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 Thu Mar 28, 2024 11:08 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: April 16th Thursday Trade Results - Profit $1422.50
PostPosted: Fri Apr 17, 2015 12:55 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:
041615-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1422.50.png
041615-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1422.50.png [ 87.38 KiB | Viewed 287 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 @ $1,062.50 dollars or +21.25 points, Light Crude Oil CL ($CL_F) futures @ $360.00 dollars or +0.36 points, Gold GC ($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 @ $1,422.50 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=2053

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:
041615-Key-Price-Action-Markets.png
041615-Key-Price-Action-Markets.png [ 1.06 MiB | Viewed 292 times ]

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


4:15 pm: [BRIEFING.COM] The major averages ended Thursday on a modestly lower note, but they were able to climb off their opening lows. The S&P 500 shed 0.1% after spending the day in a 12-point range.

Equity indices struggled in the early going after an overnight report from the Financial Times indicated that Greek officials have asked the International Monetary Fund to reschedule debt repayments that will be due in May. The report was denied by Greek Finance Minister Yanis Varoufakis, but European investors displayed caution, which contributed to the lower start in the U.S.

However, a batch of better than expected earnings offset the Greece-related news. The S&P 500 ranged near its low during the opening hour and climbed into the afternoon. The index spent about an hour in the green, but slipped back into the red before the close.

Only three sectors registered gains, but most of the decliners finished not far below their flat lines. The utilities (-0.6%) sector was the weakest performer, but that had little impact on the market since the sector makes up just 3.0% of the S&P 500.

Elsewhere among countercyclical groups, the consumer staples sector (+0.4%) spent the day atop the leaderboard thanks to better than expected earnings and upbeat guidance from Philip Morris (PM 84.96, +6.83).

Moving to the cyclical side, the consumer discretionary sector (+0.2%) outperformed with help from the shares of Netflix (NFLX 562.05, +86.59), which surged 18.2% to a new record high after the company beat bottom line estimates. The big spike in Netflix overshadowed losses among homebuilders brought on by a disappointing Housing Starts report. The iShares Dow Jones US Home Construction ETF (ITB 27.91, -0.53) lost 1.9%.

Similar to the discretionary sector, financials (+0.1%) held a slim gain throughout the day after two major components reported earnings. Citigroup (C 54.02, +0.81) gained 1.5% in reaction to its bottom-line beat while Dow component Goldman Sachs (GS 200.21, -0.89) shed 0.4% despite beating estimates and boosting its quarterly dividend to $0.65/share.

On the downside, the technology sector (-0.3%) could not make it out of the red as chipmakers weighed after SanDisk (SNDK 67.97, -3.15) missed earnings expectations and guided below consensus while Taiwan Semiconductor (TSM 23.24, -0.27) beat on the bottom line beat, but issued cautious revenue guidance for Q2. The two lost 4.4% and 1.2%, respectively while the PHLX Semiconductor Index fell 0.5%.

Treasuries spent some time on either side of their flat lines before ending just above the unchanged level. The 10-yr yield slipped one basis point to 1.89%.

Today's participation was in-line with recent averages as roughly 740 million shares changed hands at the NYSE floor.

Economic data included Initial Claims, Housing Starts, and Philadelphia Fed Survey:
Related Stories

InPlay from Briefing.com Briefing.com
US STOCKS-Wall Street climbs after 2-day decline; focus on jobs data Reuters
Look Under The Hood For Why The S&P 500 Has Stalled Investor's Business Daily
Dow off triple digits; S&P, Nasdaq continue 9th quarterly win streaks CNBC
Stocks Are Mixed but S&P 500 Gets Lift From Energy Sector TheStreet.com

The initial claims level increased to 294,000 for the week ending April 11 from an upwardly revised 282,000 (from 281,000) while the Briefing.com consensus expected a decline to 280,000
Despite the increase, the four-week moving average was virtually unchanged at 283,000, a level last seen in 2000
Continuing claims fell to 2.268 million from an upwardly revised 2.308 million (from 2.304 million) while the consensus expected an increase to 2.325 million
Housing starts increased 2.0% in March to 926,000 from an upwardly revised 908,000 (from 897,000) in February while the Briefing.com consensus expected an increase to 1.045 million
In February, housing starts dropped 15.3%, which was blamed on adverse weather, meaning starts should have rebounded in the hardest hit areas of the country
The Northeast did return to January levels, as expected, but the rebound in the Midwest was poor and remained well below previous trends
Furthermore, starts in the unaffected West (-19.3%) and South (-3.5%) fell to levels not seen since the first half of 2014, suggesting economic reasons and not weather bear responsibility for the lackluster start to the year
The Philadelphia Fed's Business Outlook Survey increased to 7.5 in April from 5.0 in March while the Briefing.com consensus expected an increase to 7.2

Tomorrow, March CPI (Briefing.com consensus 0.3%) will be reported at 8:30 ET while March Leading Indicators (expected 0.3%) and the preliminary reading of the Michigan Sentiment Index for April (expected 94.0) will be released at 10:00 ET.

Russell 2000 +5.8% YTD
Nasdaq Composite +5.7% YTD
S&P 500 +2.2% YTD
Dow Jones Industrial Average +1.6% YTD

3:40 pm: [BRIEFING.COM]

WTI oil rallied off its morning low to well over $57/barrel in trade today
May crude ultimately closed $0.46 to $56.71/barrel
May nat gas futures held gains following post-data rally. May NG closed near its HoD, ending $0.07 at $2.68/MMBtu
Copper also held earlier gains, closing near today's high. May copper ended pit trading $0.05 higher at $2.77/lb.
June gold finished $3.10 lower at $1198.20/oz, while May silver ended flat at $16.30/oz

2:55 pm: [BRIEFING.COM] The S&P 500 trade higher by 0.2% with one hour remaining in the Thursday session. Thanks to today's slim gain, the benchmark index is on track to enter Friday with a week-to-date gain of 0.4%. The benchmark index has kept pace with the Nasdaq while the price-weighted Dow has added 0.5% this week.

Meanwhile, six of ten sectors currently sport week-to-date gains between 0.1% (technology) and 3.4% (energy) while the utilities sector represents this week's worst performer. The countercyclical group is down 0.8% since last Friday.

2:25 pm: [BRIEFING.COM] The major averages remain near their highs with the S&P 500 showing a three-point gain. The benchmark index spent the first hour of the session near its opening low, but has been able to turn positive during the past hour. As a result, only three sectors remain in the red with just one of the three-utilities (-0.5%)-down more than 0.1%.

Elsewhere, the top-weighted technology sector (-0.1%) remains just below its flat line amid continued weakness in chipmaker stocks in reaction to disappointing earnings/guidance from SanDisk (SNDK 67.95, -3.17) and Taiwan Semiconductor (TSM 23.24, -0.27). The PHLX Semiconductor Index remains lower by 0.5%.

1:55 pm: [BRIEFING.COM] The major averages hover just above their flat lines.

The March housing data was another blow against the idea that weather is the root cause for the disappointing first quarter economic data.

Housing starts increased 2.0% in March to 926,000 from an upwardly revised 908,000 (from 897,000) in February. The Briefing.com Consensus expected housing starts to increase to 1.045 mln.

In February, housing starts dropped 15.3% from 1.072 mln in January and fell below 1.00 mln for the first time since August 2014. At the time, the collapse in starts was blamed on extreme inclement weather conditions that impacted the Northeast and the Midwest.

Going by the weather theory, starts should have rebounded in those two areas of the country, and stability in the South and West should have brought total starts back to January levels.

The Northeast did return to January levels, as expected. However, the rebound in the Midwest was poor and remained well below previous trends.

Furthermore, starts in the unaffected West (-19.3%) and South (-3.5%) fell to levels not seen since the first half of 2014.

Altogether, the trends in the housing market point to lackluster production for economic reasons as opposed to a one-time exogenous shock.

1:35 pm: [BRIEFING.COM] The major U.S. indices continue to flutter right around break-even levels with the Dow Jones Industrial Average poking slightly into positive territory in recent trade.

Energy has rallied significantly since the open, with WTI crude now posting gains after earlier trading lower by 2%. Natural gas has also staged a rally (+2.5% to $2.675/mmbtu) despite the weekly EIA report showing a larger than expected 63 bcf build in inventories.

In equities, it has been a busy, but successful day in the IPO world with several new companies on the public landscape enjoying prosperous first days of trading. Retailer Party City (PRTY 20.17, +3.17) +19% after pricing at $17 per share. Online marketplace Etsy (ETSY 30.04, +14.04) +88% after pricing at $16. Lastly, High Frequency Trading Firm Virtu Financial (VRTU 40.29, -0.12), +17% after pricing at $19 per share.

12:55 pm: [BRIEFING.COM] The major averages hover just below their flat lines at midday after climbing off their opening lows. The S&P 500 remains lower by 0.1% after erasing the bulk of its six-point deficit.

Equity indices faced some slight pressure at the start after an overnight report from the Financial Times indicated that Greek officials have approached the IMF about the possibility of rescheduling repayments that are due in May, suggesting the country will have difficulty meeting the upcoming deadlines. The report was denied by Greek Finance Minister Yanis Varoufakis, but that did not stop European equities from retreating.

Meanwhile, U.S. indices started in the red, but a set of mostly better than expected earnings have helped the S&P 500 return into the neighborhood of its flat line. Six sectors display midday losses while consumer discretionary (+0.2%), consumer staples (+0.4%), financials (+0.2%), and health care (+0.01%) outperform.

The discretionary sector has rallied behind Netflix (NFLX 552.70, +77.24) after the company beat bottom-line estimates. The stock has surged 15.5%, which has overshadowed losses among homebuilders after the March Housing Starts report missed expectations. The iShares Dow Jones US Home Construction ETF (ITB 27.93, -0.51) has given up 1.8%.

Elsewhere, the financial sector holds a modest gain thanks to better than expected earnings from Citigroup (C 54.12, +0.91). Another major sector component, Goldman Sachs (GS 199.77, -1.33), also beat estimates, but its shares have retreated 0.7%.

Moving to the countercyclical side, the consumer staples sector holds the lead with shares of Philip Morris (PM 84.44, +6.31) up 8.1% after the company beat estimates and raised its guidance.

Lastly, the health care sector has spent the day near its flat line after Dow component UnitedHealth (UNH 121.36, +4.04) reported better than expected results.

Treasuries hover near their lows with the 10-yr yield up two basis points at 1.91%.

Economic data included Initial Claims, Housing Starts, and Philadelphia Fed Survey:

The initial claims level increased to 294,000 for the week ending April 11 from an upwardly revised 282,000 (from 281,000) while the Briefing.com consensus expected a decline to 280,000
Despite the increase, the four-week moving average was virtually unchanged at 283,000, a level last seen in 2000
Continuing claims fell to 2.268 million from an upwardly revised 2.308 million (from 2.304 million) while the consensus expected an increase to 2.325 million
Housing starts increased 2.0% in March to 926,000 from an upwardly revised 908,000 (from 897,000) in February while the Briefing.com consensus expected an increase to 1.045 million
In February, housing starts dropped 15.3%, which was blamed on adverse weather, meaning starts should have rebounded in the hardest hit areas of the country
The Northeast did return to January levels, as expected, but the rebound in the Midwest was poor and remained well below previous trends
Furthermore, starts in the unaffected West (-19.3%) and South (-3.5%) fell to levels not seen since the first half of 2014, suggesting economic reasons and not weather bear responsibility for the lackluster start to the year
The Philadelphia Fed's Business Outlook Survey increased to 7.5 in April from 5.0 in March while the Briefing.com consensus expected an increase to 7.2

12:25 pm: [BRIEFING.COM] Not much change in the market with the S&P 500 (-0.1%) drifting right below its flat line.

The energy sector was down near 1.0% at the start, but the group has narrowed its decline to just 0.1% in a move that coincided with an uptick in the price of crude. WTI crude remains lower by 0.5% at $56.11/bbl after climbing off its low in the $55.00/bbl area.

Elsewhere, the utilities sector (-1.0%) is the only group with a loss larger than 0.3%, but it is worth noting the countercyclical sector represents just 3.0% of the entire market.

12:00 pm: [BRIEFING.COM] Equity indices continue holding slim losses while three sectors hover in the green.

The three advancers include two cyclical groups-consumer discretionary (+0.2%) and financials (+0.01%)-and one countercyclical sector-consumer staples (+0.4%). The staples sector has rallied behind Philip Morris (PM 84.26, +6.13) with the tobacco stock up 7.8% after beating estimates and raising its earnings guidance. Similarly, the other two outperformers have been underpinned by companies that reported their earnings since yesterday's closing bell.

The consumer discretionary sector has been boosted by a 14.8% surge in Netflix (NFLX 545.38, +69.92) while financials have been received support from Citigroup (C 54.03, +0.82).

