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 8:00 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: December 21st Monday Trade Results - Profit $5375.00
PostPosted: Tue Dec 22, 2015 2:26 am 
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:
122115-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+5375.00.png
122115-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+5375.00.png [ 94.27 KiB | Viewed 359 times ]

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 @ $5375.00 dollars or +107.50 points, Light Crude Oil CL ($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 Profit @ $5375.00 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=2247

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:
122115-Key-Price-Action-Markets.png
122115-Key-Price-Action-Markets.png [ 1.17 MiB | Viewed 363 times ]

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


4:10 pm: [BRIEFING.COM] The stock market began the trading week a higher note thanks to a final-hour rally that lifted the market back to its opening high. The S&P 500 added 0.8% while the Nasdaq Composite (+0.9%) outperformed slightly.

Overnight, Asian markets had a mixed showing with China's Shanghai Composite (+1.8%) outpacing other regional indices thanks to stimulus hopes. Meanwhile, European indices flashed solid intraday gains, but they slid into the close with Spain's IBEX diving 3.6% due to political uncertainty stemming from general elections that took place over the weekend. Mariano Rajoy's Partido Popular came out on top, receiving 123 votes, but forming a lasting coalition government may be a challenge considering the runner-up Socialist party has ruled out forming a joint government with PP. Spain's 10-yr note sold off in response, sending its yield higher by nine basis points to 1.79%.

Once the attention shifted to the U.S., equity indices spiked out of the gate, hitting their session highs during the opening hour of the trading day. All ten sectors took part in the rally, but the market ran into some resistance that coincided with renewed selling in crude oil, which ended the day lower by 1.3% at $35.79/bbl. Furthermore, the intraday selling in oil may have rekindled concerns about the high-yield debt space. To that point, the iShares iBoxx $ High Yield Corporate ETF (HYG 79.28, -0.25) opened in the green, but slumped to lows, dragging the broader market with it.

The late morning pullback returned the market into the bottom half of its trading range where action was confined until the final hour rally placed the S&P 500 just below its early high. The energy sector (+0.1%) ended the day just above its flat line while the remaining cyclical groups posted stronger gains.

The top-weighted technology sector (+1.1%) spent the day among the leaders thanks to a strong showing from high-beta microchip names. Avago Technologies (AVGO 145.80, +5.60) spiked 4.0% after RBC Capital Markets upgraded the stock while the broader PHLX Semiconductor Index rallied 1.9%.

Similar to technology, industrials (+0.8%) and financials (+0.9%) had a strong showing while the consumer discretionary sector (+0.4%) underperformed. Dow component Disney (DIS 106.59, -1.13) lost 1.1% despite a strong opening weekend for the latest installment of the Star Wars franchise while Chipotle Mexican Grill (CMG 522.01, -19.07) surrendered 3.5%, dropping to a new low for the year amid reports the Center for Disease Control is investigating new E. coli cases at company restaurants.

Treasuries showed losses overnight, but climbed into the green during morning action. The 10-yr note eked out a modest gain, pressuring its yield to 2.20% (-1 bp).

Today's participation was in line with recent averages as roughly 900 million shares changed hands at the NYSE floor.

Investors did not receive any economic data today, but tomorrow, the third estimate of Q3 GDP will be released at 8:30 ET (Briefing.com consensus 2.0%) while October FHFA Housing Price Index and November Existing Home Sales (Briefing.com consensus 5.30 million) will be reported at 9:00 ET and 10:00 ET, respectively.

Nasdaq Composite +4.9% YTD
S&P 500 -1.8% YTD
Dow Jones Industrial Average -3.2% YTD
Russell 2000 -6.1% YTD

3:15 pm: [BRIEFING.COM]

The dollar was pressed to session lows in mid-day trade, breaking down to near the 98.7 level, as both strength in the Euro and Yen won out against the struggling dollar.
Underwhelming BOJ stimulus measures, and a firming Euro (as the market re-assessed the outcome of Spanish elections) were primary drivers of index weakness.
The dollar closed at modest losses into the commodity closes, and is now -0.4% to 98.39
WTI traded in in a moderate, negative range for most of the session, as a lack of fresh catalysts failed to give price momentum a solid direction.
Media coverage was bearish for most of the day, with articles focusing on potentially depressed heating oil demand, and potential increases in both US/Russian production.
The February contract finished at the mid-point of its daily range (between $36.10 - $35.35) at -1.3% to $35.79/barrel
Natural gas rallied sharply mid-morning, on a more bullish revision to near-term national weather forecasts. The close of +7.9% to $1.91/MMBtu established one of the largest gains of the year for the depressed commodity.
Metals closed broadly higher- aided by a fledgling dollar and potentially bullish production cuts (for copper) out of China. Gold closed +1.5% to $1080.70/oz, silver +1.5% to $14.30/oz and copper at +1.4% to $2.14/lb

3:00 pm:

[BRIEFING.COM] As trading enters into its final hour, the major indices remain in the middle of their trading ranges. The Nasdaq (+0.4%) leads the S&P 500 (+0.3%) and Dow Jones Industrial Average (+0.2%).

In sectors, seven of ten groups continue to trade in the green with only energy (-0.1%), utilities (-0.1%) and consumer discretionary (-0.1%) showing losses. Elsewhere, high-beta chip makers have contributed to relative strength in the technology sector with the PHLX Semiconductors index trading higher by 1.1%. thanks in part to heavily-weighted component Qualcomm (QCOM 48.48, +1.05). The stock is up following last week's heavy selling.

On a separate note, Chipotle Mexican Grill (CMG 527.55, -13.39) has dropped to a new low for the year after it was reported the Center for Disease Control is investigating new E. coli cases at company restaurants. Shares of CMG trade lower by 2.3%.

In Treasuries, the benchmark note remains near its lows with its yield lower by one basis point to 2.19%.

2:30 pm:

[BRIEFING.COM] The major averages hover in the middle of their trading ranges with the Nasdaq (+0.6%) remaining ahead of the S&P 500 (+0.4%).

In sectors, telecommunication (+0.7%), health care (+0.6%), and technology (+0.6%) top the leaderboard.

In telecommunications, Juniper Networks (JNPR 27.32, -1.35) is down 4.7% today following news that the U.S. government is looking into its recent data breach. However, that loss is being overshadowed by solid gains from the likes of CIENA (CIEN 20.23, +0.43), Infinera (INFN 18.11, +0.37), and Harris Corp. (HRS 83.92, +1.21). Furthermore, sector heavy-weight AT&T (T 33.92, 0.32) has climbed 0.9%.

In currencies, the U.S. Dollar Index has moved off of its session low but remains down 0.3% on the day trading at 98.40.This has helped the euro rise against the dollar, pushing the single currency to 1.0925.

2:00 pm:

[BRIEFING.COM] As afternoon trading continues, the major indices are extending their gains from their session lows, but remain beneath their opening highs. The tech-heavy Nasdaq (+0.7%) leads the S&P 500 (+0.6%).

Nine of ten sectors are now trading above their flat lines. On the top of the leaderboard, health care (+0.7%), technology (+0.7%), and financials (+0.6%) outperform the broader market. On the flipside, energy (-0.5%) is still showing losses with utilities (UNCH) and consumer discretionary (+0.3%) ahead.

In technology, large cap components have advanced off of their earlier weakness with Apple (AAPL 107.07, +1.01) and Microsoft (MSFT 54.60, +0.48) outperforming the broader sector with respective gains of 0.8% and 1.0%. Elsewhere in technology, Qualcomm (QCOM 48.87, 1.44) also outperforms, showing a gain of 3.1% on the day.

Meanwhile, Treasuries are near their daily lows, with yield lower by one basis points at 2.20%. .

1:25 pm:

[BRIEFING.COM] The major averages hover in the middle of their trading ranges after sliding from their opening highs.

All ten sectors contributed to the opening move higher, but continued weakness in the price of crude has not gone unnoticed by the market. WTI crude is currently lower by 1.3% at $35.59/bbl, which has dragged the energy sector (-0.6%) into the red.

Similar to energy, the consumer discretionary sector (+0.2%) underperforms while other growth-sensitive groups have held up relatively well through the first half of the trading day. The top-weighted technology sector (+0.7%) trades ahead of its peers while industrials (+0.6%) and financials (+0.6%) follow not far behind.

1:05 pm:

[BRIEFING.COM] The stock market holds a modest midday gain after backing away from its opening high. The major indices began their day higher following strong overnight action overseas, but they have struggled to maintain their positions. Continued selling pressure in oil, renewed worries in the high-yield debt space, and continuing growth concerns have contributed to today's slide from opening highs, Currently, the Dow Jones Industrial Average (+0.3%) trails both the S&P 500 (+0.4%) and the Nasdaq (+0.7%)
Related Quotes

In sectors, seven of ten sectors are showing gains with materials (+0.5%), technology (+0.5%), and health care (+0.4%) leading the pack. Meanwhile on the other side of the leaderboard, energy (-0.9%), utilities (-0.4%), and consumer discretionary (-0.2%) lag.

Notably, the energy sector continues to struggle today due to sliding prices in oil. WTI crude has slipped 1.0% today, currently trading at $35.68/bbl. Large cap sector component Chevron (CVX 88.50, -1.30) does not appear to be helping the broader sector as it continues to outpace its losses. Chevron is down 1.4% on the day despite an upgrade to Market Outperform from Market Perform at Macquarie.

Renewed concerns in the high-yield debt space appear to have contributed to the sharp pullback from mid-morning highs. This has manifested itself through selling in the iShares iBoxx $ High Yield ETF (HYG 79.20, -0.33) during that same period.

Elsewhere, in the consumer discretionary space, Disney (DIS 106.75, -0.97) has fallen 1.0% and continues to anchor the larger sector despite stronger than expected opening weekend box office numbers for Star Wars: the Force Awakens. As a result, the stock has dipped back below its 50-day moving average (109). On a related note, IMAX (IMAX 36.61, -1.22) and AMC (AMC 24.12, -0.66) are also posting losses, despite what was presumably a strong weekend of sales for the two. The two stocks are down 3.1% and 2.6%, respectively.

In Treasuries, the benchmark note is near its high with its yield dropping two basis points to 2.19%

12:30 pm:

[BRIEFING.COM] The major averages are moving off of their session lows with the Nasdaq (+0.4%) ahead of the S&P 500 (+0.2%).

Currently, the energy sector (-0.8%) is rounding out the leaderboard followed by utilities (-0.5%), and consumer discretionary (-0.1%). In energy, the broader sector continues to be hit by falling oil price as WTI crude trades down 1.4% at $35.54/bbl. Lower oil prices continue to anchor the energy sector, which has fallen 12.7% in December alone.

On a related note, Pioneer Natural Resources (115.65, -5.63) announced its plans to begin exporting crude oil in the middle of 2016, thanks to provisions in the federal budget.

In currencies, the Dollar Index is now moving higher off its session low of 98.29. Currently the index is down 0.3% at 98.41.

12:00 pm:

[BRIEFING.COM] The major averages have returned to their flat lines with the Nasdaq (+0.3%) remaining ahead of the S&P 500 (+0.1%) and the Dow Jones Industrial Average (UNCH).

Seven of ten sectors are currently in the green with telecommunications (+0.3%), health care (+0.3%), and technology (+0.3%) on the top of the leaderboard. Meanwhile, on the flipside, energy (-0.5%), unities (-0.3%), and consumer discretionary (-0.2%) lead the losses.

In the high-yield debt space, iBoxx $ High Yield ETF (HYG 79.14, -0.39), has extended its loss and is now down by 0.5%.

Elsewhere, in currencies, the U.S. Dollar Index continues to slide as the index approaches new lows at 98.35, down 0.4% today.

In Treasuries, the benchmark note trades near its high with the yield lower by three basis points to 2.17%.

11:30 am:

[BRIEFING.COM] The major averages have slid from their morning highs with the tech-heavy Nasdaq (+0.4%) enjoying a narrow lead over the S&P 500 (+0.3%). Renewed concerns about the high-yield debt space may have contributed to the pullback, evidenced by the iShares iBoxx $ High Yield ETF (HYG 79.23, -0.30), which is lower by 0.4%.

Elsewhere, the energy sector (-0.3%) remains keyed into the sharp fluctuations in oil while large cap components Chevron (CVX 86.64, -0.19) and ExxonMobil (XOM 77.33, +0.05) continue to outperform the weaker sector.

In specific company news, Ericsson (ERIC 9.54, +0.41) remains up by 4.5% following the announcement of a global patent licensing agreement with Apple (AAPL 105.99, -0.04) that also settled all patent litigation between the two companies.

In Treasuries, the 10-yr note has notched a new high with its yield down two basis point at 2.18%.

11:00 am:

[BRIEFING.COM] The major U.S. indices are trading closer to their morning highs with the tech-heavy Nasdaq (+0.6%) leading the S&P 500 (+0.6%) and the Dow Jones Industrial Average (+0.5%).

All ten sectors are above their flat lines with financials (+0.8%), industrials (+0.8%), and technology (+0.6%) on the top of the leaderboard. On the other side of the leaderboard, consumer discretionary (+0.3%), utilities (+0.4%), and telecommunications (+0.5%) are underperforming.

In the consumer discretionary space, Disney (DIS 106.50, -1.22) has fallen 1.5% so far today. This action comes despite posting stronger than expected numbers regarding its opening box office weekend for Star Wars: The Force Awakens. The movie hauled in $238 million dollars at the domestic box office, beating an earlier record held by Jurassic World of $209 million. The stock has dipped back below its 50-day moving average (109). On a related note, IMAX (IMAX 37.71, -1.12) and AMC (AMC 24.51, -0.27) are also posting losses, despite what was presumably strong weekend sales for the two. The two stocks are down 2.8% and 1.1% respectively.

Meanwhile, in currencies, the U.S. Dollar Index has continued to slide throughout the morning session. The index is trading at 98.42, down 0.3% on the day.

In commodities, WTI crude is trading off its daily low. Oil has cut its loss to 1.0% on the day, trading at $35.69/bbl after hitting a low of $35.36/bbl.

10:15 am: [BRIEFING.COM]

The dollar traded in a modest range around the flat-line in early trade, driven by moderate movements in both the Yen and Euro
The Euro fell against the dollar on sentiment surrounding the Spanish Parliamentary elections, while slight losses by the Yen were caused by an underwhelmed response to the Bank of Japan's stimulus measures (as asset purchase amounts were not increased).
The index then proceeded to see selling pressure in mid-morning trade, before bouncing from resistance near 98.40, to now trade -0.2% to 98.49
Precious metals are trading in the green due to the weaker dollar, with gold at +1.2% to $1077.50/oz and silver +0.9% to $14.24/oz
WTI has trended lower all session, as a lack of recent catalysts has left market participants focusing on recent bearish supply developments.
Ahead of this week's EIA storage data, warming near-term weather trends (dampening heating oil demand), lifting of the US export ban and increased Soviet production have all been the subject of media focus.
The February contract caught a bounce near $36/barrel, and now extending near its LoD to -1% to $35.76/barrel
Natural gas is seeing a strong rally, following forecasts that have called for near-term cool weather patterns for a portion of the N.E. US.
January Nat gas is now +7.4% to $1.90/MMBtu
Copper has rallied gradually higher on news that Chinese smelters have agreed to increase production cuts, should copper prices fall further. Copper is now +0.8% to $2.13/lb

10:00 am:

[BRIEFING.COM] The major indices are trading beneath their opening highs with the S&P 500 (+0.6%), the Nasdaq (0.6%), and the Dow Jones Industrial Average (+0.6%) all trading in-line.

Nine of ten sectors continue to trade in the green with financials (+1.0%) lengthening their lead over the other sectors. In financials, large cap constituents JP Morgan Chase (JPM 65.16, +0.76) and Bank of America (BAC 16.92, +0.16) are each showing solid gains after recent selling action from Friday.

Elsewhere in energy (-0.4%) large cap component Chevron (CVX 89.37, -0.44) is trading lower despite receiving an upgrade to Market Outperform from Market Perform at Macquarie.

9:45 am:

[BRIEFING.COM] The major indices have all opened above their flat lines with the S&P 500 trading higher by 0.6%.

In sectors, nine of ten sectors have opened in the green with industrials (+0.8%), information technology (+0.9%), and financials (1.0%) outperforming. Conversely, energy (-0.5%) underperforms as WTI crude has continued to slip into the open, as oil now trades lower by 1.8% at $35.43/bbl.

In specific company news, Disney (DIS 109.53, +1.81) has overtaken its 200-day moving average (109) following the strong box office debut of Star Wars: the Force Awakens. The movie has earned $238 million over the weekend in domestic box offices

In Treasuries, the benchmark note is trading up with its yield down two basis point at 2.19%.

9:10 am: S&P futures vs fair value: +11.50. Nasdaq futures vs fair value: +35.30.

[BRIEFING.COM] The stock market is on track for a higher open as S&P 500 futures trade 12 points above fair value after spiking to highs shortly before the start of the European session.

Overnight, Asian markets began the trading week on a mixed note with China's Shanghai Composite (+1.8%) outpacing other regional indices thanks to stimulus hopes. Meanwhile, European indices trade mostly higher with the exception of Spain's IBEX (-2.5%), which has retreated due to uncertainty stemming from general elections that took place over the weekend. Mariano Rajoy's Partido Popular came out on top, receiving 123 seats, but forming a lasting coalition government may be a challenge considering ideological differences. Spain's 10-yr note has sold off, sending its yield higher by ten basis points to 1.79% while the euro has taken the news in stride, trading little changed against the dollar (1.0865).

The election results have provided for headline fodder this morning, while corporate news has been limited, which could be the case for the remainder of the week. In M&A news, Syngenta (SYT 77.77, +2.84) has spiked 3.8% in pre-market after Bloomberg reported ChinaChem might increase its bid for SYT to CHF470/share.

Treasuries have erased their overnight losses in recent action, pressuring the 10-yr yield to 2.19% (-2 bps).

9:00 am: [BRIEFING.COM] S&P futures vs fair value: +11.80. Nasdaq futures vs fair value: +35.30.

The S&P futures trade twelve points above fair value.

Markets across the Asia-Pacific region began the holiday week on a mixed note. Japan's Nikkei (-0.4%) was down near 2.0% at the start of the trading day, but the index recovered to end with just a modest loss. The yen had little impact on action in equities as the currency shed 0.2%, pushing the dollar/yen pair up to 121.38. Elsewhere, China's Shanghai Composite surged 1.8% with stimulus hopes fueling the advance, which unfolded during the second half of the trading day. Power companies were in focus after it was reported the government plans to reform the industry next year.

Economic data was limited:
Japan's All Industries Activity Index +1.0% month-over-month (expected 0.9%; previous -0.2%)
Hong Kong's November CPI +2.4% year-over-year (consensus 2.3%; previous 2.4%)
New Zealand's Q4 Westpac Consumer Sentiment 110.7 (prior 106.0), Visitor Arrivals +3.9% month-over-month (previous 0.4%), and Credit Card Spending +8.5% year-over-year (prior 7.8%)

---Equity Markets---

Japan's Nikkei ended off its low, but still lost 0.4%. Most sectors ended the day in negative territory with technology (-1.1%) and health care (-0.9%) pacing the retreat. On the flip side, consumer staples (+0.5%) and utilities (+0.3%) outperformed. Toshiba was a notable laggard, falling 9.8%, after the company forecast a record loss and said it will cut 6,800 jobs. Peers Sony, Pioneer, and Panasonic lost between 1.9% and 2.7%.
Hong Kong's Hang Seng added 0.2% with help from select gaming and financial names. Galaxy Entertainment spiked 3.4% while Ping An Insurance, Bank of China, and China Construction Bank climbed between 0.8% and 1.6%. On the downside, Li & Fung and Tencent lost 1.0% and 0.7%, respectively.
China's Shanghai Composite surged 1.8% with financials contributing to the rally. China Minsheng Bank soared 9.9% while Agricultural Bank of China, CITIC Securities, and China Everbright Bank advanced between 0.9% and 4.1%.

Major European indices trade mostly higher with the exception of Spain's IBEX (-2.4%), which has retreated after a weekend general election injected some uncertainty into the markets. Specifically, Spain is set to end its 33-year stretch with a two-party system after Podemos and Ciudadanos received enough votes to enter congress. Mariano Rajoy's Partido Popular came out on top, receiving 123 votes, but forming a lasting coalition government may be a challenge considering ideological differences. Spain's 10-yr note has sold off, sending its yield higher by ten basis points to 1.79% while the euro has taken the news in stride, trading little changed against the dollar (1.0865).

Economic data was scarce:
UK's December CBI Distributive Trades Survey rose to 19 from 7 (expected 21)
Spain's trade deficit narrowed to EUR1.90 billion from EUR2.50 billion

---Equity Markets---

UK's FTSE is higher by 0.9% with miners contributing to the advance. Anglo American, BHP Billiton, Glencore, and Rio Tinto are up between 2.6% and 7.3%. On the flip side, several consumer names have failed to keep up with Coca-Cola HBC, Associated British Foods, and Sports Direct down between 0.7% and 2.3%.
Germany's DAX trades up 1.0% with utilities well ahead of other listings. RWE and E.On lead with respective gains of 3.7% and 3.4%, while Volkswagen, Daimler, and BMW have surged between 1.6% and 2.9%. On the downside, Deutsche Boerse has given up 1.8%.
France's CAC has climbed 0.5% amid strength in 2/3 of its components. Growth-sensitive Valeo, ArcelorMittal, Safran, and Renault lead the advance with gains between 1.8% and 3.5% while financials trade mostly higher. Societe Generale and BNP Paribas are both up near 0.7% while Credit Agricole trades down 0.8%.
Spain's IBEX has surrendered 2.5%, dropping to last week's low. Financials underperform with Caixabank, Banco Popular, Banco Sabadell, Bankia, and BBVA down between 3.0% and 6.4%. On the upside, ArcelorMittal has bucked the trend, trading higher by 1.8%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +32.80.

As pre-market trading enters its final hour, S&P 500 futures are currently trading near their highs at eleven points above fair value.

In Treasuries, the benchmark note has remained near its low with the yield on the note rising one basis point to 2.21%.

In specific company news, both Disney (DIS 109.10, +1.38) and IMAX (38.80, +0.97) are higher in pre-market trading after the successful box office debut of Star Wars: the Force Awakens. The movie has earned $238 million over the weekend in domestic box offices. FBR Capital has raised their domestic estimate for the film to $890 million from $730 million and Stifel has raised their estimate for the same from $700 million to $800 million.

Elsewhere, Ericsson (ERIC 9.64, +0.51 ) is trading higher by 5.6% following the news of a global patent licensing agreement with Apple.

In commodities, WTI crude remains down 1.0% with oil last trading at $35.67/bbl.

8:04 am: [BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +34.30.

U.S. equity futures trade near their pre-market highs with the S&P 500 futures currently trading 11 points above fair value.

In Treasuries, the benchmark note currently sits near its overnight low with the yield on the 10-yr note higher by one basis point at 2.21%.

In U.S. corporate news of note:

Carnival (CCL 53.34, +0.93): +1.8% following an raised target price from $61 to $64, citing better than expected 2016 guidance
Emerson Electric (EMR 44.00, -0.59): -1.3% following the company disclosing 3-month order growth declining 10% in November.
CarMax (KMX 53.55, +0.00 ): UNCH following a target price reduction at RBC from $65 to $58 after a 3Q miss on earnings
Disney (DIS 109, +1.28): +1.2% following Stifel raising their domestic box office estimates on Star Wars: the Force Awakens to $800mn from $700mn

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei -0.4%, Hong Kong's Hang Seng +0.2%, and China's Shanghai Composite +1.8%
Economic data was limited:
Japan's All Industries Activity Index +1.0% month-over-month (expected 0.9%; previous -0.2%)
Hong Kong's November CPI +2.4% year-over-year (consensus 2.3%; previous 2.4%)
New Zealand's Q4 Westpac Consumer Sentiment 110.7 (prior 106.0), Visitor Arrivals +3.9% month-over-month (previous 0.4%), and Credit Card Spending +8.5% year-over-year (prior 7.8%)
In news:
China's Shanghai Composite outperformed other regional indices thanks to stimulus hopes
Major European indices trade mostly higher. UK's FTSE +0.8%, Germany's DAX +0.6%, and France's CAC +0.3%. Elsewhere, Italy's MIB +0.3% and Spain's IBEX -2.8%
Economic data was scarce:
UK's December CBI Distributive Trades Survey rose to 19 from 7 (expected 21)
Spain's trade deficit narrowed to EUR1.90 billion from EUR2.50 billion
In news:
Spain is set to end its 33-year stretch with a two-party system after Podemos and Ciudadanos received enough votes to enter congress. Mariano Rajoy's Partido Popular came out on top, receiving 123 votes, but forming a lasting coalition government may be a challenge considering ideological differences.

5:55 am: [BRIEFING.COM] S&P futures vs fair value: +14.50. Nasdaq futures vs fair value: +41.00.

5:55 am: [BRIEFING.COM] Nikkei...18916.02...-70.80...-0.40%. Hang Seng...21791.68...+36.10...+0.20%.

5:55 am: [BRIEFING.COM] FTSE...6109.41...+57.00...+0.90%. DAX...10754.93...+146.70...+1.40%.

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)
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