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 Post subject: May 19th Tuesday Trade Results - Profit $360.00
PostPosted: Wed May 20, 2015 12:44 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)

Attachment:
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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 @ $360.00 dollars or +3.60 points, Emini ES ($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 @ $360.00 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=2078

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 ended the Tuesday session on an unchanged note after spending the entire day near their flat lines. The S&P 500 settled lower by 0.1% while the Dow Jones Industrial Average (+0.1%) outperformed slightly, edging up to another record closing high.

Overall, the Tuesday session was a snoozer that saw the benchmark index bounce inside a five-point range that was expanded to nine points by the close. The index was able to set a fresh intraday record high at 2,133.02 during the afternoon, but returned near its session low by the close.

For the second day in a row, heavily-weighted health care (+0.5%) and financials (+0.7%) outperformed throughout the day and kept the benchmark index from dipping too far below its flat line. The health care sector outperformed even as biotechnology struggled to keep pace with the iShares Nasdaq Biotechnology ETF (IBB 360.60, +0.30) adding 0.1%.

Elsewhere, the financial sector continued its recent outperformance amid increasing Treasury yields that are expected to boost net interest margins for banks. Thanks to today's gain, the sector is now up 3.4% in May versus a 2.0% gain for the S&P 500.

Treasury yields rose once again today, but not before an overnight rally in global bonds that followed remarks from European Central Bank executive member Benoit Coeure who said the ECB plans to frontload its asset purchases in hopes of avoiding thin liquidity conditions in July and August. The remarks boosted global bonds and weighed on the euro, sending the single currency lower by 1.5% against the dollar to 1.1150. Furthermore, the timing of the comments from Mr. Coeure was viewed as controversial because the original speech was delivered on Monday evening, London time, when the ECB member appeared before a private group of hedge fund investors; however, the speech was not released to the public until this morning. In response, the European Central Bank blamed the delay on an "internal procedural error."

Despite rallying overnight, U.S. Treasuries surrendered their gains in the morning after the April Housing Starts report beat expectations (1.135 mln; Briefing.com consensus 1.019 mln). True to recent form, the better than expected data point was seen as a potential headwind to the market considering a strong showing from the housing sector is likely to be used as an argument in favor of the Fed hiking rates sooner rather than later. That being said, homebuilder stocks outperformed with iShares Dow Jones US Home Construction ETF (ITB 27.30, +0.19) climbing 0.7%. Meanwhile, the broader consumer discretionary sector settled just below its flat line.

Also of note, another cyclical sector-energy-lost 1.2%, and settled behind the remaining nine groups as crude oil weighed. WTI crude ended lower by 3.6% at $58.08 and surrendered its May gain with the 1.1% increase in the Dollar Index (95.29, +1.07) adding to the pressure.

Today's participation represented an improvement from yesterday as more than 720 million shares changed hands at the NYSE floor.

Economic data was limited to Housing Starts and Building Permits:

Housing starts increased 20.2% in April to 1.135 mln from an upwardly revised 944,000 (from 926,000) in March while the Briefing.com consensus expected an increase to 1.019 mln
After the subpar first quarter, when housing starts plummeted to some of their worst levels since the middle of last year, construction levels rebounded significantly in April.
This was the first time starts reached 1.135 mln since November 2007 and it was the first time starts increased by at least 20.2% in a month since a 20.9% increase in February 1991.
Single-family starts increased 16.7% in April to 733,000 from 628,000 in March. That was the most single-family homes started since January 2008 when 773,000 were started.
Building permits rose to a seasonally adjusted annualized rate of 1.143 mln in April from a revised 1.038 mln for March (from 1.039 mln) while the Briefing.com consensus expected a reading of 1.065 mln

Tomorrow, the Weekly MBA Mortgage Index will be reported at 7:00 ET while the FOMC minutes from the April 29 meeting will be released at 14:00 ET.

Nasdaq Composite +7.1% YTD
Russell 2000 +4.4% YTD
S&P 500 +3.4% YTD
Dow Jones Industrial Average +2.8% YTD

3:35 pm: [BRIEFING.COM]

Strength in the dollar index continued to pressure commodities all day
WTI oil, natural gas, gold and copper futures all ended the day near today's lows
July crude oil closed up pit trading -2.4% at $57.99/barrel
June natural gas lost 2% to $2.95/MMBtu
June gold fell $20.70 today to $1206.90/oz, while July silver fell $0.65 to $17.08/oz
July copper fell $0.06 to $2.84/lb

3:00 pm: [BRIEFING.COM] The S&P 500 has returned to its flat line with one hour remaining in the session. The index has surrendered a three-point gain in recent action and will enter the home stretch near its unchanged level, which has been an area of congestion throughout the trading day.

Financials (+0.6%) and health care (+0.5%) remain in the lead while the weakest performer of the day-energy-has extended its decline to 1.3%.

Elsewhere, Treasuries are on course to register their second consecutive decline with the 10-yr higher by three basis points at 2.27%.

2:30 pm: [BRIEFING.COM] The S&P 500 (+0.1%) hovers near its session high that was established roughly 45 minutes ago, but the overall action remains subdued.

Similar to stocks, the Dollar Index (95.25, +1.03) hovers not far below its best level of the day, pressuring crude oil with the pit session about to end. WTI crude is currently lower by 3.6% at $58.07/bbl and today's decline has caused oil to surrender its May gain.

Elsewhere, Treasuries remain in the red, but above their lows, with the 10-yr yield higher by three basis points at 2.26%.

1:55 pm: [BRIEFING.COM] The major averages hold slim gains.

For the last several months, economic surprises have been decidedly negative. So it was really nice to finally see a strong positive surprise in a key economic number.

Housing starts increased 20.2% in April to 1.135 mln from an upwardly revised 944,000 (from 926,000) in March. The Briefing.com Consensus expected housing starts to increase to 1.019 mln.

After the subpar first quarter, when housing starts plummeted to some of their worst levels since the middle of last year, construction levels rebounded significantly in April. In fact, the April new home construction report revealed a lot of historic "firsts." Contrary to most of the economic data thus far in 2015, these "firsts" were the good ones.

That was the first time starts reached 1.135 mln since November 2007. That was the first time starts increased by at least 20.2% in a month since a 20.9% increase in February 1991. That was the first time starts increased by at least 191,000 since starts rose by 279,000 in January 2006.

The news gets even better.

Single-family starts increased 16.7% in April to 733,000 from 628,000 in March. That was the most single-family homes started since January 2008 when 773,000 were started. That was the largest monthly increase, in both percentage and absolute terms, since November 2013.

Since single-family construction is typically a stable sector, the gain puts housing starts back on its late-2014 path.

1:30 pm: [BRIEFING.COM] The major U.S. indices remain mixed at this time, with the Dow Jones Industrial Average outperforming.

A look inside the Dow Jones Industrial Average shows that Dupont (DD 71.23, +1.24), American Express (AXP 81.45, +1.28), and Merck (MRK 60.78, +0.77) are outperforming. Dupont is the best performer in the Dow on no specific news as shares continue to recover from the losses experienced last week after results from its annual shareholder meeting were revealed. American Express is also displaying relative strength after peer Mastercard (MA 93.88, +0.80) was upgraded to Overweight from Sector Weight at Pacific Crest.

Conversely, Wal-Mart (WMT 76.79, -3.13) is the worst-performing Dow component after the company reported weaker than expected Q1 results and guided its Q2 EPS towards the low end of expectations. The company noted on its conference call that a weaker than anticipated Sam's Club performance and currency fluctuations acted as headwinds.

With today's small gains, the DJIA is up 0.3% this week and 2.7% for the month.

12:55 pm: [BRIEFING.COM] The major averages are little changed at midday with the S&P 500 trading near its flat line after spending the first half of the day in a five-point range.

Equity indices have followed yesterday's record-setting session with a lackadaisical drift; however, the lack of activity in the stock market has overshadowed larger moves in other asset classes.

The overnight session saw a spike in the Dollar Index (95.33, +1.10) after European Central Bank executive member Benoit Coeure disclosed that the ECB plans to frontload its asset purchases in hopes of avoiding thin liquidity conditions in July and August. The remarks weighed on the euro, sending the single currency lower by 1.5% against the dollar to 1.1140. Furthermore, the comments from Mr. Coeure were viewed as controversial because they were made on Monday evening, London time, when the ECB member appeared before a private group of hedge fund investors, but the speech was not released to the public until this morning. For its part, the European Central Bank blamed the delay on an "internal procedural error."

In addition to pressuring the euro, Mr. Coeure's insight boosted European bonds while U.S. Treasuries also rallied, but surrendered their gains after the April Housing Starts report came in well ahead of expectations. Treasuries notched their highs during morning action, but they have returned into the middle of today's trading range with the 10-yr yield higher by two basis points at 2.26%.

Three sectors sport midday gains with financials (+0.7%) and health care (+0.7%) showing relative strength for the second consecutive day. Interestingly, the health care sector has outperformed even though biotechnology has struggled to keep pace, evidenced by a 0.2% gain in the iShares Nasdaq Biotechnology ETF (IBB 361.18, +0.88).

Elsewhere, the consumer discretionary space (+0.1%) hovers just above its flat line with homebuilders contributing to the slim gain as the iShares Dow Jones US Home Construction ETF (ITB 27.34, +0.23) adds 0.9%.

On the downside, the energy sector (-1.2%) is a clear laggard amid a 3.3% decline in crude oil ($58.23/bbl), which has been fueled by the aforementioned increase in the Dollar Index. Including today's decline, the growth-sensitive group is lower by 3.8% for the month while eight of the remaining nine sectors sport month-to-date gains.

Economic data was limited to Housing Starts and Building Permits:

Housing starts increased 20.2% in April to 1.135 mln from an upwardly revised 944,000 (from 926,000) in March while the Briefing.com consensus expected an increase to 1.019 mln
After the subpar first quarter, when housing starts plummeted to some of their worst levels since the middle of last year, construction levels rebounded significantly in April.
This was the first time starts reached 1.135 mln since November 2007 and it was the first time starts increased by at least 20.2% in a month since a 20.9% increase in February 1991.
Single-family starts increased 16.7% in April to 733,000 from 628,000 in March. That was the most single-family homes started since January 2008 when 773,000 were started.
Building permits rose to a seasonally adjusted annualized rate of 1.143 mln in April from a revised 1.038 mln for March (from 1.039 mln) while the Briefing.com consensus expected a reading of 1.065 mln

12:25 pm: [BRIEFING.COM] The major averages remain near their flat lines and trading ranges have contracted considerably with the S&P 500 spending the past hour in a two-point range.

The benchmark index set a fresh closing record high yesterday while also marking a new intraday high during the session. Today, however, the index has spent the first half of the session about three points below yesterday's session high at 2,131.78.

Meanwhile, the Nasdaq (-0.1%) outperformed yesterday, but the tech-heavy index trades behind the benchmark index today amid relative weakness in the technology sector (-0.2%).
Related Quotes

12:00 pm: [BRIEFING.COM] The S&P 500 remains anchored to its flat line as the quiet session continues.

Sector standing has not changed much as four groups defend their gains while six display losses between 0.2% (industrials) and 1.1% (energy).

Interestingly, the industrial sector trades not far behind the broader market even though transport stocks lag. The Dow Jones Transportation Average has surrendered 0.5% today, cutting into yesterday's advance. The bellwether complex remains higher by 1.2% for the week, but is still down 4.8% since the start of the year.

Meanwhile, large cap sector components like General Electric (GE 27.31, 0.00) and Boeing (BA 147.40, +0.69) trade ahead of the broader market.

11:25 am: [BRIEFING.COM] Range-bound action continues with the S&P 500 (unch) bouncing between 2,125 and 2,131 as four sectors continue hanging onto gains.

The financial sector (+0.6%) has strung together a quiet rally to continue this week's outperformance amid a steepening yield curve. Meanwhile, the health care sector (+0.6%) has kept pace with financials even though biotechnology has struggled to stay in the green. The iShares Nasdaq Biotechnology ETF (IBB 360.84, +0.54) trades higher by 0.2% after erasing a slim loss.

Both financials and health care have added 1.2% so far this week.

10:55 am: [BRIEFING.COM] Not much change in the market with the Dow, Nasdaq, and S&P 500 all trading within 0.1% of their respective flat lines.

Six sectors hover in the red at this juncture with energy (-1.2%) remaining behind the other nine groups. The growth-sensitive sector continues facing pressure from crude oil, which has extended its decline to 2.7% at $58.64/bbl. In turn, the weakness in oil is largely due to a 1.2% spike in the Dollar Index (95.38, +1.17), which is looking for its second consecutive advance after turning positive for the month earlier today.

On the upside, financials (+0.6%) and health care (+0.5%) lead after pacing yesterday's advance.

10:30 am: [BRIEFING.COM]

The rally in the dollar continued from yesterday into this morning's session, and strength in the index is weighing on certain commodities.
The index is now at +1.2% to 95.38, off 5% from its multi-year highs seen in March
Precious metals have been trading in the red all session, as declines in gold and silver are being further pressured by dollar strength.
June gold is now down 1.6% to $1208.60/oz and July silver is currently -3.5% to $17.11/oz
July crude is also down on the dollar index's strength, in addition to growing bullish market sentiment that Middle Eastern supply remains strong.
Oil fell from near flat overnight, to near its LoD in most recent trade, and now stands -2.7% to $58.64/barrel
Natural Gas is seeing a strong rally, as weather forecasts have begun to call for above-average near term temperatures across the country.
July Natural gas is now +2% to $3.07/MMBtu
July Copper has fallen by 2.3% to $2.84/lb so far this session

9:55 am: [BRIEFING.COM] Equity indices continue searching for direction with the Nasdaq (+0.1%) poking its head into the green while the S&P 500 remains closer to its flat line.

Once again, the financial sector (+0.4%) finds itself in the lead and the group is now up 3.1% for the month, which puts it only behind the health care sector. The countercyclical group has gained 4.2% since the end of April, extending its 2015 advance to 9.1%.

Elsewhere, the 10-yr note remains near its low with the benchmark yield up four basis points at 2.28% while the Dollar Index (95.21, +0.99) trades higher by 1.1% with the dollar adding 1.4% against the euro (1.1160).

9:40 am: [BRIEFING.COM] The major averages began the session above their flat lines before slipping into the red.

The S&P 500 trades just below its flat line with consumer discretionary (+0.1%) and financials (+0.3%) showing relative strength for the second consecutive day. Meanwhile, energy (-1.0%) and consumer staples (-0.4%) have slipped out of the gate with the staples sector pressured by Wal-Mart (WMT 77.82, -2.10) after the retail giant reported disappointing results.

For its part, the energy sector has been weighed down by crude oil, which is currently lower by 1.9% at $59.10/bbl while the Dollar Index (95.24, +1.02) adds 1.1%. Elsewhere,

Treasuries have slid to new lows, pushing the 10-yr yield up to 2.29% (+5 bps).

9:13 am: [BRIEFING.COM] S&P futures vs fair value: +1.60. Nasdaq futures vs fair value: +6.10. The stock market is on track for a modestly higher open as futures on the S&P 500 trade two points above fair value. Index futures held modest gains throughout the night, spiking to highs around 3:00 ET after European Central Bank member Benoit Coeure disclosed that the ECB plans to front-load its asset purchases in hopes of avoiding thin liquidity conditions in July and August.

In addition to underpinning European and U.S. equities, the news gave a boost to global bonds. To that point, Germany's 10-yr bund sits on its high with the yield down five basis points at 0.60%. Meanwhile, the U.S. 10-yr has surrendered its overnight gain not long ago, sliding to lows after the Housing Starts (1.135 million; Briefing.com consensus 1.019 million) and Building Permits (1.143 million; Briefing.com consensus 1.065 million) report surpassed estimates. The benchmark yield is currently higher by two basis points at 2.26%. Similar to Treasuries, index futures retreated following today's economic data.

On the corporate front, Wal-Mart (WMT 77.94, -1.98) is on track to open lower by 2.5% after missing earnings/revenue estimates and guiding toward the low end of analyst expectations. On the flip side, Home Depot (HD 116.88, +2.55): +2.1% in reaction to a one-cent beat.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +1.60. Nasdaq futures vs fair value: +7.70. The S&P 500 futures trade two points above fair value.

