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 Post subject: January 23rd Friday Trade Results - Loss $760.00
PostPosted: Fri Jan 23, 2015 6:56 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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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 @ ($760.00) dollars or -7.60 points, Emini ES ($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 Loss @ ($760.00) 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=139&t=1988

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=255&t=2625

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Market Context Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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

4:10 pm: [BRIEFING.COM] The stock market capped a solid week with a shaky Friday session. The S&P 500 lost 0.6%, but still gained 1.6% for the week while the Nasdaq Composite (+0.2%) was able to register its fifth consecutive advance.

Equity indices began the day amid selling activity that started in the futures market after UPS (UPS 102.93, -11.32) issued disappointing guidance due to weakness in the U.S. domestic segment. The logistics company plunged below its 100-day moving average to end lower by 9.9%. The big loss weighed on the Dow Jones Transportation Average, which lost 1.8% and pressured the industrial sector (-0.8%).

The S&P 500 followed the opening slip with an eight-point rally off its morning low after European Central Bank member Benoit Coeure said the bank will need to do more if the quantitative easing program that was announced yesterday does not produce the desired outcome.

Despite the morning charge off session lows, the index never made it into the green and slid to a new low during the final hour of the trading day. The industrial sector kept the pressure on the market throughout the day while other influential groups like financials (-1.0%) and consumer staples (-1.1%) kept the S&P 500 from moving into the green.

The financial sector struggled despite better than expected reports from a slew of regional banks. The economically-sensitive group widened its January decline to 3.5% in response to a combination of slow global growth and sinking yields around the world.

Elsewhere, the consumer staples sector hovered near the bottom of the leaderboard after Kimberly-Clark (KMB 111.65, -7.33) reported below-consensus results and issued cautious guidance, which failed to justify the company's rich valuation.

Also of note, the energy space (-0.9%) spent the bulk of the day in-line with the market, but finished among the laggards as crude oil remained weak. The energy component showed overnight volatility after it was reported Saudi Arabia's King Abdullah has died.

WTI crude was able to make an intraday appearance in the green, but ended lower by 1.8% at $45.56/bbl. Once again, dollar strength was a headwind with the Dollar Index (94.92, +0.86) spiking 0.9%.

On the upside, utilities (+0.3%) and technology (+0.2%) were the only two advancers. The utilities sector solidified its spot atop the January leaderboard (+4.2%) while technology received support from large cap names. Chipmakers were not as fortunate with the PHLX Semiconductor Index ending lower by 0.3%. The high-beta group finished ahead of the S&P 500, but behind the tech sector after KLA-Tencor (KLAC 65.42, -5.53) issued disappointing guidance that overshadowed better than expected results.

Outside of technology, the consumer discretionary sector (-0.2%) was the only other group able to finish near its flat line. Starbucks (SBUX 88.12, +5.38) soared 6.5% even though its in-line report featured below-consensus guidance for the second quarter while McDonald's (MCD 89.56, -1.33) lost 1.5% after missing estimates and priming the market for negative comparable store sales in January.

Treasuries ended near their highs with the 10-yr yield sliding six basis points to 1.80%. Meanwhile, the long bond spiked to pressure its yield to the lowest close on record (2.39%).

Participation was a bit below average with roughly 765 million shares changing hands at the NYSE floor.

Economic data was limited to Existing Home Sales and Leading Indicators:
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Stocks End Five-Day Slide; HDFC Bank Rises Investor's Business Daily
Stock Market News for January 19, 2015 - Market News Zacks
Wall Street falls as oil prices weigh on energy sector Reuters

Existing home sales increased 2.4% in December to 5.04 million SAAR from a downwardly revised 4.92 million SAAR (from 4.93 million SAAR) in November while the Briefing.com consensus expected an increase to 5.10 million SAAR.
Improvements in the labor market, gains in stock prices, and a general decline in mortgage rates were not enough to boost housing demand in 2014. For the year, 4.93 million homes were sold, which was down 3.1% from the 5.09 million homes sold in 2013
The Conference Board's Leading Economic Index increased 0.5% in December (consensus 0.5%) after increasing a downwardly revised 0.4% (from 0.6%) in November

There is no economic data on Monday's schedule, but investors will be responding to the results of the Greek election and its implications for financial markets.

Nasdaq Composite +0.5% YTD
S&P 500 -0.3% YTD
Dow Jones Industrial Average -0.8% YTD
Russell 2000 -1.1% YTD

Week in Review: Action Driven By Central Banks

Bond and equity markets were closed on Monday for Martin Luther King Day

The stock market kicked off the holiday-shortened week with a shaky Tuesday session. The S&P 500 settled higher by 0.2% after finding intraday support near its 100-day moving average (2007/2008). The tech-heavy Nasdaq outperformed, climbing 0.4%. Equity indices started the day with modest gains, but continued weakness in crude oil weighed on the overall risk tolerance and contributed to an early retreat. However, a handful of influential sectors were able to withstand the selling pressure, which in turn became a supportive factor during afternoon action. As for crude, the energy component retreated after The International Monetary Fund cut its 2015 global growth outlook to 3.0% from 3.5%, and continued sliding throughout the session. WTI crude ended lower by 4.1% at $46.51/bbl while the energy sector (+0.1%) settled near its flat line. Baker Hughes (BHI) beat estimates, but announced plans to reduce its workforce by 7,000 employees.

Equities enjoyed their third consecutive advance on Wednesday with the S&P 500 climbing 0.5%. The Wednesday session was filled with central bank-related storylines. The Bank of Japan got the ball rolling overnight by lowering its inflation outlook to 1.0% from 1.7%, which boosted the yen (117.80). The Bank of England was next on tap with the minutes from its latest policy meeting. The minutes were a bit surprising as Messrs. McCafferty and Weale, who previously voted in favor of rate hikes, rejoined the majority in their belief that hiking rates too early would prolong the period of low inflation. Global equities jumped off their lows in reaction to reports indicating the European Central Bank is set to propose EUR50 billion in asset purchases through 2016. The euro wobbled on the news before ending the day near 1.1590 against the dollar. In a surprising move, Germany's 10-yr note tumbled, sending the benchmark yield higher by seven basis points to 0.47%. The Bank of Canada completed the central bank bonanza with a surprise 25-basis point cut to 0.75% in response to crashing oil prices, which are expected to put downward pressure on Canadian inflation. The loonie retreated to its lowest level since early 2009, sending USDCAD to 1.2330 from 1.2070.

The major averages registered their fourth consecutive advance on Thursday with the S&P 500 (+1.5%) reclaiming its 50-day moving average (2046/2047). The benchmark index erased its January loss while the Russell 2000 (+2.0%) displayed relative strength throughout the day. This week featured action from several major central banks and that extravaganza was topped off on Thursday when the European Central Bank announced the highly-anticipated launch of a quantitative easing program in the amount of EUR60 billion per month. In short, the program is aimed at stopping deflation that is due, in part, to low oil prices. However, the thought process behind the action is a bit questionable considering QE is expected to weigh on the euro, which will boost the dollar, thus putting pressure on dollar-denominated commodities like crude oil, which is at the root of eurozone's deflationary tilt.

3:30 pm: [BRIEFING.COM]

WTI crude oil prices lost steam late in the day and fell back below $46/barrel
At the end of today's session, Mar crude oil closed $0.82 lower at $45.56/barrel
Natural gas held its gains and climbed higher today, on a colder-than-expected weather forecast, finishing at $2.98, up 5%
Feb gold gained $9.10 to $1292.40/oz, while Mar silver ended $0.06 lower at $18.30/oz
Mar copper sold off today, losing 3.1% to $2.50/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.3% with one hour remaining in the Friday session.

Generally speaking, today's affair has been very quiet with the major averages spending the duration of the day near their flat lines. The Nasdaq Composite (+0.2%) outperforms while the Russell 2000 (-0.1%) has slipped back into the red after spending the bulk of the day just above its flat line.

The subdued activity has manifested itself through below average trading volume with only 450 million shares having changed hands at the NYSE so far today. As for market breadth, the A/D line continues favoring sellers with 1.1 issues trading in the red for each advancer.

2:25 pm: [BRIEFING.COM] The S&P 500 (-0.2%) has slipped from its recent level after failing to overtake its flat line. The benchmark index has spent the duration of the session in negative territory, but is still up 2.0% for the week.

The technology sector (+0.4%) is among today's leaders and is now up 3.3% for the week. Furthermore, the tech sector is the only cyclical group trading with a January gain (+0.5%). Large cap components have fueled today's move, evidenced by solid gain among the likes of Apple (AAPL 113.32, +0.92), IBM (IBM 156.96, +1.57), Google (GOOGL 544.12, +6.82), SAP (SAP 64.77, +0.42), and Visa (V 259.01, +1.41).

However, high-beta chipmakers have not been able to keep pace with the sector. The PHLX Semiconductor Index is lower by 0.2% with about 2/3 of the index in the red.

1:55 pm: [BRIEFING.COM] The S&P 500 hovers right near the flat line.

Improvements in the labor market, gains in stock prices, and a general decline in mortgage rates were not enough to boost housing demand in 2014. For the year, 4.93 mln homes were sold. That was down 3.1% from the 5.09 mln homes sold in 2013.

Existing home sales in December were relatively strong compared to the yearly output, but the underlying conditions -- namely inventories -- remain restrictive.

Inventory levels plummeted 11.1% in December to 1.85 mln. At the current sales pace, inventory levels represented a 4.4 months' supply. A 6 months' supply is considered normal.

1:35 pm: [BRIEFING.COM] The major U.S. indices continue to be mixed at this time in what has developed into a fairly quiet trading session.

The S&P sectors remain mixed, with the largest declines being observed in Materials (-1.1%) after an earlier downgrade to U.S. Steel (X 20.84, -1.87) at Goldman Sachs weighs heavily on the sector. While energy (-0.6%) is also lower on day with crude oil -1.3% (-0.60 to $45.79/bbl), the fossil fuel saw little reaction after Baker Hughes (BHI 58.59, +0.38) released its weekly rig data that showed it's total U.S. rig count declined for the 7th week in a row.

Elsewhere, shares of GoPro (GPRO 51.50, +3.15) are enjoying strong gains after missing out on yesterday's broad market rally. The company earlier announced a partnership with the NHL for players to wear GoPro cameras on their helmets during games.

12:55 pm: [BRIEFING.COM] The major averages are mixed at midday with the Nasdaq (+0.3%) and Russell 2000 (+0.1%) defending slim gains while the Dow (-0.2%) and S&P 500 (-0.1%) have spent the first half of the day in negative territory.

After climbing in each of the past four sessions, equity indices started the Friday affair under modest pressure. The market dropped to a fresh low 90 minutes into the trading day, but charged off that level after European Central Bank member Benoit Coeure said the central bank will need to do more if the quantitative easing program that was announced yesterday does not produce the desired outcome. This served as yet another reminder that central banks remain in position to influence the direction of the market.

The S&P 500 spiked about eight points off its low immediately after Mr. Coeure's remarks, but the benchmark index remains in negative territory with influential sectors like financials (-0.4%), industrials (-0.2%), and consumer staples (-0.7%) exerting pressure on the market.

The financial sector has widened its January loss to 3.2%, which puts the growth-sensitive group well behind its peers. The second weakest performer-energy-trades higher by 0.2% today, but is down 2.1% for the month. Meanwhile, crude oil gyrated overnight after it was reported Saudi Arabia's King Abdullah has died. Currently, the energy component is lower by 1.1% at $45.79/bbl.

Elsewhere, the industrial sector has faced notable weakness among transport stocks. The Dow Jones Transportation Average is lower by 1.4% after UPS (UPS 103.60, -10.65) issued disappointing guidance due to weakness in the U.S. domestic segment. The stock has surrendered 9.4% and currently trades between its 100- and 200-day moving averages while peer FedEx (FDX 177.64, -3.76) is lower by 2.1%.

Over on the countercyclical side, the consumer staples sector (-0.6%) has suffered after Kimberly-Clark (KMB 111.94, -7.04) reported below-consensus results and issued cautious guidance. Shares of KMB have tumbled 5.9%.

Treasuries hold solid gains with the 10-yr yield down five basis points at 1.82%--essentially unchanged for the week.

Economic data was limited to Existing Home Sales and Leading Indicators:

Existing home sales increased 2.4% in December to 5.04 million SAAR from a downwardly revised 4.92 million SAAR (from 4.93 million SAAR) in November while the Briefing.com consensus expected an increase to 5.10 million SAAR.
Improvements in the labor market, gains in stock prices, and a general decline in mortgage rates were not enough to boost housing demand in 2014. For the year, 4.93 million homes were sold, which was down 3.1% from the 5.09 million homes sold in 2013
The Conference Board's Leading Economic Index increased 0.5% in December (consensus 0.5%) after increasing a downwardly revised 0.4% (from 0.6%) in November

12:30 pm: [BRIEFING.COM] The major averages continue trading in mixed fashion, which is also the case with the ten economic sectors.

Energy (+0.2%), technology (+0.1%), and utilities (+0.5%) are trying to maintain their modest gains while the consumer discretionary sector (+0.1%) finds itself in a battle with its flat line. Starbucks (SBUX 88.20, +5.46) has surged 6.6% even though its in-line report featured below-consensus guidance for the second quarter while McDonald's (MCD 89.76, -1.12) is lower by 1.2% after missing estimates and priming the market for negative comparable store sales in January.

Meanwhile, the consumer staples sector (-0.8%) has been pressured by Kimberly-Clark (KMB 111.38, -7.60), which trades down 6.4% in reaction to disappointing results and cautious guidance.

11:55 am: [BRIEFING.COM] Equity indices remain near their recent levels with the Dow (-0.3%) and S&P 500 (-0.2%) in the red while Nasdaq Composite (+0.2%) and Russell 2000 (+0.1%) sport modest gains.

Despite the mixed action today, all four averages are on track to post solid gains for the week. At this juncture, the Nasdaq, which is higher by 2.7% for the week, has had the best showing while the other indices trade a bit behind. The Dow and Russell 2000 have added 1.4% apiece while the S&P 500 is higher by 1.9% since last Friday.

Nine of ten sectors are on track to post weekly gains between 0.9% (consumer staples) and 3.1% (technology) while the telecom services sector has given up 0.9% since the end of last week.

11:30 am: [BRIEFING.COM] The key indices remain near their flat lines with the S&P 500 lower by 0.1%. Given its current level, the benchmark index is now flat for the month of January.

Sevens sectors continue trading in the red with materials (-0.8%) and telecom services (-0.9%) at the bottom of the leaderboard; however, the two groups carry little influence over the broader market since they represent just 6.0% of the entire market. Meanwhile, the financial sector, which accounts for almost 16.0% of the market, trades lower by 0.4%. State Street (STT 72.61, -4.48) has given up 5.8% despite beating estimates while Capital One (COF 77.62, +1.42) has been able to add 1.9% after missing bottom-line estimates on better than expected revenue.

Elsewhere, Treasuries hold gains with the 10-yr yield down five basis points at 1.81%.

11:00 am: [BRIEFING.COM] The stock market has dropped to new lows before spiking off those levels. The S&P 500 is lower by 0.1% while the Nasdaq (unch) outperforms, but the tech-heavy index has been pressured back to its flat line.

The Nasdaq owes its outperformance to a handful of large cap names like Google (GOOGL 543.38, +6.08), Oracle (ORCL 44.36, +0.31), Visa (V 259.14, +1.54), and Facebook (FB 77.99, +0.34). However, high-beta chipmakers have not played along. The PHLX Semiconductor Index is lower by 0.3% with KLA-Tencor (KLAC 65.94, -5.01) down 7.1% after its cautious guidance overshadowed better than expected results.

Unlike chipmakers, high-beta biotech names trade a bit ahead of the broader market with the iShares Nasdaq Biotechnology ETF (IBB 321.20, +0.23) trading flat while the health care sector (-0.2%) trades in-line with the S&P 500.

Elsewhere, the utilities sector (+0.8%) represents the top performer, extending its January gain to 4.6%.

10:35 am: [BRIEFING.COM]

The dollar index is trading higher again, which is weighing on some commodities this morning, such as copper and precious metals.
However, the index has been steadily pulling back off of its HoD
Natural gas futures are currently the best performing commodity so far today, following a colder-than-expected weather forecast
The Feb contract is currently +4.2% at $2.95/MMBtu
Mar WTI crude oil, on the other hand, sold off in morning trade and just hit a new LoD of $45.35/barrel
However, crude has recovered off its LoD and is now +0.1% at $46.35/barrel
Copper futures are very weak this morning and are currently -2.6% at $2.51/LB
Feb gold is currently -0.3% at $1296.40/oz, while Mar silver is -0.4% at $18.28/oz.

10:00 am: [BRIEFING.COM] The S&P 500 trades lower by 0.3%.

Existing Home Sales for December were reported to have increased 2.4% from November to an annualized rate of 5.04 million units (Briefing.com consensus 5.10 million)

Separately, the Leading Indicators report for December was up 0.5%, which matched the Briefing.com consensus estimate. That followed a revised 0.4% increase in November (from 0.6%).

9:40 am: [BRIEFING.COM] The major averages have begun the Friday session in the red with the S&P 500 lower by 0.2%. Seven of ten sectors are among the early decliners while consumer discretionary (+0.1%), financials (+0.1%), and utilities (+0.5%) outperform.

On the downside, consumer staples (-0.7%) and materials (-0.7%) occupy the bottom of the leaderboard while the industrial sector (-0.5%) trades just ahead of the two amid weakness in the Dow Jones Transportation Average. The bellwether complex is lower by 1.1% after UPS (UPS 104.22, -10.03) issued cautious guidance.

Elsewhere, Treasuries continue holding gains with the 10-yr yield down four basis points at 1.83%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -4.50. The stock market is on track for a lower open following a recent retreat in the futures market.

Index futures spent the night in a steady climb while markets overseas charged higher following yesterday's QE announcement from the European Central Bank. The overnight advance has extended into the European session with markets in France (+1.6%) and Germany (+1.7%) building on yesterday's gains.

However, U.S. futures have retreated from their highs after UPS (UPS 104.00, -10.25) issued cautious guidance, blaming an underperforming U.S. domestic segment. The stock is on track to open lower by 9.0% while peer FedEx (FDX 177.60, -3.80) trades lower by 2.1% in pre-market.

Meanwhile on the foreign exchange front, the euro has given up more ground and currently trades near 1.1230 against the dollar (-130 pips). In turn, this has boosted the Dollar Index (94.83, +0.76). Also of note, demand for sovereign debt has pressured Germany's 10-yr yield lower by seven basis points to 0.33%. Similarly, U.S. Treasuries are in demand with the benchmark yield down four basis points at 1.83%.

Existing Home Sales for December (Briefing.com consensus 5.10 million) and December Leading Indicators (consensus 0.5%) will be released at 10:00 ET.

8:53 am: [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: +0.20. The S&P 500 futures trade two points below fair value.

Markets rallied across Asia after the European Central Bank became the latest central bank to join the QE party.

In economic data:
Japan's Manufacturing PMI ticked up to 52.1 from 52.0
China's HSBC Manufacturing PMI rose to 49.8 from 49.6 (expected 49.6)
South Korea's GDP rose 0.4% quarter-over-quarter, as expected, while the year-over-year reading increased 2.7% (consensus 2.8%; prior 3.2%)
Singapore's CPI slipped 0.2% year-over-year (expected -0.1%; prior -0.3%)

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Japan's Nikkei climbed 1.1% to a three-week high and reclaimed the 50-day average. Heavyweight Softbank continued to gain, tacking on 4.2%.
Hong Kong's Hang Seng rose 1.3%, hitting a four and half-month high. Real estate developers were out in front as Sino Land and Cheung Kong rallied 3.7% and 3.0%, respectively.
China's Shanghai Composite added 0.3% to recoup virtually all of last Friday's losses. Financials saw solid gains with ICBC adding 2.1%.
India's Sensex rose 0.9% to register its fourth consecutive record close. Blue chips paced the advance as Tata Motors gained 3.8% and Bharti Airtel climbed 3.7%.

Major European indices trade higher across the board with France's CAC (+1.9%) and Germany's DAX (+1.9%) battling for the lead. The ECB Survey of Professional Forecasters cut its 2015 harmonized inflation forecast to 0.3% from 1.0% and lowered its outlook for 2016 to 1.1% from 1.4%.

Participants received several data points:
Eurozone Manufacturing PMI rose to 51.0 from 50.6, as expected, while Services PMI increased to 52.3 from 51.6 (expected 52.0)
Germany's Manufacturing PMI slipped to 51.0 from 51.2 (expected 51.7) while Services PMI rose to 52.7 from 52.1 (expected 52.5)
UK's Retail Sales ticked up 0.4% month-over-month (expected -0.6%; previous 1.6%) while the year-over-year reading increased 4.3% (consensus 3.0%; prior 6.4%). Core Retail Sales rose 0.2% month-over-month (expected -0.7%; last 1.7%) while the year-over-year reading improved 4.2% (forecast 3.3%; last 6.8%)
French Manufacturing PMI jumped to 49.5 from 47.5 (expected 48.1) while Services PMI fell to 49.5 from 50.6 (expected 50.7). Separately, Business Survey held at 99.

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UK's FTSE is higher by 0.2% with materials and consumer names in the lead. CRH, Mondi, InterContinental Hotels, and Tesco hold gains between 0.5% and 2.6%. Tullow Oil is the weakest performer, down 5.2%.
In France, the CAC trades up 1.9% with all but two components in the green. Industrials and consumer names lead with Airbus, Accor, Danone, and Safran sporting gains between 2.4% and 4.5%. Gemalto and ArcelorMittal lag with respective losses of 2.2% and 2.0%.
Germany's DAX has added 1.9% amid relative strength in exporters. BMW, Daimler, and Volkswagen hold respective gains of 4.5%, 3.1%, and 2.8%. Deutsche Lufthansa lags, trading lower by 1.0%.
Spain's IBEX is higher by 1.3% with support from heavyweights like Telefonica, Iberdola, and Santander. The three names are up between 1.9% and 3.4%.

8:28 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +8.20. U.S. equity futures continue holding modest gains while their European counterparts sit firmly in the green.

If the current indication holds, the S&P 500 will be on track to register its fifth consecutive advance. Yesterday, the benchmark index reclaimed its 50-day moving average (2046/2047), bringing its week-to-date gain to 2.2%. That puts the index ahead of the Dow, which has added 1.7%, but behind the Nasdaq, which is higher by 2.5% since last Friday.

Elsewhere, Treasuries continue holding gains with the 10-yr yield down four basis points at 1.83% after ending last week at 1.82%.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +5.50. U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover three points above fair value.

On the commodity front, crude oil is lower by 0.2% at $46.19/bbl while copper futures have surrendered 2.2%, sliding to $2.522/lb. The moves have taken place amid dollar strength that has sent the Dollar Index (95.15, +1.08) past the 95.00 level.

Today's data will be limited to Existing Home Sales for December (Briefing.com consensus 5.10 million) and December Leading Indicators (consensus 0.5%). Both reports will be released at 10:00 ET.

Treasuries hold gains with the 10-yr yield lower by four basis points at 1.82%.

In U.S. corporate news of note:

E*Trade (ETFC 24.12, +1.47): +6.5% after reporting a one-cent beat and announcing regulatory approval to operate E*Trade bank at 9.0% Tier 1 leverage ratio.
Honeywell (HON 100.49, +1.10): +1.1% in reaction to its one-cent beat.
Starbucks (SBUX 86.88, +4.14): +5.0% after reporting in-line with estimates and issuing cautious guidance.
Skyworks (SWKS 79.00, -0.33): -0.4% despite beating estimates and guiding higher.

Reviewing overnight developments:

Asian markets ended higher. China's Shanghai Composite +0.3%, Japan's Nikkei +1.1%, and Hong Kong's Hang Seng +1.3%
In economic data:
Japan's Manufacturing PMI ticked up to 52.1 from 52.0
China's HSBC Manufacturing PMI rose to 49.8 from 49.6 (expected 49.6)
South Korea's GDP rose 0.4% quarter-over-quarter, as expected, while the year-over-year reading increased 2.7% (consensus 2.8%; prior 3.2%)
Singapore's CPI slipped 0.2% year-over-year (expected -0.1%; prior -0.3%)
In news:
HSBC commented on China's Manufacturing PMI report, saying the labor market remains weak and that further monetary easing is recommended.

Major European indices trade higher across the board. UK's FTSE +0.3%, France's CAC +2.2%, and Germany's DAX +2.2%. Elsewhere, Italy's MIB +0.7% and Spain's IBEX +1.5%
Participants received several data points:
Eurozone Manufacturing PMI rose to 51.0 from 50.6, as expected, while Services PMI increased to 52.3 from 51.6 (expected 52.0)
Germany's Manufacturing PMI slipped to 51.0 from 51.2 (expected 51.7) while Services PMI rose to 52.7 from 52.1 (expected 52.5)
UK's Retail Sales ticked up 0.4% month-over-month (expected -0.6%; previous 1.6%) while the year-over-year reading increased 4.3% (consensus 3.0%; prior 6.4%). Core Retail Sales rose 0.2% month-over-month (expected -0.7%; last 1.7%) while the year-over-year reading improved 4.2% (forecast 3.3%; last 6.8%)
French Manufacturing PMI jumped to 49.5 from 47.5 (expected 48.1) while Services PMI fell to 49.5 from 50.6 (expected 50.7). Separately, Business Survey held at 99.
Among news of note:
ECB Survey of Professional Forecasters cut its 2015 harmonized inflation forecast to 0.3% from 1.0% and lowered its outlook for 2016 to 1.1% from 1.4%.

7:33 am: [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +2.50.

7:33 am: [BRIEFING.COM] Nikkei...17,511.75...+182.70...+1.10%. Hang Seng...24,850.45...+327.80...+1.30%.

7:33 am: [BRIEFING.COM] FTSE...6,807.61...+10.80...+0.20%. DAX...10,631.65...+196.80...+1.90%.

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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