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 Post subject: September 9th Wednesday Trade Results - Profit $3312.50
PostPosted: Wed Sep 09, 2015 11:42 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
090915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3312.50.png
090915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3312.50.png [ 94.39 KiB | Viewed 319 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $3312.50 dollars or +66.25 points, Light Crude Oil CL ($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 @ $3312.50 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=147&t=2167

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=271&t=2883 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.

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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 ended Tuesday on a defensive note despite enjoying an upbeat start to the session. The S&P 500 began the day with a 15-point gain, which morphed into a 27-point loss by the close. The benchmark index surrendered 1.4% while the Nasdaq Composite (-1.2%) settled a bit ahead.

Equity indices hit their highs shortly after the opening bell with the early move fueled by strengthening risk appetite overseas. To that point, Asian markets posted solid gains with China's Shanghai Composite jumping 2.3% amid continued speculation about government involvement in the market while Japan's Nikkei soared 7.7%, registering its largest one-day gain since October 2008, after Prime Minister Shinzo Abe pledged to lower the corporate tax rate by at least 3.3%.

The positive vibes carried into the European session, but the demand for equities began receding once the U.S. market opened. The S&P 500 spent the first 90 minutes of the day in a slow retreat from its high and hovered near its flat line into the early afternoon. The index then dipped into negative territory alongside Apple (AAPL 110.15, -2.16) as the largest stock by market cap slid to a session low in reaction to the company's underwhelming product refresh event. Shares of Apple settled lower by 1.9% while the broader technology sector (-1.3%) had a better showing than its leading component, ending just ahead of the market. Like Apple, most large cap components ended in the red, but Facebook (FB 90.44, +0.91) added 1.0%.

Staying in the tech sector, high-beta chipmakers struggled throughout the session, but despite today's 1.8% loss, the PHLX Semiconductor Index remains higher by 2.5% for the week. Meanwhile, another high-beta group-biotechnology-displayed relative weakness throughout the session. The iShares Nasdaq Biotechnology ETF (IBB 344.22, -7.55) lost 2.2%, trimming this week's gain to 2.1%. On a related note, the health care sector lost 1.6%.

Moving back to the cyclical side, the energy sector (-1.9%) struggled throughout the day as renewed weakness in oil prices took its toll on the commodity-sensitive sector. The energy space is now down 0.5% for the week while crude oil tumbled 3.9% today to $44.15/bbl.

Elsewhere, Treasuries retreated overnight, hitting their lows shortly after 9:00 ET; however, a daylong rally erased that entire loss. As a result, the 10-yr note settled on its high with the benchmark yield down one basis point at 2.18%.

Today's participation was slightly stronger than yesterday as more than 905 million shares changed hands at the NYSE floor.

Economic data was limited to the MBA Mortgage Index and JOLTS:

The weekly MBA Mortgage Index fell 6.2% to follow last week's 11.3% spike
The July Job Openings and Labor Turnover Survey showed an increase in openings to 5.753 million from 5.323 million

Tomorrow, weekly Initial Claims (Briefing.com consensus 275K) and August Import/Export Prices will be reported at 8:30 ET while the Wholesale Inventories report for July (expected 0.3%) will cross the wires at 10:00 ET.

Nasdaq Composite +0.4% YTD
Russell 2000 -4.6% YTD
S&P 500 -5.7% YTD
Dow Jones Industrial Average -8.8% YTD

3:40 pm: [BRIEFING.COM]

Commodities remained weak today with many holding losses despite in reversal in the dollar index in afternoon trade.
The dollar is now in the red, currently -0.02%.

Oil prices slid lower late in today's session and currently remains near today's low. Oct WTI crude finished -3.7% at $44.16/barrel.
Natural gas slid lower in morning and afternoon trade and ended the day -2.2% at $2.65/MMBtu.
Gold and silver remained in the red in afternoon trade, finishing the day with losses. Dec gold closed -1.7% at $1102/oz, while Dec silver -1.1% at $14.58/oz.

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 0.7% with one hour remaining in the session.

The benchmark index was up more than 15 points at the start of the trading day, but a steady retreat from opening highs has kept the index in a downtrend throughout the trading day. The S&P 500 dipped into the red shortly after 13:00 ET in a move that coincided with selling in the shares of Apple (AAPL 111.35, -0.96) as the company held its latest product refresh event. The largest stock by market cap trades lower by 0.7% at this time while the broader technology sector (-0.5%) remains just ahead of the S&P 500.

Elsewhere, Treasuries are now on track to end the day with slim gains after surrendering their morning losses. The 10-yr yield is now down one basis point at 2.18%.

2:25 pm:

[BRIEFING.COM] The major averages remain just above their session lows with the Nasdaq Composite (-0.2%) hovering near its flat line while the S&P 500 (-0.5%) underperforms.

The recent move to lows has pressured all ten sectors with the energy space (-1.5%) showing continued weakness as heavy selling in the oil market has WTI crude trading lower by 3.5% at $44.32/bbl going into the pit close. Including today's decline, the energy sector is now down 0.1% for the week while the remaining nine sectors sport weekly gains between 1.3% (consumer staples and utilities) and 2.5% (industrials).

Elsewhere, Treasuries have erased the remainder of their losses with the 10-yr yield back to flat at 2.19% after testing the 2.25% level earlier.

1:55 pm:

[BRIEFING.COM] The major averages hover near their recently-established lows while Treasuries have erased more than half of their losses with the 10-yr yield now up just two basis points at 2.20%.

Today's JOLTS report gave further indication that the labor market is tightening.

According to the BLS, there were 5.8 mln job openings in July. That was up from 5.3 mln in June and the most unfilled positions since the dataset was created in December 2000.

Considering that the initial claims level hit a forty-year low in July, the JOLTS data suggests that businesses are doing everything they can to hang onto their labor staff because finding a suitable replacement is a daunting task.

1:35 pm:

[BRIEFING.COM] The major U.S. indices are currently mixed as the S&P 500 and the Dow Jones Industrial Average slip into negative territory while the Nasdaq outperforms.

A look inside the Dow Jones Industrial Average shows Goldman Sachs (GS 188.56, +2.68), Apple (AAPL 113.38, +1.07), and Boeing (BA 134.85, +1.03) are outperforming. Goldman is higher after being upgraded to Buy from Neutral at BofA/Merrill while Apple shares are active after its special product event remains underway. So far, Apple has introduced the iPad Pro and updates for its Apple Watch, including an updated OS as well as a new line of styles and bands in a partnership with Hermes.

Conversely, Chervron (CVX 75.96, -0.88) is the worst-performing Dow component as the energy slump pulls back on a slump in cured oil futures, which are currently down 2.2% today to $44.93/bbl.

Surrendering this mornings notable gains, the DJIA has slipped back into the red for September, showing a decline of 0.5% for the month. The DJIA is now down ~7.7% this year.

12:55 pm:

[BRIEFING.COM] The major averages display modest midday gains after retreating from their opening highs. The S&P 500 remains higher by 0.1% while the Nasdaq Composite (+0.3%) outperforms.

Equity indices began the day on an upbeat note after the overnight session featured a sharp rally across Asian markets. China's Shanghai Composite charged higher by 2.3% amid continued speculation about government involvement in the market while Japan's Nikkei soared 7.7%, posting its largest one-day gain since October 2008, after Prime Minister Shinzo Abe pledged to lower the corporate tax rate by at least 3.3%.

The renewed risk demand carried into the European session, encountering a bit of a speedbump after Wall Street opened for action. The S&P 500 has retreated from its opening high, but six sectors continue holding gains while the four decliners show losses of no more than 0.5% (energy).

On the flip side, five of six cyclical sectors trade ahead of the broader market with heavily-weighted consumer discretionary (+0.4%) and technology (+0.3%) showing relative strength. Notably, the tech sector has overcome relative weakness in chipmaker names with help from large cap stocks. The PHLX Semiconductor Index is lower by 0.4% while the largest tech component-Apple (AAPL 112.68, +0.37)-is higher by 0.3% ahead of the company's product refresh event scheduled to begin at 13:00 ET.

Elsewhere among cyclical groups, the energy sector (-0.5%) has struggled amid a 2.1% drop in crude oil, which has retreated to $44.94/bbl. For its part, the other commodity-related sector-materials (+0.3%)-has benefitted from strength among miners as copper advances for the second day in a row. For instance, Rio Tinto (RIO 36.26, +0.33) trades up 0.9%.

Today's economic data was limited to the MBA Mortgage Index and JOLTS:

The weekly MBA Mortgage Index fell 6.2% to follow last week's 11.3% spike
The July Job Openings and Labor Turnover Survey showed an increase in openings to 5.753 million from 5.323 million

12:25 pm:

[BRIEFING.COM] Equity indices remain near their session lows after slipping from their highs through the first two hours of the trading day.

In our prior update, we highlighted the technology sector (+0.3%), which was struggling to stay ahead of the broader market; however, the top-weighted sector has perked up in recent action with Apple (AAPL 112.88, +0.57) now up 0.5% ahead of its press event, which is set to begin soon. Thanks to its current gain, the tech sector is now up 3.2% for the week, which puts the group ahead of the remaining nine sectors.

On the downside, four sectors trade in negative territory with consumer staples (-0.2%), health care (-0.2%), utilities (-0.2%), and energy (-0.2%) showing slim losses.

11:55 am:

[BRIEFING.COM] Equity indices have inched down to fresh lows with the S&P 500 (-0.1%) dipping into the red.

Cyclical sectors continue faring better than their defensively-oriented counterparts, but even the groups that remain in positive territory have backtracked from their highs, leaving the materials sector (+0.4%) in the lead. More notably, the top-weighted technology space (+0.1%) trades right ahead of the broader market.

The tech sector was among yesterday's leaders, but the group has struggled to stay ahead today as high-beta chipmakers underperform. To that point, the PHLX Semiconductor Index is lower by 0.9% with all but four components trading in the red. Despite today's decline, the high-beta Index remains higher by 3.5% for the week.

Staying in the tech sector, Apple (AAPL 112.25, -0.06) trades little changed ahead of its product refresh event scheduled to begin at 13:00 ET.

11:25 am:

[BRIEFING.COM] The major averages hover just above their flat lines after sliding from their opening highs. The S&P 500 has narrowed today's gain to 0.1%, but the index remains up 2.6% for the week thanks to yesterday's broad surge.

Generally speaking, cyclical sectors have held their own as the six growth-sensitive groups hold gains between 0.2% and 0.6%. The technology sector (+0.2%) holds the slimmest gain amid relative weakness in the chipmaker space (PHLX Semiconductor Index -0.6%) while the materials sector (+0.6%) remains ahead as copper futures register their second consecutive advance. Miner Rio Tinto (RIO 36.54, +0.61) has spiked 1.7% after surging 5.0% yesterday.

Elsewhere, Treasuries have ticked up off their lows, but they remain in negative territory with the 10-yr yield up five basis points at 2.24%.

10:55 am:

[BRIEFING.COM] Equity indices have backed away from their opening high with the S&P 500 narrowing its gain to 0.1%. Meanwhile, the Nasdaq Composite (-0.1%) has slipped below its flat line after showing relative strength yesterday and earlier today.

Today's pullback is not entirely surprising considering the S&P 500 was up 3.5% for the week shortly after today's opening bell. Given the recent retreat from highs, the benchmark index has narrowed this week's gain to 2.6%.

It is worth noting that the retreat from early highs has not stirred up demand for volatility protection with the CBOE Volatility Index (VIX 24.32, -0.58) lower by 2.3%. On a somewhat related note, Treasuries remain near their lows with the 10-yr yield up five basis points at 2.24%.

10:35 am: [BRIEFING.COM]

December copper futures are trading modestly higher, following yesterday's strong rally which pushed the metal up over 4.7% on the session
Commentary from the Chinese government overnight, indicating potential for further measures to be taken in support economic growth has also driven prices so far this AM.
Copper is now +0.3% to $2.44/lb
The dollar index has seen a strong rally from flat overnight, as a proposed corporate tax cut by Japanese PM Abe has driven the index to moderate gains so far
The dollar's strength is putting strong selling pressure on the both oil and precious metals, with the index now +0.4% to 96.19
Crude is currently holding losses-down from overnight positives- at -1.3% to $45.31/barrel
Note: due to the Labor Day holiday, EIA inventory data will be released tomorrow at 11 am ET
Note: due to the Labor Day holiday, EIA inventory data will be released tomorrow at 11 am ET
Natural gas is also seeing a modest sell-off, at -1.4% to $2.67/MMBtu, as over-supply concerns continue to build ahead of tomorrow's EIA inventory data (expected to show a moderate build), which is due out at 10:30 am ET
Precious metals are trading down on dollar strength, with gold at -1% to $1110.0/oz and silver at -0.6% to $14.67/oz

10:05 am:

[BRIEFING.COM] The S&P 500 trades higher by 0.7%.

Just released, the July Job Openings and Labor Turnover Survey showed an increase in openings to 5.753 million from 5.323 million.

9:40 am:

[BRIEFING.COM] As expected, the major averages have charged out of the gate. The S&P 500 trades higher by 0.7% while the Nasdaq Composite (+0.8%) displays relative strength for the second consecutive day.

The early strength has been far-reaching as nine sectors display gains while the utilities space (-0.4%) hovers just below its flat line. On the flip side, materials (+1.3%), financials (+1.1%), and energy (+1.2%) trade ahead of the remaining sectors. Also of note, the top-weighted technology sector (+1.0%) appears among the leaders.

Elsewhere, Treasuries remain near their session lows with the 10-yr yield up seven basis points at 2.25%.

The Job Openings and Labor Turnover Survey for July will be released at 10:00 ET.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: +19.20. Nasdaq futures vs fair value: +51.10.

The stock market is on track to extend yesterday's gains in the early going as S&P 500 futures trade 19 points above fair value.

Futures on the benchmark index climbed during overnight action amid broad strength in Asia. China's Shanghai Composite spiked 2.3% with stimulus chatter continuing for the second consecutive day while Japan's Nikkei soared 7.7% to register its largest one-day gain since October 2008 after Prime Minister Shinzo Abe pledged to lower the corporate tax rate by at least 3.3%.

The strength observed during the Asian session carried over to European markets as France's CAC, Germany's DAX, and UK's FTSE show gains between 1.9% and 2.8% at this juncture. Meanwhile, the euro has retreated 0.7% against the dollar to 1.1140, leaving the Dollar Index (96.35, +0.37) up 0.4%.

Treasuries sit on their lows with the 10-yr yield up six basis points at 2.25%.

The Job Openings and Labor Turnover Survey for July will be released at 10:00 ET.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +19.00. Nasdaq futures vs fair value: +50.70.

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

Markets in the Asia-Pacific region scored some huge gains on Wednesday, none more so than Japan's Nikkei (+7.7%), which logged its biggest one-day gain since October 2008. The regional rally effort was catalyzed by Wall Street's positive showing on Tuesday and enthusiasm about potential pro-growth fiscal stimulus plans in China and Japan.

In economic data:

Japan's M2 Money Stock +4.2% year-over-year (expected +4.1%; prior +4.0%), August Household Confidence 41.7 (expected 40.6; prior 40.3), and Machine Tool Orders -16.5% year-over-year (prior +1.7%)
South Korea's August Unemployment Rate 3.6% (expected 3.8%; prior 3.7%)
Australia's September Westpac Consumer Sentiment -5.6% (expected -5.0%; prior +7.8%) and July Home Loans +0.3% month-over-month (expected +0.8%; prior +4.8%)

------

Japan's Nikkei soared 7.7%, logging its biggest one-day gain since October 2008. The move was catalyzed by Wall Street's strong showing on Tuesday, a weaker yen, and Prime Minister Abe noting he will make an effort to propose cutting the corporate tax rate by at least 3.3 percentage points in the next fiscal year. All sectors gained ground, but none more so than the health care (+8.8%) sector. In turn, there wasn't a single loser among the Nikkei 225. Terumo Corp (+11.6%), Shionogi & Co. (+11.5%), and Nitto Denko (+11.2%) were the biggest gainers. Toshiba (+1.0%) posted the smallest gain among index members.
Hong Kong's Hang Seng rallied 4.1% and ended near its highs for the day, bolstered by strength in other markets and Chinese companies with listings in Hong Kong. China Petroleum & Chemical (+8.5%), Bank of China (+7.4%), and Henderson Land Development (+7.1%) topped the list of winners. Out of the 50 index members, Li & Fung (-0.2%) was the only loser.
China's Shanghai Composite increased 2.3%, building on Tuesday's late rally effort. Reports attributed Wednesday's move to investor enthusiasm over the potential for additional fiscal stimulus from the government. The CSI 300 Index for its part added 2.0%.

Major European indices trade higher across the board as they continue building on gains registered earlier this week. On a separate note, a spokesperson for the EU Commission said Greece has made progress on implementation on reforms, but would not comment further ahead of the snap election set for September 20.

Economic data was limited:

UK's July Industrial Production -0.4% month-over-month (expected 0.1%; prior -0.4%) +0.8% year-over-year (expected 1.4%; previous 1.5%) while Manufacturing Production -0.8% month-over-month (expected 0.2%; prior 0.2%); -0.5% year-over-year (consensus 0.5%; last 0.5%). Also of note, July trade deficit widened to GBP11.08 billion from GBP8.51 billion (expected deficit of GBP9.50 billion)

------

Germany's DAX is higher by 1.9% with all but two names in the green. Exporters BMW, Daimler, and Volkswagen are the clear leaders with gains between 3.0% and 3.2%. On the flip side, RWE and Infineon are both down near 0.7%.
UK's FTSE has climbed 2.1% with miners pacing the move. Anglo American, BHP Billiton, Rio Tinto, and Glencore are up between 4.3% and 6.3%. Airline easyJet is the weakest performer, down 1.7%.
In France, the CAC trades up 2.7% amid broad strength. Heavyweights, Renault, Peugeot, Valeo, and Accor show gains between 3.5% and 4.5%. On the downside, Alsto has given up 0.3%.

8:25 am: [BRIEFING.COM] S&P futures vs fair value: +16.10. Nasdaq futures vs fair value: +44.20.

U.S. index futures continue drifting in the neighborhood of their pre-market highs as another cash session is set to begin with an opening spike. The S&P 500 surged 2.5% yesterday and if the current indication holds, the benchmark index will erase the remainder of its 3.4% loss from last week shortly after the opening bell.

Treasuries have retreated during overnight action and they remain near their lows with the 10-yr yield up three basis points at 2.22%.

Also of note, the Dollar Index (96.33, +0.34) has climbed 0.4% with the greenback picking up 0.7% against the euro (1.1145) and the yen (120.85).

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +17.90. Nasdaq futures vs fair value: +48.80.

U.S. equity futures hold solid pre-market gains after enjoying a steady climb overnight that was fueled by hopes for more stimulus from China. The S&P 500 futures hover 18 points above fair value after hitting their highs around the start of the European session.

Meanwhile, Treasuries hold losses with the 10-yr yield up almost four basis points at 2.22%.

On the economic front, the weekly MBA Mortgage Index fell 6.2% to follow last week's 11.3% spike while the Job Openings and Labor Turnover Survey for July will be released at 10:00 ET.

In U.S. corporate news of note:

Goldman Sachs (GS 189.60, +3.72): +2.0% after Bank of America/Merrill Lynch upgraded the stock to 'Buy' from 'Neutral.'
HD Supply Holdings (HDS 33.75, +0.50): +1.5% after the company reported a two-cent beat and guided Q3 earnings above analyst estimates.
SunEdison (SUNE 13.37, +0.43): +3.3% after Oppenheimer initiated coverage with an 'Outperform' rating.

5:53 am: [BRIEFING.COM] S&P futures vs fair value: +18.50. Nasdaq futures vs fair value: +49.90.

5:53 am: [BRIEFING.COM] Nikkei...18770.51...+1343.40...+7.70%. Hang Seng...22131.31...+872.30...+4.10%.

5:53 am: [BRIEFING.COM] FTSE...6258.05...+112.00...+1.80%. DAX...10460.30...+189.30...+1.80%.

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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