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 Post subject: October 8th Thursday Trade Results - Profit $4812.50
PostPosted: Thu Oct 08, 2015 7:37 pm 
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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 @ $4812.50 dollars or +96.25 points, Light Crude Oil CL ($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 @ $4812.50 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=2190

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 ended the Thursday session on a higher note after erasing its opening decline. The S&P 500 climbed 0.9% while the Nasdaq Composite (+0.4%) underperformed throughout the day.

Equity indices struggled at the start of the trading day, responding to a mixed overnight session that featured losses among most Asian indices while European stocks fought to end the day with modest gains. The advance in Europe followed the release of the latest policy meeting minutes from the European Central Bank, which stressed that a lot more stimulus still has to work its way through the financial system.

Once the U.S. session got going, stocks spent the first half in the red as heavily-weighted technology (+0.5%) and health care (+0.4%) struggled; however, the two sectors were lifted off their lows during afternoon action as the S&P 500 climbed above its 50-day moving average (1,995).

The afternoon rebound accelerated after the release of the September FOMC minutes, which revealed that only one Committee member believed that economic conditions do not warrant a rate hike while other members believed that a rate hike will be appropriate before the end of 2015. Despite the majority view regarding the timing of the first rate hike, several members expressed concern over downside risks to inflation.

Treasuries saw an immediate spike in reaction to the minutes, but they quickly slid to new lows where they ended the day with the 10-yr yield rising four basis points to 2.11%. Meanwhile, the Dollar Index (95.31, -0.18) briefly fell to lows, but returned to its early afternoon levels shortly thereafter.

All ten sectors ended the day in the green with commodity-sensitive energy (+1.9%) and materials (+1.4%) continuing their recent outperformance. The two sectors extended this week's gains to 8.6% and 6.8%, respectively, while crude oil spiked 3.3% to $49.45/bbl.

Elsewhere among cyclical sectors, the consumer discretionary space (+1.2%) ended among the leaders with shares of Netflix (NFLX 114.93, +6.83) surging 6.3% after the company announced it will raise the price of its streaming service by 11.1%.

Staying on the cyclical side, the top-weighted technology sector (+0.5%) erased its loss by the close thanks to the broad strength. Lost in the shuffle was a 4.7% spike in EMC (EMC 27.18, +1.22) after The Wall Street Journal reported the company could be on track to merge with Dell.

Similar to technology, the health care sector (+0.4%) erased its opening loss during the afternoon; however, biotech names struggled into the close with the iShares Nasdaq Biotechnology ETF (IBB 307.20, -0.59) ending lower by 0.2% after being down 3.6% in the early going.

Today's participation was below recent totals as fewer than 900 million shares changed hands at the NYSE floor.

Economic data was limited to weekly Initial Claims, which declined to 263,000 from a downwardly revised 276,000 (from 277,000) while the Briefing.com consensus a decline to 275,000. As a result, the four-week moving average has dipped to 267,500 from 270,500, which is the lowest level since the first week of August. These levels continue to support the idea that the economy is at full employment.

Tomorrow, September Import/Export Prices will be reported at 8:30 ET while the August Wholesale Inventories report will be released at 10:00 ET (Briefing.com consensus 0.0%).

Nasdaq Composite +1.6% YTD
S&P 500 -2.2% YTD
Dow Jones Industrial Average -4.3% YTD
Russell 2000 -3.4% YTD

3:40 pm: [BRIEFING.COM]

Oil prices were big movers today with WTI and Brent rallying.
NYMEX crude oil futures crosses the widely watched $50 handle for the 1st time since Aug. 31 for the lead-month November contract.
By the end of today's pit session, Nov crude closed 3.3% to $49.45/barrel.

Nov natural gas rallied 1.2% to $2.50/MMBtu.
Gold sold off in electronic trade, extending losses.
In floor trade, Dec gold fell 0.4% to $1144.40/oz. Dec silver dropped 2% to $15.76/oz, while in industrial metals, Dec copper lost 1.3% to $2.34/lb.

3:00 pm:

[BRIEFING.COM] The S&P 500 trades higher by 0.6% with one hour remaining in the session. The benchmark index started the day with a modest loss, but was able to climb above the 2,000 level after the release of the latest FOMC minutes.

The afternoon rebound has lifted all sectors, helping health care (-0.3%) and technology (+0.1%) climb off their intraday lows. However, biotechnology continues showing relative weakness with the iShares Nasdaq Biotechnology ETF (IBB 303.75, -4.04) trading higher by 1.3%.

Elsewhere, Treasuries have extended their losses in recent action. The 10-yr note has slipped to a fresh low, pushing its yield up to 2.11% (+3 bps).

2:30 pm:

[BRIEFING.COM] Equity indices continue trading near their best levels of the day with the S&P 500 (+0.2%) holding a four-point gain.

The recent advance to fresh highs has been powered by the two sectors that have shown relative strength since the start. The energy space is now up 1.4% today and higher by 8.0% for the week, while the materials sector (+1.3%) follows right behind. On a related note, crude oil has extended its gain to 3.8% at $49.69/bbl just ahead of the end of the pit session.

Elsewhere, Treasuries have ticked back into the green after erasing their slim losses with the 10-yr yield back to flat at 2.07%.

2:05 pm:

[BRIEFING.COM] The Federal Reserve has just released the minutes from its September policy meeting.

Overall, the initial reaction was fairly muted, but the minutes reiterated that most members believe that a rate hike will be warranted before year's end. To that point, only one member said that economic conditions do not warrant a rate hike while other members believed that a rate hike will be appropriate before 2016.

Interestingly, the minutes were followed by a spike in stocks while the Dollar Index (95.16, -0.33) has widened its decline to 0.4% after spending the bulk of the session near its flat line.

Also of note, Treasuries have held their ground with the 10-yr yield remaining higher by a basis point at 2.08%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices remain mixed at this time after taking a leg lower in recent trade as investors trade with caution ahead of the FOMC minutes release, expected at 14:00 ET.

A look inside the Dow Jones Industrial Average shows Caterpillar (CAT 71.43, +1.05), DuPont (DD 56.16, +0.78), and Nike (NKE 123.64, +0.54) are outperforming. Nike shares were upgraded to Buy at DA Davidson this morning while Caterpillar and DuPont trade higher alongside their respective sectors, which are both outperforming today.

Conversely, Apple (AAPL 108.80, -1.98) is the worst-performing Dow component amid relative weakness in tech.
Related Quotes

For the week, the DJIA is currently up 2.8%, and almost 4% for the month.

Elsewhere, the $13 bln 30-year Treasury auction (reopening) drew a high yield of 2.914% on a bid-to-cover of 2.46

12:55 pm:

[BRIEFING.COM] The major averages hover in the red at midday with the Dow (-0.1%) and S&P 500 (-0.3%) trading ahead of the Nasdaq Composite (-1.0%).

The tech-heavy Nasdaq has struggled since the start due to relative weakness in health care (-1.2%) and technology (-0.8%), but the entire market is likely to be on the move after the Federal Reserve releases the minutes from its latest policy meeting at 14:00 ET. Investors viewed the outcome of the September meeting as quite dovish so it will be interesting to see whether the minutes maintain that tone.

Five of ten sectors sport midday gains while the aforementioned health care and technology sit at the bottom of the leaderboard. The technology sector has been pressured by some of its largest components with the likes of Apple (AAPL 108.24, -2.55), Alphabet (GOOGL 654.68, -15.33), and Facebook (FB 90.52, -1.88) showing losses between 2.0% and 2.3%.

The general softness in technology has masked a 5.0% surge in the shares of EMC (EMC 27.25, +1.29), which has been brought on by a Wall Street Journal report indicating the company could be on track to merge with Dell.

For its part, the health care sector has not been able to overcome renewed weakness in the biotech space. To that point, the iShares Nasdaq Biotechnology ETF (IBB 298.64, -9.15) is lower by 2.9%, erasing its entire gain from yesterday.

On the upside, commodity-linked energy (+0.7%) and materials (+0.6%) have enjoyed continued strength, extending their respective week-to-date gains to 7.3% and 6.0%. Rising commodity prices have supported the two cyclical sectors with crude oil trading higher by 3.0% at $49.26/bbl.

Elsewhere, Treasuries hold slim losses after erasing their overnight gains. As a result, the 10-yr yield is higher by one basis point at 2.08%.

Economic data was limited to weekly Initial Claims, which declined to 263,000 from a downwardly revised 276,000 (from 277,000) while the Briefing.com consensus a decline to 275,000. As a result, the four-week moving average has dipped to 267,500 from 270,500, which is the lowest level since the first week of August. These levels continue to support the idea that the economy is at full employment.

