TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 7:47 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: June 1st Monday Trade Results - Profit $5222.50
PostPosted: Tue Jun 02, 2015 12:04 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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:
060115-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+5222.50.png
060115-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+5222.50.png [ 90.58 KiB | Viewed 326 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $160.00 dollars or +1.60 points, Emini ES ($ES_F) futures @ $5,062.50 dollars or +101.25 points, Light Crude Oil CL ($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 @ $5,222.50 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=2089

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.

-----------------------------

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.

Attachment:
060115-Key-Price-Action-Markets.png
060115-Key-Price-Action-Markets.png [ 1.12 MiB | Viewed 311 times ]

click on the above image to view today's price action of key markets


4:10 pm: [BRIEFING.COM] The stock market began June on a modestly higher note with the S&P 500 adding 0.2%.

Index futures spiked just before 7:00 ET, reacting to chatter that a deal between Greece and its creditors will be announced today. That rumor was struck down within 15 minutes of making the rounds, but equity futures did not retrace that morning spike until the cash market opened for action.

The major averages returned to their flat lines once the cash session began, but persistent relative strength among influential groups like health care (+0.4%), technology (+0.3%), consumer discretionary (+0.3%), and industrials (+0.4%) helped the market climb to a fresh high during the afternoon. However, it is worth noting that the Monday advance occurred amid light volume with just 665 million shares changing hands at the NYSE floor. As for Greece, the country is expected to be presented with a final proposal prepared by leaders from France, Germany, and the EU.

Eight sectors registered gains with industrials (+0.4%) ending atop the leaderboard thanks to a rebound in transport stocks. The Dow Jones Transportation Average rallied 1.1% with airlines pacing the move after the Chief Executive Officer of Southwest Airlines (LUV 37.85, +0.88) said the company plans to limit its seat capacity growth. Shares of LUV gained 2.4% while the Dow Jones Transportation Average narrowed its Q2 decline to 4.0%.

Elsewhere among cyclical sectors, consumer discretionary (+0.3%) and technology (+0.3%) also displayed relative strength with M&A activity underpinning the tech sector. Specifically, Altera (ALTR 51.68, +2.83) spiked 5.8% after agreeing to be acquired by Intel (INTC 33.90, -0.55) for $54/share in an all-cash transaction valued at $16.70 billion.

Overall, four of six cyclical sectors ended in-line with or ahead of the S&P 500 while energy (-0.2%) and materials (unch) struggled to keep pace. The energy sector was pressured in the early going by weakness in crude, but the sector narrowed its loss as the energy component also recovered its intraday decline, settling at $60.24/bbl.

Moving to the countercyclical side, consumer staples (unch) and telecom services (-0.5%) lagged throughout the session while health care (+0.4%) and utilities (+0.2%) registered gains. The health care sector finished among the leaders even as biotechnology spent the day among the laggards. The iShares Nasdaq Biotechnology ETF (IBB 364.81, -0.22) shed 0.1%.

Treasuries spent the day in a steady decline, sending the 10-yr yield higher by five basis points to 2.18%.

Economic data included Personal Income/Spending data, Core PCE Prices, Construction Spending, and the ISM Index:

Personal income increased 0.4% in April after being flat in March while the Briefing.com Consensus expected an increase of 0.3%
According to the wage data from the April employment report, aggregate earnings increased roughly 0.3%, which translated into a 0.2% increase in total employee compensation
Personal spending was flat in April after increasing an upwardly revised 0.5% (from 0.4%) in March while the consensus expected an increase of 0.2%
Core PCE prices rose 0.1% while the Briefing.com consensus expected a reading of 0.2%
Construction spending increased 2.2% in April after increasing an upwardly revised 0.5% (from -0.6%) in March while the Briefing.com consensus expected an increase of 0.8%
That was the largest monthly increase in construction spending since a similar gain in May 2012
The ISM Manufacturing Index increased to 52.8 in May from 51.5 in April while the consensus expected an increase to 51.9
Despite poor regional manufacturing reports, the national index showed a fairly well rounded acceleration in manufacturing activities

Tomorrow, the Factory Orders report for April (Briefing.com consensus 0.0%) will be released at 10:00 ET.

Nasdaq Composite +7.3% YTD
Russell 2000 +3.8% YTD
S&P 500 +2.6% YTD
Dow Jones Industrial Average +1.2% YTD

3:35 pm: [BRIEFING.COM]

WTI crude oil futures recovered in afternoon trade to erase most of its losses.
July crude ended today's session $0.02 lower at $60.24/barrel.
July nat gas gained $0.02 to $2.65/MMBtu
Precious metals lost steam following this morning's econ-driven surge
Aug gold ended today's session $1.60 lower to $1188.50/oz, while July silver fell $0.01 to $16.70/oz
Copper fell $0.01 today to $2.72/lb
Wheat futures surged higher today, closing 4% higher to $4.95/bushel ahead of the weekly USDA crop progress report

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.5% with one hour remaining in the session.

The benchmark index spent the first half of the trading day near its flat line, but rallied to a fresh high during the afternoon with influential sectors behind the move.

However, today's intraday trading volume has been well below average, suggesting the final NYSE floor volume will come in below the 200-day moving average of 770.7 million. The A/D line continues favoring the bulls with 1.6 names trading higher for each decliner.

2:30 pm: [BRIEFING.COM] Equity indices remain at their best levels of the day with the S&P 500 trading higher by 0.5%.

The health care sector (+0.7%) continues holding the lead, but other influential groups like consumer discretionary (+0.6%), industrials (+0.6%), and technology (+0.6%) follow right behind. Notably, the industrial sector has enjoyed a recent spike among transport stocks with the Dow Jones Transportation Average now up 1.0%.

Airlines were behind the move higher after Southwest Airlines' (LUV 38.03, +1.05) CEO said the company plans to limit its seat capacity growth. Shares of LUV trade higher by 2.8% while the Dow Jones Transportation Average has narrowed its Q2 decline to 4.2%.

1:55 pm: [BRIEFING.COM] The major averages hover near their session highs.

The desire for savings over spending returned in April.

Personal income increased 0.4% in April after being flat in March. The Briefing.com Consensus expected personal income to increase 0.3%.

Personal spending was flat in April after increasing an upwardly revised 0.5% (from 0.4%) in March. The consensus expected personal spending to increase 0.2%.

After a one-month respite, the personal savings rate again turned upward in April. Personal savings increased to 5.6% from 5.2% in March.

It will be difficult for economic growth to return to potential if consumers are unwilling to spend their income gains.

1:30 pm: [BRIEFING.COM] The major indices have ticked higher since our last update, with the Nasdaq currently outperforming, up 0.45%

A look inside the Dow Jones Industrial Average shows Microsoft (MSFT 47.69, +0.83), Wal-Mart (WMT 74.93, +0.66) and Disney (DIS 111.37, +1.00) are outperforming. Microsoft is up after announcing its next flagship operating system Windows 10 would be available July 29. Disney shares are up in the wake of a positive mention in Barron's, which said shares could gain 50% over the next three years.

Conversely, Intel (INTC 33.99, -0.47) is the worst-performing Dow component after officially confirming it will acquire chip maker Altera (ALTR 51.80, +2.95) for ~$16.7 bln.

To start out the week and June, the DJIA is up 0.4%, and currently up 1.45% YTD.

12:55 pm: [BRIEFING.COM] The major averages hold midday gains with the Russell 2000 (+0.6%) and Nasdaq Composite (+0.4%) trading ahead of the S&P 500 (+0.3%).

Prior to the open, index futures spiked to highs following rumors that a deal between Greece and its creditors will be announced today. That rumor was struck down within 15 minutes of making the rounds, but equity futures did not retrace that morning spike until the cash market opened for action.

The stock market spent the bulk of the morning near the unchanged level, but the key indices have returned to their opening highs not long ago with influential sectors powering the move. The top-weighted technology sector (+0.5%) is among the leaders with large cap names like Apple (AAPL 130.93, +0.65) and Microsoft (MSFT 47.43, +0.57) holding gains. Also of note, Altera (ALTR 51.82, +2.97) has surged 6.1% after agreeing to be acquired by Intel (INTC 33.99, -0.47) for $54/share in an all-cash transaction valued at about $16.70 billion.

Elsewhere, the health care sector (+0.5%) has also displayed relative strength even though biotechnology has struggled to keep pace with iShares Nasdaq Biotechnology ETF (IBB 365.48, +0.45) trading higher by 0.1%.

Similar to technology and health care, six other sectors hold midday gains while energy (-0.4%) and telecom services (-0.4%) hover in the red.

Treasuries spent the night near their flat lines, but a daylong retreat has the 10-yr note sitting on its low with the benchmark yield higher by five basis points at 2.17%.

Economic data included Personal Income/Spending data, Core PCE Prices, Construction Spending, and the ISM Index:

Personal income increased 0.4% in April after being flat in March while the Briefing.com Consensus expected an increase of 0.3%
According to the wage data from the April employment report, aggregate earnings increased roughly 0.3%, which translated into a 0.2% increase in total employee compensation
Personal spending was flat in April after increasing an upwardly revised 0.5% (from 0.4%) in March while the consensus expected an increase of 0.2%
Core PCE prices rose 0.1% while the Briefing.com consensus expected a reading of 0.2%
Construction spending increased 2.2% in April after increasing an upwardly revised 0.5% (from -0.6%) in March while the Briefing.com consensus expected an increase of 0.8%
That was the largest monthly increase in construction spending since a similar gain in May 2012
The ISM Manufacturing Index increased to 52.8 in May from 51.5 in April while the consensus expected an increase to 51.9
Despite poor regional manufacturing reports, the national index showed a fairly well rounded acceleration in manufacturing activities

12:25 pm: [BRIEFING.COM] Recent action saw the S&P 500 (+0.3%) climb into the neighborhood of its session high with help from influential sectors like consumer discretionary (+0.5%), financials (+0.4%), technology (+0.4%), and health care (+0.5%).

The consumer discretionary sector has received broad-based support with most retail names showing gains. Similarly, homebuilders trade higher across the board with iShares Dow Jones US Home Construction ETF (ITB 26.87, +0.25) up 0.9%.

Elsewhere, the health care sector has been underpinned by some of its largest components while biotechnology lags with iShares Nasdaq Biotechnology ETF (IBB 365.41, +0.38) trading higher by 0.1%.
Related Quotes

11:55 am: [BRIEFING.COM] Not much change in the market with the S&P 500 drifting near its flat line.

With the market trading little changed, it should not be too surprising that five sectors trade with gains while the other five hold losses.

Earlier today, Altera (ALTR 51.81, +2.96) confirmed that it will be acquired by Intel (INTC 33.94, -0.52) for $54/share in an all-cash transaction valued at about $16.70 billion. Shares of ALTR have spiked 6.1% in reaction to the news while the broader PHLX Semiconductor Index (-0.1%) hovers just below its flat line. For its part, the broader technology sector (+0.1%) also trades near its unchanged level.

11:30 am: [BRIEFING.COM] The major averages have returned above their flat lines, but they remain below their opening highs. The S&P 500 trades up 0.1% with heavily-weighted technology (+0.1%), financials (+0.3%), and health care (+0.4%) showing relative strength. In addition, the influential consumer discretionary sector (+0.4%) also appears among the advancers.

On the downside, telecom services (-0.4%) and materials (-0.4%) remain behind other groups while the more influential energy sector is lower by 0.2% amid a 1.2% decline in crude oil ($59.56/bbl).

The range-bound action in equities has been accompanied by selling in the bond market with Treasuries sliding to new lows to push the 10-yr yield up three basis points to 2.16%.

10:55 am: [BRIEFING.COM] The major averages have surrendered their opening gains and they now hover just below their flat lines. The Nasdaq Composite trades lower by 0.2% while the S&P 500 has given up 0.1%.

Only three sectors remain in the green with utilities (+0.3%) trading ahead of consumer discretionary (+0.1%) and health care (+0.1%). That being said, losses among the seven decliners have been limited to no more than 0.5%. The materials sector is the weakest performer, but the group represents just a small portion of the entire market. More notably, heavily-weighted technology (-0.1%) and industrials (-0.2%) trade near the broader market for the time being.

Elsewhere, Treasuries have slipped to fresh lows, pushing the 10-yr yield up to 2.15% (+2 bps).

10:40 am: [BRIEFING.COM]

The dollar index surged higher following the release of ISM and construction spending data
This helped cause oil to see some selling pressure, however, metals mostly held their gains
The dollar now stands +0.6% to 97.51
Crude oil is now back below $60 following the econ data and in combination with OPEC production/US shale rig shutdown sentiment
In most recent trade July oil is now slightly negative at -0.8% to $59.85/barrel
Precious metals traded in the red for a large part of the morning, however, following the spending and income econ data this morning, both precious metals rallied to new highs for today
However, the more recent econ data created some modest profit taking
August gold is now +0.9% to $1200.60/oz and +2.2% to $17.06/oz
Natural gas is trading near the unchanged mark, as cool weather forecasts have not given catalysts for price trends in either direction
The July contract is now -0.2% to $2.63/MMBtu
July Copper is now flat to $2.73/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.1%.

The ISM Index for May rose to 52.8 from 51.5 while the Briefing.com consensus expected an increase to 51.9.

Separately, Construction Spending increased 2.2% month-over-month in April while the Briefing.com consensus expected an increase of 0.8%.

9:40 am: [BRIEFING.COM] The stock market began the day on a modestly higher note with the Dow Jones Industrial Average (+0.3%) in the early lead while Nasdaq Composite (+0.2%) and S&P 500 (+0.1%) follow right behind.

Six of ten sectors display early gains with heavily-weighted health care (+0.5%), technology (+0.3%), and financials (+0.3%) holding the early lead. On the flip side, energy (-0.2%) and industrials (-0.1%) display slim losses.

Elsewhere, Treasuries hover just above their flat lines with the 10-yr yield down a basis point at 2.12%.

April Construction Spending (consensus 0.8%) and the May ISM Index (consensus 51.9) will both be reported at 10:00 ET.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +6.90. Nasdaq futures vs fair value: +19.70. The stock market is on track for a higher open as futures on the S&P 500 trade seven points above fair value. Index futures spent the early morning hours near their flat lines, but spiked to highs following rumors that a deal between Greece and its creditors will be announced today. However, that rumor was struck down within 15 minutes of making the rounds, but futures continue holding the bulk of their gains.

As for Greece, the country remains in limbo and is scheduled to make four payments totaling EUR1.60 billion to the International Monetary Fund this month, with the first one due Friday.

Domestically, Treasuries retreated on the rumors of a deal, but they returned to unchanged shortly thereafter. The 10-yr note is currently flat with its yield at 2.13%.

On the corporate front, Altera (ALTR 51.80, +2.95) has climbed 6.0% in pre-market after agreeing to be acquired by Intel (INTC 34.25, -0.21) for $54.00/share or $16.70 billion.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +6.80. Nasdaq futures vs fair value: +20.70. The S&P 500 futures trade seven points above fair value.

It was a relatively mixed showing on Monday from markets in the Asia-Pacific region. China's Shanghai Composite, however, wasted little time in trying to get back on track. It surged 4.7% to begin the week with participants again playing the policy stimulus trade as the HSBC Manufacturing PMI report showed the third straight sub-50 reading. A number below 50 denotes contraction.

In economic data:
Japan's Q1 Capital Spending +7.3% year-over-year (expected -0.1%; prior +2.8%) and May Manufacturing PMI 49.2 (expected 49.2; prior 49.1)
China's May HSBC Manufacturing PMI 49.2 (expected 49.2; prior 49.1), May Manufacturing PMI 50.2 (expected 50.2; prior 50.1), and May Non-Manufacturing PMI 53.2 (prior 53.4)
Australia's May AIG Manufacturing Index 52.3 (prior 48.0) and May MI Inflation Gauge +0.3% (prior +0.3%). Separately, Q1 Business Inventories +0.4% month-over-month (expected +0.1%; prior -0.8%), April Building Approvals -4.4% month-over-month (expected -2.0%; prior +2.9%), and April Private House Approvals +4.7% (prior +1.8%)
South Korea's May HSBC Manufacturing PMI 47.8 (expected 49.0; prior 48.8). Separately, May Trade Balance KRW 6.30 bln (expected KRW 6.20 bln; prior KRW 8.50 bln) as May Exports -10.9% year-over-year (expected -9.0%; prior -8.0%) and May Imports -15.3% year-over-year (expected -13.2%; prior -17.8%)
India's May HSBC Markit Manufacturing PMI 52.6 (expected 51.2; prior 51.3)

------

Japan's Nikkei eked out a 0.03% gain after trading in negative territory for most of Monday's session. The fractional gain was the twelfth consecutive increase for the Nikkei. The utilities (+1.9%) sector was the best-performing area while the consumer cyclical sector (-0.2%) lagged all others. Individual standouts included Nippon Suisan Kaisha (+4.6%), Teijin Ltd (+3.9%), and Tokyo Electric Power (+3.8%). Yahoo Japan (-3.2%) paced the decliners. Out of the 225 index members, 126 ended higher, 92 finished lower, and 7 were unchanged.
Hong Kong's Hang Seng increased 0.6%, following mainland shares higher. The advance was driven by the financial sector (+1.1%). The consumer cyclical sector (-2.1%) was the only sector to lose ground. Belle Intl. (+5.3%), Bank of Communications (+4.5%), and China Resources Power Holdings (+3.5%) were the best-performing issues. Galaxy Entertainment (-4.5%) and Sands China (-3.7%) led the decliners. Out of the 50 index members, 34 ended higher, 12 finished lower, and 4 were unchanged.
China's Shanghai Composite surged 4.7%. The rebound effort was fueled by renewed thoughts that more policy stimulus may soon be provided. That thinking was helped along by the HSBC Manufacturing PMI report, which at 49.2 was up a tick from March but still the third straight month of contraction. The diversified (+7.2%), utilities (+6.9%), and technology (+6.4%) sectors led the gains in the Chinese market on Monday where every sector gained at least 4.0%.

Major European indices trade mostly higher with France's CAC (+0.6%) in the lead. There has been no tangible progress with regards to Greece as the May 31 soft deadline passed without an agreement in sight. European indices did surge on a recent rumor that Greece has secured a deal with its creditors, but that rumor has been refuted shortly after surfacing.

Participants received several data points:
Eurozone May Manufacturing PMI 52.2 (consensus 52.3; previous 52.3)
Germany's May Manufacturing PMI 51.1 (expected 51.4; prior 51.4)
UK's May Manufacturing PMI 52.0 (expected 52.5; last 51.8)
France's May Manufacturing PMI 49.4 (consensus 49.3; last 49.3)
Italy's May Manufacturing PMI 54.8 (expected 53.6; previous 53.8)
Spain's May Manufacturing PMI 55.8 (consensus 54.8; last 54.2)
Swiss May SVME PMI 49.4 (expected 48.4; prior 47.9)

------

UK's FTSE is flat with consumer names in the lead. Compass Group, InterContinental Hotels, and Dixons Carphone are up between 1.7% and 2.0%. Miners lag with Anglo American, Fresnillo, and Glencore down between 1.0% and 1.7%
Germany's DAX has added 0.2% with heavyweights Daimler, SAP, and Siemens contributing to the strength. The three names have gained between 0.8% and 1.0%. Bank shares lag with Deutsche Bank and Commerzbank both down near 0.5%.
In France, the CAC has climbed 0.6% amid broad strength. Consumer and health care names outperform with Sanofi, L'Oreal, Danone, and Accor up between 1.3% and 2.1%. On the downside, Bouygues is the weakest performer, down 0.7%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +7.70. Nasdaq futures vs fair value: +22.70. The S&P 500 futures trade eight points above fair value.

April personal income rose 0.4% while the Briefing.com consensus expected an uptick of 0.3%. Meanwhile, personal spending was unchanged while the consensus expected an increase of 0.2%.

Core PCE prices rose 0.1% while the Briefing.com consensus expected a reading of 0.2%.

