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 Post subject: December 2nd Wednesday Trade Results - Profit $2250.00
PostPosted: Wed Dec 02, 2015 11:10 pm 
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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 @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2250.00 dollars or +45.00 points, Light Crude Oil CL ($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 @ $2250.00 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=150&t=2234

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=278&t=2988 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 the midweek session on a broadly lower note with the S&P 500 sliding 1.1% while the Nasdaq (-0.6%) settled a bit ahead.

Equity indices spent the first 90 minutes of the session near their flat lines, but the energy sector (-3.1%) struggled from the start and accelerated its retreat into the afternoon, which dragged down the entire market. Meanwhile, the remaining groups held up relatively well at the start, but they could not resist the pressure, which intensified as the session wore on.

Today's plunge in the energy sector followed similar action in the oil market with WTI crude showing late morning volatility in reaction to conflicting headlines concerning this Friday's OPEC meeting in Vienna. Specifically, crude oil, and the energy sector, spiked off its morning low following reports that majority of OPEC members have agreed on an output cut; however, oil and the energy sector dove to new lows after subsequent reports indicated that Saudi Arabia and other Arab nations do not support lowering their production output. Crude oil settled lower by 4.4% at $41.78/bbl after marking a low at $39.86/bbl.

Interestingly, the selling in the market accelerated shortly after Fed Chair Janet Yellen concluded her speech at the Economic Club of Washington with the remarks being perceived as a sign that the Fed is ready to raise rates at the December policy meeting. The Dollar Index (100.00, +0.20) set a new 2015 high at 100.51 immediately after Chair Yellen's speech was released while Treasuries notched new lows for the day. The 10-yr note ended in the lower half of today's trading range, pushing its yield up four basis points to 2.18%.

In addition to the aforementioned energy sector, three other groups-financials (-1.2%), materials (-1.3%), and utilities (-2.2%)-lost more than 1.1% apiece while the remaining sectors posted slimmer losses. For instance, the industrial sector (-1.1%) ended in line with the market even though transport stocks underperformed following cautious guidance from CSX (CSX 27.53, -1.07) and KC Southern (KSU 85.12, -6.51). The two names posted respective losses of 3.7% and 7.1% while the broader Dow Jones Transportation Average fell 2.1%.

Elsewhere, the top-weighted technology sector (-0.6%) could not stay out of the red, but the group finished ahead of its peers thanks to a 5.2% jump in the shares of Qualcomm (QCOM 51.85, +2.55) after the company licensed its 3G and 4G technology to Xiaomi.

Today's participation was a bit ahead of average as roughly 930 million shares changed hands at the NYSE floor.

Economic data released this morning included ADP Employment and Q3 Productivity/Unit Labor Cost Data:

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 217,000 in November while the Briefing.com consensus expected a reading of 185,000
The October reading was revised up to 196,000 from 182,000
Third quarter productivity was revised up to 2.2% (Briefing.com consensus 2.2%) from 1.6% in the preliminary estimate while unit labor costs were revised up to 1.8% (Briefing.com consensus 1.2%) from 1.4% in the preliminary estimate
The change in productivity flowed from a 1.8% increase in output and a 0.3% decrease in hours worked. That was the first decline in hours worked since the third quarter of 2009
The change in unit labor costs reflected a 4.0% increase in hourly compensation and a 2.2% increase in productivity

Tomorrow, weekly Initial Claims (Briefing.com consensus 267K) will be reported at 8:30 ET while October Factory Orders (consensus +1.1%) and November ISM Services (consensus 58.3) will both be released at 10:00 ET.

Nasdaq Composite +8.2% YTD
S&P 500 +1.0% YTD
Dow Jones Industrial Average -0.5% YTD
Russell 2000 -0.9% YTD

3:40 pm: [BRIEFING.COM]

Strength in the dollar index weighed on commodities today, including oil, natural gas and metals
WTI crude oil sold off today ahead of Friday's OPEC meeting and following today's weekly EIA storage data
Jan crude finished the day -4.4% at $39.94/barrel.
Jan nat gas lost $0.06 to finish at $2.17/MMBtu
Metals ended today's session in the red with Feb gold losing -0.9% at $1053.90/oz and Mar silver -0.4% at $14.01/oz
Mar copper dropped 1% to $2.05/lb in floor trading

3:00 pm:

[BRIEFING.COM] The S&P 500 trades lower by 1.1% with one hour remaining in the trading day.

The benchmark index has spent the bulk of the trading day in the red, but the retreat accelerated during the early afternoon with the energy sector (-3.2%) pacing the slide. The growth-sensitive group is now down 2.1% for the week, trading well behind the remaining sectors. Meanwhile, this week's second-weakest performer-industrials-is down 1.2% for the week with the bulk of that drop taking place today.

The industrial sector (-1.1%) trades in-line with the benchmark index, but that has masked a 2.4% dive in the Dow Jones Transportation Average. Kansas City Southern (KSU 84.91, -6.72) is the weakest index component, trading lower by 7.2%, after issuing cautious guidance for Q4.

2:25 pm:

[BRIEFING.COM] Recent action saw an acceleration of today's retreat with the energy sector (-2.8%) remaining at the forefront of that move. The growth-sensitive sector has now slid below its 50- and 100-day moving averages amid aggressive selling in the energy market where crude oil is now down 4.6% at $39.92/bbl. Given its current level, the energy component now trades about $1.00/bbl above its November low.

Although crude oil has been very active this week, investors are unlikely to see the volatility subside before the OPEC meeting, which will take place on Friday in Vienna.

Switching gears, the Federal Reserve has released its December Beige Book, which showed that most Fed Districts reported a modest increase in economic activities since the previous report. Although most Districts reported a certain magnitude of improvement, Boston saw slower growth even though revenue growth was reported.

With regard to employment, the Beige Book indicated a modest tightening, stressing that increases in hiring have been driven primarily by temporary and entry-level positions.

The commentary on prices did not contain any surprises with a steady price level being reported across most Districts.

2:00 pm:

[BRIEFING.COM] The S&P 500 (-0.5%) has dipped to a new session low as part of a move that has dragged the Nasdaq into the red. However, the tech-heavy index remains ahead of the broader market as the technology sector trades flat.

On the flip side, the energy sector (-2.6%) remains at the bottom of the barrel while crude oil is now down 4.1% at $40.14/bbl. Interestingly, recent slip to lows in the energy market has taken place even though the Dollar Index (100.06, +0.27) has backtracked from its best level of the day after setting a fresh high for the year. The index has retreated into the middle of today's trading range, trading higher by 0.3%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices remain mixed following comments from Fed Chair Janet Yellen, while the Nasdaq outperforms.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 90.58, -1.90), Exxon Mobil (XOM 80.27, -1.62), and Pfizer (PFE 33.26, -0.36) are underperforming. Chevron and Exxon are under notable pressure alongside peers in the energy space as the whole sector gets crushed with WTI crude oil -4% following this morning's inventory report, and ahead of Friday's much-anticipated OPEC meeting. Pfizer on the other hand is pulling back after displaying relative strength during yesterday's session.

Conversely, UnitedHealth Group (UNH 118.78, +3.02) is the best-performing Dow component as shares see continued strength following Monday's commentary on this and next year's guidance.

Despite today's slight pullback, the DJIA still remains in positive territory for the year after yesterday's rally.

12:55 pm:

[BRIEFING.COM] The major averages trade in mixed fashion at midday with the Dow (-0.2%) and S&P 500 (-0.3%) showing modest losses while the Nasdaq Composite (+0.2%) outperforms.
Related Quotes

Equity indices spent the initial 90 minutes of the day near their flat lines, but the S&P 500 has been pressured to a new low due to significant weakness in the energy sector (-2.4%). The growth-sensitive group saw late-morning volatility in reaction to some conflicting headlines about the OPEC meeting, which will take place in Vienna on Friday. Similarly, crude oil has endured heavy selling as the energy component trades lower by 3.6% at $40.35/bbl at this juncture.

Dollar strength has likely contributed to today's weakness in crude, considering the Dollar Index (100.33, +0.53) is higher by 0.5% after inching above its high from March 13 (100.39) in recent action. That move occurred after the recent release of Fed Chair Janet Yellen's speech, which was viewed as a sign that the Fed is ready to raise rates at the December policy meeting.

Meanwhile, Treasuries have marched lower throughout the day, hitting their lows not long ago with the 10-yr yield up five basis points at 2.19%.

Eight sectors hold midday losses while technology (+0.4%) and telecom services (+0.1%) hover in the green. The top-weighted tech sector has held its ground since the start thanks to a 7.5% surge in the shares of Qualcomm (QCOM 52.98, +3.68) after the company licensed its 3G and 4G technology to Xiaomi.

Unlike technology, the remaining cyclical sectors trade in the red, but their losses have been held in check for the time being. For instance, the industrial sector (-0.3%) has kept pace with the broader market even though transport stocks lag, evidenced by a 0.9% decline in the Dow Jones Transportation Average.

Economic data released this morning included ADP Employment and Q3 Productivity/Unit Labor Cost Data:

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 217,000 in November while the Briefing.com consensus expected a reading of 185,000
The October reading was revised up to 196,000 from 182,000
Third quarter productivity was revised up to 2.2% (Briefing.com consensus 2.2%) from 1.6% in the preliminary estimate while unit labor costs were revised up to 1.8% (Briefing.com consensus 1.2%) from 1.4% in the preliminary estimate
The change in productivity flowed from a 1.8% increase in output and a 0.3% decrease in hours worked. That was the first decline in hours worked since the third quarter of 2009
The change in unit labor costs reflected a 4.0% increase in hourly compensation and a 2.2% increase in productivity

The Federal Reserve will release its December Beige Book at 14:00 ET.

12:25 pm:

[BRIEFING.COM] The major averages hover near their worst levels of the session with the S&P 500 trading lower by 0.4% while the Nasdaq (+0.1%) outperforms thanks to the continued strength in the technology sector.

The top-weighted tech sector (+0.3%) has held its ground despite increasing selling pressure in just about every other area. Most large cap tech names trade in mixed fashion, but Qualcomm (QCOM 52.96, +3.66) has soared 7.4% after licensing its 3G and 4G technology to Xiaomi. Shares of Qualcomm have erased their earnings-driven decline from November 18 while the broader PHLX Semiconductor Index trades up 0.3%.

On the downside, energy (-2.3%) and telecom services (-1.6%) remain at the bottom of the leaderboard while the remaining sectors show losses of no more than 0.9% (materials).

11:55 am:

[BRIEFING.COM] The key indices have backtracked from their recent levels with the market following in the footsteps of the energy sector (-2.3%). In turn, the growth-sensitive sector has marched lower amid heavy selling in crude oil, which is now down 3.3% at $40.48/bbl. The energy component has plunged to a new low after showing some volatility in reaction to conflicting headlines about the OPEC meeting, which will take place on Friday in Vienna.

The significant weakness in the energy sector has weighed on the broader market, dragging the health care sector (-0.2%) into negative territory while technology (+0.2%) remains just above its flat line.

Interestingly, the decline in stocks has had little impact on Treasuries as they remain just above their lows with the 10-yr yield up four basis points at 2.18%.

11:25 am:

[BRIEFING.COM] Recent action saw the S&P 500 (-0.3%) slip to a new session low while the Nasdaq (+0.2%) has dipped from its high, but the tech-heavy index remains in the green for the time being.

The energy sector (-1.7%) has struggled since the opening bell and the group has slid to a new low alongside the broader market. Meanwhile, most of the remaining cyclical sectors also trade in the red, but they all show losses smaller than 1.0%.

Despite today's slim decline, the S&P 500 remains higher by 0.3% since last Friday to continue what has been a relatively quiet start to the trading week.

Treasuries continue hovering near their lows with the 10-yr yield up four basis points at 2.18%.

10:55 am:

[BRIEFING.COM] Equity indices remain near their opening levels with the S&P 500 (-0.1%) showing a slim loss while the Nasdaq Composite (+0.4%) outperforms.

The energy sector (-1.0%) has marked a new session low after seeing a short-lived spike in reaction to reports that majority of OPEC members have agreed on an output cut; however, the sector backed away from its rebound high after subsequent reports indicated that Saudi Arabia and other Arab nations do not support lowering their production output.

Similar to the energy sector, crude oil surged immediately after the first report, but fell to new lows in reaction to the second headline. As a result, the energy component remains lower by 1.6% at $41.17/bbl.

10:35 am: [BRIEFING.COM]

The dollar has trended higher all session, lifting overnight after an underwhelming Euro zone inflation reading drove weakness in the Euro ahead of the ECB's policy meeting.
The index extended those early gains on stronger-than-expected ADP employment data (217K vs. a 185K consensus), and is now +0.5% to 100.40
WTI has seen selling pressure all session, following yesterday's release of API data that showed a build of 1.6 mln barrels and ahead of this morning's EIA storage report.
Peripheral drivers of price action in crude have included headlines involving OPEC's stance toward production cuts (expected to be discussed at the Dec. 4 meeting)
Upon release of the EIA data, which showed a build of 1.1 mln barrels, the commodity extended losses and is now -2.4% to $40.83/barrel
Natural gas meanwhile has been booking strong losses amidst a lack of catalysts to pacify oversupply concerns. The January contract is now -2.8% to $2.17/MMBtu
Precious metals held early strength going into the ADP data, but fell sharply upon the release of the outsized gain. Gold is now -0.8% to $1054.90/oz and silver is -0.3% to $14.05/oz. Copper is also trading red at -0.4% to $2.06/lb

9:55 am:

[BRIEFING.COM] The S&P 500 remains within a striking distance of its flat line while the Nasdaq Composite (+0.3%) has climbed to a new session high thanks to the combined strength in technology and biotechnology.

The top-weighted technology sector has extended its gain to 0.4% while health care (+0.2%) represents the only other sector trading in the green. Biotechnology has contributed to the early strength, evidenced by a 0.2% uptick in the iShares Nasdaq Biotechnology ETF (IBB 336.90, +0.74).

On the flip side, the energy sector has widened its opening loss to 1.1% while crude oil is back near its session low, trading down 2.0% at $41.01/bbl. Dollar strength has likely exerted some pressure on crude as the Dollar Index (100.24, +0.44) hovers just below its mid-March high (100.39).

9:40 am:

[BRIEFING.COM] As expected, the trading day has started on a flat note with the S&P 500 (-0.1%) hovering just below its flat line amid opening losses in eight of ten sectors.

Although most sectors trade in the red, only three groups are down more than 0.3% with energy (-0.6%) trading at the bottom of the leaderboard while utilities (-0.5%) and consumer staples (-0.4%) also underperform.

On the flip side, the top-weighted technology sector (+0.4%) leads while health care hovers just above its unchanged level.

Elsewhere, Treasuries have slipped to lows, pushing the 10-yr yield up four basis points to 2.18%.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -1.70. Nasdaq futures vs fair value: +2.50.

The stock market is on track for a flat open as S&P 500 futures trade within two points of fair value after spending the night in a seven-point range.

The midweek affair is set to begin on a quiet note, which follows a quiet overnight session. For instance, European indices trade in mixed fashion ahead of tomorrow's European Central Bank meeting, which could produce a decision to increase the pace of asset purchases. The euro trades lower by 0.4% against the dollar (1.0585) with the greenback spiking to highs after today's ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 217,000 in November while the Briefing.com consensus expected a reading of 185,000.

Separately, Q3 Productivity was revised up to 2.2% from 1.6%, matching the Briefing.com consensus. Meanwhile, Q3 unit labor costs were revised up to 1.8% from 1.4% in the preliminary reading (Briefing.com consensus 1.2%).

Treasuries fell to lows following the data, pushing the 10-yr yield up three basis points to 2.18%.

On the corporate front, Ascena Retail Group (ASNA 12.80, +1.02) has surged 8.7% in pre-market after beating bottom-line estimates while Yahoo! (YHOO 35.04, +1.33) is on track to open higher by 4.0% after the Wall Street Journal reported the company may be interested in selling its core business.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -2.70. Nasdaq futures vs fair value: +0.60.

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

Markets in the Asia-Pacific region ended Wednesday on a mixed note. It was a relatively quiet session for the most part with just a few data points crossing the wires. The Nikkei (-0.4%) was one of the decliners with sentiment seemingly shifting after optimistic comments from the BoJ's Deputy Governor regarding the Japan's economy, suggesting a recovery is in place and reaffirming the expectation that the state's inflation objective would be met within the latter half of next year. The comments, along with solid macro data yesterday, likely infused some doubt about additional stimulus in the near term. Conversely, the Shanghai Composite (+2.3%) was an outperformer with property stocks on fire after local press suggested the sector may see new government stimulus.

In economic data:
Australia's Q3 GDP +0.9% quarter-over-quarter (expected 0.8%; previous 0.3%); +2.5% year-over-year (consensus 2.4%; last 1.9%)
Japan's Monetary Base +32.5% year-over-year (consensus 35.2%; previous 32.5%)
South Korea's October Current Account surplus narrowed to KRW7.19 billion from KRW9.76 billion

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Japan's Nikkei declined 0.4%. Most of the sectors finished the day in negative territory with IT (-1.0%), Consumer Discretionary (-0.9%) and Energy (-0.9%) lagging the broader market. Not every name was met with sour sentiment, however, with shares of Sharp rising 5.6% after reports that a Japanese fund raised its stake in the company and induced speculation that the company may plan a spinoff. Mazda (+1.0%) also traded higher after the automaker released its November sales results.
Hong Kong's Hang Seng advanced by 0.4% and finished toward the upper end of the day's range. Some of the buying in the afternoon tapered off in the last hour of trading, seeing the index give back about 50 pts from the highs. Gaming stocks saw some follow through from yesterday with Galaxy Entertainment extending gains by 0.8%, while Sands China closed up 0.7%.Among the losers of the day, Car Inc fell 4.3% after reports that Hertz indicated it would look to sell out of its stake in the company.
China's Shanghai Composite advanced 2.3%, with today representing the best session in the index in nearly a month. There was a shift in fund flow from small caps into some of the larger cap names with the Shenzhen's ChiNext falling over 2%. As mentioned above, real estate names were in vogue today, with the likes of China Vanke Co and Poly Real Estate Group Co hitting the 10% limit up for the second straight day, with the local reports hyping chatter that China will attempt to stimulate home purchases by unveiling new tax incentives to home buyers.

Major European indices trade mostly lower, but trading action has been subdued ahead of tomorrow's policy decision from the European Central Bank. Currently, the ECB is expected to keep its main refinancing rate at 0.05%, but the Deposit Facility Rate is expected to be lowered to -0.3% from -0.2%. In addition, it would not be shocking if the ECB decided to increase the pace of its purchases. The euro has given up about 40 pips against the dollar this morning with the pair trading near 1.0580.

Investors received several data points:
Eurozone November CPI +0.1% year-over-year (expected 0.2%; previous 0.1%) and Core CPI +0.9% year-over-year (consensus 1.1%; previous 1.1%). Separately, October PPI -0.3% month-over-month (expected -0.4%; last -0.4%); -3.1% year-over-year (consensus -3.2%; prior -3.2%)
UK's November Construction PMI 55.3 (expected 58.2; last 58.8)
Spain's Unemployment Change -27,100 (expected -10,300; previous 82,300)

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Germany's DAX is lower by 0.4% with roughly 60% of its components trading in the red. Volkswagen has tumbled 4.8% while peers BMW and Daimler trade lower by 1.1% and 0.7%, respectively. On the upside, Adidas, Merck, and Lufthansa are among the leaders with 0.3% and 1.0%.
In France, the CAC trades down 0.2% with ArcelorMittal diving 7.5% after peer Valeo guided cautiously. On the flip side, a handful of consumer names outperform with Accor, Louis Vuitton, L'Oreal, and Danone up between 0.1% and 1.2%.
UK's FTSE has bucked the trend, trading higher by 0.3%. Miners and health care names have contributed to the relative strength as AstraZeneca, GlaxoSmithKline, Shire, Randgold Resources, and Fresnillo hold gains between 1.6% and 2.2%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +0.10. Nasdaq futures vs fair value: +7.30.

The S&P 500 futures trade within a point of fair value.

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 217,000 in November while the Briefing.com consensus expected a reading of 185,000. The October reading was revised up to 196,000 from 182,000.

Productivity data for the third quarter showed an increase of 2.2%, which was better than the 1.6% increase that had been reported in the preliminary reading. The reading was in-line with the Briefing.com consensus. Unit labor costs for the third quarter were revised higher to reflect an increase of 1.8% after they had reportedly increased 1.4% in the preliminary reading. Economists polled by Briefing.com had expected that unit labor costs would be revised down to 1.2%.

7:54 am: [BRIEFING.COM] S&P futures vs fair value: -1.90. Nasdaq futures vs fair value: +3.30.

U.S. equity futures are little changed amid mixed action overseas. The S&P 500 futures hover two points below fair value after spending the night in a seven-point range.

So far today, investors have received the latest weekly MBA Mortgage Index, which ticked down 0.2% to follow last week's 3.2% decline. More data awaits with November ADP Employment Change (Briefing.com consensus 185,000) set to be reported at 8:15 ET while Q3 Productivity (consensus 2.2%) and Unit Labor Cost data (expected 1.2%) will be released at 8:30 ET. The Federal Reserve will top things off with its 14:00 ET release of the December Beige Book.

Treasuries hold modest losses with the 10-yr yield up two basis points at 2.16%.

In U.S. corporate news of note:

Yahoo! (YHOO 35.02, +1.31): +4.1% after the Wall Street Journal reported the company may sell its core business unit.
Qualcomm (QCOM 50.30, +1.00): +2.0% after licensing its 3G and 4G technology to Xiaomi
Royal Bank of Canada (RY 57.69, +0.10): +0.2% after beating bottom-line estimates on light revenue.

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei -0.4%, Hong Kong's Hang Seng +0.4%, and China's Shanghai Composite +2.3%
In economic data:
Australia's Q3 GDP +0.9% quarter-over-quarter (expected 0.8%; previous 0.3%); +2.5% year-over-year (consensus 2.4%; last 1.9%)
Japan's Monetary Base +32.5% year-over-year (consensus 35.2%; previous 32.5%)
South Korea's October Current Account surplus narrowed to KRW7.19 billion from KRW9.76 billion
In news:
Reserve Bank of Australia Governor Glenn Stevens commented on the better than expected GDP report, saying the outlook for moderate growth remains on track

Major European indices trade mostly lower. Germany's DAX -0.5%, France's CAC -0.3%, and UK's FTSE +0.4%. Elsewhere, Italy's MIB -0.1% and Spain's IBEX -0.3%.
Investors received several data points:
Eurozone November CPI +0.1% year-over-year (expected 0.2%; previous 0.1%) and Core CPI +0.9% year-over-year (consensus 1.1%; previous 1.1%). Separately, October PPI -0.3% month-over-month (expected -0.4%; last -0.4%); -3.1% year-over-year (consensus -3.2%; prior -3.2%)
UK's November Construction PMI 55.3 (expected 58.2; last 58.8)
Spain's Unemployment Change -27,100 (expected -10,300; previous 82,300)
Among news of note:
European investors are biding time ahead of tomorrow's policy decision from the European Central Bank. Currently, the ECB is expected to keep its key interest rate at 0.05%, but the Deposit Facility Rate is expected to be lowered to -0.3% from -0.2%. In addition, it would not be shocking if the ECB decided to increase the pace of its purchases. The euro has given up about 30 pips against the dollar this morning with the pair trading near 1.0595.

5:51 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +9.00.

5:51 am: [BRIEFING.COM] Nikkei...19938.13...-74.30...-0.40%. Hang Seng...22479.69...+98.30...+0.40%.

5:51 am: [BRIEFING.COM] FTSE...6426.47...+30.80...+0.50%. DAX...11317.48...+56.20...+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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