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 Post subject: April 10th Friday Trade Results - Loss $220.00
PostPosted: Fri Apr 10, 2015 5:26 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ ($220.00) dollars or -0.22 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Loss @ ($220.00) 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=2049

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


4:10 pm: [BRIEFING.COM] The major averages ended the week on an upbeat note with the S&P 500 adding 0.5%. The benchmark index extended its weekly advance to 1.7% while the Nasdaq Composite (+0.4%) underperformed today, but still gained 2.2% for the week, ending ahead of the benchmark index.

Equity indices climbed through the first two hours of today's session and inched to fresh highs during late afternoon action. Nine sectors ended in the green while the financial sector closed on its flat line. Interestingly, the influential sector underperformed throughout the week, adding just 0.1%.

Unlike financials, six sectors registered weekly gains of at least 1.0% with the industrial space (+1.8%) climbing 3.3% for the week. Fittingly, the growth-sensitive group spent today's session in the lead, which was mainly due to a 10.8% surge in the shares of General Electric (GE 28.51, +2.78). The Dow component soared after announcing restructuring plans, including the sale of GE Capital real estate assets for about $25.60 billion. In addition, the company authorized a new buyback program of up to $50 billion.

General Electric drove the industrial sector higher while transport stocks also pulled their weight. The Dow Jones Transportation Average gained 0.7% for the day and climbed 1.9% during the week, but the complex remains lower by 4.1% since the end of 2014.

The industrial sector was the only group that added more than 0.9% while most of the remaining cyclical sectors settled behind the broader market. The top-weighted technology sector (+0.4%) was among the early laggards, but was able to finish just behind the broader market. The sector narrowed the gap during afternoon action as Apple (AAPL 127.10, +0.54) erased its early loss brought on by a Raymond James downgrade to 'Market Perform' from 'Outperform.'

Moving to the countercyclical side, health care (+0.9%) and utilities (+0.8%) outperformed with the health care sector receiving support from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 357.44, +4.38) jumped 1.2%, extending its weekly gain to 5.2%.

Treasuries notched their highs right around 9:30 ET and spent the day in a retreat from their highs. The 10-yr note eked out a slim gain, lowering the benchmark yield by a basis point to 1.95%.

Today's participation was relatively light with fewer than 700 million shares changing hands at the NYSE floor.

Economic data was limited to import/export prices:

Export prices, excluding agriculture, increased 0.2% in March after increasing 0.1% in the prior reading
Excluding oil, import prices fell 0.4%, which followed last month's 0.3% decline

Monday's data will be limited to the 14:00 ET release of the Treasury Budget for March.

Nasdaq Composite +5.5% YTD
Russell 2000 +5.0% YTD
S&P 500 +2.1% YTD
Dow Jones Industrial Average +1.3% YTD

Week in Review: S&P 500 Bounces Off 50-Day Moving Average

The major averages began the week on an upbeat note after shaking off their opening losses that were brought on by a disappointing jobs report for March. The S&P 500 spiked 0.7% while the Nasdaq Composite (+0.6%) followed not far behind. The Nonfarm Payrolls report for March was released on Friday and it disappointed on all fronts. Only 126,000 payrolls were added while the Briefing.com consensus expected a reading of 250,000. Since the cash market was closed on Friday, the news weighed on the futures market, sending futures on the S&P 500 down 20 points. Index futures were able to cut their losses in half by Monday's opening bell and the S&P 500 erased a ten-point deficit just 15 minutes into the session. The index spent the rest of the day in a steady climb with all ten sectors logging gains. Once again, the market interpreted bad news as good, rallying on the belief that the disappointing jobs report will cause the Federal Reserve to postpone its first rate hike.

Equity indices halted their two-day win streak on Tuesday with the S&P 500 shedding 0.2%. The benchmark index surrendered its modest intraday gain during the final hour while the Nasdaq Composite (-0.1%) settled just ahead. The major averages climbed out of the gate and hit their session highs during the initial 90 minutes; however, relative weakness among influential sectors like consumer discretionary (-0.5%), financials (-0.4%), and consumer staples (-0.4%) prevented the market from eclipsing the early high. Instead, equities spent the afternoon in a sideways drift and slid into negative territory shortly ahead of the close. Only two sectors finished the day in the green with health care (+0.3%) holding the lead into the afternoon. The countercyclical group underperformed on Monday, but Tuesday's strength was fueled by biotechnology. The iShares Nasdaq Biotechnology ETF (IBB) jumped 0.9% and helped the Nasdaq Composite display relative strength throughout the day. In addition to receiving support from biotechnology, the tech-heavy Nasdaq benefited from strength among chipmakers.

The stock market ended Wednesday on a higher note, but not before making a couple appearances in the red. The S&P 500 added a modest 0.3% while the Nasdaq Composite (+0.8%) outperformed. Equity indices climbed out of the gate with the Nasdaq receiving major support from biotechnology. Meanwhile, the S&P 500 notched its session high during the initial 30 minutes, but returned to its flat line shortly thereafter amid significant weakness in the energy sector (-1.0%). The growth-sensitive energy space was pressured by a tailspin in crude oil futures after latest data from the American Petroleum Institute revealed that crude inventories increased by 10.9 million barrels since last week. As a result, total inventories have reached levels not seen at this time of the year in at least 80 years. WTI crude fell 6.5% to $50.44/bbl, erasing its Tuesday advance, and cutting into its gain from Monday.

Thursday ended on a modestly higher note after the market endured 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.

3:45 pm: [BRIEFING.COM]

WTI crude oil holds some gains and closes above $51/barrel today
May crude closed pit trading $0.83 higher at $51.64/barrel
May nat gas closed $0.02 lower at $2.51/MMBtu
Metals held gains today despite some strength seen in the dollar index
June gold rose $10.90 to $1204.70/oz, while May silver gained $0.22 to $16.39/oz.

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.5% with one hour remaining in the trading week.

This week was very quiet on the earnings front, but Q1 results will begin pouring in with greater frequency after the weekend. Most notably, several major financials appear on next week's schedule with JPMorgan Chase (JPM 61.77, +0.30) and Wells Fargo (WFC 54.34, +0.15) both scheduled to report on Tuesday morning.

Similarly, this week's economic calendar was relatively empty, but next week will include several noteworthy reports, including March Retail Sales. The report will be released on Tuesday at 8:30 ET and is expected to show a 1.0% increase, according to the Briefing.com consensus.

2:25 pm: [BRIEFING.COM] Quiet afternoon action continues with the key indices drifting at their best levels of the session with the S&P 500 on track to end the week higher by 1.7%. The benchmark index spent the early potion of the week near its 50-day moving average, but was able to springboard off that level during yesterday's session.

With the benchmark index tracking a solid weekly gain, nine of ten sectors are on course to add between 0.1% (financials, utilities) and 3.1% (industrials) while the telecom services sector has surrendered 0.6% this week.

Elsewhere, Treasuries have continued their retreat from morning highs with the 10-yr yield narrowing its decline to just one basis point at 1.95%.

1:55 pm: [BRIEFING.COM] The major averages remain near their best levels of the day.

Next week's economic calendar will test the theory that the first quarter slowdown has been a result of extreme weather conditions.

Retail sales declined 0.6% in February after declining 0.8% in January.

There was a lot of talk that the decline in sales was the result of extreme winter weather conditions keeping people from leaving their homes. If that theory is true, then sales should significantly increase in March.

Industrial production increased 0.1% in February after declining 0.3% in January.

Cold temperatures in February helped boost utilities production by 7.3%, which kept overall industrial production growth in the black. A return to more normal temperatures likely reduced the impact of utilities on overall industrial production growth.

Housing starts declined 17.0% in February to 897,000 from 1.081 mln in January.

A significant portion of the decline in February starts was likely the result of inclement weather conditions in the Northeast and Midwest. With more normal temperatures in March, housing starts should return to their previous trend.

1:30 pm: [BRIEFING.COM] The stock market has maintained this week's bullish bias and is now trading in the upper reaches of its 2015 trading range.

Today's advance has been broad-based in nature, but it has yet to find any real sponsorship from the important, and influential, financial sector (unch).

Looking at the Dow Jones Industrial Average, General Electric (GE 27.94, +2.20) is the biggest price gainer, but since the Dow is a price-weighted average, it is Boeing (BA 154.62, +1.20) that is having the biggest impact in moving the Dow.

At the moment, the only Dow components not participating are Nike (NKE 100.13, -0.59), Visa (V 66.21, -0.23), Merck (MRK 57.21, -0.22), Coca-Cola (KO 40.91, -0.14), and Wal-Mart (WMT 80.74, -0.10).

12:55 pm: [BRIEFING.COM] The major averages sport modest midday gains with the Dow (+0.4%) and S&P 500 (+0.4%) trading just ahead of the Nasdaq Composite (+0.3%).

Equity indices rallied through the first two hours of today's session with most sectors taking part in the advance. Most notably, the industrial sector (+1.5%) surged out of the gate thanks to significant strength in General Electric (GE 27.96, +2.22) after the company announced restructuring plans, including the sale of GE Capital real estate assets. In addition, GE has authorized a new buyback program of up to $50 billion.

The industrial sector is the only group with a gain larger than 1.0% while other influential sectors trade in mixed fashion with respect to the broader market. Technology (+0.2%) and financials (+0.1%) lag while the health care sector (+0.6%) outperforms with help from biotechnology.

In fact, biotechnology has represented a pocket of strength throughout the week. The iShares Nasdaq Biotechnology ETF (IBB 356.72, +3.65) is higher by 1.0% today and up 5.0% since the end of last week versus a 2.7% gain for the health care sector.

Elsewhere, the top-weighted tech sector has struggled to stay positive amid mixed action in large cap components. For instance, Apple (AAPL 126.59, +0.03) is little changed after being down near 1.0% in the early going after Raymond James downgraded the stock to 'Market Perform' from 'Outperform.'

Also of note, the high-beta PHLX Semiconductor Index has spent the morning near its flat line, but the group is now up 0.2%. Notably, Altera (ALTR 44.53, +1.20) trades higher by 2.8% even though it was reported yesterday that Intel (INTC 31.72, +0.48) is no longer looking to acquire ALTR.

Treasuries have slipped from their morning highs, but they continue holding half of their gains with the 10-yr yield down two basis points at 1.94%.

Today's economic data was limited to import/export prices:

Export prices, excluding agriculture, increased 0.2% in March after increasing 0.1% in the prior reading
Excluding oil, import prices fell 0.4%, which followed last month's 0.3% decline

The Treasury Budget for March was expected to cross at 14:00 ET, but the release has been postponed until Monday.

12:25 pm: [BRIEFING.COM] Not much change in the market with the S&P 500 (+0.4%) having spent the past two hours in a five-point range.

The industrial sector (+1.5%) remains well ahead of its peers and is the only group with a gain larger than 1.0%. The sector has enjoyed a big boost from shares of General Electric (GE 27.70, +1.97) while transport stocks trade a bit behind the sector. That being said, the Dow Jones Transportation Average (+0.7%) has stayed ahead of the broader market with almost all components in the green.

Elsewhere, Treasuries hover in the middle of their trading range with the 10-yr yield down three basis points at 1.93%.

11:55 am: [BRIEFING.COM] The major averages remain near their recently-established highs with the Russell 2000 (+0.6%) trading ahead of the remaining indices.

All ten sectors are now in the green, but a handful of heavily-weighted groups have struggled to keep pace with the broader market. To that point, technology (+0.1%) and financials (unch) hover near their flat lines.

Notably, the technology sector has been pressured by a handful of large cap names. Google (GOOGL 546.79, -1.23) is lower by 0.2% while Apple (AAPL 126.42, -0.14) also holds a modest loss after Raymond James downgraded the stock to 'Market Perform' from 'Outperform.'

Similarly, high-beta chipmakers have also shown some relative weakness with the PHLX Semiconductor Index trading flat.

11:30 am: [BRIEFING.COM] Equity indices have ticked up to new highs with the S&P 500 (+0.4%) extending this week's gain to 1.6%. The benchmark index has kept pace with the Dow Jones Industrial Average while the Nasdaq Composite has shown relative strength.

The Nasdaq (+0.2%) trades behind the broader market today, but the tech-heavy index has gained 2.0% since last Friday. Biotechnology has contributed to the relative strength with the iShares Nasdaq Biotechnology ETF (IBB 354.55, +1.49) up 4.4% for the week versus a 2.4% gain for the health care sector.

Elsewhere, Treasuries have cut their gains in half with the 10-yr yield now down two basis points at 1.94%.

10:55 am: [BRIEFING.COM] The stock market has extended to a fresh high with the S&P 500 now up 0.4%. The benchmark index trades ahead of the Nasdaq Composite (+0.2%) while the Russell 2000 (+0.5%) outperforms after showing relative weakness yesterday.

Nine of ten sectors are now in the green while the lone decliner-materials-hovers just a couple ticks below its flat line. Meanwhile, the other commodity-linked sector-energy (+0.5%)-is among today's leaders while crude oil trades higher by 1.3% at $51.43/bbl.

Elsewhere among cyclical sectors, the industrial space has extended its gain to 1.4% while technology is now up 0.2% after showing relative weakness in the early going.

10:45 am: [BRIEFING.COM]

Crude oil futures continued to trade moderately higher in the early hours, however oil is ending the week lower after a huge U.S. supply build that came out on Wednesday. WTI is now trading +1.1% at $51.36/barrel
The Baker Hughes rig count will be released today at 1 pm EST
The dollar index erased almost all of its weekly gains in recent trade, however this really hasn't affected oil or precious metals, which are holding solid gains this morning. The index is currently trading at 99.24, up +0.1%
Precious metals saw significant strength today despite strength in the dollar. June gold is now +1.3% at $1209.20/oz and May silver is +2.5% at $16.58/oz
Natural gas futures are slightly higher from yesterday's close, now sitting +0.3% at $2.54/MMBtu
May copper is +1.5% at $2.77/lb

9:55 am: [BRIEFING.COM] Equity indices have inched away from their early highs due to the relative weakness among influential sectors like technology (-0.2%) and health care (unch). Meanwhile, the financial sector (+0.2%) began among the laggards, but the group now trades ahead of the broader market.

Also of note, the health care sector trades behind the broader market even though biotechnology outperforms with the iShares Nasdaq Biotechnology ETF (IBB 355.41, +2.35) trading higher by 0.7%.

Elsewhere, the Dollar Index (99.19, +0.04) has returned to its flat line after showing overnight strength.

9:40 am: [BRIEFING.COM] The major averages began the Friday session with modest gains. The S&P 500 trades higher by 0.2% with eight sectors trading higher in the early going.

As expected, the industrial sector (+1.2%) has spiked into the lead with significant help from General Electric (GE 27.50, +1.77), which has jumped 6.8% after the company announced restructuring plans and authorized a $50 billion buyback program.

Outside of industrials, the remaining sectors display gains of no more than 0.3%. Utilities (+0.3%) and materials (+0.3%) outperform while heavily-weighted financials (-0.1%), technology (-0.2%), and health care (-0.1%) display opening losses.

Treasuries remain near their best levels of the day with the 10-yr yield down four basis points at 1.92%.

9:08 am: [BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +2.20. The stock market is on track for a modestly higher open with futures on the S&P 500 trading four points above fair value. Index futures spent the bulk of the night in negative territory, but climbed to fresh highs shortly after markets in Europe opened for action. Fittingly, European equities sport solid gains at this juncture while the euro has extended yesterday's decline, trading lower by 0.7% against the dollar (1.0590).

In turn, the resulting greenback strength has put the Dollar Index (99.49, +0.34) on track for its fifth consecutive advance. It is worth noting that the Index now hovers not far below its March high.

Interestingly, the return of dollar strength has not stopped equities from rallying. The S&P 500 will enter today's session up 1.2% for the week while the Nasdaq has climbed 1.8% since last Friday.

The industrial sector is expected to display early strength after its top component-General Electric (GE 27.58, +1.85)-announced restructuring plans, including the sale of GE Capital real estate assets. In addition, the company has authorized a new buyback program of up to $50 billion.

Treasuries hover near their highs with the 10-yr yield down four basis points at 1.92%.

8:54 am: [BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +3.40. The S&P 500 futures trade four points above fair value.

Most markets in the Asia-Pacific region closed the week on a winning note. China's Shanghai Composite led the way with a 1.9% gain, which was fueled by renewed thoughts that further policy stimulus might be provided following some relatively soft CPI and PPI inflation data for March. Hong Kong's Hang Seng capped off a huge week with a 1.2% gain.

In economic data:
China's March CPI -0.5% month-over-month (expected -0.6%; prior 1.2%); +1.4% year-over-year (consensus 1.3%; last 1.4%). Separately, PPI -4.6% year-over-year (expected -4.8%; prior -4.8%)
Australia's February Home Loans +1.2% month-over-month (consensus 3.0%; previous -1.7%)

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Japan's Nikkei flirted with a close above 20,000, but declined 0.2% to miss the mark. Relative weakness in the consumer non-cyclical (-0.9%), basic materials (-0.7%), financial (-0.5%), and industrial (-0.4%) sectors weighed. Top gainers included Aeon Co (+5.5%), Pioneer Corp (+5.4%) and Alps Electric Co (+4.5%). Eisai Co (-5.0%) led the decliners along with Mitsumi Electric Co (-3.8%) and Tokyo Electric Power (-3.1%). Out of the 225 index members, 53 ended higher, 165 finished lower, and 7 were unchanged. For the week the Nikkei gained 2.4%.
Hong Kong's Hang Seng kept on running, adding another 1.2% on continued buying activity from mainland investors. For the week, the Hang Seng surged 7.9%. Friday's gains were led by the influential financial sector (+2.2%). Individual standouts included Ping An Insurance (+6.1%), Belle International Holdings (+4.6%), and Hong Kong Exchanges and Clearing (+3.9%). Out of the 50 index members, 38 ended higher, 9 finished lower, and 3 were unchanged.
China's Shanghai Composite broke its one-day losing streak with a 1.9% gain following CPI and PPI reports for March that seemingly supported the case for more policy stimulus. Gains were broad-based with the consumer non-cyclical (+3.1%) and industrial (+2.2%) sectors leading the Chinese market. For the week the Shanghai Composite gained 4.4%.

Major European indices trade higher across the board with Germany's DAX (+1.8%) trading well ahead of its peers. In the foreign exchange market, the euro has extended yesterday's retreat, dropping below 1.0575 against the dollar (-0.8%).

