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 Post subject: May 12th Tuesday Trade Results - Profit $6430.00
PostPosted: Wed May 13, 2015 12:03 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 @ $2,680.00 dollars or +26.80 points, Emini ES ($ES_F) futures @ $3,750.00 dollars or +75.00 points, Light Crude Oil CL ($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 @ $6,430.00 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=2073

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 ended the Tuesday session on a modestly lower note, which masked an early drop that had the S&P 500 (-0.3%) down as much as 20 points at the start.

Equity indices endured a shaky open after the overnight session featured more selling in European and U.S. bond markets; however, that pressure abated shortly before the opening bell with the U.S. 10-yr note marking its low at 8:00 ET. At that time, the benchmark yield marked a session high at 2.36% and began its daylong retreat that ended at 2.26% (-3 bps). The ensuing rally in Treasuries fostered a rebound in equities with the S&P 500 returning above its 50-day moving average (2,089) after sliding beneath that level at the start.

The S&P 500 ended the day not far below its flat line, but only two sectors finished the day with gains. The energy space (+0.4%) outperformed throughout the day thanks to a 2.5% gain in crude oil ($60.59/bbl), which was underpinned by a 0.5% decline in the Dollar Index (94.55, -0.46).

Elsewhere, the industrial sector (-0.1%) settled just below its flat line even though high-beta transport stocks lagged notably. The Dow Jones Transportation Average fell 1.2% with all 20 components registering losses while the largest sector member-General Electric (GE 27.03, +0.11)-gained 0.4%.

Meanwhile, the remaining cyclical sectors posted losses. The materials space (-1.0%) spent the day behind other groups while technology (-0.5%) and financials (-0.4%) prevented the broader market from turning positive. Similar to transport stocks, high-beta chipmakers displayed relative weakness throughout the day with the PHLX Semiconductor Index falling 0.9%.

As for large cap tech names, Microsoft (MSFT 47.35, -0.02) and Cisco Systems (CSCO 29.23, +0.02) outperformed while Google (GOOGL 538.73, -7.05) and Facebook (FB 77.46, -0.55) lagged. Also of note, Yelp (YELP 48.83, +0.21) settled lower by 0.4% after the Wall Street Journal contrasted the potential acquisition of the company with Verizon's (VZ 49.62, -0.18) purchase of AOL (AOL 50.52, +7.93) for $50/share or $4.40 billion. Recall that Yelp spiked 23.0% on Thursday after the Wall Street Journal reported the social media company is looking into a potential sale.

Similar to technology, the influential health care sector (-0.5%) presented a headwind throughout the day. The sector finished among the laggards even as the biotech group settled near the broader market with the iShares Nasdaq Biotechnology ETF (IBB 351.79, -0.50) reclaiming its 50-day moving average (349.96).

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

Economic data was limited to the Treasury Budget and JOLTS:

The Treasury budget showed a surplus of $157.00 billion in April 2015, up from a surplus of $106.90 billion in April 2014 and roughly in-line with the Briefing.com consensus estimate that called for a surplus of $155.00 billion
The Treasury data are not seasonally adjusted, so the April surplus cannot be compared to the $52.90 billion deficit recorded in March
The Job Openings and Labor Turnover Survey for March showed that job openings decreased to 4.994 million from a revised rate of 5.144 million (from 5.133 million)

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while April Retail Sales (Briefing.com consensus 0.2%) and April Import/Export Prices will be reported at 8:30 ET. The day's data will be topped off with the 10:00 ET release of the Business Inventories report for March (consensus 0.2%).

Nasdaq Composite +5.1% YTD
Russell 2000 +2.4% YTD
S&P 500 +2.0% YTD
Dow Jones Industrial Average +1.4% YTD

3:35 pm: [BRIEFING.COM]

Following OPEC's monthly report and ahead of the weekly EIA storage report, WTI crude oil closed ended the day $1.49/barrel (or +2.5%) to $60.73/barrel
Corn and ultimately closed near the unchanged line following today's USDA WASDE report. Corn gained one cent to $3.61/bu, while wheat futures lost one cent to $4.81/bu
June natural gas rallied 3.6% today to $2.90/MMBtu
Metals gained today as well
June gold rose $9.80 to $1192.70/oz, while July silver gained $0.25 to $16.55/oz.

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.1% with one hour remaining in the Tuesday session.

