TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Fri Mar 29, 2024 1:10 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: April 9th Thursday Trade Results - Profit $2062.50
PostPosted: Fri Apr 10, 2015 3:45 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
040915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2062.50.png
040915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2062.50.png [ 94.33 KiB | Viewed 306 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2,062.50 dollars or +41.25 points, Light Crude Oil CL ($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 @ $2,062.50 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 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=2047

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

-----------------------------

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.

Attachment:
040915-Key-Price-Action-Markets.png
040915-Key-Price-Action-Markets.png [ 1.25 MiB | Viewed 295 times ]

click on the above image to view today's price action of key markets


4:05 pm: [BRIEFING.COM] The stock market ended Thursday on a modestly higher note after enduring a volatile session. The S&P 500 added 0.5% after finding support at its 50-day moving average (2,076) while small caps struggled with the Russell 2000 sliding 0.4%.

Equity indices rallied out of the gate after index futures erased their overnight losses. However, the cash market did not escape without making its own appearance in the red, but the morning pullback was limited in scope. The S&P 500 briefly dipped below its 50-day moving average and returned into the green in short order. The bulk of the afternoon saw the index range near its unchanged level, but the final hour of action featured a surge to a fresh high for the day.

Eight of ten sectors registered gains with all six cyclical groups ending higher. The growth-sensitive bunch was led by energy (+1.6%), which held the lead throughout the day. The sector held its own while crude oil slumped from its intraday high, but still rose 0.7% to $50.81/bbl.

Meanwhile, the remaining cyclical sectors posted slimmer gains with materials (+0.4%) ending ahead of the broader market. Relative strength among steelmakers and chemical-related names overshadowed Alcoa's (AA 13.22, -0.45) 3.3% decline after the company reported a two-cent beat on below-consensus revenue. In addition, Alcoa said it expects aluminum demand to grow by 6.5% in 2015 after revising its 2014 global demand growth to 9.0% from 7.0%.

Elsewhere among cyclical sectors, technology (+0.3%) lagged in the early going, but narrowed the gap by the close. Intel (INTC 31.24, -0.07) shed 0.2% after it was reported the company is no longer looking to acquire Altera (ALTR 43.33, +1.33) after the two could not agree on a purchase price. Strikingly, Altera was down more than 7.0% in the early going, but managed to end the day higher by 3.2%.

Also of note, the discretionary sector (+0.1%) struggled to keep pace amid weakness in retail names in reaction to disappointing same store sales in March. The SPDR S&P Retail ETF (XRT 101.11, -0.40) lost 0.4%.

Over on the countercyclical side, the health care sector (+0.8%) outperformed throughout the session while biotechnology could not overtake its early high. Still, the iShares Nasdaq Biotechnology ETF (IBB 353.06, +1.05) added 0.3%.

Treasuries retreated throughout the day with the 10-yr yield climbing six basis points to 1.96%.

Today's participation was comparable to recent sessions with more than 675 million shares changing hands at the NYSE floor.

Economic data was limited to initial claims and wholesale inventories:

The initial claims level increased to 281,000 for the week ending April 4 from a downwardly revised 267,000 (from 268,000) for the week ending March 28
The Briefing.com consensus expected an increase to 285,000
The four-week moving average has dropped to 282,250 from 285,250, representing the lowest level since June 2000
Wholesale inventories increased 0.3% in February after increasing an upwardly revised 0.4% (from 0.3%) in January
The Briefing.com consensus expected an increase of 0.2%
Wholesale durable goods inventories increased 0.3% in February, down from a 0.7% increase in January
Automotive inventories, up 2.4%, offset declines in most other sectors

Tomorrow, Import/Export Prices for March will be released at 8:30 ET while the March Treasury Budget (Briefing.com consensus -$44.00 billion) will cross the wires at 14:00 ET.

3:40 pm: [BRIEFING.COM]

WTI crude oil recovered some today and traded in positive territory the whole session
However, WTI oil quickly gave back most of its gains after a brief move above $52/barrel
May crude ultimately closed $0.37 higher at $50.81/barrel
Nat gas sold off following bearish weekly storage data this morning and ended $0.09 lower at $2.53/MMBtu
A strong dollar index continued to weigh on precious metals today, hurting gold and silver
June gold ended pit trading $9.50 lower at $1193.80/oz, while May silver lost $0.30 to $16.17/oz

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.2% going into the home stretch.

The benchmark index charged out of the gate, but selling pressure kicked in around the 2,088 level and sent the S&P 500 back to its flat line where the bulk of today's action has occurred.

Unlike the S&P 500, the energy sector (+1.6%) has been able to eclipse its opening high and the sector enters the last hour well ahead of other groups. Meanwhile, the health care sector (+0.4%), which also showed early strength, trades closer to the broader market with biotechnology little changed, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 352.21, +0.20).

2:30 pm: [BRIEFING.COM] Equity indices have settled into narrow ranges near their flat lines. For its part, the S&P 500 (+0.1%) has bounced between 2,082 and 2,086 for the past two hours or so.

Meanwhile in the commodity market, crude oil has continued its wild ride, sliding from its afternoon high. The energy component remains higher by 0.7% at $50.77/bbl with the pit session about to end for the day. The action has taken place amid a steady rally in the Dollar Index (99.35, +1.09), which is higher by 1.1%. Most notably, the euro/dollar pair is lower by 120 pips as it hovers near its session low at 1.0644

1:55 pm: [BRIEFING.COM] The major averages remain near their flat lines.

Layoff trends fell to their lowest levels in nearly 15 years.

The initial claims level increased to 281,000 for the week ending April 4 from a downwardly revised 267,000 (from 268,000) for the week ending March 28. The Briefing.com Consensus expected the initial claims level to increase to 285,000.

The continuing claims level declined to 2.304 mln for the week ending March 28 from an upwardly revised 2.327 mln (from 2.325 mln) for the week ending March 21. The consensus expected the continuing claims level to increase to 2.395 mln.

The four-week moving average for initial claims dropped to 282,250 from 285,250. That is the lowest level since June 2000.

Meanwhile, the continuing claims level is at the lowest point since December 2000.

1:35 pm: [BRIEFING.COM] The stock market continues to act in a fickle manner, with neither buyers nor sellers showing any real conviction. At the moment, buyers are dictating the direction of things. Their influence started to be felt just before 11:30 ET when the S&P 500 tested and held its 50-day simple moving average at 2074.

Notwithstanding the upswing over the past few hours, the S&P 500 is up just 0.2% for the session in what has been a laborious week of trading so far.

Notably, the semiconductor space is doing well today, evidenced by a 1.1% gain in the Philadelphia Semiconductor Index. There was a presumption before the open that the group might struggle following a CNBC report that Intel (INTC 31.46, +0.15) ended its takeover talks with Altera (ALTR 43.75, +1.75) after sources said the two companies couldn't agree on a price.

Altera initially traded more than 7% lower on that news but has come bouncing back on subsequent speculation that it could ultimately be compelled to accept Intel's offer, which was reportedly in the low $50 range.

Separately, longer-dated Treasury securities have come under selling pressure following a weak 30-yr bond auction. The 10-yr note, which was up earlier this morning, is now down 15 ticks with its yield at 1.96%.

1:00 pm: [BRIEFING.COM] The stock market has endured a volatile start to the Thursday session. The S&P 500 (+0.1%) currently holds a modest gain, which puts the index in the top half of today's trading range.

Equity indices began the day with slim gains amid early strength in biotechnology, but the market hit a point of resistance during the opening minutes and reversed into the red. That slide was halted once the S&P 500 dipped below its 50-day moving average (2,076), which has served as support for the time being.

The benchmark index has been able to return above its flat line, but small cap stocks have not been as resilient with the Russell 2000 trading lower by 0.3%.

Individual sectors are split down the middle with energy (+1.4%) and health care (+0.5%) showing relative strength while technology (-0.1%), financials (-0.1%), and consumer discretionary (-0.2%) have struggled to keep pace.

The energy sector has outperformed since the start thanks to a rebound in crude oil following yesterday's drubbing. Currently, the energy component is higher by 1.7% at $51.27/bbl even though the Dollar Index (99.20, +0.94) has returned to levels last observed three weeks ago.

Unlike energy, most of the remaining cyclical sectors have struggled to stay out of the red, but the materials space (+0.3%) sports a modest gain; however, Alcoa (AA 13.12, -0.55) has given up 4.0% after reporting a two-cent beat on below-consensus revenue. The company said it expects aluminum demand to grow by 6.5% in 2015 after revising its 2014 global demand growth to 9.0% from 7.0%.

Moving to the countercyclical side, the health care sector (+0.4%) remains in a position of relative strength even though the biotech group has surrendered its early advance with the iShares Nasdaq Biotechnology ETF (IBB 351.80, -0.21) little changed at this juncture.

Treasuries have erased their overnight gains, sliding to new lows with the 10-yr yield higher by four basis points at 1.93%.

