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 Post subject: February 24th Tuesday Trade Results - Profit $757.50
PostPosted: Tue Feb 24, 2015 7:40 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $570.00 dollars or +5.70 points, Emini ES ($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 @ $757.50 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=2012

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 endured another quiet session on Tuesday before a late afternoon rally sent the S&P 500 (+0.3%) to a new record high. The price-weighted Dow (+0.5%) outperformed while the Nasdaq Composite (+0.1%) and Russell 2000 (+0.1%) struggled to keep up. Once again, trading volume was well below average with only about 700 million shares changing hands at the NYSE floor.

Equity indices spent the bulk of the day near their flat lines, seeing little reaction to Fed Chair Janet Yellen's testimony on monetary policy before the Senate Banking Committee.

While the minutes from the latest Fed policy meeting revealed a slight hawkish tilt, that tone was offset by today's comments from Chair Yellen, who reiterated the Fed's intent to remain patient before raising rates, due to weak wage growth and low inflation. In addition, Ms. Yellen indicated the Fed will change its forward guidance prior to hiking rates, and that change to the outlook will clear the way for a potential hike in any particular meeting that follows.

Although the testimony had little impact on equities, Treasuries spiked with the 10-yr yield sliding eight basis points to 1.98% as bond traders showed little concern for a rate hike in the near term. On a related note, the Dollar Index (94.44, -0.13) ended lower by 0.1% after showing strength in the early going.

Nine sectors finished the day in positive territory with rate-sensitive telecom services (+0.6%) and utilities (+0.6%) pacing the advance. The financial sector (+0.5%) also finished among the leaders, thanks in large part to shares of JPMorgan Chase (JPM 60.82, +1.47), which surged 2.5% after the company's CFO hinted at a dividend increase during the company's Investor Day.

Elsewhere among cyclical sectors, the consumer discretionary space (+0.4%) received support from homebuilders after Toll Brothers (TOL 38.49, +1.39) reported better than expected results and boosted its delivery guidance. Toll Brothers spiked 3.8% while the iShares Dow Jones US Home Construction ETF (ITB 28.15, +0.65) rose 2.4%. Also of note, Dow component Home Depot (HD 116.75, +4.47) surged 4.0% after better than expected results and a 26.0% boost to its annualized dividend ($2.36/share) overshadowed below-consensus guidance.

Meanwhile, the top-weighted technology sector (+0.2%) struggled in the early going, but was able to end not far behind the broader market. Apple (AAPL 132.17, -0.83) spent some time on each side of its flat line before ultimately settling lower by 0.6%. Chipmakers, however, displayed broad strength with the PHLX Semiconductor Index jumping 1.3%.

However, not all high-beta groups displayed comparable strength. To that point, biotechnology lagged with the iShares Nasdaq Biotechnology ETF (IBB 335.15, -2.85) ending lower by 0.8%. Biotech's underperformance kept the health care sector (-0.1%) under pressure, but the countercyclical group settled just below its flat line.

Economic data was limited to Consumer Confidence and the Case-Shiller 20-City Index:

The Conference Board's Consumer Confidence Index declined to 96.4 in February from an upwardly revised 103.8 (from 102.9) while the Briefing.com consensus expected a decline to 99.6
The Case-Shiller 20-city Home Price Index for December rose 4.5% against a 4.3% increase expected by the Briefing.com consensus. This followed the previous month's increase of 4.3%

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while New Home Sales for January (Briefing.com consensus 471K) will be reported at 10:00 ET.

Nasdaq Composite +4.9% YTD
S&P 500 +2.8% YTD
Russell 2000 +2.4% YTD
Dow Jones Industrial Average +2.2% YTD

3:40 pm: [BRIEFING.COM]

Oil prices slid lower in afternoon trading and hit a new pit trading low heading into the close
Apr crude oil lost $0.30 today to $49.26/barrel
Nat gas was trending higher and rose as high as $2.97/MMBtu.
By the end of today's session, Apr nat gas closed $0.01 higher at $2.89/MMBtu, and fell into the red in electronic trade
Gold and silver went on to climb higher after floor trading closed
Apr gold ended the session $3.50 lower to $1197.30/oz, while Mar silver fell $0.08 to $16.19/oz.

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

Earlier, we speculated that Janet Yellen's semiannual testimony on monetary policy and the economy could introduce some volatility to the market, but that has not happened considering Ms. Yellen struck a relatively familiar-and dovish-tone. Tomorrow, the Fed Chair will appear before the House Financial Services Committee, but her prepared remarks will not differ from those presented today.

