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 Post subject: December 30th Wednesday Trade Results - Profit $13750.00
PostPosted: Thu Dec 31, 2015 2:45 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $13750.00 dollars or +275.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $13750.00 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=2254

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


4:20 pm: [BRIEFING.COM] The major indices ended Wednesday on a negative note after the market faced substantial selling pressure into the close with all the major indices settling near their lows. Despite the retreat today, the S&P 500 (-0.7%) was able to stay in positive territory for the year (+0.2%). The benchmark index outperformed the tech-heavy Nasdaq (-0.8%), which narrowed its 2015 advance to 7.0%.

Equity indices slipped into the open after overnight selling pressure in oil drove the commodity below the $37.00/bbl price level. This price action came after the American Petroleum Institute reported that crude stockpiles rose by 2.9 million barrels versus a decrease of 3.6 million barrels last week. An hour after the open, the Energy Information Administration disclosed a build of 2.629 million barrels on their weekly crude inventory report versus an expected draw of 2.457 million barrels. The commodity fell 2.9% on the day, ending at $36.80/bbl.

Accordingly, the commodity-sensitive energy (-1.5%) and materials (-1.0%) sectors posted the largest losses while utilities (-0.2%), consumer staples (-0.4%), healthcare (-0.5%), industrials (-0.8%), technology (-0.8%), consumer discretionary (-0.8%), and financials (-0.8%) outperformed.

In the energy space, large-components Exxon Mobil (XOM 78.11, -1.05) and Chevron (CVX 90.09, -1.16) kept pace with the decline in the broader sector, while pipeline and equipment companies such as Kinder Morgan (KMI 14.54, -0.56) lead the losses thanks to a corresponding drop in natural gas. The other energy component declined 5.3% today and ended at $2.25/MMbtu.

Elsewhere, in the health care group (-0.5%), the influential sector was helped by large-cap components Merck & Co. (MRK 53.22, -0.09) and AbbVie, Inc. (ABBV 59.80, +0.35) as the two helped the sector stay ahead of the broader market. Merck lost 0.2% and AbbVie added 0.8%. Meanwhile, biotechnology finished behind the sector, evidenced by a 0.7% decline in iShare Nasdaq Biotechnology ETF (IBB 340.86, -2.25).

In Treasuries, the benchmark note spent most of its day near its low, but investor participation was well below average, leaving the 10-yr yield unchanged at 2.30% On a somewhat related note, Puerto Rico's Governor Alejandro Garcia Padilla stated that the island will default on a $35.90 million payment due to the Infrastructure Finance Authority and a $1.40 million payment due to its Public Finance Corporation. However, Puerto Rico will pay $328.70 million to settle its general obligations, thus avoiding fallout from defaulting on debt backed by constitutional guarantees.

Once again, today's participation was very light with fewer than 600 million shares changing hands at the NYSE floor.

It was a quiet day with economic data limited to November Pending Home Sales, which fell 0.9% from a revised increase of 0.4% (from 0.2%) in October. The Briefing.com consensus expected an increase of 0.5% in November.

Tomorrow's economic data includes, weekly Initial (Briefing.com consensus 270,000) and Continuing Claims (Briefing.com consensus 2213k), which will be released at 8:30 ET while the Chicago PMI for December (Briefing.com consensus 50.1) will cross the wires at 9:45 ET.

Nasdaq +7.0% YTD
S&P 500 +0.2% YTD
Dow Jones -1.2% YTD
Russell 2000 -4.7% YTD

3:45 pm: [BRIEFING.COM]

Oil prices sold off overnight following the bearish API data. Prices remained in the red today with the front-month Feb crude oil ending -3.4% at $36.60/barrel
Nat gas futures sold off sharply following new weather reports that showed warmer than expected outlooks
Feb nat gas ultimately ended the day -7% at $2.21/MMBtu
Metals lost some steam today with the dollar index trading higher
Feb gold slipped a little, closing at $1059.60/oz and Mar silver closing -0.6% at $13.44/oz
Mar copper fell one cent to $2.13/lb

3:00 pm:

[BRIEFING.COM] As the market enters its last hour of trading, the Nasdaq (-0.5%) remains behind the S&P 500 (-0.4%) and the Dow Jones Industrial Average (-0.3%).

In the front of the pack, the utilities sector (+0.1%) sits atop the board. On the flipside, energy (-1.4%), materials (-1.0%), telecom services (-0.6%), consumer discretionary (-0.4%), and financials (-0.4%) round out the sectors. Including today's lackluster performances, consumer discretionary and technology are both up 1.0% this week, while energy boasts a loss of 2.5% during that same time.

Elsewhere, in the health care space (-0.1%) the sector has been held back by struggling biotechnology, evidenced by iShares Nasdaq Biotechnology ETF (IBB 341.72, -1.39) which outpaces the broader sectors decline by more than two to one.

In Treasuries, the benchmark note trades near its high with its yield unchanged at 2.30%.

2:30 pm:

[BRIEFING.COM] The tech-heavy Nasdaq (-0.4%) now paces the S&P 500 (-0.4%), with the benchmark index still in positive territory for the year (0.6%).

Only one sector shows movement above its flat line with utilities (+0.1%) demonstrating the only tangible advance thus far. On the flipside, energy (-1.2%) has extended its loss and is now near its daily low.

Meanwhile in the consumer discretionary space (-0.3%), the sector rests in the middle of the leaderboard, thanks in part to the largely flat day from large-cap component Amazon (AMZN 693.77, -0.20). Elsewhere in the group, Nike (NKE 63.40, -0.86) underperforms.

Elsewhere in commodities, WTI crude has slipped lower as it heads into the close of the pit session at 14:30 ET. Oil has given up 3.4% today, trading at $36.58/bbl.

2:00 pm:

[BRIEFING.COM] The major averages have moved off their session lows as the Dow Jones Industrial Average (-0.3%) outperforms the S&P 500 (-0.3%) and the Nasdaq (-0.4%).

Eight of ten sectors trade in the red with commodity-sensitive energy (-1.2%) and materials (-0.9%) showing the sharpest declines. On the other side of the leaderboard, countercyclical utilities (+0.1%), health care (UNCH), and consumer staples (UNCH) lead.

In the technology space (-0.3%), the high-beta chipmaker group continues to underperform the broader market evidenced by the PHLX Semiconductor Index, down 0.6%. Elsewhere, large-cap components Microsoft (MSFT 56.66, +0.11) and Alphabet (GOOGL 795.56, +1.60) outperform the sector and market with upticks of 0.2% apiece.

In currencies, the U.S. Dollar Index has steadily advanced for most of the session with the index up 0.2% at 98.33.

1:25 pm:

[BRIEFING.COM] Equity indices have marked new session lows with the S&P 500 now down 0.5% amid losses in all ten sectors.

The growth-sensitive energy space (-1.2%) has struggled from the start, but other cyclical sectors have not fared that much better. To that point, every other cyclical group trades in-line with or behind the broader market. For instance, the top-weighted technology sector (-0.5%) has kept pace with the S&P 500, but its largest component by weight, Apple (AAPL 107.52, -1.23), has surrendered 1.1%, which puts the stock to end the year lower by 2.6%.

Elsewhere, Treasuries remain in the neighborhood of their flat lines with the 10-yr yield pegged at 2.30% after bouncing between 2.30% and 2.33%.

1:05 pm:
Related Quotes

[BRIEFING.COM] The major averages trade near their lows at midday after stumbled at the start of the trading day. their day lower despite positive performances during yesterday's rally. The Nasdaq (-0.4%) has been exhibiting relative weakness thus far as the S&P 500 (-0.3%) and the Dow Jones Industrial (-0.3%) slightly outperform. The benchmark index has shown enough relative strength to remain positive year-to-date, with a yearly uptick of 0.6%.

