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 Post subject: March 16th Monday Trade Results - Profit $180.00
PostPosted: Tue Mar 17, 2015 3:40 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)

Attachment:
031615-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+180.00.png
031615-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+180.00.png [ 87.62 KiB | Viewed 265 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $180.00 dollars or +1.80 points, Emini ES ($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 @ $180.00 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=2028

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, Briefing, 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


4:15 pm: [BRIEFING.COM] The stock market rebounded from last week's decline with a Monday rally that sent the S&P 500 (+1.3%) back above its 50-day moving average (2,060). The benchmark index narrowed its March loss to 1.1% while the Nasdaq (+1.2%) and Russell 2000 (+0.6%) underperformed, but still logged solid gains to start the week.

Unperturbed by disappointing economic data, equity indices rallied out of the gate and registered the bulk of their gains during the first hour of action. Countercyclical health care (+2.2%) and utilities (+1.7%) held the lead throughout the session, but most other sectors also posted solid gains.

The only group that couldn't make it out of the red was the materials sector (-0.1%) as Dow component DuPont (DD 77.07, -3.43) weighed after Bank of America/Merrill Lynch downgraded the stock to 'Underperform' from 'Buy.' DuPont lost 4.3% while steelmakers also pressured the sector with Market Vectors Steel ETF (SLX 30.91, -0.06) sliding 0.2%.

Meanwhile, another commodity-linked sector-energy-began the day in negative territory, but rebounded to end higher by 1.4% even as crude oil dropped to a new low for the year. The energy component settled lower by 2.1% at $43.94/bbl after testing the $43.00/bbl level this morning.

Crude oil spent the day in the red after OPEC's monthly oil market report indicated that global demand growth is unlikely to increase from the previous month's 1.17 million barrels/day. Furthermore, a pullback in the Dollar Index (99.71, -0.63) failed to provide support. The Dollar Index lost 0.6% with the greenback giving up 0.7% to the euro, which tested the 1.0600 level.

Today's relative weakness in the dollar combined with the lack of a negative response to disappointing economic data suggests that participants were not all that concerned with the possibility that the Fed will strike a hawkish tone in Wednesday's policy statement. There was no strong demand for volatility protection today with the CBOE Volatility Index (VIX 15.61, -0.39) falling 2.4%.

As mentioned earlier, the health care sector ended in the lead. Biotechnology supported the advance step-for-step with the iShares Nasdaq Biotechnology ETF (IBB 353.97, +8.64) climbing 2.5% to a new record high.

In turn, the relative strength within the biotech group was not enough to keep the Nasdaq in-line with the broader market. The tech-heavy index underperformed slightly as Facebook (FB 78.07, +0.02) and Intel (INTC 30.83, -0.10) spent the day in negative territory. Intel shed 0.3%, but that had little impact on its peers as the broader PHLX Semiconductor Index gained 1.5%.

Elsewhere among cyclical groups, the industrial sector (+1.6%) outperformed with help from transport stocks. The Dow Jones Transportation Average jumped 1.7% with 19 of its 20 components posting gains while Matson (MATX 40.73, -0.42) lost 1.0%.

Treasuries registered modest gains with the 10-yr yield slipping three basis points to 2.09%.

Today's participation was in-line with recent averages as 740 million shares changed hands at the NYSE floor.

Economic data included Empire Manufacturing Index, Industrial Production, and NAHB Housing Market Index:

The Empire Manufacturing Survey for March registered a reading of 6.9, which was below the prior month's reading of 7.8 and below the Briefing.com consensus estimate, which was pegged at 8.8
Industrial production increased 0.1% in February after declining a negatively revised 0.3% (from +0.2%) while the Briefing.com consensus expected an increase of 0.3%
Manufacturing production declined 0.2% in February after declining 0.3% in January, representing the third consecutive monthly contraction
Capacity utilization declined to 78.9% from 79.1% (consensus 79.5%)
The NAHB Housing Market Index for March fell to 53 from 55 while the Briefing.com consensus expected an increase to 56

Tomorrow's economic data will be limited to the 8:30 ET release of February Housing Starts (Briefing.com consensus 1.041 million) and Building Permits (consensus 1.07 million).

Nasdaq Composite +4.1% YTD
Russell 2000 +2.9% YTD
S&P 500 +1.1% YTD
Dow Jones Industrial Average +0.9% YTD

3:40 pm: [BRIEFING.COM]

Oil prices sold off again today on broad market weakness
WTI crude came back some, but ultimately closed below $44/barrel
Apr contract finished the day $0.95 lower at $43.94/barrel
Apr nat gas closed $0.02 lower at $2.71/MMbtu
Despite weakness in the dollar index, precious metals closed with only modest gains
Apr gold ended floor trading $2.80 higher at $1153.40/oz, while May silver gained $0.12 at $15.61/oz
May copper rose $0.01 to $2.67/lb

2:55 pm: [BRIEFING.COM] The S&P 500 (+1.2%) has climbed to a new session high with one hour remaining in the trading day.

The utilities sector (+1.7%) held the lead through a large portion of the session, but health care (+2.1%) has claimed the top spot in recent going. The largest countercyclical sector by weight has been supported by biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 352.34, +7.01) trading higher by 2.1%, which puts the ETF on track to finish at a new record high.

On the downside, the materials sector (-0.4%) remains in negative territory.

2:25 pm: [BRIEFING.COM] Recent action saw the S&P 500 (+1.1%) inch to a fresh high while the Nasdaq (+1.0%) follows right behind.

Today's solid advance has helped the major averages cut into their month-to-date losses. The S&P 500 has narrowed its March decline to 1.3% while the Nasdaq remains lower by 0.8% for the month.

Meanwhile, eight of ten sectors continue holding March losses between 0.2% (consumer discretionary) and 5.0% (energy) while health care and financials are both up near 1.0% for the month. Fittingly, the two sectors are among today's leaders with respective gains of 2.1% and 1.1%.

2:00 pm: [BRIEFING.COM] The major averages remain near their best levels of the day.

The industrial production data were a disappointment this morning. Manufacturing production has no declined for three consecutive months.

Industrial production increased 0.1% in February after declining a negatively revised 0.3% (from +0.2%) in January. The Briefing.com Consensus expected industrial production to increase 0.3%.

There will likely be a lot of talk about weather conditions negatively impacting the February industrial production data. But, in actuality, the cold weather played a bigger role in boosting production than reducing it. Utilities production jumped 7.3% in February as cold weather increased the demand for heating.

Meanwhile, the weakness in manufacturing can be traced to a sizable reduction in motor vehicles production, which isn't a a substantial industry in the heavily impacted Northeast.

1:35 pm: [BRIEFING.COM] The major U.S. indices continue to sport solid gains to begin the week while heavy attention focuses on new multi-year lows for WTI crude oil futures.

In equities, Valeant Pharma (VRX 201.93, +4.50) earlier announced it has increased its all-cash offer to buy Salix Pharma (SLXP 172.80, +3.40) to $173 per share following a competing bid late last week from Endo Pharma (ENDP 89.35, +2.02), which offered to buy Salix for $175 in cash and stock. Following Valeant's increased offer this morning, Endo announced it has withdrawn its prior offer to focus on its growth strategies and active pipeline. The competing bid from Endo pressured Valeant to raise its bid. Valeant is now paying an additional $1 bln to acquire Salix.

1:00 pm: [BRIEFING.COM] The major averages hold solid midday gains with the Dow (+1.0%) and S&P 500 (+1.0%) trading ahead of the Nasdaq (+0.9%) and Russell 2000 (+0.4%).

Equity indices climbed out of the gate and made the bulk of their move during the initial 30 minutes with countercyclical utilities (+2.2%) and health care (+2.1%) in the lead; however, most cyclical groups follow right behind while the materials sector (-0.4%) represents the lone decliner.

The growth-sensitive materials space has been pressured by DuPont (DD 78.28, -2.22), which trades lower by 2.7% after Bank of America/Merrill Lynch downgraded the stock to 'Underperform' from 'Buy.'

Elsewhere, another commodity-linked sector-energy (+0.5%)-has climbed out of the red in recent action even though crude oil remains lower by 3.4% at $43.33/bbl after marking a new low for 2015. Earlier, OPEC's monthly oil market report indicated that global demand growth is unlikely to increase from the previous month's 1.17 million barrels/day.

Interestingly, crude oil has retreated even though the Dollar Index (99.49, -0.84) trades lower by 0.8% with the greenback giving ground to the euro (1.0600).

The dollar extended its retreat following today's disappointing economic data, but the stock market has shrugged off the news, suggesting participants are not overly worried that the Fed will strike an unexpectedly hawkish tone in its policy statement scheduled for a Wednesday release.

Treasuries hover near their highs with the 10-yr yield down three basis points at 2.08%.

Economic data included Empire Manufacturing Index, Industrial Production, and NAHB Housing Market Index:

The Empire Manufacturing Survey for March registered a reading of 6.9, which was below the prior month's reading of 7.8 and below the Briefing.com consensus estimate, which was pegged at 8.8
Industrial production increased 0.1% in February after declining a negatively revised 0.3% (from +0.2%) while the Briefing.com consensus expected an increase of 0.3%
Manufacturing production declined 0.2% in February after declining 0.3% in January, representing the third consecutive monthly contraction
Capacity utilization declined to 78.9% from 79.1% (consensus 79.5%)
The NAHB Housing Market Index for March fell to 53 from 55 while the Briefing.com consensus expected an increase to 56

12:30 pm: [BRIEFING.COM] Equity indices continue holding solid gains with the S&P 500 (+1.0%) having spent the past 90 minutes in a five-point range. The benchmark index added 17 points during the opening 30 minutes and has built on that advance in recent action.

Countercyclical health care (+1.9%) and utilities (+2.2%) have held the lead since the start while the other two defensively-oriented groups-consumer staples (+0.8%) and telecom services (+0.8%)-trade not far behind the broader market. Biotechnology has contributed to the outperformance of the health care sector, but the group has not had the same effect on the Nasdaq Composite (+0.8%).

The tech-heavy index trails the S&P 500 with Intel (INTC 30.75, -0.18), Microsoft (MSFT 41.34, -0.04), and Facebook (FB 77.47, -0.57) down between 0.1% and 0.7%.

11:55 am: [BRIEFING.COM] The major averages remain near their highs with the Dow Jones Industrial Average (+1.2%) trading just ahead of the S&P 500 (+1.1%).

The price-weighted Dow outperforms as 28 of its 30 components hold gains and 20 are up at least 1.0% apiece. To that point, 3M (MMM 166.19, +3.45), Procter & Gamble (PG 83.49, +1.66), and UnitedHealth (UNH 117.78, +2.53) lead with gains between 2.1% and 2.3%.

On the downside, Intel (INTC 30.84, -0.09) and DuPont (DD 78.80, -1.70) trade in the red, but their underperformance has had little impact on the index; however, the two names have kept their respective sectors behind the broader market.

11:25 am: [BRIEFING.COM] Equity indices have inched to new highs with the S&P 500 now up 1.1%.

Four of six cyclical sectors sport gains between 1.0% and 1.3% while energy (-0.2%) and materials (-0.3%) remain in the red. On the upside, the industrial sector is the top performer with transport stocks fueling the strength. The Dow Jones Transportation Average is higher by 1.5% with all 20 components showing gains. Airlines and trucking companies are out in the lead thanks to today's drop in crude oil. JetBlue Airways (JBLU 18.81, +0.69) and CH Robinson (CHRW 75.12, +1.67) trade higher by 3.8% and 2.3%, respectively.

Elsewhere, Treasuries have ticked down from their highs, but the 10-yr yield remains lower by three basis points at 2.08%.

10:55 am: [BRIEFING.COM] The major averages hover near their session highs that were established during the opening hour of action. The S&P 500 trades higher by 0.9% while the Russell 2000 (+0.5%) underperforms.

Countercyclical utilities (+2.0%) and health care (+1.8%) have shown relative since the opening bell and both groups remain in the lead at this juncture. The utilities sector has narrowed its quarter-to-date loss to 6.8% while health care has received strong support from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 350.55, +5.22) trades higher by 1.5%.

On the flip side, the materials sector (-0.3%) has been pressured by DuPont (DD 78.94, -1.56), which trades down 1.9% after Bank of America/Merrill Lynch downgraded the stock to 'Underperform' from 'Buy.' Elsewhere, the energy sector (-0.4%) also lags as crude oil trades lower by 3.8% at $43.16/bbl.

10:35 am: [BRIEFING.COM]

Oil prices are taking a hit again
OPEC's monthly report was released this morning, but the current oil storage situation is likely a larger catalyst to oil prices currently
Apr crude oil is currently -3.5% at $53.18/barrel.
Apr nat gas has been in the red all day so far and is now -1.3% at $2.69/MMBtu
The dollar index has been trading lower today, which has helped provide some support to select commodities
However, despite this weakness, precious metals are sliding lower and just hit new lows for today
Apr gold is now -0.03% at $1152/oz, while May silver is +0.3% at $15.54/oz

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.9%.

The just-released NAHB Housing Market Index for March fell to 53 from 55 while the Briefing.com consensus expected an increase to 56.

9:40 am: [BRIEFING.COM] As expected, the major averages rallied out of the gate amid broad strength. The S&P 500 trades higher by 0.5% with nine of ten sectors showing early gains.

Countercyclical groups have paced the opening move with utilities (+1.3%) and health care (+1.3%) in the lead. Meanwhile, industrials (+0.7%) and financials (+0.6%) outperform on the cyclical side while energy (-0.7%) has been pressured by a 1.8% decline in crude oil, which trades at $44.03/bbl.

Elsewhere, Treasuries have continued their advance, dropping the 10-yr yield to 2.07% (-4 bps).

The NAHB Housing Market Index for March (consensus 56) will be released at 10:00 ET.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +10.90. Nasdaq futures vs fair value: +20.40. The stock market is on track for a modestly higher open as futures on the S&P 500 trade 11 points above fair value. Index futures have spent the night in positive territory, climbing to highs shortly after the start of the European session, where equity markets hold gains across the board while the euro is higher by 0.6% against the dollar at 1.0565. Conversely, the greenback weakness has sent the Dollar Index (99.72, -0.62) lower by 0.6%, but that has provided support to equity futures.

Interestingly, the dollar weakness has not been able to prevent crude oil from sliding to a new low for the year. Currently, the energy component trades down 1.2% at $44.32/bbl after dipping below $44.00/bbl overnight.

On the economic front, the just released Industrial Production report pointed to an increase of 0.1% in February, which was below the 0.3% increase expected by the Briefing.com consensus. Capacity utilization hit 78.9% while the Briefing.com consensus expected a reading of 79.5%.

Separately, the Empire Manufacturing Survey for March (6.9; Briefing.com consensus 8.8) missed estimates while the NAHB Housing Market Index for March (consensus 56) will be released at 10:00 ET.

Treasuries hold gains with the 10-yr yield down three basis points at 2.08%.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +8.80. Nasdaq futures vs fair value: +16.70. The S&P 500 futures trade nine points above fair value.

It was a mixed showing across markets in the Asia Pacific region. China's Shanghai Composite was a clear outperformer, however, as it jumped 2.2% on the back of speculation that further policy stimulus could be in the offing.

In economic data:
India's February WPI Inflation slowed to -2.06% year-over-year from -0.39% (expected -0.70%)
South Korea's February trade surplus came in at KRW7.70 billion, as expected
Indonesia's February trade surplus widened to IDR740 million from IDR710 million (expected IDR520 million)
Australia's February New Motor Vehicle Sales +2.9% (consensus 1.5%; last -1.9%)

------

Japan's Nikkei finished the day with a fractional loss, fading after a rally effort early in the session. The energy (-2.7%) and utilities (-1.0%) sectors were the weakest areas. The communications sector (+0.4%) was the best-performing sector. Individual winners included Fukuoka Financial Group (+4.6%), COMSYS Holdings Corp (+4.4%), and Tokyo Dome Corp (+4.0%). Decliners were led by Inpex Corp (-4.3%), Sony Corp (-3.8%), and Chugai Pharmaceutical Co (-3.7%)
Hong Kong's Hang Seng increased 0.5%, paced by strength in the communications (+2.0%), consumer non-cyclical (+0.7%), utilities (+0.6%), and financial (+0.4%) sectors. Ping An Insurance (+3.2%), Belle International Holdings (+3.2%), China Mobile (+2.7%), China Life Insurance (+2.2%), and Sino Land Co (+2.2%) were the top gainers.
China's Shanghai Composite jumped 2.2% and closed at its highs for the session. Gains were fueled by policy stimulus expectations after Premier Li Keqiang said China has the room and tools to intervene should weakening growth negatively impact employment. Technology and financial shares led a broad-based advance.

