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 Post subject: August 5th Wednesday Trade Results - Profit $1820.00
PostPosted: Wed Aug 05, 2015 10:36 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1070.00 dollars or +10.70 points, Emini ES ($ES_F) futures @ $750.00 dollars or +15.00 points, Light Crude Oil CL ($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 @ $1820.00 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=146&t=2140

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=269&t=2840 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


4:15 pm: [BRIEFING.COM] The stock market snapped its three-day skid on Wednesday with the S&P 500 climbing 0.3%. The benchmark index settled behind the Nasdaq Composite (+0.7%), but ahead of the Dow Jones Industrial Average (-0.1%), which ended in the red.

Equity indices began the day with gains, but the early strength was just a mirage for the Dow Jones Industrial Average as the price-weighted index retreated from its opening high and spent the afternoon near its flat line. Most notably, shares of Disney (DIS 110.53, -11.16) pressured the index throughout the day after the company reported earnings. Disney delivered a three-cent beat, but that was overshadowed by a poor showing from its media and parks & resorts segments.

In addition to pressuring the Dow, Disney's results broadsided other media names, resulting in a 1.1% decline for the consumer discretionary sector even as retailers outperformed with SPDR S&P Retail ETF (XRT 98.99, +1.10) climbing 1.1%. Furthermore, Time Warner (TWX 79.80, -7.85) reported better than expected results, but the stock fell victim to industry-wide selling pressure, ending lower by 9.0%.

Discretionary sector notwithstanding, the energy space (-0.8%) finished in the red while seven of the remaining eight groups posted gains. As for energy, the growth-sensitive sector was among the early leaders, but slumped alongside crude oil, which settled lower by 1.4% at $45.11/bbl. Interestingly, the late-morning turn in oil coincided with the reversal in equities.

Despite the intraday reversal, the Nasdaq was able to end the day with more than half of its original gain thanks to the relative strength in the technology sector (+1.0%). The top-weighted group was underpinned by large cap names while Apple (AAPL 115.40, +0.76) erased an early loss to end higher by 0.7% after yesterday's drop widened its decline from mid-July highs to 13.8%. On the earnings front, Motorola Solutions (MSI 64.01, +3.79) spiked 6.3% after better than expected results overshadowed cautious guidance for Q3.

Moving to the countercyclical side, consumer staples (+0.9%) and health care (+0.7%) settled well ahead of the broader market while telecom services (unch) underperformed and utilities (+0.3%) ended in-line. For its part, the health care sector rallied alongside biotechnology with iShares Nasdaq Biotechnology ETF (IBB 386.72, +2.91) climbing 0.8%.

Treasuries notched their lows shortly after the opening bell on Wall Street, but they retraced about a third of their losses with the 10-yr yield rising four basis points to 2.27%.

Today's participation was ahead of recent averages with more than 890 million shares changing hands at the NYSE floor.

Economic data included ADP Employment, Trade Balance, ISM Services, and MBA Mortgage Index:
Related Stories

InPlay from Briefing.com Briefing.com
US STOCKS SNAPSHOT-Nasdaq ends at record high after Google Reuters
How the Dow Jones industrial average fared on Wednesday Associated Press
Apple iPhone sales expected to key tech-sector earnings growth MarketWatch
U.S. stocks open slightly higher; Nasdaq hits record MarketWatch

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 185K in July while the Briefing.com consensus expected a reading of 220K
The June reading was revised down to 229,000 from 237,000
The U.S. trade deficit widened to $43.80 billion in June from a downwardly revised $40.90 billion (from $41.90 billion) in May while the Briefing.com consensus expected a deficit of $42.70 billion
The goods deficit increased to $63.50 billion in June from $60.60 billion in May while the services surplus was virtually unchanged at $16.70 billion
The ISM Non-manufacturing Index increased to 60.3 in July from 56.0 in June while the Briefing.com consensus expected an increase to 56.3
That was the strongest reading since hitting 61.4 in August 2005
The weekly MBA Mortgage Index rose 4.7% to follow last week's uptick of 0.8%

Tomorrow, the Challenger Job Cuts report for July will be released at 7:30 ET while weekly Initial Claims will be reported at 8:30 ET (Briefing.com consensus 271,000).

Nasdaq Composite +8.5% YTD
S&P 500 +2.0% YTD
Russell 2000 +2.2% YTD
Dow Jones Industrial Average -1.6% YTD

3:40 pm: [BRIEFING.COM]

The dollar moved back near the flat line this afternoon, while energy held losses and precious metals were mixed/flat
WTI Sept crude oil ended the day -1.4% at $45.11/barrel, while Sept natural gas lost one cent to $2.80/MMBtu
Sept silver ended the day one cent higher to $14.56/oz and Dec gold lost -0.5% to finish at $1085.60/oz
Sept copper fell one cent today to $2.35/lb

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.4% with one hour remaining in the session.

The benchmark index charged out of the gate, but significant weakness among media names has pressured the consumer discretionary sector (-1.0%) and, by extension, the broader market.

Despite today's weakness, the discretionary sector remains higher by 10.0% for the year, which puts the group well ahead of other cyclical sectors. Meanwhile, the second-best performer on the cyclical side-technology-is higher by 3.0% so far in 2015.

Elsewhere, Treasuries are on track to end the day a bit above their morning lows with the 10-yr yield higher by four basis points at 2.27%.

2:25 pm: [BRIEFING.COM] Equity indices remain near their recent levels with the S&P 500 (+0.4%) defending a modest gain.

Eight sectors continue trading in the green while consumer discretionary (-1.1%) and energy (-0.7%) sit well below their flat lines. Conversely, the top-weighted technology sector has narrowed its gain to 1.0% with Apple (AAPL 115.08, +0.44) trimming its advance to 0.4%.

Similar to technology, industrials (+0.7%) and materials (+0.6%) remain ahead of the broader market while the other cyclical sectors underperform.

1:55 pm: [BRIEFING.COM] The major averages remain near their lowest levels of the day.

There were two surprises in today's economic releases. One was real and the other was imagined.

Starting with the real surprise, the ISM Non-manufacturing Index increased to 60.3 in July from 56.0 in June. The Briefing.com Consensus expected the index to increase to 56.3.

That was the strongest reading in the ISM Non-manufacturing Index since it reached 61.4 in August 2005.

Normally, the services sector is fairly stable and the non-manufacturing index moves up-and-down very slowly. That made the 4.3 point move in the index a very unusual event. In fact, the index has only moved by more than 4.3 points, up-or-down, nine times since the index was created in 1997. The last time that happened was in November 2008, when the effects of the Great Recession drove the index down 7.1 points.

As for the imagined, the U.S. trade deficit widened to $43.8 bln in June from a downwardly revised $40.9 bln (from $41.9 bln) in May. The Briefing.com Consensus expected the trade deficit to increase to $42.7 bln.

The Census Bureau provided a new advance estimate of the trade data last week. There was little difference between the advance data ($44.0 bln) and the actual. In other words, the data met the "real" expectation.

1:35 pm: [BRIEFING.COM] The major U.S. indices have continued to sell-off since our last update and remain mixed at this time.

A look inside the Dow Jones Industrial Average, which is noticeably underperforming other indices, shows Disney (DIS 110.59, -11.10), Chevron (CVX 84.48, -0.73) and Travelers (TRV 105.86, -0.77) are underperforming. Disney is weighing down the DJIA after reporting its quarterly earnings, in which revenues fell short of analyst expectations. The company was also victim to a wave of downgrades following the lackluster report. Chevron is under pressure amid continued weakness in the energy sector, with WTI crude oil dropping 1.5% on the day to $45/bbl. Travelers announced an executive shift, in which Alan D. Schnitzer will succeed Jay S. Fishman as CEO, effective December 1, 2015.

Conversely, Wal-Mart (WMT 73.14, +1.38) is the best-performing Dow component on the heels of general strength in consume staples.

For the week, the DJIA is down 0.93%, and now down 1.7% for the year

1:00 pm: [BRIEFING.COM] The major averages have backed away from their session highs, but the Nasdaq (+0.9%) and S&P 500 (+0.4%) remain near their opening levels while the Dow Jones Industrial Average (-0.1%) has turned negative.

Equity indices began the day on an upbeat note thanks to an overnight boost received from the futures market; however, the market has struggled to stay near its early high due to relative weakness in several influential names.

The price-weighted Dow has trailed the broader market since the early going due to a 9.2% plunge in the shares of Disney (DIS 110.53, -11.16). Last evening, the company reported a three-cent beat, but that was overshadowed by a poor showing from Disney's media and parks & resorts segments.

Similar to Disney, other media names have retreated, which has kept the consumer discretionary sector (-1.1%) in the red through the first half of the session. Time Warner (TWX 81.71, -5.93) has followed the pack, sliding 6.8%, despite beating earnings and revenue expectations.

Unlike the discretionary sector, the growth-sensitive energy space was among the early leaders, but the sector is now down 0.5% amid an intraday dive in crude oil. The energy component trades down 1.9% at $44.88/bbl after being up as much as 2.1% earlier. It is worth noting that the turnaround in oil has coincided with a reversal in the stock market. Movements in the currency market have not had much impact on oil as the Dollar Index (988.08, +0.14) remains just below its overnight high.

Meanwhile, the remaining eight sectors trade in the green with top-weighted technology (+1.2%) doing yeomen's work, keeping the S&P 500 out of the red. The sector has received a measure of support from Apple (AAPL 116.32, +1.66) as the stock trades higher by 1.4% after ending yesterday's session down 13.8% from its mid-July high. Also of note, high-beta chipmakers trade ahead of the broader market with the PHLX Semiconductor Index up 1.0%.

Elsewhere, Treasuries hit their lows shortly after the opening bell before trimming their losses. That being said, the 10-yr note remains in the red with its yield higher by four basis points at 2.26%.

Economic data included ADP Employment, Trade Balance, ISM Services, and MBA Mortgage Index:

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 185K in July while the Briefing.com consensus expected a reading of 220K
The June reading was revised down to 229,000 from 237,000
The U.S. trade deficit widened to $43.80 billion in June from a downwardly revised $40.90 billion (from $41.90 billion) in May while the Briefing.com consensus expected a deficit of $42.70 billion
The goods deficit increased to $63.50 billion in June from $60.60 billion in May while the services surplus was virtually unchanged at $16.70 billion
The ISM Non-manufacturing Index increased to 60.3 in July from 56.0 in June while the Briefing.com consensus expected an increase to 56.3
That was the strongest reading since hitting 61.4 in August 2005
The weekly MBA Mortgage Index rose 4.7% to follow last week's uptick of 0.8%

12:30 pm: [BRIEFING.COM] Recent action saw the major averages retreat from their highs amid slippage in all ten sectors. The top-weighted technology space (+1.4%) has registered the smallest pullback so far, but two other cyclical groups-energy (-0.3%) and consumer discretionary (-0.9%)-have slid to new session lows.

The discretionary sector has followed in the footsteps of media names as the industry group shows broad weakness. As mentioned earlier, Disney (DIS 110.96, -10.73) has tumbled 8.8% while Time Warner (TWX 81.82, -5.83) has plunged 6.6% despite reporting better than expected results.

The losses among media stocks have overshadowed relative strength in retail, evidenced by a 0.8% gain in SPDR S&P Retail ETF (XRT 98.68, +0.79).
Related Quotes

11:55 am: [BRIEFING.COM] Equity indices continue holding gains with the Nasdaq Composite (+1.2%) maintaining the lead. Thanks to today's spike, the tech-heavy index is now up 0.8% for the week while the S&P 500 (+0.7%) follows with a week-to-date gain of 0.2%.

Meanwhile, the price-weighted Dow (+0.4%) lags today, which has kept the index from turning positive for the week (-0.4% week-to-date). Shares of Disney (DIS 111.05, -10.64) continue weighing the index down while only two other components trade in negative territory. On the upside, nine index members show gains of 1.0% or more while the top-weighted component-Goldman Sachs (GS 206.81, +1.64)-has climbed 0.8%.

Elsewhere, Treasuries continue hovering just above their session lows with the 10-yr yield up five basis points at 2.28%.

11:25 am: [BRIEFING.COM] Not much change in the major averages as the S&P 500 (+0.8%) remains within three points of its session high.

Although the market has held near its best level of the session, that has not been the case with the energy sector, which paced the opening advance. The growth-sensitive sector was up more than 1.3% at the start, but that gain has been narrowed to 0.5% amid a pullback in crude oil, which now trades flat at $45.72/bbl.

Elsewhere among cyclical sectors, industrials (+1.0%), materials (+1.0%), and technology (+1.7%) outperform while financials (+0.7%) and consumer discretionary (-0.4%) trail the broader market.

10:55 am: [BRIEFING.COM] Equity indices continue cruising near their best levels of the session with the Nasdaq Composite (+1.3%) trading ahead of the S&P 500 (+0.8%) and Dow Jones Industrial Average (+0.5%).

As mentioned earlier, the Dow has stayed behind the broader market in the early going due to relative weakness in Apple (AAPL 116.72, +2.08) and Disney (DIS 112.50, -9.19); however, Apple has rebounded from its opening loss while Disney remains lower by 7.6%.

In addition to pressuring the Dow, Disney's underperformance has kept the consumer discretionary sector (-0.2%) in the red through the opening 90 minutes of the session.

On the upside, the top-weighted technology sector trades higher by 1.6% with high-beta chipmakers also showing solid gains. The PHLX Semiconductor Index has climbed 1.6%.

10:40 am: [BRIEFING.COM]

The dollar traded moderately positive overnight on momentum from yesterday's comments (supportive of a Sept. rate hike) by Atlanta Fed Pres. Dennis Lockhart.
That strength has extended currently, on an interplay between weaker than expected ADP US Employment Data and a strong ISM Index reading.
The index is now extending modest gains at +0.2% to 98.10
Precious metals are seeing mixed reaction to movements in the dollar, with gold giving up an early rally to trade -0.6% at $1084/oz, while silver trends positive at +0.1% to $14.57/oz
Oil trended positive in early morning trade , driven primarily by yesterday's inventory data from the API, which showed a draw in inventories over this past week.
Crude did see a sell-off going into the release of this morning's EIA inventory data however, holding just above the $46 level on expectations for a 1.6 mln draw
Upon release of the data, which showed a 4.4 mln draw, WTI spiked higher and is now tracking at +1.3% to $46.35/barrel
Natural gas lifted off the unchanged mark this morning, as expectations for warmer national weather increased the market's near-term demand for the commodity
September nat gas is now +0.9% to $2.84/MMBtu
Copper is modestly down for the day (at one point reaching lows of $2.34/lb) at -0.6% to $2.35/lb

10:00 am: [BRIEFING.COM] The S&P 500 remains higher by 0.7% while the Nasdaq (+1.1%) outperforms.

Just reported, the ISM Services Index for July rose to 60.3 from 56.0 while the Briefing.com consensus expected an improvement to 56.3.

9:40 am: [BRIEFING.COM] As expected, the major averages began the day in the green. The S&P 500 trades higher by 0.7% while the Dow Jones Industrial Average (+0.3%) underperforms due to early weakness in Apple (AAPL 112.80, -1.84) and Disney (DIS 111.41, -10.28) with the latter struggling after announcing earnings last evening.

Nine sectors hold early gains with energy (+1.3%) and materials (+1.3%) in the lead. On a related note, crude oil is higher by 1.1% at $46.25/bbl. On the downside, the discretionary sector is the lone decliner as Disney weighs.

Treasuries have marked new lows not long ago with the 10-yr yield now up four basis points at 2.27%.

The ISM Services Index for July (expected 56.3) will be reported at 10:00 ET.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +11.40. Nasdaq futures vs fair value: +32.70. The stock market is on track for a higher open with S&P 500 futures trading 11 points above fair value. Index futures have climbed throughout the night, picking up steam once markets in Europe opened for action with the overseas move bolstered by better than expected earnings from Societe Generale and Unicredit.

Meanwhile, U.S. futures were not done there, setting new highs during the past hour after the ADP Employment Report for July (185K; Briefing.com consensus 215K) missed expectations, fueling some speculation that the Fed may delay its first rate hike. That being said, Friday's Nonfarm Payrolls report should provide some more clarity. Unlike equity futures, Treasuries barely budged, remaining near their overnight lows with the 10-yr yield higher by a two basis points at 2.24%.

On the earnings front, the consumer discretionary sector will be in focus after two large components reported earnings. Priceline (PCLN 1385.00, +101.01) has spiked 7.9% in pre-market in reaction to a bottom-line beat while Dow component Disney (DIS 110.88, -10.81) has tumbled 8.9% after disappointing results in the company's media and parks & resorts segments overshadowed a three-cent beat.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +13.40. Nasdaq futures vs fair value: +34.70. The S&P 500 futures trade 13 points above fair value.

Outside of China's Shanghai Composite (-1.7%) and Australia S&P/ASX 200 (-0.4%), markets in the Asia-Pacific region finished higher on Wednesday, staging a comeback effort with the help of an uplifting Services PMI reading out of China.

In economic data:
China's July Caixin Services PMI 53.8 (expected 52.2; prior 51.8)
Hong Kong's July Manufacturing PMI 48.2 (prior 49.2)
Australia's July AIG Services Index 54.1 (prior 51.2)
India's July Nikkei Services PMI 50.8 (prior 47.7)
New Zealand's Q2 Employment Change +0.3% quarter-over-quarter (expected +0.5%; prior +0.6%), Q2 Unemployment Rate 5.9% (expected 5.9%; prior 5.8%), and Q2 Labor Cost Index +0.5% quarter-over-quarter (expected +0.5%; prior +0.3%); +1.8% year-over-year (prior 1.8%)

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Japan's Nikkei increased 0.5%, led by strength in the industrials (+2.5%), health care (+2.5%), and financials (+1.1%) sectors. Nippon Suisan Kaisha (+18.6%), Terumo Corp (+12.9%), and Kajima Corp (+6.8%) led all gainers. Marui Group (-11.0%), Minebea (-6.3%), IHI Corp (-5.6%), and Fast Retailing (-4.7%) were the biggest decliners. Out of the 225 index members, 164 ended higher, 53 finished lower, and 8 were unchanged.
Hong Kong's Hang Seng increased 0.4%, ending much closer to its high for the session than to its low. China Mengniu Diary (+5.0%), Tingyi Cayman Islands Holdings (+4.0%), and CNOOC (+2.8%) topped the list of winners while Li & Fung (-2.7%), Bank of East Asia (-1.6%), and Henderson Land Development (-1.4%) brought up the rear. Out of the 50 index members, 25 ended higher, 24 finished lower, and 1 was unchanged.
China's Shanghai Composite declined 1.7% and ended close to its lows for the day, shedding most of what it lost in the final hour of trading and despite the Caixin Services PMI report showing the fastest pace of expansion in 11 months. Banks, brokerages, and property developers were among the weak links. The CSI 300 Index fell 2.1%.

Major European indices trade higher across the board with Italy's MIB (+1.5%) showing relative strength. Elsewhere, European Commission President Jean-Claude Juncker said that bailout talks with Greece are making satisfactory progress with a deal expected by August 20, in time for Greece to repay EUR3.40 billion to the European Central Bank.

Participants received several data points:
Eurozone July Services PMI 54.0 (expected 53.8; prior 53.8) while June Rteail Sales -0.6% month-over-month (expected -0.3%; prior 0.1%); +1.2% year-over-year (consensus 1.9%; last 2.6%)
Germany's July Services PMI 53.8 (consensus 53.7; prior 53.7)
UK's July Services PMI 57.4 (consensus 58.0; prior 58.5)
France's July Services PMI 52.0 (expected 52.0; last 52.0)
Italy's July Services PMI 52.0 (expected 53.0; prior 53.4)
Spain's July Services PMI 59.7 (consensus 55.5; last 56.1)
Swiss July CPI -0.6% month-over-month (expected -0.4%; prior 0.1%); -1.3% year-over-year (consensus -1.1%; last -1.0%)

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UK's FTSE trades higher by 1.0% with roughly 75% of its components in the green. Miners appear among the leaders with Antofagasta, BHP Billiton, Glencore, and Rio Tinto up between 2.4% and 4.9%. Meanwhile, industrials lag with Ashtead Group, Meggitt, and Smiths Group down between 0.6% and 0.9%.
Germany's DAX has climbed 1.3% with all but four components showing gains. Exporters lead with BMW, Daimler, and Volkswagen up between 2.6% and 3.0%. On the downside, Fresenius SE is the weakest performer, trading lower by 0.4%.
In France, the CAC trades up 1.4% amid broad strength. Societe Generale has soared 8.6% in reaction to better than expected results while peers BNP Paribas and Credit Agricole show gains close to 1.1% apiece. Other growth-sensitive names have also shown strength with ArcelorMittal, Valeo, and Airbus up between 2.1% and 4.6%.
Italy's MIB outperforms with a gain of 1.5% as financials lead. BMPS, Mediobanca, Unicredit, Mediobanca, and UBI Banca are up between 1.9% and 6.5%. Unicredit leads the bunch after reporting better than expected results.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +14.00. Nasdaq futures vs fair value: +38.70. The S&P 500 futures trade 14 points above fair value.

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 185K in July. That was below the increase of 220K expected by the Briefing.com consensus. The June reading was revised down to 229,000 from 237,000.

Separately, the June trade balance showed a deficit of $43.80 billion while the Briefing.com consensus expected the deficit to come in at $42.70 billion. The prior month's deficit was revised down to $40.90 billion from $41.90 billion.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +9.40. Nasdaq futures vs fair value: +24.80. U.S. equity futures hold solid pre-market gains following a steady advance that accelerated once markets in Europe opened for action. The S&P 500 futures currently hover nine points above fair value.

Yesterday was very quiet on the economic front, but more reports will be released today. The weekly MBA Mortgage Index rose 4.7% to follow last week's uptick of 0.8%.

The ADP Employment Change report for July (Briefing.com consensus 220K) will be announced at 8:15 ET while the Trade Balance for June (consensus -$42.70 billion) will cross the wires at 8:30 ET. The ISM Services Index for July (expected 56.3) will be the last data point of the day, set to be reported at 10:00 ET.

Treasuries hold modest losses with the 10-yr yield higher by a basis point at 2.24%.

In U.S. corporate news of note:

Activision Blizzard (ATVI 27.45, +1.78): +6.9% in reaction to better than expected results and upbeat guidance.
Disney (DIS 113.20, -8.49): -7.0% after disappointing results in the company's media and parks & resorts segments overshadowed a three-cent beat.
First Solar (FSLR 49.09, +4.59): +10.3% after beating estimates and guiding above analyst expectations.
Motorola Solutions (MSI 63.77, +3.55): +5.9% after better than expected results overshadowed cautious guidance for Q3.
Lumber Liquidators (LL 14.90, -3.46): -18.9% in reaction to disappointing results and uncertain guidance.
Priceline (PCLN 1370.00, +86.01): +6.7% in reaction to a bottom-line beat.
Time Warner (TWX 87.70, +0.05): +0.1% following better than expected results.
Virtu Financial (VIRT 23.00, -0.26): -1.1% after missing earnings estimates on better than expected revenue.
Zillow (Z 83.01, +8.81): +11.9% after reporting a bottom-line loss that may not be comparable to estimates.

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +0.5%, Hong Kong's Hang Seng +0.4%, and China's Shanghai Composite -1.7%
In economic data:
China's July Caixin Services PMI 53.8 (expected 52.2; prior 51.8)
Hong Kong's July Manufacturing PMI 48.2 (prior 49.2)
Australia's July AIG Services Index 54.1 (prior 51.2)
India's July Nikkei Services PMI 50.8 (prior 47.7)
New Zealand's Q2 Employment Change +0.3% quarter-over-quarter (expected +0.5%; prior +0.6%), Q2 Unemployment Rate 5.9% (expected 5.9%; prior 5.8%), and Q2 Labor Cost Index +0.5% quarter-over-quarter (expected +0.5%; prior +0.3%); +1.8% year-over-year (prior 1.8%)
In news:
The International Monetary Fund was expected to make a decision regarding a possible inclusion of the yuan in the SDR basket, but that decision has been postponed until October of next year.

Major European indices trade higher across the board. UK's FTSE +0.9%, France's CAC +1.4%, and Germany's DAX +1.4%. Elsewhere, Italy's MIB +1.5% and Spain's IBEX +0.9%
Participants received several data points:
Eurozone July Services PMI 54.0 (expected 53.8; prior 53.8) while June Rteail Sales -0.6% month-over-month (expected -0.3%; prior 0.1%); +1.2% year-over-year (consensus 1.9%; last 2.6%)
Germany's July Services PMI 53.8 (consensus 53.7; prior 53.7)
UK's July Services PMI 57.4 (consensus 58.0; prior 58.5)
France's July Services PMI 52.0 (expected 52.0; last 52.0)
Italy's July Services PMI 52.0 (expected 53.0; prior 53.4)
Spain's July Services PMI 59.7 (consensus 55.5; last 56.1)
Swiss July CPI -0.6% month-over-month (expected -0.4%; prior 0.1%); -1.3% year-over-year (consensus -1.1%; last -1.0%)
Among news of note:
European Commission President Jean-Claude Juncker said that bailout talks with Greece are making satisfactory progress with a deal expected by August 20, in time for Greece to repay EUR3.40 billion to the European Central Bank

5:48 am: [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +8.40.

5:48 am: [BRIEFING.COM] Nikkei...20614.06...+93.70...+0.50%. Hang Seng...24514.16...+108.00...+0.40%.

5:48 am: [BRIEFING.COM] FTSE...6694.18...+7.60...+0.10%. DAX...11571.83...+116.00...+1.00%.

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

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

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