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 Post subject: April 30th Thursday Trade Results - Profit $8970.00
PostPosted: Thu Apr 30, 2015 9:14 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 2972
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)
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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 @ $220.00 dollars or +2.20 points, Emini ES ($ES_F) futures @ $8,750.00 dollars or +175.00 points, Light Crude Oil CL ($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 @ $8,970.00 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 free 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=142&t=2063

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=261&t=2728

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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


4:15 pm: [BRIEFING.COM] The major averages ended April on a lower note, but managed to escape with monthly gains. The S&P 500 lost 1.0% and narrowed its April advance to 0.9% while the Nasdaq Composite (-1.6%) underperformed today and ended the month (+0.8%) just behind the benchmark index.

Equity indices faced selling pressure from the get-go with the largest sector-technology (-1.6%)-leading the daylong retreat. The influential group faced broad-based weakness with its top component-Apple (AAPL 125.15, -3.49)-sliding 2.7% after the Wall Street Journal reported that some watch components provided by AAC Technologies (AACAY 53.31, -2.79) may be defective. That being said, other sector members also struggled with Yelp (YELP 39.36, -11.92) cratering in reaction to its quarterly report. Shares of YELP tumbled 23.2% in reaction to disappointing earnings/revenue and cautious revenue guidance for Q2.

The tech sector contributed to the underperformance of the Nasdaq, but the index also faced significant weakness in the biotech group. The iShares Nasdaq Biotechnology ETF (IBB 333.66, -11.15) lost 3.2% and settled just above its 100-day moving average (331.05). The ETF dropped 2.8% in April while the health care sector (-1.5%) underperformed today and lost 1.4% for the month.

Elsewhere among influential groups, the industrial sector (-0.9%) ended ahead of the broader market, but that masked relative weakness among transport stocks. The Dow Jones Transportation Average lost 1.3%, ending the month lower by 1.7%. On the earnings front, freight carrier Con-way (CNW 41.10, -1.40) lost 3.3% after reporting a one-cent beat on light revenue while shipper Kirby (KEX 78.53, -3.37) dropped 4.1% after its cautious guidance overshadowed a one-cent beat.

All ten sectors finished the day in negative territory with energy (-0.4%) succumbing to the pressure during late afternoon action. The sector displayed intraday strength thanks to crude oil's 1.8% advance to $59.63/bbl. For the month, the energy sector gained 6.6% while crude oil spiked 20.8% amid a pullback in the dollar.

Fittingly, the Dollar Index (94.78, -0.43) retreated again today, which represented the seventh consecutive decline. Greenback weakness was a recurring theme in April with the Dollar Index losing 3.5% for the month after posting nine monthly gains. The euro benefitted from the pullback in the dollar with the single currency rising from 1.0731 to 1.1225 in April.

Treasuries retreated in the morning, but reclaimed all of their losses during the day. The 10-yr yield ended at 2.04%, representing the highest level since mid-March.

Today's participation was above average with month-end flows likely responsible for the difference. As a result, more than a billion shares changed hands at the NYSE floor.

Economic data included initial claims, Personal Income/Spending data, Q1 Employment Cost Index, and Chicago PMI:

The initial claims level declined to 262,000 for the week ending April 25 from an upwardly revised 296,000 (from 295,000) while the Briefing.com consensus expected a decline to 290,000
According to the Department of Labor, there were no special factors that impacted the initial claims reading, which hit the lowest level since April 2000
Personal income growth was virtually flat in March after increasing 0.4% in February while the Briefing.com consensus expected an increase of 0.2%
That was the weakest personal income increase since December 2013
Personal spending increased 0.4% in March after increasing an upwardly revised 0.2% (from 0.1%) in February while the consensus expected an increase of 0.5%
The Employment Cost Index increased 0.7% in Q1 2015 after increasing a downwardly revised 0.5% (from 0.6%) in Q4 2014 while the Briefing.com consensus expected an increase of 0.6%
Wages and salaries increased 0.7% in the first quarter, up from a 0.6% increase in Q4 2014
Benefits spending growth held steady at 0.6%
The Chicago PMI increased to 52.3 in April from 46.3 in March while the Briefing.com Consensus expected an increase to 50.0
The increase ended two consecutive monthly contractions
The Production Index increased to 52.7 in April from 49.3 in March

Tomorrow, the ISM Index for April (Briefing.com consensus 51.9), March Construction Spending (expected 0.4%), and the final reading of the April Michigan Sentiment Index (consensus 96.0) will all be released at 10:00 ET.

Nasdaq Composite +4.3% YTD
Russell 2000 +1.3% YTD
S&P 500 +1.3% YTD
Dow Jones Industrial Average +0.1% YTD

3:35 pm: [BRIEFING.COM]

Natural gas futures surge higher on storage data, closing floor trading 6% higher at $2.75/MMBtu
WTI crude oil was strong as well, rally above the $59/barrel level, closing +$1.02 at $59.54/barrel'
Precious metals tanked today, but recovered some
June gold lost -2.3% (or -$27.80) to $1182.20/oz, while July silver closed -3.2% to $16.15/oz
July copper rallied +$0.08 to $2.88/lb

2:55 pm: [BRIEFING.COM] Equity indices have notched new session lows going into the final hour of action. The S&P 500 is now down 1.0% while the Nasdaq Composite has given up 1.6%.

Barring a final-hour plunge, the major averages remain on course to end April with gains. The S&P 500 and Nasdaq are both up near 0.9% for the month while the Dow has gained 0.5% in April.

Seven out of ten sectors hold month-to-date gains between 0.1% (consumer discretionary) and 6.8% (energy) while countercyclical consumer staples, health care, and utilities are all down near 1.0% for the month.

Elsewhere, Treasuries are on track to end the month on their lows with the 10-yr yield at 2.05%, representing the highest level since mid-March.

2:25 pm: [BRIEFING.COM] Equity indices remain pressured with the S&P 500 trading lower by 0.8%.

Biotechnology has been a weak spot throughout the week. The iShares Nasdaq Biotechnology ETF (IBB 334.59, -10.22) snapped a three-day skid yesterday and tried to climb above its 50-day moving average (348.61), but that area served as resistance. Today, the ETF is lower by 3.1%, hovering not far above its 100-day average (331.05), which has not been tested since the middle of October. Meanwhile, the health care sector trades lower by 1.4%.

Similar to health care, technology (-1.5%) and utilities (-1.6%) are also down more than 1.0% apiece.

1:55 pm: [BRIEFING.COM] The major averages remain near their recent levels.

The latest initial claims report confirms that layoff activities are at 15 year lows.

The initial claims level declined to 262,000 for the week ending April 25 from an upwardly revised 296,000 (from 295,000) for the week ending April 18. The Briefing.com Consensus expected the initial claims level to decline to 290,000.

According to the Department of Labor, there were no special factors that impacted the initial claims reading.

That is the lowest initial claims level since April 2000. Layoff activities have clearly improved.

1:35 pm: [BRIEFING.COM] The major U.S. indices remain mired in negative territory following this morning's mixed economic data.

In commodities, WTI crude oil futures (+4.15% to $59.43/bbl) continue their remarkable recovery, now up 41% since their March lows just above $42/bbl. On a related note, natural gas futures (+5.3% to $2.745/mmbtu) hold on to their strong gains following the earlier EIA inventory data showing a smaller-than-expected build in inventories. On the heels of this strength, energy (+0.1%) remains the only S&P sector sporting gains today. The utilities sector (-1.5%), responding to higher market rates, is the biggest laggard.

Quarterly earnings results after the close are expected from a large list of companies that includes Gilead Sciences (GILD 100.96, -1.36), Visa (V 66.24, -1.10), Expedia (EXPE 94.00, -2.26), LinkedIn (LNKD 252.39, -4.76), FireEye (FEYE 42.46, -0.50), and First Solar (FSLR 61.28, -0.66) among others.

12:55 pm: [BRIEFING.COM] The stock market has spent the first half of the Thursday session in negative territory with the Russell 2000 (-1.3%) and Nasdaq Composite (-1.1%) trading behind the S&P 500 (-0.7%).

Equity indices slumped at the start, all but ignoring generally positive economic data. Instead, the market has been pressured by losses in most sectors with the top-weighted technology space (-1.2%) trading only ahead of the utilities sector (-1.6%).

As for technology, the group has retreated with its largest component-Apple (AAPL 125.55, -3.09)-trading lower by 2.4% after the Wall Street Journal reported that some watch components provided by AAC Technologies (AACAY 53.20, -2.90) may be defective. To be sure, the sector's weakness isn't entirely due to Apple as social media names lag following disappointing earnings and guidance from Yelp (YELP 39.61, -11.67). Shares of YELP have plunged 22.8%.

The tech sector has weighed on the Nasdaq since the start with biotechnology contributing to the underperformance. The iShares Nasdaq Biotechnology ETF (IBB 335.90, -8.91) has tumbled 2.6%, and is now down 7.6% for the week. Understandably, today's loss in the high-beta industry group has kept the health care sector (-0.9%) behind the broader market.

On the flip side, energy (+0.1%) has benefitted from a 1.1% gain in crude oil, which currently hovers near $59.06/bbl. The energy component has climbed through the morning while the Dollar Index (94.94, -0.27) drifts just below its flat line after erasing its overnight decline. Currently, the index is on track for its seventh consecutive loss.

Treasuries hover near their session lows with the 10-yr yield higher by four basis points at 2.08%.

Economic data included initial claims, Personal Income/Spending data, Q1 Employment Cost Index, and Chicago PMI:

The initial claims level declined to 262,000 for the week ending April 25 from an upwardly revised 296,000 (from 295,000) while the Briefing.com consensus expected a decline to 290,000
According to the Department of Labor, there were no special factors that impacted the initial claims reading, which hit the lowest level since April 2000
Personal income growth was virtually flat in March after increasing 0.4% in February while the Briefing.com consensus expected an increase of 0.2%
That was the weakest personal income increase since December 2013
Personal spending increased 0.4% in March after increasing an upwardly revised 0.2% (from 0.1%) in February while the consensus expected an increase of 0.5%
The Employment Cost Index increased 0.7% in Q1 2015 after increasing a downwardly revised 0.5% (from 0.6%) in Q4 2014 while the Briefing.com consensus expected an increase of 0.6%
Wages and salaries increased 0.7% in the first quarter, up from a 0.6% increase in Q4 2014
Benefits spending growth held steady at 0.6%
The Chicago PMI increased to 52.3 in April from 46.3 in March while the Briefing.com Consensus expected an increase to 50.0
The increase ended two consecutive monthly contractions
The Production Index increased to 52.7 in April from 49.3 in March

12:25 pm: [BRIEFING.COM] Not much change in the market with the S&P 500 (-0.5%) hovering near its recent levels.

The energy sector has extended its gain to 0.2% amid continued strength in crude oil that has the energy component trading higher by 1.2% at $59.29/bbl. Meanwhile, the Dollar Index (95.17, -0.04) has spent the past two hours near its flat line after rising off its overnight low. The index remains in negative territory at this juncture, but could easily turn positive considering a decline today would represent the seventh consecutive down move. Still, the index remains on track to end the month lower by 3.5%.

Elsewhere, Treasuries remain near their lows with the 10-yr yield higher by five basis points at 2.09%.

11:55 am: [BRIEFING.COM] The major averages remain near their recent levels with the S&P 500 (-0.4%) holding an eight-point loss. Including today's decline, the benchmark index is now down 0.9% for the week while the Nasdaq has given up 2.1% since last Friday.

