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 5:43 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: November 9th Monday Trade Results - Profit $3595.00
PostPosted: Tue Nov 10, 2015 3:46 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:
110915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3595.00.png
110915-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3595.00.png [ 93.33 KiB | Viewed 307 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ ($30.00) dollars or -0.30 points, Emini ES ($ES_F) futures @ $3625.00 dollars or +72.50 points, Light Crude Oil CL ($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 @ $3595.00 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=149&t=2215

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=277&t=2948 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:
110915-Key-Price-Action-Markets.png
110915-Key-Price-Action-Markets.png [ 1.12 MiB | Viewed 292 times ]

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


4:05 pm: [BRIEFING.COM] The stock market began the trading week on a cautious note as persistent global growth concerns weighed on investor sentiment. The S&P 500 surrendered 1.0% while the Dow and Nasdaq posted comparable losses.

Equities retreated through the first half of the Monday session and remained near their lows into the afternoon, which kept dip-buyers on the sidelines. The cautious posture in the market took place after the weekend featured the release of China's trade data, which showed a 10-yr high in the trade surplus, but exports fell 6.9% in October, representing the fourth consecutive monthly drop.

Nine sectors ended the day in negative territory with losses between 0.7% (consumer staples) and 1.5% (energy) while the utilities space climbed 0.3%. The rate-sensitive sector eked out a modest gain thanks to higher Treasury yields; however, intraday demand lifted the 10-yr note off its low as the session wore on. As a result, the 10-yr returned to its early-morning low with the 10-yr yield rising two basis points to 2.35%.

Generally speaking, today's retreat was broad based with cyclical sectors leading the decline. Heavily-weighted consumer discretionary (-1.3%) and financials (-1.2%) ended behind seven of the remaining eight groups with the financial sector trimming its November gain to 1.5%. As for the consumer discretionary sector, the group was weighed down by a 9.6% slide in Priceline (PCLN 1311.39, -138.51) after its below-consensus guidance overshadowed better than expected results.

Elsewhere among cyclical sectors, energy (-1.5%) represented an early pocket of strength, but the group retreated alongside the broader market while crude oil lost 1.0%, sliding to $43.87/bbl. The energy sector narrowed its November gain to 0.9%, masking a 13.2% surge in Apache (APA 53.94, +6.27) after Bloomberg reported that the company received and rejected an unsolicited $18-billion takeover offer.

Also of note, industrials (-0.8%) traded among the laggards into the afternoon, but the sector was lifted ahead of the broader market during the afternoon amid reports Canadian Pacific (CP 142.18, +7.87) is interested in Norfolk Southern (NSC 88.67, +8.80). Shares of NSC soared 11.0% while the Dow Jones Transportation Average narrowed its loss to 0.3% after being down more than 2.0%.

Today's participation was a bit ahead of average with more than 900 million shares changing hands at the NYSE floor.

Tomorrow, October Import/Export Prices will be reported at 8:30 ET while the September Wholesale Inventories report will cross the wires at 10:00 ET (Briefing.com consensus 0.1%).

Nasdaq Composite +7.6% YTD
S&P 500 +1.0% YTD
Dow Jones Industrial Average -0.5% YTD
Russell 2000 -1.5% YTD

3:35 pm: [BRIEFING.COM]

Even though the dollar index continued to trade in the red, commodities such as oil ,natural gas, gold, silver and copper remained close to today's lows
Following a morning sell in select commodities, such as the ones noted here, losses basically held and prices remained consolidated in afternoon trade
Dec crude oil futures finished today's session -1% at $43.87/barrel
In other energy, Dec nat gas lost 3% and closed at $2.30/MMBtu
In the metals space, Dec silver dropped 2.1% today and ended at $14.40/oz, while Dec gold rose $0.10 to finish at $1087.90/oz
Dec copper lost once cent at $2.23/lb.

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 1.2% with one hour remaining in the session.

Nine sectors are on course to end the day with losses ranging from 1.0% to 1.6%, and this includes the industrial sector (-1.0%), which remains well below its flat line despite a recent spike in railroad stocks. That spike occurred after Bloomberg reported that Canadian Pacific (CP 142.56, +8.25) is interested in Norfolk Southern (NSC 88.72, +8.85). The report has sent shares of NSC higher by 11.3% while the broader Dow Jones Transportation Average has narrowed its loss 0.1% after being down more than 2.0% earlier.

Elsewhere, the consumer discretionary sector (-1.5%) remains at the bottom of the leaderboard going into the home stretch.

2:25 pm:

[BRIEFING.COM] The S&P 500 remains lower by 1.1% as quiet afternoon action continues.

Investors received another batch of quarterly earnings this morning, but things will slow down considerably tomorrow since more than 450 S&P 500 components have already reported their results.

Once today's closing bell rings, investors will hear from the likes of Caesars Entertainment (CZR 8.63, -0.11), Rackspace (RAX 27.56, -0.72) and SunEdison (SUNE 7.44, -0.14) while tomorrow morning the attention will shift to DR Horton (DHI 28.53, -0.87), Beazer Homes (BZH 13.34, -0.84), and QIWI (QIWI 15.93, -0.55).

1:55 pm:

[BRIEFING.COM] Not much change in the market as the key indices remain near their lowest levels of the day. The S&P 500 trades lower by 1.2% after having spent the past three hours inside a five-point range.

Sector standing has not changed much with the discretionary sector (-1.7%) remaining behind its peers. Despite today's decline, the growth-sensitive sector remains higher by 10.9% for the year while the second-best performer-technology-has climbed 6.8% so far in 2015.

Similar to stocks, Treasuries have maintained narrow ranges in recent action with the 10-yr yield remaining higher by two basis points at 2.35%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to experience notable pressure to kick off the week, and have taken another leg lower since our previous update.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 71.70, -2.14), IBM (IBM 135.21, -3.03), and Intel (INTC 33.10, -0.74) are underperforming.

Conversely, DuPont (DD 66.35, +0.24) is the best-performing Dow component after naming Board member and Interim Chair and CEO Edward D. Breen as permanent CEO effective immediately. Breen previously held various prominent executive management roles including as CEO of Tyco Intl and Chief Operating Officer of Motorola.

With today's decline, the DJIA is now sitting in negative territory for 2015.

Elsewhere, the Treasury's $24 bln 3-year not auction at the top of the hour was met with notably weak demand drawing a high yield of 1.271% on a bid-to-cover of 2.82/
Related Quotes

12:55 pm:

[BRIEFING.COM] The major averages hover near their session lows at midday with the Dow, Nasdaq, and S&P 500 showing losses close to 1.2% apiece.

Equity indices have spent the first half of today's affair in a steady retreat off their opening levels. As a result, the S&P 500 has turned negative for the month (-0.2% month-to-date) as the market dips towards the 200-day moving average (2,063), which resides about nine points below the current mark in the S&P 500.

The benchmark index was able to erase its intraday loss on Friday after the October Employment Situation report (271,000; Briefing.com consensus 181,000) increased the likelihood that the Federal Reserve will raise the fed funds rate at the December meeting. However, today's selling has been broad-based with nine sectors showing midday losses between 0.8% (consumer staples) and 1.6% (consumer discretionary) while the utilities space (+0.1%) hovers just above its flat line.

The utilities sector has held a modest gain since the early going, thanks to an uptick in Treasury yields. That being said, the 10-yr note has erased the bulk of its loss, leaving the 10-yr yield higher by a basis point at 2.34% after testing the 2.37% level earlier.

Meanwhile, the remaining sectors have retreated in unison, paced by the consumer discretionary space. Quarterly earnings have contributed to the underperformance with Priceline (PCLN 1318.35, -131.55) surrendering 9.1% after below-consensus guidance overshadowed better than expected results.

Elsewhere among cyclical sectors, the energy space trades lower by 1.5% after showing a brief gain in the early going. The economically-sensitive sector has been chased lower by crude oil, which trades down 1.3% at $43.72/bbl. On a separate note, Apache (APA 52.88, +5.20) has spiked 10.9% after Bloomberg reported that the company received and rejected an unsolicited $18-billion takeover offer.

12:25 pm:

[BRIEFING.COM] Recent action saw the S&P 500 (-1.3%) mark a fresh session low with the consumer discretionary sector (-1.9%) remaining at the bottom of the leaderboard.

All in all, today's retreat has been pretty orderly with the market marching lower since the opening bell. Just about every sector has taken part in the pullback while the countercyclical utilities space (+0.2%) outperforms. However, today's gain represents just a small victory for the sector, considering the group remains lower by 3.4% for the month.

Barring an afternoon turnaround, the S&P 500 is on track to register its fourth consecutive decline. The benchmark index currently hovers about seven points above its 200-day moving average (2,063), which is an area that had provided support to the market two weeks ago.

11:55 am:

[BRIEFING.COM] Not much change in today's trading dynamic as equity indices remain pressured with the S&P 500 (-1.4%) hitting a fresh session low within the past few minutes. The benchmark index has retreated steadily since the opening bell, erasing its entire gain from last week.

Interestingly, the S&P 500 was able to end Friday's session little changed despite the October Employment report, which increased the odds of a fed funds rate hike taking place at the upcoming December policy meeting. However, the index has not been able to holds its ground today.

Cyclical sectors have paced today's retreat, but the selling pressure has been apparent almost everywhere with nine sectors showing losses of 1.0% or more while the utilities space (+0.1%) outperforms. The sector has retreated amid an uptick in Treasury yields, but it is worth noting that the 10-yr yield is now up just two basis points at 2.35% after testing the 2.37% level earlier.

11:25 am:

[BRIEFING.COM] Equity indices have added to their losses with the S&P 500 widening its decline to 1.2%.

With the steady retreat off its opening levels, the benchmark index has surrendered its entire gain from last week and now trades lower by 0.2% so far in November.

The discretionary sector (-1.8%) remains at the bottom of the leaderboard while the remaining cyclical sectors display slimmer losses. That being said, the financial sector (-0.9%) is the only group showing a smaller decline than 1.0%. Despite today's drop, the financial sector remains higher by 1.7% in November

10:55 am:

[BRIEFING.COM] The major averages continue hovering near their lowest levels of the day after slipping beneath their worst levels from Friday. The S&P 500 is now down 0.9% with eight sectors trading in the red while the countercyclical utilities sector (+0.5%) outperforms.

On the downside, another countercyclical group-telecom services (-1.0%)-started the day behind its peers, but energy (-1.3%) and consumer discretionary (-1.3%) have slipped behind the telecom space in recent going. Like the energy sector, crude oil is back in negative territory, trading lower by 0.7% at $44.00/bbl.

Elsewhere, Treasuries have ticked up off their lows, but they continue holding more than half of their losses with the 10-yr yield up three basis points at 2.36%.

10:35 am: [BRIEFING.COM]

The dollar index trended moderately lower overnight, pulling back modestly from last week's run-up on December US rate-hike expectations
The dollar saw gains against the yen particularly, and rallied in later-am trading to near the flatline
Upcoming catalysts this week for the dollar include US import/export pricing released tomorrow and unemployment data (due out Thursday)
The index is now near flat at -0.2% to 99.13
WTI trended strongly higher overnight, amidst an interplay between the weak dollar and under-whelming import/export data out of China
Exports for October fell 6.9% (vs. a -3% consensus), while imports dropped sharply by 18.8% (vs. a -16% consensus)
December crude saw a heavy sell-off in early trade however, as commentary from the Saudi Minister of Petroleum indicated that the country would not deviate from its production-target; additionally forecasting a 3-8% reduction in oil-related global investment for 2016.
OPEC's meeting on December 4th is noteworthy, as a probable large catalyst for the commodity in the intermediate-term.
WTI is now down for the session, at -1.2% to $43.77/barrel
Natural gas is getting pummeled this morning, as forecasts are calling for additional warm-weather patterns across the US in the month of November.
December nat gas is now -2.9% to $2.30/MMBtu
Precious metals are trading at near-flat or moderately lower, following the dollar's late morning rally and on expectations for the December FOMC meeting
Gold is +0.2% to $1089.60/oz and silver is -1% to $14.55/oz
Copper is modestly lower this morning, at -0.1% to $2.24/lb

9:55 am:

[BRIEFING.COM] Equity indices remain near their session lows with the S&P 500 trading lower by 0.6%.

The energy sector had shown a modest gain at the start, but the group now trades lower by 0.5% even though crude oil remains higher by 0.3% at $44.42/bbl.

Elsewhere, four sectors trade behind the broader market with consumer discretionary (-1.0%) showing the largest decline with shares of Priceline (PCLN 1379.92, -69.98) trading lower by 5.0% after below-consensus guidance overshadowed better than expected results.

9:40 am:

[BRIEFING.COM] As expected, the major averages began the trading day on the defensive. The S&P 500 is lower by 0.4% with nine sectors showing opening losses.

The telecom services sector (-0.9%) opened at the bottom of the leaderboard while eight of the remaining nine groups hold losses between 0.1% (financials) and 0.7% (consumer staples). Elsewhere, the energy sector (+0.2%) has climbed into the green amid a modest increase in crude oil that has the energy component trading higher by 0.2% at $44.40/bbl.

Treasuries have extended their losses with the 10-yr yield now up four basis points at 2.37%.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -13.10.

The stock market is on track for a modestly lower open with S&P 500 futures trading six points below fair value after slipping to lows roughly three hours ago.

Despite the downtick in futures, the morning has been very quiet with investors responding to the last sizeable batch of Q3 earnings reports. Most notably, Priceline (PCLN 1369.00, -80.90) is on track to open lower by 5.6% after below-consensus guidance overshadowed better than expected results. In other news of note, Weyerhaeuser (WY 28.86, -1.54) has agreed to merge with Plum Creek (PCL 45.60, +5.31).

Investors did not receive any economic data today, but China reported its latest trade figures over the weekend. The October trade surplus came in at $61.64 billion (expected $64.75 billion), which represented a ten-year high, but exports declined 6.9% (consensus -3.0%), representing the fourth consecutive monthly decline. All in all, the data did little to alleviate concerns about a slowdown in Chinese growth.

Similar to equity futures, Treasuries hover in the red with the 10-yr yield up almost three basis point at 2.35%.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -5.70. Nasdaq futures vs fair value: -11.60.

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

The Asian equity markets closed mixed today. Starting in China, the Shanghai Composite posted a 1.6% gain today. The Mainland reported the day's most significant data point with the release of its October Trade Balance, which came in below expectations at $61.50 bln (expected $62.20 bln), but represented the largest trade surplus in nearly 20 years. However the underlying components proved to be weaker than expected with exports falling 6.9% (expected -3.8%), and imports dropping 18.8% (expected 15.0%). The weaker than expected data did not seem to impact the equities nearly as much as it has in the past. This may be attributed to local reports that the CSRC is set to ramp up IPO launches again, which implies relative confidence that the equity markets have stabilized. In Japan, the weakness in the yen following the NFP data on Friday help the Nikkei post a 2% gain on the session. USDJPY hit the highest level in 3 months, topping off at 123.60. Exporters were notably higher in response.

In economic data:
China's October trade surplus $61.64 billion (expected $64.75 billion; prior $60.34 billion) as exports -6.9% (consensus -3.0%; prior -3.7%) and imports -18.8% (expected -16.0%; last -20.4%)
Japan's Average Cash Earnings +0.6% year-over-year (consensus 0.5%; prior 0.4%) and September Overtime Pay +1.4% year-over-year (last 1.5%)
Australia's ANZ Job Advertisements +0.4% month-over-month (last 3.8%)

------

Japan's Nikkei increased 2.0%, led by the Consumer Discretionary sector (+2.6%) which saw benefit from the yen's weakness and the better than expected NFP data. Utilities (-0.5%) was the only sector under water for the session. Automakers were also stronger today after Isuzu Motors (+3.3%) and Yamaha Motor (+3.9%) both posted better than expected earnings results.
Hong Kong's Hang Seng declined 0.6%. Leading the way lower were energy names and telecoms. Among the market laggards were CNOOC (-2.5%), while Sinopec and PetroChina slipped 1.5%. Meanwhile, China Unicom fell 2.1%.
China's Shanghai Composite finished 1.6% higher today with brokerage stocks being the beneficiary of the reports that IPOs would be set to begin again. As such, CITIC Securities and China Galaxy Securities both closed up 2.1%. Another stand out was CICC, which closed up +9.5% after the company began trading today following its IPO.

Major European indices trade lower across the board with France's CAC (-0.4%) trailing the region. Elsewhere, the Eurogroup is expected to withhold a EUR2.00 billion bailout payment for Greece due to a disagreement over foreclosure rules. On a separate note, Portuguese equities have faced some selling pressure amid expectations that a new alliance between opposition socialists and other far left parties will bring down the recently-formed center-right government. The PSI 20 is down near 3.0% in Lisbon.

Economic data was limited:
Eurozone November Sentix Investor Confidence 15.1 (expected 13.2; last 11.7)
Germany's September trade surplus EUR19.40 billion (expected EUR20.00 billion; previous EUR19.60 billion) as exports +2.6% (consensus 2.1%; prior -5.2%) and imports -3.6% (expected 0.9%; last -3.2%)

------

UK's FTSE hovers just below its flat line with consumer names on the defensive, InterContinental Hotels, Taylor Wimpey, and Unilever show losses between 1.3% and 3.5%. On the upside, financials outperform with Aberdeen Asset Management, Barclays, Standard Chartered, and HSBC showing gains between 1.1% and 2.6%.
Germany's DAX is lower by 0.2% with Continental leading the retreat. The stock has surrendered 5.2% in reaction to disappointing results. Drugmakers also lag with Bayer and Merck down 0.9% and 0.5%, respectively. On the upside, Thyssenkrupp has climbed 3.7%.
In France, the CAC trades down 0.4%. Renault is the weakest performer, down 2.3%, while financials BNP Paribas and Societe Generale outperform with losses of 0.2% apiece. Elsewhere, ArcelorMittal has spiked 4.1%.

8:25 am: [BRIEFING.COM] S&P futures vs fair value: -6.70. Nasdaq futures vs fair value: -13.70.

Equity futures continue holding modest losses with S&P 500 futures down seven points below fair value. Futures on the benchmark index have spent the past three hours ranging near their lows while European markets trade with modest losses at this juncture.

Investors did not receive any market-moving earnings reports this morning as the Q3 reporting season winds to a close. That being said, Priceline (PCLN 1367.00, -84.90) is on track to open lower by 5.8% after below-consensus guidance overshadowed better than expected results, which is likely to weigh on the consumer discretionary sector.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -6.60. Nasdaq futures vs fair value: -15.20.

U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures hover seven points below fair value after slipping from their highs prior to the start of the European session.

Similar to equity futures, Treasuries hover in the red with the 10-yr yield up one basis point at 2.34%.

Investors will not receive any economic data today.

In U.S. corporate news of note:

Priceline Group (PCLN 1340.00, -109.90): -7.6% after below-consensus guidance overshadowed better than expected results.
Apache (APA 54.23, +6.56): +13.8% after rejecting an $18.00 billion takeover offer, according to Bloomberg.
Weyerhaeuser (WY 29.50, -0.90): -3.0% after agreeing to merge with Plum Creek (PCL 47.00, +6.71)
Plug Power (PLUG 2.44, -0.32): -11.6% in reaction to below-consensus earnings on better than expected revenue.

Reviewing overnight developments:

Asian markets ended mostly lower. Hong Kong's Hang Seng -0.6%, China's Shanghai Composite +1.6%, and Japan's Nikkei +2.0%
In economic data:
China's October trade surplus $61.64 billion (expected $64.75 billion; prior $60.34 billion) as exports -6.9% (consensus -3.0%; prior -3.7%) and imports -18.8% (expected -16.0%; last -20.4%)
Japan's Average Cash Earnings +0.6% year-over-year (consensus 0.5%; prior 0.4%) and September Overtime Pay +1.4% year-over-year (last 1.5%)
Australia's ANZ Job Advertisements +0.4% month-over-month (last 3.8%)
In news:
China's trade surplus hit its highest level in ten years, but the fourth consecutive monthly drop in exports was a bit concerning

Major European indices trade lower across the board. France's CAC -0.6%, Germany's DAX -0.4%, and UK's FTSE -0.1%. Elsewhere, Italy's MIB -0.5% and Spain's IBEX -0.3%
Economic data was limited:
Eurozone November Sentix Investor Confidence 15.1 (expected 13.2; last 11.7)
Germany's September trade surplus EUR19.40 billion (expected EUR20.00 billion; previous EUR19.60 billion) as exports +2.6% (consensus 2.1%; prior -5.2%) and imports -3.6% (expected 0.9%; last -3.2%)
Among news of note:
The Eurogroup is expected to withhold a EUR2.00 billion bailout payment for Greece due to a disagreement over foreclosure rules.
Portuguese equities have faced some selling pressure amid expectations that a new alliance between opposition socialists and other far left parties will bring down the recently-formed center-right government. The PSI 20 is lower by 2.4% in Lisbon.

5:58 am: [BRIEFING.COM] S&P futures vs fair value: -6.80. Nasdaq futures vs fair value: -9.90.

5:58 am: [BRIEFING.COM] Nikkei...19642.74...+377.10...+2.00%. Hang Seng...22726.77...-140.60...-0.60%.

5:58 am: [BRIEFING.COM] FTSE...6356.13...+2.30...+0.00%. DAX...10952.69...-36.70...-0.30%.

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 4 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