TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 11:43 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: March 2nd Monday Trade Results - Profit $3660.00
PostPosted: Tue Mar 03, 2015 8:25 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
030215-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3660.00.png
030215-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3660.00.png [ 88.1 KiB | Viewed 301 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $3,660.00 dollars or +36.60 points, Emini ES ($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 @ $3,660.00 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=141&t=2018

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=259&t=2687

-----------------------------

Market Context Summaries

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

Attachment:
030215-Key-Price-Action-Markets.png
030215-Key-Price-Action-Markets.png [ 983.86 KiB | Viewed 298 times ]

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


4:20 pm: [BRIEFING.COM] The first trading day of March was a good day for the stock market and a lousy day for the Treasury market. The former rallied, featuring a return above 5,000 for the Nasdaq Composite and new record closes for both the Dow Jones Industrial Average and S&P 500. The latter, meanwhile, languished and perhaps breathed some added life into the stock market on rebalancing efforts.

To be fair, both the stock and bond markets had reason to advance today. The People's Bank of China cut its key lending rate by 25 basis points to 5.35% and each piece of economic data out of the U.S. today fell short of consensus estimates.

Personal income rose 0.3% in January (Briefing.com consensus +0.4%) while personal spending declined 0.2% (Briefing.com consensus -0.1%).
Core PCE prices increased just 0.1% (Briefing.com consensus +0.2%) and are up just 1.3% year-over-year (total PCE prices are up only 0.2% year-over-year, well below the Fed's 2.0% inflation target).
The February ISM Index slid to a 13-month low of 52.9 (Briefing.com consensus 53.0) from 53.5
Construction spending declined 1.1% in January (Briefing.com consensus +0.2%) after an upwardly revised 0.8% increase (from +0.4%) in December

The Treasury market basically turned a blind eye to the weakish data and sold off, having a fit that continued all day long and persisted after the cash settlement. The yield on the benchmark 10-yr note jumped eight basis points to 2.08%, which was its high yield for the cash session, but touched 2.09% in late trading.

While the rout in the Treasury market was unfolding, a rally in the stock market was playing out, suggesting perhaps that a rotational move out of Treasuries and into stocks was helping to support things. Whatever the case might have been, there was some seemingly equal and opposite action in stocks and Treasuries today.

The stock market didn't necessarily need that rotational trade to do well. It had identifiable catalysts in the rate cut out of China, the association that the first trading day of a new month often sees new inflows, and a spate of M&A activity that was highlighted by NXP Semiconductor's (NXPI 99.59, +14.69) $11.8 billion cash-and-stock offer to acquire Freescale Semiconductor (FSL 40.36, +4.25). Other notable deals included Hewlett-Packard (HPQ 34.92, +0.08) buying Aruba Networks (ARUN 24.61, -0.20) for $2.7 billion in cash, as previously rumored, and Cardinal Health (CAH 89.52, +1.53) acquiring Cordis from Johnson & Johnson (JNJ 103.22, +0.71) for $1.9 billion in cash.

Elsewhere, oil prices had a roller-coaster ride, trading below $49.00/bbl early, moving back above $51.00/bbl later, and then ultimately settling pit trading down $0.17 at $49.59/bbl.

The energy sector (-0.7%) was stuck in a rut all day, even when oil prices came storming back from early losses. The only other sector that fared worse on Monday was the utilities sector, which dropped 2.0%, clipped by the jump in long-term rates.

On the flip side, there was quality leadership in Monday's market from those sectors one would expect to see leading a charge to new highs. The consumer discretionary sector (+1.2%) led all gainers followed by the information technology (+1.0%), health care (+0.9%), financial (+0.8%), and industrials (+0.8%) sectors.

The CBOE Volatility Index ("the VIX") fell 3.2% to 12.92, ending at its lowest level since early December. The VIX Index has plunged 34% over the last month as the broader market has rallied to higher highs.

NYSE volume totaled 740 mln shares versus the 50-day average of 813 mln shares.