Economic data was limited to initial claims and wholesale inventories:

The initial claims level increased to 281,000 for the week ending April 4 from a downwardly revised 267,000 (from 268,000) for the week ending March 28
The Briefing.com consensus expected an increase to 285,000
The four-week moving average has dropped to 282,250 from 285,250, representing the lowest level since June 2000
Wholesale inventories increased 0.3% in February after increasing an upwardly revised 0.4% (from 0.3%) in January
The Briefing.com consensus expected an increase of 0.2%
Wholesale durable goods inventories increased 0.3% in February, down from a 0.7% increase in January Automotive inventories, up 2.4%, offset declines in most other sectors

12:25 pm: [BRIEFING.COM] Not much change since our last update with the key indices drifting near their flat lines. The Nasdaq Composite displayed relative strength in the early going, but the tech-heavy index now trades essentially in-line with the Dow and S&P 500 (+0.1%).

Unlike the three major indices, the small-cap Russell 2000 has faced more aggressive selling pressure and the index is now lower by 0.6%. Interestingly, the underperformance among small cap listings has not led to comparable weakness in high-beta areas like chipmakers or transport stocks. The PHLX Semiconductor Index is higher by 0.8% while the Dow Jones Transportation Average trades flat.

11:55 am: [BRIEFING.COM] Equity indices have recovered from their recently-established lows, but the S&P 500 remains just below its flat line as the volatile action continues.

The energy sector (+1.1%) has been able to extend its advance with some assistance from crude oil, which has climbed off its intraday low and now hovers just above $51.00/bbl (+1.3%). That being said, the remaining cyclical sectors are still trapped in the red.

Even though five of six cyclical groups trade lower, their losses have been limited to no more than 0.4% (financials).

Elsewhere, Treasuries are testing their lows with the 10-yr yield higher by three basis points at 1.93%.

11:30 am: [BRIEFING.COM] Recent action saw the S&P 500 (-0.3%) dip below its 50-day moving average (2076), which has been an area of focus for the past few weeks. In fact, the S&P 500 has already crossed that level three times in just five April sessions.

With the market extending its decline, the health care sector has turned negative while energy (+0.7%) continues hanging onto a solid gain.

Elsewhere, the technology sector (-0.4%) lags with most large cap names under pressure. Apple (AAPL 124.93, -0.67), Google (GOOGL 543.31, -5.53) and Intel (INTC 31.17, -0.15) display losses between 0.5% and 1.0% while Altera (ALTR 41.93, -0.07) has held up relatively well even though it was reported earlier that Intel is no longer interested in acquiring the company. Shares of Altera remain higher by 21.8% since the takeover rumor first surfaced.

10:55 am: [BRIEFING.COM] Equity indices have extended their pullback from the opening highs with the S&P 500 now down 0.2%. Only two sectors have been able to remain in positive territory, but both have narrowed their gains. The health care sector is now up just 0.1% while energy remains higher by 0.6%.

Interestingly, the energy sector has held up relatively well even though crude oil has approached its overnight low. The energy component was up near 2.0% earlier this morning, but that gain has been trimmed to 0.6% at $50.70/bbl. Dollar strength likely played a part in the pullback, considering the Dollar Index (98.98, +0.72) has returned to levels last seen in the middle of March. The index is higher by 0.7% with the euro trading below the 1.0700 mark (-60 pips).

10:45 am: [BRIEFING.COM]

The dollar index is once again trading higher, now +0.8% at 98.75, driven largely by FOMC minutes that were widely interpreted as supporting an interest rate increase in June
Crude oil futures are also seeing strong gains, paring losses from yesterday's bearish EIA data release. WTI is currently trading up 0.8% at $50.88/barrel
Precious metals have been under selling pressure due to the strengthening dollar, with a moderate gold and strong silver downtrend in early price action.
June gold is currently down 0.8% at $1193.60/oz, and May silver stands -1.8% at $16.16/oz
Natural gas was flat ahead of the weekly inventory data that showed working gas in storage of 1,476 bcf (as of April 3, 2015), representing a net build of 15 bcf
Following the data, nat gas quickly dropped to a new LoD and is now -2.5% at $2.55/MMBtu
May copper is seeing modest gains at +0.2% at $2.73/lb
Ahead of today's USDA's WASDE report, Corn is -0.9% at $3.76/bu, Wheat -1.7% at $5.17/bu, Soybeans -1.2% at $9.60/bu

10:00 am: [BRIEFING.COM] The major averages have slumped from their early highs with the S&P 500 dipping below its flat line.

Heavily-weighted financials (-0.3%) and technology (-0.2%) have lagged from their start and their underperformance is taking a toll on the market. On the flip side, health care (+0.5%) and energy (+0.7%) continue showing relative strength.

Just released, February wholesale inventories rose 0.3%, while the Briefing.com consensus expected an uptick of 0.2%. Today's report followed last month's revised increase of 0.4% (from 0.3%).

