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 Post subject: February 11th Wednesday Trade Results - Profit $2627.50
PostPosted: Thu Feb 12, 2015 3:50 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)

Attachment:
021115-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2627.50.png
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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 @ $690.00 dollars or +6.90 points, Emini ES ($ES_F) futures @ $1,937.50 dollars or +38.75 points, Light Crude Oil CL ($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 @ $2,627.50 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=140&t=2003

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 midweek session on a flat note. The Dow and S&P 500 settled just below their unchanged levels while the Nasdaq Composite (+0.3%) outperformed throughout the session.

Today's final NYSE volume (732 million) came in below average, which has been the case since the start of the week. However, the limited participation was not all that surprising as some investors treaded lightly, trying to avoid potential whiplash associated with headlines out of Europe.

The EU finance ministers meeting took place earlier today, but hopes for a swift deal were dampened by Germany's Finance Minister Wolfgang Schaeuble who said he did not expect a resolution today, echoing comments made by Eurogroup Chief Jeroen Dijsselbloem. The Eurogroup is now expected to spend the weekend analyzing the divergences between the plan presented by Greek Finance Minister Yanis Varoufakis and the existing program.

Meanwhile, leaders from France, Germany, Russia, and Ukraine met in Minsk, and according to Ukraine's delegation, they agreed to reaffirm the cease-fire agreement that was struck at the first Minsk conference on September 5, 2014. Last year's agreement was violated shortly after being put into place, and it remains to be seen whether today's reaffirmation enjoys a longer life.

Four of ten sectors registered gains with consumer staples (+0.6%), health care (+0.1%), and technology (+0.4%) showing relative strength throughout the day.

The consumer staples sector settled in the lead thanks to support from PepsiCo (PEP 100.40, +2.41) and Mondelez (MDLZ 36.74, +0.93) after both names reported better than expected results. Meanwhile, the other countercyclical outperformer-health care-benefited from above-consensus results reported by Zoetis (ZTS 45.77, +1.86) and a few others. As for biotechnology, the high-beta group outperformed in the early going, but slumped in afternoon action with the iShares Nasdaq Biotechnology ETF (IBB 317.25, -1.01) shedding 0.3%.

The afternoon underperformance of biotechnology had little impact on the Nasdaq Composite, which received daylong support from Apple (AAPL 124.88, +2.86), which surged 2.3%. In addition, chipmakers displayed relative strength with the PHLX Semiconductor Index climbing 0.3% after ARM Holdings (ARMH 50.31, +1.54) reported in-line results.

On the downside, the energy sector (-0.7%) spent the day in negative territory as crude oil struggled. The energy component held an overnight gain, but slumped to end the pit session lower by 2.4% at $48.87/bbl. The closing price masked the fact that oil tested the $48.25/bbl level after today's storage report revealed a substantial inventory build of 4.868 million barrels.

Elsewhere, the utilities sector lost 2.4% to widen its February loss to 4.9%.

Treasuries vacillated near their flat lines before ending little changed with the 10-yr yield at 2.00%.

Economic data was limited to the MBA Mortgage Index and the Treasury Budget for January:

The weekly MBA Mortgage Index fell 9.0% to follow last week's 1.3% increase
The Treasury Budget for January revealed a $18.00 billion deficit while the Briefing.com consensus expected a deficit of $19.00 billion

Tomorrow, weekly Initial Claims (Briefing.com consensus 285K) and the Retail Sales report for January (consensus -0.4%) will be released at 8:30 ET while the December Business Inventories report (consensus 0.2%) will cross the wires at 10:00 ET.

Nasdaq Composite +1.4% YTD
S&P 500 +0.5% YTD
Dow Jones Industrial Average +0.2% YTD
Russell 2000 -0.3% YTD

3:45 pm: [BRIEFING.COM]

WTI crude oil extends yesterday's losses and falls $1.19 to $48.87/barrel today
Weekly EIA storage data helped weigh on prices today
Mar nat gas rose $0.12 to $2.80/MMBtu
Precious metals lost ground today and copper closed today's session unchanged at $2.54/lb
Apr gold fell $11.90 to $1220.20/oz, while Mar silver lost $16.77/oz

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.1% with one hour remaining in the session. The benchmark index spent today's affair in a ten-point range and was only able to make a brief late-morning appearance in the green before sliding to a session low in the 2,058 area.

The index could still find its way into positive territory, but the heavily-weighted energy sector (-1.0%) continues weighing down the S&P 500. Meanwhile, crude oil ended the pit session in the middle of its range, down 2.4% at $48.87/bbl.

2:30 pm: [BRIEFING.COM] The S&P 500 (-0.3%) and Nasdaq Composite (+0.1%) continue trading in mixed fashion after spiking off session lows in reaction to a report indicating leaders from France, Germany, Russia, and Ukraine have agreed to reaffirm the cease-fire agreement that was struck at the first Minsk conference on September 5, 2014.

Last year's agreement was violated shortly after being put into place, and it remains to be seen whether today's reaffirmation can hold for longer.

Treasuries slipped from highs in reaction to the news, but they have retraced the bulk of that move. The 10-yr yield remains lower by a basis point at 1.98%.

2:05 pm: [BRIEFING.COM] The back and forth action that has characterized the equity market this year continues today. Consequently, the S&P 500 has basically been knocked back to being nearly flat for the year.

Today's weakness has been driven by steady and relatively broad-based selling interest. Only two sectors -- consumer staples (+0.2%) and information technology (+0.1%) -- are up for the day. The latter would be down if not for Apple (AAPL 124.23, +2.21), which is up another 1.8% today.

Nothing substantive yet out of the Eurogroup finance ministers meeting to discuss the Greek debt situation and reform proposals other than some clarifications from leading officials that a resolution today is not likely. Elsewhere, news just hit that the four leaders meeting in Minsk on the Russia-Ukraine issue are reaffirming the prior cease-fire agreement.

Separately, the January Treasury Budget statement was just released. It showed a deficit of $17.5 bln (Briefing.com consensus -$19.0 bln). The Treasury data are not seasonally adjusted, so the January deficit cannot be compared to the $1.9 bln surplus recorded in December.

1:30 pm: [BRIEFING.COM] The main U.S. indices have pushed lower since our last update, setting new session lows after the bond offering at the top of the hour.

The $24 bln 10-yr auction drew a high yield of 2.00%, with indirect bidders accounting for 59.5% of the auction versus the prior 12-auction average of 46.3%.

In recent trade, the biotech sector has seen notable weakness versus the broad market, surrendering its early gain. The iShares Nasdaq Biotech Index (IBB 316.50, -1.76) reflects the downside action.

Despite bouncing back towards $50 after the EIA inventory data, WTI crude (-1.5% to $49.26/bbl) failed to hold on to its strength and has fallen back near $49/bbl. In other news, shares of Tesla Motors (TSLA 210.42, -5.87) are noticeably weak ahead of the company's earnings report due out after today's close.

12:55 pm: [BRIEFING.COM] The major averages are mixed at midday with the S&P 500 (-0.2%) holding a slim loss while the Nasdaq Composite (+0.2%) sits near its best level of the session.

The first half of the midweek affair has been relatively quiet with trading volume running below average, which reflects a wait-and-see approach among participants looking to avoid potential volatility as Europe remains in the headlines.

The Eurogroup met in Brussels today to discuss the ongoing Greek debt crisis, but lingering hopes for a swift deal were dampened by Germany's Finance Minister who said he does not expect a resolution today, echoing comments made earlier by Eurogroup Chief Jeroen Dijsselbloem.

Meanwhile, leaders from Ukraine, Russia, France, and Germany are meeting in Minsk hoping to put together a framework for a peace deal between Russia and Ukraine; however, like with the Eurogroup meeting, a concrete solution is not expected today.

The S&P 500 began the day under modest pressure before crawling back to its flat line, which has served as resistance for the time being. The utilities sector (-2.4%) sits at the bottom of the leaderboard while the energy sector remains lower by 0.8% after being down in excess of 1.3% at the start.

The growth-sensitive sector has struggled to keep pace with the market as crude oil trades lower by 1.0% at $49.54/bbl. WTI crude remains in negative territory, but the energy component has put a major dent in its loss after testing the $48.25/bbl area following today's storage report that revealed a substantial inventory build of 4.868 million barrels.

On the flip side, heavily-weighted consumer staples (+0.2%), health care (+0.1%), and technology (+0.2%) have held gains since the start with the technology sector fueling the outperformance of the Nasdaq Composite. The index has received a helping hand from its largest component by weight as Apple (AAPL 124.00, +1.98) trades higher by 1.6%.

Furthermore, biotechnology also represented a pocket of significant strength in the early going, but the iShares Nasdaq Biotechnology ETF (IBB 318.48, +0.22) has narrowed its gain to 0.1%.

Treasuries sit on their lows after a steady slide from overnight highs with the benchmark 10-yr yield higher by a basis point at 2.01%.

Economic data reported this morning was limited to the Weekly MBA Mortgage Index, which fell 9.0% to follow last week's 1.3% increase.

The Treasury Budget for January will be released at 14:00 ET (Briefing.com consensus -$19.00 billion).

12:25 pm: [BRIEFING.COM] The S&P 500 remains trapped just below its flat line while the Nasdaq (+0.4%) hovers near its session high that was established about an hour ago.

The tech-heavy Nasdaq received an early measure of support from biotechnology, but the iShares Nasdaq Biotechnology ETF (IBB 318.82, +0.56) has narrowed its gain to just 0.2% after being up 1.3% during the first 90 minutes of the session. Similar to the biotech ETF, the health care sector has trimmed its gain to 0.2%.

High-beta chipmakers, however, have not budged with the PHLX Semiconductor Index (+0.3%) remaining near its best level of the day. Furthermore, continued strength in the shares of Apple (AAPL 124.34, +2.29) has provided solid support for the Nasdaq.

11:55 am: [BRIEFING.COM] Equity indices continue hovering near their recent levels with the S&P 500 having spent the past hour in a three-point range.

With the market trading in range-bound fashion, sector standing remains little changed from our previous updates with consumer staples (+0.3%), technology (+0.5%), and health care (+0.5%) representing the only three advancers.

On the flip side, the energy sector (-0.8%) has inched up off its low while the utilities sector (-2.2%) has dropped to the bottom of the leaderboard in a move that coincided with a downtick in Treasuries. The 10-yr note is now on its low with the benchmark yield higher by a basis point at 2.01%.

11:30 am: [BRIEFING.COM] Recent action saw the S&P 500 poke its head into the green before inching back into negative territory. The benchmark index remains pressured by influential sectors like financials (-0.2%), industrials (-0.1%), and energy (-0.8%), but the relative strength in consumer staples (+0.4%), health care (+0.4%), and technology (+0.3%) has helped the index stay away from its session low that was registered one hour after the opening bell.

We speculated this morning that today's session could be similar to the past two days in terms of trading volume. That has been the case so far with volume running below average. The reluctance to step in reflects a wait-and-see approach as the Eurogroup discusses potential solutions for Greece. To that point, Germany's Finance Minister Wolfgang Schaeuble said he does not expect a resolution today, echoing comments made by Eurogroup Chief Jeroen Dijsselbloem

10:55 am: [BRIEFING.COM] Equity indices remain mixed with the S&P 500 (-0.1%) holding a modest loss while the Nasdaq Composite (+0.3%) has powered to a fresh high with help from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 322.00, +3.74) is higher by 1.2% while the broader health care sector (+0.5%) trades ahead of the remaining nine groups.

The tech-heavy Nasdaq has also received a measure of support from a couple influential components of the technology sector (+0.3%) like Apple (AAPL 123.89, +1.87) and Facebook (FB 76.73, +1.54). However, other top-weighted sector components trade in mixed fashion.

On the downside, the energy sector (-1.1%) remains near its low with crude oil down 2.5% at $48.77/bbl. The energy component has moved off its low in the $48.25/bbl area that was reached after today's storage report revealed a substantial inventory build of 4.868 million barrels.

10:40 am: [BRIEFING.COM]

The strength in the dollar index, which is currently near the day's high, is weighing on commodities this morning
WTI Crude Oil prices are extending losses from yesterday, which follows a three-day stretch of gains
Following the weekly EIA inventory data, which showed a build of 4.868 mln, oil dropped to a fresh low for the day. March crude is now -3% at $48.52/barrel
On the other hand, natural gas futures have been in positive territory all day so far, with highs around 2.85/MMBtu. In current trading, the March contract is +3.4% at $2.77/MMBtu
In metals, gold and silver are both near daily lows while gold specifically is falling off a two-day consolidation period. Silver showed relative strength yesterday, but still falls. April gold is now -0.73% to $1223.20/oz, while March silver is -0.40% to $16.80/oz
Copper has been coming off its morning high of $2.58/lb, and just now hit a new fresh low for the day of $2.53/lb
In other news, the Baltic Dry Index fell to a new all-time low this morning. Overnight, the BDI fell 3 points to 553. Prior all-time low was at 554, hit in August of 1986

9:55 am: [BRIEFING.COM] The major averages continue hovering near their opening levels with the S&P 500 lower by 0.1% while the Nasdaq Composite (+0.2%) holds a slim gain.

Only three sectors remain in the green, but all three are among the top-weighted groups. To that point, technology (+0.2%), health care (+0.4%), and consumer staples (+0.2%) hold modest gains. Elsewhere, the consumer discretionary sector trades in-line with the S&P 500, but homebuilders have shown strength after KB Home (KBH 14.03, +0.42) reported a 26.0% spike in orders received so far this quarter.

Treasuries have ticked down to unchanged with the 10-yr yield at 2.00%.

9:40 am: [BRIEFING.COM] The S&P 500 (-0.1%) began the session with a slim loss while the Nasdaq (+0.1%) has shown relative strength in the early going.

Six of ten sectors hold opening losses with energy (-1.4%) displaying relative weakness for the second day in a row. Once again, crude oil has pressured the sector as the energy component trades lower by 1.1% at $49.49/bbl. Elsewhere, the utilities sector (-1.2%) is the only other group that is down more than 0.4%.

On the upside, the consumer staples sector (+0.4%) has shown strength following better than expected results from PepsiCo (PEP 99.80, +1.81) while the top-weighted technology sector (+0.2%) holds a modest gain.

Treasuries remain just above their flat lines with the 10-yr yield off one basis point at 1.99%.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -1.30. The stock market is on track for a modestly lower open with futures on the S&P 500 trading four points below fair value. Index futures have maintained narrow ranges throughout the night with participants employing a cautious approach ahead of today's Eurogroup meeting in Brussels, where Greece is the focal point, and Russia-Ukraine peace talks in Minsk.

While neither meeting is expected to produce a rock-solid resolution, it would not be surprising to see a torrent of headlines throughout the day. With that in mind, some investors have stayed away from the rumor mill, evidenced by below-average trading volume over the past two days.

Treasuries hold slim gains with the 10-yr yield lower by a basis point at 1.99%.

On the corporate front, PepsiCo (PEP 100.20, +2.21) is on track to open higher by 2.3% after beating estimates and raising its annualized dividend to $2.81 per share from $2.62. Elsewhere, KB Home (KBH 14.15, +0.54) has jumped 4.0% in pre-market action after reporting a 26.0% spike in its orders received so far this quarter.

The Treasury Budget for January will be released at 14:00 ET (Briefing.com consensus -$19.00 billion).

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -2.00. The S&P 500 futures trade five points below fair value.

Asian markets ended mostly higher while Japan's Nikkei was closed for National Founding Day.

Economic data was limited:
South Korea's Unemployment Rate ticked down to 3.4% from 3.5% (expected 3.5%)
Australia's Westpac Consumer Sentiment improved to 8.0% from 2.4% while Home Loans increased 2.7% month-over-month (expected 2.0%; prior -0.4%)
New Zealand's Electronic Card Retail Sales fell 0.4% month-over-month (expected 0.2%; previous -0.1%)

------

Hong Kong's Hang Seng lost 0.9% amid broad weakness. Property-related names underperformed with China Resources Land and Henderson Land Development falling 2.5% and 1.8%, respectively. Gaming names outperformed with Galaxy Entertainment and Sands China both climbing near 1.0% apiece.
China's Shanghai Composite enjoyed broad support. Hundsun Technologies, Jointown Pharmaceuticals, and Anhui Chaodong Cement all spiked the limit, 10.0%.
India's Sensex gained 0.6% with help from financials. Axis Bank spiked 2.7% and ICICI Bank advanced 1.1%. Oil & Natural Gas Co was the weakest performer, falling 2.7%.

Major European indices trade mostly lower with Spain's IBEX (-0.7%) showing the largest decline. Regional participants are on a lookout for headlines related the progress of today's Eurogroup meeting in Brussels and Russia-Ukraine peace talks taking place in Minsk. Also of note, Greek Prime Minister Alexis Tsipras, who won a confidence vote yesterday, received an invitation to visit China from Premier Li Keqiang.

Economic data was limited:
French Current Account swung from a surplus of EUR300 million to a deficit of EUR1.90 billion (expected deficit of EUR100 million)
Norway's Q4 GDP rose 0.9% quarter-over-quarter (expected 0.4%; prior 0.5%)

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Germany's DAX is lower by 0.1% with about half of the index trading in the red. Merck and Bayer lag with respective losses of 1.3% and 0.6% while utilities outperform. RWE has jumped 1.4% and E.On is higher by 0.5%.
UK's FTSE has given up 0.4%. Tullow Oil is the weakest performer, down 5.6%, after suspending its dividend. Homebuilders outperform with Barrat Developments, Persimmon, and Taylor Wimpey up between 1.5% and 2.6%.
In France, the CAC trades down 0.4%. Financials lag with AXA and Unibail-Rodamco down 1.3% and 1.0%, respectively.
Spain's IBEX is lower by 0.8% amid broad weakness. Abengoa, Grifols, Repsol, and Telefonica are down between 1.3% and 3.6%.

8:29 am: [BRIEFING.COM] S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -2.50. U.S. equity futures continue holding losses, but the decline remains modest in scope with S&P 500 futures trading five points below fair value.

The past two days saw below-average volume, which is understandable considering some participants stuck to the sidelines ahead of today's Eurogroup meeting in Brussels and the Russia-Ukraine peace talks in Minsk. Although both events are taking place today, it would be a stretch to expect a definitive resolution to either. That being said, headlines regarding the progress of negotiations are expected throughout the day.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -5.00. U.S. equity futures trade modestly lower amid cautious action overseas. The S&P 500 futures hover five points below fair value after maintaining a four-point range throughout the night. Once again, today's focus will be on Europe as regional finance ministers meet to discuss possible solutions to the Greek debt crisis. In addition, leaders from Ukraine, Russia, France, and Germany are meeting in Minsk in an attempt at negotiating peace in Ukraine.

Treasuries have benefited from some buying interest with the 10-yr yield lower by two basis points at 1.98%.

The weekly MBA Mortgage Index fell 9.0% to follow last week's 1.3% increase.

Today's final data point-January Treasury Budget-will be released at 14:00 ET (Briefing.com consensus -$19.00 billion).

In U.S. corporate news of note:

Akamai Technologies (AKAM 64.81, +2.60): +4.2% in reaction to better than expected results and guidance that was roughly in-line with analyst expectations.
PepsiCo (PEP 100.35, +2.36): +2.4% after beating estimates and raising its annualized dividend to $2.81 per share from $2.62.
Mosaic (MOS 52.00, +1.22): +2.4% following better than expected revenue.
Time Warner (TWX 81.50, +0.69): +0.9% following its bottom-line beat and an annualized dividend boost to $1.40 from $1.27.
WellCare Health Plans (WCG 73.56, -1.59): -2.1% after missing bottom-line estimates and guiding below consensus.

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite +0.5%, Hong Kong's Hang Seng -0.9%, and Japan's Nikkei was closed for National Founding Day.
In economic data:
South Korea's Unemployment Rate ticked down to 3.4% from 3.5% (expected 3.5%)
Australia's Westpac Consumer Sentiment improved to 8.0% from 2.4% while Home Loans increased 2.7% month-over-month (expected 2.0%; prior -0.4%)
New Zealand's Electronic Card Retail Sales fell 0.4% month-over-month (expected 0.2%; previous -0.1%)
In news:
The People's Bank of China released its monetary policy report for Q4, which communicated the intention to employ prudent policy and fine-tune it as appropriate in a timely manner.

Major European indices trade mostly lower. Germany's DAX -0.2%, UK's FTSE -0.4%, and France's CAC -0.5%. Elsewhere, Italy's MIB +0.1% and Spain's IBEX -0.9%.
Economic data was limited:
French Current Account swung from a surplus of EUR300 million to a deficit of EUR1.90 billion (expected deficit of EUR100 million)
Norway's Q4 GDP rose 0.9% quarter-over-quarter (expected 0.4%; prior 0.5%)
Among news of note:
In Greece, Prime Minister Alexis Tsipras won a confidence vote from his parliament ahead of today's Eurogroup meeting. In addition, Mr. Tsipras has received an invitation to visit China from Premier Li Keqiang.

7:10 am: [BRIEFING.COM] S&P futures vs fair value: -4.0. Nasdaq futures vs fair value: -2.0.

7:10 am: [BRIEFING.COM] Nikkei...Holiday......... Hang Seng...24,315.02...-213.10...-0.90%.

7:10 am: [BRIEFING.COM] FTSE...6,798.51...-30.40...-0.20%. DAX...10,717.56...-36.30...-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

http://www.thestrategylab.com
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