11:25 am: [BRIEFING.COM] Recent action saw the major averages climb into the neighborhood of their flat lines.

The stock market spent the first hour of action near its low, but individual sectors have been able to rebound, leaving the energy sector (-0.8%) as the only cyclical group down more than 0.2%. Although energy trades well behind the broader market, the sector remains ahead of other groups for the week with a 2.3% gain. Furthermore, the sector has spiked 6.0% in April while the second-best performer of the month-materials-has gained 2.6% since the end of March.

On the corporate front, Kinder Morgan (KMI 43.75, +0.32) has gained 0.7% after boosting its quarterly dividend to $0.48/share. Also today, the company reported bottom-line results that may not compare to estimates due to a one-time charge.

10:55 am: [BRIEFING.COM] The major averages have erased more than half of their opening losses with the S&P 500 narrowing its decline to 0.1%.

Heavily-weighted consumer discretionary (+0.2%) and financial (+0.1%) sectors have contributed to the rebound while the weakest-performing cyclical sector-energy-remains lower by 0.8%. However, other cyclical groups display losses slimmer than the broader market.

The top-weighted technology sector (-0.2%) trades a bit behind the broader market due to weakness among chipmakers after SanDisk (SNDK 66.82, -4.31) missed expectations and Taiwan Semiconductor (TSM 23.15, -0.36) lowered its guidance. The two names hold respective losses of 6.0% and 1.5% while the PHLX Semiconductor Index trades down 0.5%.

10:35 am: [BRIEFING.COM]

Crude oil futures slid lower in overnight trading, ahead of the OPEC report which clearly had some bearish points in it.
Crude oil is currently trading down -1.8% at $55.30/barrel
The dollar index rose overnight ahead of and among global central bank Spring meetings. After seeing moderate selling pressure this am, the index currently stands at 98.12
A soft dollar and US industrial data has driven precious metals trading, which had gold and silver modestly higher in early morning trade.
At 10 am ET, gold and silver lost steam and dropped sharply to new lows for today following the Philly Fed data.
June gold is now down from yesterday's close at -0.4% to $1196.80/oz, while Silver is also modestly down -0.8% to $16.16/oz
May copper is sitting high at +2.2% to $2.77 on speculation that slowed China growth may lead to future QE.
Natural gas futures dropped sharply following bearish weekly inventory data, falling as low as $2.55/MMBtu. Nat gas futures are currently trading -1.9% to $2.56

10:00 am: [BRIEFING.COM] The S&P 500 remains lower by 0.2% with eight sectors trading in the red.

Just released, the Philadelphia Fed Survey for April rose to 7.5 from 5.0 while economists polled by Briefing.com had expected that the Survey would improve to 7.2.

9:40 am: [BRIEFING.COM] The major averages began the day in negative territory with the S&P 500 lower by 0.3%.

Seven sectors display early losses with energy (-0.7%), industrials (-0.5%), and technology (-0.3%) fueling the early weakness. The energy sector has retreated alongside crude oil, which is down 1.8% at $55.40/bbl.

On the upside, health care (+0.3%) and consumer discretionary (+0.2%) sectors trade ahead of the broader market.

Treasuries have erased their morning gains with the 10-yr yield back to 1.89%.

The Philadelphia Fed Survey for April will be reported at 10:00 ET (expected 7.2).

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -6.40. Nasdaq futures vs fair value: -10.30. The stock market is on track for a lower open as futures on the S&P 500 trade six points below fair value. Index futures retreated during overnight action after the Financial Times reported that Greek officials have approached the IMF about the possibility of rescheduling its repayments that are due in May, suggesting the country will have difficulty meeting the upcoming deadlines.

With Greece seemingly facing a cash crunch, European equities retreated while Germany's bunds rallied, dropping the benchmark yield three basis points to 0.08%.

The Greece-related developments have overshadowed a slate of better than expected earnings from the likes of Blackstone (BX 42.32, +1.30), Goldman Sachs (GS 201.75, +0.65), Netflix (NFLX 529.80, +54.34), Philip Morris (PM 82.31, +4.18), and UnitedHealth (UNH 120.50, +3.18); however, chipmakers are likely to struggle early in reaction to disappointing results from SanDisk (SNDK 65.90, -5.22) and cautious guidance from Taiwan Semiconductor (TSM 22.60, -0.91).

On the economic front, Initial Claims increased to 294,000 from 282,000 (Briefing.com consensus 280,000) while the Housing Starts report also missed expectations, showing an increase to 926,000 from 908,000 (consensus 1.045 million). Despite the disappointment, futures barely budged in reaction to the news.

Treasuries hold slim gains with the 10-yr yield down two basis points at 1.87%.

The Philadelphia Fed Survey for April will be reported at 10:00 ET (expected 7.2).

8:53 am: [BRIEFING.COM] S&P futures vs fair value: -8.70. Nasdaq futures vs fair value: -12.10. The S&P 500 futures trade nine points below fair value.

Markets in the Asia-Pacific region were mostly higher on Thursday, led by none other than China's Shanghai Composite, which reclaimed all of Wednesday's losses and then some with a 2.7% gain. That move was pinned yet again on policy stimulus speculation. Encouraging employment data out of Australia helped underpin the broader bullish bias in the region.

In economic data:
China's March Foreign Direct Investment +11.3% (prior +17.0%)
Australia's March Employment Change +37,700 (expected 15,000; prior 41,900), Unemployment Rate 6.1% (expected 6.3%; prior 6.2%), Participation Rate 64.8% (expected 64.6%; prior 64.7%), Inflation Expectations 3.4% (prior 3.2%), New Motor Vehicle Sales +0.5% month-over-month (prior +2.7%)

------

Japan's Nikkei bounced back from early losses and closed on an upswing, gaining 0.1% for the session. A strong showing from the financial (+2.3%) and energy (+4.0%) sectors helped lead the way. Individual standouts included Fukuoka Financial Group (+7.8%), Chiba Bank Ltd (+7.4%), Shizuoka Bank Ltd (+6.3%), Bank of Yokohama Ltd (+6.3%), and Sumitomo Mitsui Trust Holdings (+6.1%). Toho Co (-3.5%) and MEIJI Holdings (-3.0%) topped the list of declining issues. Out of the 225 index members 149 ended higher, 70 finished lower, and 6 were unchanged.
Hong Kong's Hang Seng increased 0.4% on the back of strength in the energy (+2.6%), consumer cyclical (+1.3%), and financial (+0.4%) sectors. Leading gainers included China Life Insurance Co (+4.1%), PetroChina (+4.0%), Galaxy Entertainment (+3.8%), CNOOC (+3.4%), and Ping An Insurance (+3.1%). Sino Land Co (-2.5%) and Wharf Holdings Ltd (-2.1%) topped the list of declining issues. Out of the 50 index members, 22 ended higher, 23 finished lower, and 5 were unchanged.
China's Shanghai Composite didn't waste any time rebounding from Wednesday's losses. It jumped 2.7% on Thursday and finished at its high for the day (and a multi-year high) as this year's buying momentum, bolstered by policy stimulus speculation, was renewed. The consumer non-cyclical (+3.9%), utilities (+3.9%), and energy (+3.7%) sectors led the way in a broad-based advance. The Shanghai Composite is up 29.7% year-to-date.

Major European indices trade lower across the board with Germany's DAX (-1.7%) leading the retreat. European markets have retreated alongside U.S. futures after the Financial Times reported that Greek officials have approached the IMF about the possibility of rescheduling its repayments that are due in May, suggesting the country will have difficulty meeting the upcoming deadlines. The news gave a boost to German debt, pressuring the 10-yr bund yield three basis points to 0.08%.

Economic data was limited:
Italy's February trade surplus expanded to EUR3.54 billion from EUR230 million (expected surplus of EUR1.21 billion)
Swiss March PPI +0.2% month-over-month (expected 0.1%; prior -1.4%); -3.4% year-over-year (consensus -3.7%; last -3.6%)

------

UK's FTSE is lower by 0.4% with about of the index trading in the red. Consumer names lag with Pearson, Diageo, and J Sainsbury down between 2.1% and 3.9%. On the upside, miners have shown strength with BHP Billiton, Fresnillo, and Randgold Resources up between 0.7% and 2.7%.
France's CAC has surrendered 0.6% amid weakness in financials. BNP Paribas, Credit Agricole, and Societe Generale display losses between 1.7% and 2.9%. Meanwhile, exporters outperform with Peugeot and Renault showing respective gains of 2.1% and 3.7%.
Germany's DAX trades down 1.7% with all but three names in the red. Deutsche Bank and Commerzbank are both down near 3.0% while Adidas outperforms with a gain of 1.1%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -12.60. The S&P 500 futures trade eight points below fair value.

The latest weekly initial jobless claims count totaled 294,000 while the Briefing.com consensus expected a reading of 280,000. Today's tally was above the revised prior week count of 282,000 (from 281,000). As for continuing claims, they fell to 2.268 million from 2.308 million.

Separately, Housing Starts rose to a seasonally adjusted annualized rate of 926,000 units in March. That was up from a revised 908,000 million units in February (from 897,000). The Briefing.com consensus expected starts to increase to 1.045 million units.

Building permits fell to a seasonally adjusted annualized rate of 1.039 million in March from a revised 1.102 million for February (from 1.092 million). The Briefing.com consensus expected permits to come in at 1.081 million.

7:53 am: [BRIEFING.COM] S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -14.30. U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures hover nine points below fair value after sliding throughout the night. The overnight retreat occurred after the Financial Times reported that Greek officials have approached the IMF about the possibility of rescheduling its repayments that are due in May, suggesting the country will have difficulty meeting the upcoming deadlines.

The news boosted Treasuries, sending the 10-yr yield lower by two basis points to 1.87%. Also of note, Germany's 10-yr yield has dropped four basis points to 0.07%.

Meanwhile, the Dollar Index (97.96, -0.36) is on track for its third consecutive decline as the greenback gives way to the euro (+0.5%) and the British pound (+0.6%).

Weekly Initial Claims (Briefing.com consensus 280K) and March Housing Starts (consensus 1.045 million) will be released at 8:30 ET while the Philadelphia Fed Survey for April will be reported at 10:00 ET (expected 7.2).

In U.S. corporate news of note:

Blackstone Group (BX 42.56, +1.54): +3.8% after beating earnings and revenue estimates.
Goldman Sachs (GS 203.24, +2.14): +0.9% in reaction to better than expected results and a quarterly dividend boost to $0.65/share.
Netflix (NFLX 534.10, +58.64): +12.3% after beating bottom-line estimates.
Philip Morris (PM 81.75, +3.62): +4.6% after beating estimates and raising its earnings guidance.
SanDisk (SNDK 65.45, -5.67): -8.0% after missing earnings expectations and guiding below consensus.
Taiwan Semiconductor (TSM 22.51, -1.00): -4.3% following its bottom-line beat and cautious Q2 revenue guidance.
UnitedHealth (UNH 120.40, +3.08): +2.6% in reaction to better than expected results and upbeat guidance.

Reviewing overnight developments:

Asian markets ended higher. Japan's Nikkei +0.1%, Hong Kong's Hang Seng +0.4%, and China's Shanghai Composite +2.7%.
In economic data:
China's March Foreign Direct Investment +11.3% (prior +17.0%)
Australia's March Employment Change +37,700 (expected 15,000; prior 41,900), Unemployment Rate 6.1% (expected 6.3%; prior 6.2%), Participation Rate 64.8% (expected 64.6%; prior 64.7%), Inflation Expectations 3.4% (prior 3.2%), New Motor Vehicle Sales +0.5% month-over-month (prior +2.7%)
In news:
China's power consumption has declined for the second consecutive month, falling 2.2% year-over-year
Major European indices trade lower across the board. UK's FTSE -0.3%, France's CAC -0.4%, and Germany's DAX -1.4%. Elsewhere, Italy's MIB -0.9% and Spain's IBEX -1.4%.
Economic data was limited:
Italy's February trade surplus expanded to EUR3.54 billion from EUR230 million (expected surplus of EUR1.21 billion)
Swiss March PPI +0.2% month-over-month (expected 0.1%; prior -1.4%); -3.4% year-over-year (consensus -3.7%; last -3.6%)
Among news of note:
European markets have been pressured by news that Greece has sought to reschedule its debt payments to the IMF

5:55 am: [BRIEFING.COM] S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: +4.30.

5:55 am: [BRIEFING.COM] Nikkei...19885.77...+16.00...+0.10%. Hang Seng...27739.71...+120.90...+0.40%.

5:55 am: [BRIEFING.COM] FTSE...7088.7...-8.10...-0.10%. DAX...12145.98...-85.40...-0.70%.

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 2 guests


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