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 2:52 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: August 18th Tuesday Trade Results - Profit $1020.00
PostPosted: Wed Aug 19, 2015 3:28 am 
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:
081815-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1020.00.png
081815-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1020.00.png [ 95.88 KiB | Viewed 293 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $20.00 dollars or +0.20 points, Emini ES ($ES_F) futures @ $1000.00 dollars or +20.00 points, Light Crude Oil CL ($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 @ $1020.00 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=2149

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.


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


4:10 pm: [BRIEFING.COM] After enjoying a broad-based spike on Monday, the stock market surrendered more than half of that gain on Tuesday. The S&P 500 lost 0.3%, narrowing its weekly advance to 0.3%, while the Nasdaq Composite (-0.6%) underperformed.

Although the Tuesday session produced a different outcome than Monday's affair, investor participation remained below-average with fewer than 700 million shares changing hands at the NYSE floor.

Equities began the day with modest losses after the overnight session featured a resumption of heavy selling in China that sent the Shanghai Composite lower by 6.2%. There was no clear-cut reason for the plunge, but some pointed to a better than feared Housing Starts report, which could keep the People's Bank of China from implementing additional stimulus measures.

The overnight weakness was followed by a shaky session in Europe while U.S. indices made a brief appearance in the green before revisiting their morning lows. The S&P 500 slid below its 100-day moving average (2,098) during midday action and hit its session low just a point below the 50-day average (2,095) before settling just above that level.

Nine of ten sectors ended the day in negative territory with losses ranging from 0.01% (telecom services) and 0.7% (materials). The materials sector underperformed throughout the day with steelmakers showing notable weakness, evidenced by a 1.6% decline in Market Vectors Steel ETF (SLX 26.38, -0.44). Meanwhile, the other commodity-related sector-energy (-0.4%)-ended among the laggards even as crude oil spiked 1.8% to $42.62/bbl.

Elsewhere among cyclical groups, the consumer discretionary sector (+0.1%) stayed ahead of the broader market throughout the trading day thanks to a few pockets of strength. Homebuilders were propelled higher by a better than expected earnings report from Home Depot (HD 122.80, +3.10). The Dow component rallied 2.6% while apparel names were mixed after Urban Outfitters (URBN 31.55, -0.68) and TJX (TJX 76.46, +4.85) reported earnings. Urban Outfitters retreated 2.1% after below-consensus revenue and comparable store sales overshadowed a bottom-line beat while TJX spiked 6.8% after beating earnings estimates.

Staying on the earnings theme, Wal-Mart (WMT 69.48, -2.43) fell 3.4% in reaction to a bottom-line miss and lower earnings guidance for Q3 and fiscal year 2016.

Switching gears, Treasuries climbed during overnight action, but the 10-yr note reversed from its overnight high, falling to lows after the release of today's economic data. The 10-yr note slipped to a new low just ahead of the close, pushing the benchmark yield up three basis points to 2.20%.

Economic data was limited to Housing Starts and Building Permits:

Housing starts in July ran at a seasonally adjusted annual rate of 1.206 million, up 0.2% from an upwardly revised 1.204 million rate (from 1.174 mln) in June
The July figure was pretty much in-line with the Briefing.com consensus estimate, which stood at 1.200 million
The upshot of this report is that the increase was powered by starts of single-family homes as they jumped 12.8% to 782,000, with increases seen in all regions
Building permits in July were at a seasonally adjusted annual rate of 1.119 million, which was 16.3% below the revised June rate of 1.337 million (from 1.343 mln) and well below the Briefing.com consensus estimate of 1.257 million
Single-family permits dipped 1.9% to 679,000

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET while July CPI (Briefing.com consensus 0.2%) will cross the wires at 8:30 ET. The day's data will be topped off with the 14:00 ET release of the FOMC Minutes from the July meeting.

Nasdaq Composite +6.8% YTD
S&P 500 +1.8% YTD
Russell 2000 +1.0% YTD
Dow Jones Industrial Average -1.8% YTD

3:40 pm: [BRIEFING.COM]

The dollar index held its gains today, which helped weigh on commodities today
WTI crude oil, however, displayed a late-day rally, rising back above $42/barrel and as high as $42.90/barrel
Sept crude ended today's session +1.8% at $42.58/barrel
In other energy, Sept nat gas -1.1% at $2.70/MMBtu
Silver held deep losses today and remains near today's low
Gold held modest losses following in post-morning rally
Dec gold ended -0.1% at $1117.00/oz, while Sept silver finished -3.2% at $14.81/oz

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.3% with one hour remaining in the session.

The benchmark index began the trading day with a modest loss and was able to make a brief appearance in the green before sliding into the neighborhood of its morning low. The index slid below its 100-day moving average (2,098) and was able to find support just below the 50-day moving average (2,095). With one hour remaining in the session, the S&P 500 trades right in between those two levels.

All ten sectors enter the final hour of action with losses, paced by a 0.7% decline in the materials sector while the consumer discretionary space (-0.1%) tries to stay in the neighborhood of its flat line after showing a modest gain earlier today.

2:25 pm: [BRIEFING.COM] The major averages have inched up off their recent lows with the S&P 500 (-0.2%) now back in the neighborhood of its 100-day moving average (2,098). The benchmark index charged above that mark during yesterday's session, but the 100-day average has been a focal point since the start of the month.

Eight sectors remain in negative territory while telecom services (+0.1%) and consumer discretionary (+0.1%) hover just above their flat lines.

Elsewhere, Treasuries have inched back to their lows, pushing the 10-yr yield up two basis points to 2.19%.

1:55 pm: [BRIEFING.COM] Equity indices have extended their losses with the S&P 500 now down 0.4% while the Nasdaq Composite (-0.7%) continues showing relative weakness.

The tech-heavy index has been pressured by chipmakers throughout the day while biotechnology has also shown relative weakness. However, the Nasdaq outperformed yesterday, so today's loss has brought the index back in-line with the S&P 500 for the week (+0.2%).

Nine sectors trade in the red at this time, but their losses have been limited to no more than 0.8% at this time. The energy sector is the weakest performer even though crude oil trades higher by 1.4% at $42.44/bbl.

1:35 pm: [BRIEFING.COM] The major U.S. indices have taken a notable leg lower in recent trade as stocks trade just north of their intra-day lows.

A look inside the Dow Jones Industrial Average shows Wal-Mart (WMT 69.62, -2.29), Cisco (CSCO 28.33, -0.49), and Walt Disney (DIS 107.24, -1.81) are underperforming. Wal-Mart is the worst-performing Dow component after delivering a mixed Q2 report and providing downside guidance for Q3 and FY16. Shares are sitting at multi-year lows. Disney on the other-hand was downgraded to Market Perform at Wells Fargo this morning, alongside a slew of fellow media names.

Conversely, Home Depot (HD 122.55, +2.85) is the best-performing Dow component after the home improvement retailer reported strong quarterly results and raised its FY16 guidance. Shares hit new all-time highs early in today's session.

At current levels, the DJIA is still up 0.16% for the week, but down 1.05% in August.

12:55 pm: [BRIEFING.COM] The major averages hold modest midday losses with the S&P 500 (-0.2%) hovering just below its flat line while the Nasdaq Composite (-0.4%) trades a bit behind.

Equity indices have maintained narrow ranges through the first half of today's session with the S&P 500 bouncing between 2,097 and 2,104 amid relatively light volume. To that latter point, only 300 million shares have changed hands at the NYSE floor today, suggesting the final tally is likely to come in below the 50-day average of 822 million.

Eight of ten sectors display midday losses while consumer discretionary (+0.1%) and health care (+0.1%) have spent the first half in the green. The discretionary sector has benefited from strength among homebuilders after Dow component Home Depot (HD 122.66, +2.96) reported better than expected results. Meanwhile, apparel names trade in mixed fashion after a few sector components reported their earnings between yesterday's closing bell and today's open. Urban Outfitters (URBN 32.01, -0.22) is lower by 0.7% after below-consensus revenue and comparable store sales overshadowed a bottom-line beat while Dick's Sporting Goods (DKS 51.71, +1.01) and TJX (TJX 76.00, +4.40) hold respective gains of 2.0% and 6.1% after both reported bottom-line beats.

For its part, the health care sector holds a slim gain as mixed action among top sector components outweighs relative weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 370.54, -1.08) is lower by 0.3%.

Furthermore, the underperformance in biotechnology has contributed to the relative weakness in the Nasdaq. High-beta chipmakers have also weighed on the index, evidenced by a 1.8% decline in PHLX Semiconductor Index.

Elsewhere, Treasuries climbed during overnight action, likely drawing support from safe-haven flows driven by the resumption of heavy selling in China's Shanghai Composite (-6.2%). However, the 10-yr note has reversed from its overnight high, falling to lows after the release of today's economic data. The 10-yr note has returned to unchanged since then with its yield at 2.17%.

Economic data was limited to Housing Starts and Building Permits:

Housing starts in July ran at a seasonally adjusted annual rate of 1.206 million, up 0.2% from an upwardly revised 1.204 million rate (from 1.174 mln) in June
The July figure was pretty much in-line with the Briefing.com consensus estimate, which stood at 1.200 million
The upshot of this report is that the increase was powered by starts of single-family homes as they jumped 12.8% to 782,000, with increases seen in all regions
Building permits in July were at a seasonally adjusted annual rate of 1.119 million, which was 16.3% below the revised June rate of 1.337 million (from 1.343 mln) and well below the Briefing.com consensus estimate of 1.257 million
Single-family permits dipped 1.9% to 679,000

12:25 pm: [BRIEFING.COM] Equity indices remain near their recent levels as the quiet session continues. The Nasdaq (-0.4%) continues trading a bit behind the broader market as large cap tech names and high-beta chipmakers weigh.

The technology sector is lower by 0.4% with the likes of Google (GOOGL 688.01, -6.10) Qualcomm (QCOM 61.60, -0.47), and Cisco Systems (CSCO 28.24, -0.58) showing losses between 0.8% and 1.9%. Meanwhile, the PHLX Semiconductor Index has given up 1.6% with all but two of its components trading lower at this juncture.

On the upside, consumer discretionary (+0.1%) and health care (+0.1%) hold slim gains, but both sectors have backed away from their highs.
Related Quotes

11:55 am: [BRIEFING.COM] The major averages have inched back to their session lows with the Nasdaq Composite (-0.4%) remaining behind the S&P 500 (-0.2%).

The early portion of today's affair has been very quiet, evidenced by the fact only 250 million shares have changed hands at the NYSE floor so far today. The lack of participation should not be all that surprising considering late August is known for being pretty subdued.

Elsewhere, Treasuries continue holding slim losses with the 10-yr yield up one basis point at 2.18%.

11:25 am: [BRIEFING.COM] Equity indices remain near their flat lines with the S&P 500 drifting within two points of the unchanged level.

Sector standing has not changed much with three groups holding modest gains while seven sectors show losses between 0.1% (financials and industrials) and 0.4% (energy and materials).

Interestingly, the energy sector appears among the laggards even though crude oil has held up relatively well. The energy component currently trades higher by 0.7% at $42.69/bbl after hitting a session high near $42.90/bbl within the past two hours.

Elsewhere, Treasuries have erased the bulk of their losses, but the 10-yr note remains just below its flat line with the benchmark yield up one basis point at 2.18%.

10:55 am: [BRIEFING.COM] Equity indices remain in the red with the Nasdaq Composite (-0.3%) trading near its session low while the S&P 500 (-0.1%) hovers closer to its flat line.

The consumer discretionary sector (+0.3%) has climbed into the lead thanks to relative strength among homebuilders after Home Depot (HD 123.30, +3.60) reported better than expected results. Meanwhile, apparel names trade in mixed fashion after a few companies reported their earnings. Urban Outfitters (URBN 32.08, -0.15) is lower by 0.5% after below-consensus revenue and comparable store sales overshadowed a bottom-line beat while Dick's Sporting Goods (DKS 52.58, +1.88) and TJX (TJX 75.77, +4.16) hold respective gains of 3.8% and 5.8% after both reported bottom-line beats.

Elsewhere, countercyclical health care (+0.3%) and telecom services (+0.2%) also hold modest gains while the remaining seven sectors hold losses.

10:35 am: [BRIEFING.COM]

The dollar trended modestly above the flat-line overnight, before falling to unchanged ahead of the morning's US Housing data release
Upon release of the data, which showed strong Housing starts (at the highest level since October 2007) the dollar rallied sharply higher, pressing notably on precious metals
The index has since modestly pulled back from its rally, and is now trading slightly higher at +0.1% to 96.93
Both gold and silver traded near flat early, before the dollar's rally (in relation to the housing data's implication for a near-term rate hike) caused them to selloff
Hovering just above the day's lows, gold is now -0.6% to $1,112.20/oz and silver is -3.7% to $14.74/oz
WTI continued its downward trend overnight and into early AM trade, weighed on heavily by Chinese demand and global oversupply concerns
Equity declines overnight in the Shanghai index have the market focused on a potential Chinese government response, which (if further devaluation) could curb oil demand
Ahead of tomorrow's EIA crude inventory data release, the September contract has recently rallied from negatives, and is +0.4% to $42.03/barrel
Copper is being similarly pressed lower on Chinese demand concern, currently extending a steady selloff to its LoD at -2% to $2.27/lb
Natural gas is trading strongly down on calls for continued cooling of national weather, currently -1% to $2.70/MMBtu

9:55 am: [BRIEFING.COM] Equity indices have added to their early losses with the Nasdaq Composite (-0.3%) pacing the move. The index has been pressured by large cap tech names while the S&P technology sector trades lower by 0.6%.

That being said, biotechnology has shown some relative strength after outperforming yesterday. The iShares Nasdaq Biotechnology ETF (IBB 372.13, +0.51) is higher by 0.2% while the broader health care sector (+0.1%) hovers just above its flat line.

9:40 am: [BRIEFING.COM] The major averages began the trading day on a modestly lower note with the S&P 500 down 0.1%.

Eight sectors display early losses while consumer discretionary (+0.3%) and financials (+0.1%) hold slim gains. On the flip side, the utilities sector (-0.6%) is the weakest performer while energy has given up 0.5% despite an uptick in crude oil that has the energy component trading higher by 0.3% at $41.98/bbl.

Elsewhere, the consumer staples sector (-0.3%) trades not far behind the broader market even though Wal-Mart (WMT 70.01, -1.90) has surrendered 2.6% after reporting disappointing results.

Treasuries have set new lows not long ago with the 10-yr yield up three basis points at 2.20%.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -6.60. The stock market is on track for a modestly lower open as S&P 500 futures trade three points below fair value after sliding from their pre-market highs at the start of the European session. Things are relatively quiet in Europe at this time, but investor sentiment has been pressured by a resumption of selling in China that drove the Shanghai Composite lower by 6.2%. There was no clear-cut reason for the plunge, but some pointed to a better than feared Housing Starts report, which could keep the People's Bank of China from implementing additional stimulus.

Domestically, futures have bounced near their lows over the past four hours while a handful of retailers have reported their quarterly results. Most notably, Wal-Mart (WMT 69.90, -2.01) is on track to open lower by 2.8% after reporting a bottom-line miss and lowering its earnings guidance for Q3 and fiscal year 2016.

On the economic front, Housing Starts rose to a seasonally adjusted annualized rate of 1,206,000 units in July (Briefing.com consensus 1,200,000) from a revised 1,204,000 units in June while Building permits fell to a seasonally adjusted annualized rate of 1,119,000 in July from a revised 1,337,000 for June (consensus 1,257,000).

Treasuries held modest gains during overnight action, but fell to lows in reaction to today's data. The 10-yr note currently holds a slim loss with its yield up two basis points at 2.19%.

8:59 am: [BRIEFING.COM] S&P futures vs fair value: -2.40. Nasdaq futures vs fair value: -4.80. The S&P 500 futures trade two points below fair value.

Tuesday produced broad-based losses for equity markets in the Asia-Pacific region, none greater than the one seen in China's Shanghai Composite (-6.2%). The weakness there was attributed primarily to concerns about further yuan devaluation, although it stands to reason that worries about weakening end demand in the region also played a part in the selling. Separately, Thailand's market (-2.8%) was also hit hard following Monday's bomb attack, which is being investigated as a possible organized act of terrorism.

In economic data:
China's July House Prices fell 3.7% year-over-year (prior -4.9%)
Hong Kong's July Unemployment Rate ticked up to 3.3% from 3.2% (consensus 3.2%)
Australia's July New Motor Vehicle Sales -1.3% month-over-month (prior 3.9%)

------

Japan's Nikkei declined 0.3% and ended near its lows for the day. The modest loss was driven by weakness in the consumer discretionary (-0.8%) and consumer staples (-0.6%) sectors; however, relative strength in the financials (+0.4%) and industrials (+0.4%) sectors helped limit the losses. JX Holdings (-3.6%), Minebea (-3.5%), and Olympus (-3.4%) were the weakest issues. Alps Electric (+4.8%), Unitika (+4.5%), and GS Yuasa (+4.2%) led the gainers. Out of the 225 index members, 104 ended higher, 116 finished lower, and 5 were unchanged.
Hong Kong's Hang Seng declined 1.4% in a trend-down day that saw the index close pretty much on its lows for the session. The Hang Seng took its cue from mainland markets, which were decidedly weak. Lenovo Group (-5.8%), Belle International Holdings (-4.2%), and Ping An Insurance (-3.0%) were the weakest links. China Resources Power Holdings (+4.1%) was the only stock to gain in excess of 1.0%. Out of the 50 index members, 3 ended higher and 47 finished lower.
China's Shanghai Composite unraveled, falling 6.2% in a trend-down day that saw selling efforts accelerate in the afternoon session. The move came despite a report that nationwide home prices increased month-over-month for the third straight month. News outlets attributed the selloff to worries about further yuan devaluation, although concerns about weakening end demand in the region probably factored into the selling as well.

Major European indices have recovered from larger losses, but they remain in the red. With many market participants away for vacation, those who remained have been focusing on UK's latest inflation data that showed the fastest increase in core CPI since February. The pound rallied against the dollar in reaction to the data, climbing about 0.7% to 1.5695.

Participants received several data points:
UK'S July CPI -0.2% month-over-month (expected -0.3%; prior 0.0%); +0.1% year-over-year (consensus 0.0%; last 0.0%). Separately, Core CPI +1.2% year-over-year (consensus 0.8%; last 0.8%), Input PPI -0.9% month-over-month (expected -1.9%; prior -1.8%), and Output PPI -0.1% month-over-month, as expected (prior -0.1%). Also of note, House Price Index +5.7% year-over-year (consensus 5.9%; last 5.6%)

------

UK's FTSE has given up 0.5% with miners leading the move lower. Antofagasta, Anglo American, BHP Billiton, and Rio Tinto show losses between 2.1% and 3.0%. On the upside, drug maker Shire has climbed 1.7%.
France's CAC is lower by 0.3% amid weakness in growth-sensitive names. ArcelorMittal, Technip, Total, Michelin, and LVMH are down between 1.2% and 2.0%. On the upside, Veolia Environnement leads with a 2.0% gain.
Germany's DAX trades down 0.3% with exporters BMW, Daimler, and Volkswagen down between 0.5% and 1.1%. On the upside, Merck outperforms with a 1.6% gain.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -10.20. The S&P 500 futures trade five points below fair value.

Housing Starts rose to a seasonally adjusted annualized rate of 1,206,000 units in July. That was up from a revised 1,204,000 units in June (from 1,174,000). The Briefing.com consensus expected starts to increase to 1,200,000 units.

Building permits fell to a seasonally adjusted annualized rate of 1,119,000 in July from a revised 1,337,000 for June (from 1,343,000). The Briefing.com consensus expected permits to come in at 1,257,000.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -4.70. Nasdaq futures vs fair value: -11.30. U.S. equity futures trade modestly lower with S&P 500 futures hovering five points below fair value after slipping from their highs at the start of the European session.

The current pre-market loss in futures is relatively modest when compared to the 6.2% plunge in China's Shanghai Composite, which resulted in more than half of index components being halted for volatility.

Treasuries are little changed with the 10-yr yield at 2.17%.

Today will be relatively quiet on the economic front with data limited to the 8:30 ET release of July Housing Starts (Briefing.com consensus 1.200 million) and Building Permits (consensus 1.257 million).

In U.S. corporate news of note:

Cheetah Mobile (CMCM 23.55, +1.06): +4.7% in reaction to better than expected results and upbeat guidance.
Home Depot (HD 120.98, +1.28): +1.1% after beating earnings and revenue estimates.
Trina Solar (TSL 11.12, +0.94): +9.2% following its better than expected report.
Urban Outfitters (URBN 31.55, -0.68): -2.1% after below-consensus revenue and comparable store sales overshadowed a bottom-line beat.
Wal-Mart (WMT 69.62, -2.29): -3.2% in reaction to a bottom-line miss and lower earnings guidance for Q3 and fiscal year 2016.

Reviewing overnight developments:

Asian markets ended lower. China's Shanghai Composite -6.2%, Hong Kong's Hang Seng -1.4%, and Japan's Nikkei -0.3%
In economic data:
China's July House Prices fell 3.7% year-over-year (prior -4.9%)
Hong Kong's July Unemployment Rate ticked up to 3.3% from 3.2% (consensus 3.2%)
Australia's July New Motor Vehicle Sales -1.3% month-over-month (prior 3.9%)
In news:
There was no specific reason cited for the decline in China, but there was some speculation that the smaller than expected decline in House Prices could keep the People's Bank of China from introducing additional stimulus

Major European indices trade mostly lower. UK's FTSE -0.5%, France's CAC -0.3%, and Germany's DAX -0.2%. Elsewhere, Italy's MIB -0.2% and Spain's IBEX +0.1%
Participants received several data points:
UK'S July CPI -0.2% month-over-month (expected -0.3%; prior 0.0%); +0.1% year-over-year (consensus 0.0%; last 0.0%). Separately, Core CPI +1.2% year-over-year (consensus 0.8%; last 0.8%), Input PPI -0.9% month-over-month (expected -1.9%; prior -1.8%), and Output PPI -0.1% month-over-month, as expected (prior -0.1%). Also of note, House Price Index +5.7% year-over-year (consensus 5.9%; last 5.6%)
Among news of note:
With many market participants away for vacation, those who remained have focused on UK's latest inflation data that showed the fastest increase in core CPI since February. The pound rallied against the dollar in reaction to the data, climbing about 0.7% to 1.5690.

5:50 am: [BRIEFING.COM] S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -9.40.

5:50 am: [BRIEFING.COM] Nikkei...20554.47...-65.80...-0.30%. Hang Seng...23747.97...-339.70...-1.40%.

5:50 am: [BRIEFING.COM] FTSE...6511.78...-38.50...-0.60%. DAX...10922.87...-17.50...-0.20%.

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

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

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