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 Post subject: July 21st Tuesday Trade Results - Profit $770.00
PostPosted: Tue Jul 21, 2015 11:50 pm 
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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 @ ($1230.00) dollars or -12.30 points, Emini ES ($ES_F) futures @ $2000.00 dollars or +40.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $770.00 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=2127

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 stock market retreated on Tuesday with the Nasdaq Composite (-0.2%) backing away from yesterday's record close. However, the tech-heavy index held up relatively well considering the Dow (-1.0%) and S&P 500 (-0.4%) registered wider losses.

The price-weighted Dow Jones Industrial Average paced the retreat with IBM (IBM 163.07, -10.15) and United Technologies (UTX 102.67, -7.81) largely responsible for the underperformance. The second largest index member-IBM-lost 5.9% following its bottom-line beat that was aided by a lower tax rate while the company's year-over-year revenue showed the 13th consecutive quarterly decline.

Separately, United Technologies fell 7.1% after below-consensus revenue and lowered earnings guidance for the year overshadowed an earnings beat. In addition to pressuring the Dow, shares of UTX weighed on the industrial sector (-1.1%), which ended behind the remaining cyclical groups. Interestingly, the sector finished among the laggards even though transport stocks displayed relative strength, sending the Dow Jones Transportation Average higher by 0.7%.

Elsewhere among cyclical groups, the energy sector (+0.1%) tried to resist the market-wide pressure, but could only eke out a slim gain while crude oil rose 0.9% to $50.87/bbl. Also of note, the top-weighted technology sector (-0.5%) settled just behind the broader market.

Just like the energy sector, high-beta chipmakers surrendered the bulk of their gains during afternoon action with the PHLX Semiconductor Index narrowing its advance to 0.1%. As for large cap tech components, Apple (AAPL 130.71, -1.36) lost 1.0% ahead of its earnings report. Investors will be most interested in iPhone sales and the pace of sales growth, but the report should also provide an early look at Apple Watch sales. Apple is the top-weighted stock in the market-cap weighted S&P 500 (3.98%), the top-weighted stock in the market-cap weighted Nasdaq 100 (13.9%), and the fifth highest-priced stock in the price-weighted Dow Jones Industrial Average.

Over on the countercyclical side, health care (-0.4%) and consumer staples (-0.3%) settled near the broader market while telecom services (-1.7%) and utilities (-1.0%) underperformed throughout the session. The telecom sector ended at the bottom of the leaderboard as Verizon (VZ 46.97, -1.13) tumbled 2.4% despite reporting a bottom-line beat.

Treasuries made a brief appearance in the red this morning, but they rallied as stocks declined with the 10-yr yield falling three basis points to 2.34%.

Investors did not receive any economic data today, but tomorrow will include the release of the weekly MBA Mortgage Index at 7:00 ET, followed by the FHFA Housing Price Index for May, which will be reported at 9:00 ET. The day's data will be topped off with the Existing Home Sales report for June, which will cross at 10:00 ET (Briefing.com consensus 5.40 million).
Related Stories

How the Dow Jones industrial average fared on Wednesday Associated Press
Dow posts triple-digit drop as IBM, United Technologies weigh MarketWatch
How the Dow Jones industrial average fared on Friday Associated Press
How the Dow Jones industrial average fared on Thursday Associated Press
US STOCKS SNAPSHOT-Nasdaq ends at record high after Google Reuters

Nasdaq Composite +10.0% YTD
Russell 2000 +4.2% YTD
S&P 500 +2.9% YTD
Dow Jones Industrial Average +0.5% YTD

3:35 pm: [BRIEFING.COM]

The dollar index continued to remain weak today, which helped select commodities
Gold was not one of them. The precious metals slid lower today and finished the day with a modest loss of $3.50, closing at $1103.30/oz
However, in electronic trade, Aug gold fell below the $1100/oz
Sept silver ended the day unchanged at $14.78/oz
In other commodities, energy futures rose today, including oil, natural gas, heating oil and RBOB gasoline futures.
Natural gas closed pit trading $0.05 higher at $2.88/MMBtu and remains near today's high
WTI crude oil, however, pulled back from today's high, but finished $0.47 higher at $50.87/barrel

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.6% with one hour remaining in the session. Including today's decline, the benchmark index is down 0.4% for the week, but remains higher by 2.7% since the end of June.

Investors will turn their attention to earnings shortly after today's close with Apple (AAPL 130.88, -1.19) headlining the list of reporting companies. In addition, participants will hear from other tech companies like Microsoft (MSFT 46.73, -0.19), VMware (VMW 83.60, -0.42), Yahoo! (YHOO 39.58, +0.04), and GoPro (GPRO 60.39, -0.41).