The stock market hit its session low during the initial minutes of today's affair before spending the remainder of the day in a slow rebound. Thanks to the daylong recovery effort, the benchmark index now trades just beneath its flat line while the Dow and Nasdaq have also erased their intraday losses.

This morning, we pointed out the underperformance of the top-weighted technology (-0.2%), financials (-0.2%), and health care (-0.2%) sectors, and all three groups continue trailing the broader market. However, five other groups trade in the green with energy (+0.5%), industrials (+0.1%), and consumer staples (+0.1%) in the lead.

Elsewhere, Treasuries have surrendered a portion of their gains with the 10-yr yield hovering at 2.26% (-2 bps) after marking a low at 2.24%.

2:30 pm: [BRIEFING.COM] The S&P 500 (-0.2%) continues holding a slim loss.

Today's JOLTS report again confirmed that the labor market recovery is a slow-going process.

Total job openings declined slightly from 5.144 mln in February to 4.994 mln in March. The job vacancy rate dipped to 3.4% from 3.5%.

Since the end of the Great Recession, hiring rates have been much slower than they were in prior business cycle. As a result, vacancies are much higher given the current unemployment rate than what they were prior to the recession.

If hiring rates remained at their previous level, a 3.4% vacancy rate would more closely correlate with an unemployment rate that is full percentage point lower, 4.5%.

2:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.3%.

The Treasury Budget statement for April was just released and it showed a surplus of $156.70 billion (Briefing.com consensus $155.00 billion). The Treasury data are not seasonally adjusted, so the April surplus cannot be compared to the $53.00 billion deficit recorded in March.

1:35 pm: [BRIEFING.COM] The major U.S. indices continue their slow, but steady move toward break-even levels. With stocks at their best levels of the day, the S&P 500 has recovered 17 points from this morning's weakness.

As the main U.S. stock exchanges have recovered to show only small losses on the day, three S&P sectors are showing gains, led by energy (+0.5%). The energy sector is getting a boost from gains in WTI crude oil (+2% to $60.50/bbl) ahead of tonight's API inventory data and following some weakening in the dollar.

After the close, recent IPO GoDaddy (GDDY 26.58, +0.50) is scheduled to report its first quarterly report since debuting on the NYSE in early April.

Separately, the $24 billion 3-yr note auction was met with strong indirect demand. The issue drew a high yield of 1.00% and a bid-to-cover ratio of 3.34 that was just ahead of the prior 12-auction average (3.29)

12:55 pm: [BRIEFING.COM] The major averages hold modest midday losses with the Dow, Nasdaq, and S&P 500 all down near 0.2% at this juncture.

Although the key indices trade in the red, their current standing represents a notable improvement from their opening levels. The benchmark index was down nearly 20 points at the start as sellers pressed on amid continued weakness in the Treasury market. However, Treasuries notched their lows at 8:00 ET with the 10-yr yield hitting the 2.36% mark prior to reversing. Currently, the 10-yr note sits near its high with the benchmark yield down four basis points at 2.25%, which has contributed to the rebound in equities.

Even though stocks have climbed off their lows, nine sectors remain in the red while energy (+0.5%) has received support from a 2.3% jump in crude oil ($60.58/bbl). On the flip side, the materials sector (-0.8%) is the weakest performer while top-weighted technology (-0.4%), financials (-0.4%), and health care (-0.5%) trade behind the broader market.

Furthermore, high-beta groups have also struggled with the Dow Jones Transportation Average trading lower by 1.2% even though the industrial sector (-0.2%) outperforms. Elsewhere, biotechnology also lags with iShares Nasdaq Biotechnology ETF (IBB 351.00, -1.29) trading lower by 0.4%. Similarly, chipmakers have spent the first half behind the broader technology sector with the PHLX Semiconductor Index down 0.6%.

On the corporate front, AOL (AOL 50.58, +7.99) has agreed to be acquired by Verizon (VZ 49.66, -0.14) for $50/share, representing a 16.7% premium to yesterday's closing price.

Economic data released this morning was limited to the Job Openings and Labor Turnover Survey for March, which showed that job openings decreased to 4.994 million from a revised rate of 5.144 million (from 5.133 million).

The Treasury Budget for April will be released at 14:00 ET.

12:30 pm: [BRIEFING.COM] Not much change in the market with the S&P 500 trading lower by 0.4%. Earlier today, the benchmark index notched a session low just beneath its 50-day moving average (2,089), which has been an area of congestion through a large part of April.

The S&P 500 currently trades about nine points above the 50-day average while the Nasdaq Composite (-0.4%) also trades within ten points of its own 50-day average.

The materials sector (-0.9%) is the weakest performer at this juncture while heavily-weighted technology, financials, and health care show losses close to 0.6% apiece.
Related Quotes

11:55 am: [BRIEFING.COM] The major averages remain near their recent levels with the S&P 500 trading lower by 0.3%. The benchmark index began the day with a 20-point loss, but was able to narrow its decline to just five points during the opening 90 minutes of the session.

Since that move, the index has lurked not far below its flat line as a handful of large sectors like technology (-0.4%), financials (-0.4%), and health care (-0.5%) remain weak. Notably, the health care sector has been pressured by biotechnology with iShares Nasdaq Biotechnology ETF (IBB 349.50, -2.79) down 0.8% and back below its 50-day moving average (349.93).

Elsewhere, Treasuries have continued their advance with the 10-yr yield now down four basis points at 2.24%.

11:25 am: [BRIEFING.COM] Equity indices remain near their rebound highs, but the energy sector (+0.5%) is the only group trading in the green at this time.

The energy sector has drawn strength from crude oil, which hovers near its best level from this morning, trading higher by 1.8% at $60.33. The energy component has received a boost from dollar weakness, evidenced by a 0.6% decline in the Dollar Index (94.46, -0.55).

Elsewhere, industrials (-0.1%) and consumer staples (-0.1%) hover just below their flat lines while the largest sector by weight-technology-remains lower by 0.5%.

10:55 am: [BRIEFING.COM] The major averages have climbed off their lows with the Dow Jones Industrial Average narrowing its decline to 0.2%. Meanwhile, the S&P 500 (-0.3%) follows a little behind, but the benchmark index has erased more than half of its opening loss.

The energy sector (+0.2%) has extended its gain while the remaining groups remain below their flat lines. That being said, top-weighted sectors like technology (-0.7%), financials (-0.4%), and health care (-0.3%) have moved off their lows alongside the broader market.

It is worth noting the rebound in stocks has coincided with a bounce in the Treasury market. The 10-yr note is now in the green with its yield down two basis points at 2.27%.

10:40 am: [BRIEFING.COM]

Weakness in the dollar is giving support to certain commodities this morning, most notably precious metals and crude oil.
The dollar has been trading in the red all session, reaching as low as 94.25 in earlier action, and is now trading -0.6% to 94.45
Some big catalysts today include the monthly OPEC report, the WASDE report and the weekly Crop Progress report
Overnight, OPEC released its monthly report, which said that for 2015, oil demand growth is anticipated to be around 1.17 mb/d, unchanged from the previous monthly Oil Market report. Following this, oil has been up all morning. June oil is now +0.7% to $59.67/barrel
Grains are strong today, and are currently near today's highs ahead of the market-moving USDA WASDE report, which will be released at Noon ET.
Wheat is now +1.8% to $4.90/bu, Soybeans are +0.7% to $9.80/bu, and Corn is +0.4% to $3.62/bu
Precious metals are currently trending modestly higher on the dollar's weakness, with June gold +0.5% to $1188.80/oz and July silver +0.3% to $16.36/oz
Natural gas has also rallied strong all morning, on forecasts for relatively warm weather conditions across the country. The July contract is now +4.2% to $2.92/MMBtu
July Copper is currently at +1% to $2.93/lb

10:05 am: [BRIEFING.COM] The S&P 500 trades lower by 0.8%.

Just released, the March Job Openings and Labor Turnover Survey showed that job openings decreased to 4.994 million from a revised rate of 5.144 million (from 5.133 million).

9:45 am: [BRIEFING.COM] As expected, the major averages began the session under pressure. The S&P 500 trades lower by 0.8% while the Nasdaq Composite (-1.1%) underperforms.

All ten sectors display early losses with the energy space (-0.2%) hovering near its flat line with crude oil trading higher by 0.7% at $59.68/bbl. On the flip side, heavily-weighted technology (-1.0%), financials (-0.8%), health care (-0.7%), and consumer discretionary (-0.7%) have struggled in the early going. The four laggards will be in focus today considering they are the largest sectors by weight.

Elsewhere, Treasuries have reclaimed most of their overnight losses, leaving the 10-yr yield higher by a basis point at 2.30%.

The Job Openings and Labor Turnover Survey for March will be released at 10:00 ET.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -12.60. Nasdaq futures vs fair value: -30.30. The stock market is on track for a lower open as futures on the S&P 500 trade 13 points below fair value. Index futures retreated overnight amid continued selling in the Treasury market that has pushed the benchmark 10-yr yield up to 2.30% (+2 bps). Similarly, European bonds have also faced some additional selling with Germany's 10-yr yield jumping six basis points to 0.68%.

Staying in Europe, Greece has reportedly made its EUR750 million payment to the International Monetary Fund, but according Kathimerini, the country used its reserves held at the Fund, which must be replenished within a month.

Turning back to the U.S., corporate news has been limited, but AOL (AOL 50.28, +7.69) has spiked 18.1% in pre-market after agreeing to be acquired by Verizon (VZ 49.55, -0.25) for $50/share.

Today's economic data will be limited to the 10:00 ET release of the Job Openings and Labor Turnover Survey for March and the 14:00 ET release of the April Treasury Budget (Briefing.com consensus $155.00 billion).

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -12.60. Nasdaq futures vs fair value: -31.30. The S&P 500 futures trade 13 points below fair value.

Markets in the Asia-Pacific region were mixed Tuesday as Wall Street's weak showing on Monday and the striking jump in sovereign bond yields around the globe curtailed investor enthusiasm. China's Shanghai Composite was a notable exception in the region as it followed up Monday's 3.0% gain with a 1.6% increase on Tuesday.

In economic data:
Japan's March Leading Index 105.5 (expected 105.5; prior 104.8); Coincident Indicator -1.2% (prior -2.8%)
Australia's March Home Loans +1.6% month-over-month (expected +1.0%; prior +1.1%); March Invest Housing Finance +6.4% month-over-month (prior -3.4%)
New Zealand's REINZ House Price Index +0.5% month-over-month (prior +6.7%)

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Japan's Nikkei ended Tuesday flat, but finished the session on an upswing that recouped an earlier loss of about 150 points. The financial (+0.7%) and industrial (+0.4%) sectors provided support that offset weakness in the energy (-0.5%) and basic materials (-0.3%) sectors. Sharp Corp (+11.1%) rebounded from Monday's drubbing to lead individual gainers and was followed by Suzuki Motor (+7.8%) and Nisshinbo Holdings (+7.7%). Nippon Kayaku (-7.7%) and Taiyo Yuden (-6.8%) were the biggest decliners. Out of the 225 index members, 136 ended higher, 83 finished lower, and 6 were unchanged.
Hong Kong's Hang Seng declined 1.1% and ended at its low for the day, dropping roughly 200 points in the final hour. Every sector closed the day with a loss. The technology (-2.6%) and basic materials (-2.0%) sectors were the weakest areas, but the financial sector (-1.1%) was the most influential laggard. China Overseas Land & Investment (-3.6%), China Unicom Hong Kong (-2.8%), and China Mengniu Dairy (-2.5%) were the largest decliners. Tingyi Cayman Islands Holding (+3.8%) was the only stock to gain more than 1.0%. Out of the 50 index members, 5 ended higher, 43 finished lower, and 2 were unchanged.
China's Shanghai Composite continued Monday's rally and added 1.6% on Tuesday. The index closed at its high for the day, underpinned by broad-based buying interest. The utilities (+3.1%) (+3.1%), communications (+2.9%), and industrial (+2.6%) sectors led the way for the Chinese market.

Major European indices trade lower across the board with Germany's DAX (-1.8%) leading the retreat. According to Kathimerini, Greece has made its EUR750 million payment to the International Monetary Fund by using reserves held at the Fund, which must be replenished within a month.

Economic data was limited:
UK's March Industrial Production +0.5% month-over-month (expected 0.1%; prior 0.1%); +0.7% year-over-year (consensus 0.2%; previous 0.1%). March Manufacturing Production +0.4% month-over-month (consensus 0.3%; last 0.5%); +1.1% year-over-year (expected 1.0%; prior 1.2%)

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In France, the CAC is lower by 1.2% with all but three names in the red. Industrial names underperform with Airbus, Peugeot, and Renault down between 1.5% and 3.0%. On the upside, Technip outperforms, trading higher by 0.8%.
UK's FTSE has given up 1.6% amid broad weakness. EasyJet is the weakest performer, down 9.9%, in reaction to a warning that an air traffic control strike in France would reduce profits by GBP25 million. Peer International Consolidated Airlines trades down 3.2%. Miners outperform with Fresnillo and Randgold Resources both up near 1.4%.
Germany's DAX trades down 1.8% with exporters BMW, Daimler, and Volkswagen down between 2.2% and 2.9%. Steelmaker ThyssenKrupp is the lone advancer, trading higher by 3.3%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: -14.90. Nasdaq futures vs fair value: -35.20. U.S. equity futures continue holding the bulk of their losses with futures on the S&P 500 trading about five points above their session low. Similarly, Treasuries have retreated overnight, and they too hover near their low. As a result, the benchmark 10-yr yield is higher by five basis points at 2.33%.

It is worth noting that the selloff has not been limited to the U.S. For instance, Germany's 10-yr bund has also tumbled, sending its yield higher by almost ten basis points to 0.71% after beginning the month near 0.36%.

On a related note, the Dollar Index (94.47, -0.54) is lower by 0.6% with the euro adding 0.8% against the greenback (1.1237).

7:57 am: [BRIEFING.COM] S&P futures vs fair value: -17.00. Nasdaq futures vs fair value: -37.80. U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures trade 17 points below fair value after notching their lows at the start of the European session. The retreat in futures has occurred amid continued weakness in Treasuries with the 10-yr yield higher by six basis points at 2.33%.

Today's economic data will be limited to the 10:00 ET release of the Job Openings and Labor Turnover Survey for March and the 14:00 ET release of the April Treasury Budget (Briefing.com consensus $155.00 billion).

In U.S. corporate news of note:

AOL (AOL 50.35, +7.76): +18.2% after agreeing to be acquired by Verizon (VZ 49.40, -0.40) for $50/share.
Gap (GPS 38.50, -1.37): -3.4% in reaction to a 12.0% decline in April same store sales.
Pall (PLL 120.17, +20.86): +21.0% after the Wall Street Journal reported Danaher (DHR 83.56, 0.00) and Thermo Fisher Scientific (TMO 129.87, -0.11) may be interested in PLL.
Rackspace Hosting (RAX 45.75, -7.38): -13.9% despite reporting a one-cent beat. The stock received a pair of downgrades following earnings.

Reviewing overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng -1.1%, China's Shanghai Composite +1.6%, and Japan's Nikkei settled flat.
In economic data:
Japan's March Leading Index 105.5 (expected 105.5; prior 104.8); Coincident Indicator -1.2% (prior -2.8%)
Australia's March Home Loans +1.6% month-over-month (expected +1.0%; prior +1.1%); March Invest Housing Finance +6.4% month-over-month (prior -3.4%)
New Zealand's REINZ House Price Index +0.5% month-over-month (prior +6.7%)
In news:
The dollar/yen pair spent the night in a 50-pip range with the yen currently trading higher by 0.1% against the greenback at 120.00.
Major European indices trade lower across the board. France's CAC -1.4%, UK's FTSE -1.6%, and Germany's DAX -2.0%. Elsewhere, Italy's MIB -0.5% and Spain's IBEX -1.5%.
Economic data was limited:
UK's March Industrial Production +0.5% month-over-month (expected 0.1%; prior 0.1%); +0.7% year-over-year (consensus 0.2%; previous 0.1%). March Manufacturing Production +0.4% month-over-month (consensus 0.3%; last 0.5%); +1.1% year-over-year (expected 1.0%; prior 1.2%)
Among news of note:
According to Kathimerini, Greece has made its EUR750 million payment to the International Monetary Fund by using reserves held at the Fund, which must be replenished within a month.

5:49 am: [BRIEFING.COM] S&P futures vs fair value: -19.40. Nasdaq futures vs fair value: -41.70.

5:49 am: [BRIEFING.COM] Nikkei...19624.84...+3.90...+0.00%. Hang Seng...27407.18...-311.00...-1.10%.

5:49 am: [BRIEFING.COM] FTSE...6911.97...-117.90...-1.70%. DAX...11411.11...-262.90...-2.30%.

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

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