12:25 pm:

[BRIEFING.COM] Recent action saw the S&P 500 (+0.1%) climb into the green while the Nasdaq Composite (-0.6%) remains behind due to continued weakness in technology (-0.5%) and health care (-0.8%).

As mentioned earlier, most of the remaining sectors have been gathering steam over the past hour or so, which has helped the benchmark index turn positive. However, the market is likely to experience some volatility during the afternoon once the FOMC Minutes from the September meeting cross the wires at 14:00 ET. The September meeting was viewed as dovish so it will be interesting whether the minutes strike a similar tone. The U.S. Dollar Index (95.33, -0.17) is currently lower by 0.2%, but like equities, the index is likely to be on the move later this afternoon.

Treasuries have spent the early action near their flat lines and they currently hold slim losses with the 10-yr yield higher by a basis point at 2.08%.

11:55 am:

[BRIEFING.COM] The Dow Jones Industrial Average (+0.1%) has clawed its way into the green while the S&P 500 (-0.1%) and Nasdaq Composite (-0.7%) remain in the red.

Not much change has taken place in health care (-1.1%) and technology (-0.6%) as the two influential sectors continue trading well behind the broader market. However, most other groups are now in the green with the materials space extending its lead to 0.9%.

Elsewhere among cyclical groups, the industrial sector (+0.5%) has shown relative strength in recent going. Transport stocks have contributed to the outperformance with the Dow Jones Transportation Average trading higher by 0.6%. Only six index components trade in the red while shipper Matson (MATX 42.50, +1.00) leads with a gain of 2.3%.

11:20 am:

[BRIEFING.COM] Recent action saw the S&P 500 (-0.3%) return to its session low after the index failed to punch through the 50-day moving average (1,994).

The recent return to lows has been fueled by more selling in heavily-weighted health care (-1.4%) and technology (-0.8%) sectors while other groups have not fared that much better. On the flip side, utilities (+0.7%), materials (+0.4%), and consumer staples (+0.4%) outperform, but two of those sectors-utilities and materials-hold little sway over the broader market considering they represent roughly 5.0% of the S&P 500.

Elsewhere, Treasuries have continued drifting near their flat lines with the 10-yr yield remaining at 2.07%.

10:55 am:

[BRIEFING.COM] Equity indices have bounced off their worst levels of the session, but they remain in negative territory amid losses in most heavily-weighted sectors.

Yesterday, the S&P 500 (-0.3%) briefly crossed above its 50-day moving average (1997), but that posed resistance to the benchmark index, which closed the session just a point below its 50-day average. Similarly, today's early action has been capped by the 50-day average, which now resides in the 1,994 area.

Heavily-weighted financials (-0.4%), technology (-0.6%), and health care (-0.6%) continue trading behind the broader market and those three groups will be watched closely going into the afternoon.

10:40 am: [BRIEFING.COM]

The dollar trended flat overnight, before selling-off to lows near 95.1 in early trade ahead of the day's US unemployment data and FOMC minutes
Upon release of stronger-than-expected initial/continuing claims data, the dollar saw a muted reaction, but has since regained most of its prior losses to trade near flat.
The index is now -0.1% to 95.56, with the market focusing on this afternoon's FOMC minutes (out at 2 pm ET) for clues to the timing of a hike in the Fed Funds rate.
Gold and silver both saw strong sell-offs ahead of the morning's US unemployment data, but (in-line with the dollar) saw modest reaction to the data's release.
December gold has since gradually rallied back to modest losses for the session at -0.4% to $1144/oz, while silver continues to trade at strong losses to -2.8% at $15.64/oz (made substantially overnight/prior to early am weakness)
Oil trended modestly positive overnight following yesterday's EIA inventory report, which showed a larger-than-expected inventory build, and amidst headlines of escalating tension in Syria.
WTI is currently extending that positive momentum and is now +0.9% to $48.27/barrel
Natural gas rallied strong in early trade from flat overnight, ahead of the mornings EIA storage report, which was expected to show a 99 bcf build
Upon release of the data, which reported a 95 bcf inventory build, nat gas rallied higher and is now +1.7% to $2.52/MMBtu
Copper is now holding strong losses at -1.5% to $2.33/lb
Note: The USDA will release its monthly market-moving WASDE report tomorrow at noon ET- this will affect major grains including corn, soybeans and wheat

10:00 am:

[BRIEFING.COM] The major averages continue hovering near their opening levels with the S&P 500 (-0.2%) trading a bit ahead of the Nasdaq Composite (-0.5%).

Biotechnology has been in focus as of late and the influential industry group will be watched closely once again today considering the iShares Nasdaq Biotechnology ETF (IBB 304.91, -2.88) trades lower by 0.9%. Meanwhile, the broader health care sector is lower by 0.4% at this juncture.

Similar to health care, the top-weighted technology sector (-0.4%) has struggled in the early going.

9:40 am:

[BRIEFING.COM] As expected, the major averages began the trading day under some selling pressure. The S&P 500 trades lower by 0.4% while the Nasdaq Composite (-0.6%) underperforms.

Eight of ten sectors display opening losses with financials (-0.4%), technology (-0.5%), and health care (-0.8%) showing relative weakness in the early going. On the flip side, energy (+0.3%) and materials (+0.1%) hover just above their unchanged levels.

Elsewhere, Treasuries have completed their round-trip, surrendering their overnight gains with the 10-yr yield returning to unchanged at 2.07%.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: -7.60. Nasdaq futures vs fair value: -16.70.

The stock market is on track for a lower open as S&P 500 futures trade eight points below fair value. Although futures trade in the red, they have climbed off their overnight lows, erasing roughly half of the decline in process.

To little surprise, the overnight slip in U.S. futures has coincided with a shaky showing overseas. In Asia, most indices retreated while China's Shanghai Composite spiked 3.0% as the market reopened after the Golden Week holiday. Meanwhile, European indices trade near their flat lines with UK's FTSE (+0.3%) showing some relative strength. On a related note, the Bank of England made no changes to its policy stance, leaving its key interest rate and the purchasing program unchanged at 0.50% and GBP375 billion, respectively.

Also of note, the latest meeting minutes from the European Central Bank indicated there is still a large amount of QE funds that have not made their way into the market. The euro has retreated in reaction to the minutes, sliding from 1.1300 to 1.1260 against the dollar.

Later today, investors will receive the minutes from the latest FOMC meeting, which will put the dollar in focus. Currently, the Dollar Index (95.46, -0.04) is lower by 0.1%.

Treasuries have erased the bulk of their overnight gains with the 10-yr yield remaining lower by two basis points at 2.05%.

On the economic front, the latest weekly initial jobless claims count totaled 263,000 while the Briefing.com consensus expected a reading of 275,000.

8:51 am: [BRIEFING.COM] S&P futures vs fair value: -8.10. Nasdaq futures vs fair value: -17.50.

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

Markets in the Asia-Pacific region mostly gave way to a day of profit taking following some strong gains of late. A disappointing machinery orders report out of Japan contributed to the negative disposition. The notable exception Thursday was China's Shanghai Composite. It rallied 3.0% in a catch-up trade following its weeklong closure.

In economic data:
Japan's August Core Machinery Orders -5.7% month-over-month (expected +3.2%; prior -3.6%); -3.5% year-over-year (expected +4.2%; prior +2.8%). Separately, September Economy Watchers Current Index 47.5 (expected 48.6; prior 49.3)

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Japan's Nikkei declined 1.0% and ended at its lows for the session following a much weaker-than-expected report for core machinery orders. The biggest losers were the health care (-2.8%) and consumer staples (-2.7%), and consumer discretionary (-1.6%) sectors. Aeon (-7.2%), Shionogi & Co (-6.7%), and MEIJI Holdings (-5.5%) paced declining issues. Sumco Corp (+4.1%), Chiyoda Corp (+3.9%), and Minebea (+3.6%) topped the list of winners. Out of the 225 index members, 89 ended higher, 129 finished lower, and 7 were unchanged.
Hong Kong's Hang Seng declined 0.7%, spending nearly the entirety of its session in negative territory. Prior to Thursday's trade, the Hang Seng had risen 9.5% over a span of just five trading sessions beginning on September 30. CNOOC (-6.0%), China Resources Enterprise (-5.5%), and Belle International Holdings (-3.7%) were the worst-performing issues. Sino Land Co (+2.3%), Sands China (+1.6%), and Galaxy Entertainment (+1.4%) were the best-performing issues. Out of the 50 index members, 14 ended higher and 36 finished lower.
China's Shanghai Composite increased 3.0% in its reopening after a weeklong holiday. It was a catch-up trade that many saw coming with other markets having rallied hard since the Shanghai Composite closed on September 30. At its best level of the day, the Composite was up 3.9%.

Major European indices trade near their flat lines while UK's FTSE (+0.4%) outperforms. The Bank of England made no changes to its policy stance, leaving its key interest rate and the purchasing program unchanged at 0.50% and GBP375 billion, respectively. On a separate note, the latest policy meeting minutes from the European Central Bank indicated there is still "substantial degree of stimulus" in the pipeline.

Economic data was limited:
Germany's August Trade surplus narrowed to EUR19.60 billion from EUR22.40 billion (expected surplus of EUR22.50 billion) as imports fell 3.1% (consensus -1.2%; prior 2.3%) and exports declined 5.2% (expected -1.2%; last 2.2%)
Swiss September Unemployment Rate ticked up to 3.4% from 3.3%, as expected

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UK's FTSE trades higher by 0.4% with select miners showing strength for the second day in a row. BHP Billiton and Fresnillo hold respective gains of 2.3% and 3.0%. Consumer names also display strength with Tesco, easyJet, and Burberry up between 2.1% and 2.6%.
Germany's DAX has climbed 0.1% with exporters among the leaders. BMW, Daimler, and Volkswagen have gained between 0.8% and 2.0%. Financials also outperform with Commerzbank and Deutsche Bank both up near 0.4%. On the downside, Bayer has given up 1.5%.
In France, the CAC is lower by 0.2%. Veolia Environnement is the weakest performer, trading lower by 1.6%, while financials BNP Paribas and Societe Generale hold losses close to 0.8% apiece. On the flip side, ArcelorMittal trades up 1.6%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -7.40. Nasdaq futures vs fair value: -14.70.

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

The latest weekly initial jobless claims count totaled 263,000 while the Briefing.com consensus expected a reading of 275,000. Today's tally was below the revised prior week count of 276,000. As for continuing claims, they rose to 2.204 million from 2.195 million.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -12.90.

U.S. equity futures trade modestly lower amid mixed action overseas. The S&P 500 futures trade six points below fair value after erasing roughly half of their overnight decline.

Meanwhile, U.S. Treasuries have advanced, sending the 10-yr yield lower by three basis points to 2.04%.

Today's economic data will be limited to the 8:30 ET release of the weekly Initial Claims report (Briefing.com consensus 275,000) while the September FOMC Minutes will cross the wires at 14:00 ET.

In U.S. corporate news of note:

BioMed Realty (BMR 23.38, +1.79): +8.3% after agreeing to be acquired by Blackstone (BX 34.70, 0.00) for $23.75/share.
EMC (EMC 26.75, +0.79): +3.0% after the Wall Street Journal reported the company is in talks to merge with Dell.

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite +3.0%, Japan's Nikkei -1.0%, and Hong Kong's Hang Seng -0.7%.
In economic data:
Japan's August Core Machinery Orders -5.7% month-over-month (expected +3.2%; prior -3.6%); -3.5% year-over-year (expected +4.2%; prior +2.8%). Separately, September Economy Watchers Current Index 47.5 (expected 48.6; prior 49.3)
In news:
Japan's Machinery Orders report showed the third consecutive decline, prompting Prime Minister Shinzo Abe's cabinet to lower its sector assessment to 'stalling.'

Major European indices trade in mixed fashion. UK's FTSE +0.5%, Germany's DAX +0.2%, and France's CAC -0.1%. Elsewhere, Italy's MIB +0.7% and Spain's IBEX -0.2%.
Economic data was limited:
Germany's August Trade surplus narrowed to EUR19.60 billion from EUR22.40 billion (expected surplus of EUR22.50 billion) as imports fell 3.1% (consensus -1.2%; prior 2.3%) and exports declined 5.2% (expected -1.2%; last 2.2%)
Swiss September Unemployment Rate ticked up to 3.4% from 3.3%, as expected
Among news of note:
The Bank of England made no changes to its policy stance, leaving its key interest rate and the purchasing program unchanged at 0.50% and GBP375 billion, respectively
The European Central Bank has released the minutes from its latest meeting, indicating there is still "substantial degree of stimulus" in the pipeline

5:47 am: [BRIEFING.COM] S&P futures vs fair value: -8.80. Nasdaq futures vs fair value: -21.00.

5:47 am: [BRIEFING.COM] Nikkei...18141.17...-181.80...-1.00%. Hang Seng...22354.91...-160.90...-0.70%.

5:47 am: [BRIEFING.COM] FTSE...6336.82...+0.50...+0.00%. DAX...9966.77...-3.60...0.00%.

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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