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 Post subject: February 23rd Monday Trade Results - Profit $597.50
PostPosted: Tue Feb 24, 2015 3:15 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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022315-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+597.50.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 @ $410.00 dollars or +4.10 points, Emini ES ($ES_F) futures @ $187.50 dollars or +3.75 points, Light Crude Oil CL ($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 @ $597.50 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=2011

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=257&t=2664

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Market Context Summaries

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

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


4:10 pm: [BRIEFING.COM] The major averages began the new week on a sleepy note. The S&P 500 ended flat after spending the day in a seven-point range while the Nasdaq (+0.1%) finished a little ahead of the benchmark index.

In large part, the lack of activity on Monday could be explained by participants sticking to the sidelines ahead of Fed Chair Janet Yellen's semiannual testimony on monetary policy. Tomorrow, Ms. Yellen will appear before the Senate Banking Committee at 10:00 ET while her appearance in front of the House Financial Services Committee will follow on Wednesday. Since the minutes from the latest FOMC policy meeting showed waning support for increasing the fed funds rate during the first half of the year, participants will be on a lookout for similar hints from the Fed Chair tomorrow.

Meanwhile in Europe, Greece's government was expected to present a list of reforms today, but it remains unclear whether the Eurogroup received that list. Greek Finance Minister Yanis Varoufakis told CNN that the list was indeed delivered today, but separate reports indicated reform plans will be submitted tomorrow.

The wait-and-see tone resulted in range-bound action on light volume with only 720 million shares changing hands at the NYSE floor.

Six of ten sectors registered losses with all six cyclical sectors ending in the red. Most notably, the energy sector (-0.4%) slumped to the bottom of the leaderboard at the start, exerting pressure on the market throughout the day. The group lagged as crude oil fell 2.5% to $49.56/bbl. The energy component saw a brief afternoon spike into the $50.00/bbl area after Nigeria's oil minister said the sharp slide in crude prices could lead to an emergency OPEC meeting. WTI crude returned to its afternoon low after OPEC refuted the report, announcing no plans for an emergency meeting at this time.

Elsewhere among cyclical sectors, financials (-0.4%) and industrials (-0.4%) lagged while technology (+0.2%) finished ahead of the broader market thanks to the shares of Apple (AAPL 133.00, +3.50). The top-weighted sector component spiked 2.7% after announcing a EUR1.70 billion plan to build two data centers in Europe.

In addition to boosting its sector, the largest tech stock helped the Nasdaq spend the day ahead of the S&P. Biotechnology also contributed to the outperformance with the iShares Nasdaq Biotechnology ETF (IBB 338.00, +1.57) adding 0.5% after being up more than 1.0% intraday. In turn, the health care sector (+0.4%) ended in the lead with Valeant Pharmaceuticals (VRX 198.75, +25.49) spiking 14.7% after agreeing to acquire Salix Pharmaceuticals (SLXP 155.76, -2.09) for $158.00/share.

Elsewhere among countercyclical groups, consumer staples (+0.3%) and utilities (+0.7%) posted gains while the telecom services sector (-0.6%) lagged.

Treasuries climbed throughout the day, ending on their highs with the 10-yr yield down five basis points at 2.06%.

Economic data was limited to the Existing Home Sales report, which showed a 4.9% decline in January to a seasonally adjusted annual rate of 4.82 million from an upwardly revised 5.07 million (from 5.04 million) in December while the Briefing.com consensus expected a decline to 4.95 million SAAR.

The existing home sales data is derived from actual closings. Even though mortgage rates declined significantly in January, the impact from lower mortgage rates will not be felt until February. Furthermore, inventory levels continue to be troublesome for growth. During normal sales periods, inventory levels typically hold at roughly 6 months at the current sales rate. In January, inventories represented only a 4.7 months' supply.

Tomorrow, the Case-Shiller 20-city Index for December (Briefing.com consensus 4.3%) will be released at 9:00 ET while February Consumer Confidence will cross the wires at 10:00 ET (consensus 99.3).

Nasdaq Composite +4.8% YTD
S&P 500 +2.5% YTD
Russell 2000 +2.3% YTD
Dow Jones Industrial Average +1.7% YTD

3:40 pm: [BRIEFING.COM]

Oil futures showed some volatility today as investors/trader remained concerned about the global oversupply
This kept WTI crude prices over 3% earlier this morning.
Oil spiked this afternoon following headlines that OPEC may possibly hold an emergency meeting, which would be well before its scheduled meeting in June.
Oil erased those losses after headlines later came out refuting the earlier FT reports... go figure
Ultimately, Apr crude closed $1.26 lower at $49.56/barrel today.
Mar nat gas fell $0.07 to $2.88/MMBtu
Apr gold lost $3.80 to $1200.80/oz, while Mar silver fell $0.03 to $16.27/oz

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.2% with one hour remaining in the session.

In our previous update, we mentioned that Nigeria's oil minister voiced hopes for an emergency OPEC meeting in the face of falling oil prices; however, OPEC has been quick to offer a denial, saying no such plans exist at this time.

Elsewhere, Treasuries sit on their highs with the 10-yr down five basis points at 2.06% while the Dollar Index (94.56, +0.31) is higher by 0.3% with the greenback holding a 0.4% gain against the euro (1.1337).

2:25 pm: [BRIEFING.COM] Equity indices continue drifting near their recent levels with the S&P 500 lower by 0.1%.

Five of six cyclical sectors continue holding losses, but energy (-0.3%) has pulled away from the bottom of the leaderboard in reaction to a short-lived spike in crude oil. WTI crude surged off its afternoon low after Nigeria's oil minister said OPEC could hold an emergency meeting in response to the sharp decline in oil prices. Crude oil jumped $1.00/bbl in reaction to the news, but has retraced that move fully and now trades lower by 2.8% at $49.41/bbl.

Elsewhere, heavily-weighted financials (-0.5%) and industrials (-0.4%) continue showing relative weakness.

2:00 pm: [BRIEFING.COM] The S&P 500 continues holding a modest loss.

This morning's data release showed that the housing market remains on unsteady footing.

Existing home sales declined 4.9% in January to a 4.82 mln seasonally adjusted annual rate (SAAR) from an upwardly revised 5.07 mln SAAR (from 5.04 mln SAAR) in December. The Briefing.com Consensus expected existing home sales to decline to 4.95 mln SAAR.

High prices are making it difficult to draw in first-time homebuyers. In January, the median existing home price increased 6.2% y/y to $199,600. Sales cannot meaningfully accelerate without the return of first-time buyers.

That said, there could be a temporary spike in sales in February. Mortgage rates fell to multi-year lows in January, which should act as incentive for next month's sales.

1:30 pm: [BRIEFING.COM] The major U.S. indices are little changed since our last update after trading in very tight ranges over the latter half of the morning.

Despite the calm session overall, energy (-0.8%) remains in focus as WTI crude (-3.2% to $49.20/bbl) fails to muster sufficient buying strength to work back near $50/bbl.

In equities, shares in cyber-security name CyberArk Software (CYBR 60.91, -9.44) are under heavy pressure today following a downgrade this morning to Underweight at JP Morgan. The downgrade is also dragging down other names in the industry, including Palo Alto Networks (PANW 138.21, -3.40) and FireEye (FEYE 43.75, -2.40). Despite today's notable 13.5% decline, shares of CyberArk are still up 277% since the IPO priced at $16 per share in September of 2014.

12:55 pm: [BRIEFING.COM] The major averages hold modest midday losses with the S&P 500 lower by 0.2% while the Nasdaq Composite (-0.1%) sits a bit closer to its flat line.

Broadly speaking, today's first half has been very quiet with the S&P 500 recovering a portion of its opening decline after starting with a seven-point loss. Cyclical sectors fueled the opening decline and they continue showing relative weakness while defensively-oriented sectors outperform.

All in all, the subdued action is likely a function of a wait-and-see approach among participants ahead of Janet Yellen's two-day testimony before Congress. Ms. Yellen will appear in front of the Senate Banking Committee tomorrow at 10:00 ET and address the House Financial Services Committee on Wednesday.

Meanwhile, European investors are on hold with Greece expected to present a set of reforms tomorrow in order to secure the four-month loan extension from its creditors that was agreed upon on Friday. Originally, the list of reforms was expected today, but that has been delayed, according to recent reports.

Seven sectors sport midday losses with energy (-0.6%), financials (-0.7%), and telecom services (-0.6%) at the bottom of the leaderboard. Notably, the energy sector has been pressured by crude oil, which trades lower by 3.1% at $49.22/bbl.

Similar to energy, five of six cyclical groups trail the broader market while the top-weighted technology sector (-0.1%) trades just ahead. Most large cap sector components trade in the red, but Apple (AAPL 131.97, +2.48) has added 1.9%, which has been a supportive factor.

Shares of Apple have contributed to the outperformance of the Nasdaq Composite, which has also enjoyed support from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 339.31, +2.88) is higher by 0.9% while the health care sector (+0.4%) leads after Valeant Pharmaceuticals (VRX 196.29, +23.03) agreed to acquire Salix Pharmaceuticals (SLXP 155.95, -1.90) for $158.00/share.

Treasuries hover near their best levels of the day with the 10-yr yield down four basis points at 2.07%.

Economic data was limited to the Existing Home Sales report, which showed a 4.9% decline in January to a seasonally adjusted annual rate of 4.82 million from an upwardly revised 5.07 million (from 5.04 million) in December while the Briefing.com consensus expected a decline to 4.95 million SAAR.

The existing home sales data is derived from actual closings. Even though mortgage rates declined significantly in January, the impact from lower mortgage rates will not be felt until February. Furthermore, inventory levels continue to be troublesome for growth. During normal sales periods, inventory levels typically hold at roughly 6 months at the current sales rate. In January, inventories represented only a 4.7 months' supply.

12:25 pm: [BRIEFING.COM] The S&P 500 continues drifting just below its flat line while the Nasdaq Composite has been able to turn positive thanks to the continued strength in the biotechnology group. The iShares Nasdaq Biotechnology ETF (IBB 340.88, +4.45) is now higher by 1.3% while the health care sector (+0.6%) maintains the lead.

Overall, the first half of today's session has been very quiet, which could be a function of participants taking a wait-and-see approach ahead of Janet Yellen's testimony before Congress. Ms. Yellen will appear in front of the Senate Banking Committee tomorrow at 10:00 ET and address the House Financial Services Committee on Wednesday.

Treasuries continue holding the bulk of their gains with the 10-yr yield down three basis points at 2.08%.

11:55 am: [BRIEFING.COM] Not much change in the market with the major averages continuing their slow rebound off session lows.

The energy sector (-0.5%) has climbed off the bottom of today's leaderboard, overtaking the telecom services sector (-0.6%). Outside of the two, the financial sector (-0.5%) is the only other group down 0.5% or more.

On the flip side, countercyclical consumer staples (+0.2%), health care (+0.6%), and utilities (+0.2%) remain in the green.

The latest portion of the rebound in equities has been accompanied by some selling in the Treasury market. The 10-yr note has ticked down from its high, but remains in the green with its yield down three basis points at 2.08%.

11:25 am: [BRIEFING.COM] Equity indices have narrowed their early losses with the S&P 500 now down just 0.1%. The benchmark index hovers in the middle of today's trading range while the Russell 2000 (-0.3%) underperforms.

Although the small-cap Russell 2000 trails the broader market, other high-beta areas trade in mixed fashion. Chipmakers also lag with the PHLX Semiconductor Index down 0.8% while biotech names have built on their early strength. The iShares Nasdaq Biotechnology ETF (IBB 338.65, +2.22) is higher by 0.6%.

Elsewhere, crude oil has climbed off its low, but remains down 2.7% at $49.47/bbl while the energy sector trades lower by 0.5%.

10:55 am: [BRIEFING.COM] The major averages remain pressured with the S&P 500 lower by 0.2%.

Cyclical sectors fueled the opening retreat and those groups continue showing relative weakness. The energy sector has narrowed its decline to 0.7% while the second largest sector by weight-financials-also trades lower by 0.7%.

On the flip side, the health care sector has extended its advance to 0.4%. Valeant Pharmaceuticals (VRX 196.72, +23.46) has jumped 13.7% after agreeing to acquire Salix Pharmaceuticals (SLXP 156.11, -1.74) for $158.00/share. Other biotechnology names have also shown strength with the iShares Nasdaq Biotechnology ETF (IBB 337.86, +1.43) trading higher by 0.4%.

10:35 am: [BRIEFING.COM]

The dollar index is trading higher this morning, which is helping weigh on select commodities
Oil has been in the red all morning with WTI falling below $49/barrel
Apr crude oil is now -3.1% at $49.25/barrel
Gold and silver were in the red overnight, but has since been finding some buyers as the dollar index ticks lower
Apr gold is now +0.2% at $1207.70/oz, while Mar silver is +1.4% at $16.51/oz
Natural gas futures were holding some nice gains overnight, holding above $3/MMBtu, but sold off in recent trade
Mar nat gas is now -0.1% at $2.95/MMBtu

10:00 am: [BRIEFING.COM] The S&P 500 trade lower by 0.3%.

Existing Home Sales for January were reported to have decreased 4.9% from December to an annualized rate of 4.82 million units (Briefing.com consensus 4.95 million).

9:40 am: [BRIEFING.COM] The major averages began in the red with the Dow Jones Industrial Average (-0.4%) trailing its peers. Meanwhile, the S&P 500 trades lower by 0.2% with six of its ten sectors showing early losses.

As expected, the energy sector (-1.0%) opened at the bottom of the leaderboard with crude oil trading lower by 2.6% at $49.48/bbl. Although crude remains sharply lower, it has been able to climb off its early low just north of $48.75/bbl.

Elsewhere, financials (-0.6%) and industrials (-0.4%) are also among the early laggards while consumer staples (+0.1%) and health care (+0.2%) outperform. The health care sector has been underpinned by biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 338.52, +2.09) higher by 0.6%.

The Existing Home Sales report for January will be released at 10:00 ET (Briefing.com consensus 4.95 million).

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -3.30. The stock market is on track for a modestly lower open as futures on the S&P 500 hover three points below fair value.

Generally speaking, overnight action has been subdued with investors in Europe waiting on Greece once again. On Friday, it was reported that the country reached an agreement with the Eurogroup on a four-month loan extension, but that accord is contingent on the approval of a new set of reforms. Greek officials are expected to present that reform plan at some point today. The euro has retreated this morning, sliding to 1.1325 against the dollar (-0.5%).

Meanwhile, the Dollar Index (94.64, +0.39) is higher by 0.4%, which has pressured crude oil. The energy component is currently lower by 3.3% at $49.13/bbl after marking a session low near $48.75/bbl.

The sharp decline in crude prices is likely to weigh on the energy sector at the start. ExxonMobil (XOM 89.09, -0.83) and Halliburton (HAL 42.61, -0.75) are on course to open with respective losses of 1.0% and 1.7%.

On the M&A front, Valeant Pharmaceuticals (VRX 190.10, +16.84) will acquire Salix Pharmaceuticals (SLXP 156.38, -1.47) for $158.00/share.

Treasuries hold modest gains with the 10-yr yield down two basis points at 2.09%.

The Existing Home Sales report for January will be released at 10:00 ET (Briefing.com consensus 4.95 million).

8:58 am: [BRIEFING.COM] S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -3.50. The S&P 500 futures trade four points below fair value.

The Chinese stock market remained closed for the Lunar New Year holiday. Japan's Nikkei 225, however, kept its winning streak alive, scoring its fourth consecutive gain. The Nikkei is up 4.5% since the end of January.

In economic data:
Hong Kong's CPI increased 4.1% year-over-year (expected 4.4%; previous 4.9%)
New Zealand's Credit Card spending rose 6.2% year-over-year (previous 4.5%)
Singapore's CPI fell 0.4% year-over-year (expected -0.3%; prior -0.2%)

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Japan's Nikkei jumped another 0.7% despite a weak showing from its financial sector (-1.0%). Minutes from the latest Bank of Japan meeting indicated that three members expressed reservations about the bank hitting its inflation target due to the downturn in oil prices. Gains in the consumer cyclical (+1.5%), communications (+1.1%), and technology (+1.1%) sectors helped offset weakness in financials. Leading percentage gainers included Casio Computer (+5.9%), Kuraray Co. (+4.9%), Sumco (+4.1%), and Yamaha Corp. (+3.7%).
Hong Kong's Hang Seng ended little changed with gains in the communications (+1.1%) and diversified (+0.5%) sectors helping to offset weakness in the consumer staples (-1.0%) and consumer discretionary (-1.8%) sectors. Galaxy Entertainment (-3.2%) CNOOC (-2.8%), and Sands China (-2.0%) led index decliners while Tencent Holdings (+3.8%), MTR Corp. (+3.2%), and CITIC (+1.8%) led the index gainers.
China's Shanghai Composite was closed in observance of Lunar New Year
India's Sensex declined 0.9%, pressured by losses in its financial (-1.3%) and consumer discretionary (-0.7%) sectors. Reliance Industries (-2.5%), Axis Bank (-2.2%), and Tata Steel (-2.0%) were the worst-performing stocks in the Sensex on Monday.

Major European indices trade mostly higher with Spain's IBEX (+0.7%) in the lead. According to press reports, there is increased friction within Greece's Syriza party following Friday's tentative agreement to extend the current loan by four months. Furthermore, the extension is contingent on the acceptance of a reform package, which is supposed to be presented by Greece today.

Economic data was limited:
Germany's Ifo Business Climate ticked up to 106.8 from 106.7 (expected 107.7) as Business Expectations improved to 102.5 from 102.0 (expected 103.0) while Current Assessment fell to 111.3 from 111.7 (consensus 112.7)
UK's CBI Distributive Trades Survey fell to 1 from 39 (consensus 34)

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UK's FTSE is lower by 0.3% with financials on the defensive. HSBC and Standard Chartered hold respective losses of 5.9% and 4.9% after HSBC reported a 17% decline in pre-tax profits
In France, the CAC is higher by 0.3% with Cap Gemini in the lead. The technology stock has jumped 2.4%. On the downside, Technip is the worst performer, down 2.3% amid today's weakness in crude oil.
Germany's DAX trades up 0.4% with health care-related names in the lead. Bayer, Merck, and Fresenius Medical are up between 0.6% and 2.4% while Deutsche Bank lags, trading lower by 2.0%.
Spain's IBEX has added 0.6%. Banco Popular, Bankinter, and Caixabank hold gains between 1.3% and 1.7%.

8:26 am: [BRIEFING.COM] S&P futures vs fair value: -4.10. Nasdaq futures vs fair value: -2.50. U.S. equity futures continue drifting near their lows, but overnight action was fairly subdued with S&P 500 futures maintaining a five-point range. Meanwhile, Treasuries held modest gains in overnight action, but the benchmark 10-yr note is currently little changed with its yield at 2.11%.

Also of note, crude oil has spent the morning in a sharp slide and currently trades lower by 3.8% at $48.86/bbl. In all likelihood, this will put some early pressure on the energy sector with the likes of Anadarko Petroleum (APC 83.50, -1.95), Chesapeake Energy (CHK 19.85, -0.45), and Halliburton (HAL 42.40, -0.96) down near 2.2% apiece in pre-market action.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -1.30. U.S. equity futures trade near their pre-market lows amid mixed action overseas. The S&P 500 futures hover three points below fair value after slipping to their worst levels of the morning within the past 90 minutes.

On Friday, equities finished on their highs after it was announced that Greece and the Eurogroup have reached a tentative deal to extend Greece's financing until the end of June. As announced on Friday, the deal is contingent on the acceptance of a reform package, which is expected to be presented by Greek officials today.

On a separate note, crude oil trades lower by 3.9% at $48.82/bbl while the Dollar Index (94.77, +0.52) is higher by 0.6%.

U.S. Treasuries hold slim losses with the 10-yr yield higher by nearly a basis point at 2.12%.

Today's economic data will be limited to the Existing Home Sales report for January, which will be released at 10:00 ET (Briefing.com consensus 4.95 million).

In U.S. corporate news of note:

Cooper Tire (CTB 37.71, 0.00) after beating revenue estimates on below-consensus earnings. The company announced a new $200 million buyback.
Spectrum Pharmaceuticals (SPPI 5.54, -1.92): -25.7% after the company confirmed it has received an unfavorable ruling in a case that was presented in a Nevada District Court.
Valeant Pharmaceuticals (VRX 185.10, +11.84): +6.8% after beating estimates and ahead of analyst expectations.

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +0.7%, Hong Kong's Hang Seng +0.02%, and China's Shanghai Composite remained closed for Lunar New Year
In economic data:
Hong Kong's CPI increased 4.1% year-over-year (expected 4.4%; previous 4.9%)
New Zealand's Credit Card spending rose 6.2% year-over-year (previous 4.5%)
Singapore's CPI fell 0.4% year-over-year (expected -0.3%; prior -0.2%)
In news:
The latest Bank of Japan minutes discussed the sharp slide in oil prices, saying the decline could delay the timing of meeting BoJ's 2.0% inflation target

Major European indices trade mostly higher. Germany's DAX +0.4%, France's CAC +0.2%, and UK's FTSE -0.4%. Elsewhere, Italy's MIB +0.3% and Spain's IBEX +0.8%
Economic data was limited:
Germany's Ifo Business Climate ticked up to 106.8 from 106.7 (expected 107.7) as Business Expectations improved to 102.5 from 102.0 (expected 103.0) while Current Assessment fell to 111.3 from 111.7 (consensus 112.7)
UK's CBI Distributive Trades Survey fell to 1 from 39 (consensus 34)
Among news of note:
According to press reports, there is increased friction within Greece's Syriza party following Friday's tentative agreement to extend the current loan by four months

7:11 am: [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -4.00.

7:11 am: [BRIEFING.COM] Nikkei...18,466.92...+134.60...+0.70%. Hang Seng...24,836.76...+4.70...0.00.

7:11 am: [BRIEFING.COM] FTSE...6,886.92...-28.50...-0.40%. DAX...11,086.75...+36.70...+0.30%.

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

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

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Phone: +1 708 572-4885
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