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 Post subject: May 7th Thursday Trade Results - Profit $1125.00
PostPosted: Fri May 08, 2015 12:39 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $1,125.00 dollars or +22.50 points, Light Crude Oil CL ($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 @ $1,125.00 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=143&t=2070

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=263&t=2757 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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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 snapped its two-day skid with a Thursday advance that lifted the S&P 500 (+0.4%) into the neighborhood of its 50-day moving average (2,089). The benchmark index narrowed its week-to-date loss to 1.0% while the Nasdaq Composite (+0.5%) outperformed, but remains down 1.2% for the week.

Equity indices vacillated near their flat lines during the opening hour and followed their shaky start with a broad-based rally. However, the cash market masked the fact that S&P 500 futures were down more than 15 points overnight. That weakness coincided with selling in the Treasury market, which abated once the benchmark 10-yr yield kissed the 2.30% level. To be fair, the overnight selloff in Treasuries did not take place in a vacuum as Germany's 10-yr bund endured a sharp plunge that briefly sent its yield as high as 0.79%. German bunds were able to retrace the entire move, returning to 0.59% while U.S. Treasuries did that and then some. The 10-yr note rallied throughout the session, dropping its yield six basis points to 2.18% and back below the 200-day moving average (2.19%).

In all likelihood, the Treasury market will be in focus once again tomorrow once the Nonfarm Payrolls report for April crosses the wires at 8:30 ET (Briefing.com consensus 218K).

Nine sectors finished the day in positive territory with heavily-weighted sectors like technology (+0.7%), financials (+0.7%), industrials (+0.6%), and health care (+0.5%) driving the advance.

The top-weighted technology sector gathered strength throughout the session while high-beta chipmakers outperformed from the get-go. The PHLX Semiconductor Index advanced 1.1% thanks to gains in about 90% of its components. SunEdison (SUNE 27.96, +3.13) and Atmel (ATML 7.96, +0.42) led the charge after reporting their quarterly results. Atmel jumped 5.6% after reporting a bottom line beat and issuing cautious guidance while SunEdison surged 12.6% following a loss that was not comparable to analyst estimates.

Staying in the technology space, Yelp (YELP 47.01, +8.79) spiked 23.0% after the Wall Street Journal reported the company is looking into a potential sale. The intraday spike helped the stock reclaim the bulk of its earnings-driven loss from late April and return above its 50-day moving average (46.80).

Elsewhere, the financial sector was underpinned by large components like Citigroup (C 53.31, +0.54) and JPMorgan Chase (JPM 64.50, +0.58) with their strength lifting the sector back into the green for the week. The growth-sensitive group will enter the Friday session with a week-to-date gain of 0.2%.

Over on the countercyclical side, the health care sector (+0.5%) finished ahead of its defensively-oriented peers thanks to strength in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 344.11, +3.39) advanced 1.0%, but could not climb above its opening high.

On the downside, the energy sector (-1.1%) spent the day in negative territory as crude oil struggled amid dollar strength. WTI crude slumped 3.2% to $58.98/bbl while the Dollar Index (94.60, +0.51) gained 0.6%.

Today's participation was in-line with recent averages as more than 785 million shares changed hands at the NYSE floor.

Economic data included Initial Claims, Challenger Job Cuts, and Consumer Credit:

The initial claims level increased to 265,000 for the week ending May 2 from an unrevised 262,000 for the week ending April 25 while the Briefing.com consensus expected an increase to 280,000
There is no doubt that businesses have actively cut down on their layoff activity. The four-week moving average for initial claims declined to 279,500 from 283,750. For comparison, it was only a little more than a month ago in March wherein the four-week moving average was stable over 300,000
In the entire history of the data set, the four-week moving average has been below 280,000 only a handful of times. The last time was in May 2000
The April Challenger Job Cuts report indicated that planned layoffs increased 52.8% year-over-year to follow the prior 6.4% increase
Total outstanding consumer credit increased by $20.50 billion in March after increasing a downwardly revised $14.80 billion (from $15.50 billion) in February while the Briefing.com consensus expected an increase of $16.00 billion
That was the biggest increase in consumer credit since a gain of $21.50 billion in July 2014

Tomorrow, the Nonfarm payrolls report for April (Briefing.com consensus 218K) will be released at 8:30 ET while March Wholesale Inventories will be reported at 10:00 ET (consensus 0.3%).

Nasdaq Composite +4.4% YTD
Russell 2000 +1.7% YTD
S&P 500 +1.4% YTD
Dow Jones Industrial Average +0.6% YTD

3:35 pm: [BRIEFING.COM]

WTI took a hit today, sliding lower and ending the day below $59/barrel
June crude ultimately closed $1.96 lower at $58.98/barrel
June natural gas futures lost $0.05 to $2.73/MMBtu
Strength in the dollar index kept pressure on metals today such as gold and silver
June gold fell $8.30 to $1182.30/oz, while July silver lost $0.18 to $16.32/oz

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

The Consumer Credit report for March was just released by the Federal Reserve and it showed an increase of $20.50 billion. That was higher than the Briefing.com consensus estimate of $16.00 billion. The prior month's credit growth was revised to $14.80 billion from $15.50 billion.

2:30 pm: [BRIEFING.COM] Equity indices continue hovering near their highs with the Dow Jones Industrial Average (+0.7%) in the lead. Thanks to today's advance, the price-weighted Dow is now down just 0.4% for the week while the S&P 500 has given up 0.8% since last Friday. However, both indices have had a better showing than the Nasdaq, which remains lower by 1.1% for the week.

Elsewhere, Treasuries have notched new highs in recent action with the 10-yr yield now down five basis points at 2.19%. Still, the benchmark yield is higher by seven basis points since the end of last week.

The Consumer Credit report for March (Briefing.com consensus $16.00 billion) will be released at 15:00 ET.

2:00 pm: [BRIEFING.COM] The major averages remain near their highs.

On the day before the release of the April jobs report, the latest data on employment conditions continue to show solid strength.

The initial claims level increased to 265,000 for the week ending May 2 from an unrevised 262,000 for the week ending April 25. The Briefing.com Consensus expected the initial claims level to increase to 280,000.

There is no doubt that businesses have actively cut down on their layoff activity. The four-week moving average for initial claims declined to 279,500 from 283,750. For comparison, it was only a little more than a month ago in March wherein the four-week moving average was stable over 300,000.

In the entire history of the data set, the four-week moving average has been below 280,000 only a handful of times. The last time was in May 2000.

1:30 pm: [BRIEFING.COM] The major U.S. indices continue to outperform, with the Dow Jones Industrial Average and the Nasdaq Composite both up over 0.5%.

Despite the strength in the broad market, energy (-1.2%) continues to slump as WTI crude oil futures (-3.3% to $58.90/bbl) remain under notable pressure.

At the top of the hour, shares in online review website YELP (YELP 42.97, +4.75) surged following a WSJ report saying the company is exploring a sale. The report, and resulting gains in the stock have also lifted a number of names in the social media space, as observed through strength in the Social Media ETF (SOCL 19.80, +0.28).

12:55 pm: [BRIEFING.COM] The major averages hover near their highs at midday with the Dow Jones Industrial Average (+0.7%) and Nasdaq Composite (+0.7%) trading ahead of the S&P 500 (+0.5%).

The current standing represents a drastic shift from the dynamic that was on display during the overnight session when Treasuries and index futures faced selling pressure. The 10-yr note sold off in the early morning hours with its yield hitting a high near 2.30%; however, that move was followed by a rally into positive territory while equity futures cut their losses by the cash open.

Nine of ten sectors hold midday gains with the S&P 500 trading just above its 50-day moving average (2,090), which has served as resistance since Tuesday's closing bell. Heavily-weighted sectors have underpinned the first-half rally with technology (+1.0%), financials (+0.8%), and health care (+0.6%) showing relative strength.

Furthermore, several high-beta groups have fared even better with chipmakers showing broad gains after Atmel (ATML 8.05, +0.51) reported a bottom line beat and issued cautious guidance. Shares of ATML have jumped 6.8% while the PHLX Semiconductor Index trades higher by 1.1%. Conversely, chipmakers have contributed to the strength of the tech sector, but large cap names like Apple (AAPL 125.71, +1.22), Google (GOOGL 543.57, +8.49), and Microsoft (MSFT 47.00, +0.72) have held their own.

Elsewhere, the health care sector has received a boost from biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 344.00, +3.28) trading higher by 1.0%. Similarly, another high-beta group-Dow Jones Transportation Average (+1.4%)-has helped the industrial sector (+0.7%) stay ahead of the broader market.

On the downside, the energy sector is lower by 0.9% amid a 2.3% decline in crude oil. WTI crude currently hovers near $59.50/bbl with dollar strength likely contributing to the pressure (Dollar Index +0.6% at 94.64).

Economic data released this morning was limited to Initial Claims and Challenger Job Cuts:

The initial claims level increased to 265,000 for the week ending May 2 from an unrevised 262,000 for the week ending April 25 while the Briefing.com consensus expected an increase to 280,000
There is no doubt that businesses have actively cut down on their layoff activity. The four-week moving average for initial claims declined to 279,500 from 283,750. For comparison, it was only a little more than a month ago in March wherein the four-week moving average was stable over 300,000.
In the entire history of the data set, the four-week moving average has been below 280,000 only a handful of times. The last time was in May 2000.
The April Challenger Job Cuts report indicated that planned layoffs increased 52.8% year-over-year to follow the prior 6.4% increase

The Consumer Credit report for March (consensus $16.00 billion) will be released at 15:00 ET.

12:25 pm: [BRIEFING.COM] The S&P 500 has extended its gain to 0.5% with the technology sector (+0.9%) overtaking utilities (+0.8%) for the lead.

Despite today's advance, nine of ten sectors continue holding week-to-date losses while the financial sector is higher by 0.3% for the week. On the downside, energy and telecom services have had the worst showing with both groups down near 2.2% for the week. As for heavily-weighted groups, technology and health care hold respective week-to-date losses of 1.5% and 0.6% versus a 0.8% decline for the S&P 500.

Also of note, the benchmark index has recently climbed above its 50-day moving average (2,089), which has served as an area of resistance since Tuesday's closing bell.
Related Quotes

11:55 am: [BRIEFING.COM] Equity indices remain near their highs with the Russell 2000 (+0.2%) trailing the other averages. Interestingly, the underperformance of the Russell 2000 has not translated into weakness for other high-beta areas.

For instance, the high-beta chipmaker group remains strong with the PHLX Semiconductor Index up 0.9% while transport stocks also outperform (Dow Jones Transportation Average +1.3%). Furthermore, biotechnology also outperforms, but the iShares Nasdaq Biotechnology ETF (IBB 342.39, +1.67) has retreated from its opening high.

On the downside, energy (-1.1%) and materials (-0.1%) continue holding losses.

11:25 am: [BRIEFING.COM] The S&P 500 (+0.4%) has inched up to a new high and the index now trades in-line with the Dow and Nasdaq Composite.

Most heavily-weighted sectors have built on their gains with the three largest sectors by weight-technology (+0.7%), financials (+0.6%), and health care (+0.4%)-doing some heavy lifting. The tech sector remains underpinned by chipmakers with the PHLX Semiconductor Index trading higher by 1.1%. Almost all index components hold gains with Atmel (ATML 8.16, +0.62) trading higher by 8.3% after its bottom-line beat overshadowed cautious guidance.

Elsewhere, Treasuries remain near their recent levels with the 10-yr yield down three basis points at 2.21%.

10:55 am: [BRIEFING.COM] The major averages hold modest gains after enduring a volatile start to the session. The S&P 500 (+0.2%) currently hovers near its high with eight sectors trading in the green.

The rate-sensitive utilities sector (+0.8%) holds the lead while heavily-weighted technology (+0.6%) and health care (+0.5%) follow not far behind.

On the downside, the energy sector (-1.3%) remains pressured with crude oil trading lower by 2.7% at $59.31/bbl. Meanwhile, the other declining sector-materials-has narrowed its decline to just 0.1%.

Elsewhere, Treasuries have ticked down from their highs, but they continue holding gains with the 10-yr yield down four basis points at 2.21%.

10:45 am: [BRIEFING.COM]

Natural gas traded modestly higher in early morning price action, ahead of weekly EIA storage data.
Upon release of the data, natural gas dropped sharply to a new low for today, as the number was clearly interpreted as bearish.
June natural gas is now -1.1% to $2.75/MMBtu
The dollar has been climbing higher all morning and is trading up to near session highs in most recent trade
The dollar's climb has put pressure on several commodities.
The index is currently +0.6% to 94.65
Precious metals have been under modest selling pressure so far this morning, with June gold -0.6% at $1183.00/oz and July silver -1% to $16.34/oz
Crude oil is trading sharply lower by 2.5% to $59.40/barrel
July copper now stands at -0.3% to $2.92/lb

9:55 am: [BRIEFING.COM] Equity indices remain mixed with the Nasdaq Composite (+0.1%) showing relative strength.

As mentioned in our opening comment, biotechnology has shown strength since the early going while the technology sector (+0.4%) has joined the rally not long ago. High-beta chipmakers have fared better than their large cap counterparts with the PHLX Semiconductor Index up 1.0%.

On the downside, the energy sector (-1.6%) remains at the bottom of the leaderboard while other decliners hover near their flat lines.

Elsewhere, Treasuries have climbed to new highs with the 10-yr yield down five basis points at 2.20%.

9:40 am: [BRIEFING.COM] The major averages began the trading day near their flat lines after index futures recovered from their overnight lows.

The S&P 500 trades lower by 0.1% with six sectors in the red. Growth-sensitive energy (-0.9%) and materials (-0.7%) have paced the opening decline with the energy sector pressured by crude oil. WTI crude trades lower by 1.3% at $60.15/bbl with dollar strength presenting a headwind. Currently, the Dollar Index (94.48, +0.39) is higher by 0.4% as the greenback adds 0.5% against the euro (1.1290).

On the flip side, the health care sector (+0.3%) outperforms with help from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 342.93, +2.21) has climbed 0.7%, helping the Nasdaq Composite (+0.1%) stay ahead of the S&P 500.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -4.80. The stock market is on track for a modestly lower open as futures on the S&P 500 trade two points below fair value.

Futures on the benchmark index were down more than 15 points at the start of the European session with the move occurring amid continued weakness in German and U.S. bonds. However, U.S. Treasuries have charged back (10-yr yield at 2.23%) with index futures following suit. Meanwhile, Germany's bunds remain in negative territory with the benchmark 10-yr yield higher by seven basis points at 0.66% after nearing the 0.80% level earlier.

The Treasury market is likely to remain in focus today after the benchmark yield crossed its 200-day moving average (2.19%) yesterday for the first time since last April.

On the corporate front, Alibaba Group (BABA 88.76, +8.76) is on track to open higher by 10.9% after beating estimates and announcing that COO Daniel Zhang will be promoted to Chief Executive Officer. On the flip side, Tesla (TSLA 220.32, -10.11) is down 4.4% in pre-market despite beating earnings and revenue estimates.

8:54 am: [BRIEFING.COM] S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -10.10. The S&P 500 futures trade five points below fair value.

It was a sea of red for markets across the Asia-Pacific region on Thursday as the specter of rising interest rates in Europe and the U.S., a Morgan Stanley downgrade of the MSCI China Index, continued weakness in the Shanghai Composite (-2.8%), and some disappointing payroll change data out of Australia contributed to broad-based selling interest.

In economic data:
Japan's Monetary Base +35.2% year-over-year (expected 34.3%; prior 35.2%)
Australia's April Employment Change -2900 (expected +5000; prior 48,200); April Unemployment Rate 6.2% (expected 6.2%; prior 6.1%); April AIG Construction Index 47.0 (prior 50.0)

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Japan's Nikkei declined 1.2%, coming off its extended holiday break. Leading the declines were the communications (-1.9%), industrial (-1.3%), and consumer non-cyclical (-1.3%) sectors. Casio Computer (-5.1%), Citizen Holdings (-4.9%), and NTN Corp (-4.1%) topped the list of individual decliners while Toho Co (+5.2%), Tokyo Electric Power (+3.9%), and IHI Corp (+3.7%) paced the winners. Out of the 225 index members, 56 ended higher, 162 finished lower, and 7 were unchanged.
Hong Kong's Hang Seng dropped 1.3%, following mainland shares lower once again and pressured by a Morgan Stanley downgrade of the MSCI China Index. The utilities sector (+0.1%) was the only gainer on the day. Every other sector, including the influential financial sector (-1.2%) lost between 1.0% and 3.0%. China Mengniu Dairy (-4.7%), China Merchants Holdings (-4.0%), China Resources Land (-3.6%), Lenovo Group (-3.0%), and China Unicom Hong Kong (-3.0%) were the biggest laggards. Tingyi Cayman Islands Holding Corp (+1.5%) and New World Development (+1.4%) were the only stocks to gain more than 1.0%. Out of the 50 index members, 6 ended higher, and 44 finished lower.
China's Shanghai Composite declined 2.8% and finished at its low for the day. Weakness was a function of momentum trading cutting the other way as participants have grown anxious about recent price action and regulators' efforts to curb speculation. The utilities (-5.8%), energy (-4.7%), and industrial (-3.5%) sectors were the weakest areas in the Chinese market. China State Construction Engineering (-10.0%) and China Railway Group (-10.0%) were among the stocks falling by the daily maximum limit.

Major European indices trade mostly lower, but they have climbed off their worst levels of the day. Still, UK's FTSE remains down 0.8% with the general election underway. However, there is little expectation for any particular party coming away with an outright majority, meaning a coalition government is more likely. On a separate note, German bunds have faced continued selling pressure with the 10-yr yield higher by five basis points at 0.64% after briefly touching 0.79% in earlier action.

Economic data was limited:
Eurozone Retail PMI 49.5 (prior 48.6) o Germany's March Factory Orders +0.9% month-over-month (expected 1.5%; prior -0.9%)
France's March Industrial Production -0.3% month-over-month (consensus 0.1%; last 0.5%); March Trade Balance -EUR4.60 billion (expected -EUR3.60 billion; prior -EUR3.60 billion)
Swiss Q2 SECO Consumer Climate -6 (expected -11; previous -6)

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Germany's DAX trades higher by 0.3% with HeidelbergCement in the lead. The basic materials stock has jumped 3.2% while financials trade mixed. Commerzbank and Deutsche Boerse are both up near 1.0% while Allianz has surrendered 3.2%.
France's CAC has given up 0.4% with consumer and industrial names on the defensive. Alstom, Danone, Essilor International, and Schneider Electric are down between 1.2% and 3.3%.
UK's FTSE is lower by 0.8% with WM Morrison Supermarkets down 6.6% after reporting a decline in sales. On the upside, insurers and other financials outperform with Aviva, RSA Insurance Group, and Standard Life showing gains between 1.2% and 2.9%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: -3.90. The S&P 500 futures trade one point below fair value.

The latest weekly initial jobless claims count totaled 265,000 while the Briefing.com consensus expected a reading of 280,000. Today's tally was above the unrevised prior week count of 262,000. As for continuing claims, they fell to 2.228 million from 2.256 million.

8:01 am: [BRIEFING.COM] S&P futures vs fair value: -2.90. Nasdaq futures vs fair value: -4.30. U.S. equity futures hold modest losses amid cautious action overseas. The S&P 500 futures hover three points below fair value after notching their lows at the start of the European session.

It is worth noting that German bunds have faced continued selling pressure with the 10-yr yield higher by five basis points at 0.64% after briefly touching 0.79% in earlier action. Meanwhile, U.S. Treasuries hold gains with the 10-yr yield down five basis points at 2.20%.

The April Challenger Job Cuts report indicated that planned layoffs increased 52.8% year-over-year to follow the prior 6.4% increase.

Weekly Initial Claims (Briefing.com consensus 280K) will be reported at 8:30 ET while the Consumer Credit report for March (consensus $16.00 billion) will be released at 15:00 ET.

In U.S. corporate news of note:

21st Century Fox (FOXA 33.00, -0.68): -2.0% despite beating bottom-line estimates.
Alibaba Group (BABA 87.15, +7.15): +8.9% after beating estimates and announcing that its COO Daniel Zhang will be promoted to Chief Executive Officer.
ArcelorMittal (MT 10.30, -0.31): -2.9% after missing earnings and revenue expectations.
Keurig Green Mountain (GMCR 95.03, -13.05): -12.1% in reaction to disappointing results and cautious guidance.
Priceline (PCLN 1255.00, -9.15): after its cautious revenue guidance overshadowed better than expected results.
Tesla (TSLA 219.90, -10.53): -4.6% despite beating earnings and revenue estimates.
Whole Foods (WFM 41.41, -6.61): -13.2% after disappointing revenue and cautious revenue guidance overshadowed in-line earnings.

Reviewing overnight developments:

Asian markets ended lower. China's Shanghai Composite -2.8%, Hong Kong's Hang Seng -1.3%, and Japan's Nikkei -1.2%
In economic data:
Japan's Monetary Base +35.2% year-over-year (expected 34.3%; prior 35.2%)
Australia's April Employment Change -2900 (expected +5000; prior 48,200); April Unemployment Rate 6.2% (expected 6.2%; prior 6.1%); April AIG Construction Index 47.0 (prior 50.0)
In news:
China's Shanghai Composite was pressured by more signs that regulators will implement stricter margin requirements.

Major European indices trade lower across the board. UK's FTSE -1.1%, France's CAC -0.9%, and Germany's DAX -0.3%. Elsewhere, Italy's MIB -0.2% and Spain's IBEX -0.7%
Economic data was limited:
Eurozone Retail PMI 49.5 (prior 48.6)
Germany's March Factory Orders +0.9% month-over-month (expected 1.5%; prior -0.9%)
France's March Industrial Production -0.3% month-over-month (consensus 0.1%; last 0.5%); March Trade Balance -EUR4.60 billion (expected -EUR3.60 billion; prior -EUR3.60 billion)
Swiss Q2 SECO Consumer Climate -6 (expected -11; previous -6)
Among news of note:
The general election is underway in the UK, but there is little expectation for any particular party coming away with an outright majority, meaning a coalition government is likely.

5:52 am: [BRIEFING.COM] S&P futures vs fair value: -13.40. Nasdaq futures vs fair value: -32.20.

5:52 am: [BRIEFING.COM] Nikkei...19291.99...-239.60...-1.20%. Hang Seng...27289.97...-350.90...-1.30%.

5:52 am: [BRIEFING.COM] FTSE...6831.43...-102.30...-1.50%. DAX...11202.93...-147.20...-1.30%.

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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