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 9:18 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: June 9th Tuesday Trade Results - Profit $4187.50
PostPosted: Wed Jun 10, 2015 5:17 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:
060915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+4187.50.png
060915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+4187.50.png [ 31.3 KiB | Viewed 306 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 @ $4,187.50 dollars or +83.75 points, Light Crude Oil CL ($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 @ $4,187.50 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=2095

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.


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


4:10 pm: [BRIEFING.COM] The major averages ended the Tuesday session near their flat lines with the S&P 500 registering a slight gain (+0.04%) to snap its three-day skid while the Nasdaq Composite (-0.2%) settled in the red.

Equity indices slumped at the start with investor sentiment pressured by the continued lack of progress between Greece and its creditors. The ongoing uncertainty weighed on European markets, but they were able to climb off their lows into the close. Meanwhile, U.S. stocks hit their lows not long before Europe closed for the day before returning to their flat lines.

The ensuing rebound helped stocks turn positive during afternoon action, but the S&P 500 could not overtake its 100-day moving average (2,085), settling below that mark for the second consecutive day. Interestingly, this was the first time that the benchmark index registered back-to-back settlements below the 100-day average since late October.

Seven sectors registered losses, but only telecom services (-0.5%) surrendered more than 0.2%. Meanwhile, the top-weighted technology sector (-0.2%) struggled throughout the day and contributed to the underperformance of the Nasdaq. The tech sector suffered from losses among influential components like Apple (AAPL 127.42, -0.38), Google (GOOGL 542.16, -1.32), and Qualcomm (QCOM 66.84, -0.44) while high-beta chipmakers traded in mixed fashion, which was masked by a 0.1% decline in the PHLX Semiconductor Index. Micron (MU 25.19, -0.73) was a notable laggard, falling 2.8%, after Drexel Hamilton downgraded the stock to 'Sell' from 'Hold.'

Elsewhere among cyclical sectors, the consumer discretionary space (-0.1%) underperformed throughout the day with most homebuilders registering losses after Hovnanian (HOV 2.86, -0.31) reported disappointing results with its Chief Executive Officer saying the company had overestimated buyer demand. Shares of HOV fell 9.8% while iShares Dow Jones US Home Construction ETF (ITB 26.27, -0.11) surrendered 0.3%.

Staying on the earnings front, another discretionary component-Lululemon (LULU 68.27, +6.75)-spiked 11.0% after its one-cent beat overshadowed below-consensus guidance.

On the upside, consumer staples (+0.5%) and financials (+0.2%) ended in the lead after overtaking the energy sector (unch), which retreated from its opening high even as crude oil spiked 3.4% to $60.12/bbl. Greenback strength was not a factor as the Dollar Index ended flat.

Treasuries retreated throughout the day with the 10-yr note ending near its low to send its yield higher by two basis points to 2.41%.

Once again, today's participation was below average with roughly 700 million shares changing hands at the NYSE floor.

Economic data included Wholesale Inventories and JOLTS:

Wholesale inventories increased 0.4% in April following an upwardly revised 0.2% gain (from 0.1%) in March while the Briefing.com consensus expected an increase of 0.2%
Durable goods inventories increased 0.1% in April, down from a 0.5% increase in March
Gains in automotive (1.8%) and machinery inventories (0.7%) offset declines in professional equipment (-2.1%) and metals (-1.2%) inventories
Nondurable goods inventories increased 0.8% in April after declining 0.3% in March with much of the increase resulting from higher petroleum and gasoline prices, which helped boost petroleum inventories by 2.3% in April
The April Job Openings and Labor Turnover Survey showed that job openings increased to 5.376 million from a revised rate of 5.109 million (from 4.994 million)

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while the Treasury Budget for May (Briefing.com consensus -$85.00 billion) will cross the wires at 14:00 ET.

Nasdaq Composite +5.5% YTD
Russell 2000 +3.9% YTD
S&P 500 +1.0% YTD
Dow Jones Industrial Average -0.3% YTD

3:10 pm: [BRIEFING.COM]

The dollar index closed moderately lower, after trading in a narrow range around the unchanged mark for most of the session.
The index offered inconsistent and slight pressure/support for commodities, finishing down 0.1% to 95.19
Crude traded flat overnight, but finished positive on a strong, all-day rally driven by EIA US production forecasts
July WTI closed at +3.4% to $60.12/barrel
Natural gas held its earlier gains into the close, after lifting in early morning price action on intermediate term forecasts for warm national weather
Nat gas futures closed up 4.8% to $2.84/MMBtu
Precious metals saw a mixed close, as movements in the dollar failed to provide a definitive price trend for both gold or silver. August gold was +0.4% to $1177.60/oz and July silver was flat at $15.96/oz
Copper closed modestly positive at +0.4% to $2.71/lb

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.2% with one hour remaining in the session. The benchmark index slumped at the start, spending the day in a slow rebound off the early low. The index could still register its fourth consecutive decline, but it is likely to end the day above its session low as most heavily-weighted sectors hold gains going into the home stretch.

Despite the rebound, the S&P 500 has yet to make a sustained move above its 100-day moving average (2,085) after setting a session high just above that mark.

In our previous update, we mentioned that the White House Briefing room was evacuated, but that order has been reversed during the past 20 minutes or so. According to the Secret Service, the evacuation resulted from a threat made over the phone.

2:25 pm: [BRIEFING.COM] The S&P 500 (+0.2%) continues holding a slim gain while the Nasdaq is struggling to reclaim its flat line amid continued weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 361.72, -3.29) remains lower by 0.9%, but the technology sector has returned to its flat line, which has helped the Nasdaq narrow its decline.

At this time, the telecom services sector is lower by 0.3% while the remaining three decliners hold losses of no more than 0.1%. On the upside, the consumer staples sector has extended its gain to 0.7%.

On a separate note, Bloomberg has reported that the White House Briefing room has been evacuated, but no reason has been given as of yet.

1:55 pm: [BRIEFING.COM] The major averages remain near their flat lines.

Amid a strong increase in demand, wholesale inventories growth accelerated in April.

Wholesale inventories increased 0.4% in April following an upwardly revised 0.2% gain (from 0.1%) in March. The Briefing.com Consensus expected wholesale inventories to increase 0.2%.

Wholesale sales increased 1.6% in April after declining 0.3% in March. Large gains were recorded in farm products (7.4%), petroleum (4.9%), and automotive (3.2%) goods. The inventory-to-sales ratio fell to 1.29 in April from 1.30 in March.

1:30 pm: [BRIEFING.COM] The major indices have continued their move higher since our last update, trading near the high end of today's trading range

A look inside the Dow Jones Industrial Average shows Procter & Gamble (PG 79.14, +1.43), General Electric (GE 27.46, +0.22), and 3M (MMM 157.76, +1.17) are outperforming. Procter & Gamble shares are strong following a Reuters report suggesting that Henkel and Coty are considering bids for PG's beauty unit. GE shares are catching a bid after it confirmed it would sell its U.S. Sponsor Finance business and a $3 bln bank loan portfolio to Canada Pension Plan Investment Board in a transaction valued at ~$12 bln.

Conversely, Walt Disney (DIS 108.55, -0.74) is the worst-performing Dow component, having been dragged down by industry weakness in the consumer discretionary sector.

For the week, the DJIA is down 0.2%, and down 1.1% thus far in June.

In other developments, the $24 bln 3-year note auction at the top of the hour drew a high yield of 1.125% on a bid-to-cover ratio of 3.33.

12:55 pm: [BRIEFING.COM] The major averages trade near their flat lines at midday. The S&P 500 (+0.2%) hovers just above its unchanged level while the Nasdaq Composite (-0.2%) remains in negative territory.

Equity indices slumped at the start with the S&P 500 distancing itself from the 100-day moving average (2,085), which was violated yesterday afternoon. However, the early selling abated about an hour into the session, allowing the S&P 500 to reclaim its flat line amid gains in six sectors.

The consumer staples sector (+0.7%) has seized the lead not long ago, overtaking energy (+0.4%). Interestingly, the energy sector has backed away from its early high even though crude oil has extended its gain to 3.1% at $59.96/bbl. Similar to energy, three of the remaining five cyclical groups hold gains while technology (-0.2%) and consumer discretionary (-0.3%) lag.

The top-weighted technology sector underperforms for the second day in a row, but large cap tech names like Apple (AAPL 126.66, -1.14), Qualcomm (QCOM 66.86, -0.42), and Facebook (FB 80.38, -0.29) are responsible for today's weakness while chipmakers trade a bit ahead of the sector with the PHLX Semiconductor Index down 0.2%.

Meanwhile, another high-beta group-biotechnology-has contributed to Nasdaq's woes, evidenced by a 1.0% decline in iShares Nasdaq Biotechnology ETF (IBB 361.36, -3.65). For its part, the broader health care sector (unch) has been able to withstand the losses among biotech names.

Elsewhere, the consumer discretionary sector (-0.3%) has struggled amid broad weakness. Notably, homebuilders trade mostly lower after the Chief Executive Officer of Hovnanian (HOV 2.80, -0.36) said the company was too optimistic with its outlook. Shares of HOV trade lower by 12.0% in reaction to a disappointing earnings report while iShares Dow Jones US Home Construction ETF (ITB 26.26, -0.10) trades lower by 0.4%.

Switching gears, Treasuries retreated in the morning and they remain near their lows with the 10-yr yield up four basis points at 2.42%.

Economic data included wholesale inventories and JOLTS:

Wholesale inventories increased 0.4% in April following an upwardly revised 0.2% gain (from 0.1%) in March while the Briefing.com consensus expected an increase of 0.2%
Durable goods inventories increased 0.1% in April, down from a 0.5% increase in March
Gains in automotive (1.8%) and machinery inventories (0.7%) offset declines in professional equipment (-2.1%) and metals (-1.2%) inventories
Nondurable goods inventories increased 0.8% in April after declining 0.3% in March with much of the increase resulting from higher petroleum and gasoline prices, which helped boost petroleum inventories by 2.3% in April
The April Job Openings and Labor Turnover Survey showed that job openings increased to 5.376 million from a revised rate of 5.109 million (from 4.994 million)

12:25 pm: [BRIEFING.COM] Equity indices remain near their recent levels with the S&P 500 (+0.1%) holding a slim gain. The benchmark index has been able to erase its opening decline with relative ease, but extending its move off session lows has been a challenge.

The S&P 500 ended yesterday's session below its 100-day moving average (2,085), which is now an area of resistance. The benchmark index has violated the 100-day average on several occasions this year, but the index has always charged back. If the S&P 500 ends the day below that mark today, it will be the first time this year that the index registered two consecutive settlements below its 100-day average.
Related Quotes

11:55 am: [BRIEFING.COM] Not much change in the market with the S&P 500 (+0.1%) holding a slim gain while the Nasdaq Composite (-0.3%) remains in negative territory.

Eight sectors are now in the green while technology (-0.3%) and consumer discretionary (-0.1%) have yet to climb out of the red. The discretionary sector has been pressured by retail names with SPDR S&P Retail ETF (XRT 98.42, -0.29) trading lower by 0.3%. Similarly, homebuilders underperform after the Chief Executive Officer of Hovnanian (HOV 2.80, -0.36) said the company was too optimistic with its outlook. Shares of HOV trade lower by 12.0% while iShares Dow Jones US Home Construction ETF (ITB 26.29, -0.07).

11:25 am: [BRIEFING.COM] Recent action saw the S&P 500 tick back into positive territory while the Nasdaq Composite (-0.4%) remains pressured amid continued weakness in technology and biotechnology.

Conversely, six sectors hold gains with energy (+0.6%) and materials (+0.4%) in the lead. In addition, the consumer staples sector (+0.4%) also trades among the leaders while other countercyclical groups trade near their flat lines.

Today's leading sector-energy-remains supported by crude oil, which trades higher by 3.0% at $59.90/bbl.

On the downside, the technology sector (-0.4%) remains at the bottom of the leaderboard.

10:55 am: [BRIEFING.COM] The major averages remain in negative territory, but they have climbed off their lows. The S&P 500 (-0.1%) sits just below its flat line while the Nasdaq Composite (-0.6%) underperforms for the second day in a row.

Today's trading dynamic bears resemblance to yesterday's session when relative weakness in technology and biotechnology kept the Nasdaq Composite behind the broader market. High-beta chipmakers fared relatively well at the start of today's session, but the group now underperforms with the PHLX Semiconductor Index trading lower by 0.7%. Meanwhile, the broader technology sector trades in-line with chipmakers while four of the remaining five cyclical sectors hold gains with energy (+0.7%) in the lead.

Elsewhere, Treasuries sit near their session lows with the benchmark 10-yr yield up five basis points at 2.43%.

10:35 am: [BRIEFING.COM]

The dollar is currently trading near the unchanged mark, after a modest rally earlier has been erased by a pullback in recent trade
Movements in the dollar have been offering an inconsistent set of modest support and resistance to commodities so far this session.
The index is currently +0.2% to 95.50
Natural gas has steadily climbed from flat overnight, following last week's pullback and renewed forecasts for increasingly warm national weather
The July contract is holding strong gains, up by 4.4% to $2.82/MMBtu
Copper is trading near today's high, as dollar strength has abated and sentiment continues to build for stimulus out of China. July copper is now +1.2% to $2.73/lb
Crude oil traded slightly positive overnight, but has seen a steady climb to near this session's highs
WTI oil price action is being driven by several catalysts, including last night's EIA drilling productivity report that showed the US gov't forecasting a decline in shale production over the coming months.
Sentiment ahead of this afternoon's EIA Short Term Energy Outlook (normally released around noon ET) is also driving trading sentiment, with Crude now +3.1% to $59.95/barrel
Precious metals are holding steady near flat on the session, with August gold +0.2% to $1175.90/oz and July silver -0.2% to $15.94/oz

10:00 am: [BRIEFING.COM] The S&P 500 trades lower by 0.3%.

Just released, April wholesale inventories rose 0.4%, while the Briefing.com consensus expected an uptick of 0.2%. Today's report followed last month's revised increase of 0.2% (from 0.1%).

Separately, the April Job Openings and Labor Turnover Survey showed that job openings increased to 5.376 million from a revised rate of 5.109 million (from 4.994 million).

9:45 am: [BRIEFING.COM] As expected, the major averages began the trading day near their flat lines. The S&P 500 trades little changed with five sectors trading in the green.

Most notably, the energy sector (+0.9%) has received early support from a 2.9% spike in the price of crude oil, which hovers near $59.80/bbl. Meanwhile, the other commodity-related group-materials (+0.4%)-also trades ahead of the broader market.

On the downside, the technology sector trades lower by 0.4% after showing relative weakness yesterday. Large cap names like Apple (AAPL 126.68, -1.12) and IBM (IBM 163.45, -1.93) are both down near 1.0% while chipmakers trade just ahead of the sector with the PHLX Semiconductor Index down 0.2%.

The Wholesale Inventories report for April (Briefing.com consensus 0.2%) and the April Job Openings and Labor Turnover Survey will both be released at 10:00 ET.

9:13 am: [BRIEFING.COM] S&P futures vs fair value: -0.10. Nasdaq futures vs fair value: -8.60. The stock market is on track for a flat open as futures on the S&P 500 trade within a point of fair value.

Index futures held slim gains through the bulk of the night, but slumped to lows once markets in Europe retreated at the start; however, both U.S. futures and key European indices have climbed off their worst levels of the morning. Still, the S&P 500 will begin the Tuesday session below its 100-day moving average (2,085), which was violated yesterday afternoon.

