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 Post subject: December 14th Monday Trade Results - Profit $11000.00
PostPosted: Tue Dec 15, 2015 6:21 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 @ $11000.00 dollars or +220.00 points, Light Crude Oil CL ($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 @ $11000.00 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=2242

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.

-----------------------------

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 began the trading week on a higher note, but not before showing some late morning volatility. The S&P 500 climbed 0.5% after briefly dipping below the 2,000 mark while the Nasdaq Composite (+0.4%) underperformed slightly.

Equity indices slumped out of the gate with cyclical sectors fueling the early weakness. That selling was congruent with a retreat in the oil market, but a reversal in crude futures helped halt the slide in equities. The stock market spent the afternoon near its flat line, rallying to a fresh high during the final 15 minutes of the session.

Crude oil was in focus throughout the day as the energy component probed the $34.60/bbl area in overnight action before rallying to end the day higher by 2.0% at $36.34/bbl. The late morning reversal underpinned the energy sector (+0.8%), which rebounded from last week's 6.6% dive.

The energy sector climbed into the green with relative ease, but the same could not be said for most of the remaining cyclical groups. The technology sector (+0.6%) was an exception as the top-weighted group climbed ahead of the broader market during the afternoon after showing relative weakness at the start. That early weakness could be traced back to the shares of Apple (AAPL 112.48, -0.70) as the tech giant struggled after Morgan Stanley lowered its iPhone sales forecast. Apple settled lower by 0.6% after being down more than 2.0% in the early going.

The uptick in the tech sector masked relative weakness among high-beta chipmakers. Accordingly, the PHLX Semiconductor Index settled lower by 0.7% with most of its components ending in the red.

Staying on the high-beta theme, transport stocks also struggled while biotechnology benefited from the late afternoon strength. The Dow Jones Transportation Average surrendered 0.5%, widening its December loss to 7.6%, while the iShares Nasdaq Biotechnology ETF (IBB 320.84, +0.95) gained 0.3%.

On the corporate front, Jarden (JAH 54.09, +1.41) spiked 2.7% after agreeing to be acquired by Newell Rubbermaid (NWL 42.15, -3.13) for $60/share in cash and stock.

The oil-driven rebound off late morning lows masked continued weakness in the corporate bond space. High-yield remained weak with iShares iBoxx $ High Yield Corporate ETF (HYG 78.83, -0.69) falling 0.9%, while investment grade debt also faced some pressure, evidenced by a 0.7% decline in iShares Investment Grade Corp Bond ETF (LQD 114.35, -0.85).

Treasuries retreated throughout the day, ending on their lows with the 10-yr yield rising ten basis points to 2.23%.

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

Tomorrow, November CPI (Briefing.com consensus 0.0%) and December Empire Manufacturing Index (expected -5.9) will be reported at 8:30 ET while December NAHB Housing Market Index (consensus 63) will cross the wires at 10:00 ET.

Nasdaq Composite +4.6% YTD
S&P 500 -1.8% YTD
Dow Jones Industrial Average -2.6% YTD
Russell 2000 -7.4% YTD

3:10 pm: [BRIEFING.COM]

The dollar index trended higher overnight, but was unable to hold those gains (made against both Yen and Euro) as early/mid-AM extended selling pressure drove the index down to near 97.3. Resistance at that level was enough to allow a moderate rally to develop in afternoon trade, which saw the index climb back to near-flat going into commodity closes.
Precious metals traded down overnight, before seeing a modest tailwind throughout the session to close moderately lower. Sentiment ahead of Wednesday's FOMC rate hike decision drove both metals' trading today, with gold closing -1.2% to $1063.40/oz and silver finishing -1.4% to $13.70/oz.
Crude was pressed below the $35/barrel point in early trade on large volume amidst commentary from the Iranian Deputy Oil Minister- who indicated that supply agreements have been established for when sanctions get lifted in early January.
Commentary from Russian Acting Minister of Finance Anton Siluanov- which indicated the country is preparing for for further oil price declines in 2016- also put temporal pressure on prices.
As the session progress however, WTI reversed trend and lifted back above the flat-line- to a positive close of +2% to $36.34/barrel.
Natural gas traded in muted fashion at strong losses, as calls for increased warmer near-term US weather patterns drove the January contract to close -5% at $1.89/MMBtu
Copper closed the session -0.5% lower at $2.11/lb

3:00 pm:

[BRIEFING.COM] Entering the last hour of trading, the major averages begin to advance again towards their afternoon highs. The Nasdaq (UNCH) continues to lag behind the S&P 500 (+0.1%).

