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 Post subject: December 15th Tuesday Trade Results - Loss $1375.00
PostPosted: Wed Dec 16, 2015 12:30 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 @ ($1375.00) dollars or -27.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Loss @ ($1375.00) 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=2243

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


4:10 pm: [BRIEFING.COM] The stock market enjoyed a broad-based rally on Tuesday, which lifted the S&P 500 (+1.1%) back above its 100-day moving average (2,030). The benchmark index extended this week's gain to 1.5% ahead of tomorrow's FOMC announcement, which is widely expected to call for the first fed funds rate hike since 2006.

Overnight, the early portion of the Asian session was highlighted by some caution among investors, but the overall sentiment began improving once the attention shifted to Europe. Accordingly, markets in France (+3.2%), Germany (+3.1%), and the UK (+2.5%) soared amid broad support.

Contributing to the upbeat sentiment was a rally in crude oil as the energy component climbed despite greenback strength that sent the Dollar Index (98.22, +0.62) higher by 0.6%. As for oil, WTI crude surged 2.7% to $37.32/bbl, taking the energy sector (+2.9%) along for the ride.

The growth-sensitive energy sector settled atop the leaderboard, but despite today's surge, the sector is still down 7.8% for the month. Similarly, the financial sector (+2.4%) was also at the forefront of today's advance after showing relative weakness as of late. The economically-sensitive group narrowed its December loss to 2.0% versus a 1.8% month-to-date decline for the S&P 500. Recent concerns about the high-yield bond space were masked by a 1.6% spike in iShares iBoxx $ High Yield Corporate ETF (HYG 80.12, +1.29), which returned to its range from Friday.

Staying on the cyclical side, the top-weighted technology sector (+0.4%) settled behind the broader market as Apple (AAPL 110.49, -1.99) slid 1.8% to extend yesterday's retreat. However, the relative weakness in the top tech component was partially offset by gains among semiconductor names. The PHLX Semiconductor Index rose 1.5% with Qualcomm (QCOM 48.02, +1.19) surging 2.5% after the company boosted its guidance and announced plans to maintain its organizational structure.

Elsewhere, the industrial sector (+0.1%) could not keep pace with the market after 3M (MMM 148.13, -9.50) lowered its guidance. The Dow component settled lower by 6.0% while another sector member-Deere (DE 77.24, -1.70)-slumped 2.2% after peer AGCO (AGCO 46.04, -3.38) cut its earnings and revenue outlook.

Today's rally in stocks was met with selling interest in the Treasury market. The 10-yr note settled near its session low, pushing the benchmark yield to 2.27% (+5 bps).

Investor participation was ahead of average as more than 940 million shares changed hands at the NYSE floor.

Economic data included CPI, Empire Manufacturing, and NAHB Housing Market Index:

The Consumer Price Index was unchanged in November (Briefing.com consensus 0.0%) while core CPI increased 0.2% in November (consensus +0.2%)
On a year-over-year basis, total CPI is up 0.5%, representing the highest level since December 2014
On a year-over-year basis, core CPI is up 2.0%, representing the highest level since May 2014
The Empire Manufacturing Survey for December improved to -4.7 from -10.7 reported in November while the Briefing.com consensus expected a reading of -5.9
The NAHB Housing Market Index slipped to 61 from 62 while the consensus expected an improvement to 63

Tomorrow, weekly MBA Mortgage Index will be reported at 7:00 ET while November Building Permits (Briefing.com consensus 1.15 million) and Housing Starts (consensus 1.135 million) will be reported at 8:30 ET. The November Industrial Production report (consensus 77.5%) will cross the wires at 9:15 ET and the latest policy decision from the Federal Open Market Committee will be released at 14:00 ET (consensus 0.5%).

Nasdaq Composite +5.5% YTD
S&P 500 -0.8% YTD
Dow Jones Industrial Average -1.7% YTD
Russell 2000 -6.0% YTD

3:30 pm: [BRIEFING.COM]

The dollar saw broad strength all session, a reversal from the negative overnight trend-driven by in-line US economic data ahead of tomorrow's FOMC meeting.
The index traded up to its HoD going into the commodity closes- with notable pressure being put on gold and copper. The dollar is now +0.6% to 98.31
Crude lifted the flat-line going into the open of pit trading, and saw a set of modest rallies (in the early-am and mid-day) that pressed the January contract to gains for the session. Sentiment ahead of tonight's API data, tomorrow's EIA inventory report and headlines surrounding the end of a US oil export ban were prime drivers this session.
The January contract closed +2.7% to $37.32/barrel- near its HoD.
Natural gas trended moderately lower in early price action, but saw progressively heavier selling as the session wore on- closing at strong losses for the day.
Unchanged near-term forecasts calling for warm national weather trends consumed market sentiment, as Nat gas closed -3.7% to $1.82/MMBtu
Gold and copper were both driven to losses by strength in the dollar, while silver stood more robust, closing green for the session.
Gold finished -0.2% to $1061.50/oz, copper at -2.4% to $2.06/lb and silver +0.5% to $13.77/oz

2:55 pm:

[BRIEFING.COM] As the market enters the last hour of trading, the major indices remain near their highs. The S&P 500 (+1.4%) continues to lead the Nasdaq (+1.3%).

Seven of ten sectors currently underperform the broader market, but all ten sectors continue to show gains on the day.

Cyclical energy (+3.0%) and financials (+2.8%) remain at the top of the leaderboard. In commodities, WTI crude continues to slip from its afternoon highs, but still remains up 2.7% on the day at $37.29/bbl.

Meanwhile in Treasuries, the benchmark note remains near its lows with the yield on the 10-yr at 2.27% (+5bps).

2:25 pm:

[BRIEFING.COM] The major indices have moved slightly closer to their afternoon highs. The S&P 500 (+1.5%) continues to lead with the tech-heavy Nasdaq (+1.4%) following.

Interesting to note, the heavily-weighted technology sector (+1.1%) remains square in the middle of the leaderboard. While large-cap component Apple (AAPL 111.72, -0.76) is still down 0.6% on the day, it is not the only large-cap constituent working to anchor the sector's performance. Similarly, Alphabet (GOOGL 763.98, +1.44) Microsoft (MSFT 55.56, +0.43), and Facebook (FB, 105.51, +0.85) continue to underperform the broader market with gains of 0.4%, 0.9%, and 0.8%, respectively.

1:55 pm:

[BRIEFING.COM] As afternoon trading continues the major indices remain slightly below their afternoon highs. The S&P 500 (+1.3%) is narrowly ahead of the Nasdaq (+1.3%).

Energy (+2.5%) and financials (+2.4%) continue to outperform the market with the industrials sector (+0.2%) remaining at the bottom. Nine of ten sectors have moved into positive territory on the week. The materials sector is still showing a loss of 0.7% week to date.

WTI crude continues to trade near its afternoon high with oil currently trading at $37.46/bbl.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to support strong gains in afternoon trading ahead of tomorrow's closely watched Fed decision.

A look inside the Dow Jones Industrial Averages shows that Exxon Mobil (XOM 79.10,+3.07), Chevron (CVX 92.80, +3.47), and Walt Disney (DIS 113.15, +3.80) are outperforming. Disney is trading higher ahead of this week's much anticipated Star Wars release, as well as being helped after the signing of a licensing deal with Alibaba. Elsewhere, Chevron and Exxon Mobil are leading the Dow as the energy sector continues to rally amid strength with WTI crude oil.

Conversely, 3M (MMM 149.07, -8.56) is the worst-performing Dow component after lowering its FY15 guidance and offering light FY16 guidance.

With today's surge, the DJIA has limited its December losses to 0.85%

12:55 pm:

[BRIEFING.COM] The major averages hover near their highs at midday with the S&P 500 trading up 1.5% thanks to gains in all ten sectors.

The benchmark index rallied out of the gate, spiking above its 100-day moving average (2,029) at the start. The S&P 500 hit a morning high during the opening hour and has recently marked a new session best after spending the morning in a ten-point range just below its high.
Related Quotes

The early advance followed a rebound in crude, which has continued into the early afternoon. The energy component is currently higher by 3.6% at $37.63/bbl. The sharp gain in WTI crude has underpinned the energy sector (+3.2%), which sits well ahead of its peers. The growth-sensitive group is now up 4.0% for the week, but remains lower by 7.5% since the end of November.

Interestingly, oil has been able to extend its rally even though intraday greenback strength has sent the Dollar Index (98.18, +0.58) higher by 0.6%.

Similar to energy, the financial sector (+2.3%) has been at the forefront of today's advance. The economically-sensitive group has benefitted from a moderate let up in the high-yield bond space. The iShares iBoxx $ High Yield Corporate ETF (HYG 80.28, +1.65) is higher by 1.8% today, but despite the advance, the junk bond ETF remains near a four-year low.

Elsewhere among cyclical sectors, most groups show gains of at least 1.0% while the industrial sector (+0.4%) has failed to keep pace with the broader market due to a 5.3% dive in the shares of 3M (MMM 149.24, -8.39) after the Dow component lowered its guidance.

In other corporate news of note, Qualcomm (QCOM 48.67, +1.84) has concluded its strategic review, electing not to split the company into two separate entities. In addition, the company has boosted its guidance, sending the shares higher by 3.9%. Other semiconductor names have also seen relative strength with the PHLX Semiconductor Index trading higher by 1.8%.

Treasuries have spent the day in the red, but they have inched off their lows. As a result, the benchmark index is higher by four basis points at 2.26% after hitting 2.28% earlier.

Economic data included CPI, Empire Manufacturing, and NAHB Housing Market Index:

The Consumer Price Index was unchanged in November (Briefing.com consensus 0.0%) while core CPI increased 0.2% in November (consensus +0.2%)
On a year-over-year basis, total CPI is up 0.5%, representing the highest level since December 2014
On a year-over-year basis, core CPI is up 2.0%, representing the highest level since May 2014
The Empire Manufacturing Survey for December improved to -4.7 from -10.7 reported in November while the Briefing.com consensus expected a reading of -5.9
The NAHB Housing Market Index slipped to 61 from 62 while the consensus expected an improvement to 63

12:30 pm:

[BRIEFING.COM] Equity indices continue ranging near their best levels of the day with the S&P 500 trading higher by 1.2%.

The key indices lurched higher at the start of today's session and they have held their ground through the first half. All ten sectors trade in the green with energy (+2.5%), financials (+2.0%), and health care (+1.5%) holding the lead.

Even though the energy sector has spiked nearly 3.0% today, the growth-sensitive group remains down 8.1% for the month. Given this month's sharp decline, the sector is on track to end the year lower by 21.9% while the second-weakest group of the year (utilities) has surrendered 11.0%.

11:55 am:

[BRIEFING.COM] All the major indices continue to trade near their session highs with the Dow Jones Industrial Average (+0.9%) and the S&P 500 (+0.9%) slightly leading the Nasdaq (+0.8%).

Including today's trading, the S&P 500 is posting a loss of 1.9% for the month of December and the Nasdaq is posting a loss of 2.3% over that period.

In terms of the monthly leaderboard, eight of ten sectors remain in the red with only consumer staples (+1.2%) health care (+0.5%), and telecommunications (+0.1%) advancing in December. On the flipside, energy (-8.1%), materials (-4.8%), and industrials (-3.4%) are showing the heaviest losses.

11:30 am:

[BRIEFING.COM] As late morning trading winds down, the indices remain near their highs with the S&P 500 trading higher by 1.1%.

Energy (+2.3%) still sits atop the leaderboard followed by the financial sector (+2.0%). Broadly speaking, though, sector standing remains little changed.

On a separate note, the Dollar Index has continued its rally over the course of the morning, and is now up 0.6% at 98.18.

In Treasuries, the 10-yr note remains just above its low with the benchmark yield up four basis points at 2.27%.

11:00 am:

[BRIEFING.COM] Stocks have slipped from their session highs, but continue to hold solid gains. The S&P 500 (+1.3%) is slightly ahead of the tech-heavy Nasdaq (+1.2%) as the two jockey for position.

All ten sectors continue to show gains on the day with the industrials sector (+0.2%) trailing the pack. The sector is being weighed down by the poor performance of large cap component 3M (MMM 150.53, -7.10) which has fallen 4.5% after the company revised earnings guidance for full year 2015, moving EPS from $7.65 to $7.55 and organic growth from 1.5-2.0% down to 1.0%.

On the flipside, financials (+2.0%) remain at the top of the leaderboard just behind energy (+2.4%) as both sectors rebound from recent weakness. Concerns about high-yield debt have eased a bit with iShares IBoxx $ High Yield Corporate ETF (HYG 80.05, +1.22) trading higher by 1.6% so far today.

Elsewhere, in commodities, WTI crude slipped from its highs but has been able to maintain its ground, trading up 1.8% to $36.97/bbl.

