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 Post subject: March 30th Monday Trade Results - Profit $2657.50
PostPosted: Tue Mar 31, 2015 3:28 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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 @ $2,687.50 dollars or +53.75 points, Light Crude Oil CL ($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 @ $2,657.50 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=2038

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


4:10 pm: [BRIEFING.COM] The major averages rallied throughout the Monday session with the Dow Jones Industrial Average (+1.5%) ending in the lead while the S&P 500 (+1.2%) and Nasdaq (1.2%) followed not far behind.

The key indices began the week on an upbeat note, aided by overnight news indicating China has loosened its lending requirements for purchases of second homes. In addition, Friday's dovish remarks from Fed Chair Janet Yellen, who said the Fed will move cautiously when raising rates, provided another measure of support.

All ten sectors ended the day with solid gains while the S&P 500 narrowed its March loss to 0.9%. Despite the month-to-date loss, the benchmark index will enter tomorrow's session with a quarter-to-date gain of 1.3%.

Overall, cyclical sectors had the best showing, but countercyclical groups held their own. Health care and telecom services ended at the bottom of the leaderboard, but both groups still gained close to 1.0% apiece.

The health care sector settled behind most other groups despite showing early strength that was fueled by biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 351.32, +3.86) ended higher by 1.1% after being up more than 1.5% at the start. On the M&A front, UnitedHealth (UNH 121.00, +2.99) gained 2.5% after agreeing to acquire Catamaran (CTRX 59.83, +11.51) for $61.50/share.

Over on the cyclical side, five of six groups ended ahead of the S&P 500 while the consumer discretionary sector (+1.0%) underperformed.

Interestingly, the energy sector (+2.1%) ended in the lead even as crude oil spent the bulk of the day in negative territory. The energy component tested the $47.75/bbl level before settling lower by 0.5% at $48.65/bbl. WTI crude will enter tomorrow's session down 11.5% for the first quarter versus a 2.7% decline for the energy sector.

Elsewhere, the technology sector (+1.2%) caught up to the broader market during the final hour, but Intel (INTC 31.46, -0.54) weighed. The heavyweight lost 1.7%, retracing a portion of its 6.4% spike from Friday afternoon that occurred amid reports the company has approached Altera (ALTR 42.82, -1.57) about a potential takeover. However, it was reported earlier today that the deal remains on track. For its part, the PHLX Semiconductor Index gained 1.4%.

Treasuries registered slim gains after spending the day in narrow ranges. The 10-yr yield slipped one basis point to 1.96%. On a related note, the Dollar Index (98.05, +0.76) spiked 0.8%, but the greenback strength had little impact on today's equity rally.

Today's participation was well below average with fewer than 660 million shares changing hands at the NYSE floor.

Economic data included Personal Income/Spending data and Pending Home Sales:

Barrons.com
U.S. stocks end lower, giving back some Fed-fueled gains MarketWatch

Personal income increased 0.4% in February after increasing an upwardly revised 0.4% (from 0.3%) in January while the Briefing.com consensus expected an increase of 0.3%
The increase was in-line with the 0.4% increase in aggregate earnings that was reported in the February employment report
Spending rose just 0.1% in February after declining 0.2% in January while the consensus expected an increase 0.2%
Core PCE Prices rose 0.1%, as expected
Pending home sales for February rose 3.1% while the Briefing.com consensus expected an increase of 0.4%

Tomorrow, the Case-Shiller 20-City Index for January will be released at 9:00 ET (Briefing.com consensus 4.6%) while March Chicago PMI (consensus 52.0) and March Consumer Confidence (expected 96.4) will be reported at 9:45 ET and 10:00 ET, respectively.

Nasdaq Composite +4.5% YTD
Russell 2000 +4.3% YTD
S&P 500 +1.3% YTD
Dow Jones Industrial Average +0.9% YTD

3:35 pm: [BRIEFING.COM]

Heading into the close, WTI crude oil rallied sharply, rising over $1/barrel to around $48.69/barrel
By the time floor trading ended, May crude was down $0.22 at $48.65/barrel
May natural gas futures ended the day $0.01 higher at $2.65/MMBtu
Strength in the dollar index, helped weigh on precious metals all day
Apr gold ended the day $14.40 lower at $1185.50/oz, while May silver closed $0.40 to $16.68/oz

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 1.3% with one hour remaining in the session.

Today's affair has been very quiet on the news front, but that has been masked by a daylong rally. The benchmark index spiked more than 15 points at the start of the session and has added ten more points since the opening bell.

However, today's advance has taken place amid relatively light participation considering only 390 million shares have changed hands at the NYSE floor so far. This suggests today's final volume will come in below the 50-day average of 810 million.

2:25 pm: [BRIEFING.COM] The S&P 500 (+1.3%) has climbed to a new session high with the energy sector extending its gain to 1.9%.

Interestingly, the growth-sensitive group has been able to pad its gain even though crude oil has dropped to a new low with the pit close approaching. The energy component is lower by 1.1% at $48.33/bbl after hitting a session low near $47.60/bbl.

Including today's decline, WTI crude is lower by 7.1% for the month versus a 1.3% decline for the energy sector.

1:55 pm: [BRIEFING.COM] Equity indices remain near their best levels of the day.

In the tug-and-pull relationship between savings and spending, savings is clearly winning.

Personal income increased 0.4% in February after increasing an upwardly revised 0.4% (from 0.3%) in January. The Briefing.com Consensus expected personal income to increase 0.3%.

Yet, spending rose just 0.1% in February after declining 0.2% in January. The consensus expected personal spending to increase 0.1%.

The recent improvements in consumer sentiment have not translated into accelerated consumption spending. Instead, consumers have opted to raise their personal savings rate, which now stands at 5.8% and is up from 5.5% in February and 4.4% in November.

1:30 pm: [BRIEFING.COM] The major U.S. indices have continued to establish new session highs in recent trade.

In equities, Analog Devices (ADI 64.57, +5.73) shares are at 14 years high after an upgrade this morning to Overweight at Barclays; the firm has a $70 price target on the name. On the other hand, World Wrestling Entertainment (WWE 14.37, -2.15) shares are under heavy pressure, setting new six week lows after the company hosted a conference and provided metrics from its WrestleMania event and reaffirmed its business outlook.

While all S&P sectors are showing gains on the day, energy (+1.7%) continues showing the strongest performance despite weakness still being observed in WTI crude oil futures (-1.2% to $48.27/bbl). Despite the strength in the broad market today, only three of the S&P sectors are showing gains for the month with Financials up 0.15% MTD, Consumer Discretionaries up 0.02% MTD, and Health Care up 2.21% MTD.

12:55 pm: [BRIEFING.COM] Equity indices sport solid midday gains with the Dow Jones Industrial Average (+1.6%) trading ahead of the S&P 500 (+1.2%) and Nasdaq Composite (+1.0%).

The stock market began the week on an upbeat note, aided by overnight news indicating China has loosened its lending requirements for purchases of second homes. In addition, Friday's dovish remarks from Fed Chair Janet Yellen, who said the Fed will move cautiously when raising rates, provided another measure of support.

Furthermore, tomorrow will mark the end of the quarter, suggesting portfolio rebalancing efforts may have factored into today's action. As of now, the S&P 500 is on track to add 1.3% for the quarter.

All ten sectors display midday gains with five of six cyclical groups trading in-line with or ahead of the broader market. The energy sector (+1.6%) leads even as crude oil remains lower by 1.3% at $48.22/bbl. The leading sector has ticked down from its early high, but remains just ahead of financials (+1.4%) and industrials (+1.4%).

Elsewhere, the top-weighted technology sector (+1.0%) has spent the day just behind the S&P 500 due to a 1.2% loss in the shares of Intel (INTC 31.60, -0.40). Recall that the stock surged 6.4% on Friday amid reports the company has approached Altera (ALTR 42.45, -1.94) about a potential acquisition.

Intel has contributed to the Nasdaq's underperformance, but biotechnology has also struggled to keep pace with the market. The iShares Nasdaq Biotechnology ETF (IBB 349.59, +2.13) remains higher by 0.6% after being up 1.6% earlier. In turn, the health care sector (+0.8%) trades at the bottom of the leaderboard.

Staying in the health care space, Catamaran (CTRX 59.86, +11.54) has soared 23.9% after agreeing to be acquired by UnitedHealth's (UNH 121.09, +3.08) OptumRx for $61.50/share.

On a separate note, Tesla (TSLA 189.70, +4.70) has spiked to highs in recent action after CEO Elon Musk published a tweet about a product announcement planned for April 30.