Despite this week's losses, the key indices remain on track to register gains for the month. The S&P 500 has added 1.5% this week while the Nasdaq is higher by 1.7% since the end of last week.

The vast majority of sectors remain in negative territory, but energy (+0.1%) has recently crawled into the green. The growth-sensitive group has received a measure of support from crude oil, which is higher by 0.7% at $59.01/bbl. In addition, ExxonMobil (XOM 88.33, +0.46) and Royal Dutch Shell (RDS.A 63.59, +0.09) hold modest gains after reporting better than expected earnings.

11:25 am: [BRIEFING.COM] Equity indices have inched up off their lows, but they continue holding the bulk of their losses. The S&P 500 has narrowed its decline to 0.3%, but eight sectors remain in the red.

The utilities sector (-1.6%) remains well behind other groups as higher Treasury yields make high-yielding utility names a bit less attractive. To that point, the 10-yr yield is higher by four basis points at 2.08%, trading near levels last seen in the middle of March.

Unlike utilities, the remaining countercyclical groups trade ahead of the broader market. Consumer staples (+0.1%) and telecom services (+0.1%) hold slim gains while the health care sector (-0.2%) remains in negative territory.

10:55 am: [BRIEFING.COM] The major averages remain near their lows with the Nasdaq Composite (-1.0%) trailing the S&P 500 (-0.7%).

The tech-heavy Nasdaq has suffered from losses among large cap names as well as broad weakness in biotechnology. The largest index component-Apple (AAPL 126.18, -2.46)-has widened its loss to 1.9% while other influential names like Google (GOOGL 552.87, -8.52), Intel (INTC 32.58, -0.31), and Microsoft (MSFT 48.70, -0.37) are down between 0.8% and 1.5%.

As for biotechnology, the iShares Nasdaq Biotechnology ETF (IBB 338.64, -6.17) has given up 1.7% with Celgene (CELG 107.74, -5.46) down 4.8% after below-consensus revenue and light guidance overshadowed its one-cent beat.

10:40 am: [BRIEFING.COM]

The dollar index has been trading near flat in recent trade, after erasing earlier losses on the release of US employment and consumer spending data.
Dollar strength has been putting downward pressure on precious metals and oil during morning price action.
The dollar is now trading near -0.3% at 94.98
Having erased early morning gains, Crude oil futures are now +0.3% at $ 58.73/barrel
The sell-off in precious metals is still continuing, with June gold at -2.6% to $1178.10/oz and July silver at -4.8% at $15.90/oz
Natural gas futures had been trading in the red all morning ahead of the EIA's natural gas inventory data release
Following the release of the data, which showed a build of 81 bcf (vs. 86 bcf) prices spiked to $2.71/MMBtu
Nat gas is now +3.5% at $2.70/MMBtu
July copper is trading strongly higher this morning at +2.23% at $2.86/lb

9:55 am: [BRIEFING.COM] Equity indices have extended their losses with the S&P 500 now down 0.5%.

All ten sectors are now in the red with utilities (-1.6%) remaining at the bottom of the leaderboard. Over on the cyclical side, energy (-0.7%) and technology (-0.7%) trail the broader market while the consumer discretionary sector (-0.3%) is the lone outperformer on the cyclical side.

The opening retreat in equities has taken place alongside weakness in the Treasury market. The 10-yr note is on its low with the benchmark yield higher by six basis points at 2.10%.

9:45 am: [BRIEFING.COM] The major averages began the day with slim losses. The Nasdaq Composite it lower by 0.3% while the S&P 500 (-0.2%) hovers a bit closer to its flat line.

Eight sectors display opening losses with the top-weighted technology sector down 0.3%. Elsewhere, the utilities sector (-0.9%) is the only group with a larger decline, but the countercyclical sector represents just 3.0% of the market.

On the flip side, the telecom services sector (+0.1%) holds a slim gain while most other groups sit near their flat lines.

Just released, the Chicago PMI for April rose to 52.3 from 46.3, while the Briefing.com consensus expected an increase to 50.0.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: -9.60. Nasdaq futures vs fair value: -27.10. The stock market is on track for a lower open as futures on the S&P 500 trade ten points below fair value. S&P futures have spent the bulk of the night in the red, but they have been able to trim their losses in recent action. Meanwhile, Nasdaq futures (-0.6%) display larger losses due to early weakness in social media names after Yelp (YELP 42.08, -9.20) reported disappointing results and lowered its guidance. In addition, the largest index component-Apple (AAPL 127.88, -0.76)-has surrendered 0.6% in pre-market action after the Wall Street Journal reported that some watch components provided by AAC Technologies (AACAY 56.10, 0.00) may be defective.

On the economic front, Initial Claims dropped to 262,000 from 296,000 (Briefing.com consensus 290,000), which was the lowest level since April 2000. Meanwhile, the Q1 Employment Cost Index (0.7%; Briefing.com consensus 0.6%) beat expectations while March Personal Income (0.0%; consensus 0.2%) missed expectations, representing the weakest reading since December 2003.

Treasuries hover near their lows with the 10-yr yield higher by five basis points at 2.09%.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -18.30. The S&P 500 futures trade six points below fair value.

Major markets in Asia all declined on Thursday in a profit-taking sweep that followed Wall Street's weak showing on Wednesday and amid concerns about overheated conditions. Japan (-2.7%) led the selling, suffering its biggest loss in four months. On a related note, the Bank of Japan left its key lending rate unchanged at 0.10% as expected.

In economic data:
Japan's March Industrial Production -0.3% month-over-month (expected -2.3%; prior -3.1%); March Housing Starts +0.7% year-over-year (expected -1.9%; prior -3.1%); March Construction Orders +10.8% year-over-year (prior +1.0%)
South Korea's March Industrial Production -0.4% month-over-month (expected +0.3%; prior +2.3%); -0.1% year-over-year (expected -1.8%; prior -5.0%); March Retail Sales -0.6% month-over-month (expected +1.1%; prior +2.6%); March Service Sector Output -0.4% month-over-month (prior +1.6%)
Australia's March Private Sector Credit +0.5% month-over-month (expected +0.5%; prior +0.5%); Q1 Import Price Index -0.2% quarter-over-quarter (expected +1.1%; prior +0.9%); Q1 Export Price Index -0.8% quarter-over-quarter (expected -0.8%; prior 0.0%)
Singapore's Q2 Business Expectations rose to 5.00 from -3.00

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Japan's Nikkei declined 2.7%, suffering its largest loss in four months with disappointing earnings overshadowing some better-than-expected data for industrial production and housing starts. Separately, the Bank of Japan held its key lending rate steady at 0.10% as expected. Every sector was lower, paced by weakness in the communications (-3.6%), industrial (-2.8%), basic materials (-2.6%), and consumer cyclical (-2.6%) sectors. Ricoh (-9.0%), Sumitomo Heavy Industries (-7.6%), Shin-Etsu Chemical (-7.0%), and Honda Motor (-6.7%) were the worst-performing issues. Out of the 225 index members, 20 ended higher, 203 finished lower, and 2 were unchanged.
Hong Kong's Hang Seng declined 0.9%. Every sector finished lower with the exception of the market's most influential sector: the financial sector (+0.5%). The communications (-2.5%) and consumer non-cyclical (-2.5%) sectors were the weakest links. China Unicom Hong Kong (-5.8%), China Mengniu Dairy (-4.6%) and BOC Hong Kong Holdings (-4.4%) topped the list of individual decliners while China Resources Land (+7.4%), China Overseas Land & Investment, and Link REIT (+2.7%) paced the winners. Out of the 50 index members, 16 ended higher, 33 finished lower, and 1 was unchanged.
China's Shanghai Composite declined 0.8%, succumbing to a wave of selling interest in the final hour that knocked it down from unchanged levels. The energy (-2.7%), basic materials (-1.7%), and financial (-1.3%) were the primary weak spots in the Chinese market.

