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 Post subject: February 4th Wednesday Trade Results - Profit $825.00
PostPosted: Thu Feb 05, 2015 1:43 am 
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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 @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $825.00 dollars or +16.50 points, Light Crude Oil CL ($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 @ $825.00 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=1998

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


4:15 pm: [BRIEFING.COM] The stock market ended the Wednesday session on a lower note. The S&P 500 lost 0.4% after tumbling from its high to a new low during the final 30 minutes of action.

Equity indices endured some choppy waters after the S&P 500 spiked nearly 3.0% during the first two sessions of the week. The market appeared to be out of the woods by the start of the final hour, but the benchmark index plunged through its 50-day moving average after it was reported that the European Central Bank has lifted its waiver that allowed for the acceptance of Greek debt as collateral.

The announcement came with a caveat that the counterparty status of Greek banks remains unchanged and they may satisfy their liquidity needs through Emergency Liquidity Assistance. However, the news showed that the negotiations are likely to be tumultuous, which contrasted with the rosy picture painted over the last two days.

Despite the closing slide, a handful of influential sectors like consumer discretionary (+0.7%), technology (+0.1%), and consumer staples (+0.1%) were able to finish in the green.

The consumer discretionary space received solid support from carmakers and media names. General Motors (GM 35.83, +1.85) surged 5.4% after beating estimates and announcing plans to boost its dividend by 20.0% to $0.36. Meanwhile, Dow component Disney (DIS 101.28, +7.18) spiked 7.6% in reaction to above-consensus earnings and revenue.

Elsewhere among Dow members, the top-weighted listing-Visa (V 264.89, +5.10)-soared 2.0% and helped underpin the price-weighted index, which ended flat. Furthermore, the stock contributed to the relative strength of the technology sector. Other large sector components were mixed with Apple (AAPL 119.56, +0.91) and Microsoft (MSFT 41.83, +0.23) posting gains while Google (GOOGL 526.10, -7.20), IBM (IBM 156.96, -1.51), and Oracle (ORCL 42.42, -0.62) registered losses.

In turn, the tech sector provided a boost to the Nasdaq Composite (-0.2%), helping the index finish ahead of the broader market. The Nasdaq overcame another decline in the biotechnology group as the iShares Nasdaq Biotechnology ETF (IBB 312.55, -5.24) lost 1.7% and widened its week-to-date decline to 2.8%. Conversely, the health care sector (-1.4%) settled near the bottom of the leaderboard.

Health care was not the only influential group that struggled today. The energy sector (-1.6%) finished at the bottom of the leaderboard due to a daylong slide in crude oil. The energy component plunged 9.3% and surrendered the bulk of its February gain. As for the energy sector, the cyclical group trimmed its week-to-date gain to 4.2%.

Treasuries spiked during afternoon action, sending the 10-yr yield lower by three basis points to 1.76%.

Today's participation was well above average with more than a billion shares changing hands at the NYSE floor.

Economic data included ADP Employment, ISM Services, and the MBA Mortgage Index:
Related Stories

InPlay from Briefing.com Briefing.com
US STOCKS-Wall St falls as manufacturing data disappoints Reuters
US STOCKS-Wall St down after 2-day run after ADP as energy drags Reuters
Wall Street falls as manufacturing data disappoints Reuters
Wall St. rallies late on Greek deal hopes; energy gains Reuters

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 213K in January while the Briefing.com consensus expected an increase of 230K
The December reading was revised up to 253,000 from 241,000
The ISM Non-Manufacturing Index increased to 56.7 in January from a previously revised 56.5 (from 56.2) in December while the Briefing.com consensus expected the index to remain at 56.5
Overall, the non-manufacturing sector remained strong in January, but future gains may be difficult as backlogs contracted for the second consecutive month, falling to 49.0 from 49.5
Business activities in the non-manufacturing sector strengthened in January as the related index increased to 61.5 from 58.6 in December
The weekly MBA Mortgage Index rose 1.3% to follow last week's 3.2% decline

Tomorrow, the Challenger Job Cuts report for January will be released at 7:30 ET while Initial Claims (Briefing.com consensus 290K), December Trade Deficit (consensus $38.00 billion), and Q4 Productivity and Unit Labor Costs data will all be released at 8:30 ET.

Nasdaq Composite -0.4% YTD
S&P 500 -0.8% YTD
Dow Jones Industrial Average -0.8% YTD
Russell 2000 -1.0% YTD

3:40 pm: [BRIEFING.COM]

WTI crude oil slid lower all day and ultimately dropped 9% today (or $4.60/barrel) to $48.44/barrel
Mar natural gas lost $0.10 to $2.66/MMBtu. Heating oil and RBOB gasoline futures fell sharply as well. Heating oil dropped 5% to $1.76/gallon and RBOB fell 8% to $1.48/gallon
Metals posted some gains toda
Apr gold rose $5 to $1264.60/oz while Mar silver rose $0.09 to $17.41/oz
Mar copper rose $0.01 to $2.59/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.2% with one hour remaining in today's session. The benchmark index started the day under pressure, but was able to make a brief appearance in the green thanks to the relative strength of heavily-weighted sectors like consumer discretionary (+0.9%), technology (+0.5%), and consumer staples (+0.3%).

Although the three groups have showed relative strength throughout the day, the market has had a tough time overcoming the weakness among industrials (-0.5%), energy (-1.5%), and health care (-1.0%).

At its current level, the benchmark index sits about three points above its 50-day moving average (2,044), which has served as intraday support.

2:30 pm: [BRIEFING.COM] The S&P 500 (-0.2%) remains near its recent level while the energy sector (-2.0%) has extended its decline. In turn, the energy space has been pressured by crude oil, which has been in a freefall and currently trades lower by 8.3% at $48.66/bbl with the pit close approaching.

Today's loss has wiped out yesterday's advance and it leaves the energy component about $5.00/bbl above its January low.

Also of note, the recent move has coincided with some buying in the Treasury market. The 10-yr note has reclaimed its intraday loss and is currently flat with its yield at 1.80%.

2:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.3%.

The employment data released today were disappointing, which could set up for a downside surprise when the official payroll data are released on Friday.

According to the ADP, private payrolls added only 213,000 new jobs in January. That was down from an expected 253,000 in December and well below the Briefing.com Consensus forecast of 230,000 new jobs.

Meanwhile, the ISM Non-Manufacturing Index reported a sharp deceleration in employment growth in January. The Employment Index fell to 51.6 from 55.7 in December.

1:30 pm: [BRIEFING.COM] The major U.S. indices have gained slightly since our last update but remain mixed at this time.

In recent trade, utilities (-1.0%) have seen a notable decline without any clear rationale. It would be remiss not to add that the utilities sector was the best-performing sector in January, so it could be a case of profit taking following a big run after a big year in 2014. As WTI crude continues its heavy retracement from yesterday's gains, now -7% to $49.35/bbl, energy (-1.3%) is the day's worst performing sector.

Elsewhere, shares in various internet providers are outperforming the broad market following comments from FCC Chairman Wheeler that he will submit a proposal to 'ban paid prioritization, and the blocking and throttling of lawful content and services.' Gainers on those headlines include Comcast (CMCSA 57.13, +1.73), Time Warner (TWC 146.90, +4.09), Charter (CHTR 164.52, +6.55), and others.

12:55 pm: [BRIEFING.COM] The major averages are mixed at midday with the S&P 500 (-0.3%) holding a slim loss while the Dow Jones Industrial Average (+0.1%) trades just above its flat line.

The first half of today's session has been relatively quiet with the market taking a breather after enjoying a two-day advance. Similarly, crude oil has pulled back after spiking nearly $10/bbl off its January low.

Crude oil has spent the day in a steady retreat with another leg down taking place after today's inventory report revealed that stockpiles have increased by 6.3 million barrels from the previous week. The energy component is currently lower by 6.9% at $49.41/bbl after notching a session low in recent action.

Fittingly, the energy sector (-1.4%) is today's weakest performer with the loss narrowing its week-to-date advance to 4.4%.

In addition to energy, the market has faced some selling pressure from the countercyclical side where the health care sector trades down 1.3% due to continued weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 312.45, -5.34) is lower by 1.7% today and down 2.9% for the week. The industry group has been pressured by Gilead Sciences (GILD 99.21, -7.97) as the stock trades lower by 7.5% after below-consensus sales of its Hepatitis C drug overshadowed better than expected earnings and revenue.

Even though the biotech group lags, the Nasdaq Composite has been able to stay ahead of the S&P 500 thanks to the relative strength of the technology sector (+0.1%). Elsewhere among cyclical sectors, the consumer discretionary space (+0.7%) has received support from homebuilders, carmakers and media names. The iShares Dow Jones US Home Construction ETF (ITB 26.43, +0.51) is higher by 2.0% while Disney (DIS 101.59, +7.49) and General Motors (GM 35.67, +1.69) hold respective gains of 8.0% and 5.0% after reporting better than expected results.

Treasuries hold modest losses with the 10-yr yield up two basis points at 1.81%.

Economic data included ADP Employment, ISM Services, and the MBA Mortgage Index:

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 213K in January while the Briefing.com consensus expected an increase of 230K
The December reading was revised up to 253,000 from 241,000
The ISM Non-Manufacturing Index increased to 56.7 in January from a previously revised 56.5 (from 56.2) in December while the Briefing.com consensus expected the index to remain at 56.5
Overall, the non-manufacturing sector remained strong in January, but future gains may be difficult as backlogs contracted for the second consecutive month, falling to 49.0 from 49.5
Business activities in the non-manufacturing sector strengthened in January as the related index increased to 61.5 from 58.6 in December
The weekly MBA Mortgage Index rose 1.3% to follow last week's 3.2% decline

12:30 pm: [BRIEFING.COM] Not much change in the major averages with the S&P 500 drifting along its flat line. Similarly, the Nasdaq Composite trades little changed while the Dow (+0.3%) continues holding its slim gain.

Although the market has not moved much over the past hour, today's weakest sectors have inched up off their lows. To that point, the energy sector has narrowed its decline to 1.1% while the health care sector remains lower by 1.0%. Also of note, crude oil has dropped to a new low for the day and currently trades down 6.1% at $49.81/bbl.

12:00 pm: [BRIEFING.COM] The S&P 500 has crawled back above its flat line while the Dow has extended its advance to 0.3%.

The ten economic sectors remain mixed with five up and five down. Notably, the consumer discretionary space (+0.9%) has received support from homebuilders and carmakers. The iShares Dow Jones US Home Construction ETF (ITB 26.26, +0.33) is higher by 1.3% while General Motors (GM 35.56, +1.58) has spiked 4.7% in reaction to better than expected results and news that the company plans to boost its dividend by 20.0% to $0.36.

11:25 am: [BRIEFING.COM] The S&P 500 (-0.1%) has continued inching away from its session low despite continued weakness in energy (-1.4%) and health care (-1.2%). However, the underperformance of the two sectors has been partially offset by solid gains among groups like consumer discretionary (+1.0%) and technology (+0.5%). Furthermore, the telecom services sector (+1.1%) also outperforms, but the group has a negligible impact on the broader market due to its low weight.

Meanwhile, the top-weighted technology sector is among the leaders even though several large cap names like Google (GOOGL 531.37, -1.93) Oracle (ORCL 42.69, -0.35), and Microsoft (MSFT 41.54, -0.05) hover in the red. That being said, other influential names like Apple (AAPL 120.111, +1.46), Facebook (FB 76.05, +0.65), and Visa (V 265.09, +5.30) hold solid gains. As for chipmakers, the high-beta group trades mixed with the PHLX Semiconductor Index up 0.1%.

10:55 am: [BRIEFING.COM] Recent action saw the S&P 500 narrow its loss to 0.2% while the Dow Jones Industrial Average (+0.2%) sports a modest gain.

Energy (-1.2%) and health care (-1.4%) remain under pressure while other sectors have been able to trim their losses. On the upside, today's leader-consumer staples-has extended its advance to 0.6%. However, outside of the staples sector, the remaining advancers hold gains of no more than 0.4% (consumer discretionary).

Also of note, crude oil is now down 5.3% at $50.24/bbl after dropping to a fresh session low following a larger than expected build revealed by the latest inventory report.

10:35 am: [BRIEFING.COM]

Following a 19% run over the past three sessions, oil is down notably today
Losses just extended even further following the EIA weekly storage data, which was bearish
Mar crude oil fell to a new LoD following the data and is now -5.6% at $50.08/barrel
Mar nat gas is -2.47% at $2.68/MMBtu
Gold and silver just sold off as the dollar index continues to hit new highs for the day (index is now +0.4% at 94.00)
Apr gold just erased all of its gains and is now +0.01% at $1261.60/oz, while Mar silver is +0.5% at $17.41
Mar copper is flat at $2.58/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades lower by 0.2%.

Just reported, the ISM Services Index for January rose to 56.7 from 56.5 while the Briefing.com consensus expected the index to hold at 56.5.

9:45 am: [BRIEFING.COM] The major averages began the session under pressure with the S&P 500 lower by 0.4%. Meanwhile, the Nasdaq Composite (-0.6%) underperforms due to continued weakness in biotechnology.

The iShares Nasdaq Biotechnology ETF (IBB 306.69, -11.10) has slipped below its 50-day moving average (310.19) and currently trades lower by 3.5%. Including today's decline, the ETF is now down 4.8% for the week versus a 2.4% increase for the S&P 500.

Biotechnology has pressured the health care sector (-1.6%) while energy (-1.5%) represents the other group with a loss larger than 1.0%.

On the upside, consumer staples (+0.2%) and technology (+0.2%) outperform. Among staple stocks, J.M. Smucker (SJM 114.00, +8.12) has spiked 7.4% after announcing the acquisition of Big Heart Pet Brands for about $5.80 billion.

Over on the consumer discretionary (+0.2%) side, Office Depot (ODP 9.55, +0.27) is higher by 2.9% after agreeing to be acquired by Staples (SPLS 17.56, -1.45) for $11.00 per share.

The ISM Services Index for January (consensus 56.5) will be released at 10:00 ET.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: -11.70. Nasdaq futures vs fair value: -25.00. The stock market is on track for a lower open following two days of gains that helped the S&P 500 narrow its 2015 decline to just 0.4% from 3.1%. That modest decline will widen a bit at the start considering the S&P 500 futures trade 12 points below fair value.

Similarly, crude oil has pulled back after spiking nearly $10/bbl in just three sessions. The energy component is currently lower by 4.3% at $50.72/bbl while the Dollar Index (93.89, +0.29) trades higher by 0.3%.

Not much has changed on the macroeconomic front with Greek Finance Minister Yanis Varoufakis saying he had a 'fruitful exchange' with European Central Bank President Mario Draghi. Meanwhile, European Council President Donald Tusk said the talks will be 'difficult.' Like U.S. futures, European indices hold modest losses after a sharp spike to start the week.

On the economic front, the ADP National Employment Report for January missed expectations (213K; Briefing.com consensus 230K), but the December reading was revised up to 253,000 from 241,000.

Treasuries hold modest losses with the 10-yr yield up a basis point at 1.80%.

The ISM Services Index for January (consensus 56.5) will be released at 10:00 ET.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -8.50. Nasdaq futures vs fair value: -19.80. The S&P 500 futures trade nine points below fair value.

Asian markets ended mostly higher while China's Shanghai Composite (-1.0%) lagged. Following the session, the People's Bank of China cut its Reserve Requirement Ratio to 19.5% from 20.5% with the move likely aimed at increasing liquidity ahead of the Lunar New Year.

Elsewhere, Reserve Bank of New Zealand Governor Graeme Wheeler said the central bank will maintain its current policy stance unless domestic demand weakens enough to justify a rate cut.

In economic data:
China's HSBC Services PMI fell to 51.8 from 53.4 (expected 52.8)
Japan's Average Cash Earnings rose 1.6% year-over-year, as expected (prior 0.1%) while Overtime Pay increased 0.5% (prior -0.9%)
Hong Kong's Manufacturing PMI fell to 49.4 from 50.3
India's HSBC Services PMI rose to 52.4 from 51.1
Australia's AIG Services Index rose to 49.9 from 47.5 while NAB Quarterly Business Confidence fell to 2 from 6
New Zealand's Employment Change came in at 1.2% quarter-over-quarter (expected 0.8%; prior 0.9%) while the Unemployment Rate jumped to 5.7% from 5.4% (consensus 5.3%)

------

Japan's Nikkei jumped 2.0% amid broad strength. Sumitomo Heavy Industries, Mitsubishi Chemical, and Ebara gained between 5.8% and 6.6%. On the downside, Sharp fell 4.5%.
Hong Kong's Hang Seng added 0.5%, but settled near its low. Energy names rallied for the second consecutive day with CNOOC and PetroChina spiking 4.3% and 1.9%, respectively.
China's Shanghai Composite slumped into the close to end lower by 1.0%. Financials lagged with Avic Capital and Luxin Venture Capital both down near 4.4%.
India's Sensex shed 0.4% with bank shares pacing the retreat. Axis Bank lost 4.8% and State Bank of India dropped 2.4%.

Major European indices trade lower following two days of gains. European investors have maintained their optimism regarding a solution to the Greek crisis after Finance Minister Yanis Varoufakis said he had a 'fruitful exchange' with European Central Bank President Mario Draghi. Meanwhile, European Council President Donald Tusk said the talks will be 'difficult.'

Participants received several data points:
Eurozone Services PMI rose to 52.7 from 52.3 (expected 52.3) while Retail Sales increased 0.3% month-over-month (expected 0.2%; prior 0.7%)
Germany's Services PMI climbed to 54.0 from 52.3 (expected 52.3)
UK's Services PMI jumped to 57.2 from 55.8 (consensus 56.3)
French Services PMI ticked down to 49.4 from 49.5 (forecast 49.5)
Italy's Services PMI rose to 51.2 from 49.4 (expected 50.0)
Spain's Services PMI improved to 56.7 from 54.3 (expected 54.9)

------

In France, the CAC is lower by 0.2% with energy names on the defensive. Technip has given up 1.9% and Total trades lower by 1.6%. Consumer names are holding up well with Pernod Ricard and LVMH up 1.0% and 5.8% with the latter benefiting from quarterly results that were better than feared.
Germany's DAX has given up 0.3% with about 2/3 of the index in the red. Utilities E.On and RWE are both down near 2.0%. Meanwhile, Volkswagen is higher by 0.7%.
UK's FTSE is lower by 0.7% amid pressure from energy-related names. Royal Dutch Shell and Tullow Oil hold respective losses of 1.5% and 4.9%. Drug makers outperform with AstraZeneca, Shire, and GlaxoSmithKline up between 0.6% and 2.7%.

8:27 am: [BRIEFING.COM] S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -15.30. The S&P 500 futures trade six points below fair value.

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 213K in January. That was below the increase of 230K expected by the Briefing.com consensus. The December reading was revised up to 253,000 from 241,000.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -16.50. U.S. equity futures trade modestly lower amid cautious action overseas. The S&P 500 futures hover eight points below fair value.

On the commodity front, crude oil is lower by 2.6% at $51.66/bbl after soaring nearly $10/bbl off its January low in a matter of three days. Meanwhile, the Dollar Index (93.69, +0.09) holds a slim gain of 0.1%.

The weekly MBA Mortgage Index rose 1.3% to follow last week's 3.2% decline.

The ADP Employment Change for January will cross the wires at 8:15 ET (Briefing.com consensus 230K) while the ISM Services Index for January (consensus 56.5) will be released at 10:00 ET.

Treasuries are little changed with the 10-yr yield hovering at 1.79%.

In U.S. corporate news of note:

Chipotle Mexican Grill (CMG 685.16, -41.47): -5.7% despite beating bottom-line estimates.
Disney (DIS 97.88, +3.78): +4.0% after beating earnings and revenue estimates.
General Motors (GM 35.27, +1.29): +3.8% in reaction to above-consensus results and news that the company plans to boost its dividend by 20.0% to $0.36.
Gilead Sciences (GILD 100.87, -6.31): -5.9% after below-consensus sales of its Hepatitis C drug overshadowed better than expected results.
Merck (MRK 60.20, -0.82): -1.3% after its cautious guidance overshadowed a one-cent beat.
Take-Two Interactive (TTWO 31.25, +1.41): +4.7% following its better than expected results.

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +2.0%, Hong Kong's Hang Seng +0.5%, and China's Shanghai Composite -1.0%
In economic data:
China's HSBC Services PMI fell to 51.8 from 53.4 (expected 52.8)
Japan's Average Cash Earnings rose 1.6% year-over-year, as expected (prior 0.1%) while Overtime Pay increased 0.5% (prior -0.9%)
Hong Kong's Manufacturing PMI fell to 49.4 from 50.3
India's HSBC Services PMI rose to 52.4 from 51.1
Australia's AIG Services Index rose to 49.9 from 47.5 while NAB Quarterly Business Confidence fell to 2 from 6
New Zealand's Employment Change came in at 1.2% quarter-over-quarter (expected 0.8%; prior 0.9%) while the Unemployment Rate jumped to 5.7% from 5.4% (consensus 5.3%)
In news:
The People's Bank of China cut its reserve requirement ratio to 19.5% from 20.5%
Reserve Bank of New Zealand Governor Graeme Wheeler said the central bank will maintain its current policy stance unless domestic demand weakens enough to justify a rate cut

Major European indices trade lower across the board. UK's FTSE -0.6%, Germany's DAX -0.3%, and France's CAC -0.2%. Elsewhere, Italy's MIB -0.4% and Spain's IBEX -0.6%
Participants received several data points:
Eurozone Services PMI rose to 52.7 from 52.3 (expected 52.3) while Retail Sales increased 0.3% month-over-month (expected 0.2%; prior 0.7%)
Germany's Services PMI climbed to 54.0 from 52.3 (expected 52.3)
UK's Services PMI jumped to 57.2 from 55.8 (consensus 56.3)
French Services PMI ticked down to 49.4 from 49.5 (forecast 49.5)
Italy's Services PMI rose to 51.2 from 49.4 (expected 50.0)
Spain's Services PMI improved to 56.7 from 54.3 (expected 54.9)
Among news of note:
European investors have maintained their optimism regarding a solution to the Greek crisis after Finance Minister Yanis Varoufakis said he had a 'fruitful exchange' with European Central Bank President Mario Draghi. Meanwhile, European Council President Donald Tusk said the talks will be 'difficult.'

7:09 am: [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -12.00.

7:09 am: [BRIEFING.COM] Nikkei...17,678.74...+342.90...+2.00%. Hang Seng...24,679.76...+125.00...+0.50%.

7:09 am: [BRIEFING.COM] FTSE...6,833.78...-38.50...-0.60%. DAX...10,862.92...-28.00...-0.30%.

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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