The overnight session did not feature any notable developments with regard to Greece while corporate news has been scarce. On the earnings front, Lululemon (LULU 63.89, +2.37) has gained 3.9% after its one-cent beat overshadowed below-consensus guidance.

Treasuries hover in the red with the 10-yr yield up two basis points at 2.40%.

The Wholesale Inventories report for April (Briefing.com consensus 0.2%) and the April Job Openings and Labor Turnover Survey will both be released at 10:00 ET.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -1.70. Nasdaq futures vs fair value: -10.80. The S&P 500 futures trade two points below fair value.

Markets in the Asia-Pacific region were down across the board in reaction to Wall Street's weak showing on Monday and some disappointing inflation data out of China. Japan's Nikkei (-1.8%) led the majors lower with a stronger yen pressuring matters. The hardest hit regional markets were Indonesia and Philippines, which lost 2.3% and 2.2%, respectively.

In economic data:
China's May PPI -4.6% year-over-year (expected -4.5%; prior -4.6%) while May CPI -0.2% month-over-month (expected 0.0%; prior -0.2%); +1.2% year-over-year (consensus 1.3%; last 1.5%)
Japan's M2 Money Stock +4.0% year-over-year (expected 3.6%; last 3.6%) while May Household Confidence ticked down to 41.4 from 41.5 (expected 41.9)
Australia's May Home Loans +1.0% month-over-month (expected -2.0%; prior 1.5%) while May NAB Business Survey rose to 7 from 4.

------

Japan's Nikkei declined 1.8%, dropping nearly 1.0% in its final hour of trading and finishing at its lows for the day. The technology (-2.7%), financial (-2.3%), and consumer cyclical (-2.1%) sectors were the biggest drags. Leading laggards included Sumco Corp (-4.2%), Dia-Ichi Life Insurance (-4.1%), and T&D Holdings (-4.1%). Osaka Gas Co (+1.7%) topped the list of winners. Out of the 225 index members, 11 ended higher and 214 finished lower.
Hong Kong's Hang Seng declined 1.2%, following mainland shares lower and also finishing near its lows for the session. The financial sector (-1.3%) was the most influential weight on the index, although it had plenty of company. The only sector to end higher was the energy sector (+0.6%). China Merchants Holdings International (-4.3%) and Galaxy Entertainment (-3.7%) led the losers while China Shenhua Energy (+3.6%) was the only stock to gain more than 1.0%. Out of the 50 index members, 7 ended higher, 42 finished lower, and 1 was unchanged.
China's Shanghai Composite declined 0.4%, but recouped a significant portion of earlier losses with a 1.1% gain in its final hour of trading. The weakness followed the May CPI report, which was weaker than expected and showed a deceleration from the prior month. That news triggered some profit taking in the Shanghai Composite, which had risen 11.3% this month alone prior to Tuesday's session. The financial sector (-1.7%) was the weak link in the Chinese market on Tuesday.

Major European indices trade in the red, but they have climbed off their lows. Germany's DAX trails the region, trading lower by 0.8%. Elsewhere, Greece has reportedly submitted a revised proposal to its creditors, but it does not appear that the plan will be approved as it rehashes prior plans.

Participants received several data points:
Eurozone Q1 GDP rose 0.4% quarter-over-quarter, as expected
UK's April trade deficit narrowed to GBP8.56 billion from GBP10.70 billion (expected deficit of GBP9.90 billion)
Swiss May CPI +0.2% month-over-month (expected 0.1%; prior -0.2%) while May Unemployment Rate held at 3.3%, as expected

------

UK's FTSE remains lower by 0.2% with miners showing relative weakness for the second day in a row. Anglo American and Rio Tinto are both down near 2.0% apiece. Meanwhile, consumer names Diageo and International Consolidated Airlines Group hold gains close to 1.3%.
In France, the CAC trades down 0.2% with most names in the red. LVMH is the weakest performer, down 1.4%, while growth-sensitive Alstom (-1.2%) and Total (-1.0%) trade a little ahead. On the upside, Unibail-Rodamco leads with a gain of 1.6%.
Germany's DAX has given up 0.8% amid broad weakness. Infineon Technologies has tumbled 1.9% while Deutsche Post and Deutsche Telekom are down 1.2% and 1.6%, respectively. On the upside, Continental and Deutsche Lufthansa outperform with gains close to 1.1% apiece.
Spain's IBEX trades ahead of the region with a slim loss of 0.1%. Abengoa, ACS, FCC, and Sacyr have added between 0.8% and 4.1% with Sacyr in the lead after selling some of its assets.

8:24 am: [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -9.60. U.S. equity futures remain modestly lower, but like their European counterparts, they have climbed off their worst levels of the morning. Still, S&P 500 futures remain two points below fair value, which puts the benchmark index on track for a modestly lower start after ending yesterday below its 100-day moving average (2,085) for the first time since March 26.

Furthermore, yesterday's decline represented the third consecutive decline for the benchmark index, placing it not far above the May low of 2,067.93.

Elsewhere, Treasuries continue holding slim losses with the 10-yr yield at 2.39% (+1 bp).

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -8.20. U.S. equity futures trade modestly lower amid cautious action overseas. The S&P 500 futures hover two points below fair value after slipping from pre-market highs at the start of the European session.

Similar to equity futures, Treasuries hold slim losses with the 10-yr yield up one basis point at 2.39%.

The Wholesale Inventories report for April (Briefing.com consensus 0.2%) and the April Job Openings and Labor Turnover Survey will both be released at 10:00 ET.

In U.S. corporate news of note:

HD Supply Holdings (HDS 33.25, +0.80): +2.5% after beating bottom-line estimates.
Lululemon (LULU 63.68, +2.16): +3.5% after its one-cent beat overshadowed below-consensus guidance.
Pep Boys (PBY 11.15, +0.58): +5.5% despite missing revenue expectations.
United Natural Foods (UNFI 59.00, -4.66): -7.3% after missing earnings/revenue estimates and guiding lower.

Reviewing overnight developments:

Asian markets ended lower. China's Shanghai Composite -0.4%, Hong Kong's Hang Seng -1.2%, and Japan's Nikkei -1.8%
In economic data:
China's May PPI -4.6% year-over-year (expected -4.5%; prior -4.6%) while May CPI -0.2% month-over-month (expected 0.0%; prior -0.2%); +1.2% year-over-year (consensus 1.3%; last 1.5%)
Japan's M2 Money Stock +4.0% year-over-year (expected 3.6%; last 3.6%) while May Household Confidence ticked down to 41.4 from 41.5 (expected 41.9)
Australia's May Home Loans +1.0% month-over-month (expected -2.0%; prior 1.5%) while May NAB Business Survey rose to 7 from 4.
In news:
MSCI is expected to announce the addition of China's 'A' shares into the Emerging Markets Index soon

Major European indices trade lower across the board. UK's FTSE -0.2%, France's CAC -0.2%, and Germany's DAX -0.7%. Elsewhere, Italy's MIB -0.1% and Spain's IBEX -0.1%
Participants received several data points:
Eurozone Q1 GDP rose 0.4% quarter-over-quarter, as expected
UK's April trade deficit narrowed to GBP8.56 billion from GBP10.70 billion (expected deficit of GBP9.90 billion)
Swiss May CPI +0.2% month-over-month (expected 0.1%; prior -0.2%) while May Unemployment Rate held at 3.3%, as expected
Among news of note:
Greece has reportedly submitted a revised proposal to its creditors, but it does not appear that the plan will be approved as it rehashes prior plans

5:47 am: [BRIEFING.COM] S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -16.60.

5:47 am: [BRIEFING.COM] Nikkei...20096.30...-360.90...-1.80%. Hang Seng...26989.52...-326.80...-1.20%.

5:47 am: [BRIEFING.COM] FTSE...6766.62...-23.20...-0.30%. DAX...10932.41...-132.50...-1.20%.

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 5 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