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 Post subject: March 24th Tuesday Trade Results - Profit $845.00
PostPosted: Wed Mar 25, 2015 2:02 am 
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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 @ ($30.00) dollars or -0.30 points, Emini ES ($ES_F) futures @ $875.00 dollars or +17.50 points, Light Crude Oil CL ($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 @ $845.00 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=2034

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 stock market registered its second consecutive decline on Tuesday with the S&P 500 retreating 0.6%. The benchmark index ended in-line with the Dow Jones Industrial Average while the Nasdaq Composite (-0.3%) outperformed slightly.

Equity indices traded near their flat lines through the first half of the session before sliding to lows during afternoon action. All ten sectors finished the day in negative territory with technology (-0.3%) registering the slimmest loss.

Also of note, the Dollar Index (97.15, +0.12) was on track for its third consecutive decline, but an early morning rebound following an in-line CPI report (+0.2%) helped the Index finish with a slim gain. Meanwhile, crude oil endured some intraday volatility before settling higher by 0.1% at $47.51/bbl.

Strikingly, crude's flat finish could not stop the energy sector (-0.8%) from ending the day among the laggards. Notably, Whiting Petroleum (WLL 30.91, -7.48) sank 19.5% after pricing a secondary share and note offering.

Elsewhere among influential sectors, financials (-0.9%) and health care (-0.9%) lagged while the remaining groups settled closer to their flat lines.

The top-weighted countercyclical group-health care-slumped during afternoon action after showing early strength that was fueled by biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 355.95, -2.33) was up more than 1.0% in the early going, but settled lower by 0.7% to extend this week's decline to 2.9%.

The afternoon pullback in biotechnology sent the Nasdaq into negative territory, but the index still finished ahead of the broader market thanks to the relative strength among several large cap names. Google (GOOGL 577.54, +12.17) was a clear standout, surging 2.2%, after announcing that Ruth Porat will become the company's new CFO after holding the same position at Morgan Stanley (MS 36.24, -0.07).

Similar to Google, social media names displayed strength with Facebook (FB 85.31, +0.88), LinkedIn (LNKD 264.16, +2.32), and Twitter (TWTR 51.47, +3.01) gaining between 1.0% and 6.2% with Twitter surging to its best level since late October.

In the Treasury market, the 10-yr note spent the bulk of the day near its flat line before spiking to a fresh high in the afternoon. The benchmark yield fell four basis points to 1.87%.

Today's participation was below average with roughly 735 million shares changing hands at the NYSE floor.

Economic data included CPI, FHFA Housing Price Index, and New Home Sales:

The CPI increased 0.2% in February after decreasing 0.7% in January, which is what the Briefing.com consensus expected.
An uptick in energy prices catalyzed the first monthly increase in consumer prices since October. Energy prices rose 1.0% in February after declining 9.7% in January. A 2.4% increase in gasoline prices was a main contributor to higher energy prices.
Food prices increased 0.2% in February after reporting no change in January.
Excluding food and energy, core CPI increased 0.2% for the second consecutive month while the consensus expected an increase of 0.1%
The FHFA Housing Price Index for January rose 0.3%, which followed a revised increase of 0.7% (from 0.8%) in December
New home sales increased 7.8% in February to 539,000 from an upwardly revised 500,000 (from 481,000) in January while the Briefing.com consensus expected a decline to 465,000
Higher mortgage rates didn't seem to harm sales as 593,000 new homes were sold, representing the highest rate since February 2008

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while the Durable Orders report (Briefing.com consensus 0.4%) will be reported at 8:30 ET.

Nasdaq Composite +5.5% YTD
Russell 2000 +5.0% YTD
S&P 500 +1.6% YTD
Dow Jones Industrial Average +1.1% YTD

3:35 pm: [BRIEFING.COM]

WTI crude oil consolidated near the unchanged line in afternoon trade, ultimately closing pit trading $0.09 higher at $47.53/barrel.
May natural gas was in positive territory all day, finished the session $0.08 higher at $2.81/MMBtu
Apr gold climbed back to today's high in afternoon trade, ending pit trading $3.80 higher at $1191.50/oz.
May silver rose $0.04 to $16.94/oz.
Copper inched lower in late-day trade, ending floor trading $0.01 higher at $2.80/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.4% with one hour remaining in the session. The benchmark index spent the first half of the day within a spitting distance of its flat line, but the afternoon has featured a retreat to fresh lows for the day.

All ten sectors are now in the red, but only the utilities space (-1.2%) displays a loss larger than 0.7%, suggesting investors are not exactly rushing for the exits. To that point, the CBOE Volatility Index (13.43, +0.02) sits just above its flat line after climbing off its session low.

Market breadth remains negative with 1.2 issues trading in the red for each advancer at the NYSE while the Nasdaq (-0.1%) breath is essentially flat as the index continues showing relative strength.

2:30 pm: [BRIEFING.COM] The major U.S. indices have continued to sell off in recent trade, establishing new session lows.

With this downtick, all S&P sectors are now negative on the day, led by the utlities sector (-1.1%)

Despite the weakness in the broad market, shares of Google (GOOG 572.04, +13.24) are outperforming after the company earlier announced that Ruth Porat, currently CFO at Morgan Stanley (MS 36.28, -0.03), will be joining the tech giant as its new CFO effective May 26, 2015. Elsewhere, late 2014 IPO Diplomat Pharmacy (DPLO 32.16, +4.37) is higher by 15.7% after announcing a secondary offering, including shares being sold by selling shareholders. Diplomat, which debuted on the NYSE in early October after pricing at $13 per share, is now up 147% since going public. Conversely, Whiting Petroleum (WLL 30.90, -7.49) shares are under heavy pressure after the company announced it will raise $1 bln in an offering of 35 mln shares of common stock and also an offering of $1 bln in convertible senior notes. Whiting, lower by 19.5% on the offering news, has been a frequent name in the news lately due to rumors that the oil & gas explorer and producer had attracted heavy interest from potential acquirers.

2:00 pm: [BRIEFING.COM] Equity indices remain near their session lows.

There has been talk that much of weakness in the February economic data was the result of inclement weather conditions. We've argued against that theory, and the February new home sale data provided more evidence for our viewpoint.

New home sales increased 7.8% in February to 539,000 from an upwardly revised 500,000 (from 481,000) in January. The Briefing.com Consensus expected new home sales to decline to 465,000.

February was the strongest selling month since 593,000 new homes were sold in February 2008.

The weather factor was debunked as sales in the Northeast increased 152.9% in February to 43,000 from 17,000 in January.

1:30 pm: [BRIEFING.COM] Equity indices hover near their lowest levels of the day with the Nasdaq (+0.1%) hanging onto a slim gain.

All in all, today's session has been very quiet with the S&P 500 (-0.3%) trading inside a ten-point range. However, if technology (+0.2%) joins the remaining sectors in negative territory, the benchmark index will widen its trading range to the downside.

Elsewhere, Treasuries had spent the bulk of the day near their flat lines, but the 10-yr note has recently spiked to a fresh high following a strong 2-yr auction. The benchmark yield has slipped three basis points to 1.88%.

12:55 pm: [BRIEFING.COM] The major averages hover near their flat lines at midday with the Dow (-0.2%) and S&P 500 (-0.2%) holding slim losses while the Nasdaq Composite (+0.1%) outperforms.

Similar to yesterday, equity indices have maintained narrow ranges through the first half of the session. However, unlike yesterday, the Dollar Index (97.17, +0.14) holds a modest gain after climbing off its early morning low. The index marked its lowest level of the day after the CPI report for February showed that core CPI (+0.2%; Briefing.com consensus +0.1%) surpassed expectations.

Conversely, the intraday dollar strength has contributed to volatile action in crude oil. The energy component is currently higher by 0.4% at $47.62/bbl after marking a session high near $48.50/bbl. Meanwhile, the energy sector trades lower by 0.3% while four of the remaining five cyclical sectors also hover in the red.

Notably, the heavily-weighted financial sector trades lower by 0.6% while another influential group-technology (+0.1%)-holds the lead. The largest sector by weight has received significant support from shares of Google (GOOGL 578.18, +12.81) while the likes of Apple (AAPL 127.22, +0.01), Intel (INTC 30.94, -0.25), and Oracle (ORCL 43.96, -0.30) trade in mixed fashion.

However, the tech sector has given a boost to the Nasdaq with the index drawing additional support from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 359.51, +1.23) remains higher by 0.3% after being up near 1.2% earlier. It is worth noting that the slide from highs has pressured the health care sector (-0.3%) to its low.

Elsewhere among countercyclical groups, consumer staples and telecom services trade flat while the utilities sector (-1.1%) sits on the bottom of the leaderboard.

Treasuries have recently returned to their morning highs with the 10-yr yield lower by a basis point at 1.90%.

Economic data included CPI, FHFA Housing Price Index, and New Home Sales:

The CPI increased 0.2% in February after decreasing 0.7% in January, which is what the Briefing.com consensus expected.
An uptick in energy prices catalyzed the first monthly increase in consumer prices since October. Energy prices rose 1.0% in February after declining 9.7% in January. A 2.4% increase in gasoline prices was a main contributor to higher energy prices.
Food prices increased 0.2% in February after reporting no change in January.
Excluding food and energy, core CPI increased 0.2% for the second consecutive month while the consensus expected an increase of 0.1%
The FHFA Housing Price Index for January rose 0.3%, which followed a revised increase of 0.7% (from 0.8%) in December
New home sales increased 7.8% in February to 539,000 from an upwardly revised 500,000 (from 481,000) in January while the Briefing.com consensus expected a decline to 465,000
Higher mortgage rates didn't seem to harm sales as 593,000 new homes were sold, representing the highest rate since February 2008

12:25 pm: [BRIEFING.COM] Not much change in the market with the Dow and S&P 500 hovering near their flat lines while the Nasdaq Composite (+0.3%) remains in the lead.

A handful of sectors have returned into the red in recent action, leaving just four groups in the green. Technology (+0.3%) and consumer staples (+0.2%) hold the lead while consumer discretionary (+0.1%) and industrials (+0.1%) sport slim gains.

The discretionary sector has received support from homebuilders after today's new home sales report for February beat expectations. The iShares Dow Jones US Home Construction ETF (ITB 28.03, +0.42) trades higher by 1.5%. Meanwhile, retail names have also contributed to the relative strength with the SPDR S&P Retail ETF (XRT 101.73, +0.57) up 0.6%.

11:55 am: [BRIEFING.COM] Equity indices remain near their recent levels with the S&P 500 (+0.1%) hovering a couple points above its flat line.

The top-weighted technology sector (+0.4%) remains in the lead with shares of Google (GOOGL 580.94, +15.57) providing significant support. The stock has jumped 2.8% while other large cap names trade in mixed fashion. Apple (AAPL 127.60, +0.39) is higher by 0.3% while Intel (INTC 31.14, -0.06) trades lower by 0.2%.

Elsewhere, Treasuries remain near their flat lines with the 10-yr yield at 1.91%.

11:25 am: [BRIEFING.COM] Recent action saw the major averages extend to new highs. The Nasdaq Composite is now up 0.4% while the S&P 500 (+0.1%) follows a bit behind.

Cyclical sectors displayed relative weakness at the start of the session, but only energy (-0.2%) and financials (-0.2%) remain in negative territory at this juncture. On the flip side, the technology sector (+0.4%) leads with a handful of large cap names adding to their gains; however, high-beta chipmakers underperform with the PHLX Semiconductor Index off 0.1%.

Elsewhere, health care (+0.3%) and consumer staples (+0.3%) trade not far behind the technology sector.

10:55 am: [BRIEFING.COM] The S&P 500 remains near its flat line while the Nasdaq (+0.3%) has climbed to a fresh high for the day.

Biotechnology has contributed to the outperformance of the tech-heavy index with the iShares Nasdaq Biotechnology ETF (IBB 361.82, +3.54) trading higher by 1.0%. In addition, a handful of large cap tech names have also provided support. To that point, the technology sector (+0.2%) trades ahead of the remaining cyclical groups with Apple (AAPL 127.57, +0.36) and Google (GOOGL 578.35, +12.98) trading higher by 0.3% and 2.3%, respectively.

Elsewhere, the remaining cyclical sectors remain in the red, but consumer discretionary (unch) and industrials (-0.1%) sit just below their flat lines.

10:35 am: [BRIEFING.COM]

The dollar index erased morning losses and moved back into positive territory, which is weighing on commodies
WTI crude oil erased its gains as it pulled back off its morning higher.
Nat gas, meanwhile, has been in positive territory all day so far and is now +1.7% at $2.78/MMBtu
Copper is currently +0.3% at $2.80/lb, off its overnight high.
Apr gold is back near the flat line, now +0.1% at $1189.30/oz, while May silver is +0.2% at $16.93/oz.

10:00 am: [BRIEFING.COM] The S&P 500 has returned to its flat line.

New home sales in February hit an annualized rate of 539,000, which was up from the revised January rate of 500,000 (from 481,000), and better than the rate of 465,000 that had been broadly expected by the Briefing.com consensus.

9:45 am: [BRIEFING.COM] The major averages began the trading day with slim losses. The S&P 500 is lower by 0.3% with six sectors showing opening weakness.

Overall, cyclical sectors are responsible for the early downtick as all six growth-sensitive groups hover in the red. Materials (-0.5%), industrials (-0.4%), and financials (-0.5%) underperform while the technology sector (-0.1%) hovers just below its flat line with shares of Google (GOOGL 575.17, +9.80) trading higher by 1.7%.

Meanwhile, three of four countercyclical groups hold slim gains while health care (-0.1%) sits just below its flat line.

Treasuries have slipped from their early highs with the 10-yr yield returning to unchanged (1.91%).

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: -0.70. The stock market is on track for a flat open as futures on the S&P 500 trade within two points of fair value.

The benchmark index lost 0.2% yesterday and the current indication suggests the S&P 500 will extend its retreat to start the week. Meanwhile, the Dollar Index (96.93, -0.10) is the midst of its third consecutive decline that has given a modest boost to the euro (1.0955) and crude oil, which trades up 1.0% at $47.91/bbl.

The dollar saw some volatility after the CPI report for February matched expectations (+0.2%). The Dollar Index dropped to a fresh low before returning into its range from the early morning.

One more data point remains with the New Home Sales report for February (Briefing.com consensus 465K) set to be released at 10:00 ET.

On the corporate front, Chesapeake Energy (CKH 14.60, +0.49) has jumped 3.5% in pre-market after investor Carl Icahn increased his active stake in the company to 10.98% from 9.98%. On the flip side, Freeport-McMoRan (FCX 18.88, -0.45) is on track to open lower by 2.3% after cutting its quarterly dividend to $0.05/share from $0.3125.

9:02 am: [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: +2.80. The S&P 500 futures trade one point below fair value.

The FHFA Housing Price Index for January rose 0.3%, which followed a revised increase of 0.7% (from 0.8%) in December.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +6.70. The S&P 500 futures trade two points above fair value.

It was a generally mixed showing Tuesday from markets in the Asia-Pacific region. The focal point was the HSBC Flash Manufacturing PMI report for March for China, which hit an 11-month low of 49.2. A number below 50 is reflective of a contraction in manufacturing activity. The data point caused some early upset, but markets ultimately regrouped with China (+0.1%) leading the way on continued speculation that weakening data will invite additional policy stimulus.

In economic data:
China's March HSBC Flash Manufacturing PMI fell to 49.2 from 50.7 (expected 50.6)
Japan's March Manufacturing PMI dropped to 50.4 from 51.6 (consensus 52.1)
Australia's CB Leading Index rose 0.4% month-over-month (prior 0.3%)

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Japan's Nikkei declined 0.2%, clipped by the stronger yen and weakness in the communications (-0.8%), technology (-0.7%), and industrial (-0.6%) sectors. Leading decliners included JGC Corp (-4.9%), COMSYS Holdings (-3.4%), GS Yuasa Corp (-3.1%), Isuzu Motors (-2.6%), and Fukuoka Financial Group (-2.5%). Out of the 225 index members, 87 ended higher, 131 finished lower, and 7 were unchanged.
Hong Kong's Hang Seng declined 0.4% but finished off its lows of the day that followed the weaker than expected PMI report out of China. A 1.1% decline in the energy sector and a sluggish showing from the financial sector (-0.1%) offset a 1.1% gain in the utilities sector. Tingyi Cayman Islands Holding Corp (-2.9%), Ping An Insurance Group (-2.6%), and China Shenhua Energy (-2.1%) paced the decliners while Henderson Land Development Co (+3.7%) and China Overseas Land & Investment (+2.8%) led the winners. Out of the 50 index members, 22 ended higher, 27 finished lower, and 1 was unchanged.
China's Shanghai Composite battled back from large losses following the HSBC Manufacturing report, which showed a contraction in manufacturing activity in March, and ended 0.1% higher. That marked the tenth straight advance for the Composite, which has been underpinned by speculation that weakening economic data will invite further policy stimulus. The consumer non-cyclical and consumer cyclical sectors were relative strength leaders.

Major European indices trade near their flat lines while Italy's MIB (+0.9%) outperforms. Elsewhere, Greece is expected to present another list of planned reforms to the Eurogroup by Monday.

Participants received several data points:
Eurozone Manufacturing PMI rose to 51.9 from 51.0 (expected 51.5) while Services PMI improved to 54.3 from 53.7 (consensus 53.9)
Germany's Manufacturing PMI increased to 52.4 from 51.1 (expected 51.5) while Services PMI jumped to 55.3 from 54.7 (expected 55.0)
France's Manufacturing PMI rose to 48.2 from 47.6 (consensus 48.5) while Services PMI fell to 52.8 from 53.4, as expected
UK's CPI +0.3% month-over-month, as expected; 0.0% year-over-year (expected 0.1%; prior 0.3%). Separately, core CPI +1.2% year-over-year (expected 1.3%; prior 1.4%) and Input PPI -13.5% year-over-year (expected -12.4%; last -14.1%)

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Germany's DAX is higher by 0.1% with most components trading in the green. Adidas and Commerzbank lead with gains close to 2.0% apiece. On the downside, Deutsche Lufthansa has given up 3.2% after a Germanwings flight with 150 people on board crashed in the French Alps.
UK's FTSE trades flat. Financials outperform with British Land and Old Mutual up 1.0% and 1.6%, respectively. Staple stocks lag with Associated British Foods and Tesco down 2.6% and 1.1%, respectively.
In France, the CAC has added 0.3% with carmakers in the lead. Renault and Peugeot are both up near 1.4%. On the flip side, utilities and energy-related names underperform. Technip, GDF Suez, and Veolia Environnement hold losses between 0.1% and 1.2%.
Italy's MIB is higher by 0.9% amid broad strength. Fiat Chrysler has jumped 2.7% while Banca di Milano Scarl, Intesa Sanpaolo, and UBI Banca hold gains between 1.2% and 1.9%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: +8.20. The S&P 500 futures trade one point above fair value.

Total CPI rose 0.2% (Briefing.com consensus +0.2%) in February while Core CPI, which excludes food and energy, also rose 0.2% (Briefing.com consensus +0.1%). On a year-over-year basis, total CPI is flat and core CPI is up 1.7%.

7:58 am: [BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +10.60. U.S. equity futures trade modestly higher following a range-bound night. The S&P 500 futures hover three points above fair value after maintaining a nine-point range throughout the night.

For the third day in a row, the Dollar Index (96.77, -0.27) trades in the red with the euro benefitting from the greenback weakness. The euro/dollar pair currently hovers near 1.0975. In turn, crude oil trades higher by 0.6% at $47.74/bbl.

February CPI (Briefing.com consensus 0.2%) and core CPI (consensus 0.1%) will be released at 8:30 ET while the FHFA Housing Price Index will cross at 9:00 ET. The day's data will be topped off with the 10:00 ET release of the New Home Sales report for February (consensus 465K).

Treasuries hold slim gains with the 10-yr yield lower by a basis point at 1.90%.

In U.S. corporate news of note:

Chesapeake Energy (CHK 14.80, +0.69): +4.9% after investor Carl Icahn increased his active stake in the company to 10.98% from 9.98%. In addition, the company lowered its 2015 capital expenditure budget to $3.50-4.00 billion from $4.00-4.50 billion.
Estee Lauder (EL 83.32, +0.44): +0.5% after Wells Fargo upgraded the stock to 'Outperform' from 'Market Perform.'

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite +0.1%, Japan's Nikkei -0.2%, and Hong Kong's Hang Seng -0.4%
In economic data:
China's March HSBC Flash Manufacturing PMI fell to 49.2 from 50.7 (expected 50.6)
Japan's March Manufacturing PMI dropped to 50.4 from 51.6 (consensus 52.1)
Australia's CB Leading Index rose 0.4% month-over-month (prior 0.3%)
In news:
Asian Development Bank boosted its 2015 GDP forecast for the continent to 6.3% from 6.2%. Furthermore, President Takehiko Nakao said he welcomes a potential partnership with the Asian Infrastructure Investment Bank, which is being organized by China.

Major European indices trade near their flat lines. Germany's DAX +0.1%, UK's FTSE +0.2%, and France's CAC +0.3%. Elsewhere, Italy's MIB +0.8% and Spain's IBEX +0.4%
Participants received several data points:
Eurozone Manufacturing PMI rose to 51.9 from 51.0 (expected 51.5) while Services PMI improved to 54.3 from 53.7 (consensus 53.9)
Germany's Manufacturing PMI increased to 52.4 from 51.1 (expected 51.5) while Services PMI jumped to 55.3 from 54.7 (expected 55.0)
France's Manufacturing PMI rose to 48.2 from 47.6 (consensus 48.5) while Services PMI fell to 52.8 from 53.4, as expected
UK's CPI +0.3% month-over-month, as expected; 0.0% year-over-year (expected 0.1%; prior 0.3%). Separately, core CPI +1.2% year-over-year (expected 1.3%; prior 1.4%) and Input PPI -13.5% year-over-year (expected -12.4%; last -14.1%)
Among news of note:
Greece is expected to present another list of planned reforms to the Eurogroup by next Monday

5:49 am: [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +6.80.

5:49 am: [BRIEFING.COM] Nikkei...19713.45...-40.90...-0.20%. Hang Seng...24399.00...-94.90...-0.40%.

5:49 am: [BRIEFING.COM] FTSE...7040.19...+2.50...+0.00%. DAX...11911.00...+15.20...+0.10%.

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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