Equity indices slumped this morning amid renewed selling in oil. Overnight, the American Petroleum Institute reported that crude stockpiles rose 2.9 million barrels versus last week's 3.6 million barrel draw. This was enough to push the commodity below the $37.00/bbl level before a similar report from the Energy Information Administration disclosed a build of 2.629 million barrels compared to an expected 2.457 million barrel draw. WTI crude currently trades lower by 3.6% at $36.51/bbl.

In sectors, utilities (UNCH), health care (-0.1%), and consumer staples (-0.1%) lead the pack, while energy (-1.1%), telecom services (-0.8%), and materials (-0.7%) trail. The remaining sectors show modest losses between 0.3% (technology) and 0.5% (consumer discretionary).

In the beleaguered energy sector, large-cap components Exxon Mobil (XOM 78.38, -0.78) and Chevron (CVX 90.19, -1.05) have kept pace with the sector. Elsewhere in the space, pipeline and equipment companies underperform with Kinder Morgan (KMI 14.75, -0.34) outpacing the losses in the broader sector nearly two to one. To be fair, though, pipeline and equipment companies are also feeling the recent 6.8% dip in natural gas that has the commodity trading at $2.21/MMbtu. Including today's decline, the energy sector is showing a 10.0% loss in December and a year-to-date drop of 23.5%.

In Treasuries, the benchmark note has traded near its low for most of the day with its yield unchanged at 2.31%.

It was a quiet day on the economic front with data being limited to November Pending Home Sales report, which showed a 0.9% decline (Briefing.com consensus +0.5%) in November that followed a revised increase of 0.4% from 0.2% in October.

12:30 pm:

[BRIEFING.COM] Afternoon action continues with the major indices hovering in the lower half of their trading ranges. The tech-heavy Nasdaq (-0.4%) narrowly trades behind the S&P 500 (-0.4%).

Looking at the monthly leaderboard, it is interesting to note that none of the six cyclical sectors show a positive performance in the month of December. On the other hand, all four of the countercyclical sectors have outperformed with consumer staples (+3.9%), utilities (+2.9%), health care (+2.9%) and telecom services (+2.8%).

Switching to today's leaderboard, telecom services (-0.8%), has been weighed down by large-cap component Verizon Communications (VZ 46.71, 0.50) which is posting a loss of 1.1% thus far today. Elsewhere in the sector, fellow large-cap AT&T (T 34.79, -0.14) outperforms the broader sector with a loss of only 0.4% on the day.

12:00 pm:

[BRIEFING.COM] The stock market hovers above its lows, as the Dow Jones Industrial Average (-0.3%) has narrowed its lead over the S&P 500 (-0.3%) and the Nasdaq (-0.4%).

Switching to sectors, energy (-1.0%), telecom services (-0.8%), and materials (-0.4%) trail, while consumer staples (-0.1%), health care (-0.1%), and industrials (-0.3%) lead.

In the energy sector, large-cap components Chevron (CVX 90.12, -1.13) and Exxon Mobil (XOM 78.55, -0.60) keep pace with the broader sector, while pipeline and equipment companies such as Kinder Morgan (KMI 14.64, -0.46) and Columbia Pipeline Group (CPGX 19.21, -0.56) underperform, with respective losses of 3.6% and 2.9%. On a related note, WTI crude has slipped 3.1% thus far today to $36.68/bbl, while natural gas has slid 7.0% to 2.21/MMbtu.

In Treasuries, the benchmark note trades near its low with its yield higher by one basis point to 2.31%.

11:25 am:

[BRIEFING.COM] The major indices have advanced from their session lows with the tech-heavy Nasdaq (-0.4%) trailing the S&P 500 (-0.3%).

Moving to sectors, energy (-0.8%) has managed to trim its loss at the back of the pack. At the top of the leaderboard, utilities (-0.1%), consumer staples (-0.1%), and financials (-0.2%) outperform. Today's trade shows narrow action, as most sectors trade between industrials (-0.2%) and health care (-0.3%).

In the technology space (-0.3%), large-cap component Apple (AAPL 107.84, -0.90) weighs on the sector with a decline of 0.8%. To be fair though, most components are seeing a pullback from yesterday's rally, with Facebook (FB 106.46, -0.79) and Intel (INTC 35.13, -0.30) sporting losses of 0.7% and 0.9%, respectively.

11:00 am:

[BRIEFING.COM] The major averages have lifted from their session lows, with the Dow Jones Industrial Average (-0.2%) slightly outperforming the S&P 500 (-0.3%) and the Nasdaq (-0.3%).

Moving to the leaderboard, energy (-1.1%) rounds out the sectors followed by telecom services (-0.6%), materials (-0.4%), and financials (-0.3%). On the flipside, utilities (-0.1%) tops the board while consumer staples (-0.2%) and industrials (-0.2%) follow.

Elsewhere, weekly Energy Information Administration Crude Inventories were reported at 10:30 ET that disclosed a build of 2.629 million barrels compared to the expected 2.457 million draw. In response to this, WTI crude moved to its session lows before it returned to the $36.73/bbl price level, down 3.0% today.

In Treasuries, the benchmark note is trading higher with its yield unchanged at 2.31% (+0bps).

10:35 am: [BRIEFING.COM]

The dollar traded slightly positive overnight, before seeing a modest lift in early trade-ahead of low-impact Nov. Home sales and on sentiment ahead of tomorrow's US unemployment data. Initial unemployment is expected at 270K (in line with the recent range of 260-282) while continuing claims are expected at 2.21 mln.
While relative strength in the Euro and Yen have kept the index in check, the dollar is currently holding gains at +0.2% to 98.39
WTI traded at strong losses this morning, after the API estimated yesterday, that inventories for the week ending Dec. 25 rose by 2.9 mln barrels.
Commentary from the Saudi Arabian Oil Minister Ali al-Naimi, stating that production stands ready to meet additional global demand, also exacerbated selling going into the morning's EIA storage data- which was expected to show a 1-2.5 mln barrel draw.
Upon release of the EIA report, which showed a 2.63 mln barrel build, the February contract continued to slide lower and is now -3.5% to $36.55/barrel
Natural gas is seeing a strong pullback from large gains made over the course of this past week, now -6.2% to $2.22/MMBtu
Precious metals are moderately negative so far this morning, with gold -0.8% to $1059.20/oz and silver -0.8% to $13.82/oz
Copper is modestly negative at -0.3% to $2.13/lb, with mixed market sentiment ahead of tomorrow evening's Chinese PMI figures.

10:00 am:

[BRIEFING.COM] The S&P 500 trades lower by 0.3% with nine of ten sectors in the red. Trailing the market, telecom services (-0.4%), technology (-0.4%), health care (-0.3%) and financials (-0.3%) round out the leaderboard.

Just reported, pending home sales for November decline 0.9% while the Briefing.com consensus expected an increase of 0.5%.

9:40 am:

[BRIEFING.COM] The major averages have opened beneath their flat lines with the Nasdaq (-0.2%) outperforming the S&P 500 (-0.3%) and the Dow Jones Industrial Average (-0.3%).

In sectors, nine of ten sectors have opened in the red with the commodity-sensitive energy (-0.5%) leading the losses. On the flipside, utilities (+0.1%) is at the head of the pack with health care (-0.1%), industrials (-0.2%), consumer discretionary (-0.2%), and consumer staples (-0.2%) following.

Switching to commodities, WTI crude is trading above its overnight low but cannot seem to gather enough momentum to approach the $37.00/bbl price level. Oil currently trades down 2.5% at $36.92/bbl.

Meanwhile in Treasuries, the benchmark note trades near its low with its yield higher by two basis point at 2.32%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -1.20.

The stock market is on track to open lower with S&P Futures trading three points below fair value. This downward pressure in futures parallels similar pressure in oil. WTI crude is down 2.6% at $36.89/bbl so far today.

In specific company news, Fairchild Semiconductor (FCS 20.60, +0.59) has managed to maintain its pre-market advance following news that the company received a revised acquisition offer from a Chinese bidder.

Elsewhere in commodities, natural gas has broken its recent winning streak as the energy component has slid 4.5% to 2.26/MMbtu thus far today.

Switching to Treasuries, the benchmark note trades near its low with its yield rising one basis point at 2.31%.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -0.90.

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

Asian markets had a mixed showing on Wednesday with Japan's Nikkei and China's Shanghai Composite both adding 0.3% while Hong Kong's Hang Seng lost 0.5%. The session was relatively quiet, but there was some news of note. Specifically, China's Finance Minister Lou Jiwei said that austerity is the best way to deal with slower government revenues, but it worth noting the comments were made as press reports suggested the country's budget deficit will rise to 3.0% of GDP in 2016. Elsewhere, Noble Corp, listed in Singapore, plummeted nearly 10.0% after Moody's lowered the commodity company's rating to junk.

Economic data was limited:
South Korea's November Industrial Production -2.1% month-over-month (expected -0.5%; previous -1.3%); -0.3% year-over-year (consensus 1.7%; last 1.7%). Separately, Retail Sales -1.1% month-over-month (previous 3.2%)

---Equity Markets---

Japan's Nikkei registered its third consecutive increase, climbing 0.3% with utilities (+1.4%) and consumer discretionary (+0.6%) sectors pacing the advance. The technology sector (+0.5%) also displayed strength with Toshiba, Pioneer, Sharp, and Casio rising between 2.0% and 7.7%. Elsewhere, Tokyo Electric Power added 1.0% while Sumitomo Dainippon Pharma, Mitsumi Electric, and Showa Denko lost between 1.4% and 4.2%.
Hong Kong's Hang Seng lost 0.5%, closing on a fresh low for the week. Energy names struggled with China Resources Power, China Shenhua Energy, Petrochina, and CNOOC losing between 0.9% and 3.0%. A handful of consumer and financial names outperformed with Li & Fung, Sino Land, and Bank of East Asia climbing between 0.4% and 1.0%.
China's Shanghai Composite gained 0.3% thanks to strength in basic materials and telecom names. Anhui Shanying Paper, Shandong Bohui Paper, and China United Network Communications rose between 1.8% and 10.1% while financials remained weak. Bank of China and Agricultural Bank of China both surrendered 0.3%

Major European indices trade lower across the board after yesterday's region-wide spike. Overall, though, trading action has been subdued with another extended weekend looming. Accordingly, the euro has respected a narrow range against the dollar with the pair currently trading near 1.0928.

Investors received several data points:
Eurozone November M3 Money Supply +5.1% year-over-year (expected 5.4%; previous 5.3%) and Private Sector Loans +1.4% year-over-year (consensus 1.3%; prior 1.2%)
UK's December Nationwide HPI +0.8% month-over-month (expected 0.5%; previous 0.1%); +4.5% year-over-year (consensus 3.8%; prior 3.7%)
Spain's December CPI -0.3% month-over-month (expected -0.1%; last 0.4%); 0.0% year-over-year (consensus 0.1%; prior -0.3%). Separately, October Current Account surplus expanded to EUR2.40 billion from EUR1.69 billion
Italy's November PPI -0.5% month-over-month (prior -0.2%); -3.3% year-over-year (last -3.0%)

---Equity Markets---

Germany's DAX is lower by 1.1% amid losses in all but four components. Adidas, Deutsche Telekom, Volkswagen, and BASF lead the retreat with losses between 1.0% and 1.6%. Deutsche Bank and Commerzbank are down 0.5% and 0.8%, respectively, while RWE outperforms, climbing 0.7%.
France's CAC has given up 0.4% with more than half of its components in the red. Financials, Credit Agricole, BNP Paribas, and Societe Generale are down between 0.2% and 0.9% while Technip trades down 1.0%. On the upside, ArcelorMittal has climbed 1.9%.
UK's FTSE trades lower by 0.7% with financials on the defensive. HSBC Holdings, Standard Chartered, and Royal Bank of Scotland are down between 1.3% and 1.6%. Burberry also lags, down 1.7%, while select miners have shown strength. Antofagasta and Fresnillo hold respective gains of 1.7% and 1.6%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: +0.30.

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

In corporate news, Southwest Airlines (LUV 44.45, +0.11) announced that the company reached a tentative agreement with Union Local 555, which constitutes 12,000 Southwest Ground Operations, Provisioning, and Cargo Agents.

Switching to commodities, oil has slipped overnight following an estimate from the American Petroleum Institute that weekly crude stocks rose 2.9 million barrels, compared to last weeks' 3.6 million barrel draw. WTI crude has declined 2.6% to $36.90/bbl.

8:00 am:

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

In Treasuries, the benchmark note currently sits near its pre-market high with its yield unchanged at 2.30%.

On the economic front, data will be limited to the 10:00 ET release of the Pending Home Sales report for November (Briefing.com consensus +0.5%). Also of note, the weekly MBA Mortgage Index will not be released today.

In U.S. corporate news of note:

Fairchild Semiconductor (FCS 20.60, +0.59):+3.0% after the company confirmed an unsolicited revised offer from a Chinese firm for $21.70/share
Pep Boys (PBY 18.39, -0.56): -3.0% on news that Bridgestone will not counter Carl Icahn's offer of $18.50/share
SunEdison (SUNE 5.25, +0.23): +4.6% after the company acquired a 33% interest in a 336 megawatt DC portfolio from Dominion for $180 million

Reviewing overnight developments:

Asian markets ended their day on a mixed note with Japan's Nikkei +0.3%, Hong Kong's Hang Seng -0.5%, and China's Shanghai Composite +0.3%.
Economic data was limited:
South Korea's November Industrial Production -2.1% month-over-month (expected -0.5%; previous -1.3%); -0.3% year-over-year (consensus 1.7%; last 1.7%). Separately, Retail Sales -1.1% month-over-month (previous 3.2%)
Economic news:
China's Finance Minister Lou Jiwei said that austerity is the best way to deal with slower government revenues, but it worth noting the comments were made as press reports suggested the country's budget deficit will rise to 3.0% of GDP in 2016
Noble Corp, listed in Singapore, plummeted nearly 10.0% after Moody's lowered the commodity company's rating to junk.

European indices trade lower across the board with Germany's DAX -0.8%, France's CAC -0.2%, and the U.K.'s FTSE -0.4%
Economic data:
Eurozone November M3 Money Supply +5.1% year-over-year (expected 5.4%; previous 5.3%) and Private Sector Loans +1.4% year-over-year (consensus 1.3%; prior 1.2%)
UK's December Nationwide HPI +0.8% month-over-month (expected 0.5%; previous 0.1%); +4.5% year-over-year (consensus 3.8%; prior 3.7%)
Spain's December CPI -0.3% month-over-month (expected -0.1%; last 0.4%); 0.0% year-over-year (consensus 0.1%; prior -0.3%). Separately, October Current Account surplus expanded to EUR2.40 billion from EUR1.69 billion
Italy's November PPI -0.5% month-over-month (prior -0.2%); -3.3% year-over-year (last -3.0%)
Economic news:
The euro has narrowed its range against the dollar with the pair trading near 1.0928

6:00 am: [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +2.60.

5:59 am: [BRIEFING.COM] Nikkei...19033.71...+51.50...+0.30%. Hang Seng...21882.15...-117.50...-0.50%.

5:59 am: [BRIEFING.COM] FTSE...6294.78...-19.80...-0.30%. DAX...10822.33...-37.80...-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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