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 Post subject: July 23rd Thursday Trade Results - Profit $2850.00
PostPosted: Fri Jul 24, 2015 5:56 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:
072315-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2850.00.png
072315-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2850.00.png [ 94.86 KiB | Viewed 366 times ]

click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $2,600.00 dollars or +26.00 points, Emini ES ($ES_F) futures @ $250.00 dollars or +5.00 points, Light Crude Oil CL ($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 @ $2850.00 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=2129

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 registered its third consecutive decline on Thursday with the Dow Jones Industrial Average surrendering 0.7% while the S&P 500 (-0.6%) and Nasdaq Composite (-0.5%) posted slimmer losses.

Equities spent the first two hours of action near their flat lines before sliding to session lows amid selling pressure in heavily-weighted sectors like consumer discretionary (-0.6%), financials (-0.8%), and industrials (-0.9%). That being said, all ten sectors ended the day with losses, but relative strength in the top-weighted technology sector (-0.3%) prevented the market from ending deeper in the red. Taking a look at the bigger picture, the S&P 500 settled below its 50-day moving average (2,103) for the first time in nearly two weeks.

Quarterly earnings were in focus on Thursday after more than 175 companies reported their results since Wednesday's closing bell. Broadly speaking, bottom-line beats were commonplace, but many companies failed to show year-over-year revenue growth.

Four Dow components were among those reporting and all four ended the day with losses. American Express (AXP 77.01, -1.98) and 3M (MMM 149.50, -5.91) lost 2.5% and 3.8%, respectively, after reporting bottom-line beats on below-consensus revenue while Caterpillar (CAT 76.88, -2.88) fell 3.6% in reaction to an in-line report and lowered guidance. For its part, McDonald's (MCD 97.09, -0.49) lost 0.5% despite reporting a three-cent beat.

The four Dow members pressured their respective sectors while technology (-0.3%) settled ahead of the broader market thanks to gains among chipmakers. The PHLX Semiconductor Index gained 1.5% after being up as much as 2.7% in the early going. Only five index members ended in the red while SanDisk (SNDK 63.70, +9.52) soared 17.6% after beating earnings and revenue expectations. As for large cap tech components, Apple (AAPL 125.16, -0.06) and Microsoft (MSFT 46.11, +0.57) registered gains while Qualcomm (QCOM 61.75, -2.44) dropped 3.8% after its cautious guidance overshadowed a bottom-line beat. Also of note, the company announced plans to reduce its semiconductor division by about 15%.

Similar to technology, the energy sector (-0.3%) finished ahead of the broader market even though crude oil lost 1.8%, ending the pit session at $48.39/bbl. Including today's decline, the energy sector is down 2.1% for the week and lower by 5.5% since the end of June.

Over on the countercyclical side, utilities (-1.5%) underperformed throughout the day while consumer staples (-0.4%), health care (-0.3%), and telecom services (-0.6%) settled closer to the broader market.

The modest loss in the health care sector masked a 2.2% spike in the shares of Cigna (CI 154.36, +3.29) after the Wall Street Journal reported the company is close to being acquired by Anthem (ANTM 155.21, +0.11) for about $188/share.

Treasuries maintained narrow ranges overnight, but climbed during the session with the 10-yr yield falling five basis points to 2.27%.

Today's participation was ahead of recent averages with more than 835 million shares changing hands at the NYSE floor.

Economic data was limited to Initial Claims and Leading Indicators:
Related Stories

InPlay from Briefing.com Briefing.com
Wall Street falls for third day as earnings fall short Reuters
How the Dow Jones industrial average fared on Wednesday Associated Press
US STOCKS SNAPSHOT-Nasdaq ends at record high after Google Reuters
US STOCKS-Nasdaq rebounds but weak results weigh on Dow, S&P Reuters

The initial claims level plummeted to 255,000 for the week ending July 18 from an unrevised 281,000 while the Briefing.com consensus expected a decline to 279,000
That was the lowest initial claims reading since November 1973 when claims dropped to 233,000
The BLS reported that there were no special factors that impacted this week's claims reading
The continuing claims level declined to 2.207 million for the week ending July 11 from an upwardly revised 2.216 million (from 2.215 million) while the consensus expected a decrease to 2.213 million
The Leading Indicators report for June was up 0.6% while the Briefing.com consensus expected an increase of 0.2%

Tomorrow's economic data will be limited to the New Home Sales report for June, which will be released at 10:00 ET (Briefing.com consensus 550K).

Nasdaq Composite +8.7% YTD
Russell 2000 +3.3% YTD
S&P 500 +2.1% YTD
Dow Jones Industrial Average -0.5% YTD

3:35 pm: [BRIEFING.COM]

WTI crude oil futures sold off today
Front-month crude finished the day 2% lower at $48.39/barrel
In other energy, Aug natural gas dropped 3.1% today to $2.81/MMBtu
Metals showed a mixed day
Aug gold rose 0.2% to $1094.10/oz, while Sept silver fell -0.1% to $14.71/oz
Copper extends recent losses. Front-month Sept copper closed 2% lower today to $2.39/lb

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.6% with one hour remaining in the session.

Investors received a heavy batch of earnings since yesterday's closing bell and another heavy dose will be released between today's close and tomorrow's open. More than 70 quarterly reports will be released after today's closing bell with AT&T (T 33.92, -0.35), Amazon (AMZN 480.27, -8.00), Starbucks (SBUX 56.61, -0.08), and Visa (V 71.30, -0.67) leading the after-hours parade.

Things will slow down a bit tomorrow as 30 reports will be released before the open with American Airlines (AAL 42.48, +1.05), Biogen (BIIB 387.96, -3.78), and V.F. Corp (VFC 74.75, +0.58) headlining the list.

2:25 pm: [BRIEFING.COM] Equity indices remain near their lows with the S&P 500 (-0.4%) hovering about three points above its worst level of the day.

Nine sectors continue holding losses while the technology sector (+0.1%) remains just above its flat line thanks to the daylong strength among chipmakers. However, other high-beta groups have not shown comparable strength. For instance, the Dow Jones Transportation Average trades lower by 1.7% with all but three components showing losses. Meanwhile, the broader industrial sector (-0.6%) trails the broader market.

Similarly, homebuilders also trade behind the broader market, evidenced by the iShares Dow Jones US Home Construction ETF (ITB 27.85, -0.14), which trades lower by 0.5% despite a slim bottom-line beat reported by PulteGroup (PHM 20.28, +0.12).

1:55 pm: [BRIEFING.COM] The S&P 500 trades roughly five points above its session low.

The initial claims level reached a historic low this week.

After a few weeks of persistently climbing initial claims, the initial claims level plummeted to 255,000 for the week ending July 18 from an unrevised 281,000 for the week ending July 11. The Briefing.com Consensus expected the initial claims level to decline to 279,000.

That is the lowest initial claims reading since November 1973 when the initial claims level dipped to 233,000.

The BLS reported that there were no special factors that impacted this week's claims reading. There weren't any economic or business reports that would explain the big decline either.

Given the historical nature of the decline, it is likely that the initial claims level will spike back up next week as a result of normal volatility before settling back into the 275,000 -- 290,000 range.

1:30 pm: [BRIEFING.COM] The major indices continue to selloff and are currently sitting just above their session lows.

A look inside the Dow Jones Industrial Average shows 3M (MMM 149.51, -5.90), Caterpillar (CAT 76.94, -2.82), and American Express (AXP 76.49, -2.50) are underperforming after each reporting their quarterly results.

Conversely, Cisco (CSCO 27.99, +0.46) is the best-performing Dow component on strength in tech, the strongest sector in today's action, as well as on the announcement that it would sell its customer premises equipment business to Technicolor for ~$600 mln.

For the week, the DJIA is down 1.9%, and now down 0.45% for the year.

12:55 pm: [BRIEFING.COM] The major averages hover near their lows at midday with the Dow Jones Industrial Average (-0.6%) and S&P 500 (-0.5%) trading behind the Nasdaq Composite (-0.3%).

Equity indices displayed slight gains at the start, but selling pressure emerged in most sectors, driving the broader market lower. The tech-heavy Nasdaq remains just ahead of the S&P 500 thanks to the relative strength in the technology sector (-0.1%).

Investors received a full batch of quarterly results between yesterday's closing bell and today's open. Four Dow components were among those reporting and all four trade with losses at this juncture. American Express (AXP 76.44, -2.55) and 3M (MMM 150.10, -5.31) reported bottom-line beats on below-consensus revenue while Caterpillar (CAT 77.21, -2.55) reported in-line and lowered its guidance. For its part, McDonald's (MCD 96.96, -0.62) delivered a three-cent beat.

The four names have contributed to the relative weakness among financials (-0.8%), industrials (-0.6%), and consumer discretionary (-0.5%) while the top-weighted technology sector sits just below its flat line. Chipmakers are responsible for some of that relative strength, evidenced by a 1.4% jump in the PHLX Semiconductor Index. SanDisk (SNDK 63.02, +8.84) is a standout performer, trading higher by 16.3% after beating earnings and revenue expectations.

As for large cap tech components, Apple (AAPL 125.89, +0.67) and Microsoft (MSFT 45.91, +0.37) hold respective gains of 0.6% and 0.8% to follow yesterday's weakness while Qualcomm (QCOM 61.34, -2.84) has given up 4.4% after cautious guidance overshadowed a bottom-line beat. Also of note, the company announced plans to reduce its semiconductor division by about 15%.

Over on the countercyclical side, the utilities sector (-1.7%) lags while consumer staples (-0.4%), health care (-0.3%), and telecom services (-0.4%) trade ahead of the S&P 500. In the health care sector, insurer Cigna (CI 154.16, +3.09) has climbed 2.0% after the Wall Street Journal reported the company is close to being acquired by Anthem (ANTM 154.74, -0.36) for about $188/share.

Treasuries have recently marked new highs for the day with the 10-yr yield down two basis points at 2.30%.

Economic data was limited to Initial Claims and Leading Indicators:

The initial claims level plummeted to 255,000 for the week ending July 18 from an unrevised 281,000 while the Briefing.com consensus expected a decline to 279,000
That was the lowest initial claims reading since November 1973 when claims dropped to 233,000
The BLS reported that there were no special factors that impacted this week's claims reading
The continuing claims level declined to 2.207 million for the week ending July 11 from an upwardly revised 2.216 million (from 2.215 million) while the consensus expected a decrease to 2.213 million
The Leading Indicators report for June was up 0.6% while the Briefing.com consensus expected an increase of 0.2%

12:25 pm: [BRIEFING.COM] Another round of new lows for the major averages with the S&P 500 trading lower by 0.5%.

For the time being, only materials (-1.3%) and utilities (-1.8%) show losses larger than 1.0%, but that could change soon, considering the market has been marching lower in undisturbed fashion since about 11:00 ET.

That being said, the top-weighted technology sector (unch) remains near its flat line while the PHLX Semiconductor Index trades higher by 1.1%. The relative strength in technology could support a rebound if dip-buyers choose to attack some of today's weak spots like consumer discretionary (-0.5%), financials (-0.9%), and energy (-0.7%).
Related Quotes

11:55 am: [BRIEFING.COM] Steady selling pressure has sent the S&P 500 (-0.3%) to a new session low while the Nasdaq is now below its flat line.

The technology sector (+0.3%) remains in the green thanks to continued strength among chipmakers while the other nine groups display losses between 0.2% (health care and consumer staples) and 1.8% (utilities). With just one more session remaining this week, all ten sectors are on course to register weekly losses. The materials sector has surrendered 2.9% since last Friday amid weakness in commodities while consumer discretionary, financials, and health care have fared a bit better. The three influential sectors all show weekly losses close to 0.1% apiece.

Elsewhere, Treasuries have returned to their morning highs with the 10-yr yield lower by a basis point at 2.31%.

11:25 am: [BRIEFING.COM] Recent action saw the S&P 500 (-0.1%) return into the red while the Nasdaq (+0.3%) continues showing relative strength thanks to gains in technology and biotechnology.

As mentioned earlier, the technology sector (+0.6%) remains well ahead of other groups while the health care sector (+0.1%) hovers just above its flat line. On a related note, the iShares Nasdaq Biotechnology ETF (IBB 396.74, +2.39) trades higher by 0.6%. Also of note, insurer Cigna (CI 155.52, +4.45) has climbed 3.0% amid reports the company is close to being acquired by Anthem (ANTM 155.24, +0.14) for about $188/share.

On the downside, the utilities sector (-1.6%) is the weakest performing group.

10:55 am: [BRIEFING.COM] The S&P 500 (+0.1%) has returned into the green while the Nasdaq Composite has extended its gain to 0.4%.

The energy sector was among the early leaders, but the growth-sensitive group has narrowed its gain to 0.1% while the top-weighted technology sector (+0.5%) has seized the lead. Chipmakers struggled yesterday, but the high-beta group has underpinned the sector today. The PHLX Semiconductor Index trades up 2.3% with SanDisk (SNDK 63.53, +9.35) surging 17.4% after beating earnings and revenue estimates.

Furthermore, large cap tech names have also shown strength with Apple (AAPL 126.68, +1.47) and Microsoft (MSFT 46.02, +0.48) both up near 1.1%.

10:35 am: [BRIEFING.COM]

The dollar index trended negative overnight, catching a slightly bounce off of session lows near 96.9 ahead of the morning's US unemployment data release.
Upon release of the data (showing more positive for the US economy than expected) the dollar immediately rallied toward the flatline for the morning.
The upward move failed to extend however, and the index is now -0.4% to 97.18
Crude traded near the flat line overnight, following yesterday's drop on the release of EIA data which showed a build in inventories (versus draw expectations).
The September contract then rose substantially, fueled partially by the dollar's failed rally, and is now +0.3% to $49.31/barrel
Natural gas traded red-to-green this morning, ahead of this morning's EIA weekly storage data, which was expected to show a modest build in inventories
Upon release of the data, the August contract initially spiked higher, then fell in the red and is now -0.4% to $2.89/MMBtu
Copper is showing losses so far for the session, as a bearish report by Goldman Sachs has amplified continuing concern for the metal's demand.
Copper just hit a new low for the day, and is now -0.7% to $2.41/lb
Precious metals are trading broadly up, with gold off yesterday's five year lows at +0.4% to $1095/oz . Silver is +0.1% to $14.74/oz

10:00 am: [BRIEFING.COM] The S&P 500 remains lower by 0.1% while the Nasdaq Composite (+0.1%) continues trading just ahead.

Just released, the Leading Indicators report for June was up 0.6% while the Briefing.com consensus expected an increase of 0.2%.

9:45 am: [BRIEFING.COM] As expected, the major averages began the trading day near their flat lines. The S&P 500 sits just below its unchanged level while the Nasdaq Composite (+0.1%) outperforms slightly.

Four sectors trade with early gains, paced by the energy sector (+0.4%) while the top-weighted technology space (+0.2%) follows not far behind. On the downside, the utilities sector (-1.0%) is the weakest performer.

Elsewhere, Treasuries have returned to their flat lines with the 10-yr yield at 2.32%.

The Leading Indicators report for June will be released at 10:00 ET (consensus 0.2%).

9:10 am: [BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +2.90. The stock market is on track for a flat open as S&P 500 futures trade within a point of fair value. In fact, futures have traded inside narrow ranges throughout the night, seeing little movement despite an avalanche of quarterly earnings that have crossed since last evening.

The full list of quarterly results is available on the Briefing.com earnings calendar, but it is worth noting that Dow components 3M (MMM 153.00, -2.41), American Express (AXP 77.78, -1.21), Caterpillar (CAT 77.66, -2.10) are on track to open in the red after while McDonald's (MCD 98.60, +1.02) is indicated higher. American Express and 3M reported bottom-line beats on below-consensus revenue while Caterpillar reported in-line and lowered its guidance. For its part, McDonald's delivered a three-cent beat.

On a separate note, Cigna (CI 158.80, +7.73) has jumped 5.1% in pre-market after the Wall Street Journal reported the company is close to being acquired by Anthem (ANTM 157.60, +2.50) for about $188/share. Treasuries sit near their lows with the 10-yr yield higher by a basis point at 2.33%.

Treasuries slipped from their highs after the weekly initial jobless claims count declined to 255,000 from 281,000 while the Briefing.com consensus expected a reading of 279,000.

The Leading Indicators report for June will be released at 10:00 ET (consensus 0.2%).

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +3.90. The S&P 500 futures trade one point above fair value.

There were plenty of losers in the Asia-Pacific region on Thursday, which flowed from the weak showing from technology stocks in the U.S. The region's three most closely followed markets, however -- the Nikkei, the Hang Seng, and the Shanghai Composite -- all advanced. The latter was the big winner, jumping 2.4%. Since bottoming on July 9, the Shanghai Composite has risen 22.2%.

In economic data:
Japan's June Trade Balance -JPY69.0 bln (expected JPY5.0 bln; prior -JPY216.0 bln) as Exports +9.5% year-over-year (expected +10.0%; prior +2.4%) and Imports -2.9% (expected -4.0%; prior -8.7%)
South Korea's Q2 GDP +0.3% quarter-over-quarter (expected +0.4%; prior +0.8%); +2.2% year-over-year (expected +2.3%; prior +2.5%)
Australia's NAB Quarterly Business Confidence 4.0 (prior 0.0)
Singapore's June CPI -0.3% year-over-year (expected -0.3%; prior -0.4%)

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Japan's Nikkei increased 0.4% and closed near its highs for the session following better than expected export and import data for June. Leading sectors included consumer staples (+2.0%), consumer discretionary (+0.9%), communications (+0.9%), and financial (+0.6%). Oji Holdings (+3.9%), UNY Group Holdings (+3.8%), and Kao Corp (+3.7%) were the best-performing issues. Eisai Co (-5.9%), Sumco Corp (-5.5%), and Sharp Corp (-4.0%) were the biggest losers. Out of the 225 index members, 123 ended higher, 95 finished lower, and 7 were unchanged.
Hong Kong's Hang Seng increased 0.5%. Individual standouts included Sands China (+7.9%), which rallied strongly in the wake of the earnings report from las Vegas Sands, Galaxy Entertainment (+4.5%), which also rode the coattails of that report, and AIA Group (+2.2%). The biggest laggards were Cheung Kong Property Holdings (-1.1%) and China Unicom Hong Kong (-1.1%). Out of the 50 index members, 31 ended higher, 15 finished lower, and 4 were unchanged.
China's Shanghai Composite surged 2.4% and closed near its highs for the session in a trend-up day. Steady buying efforts were supported by continued confidence in the government's measures to prop up stock prices. Thursday marked the sixth straight day of gains for the Composite, which has climbed 8.4% in that period. Since hitting an interim low on July 9, the Composite has risen 22.2%. The CSI 300 Index increased 2.3% on Thursday.

Major European indices trade near their flat lines after the Greek Parliament voted 230-63-5 in favor of the second set of reforms required to begin bailout talks with eurozone creditors.

Economic data was limited:
Spain's Q2 Unemployment Rate declined to 22.37% from 23.78% (expected 23.10%)
Italy's June non-EU trade surplus narrowed to EUR2.27 billion from EUR2.87 billion
UK's June Retail Sales -0.2% month-over-month (expected 0.3%; prior 0.3%); +4.0% year-over-year (consensus 4.9%; last 4.7%). Separately, June Core Retail Sales -0.2% month-over-month (expected 0.3%; last 0.4%); +4.2% year-over-year (consensus 5.0%; last 4.5%)

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Germany's DAX is lower by 0.1% with exporters Continental and Daimler lower by 1.1% and 2.0%, respectively. On the upside, Commerzbank has added 0.5% after agreeing to sell one of its subsidiaries to KKR. Peer Deutsche Bank trades higher by 1.1%.
UK's FTSE trades flat with Aberdeen Asset Management trailing the market with a 7.6% decline after seeing GBP9.9 billion in outflows during the past quarter. Energy names also lag with BG Group, BP, and Royal Dutch Shell down between 0.4% and 1.1%. On the upside, miners display gains with Randgold Resources and Fresnillo trading higher by 1.8% and 2.1%, respectively.
In France, the CAC is up 0.1%. Exporters Peugeot and Renault are among the laggards with losses close to 1.1% apiece while financials outperform. BNP Paribas, Credit Agricole, and Societe Generale are up between 0.2% and 0.7%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +7.40. The S&P 500 futures trade two points above fair value.

The latest weekly initial jobless claims count totaled 255,000 while the Briefing.com consensus expected a reading of 279,000. Today's tally was below the unrevised prior week count of 281,000. As for continuing claims, they fell to 2.207 million from 2.216 million.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +10.70. U.S. equity futures trade little changed following a range-bound night that saw S&P 500 futures trade inside a five-point range. Currently, futures on the benchmark index hover three points above fair value.

Today's economic data will be limited to weekly Initial Claims, which will be released at 8:30 ET (Briefing.com consensus 279K), and June Leading Indicators (consensus 0.2%), which will be reported at 10:00 ET.

Treasuries hover just above their flat lines with the 10-yr yield at 2.32%.

In U.S. corporate news of note:

3M (MMM 155.40, -0.01): unch after reporting a three-cent beat on below-consensus revenue.
American Express (AXP 77.15, -1.84): -2.3% after reporting a bottom-line beat on below-consensus revenue.
Cigna (CI 158.00, +6.93): +4.6% after the Wall Street Journal reported the company is close to being acquired by Anthem (ANTM 160.04, +4.94) for about $188/share.
Cirrus Logic (CRUS 33.91, +3.20): +10.4% in reaction to better than expected results and upbeat guidance.
Credit Suisse (CS 30.20, +2.12): +7.6% after beating earnings and revenue estimates.
F5 Networks (FFIV 126.00, +7.50): +6.3% after beating bottom-line estimates and guiding ahead of analyst expectations.
Fortinet (FTNT 47.20, +4.90): +11.6% following above-consensus earnings and revenue.
General Motors (GM 32.25, +1.95): +6.4% after beating earnings estimates and reaffirming its outlook.
Qualcomm (QCOM 63.10, -1.09): -1.7% after cautious guidance overshadowed a bottom-line beat. Also of note, the company announced plans to reduce its semiconductor division by about 15%.
Las Vegas Sands (LVS 56.75, +1.79): +3.3% despite missing earnings and revenue estimates.
SanDisk (SNDK 60.82, +6.64): +12.3% after beating earnings and revenue expectations.
Southwest Airlines (LUV 37.25, +2.13): +6.1% following its one-cent beat.
Texas Instruments (TXN 49.50, +0.20): +0.4% despite reporting a one-cent miss and guiding Q3 results below analyst estimates.

Reviewing overnight developments:

Asian markets ended mixed, but China's Shanghai Composite (+2.4%), Hong Kong's Hang Seng (+0.5%), and Japan's Nikkei (+0.4%) posted gains
In economic data:
Japan's June Trade Balance -JPY69.0 bln (expected JPY5.0 bln; prior -JPY216.0 bln) as Exports +9.5% year-over-year (expected +10.0%; prior +2.4%) and Imports -2.9% (expected -4.0%; prior -8.7%)
South Korea's Q2 GDP +0.3% quarter-over-quarter (expected +0.4%; prior +0.8%); +2.2% year-over-year (expected +2.3%; prior +2.5%)
Australia's NAB Quarterly Business Confidence 4.0 (prior 0.0)
Singapore's June CPI -0.3% year-over-year (expected -0.3%; prior -0.4%)
In news:
The Reserve Bank of New Zealand cut its main lending rate 25 basis points to 3.00%, as expected

Major European indices trade near their flat lines. Germany's DAX -0.2%, France's CAC -0.1%, and UK's FTSE trades flat. Elsewhere, Italy's MIB +0.1% and Spain's IBEX -0.1%
Economic data was limited:
Spain's Q2 Unemployment Rate declined to 22.37% from 23.78% (expected 23.10%)
Italy's June non-EU trade surplus narrowed to EUR2.27 billion from EUR2.87 billion
UK's June Retail Sales -0.2% month-over-month (expected 0.3%; prior 0.3%); +4.0% year-over-year (consensus 4.9%; last 4.7%). Separately, June Core Retail Sales -0.2% month-over-month (expected 0.3%; last 0.4%); +4.2% year-over-year (consensus 5.0%; last 4.5%)
Among news of note:
The Greek Parliament voted 230-63-5 in favor of the second set of reforms required to begin bailout talks with eurozone creditors

5:50 am: [BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +14.20.

5:50 am: [BRIEFING.COM] Nikkei...20683.95...+90.30...+0.40%. Hang Seng...25398.85...+116.20...+0.50%.

5:50 am: [BRIEFING.COM] FTSE...6671.65...+4.30...+0.10%. DAX...11551.84...+31.20...+0.30%.

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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