TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 4:45 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: March 11th Wednesday Trade Results - Profit $6312.50
PostPosted: Thu Mar 12, 2015 4:11 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:
031115-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+6312.50.png
031115-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+6312.50.png [ 88.41 KiB | Viewed 281 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $6,312.50 dollars or +126.25 points, Light Crude Oil CL ($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 @ $6,312.50 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=141&t=2025

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:
031115-Key-Price-Action-Markets.png
031115-Key-Price-Action-Markets.png [ 1.46 MiB | Viewed 300 times ]

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


4:10 pm: [BRIEFING.COM] The Dow (-0.2%), Nasdaq (-0.2%), and S&P 500 (-0.2%) registered modest losses on Wednesday while the Russell 2000 (+0.6%) outperformed. The small-cap index climbed steadily throughout the afternoon while the S&P 500 spent the day in an 11-point range near its flat line before settling just below its 100-day moving average (2,042).

Yesterday's sharp slide was paced by the two largest sectors by weight, but technology (-0.7%) and financials (+0.6%) spent today on opposite sides of their unchanged levels, which contributed to the sideways action.

The financial sector settled in the lead ahead of this evening's release of the complete results of the stress test administered by the Federal Reserve. Citigroup (C 52.33, +1.10) was the top performer among the majors, climbing 2.2%.

Meanwhile, the technology sector struggled throughout the session, sliding to lows during the final hour of action. Shares of Apple (AAPL 122.24, -2.27) fell 1.8%, keeping the sector under pressure while chipmakers displayed relative strength. Intel (INTC 32.34, +0.64) and SanDisk (SNDK 82.73, +2.56) posted respective gains of 2.0% and 3.2% while the PHLX Semiconductor Index rose 0.3%. Intel rallied after VentureBeat reported that the company's processors will be used in Apple iPhones in 2016 while SanDisk was added to Goldman's Conviction Buy List.

Elsewhere among cyclical sectors, the discretionary space (-0.5%) lagged while the energy sector (+0.2%) ended among the leaders even though crude oil settled lower by 0.4% at $48.21/bbl after testing the $47.40/bbl level intraday. The dollar-denominated energy component had to contend with another uptick in the greenback that pushed the Dollar Index (99.76, +1.15) higher by 1.2%. The dollar enjoyed another day of broad strength, pressuring the euro to 1.0540.

Over on the countercyclical side, consumer staples (-0.8%) and utilities (-0.7%) underperformed throughout the day while health care ended flat after showing intraday strength. The sector saw little reaction to news indicating Endo International (ENDP 87.76, -1.24) offered to buy Salix Pharmaceuticals (SLXP 168.60, +10.95) for $175/share.

Treasuries rallied following today's solid 10-yr auction, sending the benchmark 10-yr yield lower by three basis points to 2.11%.

Today's participation was in-line with recent averages as roughly 760 million shares changed hands at the NYSE floor.

Economic data released today was limited to the weekly MBA Mortgage Index, which fell 1.3% to follow last week's 0.1% uptick.

Tomorrow, weekly Initial Claims (Briefing.com consensus 306K), February Retail Sales (consensus 0.4%), and February Import/Export Prices will be released at 8:30 ET while the Business Inventories report for January (consensus 0.1%) will cross the wires at 10:00 ET. The day's data will be topped off with the 14:00 ET release of the Treasury Budget for February (consensus -$192 billion), which was pushed back from today.

Nasdaq Composite +2.4% YTD
Russell 2000 +0.9% YTD
S&P 500 -0.9% YTD
Dow Jones Industrial Average -1.1% YTD

3:35 pm: [BRIEFING.COM]

WTI crude oil was rather volatile again, following some industry data
Apr crude popped higher, but reversed following yesterday's API data
Today, crude fell following the EIA data to today's low, well below $48/barrel.
Apr crude recovered back above $48 in floor trading, but closed $0.19 lower still at $48.21/barrel
Natural gas rallied today and held its gains. Apr nat gas closed $0.10 higher at $2.83/MMBtu
Gold and silver climbed higher following its morning low, but still closed in the red
Apr gold closed $9.50 lower at $1150.60/oz, while May silver closed $0.26 lower at $15.38/oz

3:00 pm: [BRIEFING.COM] The S&P 500 holds a three-point gain with one hour remaining in the session. Meanwhile, small cap stocks have shown strength in recent action with the Russell 2000 (+0.5%) climbing to a fresh session high.

The recent strength among small caps should be a supportive factor going into the home stretch. The S&P 500 has bounced off its 100-day moving average (2,042) on two occasions today, but a handful of large sectors, including technology (-0.3%), remain weak. Chipmakers, however, continue showing strength with the PHLX Semiconductor Index higher by 0.7%.

On a separate note, the Dollar Index (99.74, +1.12) remains higher by 1.1% after hitting its session best of 99.97.

2:30 pm: [BRIEFING.COM] The S&P 500 (+0.1%) trades near the middle of today's trading range, but the index remains below its afternoon high (2,048) and below its session high (2,050) that was established during the opening hour.

The financial sector (+0.8%) continues holding a solid gain, but relative weakness among other influential sectors like consumer discretionary (-0.1%), technology (-0.3%), and consumer staples (-0.6%) has prevented the market from pulling away from its flat line.

Also of note, Treasuries have continued their rally after a strong 10-yr auction with the benchmark yield now down three basis points at 2.10%.

2:05 pm: [BRIEFING.COM] The S&P 500 has returned below its flat line with the technology sector (-0.4%) dropping to a fresh session low.

The Treasury Budget statement, which was set for a 14:00 ET release, has been delayed until tomorrow.

We will get a feel for how confident the consumer is about the economy with tomorrow's retail sales report.

Last month we saw sizable growth in income, but retail sales contracted as consumers opted to save rather than spend their newfound income.

This month income growth was much more moderate, but another drop in sales would signal consumers are not ready to spend any type of income gains.

1:30 pm: [BRIEFING.COM] There hasn't been much change since our last update as the major indices cling to modest gains.

In equities, select names in the pharmaceutical space have been especially volatile in recent trade following a WSJ story that Endo Pharma (ENDP 87.61, -1.39) has made a competing bid to acquire Salix Pharma (SLXP 166.86, +9.21). Salix is already in an agreement to be acquired by Valeant Pharma (VRX 193.41, -8.07) for $158 per share. There have been conflicting reports about the per share value of Endo's alleged offer for Salix, but reports indicate it may value SLXP anywhere between $165-$175 per share.

Elsewhere, popular burger chain Shake Shack (SHAK 45.34, -0.44) shares are down marginally ahead of tonight's Q4 earnings report, which is its first earnings release since going public earlier this year. Shake Shack shares are up 116% since the IPO in late January priced at $21.00 per share.

At the top of the hour, the treasury auctioned off $21 bln in 10-year notes with a high yield of 2.139%. The bid-to-cover ratio was 2.65. Indirect bidders had 58.5% of accepted offers, higher than the prior 12-auction average of 47.7%. On the flip side, direct bidders had 10.2% of accepted offer versus the prior 12-auction average of 13.2%

12:55 pm: [BRIEFING.COM] The major averages are little changed at midday with the Dow (+0.3%), Nasdaq (+0.2%), and S&P 500 (+0.2%) all within a few points of their flat lines.

Equity indices have bounced around narrow ranges through the first half of the midweek session with the S&P 500 briefly dipping below its 100-day moving average (2,042) for the first time since the end of January. The index was able to find support in that area, but the subsequent rebound has not been strong enough for the S&P 500 to clear its opening high.

Individual sectors are split down the middle with the top-weighted technology sector (-0.1%) facing some selling pressure. The largest sector component-Apple (AAPL 123.79, -0.72)-is lower by 0.6%, but chipmakers have shown relative strength with Intel (INTC 32.58, +0.88) and SanDisk (SNDK 83.55, +3.38) up 2.8% and 4.2%, respectively. Intel has benefitted from a VentureBeat report that the company's processors will be used in Apple iPhones in 2016 while SanDisk was added to Goldman's Conviction Buy List. For its part, the broader PHLX Semiconductor Index is higher by 0.6%.

On the flip side, the financial sector (+0.9%) leads after sliding 2.1% yesterday. It is worth noting that the Federal Reserve will release the complete results of the stress test following today's closing bell.

The remaining sectors trade closer to their flat lines with energy (+0.3%) showing strength even though crude oil trades lower by 1.4% at $47.61/bbl. On a related note, the Dollar Index (99.56, +0.95) is higher by 1.0% with the euro/dollar pair trading just above its session low, at 1.0575.

Treasuries hold slim losses after spending the bulk of the morning near their flat lines. The 10-yr yield is higher by a basis point at 2.14%.

Economic data released this morning was limited to the weekly MBA Mortgage Index, which fell 1.3% to follow last week's uptick of 0.1%.

The Treasury Budget for February (Briefing.com consensus -$192 billion) will be released at 14:00 ET.

12:25 pm: [BRIEFING.COM] Equity indices continue drifting inside narrow ranges that have been in effect since the opening 90 minutes of the session. The S&P 500 (+0.1%) has maintained its slim gain with significant help from the financial sector (+0.8%), which has recently extended to a fresh session high.

Last Wednesday, the Federal Reserve announced that all 31 major banks cleared the baseline for required capital levels, but complete results of the stress test will be released shortly after today's closing bell.

Elsewhere, Treasuries remain little changed with the 10-yr note anchored to its flat line and its yield pegged at 2.13%.

11:55 am: [BRIEFING.COM] The Nasdaq and S&P 500 continue hovering near their flat lines while the Dow Jones Industrial Average (+0.3%) has returned to its opening high.

Roughly 2/3 of the Dow trades in the green with five components showing gains of 1.0% or more. However, the leading performer-Intel (INTC 32.67, +0.97)-has had little impact on the performance of the price-weighted average even though the stock trades higher by 3.0%.

However, Intel's strength has helped the technology sector (unch) climb off its session low. Elsewhere among chipmaker names, SanDisk (SNDK 83.77, +3.60) has jumped 4.5% after Goldman Sachs added the stock to its Conviction Buy List.

11:25 am: [BRIEFING.COM] Recent action saw the Nasdaq and S&P 500 return above their flat lines. All in all, the indices remain inside narrow ranges with the S&P 500 bouncing between 2,040 and 2,050. The benchmark index has made a brief appearance below its 100-day moving average (2,042), but that area has provided support for the time being.

The heavily-weighted financial sector (+0.6%) has reclaimed the lead while another influential group-health care-has narrowed its gain to 0.3%. Interestingly, biotechnology has shown relative strength with the iShares Nasdaq Biotechnology ETF (IBB 342.67, +1.24) higher by 0.4%.

On the downside, consumer staples (-0.7%) and utilities (-0.9%) sit at the bottom of the leaderboard.

11:00 am: [BRIEFING.COM] The major averages have slumped from their highs with the S&P 500 and Nasdaq Composite (-0.1%) slipping into the red.

Only three sectors remain in the green with financials (+0.4%) continuing their outperformance while the top-weighted technology sector has widened its decline to 0.3%. Notably, the largest sector component-Apple (AAPL 122.63, -1.89)-trades lower by 1.5% while chipmakers have shown relative strength. Intel (INTC 32.78, +1.07) has jumped 3.4% after VentureBeat reported the company's processors will be used in Apple iPhones in 2016. For its part, the broader PHLX Semiconductor Index is higher by 0.6%.

Elsewhere, Treasuries have climbed into the green after showing morning losses with the 10-yr yield at 2.13%.

10:40 am: [BRIEFING.COM]

WTI crude oil futures were trading near the day's low just ahead of the weekly EIA storage data, which called for a build of about 4.7 million barrels.
Yesterday, the weekly API data showed a draw of 404K barrels, which was far away from the expectations of a build of about 4.4 million barrels.
Following the data, which showed a build of 4.51 mln, which
Gold and silver futures sold off in recent trade
Apr gold is now -0.8% at $1150.20/oz, while May silver is -1.9% at $15.34/oz
Copper futures also sold off in recent activity, hitting a new LoD, now -0.8% at $2.60/lb
Natural gas fell as low as $2.66/MMBtu this morning, but has since recover nicely
Apr nat gas is now +2.2% at $2.79/MMBtu

10:00 am: [BRIEFING.COM] The Nasdaq Composite (+0.2%) has rejoined the S&P 500 (+0.2%) in the green as the quiet start to the session continues.

Although the major averages continue trading near their recent levels, crude oil has slumped to a new low and is now down 0.2% at $48.21/bbl after hitting an overnight high near $49.00/bbl. Meanwhile, the energy sector (-0.2%) has turned negative.

On the upside, the health care sector (+0.6%) has overtaken financials (+0.5%) for the lead.

9:40 am: [BRIEFING.COM] Equity indices climbed out of the gate with the S&P 500 (+0.1%) trading ahead of the Nasdaq Composite, which has dipped into the red. Meanwhile, the S&P has inched away from its early high.

Eight sectors display early gains with financials (+0.4%) in the lead after pacing yesterday's decline. Meanwhile, yesterday's other noteworthy laggard-technology (-0.2%)-began the day at the bottom of the leaderboard. Elsewhere, the consumer staples sector (-0.2%) also hovers below its flat line.

Treasuries continue holding modest losses with the 10-yr yield at 2.14% (+1 bps).

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +11.50. The stock market is on track for a modestly higher open as futures on the S&P 500 trade six points above fair value. Index futures have been able to rebound from yesterday's weakness even though the Dollar Index (99.38, +0.76) has built on yesterday's advance and is now up 4.3% for the month. For the time being, dollar strength has not gotten in the way of crude oil, which trades higher by 1.0% at $48.76/bbl.

On the corporate front, Express (EXPR 15.89, +0.94) is on track to open higher by 6.3% after beating estimates and issuing upbeat Q1 earnings guidance while Habit Restaurants (HABT 33.38, -2.17) is lower by 6.1% in pre-market despite beating estimates and guiding ahead of analyst expectations.

Economic data reported this morning was limited to the MBA Mortgage Index, which fell 1.3% to follow last week's uptick of 0.1%. The Treasury Budget for February (Briefing.com consensus -$192 billion) will cross the wires at 14:00 ET.

Treasuries hold modest losses with the 10-yr yield higher by a basis point at 2.15%.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +12.70. The S&P 500 futures trade six points above fair value.

Markets in the Asia Pacific region were mostly lower Wednesday in the wake of Wall Street's weak showing on Tuesday. Losses, however, were generally modest in scope. Both Japan (+0.3%) and China (+0.2%) bucked the regional trend. Gains in the Shanghai Composite were seen despite weaker than expected readings for February fixed asset investment, industrial production, and retail sales.

In economic data:
China's February Fixed Asset Investment +13.9% year-over-year (expected +15.0%; prior +15.7%), February Industrial Production +6.8% year-over-year (expected +7.8%; prior +7.9%), and February Retail Sales +10.7% year-over-year (expected +11.7%; prior +11.9%)
Japan's January Core Machinery Orders -1.7% month-over-month (expected -4.1%; prior +8.3%); +1.9% year-over-year (expected -1.0%; prior +11.4%)
South Korea's January M2 Money Supply +8.2% (prior +8.5%)
Australia's January Home Loans -3.5% month-over-month (expected -2.0%; prior +2.7%) and March Westpac Consumer Sentiment -1.2% (prior +8.0%)

------

Japan's Nikkei increased 0.3%, bolstered by strength in the industrial (+0.8%) and consumer non-cyclical (+0.7%) sectors. Sojitz Corp (+6.1%) led all individual gainers followed by Chiyoda Corp (+5.4%), Shionogi & Co (+3.0%), Eisai Co (+2.9%), and Ajinomoto Co (+2.7%). UNY Group Holdings (-2.9%) and Mitsubishi Materials (-2.7%) paced the decliners.
Hong Kong's Hang Seng declined 0.8% and ended on its lows for the day, pressured by weakness in the utilities (-1.1%), financial (-0.6%), and communications (-0.5%) sectors. Top decliners included China Shenhua Energy Co (-3.8%), Sands China (-3.6%), Galaxy Entertainment (-3.4%), Lenovo Group (-2.9%), and China Resources Power Holdings (-2.4%).
China's Shanghai Composite jumped 0.2% in the wake of weaker than expected economic data for fixed asset investment, industrial production, and retail sales. The consumer cyclical (+0.9%) and financial (+0.6%) sectors provided support.

Major European indices trade mostly higher while UK's FTSE has returned to its flat line. On a separate note, The European Commission said it has begun technical discussions with Greece in order to secure the extension of Greece's bailout.

Economic data was limited:
France's Nonfarm Payrolls were unchanged quarter-over-quarter, as expected (previous 0.0%), while the Current Account deficit narrowed to EUR300 million from EUR2.00 billion (expected EUR2.30 billion)
UK's Industrial Production -0.1% month-over-month (expected 0.2%; prior -0.2%); +1.3% year-over-year, as expected (previous 0.8%). Separately, Manufacturing Production -0.5% month-over-month (consensus 0.2%; last 0.1%); +1.9% year-over-year (consensus 2.6%; last 2.6%)

------

UK's FTSE trades just above its flat line after showing opening strength. Consumer names and miners lag with Coca-Cola HBC, J Sainsbury, BHP Billiton, and Fresnillo down between 1.3% and 2.5%.
Germany's DAX is higher by 1.6% with exporters in the lead. BMW, Daimler, and Volkswagen hold gains between 2.2% and 3.0%. On the downside, Deutsche Post is lower by 3.2% after missing Q4 estimates.
In France, the CAC trades up 1.8% amid broad strength. Financials Credit Agricole and Societe Generale outperform with respective gains of 2.6% and 2.2%. On the downside, ArcelorMittal is the lone decliner, down 0.4%.

8:28 am: [BRIEFING.COM] S&P futures vs fair value: +6.40. Nasdaq futures vs fair value: +14.00. U.S. equity futures continue holding modest gains with S&P 500 futures six points above fair value.

Yesterday's broad slide was attributed to continued dollar strength, but the greenback has extended that gain in overnight action. The Dollar Index (99.09, +0.49) is now up 4.0% since the end of February, which could pose a headwind to the market.

Commodities, meanwhile, have held up relatively well. Crude oil trades higher by 0.7% at $48.63/bbl while gold futures are little changed at $1158/ozt.

7:58 am: [BRIEFING.COM] S&P futures vs fair value: +4.90. Nasdaq futures vs fair value: +11.50. U.S. equity futures hold modest pre-market gains after rebounding from yesterday's broad-based slide that sent the S&P 500 (-1.7%) below its 50-day moving average. The S&P 500 futures currently trade five points above fair value with the advance taking place despite continued greenback strength, which has the Dollar Index (99.27, +0.65) trading higher by 0.7%.

On the economic front, the weekly MBA Mortgage Index fell 1.3% to follow last week's uptick of 0.1% while the Treasury Budget for February (Briefing.com consensus -$192 billion) will cross the wires at 14:00 ET.

Treasuries hold slim losses with the 10-yr note sitting just below its flat line with its yield at 2.14%.

In U.S. corporate news of note:

Express (EXPR 16.00, +1.05): +7.0% after beating estimates and issuing upbeat Q1 earnings guidance
Habit Restaurants (HABT 32.50, -3.05): -8.6% despite beating estimates and guiding ahead of analyst expectations.
Weibo (WB 14.20, -0.68): -4.6% despite reporting in-line earnings on better than expected revenue.

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei +0.3%, China's Shanghai Composite +0.2%, and Hong Kong's Hang Seng -0.8%
In economic data:
China's February Fixed Asset Investment +13.9% year-over-year (expected +15.0%; prior +15.7%), February Industrial Production +6.8% year-over-year (expected +7.8%; prior +7.9%), and February Retail Sales +10.7% year-over-year (expected +11.7%; prior +11.9%)
Japan's January Core Machinery Orders -1.7% month-over-month (expected -4.1%; prior +8.3%); +1.9% year-over-year (expected -1.0%; prior +11.4%)
South Korea's January M2 Money Supply +8.2% (prior +8.5%)
Australia's January Home Loans -3.5% month-over-month (expected -2.0%; prior +2.7%) and March Westpac Consumer Sentiment -1.2% (prior +8.0%)
In news:
Bank of Japan board member Sayuri Shirai said it is uncertain how soon Japan will reach the BoJ's 2.0% inflation target, but claimed the economy is in better shape than prior to the deployment of the easing program.

Major European indices trade higher across the board. UK's FTSE +0.1%, Germany's DAX +1.7%, and France's CAC +1.9%. Elsewhere, Italy's MIB +1.6% and Spain's IBEX +1.1%
Economic data was limited:
France's Nonfarm Payrolls were unchanged quarter-over-quarter, as expected (previous 0.0%), while the Current Account deficit narrowed to EUR300 million from EUR2.00 billion (expected EUR2.30 billion)
UK's Industrial Production -0.1% month-over-month (expected 0.2%; prior -0.2%); +1.3% year-over-year, as expected (previous 0.8%). Separately, Manufacturing Production -0.5% month-over-month (consensus 0.2%; last 0.1%); +1.9% year-over-year (consensus 2.6%; last 2.6%)
Among news of note:
The European Commission said it has begun technical discussions with Greece in order to secure the extension of Greece's bailout.

6:08 am: [BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +16.30.

6:08 am: [BRIEFING.COM] Nikkei...18723.52...+58.40...+0.30%. Hang Seng...23717.97...-179.00...-0.80%.

6:08 am: [BRIEFING.COM] FTSE...6721.04...+18.20...+0.30%. DAX...11669.82...+169.40...+1.50%.

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