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 Post subject: July 30th Thursday Trade Results - Profit $1500.00
PostPosted: Fri Jul 31, 2015 4:01 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1250.00 dollars or +12.50 points, Emini ES ($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 @ $1500.00 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=2134

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 Thursday session on a slightly higher note after rebounding off its opening low. The S&P 500 settled just above its flat line while the Nasdaq Composite (+0.3%) outperformed.

Equity indices faced some early weakness after the overnight session saw renewed selling in China that sent the Shanghai Composite lower by 2.2%. Furthermore, equity futures dropped to new lows ahead of the opening bell after the advance reading of Q2 GDP pointed to an expansion of 2.3%, while the Briefing.com consensus expected a reading of 2.5%. Meanwhile, the first quarter reading was revised up to 0.6% from -0.2%.

This morning's GDP report was met with a rally in the Treasury market as the 10-yr note spiked off its low and continued advancing into the afternoon, dropping its yield three basis points to 2.26%.

Six sectors registered gains with the rate-sensitive utilities sector (+0.7%) holding the lead throughout the day. The sector extended its weekly gain to 2.9%, benefiting from today's decline in yields. Elsewhere among countercyclical groups, telecom services (+0.3%) settled in the green while health care (-0.2%) and consumer staples (-0.3%) registered modest losses.

Notably, the staples sector was pressured by Procter & Gamble (PG 77.44, -3.18) as the Dow component retreated 3.9% despite reporting better than expected results. For its part, the health care sector registered a slim loss after 50 sector components reported earnings. AstraZeneca (AZN 33.74, +0.73) climbed 2.2% in reaction to a bottom-line beat while Cigna (CI 143.90, -1.51) lost 1.0% despite beating earnings expectations. As for biotechnology, the high-beta industry group struggled early, but iShares Nasdaq Biotechnology ETF (IBB 378.96, +1.53) ended higher by 0.4%.

Staying on the high-beta theme, chipmakers helped the technology sector (+0.1%) erase its early loss, which also lifted the Nasdaq Composite. NXP Semiconductor (97.87, +6.07) was a standout performer, surging 6.6% in reaction to a bottom-line beat on cautious guidance. Meanwhile, the broader PHLX Semiconductor Index climbed 0.4%.

Similar to technology, consumer discretionary (+0.3%), financials (+0.1%), and materials (+0.5%) posted gains while other growth-sensitive groups ended in the red. The energy sector (-0.6%) finished at the bottom of the leaderboard after several sector components reported earnings. Marathon Petroleum (MPC 53.94, -1.87) gave up 3.4% in reaction to disappointing results while ConocoPhillips (COP 52.07, -0.83) lost 1.6% despite delivering a bottom-line beat. On the upside, Royal Dutch Shell (RDS.A 57.37, +1.97) jumped 3.6% after reporting better than expected results and announcing plans to cut costs.

Today's participation was a bit below totals registered earlier in the week as 770 million shares changed hands at the NYSE floor.

Economic data reported today included Q2 GDP and Initial Claims:

GDP increased 2.3% in the advance estimate of for the second quarter, up from an upwardly revised 0.6% (from -0.2%) increase in Q1 2015 while the Briefing.com consensus expected an increase of 2.5%
Real final sales, which exclude inventories, rose 2.4% in the second quarter, up a 0.2% decline in the first quarter
Almost the entire increase in GDP was the result of a 2.9% increase in real personal consumption spending, which contributed 2.0 percentage points to second quarter growth
Goods spending increased 4.8% after increasing 1.1% in the first quarter. That was the strongest increase in goods spending since a 6.7% gain in Q2 2014
Services spending increased 2.1% for a second consecutive quarter
The weekly initial claims level increased to 267,000 from an unrevised 255,000 while the Briefing.com consensus expected an increase to 272,000
The four-week moving average dropped to 275,000 from 278,000, signaling a labor market that is nearing full employment
The continuing claims level increased to 2.262 mln for the week ending July 18 from an upwardly revised 2.216 mln (from 2.207 mln) for the week ending July 11 while the consensus expected a decrease to 2.200 mln

Tomorrow, the Q2 Employment Cost Index will be released at 8:30 ET (Briefing.com consensus 0.6%) while the Chicago PMI for July (consensus 50.5) will be reported at 9:45 ET. The day's data will be topped off with the 10:00 ET release of the final reading of the Michigan Sentiment index for July (consensus 94.0).

Nasdaq Composite +8.3% YTD
S&P 500 +2.4% YTD
Russell 2000 +2.2% YTD
Dow Jones Industrial Average -0.4% YTD

3:40 pm: [BRIEFING.COM]

The dollar index traded higher all day, which helped weigh on commodities.
WTI crude oil is trading lower today as well as natural gas futures.
WTI crude oil finished today's session -0.5% to $48.52/barrel, while natural gas lost -3.3% at $2.77/MMBtu (both Sept contracts)
Sept copper fell 1.2% today to $2.38/lb, while in the precious metals space, Aug gold declined 0.4% to $1088.30/oz and Sept silver fell 0.1% to $14.70/oz

2:55 pm: [BRIEFING.COM] The S&P 500 trades flat with one hour remaining in the Thursday session.

The benchmark index slumped at the start of the trading day, but was able to find support in the neighborhood of its 100-day moving average (2,096) with the subsequent rebound lifting the index back above its 50-day average (2,100). However, the S&P 500 has yet to make a sustained move into the green while the Nasdaq (+0.4%) has held a modest gain since the early afternoon.

The technology sector was among the early laggards, but the group has rallied alongside the Nasdaq Composite. Furthermore, chipmakers have added to their gains with the PHLX Semiconductor Index now up 0.7%.

2:25 pm: [BRIEFING.COM] Equity indices remain near their best levels of the session with the S&P 500 (-0.1%) holding a slight loss while the Nasdaq Composite (+0.4%) continues trading ahead.

The S&P 500 had made a brief appearance in the green shortly after 13:00 ET, but the index has inched back into negative territory as five sectors hold losses. The energy sector (-1.0%) remains behind other groups while the consumer staples sector (-0.4%) is the second-weakest performer as Procter & Gamble (PG 77.42, -3.20) continues pressuring the countercyclical sector.

On the upside, the utilities sector (+0.7%) leads while the other advancers hold gains slimmer than 0.3% apiece.

1:55 pm: [BRIEFING.COM] The S&P 500 remains just below its flat line.

Economic growth accelerated in the second quarter.

GDP increased 2.3% in the advance estimate of Q2 2015 GDP, up from an upwardly revised 0.6% (from -0.2%) increase in Q1 2015. The Briefing.com Consensus expected GDP to increase 2.5%.

Real final sales, which exclude inventories, rose 2.4% in the second quarter, up a 0.2% decline in the first quarter. That was the strongest increase in real final sales since a 4.3% gain in Q3 2014.

Almost the entire increase in GDP was the result of a 2.9% increase in real personal consumption spending, which contributed 2.0 percentage points to second quarter growth. Spending increased only 1.8% in the first quarter.

The BEA included revisions to their seasonal adjustment factors in this release along with the normal annual revisions. Residual seasonal effects were blamed for unusually low first quarter growth rates in years past and, subsequently, unusually strong second quarter growth rates.

As expected, revisions to past first quarters generally were upgraded. That included revisions to 2012 (2.7% from 2.3%), 2014 (-0.9% from -2.1%), and 2015 (0.6% from -0.2%). The only downward revision came in 2013, where GDP was revised to 1.9% from 2.7%.

Surprisingly, second quarter GDP growth rates did not follow the expected pattern. While 2013 growth was revised down (1.1% from 1.8%), that was likely the result of the aforementioned negative revisions and not from seasonal adjustments. The growth rates in 2012 were revised higher (1.9% from 1.6%) and were left unchanged (4.6%) in 2014.

1:30 pm: [BRIEFING.COM] The major U.S. indices continue their bounce off earlier lows and are sitting at new session highs.

A look inside the Dow Jones Industrial Average shows Microsoft (MSFT 47.34, +1.05), United Technologies (UTX 100.95, +1.59), and Visa (V 76.73, +0.72) are outperforming.

Conversely, Procter & Gamble (PG 77.64, -2.94) is the worst-performing Dow component after reporting mixed quarterly results.

For the week, the DJIA is up 1.05%.

Elsewhere, the $29 bln 7-year auction at the top of the hour drew a high yield of 2.021% on a bid-to-cover of 2.47.

12:55 pm: [BRIEFING.COM] The major averages hover near their flat lines at midday after climbing off their opening lows. The S&P 500 (-0.1%) remains just below its unchanged level after erasing a 14-point loss while the Nasdaq Composite (+0.3%) has turned positive thanks to relative strength among chipmakers.

Equities faced some selling pressure in the early going after a late slide in China's Shanghai Composite (-2.2%) weighed on investor sentiment. For its part, the S&P 500 retreated through the first hour, notching its session low just below the 100-day moving average (2,096) before erasing the bulk of its loss.

Five sectors hold midday gains with utilities (+0.7%) in the lead. More notably, consumer discretionary (+0.2%) and technology (+0.1%) trade ahead of the benchmark index after struggling in the early going.

The top-weighted technology sector has rebounded with chipmakers responsible for the recovery. The PHLX Semiconductor Index is higher by 0.3% with NXP Semiconductor (NXPI 97.09, +5.29) spiking 5.8% after its bottom-line beat overshadowed cautious revenue guidance for Q3. Meanwhile, large cap tech names continue showing relative weakness with Apple (AAPL 122.26, -0.73), Google (GOOGL 660.14, -1.29), and Facebook (FB 94.58, -2.41) down 0.6%, 0.2%, and 2.5%, respectively. Interestingly, Facebook has retreated despite beating earnings and revenue expectations.

Elsewhere among cyclical sectors, the energy space (-0.6%) sits at the bottom of today's leaderboard after several sector components reported earnings. Marathon Petroleum (MPC 53.45, -2.36) has given up 4.2% in reaction to disappointing results while ConocoPhillips (COP 52.38, -0.52) trades down 1.0% despite delivering a bottom-line beat. On the upside, Royal Dutch Shell (RDS.A 57.24, +1.84) has jumped 3.3% after reporting better than expected results and announcing plans to cut costs.

Moving to the fixed income side, Treasuries notched their lows before the open and they have rallied steadily since then. The 10-yr note sits just below its session high with the benchmark yield down three basis points at 2.26%.

Economic data reported today included Q2 GDP and Initial Claims:

GDP increased 2.3% in the advance estimate of for the second quarter, up from an upwardly revised 0.6% (from -0.2%) increase in Q1 2015 while the Briefing.com consensus expected an increase of 2.5%
Real final sales, which exclude inventories, rose 2.4% in the second quarter, up a 0.2% decline in the first quarter
Almost the entire increase in GDP was the result of a 2.9% increase in real personal consumption spending, which contributed 2.0 percentage points to second quarter growth
Goods spending increased 4.8% after increasing 1.1% in the first quarter. That was the strongest increase in goods spending since a 6.7% gain in Q2 2014
Services spending increased 2.1% for a second consecutive quarter
The weekly initial claims level increased to 267,000 from an unrevised 255,000 while the Briefing.com consensus expected an increase to 272,000
The four-week moving average dropped to 275,000 from 278,000, signaling a labor market that is nearing full employment
The continuing claims level increased to 2.262 mln for the week ending July 18 from an upwardly revised 2.216 mln (from 2.207 mln) for the week ending July 11 while the consensus expected a decrease to 2.200 mln

12:25 pm: [BRIEFING.COM] Equity indices remain near their recent levels with the Nasdaq Composite (+0.2%) holding a modest gain thanks to a rebound in the technology sector, which now trades flat.

Furthermore, high-beta chipmakers have rallied behind NXP Semiconductor (NXPI 96.99, +5.19), which has surged 5.7% after beating bottom-line estimates and guiding Q3 revenue below consensus. For its part, the broader PHLX Semiconductor Index is higher by 0.4% with 22 of its 30 components showing gains.

In other high-beta areas, the biotech industry group has climbed off its low, but the iShares Nasdaq Biotechnology ETF (IBB 377.00, -0.43) remains lower by 0.1%.
Related Quotes

11:55 am: [BRIEFING.COM] Recent action saw the S&P 500 narrow its loss to 0.1% while the Nasdaq Composite (+0.1%) has turned positive.

In our previous update we mentioned the relative strength among heavily-weighted consumer discretionary and financial sectors, and both groups are now in the green showing gains close to 0.1% apiece.

Thanks to the ongoing rebound, energy (-0.6%) and health care (-0.5%) remain behind other groups while the top-weighted technology sector has narrowed its decline to 0.1% after showing relative weakness earlier.

Despite the rebound in stocks, Treasuries remain just below their highs with the 10-yr yield down two basis points at 2.27%.

11:25 am: [BRIEFING.COM] The major averages remain near their recent levels with the Dow, Nasdaq, and S&P 500 all down near 0.2% apiece.

Yesterday, the S&P 500 spiked off its 100-day moving average (2,095) and closed roughly nine points above its 50-day moving average (2,100); however, the benchmark index has returned below the 50-day average today and has marked a session low just beneath the 100-day average.

Seven sectors continue holding losses, but consumer discretionary and financials are on the verge of turning positive. Retail stocks have contributed to the relative strength in the discretionary sector with SPDR S&P Retail ETF (XRT 97.66, +0.40) trading higher by 0.4%.

10:55 am: [BRIEFING.COM] Equity indices have climbed off their session lows, but they remain in negative territory with the S&P 500 down 0.4%.

Although the benchmark index has recovered nearly half of its decline, seven sectors continue holding losses. The energy sector was down more than 1.0% in the early going, but the growth-sensitive group has narrowed its loss to 0.6%. The sector has been able to climb off its low even though crude oil has narrowed its gain to 0.3% at $48.92/bbl after being up 1.2% earlier.

Elsewhere among cyclical sectors, technology (-0.6%) and industrials (-0.4%) remain weak while financials (-0.1%) trade a bit ahead of the broader market.

10:35 am: [BRIEFING.COM]

The dollar has traded stronger all session, fueled by momentum from yesterday's FOMC rate decision commentary.
Release of positive US unemployment data and a modestly underwhelming GDP reading gave the index additional modest support in early trade
The dollar continues to trade higher currently, at +0.7% to 97.63, putting moderate selling pressure on both precious metals and copper.
Oil traded flat overnight, following yesterday's EIA inventory report that showed a greater-than-expected 4.2 mln barrel draw
WTI then lifted from the flat-line in early trade, to daily highs near the $49.40 level going into the open of pit trading.
In recent trading however, oil has given up some of its early gains and is now moderately positive to +0.6% at $49.10/barrel
Natural gas has seen a strong, gradual sell-off this morning ahead of the morning's EIA inventory data release (expected to show a 55 bcf build)
Upon release of the data, which showed an smaller than expected build of 52 bcf, Nat gas is back near today's low at -1.9% to $2.81/MMBtu
Precious metals have reversed from modest earlier losses, initially down as the dollar strengthened on market expectations for a rate hike sometime this year.
Gold is now +0.1% to $1093.90/oz while silver is +0.2% to $14.77/oz.
Copper is trading lower by -0.8% to $2.39/lb

9:55 am: [BRIEFING.COM] The major averages have extended their early losses with the S&P 500 now down 0.6% while the Nasdaq Composite (-0.7%) underperforms. It is worth noting that the early selling has coincided with steady demand in the Treasury market that has sent the 10-yr note to a fresh high with its yield down two basis points at 2.27%.

Seven sectors remain in negative territory with energy (-1.1%) slipping behind consumer staples (-0.8%). Also of note, the top-weighted technology sector (-0.8%) is the second-weakest cyclical sector at this time.

Elsewhere, the Dollar Index (97.57, +0.58) has marked a new high for the day, trading up 0.6% with the euro surrendering 0.6% to the dollar (1.0922).

9:40 am: [BRIEFING.COM] As expected, the major averages began the trading day with modest losses. The S&P 500 trades lower by 0.4% with seven sectors hovering in the red.

The consumer staples sector (-0.6%) is the weakest performer in the early going with Dow component Procter & Gamble (PG 78.51, -2.11) lower by 2.6% despite beating bottom-line expectations. Meanwhile, the remaining sectors hold slimmer losses while the heavily-weighted financial space trades flat.

Elsewhere among influential sectors, health care (-0.6%) and technology (-0.5%) trail the broader market while consumer discretionary (-0.3%) and industrials (-0.3%) outperform slightly.

Treasuries have marked new highs in recent going before returning to unchanged with the 10-yr yield at 2.28%.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: -8.60. Nasdaq futures vs fair value: -17.80. The stock market is on track for a lower open as S&P 500 futures trade nine points below fair value. Index futures have set new pre-market lows in recent action after making a brief appearance near their flat lines around 6:30 ET.

Overnight, China's Shanghai Composite settled lower by 2.2% after selling resumed during the final hour of the session. However, several other Asian indices-including Japan's Nikkei (+1.1%)-posted gains amid better than expected earnings.

Domestically, investors have received a heavy batch of quarterly reports from large companies, including several energy-related names. Royal Dutch Shell (RDS.A 57.85, +2.45) and Valero (VLO 66.04, 0.00) reported bottom-line beats while Marathon Petroleum (MPC 52.80, -3.01) missed expectations. In other earnings of note, Procter & Gamble (PG 79.45, -1.17) and Facebook (FB 95.20, -1.79) are on track to open lower even though both reported bottom-line beats.

Moving to economic news, the advance reading of Q2 GDP pointed to an expansion of 2.3%, while the Briefing.com consensus expected a reading of 2.5%. Meanwhile, the first quarter reading was revised up to 0.6% from -0.2%.

Equity futures set fresh session lows following the data while Treasuries reclaimed their losses and climbed to highs. Currently, the 10-yr yield is little changed at 2.28%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -5.80. Nasdaq futures vs fair value: -10.80. The S&P 500 futures trade six points below fair value.

It was a mixed day of action in the Asian-Pacific markets, featuring a 1.1% increase in Japan's Nikkei on the back of better than expected economic and earnings news and a 2.2% decline in China's Shanghai Composite, which buckled in a final hour selloff tied to concerns about banks reportedly looking at their exposure to the stock market.

In economic data:
Japan's June Industrial Production +0.8% month-over-month (expected +0.3%; prior -2.1%)
Australia's June Building Approvals -8.2% month-over-month (expected -0.8%; prior +2.3%) while June Private House Approvals +4.3% (prior -8.9%). Separately, Q2 Export Price Index -4.4% quarter-over-quarter (expected -4.0%; prior -0.8%) and Q2 Import Price Index +1.4% (expected +1.5%; prior -0.2%)
Singapore's Q2 Unemployment Rate 2.0% (expected 1.9%; prior 1.8%)

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Japan's Nikkei increased 1.1%, bolstered by better than expected earnings results from a number of leading companies. Leading sectors included the materials (+1.9%), financials (+1.8%), and industrials (+1.4%) sectors. Hino Motors (+6.9%), Hitachi (+6.5%), and Sumitomo Corp (+6.5%) sat atop the list of winners. Panasonic (-5.8%), Nichirei (-5.7%), and Mitsubishi Electric (-5.7%) were the worst-performing issues. Out of the 225 index members, 181 ended higher, 38 finished lower, and 6 were unchanged.
Hong Kong's Hang Seng declined 0.5%, surrendering early gains as the trading session progressed and closing near its lows for the day with weakness in mainland markets weighing. China Life Insurance (-2.5%), China Shenhua Energy (-2.3%), and BOC Hong Kong Holdings (-1.9%) led the laggards while Kunlun Energy (+2.7%), China Resources Power Holdings (+1.6%), and China Mobile (+1.1%) paced the winners. Out of the 50 index members, 18 ended higher, 31 finished lower, and 1 was unchanged.
China's Shanghai Composite declined 2.2%, losing all of that ground in the final hour of trading. The late-day slide was attributed to investor angst following media reports suggesting banks are going to be looking more closely at their stock market exposure, including the loans they have made where stock has been used as collateral. With today's loss and Monday's massive drop, the Shanghai Composite is down 9.0% for the week.

Major European indices trade mostly higher while Spain's IBEX (-0.5%) underperforms amid disappointing earnings.

Investors received several data points:
Eurozone Business and Consumer Survey rose to 104.0 from 103.5 (expected 103.3)
Germany's Unemployment Change +9,000 (expected -5,000; prior +1,000) while the Unemployment Rate held at 6.4%.
Spain's Q2 GDP rose 1.0% quarter-over-quarter, as expected (prior 0.9%); +3.1% year-over-year, as expected (prior 2.7%). Separately July CPI 0.0% year-over-year (expected 0.1%; prior 0.1%); -1.0% month-over-month (consensus 0.0%; last 0.3%)
Swiss July KOF Leading Indicators improved to 99.8 from 89.8 (expected 90.3)

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Germany's DAX is higher by 0.4% with conglomerate Siemens spiking 3.7% in reaction to better than expected results. Deutsche Bank and Adidas also outperform with respective gains of 2.4% and 2.1% while Fresenius Medical has tumbled 5.1% after reporting disappointing results.
In France, the CAC trades up 0.7% with defense contractor Safran surging 9.4% after boosting its guidance. Meanwhile, financials BNP Paribas, Credit Agricole, and Societe Generale are up between 0.4% and 1.7%.
UK's FTSE has climbed 0.8% with energy-related names in the lead. BP, BG Group, and Royal Dutch Shell are up between 1.2% and 4.4% after Shell reported better than expected results. On the downside, airlines lag with EasyJet and International Consolidated Airlines both down near 1.5% apiece.
Spain's IBEX underperforms with a loss of 0.5% after Santander, Repsol, and Mediaset reported disappointing results. The three names are down between 2.9% and 9.9%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -7.20. Nasdaq futures vs fair value: -13.70. The S&P 500 futures trade seven points below fair value.

The advance estimate of second quarter GDP pointed to an expansion of 2.3%, while the Briefing.com consensus expected a reading of 2.5%. Meanwhile, the second quarter GDP Deflator came in at 2.0%, while the consensus expected a reading of 1.5%.

Separately, the latest weekly initial jobless claims count totaled 267,000 while the Briefing.com consensus expected a reading of 272,000. Today's tally was above the unrevised prior week count of 255,000. As for continuing claims, they rose to 2.262 million from 2.216 million.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: -1.60. Nasdaq futures vs fair value: -3.30. U.S. equity futures trade little changed amid upbeat action overseas. The S&P 500 futures hover within two points of fair value after climbing off their lows during the past three hours.

Today's economic data will be limited to weekly Initial Claims (Briefing.com consensus 272,000) and the advance reading of Q2 GDP (consensus 2.5%) with both reports set to be released at 8:30 ET.

Treasuries hold modest losses with the 10-yr yield up one basis point at 2.30%.

In U.S. corporate news of note:

Cigna (CI 146.75, +1.34): +0.9% after beating bottom-line estimates and reaffirming its guidance.
Colgate-Palmolive (CL 68.88, -0.05): -0.1% in reaction to in-line results.
Facebook (FB 95.67, -1.32): -1.4% despite beating earnings and revenue estimates.
NXP Semiconductor (NXPI 95.07, +3.27): +3.6% after beating bottom-line estimates and guiding Q3 revenue below consensus.
Marathon Petroleum (MPC 53.50, -2.31): -4.1% in reaction to disappointing results.
Potash (POT 27.18, +0.33): +1.2% despite reporting a two-cent miss.
Procter & Gamble (PG 79.50, -1.12): -1.4% despite beating bottom-line expectations.
Royal Dutch Shell (RDS.A 57.59, +2.19): +4.0% after reporting better than expected results and announcing plans to cut costs for a prolonged downturn. The company announced it will sell a 33.2% stake in Showa Shell Sekiyu for JPY169 billion
Skechers (SKX 142.00, +13.56): +10.6% in reaction to better than expected results.
T-Mobile US (TMUS 38.56, +1.52): +4.1% following above-consensus results and upbeat guidance.
Valero Energy (VLO 67.00, +0.96): +1.5% in reaction to better than expected earnings and revenue.
Whole Foods (WFM 35.02, -5.80): -14.2% after missing bottom-line estimates and guiding lower. The stock was downgraded at Canaccord Genuity, Morgan Stanley, and Wedbush following earnings.

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei +1.1%, China's Shanghai Composite -2.2%, and Hong Kong's Hang Seng -0.5%
In economic data:
Japan's June Industrial Production +0.8% month-over-month (expected +0.3%; prior -2.1%)
Australia's June Building Approvals -8.2% month-over-month (expected -0.8%; prior +2.3%) while June Private House Approvals +4.3% (prior -8.9%). Separately, Q2 Export Price Index -4.4% quarter-over-quarter (expected -4.0%; prior -0.8%) and Q2 Import Price Index +1.4% (expected +1.5%; prior -0.2%)
Singapore's Q2 Unemployment Rate 2.0% (expected 1.9%; prior 1.8%)
In news:
Samsung retreated almost 4.0% in South Korea after its in-line results revealed the fifth consecutive drop in profits amid sluggish smartphone sales

Major European indices trade mostly higher. Germany's DAX +0.4%, France's CAC +0.7%, and UK's FTSE +0.7%. Elsewhere, Italy's MIB +0.5% and Spain's IBEX -0.7%
Investors received several data points:
Eurozone Business and Consumer Survey rose to 104.0 from 103.5 (expected 103.3)
Germany's Unemployment Change +9,000 (expected -5,000; prior +1,000) while the Unemployment Rate held at 6.4%.
Spain's Q2 GDP rose 1.0% quarter-over-quarter, as expected (prior 0.9%); +3.1% year-over-year, as expected (prior 2.7%). Separately July CPI 0.0% year-over-year (expected 0.1%; prior 0.1%); -1.0% month-over-month (consensus 0.0%; last 0.3%)
Swiss July KOF Leading Indicators improved to 99.8 from 89.8 (expected 90.3)
Among news of note:
Spain's IBEX trails the region with Santander, Repsol, and Mediaset pressuring the index after reporting disappointing results

5:48 am: [BRIEFING.COM] S&P futures vs fair value: -2.60. Nasdaq futures vs fair value: -6.60.

5:48 am: [BRIEFING.COM] Nikkei...20522.83...+219.90...+1.10%. Hang Seng...24497.98...-121.50...-0.50%.

5:48 am: [BRIEFING.COM] FTSE...6661.19...+30.20...+0.50%. DAX...11234.85...+23.00...+0.20%.

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

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

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