3:30 pm: [BRIEFING.COM]

The dollar index continued to hold modest gains today, which helped add some selling pressure on commodities today, including precious metals (gold and silver) and oil futures
Apr crude oil futures started the morning off higher and rose as high as $51.04/barrel. However, these gains could not hold as bearish factors such as oversupply/storage capacity concerns continue to weigh on prices.
Apr crude oil ended today's session $0.21 lower at $49.58/barrel. Meanwhile, Apr natural gas lost $0.03 to $2.70/MMBtu
May copper futures remained near the unchanged line today , ultimately finished floor trading $0.01 lower at $2.70/lb
Apr gold and May silver continued to inch lower in afternoon trading, leaving gold $5.10 lower on the day to $1208.00/oz and May silver $0.14 lower at $16.45/oz

2:55 pm: [BRIEFING.COM] The major indices are moving in narrow ranges with the final hour of trading approaching. Today's gains were achieved mostly in the first hour of trading. Since then, there has been some give and take that has dropped the indices back from their highest levels of the day, yet there hasn't been any concerted selling interest to this point.

As stated earlier, today's batch of economic data was weaker than expected, continuing a trend in economic reporting that has been a hallmark in the early part of 2015.

The key report of the week will be the February employment report on Friday. Market participants and Fed officials will undoubtedly be locked on the average hourly earnings figure and aggregate earnings to see if the solid gains in January continued in February.

Separately, the Reserve Bank of Australia will hold a policy meeting on Tuesday and it is expected by many to announce another policy rate cut as the ASX 200 trades at a seven-year high. The effort by central banks to introduce more policy stimulus has also been a recurring theme in the early part of 2015, demonstrating the ongoing disconnect between the real economy and equity markets.

2:25 pm: [BRIEFING.COM] The stock market has continued to maintain an air of resilience to selling efforts. It will be interesting to see if it can continue to do that into the close considering that Apple (AAPL 128.65, +0.19) has been fading. Apple is still up 0.2% for the day but had been up 1.4% earlier in the session.

Small-cap stocks have stemmed some of their hemorrhaging. The Russell 2000, which was up just 0.1% a short time ago, is now up 0.4%.

Elsewhere, commodities have been a generally weak bunch today. WTI crude prices have had an up and down session and are now down again (-0.2% at $49.68/bbl) just ahead of the close of pit trading. Continued dollar strength remains an overhang for dollar-denominated commodity prices.

2:00 pm: [BRIEFING.COM] The major indices continue to run comfortably above the unchanged mark with the Dow Jones Industrial Average (+0.7%) setting today's pace even though the Nasdaq's (+0.5%) earlier return to 5,000 has captured most of the attention.

Today's economic numbers leaned toward the downside. Trends in the income and spending data were the most discouraging.

The big story in spending is actually the lack of demand given the increase in income and big declines in prices. Instead of spending this newfound income, household are allocating more toward savings. The personal savings rate increased 5.5% in January from 5.0% in December. That was the highest savings rate since December 2012 when expiring tax breaks resulted in sizable profit taking in the equity market.

It will be difficult for GDP growth to maintain its potential rate (2.7% - 3.0%) if consumers keep increasing the personal savings rate in conjunction with income gains.

1:30 pm: [BRIEFING.COM] The major U.S. indices maintain solid gains to start March, bolstered in part by M&A activity.

On the heels of the continued strength in the Nasdaq, Cisco Systems (CSCO 30.14, +0.63) broke through $30 earlier on a large block trade, pushing the tech giant to new eight-year highs.

While the broad market is notably higher, both energy (-0.9%) and utilities (-1.7%) continue to underperform. The decline in energy can be observed through numerous E&P oil and gas names, despite WTI crude (+1.75 to $50.65/bbl) trading higher today.

Looking to the close, embattled casino operator Caesars Entertainment (CZR 10.81, +0.21) is expected to reported its quarterly results after the bell.

1:05 pm: [BRIEFING.COM] The first trading day of a new month often invites new inflows. There was some doubt before the open that would be the case today as the S&P futures were little changed despite a spate of M&A activity and news over the weekend that the People's Bank of China cut to its key lending rate 25 basis points to 5.35%.

The cash market, however, didn't spend a lot of time today paying attention to the futures market. Instead, it started the session on an upbeat note and kept moving up, up, up until the Nasdaq Composite saw the light of 5,000 again for the first time since March 2000.

The jaunt to that vaunted level was precipitated by a strong showing from the semiconductor group, which was lifted by NXP Semiconductor's (NXPI 98.92, +14.03) $11.8 billion cash-and-stock acquisition of Freescale Semiconductor (FSL 40.18, +4.07). In turn, it didn't hurt sentiment in the technology arena either that Hewlett-Packard (HPQ 34.70, -0.14) substantiated last week's rumor that it is going to acquire Aruba Networks (ARUN 24.41, -0.40) for $2.7 billion in cash.

Not to be outdone, Cardinal Health (CAH 89.44, +1.45) announced it is going to acquire Cordis from Johnson & Johnson (JNJ 103.17, +0.66) for $1.99 billion in cash.

Since the opening bell, the information technology and health care sectors have exhibited relative strength. Their leadership, along with that of the consumer discretionary (+0.9%), financial (+0.4%), and industrials (+0.6%) sectors, has kept the S&P 500 in positive territory from the get go.

There has been a bit of backtracking, though, after the Nasdaq made a second run at clearing 5,000 that was summarily met with selling resistance. Small-cap issues have paced the retreat from earlier highs. The Russell 2000, which was up 0.8%, is now up just 0.1%.

Separately, there has been a good bit of action in the Treasury market today, only that action has been accented since the get-go with selling interest. It has been a noteworthy response considering today's economic data was all weaker than expected:

January Personal Income +0.3% (Briefing.com consensus +0.4%) and January Personal Spending -0.2% (Briefing.com consensus -0.1%)
That wasn't all about declining gas prices either. Durable goods spending fell 0.1%.
PCE prices were down 0.5% and core PCE prices, which exclude food and energy, were up just 0.1%
Over the last 12 months, PCE prices are up 0.2% while core PCE prices are up 1.3%, leaving both well below the Fed's inflation target
The February ISM Index dipped to 52.9 (Briefing.com consensus 53.0) from 53.5 in January
This is the lowest reading in 13 months
January construction spending declined 1.1% (Briefing.com consensus +0.2%)

The benchmark 10-yr note yield has risen seven basis points to 2.07% and is currently trading near its worst levels of the day.

The opposite is true for WTI crude prices (+1.9% at $50.67/bbl), which are trading near their best levels of the day after rebounding from early selling efforts that took prices below $49.00/bbl. Despite the rebound, the energy sector (-0.9%) has been slow to respond and is the second worst-performing sector today.

The worst-performing sector is the utilities sector (-2.0%), which continues get bashed on rising interest rate concerns.

12:30 pm: [BRIEFING.COM] Seeing some backtracking in the major indices after the Nasdaq's second failure today to break convincingly above the 5,000 mark.

The energy sector (-1.0%) remains the big drag on the S&P 500 (+0.3%) despite a rebound today in oil prices (+1.2% at $50.34/bbl). The coal stocks are weak as they continue to feel the competitive pinch of lower natural gas prices (-0.4% at $2.72/mmbtu).

Chevron (CVX 105.58, -1.10) and ExxonMobil (XOM 87.86, -0.68) are also acting as key drags on the sector. The latter company will be holding an investor and analyst meeting on Wednesday.

Chevron and ExxonMobil are two of just ten Dow stocks trading lower today. The weakest of the bunch is IBM (IBM 160.31, -1.63).

12:00 pm: [BRIEFING.COM] Major averages continue to meander around their best levels of the day. In the last half hour, the Nasdaq poked its head above 5,000 again but ran into a razor that cut it short again on the breakout attempt.

Looking elsewhere, the Treasury market can't catch a bid today. Treasuries are all near their worst levels of the session. Not sure there is any major cause and effect here, yet an earlier report from CNBC said Spain's economic minister noted a third bailout agreement for Greece is being negotiated to the tune of $34 billion to $56 billion.

That report could be playing a part in an unwinding of safety trades that has also come into play with the stock market's continued strength.

The benchmark 10-yr note yield has risen seven basis points to 2.07% while the more fed funds rate-sensitive 2-yr note yield has jumped four basis points to 0.66%.

11:30 am: [BRIEFING.COM] The major indices are holding near their best levels of the day, yet have taken a breather after a sprint higher in the early going. That breather has coincided with the Nasdaq Composite hitting the 5,000 mark for the first time again since March 2000 and then running into some minor resistance at that vaunted level.

By and large, the broader market is finding ample support outside of just Nasdaq-listed technology issues. The consumer discretionary sector (+1.0%) leads all gainers today and is the top-performing sector so far this year (+6.1%) with investors anticipating better results courtesy of the plunge in gas prices and a rising level of employment.

The auto parts retailers, casino, and specialty retailers like Tiffany & Co. (TIF 90.14, +1.92) are standouts in the consumer discretionary sector today.

11:00 am: [BRIEFING.COM] This morning's action has been accented with a bullish bias so far as the cash market quickly distanced itself from a sluggish futures market.

The headline of the day for the stock market to this point is that the Nasdaq Composite hit the 5,000 mark again -- 15 years after it last saw that level. The strength in the semiconductor space (SOX Index +2.3%) has underpinned today's advance along with continued gains for Apple (AAPL 129.48, +1.02), which saw Morgan Stanley up its price target today to $160 from $133.

Another development drawing attention is the resilience of oil prices to selling pressure. After slipping below $49.00/bbl earlier today, WTI crude prices have rebounded and are now up 0.8% at $50.16/bbl.

Separately, there is a good bit of weakness in the Treasury market today as the entire curve has been hit with selling interest. That's an interesting move insomuch as today's batch of economic data played into the idea that the Fed can be patient in raising the fed funds rate. The weak price action versus the strength in the stock market is apt to drive conclusions that some rebalancing is taking place on this first trading day of March.

10:35 am: [BRIEFING.COM]

The dollar index has been slowly climbing higher in recent trade, which appears to be helping weigh on precious metals
Apr WTI crude oil was in the red all day and fell as low as $48.71/barrel, but in recent trade WTI oil received some buying interest and just rallied to a new HoD of $50.42/barrel
Apr crude is now +0.9% at $50.22/barrel
Apr natural gas futures have been in the red all day so far too, but recovered losses in recent trade.
Apr NG is now +0.4% at $2.74/MMBtu
Apr gold traded as high as $1223.00/oz in the early part of overnight trading, but has since pared back its gains and is now -0.1% at $1211.60/oz
May silver is currently +0.04% at $16.57/oz, while May copper is at +0.3% at $2.70/lb

10:00 am: [BRIEFING.COM] The cash market is showing more vitality in the early-going than the futures market suggested it might.

Quality leadership from the consumer discretionary (+0.8%), health care (+0.6%), industrials (+0.5%),financial (+0.4%), and information technology (+0.4%) sectors, all of which are heavily weighted in the S&P 500, has helped drive things.

Aside from the merger activity in the semiconductor space, it was also announced today that Hewlett-Packard (HPQ 34.87, +0.03) is going to acquire Aruba Networks (ARUN 24.41, -0.40) in a $2.7 bln cash deal (this was rumored last week) and that Cardinal Health (CAH 90.07, +2.08) will acquire Cordis from Johnson & Johnson (JNJ 103.04, +0.53) for $1.99 bln in cash.

Separately, it was reported at the top of the hour that the ISM Index for February declined to 52.9 from 53.5 while the Briefing.com consensus expected the reading to dip to 53.0. That compared to a revised 55.1 reading (from preliminary 54.3) in the February market PMI report. Construction Spending, meanwhile, decreased 1.1% month-over-month in January, while the Briefing.com consensus expected an increase of 0.2%.

9:45 am: [BRIEFING.COM] There was a modest uptick for the major indices at the start of trading, with strength in the semiconductor space helping to boost the broader market.

That strength has flowed from NXP Semiconductor's (NXPI 97.07, +12.18) $11.8 billion acquisition of Freescale Semiconductor (FSL 39.50, +3.39). Both companies are components in the Philadelphia Semiconductor Index ("SOX" Index), which is up 1.4% in early action.

Areas of early weakness include energy (-1.1%), which following oil prices (-1.1% at $49.23/bbl) lower, and utilities (-0.9%), which remain on the defensive following a terrible February in which the sector dropped 7.0%.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: +7.80. The futures market continues to operate in a sluggish mode this morning despite some seemingly positive catalysts to get it jumpstarted, namely the rate cut in China, a spate of M&A activity in the U.S., and a weakish Personal Income and Spending report that supported the argument for the Fed to hold off raising the fed funds rate.

The stock market is of course coming off a very strong month in February, so it's possible that it is expecting a period of consolidation following the strong move.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +9.25. January personal income increased 0.3%, while the Briefing.com consensus expected an uptick of 0.4%. Meanwhile, personal spending decreased 0.2%, while the consensus expected a decrease of 0.1%.

PCE prices were down 0.5%. Core PCE prices, which exclude food and energy, were up 0.1% while the Briefing.com consensus expected a reading of 0.2%.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +8.50. U.S. equity futures are relatively flat and are trading close to fair value despite the news that the People's Bank of China cut its key interest rate by 25 basis points to 5.35% and word of a multi-billion M&A deal in the semiconductor space.

Personal Income/Spending and PCE prices for January will be reported at 08:30 a.m. ET. Construction spending data for January and the February ISM Index will follow at 10:00 a.m. ET.

In U.S. corporate news:

NXP Semiconductors (NXPI): trading up 12% after announcing it will acquire Freescale Semiconductor (FSL) for $11.8 billion in cash and stock (or $16.7 billion including Freescale's net debt)
Mitel (MITL): buying Mavenir Systems (MVNR) for approximately $560 million in cash and stock ($17.94 per share)
Lumber Liquidators (LL): Down 24% in pre-market action following a critical '60 Minutes' piece on the company

Major markets in Asia ended Monday higher, bolstered by the news that the People's Bank of China cut its loan and deposit interest rates by 25 bps each to 5.35% and 2.50%, respectively.

Economic data:
Japan
Q4 Capital Spending +2.8% year-over-year (expected +4.1%; prior +5.5%)
February Manufacturing PMI 51.6 (expected 51.5; prior 51.5)
China
Official PMI 49.9 (expected 49.7; prior 49.8)
HSBC Manufacturing PMI 50.7 (expected 50.1; prior 50.1)
Australia
January HIA New Home Sales +1.8% month-over-month (prior -1.9%)
Q4 Business Inventories -0.8% month-over-month (expected +0.1%; prior +1.2%)
Q4 Company Gross Profits -0.2% quarter-over-quarter (expected +0.3%; prior -0.4%)
India
February HSBC Markit Manufacturing PMI 51.2 (prior 52.9)
Indonesia
February HSBC Manufacturing PMI 47.5 (prior 48.5)
February inflation -0.4% month-over-month (expected 0.1%; prior -0.2%); +6.3% year-over-year (expected 6.7%; prior 7.0%)
February Core inflation +5.0% year-over-year (expected 5.0%; prior 5.0%)
South Korea
February trade balance KRW7.70 billion (expected KRW6.20 billion; prior KRW 5.40 billion)
Exports -3.4% year-over-year (expected -1.8%; prior -0.7%)
Imports -19.6% year-over-year (expected -11.7%; prior -11.0%)
January Current Account 6.94 bln (prior 7.02 bln)
January Industrial Production -3.7% month-over-month (expected -0.1%; prior +3.4%); +1.8% year-over-year (expected +0.4%; prior +1.1%)
Retail Sales -3.1% month-over-month (prior +1.5%)
January Service Sector Output -0.4% month-over-month (prior 0.0%)
February HSBC Manufacturing PMI 51.1 (expected 51.0; prior 51.1)
Equity markets
Japan's Nikkei added 0.2% on the back of relative strength in the communications (+1.0%), consumer cyclical (+0.6%), and technology (+0.5%) sectors and news that Japan's public pension fund was an active purchaser of domestic shares in the fourth quarter. Top gainers included Sekisui House Ltd. (+3.3%), Dentsu (+3.1%), and Kawasaki Heavy Industries (+3.0%). Kuraray Co. (-3.5%), Taisei Corp. (-3.3%), and Hokoetsu Kishu Paper (-3.0%) were the biggest percentage decliners.
Hong Kong's Hang Seng jumped 0.3%, helped by strength in the consumer non-cyclical (+0.7%), diversified (+0.6%), and financial (+0.2%) sectors. AIA Group (+3.7%), Cheung Kong Holdings (+1.9%), and China Shenhua Energy (+1.7%) sat atop the list of winners while Bank of East Asia (-3.3%) paced declining issues.
China's Shanghai Composite advanced 0.8%, bolstered by the PBOC's rate cut announcement. All sectors advanced with the technology (+3.0%), consumer cyclical (+1.4%), and industrial (+1.2%) sectors leading the way. Shanghai Zi Jiang Enterprises (+10.1%) and Wenfeng Great World Chain Development Corp. (+10.0%) were the biggest percentage gainers while Inner Mongolia Yitai Coal Co (-3.4%) and China Railway Erju Co (-3.2%) were the biggest percentage decliners.
India's Sensex increased 0.3%, led by its consumer non-cyclical (+1.5%) and financial (+1.5%) sectors. Axis Bank Ltd. (+5.7%), Cipla Ltd./India (+5.1%), and Bharat Heavy Electricals (+4.4%) scored the largest percentage gains. Conversely, ITC Ltd. (-5.0%), Bajaj Auto Ltd, (-3.7%), and Hero MotoCorp (-2.2%) were the biggest laggards.
Australia's S&P/ASX 200 finished Monday with a 0.5% gain ahead of Tuesday's Reserve Bank of Australia policy meeting, which many participants think will produce another interest rate cut. The utilities (+1.9%), REIT (+1.6%), and Gold (+1.4%) sectors provided leadership on Monday. Rio Tinto (+1.9%) was a notable gainer.
Regional advancers: South Korea +0.6%, Singapore +0.03%, Indonesia +0.5%, Philippines +0.6%
Regional decliners: Taiwan -0.2%, Malaysia -0.2%, Thailand -0.3%, Vietnam -0.3%
FX:
USD/CNY +0.1% at 6.2737
USD/INR +0.5 % at 61.927
USD/JPY +0.2% at 119.80

European indexes are trading modestly lower today. The DAX and FTSE took out recent highs in the early action but have recently given up the early gains and are now trading roughly unchanged. The CAC lags the rest of the region, down 0.7%. Regional PMIs dominated the news flow out across the pond, with only France missing its preliminary mark, coming it at 47.6 vs 47.7 prior. Italy posted stronger than expected macro data employment data, with the Jan Unemployment Rate hitting 12.6%, 30bps better than consensus.

Economic Data (not mentioned above)
Italy Feb Manufacturing PMI 51.9 vs 50.1e
Italy Annual GDP -0.4% vs -0.4%e
Eurozone Manuf PMI 51.0 vs 51.1e
UK Feb Manuf PMI 54.1 vs 53.4e
Eurozone Core CPI +0.6% vs +0.6%e
Eurozone Unemp Rate 11.2% vs +11.4%e
Equity Markets
Germany's DAX is trading in minor negative territory (down 0.1%) with Financials bucking the broader average, up 0.5%. Thyssenkrup (TYEKF) and BMW (BAMXY) are among the leaders, posting gains of nearly 1% each. Siemens (SIEGY) is weighing on the index, with the heavy weight trading nearly 1% lower on the day.
France's CAC (-0.7%) is trading lower, taking a hit with the weaker than expected PMI. Vivendi is trading lower by 5% following earnings released on Friday after the close. Credit Ag (CRARY) is bucking the trend, trading higher with the rest of the financials in the region, up 0.6% thus far.
The UK's FTSE is trading 0.1% lower. Weighing on the index is the Energy Sector (-1.9%), which is taking its cue from lower oil prices this morning. Again, bucking the broader market are financials (+0.3%) with the likes of Barclays (+1.4%) and RBS (+1.9%) trading with solid gains for the session.
FX
EURUSD +0.4% at 1.1235
GBPUSD -0.2% at 1.5394
USDCHF +0.2% at 0.9552

7:18 am: [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +8.50.

6:53 am: [BRIEFING.COM] Nikkei...18826.88...+28.90...+0.20%. Hang Seng...24887.44...+64.20...+0.30%.

6:53 am: [BRIEFING.COM] FTSE...6945.98...-0.70...0.00%. DAX...11413.60...+11.90...+0.10%.

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

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr