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 Post subject: June 30th Tuesday Trade Results - Profit $12875.00
PostPosted: Tue Jun 30, 2015 5:24 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 2805
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 @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $12,875.00 dollars or +257.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $12,875.00 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=144&t=2110

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=265&t=2781 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 final June session on a higher note, but that did not stop the S&P 500 (+0.3%) from registering a 2.1% loss for the month.

Equity indices spent the first three hours of the day in a steady retreat from their opening highs with the S&P 500 making a momentary appearance in the red after German Chancellor Angela Merkel said that Germany cannot consider new proposals from Greece until after Sunday's referendum.

However, the benchmark index climbed to a fresh high during afternoon action with the move taking place amid reports Greece could cancel its Sunday referendum if negotiations are resumed and an agreement could be reached on required prior actions. To that point, Eurogroup Chief Jeroen Dijsselbloem acknowledged the receipt of a new proposal from the Greek government with the offer set to be reviewed at tomorrow's Eurogroup meeting.

The speculation about a potential cancellation of the referendum had little impact on the euro, which spent the afternoon near its session low reached after Ms. Merkel's comments. The single currency slid 0.6% against the dollar to 1.1145.

Meanwhile, Treasuries spent the afternoon near their flat lines after erasing their overnight losses. The 10-yr note ended just below its flat line with its yield higher by a basis point at 2.34%, which represented a 22-basis point increase since the end of May.

Seven sectors settled in the green with energy (+0.6%) and consumer discretionary (+0.5%) showing relative strength throughout the day. The energy sector rallied behind crude oil, which climbed 1.9% to $59.44/bbl. Despite today's outperformance, the energy sector still lost 3.6% for the month.

Similar to energy, eight other sectors finished the month in negative territory while the consumer discretionary sector (+0.5%) added 0.5% thanks to today's outperformance. Homebuilders represented an area of relative strength in June with iShares Dow Jones US Home Construction ETF (ITB 27.45, +0.02) adding 0.1% today to extend its monthly gain to 3.1%.

Elsewhere, the top-weighted technology sector (+0.2%) spent the day just behind the broader market as several large cap names struggled while high-beta chipmakers fared relatively well. The PHLX Semiconductor Index gained 0.4% with all but eight components ending in the green. Despite today's strength, the Semiconductor Index lost 8.7% in June.

The underperformance among large cap tech names did not stop the Nasdaq Composite (+0.6%) from ending ahead of the broader market as biotechnology displayed relative strength. The iShares Nasdaq Biotechnology ETF (IBB 368.97, +8.40) gained 2.3% while the health care sector (+0.4%) settled ahead of other countercyclical groups.

Today's trading volume was heavier than average as quarter-end flows contributed to the increased activity with more than a billion shares changing hands at the NYSE floor.

Economic data included Chicago PMI, Consumer Confidence, and Case-Shiller 20-city Index:

The Chicago PMI increased to 49.4 in June from 46.2 in May while the Briefing.com consensus expected an increase to 50.0
According to the report, manufacturing activity in the Chicago region has contracted in 4 out of the last 5 months
The contraction in production eased in June, as the related index increased to 49.8 from 45.8 in May
Unfortunately, the contraction may not end next month as the Order Backlogs Index fell to 41.0 in June from 47.3 in May, which was the lowest reading since September 2009
The Conference Board's Consumer Confidence Index increased to 101.4 in June from a downwardly revised 94.6 (from 95.4) in May while the Briefing.com consensus expected an increase to 97.5
The Expectations Index increased to 94.6 in June from 86.2 in May while the Present Situation Index rose to 111.6 from 109.5
The Case-Shiller 20-city Home Price Index for April rose 4.9% against a 5.6% increase expected by the Briefing.com consensus
This followed the previous month's increase of 5.0%

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while June Challenger Job Cuts will be reported at 7:30 ET. The ADP Employment Report for June (Briefing.com consensus 220K) will be released at 8:15 ET while May Construction Spending (consensus 0.3%) and June ISM Index (expected 53.2) will both be reported at 10:00 ET.

Nasdaq Composite +5.3% YTD
Russell 2000 +4.0% YTD
S&P 500 +0.2% YTD
Dow Jones Industrial Average -1.1% YTD

3:35 pm: [BRIEFING.COM]

The dollar index continued to trade higher today, which weighed on commodities such as metals today
Grains showed some impressive volatility today following today's USDA report
Corn rallied 10% to $4.22/bushel today, wheat rallied $6% to $6.17/bu and soybeans gained 6% to $10.36/bu
However, the energy space found some buying strength
Aug crude oil ended up the day $1.12 higher to $59.44/barrel, while Aug natural gas rose $0.02 to $2.83/MMBtu
Metals showed some modest losses today
Copper lost $0.02 to finish the day at $2.61/lb
Aug gold fell $7.30 to $1171.80, while Sept silver fell $0.08 to $15.62/oz

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.5% with one hour remaining in the session. Today's affair has been a volatile one for the benchmark index even though the S&P 500 has spent the entire day in the green.

Given its current level, the benchmark index is on track to lose 1.9% in June, which puts the index on track to end the second quarter unchanged. For its part, the Dow (+0.3%) underperforms today and is down 0.7% for the quarter while the Nasdaq (+0.7%) has climbed 1.9% in Q2.

Also of note, today's advance has caused participants to lift some of their hedges evidenced by a 2.2% decline in the CBOE Volatility Index (VIX 18.44, -0.41), which tested the 19.80% level earlier.

2:25 pm: [BRIEFING.COM] The major averages hover near their highs with the Nasdaq Composite (+0.9%) trading ahead of the S&P 500 (+0.7%).

Equities have climbed off their intraday lows with the rebound following reports that Greece's Sunday referendum could be cancelled if negotiations are resumed and an agreement could be reached on required prior actions. However, unlike stocks, the euro has not moved much in reaction to this report and currently hovers near 1.1150 against the dollar.

Also of note, Treasuries have slipped back into the red with the 10-yr yield ticking up one basis point to 2.34%.

1:55 pm: [BRIEFING.COM] The S&P 500 has returned into the neighborhood of its session high.

Consumer confidence shook off its springtime malaise in June.

The Conference Board's Consumer Confidence Index increased to 101.4 in June from a downwardly revised 94.6 (from 95.4) in May. The Briefing.com Consensus expected the Consumer Confidence Index to increase to 97.5.

The increase in the index brought it back in-line with March levels.

The Expectations Index increased to 94.6 in June from 86.2 in May. The Present Situation Index rose to 111.6 from 109.5. That was the highest reading since it reached 112.1 in February.

Typically, confidence follows trends in job market conditions, gasoline costs, and equity values. In June, strong improvements in job market conditions, as shown by an initial claims level that flirted with 15-year lows throughout the month, outweighed gasoline price increases.

1:30 pm: [BRIEFING.COM] The major indices have resumed moving higher since our last update after bouncing off their session lows.

A look inside the Dow Jones Industrial Average shows Disney (DIS 114.19, +1.14), UnitedHealth Group (UNH 122.10, +0.91), and DuPont (DD 63.93, +0.29) are outperforming. Disney and DuPont are higher on the heels of outperformance in their respective sectors, consumer discretionaries and materials

Conversely, McDonalds (MCD 94.73, -0.71) is the worst-performing Dow component.

After yesterday's steep decline, the DJIA is down 1.86% so far in the shortened week, and set to close out June down ~2.2%

12:55 pm: [BRIEFING.COM] The major averages trade near their flat lines at midday after sliding from their opening highs. The S&P 500 was up near 0.8% at the start, but currently trades flat with five sectors in the red.

Equity indices began the day on an upbeat note, trying to rebound from yesterday's broad-based slide. However, the key indices hit their highs during the opening minutes of the day and have spent the entire first half in a slow retreat from those levels. As a result, the S&P 500 now sits roughly five points above its 200-day moving average (2,054).

Concerns surrounding Greece's future in the Eurozone remain at the forefront with the country missing today's EUR1.60 billion payment to the International Monetary Fund. Furthermore, all negotiations are now on hold, pending the outcome of Sunday's referendum in Greece. To that point, the euro slumped to lows after German Chancellor Angela Merkel said that Germany cannot consider new proposals until after Sunday's referendum. Currently, the single currency trades at 1.1140 against the dollar, down 0.6% for the day.

Five sectors continue holding midday gains with materials (+0.3%) and financials (+0.2%) trading ahead of other groups. However, like other sectors, the two leaders have backed away from their best levels of the day.

Elsewhere, the health care sector (+0.1%) remains just above its flat line thanks to strength in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 366.14, +5.57) trades higher by 1.5%, which has helped the Nasdaq stay ahead of the broader market.

