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 Post subject: April 28th Tuesday Trade Results - Profit $1572.50
PostPosted: Wed Apr 29, 2015 4:03 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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Attachment:
042815-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1572.50.png
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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 @ $60.00 dollars or +0.60 points, Emini ES ($ES_F) futures @ $1,512.50 dollars or +30.25 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $1,572.50 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=2061

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 stock market ended the Tuesday session on a mixed note with the Dow (+0.4%) and S&P 500 (+0.3%) registering modest gains while the Nasdaq (-0.1%) settled in the red.

Equity indices spent the bulk of the trading day near their flat lines, save for a morning retreat, which was retraced in short order. The brief pullback occurred after a disappointing Consumer Confidence report and unfolded amid reports from Al Arabiya indicating that a U.S. cargo vessel was seized by Iran. The U.S. Navy promptly refuted the report with subsequent stories revealing that the cargo ship came from the Marshall Islands, which are under U.S. protectorate. Furthermore, the ship was released a couple hours after the initial stoppage.

Although the major averages returned to their flat lines in short order, extending the rebound proved challenging even though nine sectors finished in the green.

The top-weighted technology sector (+0.2%) was limited to a modest gain with its largest component-Apple (AAPL 130.56, -2.09)-falling 1.6% despite beating earnings and revenue estimates; however, the stock entered the session with a 6.3% gain since April 17, suggesting a strong report was already priced in.

Apple's pullback prevented the Nasdaq Composite from ending in the green while biotechnology also contributed to the underperformance of the index. The iShares Nasdaq Biotechnology ETF (IBB 344.50, -4.05) slipped below its 50-day moving average, losing 1.2% to extend this week's decline to 5.3%. However, the health care sector (+0.4%) ended in the green thanks to better than expected earnings from Merck (MRK 59.98, +2.88). Similarly, Pfizer (PFE 34.48, -0.11) reported above-consensus results, but cautious guidance overshadowed its earnings beat.

Staying on the earnings theme, Twitter (TWTR 42.27, -9.39) was scheduled to report after the close, but the company jumped the gun and released its results during the final hour of the session. The company beat bottom-line estimates, but its revenue and revenue guidance missed expectations. The stock was halted for a brief time, but widened its loss upon resumption, settling lower by 18.2%.

Elsewhere, the consumer discretionary sector (-0.3%) was the only group that couldn't climb out of the red. Many apparel retailers registered losses with Coach (COH 39.65, -2.68) falling 6.3% after disappointing revenue and light same store sales overshadowed a one-cent beat. On the flip side, homebuilders held up well following better than expected earnings from M/I Homes (MHO 23.78, +0.67). Shares of MHO gained 2.9% while iShares Dow Jones US Home Construction ETF (ITB 26.80, +0.14) advanced 0.5%.

Homebuilder stocks were able to advance even though Treasuries spent the day in a steady retreat, sending the 10-yr yield higher by six basis points to 1.99%.

Today's participation was in-line with recent totals as more than 760 million shares changed hands at the NYSE floor.

Economic data was limited to Consumer Confidence and Case-Shiller 20-City Index:

The Case-Shiller 20-city Home Price Index for February rose 5.0% against a 4.7% increase expected by the Briefing.com consensus
The Conference Board's Consumer Confidence Index declined to 95.2 in April from an upwardly revised 101.4 (from 101.3) while the Briefing.com consensus expected an increase to 102.2
The Expectations Index fell to 87.5 in April from 96.0 in March, which was the lowest level since September 2014
The Present Conditions Index dropped to 106.8 in April from 109.5 in March

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while the advance reading of Q1 GDP will be reported at 8:30 ET (Briefing.com consensus 1.0%). The Pending Home Sales report for March will cross at 10:00 ET (consensus 1.2%) while the latest policy directive from the FOMC will be released at 14:00 ET.

Nasdaq Composite +6.7% YTD
Russell 2000 +4.5% YTD
S&P 500 +2.7% YTD
Dow Jones Industrial Average +1.6% YTD

3:35 pm: [BRIEFING.COM]

Gold and silver futures held today's gains while the dollar index remained in the red
June gold closed today's pit session +$11.30 at $1213.80/oz, while May silver rose $0.25 to $16.61/oz
May copper rose $0.01 to $2.78/lb
WTI crude oil erased its gains and fell back below $57/barrel, ending the session $0.06 higher at $57.05/barrel
June nat gas rose $0.02 to $2.53/MMbtu

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.2% with one hour remaining in the session.

Seven sectors hold gains going into the last hour while the consumer discretionary group (-0.3%) sits at the bottom of the leaderboard. Apparel retailers continue showing widespread weakness with Coach (COH 39.32, -3.01) widening its decline to 7.1%.

On the upside, the telecom services sector (+1.4%) holds the lead while the remaining groups display gains between 0.1% (materials) and 0.4% (energy, financials, and utilities).

Elsewhere, Treasuries remain near their lowest levels of the day with the 10-yr yield higher by five basis points at 1.97%.

2:25 pm: [BRIEFING.COM] Quiet action continues with the S&P 500 trading higher by 0.1% while the Nasdaq Composite has returned beneath its flat line.

Notably, the tech-heavy Nasdaq has dipped into negative territory alongside its largest component-Apple (AAPL 131.50, -1.15)-which now trades lower by 0.9%. Similarly, the biotech group has showed renewed weakness in recent going with the iShares Nasdaq Biotechnology ETF (IBB 345.46, -3.09) trading lower by 0.9%. For its part, the health care sector (+0.4%) remains ahead of the broader market.

Elsewhere, Treasuries sit just above their session lows after a daylong retreat with the 10-yr yield at 1.98% (+6 bps).

1:55 pm: [BRIEFING.COM] Equity indices continue holding modest gains.

The calendar still reads April, so that must mean another disappointing set of economic data. This time the Consumer Confidence Index failed to meet expectations.

The Conference Board's Consumer Confidence Index declined to 95.2 in April from an upwardly revised 101.4 (from 101.3) in March. The Briefing.com Consensus expected the Consumer Confidence Index to increase to 102.2.

That was the lowest confidence reading since December 2014.

The Expectations Index fell to 87.5 in April from 96.0 in March. That is the lowest level since September 2014. The Present Conditions Index dropped to 106.8 in April from 109.5 in March.

1:35 pm: [BRIEFING.COM] The major U.S. indices have extended their gains in recent trade and are currently near their session highs.

In equities, ahead of tomorrow's earnings, GrubHub (GRUB 45.46, -1.72) is underperforming after the taxi and private transportation service Uber launched its food delivery service UberEATS in New York City and Chicago. GrubHub is scheduled to report its Q1 results tomorrow morning before the open

After the close, notable earnings are expected from Express Scripts (ESRX 87.38, +0.54), U.S. Steel (X 27.02, +0.76), Twitter (TWTR 51.25, -0.41), and GoPro (GPRO 46.17, +0.98) among others.

Separately, the $35 bln 5-yr note auction was met with strong indirect demand. It saw a high yield of 1.38% on a 2.56 bid-to-cover ratio that was roughly in-line with the prior 12-auction average.

12:55 pm: [BRIEFING.COM] The stock market holds a modest midday gain with the small-cap Russell 2000 (+0.6%) trading ahead of the S&P 500 (+0.3%).

Equity indices retreated through the first 45 minutes of the session, but reversed course with help from influential sectors like technology (+0.5%), financials (+0.3%), and health care (+0.6%). Adding to the early weakness was a report from Al Arabiya indicating that a U.S. cargo vessel was seized by Iran. The U.S. Navy promptly refuted the report with subsequent stories revealing that the cargo ship came from the Marshall Islands, which is under U.S. protectorate.

Although the major averages have erased their opening losses, they have struggled to build on their slim gains. The telecom services sector (+1.4%) leads, but more notably, technology (+0.5%) trades ahead of the remaining cyclical groups. The tech sector has rallied behind some of its largest components while Apple (AAPL 132.70, +0.05) trades little changed after beating earnings/revenue estimates and guiding in-line with analyst expectations.

High-beta chipmakers have struggled to keep pace with the tech sector, evidenced by a 0.1% decline in the PHLX Semiconductor Index. Similarly, another high-beta group-biotechnology-has yet to erase its early loss. The iShares Nasdaq Biotechnology ETF (IBB 348.07, -0.48) remains lower by 0.1% as its battle with the 50-day moving average (348.22) continues. However, the health care sector (+0.6%) has been able to overcome that weakness thanks to a 5.0% gain in Merck (MRK 59.93, +2.82) in reaction to better than expected results. Another major sector component-Pfizer (PFE 34.32, -0.27)-also reported above-consensus results, but its cautious guidance has the stock trading lower by 0.8%.

Treasuries hover near their lows with the 10-yr yield higher by five basis points at 1.97%.

Economic data was limited to Consumer Confidence and Case-Shiller 20-City Index:

The Case-Shiller 20-city Home Price Index for February rose 5.0% against a 4.7% increase expected by the Briefing.com consensus
The Conference Board's Consumer Confidence Index declined to 95.2 in April from an upwardly revised 101.4 (from 101.3) while the Briefing.com consensus expected an increase to 102.2
The Expectations Index fell to 87.5 in April from 96.0 in March, which was the lowest level since September 2014
The Present Conditions Index dropped to 106.8 in April from 109.5 in March

12:30 pm: [BRIEFING.COM] Not much change in the market with the key indices defending modest gains. The S&P 500 trades higher by 0.2% with five sectors in the green.

On the flip side, five groups hold losses with four of the five decliners coming from the cyclical side. The consumer discretionary sector (-0.3%) represents the weakest performer with many apparel retailers under pressure. Shares of Coach (COH 39.28, -3.05) have fallen 7.3% after disappointing revenue and light same store sales overshadowed a one-cent beat.

Meanwhile, homebuilders have rallied across the board following upbeat results from M/I Homes (MHO 23.99, +0.88). Shares of MHO have gained 3.8% while the iShares Dow Jones US Home Construction ETF (ITB 26.83, +0.17) trades higher by 0.6%.

11:55 am: [BRIEFING.COM] Equity indices remain near their recent levels with the Dow Jones Industrial Average (+0.3%) trading just ahead of the S&P 500 (+0.2%).

The price-weighted Dow sports a modest gain with about 2/3 of its components trading in the green. Most notably, shares of Merck (MRK 59.94, +2.84) have added 5.0% while the largest index component-Goldman Sachs (GS 197.05, +0.53)-holds a slim gain.

Outside of Merck, only three Dow members are show gains larger than 1.0% with Cisco Systems (CSCO 29.20, +0.31), IBM (IBM 172.52, +1.79), and Microsoft (MSFT 49.00, +0.98) up between 1.0% and 2.1%. In turn, the three outperforms have given a boost to the technology sector (+0.4%).

11:35 am: [BRIEFING.COM] The S&P 500 has returned to its flat line while the Nasdaq Composite (-0.1%) remains in the red. Also of note, the small cap Russell 2000 (+0.5%) trades ahead of the broader market.

Heavily-weighted sectors have helped the market recover from its morning low with the three largest sectors by weight-technology (+0.1%), financials (+0.2%), and health care (+0.4%)-leading the rebound.

The health care sector has received an earnings-driven boost from Merck (MRK 60.06, +2.95) while biotechnology names continue showing relative weakness with the iShares Nasdaq Biotechnology ETF (IBB 347.30, -1.25) down 0.4%. Including today's decline, the high-beta ETF is now down 5.6% since Thursday.

10:55 am: [BRIEFING.COM] The major averages continue holding losses, but they have climbed off their lows that were reached during the past hour. The Dow (-0.2%) and S&P 500 (-0.2%) hover just beneath their flat lines while the Nasdaq (-0.3%) underperforms.

Equity indices dropped to lows after Al Arabiya reported that Iran has seized a U.S. cargo vessel, but that report has been refuted by the U.S. Navy. Treasuries moved up on the initial report, but they have returned near their lows with the 10-yr yield up three basis points at 1.95%.

The Nasdaq has been pressured by Apple (AAPL 131.11, -1.54), which is now down 1.2% after showing early strength. Meanwhile, biotechnology has also contributed to the relative weakness with the iShares Nasdaq Biotechnology ETF (IBB 347.15, -1.40) trading lower by 0.4%.

10:35 am: [BRIEFING.COM]

The dollar index has been climbing lower today, and just hit a new low for the day, which is helping give commodities such as metals and oil a boost today. The index currently stands at -0.6% at 96.23
Crude oil rallied sharply higher this morning, erasing modest overnight losses to +0.8% at $57.46/barrel on a soft dollar and reports that Iranian forces seized the US vessel Arabiya and escorted it to the Bandar Abbas port.
Precious metals extended gains this morning, following a quick spike higher and are at new highs for the day.
June gold is now +0.6% at $1210.60/oz and May silver is +1% at $16.55/oz
Natural gas futures have posted modest gains in early trade, but has erased all of its gains in more recent trade
Nat gas futures are now flat at $2.52/MMBtu, and May copper is trading at +0.2% at $2.77/lb

10:00 am: [BRIEFING.COM] The S&P 500 (-0.1%) has slipped to its session low.

Just released, the consumer confidence reading for April came in at 95.2, while economists polled by Briefing.com expected the survey to come in at 102.2. This followed the prior month's revised reading of 101.4 (from 101.3).

9:45 am: [BRIEFING.COM] The major averages have spent the opening minutes of the session near their flat lines with the Dow (+0.2%) trading a little ahead of the S&P 500 (unch).

Only four sectors display early gains with health care (+0.3%) rebounding from yesterday's loss. In addition, telecom services (+0.3%), energy (+0.1%), and financials (+0.1%) also hold slim gains.

On the downside, the utilities sector (-0.5%) is the weakest performer, but the group represents just 3.0% of the entire market.

The Consumer Confidence report for April will cross the wires at 10:00 ET (expected 102.2).

9:13 am: [BRIEFING.COM] S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: +5.20. The stock market is on track for a flat open as futures on the S&P 500 trade within a point of fair value.

Yesterday's session did not feature any earnings of note, but the largest company by market cap-Apple (AAPL 134.38, +1.73)-reported its results after the closing bell. Apple beat earnings and revenue estimates while its guidance was in-line with analyst estimates. As a result, the stock is higher by 1.3% in pre-market action.

Similar to Apple, Merck (MRK 60.00, +2.90) and Pfizer (PFE 34.70, +0.11) are on track for early gains in reaction to better than expected results while apparel retailers are likely to show early weakness following disappointing results from Coach (COH 39.80, -2.53).

Treasuries hold modest losses with the 10-yr yield higher by three basis points at 1.95%.

The Consumer Confidence report for April will cross the wires at 10:00 ET (expected 102.2).

9:00 am: [BRIEFING.COM] The S&P 500 futures trade a point below fair value.

The Case-Shiller 20-city Home Price Index for February rose 5.0% against a 4.7% increase expected by the Briefing.com consensus. This followed the previous month's revised increase of 4.6% (from 4.5%).

8:25 am: [BRIEFING.COM] S&P futures vs fair value: -3.70. Nasdaq futures vs fair value: +1.60. The S&P 500 futures trade four points below fair value.

Markets in the Asia-Pacific region finished mostly lower on Tuesday, including China's Shanghai Composite (-1.1%), which succumbed to some profit-taking efforts. Japan's Nikkei (+0.4%) bucked the regional trend and closed higher despite a weaker-than-expected retail sales report for March.

In economic data:
Japan's March Retail Sales -9.7% year-over-year (expected -7.3%; prior -1.7%)
Hong Kong's March Trade Balance deficit widened to -HKD46.2 billion from -HKD35.90 (expected -HKD37.5 billion) as Exports -1.8% month-over-month (expected +2.5%; prior +7.2%) and Imports -2.7% month-over-month (expected -0.8%; prior -0.9%)
Australia's CB Leading Index +0.5% month-over-month (last 0.4%)

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Japan's Nikkei increased 0.4% and climbed back above the 20,000 level despite a weaker-than-expected retail sales report. The advance was led by the energy (+2.0%), consumer cyclical (+1.5%), and financial (+1.0%) sectors. Individual standouts included JTEKT Corp (+11.9%), Denso Corp (+4.5%), and Toyo Seikan Group Holdings (+4.0%). Leading laggards included Tokyo Electron (-14.8%), Kyocera (-6.5%), and Hitachi Construction Machinery (-6.1%). Out of the 225 index members, 150 ended higher, 68 finished lower, and 7 were unchanged.
Hong Kong's Hang Seng was pretty much flat for the day, mirroring a flat showing from its influential financial sector. Leading gainers included CITIC (+5.8%), Hengan Intl (+2.1%), and China Construction Bank (+1.8%). The worst-performing stocks were China Petroleum & Chemical Corp (-4.9%), PetroChina (-4.7%), and Galaxy Entertainment (-1.7%). Out of the 50 index members, 19 ended higher 24 finished lower, and 7 were unchanged.
China's Shanghai Composite declined 1.1% on profit taking that followed a positive morning session. Sector losses were broad-based in the Chinese market with the energy (-4.9%) and consumer cyclical (-3.9%) sectors among the hardest-hit areas.

Major European indices trade lower across the board with France's CAC (-1.6%) showing the largest decline.

Economic data was limited:
UK's Q1 GDP +0.3% quarter-over-quarter (consensus 0.5%; prior 0.6%); +2.4% year-over-year (expected 2.6%; last 3.0%). Separately, BBA Mortgage Approvals 38,800 (consensus 37,900; last 37,500)
French Consumer Confidence ticked up to 94 from 93, as expected

------

UK's FTSE trades lower by 1.1% with better than expected earnings from BP masking some of the weakness resulting from a disappointing GDP report. The energy giant has added 0.5% while miners Anglo American, BHP Billiton, and Fresnillo show gains between 0.6% and 1.2%. On the downside, health care names lag with AstraZeneca and Shire down 3.2% and 2.0%, respectively.
Germany's DAX has given up 1.3% with more than 2/3 of the index in negative territory. Financials Commerzbank, Deutsche Bank, and Munich Re are down between 1.8% and 3.4%. On the upside, Daimler has gained 1.1% after reporting better than expected results.
In France, the CAC trades down 1.6% with all but three names in the red. Bouygues, Cap Gemini, and Orange lead the retreat with losses between 3.6% and 4.5% while Total outperforms, trading higher by 1.8% in reaction to better than expected results.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: -5.20. Nasdaq futures vs fair value: +0.90. U.S. equity futures trade near their pre-market lows after spending the entire night in negative territory. The S&P 500 futures hover five points below fair value.

Index futures have followed global markets lower in reaction to a couple disappointments. First, the People's Bank of China chief economist pushed back against media reports suggesting the PBoC is readying a quantitative easing program, which sent the Shanghai Composite lower by 1.1% after a 3.0% surge on Monday.

Over in Europe, UK's Q1 GDP missed expectations, increasing 0.3% quarter-over-quarter (consensus 0.5%) while the year-over-year reading climbed 2.4% (expected 2.6%).

Domestically, the Case-Shiller 20-city Index for February will be reported at 9:00 ET (Briefing.com consensus 4.7%) while the April Consumer Confidence report will cross the wires at 10:00 ET (expected 102.2).

Treasuries are little changed with the 10-yr yield at 1.92%.

In U.S. corporate news of note:

Apple (AAPL 135.95, +3.30): +2.5% after beating earnings/revenue estimates and guiding in-line.
Barracuda Networks (CUDA 41.00, -2.43): -5.6% despite beating by a penny.
BP (BP 43.97, +0.93): +2.2% in reaction to better than expected results.
CH Robinson (CHRW 67.00, -1.94): -2.8% in reaction to a one-cent miss on light revenue.
Coach (COH 39.00, -3.33): -7.9% after disappointing revenue and light same store sales overshadowed a one-cent beat.
Ford (F 15.60, -0.30): -1.9% after missing estimates and reaffirming its profit guidance for the fiscal year.
Honda Motor (HMC 36.23, +0.01): flat after missing earnings/revenue estimates and issuing mixed guidance.
Merck (MRK 59.66, +2.56): +4.5% in reaction to better than expected results.
Pfizer (PFE 34.95, +0.36): +1.0% after above-consensus earnings and revenue overshadowed cautious guidance.
Rent-A-Center (RCII 29.40, +2.36): +8.7% after beating expectations.
Yandex (YNDX 20.14, -0.13): -0.6% despite beating bottom-line estimates.

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite -1.1%, Japan's Nikkei +0.4%, and Hong Kong's Hang Seng ended flat
In economic data:
Japan's March Retail Sales -9.7% year-over-year (expected -7.3%; prior -1.7%)
Hong Kong's March Trade Balance deficit widened to -HKD46.2 billion from -HKD35.90 (expected -HKD37.5 billion) as Exports -1.8% month-over-month (expected +2.5%; prior +7.2%) and Imports -2.7% month-over-month (expected -0.8%; prior -0.9%)
Australia's CB Leading Index +0.5% month-over-month (last 0.4%)
In news:
Regulators in China pushed back against speculation surrounding the potential deployment of a QE program. Notably, People's Bank of China deputy governor said that current PBoC operations are capable of providing needed liquidity and that cuts to the reserve requirement ratio are possible.

Major European indices trade lower across the board. UK's FTSE -1.0%, Germany's DAX -1.3%, and France's CAC -1.6%. Elsewhere, Spain's IBEX -0.3% and Italy's MIB -0.6%
Economic data was limited:
UK's Q1 GDP +0.3% quarter-over-quarter (consensus 0.5%; prior 0.6%); +2.4% year-over-year (expected 2.6%; last 3.0%). Separately, BBA Mortgage Approvals 38,800 (consensus 37,900; last 37,500)
French Consumer Confidence ticked up to 94 from 93, as expected
Among news of note:
UK's disappointing GDP growth weighed on the FTSE, but better than expected results from BP have offset some of the weakness in the FTSE.

5:52 am: [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: +1.30.

5:52 am: [BRIEFING.COM] Nikkei...20058.95...+75.60...+0.40%. Hang Seng...28442.75...+9.20...+0.00%.

5:52 am: [BRIEFING.COM] FTSE...7046.04...-57.90...-0.80%. DAX...11949.60...-90.40...-0.80%.

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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