9:40 am: [BRIEFING.COM] The major averages were quick to erase their early losses thanks to early strength in the health care sector (+0.6%), and specifically, biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 354.79, +2.78) rocketed out of the gate and is currently higher by 0.8%. That early strength has helped the Nasdaq Composite (+0.4%) spend the opening minutes ahead of the S&P 500 (+0.2%).

Similar to health care, most other sectors trade in the green while utilities (-0.6%) and telecom services (-0.2%) lag. Also of note, heavily-weighted technology and financials trade just above their flat lines.

Treasuries have dropped to new lows, pushing the 10-yr yield higher by two basis points to 1.91%.

The Wholesale Inventories report for February (Briefing.com consensus 0.2%) will be released at 10:00 ET.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -0.60. The stock market is on track for a modestly lower open as futures on the S&P 500 trade three points below fair value.

Index futures have spent the bulk of the night in negative territory, but they were able to climb off their lows this morning. Nasdaq futures have had the best showing (-1 vs fair value) while S&P futures remain a bit deeper in the red.

Last evening, Alcoa (AA 13.34, -0.33) reported a two-cent beat on revenue that missed analyst expectations. In addition, the company revised last year's global aluminum demand growth to 9.0% from 7.0%, but they expect to see a slowdown to 6.5% this year.

With Alcoa out of the way, investors will receive plenty more Q1 earnings next week.

In other corporate news, CNBC has reported that Intel (INTC 30.62, -0.69) is no longer looking to acquire Altera (ALTR 37.25, -4.75) after the two could not agree on a purchase price.

On the economic front, weekly initial claims increased to 281,000 from last week's revised reading of 267,000 (from 268,000), but despite the increase, the four-week moving average has dropped to 282,250 from 285,250, representing the lowest level since June 2000.

One more data point remains on the schedule with the Wholesale Inventories report for February (Briefing.com consensus 0.2%) expected at 10:00 ET.

Treasuries have erased their early morning gains and now trade little changed with the 10-yr yield at 1.89%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -2.10. Nasdaq futures vs fair value: +4.20. The S&P 500 futures trade two points below fair value.

The action was mixed in markets across the Asia-Pacific region on Thursday. Hong Kong's Hang Seng, however, remained decidedly hot as it rallied 2.7% on the heels of Wednesday's 3.8% gain. The Shanghai Composite had a rare off day, declining 0.9% in a profit-taking move. On a separate note, the Bank of Korea kept its key interest rate unchanged at 1.75%, as expected

In economic data:
Australia's AIG Construction Index for March rose to 50.1 from 44.0
Japan's Machine Tool Orders rose 14.6% year-over-year (prior 28.9%)

------

Japan's Nikkei increased 0.8%, bolstered by gains in the consumer non-cyclical (+1.3%) and consumer cyclical (+1.0%) sectors. Thursday's advance left the Nikkei trading just shy of the psychological 20,000 level. Individual standouts included Nissan Motor (+4.6%), UNY Group Holdings (+4.3%), and Eisai Co (+3.8%). Tokuyama Corp (-3.7%) was the worst-performing issue. Out of the 225 index members, 121 ended higher, 94 finished lower, and 10 were unchanged.
Hong Kong's Hang Seng followed up Wednesday's 3.8% gain with a 2.7% gain on Thursday. Reports point to active buying interest from mainland investors who used up their daily quota again in the Shanghai-Hong Kong Stock Connect program. The financial sector (+3.8%) powered the move. Lenovo Group (+9.1%), Hong Kong Exchanges and Clearing (+8.9%), China Mengniu Dairy Co (+6.9%), PetroChina (+6.6%), and China Overseas Land & Investment Ltd (+6.5%) led all gainers. Out of the 50 index members 47 ended higher, only two finished lower, and 1 was unchanged.
China's Shanghai Composite declined 0.9% (only its third decline in the last 21 trading sessions). There wasn't any specific news to account for the retreat, which was likely a function of profit taking. The worst-performing issues on Thursday included Sanlian Commercial (-9.8%), YUD Yangtze River (-8.6%), Guizhou Changzheng Tiacheng Holding (-8.3%), Harbin High-Tech Group (-7.6%), and Shaghai Trendzone Construction Decoration Group (-7.2%).

Major European indices trade higher across the board with France's CAC (+1.0%) holding the lead. On a separate note, the Greek finance ministry said it has made the scheduled repayment to the International Monetary Fund in the amount of EUR450 million. Elsewhere, the Bank of England made no changes to its policy stance, keeping its key rate and purchasing program at their respective 0.5% and GBP375 billion.

Participants received several data points:
Germany's February trade surplus widened to EUR19.70 billion from EUR19.60 billion (expected surplus of EUR20.10 billion) as imports rose 1.8% (expected 1.2%; prior -0.2%) while exports fell 1.5% (consensus 1.0%; last -2.1%). Separately, Industrial Production ticked up 0.2% month-over-month, as expected (previous -0.4%)
UK's February trade deficit widened to GBP10.34 billion from GBP9.17 billion (expected deficit of GBP9.00 billion) while Halifax House Price Index increased 8.1% year-over-year (consensus 8.2%; last 8.3%)

------

Germany's DAX is higher by 0.5% with about 2/3 of the index showing gains. Exporters outperform with BMW, Continental, and Volkswagen up between 1.0% and 1.8%. On the flip side, financials lag with Commerzbank and Deutsche Bank lower by 0.6% and 0.4%, respectively.
UK's FTSE has added 0.8% with support from consumer names. Burberry and Sports Direct are among the leaders with respective gains of 3.2% and 2.9% while homebuilder Persimmon trades up 2.6%. Mining names underperform with Anglo American, BHP Billiton, and Rio Tinto down between 0.7% and 1.0%.
France's CAC trades up 1.0% with all but three names in the green. Growth-sensitive listings outperform with Lafarge, Michelin, Valeo, and Renault showing gains between 1.8% and 4.4%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +6.40. The S&P 500 futures trade within a point of fair value.

The latest weekly initial jobless claims count totaled 281,000 while the Briefing.com consensus expected a reading of 285,000. Today's tally was above the revised prior week count of 267,000 (from 268,000). As for continuing claims, they fell to 2.304 million from 2.327 million.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +1.90. Nasdaq futures vs fair value: +8.40. U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover two points above fair value.

Meanwhile, the Dollar Index (98.41, +0.14) has held its ground following yesterday's spike. Despite the continuing dollar strength, crude oil has rebounded from Wednesday's plunge, currently trading higher by nearly 2.0% at $51.36/bbl.

Today's economic data will be limited to weekly Initial Claims (Briefing.com consensus 285K), which will be released at 8:30 ET, while the Wholesale Inventories report for February will cross at 10:00 ET (expected 0.2%).

Treasuries hold slim gains with the 10-yr yield lower by a basis point at 1.89%.

In U.S. corporate news of note:

Alcoa (AA 13.32, -0.35): -2.6% after reporting a two-cent beat on below-consensus revenue. The company said it expects aluminum demand to grow by 6.5% in 2015 after revising its 2014 global demand growth to 9.0% from 7.0%.
Pier 1 Imports (PIR 13.05, +0.40): +3.2% after beating estimates and guiding below analyst expectations.
Walgreens Boots Alliance (WBA 88.00, +0.32): +0.4% following its bottom-line beat on light revenue.

Reviewing overnight developments:

Major Asian markets ended mostly higher. Hong Kong's Hang Seng +2.7%, Japan's Nikkei +0.8%, and China's Shanghai Composite -0.9%
In economic data:
Australia's AIG Construction Index for March rose to 50.1 from 44.0
Japan's Machine Tool Orders rose 14.6% year-over-year (prior 28.9%)
In news:
The Bank of Korea kept its key interest rate unchanged at 1.75%, as expected

European indices trade higher across the board. Germany's DAX +0.6%, UK's FTSE +0.9%, and France's CAC +1.1%. Elsewhere, Spain's IBEX +0.7% and Italy's MIB +0.9%
Participants received several data points:
Germany's February trade surplus widened to EUR19.70 billion from EUR19.60 billion (expected surplus of EUR20.10 billion) as imports rose 1.8% (expected 1.2%; prior -0.2%) while exports fell 1.5% (consensus 1.0%; last -2.1%). Separately, Industrial Production ticked up 0.2% month-over-month, as expected (previous -0.4%)
UK's February trade deficit widened to GBP10.34 billion from GBP9.17 billion (expected deficit of GBP9.00 billion) while Halifax House Price Index increased 8.1% year-over-year (consensus 8.2%; last 8.3%)
Among news of note:
The Bank of England made no changes to its policy stance, keeping its key rate and purchasing program at their respective 0.5% and GBP375 billion

5:51 am: [BRIEFING.COM] S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -6.00.

5:51 am: [BRIEFING.COM] Nikkei...19937.72...+147.90...+0.80%. Hang Seng...26944.39...+707.50...+2.70%.

5:51 am: [BRIEFING.COM] FTSE...6987.79...+50.50...+0.70%. DAX...12080.91...+44.10...+0.40%.

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr