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 Post subject: August 6th Thursday Trade Results - Profit $4042.50
PostPosted: Thu Aug 06, 2015 9:06 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1230.00 dollars or +12.30 points, Emini ES ($ES_F) futures @ $2812.50 dollars or +56.25 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $4042.50 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=146&t=2141

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


4:10 pm: [BRIEFING.COM] The stock market endured a broad-based retreat on Thursday that was paced by the Nasdaq Composite. The tech-heavy index lost 1.6% while the Dow Jones Industrial Average and S&P 500 surrendered 0.7% and 0.8%, respectively, ahead of Friday's Nonfarm Payrolls report for July.

Equities opened just above their flat lines, but the S&P 500 dipped into the red and slid below its 100-day moving average (2,098) during the opening hour. Eight of ten sectors settled in the red with the consumer discretionary space (-1.3%) showing notable weakness for the second day in a row.

Specifically, media names weighed on discretionary shares once again with Viacom (VIAB 44.10, -7.31) tumbling 14.2% after reporting in-line results on light revenue. Similarly, Viacom's peer 21st Century Fox (FOXA 29.87, -2.05) sank 6.4% despite reporting a bottom-line beat while Disney (DIS 108.55, -1.98) lost 1.8% after plunging 9.2% yesterday.

The battered industry group was able to climb off its low ahead of the close, but losses in other influential areas kept the market pressured into the afternoon.

Elsewhere among cyclical sectors, technology (-1.0%) also settled behind the broader market amid notable weakness in high-beta chipmaker names. SunEdison (SUNE 17.08, -5.79) dove 25.3% after missing earnings estimates while the PHLX Semiconductor Index lost 1.8% with all but three components ending in the red.

In other earnings of note, Tesla (TSLA 246.13, -24.00) tumbled 8.9% after lowered delivery guidance overshadowed better than expected results for the past quarter. Tesla's loss contributed to the underperformance in the Nasdaq, but the index also had to contend with notable weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 370.08, -16.64) slumped 4.3% while the broader health care sector (-2.1%) ended behind the remaining nine groups.

On the upside, energy (+1.6%) and utilities (+0.5%) settled in the green with the energy sector overcoming a 1.0% decline in crude oil, which settled at $44.66/bbl. As for utilities, the rate-sensitive sector benefited from lower rates as Treasuries ended on their highs with the 10-yr yield lower by five basis points at 2.22%.

Today's participation was ahead of recent averages with more than 930 million shares changing hands at the NYSE floor.

Economic data was limited to weekly Initial Claims, which increased to 270,000 from an unrevised 267,000 while the Briefing.com consensus expected a reading of 271,000. Since reaching a 40-year low (255,000) two weeks ago, the initial claims level has slowly inched back into the bottom of its previous 270,000 - 290,000 range. These are levels that support the theory that the labor market has returned to full employment.

Tomorrow, the Nonfarm Payrolls report for July (Briefing.com consensus 229K) will be released at 8:30 ET while June Consumer Credit (expected $17.00 billion) will be reported at 15:00 ET.
Related Stories

InPlay from Briefing.com Briefing.com
How the Dow Jones industrial average fared on Wednesday Associated Press
Dow posts 6-day losing streak as media stocks plunge; jobs in focus CNBC
Media stock selloff leaves Wall Street bruised Reuters
US STOCKS-Nasdaq rebounds but weak results weigh on Dow, S&P Reuters

Nasdaq Composite +6.8% YTD
S&P 500 +1.2% YTD
Russell 2000 +0.9% YTD
Dow Jones Industrial Average -2.3% YTD

3:40 pm: [BRIEFING.COM]

Some commodities got a boost today as the dollar index slid off of morning lows
However, not much helped give oil prices a boost today. Oil attempted a couple times to run, but it remained in the red in afternoon trading
Sept crude oil ended the day -1% at $44.66/barrel
In other energy, Sept nat gas rallied higher following the weekly EIA storage data this morning, which showed a smaller-than-expected build
Sept NG closed pit trading +0.7% at $2.82/MMBtu
Copper ended flat at $2.35/lb, while precious metals closed higher
Dec gold rose +0.4% at $1090.20/oz, while Sept silver gained +0.8% at $14.68/oz.

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.7% with one hour remaining in the session. The benchmark index notched its session low around 12:30 ET and has recovered about ten points since then with the consumer discretionary sector (-1.3%) also erasing a portion of its decline.

Most media names remain in the red while CBS (CBS 51.90, +1.48) is now up 2.9%.

Elsewhere, the utilities sector (+0.2%) has climbed into the green while Treasuries are on course to end the day near their highs with the 10-yr yield down four basis points at 2.24%.

2:25 pm: [BRIEFING.COM] Equity indices remain near their recent levels with the S&P 500 trading lower by 0.8%. Including today's decline, the benchmark index is down 1.0% for the week while the Nasdaq (-1.6%) has given up 1.4% since last Friday.

The consumer discretionary sector (-1.7%) remains among the laggards, but the cyclical group has inched up off its low after being down more than 2.0% earlier. Meanwhile, the health care sector (-2.0%) has slipped to the bottom of the leaderboard as biotech names remain weak with iShares Nasdaq Biotechnology ETF (IBB 372.36, -14.36) trading lower by 3.7%.

On the upside, the energy sector has extended its gain to 1.5%.

2:00 pm: [BRIEFING.COM] The S&P 500 trades within eight points of its session low.

Employment conditions remains very strong.

The initial claims level increased to 270,000 for the week ending August 1 from an unrevised 267,000 for the week ending July 25. The Briefing.com Consensus expected the initial claims level to increase to 271,000.

Since reaching a 40-year low (255,000) two weeks ago, the initial claims level has slowly inched back into the bottom of its previous 270,000 - 290,000 range. These are levels that support the theory that the labor market has returned to full employment.

1:30 pm: [BRIEFING.COM] The major U.S. indices have bounced back since our last update, but still remain under pressure.

A look inside the Dow Jones Industrial Average shows Disney (DIS 105.61, -4.92), Microsoft (MSFT 46.64, -0.94), and Nike (NKE 114.75, -2.00) are underperforming. Disney is seeing a continuation of yesterday's selloff amid broad weakness in media stocks today, sparked by disappointing quarterly results from Viacom (VIAB 43.81, -7.60). Microsoft is lower among peers in the IT space while Nike is being dragged down by strong weakness in the consumer discretionary sector, the worst performing sector today.

Conversely, Chevron (CVX 85.33, +1.30) is the best-performing Dow components as the oil giant bounces back from a multi-session downtrend amid a recovery in the energy sector, the best performing sector in today's trading session.

With today's decline, the DJIA is down 1.6% this week and 2.3% in 2015.

1:00 pm: [BRIEFING.COM] The major averages trade near their lows at midday with the Nasdaq Composite (-1.9%) trailing the Dow Jones Industrial Average (-0.9%) and S&P 500 (-1.1%).

Equities began the trading day just above their flat lines, but steady selling pressure has kept the market in a downward trend through the first half of the session ahead of tomorrow's Nonfarm Payrolls report for July, which could alter rate-hike expectations. Media names displayed considerable weakness yesterday and the industry group has faced additional selling today even though 21st Century Fox (FOXA 28.75, -3.17), CBS (CBS 48.85, -1.57), and Viacom (VIAB 43.74, -7.67) reported in-line or better than expected earnings. The three names are down between 3.3% and 15.0% while Disney (DIS 104.33, -6.20) has surrendered 5.6% on top of yesterday's 9.2% dive. As a result, the consumer discretionary sector (-2.2%) trades well behind other groups.

However, it is not just the discretionary sector that has suffered from noteworthy selling. The largest countercyclical group by weight-health care-trades lower by 2.0% amid heavy pressure in the biotechnology space. The iShares Nasdaq Biotechnology ETF (IBB 371.29, -15.43) has surrendered 4.0%, which helps explain the underperformance of the Nasdaq Composite.

For its part, the Nasdaq has made its first appearance below its 100-day moving average (5,036) since finding support at that level following a pullback from its June high. Similar to biotechnology, high-beta chipmakers lag with the PHLX Semiconductor Index down 2.4%. SunEdison (SUNE 17.99, -4.88) is the weakest index member, plunging 21.3% in reaction to disappointing results.

Staying on the earnings theme, another Nasdaq Component-Tesla (TSLA 242.22, -27.91)-has slumped 10.3% after lowered delivery guidance overshadowed better than expected results.

Interestingly, the energy sector (+0.7%) was the weakest performer at the start, but the group has rebounded even though crude oil trades near its session low, down 1.5% at $44.48/bbl.

Today's pullback in the stock market has lured some money into Treasuries with the 10-yr note trading on its high with the benchmark yield down five basis points at 2.22%.

Economic data was limited to weekly Initial Claims, which increased to 270,000 from an unrevised 267,000 while the Briefing.com consensus expected a reading of 271,000. Since reaching a 40-year low (255,000) two weeks ago, the initial claims level has slowly inched back into the bottom of its previous 270,000 - 290,000 range. These are levels that support the theory that the labor market has returned to full employment.

12:30 pm: [BRIEFING.COM] Continued selling in the stock market has the S&P 500 trading lower by 1.0% with nine sectors in the red.

Heavily-weighted consumer discretionary (-2.3%) and health care (-2.1%) are keeping the market under steady pressure with health care's woes linked to the weakness among biotech names. The iShares Nasdaq Biotechnology ETF (IBB 371.17, -15.55) trades down 4.0%, which is keeping the Nasdaq Composite (-2.0%) behind the broader market. Looking at the broader picture, the Nasdaq now trades right above its 100-day moving average (5,035), which served as an area of support back in early July after the market had retreated from its June high.

Elsewhere, Treasuries have marked new highs for the day with the 10-yr yield down five basis points at 2.22%.
Related Quotes

11:55 am: [BRIEFING.COM] Selling pressure remains palpable with the S&P 500 (-0.9%) trading just two points above its session low.

With the exception of media names, today's retreat has not signaled a rush for the exits as six of ten sectors continue trading ahead of the broader market. Meanwhile, the consumer discretionary sector (-2.0%) sits well behind its peers with today's decline narrowing its 2015 gain to 7.6%.

As for media names, the industry group continues showing considerable weakness with Viacom (VIAB 42.69, -8.72) down 17.0% after reporting in-line results while 21st Century Fox (FOXA 28.18, -3.74) has surrendered 11.8% after reporting a bottom-line beat on below-consensus revenue. Also of note, Disney (DIS 105.74, -4.80) trades down 4.3% with today's slide pressuring the stock to levels last seen in early April.

11:25 am: [BRIEFING.COM] The stock market has continued marching lower with the Nasdaq Composite (-1.4%) pacing the retreat. Meanwhile, the S&P 500 trades lower by 0.7% with seven sectors in the red.

Strikingly, the energy sector was the weakest performer out of the gate, but the group now trades well ahead of the broader market with an increase of 0.7%. The sector's turnaround has taken place even as crude oil remains lower by 1.7% at $44.38/bbl.

Similar to energy, the other commodity-related sector-materials (+0.1%)-also hovers in the green. Steelmakers have contributed to the slight gain, evidenced by a 0.3% increase in Market Vectors Steel ETF (SLX 27.29, +0.08).

10:55 am: [BRIEFING.COM] The major averages remain in negative territory as the Dow (-0.4%) trades in-line with the S&P 500 (-0.4%) while the Nasdaq (-0.8%) sits well behind.

The tech-heavy Nasdaq lags due to relative weakness in high-beta areas like chipmakers and biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 381.07, -5.65) trades lower by 1.5% while the PHLX Semiconductor Index has surrendered 0.8% with all but three components trading in the red. SunEdison (SUNE 19.93, -2.94) is the weakest index member, down 13.0%, in reaction to disappointing results.

Meanwhile, the broader technology sector (-0.5%) trades a bit closer to the broader market thanks to mixed action among its top components. For instance, Apple (AAPL 114.64, -0.24) is lower by 0.2% while IBM (IBM 156.74, +0.14) trades up 0.1%.

10:35 am: [BRIEFING.COM]

The dollar rallied to flat overnight from moderate losses (and lows near 97.6) on sentiment surrounding this morning's US unemployment data
The index saw a lift to positive just before the release, but saw little reaction to an in-line figure (270K vs. 271K consensus) that failed to give the index a direction catalyst
The dollar has since given up the gains it made earlier, and is trading unchanged at 97.9
Crude has been pressed all session by a strengthening dollar, down to moderate losses from flat overnight.
Price momentum today seems to be driven by an interplay of sentiment regarding decreasing US inventory and production and anticipated supply movements by OPEC and Iran
Currently WTI is well below the $45 level, near its LoD at -1.6% to $44.43/barrel
Nat gas futures traded lower ahead of the morning's EIA inventory data release, which was expected to show a build of 46 bcf
Upon release of the data, which showed a build of 32 bcf, natural gas quickly spiked higher, but then faded that move and is now -0.3% to $2.79/MMBtu
Precious metals were flat in early trade, but saw late positive momentum as the dollar weakened on muted reaction to unemployment data.
Both gold and silver are now positive for the day, with gold +0.3% to $1088.50/oz and silver +0.5% to $14.62/oz
Copper is slightly positive at +0.1% to $2.35/lb

10:00 am: [BRIEFING.COM] Equity indices have retreated to new lows with the Dow Jones Industrial Average (-0.6%) trailing the S&P 500 (-0.4%) for the second consecutive day. Meanwhile, the Nasdaq Composite (-0.5%) trades between the two indices.

The consumer discretionary sector (-1.1%) is the weakest performer at this juncture with media names enduring the second consecutive day of heavy selling. Viacom (VIAB 46.17, -5.24) has tumbled 10.2% after reporting in-line results while Disney (DIS 106.06, -4.47) is down 4.1% after plunging 9.2% yesterday.

Elsewhere among discretionary names, retailers trade broadly lower with SPDR S&P Retail ETF (XRT 97.90, -1.09) down 1.1%.

9:40 am: [BRIEFING.COM] The major averages began the trading day just above their flat lines before slipping into the red. The S&P 500 trades lower by 0.2% with nine sectors showing early losses.

The energy sector (-0.9%) began the session behind its peers amid a 1.3% decline in crude oil, which has slid to $44.60/bbl. Elsewhere among cyclical sectors, consumer discretionary (-0.6%) and industrials (-0.4%) lag while financials (+0.2%) outperform. For its part, the top-weighted technology sector trades in-line with the broader market.

The early retreat has been met with a rally in the Treasury market as the 10-yr note trades near its early morning high with the benchmark yield down two basis points at 2.25%.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: +3.90. The stock market is on track for a flat open as S&P 500 futures trade within two points of fair value.

Yesterday, the S&P 500 registered its first advance in four days, but the Dow Jones Industrial Average could not keep pace as Disney (DIS 111.16, +0.63) pressured the price-weighted index after reporting earnings.

Investors have received another batch of quarterly results since yesterday's close, but there were no Dow components among the names that reported. With that said, shares of Tesla (TSLA 251.50, -18.63) are likely to be in focus after the company reported better than expected results, but lowered its delivery guidance, which has sent the stock lower by 6.9% in pre-market action.

On the upside, Michael Kors (KORS 42.60, +3.11) is likely to provide a boost to apparel names after the company beat earnings and revenue estimates.

Today's economic data was limited to weekly initial jobless claims, which increased to 270,000 from 267,000 while the Briefing.com consensus expected a reading of 271,000.

Treasuries hold slim gains after slipping from their overnight highs with the 10-yr yield down one basis point at 2.26%.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: +4.20. The S&P 500 futures trade one point above fair value.

With a few exceptions, markets in the Asia-Pacific region finished lower on Thursday. China's Shanghai Composite (-0.9%) was the weakest among the closely-followed markets. The Nikkei (+0.2%) bucked the broader trend, but ended its session on a weak note.

In economic data:
Japan's June Leading Index 107.2 (expected 106.9; prior 106.2); +1.2% month-over-month (prior +0.6%) and Coincident Indicator +0.7% (prior -2.2%)
Australia's July Employment Change 38,500 (expected 10,000; prior 7,000), July Unemployment Rate 6.3% (expected 6.0%; prior 6.1%), and July Participation Rate 65.1% (expected 64.8%; prior 64.8%)

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Japan's Nikkei increased 0.2%, but closed on a weak note, shedding 0.5% in the last 45 minutes of trading and finished on its low for the session. Modest gains were led by the consumer staples (+3.6%), materials (+2.1%), and industrials (+1.3%) sectors. The best-performing stocks were MEIJI Holdings (+17.0%), Toyobo Co (+7.6%), and Taiyo Yuden (+6.5%). Nippon Suisan Kaisha (-8.5%), Ebara Corp (-6.8%), and Credit Saison (-6.1%) were the weakest issues. Out of the 225 index members, 136 ended higher, 81 finished lower, and 8 were unchanged.
Hong Kong's Hang Seng declined 0.6% and closed near its lows for the day, tracking the action in the mainland market. Li & Fung (-4.2%), China Resources Power Holdings (-3.8%), and Power Assets Holdings (-3.3%) led a long list of laggards. MTR Corp (+1.7%), Belle International Holdings (+1.4%), and CK Hutchison Holdings (+1.0%) paced the winners. Out of the 50 index members, 11 ended higher, 36 finished lower, and 3 were unchanged.
China's Shanghai Composite opened on a weak note, staged a rebound effort, and then closed on a weak note, declining 0.9% for the session on a lack of any market-moving news. The CSI 300 Index also closed down 0.9%.

Major European indices trade near their flat lines with France's CAC (+0.3%) showing relative strength. Elsewhere, the Bank of England made no changes to its policy stance, keeping its key interest rate and purchasing program unchanged at 0.5% and GBP375 billion, respectively. Despite the lack of changes to policy, one member now supports a rate hike after shifting from the 'no change' camp. Separately, the central bank cut its inflation outlook for this year to 0.3% from 0.6% that was expected in May. The pound has retreated 0.5% against the dollar to 1.5520.

Investors received several data points:
Eurozone Retail PMI 54.2 (prior 50.4)
Germany's June Factory Orders +2.0% month-over-month (expected 0.2%; prior -0.3%)
UK's July Halifax House Price Index -0.6% month-over-month (consensus 0.5%; prior 1.6%); +7.9% year-over-year (expected 8.2%; last 9.6%). Separately, June Industrial Production -0.4% month-over-month (expected 0.1%; prior 0.3%); +1.5% year-over-year (consensus 2.2%; prior 1.9%), and Manufacturing Production +0.2% month-over-month (expected 0.2%; previous -0.6%); +0.5% year-over-year (consensus 0.4%; last 1.0%)

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UK's FTSE is lower by 0.1% with miners and energy names on the defensive. Anglo American, Antofagasta, BP, and Glencore show losses between 2.9% and 4.2%. On the upside, insurers outperform with Standard Life, Prudential, and Old Mutual up between 0.9% and 4.7%.
Germany's DAX trades down 0.1% with financials Commerzbank and Deutsche Bank among the laggards. The two names hold respective losses of 1.4% and 0.2%. Conversely, Adidas, Siemens, and BASF outperform with gains between 0.7% and 1.4%
In France, the CAC trades up 0.3% thanks to strength among financials. AXA, BNP Paribas, and Credit Agricole hold gains between 0.5% and 2.2% while steelmaker ArcelorMittal brings up the rear with a 1.9% decline.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +9.30. The S&P 500 futures trade three points above fair value.

The latest weekly initial jobless claims count totaled 270,000 while the Briefing.com consensus expected a reading of 271,000. Today's tally was above the unrevised prior week count of 267,000. As for continuing claims, they fell to 2.255 million from 2.269 million.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +10.30. U.S. equity futures hover near their pre-market highs after breaking out of their overnight ranges during the past hour. The S&P 500 futures hover four points above fair value.

On the economic front, weekly initial claims will be released at 8:30 ET (Briefing.com consensus 271,000).

Treasuries are little changed with the 10-yr yield at 2.27%.

In U.S. corporate news of note:

21st Century Fox (FOXA 31.00, -0.92): -2.9% after beating bottom-line estimates on light revenue.
Allergan (AGN 337.00, +0.36): +0.1% in reaction to a bottom-line beat.
Fitbit (FIT 45.50, -6.14): -11.6% despite beating earnings and revenue estimates and guiding above analyst expectations.
Herbalife (HLF 54.00, +4.90) +10.0% after beating estimates.
Michael Kors (KORS 42.55, +3.06): +7.8% after above-consensus results overshadowed cautious guidance.
Tesla (TSLA 253.30, -16.83): -6.2% after lowered delivery guidance overshadowed better than expected earnings and revenue.

Reviewing overnight developments:

Asian markets ended mostly lower. China's Shanghai Composite -0.9%, Hong Kong's Hang Seng -0.6%, and Japan's Nikkei +0.2%
In economic data:
Japan's June Leading Index 107.2 (expected 106.9; prior 106.2); +1.2% month-over-month (prior +0.6%) and Coincident Indicator +0.7% (prior -2.2%)
Australia's July Employment Change 38,500 (expected 10,000; prior 7,000), July Unemployment Rate 6.3% (expected 6.0%; prior 6.1%), and July Participation Rate 65.1% (expected 64.8%; prior 64.8%)
In news:
Australia's better than expected employment report briefly boosted the Australian dollar, but the currency quickly retraced that gain and began retreating against the dollar. Currently, the pair hovers near 0.7325 (-0.4%)

Major European indices trade near their flat lines. France's CAC +0.4%, Germany's DAX +0.2%, and UK's FTSE +0.1%. Elsewhere, Italy's MIB -0.1% and Spain's IBEX -0.1%
Investors received several data points:
Eurozone Retail PMI 54.2 (prior 50.4)
Germany's June Factory Orders +2.0% month-over-month (expected 0.2%; prior -0.3%)
UK's July Halifax House Price Index -0.6% month-over-month (consensus 0.5%; prior 1.6%); +7.9% year-over-year (expected 8.2%; last 9.6%). Separately, June Industrial Production -0.4% month-over-month (expected 0.1%; prior 0.3%); +1.5% year-over-year (consensus 2.2%; prior 1.9%), and Manufacturing Production +0.2% month-over-month (expected 0.2%; previous -0.6%); +0.5% year-over-year (consensus 0.4%; last 1.0%)
Among news of note:
The Bank of England made no changes to its policy stance, keeping its key interest rate and purchasing program unchanged at 0.5% and GBP375 billion, respectively. Despite the lack of changes to policy, one member now supports a rate hike after shifting from the 'no change' camp. Separately, the central bank cut its inflation outlook for this year to 0.3% from 0.6% that was expected in May.

5:59 am: [BRIEFING.COM] S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: +0.40.

5:59 am: [BRIEFING.COM] Nikkei...20664.44...+50.40...+0.20%. Hang Seng...24375.28...-138.90...-0.60%.

5:59 am: [BRIEFING.COM] FTSE...6721.77...-30.60...-0.50%. DAX...11635.29...-1.00...0.00%.

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

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

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