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 Post subject: March 20th Friday Trade Results - Profit $200.00
PostPosted: Fri Mar 20, 2015 5:25 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $200.00 dollars or +2.00 points, Emini ES ($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 @ $200.00 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=2032

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

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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


4:10 pm: [BRIEFING.COM] The major averages ended the week on an upbeat note with the Dow Jones Industrial Average (+0.9%) in the lead. The price-weighted index ended the week higher by 2.1% while the S&P 500 (+0.9%) gained 2.7% for the week.

Equity indices climbed throughout the session with trading volume running well above average due to today's quadruple witching. As a result, more than two billion shares changed hands at the NYSE floor.

Meanwhile, the Dollar Index (97.89, -1.37), which was a point of focus throughout the week, fell 1.4% to narrow its March gain to 2.5%. Notably, the euro gained 1.3%, climbing to 1.0800 against the greenback with the move partially supported by upbeat comments from the Eurogroup. Specifically, Greece has agreed to present a new reform plan within the next few days in order to receive funds needed to prevent a liquidity shortage.

Today's pullback in the dollar was a supportive factor for the commodity market. Crude oil settled higher by 2.4% at $46.58/bbl, but backed off its best level of the session after the latest Baker Hughes rig count registered its 15th consecutive weekly decline (-56 to 1069). Meanwhile, the energy sector (+1.4%) finished well ahead of other groups.

Elsewhere among cyclical sectors, financials (+1.3%) and consumer discretionary (+1.1%) outperformed with the discretionary sector rallying behind homebuilders after KB Home (KBH 15.26, +1.19) reported better than expected results. Shares of KBH jumped 8.4% while the broader iShares Dow Jones US Home Construction ETF (ITB 27.82, +0.54) gained 2.0%. Meanwhile, apparel and luxury retailers were a bit more mixed. Dow component Nike (NKE 101.98, +3.66) spiked 3.7% after beating bottom-line estimates while Tiffany & Co (TIF 82.99, -3.38) lost 3.9% after below-consensus revenue and light guidance overshadowed in-line earnings.

Also of note, the technology sector (+0.5%) slumped to the bottom of the leaderboard during the final minutes as Apple (AAPL 126.05, -1.45) fell to a fresh session low.

Over on the countercyclical side, the consumer staples sector (+1.2%) outperformed while health care (+0.8%) lagged. Despite today's underperformance, health care gained 4.5% for the week, ending ahead of other sectors. Volatility in the biotech space pressured the sector from its early high as the iShares Nasdaq Biotechnology ETF (IBB 366.52, +1.27) narrowed its gain to 0.4% after being up near 2.0% at the start. The early strength stemmed from a 9.8% spike in the shares of Biogen Idec (BIIB 475.98, +42.33) after the company issued an encouraging report on a developmental drug for the treatment of Alzheimer's disease. For its part, the biotechnology ETF logged a 5.7% gain for the week.

Treasuries climbed throughout the morning, ending on their highs with the 10-yr yield lower by five basis points at 1.93%.

Monday's economic data will be limited to the Existing Home Sales report for February, which will be released at 10:00 ET.

Nasdaq Composite +6.1% YTD
Russell 2000 +5.1% YTD
S&P 500 +2.4% YTD
Dow Jones Industrial Average +1.7% YTD

Week in Review: Fed in Focus

The stock market rebounded from the previous 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) weighed after Bank of America/Merrill Lynch downgraded the stock to 'Underperform' from 'Buy.'

The market ended Tuesday on a mixed note ahead of Wednesday's release of the latest policy directive from the Federal Reserve. The Nasdaq Composite added 0.2% while the S&P 500 and Dow Jones Industrial Average lost 0.3% and 0.7%, respectively. Equity indices endured some selling in the early going, but the Nasdaq spent the day ahead of the broader market thanks to relative strength in the technology sector (+0.1%). Specifically, shares of Apple (AAPL) climbed 1.7%, which underpinned the sector and the Nasdaq. Meanwhile, most large cap components struggled, which was also the case with high-beta chipmakers. The PHLX Semiconductor Index fell 0.7%. That being said, the daylong strength within the technology sector helped the broader market erase the bulk of its early decline. The Nasdaq received another measure of support from biotechnology with the iShares Nasdaq Biotechnology ETF (IBB) climbing 0.6% to a new record.

Equities spent the first half of the Wednesday session in the red, but surged into the green following the latest policy statement from the Federal Open Market Committee. The S&P 500 settled higher by 1.2% with all ten sectors ending in the green. Over the past few days, much of the discussion centered around Wednesday's FOMC Statement with participants speculating whether the central bank was going to remove its call for patience. Although the Fed took out "patient," the statement remained quite dovish as the Fed lowered its 2015 GDP forecast range to 2.3%-2.7% from 2.6%-3.0% that was expected in December. Furthermore, the central bank lowered its inflation forecast range to 0.6%-0.8% from 1.0%-1.6%. Staying on the inflation theme, the committee noted that it needs to be "reasonably confident" that inflation will move back towards the 2.0% objective before hiking rates. The S&P 500 spiked about 20 points immediately following the statement and continued its advance as the afternoon progressed. Similarly, Treasuries surged in reaction to the diminished likelihood of June rate hike with the 10-yr yield falling 10 basis points to 1.95%. The benchmark note continued its advance during electronic trading, pressuring its yield to the lowest level since early February (1.92%).

Thursday ended on a mixed note. The S&P 500 lost 0.5% after spending the entire session in negative territory while the Nasdaq Composite added 0.2%. The tech-heavy Nasdaq extended its week-to-date gain to 2.5% while the S&P 500 extended its weekly advance to 1.7%. Wednesday's dovish FOMC policy statement pressured the greenback, but the Dollar Index (99.23, +0.67) wasted no time, stringing together a swift comeback. The index added 0.7% on Thursday and returned to Tuesday's low. Notably, the euro retraced the bulk of Wednesday's move, returning below 1.0650 versus the dollar. Likewise, the dollar strength weighed on crude oil, sending the energy component lower by 2.5% to $45.50/bbl. In turn, this kept the energy sector (-1.7%) near the bottom of the barrel while the other commodity-related sector-materials (-1.7%)-finished just behind energy.

3:30 pm: [BRIEFING.COM]

Natural gas futures began the morning off higher, but lost steam and gave back all of its gains and ended the day $0.03 lower at $2.79/MMBtu.
WTI crude oil prices rallied today, but pullback below $47/barrel level. May crude ultimately ended $1.08 higher at $46.58/barrel.
Grains rose today as well...
Corn futures rallied 2.9 (or +0.11) to $3.85/bushel, while May wheat gained 3.7% (or +0.19) to $5.30/bushel.
Soybeans, ethanol and sugar futures all rose as well.
Apr gold rose $15.20 to $1184.50/oz, while May silver gained $0.74 to $16.87/oz today

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 1.1% with one hour remaining in the session. Today's advance has helped the benchmark index swing from a March loss to a gain of 0.3%. Meanwhile, the tech-heavy Nasdaq (+0.8%) underperforms today, but the index is up 1.5% for the month.

The energy sector (+1.8%) holds the lead going into the last hour while financials (+1.4%) have overtaken consumer staples (+1.2%) and consumer discretionary (+1.1%) sectors.

Elsewhere, Treasuries ended the week on their highs with the 10-yr yield at 1.93%. The benchmark yield slipped four points today and lost 18 basis points since last Friday.

2:30 pm: [BRIEFING.COM] Quiet afternoon action continues with the S&P 500 trading higher by 1.1%. The benchmark index battled with its 50-day moving average (2,065) at the start of the week, but today, the index is back within eight points of its all-time high of 2,119.59 that was registered on February 25.

Biotechnology charged out of the gate, but the iShares Nasdaq Biotechnology ETF (IBB 366.09, +0.84) has slumped from its opening high. That being said, the high-beta ETF is still up 8.4% for the month and higher by 20.6% since the end of 2014. Meanwhile, the health care sector is higher by 4.6% month-to-date and up 9.4% for the first quarter.

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

There were no economic releases today, and our thoughts turn to next week. Highlights in next week's economic calendar include February new and existing home sales, CPI, and the third estimate to Q4 2014 GDP. The most important release, at least economically, may be the February durable goods report.

There have been several poor manufacturing surveys across multiple regions, and many of them -- such as Dallas and Kansas City -- cannot be directly blamed on inclement weather conditions. Meanwhile, the national ISM New Orders Index fell slightly to 52.5 in February from 52.9. That was the lowest reading since March 2013.

The hard durables data will give a better look at whether a manufacturing slowdown is accurate.

1:30 pm: [BRIEFING.COM] The major U.S. indices have added to today's strong gains, setting new session highs in recent trade. If the S&P can maintain its gains, it will end the week with a 2.9% gain.

The weekly Baker Hughes (BHI 62.35, +1.42) rig report showed a 15th consecutive weekly decline in the overall U.S. rig count. While the data showed a decline of 56 total U.S. active rigs (41 oil & 15 gas), the rate of decline has been easing with last week's report showing a decline of 67, and 75 the prior week. Despite previous impacts in the past, WTI crude futures (+3.25% to $47/bbl) saw little reaction to the report.

Despite a quiet news flow, volume is heavier than normal due to the quadruple witching options expiration mentioned earlier.

1:00 pm: [BRIEFING.COM] The major averages sport solid midday gains with the Dow Jones Industrial Average (+1.1%) and S&P 500 (+1.0%) trading ahead of the Nasdaq Composite (+0.9%).

Equity indices have rallied steadily through the first half of the Friday session amid a pullback in the Dollar Index (97.69, -1.58). The index currently sits on its low, down 1.6%, with the euro trading higher by 1.6% against the dollar (1.0840).

In turn, the greenback weakness has helped crude oil reverse from its overnight low. The energy component trades higher by 3.5% at $47.10/bbl after trading below $45.00/bbl earlier. As a result, the energy sector (+1.8%) sits well ahead of the remaining nine groups.

The energy sector has extended its weekly gain to 3.8% versus a 2.8% advance for the S&P 500 while most other cyclical groups also display relative strength. The consumer discretionary sector (+1.3%) has traded ahead of the broader market since the start amid strength in homebuilders. The iShares Dow Jones US Home Construction ETF (ITB 28.07, +0.79) has jumped 2.9% after KB Home (KBH 15.23, +1.15) reported better than expected earnings. In other sector earnings, Tiffany & Co (TIF 83.48, -2.89) has slumped 3.4% after below-consensus revenue and light guidance overshadowed in-line earnings.

Elsewhere, the health care sector (+0.7%) is the weakest performer despite showing opening strength that was fueled by biotechnology after Biogen Idec (BIIB 471.93, +38.23) announced positive results from a trial. Shares of BIIB have surged 8.8% while the iShares Nasdaq Biotechnology ETF (IBB 366.40, +1.15) has narrowed its gain to 0.3% after being up near 2.0% at the start.

In the Treasury market, the 10-yr note has climbed steadily since early morning hours with its yield lower by four basis points at 1.93%.

12:25 pm: [BRIEFING.COM] Buyers remain in control with the S&P 500 (+1.0%) trading within a point of its session high.

Earlier, we mentioned that biotechnology had struggled to maintain its opening strength. The iShares Nasdaq Biotechnology ETF (IBB 366.85, +1.60) continues trailing the broader market, but the ETF is now back in the green, trading higher by 0.4%. Meanwhile, Biogen Idec (BIIB 468.84, +35.19) has extended its gain to 8.1% after announcing positive trail data. For its part, the broader health care sector (+0.6%) trails the broader market.

The remaining countercyclical sectors are mixed with utilities (+0.4%) showing relative weakness while consumer staples (+1.0%) and telecom services (+0.9%) trade near the S&P 500.

11:55 am: [BRIEFING.COM] Not much change in the major averages with the S&P 500 trading higher by 0.9%.

Including its current gain, the benchmark index is on track to end the week higher by 2.7%. Furthermore, the index has erased its March decline and now sports a slim month-to-date gain of 0.2%.

Similar to the S&P 500, nine of ten sectors are on track for weekly gains between 1.6% (consumer staples and financials) and 4.4% (health care) while the materials sector (+0.8%) trades a little behind the broader market today and is down 0.7% for the week.

Elsewhere, Treasuries remain near their highs with the 10-yr yield lower by three basis points at 1.94%.

11:25 am: [BRIEFING.COM] Equity indices have added to their gains as the relatively quiet session continues.

The energy sector (+2.0%) remains in the lead while two other cyclical sectors-financials (+1.1%) and consumer discretionary (+1.2%)-also sport gains of 1.0% or more.

Notably, the consumer discretionary sector has received support from homebuilders after KB Home (KBH 15.10, +1.02) reported better than expected earnings. The stock has jumped 7.2% while the iShares Dow Jones US Home Construction ETF (ITB 27.88, +0.60) is higher by 2.2%. Similarly, media-related names also display relative strength while retailers have struggled to keep up with the SPDR S&P Retail ETF (XRT 100.80, +0.47) higher by 0.5%.

10:55 am: [BRIEFING.COM] The major averages hover near their recently-established highs, but the Nasdaq (+0.6%) has slipped behind the S&P 500 (+0.7%) after showing relative strength in the early going.

The Nasdaq outperformed at the start with help from biotechnology, but iShares Nasdaq Biotechnology ETF (IBB 365.16, -0.08) has slipped into the red after being up near 2.0% at the start of the session. The health care sector has narrowed its gain to 0.3% while Biogen Idec (BIIB 459.27, +25.62) remains higher by 5.9%.

However, the broader market has been able to overcome the pullback in biotechnology with the energy sector (+1.6%) holding the lead.

10:35 am: [BRIEFING.COM]

Commodities are getting a boost this morning due to weakness in the dollar index, which slide lower in morning trade.
Major commodities such as crude oil, natural gas, gold, silver and copper all hit new highs for the day in recent trade.
Oil futures rallied as a result this morning, both WTI and Brent crude oils.
However, oil is pulling back some, while metals are holding up better
Apr crude is now +2.4% at $46.60/barrel, off its $47.36 HoD.
Gold, silver and copper futures are sitting near today's highs in current activity
Apr gold is +1% at $1180.30/oz, while May silver is +3.2% at $16.64/oz
May copper has been strong all morning as well and is now +2.6% at $2.73/lb

9:55 am: [BRIEFING.COM] Equity indices continue hovering near their early highs with the S&P 500 up 0.7%.

All ten sectors trade in the green with just three groups trailing the broader market. Industrials (+0.5%), materials (+0.2%), and telecom services (+0.3%) underperform while the remaining sectors trade in-line with or ahead of the S&P 500.

The energy sector (+1.6%) has seized the lead while crude oil has extended its advance to 3.5% at $47.11/bbl.

9:40 am: [BRIEFING.COM] As expected, the major averages have rallied out of the gate. The Nasdaq Composite leads, trading higher by 0.7% while the S&P 500 (+0.6%) follows not far behind with all ten sectors showing early gains.

The health care sector (+1.0%) holds the lead with notable help from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 371.95, +6.70) is higher by 1.8% with Biogen Idec (BIIB 472.00, +38.34) trading up 8.7% after the company announced positive results from one of its trials.

Over on the cyclical side, energy (+1.0%) leads with support from crude oil, which trades higher by 2.0% at $46.44/bbl.

Treasuries have climbed to new highs, pressuring the 10-yr yield to 1.94% (-3 bps).

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +42.20. The stock market is on track for a higher start as futures on the S&P 500 trade 16 points above fair value.

Index futures have spent the entire night in positive territory and received a sentiment boost from Europe where Greece is expected to present a new reform plan within the next few days in order to receive funds needed to prevent a liquidity shortage.

Additionally, futures have been underpinned by early strength in the biotechnology group after Biogen Idec (BIIB 466.00, +32.35) announced positive results from one of its trials. The stock has jumped 7.5% in pre-market action while iShares Nasdaq Biotechnology ETF (IBB 374.16, +8.91) is on track to open higher by 2.4%.

Investors did not receive any economic data today, which has contributed to range-bound action in the Treasury market. Currently, the 10-yr note holds a slim gain with its yield lower by two basis points at 1.95%. On a related note, the Dollar Index (98.26, -1.00) is lower by 1.0%, widening this week's decline to 2.2%.

It is also worth mentioning that quadruple witching is taking place today, which will increase the trading volume.

8:54 am: [BRIEFING.COM] S&P futures vs fair value: +14.70. Nasdaq futures vs fair value: +38.70. The S&P 500 futures trade 15 points above fair value.

Asia was somewhat mixed with Hong Kong, South Korea and Thailand closing down, while Japan and China remained both closed higher, although both did have a rocky session trading on both sides of the flat line all night. There was no significant macro data out of the region, so catalysts were few and far between during the night. The BoJ minutes did not provide any significant surprises. Probably the most notable take-away from the release was that that some of the members expressed concern over the recent volatility in the JGBs, as well as adding that the current pace of bond purchases may be unsustainable.

Economic data was limited:
Hong Kong's CPI accelerated to 4.6% year-over-year from 4.1% (consensus 4.2%)
New Zealand's Credit Card Spending +5.8% year-over-year (prior 6.2%)

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Japan's Nikkei traded 0.4% stronger on the day. Consumer Discretionary (+1.4%) and IT (+0.5%) highlighted the session as the best performing sectors, while Consumer Staples and Industrials brought up the rear, both trading flat on the day.
Hong Kong's Hang Seng closed down 0.4% with Tencent Holdings (-1.7%) and Petro China (-0.7%) weighing on the index.
China's Shanghai closed the week strong, with gains of over 1%. Brokerage stocks saw strength during the Mainland's session, with interest by the masses picking up with the Shanghai Composite flirting with multi-year highs.

Major European indices trade higher across the board with Germany's DAX (+1.3%) in the lead. According to the Eurogroup, Greece will present a new reform plan within the next few days in order to receive funds needed to prevent a liquidity shortage.

In economic data:
Eurozone January Current Account surplus expanded to EUR29.40 billion from EUR22.50 billion (expected surplus of EUR21.30 billion)
Germany's February PPI +0.1% month-over-month (expected 0.2%; last -0.6%); -2.1% year-over-year (consensus -1.9%; last -2.2%)
UK's February Public Sector Net Borrowing GBP6.22 billion (expected GBP7.70 billion; prior -GBP8.93 billion)
Spain's trade deficit widened to EUR2.60 billion from EUR1.82 billion (expected deficit of EUR1.95 billion)

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UK's FTSE is higher by 0.3% with energy and consumer names showing strength. WM Morrison Supermarkets, Sports Direct International, Tullow Oil, and BG Group are up between 0.3% and 1.6%. Miners lag with Anglo American, Fresnillo, and Glencore showing losses between 0.5% and 1.0%.
In France, the CAC trades up 0.7% with growth-sensitive names in the lead. Lafarge, Legrand, Solvay, and Cie de Saint-Gobain sport gains between 1.4% and 2.9%. Telecom names lag with Alcatel-Lucent and Orange down 1.2% and 0.4%, respectively.
Germany's DAX has jumped 1.3% with most components in positive territory. Heavyweights Deutsche Bank and BASF are both up near 2.0% while K+S trades lower by 1.0%.

8:24 am: [BRIEFING.COM] S&P futures vs fair value: +11.90. Nasdaq futures vs fair value: +33.20. U.S. equity futures have extended to new highs not long ago, suggesting the S&P 500 will build on its weekly gain. The benchmark index ended yesterday's session up 1.8% for the week versus a 2.5% week-to-date gain for the Nasdaq.

The tech-heavy Nasdaq has shown strength throughout the week, largely due to the relative strength in biotechnology. Today, the industry group is on course for an upbeat start once again after Biogen Idec (BIIB 464.50, +30.85) announced positive results from one of its trials. The stock has jumped 7.1% in pre-market action.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +10.80. Nasdaq futures vs fair value: +26.90. U.S. equity futures trade near their pre-market highs following a steady overnight climb. The S&P 500 futures hover 11 points above fair value.

Meanwhile, the Dollar Index (98.79, -0.48) has retreated modestly and currently trades lower by 0.5%, but the slight pullback has not prevented crude oil from sliding lower by 0.7% to $45.20/bbl.

Treasuries hold slim gains with the 10-yr yield down a basis point at 1.96%.

Investors will not receive any notable economic data today.

In U.S. corporate news of note:

Darden Restaurants (DRI 68.00, +3.13): +4.8% in reaction to better than expected earnings and upbeat guidance.
Nike (NKE 102.83, +4.51): +4.6% after beating bottom-line estimates on light revenue and guiding for no growth in futures orders.
Tiffany & Co (TIF 83.12, -3.25): -3.8% after below-consensus revenue and light guidance overshadowed in-line earnings.

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +0.4%, China's Shanghai Composite +1.0%, and Hong Kong's Hang Seng -0.4%.
Economic data was limited:
Hong Kong's CPI accelerated to 4.6% year-over-year from 4.1% (consensus 4.2%)
New Zealand's Credit Card Spending +5.8% year-over-year (prior 6.2%)
In news:
Bank of Japan Governor Haruhiko Kuroda said he still expects CPI to hit the 2.0% target during fiscal year 2015 even though the BoJ lowered its inflation outlook earlier this week

Major European indices trade higher across the board. UK's FTSE +0.1%, France's CAC +0.2%, and Germany's DAX +1.0%. Elsewhere, Italy's MIB +0.4% and Spain's IBEX +0.8%.
In economic data:
Eurozone January Current Account surplus expanded to EUR29.40 billion from EUR22.50 billion (expected surplus of EUR21.30 billion)
Germany's February PPI +0.1% month-over-month (expected 0.2%; last -0.6%); -2.1% year-over-year (consensus -1.9%; last -2.2%)
UK's February Public Sector Net Borrowing GBP6.22 billion (expected GBP7.70 billion; prior --GBP8.93 billion)
Spain's trade deficit widened to EUR2.60 billion from EUR1.82 billion (expected deficit of EUR1.95 billion)
Among news of note:
According to the Eurogroup, Greece will present a new reform plan within the next few days in order to receive funds needed to prevent a liquidity shortage

5:56 am: [BRIEFING.COM] S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +16.80.

5:56 am: [BRIEFING.COM] Nikkei...19560.22...+83.70...+0.40%. Hang Seng...24375.24...-93.70...-0.40%.

5:56 am: [BRIEFING.COM] FTSE...6972.59...+10.30...+0.20%. DAX...11963.33...+63.90...+0.50%.

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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