Treasuries are little changed after erasing their earlier gains. The 10-yr yield hovers near 1.96%.

Economic data included Personal Income/Spending data and Pending Home Sales:

Personal income increased 0.4% in February after increasing an upwardly revised 0.4% (from 0.3%) in January while the Briefing.com consensus expected an increase of 0.3%
The increase was in-line with the 0.4% increase in aggregate earnings that was reported in the February employment report
Spending rose just 0.1% in February after declining 0.2% in January while the consensus expected an increase 0.2%
Core PCE Prices rose 0.1%, as expected
Pending home sales for February rose 3.1% while the Briefing.com consensus expected an increase of 0.4%

12:25 pm: [BRIEFING.COM] Recent action saw the S&P 500 (+1.1%) inch to a fresh session high with cyclical sectors driving the move.

The energy sector (+1.6%) holds the lead while the second-largest sector by weight-financials (+1.4%)-represents the second best performer of the day. Including today's gain, the financial sector is essentially unchanged for the month while energy is on track to end the month lower by 1.7%.

Elsewhere, Treasuries have slid from their highs and they now trade close to their overnight lows. The 10-yr yield is higher by a basis point at 1.97% after hitting a low near 1.94%.

11:55 am: [BRIEFING.COM] Equity indices remain near their recent levels with the S&P 500 trading higher by 1.0%.

Thanks to today's gain, the benchmark index has narrowed its March loss to 1.1% with one more session remaining in the month. Meanwhile, the Dow and Nasdaq continue showing respective March losses of 0.9% and 0.7%.

Nine of ten sectors are on track to end the month in negative territory while health care has added 2.0% in March. The countercyclical sector started today's session among the leaders, but has narrowed its gain to 0.8%.

11:25 am: [BRIEFING.COM] Recent action saw the technology sector (+1.0%) catch up to the S&P 500 (+1.0%) thanks to Intel (INTC 31.93, -0.07) trimming its loss to 0.2%.

The heavyweight chipmaker has jumped off its low in reaction to reports indicating the company's potential deal with Altera (ALTR 42.51, -1.88) remains on track. As a result, the PHLX Semiconductor Index has jumped to a new high and is now up 1.4%.

Technology notwithstanding, just about every cyclical sector trades ahead of the broader market while the consumer discretionary space (+0.9%) follows not far behind.

10:55 am: [BRIEFING.COM] The Dow (+1.5%) and S&P 500 (+1.0%) hover near their session highs while the Nasdaq Composite (+0.7%) has ticked down from its best level of the session; however, all three indices continue sporting solid gains.

The Nasdaq has pulled back from its opening high amid comparable action in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 349.09, +1.63) has narrowed its gain to 0.5%. In addition, the index has been pressured by Intel (INTC 31.50, -0.50), which trades lower by 1.6%. That being said, most other large cap technology (+0.9%) components trade with gains.

Elsewhere, the energy sector (+1.6%) remains in the lead even though crude oil has returned into negative territory and is now down 1.6% at $48.07/bbl.

10:45 am: [BRIEFING.COM]

Crude Oil saw temporary weakness in early trading, before rallying off of a $47.65 bottom to as high as $49.16/barrel.
This action was highlighted by news that discussions between the United States and Iran over that country's nuclear program could potentially decrease sanctions and expand its crude export activity.
Tomorrow marks the deadline for concluding talks between all parties. May crude oil is now -1.8% at $47.97/barrel
Natural Gas underwent a strong rally in mid-morning trading, but is now up 0.1% to $2.64/MMBtu
Following strength on the dollar index this AM, gold and silver futures continue to feel selling pressure.
April gold is currently trading -1.2% at $1185.60/oz, while May silver is -1.9% at $16.75/oz
Copper futures are a bit erratic in morning trade and are now at +0.6% at $2.79/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 1.1% with all ten sectors showing gains.

Pending home sales for February rose 3.1% while the Briefing.com consensus expected an increase of 0.4%.

9:40 am: [BRIEFING.COM] The major averages began the day with solid gains. The Dow Jones Industrial Average (+1.3%) leads while the S&P 500 (+0.8%) follows a little behind with nine of ten sectors showing gains.

The energy sector (+1.4%) is an early leader while crude oil trades higher by 0.4% at $49.03/bbl after erasing its overnight loss. Meanwhile, most other cyclical groups also trade ahead of the broader market while technology (+0.9%) follows a little behind the S&P 500.

On the flip side, the consumer staples sector hovers just below its flat line while the remaining countercyclical groups show gains.

Treasuries remain in the green with the 10-yr yield off one basis point at 1.96%.

The Pending Home Sales report for February (Briefing.com consensus 0.4%) will be released at 10:00 ET.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: +10.50. Nasdaq futures vs fair value: +29.30. The stock market is on track for a higher open as futures on the S&P 500 trade 11 points above fair value. Index futures notched their highs at the start of the European session before inching away from those levels; however, they continue holding more than half of their gains.

Futures have been able to hold their gains despite dollar strength that has the Dollar Index (97.98, +0.70) trading higher by 0.7%.

With tomorrow's session marking the end of March, the benchmark index will enter today down 2.1% for the month. Tomorrow will also represent the end of the first quarter and the benchmark index is currently up 0.1% since the end of 2014. Meanwhile, the Nasdaq has shown relative strength, adding 3.3% this quarter.

The news flow has been relatively light this morning, but there is some M&A activity to report. Namely, Catamaran (CTRX 60.21, +11.89) has surged 24.6% in pre-market after agreeing to be acquired by UnitedHealth's (UNH 123.40, +5.39) OptumRx for $61.50/share.

On the economic front, February personal income increased 0.4% while the Briefing.com consensus expected an uptick of 0.3%.

The Pending Home Sales report for February (Briefing.com consensus 0.4%) will be released at 10:00 ET.

Treasuries hold slim gains with the 10-yr yield lower by a basis point at 1.95%.

8:52 am: [BRIEFING.COM] S&P futures vs fair value: +9.60. Nasdaq futures vs fair value: +28.70. The S&P 500 futures trade ten points above fair value.

Asian equity markets closed higher this morning and bulls can thank China for that. The Mainland's Central Bank was active over the past couple days with talk and actions, which have treated equity markets with very favorable beginning to the week. First, the People's Bank of China's Zhou spoke candidly over the weekend that growth has fallen too much and the central bank has room to act. That was backed up by a PBOC researcher who warned that growth may fall below 7% for the quarter. This triggered the first wave of optimism across the equity complex. Later this morning, the PBOC backed up its tough talk when it announced plans to lower restrictions on property purchases by reducing the required down payment for second homes by 40%. Japanese shares were once again bid on poor data with February Industrial Production falling at its quickest clip in nine months.

Economic data was limited:
Japan's February Industrial Production -3.4% month-over-month (consensus -1.8%; last 3.7%)
South Korea's April Manufacturing BSI Index fell to 76 from 79

------

Japan's Nikkei gained 0.7%, shrugging off weaker than expected Industrial production data. All sectors finished in positive territory with Consumer Staples (+1.4%) leading the way.
Hong Kong's Hang Seng ended +1.5% higher with gains in the financials (+2.5%) leading the charge. As such, Bank of China and China Construction Bank both posted solid gains, trading up 3.4% and 1.7% respectively
China's Shanghai Composite increased 2.6% on the back of all the central bank news mentioned above. Real estate and property names were taking off in advance of the property restriction news, with Poly Real Estate trading +10% on the day

Major European indices hold gains with Germany's DAX (+1.4%) in the lead. Elsewhere, Spain's Economy Minister Luis de Guindos said the European economy will prove to be a positive surprise with Spain's Q1 GDP expected to grow 0.8%.

In economic data:
Eurozone March Business and Consumer Survey rose to 103.9 from 102.3 (expected 103.1)
UK's February BoE Consumer Credit GBP740 million (expected GBP900 million; prior GBP802 million) while Mortgage Lending GBP1.70 billion (expected GBP1.60 billion; previous GBP1.60 billion)
Italy's March Business Confidence rose to 103.7 from 100.5 (expected 99.8) while Consumer Confidence improved to 110.9 from 107.7, as expected
Spain's March CPI -0.7% year-over-year (expected -1.0%; prior -1.1%)
Spain's KOF Leading Indicators climbed to 90.8 from 90.3 (consensus 89.1)

------

UK's FTSE is higher by 0.3%. Consumer names outperform with Kingfisher and Marks & Spencer Group up 2.5% and 1.0%, respectively. On the downside, BG Group is the weakest performer, down 2.9%.
In France, the CAC trades higher by 1.0% with financials among the leaders. BNP Paribas, Credit Agricole, and Societe Generale hold gains between 2.0% and 2.7%.
Germany's DAX trades up 1.4% with all but one component in the green. Heavyweights BASF, Daimler, Deutsche Bank, and Volkswagen sport gains between 1.5% and 2.2%. On the downside, Deutsche Lufthansa is lower by 0.3%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +10.90. Nasdaq futures vs fair value: +32.70. The S&P 500 futures trade 11 points above fair value.

February personal income increased 0.4% while the Briefing.com consensus expected an uptick of 0.3%. Meanwhile, personal spending increased 0.1% while the consensus expected an increase of 0.2%.

Core PCE prices rose 0.1%, which is what the Briefing.com consensus expected.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +9.60. Nasdaq futures vs fair value: +30.10. U.S. equity futures hold solid pre-market gains with S&P 500 futures trading nearly ten points above fair value. Index futures displayed strength throughout the night, spiking to highs around the start of the session in Europe where the key indices trade higher across the board.

The advance in equity futures has taken place amid dollar strength, which has pressured crude oil. The Dollar Index (97.89, +0.60) is higher by 0.6% while crude oil trades down 1.5% at $48.15/bbl.

February Personal Income (Briefing.com consensus 0.3%), Personal Spending (expected 0.2%), and core PCE Prices (expected 0.1%) will all be reported at 8:30 ET while the Pending Home Sales report for February (consensus 0.4%) will cross the wires at 10:00 ET.

Treasuries trade little changed with the 10-yr yield at 1.96%.

In U.S. corporate news:

Catamaran (CTRX 60.00, +11.68): +24.2% after agreeing to be acquired by UnitedHealth's (UNH 122.50, +4.49) OptumRx for $61.50/share.
Mylan Labs (MYL 59.00, -2.63): -2.7% after announcing the public offering of 35 million shares held by subsidiaries of Abbott Laboratories (ABT 46.78, 0.00).
Nike (NKE 101.00, +1.12): +1.1% after Robert W. Baird upgraded the stock to 'Outperform' from 'Neutral.'
Oracle (ORCL 42.94, +0.30): +0.7% following an upgrade at RBC Capital Markets to 'Outperform' from 'Sector Perform.'

Reviewing overnight developments:

Asian markets ended higher. Japan's Nikkei +0.7%, Hong Kong's Hang Seng +1.5%, and China's Shanghai Composite +2.6%
Economic data was limited:
Japan's February Industrial Production -3.4% month-over-month (consensus -1.8%; last 3.7%)
South Korea's April Manufacturing BSI Index fell to 76 from 79
In news:
China's outperformance was fueled by hopes for more stimulus after People's Bank of China Governor Zhou Xiaochuan indicated the recent slowdown in inflation has increased the chance for more easing in the near term.

Major European indices hold gains. UK's FTSE +0.2%, France's CAC +0.9%, and Germany's DAX +1.3%. Elsewhere, Italy's MIB +1.1% and Spain's IBEX +0.7%
In economic data:
Eurozone March Business and Consumer Survey rose to 103.9 from 102.3 (expected 103.1)
UK's February BoE Consumer Credit GBP740 million (expected GBP900 million; prior GBP802 million) while Mortgage Lending GBP1.70 billion (expected GBP1.60 billion; previous GBP1.60 billion)
Italy's March Business Confidence rose to 103.7 from 100.5 (expected 99.8) while Consumer Confidence improved to 110.9 from 107.7, as expected
Spain's March CPI -0.7% year-over-year (expected -1.0%; prior -1.1%)
Spain's KOF Leading Indicators climbed to 90.8 from 90.3 (consensus 89.1)
Among news of note:
Spain's Economy Minister Luis de Guindos said the European economy will prove to be a positive surprise with Spain's Q1 GDP expected to grow 0.8%.

5:52 am: [BRIEFING.COM] S&P futures vs fair value: +12.50. Nasdaq futures vs fair value: +41.00.

5:51 am: [BRIEFING.COM] Nikkei...19411.40...+125.80...+0.70%. Hang Seng...24855.12...+368.90...+1.50%.

5:51 am: [BRIEFING.COM] FTSE...6888.53...+33.50...+0.50%. DAX...12029.39...+161.10...+1.40%.

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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