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 Post subject: November 12th Thursday Trade Results - Profit $5712.50
PostPosted: Fri Nov 13, 2015 6:30 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $5712.50 dollars or +114.25 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $5712.50 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=149&t=2218

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.

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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 could not avoid its second consecutive retreat on Thursday with the S&P 500 (-1.4%) falling below its 200-day moving average (2,064). The benchmark index retreated throughout the session while the Nasdaq Composite (-1.2%) settled a step ahead.

Equity indices faced selling pressure from the get-go with the early weakness following a cautious session in Europe where markets in France, Germany, and Spain lost between 1.2% and 2.3%. Things did not improve by the start of the New York Session, which led to opening losses in nine of ten sectors.

Most notably, the energy sector (-2.4%) struggled from the start and the significant underperformance in the growth-sensitive group set the tone for a down day. The sector widened this week's decline to 5.4% while crude oil fell 2.7% to $41.78/bbl.

Similar to energy, the materials sector (-2.0%) finished at the bottom of the leaderboard while other groups posted slimmer losses. For instance, the top-weighted technology sector (-0.9%) outperformed throughout the session, which prevented a bigger decline from unfolding.

Elsewhere on the cyclical side, the consumer discretionary space (-1.0%) settled ahead of the broader market thanks to gains in select apparel retailers after Kohl's (KSS 45.82, +2.66) reported better than expected results. Shares of KSS spiked 6.2% while the SPDR S&P Retail ETF (XRT 44.05, -0.57) could not stay out of the red, falling 1.3%.

Moving to the countercyclical side, the utilities sector (-1.2%) held a slim gain at the start, but could not hold its ground into the afternoon. The rate-sensitive group settled just ahead of the S&P 500 while consumer staples (-1.4%) and health care (-1.8%) registered wider losses. Biotechnology contributed to the underperformance in health care with the iShares Nasdaq Biotechnology ETF (IBB 320.11, -6.74) dropping below its 50-day moving average (325.10). The high-beta ETF fell 2.1%, extending this week's decline to 3.1%.

Unlike stocks, Treasuries spent the day in the green, forcing the 10-yr yield lower by a basis point to 2.32%.

Today's participation was essentially in line with recent averages as 850 million shares changed hands at the NYSE floor.

Economic data included Initial Claims, JOLTS, and the Treasury Budget:

Weekly initial claims were unchanged from the prior week at 276,000 (Briefing.com consensus 269,000) while continuing claims for the week ending October 31 rose by 5,000 to 2.174 million (Briefing.com consensus 2.155 mln) from an upwardly revised 2.169 million (from 2.163 million)
Initial claims have ranged primarily between 250,000 and 300,000 since July 2014, so there was nothing out of the ordinary about the latest claims report, which wasn't influenced by any special factors
The four-week moving average for initial claims increased by 5,000 to 267,750, which is near levels seen in April 2000
The September Job Openings and Labor Turnover Survey showed that job openings increased to 5.526 million from 5.377 million
The Treasury Budget statement for October showed a deficit of $136.00 billion (Briefing.com consensus -$130.00 billion)
The Treasury data are not seasonally adjusted so the October deficit cannot be compared to the $91.10 billion surplus recorded in September

Tomorrow, October PPI (Briefing.com consensus 0.1%) and October Retail Sales (consensus 0.3%) will be reported at 8:30 ET while September Business Inventories (expected 0.0%) and the preliminary reading of the Michigan Sentiment Index for November (consensus 92.0) will be released at 10:00 ET.

Nasdaq Composite +5.7% YTD
S&P 500 -0.6% YTD
Dow Jones Industrial Average -2.1% YTD
Russell 2000 -4.0% YTD

3:40 pm: [BRIEFING.COM]

The dollar index remained in the red this afternoon, but this didn't do much for some commodities
WTI crude oil remained in the red today, closing the session -2.7% at $41.78/barrel
Dec nat gas gained +0.4% at $2.27/MMBtu, but mostly remained consolidated
Gold recovered off of today's low, finishing the session -0.4% at $1081/oz. Dec silver fell -0.4% to $14.24/oz
Copper remained near today's LoD, closing -2.3% at $2.17/lb

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 1.0% with one hour remaining in the session. The benchmark index has marked a fresh low in recent going with all ten sectors remaining deep in the red.

Elsewhere, Treasuries are on track to end the day with modest gains, but it is worth noting that the 10-yr note has backed away from its high even though equities have added to their early-afternoon losses. As a result, the 10-yr yield is on track to end the day lower by a basis point at 2.32%.

Also of note, today's retreat in stocks has caused participants to adjust their hedges, evidenced by a spike in the CBOE Volatility Index (VIX 17.85, +1.79), which is now back at levels last seen in mid-October.

2:25 pm:

[BRIEFING.COM] Not much change in the market as the key indices remain near their worst levels of the day. Equity indices stumbled at the start and they have traded in negative territory since then.

The S&P 500 (-1.0%) attempted to put together a rebound 90 minutes into the trading day, but that brief move higher has been followed by a slide to new lows. All ten sectors trade in the red at this juncture with six sectors down 1.0% or more. The energy sector (-1.9%) has underperformed since the start and the group remains behind other sectors at this time.

2:00 pm:

[BRIEFING.COM] The S&P 500 trades lower by 0.7%.

The Treasury Budget statement for October was just released and it showed a deficit of $136.00 billion (Briefing.com consensus -$130.00 billion). The Treasury data are not seasonally adjusted so the October deficit cannot be compared to the $91.10 billion surplus recorded in September.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to drag in negative territory, and have erased their November gains.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 69.55, -2.36), Chevron (CVX 90.35, -1.84), and Goldman Sachs (GS 193.65, -3.74) are underperforming.

Conversely, United Technologies (UTX 99.57, +1.31) is the best-performing Dow component after entering into a $6 bln accelerated repurchase program as part of the closing of the sale of its Sikorsky unit.

With today's decline, the DJIA is down over 2% this week, and 1.6% this year.

Elsewhere, the Treasury's $16 bln 30-year auction at the top of the hour drew a high yield of 3.070% on a bid-to-cover of 2.41.

12:55 pm:

[BRIEFING.COM] The major averages hover near their lows at midday with the S&P 500 trading lower by 0.8% while the Nasdaq Composite (-0.4%) hovers a bit ahead.
Related Quotes

Equity indices have suffered from broad-based weakness through the first half of the Thursday session. Accordingly, all ten sectors show midday losses with five groups down 1.0% or more.

Most notably, the energy sector (-2.1%) has displayed relative weakness since the early going due to aggressive selling in the oil market. To that point, WTI crude is lower by 2.8% at $41.73/bbl after slipping to a new low in recent action. The energy component had attempted a rebound earlier, but that move was rejected in the $42.50/bbl area after the EIA inventory report showed a 4.224 million barrel build while the consensus expected inventories to grow by 1.200 million. Including today's decline, the energy sector is now down 5.3% for the week.

Elsewhere among cyclical sectors, financials (-1.0%) and industrials (-0.9%) also trade behind the broader market while technology (-0.4%) and consumer discretionary (-0.5%) have stayed a bit ahead for the time being. In the discretionary sector, apparel retailers trade in mixed fashion while Kohl's (KSS 45.48, +2.32) is higher by 5.4% after beating bottom-line estimates on in-line revenue.

The first half of today's session has not been much kinder to the countercyclical side as consumer staples (-1.1%) and utilities (-1.1%) trade among the laggards while health care (-0.7%) and telecom services (-0.7%) have shown some slight relative strength.

Unlike stocks, Treasuries have held modest gains since the early going with the 10-yr yield down two basis points at 2.31%. Also of note, the Dollar Index (98.64, -0.37) is lower by 0.4% after hitting a fresh low in recent action.

Economic data reported this morning was limited to Initial Claims and JOLTS:

Weekly initial claims were unchanged from the prior week at 276,000 (Briefing.com consensus 269,000) while continuing claims for the week ending October 31 rose by 5,000 to 2.174 million (Briefing.com consensus 2.155 mln) from an upwardly revised 2.169 million (from 2.163 million)
Initial claims have ranged primarily between 250,000 and 300,000 since July 2014, so there was nothing out of the ordinary about the latest claims report, which wasn't influenced by any special factors
The four-week moving average for initial claims increased by 5,000 to 267,750, which is near levels seen in April 2000
The September Job Openings and Labor Turnover Survey showed that job openings increased to 5.526 million from 5.377 million

The October Treasury Budget (consensus -$130.00 billion) will be reported at 14:00 ET.

12:25 pm:

[BRIEFING.COM] Equity indices have been forced to new lows in recent trade with the S&P 500 extending its decline to 1.0%. Including its current loss, the benchmark index is now down 2.1% for the week.

It is worth noting that the slide in equities has occurred alongside some dollar weakness that has pressured the Dollar Index (98.69, -0.32) to a fresh low for the day. The index is now down 0.3% with the greenback surrendering 0.3% to the euro, which trades just below the 1.0800 mark at this juncture. Elsewhere, the dollar has slid 0.1% against the yen, pressuring the dollar/yen pair to 122.75.

On a somewhat related note, Treasuries have held their ground through the recent selling in equities with the 10-yr note remaining near its high (10-yr yield -2 bps at 2.31%).

11:55 am:

[BRIEFING.COM] Recent action saw the key indices slip back to their session lows with the S&P 500 now down 0.8%.

Sector standing has not changed much as energy (-2.1%) and materials (-1.6%) remain at the bottom of the leaderboard. The energy sector has marked a fresh low in recent going and the move has coincided with renewed selling in crude oil.

The energy component traded near the $41.75/bbl area this morning, but had rallied up to $42.50/bbl; however, recent selling has pressured WTI crude back to the $41.80/area (-2.4%). It is worth noting that the recent swoon occurred after the EIA inventory report showed a 4.224 million barrel build while the consensus expected inventories to grow by 1.200 million.

11:25 am:

[BRIEFING.COM] The major averages have ticked up off their lows, but they continue holding the bulk of their losses. The S&P 50 is lower by 0.6% with all ten sectors trading in the red.

Despite the broad weakness, only two groups show losses larger than 1.0% with energy (-1.6%) and materials (-1.4%) trading behind their peers. Fittingly, the two groups have struggled throughout the week as they show respective week-to-date losses of 4.7% and 2.7% while the remaining eight sectors have fared a bit better. Meanwhile, the S&P 500 is lower by 1.7% for the week while the Dow and Nasdaq have surrendered 1.9% since last Friday.

Elsewhere, Treasuries remain near their recent levels with the 10-yr yield down two basis points at 2.32%.

10:55 am:

[BRIEFING.COM] Equity indices remain in negative territory with the Dow (-0.8%) and S&P 500 (-0.6%) trading behind the Nasdaq Composite (-0.4%).

The tech-heavy Nasdaq has shown some relative strength thanks to modest gains in large cap names like Apple (AAPL 116.13, +0.02), Cisco System (CSCO 27.91, +0.09), and Qualcomm (QCOM 52.92, +0.07). In addition, biotech names have fared a bit better than the broader market with the iShares Nasdaq Biotechnology ETF (IBB 326.40, -0.45) trading little changed. Meanwhile, the broader health care sector (-0.5%) remains in negative territory.

Elsewhere, the energy sector (-1.5%) has returned to the bottom of today's leaderboard while crude oil has narrowed its loss to 1.7% at $42.19/bbl.

10:30 am: [BRIEFING.COM]

The dollar index trended negative overnight, before rallying to above the flat-line in early trade- ahead of the morning's US unemployment data
Initial claims came in better than expected at 276K vs. 269K estimates, and continuing claims were 2.17 mln vs. 2.16 mln consensus
Additionally, stimulus commentary from Mario Draghi (indicating more if necessary) highlighted moves in the dollar
The dollar has now fallen in recent trade and is now -0.2% to 98.85
WTI saw a gradual sell-off in early trade-down from modestly positive overnight- in the midst of OPEC releasing its November monthly oil report
World supply growth and demand forecasts were consistent with October, calling for demand of 1.50 mb/d and supply of 1.25 mb/d in 2016
December price action was also driven by the morning's release of EIA storage data, which was expected to show a build in inventories.
Data will be released at 11am ET
Dec crude is -1.5% at $42.29/barrel in current trade
Natural gas has pulled back to modest positives (from early highs) ahead of tomorrow's EIA inventory report. It is now +0.2% to $2.27/MMBtu
Precious metals sold off on the dollar's early strength, but saw a large rally in recent trade (with an inverse move being seen by the dollar)
Gold has since lost steam and is now -0.3% to $1081.30/oz and silver is +0.2% to $14.29/oz
Copper is holding strong losses, following weak factory data out of China (overnight) and a Goldman Sachs note calling for renewed production growth in 2016 and 2017
December copper is now --2.2% to $2.17/lb

10:00 am:

[BRIEFING.COM] The major averages remain near their early lows with the S&P 500 trading down 0.7% while the Nasdaq (-0.5%) hovers a bit ahead.

All ten sectors are now in the red with financials (-1.1%) and materials (-1.1%) slipping behind the energy sector (-0.9%) while the utilities space is now down 0.3% after showing a modest gain at the start.

Just reported, the September Job Openings and Labor Turnover Survey showed that job openings increased to 5.526 million from 5.377 million.

9:40 am:

[BRIEFING.COM] As expected, the major averages began the day under pressure. The S&P 500 trades lower by 0.6% with nine sectors showing opening losses.

To little surprise, the energy sector (-1.8%) has paced the opening retreat as crude oil trades lower by 2.4% at $41.94/bbl. Interestingly, the energy sector is now down 2.6% for the month after gaining 5.0% during the first two November sessions.

Elsewhere, heavily-weighted financials (-0.9%) and industrials (-0.9%) also weigh while the utilities sector (+0.2%) hovers just above its flat line.

Treasuries remain near their best levels of the morning with the 10-yr yield down one basis point at 2.32%.

The September Job Openings and Labor Turnover Survey will be released at 10:00 ET.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: -13.10. Nasdaq futures vs fair value: -21.60.

The stock market is on track for a lower open with S&P 500 futures trading 13 points below fair value. The current standing puts futures near their pre-market lows after the overnight session featured relatively quiet action. That being said, futures have slid to lows alongside crude oil, which trades lower by 2.4% at $41.94/bbl.

This week has been very quiet on the economic data front, but today will be a bit busier. Participants have already received the latest weekly Initial Claims report, which showed that claims remained at 276,000, representing no change from the previous week. Later today, the September Job Openings and Labor Turnover Survey will be released at 10:00 ET while the October Treasury Budget (consensus -$130.00 billion) will be reported at 14:00 ET.

Also of note, today will feature a full slate of Fed speakers with six officials scheduled to deliver remarks. Most notably, Fed Chair Janet Yellen will speak at 9:30 ET.

As for corporate news, a handful of smaller names have reported their results with Kohl's (KSS 45.90, +2.74) on track to open higher by 6.3% after beating bottom-line estimates on in-line revenue.

Treasuries are little changed with the 10-yr yield at 2.33%.

8:51 am: [BRIEFING.COM] S&P futures vs fair value: -6.70. Nasdaq futures vs fair value: -9.20.

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

Thursday night was fairly quiet in the equity complex during the Asian session. Volumes were on the low side, and ranges were fairly tight. The Shanghai closed down 0.5%, managing to recapture some of the losses seen mid-session when the index was down over 1.0%. There was one significant piece of macro data out of the Mainland, which was the release of New Yuan Loans for October which fell well short of expectations at CNY513 bln (expected CNY870 bln). This may impact markets tomorrow since the news was released after the Shanghai Composite had closed for the day. Elsewhere, the Bank of Korea kept its key interest rate at 1.5%, as expected.

In economic data:
China's October New Loans CNY513.60 billion (expected CNY798.20 billion; previous CNY1.05 trillion) and October M2 Money Stock +13.5% year-over-year (expected +13.2%; previous +13.1%)
Japan's October Corporate Goods Price Index -0.6% month-over-month (expected -0.4%; previous -0.5%); -3.8% year-over-year (consensus -3.5%; last -3.9%). Separately, September Core Machinery Orders +7.5% month-over-month (expected 3.3%; prior -5.7%)
India's September Industrial Production +3.6% year-over-year (consensus 4.8%; previous 6.4%)
Australia's MI Inflation Expectations held at 3.5%. Separately, October Employment Change 58,600 (expected 15,000; previous -800) and the Unemployment Rate fell to 5.9% from 6.2% (expected 6.2%)
New Zealand's October FPI -1.2% month-over-month (expected -0.6%; prior -0.5%)

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Japan's Nikkei was unchanged today. Investors flocked to defensive names, with pharmaceuticals gaining nearly 1% today. Ulvac saw a 17.2% advance after it raised its profit guidance. On the flip side, Resona Holdings fell 6.5% after it reported less than stellar H1 results
Hong Kong's Hang Seng rose 2.4% and finished at its highs of the session. Gains were led by Lenovo and Netease, which both reported better than expected quarterly results. Gaming stocks were hot today with Galaxy Ent up 2.8%, while Sands China posted a 3.6% advace.
China's Shanghai Composite declined 0.5% after being down 1.2% shortly after the start of trading. Finacial stocks were under pressure today. Bank of China saw declines of greater than 1.0% while Industrial SEC finished the day 4.3% worse. Among one of the brighter spots was SW Securities, closing up 3.1%.

Major European indices trade lower across the board with Spain's IBEX (-1.9%) showing relative weakness. Also of note, the euro has slipped 0.5% against the dollar to 1.0715 amid rising expectations that the European Central Bank's December meeting will produce a decision to step up easing efforts in the eurozone.

Investors received several data points:
Eurozone September Industrial Production -0.3% month-over-month (expected -0.1%; previous -0.4%); +1.7% year-over-year (consensus 1.3%; previous 2.2%)
Germany's October CPI 0.0% month-over-month, as expected
France's October CPI +0.1% month-over-month, as expected

------

Germany's DAX has given up 0.9% with utility names pacing the slide. RWE and E.On hold respective losses of 7.8% and 2.4% while exporters are mixed. BMW and Daimler are both down near 1.8% while Volkswagen adds 0.1%.
UK's FTSE is lower by 1.0% with more than 60% of its components trading in the red. Rolls-Royce has plunged 22.1% after lowering its outlook and hinting at a possible dividend cut. Miners also lag with Glencore, Anglo American, and Antofagasta down between 3.9% and 8.9%. Telecom and utility names outperform with BT Group and National Grid both up near 2.0%.
In France, the CAC trades down 1.5%. ArcelorMittal is the weakest component, down 4.8%, while Airbus Group and Safran show losses close to 2.0% apiece. On the upside, Veolia Environnement outperforms, trading higher by 0.9%.
Spain's IBEX has surrendered 1.9% amid broad weakness. Growth-sensitive names lag with Repsol, ArcelorMittal, and FCC down between 3.8% and 6.5%. Financials like Bankia, Santander, and Caixabank have also struggled, showing losses between 2.0% and 2.6%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -5.70. Nasdaq futures vs fair value: -11.00.

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

The latest weekly initial jobless claims count totaled 276,000 while the Briefing.com consensus expected a reading of 269,000. Today's tally was in line with the unrevised prior week count of 276,000. As for continuing claims, they rose to 2.174 million from 2.169 million.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: -1.40. Nasdaq futures vs fair value: -2.50.

U.S. equity futures trade little changed amid cautious action overseas. The S&P 500 futures trade within two points of fair value after spending the night inside an 11-point range.

Investors will receive a few economic data points today with weekly Initial Claims (Briefing.com consensus 269,000) set to be released at 8:30 ET while September Job Openings and Labor Turnover Survey and October Treasury Budget (consensus -$130.00 billion) will be reported at 10:00 ET and 14:00 ET, respectively.

Treasuries have inched higher with the 10-yr yield down one basis point at 2.33%; however, the bond market could be on the move today with six Fed officials scheduled to speak throughout the day.

In U.S. corporate news of note:

Kohl's (KSS 47.50, +4.34): +10.1% after beating bottom-line estimates on in-line revenue.
Advance Auto Parts (AAP 180.30, -14.37): -7.4% after missing estimates and lowering its guidance.

Reviewing overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng +2.4%, China's Shanghai Composite -0.5%, and Japan's Nikkei ended flat.
In economic data:
China's October New Loans CNY513.60 billion (expected CNY798.20 billion; previous CNY1.05 trillion) and October M2 Money Stock +13.5% year-over-year (expected +13.2%; previous +13.1%)
Japan's October Corporate Goods Price Index -0.6% month-over-month (expected -0.4%; previous -0.5%); -3.8% year-over-year (consensus -3.5%; last -3.9%). Separately, September Core Machinery Orders +7.5% month-over-month (expected 3.3%; prior -5.7%)
India's September Industrial Production +3.6% year-over-year (consensus 4.8%; previous 6.4%)
Australia's MI Inflation Expectations held at 3.5%. Separately, October Employment Change 58,600 (expected 15,000; previous -800) and the Unemployment Rate fell to 5.9% from 6.2% (expected 6.2%)
New Zealand's October FPI -1.2% month-over-month (expected -0.6%; prior -0.5%)
In news:
The Bank of Korea made no changes to its policy stance, keeping its key interest rate at 1.5%, as expected

Major European indices trade lower across the board. France's CAC -0.8%, UK's FTSE -0.6%, and Germany's DAX -0.5%. Elsewhere, Italy's MIB -0.9% and Spain's IBEX -1.1%
Investors received several data points:
Eurozone September Industrial Production -0.3% month-over-month (expected -0.1%; previous -0.4%); +1.7% year-over-year (consensus 1.3%; previous 2.2%)
Germany's October CPI 0.0% month-over-month, as expected
France's October CPI +0.1% month-over-month, as expected
Among news of note:
The euro has slipped 0.5% against the dollar to 1.0715 amid rising expectations that the European Central Bank's December meeting will produce a decision to step up easing efforts in the eurozone.

5:51 am: [BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -2.50.

5:51 am: [BRIEFING.COM] Nikkei...19697.77...+6.40...+0.00%. Hang Seng...22888.92...+536.80...+2.40%.

5:51 am: [BRIEFING.COM] FTSE...6257.18...-40.20...-0.60%. DAX...10851.55...-56.30...-0.50%.

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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