TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 4:37 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: October 13th Tuesday Trade Results - Profit $3875.00
PostPosted: Wed Oct 14, 2015 2:50 am 
Offline
Site Admin

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

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

Attachment:
101315-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3875.00.png
101315-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3875.00.png [ 94.87 KiB | Viewed 263 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $2750.00 dollars or +27.50 points, Emini ES ($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 @ $3875.00 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=2193

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.

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

Attachment:
101315-Key-Price-Action-Markets.png
101315-Key-Price-Action-Markets.png [ 1.16 MiB | Viewed 277 times ]

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


4:05 pm: [BRIEFING.COM] The stock market ended Tuesday on a lower note after the major averages failed to hold their slim intraday gains. The S&P 500 settled lower by 0.7% while the Nasdaq Composite (-0.9%) underperformed.

Overall, today's affair was relatively quiet with trading volume surpassing yesterday's total by a relatively slim margin. To that point, fewer than 850 million shares changed hands at the NYSE floor.

Equity indices faced some selling pressure after China's September trade balance ($60.34 billion; expected $46.79 billion) showed a 20.4% decline in imports (expected -15.0%), which was the 11th consecutive drop in that category, stirring up concerns about China's demand for goods and services from its neighbors. Accordingly, most Asian markets posted losses on Tuesday and the defensive sentiment infiltrated the European session.

However, once the opening bell rang on Wall Street, stocks spent the first two hours of the day in a steady climb off their opening lows. That rally lifted the major averages above their flat lines, but the key indices could not build on their slim gains, instead sliding back to their lows during the afternoon.

All ten sectors finished the day in negative territory with industrials (-1.0%) occupying the bottom of the leaderboard throughout the day. Transport stocks were largely responsible for the underperformance, evidenced by a 2.2% dive in the Dow Jones Transportation Average. Only one index component settled in the green while Ryder Systems (R 68.63, -7.02) and JetBlue Airways (JBLU 24.75, -2.11) paced the decline with respective losses of 9.3% and 7.9%. Shares of Ryder slumped after the company lowered its guidance while JetBlue was downgraded at JP Morgan.

Staying on the cyclical side, financials (-0.7%) and energy (-0.9%) settled near the broader market while the technology sector (-0.3%) outperformed throughout the day with Apple (AAPL 111.79, +0.19) and Alphabet (GOOGL 683.17, +6.74) climbing 0.2% and 1.0%, respectively, while SAP (SAP 72.30, +3.85) spiked 5.6% in reaction to better than expected results. Also of note, Twitter (TWTR 29.05, +0.30) rose 1.1% after increasing its revenue guidance and announcing plans to reduce its global workforce by up to 8.0%.

Over on the countercyclical side, the health care sector (-1.2%) ended among the laggards due to an afternoon retreat in biotechnology. To that point, the iShares Nasdaq Biotechnology ETF (IBB 298.76, -9.78) lost 3.2%. Elsewhere in the health care space, Johnson & Johnson (JNJ 95.45, -0.54) fell 0.6% after reporting a bottom-line beat on below-consensus revenue.

Treasuries ended the day near their overnight highs with the 10-yr yield down four basis points at 2.05%.

The Treasury Budget for September (Briefing.com consensus $95.00 billion) was originally on today's economic schedule, but the report did not cross the wires during the expected release time.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET while September PPI (Briefing.com consensus -0.3%) and Retail Sales (consensus 0.2%) will both be reported at 8:30 ET. Also of note, August Business Inventories will be reported at 10:00 ET (expected 0.1%) while the October Beige Book will cross the wires at 14:00 ET.

Nasdaq Composite +1.3% YTD
S&P 500 -2.7% YTD
Dow Jones Industrial Average -4.2% YTD
Russell 2000 -4.6% YTD

3:40 pm: [BRIEFING.COM]

In commodities, oil prices slid lower today following this morning's monthly IEA oil market report, which said that the global oil supply glut will extend into 2016
By the end of floor trading, Nov crude oil closed the day -0.8% at $46.70/barrel
Shortly after the close, the America Petroleum Institute (API) will release its weekly oil storage data, which is a notable catalyst for oil prices
Also, tomorrow morning at 10:30am ET, the EIA will release its own weekly oil storage data, which usually moves oil more than the API data
In other energy, Nov natural gas slipped 1.6% to $2.50/MMBtu
Metals were mixed today... Dec gold rose $1 to $1165.50/oz, while Dec silver rose 0.3% to $15.92/oz
Dec copper slipped 0.4% to $2.40/lb

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 0.4% with one hour remaining in the session. The benchmark index finds itself just above its session low after failing to hold posture above its flat line. That being said, today's affair has been very quiet with trading volume running just a bit above yesterday's totals.