That being said, the tech-heavy Nasdaq has not gotten much help from large cap names as Apple (AAPL 125.25, +0.72), Google (GOOGL 540.51, -0.74), and Intel (INTC 30.21, -0.18) trade in mixed fashion while the broader tech sector (-0.1%) hovers just below its flat line.

Over on the fixed income side, Treasuries have recovered their overnight losses and they now trade modestly higher with the 10-yr yield down a basis point at 2.31%.

Economic data included Chicago PMI, Consumer Confidence, and Case-Shiller 20-city Index:

The Chicago PMI increased to 49.4 in June from 46.2 in May while the Briefing.com consensus expected an increase to 50.0
According to the report, manufacturing activity in the Chicago region has contracted in 4 out of the last 5 months
The contraction in production eased in June, as the related index increased to 49.8 from 45.8 in May
Unfortunately, the contraction may not end next month as the Order Backlogs Index fell to 41.0 in June from 47.3 in May, which was the lowest reading since September 2009
The Conference Board's Consumer Confidence Index increased to 101.4 in June from a downwardly revised 94.6 (from 95.4) in May while the Briefing.com consensus expected an increase to 97.5
The Expectations Index increased to 94.6 in June from 86.2 in May while the Present Situation Index rose to 111.6 from 109.5
The Case-Shiller 20-city Home Price Index for April rose 4.9% against a 5.6% increase expected by the Briefing.com consensus
This followed the previous month's increase of 5.0%

12:25 pm: [BRIEFING.COM] Recent action saw the S&P 500 narrow its gain to 0.1%. The benchmark index held a 16-point gain at the start of the session, but a steady slide from the opening high has the index trading with just a fraction of its original gain as investors respond to the continued uncertainty in Europe.

With that in mind, Treasuries have returned into positive territory after holding a modest loss overnight. As a result, the 10-yr yield is now higher by a basis point at 2.32%.

Three of four countercyclical groups-consumer staples (-0.1%), telecom services (-0.3%), and utilities (-0.2%)-are now in negative territory while the health care sector (+0.2%) continues showing relative strength.
Related Quotes

11:55 am: [BRIEFING.COM] The S&P 500 (+0.3%) continues defending a modest gain while the Nasdaq Composite (+0.5%) outperforms slightly after showing relative weakness yesterday.

The high-beta biotechnology group has contributed to the strength in the Nasdaq, evidenced by a 1.7% increase in iShares Nasdaq Biotechnology ETF (IBB 366.81, +6.24). For its part, the health care sector is higher by 0.4% as it trades ahead of other countercyclical groups.

Meanwhile, large cap technology components like Apple (AAPL 125.56, +1.03), Google (GOOGL 541.09, -0.16), and Microsoft (MSFT 44.06, -0.31) trade in mixed fashion while chipmakers trade just ahead of the broader market. The PHLX Semiconductor Index has added 0.3%.

11:25 am: [BRIEFING.COM] The S&P 500 (+0.5%) has inched up off its recent levels and now sits in the middle of today's trading range.

All ten sectors have backed away from their early levels, but nine groups continue holding gains with the six cyclical sectors up between 0.3% (technology) and 0.7% (financials). Despite today's strength, the S&P 500 is on track to end the month lower by 1.9% with nine sectors tracking monthly losses. The consumer discretionary sector (+0.6%) outperforms today and is up 0.6% for the month while the remaining nine groups have given up between 0.3% (health care and financials) and 6.2% (utilities) since the end of May.

Elsewhere, Treasuries have erased the bulk of their losses, but the 10-yr yield remains higher by a basis point at 2.34%.

10:55 am: [BRIEFING.COM] Equity indices have spent the first 90 minutes of the day in a steady retreat from their opening highs. The S&P 500 remains higher by 0.3% with seven sectors trading in the green.

The energy sector (+0.4%) holds the lead while top-weighted groups like technology (unch) and health care (+0.1%) trade near their flat lines. Meanwhile, the financial sector (+0.3%) remains ahead of the broader market.

Looking at the bigger picture, the S&P 500 trades about six points above yesterday's closing level and is on track to end the month lower by 2.1%.

10:35 am: [BRIEFING.COM]

The dollar has traded positive all session, as investors have largely sought the dollar's safety in the midst of Greek-macro headline volatility
Strength in the index has put selling pressure on commodities so far this morning, which are also being weighed on by near-term economic uncertainty out of China and the Eurozone. The dollar is now +0.4% to 95.18
Oil lifted off of an early flatline, extending its rally above $59/barrel ahead of tomorrow's EIA inventory data release, and on sentiment surrounding today's Iranian nuclear talk deadlines (expected to be extended)
August WTI is currently +0.8% to $58.78/barrel, while August Nat gas is -1.5% to $2.76/MMBtu
Agricultural commodities have traded mixed so far this session, ahead of today's USDA Planted Acreage and Quarterly Grain Stocks reports (expected release at 11 AM ET)
Wheat and Corn are holding slight gains at -0.1% and +0.2% respectively, while Soybeans are trading at moderate losses, down 0.3%
Precious metals have been weighed on all morning by a stronger dollar, despite some support from risk-off trades associated with Greek headline volatility
August gold is currently -0.8% to $1169.90/oz and August silver is -1.2% to $15.50/oz
Copper is near today's lows at -1.5% to $2.59/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.4%.

The consumer confidence reading for June came in at 101.4 while economists polled by Briefing.com expected the survey to hit 97.5. This followed the prior month's revised reading of 94.6 (from 95.4).

9:45 am: [BRIEFING.COM] The major averages began the day on an upbeat note with the S&P 500 up 0.6%. The early advance has helped the benchmark index narrow its June decline to 1.8%.

Nine of ten sectors display early gains with health care (+0.9%), industrials (+0.9%), and financials (+0.9%) in the lead. Meanwhile, the top-weighted technology sector (+0.5%) trades a bit behind the broader market. On the flip side, the utilities sector (-0.1%) is the lone decliner in the early going.

Elsewhere, Treasuries have marked fresh session lows not long ago with the 10-yr yield now up three basis points at 2.36%.

Just released, the Chicago PMI for June rose to 49.4 from 46.2 while the Briefing.com consensus expected an increase to 50.0.

The Consumer Confidence report for June will cross the wires at 10:00 ET (expected 97.5).

9:12 am: [BRIEFING.COM] S&P futures vs fair value: +14.20. Nasdaq futures vs fair value: +28.20. The stock market is on track to reclaim a portion of yesterday's decline at the open as futures on the S&P 500 trade 14 points above fair value.

Index futures climbed throughout the night with the move accelerating after markets in Europe opened for action. Currently, the key indices there trade in mixed fashion with Italy's MIB (+0.7%) showing relative strength while UK's FTSE (-0.6%) lags. As expected, Greece did not make its EUR1.60 billion debt payment to the International Monetary Fund with the focus now turning to the country's referendum on Sunday, July 5. That being said, German Chancellor Angela Merkel reminded recently that Greece's current bailout program expires at midnight. Meanwhile, German Finance Minister Wolfgang Schaeuble said Greece could stay in the Eurozone even if Sunday's referendum produces a 'no' vote.

Domestically, the market looks poised to rebound from yesterday's selling that pressured the S&P 500 into the neighborhood of its 200-day moving average (2,053.5). The benchmark index has not tested that level since late October, ending yesterday's session roughly four points above that mark.

Unlike equity futures, Treasuries have retreated with the 10-yr yield climbing two basis points to 2.35%.

The Chicago PMI report for June (consensus 50.0) will be released at 9:45 ET while June Consumer Confidence will cross at 10:00 ET (expected 97.5).

9:01 am: [BRIEFING.COM] S&P futures vs fair value: +16.00. Nasdaq futures vs fair value: +32.20. The S&P 500 futures trade 16 points above fair value.

The Case-Shiller 20-city Home Price Index for April rose 4.9% against a 5.6% increase expected by the Briefing.com consensus. This followed the previous month's increase of 5.0%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +14.00. Nasdaq futures vs fair value: +29.80. The S&P 500 futures trade 14 points above fair value.

There were broad-based gains across markets in the Asia-Pacific region on Tuesday as Monday's sell-off triggered some bargain-hunting activity. China's Shanghai Composite led all comers. After enduring an early 5.1% decline that left the Composite down 26% from its June 12 peak, the market came roaring back and ended the session with a 5.5% gain as investors embraced the thought of the government and central bank doing more to prevent a continued market decline.

