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 1:59 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: August 20th Thursday Trade Results - Profit $9732.50
PostPosted: Thu Aug 20, 2015 5:34 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:
082015-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+9732.50.png
082015-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+9732.50.png [ 94.39 KiB | Viewed 310 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $120.00 dollars or +1.20 points, Emini ES ($ES_F) futures @ $9612.50 dollars or +192.25 points, Light Crude Oil CL ($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 @ $9732.50 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=2151

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:
082015-Key-Price-Action-Markets.png
082015-Key-Price-Action-Markets.png [ 1.03 MiB | Viewed 324 times ]

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


4:10 pm: [BRIEFING.COM] The stock market registered its third consecutive decline on Thursday with the S&P 500 (-2.1%) slashing below its 200-day moving average (2,078). The benchmark index slid to levels not seen since early February while the Nasdaq Composite (-2.8%) displayed relative weakness throughout the day.

The daylong selloff was brought on by a heightened sense of uncertainty among investors, pulling the S&P 500 into the red for 2015 (-1.1%). To be sure, some of the uncertainty (rate-hike speculation, concerns about the global economy, plunging commodity prices) had been brewing for a while, whereas today's session reminded investors about ongoing concerns related to China and Greece.

Overnight, China's Shanghai Composite tumbled 3.4% amid reports the country's official GDP target could be lowered to 6.5% from 7.0%. Sellers maintained control despite a CNY120 billion injection from the People's Bank of China into capital markets.

As for Greece, Prime Minister Alexis Tsipras resigned from his post and called for a snap election, set for September 20, just three days after the FOMC concludes its September meeting. It is worth noting that there are indications Greece's minority parties could try to form a coalition government, which would block the September 20 vote.

All ten sectors ended the day in negative territory with cyclical sectors pacing the retreat while two of four countercyclical groups (consumer staples and utilities) posted losses slimmer than 1.0% apiece. The rate-sensitive utilities sector (-0.6%) ended ahead of its peers thanks to lower Treasury yields (10-yr yield -4 bps to 2.08%). The utilities sector is the only group that will enter the Friday session with a razor-thin week-to-date gain (+0.02%) while the remaining nine groups hold weekly losses between 0.9% (telecom services) and 5.4% (energy).

The energy sector has paced this week's retreat, but the growth-sensitive group finished today's session just behind the broader market after showing some relative strength in the early going. That brief strength coincided with an intraday gain in crude oil, but the energy component retreated during the afternoon to end the pit session little changed at $41.26/bbl.

Elsewhere among cyclical sectors, heavily-weighted consumer discretionary (-2.8%) and technology (-2.5%) underperformed throughout the day, which prevented the market from stringing together a rebound, considering the two groups represent more than 30% of the entire market.

The top-weighted technology sector suffered from broad weakness with large cap names like Apple (AAPL 112.65, -2.36), Google (GOOGL 679.48, -14.56), Facebook (FB 90.56, -4.75), and Microsoft (MSFT 45.75, -0.86) losing between 1.9% and 5.0%. High-beta chipmakers also registered sharp losses with the PHLX Semiconductor Index diving 3.8% with all 30 components ending in the red.

Today's selloff invited above-average participation with more than 900 million shares changing hands at the NYSE floor.

Economic data included Initial Claims, Existing Home Sales, Leading Indicators, and Philadelphia Fed Survey:

Initial claims for the week ending August 15 were 277,000, up from the prior week's downwardly revised level of 273,000 (from 274,000) while the Briefing.com consensus estimate expected a reading of 272,000
The four-week moving average for claims increased by 5,500 to 271,500, but remains near multi-decade lows
Existing Home Sales for July increased 2.0% from June to an annualized rate of 5.59 million units while the Briefing.com consensus expected a reading of 5.42 million
Sales in July were at their highest level since February 2007 and were up 10.3% from the year-ago period, which marked the tenth consecutive month in which existing home sales increased year-over-year
The Leading Indicators report for July was down 0.2% while the Briefing.com consensus expected an increase of 0.2%
The Philadelphia Fed Survey for August rose to 8.3 from 5.7 while economists polled by Briefing.com had expected an improvement to 7.0

There is no economic data on tomorrow's schedule.

Nasdaq Composite +3.0% YTD
S&P 500 -1.1% YTD
Russell 2000 -2.6% YTD
Dow Jones Industrial Average -4.7% YTD

3:35 pm: [BRIEFING.COM]

The dollar index remained in the red today, which helped give commodities a boost
In electronic trade, metals such as gold, silver and copper are all holding gains
Dec gold closed pit trading today +2.2% at $1153.30/oz, while Sept silver +2.1% at $15.52/oz
Sept copper gained 1.8% to $2.32/lb, but is up +2.0% here in electronic trade
WTI crude oil sold off heading into the close of floor trading, finishing the day $0.01 higher at $41.26/barrel
Sept nat gas rose +1.5% to $2.75/MMBtu

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 1.7% with one hour remaining in the session.

Today's session has been a unidirectional affair with any and all bounce attempts facing swift retracements. The benchmark index gapped below its 200-day moving average (2,078) at the start and has marched lower throughout the day. As a result, the index enters the last hour of today's session trading at levels last seen in early March.

The continued selling has dragged the utilities sector (-0.2%) into the red after the rate-sensitive group spent the first half of the day in positive territory.

2:25 pm:

[BRIEFING.COM] Afternoon action continues with the Nasdaq Composite (-2.2%) remaining behind the S&P 500 (-1.4%).

The tech-heavy Nasdaq has suffered from broad-based losses in the technology sector while biotechnology has also contributed to the relative weakness. To that point, the iShares Nasdaq Biotechnology ETF (IBB 356.46, -9.21) is lower by 2.5% while the broader health care sector trades down 1.5%. Including today's decline, the biotech ETF is now down 6.8% in August while the health care sector has surrendered 2.6% since the end of July.

On the upside, the utilities sector (+0.1%) continues hanging onto a slim gain.

2:00 pm:

[BRIEFING.COM] The major averages continue holding the bulk of their losses with the S&P 500 (-1.2%) hovering about eight points above its session low.

Cyclical sectors continue showing relative weakness as four of six growth-sensitive groups trail the broader market while the other two sectors trade a bit ahead. Most notably, the consumer discretionary sector (-2.0%) remains near its low while technology (-1.8%) has inched up off its worst level of the day. Together, those two sectors deserve close attention going into the home stretch considering they hold enough sway to lift the broader market off its low. Conversely, renewed selling among the two laggards would likely pull the entire market lower.

Elsewhere, Treasuries remain near their afternoon levels after notching fresh highs within the past hour. The 10-yr yield is lower by three basis points at 2.09%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have bounced slightly since our last update, but still remain under heavy pressure as this time.

A look inside the Dow Jones Industrial Average shows that Walt Disney (DIS 101.08, -5.37), Merck & Co (MRK 57.61, -2.05), and Boeing (BA 137.99, -4.73) are underperforming. Disney shares are at six-month lows after being downgraded to Market Perform at Bernstein while Merck is down on competitive concerns following positive results from an Eli Lilly (LLY 87.87, +4.10) study ?from one of its candidates for type 2 diabetes that met its primary endpoint and demonstrated superiority in cardiovascular risk reductions.

Conversely, Procter & Gamble (PG 74.59, +0.47) is the best-performing Dow component as consumer staples hold up considerably well despite widespread broad market weakness. Consumer Staples the second best performing sector on the day.

With today's decline, the DJIA is now down 3.25% in August, and 4% in 2015

In other developments, the $16 bln 5-year TIPS auction drew a high yield of 0.305% on a bid-to-cover of 2.58

12:55 pm:
Related Quotes

[BRIEFING.COM] The major averages trade lower across the board at midday with the Nasdaq Composite (-2.1%) trailing the Dow Jones Industrial Average (-1.5%) and S&P 500 (-1.5%).

Equity indices have spent the first half of the Thursday session in negative territory, which puts the market on track for the third day of losses. The S&P 500 dove below its 200-day moving average (2,078) at the start after the overnight session was highlighted by a 3.4% slide in China's Shanghai Composite amid reports the country's official GDP target could be lowered to 6.5% from 7.0%. Sellers maintained control despite easing measures that included a CNY120 billion injection from the People's Bank of China into capital markets.

The ongoing China-related jitters contributed to weakness in European indices while Greece has snuck back into headlines after Prime Minister Alexis Tsipras called for a snap election, which is likely to take place on September 20, three days after the conclusion of a two-day FOMC meeting.

Nine of ten sectors display midday losses while the utilities space (+0.2%) has benefited from strength in the Treasury market that has sent the benchmark 10-yr yield lower by four basis points to 2.09%.

On the downside, six sectors hold losses of 1.0% or more with five of the six coming from the cyclical side. Top-weighted technology (-2.1%) and consumer discretionary (-2.0%) sectors trade well behind the broader market, which has resulted in the S&P 500 meandering near the bottom of the day's range.

The technology sector has suffered from broad-based weakness that includes a 2.3% decline in Apple (AAPL 112.37, -2.65) and a 2.2% drop in the shares of Google (GOOGL 678.81, -15.23). High-beta chipmakers have not fared much better with the PHLX Semiconductor Index trading lower by 2.5%.

Elsewhere, the energy sector (-0.8%) trades a bit ahead of the broader market amid a slight rebound in crude oil (+0.1% at $41.32/bbl), but the energy sector is still down 4.0% for the week, which puts the group behind the other nine sectors.

Economic data included Initial Claims, Existing Home Sales, Leading Indicators, and Philadelphia Fed Survey:

Initial claims for the week ending August 15 were 277,000, up from the prior week's downwardly revised level of 273,000 (from 274,000) while the Briefing.com consensus estimate expected a reading of 272,000
The four-week moving average for claims increased by 5,500 to 271,500, but remains near multi-decade lows
Existing Home Sales for July increased 2.0% from June to an annualized rate of 5.59 million units while the Briefing.com consensus expected a reading of 5.42 million
Sales in July were at their highest level since February 2007 and were up 10.3% from the year-ago period, which marked the tenth consecutive month in which existing home sales increased year-over-year
The Leading Indicators report for July was down 0.2% while the Briefing.com consensus expected an increase of 0.2%
The Philadelphia Fed Survey for August rose to 8.3 from 5.7 while economists polled by Briefing.com had expected an improvement to 7.0

12:30 pm:

[BRIEFING.COM] The major averages remain near their session lows with dip-buyers reluctant to step into the fold. The S&P 500 trades lower by 1.3%, extending this week's loss to 1.?9%.

The consumer discretionary sector (-1.9%) outperformed yesterday, but today, the cyclical group is essentially tied with technology (-1.9%) for the last spot on the sector leaderboard. The discretionary sector has suffered from broad-based weakness, including a 1.4% decline in SPDR S&P Retail ETF (XRT 95.13, -1.35) while homebuilders also trail the broader market with the iShares Dow Jones US Home Construction ETF (ITB 29.30, -0..44) trading lower by 1.5%.

Elsewhere, Treasuries have held their ground through the past hour or so with the 10-yr yield down three basis points at 2.09%.

11:55 am:

[BRIEFING.COM] Not much change in the market with the key indices drifting near their lows. The S&P 500 trades lower by 1.1% after a couple small bounce attempts have been met with renewed selling. As a result, the index hovers roughly five points above its session low.

Broadly speaking, cyclical sectors are responsible for the bulk of today's retreat as five of six growth-sensitive groups show losses between 0.8% (materials) and 1.8% (consumer discretionary and technology) while the energy sector (-0.3%) outperforms slightly.

Over on the countercyclical side, health care (-1.1%) trades just ahead of the broader market while consumer staples (-0.2%), telecom services (-0.5%), and utilities (+0.3%) outperform. Including today's gain, the utilities sector is now up 4.2% for the month while the remaining nine groups have retreated since the end of July.

11:30 am:

[BRIEFING.COM] The major averages remain near their session lows with the Nasdaq Composite (-1.6%) trading behind the S&P 500 (-1.1%). Given their current levels, the Nasdaq has narrowed its 2015 gain to 4.3% while the S&P 500 is now negative for the year (-0.1%).

Seven of ten sectors display year-to-date losses ranging from 0.2% (technology) to 16.7% (energy) while three sectors remain in positive territory for the year. The health care sector remains higher by 9.2% for the year with biotechnology largely responsible for the strength while the two consumer sectors also sport 2015 gains. The consumer staples sector has added 1.3% so far this year while the discretionary sector has climbed 7.4% since the end of 2014.

Elsewhere, the 10-yr note continues holding a solid gain with its yield down three basis points at 2.10%, which represents little change for the year considering the benchmark yield ended 2014 at 2.17%.

10:55 am:

[BRIEFING.COM] Equity indices have added to their opening losses with the Nasdaq Composite (-1.4%) leading the market lower. Meanwhile, the S&P technology sector (-1.5%) traded near the broader market in early action, but the top-weighted group has shown noteworthy weakness over the past hour or so.

The weakness in the tech sector is widespread with Apple (AAPL 112.65, -2.36) down 2.1% while other large cap names hold slimmer losses. As for high-beta chipmakers, the PHLX Semiconductor Index has surrendered 1.6% amid losses in 28 of its 30 components. SunEdison (SUNE 12.76, -0.71) and Micron (MU 15.08, -0.83) are both down near 5.0% while ARM Holdings (ARMH 42.31, +0.12) has shown relative strength, trading higher by 0.3%.

Similar to technology, eight other sectors display losses while the utilities space (+0.3%) has benefited from lower yields.

10:35 am: [BRIEFING.COM]

The dollar index traded up overnight, before falling to below the flat-line in early trade as the index extended yesterday's FOMC minute momentum
The FOMC minutes released yesterday, were widely interpreted as casting doubt toward a September rate hike which put heavy pressure on the dollar
An additional driver of price action in the dollar this morning included increased US Initial Unemployment Claim data, which has the index now -0.5% to 95.93
Precious metals are trading off of movements in the dollar, and have extended gains on its early morning weakness.
Gold is currently reaching higher at +2% to $1150.1/oz and silver is at +2.3% to $15.52/oz
Crude continued its downward trend overnight, following yesterday's surprise build in inventory (+2.62 mln barrels vs. a -1.30 mln barrel consensus)
Exacerbated by negative overnight weakness in Asian equity markets, Crude briefly touched near $40.6/barrel in early trade, before modestly rallying to recover partial losses
The October WTI contract is now moderately lower at -0.7% to $41.00/barrel
Natural gas trended near flat early this morning, before seeing a modest rally to positive ahead of the morning's EIA inventory data release (expecting a build of about 59 bcf)
Upon release of the data, Natural gas spiked higher, and is now +1.5% to $2.75/MMBtu
Copper is also higher on a weakened dollar, now just below its HoD at +1.6% to $2.31/lb

10:00 am:

[BRIEFING.COM] The S&P 500 trades lower by 0.9%.

Just released, the Leading Indicators report for July was down 0.2% while the Briefing.com consensus expected an increase of 0.2%.

Separately, Existing Home Sales for July increased 2.0% from June to an annualized rate of 5.59 million units while the Briefing.com consensus expected a reading of 5.42 million.

Also of note, the Philadelphia Fed Survey for August rose to 8.3 from 5.7 while economists polled by Briefing.com had expected an improvement to 7.0.

9:45 am:

[BRIEFING.COM] As expected, the major averages began the trading day under pressure with the S&P 500 (-0.6%) diving below its 200-day moving average (2,078) to last week's levels.

Nine sectors display early losses while the energy sector (+0.1%) hovers just above its flat line, which is also the case with crude oil. The energy component trades up 0.3% at $41.40/bbl.

Elsewhere, heavily-weighted financials (-1.1%), consumer discretionary (-0.9%), and industrials (-0.8%) trade behind the broader market while the top-weighted technology sector (-0.7%) trades right behind the S&P 500.

Treasuries continue holding modest gains with the 10-yr yield down two basis points at 2.11%.

July Existing Home Sales (consensus 5.42 million), July Leading Indicators (expected 0.2%), and the Philadelphia Fed survey for August (consensus 0.2%) will all be released at 10:00 ET.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: -15.10. Nasdaq futures vs fair value: -32.10.

The stock market is on track for a lower open as S&P 500 futures trade 15 points below fair value after retreating steadily through the first half of the night.

Once again, the overnight session featured more volatility in China with the Shanghai Composite falling 3.4% amid reports the country's official GDP target could be lowered to 6.5% from 7.0%. Sellers maintained control despite easing measures from the People's Bank of China that included a CNY120 billion injection into the financial markets.

Meanwhile, equity indices across Europe trade broadly lower with Italy's MIB (-1.2%) pacing the region-wide retreat. The European Stability Mechanism has approved the first tranche of bailout funds for Greece, but there are reports that Prime Minister Alexis Tsipras may call for snap elections later today.

Domestically, investors have received the latest weekly Initial Claims count (277,000; Briefing.com consensus 272,000), but more data remains on the schedule with July Existing Home Sales (consensus 5.42 million), July Leading Indicators (expected 0.2%), and the Philadelphia Fed survey for August (consensus 0.2%) all scheduled be released at 10:00 ET.

On the corporate front, Micron (MU 15.42, -0.48) is on course to open lower by 3.0% after Robert Baird downgraded the stock to 'Neutral' from 'Outperform.' Elsewhere, Valeant Pharmaceuticals (VRX 244.95, +0.04) is tracking a flat start after agreeing to acquire privately-held Sprout Pharmaceuticals for approximately $1 billion in cash.

9:00 am: [BRIEFING.COM] S&P futures vs fair value: -15.00. Nasdaq futures vs fair value: -32.60.

The S&P 500 futures trade 15 points below fair value.

It was a sea of red across equity markets in the Asia-Pacific region. There wasn't any specific news catalyst to account for the broad-based weakness, which had the markings of being rooted in concerns about the economic growth outlook. China's Shanghai Composite declined 3.4% with most of that loss happening in the final two hours of its session. The quickened pace of selling at the end of the day there weighed on investor sentiment elsewhere.

In economic data:
Japan's August Reuters Tankan Index rose to 17 from 14
Hong Kong's July CPI +2.5% year-over-year (expected 2.9%; prior 3.1%)

------

Japan's Nikkei declined 0.9% and ended at its low for the day following a persistent selloff in the latter half of its trading session. Losses were led by the financials (-2.1%), consumer staples (-1.7%), and industrials (-1.4%) sectors. Shiseido (-5.7%), Sompo Japan Nipponkoa Holdings (-4.8%), and Denso (-4.7%) were the worst performers while Unitika (+2.8%), Softbank Group (+2.2%), and Tokyo Tatemono (+2.0%) were the best performers. Out of the 225 index members, 35 ended higher, 185 finished lower, and 5 were unchanged.
Hong Kong's Hang Seng declined 1.8%, tracking the mainland market lower and trailing on investor concerns about an economic slowdown in the region. Selling interest was broad based. Kunlun Energy (-6.1%), Galaxy Entertainment (-6.1%), and Tingyi Cayman Islands Holding Corp (-4.3%) were the biggest laggards. China Unicom Hong Kong (+1.6%) was the only stock to gain more than 1.0%. Out of the 50 index members, 3 ended higher and 47 finished lower.
China's Shanghai Composite dropped 3.4% with the bulk of its loss being logged in the final two hours of trading. There was no specific news catalyst for the late selloff, which invited concerns about forced selling to meet margin calls and panic selling by investors unnerved by the market's volatility and signs of slowing growth. The CSI 300 Index declined 3.2%.

Major European indices trade lower across the board with Italy's MIB (-1.3%) showing the largest decline. On a separate note, the third Greek bailout remains on track as the European Stability Mechanism board approved the first tranche of funds for the country. Furthermore, Greece has reportedly made a EUR3.40 billion payment to the European Central Bank that was due today.

Participants received several data points:
UK's July Retail Sales +0.1% month-over-month (expected 0.4%; prior -0.1%); +4.2% year-over-year (consensus 4.4%; last 4.2%). Also of note, Core Retail Sales +0.4% month-over-month, as expected (prior -0.3%); +4.3% year-over-year, as expected (last 4.1%). Lastly, August CBI Industrial Trends Orders improved to -1 from -10 (expected -10)
Germany's July PPI 0.0% month-over-month (consensus -0.1%; prior -0.1%); -1.3% year-over-year (expected -1.4%; last -1.4%)
Swiss July trade surplus expanded to EUR3.74 billion from EUR3.51 billion (expected surplus of EUR2.60 billion)

------

UK's FTSE is lower by 0.3% with consumer names among the laggards. British American Tobacco, Taylor Wimpey, and InterContinental Hotels are down between 2.0% and 2.3%. On the upside, miners outperform with Anglo American, Antofagasta, Fresnillo, Glencore, and Randgold Resources up between 2.6% and 5.4%.
Germany's DAX trades down 0.5% with all but four components in the red. Continental is the weakest performer, down 2.5%, while financials Commerzbank and Deutsche Bank trade with respective losses of 1.9% and 1.5%.
In France, the CAC has given up 1.0% amid broad weakness. Consumer names have paced the retreat with Accor, L'Oreal, and LVMH down between 1.7% and 2.6%. On the upside, steelmaker ArcelorMittal has climbed 0.5%.
Italy's MIB is down 1.3% with BMPS, Mediobanca, Intesa Sanpaolo, and UBI Banca showing losses between 1.2% and 2.4%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -16.70. Nasdaq futures vs fair value: -34.30.

The S&P 500 futures trade 17 points below fair value.

The latest weekly initial jobless claims count totaled 277,000 while the Briefing.com consensus expected a reading of 272,000. Today's tally was above the revised prior week count of 273,000 (from 274,000). As for continuing claims, they fell to 2.254 million from 2.278 million.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: -16.00. Nasdaq futures vs fair value: -34.60.

U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures hover 16 points below fair value after hitting pre-market lows within the past three hours.

Once again, the overnight session featured more volatility in China with the Shanghai Composite falling 3.4% amid reports the country's official GDP target could be lowered to 6.5% from 7.0%.

The weakness in global equity markets has been met by strength in U.S. Treasuries with the 10-yr yield down three basis points at 2.10%.

On the economic front, weekly Initial Claims (Briefing.com consensus 272,000) will be reported at 8:30 ET while July Existing Home Sales (consensus 5.42 million), July Leading Indicators (expected 0.2%), and the Philadelphia Fed survey for August (consensus 0.2%) will all be released at 10:00 ET.

In U.S. corporate news of note:

JinkoSolar (JKS 21.80, +0.38): +1.8% in reaction to better than expected earnings and revenue.
Micron (MU 15.50, -0.40): -2.5% after Robert Baird downgraded the stock to 'Neutral' from 'Outperform.'
NetApp (NTAP 32.37, +2.59): +8.7% after beating bottom-line estimates and guiding higher.
Perry Ellis (PERY 25.00, +1.52): +6.5% after beating earnings estimates and raising its fiscal year 2016 earnings guidance.
Valeant Pharmaceuticals (VRX 246.00, +1.09): +0.5% after agreeing to acquire privately-held Sprout Pharmaceuticals for approximately $1 billion in cash.

Reviewing overnight developments:

Asian markets ended mostly lower. China's Shanghai Composite -3.4%, Hong Kong's Hang Seng -1.8%, and Japan's Nikkei -0.9%
In economic data:
Japan's August Reuters Tankan Index rose to 17 from 14
Hong Kong's July CPI +2.5% year-over-year (expected 2.9%; prior 3.1%)
In news:
China's Shanghai Composite faced continued pressure despite easing measures from the People's Bank of China that included a CNY120 billion injection into the financial markets

Major European indices trade lower across the board. UK's FTSE -0.4%, Germany's DAX -0.9%, and France's CAC -1.1%. Elsewhere, Italy's MIB -1.5% and Spain's IBEX -1.0%
Participants received several data points:
UK's July Retail Sales +0.1% month-over-month (expected 0.4%; prior -0.1%); +4.2% year-over-year (consensus 4.4%; last 4.2%). Also of note, Core Retail Sales +0.4% month-over-month, as expected (prior -0.3%); +4.3% year-over-year, as expected (last 4.1%). Lastly, August CBI Industrial Trends Orders improved to -1 from -10 (expected -10)
Germany's July PPI 0.0% month-over-month (consensus -0.1%; prior -0.1%); -1.3% year-over-year (expected -1.4%; last -1.4%)
Swiss July trade surplus expanded to EUR3.74 billion from EUR3.51 billion (expected surplus of EUR2.60 billion)
Among news of note:
The third Greek bailout remains on track as the European Stability Mechanism board approved the first tranche of funds for the country. Also of note, Greece has reportedly made a EUR3.40 billion payment to the European Central Bank that was due today

5:52 am: [BRIEFING.COM] Nikkei...20033.52...-189.10...-0.90%. Hang Seng...22757.47...-410.40...-1.80%.

5:52 am: [BRIEFING.COM] FTSE...6373.17...-30.30...-0.50%. DAX...10573.27...-109.00...-1.00%.

5:50 am: [BRIEFING.COM] S&P futures vs fair value: -14. Nasdaq futures vs fair value: -38.

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 1 guest


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