Major European indices trade higher across the board with Germany's DAX (+1.5%) in the lead. The euro has climbed off Friday's lows and currently trades higher by 0.3% against the dollar at 1.0530. Elsewhere, Russia's President Vladimir Putin made his first public appearance in ten days and placed his country's navy in the Arctic on combat alert.

Economic data was limited:
Swiss January Retail Sales -0.3% year-over-year (expected 2.6%; prior 1.9%) while February PPI -1.4% month-over-month (consensus 0.4%; last -0.6%); -3.6% year-over-year (expected -3.3%; prior -2.7%)

------

UK's FTSE is higher by 0.4% with consumer names in the lead. Associated British Foods, Tesco, and Imperial Tobacco are up between 1.7% and 2.9%. Energy-related names underperform with Tullow Oil and Petrofac down 2.2% and 1.0%, respectively.
France's CAC trades up 0.7% amid strength in financials. BNP Paribas, Credit Agricole, and Societe Generale hold gains between 1.2% and 1.5%. Lafarge is the weakest performer, down 4.5% after Holcim rejected the terms of a proposed merger.
Germany's DAX has climbed 1.5% amid broad strength. BMW, Merck, and K+S are up between 1.8% and 2.7%. Utilities lag with E.On and RWE both down near 1.0%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +6.80. Nasdaq futures vs fair value: +12.80. The S&P 500 futures trade seven points above fair value.

The Empire Manufacturing Survey for March registered a reading of 6.9, which was below the prior month's reading of 7.8. It was also below the Briefing.com consensus estimate, which was pegged at 8.8.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +10.80. U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover six points above fair value, likely drawing some support from dollar weakness that has the Dollar Index (99.93, -0.40) trading lower by 0.4%.

Treasuries hold modest gains with the 10-yr yield lower by a basis point at 2.10%.

The Empire Manufacturing report for March (Briefing.com consensus 8.8) will be released at 8:30 ET while February Industrial Production (consensus 0.3%) and Capacity Utilization (expected 79.5%) will be announced at 9:15 ET. The day's data will be topped off with the 10:00 ET release of NAHB Housing Market Index for March (consensus 56).

In U.S. corporate news of note:

DuPont (DD 78.86, -1.64): -2.0% after Bank of America/Merrill Lynch downgraded the stock to 'Underperform' from 'Buy.'
Netflix (NFLX 430.00, -8.40): -1.9% after Evercore ISI downgraded the stock to 'Sell' from 'Neutral.'

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite +2.3%, Hong Kong's Hang Seng +0.5%, and Japan's Nikkei ended flat.
In economic data:
India's February WPI Inflation slowed to -2.06% year-over-year from -0.39% (expected -0.70%)
South Korea's February trade surplus came in at KRW7.70 billion, as expected
Indonesia's February trade surplus widened to IDR740 million from IDR710 million (expected IDR520 million)
Australia's February New Motor Vehicle Sales +2.9% (consensus 1.5%; last -1.9%)
In news:
China's Shanghai Composite surged after Premier Li Keqiang said the government will respond if growth slows more than expected. Premier Li also mentioned China has "relatively big" room for maneuvering policy.

Major European indices trade higher across the board. UK's FTSE +0.5%, France's CAC +0.8%, and Germany's DAX +1.2%. Elsewhere, Italy's MIB +0.9% and Spain's IBEX +0.8%.
Economic data was limited:
Swiss January Retail Sales -0.3% year-over-year (expected 2.6%; prior 1.9%) while February PPI -1.4% month-over-month (consensus 0.4%; last -0.6%); -3.6% year-over-year (expected -3.3%; prior -2.7%)
Among news of note:
Russia's President Vladimir Putin made his first public appearance in ten days and placed his country's navy in the Arctic on combat alert.
The euro has climbed off Friday's lows and currently trades higher by 0.3% against the dollar at 1.0530.

5:56 am: [BRIEFING.COM] Nikkei...19246.06...-8.20...-0.30%. Hang Seng...23949.55...+126.30...+2.30%.

5:56 am: [BRIEFING.COM] FTSE...6776.38...+36.30...+0.50%. DAX...12016.20...+114.60...+1.00%.

5:55 am: [BRIEFING.COM] S&P futures vs fair value: +6.75 Nasdaq futures vs fair value: +13.25

Special thanks to Bloomberg, Briefing, 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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