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 Post subject: August 27th Thursday Trade Results - Profit $4812.50
PostPosted: Fri Aug 28, 2015 5:05 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $4812.50 dollars or +96.25 points, Light Crude Oil CL ($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 @ $4812.50 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=2156

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=269&t=2840 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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


4:10 pm: [BRIEFING.COM] The stock market registered its second consecutive advance on Thursday with the S&P 500 jumping 2.4% while the Nasdaq Composite (+2.5%) outperformed slightly. The market endured a late afternoon swoon, but was able to return to its high by the close.

Equities began the trading day on an upbeat note after the overnight session featured a rally across major global equity markets. China's Shanghai Composite took part in that move, soaring 5.3%, but the spike was reportedly aided by an intervention from the People's Bank of China.

Once the U.S. session got going, stocks followed the lead from Asia, rallying across the board with the energy sector pacing the advance. The growth-sensitive sector surged 5.0% while crude oil settled on its high, spiking 10.3% to $42.53/bbl., which represented the largest gain since 2009.

Similar to energy, the remaining nine sectors posted solid gains. Meanwhile, the S&P 500 surrendered 30 points in just an hour but reclaimed all 30 of those points during the next 30 minutes or so, highlighting the elevated volatility that has been in place as of late. To that point, at their Monday lows hit soon after the open, the Dow, Nasdaq, and S&P 500 were down 6.6%, 8.8%, and 5.3%, respectively. At their highs today, they were up 8.4%, 12.3%, and 6.6% from those lows, respectively.

Generally speaking, the indices have pivoted from being oversold on a short-term basis to being overbought on a short-term basis. The speed at which the sell-off and the rebound occurred has left everyone grappling to explain why it happened, what it means, and what comes next. No explanation is wholly sufficient and often matches the character of the market at the time it is provided.

While there might be reason to feel better about the market after the recent rebound, all this week's action truly succeeded in doing was damage retail investor psychology further and increase the level of uncertainty that was already in the market and had kept the S&P 500 range-bound.

On the corporate front, Avago Technologies (AVGO 126.26, +10.06) surged 8.7% after beating bottom-line estimates while the broader PHLX Semiconductor Index jumped 3.7%. For its part, the technology sector rallied 2.3%, settling not far behind the broader market.

Treasuries held gains during overnight action, but they slumped in the morning, hitting their lows right around 9:30 ET. After spending the morning in the red, the 10-yr note rallied off its low as stocks slid from highs. The benchmark note slipped from its afternoon high just ahead of the close, ending little changed with its yield at 2.18%.

Once again, participation was above average amid the heightened volatility with more than 1.2 billion shares changing hands at the NYSE floor.

Economic data included Initial Claims, Q2 GDP, and Pending Home Sales:

Initial jobless claims for the week ending August 22 declined by 6,000 to 271,000 while the Briefing.com consensus expected a reading of 275,000.
The prior week was left unrevised and there were no special factors affecting the latest claims report
The four-week moving average bumped up by 1,000 to 272,500
As expected, the second estimate for Q2 GDP produced an upward revision, but the surprise is that it was larger than expected
Q2 GDP was revised up to an annual growth rate of 3.7% from the advance estimate of 2.3% while the Briefing.com consensus estimate was looking for a jump to 3.1%
The drivers of the upward revision were personal consumption expenditures, nonresidential fixed investment, and private inventories
Pending home sales for July rose 0.5% while the Briefing.com consensus expected an increase of 1.0%

Tomorrow, July Personal Income (Briefing.com consensus 0.4%), Spending (expected 0.4%), and core PCE Prices (expected 0.1%) will be reported at 8:30 ET while the final reading of the Michigan Sentiment index for August (expected 93.0) will cross the wires at 10:00 ET.

3:35 pm: [BRIEFING.COM]

Oil is the big story again. Both WTI crude brent crude oil have rallied as much as +10% today.
Front-month WTI crude oil ended today's floor session +9.8% at $42.47/barrel, while in other energy, Sept nat gas fell +0.03% to $2.66/MMBtu.
Sept copper put in a nice rally today, rising +3.6% to $2.33/lb, while Dec gold fell -0.2% to $1112.50/oz. Sept silver +2.6 to $14.41/oz.
The dollar index continued to climb higher today, which helped weigh on commodities, which are currently sitting at a 16-year low, according to the Bloomberg Commodity Index.

2:55 pm:

[BRIEFING.COM] The major averages have seen some more slippage since our recent update with the S&P 500 (+1.4%) now testing levels from about 10:45 ET.

Given its current level, the S&P 500 is now more than 20 points away from its session high and the recent move has likely reminded investors about the Tuesday affair when the S&P 500 was up 1.5% at the start of the final hour before tumbling to end the day lower by 1.4%.

All ten sectors remain in the green, but they also trade below their session highs. The energy sector (+3.3%) remains in the lead after crude oil ended the day with a 10.3% spike at $42.53/bbl.

2:25 pm:

[BRIEFING.COM] Equity indices have extended their pullback from session highs with the S&P 500 (+1.9%) now trading about 20 points below its best level of the day.

Interestingly, stocks have backed away from their highs even though crude oil has notched a fresh high just ahead of the pit close. The energy component rallied alongside the S&P 500 through the bulk of today's session, but the two have disconnected in recent going as crude jumped to a new high while the S&P 500 has backed away from its high. The energy component is currently higher by 10.0% at $42.49/bbl.

Elsewhere, Treasuries have returned into the green after showing a modest loss earlier. The 10-yr yield is lower by a basis point at 2.17%.

1:55 pm:

[BRIEFING.COM] After rallying through the first four hours of action, the S&P 500 (+2.2%) has inched away from its session high. That being said, the benchmark index trades just six points below its best level of the day with all ten sectors remaining in the green.

Similar to stocks, crude oil has also paused near its session high after spiking 9.0% into the $42.00/bbl area. Meanwhile, the energy sector remains higher by 4.6%.

Elsewhere, the Dollar Index (95.81, +0.71) has narrowed its gain to 0.7% after returning to last week's levels.

1:30 pm:

[BRIEFING.COM] The main U.S. indices are unchanged since our last update, resting just under today's session highs.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 77.89, +4.80), General Electric (GE 24.95, +0.94), and Pfizer (PFE 33.54, +1.11) are outperforming. Chevron shares are notably higher alongside peers in the energy space as WTI crude oil futures surge 9%.

Conversely, Procter & Gamble (PG 71.32, +0.42) is the worst-performing Dow component as consumer staples slightly underperform the broader market rally.
Related Quotes

Extending yesterday's gains, the DJIA is now up 1.05% this week, but still down 6% in August

12:55 pm:

[BRIEFING.COM] The major averages hold broad-based gains at midday with the S&P 500 up 2.4% while the Nasdaq Composite (+2.5%) outperforms. Thanks to today's advance, the S&P 500 is now up 0.7% for the week while the Nasdaq has climbed 2.2% since Friday.

Equity indices have continued their rebound from yesterday after the overnight session featured a rally across major global equity markets. China's Shanghai Composite took part in that move, surging 5.3%, but the spike was reportedly aided by an intervention from the People's Bank of China.

Once the U.S. session got going, stocks rallied across the board with the energy sector (+4.8%) pacing the advance. The growth-sensitive sector remains in the lead thanks to a 9.0% surge in crude oil, which has rocketed to $42.08/bbl.

Elsewhere among cyclical sectors, consumer discretionary (+2.4%) and financials (+2.3%) outperform while the top-weighted technology sector (+2.2%) trades right behind the broader market. Despite its slight underperformance today, the tech sector is up 2.6% for the week, which puts the group well ahead of its peers. High-beta chipmakers represent a pocket of significant strength as the PHLX Semiconductor Index trades higher by 3.6% with all 30 components trading in the green. Avago Technologies (AVGO 126.39, +10.19) is a standout performer, up 8.8%, after beating bottom-line estimates.

At this juncture, seven of ten sectors sport gains of 2.0% or more while the utilities space (+0.8%) trades at the bottom of the leaderboard. The rate-sensitive group has struggled to keep pace with the market as higher yields reduce the relative attractiveness of utility stocks versus Treasuries. Despite today's gain, the rate-sensitive sector remains lower by 4.4% for the week.

Treasuries hover near their morning lows with the 10-yr yield up two basis points at 2.20%.

Economic data included Initial Claims, Q2 GDP, and Pending Home Sales:

Initial jobless claims for the week ending August 22 declined by 6,000 to 271,000 while the Briefing.com consensus expected a reading of 275,000.
The prior week was left unrevised and there were no special factors affecting the latest claims report
The four-week moving average bumped up by 1,000 to 272,500
As expected, the second estimate for Q2 GDP produced an upward revision, but the surprise is that it was larger than expected
Q2 GDP was revised up to an annual growth rate of 3.7% from the advance estimate of 2.3% while the Briefing.com consensus estimate was looking for a jump to 3.1%
The drivers of the upward revision were personal consumption expenditures, nonresidential fixed investment, and private inventories
Pending home sales for July rose 0.5% while the Briefing.com consensus expected an increase of 1.0%

12:25 pm:

[BRIEFING.COM] The key indices have inched up to new highs as part of a move that also saw crude oil and the Dollar Index set new highs for the day. The S&P 500 trades up 2.1% at this time.

As for crude, the energy component is now up 8.6% at $41.94/bbl after briefly poking above $42.30/bbl. The relentless rally has lifted oil back to last week's levels while the energy sector (+4.2%) remains in the lead.

Elsewhere, the Dollar Index (95.95, +0.85) is higher by 0.9% as the greenback sees significant strength against the euro (+1.1%) while also showing a solid gain against the yen (+1.0%).

12:00 pm:

[BRIEFING.COM] The major averages continue cruising near their session highs with the S&P 500 up 1.9%.

Thanks to today's bounce, the benchmark index is now up 0.4% for the week while the Nasdaq (+1.9%) holds a week-to-date gain of 1.8%. To be sure, Tuesday's session showed that even large gains can fade quickly given the recent volatility in global equity markets.

Interestingly, today's session high in the S&P 500 (1980.71) was notched essentially right in the middle of the trading range that has been in effect since last Wednesday when the S&P 500 fell below its 50-day moving average (2,095). At this point, it will take some conviction from the bulls in order to power through these levels and deter sellers who may be lurking in this area.

11:25 am:

[BRIEFING.COM] Equity indices remain near their recently-established highs as strength in crude oil futures (+7.4% at $41.47/bbl) continues underpinning the energy sector (+4.3%), which trades well ahead of the S&P 500 (+1.9%).

Elsewhere, the top-weighted technology sector (+1.8%) trades a bit behind the broader market, but the top-weighted group is now on course to end the week in the lead as it sits on a 2.3% week-to-date gain. Meanwhile, high-beta chipmakers have shown relative strength with the PHLX Semiconductor Index trading higher by 2.8%. All 30 index components trade in the green with Avago Technologies (AVGO 124.17, +7.97) up 6.9% after beating bottom-line estimates.

10:55 am:

[BRIEFING.COM] The major averages have extended to new highs after spending the first 90 minutes of the session in narrow ranges near their opening levels. The S&P 500 trades higher by 1.7%, which makes the index higher by 0.2% for the week.

The energy sector (+4.3%) has held the lead since the opening bell and the growth-sensitive group has added to its gain with crude oil contributing to the move. The energy component is now up 6.1% at $40.96/bbl. Meanwhile, the other commodity-related sector-materials (+2.8%)-sits in second place while the remaining eight groups sport gains between 0.5% (utilities) and 1.9% (consumer discretionary).

Elsewhere, Treasuries have returned to their flat lines with the 10-yr yield back to unchanged at 2.18%.

10:35 am: [BRIEFING.COM]

The dollar traded flat overnight, held largely in-check by economic commentary from NY Fed Pres. William Dudley.
Dudley's commentary indicated that September rate hike was currently "less compelling" due to recent global market votatility
The index did see a gradual rally in early trade (to moderately positive) however, ahead of the release of US unemployment and GDP data
Upon release of relatively in-line unemployment data and stronger-than-expected GDP, the dollar spiked higher and is now holding gains at +0.7% to 95.74
Gold has seen notable weakness on the strengthening dollar and positive global equity performances so far this session, falling precipitously from overnight positives.
Silver however is seeming to trade independent of the dollar however, diverging away from the downward trend in gold, to hold moderate positives.
December gold is now -0.4% to $1120.60/oz while September silver is +1.5% to $14.25/oz
WTI trended strongly higher overnight on a variety of catalysts; most notably, an EIA inventory report that showed a strong draw of 5.45 mln barrels (vs. a 1 mln build est.)
Positive global equity momentum also gave momentum to oil, overwhelming the strong dollar headwind. Crude is now +5% to $40.55/barrel
Natural gas modestly sold-off from near flat, ahead of the morning's EIA inventory data which was expected to show a build of 61 bcf
Upon release of the data, Nat gas dropped sharply and is now trading negative 1.3% to $2.67/MMBtu
Copper now trades +3.2% to $2.32/lb

10:00 am:

[BRIEFING.COM] The S&P 500 remains higher by 1.1%.

Just reported, pending home sales for July rose 0.5% while the Briefing.com consensus expected an increase of 1.0%.

9:35 am:

[BRIEFING.COM] As expected, the major averages jumped out of the gate. The Nasdaq Composite (+1.4%) holds the lead while the S&P 500 (+1.3%) follows right behind with all ten sectors showing early gains.

The energy sector (+2.3%) trades ahead of other groups, thanks to a 3.5% spike in crude oil, which has spiked to $39.99/bbl. Elsewhere among influential groups, technology (+1.2%) and health care (+1.2%) trade in-line with the broader market while industrials (+1.0%) and financials (+1.1%) follow a bit behind.

The July Pending Home Sales report will be released at 10:00 ET (Briefing.com consensus 1.0%).

Treasuries remain near their lows with the 10-yr yield up two basis points at 2.20%.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: +25.80. Nasdaq futures vs fair value: +55.60.

The stock market is on track for a higher start as S&P 500 futures trade 26 points above fair value after climbing off their lows just before the start of European trade. Futures on the benchmark index hit their highs just after 5:00 ET and they remain within a few points of that mark.

Overnight, markets across Asia posted gains with China's Shanghai Composite soaring 5.3% with the entire move taking place during the final hour amid reports the People's Bank of China was active in the market once again.

Domestically, investors have received the latest weekly Initial Claims report (271,000; Briefing.com consensus 275,000) and the second estimate of Q2 GDP (+3.7%; consensus 3.1%). Both data points were better than expected and their release was met with selling in the Treasury market (10-yr yield +2 bps at 2.20%) while S&P 500 futures returned to their highs.

One more economic report awaits with July Pending Home Sales set to be released at 10:00 ET (Briefing.com consensus 1.0%).

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +26.00. Nasdaq futures vs fair value: +57.90.

The S&P 500 futures trade 26 points above fair value.

Markets in the Asia-Pacific region took their cue from the strong rebound on Wall Street on Wednesday and closed markedly higher Thursday in a bargain-hunting rally. China's Shanghai Composite (+5.3%) led the gainers. Strikingly, it was negative for the day with less than an hour to go in the session before a barrage of closing buying interest kicked in and pushed the Composite back above the 3,000 level with reports suggesting the People's Bank of China was active in the market once again.

Economic data was limited:
Australia's Q2 Building Capital Expenditure -5.6% month-over-month (expected -4.7%; prior -6.7%), Plant/Machinery Capital Expenditure -1.2% quarter-over-quarter (expected -1.0%; prior -0.8%), and Private New Capital Expenditure -4.0% quarter-over-quarter (expected -2.5%; prior -4.7%)

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Japan's Nikkei increased 1.1%, fading from higher levels as the session progressed. The consumer staples (+3.5%), financials (+2.2%), and health care (+1.6%) sectors were the strongest areas. Kikkoman Corp (+6.1%) led all winners followed by Shimizu Corp (+5.2%) and Obayashi Corp (+4.9%). The worst-performing stocks were Unitika (-3.1%), Yokogawa Electric (-3.0%), and Sumco Corp (-2.9%). Out of the 225 index members, 170 ended higher, 49 finished lower, and 6 were unchanged.
Hong Kong's Hang Seng increased 3.6% after jumping as much as 2.6% in the final two hours of trading. Once again, the late move in the Hang Seng tracked the late move in the Shanghai Composite. CNOOC (+14.4%), China Resources Land (+10.5%), and China Life Insurance Co (+10.4%) charged up the leaderboard. Meanwhile, China Mengniu Dairy Co (-3.0%) was left behind as the only stock among the 50 index components that did not log a gain in Thursday's trading.
China's Shanghai Composite increased 5.3%, with the entirety of that gain coming in the final hour of trading. The Composite opened the session higher, but then surrendered its gains and was trading with a small loss with less than an hour to go in trading. There wasn't a specific news catalyst for the late spike.

Major European indices trade higher across the board with Germany's DAX (+3.3%) in the lead. Elsewhere, European Stability Mechanism chief, Klaus Regling, said he does not expect the ESM to fund the entire Greek bailout, suggesting the International Monetary Fund will be involved in the program.

In economic data:
Eurozone July M3 Money Supply +5.3% year-over-year (expected 4.9%; prior 5.0%) and July Private Sector Loans +0.9% year-over-year (consensus 0.8%; previous 0.6%)
Germany's July Import Price Index -0.7% month-over-month (consensus -0.4%; prior -0.5%); -1.7% year-over-year (expected -1.4%; last -1.4%)
French August Business Survey rose to 103 from 102 (expected 101)
UK's August Nationwide HPI +0.3% month-over-month (expected 0.4%; prior 0.4%); +3.2% year-over-year (consensus 3.1%; last 3.5%)
Spain's Q2 GDP +1.0% quarter-over-quarter; +3.1% year-over-year, as expected

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UK's FTSE is higher by 2.7% with financials among the leaders. Standard Chartered and HSBC hold respective gains of 5.3% and 3.2%. On the downside, consumer names underperform with Imperial Tobacco, Whitbread, and WM Morrison Supermarkets down between 0.1% and 0.5%.
In France, the CAC trades up 3.2% amid broad strength. Credit Agricole and Societe Generale hold gains close to 3.5% apiece while Bouygues and Renault lead with respective gains of 5.7% and 5.1%.
Germany's DAX has climbed 3.3% with help from most components. Fresenius SE leads with a 5.3% spike while Commerzbank and Deutsche Bank hold gains close to 3.0% apiece.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +19.30. Nasdaq futures vs fair value: +47.80.

The S&P 500 futures trade 19 points above fair value.

The latest weekly initial jobless claims count totaled 271,000 while the Briefing.com consensus expected a reading of 275,000. Today's tally was below the unrevised prior week count of 277,000. As for continuing claims, they rose to 2.269 million from 2.256 million.

Separately, the second estimate of second quarter GDP pointed to an expansion of 3.7%, up from the 2.3% increase observed in the preliminary reading. The Briefing.com consensus expected a reading of 3.1%. The second quarter GDP Deflator was revised up to 2.1% from 2.0% while the consensus expected no change.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +16.60. Nasdaq futures vs fair value: +40.60.

U.S. equity futures hold solid pre-market gains amid rebound action overseas. The S&P 500 futures trade 17 points above fair value after climbing off their lows at the start of the European session.

Meanwhile, Treasuries hold slim gains with the 10-yr yield down one basis point at 2.17%.

On the economic front, weekly Initial Claims (Briefing.com consensus 275K) and the second estimate of Q2 GDP (consensus 3.1%) will be released at 8:30 ET while the Pending Home Sales report for July (expected 1.0%) will cross the wires at 10:00 ET.

In U.S. corporate news of note:

Avago Technologies (AVGO 120.00, +3.80): +3.3% after beating bottom-line estimates.
Dollar General (DG 74.01, -2.70): -3.5% despite a one-cent beat.
Guess? (GES 19.51, -1.79): -8.4% after below-consensus guidance overshadowed better than expected results.
Signet Jewelers (SIG 129.99, +8.70): +7.2% after beating earnings and revenue expectations.
Tiffany & Co (TIF 80.50, -4.58): -5.4% after missing expectations and guiding lower.
Williams-Sonoma (WSM 77.90, -5.22): -6.3% in reaction to in-line earnings and below-consensus guidance for Q3.
Workday (WDAY 68.41, -3.99): -5.5% despite beating estimates and guiding in-line.

Reviewing overnight developments:

Asian markets ended broadly higher. China's Shanghai Composite +5.3%, Hong Kong's Hang Seng +3.6%, and Japan's Nikkei +1.1%
Economic data was limited:
Australia's Q2 Building Capital Expenditure -5.6% month-over-month (expected -4.7%; prior -6.7%), Plant/Machinery Capital Expenditure -1.2% quarter-over-quarter (expected -1.0%; prior -0.8%), and Private New Capital Expenditure -4.0% quarter-over-quarter (expected -2.5%; prior -4.7%)
In news:
China's Shanghai Composite paced the regional advance with reports suggesting the People's Bank of China intervened during the final hour in order to prop up equity prices
Bank of Japan Governor Haruhiko Kuroda said that Japan can meet its inflation target despite the plunge in oil prices. Mr. Kuroda added that the Bank of Japan is ready to adjust the pace of its QQE, but remains confident that the current pace of easing will be sufficient.

Major European indices trade higher across the board. UK's FTSE +2.3%, France's CAC +2.8%, and Germany's DAX +2.8%. Elsewhere, Italy's MIB +2.4% and Spain's IBEX +2.7%
In economic data:
Eurozone July M3 Money Supply +5.3% year-over-year (expected 4.9%; prior 5.0%) and July Private Sector Loans +0.9% year-over-year (consensus 0.8%; previous 0.6%)
Germany's July Import Price Index -0.7% month-over-month (consensus -0.4%; prior -0.5%); -1.7% year-over-year (expected -1.4%; last -1.4%)
French August Business Survey rose to 103 from 102 (expected 101)
UK's August Nationwide HPI +0.3% month-over-month (expected 0.4%; prior 0.4%); +3.2% year-over-year (consensus 3.1%; last 3.5%)
Spain's Q2 GDP +1.0% quarter-over-quarter; +3.1% year-over-year, as expected
Among news of note:
European Stability Mechanism chief, Klaus Regling, said he does not expect the ESM to fund the entire Greek bailout, suggesting the International Monetary Fund will be involved in the program

5:49 am: [BRIEFING.COM] S&P futures vs fair value: +22.00. Nasdaq futures vs fair value: +57.80.

5:49 am: [BRIEFING.COM] Nikkei...18574.44...+197.60...+1.10%. Hang Seng...21838.54...+758.20...+3.60%.

5:49 am: [BRIEFING.COM] FTSE...6113.25...+134.10...+2.20%. DAX...10311.26...+313.80...+3.10%.

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
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