Major European indices hold gains with Germany's DAX (+0.7%) showing relative strength.

Economic data was plentiful:
Eurozone April CPI 0.0% year-over-year (expected -0.1%; prior -0.1%); core CPI +0.6% year-over-year, as expected. Separately, the Unemployment Rate held at 11.3% (expected 11.2%)
Germany's March Retail Sales -2.3% month-over-month (consensus 0.4%; last -0.1%); +3.5% year-over-year (expected 3.2%; last 3.3%). Separately, April Unemployment Change -8,000 (expected -13,000; prior -14,000)
French March Consumer Spending -0.6% month-over-month (expected -0.3%; last 0.2%)
Italy's April CPI +0.3% month-over-month (consensus 0.2%; prior 0.1%); 0.0% year-over-year (expected -0.1%; last -0.1%). Separately, Monthly Unemployment Rate rose to 13.0% from 12.7% (consensus 12.6%)
Spain's Q1 GDP rose 0.9% quarter-over-quarter (consensus 0.8%; last 0.7%); 2.6% year-over-year (expected 2.5%; prior 2.0%). February Current Account deficit widened to EUR2.03 billion from EUR400 million while April CPI -0.6% year-over-year (expected -0.7%; prior -0.7%)

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UK's FTSE is higher by 0.2% with consumer and energy names in the lead. Associated British Foods, Tesco, and Royal Dutch Shell are up between 1.3% and 4.9% with Shell rallying after reporting better than expected results. On the flip side, Centrica and ITV are both down near 4.0% with the stocks going ex-dividend.
In France, the CAC trades up 0.3% with Lafarge in the lead. The stock has gained 3.4% following better than expected results. Meanwhile, financials lag with BNP Paribas and Societe Generale down 2.5% and 1.1%, respectively.
Germany's DAX has gained 0.7% with Fresenius SE jumping 5.2% in reaction to better than expected results. Financials display strength with Commerzbank and Deutsche Bank trading higher by 1.1% and 0.7%, respectively.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: -5.70. Nasdaq futures vs fair value: -20.20. The S&P 500 futures trade six points below fair value.

The latest weekly initial jobless claims count totaled 262,000 while the Briefing.com consensus expected a reading of 290,000. Today's tally was below the revised prior week count of 296,000 (from 295,000). As for continuing claims, they fell to 2.253 million from 2.327 million.

Separately, March personal income was flat while the Briefing.com consensus expected an uptick of 0.2%. Meanwhile, personal spending increased 0.4% while the consensus expected an increase of 0.5%.

Core PCE prices rose 0.1% while the Briefing.com consensus expected a reading of 0.2%.

Also of note, the Q1 Employment Cost Index rose 0.7% while the Briefing.com consensus expected an increase of 0.6%.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -23.60. U.S. equity futures trade modestly lower amid mixed action overseas. The S&P 500 futures hover six points below fair value.

Meanwhile, the Dollar Index (94.76, -0.44) is lower by 0.5%, and is now on track for its seventh consecutive decline.

Weekly Initial Claims (Briefing.com consensus 290K), Personal Income/Spending data for March, and Q1 Employment Cost Index (consensus 0.6%) will be released at 8:30 ET while the Chicago PMI report for April (expected 50.0) will cross the wires at 9:45 ET.

Treasuries are little changed with the 10-yr yield hovering just below its flat line at 2.04%.

In U.S. corporate news of note:

Baidu (BIDU 211.11, -7.89): -3.6% despite beating bottom-line estimates.
Colgate-Palmolive (CL 67.50, -1.01): -1.5% in reaction to in-line results.
NXP Semiconductor (NXPI 92.30, -3.12): -3.3% despite beating earnings estimates.
Potash (POT 32.10, -0.99): -3.0% after missing earnings expectations and guiding Q2 earnings below consensus.
Royal Dutch Shell (RDS.A 64.02, +0.52): +0.8% after reporting earnings that may not compare to estimates.
Shire (SHPG 251.80, +6.54): +2.7% after beating revenue estimates.
Teva Pharmaceutical (TEVA 62.22, +0.14): +0.2% after beating earnings/revenue expectations.
Yelp (YELP 42.40, -8.88): -17.3% after missing estimates and guiding below consensus.

Reviewing overnight developments:

Asian markets ended lower. Japan's Nikkei -2.7%, Hong Kong's Hang Seng -0.9%, and China's Shanghai Composite -0.8%
In economic data:
Japan's March Industrial Production -0.3% month-over-month (expected -2.3%; prior -3.1%); March Housing Starts +0.7% year-over-year (expected -1.9%; prior -3.1%); March Construction Orders +10.8% year-over-year (prior +1.0%)
South Korea's March Industrial Production -0.4% month-over-month (expected +0.3%; prior +2.3%); -0.1% year-over-year (expected -1.8%; prior -5.0%); March Retail Sales -0.6% month-over-month (expected +1.1%; prior +2.6%); March Service Sector Output -0.4% month-over-month (prior +1.6%)
Australia's March Private Sector Credit +0.5% month-over-month (expected +0.5%; prior +0.5%); Q1 Import Price Index -0.2% quarter-over-quarter (expected +1.1%; prior +0.9%); Q1 Export Price Index -0.8% quarter-over-quarter (expected -0.8%; prior 0.0%)
Singapore's Q2 Business Expectations rose to 5.00 from -3.00
In news:
The Bank of Japan made no changes to its policy and held its key rate at 0.1%, as expected

Major European indices trade near their flat lines. Germany's DAX +0.4%, France's CAC -0.1%, and UK's FTSE is flat. Elsewhere, Italy's MIB +0.4% and Spain's IBEX is flat
Economic data was plentiful:
Eurozone April CPI 0.0% year-over-year (expected -0.1%; prior -0.1%); core CPI +0.6% year-over-year, as expected. Separately, the Unemployment Rate held at 11.3% (expected 11.2%)
Germany's March Retail Sales -2.3% month-over-month (consensus 0.4%; last -0.1%); +3.5% year-over-year (expected 3.2%; last 3.3%). Separately, April Unemployment Change -8,000 (expected -13,000; prior -14,000)
French March Consumer Spending -0.6% month-over-month (expected -0.3%; last 0.2%)
Italy's April CPI +0.3% month-over-month (consensus 0.2%; prior 0.1%); 0.0% year-over-year (expected -0.1%; last -0.1%). Separately, Monthly Unemployment Rate rose to 13.0% from 12.7% (consensus 12.6%)
Spain's Q1 GDP rose 0.9% quarter-over-quarter (consensus 0.8%; last 0.7%); 2.6% year-over-year (expected 2.5%; prior 2.0%). February Current Account deficit widened to EUR2.03 billion from EUR400 million while April CPI -0.6% year-over-year (expected -0.7%; prior -0.7%)
Among news of note:
The European Central Bank released its Economic Bulletin, which indicated that longer-term expectations have recovered off the mid-January low

5:54 am: [BRIEFING.COM] S&P futures vs fair value: -7.10. Nasdaq futures vs fair value: -22.90.

5:54 am: [BRIEFING.COM] Nikkei...19520.01...-538.90...-2.70%. Hang Seng...28133...+267.30...-0.90%.

5:54 am: [BRIEFING.COM] FTSE...6943.26...-3.00...0.00%. DAX...11396.51...-36.20...-0.30%.

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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