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 Post subject: October 5th Monday Trade Results - Profit $1125.00
PostPosted: Tue Oct 06, 2015 5:37 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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100515-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1125.00.png [ 94.51 KiB | Viewed 305 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 @ $1125.00 dollars or +22.50 points, Light Crude Oil CL ($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 @ $1125.00 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=148&t=2187

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


4:05 pm: [BRIEFING.COM] The stock market enjoyed an upbeat start to the trading week with the S&P 500 returning near its rebound high from the middle of September. The benchmark index climbed 1.8% while the Nasdaq Composite (+1.6%) followed not far behind.

The Monday buying frenzy was not fueled by quarterly earnings as the first portion of the reporting period is still two weeks away. Instead, the advance was a continuation of the Friday rally, which was predicated on the belief that a disappointing September Nonfarm Payrolls report would prevent the Federal Reserve from raising rates at the October meeting. In that same vein, the bad-is-good dynamic appeared to be on display overseas as Japan's Nikkei (+1.6%), Germany's DAX (+2.7%), and France's CAC (+3.5%) vaulted higher even though Services PMI readings in Japan (51.4; prior 53.7) and the eurozone (53.7; expected 54.0) disappointed.

With global investors showing hope for more monetary stimulus, the spotlight will be on the Bank of Japan considering the central bank will begin a two-day policy meeting on Tuesday. Last week, Bloomberg reported that the BoJ is not looking to increase the size of its quantitative and qualitative easing program, but some investors remain hopeful for a surprise to the contrary. The yen retreated about 0.5% against the dollar today, sending the dollar/yen pair up to 120.50 after spending the bulk of the past two weeks near 120.00.

All ten sectors finished the day in positive territory, but the health care space (+0.3%) struggled to stay in the green as biotechnology weighed. The iShares Nasdaq Biotechnology ETF (IBB 313.20, -2.33) was in for another volatile session, surrendering an early gain to end lower by 0.7% after being down more than 2.0%. That being said, biotechnology's underperformance only left its mark on the Nasdaq as the tech-heavy index lagged throughout the day. Meanwhile, the S&P 500 overcame that weakness with ease.

Cyclical sectors were at the forefront of the Monday advance with energy (+3.0%) holding the lead throughout the session. The sector rallied behind crude oil early on and continued its charge into the afternoon even as WTI crude retreated from its best level of the day, ending higher by 1.6% at $46.26/bbl.

Elsewhere, top-weighted technology (+1.9%) and financials (+2.1%) spent the day just ahead of the broader market while the industrial sector (+2.8%) was nearly as strong as energy. Transport stocks went along for the ride with the Dow Jones Transportation Average spiking 2.3% to register its fifth consecutive advance.

Also of note, the technology sector managed to spend the day ahead of the broader market even though Apple (AAPL 110.78, +0.40) struggled to keep pace. The sector heavyweight underperformed after Digitimes reported that new iPhone sales in Japan have not kept up with demand observed after the previous release.

Today's rally in equities coincided with daylong selling in the Treasury market that pushed the 10-yr note below Friday's low. As a result, the benchmark yield rose seven basis points to 2.06%.

Trading volume was well above average as more than a billion shares changed hands at the NYSE floor.

Economic data was limited to the ISM Services Index, which declined to 56.9 in September from 59.0 while the Briefing.com consensus expected a drop to 58.0. Although many of the sub-categories in the index showed sharp declines in September, there wasn't a prevalence of contractions like those that plagued the ISM Manufacturing Index. The services sector remains much more robust than the manufacturing sector.

Tomorrow, the August Trade Balance will be reported at 8:30 ET (Briefing.com consensus -$44.50 billion).

Nasdaq Composite +1.0% YTD
S&P 500 -3.5% YTD
Russell 2000 -5.3% YTD
Dow Jones Industrial Average -5.9% YTD

3:35 pm: [BRIEFING.COM]

Oil prices were a big story today after more catalysts hit the commodity.
Oil prices rose today after Russia said it was ready to talk about global oil markets if an OPEC/non-OPEC meeting were to arise, among other catalysts.
Separately, Russia airstrikes in Syria are providing more tension on geopolitical issues.
By the end of today's floor trading session, Nov crude oil rose +1.6% to $46.28/barrel.
In other energy, Nov natural gas gained one cent to finish at $2.46/MMBtu.
Some metals lost some steam in afternoon activity, but still closed a little higher.
Silver came back, however, and ended the day near today's high, finishing +0.48 at $15.72/oz.
Dec gold ended +$1.20 to $1137.90/oz. Dec copper, meanwhile, ended +$0.03 at $2.36/lb

3:00 pm:

[BRIEFING.COM] The major averages have continued their climb going into the final hour with the S&P 500 up 1.8%. Thanks to today's advance, the benchmark index finds itself near its rebound high from mid-September.

Today's advance in U.S. equities has coincided with similar gains in Asia and Europe forged on hopes that global central banks will maintain their dovish ways in light of weakening economic data across the globe. The 'bad-is-good' mindset has been prevalent since quantitative easing entered the daily vernacular of market observers nearly eight years ago, and it is on display once again today.

The Federal Open Market Committee does not meet for another three weeks, but on Wednesday, investors will receive the latest policy statement from the Bank of Japan and there is growing hope that the statement will call for more monetary stimulus. On a related note, the dollar/yen pair has hovered near 120.00 over the past couple weeks, but today's yen weakness has boosted the exchange rate to 120.50.

2:25 pm:

[BRIEFING.COM] The major averages have climbed to new highs for the day with the S&P 500 extending its gain to 1.8%. The benchmark index has enjoyed support from just about every area of the market other than health care (+0.1%). That being said, the countercyclical sector has returned into the green not long ago thanks to strength in the broader market.

To that point, five sectors hold gains of 2.0% or more with energy (+3.0%), industrials (+2.7%), and financials (+2.0%) among the notable standouts.

With 90 minutes remaining in the session, the bullish tone remains uninhibited with eight NYSE listings trading in the green for each decliner.

1:55 pm:

[BRIEFING.COM] The major averages trade near their best levels of the session.

The ISM Non-Manufacturing Index suffered a larger-than-expected pullback in September.

The ISM Non-manufacturing Index declined to 56.9 in September from 59.0 in October. The Briefing.com Consensus expected the ISM Non-Manufacturing Index to decline to 58.0.

Although many of the sub-categories in the index showed sharp declines in September, there wasn't a prevalence of contractions like those that plagued the ISM Manufacturing Index. The services sector remains much more robust and than the manufacturing sector.

Business activities slowed as the related index fell to 60.2 in September from 63.9 in August. Growth in both new (56.7 from 63.4) and unfilled (54.5 from 56.5) orders slowed in September. Neither index, however, is in immediate danger of contracting.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to push higher, setting new session highs in recent trade.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 68.83, +3.13), General Electric (GE 16.61, +1.14), and Cisco (CSCO 26.82, +1.06) are outperforming. Caterpillar is the best performing Dow component amid sector strength in industrials, nearly the best performing sector in today's trade. GE shares are seeing strong gains on a number of factors, most notably the disclosure by activist Firm Trian Fund Management, headed by Nelson Peltz, of a $2.5 bln stake. Trian says it has periodically engaged in informal dialogue with GE's management team over the past few years, and believes shares are undervalued and underappreciated by the market. GE issued a statement saying it welcomed the investment and that it enjoys productive, collaborative relationships with its shareholders. Separately this morning, GE announced it would sell its fixed-wing Corporate Aircraft financing portfolio in the Americas to Global Jet Capital, as it continues to pursue its path to be a pure-industrial play titan.
Related Quotes

Conversely, Nike (NKE 124.67, -0.54) is the worst performing Dow component as shares see some selling pressure following last week's surge on earnings, new all-time high hit earlier in today's session.

