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 Post subject: June 23rd Tuesday Trade Results - Loss $500.00
PostPosted: Wed Jun 24, 2015 2:41 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 @ ($500.00) dollars or -10.00 points, Light Crude Oil CL ($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 Loss @ ($500.00) 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=2105

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 the Tuesday session on a modestly higher note after spending the bulk of the day near their flat lines. The S&P 500 added 0.1% after trading inside an eight-point range.

Equity indices held modest gains at the start amid continued optimism that Greece will be able to come to terms with its creditors. On that note, the Eurogroup will hold its third meeting in six days tomorrow evening. In addition, better than expected Manufacturing (52.5; consensus 52.2) and Services PMI (54.4; consensus 53.6) readings for the eurozone contributed to the upbeat sentiment overseas.

Once the U.S. session got underway, the S&P 500 held a four-point gain, but surrendered that advance just one hour into the session as heavily-weighted sectors like technology (unch), industrials (-0.2%), and consumer staples (-0.5%) weighed.

The top-weighted technology sector was able to erase the majority of its loss before the final hour, but chipmakers struggled into the afternoon. The PHLX Semiconductor Index lost 0.6% with all but six components ending in the red. On the upside, SunEdison (SUNE 32.13, +0.93) bucked the trend, spiking 3.0%.

Elsewhere, the consumer discretionary sector was underpinned by retailers and homebuilders. The SPDR S&P Retail ETF (XRT 101.69, +0.92) climbed 0.9% while iShares Dow Jones US Home Construction ETF (ITB 27.70, +0.05) added 0.2% following a better than expected New Home Sales report for May.

Also of note, the energy sector (+0.3%) struggled early, but finished among the leaders as crude oil held a solid gain throughout the day, ending the pit session higher by 1.7% at $61.02/bbl.

Similar to cyclical sectors, the four defensively-oriented groups ended the day in mixed fashion. Consumer staples (-0.5%) and utilities (-1.4%) struggled while health care (+0.2%) and telecom services (+1.3%) displayed relative strength. The health care sector eked out a slim gain even as biotechnology struggled with iShares Nasdaq Biotechnology ETF (IBB 383.25, +0.08) ending flat.

Moving on, Treasuries were little changed during afternoon action, but retreated this morning after Federal Reserve Governor Jerome Powell said that two rate hikes could take place before the end of the year if the economy doesn't suffer an unexpected slump. The 10-yr note revisited its flat line during the afternoon, but ultimately slipped into the middle of its range to send the benchmark yield higher by three basis points to 2.40%.

On a related note, the Dollar Index (95.40, +1.07) spiked 1.1% with the greenback jumping 1.6% against the euro (1.1170).

Today's participation was below average with fewer than 700 million shares changing hands at the NYSE floor.

Economic data included Durable Orders, FHFA Housing Price Index, and New Home Sales:

Durable goods orders declined 1.8% in May after declining a downwardly revised 1.5% (from -1.0%) in April while the Briefing.com consensus expected a decline of 0.5%
As expected, the entire decline can be traced to another big pullback in aircraft orders as Boeing (BA 144.43, -1.27) reported a big drop in sales in May, which translated into a 28.9% decline in defense and nondefense aircraft orders
Motor vehicle orders were flat after increasing 0.4% in April
Excluding transportation, durable goods orders increased 0.5% in May after a 0.3% decline in April (revised from -0.2%) while the consensus expected an increase of 0.6%
The FHFA Housing Price Index for April rose 0.3%, which followed an unrevised increase of 0.3% in March
New home sales hit their highest level since February 2008, increasing 2.2% in May to 546,000 from an upwardly revised 534,000 (from 517,000) in April while the Briefing.com consensus expected a reading of 525,000
Regionally, there was a big disparity in demand trends with nearly the entire increase coming from an 87.5% spike in sales in the Northeast. Sales in the Midwest (-5.7%) and South (-4.3%) declined on a month-to-month basis. Sales in the West increased 13.1% to 138,000, but remain below January levels

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while the third estimate of Q1 GDP will be reported at 8:30 ET (Birefing.com consensus -0.2%).

Nasdaq Composite +9.0% YTD
Russell 2000 +7.5% YTD
S&P 500 +3.1% YTD
Dow Jones Industrial Average +1.8% YTD

3:40 pm: [BRIEFING.COM]

The dollar index traded higher today, which helped weigh on select commodities.
Energy was strong in morning action, oil futures held gains following morning strength, while natural gas futures erased all of its gains and is now unchanged at $2.73/MMBtu
Aug crude oil ended today's session +1.01% at $61.02/barrel.
July nat gas lost $0.01 to $2.72/MMBtu
Aug gold fell $7.70 today to $1176.70/oz, while July silver really underperformed, losing 2.4% to $15.75/oz
Despite the strong dollar index, copper futures rose $0.04 to $2.61/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.1% with one hour remaining in the session. The benchmark index has spent the bulk of today's affair near its flat line, but was able to inch up from its recent levels as the health care sector (+0.1%) returned into positive territory.

In addition to the recent uptick in health care, heavily-weighted energy (+0.4%), financials (+0.4%), and consumer discretionary (+0.4%) enter the final hour near their session highs.

Elsewhere, Treasuries have returned into negative territory with the 10-yr note trading in the middle of today's range and its yield higher by three basis points at 2.40%.

2:25 pm: [BRIEFING.COM] Afternoon action continues with the key indices drifting near their flat lines. All in all, today's session has been very quiet with the S&P 500 returning to its flat line one hour after the opening bell. Since then, the benchmark index has traded within three points of its flat line.

Growth-sensitive financials (+0.3%) and consumer discretionary (+0.3%) have built on their early gains while another cyclical group-energy (+0.4%)-has been climbing throughout the afternoon. The sector has received support from crude oil, which trades higher by 1.2% at $61.07/bbl with the pit session about to end for the day.

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

New home sales increased 2.2% in May to 546,000 from an upwardly revised 534,000 (from 517,000) in April. The Briefing.com Consensus pegged new home sales at 525,000.

That was the most new homes sold since February 2008. New home sales are measured by signed contracts and not actual closing. Buyers likely took notice of the increase in 10-year Treasury yields that began at the very end of April. With mortgage rates heading higher, buyers signed contracts to take advantage of relatively low interest rates.

A similar bump in sales is likely to be reported in the June existing home sales report.

1:30 pm: [BRIEFING.COM] The major indices continue to float around base levels for the day, up slightly since our last update.

A look inside the Dow Jones Industrial Average shows UnitedHealth Group (UNH 122.18, +1.93), JP Morgan (JPM 69.52, +0.56), and Goldman Sachs (GS 218.19, +1.68) are outperforming. The latter are enjoying strong gains amid industry strength in financials as interest rates continue to climb.

Conversely, DuPont (DD 68.72, -1.27) is the worst-performing Dow component amid broad weakness in the materials sector.

Despite today's lackluster action, the DJIA has started off the week with gains of 0.6%.

12:55 pm: [BRIEFING.COM] The stock market holds a slim midday loss with the S&P 500 (-0.1%) trading just ahead of the Nasdaq Composite (-0.2%).

Equity indices held modest gains at the start of the session amid strength in Europe where hopes remain high that Greece will be able to secure a debt deal with its creditors. In addition, better than expected PMI readings also contributed to the overseas strength.

However, the upbeat open has been followed by a retreat into the red with six sectors showing midday losses. Notably, the top-weighted technology sector is lower by 0.2% while high-beta chipmakers display larger losses, evidenced by a 0.8% decline in the PHLX Semiconductor Index.

Elsewhere among cyclical sectors, industrials (-0.2%) and materials (-0.3%) underperform while consumer discretionary (+0.2%), energy (+0.1%), and financials (+0.2%) outperform.

The discretionary sector has been boosted by homebuilders after the New Home Sales report for May beat estimates (546K; Briefing.com consensus 525K). The iShares Dow Jones US Home Construction ETF (ITB 27.69, +0.04) trades higher by 0.1%.

Meanwhile, the financial sector has likely benefitted from increased rate hike expectations after Federal Reserve Governor Jerome Powell said that two rate hikes could take place before the end of the year if the economy doesn't suffer an unexpected slump. Treasuries retreated immediately following the remarks, but they have reclaimed the bulk of their losses with the 10-yr yield remaining higher by a basis point at 2.39% after hitting a session high near 2.42%. Furthermore, the Dollar Index (95.38, +1.05) hit a new session high shortly after Mr. Powell's comments crossed the wires.

Economic data included Durable Orders, FHFA Housing Price Index, and New Home Sales:

Durable goods orders declined 1.8% in May after declining a downwardly revised 1.5% (from -1.0%) in April while the Briefing.com consensus expected a decline of 0.5%
As expected, the entire decline can be traced to another big pullback in aircraft orders as Boeing (BA 144.11, -1.59) reported a big drop in sales in May, which translated into a 28.9% decline in defense and nondefense aircraft orders
Motor vehicle orders were flat after increasing 0.4% in April
Excluding transportation, durable goods orders increased 0.5% in May after a 0.3% decline in April (revised from -0.2%) while the consensus expected an increase of 0.6%
The FHFA Housing Price Index for April rose 0.3%, which followed an unrevised increase of 0.3% in March
New home sales hit their highest level since February 2008, increasing 2.2% in May to 546,000 from an upwardly revised 534,000 (from 517,000) in April while the Briefing.com consensus expected a reading of 525,000
Regionally, there was a big disparity in demand trends with nearly the entire increase coming from an 87.5% spike in sales in the Northeast. Sales in the Midwest (-5.7%) and South (-4.3%) declined on a month-to-month basis. Sales in the West increased 13.1% to 138,000, but remain below January levels

12:25 pm: [BRIEFING.COM] The major averages have slipped to new lows for the day with the S&P 500 now down 0.1% while the Nasdaq Composite (-0.2%) trades right behind.

The market has been pressured by losses in six of ten sectors while cyclical financials (+0.2%) and consumer discretionary (+0.2%) continue holding modest gains. Also of note, the health care sector has slipped into the red after showing relative strength early on.

Notably, the discretionary sector has received support from homebuilders with the group climbing in reaction to a better New Home Sales report for May (546K; Briefing.com consensus 525K). The iShares Dow Jones US Home Construction ETF (ITB 27.69, +0.04) trades higher by 0.1%.
Related Quotes

11:55 am: [BRIEFING.COM] Equity indices remain near their recent levels with the Dow Jones Industrial Average (+0.1%) trading ahead of the S&P 500 (unch).

The price-weighted Dow outperforms as 15 of its 30 components trade in the green with UnitedHealth (UNH 122.48, +2.23) up 1.9%. Meanwhile, the top-weighted index component-Goldman Sachs (GS 218.20, +1.69)-has climbed 0.8% as the financial sector (+0.3%) continues showing relative strength.

On the downside, Boeing (BA 144.14, -1.56), DuPont (DD 68.96, -1.03), and Microsoft (MSFT 45.78, -0.45) hold losses between 1.0% and 1.5%.

11:25 am: [BRIEFING.COM] Not much change in the market with the S&P 500 remaining near its flat line after slipping from its early high.

The technology sector (-0.2%) is largely responsible for the market's pullback from opening levels, but its weakness has been offset by modest gains in financials (+0.3%) and consumer discretionary (+0.3%). Meanwhile, the remaining cyclical sectors trade with slim losses.

The industrial sector (-0.2%) is among the laggards even though transport stocks have kept pace with the broader market. The Dow Jones Transportation Average trades flat after climbing 0.8% yesterday.

Also of note, Treasuries have reclaimed all of their early losses with the 10-yr yield returning to unchanged on the day (2.38%).

10:55 am: [BRIEFING.COM] The S&P 500 (-0.1%) and Nasdaq (-0.2%) have surrendered their early gains while the Dow Jones Industrial Average (+0.1%) continues hovering just north of its flat line.

Relative weakness in the technology sector (-0.3%) has pressured the market from its early high with large cap tech names like Apple (AAPL 127.24, -0.37), Microsoft (MSFT 45.74, -0.49), and Intel (INTC 31.98, -0.28) down between 0.3% and 1.0%. Similar to Intel, many other high-beta chipmakers also trade in negative territory with the PHLX Semiconductor Index down 0.6%.

On the upside, financials (+0.2%) and health care (+0.1%) continue holding modest gains.

10:35 am: [BRIEFING.COM]

The dollar traded higher overnight, and was bolstered in early trade by optimistic headlines regarding Greece and commentary by Fed Governor Jerome Powell.
Despite relatively weak US durable goods data, the index has extended gains and is putting selling pressure on commodities so far. The index is now +1% to 95.28
Oil traded modestly negative in early trade, seeing resistance pressure by a strengthening dollar and weaker than expected Chinese manufacturing data.
After failing to overcome those resistances for most of the session, oil has now recently seen a sharp rally into positive territory, trading +1.1% to $61.02/barrel
Copper has traded green all session, as weak manufacturing data out of China has renewed market sentiment surrounding possible Chinese QE.
July copper is now +2.2% to $2.62/lb
Precious metals have seen weakness all morning, primarily trading down on the dollar's strength. August gold is -0.4% to $1179.00/oz while July silver is -1.87% to $15.84/oz
July nat gas is +1.7% to $2.78/MMBtu

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.2%.

New home sales in May hit an annualized rate of 546,000, which was up from the revised April rate of 534,000 (from 517,000), and better than the rate of 525,000 that had been broadly expected by the Briefing.com consensus.

9:40 am: [BRIEFING.COM] Equity indices have climbed out of the gate with the S&P 500 (+0.1%) holding a slim opening gain.

Six of ten sectors trade in the green with heavily-weighted financials (+0.4%) and health care (+0.2%) among the early leaders. Similarly, consumer discretionary (+0.2%) and industrials (+0.2%) have contributed to the opening advance while technology (-0.1%), consumer staples (-0.3%), and utilities (-0.5%) weigh.

Elsewhere, Treasuries continue hovering near their worst levels of the morning with the 10-yr yield up four basis points at 2.42%.

The New Home Sales report for May will be released at 10:00 ET (Briefing.com consensus 525K).

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: +3.60. The stock market is on track for a flat open as futures on the S&P 500 trade within a point of fair value after holding a modest gain throughout the night. Overseas, European indices are extending yesterday's gains amid continued optimism that a deal between Greece and its creditors will be secured in the near future. In addition, a set of better than expected PMI readings from the region has contributed to the strength in European equity markets.

Domestically, pre-market action has been very quiet with just a few names moving in reaction to stock-specific developments. For instance, Green Dot (GDOT 19.32, +4.01) has surged 26.2% after signing a five-year agreement with Wal-Mart (WMT 72.90, +0.11) to provide prepaid debit card services.

On the economic front, May Durable Orders (-1.8%; Briefing.com consensus -0.5%) and core Durable Orders (+0.5%; consensus +0.6%) missed expectations while the April FHFA Housing Price Index increased 0.3%.

The day's data will be topped off with the 10:00 ET release of May New Home Sales (consensus 525K).

Treasuries hover near their lows with the 10-yr yield up four basis points at 2.42%. Treasuries slumped to session lows after Federal Reserve Governor Jerome Powell said that two rate hikes could take place before the end of the year if the economy doesn't suffer an unexpected slump.

9:01 am: [BRIEFING.COM] S&P futures vs fair value: +0.60. Nasdaq futures vs fair value: +4.20. The S&P 500 futures trade one point above fair value.

The FHFA Housing Price Index for April rose 0.3%, which followed an unrevised increase of 0.3% in March.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: +4.20. The S&P 500 futures trade within a point of fair value.

It was another good day for most markets in the Asia-Pacific region, which continued to draft off reports of encouraging developments surrounding a potential (and another) bailout deal for Greece. China's Shanghai Composite stole the trading show, swinging 7.3% between its low and high for the session and ending the day with a 2.2% gain.

In economic data:
China's June HSBC Manufacturing PMI 49.6 (expected 49.4; prior 49.2)
Japan while June Manufacturing PMI 49.9 (expected 50.6; prior 50.9)
Australia's Q1 House Price Index +1.6% quarter-over-quarter (expected +2.3%; prior +2.0%) and CB Leading Index -0.3% month-over-month (expected 0.0%)
Singapore's May CPI -0.4% year-over-year (expected -0.5%; prior -0.5%)

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Japan's Nikkei increased 1.9% and finished at its highs for the day, bolstered by broad-based gains. The basic materials (+2.5%), financial (+2.2%), and technology (+2.1%) sectors were the best-performing areas. Individual standouts included Mitsui Chemicals (+7.5%), Mitsubishi Chemical Holdings (+6.4%), and Tosoh Corp (+5.7%). Sumitomo Chemical (-4.9%) and Sharp Corp (-1.8%) led a small group of losers. Out of the 225 index members, 211 ended higher, 11 finished lower, and 3 were unchanged.
Hong Kong's Hang Seng jumped 0.9%, helped by strength in the communications (+1.7%), energy (+1.4%), and financial (+1.0%) sectors. China Resources Power Holdings (+3.8%), China Mobile (+3.2%), and BOC Hong Kong Holdings (+3.1%) sat atop the list of winners. Link REIT (-4.3%) and China Construction Bank (-3.1%) were the only two stocks to lose more than 1.0%. Out of the 50 index members, 42 ended higher and 8 finished lower.
China's Shanghai Composite declined as much as 4.8% in early action, but then soared in the second half of its trading session, rallying 7.3% to end the day with a 2.2% gain. The advance followed on the heels of the flash HSBC Manufacturing PMI report for June, which was better than expected but still in contraction territory at 49.6. The utilities (+4.5%) and industrial (+4.4%) sectors were the best-performing areas in the Chinese market on Tuesday.

Major European indices trade higher across the board with Germany's DAX (+1.3%) in the lead as regional markets extend yesterday's gains amid continued optimism that a deal between Greece and its creditors will be secured in the near future. The Eurogroup is scheduled to meet once again to discuss a potential debt deal with Greek representatives tomorrow at 17:00 GMT. In addition, a set of better than expected PMI readings from the region has contributed to the strength in equity markets.

Participants received several data points:
Eurozone June Flash Manufacturing PMI 52.5 (expected 52.2; prior 52.2) while Flash Services PMI 54.4 (consensus 53.6; last 53.8)
Germany's June Flash Manufacturing PMI 51.9 (consensus 51.3; last 51.1) while Flash Services PMI 54.2 (consensus 53.0; previous 53.0)
UK's June CBI Industrial Trends Orders -7 (consensus 1; prior -5)
French June Flash Manufacturing PMI 50.5 (expected 49.5; last 49.4) while Flash Services PMI 54.1 (consensus 52.6; previous 52.8). Separately, June Business Survey slipped to 100 from 103 (consensus 103)
Italy's April Retail Sales +0.7% month-over-month (expected 0.1%; last -0.1%) while the year-over-year reading was flat (prior -0.2%)

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UK's FTSE is higher by 0.3% with consumer and industrial names in the lead. Diageo, Sports Direct International, Meggitt, and Babcock Group show gains between 1.0% and 3.2%. Utilities lag with National Grid and Severn Trent both down near 0.3% apiece.
In France, the CAC trades higher by 1.3% with all but one component trading higher. Industrials Airbus, Peugeot, and Renault are up between 1.8% and 3.2% while financials BNP Paribas and Credit Agricole trade higher by 1.8% and 1.4%, respectively.
Germany's DAX has climbed 1.3% with exporters BMW (+2.5%) and Daimler (+2.1%) among the leaders. On the downside, Deutsche Lufthansa is the lone decliner, trading lower by 0.5%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +9.30. The S&P 500 futures trade three points above fair value.

May durable goods orders fell 1.8%, which was worse than the 0.5% decrease expected among economists polled by Briefing.com. This comes after the prior month's revised reading reflected an decrease of 1.5% (from -1.0%). Excluding transportation, durable orders increased 0.5% (consensus 0.6%) to follow the prior month's revised decline of 0.3% (from -0.2%).

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +9.80. U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover three points above fair value after trading inside a seven-point range throughout the night.

Meanwhile, European indices are extending yesterday's gains amid continued optimism that a deal between Greece and its creditors will be secured in the near future. In addition, a set of better than expected PMI readings from the region has contributed to the strength in equity markets.

Yesterday was very quiet on the economic front, but today May Durable Orders (Briefing.com consensus -0.5%) will be reported at 8:30 ET while the FHFA Housing Price Index for April will be released at 9:00 ET. The day's data will be topped off with the 10:00 ET release of May New Home Sales (consensus 525K).

Treasuries are little changed with the 10-yr yield at 2.38%.

In U.S. corporate news of note:

AT&T (T 35.58, +0.54): +1.5% in reaction to upgrades at Barclays and UBS.
BlackBerry (BBRY 10.01, +0.81): +8.8% after reporting a one-cent miss and announcing a patent cross-licensing agreement with Cisco Systems (CSCO 28.94, 0.00).
Darden Restaurants (DRI 73.68, +4.30): +6.2% after beating bottom-line estimates and guiding fiscal-year 2016 earnings above consensus.
Green Dot (GDOT 19.76, +4.45): +29.1% after signing a five-year agreement with Wal-Mart (WMT 72.90, +0.11) to provide prepaid debit card services.

Reviewing overnight developments:

Asian markets ended higher. Hong Kong's Hang Seng +0.9%, Japan's Nikkei +1.9%, and China's Shanghai Composite +2.2%
In economic data:
China's June HSBC Manufacturing PMI 49.6 (expected 49.4; prior 49.2)
Japan while June Manufacturing PMI 49.9 (expected 50.6; prior 50.9)
Australia's Q1 House Price Index +1.6% quarter-over-quarter (expected +2.3%; prior +2.0%) and CB Leading Index -0.3% month-over-month (expected 0.0%)
Singapore's May CPI -0.4% year-over-year (expected -0.5%; prior -0.5%)
In news:
The Employment component of China's Manufacturing PMI indicated the sharpest pace of staff reductions in six years

Major European indices trade higher across the board. UK's FTSE +0.3%, Germany's DAX +1.3%, and France's CAC +1.3%. Elsewhere, Spain's IBEX +0.8% and Italy's MIB +0.9%
Participants received several data points:
Eurozone June Flash Manufacturing PMI 52.5 (expected 52.2; prior 52.2) while Flash Services PMI 54.4 (consensus 53.6; last 53.8)
Germany's June Flash Manufacturing PMI 51.9 (consensus 51.3; last 51.1) while Flash Services PMI 54.2 (consensus 53.0; previous 53.0)
UK's June CBI Industrial Trends Orders -7 (consensus 1; prior -5)
French June Flash Manufacturing PMI 50.5 (expected 49.5; last 49.4) while Flash Services PMI 54.1 (consensus 52.6; previous 52.8). Separately, June Business Survey slipped to 100 from 103 (consensus 103)
Italy's April Retail Sales +0.7% month-over-month (expected 0.1%; last -0.1%) while the year-over-year reading was flat (prior -0.2%)
Among news of note:
The Eurogroup is scheduled to meet once again to discuss a potential debt deal with Greek representatives on Wednesday at 17:00 GMT

5:48 am: [BRIEFING.COM] S&P futures vs fair value: +0.70. Nasdaq futures vs fair value: +4.40.

5:48 am: [BRIEFING.COM] Nikkei...20809.42...+381.20...+1.90%. Hang Seng...27333.46...+252.60...+0.90%.

5:48 am: [BRIEFING.COM] FTSE...6833.48...+7.80...+0.10%. DAX...11572.74...+112.20...+1.00%.

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)
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wrbanalysis@gmail.com
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