Even though the market has stuck to narrow ranges in recent days, the index is still up 6.0% in February while the Nasdaq Composite has spiked 7.1% so far this month.

2:25 pm: [BRIEFING.COM] Not much change in the market with the S&P 500 (+0.2%) defending a modest gain.

Sector standing has not changed much with financials (+0.5%) trading ahead of the remaining cyclical sectors. Meanwhile, the top-weighted technology space (+0.1%) continues trailing the broader market with shares of Apple (AAPL 132.74, -0.26) contributing the underperformance.

Elsewhere, the energy sector (-0.1%) continues holding a slim loss while crude oil has slipped into the red with the pit close coming up. The energy component is currently lower by 0.3% at $49.34/bbl.

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

While rightfully taking a backseat to today's testimony by Fed Chair Yellen, it should be noted that today's disappointing confidence number continued the run of negative economic surprises.

The Conference Board's Consumer Confidence Index declined to 96.4 in February from an upwardly revised 103.8 (from 102.9) in January. The Briefing.com Consensus expected the Consumer Confidence Index to fall to 99.6.

Consumers are getting awfully picky when examining current economic trends. Even though gasoline prices are down more than $1.50 a gallon since the beginning of last summer, the stock market flirts with new historical highs, and unemployment levels continue to drop, the very slight deterioration of those conditions over the past few weeks has caused consumers to reexamine their outlook on the economy.

This was mostly seen in the Expectations Index, which dropped from 97.0 in January to 87.2 in February. In other words, a $0.30 increase in the price of a gallon of gas caused consumers to backpedal on their economic assessment of the future.

1:30 pm: [BRIEFING.COM] The Dow Jones Industrial Average and S&P 500 have maintained mild gains at this time, while the Nasdaq continues to lag.

Treasuries remain near their session highs (and low in yield), with the 10-yr note now at 1.99%.

In equities, shares in Tesla Motors (TSLA 204.40, -2.94) enjoyed a late day move off session lows after Consumer Reports named the company's Model S the best rated overall car for 2015 for the second year in a row. Elsewhere, shares of Diamond Offshore (DO 30.76, -2.86) are down notably after the company disclosed a contract termination with Petrobras (PBR) in its annual 10-K SEC filing

At the top of the hour, the $26 bln 2-year note drew a high yield of 0.603%, with direct bidders accounting for 13% versus the 12-auction average of 17%. There was strong demand from indirect bidders, though, which had 48% of accepted offers.

12:55 pm: [BRIEFING.COM] The major averages are mixed at midday with the Dow (+0.3%) and S&P 500 (+0.2%) holding slim gains while the Nasdaq Composite (-0.1%) underperforms.

True to their recent form, equity indices have respected narrow ranges through the first half of today's affair. Even Janet Yellen's highly-anticipated testimony before the Senate Banking Committee has not led to noteworthy moves among equities.

During her testimony, Fed Chair Yellen reiterated the intent to remain patient before raising rates due to weak wage growth and low inflation. Furthermore, Ms. Yellen said the central bank will change its forward guidance before changing rates, and that the change to guidance would make the liftoff from the zero-bound possible at any subsequent meeting.

Treasuries rallied in reaction to the comments with bond traders not showing much concern for a rate hike in the near term. The 10-yr note sits on its high with the benchmark yield lower by six basis points at 2.00%. Meanwhile, the Dollar Index (94.49, -0.08) is lower by 0.1% after showing strength earlier this morning.

Seven sectors sport midday gains with rate-sensitive telecom services (+0.5%) and utilities (+0.5%) in the lead. Meanwhile, the financial sector (+0.5%) leads all growth-sensitive groups with JPMorgan Chase (JPM 60.83, +1.48) higher by 2.5%.

The remaining cyclical sectors sport slimmer gains with the discretionary space (+0.2%) receiving support from homebuilders after Toll Brothers (TOL 38.75, +1.65) and Dow component Home Depot (HD 115.96, +3.67) reported better than expected results. The two have jumped 4.5% and 3.3%, respectively, while the Dow Jones US Home Construction ETF (ITB 28.12, +0.61) has added 2.2%.

Elsewhere, the top-weighted technology sector (-0.2%) has struggled to keep pace with the market amid volatile action in the shares of Apple (AAPL 131.83, -1.17). The largest sector component by weight is lower by 0.9%, which has contributed to the underperformance of the Nasdaq Composite.

In addition, the Nasdaq has been pressured by biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 333.47, -4.53) lower by 1.3%. For its part, the health care sector (-0.3%) sits at the bottom of today's leaderboard.

Economic data was limited to Consumer Confidence and the Case-Shiller 20-City Index:

The Conference Board's Consumer Confidence Index declined to 96.4 in February from an upwardly revised 103.8 (from 102.9) while the Briefing.com consensus expected a decline to 99.6
The Case-Shiller 20-city Home Price Index for December rose 4.5% against a 4.3% increase expected by the Briefing.com consensus. This followed the previous month's increase of 4.3%

12:30 pm: [BRIEFING.COM] Not much change in the major averages with the S&P 500 (+0.2%) having spent the past two hours in a two-point range.

Seven of ten sectors trade in the green, but the three laggards-energy (-0.1%), technology (unch), and health care (-0.1%)-will be in focus during afternoon action considering the trio accounts for more than 42.0% of the entire market.

That being said, a few other influential sectors like financials (+0.5%), consumer discretionary (+0.3%), and industrials (+0.1%) hold gains, which has kept the market in the green. The three advancers represent 39.0% of the entire S&P 500.

Elsewhere, Treasuries have jumped to new highs with the 10-yr yield now down five basis points at 2.01%.

12:00 pm: [BRIEFING.COM] The Dow (+0.5%), Nasdaq (+0.1%), and S&P 500 (+0.2%) hover near their best levels of the session while the Russell 2000 (-0.1%) has returned into the red.

Similar to the Russell 2000, the energy sector (-0.2%) has turned negative even though crude oil remains higher by 1.0% at $49.97/bbl. Meanwhile, the other commodity-related sector-materials (+0.4%)-has received support from steelmakers with Market Vectors Steel ETF (SLX 34.52, +0.48) higher by 1.4%.

Elsewhere among cyclical sectors, financials (+0.7%) hold the lead while the top-weighted technology sector (unch) remains a bit behind the broader market.

11:25 am: [BRIEFING.COM] The major averages have added to their gains with the S&P 500 now up 0.3% while the Dow Jones Industrial Average (+0.5%) displays relative strength.

Nine of ten sectors find themselves in the green at this juncture while the health care sector hovers right below its flat line amid continued weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 335.10, -2.90) trades lower by 0.9%.

Meanwhile, another high-beta group-chipmakers-displays relative strength with the PHLX Semiconductor Index trading higher by 0.5%. For its part, the broader technology sector has erased its early loss and now trades higher by 0.1% with Apple (AAPL 133.42, +0.42) up 0.3% after showing relative weakness at the start of the session.

10:55 am: [BRIEFING.COM] The major averages have climbed to new highs as Fed Chair Janet Yellen continues her testimony in front of the Senate Banking Committee. The S&P 500 trades higher by 0.1%. Meanwhile, Treasuries have climbed to highs with the 10-yr yield down two basis points at 2.04%.

During her testimony, Ms. Yellen said that "stock market valuations are somewhat elevated," but the Fed Chair reiterated the intent to remain patient before raising rates due to weak wage growth and low inflation. Furthermore, Ms. Yellen said the central bank will change its forward guidance before changing rates, and that the change to guidance would make a liftoff from the zero-bound possible at any subsequent meeting.

Seven sectors trade in the green at this juncture with utilities (+0.8%) and financials (+0.5%) in the lead.

10:35 am: [BRIEFING.COM]

The dollar index spiked to a new high today following Yellen remarks, which caused gold and silver futures fall to a new lows for today.
Both precious metals spiked minutes ago, gold popped back into positive territory
Apr gold is now -0.1% at $1200/oz, while Mar silver is currently +0.7% at $16.36/oz
Oil prices have been positive territory all morning and ar enow +1.2% at $50.05/barrel
Natural gas prices were in the red overnight, but gained some buying interest in more recent trade and hit a new high for today at $2.91/MMBtu
Apr natural gas is now+0.5% at $2.91/MMBtu
Copper has been showing a solid climb higher and hit a new high for today in recent trade. Mar copper is now +2.7% at $2.66/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades lower by 0.1%.

Just released, the consumer confidence reading for February came in at 96.4, while economists polled by Briefing.com expected the survey to come in at 99.6. This followed the prior month's revised reading of 103.8 (from 102.9).

9:40 am: [BRIEFING.COM] The major averages began the day near their flat lines with the tech-heavy Nasdaq (-0.2%) slumping due to the relative weakness in the technology sector (-0.5%).

The top-weighted tech sector component-Apple (AAPL 1311.36, -1.64)-is lower by 1.2%, and the Nasdaq has also been pressured by biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 336.01, -1.99) is lower by 0.5% while the health care sector (-0.1%) hovers just below its flat line.

On the upside, consumer discretionary (+0.5%) and financials (+0.2%) have shown early strength with the discretionary sector boosted by homebuilders after Toll Brothers (TOL 38.53, +1.43) and Home Depot (HD 116.66, +4.38) reported better than expected results.

Treasuries remain near their lows with the 10-yr yield higher by two basis points at 2.07%.

The Consumer Confidence report for February (Briefing.com consensus 99.6) will be released at 10:00 ET.

9:13 am: [BRIEFING.COM] S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: -7.30. The stock market is on track for a flat open as futures on the S&P 500 trade within a point of fair value. In fact, futures maintained narrow ranges throughout the night with participants sticking to the sidelines ahead of Fed Chair Janet Yellen's testimony before the Senate Banking Committee. Ms. Yellen is scheduled to begin at 10:00 ET and her prepared remarks will be also be released at that time.

Investors will pay close attention to Ms. Yellen's remarks, hoping to identify clues about the timing of the first rate hike after the latest FOMC minutes showed waning support for raising rates halfway through the year.

Treasuries hold modest losses with the 10-yr yield higher by two basis points at 2.08%.

On the corporate front, First Solar (FSLR 57.33, +7.69) is higher by 15.5% in pre-market after announcing plans to form a joint venture with SunPower (SPWR 32.25, +4.45). Elsewhere, Home Depot (HD 116.87, +4.59) is on track to open higher by 4.1% after better than expected results and an annualized dividend boost to $2.36/share overshadowed below-consensus guidance.

The Consumer Confidence report for February (Briefing.com consensus 99.6) will be released at 10:00 ET.

9:00 am: [BRIEFING.COM] S&P futures vs fair value: -0.10. Nasdaq futures vs fair value: -5.00. The S&P 500 futures trade within a point of fair value.

The Case-Shiller 20-city Home Price Index for December rose 4.5% against a 4.3% increase expected by the Briefing.com consensus. This followed the previous month's increase of 4.3%.

8:28 am: [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -6.30. The S&P 500 futures trade within a point of fair value.

Asian markets, with the exception of China, were up and running again following an extended shutdown for many due to the Lunar/Chinese New Year celebration. Most played catch up and enjoyed modest gains. Japan's Nikkei continued its winning streak and extended its breakout to a 15-year high.

Economic data was limited:
Japan's Corporate Services Price Index rose 3.4% year-over-year (expected 3.6%; previous 3.5%)
New Zealand's Inflation Expectations slowed to 1.8% quarter-over-quarter from 2.1%

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Japan's Nikkei increased 0.7%, extending its breakout to a new 15-year high and logging its fifth straight gain with the added help of a weaker yen. Tuesday's move higher saw participation from every sector with the communications (+1.4%) and consumer cyclical (+1.0%) sectors setting the pace. Leading percentage movers included Asahi Glass (+4.4%), TOTO Ltd. (+4.3%), Nippon Sheet Glass Co. (+4.3%), and Taiheiyo Cement Co. (+4.2%).
Hong Kong's Hang Seng dropped 0.4%, pressured by weakness in the consumer cyclical (-1.7%) and financial (-0.4%) sectors. HSBC Holdings (-3.5%) was the biggest decliner after reporting a larger than expected 17% drop in its full-year profit. Galaxy Entertainment (-2.7%) and Sands China (-2.7%) were other notable losers in Tuesday's trading.
China's Shanghai Composite was closed in observance of Lunar New Year
India's Sensex scored a small 0.1% gain, helped by relative strength in its consumer cyclical (+0.4%) and technology (+0.3%) sectors. Hindustan Unilever (+3.1%), Larsen & Toubro Ltd (+2.1%), and Bharat Heavy Electricals Ltd. (+1.9%) were top gainers in the Sensex Index.

Major European indices trade mixed with Spain's IBEX (+0.5%) outperforming the region. Elsewhere, the Athens General Index is higher by 8.0% in reaction to troika's acceptance of the list of planned reforms presented by Finance Minister Yanis Varoufakis; however, the parties are not out of the woods just yet with Eurogroup chief Jeroen Dijsselbloem saying the list represents "the first step" in what is setting up to be a lengthy process.

In economic data:
Eurozone CPI fell 1.6% month-over-month while the year-over-year reading declined 0.6%. Separately, Core CPI rose 0.6% year-over-year. All three figures matched expectations
Germany's Q4 GDP was left unrevised at 0.7% quarter-over-quarter, as expected, while the year-over-year reading held at 1.6% (consensus 1.5%)
French Business Survey ticked down to 99 from 100, as expected

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In France, the CAC is lower by 0.1% with defense contractors leading the retreat. Airbus and Safran hold respective losses of 2.0% and 1.1%. Consumer names outperform with Essilor International, Danone, and Kering up between 0.3% and 1.4%.
Germany's DAX trades down 0.1% with exporters on the defensive. BMW, Daimler, and Volkswagen are down between 0.6% and 1.1%. Utilities outperform with E.On and RWE higher by 2.8% and 2.7%, respectively.
UK's FTSE is higher by 0.2% amid strength in mining names. BHP Billiton, Glencore, and Antofagasta are up between 1.2% and 4.7% after BHP reported better than expected results.
Spain's IBEX trades up 0.5% with financials Banco Popular, Caixabank, and Bankinter showing gains between 0.7% and 2.5%.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -0.60. Nasdaq futures vs fair value: -6.80. U.S. equity futures trade little changed following another quiet night that saw S&P 500 futures trade within a three-point range.

Overnight, the troika accepted the list of planned reforms presented by Greece's Finance Minister Yanis Varoufakis, but Eurogroup chief Jeroen Dijsselbloem said the list represents "the first step" in what is setting up to be a lengthy process.

Meanwhile in the U.S., Fed Chair Janet Yellen will begin her two-day testimony on monetary policy with an appearance before the Senate Banking Committee, which will begin at 10:00 ET.

Treasuries hold modest losses with the 10-yr yield higher by a basis point at 2.07%.

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).

In U.S. corporate news of note:

Comcast (CMCSA 58.00, -0.21): -0.4% after reporting a one-cent miss, boosting its annualized dividend to $1.00/share, and raising its buyback to $10 billion.
Home Depot (HD 116.56, +4.28): +3.8% after better than expected results and an annualized dividend boost to $2.36/share overshadowed below-consensus guidance.
Toll Brothers (TOL 38.72, +1.62): +4.4% after beating earnings and revenue estimates.

Reviewing overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng -0.4%, Japan's Nikkei +0.7%, and China's Shanghai Composite remained closed for Lunar New Year
Economic data was limited:
Japan's Corporate Services Price Index rose 3.4% year-over-year (expected 3.6%; previous 3.5%)
New Zealand's Inflation Expectations slowed to 1.8% quarter-over-quarter from 2.1%
In news:
Japan's Nikkei posted its fifth consecutive gain, extending to a fresh 15-year high
According to Nikkei, Japan's Prime Minister Shinzo Abe and Bank of Japan Governor Haruhiko Kuroda are at odds with regards to the timing of the next sales tax hike with the BoJ head cautioning against raising the tax in 2017

Major European indices trade mixed. UK's FTSE +0.2%, France's CAC -0.1%, and Germany's DAX is flat. Elsewhere, Italy's MIB +0.3% and Spain's IBEX +0.4%
In economic data:
Eurozone CPI fell 1.6% month-over-month while the year-over-year reading declined 0.6%. Separately, Core CPI rose 0.6% year-over-year. All three figures matched expectations
Germany's Q4 GDP was left unrevised at 0.7% quarter-over-quarter, as expected, while the year-over-year reading held at 1.6% (consensus 1.5%)
French Business Survey ticked down to 99 from 100, as expected
Among news of note:
Greek equities spiked in reaction to troika's acceptance of the list of planned reforms presented by Finance Minister Yanis Varoufakis. The Athens General Index is higher by 8.0%

7:10 am: [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: -3.00.

7:10 am: [BRIEFING.COM] Nikkei...18,603.48...+136.60...+0.70%. Hang Seng...24,750.07...-86.70...-0.40%.

7:10 am: [BRIEFING.COM] FTSE...6,921.52...+9.40...+0.10%. DAX...11,129.35...-1.70...0.00.

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
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