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 Post subject: October 28th Wednesday Trade Results - Profit $4677.50
PostPosted: Thu Oct 29, 2015 5:06 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 @ $240.00 dollars or +2.40 points, Emini ES ($ES_F) futures @ $4437.50 dollars or +88.75 points, Light Crude Oil CL ($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 @ $4677.50 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=2204

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


4:10 pm: [BRIEFING.COM] The stock market snapped its two-day skid on Wednesday, but not before seeing some intraday volatility. The S&P 500 added 1.2% while the Russell 2000 (+2.9%) outperformed.

Equity indices rallied out of the gate in response to a batch of mostly better than expected earnings. That lengthy list was headlined by Apple (AAPL 119.28, +4.73) with the top-weighted stock spiking 4.1% in reaction to better than expected earnings and revenue. For its part, the broader technology sector (+1.5%) settled ahead of the broader market while most other cyclical sectors also showed relative strength. None more so than the energy space (+2.2%), which spent the day in the lead after struggling over the past two days.

The growth-sensitive energy sector rallied behind crude oil, which spiked 6.3% to $45.93/bbl. Thanks to today's rally, the sector has narrowed this week's loss to 1.5%. Similarly, the materials space (+1.5%) also outperformed today after struggling earlier in the week.

After rallying through the first two hours of the session, the market hovered near its high until the 14:00 ET release of the latest policy statement from the Federal Reserve, which called for no change to the current policy stance.

That being said, the Federal Reserve took out a key line from its statement, which referred to global developments having the potential to restrain economic growth in the U.S. With that line being left out of the October statement, the Fed has left the door open to a potential rate hike in December.

Accordingly, the policy statement was met with a slide in stocks and Treasuries while the Dollar Index (97.65, +0.75) spiked to levels last seen at the start of October. The index remained near its high until the close while Treasuries settled near their lows with the 10-yr yield rising five basis points to 2.09%. Stocks, however, charged back to their highs after making a brief appearance near their flat lines immediately after the Fed statement crossed the wires.

It is worth noting that most sectors settled above their early afternoon highs while the financial sector (+2.4%) never missed a beat, charging to a fresh session-best shortly ahead of the close.

Elsewhere, the health care sector (+1.0%) settled a bit behind the market, but it is worth noting that today's underperformance followed two days of relative strength. The countercyclical sector extended this week's gain to 3.2% despite a struggling biotech group. That struggle was a distant memory by the close with the iShares Nasdaq Biotechnology ETF (IBB 331.79, +4.14) ending higher by 1.3% while one of its top components-Gilead Sciences (GILD 108.13, -2.83)-fell 2.6% despite reporting better than expected earnings and revenue.

Today's participation was ahead of average with more than 960 million shares changing hands at the NYSE floor.

Economic data released today was limited to the weekly MBA Mortgage Index, which fell 3.5% to follow last week's 11.8% spike.

Tomorrow, weekly Initial Claims (Briefing.com consensus 264,000) and the advance reading of Q3 GDP (consensus 1.6%) will be released at 8:30 ET while the September Pending Home Sales report (expected 0.6%) will cross the wires at 10:00 ET.

Nasdaq Composite +7.6% YTD
S&P 500 +1.5% YTD
Dow Jones Industrial Average -0.2% YTD
Russell 2000 -2.1% YTD

3:35 pm: [BRIEFING.COM]

Following the FOMC statement, the dollar index surged higher and hit a new high for today
This weighed on select commodities, including gold and silver. Post-FOMC, gold sharply surrendered all gains and began to post notable losses
At the end of pit trading, Dec gold finished 0.9% higher at $1176.40/oz
Now, following the FOMC results, Dec gold is -0.8% at $1156.00/oz, while Dec silver is +0.6% at $15.97/oz
Oil futures surged higher today, finishing pit trading +6.3% at $45.93/barrel. Dec natural gas lost -3.1% to $2.29/MMBtu
Here in electronic trade, Dec crude oil is +6.3% at $45.92/barrel

2:55 pm:

[BRIEFING.COM] The S&P 500 trades higher by 0.5% with one hour remaining in the session.

We look toward tomorrow's third quarter GDP report.

GDP increased 3.9% in Q2 2015 after increasing 0.6% in Q1 2015. The Briefing.com consensus expects GDP increased 1.6% in the third quarter.

There are some big discrepancies between Q3 2015 GDP forecasts.

It is difficult to forecast some of the inventory components during periods of large out-of-the-norm inflationary trends. In the third quarter, big swings in producer prices left some estimates to show positive real inventory growth -- such as our model - while other models are showing weaker inventory levels.

Excluding inventories, most models are in consensus with real final sales growth of 3.0%.

Positive contributions to GDP are expected from consumption, fixed investment, and government spending. A larger trade deficit will offset some of those gains.

2:25 pm:

[BRIEFING.COM] The major averages hover just above their flat lines after sliding from their highs in reaction to the October policy statement, which left the door open to a rate hike in December. The S&P 500 has narrowed its gain to 0.1% with five sectors now trading in the red.

To little surprise, consumer staples (-1.4%) and utilities (-1.8%) have extended their losses after spending the first half in the red while another countercyclical sector-health care (-0.3%)-has returned below its flat line after showing a brief gain. The pullback in health care has been accompanied by selling in the biotech space, sending the iShares Nasdaq Biotechnology ETF (IBB 325.43, -2.22) into the neighborhood of its earlier low.

Elsewhere, the Dollar Index (97.52, +0.62) has extended its gain to 0.6%.

2:05 pm:

[BRIEFING.COM] The Federal Reserve has released its latest policy statement, which called for no change to the current policy stance.

Most notably, the Federal Reserve took out a key line from its statement, which referred to global developments having the potential to restrain economic growth. With that line being left out of the October statement, the Fed has left the possibility for a December rate hike on the table. Accordingly, the Dollar Index (97.19, +0.27) has spiked to a fresh session high while Treasuries have slid to lows with the 10-yr yield now up three basis points at 2.09%.

As for stocks, the S&P 500 has narrowed its gain to 0.3% while the Nasdaq (+0.4%) remains a bit ahead.

1:35 pm:

[BRIEFING.COM] The major U.S. indices are effectively unchanged since our last update as investors pause ahead of the Fed statement and decision due out at 2 PM ET.

A look inside the Dow Jones Industrial Average shows that Apple (AAPL 117.99,+3.44), Merck & Co (MRK 54.86, +1.36), and Chevron (CVX 89.66, +1.96) are outperforming. Apple shares are boosting the Dow after reporting its fourth quarter earnings that surpassed analyst estimates on both the top and bottom line. The company's forward looking quarterly guidance fell in-line with expectations. Chevron is trading up with peers in the energy space, today's top performing sector, as WTI crude oil rallies over 6%.
Related Quotes

Conversely, Boeing (BA 146.50, -1.96) is the worst-performing Dow component after losing out on the U.S. Air Force's massive Long Range Strike-Bomber contract to Northrop Grumman (NOC 190.92, +10.32).

Bouncing back from yesterday's decline, the DJIA is now +0.2% this week, and has extended its October gains to 8.5%.

Elsewhere, the $35 bln 5-year auction at the top of the hour was met with weak demand, drawing a high yield of 1.415% and a bid-to-cover of 2.43.

12:55 pm:

[BRIEFING.COM] The major averages hold solid midday gains with the S&P 500 trading higher by 0.7% while the Russell 2000 (+2.2%) outperforms.

Equity indices have rallied through the first half of the midweek session, suggesting the market is positioned for a dovish October policy statement from the Federal Open Market Committee. That statement will be released at 14:00 ET and any hint of a potential rate by year's end hike is likely to be met with a slide in stocks and a rally in the dollar.

Currently, the key indices sit near their highs while the Dollar Index (96.63, -0.28) hovers near its low, trading down 0.3%. Despite the modest decline in the index, the dollar has been able to hold its ground against the yen as the pair hovers near 120.50.

Eight of ten sectors display midday gains with energy (+2.1%) and materials (+1.2%) in the lead after showing relative weakness over the past two days. Today, however, both sectors have rocketed higher amid strength in the commodity market. Most notably, crude oil has surged 5.8% to $45.72/bbl. Meanwhile, the remaining cyclical sector sport slimmer gains, but heavily-weighted groups like financials (+0.9%) and technology (+0.8%) trade ahead of the broader market.

The top-weighted tech sector has been underpinned by Apple (AAPL 117.67, +3.12) as the stock trades higher by 2.7% after beating earnings and revenue estimates. High-beta chipmakers have also shown relative strength, evidenced by a 1.1% spike in the PHLX Semiconductor Index.

Over on the countercyclical side, consumer staples (-0.5%) and utilities (-0.6%) trade in the red while the health care sector (+0.6%) trades just behind the broader market after erasing its opening loss. Biotechnology has contributed to the rebound effort with iShares Nasdaq Biotechnology ETF (IBB 328.92, +1.27) trading higher by 0.4% at this juncture. The modest gain has masked a 2.7% decline in the shares of Gilead Sciences (GILD 108.00, -2.96) taking place despite better than expected results and upbeat guidance. It is worth noting GILD settled above its 100-day moving average (110.58) yesterday and has marked a session low right above its 200-day moving average (107.20) earlier today.

Unlike stocks, Treasuries sit on their lows with the 10-yr yield higher by two basis points at 2.06%.

Economic data released today was limited to the weekly MBA Mortgage Index, which fell 3.5% to follow last week's 11.8% spike.

12:25 pm:

[BRIEFING.COM] Another round of new highs for the major averages with the S&P 500 now up 0.8%.

The energy sector (+2.4%) has held the lead since the early going after underperforming on Monday and Tuesday. Thanks to today's rally, the sector is now down 1.3% for the week after erasing the bulk of its loss earlier today. To little surprise, today's surge has coincided with aggressive buying in the oil market. As a result, WTI crude trades higher by 5.9% at $45.73/bbl, likely drawing some support from modest dollar weakness. To that point, the Dollar Index (96.56, -0.35) is lower by 0.4% with the greenback surrendering 0.4% to the euro (1.1083) while the dollar/yen pair trades little changed at 120.49.

Elsewhere, Treasuries remain near their lows with the 10-yr yield up two basis points at 2.06%.

11:55 am:

[BRIEFING.COM] The major averages remain near their session highs after enjoying a steady rally through the opening 90 minutes of the session. The S&P 500 trades higher by 0.7% and it would not be surprising to see the benchmark index maintain a narrow range until the 14:00 ET release of the latest policy statement from the Federal Open Market Committee.

Most cyclical sectors trade ahead of the broader market, but the industrial space (+0.4%) has struggled to keep pace amid a 0.3% decline in the Dow Jones Transportation Average. CH Robinson (CHRW 67.08, -2.91) has tumbled 4.2% after below-consensus revenue overshadowed a bottom-line beat.

The morning advance in stocks has accompanied a slide in the Treasury market that has the 10-yr note trading on its low with the benchmark yield higher by two basis points at 2.06%.

11:25 am:

[BRIEFING.COM] Equity indices hover near their recently-established highs with the S&P 500 up 0.6%.

Eight sectors trade with gains at this juncture while consumer staples (-0.4%) and utilities (-0.5%) remain in negative territory. Meanwhile, the health care sector is now higher by 0.2% after opening the day in negative territory. On a related note, the iShares Nasdaq Biotechnology ETF (IBB 327.89, +0.24) was down more than 1.0% at the start, but now hovers just above its flat line.

Thanks to the rebound, the health care sector is now up 2.4% for the week, which puts the countercyclical sector well ahead of its peers.

10:55 am:

[BRIEFING.COM] The major averages have climbed to new highs with the S&P 500 extending its gain to 0.6%. Thanks to the early rally, the benchmark index is now higher by 0.2% for the week.