Participants received several data points:
UK's February Industrial Production +0.1% month-over-month (consensus 0.3%; prior -0.1%) while Manufacturing Production +0.4% month-over-month, as expected
France's February Industrial Production was unchanged month-over-month (expected -0.1%; prior 0.3%)
Spain's February Industrial Production +0.6% year-over-year (last 0.1%)
Swiss March Unemployment Rate held at 3.2%, as expected

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Germany's DAX leads the region with a 1.8% gain. Deutsche Boerse is a standout performer, up 3.1% following upbeat analyst commentary. Other financials trade behind the index with Commerzbank and Deutsche Bank both up near 0.5%. Also of note, health care names display solid gains with Bayer, Fresenius Medical, and Merck up between 1.8% and 2.4%.
France's CAC trades higher by 0.5% with growth-sensitive names in the lead. ArcelorMittal, Renault, Technip, and Solvay show gains between 1.6% and 2.1%. On the flip side, financials lag with BNP Paribas down 0.9% while Societe Generale trades little changed.
UK's FTSE has added 0.5% with homebuilders contributing to the strength. Barratt Developments and Taylor Wimpey hold respective gains of 2.9% and 2.1%. Drugmaker Shire also outperforms, trading higher by 5.5%.
Spain's IBEX holds a slim gain of 0.1% with several financials under pressure. Bankinter, BBVA, and Banco Popular display losses between 0.3% and 2.0%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +4.40. Nasdaq futures vs fair value: +3.70. The S&P 500 futures trade four points above fair value.

Export prices, excluding agriculture, increased 0.2% in March after increasing 0.1% in the prior reading. Excluding oil, import prices fell 0.4%, which followed last month's 0.3% decline.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +4.60. U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover five points above fair value after climbing off their lows at the start of the European session.

Meanwhile, the greenback has continued its recent strength with the Dollar Index (99.55, +0.40) working on its fifth advance in a row. Including today's gain, the index hovers within a couple points of its March high.

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.

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

In U.S. corporate news of note:

Apple (AAPL 126.00, -0.56): -0.4% after Raymond James downgraded the stock to 'Market Perform' from 'Outperform.'
General Electric (GE 27.67, +1.94): +7.5% after announcing restructuring plans, including the sale of GE Capital real estate assets. In addition, the company has authorized a new buyback program of up to $50 billion
Medicines Company (MDCO 25.75, -2.07): -7.4% after issuing below-consensus guidance for the first quarter.
Netflix (NFLX 449.55, +10.05): +2.3% after Citigroup upgraded the stock to 'Buy' from 'Neutral.'

Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite +1.9%, Hong Kong's Hang Seng -1.2%, and Japan's Nikkei -0.2%
In economic data:
China's March CPI -0.5% month-over-month (expected -0.6%; prior 1.2%); +1.4% year-over-year (consensus 1.3%; last 1.4%). Separately, PPI -4.6% year-over-year (expected -4.8%; prior -4.8%)
Australia's February Home Loans +1.2% month-over-month (consensus 3.0%; previous -1.7%)
In news:
Shanghai is expected to raise its mortgage loan allowance to CNY1 million from CNY600,000. This increase will apply to Shanghai's housing fund program.

Major European indices trade higher across the board. UK's FTSE +0.4%, France's CAC +0.5%, and Germany's DAX +1.6%. Elsewhere, Italy's MIB +0.4% and Spain's IBEX +0.1%
Participants received several data points:
UK's February Industrial Production +0.1% month-over-month (consensus 0.3%; prior -0.1%) while Manufacturing Production +0.4% month-over-month, as expected
France's February Industrial Production was unchanged month-over-month (expected -0.1%; prior 0.3%)
Spain's February Industrial Production +0.6% year-over-year (last 0.1%)
Swiss March Unemployment Rate held at 3.2%, as expected
Among news of note:
The euro has extended yesterday's retreat, dropping below 1.0600 against the dollar, which represents a 0.7% decline for the single currency.

5:49 am: [BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +2.30.

5:49 am: [BRIEFING.COM] Nikkei...19907.63...-30.10...-0.20%. Hang Seng...27272.39...+328.00...+1.20%.

5:49 am: [BRIEFING.COM] FTSE...7034.44...+19.10...+0.30%. DAX...12291.98...+124.50...+1.00%.

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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