Most markets in the Asia-Pacific region gained ground on Tuesday on the back of Wall Street's record-setting showing. China's Shanghai Composite (+3.1%) was the biggest mover, drawing further support from news that Beijing is planning some investor-friendly reform efforts.

In economic data:
Australia's CB Leading Index -0.1% month-over-month (prior +0.5%)
Hong Kong's April Unemployment Rate slipped to 3.2% from 3.3%, (expected 3.3%)
South Korea's April PPI 0.0% month-over-month (prior -0.1%); -3.6% year-over-year (prior -3.7%)
New Zealand's Q1 PPI Input -1.1% quarter-over-quarter (expected -0.7%; prior -0.4%) while Q1 PPI Output -0.9% quarter-over-quarter (prior -0.1%)

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Japan's Nikkei increased 0.7%, reclaiming a stance above the 20,000 level. Gains were seen across all sectors, yet no sector gained more than 1.0%. The consumer cyclical (+0.9%) and industrial (+0.9%) sector set the pace. Individual standouts included Shiseido Co (+5.1%), Nitto Boseki (+4.7%), and Nisshin Seifun Groyup (+4.1%). Nippon Yusen KK (-2.6%) was the worst-performing stock. Out of the 225 index members, 134 ended higher, 79 finished lower, and 12 were unchanged.
Hong Kong's Hang Seng jumped 0.4%, supported by strength in the mainland market and gains in the industrial (+1.7%), basic materials (+0.7%), and financial (+0.6%) sectors. Bank of Communications (+2.9%), China Life Insurance (+2.9%), and China Resources Land (+2.3%) led individual gainers while Power Assets Holdings (-2.9%), Kunlun Energy (-1.6%) and China Merchants Holdings Intl. (-1.4%) led decliners. Out of the 50 index members, 28 ended higher, 20 finished lower, and 2 were unchanged.
China's Shanghai Composite surged 3.1% and ended at its highs for the session. Sentiment was lifted by Wall Street's record-setting performance, talk of a potential Shenzhen-Hong Kong Stock Connect program, and news, according to CNBC, that Beijing plans to implement reform efforts that include improving the IPO system, developing the capital markets, and gradually pulling back controls over deposit rates. The financial sector (+4.6%) led all sectors in Tuesday's broad-based rally effort.

Major European indices trade higher across the board with Germany's DAX (+2.0%) setting the pace. European equities spiked while the euro fell more than 150 pips against the dollar to 1.1130 after European Central Bank member Benoit Coeure said the central bank plans to purchase a large amount of assets up front in order to avoid thin liquidity that is expected in July and August.

Participants received several data points:
Eurozone April CPI +0.2% month-over-month; 0.0% year-over-year. Both reading matched expectations. Separately, Core CPI +0.3% month-over-month; +0.6% year-over-year, as expected. Also of note ZEW Economic sentiment fell to 61.2 from 64.8 (expected 62.4) and the March trade surplus widened to EUR23.40 billion from EUR20.30 billion (expected surplus of EUR22.80 billion)
Germany's ZEW Economic Sentiment fell to 41.9 from 53.3 (consensus 49.0)
UK's April CPI +0.2% month-over-month (expected 0.4%); -0.1% year-over-year (consensus 0.0%). Separately, Core CPI +0.8% year-over-year (expected 1.0%; last 1.0%). Also of note, Input PPI -11.7% year-over-year (expected -11.5%; prior -12.8%) and House Price Index rose 9.6% year-over-year (consensus 7.7%; previous 7.2%)

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UK's FTSE is higher by 0.5% with roughly 80% of index components trading in the green. Consumer names lead with Burberry, GKN, Kingfisher, and Taylor Wimpey up between 1.8% and 2.1%. On the flip side, Vodafone has given up 3.1% while miners Anglo American, BHP Billiton, Glencore/Xstrata, and Randgold Resources hold losses between 0.8% and 2.9%.
In France, the CAC trades up 1.9% thanks to gains among 38 of 40 components. Renault has jumped 4.1% after reporting strong sales while AXA and Unibail-Rodamco follow with gains close to 3.0% apiece. Oil services company Technip is the weakest performer, down 1.3%.
Germany's DAX has gained 2.0% amid broad strength. BMW, Daimler, and Volkswagen lead with gains between 2.9% and 3.6% while Merck has surrendered 0.4%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +16.30. The S&P 500 futures trade five points above fair value.

Housing Starts rose to a seasonally adjusted annualized rate of 1.135 million units in April. That was up from a revised 944,000 million units in March (from 926,000). The Briefing.com consensus expected starts to increase to 1.019 million units.

Building permits rose to a seasonally adjusted annualized rate of 1.143 million in April from a revised 1.038 million for March (from 1.039 million). The Briefing.com consensus expected permits to come in at 1.065 million.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +15.70. U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover five points above fair value after notching their highs around 3:00 ET when European Central Bank member Benoit Coeure disclosed that the ECB plans to front-load its asset purchases.

Treasuries hit their highs after the comments from Mr. Coeure with the 10-yr yield down four basis points at 2.20%.

Economic data will be limited to April Housing Starts (Briefing.com consensus 1.019 million) and Building Permits (consensus 1.065 million) with both reports set to be released at 8:30 ET.

In U.S. corporate news of note:

Dick's Sporting Goods (DKS 52.70, -3.59): -6.4% after reporting in-line results.
Home Depot (HD 115.70, +1.37): +1.2% in reaction to a one-cent beat.
Take-Two Interactive (TTWO 26.24, +2.04): +8.4% after beating earnings estimates on light revenue and mixed guidance.
Urban Outfitters (URBN 34.50, -6.22): -15.3% in reaction to disappointing results. The stock received several downgrades following earnings.
Wal-Mart (WMT 78.10, -1.82): -2.3% after missing earnings/revenue estimates and guiding toward the low end of analyst expectations.

Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite +3.1%, Japan's Nikkei +0.7%, and Hong Kong's Hang Seng +0.4%
In economic data:
Australia's CB Leading Index -0.1% month-over-month (prior +0.5%)
Hong Kong's April Unemployment Rate slipped to 3.2% from 3.3%, (expected 3.3%)
South Korea's April PPI 0.0% month-over-month (prior -0.1%); -3.6% year-over-year (prior -3.7%)
New Zealand's Q1 PPI Input -1.1% quarter-over-quarter (expected -0.7%; prior -0.4%) while Q1 PPI Output -0.9% quarter-over-quarter (prior -0.1%)
In news:
China's Shanghai Composite surged after China State Council announced its economic reform priorities for the year, focused mainly on financial reform.

Major European indices trade higher across the board. UK's FTSE +0.4%, France's CAC +1.6%, and Germany's DAX +1.9%. Elsewhere, Spain's IBEX +1.3% and Italy's MIB +1.5%
Participants received several data points:
Eurozone April CPI +0.2% month-over-month; 0.0% year-over-year. Both reading matched expectations. Separately, Core CPI +0.3% month-over-month; +0.6% year-over-year, as expected. Also of note ZEW Economic sentiment fell to 61.2 from 64.8 (expected 62.4) and the March trade surplus widened to EUR23.40 billion from EUR20.30 billion (expected surplus of EUR22.80 billion)
Germany's ZEW Economic Sentiment fell to 41.9 from 53.3 (consensus 49.0)
UK's April CPI +0.2% month-over-month (expected 0.4%); -0.1% year-over-year (consensus 0.0%). Separately, Core CPI +0.8% year-over-year (expected 1.0%; last 1.0%). Also of note, Input PPI -11.7% year-over-year (expected -11.5%; prior -12.8%) and House Price Index rose 9.6% year-over-year (consensus 7.7%; previous 7.2%)
Among news of note:
The euro fell more than 100 pips against the dollar to 1.1185 after European Central Bank member Benoit Coeure said the central bank plans to purchase a large amount of assets up front in order to avoid thin liquidity that is expected in July and August

5:47 am: [BRIEFING.COM] S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +15.10.

5:47 am: [BRIEFING.COM] Nikkei...20026.38...+136.10...+0.70%. Hang Seng...27693.54...+102.30...+0.40%.

5:47 am: [BRIEFING.COM] FTSE...6992.08...+23.20...+0.30%. DAX...11802.36...+208.80...+1.80%.

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
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wrbanalysis@gmail.com
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