TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 6:55 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: August 14th Friday Trade Results - Profit $3062.50
PostPosted: Fri Aug 14, 2015 6:59 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
081415-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3062.50.png
081415-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3062.50.png [ 95.47 KiB | Viewed 342 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $3062.50 dollars or +61.25 points, Light Crude Oil CL ($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 @ $3062.50 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=2147

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.

-----------------------------

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.

Attachment:
081415-Key-Price-Action-Markets.png
081415-Key-Price-Action-Markets.png [ 1.2 MiB | Viewed 281 times ]

click on the above image to view today's price action of key markets


4:05 pm: [BRIEFING.COM] The stock market ended a volatile week on a modestly higher note with the S&P 500 adding 0.4%. The benchmark index extended its weekly gain to 0.7% while the Nasdaq Composite (+0.3%) underperformed, ending the week higher by 0.1%.

The first four trading days of the week were jam-packed with macroeconomic events, but the Friday affair was very quiet with fewer than 700 million shares changing hands at the NYSE floor.

Equity indices began the final session of the week near their flat lines and spent the first two hours of action alternating between gains and losses. However, heavily-weighted sectors like financials (+0.7%) and industrials (+0.6%) displayed relative strength from the early going while the top-weighted technology sector (+0.5%) contributed to the afternoon strength.

The financial sector continued its rebound off Wednesday's low with today's move lifting the influential sector to a weekly gain of 0.3%. Meanwhile, industrials received support from transport stocks, evidenced by a 0.7% increase in the Dow Jones Transportation Average. The bellwether complex gained 0.8% for the week with 19 of 20 components contributing to today's advance. Freight carrier Con-way (CNW 37.45, +0.71) was the top performer, climbing 1.9% while shipper Matson (MATX 40.79, -0.05) shed 0.1%.

Elsewhere, the technology sector overcame relative weakness among high-beta chipmakers with large cap components like Apple (AAPL 116.00, +0.85), Google (GOOGL 689.37, +2.86), and Microsoft (MSFT 47.00, +0.27) gaining between 0.4% and 0.7% while the PHLX Semiconductor Index lost 0.6% and contributed to the underperformance in the Nasdaq.

Similarly, biotechnology names also weighed on the Nasdaq, but iShares Nasdaq Biotechnology ETF (IBB 364.06, -2.33) was able to narrow its loss to 0.6% by the close. The ETF surrendered 1.3% for the week while the health care sector added 0.3% today, ending the week flat.

On the downside, the energy sector (-0.2%) was among the early leaders, but retreated as crude oil slid from its morning high. The energy component added 0.5% and settled at $42.47/bbl, but still lost 3.6% for the week. Meanwhile, the energy sector climbed 3.2% during the week, ending ahead of the remaining nine groups.

Treasuries registered slim losses after slipping in reaction to a July PPI report that came in just ahead of expectations. The 10-yr note ended just below its flat line with the benchmark yield adding one basis point to 2.20%.

Also of note, today's eurogroup meeting with Greek representatives produced an agreement, which puts Greece on track to receive EUR13 billion in bailout funds next week.

Economic data included PPI, Industrial Production, and the Michigan Sentiment Index:
Related Stories

InPlay from Briefing.com Briefing.com
Stocks Quietly Mixed; Nordstrom, WuXi, CyberArk Climb Investor's Business Daily
Stocks Mixed; Nordstrom, YY Up After Hours Investor's Business Daily
US STOCKS-Tech leads Nasdaq, S&P 500; Disney sparks media selloff Reuters
Bond Market Update from Briefing.com Briefing.com

Producer prices increased 0.2% in July after increasing 0.4% in June while the Briefing.com consensus expected an increase of 0.1%
Energy prices, which provided the bulk of the gain in June, fell 0.6% in July. Gasoline prices increased 1.5%, but that was offset by big declines in the prices of home heating oil (-9.5%), liquefied petroleum (-4.3%), diesel fuel (-2.6%), and residential natural gas (-2.4%)
Food prices fell 0.1% in July after increasing 0.6% in June
Excluding food and energy, core prices increased 0.3% for a second consecutive month in July while the consensus expected an increase of 0.1%
The entire increase in core prices resulted from a 0.4% increase in services prices
Industrial production increased 0.6% in July after increasing a downwardly revised 0.1% (from 0.2%) in June while the Briefing.com consensus expected an increase of 0.3%
That was the largest increase since a 0.9% increase in November 2014
Manufacturing production increased 0.8% in July after declining 0.3% in June
Nearly the entire increase in industrial production resulted from historic gains in the auto industry. Excluding autos, total industrial production was flat in July and manufacturing production increased only 0.1%
The University of Michigan Consumer Sentiment Index declined to 92.9 in the preliminary August reading from 93.1 in July while the Briefing.com consensus expected an increase to 93.7
Concerns over a downward trending stock market were offset by improvements in labor market conditions, as shown by the historic lows in the initial claims level, and lower gasoline prices
Both the Current Conditions (107.1 from 107.2) and Expectations (83.8 from 84.1) Indices were virtually unchanged in August

On Monday, the Empire Manufacturing Index for August will be released at 8:30 ET while the August NAHB Housing Market Index will be reported at 10:00 ET.

Nasdaq Composite +6.6% YTD
S&P 500 +1.6% YTD
Russell 2000 +0.6% YTD
Dow Jones Industrial Average -1.9% YTD

Week in Review: China Seizes the Spotlight

The stock market began the trading week on a sharply higher note with the S&P 500 spiking 1.3% while the Dow (+1.4%) and Nasdaq (+1.2%) bookended the benchmark index. Equity indices surged out of the gate after the overnight session featured a 4.9% spike in China's Shanghai Composite after below-consensus trade data from China was viewed as an argument in favor of more policy easing. The overnight strength carried over to the European session as regional indices rallied amid reports suggesting Greek officials and eurozone negotiators are nearing a final agreement on a third bailout package for Greece. Once the opening bell rang on Wall Street, U.S. stocks perked up with the S&P 500 charging above its 50-day (2,096) and 100-day (2,098) moving averages. The benchmark index overtook both those levels during the opening hour, and inched to new highs during afternoon action with nine sectors ending in the green.

Global equity markets retreated on Tuesday as investors responded to an overnight devaluation of China's yuan. Specifically, the People's Bank of China lowered the yuan fix by the largest amount on record, sending the USD/CNY pair higher by 1.9% to 6.3249. The move invited renewed trepidations about the pace of economic growth in China while also feeding concerns that China's trading partners may feel compelled to respond by weakening their own currencies. For instance, the Japanese yen was in focus during the session amid speculation the Bank of Japan may be forced to step up its easing efforts to support the country's exporters. As a result, the dollar/yen pair climbed 0.4% to 125.07, nearing a 13-year high. The major European indices lost between 1.1% and 2.7% with the retreat paced by exporter stocks while the S&P settled lower by 1.0% and retraced the bulk of its advance from Monday. The day's selling sent the benchmark index back below its 50-day (2,096) and 100-day (2,098) moving averages with eight sectors registering losses. To little surprise, cyclical groups paced the slide, but the energy sector (-0.2%) spent the day in a steady rally off its opening low. The sector fought its way back to Monday's high even as crude oil plunged 4.2% to $43.08/bbl, settling at a six-year low.

The market ended Wednesday on a slightly higher note despite showing considerable weakness at the start of the trading day. The S&P 500 added 0.1% while the Nasdaq Composite (+0.2%) settled just ahead. Equity indices faced selling pressure at the start after the overnight session featured another move to devalue China's yuan. Specifically, the People's Bank of China fixed the yuan 1.6% lower and then stepped in to support the currency late in the session. Following the intervention, the USD/CNY pair ended higher by 1.0% at 6.3870 while the continued tinkering with the exchange rate by the PBoC fueled a continuation of Tuesday's risk-off move across global markets. The selling pressure persisted until the end of the European session with major equity indices across the old continent losing between 1.4% and 3.4%. Regional markets notched their session lows not long before the close, after Germany's Bild reported that the German government views the third Greek bailout package as insufficient. This was a noteworthy shift, considering the market had believed the bailout agreement was all but complete. Once equity markets in Europe closed, U.S. indices rallied steadily off their lows with the S&P 500 swiftly returning above its 200-day moving average (2,075). Thanks to the intraday recovery, seven sectors registered gains while three groups finished in the red, but above their early lows.

The stock market ended the Thursday session on a modestly lower note after spending some time on both sides of the unchanged level. The S&P 500 shed 0.1% while the Dow Jones Industrial Average eked out a slight gain (+0.03%). Overnight, the People's Bank of China tried to calm investor fears by holding a press conference, during which bank officials said the yuan adjustment "is almost complete" and called the rumors of a 10.0% devaluation "nonsense." Markets across Asia posted gains while European indices ended mostly higher. Once the U.S. session got going, stocks slipped from their opening levels, but the early weakness was largely isolated to the energy sector (-1.4%), which retreated alongside crude oil. The energy component faced selling pressure throughout the day, notching a fresh six-year low under $42.00/bbl during intraday action before inching up to settle lower by 2.3% at $42.25/bbl.

3:35 pm: [BRIEFING.COM]

The dollar index is trading modestly higher, which is helping provide a little pressure on commodities in afternoon trading.
Silver and gold futures are trading near today's lows, while copper is back near the unchanged line.
Silver is currently down 1.3% in electronic trade at $15.21/oz, after closing -1.2% at $15.21/oz. Dec gold finished the session -0.3% at $1112.60/oz
WTI crude oil is holding above $42/barrel, but just now fell back into the red in electronic trade, currently at $42.19/barrel
Sept crude oil closed its pit trading session 0.5% at $42.47/barrel
Sept natural gas is up 0.6% at $2.80/MMBtu, closing its pit trading session +0.4%.

2:55 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.3% with one hour remaining in the session. Given its current level, the benchmark index is on track to end the week higher by 0.6%.

Nine sectors hold gains going into the final hour while the energy space (-0.4%) remains in the red after surrendering its early lead. On a related note, crude oil slid from its session high just ahead of the pit close, narrowing its gain to 0.5% at $42.47/bbl. The energy component has continued its retreat in electronic trading, trimming its advance to 0.1% at $42.29/bbl.

For the week, crude oil lost 3.6% while the energy sector is on track to end the week higher by 3.1%.

2:25 pm: [BRIEFING.COM] Equity indices hover near their session highs as the quiet afternoon continues. The Dow Jones Industrial Average (+0.3%) leads while S&P 500 (+0.2%) follows not far behind.

All in all, today's affair has been very subdued, evidenced by the below-average trading volume. To that point, only 355 million shares have changed hands at the NYSE floor with 90 minutes remaining in the trading day.

Elsewhere, Treasuries have spent some time on each side of their flat lines, but the 10-yr yield has returned to unchanged at 2.19%.

1:55 pm: [BRIEFING.COM] The major averages continue holding slim gains.

A historic number of vehicles assembled boost the industrial production data.

Industrial production increased 0.6% in July after increasing a downwardly revised 0.1% (from 0.2%) in June. The Briefing.com Consensus expected industrial production to increase 0.3%.

That was the largest increase in industrial production since a 0.9% gain in November 2014.

Manufacturing production increased 0.8% in July after declining 0.3% in June. That was the largest increase in manufacturing production since a 0.9% gain in November 2014.

Nearly the entire increase in industrial production was the result of historic gains in the auto industry. Excluding autos, total industrial production was flat in July and manufacturing production increased only 0.1%.

Motor vehicle assemblies increased to 13.61 mln SAAR in July from 11.81 mln SAAR in June. To put that number in perspective, July assemblies were the most since 13.89 mln SAAR were assembled in November 1978, and assemblies have only exceeded the July level twice since data started being collected in January 1967. The level of July assemblies also explain the large increase in the Chicago PMI Production Index, which rose to 61.8 from 49.8 in June.

1:35 pm: [BRIEFING.COM] The major U.S. indices continue to tick higher following this morning's mixed action.

A look inside the Dow Jones Industrial Average shows DuPont (DD 53.82, +0.79), Caterpillar (CAT 78.56, +0.80), and General Electric (GE 26.05, +0.26) are outperforming. DuPont this morning was upgraded to overweight at JP Morgan, while Caterpillar is enjoying gains along its peers in the industrial space, the best performing sector in today's action. GE last night announced it would sell its U.S. online deposit platform, including ~$16 bln of deposits, to Goldman Sachs (GS 201.74, +1.00). The company said it was a key step in its plan for GE Capital to exit the U.S. banking system and become less systemically important. Also providing a lift for shares, there was a Reuters report earlier that suggested the EU was likely to approve GE's acquisition of Alstom's power unit.

Conversely, Procter & Gamble (PG 75.54, -0.24) is the worst-performing Dow component.

As we near the end of the session, the DJIA is up 0.54% this week, but still down -1.25% in August.

12:55 pm: [BRIEFING.COM] Equity indices are little changed at midday with the Dow (+0.1%) and S&P 500 (+0.1%) holding slim gains while the Nasdaq Composite (-0.2%) underperforms.

The first half of the Friday session has been very quiet with the S&P 500 bouncing inside an eight-point range. Heavily-weighted industrials (+0.4%) and financials (+0.3%) have shown relative strength since the early going while the remaining groups have alternated between gains and losses. That being said, the top-weighted technology sector (+0.2%) trades just ahead of the broader market, which could become a supportive factor for the market if the sector builds on its gain.

Despite the modest gain in technology, high-beta chipmakers underperform with the PHLX Semiconductor Index trading lower by 1.1%. That weakness combined with losses in the biotech industry group has kept the Nasdaq Composite (-0.2%) behind the broader market. As for biotechnology, the iShares Nasdaq Biotechnology ETF (IBB 360.98, -5.41) trades lower by 1.5% while the broader health care sector (-0.2%) holds a slimmer loss.

Elsewhere, the industrial sector (+0.4%) has received a boost from transport stocks, evidenced by a 0.5% gain in the Dow Jones Transportation Average. Norfolk Southern (NSC 82.07, +1.05) is the top index performer, trading higher by 1.3% while the DJTA is on track to end the week higher by 0.7% versus a 0.3% gain for the S&P 500.

On the downside, the energy sector (-0.2%) has slipped to the bottom of the leaderboard despite opening in the lead. Crude oil, meanwhile, trades higher by 0.7% at $42.50/bbl after testing the $42.90/bbl level earlier. Even with the current downtick, the energy sector is on course to end the week higher by 3.3%.

Treasuries held gains during overnight action, but slid to lows after a hotter-than-expected PPI report for July. The move into the red was short-lived as the 10-yr note is back in positive territory with its yield down one basis point at 2.18%.

Economic data included PPI, Industrial Production, and the Michigan Sentiment Index:

Producer prices increased 0.2% in July after increasing 0.4% in June while the Briefing.com consensus expected an increase of 0.1%
Energy prices, which provided the bulk of the gain in June, fell 0.6% in July. Gasoline prices increased 1.5%, but that was offset by big declines in the prices of home heating oil (-9.5%), liquefied petroleum (-4.3%), diesel fuel (-2.6%), and residential natural gas (-2.4%)
Food prices fell 0.1% in July after increasing 0.6% in June
Excluding food and energy, core prices increased 0.3% for a second consecutive month in July while the consensus expected an increase of 0.1%
The entire increase in core prices resulted from a 0.4% increase in services prices
Industrial production increased 0.6% in July after increasing a downwardly revised 0.1% (from 0.2%) in June while the Briefing.com consensus expected an increase of 0.3%
That was the largest increase since a 0.9% increase in November 2014
Manufacturing production increased 0.8% in July after declining 0.3% in June
Nearly the entire increase in industrial production resulted from historic gains in the auto industry. Excluding autos, total industrial production was flat in July and manufacturing production increased only 0.1%
The University of Michigan Consumer Sentiment Index declined to 92.9 in the preliminary August reading from 93.1 in July while the Briefing.com consensus expected an increase to 93.7
Concerns over a downward trending stock market were offset by improvements in labor market conditions, as shown by the historic lows in the initial claims level, and lower gasoline prices
Both the Current Conditions (107.1 from 107.2) and Expectations (83.8 from 84.1) Indices were virtually unchanged in August

12:25 pm: [BRIEFING.COM] Quiet action continues with the S&P 500 (+0.1%) drifting just above its flat line while the Nasdaq (-0.2%) remains in the red as high-beta chipmaker and biotechnology names pressure the tech-heavy index.

The biotech group has struggled since the start, and the iShares Nasdaq Biotechnology ETF (IBB 361.38, -5.01) remains lower by 1.4% at this juncture. Meanwhile, chipmakers have also underperformed since the early going. The PHLX Semiconductor Index remains lower by 0.7% after hitting a session low around 11:20 ET.

Elsewhere, Treasuries have inched up off their lows, but they continue holding slim losses with the 10-yr yield up one basis point at 2.19%.
Related Quotes

11:55 am: [BRIEFING.COM] The S&P 500 (+0.2%) has lurched back into the green, but the despite the ongoing gyrations, the index remains inside an eight-point range as the quiet session continues.

Sector standing has not changed much with financials (+0.4%), industrials (+0.4%), and materials (+0.4%) remaining ahead of the rest of the pack. In the industrial sector, transport stocks have built on their recent gains with the Dow Jones Transportation Average now up 0.5% amid gains in 19 of 20 components. Norfolk Southern (NSC 82.02, +1.00) is the top performer, trading higher by 1.2% while Mattson (MATX 40.60, -0.24) underperforms with a slim loss of 0.6%.

On the flip side, consumer staples (-0.1%) and health care (-0.1%) remain in the red.

11:25 am: [BRIEFING.COM] The major averages have returned into the red with the S&P 500 (-0.1%) inching down to a fresh session low while the Nasdaq Composite (-0.3%) continues showing relative weakness.

With the recent dip into negative territory, only three sectors continue holding gains while the other seven groups display losses with the health care sector (-0.4%) pacing the move. In our previous update, we noted that the health care sector was holding up relatively well in the face of weakness among biotech names, but the top-weighted countercyclical group has slid to lows in recent action. Meanwhile, the remaining decliners show losses of no more than 0.2%.

On the upside, financials (+0.2%), industrials (+0.2%), and materials (+0.3%) hover just above their flat lines with transport stocks contributing to the modest gains among industrial names. The Dow Jones Transportation Average is higher by 0.1% with 15 of its 20 components holding gains.

10:55 am: [BRIEFING.COM] Not much change in the market with the key indices remaining near their flat lines. The S&P 500 (+0.1%) has recently returned to the unchanged level after showing a slim four-point gain during the past 30 minutes. Meanwhile, the Nasdaq Composite (-0.1%) underperforms amid relative weakness in biotechnology.

The iShares Nasdaq Biotechnology ETF (IBB 362.19, -4.20) is lower by 1.2% while the health care sector (-0.1%) continues trading in the neighborhood of the broader market. Including today's decline, the biotech ETF is down 1.8% for the week while the health care sector has surrendered 0.3% since last Friday versus a 0.4% gain for the S&P 500.

On the upside, the financial sector (+0.3%) has seized the lead while the energy sector (-0.4%) has slid all the way to the bottom of today's leaderboard.

10:35 am: [BRIEFING.COM]

The dollar index traded near flat overnight, before seeing a gradual weakening in early trade, largely on relative strength in both the Euro and Yuan
The index's briefly touched lows near the 96.1 level before seeing a rally to near-flat, partially driven by the release of stronger-than-expected US Industrial data
The dollar has since fallen to modest losses for the session, on a lack of momentum from in-line Michigan Consumer Sentiment, and is now -0.1% to 96.35
Crude oil trended modestly negative in early trade, following new multi-year lows of $41.35/barrel made overnight, before rallying to above the flat-line as the dollar notably weakened
Overnight prices were also prefaced yesterday afternoon, when oil briefly broke through its March, 2015 multi-year low $42.03 level
Later today, the weekly Baker Hughes rig count data will be released at 1 pm ET, which will likely act as a catalyst for oil prices
WTI is now extending recent gains at +1.1% to $42.69/barrel
Natural gas is moderately positive this morning, as a reversal from yesterday's rout (where it closed -4.8%) has the September contract up by +0.9% to $2.81/MMBtu
Precious metals are trading higher, but are off early-morning highs, set against headlines stating that the Chinese gov't bought 600K oz in July.
Gold now stands at +0.3% to $1118.90/oz and silver is +0.9% to $15.53/oz
Copper is trading nearly flat at -0.1% to $2.35/lb

10:00 am: [BRIEFING.COM] The major averages have climbed off their early lows with the S&P 500 now up 0.2% amid gains in nine sectors.

The preliminary reading of the University of Michigan Consumer Sentiment survey for August fell to 92.9 from the reading of 93.1 that was reported in July. The Briefing.com consensus expected an uptick to 93.7.

9:40 am: [BRIEFING.COM] Equity indices began the trading day just below their flat lines and they remain near those levels at this time.

The energy sector (+0.5%) has charged out of the gate amid a rebound in crude oil that has sent the energy component higher by 1.5% to $42.86/bbl. Meanwhile, the other commodity-related sector-materials (+0.1%)-also trades in the green while the remaining groups hover closer to their flat lines.

Elsewhere, Treasuries have extended their losses with the 10-yr yield now up three basis points at 2.21%.

The preliminary reading of the Michigan Sentiment Index for August will be released at 10:00 ET (Briefing.com consensus 93.7).

9:16 am: [BRIEFING.COM] S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: -4.10. The stock market is on track for a modestly lower open as S&P 500 futures trade one point below fair value. Index futures notched their highs around the start of the European session, but they have headed lower since then.

There was no news associated with the early-morning turn, but the overnight dynamic has fit right in with the recent choppy action in the market.

Meanwhile, U.S. Treasuries have notched fresh lows not long ago after the Producer Price Index for July came in ahead of expectations (+0.2%; Briefing.com consensus 0.1%). The 10-yr note holds a slim loss with its yield up two basis points at 2.20%.

Separately, the just released Industrial Production report pointed to an increase of 0.6% in July, which was better than the 0.3% increase expected by the Briefing.com consensus. Capacity utilization hit 78.0% which is what the Briefing.com consensus expected.

One more data point remains with the preliminary reading of the Michigan Sentiment Index for August scheduled to be released at 10:00 ET (Briefing.com consensus 93.7).

8:50 am: [BRIEFING.COM] S&P futures vs fair value: -2.40. Nasdaq futures vs fair value: -7.80. The S&P 500 futures trade two points below fair value.

Overall, it was a mixed performance for equity markets in the Asia-Pacific region on Friday. Investors' nerves were calmed a bit when the People's Bank of China set the midpoint for the yuan slightly lower than the previous day's close, creating an opening of sorts for this week's devaluation trend to be broken. Even so, broader economic concerns that have manifested themselves in the slump in commodity prices kept buying efforts mostly in check, with India (+1.9%) being the exception on that front.

In economic data:
Hong Kong's Q2 GDP +0.4% quarter-over-quarter (prior +0.7%); +2.8% year-over-year (prior +2.4%)
India's July WPI Inflation -4.05% year-over-year (expected -2.8%; prior -2.4%), July WPI Food -1.16% year-over-year (prior +2.9%), and July WPI Fuel -12.81% year-over-year (prior -10.0%)
Singapore's June Retail Sales +0.6% month-over-month (prior +2.2%); +6.9% year-over-year (prior +5.9%)
New Zealand's Q2 Retail Sales +0.1% quarter-over-quarter (expected +0.5%; prior +2.3%) and Q2 Core Retail Sales +0.1% quarter-over-quarter (expected +0.7%; prior +2.5%)

------

Japan's Nikkei declined 0.4%, pressured by weakness in the industrials (-1.4%) and energy (-1.0%) sectors. Comsys Holdings (-4.0%), Amada Holdings (-3.9%), and Kubota Corp (-3.8%) were the worst-performing issues. On the flip side, Furukawa (+5.3%), Nippon Paper Industries (+4.0%), and Oji Holdings (+3.9%) topped the list of winners. Out of the 225 index members, 64 ended higher, 153 finished lower, and 8 were unchanged. For the week, the Nikkei declined 1.0%.
Hong Kong's Hang Seng declined 0.1% in a slow fade from a modest opening gain. Lenovo Group (-5.8%), Want Want China Holdings (-4.5%), and China Resources Power Holdings (-3.5%) paced the laggards while Citic (+6.6%), BOC Hong Kong Holdings (+3.0%), and MTR Corp (+2.1%) paced the winners. Out of the 50 index members, 20 ended higher, 26 finished lower, and 4 were unchanged. For the week, the Hang Seng declined 2.3%.
China's Shanghai Composite increased 0.3% in a cautious affair that didn't see a whole lot of conviction from buyers or sellers. The modest gain followed a decision by the PBOC to set the midpoint of the yuan slightly lower than the previous day's close, which interrupted this week's devaluation pattern. USD/CNY was down 0.1% to 6.3912. For the week, the Shanghai Composite A Share increased 5.9%.

Major European indices trade lower across the board with France's CAC (-0.6%) showing the largest decline. Elsewhere, the Greek parliament has approved the conditions associated with a bailout package in the amount of EUR85 billion, which will be discussed among eurozone finance ministers at today's eurogroup meeting in Brussels.

Participants received several data points:
Eurozone preliminary Q2 GDP +0.3% quarter-over-quarter (expected 0.4%; prior 0.4%); +1.2% year-over-year (consensus 1.3%; last 1.0%). Separately, July CPI -0.6% month-over-month, as expected, and Core CPI +1.0% year-over-year, as expected
Germany's preliminary Q2 GDP +0.4% quarter-over-quarter (expected 0.5%; prior 0.3%); +1.6% year-over-year (expected 1.5%; last 1.1%)
France's preliminary Q2 GDP 0.0% quarter-over-quarter (consensus 0.2%; prior 0.7%) while Q2 Nonfarm Payrolls +0.2% quarter-over-quarter (expected 0.1%; prior 0.0%)
Italy's preliminary Q2 GDP +0.2% quarter-over-quarter (expected 0.3%; prior 0.3%); +0.5% year-over-year, as expected (previous 0.1%)

------

UK's FTSE is lower by 0.2% with energy and insurance names among the laggards. Old Mutual, Prudential, Royal Dutch Shell, and BP are down between 0.6% and 1.2%. On the upside, homebuilders Barratt Developments and Taylor Wimpey outperform with gains close to 1.6% apiece.
Germany's DAX has given up 0.4% with about 2/3 of its components trading in the red. Financials Commerzbank and Deutsche Bank are among the weakest performers with respective losses of 2.1% and 1.9%. Meanwhile, basic materials names outperform with K+S, Lanxess, and ThyssenKrupp up between 0.4% and 1.3%.
In France, the CAC trades down 0.6% amid broad weakness. Financials AXA, BNP Paribas, and Societe Generale show losses between 0.9% and 1.1%. On the upside, defense contractor Safran outperforms with a gain of 1.7%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -4.40. Nasdaq futures vs fair value: -12.20. The S&P 500 futures trade four points below fair value.

July producer prices rose 0.2% while the Briefing.com consensus expected an increase of 0.1%. Core producer prices increased 0.3% while the consensus expected a reading of 0.1%.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -8.30. U.S. equity futures trade near their pre-market lows after sliding from their overnight highs during the past three hours. The S&P 500 futures hover four points below fair value.

The overnight session was fairly quiet with the People's Bank of China strengthening the yuan for the first time in four days. The move was relatively small in scope, sending the USD/CNY pair lower by 0.1% to 6.3918.

Meanwhile, U.S. Treasuries hover near their best levels of the day with the 10-yr yield down two basis points at 2.17%.

On the economic front, July PPI (Briefing.com consensus 0.1%) will be reported at 8:30 ET while July Industrial Production (consensus 0.3%) and Capacity Utilization (expected 78.0) will both be released at 9:15 ET. The day's data will be topped off with the 10:00 ET release of the preliminary reading of the Michigan Sentiment Index for August (expected 93.7).

In U.S. corporate news of note:

Applied Materials (AMAT 16.80, -0.25): -1.5% after reporting in-line earnings on below-consensus revenue. Also of note, the chipmaker issued below-consensus earnings guidance.
El Pollo Loco (LOCO 15.55, -2.81): -15.3% in reaction to a one-cent beat on light revenue.
J.C. Penney (JCP 8.63, +0.56): +6.9% after reporting a smaller than expected loss.
King Digital (KING 13.45, -1.75): -11.5% in reaction to a bottom-line beat and a lowered outlook.
Nordstrom (JWN 78.94, +4.02): +5.4% after beating bottom-line estimates and raising its guidance for fiscal year 2016.

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite +0.3%, Japan's Nikkei -0.4%, and Hong Kong's Hang Seng -0.1%
In economic data:
Hong Kong's Q2 GDP +0.4% quarter-over-quarter (prior +0.7%); +2.8% year-over-year (prior +2.4%)
India's July WPI Inflation -4.05% year-over-year (expected -2.8%; prior -2.4%), July WPI Food -1.16% year-over-year (prior +2.9%), and July WPI Fuel -12.81% year-over-year (prior -10.0%)
Singapore's June Retail Sales +0.6% month-over-month (prior +2.2%); +6.9% year-over-year (prior +5.9%)
New Zealand's Q2 Retail Sales +0.1% quarter-over-quarter (expected +0.5%; prior +2.3%) and Q2 Core Retail Sales +0.1% quarter-over-quarter (expected +0.7%; prior +2.5%)
In news:
Despite this week's gyrations in the Asian currency market, China's Shanghai Composite was able to continue its bounce off recent lows, climbing 5.9% for the week

Major European indices trade lower across the board. UK's FTSE -0.1%, Germany's DAX -0.4%, and France's CAC -0.5%. Elsewhere, Italy's MIB -0.4% and Spain's IBEX -0.3%
Participants received several data points:
Eurozone preliminary Q2 GDP +0.3% quarter-over-quarter (expected 0.4%; prior 0.4%); +1.2% year-over-year (consensus 1.3%; last 1.0%). Separately, July CPI -0.6% month-over-month, as expected, and Core CPI +1.0% year-over-year, as expected
Germany's preliminary Q2 GDP +0.4% quarter-over-quarter (expected 0.5%; prior 0.3%); +1.6% year-over-year (expected 1.5%; last 1.1%)
France's preliminary Q2 GDP 0.0% quarter-over-quarter (consensus 0.2%; prior 0.7%) while Q2 Nonfarm Payrolls +0.2% quarter-over-quarter (expected 0.1%; prior 0.0%)
Italy's preliminary Q2 GDP +0.2% quarter-over-quarter (expected 0.3%; prior 0.3%); +0.5% year-over-year, as expected (previous 0.1%)
Among news of note:
The Greek parliament has approved the conditions associated with a bailout package in the amount of EUR85 billion, which will be discussed among eurozone finance ministers at today's eurogroup meeting in Brussels

5:50 am: [BRIEFING.COM] S&P futures vs fair value: -2.60. Nasdaq futures vs fair value: -7.80.

5:50 am: [BRIEFING.COM] Nikkei...20519.45...-76.10...-0.40%. Hang Seng...23991.03...-27.80...-0.10%.

5:50 am: [BRIEFING.COM] FTSE...6572.40...+4.10...+0.10%. DAX...11019.70...+5.10...+0.10%.

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

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr