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 Post subject: June 11th Thursday Trade Results - Loss $0.00
PostPosted: Fri Jun 12, 2015 3:39 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $0.00 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=2097

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=265&t=2781 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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


4:10 pm: [BRIEFING.COM] The major averages ended Thursday on a modestly higher note with the S&P 500 (+0.2%) posting its third consecutive advance.

Equity indices rallied out of the gate, hitting their highs during the opening hour of action; however, the market was knocked back into the middle of its range after it was reported that International Monetary Fund representatives left Brussels for Washington due to insufficient progress between Greece and the creditors. Furthermore, IMF spokesman Gerry Rice stressed the continued presence of major differences, saying, "We are well away from an agreement."

The reports from Europe short-circuited the market's advance, but the S&P 500 remained above its 50-day moving average (2,102), which is a level the index reclaimed yesterday when Bloomberg reported that a staggered deal may be in the cards for Greece.

Seven of ten sectors registered gains while consumer staples (-0.1%) and energy (-0.4%) spent the day in the red. In addition, technology (-0.1%) turned negative during the afternoon.

The energy sector struggled as crude oil fell 1.0% to $60.74/bbl with dollar strength exerting pressure on the energy component. The Dollar Index (94.88, +0.24) climbed 0.3% with the greenback adding 0.4% against the euro (1.1274).

On the upside, countercyclical groups fared better than their growth-sensitive counterparts with health care (+0.5%), telecom services (+0.6%), and utilities (+0.7%) finishing ahead of the broader market. Large cap health care components outperformed from the start while biotechnology gathered strength as the day wore on. The iShares Nasdaq Biotechnology ETF (IBB 368.07, +2.24) gained 0.6%.

Over on the cyclical side, the industrial sector (+0.4%) ended ahead of its peers thanks to strength among transport stocks. The Dow Jones Transportation Average climbed 1.1% to extend its June advance to 1.8%. The broad-based advance was paced by railroad names with CSX (CSX 34.97, +1.00) rising 2.9%.

Elsewhere, the top-weighted technology sector (-0.1%) lagged throughout the day, which prevented the market from revisiting its early high. In general, large sector members fared relatively well, but Apple (APPL 128.59, -0.29), Google (GOOGL 550.04, -2.56), and Microsoft (MSFT 46.44, -0.17) posted losses while high-beta chipmakers also lagged with the PHLX Semiconductor Index shedding 0.1%.

Although the tech sector kept a lid on the market in the afternoon, a modest gain in the financial sector (+0.3%) prevented the S&P 500 from turning negative. Thanks to today's gain, the financial sector is now up 2.2% since the end of May.

Interestingly, financials outperformed today even as Treasuries spiked, dropping the benchmark 10-yr yield ten basis points to 2.39%.

Today's participation was in-line with yesterday's session as roughly 770 million shares changed hands at the NYSE floor.

Economic data included Initial Claims, Retail Sales, Import/Export Prices, and Business Inventories:

Weekly initial claims increased to 279,000 from an upwardly revised 277,000 (from 276,000) while the Briefing.com consensus expected an increase to 278,000
The four-week moving average inched up to 278,500 from 275,000
The continuing claims level increased to 2.265 million from an upwardly revised 2.204 million (from 2.196 mln) while the consensus expected a reading of 2.200 million
Retail sales increased 1.2% in May after increasing an upwardly revised 0.2% (from 0.0%) in April while the Briefing.com consensus expected an increase of 1.1%
As expected from the auto manufacturer reports, auto sales were strong in May, increasing 2.0%
Excluding autos, retail sales increased 1.0% in May after increasing an unrevised 0.1% in April while the consensus expected an increase of 0.7%
Export prices, excluding agriculture, increased 0.7% in May after decreasing 0.7% in the prior reading
Excluding oil, import prices were unchanged, which followed last month's 0.4% decline
Business inventories increased 0.4% in April after increasing an unrevised 0.1% increase in March while the Briefing.com Consensus expected an increase of 0.2%
The inventory changes from manufacturers (0.1%) and merchant wholesalers (0.4%) were known prior to the release. The only new information was that retailer inventories increased by 0.8% in April after increasing 0.3% in March

Tomorrow, May PPI (Briefing.com consensus 0.4%) will be released at 8:30 ET while the preliminary reading of the Michigan Sentiment Index for June will cross the wires at 10:00 ET (expected 91.5)

Nasdaq Composite +7.3% YTD
Russell 2000 +5.5% YTD
S&P 500 +2.4% YTD
Dow Jones Industrial Average +1.2% YTD

3:15 pm: [BRIEFING.COM]

The dollar finished positive on the session, influenced largely by sentiment surrounding the release of U.S. unemployment and retail sale data this morning.
The index saw a brief sell-off on the news' release, but quickly regained prior levels, and is now holding gains of 0.4% to end at 94.98
Crude traded in the red all day; bottoming mid-morning, then gradually climbing higher all session to finish at moderate losses.
Overall, the dollar's early strength and over-supply fears overwhelmed bearish sentiment for WTI, which closed -1% to $60.74/barrel
Natural gas inventory data was released mid-morning, showing a build of 111 bcf (on-par with expectations), which had little initial effect on the commodity
As the session progressed however, negative sentiment built surrounding the report and put selling pressure on the July contract, which ended the day down 2.1% to $2.83/MMBtu
Copper extended morning losses, driven primarily by economic data out overnight from China. Copper caught some support near the $2.66 level however, and ended down 2.9% to $2.67/lb
Precious metals traded largely on the dollar, whose strength weighed heaviest on gold. August gold closed -0.7% to $1180/oz while July silver closed -0.1% to $15.95/oz

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.3% with one hour remaining in the session. The benchmark index climbed out of the gate, but was knocked back from its high after it was reported that the IMF team tasked with negotiating the Greek deal headed back to Washington.

After that report crossed the wires, the S&P 500 cut its gain in half and has traded inside a narrow range since then.

Elsewhere, Treasuries have spent the afternoon in a steady advance, pressuring the 10-yr yield to 2.38% (-10 bps) going into the cash close.

2:25 pm: [BRIEFING.COM] Afternoon action continues in quiet fashion with the S&P 500 trading higher by 0.3%. Thanks to today's modest gain, the benchmark index is now up 0.9% for the week while the Dow Jones Industrial Average (+0.4%) has had a better showing. The price-weighted index outperforms today and is up 1.2% for the week.

All ten sectors are on track to end the week with gains, led by financials. The influential sector is higher by 0.4% today and up 1.6% for the week. Meanwhile, this week's second-best performing sector-health care-has climbed 1.4% since last Friday.

Elsewhere, Treasuries have extended their gains with the 10-yr yield down nine basis points at 2.39%.

1:55 pm: [BRIEFING.COM] The major averages continue holding modest gains.

Concerns about consumers' desire for more and more savings were alleviated for at least for one month as retail sales rebounded in May.

Retail sales increased 1.2% in May after increasing an upwardly revised 0.2% (from 0.0%) in April. The Briefing.com Consensus expected retail sales to increase 1.1%.

Excluding autos, retail sales increased 1.0% in May after increasing an unrevised 0.1% in April. The consensus expected these sales to increase 0.7%.

Core sales, which strip out the volatile auto dealers, building materials and supply stores, and gasoline stations, increased 0.6% in May after increasing 0.3% in April. These sales more closely reflect goods consumption growth in the GDP report than the headline.

According to the May employment report, aggregate earnings increased 0.5% in May. With sales outpacing income growth, the personal savings rate likely declined in May. That would go against a trend of higher savings that began several months ago.

If economic growth trends are going to return to pre-recession potential instead of the "New Normal" outlook, the personal savings rate will need to come down from its currently elevated level.

1:35 pm: [BRIEFING.COM] The major indices are unchanged since out last update, still sporting small gains for the day.

A look inside the Dow Jones Industrial Average shows that UnitedHealth Group (UNH 119.62, +1.57), Boeing (BA 142.91, +1.29), and Travelers (TRV 99.95, +0.77) outperforming. UnitedHealth is showing gains amid strong gains in the health care sector, while Boeing is up after Delta announced it would enter into an aircraft acquisition deal for 20 Embraer E190 aircraft and 40 additional new 737-900ERs. Boeing as well released its annual current market outlook, which projected demand for new planes over the next 20-year would reach $5.6 tln, which is a 3.5% increase over its report last year.

Conversely, Microsoft (MSFT 46.14, -0.47) is the worst-performing Dow component as tech underperforms the broad market rally.

For the week, the DJIA is up 1.14% after yesterday's strong rally.

In other developments, the $13 bln 30-year note auction was met with strong demand. It drew a high yield of 3.138% on a bid-to-cover ratio of 2.54

12:55 pm: [BRIEFING.COM] The major averages hold modest midday gains with the S&P 500 trading higher by 0.2%.

The benchmark index has spent the first half of today's action in the green, but was knocked down from its best level of the day after International Monetary Fund spokesman Gerry Rice said, referring to Greece, "We are well away from an agreement" and pointed out that major differences remain in place.

Although the comments from Mr. Rice have been met with some selling, the S&P 500 remains above yesterday's levels when it was reported that the institutions are close to offering Greece a staggered deal. Meanwhile, Treasuries have climbed to new highs for the day with the 10-yr yield down six basis points at 2.42%.

Eight sectors hold midday gains while energy (-0.1%) and consumer staples (-0.1%) hover in the red. The energy sector has lagged amid weakness in crude oil, which currently trades lower by 1.6% at $60.49/bbl.

On the upside, rate-sensitive telecom services (+0.5%) and utilities (+0.4%) hold the lead while another countercyclical group-health care (+0.4%)-also holds a solid gain.

Over on the cyclical side, continued strength in the financial sector (+0.3%) has extended the group's June gain to 2.2% while the industrial sector (+0.4%) outperforms thanks to transport stocks. The Dow Jones Transportation Average has climbed 1.0% with CSX (CSX 35.06, +1.09) up 3.2% to lead the index higher.

Also of note, the top-weighted technology sector lags with chipmakers under pressure. The PHLX Semiconductor Index is lower by 0.1%.

Economic data included Initial Claims, Retail Sales, Import/Export Prices, and Business Inventories:

Weekly initial claims increased to 279,000 from an upwardly revised 277,000 (from 276,000) while the Briefing.com consensus expected an increase to 278,000
The four-week moving average inched up to 278,500 from 275,000
The continuing claims level increased to 2.265 million from an upwardly revised 2.204 million (from 2.196 mln) while the consensus expected a reading of 2.200 million
Retail sales increased 1.2% in May after increasing an upwardly revised 0.2% (from 0.0%) in April while the Briefing.com consensus expected an increase of 1.1%
As expected from the auto manufacturer reports, auto sales were strong in May, increasing 2.0%
Excluding autos, retail sales increased 1.0% in May after increasing an unrevised 0.1% in April while the consensus expected an increase of 0.7%
Export prices, excluding agriculture, increased 0.7% in May after decreasing 0.7% in the prior reading
Excluding oil, import prices were unchanged, which followed last month's 0.4% decline
Business inventories increased 0.4% in April after increasing an unrevised 0.1% increase in March while the Briefing.com Consensus expected an increase of 0.2%
The inventory changes from manufacturers (0.1%) and merchant wholesalers (0.4%) were known prior to the release. The only new information was that retailer inventories increased by 0.8% in April after increasing 0.3% in March

12:25 pm: [BRIEFING.COM] Not much change in the market with the S&P 500 (+0.2%) trading inside a three-point range, which has been in effect for the past two hours or so.

Yesterday, the market powered higher with the three top-weighted sectors pacing the move. Today, two of those groups-financials (+0.4%) and health care (+0.4%)-also trade ahead of the benchmark index while the technology sector (unch) has struggled to keep pace. The group has recently turned negative in a move that saw shares of Apple (AAPL 129.00, +0.12) surrender their intraday gain.

Furthermore, high-beta chipmakers have contributed to the underperformance of the sector with the PHLX Semiconductor Index trading lower by 0.1%.
Related Quotes

11:55 am: [BRIEFING.COM] The major averages remain near their recent levels with the S&P 500 (+0.2%) holding a five-point gain.

The industrial sector (+0.4%) trades ahead of the remaining cyclical groups with transport stocks contributing to the relative strength. The Dow Jones Transportation Average is higher by 0.9% with all but two names holding gains. Rail carrier CSX (CSX 34.94, +0.97) leads the way with a 2.9% gain while shippers Kirby (KEX 76.62, -0.01) and Mattson (MATX 41.26, -0.04) trade just below their flat lines.

Elsewhere, Treasuries have extended their gains with the 10-yr yield now down six basis points at 2.42%.

11:25 am: [BRIEFING.COM] Equity indices continue holding modest gains with the S&P 500 trading higher by 0.2% with eight sectors in the green.

Yesterday, the benchmark index was propelled above its 50-day moving average (2,103) when it was reported that Greece may be in-line for a staggered deal that would allow for the disbursement of some bailout funds in exchange for a promise to fulfill one of the reforms sought by the creditors. However, today's comments from the International Monetary Fund suggest the two sides remain far apart.

Countercyclical telecom services (+0.6%) and utilities (+0.6%) hold the lead while most cyclical sectors trade near their flat lines while the consumer discretionary sector (+0.4%) outperforms.

10:55 am: [BRIEFING.COM] Recent action saw the major averages slip from their highs after International Monetary Fund spokesman Gerry Rice said, referring to Greece, "We are well away from an agreement" and pointed out that major differences remain in place.

The comments from Mr. Rice have knocked equities from their highs, but the market remains in positive territory, trading well above yesterday's levels when it was reported that the institutions are close to offering Greece a staggered deal.

Meanwhile, Treasuries returned to their morning highs in reaction to the commentary from the IMF with the 10-yr yield down four basis points at 2.44%.

10:35 am: [BRIEFING.COM]

The dollar has traded positive all morning, rising steadily from slightly positive overnight.
The release of US unemployment and retail sale data in early trade caused a quick sell-off in the index, which was shortly regained thereafter
Movements in the dollar are putting moderate selling pressure on most commodities so far this session, and the index is now holding gains at +0.6% to 95.20
Crude is currently trading in the red, on multiple catalysts that include a strong dollar, reports of strong OPEC production (by the EIA) and a reduced global economic growth forecast by the World Bank
WTI crude is currently -1.1% to $60.76/barrel
Natural gas price action was contained within a narrow band near the unchanged mark ahead of the release of EIA inventory data at 10:30 am ET
Upon release of the data, which showed a build of 111 bcf (vs. 111 consensus) Nat gas saw a modest reaction and is now -0.2% to $2.88/MMBtu
Copper has fallen steadily so far this session, primarily on underwhelming industrial production and retail sales data out of China. Copper is currently -2.6% to $2.68/lb
Precious metals have traded negative on dollar strength so far this morning, holding moderate losses in the most recent trade
August gold is -0.7% to $1178.30/oz and July silver is -0.3% to $15.91/oz

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

Just released, Business Inventories rose 0.4% in April while the Briefing.com consensus expected an increase of 0.2%. This followed the prior month's unrevised increase of 0.1%.

9:45 am: [BRIEFING.COM] The major averages have begun the trading day on a modestly higher note. The S&P 500 trades up 0.3% with all ten sectors in the green.

The utilities sector (+0.6%) is an early leader with today's decline in Treasury yields (10-yr yield -4 bps at 2.44%) giving a boost to the sector. Elsewhere, heavily-weighted technology (+0.4%), financials (+0.3%) and consumer discretionary (+0.4%) also display early strength.

Also of note, the energy sector hovers just above its flat line even as crude oil trades lower by 1.2% at $60.71/bbl.

The April Business Inventories report will be released at 10:00 ET (Briefing.com consensus 0.2%).

9:13 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +12.10. The stock market is on track for a modestly higher open as futures on the S&P 500 trade five points above fair value. Index futures respected narrow ranges throughout the night, but climbed to highs alongside European equities not long ago. That dynamic would suggest some progress on the Greek front, but on the contrary, the situation remains in flux. Strikingly, the advance to highs took place after European Council President Donald Tusk said, "I'm afraid the day is coming that someone says the game is over" and that a decision will be needed at next week's Eurogroup meeting.

U.S. Treasuries inched up following the remarks and they remain in the green with the benchmark 10-yr yield down four basis points at 2.44%.

On the economic front, weekly initial jobless claims increased to 279,000 from last week's 277,000 while the Briefing.com consensus expected a reading of 278,000. The Bureau of Labor Statistics did not cite any special factors in the report.

Separately, May retail sales surprised to the upside, rising 1.2% while the Briefing.com consensus expected an increase of 1.1%. The prior month's reading was revised up to 0.2% from 0.0%. Excluding autos, retail sales rose 1.0% while the consensus expected an increase of 0.7%.

Index futures essentially held their ground in reaction to the data and they have ticked up to new highs in recent action.

One more economic report remains on the schedule with the April Business Inventories report set to be released at 10:00 ET (Briefing.com consensus 0.2%).

On the corporate front, Dow component Nike (NKE 104.62, +1.28) has climbed 1.2% in pre-market after announcing a partnership with the National Basketball Association to provide all licensed apparel starting in 2017.

8:53 am: [BRIEFING.COM] S&P futures vs fair value: +4.70. Nasdaq futures vs fair value: +11.80. The S&P 500 futures trade five points above fair value.

Following Wall Street's lead from Wednesday, and responding to a batch of in-line data out of China, an encouraging employment report out of Australia, and rate cuts from central banks in South Korea (-25 bps to 1.50%) and New Zealand (-25 bps to 3.25%), markets in the Asia-Pacific region ended Thursday mostly higher, led by Japan's Nikkei (+1.7%).

In economic data:
China's May Retail Sales +10.1% year-over-year (expected +10.1%; prior +10.0%), May Fixed Asset Investment +11.4% year-over-year (expected +12.0%; prior +12.0%), May Industrial Production +6.1% year-over-year (expected +6.0%; prior +5.9%), May New Loans CNY 900.8 bln (expected CNY $900.0 bln; prior CNY 707.9 bln), and May M2 Money Stock +10.8% year-over-year (expected +10.5%; prior +10.1%)
Japan's Q2 BSI Large Manufacturing Conditions -6.0 (expected 3.2; prior 2.4)
Australia's May Employment Change +42,000 (expected +11,000; prior -13,700), May Unemployment Rate 6.0% (expected 6.2%; prior 6.1%), and MI Inflation Expectations 3.0% (prior 3.6%)

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Japan's Nikkei jumped 1.7%, bolstered by a weaker yen and Wall Street's gains on Wednesday. The advance was led by the consumer cyclical (+2.4%), consumer non-cyclical (+2.4%), and industrial (+1.8%) sectors. Nippon Kayaku (+5.5%), West Japan Railway (+5.3%), and Central Japan Railway (+5.2%) topped the list of winners. Unitika (-1.7%) led a small group of losers. Out of the 225 index members, 197 ended higher, 25 finished lower, and 3 were unchanged.
Hong Kong's Hang Seng increased 0.8% and closed near its best levels of the day, fueld by gains in the industrial (+3.0%), basic materials (+1.4%), communications (+1.3%), and financial (+0.8%) sectors. Cheung Kong Property Holdings (+3.7%), China Merchants Holdings Intl (+3.3%), and MTR Corp (+3.0%) led the gainers while China Resources Power Holdings (-3.1%) paced a small group of losers. Out of the 50 index members, 34 ended higher, 11 finished lower, and 5 were unchanged.
China's Shanghai Composite added 0.3% thanks to a 1.0% rally in the final hour of trading. The modest gain for the day followed a batch of economic data, which included retail sales, industrial production, and fixed asset investment, that was mostly in-line with expectations. The technology (+3.9%) and consumer non-cyclical (+1.4%) sectors were the big movers in the CSI 300 Index.

Major European indices trade higher across the board with Germany's DAX (+1.2%) in the lead. Several eurozone officials have stressed the urgency of reaching a deal with Greece in the next few days. For instance, European Council President Donald Tusk said, "I'm afraid the day is coming that someone says the game is over" and that a decision will be needed at next week's Eurogroup meeting. Strikingly, French and German equities climbed to new highs immediately following the remarks.

Economic data was limited:
French May CPI +0.2% month-over-month (expected 0.3%; prior 0.1%) while Q1 Nonfarm Payrolls 0.0% (expected -0.1%; prior -0.1%)

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UK's FTSE is higher by 0.5% with consumer names showing relative strength for the second consecutive day. Sainsbury, Tesco, Kingfisher, and WM Morrison Supermarkets are up between 1.1% and 2.3%. Miners lag with Antofagasta, Fresnillo, and Glencore down between 0.4% and 1.4%.
France's CAC trades up 1.1% with most listings in the green. LVMH is the top performer, up 2.7%, while other consumer names like Peugeot and Valeo trade with respective gains of 2.7% and 1.8%. On the downside, Alstom has plunged 7.1% amid reports EU regulators may look to block General Electric from acquiring Alstom's energy division.
Germany's DAX has climbed 1.2% with help from most components. Lanxess leads with a gain of 3.1% while financials Allianz, Deutsche Boerse, and Munich Re are up between 1.6% and 2.1%. Deutsche Lufthansa is the weakest performer, down 0.5%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +12.40. The S&P 500 futures trade four points above fair value.

The latest weekly initial jobless claims count totaled 279,000 while the Briefing.com consensus expected a reading of 278,000. Today's tally was above the revised prior week count of 277,000 (from 276,000). As for continuing claims, they rose to 2.265 million from 2.204 million.

May retail sales rose 1.2% while the Briefing.com consensus expected an increase of 1.1%. The prior month's reading was revised up to 0.2% from 0.0%. Excluding autos, retail sales rose 1.0% while the consensus expected an increase of 0.7%.

Export prices, excluding agriculture, increased 0.7% in May after decreasing 0.7% in the prior reading. Excluding oil, import prices were unchanged, which followed last month's 0.4% decline.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +7.10. U.S. equity futures trade near their flat lines after spending the night inside narrow ranges. The S&P 500 futures hover three points above fair value after maintaining a four-point range throughout the night.

This week has been very quiet on the economic front, but things will get a bit busier today with weekly Initial Claims (Briefing.com consensus 278K), May Retail Sales (consensus 1.1%), and May Import/Export Prices set to be reported at 8:30 ET while the April Business Inventories report (consensus 0.2%) will be released at 10:00 ET. Treasuries are little changed with the 10-yr yield at 2.49%.

In U.S. corporate news:

Krispy Kreme Doughnuts (KKD 18.30, +0.90): +5.2% after above-consensus earnings overshadowed disappointing revenue.
Men's Wearhouse (MW 63.00, +4.47): +7.6% after beating estimates and reaffirming its guidance. In addition, the company announced a partnership with Macy's (M 68.54, 0.00) and Kenneth Cole.
Nike (NKE 104.50, +1.16): +1.1% after announcing a partnership with the National Basketball Association to provide all licensed apparel starting in 2017.

Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite +0.3%, Hong Kong's Hang Seng +0.8%, and Japan's Nikkei +1.7%
In economic data:
China's May Retail Sales +10.1% year-over-year (expected +10.1%; prior +10.0%), May Fixed Asset Investment +11.4% year-over-year (expected +12.0%; prior +12.0%), May Industrial Production +6.1% year-over-year (expected +6.0%; prior +5.9%), May New Loans CNY 900.8 bln (expected CNY $900.0 bln; prior CNY 707.9 bln), and May M2 Money Stock +10.8% year-over-year (expected +10.5%; prior +10.1%)
Japan's Q2 BSI Large Manufacturing Conditions -6.0 (expected 3.2; prior 2.4)
Australia's May Employment Change +42,000 (expected +11,000; prior -13,700), May Unemployment Rate 6.0% (expected 6.2%; prior 6.1%), and MI Inflation Expectations 3.0% (prior 3.6%)
In news:
The Reserve Bank of New Zealand unexpectedly cut its main lending rate 25 basis points to 3.25%
The Bank of Korea also lowered its main lending rate 25 basis points to 1.50%, but this move was expected

Major European indices trade higher across the board. UK's FTSE +0.4%, France's CAC +0.8%, and Germany's DAX +1.0%. Elsewhere, Spain's IBEX +0.7% and Italy's MIB +0.9%
Economic data was limited:
French May CPI +0.2% month-over-month (expected 0.3%; prior 0.1%) while Q1 Nonfarm Payrolls 0.0% (expected -0.1%; prior -0.1%)
Among news of note:
Several eurozone officials have indicated that a deal with Greece will be reached in the next few days with Bundesbank President Jens Weidmann saying the risk of insolvency is increasing by the day
Standard & Poor's downgraded Greece to 'CCC' from 'CCC+' and warned the country is likely to default within the next year

5:47 am: [BRIEFING.COM] S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +4.90.

5:47 am: [BRIEFING.COM] Nikkei...20382.97...+336.60...+1.70%. Hang Seng...26907.85...+220.20...+0.80%.

5:47 am: [BRIEFING.COM] FTSE...6852.36...+22.20...+0.30%. DAX...11352.72...+86.30...+0.80%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

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