In economic data:
Japan's May Housing Starts +5.8% year-over-year (expected +5.8%; prior +0.4%), May Construction Orders -7.4% year-over-year (prior -12.1%), and Average Cash Earnings +0.6% year-over-year (expected +0.7%; prior +0.7%)
Hong Kong's M3 Money Supply +14.3% (prior +14.2%)
South Korea's May Industrial Production -1.3% month-over-month (expected -0.7%; prior -1.3%); -2.8% year-over-year (expected -2.0%; prior -2.6%), Retail Sales 0.0% month-over-month (expected +0.5%; prior +1.4%), and July Manufacturing BSI Index 67 (prior 74)
Australia's May HIA New Home Sales -2.3% month-over-month (prior +0.6%)
Singapore's May Bank Lending SGD 597.0 bln (prior SGD 594.3 bln)

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Japan's Nikkei increased 0.6% on broad-based gains that were led by the consumer non-cyclical (+1.2%) and communications (+0.9%) sectors. Individual standouts included Shionogi & Co (+7.8%), Aeon (+6.8%), and Nippon Paper Industries (+3.6%). Sony Corp (-8.3%) led all decliners. Out of the 225 index members, 134 ended higher, 77 finished lower, and 14 were unchanged.
Hong Kong's Hang Seng increased 1.1%, rallying in suit with a strong showing out of the mainland market. The financial sector (+0.8%) was an influential mover, yet gains were led by the energy (+1.4%) and basic materials (+1.3%) sectors. Leading gainers included China Resources Land (+4.1%), Bank of Communications (+4.1%), and Lenovo Group (+4.1%). Sands China (-2.1%) and Cathay Pacific Airways (-1.0%) were the only two stocks to decline at least 1.0%. Out of the 50 index members, 40 ended higher, 9 finished lower, and 1 was unchanged.
China's Shanghai Composite declined 5.1% shortly after the start of trading but came roaring back as the session progressed and ended the day up 5.5% (the market saw an 11.2% intraday swing from low to high). Reports attributed the turnaround to confidence in the prospect of the government and central bank taking more steps to prevent a stock market meltdown, including possibly halting IPOs. China's CSI 300 Index jumped 6.7% with the technology (+8.9%) and financial (+7.5%) helping to set the pace.

Major European indices trade in mixed fashion with UK's FTSE (-0.4%) in the red while Italy's MIB (+0.7%) outperforms. As expected, Greece did not make its EUR1.60 billion debt payment to the International Monetary Fund with the focus now turning to the country's referendum on Sunday, July 5. That being said, German Chancellor Angela Merkel reminded recently that Greece's current bailout program expires at midnight. Meanwhile, German Finance Minister Wolfgang Schaeuble said Greece could stay in the Eurozone even if Sunday's referendum produces a 'no' vote.

Economic data was plentiful:
Eurozone June CPI +0.2% month-over-month, as expected, while May Unemployment Rate held at 11.1%, as expected
Germany's June Unemployment Change -1,000 (consensus -5,000; prior -5,000) while the Unemployment Rate held at 6.4%. Separately, May Retail Sales +0.5% month-over-month (expected 0.2%; prior 1.3%); -0.4% year-over-year (consensus 2.8%; last 1.1%)
UK's Q1 GDP was revised up to 0.4% from 0.3% quarter-over-quarter, as expected. Separately, Q1 Business Investment +2.0% quarter-over-quarter (consensus 1.8%; last 1.7%) and Q1 Current Account deficit narrowed to GBP26.60 billion from GBP28.90 billion (expected deficit of GBP23.80 billion)
France's May Consumer Spending +0.1% month-over-month (expected -0.1%; prior 0.1%)
Italy's May PPI +0.2% month-over-month while June CPI +0.1% month-over-month, as expected. Separately, May Unemployment Rate held at 12.4% (consensus 12.3%)

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UK's FTSE remains lower by 0.4% as consumer names weigh. Tesco and Sainsbury are both down near 2.2% while utilities Centrica and United Utilities Group also lag with respective losses of 1.4% and 1.7%. On the upside, ARM Holdings is higher by 0.9% and Hikma Pharmaceuticals has climbed 1.0%.
In France, the CAC trades flat after erasing a morning loss. Financials BNP Paribas, Credit Agricole, and Societe Generale have contributed to the rebound with gains between 1.1% and 1.4%. Similar to UK, consumer names are also among the laggards in France with Carrefour, LVMH, and Pernod Ricard down between 0.9% and 2.0%.
Germany's DAX is higher by 0.2% with financials among the leaders. Commerzbank, Deutsche Bank, and Deutsche Boerse are up between 0.6% and 1.5%. On the downside, heavyweights Siemens, Merck, and SAP are down between 0.4% and 0.6%.
Italy's MIB has climbed 0.7% with Banca di Milano Scarl, Banco Popolare, UBI Banca, and Unicredit up between 2.0% and 3.5%.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +13.10. Nasdaq futures vs fair value: +26.40. U.S. equity futures trade higher amid mixed action overseas. The S&P 500 futures hover 13 points above fair value after hitting their best levels of the morning nearly three hours ago.

Meanwhile, U.S. Treasuries hover in the red with the 10-yr yield up nearly three basis points at 2.35%.

Today's economic data will include the 9:00 ET release of the April Case-Shiller 20-city Index (Briefing.com consensus 5.6%), June Chicago PMI (consensus 50.0), which will be reported at 9:45 ET, and Consumer Confidence for June, which will cross at 10:00 ET (expected 97.5).

In U.S. corporate news of note:

Apollo Education Group (APOL 14.00, -1.54): -9.9% after its below-consensus revenue and lowered guidance overshadowed better than expected earnings.
ConAgra (CAG 44.63, +1.20): +2.8% after reporting in-line results and outlining a new strategic direction.
Juno Therapeutics (JUNO 62.60, +16.30): +35.2% after announcing collaboration efforts with Celgene (CELG 113.50, -1.41) that include a purchase of Juno stock by Celgene.

Reviewing overnight developments:

Asian markets ended higher. Japan's Nikkei +0.6%, Hong Kong's Hang Seng +1.1%, and China's Shanghai Composite +5.5%
In economic data:
Japan's May Housing Starts +5.8% year-over-year (expected +5.8%; prior +0.4%), May Construction Orders -7.4% year-over-year (prior -12.1%), and Average Cash Earnings +0.6% year-over-year (expected +0.7%; prior +0.7%)
Hong Kong's M3 Money Supply +14.3% (prior +14.2%)
South Korea's May Industrial Production -1.3% month-over-month (expected -0.7%; prior -1.3%); -2.8% year-over-year (expected -2.0%; prior -2.6%), Retail Sales 0.0% month-over-month (expected +0.5%; prior +1.4%), and July Manufacturing BSI Index 67 (prior 74)
Australia's May HIA New Home Sales -2.3% month-over-month (prior +0.6%)
Singapore's May Bank Lending SGD 597.0 bln (prior SGD 594.3 bln)
In news:
Equities in China spiked off their overnight lows after it was reported China Securities Regulatory Commission will delay an IPO planned by China Nuclear Engineering

Major European indices trade in mixed fashion. UK's FTSE -0.4%, France's CAC -0.1%, and Germany's DAX is flat. Elsewhere, Italy's MIB +0.7% and Spain's IBEX +0.2%
Economic data was plentiful:
Eurozone June CPI +0.2% month-over-month, as expected, while May Unemployment Rate held at 11.1%, as expected
Germany's June Unemployment Change -1,000 (consensus -5,000; prior -5,000) while the Unemployment Rate held at 6.4%. Separately, May Retail Sales +0.5% month-over-month (expected 0.2%; prior 1.3%); -0.4% year-over-year (consensus 2.8%; last 1.1%)
UK's Q1 GDP was revised up to 0.4% from 0.3% quarter-over-quarter, as expected. Separately, Q1 Business Investment +2.0% quarter-over-quarter (consensus 1.8%; last 1.7%) and Q1 Current Account deficit narrowed to GBP26.60 billion from GBP28.90 billion (expected deficit of GBP23.80 billion)
France's May Consumer Spending +0.1% month-over-month (expected -0.1%; prior 0.1%)
Italy's May PPI +0.2% month-over-month while June CPI +0.1% month-over-month, as expected. Separately, May Unemployment Rate held at 12.4% (consensus 12.3%)
Among news of note:
As expected, Greece did not make its EUR1.60 billion debt payment to the International Monetary Fund with the focus now turning to the country's referendum on Sunday, July 5

5:51 am: [BRIEFING.COM] S&P futures vs fair value: +14.20. Nasdaq futures vs fair value: +29.30.

5:51 am: [BRIEFING.COM] Nikkei...20235.73...+125.80...+0.60%. Hang Seng...26250.03...+283.10...+1.10%.

5:51 am: [BRIEFING.COM] FTSE...6575.41...-45.10...-0.70%. DAX...11027.52...-55.70...-0.50%.

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
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