10:25 am: [BRIEFING.COM]

The dollar index caught a solid lift in early trade ahead of the morning's US economic data, following a relatively weak overnight session.
November US CPI and Core CPI figures were in-line with expectations, reported at flat and +0.2% respectively.
December Empire Manufacturing came in slightly better than expected at -4.6 vs. a -5.9 consensus
Following the release of data, the index continued to jog higher and is now booking gains near its HoD at +0.3% to 98.00
WTI saw a strong rally in early trade, bouncing from 11 year lows made yesterday, before coming under moderate selling pressure before the pit open.
Catalysts have been vague so far this session, with media reports being focused largely on sentiment toward lifting the US export ban and Chinese oil reserve purchases.
Following the open of pit trading, the January contract sprinted higher and now challenging its daily highs at +1.1% to $38.58/barrel
Natural gas is extending yesterday's large losses, with no changes being made to recent bearish near-term weather forecasts. January nat gas is now -2.9% to $1.84/MMBtu
Precious metals have traded in a low volume, moderate horizontal trend so far this morning, as investors await for a directional cue from tomorrow's FOMC rate hike decision
Gold is now -0.1% to $1062.10/oz and silver is +0.4% to $13.76/oz. Copper is -2.6% to $2.06/lb

10:00 am:

[BRIEFING.COM] The major indices continue to trade near their highs as the S&P 500 (+1.3%) and Nasdaq (+1.3%) pace one another.

Just released, the NAHB Housing Market Index for December fell to 61 from an unrevised 62 while the Briefing.com consensus expected the reading to come in at 63.0.

9:45 am:

[BRIEFING.COM] The major indices have all opened in the green with the S&P 500 trading higher by 1.2%.

All ten sectors have opened in positive territory with energy (+2.5%) and the financial sector (+1.6%) topping the leaderboard. Oil continues to be the story of the week with WTI crude up 2.4% thus far, surpassing the $37.00/bbl price level.

Treasuries have ticked up off their lows, but they remain in the red with the 10-yr yield up six basis points at 2.28%.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +17.60. Nasdaq futures vs fair value: +44.00.

The stock market is on track for a higher open with S&P 500 futures trading 18 points above fair value after climbing off their lows at the start of the European session.

Overnight, equity markets in Japan (-1.7%) and Hong Kong (-0.2%) struggled, but many other regional indices posted gains. Investor sentiment continued improving into the European session, evidenced by solid gains in France (+2.1%), Germany (+2.4%), and the UK (+1.7%).

The rally in Europe has been accompanied by an advance in crude oil futures, but unlike European equities, oil has struggled to hold its ground. To that point, WTI crude is higher by 1.1% at $36.73/bbl after making a brief appearance just north of the $37.00/bbl level, which was followed by a short-lived slide into the red.

The price action in the oil market is sure to remain in focus today as investors gear up for tomorrow's FOMC announcement, which is widely expected to call for the first fed funds rate hike since June 2006.

On the economic front, the November CPI report showed no change on a month-over-month basis, which was expected; however, on a year-over-year basis, CPI is up 0.5%, which is the highest reading since December 2014.

In corporate news, semiconductor names are likely to see early strength with Qualcomm (QCOM 47.60, +0.77) on track to open higher by 1.6% after raising its guidance.

Treasuries hover on their lows with the 10-yr yield up five basis points at 2.27%.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +19.50. Nasdaq futures vs fair value: +42.90.

The S&P 500 futures trade 20 points above fair value.

Markets in the Asia-Pacific region ended Tuesday on a mixed note. Japan's Nikkei (-1.7%) spent the day in a steady retreat, erasing the entirety of its rebound off Monday's session low. Meanwhile, indices in Hong Kong (-0.2%) and China (-0.3%) posted slimmer losses. Elsewhere, Thailand's SET spiked 2.6%, registering its largest advance since late August. Regional newsflow was relatively light, but it is worth noting that the New Zealand Treasury has cut its GDP forecast for fiscal year 2015/2016 to +2.2% from +2.9%. Similarly, Australia has lowered its fiscal-year 2015/2016 growth forecast to 2.5% from 2.75%. Separately, the latest meeting minutes from the Reserve Bank of Australia showed that the central bank expects a gradual strengthening in economic growth.

Economic data was limited:
Australia's Q3 House Price Index +2.0% quarter-over-quarter, as expected (previous 4.7%)
New Zealand's Budget Balance -NZD5.40 billion (previous -NZD4.17 billion)
Singapore's October Retail Sales +1.0% month-over-month (expected 1.7%; previous -4.0%); +2.7% year-over-year (expected 2.6%; last 4.3%). Separately, Q3 Unemployment Rate held at 2.0%, as expected
South Korea's November trade balance KRW10.30 billion (expected KRW10.40 billion; previous KRW10.40 billion)

---Equity Markets---

Japan's Nikkei lost 1.7%, ending at its lowest level since late October. Every sector ended the day in negative territory, paced by materials (-2.5%), industrials (-2.1%), financials (-1.7%), and consumer discretionary (-1.6%). As for individual issues, TDK, Fukuoka Financial, Pioneer, Nissan Motor, and Japan Steel Works lost between 3.2% and 4.0%. On the flip side, nine names posted gains with Unitika spiking 1.8% and Konami rising 0.8%.
Hong Kong's Hang Seng shed 0.2% to register its ninth consecutive decline. The index settled in the top third of its range from Monday with consumer and gaming names struggling for the second consecutive day. The likes of Belle International, Sands China, Galaxy Entertainment, Li & Fung, and China Resources Beer Holdings fell between 1.2% and 3.9%. On the upside, energy names rebounded with CNOOC and PetroChina climbing 1.0% and 0.8%, respectively.
China's Shanghai Composite slipped 0.3% with securities brokers seeing increased interest. CITIC Securities lost 3.8% while Pacific Securities, Founder Securities, and Industrial Securities surrendered between 2.2% and 3.4%.

Major European indices trade higher across the board thanks to a rebound that began taking shape shortly after today's opening bell. A rally in crude oil has contributed to the upbeat sentiment as the energy component climbed back into the $37.00/bbl area after showing volatility yesterday. The ongoing rebound has helped regional indices erase their losses from Monday. The euro, meanwhile, is little changed against the dollar (1.1001). On the central bank front, Sweden's Riksbank kept its key interest rate and purchasing program unchanged at -0.35% and SEK200 billion despite some calls to push the rate further into negative territory.

In economic data:
Eurozone Q3 Employment Change +0.3% quarter-over-quarter (expected 0.2%; previous 0.4%) and ZEW Economic Sentiment 33.9 (expected 34.4; previous 28.3)
Germany's December ZEW Economic Sentiment 16.1 (expected 15.0; previous 10.4) and ZEW Current Conditions 55.0 (consensus 54.2; previous 54.4)
UK's House Price Index +7.0% year-over-year (consensus 6.4%; previous 6.1%) and November Input PPI -1.6% month-over-month (expected -1.1%; previous 0.2%). Separately, November CPI 0.0% month-over-month (expected -0.1%; previous 0.1%); +0.1% year-over-year, as expected (previous -0.1%). Also of note, Core CPI +1.2% year-over-year, as expected (previous 1.1%)
Spain's November CPI +0.4% month-over-month (expected 0.3%; previous 0.3%); -0.3% year-over-year, as expected (previous -0.3%)
Swiss November PPI +0.4% month-over-month (expected 0.1%; previous 0.2%); -5.5% year-over-year (consensus -6.1%; last -6.6%)

---Equity Markets---

UK's FTSE is higher by 1.8% amid gains in more than 90% of its components. Consumer staples lead with WM Morrison Supermarkets, J Sainsbury, and Tesco showing gains between 3.7% and 4.6%. Mining names trade in mixed fashion as Glencore soars 4.8% while Fresnillo and Randgold Resources trade with respective losses of 4.5% and 0.4%.
Germany's DAX has spiked 2.6%, returning to little changed for the week. All 30 index components trade in the green with 28 showing gains of 1.0% or more. Deutsche Post leads with a 4.7% spike while financials Commerzbank and Deutsche Bank hold respective gains of 3.8% and 2.9%. As for heavyweight exporters, Daimler, BMW, and Volkswagen are up between 2.2% and 2.9%.
In France, the CAC trades up 2.4% with all but two components in the green. Beaten down consumer and growth-sensitive names lead today's rally with steelmaker ArcelorMittal surging 5.5% while Louis Vuitton, Carrefour, and L'Oreal show gains between 1.9% and 4.4%. Financials also appear among the leaders with BNP Paribas and Societe Generale up 3.7% and 3.2%, respectively.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +10.50. Nasdaq futures vs fair value: +26.50.

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

Total CPI was flat at 0.0% (Briefing.com consensus 0.0%) in November while core CPI, which excludes food and energy, increased 0.2% (Briefing.com consensus +0.2%). On a year-over-year basis, total CPI is up 0.5% and core CPI is up 2.0%.

The Empire Manufacturing Survey for December registered a reading of -4.6, which was above the prior month's reading of -10.7 and above the Briefing.com consensus estimate, which was pegged at -5.9.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: +10.30. Nasdaq futures vs fair value: +25.80.

U.S. equity futures have slipped from their pre-market highs, but S&P 500 futures remain ten points above fair value.

Treasuries, were on the decline overnight pushing the yield higher on the benchmark note to 2.25% (+2bps).

On the economic front, November's CPI (Briefing.com consensus 0.0%) and December's Empire Manufacturing Index (expected -5.9) will be reported at 8:30 ET. At 10:00 ET December's NAHB Housing Market Index (consensus 63) will be released.

In U.S. corporate news of note:

Apple (AAPL 110.83, -1.65): -1.5% after the multiple sources reported that Samsung would be appealing a Supreme Court ruling regarding a patent dispute.
Lumber Liquidators (LL 17.91, +3.85): +27.4% off yesterday's after hours news that Whitney Tilson has covered his short position in the company.
3M Company (MMM 154.50, -3.13): -2.0% after the company provided revised guidance for FY15 (December). The company sees EPS near $7.55 vs. $7.65. Now expects 2015 full-year organic growth of approximately 1%, vs. 1.5-2%.
Amgen, Inc. (AMGN 162.30, +4.19): +2.7% after the company was upgraded at Morgan Stanley from Equal-Weight to Overweight.
Valeant Pharmaceuticals (VRX 96.49, +2.34): +2.5% on news that the company has entered into a distribution agreement with Walgreens

Reviewing overnight developments:

Asian markets ended lower across the board. Japan's Nikkei -1.7%, China's Shanghai composite -0.3%, and Hong Kong's Hang Seng -0.2%.

In economic data:

Australia's Q3 House Price Index +2.0% quarter-over-quarter, as expected (previous 4.7%) New Zealand's Budget Balance -NZD5.40 billion (previous -NZD4.17 billion)
Singapore's October Retail Sales +1.0% month-over-month (expected 1.7%; previous -4.0%); +2.7% year-over-year (expected 2.6%; last 4.3%). Separately, Q3 Unemployment Rate held at 2.0%, as expected
South Korea's November trade balance KRW10.30 billion (expected KRW10.40 billion; previous KRW10.40 billion)

In news:

New Zealand's Treasury cut its GDP forecast for the fiscal-year 2015-2016 to +2.2%
Australia lowered its fiscal year 2015-2016 growth forecast to 2.5% from 2.75%

Major European indices are all trading higher thanks in part to a continuation of yesterday's oil rally. Germany's DAX +2.3%, France's CAC +2.2%, and UK's FTSE +1.7%. Elsewhere, Italy's MIB +2.5% and Spain's IBEX +2.1%

In economic data:
Eurozone Q3 Employment Change +0.3% quarter-over-quarter (expected 0.2%; previous 0.4%) and ZEW Economic Sentiment 33.9 (expected 34.4; previous 28.3)
Germany's December ZEW Economic Sentiment 16.1 (expected 15.0; previous 10.4) and ZEW Current Conditions 55.0 (consensus 54.2; previous 54.4)
UK's House Price Index +7.0% year-over-year (consensus 6.4%; previous 6.1%) and November Input PPI -1.6% month-over-month (expected -1.1%; previous 0.2%). Separately, November CPI 0.0% month-over-month (expected -0.1%; previous 0.1%); +0.1% year-over-year, as expected (previous -0.1%). Also of note, Core CPI +1.2% year-over-year, as expected (previous 1.1%)
Spain's November CPI +0.4% month-over-month (expected 0.3%; previous 0.3%); -0.3% year-over-year, as expected (previous -0.3%)
Swiss November PPI +0.4% month-over-month (expected 0.1%; previous 0.2%); -5.5% year-over-year (consensus -6.1%; last -6.6%)

5:53 am: [BRIEFING.COM] S&P futures vs fair value: +10.50. Nasdaq futures vs fair value: +26.00.

5:53 am: [BRIEFING.COM] Nikkei...18565.90...-317.50...-1.70%. Hang Seng...21274.37...-35.50...-0.20%.

5:53 am: [BRIEFING.COM] FTSE...5968.44...+94.40...+1.60%. DAX...10327.66...+188.30...+1.90%.

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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