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 Post subject: May 14th Thursday Trade Results - Profit $600.00
PostPosted: Thu May 14, 2015 11:45 pm 
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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 @ $600.00 dollars or +6.00 points, Emini ES ($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 @ $600.00 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=2075

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 major averages registered solid gains on Thursday with the S&P 500 climbing 1.1%. The benchmark index settled at a fresh record high of 2121.10 while the Nasdaq Composite (+1.4%) outperformed.

Equity indices spiked out of the gate and spent the rest of the day in a slow drift higher with all ten sectors taking part in the advance. The top-weighted technology sector (+1.7%) followed yesterday's outperformance with another strong showing that kept the group in the lead throughout the session. Large cap names like Apple (AAPL 128.95 +2.94), Google (GOOGL 549.20, +9.71), Microsoft (MSFT 48.72, +1.09), and Facebook (FB 81.37, +2.93) gained between 1.8% and 3.7%, which helped overshadow a 1.0% decline in the shares of Cisco Systems (CSCO 29.05, -0.30) after the company reported a one-cent beat and issued in-line guidance. It is worth noting that Cisco's report triggered a Sterne Agee CRT downgrade to 'Neutral.'

Meanwhile, high-beta chipmakers could not keep pace with the sector, but the PHLX Semiconductor Index still gained 1.2%, ending ahead of the broader market. However, another high-beta group, biotechnology, contributed to the strength in the Nasdaq. To that point, iShares Nasdaq Biotechnology ETF (IBB 355.59, +4.74) gained 1.4% and climbed above its 50-day moving average (350.53) after struggling with that level since the end of April. In turn, the health care sector (+1.4%) settled among the leaders.

Similar to health care, the countercyclical consumer staples sector (+1.5%) also settled ahead of the S&P 500. Avon Products (AVP 7.07, +0.40) was a notable mover within the group after it was reported that PTG Capital offered $18.75 per share of AVP; however, Avon responded to the report, saying no such offer has been received and that it was unable to verify the existence of PTG Capital. Shares of AVP briefly rallied to their 50-day moving average (8.09), before narrowing their gain to 6.0% by the close.

Overall, five sectors added 1.0% or more while consumer discretionary (+0.4%) and energy (+0.1%) represented the only two laggards of note.

The discretionary sector was weighed down by apparel retailers after Kohl's (KSS 64.62, -9.89) delivered an uninspiring report. The stock fell 13.3% after disappointing comparable store sales and below-consensus revenue overshadowed a bottom-line beat.

Elsewhere, the energy sector lagged amid a pullback in crude oil. WTI crude settled lower by 1.0% at $59.88/bbl. even as the Dollar Index (93.40, -0.21) slipped 0.2%, registering its third consecutive decline.

Today's advance in equities was accompanied by a rallying Treasury market with the 10-yr yield falling five basis points to 2.23%.

Once again, participation was relatively light with roughly 700 million shares changing hands at the NYSE floor.

Economic data included Initial Claims and PPI:

The initial claims level declined to 264,000 for the week ending May 9 from an unrevised 265,000 while the Briefing.com consensus expected an increase to 275,000
That was the third consecutive week that the initial claims level remained below 270,000
The four-week moving average dropped to 271,750 from 279,500, which is the lowest level since April 22, 2000
The continuing claims level remained at 2.229 mln for the week ending May 2 after a slight upward revision (from 2.228 mln) for the week ending April 25
After the first increase since October 2014, producer prices resumed their downward trajectory in April with the PPI declining 0.4% in April after increasing 0.2% in March while the Briefing.com consensus expected an increase of 0.2%
Food prices declined 0.9% in April after declining 0.8% in March. These prices haven't increased on a month-to-month basis since November 2014.
Excluding food and energy, core PPI declined 0.2% in April after increasing 0.2% in March while the consensus expected an increase of 0.1%

Tomorrow, the Empire Manufacturing Index for May (Briefing.com consensus 4.5) will be released at 8:30 ET while April Industrial Production (consensus 0.1%) and Capacity Utilization (expected 78.4%) will both be reported at 9:15 ET. The day's data will be topped off with the 10:00 ET release of the preliminary reading of the Michigan Sentiment Index for May (expected 96.0).

Nasdaq Composite +6.7% YTD
Russell 2000 +3.5% YTD
S&P 500 +3.0% YTD
Dow Jones Industrial Average +2.4% YTD

3:35 pm: [BRIEFING.COM]

The dollar index slid off of today's low, which gave a little support to precious metals late in the day
June gold ended $7.10 higher to $1225.00/oz, while July silver rose $0.26 to $17.49/oz
WTI oil remained in the red all day, ultimately closing $0.58 lower at $59.88/barrel.
Nat gas held gains after surged higher following the weekly storage data
June nat gas rose $0.07, closing at $3.00/MMBtu today

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 1.0% with one hour remaining in the Thursday session. Furthermore, the benchmark index is on track to register a fresh closing high as long as it stays above 2,117.69.

Six of ten sectors are on track to enter tomorrow's session with week-to-date gains between 0.1% (financials) and 0.9% (technology). On the flip side, the energy sector has given up 1.9% so far this week while the materials sector (-0.8%) displays the narrowest week-to-date loss.

On a separate note, the Dollar Index (63.46, -0.16) has returned into the red and is now tracking its third consecutive decline.

2:25 pm: [BRIEFING.COM] The stock market remains just below its session high as the quiet afternoon continues.

Sector standing has not changed much since our midday comment with consumer staples (+1.5%), technology (+1.6%), and health care (+1.3%) holding the lead while consumer discretionary (+0.4%) and energy (+0.2%) remain at the bottom of the leaderboard.

Elsewhere, Treasuries have ticked down from their highs, but the 10-yr note continues holding a solid gain with its yield down four basis points at 2.25%.

1:55 pm: [BRIEFING.COM] The major averages continue hovering near their highs.

As the debates on the first rate hike heat up, there is still no indication that inflation growth is positioned to suddenly accelerate.

After the first increase since October 2014, producer prices resumed their downward trajectory in April. The PPI declined 0.4% in April after increasing 0.2% in March. The Briefing.com Consensus expected the PPI to increase 0.2%.

Excluding food and energy, core PPI declined 0.2% in April after increasing 0.2% in March. The consensus expected these prices to increase 0.1%.

Final demand for services declined 0.1% in April after a 0.1% increase in March. Nearly the entire decline was a result of a 0.8% decrease in final demand trade services, of which 40% of the decline was a result of a 1.0% drop in margins for machinery and equipment wholesaling.

Excluding food, energy, and trade, the PPI increased 0.1% in April, down from a 0.2% increase in March.

Pipeline pressures continue to remain weak. Core processed intermediate goods prices fell 0.5% in April after decreasing 0.2% in March. That was the eighth consecutive monthly decline. Core unprocessed goods prices were flat after decreasing 2.3% in March. Those prices haven't increased since September 2014.

1:35 pm: [BRIEFING.COM] The major U.S. indices continue their march higher with the S&P 500 now up 1% and flirting with closing at a record high.

In equities, shares of Avon Products (AVP 7.04, +0.37) have been volatile in recent trade following an SEC filing from a firm titled 'PTG Capital' who, in the filing, purported to offer to purchase Avon for $18.75 per share. The filing initially spiked shares higher, resulting in numerous volatility halts. Shortly after, Avon issued a formal statement saying they have not received such an offer from PTG Capital and cannot currently confirm that that entity actually exists.

In commodities, natural gas futures (+2% to $3.00/mmbtu) remain strong after the weekly EIA inventory data showed a smaller build than expected. Conversely, WTI crude oil futures (-1.6% to $59.53/bbl) have continued to bleed lower, but have found some support above $59.50 ahead of the closing of pit trading.

