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 Post subject: April 20th Monday Trade Results - No Trades
PostPosted: Tue Apr 21, 2015 3:32 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

Quote:
No trades today due to needing to rest and relax because of a bad chest/nasal congestion...bad cough.

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 @ $0.00 dollars or +0.00 points, Gold GC ($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 @ $0.00 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=2055

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


4:10 pm: [BRIEFING.COM] The stock market began the week on an upbeat note with the S&P 500 (+0.9%) erasing the bulk of its decline from Friday. The benchmark index reclaimed its 50-day moving average (2,086) at the start and spent the remainder of the day near its early high while the Dow Jones Industrial Average (+1.2%) and Nasdaq Composite (+1.3%) outperformed.

Global equity markets enjoyed a strong start to the week after the People's Bank of China lowered the reserve requirement ratio for all banks to 18.5% from 19.5%. The 100-basis point cut was the largest such move since November 2008 and was implemented in hopes of avoiding a slowdown in China's economic growth.

The easing news from China helped markets in Europe register broad gains with investors overlooking the latest Greece-related developments. Specifically, the Greek government has requested local governments to transfer their cash balances to the Bank of Greece as the troubled sovereign continues scrambling for funds ahead of the next IMF payment deadline. That being said, the euro slid about 0.7% to 1.0735 against the dollar while the Dollar Index (97.93, +0.41) advanced 0.4%.

All ten sectors registered solid gains with five groups adding more than 1.0%. The top-weighted technology sector (+1.8%) ended in the lead after climbing throughout the session with large cap components fueling the move. To that point, Apple (AAPL 127.60, +2.85), Google (GOOGL 544.53, +11.79), Facebook (FB 83.09, +2.31), and Microsoft (MSFT 42.90, +1.28) rallied between 2.2% and 3.1% while Dow component IBM (IBM 166.16, +5.49) jumped 3.4% ahead of its earnings report.

Speaking of earnings, investors received just a small batch of reports this morning, but the floodgates will open as the week continues. The consumer discretionary sector (+1.1%) ended among the leaders with an assist from Hasbro (HAS 74.16, +8.27), which surged 12.6% in reaction to better than expected earnings and revenue.

Elsewhere, the industrial sector (+1.1%) also displayed relative strength with transport stocks doing some heavy lifting. The Dow Jones Transportation Average spiked 1.7% with all 20 components ending in the green. Railroads stood out with CSX (CSX 34.89, +1.59) soaring 4.8% while Kansas City Southern (KSU 107.37, +2.88) jumped 2.8% ahead of tomorrow's earnings report.

Another cyclical sector-financials (+0.5%)-could not catch up to the broader market even though Morgan Stanley (MS 36.96, +0.21) reported better than expected results. Shares of MS climbed 0.6% while other major financials posted comparable gains.

Treasuries spent the day in a slow retreat from their overnight highs with the 10-yr yield rising two basis points to 1.88%.

Today's participation was on the light side with fewer than 670 million shares changing hands at the NYSE floor.

Investors did not receive any economic data today and tomorrow's session will also be free of noteworthy releases.

Nasdaq Composite +5.5% YTD
Russell 2000 +5.0% YTD
S&P 500 +2.0% YTD
Dow Jones Industrial Average +1.2% YTD

3:35 pm: [BRIEFING.COM]

Strength in the dollar index continued to help weigh on commodities today
Select commodities like oil traded more independently compared to showing the typical inverse correlation
June crude oil ultimately ended today's trading session $0.53 higher at $57.85/barrel. May nat gas lost $0.09 to $2.54/MMBtu
Metals continued to feel pressure from strength in the dollar today
June gold ended $9.60 lower at $1193.50/oz, while May silver fell $0.33 to $15.89/oz
May copper fell $0.05 to $2.73/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.9% with one hour remaining in the Monday session.

The benchmark index hit its session high 90 minutes into the trading day and has held near that level since. To that point, the S&P 500 has traded within a four-point range since 11:00 ET.

The utilities sector (+1.5%) held the lead in the early going, but the countercyclical group has since slipped behind the technology sector (+1.8%). Looking past the two leaders, industrials (+1.2%) and consumer discretionary (+1.1%) also sport gains of more than 1.0% apiece.

Elsewhere, Treasuries sit on their lows with the 10-yr yield higher by three basis points at 1.90%.

2:25 pm: [BRIEFING.COM] The major averages remain near their session highs.

This week's main economic focus is on new and existing home sales. Existing home sales increased 1.2% in February to 4.88 mln SAAR from 4.82 mln SAAR in January. The Briefing.com Consensus expects existing home sales increased to 5.05 mln SAAR in March.

The underlying fundamentals point to another gain in March. The Mortgage Bankers Associations' Purchasing Index increased 4.8% in March. Meanwhile, the latest pending home sales index increased 3.1%.

New home sales increased 7.8% in February to 538,000 from 500,000 in January. The Briefing.com Consensus expects new home sales fell to 520,000 in March.

In 2013 and 2014, home sales were relatively flat at 435,000 with very little volatility. So far in 2015, sales have broken out of their previous trend and have moved over 500,000.

1:55 pm: [BRIEFING.COM] Quiet afternoon action continues with the S&P 500 trading higher by 0.9%.

The benchmark index ended last week below its 50-day moving average (2,086), but thanks to today's broad advance, the index has erased the bulk of its decline from Friday and now hovers just ten points below its April high that was notched on April 15.

Elsewhere, the Dollar Index (97.97, +0.45) has returned into the neighborhood of its session high with the greenback showing some recent strength against the euro. Currently, the single currency hovers near 1.0730 after hitting an intraday high at 1.0768.

1:35 pm: [BRIEFING.COM] The major U.S. indices continue to trade in a very tight range, holding their sizable gains to start the week.

In equities, General Electric (GE 27.24, -0.01) saw a slight uptick in volume not long ago following a WSJ report that the industrial giant is near a deal to sell all or parts of its commercial lending arm. This story comes just over a week after the company announced it would dispose of its real estate portfolio for ~$26.5 bln in an effort to focus more heavily on its industrial unit. Elsewhere, cyber security names are outperforming across the board following strong results from Check Point Software (CHKP 86.04, +1.29) and also following news from Raytheon (RTN 107.60, -0.12) that it will acquire privately-held cyber-security firm Websense for $1.9 bln. On the heels of both headlines, FireEye (FEYE 42.60, +1.76), Cyberark Software (CYBR 62.28, +1.58) and Palo Alto Networks (PANW 146.56, +4.06) are enjoying strong gains this afternoon

12:55 pm: [BRIEFING.COM] The major averages hover near their highs at midday with the Dow Jones Industrial Average (+1.3%) trading ahead of the S&P 500 (+1.0%).

Global equity markets have begun the new trading week on an upbeat note after the People's Bank of China lowered the reserve requirement ratio to 18.5% from 19.5%. The 100-basis point cut was the largest such move since November 2008 and was implemented in hopes of avoiding a slowdown in economic growth.

The news out of China helped European equities register solid gains while U.S. stocks have erased their losses from Friday. All ten sectors sport midday gains with the countercyclical utilities space (+1.8%) in the lead.

Utilities notwithstanding, other countercyclical groups like consumer staples (+0.6%), health care (+0.6%), and telecom services (+0.9%) trade a bit behind the broader market.

Over on the cyclical side, the top-weighted technology sector (+1.7%) has received major support from names like Apple (AAPL 127.87, +3.12), Google (GOOGL 543.59, +10.85), and Microsoft (MSFT 42.77, +1.16) while Dow component IBM (IBM 164.08, +3.41) has climbed 2.1% ahead of this evening's quarterly report. Unlike large cap names, high-beta chipmakers have struggled to keep pace with the sector as the PHLX Semiconductor Index trades higher by 1.0%.

Similar to technology, energy (+1.1%) and industrials (+1.2%) also outperform while consumer discretionary (+0.8%) and financials (+0.7%) hover near the bottom of today's leaderboard.

Notably, the industrial sector has received a boost from transport stocks. The Dow Jones Transportation Average is higher by 1.6% amid strength in railroad stocks. CSX (CSX 34.69, +1.39) has jumped 4.1% while Kansas City Southern (KSU 107.09, +2.60) has climbed 2.5% ahead of its earnings report, scheduled for tomorrow morning.

Treasuries have recently dropped to new lows, sending the 10-yr yield higher by three basis points to 1.89%.

Investors did not receive any economic data today.

12:30 pm: [BRIEFING.COM] Equity indices remain just beneath their session highs with the Dow Jones Industrial Average (+1.3%) holding the lead thanks to gains in 29 of its 30 components.

On the flip side, American Express (AXP 77.12, -0.19) is lower by 0.3% and represents the lone decliner within the Dow. Conversely, the financial sector (+0.7%) trades behind the broader market even though most top components show gains.

Elsewhere among financials, Morgan Stanley (MS 37.20, +0.45) has climbed 1.2% after reporting better than expected earnings and revenue earlier today. With Morgan Stanley out of the way, all major financials have reported their results for Q1.

11:55 am: [BRIEFING.COM] Not much change in the market with the key indices hovering near their best levels of the day. The S&P 500 is higher by 1.0%, and the index has now erased its entire decline from Friday.

The utilities sector (+2.0%) holds the lead while heavily-weighted technology (+1.6%) and industrials (+1.2%) follow a bit behind. However, not all cyclical sectors trade ahead of the broader market as financials (+0.6%), materials (+0.6%), and consumer discretionary (+0.9%) trail the S&P 500.

Elsewhere, crude oil remains higher by 0.8% at $57.80/bbl after slipping from its session high near $58.60/bbl.

11:30 am: [BRIEFING.COM] The major averages have moved up to new highs with the Dow extending its gain to 1.4%. Meanwhile, the Nasdaq (+1.2%) and S&P 500 (+1.0%) follow not far behind.

The tech-heavy Nasdaq trades ahead of the broader market thanks to solid gains among large cap tech sector (+1.6%) components like Apple (AAPL 127.28, +2.53), Google (GOOGL 544.77, +12.03), and Microsoft (MSFT 42.51, +0.89). The three names all sport gains of 2.0% or more while most high-beta chipmakers also trade in the green with the PHLX Semiconductor Index up 1.2%.

Unlike chipmakers, high-beta biotech names trail the broader market with the iShares Nasdaq Biotechnology ETF (IBB 357.60, +1.14) higher by 0.3%.

10:55 am: [BRIEFING.COM] The stock market has spent the past hour just below its best level of the day. The S&P 500 trades higher by 0.9% while the Dow (+1.3%) remains in the lead.

The price-weighted Dow Jones has shown relative strength since the opening bell with several influential components showing solid gains. To that point, Boeing (BA 152.77, +3.17), IBM (IBM 164.53, +3.86), and Chevron (CVX 111.37, +2.26) are all up 2.0% or more. On the flip side, only two names hover in the red with General Electric (GE 27.11, -0.14) and American Express (AXP 77.00, -0.31) both down near 0.4%.

Elsewhere, Treasuries have returned to their lows with the 10-yr yield at 1.88% (+1 bp).

10:40 am: [BRIEFING.COM]

Crude oil futures sold off in early AM trading, weighed down by a strengthening dollar, continued expectations for Chinese QE and commentary by the Saudi Arabian oil minister, indicating that Saudi output would remain at its current levels.
However, the oil market remains volatile, causing a morning sell-off down to $56.40/barrel, which was quickly erased on the recent rally that put oil at another new high for today. June crude is now +2% at $58.48/barrel
The dollar index rose slightly to +0.4% at 97.86, which weighed on a number of commodities along with metals.
June gold is now-0.7% at $1194.40/oz while May silver is -2.2% to $15.87/oz. May Copper is currently down -1.4% to $2.73/lb
Natural gas futures traded sharply lower -2.9% to $2.56/MMBtu after weather forecasts continued to expect mild weather across the United States.


9:55 am: [BRIEFING.COM] Equity indices have extended their early gains with the S&P 500 now up 0.9%.

All ten sectors have built on their opening advance with the top-weighted technology sector pushing its gain to 1.3% while the leading utilities space is higher by 1.6%.

Last week, the Dollar Index fell 1.9%, but thanks to an overnight rebound, the index is higher by 0.3% today. The dollar remains higher by 0.6% against the euro, but the single currency has climbed off its low and now hovers near 1.0745.

9:40 am: [BRIEFING.COM] The major averages have climbed out of the gate with the Dow Jones Industrial Average (+1.1%) showing relative strength in the early going. For its part, the S&P 500 (+0.7%) follows a little behind with all ten sectors holding early gains while the benchmark index has overtaken its 50-day moving average (2,085).

The top-weighted technology sector (+0.9%) is among the early leaders while most other cyclical groups hold slimmer gains. The industrial sector (+0.9%) trades in-line with technology while consumer discretionary (+0.7%) and financials (+0.6%) trade a bit behind.

Elsewhere, Treasuries have returned into the red after making a brief appearance in the green. The 10-yr yield is higher by a basis point at 1.87%.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: +12.50. Nasdaq futures vs fair value: +21.10. The stock market is on track for a higher open with S&P 500 futures trading 13 points above fair value. Index futures have spent the entire night in positive territory, hitting their highs after the People's Bank of China cut its reserve requirement ratio to 18.5% from 19.5% in hopes of keeping liquidity flowing through the system.

Similar to U.S. futures, markets across Europe have rebounded from Friday's weakness with Germany's DAX (+1.6%) pacing the advance.

Domestically, the week has started on a quiet note with just a few quarterly reports, but the reporting pace will increase as week goes on. Morgan Stanley (MS 37.55, +0.80) and Halliburton (HAL 47.25, +0.36) are both on course to open higher after reporting bottom-line beats this morning.

Treasuries are little changed with the 10-yr yield at 1.87%.

8:53 am: [BRIEFING.COM] S&P futures vs fair value: +12.20. Nasdaq futures vs fair value: +22.70. The S&P 500 futures trade 12 points above fair value.

Asian-Pacific markets were mostly lower on Monday, following in the footsteps of Wall Street's weak outing on Friday and the news after Friday's close that Chinese securities regulators were implementing steps to curb speculative trading activity. Monday's headlines were dominated, however, by the news that the People's Bank of China cut the reserve requirement ratio for all banks by a larger-than-expected 100 basis points to 18.50%.

In economic data:
Japan's Tertiary Industry Activity Index +0.3% month-over-month (expected -0.6%; prior 0.7%) while April Reuters Tankan Index fell to 12 from 16
South Korea's March PPI -0.1% month-over-month (prior 0.1%); -3.7% year-over-year (consensus -1.4%; last -3.6%)
New Zealand's Q1 CPI -0.3% month-over-month (consensus -0.2%; prior -0.2%); +0.1% year-over-year (expected 0.2%; last 0.8%)

------

Japan's Nikkei declined 0.1%, dragged down by a weak showing from the financial sector (-0.9%). Sumco Corp (-3.0%), Mitsubishi Estate Co (-2.8%), Takashimaya Co (-2.7%), TOTO Ltd (-2.6%), and Tokyu Fudosan Holdings (-2.6%) topped the list of individual decliners. Okuma Corp (+5.1%) paced the winners. Out of the 225 index members, 63 ended higher, 158 finished lower, and 4 were unchanged.
Hong Kong's Hang Seng declined 2.0%, feeling the pinch of Friday's decision by Chinese regulators to curb speculative trading activity and the weakness on Wall Street. Losses were led by the energy (-3.9%), basic materials (-3.0%), consumer cyclical (-2.4%), and financial (-2.2%) sectors. Kunlun Energy Co (-7.1%), PetroChina (-6.1%), and Lenovo Group (4.4%) led declining issues. China Unicom Hong Kong (+2.3%) was the only issue to gain more than 1.0%. Out of the 50 index members, 5 ended higher, 42 finished lower, and 3 were unchanged.
China's Shanghai Composite declined 1.6% in a roller-coaster session which featured the news that the People's Bank of China slashed its reserve requirement ratio by a larger-than-expected 100 basis points to 18.50%. That news followed on the heels of Friday's announcement that Chinese securities regulators were taking steps to clamp down on speculative trading activity. The technology (-4.6%), financial (-4.3%), and consumer non-cyclical (-2.6%) sectors were notable pockets of weakness in the mainland market on Monday.

Major European indices trade mostly higher with Germany's DAX (+1.5%) trading well ahead of its peers. European investors are maintaining their focus on Greece with the Eurogroup meeting scheduled to take place in Riga on Friday.

Economic data was limited:
Germany's March PPI +0.1% month-over-month (expected 0.2%; prior 0.1%); -1.7% year-over-year (consensus -1.6%; last -2.1%)
Spain's Trade Deficit narrowed to EUR2.04 billion from EUR2.60 billion (expected deficit of EUR2.00 billion)

------

France's CAC trades higher by 0.4% with consumer names in the lead. Hotel operators Accor and Essilor International lead with gains close to 1.5% apiece. Industrials and utilities lag with Electricite de France down 1.1% and Veolia Environnement off 0.6%.
UK's FTSE trades up 0.5% amid strength in mining names. Anglo American, Antofagasta, BHP Billiton, and Rio Tinto are up between 1.2% and 2.7%. Select consumer names underperform with EasyJet, G4S, and Persimmon down between 0.3% and 1.2%.
Germany's DAX has spiked 1.5% with all but two names trading in the green. Growth-sensitive BASF, ThyssenKrupp, and Deutsche Bank are up between 1.3% and 2.8% while Volkswagen lags, down 1.4%.
Spain's IBEX is lower by 0.4% with several banks under pressure. Bankinter, BBVA, and Santander are down between 0.5% and 1.2%.

8:26 am: [BRIEFING.COM] S&P futures vs fair value: +11.60. Nasdaq futures vs fair value: +20.10. U.S. equity futures continue holding pre-market gains amid upbeat action overseas. Meanwhile, the Dollar Index (97.99, +0.47) has ticked up to a fresh high for the day not long ago. The Index is now up 0.5% for the day with the greenback adding 0.8% against the euro (1.0723).

The bulk of the early dollar strength has come versus the euro while the pound (-0.3%) and yen (-0.1%) display slimmer losses.

On a related note, U.S. Treasuries have moved to new lows in recent action, pushing the 10-yr yield up to 1.88% (+2 bps).

7:54 am: [BRIEFING.COM] S&P futures vs fair value: +10.40. Nasdaq futures vs fair value: +18.40. U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover ten points above fair value after hitting an overnight high around the start of the European session.

Last week was relatively quiet on the economic data front and this week will be no different with the first data point of note scheduled for Wednesday (March Existing Home Sales).

The Dollar Index (97.96, +0.45) retreated last week, but a modest rebound has the Index trading higher by 0.5% this morning.

Treasuries hold slim losses with the 10-yr yield higher by a basis point at 1.87%.

In U.S. corporate news of note:

Colgate-Palmolive (CL 68.50, -0.78): -1.1% after Goldman Sachs downgraded the stock to 'Sell' from 'Neutral.'
Halliburton (HAL 46.80, -0.09): -0.2% after beating bottom-line estimates. The stock was downgraded to 'Underperform' at Credit Agricole following earnings.
Hasbro (HAS 72.00, +6.11): +9.3% following its above-consensus results.
Morgan Stanley (MS 37.62, +0.87): +2.4% after beating earnings and revenue estimates.

Reviewing overnight developments:

Asian markets ended lower. Japan's Nikkei -0.1%, China's Shanghai Composite -1.6%, and Hong Kong's Hang Seng -2.0%
In economic data:
Japan's Tertiary Industry Activity Index +0.3% month-over-month (expected -0.6%; prior 0.7%) while April Reuters Tankan Index fell to 12 from 16
South Korea's March PPI -0.1% month-over-month (prior 0.1%); -3.7% year-over-year (consensus -1.4%; last -3.6%)
New Zealand's Q1 CPI -0.3% month-over-month (consensus -0.2%; prior -0.2%); +0.1% year-over-year (expected 0.2%; last 0.8%)
In news:
The People's Bank of China has cut its reserve requirement ratio to 18.5% from 19.5% in an attempt to avoid a slowdown in economic growth. This was the largest cut since November 2008.

Major European indices trade mostly higher. France's CAC +0.4%, UK's FTSE +0.7%, and Germany's DAX +1.5%. Elsewhere, Italy's MIB +0.3% and Spain's IBEX -0.4%
Economic data was limited:
Germany's March PPI +0.1% month-over-month (expected 0.2%; prior 0.1%); -1.7% year-over-year (consensus -1.6%; last -2.1%)
Spain's Trade Deficit narrowed to EUR2.04 billion from EUR2.60 billion (expected deficit of EUR2.00 billion)
Among news of note:
European investors are maintaining their focus on Greece with the Eurogroup meeting scheduled to take place in Riga on Friday.

5:54 am: [BRIEFING.COM] S&P futures vs fair value: +13.00. Nasdaq futures vs fair value: +23.50.

5:54 am: [BRIEFING.COM] Nikkei...19634.49...-18.40...-0.10%. Hang Seng...27094.93...-558.20...-2.00%.

5:54 am: [BRIEFING.COM] FTSE...7038.50...+43.90...+0.60%. DAX...11819.56...+130.90...+1.10%.

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
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