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 Post subject: November 20th Friday Trade Results - Profit $215.00
PostPosted: Sat Nov 21, 2015 2:10 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 @ $90.00 dollars or +0.90 points, Emini ES ($ES_F) futures @ $125.00 dollars or +2.50 points, Light Crude Oil CL ($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 @ $215.00 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=2224

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 ended an upbeat week on a higher note with the bulk of today's action taking place during the opening hour. The S&P 500 gained 0.4%, ending the week higher by 3.3% while the Nasdaq Composite (+0.6%) outperformed, boosting its weekly gain to 3.6%.

Equity indices rocketed out of the gate, marking their best levels of the day about 45 minutes after the opening bell. The S&P 500 set a session high just above the 2,097 level and spent the remainder of the trading day in a slow retreat from that perch.

The consumer discretionary sector (+1.2%) displayed strength from the start while five other sectors also finished in the green. As for the discretionary space, the group extended its weekly gain to 4.5%, ending atop this week's leaderboard. Apparel names were largely responsible for the strength with Dow component Nike (NKE 132.65, +6.87) soaring 5.5% after announcing a new $12 billion share repurchase program and boosting its quarterly dividend by four cents to $0.32/share. In addition, the industry giant announced its stock will undergo a two-for-one split.

Staying in the discretionary sector, another apparel stock-Abercrombie & Fitch (ANF 24.37, +4.88)-soared 25.0% after beating earnings and revenue estimates while the broader SPDR S&P Retail ETF (XRT 44.16, +0.88) spiked 2.0%.

The strong showing from retailers overshadowed a 12.3% plunge in the shares of Chipotle Mexican Grill (CMG 536.19, -75.32), which unfolded after the Center for Disease Control published a report detailing new E. coli cases at CMG restaurants in six states.

Elsewhere among cyclical sectors, industrials (+0.6%) and technology (+0.9%) also settled ahead of the broader market while energy (-1.0%) and materials (-0.3%) could not stay out of the red. Interestingly, the energy sector finished at the bottom of the leaderboard even though crude oil overcame intraday weakness to end the pit session higher by 0.3% at $41.90/bbl.

Moving to the countercyclical side, consumer staples (-0.7%) and telecom services (-0.5%) retreated during the afternoon while utilities (+0.5%) and health care (+0.7%) settled in the green. The health care sector fared better than the biotech group as the iShares Nasdaq Biotechnology ETF (IBB 333.49, +0.07) settled flat.

Treasuries held modest gains through the bulk of the session but they dipped in the afternoon with the 10-yr yield ending higher by a basis point at 2.26%.

Today's participation was ahead of average with the final tally receiving a healthy boost thanks to options expiration. As a result, more than 950 million shares changed hands at the NYSE floor.

Investors did not receive any economic data today and Monday's economic news will be limited to the October Existing Home Sales report (Briefing.com consensus 5.50 million), which will be released at 10:00 ET.

Nasdaq Composite +7.8% YTD
S&P 500 +1.5% YTD
Dow Jones Industrial Average 0.0% YTD
Russell 2000 -2.4% YTD

Week in Review: Stocks March Higher

The stock market began the trading week with a broad-based rally, which unfolded after a range-bound start to the trading day. The S&P 500 gained 1.5% while the Nasdaq Composite (+1.2%) underperformed throughout the session. Overnight, it was reported that the Japanese economy has re-entered recession for the second time in as many years as Q3 GDP contracted 0.2% quarter-over-quarter (expected -0.1%; last -0.3%), according to the preliminary reading. Naturally, that news was met with hopes for more monetary support from the Bank of Japan, which boosted global equities while the yen retreated, sending the dollar/yen pair higher by 0.5% to 123.20. That being said, Japan's Nikkei could not stay in the green, falling 1.0%. Once the focus turned to the U.S., stocks began the day with slim losses, but the opening weakness was erased promptly. The S&P 500 spent the first two hours of the day just above its flat line, but the index extended its gain during the afternoon with the energy sector (+3.3%) setting the pace.

Equity indices finished Tuesday on a flat note after enjoying an opening rally that briefly placed the S&P 500 (-0.1%) above its 200-day moving average (2,064). The benchmark index was up around 0.7% during late morning action, but steady afternoon selling ensured a lower finish. The second-half retreat accelerated after police officials in Hanover, Germany confirmed that a credible bomb threat forced the cancellation of a soccer match between Germany and the Netherlands. Press reports suggested that an emergency vehicle loaded with explosives was found at the soccer stadium, but this was refuted by the German Interior Minister just before the market closed for the day. Six sectors ended the day with losses while health care (+0.4%) ended in the lead thanks to daylong strength in biotechnology.

The 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.

Thursday ended on a flat note after the market spun its wheels throughout the day. The S&P 500 shed 0.1% after spending the day in an eight-point range while the Nasdaq Composite (unch) outperformed slightly. Equities began the trading day just below their flat lines due to daylong weakness in two relatively large sectors. To that point, health care (-1.6%) and energy (-1.3%) struggled from the start with the health care space responding to a 5.7% dive in the shares of UnitedHealth (UNH 110.57, -6.68) after the insurer lowered its guidance, citing exposure to public exchanges. To be fair, UNH was not the only soft spot as biotech names also lagged with iShares Nasdaq Biotechnology ETF (IBB 333.42, -5.32) ending lower by 1.6%. For its part, the energy sector lagged throughout the day, ending well behind the broader market despite an afternoon rebound in crude oil, which narrowed its loss to 0.5%, ending the pit session at $40.54/bbl.

3:35 pm: [BRIEFING.COM]

The dollar index continued to hold gains today, which weighed on commodities
Commodities including gold, silver, copper, crude oil and natural gas slid lower in afternoon trade
Jan WTI crude rallied as high as $42.69/barrel, but quickly reversed to finished today's floor trading session at $41.90/barrel, up 0.3%
Dec natural gas, however, was very weak today and closed out the session 5.3% lower at $2.15/MMBtu
Metals ended lower as well. In electronic trade, gold and copper are at today's lows, while silver is hanging above $14/oz
Dec gold closed out the day -0.2% at $1076.20/oz, while Dec silver ended -0.8% at $14.10/oz
Dec copper lost -0.5% to close at $2.06/lb

2:55 pm:

[BRIEFING.COM] The S&P 500 trades higher by 0.4% with one hour remaining in the trading day.

The bulk of today's action unfolded during the opening hour while the remainder of the session has featured a slow drip from morning highs. The consumer discretionary sector (+1.1%) led at the start and the cyclical group remains ahead going into the home stretch.

Although the discretionary sector remains well ahead of the broader market, the same cannot be said for Chipotle Mexican Grill (CMG 557.50, -54.05) considering the stock has plunged 9.1% after the Center for Disease Control issued a report which identified new E. coli cases at CMG restaurants in six states.

2:25 pm:

[BRIEFING.COM] Quiet afternoon action continues with the S&P 500 trading higher by 0.4%. The benchmark index has spent the past two hours in a four-point range, which puts the index on track to end the week higher by 3.3%.

The consumer discretionary sector (+1.1%) continues holding the lead with retailers largely responsible for the strength. Meanwhile, homebuilders trade largely in-line with the broader market, evidenced by a 0.4% gain in the iShares Dow Jones US Home Construction ETF (ITB 28.08, +0.11).

Elsewhere, Treasuries have slipped lower after holding a modest gain through the bulk of the session. As a result, the 10-yr yield is now higher by a basis point at 2.26%.

1:55 pm:

[BRIEFING.COM] Equity indices have seen another downtick from their recent levels, narrowing the gain in the S&P 500 to 0.4%.

As mentioned earlier, the stock market notched its high during the opening hour of the trading day and has been slowly drifting away from that level since then. The consumer discretionary sector (+1.0%) is back in the lead after ceding the top spot to the health care sector (+0.8%) during late morning action.

On the downside, the consumer staples sector (-0.4%) has joined the energy space (-0.8%)in negative territory.

1:35 pm:

[BRIEFING.COM] The major U.S. indices remain solidly in positive territory as consumer discretionary names lead stocks higher.
Related Quotes

A look inside the Dow Jones Industrial Average shows that Nike (NKE 131.63, +5.85), UnitedHealth Group (UNH 113.18, +2.55), and Home Depot (HD 129.23, +2.37) are outperforming. Nike is the top performer in the Dow after announcing it would conduct a 2-1 stock split, authorized a new $12 bln share buyback program, and increased its quarterly dividend by 14%. UnitedHealth shares are rebounding from yesterday's share decline after the company cut its full year earnings outlook.

Conversely, Chevron (CVX 89.67, -1.16) is the worst-performing Dow component as energy lags, despite crude oil showing gains on the day.

For the week, the DJIA is poised to close with gains of over 3.3%, bring November back into positive territory. With this week's gains, the DJIA remains only fractionally in negative territory for the year

12:55 pm:

[BRIEFING.COM] The major averages sit in the green at midday with the S&P 500 (+0.5%) trading a bit behind the Nasdaq (+0.6%) and the Dow Jones Industrial Average (+0.6%).

Equity indices notched their session highs during the opening hour, but they have inched back from those levels since then. Seven sectors continue holding midday gains while energy (-0.5%), materials (-0.3%), and telecom services (-0.2%) hover in the red.

Notably, the energy sector has retreated alongside crude oil, but a recent rebound in WTI crude has not lifted the energy space back into the green. As for crude, the energy component is higher by 1.1% at $42.19/bbl.

On the upside, the consumer discretionary sector (+1.0%) has held a solid gain since the start thanks to a 4.6% surge in the shares of Nike (NKE 131.57, +5.79) after the Dow component announced a new $12 billion share repurchase program and boosted its quarterly dividend by four cents to $0.32/share. Also of note, the apparel company announced its stock will undergo a two-for-one split.

Staying in the discretionary space, apparel retailers have had a strong showing thanks to Nike's results as well as better than expected earnings from Abercrombie & Fitch (ANF 23.90, +4.41). Shares of ANF have soared 22.6% while the broader SPDR S&P Retail ETF (XRT 44.14, +0.86) has climbed 2.0%.

Elsewhere, heavily-weighted health care (+0.8%) and technology (+0.8%) have also contributed to the first half strength.

Treasuries hold slim gains with the 10-yr yield down one basis point at 2.24%.

Investors did not receive any economic data today.

12:25 pm:

[BRIEFING.COM] Quiet action continues with the S&P 500 (+0.5%) trading just behind the Nasdaq Composite (+0.6%).

The tech-heavy Nasdaq has shown relative strength since the early going thanks to a solid showing from the technology sector (+0.8%). Large cap components like Alphabet (GOOGL 776.26, +16.32), Oracle (ORCL 39.55, +0.53), and Qualcomm (QCOM 49.34, +0.95) show gains between 1.3% and 2.2% while Intel (INTC 34.85, +0.55) has climbed 1.6% despite a mixed showing from other chipmakers, evidenced by the PHLX Semiconductor Index, which is higher by 0.2% at this juncture.

On the downside, the energy sector (-0.7%) remains at the bottom of the leaderboard even though crude oil is back in the green, trading up 0.3% at $41.86/bbl.

11:55 am:

[BRIEFING.COM] The major averages remain near their recent levels with the S&P 500 trading highs by 0.5%.

Although the benchmark index has not gone anywhere, the materials sector (-0.2%) has joined energy (-0.6%) and telecom services (-0.2%) in the red. Meanwhile, the health care space (+1.0%) remains in the lead while biotechnology trades a bit behind the sector with the iShares Nasdaq Biotechnology ETF (IBB 336.08, +2.66) trading higher by 0.8%.

Including today's gain, the biotech ETF is now up 3.9% for the week versus a 3.4% spike in the S&P 500.

11:25 am:

[BRIEFING.COM] Not much change in the market as the S&P 500 continues trading higher by 0.6%. Thanks to today's advance, the benchmark index is now up 3.5% for the week and higher by 0.7% in November.

Similarly, all ten sectors are on track to end the week in the green with gains ranging from 1.8% (energy) to 4.3% (technology). Cyclical sectors have fared better than defensively-oriented groups, but that being said, the four countercyclical sectors sport weekly gains between 2.2% (utilities) and 3.8% (consumer staples).

Elsewhere, Treasuries have held their ground just below their highs with the 10-yr yield remaining lower by a basis point at 2.24%.

11:00 am:

[BRIEFING.COM] The major averages continue cruising near their best levels of the day with the S&P 500 trading higher by 0.6%. The stock market advanced through the first 30 minutes of the session while recent action has featured a sideways drift.

Eight sectors continue holding gains while energy (-0.7%) has dipped into negative territory alongside crude oil, which is now lower by 0.5% at $41.52/bbl. Despite its current decline, the energy sector remains on track to end the week higher by 1.7%, but that would put the sector behind the remaining nine groups.

On the upside, the health care sector (+1.1%) has seized the lead, overtaking the consumer discretionary space (+0.9%).

10:40 am: [BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, are trading near the unchanged mark, despite strength seen in the dollar index
The dollar index just hit a new HoD in recent trade
Natural gas futures sold off sharply this morning and has been in the red all day so far
Dec nat gas is currently -3.4% at $2.20/MMBtu
WTI crude oil futures are volatile this morning... front-month Jan crude is now
Gold and silver sold off in recent trade... Dec gold is now +0.1% at $1079.10/oz, while Dec silver is -0.65 at $14.14/oz

9:50 am:

[BRIEFING.COM] Equity indices have added to their opening gains with the Dow now up 0.8% while the S&P 500 (+0.7%) and Nasdaq Composite (+0.5%) follow a bit behind.

The consumer discretionary sector (+1.0%) maintains the lead while the remaining cyclical sectors show gains between 0.4% (energy) and 0.6% (technology).

Over on the countercyclical side, utilities (+0.9%), health care (+0.9%), and consumer staples (+0.8%) all trade ahead of the broader market while the telecom services sector is flat.

9:40 am:

[BRIEFING.COM] As expected, the major averages have climbed out of the gate with the Dow Jones Industrial Average (+0.6%) setting the pace thanks to a 4.6% surge in the shares of Nike (NKE 131.62, +5.84) after the apparel company announced a $12 billion buyback and boosted its quarterly dividend. As a result, the consumer discretionary sector (+0.9%) trades ahead of other groups.

Similar to the discretionary space, seven other sectors hold gains while the telecom services space (-0.2%) hovers below its flat line.

Elsewhere, Treasuries have returned to their overnight highs with the 10-yr yield down one basis point at 2.24%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +16.00.

The stock market is on track for a modestly higher open as S&P 500 futures trade seven points above fair value after reaching pre-market highs within the past 45 minutes.

Broadly speaking, the overnight session did not introduce any surprises as Asian markets ended the week on a mostly higher note while most European equities trade just above their flat lines. It is worth noting that European Central Bank President Mario Draghi spoke earlier, reiterating that the ECB will do what it can to raise inflation "as quickly as possible" if the current policy path proves insufficient.

Domestically, investors have not received any economic data, but a few quarterly reports have crossed the wires since yesterday's closing bell. For instance, Gap (GPS 25.00, -0.09) is on track to open lower by 0.4% after reporting in-line with its November 9 warning while Nike (NKE 131.58, +5.80) has spiked 4.6% in pre-market after announcing a new $12 billion share repurchase program and boosting its quarterly dividend by four cents to $0.32/share. Also of note, the company announced its stock will undergo a two-for-one stock split.

Unlike equity futures, Treasuries hover near their flat lines with the 10-yr yield at 2.25%.

8:51 am: [BRIEFING.COM] S&P futures vs fair value: +8.10. Nasdaq futures vs fair value: +18.60.

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

Asian markets finished the week on a mostly higher note. The day was extremely quiet for the bulk of the session with macro data on the light side and small trading ranges across the major indices. Both the Nikkei and Shanghai managed to post slim gains on the day. There were reports from Japanese press that the central government is considering means to boost wages in an effort to give a lift to domestic consumption. Japan's Finance Minister squashed chatter seen earlier in the week that any decisions have been made in terms of adding new stimulus into the fiscal budget.

Economic data was limited:
New Zealand's Credit Card Spending +7.8% year-over-year (previous +7.3%)

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Japan's Nikkei increased 0.1%. The Nikkei had been modestly lower earlier in the day in the wake of the Bank of Japan's decision to leave its monetary policy unchanged and the yen's strength in yesterday's US trading hours, but buyers stepped up in the last hour to keep the index from closing underwater. Among the notable movers for the session, tech name Renesas Electronics rose 12.1% after reports of a large fund taking a large stake in the company. Automakers were weaker on the session with Nissan Motor dropping 1.6% and Toyota Motor falling -1.0%.
Hong Kong's Hang Seng advanced by 1.1% and finished at its high. Trading in the afternoon was accented by a steady bid in the market, with buying picking up in the last 2 hours of trading. Strong gains in the energy sector set the pace with the likes of CNOOC (+2.6%) and PetroChina (+2.1%) outperforming the broader market. On a sour note, Dali Foods Group Company launched its IPO and debuted for trading today, only to see a drop of 4.4%. This drug industry peer Mengniu Dairy down with it, closing 1.5% lower on the day.
China's Shanghai Composite rose 0.1% after being down 1.2% shortly after the start of trading. Participants bought the dip, although some selling pressure emerged in the final hour to tip the market back into negative territory. The latest round of PBOC easing to its SLF helped push up prices of banking and real estate stocks on Friday, but many other sectors, including transports and healthcare retreated.

Major European indices trade in mixed fashion with Germany's DAX (+0.4%) showing relative strength. European Central Bank President Mario Draghi spoke earlier today, reiterating that the ECB will do what it can to raise inflation "as quickly as possible" if the current policy path proves insufficient.

In economic data:
Germany's October PPI -0.4% month-over-month (expected -0.2%; previous -0.4%); -2.3% year-over-year (consensus -2.0%; last -2.1%)
UK's October Public Sector Net Borrowing GBP7.47 billion (expected GBP5.50 billion; previous GBP8.33 billion)

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Germany's DAX trades up 0.4% with exporters among the leaders. Volkswagen and Daimler hold respective gains of 1.0% and 0.8%. Meanwhile, financials lag with Commerzbank up 0.1% and Deutsche Bank down 0.3%.
UK's FTSE is higher by 0.3% with broadcaster Sky in the lead. The stock has jumped 2.4% while Rolls-Royce, Imperial Tobacco, and Diageo follow with gains between 1.5% and 2.4%. On the flip side, financials have struggled with Barclays down 2.0% and Lloyds Banking lower by 1.5%.
France's CAC hovers near its flat line amid weakness in growth-sensitive names. Technip, Michelin, BNP Paribas, and Societe Generale show losses between 0.8% and 2.8%. On the upside, Accor outperforms, trading higher by 0.9%.

8:28 am: [BRIEFING.COM] S&P futures vs fair value: +7.40. Nasdaq futures vs fair value: +18.00.

U.S. equity futures have inched up to new pre-market highs in recent action while Treasuries continue holding steady near their flat lines with the 10-yr yield pegged at 2.25%.

Elsewhere, the Dollar Index (99.28, +0.30) is higher by 0.3% with the greenback adding 0.3% against the euro (1.0686), but the dollar has given up some ground (-0.1%) to the yen, pressuring the dollar/yen pair to 122.82.

For the week, the Dollar Index is higher by 0.5% after being up 1.1% at its highest point on Wednesday.

7:54 am: [BRIEFING.COM] S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +16.50.

U.S. equity futures trade near their pre-market highs amid mixed action overseas. The S&P 500 futures hover six points above fair value after spending the night in a seven-point range.

Meanwhile, Treasuries are little changed with the 10-yr yield at 2.25%.

Investors will not receive any economic data today.

In U.S. corporate news of note:

Ross Stores (ROST 49.88, +3.68): +8.0% after beating bottom-line estimates and reaffirming its guidance.
Williams-Sonoma (WSM 63.89, -2.32): -3.5% after below-consensus guidance overshadowed better than expected earnings.
Mentor Graphics (MENT 19.00, -8.78): -31.6% in reaction to disappointing guidance and a one-cent miss.
Abercrombie & Fitch (ANF 23.15, +3.66): +18.8% after beating earnings and revenue estimates.
Foot Locker (FL 64.49, +2.96): +4.8% in reaction to better than expected earnings.

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +0.1%, China's Shanghai Composite +0.4%, and Hong Kong's Hang Seng +1.1%
Economic data was limited:
New Zealand's Credit Card Spending +7.8% year-over-year (previous +7.3%)
In news:
Japan's Minister of State for Economic Revitalization Akira Amari cautioned against raising the consumption tax rate

Major European indices trade in mixed fashion. Germany's DAX +0.3%, UK's FTSE +0.1%, and France's CAC -0.1%. Elsewhere, Italy's MIB -0.5% and Spain's IBEX -0.4%
In economic data:
Germany's October PPI -0.4% month-over-month (expected -0.2%; previous -0.4%); -2.3% year-over-year (consensus -2.0%; last -2.1%)
UK's October Public Sector Net Borrowing GBP7.47 billion (expected GBP5.50 billion; previous GBP8.33 billion)
Among news of note:
European Central Bank President Mario Draghi spoke earlier today, reiterating that the ECB will do what it can to raise inflation "as quickly as possible" if the current policy path proves insufficient

5:52 am: [BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +15.00.

5:52 am: [BRIEFING.COM] Nikkei...19879.81...+20.00...+0.10%. Hang Seng...22754.72...+254.50...+1.10%.

5:52 am: [BRIEFING.COM] FTSE...6333.46...+3.30...+0.10%. DAX...11093.89...+8.50...+0.10%.

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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