Separately, the Treasury auctioned off $16 bln in 30-year notes in an offering met with average demand. The auction drew a high yield of 3.044% and a bid-to-cover of 2.20%.
After the close, notable earnings are expected from Nordstrom (JWN 74.70, -1.47), Symantec (SYMC 25.79, +0.47), and King Digital (KING 15.31, -0.36), among others

12:55 pm: [BRIEFING.COM] The major averages hold solid midday gains with the Nasdaq Composite (+1.2%) trading ahead of the S&P 500 (+0.9%). Thanks to the advance, the S&P 500 is now flat for the week while the Nasdaq is higher by 0.7% since last Friday.

Equity indices registered the bulk of their gains at the open, and they have inched up from those levels since this morning. All ten sectors hold gains with yesterday's leader-technology (+1.4%)-setting the pace once again today.

The tech sector has been underpinned by strength in large cap names like Apple (AAPL 128.46, +2.45), Microsoft (MSFT 48.62, +1.00), and Facebook (FB 81.23, +2.79) with the trio showing gains between 1.9% and 3.6%. Conversely, the strength in influential names has helped the Nasdaq Composite stay ahead of the S&P 500. In addition, the Nasdaq has received support from biotechnology, evidenced by a 1.3% gain in iShares Nasdaq Biotechnology ETF (IBB 355.26, +4.41), which has returned above its 50-day moving average (350.53).

The solid gains among influential tech names have overshadowed a 0.7% decline in Cisco Systems (CSCO 29.13, -0.22) after the company reported a one-cent beat and issued in-line guidance. The stock was downgraded to 'Neutral' at Sterne Agee CRT following earnings.

Elsewhere, the industrial sector trades in-line with the broader market, but transport stocks have struggled to keep pace once again. The Dow Jones Transportation Average has added 0.3% today, narrowing its weekly decline to 2.0%.

Similar to industrials, most other sectors trade near the S&P 500 while consumer discretionary (+0.3%) and energy (+0.2%) lag. The discretionary sector has been weighed down by losses among apparel retailers after Kohl's (KSS 65.43, -9.08) reported disappointing comparable store sales and below-consensus revenue.

Meanwhile, the energy sector has retreated from its high amid a pullback in crude oil, which is now down 1.7% at $59.47/bbl.

Economic data included Initial Claims and PPI:

The initial claims level declined to 264,000 for the week ending May 9 from an unrevised 265,000 while the Briefing.com consensus expected an increase to 275,000
That was the third consecutive week that the initial claims level remained below 270,000
The four-week moving average dropped to 271,750 from 279,500, which is the lowest level since April 22, 2000
The continuing claims level remained at 2.229 mln for the week ending May 2 after a slight upward revision (from 2.228 mln) for the week ending April 25
After the first increase since October 2014, producer prices resumed their downward trajectory in April with the PPI declining 0.4% in April after increasing 0.2% in March while the Briefing.com consensus expected an increase of 0.2%
Food prices declined 0.9% in April after declining 0.8% in March. These prices haven't increased on a month-to-month basis since November 2014
Excluding food and energy, core PPI declined 0.2% in April after increasing 0.2% in March while the consensus expected an increase of 0.1%

12:25 pm: [BRIEFING.COM] Recent action saw the S&P 500 (+0.8%) inch up to a fresh session high while the Dow (+1.0%) and Nasdaq Composite (+1.1%) continue showing relative strength.

The tech-heavy Nasdaq has extended its lead not long ago thanks to the continued strength in the tech sector (+1.4%). In addition, biotech names have recovered their early losses with the iShares Nasdaq Biotechnology ETF (IBB 353.76, +2.91) now trading higher by 0.8% after returning above its 50-day moving average (350.51). For its part, the broader health care sector (+0.9%) trades just ahead of the broader market.

Elsewhere, Treasuries remain not far below their best levels of the session with the 10-yr yield lower by five basis points at 2.24%.
Related Quotes

11:55 am: [BRIEFING.COM] The stock market remains on autopilot with the major averages respecting narrow ranges near their session highs.

Thanks to today's advance, the S&P 500 is now down just 0.1% for the week while the Dow and Nasdaq hold respective week-to-date gains of 0.1% and 0.5%. The Nasdaq owes its outperformance to large cap technology components while the tech sector (+0.6% week-to-date) trades ahead of the remaining groups.

In addition to technology, four other sectors are on track to register weekly gains while energy and utilities have struggled this week. For the week, the two sectors are down 1.7% and 1.2%, respectively.

11:30 am: [BRIEFING.COM] Not much change in the market with the S&P 500 (+0.7%) hovering just below its session high.

Most sectors remain near their best levels of the day while the energy space (+0.3%) has endured some volatility. The sector began among the laggards, but was able to briefly pull ahead of the broader market. However, the growth-sensitive group has returned to the bottom of the leaderboard amid a pullback in crude oil. The energy component is now down 0.9% at $59.96/bbl.

Crude oil fell to lows as part of a move that coincided with a rebound in the dollar. The Dollar Index (93.65, +0.03) has returned to its flat line at the expense of the euro after European Central Bank President Mario Draghi said the ECB plans to conduct its entire purchase program despite a pickup in economic data across Europe.

10:55 am: [BRIEFING.COM] Equity indices continue cruising near their best levels of the session with the Dow (+0.9%) trading ahead of the S&P 500 (+0.7%).

The price-weighted Dow outperforms with all 30 components holding gains. Of the 30 advancers, eight index members show gains of at least 1.0% with Microsoft (MSFT 48.60, +0.97) trading higher by 2.1%. Fittingly, the technology sector (+1.2%) remains in the lead.

Elsewhere, Treasuries have built on their gains with the 10-yr yield now down six basis points at 2.23%.

10:40 am: [BRIEFING.COM]

The dollar index has been trading down all morning, falling as far as 93.14 for its LoD
Weakness in the index, which is now trading -0.2% to 93.41, has given support to certain commodities, particularly previous metals so far this session
Both gold and silver are currently holding moderate gains, with June gold +0.6% to $1225.40/oz and July silver +1.8% to $17.53/oz
Natural gas also showed weakness in early trade, ahead of the EIA's weekly stockpile report, which anticipated a large build.
Upon release of the data, which showed working gas in storage of 1,897 bcf, Natural gas spiked higher and is now trading +2% to $2.99/MMBtu
Crude oil just sold off to a new low for today, below $60/barrel
July crude is now -0.8% to $60.04/barrel
July copper is currently -0.1% to $2.93/lb

9:55 am: [BRIEFING.COM] The stock market remains near its opening high with the S&P 500 (+0.5%) drifting about two points below its best level of the session.

Nine sectors continue holding gains while the consumer discretionary space (-0.1%) has turned negative with apparel retailers showing broad weakness following disappointing revenue and comparable store sales from Kohl's (KSS 66.64, -7.83).

Elsewhere, the energy sector (+0.7%) also began the day among the laggards, but now trades in between today's leading sectors while crude oil trades higher by 0.2% at $60.64/bbl.

9:40 am: [BRIEFING.COM] As expected, the major averages began the day with solid gains. The S&P 500 trades higher by 0.6% with all ten sectors showing opening gains.

The top-weighted technology sector (+0.9%) has begun the day ahead of other groups after ending yesterday's session in the lead. The sector has received an early boost from large cap components, but high-beta names have also fared well with the PHLX Semiconductor Index trading higher by 0.8%.

Elsewhere, health care (+0.6%), financials (+0.5%) and industrials (+0.5%) also hold solid gains while the consumer discretionary sector (+0.2%) underperforms, trading alongside the energy (+0.1%) space.

Treasuries have climbed to highs with the 10-yr yield down four basis points at 2.25%.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: +13.00. Nasdaq futures vs fair value: +36.40. The stock market is on track for a higher open as futures on the S&P 500 trade 13 points above fair value.

Index futures spent the bulk of the night near their flat lines, but climbed to highs once markets in Europe opened for action; however, it is worth pointing out that trading volume across Europe has been low with many foregoing the session for Ascension Day.

Domestically, investors have received a few quarterly reports with retailers Kohl's (KSS 67.15, -7.36) and J.C. Penney (JCP 8.62, -0.09) on track to open in the red after the former reported below-consensus revenue and comparable store sales while the latter beat bottom-line estimates. Elsewhere, Shake Shack (SHAK 74.10, +5.74) has jumped 8.4% in pre-market after beating earnings and revenue expectations.

On the economic front, weekly initial claims ticked down to 264,000 from 265,000 reported last week while April PPI (-0.4%; Briefing.com consensus 0.2%) and core PPI (-0.2%; consensus +0.1%) missed expectations. The two reports were followed by a slight retreat in the greenback with the Dollar Index (93.26, -0.36) now down 0.4%.

Treasuries hold modest gains with the 10-yr yield down three basis points at 2.25%.

8:54 am: [BRIEFING.COM] S&P futures vs fair value: +12.40. Nasdaq futures vs fair value: +33.80. The S&P 500 futures trade 12 points above fair value.

It was a relatively mixed day of returns for markets in the Asia-Pacific region on Thursday as Wall Street's uneven performance after the disappointing retail sales report and worries about rising bond rates curbed investor enthusiasm.

In economic data:
Japan's Machine Tool Orders +10.4% year-over-year (prior +14.9%), M2 Money Stock +3.6% year-over-year (expected +3.6%; prior +3.6%), Foreign Investments in Japanese Stocks JPY 72.7 bln (prior JPY 821.0 bln), and Foreign Bond Buying JPY 492.6 bln (prior JPY 185.3 bln)
India's April WPI Inflation -2.65% year-over-year (expected -2.30%; prior -2.33%)
South Korea's May M2 Money Supply +9.0% year-over-year (prior +8.6%)
New Zealand's Q1 Retail Sales +2.7% quarter-over-quarter (expected +1.5%; prior +1.9%) and April Business NZ PMI 51.8 (prior 54.5)

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Japan's Nikkei declined 1.0%, pressured by losses in all sectors. The weakest links were the communications (-1.8%), energy (-1.4%), consumer non-cyclical (-1.4%), and industrial (-1.1%) sectors. SKY Perfect JSAT Holdings (-7.8%), Casio Computer (-5.2%), and Chiyoda Corp (-4.4%) topped the list of individual decliners. Konica Minolta (+11.9%) led all gainers. Out of the 225 index members, 55 ended higher, 164 finished lower, and 6 were unchanged.
Hong Kong's Hang Seng increased 0.1% in a rather mixed day of trading. The technology sector (+2.1%) scored the biggest gain, yet that was offset by relative weakness in the more influential energy (-0.8%), consumer cyclical (-0.7%), and financial (-0.2%) sectors. Tencent Holdings (+2.9%), Cathay Pacific Airways (+2.2%), and Lenovo Group (+2.1%) led the winners while Tingyi Cayman Islands Holding Corp (-2.5%), CNOOC (-2.4%), and Sands China (-2.3%) paced the losers. Out of the 50 index members, 27 ended higher, 20 finished lower, and 8 were unchanged.
China's Shanghai Composite increased 0.1% in a day of relatively subdued trading action. The basic materials (+3.1%) sector was the best-performing area in the Chinese market on Thursday, but losses in the technology (-2.1%), communications (-1.0%), financial (-0.7%), and industrial (-0.6%) sectors acted as an offset.

Major European indices trade with modest gains, but activity has been subdued across the region with many participants away for Ascension Day.

Investors did not receive any economic data

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UK's FTSE is higher by 0.2% with financials and consumer names showing strength. St James's Place and 3i Group hold respective gains of 1.1% and 3.2% while EasyJet, International Consolidated Airlines, and Intertek Group are up between 0.9% and 1.3%.
In France, the CAC has gained 0.6% amid general strength. L'Oreal and LVMH have gained 0.9% and 1.4%, respectively while exporters Renault and Peugeot lag with respective losses of 0.5% and 0.2%.
Germany's DAX trades up 0.8%. Drug makers Bayer and Merck are both up near 1.0% while Daimler and Volkswagen hold respective losses of 0.2% and 0.5%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +12.60. Nasdaq futures vs fair value: +31.70. The S&P 500 futures trade 13 points above fair value.

The latest weekly initial jobless claims count totaled 264,000 while the Briefing.com consensus expected a reading of 275,000. Today's tally was below the unrevised prior week count of 265,000. As for continuing claims, they held at 2.229 million.

Separately, April producer prices fell 0.4%, while the consensus expected an increase of 0.2%. Core producer prices decreased 0.2% while the consensus expected an uptick of 0.1%.

7:54 am: [BRIEFING.COM] S&P futures vs fair value: +11.50. Nasdaq futures vs fair value: +28.90. U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover 12 points above fair value with the entire advance coming after the start of the European session.

Meanwhile, Treasuries have recovered the bulk of yesterday's losses with the 10-yr yield down two basis points at 2.26%.

Weekly Initial Claims (Briefing.com consensus 275K) and April PPI (consensus 0.2%) will be released at 8:30 ET.

In U.S. corporate news of note:

Cisco Systems (CSCO 29.07, -0.28): -1.0% after reporting a one-cent beat and issuing in-line guidance. The stock was downgraded to 'Neutral' at Sterne Agee CRT following earnings.
J.C. Penney (JCP 8.66, -0.05): -0.6% despite beating bottom-line estimates and raising its comparable store sales guidance.
Kohl's (KSS 68.01, -6.50): -8.7% after below-consensus revenue and comparable store sales overshadowed a bottom-line beat.
Shake Shack (SHAK 74.45, +6.09): +8.9% in reaction to better than expected earnings and revenue.
Vipshop Holdings (VIPS 27.54, +0.88): +3.1% after beating earnings and revenue estimates.

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei -1.0%, China's Shanghai Composite +0.1%, and Hong Kong's Hang Seng +0.1%
In economic data:
Japan's Machine Tool Orders +10.4% year-over-year (prior +14.9%), M2 Money Stock +3.6% year-over-year (expected +3.6%; prior +3.6%), Foreign Investments in Japanese Stocks JPY 72.7 bln (prior JPY 821.0 bln), and Foreign Bond Buying JPY 492.6 bln (prior JPY 185.3 bln)
India's April WPI Inflation -2.65% year-over-year (expected -2.30%; prior -2.33%)
South Korea's May M2 Money Supply +9.0% year-over-year (prior +8.6%)
New Zealand's Q1 Retail Sales +2.7% quarter-over-quarter (expected +1.5%; prior +1.9%) and April Business NZ PMI 51.8 (prior 54.5)
In news:
The People's Bank of China refrained from conducting open market operations for the eight consecutive session on Thursday.

Major European indices trade with modest gains. Germany's DAX +0.6%, France's CAC +0.5%, and UK's FTSE +0.1%. Elsewhere, Italy's MIB +0.7% and Spain's IBEX +0.5%
Investors did not receive any economic data this morning
Among news of note:
Activity across Europe has been subdued with many participants staying away from the markets for Ascension Day

6:08 am: [BRIEFING.COM] S&P futures vs fair value: +9.20. Nasdaq futures vs fair value: +24.30.

6:08 am: [BRIEFING.COM] Nikkei...19570.24...-194.50...-1.00%. Hang Seng...27286.55...+37.30...+0.10%.

6:08 am: [BRIEFING.COM] FTSE...6945.99...-3.60...-0.10%. DAX...11355.73...+4.30...+0.00%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com
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