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 Post subject: January 28th Wednesday Trade Results - Profit $10987.50
PostPosted: Wed Jan 28, 2015 8:48 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $800.00 dollars or +8.00 points, Emini ES ($ES_F) futures @ $10,187.50 dollars or +203.75 points, Light Crude Oil CL ($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 @ $10,987.50 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=139&t=1991

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

4:15 pm: [BRIEFING.COM] The stock market finished the midweek session on a lower note despite showing considerable strength in the early going. The S&P 500 (-1.4%) lost its 100-day moving average (2,010) and settled behind the Nasdaq Composite (-0.9%) while the Russell 2000 (-1.7%) lagged throughout the day.

Equities appeared to be on solid footing at the start with the Nasdaq up 1.0% after Apple (AAPL 115.31, +6.17) reported better than expected results for the quarter and issued strong guidance. The stock surged 5.7% and helped the technology sector (-0.1%) finish near its flat line while most of the remaining sectors struggled.

The benchmark index traded little changed ahead of the afternoon release of the latest policy statement from the Fed, but slumped into the close. Once again, the policy directive reiterated the Fed's intent to remain patient in determining the appropriate timing for the first rate hike, which helped send Treasuries to new highs. The 10-yr yield fell ten basis points to 1.73% while the 30-yr yield dropped 11 basis points to register its lowest close on record (2.28%).

The Fed described U.S. economic growth as 'solid' while categorizing job growth as 'strong.' The central bank did not spend much time discussing overseas developments, which could help explain some of the selling that developed after the statement was released. Furthermore, the FOMC showed little concern over low inflation, saying that while the price level is expected to decline in the near term, a gradual return to 2.0% should follow once the 'transitory effects of lower energy prices and other factors dissipate.'

Today, however, energy prices deteriorated further with crude oil dropping 3.6% to $44.53/bbl. The energy component continued slipping in electronic trade while the energy sector plunged 3.9% to widen its January decline to 5.7%.

The energy sector resides near the bottom of the January leaderboard with only financials (-2.0%) showing a larger decline for the month (-6.3%). Together, the underperformance of the pair serves as a reminder of the global growth concerns that have been at the forefront so far in 2015.

Elsewhere among influential sectors, consumer discretionary (-1.3%) and health care (-1.5%) finished a little behind the market while industrials (-0.9%) outperformed. Retailers and media names pressured the discretionary sector while biotechnology weighed on health care. The iShares Nasdaq Biotechnology ETF (IBB 318.98, -7.00) lost 2.2%.

For its part, the industrial space ended ahead of the broader market thanks to upbeat earnings and guidance from Dow component Boeing (BA 139.64, +7.16). In other earnings news, Electronic Arts (EA 54.61, +6.20) and Freescale Semiconductor (FSL 31.16, +4.81) surged 12.8% and 18.3%, respectively, after beating estimates.

The afternoon slide fueled a rush for portfolio protection, evidenced by a 17.9% spike in the CBOE Volatility Index (VIX 20.30, +3.08). The near-term volatility measure returned to last week's levels with the entire move taking place after the FOMC statement.

Today's participation was a little above average with 835 million shares changing hands at the NYSE floor.

Economic data was limited to the weekly MBA Mortgage Index, which fell 3.2% to follow the prior week's surge of 16.1%.

Tomorrow, weekly Initial Claims will be reported at 8:30 ET (Briefing.com consensus 301K) while the Pending Home Sales report for December (consensus 0.6%) will be released at 10:00 ET.
Related Stories

InPlay from Briefing.com Briefing.com
Wall Street ends lower after Fed statement, oil drop Reuters
U.S. stocks fall after Fed statement, oil drop Reuters
Stocks slammed by crude; triple-digit decline by Dow CNBC
Bonds Surge on FOMC Statement; 30-Year Yield at Record Low Barrons.com

Nasdaq Composite -2.1% YTD
Russell 2000 -2.5% YTD
S&P 500 -2.8% YTD
Dow Jones Industrial Average -3.5% YTD

3:45 pm: [BRIEFING.COM]

Energy futures traded lower today, led by losses by oil futures
Mar crude oil ended the day -3.6% lower at $44.53/barrel
Mar nat gas lost 8 cents to $2.85/MMBtu
Precious metals finished the day mixed.
Mar gold lost $6.50/oz to $1285.60/oz, while Mar silver rose $0.01 to $18.09/oz

3:00 pm: [BRIEFING.COM] The S&P 500 remains lower by 0.2% after climbing off its worst level of the session.

After digesting today's FOMC statement, the economic focus switches to tomorrow's initial claims report.

The initial claims level declined to 307,000 for the week ending January 17 from 317,000 for the week ending January 10. The Briefing.com Consensus expects the initial claims level dropped to 301,000 for the week ending January 24.

Trends in the initial claims level have changed. For the first time since July 2014, the initial claims level exceeded 300,000 for three consecutive weeks and is expected to remain at that juncture this week.

According to the DOL, no special factors have caused the sudden increase in claims. There are, however, anecdotal reports that companies in the energy sector have increased layoffs in response to low oil prices.

We should know more about the actual cause of the increase in claims in the next few weeks.

2:30 pm: [BRIEFING.COM] The S&P 500 (-0.4%) has dropped to a new low as participants continue digesting the latest FOMC policy statement.

Meanwhile, Treasuries slipped immediately after the statement before climbing to new highs. The 10-yr yield is now down nine basis points at 1.74% with investors showing little concern for a rate hike in the near term after the Fed reiterated its intent to remain patient.

Elsewhere, the Dollar Index (94.33, +0.31) has shown some volatility following the statement, and it currently trades where it did ahead of the policy directive.

2:05 pm: [BRIEFING.COM] The Federal Open Market Committee has just released its latest policy directive, which reiterated the central bank's intention to remain patient in determining the appropriate timing for the first rate hike. The statement indicated that above all, the Fed will remain data-dependent, which has also been mentioned multiple times in the past.

Equities moved a bit higher in reaction to the statement while Treasuries slipped from their highs with the 10-yr yield narrowing its decline to 4 basis points (1.78%). Meanwhile, the Dollar Index (94.36, +0.34) is higher by 0.4% after returning to its best level of the session.

1:35 pm: [BRIEFING.COM] The major U.S. indices hold onto small gains as traders pause ahead of the FOMC rate decision at 14:00 ET. Consensus is for the Fed to maintain the fed funds rate at the zero bound. Participants will be eyeing the directive closely for a directional sense on the timing of the first rate hike.

Separately, WTI crude oil (-3.2% to $44.75/bbl) continues to underperform after inventory data showed a larger than expected build in crude stockpiles, with crude supplies reaching their highest point since 1982. The weakness in crude is dragging down the energy sector (-2.2%) with a number of oil and gas companies under heavy pressure on the day.

As Apple (AAPL) and the technology sector (+1.7%) drive the broader market higher today, additional large technology companies are expected to report their earnings results after the close, including Facebook (FB) and Qualcomm (QCOM).

12:55 pm: [BRIEFING.COM] The Dow (+0.4%), Nasdaq (+0.6%), and S&P 500 (+0.2%) hold midday gains while the Russell 2000 (-0.4%) has struggled to keep pace with the broader market.

Equity indices charged out of the gate with the Nasdaq in the lead after its top-weighted component-Apple (AAPL 117.55, +8.41)-reported better than expected earnings and issued upbeat guidance. Although shares of Apple have contributed to an opening boost, the market has not been able to extend that gain. Greece-related jitters could have played a part in the pullback amid reports Prime Minister Alexis Tsipras remains determined to restructure his country's debt. Mr. Tsipras said that a default is not in the cards, but that did not stop the Athens General Index from falling more than 9.0% with bank shares leading the plunge.

As for Apple, the stock continues trading higher by 7.7% while the technology sector (+1.8%) represents just one of two cyclical groups trading ahead of the S&P 500 at this time.

Apple notwithstanding, the top-weighted tech sector has enjoyed support from Electronic Arts (EA 54.98, +6.57), Freescale Semiconductor (FSL 31.67, +5.32), Western Digital (WDC 100.98, +3.35), and Yahoo! (YHOO 49.05, +1.06) after the four reported better than expected results.

Meanwhile, the other cyclical outperformer-industrials (+0.5%)-has drawn strength from defense contractors after Boeing (BA 140.80, +8.32) and General Dynamics (GD 139.41, +2.21) reported above-consensus earnings.

Elsewhere, the remaining influential sectors trade among the laggards with energy down 1.8% while crude oil has surrendered 2.8%, sliding to $44.96/bbl. Interestingly, the energy component spiked off its low even after today's inventory report showed the largest weekly supply buildup since 1982.

Although the major averages trade in the middle of their ranges, that dynamic could change during afternoon action when the FOMC releases its latest policy directive, which is scheduled to cross the wires at 14:00 ET. Investors will scrutinize the statement in search of signs of newfound dovishness in the face of lower growth forecasts around the world. However, if the statement reads similar to the previous directive and the Fed does not signal plans to delay its first rate hike, that could invite more downside.

Treasuries hover near their highs with the 10-yr yield down three basis points at 1.79%.

Today's economic data was limited to the weekly MBA Mortgage Index, which fell 3.2% to follow the prior week's surge of 16.1%.

12:30 pm: [BRIEFING.COM] Equity indices hover near their rebound highs with the S&P 500 up 0.3%. The stock market was active in the early going, but the opening slide has been followed by about two hours of range-bound action with the S&P 500 trading within several points of its flat line.

It wouldn't be all that surprising to see the key indices maintain narrow ranges until the 14:00 ET release of the latest FOMC policy statement. Investors are likely to scrutinize that statement in search of signs of newfound dovishness in the face of lower growth forecasts around the world. However, if the statement reads similar to the previous directive and the Fed does not signal plans to delay its first rate hike, that could invite more downside.

Treasuries hover near their highs with the 10-yr yield down three basis points at 1.79%.

12:00 pm: [BRIEFING.COM] The Dow (+0.2%), Nasdaq (+0.3%), and S&P 500 have returned above their flat lines while the Russell 2000 (-1.0%) remains near its session low.

At this juncture, five sectors trade in the green while the other five display losses. On the upside, technology (+1.3%) and telecom services (+0.9%) lead while utilities (+0.5%) and industrials (+0.2%) follow a bit behind.

The industrial sector has received support from defense contractors after General Dynamics (GD 138.74, +1.54) and Dow component Boeing (BA 140.48, +8.00) reported better than expected results. Meanwhile, transport stocks are mixed with the Dow Jones Transportation Average lower by 0.2%.

11:25 am: [BRIEFING.COM] The major averages have continued their retreat with the Nasdaq Composite (-0.1%) joining the Dow (-0.1%) and S&P 500 (-0.2%) in the red.

Equity indices were unable to build on today's opening gain, which was almost entirely due to Apple (AAPL 116.11, +6.97). The top-weighted tech company reported strong results and issued upbeat guidance, but that was not enough to alleviate some of the recent concerns about how the strong dollar will impact the earnings of multinational companies.

The market has been unable to build on its opening gain while renewed selling in crude futures has lowered investors' risk tolerance.

10:55 am: [BRIEFING.COM] Recent action saw the Nasdaq (+0.3%) surrender the bulk of its opening gain while the S&P 500 (-0.1%) has slipped into the red.

Today's leading sector-technology (+1.4%)-continues holding a solid gain, but most other influential sectors are now in the red. The weakness occurred amid selling activity in crude futures with the energy component nearing its January low. At this juncture, crude oil is lower by 2.4% at $45.14/bbl after testing the $44.75/bbl level earlier. For its part, the energy sector is down 1.9% while the materials sector (-0.7%) represents the second-weakest performer.

Elsewhere among influential sectors, consumer discretionary (-0.3%), financials (-0.4%), and health care (-0.5%) trail the broader market.

Treasuries have returned near their overnight highs with the 10-yr yield down three basis points at 1.80%.

10:45 am: [BRIEFING.COM]

Commodities began the day mostly lower, while the dollar index traded higher
Energy futures were some of the worst performers with crude oil and naural gas futures both in the red
Crude extended losses heading into the open of pit trading earlier, but following the weekly EIA inventory data, WTI crude is gaining some steam
Mar crude oil is recovering some and is now -2% at $45.30/barrel
Mar nat gas is -2.6% at $2.86/MMBtu
Precious metals are around the unchanged line with Feb gold -0.3% at $1288/oz and Mar silver +0.1% at $18.11/oz
Mar copper is +0.6% at $2.48/lb

10:00 am: [BRIEFING.COM] The Nasdaq (+1.0%) and S&P 500 (+0.6%) remain near their opening highs while the Russell 2000 has dipped into the red.

The technology sector (+2.1%) was yesterday's weakest performer and the opposite holds true today. In addition to Apple's (AAPL 117.80, +8.66) 7.9% advance, the sector has received support from the likes of Electronic Arts (EA 53.01, +4.60), Freescale Semiconductor (FSL 32.93, +6.58), Western Digital (WDC 103.19, +5.56), and Yahoo! (YHOO 49.54, +1.55). The four names hold gains between 3.5% and 24.9%.

Elsewhere, the energy sector has extended its decline to 1.8%, which has pressured the sector to the bottom of the January leaderboard. The growth-sensitive group has given up 3.9% so far this month while the financial sector represents the weakest performer, down 4.4% in January.

9:40 am: [BRIEFING.COM] As expected, the major averages surged out of the gate. The S&P 500 trades higher by 0.5% while the Nasdaq Composite has jumped 0.9%. Meanwhile, yesterday's outperformer-Russell 2000 (+0.1%)-trades behind the broader market.

Understandably, the technology sector (+1.7%) has seized the lead following upbeat earnings and guidance from Apple (AAPL 116.13, +6.99). The top-weighted sector component is higher by 6.4% in the early going.

Outside of technology, the industrial sector (+0.6%) is the only other influential outperformer. The sector has been underpinned by Boeing (BA 136.98, +4.50) after the company surpassed earnings/revenue estimates and issued mixed guidance.

On the flip side, the energy sector (-1.2%) has been pressured by crude oil, which trades lower by 2.4% at $45.14/bbl.

Treasuries have added to their gains with the 10-yr yield slipping to 1.81% (-2 bps).

9:09 am: [BRIEFING.COM] S&P futures vs fair value: +12.80. Nasdaq futures vs fair value: +61.00. The stock market is on track for a higher open with futures on the S&P 500 trading 13 points above fair value. Meanwhile, Nasdaq futures (+61 vs fair value) outperform after Apple (AAPL 117.93, +8.79) reported better than expected results.

Apple's earnings have alleviated some of the concerns that cropped up yesterday after a series of warnings from other large companies. Similar to Apple, most other companies that reported between yesterday's close and today's open have surpassed estimates. Other technology names like Electronic Arts (EA 50.75, +2.34), Freescale Semiconductor (FSL 29.40, +3.05), Western Digital (WDC 102.90, +5.27), and Yahoo! (YHOO 50.16, +2.17) are also on course for opening gains.

Although the early focus was on quarterly earnings, participants will shift their attention to monetary policy when the Federal Reserve releases its latest policy directive at 14:00 ET.

Treasuries have surrendered the bulk of their overnight gains, leaving 10-yr yield lower by a basis point at 1.81%.

8:54 am: [BRIEFING.COM] S&P futures vs fair value: +12.90. Nasdaq futures vs fair value: +61.50. The S&P 500 futures trade 13 points above fair value.

Asian markets ended Tuesday on a mixed note with China's Shanghai Composite (-1.4%) underperforming the region. Elsewhere, the Monetary Authority of Singapore held its first unscheduled meeting in 13 years to cut the 2015 headline CPI forecast. In addition MAS signaled intentions for maintaining dovish policy.

In economic data:
Australia's CPI ticked up 0.2% quarter-over-quarter (expected 0.3%; previous 0.5%) while the year-over-year reading increased 1.7% (consensus 1.8%; last 2.3%). Separately, Trimmed Mean CPI rose 0.7% quarter-over-quarter (expected 0.5%; prior 0.3%)
Indonesia's Q4 Foreign Direct Investment came in at 10.5% (prior 16.9%)

------

Japan's Nikkei (+0.2%) slipped from highs into the close. Exporters outperformed with Sharp, Isuzu, and Pioneer climbing between 3.7% and 4.4%.
Hong Kong's Hang Seng (+0.2%) also slipped from its intraday high. Property developers did well with Hang Lung Properties, Sun Hung Kai Properties, and Sino Land gaining between 1.1% and 3.4%.
China's Shanghai Composite (-1.4%) slumped to a session low after being rejected by its flat line. Industrials lagged with Dalian Rubber & Plastic and Hangzhou Sunyard System Engineering falling close to 6.0% apiece.
India's Sensex (unch) settled just below its flat line. Financials were mixed with HDFC Bank falling 1.5% while State Bank of India advanced 1.4%.

Major European indices trade mostly lower with Spain's IBEX (-1.3%) showing the largest decline. Elsewhere, reports indicate Greek Prime Minister Alexis Tsipras remains determined to negotiate a reorganization of his country's debt. That being said, Mr. Tsipras told his cabinet Greece will not default on its obligations, according to BBC.

Economic data was limited:
Germany's GfK Consumer Climate inched up to 9.3 from 9.0 (expected 9.1) while the Import Price Index fell 1.7% month-over-month (expected -1.5%; prior -0.8%)
French Consumer Confidence held at 90 (expected 91)
Swiss Consumption Indicator ticked up to 1.42 from 1.29

------

Germany's DAX is higher by 0.4% with about 2/3 of the index in the green. Daimler and Volkswagen have both added near 1.0%. Financials underperform with Deutsche Bank and Commerzbank down 1.3% and 1.7%, respectively.
UK's FTSE is lower by 0.2% with consumer names on the defensive. WM Morrison Supermarkets, InterContinental Hotels, and EasyJet are down between 1.6% and 5.7%.
In France, the CAC trades down 0.4% amid weakness in financials. BNP Paribas, Credit Agricole, and Societe Generale hold losses between 1.2% and 2.4%. Gemalto outperforms, up 2.7%.
Spain's IBEX has given up 1.3%. BBVA, Banco Popular, Bankinter, Caixabank, and Santander are down between 2.0% and 3.5%.

8:26 am: [BRIEFING.COM] S&P futures vs fair value: +15.00. Nasdaq futures vs fair value: +62.50. U.S. equity futures remain bid with Nasdaq futures holding the lead following better than expected earnings from Apple (AAPL 117.45, +8.33). However, it wasn't just Apple that reported above-consensus results. Other technology names like Freescale Semiconductor (FSL 30.00, +3.65), Western Digital (WDC 103.00, +5.37), and Yahoo! (YHOO 50.45, +2.46) are also on course for opening gains in reaction to upbeat results.

Elsewhere, Treasuries have erased their overnight gains with the 10-yr yield returning to unchanged for the day (1.82%).

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +16.50. Nasdaq futures vs fair value: +68.20. U.S. equity futures hold gains with Nasdaq futures out in front (+68 vs fair value) thanks to better than expected earnings from top index component-Apple (AAPL 119.20, +10.06). The stock is higher by 9.2% in pre-market action after beating earnings and revenue estimates, with strong results paced by strong iPhone sales.

Earnings aside, today's main event will be the 14:00 ET release of the latest policy directive from the FOMC.

On the commodity front, crude oil is lower by 1.6% at $45.53/bbl while gold futures are little changed at $1290.60/ozt. Similarly, the Dollar Index (94.08, +0.06) hovers near its flat line.

Today's economic data was limited to the weekly MBA Mortgage Index, which fell 3.2% to follow the prior week's surge of 16.1%.

Treasuries hold modest gains with the 10-yr yield down two basis points at 1.80%.

In U.S. corporate news:

AT&T (T 33.10, +0.29): +0.9% after reporting in-line results.
Amgen (AMGN 160.11, +1.22): +0.8% in reaction to better than expected results and reaffirmed guidance.
Boeing (BA 137.79, +5.31): +4.0% after beating earnings/revenue estimates and guiding ahead of consensus expectations.
Freescale Semiconductor (FSL 30.00, +3.65): +13.9% after beating earnings expectations and guiding Q1 revenue ahead of analyst estimates.
STMicroelectronics (STM 8.17, -0.17): -2.0% despite its modest beat and better than expected Q1 revenue guidance.
U.S. Steel (X 23.00, +1.73): +8.1% following better than expected earnings and revenue.
Yahoo! (YHOO 51.12, +3.13): +6.5% after reporting a one-cent beat and announcing plans to spin off its stake in Alibaba Group (BABA 102.45, -0.49).

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite -1.4%, Japan's Nikkei +0.2%, and Hong Kong's Hang Seng +0.2%
In economic data:
Australia's CPI ticked up 0.2% quarter-over-quarter (expected 0.3%; previous 0.5%) while the year-over-year reading increased 1.7% (consensus 1.8%; last 2.3%). Separately, Trimmed Mean CPI rose 0.7% quarter-over-quarter (expected 0.5%; prior 0.3%)
Indonesia's Q4 Foreign Direct Investment came in at 10.5% (prior 16.9%)
In news:
The Monetary Authority of Singapore held its first unscheduled meeting in 13 years to cut the 2015 headline CPI forecast. In addition MAS signaled intentions for maintaining dovish policy.

Major European indices trade mostly lower. France's CAC -0.5%, UK's FTSE -0.2%, and Germany's DAX +0.2%. Elsewhere, Italy's MIB -0.4% and Spain's IBEX -1.1%
Economic data was limited:
Germany's GfK Consumer Climate inched up to 9.3 from 9.0 (expected 9.1) while the Import Price Index fell 1.7% month-over-month (expected -1.5%; prior -0.8%)
French Consumer Confidence held at 90 (expected 91)
Swiss Consumption Indicator ticked up to 1.42 from 1.29
Among news of note:
Markets in Europe have been pressured by reports Greek Prime Minister Alexis Tsipras remains determined to negotiate a reorganization of his country's debt. That being said, Mr. Tsipras told his cabinet Greece will not default on its obligations, according to BBC.

6:58 am: [BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +54.00.

6:58 am: [BRIEFING.COM] Nikkei...17,795.73...+27.40...+0.20%. Hang Seng...24,861.81...+54.50...+0.20%.

6:58 am: [BRIEFING.COM] FTSE...6,806.95...-4.80...-0.10%. DAX...10,613.87...-14.70...-0.10%.

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
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