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 Post subject: February 2nd Monday Trade Results - Profit $4250.00
PostPosted: Tue Feb 03, 2015 12:07 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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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 @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $4,250.00 dollars or +85.00 points, Light Crude Oil CL ($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 @ $4,250.00 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=140&t=1996

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=257&t=2664

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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 began the new trading week on a higher note. The S&P 500 spiked 1.3% while the Nasdaq (+0.9%) and Russell 2000 (+0.9%) underperformed.

Overall, the Monday session was fairly quiet with the market spending some time on each side of its unchanged level. The S&P 500 began with a slim gain, but relative weakness among high-beta biotechnology and chipmaker names kept heavily-weighted health care (+0.6%) and technology (+1.0%) sectors on the defensive. The S&P 500 tried to overcome that weakness, but was rebuffed by its 100-day moving average in the 2,010 area. However, a second effort in the late afternoon sent the S&P 500 well above the 100-day average to end the day.

All ten sectors finished in the green with energy (+3.0%) spending the entire session in the lead. The sector benefitted from a 2.8% advance in crude oil ($49.59/bbl) while also drawing strength from ExxonMobil (XOM 89.58, +2.16). Shares of XOM jumped 2.5% in reaction to better than expected earnings thanks to a $1 billion non-cash windfall resulting from deferred tax items and a favorable ruling for expropriated Venezuela assets.

Elsewhere among cyclical sectors, financials (+1.6%) and industrials (+1.5%) displayed relative strength throughout the day after posting respective losses of 7.0% and 3.7% in January. Meanwhile, the top-weighted technology sector (+1.0%) spent the day behind the broader market, but narrowed the gap during afternoon action.

For the most part, large cap tech names fared well, but Google (GOOGL 532.20, -5.35) and Facebook (FB 74.99, -0.92) lost 1.0% and 1.2%, respectively. Similarly, chipmakers struggled as a group, which limited the PHLX Semiconductor Index to an uptick of 0.3%.

The underperformance of semiconductor names kept the Nasdaq behind the broader market, but so did biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 319.58, -2.07) lost 0.6% while the health care sector advanced 0.6%.

Similar to health care, the utilities sector (+0.4%) underperformed while consumer staples (+1.3%) and telecom services (+2.5%) fared well.

Treasuries registered modest losses with the 10-yr yield climbing three basis points to 1.68%.

Economic data included Personal Income/Spending data, ISM Index, and Construction Spending:

Personal income increased 0.3% for a second consecutive month in December following a negative revision (from 0.4%) in November while the Briefing.com consensus expected personal income an increase of 0.3%
Personal spending declined 0.3% after increasing a downwardly revised 0.5% (from 0.6%) in November while the consensus expected a decrease of 0.3%
The ISM Manufacturing Index dropped to 53.5 in January from 55.1 in December while the Briefing.com consensus expected a decline to 54.7
Production growth decelerated as the related index fell to 56.5 in January from 57.7 in December. The drop coincided with a decline in new orders (52.9 from 57.8) and a large contraction (46.0 from 52.5) in unfilled orders
Construction spending increased 0.4% in December after declining an upwardly revised 0.2% (from -0.3%) in November while the Briefing.com consensus expected an increase of 0.8%

Tomorrow, the Factory Orders report for December will be released at 10:00 ET (Briefing.com consensus -2.0%).

Nasdaq Composite -1.3% YTD
S&P 500 -1.9% YTD
Russell 2000 -2.4% YTD
Dow Jones Industrial Average -2.6% YTD

3:40 pm: [BRIEFING.COM]

WTI crude oil extended Friday's rally and is now up $5 or 11.1% in the last two trading sessions, getting a boost today from some refinery employees being on strike in the U.S.
Natural gas was in the red today and finished the session $0.01 lower at $2.68/MMBtu
Precious metals were largely flat today, with Feb gold falling $1.50 to $1277.40/oz and Mar silver gaining $0.04 to $17.25/oz
Mar copper ended unchanged at $2.49/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.2% with one hour remaining in the Monday session.

Earlier today, the benchmark index appeared to be on track to put a dent in its January loss, but the index could not climb above its 100-day moving average (2,010). The benchmark index kissed that level just ahead of 11:45 ET, but headed back to its flat line and has remained near the unchanged level throughout the afternoon.

Going into the final hour, market breadth remains tilted to the upside with about 1.3 issues trading higher for each decliner.

2:30 pm: [BRIEFING.COM] Equity indices continue to surround the unchanged level with the Dow (+0.1%) and S&P 500 (+0.2%) holding modest gains while the Nasdaq (-0.1%) and Russell 2000 (-0.2%) hover in the red.

Similarly, individual sectors are split with six groups showing gains between 0.2% (consumer staples) and 1.4% (energy) while the four decliners hold losses of no more than 0.3%. The health care sector sits at the bottom of the leaderboard amid continued weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 316.34, -5.31) is lower by 1.5% after marking its all-time high last week.

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

Disappointment was the headline from today's economic releases.

While December personal income growth met expectations (+0.3%), personal spending declined by a larger than expected 0.3% (Briefing.com Consensus -0.2%).

Construction spending increased 0.4% in December after declining an upwardly revised 0.2% (from -0.3%) in November. That gain was about half of what the consensus (0.8%) expected.

The ISM Manufacturing Index dropped to 53.5 in January from 55.1 in December. The Briefing.com Consensus expected a much more modest decline to 54.7.

1:35 pm: [BRIEFING.COM] The major U.S. indices are relatively unchanged from our last update.

Two-day gains in the price of crude futures, as seen in trading of WTI crude (+1.8% to $49.12/bbl), have led the energy sector (+1.2%) higher, outperforming all other S&P sectors. A number of Oil & Gas exploration & production companies, including Chesapeake Energy (CHK 20.19, +1.01) and Apache (APA 64.62, +2.05), are among the top gainers. Separately, solar companies are also enjoying strong gains today following the jump in oil prices and news that President Obama may move for an extension of the investment tax credit for solars. Some large gainers there include Solar City (SCTY 52.89, +4.28), SunEdison (SUNE 19.89, +1.16), and First Solar (FSLR 44.74, +2.42).

12:55 pm: [BRIEFING.COM] The major averages hover near their flat lines at midday with the S&P 500 (+0.1%) defending a modest gain while the Dow and Nasdaq hover in the red.

Equities held slim gains at the start, but relative weakness among high-beta groups like biotechnology and chipmakers contributed to an early slip. However, the market was able to recover off its early low with help from a few cyclical sectors like energy (+1.4%), financials (+0.2%), and industrials (+0.2%). The ensuing rebound lifted the S&P 500 to its 100-day moving average (2,010), but that level has served as resistance so far today.

Notably, today's trio of leaders represents sectors that struggled in January. The energy space has received an assist from crude oil, which trades higher by 1.5% at $48.99/bbl. On the earnings front, ExxonMobil (XOM 88.30, +0.88) has added 1.0% after beating earnings estimates thanks to $1 billion in a non-cash windfall resulting from deferred tax items and a favorable ruling for expropriated Venezuela assets.

Meanwhile, the industrial sector has been underpinned by transport stocks. The Dow Jones Transportation Average is higher by 0.5%, but the spike has not included airlines with the group responding negatively to increased energy prices.

For its part, the top-weighted technology sector (-0.2%) has been unable to keep up with the market as Google (GOOGL 527.86, -9.69) weighs. The influential sector member has tumbled 1.8% on no news while chipmakers also lag. Texas Instruments (TXN 52.87, -0.58) has surrendered 1.1% while the broader PHLX Semiconductor Index trades down 0.7%.

The underperformance of chipmakers has contributed to the struggles of the Nasdaq. In addition, biotechnology has factored into the weakness, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 318.46, -3.19), which is lower by 1.0% while health care (-0.4%) represents one of three declining sectors.

Treasuries hover in the middle of their trading ranges with the 10-yr yield up two basis points at 1.67%.

Economic data included Personal Income/Spending data, ISM Index, and Construction Spending:

Personal income increased 0.3% for a second consecutive month in December following a negative revision (from 0.4%) in November while the Briefing.com consensus expected personal income an increase of 0.3%
Personal spending declined 0.3% after increasing a downwardly revised 0.5% (from 0.6%) in November while the consensus expected a decrease of 0.3%
The ISM Manufacturing Index dropped to 53.5 in January from 55.1 in December while the Briefing.com consensus expected a decline to 54.7
Production growth decelerated as the related index fell to 56.5 in January from 57.7 in December. The drop coincided with a decline in new orders (52.9 from 57.8) and a large contraction (46.0 from 52.5) in unfilled orders
Construction spending increased 0.4% in December after declining an upwardly revised 0.2% (from -0.3%) in November while the Briefing.com consensus expected an increase of 0.8%

12:25 pm: [BRIEFING.COM] The S&P 500 (+0.3%) lurks about nine points below its 100-day moving average (2,010) after hitting that level during the past hour. The benchmark index is visiting its 100-day average for the first time in February after frequent visits in January.

The index made its first appearance of the year at its 100-day average on January 6 when it halted a five-day slide from its all-time high. The level provided short-term support, but the S&P 500 was back near its 100-day average in the middle of the month, and then slid below that mark once again to end January.

Elsewhere, high-beta names continue showing relative weakness, evidenced by the Nasdaq and Russell 2000 as both indices trade flat.

12:00 pm: [BRIEFING.COM] The major averages have powered to new highs with the S&P 500 (+0.6%) in the lead.

All ten sectors are now in the green with some of January's weakest performers ahead of the pack. To that point, energy (+1.9%), financials (+0.7%), and industrials (+0.8%) outperform after posting respective losses of 4.9%, 7.0%, and 3.7% in January.

Meanwhile, January's leaders-utilities and health care-trade a bit behind the broader market. The health care sector (+0.1%) hovers just above its flat line after climbing 1.2% in January while the utilities space (+0.6%) trades just behind the broader market following its 2.3% January jump.

Treasuries have returned near their lows with the 10-yr yield up four basis points at 1.69%.

11:25 am: [BRIEFING.COM] Recent action saw the S&P 500 (+0.3%) fight back to its opening high in a move that helped most sectors erase their losses. Meanwhile, the Nasdaq Composite (-0.1%) trails the benchmark index due to relative weakness in the biotechnology group.

At this juncture, the iShares Nasdaq Biotechnology ETF (IBB 319.17, -2.48) is lower by 0.8%, which has kept the health care sector (-0.3%) at the bottom of the leaderboard. Similarly, high-beta chipmakers continue showing relative weakness with the PHLX Semiconductor Index down 0.6% while the technology sector has narrowed its loss to 0.1%.

On a separate note, crude oil has traded in a $3.00/bbl range since last night and currently hovers near the middle of that range. The energy component is higher by 0.3% at $48.38/bbl.

10:55 am: [BRIEFING.COM] The major averages hover in the middle of their trading ranges with the S&P 500 lower by 0.1%. Only three sectors remain in positive territory with energy (+0.7%) holding the lead while the financial sector (+0.2%) is the only other cyclical group trading in positive territory.

That leaves four growth-sensitive sectors in the red with technology (-0.6%) and consumer discretionary (-0.7%) struggling.

Shares of Google (GOOGL 523.19, -14.36) have pressured the technology sector while other large cap names have fared a bit better. Apple (AAPL 117.40, +0.24) and Microsoft (MSFT 40.61, +0.21) hold gains while Cisco Systems (CSCO 26.25, -0.11) and IBM (IBM 152.41, -0.90) lag. Similarly, chipmakers underperform with the PHLX Semiconductor Index lower by 0.8%.

The slip from opening highs has lured some money out of the Treasury market, but the 10-yr yield remains higher by four basis points at 1.68%.

10:35 am: [BRIEFING.COM]

Oil is certainly volatile this morning
On Friday, Mar WTI crude oil futures closed at $48.17/barrel This morning, Mar crude began the overnight session lower at around $46.88/barrel
Around 6am EST crude began to gain some steam. And then at 7am EST, crude began to gain steam again, this time rallying $2.67/barrel to the current high today of $50.56/barrel in 12 minutes
Crude has since erased all of its gains and is back near the unchanged line, now at -0.3% at $48.10/barrel
Natural gas has been in the red all day so far and is now -2.4% at $2.63/MMBtu
Gold has been in the red all morning, while silver is more choppy near the unchanged line
Feb gold is now -0.4% at $1273.70/oz, while Mar silver is +0.1% at $17.22/oz
Mar copper is +0.2% at $2.50/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades lower by 0.4%.

The ISM Index for January declined to 53.5 from 55.1 while the Briefing.com consensus expected the reading to slip to 54.7.

Separately, Construction Spending increased 0.4% month-over-month in December, while the Briefing.com consensus expected an increase of 0.8%.

9:40 am: [BRIEFING.COM] The major averages began the day with modest gains. The S&P 500 trades higher by 0.3% with seven sectors trading in the green.

The energy sector (+1.4%) has paced the opening advance while crude oil has added 1.3% and currently hovers near $48.88/bbl. Meanwhile, the other commodity-linked sector-materials (+0.4%)-is the second best performer on the cyclical side.

Elsewhere, health care (+0.4%) and telecom services (+0.6%) also sport gains while the other two countercyclical groups lag. The consumer staples sector is flat while the utilities space has given up 0.4%.

Treasuries remain near their lowest levels of the day with the 10-yr yield up five basis points at 1.69%.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +7.20. Nasdaq futures vs fair value: +12.50. The stock market is on track for a modestly higher start with futures on the S&P 500 trading seven points above fair value. Futures climbed off their lows at the beginning of the European session, but they have pulled back from their best levels of the morning as markets in Europe struggled to get going. Currently, Germany's DAX (+0.5%) is the only European index trading in the green. On a somewhat related note, German Chancellor Angela Merkel said over the weekend that a write-down of Greek debt is not on the table.

On the commodity front, crude oil was down in excess of $1.00/bbl overnight, but currently trades higher by 1.1% at $48.80/bbl while the Dollar Index is little changed. Also of note, ExxonMobil (XOM 87.50, +0.08) is on track to open with a slight gain after beating earnings and revenue estimates.

Treasuries hover near their lows with the 10-yr yield up four basis points at 1.69%.

The ISM Index (consensus 54.7) for January and December Construction Spending will be released at 10:00 ET (consensus 0.8%).

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +4.20. The S&P 500 futures trade three points above fair value.

Asian markets ended Monday on a mixed note with China, Hong Kong, and Japan registering losses. Financials in China lagged after the president of Minsheng Bank resigned amid a corruption probe.

In economic data:
China's HSBC Manufacturing PMI ticked down to 49.7 from 49.8 (expected 49.8)
Japan's Manufacturing PMI ticked up to 52.2 from 52.1 (consensus 52.1)
Hong Kong's Retail Sales fell 3.9% year-over-year (expected 4.4%; prior 4.1%)
South Korea's HSBC Manufacturing PMI rose to 51.1 from 49.9
Australia's AIG Manufacturing Index rose to 49.0 from 46.9
Indonesia's Inflation eased to 6.96% year-over-year from 8.36% while Core Inflation ticked up to 4.99% from 4.93%
India's HSBC Markit Manufacturing PMI fell to 52.9 from 54.5 (expected 53.5)

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Japan's Nikkei fell 0.7% amid broad weakness. Kansai Electric Power, Konica Minolta, and Tokyo Electric Power lost between 4.0% and 9.4%. Fujitsu outperformed, spiking 9.6%
Hong Kong's Hang Seng shed 0.1% amid weakness in financials. Ping An Insurance lost 2.3% and HSBC Holdings fell 1.7%.
China's Shanghai Composite dropped 2.6% and settled on session lows. Minsheng Bank lost 3.25 and China Vanke fell 1.8%.
India's Sensex shed 0.2%. Dr Reddy's Laboratories lost 2.9% while Axis Bank outperformed, spiking 5.0%.

Major European indices trade mostly lower with Germany's DAX (+0.4%) hanging onto a slim gain. Over the weekend, German Chancellor Angela Merkel ruled out the possibility of imposing another haircut on holders of Greek debt.

Participants received several data points:
Eurozone Manufacturing PMI held at 51.0, as expected o Germany's Manufacturing PMI ticked down to 50.9 from 51.0 (expected 51.0)
UK's Manufacturing PMI rose to 53.0 from 52.7 (consensus 52.6)
French Manufacturing PMI dropped to 49.2 from 49.5 (expected 49.5)
Italy's Manufacturing PMI rose to 49.9 from 48.4 (expected 48.8)
Spain's Manufacturing PMI improved to 54.7 from 53.8 (consensus 54.0)

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Germany's DAX is higher by 0.4%. Basic materials names outperform with BASF, HeidelbergCement, and Lanxess up between 1.1% and 1.9%.
UK's FTSE trades flat. Airlines lag with easyJet and International Consolidated Airlines down 4.7% and 2.4%, respectively, while energy names outperform. BG Group, Royal Dutch Shell, and Tullow Oil are up between 2.5% and 6.0%.
In France, the CAC trades lower by 0.2% with financials on the defensive. BNP Paribas, Credit Agricole, and Societe Generale are down beteween 1.5% and 2.0%.
Spain's IBEX has tumbled 1.8%. Bankia is lower by 4.5% after postponing the release of its quarterly results while peers Banco Sabadell, Bankinter, and Banco Popular hold losses between 2.5% and 3.9%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +4.50. The S&P 500 futures trade three points above fair value.

December personal income increased 0.3%, while the Briefing.com consensus expected an uptick of 0.3%. Meanwhile, personal spending decreased 0.3%, while the consensus expected a decrease of 0.2%.

Core PCE prices were unchanged, which is what the Briefing.com consensus expected.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +5.50. U.S. equity futures trade modestly higher amid mixed action overseas. The S&P 500 futures hover four points above fair value after climbing off their lows at the start of the European session.

The S&P 500 lost 3.1% in January, ending ahead of the Dow (-3.7%) and Russell 2000 (-3.3%), but behind the Nasdaq Composite, which surrendered 2.1%. This morning, however, futures hold gains while Treasuries hover in the red with the 10-yr yield higher by three basis points at 1.67%.

Also of note, crude oil traded in the $47.00/bbl area overnight, but is currently higher by 1.3% at $48.91/bbl.

December Personal Income (Briefing.com consensus 0.3%), Personal Spending (consensus -0.2%), and Core PCE Prices (consensus 0.0%) will be reported at 8:30 ET while the ISM Index (consensus 54.7) for January and December Construction Spending will be released at 10:00 ET (consensus 0.8%).

In U.S. corporate news of note:

Deckers Outdoor (DECK 67.52, +1.47): +2.2% after Goldman Sachs upgraded the stock to 'Buy.'
Sysco (SYY 39.50, +0.33): +0.8% after reporting in-line earnings on better than expected revenue.

Reviewing overnight developments:

Asian markets ended lower. Hong Kong's Hang Seng -0.1%, Japan's Nikkei -0.7%, and China's Shanghai Composite -2.6%
In economic data:
China's HSBC Manufacturing PMI ticked down to 49.7 from 49.8 (expected 49.8)
Japan's Manufacturing PMI ticked up to 52.2 from 52.1 (consensus 52.1)
Hong Kong's Retail Sales fell 3.9% year-over-year (expected 4.4%; prior 4.1%)
South Korea's HSBC Manufacturing PMI rose to 51.1 from 49.9
Australia's AIG Manufacturing Index rose to 49.0 from 46.9
Indonesia's Inflation eased to 6.96% year-over-year from 8.36% while Core Inflation ticked up to 4.99% from 4.93%
India's HSBC Markit Manufacturing PMI fell to 52.9 from 54.5 (expected 53.5)
In news:
Financials in China lagged after the president of Minsheng Bank resigned amid a corruption probe. The bank stock fell 3.2%.

Major European indices trade mixed. Germany's DAX +0.2%, UK's FTSE is flat, and France's CAC -0.2%. Elsewhere, Italy's MIB -0.6% and Spain's IBEX -2.0%
Participants received several data points:
Eurozone Manufacturing PMI held at 51.0, as expected
Germany's Manufacturing PMI ticked down to 50.9 from 51.0 (expected 51.0)
UK's Manufacturing PMI rose to 53.0 from 52.7 (consensus 52.6)
French Manufacturing PMI dropped to 49.2 from 49.5 (expected 49.5)
Italy's Manufacturing PMI rose to 49.9 from 48.4 (expected 48.8)
Spain's Manufacturing PMI improved to 54.7 from 53.8 (consensus 54.0)
Among news of note:
Over the weekend, German Chancellor Angela Merkel ruled out the possibility of imposing another haircut on holders of Greek debt.

7:12 am: [BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +10.50.

7:11 am: [BRIEFING.COM] Nikkei...17,558.04...-116.40...-0.70%. Hang Seng...24,484.74...-22.30...-0.10%.

7:11 am: [BRIEFING.COM] FTSE...6,766.31...+15.10...+0.20%. DAX...10,742.73...+48.40...+0.50%.

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)
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