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 Post subject: December 9th Wednesday Trade Results - Profit $10250.00
PostPosted: Thu Dec 10, 2015 12:23 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 @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $10250.00 dollars or +205.00 points, Light Crude Oil CL ($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 @ $10250.00 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=2239

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 affair on a broadly lower note with the S&P 500 surrendering 0.8% after being up 0.8% in the early going. The benchmark index returned below its 200-day moving average (2,064) while the Nasdaq (-1.5%) underperformed throughout the day.

The early portion of today's session appeared to have the makings of a rebound, but the opening strength was entirely due to significant gains in two commodity-related sectors. The materials space (+3.1%) ended comfortably in the lead after it was reported that Dow Chemical (DOW 56.97, +6.07) and DuPont (DD 74.49, +7.89) are in advanced merger talks. Both names surged 11.9% with DuPont's strength keeping the Dow ahead of the broader market.

Similar to materials, the energy sector (+1.3%) ended well ahead of the broader market, but it is worth noting that today's gain occurred after the growth-sensitive group gave up 4.8% over the past two days. Crude oil, however, could not remain in the green, ending the day lower by 0.9% at $37.18/bbl even though the latest storage report from the Energy Information Administration showed the biggest inventory draw in four months.

That storage report briefly propelled crude into the $39.00/bbl area, but the ensuing reversal in oil coincided with the turn in the equity market that left just three sectors in the green when the closing bell rang.

The late morning slide from highs was paced by the technology sector (-1.5%), which struggled from the start. The top-weighted group kept the Nasdaq behind the S&P 500 while biotechnology also weighed on the tech-heavy index. The iShares Nasdaq Biotechnology ETF (IBB 325.20, -5.39) settled lower by 1.6% while the health care sector lost 1.0%.

Similar to technology, heavily-weighted financials (-1.2%) and consumer discretionary (-1.2%) contributed to the intraday selloff. Lululemon (LULU 45.31, -6.84) was among the notable laggards in the discretionary space, falling 13.1%, after below-consensus earnings and revenue guidance overshadowed a bottom-line beat.

Staying on the retail theme, Costco (COST 159.72, -9.15) fell 5.4% after missing earnings and revenue estimates while the broader consumer staples sector (-0.9%) settled just behind the broader market.

The cautious posture exhibited in the market was not unique to stocks as currency traders also displayed some unease, evidenced by a rally in the yen that caused the dollar/yen pair to slide 1.3% to 121.35. Similarly, the euro rallied 1.2% against the dollar to 1.1020, suggesting some carry trades were unwound intraday.

Treasuries retreated during the morning advance in stocks, but they climbed to highs in the afternoon, sending the 10-yr yield lower by a basis point to 2.21%.

Today's participation was better than average with more than 975 million shares changing hands at the NYSE floor.

Economic data was limited to Wholesale Inventories and MBA Mortgage Index:

October Wholesale Inventories fell 0.1% while the Briefing.com consensus expected an increase of 0.2%
The September reading was revised down to 0.2% from 0.5%
The inventories/sales ratio was 1.31 in October, up from 1.22 in October 2014
The September reading was revised down to 0.2% from 0.5%
The inventories/sales ratio was 1.31 in October, up from 1.22 in October 2014
The weekly MBA Mortgage Index rose 1.2% to follow last week's 0.2% downtick

Tomorrow, weekly Initial Claims (Briefing.com consensus 269K) and November Import/Export Prices will be reported at 8:30 ET while the November Treasury Budget will be released at 14:00 ET.

Nasdaq Composite +6.1% YTD
S&P 500 -0.6% YTD
Dow Jones Industrial Average -1.9% YTD
Russell 2000 -4.6%

3:00 pm:

[BRIEFING.COM] Looking ahead to the last hour of trading, all the major indices are lower with the Nasdaq (-1.8%) pacing the losses for the day and for the week (-2.6%).

Simultaneously, nine of the ten sectors that comprise the S&P are showing losses on the week. The one sector that is showing a slim gain is the utilities space (0.1%), which is generally viewed as a defensive sector.

Interestingly, crude oil has not been able to see any respite from the weaker dollar, as the Dollar Index (97.34, -1.13) trades down 1.1%. As for oil, the energy component settled lower by 0.9% at $37.18/bbl after surrendering an earlier gain.

3:00 pm: [BRIEFING.COM]

The dollar index slid lower today, which helped hold up the commodity complex. However, plenty of weakness was left to be seen.
WTI oil futures did get a real boost following the weekly EIA storage data with the front-month Jan contract rising as high as $38.99/barrel. However, oil reversed quickly and closed out the day -0.9% at $37.18/barrel. Jan crude fell as low as $36.87/barrel.
Jan nat gas lost out today as well, closing -0.5% at $2.06/MMBtu.
Silver consolidated after the earlier sell-off, while gold recovered a bit. Feb gold finished floor trading +0.1% at $1076.60/oz, while Mar silver ended +0.4% at $14.18/oz
Grains saw some action today after the USDA released its monthly WASDE report. However, not too much.
Mar corn ended the day one cent higher at $3.74/bushel, while Mar wheat closed +$0.09 at $4.90/bu. Jan soybeans rose $0.01 to $8.78/bu.

2:30 pm:

[BRIEFING.COM] All the major indices are trading within ranges of their session lows with the S&P 500 down 1.0% while the Nasdaq (-1.8%) lags.

The tech-heavy Nasdaq cannot seem to overcome the selling pressure brought on by losses from technology and biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 324.23, -6.36) is lower by 2.0% while the S&P information technology sector is down 1.9% on the day.

Elsewhere, the utilities sector (UNCH) had briefly joined the energy (+0.6%) and materials (2.7%) sectors on the positive side of the leaderboard thanks to the bid in the 10-yr note, which has dropped the benchmark yield to 2.21%, thus increasing the relative appeal of utility stocks over Treasuries.

2:00 pm:

[BRIEFING.COM] Selling pressure appears to be easing in the afternoon session with all the major indices trading near their early afternoon lows. The Dow Jones continues to lead the upside with a loss of 0.5%, followed by the S&P (-0.9%), and the Nasdaq (-1.6%).

The materials sector (+2.7%) remains on top of the leaderboard with energy (+0.3%) narrowly holding onto its gain. The sharp reversal in oil had the energy component marking a session low at $36.87/bbl before rebounding slightly to $37.28 (-0.6%).

Meanwhile, information technology (-1.6%), consumer discretionary (-1.3%), and financials (-1.2%) continue seeing the heaviest selling pressure. Top-weighted tech components Alphabet (GOOG 743.03, -19.34) and Apple (AAPL 115.55, -2.68) sport losses of 2.3% and 2.2%, respectively.

Treasuries have seen an uptick in buying, dropping the yield on the 10-yr note to 2.22% (UNCH).

1:35 pm:

[BRIEFING.COM] The major U.S. indices have seen a small uptick since our last update, but still drag notably in negative territory.

A look inside the Dow Jones Industrial Average shows that Apple (AAPL 115.29, -2.94), Nike (NKE 128.88, -2.82), and Microsoft (MSFT 54.66, -1.13) underperform. Apple and Microsoft are among the worst performers as the tech sector drags, today's worst-performing space. Similarly, Nike is under pressure as consumer discretionary names lag as well.

Conversely, DuPont (DD 74.25, +7.65) is the best-performing Dow component following last night's WSJ report that it and Dow Chemical (DOW 56.37, +5.47) are in advanced talks to merge, in a potential $120 bln deal. CNBC's David Faber later reported that a formal announcement could come as soon as tomorrow.

As stocks continue to sell-off, the DJIA is now down over 2.3% this week alone.

Elsewhere, the Treasury's $21 bln 10-year auction at the top of the hour drew a high yield of 2.233% on a bid-to-cover of 2.64.

12:55 pm:

[BRIEFING.COM] The major averages trade near their lows at midday after sliding from their morning highs. The Nasdaq Composite (-1.8%) has paced the retreat while the S&P 500 (-1.1%) and Dow Jones Industrial Average (-0.8%) hold slimmer losses. Given this time of the year, tax-loss selling has likely factored into the retreat, but it is difficult to assess the magnitude of those outflows.

Equities began the trading day on an upbeat note thanks to early strength in the two commodity-related sectors. Most notably, the materials space (+2.5%) was up more than 4.0% at the start amid reports that Dow Chemical (DOW 56.15, +5.25) and DuPont (DD 73.88, +7.28) have engaged in merger talks. The two names hold respective gains of 10.3% and 10.9% with DuPont's strength keeping the Dow Jones Industrial Average ahead of the broader market.

Similar to materials, the energy sector (+0.5%) has displayed strength since the opening bell, but the group has retreated from its high alongside crude oil. The energy component is currently lower by 1.6% at $36.91/bbl after marking a session high just below the $39.00/bbl mark. WTI crude spiked into that area after the Energy Information Administration storage report showed the biggest draw in four months, but the resulting gain has evaporated in a flash.

The pullback in crude oil has coincided with renewed selling in the stock market. As a result, eight sectors display midday losses with heavily-weighted technology (-1.7%), consumer discretionary (-1.5%) financials (-1.4%), and health care (-1.2%) trading behind the broader market.

For its part, the technology sector has struggled since the opening bell, which has kept the Nasdaq behind the broader market. In addition, the index has been pressured by biotechnology as the iShares Nasdaq Biotechnology ETF (IBB 324.10, -6.49) trades lower by 2.0% at this juncture. Large cap tech names have also contributed to the weakness in the Nasdaq with the likes of Apple (AAPL 115.65, -2.58), Alphabet (GOOGL 759.00, -16.14), and Microsoft (MSFT 54.80, -0.99) all down near 2.0% apiece.

Treasuries have climbed off their lows in recent action, but they remain in the red with the 10-yr yield up one basis point at 2.23%.

Today's economic data was limited to Wholesale Inventories and MBA Mortgage Index:

October Wholesale Inventories fell 0.1% while the Briefing.com consensus expected an increase of 0.2%
The inventories/sales ratio was 1.31 in October, up from 1.22 in October 2014
The September reading was revised down to 0.2% from 0.5%
The inventories/sales ratio was 1.31 in October, up from 1.22 in October 2014
The September reading was revised down to 0.2% from 0.5%
The weekly MBA Mortgage Index rose 1.2% to follow last week's 0.2% downtick

12:30 pm:

[BRIEFING.COM] Coming into the early afternoon trading, the Dow Jones (-0.5%) remains ahead of the other indices. On the other side, the tech-heavy Nasdaq is underperforming the market showing losses of 1.6%.

Although the S&P 500 (-0.9%) holds a notable loss, it is important to note that this decline could be much deeper if the materials (3.3%) and energy (1.5%) sectors weren't outperforming the market. Conversely, the information technology sector (-1.3%) has been the hardest hit today. Top-weighted components Apple (AAPL 115.81, -2.42) and Microsoft (MSFT 55.00, -0.79) hold respective losses of 2.0% and 1.4%.

In treasuries, the 10-yr note remains in the red with its yield up two basis points at 2.23% on the day.

12:00 pm:

[BRIEFING.COM] The S&P 500 (-0.3%) looks to be losing momentum as the index has already surrendered its early morning gain and is now negative on the day. The Dow Jones (+0.1%) is the only major index to remain on the positive side thanks entirely due to continued strength in DuPont (74.96, +8.36).

Materials (+3.5%), energy (+1.6%), and industrials (+0.1%) are the only cyclical sectors that are in the green, while the information technology sector leads the losses (-0.8%).

Also of note, oil was unable to stay in positive territory and has tumbled into the red, trading lower by 0.7% at $37.28/bbl.

11:25 am:

[BRIEFING.COM] The Dow (+0.6%) and S&P 500 (+0.2%) remain in the green, but the two indices have backed away from their best levels of the morning.

The bulk of today's advance has been due to significant strength in two commodity-related sectors. The energy space (+2.2%) has benefitted from a rebound in crude, but it is worth noting that the energy component has backed away from its session high, remaining up 0.6% at $37.73/bbl. Meanwhile, the materials sector remains underpinned by Dow Chemical (DOW 56.52, +5.62) and DuPont (DD 75.51, +8.91).

Interestingly, the rest of the market has not shown comparable strength. To that point, heavily-weighted consumer discretionary (-0.1%), financials (-0.1%), and health care (UNCH) hover just below their flat lines while the technology sector (-0.3%) has struggled since the opening bell. This has contributed to the relative weakness in the Nasdaq Composite (-0.5%). Furthermore, the Nasdaq has been pressured by biotechnology with iShares Nasdaq Biotechnology ETF (IBB 328.00, -2.59) trading lower by 0.8%.

11:00 am:

[BRIEFING.COM] The major averages are all in the green with the Dow Jones (+0.9%) leading the pack after two days of heavy losses.

The materials sectors is on top of the leaderboard (+4.1%) with continued interest in heavily-weighted Dow Chemical (DOW 56.80, +5.90) and DuPont (DD 75.13, +8.53) as both show gains of more than 10.0% on news of merger talks.

On the economic front, weekly crude inventories were released at 10:30 ET, showing a decrease of 3.6 million barrels while a build was expected. The news has boosted crude oil, sending it higher by 1.8% to $38.20/bbl. The energy sector has benefited from the spike in crude, trading higher by 2.6% at this juncture. Kinder Morgan (KMI 17.15, +1.43) trades higher by 9.1% despite announcing a dividend cut this morning.

Treasuries have been declining since the open, pushing the 10-yr yield up five basis points to 2.27%.

10:35 am: [BRIEFING.COM]

The dollar trended modestly lower overnight, before seeing a gradual sell-off in early trade on both the strengthening Yen and Euro.
Strength in the Euro has been highlighted by commentary out of the ECB's Ewald Nowotny, stating that markets have misjudged the Eurozone's economic state, with unrealistic perspectives toward potential stimulus. Meanwhile the Yen is strong following positive machinery order data out of Japan. The index is now -0.6% to 97.83.
Precious metals have modestly benefited from the dollar's weakness, with gold +0.1% to $1076.40/oz. Silver is +1% to $14.24/oz -seeing additional peripheral strength from positive Chinese inflation data out overnight.
WTI has trended higher all session, holding gains from a recent bounce near the flat-line ahead of the morning's EIA inventory report
Also Highlighting trade has been bearish commentary from the IEA's Executive Director, indicating that in his view, oil prices could continue to fall in 2016
Also Highlighting trade has been bearish commentary from the IEA's Executive Director, indicating that in his view, oil prices could continue to fall in 2016
Upon release of the data, which showed a draw of 3.57 mln barrels, oil rallied higher and is now +3.7% to $38.86/barrel
Natural gas has traded higher this morning, despite the release of a Short Term Energy Outlook from the EIA, which revised (downward) projected gas prices in 2016 to an avg. of $2.88/MMBtu from $3/MMBtu. Nat gas is now +1.4% to $2.10/MMBtu
Copper has jogged higher at +1.4% to $2.08/lb following overnight reports of higher-than-expected inflation in China (+1.5% for November vs. a 1.3% estimate)

10:05 am:

[BRIEFING.COM] The S&P 500 trades higher by 0.2% while the Nasdaq has fallen 0.2%.

Just released, October wholesale inventories fell 0.1% while the Briefing.com consensus expected an increase of 0.2%. Today's report followed last month's revised increase of 0.2% (from +0.5%).

9:40 am:

[BRIEFING.COM] As expected, the major indices have opened under moderate selling pressure, but they have climbed off their opening lows. The S&P 500 is near its flat line while the Nasdaq (-0.2%) underperforms.

The materials (+3.5%) and energy sectors (+1.6%) are showing strength with materials at the top of the leaderboard after two days of heavy selling. The sector has received a boost from DuPont (DD 77.30) and Dow Chemical (DOW 56.64) as the two sport solid gains after news of merger talks.

Elsewhere, Treasuries remain near their lows with the 10-yr yield up two basis points to 2.24%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -8.70. Nasdaq futures vs fair value: -22.90.

U.S. stock index futures point to a lower open following a defensive overnight sessions. The S&P 500 futures trade nine points below fair value.

On the corporate front, shares of Dow Chemical (DOW 55.94, +5.04) and DuPont (DD 72.34, +5.74) have spiked in pre-market following reports that the two are in advanced merger talks.

Elsewhere, Lululemon (LULU 46.40, -5.76) is down sharply in pre-market trading following the company's release of Q3 results, which showed disappointing revenue and earnings.

Once again, this morning has been quiet on the economic front with data limited to the weekly MBA Mortgage Index, which showed a rise of 1.2% to follow last week's 0.2% decline. One more report will be released today with October Wholesale Inventories (Briefing.com consensus 0.1%) set to cross the wires at 10:00 ET.

Treasuries hold slim losses with the 10-yr yield up one basis point at 2.23%.

8:54 am: [BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -20.20.

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

Markets in the Asia-Pacific region ended Wednesday mostly lower. The Shanghai Composite put in another uninspiring day, closing up just 0.1%. Investors may be taking a cautious approach after recent macro data has suggested reason to at least be concerned about the near-term outlook on the domestic economy. Today was no exception after the state issued inflation data for November, which was largely in line with expectations. Both the central government and the People's Bank of China have been quiet as of late, thus not lending investors much insight as to how the powers that be view the recent data. Elsewhere, Japanese equities were under pressure with much of that attributed to the Nikkei (-1.0%) echoing the downward trajectory seen in the US on Tuesday.

In economic data:
China's November CPI 0.0% month-over-month (expected -0.1%; previous -0.3%); +1.5% year-over-year (consensus 1.4%; last 1.3%). Separately, November PPI -5.9% year-over-year, as expected (prior -5.9%)
Japan's October Core Machinery Orders +10.7% month-over-month (expected -1.5%; previous 7.5%); +10.3% year-over-year (consensus 1.4%; last -1.7%). Separately, M2 Money Stock +3.3% year-over-year (consensus 3.5%; prior 3.7%) and Machine Tool Orders -17.9% year-over-year (previous -22.9%)
Australia's October Home Loans -0.5% month-over-month (expected -1.0%; previous 2.0%) and December Westpac Consumer Sentiment -0.8% (prior 3.9%)
South Korea's December M2 Money Supply +9.0% (previous 9.2%)
China's November CPI 0.0% month-over-month (expected -0.1%; previous -0.3%); +1.5% year-over-year (consensus 1.4%; last 1.3%). Separately, November PPI -5.9% year-over-year, as expected (prior -5.9%)
Japan's October Core Machinery Orders +10.7% month-over-month (expected -1.5%; previous 7.5%); +10.3% year-over-year (consensus 1.4%; last -1.7%). Separately, M2 Money Stock +3.3% year-over-year (consensus 3.5%; prior 3.7%) and Machine Tool Orders -17.9% year-over-year (previous -22.9%)
Australia's October Home Loans -0.5% month-over-month (expected -1.0%; previous 2.0%) and December Westpac Consumer Sentiment -0.8% (prior 3.9%)
South Korea's December M2 Money Supply +9.0% (previous 9.2%)

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Japan's Nikkei declined 1.0%. The market saw declines from the opening bell and was never able to find any footing, with selling pressure dominating the action for the duration of the session. All sectors closed the day in the red, albeit with "safe haven" names pacing the way with Consumer Staples and Health Care down 1.8% and 1.7%, respectively. Not far behind were Consumer Discretionary stocks, down 1.1%. With that said, a couple of notable contrary plays for the day were Sharp (+0.8%) and Toshiba (+0.9%).
Hong Kong's Hang Seng declined 0.5%. The index was unable to find any traction with sentiment continuing to lean downward. Many of the major names within a sector were mixed, with the likes of Want Want closing the day 1.2% lower, while Tencent managed to post a 0.7% gain. The same held true in Energy names after CNOOC took back some of yesterday's losses to finish 1.5% higher, while PetroChina saw sellers in control, falling 1.3%. On a more positive note, China Galaxy Securities (+2.6%) bucked the trend of the broader market after it released its metrics for November.
China's Shanghai Composite gained 0.1%. Property stocks were in focus after local reports suggested the central government may take additional measures to help support demand. The RE index closed up over 5.0% on the speculation. China Vanke Co (+5.8%) was one of the major beneficiaries of that move, but also saw support after the co announced that it continues to add to its stake in Anbang Insurance Group (currently ~5% owned).

Major European indices trade lower across the board with France's CAC (-0.9%) showing relative weakness. The euro has rallied about 0.6% against the dollar this morning, climbing to 1.0950, which puts the pair near its Thursday spike high (1.0981)

Economic data was limited:
Germany's October trade surplus expanded to EUR20.80 billion from EUR19.20 billion (expected surplus of EUR20.00 billion) as exports fell 1.2% month-over-month (expected -0.5%; previous 2.6%) and imports declined 3.4% month-over-month (consensus -1.0%; last 3.8%)
Swiss November Unemployment Rate held at 3.4%, as expected
Germany's October trade surplus expanded to EUR20.80 billion from EUR19.20 billion (expected surplus of EUR20.00 billion) as exports fell 1.2% month-over-month (expected -0.5%; previous 2.6%) and imports declined 3.4% month-over-month (consensus -1.0%; last 3.8%)
Swiss November Unemployment Rate held at 3.4%, as expected

------

UK's FTSE is lower by 0.1% with roughly half of its components trading in the red. Miners are among the weakest performers with Anglo American, Fresnillo, and Antofagasta down between 1.2% and 7.3%. On the upside, homebuilders Barratt Developments and Persimmon are both up near 0.7%.
Germany's DAX trades down 0.8% with heavyweights Adidas, Bayer, Deutsche Bank, and Merck showing losses between 1.1% and 3.4%. On the upside, shares of Volkswagen have surged 7.3% after the company said that about 36,000 of its vehicles have been involved in the emissions scandal, which is down from the early estimates of 800,000.
In France, the CAC has given up 1.0% amid losses in most of its components. Growth-sensitive Alstom, Saint Gobain, Schneider Electric, and ArcelorMittal lead the retreat with loses between 1.7% and 2.2%.

8:36 am: [BRIEFING.COM] S&P futures vs fair value: -4.70. Nasdaq futures vs fair value: -14.70.

U.S. equity futures remain near their recent levels with S&P 500 futures trading five points below fair value.

On the corporate front, Kinder Morgan (KMI 15.47, -0.25) has ticked up off its pre-market low, but the stock remains down 1.6% after the company announced its 2016 outlook, which included a call to cut the annual dividend to $0.50/share from $2.04/share, as the company struggles to reconcile the effects of lower oil prices.

On that note, oil has retreated from its pre-market high, but the energy component remains up 0.8% at $37.80/bbl. It is worth noting today's uptick comes after oil surrendered 4.9% over the past two days. The EIA is set to announce weekly crude inventories at 10:30 ET.

Treasuries continue to post moderate losses with the 10-yr yield up two basis points to 2.24%

7:57 am: [BRIEFING.COM] S&P futures vs fair value: -6.50. Nasdaq futures vs fair value: -19.20.

U.S. equity futures trade in the red amid cautious action overseas. The S&P 500 futures hover seven points below fair value after slipping from their highs around the start of the European session.

Treasuries hold modest losses with the 10-yr yield up two basis points at 2.24%.

Once again, today's session will be very quiet on the economic front. The weekly MBA Mortgage Index rose 1.2% to follow last week's 0.2% downtick while the October Wholesale Inventories report (Briefing.com consensus 0.1%) will be released at 10:00 ET.

In U.S. corporate news of note:

Costco (COST 163.09, -5.78): -3.4% after the retailer missed earnings and revenue estimates.
DuPont (DD 74.56, +7.96): +11.9% amid reports the company is considering a merger with Dow Chemical (DOW 55.00, +4.10).
Smith & Wesson (SWHC 20.00, -1.39): -6.5% despite beating estimates and raising its guidance above analyst estimates.
Lululemon (LULU 47.46, -4.70): -9.0% after below-consensus earnings and revenue guidance overshadowed a bottom-line beat.
Kinder Morgan (KMI 14.86, -0.86): -5.5% after the energy company announced its 2016 outlook which calls for an annualized dividend cut to $0.50/share from $2.04/share.

Reviewing overnight developments:

Asian markets ended mostly lower. Japan's Nikkei -1.0%, Hong Kong's Hang Seng -0.5%, and China's Shanghai Composite +0.1%.
In economic data:
China's November CPI 0.0% month-over-month (expected -0.1%; previous -0.3%); +1.5% year-over-year (consensus 1.4%; last 1.3%). Separately, November PPI -5.9% year-over-year, as expected (prior -5.9%)
Japan's October Core Machinery Orders +10.7% month-over-month (expected -1.5%; previous 7.5%); +10.3% year-over-year (consensus 1.4%; last -1.7%). Separately, M2 Money Stock +3.3% year-over-year (consensus 3.5%; prior 3.7%) and Machine Tool Orders -17.9% year-over-year (previous -22.9%)
Australia's October Home Loans -0.5% month-over-month (expected -1.0%; previous 2.0%) and December Westpac Consumer Sentiment -0.8% (prior 3.9%)
South Korea's December M2 Money Supply +9.0% (previous 9.2%)
In news:
Japan's Government Pension Investment Fund may be permitted to invest directly in stocks, according to press reports
In economic data:
China's November CPI 0.0% month-over-month (expected -0.1%; previous -0.3%); +1.5% year-over-year (consensus 1.4%; last 1.3%). Separately, November PPI -5.9% year-over-year, as expected (prior -5.9%)
Japan's October Core Machinery Orders +10.7% month-over-month (expected -1.5%; previous 7.5%); +10.3% year-over-year (consensus 1.4%; last -1.7%). Separately, M2 Money Stock +3.3% year-over-year (consensus 3.5%; prior 3.7%) and Machine Tool Orders -17.9% year-over-year (previous -22.9%)
Australia's October Home Loans -0.5% month-over-month (expected -1.0%; previous 2.0%) and December Westpac Consumer Sentiment -0.8% (prior 3.9%)
South Korea's December M2 Money Supply +9.0% (previous 9.2%)
China's November CPI 0.0% month-over-month (expected -0.1%; previous -0.3%); +1.5% year-over-year (consensus 1.4%; last 1.3%). Separately, November PPI -5.9% year-over-year, as expected (prior -5.9%)
Japan's October Core Machinery Orders +10.7% month-over-month (expected -1.5%; previous 7.5%); +10.3% year-over-year (consensus 1.4%; last -1.7%). Separately, M2 Money Stock +3.3% year-over-year (consensus 3.5%; prior 3.7%) and Machine Tool Orders -17.9% year-over-year (previous -22.9%)
Australia's October Home Loans -0.5% month-over-month (expected -1.0%; previous 2.0%) and December Westpac Consumer Sentiment -0.8% (prior 3.9%)
South Korea's December M2 Money Supply +9.0% (previous 9.2%)
In news:
Japan's Government Pension Investment Fund may be permitted to invest directly in stocks, according to press reports
Japan's Government Pension Investment Fund may be permitted to invest directly in stocks, according to press reports

Major European indices trade lower across the board. France's CAC -0.8%, Germany's DAX -0.4%, and UK's FTSE -0.2%. Elsewhere, Italy's MIB -0.4% and Spain's IBEX -1.0%
Economic data was limited:
Germany's October trade surplus expanded to EUR20.80 billion from EUR19.20 billion (expected surplus of EUR20.00 billion) as exports fell 1.2% month-over-month (expected -0.5%; previous 2.6%) and imports declined 3.4% month-over-month (consensus -1.0%; last 3.8%)
Swiss November Unemployment Rate held at 3.4%, as expected
Among news of note:
The euro has rallied about 0.4% against the dollar, climbing to 1.0939, which puts the pair near its best level from Thursday (1.0981)
Economic data was limited:
Germany's October trade surplus expanded to EUR20.80 billion from EUR19.20 billion (expected surplus of EUR20.00 billion) as exports fell 1.2% month-over-month (expected -0.5%; previous 2.6%) and imports declined 3.4% month-over-month (consensus -1.0%; last 3.8%)
Swiss November Unemployment Rate held at 3.4%, as expected
Germany's October trade surplus expanded to EUR20.80 billion from EUR19.20 billion (expected surplus of EUR20.00 billion) as exports fell 1.2% month-over-month (expected -0.5%; previous 2.6%) and imports declined 3.4% month-over-month (consensus -1.0%; last 3.8%)
Swiss November Unemployment Rate held at 3.4%, as expected
Among news of note:
The euro has rallied about 0.4% against the dollar, climbing to 1.0939, which puts the pair near its best level from Thursday (1.0981)
The euro has rallied about 0.4% against the dollar, climbing to 1.0939, which puts the pair near its best level from Thursday (1.0981)

5:45 am: [BRIEFING.COM] S&P futures vs fair value: -7.30. Nasdaq futures vs fair value: -20.80.

5:45 am: [BRIEFING.COM] Nikkei...19301.07...-191.50...-1.00%. Hang Seng...21803.76...-101.40...-0.50%.

5:45 am: [BRIEFING.COM] FTSE...6125.39...-9.80...-0.20%. DAX...10614.73...-58.90...-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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