TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 4:48 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: September 22nd Tuesday Trade Results - Profit $2375.00
PostPosted: Wed Sep 23, 2015 2:47 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
092215-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2375.00.png
092215-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2375.00.png [ 94.05 KiB | Viewed 329 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 @ $2375.00 dollars or +47.50 points, Light Crude Oil CL ($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 @ $2375.00 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=2176

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.

Attachment:
092215-Key-Price-Action-Markets.png
092215-Key-Price-Action-Markets.png [ 1.24 MiB | Viewed 358 times ]

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


4:05 pm: [BRIEFING.COM] The stock market endured a rough trading day on Tuesday with the S&P 500 surrendering 1.2% while the Nasdaq Composite (-1.5%) underperformed.

Equity indices spent the duration of the session in the red after gapping lower at the start. The opening stumble occurred in response to continued concerns about China's economic growth, which was manifested through weakness in commodity prices. Furthermore, European automakers struggled with Volkswagen plunging 19.8% to extend this week's loss to 34.7% after announcing the establishment of a EUR6.50 billion reserve in anticipation of costs associated with the Department of Justice probe into the company's diesel engines. European markets registered losses across the board with Germany's DAX tumbling 3.8%.

Once the opening bell rang on Wall Street, the S&P 500 surrendered more than 15 points in short order and gave up another 20 into the afternoon. The index recovered about ten points during the final hour, but all ten sectors ended the day with losses.

The materials sector (-1.8%) spent the day at the bottom of the leaderboard as losses in commodities like copper (-3.8% to $2.30/lb) and gold (-0.7% to $1124.70/ozt) kept mining stocks under pressure. Accordingly, the Market Vectors Gold Miners ETF (GDX 13.36, -0.64) lost 4.6%.

Meanwhile, another commodity-related sector-energy (-1.1%)-began the day among the laggards, but was able to climb ahead of the broader market. The rebound off session lows was aided by similar price action in crude oil as the energy component ended lower by 1.3% at $46.31/bbl after trading below $45.50/bbl in the morning.

Elsewhere among cyclical sectors, financials (-1.3%), technology (-1.6%), and industrials (-1.4%) underperformed throughout the day, which prevented an intraday rebound from taking shape. To be fair, the health care sector (-0.6%) settled ahead of the broader market, but the same could not be said for biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 335.45, -5.02) ended lower by 1.5%, widening its week-to-date loss to 6.0%.

Biotechnology's underperformance contributed to relative weakness in the Nasdaq while high-beta chipmakers also weighed, evidenced by a 2.3% decline in the PHLX Semiconductor Index.

Switching gears, Treasuries rallied into the afternoon, erasing their losses from yesterday with the 10-yr yield falling seven basis points to 2.14%.

Today's participation was ahead of recent averages as more than 900 million shares changed hands at the NYSE floor.

Economic data was limited to the FHFA Housing Price Index for July, which rose 0.6% to follow last month's 0.2% uptick.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET.

Nasdaq Composite +0.4% YTD
Russell 2000 -4.9% YTD
S&P 500 -5.6% YTD
Dow Jones Industrial Average -8.4% YTD

3:40 pm: [BRIEFING.COM]

The dollar index traded higher today, which weighed on commodities
Copper futures took a real hit, falling 4% today. Front-month Dec copper closed the session -3.8% at $2.30/lb
Gold and silver sold off this morning and largely held today's losses
Dec gold closed pit trading -0.7% at $1124.70/oz, while Dec silver -2.9% at $14.77/oz
Nov WTI crude oil sold off today, falling as low as $45.39/barrel
However, oil put in a nice little rally off that LoD, but still closing the day in the red at $46.31/barrel, down -1.3%.
Oct natural gas rose 0.3% to $2.58/MMBtu today.

2:55 pm:

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

The benchmark index stumbled out of the gate and continued retreating until 13:30 ET, notching a session low just above the 1,929 level. However, dip-buyers have not shown any desire to get involved in today's action, which has left the benchmark index just above its afternoon low.

All ten sectors trade well below their flat lines going into the home stretch with materials (-2.2%) at the bottom of the leaderboard while the top-weighted technology sector (-2.1%) trades just ahead of materials.

2:30 pm:

[BRIEFING.COM] Not much change in the market with the S&P 500 trading lower by 1.7% with all ten sectors showing losses wider than 1.0% apiece.

Countercyclical sectors have fared better than their cyclical counterparts, but that can hardly be considered a victory considering the defensively-oriented sectors trade well below their flat lines. The utilities space (-1.3%) trades a bit ahead of its peers thanks to today's strength in Treasuries, which has erased yesterday's decline.

Meanwhile, the Dollar Index (96.35, +0.45) is higher by 0.5% to build on yesterday's gain. Today's greenback strength is noteworthy since it is taking place alongside weakness in equities. This represents a shift from the recent dynamic that saw congruent weakness in stocks and the dollar as investors were forced to unwind their euro-based carry trades.

1:55 pm:

[BRIEFING.COM] Equity indices continue drifting near their worst levels of the day.

We look ahead to Thursday's durable goods report.

Durable goods orders increased 2.2% in July after 4.1% in June. The Briefing.com Consensus expects durable goods orders declined 2.0% in August.

Auto sales in August were the most since July 2005, which should keep upward pressure on durable goods orders. Unfortunately, a sharp drop in aircraft orders -- Boeing (BA) reported only 52 aircraft orders in August compared to 101 in July -- should more-than-offset the auto gains.

Excluding transportation, durable goods orders increased 1.0% in July after increasing 4.2% in June. The consensus expects these orders increased 0.2% in August.

Every regional Federal Reserve manufacturing survey showed a sharp deterioration in new orders growth in August. Meanwhile, the national ISM Manufacturing New Orders Index fell to 51.7, which was the lowest reading since May 2013. These reports suggest that orders outside of transportation were very weak.

1:35 pm:

[BRIEFING.COM] The major U.S. indices remain under heavy pressure following a notable selloff in Europe.

A look inside the Dow Jones Industrial Average shows United Technologies (UTX 87.86, -3.69), Goldman Sachs (GS 178.09, -5.26), and Boeing (BA 132.74, -3.28) are underperforming. United Tech and Boeing are lower alongside industrial peers, one of the worst performing sectors today, while Goldman is lower after CEO Lloyd Blankfein disclosed in a letter to colleagues and shareholders he has been diagnosed with a 'highly curable' form of lymphoma.

Conversely, Dupont (DD 48.00, -0.24) is the best-performing Dow component after being upgraded to Buy this morning by Citigroup
Related Quotes

With today's slide, the DJIA is now down 1.8% this month, and almost 9% this year.

Elsewhere, the $26 bln 2-year note auction at the top of the hour drew a high yield of 0.699% on a bid to cover of 3.27.

1:00 pm:

[BRIEFING.COM] The major averages trade not far above their lows at midday with the S&P 500 down 1.8% while the Nasdaq Composite (-2.2%) underperforms.

Equity indices gapped lower at the start of the session, responding to the early-morning weakness observed in European markets and U.S. futures. That weakness was brought on by continued concerns about economic growth in China while heavy selling in European automaker shares added to the selling pressure. As a result, Germany's DAX tumbled 3.9% with Volkswagen sinking 19.8% to extend this week's loss to 34.7% after announcing it will establish a EUR6.50 billion reserve in anticipation of costs associated with the Department of Justice probe into the company's diesel engines.

Once the New York session began, stocks retreated with cyclical sectors pacing the move. Energy (-1.2%) and materials (-2.5%) were at the forefront of the early selling, but the energy sector has climbed to the top of the leaderboard even though crude oil remains lower by 2.7% at $45.68/bbl.

As for materials, the sector has been pressured by miners as persistent softness in commodity prices invites continued concerns about China's economic growth prospects. BHP Billiton (BHP 32.69, -1.46) is lower by 4.3% while the broader Market Vectors Gold Miners ETF (GDX 13.52, -0.48) has given up 3.4%.

Similar to the materials sector, heavily-weighted groups like financials (-1.9%), consumer discretionary (-1.9%), industrials (-2.0%), and technology (-2.2%) underperform while health care (-1.6%) has been able to stay ahead of the broader market.

To be sure, the slight outperformance in the health care sector is no thanks to biotechnology as the high-beta group struggles for the second day in a row with the iShares Nasdaq Biotechnology ETF (IBB 330.74, -9.73) down 2.9%, extending this week's decline to 7.4%.

Today's retreat in stocks has been a supportive factor for the bond market, pressuring the 10-yr yield eight basis points to 2.13%.

Economic data released today was limited to the FHFA Housing Price Index for July, which rose 0.6% to follow last month's 0.2% uptick.

12:30 pm:

[BRIEFING.COM] Recent action saw the major averages inch up off their lows, but the S&P 500 (-1.5%) remains nearly 30 points below its flat line.

For the time being, top-weighted cyclical sectors like financials (-1.6%), industrials (-1.7%), and technology (-1.9%) continue trading behind the broader market, which could get in the way of the rebound. To be fair, another influential sector-health care (-1.3%)-trades ahead of the broader market, but that outperformance has been offset by losses among other large sectors.

With stocks under pressure, participants have shown demand for volatility protection, sending the CBOE Volatility Index (VIX 22.96, +2.82) into the 23.0% area.

12:00 pm:

[BRIEFING.COM] The major averages remain pinned to their lows with the S&P 500 down 1.6%, which puts the benchmark index back at levels last seen during the second week of September.

For the most part, investors have employed caution today, which has kept the market near session lows. For instance, the S&P 500 notched its low shortly before 11:00 ET and has traded within a few points of that level since then.

The materials sector (-2.4%) has traded behind other groups since the start while another commodity-linked sector-energy-has narrowed its loss to 0.9% after starting among the laggards. The sector has trimmed its loss even though crude oil remains lower by 2.5% at $45.77/bbl.

11:30 am:

[BRIEFING.COM] Equity indices remain near their lowest levels of the day with the Nasdaq Composite (-2.0%) trading behind the S&P 500 (-1.6%).

The biotech group pressured the Nasdaq Composite yesterday and the high-beta group is seeing its second consecutive day of relative weakness. The iShares Nasdaq Biotechnology ETF (IBB 330.45, -10.02) has surrendered 3.0% today, extending this week's loss to 7.4%. For its part, the health care sector is lower by 1.6% today and down 3.0% week-to-date.

Elsewhere, Treasuries sit on their best levels of the day with the 10-yr yield down seven basis points at 2.14%.

10:55 am:

[BRIEFING.COM] Equity indices have slipped to new lows in recent going with the S&P 500 now down 1.6%.

The benchmark index began the trading day under pressure and has faced continued selling through the first 90 minutes of the trading day. The broad-based weakness has kept dip-buyers on the sidelines as the six cyclical sectors trade with losses between 1.1% (energy) and 2.2% (materials).

Interestingly, the energy sector trades ahead of its peers even though crude oil has tumbled 3.1% to $45.52/bbl. Elsewhere among commodities, gold futures are lower by 0.9% at $1122.30/ozt while copper futures have plunged 4.0% to $2.29/lb, which has weighed on mining shares. Freeport-McMoRan (FCX 10.00, -0.54) has given up 5.1% while the broader Market Vectors Gold Miners ETF (GDX 13.55, -0.45) is lower by 3.3%.

10:30 am: [BRIEFING.COM]

The broad commodities set is being pressured by negative headlines this morning, citing the Asian Development Bank as having lowered emerging market growth forecasts for 2015 and 2016, largely on weakened prospects out of China and India.
The report cited ADB as calling for Chinese GDP of 6.8% in 2015 (vs. 7.2% prior), while India is expected to grow 7.4% (down from 7.8% prior)
The dollar index is currently trading moderately positive- up from flat overnight- following continued growth of negative sentiment toward the Euro and Yen.
As the market is seeming to focus on recent weakness in the Eurozone and Japan, the dollar has traded notably higher, which has in turn put peripheral pressure on crude, copper and precious metals. The index is now +0.4% to 96.40
Both WTI and copper trended negative overnight, and continue to see strong, sustained losses amidst a stronger dollar and as the market re-focuses on potential global demand slack. Copper is now near its LoD at -4.2% to $2.29/lb, while crude is down 2.5% to $45.79/barrel
Natural gas has bounced back from yesterday's losses to trade modestly positive, despite continued calls for warming near-term national weather patterns
Nat gas is now +0.4% to $2.58/MMBtu
Gold and silver are both seeing dollar-driven sell-offs this morning, with gold -1% to $1,121.80/oz and silver -3.2% to $14.73/oz

9:55 am:

[BRIEFING.COM] The S&P 500 remains lower by 1.3% with all ten sectors holding losses.

As highlighted in our opening comment, cyclical sectors have been at the forefront of today's retreat in equities. The materials sector (-1.7%) sits at the bottom of the leaderboard while heavily-weighted technology (-1.5%) and industrials (-1.5%) have also contributed to the early weakness.

The early selling has been far-reaching with just 330 NYSE listings trading in the green while nearly 2500 index components trade in negative territory.

Treasuries have held their ground since the opening bell with the 10-yr yield remaining lower by five basis points at 2.15%.

9:40 am:

[BRIEFING.COM] As expected, the major averages began the trading day well below their flat lines. The S&P 500 trades lower by 1.2% with eight sectors showing early losses in excess of 1.0%.

Commodity-related energy (-1.7%) and materials (-1.7%) have paced the early retreat while top-weighted financials (-1.3%), industrials (-1.6%), and technology (-1.5%) trade just ahead.

With stocks under pressure, Treasuries continue holding gains, keeping the 10-yr yield lower by five basis points at 2.15%.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: -27.30. Nasdaq futures vs fair value: -68.60.

The stock market is on track for a sharply lower open as S&P 500 futures trade 27 points below fair value. Index futures held their ground through the Asian session, but they began retreating shortly before the start of the European session.

The retreat in futures has continued alongside European equities with China-related growth concerns contributing to the risk aversion. To that point, UK mining shares have struggled amid a pullback in commodities with Glencore sliding below GPB100/share after starting the year near GBP300/share. Elsewhere, carmakers have also struggled mightily. Volkswagen is enduring its second consecutive plunge, trading lower by 19.0% today to extend this week's loss to nearly 34.0%. Earlier, the company announced it will establish a EUR6.5 billion reserve in order to deal with the costs associated with the Department of Justice probe into the company's diesel engines. Volkswagen's struggles have weighed on its peers as BMW, Peugeot, and Renault show losses between 5.5% and 9.0%.

Treasuries have benefited from the weakness in stocks. The 10-yr note sits near its high with the benchmark yield down almost five basis points at 2.15%.

The FHFA Housing Price Index for July will be released at 10:00 ET.

8:59 am: [BRIEFING.COM] S&P futures vs fair value: -27.40. Nasdaq futures vs fair value: -67.70.

The S&P 500 futures trade 27 points below fair value.

Trading action was mixed in Asian-Pacific markets on Tuesday. Volumes remained on the lighter side as Japan's market remained closed for a national holiday. China's Shanghai Composite (+0.9%) scored another winning session, although it came under selling pressure in the final hour that cut the Composite's earlier gain in half.

In economic data:
Australia's Q2 House Price Index +4.7% quarter-over-quarter (expected +2.5%; prior +1.6%)

------

Japan's Nikkei: closed for national holiday
Hong Kong's Hang Seng increased 0.2% after being up as much as 2.1% in the final hour of trading. A late rush of selling interest, which lacked a specific news catalyst, undid the rally effort. Li & Fung (+10.4%), China Mobile (+4.1%), and Kunlun Energy (+2.8%) topped the list of winners while Galaxy Entertainment Group (-3.4%), Cheung Kong Property Holdings (-2.7%), and Sands China (-2.3%) brought up the rear. Out of the 50 index members, 33 ended higher, 14 finished lower, and 3 were unchanged.
China's Shanghai Composite increased 0.9%, but saw its gains cuts in half in the final hour when selling pressure emerged. Brokerages were reportedly among the better performers following reports that Shanghai and London are exploring the possibility of a market link-up. The late selling activity was attributed to angst ahead of Wednesday's release of the flash Caixin PMI report for September.

Major European indices trade lower across the board with Germany's DAX (-3.2%) and France's CAC (-3.4%) trailing the region.

Economic data was limited:
UK's August Public Sector Net Borrowing GBP11.31 billion (expected GBP8.65 billion; prior -GBP70 million) while September CBI Industrial Trends Orders -7 (expected 0; prior -1)
Swiss August Trade Surplus narrowed to CHF2.87 billion from CHF3.58 billion (expected surplus of CHF2.97 billion)

------

Germany's DAX has given up 3.2% with Volkswagen down nearly 20.0% after announcing it will establish a EUR6.5 billion reserve in order to deal with the costs associated with the Department of Justice probe into the company's diesel engines. Peers Daimler and BMW are both down near 5.0% while Lanxess is the lone advancer, trading higher by 3.9%.
In France, the CAC is lower by 3.4% with all 40 components in the red. Automakers Peugeot and Renault lead the slide with losses close to 6.5% apiece while Credit Agricole and Societe Generale are down 3.0% and 4.0%, respectively.
UK's FTSE trades down 2.4% with all but two components in the red. Glencore has tumbled 12.7% amid weakness in commodity prices. Other miners have followed suit with Anglo American, Antofagasta, and BHP Billiton down between 4.4% and 7.5%. On the upside, RSA Insurance has added 1.4% while Smith & Nephew hovers juts above its flat line.

8:26 am: [BRIEFING.COM] S&P futures vs fair value: -25.80. Nasdaq futures vs fair value: -65.90.

Equity futures have ticked up off their worst levels of the morning, but they remain much closer to their lows than their highs at this time.

Continued growth concerns surrounding China have contributed to the weakness while Volkswagen is facing its second day of significant selling, trading lower by nearly 20.0% in Frankfurt. The automaker is now down nearly 35.0% for the week after announcing plans to establish a EUR6.50 billion reserve in order to deal with the costs associated with the Department of Justice probe into the company's diesel engines.

With European stocks and U.S. futures on the defensive, Germany's 10-yr bund has rallied to lower its yield seven basis points to 0.62 while the U.S. 10-yr note trades a bit below its high with the benchmark yield down four basis points at 2.16%.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -21.60. Nasdaq futures vs fair value: -53.40.

U.S. equity futures trade near their pre-market lows after sliding alongside markets in Europe. At this juncture, the S&P 500 futures trade 22 points below fair value after hitting their lows within the past 90 minutes.

The retreat in European equities and U.S. futures has lured some money into the Treasury market, sending the 10-yr yield lower by three basis points to 2.17%.

Things will be very quiet on the economic front today with data limited to the 10:00 ET release of the FHFA Housing Price Index for July.

In U.S. corporate news of note:

General Mills (GIS 57.78, +0.99): +1.7% in reaction to above-consensus earnings on light revenue.
Red Hat (RHT 72.80, +0.08): +0.1% after beating estimates and boosting its guidance.
Darden Restaurants (DRI 71.00, +0.73): +1.0% after beating bottom-line estimates and raising its fiscal-year 2016 earnings guidance above analyst estimates.

Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite +0.9%, Hong Kong's Hang Seng +0.2%, and Japan's Nikkei was closed for a Bridge Holiday ahead of tomorrow's Autumn Equinox
In economic data:
Australia's Q2 House Price Index +4.7% quarter-over-quarter (expected +2.5%; prior +1.6%)
In news:
Australia's better than expected house price index had little impact on the Australian dollar as the Aussie ticked up briefly before sliding to a one-week low against the dollar (0.7085)

Major European indices trade lower across the board. UK's FTSE -2.2%, Germany's DAX -2.8%, and France's CAC -3.0%. Elsewhere, Italy's MIB -2.8% and Spain's IBEX -2.7%
Economic data was limited:
UK's August Public Sector Net Borrowing GBP11.31 billion (expected GBP8.65 billion; prior -GBP70 million) while September CBI Industrial Trends Orders -7 (expected 0; prior -1)
Swiss August Trade Surplus narrowed to CHF2.87 billion from CHF3.58 billion (expected surplus of CHF2.97 billion)
Among news of note:
European equities have faced heavy selling with Volkswagen enduring its second consecutive plunge. The stock trades lower by 19.3% today, extending this week's loss to 34.4%

5:49 am: [BRIEFING.COM] S&P futures vs fair value: -22.30. Nasdaq futures vs fair value: -52.30.

5:49 am: [BRIEFING.COM] Nikkei...Holiday......... Hang Seng...21796.58...+39.70...+0.20%.

5:49 am: [BRIEFING.COM] FTSE...5983.39...-125.30...-2.10%. DAX...9740.05...-208.50...-2.10%.

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

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr