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 Post subject: November 18th Wednesday Trade Results - Profit $3560.00
PostPosted: Thu Nov 19, 2015 5:09 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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 @ $60.00 dollars or +0.60 points, Emini ES ($ES_F) futures @ $3500.00 dollars or +70.00 points, Light Crude Oil CL ($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 @ $3560.00 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=2222

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


4:05 pm: [BRIEFING.COM] The stock market ended the midweek session on a broadly higher note with the Nasdaq Composite leading the way. The tech-heavy Index spiked 1.8% while the S&P 500 (+1.6%) followed not far behind, charging back above its 200-day moving average (2,065).

Equity indices climbed out of the gate, continuing their steady charge into the afternoon and through the release of FOMC minutes from the October meeting, which left little doubt that the Fed is poised to raise rates at the December meeting. Specifically, the minutes indicated that "it may well become appropriate to initialize the normalization process at the next meeting, provided that unanticipated shocks do not adversely affect the economic outlook."

To be fair, it would be hard to categorize the statement as hawkish if one were to judge solely based on the market's reaction to the commentary as Treasuries charged back to unchanged (10-yr yield 2.27%) while the dollar ticked lower against the euro.

All ten sectors ended the day in positive territory with eight groups adding more than 1.0%. The financial sector (+1.8%) settled near the top of the leaderboard, driven higher by solid gains among the likes of Bank of America (BAC 17.84, +0.41), Citigroup (C 54.98, +1.49), and JPMorgan Chase (JPM 67.45, +1.32). The three names gained between 2.0% and 2.8%, benefiting from rising rate hike expectations.

Elsewhere, the energy sector (+1.6%) also posted a solid gain, but not before seeing some intraday volatility. The commodity-sensitive group led at the start, but made a brief appearance in the red amid a late-morning pullback in crude oil. WTI crude ended higher by 0.4% at $41.95/bbl after sliding from its session high near $41.53/bbl. Interestingly, the pullback developed after the latest storage report from the Energy Information Administration showed a smaller than expected inventory build (252,000 barrels; expected 2.0 million barrels).

Staying on the cyclical side, the top-weighted technology sector (+1.6%) settled in line with the broader market, masking a 3.2% spike in the shares of Apple (AAPL 117.29, +3.60), which was brought on by news that Goldman Sachs added the stock to its Conviction Buy List. Also of note, the PHLX Semiconductor Index gained 1.0%, overshadowing an 8.5% surge in Fairchild Semiconductor (FCS 19.40, +1.52) after the company agreed to be acquired by ON Semiconductor (ON 9.89, -0.85) for $20/share.

Over on the countercyclical side, the health care sector (+2.0%) spent the bulk of the session in a position of relative strength while consumer staples (+1.4%), telecom services (+0.8%), and utilities (+0.7%) underperformed. As for health care, the sector was boosted by biotechnology, evidenced by a 2.9% spike in iShares Nasdaq Biotechnology ETF (IBB 338.74, +9.60), which registered its fourth consecutive advance.

Today's participation was ahead of average as more than 850 million shares changed hands at the NYSE floor.

Economic data reported this morning was limited to Housing Starts and MBA Mortgage Index:

The October Housing Starts report was a disappointment as starts declined 11.0% to a seasonally adjusted annual rate of 1.060 million units from a downwardly revised 1.191 million in September (from 1.206 million)
The Briefing.com consensus expected a reading of 1.173 million
The downturn was driven by a 25.1% decline in multifamily starts, which followed on the heels of an 18.1% increase in September. A natural pullback was expected after the big September increase, yet the drop was more pronounced than many had thought.
There wasn't a pickup in single-family starts either as they dropped 2.4% to 722,000, led by a 6.9% decline in the South
The weekly MBA Mortgage Index rose 6.2% to follow last week's 1.3% decline

Tomorrow, weekly Initial Claims (Briefing.com consensus 272,000) and the November Philadelphia Fed Survey (expected -1.0) will be reported at 8:30 ET while the October Leading Indicators report (consensus 0.6%) will be released at 10:00 ET.

Nasdaq Composite +7.2% YTD
S&P 500 +1.2% YTD
Dow Jones Industrial Average -0.5% YTD
Russell 2000 -2.6% YTD

3:30 pm: [BRIEFING.COM]

Precious metals climbed modestly higher following the FOMC minutes
In pit trading, however, Dec gold finished +0.10 higher at $1068.70/oz, while Dec silver -0.5% to $14.10/oz
Currently, gold is $1070.50 and silver is $14.15/oz
WTI crude oil has been climbing higher since it's late-morning LoD of $41.28/barrel.
Jan crude finished floor trade at $41.95/barrel, which is $0.18 higher, but rose at high as $42.21/barrel by 3:15pm ET
Natural gas futures consolidated in the afternoon session... no real action. Dec nat gas closed the day -0.9% to $2.35/MMBtu

3:00 pm:

[BRIEFING.COM] The market continues to sport healthygains heading into the final hour of trading. The major indices are all near their highs for the day as gains have been logged in every S&P 500 economic sector.

The financial sector (+1.5%) has been a standout in the latter respect, with traders anticipating the benefit to banks' net interest margins that will result from higher interest rates. On that note, the market is running with the assumption following the release of the minutes from the October 27-28 FOMC meeting that the Fed is inclined to raise the fed funds rate at its December 15-16 FOMC meeting.

Today's gains have driven the S&P 500 up through resistance at its 200-day simple moving average (2064), which has now pivoted to an area of support.

The buying interest has not been limited to large-cap issues though. Small caps are also going along for the ride, evidenced by the 1.1% advance in the Russell 2000.

2:25 pm:

[BRIEFING.COM] Recent action saw the market climb to a new high with S&P 500 extending its gain to 1.1% while the Nasdaq Composite (+1.3%) outperforms. Strikingly, the market has lurched higher even though the recently-released FOMC minutes revealed that the Federal Reserve is set to raise the fed funds rate at the December meeting.

Nine sectors trade in the green at this juncture with five showing gains of 1.0% or more. The health care sector (+1.4%) remains ahead of its peers while financials (+1.3%), consumer discretionary (+1.2%), and materials (+1.2%) follow right behind.

Also of note, crude oil has climbed out of the red with the pit close approaching momentarily. As a result, WTI crude is on track to end the day flat at $40.66/bbl. On a related note, the energy sector is back in the green, trading higher by 0.6%.

2:05 pm:

[BRIEFING.COM] The Federal Reserve has just released the minutes from its latest policy meeting, which indicated that most officials have agreed on a gradual removal of accommodation. With that in mind, the committee anticipates that economic conditions could warrant a rate hike in December.

Interestingly, the dollar has slipped lower against the euro after an initial move higher. The currency pair currently hovers near 1.0642, while the dollar/yen pair trades at 123.55 after a brief spike to 123.75.

Elsewhere, Treasuries have reclaimed their losses, returning to unchanged with the 10-yr yield at 2.27%.

Also of note, stocks have essentially held their ground with the S&P 500 remaining higher by 0.7% at this juncture.

1:30 pm:

[BRIEFING.COM] The major U.S. indices continue to push higher in mid-day trading with stocks near their session highs.

A look inside the Dow Jones Industrial Average shows that Apple (AAPL 116.61, +2.92), Nike (NKE 125.00, +2.42), and JPMorgan (JPM 67.20, +1.07) are outperforming. Apple shares are leading the Dow higher after getting a nod from Goldman Sachs, with the firm adding the tech giant to its Conviction Buy List.

Conversely, Verizon (VZ 44.90, -0.18) is the worst-performing Dow component as telecoms lag.

With today's rally, the DJIA is now up over 2.2% this week.
Related Quotes



12:55 pm:

[BRIEFING.COM] The major averages hover near their best levels of the day with the Dow, Nasdaq, and S&P 500 all showing gains between 0.8% and 0.9%.

Equity indices have climbed since the opening bell with cyclical sectors pacing the rally. The energy sector (-0.1%) was up as much as 1.5% at the start of the trading day, but the commodity-sensitive group has stumbled amid a turnaround in crude oil. To that point, WTI crude trades down 1.3% at $40.15/bbl after diving from its high near $41.53/bbl. The intraday turnaround occurred after the release of the latest Energy Information Administration storage report, even though the report showed a smaller than expected inventory build (252,000 barrels; expected 2.0 million barrels). Accordingly, the energy sector has pulled back, but other groups have filled the void.

Staying on the cyclical side, the financial sector (+1.1%) trades comfortably ahead of the broader market while the top-weighted technology sector (+0.8%) has kept pace with the benchmark index. High-beta chipmakers underperform with the PHLX Semiconductor Index trading higher by 0.3%, but that relative weakness has been offset by a 2.6% spike in the shares of Apple (AAPL 116.67, +2.98) after Goldman Sachs added the stock to its Conviction Buy List.

Also of note, the modest gain in the chipmaker space has masked an 8.5% surge in Fairchild Semiconductor (FCS 19.40, +1.52) after the company agreed to be acquired by ON Semiconductor (ON 9.96, -0.78) for $20/share.

Moving to the countercyclical side, telecom services (-0.3%) and utilities (-0.6%) have struggled since the start while the health care sector (+1.2%) holds the lead thanks to a solid showing from the biotech space. The iShares Nasdaq Biotechnology ETF (IBB 334.10, +4.96) is higher by 1.5%, looking to register its fourth consecutive gain.

Economic data reported this morning was limited to Housing Starts and MBA Mortgage Index:

The October Housing Starts report was a disappointment as starts declined 11.0% to a seasonally adjusted annual rate of 1.060 million units from a downwardly revised 1.191 million in September (from 1.206 million)
The Briefing.com consensus expected a reading of 1.173 million
The downturn was driven by a 25.1% decline in multifamily starts, which followed on the heels of an 18.1% increase in September. A natural pullback was expected after the big September increase, yet the drop was more pronounced than many had thought.
There wasn't a pickup in single-family starts either as they dropped 2.4% to 722,000, led by a 6.9% decline in the South
The weekly MBA Mortgage Index rose 6.2% to follow last week's 1.3% decline

The Federal Reserve will release the minutes from its October meeting at 14:00 ET.

12:25 pm:

[BRIEFING.COM] Equity indices remain near their recent levels with the S&P 500 trading higher by 0.8%.

Although the stock market has not gone anywhere in recent action, the same cannot be said for crude oil, which now trades lower by 0.8% at $40.35/bbl after sliding from its session high near $41.53/bbl. The energy component surrendered its gain even though an EIA inventory report showed a smaller than expected build (252,000 barrels; expected 2.0 million barrels).

The turnaround in crude oil has pressured the energy sector (+0.6%) from its high, but the group remains solidly in the green. Meanwhile, the remaining cyclical sectors show gains between 0.7% (materials) and 0.9% (financials).

Elsewhere, Treasuries have reclaimed all of their morning losses with the 10-yr yield back to 2.27%.

11:55 am:

[BRIEFING.COM] Recent action saw the stock market extend its advance with the S&P 500 now up 0.9%.

As mentioned in our previous update, the health care sector (+1.3%) has seized the lead in recent going with biotechnology fueling that move. The iShares Nasdaq Biotechnology ETF (IBB 334.64, +5.50) trades higher by 1.7% today, extending this week's gain to 3.4%. The high-beta ETF ended last week just below its 50-day moving average (323.88), but was able to close north of that level on Monday. Thanks to today's advance, IBB is now back at levels last seen on November 5.

Elsewhere among countercyclical sectors, consumer staples (+0.8%) trade just behind the broader market while telecom services (-0.2%) and utilities (-0.2%) have spent the early action in negative territory.

11:25 am:

[BRIEFING.COM] The key indices have inched up to their opening highs, but the overall trading dynamic remains unchanged with eight sectors showing solid gains.

The energy sector was up about 1.5% at the start of the trading day, but the sector has narrowed its gain to 0.8%. However, other groups have built on their gains with health care (+0.9%) overtaking the energy sector thanks to relative strength in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 332.94, +3.80) is higher by 1.1%, which is contributing to relative strength in the Nasdaq (+0.7%).

To be fair, large cap tech names have held their own for the most part with Apple (AAPL 117.25, +3.56) surging 3.1% after Goldman Sachs added the stock to its Conviction Buy List.

10:55 am:

[BRIEFING.COM] The major averages have spent the first 90 minutes of the session inside narrow ranges just below their session highs. Accordingly, the Dow, Nasdaq, and S&P 500 all show gains close to 0.5% apiece.

The energy sector (+1.0%) was at the forefront of the opening move higher and the group remains in the lead at this juncture. The growth-sensitive sector has held its ground despite a pullback in crude oil, which has narrowed its gain to 0.8% at $41.01/bbl. Interestingly, WTI crude has slipped from its high despite the Energy Information Administration's latest storage report, which showed a smaller than expected inventory build (252,000 barrels; expected 2.0 million barrels).

Thanks to today's advance, the energy sector is now up 3.2% for the week versus a 1.9% gain in the S&P 500.

10:35 am: [BRIEFING.COM]

The dollar traded flat overnight, before slumping to negative for the session (reaching a low near 99.30) ahead of morning US housing data
Data released showed relatively weak Housing Starts of 1.06 mln for October (vs. a 1.17 mln est.) and in-line Building Permits (1.15 mln vs. 1.13 est.)
The index then saw modest bounce, as the afternoon's FOMC minute release (at 2 pm ET) gave market sentiment a bullish tilt. The dollar now stands modestly lower at -0.1% to 99.69
WTI trended higher all session following last night's API inventory report (which showed a 482K storage draw), and ahead of the morning's EIA storage data.
Upon release of the data, which showed a 252K barrel build, January crude fell lower but is still +0.9% to $41.02/barrel
Natural gas has pulled back from yesterday's losses (which were driven by an upward EIA inventory build revision) early, but has failed to hold those gains into recent trade.
December nat gas is now -1.3% to $2.34/MMBtu
Precious metals have traded in a modest range around the flat-line, largely on sentiment ahead of the Fed's minute release this afternoon.
Gold currently stands at -0.1% to $1068.00/oz and silver is -0.8% to $14.07/oz
Copper is seeing losses so far this session, amidst commentary from Chiles' Codelco which stated that cost-cutting are its priority in the face of falling prices, rather than a curb in output.
The miner recently cut its Chinese buyer premium by 26% recently in an attempt to increase demand
Copper is now -0.5% to $2.09/lb

9:50 am:

[BRIEFING.COM] Equity indices remain near their early highs with the S&P 500 (+0.5%) trading just a step ahead of the Nasdaq Composite.

Eight sectors remain in the green with energy (+1.3%) trading comfortably ahead of its peers. Meanwhile, the other commodity-related sector-materials (+0.6%)-represents the second best performer so far today.

Thanks to the early advance, the S&P 500 has extended this week's gain to 1.9%.

9:40 am:

[BRIEFING.COM] Equity indices have jumped out of the gate amid early strength in most sectors. The S&P 500 trades higher by 0.5% with the energy sector (+1.6%) pacing the opening move.

The energy sector has rallied alongside crude oil, which trades up 1.4% at $41.25/bbl, while other cyclical groups hold gains between 0.3% (consumer discretionary) and 0.6% (technology).

On the downside, telecom services (-0.2%) and utilities (-0.1%) hover just below their flat lines.

Treasuries have ticked up off their lows, but they remain in the red with the 10-yr yield higher by two basis points at 2.28%.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: +7.70. Nasdaq futures vs fair value: +21.80.

The stock market is on track for a modestly higher open as S&P 500 futures trade eight points above fair value. Index futures held modest losses through the bulk of the night, but they have climbed off their lows after European markets opened for the day.

This morning has been very quiet on the economic front with data limited to the weekly MBA Mortgage Index (+6.2%; previous -1.3%) and October Housing Starts (1.060 million; Briefing.com consensus 1.173 million)/Building Permits (1.150 million; expected 1.137 million). It is also worth noting that the minutes from the October FOMC meeting will be released at 14:00 ET.

As for corporate news, Fairchild Semiconductor (FCS 19.48, +1.60) is on track to open higher by 8.8% after agreeing to be acquired by ON Semiconductor (ON 10.50, -0.24) for $20/share.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +8.40. Nasdaq futures vs fair value: +23.40.

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

Asian markets ended the midweek session on a mixed note with markets in China (-1.0%) and Hong Kong (-0.3%) posting losses while Japan's Nikkei (+0.1%) eked out a slim gain. Also of note, the Japanese yen climbed against the dollar during the early portion of the night, but that entire move has been retraced, returning the dollar/yen pair to 123.45.

In economic data:
China's October House Prices +0.1% year-over-year (previous -0.9%) Australia's CB Leading Index -0.1% month-over-month (prior -0.4%) while Q3 Wage Price Index +0.6% quarter-over-quarter, as expected

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Japan's Nikkei (+0.1%) settled just above its flat line thanks to relative strength among growth-sensitive names. Furukawa Electric, Sumitomo Electric, and Advantest Corp gained between 2.3% and 6.6%. On the downside, Pioneer lost 3.7% and Toho Zinc fell 4.0%.
Hong Kong's Hang Seng (-0.3%) opened higher, but retreated into the close. Casino and gaming names paced the retreat with Galaxy Entertainment and Sands China lost 4.6% and 3.4%, respectively. On the upside, Li & Fung gained 2.9%.
China's Shanghai Composite fell 1.0% amid weakness in securities names as the government expands its probe into the industry. Founder Securities and Pacific Securities both lost near 7.0% apiece. Bank of China outperformed, adding 0.3%.

Major European indices trade mostly lower while UK's FTSE (+0.1%) outperforms. European equities have struggled in the early going while the euro has rebounded from a seven month low against the dollar. The pair currently hovers near 1.0670 after hitting a session high around 1.0690.

Economic data was limited:
Swiss November ZEW Expectations fell to 0.0 from 18.3

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UK's FTSE is higher by 0.1% with airlines on the defensive. International Consolidated Airlines and easyJet hold respective losses of 2.5% and 1.3% while miners outperform. Antofagasta, Anglo American, and Glencore show gains between 1.4% and 2.6%.
Germany's DAX has returned to its flat line with help from exporters. Daimler, Volkswagen, and BMW hold gains between 0.4% and 2.3%. On the downside, Linde is the weakest performer, trading lower by 1.7%.
In France, the CAC has given up 0.6% with Air Liquide trading down 6.5% following yesterday's acquisition of Airgas. On the upside, ArcelorMittal leads with a gain of 3.7% while Credit Agricole has climbed 1.2%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +15.80.

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

Housing starts fell to a seasonally adjusted annualized rate of 1,060,000 units in October, which was down from a revised 1,191,000 units in September (from 1,206,000). The Briefing.com consensus expected starts to decrease to 1,173,000 units.

Building permits rose to a seasonally adjusted annualized rate of 1,150,000 in October from an unrevised 1,105,000 for September while the Briefing.com consensus expected a reading of 1,137,000.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +14.10.

U.S. equity futures trade near their pre-market highs amid mixed action overseas. The S&P 500 futures hover five points above fair value after climbing off their lows around the start of the European session.

Meanwhile, Treasuries hold slim losses with the 10-yr yield up one basis point at 2.27%.

On the economic front, the weekly MBA Mortgage Index rose 6.2% to follow last week's 1.3% decline while October Housing Starts (Briefing.com consensus 1.173 million) and Building Permits (consensus 1.137 million) will be reported at 8:30 ET. Also of note, the Federal Reserve will release the minutes from its October meeting at 14:00 ET.

In U.S. corporate news of note:

Lowe's (LOW 74.50, +1.65): +2.3% after reporting a one-cent beat and reaffirming its guidance.
Staples (SPLS 12.45, 0.00): UNCH after reporting in-line earnings on below-consensus revenue.

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite -1.0%, Hong Kong's Hang Seng -0.3%, and Japan's Nikkei +0.1%.
In economic data:
China's October House Prices +0.1% year-over-year (previous -0.9%)
Australia's CB Leading Index -0.1% month-over-month (prior -0.4%) while Q3 Wage Price Index +0.6% quarter-over-quarter, as expected
In news:
China's President Xi Jinping spoke overnight at the APEC summit, saying the Chinese economy is dealing well with temporary headwinds
Major European indices trade in mixed fashion. France's CAC -0.7%, Germany's DAX -0.4%, and UK's FTSE +0.1%. Elsewhere, Italy's MIB -1.0% and Spain's IBEX -1.0%
Economic data was limited:
Swiss November ZEW Expectations fell to 0.0 from 18.3
Among news of note:
European equities have struggled in the early going while the euro has rebounded from a seven month low against the dollar. The pair currently hovers near 1.0670 after hitting a session high around 1.0690

6:50 am: [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +9.00.

6:50 am: [BRIEFING.COM] Nikkei...19649.18...+18.60...+0.10%. Hang Seng...22188.26...-76.00...-0.30%.

6:50 am: [BRIEFING.COM] FTSE...10908.82...-17.20...-0.30%. DAX...10908.82...-62.20...-0.60%.

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
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