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 Post subject: October 6th Tuesday Trade Results - Profit $4625.00
PostPosted: Wed Oct 07, 2015 1:34 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $4625.00 dollars or +92.50 points, Light Crude Oil CL ($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 @ $4625.00 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=2188

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 Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=274&t=2910 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 endured a shaky session on Tuesday with the Dow Jones Industrial Average (+0.1%) eking out a slim gain while the S&P 500 (-0.4%) and Nasdaq Composite (-0.7%) underperformed throughout the day.

For the second day in a row, the U.S. trading day began after the release of some disappointing economic data overseas. Today, it was Germany's Factory Orders report for August, which showed a 1.8% decline while the market had expected an increase of 0.5%. That being said, European equities were able to register gains after erasing their early losses, but the strength did not carry over the U.S. session as continued weakness in the biotech space kept the broader market under pressure.

Specifically, the iShares Nasdaq Biotechnology ETF (IBB 301.91, -11.29) lost 3.6% after surrendering 0.7% on Monday. On a related note, the health care sector tumbled 2.3% while most other influential sectors also struggled.

Similar to health care, heavily-weighted financials (-0.5%) and consumer discretionary (-0.7%) underperformed throughout the day while another influential group-technology (+0.2%)-climbed ahead of the broader market during afternoon action.

The largest sector by weight received support from the likes of Apple (AAPL 111.31, +0.53), Microsoft (MSFT 46.75, +0.12), and Intel (INTC 31.74, +0.53), but several other large components finished the day in negative territory. High-beta chipmakers struggled in the early going, but the PHLX Semiconductor Index added 0.3% after erasing a 1.5% decline.

Elsewhere among cyclical sectors, energy (+2.2%) and materials (+1.3%) continued their recent show of relative strength, extending their respective week-to-date gains to 5.1% and 4.0%. Commodity prices were behind today's charge as crude oil surged 4.9% to $48.53/bbl with reports suggesting oil traders have taken note of rising tensions in Syria.

Unlike stocks, Treasuries ended the day near their highs after a brief morning appearance in the red. The 10-yr note added a quarter of a point, pressuring its yield two basis points to 2.04%.

Today's participation was ahead of average as more than 950 million shares changed hands at the NYSE floor.

Economic data was limited to the August trade balance, which showed a deficit of $48.30 billion while the Briefing.com consensus expected the deficit to come in at $44.50 billion. The prior month's deficit was revised to $41.80 billion from $41.90 billion.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET while the Consumer Credit report for August will cross the wires at 15:00 ET (Briefing.com consensus $19.50 billion).

Nasdaq Composite +0.3% YTD
S&P 500 -3.8% YTD
Dow Jones Industrial Average -5.8% YTD
Russell 2000 -5.8% YTD

3:35 pm: [BRIEFING.COM]

The dollar index slid lower today, which helped give commodities a boost.
The October World Economic Outlook from the IMF also came out, which played as a catalyst to the commodities space as well.
Oil prices rallied today, settling 4.9% higher at $48.53/barrel and aside from a weak dollar, oil prices got a boost from OPEC comments and output data from the EIA's short-term energy outlook.
EIA estimates that total U.S. crude oil production declined by 120,000 barrels per day (b/d) in September compared with August.
Crude oil production is forecast to decrease through mid-2016 before growth resumes late in 2016.
Projected U.S. crude oil production averages 9.2 million b/d in 2015 and 8.9 million b/d in 2016.
In other enery, Nov nat gas rose 0.4% to $2.47/MMBtu
Precious metals rose, while copper was flat.
Dec gold gained +0.7% at $1146.30/oz, while Dec silver +1.4% at $15.94/oz.

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 0.3% with one hour remaining in the session.

For the second day in a row, the market has had to deal with underperformance in biotechnology. Yesterday, equity indices were able to overcome that weakness with ease, but today has been a different story. The iShares Nasdaq Biotechnology ETF (IBB 301.10, -12.10) enters the final hour of action with a 3.9% decline after being down as much as 6.6% earlier.

Including today's decline, the biotech ETF is now down 4.6% for the week versus a 2.0% week-to-date decline for the health care sector (-2.3%). On the flip side, the remaining nine groups hold week-to-date gains between 0.6% (utilities) and 5.2% (energy).

2:30 pm:

[BRIEFING.COM] Not much change in the market as the Dow (+0.3%) continues defending a modest gain as 19 of its 30 components trade in the green. Meanwhile, the S&P 500 (-0.3%) remains about six points below its unchanged level.