With today's strong gains, the DJIA is now up 2.7% in October.

12:55 pm:

[BRIEFING.COM] The stock market has begun the new trading week on an upbeat note with the Dow (+1.4%), Nasdaq (+1.0%), and S&P 500 (+1.4%) all holding solid gains at midday.

Equity indices spiked out of the gate, responding to overnight strength in the futures market. Interestingly, global stock markets rocketed higher on Monday despite the release of disappointing Services PMI readings in Japan (51.4; prior 53.7) and the eurozone (53.7; expected 54.0), suggesting stimulus hopes were likely behind those rallies. Accordingly, the euro (1.1182) and the yen (120.47) have weakened, allowing the Dollar Index (96.27, +0.22) to climb 0.2%.

All ten sectors charged out of the gate, but the health care sector (-0.5%) was quick to surrender its early gain due to continued volatility in biotechnology. At this juncture, the iShares Nasdaq Biotechnology ETF (IBB 310.17, -5.36) is lower by 1.7% after showing a 1.0%+ gain at the start.

The underperformance in biotechnology has kept the Nasdaq a bit behind the broader market, but the technology sector (+1.6%) has offset some of that weakness. Most large cap tech names sport solid gains while Apple (AAPL 110.00, -0.38) is lower by 0.4% after Digitimes reported that new iPhone sales in Japan have not kept up with demand observed after the previous release.

Elsewhere among cyclical sectors, financials (+1.8%) and industrials (+2.3%) have shown relative strength since the start while energy (+3.0%) has held the lead through the first half. The economically-sensitive sector has rallied behind crude oil, which has spiked 2.6% to $46.70/bbl.

Today's advance in equities has been accompanied by a steady slide in Treasuries. As a result, the 10-yr note has nearly erased its entire gain from Friday with its yield currently higher by five basis points at 2.04%.

Economic data was limited to the ISM Services Index, which declined to 56.9 in September from 59.0 while the Briefing.com consensus expected a drop to 58.0. Although many of the sub-categories in the index showed sharp declines in September, there wasn't a prevalence of contractions like those that plagued the ISM Manufacturing Index. The services sector remains much more robust than the manufacturing sector.

12:30 pm:

[BRIEFING.COM] Recent action saw the S&P 500 (+1.4%) extend to a new session high despite the continued weakness in biotechnology. As a result, the health care sector (-0.4%) is the only group trading in the red while eight of the remaining nine sectors show gains of 1.0% or more.

The energy sector (+2.8%) has held the lead since the start, thanks to a steady charge higher in the oil market. Currently, WTI crude is higher by 2.4% at $46.66/bbl. It will be interesting to see whether oil holds its gain considering the Dollar Index (96.25, +0.20) has recently rallied to a new high, which could put some pressure on dollar-denominated commodities.

Also of note, Treasuries have continued their slow retreat to erase the bulk of their advance from Friday. The 10-yr yield is higher by four basis points at 2.03% at this juncture.

11:55 am:

[BRIEFING.COM] The S&P 500 (+1.2%) remains near its best level of the session thanks to relative strength in most cyclical sectors; however, the Nasdaq Composite (+0.8%) has pulled back from its high due to continued weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 309.43, -5.93) is now lower by 1.9% while the broader health care sector trades down 0.5%.

Biotechnology's continued struggle remains concealed by the strength in most other areas of the market. Another high-beta group-chipmakers-remains strong with the PHLX Semiconductor Index (+1.7%) contributing to the relative strength in the technology sector (+1.4%).

Elsewhere, Treasuries have continued their slow retreat with the 10-yr yield now up four basis points at 2.03%.

11:25 am:

[BRIEFING.COM] Equity indices have returned to their highs as cyclical sectors continue showing relative strength. The energy sector (+2.0%) remains well ahead of its peers while top-weighted technology (+1.4%), financials (+1.5%), and industrials (+1.8%) also trade ahead of the broader market.

The solid gains among the largest sectors have overshadowed the underperformance in the health care sector (unch), which has returned to the unchanged level due to losses in the biotech space. The iShares Nasdaq Biotechnology ETF (IBB 313.55, -1.98) trades down 0.6% fresh off a roller-coaster week. The ETF fell nearly 8.0% last Monday, but recovered that loss over the remainder of the week, ending higher by 1.7%.

With biotechnology trading well behind the broader market, investors will keep a close eye on the industry group knowing that it could serve as an early indicator of the near-term direction of the market. Accordingly, if the biotech ETF continues marching lower into the afternoon, it would be hard for the market to ignore that divergence.

10:55 am:

[BRIEFING.COM] The major averages continue cruising near their opening highs with the S&P 500 (+1.1%) trading just ahead of the Nasdaq Composite (+0.9%).

Most cyclical sectors have maintained their early gains while the countercyclical health care sector has returned to its flat line amid renewed weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 314.00, -1.53) is now down 0.5% after being up more than 1.0% immediately after the session began. The pullback in the high-beta ETF helps explain the relative weakness in the Nasdaq Composite.

As for large cap technology names, the likes of Alphabet (GOOGL 665.11, +8.12), Intel (INTC 31.07, +0.56), and Microsoft (MSFT 46.37, +0.80) sport gains between 1.2% and 1.8% while Apple (AAPL 109.54, -0.84) has given up 0.8% after Digitimes reported that new iPhone sales in Japan have not kept up with demand observed during the previous release.

10:35 am: [BRIEFING.COM]

Oil prices are higher this morning after Russia said it was ready to talk about global oil markets if an OPEC/non-OPEC meeting were to arise, among other catalysts
Other catalysts moving oil include: Geopolitical tension in Syria, Rig count, including Friday's bullish figures, Reduced oil sales prices to Asia and U.S., over the weekend, Refinery maintenance, Hurricane Joaquin and the current overall level of oversupply
Natural gas picked up steam just after 9am ET and are now +1.14% at $2.48/MMBtu.
Gold and silver futures are pulling back off of today's HoD, after climbing higher all morning
Dec gold is now -0.1% at $1135.80/oz, while Dec silver is +2.6% at $15.66/oz
In industrial metals, Dec copper futures are currently +1.6% at $2.36/lb

10:00 am:

[BRIEFING.COM] The S&P 500 has extended its gain to 1.2% while the Nasdaq (+0.9%) follows a bit behind.

Just reported, the ISM Services Index for September fell to 56.9 from 59.0 while the Briefing.com consensus expected a downtick to 58.0.

9:40 am:

[BRIEFING.COM] The major averages have charged out of the gate with the S&P 500 trading higher by 1.1% just minutes after the start of the Monday session.

All ten sectors sport early gains with cyclical groups showing relative strength. The energy sector (+2.2%) is an early leader thanks to a 2.5% spike in crude oil, which has clawed its way to $46.70/bbl. Elsewhere among growth-sensitive groups, financials (+1.0%) trade in line with the broader market while the technology sector (+0.7%) follows a bit behind.

Also of note, the health care sector (+0.8%) has held up relatively well through the opening minutes with biotechnology showing relative strength. The iShares Nasdaq Biotechnology ETF (IBB 319.60, +4.07) has jumped 1.2% and is likely to remain in focus throughout the trading day.

The ISM Services Index for September (Briefing.com consensus 58.0) will be released at 10:00 ET.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: +14.30. Nasdaq futures vs fair value: +31.00.

The stock market is on track for an upbeat start to the trading week with S&P 500 futures hovering 14 points above fair value after climbing steadily throughout the night.

The overnight advance has occurred despite the release of some disappointing economic data in Japan (September Services PMI 51.4; prior 53.7) and Europe (Eurozone September 53.7; expected 54.0), suggesting investors remain hopeful that some additional stimulus will emerge from the Bank of Japan or the European Central Bank. To that point, the Bank of Japan will announce the results of its latest two-day policy meeting on Wednesday.

Despite the sharp gains in index futures, the pre-market session has been very quiet. Treasuries have inched lower, sending the 10-yr yield higher by two basis points to 2.01%.

Investors have not received any economic data this morning, but the ISM Services Index for September (Briefing.com consensus 58.0) will be released at 10:00 ET.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +32.00.

The S&P 500 futures trade 16 points above fair value.

The new week began on a bullish note for markets in the Asia-Pacific region, which traded in rally mode on the heels of Wall Street's strong showing on Friday. The gains flowed primarily from an expectation that the weak employment report out of the U.S. will keep the Federal Reserve on hold longer than anticipated. Indonesia (+3.2%) was the biggest gainer on Monday followed by India (+2.1%) and Singapore (+2.1%) as emerging markets took heart in the idea the Federal Reserve won't be raising interest rates soon.

Economic data was limited:
Japan's August Average Cash Earnings +0.5% year-over-year (expected +0.7%; prior +0.9%) and September Nikkei Services PMI 51.4 (prior 53.7)
Australia's September AIG Services Index 52.3 (prior 55.6) and September MI Inflation Gauge +0.3% (prior +0.1%)

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Japan's Nikkei increased 1.6%, bolstered by gains in all sectors. The biggest gainers were the health care (+2.2%) and industrials (+2.0%) sectors. Japan Steel Works (+5.8%), Sumco Corp (+5.4%), and Mitsubishi Corp (+5.2%) led all winners while UNY Group Holdings (-2.4%), Mitsubishi Motors (-2.2%), and Unitika (-1.7%) paced the losers. Out of the 225 index members, 195 ended higher, 24 finished lower, and 6 were unchanged.
Hong Kong's Hang Seng increased 1.6%, taking its cue primarily from Wall Street as the mainland market remained closed for holiday. Investor sentiment was boosted by the thought that the Federal Reserve won't be raising interest rates in the near term. Tingyi Cayman Islands Holding Corp (+5.6%), Galaxy Entertainment (+5.3%), and Belle International Holdings (+5.0%) topped the list of winners. Out of the 50 index members, only three -- China Resources Enterprise (-3.3%), Want Want China Holdings (-0.5%), and China Unicom Hong Kong (-0.3%) -- finished lower.
China's Shanghai Composite: closed for holiday (National Day)

Major European indices trade higher across the board with France's CAC (+3.4%) showing relative strength.

Economic data was plentiful:
Eurozone September Services PMI 53.7 (expected 54.0; prior 54.0) and August Retail Sales 0.0% month-over-month (expected -0.1%; prior 0.6%); +2.3% year-over-year (consensus 1.8%; last 3.0%). Also of note October Sentix Investor Confidence 11.7 (expected 11.6; previous 13.6)
Germany's September Services PMI 54.1 (consensus 54.3; previous 54.3)
UK's September Services PMI 53.3 (expected 56.0; last 55.6)
France's September Services PMI 51.9 (consensus 51.2; prior 51.2)
Italy's September Services PMI 53.3 (expected 54.0; previous 54.6)
Spain's September Services PMI 55.1 (consensus 58.5; prior 59.6)

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UK's FTSE has spiked 2.2% with all 101 components taking part in the rally. Glencore leads the way with a 12.6% surge after the Telegraph reported the company will entertain takeover offers. Other miners also appear among the leaders with Anglo American and Rio Tinto up 3.0% and 2.5%, respectively.
Germany's DAX has climbed 2.6% with RWE in the lead. The utility stock has soared 7.1% while Deutsche Bank follows with a 5.0% gain. On the downside, K+S has plunged 25.7% amid waning takeover interest while Volkswagen trades down 1.6%.
France's CAC trades up 3.4% with energy-related names in the lead. Technip and Total trade higher by 6.4% and 4.4%, respectively. As for financials, BNP Paribas, Credit Agricole, and Societe Generale show gains between 2.1% and 4.0%.

8:25 am: [BRIEFING.COM] S&P futures vs fair value: +14.00. Nasdaq futures vs fair value: +33.30.

U.S. equity futures continue holding solid pre-market gains with S&P 500 futures trading 14 points above fair value.

The overnight advance in futures has coincided with strength in global equity markets; however, that strength has come despite the release of some disappointing economic data, suggesting investors are showing hope for additional stimulus from the Bank of Japan or the European Central Bank.

Overnight, Japan's Nikkei Services PMI for September dropped to 51.4 from 53.7 while the Eurozone Services PMI has pulled back to 53.7 from 54.0 while no change was expected. The reaction in the currency market was fairly muted as the dollar/yen pair trades higher by about 30 pips at 120.22 while the euro has added roughly 25 pips against the dollar, climbing to 1.1235.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +39.00.

U.S equity futures hold solid pre-market gains after enjoying a steady overnight climb despite the release of some disappointing economic data in Asia and Europe. The S&P 500 futures hover 16 points above fair value after hitting pre-market highs within the past hour.

Meanwhile, U.S. Treasuries hold slim losses with the 10-yr yield up three basis points at 2.01%.

Today's economic data will be limited to the 10:00 ET release of the ISM Services Index for September (Briefing.com consensus 58.0).

In U.S. corporate news of note:

Tesla (TSLA 249.60, +2.03): +0.8% after reporting Q3 deliveries in line with its guidance.
Potash (POT 21.30, +0.80): +3.9% after the company chose to terminate its pursuit of German competitor K+S Aktiengesellschaft.
Boston Scientific (BSX 17.31, +0.39): +2.3% after Raymond James upgraded the stock to 'Strong Buy' from 'Outperform.'

Reviewing overnight developments:

Asian markets ended higher. Japan's Nikkei +1.6%, Hong Kong's Hang Seng +1.6%, and China's Shanghai Composite remained closed for Golden Week.
Economic data was limited:
Japan's August Average Cash Earnings +0.5% year-over-year (expected +0.7%; prior +0.9%) and September Nikkei Services PMI 51.4 (prior 53.7)
Australia's September AIG Services Index 52.3 (prior 55.6) and September MI Inflation Gauge +0.3% (prior +0.1%)
In news:
The World Bank has lowered its GDP forecast for China to 6.9% from 7.1% and lowered the 2016 forecast to 6.7% from 7.0%

Major European indices trade higher across the board. UK's FTSE +2.1%, Germany's DAX +2.4%, and France's CAC +3.3%. Elsewhere, Italy's MIB +2.6% and Spain's IBEX +3.5%
In economic data:
Eurozone September Services PMI 53.7 (expected 54.0; prior 54.0) and August Retail Sales 0.0% month-over-month (expected -0.1%; prior 0.6%); +2.3% year-over-year (consensus 1.8%; last 3.0%). Also of note October Sentix Investor Confidence 11.7 (expected 11.6; previous 13.6)
Germany's September Services PMI 54.1 (consensus 54.3; previous 54.3)
UK's September Services PMI 53.3 (expected 56.0; last 55.6)
France's September Services PMI 51.9 (consensus 51.2; prior 51.2)
Italy's September Services PMI 53.3 (expected 54.0; previous 54.6)
Spain's September Services PMI 55.1 (consensus 58.5; prior 59.6)
Among news of note:
Glencore has been in focus recently and the stock trades higher by 13.2% in London today after the Telegraph reported the company will entertain takeover offers.

6:12 am: [BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +34.50.

6:12 am: [BRIEFING.COM] Nikkei...18,005.49...+280.40...+1.60%. Hang Seng...21,854.50...+348.40...+1.60%.

6:12 am: [BRIEFING.COM] FTSE...6,250.44...+120.50...+1.90%. DAX...9,763.11...+210.20...+2.20%.

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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