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 Post subject: January 5th Tuesday Trade Results - Profit $4375.00
PostPosted: Wed Jan 06, 2016 6:28 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 @ $4375.00 dollars or +87.50 points, Light Crude Oil CL ($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 @ $4375.00 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=152&t=2259

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


4:20 pm: [BRIEFING.COM] The stock market endured a shaky session on Tuesday with the S&P 500 trading inside a 16-point range. The benchmark index spent some time in negative territory, but settled within the upper-end of its trading range, adding 0.2%, while the Nasdaq Composite (-0.2%) underperformed throughout the entire day.

A defensive pre-market affair focused on the Asian session, during which the Shanghai Composite lost 0.3% despite a $20 billion infusion from the People's Bank of China through open market operations. Oil was able to muster an uptick that coincided with a rebound in European indices, but the energy component was unable to maintain that price level.

Equity indices at home began their day higher as the stock market looked to rebound from its poor start to 2016. This rally was short-lived, however, as continued pressure in oil would contribute to a choppy day for the major averages. WTI crude remained weak into the pit close, ending lower by 2.3% at $35.95/bbl.

The countercyclical sectors topped the leaderboard with telecom services (+1.0%), utilities (+0.8%), consumer staples (+0.7%) and health care (+0.6%) ending in the lead while technology (-0.4%), consumer discretionary (-0.2%), materials (UNCH), and industrials (+0.2%) rounded out the sectors.

Looking at health care, the sector was helped by large-cap constituents Bristol-Myers Squibb (BMY 68.35, +1.32) and Eli Lilly (LLY 84.11, +1.24) as the two posted respective gains of 2.0% and 1.5%. Interestingly, Eli Lilly rallied despite lowering its guidance for 2016. Elsewhere in the space, biotechnology underperformed evidenced by iShares Nasdaq Biotechnology ETF (IBB 326.96, +0.09). The ETF neared its 50-day average, hitting a high of 330.97, before retreating with the broader market after the open. The biotech ETF ended the day unchanged after being up 1.3% at the start.

In technology, Apple (AAPL 102.71, -2.64) plummeted 2.6% after Nikkei reported Apple is expected to reduce iPhone 6s and 6s Plus production by 30% in Q1. Elsewhere in the sector, the news weighed on high-beta chipmakers, sending the PHLX Semiconductor Index lower by 1.0%. The index was hurt by poor performances from Avago Technologies (AVGO 137.52, -4.76) and Skyworks Solutions (SWKS 73.29, -4.64) as the two declined 3.4% and 6.0%, respectively.

Treasuries traded near their highs during the retreat from the opening highs in the stock market, but the 10-yr note ended flat with its yield unchanged at 2.25%.

Today's participation was a bit below average as fewer than 850 million shares changed hands at the NYSE floor.

Investors did not receive any economic data of note today, but tomorrow the weekly MBA Mortgage Index will be released at 7:00 ET while the ADP Employment Change for December (Briefing.com consensus 190k) will cross the wires at 8:15 ET. The Trade Balance for November (Briefing.com consensus -$44.70 billion) will be released at 8:30 ET while Factory Orders for November (Briefing.com consensus -0.2%) and December ISM Services (Briefing.com consensus 56.4) will both be reported at 10:00 ET. The day's data will be topped off by the 14:00 ET release of the FOMC Minutes from the December policy meeting.

Nasdaq -2.3%
Russell 2000 -2.2%
Dow Jones -1.5%
S&P 500 -1.3%



3:40 pm: [BRIEFING.COM]

The dollar index continues to trade higher, which is helping weigh on commodities and commodity-related stocks
The dollar index is +0.5% at 99.40 in current activity
In energy, front-month Feb crude oil finished the day -2.3% at $35.95/barrel
In other energy, Feb natural gas futures closed -0.4% at $2.32/MMBtu, but is now back at the unchanged line
Feb gold gained $2.80 to $1078.30/oz today, while Mar silver rose 0.9% at $13.98/oz
Copper held gains, closing the session +1%.

3:00 pm:

[BRIEFING.COM] As the market enters its last hour of trading, the major averages trade off of their highs but remains in the upper half of their trading ranges. The S&P 500 (+0.2%) leads the Dow Jones Industrial Average (UNCH) and the Nasdaq (-0.1%).

In front of the pack, the countercyclicals lead with telecom services (+0.8%), consumer staples (+0.7%), utilities (0.7%), and health care (+0.6%) ahead. On the flipside, technology (-0.2%), materials (-0.1%) and consumer discretionary (-0.1%) trail.

In the heavily-weighted technology sector, large-cap Apple (AAPL 102.96, -2.39) trades above its session low but posts a decline of 2.3% thus far today. Elsewhere, the high-beta chipmakers show relative weakness, evidenced by the loss of 1.0% in the PHLX Semiconductor Index.

In currencies, the U.S. Dollar Index has advanced 0.5% to trade at 99.39.

2:30 pm:

[BRIEFING.COM] The major indices have rallied to near session highs with the S&P 500 (+0.4%) leading the tech-heavy Nasdaq (+0.2%).

All ten sectors have entered positive territory. On the top of the leaderboard, telecom services (+1.0%), consumer staples (+0.9), health care (+0.9%), utilities (+0.6%), energy (+0.5%), financials (+0.3%) , and industrials (+0.3%) lead. It is interesting to note, that while energy has rallied with the rest of the market, energy-component WTI crude looks to end its day near its low, down 2.1% at $35.98/bbl.

In the energy space, large-cap components Exxon Mobil (XOM 78.00 +0.54) and Chevron (CVX 89.59, +0.74) have outpaced the gains of the energy sector with gains of 0.7% and 0.8% respectively. Elsewhere in the sector Kinder Morgan (KMI 15.41, 0.14) has rallied 1.0%.

In Treasuries, the benchmark note trades near its low with its yield unchanged at 2.24%.

2:00 pm:

[BRIEFING.COM] As afternoon trading continues, the Dow JonesIndustrial Average (-0.1%) trails the tech-heavy Nasdaq (UNCH) and the S&P500 (+0.2%). All three indices have pulled from their lows to within striking distance of their flat lines.

On the top of the leaderboard financials (+0.3%) and industrials (UNCH) have joined the countercyclical sectors in positive territory. On the flipside, energy (-0.3%), consumer discretionary (-0.2%), materials (-0.1%), and technology (-0.1%) trail.

In the financial sector, Simon Property Group (SPG 196.03, +3.69) is trading higher by 2.0% as relative strength emerges in real estate investment trusts. Elsewhere in the financial sector, large-caps JPMorgan Chase (JPM 63.54, -0.08) and Bank of America (16.42, -0.02) have lifted from their session lows to trade down 0.1% apiece.

In commodities, WTI crude is trading down 2.0% today at $36.00/bbl as we approach the end of the commodities pit session at 14:30 ET.

1:30 pm:

[BRIEFING.COM] The major averages remain in negative territory after stumbling to lows during early afternoon action. The S&P 500 is lower by 0.2% while the Nasdaq Composite (-0.4%) underperforms.

Broadly speaking, today's retreat has been fueled by cyclical sectors while countercyclical groups have held up well. To that point, the six cyclical groups are down between 0.2% (financials) and 0.8% (energy) while all four countercyclical sectors hold gains. This includes the health care space (+0.2%), which remains above its flat line even though biotechnology has backed away from its intraday high. The iShares Nasdaq Biotechnology ETF (IBB 326.71, -0.16) is flat showing a 1.3% gain in late morning action. It is worth noting that the ETF notched its session high just below its 50-day moving average (331).

1:10 pm:

[BRIEFING.COM] The stock market trades lower with the major indices near their worst levels of the day. The averages have slipped as oil concerns and global growth worries continue to weigh on equities. The Dow Jones Industrial Average (-0.5%) trails the Nasdaq (-0.5%) and the S&P 500 (-0.3%).
Related Quotes

Overnight, Asian markets struggled to rebound as the Shanghai Composite bounced between a 3.2% loss and a 1.0% gain. Eventually, the index ended its day down 0.3% despite the People's Bank of China injecting $20 billion in cash through open market operations. The lack of rebound in Asia pressured European indices in the early going, but a brief uptick in oil coincided with buying interest in Europe. Oil was not able to maintain this price level though and has since slipped to near session lows, down 1.6% at $36.17/bbl.

With oil under pressure, the energy sector (-0.7%) is the weakest performer while consumer discretionary (-0.6%), technology (-0.5%), and materials (-0.5%) trade a bit ahead. Conversely, the countercyclical sectors trade in the green with consumer staples (+0.4%), health care (+0.3%), telecom services (+0.3%), and utilities (+0.3%) ahead of the pack.

In the consumer discretionary sector, large-cap constituent Amazon (AMZN 631.87, -6.10) has been struggling despite announcing 40% year-over-year growth in items sold by Amazon on Cyber Monday. The company has declined 1.0% so far today. Elsewhere in the sector, Dow component Disney (DIS 100.53, -2.45) continues to struggle as it surrenders 2.4% this session.

Switching to health care, the sector has been helped by a strong performance from Eli Lilly (LLY 83.99, +1.11) as the stock trades higher by 1.3% despite below-consensus guidance for 2016. Biotechnology meanwhile has retraced its early strength with iShares Nasdaq Biotechnology ETF (IBB 325.75, -1.12) lower by 0.3%.

In technology, Apple (AAPL 103.28, -2.08) has plummeted 2.0% after Nikkei reported Apple is expected to reduce iPhone 6s and 6s Plus production by 30% in Q1.

Moving to Treasuries, the benchmark note has traded higher recently with the yield on the note dropping one basis point at 2.23%.

12:30 pm:

[BRIEFING.COM] The major averages hover near their session lows with the tech-heavy Nasdaq (-0.5%) trailing the S&P 500 (-0.3%).

On the leaderboard, energy (-1.0%), consumer discretionary (-0.7%), technology (-0.6%) materials (-0.6%), and industrials (-0.5%) lead the downside. In the front of the pack, countercyclical consumer staples (+0.3%), health care (+0.3%), utilities (+0.2%), and telecom service (+0.1%) outperform.

In technology, Apple (AAPL 103.18, -2.16) has seen increased selling pressure after Nikkei released an article that reported that the company is expected to reduce iPhone 6s and 6s Plus output by around 30% in January-March. The company is down 1.8% today. Elsewhere, Fitbit (FIT 25.90, -3.85) has declined 13.0% after unveiling its Fitbit Blaze watch at CES.

In commodities, WTI crude is trading near its session low with oil declining 1.5% at $36.20/bbl.

11:55 am:

[BRIEFING.COM] As afternoon trading begins, the Dow Jones Industrial Average (-0.3%) underperforms both the Nasdaq (-0.1%) and the S&P 500 (UNCH).

In sectors, none of the cyclical sectors are trading in positive territory as consumer staples (+0.5%), health care (+0.5%), telecom service (+0.2%) and utilities (UNCH) lead. On the flipside, energy (-0.5%), consumer discretionary (-0.4%), and materials (-0.4%) lead the downside.

Elsewhere in technology (-0.1%), Apple (AAPL 104.09, -1.26) has declined 1.3% thus far today and looks to be anchoring the mostly flat performances from the rest of the sector. The high-beta chipmakers keep pace with the broader sector evidenced by a decline of 0.1% in the PHLX Semiconductor Index.

In Treasuries, the benchmark note trade higher with the yield on the 10-yr note lower by one basis point at 2.23%.

11:30 am:

[BRIEFING.COM] The major indices hover beneath their flat lines as the tech-heavy Nasdaq (UNCH) and S&P 500 (UNCH) pace one another.

Seven of ten sectors show losses thus far today with energy (-0.4%) leading the downside followed by materials (-0.4%), industrials (-0.4%),and consumer discretionary (-0.3%). On the top of the leaderboard, countercylical sectors health care (+0.7%), consumer staples (+0.4%), and telecom services (UNCH) lead.

Looking at discount retailers Wal-Mart (WMT 62.46, +1.00) and Target (TGT 74.40, +0.85) are having strong sessions with both companies trading higher by 1.6% and 1.1% respectively.

Elsewhere in the consumer discretionary space, sector large-cap Disney (DIS 101.18, -1.80) and Netflix (NFLX 107.90, -2.04) continue to struggle with respective losses of 1.8% and 1.9%.

Switching to commodities, WTI crude is approaching session lows with oil trading lower by 1.4% at $36.23/bbl.

11:00 am:

[BRIEFING.COM] The major indices have recovered from their slip off of opening highs, and trade in the upper half of their trading ranges. The Dow Jones Industrial Average (UNCH) trails the S&P 500 (+0.2%) and the Nasdaq (+0.3%).

Three sectors trade lower with energy (-0.5%), consumer discretionary (-0.2%),and utilities (UNCH) leading the downside. On the top of the leaderboard, health care (+0.9%), consumer staples (+0.5%), and technology (+0.3%) lead.

In the health care space, Eli Lilly (LLY 84.77, +1.90) is trading higher by 2.3% as participants focus on the company's reaffirmed guidance for fiscal year 2015 ($3.40-3.45) which fell in line with consensus expectations. However, the drug maker has lowered its 2016 guidance below analyst estimates. Elsewhere in health care, biotechnology slightly outperforms, evidenced by iShares Nasdaq Biotechnology ETF (330.16, +3.29) extending its gain to 1.0%.

In Treasuries, the benchmark note trades near its low with its yield higher by one basis point at 2.25%.

10:40 am: [BRIEFING.COM]

Commodities are lower in morning trade, while the dollar index continues to climb higher (now +0.7%)
Commodities, as measured by the Bloomberg Commodity Index, are currently trading -0.3%
Overnight, the BDI released slid 5 points to hit a new all-time low of 468. Today's action in the BDI was driven by the losses in capesize and supramax rates
WTI crude oil sold off this morning, falling back below $37 area and to a new LoD in recent trade
Feb crude oil is now -1.8% at $36.11/barrel
In other energy, Febn natural gas is -2.4% at $2.28/MMBtu
Mar copper is recovering some, now +0.4% at $2.09/lb, while precious metals are showing gains as well
Feb gold is now +0.1% at $1076.60/oz, while Mar silver is +0.8% at $13.95/oz

9:55 am:

[BRIEFING.COM] The major averages trade below their opening highs as all three hover above their flat lines. The S&P 500 (+0.1%) paces the Nasdaq (+0.1%) while the Dow Jones Industrial Average (UNCH) trails.

Four sectors remain in positive territory as utilities (-1.3%), energy (-0.7%), and materials (-0.5%) round out the leaderboard. On the top of the board, health care (+0.9%) and consumer staples (+0.5%) lead.

In Treasuries, the benchmark note trade on its low with yield higher by one basis point at 2.25%.

9:45 am:

[BRIEFING.COM] The major indices have all opened above their flat lines with the the S&P 500 (+0.4%) outpacing the Nasdaq (+0.3%) and Dow Jones Industrial Average (+0.2%).

Eight of ten sectors have opened in the green with health care (+0.7%) and consumer staples (+0.7%) leading the pack, while financials (+0.6%) and technology (+0.4%) follow. On the flipside, utilities (-0.8%) and energy (-0.2%) round out the bottom of the leaderboard.

In Treasuries, the benchmark note trades on its low with yield rising one basis point at 2.26%.

Meanwhile in commodities, WTI crude has been able to trim its loss to 0.9% at $36.40/bbl.

9:15 am:

[BRIEFING.COM] The stock market is on track for a flat open with S&P 500 futures trading two points above fair value after climbing off their pre-market lows.

Overnight, equity markets in Asia struggled to rebound as the Shanghai Composite traded between a 3.2% loss and a brief 1.0% gain. The index ended its session down 0.3% despite the People's Bank of China injecting 130 billion yuan or roughly 20 billion dollars in cash through open market operations.

Switching to company news, Smith & Wesson (SWHC 25.05, +1.77) is trading higher by 7.6% after the company raised guidance on Q3 from $0.27-0.29 to $0.39-0.41 and FY 2016 from $1.26-1.31 to $1.36-1.41. The company is also receiving a boost ahead of President Obama's announcement of executive action regarding stricter licensing requirements and expanded background checks for firearms.

Meanwhile in commodities, WTI crude saw a brief move into positive territory before the commodity returned its advance and dropped steadily. Oil trades lower by 1.1% at $36.32/bbl.

In Treasuries, the benchmark note trades off of its high with yield on the 10-yr note lower by one basis point at 2.24%.

9:00 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +6.00.

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

Markets in the Asia-Pacific region tried to rebound from Monday's trouncing, but the efforts were futile as most regional indices ended the day in negative territory. For instance, China's Shanghai Composite (-0.3%) swung from a 3.2% loss to a brief 1.0% gain before ending the day with a slim decline. Similarly, Japan's Nikkei (-0.4%) also showed an intraday gain, which was retraced fully into the close. The market backed away from its high even though Bank of Japan Governor Haruhiko Kuroda said the central bank is ready to take "even bolder steps" to meet the 2.0% inflation target. The yen, however, has strengthened, pressuring the dollar/yen pair to 118.93.

Economic data was limited:
Japan's Monetary Base +29.5% year-over-year (consensus 33.2%; previous 32.5%)
South Korea's November Current Account surplus narrowed to KRW6.75 billion from KRW7.35 billion

---Equity Markets---

Japan's Nikkei lost 0.4%, ending just above its session low. Most sectors finished in the red with consumer staples (-1.0%), health care (-1.0%), and industrials (-0.8%) leading the retreat while defensively-oriented communications (+0.3%) and utilities (+0.6%) outperformed. Toshiba, Pioneer, Isuzu Motors, Mazda Motor, Furukawa, and Honda Motor fell between 1.9% and 3.8%. On the upside, Advantest, Tokyo Dome, Nippon Soda, and Keisei Electric Railway climbed between 1.4% and 2.6%.
Hong Kong's Hang Seng fell 0.7%, nearing its December low. China Mobile, Bank of Communications, and China Unicom Hong Kong surrendered between 1.5% and 2.5%. Meanwhile, energy names were mixed with Petrochina falling 1.4% while CNOOC and China Petroleum & Chemical both gained near 0.3%.
China's Shanghai Composite could not forge a sustained rebound, surrendering 0.3%. Despite the overall decline, some strength could be found in financial and shipping names. China Shipbuilding spiked 7.1% while Agricultural Bank of China, CITIC Securities, and Industrial & Commercial Bank advanced between 0.5% and 1.3%.

Major European trade mostly higher with the UK's FTSE (+0.7%) and Italy's MIB (+0.8%) outperforming. For its part, the euro has retreated about 0.7% against the dollar to 1.0747. Elsewhere, the political situation in Spain remains uncertain as Prime Minister Mariano Rajoy continues looking for ways to remain at the head of government.

In economic data:
Eurozone December CPI +0.2% year-over-year (expected 0.3%; previous 0.2%) and Core CPI +0.9% year-over-year (consensus 1.0%; last 0.9%)
Germany's December Unemployment Change -14,000 (expected -6,000; previous -14,000) and December Unemployment Rate held at 6.3%, as expected
UK's December Construction PMI 57.8 (expected 56.0; last 55.3)
Spain's Unemployment Change -55,800 (expected -52,600; previous -27,100)
Italy's December CPI 0.0% month-over-month (expected 0.1%; last -0.4%); +0.1% year-over-year (consensus 0.2%; last 0.1%)

---Equity Markets---

UK's FTSE is higher by 0.7% with roughly 60% of its components in the green. Miners and consumer names outperform with the likes of Glencore, Fresnillo, TUI, and Tesco up between 1.7% and 2.6%. On the downside, financials Aberdeen Asset Management, Standard Chartered, and Old Mutual show losses between 1.4% and 4.2%.
France's CAC has gained 0.5%. Technip traded well behind its peers in the early session, down 5.4%, while financials are mixed. BNP Paribas and Credit Agricole hold respective gains of 0.4% and 0.1% while Societe Generale and AXA are down 0.1% and 1.2%, respectively.
Germany's DAX trades higher by 0.4%, despite one point in their session when 2/3 of its components were in the red. Volkswagen tumbled as much as 6.6% while BMW, Adidas, BASF, and Commerzbank show losses between 0.4% and 1.2%. On the upside, Fresenius has climbed 3.5% while Deutsche Bank trades up 1.1%.

8:25 am:

[BRIEFING.COM] As pre-market trading continues, S&P 500 futures are currently trading above their low at one point below fair value.

In specific company news, Fairchild Semiconductor (FCS 21.21, +0.74) is trading higher by 3.6% on the news that the company's board designated the offer from China Resources Microelectronics and HUA Capital Management a superior proposal, as defined by the company's agreement and Plan of Merger with ON Semiconductor. The revised unsolicited offer proposes that the company be acquired for $21.70 a share.

Moving to Treasuries, the benchmark note sits near its high with its yield lower by one basis point at 2.24%.

Meanwhile in commodities, WTI crude has moved off of its pre-market low and into positive territory. Oil is trading higher by 0.2% at $36.83/bbl

8:00 am:

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

In Treasuries, the benchmark note sits near its overnight high with its yield lower by one basis point at 2.23%.

It's a quiet day on the economic front with Auto and Truck sales being released throughout the day.

In U.S. corporate news of note:

Eli Lilly (LLY 81.02, -1.85): -2.2% following the company issuing 2016 FY guidance below expectations, EPS of $3.45-3.55 versus a consensus of $3.64.
DuPont (DD 61.83, -1.24): is lower by 2.0% after the company was downgraded from Buy to Neutral at Citigroup.
Smith & Wesson (SWHC 24.56, +1.28): +5.5% after the company raised guidance for Q3 from $0.27-0.29 to $0.39-0.41 and FY 2016 from $1.26-1.31 to $1.36-1.41, additionally the stock is responding to the preliminary announcement that President Obama will be expanding background checks and licensing requirements for firearms.

Reviewing overnight developments:

Asian markets ended broadly lower with Hong Kong's Hang Seng -0.7%, Japan's Nikkei -0.4%, and China's Shanghai Composite -0.3%.
Economic data:
Japan's Monetary Base +29.5% year-over-year (consensus 33.2%; previous 32.5%)
South Korea's November Current Account surplus narrowed to KRW6.75 billion from KRW7.35 billion
Economic news:
Bank of Japan Governor Haruhiko Kuroda said the central bank is ready to take "even bolder steps" to meet the 2.0% inflation target.

European markets traded mostly lower with Germany's DAX -0.3%, France's CAC -0.1%, and the U.K.'s FTSE +0.3%. Elsewhere, Italy MIB +0.6% and Spain's IBEX +0.4%.
Economic data:
Eurozone December CPI +0.2% year-over-year (expected 0.3%; previous 0.2%) and Core CPI +0.9% year-over-year (consensus 1.0%; last 0.9%)
Germany's December Unemployment Change -14,000 (expected -6,000; previous -14,000) and December Unemployment Rate held at 6.3%, as expected
UK's December Construction PMI 57.8 (expected 56.0; last 55.3)
Spain's Unemployment Change -55,800 (expected -52,600; previous -27,100)
Italy's December CPI 0.0% month-over-month (expected 0.1%; last -0.4%); +0.1% year-over-year (consensus 0.2%; last 0.1%)
Economic news:
Spain's political situation remains uncertain as Prime Minister Mariano Rajoy continues to look for ways to remain the head of the government.

6:08 am: [BRIEFING.COM] S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -17.00.

6:07 am: [BRIEFING.COM] Nikkei...18374...-77.00...-0.40%. Hang Seng...21189...-138.40...-0.70%.

6:07 am: [BRIEFING.COM] FTSE...6093.81...+0.40...+0.00%. DAX...10216....-67.40...-0.70%.

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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