Currently only materials (-1.6%), financials (-0.2%), and industrials (-0.1%) are posting losses on the day while the six other sectors are either posting a gain or flirting with positive territory.

On the upside, the top-weighted technology sector is now higher by 0.3% after showing relative weakness at the start.

In Treasuries, the 10-yr note moves to its lowest point of the day with its yield at 2.23% (+10bps).

2:30 pm:

[BRIEFING.COM] The major indices are once again moving up to their flat lines with the Nasdaq (-0.2%) narrowing the gap between itself and the S&P 500 (-0.1%).

Four of the ten sectors are now showing gains on the day with the larger weighted sectors like information technology (UNCH) and health care (UNCH) no longer working to anchor the composites.

On a related note, information technology (+0.1%) is now posting modest gains as the sector continue to climb off its morning lows. The sector is following the same path as large-cap component Apple (AAPL 112.40, -0.78) which has substantially narrowed its early morning loss. Also helping move the technology space is Facebook (FB 103.65, +1.53) as the stock outperforms and climbs back above its 50 day moving average.

2:00 pm:

[BRIEFING.COM] As afternoon trading continues, the major indices have halted their advance and have begun to retrace their path lower. The S&P 500(-0.2%) continues to outperform the tech-heavy Nasdaq (-0.3%) by a step.

Four of ten sectors are now showing gains on the day with energy (0.3%) slipping back underneath the telecommunications space (+0.5%). It is important to note that the energy space is the only cyclical sector to maintain advances on the day. In large part this is due to crude oils resurgence, +1.6% on the day, and a rebound after falling 4.0% over the past week.

In Treasuries, the 10-yr note remains near its low with its yield at 2.22% (+9bps).

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to bounce around in afternoon trading as investors waver ahead of this week's closely watched Fed decision.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 89.08, +2.64), Exxon Mobil (XOM 75.93, +1.59), and Microsoft (MSFT 54.63, +0.57) are outperforming. Chevron was upgraded to Sector Outperform at Scotia Howard Weil while Exxon Mobil is simply benefiting from broad strength in the energy space as crude oil rebounds from recent weakness which pushed the commodity to fresh multi-year lows.

Conversely, DuPont (DD 67.79, -2.65) is the worst-performing Dow component as shares remain volatile while investors continue to digest the pending $130 bln merger with Dow Chemical. Helping fuel the downside pressure, shares were downgraded this morning at Jefferies.

Sitting marginally in positive territory, the DJIA has trimmed its December losses to 2.5%
Related Quotes

12:55 pm:

[BRIEFING.COM] The major averages hover near their flat lines at midday after climbing off their late morning lows. The Dow Jones Industrial Average has paced the turnaround, trading higher by 0.1%, while the S&P 500 (+0.1%) and Nasdaq (-0.2%) follow.

Equities faced some selling pressure at the start with cyclical sectors fueling the early weakness. That selling was congruent with a retreat in the oil market, but a reversal in crude has helped halt the slide in equities. At this juncture, WTI crude is higher by 2.8% at $36.60/bbl after dipping below $34.60/bbl earlier. Accordingly, the energy sector (+0.8%) has benefitted from the turn, which puts the growth-sensitive group ahead of its peers.

Similar to energy, the technology sector (-0.2%) contributed to the opening weakness, but unlike energy, the top-weighted sector remains among the laggards at this time. Shares of Apple (AAPL 111.17, -2.01) are largely responsible for the underperformance as the stock trades lower by 1.8% after Morgan Stanley lowered its iPhone sales forecast.

Elsewhere, the industrial sector (-0.2%) has spent the first half behind the broader market with transport stocks showing relative weakness. The Dow Jones Transportation Average is lower by 0.9% today, widening its December loss to 7.9%.

Last week, the news of Third Avenue Management liquidating its high-yield Focused Credit Fund turned everyone's attention to the junk bond arena where iShares iBoxx $ High Yield Corporate ETF (HYG 78.47, -1.05) has slid to a four-year low. The high-yield ETF has taken another step back today, trading lower by 1.3% at this juncture.

Company-specific news has been relegated to the backburner today, but it is worth noting that Jarden (JAH 52.86, +0.18) has climbed 0.3% after agreeing to be acquired by Newell Rubbermaid (NWL 40.29, -4.99) for $60/share in cash and stock.

Strikingly, Treasuries have spent the day in a retreat and they sit on their lows at this time with the benchmark yield up nine basis points at 2.22%.

12:30 pm:

[BRIEFING.COM] The major indices have moved off of their lows of the day and are moving towards positive territory. The Nasdaq has narrowed its loss to 0.2% with the S&P 500 outperforming (-0.1%). The Dow Jones Industrial Average (+0.1%) is currently the only index in the green.

The recent oil rebound has pushed the energy sector (+0.1%) up the leaderboard. The cyclical sector sits only behind the telecommunications services space (+0.6%). In energy, large-cap components Exxon Mobil (XOM 75.75, +1.41) and Chevron (CVX 88.69, +2.25) are up 1.9% and 2.6% respectively. WTI crude is up to $36.45/bbl, a 2.3% increase on the day.

In Treasuries, the yield on the benchmark note continues to rising to 2.20% (7bps).

11:55 am:

[BRIEFING.COM] Equity indices have slipped to new session lows with the Nasdaq down 1.0% while the S&P 500 (-0.6%) outperforms slight; however, that slight relative strength is a small victory considering nine of ten sectors remain in negative territory with six showing losses of 0.8% or more.

Interestingly, the market has maintained its downward direction despite a rebound in crude oil that has the energy component trading higher by 1.3% at $36.05/bbl. Meanwhile, the energy sector has inched up off its low, but the cyclical group remains lower by 0.8%.

The selling pressure that kicked in shortly after the opening bell has been far reaching with more than 5.5 NYSE-listed issues trading in the red for each advancer.

Strikingly, Treasuries have spent the day in the red, sliding to new lows not long ago. As a result, the benchmark yield is higher by five basis points at 2.18%.

11:30 am:

[BRIEFING.COM] The major averages remain pressured with the S&P 500 trading lower by 0.6%.

Selling pressure remains relatively heavy as three of the top-weighted sectors underperform the broader market: technology (-0.8%), industrials (-0.8%), and energy ( -0.8%).

In the technology sector, Apple (AAPL 110.75, -2.43) is still experiencing fallout after Morgan Stanley lowered iPhone sales estimates. The stock has given up 2.1%. Also of note, Qualcomm (QCOM 46.07, -1.39) is down 2.8% following news that it is considering splitting the company between its two chief industries: chip technology and licensing.

10:55 am:

[BRIEFING.COM] The tech-heavy Nasdaq (-0.4%) currently leads the losses while the Dow Jones Industrial (-0.3%) and the S&P 500 (-0.3%) keep pace with one another. This cautious trading comes before Wednesday's Federal Reserve meeting where it is anticipated that the fed funds rate will be increased for the first time since 2006.

All ten sectors are currently in the red. The materials sector (-1.9%) continues to show the sharpest losses on the day. On that note, large cap component DuPont (DD 67.51, -2.93) is down 4.1% after continuing selling pressure exists after its recent highs. The stock has continued backtracking after the recent announcement of its merger with Dow Chemical (DOW 51.21, -2.16).

On the commodity side, oil has rebounded from its session low to positive territory. WTI crude is currently trading at $35.85/bbl (+0.3%).

In Treasuries, the volatile action from the stock market has not caused increased buying pressure. The yield on the benchmark 10-yr note is up six basis points to 2.19%.

10:20 am: [BRIEFING.COM]

The dollar index trended moderately higher overnight, seeing gains against both the Yen and Euro while investors look ahead to Wednesday's FOMC rate decision
The Yen was weak despite a positive BOJ business confidence indicator, which helped bolster strength ahead of a meeting where most market participants expect a hike.
In early trade however the index came under selling pressure and slumped back to just below flat where it currently trades: now -0.1% to 97.51
WTI saw heavy selling in early trade- catching almost very little/no support from the weakening dollar- driven by recent trading momentum (6 straight past down-sessions) and commentary out of Iran's Deputy Oil Minister Zamaninia.
Zamaninia indicated that ahead of the lifting of sanctions (scheduled for the first week of Jan.), the nation has secured customers for its planned production increase.
Crude briefly broke the $34.60/barrel level earlier, but has since seen a bounce/lift back to recoup a good portion of its prior losses- now trading down 0.5% to $35.44/barrel
Natural gas has gotten crushed all session, holding steady losses far below the unchanged mark as weather forecasts are now calling for even warmer near-term weather in several parts of the US. The January contract is now -6.1% to $1.87/MMBtu
Metals are all trading at moderate losses, with gold and silver both recovering from early losses-driven by dollar strength. Copper is seeing modest losses despite positive data out of China: which saw in-line fixed asset investment for Nov. of +10.2% and stronger-than-expected Nov. industrial production of +6.2% (vs. 5.6% est.)
Gold is now -0.7% to $1068.70/oz, silver is -0.8% to $13.78/oz and copper is -0.3% to $2.11/lb

10:00 am:

[BRIEFING.COM] All the major indices are trading near their flat lines with the S&P 500 (+0.2) continuing to lead the Nasdaq (+0.1%) and the Dow jones Industrial Average (UNCH).

The consumer staples sector (0.7%) remains on the top of the leaderboard with consumer discretionary following. On the flipside, materials (-1.0%) is showing the steepest losses followed by energy (-0.6%).

On a related note, is WTI crude is trimming its overnight losses to 0.6% at $35.38/bbl.

9:50 am:

[BRIEFING.COM] The major averages displayed modest gains at the start, but they have returned to unchanged amid losses in six of ten sectors. The S&P 500 is higher by 0.1% with commodity-related materials (-1.2%) and energy (-0.9%) showing early weakness.

Both cyclical sectors have retreated amid continued weakness in commodities. To that point, crude oil is lower by 1.3% at $35.11/bbl while copper futures have surrendered 0.4% to $2.11/lbs.

In addition, the top-weighted technology sector (-0.5%) also lags with Apple (AAPL 110.83, -2.36) down 2.1% after Morgan Stanley lowered the iPhone sales forecast for the company.

Treasuries have slid to new lows, pushing the 10-yr yield up to 2.18% (+6 bps).

9:16 am: [BRIEFING.COM] S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: +5.10.

The stock market is on track for a flat open as S&P 500 futures trade one point above fair value after climbing off their early morning lows.

Overnight, most Asian markets struggled, but China's Shanghai Composite (+2.5%) bucked the trend thanks to some better than expected economic data that included November Retail Sales (+11.2% year-over-year; consensus 11.1%; previous 11.0%), November Industrial Production (+6.2% year-over-year; expected 5.6%; last 5.6%), and November Fixed Asset Investment (+10.2% year-over-year; consensus 10.1%; prior 10.2%).

Unlike Chinese equities, markets across Europe have struggled while crude oil has faced a continuation of last week's selling pressure. The energy component has bounced off its low, but remains down 1.2% at $35.18/bbl after dipping below $34.60/bbl earlier.

Investors did not receive any economic data today while corporate news has been limited. On the M&A front, Jarden (JAH 53.85, +1.17) has spiked 2.2% in pre-market after agreeing to be acquired by Newell Rubbermaid (NWL 41.80, -3.48) for $60/share in cash and stock.

Treasuries have retreated, pushing the 10-yr yield higher by four basis points to 2.17%.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +10.10.

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

Equity markets across Asia saw broad-based losses at the start of the Monday session, but an intraday turnaround helped a handful of indices end the day in positive territory. Japan's Nikkei (-1.8%) struggled from the start and even though the index climbed off its low, it could not avoid settling at its lowest level since early November. Elsewhere, China's Shanghai Composite (+2.5%) erased its slim loss by midday and continued the advance into the afternoon following some better than expected economic data. On a separate note, the chairman of Fosun, who had been missing since Thursday, was reportedly back at his home over the weekend.

In economic data:
China's November Retail Sales +11.2% year-over-year (consensus 11.1%; previous 11.0%), November Industrial Production +6.2% year-over-year (expected 5.6%; last 5.6%), and November Fixed Asset Investment +10.2% year-over-year (consensus 10.1%; prior 10.2%)
Japan's Q4 Tankan Large Manufacturers Index held at 12 (expected 11) and Q4 Large Non-Manufacturers Index held at 25 (consensus 23). Separately, Q4 Tankan All Big Industry CAPEX 10.8% (expected 10.2%; previous 10.9%) and October Industrial Production +1.4%, as expected
India's November CPI +5.41% year-over-year (consensus 5.40%; previous 5.00%), WPI Inflation -1.99% (expected -2.80%; prior -3.81%), and WPI Food +5.20% year-over-year (previous +2.44%)

---Equity Markets---

Japan's Nikkei spent the day in a slow advance off its early low, but still lost 1.8%. Industrials (-2.5%), consumer discretionary (-1.9%), and technology (-2.3%) sectors paced the retreat with Hitachi Construction, Mitsumi Electric, Daikin Industries, and OKUMA falling between 3.7% and 4.5%.
Hong Kong's Hang Seng narrowed its loss to 0.7% by the close, settling at its lowest level since early October. Selling pressure was far-reaching with consumer, casino, and energy names pacing the slide. Belle International sank 6.6% while Galaxy Entertainment, CNOOC, Sands China, and China Petroleum & Chemical fell between 1.1% and 2.4%. On the flip side, insurers outperformed with China Life Insurance and Ping An Insurance climbing 1.8% and 0.6%, respectively. Also of note, Baoxin Auto Group surged 20.5% after selling a $1 billion stake in the company.
China's Shanghai Composite rallied 2.5% on the back of better than expected economic data. Financials and brokerage names contributed to the strength with CITIC Securities, Agricultural Bank of China, Industrial Securities, and Pacific Securities soaring between 1.6% and 10.0%.

European markets have begun the trading week on a cautious note with most indices trading below their flat lines at this juncture. UK's FTSE (+0.4%) has shown some relative strength while Germany's DAX (-1.1%) underperforms. Select mining shares have contributed to the outperformance in the UK as stocks with South African exposure advance after Pravin Gordhan was named the country's third finance minister in just one week. Overall, though, European investors are on hold ahead of this week's policy meeting at the Federal Reserve, which is widely-expected to result in a fed funds rate hike. The euro has retreated about ten pips against the dollar, slipping to 1.0980.

Economic data was limited:
Eurozone October Industrial Production +0.6% month-over-month (expected 0.3%; previous -0.3%); +1.9% year-over-year (consensus 1.3%; last 1.3%)
Italy's November CPI -0.4% month-over-month, as expected; +0.1% year-over-year, as expected

---Equity Markets---

Germany's DAX is lower by 1.1%, slipping to late October levels. Just about every component trades in the red at this time with Fresenius, RWE, K+S, and Deutsche Telekom leading the slide, showing losses between 1.3% and 1.8%. Financials Commerzbank and Deutsche Bank are down 0.4% and 0.7%, respectively, while Continental outperforms, trading right on its flat line.
France's CAC has given up 0.1% amid losses in growth-sensitive names. ArcelorMittal is the weakest component, down 4.1%, while Peugeot, Renault, Michelin, and Total have surrendered between 1.0% and 1.9%. Financials trade in mixed fashion with respect to the market with Societe Generale down 0.3% and BNP Paribas lower by 0.7%.
UK's FTSE outperforms, trading higher by 0.4%. As mentioned earlier, Anglo American (+1.3%) has benefitted from news out of South Africa, but peers BHP Billiton and Randgold Resources show respective losses of 1.9% and 1.4%. Elsewhere, financials are mixed with Old Mutual spiking 7.1% while Standard Chartered has given up 2.0%.

8:27 am: [BRIEFING.COM] S&P futures vs fair value: -5.90. Nasdaq futures vs fair value: -10.20.

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

In commodities, oil has continued its slide, trading lower by 2.5% this morning at $34.72/bbl.

Meanwhile, Treasuries show modest losses, up three basis points to 2.16% after hitting 2.18% overnight.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: -5.90. Nasdaq futures vs fair value: -10.20.

U.S. equity futures trade near their pre-market lows amid mixed action overseas. The S&P 500 futures trade six points below fair value after sliding into negative territory from their highs overnight. The overnight retreat in equity futures has not resulted in a large move to Treasuries, the yield on the 10-yr is up two basis points to 2.15%.

In U.S. Corporate News:

GoPro (GPRO 18.28, -0.87) -4.5% after being downgraded by Morgan Stanley to Underweight.
Trina Solar Limited (10.52, +0.97) +10.1% after receiving a non-binding proposal letter to have outstanding shares acquired by the Chairman and CEO of the company



Reviewing overnight developments:

Asian markets ended their sessions on mixed notes despite all of the major indices ending their session's off of their lows. Japan's Nikkei (-1.8%), Hong Kong's Hang Seng (-0.7%), China's Shanghai Composite (+2.5%).
In economic data:
China's November Retail Sales +11.2% year-over-year (consensus 11.1%; previous 11.0%), November Industrial Production +6.2% year-over-year (expected 5.6%; last 5.6%), and November Fixed Asset Investment +10.2% year-over-year (consensus 10.1%; prior 10.2%)
Japan's Q4 Tankan Large Manufacturers Index held at 12 (expected 11) and Q4 Large Non-Manufacturers Index held at 25 (consensus 23). Separately, Q4 Tankan All Big Industry CAPEX 10.8% (expected 10.2%; previous 10.9%) and October Industrial Production +1.4%, as expected
India's November CPI +5.41% year-over-year (consensus 5.40%; previous 5.00%), WPI Inflation -1.99% (expected -2.80%; prior -3.81%), and WPI Food +5.20% year-over-year (previous +2.44%)
In news:
The chairman of Fosun, who had been missing since Thursday, was reportedly back at his home over the weekend
Major European indices trade lower across the board. Germany's DAX -0.8%, France's CAC -0.4%, and UK's FTSE -0.1%. Elsewhere, Italy's MIB -0.6% and Spain's IBEX -0.7%
In Economic data:
Eurozone October Industrial Production +0.6% month-over-month (expected 0.3%; previous -0.3%); +1.9% year-over-year (consensus 1.3%; last 1.3%)
Italy's November CPI -0.4% month-over-month, as expected; +0.1% year-over-year, as expected
Among news of note:
Select mining shares have contributed to the outperformance in the UK as stocks with South African exposure advance after Pravin Gordhan was named the country's third finance minister in just one week

5:44 am: [BRIEFING.COM] S&P futures vs fair value: +9.60. Nasdaq futures vs fair value: +30.60.

5:44 am: [BRIEFING.COM] Nikkei...18883.42...-347.10...-1.80%. Hang Seng...21309.85...-154.20...-0.70%.

5:44 am: [BRIEFING.COM] FTSE...5987.10...+34.30...+0.60%. DAX...10377.30...+37.20...+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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