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 Post subject: September 16th Wednesday Trade Results - Profit $2000.00
PostPosted: Thu Sep 17, 2015 2:59 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)

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 @ $2000.00 dollars or +40.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $2000.00 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=2172

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


4:15 pm: [BRIEFING.COM] The major averages strung together their second consecutive advance with the S&P 500 climbing 0.9%. The benchmark index extended its weekly gain to 1.7% while the Nasdaq Composite (+0.6%) underperformed, but still brought its week-to-date advance up to 1.4%.

Equities spent the first hour of the day near their flat lines before racing higher alongside the energy sector (+2.8%), which had shown relative strength from the start. That strength was closely linked to the buying surge in crude oil futures that sent the energy component higher by 5.8% to $47.15/bbl. A significant portion of the rally developed after the release of the weekly EIA inventory report, which showed a draw of 2.104 million barrels.

The sharp rally in the energy sector underpinned the overall market, which rallied despite the uncertainty surrounding tomorrow's FOMC policy statement, which could be highlighted by the first rate hike in more than nine years.

To be fair, there were some other areas of relative strength. Notably, the consumer staples sector (+1.1%) saw increased activity thanks to M&A rumblings among brewers and distillers after Anheuser-Busch Inbev (BUD 115.43, +7.39) approached SABMiller (SBMRY 56.45, +9.72) about a potential acquisition. SABMiller expressed willingness to entertain discussions, and the news boosted its peers, none more so than Molson Coors Brewing (TAP 82.98, +10.34), which surged 14.2%.

The news of a merger brewing in the consumer sector invited the heaviest NYSE floor volume of the week (863 million), but tomorrow's session is all but sure eclipse today's tally once the FOMC decision is announced.

Elsewhere, the industrial sector (+0.7%) settled not far behind the broader market, doing so despite relative weakness among transport stocks. Specifically, the Dow Jones Transportation Average was limited to a gain of 0.2% as FedEx (FDX 149.63, -4.37) weighed. Shares of FDX surrendered 2.8% in reaction to below-consensus earnings and guidance, dragging its peer, UPS (UPS 100.08, -0.44), lower by 0.4%.

The industrial sector settled just ahead of financials (+0.6%) while another cyclical group-technology (+0.4%)-underperformed throughout the day with Apple's (AAPL 116.35, +0.07) flat close keeping the sector behind the broader market.

The relative weakness in the technology sector translated into underperformance for the Nasdaq, but it is worth noting the index was also pressured by biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 355.14, -2.32) lost 0.7%, erasing the bulk of yesterday's gain. For its part, the health care sector ended behind the remaining nine groups, but still added 0.3%.

Unlike stocks, Treasuries spent the day inside a narrow range, slipping to lows into the close with the 10-yr yield rising one basis point to 2.30%.

Economic data included CPI and the NAHB Housing Market Index:

Consumer prices declined an in-line 0.1% in August after increasing 0.1% in July
A steep 2.0% drop in energy costs was responsible for the downtick, representing the first decline in energy prices since a 1.3% drop in April
Food prices increased 0.2% for a second consecutive month
Excluding food and energy, core CPI increased 0.1% for a second consecutive month in August, which is what the consensus expected
There were no outliers in the core price index and trends remain soft and stable.
The NAHB Housing Market Index for September rose to 62 from 61 while the Briefing.com consensus expected the reading to hold at 61

Tomorrow, weekly Initial Claims (Briefing.com consensus 275,000), August Housing Starts (consensus 1.158 million), Building Permits (expected 1.158 million), and the Q2 Current Account Balance (expected deficit of $112.20 billion) will be released at 8:30 ET while the Philadelphia Fed Survey for September will cross the wires at 10:00 ET. The day's data will be topped off with the 14:00 ET release of the FOMC policy statement and fed funds rate decision (consensus unchanged at 0.25%).

Nasdaq Composite +3.2% YTD
Russell 2000 -2.3% YTD
S&P 500 -3.1% YTD
Dow Jones Industrial Average -6.1% YTD

3:35 pm: [BRIEFING.COM]

According to the Bloomberg Commodity Index, commodities are about 1% today. The dollar index sold off today, which has provided overall upside in commodities.
In current trade, oil, gold, silver and copper futures remain near today's highs.
WTI oil prices rallied following today's EIA weekly storage data, which showed a larger-than-expected oil draw.
Oct crude oil ultimately closed today's session at +5.7% at $47.14/barrel.
In other energy, Oct natural gas declined -2.6% at $2.66/MMBtu
Silver displayed a nice rally, ultimately climbing +4% to end the day at $14.89/oz. Dec copper rose 1.5% at $1119.20/oz/
In base metals, Dec copper rose +0.8% to $2.45/lb

3:00 pm:

[BRIEFING.COM] The S&P 500 trades higher by 0.6% with one hour remaining in the trading day. Thanks to today's gain, the benchmark index is now up 1.5% for the week, but that standing could change notably by this time tomorrow, given the volatile nature of FOMC days.

Meanwhile, Treasuries have slid to new session lows in recent action after spending the bulk of the day near their flat lines. The 10-yr yield is now up two basis points at 2.30%, which represents a ten-basis point increase for the week.

2:30 pm:

[BRIEFING.COM] Equity indices continue hovering in the top half of their trading ranges with the S&P 500 (+0.4%) hovering about seven points below its session high reached in the early afternoon.

With the market backing away from its best level of the day, the health care sector (-0.3%) has returned into negative territory as continued weakness in biotechnology overshadows a decent showing from insurers and some other large cap sector components.

All things considered, the afternoon has been very quiet as investors anxiously await to hear tomorrow's policy statement from the FOMC and Chair Janet Yellen's press conference, with the latter set to begin 24 hours from this time.

1:55 pm:

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

Today's CPI report showed that inflation growth remains slow and stable.

Consumer prices declined 0.1% in August after increasing 0.1% in July. The Briefing.com Consensus expected the CPI to decline 0.1%.

The drop in the CPI was caused by a steep 2.0% drop in energy costs. That was the first decline in energy prices since a 1.3% drop in April, and it was the largest decline since a 9.6% decline in January. A 4.1% drop in gasoline prices was the main catalyst for the decline in energy prices.

Excluding food and energy, core CPI increased 0.1% for a second consecutive month in August. That was exactly what the consensus expected.

There were no outliers in the core price index and trends remain soft and stable.

Year-over-year, core CPI increased 1.8% in August. The growth rate has been virtually unchanged over the last six months.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have fallen slightly since our last update, but still sport decent gains as investors tread with caution ahead of tomorrow's much anticipated Fed decision.

A look inside the Dow Jones Industrial Average shows that General Electric (GE 25.99, +0.69), Exxon Mobil (XOM 74.31, +1.45), and Chevron (CVX 78.61, +1.44) are outperforming. Chevron and Exxon are higher alongside peers in the energy sector, helped by gains in crude oil, which is up almost 5% in today's trading session. GE on the other hand is higher after being added to U.S. and Global Focus Lists at Credit Suisse and announcing the completion of the sales of its European Sponsor Finance business and a $3.7 bln portfolio of loans from its UK home lending business. Year-to-date, GE's GE Capital unit has announced sales of ~$90 bln, as it looks to exit its financial arms and just focus on a core-industrial business.

Conversely, Verizon (VZ 46.26, -0.11) is the worst-performing Dow component as telecoms sit out of today's rally.

Taking into account today's gains, the DJIA is up 1.6% this week, and 1% this month.

12:55 pm:

[BRIEFING.COM] The major averages trade near their session highs at midday with the S&P 500 up 0.7% while the Nasdaq Composite (+0.5%) underperforms. With stocks climbing for the second day in a row, the S&P 500 is now up 1.5% for the week ahead of tomorrow's FOMC policy directive.

Today's advance has lifted all ten sectors, but energy (+2.2%) has been a clear standout from the start. Crude oil has contributed to the strength, trading higher by 5.7% at $47.14/bbl. The energy component has built on yesterday's advance, receiving a boost after the Energy Information Administration's storage report showed a larger than expected inventory draw.

In some ways, the first half of today's session has been similar to yesterday, but it is worth noting that today's trading volume is on track to register the highest daily total of the week considering 354 million shares have already changed hands at the NYSE floor.

Today's increase in activity is largely due to the developments in the consumer staples sector where brewery stocks have rallied after Anheuser-Busch Inbev (BUD 115.87, +7.83) approached SABMiller (SBMRY 56.10, +9.37) about a potential acquisition and SABMiller expressed willingness to entertain discussions. The M&A winds have given a noteworthy boost to Molson Coors Brewing (TAP 82.14, +9.50), sending the stock higher by 13.1%.

Similar to consumer staples, consumer discretionary (+0.9%), utilities (+1.2%), and materials (+1.0%) outperform while financials (+0.5%), technology (+0.4%), and industrials (+0.6%) underperform.

Notably, the industrial sector has been held back by transport stocks, evidenced by the Dow Jones Transportation Average, which trades flat. FedEx (FDX 147.95, -6.05) has surrendered 3.9% after enjoying a strong session yesterday with today's drop following below-consensus earnings and guidance.

Elsewhere, Treasuries have spent the day near their flat lines with the 10-yr yield pegged at 2.28%.

Economic data included CPI and the NAHB Housing Market Index:

Consumer prices declined an in-line 0.1% in August after increasing 0.1% in July
A steep 2.0% drop in energy costs was responsible for the downtick, representing the first decline in energy prices since a 1.3% drop in April
Food prices increased 0.2% for a second consecutive month
Excluding food and energy, core CPI increased 0.1% for a second consecutive month in August, which is what the consensus expected
There were no outliers in the core price index and trends remain soft and stable
The NAHB Housing Market Index for September rose to 62 from 61 while the Briefing.com consensus expected the reading to hold at 61

12:30 pm:

[BRIEFING.COM] Recent action saw the S&P 500 extend its gain to 0.7% and the push higher has pulled the health care sector (+0.1%) out of the red. Thanks to that move, all ten groups now trade with gains.

As for the broader market, the S&P 500 is on track to register its second consecutive advance ahead of tomorrow's FOMC policy statement, which could call for a higher fed funds rate. Given its current level, the benchmark index looks to register its highest close since August 20.

Elsewhere, Treasuries have largely ignored the action in equities with the 10-yr yield remaining at 2.28% following yesterday's slide that sent the benchmark yield higher by nine basis points.

12:05 pm:

[BRIEFING.COM] The major averages remain on their highs with the S&P 500 up 0.6%. The energy sector (+2.3%) continues holding the lead while health care (-0.1%) represents the lone decliner with biotechnology responsible for the weakness.

Judging by the early indication, today's trading volume is on track to surpass totals from Monday (765 million) and Tuesday (760 million) considering more than 270 million shares traded at the NYSE through the first two hours versus 226 million on Monday.

The early volume bump can be traced back to the consumer staples sector (+0.8%) where brewers and distillers have enjoyed strength after it was reported that Anheuser-Busch Inbev (BUD 114.67, +6.63) has approached SABMiller (SBMRY 55.85, +9.12) about a potential acquisition with SABMiller willing to entertain discussions. The M&A winds have lifted another brewer, Molson Coors Brewing (TAP 82.25, +9.61), sending the stock higher by 13.2%.

11:30 am:

[BRIEFING.COM] Equity indices have jumped to new highs with the S&P 500 now up 0.6% while the Nasdaq (+0.3%) has clawed out of the red.

The rally to session highs has lifted all ten sectors, but the energy space (+2.3%) remains well ahead of the remaining groups. The sector has rocketed higher with support from rambunctious price action in the oil market after the release of a storage report that showed a larger than expected inventory draw. Currently, WTI crude trades higher by 5.6% at $47.03/bbl, spiking to levels seen at the start of the month.

Thanks to the recent advance, nine sectors are now in the green while the health care space hovers near its flat line.

10:55 am:

[BRIEFING.COM] The major averages have spent the early portion of the trading day near their flat lines. The S&P 500 remains higher by 0.1% while the Nasdaq (-0.2%) is trapped in the red with biotechnology largely responsible for the underperformance. The iShares Nasdaq Biotechnology ETF (IBB 352.22, -5.24) is lower by 1.5% while the broader health care sector has given up 0.6% so far.

Similar to health care, two other large sectors-financials (-0.4%) and technology (-0.2%)-have struggled in the early going, which is keeping a lid on the broader market despite strength in most other sectors. On the upside, energy (+1.9%) remains in the lead, trading higher by 1.9%.

Elsewhere, Treasuries continue drifting near their flat lines with the 10-yr yield at 2.28%.

10:35 am: [BRIEFING.COM]

The dollar index trended negative overnight, before reversing into an extended rally ahead of the morning's US CPI data release
The dollar climbed to near its HoD ahead of the data, which was seen as having the potential to definitively support a decision for tomorrow's rate hike.
Upon release of the in-line (and negative) CPI figure, the dollar sharply sold off and is now -0.4% to 95.35.
It is also worth noting that the weakened dollar has given support to both oil and precious metals so far this morning
WTI traded higher overnight/early, largely driven by yesterday's API report that showed a 3.1 mln barrel draw (for last week) in inventories
Crude continued its run higher into the morning's EIA inventory report, which showed a 2.1 mln build in inventories
Upon release of the data, Oil pulled back and is now up 2.2% to $45.60/barrel
Natural gas trended flat early, before selling off to near the $2.68- a level where the December contract is now holding steady.
Ahead of tomorrow's EIA inventory report (expecting a build in inventories), nat gas is currently -1.8% to $2.68/MMBtu
Trading off weakness in the dollar, gold is now +1.4% to $1118.60/oz and silver is +3.6% to $14.83/oz
Copper is now at modest gains for the session, up 0.5% to $2.44/lb

10:00 am:

[BRIEFING.COM] The S&P 500 has narrowed its gain to 0.1% while the Nasdaq is now down 0.2% amid relative weakness in technology and biotechnology. The S&P technology sector is lower by 0.1% while the iShares Nasdaq Biotechnology ETF (IBB 354.65, -2.81) trades down 0.8%.

Just released, the NAHB Housing Market Index for September rose to 62 from 61 while the Briefing.com consensus expected no change at 61.

9:45 am:

[BRIEFING.COM] The S&P 500 (+0.2%) has climbed out of the gate while the Nasdaq Composite hovers just below its flat line.

For the second day in a row, the energy sector (+1.5%) has spiked into the lead as crude oil works on its second consecutive advance. The energy component is currently higher by 2.7% at $45.80/bbl, testing its best level of the day.

Outside of energy, consumer staples (+0.5%), materials (+0.6%), and industrials (+0.4%) hold gains while the remaining sectors hover near their respective flat lines.

Treasuries have inched lower in recent action, with the 10-yr yield rising nearly a basis point at 2.29%.

The September NAHB Housing Market Index (Briefing.com consensus 61) will cross the wires at 10:00 ET.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +3.00.

The stock market is on track for a flat open with S&P 500 futures trading two points above fair value after spending the night in a narrow range.

Despite the flat standing, the pre-market session has been pretty active thanks to news that Anheuser-Busch Inbev (BUD 114.19, +6.16) has approached SABMiller (SBMRY 46.73, 0.00) about a potential acquisition. The news has sent shares of SABMiller higher by 21.0% in London, underpinning a 1.2% spike in the FTSE 100. Other European indices also hold gains with Germany's DAX up 0.5% and France's CAC rising 1.5%.

Back in the U.S., the August CPI report was right in line with estimates. Headline consumer prices declined 0.1% in August after increasing 0.1% in July with a 2.0% drop in energy costs responsible for the August decline. Excluding food and energy, core CPI increased 0.1% for a second consecutive month in August.

One more data point will be released this morning with the September NAHB Housing Market Index (Briefing.com consensus 61) set to cross the wires at 10:00 ET.

Treasuries are little changed with the 10-yr yield at 2.28%.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +0.60. Nasdaq futures vs fair value: +1.00.

The S&P 500 futures trade within a point of fair value.

Markets in the Asia-Pacific region seemed to follow Wall Street's lead early on Wednesday and China's lead late on Wednesday. To that end, gains were registered in nearly every market, yet none more so than China's Shanghai Composite (+4.9%), which soared over 5.0% in a one-hour span that unfolded late in the trading session. It is worth noting that the MSCI head indicated China's A-shares could be included in the MSCI benchmark sooner than expected, according to reports.

In economic data:
Australia's MI Leading Index -0.3% month-over-month (prior +0.1%)
New Zealand's Q2 Current Account NZD -1.22 bln quarter-over-quarter (expected NZD -1.50 bln; prior NZD 0.66 bln); NZD -8.30 bln year-over-year (expected NZD -8.80 bln; prior NZD -8.60 bln)

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Japan's Nikkei increased 0.8%, supported by gains in the industrials (+2.1%) and technology (+2.0%) sectors. Topping the list of individual winners were Sumco Corp (+6.1%), JTEKT Corp (+5.3%), and Pioneer Corp (+5.0%). Kansai Electric Power (-6.2%), Chubu Electric Power (-5.8%), and Nippon Paper Industries (-5.1%) were the biggest losers. Out of the 225 index members, 158 ended higher, 63 finished lower, and 4 were unchanged.
Hong Kong's Hang Seng increased 2.4%, scoring the bulk of that gain in the final two hours of trading. Upside leaders included Galaxy Entertainment Group (+6.3%), Lenovo Group (+5.0%), and Sands China (+4.7%). Out of the 50 index members, only two -- China Resources Enterprise (-1.4%) and Hengan International Group (-0.7%) -- ended the day lower.
China's Shanghai Composite surged 4.9%. Remarkably, the Composite was down 0.6% roughly 90 minutes before the end of the session. A late spike in buying interest, however, turned the tide in a big way. While there were some headlines that could ostensibly be cited as a catalyst for the late surge (eg. PBOC Chief Economist making uplifting remarks about the economy), it was generally regarded as a government-backed move.

Major European indices trade higher across the board with France's CAC (+1.4%) showing relative strength. On a related note, France's Finance Minister Michel Sapin released the 2016 budget and growth forecast for the country, seeing 2016 GDP growth at 1.5% against 1.0% expected this year. Meanwhile, the 2016 inflation forecast has been raised to 1.0% from 0.1% in 2015

Investors received several data points:
Eurozone August CPI 0.0% month-over-month (expected -0.6%; prior -0.6%); +0.1% year-over-year (consensus 0.2%; last 0.2%). Separately, Core CPI +0.3% month-over-month (prior -0.7%); +0.9% year-over-year (consensus 1.0%; prior 1.0%)
UK's July Average Earnings Index + Bonus +2.9% (consensus 2.5%; prior 2.6%) while August Claimant Count Change 1,200 (expected -5,000; prior -6,800) and the Unemployment Rate 5.5% (expected 5.6%; prior 5.6%)
Swiss September ZEW Expectations 9.7 (prior 5.9)