7:54 am: [BRIEFING.COM] S&P futures vs fair value: +9.40. Nasdaq futures vs fair value: +23.80. U.S. equity futures hover near their pre-market highs following a recent spike that followed rumors suggesting a deal between Greece and its creditors will be announced today. However, it is worth noting that similar reports have circulated in recent days and there has been no official confirmation as of yet. The S&P 500 futures hover nine points above fair value after spiking over the past 30 minutes.

Meanwhile, Treasuries hold modest losses with the 10-yr yield higher by two basis points at 2.14%.

Personal Income (Briefing.com consensus 0.3%)/Spending (consensus 0.2%) data for April and Core PCE Prices (expected 0.2%) will be released at 8:30 ET while April Construction Spending (consensus 0.8%) and the May ISM Index (consensus 51.9) will both be reported at 10:00 ET.

In U.S. corporate news of note:

Altera (ALTR 51.70, +2.85): +5.8% after the Wall Street Journal reported the company has agreed to be acquired by Intel (INTC 34.69, +0.23).
Citigroup (C 54.85, +0.77): +1.4% after Goldman Sachs upgraded the stock to 'Buy' from 'Neutral.'

Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite +4.7%, Hong Kong's Hang Seng +0.6%, and Japan's Nikkei ended flat.
In economic data:
Japan's Q1 Capital Spending +7.3% year-over-year (expected -0.1%; prior +2.8%) and May Manufacturing PMI 49.2 (expected 49.2; prior 49.1)
China's May HSBC Manufacturing PMI 49.2 (expected 49.2; prior 49.1), May Manufacturing PMI 50.2 (expected 50.2; prior 50.1), and May Non-Manufacturing PMI 53.2 (prior 53.4)
Australia's May AIG Manufacturing Index 52.3 (prior 48.0) and May MI Inflation Gauge +0.3% (prior +0.3%). Separately, Q1 Business Inventories +0.4% month-over-month (expected +0.1%; prior -0.8%), April Building Approvals -4.4% month-over-month (expected -2.0%; prior +2.9%), and April Private House Approvals +4.7% (prior +1.8%)
South Korea's May HSBC Manufacturing PMI 47.8 (expected 49.0; prior 48.8). Separately, May Trade Balance KRW 6.30 bln (expected KRW 6.20 bln; prior KRW 8.50 bln) as May Exports -10.9% year-over-year (expected -9.0%; prior -8.0%) and May Imports -15.3% year-over-year (expected -13.2%; prior -17.8%)
India's May HSBC Markit Manufacturing PMI 52.6 (expected 51.2; prior 51.3)
In news:
Lukewarm PMI readings in China stoked expectations for more easing from the People's Bank of China, leading to a rally in the Shanghai Composite

Major European indices hold gains. France's CAC +0.8%, Germany's DAX +0.6%, and UK's FTSE +0.2%. Elsewhere, Italy's MIB +0.5% and Spain's IBEX +0.8%.
Participants received several data points:
Eurozone May Manufacturing PMI 52.2 (consensus 52.3; previous 52.3)
Germany's May Manufacturing PMI 51.1 (expected 51.4; prior 51.4)
UK's May Manufacturing PMI 52.0 (expected 52.5; last 51.8)
France's May Manufacturing PMI 49.4 (consensus 49.3; last 49.3)
Italy's May Manufacturing PMI 54.8 (expected 53.6; previous 53.8)
Spain's May Manufacturing PMI 55.8 (consensus 54.8; last 54.2)
Swiss May SVME PMI 49.4 (expected 48.4; prior 47.9)
Among news of note:
European indices surged on the speculation that Greece has secured a deal with its creditors, but there has been no official confirmation yet. It is worth noting the country is scheduled to make four payments totaling EUR1.60 billion to the International Monetary Fund this month, with the first one due Friday

5:48 am: [BRIEFING.COM] S&P futures vs fair value: +0.70. Nasdaq futures vs fair value: -1.40.

5:48 am: [BRIEFING.COM] Nikkei...20569.87...+6.70...+0.00%. Hang Seng...27597.16...+173.00...+0.60%.

5:48 am: [BRIEFING.COM] FTSE...6974.68...-9.80...-0.10%. DAX...11372.61...-41.20...-0.40%.

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
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr