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 Post subject: December 8th Tuesday Trade Results - Profit $7562.50
PostPosted: Tue Dec 08, 2015 6:35 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 @ $7562.50 dollars or +151.25 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $7562.50 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=150&t=2238

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


4:05 pm: [BRIEFING.COM] The stock market endured a shaky session on Tuesday, but the key indices managed to recover a portion of their losses by the close. The S&P 500 settled in the middle of its trading range, surrendering 0.7%, while the Nasdaq Composite (-0.1%) outperformed throughout the day.

Equity indices began the day under heavy pressure after the overnight session featured some disappointing economic data from China. Specifically, the country's November trade surplus narrowed to $54.10 billion from $61.64 billion (expected surplus of $63.30 billion) as exports fell 6.8% year-over-year (consensus -5.0%; previous -6.9%) and imports declined 8.7% (expected -12.6%; last -18.8%).

The smaller than expected trade surplus re-invited the same global growth concerns that have been plaguing the market throughout the year. Accordingly, commodities retreated with crude oil falling more than 2.0% before pulling back. The energy component made a brief appearance in the green, but could not avoid a lower close, slipping 0.3% to $37.51/bbl after marking a session low near $36.64/bbl.

The rebound in crude helped alleviate some of the pressure in the stock market, but the S&P 500 could not return above its 200-day moving average (2,064), which served as resistance.

Nine of ten sectors ended in the red while health care (+0.2%) eked out a slim gain thanks to relative strength in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 330.59, +6.31) rallied 2.0%, which helped the Nasdaq end the day near its flat line.

Similarly, the technology sector (-0.2%) contributed to the relative strength in the Nasdaq, but the top-weighted sector could not stay out of the red as high-beta chipmaker names weighed. To that point, the PHLX Semiconductor Index fell 0.9%.

Unlike technology, most of the remaining cyclical sectors ended among the laggards with energy (-1.5%) widening this week's decline to 5.1% while the industrial sector (-1.6%) was pressured by transport stocks. The Dow Jones Transportation Average tumbled 2.8% with Southwest Air (LUV 45.04, -4.47) diving 9.0% after the company lowered its Q4 on unit revenue guidance.

Treasuries notched their highs during the opening retreat in the stock market, but the 10-yr note slipped into the red in the late afternoon, pushing its yield up one basis point to 2.23%.

Today's participation was a bit above average as more than 915 million shares changed hands at the NYSE floor.

Economic data was limited to the October Job Openings and Labor Turnover Survey, which showed that job openings decreased to 5.383 million from a revised reading of 5.534 million (from 5.526 million).

Tomorrow's economic data will include the 7:00 ET release of the weekly MBA Mortgage Index and the October Wholesale Inventories report (Briefing.com consensus 0.1%), which will be released at 10:00 ET.

Nasdaq Composite +7.7% YTD
S&P 500 +0.2% YTD
Dow Jones Industrial Average -1.4% YTD
Russell 2000 -3.6% YTD

3:40 pm: [BRIEFING.COM]

The dollar index slid lower today, which helped give some commodities some strength
After almost running $2/barrel to $38.58/barrel this morning, Jan crude oil reverse and consolidated in afternoon trade, closing the day out at $37.51/barrel, down $0.12.
Jan natural gas recovered and closed today's session unchanged at $2.07/MMBtu
Gold and silver remained consolidated today following overnight losses
Feb gold ended floor trading +$0.20 at $1075.50/oz, while Mar silver closed -1.5% at $14.13/oz

3:00 pm:

[BRIEFING.COM] Quiet afternoon action continues with the S&P 500 (-0.5%) and the Dow (-0.7%) remaining below their flat lines while the Nasdaq (+0.1%) has benefitted from relative strength in biotechnology and technology.

The iShares Nasdaq Biotechnology ETF (IBB 331.27, +6.99) has spiked 2.2% with the relative strength keeping the health care sector (+0.5%) above its flat line. As for technology, the top-weighted group sits just below the unchanged level with heavyweights Microsoft (MSFT 55.99, +0.18) and Google (GOOGL 777.86, +4.87) showing respective gains of 0.4% and 0.7%.

Elsewhere in technology, high-beta chipmakers have struggled to keep pace with the market as the PHLX Semiconductor Index (-0.6%) extends this week's loss to 1.6% versus a 1.2% week-to-date decline in the S&P 500.

2:30 pm:

[BRIEFING.COM] The major U.S. indices remain near their recent levels with the Nasdaq testing its flatline (0.1%) while the Dow Jones (-0.6%) and S&P (-0.4%) remain in the red.

Interesting to note, the Dow Jones Transportation Average is down 2.6% today despite oil slipping for most of the day. Southwest Air (LUV 45.35, -4.12) is the weakest DJTA component, trading lower by 8.3% after lowering its Q4 on unit revenue. However, other index members have not fared much better with United Continental Holdings (UAL 58.73, -1.79) and Norfolk Southern (NSC 87.90, -4.02) showing respective losses of 3.2% and 4.4%. Including today's decline, the Dow Jones Transportation Average is lower by 3.4% for the week and down 5.1% so far in December.

Elsewhere, the consumer discretionary sector (-0.1%) continues teetering on its flat line, thanks in part to Amazon (AMZN 677.29, 6.18) and Netflix (NFLX 127.30, 1.89).

2:00 pm:

[BRIEFING.COM] Trading is restrained in the early afternoon session with all major indices trading within narrow ranges. The Dow Jones continues to lead to the downside with a loss of -0.9%, followed by the S&P 500 (-0.6%), and the Nasdaq (-0.1%).

The health care sector (0.1%) remains on top of the leaderboard while the meaning groups trade in the red. Meanwhile, industrials and materials continue seeing the heaviest pressure, posting losses of 1.5% each.

Also of note, oil has returned into the red for the day, down 0.3% to $37.57/bbl with the pit close coming up in 30 minutes.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have pushed back lower in recent trade as the Dow Jones Industrial Average underperforms.

A look inside the Dow shows that Caterpillar (CAT 66.41, -1.93), Exxon Mobil (XOM 74.92, -1.88), and Boeing (BA 144.96, -3.49) are underperforming. Caterpillar and Boeing are lagging in conjunction with strong weakness in the entire industrials space, today's worst performing sector. Similarly, Exxon is lower along with its energy peers as the industry continues to see strong pressure to the downside as WTI and brent crude extend their declines.

Conversely, Microsoft (MSFT 55.85, +0.04) is the best-performing and sole Dow component in positive territory as technology fares mildly well in today's broad market decline.

Adding to yesterday's weakness, the DJIA is now down 1.6% this week and has pushed its year-to-date decline to 1.4%.

Elsewhere, the Treasury's $24 bln 3-year auction at the top of the hour drew a high yield of 1.255% on a bid-to-cover of 2.14.
Related Quotes

12:55 pm:

[BRIEFING.COM] Equity indices trade broadly lower at midday, which puts the stock market on track for its second consecutive decline with global growth concerns returning into focus. The S&P 500 trades lower by 0.7% while the Nasdaq Composite (-0.2%) outperforms.

Overnight, China reported its latest trade data, which was a disappointment as the November surplus narrowed to $54.10 billion (expected surplus of $63.60 billion) with exports falling 6.8% year-over-year (consensus -5.0%). The news rekindled concerns about the pace of global growth, which has pressured commodities.

Most notably, crude oil trades up 0.4% at $37.83/bbl after being down more than 2.0% in the early going. The energy component traded near its low at the start of the Wall Street session, but a rebound in crude has helped the market climb off its session low.

Although the S&P 500 has climbed off its low, the index has struggled near its 200-day moving average (2,064) amid losses in nine of ten sectors.

Broadly speaking, cyclical sectors have shown relative weakness with four of six growth-sensitive groups trading behind the S&P 500 at this juncture. The industrial sector (-1.6%) trades behind its peers with transport stocks largely responsible for the weakness. The Dow Jones Transportation Average has given up 2.3% with airlines pacing the slide after Southwest Air (LUV 45.78, -3.73) lowered its Q4 unit revenue guidance.

Elsewhere, energy (-1.0%) and financials (-1.2%) also lag while technology (-0.4%) and consumer discretionary (-0.4%) trade a bit ahead of the broader market. The top-weighted tech sector has helped the Nasdaq (-0.2%) trade ahead of the S&P 500 while biotechnology has also made a contribution. To that point, the iShares Nasdaq Biotechnology ETF (IBB 329.33, +5.05) is higher by 1.6% while the broader health care sector (+0.2%) sits just above its flat line.

Treasuries have spent the day inside narrow ranges and they currently hold a slim gain with the 10-yr yield down one basis point at 2.22%.

Today's economic data was limited to the October Job Openings and Labor Turnover Survey, which showed that job openings decreased to 5.383 million from a revised reading of 5.534 million (from 5.526 million).

12:25 pm:

[BRIEFING.COM] Equity indices continue trading in the red with the Dow (-1.0%) trailing the S&P 500 (-0.7%).

The energy sector (-1.1%) paced today's opening retreat, but the growth-sensitive group has climbed off its low thanks to a rebound in crude oil, which is now down 0.4% at $37.51/bbl after marking a session low near $36.64/bbl.

Elsewhere among cyclical sectors, only consumer discretionary (-0.4%) and technology (-0.5%) trade ahead of the broader market while other growth-sensitive groups lag. For instance, the industrial sector is lower by 1.6%, which puts the group behind the remaining nine sectors. Transport stocks have contributed to the relative weakness with the Dow Jones Transportation Average trading lower by 2.3%. The bellwether complex has suffered from broad based weakness with airlines at the bottom of the barrel after Southwest Air (LUV 45.78, -3.73) lowered its Q4 unit revenue guidance.

Unlike stocks, Treasuries have spent the day in a narrow range with the 10-yr yield currently down one basis point at 2.22%.

12:00 pm:

[BRIEFING.COM] All the major indices remain in negative territory as the rally that was taking shape earlier appears to have hit resistance. The Dow Jones (-0.8%) is showing the widest loss, followed by the S&P 500 (-0.5%), and the Nasdaq (-0.1%).

Oil appears to be struggling to maintain its ground following this morning's rebound off lows. It is now trading back below $38/bbl at $37.52/bbl (-0.4%).

On the upside, the health care sector leads with a fleeting gain thanks to the continued strength of the biotech group. The iShares Nasdaq Biotechnology ETF (IBB 327.97, +3.69) is higher by 1.4%.

11:25 am:

[BRIEFING.COM] Recent action saw an acceleration of the rebound, which began taking shape around 10:30 ET. The S&P 500 has narrowed its loss to 0.2% while the Nasdaq (-0.1%) has made a brief appearance in the green.

The tech-heavy Nasdaq has benefitted from relative strength in the biotech group, evidenced by a 1.8% spike in the iShares Nasdaq Biotechnology ETF (IBB 329.97, +5.69). Furthermore, the strength in biotechnology has lifted the health care sector (+0.3%) to the top of today's leaderboard.

Similar to health care, the consumer discretionary sector (+0.2%) has made it into positive territory while the remaining groups continue trading in the red. As for the discretionary space, Autozone (AZO 788.11, +35.94) has surged 4.8% in reaction to better than expected earnings while other sector component trade in mixed fashion. To be fair, top-weighted discretionary names like Amazon (AMZN 672.37, +2.53) and Netflix (NFLX 126.87, +1.51) have also contributed to the relative strength in the sector and the Nasdaq Composite.

11:00 am:

[BRIEFING.COM] The major averages remain in the red, but they have climbed off their lows with the S&P 500 trimming its loss to 0.5%.

The rebound in stocks has occurred alongside buying interest in crude oil, which has lifted the energy component into the green. At this juncture, crude is trading up 1.0% $38.03/bbl, after dipping as low as $36.64/bbl this morning.

The industrial sector has overtaken energy (-0.7%) as the weakest sector of the day, trading lower by 1.3%.

The remaining sectors have climbed off their lows alongside the broader market. The only sector in the green is the health care space, which trades higher by 0.1%.

Treasuries have surrendered their gains and are now little changed with the 10-yr yield at 2.23%.

10:30 am: [BRIEFING.COM]

The dollar index has traded in a wide range around the flat-line so far this session, gaining against commodity currencies but losing ground against the Euro
Negative November export and import data out of China (showing -6.8% and -8.7% Y/Y growth respectively) is putting pressure on several currency pairs
In-line Q3 Eurozone GDP (at 1.6%) meanwhile, has driven substantive strength in the Euro and weakness in the dollar
The index is now seeing modest losses at -0.4% to 98.39
Energy futures traded near-flat overnight, with both crude and natural gas hovering near yesterday's close.
Crude then saw moderate selling pressure in early trade, largely reflecting recent price action momentum, increases in Chinese exports (via last night's data and seen as a potential indicator of domestic demand slack) and ongoing production disagreement out of OPEC. January WTI is now -1% to $37.28/barrel
Natural gas has seen a more extended sell-off in early/recent action however, with warm weather-related demand concern being a key price driver in pressing the January contract down -1.1% to $2.05/MMBtu
Copper is ticking moderately higher at +0.9% to $2.07/oz, as the overnight Chinese import data showed increased purchases (+10% Y/Y) of the red metal.
Gold is now -0.2% to $1072.70/oz and silver is -1.3% to $14.16/oz

10:05 am:

[BRIEFING.COM] The S&P 500 trades lower by 0.8%.

Just reported, the October Job Openings andLabor Turnover Survey showed that job openings decreased to 5.383 million from 5.534million.

9:40 am:

[BRIEFING.COM] As expected, the major indices have opened under selling pressure. The S&P 500 trades lower by 1.1% with all ten groups showing considerable losses.

The energy sector (-3.1%) has led the decline with crude oil continuing its recent fall, diving 1.9% to $36.97/bbl. Meanwhile, the materials sector is trading with the next largest loss (-1.8%) .

Elsewhere, Treasuries remain near their highs with the 10-yr yield down two basis points at 2.22%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -18.50. Nasdaq futures vs fair value: -48.70.

The stock market is on track to open sharply lower as the oil selloff continues ($36.70/bbl, -2.5%). Overnight, China released its trade data, showing that exports fell by 6.8% (expected -5.0%), which has stoked up concerns of a global slowdown.

On the corporate front shares of Outerwall (OUTR 46.01, -12.05) have fallen 20.8% in pre-market after lowering its earnings, revenue, EBITDA, and Redbox guidance below analyst estimates.

Elsewhere, Chipotle Mexican Grill (CMG 525.76, -25.99) has added to its losses, falling 4.7% on the news of additional E. coli cases in the Boston area.

Today's economic data will be limited to the JOLTS report which will be released at 10:00 ET.

Treasuries have climbed to new highs with the 10-yr yield down two basis points at 2.21%.

8:52 am: [BRIEFING.COM] S&P futures vs fair value: -16.20. Nasdaq futures vs fair value: -41.50.

The S&P 500 futures trade 16 points below fair value.

Markets in the Asia-Pacific region ended Tuesday mostly lower. There was a fair amount of data coming out of the region, but the economic news did little to provide a catalyst to change the tone in the markets. First, the Nikkei (-1.0%) gave back all of yesterday's gain after Japan released its revised GDP for Q3, which came in at +0.3%, vs the preliminary reading of -0.1%. The figure suggested Japan managed to stave off another recession (for the time being), which likely gave investors the inclination the BoJ will stand pat on monetary policy for the foreseeable future. Although the release seemed to paint a better picture for Japan's economy, the same cannot be said for China, considering it posted less than stellar Trade Balance data, coming in below expectations at $54.10 billion (expected $64.00 billion). The headline figure marked the lowest level since August and the underlying metrics offered little encouragement, with exports falling 6.8% (expected -5.0%). The results gave Mainland investors little incentive to add to equity exposures, paving the way for a 1.9% slide in the Shanghai Composite.

In economic data:
China's November trade surplus narrowed to $54.10 billion from $61.64 billion (expected surplus of $63.30 billion) as Exports fell 6.8% year-over-year (consensus -5.0%; previous -6.9%) and Imports declined 8.7% (expected -12.6%; last -18.8%)
Japan's Q3 GDP was revised up to 0.3% from -0.1% quarter-over-quarter (expected 0.0%); +1.0% year-over-year (consensus 0.1%; previous -0.5%). Separately, October Current Account surplus expanded to JPY1.49 trillion from JPY780 billion (expected JPY1.53 trillion) and November Economy Watchers Current Index 46.1 (expected 48.6; previous 48.2)
New Zealand's Q3 Manufacturing Sales Volume 3.5% (previous -0.2%)

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Japan's Nikkei declined 1.0%. With the broader down, some of the more defensive names outperformed the benchmark with Consumer Staples falling only 0.5%, while Energy (-3.7%) and Materials (-1.5%) were the worst performing sectors in the Nikkei, following the weakness in the underlying commodities. Among some of the other notable laggards came out of the consumer discretionary and banking stocks. That left shares of Pioneer (-4.0%), Toshiba (-3.0%), Mizuho (-1.7%) and Mitsubishi Financial (-1.0%) assist in pacing the way to the downside.
Hong Kong's Hang Seng declined by 1.3% and finished at near the lows. Industrials were in focus after Guangzhou Automobile Group fell 3.6% after the co released its November sales results. Financials were also hot on the traders sell list today, with the likes of PICC Property & Casualty dropping 6.9% after AIG announced it would let go of some of its equity share in the company. Country Garden Holdings also finished in the red, declining 2.3% after it provided an updated YTD performance on its key metrics.
China's Shanghai Composite declined 1.9% after weakness in equities held strong after the Trade Data. Energy names were on the move lower, suffering from the cautious outlook on the domestic economy, in addition to crude prices hitting a 7-year low. As such, shares in CNOOC were hit particularly hard, shedding 4.0% on the day. There were a few names that managed to fly above the most of the stocks on the mainland, with China Airlines (+6.6%), China Southern Airlines (+3.7%), Hainan Airlines Co (+2.8%).

Major European indices trade lower across the board with losses exceeding 1.0% in the regional indices. On a separate note, Greek Finance Minister Euclid Tsakalotos said that the Greek reform program is proceeding as planned with milestones expected to be reached by December 11, ahead of the December 20 deadline set by the EU.

Participants received several data points:
Eurozone Q3 GDP +0.3% quarter-over-quarter, as expected; +1.6% year-over-year, as expected
UK's October Industrial Production +0.1% month-over-month, as expected; +1.7% year-over-year (expected 1.2%; previous 1.5%). Separately, October Manufacturing Production -0.4% month-over-month (expected -0.1%; previous 0.9%); -0.1% year-over-year, as expected (previous -0.2%). Also of note, November Halifax House Price Index -0.2% month-over-month (expected 0.3%; previous 1.0%); +9.0% year-over-year (expected 9.5%; previous 9.7%)
France's October trade deficit widened to EUR4.60 billion from EUR3.60 billion (expected deficit of EUR3.30 billion)

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UK's FTSE is lower by 1.2% with more than 90% of its components in the red. Miners have paced the retreat with Anglo American, Antofagasta, BHP Billiton, Glencore, Rio Tinto, and Randgold Resources down between 3.4% and 8.9% after Anglo American revealed plans to slash its workforce by nearly two thirds. On the upside, consumer names outperform with Sainsbury, WM Morrison Supermarkets, and Tesco all up near 0.7%.
Germany's DAX trades down 1.4% with all but one component in the red. Exporters BMW, Daimler, and Volkswagen show losses between 2.2% and 3.4% while financials also lag. Deutsche Bank and Commerzbank are both down near 2.6%. Elsewhere, Fresenius has added 0.7%.
In France, the CAC has given up 1.4%. ArcelorMittal has tumbled 7.0% in reaction to the continued weakness in commodities while financials Credit Agricole and Societe Generale are both down near 2.5%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -16.70. Nasdaq futures vs fair value: -43.00.

U.S equity futures have continued trading lower over concerns regarding global demand issues that are manifesting themselves through lower oil prices. Overnight China's trade data disappointed with importing falling 8.7%(expected -12.6%) while exports fell 6.8% (expected -5.0%).

The decline in exports was worse than expected, which has re-introduced global growth concerns. As a result, crude oil has continued yesterday's sharp retreat, trading lower by 2.0% at $36.88/bbl.

On a related note, the Dollar Index ( 98.56, -0.09) is lower 0.1%.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -15.00. Nasdaq futures vs fair value: -41.00.

U.S. equity futures trade near their pre-market lows amid defensive action overseas. The S&P 500 futures hover 15 points below fair value after hitting their lowest levels of the morning during the past hour.

Despite the weakness in equity futures, Treasuries hover just above their flat lines with the 10-yr yield lower by two basis points at 2.21%.

Once again, today will be very quiet on the economic front with data limited to the October Job Openings and Labor Turnover Survey, which will be released at 10:00 ET.

In U.S. corporate news of note:

Outerwall (OUTR 45.00, -13.06): -22.5% after lowering its earnings, revenue, EBITDA, and Redbox guidance below analyst estimates
Chipotle Mexican Grill (CMG 520.00, -31.75): -5.8% amid reports of more E. coli cases.
United Natural Foods (UNFI 38.10, -5.93): -13.5% after reporting a bottom-line miss and issuing below-consensus earnings guidance.
Conns (CONN 24.25, -0.39): -1.6% after missing top-line estimates and reaffirming its 2016 same store sales guidance.

Reviewing overnight developments:

Asian markets ended lower across the board. China's Shanghai Composite -1.9%, Hong Kong's Hang Seng -1.3%, and Japan's Nikkei -1.0%
In economic data:
China's November trade surplus narrowed to $54.10 billion from $61.64 billion (expected surplus of $63.30 billion) as Exports fell 6.8% year-over-year (consensus -5.0%; previous -6.9%) and Imports declined 8.7% (expected -12.6%; last -18.8%)
Japan's Q3 GDP was revised up to 0.3% from -0.1% quarter-over-quarter (expected 0.0%); +1.0% year-over-year (consensus 0.1%; previous -0.5%). Separately, October Current Account surplus expanded to JPY1.49 trillion from JPY780 billion (expected JPY1.53 trillion) and November Economy Watchers Current Index 46.1 (expected 48.6; previous 48.2)
New Zealand's Q3 Manufacturing Sales Volume 3.5% (previous -0.2%) In news: The upward revision to Japan's Q3 GDP helped the country avoid a technical recession after the preliminary reading showed a slight contraction (-0.1% quarter-over-quarter)

Major European indices trade broadly lower. Germany's DAX -1.4%, France's CAC -1.3%, and UK's FTSE -1.1%. Elsewhere, Italy's MIB -1.8% and Spain's IBEX -1.6%
Participants received several data points:
Eurozone Q3 GDP +0.3% quarter-over-quarter, as expected; +1.6% year-over-year, as expected
UK's October Industrial Production +0.1% month-over-month, as expected; +1.7% year-over-year (expected 1.2%; previous 1.5%). Separately, October Manufacturing Production -0.4% month-over-month (expected -0.1%; previous 0.9%); -0.1% year-over-year, as expected (previous -0.2%). Also of note, November Halifax House Price Index -0.2% month-over-month (expected 0.3%; previous 1.0%); +9.0% year-over-year (expected 9.5%; previous 9.7%)
France's October trade deficit widened to EUR4.60 billion from EUR3.60 billion (expected deficit of EUR3.30 billion)
Among news of note:
Greek Finance Minister Euclid Tsakalotos said that the Greek reform program is proceeding as planned with milestones expected to be reached by December 11, ahead of the December 20 deadline set by the EU.

5:49 am: [BRIEFING.COM] S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -13.50.

5:49 am: [BRIEFING.COM] Nikkei...19492.60...-205.60...-1.00%. Hang Seng...21905.13...-298.10...-1.30%.

5:49 am: [BRIEFING.COM] FTSE...6193.82...-28.70...-0.50%. DAX...10842.72...-43.40...-0.40%.

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)
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