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Germany's DAX trades higher by 0.4% with all but five components in the green. K+S leads with a gain of 4.1% while consumer heavyweight Adidas follows (+2.4%). Health care names have also shown relative strength with Henkel, Fresenius, and Merck up between 1.0% and 1.4%. Financials lag with Deutsche Bank down 0.2% and Commerzbank lower by 1.0%.
UK's FTSE has climbed 1.2% with SABMiller surging 20.8% amid speculation the company may be acquired by Anheuser-Busch Inbev. Peer Diageo has climbed 2.1% while miners underperform. Anglo American, Antofagasta, Rio Tinto, and Fresnillo are down between 1.4% and 2.5%.
In France, the CAC trades up 1.4% amid broad strength. Consumer names lead with Carrefour, Pernod Ricard, Kering, and Louis Vuitton up between 3.0% and 4.1%. Steelmaker ArcelorMittal is the lone decliner, down 1.0%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +5.30.

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

Total CPI declined 0.1% (Briefing.com consensus -0.1%) in August while Core CPI, which excludes food and energy, increased 0.1% (Briefing.com consensus +0.1%). On a year-over-year basis, total CPI is up 0.2% and core CPI is up 1.8%.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +8.60.

U.S. equity futures trade modestly higher after climbing off their overnight lows. The S&P 500 futures hover three points above fair value after respecting an eight-point range throughout the night.

Meanwhile, U.S. Treasuries are little changed with the 10-yr yield flat at 2.28%.

On the economic front, the weekly MBA Mortgage Index fell 7.0% to follow last week's 6.2% decline while August CPI (Briefing.com consensus -0.1%) will be reported at 8:30 ET, and the September NAHB Housing Market Index (consensus 61) will cross the wires at 10:00 ET.

In U.S. corporate news of note:

Anheuser-Busch Inbev (BUD 115.40, +7.36): +6.8% amid reports the company has approached SABMiller (SBMRY 46.73, 0.00) about a potential acquisition.
FedEx (FDX 149.00, -5.00): -3.3% after missing bottom-line estimates and lowering its guidance for fiscal year 2016.
Ascena Retail Group (ASNA 12.00, +0.03): +0.3% in reaction to a one-cent beat.

Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite +4.9%, Hong Kong's Hang Seng +2.4%, and Japan's Nikkei +0.8%
In economic data:
Australia's MI Leading Index -0.3% month-over-month (prior +0.1%)
New Zealand's Q2 Current Account NZD -1.22 bln quarter-over-quarter (expected NZD -1.50 bln; prior NZD 0.66 bln); NZD -8.30 bln year-over-year (expected NZD -8.80 bln; prior NZD -8.60 bln)
In news:
The MSCI head indicated China's A-shares could be included in the MSCI benchmark sooner than expected, according to reports

Major European indices trade higher across the board. France's CAC +1.5%, UK's FTSE +1.1%, and Germany's DAX +0.7%. Elsewhere, Italy's MIB +1.2% and Spain's IBEX +1.6%
Investors received several data points:
Eurozone August CPI 0.0% month-over-month (expected -0.6%; prior -0.6%); +0.1% year-over-year (consensus 0.2%; last 0.2%). Separately, Core CPI +0.3% month-over-month (prior -0.7%); +0.9% year-over-year (consensus 1.0%; prior 1.0%)
UK's July Average Earnings Index + Bonus +2.9% (consensus 2.5%; prior 2.6%) while August Claimant Count Change 1,200 (expected -5,000; prior -6,800) and the Unemployment Rate 5.5% (expected 5.6%; prior 5.6%)
Swiss September ZEW Expectations 9.7 (prior 5.9)
Among news of note:
France's Finance Minister Michel Sapin released the 2016 budget and growth forecast for the country, seeing 2016 GDP growth at 1.5% against 1.0% expected this year. Meanwhile, the 2016 inflation forecast has been raised to 1.0% from 0.1% in 2015

5:50 am: [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +2.30.

5:50 am: [BRIEFING.COM] Nikkei...18171.60...+145.10...+0.80%. Hang Seng...21966.66...+511.40...+2.40%.

5:50 am: [BRIEFING.COM] FTSE...6190.12...+51.60...+0.80%. DAX...10246.68...+58.60...+0.60%.

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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