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 4:39 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: February 12th Thursday Trade Results - Profit $80.00
PostPosted: Fri Feb 13, 2015 5:42 am 
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:
021215-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+80.00.png
021215-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+80.00.png [ 179.69 KiB | Viewed 286 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $80.00 dollars or +0.80 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($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 @ $80.00 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=2004

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:
021215-Key-Price-Action-Markets.png
021215-Key-Price-Action-Markets.png [ 1.09 MiB | Viewed 290 times ]

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


12-Feb-15 16:15 ET [BRIEFING.COM]

Dow +110.24 at 17972.38, Nasdaq +56.43 at 4857.61, S&P +19.95 at 2088.48
[BRIEFING.COM] The stock market finished the Thursday session on a broadly higher note. The S&P 500 (+1.0%) settled just six points below its record high that was registered in late December while the Nasdaq Composite (+1.2%) outperformed.

Equity indices began the day with modest gains and continued their advance in undisturbed fashion throughout the day. However, participation was limited once again with 786 million shares changing hands at the NYSE floor (50-day average 836 million).

Stocks received an opening boost after it was confirmed that leaders from France, Germany, Russia, and Ukraine struck a ceasefire agreement following a marathon negotiation. The agreement is aimed at restoring the previous Minsk accord from last September, which was violated shortly after its implementation. Despite the uninspiring precedent, hopes for a longer lasting agreement this time around contributed to a global equity rally. Italy's MIB (+2.1%) led the way in Europe while Germany's DAX advanced 1.6%.

As for Greece, Bloomberg reported that Germany is ready to soften its negotiating stance while Eurogroup chief Jeroen Dijsselbloem and Greek Prime Minister Alexis Tsipras agreed to begin a "technical assessment" of the common ground between Greece and the current program in preparations for the next Eurogroup meeting on Monday.

Eight of ten sectors ended the day in positive territory with materials (+1.8%), technology (+1.6%), and energy (+1.3%) spending the day in the lead. Other cyclical sectors posted slimmer gains, but most ended ahead of the broader market while industrials (+0.9%) finished just behind the S&P 500.

Notably, the top-weighted technology sector was underpinned by Cisco Systems (CSCO 29.46, +2.53), which surged 9.4% after beating estimates and raising its quarterly dividend 10.5% to $0.21/share. In turn, Cisco's outperformance helped the Nasdaq spend the day ahead of the broader market.

Meanwhile, another Nasdaq component—Tesla (TSLA 202.99, -9.81)—lost 4.6% in reaction to disappointing results due to below-consensus deliveries in Q4.

High-beta chipmakers also contributed to the strength of the tech-heavy index after NVIDIA (NVDA 22.30, +1.49) reported better than expected results that sparked price target hikes at Canaccord, Needham, and Topeka, among others. The stock spiked 7.2% while the PHLX Semiconductor Index rose 1.6%.

Elsewhere, the energy sector received support from crude oil, which spent the day in positive territory. The energy component notched an intraday high near $51.39/bbl and settled near that level with a 4.7% gain for the day.

In M&A news, Expedia (EXPE 89.57, +11.35) agreed to acquire Orbitz (OWW 11.72, +2.10) for $12.00/share, which boosted other travel-related names. Priceline.com (PCLN 1091.95, +31.89) was a notable outperformer, climbing 3.0%.

Also of note, the price-weighted Dow spent the day behind the broader market due to a 6.4% decline in American Express (AXP 80.48, -5.53) after the company announced it will not renew its co-brand and merchant acceptance agreements with Costco (COST 147.76, +0.30) once the current agreement expires on March 31, 2016.

Treasuries traded lower in overnight action, but surged following today's disappointing Retail Sales report. The 10-yr note inched away from its high, but still ended in the green with the benchmark yield lower by a basis point at 1.98%.

Economic data included Initial Claims, Retail Sales, and Business Inventories:

The weekly initial claims level increased to 304,000 from an upwardly revised 279,000 (from 278,000) while the Briefing.com consensus expected an increase to 285,000
The continuing claims level declined to 2.354 million from an upwardly revised 2.405 million (from 2.400 million) while the consensus expected a decline to 2.395 million
Retail sales declined 0.8% in January after declining an unrevised 0.9% in December while the Briefing.com consensus expected a decline of 0.4%
Excluding autos, sales fell an even larger 0.9% in January after declining by the same amount in December while the consensus expected these sales to also decline 0.4% in January
Core retail sales, which exclude motor vehicle dealers, gasoline stations, and building material and supply stores, increased by a very modest 0.2% in January, which is even less impressive when compared to the sizable 0.7% increase in aggregate earnings reported in the January employment report
Business inventories increased 0.1% in December following a 0.2% increase in November while the Briefing.com consensus expected an increase of 0.2%
The changes in inventories for manufacturers (-0.3%) and merchant wholesalers (0.1%) were known prior to the release. The only new information was that retailer inventories increased 0.5% in December after declining 0.3% in November

Tomorrow, Import/Export Prices for January will be reported at 8:30 ET while the advance reading of the Michigan Sentiment Index will be released at 10:00 ET (Briefing.com consensus 98.3).

Nasdaq Composite +2.6% YTD
S&P 500 +1.4% YTD
Dow Jones Industrial Average +0.8% YTD
Russell 2000 +0.9% YTD

3:35 pm: [BRIEFING.COM]

The Dollar Index continued morning weakness into the afternoon, following retail sales and claims data this morning.

WTI crude oil futures rallied after floor trading opened this morning and rose above the $51.00/barrel level. Crude pulled back and erased most of its gains quickly before buyers jumped in again. March crude went on the end the day up $2.32/barrel to $51.19/barrel, and hit a new high of the day at $51.60/barrel in electronic trading.

In addition, March Nat Gas spent most of the morning and afternoon trading in negative territory. Following the weakness in the Dollar Index, March Nat Gas reached daily lows of $2.68/MMBtu...Metals all closed the day with modest gains, as March Silver closed the day $0.01 higher at $16.78/oz, while April Gold closed today's session $0.10 higher to $1220.30/oz, and Mar Copper ended the day $0.07 higher at $2.61/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.9% with one hour remaining in the session. The benchmark index began the day with a five-point gain and has built on that advance throughout the session. As a result, the S&P 500 has climbed to a new high for the year, and is now just seven points below its all-time high that was registered at the end of December.

With one more session remaining in the week, eight of ten sectors are on course to register weekly gains between 0.6% (health care) and 3.5% (technology) while utilities and telecom services are on track for respective weekly losses of 0.1% and 1.6%.

2:30 pm: [BRIEFING.COM] The major averages continue drifting near their highs as the quiet afternoon wears on.

Not long ago, Bloomberg, citing sources, reported that Germany is willing to soften the conditions of the aid program for Greece in order to secure an extension. The report was met with a muted reaction in the market, but the Global X Greece ETF (GREK 12.77, +0.83), ticked to a fresh high. The ETF is now higher by 7.0%.

Elsewhere, Treasuries have been backtracking since today's 30-yr auction. The benchmark 10-yr yield is now little changed at 1.99% after touching the 1.96% level earlier.

2:00 pm: [BRIEFING.COM] Equity indices hover near their best levels of the session.

Last week's strong employment report was quickly rebuffed in today's disappointing retail sales numbers.

The story of the retail sales report begins with lower gasoline prices. Sales at gasoline stations declined 9.3% in January after falling 7.4% in December. That decline weighed down overall retail sales growth.

Unfortunately, the story doesn't end there.

Lower gasoline prices were expected to spark a broad acceleration in retail sales growth. Essentially, the windfall from spending less at the pump was supposed to transfer to other areas of the economy. That did not happen.

Core retail sales, which exclude motor vehicle dealers, gasoline stations, and building material and supply stores, increased by a very modest 0.2% in January. The gain is even less impressive when compared to the sizable 0.7% increase in aggregate earnings reported in the January employment report.

As sales growth underperforms income growth, the personal savings rate should inch higher.

1:30 pm: [BRIEFING.COM] Stocks continue to push higher with the major U.S. indices all at or near their session highs.

As the U.S. market extends its gains, the rate-sensitive sectors remain weak, with utilities (-0.42%) and telecoms (-0.41% ) the only S&P sectors in the red.

In equities, names in the online travel industry are experiencing significant gains on the day after Expedia (EXPE 91.29, +13.07) announced it will acquire Orbitz (OWW 11.71, +2.09) in a deal valued at ~$1.6 bln. This comes just weeks after Expedia announced it had acquired Travelocity for $280 mln in cash as Expedia continues to make large acquisitions to increase its market share against travel giant Priceline (PCLN 1101.19, +41.13). TripAdvisor (TRIP 83.95, +16.68), which also reported strong earnings last night. is another related name benefiting from EXPE-OWW announcement.

At the top of the hour, the $16 bln 30-year bond auction was met with less than average demand at a high yield of 2.560% on a bid-to-cover ratio of 2.26 (prior 12-auction average was 2.45).

12:55 pm: [BRIEFING.COM] The major averages sport solid midday gains with the S&P 500 (+0.7%) trading behind the Nasdaq Composite (+0.9%), but ahead of the Dow (+0.4%).

Equity indices spiked out of the gate in reaction to leaders from France, Germany, Russia, and Ukraine confirming their agreement to implement a ceasefire. It is worth noting that the first Minsk accord from last September was violated shortly after being signed, but the hope for a longer lasting agreement this time around sparked a rally in global equities, sending Germany's DAX higher by 1.6%.

As for Greece, a press conference that took place late last evening made it clear that a chasm remains between the country and the Eurogroup, but both sides will return to the negotiating table on Monday.

Eight of ten sectors trade in the green with all six cyclical groups showing relative strength while the four countercyclical sectors lag across the board.

The technology sector (+1.4%) holds the lead with significant help from Cisco Systems (CSCO 29.39, +2.46), which has spiked 9.1% after beating estimates and raising its quarterly dividend 10.5% to $0.21/share. Conversely, Cisco's outperformance has helped the Nasdaq stay ahead of the broader market. In other earnings news, Tesla (TSLA 201.10, -11.70) has surrendered 5.5% after missing earnings and revenue estimates due to below-consensus deliveries in Q4.

Elsewhere, the financial sector (+0.8%) trades ahead of the broader market even though Dow component American Express (AXP 80.97, -5.04) is lower by 5.9% after the company announced it will not renew its co-brand and merchant acceptance agreements with Costco (COST 147.90, +0.44) after the current agreement expires on March 31, 2016. Meanwhile, other large sector components like JPMorgan Chase (JPM 59.32, +0.95) and Citigroup (C 50.69, +1.01) hold respective gains of 1.6% and 2.0%.

In other corporate news, Expedia (EXPE 90.79, +12.57) has agreed to acquire Orbitz (OWW 11.70, +2.08) for $12.00/share.

Also of note, the energy sector (+0.8%) was among the early leaders, but the group has pulled back even though crude oil remains higher by 4.0% at $50.78/bbl after testing the $51.50/bbl level earlier.

Treasuries slumped overnight in reaction to the Ukraine-Russia ceasefire, but jumped off those lows after today's disappointing Retail Sales report. Currently, the 10-yr note sits on its high with the benchmark yield lower by three basis points at 1.96%.

Economic data included Initial Claims, Retail Sales, and Business Inventories:

The weekly initial claims level increased to 304,000 from an upwardly revised 279,000 (from 278,000) while the Briefing.com consensus expected an increase to 285,000
The continuing claims level declined to 2.354 million from an upwardly revised 2.405 million (from 2.400 million) while the consensus expected a decline to 2.395 million
Retail sales declined 0.8% in January after declining an unrevised 0.9% in December while the Briefing.com consensus expected a decline of 0.4%
Excluding autos, sales fell an even larger 0.9% in January after declining by the same amount in December while the consensus expected these sales to also decline 0.4% in January
Core retail sales, which exclude motor vehicle dealers, gasoline stations, and building material and supply stores, increased by a very modest 0.2% in January, which is even less impressive when compared to the sizable 0.7% increase in aggregate earnings reported in the January employment report
Business inventories increased 0.1% in December following a 0.2% increase in November while the Briefing.com consensus expected an increase of 0.2%
The changes in inventories for manufacturers (-0.3%) and merchant wholesalers (0.1%) were known prior to the release. The only new information was that retailer inventories increased 0.5% in December after declining 0.3% in November

12:30 pm: [BRIEFING.COM] Recent action saw the S&P 500 (+0.7%) inch up to its session high, but "inch" is the operative word, considering the index has traded within a few points of its best level of the day since the late morning.

Interestingly, equities have held near their highs even though Treasuries have spent the past three hours in a steady climb. The 10-yr note surged off its low following the disappointing retail sales report and has recently climbed back into the green. The benchmark yield is currently lower by almost three basis points at 1.96%.

11:55 am: [BRIEFING.COM] Not much change in the major averages with the S&P 500 (+0.6%) having spent the past two hours in a six-point range just below today's session high.

Energy (+1.0%), materials (+1.3%), and technology (+1.2%) have paced today's advance from the get-go with the energy sector enjoying support from crude oil. The energy component marked a session high just under the $51.50/bbl level before slipping back into its overnight range. WTI crude has been able to climb to the top of that range in recent action and currently trades higher by 3.8% at $50.66/bbl. As for the energy sector, the growth-sensitive group has erased this week's loss and is currently higher by 0.4% for the week.

11:25 am: [BRIEFING.COM] Equity indices continue cruising near their highs with the S&P 500 higher by 0.5%.

In general, cyclical sectors have had a better showing than their defensively-oriented counterparts today. To that point, five of six cyclical groups trade ahead of the benchmark index while the lone laggard-industrials (+0.4%)-follows not far behind.

Meanwhile, all four defensively-oriented sectors underperform with health care (-0.3%), telecom services (-0.3%), and utilities (-0.3%) at the bottom of the leaderboard while the consumer staples sector (+0.1%) holds a slim gain.

Elsewhere, Treasuries have continued their advance off the overnight low, pressuring the 10-yr yield to 1.98% (-1 bps).

10:55 am: [BRIEFING.COM] The major averages remain near their early highs with the S&P 500 (+0.6%) trading not far behind the Nasdaq Composite (+0.8%) and Russell 2000 (+0.8%). Meanwhile, the Dow Jones Industrial Average (+0.3%) underperforms.

The price-weighted index has been weighed down by shares of American Express (AXP 81.04, -4.97). The stock has given up 5.8% after the company announced it will not renew its co-brand and merchant acceptance agreements with Costco (COST 147.90, +0.44). The current agreement is set to expire on March 31, 2016.

American Express is the only Dow member holding a loss larger than 0.9% while 25 of 30 index components display gains.

On a separate note, crude oil has retreated from its high, narrowing its gain to 2.6% at $50.08/bbl after testing the $51.00/bbl level.

10:40 am: [BRIEFING.COM]

The Dollar Index has spent all of the morning in negative territory, falling big initially when the Jan retail sales, initial claims, and continuing claims data came out.
Crude had an up-and-down morning, albeit, spending all of the morning in positive territory.
WTI crude saw a daily high of $51.41/barrel, but has since given up some of those gains, and now sits up 2.4% at 50.01/barrel
In natural gas, recent weakness comes off a morning that saw the commodity in positive territory.
March nat gas has recently fallen to fresh daily lows following inventory data which saw a draw of 160 bcf, and March nat gas now sits at -1.2% at $2.76/MMBtu
Gold and Silver have been positive for most of the morning, with Silver only recently spending a brief moment in negative territory. April Gold now sits +0.2% at $1221.60/oz. March Silver is now flat at $16.76/oz. Both initially saw relative strength following claims data
Copper has seen relative strength for the entirety of the morning, rising steadily following a down day yesterday, and now sits about +2.0% at $2.59/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.6%.

A handful of cyclical sectors like energy (+1.5%), materials (+1.2%), and technology (+1.3%) remain in the lead while consumer discretionary (+0.4%) and industrials (+0.5%) have yet to catch up to the broader market.

Just released, Business Inventories rose 0.1% in December, while the Briefing.com consensus expected an increase of 0.2%. This followed the prior month's unrevised increase of 0.2%.

9:40 am: [BRIEFING.COM] The stock market has climbed out of the gate with Nasdaq Composite (+0.6%) in the lead thanks to better than expected earnings reported by Cisco Systems (CSCO 29.30, +2.37). The stock has spiked 8.8% while the broader technology sector trades higher by 1.0%, which puts the group among the leaders.

Elsewhere, materials (+1.1%) and energy (+1.4%) have also shown significant strength with the latter boosted by crude oil. The energy component is higher by 4.9% after spending the overnight session in the green.

On the downside, telecom services (-0.3%) and utilities (-0.4%) have begun the day under modest pressure.

The Business Inventories report for December (Briefing.com consensus 0.2%) will be released at 10:00 ET.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +9.00. Nasdaq futures vs fair value: +25.50. The stock market is on track to register solid gains at the start of today's session as futures on the S&P 500 trade nine points above fair value.

Index futures spiked not long after yesterday's closing bell when it was reported that Greece and the Eurogroup are ironing out an extension to the current bailout agreement. That gain was short-lived as the subsequent Eurogroup press conference made it clear that the two sides remain far apart.

Earlier this morning, futures revisited last evening's high after it was confirmed that leaders from France, Germany, Russia, and Ukraine have signed a ceasefire agreement, which was rumored during yesterday's session. It is worth mentioning that a similar from September 5 was violated shortly after the implementation.

Index futures held near their highs until the January Retail Sales report revealed a decline of 0.8% while the Briefing.com consensus expected a slimmer decrease of 0.4%. Excluding autos, retail sales fell 0.9%, which was also below the Briefing.com consensus (-0.4%).

Treasuries jumped off their lows in reaction to the report, returning the 10-yr yield to unchanged (1.99%).

The Business Inventories report for December (Briefing.com consensus 0.2%) will be released at 10:00 ET.

On the corporate front, Expedia (EXPE 86.85, +8.63) has agreed to acquire Orbitz (OWW 11.69, +2.07) for $12.00/share. Elsewhere, Cisco Systems (CSCO 29.00, +2.07) is on course to open higher by 7.5% after beating estimates and raising its quarterly dividend 10.5% to $0.21/share.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +24.50. The S&P 500 futures trade eight points above fair value.

Asian markets ended the day on a mostly higher note with Japan's Nikkei (+1.9%) in the lead upon returning from Wednesday's holiday. According to China Securities Network, the People's Bank of China cut the reserve requirement ratio for Bank of Beijing by 1.0% and injected liquidity through open market operations ahead of the Lunar New Year.

In economic data:
Japan's Machine Tool Orders rose 20.4% year-over-year (prior 33.9%). Separately, Core Machinery Orders spiked 11.4% year-over-year (expected 5.9%; previous -14.6%) and Corporate Goods Price Index ticked up 0.3% year-over-year (expected 1.1%; last 1.8%)
India's CPI accelerated to 5.1% from 5.0% year-over-year (expected 5.4%) while Industrial Production rose 1.7% year-over-year (consensus 1.6%; prior 3.8%)
Australia's Claimant Count increased 12,200 (expected 5,000; previous -42,400) while the Unemployment Rate jumped to 6.4% from 6.1% (consensus 6.2%)
Japan's Nikkei jumped 1.9% amid broad support. Department store operator Marui Group spiked 16.2% following a buyback announcement. FANUC and Sony also outperformed, climbing 6.2% and 5.1%, respectively.
Hong Kong's Hang Seng ended in the middle of its range, adding 0.4%. Telecom names China Mobile and China Unicom Hong Kong ended among the leaders with gains of 4.2% apiece. Gaming names lagged with Galaxy Entertainment and Sands China falling 2.3% and 1.6%, respectively.
China's Shanghai Composite settled near its high, adding 0.5%. Growth-sensitive names outperformed with Lanzhou LS Heavy Equipment and Zhejiang Longsheng Group both spiking 10.0%. China Vanke kept pace with the index, climbing 0.5%.
India's Sensex settled on its high, climbing 1.0%. Dr Reddy's Laboratories paced the move, climbing 5.7%.


Major European indices trade higher across the board. The Eurogroup could not agree on a joint statement with Greece yesterday, but the parties have announced that negotiations will continue on Monday. Elsewhere, leaders from France, Germany, Russia, and Ukraine have signed a ceasefire agreement, which was rumored during yesterday's session.

In other news, Sweden's Riksbank cut its repurchase rate to -0.1% from 0.0% and announced a quantitative easing program in the amount of SEK10 billion.

Also of note, the Bank of England released its inflation report, which stated the central bank will not hesitate to cut rates if Britain faces a risk of "a vicious cycle of falling prices."

Economic data was limited:
Eurozone Industrial Production was unchanged month-over-month (expected 0.2%; prior 0.1%) while the year-over-year reading slipped 0.2% (consensus 0.3%; last -0.8%)
Germany's CPI fell 1.1% month-over-month (expected -1.0%; prior -1.0%) while the year-over-year reading declined 0.4% (consensus -0.3%; last -0.3%)

------

UK's FTSE is higher by 0.2% with miners showing strength. Anglo American, Glencore, and Rio Tinto are up between 2.6% and 3.8%. Energy names lag with Royal Dutch Shell and Tullow Oil both down near 2.0%.
In France, the CAC trades up 1.1% with financials pacing the advance. BNP Paribas, Credit Agricole, and Societe Generale hold gains between 2.0% and 4.3%.
Germany's DAX has climbed 1.6% amid broad strength. Basic materials names lead with HeidelbergCement, BASF, and Lanxess up between 2.6% and 3.3%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +9.70. Nasdaq futures vs fair value: +22.70. The S&P 500 futures trade ten points above fair value.

The latest weekly initial jobless claims count totaled 304,000 while the Briefing.com consensus expected a reading of 285,000. Today's tally was above the revised prior week count of 279,000 (from 278,000). As for continuing claims, they rose to 2.354 million from 2.405 million.

January retail sales fell 0.8% while the Briefing.com consensus expected a decrease of 0.4%. The prior month's reading was left unrevised at -0.9%. Excluding autos, retail sales fell 0.9%, while the consensus expected a decrease of 0.4%.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +12.00. Nasdaq futures vs fair value: +25.00. U.S. equity futures hover near their pre-market highs amid upbeat action overseas. The S&P 500 futures trade 12 points above fair value following an active night. Futures spiked last evening after it was reported that Greece and the Eurogroup have agreed to an extension of the current bailout program, but that move was retraced in short order after the Eurogroup press conference made it clear that the meeting did not produce any concrete agreements, other than plans to meet once again on Monday. Futures spiked again in the early morning hours after it was confirmed that leaders from France, Germany, Russia, and Ukraine have signed a ceasefire agreement, which was rumored during yesterday's session.

Treasuries have retreated, sending the 10-yr yield higher by almost five basis points to 2.04%.

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.

In U.S. corporate news of note:

Cisco Systems (CSCO 28.65, +1.72): +6.4% after beating estimates and raising its quarterly dividend to $0.21/share.
Credit Suisse (CS 23.29, +1.88): +8.8% in reaction to above-consensus results.
Whole Foods Market (WFM 54.50, +0.99): +1.9% following its one-cent beat and reaffirmed guidance.
NetApp (NTAP 37.40, -2.39): -6.0% after missing estimates and guiding below consensus. The company added $2.50 billion to its buyback authorization.
NVIDIA (NVDA 21.65, +0.84): +4.0% after beating estimates and guiding in-line.
Shire (SHPG 223.90, +5.72): +2.6% in reaction to its revenue beat.
Tesla (TSLA 197.25, -15.55): -7.3% following disappointing results due to below-consensus deliveries in Q4.

Reviewing overnight developments:

Asian markets ended higher. Hong Kong's Hang Seng +0.4%, China's Shanghai Composite +0.5%, and Japan's Nikkei +1.9%
In economic data:
Japan's Machine Tool Orders rose 20.4% year-over-year (prior 33.9%). Separately, Core Machinery Orders spiked 11.4% year-over-year (expected 5.9%; previous -14.6%) and Corporate Goods Price Index ticked up 0.3% year-over-year (expected 1.1%; last 1.8%)
India's CPI accelerated to 5.1% from 5.0% year-over-year (expected 5.4%) while Industrial Production rose 1.7% year-over-year (consensus 1.6%; prior 3.8%)
Australia's Claimant Count increased 12,200 (expected 5,000; previous -42,400) while the Unemployment Rate jumped to 6.4% from 6.1% (consensus 6.2%)
In news:
According to China Securities Network, the People's Bank of China cut the reserve requirement ratio for Bank of Beijing by 1.0% and injected liquidity through open market operations ahead of the Lunar New Year.

Major European indices trade higher across the board. UK's FTSE +0.2%, France's CAC +1.1%, and Germany's DAX +1.7%. Elsewhere, Spain's IBEX +2.1% and Italy's MIB +2.2%
Economic data was limited:
Eurozone Industrial Production was unchanged month-over-month (expected 0.2%; prior 0.1%) while the year-over-year reading slipped 0.2% (consensus 0.3%; last -0.8%)
Germany's CPI fell 1.1% month-over-month (expected -1.0%; prior -1.0%) while the year-over-year reading declined 0.4% (consensus -0.3%; last -0.3%)
Among news of note:
Sweden's Riksbank cut its repurchase rate to -0.1% from 0.0% and announced a quantitative easing program in the amount of SEK10 billion.
The Bank of England released its inflation report, which stated the central bank will not hesitate to cut rates if Britain faces a risk of "a vicious cycle of falling prices."

7:42 am: [BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +24.00.

7:42 am: [BRIEFING.COM] Nikkei...17,979.72...+327.00...+1.90%. Hang Seng...24,422.15...+107.10...+0.40%.

7:42 am: [BRIEFING.COM] FTSE...6,821.86...+4.70...+0.10%. DAX...10,917.06...+165.50...+1.50%.

http://www.briefing.com/investor/market ... z3RcJdm2HK

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