All ten sectors trade in the red with industrials (-0.8%) and health care (-0.6%) hovering behind the remaining groups. The industrial sector has struggled since the start while the health care space had shown strength earlier, but has since succumbed to selling in the biotech space. The iShares Nasdaq Biotechnology ETF (IBB 302.98, -5.56) is lower by 1.8%.

2:25 pm:

[BRIEFING.COM] Equity indices remain just above their session lows.

We look ahead to tomorrow's PPI report.

Producer prices were flat in August after increasing 0.2% in July. The Briefing.com Consensus expects the PPI decreased 0.3% in September.

The weakness in headline prices was the result of a severe drop in energy prices. Producer energy prices fell 3.3% in August, which was the largest decline since January.

According to the EIA, energy prices declined again in September. While the spot crude price increased roughly 3.5%, its impact on inflation measures was limited. The more important gasoline price fell 9% to its lowest level since February. That should put downward pressure on headline inflation prices.

Core PPI increased 0.3% for a third consecutive month in August. The consensus expects these prices increased 0.1% in September.

Pipeline pressures have been weak, which should keep core price growth in check. However, stronger-than-expected price growth in the producer services sectors -- specifically from higher trade margins -- have kept core price growth on an accelerated pace.

2:10 pm:

[BRIEFING.COM] The Treasury Budget statement for September had been scheduled for a 14:00 ET release, but the report has not been released as of yet. Meanwhile, Treasuries have inched back towards their highs with the 10-yr yield now down four basis points at 2.05%.

As for stocks, the S&P 500 (-0.4%) has slipped into the neighborhood of its session low while the Nasdaq Composite (-0.5%) underperforms after showing relative strength earlier.

All ten sectors are now back in the red with the industrial sector (-0.8%)remaining at the bottom of the leaderboard.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have taken a leg lower since our last update, and are working their way back towards session lows set earlier in today's trade

A look inside the Dow Jones Industrial Average shows Merck & Co (MRK 50.01, -0.70), United Technologies (UTX 94.16, -1.27), and IBM (IBM 149.30, -1.84) are underperforming. Merck shares are lower amid fears its cholesterol drug could too fail following Eli Lilly's announcement yesterday that its evacetrapib program would be discontinued following insufficient efficacy. United Technologies shares are under pressure after being downgraded to Sector Perform at RBC Capital Mkts.

Conversely, UnitedHealth Group (UNH 125.25, +2.74) is the best-performing Dow component alongside general strength in the managed health care space.
Related Quotes

For the week, the DJIA is currently up 0.15%, and over 5% this month alone.

12:50 pm:

[BRIEFING.COM] The major averages are little changed at midday after erasing their opening losses. The S&P 500 (-0.2%) trades within four points of its unchanged level after starting the session with an 11-point loss.

Equity indices began the trading day with modest losses after overnight action featured some disappointing data from China. Specifically, the country's trade balance ($60.34 billion; expected $46.79 billion) showed a 20.4% decline in imports (expected -15.0%), which was the 11th consecutive drop in that category, stirring up concerns about China's demand for goods and services from its neighbors.

The cautious posture carried over to the European session, but U.S. equities were able to recover their opening losses swiftly; however, extending that rebound has proven challenging for the time being.

Six sectors continue holding midday losses with financials (-0.5%) and industrials (-0.5%) trading behind the remaining sectors. Notably, the industrial space has suffered from losses among transport stocks after Ryder Systems (R 69.13, -6.52) lowered its guidance and JetBlue (JBLU 24.90, -1.96) was downgraded at JP Morgan. The two names hold respective losses of 8.6% and 7.2% while the broader Dow Jones Transportation Average is lower by 1.3%.

Elsewhere, the health care sector (+0.1%) trades a bit ahead of the broader market with Johnson & Johnson (JNJ 96.06, +0.07) hovering just north of its flat line after reporting a bottom-line beat on below-consensus revenue.

Treasuries have rallied overnight and they continue holding roughly half of their gains with the 10-yr yield down two basis points at 2.06%.

Investors did not receive any economic data this morning, but the Treasury Budget for September will be reported at 14:00 ET (Briefing.com consensus $95.00 billion).

12:25 pm:

[BRIEFING.COM] The major averages remain locked in narrow ranges as they continue drifting near their flat lines.

The industrial sector (-0.4%) remains at the bottom of the leaderboard while financials (-0.3%) have recently returned into negative territory after showing modest gains earlier on. On the upside, the health care sector has narrowed its gain to 0.1% after being up nearly 1.0% just an hour ago.

Elsewhere, Treasuries continue hovering a bit below their session highs with the 10-yr yield down three basis points at 2.06%.

11:55 am:

[BRIEFING.COM] Not much change in the market as the key indices remain near their unchanged levels.

Yesterday's session was very quiet given the Columbus Day holiday; however, today's affair has not been a whole lot livelier. Equity indices erased their opening losses about an hour after the opening bell and they have held their ground for the past 90 minutes or so.

Only two sectors remain in the red, but both consumer staples (-0.2%) and industrials (-0.3%) have climbed off their worst levels of the session. Notably, the industrial sector has been pressured by transport stocks with the Dow Jones Transportation Average trading lower by 1.2%. JetBlue (JBLU 25.01, -1.85) and Ryder System (R 69.23, -6.42) hold respective losses of 6.9% and 8.4% with JetBlue retreating after being downgraded to 'Neutral' at JP Morgan while shares of Ryder have plunged after the company lowered its guidance.

11:25 am:

[BRIEFING.COM] The S&P 500 (+0.1%) has climbed above its flat line while the Nasdaq Composite (+0.3%) remains in the lead thanks to relative strength in biotechnology and technology.

The top-weighted technology sector (+0.2%) holds a modest gain even though high-beta chipmakers have struggled to keep pace, evidenced by a 0.3% decline in the PHLX Semiconductor Index. As for larger sector components, Apple (AAPL 112.00, +0.40) is higher by 0.4% while Microsoft (MSFT 46.95, -0.05) has yet to make it out of the red.

Meanwhile, biotechnology has built on its strength with the iShares Nasdaq Biotechnology ETF (IBB 311.20, +2.66) extending its gain to 0.8% while the health care sector (+0.7%) has climbed into the lead.

10:55 am:

[BRIEFING.COM] Equity indices hover near their flat lines after erasing their opening losses. The S&P 500 remains just below its unchanged level while the Nasdaq (+0.1%) displays some slight relative strength for the second day in a row.

The slight outperformance in the Nasdaq is due to gains in the biotech industry. The iShares Nasdaq Biotechnology ETF (IBB 309.52, +0.98) is currently higher by 0.3% while the broader health care sector trades up 0.2%.

Elsewhere, the energy sector (+0.4%) began the day under pressure, but the commodity-sensitive group now trades in the lead. The sector has rallied behind crude oil, which trades up 2.3% at $48.19/bbl.

10:35 am: [BRIEFING.COM]

The dollar sold-off into negative territory in early trade, bottoming near the 94.55 level, before gradually rallying back to near-flat for the session.
Strength in the Yen and Yuan on positive Chinese stimulus measures, in combination with negative China import/export data, was a primary driver of early dollar weakness
The index is now near flat at +0.1% to 94.94
Oil trended strongly positive overnight, before selling-off in early trade on the dollar's reversal and consideration of demand-growth commentary from the IEA
The IEA stated that the market will likely remain over-supplied into 2016, with weak demand growth likely off-setting supply cuts in the latter part of that year
Despite that commentary however, oil has rebounded strongly in current trade and is now +2% to $48.03/barrel
Natural gas is trading positive at +0.2% to $2.54/MMBtu, following forecasts that call for increased heating needs in the NE United States
Precious metals are trending near-unchanged and modestly positive, with gold at +0.1% to $1164.80/oz and silver at +0.5% to $15.96/oz
Copper is trading moderately lower following the under-whelming Chinese import/export data (that showed negative export, and larger-than-expected negative import figures)
December copper is now -0.4% to $2.41/lb

10:00 am:

[BRIEFING.COM] The S&P 500 has narrowed its decline to 0.3%, but nine sectors remain in negative territory while health care (+0.1%) hovers just above its flat line. Similar to the broader sector, the biotech group trades little changed with the iShares Nasdaq Biotechnology ETF (IBB 308.75, +0.21) sitting just above the unchanged level.

Elsewhere, the energy sector is now down 0.5% after cutting its opening loss in half while financials (-0.4%) and technology (-0.3%) trade near the S&P 500.

Treasuries have held their ground just below their highs with the 10-yr yield down two basis points at 2.06%.

9:40 am:

[BRIEFING.COM] The stock market has faced some selling pressure during the opening minutes with the S&P 500 trading lower by 0.4%.

All ten sectors display opening losses with energy (-1.1%) and materials (-1.0%) showing relative weakness for the second day in a row. Elsewhere, heavily-weighted financials (-0.3%) and health care (-0.3%) trade a bit ahead of the broader market while technology (-0.5%) and industrials (-0.7%) underperform.

Treasuries have ticked down from their best levels of the morning, but they remain in the green with the 10-yr yield down three basis points at 2.06%.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: -10.10. Nasdaq futures vs fair value: -25.70.

The stock market is on track for a lower open with S&P 500 futures trading ten points below fair value. Index futures retreated last night after China's trade balance ($60.34 billion; expected $46.79 billion) showed a 20.4% decline in imports (expected -15.0%), which was the 11th consecutive drop in that category, stirring up concerns about China's demand for goods and services from its neighbors.

The overnight pullback in futures was accompanied by a slip in the dollar as the euro and yen rallied, but the Dollar Index (94.72, -0.12) has returned near its unchanged level not long ago as the dollar climbed 0.8% against the British pound (1.5215) after UK's soft inflation data dropped the year-over-year CPI reading into negative territory (-0.1%; expected 0.0%).

Domestically, a few earnings reports have filtered through with Johnson & Johnson (JNJ 94.17, -1.82) on track to open lower by 1.9% after reporting a bottom-line beat on below-consensus revenue. In other corporate news, Twitter (TWTR 29.17, +0.42) has raised its Q3 revenue guidance above estimates and announced plans to reduce its global workforce by up to 8.0%.

On the M&A front, Anheuser-Busch Inbev (BUD 113.43, +1.94) has climbed 1.7% in pre-market action after reaching a deal to acquire SABMiller (SBMRY 56.70, 0.00) for GBP44.00 per share, representing a 50.0% premium to SABMiller's closing price on September 14, 2015.

Today's economic data will be limited to the Treasury Budget for September, which will be reported at 14:00 ET (Briefing.com consensus $95.00 billion).

Treasuries hold gains with the 10-yr yield down four basis points at 2.05%.

8:53 am: [BRIEFING.COM] S&P futures vs fair value: -9.50. Nasdaq futures vs fair value: -26.50.

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

It was a turnaround Tuesday in that most markets in the Asia-Pacific region finished lower. The broad-based weakness flowed from some disappointing trade data out of China, only this time it was the country's weak imports (-20.4%) in September that drove selling interest more so than its exports (-3.7%). The sharp decline in imports was viewed as a distinct negative for the prospects of surrounding economies.

In economic data:
China's September Trade Balance $60.34 bln year-over-year (expected $46.79 bln; prior $60.24 bln) as Imports -20.4% (expected -15.0%; prior -13.8%) and Exports -3.7% year-over-year (expected -6.3%; prior -5.5%)
Japan's September Household Confidence 40.6 (expected 41.6; prior 41.7) and Preliminary Machine Tool Orders -19.1% (prior -16.5%)
South Korea's September Export Price Index -1.9% year-over-year (prior -1.6%) and September Import Price Index -13.0% (prior -13.6%)
Australia's September NAB Business Confidence 5.0 (expected 4.0; prior 1.0)
India's September CPI +4.41% year-over-year (expected +4.30%; prior +3.66%) and August Industrial Production +6.4% year-over-year (expected +4.8%; prior +4.2%)

------

Japan's Nikkei declined 1.1% coming off its Monday holiday and ended near its low for the session. The losses were paced by weakness in the financials (-1.9%), materials (-1.5%), and consumer discretionary (-1.1%) sectors. Chiba Bank (-4.6%), Chiyoda Corp (-4.5%), and Kubota Corp (-4.0%) were the worst-performing issues. Pioneer Corp (+8.8%), Sharp Corp (+6.5%), and ANA Holdings (+3.3%) topped the list of winners. Out of the 225 index members, 91 ended higher, 126 finished lower, and 8 were unchanged.
Hong Kong's Hang Seng declined 0.6%, feeling the weight of China's disappointing trade data and falling oil prices. CNOOC (-3.3%), PetroChina (-2.0%), and Bank of Communications (-1.9%) were the biggest laggards. Galaxy Entertainment (+6.1%), China Unicom Hong Kong (+3.9%), and China Resources Enterprise (+3.6%) were the best-performing issues. Out of the 50 index members, 19 ended higher, 28 finished lower, and 3 were unchanged.
China's Shanghai Composite was down 1.1% in early action after official trade data showed a halting 20.4% decline in imports in September. It got itself turned around, though, and rallied in the afternoon session to finish with a 0.2% gain.

Major European indices trade lower across the board with France's CAC (-1.5%) and Germany's DAX (-1.5%) showing relative weakness. Elsewhere, the British pound has tumbled 0.8%, falling to 1.5225 against the dollar in reaction to the soft UK inflation data released earlier today.

Economic data was plentiful:
Eurozone ZEW Economic Sentiment 30.1, as expected (prior 33.3)
Germany's September CPI -0.2% month-over-month, as expected; 0.0% year-over-year, as expected. Separately, September Wholesale Price Index -0.6% month-over-month (expected -0.3%; prior -0.8%); -1.8% year-over-year (prior -1.1%). Also of note, October ZEW Economic Sentiment 1.9 (consensus 6.0; prior 12.1) and ZEW Current Conditions 55.2 (prior 64.7; last 67.5)
UK's September CPI -0.1% month-over-month (expected 0.0%; prior 0.2%); -0.1% year-over-year (consensus 0.0%; last 0.0%). Separately, Core CPI +1.0% year-over-year (consensus 1.1%; previous 1.0%) and House Price Index +5.2% year-over-year (expected 5.5%; prior 5.2%) Swiss September PPI -0.1% month-over-month, as expected (prior -0.7%); -6.8% year-over-year, as expected (last -6.8%)

------

UK's FTSE is lower by 0.9% with miners and financials among the laggards. Anglo American, Glencore, Barclays, HSBC Holdings, and Standard Chartered show losses between 2.8% and 5.8%. SABMiller leads with a gain of 8.9% after agreeing to Anheuser-Busch Inbev's acquisition offer.
Germany's DAX has surrendered 1.5% with all but two components trading in the red. Commerzbank and Deutsche Bank hold respective losses of 3.2% and 2.3% while BMW, Daimler, and Volkswagen are down between 2.2% and 2.6%. On the upside, SAP has spiked 5.4% in reaction to better than expected results.
In France, the CAC is lower by 1.5% with consumer names Kering, LVMH, and Accor down between 2.4% and 3.2%. On the flip side, Cap Gemini outperforms with a 2.0% gain.

8:26 am: [BRIEFING.COM] S&P futures vs fair value: -7.40. Nasdaq futures vs fair value: -22.50.

U.S. equity futures continue holding losses with S&P 500 futures trading seven points below fair value.

Unlike equity futures, the Dollar Index (94.85, +0.01) trades little changed after erasing a modest overnight decline. Last evening, the greenback retreated against the euro and the yen, but the dollar has been able to rally 0.9% against the British pound earlier this morning. The advance took place after UK's soft inflation data dropped the year-over-year CPI reading into negative territory (-0.1%; expected 0.0%).

7:55 am: [BRIEFING.COM] S&P futures vs fair value: -8.30. Nasdaq futures vs fair value: -25.10.

U.S. equity futures have faced some selling pressure during overnight action and they currently trade near the middle of their overnight ranges with S&P 500 futures hovering eight points below fair value.

The overnight weakness developed after the release of disappointing trade data from China, and the cautious sentiment has carried into the European affair.

Meanwhile, Treasuries have advanced, pressuring the 10-yr yield three basis points to 2.06%.

Today's economic data will be limited to the Treasury Budget for September, which will be reported at 14:00 ET (Briefing.com consensus $95.00 billion).

In U.S. corporate news of note:

Johnson & Johnson (JNJ 95.80, -0.19): -0.2% after reporting a bottom-line beat on below-consensus revenue.
Anheuser-Busch Inbev (BUD 114.04, +2.55): +2.3% after reaching a deal to acquire SABMiller (SBMRY 56.70, 0.00) for GBP44.00 per share, representing a 50.0% premium to SABMiller's closing price on September 14, 2015.
Wassau Paper (WPP 10.17, +2.88): +39.5% after agreeing to be acquired by SCA for $10.25/share.
Fastenal (FAST 39.00, +0.19): +0.5% in reaction to a one-cent beat.

Reviewing overnight developments:

Asian markets ended mostly lower. Japan's Nikkei -1.1%, Hong Kong's Hang Seng -0.6%, and China's Shanghai Composite +0.2%
In economic data:
China's September Trade Balance $60.34 bln year-over-year (expected $46.79 bln; prior $60.24 bln) as Imports -20.4% (expected -15.0%; prior -13.8%) and Exports -3.7% year-over-year (expected -6.3%; prior -5.5%)
Japan's September Household Confidence 40.6 (expected 41.6; prior 41.7) and Preliminary Machine Tool Orders -19.1% (prior -16.5%)
South Korea's September Export Price Index -1.9% year-over-year (prior -1.6%) and September Import Price Index -13.0% (prior -13.6%)
Australia's September NAB Business Confidence 5.0 (expected 4.0; prior 1.0)
India's September CPI +4.41% year-over-year (expected +4.30%; prior +3.66%) and August Industrial Production +6.4% year-over-year (expected +4.8%; prior +4.2%)
In news:
China's trade data sent terms of trade to a seven-month high with imports declining for the 11th consecutive month

Major European indices trade lower across the board. France's CAC -1.2%, Germany's DAX -1.1%, and UK's FTSE -0.8%. Elsewhere, Italy's MIB -0.6% and Spain's IBEX -1.3%
Economic data was plentiful:
Eurozone ZEW Economic Sentiment 30.1, as expected (prior 33.3)
Germany's September CPI -0.2% month-over-month, as expected; 0.0% year-over-year, as expected. Separately, September Wholesale Price Index -0.6% month-over-month (expected -0.3%; prior -0.8%); -1.8% year-over-year (prior -1.1%). Also of note, October ZEW Economic Sentiment 1.9 (consensus 6.0; prior 12.1) and ZEW Current Conditions 55.2 (prior 64.7; last 67.5)
UK's September CPI -0.1% month-over-month (expected 0.0%; prior 0.2%); -0.1% year-over-year (consensus 0.0%; last 0.0%). Separately, Core CPI +1.0% year-over-year (consensus 1.1%; previous 1.0%) and House Price Index +5.2% year-over-year (expected 5.5%; prior 5.2%)
Swiss September PPI -0.1% month-over-month, as expected (prior -0.7%); -6.8% year-over-year, as expected (last -6.8%)
Among news of note:
The British pound has tumbled 0.7%, falling to 1.5229 against the dollar in reaction to the soft inflation data released earlier today

5:47 am: [BRIEFING.COM] S&P futures vs fair value: -9.30. Nasdaq futures vs fair value: -26.40.

5:47 am: [BRIEFING.COM] Nikkei...18234.74...-203.90...-1.10%. Hang Seng...22600.46...-130.50...-0.60%.

5:47 am: [BRIEFING.COM] FTSE...6317.72...-53.50...-0.80%. DAX...10001.90...-117.90...-1.20%.

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
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 3 guests


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

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