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 Post subject: January 4th Monday Trade Results - Profit $7937.50
PostPosted: Mon Jan 04, 2016 7:18 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)

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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 @ $7937.50 dollars or +158.75 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $7937.50 dollars

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

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=152&t=2258

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=282&t=3016 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


4:15 pm: [BRIEFING.COM] The stock market ended its first session of 2016 broadly lower, following opening selling pressure that wouldn't ease until the last half hour of trading. The S&P 500 (-1.5%) finished ahead of the Dow Jones Industrial Average (-1.6%) and the Nasdaq (-2.1%), but the benchmark index fell below its 100-day moving average (2024). The major averages stumbled into the open after overseas concerns in China and the Middle East weighed down futures.

The selloff in futures began with weak economic data concerning manufacturing growth in China. Overnight, December's Caixin Manufacturing PMI was reported in at 48.2 versus an expected 48.9. This miss lead to heavy selling in the Shanghai Composite that eventually pushed the index lower by 6.9% before triggering a halt to trading under its circuit breaker provisions.

In the Middle East, Saudi Arabia suspended diplomatic relations with Iran following a protester-started fire at the Saudi Arabian embassy in Tehran. This unrest followed the execution of a Shiite cleric by the Saudi Arabian government over the weekend. The initial news caused an increase interest in oil, but the commodity was unable to maintain today's advance and WTI crude ended its pit session down 0.8% at $36.76/bbl.

Today's selling was paced by financials (-2.1%), health care (-1.9%), consumer discretionary (-1.8%), materials (-1.7%), and technology (-1.6%) while energy (-0.2%), utilities (-0.3%), and telecom services (-0.5%) outperformed

The financial sector showed relative weakness from the start of the trading session with large cap-components JPMorgan Chase (JPM 63.62, -1.97) and Wells Fargo (WFC 52.91, -1.45) each outpacing the losses in the broader sector with declines of 3.0% and 2.7% respectively.

Elsewhere, the top-weighted technology sector ended in line with the S&P 500 even though Apple (AAPL 105.35, +0.09) was able to rebound off its session low (102.00), ending higher by 0.1%. In other tech names, Alphabet (GOOGL 759.44, -18.57) was also able to pull off of its low, trimming its loss to 2.4%, while high-beta chipmakers outperformed the broader sector for most of the day. The PHLX Semiconductor Index ended the session lower by 1.1%.

In the consumer discretionary space, Amazon (AMZN 636.98, -38.91) ended its day near its low following a downgrade at Monness Crespi & Hardt from Buy to Netural. The downgraded cited continued strength in the company but a possibly better entry point to enter or expand a position in the company.

Today's selloff invited above average participation with more than a billion shares changing hands at the NYSE floor.

Meanwhile in Treasuries, the benchmark note spent the bulk of its day on its high before retreating. The yield on the 10-yr fell three basis points to 2.24%.

It was a relatively quiet day on the economic front with data being limited to the December ISM Index and Construction Spending:

The ISM Index for December declined to 48.2 from 48.6 (Briefing.com consensus 49.0)
Construction spending decreased to -0.4% month-over-month growth in November (Briefing.com consensus 0.8%).
This release was lower than expected and included a revision from 1.0% to 0.3% month-over-month growth in October.

Investors will not receive any economic data of note tomorrow.

Russell 2000 -2.3% YTD
Nasdaq -2.1% YTD
Dow Jones -1.6% YTD
S&P 500 -1.5% YTD

3:40 pm: [BRIEFING.COM]

Commodities displayed some decent volatility today following China's negative economic data
Also, the dollar index climbed higher during today's session, off overnight lows, which also helped weigh on commodities
Oil rallied this morning on news of Middle East tension, but this was short-lived and Feb crude never recovered back above $37
Feb crude oil ended today's session -0.9% at $36.81/barrel
In other energy, Feb nat gas slid 0.4% lower to $2.33/MMBtu
Copper fell today on China's econ data. Mar copper closed -2.8% at $2.08/lb
Feb gold closed today's session +15.80 at $1075.40/oz, while Mar silver gained +0.3% at $13.85/oz

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trading, the Nasdaq (-2.7%) trades behind the Dow Jones Industrial Average (-2.3%) and the S&P 500 (-2.2%).

On the bottom of the leaderboard, financials (-2.7%), health care, (-2.6%), consumer discretionary (-2.5%), and technology (-2.3%) trail. In the front of the pack, energy (-0.8%) utilities (-1.0%), and telecom services (-1.1%) pace one another for the lead.

In the consumer discretionary sector, Amazon (AMZN 630.00, -45.89) looks to end its day near its low along along with fellow large-cap component Starbucks (SBUX 57.72, -2.31). The pair are down 6.7% and 3.9% respectively.

Elsewhere, Smith & Wesson Holding (SWHC 23.43, +1.45) has been advancing all session on the news that President Obama met with the Attorney General regarding gun control measures and that expected new provisions will be announced on Tuesday.

In Treasuries, the benchmark note trades lower with the yield on the 10-yr note falling three basis points at 2.24%.

2:30 pm:

[BRIEFING.COM] The stock market hovers above its lows with the S&P 500 (-2.0%) leading the tech-heavy Nasdaq (-2.4%).

The Dow Jones Transportation Average keeps pace with the Dow Jones Industrial Average as both sport losses of 2.0% thus far today. Airlines are underperforming in the Transportation Average with Delta Airlines (DAL 48.50, -2.19) leading the losses with a decline of 4.3%. This price action follows a report that stated that the company's pilots union will push for raises of nearly 40% over the next three years. To be fair though, major competitors United Continental Holdings (UAL 55.37, -1.93) and Jetblue Airways (JBLU 21.81, -0.84) are also showing respective losses of 3.3% and 3.8%.

Switching to commodities, WTI crude has slipped below the $37.00/bbl price level again today. Currently, oil is trading lower by 1.3% at $36.56/bbl as we approach the end of the pit session at 14:30 ET.

In Treasuries, the benchmark note is trading off of its high with yield now lower by four basis points at 2.23%.

2:00 pm:

[BRIEFING.COM] As afternoon trading continues, the Nasdaq (-2.4%) trails the S&P 500 (-2.0%) and the Dow Jones Industrial Average (-2.0%).

On the bottom of the leaderboard, financials (-2.5%), health care (-2.2%), technology (-2.1%) and consumer discretionary (-2.0%) lead the downside.

In the technology space (-2.1%), large-cap component Apple (AAPL 104.60, -0.66) has advanced from its opening low (102.00) for most of the trading day. Elsewhere in technology,the high-beta chipmakers outperform the broader sector and market, evidenced by the PHLX Semiconductor Index limiting losses to 1.3% on the day. The index is being helped by component Skyworks (SWKS 77.80, +0.97), which has advanced 1.2%.

In commodities, WTI crude has narrowed its loss to 0.8% on the day at $36.77/bbl.

1:30 pm:

[BRIEFING.COM] The major U.S. indices remain under heavy pressure on 2016's first trading day. Off the worst levels of the day, the Dow Jones Industrial Average is still down 353 points today.

A look inside the Dow Jones Industrial Average shows that DuPont (DD 63.75, -2.85), JPMorgan (JPM 63.36, -2.23), and Travelers (TRV 109.06, -3.80) are underperforming amid broad market weakness.

Conversely, Wal-Mart (WMT 61.14, -0.16) is the best-performing Dow component as retail names display relative strength in today's session.

At current levels, the DJIA is starting 2016 off down 2.1%
Related Quotes

1:05 pm:

[BRIEFING.COM] Equity indices show substantial midday losses following sharp opening declines in all the major averages. Global growth concerns and tensions in the Middle East have been the focal points of today's decline, while economic data has also been disappointing. The stock market is trading near its session low with the S&P 500 (-2.3%) trading ahead of the Dow Jones Industrial (-2.4%) and the Nasdaq (-2.8%).

The new trading year has started on a sharply lower note following overseas action in Asia. The selloff began with weak economic data out of China, which included a disappointing December's Caixin Manufacturing PMI reading (48.2 versus an expected 48.9). This report was followed by a 6.9% plummet in the Shanghai Composite, which ended its day early due to a halt courtesy of circuit breaker provisions.

Elsewhere, tensions in the Middle East also weigh on the market, as Saudi Arabia suspended diplomatic relations with Iran overnight. This move followed protesters setting fire to the Saudi embassy in Tehran, after the execution of a Shiite cleric by the Saudi government. The initial news lead to an initial increased interest in oil, but the rally was unable to hold. WTI crude currently trades lower by 1.1% at $36.63/bbl.

The utilities sector (-0.6%) is on the top of the leaderboard, followed by telecom services (-1.0%), energy (-1.2%), and consumer staples (-1.7%). On the flipside, financials (-2.5%), health care (-2.4%), technology, (-2.3%), and consumer discretionary (-2.3%) trail. Interesting to note, three of the top four performers are countercyclical sectors with only health care behind the broader market.

In the financial space, large-cap components JP Morgan Chase (JPM 63.32, -2.27) and Wells Fargo (WFC 52.71, -1.65) weigh on the broader sector with losses of 3.4% and 3.0% respectively.

Elsewhere, it is interesting to note that some of the hardest hit stocks today were some of the best performers in 2015. Netflix (NFLX 107.90, -6.46) has slipped 5.6% on little news as Amazon (AMZN 640.65, -34.25) follows suit with a decline of 5.2%. To be fair though, other large-cap tech and discretionary names are being sold off as well, with Alphabet (GOOGL 759.00, -18.99), Facebook (FB 101.83, -2.82) and Disney (102.59, -2.47) each sporting losses between 2.4% and 2.7%

The early selling has been widespread with declining issues at the NYSE outpacing advancers by a 4:1 ratio.

Treasuries hold gains with the 10-yr yield down five basis points at 2.22%.

It was a relatively quiet day on the economic front with data being limited to the December ISM Index and Construction Spending. The ISM Index for December declined to 48.2 from 48.6 (Briefing.com consensus 49.0) Construction spending decreased to -0.4% month-over-month growth in November (Briefing.com consensus 0.8%). This release was lower than expected and also included a revision from 1.0% to 0.3% month-over-month growth in October.

12:30 pm:

[BRIEFING.COM] The stock market trades above its session lows as the S&P 500 (-2.3%) outperforms the tech-heavy Nasdaq (-2.8%).

All ten sectors trade in the red with utilities (-0.8%) leading the pack followed by telecom services (-1.2%), energy (-1.6%), and consumer staples (-1.9%) rounding out the top spots. Three of the top four performers today are countercyclical sectors, with only the countercylical health care (-2.5%) behind the market.

In the health care space, biotechnology appears to be weighing the sector down evidenced by iShares Nasdaq Biotechnology Index (IBB 326.75, -12.58) showing a decline of 3.7% on the day. Elsewhere in the sector, large-cap component AbbVie, Inc. (AABV 57.13, -2.11) underperforms the sector with a loss of 3.6%.

In currencies, the U.S. Dollar Index retreats from its high with the index up 0.3% at 98.95.

12:00 pm:

[BRIEFING.COM] As afternoon trading begins, the stock market hovers above its session low, with the Nasdaq (-2.6%) and the Dow Jones Industrial Average (-2.4%) trailing the S&P 500 (-2.2%).

The financial sector (-2.6%) is slightly underperforming the technology (-2.5%), health care (-2.5%), and consumer discretionary (-2.5%) on the bottom of the leaderboard.

Interesting to note, some of the hardest hit stocks today were some of the best performers in 2015, with Netflix (NFLX 107.10, -7.28) and Amazon (AMZN 641.20, -34.69) showing respective losses of 6.5% and 5.1% thus far today. To be fair though, other large-cap tech and discretionary names are being sold off as well, with Alphabet (GOOGL 756.07, -21.94), Facebook (FB 101.31, -3.35) and Disney (101.91, -3.31) each sporting losses between 2.9% and 3.1%

In Treasuries, the benchmark note trades near its highest level of the day with its yield lower by seven basis points at 2.20%.

11:30 am:

[BRIEFING.COM] The major indices remain near their lowest levels of the day with the Nasdaq (-3.0%) trailing the S&P 500 (-2.4%).

On the bottom of the leaderboard, financials (-2.9%) trails, as technology (-2.8%), consumer discretionary (-2.7%), materials (-2.5%), and health care (-2.4%) follow. Interesting to note, these are the five heaviest-weighted sectors in the S&P 500.

In the financial space, the sector is being anchored by large-cap components JP Morgan Chase (JPM 63.13 -2.55) and Wells Fargo (WFC 52.52 -1.82) which are posting respective losses of 3.8% and 3.4% thus far today.

Moving to currencies, the U.S. Dollar Index has risen steadily over the course of the morning and trades higher by 0.5% at 99.14.

Elsewhere in commodities, WTI crude continues to slip as oil trades 1.7% lower at $36.41/bbl.

11:00 am:

[BRIEFING.COM] The major indices trade near their session lows with the S&P 500 (-2.2%) narrowly ahead of the Dow Jones Industrial Average (-2.3%) and the tech-heavy Nasdaq (-2.8%).

On the leaderboard, energy (-1.2%), utilities (-1.2%), telecom services (-1.3%), and consumer staples (-1.9%) lead the pack while technology (-2.8%), financials (-2.8%), consumer discretionary (-2.5%) and materials (-2.5%) trail.

Looking in the energy sector, Dow large-cap Chevron (CVX 87.96, -1.01) underperforms the sector but trades in line with the broader index as the stock shows a loss of 2.3%. Meanwhile, pipeline companies are having some of the best performances of the day with Kinder Morgan (KMI, 15.02, +0.09) adding 0.3%. On a related note, WTI crude has slipped from its session high and now trades lower by 0.1% at $37.00/bbl.

In Treasuries, the benchmark note trades on its high with yield on the note lower by six basis points 2.21%.

10:00 am:

[BRIEFING.COM] The major indices hover near their session lows with the tech-heavy Nasdaq (-2.5%) trailing the S&P 500 (-2.0%).

Just released, the ISM Index for December indicated a decline to 48.2 from 48.6 while the Briefing.com consensus expected an uptick to 49.0.

Separately, construction spending decreased to -0.4% (Briefing.com consensus 0.8%) in November, with a revision from 1.0% to 0.3% month-over-month in October.

9:45 am:

[BRIEFING.COM] The stock market has opened sharply lower following heavy overseas pressure on U.S. equity futures. The S&P 500 (-1.9%) leads both the Dow Jones Industrial Average (-2.0%) and the Nasdaq (-2.3%).

All ten sectors opened their day in the red with financials (-2.5%), consumer discretionary (-2.4%), and technology (-2.3%) leading the losses. On the top of the leaderboard, energy (-0.2%), utilities (-1.1%), and telecom (-1.2%) lead.

In commodities, WTI crude has been able to hold advance since the open with oil trading higher by 2.3% at $37.89/bbl.

Meanwhile, in Treasuries, the benchmark note trades on its high, with yield on the 10-yr note lower by five basis points at 2.22%.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: -37.70. Nasdaq futures vs fair value: -101.20.

Index futures signal a sharply lower open as S&P 500 futures trade 38 points below fair value.

Today's action comes on the heels of China's Shanghai Composite surrendering 6.9% following weaker than expected PMI data. The heavy selling would end the Shanghai Composite's day early due to circuit breaker provisions, halting the index. Similar to Chinese stocks, the yuan retreated, sliding to fresh four-and-a-half year lows against the dollar. Geopolitical tensions in the Middle East are also weighing on the markets, as Saudi Arabia suspended diplomatic relations with Iran overnight. This move followed protesters setting fire to the country's embassy in Tehran, after the execution of a Shiite cleric.

In commodities, WTI crude is higher by 1.2% at $37.49/bbl following the situation in the Middle East. Elsewhere in commodities, copper has declined 2.4% to $2.08/lb.

Meanwhile in Treasuries, the benchmark note trades near its high with its yield lower by five basis points at 2.22%.

8:59 am: [BRIEFING.COM] S&P futures vs fair value: -36.50. Nasdaq futures vs fair value: -97.90.

The S&P 500 futures trade 37 points below fair value.

Markets across Asia greeted 2016 with a broad-based selloff that began in Japan and continued throughout the night after the release of disappointing PMI data from China. Accordingly, China's Shanghai Composite saw the biggest decline in the region, falling 6.9%. The aggressive selling led to a trading halt after the CSI 300 index briefly showed a 7.0% loss. Adding to the pressure was a disappointing Manufacturing PMI report from India (49.3; previous 50.3), which indicated contraction in manufacturing activities in the emerging economy.

Investors received several data points:
China's December Caixin Manufacturing PMI 48.2 (expected 49.0; previous 48.6), December Manufacturing PMI 49.7 (consensus 49.7; previous 49.6), and December Non-Manufacturing PMI 54.4 (prior 53.6)
South Korea's December trade surplus narrowed to KRW7.20 billion from KRW10.30 billion (expected surplus of KRW8.82 billion) as imports fell 19.2% year-over-year (consensus -18.6%) and exports declined 13.8% year-over-year (last -10.9%). Separately, December Nikkei Manufacturing PMI 50.7 (prior 49.1)
Japan's Manufacturing PMI 52.6 (expected 52.5; last 52.5) India's December Nikkei Markit Manufacturing PMI 49.1 (previous 50.3)
Hong Kong's November Retail Sales -7.8% year-over-year (consensus -6.4%; last -3.0%)
Singapore's Q4 GDP +2.0% year-over-year (consensus 1.3%; previous 1.8%)

---Equity Markets---

Japan's Nikkei lost 3.1%, dropping to levels from late October amid selling in all but seven names. Sumitomo Chemical, J. Front Retailing, SUMCO, Yamaha, Honda Motor, Okuma, and Fast Retailing lost between 4.5% and 5.1%. On the upside, Toshiba gained 2.0%.
Hong Kong's Hang Seng fell 2.9%, returning into the neighborhood of its December low. Every index component ended the day in negative territory with China Resources Power, China Overseas, China Life Insurance, Li & Fung, and Belle International surrendering between 5.0% and 5.8%. Energy names fared a bit better than the broader market with CNOOC and Petrochina both falling near 1.0%.
China's Shanghai Composite tumbled 6.9% amid heavy selling. Bank of China and Agricultural Bank of China both lost near 3.5% while CITIC Securities and China Shipbuilding Industry fell 9.8% and 7.3%, respectively.

Major European markets trade broadly lower with the cautious sentiment carrying over from Asia where China's Shanghai Composite welcomed 2016 with a 6.9% plunge on the heels of disappointing manufacturing data. Meanwhile, the data in Europe has been mostly better than expected, but that has not stopped investors from selling equities in volume.

In economic data:
Eurozone December Manufacturing PMI 53.2 (expected 53.1; previous 53.1)
Germany's December Manufacturing PMI 53.2 (consensus 53.0; last 53.0)
UK's December Manufacturing PMI 51.9 (expected 52.7; last 52.5) and Net Lending to Individuals GBP5.30 billion (expected GBP4.90 billion; previous GBP4.80 billion)
France's December Manufacturing PMI 51.4 (expected 51.6; last 51.6)
Italy's December Manufacturing PMI 55.6 (consensus 55.0; last 54.9)
Spain's December Manufacturing PMI 53.0 (expected 53.3; previous 53.1)
Swiss December SVME PMI 52.1 (expected 50.2; last 49.7)

---Equity Markets---

UK's FTSE has slid 2.3% with all but three components trading in the red. Miners and financials have paced the retreat with Anglo American, Glencore, Antofagasta, Standard Chartered, and Old Mutual down between 4.1% and 7.0%. On the upside, Randgold Resources has bucked the trend, trading higher by 2.0%.
France's CAC is lower by 3.2%, which puts the index near its December low. ArcelorMittal is the weakest performer, down 7.1%, while consumer names like L'Oreal, Louis Vuitton, Kering, and Carrefour show losses between 4.1% and 6.0%. On the upside, Bouygues has spiked 1.9% amid reports Orange may acquire the company's telecom unit.
Germany's DAX has plunged 4.1% with 29 of its 30 components showing losses of at least 3.0%. Deutsche Bank has sunk 5.5% while heavyweights BASF, Siemens, BMW, and Daimler are down between 4.5% and 5.0%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: -33.00. Nasdaq futures vs fair value: -87.90.

As pre-market trading enters its final hour, S&P futures are currently trading near their low at 33 points below fair value.

In Treasuries, the benchmark note trades near its high with its yield lower by five basis points at 2.22%.

In specific company news, both Amazon (AMZN 659.80, -16.09) and Netflix (NFLX 110.00, -4.38) are trading lower following downgrades at Monness Crespi & Hardt and Robert W. Baird, respectively. Amazon's downgrade moved the company from Buy to Neutral, and cited perceived strength in the company but a possible better entry point on the stock. Netflix was downgraded to Neutral from Outperform and voiced concerns over U.S. subscriber growth.

In commodities, WTI crude is higher by 1.8% at $37.70 following concerns regarding tensions between Saudi Arabia and Iran.

8:00 am:

[BRIEFING.COM] Global equities are starting the New Year on a negative note following a 6.9% decline in the Shanghai Composite. The index was closed early following circuit breaker limits provisions. Elsewhere, escalating tensions in the Middle East aren't helping investor sentiment, as diplomatic relations between Saudi Arabia and Iran were cut off last night following protesters lighting the Saudi Arabian embassy in Tehran on fire over the weekend. Volatility arose after Saudi Arabia executed a Shiite cleric.

U.S. equity futures trade near their pre-market lows with the S&P 500 futures currently 36 points below fair value.

In Treasuries, the benchmark note currently sits near its pre-market high with its yield lower by five basis points at 2.22%.

On the economic front, data will be limited to the 10:00 ET release of November Construction spending report (Briefing.com consensus 0.8%) and the December ISM Index (Briefing.com consensus 49.0).

In U.S. corporate news of note:

Tesla Motors (TSLA 230.59, -9.42): -3.9% after the company reported Q4 deliveries of 17,400 vehicles, matching the lower end of the company's guidance.
Fiat Chrysler (FCAU 9.13, -4.86): -34.8% on news that the separation of the Ferrari division of the business was competed on January 3rd.
Netflix (NFLX 109.18, -5.20) -4.6% after the company was downgraded at Robert W. Baird to Neutral from Outperform

Reviewing overnight developments:

Asian markets ended sharply lower with China's Shanghai Composite -6.9%, Japan's Nikkei -3.1%, and Hong Kong's Hang Seng -2.9%.
In economic data point:
China's December Caixin Manufacturing PMI 48.2 (expected 49.0; previous 48.6), December Manufacturing PMI 49.7 (consensus 49.7; previous 49.6), and December Non-Manufacturing PMI 54.4 (prior 53.6)
South Korea's December trade surplus narrowed to KRW7.20 billion from KRW10.30 billion (expected surplus of KRW8.82 billion) as imports fell 19.2% year-over-year (consensus -18.6%) and exports declined 13.8% year-over-year (last -10.9%). Separately, December Nikkei Manufacturing PMI 50.7 (prior 49.1)
Japan's Manufacturing PMI 52.6 (expected 52.5; last 52.5) India's December Nikkei Markit Manufacturing PMI 49.1 (previous 50.3)
Hong Kong's November Retail Sales -7.8% year-over-year (consensus -6.4%; last -3.0%)
Singapore's Q4 GDP +2.0% year-over-year (consensus 1.3%; previous 1.8%)
In news:
Trading in China was halted after the CSI 300 index briefly showed a 7.0% loss.

European indices trade broadly lower with Germany's DAX -4.1%, France's CAC -3.4%, and the U.K.'s FTSE -2.4%.
In economic data:
Eurozone December Manufacturing PMI 53.2 (expected 53.1; previous 53.1)
Germany's December Manufacturing PMI 53.2 (consensus 53.0; last 53.0)
UK's December Manufacturing PMI 51.9 (expected 52.7; last 52.5) and Net Lending to Individuals GBP5.30 billion (expected GBP4.90 billion; previous GBP4.80 billion)
France's December Manufacturing PMI 51.4 (expected 51.6; last 51.6)
Italy's December Manufacturing PMI 55.6 (consensus 55.0; last 54.9)
Spain's December Manufacturing PMI 53.0 (expected 53.3; previous 53.1)
Swiss December SVME PMI 52.1 (expected 50.2; last 49.7)
In news:
The euro has rallied 0.4% against the dollar to 1.0907 with the strength likely resulting from carry trade unwinds.

6:05 am: [BRIEFING.COM] Nikkei...18450.98...-582.70...-3.10%. Hang Seng...21327.12...-587.30...-2.70%.

6:05 am: [BRIEFING.COM] FTSE...6109.25...-133.10...-2.10%. DAX...10358.60...-384.40...-3.60%.

6:05 am: [BRIEFING.COM] S&P futures vs fair value: -30.00. Nasdaq futures vs fair value: -74.00.

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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