Cyclical sectors have maintained their lead with energy (+2.6%) following a sharp rally in the oil market. Currently, WTI crude is higher by 5.1% at $45.36/bbl after trading with a 1.0% gain 90 minutes ago.

Similar to energy, the materials sector (+1.5%) trades well ahead of the broader market while other cyclical groups sport slimmer gains. It is worth noting that the technology sector (+0.5%) has been overtaken by the broader market after having shown relative strength at the start.

On the downside, consumer staples (-0.5%) and utilities (-0.4%) remain in negative territory.

10:35 am: [BRIEFING.COM]

The dollar trended modestly positive overnight, before seeing a steady, gradual sell-off ahead of this afternoon's (2 pm ET) FOMC rate decision
Street sentiment largely calls for no hike in rates, putting near-term pressure on the dollar, which now sits at moderate losses for the session at -0.2% to 96.81
Precious metals are benefiting from the dollar's weakness, and have traded green all session on movements in the index
Gold is now +1.3% to $1180.90/oz and silver is +2.8% to $16.31/oz
WTI rallied strong in early trade (from flat overnight), ahead of this morning's EIA inventory data, which is expected to show a ~3.6 mln barrel build for last week
The higher crude-trade this session was in the face of yesterday's API storage report, which showed a fifth straight week of builds- at 4.1 mln barrels
Upon release of the EIA report-showing a 3.38 mln barrel build- December crude rallied higher and is now +3.8% to $44.82/barrel
Natural gas has continued these past several weeks' steep decline, trending -2.9% lower at $2.29/MMBtu, amidst continuing concern for over-supply ahead of a warm-winter
Copper is negative at -0.2% to $2.36/lb, with trade being highlighted by reports that Antofagasta PLC lowered its copper production guidance to 635K tons, from 665K tons prior.

10:00 am:

[BRIEFING.COM] Equity indices have climbed to new highs as cyclical sectors continue adding to their opening gains.

The energy sector (+0.7%) has climbed ahead of technology (+0.5%) after showing relative weakness earlier in the week. Even with today's advance, the energy sector remains lower by 2.9% for the week.

Elsewhere, the health care sector (-0.4%) remains in negative territory as biotechnology lags. The iShares Nasdaq Biotechnology ETF (IBB 323.64, -4.01) is lower by 1.2%, contributing to the underperformance in the Nasdaq Composite.

9:40 am:

[BRIEFING.COM] As expected, the major averages began the trading day near their flat lines. The S&P 500 (+0.2%) holds a slim opening gain while the Nasdaq Composite (-0.1%) has turned negative.

Cyclical sectors paced yesterday's retreat, but all six growth-sensitive sectors trade in the green to start today's affair. The top-weighted technology sector (+0.4%) leads while energy (+0.4%) follows right behind after showing relative weakness over the past two days. It is worth noting that today's early strength has been accompanied by a rallying crude oil, which trades higher by 1.1% at $43.69/bbl.

On the downside, health care (-0.5%) and consumer staples (-0.2%) trade in the red while the other countercyclical sectors hold gains.

Treasuries remain near their flat lines with the 10-yr yield at 2.04%.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +6.10.

The stock market is on track for a modestly higher open as futures on the S&P 500 trade four points above fair value.

Once again, index futures have maintained a narrow range through the night ahead of the October policy statement from the Fed, which will be released at 14:00 ET. Although the market does not expect the statement to call for a rate hike, investors will scour the release in search of clues that could hint at a rate hike coming as early as December.

With investors focusing on the Fed, one could easily overlook the latest batch of quarterly earnings that have been released since yesterday's closing bell. Most notably, Apple (AAPL 116.59, +2.04) is on course to open higher by 1.8% after beating earnings and revenue estimates. Also of note, Gilead Sciences (GILD 108.90, -2.06) is tracking an opening loss of 1.9% despite beating earnings/revenue estimates and raising its net product sales guidance while Twitter (TWTR 27.96, -3.38) has given up 10.8% in pre-market after below-consensus guidance overshadowed better than expected results.

Treasuries are little changed with the 10-yr yield at 2.03%.

8:52 am: [BRIEFING.COM] S&P futures vs fair value: +4.10. Nasdaq futures vs fair value: +8.40.

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

Most markets in the Asia-Pacific region closed lower on Wednesday, dragged down by the lack of buying interest on Wall Street and general growth concerns, which flowed from the ongoing slide in oil prices. Japan's Nikkei (+0.7%) was the lone exception as it garnered support from speculation that the Bank of Japan will increase the size of its asset purchase program at this week's policy meeting.

In economic data:
Japan's September Retail Sales -0.2% year-over-year (expected +0.4%; prior +0.8%)
Australia's Q3 Trimmed Mean CPI +0.3% quarter-over-quarter (expected +0.5%; prior +0.6%); +2.1% year-over-year (expected +2.4%; prior +2.2%). Separately, Q3 CPI +0.5% quarter-over-quarter (expected +0.6%; prior +0.7%); +1.5% year-over-year (expected +1.7%; prior +1.5%)

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Japan's Nikkei increased 0.7% and ended near its highs for the day. Stock prices supported by expectations Bank of Japan will provide more policy stimulus at this week's meeting. Gains were paced by the health care (+1.1%), communications (+1.0%), and consumer staples (+0.9%) sectors. Mitsubishi Motors (+6.6%), Ube Industries (+6.6%), and Tokyo Electron (+6.6%) led individual gainers while Hitachi Construction Machinery (-4.5%), Minebea (-3.8%), and Konica Minolta (-3.3%) led the losers. Out of the 225 index members, 119 ended higher, 93 finished lower, and 13 were unchanged.
Hong Kong's Hang Seng declined 0.8% and closed at its low for the day. Pacing the retreat were shares of China Mengniu Dairy (-3.4%), China Resources Land (-3.0%), and China Shenhua Energy (-2.8%). The only stocks to gain more than 1.0% were Power Assets Holdings (+1.2%) and MTR Corp (+1.1%). Out of the 50 index members, 7 ended higher, 42 finished lower, and 1 was unchanged.
China's Shanghai Composite declined 1.7% and ended at its lows for the day with selling efforts picking up in the final hour of trade. Concerns about growth, which flowed from weakening oil prices, reportedly helped drive the market lower along perhaps with rising geopolitical tension as China tracked a US naval vessel that entered territorial waters in the South China Sea.

Major European indices trade higher across the board with Italy's MIB (+0.6%) showing relative strength. On a separate note, Sweden's Riksbank has increased the size of its asset purchases by $7.60 billion in a move that was viewed as a prelude to more easing in December from the European Central Bank.

Economic data was limited:
Germany's November GfK Consumer Climate ticked down to 9.4 from 9.6, as expected while September Import Price Index -0.7% month-over-month (expected -0.1%; prior -1.5%); -4.0% year-over-year (consensus -3.5%; last -3.1%)
France's October Consumer Confidence ticked down to 96 from 97 (expected 97)
Italy's October Business Confidence rose to 105.9 from 104.4 (expected 104.1) while Consumer Confidence rose to 116.9 from 113.0 (expected 112.1)

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UK's FTSE is higher by 0.4% with roughly 80% of its components trading in the green. Consumer and health care names appear among the leaders with BT Group, Hikma Pharmaceuticals, British American Tobacco, and Imperial Tobacco up between 1.4% and 3.3%. On the downside, several miners underperform with Antofagasta, Anglo American, BHP Billiton, and Rio Tinto down between 2.2% and 4.5%.
Germany's DAX has climbed 0.4% with Bayer in the lead. The drug maker has jumped 1.5% while financials underperform. Commerzbank and Deutsche Bank hold respective losses of 0.4% and 1.0%.
In France, the CAC trades higher by 0.3% with consumer names showing relative strength. Accor, Essilor International, and Pernod Ricard have gained between 0.5% and 1.7% while Peugeot and Renault underperform. The two automakers have given up 0.2% and 0.9%, respectively.

8:26 am: [BRIEFING.COM] S&P futures vs fair value: +4.10. Nasdaq futures vs fair value: +10.10.

U.S. equity futures remain modestly higher as quarterly earnings continue pouring in. True to form, most of the results have surpassed bottom-line estimates while revenue growth has been spottier. That being said, Apple (AAPL 116.27, +1.72) is on course to open higher by 1.5% after beating earnings/revenue estimates and guiding in line with analyst expectations.

Although investors have received a heavy batch of earnings since yesterday's closing bell, today's focus will be on the Federal Reserve, considering the October policy statement will be released at 14:00 ET. The S&P 500 has surrendered 0.5% over the past two days, but that standing is likely to change significantly once the policy statement crosses the wires.

7:58 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +14.10.

U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover five points above fair value after spending the night in a six-point range ahead of the October policy statement from the FOMC, which will be released at 14:00 ET.

Meanwhile, Treasuries are little changed with the 10-yr yield at 2.04%.

Today's economic data was limited to the weekly MBA Mortgage Index, which fell 3.5% to follow last week's 11.8% spike.

In U.S. corporate news of note:

Apple (AAPL 115.89, +1.34): +1.2% after beating earnings and revenue estimates.
Gilead Sciences (GILD 109.70, -1.26): -1.1% despite beating earnings/revenue estimates and raising its net product sales guidance.
Twitter (TWTR 28.20, -3.14): -10.0% after below-consensus guidance overshadowed better than expected results.
Walgreens Boot Alliance (WBA 94.80, -0.36): -0.4% after beating bottom-line estimates and issuing cautious guidance.
Akamai Technologies (AKAM 61.40, -14.15): -18.7% after defensive guidance masked a bottom-line beat.
Valero (VLO 63.99, +1.53): +2.5% after beating estimates and raising its quarterly dividend 25.0% to $0.50/share.
Northrop Grumman (NOC 191.50, +10.90): +6.0% in reaction to better than expected results and upbeat guidance.

Reviewing overnight developments:

Asian markets ended mostly lower. China's Shanghai Composite -1.7%, Hong Kong's Hang Seng -0.8%, and Japan's Nikkei +0.7%.
In economic data:
Japan's September Retail Sales -0.2% year-over-year (expected +0.4%; prior +0.8%)
Australia's Q3 Trimmed Mean CPI +0.3% quarter-over-quarter (expected +0.5%; prior +0.6%); +2.1% year-over-year (expected +2.4%; prior +2.2%). Separately, Q3 CPI +0.5% quarter-over-quarter (expected +0.6%; prior +0.7%); +1.5% year-over-year (expected +1.7%; prior +1.5%)
In news:
Press reports in Japan have suggested the Bank of Japan will push back the date when it expects to achieve its 2.0% inflation target. Currently, the central bank hopes to hit that mark by the first half of next year.

Major European indices trade higher across the board. Germany's DAX +0.7%, UK's FTSE +0.4%, and France's CAC +0.5%. Elsewhere, Italy's MIB +0.8% and Spain's IBEX +0.4%
Economic data was limited:
Germany's November GfK Consumer Climate ticked down to 9.4 from 9.6, as expected while September Import Price Index -0.7% month-over-month (expected -0.1%; prior -1.5%); -4.0% year-over-year (consensus -3.5%; last -3.1%)
France's October Consumer Confidence ticked down to 96 from 97 (expected 97)
Italy's October Business Confidence rose to 105.9 from 104.4 (expected 104.1) while Consumer Confidence rose to 116.9 from 113.0 (expected 112.1)
Among news of note:
Sweden's Riksbank has increased the size of its asset purchases by $7.60 billion in a move that was viewed as a prelude to more easing in December from the European Central Bank

5:50 am: [BRIEFING.COM] S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +17.10.

5:50 am: [BRIEFING.COM] Nikkei...18903.02...+126.00...+0.70%. Hang Seng...22956.57...-186.20...-0.80%.

5:50 am: [BRIEFING.COM] FTSE...6388.82...+23.70...+0.40%. DAX...10777.73...+85.50...+0.80%.

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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