More quarterly reports will be released tomorrow with Boeing (BA 144.64, -2.08), Coca-Cola (KO 41.13, -0.25), and EMC (EMC 25.02, +0.04) expected to report ahead of the opening bell.

2:25 pm: [BRIEFING.COM] The major averages have ticked down to fresh lows with the S&P 500 widening its decline to 0.5%.

The energy sector (-0.1%) has recently turned negative, meaning all ten groups are now in the red. Elsewhere among cyclical sectors, industrials (-1.2%) have set new lows for the day while transport stocks continue resisting the pressure with the Dow Jones Transportation Average trading higher by 0.6%. CH Robinson (CHRW 65.36, +1.69) is the leading index component, up 2.7%.

1:55 pm: [BRIEFING.COM] Equity indices remain near their session lows.

Yesterday we previewed tomorrow's existing home sales report. Today we look at Friday's new home sales report.

New home sales increased 2.2% in May to 546,000 from 534,000 in April. The Briefing.com Consensus expects new home sales increased to 550,000 in June.

That was the most new homes sold since February 2008.

According to the NAHB homebuilder survey, builders are noticing an uptick in potential buyers. That should keep upward pressure on sales.

Furthermore, the anticipation of higher mortgage rates seemed to spur buyers into taking out mortgages. Mortgage purchase applications increased 2.3% in June. Since new home sales are measured by contract signings and not closings, the increase in mortgage purchase applications should impact new home sales immediately.

1:30 pm: [BRIEFING.COM] The major US indices remain under heavy pressure as we enter the back-half of the trading day.

A look inside the Dow Jones Industrial Average shows United Technologies (UTX 102.00, -8.48), IBM (IBM 163.40, -9.82), and Verizon (VZ 47.00, -1.10) are all underperforming after reporting their quarterly earnings, which failed to thrill investors. The heavy weakness seen in UTX & IBM shares has caused the DJIA to heavily underperform its fellow indices in today's session.

Conversely, Chevron (CVX 93.88, +0.94) is the best-performing Dow component amid strength in the energy sector as crude oil gains on the day, rebounding from multi-session declines.

For the week, the DJIA is down 1.1%

12:55 pm: [BRIEFING.COM] The stock market hovers near its low at midday with the Dow Jones Industrial Average (-1.2%) trading behind the S&P 500 (-0.5%) and Nasdaq Composite (-0.2%).

Equity indices slipped out of the gate with the Dow leading the market lower amid relative weakness in two influential components. Specifically, IBM (IBM 162.63, -10.59) and United Technologies (UTX 101.90, -8.59) hold respective losses of 6.7% and 7.8% after reporting earnings. IBM has retreated despite beating bottom-line estimates, but the company's beat was aided by a lower tax rate while year-over-year revenue showed the 13th consecutive quarterly decline. For its part, United Technologies lags after below-consensus revenue and lowered earnings guidance for the year overshadowed an earnings beat.

Nine sectors hold midday losses while energy (+0.4%) outperforms. The sector has advanced alongside crude oil, which trades higher by 0.8% at $50.84/bbl.

Elsewhere, heavily-weighted consumer discretionary (-0.6%), health care (-0.7%), and industrials (-1.0%) trade behind the S&P 500 while the largest sector by weight-technology (-0.3%)-has climbed off its session low with help from chipmakers. To that point, the PHLX Semiconductor Index is higher by 0.7% with just three components in the red.

As for large cap tech names, Apple (AAPL 131.24, -0.83) is lower by 0.6% ahead of this evening's earnings report. Investors are likely to focus on iPhone sales and the pace of unit growth, but the report should also provide an early look at Apple Watch sales. Apple is the most heavily-weighted stock in the market-cap weighted S&P 500 (3.98%), the most heavily-weighted stock in the market-cap weighted Nasdaq 100 (13.9%), and the fifth highest-priced stock in the price-weighted Dow Jones Industrial Average.

Moving to the countercyclical side, telecom services (-1.8%) and utilities (-1.1%) underperform with Verizon's (VZ 46.96, -1.14) 2.4% loss pressuring the telecom sector. Also of note, health care (-0.7%) trades just behind the broader market while biotechnology lags with the iShares Nasdaq Biotechnology ETF (IBB 392.39, -5.61) lower by 1.4%.

Today's retreat in equities has coincided with strength in the Treasury market as the 10-yr note climbed to a new high not long ago with its yield down four basis points at 2.34%.

Investors did not receive any economic data today.

12:25 pm: [BRIEFING.COM] Not much change in the market with the major averages drifting just above their session lows.

The S&P 500 remains lower by 0.4%, but the top-weighted technology sector has narrowed its decline to just 0.1%. High-beta chipmakers have contributed to the sector's rebound with the PHLX Semiconductor Index trading higher by 0.6%. As for large cap components, Google (GOOGL 704.62, +11.78) has climbed 1.7%, but that gain has been offset by a 0.5% decline in the shares of Apple (AAPL 131.42, -0.65) ahead of the company's earnings report.

Elsewhere among influential sectors, consumer discretionary (-0.5%), health care (-0.6%), and industrials (-0.9%) trail the broader market while the financial sector (-0.2%) trades a bit ahead of the S&P 500.
Related Quotes

11:55 am: [BRIEFING.COM] Equity indices remain near their recently-established lows with the S&P 500 (-0.4%) trading in the neighborhood of its session low from Friday.

Nine sectors are now in the red while the energy sector (+0.4%) continues holding a modest gain. Meanwhile, crude oil was up as much as 1.9% earlier, but the energy component has narrowed its gain to 0.8% at $50.82/bbl.

On the downside, the telecom services sector (-1.8%) is the only group showing a loss larger than 1.0% while five cyclical sectors display losses between 0.1% (financials) and 0.8% (industrials).

11:25 am: [BRIEFING.COM] Steady selling pressure has pushed the S&P 500 (-0.5%) to a fresh low while other indices have followed suit.

The energy sector (+0.6%) remains ahead of other groups, but financials (unch) and materials (+0.1%) have returned to their unchanged levels after showing gains in the early going. On the downside, the top-weighted technology sector (-0.5%) trades in-line with the benchmark index while other influential sectors like health care (-0.8%) and industrials (-0.9%) underperform.

Notably, the health care sector has been pressured by biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 391.51, -6.49) trading lower by 1.6%.

10:55 am: [BRIEFING.COM] Equity indices have slipped to new lows with the Dow Jones Industrial Average (-1.0%) continuing its underperformance while the S&P 500 (-0.3%) trades closer to its flat line. The Dow remains pressured by IBM (IBM 163.80, -9.42) and United Technologies (UTX 102.10, -8.38) while 22 other index members also trade with losses.

Three cyclical sectors-energy (+0.8%), financials (+0.1%), and materials (+0.3%)-remain in the green while the industrial sector (-0.8%) trades behind other growth-sensitive groups. Interestingly, large cap components have pressured the sector while transport stocks trade mostly higher with the Dow Jones Transportation Average up 0.7%.

Elsewhere, Treasuries have returned near their overnight lows with the 10-yr yield down one basis point at 2.36%.

10:35 am: [BRIEFING.COM]

The Bloomberg Commodity Index is up 0.5% this morning, after hitting a 13 year low yesterday, as the asset class looks to stem its sharp descent
Also, The Baltic Dry index rose 46 pts (+4.3%) overnight, indicating a rise in the global cost of shipping commodities
The dollar index traded flat overnight, before seeing an early am extended sell-off that has given lift to crude and precious metals.
The index is near its LoD at -0.6% to 97.49 ahead of tomorrow's US Existing Home Sales data.
Crude has rallied above $51/barrel on a weaker dollar and expectations regarding this afternoon's API weekly inventory report.
Natural gas is also seeing strong gains, but unlike supply-driven crude, is jogging higher as demand forecasts are increasing on calls for volatile Intermediate NE weather patterns.
September crude is now +1.3% to $51.07/barrel, and Nat Gas currently sits at +1.5% to $2.87/MMBtu
Gold traded red-to-green early this morning, but failed to hold those dollar-aided gains and is now flat on the session. Silver continues to fare better, and is modestly higher for the day. The August gold contract is now flat at $1106.90/oz, while September silver is +0.9% to $14.89/oz
Copper is +0.2% to $2.49/lb

9:55 am: [BRIEFING.COM] The Nasdaq Composite (+0.1%) has erased its early loss while the S&P 500 is back near its flat line. For its part, the Dow Jones Industrial Average (-0.7%) continues showing relative weakness.

The energy sector has extended its advance to 0.7% while crude oil is now up 1.2% at $51.07/bbl. The energy component has drawn strength from greenback weakness, evidenced by a 0.3% decline in the Dollar Index (97.70, -0.33).

On the downside, the telecom services sector (-1.8%) is the weakest performer as Verizon (VZ 46.78, -1.32) weighs despite beating bottom-line expectations.

9:40 am: [BRIEFING.COM] As expected, the major averages have slipped out of the gate with the Nasdaq (-0.2%) and S&P 500 (-0.1%) showing slim losses while the Dow Jones Industrial Average (-0.7%) underperforms as IBM (IBM 165.58, -7.74) pressures the price-weighted index.

Furthermore, IBM has contributed to the early weakness in the technology sector (-0.3%) while two other cyclical sectors-consumer discretionary (-0.2%) and industrials (-0.7%)-also trade in negative territory.

On the upside, the energy sector (+0.6%) has rebounded from yesterday's underperformance as crude oil trades higher by 0.8% at $50.85/bbl.

Elsewhere, Treasuries have inched up off their lows, but they remain in the red with the 10-yr yield up one basis point at 2.38%.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: -2.10. Nasdaq futures vs fair value: +1.10. The stock market is on track for a lower open as S&P 500 futures trade two points below fair value after spending the night inside a six-point range. Index futures have not gone anywhere in overnight action while most markets across Asia rallied. Meanwhile in Europe, the key indices trade near their flat lines.

Investors did not receive any economic data today, but Q2 earnings have poured in with four Dow components reporting their results. Most notably, IBM (IBM 163.13, -10.09) is on track to open lower by 5.8% after its bottom-line beat was overshadowed by the company's 13th consecutive quarterly decline in year-over-year revenue.

Also of note, Travelers (TRV 104.05, +1.44) is on track to open higher by 1.4% in reaction to better than expected results while Verizon (VZ 46.81, -1.29) is lower by 2.7% in pre-market despite reporting a bottom-line beat. Lastly, United Technologies (UTX 105.50, -4.98) has surrendered 4.5% after below-consensus revenue and lowered earnings guidance for the year overshadowed an earnings beat.

Elsewhere, Treasuries displayed strength overnight, but the 10-yr note now trades on its low with the benchmark yield higher by three basis points at 2.40%.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: +1.70. The S&P 500 futures trade one point below fair value.

Most of the widely-followed markets in the Asia-Pacific region registered modest gains on Tuesday, drawing support from Wall Street's steady climb and some relative calm in the Chinese stock market. The Nikkei (+0.9%) led all gainers, jumping smartly after re-opening from Monday's holiday.

In economic data:
Japan's July Tankan Index held at 14 while the Leading Index was unchanged at 106.2, as expected
Hong Kong's June CPI +3.1% year-over-year (consensus 3.1%; prior 3.0%)

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Japan's Nikkei increased 0.9% and ended close to its high for the session. Gains were paced by the consumer cyclical (+1.8%) and consumer non-cyclical (+1.0%) sectors. Individual standouts included Toshiba (+6.1%), which rose sharply despite being found to have overstated its profit over several years, Sharp Corp (+6.0%), and Mitsui OSK Lines (+4.4%). JFE Holdings (-2.6%) and JX Holdings (-2.6%) led decliners. Out of the 225 index members, 157 ended higher, 63 finished lower, and 5 were unchanged.
Hong Kong's Hang Seng increased 0.5%, aided by a jump in the communications (+2.2%) and consumer non-cyclical (+1.0%) sectors. China Unicom Hong Kong (+5.9%), China Mobile (+4.1%), and China Resources Land (+3.2%) led advancing stocks while Cheung Kong Property Holdings (-1.9%), China Shenhua Energy (-1.8%), and Galaxy Entertainment Group (-1.7%) paced the decliners. Out of the 50 index members, 28 ended higher, 20 finished lower, and 2 were unchanged.
China's Shanghai Composite increased 0.6% in a relatively steady manner that resulted in the Composite scoring its fourth consecutive gain. It has climbed 5.6% during that winning streak. The CSI 300 Index, which rose 0.1%, was led by the basic materials (+2.1%) and communications (+1.3%) sectors.

Major European indices trade just below their flat lines as the sleepy session enters its second half. The Greek parliament is expected to vote on the second omnibus reform bill tomorrow with bailout negotiations expected to begin after the successful passage of the reform package.

Economic data was limited:
UK's June Public Sector Net Borrowing GBP8.58 billion (expected GBP8.60 billion; prior GBP8.35 billion)
Swiss trade surplus expanded to CHF3.58 billion from CHF3.41 billion (expected surplus of CHF2.78 billion)

------

UK's FTSE trades down 0.1% with homebuilders among the laggards. Barratt Developments and Persimmon are both down near 1.0% while consumer staples outperform. Tesco, Sainsbury, and WM Morrison Supermarkets shown gains between 1.1% and 1.3%.
In France, the CAC has given up 0.1% with financials BNP Paribas and Societe Generale both down near 0.3%. On the flip side, exporters Renault and Peugeot outperform with respective gains of 1.3% and 1.8%.
Germany's DAX is lower by 0.4% as drug makers Bayer and Merck lead the retreat with losses close to 1.0% apiece. Meanwhile, exporters outperform with BMW, Daimler, and Volkswagen up between 0.4% and 1.5%.
Italy's MIB underperforms with a loss of 0.6% amid weakness in financials. Banca Pop Emilia Romagna, Banco Popolare, Intesa Sanpaolo, and Unicredit display losses between 0.6% and 0.8%.

8:27 am: [BRIEFING.COM] S&P futures vs fair value: -0.60. Nasdaq futures vs fair value: +3.80. U.S. equity futures remain little changed amid sleepy trade overseas. Similar to U.S. futures, markets across Europe trade near their flat lines.

With the Q2 earnings season heating up, participants have received more than 50 quarterly reports since yesterday's closing bell with four Dow components revealing their results.

Most notably, the second-largest index member by weight-IBM (IBM 163.79, -9.43)-is on track to open lower by 5.4%. Big Blue reported a bottom-line beat, but that was achieved thanks to a lower tax rate while year-over-year revenue showed the 13th consecutive quarterly decline.

Elsewhere among Dow members, Travelers (TRV 104.80, +2.19) is on track to open higher by 2.1% in reaction to better than expected results while Verizon (VZ 47.03, -1.07) is lower by 2.2% in pre-market despite reporting a bottom-line beat. Lastly, United Technologies (UTX 105.20, -5.28) has surrendered 4.8% after below-consensus revenue and lowered earnings guidance for the year overshadowed an earnings beat.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +5.80. U.S. equity futures trade little changed following another range-bound night that saw S&P 500 futures trade inside a four-point range. Currently, futures on the benchmark index hover within a point of fair value.

Just like yesterday, today's affair will not include any economic data of note, leaving the focus on earnings.

Treasuries hold slim losses after recovering their overnight gains with the 10-yr yield higher by two basis points at 2.39%.

In U.S. corporate news of note:

IBM (IBM 164.75, -8.47): -4.9% despite beating bottom-line estimates. The company's earnings beat was aided by a lower tax rate while year-over-year revenue showed the 13th consecutive quarterly decline.
Infosys (INFY 17.65, +1.88): +11.9% after beating earnings and revenue estimates.
SAP (SAP 75.09, +0.63): +0.9% after its revenue beat overshadowed a bottom-line miss.
Travelers (TRV 105.00, +2.39): +2.3% in reaction to better than expected results.
United Technologies (UTX 106.00, -4.48): -4.1% after below-consensus revenue and lowered earnings guidance for the year overshadowed an earnings beat.
Verizon (VZ 47.60, -0.50): -1.0% despite reporting a bottom-line beat.

Reviewing overnight developments:

Asian markets ended mostly higher. Hong Kong's Hang Seng +0.5%, China's Shanghai Composite +0.6%, and Japan's Nikkei +0.9%
In economic data:
Japan's July Tankan Index held at 14 while the Leading Index was unchanged at 106.2, as expected
Hong Kong's June CPI +3.1% year-over-year (consensus 3.1%; prior 3.0%)
In news:
Reports from China indicate some non-broker margin lenders have asked their clients to reduce their exposure to margin debt, suggesting regulators are still trying to curtail the recent volatility in the market

Major European indices trade in mixed fashion. France's CAC +0.1%, UK's FTSE -0.1%, and Germany's DAX -0.2%. Elsewhere, Italy's MIB -0.3% and Spain's IBEX -0.1%
Economic data was limited:
UK's June Public Sector Net Borrowing GBP8.58 billion (expected GBP8.60 billion; prior GBP8.35 billion)
Swiss trade surplus expanded to CHF3.58 billion from CHF3.41 billion (expected surplus of CHF2.78 billion)
Among news of note:
The Greek parliament is expected to vote on the second omnibus reform bill tomorrow with bailout negotiations expected to begin after the successful passage of the reform package.

5:52 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +5.40.

5:52 am: [BRIEFING.COM] Nikkei...20841.97...+191.10...+0.90%. Hang Seng...25536.43...+131.60...+0.50%.

5:52 am: [BRIEFING.COM] FTSE...6780.64...-8.10...-0.10%. DAX...11737.63...+1.90...+0.00%.

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)
Skype Messenger: kebec2002
wrbanalysis@gmail.com
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