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 Post subject: December 22nd Tuesday Trade Results - Profit $7125.00
PostPosted: Tue Dec 22, 2015 10:23 pm 
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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)

Attachment:
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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 @ $7125.00 dollars or +142.50 points, Light Crude Oil CL ($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 @ $7125.00 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=2248

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 registered its second consecutive advance on Tuesday with the S&P 500 climbing 0.9%. The benchmark index returned above its 100-day moving average (2,026) while the Nasdaq Composite (+0.7%) underperformed throughout the day.

Overall, the Tuesday affair was very quiet, which was evidenced by light trading volume as fewer than 850 million shares changed hands at the NYSE floor.

Equity indices ranged near their flat lines through the first two hours of the session, climbing to new highs during the afternoon. All ten sectors ended the day with gains, paced by the energy sector (+1.2%), which settled among the leaders.

To little surprise, the rally in the energy sector was underpinned by crude oil as the commodity advanced 1.0% to $36.14/bbl. Similarly, another commodity-linked sector-materials (+1.2%)-spent the day near the top of the leaderboard while most other cyclical groups posted slimmer gains.

For instance, the industrial sector (+1.2%) received support from transport stocks, evidenced by a 1.5% gain in the Dow Jones Transportation Average. The bellwether complex extended this week's advance to 2.2%, but the group remains down 7.1% in December versus a 2.0% decline in the S&P 500.

Elsewhere, the top-weighted technology sector (+0.7%) spent the day a bit behind the broader market due to daylong weakness in the shares of Apple (AAPL 107.23, -0.10). The largest stock by market cap continued its recent underperformance, shedding 0.1%, after Cowen lowered its AAPL price target to $130.

Staying in the tech sector, high-beta chipmakers also failed to keep pace with the market, largely due to SunEdison (SUNE 5.31, -1.43) as the stock plunged after activist investor David Tepper, who holds a stake in the company, demanded to inspect SUNE's financial records. Shares of SUNE sank 21.2% while the PHLLX Semiconductor Index added 0.2%.

Today's advance in equities was accompanied by steady selling in the bond market. The 10-yr note slumped to lows into the close, pushing its yield up to 2.24% (+5 bps).

Economic data included Q3 GDP, Existing Home Sales, and FHFA Housing Price Index:

The third estimate for third quarter GDP was revised slightly lower to 2.0% from the second estimate of 2.1%, which was in-line with the Briefing.com consensus estimate
The GDP Deflator was unchanged at 1.3%, also as expected
The slight downward revision stemmed largely from revisions to the change in private inventories, net exports, and gross private domestic investment while real final sales growth, which excludes the change in inventories, was unchanged at 2.7%
Existing home sales declined 10.5% to a seasonally adjusted annual rate of 4.76 million, which was well below the Briefing.com consensus estimate of 5.30 million and followed a downward revision to sales in October from 5.36 million to 5.32 million
This was the first time since January-February 2014 that existing home sales have declined in consecutive months. Furthermore, the decline in November left existing home sales down 3.8% from a year ago, which is the first year-over-year decrease since September 2014
The October FHFA Housing Price Index rose 0.5% to follow last month's revised reading of +0.7% (from +0.8%)

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while November Personal Income (Briefing.com consensus 0.3%)/Spending data (Briefing.com consensus 0.3%) and November Durable Orders (Briefing.com consensus -0.7%) will be reported at 8:30 ET. The November New Home Sales report (Briefing.com consensus 505K) and the final reading of the December Michigan Sentiment Index (Briefing.com consensus 92.0) will both be released at 10:00 ET.

Nasdaq Composite +5.6% YTD
S&P 500 -1.0% YTD
Dow Jones Industrial Average -2.3% YTD
Russell 2000 -5.2% YTD

3:15 pm: [BRIEFING.COM]

The dollar index was pressed to negatives for the session in early trade, and saw no reversal to that momentum following the morning's GDP and Existing Home Sales data.
In-line Q3 GDP of 2% offered no support for the dollar going into Nov. Existing Home Sales- which were underwhelming at 4.76 mln (vs. a 5.30 mln est.)
A gradual sell-off continued in the index well through the commodity closes, with a recent bounce from the 98 level putting the current price at +% to
Crude saw a rally from near-flat in mid-morning trade, despite the re-emergence of bearish price prediction from both Goldman Sachs and the IMF.
Despite the bearish market discussion (which began to focus on weather-driven heating-demand slack), February WTI held solid gains from its sharp morning rally to close +1% to $36.14/barrel
Natural gas traded in a moderately volatile range, with price action lacking a definitive trend for the session. The January contract closed just above session support (seen near the $1.87 level) at -1% to $1.89/MMBtu
Both gold and copper failed to see support from the weakening dollar, closing near their LoDs. Silver meanwhile traded nearer to the unchanged mark.
Gold closed -0.6% to $1074.10/oz, copper finished -1.4% to $2.11/lb and silver ended $0.01 higher at $14.31/oz

2:30 pm:

[BRIEFING.COM] The Dow Jones Industrial Average (+0.9%) is leading the other major indices while the Nasdaq underperforms (+0.5%).

In sectors, materials (+1.4%) has narrowed the gap against energy (+1.4%) on the top of the leaderboard, with industrials (+1.2%) and telecommunications (+0.8%) following. Including today's performance's only the four countercyclical sectors are showing advances in the month of December with consumer staples (+2.3%), telecommunication (+1.6%), health care (0.9%) and utilities (0.5%).

On a related note, in commodities, WTI crude is currently trading beneath its daily high at $36.12/bbl as the commodity prepares for the close of its pit session at 14:30 ET. Oil has cut its advance to 0.9% on the day.

In currencies, the U.S. Dollar Index has settled into a narrow trading range for the better part of the afternoon. The index is down 0.2% on the day at 98.15.

Turning to Treasuries, the benchmark note now trades at a new daily low with yield higher by five basis points at 2.24%.

2:00 pm:

[BRIEFING.COM] As afternoon trading continues, the major indices trade near their highs with the Dow Jones Industrial (+0.9%) leading the S&P 500 (+0.7%) and the Nasdaq (+0.3%).

Switching to sectors, energy (+1.5%), materials (+1.4%), industrials (+1.2%), and consumer staples (+0.8%) sit on top of the leaderboard. On other side, utilities (+0.2%), health care (+0.4%), technology (+0.4%), and telecommunication (+0.6%).

In materials, the broader sector has been showing relative strength after a difficult December. Including today's performance the sector is down 4.7% this month. Notable performances today include Dow Chemical (DOW 51.92, +0.95) Monsanto (MON 97.70, +2.27), and Alcoa (AA9.48, +0.16) as the three show gains of 1.8%, 2.3%, and 1.7% respectively.

Meanwhile in Treasuries, the benchmark note trades at its low with yield higher by four basis points to 2.23%.

1:25 pm:

[BRIEFING.COM] Quiet afternoon action continues with the key indices drifting near their recently-established session highs. The S&P 500 trades up 0.6%, extending this week's gain to 1.4%.

All ten sectors hover in the green with commodity-sensitive energy (+1.5%) and materials (+1.2%) rebounding after enduring a rough start to the month. Despite today's gains, the two sectors continue holding respective month-to-date losses of 10.6% and 4.9%.

To be fair, cyclical sectors have struggled as a whole, considering every growth-sensitive group shows a loss for the month. Meanwhile, the four countercyclical sectors are up between 0.4% (utilities) and 2.1% (consumer staples) in December.

1:05 pm:

[BRIEFING.COM] The major averages hold modest midday gains after building their way back up from a momentary mid-morning slip. The stock market opened on a quiet note, after range-bound movement in overnight trading. Overall, today's trading thus far has been dominated by a reversal in crude oil and relative weakness from chip makers. The Dow Jones Industrial Average (+0.7%) leads the S&P 500 (0.6%) and the Nasdaq (+0.2%).

WTI crude had a strong session overnight where the commodity was able to maintain the $36.00/bbl price level. Heading into today's pit session, oil briefly slipped into the before turning positive. WTI crude is currently up 1.2% at $36.25/bbl.

As a result of today's move in oil, energy (+1.4%) has been able to climb to the top of the leaderboard ahead of materials (+1.0%) and industrials (+0.8%). On the flipside, utilities (+0.2%), consumer discretionary (+0.3%) health care (+0.3%), and technology (+0.3%) round out the bottom four positions on the leaderboard. In the energy space, large cap components have slightly underpeformed the broader sector with Chevron (CVX 90.31, +1.06) and Exxon Mobil (XOM 77.77, +0.51) up 1.1% and 0.7%, respectively.
Related Quotes

Elsewhere, the top-weighted technology sector (+0.4%) sits a bit behind the broader market with Apple (AAPL 106.88, -0.44) trading flat, which has kept the Nasdaq behind the S&P 500. Similarly, high-beta chip makers have also contributed to the sector's underperformance with the PHLX Semiconductors index down 0.2% so far today. The index as a whole continues to struggle with Micron Technology (MU 14.55, -0.22), Texas Instruments (TXN 55.32, -0.49) and NVIDIA (NVDA 32.79, -0.10) sporting losses of 1.2%, 0.6%, and 0.2% respectively. It is worth noting that Micron will report its earning after today's close.

Meanwhile in Treasuries, the benchmark note has remained near its low with yield being pushed higher by three basis points to 2.22%.

Economic data included Q3 GDP, Existing Home Sales, and FHFA Housing Price Index:

The third estimate for third quarter GDP was revised slightly lower to 2.0% from the second estimate of 2.1%, which was in-line with the Briefing.com consensus estimate
The GDP Deflator was unchanged at 1.3%, also as expected
The slight downward revision stemmed largely from revisions to the change in private inventories, net exports, and gross private domestic investment while real final sales growth, which excludes the change in inventories, was unchanged at 2.7%
Existing home sales declined 10.5% to a seasonally adjusted annual rate of 4.76 million, which was well below the Briefing.com consensus estimate of 5.30 million and followed a downward revision to sales in October from 5.36 million to 5.32 million
This was the first time since January-February 2014 that existing home sales have declined in consecutive months. Furthermore, the decline in November left existing home sales down 3.8% from a year ago, which is the first year-over-year decrease since September 2014
The October FHFA Housing Price Index rose 0.5% to follow last month's revised reading of +0.7% (from +0.8%)

12:30 pm:

[BRIEFING.COM] The stock market has moved slightly lower off of its afternoon highs with the Dow Jones (+0.5%) leading both the S&P 500 (+0.4%), and the Nasdaq (UNCH).

In sectors, health care (+0.1%) has flirted with negative territory once more today and currently occupies the lowest position on the leaderboard. Immediately ahead of health care is the consumer discrepancy space (+0.1%), utilities (+0.1%), and technology (+0.2%).

In the technology sector, high-beta chip makers have contributed to relative weakness with the PHLX Semiconductors index down 0.5% on the day. The index has been hurt by the recent performance of SunEdison (SUNE 2.11, -1.63) which is down more than 23.8% following the news that AMLP was demanding to inspect the company's issuer books and records to confirm compliance with Delaware state law. Aside from SunEdison the index as a whole continues to struggle with Micron Technology (MU 14.55, -0.22), Texas Instruments (TXN 55.32, -0.49) and NVIDIA (NVDA 32.79, -0.10) sporting losses of 1.5%, 0.9%, and 0.3% respectively.

11:55 am:

[BRIEFING.COM] The major indices are trading near their morning highs with the S&P 500 (+0.5%) outperforming the Nasdaq (+0.2%)

All ten sectors have returned to the green with energy (+1.7%), materials (+0.7%), and industrials (+0.6%) remaining at the top of the leaderboard. On the other side of the leaderboard, health care (+0.2%), utilities (+0.2%), consumer discretionary (+0.3%), and financials (+0.3%) round out the sectors.

The struggling health care sector has been hurt by poor performances from health care plan providers with UnitedHealth Group (UNH 116.70, -0.71), Aetna (AET 108.48, -1.24) and Humana (HUM 175.12, -0.98) showing respective losses of 0.6%, 1.2%, and 0.6%.

In commodities, WTI crude has moved back near its high with oil trading up 1.7% to $36.40/bbl.

11:30 am:

[BRIEFING.COM] The tech-heavy Nasdaq (-0.1%) lags behind both the S&P 500 (+0.1%) and the Dow Jones Industrial Average (+0.2%).

Interesting to note, the four top weighted sectors in the S&P 500 are trading behind the broader index with information technology (UNCH), consumer discretionary (UNCH), financials (-0.1%) and health care (-0.2%) underperforming.

In the technology space, heavily-weighted Apple (AAPL 106.70, -0.71) continues to weigh on the sector. The company received a downgrade from Cowen this morning, which lowered the target price for Apple from $135 to $130. The stock is down 0.6% today and 10% in the month of December.

Meanwhile in currencies, the Dollar Index has slid throughout the morning. The index is currently trading down 0.3% to 98.08.

11:00 am:

[BRIEFING.COM] The major indices are trading higher, after a brief test of their flat lines. The S&P 500 (+0.2%), the Dow Jones Industrial Average (+0.2%) and Nasdaq (+0.1%) are all pacing one another.

In sectors, energy (+1.6%), industrials (+0.5%), and materials (+0.5%) are on top of the leaderboard. On the flipside, utilities (UNCH), financials (UNCH), telecommunications (UNCH), and health care (+0.1%) complete the bottom half of the leaderboard.

In the energy space, WTI crude has helped push the sector higher by rallying 1.3% to $36.27/bbl so far today. In specific company news, Anadarko Petroleum (APC 48.13, +1.58) has been helped by rising crude prices and a recent spike on M&A speculation. Elsewhere in energy, large cap components have been slightly underperforming the broader sector with Chevron (CVX 90.26, +1.02) and Exxon Mobil (XOM 77.65, +0.39) up 1.1% and 0.5%, respectively.

In the financial sector, large cap components PNC (PNC 93.35, -1.11), JP Morgan Chase (JPM 65.26, -0.28), and Citigroup (C51.55, -0.24) continue to see heavier downward pressure than the wider sector with repective losses of 1.2%, 0.5%, and 0.5%.

In Treasuries, the benchmark note trades on its lows with yield higher by three basis points to 2.22%.

10:15 am: [BRIEFING.COM]

The dollar traded at modest gains overnight, before seeing gradual weakness and a fall back to flat ahead of the morning's US GDP data.
US Q3 GDP data was reported at +2% (in-line with the 2% consensus) which failed to quell the gradual slump in the dollar, which has since extended to current trade.
The dollar has fundamentally been driven throughout the session by a strengthening Euro and Australian Dollar- the AUS on bullish prospects associated with a potential increase in Chinese metal demand
The index is now holding modest losses at -0.4% to 98.04.
Precious metals have failed to see much of a tailwind from the weakening dollar, with early losses holding into current trade (despite a quick spike on the GDP data).
Gold now stands -0.4% to $1075.60/oz and silver is -0.1% to $14.31/oz
WTI has traded moderately higher (on light volume) for most of the session, despite bearish reports put out by Goldman Sachs and the IMF
Goldman Sachs circulated a note stating they see over-supply continuing deep into 2016, with mild winter weather potentially exacerbating those conditions
The IMF issued a report on Iran, noting that on-coming supply from the country could further depress near-term global prices.
In recent trade the commodity has slumped back toward the flat-line, still holding gains of +0.6% to $36.05/barrel
Natural gas sold off in early trade, bouncing from the $1.86/MMBtu level to now trade -0.6% to $1.90/MMBtu
Copper has pulled back from yesterday's strong gains, now -1% to $2.12/lb

10:00 am:

[BRIEFING.COM] The major averages remain near their flat lines with the S&P 500 higher by 0.1%.

Just released, existing home sales for November fell 10.5% from October to an annualized rate of 4.76 million units while the Briefing.com consensus expected a reading of 5.30 million.

9:45 am:

[BRIEFING.COM] The major indices have opened above their flat lines. The Dow Jones Industrial Average (+0.2%) and the S&P 500 (+0.2%) narrowly lead the Nasdaq (+0.1%).

The stock market as a whole is trading below its opening high. Nine of ten sectors have opened their day in the green with energy (+0.6%), materials (+0.5%), consumer discretionary (+0.5%), and industrials (+0.3%) on top of the leaderboard. On the flipside, telecom (UNCH) has dipped into the red.

Meanwhile, in commodities, oil teetered on negative territory prior to the open but has been higher since the bell. Oil currently trades up 0.3% at $35.91/bbl.

In Treasuries, the benchmark note is trading near its low with yield being pushed higher by two basis points to 2.21%.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +8.30. Nasdaq futures vs fair value: +20.30.

The stock market is on track for a modestly higher open with S&P 500 futures trading eight points above fair value after spending the night inside a relatively narrow range. The range-bound action has not been unique to U.S. futures as market across Asia ended the day on a mixed note while European indices also trade near their flat lines.

Investors received the third estimate of Q3 GDP today, which showed growth of 2.0%, matching the Briefing.com consensus. However, the final GDP reading is not known for inviting heavy trading activity. In fact, it would not be surprising to see below-average investor participation for the remainder of the week.

On the corporate front, Express Scripts (ESRX 89.73, +2.58) has climbed 3.0% in pre-market after issuing above-consensus guidance for fiscal year 2016.

Treasuries hold modest losses with the 10-yr yield up two basis points at 2.21%.

The Existing Home Sales report for November (Briefing.com consensus 5.30 million) will be released at 10:00 ET.

9:02 am: [BRIEFING.COM] S&P futures vs fair value: +7.80. Nasdaq futures vs fair value: +16.60.

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

The FHFA Housing Price Index for October rose 0.5%, with a revision in September to +0.7 from +0.8.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +12.00.

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

Markets in the Asia-Pacific region ended Tuesday on a mixed note with movements in most indices restricted to no more than 0.7% in either direction. Japan's Nikkei (-0.2%) was among the laggards while China's Shanghai Composite (+0.3%) eked out a slim gain. In news, the Japanese government announced that next year's planned issuance of deficit financing bonds will be around JPY28.80 trillion, representing an eight-year low. Meanwhile in China, government officials said they plan to address structural problems like industrial overcapacity and property gluts, but no specifics were provided.

Economic data was limited:
China's November Leading Economic Index +0.6% (previous 0.3%)

---Equity Markets---

Japan's Nikkei shed 0.2% after spending the day inside a narrow range. Most sectors ended in the green with utilities (+0.6%) and consumer discretionary (+0.4%) in the lead while technology (-0.5%), consumer staples (-0.8%), and health care (-0.5%) lagged. Toshiba contributed to the weakness in technology as the stock struggled for the second consecutive day, tumbling 12.3%. Elsewhere, Fujitsu, Sharp, Mazda Motor, and TDK lost between 1.4% and 3.1% while Mitsumi Electric spiked 9.9% after announcing plans to merge with Minebea.
Hong Kong's Hang Seng added 0.2% after a range-bound session. Consumer and property names ended among the leaders with China Resources Beer Holdings, Li & Fung, New World Development, Henderson Land, and Hang Seng Bank rising between 0.8% and 4.9%. On the downside, Sands China fell 2.3% and Petrochina surrendered 0.8%.
China's Shanghai Composite ticked up 0.3% with help from select financials. Pacific Securities surged 6.5%, CITIC Securities jumped 1.5%, and Industrial Bank climbed 1.9%. On the downside, China State Construction Engineering fell 1.0%.

Major European indices trade mostly lower, but the early portion of the day has been relatively light in terms of trading volume and news flow. Spain's IBEX (+0.6%) has rebounded from yesterday's 3.6% dive while the euro has edged up 0.4% to 1.0958 against the dollar.

Economic data was limited:
Germany's November Import Price Index -0.2%, as expected (previous -0.3%); -3.5% year-over-year (consensus -3.8%; last -4.1%). Separately, GfK Consumer Climate ticked up to 9.4 from 9.3 (expected 9.3)
UK's November Public Sector Net Borrowing GBP13.56 billion (expected GBP11.00 billion; previous GBP6.75 billion)
Italy's November Non-EU trade surplus narrowed to EUR3.31 billion from EUR3.52 billion
Swiss November trade surplus narrowed to CHF3.14 billion from CHF4.09 billion (expected surplus of CHF3.82 billion)

---Equity Markets---

Germany's DAX is lower by 0.1%, dipping to levels from the start of last week. Infineon is the weakest performer, trading lower by 2.0% while financials trade mixed. Deutsche Bank is lower by 0.4% and Commerzbank has climbed 0.2%. Similarly, exporters are mixed with BMW and Daimler both down near 0.2% while Volkswagen has climbed 1.0%.
France's CAC trades down 0.1% amid weakness in consumer names. Carrefour, Danone, L'Oreal, Accor, and Pernod Ricard show losses between 0.5% and 1.3% while Veolia Environnement trades behind other index components with a 2.1% decline. Steelmaker ArcelorMittal has bucked the trend, trading higher by 3.6%.
UK's FTSE is higher by 0.7% with help from resource and financial names. Anglo American, BP, Royal Dutch Shell, Antofagasta, Barclays, and Old Mutual are up between 1.5% and 2.4% while consumer names have struggled to keep pace. ITV is down 1.8% while Tesco, TUI, and InterContinental Hotels have given up between 0.5% and 1.0%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +13.30.

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

The third estimate of third quarter GDP pointed to an expansion of 2.0%, which is what the Briefing.com consensus expected. Meanwhile, the third quarter GDP Deflator was left unchanged at 1.3%, which was also in line with the Briefing.com consensus.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +17.60.

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

In Treasuries, the benchmark note currently sits near its pre-market low with its yield higher by one basis point at 2.20%

On the economic front, 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.

In U.S. corporate news of note:

Chipotle Mexican Grill (CMG 511.01, 11.00): -2.1% on news that JP Morgan downgraded the stock from Overweight to Neutral on the heels of yesterday's announcement that the Center for Disease Control is investigating new E. coli cases
Express Scripts (ESRX 88.06, +0.91): +1.0% after the company raised full year earnings guidance for 2016 from $6.05 to $6.08-6.28
Spirit Airlines (SAVE 42.50, +1.38): +3.3% following an upgrade to Buy and a price target of $60 at Stifel
LKQ (LKQ 27.35, +0.04): +0.2% after the company signed a definitive agreement to acquire Rhia-Inter Auto Pats Italia for EUR 1.04 billion

Reviewing overnight developments:

Asian markets ended trading on a mixed note with Shanghai's Composite +0.3%, Hong Kon's Hang Seng +0.2% and Japan's Nikkei -0.2%.
Economic data was limited:
China's November Leading Economic Index +0.6% (previous 0.3%)
In news:
The Japanese government announced next year's planned issuance of deficit financing bonds will be around JPY28.80 trillion, representing an eight-year low
The Chinese government said they plan to address structural problems like industrial overcapacity and property gluts, but no specifics were provided.

European indices are trading mostly lower with Germany's DAX -0.5%, France's CAC -0.3%, and the U.K.'s FTSE +0.5%. Elsewhere, Spain's IBEX +0.2 and Italy's FTSE -0.1%.
Economic data was limited:
Germany's November Import Price Index -0.2%, as expected (previous -0.3%); -3.5% year-over-year (consensus -3.8%; last -4.1%). Separately, GfK Consumer Climate ticked up to 9.4 from 9.3 (expected 9.3)
UK's November Public Sector Net Borrowing GBP13.56 billion (expected GBP11.00 billion; previous GBP6.75 billion)
Italy's November Non-EU trade surplus narrowed to EUR3.31 billion from EUR3.52 billion
Swiss November trade surplus narrowed to CHF3.14 billion from CHF4.09 billion (expected surplus of CHF3.82 billion)
In news:
The euro has edged up 0.3% to 1.0940 against the dollar.

5:49 am: [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +4.10.

5:49 am: [BRIEFING.COM] Nikkei...18886.70...-29.30...-0.20%. Hang Seng...21830.02...+38.30...+0.20%.

5:49 am: [BRIEFING.COM] FTSE...6055...+20.20...+0.30%. DAX...10455.54...-42.20...-0.40%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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