TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 5:17 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: December 17th Thursday Trade Results - Profit $9707.50
PostPosted: Thu Dec 17, 2015 10:02 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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)

Attachment:
121715-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+9707.50.png
121715-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+9707.50.png [ 92.7 KiB | Viewed 454 times ]

click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $2520.00 dollars or +25.20 points, Emini ES ($ES_F) futures @ $7187.50 dollars or +143.75 points, Light Crude Oil CL ($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 @ $9707.50 dollars

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

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=150&t=2245

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.

Attachment:
121715-Key-Price-Action-Markets.png
121715-Key-Price-Action-Markets.png [ 1.54 MiB | Viewed 384 times ]

click on the above image to view today's price action of key markets


4:10 pm: [BRIEFING.COM] The stock market stumbled on Thursday, erasing its entire post-Fed advance. The S&P 500 lost 1.5%, falling below its 50- and 200-day moving averages (2,062), while the Nasdaq Composite (-1.4%) settled just a step ahead.

Equity indices held slim gains at the open after the overnight session saw a broad rally in Japan (+1.6%), France (+1.1%), and Germany (+2.6%); however, that bullish sentiment faded in a flash, pulling stocks lower through the first two hours of the session. The key indices ranged near their morning lows into the late afternoon, hitting new lows into the close.

The Thursday retreat was not a huge surprise considering a higher fed funds rate will translate into increased borrowing costs. Furthermore, the resulting dollar strength is expected to be a negative for U.S.-based companies that conduct a large portion of their activities overseas.

Fittingly, the greenback was on the rise today, climbing 0.7% against the euro (1.0808) while the yen (122.50) resisted some of the pressure, but still slid 0.4% against the dollar. As a result, the Dollar Index (99.23, +0.65) gained 0.7%, returning into the neighborhood of this year's high (100.51).

Today's dollar strength did no favors to crude oil as the energy component fell 1.7% to $34.95/bbl. The settlement price masked the fact that oil was down more than 2.8%, marking a session low ($34.64/bbl) just above its worst level from Monday ($34.53/bbl). Accordingly, the energy sector (-2.5%) paced today's retreat.

However, energy was not the only weak spot as every other cyclical sector settled behind the broader market. The top-weighted technology space (-1.6%) had to contend with relative weakness in Apple (AAPL 108.98, -2.36) as the largest stock by market cap fell 2.1% and returned into the neighborhood of yesterday's session low. Meanwhile, another large tech component-Oracle (ORCL 36.93, -1.98)-surrendered 5.1% after the company's sluggish revenue growth overshadowed a bottom-line beat.

Staying on the earnings front, FedEx (FDX 151.84, +3.01) spiked 2.0% after reporting better than expected earnings and reaffirming its guidance. It is worth noting that the company voiced some concern about the domestic economy, lowering its 2015 GDP growth forecast to 2.4% from 2.5%. FedEx represented a bright spot in the Dow Jones Transportation Average (-2.0%), but heavy losses in other index components caused the bellwether complex to widen its December loss to 7.0%.

Things looked a bit better on the countercyclical side where consumer staples (-1.3%), telecom services (-1.0%), and health care (-1.1%) registered slimmer losses than the broader market while the utilities sector (+0.1%) outperformed thanks to lower yields.

Interestingly, Treasuries spent the day in the green, hitting their highs just ahead of the close. The 10-yr note ended near its best level of the session, sending the benchmark yield lower by six basis points to 2.24%. Investors will keep a close watch on the bond market going forward, considering prolonged strength in Treasuries would be indicative of bond traders doubting the Fed's ability to continue raising rates.

Today's participation was above average as more than 920 million shares changed hands at the NYSE floor.

Economic data included Initial Claims, Philadelphia Fed Survey, Current Account balance, and Leading Indicators:

Weekly Initial claims declined by 11,000 to 271,000 (Briefing.com consensus 276,000), remaining bounded in the 250,000 to 300,000 range where they have been since July 2014
Continuing claims for the week ending December 5 decreased by 7,000 to 2.238 million (Briefing.com consensus 2.211 million)
The Philadelphia Fed's Manufacturing Index slipped back into negative territory in December with a reading of -5.9 (Briefing.com consensus 2.0) versus 1.9 in November. A number below zero denotes contraction
This was the third negative reading in the diffusion index for current activity in the last four months, reflecting weaker manufacturing conditions in the region
The diffusion index for future general activity is still positive, yet it showed a huge drop from 43.4 in November to 23.0 in December, representing the lowest reading since November 2012
The current account deficit for the third quarter totaled $124.10 billion while the Briefing.com consensus expected the deficit to hit $114.20 billion
The second quarter deficit was revised to $111.10 billion from $109.70 billion
The Conference Board's Leading Economic Index (LEI) increased 0.4% in November on top of an unrevised 0.6% increase in October (Briefing.com consensus +0.1%)
The difference between the expected number and the actual number can be traced back directly to the contribution from building permits, considering they were much stronger than expected in November, running at a seasonally adjusted annual rate of 1.289 million versus the Briefing.com consensus estimate of 1.150 million

Investors will not receive any economic data tomorrow.

Nasdaq Composite +5.6% YTD
S&P 500 -0.8% YTD
Dow Jones Industrial Average -1.8% YTD
Russell 2000 -5.4% YTD

3:35 pm: [BRIEFING.COM]

The dollar traded at gains all session following yesterday's FOMC rate hike, extending overnight gains in late afternoon trade and putting pressure on the metals complex.
Notably, the morning release of US unemployment data (lower initial claims than expected at 271K vs. 276K est, and relatively weak continuing claims) gave peripheral support to the index's direction, and the dollar is now +0.9% to 99.29
Crude traded modestly negative early this session (on momentum from a larger than expected EIA build yesterday), but saw more focused selling pressure as the day progressed. February WTI closed just above its LoD at -1.3% to $36.29/barrel.
Precious metals sold-off heavily on the dollar's strength, seeing no significant relief from open to close. Gold closed -2.5% to $1049.50/oz and silver finished -3.8% to $13.70/oz
Natural gas closed at strong losses of -1.7% to $1.76/MMBtu, following a smaller than expected build in inventories (at 34 bcf vs. 42 bcf est. via the EIA).
Copper closed at -1.9% to $2.04/lb

3:00 pm:

[BRIEFING.COM] As the stock market enters its last hour of trading, the major averages sit above their daily lows, but remain steadily lower on the session. The Nasdaq (-0.9%) is slightly outperforming the Dow Jones Industrial Average (-1.0%) and the S&P 500 (-1.1%).

Looking beneath the surface, the countercyclical sectors continue to show the slimmest losses on the day with the utilities sector (+0.6%) in positive territory. On the other side of the leaderboard, energy (-2.0%), materials (-1.4%), and financials (-1.3%) are showing the largest declines.

In commodities, WTI crude remains off its session low with oil trading at $34.89/bbl, losing 1.8% today.Similarly, gold has seen a sharp decline after yesterday's increased interest following the Fed's rate decision. The commodity has lost 2.4% and falls to $1050.80/ozt, on the trading day. In Treasuries, the 10-yr note is ending the day near its high with benchmark yield sliding six basis points to 2.24%.

2:30 pm:

[BRIEFING.COM] The major indices linger just above their lows with the tech-heavy Nasdaq (-0.6%) leading the S&P 500 (-0.8%).

In sectors, the utilities space (+0.6%) holds a strong gain and remains the only group trading in the green. This is due to the continued strength in Treasuries. The yield on the benchmark note has been pushed lower to 2.23% (+6bps).

On the flipside, the financial sector (-1.0%) continues to underperform the broader market's decline. The group is feeling a sharper pullback from yesterday's post Fed announcement and its subsequent rally. Large-cap constituents Chase (JPM 66.60, -0.93), Bank of America (BAC 17.47, -0.28), and Citigroup (53.12, -0.77) outpace the losses of both the broader market and sector with respective declines of 1.3%, 1.6%, and 1.3%.

2:00 pm:

[BRIEFING.COM] As afternoon trading continues, the major indices are hovering just above their session lows with the Nasdaq (-0.6%) maintaining a narrow lead over the S&P 500 (-0.8%).

Energy (-1.6%) still leads the downside but has been able to trim its loss from this afternoon's lows. Meanwhile, materials (-1.1%), financials (-1.0%), and consumer discretionary (-0.9%) have been able to follow suit. Elsewhere, the technology sector (-0.8%) has been able to maintain its position in the middle of the leaderboard largely thanks to the performance of Facebook (FB107.25, +0.43), Microsoft (MSFT 56.30, +0.17) and Alphabet (GOOG, 757.02, -1.07) as all three trade ahead of the sector.

In Treasuries, the benchmark note remains just off its high with yield falling five basis points to 2.25%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to bounce around in negative territory following this morning's economic data. The weakness has erased a large portion of yesterday's rally after the Fed finally agreed to raise interest rates.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 65.93, -1.79), Merck & Co (MRK 52.94, -1.08), and Wal-Mart (WMT 59.24, -1.06) are underperforming.

Conversely, UnitedHealth Group (120.16, +1.33) is the leading Dow component as healthcare providers outperform.

As stocks drag in the red today, the DJIA is currently up 2% this week and down 0.6% for the month.
Related Quotes

1:00 pm:

[BRIEFING.COM] The stock market trades in the red at midday with the S&P 500 down 1.2% while the Dow (-1.0%) and Nasdaq Composite (-0.9%) outperform slightly.

Equity indices began the trading day on an upbeat note following an overnight bullish charge; however, the sentiment turned on a dime once U.S. investors joined the fray. The S&P 500 opened just above its flat line, spending the first two hours of action in a steady retreat. The index has retraced its post-Fed gain, sliding below its 50- and 200-day moving averages (2,062) in the process.

Today's reversal has been paced by the energy sector (-2.1%), but other groups have not done that much better as investors come to grips with the implications of yesterday's rate hike from the Fed. Accordingly, five of six cyclical sectors trade behind the broader market while the industrial sector (-1.0%) sits just ahead thanks to a 3.2% spike in the shares of FedEx (FDX 153.60, +4.77) after the logistics company reported better than expected earnings and reaffirmed its guidance. The relative strength in FedEx has helped the Dow Jones Transportation Average (-0.7%) stay ahead of the broader market, but it is worth noting that FedEx has lowered its 2016 growth outlook for the U.S. to 2.4% from 2.5%.

Unlike industrials, the energy sector (-2.1%) has spent the day behind its peers due to aggressive selling in the oil market where WTI crude is lower by 1.9% at $34.85/bbl, which puts the energy component in the neighborhood of its low from Monday.

Elsewhere among cyclical sectors, financials (-1.4%) lag while the top-weighted technology sector has kept pace with the broader market. The in-line drop has masked a 5.5% dive in the shares of Oracle (ORCL 36.77, -2.14) after the company's sluggish revenue growth overshadowed a bottom-line beat.

On the upside, the utilities sector (+0.1%) holds a slim loss thanks to somewhat surprising strength in the Treasury market. The 10-yr note hovers near its best level of the session with its yield down five basis points at 2.25% as bond traders pile into the security despite yesterday's fed funds target rate hike.

Economic data included Initial Claims, Philadelphia Fed Survey, Current Account balance, and Leading Indicators:

Weekly Initial claims declined by 11,000 to 271,000 (Briefing.com consensus 276,000), remaining bounded in the 250,000 to 300,000 range where they have been since July 2014
Continuing claims for the week ending December 5 decreased by 7,000 to 2.238 million (Briefing.com consensus 2.211 million)
The Philadelphia Fed's Manufacturing Index slipped back into negative territory in December with a reading of -5.9 (Briefing.com consensus 2.0) versus 1.9 in November. A number below zero denotes contraction
This was the third negative reading in the diffusion index for current activity in the last four months, reflecting weaker manufacturing conditions in the region
The diffusion index for future general activity is still positive, yet it showed a huge drop from 43.4 in November to 23.0 in December, representing the lowest reading since November 2012
The current account deficit for the third quarter totaled $124.10 billion while the Briefing.com consensus expected the deficit to hit $114.20 billion
The second quarter deficit was revised to $111.10 billion from $109.70 billion
The Conference Board's Leading Economic Index (LEI) increased 0.4% in November on top of an unrevised 0.6% increase in October (Briefing.com consensus +0.1%)
The difference between the expected number and the actual number can be traced back directly to the contribution from building permits, considering they were much stronger than expected in November, running at a seasonally adjusted annual rate of 1.289 million versus the Briefing.com consensus estimate of 1.150 million

12:30 pm:

[BRIEFING.COM] At this juncture, the tech-heavy Nasdaq (-0.7%) slightly outperforms the S&P 500 (-0.9%), but both indices remain well below their flat lines.

Interesting to note, while the industrial sector is currently trading lower by 0.8%, the Dow Jones Transportation Average manages to keep its loss restrained to 0.4%. This is largely thanks to the strong performance from large cap component FedEx (FDX 153.38, +4.55). The stock has been trading higher after the company beat on top and bottom lines while reaffirming guidance for 2016.

12:00 pm:

[BRIEFING.COM] As afternoon trading begins, the major indices all remain near their session lows. The S&P 500 (-0.8%) is slightly underperforming the Nasdaq (-0.6%) and the Dow Jones Industrial Average (-0.7%).

Interesting to note, with today's session the S&P 500 has dipped back below both its 50- and 200-day moving averages (2062). In sectors, all ten groups linger in the red. On a week-to-date basis, though, only the materials sector (-1.0%) is in negative territory, showing a loss of 0.9% since last Friday.

In currencies, the U.S. Dollar Index has powered to a new session high, showing continued strength following the Fed's announcement to raise the fed funds rate. The index has advanced to 99.22 up 0.7% today.

11:35 am:

[BRIEFING.COM] The major indices are continuing their retreat. The S&P 500 is lower by 1.2% while the Nasdaq (-1.0%) remains a bit ahead.

While the energy sector (-2.0%) continues to lead the losses, it is important to note that heavily-weighted sectors like technology (-1.3%), financials (-1.3%), consumer discretionary (-1.3%), and industrials (-2.0%) continue to underperform the broader market. This indicates selling pressure is relatively heavy at this time.

In corporate news, Oracle (ORCL 37.08, -1.82) has contributed to the weakness in the technology sector after the company reported a beat in bottom line earnings, but showed weakness in its cloud division and revenue growth. Since the earnings release the company's price target has been decreased from $48/share to $46 at the Royal Bank of Canada. Shares of ORCL are down 4.7% this morning.

11:00 am:

[BRIEFING.COM] The major indices are continuing to slide lower with the Nasdaq (-0.7%) slightly outperforming the S&P 500 (-0.9%).

Yesterday's broad rally was a bit surprising considering a higher federal funds rate will increase borrowing costs for the broader market. With that in mind, today's retreat should not come as a shock to participants. The energy sector (-1.9%) has paced the retreat with crude oil contributing to the pressure in the growth-sensitive sector. Currently, WTI crude continues to retreat, struggling to hold its ground just beneath the $35/bbl level. So far today, oil is down 1.9%. Including today's performance, the energy sector is down 10.0% since the start of December.

In Treasuries, the benchmark note remains near its high with its yield lower by five basis points at 2.25%.

10:35 am: [BRIEFING.COM]

The dollar has traded higher all session, following the FOMC's decision to increase the Fed Funds target rate.
The index saw an extended move higher on better-than expected Initial Claims figures (271K vs. a 276K est) and a slightly light Continuing Claims number (2.24 mln vs. 2.21 mln). The index saw little reaction to a negative Philadelphia Fed (Manufacturing) Index reading- -5.9 vs. a 2.0 consensus.
The dollar is now holding solid gains near its HoD at +0.6% to 99.01
Precious metals trended at strong losses overnight-following the dollar's move- and have recently broken down below their recent range to trade near LoDs.
Gold is now -2.1% to $1054/oz and silver is -3.5% to $13.76/oz
WTI evaded dollar-driven selling overnight, but saw quick dip to losses in early trade- amidst headlines focusing on yesterday's EIA-reported 4.8 mln inventory build
Trendless, volatile trading has dominated the February contract in recent trade, and the commodity now stands at moderate losses of -1.2% to $/barrel
Natural gas saw moderate gains overnight and a small rally going into the morning's EIA inventory data, expected to show a draw of 41 bcf
Upon release of the data, which showed a 34 bcf build, nat gas fell sharply lower and is now -0.1% to $1.79/MMBtu
Copper is holding losses at -1.4% to $2.04/lb

10:00 am:

[BRIEFING.COM] All the major indices continue to trade beneath their opening highs as the Nasdaq (+0.1%) continues to lead the S&P 500 (-0.2%).

Eight of ten sectors are showing weakness with only technology (UNCH) and industrials (UNCH) maintaining their flat lines. Energy (-0.7%) and materials (-0.5%) rounding out the leaderboard.

Just released, the CB Leading Indicators report for November was up 0.4% (Briefing.com consensus 0.1%).

9:45 am:

[BRIEFING.COM] The major indices showed brief opening gains before dipping into negative territory. The Nasdaq (+0.1%) currently outperforms the Dow Jones Industrial Average (UNCH) and the S&P 500 (-0.1%).

Only three of ten sectors are trading slightly higher with telecommunications (+0.3%) at the top of the leaderboard.

On the commodities front, WTI crude was not able to keep up the rally from late pre-market trading. Oil has slipped to $35.34/bbl, down 0.5% so far today.

In Treasuries, the benchmark note is trading near its high with the yield on the 10-yr note lower three basis points to 2.26%.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +24.30.

The stock market is on track for a higher open with S&P 500 futures trading six points above fair value. Index futures held slim losses during the early portion of the overnight session, but they began rallying alongside European markets. Futures hit their highs around 6:30 ET and they have inched away from those levels in recent action.

Yesterday's fed funds target rate hike has given a boost to the greenback, sending the Dollar Index (98.93, +0.35) higher by 0.4%. The dollar has added about 0.4% against the euro (1.0844) while the yen has essentially held its ground (122.50).

Interestingly, Treasuries have held gains throughout the night and the 10-yr note remains near its high with the benchmark yield down four basis points at 2.26%.

Investors received some economic data this morning, which showed that weekly initial claims declined to 271,000 from 282,000 (Briefing.com consensus 276,000). Meanwhile, the Philadelphia Fed Survey fell to -5.9 from 1.9 (Briefing.com consensus 2.0) due to weakness in new and unfilled orders.

On the corporate front, FedEx (FDX 157.60, +8.77) is on track to open higher by 5.9% after beating bottom-line estimates and reaffirming its guidance; however, the company has lowered its global growth outlook. In the technology sector, Oracle (ORCL 38.65, -0.26) has given up 0.7% in pre-market after beating earnings estimates and guiding in line with analyst estimates.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +21.30.

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

Markets across Asia ended the Thursday session on a broadly higher note. Japan's Nikkei spiked 1.6%, benefiting from yesterday's yen weakness that sent the dollar/yen pair into the 122.50 area. Meanwhile, markets in China also had a strong showing with the Shanghai Composite surging 1.8%. Investors did not receive any economic data from the Mainland, but the Chinese Academy of Social Sciences released its 2016 growth forecast, calling for GDP growth of 6.6-6.8% while CPI is expected to hit 2.1%. Furthermore, CASS said that any disruptions from the fed funds rate hike is likely to be limited.

In economic data:
Japan's November trade balance JPY0.00 trillion (expected deficit of JPY210 billion; previous deficit of JPY170 billion). Imports fell 10.2% year-over-year (expected -8.3%; last -13.4%) and exports decreased 3.3% (consensus -1.5%; last -2.2%)
Hong Kong's November Unemployment rate held at 3.3%, as expected
New Zealand's Q3 GDP +0.9% quarter-over-quarter (expected 0.8%; previous 0.3%); +2.3% year-over-year (consensus 2.3%; last 2.4%)
Singapore's trade surplus SGD6.56 billion (previous surplus of SGD7.92 billion)

---Equity Markets---

Japan's Nikkei spiked 1.6%, returning to levels from the middle of last week. Every sector ended the day in the green with leadership from health care (+2.8%), utilities (+2.5%), and consumer staples (+2.5%). Kansai Electric Power, Keisei Electric Railway, Yamato Holdings, and Sumitomo Metal Mining ended atop the leaderboard with gains between 3.9% and 5.1%. On the flip side, a handful of names struggled with Toshiba, Pioneer, Mitsubishi Heavy Industries, and TDK falling between 0.6% and 4.1%.
Hong Kong's Hang Seng advanced 0.8% with financials contributing to the higher close. Bank of East Asia, HSBC Holdings, Hang Seng Bank, and Bank of China ended in the lead with gains between 1.8% and 3.8%. On the downside, select consumer and energy names kept the index behind its regional peers. CNOOC and PetroChina lost close to 2.0% apiece while Li & Fung surrendered 0.8%.
China's Shanghai Composite gained 1.8% with brokerages and financial names fueling the rally. CITIC Securities, Agricultural Bank of China, Poly Real Estate Group, and Everbright gained between 0.7% and 2.4%.

Equity indices across Europe sport solid midday gains with Germany's DAX (+3.3%) pacing the region-wide rally. The early portion of the session has been relatively quiet in terms of news. European Central Bank member Jens Weidmann commented on monetary policy, saying no additional easing is needed at this time and that low inflation in Europe is mostly due to oil prices. Elsewhere, the Swiss KOF Institute released its winter economic forecast, calling for 2015 GDP growth of 0.7% (down from 0.9%) and 1.1% growth in 2016 (down from 1.4%).

In economic data:
Germany's Ifo Business Climate Index 108.7 (expected 109.0; previous 109.0) as Business Expectations held at 104.7 (expected 105.0) while Current Assessment slipped to 112.8 from 113.4 (expected 113.4)
UK's November Retail Sales +1.7% month-over-month (expected 0.5%; previous -0.5%); +5.0% year-over-year (consensus 3.0%; last 4.2%). Core Retail Sales +1.7% month-over-month (expected 0.6%; last -0.8%); +3.9% year-over-year (consensus 2.3%; last 3.2%)
Italy's October trade surplus EUR4.81 billion (expected EUR2.87 billion; previous EUR2.19 billion)

---Equity Markets---

Germany's DAX has returned to early December levels, spiking 3.2%. Every index component has added at least 1.0% with utilities and exporters among the leaders. E.On and RWE hold respective gains of 5.8% and 4.1% while BMW, Daimler, and Volkswagen have climbed between 3.9% and 4.2%. Also of note, Commerzbank has surged 3.9% amid news Julius Baer has agreed to buy Commerzbank's Luxembourg unit.
France's CAC has spiked 2.3% amid broad support. Renault trades up 3.9% while financials AXA, Societe Generale, BNP Paribas, and Credit Agricole sport gains between 2.4% and 3.4%. Consumer names are a bit scattered with Kering (+3.2%) and Accor (+3.8%) trading ahead of the broader market while Carrefour (+2.0%) and Pernod Ricard (+2.1%) trail the broader market.
UK's FTSE trades up 1.3% with more than 90% of its components in the green. Financials lead with Standard Chartered and Old Mutual up 7.9% and 6.6%, respectively. Elsewhere, AstraZeneca has spiked 1.4% after announcing plans to buy a 55% stake in Acerta Pharma for $4 billion. On the downside, homebuilders lag with Barratt Developments and Taylor Wimpey both down near 1.0%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +19.80.

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

The latest weekly initial jobless claims count totaled 271,000 while the Briefing.com consensus expected a reading of 276,000. Today's tally was below the unrevised prior week count of 282,000. As for continuing claims, they fell to 2.238 million from 2.245 million.

Separately, the Philadelphia Fed Survey for November fell to -5.9 from 1.9 while economists polled by Briefing.com had expected an increase to 2.0.

Also of note, the current account deficit for the third quarter totaled $124.10 billion while the Briefing.com consensus expected the deficit to hit $114.20 billion. The second quarter deficit was revised to $111.10 billion from $109.70 billion

8:00 am:

[BRIEFING.COM] U.S. equity futures trade near their pre-market highs with the S&P 500 futures currently four points above fair value.

In Treasuries, the benchmark note currently site near its overnight highs with the yield on the 10-yr note lower by five basis points at 2.25%.

On the economic front, weekly Initial Claims (Briefing.com consensus 276,000) December Philadelphia Fed Survey (Briefing.com consensus 2.0) and Q3 Current Account Balance (Briefing.com consensus deficit of $114.20 billion) will be reported at 8:30 ET. November Leading Indicators will cross the wires at 10:00 ET.

In U.S. Corporate News of Note:

Pandora (P 15.85, +2.41): +17.9% following Axiom Capital raising their price target on the company from $14/share to $17/share citing rising EBITDA estimate over the next five years
KalosBios Pharmaceutical (KBIO 11.75, -11.84): -50.2% following a Bloomberg report that CEO of Turing Pharmaceuticals, Martin Shkreli, was arrested for securities fraud.
U.S. Steel (X 7.97, -0.34): -4.1% following a downgrade to sell by Deutsche Bank
Micron Technology (MU 14.64, +0.57): +4.5% after the company was upgraded to an Over-Weight designation from Equal-Weight at Morgan Stanley.
Oracle (ORCL 38.75, -.016): -0.4% after beating bottom line estimates and guiding in line
Fedex (FDX 157.45, +8.62): +5.8% after the company beat bottom line estimates and reaffirmed its guidance

Reviewing overnight developments:

Asian markets ended trading higher across the board with Shanghai's Composite +1.8%, Japan's Nikkei +1.6%, and Hong Kong's Hang Seng +0.8%

In economic data:
Japan's November trade balance JPY0.00 trillion (expected deficit of JPY210 billion; previous deficit of JPY170 billion). Imports fell 10.2% year-over-year (expected -8.3%; last -13.4%) and exports decreased 3.3% (consensus -1.5%; last -2.2%)
Hong Kong's November Unemployment rate held at 3.3%, as expected
New Zealand's Q3 GDP +0.9% quarter-over-quarter (expected 0.8%; previous 0.3%); +2.3% year-over-year (consensus 2.3%; last 2.4%)
Singapore's trade surplus SGD6.56 billion (previous surplus of SGD7.92 billion)
In news:
The Chinese Academy of Social Sciences released its 2016 growth forecast, calling for GDP growth of 6.6-6.8% with CPI is expected to hit 2.1%

European indices are all posting solid gains with Germany's DAX +3.3%, France's CAC +2.4%, and UK's FTSE +1.6%.

In economic data:
Germany's Ifo Business Climate Index 108.7 (expected 109.0; previous 109.0) as Business Expectations held at 104.7 (expected 105.0) while Current Assessment slipped to 112.8 from 113.4 (expected 113.4)
UK's November Retail Sales +1.7% month-over-month (expected 0.5%; previous -0.5%); +5.0% year-over-year (consensus 3.0%; last 4.2%). Core Retail Sales +1.7% month-over-month (expected 0.6%; last -0.8%); +3.9% year-over-year (consensus 2.3%; last 3.2%)
Italy's October trade surplus EUR4.81 billion (expected EUR2.87 billion; previous EUR2.19 billion)
In news:
European Central Bank member Jens Weidmann commented on monetary policy, saying no additional easing is needed at this time.
Swiss KOF Institute released its winter economic forecast, calling for 2015 GDP growth of 0.7% (down from 0.9%) and 1.1% growth in 2016 (down from 1.4%).

6:00 am: [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +20.50.

6:00 am: [BRIEFING.COM] Nikkei...19353.56...+303.70...+1.60%. Hang Seng...21872.06...+170.90...+0.80%.

6:00 am: [BRIEFING.COM] FTSE...6144.42...+83.20...+1.40%. DAX...10775.12...+305.90...+2.90%.

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


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr