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 Post subject: September 10th Thursday Trade Results - Profit $6125.00
PostPosted: Fri Sep 11, 2015 4:24 am 
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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)

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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 @ $6125.00 dollars or +122.50 points, Light Crude Oil CL ($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 @ $6125.00 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=147&t=2168

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.

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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 ended the Thursday session on a higher note after enduring a shaky start to the trading day. The S&P 500 added 0.5%, extending this week's gain to 1.6% while the Nasdaq Composite (+0.8%) outperformed and will enter the Friday session up 2.4% for the week.

Equity indices opened near their flat lines after the futures market was whipped around during pre-market action. The early-morning volatility followed a defensive session in Asia while European markets also struggled. Once the U.S. session got going, the market traded in sideways fashion through the first hour before climbing higher. However, the S&P 500 found resistance near the 1,965 level in the early afternoon, slipping into the close.

Heavily-weighted technology (+1.0%) and health care sectors (+0.9%) displayed strength from the start, and that dynamic kept the S&P 500 from sliding too far below its flat line during the opening hour. The top-weighted tech sector rallied behind Apple (AAPL 112.57, +2.42), which spiked 2.2%, while other large cap components posted slimmer gains. It is worth noting that high-beta chipmakers traded broadly higher in the morning, but the PHLX Semiconductor Index narrowed its gain to 0.4% by the close. That being said, the SOX Index remains on track to end the week higher by 3.0% versus a 2.5% week-to-date gain for the tech sector.

For its part, the health care sector received support from biotechnology, which also contributed to the relative strength in the Nasdaq Composite. The iShares Nasdaq Biotechnology ETF (IBB 350.72, +6.50) spiked 1.9%, extending this week's gain to 4.0%.

The two influential sectors remained ahead of the broader market even as the S&P 500 slid from its high during afternoon action. Similarly, energy (+0.5%) and financials (+0.5%) settled with gains while the remaining sectors struggled to keep pace with the market.

It is worth noting that the industrial sector added just 0.1%, masking a 0.9% jump in the Dow Jones Transportation Average, which pushed its weekly gain to 3.0%. Con-way (CNW 47.55, +12.02) was the big story in the bellwether complex as the stock surged 33.8% after agreeing to be acquired by XPO Logistics (XPO 30.24, -3.75) for $47.60/share or $3 billion.

Elsewhere, Treasuries ended the day just above their lows with the 10-yr yield up three basis points at 2.23%. Meanwhile, the Dollar Index (95.44, -0.57) retreated 0.6%, giving up 0.7% to the euro, which climbed to 1.1292 against the greenback.

Economic data included Initial Claims, Import/Export Prices, and Wholesale Inventories:

The initial claims level declined to 275,000 for the week ending September 5 from a downwardly revised 281,000 (from 282,000) while the Briefing.com consensus expected a drop to 275,000
After a brief slip to multi-decade lows in July, the claims level has stabilized around 275,000, which is a level that supports the idea that the labor market is encroaching on full employment
Export prices, excluding agriculture, decreased 1.3% in August after decreasing 0.4% in the prior reading
Excluding oil, import prices decreased 0.4%, which followed last month's decrease of 0.3%
Wholesale inventories declined 0.1% in July after increasing a downwardly revised 0.7% (from 0.9%) in June while the Briefing.com consensus expected an increase of 0.3%
That was the first contraction since a 0.7% decline took place in May 2013, likely resulting from pricing changes and not changes in inventory management. A sharp drop in petroleum prices in July led to a 4.8% decline in wholesale petroleum inventories, but excluding petroleum, wholesale inventories were flat

Tomorrow, August PPI (Briefing.com consensus -0.1%) will be reported at 8:30 ET while the preliminary reading of the Michigan Sentiment survey (consensus 91.5) will be released at 10:00 ET. The day's data will be topped off with the 14:00 ET release of the Treasury Budget for August.

Nasdaq Composite +1.3% YTD
Russell 2000 -4.1% YTD
S&P 500 -5.2% YTD
Dow Jones Industrial Average -8.4% YTD

3:30 pm: [BRIEFING.COM]

Commodities traded higher today. The Bloomberg Commodity Index is now +1.1% at 89.1462, holding nice gains.
Oil and gas futures saw some extra volatility due to the release of the weekly oil and natural gas storage data from the EIA.
At the end of today's session, Oct crude oil rose +3.8% to $45.85/barrel, while Oct natural gas rose +1.1% at $2.68/MMBtu
Metals rose as well. Dec gold ended the day +0.7% at $1109.40/oz, while Dec silver +0.5% at $14.65/oz.
In industrial metals, Dec copper +0.4% at $2.45/lb.
Grains found some buyers too. Dec corn gained $0.05 to $3.74/bushel, Dec wheat rose $0.05 to $4.78/bu and Nov soybeans climbed $0.01 to $8.73/bu

3:00 pm:

[BRIEFING.COM] The S&P 500 trades higher by 0.6% with one hour remaining in the session.

Thanks to its current gain, the benchmark index is on track to enter the Friday session with a weekly gain of 1.7%. This puts the S&P 500 behind the Nasdaq Composite (+0.8%) with the tech-heavy index showing a week-to-date gain of 2.4%.

All ten sectors have been able to advance this week with today's leader-technology (+1.2%)-on track to end the week higher by 2.7% while the other nine sectors show slimmer gains.

2:25 pm:

[BRIEFING.COM] Not much change in the market with the S&P 500 (+0.9%) hovering near its session high.

After enduring a volatile start to the trading day, the S&P 500 has spent the afternoon pushing to new highs. Influential sectors like health care (+1.3%) and technology (+1.2%) remain in the lead while the other eight sectors show gains slimmer than 1.0%.

Elsewhere, Treasuries have slipped to fresh lows in recent action, pushing the 10-yr yield up to 2.23% (+3 bps). Meanwhile, the Dollar Index (95.44, -0.57) is lower by 0.6% with the greenback surrendering 0.6% to the euro (1.1283).

1:55 pm:

[BRIEFING.COM] The major averages remain near their recently-established highs.

Labor market conditions continue to hum along their current path.

The initial claims level declined to 275,000 for the week ending September 5 from a downwardly revised 281,000 (from 282,000) for the week ending August 29. The Briefing.com Consensus expected the initial claims level to fall to 275,000.

After a brief foray to multi-decade lows in July, the initial claims level has stabilized around 275,000. These are levels that support the idea that the labor market is encroaching on full employment.

The continuing claims level increased to 2.260 mln for the week ending August 29 from an upwardly revised 2.259 mln (from 2.257 mln) for the week ending August 22. The consensus pegged the continuing claims level at 2.257 mln.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have rallied in recent minutes and pushed toward new session highs.

A look inside the Dow Jones Industrial Average shows Apple (AAPL 112.48, +2.33), Pfizer (PFE 32.57, +0.61), and Merck & Co (MRK 52.91, +0.98) are outperforming. Apple shares are rebounding from yesterday's decline as analysts chime in following yesterday's product announcement event. Pfizer and Merck are higher amid broad strength in the health care sector, today's best performing sector. Also helping Pfizer, this morning it was named a Global Top Pick at Jefferies, with a $47 price target.

Conversely, Wal-Mart (WMT 64.45, -0.67) is the worst-performing Dow component after disclosing in a regulatory filing last night that in Q2 it discovered a material weakness in its controls over accounting for leases.

At current levels, the DJIA is up 1.9% this week, but still down 0.7% this month.
Related Quotes

In other developments, the $13 bln 30-year auction at the top of the hours was met with strong demand. The offering drew a high yield of 2.98% on a bid-to-cover of 2.54 and saw a record-breaking interest from indirect bidders.

12:55 pm:

[BRIEFING.COM] The major averages hold solid midday gains with the Nasdaq Composite (+0.9%) trading ahead of the Dow Jones Industrial Average (+0.5%) and S&P 500 (+0.6%).

The Thursday session has gotten off to a volatile start after the futures market also saw whipsaw action early in the morning. The intraday volatility was highlighted by the S&P 500 as the index raced higher by almost 15 points before retracing the bulk of that move; however, the S&P 500 has returned near its session high since then.

Nine of ten sectors hold midday gains with health care (+1.1%) and technology (+1.1%) in the lead. The two influential groups have traded well ahead of the broader market since the opening bell, and their strength has prevented the market from dipping into the red earlier on. Furthermore, those two sectors have helped the Nasdaq Composite (+0.9%) stay ahead of the S&P 500.

Biotechnology is largely responsible for the strength in health care, evidenced by a 1.7% spike in iShares Nasdaq Biotechnology ETF (IBB 350.06, +5.84). Meanwhile, the tech sector has been boosted by large cap components like Apple (AAPL 112.57, +2.41), Oracle (ORCL 37.66, +0.56), and Qualcomm (QCOM 55.46, +1.14) while the PHLX Semiconductor Index trades up 0.8%, extending this week's gain to 3.4%.

Unlike health care and technology, the remaining sectors trade in-line with or behind the broader market. The second-largest group by weight-financials (+0.5%)-has kept pace with the S&P 500 while the industrial sector (+0.2%) underperforms despite relative strength in transport stocks. To that point, the Dow Jones Transportation Average has spiked 1.1% with Con-way (CNW 47.50, +11.97) up 33.7% after the company agreed to be acquired by XPO Logistics (XPO 32.51, -1.48) for $47.60/share or $3 billion.

Elsewhere, Treasuries have returned to their early-morning lows after a brief test of the unchanged level. The 10-yr yield is currently higher by two basis points at 2.22%

Economic data included Initial Claims, Import/Export Prices, and Wholesale Inventories:

The initial claims level declined to 275,000 for the week ending September 5 from a downwardly revised 281,000 (from 282,000) while the Briefing.com consensus expected a drop to 275,000
After a brief slip to multi-decade lows in July, the claims level has stabilized around 275,000, which is a level that supports the idea that the labor market is encroaching on full employment
Export prices, excluding agriculture, decreased 1.3% in August after decreasing 0.4% in the prior reading
Excluding oil, import prices decreased 0.4%, which followed last month's decrease of 0.3%
Wholesale inventories declined 0.1% in July after increasing a downwardly revised 0.7% (from 0.9%) in June while the Briefing.com consensus expected an increase of 0.3%
That was the first contraction since a 0.7% decline took place in May 2013, likely resulting from pricing changes and not changes in inventory management. A sharp drop in petroleum prices in July led to a 4.8% decline in wholesale petroleum inventories, but excluding petroleum, wholesale inventories were flat

12:30 pm:

[BRIEFING.COM] Recent action saw the major averages return near their session highs. The Nasdaq Composite (+0.8%) remains in the lead while the S&P 500 (+0.5%) follows.

The Nasdaq has stayed ahead of the broader market since the start, which is a function of daylong strength in biotechnology and technology. The iShares Nasdaq Biotechnology ETF (IBB 349.87, +5.65) trades up 1.6% while the technology sector is higher by 0.9%.

Overall, market breadth continues favoring the bulls with nearly two stocks trading in the green for each decliner.

11:55 am:

[BRIEFING.COM] Volatile action continues with the S&P 500 now up 0.4% after climbing off its unchanged level.

The early portion of today's affair has featured whipsaw action with most sectors alternating between gains and losses while technology (+0.7%) and health care (+0.7%) remain well ahead of the broader market. Meanwhile, other influential groups like consumer discretionary (unch), financials (+0.3%), and industrials (+0.1%) have struggled to keep pace with the market.

Notably, the industrial sector underperforms even though transport stocks trade ahead of the broader market thanks to a 33.5% surge in Con-way (CNW 47.44, +11.91) after the company agreed to be acquired by XPO Logistics (XPO 32.51, -1.48) for $47.60/share or $3 billion. For its part, the Dow Jones Transportation Average has spiked 1.1%.

11:25 am:

[BRIEFING.COM] The stock market has been pressured from its session high during the past 30 minutes with sellers attacking any signs of strength. As a result, the S&P 500 (+0.1%) is back to its flat line with five of six cyclical sectors showing losses while the technology space has narrowed its gain to 0.4%.

On the flip side, the energy sector (-0.4%) trades at the bottom of the leaderboard even though crude oil has jumped 2.4% to $45.21/bbl. Outside of energy, the remaining decliners trade with slimmer gains for the time being. As for energy, the sector is now down 0.9% for the week while the other nine sectors hold week-to-date gains between 0.4% (consumer staples) and 1.9% (technology).

Interestingly, Treasuries have not moved much in recent action with the 10-yr yield remaining higher by a basis point at 2.21%.

10:55 am:

[BRIEFING.COM] The major averages have charged to fresh highs after spending the first hour near their flat lines. The S&P 500 trades higher by 0.7% while the Nasdaq Composite (+1.0%) outperforms thanks to the combined strength in technology and biotechnology.

The top-weighted technology sector (+1.2%) holds the lead with help from some of its largest components. Apple (AAPL 112.45, +2.30) has spiked 2.1% while Google (GOOGL 649.09, +5.68), Oracle (ORCL 37.61, +0.52), and Intel (INTC 29.50, +0.26) are up between 0.9% and 2.2%.

Elsewhere, the health care sector (+1.0%) has been boosted by biotechnology, evidenced by a 1.4% spike in iShares Nasdaq Biotechnology ETF (IBB 349.16, +4.94).

10:35 am: [BRIEFING.COM]

The dollar index trended slightly negative overnight, and saw a modest sell-off going into the morning's US unemployment data release
Upon release of the in-line data for initial (275K actual vs. 275K est) and continuing (2.26 mln vs. 2.26 mln est) claims, the dollar index saw a muted reaction and is now trading red on the session at -0.1% to 95.86
Both Natural Gas and WTI trended higher in early trade, ahead of their individual EIA inventory reports- due out at 10:30 and 11:00 am ET respectively.
Natural gas inventory was expected to show a build of ~78 bcf (smaller than last week's 94 bcf)
Oil is expected to show an inventory build- which will likely be highlighted by yesterday afternoon's API-measured, 2.1 mln storage reading.
Upon release of Natural gas data, the December contract rallied sharply higher to a new high for today, and is now at +2.2% to $2.71/MMBtu
Crude is currently holding gains at +1.5% to $44.80/barrel
Precious metals are currently holding gains, with gold at +0.6% to $1108.80/oz and silver at +1.2% to $14.75/oz
Copper is now +0.5% to $2.45/lb

10:00 am:

[BRIEFING.COM] The S&P 500 has slipped from its early high and now trades lower by 0.1%.

Just released, July wholesale inventories fell 0.1% while the Briefing.com consensus expected an uptick of 0.3%. Today's report followed last month's revised increase of 0.7% (from 0.9%).

9:45 am:

[BRIEFING.COM] The major averages began the day just below their flat lines, but they were quick to make their way into the green. The S&P 500 trades higher by 0.2% with seven sectors showing early gains.

Heavily-weighted technology (+0.4%) and health care (+0.3%) have provided an early boost while industrials (+0.2%) and energy (+0.2%) trade in-line with the broader market. On the flip side, the telecom services sector (-0.2%) is the weakest performer so far while other decliners trade closer to their flat lines.

Treasuries have returned into negative territory with the 10-yr yield up two basis points at 2.22%.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -4.70. Nasdaq futures vs fair value: -7.70.

The stock market is on track for a lower open as S&P 500 futures trade five points below fair value. Futures on the benchmark index were up more than 20 points in the early morning, but a steady retreat commenced around 6:00 ET and has continued since then. Index futures saw little reaction to the release of an in-line Initial Claims report (275,000), slipping to lows amid cautious comments from well-known fund manager, David Tepper, who appeared on CNBC and said the current market environment is not conducive to aggressive risk taking.

Despite the weakness in futures, Treasuries are little changed with the 10-yr yield at 2.20%.

The focus this morning has been on the continued volatility in the futures market, but investors did receive some corporate news. Dow Jones Transportation Average component Con-way (CNW 47.33, +11.80) is on track to open higher by 33.2% after agreeing to be acquired by XPO Logistics (XPO 32.51, -1.48) for $47.60/share or $3 billion.

The Wholesale Inventories report for July (expected 0.3%) will cross the wires at 10:00 ET.

8:59 am: [BRIEFING.COM] S&P futures vs fair value: -8.50. Nasdaq futures vs fair value: -17.90.

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

Wall Street's weak finish on Wednesday set the tone on Thursday for Asian-Pacific markets, which ended mostly lower. Disappointing core machinery orders data out of Japan and a weaker than expected PPI reading out of China added to concerns about an economic slowdown, which contributed to selling pressure in the region. On a separate note, the Reserve Bank of New Zealand cut its official cash rate by 25 basis points to 2.75%, which was expected

In economic data:
China's August CPI +0.5% month-over-month (expected +0.4%; prior +0.3%); +2.0% year-over-year (expected +1.8%; prior +1.6%) while August PPI -5.9% year-over-year (expected -5.5%; prior -5.4%)
Japan's July Core Machinery Orders -3.6% month-over-month (expected +3.7%; prior -7.9%); +2.8% year-over-year (expected +10.5%; prior +16.6%) and August CGPI -0.6% month-over-month (expected -0.4%; prior -0.2%); -3.6% year-over-year (expected -3.3%; prior -3.0%)
Australia's August Employment Change +17.4K (expected +5.0K; prior +39.2K), August Unemployment Rate 6.2% (expected 6.2%; prior 6.3%), August Participation Rate 65.0% (expected 65.0%; prior 65.1%), and MI Inflation Expectations +3.2% (prior +3.7%)
South Korea's September M2 Money Supply +9.00% (prior +9.70%), August Export Price Index to -1.5% year-over-year (prior -2.0%), and August Import Price Index -13.6% year-over-year (prior -14.0%)
New Zealand's August Electronic Card Retail Sales +0.5% month-over-month (expected +0.3%; prior +0.4%)

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Japan's Nikkei declined 2.5% on the back of a report showing a disappointing month-over-month decline in core machinery orders. Losses were paced by the consumer staples (-3.9%), consumer discretionary (-3.3%), health care (-2.9%), and financials (-2.6%) sectors. Konami Corp (-8.1%), Suzuki Motor Corp (-6.1%), and Kikkoman Corp (-6.0%) were the worst-performing stocks while Pioneer Corp (+4.0%), Tokyo Electric Power (+4.0%), and SCREEN Holdings (+3.4%) topped the list of winners. Out of the 225 index members, 30 ended higher, 193 finished lower, and 2 were unchanged.
Hong Kong's Hang Seng declined 2.6% and ended near its low for the day, tracking a region-wide retreat. CNOOC (-6.6%), PetroChina (-5.1%), and China Resources Land (-5.0%) were the biggest laggards. Out of the 50 index members, only two -- Cheung Kong Property Holdings (+0.5%) and CITIC Ltd (+0.4%) -- ended higher.
China's Shanghai Composite declined 1.4%, succumbing to selling pressure in the final hour of trading. While China's CPI data for August was higher than expected, its PPI data was lower than expected, showing a decline for the 42nd straight month. The PPI report and an acknowledgment from Premier Li Keqiang that China's economy faces some downward pressure (but not a hard landing) cast a pall on investor sentiment.

Major European indices trade lower across the board with France's CAC (-1.5%) showing relative weakness. Elsewhere, the Bank of England made no changes to its policy stance, indicating the recent global volatility has had little impact on the bank's economic outlook

Investors received several data points:
UK's August Halifax House Price Index +2.7% month-over-month (expected 0.5%; prior -0.4%); +9.0% year-over-year (expected 7.9%; last 7.8%)
France's July Industrial Production -0.8% month-over-month (expected 0.2%; prior -0.1%) and Q2 Nonfarm Payrolls +0.2%, as expected
Spain's July Industrial Production +5.2% year-over-year (expected 4.3%; last 4.5%)

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Germany's DAX is lower by 1.3% with most components in the red. E.On is the weakest performer, down 6.3% while Commerzbank and Deutsche Bank hold respective losses of 0.8% and 1.6%. On the upside, Lanxess outperforms, trading higher by 2.2%.
UK's FTSE trades down 1.4% with miners and financials leading the retreat. BHP Billiton, Glencore, HSBC Holdings, and Standard Chartered are down between 2.7% and 6.9%. Homebuilder Barratt Developments outperforms, trading up 2.4%.
In France, the CAC has surrendered 1.5% with ArcelorMittal pacing the decline. The steelmaker has given up 3.6% while financials BNP Paribas, Credit Agricole, and Societe Generale are all down near 2.0% apiece.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -3.60. Nasdaq futures vs fair value: -7.10.

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

The latest weekly initial jobless claims count totaled 275,000, which is what the Briefing.com consensus expected. Today's tally was below the revised prior week count of 281,000 (from 282,000). As for continuing claims, they rose to 2.260 million from 2.259 million.

Also of note, export prices, excluding agriculture, decreased 1.3% in August after decreasing 0.4% in the prior reading. Excluding oil, import prices decreased 0.4%, which followed last month's decrease of 0.3%.

7:54 am: [BRIEFING.COM] S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: -3.50.

U.S. equity futures are little changed after pulling back from their pre-market highs reached about two hours ago. The S&P 500 futures trade within a point of fair value after being up nearly 25 points earlier.

Meanwhile, Treasuries display slim losses with the 10-yr yield up one basis point at 2.21%.

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.

In U.S. corporate news of note:

Con-way (CNW 47.31, +11.78): +33.1% after agreeing to be acquired by XPO Logistics (XPO 32.51, -1.48) for $47.60/share or $3 billion.
eBay (EBAY 26.00, -0.20): -0.8% after the stock was downgraded to 'Hold' from 'Buy' at Cantor Fitzgerald.
Krispy Kreme (KKD 14.50, -3.23): -18.2% after missing estimates and guiding FY2016 earnings below analyst estimates.
Lululemon (LULU 60.13, -3.92): -6.1% after below-consensus Q3 earnings guidance overshadowed better than expected results.
Palo Alto Networks (PANW 175.49, +10.32): +6.3% after beating earnings and revenue estimates.

Reviewing overnight developments:

Asian markets ended lower. China's Shanghai Composite -1.4%, Japan's Nikkei -2.5%, and Hong Kong's Hang Seng -2.6%
In economic data:
China's August CPI +0.5% month-over-month (expected +0.4%; prior +0.3%); +2.0% year-over-year (expected +1.8%; prior +1.6%) while August PPI -5.9% year-over-year (expected -5.5%; prior -5.4%)
Japan's July Core Machinery Orders -3.6% month-over-month (expected +3.7%; prior -7.9%); +2.8% year-over-year (expected +10.5%; prior +16.6%) and August CGPI -0.6% month-over-month (expected -0.4%; prior -0.2%); -3.6% year-over-year (expected -3.3%; prior -3.0%)
Australia's August Employment Change +17.4K (expected +5.0K; prior +39.2K), August Unemployment Rate 6.2% (expected 6.2%; prior 6.3%), August Participation Rate 65.0% (expected 65.0%; prior 65.1%), and MI Inflation Expectations +3.2% (prior +3.7%)
South Korea's September M2 Money Supply +9.00% (prior +9.70%), August Export Price Index to -1.5% year-over-year (prior -2.0%), and August Import Price Index -13.6% year-over-year (prior -14.0%)
New Zealand's August Electronic Card Retail Sales +0.5% month-over-month (expected +0.3%; prior +0.4%)
In news:
The Reserve Bank of New Zealand cut its official cash rate by 25 basis points to 2.75%, which was expected

Major European indices trade lower across the board. UK's FTSE -1.2%, France's CAC -1.1%, and Germany's DAX -0.9%. Elsewhere, Italy's MIB -1.0% and Spain's IBEX -1.5%
Investors received several data points:
UK's August Halifax House Price Index +2.7% month-over-month (expected 0.5%; prior -0.4%); +9.0% year-over-year (expected 7.9%; last 7.8%)
France's July Industrial Production -0.8% month-over-month (expected 0.2%; prior -0.1%) and Q2 Nonfarm Payrolls +0.2%, as expected
Spain's July Industrial Production +5.2% year-over-year (expected 4.3%; last 4.5%)
Among news of note:
The Bank of England made no changes to its policy stance, indicating the recent global volatility has had little impact on the bank's economic outlook

5:50 am: [BRIEFING.COM] S&P futures vs fair value: +17.00. Nasdaq futures vs fair value: +34.90.

5:50 am: [BRIEFING.COM] Nikkei...18299.62...-470.90...-2.50%. Hang Seng...21562.50...-568.80...-2.60%.

5:50 am: [BRIEFING.COM] FTSE...6199.13...-29.90...-0.50%. DAX...10284.16...-19.00...-0.20%.

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

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

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