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 Post subject: July 14th Tuesday Trade Results - Loss $375.00
PostPosted: Wed Jul 15, 2015 6:15 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)

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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 @ ($375.00) dollars or -7.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Loss @ ($375.00) 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=145&t=2122

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=267&t=2814 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 average registered their fourth consecutive advance on Tuesday with the S&P 500 climbing 0.5%. The benchmark index reclaimed its 50-day moving average (2,100) at the start of the session while the tech-heavy Nasdaq Composite (+0.7%) outperformed throughout the trading day.

Equity indices began near their flat lines after overnight reports from Vienna revealed that P5+1 negotiators agreed to a nuclear deal with Iranian representatives. The news had little impact on the market, but crude oil was down about 2.0% overnight amid expectations that global oil supplies will increase once Iran begins selling its oil on the open market. However, an intraday rebound resulted in crude oil climbing 1.7% to $53.06/bbl. Accordingly, the energy sector (+0.8%) climbed alongside crude oil to end the day among the leaders, while only the health care sector (+1.0%) had a better showing.

The influential health care space finished the day well ahead of other countercyclical groups even though Johnson & Johnson (JNJ 99.78, -0.49) slumped 0.5% despite reporting a two-cent beat. However, biotechnology filled the void with iShares Nasdaq Biotechnology ETF (IBB 387.94, +8.79) spiking 2.3%, which contributed to the relative strength in the Nasdaq.

Furthermore, high-beta chipmakers also helped the Nasdaq stay ahead of the broader market with the PHLX Semiconductor Index rallying 1.1%. Micron (MU 19.61, +2.00) was the standout performer, soaring 11.4% after the Wall Street Journal reported Micron may have received a $21.00/share takeover offer from Tsinghua Unigroup. As for large cap tech names, Apple (AAPL 125.61, -0.05), Microsoft (MSFT 45.62, +0.08), and Oracle (ORCL 40.78, -0.02) ended near their flat lines while Google (GOOGL 584.18, +12.45) outperformed, climbing 2.2%.

Elsewhere among cyclical sectors, financials (+0.4%) spent the day behind the broader market even though JPMorgan Chase (JPM 69.04, +0.95) and Wells Fargo (WFC 57.25, +0.51) posted respective gains of 1.4% and 0.9% in reaction to earnings. JPMorgan Chase delivered a bottom-line beat on below-consensus revenue while Wells Fargo matched earnings expectations on revenue that missed estimates.

On the downside, the utilities sector (-0.1%) was the lone decliner, narrowing its July gain to 3.6%.

Treasuries spiked in the morning following a disappointing Retail Sales report. The 10-yr note settled just below its high with the benchmark yield falling five basis points to 2.40%.

Today's participation was in-line with recent totals as 680 million shares changed hands at the NYSE floor.

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

Retail sales declined 0.3% in June after increasing a downwardly revised 1.0% (from 1.2%) in May while the Briefing.com consensus expected an increase of 0.3%
The motor vehicle manufacturers reported that unit sales declined to 17.2 million SAAR in June from 17.8 million SAAR in May, which translated into a sizable 1.1% decline in sales at motor vehicles and parts dealers
Excluding motor vehicles, retail sales declined 0.1% in June after increasing a downwardly revised 0.8% (from 1.0%) in May while the consensus expected an increase of 0.5%
Core sales, which exclude motor vehicle dealers, gasoline stations, and building material and supply stores, declined 0.1% in June after increasing 0.6% in May
Export prices, excluding agriculture, decreased 0.1% in June after increasing 0.7% in the prior reading
Excluding oil, import prices decreased 0.2%, which followed last month's unchanged reading
Business inventories increased 0.3% in May after increasing an unrevised 0.4% in April while the Briefing.com consensus expected an increase of 0.2%
The inventory changes from manufacturers (0.0%) and merchant wholesalers (0.8%) were known prior to the release. The only new information was that retailer inventories were flat in May after increasing 0.6% in April.
Inventory declines from motor vehicle and parts retailers (-0.2%) and furniture and appliances retailers (-0.3%) were offset by increases from general merchandise stores (0.5%) and building material and supply stores (0.2%)

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while June PPI (Briefing.com consensus 0.3%) and July Empire Manufacturing survey (consensus 3.5%) will both be released at 8:30 ET. Industrial Production (consensus 0.2%) and Capacity Utilization (expected 78.1%) for June will be reported at 9:15 ET while the Federal Reserve's July Beige Book will cross at 14:00 ET.

Nasdaq Composite +7.8% YTD
Russell 2000 +5.6% YTD
S&P 500 +2.4% YTD
Dow Jones Industrial Average +1.3% YTD

3:35 pm: [BRIEFING.COM]

Crude oil prices were volatile following the Iran nuclear agreement deal
Ultimately, Aug crude oil closed +$0.88 to $53.06/barrel.
Natural gas futures rallied this morning, it appeared on hot weather forecasts
Aug nat gas finished the day -$0.02 at $2.84/MMBtu
AUg gold fell $2.20 today to $1153.40/oz, while Sept silver lost $0.13 to $15.32/oz
Copper ended unchanged at $2.54/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.5% with one hour remaining in the session. The benchmark index has recently set a fresh high to continue its daylong advance. Sector standing has not changed much with health care (+1.0%) and energy (+0.9%) maintaining their lead while the utilities sector (-0.2%) remains trapped in the red.

Although the key indices enter the final hour on their highs, it is worth noting that investor conviction has not been a strong point today with only 386 million shares having changed hands at the NYSE floor so far today. Meanwhile, market breadth continues favoring the bulls with roughly two names trading in the green for each decliner.

2:20 pm: [BRIEFING.COM] Not much change in the market with the key indices hovering not far below their highs. The S&P 500 trades up 0.4%, which puts the index on track to register its fourth consecutive advance.

Similar to the broader market, individual sectors remain near their recent levels with health care (+0.9%) and energy (+0.8%) trading ahead of other groups. On the downside, the utilities sector (-0.2%) holds a slim loss, which has narrowed its July gain to 3.5%.

Elsewhere, the Dollar Index (96.67, -0.19) remains lower by 0.2% as it continues hovering in the neighborhood of its rebound high.

2:00 pm: [BRIEFING.COM] The major averages remain near their best levels of the session.

After the May retail sales report, it looked like consumers were finally turning the corner on holding an elevated savings rate. What we thought was the start of a new trend, however, turned out to be a one-month anomaly.

Retail sales declined 0.3% in June after increasing a downwardly revised 1.0% (from 1.2%) in May. The Briefing.com Consensus expected retail sales to increase 0.3%.

Excluding motor vehicles, retail sales declined 0.1% in June after increasing a downwardly revised 0.8% (from 1.0%) in May. The consensus expected these sales to increase 0.5%.

The strong retail sales gains from May came from a combination of accelerated income growth and a reduction in the personal savings rate.

The June employment report was weak. Nonfarm payroll growth was modest, but wages and hours worked were flat. That left aggregate income levels up only 0.2%.

That gain should have been enough to keep sales, excluding autos, in positive territory, assuming consumers were willing to keep their personal savings rate at May's reduced levels.

Unfortunately, that didn't happen. Consumers cut back on spending in June, which likely boosted their savings rate back toward April levels.

1:35 pm: [BRIEFING.COM] The major U.S. indices have continued to extend their small gains since our last update as the Dow Jones Industrial Average rests comfortably above the 18k level.

A look inside the DJIA shows UnitedHealth Group (UNH 124.00, +1.55), Coca Cola (KO 41.13, +0.47), and Visa (V 70.28, +0.76) are outperforming. UNH is the best performing name in the DOW amid general strength in health care, the top performing sector in today's session, while Coke is enjoying buying activity after being upgraded to Buy at UBS. Visa is also benefiting from some bullish analyst commentary after Bernstein raised their PT on the name to $81, and reaffirmed the company as a top pick.

