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 Post subject: July 22nd Wednesday Trade Results - Profit $5392.50
PostPosted: Thu Jul 23, 2015 3:58 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
072215-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+5392.50.png
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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 @ $1580.00 dollars or +15.80 points, Emini ES ($ES_F) futures @ $3812.50 dollars or +76.25 points, Light Crude Oil CL ($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 @ $5392.50 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=2128

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 ended the midweek session on a lower note with the Nasdaq Composite pacing today's retreat. The tech-heavy index lost 0.7% while the Dow (-0.4%) and S&P 500 (-0.2%) settled closer to their flat lines.

Equities faced selling pressure at the open as investors reacted to earnings from a few large companies. Most notably, Apple (AAPL 125.14, -5.61) surrendered 4.3% after below-consensus iPhone sales growth and cautious guidance for Q4 overshadowed a bottom-line beat. The largest stock by market cap kept the technology sector (-1.7%) pressured throughout the day while four other sectors registered losses.

To be fair, the tech sector was also weighed down by a 3.7% decline in Microsoft (MSFT 45.51, -1.77) after the company reported a loss, which resulted from $8.4 billion in charges related to the phone unit acquisition from Nokia. Furthermore, high-beta chipmakers also struggled with the PHLX Semiconductor Index falling 2.5% amid losses in all 30 components. Linear Technology (LLTC 40.40, -2.72) had the worst showing, ending lower by 6.3% in reaction to disappointing results and below-consensus guidance.

Elsewhere among cyclical sectors, industrials (-0.5%) retreated with Dow component Caterpillar (CAT 79.76, -2.46) dropping 3.0% ahead of its earnings report. Meanwhile, another Dow member-Boeing (BA 146.47, +1.47)-advanced 1.0% after beating estimates and guiding in-line with analyst expectations.

Similar to industrials, the energy sector (-0.7%) ended among the laggards with Baker Hughes (BHI 58.25, -2.39) tumbling 3.9% amid reports Halliburton's (HAL 41.54, -0.32) acquisition of BHI is facing an antitrust probe. On a related note, crude oil settled lower by 3.2% at $49.25/bbl.

On the upside, the financial sector (+0.7%) rallied into the afternoon while the consumer discretionary space (+0.4%) was boosted by a 7.7% surge in Chipotle (CMG 725.82, +52.75) after the company reported a one-cent beat on below-consensus revenue. Homebuilders also contributed to the strength in the discretionary space, evidenced by a 2.1% increase in iShares Dow Jones US Home Construction ETF (ITB 27.99, +0.58) following a better than expected Existing Home Sales report for June.

Also of note, most countercyclical sectors outperformed with health care (+0.2%), consumer staples (+0.2%), and utilities (+0.5%) ending ahead of the broader market while the telecom services sector (-1.0%) lagged.

Treasuries advanced during morning action, but an afternoon retreat narrowed the gain in the 10-yr note to just two ticks with its yield slipping one basis point to 2.32%.

Today's participation was ahead of recent averages as more than 820 million shares changed hands at the NYSE floor.

Economic data included FHFA Housing Price Index, Existing Home Sales, and the MBA Mortgage Index:
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The FHFA Housing Price Index rose 0.4% in May after increasing 0.4% in April
Existing Home Sales for June increased 3.2% from May to an annualized rate of 5.49 million units while the Briefing.com consensus expected a reading of 5.40 million
The weekly MBA Mortgage Index ticked up 0.1% to follow last week's 1.9% decline

Tomorrow, weekly Initial Claims will be released at 8:30 ET (Briefing.com consensus 279K) while June Leading Indicators (consensus 0.2%) will be reported at 10:00 ET.

Nasdaq Composite +9.2% YTD
Russell 2000 +4.4% YTD
S&P 500 +2.7% YTD
Dow Jones Industrial Average +0.2% YTD

3:40 pm: [BRIEFING.COM]

WTI crude oil futures sold off today, which followed the weekly API storage data late yesterday and this morning's EIA storage data
Sept crude finished floor trading -3.2% at $49.25/barrel, but extended losses a bit in electronic trading
The dollar index was trading higher today, and despite some pullback in afternoon activity, the strength weighed on commodities today
Sept copper futures were weak again and closed up today's session -5% at $2.43/lb
In the precious metals space, Aug gold lost 1.1% to $1091.40/oz, while Sept silver fell -0.3% at $14.73/oz

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.2% with one hour remaining in the session. Meanwhile, the Nasdaq Composite (-0.6%) continues showing relative weakness.

Equity indices slumped at the start and tried recovering their losses during the opening hour, but a subsequent retreat has pressured the indices into the middle of their trading ranges, where they remain at this juncture.

Including today's decline, the S&P 500 is lower by 0.7% for the week while the Dow Jones Industrial Average (-0.4%) has surrendered 1.3% this week. For its part, the Nasdaq Composite has surrendered 0.7% since Friday.

2:30 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.2% after having spent the past three hours in a four-point range.

Sector standing has not changed much since today's opening bell with five groups showing gains while five display losses. Relative weakness in the technology sector (-1.5%) has kept the market under pressure even though the financial sector has extended its advance to 0.8%. Furthermore, the consumer discretionary sector (+0.4%) has also climbed above its afternoon range.

Elsewhere, Treasuries have retreated from their late morning highs with the 10-yr note narrowing its gain to just two ticks with its yield down one basis point at 2.32%.

2:00 pm: [BRIEFING.COM] The S&P 500 remains in the bottom half of today's trading range.

Existing home sales surged in June, but we are cautious that demand can continue at this level.

Existing home sales increased 3.2% in June to 5.49 mln SAAR from a downwardly revised 5.32 mln SAAR (from 5.35 mln) in May. The Briefing.com Consensus expected existing home sales to increase to 5.40 mln.

That was the most existing homes sold in one month since 5.79 mln SAAR were sold in February 2007.

The strong increase in home sales over the last couple of months comes as the realization that the Fed is going to lift the fed funds rate off the zero bound in the near future. It seems that the potential rise in mortgage rates that would inevitably come with a higher fed funds rate pulled buyers into the market.

If these buyers had been planning on coming into the marketplace at a later date, the spike in sales will likely be temporary as purchases that would have taken place in September or later were pulled into the early part of summer. That will leave a smaller pool of potential buyers as the calendar moves into the latter half of the year.


1:35 pm: [BRIEFING.COM] The major U.S. indices remain under pressure following a slew of earnings reports that failed to invigorate investors.

A look inside the Dow Jones Industrial Average shows that Apple (AAPL 125.01, -5.74), Microsoft (MSFT 45.60, -1.68), and Caterpillar (CAT 79.36, -2.86) are underperforming. Both Apple and Microsoft are lower after reporting their respective quarterly results which failed to live up to analyst expectations while Caterpillar is trading in negative territory after releasing its 3-month rolling data which showed world machine sales were down 16% in June, and energy & transportation retail sales were down 10%.

Conversely, JP Morgan (JPM 70.10, +1.00) is the best-performing Dow component amid strength in financials, the best performing sector on the day.

For the week, the DJIA is down 1.38, but still up 1.24% in July.

12:55 pm: [BRIEFING.COM] The major averages trade lower across the board at midday with the Nasdaq Composite (-0.8%) trailing the Dow (-0.5%) and S&P 500 (-0.3%).

For the most part, today's retreat can be attributed to significant weakness in the technology sector (-1.7%) after several components reported their earnings. Most notably, Apple (AAPL 124.47, -6.28) has slumped 4.8% after below-consensus iPhone sales growth and cautious guidance for Q4 overshadowed a bottom-line beat. Today's decline in the largest stock by market cap has left a dent in the Nasdaq, but the tech-heavy index has also had to contend with a 3.7% drop in the shares of Microsoft (MSFT 45.70, -1.58) after reporting a loss resulting from $8.4 billion in charges related to the phone unit acquisition from Nokia.

Furthermore, high-beta chipmakers have not done much better with the PHLX Semiconductor Index trading lower by 3.1%. All 30 index components trade in the red with Linear Technology (LLTC 39.85, -3.27) pacing the retreat. The stock has surrendered 7.6% in reaction to disappointing results and below-consensus guidance.

Although the tech sector has weighed the market down, there are still a few pockets of strength left in other influential areas like consumer discretionary (+0.1%), financials (+0.4%), and health care (+0.1%).

The discretionary sector has been boosted by an 8.1% surge in Chipotle (CMG 727.23, +54.16) after the company reported a one-cent beat on below-consensus revenue. Homebuilders have also provided support to the discretionary sector following a better than expected Existing Home Sales report for June (5.49 million; Briefing.com consensus 5.40 million). The iShares Dow Jones US Home Construction ETF (ITB 27.88, +0.47) has climbed 1.7%.

Elsewhere, the health care sector holds a slim gain even though biotechnology lags with the iShares Nasdaq Biotechnology ETF (IBB 393.70, -1.79) trading lower by 0.4%. On the flip side, Thoratec (THOR 63.43, +5.85) has spiked 10.2% after agreeing to be acquired by St. Jude Medical (STJ 76.50, -0.21) for $63.50/share, which represents a 10.3% premium to yesterday's closing price.

On the fixed income side, Treasuries began advancing in the morning, setting session highs around 11:00 ET. The 10-yr note has backed away from that level, but remains in the green with its yield lower by two basis point at 2.31%.

Economic data included FHFA Housing Price Index, Existing Home Sales, and the MBA Mortgage Index:

The FHFA Housing Price Index rose 0.4% in May after increasing 0.4% in April
Existing Home Sales for June increased 3.2% from May to an annualized rate of 5.49 million units while the Briefing.com consensus expected a reading of 5.40 million
The weekly MBA Mortgage Index ticked up 0.1% to follow last week's 1.9% decline

12:25 pm: [BRIEFING.COM] Equity indices have ticked down from their recent levels with the S&P 500 (-0.4%) approaching its session low.

Dip-buyers had flexed their muscles during the opening hour, but even that could not lift the benchmark index back to its flat line. Since then, each rebound attempt has been met with renewed selling. The technology sector (-1.7%) remains above its session low, but consumer discretionary (+0.1%), consumer staples (+0.1%), and health care (+0.1%) have returned into the neighborhood of their flat lines.

Also of note, the energy sector (-0.8%) has lurched to a fresh session low in a move that saw Baker Hughes (BHI 52.82, -7.81) surrender more than three points before being halted for volatility amid reports Halliburton's (HAL 40.56, -1.30) acquisition of BHI is facing an antitrust probe.
Related Quotes

11:55 am: [BRIEFING.COM] Equity indices remain near their recent levels with the S&P 500 trading lower by 0.3%.

The continued weakness in the technology sector (-1.6%) has kept a lid on the broader market even though a handful of other influential sectors trade with modest gains. To that point, consumer discretionary (+0.2%), financials (+0.3%), and health care (+0.2%) trade ahead of the S&P 500.

The discretionary sector has been boosted by Chipotle (CMG 724.84, +51.77), which has spiked 7.8% to a new record high after reporting a one-cent beat on below-consensus revenue. Homebuilders have also provided support to the discretionary sector following a better than expected Existing Home Sales report for June (5.49 million; Briefing.com consensus 5.40 million). The iShares Dow Jones US Home Construction ETF (ITB 27.86, +0.45) has climbed 1.6%.

Elsewhere, the health care sector hovers just above its flat line even though biotechnology lags. On the M&A front, Thoratec (THOR 63.35, +5.77) has surged 10.0% after agreeing to be acquired by St. Jude Medical (STJ 76.35, -0.36) for $63.50/share, representing a 10.3% premium to yesterday's closing price.

11:25 am: [BRIEFING.COM] Equity indices remain in the red with the Nasdaq Composite trading lower by 0.8% after erasing nearly half of its opening decline.

Similar to the Nasdaq, the technology sector (-1.5%) has ticked up off its session low, but high-beta chipmakers have not been as fortunate with the PHLX Semiconductor Index (-3.5%) setting a new session low not long ago. All 30 index components trade in negative territory with Linear Technology (LLTC 39.67, -3.45) down 8.0% after reporting disappointing results and guiding lower.

On the upside, the utilities sector (+0.8%) trades well ahead of other sectors, extending its July gain to 3.9% versus 2.4% for the S&P 500.

10:55 am: [BRIEFING.COM] Not much change in the market with the key indices trading near their opening levels. The S&P 500 (-0.2%) was close to turning positive about 30 minutes ago, but the index could not punch through resistance in the neighborhood of its flat line. As a result, the index is now within five points of its session low.

Five sectors continue holding losses with the top-weighted technology (-1.6%) remaining well behind other sectors. Elsewhere among cyclical groups, the industrial sector (-0.5%) underperform while energy (-0.2%) and materials (-0.1%) hold slimmer losses than the broader market.

Notably, the energy sector has fared relatively well considering crude oil has slumped 1.8% to $49.98/bbl. The energy component set a new low after the storage report from the Energy Information Administration showed an inventory build while the consensus expected a draw.

10:35 am: [BRIEFING.COM]

The dollar traded in a narrow, slightly negative range overnight, before catching lift off the unchanged mark early this morning.
The index extended gains going into the release of this morning's moderately strong US existing home sale data, which propelled the dollar even higher
Crude and precious metals are seeing selling pressure as the index nears its HoD, at +0.4% to 97.67
Crude has been negative all session, showing continued weakness from yesterday's API data, a strengthening dollar and ahead of this morning's EIA inventory report
Upon release of the EIA data, crude popped briefly higher, but quickly moved back near pre-EIA data levels
Now, WTI oil is starting to climb a little higher and is currently at -1.4% to $50.14/barrel
Gold has extended losses made earlier this week, following Monday's Asian gold market, mini flash-crash. Gold has been trending lower since mid-May.
The precious metal has continued to trend lower for the session, and remains well below the $1,100 level at -1.3% to $1088.80/oz. September silver is now -0.5% to $14.71/oz
Natural gas is modestly negative this morning, as moderating weather in the Western US has the commodity -1.3% to $2.85/MMBtu
Copper is currently -1.8% to $2.43/lb

10:00 am: [BRIEFING.COM] The S&P 500 has narrowed its loss to 0.1%.

Just reported, Existing Home Sales for June increased 3.2% from May to an annualized rate of 5.49 million units while the Briefing.com consensus expected a reading of 5.40 million.

9:40 am: [BRIEFING.COM] As expected, the major averages began the trading day in negative territory. The Nasdaq Composite is lower by 0.8% while the Dow (-0.2%) and S&P 500 (-0.2%) trade closer to their flat lines.

Accordingly, the technology sector (-1.6%) is the weakest performing group with Apple (AAPL 123.83, -6.92), Microsoft (MSFT 46.17, -1.11), and Yahoo! (YHOO 38.91, -0.82) pressuring the top-weighted sector. Furthermore, high-beta chipmakers trade lower across the board with the PHLX Semiconductor Index down 2.6%.

On the upside, heavily-weighted consumer discretionary (+0.3%) and financials (+0.3%) display modest gains.

Treasuries have retreated from their highs with the 10-yr yield returning to unchanged at 2.33%.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: -7.40. Nasdaq futures vs fair value: -64.60. The stock market is on track for a lower open as S&P 500 futures trade seven points below fair value. Meanwhile, Nasdaq futures have surrendered 65 points against fair value (-1.4%) as influential tech names pressure the index after reporting earnings.

Most notably, Apple (AAPL 121.40, -9.35) is on track to open lower by 7.2% after its bottom-line beat was overshadowed by below-consensus iPhone sales growth and cautious guidance for Q4. To be fair, Microsoft (MSFT 45.66, -1.62) and Yahoo! (YHOO 38.63, -1.10) have also contributed to the weakness in the futures market. Microsoft reported a loss resulting from $8.4 billion in charges related to the phone unit acquisition from Nokia while Yahoo! missed earnings estimates on better than expected revenue.

Elsewhere, Treasuries traded little changed throughout the night, but they recently climbed to highs, sending the 10-yr yield lower by a basis point to 2.32%.

On the economic front, the FHFA Housing Price Index rose 0.4% in May after increasing 0.4% in April while the Existing Home Sales report for June will be released at 10:00 ET (Briefing.com consensus 5.40 million).

9:02 am: [BRIEFING.COM] S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -65.10. The S&P 500 futures trade eight points below fair value.

The FHFA Housing Price Index for May rose 0.4%, which followed a revised increase of 0.4% in April (from 0.3%).

8:27 am: [BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -62.10. The S&P 500 futures trade eight points below fair value.

Many of the largest markets in the Asia-Pacific region fell prone to selling pressure on Wednesday, following the weak lead from Wall Street on Tuesday and the negative responses to the earnings results and/or guidance after the close from major technology companies in the U.S., namely Apple and Microsoft. China's Shanghai Composite (+0.2%) and India's Sensex (+1.2%) were among the few exceptions.

In economic data:
Japan's All Industries Activity Index -0.5% (consensus -0.5%; prior +0.1%)
Australia's Q2 CPI +0.7% year-over-year (expected 0.8%; last 0.2%); +1.5% year-over-year (consensus 1.7%; last 1.3%)

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Japan's Nikkei declined 1.2%, closing near its low for the session. Losses were paced by the technology (-1.8%), communications (-1.8%), financial (-1.5%), and industrial (-1.5%) sectors. Nippon Suisan Kaisha (-3.5%), Marui Group (-3.3%), and Kyocera (-3.3%) were the worst-performing issues. Mitsui Chemicals (+12.4%), Asahi Glass (+4.8%), and Fujitsu (+2.8%) sat atop the short list of winners. Out of the 225 index members, 39 ended higher, 178 finished lower, and 8 were unchanged.
Hong Kong's Hang Seng declined 1.0% and spent the entirety of its day in negative territory. The technology (-2.6%), consumer cyclical (-1.6%), communications (-1.3%), and financial (-0.9%) sectors were influential weights on the market. Laggards of note included China Resources Land (-4.2%), Cathay Pacific Airways (-2.9%), and Hong Kong Exchanges and Clearing (-2.7%). Sino Land (+1.1%) was one of a handful of stocks to trade higher and the only one that gained at least 1.0%. Out of the 50 index members, 7 ended higher, 42 finished lower, and 1 was unchanged.
China's Shanghai Composite increased 0.2%, aided by a late rally that saw the Composite rally 1.7% off its low for the session. The buy-the-dip action was attributed to the pervasive expectation that the government will keep doing what it can to prevent another major selloff in the market. The CSI 300 Index for its part declined 0.2% on the back of a weak showing from the financial (-1.2%) sector.

Major European indices trade mostly lower while Spain's IBEX (+0.2%) outperforms.

Investors received several data points:
France's July Business Survey rose to 102 from 100 (expected 100)
Italy's May Industrial New Orders -2.5% month-over-month (prior 5.5%); -0.5% year-over-year (consensus 5.5%; last 7.9%). Separately, Industrial Sales +1.2% month-over-month (last -0.5%); +2.4% year-over-year (last -0.2%). Also of note, May Retail Sales -0.1% month-over-month (consensus 0.2%; prior 0.7%); +0.3% year-over-year (expected 0.2%; last 0.0%)

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UK's FTSE is lower by 1.6% with miners leading the retreat. Anglo American, BHP Billiton, Glencore Xstrata, and Fresnillo are down between 4.1% and 4.7%. On the upside, several consumer names display relative strength with Dixons Carphone, easyJet, and TUI up between 0.2% and 3.8%.
Germany's DAX has given up 0.9% with Infineon Technologies showing the largest decline. The tech stock has slumped 4.3% while exporters BMW, Daimler, and Volkswagen show losses between 1.5% and 1.9%. On the upside, financials outperform with Commerzbank and Deutsche Bank both up near 0.6% apiece.
In France, the CAC trades down 0.6% amid losses in 30 of its 40 components. Growth-sensitive Valeo, ArcelorMittal, and Total lead the retreat with losses between 1.8% and 5.3%. On the upside, countercyclical Veolia Environnement and Carrefour hold gains close to 1.0% apiece.
Spain's IBEX sits right above its flat line thanks to strength among the likes of Bankia, Bankinter, Mediaset, FCC, and BBVA. The five names are up between 0.3% and 1.6%.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -7.30. Nasdaq futures vs fair value: -57.30. U.S. equity futures trade near their pre-market lows following yesterday's earnings report from Apple (AAPL 122.30, -8.45). The tech giant beat bottom-line estimates, but missed iPhone sales growth expectations and guided Q4 revenue below analyst estimates. The stock is lower by 6.5% in pre-market action while S&P 500 futures trade seven points below fair value. Also of note, Nasdaq futures have surrendered nearly 60 points.

Elsewhere, Treasuries trade flat with the 10-yr yield at 2.33%.

The weekly MBA Mortgage Index ticked up 0.1% to follow last week's 1.9% decline.

The FHFA Housing Price Index for May will be reported at 9:00 ET and 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).

In U.S. corporate news of note:

ARM Holdings (ARMH 46.83, -0.96): -2.0% after reporting in-line earnings on light revenue.
Boeing (BA 146.75, +1.75): +1.2% after beating estimates and guiding in-line with analyst expectations.
Chipotle Mexican Grill (CMG 680.04, +6.97): +1.0% in reaction to a one-cent beat on below-consensus revenue.
Coca-Cola (KO 41.80, +0.61): +1.5% after reporting a three-cent beat on in-line revenue.
EMC (EMC 24.25, -0.68): -2.7% after below-consensus revenue and guidance overshadowed a bottom-line beat.
GoPro (GPRO 63.00, +0.96): +1.6% following better than expected earnings and revenue.
Linear Technology (LLTC 40.00, -3.12): -7.2% in reaction to disappointing results and below-consensus guidance.
Microsoft (MSFT 45.40, -1.88): -4.0% after reporting a loss resulting from $8.4 billion in charges related to the phone unit acquisition from Nokia.
Yahoo! (YHOO 38.85, -0.88): -2.2% after missing earnings estimates on better than expected revenue.
Whirlpool (WHR 169.55, +3.34): +2.0% after beating bottom-line estimates on light revenue.

Reviewing overnight developments:

Asian markets ended mostly lower. Japan's Nikkei -1.2%, Hong Kong's Hang Seng -1.0%, and China's Shanghai Composite +0.2%
In economic data:
Japan's All Industries Activity Index -0.5% (consensus -0.5%; prior +0.1%)
Australia's Q2 CPI +0.7% year-over-year (expected 0.8%; last 0.2%); +1.5% year-over-year (consensus 1.7%; last 1.3%)
In news:
Reserve Bank of Australia Governor Glenn Stevens discussed Australia's monetary policy overnight, saying the central bank has more room for easing if need be.
Major European indices trade mostly lower. UK's FTSE -1.3%, Germany's DAX -0.6%, France's CAC -0.4%. Elsewhere, Italy's MIB -0.2% and Spain's IBEX +0.2%
Investors received several data points:
France's July Business Survey rose to 102 from 100 (expected 100)
Italy's May Industrial New Orders -2.5% month-over-month (prior 5.5%); -0.5% year-over-year (consensus 5.5%; last 7.9%). Separately, Industrial Sales +1.2% month-over-month (last -0.5%); +2.4% year-over-year (last -0.2%). Also of note, May Retail Sales -0.1% month-over-month (consensus 0.2%; prior 0.7%); +0.3% year-over-year (expected 0.2%; last 0.0%)
Among news of note:
The Bank of England released the minutes from its latest meeting, which showed all nine policymakers firmly entrenched in the 'no change' camp.

5:51 am: [BRIEFING.COM] S&P futures vs fair value: -5.60. Nasdaq futures vs fair value: -47.90.

5:51 am: [BRIEFING.COM] Nikkei...20593.67...-248.30...-1.20%. Hang Seng...25282.62...-253.80...-1.00%.

5:51 am: [BRIEFING.COM] FTSE...6714.61...-54.60...-0.80%. DAX...11564.45...-40.40...-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
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com
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