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 Post subject: February 26th Thursday Trade Results - Profit $1080.00
PostPosted: Fri Feb 27, 2015 2:30 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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 @ $1,080.00 dollars or +10.80 points, Emini ES ($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 @ $1,080.00 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=2014

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 range-bound session on Thursday with the S&P 500 shedding 0.2% after respecting a seven-point range. The benchmark index will enter the Friday session flat for the week while the Nasdaq Composite (+0.4%) outperformed to extend its weekly gain to 0.6%.

The Dow (-0.1%) and S&P 500 began the day under pressure due to noteworthy weakness in the energy sector (-1.8%). Meanwhile, most other cyclical groups also began in the red while technology (+0.7%) outperformed throughout the day and kept the Nasdaq in the green.

The top-weighted technology sector received support from some of its largest components by weight like Apple (AAPL 130.42, +1.62), Google (GOOGL 559.29, +11.96), and Facebook (FB 80.41, +0.85). The three names gained between 1.1% and 2.2% with Apple climbing into the green after announcing a press event on March 9 where the company is expected to launch its wristwatch.

In addition, the tech sector-and Nasdaq Composite-drew strength from several chipmakers after Avago Technologies (AVGO 129.25, +16.57) beat earnings estimates, issued upbeat revenue guidance, and announced the acquisition of Emulex (ELX 7.93, +1.57) for $8.00/share. The broader PHLX Semiconductor Index added 0.7%, but only a third of its components registered gains.

Elsewhere among cyclical sectors, energy narrowed its February advance to 3.9% as crude oil revisited levels last seen at the start of the month. WTI crude tumbled, settling lower by 5.3% at $48.29/bbl, but inched up from that level during electronic trading. It is worth pointing out that today's crude weakness occurred amid notable greenback strength that sent the Dollar Index (95.30, +1.08) higher by 1.1% and into the neighborhood of its January high (95.85).

Also of note, the consumer discretionary sector (-0.4%) finished among the laggards with media names like Comcast (CMCSA 59.15, -0.47) and Time Warner Cable (TWC 152.40, -2.22) ending lower by 0.8% and 1.4%, respectively, after the FCC approved net neutrality rules with a 3-2 vote, which was expected.

Over on the countercyclical side, the telecom services sector (+0.5%) outperformed throughout the session while consumer staples (+0.1%) and health care (+0.3%) posted slimmer gains. For its part, the utilities sector (-0.8%) widened its February decline to 6.9% as Treasuries retreated.

The 10-yr note turned negative in the morning and continued its slide into the afternoon, pushing the benchmark yield higher by seven basis points to 2.04%.

Participation remained light with roughly 700 million shares changing hands at the NYSE floor.

Economic data included Initial Claims, CPI, Durable Orders, and FHFA Housing Price Index:

The initial claims level increased to 313,000 from an upwardly revised 282,000 (from 281,000) while the Briefing.com consensus expected an increase to 290,000
The Department of Labor reported that there weren't any special factors impacting the initial claims level
The CPI index declined 0.7% in January after declining an upwardly revised 0.3% (from 0.4%) in December while the Briefing.com consensus expected a decline of 0.6%
As expected, a large drop in gasoline prices was the primary catalyst for the decline in consumer prices. Gasoline costs fell 18.7% in January after declining 9.2% in December. The resulting gasoline decline caused overall energy prices to fall 9.7% in January
Excluding food and energy, core CPI increased 0.2% in January after increasing 0.1% in December while the consensus expected an increase of 0.1%
Durable goods orders increased 2.8% in January after declining a downwardly revised 3.7% (from 3.3%) in December while the Briefing.com consensus expected an increase of 1.7%
Almost the entire increase in orders can be attributed to seasonal adjustments in the aircraft industry. Even though Boeing reported a large decline in January aircraft orders on both a monthly and yearly basis, the Census Bureau showed a 73.7% increase in orders of defense and nondefense aircraft and parts
Excluding aircraft, durable goods orders increased a much more modest 0.3% in January after declining 0.9% in December while the consensus expected an increase of 0.5%
The FHFA Housing Price Index for December rose 0.8%, which followed a revised increase of 0.7% (from 0.8%) in November

Tomorrow, the second estimate of Q4 GDP (Briefing.com consensus 2.1%) will be released at 8:30 ET while the Chicago PMI for February (consensus 58.0) will cross the wires at 9:45 ET. The day's data will be topped off with the 10:00 ET release of the final Michigan Sentiment Index for February (consensus 93.8) and the January Pending Home Sales report (expected 2.2%).

Nasdaq Composite +5.3% YTD
Russell 2000 +2.9% YTD
S&P 500 +2.5% YTD
Dow Jones Industrial Average +2.2% YTD

3:40 pm: [BRIEFING.COM]

The dollar index showed some strength, but this didn't matter much for some commodities
The index closed near today's highs, but even though there was a pullback, metals closed with gains
Apr gold rose $8.60 to $1210.10/oz, while Mar silver gained $0.16 to $16.59/oz
WTI crude oil prices were weak today... Apr crude closed $2.72 lower at $48.29/barrel
Apr nat gas fell $0.16 to $2.69/MMBtu

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.3% with one hour remaining in the Thursday session. The benchmark index has returned to its opening low amid continued weakness in most cyclical sectors. Energy (-2.1%) has traded well behind the broader market since the opening bell while financials (-0.5%), industrials (-0.6%), and consumer discretionary (-0.5%) have marked fresh lows in recent action.

Given its current level, the benchmark index is on track to enter the final session of the week with a slim loss of 0.1% while the Dow and Nasdaq have been able to add 0.3% and 0.4%, respectively.

Also of note, the Dollar Index (95.28, +1.07) remains higher by 1.1%, which puts the index in position for a run at its January high in the 95.85 area.

2:25 pm: [BRIEFING.COM] Recent action saw the S&P 500 (-0.2%) surrender a couple points in a move that coincided with additional weakness in the energy sector. The growth-sensitive group is now lower by 2.0% while crude oil has tumbled to a fresh low just ahead of the pit close. WTI crude trades down 5.5% at $48.17/bbl, which puts the energy component at levels last seen at the start of the month.

Meanwhile, the energy sector has narrowed its February advance to 1.9%, but the group remains lower by 1.5% so far in the first quarter.

Elsewhere, Treasuries sit near their lows with the 10-yr yield higher by three basis points at 2.00%.

1:55 pm: [BRIEFING.COM] Equity indices continue hovering near their recent levels.

Today's economic data were mixed.

Durable goods orders increased 2.8% in January after declining a downwardly revised 3.7% (from 3.3%) in December. The Briefing.com Consensus expected durable goods orders to increase 1.7%.

Much of the increase in orders -- along with the entire upside surprise -- can be attributed to seasonal adjustments in the aircraft industry. Excluding transportation, orders increased only 0.3%, which was below the consensus forecast of a 0.5% gain.

The CPI index declined 0.7% in January after declining an upwardly revised 0.3% (from 0.4%) in December. The Briefing.com Consensus expected the CPI to decline 0.6%.

Headline year-over-year CPI growth turned negative in January for the first time since October 2009.

The initial claims level increased to 313,000 for the week ending February 21 from an upwardly revised 282,000 (from 281,000) for the week ending February 14. The Briefing.com Consensus expected the initial claims level to increase to 290,000.

There have been several anecdotal reports from the energy sector that mass layoffs are coming in the near future. So far, those layoffs have not shown up in the level of initial claims.

1:35 pm: [BRIEFING.COM] The major U.S. indices remain mixed, with the Nasdaq continuing to outperform in today's session

In equities, names in the 3D printing space are outperforming despite earnings from 3D Systems (DDD 30.93, +0.91) that missed expectations, and FY15 guidance that was effectively in-line with estimates. Shares in the industry have not fared well in the last twelve months, with names like Stratasys (SSYS 62.07, +0.88)down 51% in the last year, after trading above $120 per share at this time in 2014.

At the top of the hour, the FCC approved net neutrality rules, in a 3-2 vote, as expected. Several companies that could be hurt by the widely anticipated decision include Comcast (CMCSA), Time Warner (TWC), Verizon (VZ), and Charter (CHTR), which was quick to criticize today's move, claiming it will increase fees to customer bills and create regulatory uncertainty going forward.

Also at the top of the hour, the $29 bln 7-year note auction drew a high yield of 1.834%, with a bid-to-cover of 2.37. The auction saw lower than normal interest from direct bidders, who accounted for just 10.5% of the offering, vs. the 12-auction prior average of 17.6%. On the other hand, the auction enjoyed strong interest from indirect bidders, accounting for 52.3% of the auction, vs. the average of 47.3% over the last 12 offerings

12:55 pm: [BRIEFING.COM] The major averages hover near their flat lines at midday with the Dow (-0.1%) and S&P 500 (-0.1%) showing modest losses while the Nasdaq Composite (+0.4%) has displayed relative strength since the opening bell.

Once again, equity indices have stuck to narrow ranges, but it is worth noting the market has made big strides in February with the S&P 500 on course to end the month higher by 5.9% versus a 7.5% spike for the Nasdaq.

Today, however, the benchmark index has been held back from climbing into the green by a 1.5% decline in the energy sector. Fittingly, that weakness can be traced back to the oil market, where WTI crude is lower by 3.5% at $49.21/bbl. Conversely, the Dollar Index (95.27, +1.07) is higher by 1.1% as it looks to overtake its January high at 95.85.

Meanwhile, most of the remaining cyclical sectors also hover in the red with losses close to 0.3% apiece while the top-weighted technology sector (+0.7%) outperforms. Large cap components like Apple (AAPL 130.00, +1.21), Cisco Systems (CSCO 29.94, +0.45), and Google (GOOGL 557.98, +10.65) hold gains between 1.0% and 1.9% while high-beta social media names like Facebook (FB 80.88, +1.32) and LinkedIn (LNKD 272.91, +3.91) also outperform.

On the earnings front, Avago Technologies (AVGO 127.57, +14.90) has surged 13.2% after issuing upbeat revenue guidance and announcing the acquisition of Emulex (ELX 7.98, +1.62) for $8.00/share. The broader PHLX Semiconductor Index has advanced 0.6%, which has been a supportive factor for the Nasdaq Composite.

Elsewhere, countercyclical sectors have had a better showing today than their growth-sensitive counterparts. Consumer staples (+0.1%), health care (+0.2%), and telecom services (+0.6%) trade ahead of the broader market while the utilities sector (-0.7%) has widened its February decline to 6.8%.

Treasuries sit near their lows with the 10-yr yield higher by two basis points at 1.99%.

Economic data included Initial Claims, CPI, Durable Orders, and FHFA Housing Price Index:

The initial claims level increased to 313,000 from an upwardly revised 282,000 (from 281,000) while the Briefing.com consensus expected an increase to 290,000
The Department of Labor reported that there weren't any special factors impacting the initial claims level
The CPI index declined 0.7% in January after declining an upwardly revised 0.3% (from 0.4%) in December while the Briefing.com consensus expected a decline of 0.6%
As expected, a large drop in gasoline prices was the primary catalyst for the decline in consumer prices. Gasoline costs fell 18.7% in January after declining 9.2% in December. The resulting gasoline decline caused overall energy prices to fall 9.7% in January
Excluding food and energy, core CPI increased 0.2% in January after increasing 0.1% in December while the consensus expected an increase of 0.1%
Durable goods orders increased 2.8% in January after declining a downwardly revised 3.7% (from 3.3%) in December while the Briefing.com consensus expected an increase of 1.7%
Almost the entire increase in orders can be attributed to seasonal adjustments in the aircraft industry. Even though Boeing reported a large decline in January aircraft orders on both a monthly and yearly basis, the Census Bureau showed a 73.7% increase in orders of defense and nondefense aircraft and parts
Excluding aircraft, durable goods orders increased a much more modest 0.3% in January after declining 0.9% in December while the consensus expected an increase of 0.5%
The FHFA Housing Price Index for December rose 0.8%, which followed a revised increase of 0.7% (from 0.8%) in November

12:25 pm: [BRIEFING.COM] Recent action saw the S&P 500 (-0.2%) back away from its flat line while the Nasdaq (+0.2%) remains in the green.

Generally speaking, countercyclical sectors have had a better showing today than their growth-sensitive counterparts. Consumer staples (unch), health care (+0.4%), and telecom services (+0.4%) hover in the green while the utilities sector (-0.6%) has widened its February decline to 6.7%.

Meanwhile on the cyclical side, the top-weighted technology sector (+0.4%) is the only advancer while the other five groups sport losses. Notably, the energy sector is lower by 1.6% while crude oil trades down 3.2% at $49.36/bbl.

11:55 am: [BRIEFING.COM] Equity indices continue drifting near their recent levels with the S&P 500 hovering near the top of today's eight-point range.

Today's range-bound action fits right in with recent sessions; however, that masks the fact that the S&P 500 has spiked 5.9% in February while the Nasdaq has surged 7.5% since the end of January. The strong February gains have helped the major averages erase their January losses and turn positive for the year. The S&P 500 and Nasdaq hold respective quarter-to-date gains of 2.6% and 5.2% while the Dow Jones Industrial Average has climbed 2.2% since the end of 2014.

Elsewhere, Treasuries continue holding slim losses after sliding from their early morning highs. The 10-yr yield is higher by a basis point at 1.98%.

11:25 am: [BRIEFING.COM] The Nasdaq Composite (+0.3%) has continued its slow advance while the Dow and S&P 500 remain near their respective flat lines.

In our previous update, we pointed out the biotechnology group, which traded among the laggards. However, the iShares Nasdaq Biotechnology ETF (IBB 339.87, +0.42) has turned positive and now trades higher by 0.1%. The turnaround in biotechnology has helped the Nasdaq continue its climb.

Elsewhere, the technology sector has extended its advance to 0.5% with social media names like Facebook (FB 81.35, +1.79), LinkedIn (LNKD 275.00, +6.00), and Yelp (YELP 48.68, +1.53) up between 2.2% and 3.2%.

10:55 am: [BRIEFING.COM] Equity indices continue trading in mixed fashion with the Dow (-0.1%) and S&P 500 (-0.1%) holding slim losses while the Nasdaq Composite (+0.2%) trades in the green thanks to the outperformance of the technology sector.

The tech sector (+0.4%) is the only cyclical group trading in the green while the remaining growth-sensitive sectors display losses between 0.1% (consumer discretionary) and 1.6% (energy). The largest tech sector component-Apple (AAPL 127.67, -1.12)-is lower by 0.9%, but high-beta chipmakers have offset some of that weakness, evidenced by a 0.8% gain in the PHLX Semiconductor Index.

Semiconductor names have contributed to the outperformance of the Nasdaq while another high-beta group-biotechnology-underperforms. The iShares Nasdaq Biotechnology ETF (IBB 338.85, -0.60) is lower by 0.2% while the health care sector (+0.1%) has returned into positive territory not long ago.

10:40 am: [BRIEFING.COM]

Strength in the dollar index, which is over 1% higher and near its HoD, is weighing on some commodities today
Both WTI crude oil and natural gas futures just hit a new LoD
Apr natural gas just fell to a new low for today at $2.73/MMBtu following EIA storage data and is now -4% at $2.75/MMBtu
Precious metals are pulling back
Apr crude continues to extend losses and is now -3.3% at $49.30/barrel
Apr gold is +0.6% at $1208.10/oz, Mar silver is +0.8% at $16.56/oz

9:55 am: [BRIEFING.COM] The S&P 500 (-0.2%) remains below its flat line while the Nasdaq Composite continues showing a slim gain.

Chipmakers have contributed to the early strength of the tech-heavy index after Avago Technologies (AVGO 126.88, +14.28) beat bottom-line estimates, issued upbeat revenue guidance, and announced the acquisition of Emulex (ELX 8.00, +1.64) for $8.00/share. Shares of AVGO have jumped 13.0% while the PHLX Semiconductor Index is higher by 0.5%. For its part, the broader technology sector (+0.3%) is the only cyclical group trading in the green at this time.

Elsewhere, Treasuries remain near their lows with the 10-yr yield at 1.98% (-1 bps).

9:40 am: [BRIEFING.COM] Equity indices began the day near their flat lines. The Nasdaq Composite hovers just above its flat line while the S&P 500 (-0.1%) holds a modest loss.

Seven of ten sectors began the day in negative territory with energy (-1.1%) pressuring the overall market due to a 2.6% decline in crude oil. The energy component trades near $49.63/bbl. with dollar strength contributing to the sharp decline. To that point, the Dollar Index (95.00, +0.79) is higher by 0.8% as it nears the January high of 95.85.

On the upside, health care (+0.2%) and technology (+0.3%) sport slim gains.

Treasuries are on their lows with the 10-yr yield higher by two basis points at 1.99%.

9:17 am: [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: +2.50. The stock market is on track for a modestly lower open as futures on the S&P 500 trade three points below fair value. Once again, futures traded inside narrow ranges overnight before dropping to fresh lows within the past 45 minutes. The retreat took place after the release of today's batch of data that included initial claims (313K; Briefing.com consensus 290K), CPI (-0.7%; consensus -0.6%), Core CPI (0.2%; consensus 0.1%), Durable Orders (2.8%; consensus 1.7%), and Durable Orders ex-transportation (0.3%; consensus 0.5%).

Also of note, the Bureau of Labor Statistics released its Real Earnings report, which showed a 1.2% increase in January, representing the largest spike in five years.

Meanwhile, Treasuries tumbled from their highs following the data, sending the 10-yr yield back to unchanged at 1.97%.

On the corporate front, Kohl's (KSS 70.30, -0.60) is on track to open lower by 0.9% despite reporting a bottom-line beat and boosting its quarterly dividend by 15% to $0.45/share.

9:02 am: [BRIEFING.COM] S&P futures vs fair value: -2.70. Nasdaq futures vs fair value: +2.00. The S&P 500 futures trade three points below fair value.

The FHFA Housing Price Index for December rose 0.8%, which followed a revised increase of 0.7% (from 0.8%) in November.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: +1.70. The S&P 500 futures trade two points below fair value.

Trading activity in the Asia-Pacific region was mixed on Thursday, yet notable gains were posted by some of the more notable averages, namely the Nikkei (+1.1%), which powered to another 15-year high, and the Shanghai Composite (+2.2%).

In news, the People's Bank of China has allowed five major banks to lower their reserve requirement ratios by 50 basis points, which is expected to inject about CNY100 billion into the financial system.

In economic data:
Hong Kong's trade deficit narrowed to HKD37.00 billion from HKD59.30 billion (expected deficit of HKD31.80 billion) as imports increased 7.9% month-over-month (consensus 4.0%; prior 1.9%) while exports rose 2.8% (expected 2.2%; last 0.6%)
Singapore's Industrial Production fell 4.7% month-over-month (expected -2.4%; prior 2.4%) while the year-over-year reading increased 0.9% (consensus 3.7%; last -1.9%)
Australia's Private New Capital Expenditure fell 2.2% quarter-over-quarter (expected -1.9%; prior 0.6%)
New Zealand swung from a trade deficit of NZD195 million to a surplus of NZD56 million (expected deficit of NZD183 million)

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Japan's Nikkei jumped 1.1% to a new 15-year high in a broad-based advance. Every sector ended higher, led by strength in the communications (+1.9%), financial (+1.6%), basic materials (+1.4%), and consumer cyclical (+1.3%) groups. Kawasaki Kisen Kaisha (+4.7%) was the biggest individual gainer, followed by Sompo Japan Nipponkoa (+4.6%), MS & AD Insurance Group (+3.8%) and Yahoo Japan (+3.7%). Separately, it was announced that the appointment of Yutaka Harada to the Bank of Japan's policy board was approved. Harada is known to be in favor of the bank's reflation policies.
Hong Kong's Hang Seng increased 0.5% on the back of strength in financial and energy stocks. Leading gainers included China Shenhua Energy (+2.8%), CNOOC (+2.4%), PetroChina (+2.0%), and China Overseas Land & Investment Ltd. (+1.7%). Gaming stocks remained weak on Macau visitation concerns. Sands China (-3.1%) was the biggest individual decliner in the Hang Seng on Thursday.
China's Shanghai Composite surged 2.2%, closing at its highs for the session. Financial and property stocks powered the advance. Jinling Hotel Corp., Sundy Land Investment Co., China Molybdenum, China Railway Erju Co., and Sinolink Securities all rose 10.0%.

Major European indices trade mostly higher with Italy's MIB (+0.7%) in the lead. European bonds have continued their rally, sending yields to new record lows. Germany's 10-yr bund yield is lower by four basis points at 0.24%.

Economic data was plentiful:
Eurozone Business and Consumer Survey rose to 102.1 from 101.4 (expected 101.9). Separately, M3 Money Supply Expanded 4.1% year-over-year (consensus 3.7%; prior 3.6%), but Private Sector Loans declined 0.1% year-over-year (expected -0.3%; prior -0.5%)
Germany's Unemployment declined by 20,000 (expected -10,000; last -10,000) while the Unemployment Rate held steady at 6.5%, as expected. Separately, GfK Consumer Climate rose to 9.7 from 9.3 (consensus 9.5)
UK's Q4 GDP rose 0.5% quarter-over-quarter while the year-over-year reading increased 2.7%. Both figures matched expectations. Separately, Index of Services increased 0.8% (consensus 0.7%; prior 0.7%) while Business Investment fell 1.4% quarter-over-quarter (consensus 1.9%; last -1.2%)
Italy's Business Confidence rose to 99.1 from 97.6 (expected 98.0) while Consumer Confidence jumped to 110.9 from 104.4 (consensus 104.5). Separately, Retail Sales ticked down 0.2% month-over-month (expected 0.3%; last 0.1%)
Spain's Business Confidence ticked up to -4.8 from -5.4 (expected -5.0) while Q4 GDP was left unrevised at 0.7% quarter-over-quarter

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UK's FTSE is lower by 0.2% with discretionary names under pressure. Reed Elsevier, Capita, and Sky are down between 1.1% and 4.6%. Miners outperform with Antofagasta, Anglo American, Glencore, and Rio Tinto up between 1.5% and 2.8%.
In France, the CAC is little changed. Consumer names also lag with Pernod Ricard, L'Oreal, and Accor showing losses between 0.2% and 1.3%. Financials BNP Paribas and Societe Generale outperform with respective gains of 1.0% and 1.7%.
Germany's DAX trades higher by 0.3% with Bayer in the lead. The drugmaker has jumped 3.9% in reaction to its upbeat guidance. Financials also display strength with Commerzbank and Deutsche Bank higher by 1.9% and 1.2%, respectively.
Italy's MIB trades up 0.7% amid strength in financials. Banca di Milano Scarl, BMPS, and Intesa Sanpaolo hold gains between 2.1% and 2.9%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: +0.20. Nasdaq futures vs fair value: +3.20. The S&P 500 futures trade within a point of fair value.

The latest weekly initial jobless claims count totaled 313,000 while the Briefing.com consensus expected a reading of 290,000. Today's tally was above the revised prior week count of 282,000 (from 283,000). As for continuing claims, they fell to 2.401 million from 2.422 million.

Total CPI fell 0.7% (Briefing.com consensus -0.6%) in January while Core CPI, which excludes food and energy, rose 0.2% (Briefing.com consensus +0.1%). On a year-over-year basis, total CPI is down 0.1% and core CPI is up 1.6%.

January durable goods orders rose 2.8%, which was better than the 1.7% increase expected among economists polled by Briefing.com. This comes after the prior month's revised reading reflected a decrease of 3.7% (from -3.3%). Excluding transportation, durable orders increased 0.3% (consensus 0.5%) to follow the prior month's revised decrease of 0.9% (from -0.8%).

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +2.50. U.S. equity futures trade little changed amid upbeat action overseas. The S&P 500 futures hover just above fair value following another quiet night that saw S&P futures trade within a five-point range.

Today's economic data will include several reports with weekly Initial Claims (Briefing.com consensus 290K), January CPI (consensus -0.6%), and Durable Orders for January (expected 1.7%) set to be released at 8:30 ET while the December FHFA Housing Price Index will be reported at 9:00 ET.

Treasuries hold modest gains with the 10-yr yield down almost two basis points at 1.95%.

In U.S. corporate news of note:

Avago Technologies (AVGO 118.75, +6.07): +5.4% after beating bottom-line estimates, issuing upbeat revenue guidance, and announcing the acquisition of Emulex (ELX 8.00, +1.64) for $8.00/share.
Gogo (GOGO 19.00, +1.51): +8.6% after beating estimates and guiding higher.
Transocean (RIG 16.74, +0.70): +4.4% after beating earnings and revenue estimates.
Kohl's (KSS 72.46, +1.56): +2.2% in reaction to its bottom-line beat and a 15% quarterly dividend boost to $0.45/share.

Reviewing overnight developments:

Asian markets ended mixed, but Japan's Nikkei (+1.1%), Hong Kong's Hang Seng (+0.5%), and China's Shanghai Composite (+2.2%) posted gains
In economic data:
Hong Kong's trade deficit narrowed to HKD37.00 billion from HKD59.30 billion (expected deficit of HKD31.80 billion) as imports increased 7.9% month-over-month (consensus 4.0%; prior 1.9%) while exports rose 2.8% (expected 2.2%; last 0.6%)
Singapore's Industrial Production fell 4.7% month-over-month (expected -2.4%; prior 2.4%) while the year-over-year reading increased 0.9% (consensus 3.7%; last -1.9%)
Australia's Private New Capital Expenditure fell 2.2% quarter-over-quarter (expected -1.9%; prior 0.6%)
New Zealand swung from a trade deficit of NZD195 million to a surplus of NZD56 million (expected deficit of NZD183 million)
In news:
The People's Bank of China has allowed five major banks to lower their reserve requirement ratios by 50 basis points, which is expected to inject about CNY100 billion into the financial system.

Major European indices trade mostly higher. Germany's DAX +0.3%, France's CAC +0.1%, and UK's FTSE -0.1%. Elsewhere, Spain's IBEX +0.4% and Italy's MIB +0.7%
Economic data was plentiful:
Eurozone Business and Consumer Survey rose to 102.1 from 101.4 (expected 101.9). Separately, M3 Money Supply Expanded 4.1% year-over-year (consensus 3.7%; prior 3.6%), but Private Sector Loans declined 0.1% year-over-year (expected -0.3%; prior -0.5%)
Germany's Unemployment declined by 20,000 (expected -10,000; last -10,000) while the Unemployment Rate held steady at 6.5%, as expected. Separately, GfK Consumer Climate rose to 9.7 from 9.3 (consensus 9.5)
UK's Q4 GDP rose 0.5% quarter-over-quarter while the year-over-year reading increased 2.7%. Both figures matched expectations. Separately, Index of Services increased 0.8% (consensus 0.7%; prior 0.7%) while Business Investment fell 1.4% quarter-over-quarter (consensus 1.9%; last -1.2%)
Italy's Business Confidence rose to 99.1 from 97.6 (expected 98.0) while Consumer Confidence jumped to 110.9 from 104.4 (consensus 104.5). Separately, Retail Sales ticked down 0.2% month-over-month (expected 0.3%; last 0.1%)
Spain's Business Confidence ticked up to -4.8 from -5.4 (expected -5.0) while Q4 GDP was left unrevised at 0.7% quarter-over-quarter
Among news of note:
European bonds have continued their rally, sending yields to new record lows. Germany's 10-yr bund yield is lower by four basis points at 0.24%.

6:50 am: [BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +6.80.

6:50 am: [BRIEFING.COM] Nikkei...18785.79...+200.60...+1.10%. Hang Seng...24902.06...+123.50...+0.50%.

6:50 am: [BRIEFING.COM] FTSE...6938.34...+3.00...0.00. DAX...11240.74...+30.50...+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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