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 11:26 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: June 4th Thursday Trade Results - Profit $875.00
PostPosted: Fri Jun 05, 2015 4:02 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:
060415-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+875.00.png
060415-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+875.00.png [ 91.34 KiB | Viewed 337 times ]

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 @ $875.00 dollars or +17.50 points, Light Crude Oil CL ($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 @ $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=2092

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:
060415-Key-Price-Action-Markets.png
060415-Key-Price-Action-Markets.png [ 1.14 MiB | Viewed 318 times ]

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


4:10 pm: [BRIEFING.COM] The stock market finished the Thursday session on a lower note following a daylong retreat that sent the S&P 500 (-0.8%) below its 50-day moving average (2,100). As a result, the benchmark index will enter Friday down 0.5% for the week.

Equity indices struggled from the start as continued uncertainty surrounding Greece weighed on investor sentiment in Europe and the U.S. To that point, International Monetary Fund Managing Director, Christine Lagarde, voiced confidence that the troubled sovereign will make tomorrow's debt payment to the IMF. However, that contrasted with reports indicating Greece has requested permission to bundle all of its debt payments due this month into a single payment of about EUR1.60 billion to be paid on June 19. Meanwhile, Prime Minister Alexis Tsipras is scheduled to address the Greek parliament tomorrow evening.

In addition to commenting on Greece, Ms. Lagarde discussed the U.S., urging the Federal Reserve to delay its first rate hike until the first half of 2016. A lowered growth forecast was cited to support that argument with the IMF now expecting 2015 GDP growth of 2.5%, down from the previous forecast of 3.1%.

Treasuries marked fresh highs following the outlook change at the IMF, and built on their gains in the afternoon with the 10-yr yield falling six basis points to 2.31%. On a related note, the Dollar Index (95.49, +0.02) ended flat after erasing its overnight decline.

All ten sectors ended in the red with most growth-sensitive groups showing relative weakness. Energy (-1.2%) and materials (-1.3%) spent the bulk of the session behind other groups with energy pressured by a 2.8% drop in crude oil, which ended the pit session at $58.00/bbl ahead of tomorrow's semiannual OPEC meeting.

Elsewhere among cyclical sectors, industrials (-1.1%) and technology (-0.9%) also lost close to 1.0% apiece while the consumer discretionary sector (-0.7%) stayed ahead of the broader market thanks to mixed action among retail names. Teen apparel names rallied after Five Below (FIVE 37.77, +2.67) reported a one-cent beat and raised its guidance for the fiscal year. The stock spiked 7.6% while SPDR S&P Retail ETF (XRT 99.85, -0.09) shed 0.1%. Also of note, Dish Network (DISH 74.25, +3.44) jumped 4.9% after the Wall Street Journal reported the company has engaged in merger talks with T-Mobile US (TMUS 39.34, +1.01).

Moving to the countercyclical side, consumer staples (-0.8%), health care (-0.7%), and telecom services (-0.8%) settled near the broader market while the utilities sector (-0.2%) finished ahead of other groups thanks to today's drop in Treasury yields. The rate-sensitive sector extended this week's decline to 2.9%.

Today's participation was relatively strong when compared to recent averages as more than 710 million shares changed hands at the NYSE floor.

Economic data was limited to Initial Claims, Productivity/Unit Labor Cost Data, and Challenger Job Cuts:

The initial claims level declined to 276,000 for the week ending May 30 from an upwardly revised 284,000 (from 282,000) for the week ending May 23 while the Briefing.com consensus expected a drop to 280,000
Nonfarm productivity in the first quarter was revised down to -3.1% from an originally reported -1.9% in the advance release while the Briefing.com consensus expected a revision to -2.9%
As expected from the negative revisions in second estimate of first quarter GDP, output growth was revised down to show a decline of 1.6% in Q1 2015, down from a previously reported 0.3% decline
Hourly compensation was revised up to 3.3% from 3.1%. Combined with the decline in output, this caused a 6.7% increase in unit labor costs, up from the 5.0% reported in the preliminary reading
The Challenger Job Cuts report for May showed a 22.5% year-over-year decline to follow the previous 52.8% spike

Tomorrow, the Nonfarm Payrolls report for May (Briefing.com consensus 225K) will be released at 8:30 ET while the Consumer Credit report for April (consensus $16.80 billion) will cross the wires at 15:00 ET.

Nasdaq Composite +6.8% YTD
Russell 2000 +3.9% YTD
S&P 500 +1.8% YTD
Dow Jones Industrial Average +0.5% YTD

3:40 pm: [BRIEFING.COM]

WTI crude oil futures ended today's pit trading session lower, ahead of tomorrow OPEC meeting in Vienna
July crude ended $1.69 lower at $58.00/barrel
Natural gas futures ended the day flat at $2.63/MMBtu
Metals ended lower today
Aug gold fell $9.30 to $1175.20/oz, while July silver lost $0.36 to $16.11/oz
Copper fell $0.04 to $2.69/lb today

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.8% with one hour remaining in the session. After starting the day with a modest loss, the benchmark index tried returning to its flat line, but that effort failed and was followed by a steady retreat.

The S&P continued its slide into the afternoon with the selling pressure abating after the index slid below its 50-day moving average (2,100) where it remains at this juncture.

Today's selling has caused participants to demand downside protection, evidenced by the CBOE Volatility Index (VIX 15.10 +1.43), which has surged 10.5% to levels last seen at the start of May.

2:25 pm: [BRIEFING.COM] The major averages remain near their lows while Treasuries sit on their highs with the 10-yr yield down seven basis points at 2.30%.

Given its current level, the S&P 500 is testing the underside of its 50-day moving average (2,100) after slipping below that level shortly after 13:00 ET when it was reported that Greece has requested to bundle all of its debt payments to the IMF into a single payment that would be due on June 19.

Elsewhere, the Dollar Index (95.42, -0.04) remains near its flat lien after climbing off its overnight low.

1:55 pm: [BRIEFING.COM] Equity indices hover near their session lows.

A minor upward move in the initial claims level is nothing to be concerned about.

The initial claims level declined to 276,000 for the week ending May 30 from an upwardly revised 284,000 (from 282,000) for the week ending May 23. The Briefing.com Consensus expected the initial claims level to fall to 280,000.

Over the past couple of weeks, four-week average for initial claims has drifted upward. The level still remains near 15-year lows, however, and points to a labor market where businesses have severely cut back on layoffs.

1:30 pm: [BRIEFING.COM] The major indices are down big since our last update following the latest round of Greece headlines that the country has requested the IMF bundle its outstanding obligations.

A look inside the Dow Jones Industrial Average shows DuPont (DD 69.74, -1.53), Verizon (VZ 48.10, -0.98), and UnitedHealth Group (UNH 116.17, -2.18) are underperforming. DuPont is the weakest Dow component amid heavy industry weakness in Materials, which is the worst performing sector on the day.

Conversely, Goldman Sachs (GS 208.88, +0.59) is the best-performing Dow component, adding to yesterday's gains.

With today's decline, the DJIA is down 0.6% for the week

12:55 pm: [BRIEFING.COM] The major averages hover near their lows at midday with the Dow Jones Industrial Average (-0.7%) trading behind the S&P 500 (-0.6%) and Nasdaq Composite (-0.5%).

Equity indices have held losses since the opening bell with the lack of progress between Greece and its creditors weighing on investor sentiment. To that point, European markets also slumped, ending with losses close to 1.0% apiece.

Although nothing has changed with regard to Greece, International Monetary Fund Managing Director, Christine Lagarde, voiced confidence that the troubled sovereign will make tomorrow's debt payment to the IMF. Recall that the spokesman for Greece's Syriza party said Greece will not make the June 5 debt payment to the IMF if there is no prospect of a deal in the following days.

In addition to commenting on Greece, Ms. Lagarde urged the Federal Reserve to delay its first rate hike until the first half of 2016 and lowered the 2015 GDP growth forecast for the U.S. to 2.5% from 3.1%.

Treasuries marked fresh highs following the outlook change at the IMF, and they remain near their highs with the 10-yr yield down five basis points at 2.32%.

All ten sectors show midday losses with growth-sensitive materials (-1.2%) and energy (-0.9%) at the bottom of the leaderboard. Notably, the energy sector has slumped alongside crude oil, which trades lower by 2.8% at $57.99/bbl ahead of tomorrow's OPEC meeting.

Similar to energy and materials, most other cyclical groups trail the broader market while the consumer discretionary sector (-0.4%) trades ahead of the S&P 500. Retailers have fared relatively well with the SPDR S&P Retail ETF (XRT 99.96, +0.02) trading just above its flat line. Also of note, Dish Network (DISH 74.43, +3.62) has jumped 5.1% after the Wall Street Journal reported the company has engaged in merger talks with T-Mobile US (TMUS 39.93, +1.60).

Elsewhere, countercyclical sectors have fared a bit better, but consumer staples (-0.5%), health care (-0.5%), and telecom services (-0.4%) hover in the red while the utilities sector sits just above its flat line thanks to today's decline in Treasury yields. Still, the sector remains down 2.6% for the week.

Economic data was limited to Initial Claims, Productivity/Unit Labor Cost Data, and Challenger Job Cuts:

The initial claims level declined to 276,000 for the week ending May 30 from an upwardly revised 284,000 (from 282,000) for the week ending May 23 while the Briefing.com consensus expected a drop to 280,000
Nonfarm productivity in the first quarter was revised down to -3.1% from an originally reported -1.9% in the advance release while the Briefing.com consensus expected a revision to -2.9%
As expected from the negative revisions in second estimate of first quarter GDP, output growth was revised down to show a decline of 1.6% in Q1 2015, down from a previously reported 0.3% decline
Hourly compensation was revised up to 3.3% from 3.1%. Combined with the decline in output, this caused a 6.7% increase in unit labor costs, up from the 5.0% reported in the preliminary reading
The Challenger Job Cuts report for May showed a 22.5% year-over-year decline to follow the previous 52.8% spike

12:25 pm: [BRIEFING.COM] Equity indices remain near their session lows with the Dow Jones Industrial Average (-0.7%) trading behind the S&P 500 (-0.6%).

There hasn't been much change among the ten sectors with energy (-0.9%) and materials (-1.3%) remaining at the bottom of the leaderboard. Elsewhere among cyclical sectors, consumer discretionary (-0.3%), financials (-0.6%), and industrials (-0.7%) trade lower today, but the three groups remain in the green for the week with gains ranging from 0.4% (industrials and financials) to 0.9% (consumer discretionary).

Also of note, trading volume has been on the light side throughout the week and today's session is likely to fit that pattern since only 291 million shares have changed hands at the NYSE floor so far today.
Related Quotes

11:55 am: [BRIEFING.COM] Another round of new lows for the major averages has the S&P 500 trading lower by 0.6% with all ten sectors in the red.

The benchmark index entered today's session with a small week-to-date gain, but that has turned into a 0.3% loss since last Friday. Meanwhile, the Nasdaq Composite (-0.5%) remains higher by 0.1% for the week.

Biotechnology has contributed to the relative strength in the Nasdaq, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 364.76, -0.06), which trades flat even though the broader health care sector is lower by 0.5%.

Elsewhere, Treasuries have slipped from their highs, but they continue holding gains with the 10-yr yield down two basis points at 2.34%.

11:25 am: [BRIEFING.COM] Equity indices remain near their recent levels, but the past 30 minutes saw the S&P 500 (-0.4%) mark a fresh session low.

Just about every sector took a step back alongside the broader market, but utilities (+0.1%) remain in the green thanks to today's drop in Treasury yields (10-yr yield -3 bps at 2.33%). Furthermore, the countercyclical sector is rebounding after showing relative weakness in recent days. Despite today's uptick, the sector remains lower by 2.5% for the week, trading well behind other groups.

Moving to the cyclical side, the consumer discretionary sector (-0.2%) trades ahead of other growth-sensitive groups with retail names showing relative strength. The SPDR S&P Retail ETF (XRT 100.15, +0.21) has added 0.2%.

10:55 am: [BRIEFING.COM] The major averages have returned to their opening levels after slipping from their rebound highs. The S&P 500 is lower by 0.4% while the Nasdaq Composite (-0.2%) trades a bit ahead.

Nine sectors continue showing losses with growth-sensitive materials (-1.1%) and energy (-0.9%) trading behind the remaining eight groups. Notably, the energy sector has been pressured by a 2.2% decline in crude oil, which hovers near $58.33/bbl ahead of tomorrow's semiannual OPEC meeting.

Meanwhile, the remaining cyclical sectors trade closer to their flat lines with the consumer discretionary sector (-0.2%) trading ahead of the broader market. For its part, the top-weighted technology sector (-0.3%) trades just ahead of the S&P 500.

10:35 am: [BRIEFING.COM]

The dollar fell sharply overnight, largely on sentiment ahead of the morning release of US unemployment and labor economic data
Going into the release, the dollar traded slightly upward, and upon release, extended into a rally to erase its prior losses.
The index is now -0.1% to 95.37, with movements in the currency affecting oil, precious metals and copper
Crude hovered near the unchanged mark for most of early trade, but has been driven lower in most recent action on an interplay of OPEC meeting sentiment and movements in the dollar.
Reminder: Don't forget, OPEC will be meeting on Friday in Vienna (overnight in the US), which is likely to be a huge catalyst for oil prices
The July contract is near it LoD, currently -2.4% to $58.26/barrel
Natural gas saw a small sell-off to moderate negative territory, ahead of the release of weekly storage data by the EIA
Upon release of the storage data, Nat gas spiked to new highs for the session and is at -1.3% to $2.60/MMBtu
Precious metals are moderately down on the session, on pressure from a strengthening dollar.
August gold is currently -0.8% to $1175.90/oz and July silver is -1.6% to $16.23/oz
July Copper fell sharply overnight ahead of the release of US econ data, and has extended losses in recent trade to -0.7% to $2.71/lb

9:55 am: [BRIEFING.COM] The major averages have inched up off their worst levels of the morning, but the S&P 500 remains lower by 0.2%.

Shortly after the opening bell, the International Monetary Fund cut its 2015 GDP growth forecast for the U.S. to 2.5% from 3.1% and urged the Federal Reserve to hold off on its first rate hike until at least the first half of next year. The news appeared to have little immediate impact on stocks, but Treasuries have climbed to new highs with the 10-yr yield now down six basis points at 2.31%. For its part, the Dollar Index (95.32, -0.15) remains near its flat line after recovering the bulk of its overnight loss.

Nine sectors remain in the red while the utilities space (+0.1%) has turned positive.

9:40 am: [BRIEFING.COM] As expected, the major averages began the day in negative territory. The S&P 500 trades lower by 0.3% with all ten sectors showing early losses.

Two groups-telecom services (-1.1%) and materials (-1.1%)-are down more than 1.0% in the early going while heavily-weighted financials (-0.3%), consumer discretionary (-0.2%), technology (-0.2%), and health care (-0.3%) trade in-line with the broader market.

Treasuries remain near their best levels of the morning with the 10-yr yield down three basis points at 2.34%. Also of note, the Dollar Index (95.44, -0.03) has returned to its flat line after showing overnight weakness.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -19.30. The stock market is on track for a lower open with futures on the S&P 500 trading five points below fair value. Index futures held slim losses overnight, but the weakness intensified once markets in Europe opened for action. To little surprise, differences remain between Greece and its creditors as tomorrow's debt payment to the IMF nears.

Also of note, European bonds have continued their recent slide with Germany's 10-yr bund yield surging 14 basis points to 0.86%. Including today's move, the benchmark yield has surged 37 basis points since last Friday. Meanwhile, the U.S. 10-yr note has recovered its overnight loss and currently trades in the green with its yield down almost three basis points at 2.34%.

On the economic front, weekly Initial Claims decreased to 276,000 from a revised rate of 284,000 (from 282,000) while the Briefing.com consensus expected a reading of 280,000. Also of note, Q1 productivity data revealed a 3.1% decline (Briefing.com consensus -2.9%) while Q1 Unit Labor Costs increased 6.7% (Briefing.com consensus 5.9%).

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -20.30. The S&P 500 futures trade five points below fair value.

Sharply rising bond yields around the globe dampened bullish sentiment and pushed a number of markets in the Asia-Pacific region lower on Thursday. China's Shanghai Composite had an extraordinary session, losing as much as 5.4% at one point before rallying 6.5% over the final two hours of its trading session to end with a 0.8% gain. Reportedly, concerns about margin financing being curtailed contributed to the extreme volatility.

In economic data:
South Korea's Q1 GDP +0.8% month-over-month (expected +0.8%; prior +0.8%)
Australia's April Retail Sales 0.0% (expected +0.4%; prior +0.2%) and April Trade Balance AUD -3.888 bln (expected AUD -2.250 bln; prior AUD -1.231 bln) as Exports -6.0% (prior -2.0%) and Imports +4.0% (prior -2.0%)

------

Japan's Nikkei increased 0.1%, aided by strength in the financial sector (+1.1%). Dia-ichi Life Insurance (+6.3%), Ebara Corp (+4.4%), and T&D Holdings (+4.2%) led all gainers while SCREEN Holdings (-5.3%) and Tokyo Electric Power (-4.8%) paced the losers. Out of the 225 index members, 133 ended higher, 85 finished lower, and 7 were unchanged.
Hong Kong's Hang Seng declined 0.4% after being down as much as 2.0% earlier in the day. The consumer cyclical sector (+2.1%) was the only winning sector. The energy (-3.0%) and basic materials (-1.9%) sectors were the worst-performing areas. Top decliners included China Shenhua Energy (-5.7%), Cheung Kong Property Holdings (-5.5%), and CNOOC (-4.0%). Bank of Communications (+5.5%), Sands China (+4.8%), and Galaxy Entertainment (+3.3%) topped the list of winners. Out of the 50 index members, 18 ended higher, 31 finished lower, and 1 was unchanged.
China's Shanghai Composite had a wild ride, losing as much as 5.4% at one point before storming back in the final two hours of action to close with a 0.8% gain. Citing analysts it spoke to, CNBC said the selloff was triggered by reports of a brokerage house halting all margin financing on the start-up board Chinext and the potential that others could follow suit. For whatever reason, participants shook off the concerns and fueled an astounding 6.5% gain in the last two hours of trading action. The financial sector (+2.0%) was a key driver in the Chinese market on Thursday.

Major European indices trade lower across the board with UK's FTSE (-1.1%) leading the retreat. Differences remain between Greece and its creditors as tomorrow's debt payment to the IMF nears. Elsewhere, the Bank of England made no changes to its policy stance, keeping its interest rate and the purchase program at their respective 0.5% and GBP375 billion.

Economic data was limited:
Eurozone Retail PMI 51.4 (previous 49.5) o UK's May Halifax House Price Index -0.1% month-over-month (expected 0.3%; prior 1.6%); +8.6% year-over-year (consensus 8.5%; last 8.5%)
France's Unemployment Rate ticked down to 10.3% from 10.4% (expected 10.4%)

------

UK's FTSE has given up 1.1% with mining names on the defensive. Anglo American, BHP Billiton, Fresnillo, Glencore, and Randgold Resources are down between 2.1% and 2.8%. On the upside, select consumer names outperform with EasyJet, Kingfisher, J Sainsbury, and WM Morrison Supermarkets up between 0.5% and 1.7%.
Germany's DAX is lower by 1.0% with most components in the red. RWE is the weakest performer, down 3.0%, while heavyweights Daimler, Bayer, and BASF display losses between 1.3% and 1.8%.
In France, the CAC trades down 1.0% with all but one stock in the red. Energy-related names are among the laggards with Technip and Total both down near 2.1% apiece. Unibail-Rodamco is the lone advancer, trading up 0.1%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: -6.80. Nasdaq futures vs fair value: -24.60. The S&P 500 futures trade seven points below fair value.

The latest weekly initial jobless claims count totaled 276,000 while the Briefing.com consensus expected a reading of 280,000. Today's tally was below the revised prior week count of 284,000 (from 282,000). As for continuing claims, they fell to 2.196 million from 2.226 million.

Productivity data for the first quarter showed a decrease of 3.1%, which was worse than the 1.9% decrease that had been reported in the preliminary reading. It was also below the 2.9% decrease that had been expected by the Briefing.com consensus. Unit labor costs for the first quarter were revised higher to reflect an increase of 6.7% after they had reportedly increased 5.0% in the preliminary reading. Economists polled by Briefing.com had expected that unit labor costs would be revised up to 5.9%.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -5.80. Nasdaq futures vs fair value: -21.60. U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures hover six points below fair value after spending the entire night in negative territory.

The Challenger Job Cuts report for May showed a 22.5% year-over-year decline to follow the previous 52.8% spike.

Weekly Initial Claims (Briefing.com consensus 280K) and Q1 Productivity/Unit Labor Cost data will cross the wires at 8:30 ET.

Treasuries are little changed with the 10-yr yield at 2.36%.

In U.S. corporate news of note:

Ciena (CIEN 25.00, +0.56): +2.3% after beating earnings and revenue estimates.
T-Mobile US (TMUS 40.99, +2.66): +6.9% after the Wall Street Journal reported the company has engaged in merger talks with Dish Network (DISH 74.25, +3.44).
Verizon (VZ 48.32, -0.76): -1.6% after JP Morgan downgraded the stock to 'Neutral' from 'Overweight.'

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei +0.1%, China's Shanghai Composite +0.8%, and Hong Kong's Hang Seng -0.4%
In economic data:
South Korea's Q1 GDP +0.8% month-over-month (expected +0.8%; prior +0.8%)
Australia's April Retail Sales 0.0% (expected +0.4%; prior +0.2%) and April Trade Balance AUD -3.888 bln (expected AUD -2.250 bln; prior AUD -1.231 bln) as Exports -6.0% (prior -2.0%) and Imports +4.0% (prior -2.0%)
In news:
Australia's trade data showed that shipments to China in April hit their lowest monthly level since October 2012

Major European indices trade lower across the board. France's CAC -1.4%, Germany's DAX -1.2%, and UK's FTSE -1.2%. Elsewhere, Italy's MIB -0.8% and Spain's IBEX -0.9%
Economic data was limited:
Eurozone Retail PMI 51.4 (previous 49.5)
UK's May Halifax House Price Index -0.1% month-over-month (expected 0.3%; prior 1.6%); +8.6% year-over-year (consensus 8.5%; last 8.5%)
France's Unemployment Rate ticked down to 10.3% from 10.4% (expected 10.4%)
Among news of note:
The Bank of England made no changes to its policy stance, keeping its interest rate and the purchase program at their respective 0.5% and GBP375 billion
Differences remain between Greece and its creditors as tomorrow's debt payment to the IMF nears

5:52 am: [BRIEFING.COM] S&P futures vs fair value: -7.10. Nasdaq futures vs fair value: -29.10.

5:52 am: [BRIEFING.COM] Nikkei...20488.19...+14.70...+0.10%. Hang Seng...27551.89...-105.60...-0.40%.

5:52 am: [BRIEFING.COM] FTSE...6851.43...-99.00...-1.40%. DAX...11260.55...-159.10...-1.40%.

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 2 guests


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