TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 6:14 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: February 9th Monday Trade Results - Profit $3520.00
PostPosted: Mon Feb 09, 2015 11:45 pm 
Offline
Site Admin

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

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
020915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3520.00.png
020915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3520.00.png [ 179.63 KiB | Viewed 321 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $270.00 dollars or +2.70 points, Emini ES ($ES_F) futures @ $3,250.00 dollars or +65.00 points, Light Crude Oil CL ($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 @ $3,520.00 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=2001

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

-----------------------------

Market Context Summaries

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

Attachment:
020915-Key-Price-Action-Markets.png
020915-Key-Price-Action-Markets.png [ 1.03 MiB | Viewed 347 times ]

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


4:10 pm: [BRIEFING.COM] The stock market kicked off the new week on a sleepy note with the S&P 500 (-0.4%) spending the day in a 15-point range. The benchmark index settled ahead of the Dow (-0.5%), but that was a small victory considering the S&P 500 finished near its session low. Above all, today's trading volume was well below average with just 760 million shares changing hands at the NYSE floor.

Equity indices faced some pressure at the start, brought on by lingering concerns about the eurozone. Yesterday, Greek Prime Minster Alexis Tsipras spoke in front of parliament, reiterating his intention to push back against eurozone's austerity measures. The continued defiance towards requests of the troika has led to increased chatter about a forced Greek exit from the single currency bloc. Meanwhile, Germany's Economic Affairs Minister Sigmar Gabriel called the tone of Mr. Tsipras' speech 'regrettable.' Greece's Athens General Index tumbled 4.8% in response while the Greek 10-yr note sold off to send its yield higher by 64 basis points to 10.75%.

The concerns contributed to a lower start, but the S&P 500 did not go down without a fight. The index tried to reclaim its flat line, and was able to do so briefly on the third attempt; however, the third time was hardly the charm as a slide to a fresh session low followed. Nine sectors registered losses with countercyclical health care (-1.1%) and utilities (-0.9%) ending at the bottom of the leaderboard. The utilities sector widened its February loss to 4.6% while health care lagged even as biotechnology names displayed intraday strength. The iShares Nasdaq Biotechnology ETF (IBB 313.35, -2.24) spent the bulk of the day in the green, but slumped during afternoon action to end lower by 0.7%.

Elsewhere, another countercyclical group-consumer staples (-0.7%)-also finished behind the broader market while the six cyclical groups settled in-line with or ahead of the S&P 500.

Most notably, the energy sector surrendered the bulk of its intraday gain during the final hour, but still ended ahead of others with crude oil underpinning the relative strength. The energy component gained 2.6% and finished the pit session at $52.99/bbl. On a related note, the Baltic Dry Index fell to a new all-time low, sliding below its worst level from August 1986.

Similar to energy, the technology sector (-0.2%) settled near its flat line. The largest sector by weight enjoyed support from a handful of influential components like Apple (AAPL 119.70, +0.77), Oracle (ORCL 43.40, +0.42), and Qualcomm (QCOM 67.11, +0.76) while chipmakers struggled, evidenced by a 1.1% decline in the PHLX Semiconductor Index.

Treasuries ended the day with slim gains after a daylong slide from overnight highs. The 10-yr yield slipped one basis point to 1.95%.

Tomorrow, the Wholesale Inventories report for December (Briefing.com consensus 0.2%) and December Job Openings and Labor Turnover Survey will be reported at 10:00 ET.
Related Stories

InPlay from Briefing.com Briefing.com
U.S. stocks have best week in two years Fortune
Look Beyond January's Stock Market Slump and Buy These Sectors TheStreet.com
Bond Market Update from Briefing.com Briefing.com
Stock Market News for February 04, 2015 - Market News Zacks

Nasdaq Composite -0.2% YTD
Dow Jones Industrial Average -0.5% YTD
S&P 500 -0.6% YTD
Russell 2000 -0.7% YTD

3:35 pm: [BRIEFING.COM]

Baltic Dry Index falls 5 points to its all time low of 554, initially hit in August 1986
However, this collapse is different vs the 2008 collapse
The 2008 collapse was largely demand driven. This current collapse if both supply and demand driven, but more supply driven (oversupply of vessels)
Related stocks include
DRYS, GNK, PRGN, DSX, FREE, EGLE, NM, NMM, SBLK, KEX, SB, SINO, BALT, SHIP, DCIX.
WTI crude oil futures rallied today and rose as high as $53.99/barrel
By the end of today's session, Mar crude has rallied $1.32 to $52.99/barrel
Natural gas futures were modestly higher all day after selling off from overnight low of $2.69/MMBtu
Apr gold and Mar silver ended the day with modest gains.

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.4% with one hour remaining in the session. The benchmark index made three attempts at turning positive over the course of the day, but daylong underperformance among sectors like health care (-1.1%) and consumer staples (-0.8%) has prevented the index from making a move into the green. Furthermore, other influential sectors like financials (-0.4%) and industrials (-0.4%) have also exerted some pressure on the market.

On the upside, the energy sector (+0.5%) continues hanging on, bolstered by crude oil, which settled higher by 2.6% at $52.99/bbl and remains near that level in electronic trading.

2:30 pm: [BRIEFING.COM] Equity indices have backtracked from their recent levels with the S&P 500 (-0.4%) sliding to a fresh low for the day.

Energy (+0.4%) and telecom services (+0.1%) continue holding modest gains while the health care sector has widened its decline to 1.0% as the daylong underperformance continues. Meanwhile, another countercyclical group-utilities (-1.1%) has slipped behind health care.

Furthermore, the consumer staples sector (-0.7%) is the only other laggard while the remaining seven sectors trade in-line with or ahead of the broader market.

2:00 pm: [BRIEFING.COM] The S&P 500 hovers near its session low.

It is a slow week for economic data until Thursday when the January retail sales report is released.

The employment report showed a 0.7% increase in aggregate earnings in January. That should be enough to cause a big acceleration in consumption growth, even if consumers opt to save a significant portion of their wage gain.

The Briefing.com Consensus, however, disagrees. The consensus expects retails sales - with and without autos - declined 0.4% in January.

Their reasoning is based on notion that the expected decline in spending at gasoline stations in January was not spent elsewhere. Essentially, the consensus believes that consumers pocketed all of extra savings that came from lower gasoline prices.

If the consumers decided to keep their savings rate at December levels, then retail sales should outperform consensus expectations by a considerable amount.

1:35 pm: [BRIEFING.COM] The major U.S. indices remain relatively unchanged from our last update in a noticeably quiet session, both in terms of volume and news flow.

Despite light volume in the broad market, airline companies are experiencing heavy volume on downside moves following disappointing traffic results and continued recovery in the price of crude oil. American Airlines (AAL 46.28, -1.87) is leading the sector lower after the company reported that its January revenue passenger miles were down 2.8% y/y and lowered its pre-tax margin guidance based on higher fuel prices. Other names in the industry following American lower include Delta Airlines (DAL 44.34, -1.17), Southwest Airlines (LUV 43.24, -0.90), United Continental (UAL 65.06, -2.52), and others. A number of these airliners have seen their stock prices soar over the last few months as the price of crude oil dropped over 50%.

12:55 pm: [BRIEFING.COM] The major averages trade near their flat lines at midday with the Nasdaq holding a razor-thin gain while the Dow Jones Industrial Average (-0.2%) and S&P 500 (-0.1%) underperform.

Equity indices faced some pressure at the start, brought on by lingering concerns about the eurozone. Yesterday, Greek Prime Minster Alexis Tsipras spoke in front of parliament, reiterating his intention to push back against eurozone's austerity measures. The continued defiance towards requests of the troika has led to increased chatter about a forced Greek exit from the single currency bloc. Meanwhile, Germany's Economic Affairs Minister Sigmar Gabriel called the tone of Mr. Tsipras' speech 'regrettable.' Greece's Athens General Index tumbled 4.8% while the Greek 10-yr note sold off to send its yield higher by 64 basis points to 10.75%.

The persistent concerns contributed to the early weakness, but the market has been able to fight off its low. That being said, the S&P 500 has yet to make a sustained move into the green.

Individual sectors are split with four up and six down. The energy sector (+0.6%) has held the lead since the opening bell with help from crude oil. The energy component trades higher by 2.5% at $52.96/bbl after OPEC boosted its demand forecast for 2015. On the earnings front, Diamond Offshore (DO 34.78, +1.18) beat bottom-line estimates, but decided against issuing a special dividend. The stock was down near $2/share at the start, but currently trades higher by 3.5%.

Outside of energy, the technology sector (+0.2%) is the only other influential outperformer. The sector has been held up by top-weighted names like Apple (AAPL 119.51, +0.58), Microsoft (MSFT 42.64, +0.23), and Qualcomm (QCOM 67.51, +1.16) while chipmakers lag with the PHLX Semiconductor Index down 0.6%.

The underperformance among chipmakers has not really registered with the Nasdaq Composite as the tech-heavy index receives support from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 316.94, +1.35) trades higher by 0.4% while the health care sector (-0.6%) sits at the bottom of the leaderboard due to losses in large cap components.

Treasuries notched their highs shortly after 5:00 ET and have been sliding since then. The 10-yr yield remains lower by two basis points at 1.94% while the 2-yr note is now lower for the day with its yield higher by two basis points at 0.66%.

12:30 pm: [BRIEFING.COM] The S&P 500 (-0.1%) has spent the past hour or so within a couple points of its current level. The benchmark index made two runs at its flat line since the opening bell, but the first attempt was met with a slide to a new low while the most recent rebound attempt was also rejected near the flat line.

That being said, the early action has been very quiet with just over 300 million shares having changed hands at the NYSE floor. Market breadth is currently flat, which helps explain the range-bound action over the past hour.

Elsewhere, Treasuries have continued their retreat from overnight highs with the 10-yr yield now down two basis points at 1.94%.

12:00 pm: [BRIEFING.COM] Not much change in the market with the past hour unfolding similarly to the opening 60 minutes. Specifically, the S&P 500 made a run at its flat line, but that level has posed resistance to the index.

Although the S&P 500 remains in negative territory, only the health care sector (-0.7%) shows a loss larger than 0.4%. On the flip side, the top-weighted technology sector has erased its early loss and now trades higher by 0.2%. Influential sectors components like Apple (AAPL 119.51, +0.58), Microsoft (MSFT 42.66, +0.25), and Qualcomm (QCOM 67.77, +1.42) are largely responsible for the modest gain while high-beta chipmakers lag with the PHLX Semiconductor Index down 0.6%.

Normally, relative weakness among chipmakers would cause the Nasdaq Composite to underperform the broader market, but biotech names have offset that weakness with the iShares Nasdaq Biotechnology ETF (IBB 316.01, +0.42) higher by 0.1%.

11:25 am: [BRIEFING.COM] Recent action saw the S&P 500 make another recovery effort with the benchmark index trimming its loss to 0.1% while the Dow Jones Industrial Average (-0.3%) continues showing relative weakness.

The energy sector, which has shown relative strength since the open, has extended its gain to 0.8% while crude oil is now up 3.0% at $53.23/bbl. Furthermore, the top-weighted technology sector (+0.1%) has been able to turn positive.

Meanwhile, the Dow underperforms with 22 of its 30 components in the red and five of the 22 down 1.0% or more. Among the laggards, McDonald's (MCD 93.00, -0.99) has given up 1.1% after reporting a 1.8% decline in global comparable store sales in January.

10:55 am: [BRIEFING.COM] The S&P 500 (-0.3%) has dropped to a new session low after being rejected by its flat line during a first-hour rebound off its opening low.

Only two sectors-energy (+0.7%) and materials (+0.3%)-remain in positive territory while heavily-weighted groups like consumer discretionary (-0.5%), financials (-0.5%), and health care (-0.8%) have pressured the market.

Interestingly, the health care sector trades behind the other nine groups even though biotechnology has held up relatively well. The iShares Nasdaq Biotechnology ETF (IBB 315.12, -0.47) is lower by 0.2%.

10:40 am: [BRIEFING.COM]

WTI crude oil has been rallying again today and just hit a new high for the day in recent trade at $53.65/barrel
Mar crude is now +3.6% at $53.55/barrel
Natural gas, on the other hand, has been sliding lower today off its $2.69/MMBtu HoD and is now 0.9% at $2.60/MMBtu
Gold and silver have been rising today, helped by weakness in the dollar index, which is now -0.2% at 94.54
Apr gold is currently +0.5% at $1241.30/oz, while Mar silver is +2.2% at $17.07/oz
Mar copper is +0.1% at $2.59/lb

10:00 am: [BRIEFING.COM] Equity indices have not wasted any time reclaiming their early losses. The S&P 500 has clawed back to its flat line while the Dow (-0.2%) remains a bit behind. Meanwhile, relative strength among small caps has the Russell 2000 trading higher by 0.1%.

The energy sector (+0.6%) remains ahead of other groups, but the recent rebound has been fueled by sectors that began the day on the defensive. The financial sector (-0.4%) remains near its early low while health care (-0.3%), consumer discretionary (unch), industrials (unch), and technology (unch) have climbed off their lows.

Also of note, Treasuries have continued their retreat from overnight highs with the 10-yr yield ticking up to 1.93% (-3 bps).

9:45 am: [BRIEFING.COM] The major averages began the day amid broad weakness before trimming their losses. The S&P 500 remains lower by 0.2% while the Dow Jones Industrial Average (-0.4%) underperforms.

Seven of ten sectors sport opening losses with heavily-weighted financials (-0.4%) and health care (-0.5%) at the bottom of the leaderboard. On the flip side, the energy sector has been able to add 0.7% with help from crude oil, which is higher by 2.5% at $52.95/bbl.

Elsewhere, Treasuries have been inching away from their highs notched around 5:00 ET, but the 10-yr yield remains lower by four basis points at 1.92%.

9:13 am: [BRIEFING.COM] S&P futures vs fair value: -8.80. Nasdaq futures vs fair value: -18.00. The stock market is on track for a lower start with futures on the S&P 500 trading nine points below fair value. Index futures have spent the entire night in negative territory amid persistent concerns surrounding Greece. Yesterday, Greek Prime Minster Alexis Tsipras spoke in front of parliament, reiterating his intention to push back against eurozone's austerity measures. The continued defiance towards requests of the troika led to increased chatter about a forced Greek exit from the single currency bloc. Meanwhile, Germany's Economic Affairs Minister Sigmar Gabriel called the tone of Mr. Tsipras' speech 'regrettable.' In Greece, the Athens General Index has tumbled 5.1% while the Greek 10-yr note has sold off, sending its yield higher by 43 basis points to 10.54%.

In other Europe-related news, German Chancellor Angela Merkel is scheduled to meet with President Obama in Washington to discuss sending weapons to Ukraine.

The lingering concerns have been a supportive factor for Treasuries with the 10-yr yield down five basis points at 1.91%. Similarly, Germany's 10-yr has been in demand with its yield down three basis points at 0.31%.

On the commodity front, crude oil has added 1.9% to $52.64/bbl after OPEC boosted its demand forecast for 2015.

Corporate news has been limited this morning, but McDonald's (MCD 93.19, -0.80) trades down 0.9% after reporting a 1.8% decline in global comparable store sales in January.

8:59 am: [BRIEFING.COM] S&P futures vs fair value: -9.20. Nasdaq futures vs fair value: -18.50. The S&P 500 futures trade nine points below fair value.

Asian markets ended the Monday session on a mostly lower note. In Australia, Prime Minister Tony Abbott withstood a leadership challenge by a 61-39 vote.

In economic data:
China's trade surplus expanded to $60.03 billion from $49.60 billion (expected surplus of $48.90 biilion) as exports fell 3.3% year-over-year (consensus 6.3%; prior 9.7%) while imports dropped 19.9% (consensus -3.0%; previous -2.4%)
Japan's Current Account surplus widened to JPY980 billion from JPY910 billion (expected surplus of JPY950 billion). Separately, Household Confidence rose to 39.1 from 38.8 (expected 39.4) while Economy Watchers Current Index improved to 45.6 from 45.2 (consensus 45.7)
India's Q3 GDP rose 7.5% year-over-year (expected 5.5%; previous 5.3%)

------

Japan's Nikkei gained 0.4%, but settled near its low. Industrials outperformed with Kubota and NTN Corp climbing 5.2% and 6.2%, respectively. Sony ended among the laggards, down 2.4%.
Hong Kong's Hang Seng lost 0.6% amid pressure from gaming and consumer names. Galaxy Entertainment and Li & Fung lost 2.9% and 1.7%, respectively.
China's Shanghai Composite rose 0.6% with brokerage names in the lead. SooChow Securities and Industrial Securities both gained near 9.5%.
India's Sensex lost 1.7% amid expectations Aam Admi Party will win Delhi elections. Tata Motors, State Bankk of India, and Tata Steel fell between 3.0% and 5.8%.

Major European indices trade lower across the board with Italy's MIB (-2.4%) and Spain's IBEX (-2.5%) at the bottom of the barrel. Greek Prime Minister Alexis Tsipras spoke in front of parliament yesterday, reiterating his intention to push back against eurozone's austerity measures. The continued defiance towards requests of the troika led to increased chatter about a forced Greek exit from the single currency bloc. Meanwhile, Germany's Economic Affairs Minister Sigmar Gabriel called the tone of Mr. Tsipras' speech 'regrettable.' In Greece, the Athens General Index has tumbled 5.9% while the Greek 10-yr note has sold off, sending the yield higher by 43 basis points to 10.54%.

Economic data was limited:
Eurozone Sentix Investor Confidence improved to 12.4 from 0.9 (expected 3.0)
Germany's trade surplus widened to EUR21.80 billion from EUR17.90 billion (expected surplus of EUR18.30 billion) as imports declined 0.8% month-over-month (expected -0.4%; last 1.2%) while exports rose 3.4% (consensus 1.0%; prior -2.2%)

------

UK's FTSE is lower by 0.9% with utilities among the weakest performers. United Utilities Group and National Grid are both down near 2.7%. Miners outperform with Antofagasta, Fresnillo, and Randgold Resources up between 1.0% and 2.9%.
In France, the CAC trades down 1.5% amid weakness in financials. BNP Paribas, Credit Agricole, and Societe Generale hold losses between 2.3% and 3.3%.
Germany's DAX has given up 1.9% after JPMorgan Chase downgraded the index to 'Neutral' from 'Overweight.' Deutsche Lufthansa, Merck, and Bayer lag with losses between 2.4% and 2.8%. Producers of basic materials outperform with Lanxess, Linde, and HeidelbergCement up between 1.2% and 3.2%.
Spain's IBEX is lower by 2.5% with financials on the defensive. BBVA, Banco Sabadell, Bankinter, and Banco Popular are down between 2.9% and 3.6%.

8:29 am: [BRIEFING.COM] S&P futures vs fair value: -8.40. Nasdaq futures vs fair value: -15.30. U.S. equity futures remain near their lowest levels of the morning with Greece in focus after Prime Minister Alexis Tsipras addressed the parliament yesterday and hardened his stance against austerity demands from the eurozone. This morning, however, Mr. Tsipras said he remains optimistic an agreement can be struck between Greece and its creditors.

That being said, European indices have tumbled across the board with the Athens General Index down 5.9%. Meanwhile, the Greek 10-yr note has sold off, sending the yield higher by 43 basis points to 10.54%.

Conversely, U.S. Treasuries continue benefitting from a safe-haven bid with the 10-yr yield down five basis points at 1.91%.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: -6.40. Nasdaq futures vs fair value: -13.00. U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures hover six points below fair value. The defensive posture follows a weekend filled with Greece-related headlines. Yesterday, Greek Prime Minister Alexis Tsipras spoke in front of parliament, reiterating his intention to push back against eurozone's austerity measures. The continued defiance towards requests of the troika led to increased chatter about a forced Greek exit from the single currency bloc. Meanwhile, Germany's Economic Affairs Minister Sigmar Gabriel called the tone of Mr. Tsipras' speech 'regrettable.'

Weakness in equity futures has been accompanied by strength in Treasuries with the 10-yr yield down five basis points at 1.91%.

On the commodity front, crude oil is higher by 1.3% at $52.38/bbl after OPEC boosted the 2015 world demand forecast.

In U.S. corporate news of note:

Diamond Offshore (DO 33.35, -0.25): -0.7% after beating bottom-line estimates and deciding against declaring a special dividend.
Hasbro (HAS 56.30, +0.56): +1.0% after missing estimates and raising its dividend by $0.03 to $0.46. In addition, the company announced a $500 million increase to its stock buyback.
Qualcomm (QCOM 67.65, +1.30): +2.0% after Reuters reported the company is close to agreeing to a $1 billion antitrust fine in China.

Reviewing overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng -0.6%, Japan's Nikkei +0.4%, and China's Shanghai Composite +0.6%
In economic data:
China's trade surplus expanded to $60.03 billion from $49.60 billion (expected surplus of $48.90 biilion) as exports fell 3.3% year-over-year (consensus 6.3%; prior 9.7%) while imports dropped 19.9% (consensus -3.0%; previous -2.4%)
Japan's Current Account surplus widened to JPY980 billion from JPY910 billion (expected surplus of JPY950 billion). Separately, Household Confidence rose to 39.1 from 38.8 (expected 39.4) while Economy Watchers Current Index improved to 45.6 from 45.2 (consensus 45.7)
India's Q3 GDP rose 7.5% year-over-year (expected 5.5%; previous 5.3%)
In news:
Australia's Prime Minister Tony Abbott withstood a leadership challenge by a 61-39 vote

Major European indices trade lower across the board. UK's FTSE -0.7%, France's CAC -1.0%, and Germany's DAX -1.5%. Elsewhere, Italy's MIB -2.1% and Spain's IBEX -2.1%
Economic data was limited:
Eurozone Sentix Investor Confidence improved to 12.4 from 0.9 (expected 3.0)
Germany's trade surplus widened to EUR21.80 billion from EUR17.90 billion (expected surplus of EUR18.30 billion) as imports declined 0.8% month-over-month (expected -0.4%; last 1.2%) while exports rose 3.4% (consensus 1.0%; prior -2.2%)
Among news of note:
JPMorgan Chase downgraded Germany's DAX index to 'Neutral' from 'Overweight'

7:10 am: [BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -21.50.

7:09 am: [BRIEFING.COM] Nikkei...17,711.93...+63.40...+0.40%. Hang Seng...24,521.00...-158.40...-0.60%.

7:09 am: [BRIEFING.COM] FTSE...6808.88...-44.60...-0.60%. DAX...10665.35...-180.00...-1.60%.

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

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

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


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

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


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

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