Conversely, Johnson & Johnson (JNJ 99.32, -0.95) is the worst-performing Dow component after the pharma giant reported its Q2 results.

On the heels of yesterday's rally, the DJIA is up 1.6% this week


12:55 pm: [BRIEFING.COM] The major averages hover near their highs at midday with the Nasdaq Composite (+0.6%) trading ahead of the S&P 500 (+0.3%).

Equity indices began the trading day near their flat lines, but early strength in the top-weighted technology sector (+0.5%) has led the market higher. The S&P 500 climbed above its 50-day moving average (2,100) during the initial minutes, and has not looked back since then.

The technology sector continues trading ahead of the broader market, but other influential groups like health care (+0.6%) and energy (+0.5%) are now in the lead. As for technology, large cap components like Apple (AAPL 125.80, +0.14), Facebook (FB 90.22, +0.12), and Microsoft (MSFT 45.64, +0.10) hold slim gains between 0.1% and 0.3% while high-beta chipmakers outperform. The PHLX Semiconductor Index has jumped 0.8% with Micron (MU 19.51, +1.90) spiking 10.8% to lead the index higher after the Wall Street Journal reported Micron may have received a $21.00/share takeover offer from Tsinghua Unigroup.

Elsewhere among cyclical groups, the energy sector (+0.5%) has advanced with a rebound in crude oil contributing to the move. The energy component was down near 2.0% overnight after the U.S. and five other world powers reached a nuclear deal with Iran after lengthy negotiations. However, an intraday recovery has WTI crude trading higher by 1.5% at $52.97/bbl.

Over on the countercyclical side, the health care sector (+0.7%) is the lone outperformer while consumer staples (+0.1%), telecom services (+0.1%), and utilities (-0.2%) lag. For its part, the health care sector has been able to overcome a 0.7% decline in Johnson & Johnson (JNJ 99.52, -0.74) after the company reported a two-cent beat. However, the weakness in JNJ has been offset by the second consecutive day of relative strength in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 386.10, +6.95) has climbed 1.8% today and is now up 3.5% for the week.

On the earnings front, the financial sector (+0.2%) trades just behind the broader market after JPMorgan Chase (JPM 68.74, +0.65) and Wells Fargo (WFC 57.05, +0.31) reported their results for the quarter. JPMorgan Chase has climbed 1.0% after beating bottom-line estimates on a 3.5% year-over-year decline in revenue while Wells Fargo has added 0.6% after reporting in-line earnings on a 1.2% year-over-year increase in revenue.

Treasuries hover in the middle of their range after spiking in reaction to a disappointing Retail Sales report for June. The 10-yr yield is lower by five basis points at 2.41%.

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

Retail sales declined 0.3% in June after increasing a downwardly revised 1.0% (from 1.2%) in May while the Briefing.com consensus expected an increase of 0.3%
The motor vehicle manufacturers reported that unit sales declined to 17.2 million SAAR in June from 17.8 million SAAR in May, which translated into a sizable 1.1% decline in sales at motor vehicles and parts dealers
Excluding motor vehicles, retail sales declined 0.1% in June after increasing a downwardly revised 0.8% (from 1.0%) in May while the consensus expected an increase of 0.5%
Core sales, which exclude motor vehicle dealers, gasoline stations, and building material and supply stores, declined 0.1% in June after increasing 0.6% in May
Export prices, excluding agriculture, decreased 0.1% in June after increasing 0.7% in the prior reading
Excluding oil, import prices decreased 0.2%, which followed last month's unchanged reading
Business inventories increased 0.3% in May after increasing an unrevised 0.4% in April while the Briefing.com consensus expected an increase of 0.2%
The inventory changes from manufacturers (0.0%) and merchant wholesalers (0.8%) were known prior to the release. The only new information was that retailer inventories were flat in May after increasing 0.6% in April.
Inventory declines from motor vehicle and parts retailers (-0.2%) and furniture and appliances retailers (-0.3%) were offset by increases from general merchandise stores (0.5%) and building material and supply stores (0.2%)

12:25 pm: [BRIEFING.COM] The stock market remains near its best level of the session with the S&P 500 (+0.4%) spending the past hour in a two-point range.

In our previous update we highlighted the energy sector (+0.8%), which trades ahead of the remaining nine groups. Meanwhile, another commodity-related sector-materials (+0.5%)-has overtaken the broader market after showing relative weakness at the start. The sector has advanced despite relative weakness in steel stocks, evidenced by a 0.9% decline in Market Vectors Steel ETF (SLX 29.24, -0.26).

Elsewhere, Treasuries remain just below their session highs with the 10-yr yield down five basis points at 2.41%.
Related Quotes

11:55 am: [BRIEFING.COM] Not much change in the market with the major averages cruising near their session highs. The S&P 500 (+0.4%) spiked off its 50-day moving average (2,100) at the start and is now on track to end the day above that level for the first time since June 24.

The top-weighted technology sector (+0.6%) continues holding a solid gain while another growth-sensitive sector-energy (+0.9%)-has taken the lead. The energy sector has received support from crude oil, which has climbed out of the red after slumping overnight in reaction to the nuclear deal with Iran. WTI crude is currently higher by 1.4% at $52.95/bbl.

Interestingly, the rebound in crude has taken place even as the Dollar Index (96.70, -0.16) recovered off its low, narrowing its decline to 0.2%.

11:25 am: [BRIEFING.COM] The key indices have reached new session highs since our last update with the S&P 500 extending its advance to 0.4%.

All ten sectors are now in the green after six groups showed early losses. The top-weighted technology sector (+0.5%) continues trading ahead of the broader market while other influential groups like financials (+0.4%) and health care (+0.6%) also trade near the S&P 500.

In the financial sector, JPMorgan Chase (JPM 68.74, +0.64) and Wells Fargo (WFC 57.30, +0.56) are both up near 1.0% after showing opening losses. Both sector components reported their earning this morning with JPM beating bottom-line estimates on light revenue while Wells Fargo reported in-line earnings on below-consensus revenue.

10:55 am: [BRIEFING.COM] Equity indices have extended to new highs with the Nasdaq Composite (+0.5%) trading ahead of the S&P 500 (+0.3%).

As mentioned earlier, the top-weighted technology sector (+0.3%) has shown strength since the early going, which has boosted the Nasdaq. Most notably, high-beta chipmakers outperform with the PHLX Semiconductor Index trading higher by 1.0% amid speculation Micron (MU 19.51, +1.90) could be acquired by Tsinghua Unigroup for $21.00/share.

Also of note, the Nasdaq Composite has received support from biotechnology, evidenced by a 1.6% increase in iShares Nasdaq Biotechnology ETF (IBB 385.09, +5.94).

10:35 am: [BRIEFING.COM]

The dollar index traded flat overnight, before seeing extended weakness in early morning trade, ahead of US retail sales data released at 8:30 ET
Upon the release of unexpectedly weak data, the dollar dropped sharply, offering oil and precious metals support to re-claim prior losses.
The dollar has recently seen a small rally, erasing some of its session losses, but is still down 0.1% to 96.75
Crude oil trended lower overnight, as an Iran Nuclear agreement put modest pressure on the commodity
Around the announcement of the Iran deal, WTI oil was down ~2%, and held those losses.
However, around 7:15 am ET, oil put in a decent rally and remains in positive territory in current trade. August oil is now +0.2% to $52.33/barrel
Precious metals traded in the red all morning, but caught strong lift on the dollar's reaction to Retail Sales, which allowed both gold and silver to reclaim most prior losses.
August gold is flat at $1155.10/oz while July silver is lower by -0.9% to $15.33/oz
Copper is also seeing selling pressure, largely on bearish market sentiment ahead of China's Q2 GDP and June Industrial Production/Retail Sales data release this evening
In most recent trade, the August contract has moderately rallied, but is still holding losses at -0.5% to $2.53/lb
Natural gas is -0.6% to $2.85/MMBtu

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.2% while the Nasdaq Composite (+0.3%) outperforms.

Just released, Business Inventories rose 0.3% in May while the Briefing.com consensus expected an increase of 0.2%. This followed the prior month's unrevised increase of 0.4%.

9:40 am: [BRIEFING.COM] The S&P 500 opened with a slight loss, but was quick to make a return to its unchanged level.

Six of ten sectors display early losses with telecom services (-0.3%), industrials (-0.2%) and materials (-0.2%) trading at the bottom of the leaderboard. Conversely, the rate-sensitive utilities sector (+0.4%) leads while the top-weighted technology space is higher by 0.3%.

Elsewhere, Treasuries remain near their recently-established highs with the 10-yr yield down six basis points at 2.40%.

The Business Inventories report for May will be released at 10:00 ET (consensus 0.2%).

9:13 am: [BRIEFING.COM] S&P futures vs fair value: -1.60. Nasdaq futures vs fair value: +6.20. The stock market is on track for a slightly lower open as S&P 500 futures trade two points below fair value after spending the night inside a narrow trading range. That being said, futures have inched away from their pre-market highs after the Retail Sales report for June missed expectations (-0.3%; Briefing.com consensus +0.3%). The reaction in the futures market was fairly muted while Treasuries spiked to highs, dropping the benchmark 10-yr yield to 2.40% (-5 bps).

In addition to boosting Treasuries, the data has weighed on the dollar, sending the Dollar Index (96.45, -0.41) to a fresh session low.

On a separate note, the P5+1 negotiations in Vienna have resulted in a nuclear deal, which has weighed on oil prices amid expectations that global supplies will increase. However, crude oil has recovered the bulk of its loss, remaining lower by 0.6% at $51.88/bbl.

Moving to earnings, the financial sector is expected to display early weakness with JPMorgan Chase (JPM 67.75, -0.34) and Wells Fargo (WFC 56.00, -0.74) holding respective pre-market losses of 0.5% and 1.3%. JPMorgan Chase reported a bottom-line beat on below-consensus revenue while Wells Fargo reported in-line earnings on light revenue.

The Business Inventories report for May will be released at 10:00 ET (consensus 0.2%).

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: +5.40. The S&P 500 futures trade one point below fair value.

There was some mixed trading action in Asian-Pacific markets on Tuesday. China's Shanghai Composite (-1.2%) cooled down after a 13.2% gain in the preceding three sessions. Japan's Nikkei (+1.5%), however, continued its rally on the heels of Wall Street's strong showing on Monday and reports of a nuclear deal being reached with Iran.

In economic data:
China's New Loans CNY1,280.0 bln (expected CNY1050.0 bln; prior CNY900.8 bln) and M2 Money Stock +11.8% year-over-year (expected 11.0%; prior 10.8%)
Australia's June NAB Business Confidence 10.0 (prior 8.0)
Singapore's Q2 GDP -4.6% quarter-over-quarter (expected +0.8%; prior +4.2%); +1.7% year-over-year (expected +2.4%; prior +2.8%)
India's June WPI Inflation -2.40% year-over-year (expected -2.20%; prior -2.36%) as WPI Food +2.88% year-over-year (prior +3.80%) and WPI Fuel -10.03% year-over-year (prior -10.50%)

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Japan's Nikkei increased 1.5% and is now up 3.1% for the week after declining 3.7% last week. Tuesday's gains were led by the energy (+2.0%), technology (+1.9%), and basic materials (+1.8%) sectors. Individual standouts included Mitsumi Electric (+5.6%), Nomura Holdings (+4.7%), and Tokyo Electron (+4.5%). The worst-performing issues were Kikkoman Corp (-3.3%), Nichirei (-2.8%) and Sony (-1.2%). Out of the 225 index members, 205 ended higher, 16 finished lower, and 4 were unchanged.
Hong Kong's Hang Seng declined 0.4%, weighed down by a relatively weak showing from the technology (-3.3%), energy (-1.5%), and financial (-0.9%) sectors. Sands China (+4.9%) and Galaxy Entertainment (+3.8%) topped all stocks while Lenovo Group (-3.3%) and Hong Kong Exchanges and Clearing (-2.5%) paced declining issues. Out of the 50 index members, 16 ended higher, 31 finished lower, and 3 were unchanged.
China's Shanghai Composite dropped 1.2%. The Composite was up 1.6% in early trading, but surrendered all of that gain and was eventually down as much as 2.9% at its low for the day, which was reached with about an hour left in the trading session. Within the CSI 300 Index (-2.4%), the energy (-4.0%) and financial (-3.4%) sectors were the main pockets of weakness.

Major European indices trade lower across the board with Italy's MIB (-1.0%) showing the largest decline. Elsewhere, reports from Athens suggest the Greek Parliament will back the creditor agreement that was signed by Prime Minister Alexis Tsipras, but some members of Syriza are expected to vote against the agreement

Economic data was plentiful:
Eurozone May Industrial Production -0.4% month-over-month (expected 0.2%; prior 0.1%); +1.6% year-over-year (consensus 1.9%; last 0.9%). Separately, ZEW Economic Sentiment fell to 42.7 from 53.7 (expected 51.1)
Germany's July ZEW Economic Sentiment declined to 29.7 from 31.5 (expected 29.0) while June CPI -0.1% month-over-month, as expected
UK's June CPI 0.0% month-over-month (consensus 0.1%; prior 0.2%); 0.0% year-over-year (consensus 0.1%; previous 0.1%). Separately, June Core CPI +0.8% year-over-year (consensus 0.9%; last 0.9%) and June Input PPI -12.6% year-over-year (expected -11.8%; prior -12.3%)
Italy's June CPI +0.2% month-over-month (expected 0.1%; prior 0.2%); +0.2% year-over-year (consensus 0.1%; last 0.2%)
Spain's June CPI +0.3% month-over-month, as expected; +0.1% year-over-year, as expected

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In France, the CAC is lower by 0.2% with roughly half of the index trading in the red. Exporters Peugeot and Renault underperform with respective losses of 2.7% and 1.9%. On the flip side, consumer names show strength with Danone, Essilor, Pernod Ricard, and L'Oreal up between 0.3% and 0.7%.
UK's FTSE has given up 0.2% amid relative weakness in homebuilders and financials. Taylor Wimpey and Persimmon hold respective losses of 3.0% and 2.2% while Aberdeen Asset Management and Royal Bank of Scotland have surrendered 1.8% and 0.8%, respectively. Consumer names outperform with Sky up 3.7% and J Sainsbury trading up 0.7%.
Germany's DAX trades down 0.5% with exporters seeing their second consecutive day of relative weakness. BMW, Continental, Daimler, and Volkswagen are down between 1.1% and 2.8%.
Italy's MIB is lower by 1.0% with all but six components in the red. Banca di Milano Scarl, Unicredit, UnipolSai, and UBI Banca show losses between 0.8% and 1.7%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +7.90. The S&P 500 futures remain within a points of fair value.

June retail sales fell 0.3% while the Briefing.com consensus expected an increase of 0.3%. The prior month's reading was revised down to 1.0% from 1.2%. Excluding autos, retail sales declined 0.1% while the consensus expected an increase of 0.5%.

Export prices, excluding agriculture, decreased 0.1% in June after increasing 0.7% in the prior reading. Excluding oil, import prices decreased 0.2%, which followed last month's unchanged reading.

7:53 am: [BRIEFING.COM] S&P futures vs fair value: +0.90. Nasdaq futures vs fair value: +4.40. U.S. equity futures trade little changed after spending the night inside narrow ranges. The S&P 500 futures trade within a point of fair value.

The overnight session was fairly quiet, but it is worth noting that the U.S. and five other world powers have reached a nuclear deal with Iran after lengthy negotiations. Oil prices have been pressured amid expectations of an increase in the world supply with WTI crude trading lower by 1.0% at $51.67/bbl.

Meanwhile, U.S. Treasuries hold modest gains with the 10-yr yield down two basis points at 2.43%.

June Retail Sales (Briefing.com consensus 0.3%) and Import/Export Prices for June will be released at 8:30 ET while the Business Inventories report for May will be reported at 10:00 ET (consensus 0.2%).

In U.S. corporate news of note:

Coca-Cola (KO 41.05, +0.39): +1.0% after the stock was upgrade to 'Buy' from 'Neutral' at UBS.
Intel (INTC 29.48, -0.25): -0.8% after Bernstein downgraded the stock to 'Underperform' from 'Market Perform.'
JPMorgan Chase (JPM 68.65, +0.56): +0.8% after beating-bottom-line estimates on below-consensus revenue.
Micron (MU 19.92, +2.31): +13.3% after the Wall Street Journal reported that Tsinghua Unigroup offered $21.00/share of Micron; however Micron's spokesman has denied the receipt of the offer, according to Reuters.

Reviewing overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng -0.4%, China's Shanghai Composite -1.2%, and Japan's Nikkei +1.5%
In economic data:
China's New Loans CNY1,280.0 bln (expected CNY1050.0 bln; prior CNY900.8 bln) and M2 Money Stock +11.8% year-over-year (expected 11.0%; prior 10.8%)
Australia's June NAB Business Confidence 10.0 (prior 8.0)
Singapore's Q2 GDP -4.6% quarter-over-quarter (expected +0.8%; prior +4.2%); +1.7% year-over-year (expected +2.4%; prior +2.8%)
India's June WPI Inflation -2.40% year-over-year (expected -2.20%; prior -2.36%) as WPI Food +2.88% year-over-year (prior +3.80%) and WPI Fuel -10.03% year-over-year (prior -10.50%)
In news:
More than 200 companies listed in China have lifted their trading halts, leaving the number of listings suspended from trading at 785

Major European indices trade lower across the board. Germany's DAX -0.4%, UK's FTSE -0.2%, and France's CAC -0.1%. Elsewhere, Italy's MIB -0.8% and Spain's IBEX -0.3%
Economic data was plentiful:
Eurozone May Industrial Production -0.4% month-over-month (expected 0.2%; prior 0.1%); +1.6% year-over-year (consensus 1.9%; last 0.9%). Separately, ZEW Economic Sentiment fell to 42.7 from 53.7 (expected 51.1)
Germany's July ZEW Economic Sentiment declined to 29.7 from 31.5 (expected 29.0) while June CPI -0.1% month-over-month, as expected
UK's June CPI 0.0% month-over-month (consensus 0.1%; prior 0.2%); 0.0% year-over-year (consensus 0.1%; previous 0.1%). Separately, June Core CPI +0.8% year-over-year (consensus 0.9%; last 0.9%) and June Input PPI -12.6% year-over-year (expected -11.8%; prior -12.3%)
Italy's June CPI +0.2% month-over-month (expected 0.1%; prior 0.2%); +0.2% year-over-year (consensus 0.1%; last 0.2%)
Spain's June CPI +0.3% month-over-month, as expected; +0.1% year-over-year, as expected
Among news of note:
Reports from Athens suggest the Greek Parliament will back the creditor agreement that was signed by Prime Minister Alexis Tsipras, but some members of Syriza are expected to vote against the agreement

5:49 am: [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +3.90.

5:49 am: [BRIEFING.COM] Nikkei...20385.33...+295.60...+1.50%. Hang Seng...25120.91...-103.10...-0.40%.

5:49 am: [BRIEFING.COM] FTSE...6736.87...-1.60...0.00%. DAX...11441.47...-42.90...-0.40%.

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

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

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