TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 3:26 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: July 16th Thursday Trade Results - Profit $2245.00
PostPosted: Fri Jul 17, 2015 1:28 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
071615-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2245.00.png
071615-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2245.00.png [ 92.89 KiB | Viewed 322 times ]

click on the above image to view today's performance verification
Quote:
This is my first trading day in awhile of primarily trading Emini TF futures instead of Emini ES futures. This is something I will slowly transition into when volatility in the markets changes dramatically to the point that trading Emini ES futures becomes too difficult until volatility stabilizes. Trading went well and I decided to call it quits early so that I can study the price action of other key markets to determine which markets I will switch to if the volatility continues to be poor for the Emini futures. Symptoms of poor volatility involves dramatic decrease in the number of WRB Hidden GAP intervals, dramatic decrease in WRB Zones via the Advance Tutorial Chapters 4 - 12 along with a dramatic decrease in the VIX.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1,620.00 dollars or +16.20 points, Emini ES ($ES_F) futures @ $625.00 dollars or +12.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $2245.00 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=2124

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.

-----------------------------

Market Context Summaries

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

Attachment:
071615-Key-Price-Action-Markets.png
071615-Key-Price-Action-Markets.png [ 1014.68 KiB | Viewed 360 times ]

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


4:10 pm: [BRIEFING.COM] The stock market finished Thursday on a higher note with the Nasdaq Composite (+1.3%) and S&P 500 (+0.8%) posting solid gains while the Dow Jones Industrial Average (+0.4%) ended the day closer to its flat line.

Equity indices spiked at the start, responding to overnight strength in the futures market. Shortly after yesterday's close, Intel (INTC 29.90, +0.21) and Netflix (NFLX 115.81, +17.68) reported better than expected results, which led to a surge in Nasdaq futures in particular.

Earnings notwithstanding, Nasdaq and S&P 500 futures received a second boost after the Greek parliament voted 229-64-6 in favor of austerity measures that will allow bailout negotiations to continue with the country expected to receive EUR86 billion in rescue funds. Furthermore, the European Central Bank, which held a policy meeting today, raised the country's allowance to Emergency Liquidity Assistance by EUR900 million, which will pave the way for Greek banks to open as soon as Monday.

As the U.S. opening bell approached, the focus shifted back to earnings with Citigroup (C 58.59, +2.13) and Goldman Sachs (GS 211.18, -1.78) reporting better than expected results. However, Goldman Sachs spent the day in negative territory, snapping its five-day streak. Still, the financial sector (+1.0%) ended among today's leaders, but Goldman's relative weakness kept the Dow under pressure.

Likewise, UnitedHealth (UNH 124.93, -0.93) also pressured the Dow despite reporting better than expected results. The stock narrowed its loss to 0.7% by day's end after being down as much as 3.1% following yesterday's record close. Furthermore, UnitedHealth pressured the health care sector (+0.5%), but hospital names also weighed. For instance, Community Health (CYH 60.99, -1.42) and Universal Health (UHS 141.25, -1.18) lost 2.3% and 0.8%, respectively, after Keybanc Capital Markets downgraded both listings to 'Sector Weight' from 'Overweight.' Biotechnology, however, picked up the slack with iShares Nasdaq Biotechnology ETF (IBB 395.67, +4.91) climbing 1.3%. That strength, combined with a solid showing from the technology sector (+1.3%) kept the Nasaq ahead of the broader market throughout the day.

Large cap technology components like Apple (AAPL 128.51, +1.69), Google (GOOGL 601.78, +17.82) and Microsoft (MSFT 46.66, +0.90) climbed between 1.3% and 3.1% while Intel alternated between gains and losses before settling higher by 0.7%. Other chipmakers struggled, evidenced by the PHLX Semiconductor Index, which eked out a modest gain (+0.2%).

Overall five sectors ended ahead of the broader market, but only two cyclical groups displayed relative strength while consumer staples (+1.0%), telecom services (+1.4%), and utilities (+1.5%) outperformed on the countercyclical side.

On the downside, the materials sector (-0.3%) spent the day in negative territory amid broad weakness while the energy sector (+0.1%) was able to stay in the green even though crude oil fell 1.0% to $50.91/bbl.

Treasuries displayed losses during overnight action, but a morning recovery returned the benchmark 10-yr yield to unchanged by the close (2.35%).

Today's participation was a bit lighter than yesterday with 723 million shares changing hands at the NYSE floor.

Economic data included Initial Claims, NAHB Housing Market Index, and Philadelphia Fed Survey:
Related Stories

InPlay from Briefing.com Briefing.com
How the Dow Jones industrial average fared on Wednesday Associated Press
Bond Market Update from Briefing.com Briefing.com
Stocks Edge Higher as Jobs Data Disappoints Barrons.com
Stocks Rise as Yellen Acknowledges Risks in Raising Rates TheStreet.com

The initial claims level declined to 281,000 for the week ending July 11 from a downwardly revised 296,000 (from 297,000) while the Briefing.com consensus expected a decline to 283,000
The four-week moving average increased to 282,500 from 279,250, which is the first time that the four-week moving has surpassed 280,000 since the end of April
The continuing claims level decreased to 2.215 mln for the week ending July 4 from a downwardly revised 2.327 mln (from 2.334 mln) while the consensus expected a decrease to 2.285 mln
The NAHB Housing Market Index for July rose to 60 from 59 while the Briefing.com consensus expected the index to hold at 59
The Philadelphia Fed's Business Outlook Survey declined to 5.7 in July from 15.2 in June while the Briefing.com consensus expected a drop to 12.5
There was a general softening in manufacturing conditions across all areas with four out of the nine survey subcomponents contracting in July
The Shipments Index declined to 4.4 in July from 14.3 while Employment conditions were notably weak
The Number of Employees Index turned negative, falling from 3.8 in June to -0.4 in July
The Average Employee Workweek Index dropped to 4.0 from 4.7

Tomorrow, June CPI (Briefing.com consensus 0.3%) and June Housing Starts (consensus 1.12 million)/Building Permits (expected 1.15 million) will be reported at 8:30 ET while the preliminary reading of the Michigan Sentiment Index for July (consensus 96.5) will be released at 10:00 ET.

Nasdaq Composite +8.3% YTD
Russell 2000 +5.4% YTD
S&P 500 +3.1% YTD
Dow Jones Industrial Average +1.6% YTD

3:40 pm: [BRIEFING.COM]

The dollar index continued to trade higher today, which weighed on commodities
Both oil and natural gas futures both remain near today's lows in electronic trade and also had separate catalysts weighing on prices
WTI crude has been weak following a number of variables, including the Iran nuclear agreement, which raises future oil exports, the OPEC report and the IEA oil report
Natural gas futures felt additional pressure today from the weekly nat gas storage data
Ultimately, Aug crude closed $0.49 lower to $50.91/barrel, while Aug nat gas lost $0.06 to $2.86/MMBtu
Aug gold fell $3.60 today to $1143.70/oz, while Sept silver lost $0.07 to $14.98/oz
Sept copper ended the session unchanged at $2.52./lb

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.7% with one hour remaining in the session.

Yesterday, Federal Reserve Chair Janet Yellen testified before the House Financial Services Committee, and not long ago, Ms. Yellen began addressing the Senate Banking Committee to conclude the semiannual, two-day, appearance in front of Congress.

As expected, Ms. Yellen's prepared remarks were exactly the same as those read yesterday, but if the Fed Chair makes noteworthy comments during the Q&A part, we will highlight them in our closing summary.

Treasuries hold slim losses after finding resistance at the unchanged level with the 10-yr yield higher by a basis point at 2.36%.

2:30 pm: [BRIEFING.COM] Equity indices remain near their recent levels with the S&P 500 (+0.7%) trading inside a three-point range that has held for the past three hours.

Nine sectors remain in the green with the energy space (+0.1%) defending a slight gain even though crude oil has set a new low for the day heading into the pit close. The energy component is currently lower by 0.8% at $51.02.bbl.

Elsewhere, the materials sector (-0.4%) has widened its decline with most steelmakers showing losses and the Market Vectors Steel ETF (SLX 28.21, -0.15) trading lower by 0.5%.

1:55 pm: [BRIEFING.COM] The major averages remain near their recent levels.

Despite a recent upward move in the initial claims level, the labor market remains firm.

The initial claims level declined to 281,000 for the week ending July 11 from a downwardly revised 296,000 (from 297,000) for the week ending July 4. The Briefing.com Consensus expected the initial claims level to decline to 283,000.

The four-week moving average increased to 282,500 from 279,250. That is the first time that the four-week moving has surpassed 280,000 since the end of April.

While a general upward move in the initial claims trends would normally indicate worsening labor market conditions, this move is not something to worry about. The four-week moving average bottomed at 267,000, which was so low and unsustainable in the medium-term that an upward move was bound to happen.

The reality is that any claims result below 300,000 is considered strong.

1:30 pm: [BRIEFING.COM] The major indices are slightly higher since our last update as stocks continue to trade in a very tight range.

A look inside the Dow Jones Industrial Averages shows DuPont (DD 59.73, +0.73), Microsoft (MSFT 46.32, +0.56), and IBM (IBM 170.53, +2.00) are outperforming

Conversely, Goldman Sachs (GS 210.06, -2.90) is the worst-performing Dow component after the company reported its Q2 results.

At current levels, the DJIA is up almost 2% for the week and 2.7% in July.

1:00 pm: [BRIEFING.COM] The major averages sport midday gains with the Nasdaq Composite (+1.0%) trading well ahead of the Dow Jones Industrial Average (+0.2%) as blue chip names struggle to keep pace with biotechnology and technology.

Today's advance began in the futures market last night with better than expected earnings from Intel (INTC 29.52, -0.17) and Netflix (NFLX 114.05, +15.92) providing a boost shortly after Wednesday's close. Nasdaq futures led the way last night and the cash index remains in the lead today even though Intel has slipped into the red.

In addition to yesterday's earnings, futures got a boost after the Greek parliament voted 229-64-6 in favor of austerity measures that will allow bailout negotiations to continue with the country expected to receive EUR86 billion in rescue funds. Furthermore, the European Central Bank, which held a policy meeting today, raised the country's allowance to Emergency Liquidity Assistance by EUR900 million, which will pave the way for Greek banks to open as soon as Monday.

Investors received more earnings this morning with roughly half of the reports coming in ahead of estimates. Citigroup (C 58.52, +2.06) has jumped 3.7%, but some of that strength has been offset by a 1.2% decline in Goldman Sachs (GS 210.18, -2.78) even though both reported better than expected results. As a result, the financial sector (+0.8%) is among today's leaders but Goldman has pressured the price-weighted Dow.

Similar to Goldman Sachs, Dow component UnitedHealth (UNH 124.25, -1.61) reported better than expected results, but has yet to make it into the green. To be fair, the stock has narrowed its loss to 1.3% after being down as much as 3.1% earlier following yesterday's record close. UnitedHealth has pressured the health care sector (+0.4%), but the group has also had to contend with losses among hospital stocks. Community Health (CYH 60.99, -1.42) and Universal Health (UHS 140.53, -1.90) hold respective losses of 2.3% and 1.3% after both names were downgraded to 'Sector Weight' from 'Overweight' at Keybanc Capital Markets. Biotechnology, however, has done some heavy lifting with iShares Nasdaq Biotechnology ETF (IBB 395.69, +4.93) trading higher by 1.3%.

Elsewhere, Treasuries retreated overnight, but a recent recovery has the benchmark 10-yr yield unchanged for the day (2.35%).

Economic data included Initial Claims, NAHB Housing Market Index, and Philadelphia Fed Survey:

The initial claims level declined to 281,000 for the week ending July 11 from a downwardly revised 296,000 (from 297,000) while the Briefing.com consensus expected a decline to 283,000
The four-week moving average increased to 282,500 from 279,250, which is the first time that the four-week moving has surpassed 280,000 since the end of April
The continuing claims level decreased to 2.215 mln for the week ending July 4 from a downwardly revised 2.327 mln (from 2.334 mln) while the consensus expected a decrease to 2.285 mln
The NAHB Housing Market Index for July rose to 60 from 59 while the Briefing.com consensus expected the index to hold at 59
The Philadelphia Fed's Business Outlook Survey declined to 5.7 in July from 15.2 in June while the Briefing.com consensus expected a drop to 12.5
There was a general softening in manufacturing conditions across all areas with four out of the nine survey subcomponents contracting in July
The Shipments Index declined to 4.4 in July from 14.3 while Employment conditions were notably weak
The Number of Employees Index turned negative, falling from 3.8 in June to -0.4 in July
The Average Employee Workweek Index dropped to 4.0 from 4.7

12:30 pm: [BRIEFING.COM] The major averages remain near their recent levels with the S&P 500 trading higher by 0.7%.

Nine sectors trade with gains between 0.1% (energy) and 1.2% (telecom services) while the materials sector is still battling with its flat line. The growth-sensitive group has been pressured by PPG Industries (PPG 114.27, -2.71), which trades lower by 2.3% after reporting a bottom-line beat on below-consensus revenue. In addition, miners have also pressured the sector with Market Vectors Gold Miners ETF (GDX 16.18, -0.13) trading lower by 0.8%.

Elsewhere, the other commodity-related sector-energy (+0.1%)-hovers just above its flat line amid a 0.4% decline in crude oil, which trades at $51.20/bbl, not far above this week's low ($50.38/bbl).
Related Quotes

11:55 am: [BRIEFING.COM] Equity indices have added to their recent gains with the Nasdaq Composite extending its advance to 1.1%.

The tech-heavy index has been pushed to a fresh high by the relative strength in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 396.22, +5.46) is now up 1.4% with Celgene (CELG 135.43, +4.04) up another 3.0% on top of yesterday's 7.0% jump, which followed a guidance boost and news that the company is acquiring Receptos (RCPT 229.99, -0.09) for $232/share in cash.

That being said, the relative strength in biotechnology has not been able to keep the health care sector (+0.4%) in-line with the market as hospital and insurance names weigh. For instance, Community Health (CYH 60.99, -1.42) and Universal Health (UHS 140.70, -1.73) hold respective losses of 2.3% and 1.2% after both listings were downgraded to 'Sector Weight' from 'Overweight' at Keybanc Capital Markets.

11:30 am: [BRIEFING.COM] Not much change in today's trading dynamic with the Nasdaq Composite (+1.0%) trading ahead of the other indices. The index has benefited from relative strength in technology and biotechnology while the S&P 500 (+0.6%) trades a bit behind as blue chip names weigh.

Last evening, Intel (INTC 29.84, +0.14) reported better than expected results and the stock has responded by climbing 0.7%; however, its report has had little impact on other chipmakers with the PHLX Semiconductor Index trading lower by 0.2%.

On the downside, the materials sector (-0.1%) is the only group trading in the red.

11:00 am: [BRIEFING.COM] The S&P 500 (+0.6%) and Nasdaq Composite (+0.9%) have pushed to new highs while the Dow Jones Industrial Average (+0.2%) is being weighed down by four influential components.

Most notably, the highest-priced index member-Goldman Sachs (GS 210.30, -2.66)-trades lower by 1.2% while three other heavily-weighted components also sport losses. On the flip side, only two index members-Caterpillar (CAT 84.25, +0.86) and Microsoft (MSFT 46.46, +0.70)-are up more than 1.0% apiece.

Elsewhere, small caps have shown relative strength, evidenced by the Russell 2000 (+0.8%), which is trading at its best level of the day.

10:40 am: [BRIEFING.COM]

The dollar index was flat in overnight trading, before lifting off the flat-line to session highs near 97.80
This strength extended the previous session's gains, made largely on hawkish commentary by Janet Yellen in testimony before Congress
Dollar gains have put selling pressure all session on precious metals and copper, despite a recent pullback in the index, which is now +0.3% to 97.45
Oil was positive overnight, extending gains early as market participants began to re-consider supply implications of lifting Iranian sanctions
Headlines citing the expected delay in arrival of significant oil supply to global markets (from months to years), helped the August contract trade modestly positive
However following the open of pit trading, crude has sold off and is now near its LoD at -0.6% to $51.10/barrel
Natural gas traded in a narrow, positive 3 cent range overnight, but sold off on the open ahead of the morning's EIA inventory data
The market expected a build, and upon the release of the data (larger than expected build), Nat gas sold off and is currently -1% to $2.89/MMBtu
Precious metals have trended red all morning, and are holding decent losses as the dollar retains strength; gold is -0.3% to $1143.70/oz while silver is -0.3% to $15.01/oz
Copper was up overnight on positive macro-developments, but has given up those gains here in recent trade, now -0.1% to $2.52/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.6% while the Nasdaq Composite (+0.8%) remains ahead.

Just reported, the Philadelphia Fed Survey for July fell to 5.7 from 15.2 while economists polled by Briefing.com had expected a decline to 12.5.

Separately, the NAHB Housing Market Index for July rose to 60 from 59 while the Briefing.com consensus expected the index to hold at 59.

9:45 am: [BRIEFING.COM] As expected, the major averages jumped out of the gate with the S&P 500 (+0.6%) adding more than 10 points at the start of the Thursday session. The benchmark index trades a bit behind the Nasdaq Composite (+0.7%), which owes its outperformance to better than expected earnings from Intel (INTC 29.96, +0.27) and Netflix (NFLX 109.58, +11.40). In addition, eBay (EBAY 65.75, +2.31) has also contributed to the early strength thanks to a 3.6% advance brought on by the company's earnings report.

Meanwhile, the Dow Jones Industrial Average (+0.2%) trades much closer to its flat line with Goldman Sachs (GS 211.58, -1.38) and UnitedHealth (UNH 122.22, -3.64) pressuring the price-weighted index. Both names reported above-consensus results, but their shares had rallied 4.4% and 6.0%, respectively, over the past five days, suggesting some profit-taking is taking place today.

Elsewhere, Treasuries remain near their lows with the 10-yr yield up three basis points at 2.38%.

The Philadelphia Fed Survey for July (consensus 12.0) and July NAHB Housing Market Index (expected 59) will be released at 10:00 ET.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: +13.70. Nasdaq futures vs fair value: +40.20. The stock market is on track for a higher open as S&P 500 futures trade 14 points above fair value.

Index futures received a boost last evening after the Greek parliament voted 229-64-6 in favor of austerity measures that will allow bailout negotiations to continue with the country expected to receive EUR86 billion in rescue funds. To be sure, the futures market has also received support from better than expected earnings from the likes of Netflix (NFLX 109.76, +11.63) and Intel (INTC 30.47, +0.78). The two names are on track to open higher by 11.9% and 2.6%, respectively.

Investors have received more quarterly reports this morning with roughly half of the names beating bottom-line estimates. Most notably, Citigroup (C 57.87, +1.41), Goldman Sachs (GS 211.88, -1.08), and UnitedHealth (UNH 124.74, -1.12) reported above-consensus results, but GS and UNH are indicated lower.

On the economic front, data reported this morning was limited to weekly Initial Claims, which declined to 281,000 from the revised prior week count of 296,000 (from 297,000) while the Briefing.com consensus expected a reading of 283,000.

More data remains on the schedule with the Philadelphia Fed Survey for July (consensus 12.0) and July NAHB Housing Market Index (expected 59) both set to be released at 10:00 ET.

Treasuries hover near their lows with the 10-yr yield up three basis points at 2.38%.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +12.70. Nasdaq futures vs fair value: +38.70. The S&P 500 futures trade 13 points above fair value.

Major markets in the Asia-Pacific region ended higher Thursday, aided by the news that Greece's parliament passed the austerity program desired by its creditors. The 0.5% gain in China's Shanghai Composite belies another volatile day of action for that market, which traded in a 5.1% range between its lows and highs of the session.

Economic data was limited:
Australia's MI Inflation Expectations 3.4% (prior 3.0%)
Singapore's June Trade Balance SGD4.93 bln (expected SGD7.10 bln; prior SGD6.61 bln) and Non-Oil Exports -2.4% month-over-month (expected -1.2%; prior -3.3%); +4.7% year-over-year (expected +2.0%; prior -0.3%)

------

Japan's Nikkei increased 0.7%, scoring its fourth straight gain this week and drawing support from a weaker yen. The gains were paced by the consumer discretionary (+1.3%), consumer staples (+1.0%), and financial (+0.7%) sectors. Alps Electric (+6.5%), Mitsubishi Chemical Holdings (+5.3%), and Sony Financial Holdings (+3.9%) were individual standouts. SCREEN Holdings (-4.5%), Mitsumi Electric (-4.5%), and Tokyo Electron (-3.2%) led the laggards. Out of the 225 index members, 146 ended higher, 71 finished lower, and 8 were unchanged.
Hong Kong's Hang Seng added 0.4% and ended near its high for the day with the help of the influential financial sector (+1.0%). China Overseas Land & Investment (+4.3%), China Resources Land (+4.3%), and Sino Land Co (+2.0% were the top-performing issues. Galaxy Entertainment Group (-2.0%) and China Unicom Hong Kong (-1.8%) were the worst-performing issues. Out of the 50 index members, 29 ended higher, 14 finished lower, and 7 were unchanged.
China's Shanghai Composite increased 0.5%, overcoming an early 3.1% decline. The CSI 300 Index for its part gained 0.8%, bolstered by strength in the communication (+2.9%), industrial (+2.6%), and consumer non-cyclical (+2.2%) sectors.

Major European indices trade higher across the board with France's CAC (+1.8%) and Germany's DAX (+1.9%) jockeying for the lead. Last evening, the Greek parliament voted 229-64-6 in favor of austerity measures that will allow bailout negotiations to continue with the country expected to receive EUR86 billion in rescue funds. Separately, the European Central Bank made no changes to its policy, keeping its main refinancing rate at 0.05%, as expected.

Investors received several data points:
Eurozone June CPI 0.0% month-over-month, as expected; +0.2% year-over-year, as expected. Separately, May trade surplus narrowed to EUR18.80 billion from EUR24.90 billion (expected surplus of EUR22.30 billion) while June Core CPI +0.8% year-over-year, as expected
Italy's May trade surplus expanded to EUR4.18 billion from EUR3.73 billion (expected surplus of EUR2.83 billion)
Swiss Retail Sales -1.8% year-over-year (consensus 1.9%; prior 1.6%)

------

UK's FTSE is higher by 0.7% with growth-sensitive names in the lead. Ashtead, ARM Holdings, Weir Group, and Intercontinental Hotels are up between 1.5% and 3.6%. On the downside, miners and energy names lag with Fresnillo, Randgold Resources, BP and BG Group down between 0.2% and 1.3%.
In France, the CAC trades up 1.8% with all 40 components on the rise. Exporters Renault and Michelin lead with respective gains of 3.4% and 2.8% while financials BNP Paribas, Credit Agricole, and Societe Generale are up between 1.2% and 2.2%.
Germany's DAX has climbed 1.9% amid broad support. Exporters have rebounded from recent weakness with BMW, Continental, Daimler, and Volkswagen up between 2.8% and 3.6%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +11.20. Nasdaq futures vs fair value: +34.90. The S&P 500 futures trade 11 points above fair value.

The latest weekly initial jobless claims count totaled 281,000 while the Briefing.com consensus expected a reading of 283,000. Today's tally was below the revised prior week count of 296,000 (from 297,000). As for continuing claims, they fell to 2.215 million from 2.327 million.

7:58 am: [BRIEFING.COM] S&P futures vs fair value: +11.20. Nasdaq futures vs fair value: +35.80. U.S. equity futures trade higher amid upbeat action overseas. The S&P 500 futures hover 11 points above fair value.

Index futures jumped last evening after the Greek parliament voted in favor of austerity measures that will pave the way to negotiations of the third bailout package for Greece. Meanwhile, Treasuries have retreated with the 10-yr yield climbing three basis points to 2.38%.

Investors will receive several data points today with weekly Initial Claims (Briefing.com consensus 283K) set to be reported at 8:30 ET while the Philadelphia Fed Survey for July (consensus 12.0) and July NAHB Housing Market Index (expected 59) will both be released at 10:00 ET.

In U.S. corporate news of note:

Goldman Sachs (GS 210.75, -2.21): -1.0% despite beating earnings and revenue estimates.
Intel (INTC 30.40, +0.71): +2.4% in reaction to better than expected earnings and revenue. The company guided full-year revenue ahead of analyst estimates.
Netflix (NFLX 107.80, +9.67): +9.9% after reporting a two-cent beat on in-line revenue.
Philip Morris International (PM 84.05, +1.38): +1.7% following above-consensus earnings and revenue.
Taiwan Semiconductor (TSM 22.18, -0.38): -1.7% after below-consensus Q3 revenue guidance overshadowed a bottom-line beat.
UnitedHealth (UNH 125.00, -0.86): -0.7% despite beating earnings/revenue estimates and raising its guidance.

Reviewing overnight developments:

Asian markets ended higher. Japan's Nikkei +0.7%, China's Shanghai Composite +0.5%, and Hong Kong's Hang Seng +0.4%
Economic data was limited:
Australia's MI Inflation Expectations 3.4% (prior 3.0%)
Singapore's June Trade Balance SGD4.93 bln (expected SGD7.10 bln; prior SGD6.61 bln) and Non-Oil Exports -2.4% month-over-month (expected -1.2%; prior -3.3%); +4.7% year-over-year (expected +2.0%; prior -0.3%)
In news:
True to this week's form, GDP forecast cuts continued pouring in with Asia Development Bank lowering its GDP growth forecast for developing Asia to 6.1% from 6.3%. The ADB also lowered its outlook for China, cutting the 2015 target to 7.0% from 7.2% and dropping the 2016 target to 6.8% from 7.0%

Major European indices trade higher across the board. UK's FTSE +0.5%, France's CAC +1.6%, and Germany's DAX +1.6%. Elsewhere, Italy's MIB +1.4% and Spain's IBEX +1.4%
In economic data:
Eurozone June CPI 0.0% month-over-month, as expected; +0.2% year-over-year, as expected. Separately, May trade surplus narrowed to EUR18.80 billion from EUR24.90 billion (expected surplus of EUR22.30 billion) while June Core CPI +0.8% year-over-year, as expected
Italy's May trade surplus expanded to EUR4.18 billion from EUR3.73 billion (expected surplus of EUR2.83 billion)
Swiss Retail Sales -1.8% year-over-year (consensus 1.9%; prior 1.6%)
Among news of note:
The Greek parliament voted 229-64-6 in favor of austerity measures that will allow bailout negotiations to continue with the country expected to receive EUR86 billion in rescue funds
The European Central Bank made no changes to its policy, keeping its rate corridor unchanged with the main refinancing rate at 0.05%, as expected

5:50 am: [BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +36.90.

5:50 am: [BRIEFING.COM] Nikkei...20600.12...+136.80...+0.70%. Hang Seng...25162.78...+107.20...+0.40%.

5:50 am: [BRIEFING.COM] FTSE...6784.03...+30.30...+0.50%. DAX...11703.04...+163.70...+1.40%.

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

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr