TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 6:42 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: December 26th Friday Trade Results - No Trades
PostPosted: Fri Dec 26, 2014 6:23 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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)


Quote:
No trades today due to personal day off to enjoy the Holidays with family.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ No Trades

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=1969

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.

Attachment:
122614-Key-Price-Action-Markets.png
122614-Key-Price-Action-Markets.png [ 1.5 MiB | Viewed 308 times ]

click on the above image to view today's price action of key markets

4:15 pm: [BRIEFING.COM] The stock market added to its holiday gain with a Friday advance that was paced by the Nasdaq Composite (+0.7%). For its part, the S&P 500 (+0.3%) climbed to a new record high at 2,088.77 with seven sectors ending in the green.

Although the major averages posted decent-sized gains, the advance occurred on below-average volume. In fact, today's NYSE floor volume of 436 million shares represented the second-lowest total of the year. This was well below the 50-day average of 808 million and only ahead of Wednesday's 340 million that was registered in a shortened session. Anemic volume wasn't unique to the U.S. session as equity indices across Europe were closed altogether while markets across Asia enjoyed a low-volume rally.

Seven sectors finished the day in the green with countercyclical utilities (+1.2%) and telecom services (+1.1%) in the lead. However, the two represent just a small fraction of the market and their performance was not as impactful as the strength in the third largest group by weight-health care (+0.7%).

The health care sector was powered by biotechnology as the industry group continued its rebound from a slip earlier in the week. The iShares Nasdaq Biotechnology ETF (IBB 306.61, +6.81) gained 2.3% and narrowed its weekly decline to 3.3% after being down as much as 7.9% at its lowest point on Tuesday.

Biotechnology was largely responsible for the outperformance of the Nasdaq, but the index also drew strength from large cap technology names like Apple (AAPL 113.99, +1.98), Google (GOOGL 541.52, +4.59), and Qualcomm (QCOM 75.62, +0.96). Chipmakers, meanwhile, struggled to keep pace with the PHLX Semiconductor Index adding 0.1%. As for the technology sector (+0.4%), the top-weighted cyclical group settled ahead of the broader market.

Elsewhere among cyclical sectors, consumer discretionary (+0.5%) was the only other area of outperformance thanks to broad strength. Groupon (GRPN 8.14, +0.25) caught some attention, spiking 3.2% after Korea Times reported that Goldman Sachs may purchase Groupon-owned Ticket Monster.

Other cyclical sectors finished behind the broader market with energy (unch) ending at the bottom of the leaderboard. The growth-sensitive sector began the day among the leaders, but was pressured from its early high by intraday weakness in crude oil. Crude futures were up as much as 1.0% overnight following reports of an attack on an oil storage tank at Libya's largest port. The strength was short-lived as oil reversed, and tumbled throughout the day to end lower by 2.0% at $54.65/bbl. The resulting weakness in the sector pressured major components like Chevron (CVX 113.25, -0.22) and ExxonMobil (XOM 93.21, -0.57), which in turn, weighed on the Dow Jones Industrial Average (+0.1%).

In other commodities, copper futures fell 1.5% to $2.812/lb into the neighborhood of early December lows while gold climbed 1.8% to $1.194.30/ozt.

Treasuries posted modest gains with the 10-yr yield slipping one basis point to 2.25%.

Monday's session will be free of economic data.

Nasdaq Composite +15.1% YTD
S&P 500 +13.0% YTD
Dow Jones Industrial Average +8.9% YTD
Russell 2000 +4.4% YTD

Week in Review: New Records for Dow and S&P 500

The stock market kicked off the abbreviated week with a Monday advance that sent the Dow Jones Industrial Average and S&P 500 to new all-time highs. The Dow finished ahead of the S&P 500 with 27 of its 30 components ending higher. Meanwhile, the S&P 500 was held back by the underperformance of health care names, and especially, biotechnology. Health care was weak due in large part to a large loss in Gilead Sciences (GILD), which followed reports that pharmacy benefits manager Express Scripts (ESRX) is going to displace Gilead's hepatitis C drug, Sovaldi, in favor of a less expensive offering from AbbVie (ABBV), Viekira Pak, which recently won FDA approval and will become the exclusive option in the formulary for patients with genotype 1 hepatitis C.

The Dow Jones Industrial Average (+0.4%) and S&P 500 (+0.2%) rallied to new record highs on Tuesday with the Dow crossing above the 18,000 mark for the first time. However, widespread losses in the biotechnology group prevented the Nasdaq Composite (-0.3%) from taking part in the rally. Equity indices began the day in the green after a better than expected revision to Q3 GDP (5.0%; Briefing.com consensus 4.3%) provided a pre-market boost. The GDP report was a bright spot among a torrent of mostly disappointing data, which was taken in stride by the market. Nine of ten sectors registered gains with the energy space (+1.3%) ending in the lead. The growth-sensitive sector opened ahead of other groups and held the lead into the close. Crude oil, meanwhile, settled higher by 3.1% at $57.09/bbl and continued its advance in electronic trading with the move taking place even as the Dollar Index (90.13, +0.36) climbed 0.4%.

The stock market had the rug pulled out from under it as the Christmas Eve session headed for the close. The S&P 500 ended flat after surrendering a five-point gain while the Nasdaq Composite (+0.2%) outperformed. The key indices started with slim gains and inched higher into the afternoon amid light volume, before a wave of selling interest knocked the indices from their highs. Only 340 million shares changed hands at the NYSE floor, which was a far cry from the average full session total of about 826 million. Only three sectors finished in the green while energy (-0.8%) played the role of Grinch. The growth-sensitive group could not make it into positive territory as crude oil weighed. The energy component fell 3.6% to $55.08/bbl with a larger than expected inventory build contributing to the weakness.

Bond and equity markets were closed on Thursday for Christmas.

3:40 pm: [BRIEFING.COM]

Oil prices sold off in afternoon trade, ending the day $1.12 at $54.74/barrel
Natural gas ended the day 2 cents lower at $3.01/MMBtu.
However, in electronic trading activity, nat gas is climbing a little higher and moved back into positive territory
In the end of today's pit trading session, Feb nat gas fell 2 cents to $3.01, but ran back up to $3.05/MMBtu after hours
Precious metals showed some nice gains today
Feb gold rose $20.70/oz to $1195.30/oz, while Mar silver gained $0.41 to $16.16/oz
Copper sold off a bit today, ending the session 4 cents lower at $2.81/lb

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.5% with one hour remaining in a sleepy Friday session. Equities have climbed since the start, but the advance has been steady and driven by the biotechnology group in particular. The iShares Nasdaq Biotechnology ETF (IBB 306.05, +6.25) trades higher by 2.1%, which has helped the health care sector add 0.8%. Telecom services (+0.9%) and utilities (+1.1%) have fared better, but the pair represents the two smallest sectors by weight.

Above all, today's trading volume is likely to represent the lowest total of the year considering only 235 million shares have changed hands at the NYSE so far. The current total falls behind Wednesday's tally of 340.3 million, which was recorded in an abbreviated session.

2:30 pm: [BRIEFING.COM] Equity indices remain near their highs while crude oil has dropped to fresh lows. The commodity trades down 2.0% at $54.75/bbl, which has pressured the energy sector (-0.4%) into negative territory.

The weakness within the energy space has certainly slowed the market down, but it has not prevented an otherwise broad-based advance. Health care (+0.8%) and consumer discretionary (+0.8%) have done some heavy lifting while technology (+0.6%) joined the leaders as the session wore on.

Elsewhere, Treasuries have maintained modest gains with the 10-yr yield down a basis point at 2.25%.

2:00 pm: [BRIEFING.COM] The Nasdaq (+0.8%) has extended to a fresh high thanks to additional gains in biotechnology and heavily-weighted index components like Apple (AAPL 113.79, +1.78), Google (GOOGL 542.30, +5.37), and Qualcomm (QCOM 75.63, +0.97). Chipmakers, meanwhile, continue trailing the index with the PHLX Semiconductor Index up 0.3%.

Biotechnology remains an influential driver for the Nasdaq and the broader market with the iShares Nasdaq Biotechnology ETF (IBB 306.56, +.675) higher by 2.3%. Thanks to today's gain, the ETF has narrowed this week's decline to 3.3% after being down as much as 7.9% on Tuesday.

1:30 pm: [BRIEFING.COM] The S&P 500 (+0.5%) has crawled back to its opening high.

A second consecutive, holiday-shortened week offers another condensed economic calendar. Highlights include consumer confidence, ISM Index, and November construction spending.

Over the last month, lower oil prices, improved employment conditions, and an upward trending stock market led the University of Michigan Consumer Sentiment Index up almost 5 points to its highest level since January 2007.

The regional Federal Reserve manufacturing surveys were mixed, but generally showed good manufacturing conditions. Small improvements were seen in both the Richmond and Kansas City regions. Conditions decelerated but remained extremely robust in Philadelphia.

Private residential construction spending increased 1.3% in October. The number of homes currently under construction increased 1.2% in November, which should translate into continued residential construction growth.

1:00 pm: [BRIEFING.COM] The major averages sport midday gains in an otherwise sleepy, post-holiday session. The Nasdaq Composite (+0.7%) and Russell 2000 (+0.6%) lead the way while the S&P 500 (+0.4%) follows not far behind. For its part, the Dow Jones Industrial Average (+0.2%) has cut its opening gain in half.

Equity indices climbed out of the gate amid broad strength. The energy sector was among the early leaders, but the growth-sensitive group has narrowed its gain to just 0.2% amid weakness in crude oil. The energy component was up near 1.0% overnight, but began slipping shortly after the pit session began. At this juncture, oil trades just above its session low, down 0.9% at $55.34/bbl.

Elsewhere among commodities, copper futures have dropped 1.6% to $2.807/lb while gold has climbed 2.0% to $1,196.40/ozt. The moves have taken place amid a slight uptick in the Dollar Index, which is higher by 0.1% with the greenback holding gains against the euro and yen.

The slide from highs in the energy sector has had little effect on the broader market, which remains underpinned by heavily-weighted sectors like consumer discretionary (+0.5%) and health care (+0.7%). The technology sector is keeping pace with the S&P 500 while financials (+0.2%) lag.

Notably, the strength in the health care space has been driven by biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 304.91, +5.11) has spiked 1.7%, which helps explain the outperformance of the Nasdaq. The tech-heavy index has also received a helping hand from its top component-Apple (AAPL 113.34, +1.32)-which has added 1.2%.

All in all, there are no grand conclusions to be drawn from today's session as participation is almost certain to remain limited. To that point, only 168 million shares have changed hands at the NYSE floor so far today.

Treasuries hold modest gains with the 10-yr yield down one basis point at 2.25%.

12:30 pm: [BRIEFING.COM] Recent action saw the major averages inch away from their highs amid some slippage in the biotech space. The iShares Nasdaq Biotechnology ETF (IBB 304.53, +4.73) has narrowed its advance to 1.6%. That being said, sector standing remains little changed with health care (+0.6%) staying ahead of the market, alongside utilities (+1.4%), telecom services (+0.8%), and consumer discretionary (+0.5%).

Elsewhere, crude oil has extended its decline to 1.0% at $55.27/bbl, which has pressured the energy sector (+0.1%) from its high.

Also of note, Treasuries have trimmed their gains, returning the 10-yr yield to 2.25%.

11:55 am: [BRIEFING.COM] The S&P 500 (+0.4%) remains inside a two-point range that has been in effect since the opening spike while the Nasdaq (+0.6%) has extended its advance.

Biotechnology remains a supportive factor for the tech-heavy index with the iShares Nasdaq Biotechnology ETF (IBB 305.60, +5.80) trading higher by 1.9%. In addition, chipmakers have climbed into the green after a sleepy start. The PHLX Semiconductor Index is now higher by 0.2%.

While the Nasdaq has continued heading higher, crude oil remains under pressure-now down 0.9% at $55.36/bbl.

11:30 am: [BRIEFING.COM] Equity indices continue drifting near their best levels of the session with the Russell 2000 holding the lead.

Unlike stocks, major commodities have shown some volatility today. Crude oil was up as much as 1.0% overnight following reports of an attack on an oil storage tank at a port in Libya, but the gain faded and the energy component now trades lower by 0.6% at $55.52/bbl. Elsewhere, copper is lower by 1.4% at $2.813/lb while gold has climbed 1.7% to $1,193.60/ozt.

Meanwhile, energy (+0.5%) and materials (+0.5%) sectors trade ahead of the broader market.

10:55 am: [BRIEFING.COM] Not much change with the major averages remaining near their highs. The Nasdaq Composite (+0.5%) continues trading ahead of the S&P 500 (+0.4%), but it is the Russell 2000 (+0.6%) that holds the lead for the time being.

The relative strength among small caps has been a supportive factor for high-beta areas like biotechnology and homebuilders. The iShares Nasdaq Biotechnology ETF (IBB 305.80, +6.00) has extended its advance to 2.0% while iShares Dow Jones US Home Construction ETF (ITB 25.54, +0.19) has added 0.8%.

However, it's not all sunshine in high-beta land as chipmakers lag with the PHLX Semiconductor Index trading flat. Elsewhere, the Dow Jones Transportation Average (+0.3%) trades a bit behind the market amid softness in logistics companies like FedEx (FDX 176.30, -0.12) and UPS (UPS 112.09, -0.32).

10:35 am: [BRIEFING.COM]

Brent and WTI crude oil prices were trading higher this morning following unfortunate attacks in Libya
Over the summer, Libya was coming back online and producing more, even though political uncertainty remained
After rebels allowed oil fields and terminals to reopen, oil output finally began to rise again
In October, it was estimated that by the end of October, Libya would be back at producing 1 million barrels per day and over 1 mln in early 2015
In early October, over 800,000 barrels were being produced. Now, production is running at about 352,000 barrel per day, which is half of production seen in November
Separately, Saudi Arabia issued its 2015 budget yesterday and estimates are largely showing that Brent oil at $80 is the assumed price for its budget
If the Saudis are using an assumed price of $80/barrel for its 2015 budget, this is positive and sends a signal to the market
Feb WTI crude oil is -0.1% now at $55.78/barrel after rolling over from its HoD
Natural gas is weak this morning and fell below $3/MMBtu... now -1.5% at $2.99/MMBtu
Precious metals are showing some nice gains this morning
Feb gold is +1.7% at $1193.60/oz in current trade, while Mar silver is +2.5% at $16.10/oz
The dollar index is at its HoD, but still modestly higher at 90.02, up 0.1%

9:55 am: [BRIEFING.COM] Equity indices continue showing strength with the Nasdaq Composite (+0.5%) in the lead.

Although the market has been relatively quiet this week, the same cannot be said for biotechnology. The high-beta group tumbled at the start of the week with the iShares Nasdaq Biotechnology ETF (IBB 304.35, +4.71) dipping below its 50-day average; however, the ETF trades higher by 1.5% today, which has narrowed its decline for the week to about 4.1%. Meanwhile, the health care sector (+0.8%) trades only behind utilities (+1.2%).

Elsewhere among high-beta groups, chipmakers trail the broader market with the PHLX Semiconductor Index higher by 0.3%.

9:40 am: [BRIEFING.COM] As expected, the major averages climbed out of the gate amid broad strength. The S&P 500 is higher by 0.4% with nine sectors showing gains.

The energy sector (+0.8%) began the session in the lead, but it is worth pointing out that crude oil has slipped from its high after being up as much as 1.0%. Currently, the energy component trades little changed at $55.81/bbl.

Outside of energy, health care (+0.5%), utilities (+0.8%), and consumer discretionary (+0.5%) trade ahead of the broader market. On the flip side, the smallest sector by weight-telecom services (-0.1%)-holds a slim loss.

Treasuries remain in the green with the 10-yr yield lower by a basis point at 2.25%.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +13.30. The stock market is on track for a modestly higher open with futures on the S&P 500 trading six points above fair value. Futures on the benchmark index jumped to highs last evening and have maintained a two-point range, which is understandable considering markets across Europe. In that same vein, today's session is expected to generate below-average volume with many participants enjoying an extended holiday weekend.

Investors did not receive any economic data or noteworthy corporate news this morning. However, major components of the energy sector like Chevron (CVX 114.25, +0.78) and ExxonMobil (XOM 94.39, +0.59) are on track to register early gains as crude oil trades higher by 0.9% at $56.31/bbl.

Treasuries hold gains with the 10-yr yield down two basis points at 2.24%.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +12.30. The S&P 500 futures trade six points above fair value.

Markets rallied across Asia.

In economic data:
Japan's Corporate Services Price Index rose 3.6% (consensus 3.5%; previous 3.6%) while Household Spending increased 0.4% month-over-month (expected 0.2%; previous 0.9%). Separately, National CPI slowed to 2.4% year-over-year from 2.9% and National Core CPI eased to 2.7% from 2.9%, as expected. Tokyo CPI eased to 2.3% year-over-year from 2.4% while Tokyo Core CPI ticked down to 2.3% from 2.4% (consensus 2.4%). Housing Starts fell 14.3% year-over-year (expected -13.2%; last -12.3%) while the Unemployment Rate held at 3.5%, as expected. Lastly, Industrial Production slipped 0.6% month-over-month (consensus 1.0%; prior 0.4%) and Retail Sales increased 0.4% year-over-year (expected 1.1%; last 1.4%)
Singapore's Industrial Production fell 1.4% month-over-month (expected 0.5%; previous 2.3%) while the year-over-year reading fell 2.8% (consensus 0.7%; last -0.2%)

------

Japan's Nikkei inched up 0.1% amid a quiet session. Utilities paced the advance with Tokyo Electric Power surging 5.2% in response to reports suggesting top executives are unlikely to be indicted for their handling of the March 2011 disaster.
Hong Kong's Hang Seng was closed.
China's Shanghai Composite rallied 2.8% to its best close since November 2010. Financials led the way with Citic Securities climbing the limit, 10%, on news lenders will be allowed to use more of their money for loans
India's Sensex added 0.1% after finding support near the 100-day average. IT service providers were among the top performers as Infosys and Tata Consultancy Services gained 1.1% and 1.0%, respectively.

Markets across Europe are closed for Boxing Day.

8:26 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +11.30. Equity futures continue drifting near their best levels of the morning, which should remain the case until the opening bell, barring an unforeseen headline shock. For the most part, U.S. futures have been left to their own devices with most markets remaining closed for Christmas. This has left Russia and Turkey as the only two countries with equity exchanges that are open for action.

Elsewhere, Treasuries have added to their gains, pressuring the 10-yr yield to 2.24% (-2 bps).

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +10.70. U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover five points above fair value. Things are setting up for a very quiet start to the Friday session with markets across Europe shuttered for Boxing Day. Domestically, investors did not receive any earnings or data this morning, which has kept futures in narrow ranges near their highs.

On the commodity front, crude oil has climbed 0.9% to $56.35/bbl while Natural Gas (3.010, -0.02) has dipped below the $3.00/MMBtu mark before inching back above that level.

Treasuries hold slim gains with the 10-yr yield down one basis point at 2.25%.

In U.S. corporate news of note:

The overnight rebound in crude oil has given a boost to major components of the energy sector like Chevron (CVX 114.49, +0.94) and ExxonMobil (XOM 94.40, +0.62). The two names are both up near 0.7%.

Reviewing overnight developments:

Asian markets ended higher. Japan's Nikkei +0.1%, China's Shanghai Composite +2.8%, and Hong Kong's Hang Seng was closed.
In economic data:
Japan's Corporate Services Price Index rose 3.6% (consensus 3.5%; previous 3.6%) while Household Spending increased 0.4% month-over-month (expected 0.2%; previous 0.9%). Separately, National CPI slowed to 2.4% year-over-year from 2.9% and National Core CPI eased to 2.7% from 2.9%, as expected. Tokyo CPI eased to 2.3% year-over-year from 2.4% while Tokyo Core CPI ticked down to 2.3% from 2.4% (consensus 2.4%). Housing Starts fell 14.3% year-over-year (expected -13.2%; last -12.3%) while the Unemployment Rate held at 3.5%, as expected. Lastly, Industrial Production slipped 0.6% month-over-month (consensus 1.0%; prior 0.4%) and Retail Sales increased 0.4% year-over-year (expected 1.1%; last 1.4%)
Singapore's Industrial Production fell 1.4% month-over-month (expected 0.5%; previous 2.3%) while the year-over-year reading fell 2.8% (consensus 0.7%; last -0.2%)
In news:
China's Shanghai Composite surged amid continued expectations for more easing from the PBoC. In addition, the PBoC is expected to loosen reserve requirements for lenders.

Markets across Europe are closed for Boxing Day
There was no data or news coming out of the region

7:24 am: [BRIEFING.COM] S&P futures vs fair value: +4.70. Nasdaq futures vs fair value: +11.10.

7:24 am: [BRIEFING.COM] Nikkei...17819...+10.00...+0.10%. Hang Seng...23349.34...+15.70...+0.10%.

7:24 am: [BRIEFING.COM] FTSE...Holiday......... DAX...Holiday.........

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

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

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


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr