acquisition Company (CACQ 9.46) in an all-stock merger
AbbVie (ABBV 70.50, +2.79) trading 4.1% higher after winning FDA approval of its Hepatitis C drug, Viekira Pak
Express Scripts (ESRX 82.29, +1.32) indicated that AbbVie's Hepatitis C drug, Viekira Pak, will be the exclusive option for patients with genotype 1 hepatitis C
Gilead Sciences (GILD 100.91, -7.54) trading 7% lower following ESRX announcement


Reviewing overnight developments:

Asian markets ended higher. Hong Kong's Hang Seng +1.3%, China's Shanghai Composite +0.6%, and Japan's Nikkei +0.1%
Economic data was limited:
New Zealand's Westpac Q4 Consumer Sentiment fell to 114.8 from 116.7
In news:
Media reports suggested the Chinese government might implement industry reforms in 2015

Major European indices are trading mostly higher. France's CAC 40 +0.7%, Germany's DAX +1.2%, and UK's FTSE 100 +0.9%
In economic data:
Germany's Import Price Index for Novemberdecreased 0.8% month-over-month (expected -0.5%; previous -0.3%) while the year-over-year reading fell 2.1% (consensus -1.8%; last -1.2%)
Italy's non-EU trade surplus narrowed to EUR2.72 billion from EUR4.02 billion
In news:
Bloomberg reporting the U.S. government is pushing to have BP (BP) pay $16-18 billion in water-pollution related to 2010 Gulf of Mexico oil spill

7:28 am: [BRIEFING.COM] Nikkei...17635.14...+13.70...+0.10%. Hang Seng...23408.57...+291.90...+1.30%.

7:28 am: [BRIEFING.COM] FTSE...6596.10...+50.80...+0.80%. DAX...9886.39...+99.40...+1.00%.

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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