There has been a slight change in today's sector standing as the technology space (+0.4%) now trades ahead of the broader market after showing relative weakness through the first half of the trading day. However, continued weakness in the health care sector (-2.3%) has offset some of the strength in technology.

Elsewhere, Treasuries have maintained narrow ranges just below their highs with the 10-yr yield down two basis points at 2.04%.

1:55 pm:

[BRIEFING.COM] The Nasdaq and S&P 500 remain in negative territory while the Dow Jones Industrial Average continues holding a slim gain.

You can blame your cell phone for the large increase in the trade deficit.

The U.S. trade deficit widened to $48.3 bln in August from a slightly downwardly revised $41.8 bln (from $41.9 bln) in July. The Briefing.com Consensus expected the trade deficit to increase to $44.5 bln.

While the big increase in the trade deficit looks like a clear miss when compared to the consensus forecast, it was actually very much in-line with the $48.0 bln estimate provided in the advance trade of goods report.

As usual, a big increase in the trade deficit can be directly tied to a release of the latest version of the Apple iPhone or Samsung Galaxy cellphone. That held true in August as cell phone imports skyrocketed by $2.1 bln.

Overall, the goods deficit increased to $67.9 bln in August from $61.3 bln in July. The services surplus increased slightly to $19.6 bln from $19.5 bln.

1:30 pm:

[BRIEFING.COM] The major U.S. indices remain mixed as the Nasdaq heavily underperforms the S&P 500 and Dow Jones Industrial Average, weighed down by weakness in health care, biotech names.

A look inside the Dow Jones Industrial Average shows DuPont (DD 56.29, +5.01), Chevron (CVX 86.82, +2.79), and Caterpillar (CAT 70.59, +1.41) are outperforming. DuPont is higher after announcing last night that its Chair and CEO Ellen Kullman would retire on October 16. The company also said it is accelerating its operational redesign cost savings program in light of macro conditions, and lowered its FY15 EPS guidance due to weakness in agricultural markets and the Brazilian Real. Chevron is higher as crude oil jumps over 4%, and the energy sector as a whole outperforms. Chevron also announced a partnership with Visa to launch its mobile payments program at Chevron pumps later this year at select stations. Caterpillar is building on gains from yesterday as traders speculate the beaten down industrial giant could attract an activist investor.
Related Quotes

Conversely, UnitedHealth Group (UNH 115.57, -4.08) is the worst-performing Dow component as health-care names remain under heavy pressure, extending recent weakness.

For the week, the DJIA is up 2.1% and now up nearly 3.3% in October

12:55 pm:

[BRIEFING.COM] The stock market has struggled through the first half of the Tuesday session with the Dow Jones Industrial Average (unch) hovering near its flat line while the S&P 500 (-0.6%) and Nasdaq Composite (-1.2%) trade deeper in the red amid weakness in biotechnology.

Equity indices began the trading day near their flat lines, but the Nasdaq was quick to slip behind the broader market due to relative weakness in high-beta biotechnology and large cap technology names. Most notably, the iShares Nasdaq Biotechnology ETF (IBB 295.85, -17.40) has surrendered 5.6% so far today after failing to take part in yesterday's broad rally. Meanwhile, the broader health care sector trades lower by 3.1%.

Over in the technology space (-0.2%), the top-weighted sector has spent the first half ahead of the broader market, but the likes of Alphabet (GOOGL 664.17, -7.51), Qualcomm (QCOM 55.96, -0.26), and Facebook (FB 92.47, -1.54) have struggled through the first half, showing losses between 0.5% and 1.7% at this juncture.

Similar to technology, heavily-weighted consumer discretionary (-1.0%) and financials (-0.4%) trade behind the broader market while energy (+2.1%) and materials (+1.2%) outperform for the second consecutive day. Thanks to today's spike, the energy sector is now up 4.9% for the week while crude oil has jumped 4.4% to $48.27/bbl amid rising tensions in Syria.

Elsewhere, Treasuries hovered in the red this morning, but the 10-yr note has climbed to a new high, pressuring its yield one basis point to 2.04%.

Today's economic data was limited to the August trade balance, which showed a deficit of $48.30 billion while the Briefing.com consensus expected the deficit to come in at $44.50 billion. The prior month's deficit was revised to $41.80 billion from $41.90 billion.

12:25 pm:

[BRIEFING.COM] Not much change in the market as the Nasdaq Composite (-1.1%) remains well behind the S&P 500 (-0.5%) due to relative weakness in biotechnology and technology.

Interestingly, the biotech group struggled yesterday, but broad-based strength in just about every other area of the market overshadowed the Monday weakness in biotech. Today, however, the iShares Nasdaq Biotechnology ETF (IBB 296.50, -16.70) has surrendered 5.3%, which has not gone unnoticed by the market.

On the upside, energy (+2.1%) and materials (+1.6%) remain ahead while crude oil has extended its gain to 4.1% at $48.17/bbl.

11:55 am:

[BRIEFING.COM] Recent action saw the major averages slip to new session lows with the S&P 500 now down 0.5% while the Nasdaq Composite (-1.2%) continues showing relative weakness.

As mentioned earlier, biotechnology has kept the Nasdaq behind the broader market. Meanwhile, large cap tech names have held up better than biotechnology, but influential sector components like Apple (AAPL 110.59, -0.19), Alphabet (GOOGL 667.42, -4.26), and Facebook (FB 92.93, -1.07) trade with losses between 0.1% and 1.2%. Similarly, high-beta chipmakers have struggled in the early going, evidenced by a 1.2% decline in the PHLX Semiconductor Index.

Elsewhere, the Dow Jones Industrial Average (unch) remains ahead of its peers considering the price-weighted index does not contain biotech names in its composition.

11:25 am:

[BRIEFING.COM] The S&P 500 (-0.1%) remains trapped below its flat line as significant weakness in the health care sector (-2.2%) outweighs gains in energy (+2.5%) and industrials (+0.5%). Elsewhere, a few other heavily-weighted sectors like financials (+0.1%) and consumer discretionary (-0.2%) have spent the early action near their flat lines.

Yesterday, the benchmark index registered its fifth consecutive advance, returning to its mid-September high; however, the index has not been able to extend that rally today considering buying interest has been limited to just a handful of sectors.

10:55 am:

[BRIEFING.COM] The S&P 500 (-0.3%) and Dow (+0.1%) continue hovering near their flat lines while the Nasdaq Composite has extended its decline to 0.8% amid heavy losses in the biotech space.

The iShares Nasdaq Biotechnology ETF (IBB 301.88, -11.32) trades down 3.6% while the broader health care sector has surrendered 1.6%. It is worth noting that today's underperformance in biotechnology comes after the industry group tried to stage a rally yesterday, but could not hold its morning gain into the afternoon.

Unlike health care, the remaining decliners hold losses slimmer than 1.0% while energy (+1.7%) and materials (+1.6%) continue trading in the lead.

Elsewhere, Treasuries have returned into the green after showing slim losses earlier. Accordingly, the 10-yr yield is down one basis point at 2.05%.

10:35 am: [BRIEFING.COM]

The dollar trended flat overnight, before gradually selling-off in early trade, to losses for the session.
The index's weakness gave support to oil, precious metals and copper throughout the morning- with the dollar now near its LoD at -0.45% to 95.78
Oil is seeing a strong rally in recent trade, aided by a weakened dollar and price/supply commentary by OPEC Chief Abdalla Salem el-Badri
Statements included the expectation for oil investment to be cut by $130 bln in the near term, offering price support and alleviation of oversupply
It is also worth noting that the API will release its weekly inventory report tonight, which is expected to show a build
Reaching daily highs near $47.40/barrel at one point this morning, December WTI is now holding strong gains at +2.1% to $47.23/barrel
Natural gas is modestly positive at +0.8% to $2.47/MMBtu, largely on an interplay between continued inventory over-supply, and calls for moderate near-term weather
Precious metals have rallied on the dollar's movement, with gold at +1% to $1148.80/oz and silver at +2% to $16.02/oz
Copper is holding gains just below its HoD at +0.4% to $2.36/lb, despite underwhelming German factory order data, released overnight

9:55 am:

[BRIEFING.COM] The S&P 500 (+0.1%) has crawled into the green while the Nasdaq Composite (-0.1%) remains pressured by biotechnology. Furthermore, large cap tech names have also struggled to get things going with the technology sector trading near its flat line.

On the flip side, energy (+1.4%) and materials (+1.6%) trade well ahead of the broader market amid all-around strength in the commodity market. For instance, crude oil has spiked 2.3%, trading higher by $47.34/bbl at this juncture.

Elsewhere, Treasuries are testing their lows with the 10-yr yield up two basis points at 2.07%.

9:35 am:

[BRIEFING.COM] As expected, the major averages began the day just below their flat lines. The S&P 500 trades lower by 0.2% with five sectors showing opening losses.

Similar to yesterday, the health care sector (-0.6%) has struggled in the early going with biotechnology responsible for the underperformance. The iShares Nasdaq Biotechnology ETF (IBB 307.65, -5.55) is lower by 1.8% after surrendering nearly a percent yesterday.

Just like health care, the financial sector (-0.3%) underperforms while technology (+0.1%), energy (+0.4%), and industrials (+0.2%) trade ahead of the broader market.

Elsewhere, Treasuries sit just above their recently-established lows with the 10-yr yield up one basis point at 2.06%.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -12.00.

The stock market is on track for a modestly lower open as S&P 500 futures trade five points below fair value after spending the entire night in negative territory. The overnight session was fairly quiet, but it did feature more disappointing economic data from Europe. Specifically, Germany's Factory Orders declined 1.8% in August while the market had expected an increase of 0.5%.

The disappointing data from Germany has not gotten in the way of European equities as markets in France, Germany, and UK hold gains between 0.3% and 0.8% after erasing their opening losses.

Domestically, pre-market action has been subdued, but brewer stocks are likely to be active considering SABMiller (SBMRY 58.00, 0.00) is expected to reject Anheuser-Bush Inbev's (BUD 109.93, -0.81) takeover proposal, according to Bloomberg.

Treasuries held modest gains overnight, but they have recently turned lower with the 10-yr yield up one basis point at 2.07%.

On the economic front, the August trade balance showed a deficit of $48.30 billion while the Briefing.com consensus expected the deficit to come in at $44.50 billion. The prior month's deficit was revised to $41.80 billion from $41.90 billion.

8:52 am: [BRIEFING.COM] S&P futures vs fair value: -5.20. Nasdaq futures vs fair value: -14.70.

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

Most markets in the Asia-Pacific region finished higher on Tuesday, although profit-taking efforts set in for a number of markets as the trading session progressed, cutting into stronger gains seen shortly after the start of trading. Many of the smaller regional markets continued their rebound as the thought of the Federal Reserve remaining on hold continued to bolster sentiment in emerging markets. Indonesia (+2.4%) led the way followed by Vietnam (+2.0%).

In economic data:
Australia's August Trade Balance -AUD3.095 bln (expected -AUD2.550 bln; prior -AUD2.792 bln) as Exports 0.0% (prior +2.0%) and Imports +1.0% (prior 0.0%)
Hong Kong's September Manufacturing PMI 45.7 (prior 44.4)
India's September Nikkei Services PMI 51.3 (prior 51.8)
New Zealand's Q3 NZIER Business Confidence -14.0% (prior +5.0%) and Q3 NZIER QSBO Capacity Utilization 91.4% (prior 93.4%)

------

Japan's Nikkei increased 1.0%, but spent most of the day drifting lower after gaining 2.0% at the start of trading. Standout sectors included the communications (+2.0%), industrials (+1.5%), and consumer discretionary (+1.2%) sectors. Nippon Steel & Sumitomo Metal Corp (+4.0%), Fukuoka Financial Group (+4.0%), and Hitachi Construction Machinery (+3.8%) topped the list of individual winners while Kawasaki Kisen Kaisha (-2.5%), UNY Group Holdings (-2.5%), and Sumco Corp (-2.4%) led the losers. Out of the 225 index members, 172 ended higher, 49 finished lower, and 4 were unchanged.
Hong Kong's Hang Seng declined 0.1%, coughing up the entirety of an opening 1.4% gain. Lenovo Group (-3.4%), China Overseas Land & Investment (-3.2%), and China Resources Enterprise (-3.1%) led the way lower. Sands China (+8.6%) and Galaxy Entertainment (+3.9%) continued their rebound and topped the list of winners along with PetroChina (+3.0%). Out of the 50 index members, 21 ended higher, 27 finished lower, and 2 were unchanged.
China's Shanghai Composite: closed for holiday (National Day)

Major European indices hold modest gains after climbing off their early lows. Markets in Spain (+0.6%), Germany (+0.6%), and France (+0.5%) have shown relative strength while UK's FTSE (+0.2%) underperforms.

Economic data was limited:
Germany's August Factory Orders -1.4% month-over-month (expected 0.5%; prior -2.2%)
UK's September Halifax House Price Index -0.9% month-over-month (expected 0.1%; last 2.7%); 8.6% year-over-year (expected 9.0%; prior 9.0%)
Swiss September CPI +0.1% month-over-month; -1.4% year-over-year, as expected

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UK's FTSE is higher by 0.2% with consumer names in the lead. WM Morrison Supermarkets, Burberry, Carnival, and 3i Group hold gains between 0.9% and 1.7% while SABMiller has given up 3.1% after Bloomberg reported the company will reject the takeover offer from Anheuser-Busch Inbev. Also of note, Glencore has faced renewed selling pressure, trading lower by 4.3% at this juncture.
Germany's DAX trades up 0.6% with Daimler and Volkswagen among the leaders. The two names hold respective gains of 1.8% and 1.1%. On the downside, utilities lag with E.On and RWE down 1.0% and 5.8%, respectively.
France's CAC has climbed 0.5% with Renault in the lead. The automaker has spiked 3.7% while Peugeot trades higher by 1.6%. Financials trade in mixed fashion with BNP Paribas down 0.5%, Societe Generale hovering near its flat line, and Credit Agricole trading higher by 3.1%.
Spain's IBEX trades higher by 0.6% with Bankia, Bankinter, and Santander showing gains between 1.1% and 1.3%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -7.60. Nasdaq futures vs fair value: -20.20.

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

The August trade balance showed a deficit of $48.30 billion while the Briefing.com consensus expected the deficit to come in at $44.50 billion. The prior month's deficit was revised down to $41.80 billion from $41.90 billion.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: -7.30. Nasdaq futures vs fair value: -20.20.

U.S. equity futures trade modestly lower despite upbeat action overseas. The S&P 500 futures hover seven points below fair value after spending the night inside an eight-point range.

Meanwhile, U.S. Treasuries have inched higher, pushing the 10-yr yield down two basis points to 2.04%.

Today's economic data will be limited to the August Trade Balance report, which will be released at 8:30 ET (Briefing.com consensus -$44.50 billion).

In U.S. corporate news of note:

PepsiCo (PEP 98.27, +2.46): +2.6% after beating earnings and revenue estimates.
DuPont (DD 54.51, +3.23): +6.3% after the company lowered its earnings guidance for fiscal year 2015 and announced the retirement of its Chair and CEO.
Anheuser-Busch Inbev (BUD 110.20, -0.54): -0.5% after Bloomberg reported the company's takeover offer will be rejected by SABMiller (SBRMY 58.00, 0.00).
FedEx (FDX 151.00, +1.08): +0.7% after Stifel upgraded the stock to 'Buy' from 'Hold.'
Container Store (TCS 14.20, -1.37): -8.8% in reaction to its one-cent miss on light revenue.

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +1.0%, Hong Kong's Hang Seng -0.1%, and China's Shanghai Composite remained closed for Golden Week
In economic data:
Australia's August Trade Balance -AUD3.095 bln (expected -AUD2.550 bln; prior -AUD2.792 bln) as Exports 0.0% (prior +2.0%) and Imports +1.0% (prior 0.0%)
Hong Kong's September Manufacturing PMI 45.7 (prior 44.4)
India's September Nikkei Services PMI 51.3 (prior 51.8)
New Zealand's Q3 NZIER Business Confidence -14.0% (prior +5.0%) and Q3 NZIER QSBO Capacity Utilization 91.4% (prior 93.4%)
In news:
The Reserve Bank of Australia left its key policy rate unchanged at 2.00%, as expected

Major European indices trade near their flat lines. UK's FTSE +0.1%, France's CAC +0.3%, and Germany's DAX +0.3%. Elsewhere, Italy's MIB +0.2% and Spain's IBEX +0.4%
Economic data was limited:
Germany's August Factory Orders -1.4% month-over-month (expected 0.5%; prior -2.2%)
UK's September Halifax House Price Index -0.9% month-over-month (expected 0.1%; last 2.7%); 8.6% year-over-year (expected 9.0%; prior 9.0%)
Swiss September CPI +0.1% month-over-month; -1.4% year-over-year, as expected
Among news of note:
Shares of Glencore are under pressure once again following yesterday's rebound. The stock trades lower by 3.6% in London, trailing all of the remaining FTSE components

5:51 am: [BRIEFING.COM] S&P futures vs fair value: -7.00. Nasdaq futures vs fair value: -20.00.

5:51 am: [BRIEFING.COM] Nikkei...18186.10...+180.60...+1.00%. Hang Seng...21831.62...-22.90...-0.10%.

5:51 am: [BRIEFING.COM] FTSE...6294.65...-4.30...-0.10%. DAX...9870.03...+55.20...+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
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com
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