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 Post subject: January 8th Friday Trade Results - Profit $15375.00
PostPosted: Fri Jan 08, 2016 6:37 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 @ $15375.00 dollars or +307.50 points, Light Crude Oil CL ($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 @ $15375.00 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=2262

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 major indices ended their day under heavy selling pressure as the market was rebuffed on its muted rebound effort. Sliding oil prices, global growth concerns, and the future path of the federal funds rate remained in focus as investors appeared less than willing to buy into current market conditions. The S&P 500 (-1.1%) ended its session behind both the Dow Jones Industrial Average (-1.0%) and the tech-heavy Nasdaq (-1.0%). Including today's trade, the benchmark index has surrendered 6.0% to begin the year whereas the Nasdaq has tumbled 7.3%.

Overseas action was hallmarked by restrained trading ahead of the U.S. Employment Situation Report. Futures jumped to pre-market highs following the announcement that nonfarm payrolls increased by 292k (Briefing.com consensus 200,000), but this would prove short-lived, as the rest of the report was digested by the market. Issues regarding flat wage growth (Briefing.com consensus 0.2%) and a static 9.9% U6 unemployment rate (which accounts for the unemployed, underemployed, and marginally attached workers) dulled the effects of the initial positive number.

The major averages gapped up to begin their day but were unable to find support at those prices levels. The market retreated from its early high alongside a drop in oil prices. Stocks were able to find some traction near mid-morning lows which resulted in a rally into positive territory. This rally matched a similar move in crude, but the commodity was no better at holding those price levels as the markets was at holding its advance. WTI crude ended its pit session down 0.3% at $33.16/bbl. For the week, the energy component surrendered 10.0%.

On the leaderboard, financials (-1.6%), health care (-1.4%), energy (-1.3%), and consumer discretionary (-1.1%) rounded out the sectors while utilities (UNCH), telecom services (-0.5%), consumer staples (-0.8%), and technology (-0.8%) lead the pack.

The health care space was the only countercyclical sector that could not finish near the top of the leaderboard. In the sector, biotechnology showed relative weakness, with the industry group finishing behind the the broader sector. This was evidenced by the iShare Nasdaq Biotechnology ETF (IBB 302.20, -5.58) closing out its session lower by 1.8%. Elsewhere in the space, sector large-cap AbbVie (ABBV 55.65, -1.56) underperformed with a decline of 2.7%.

In the technology space, investors sought out the large-cap names Apple (AAPL 96.96, +0.51), Facebook (FB 97.33, -0.59), and Microsoft (MSFT 52.33, +0.16). The three were some of the top-performers in the sector with respective performances of +0.5%, -0.6%, and +0.3%. Elsewhere, the high-beta chip makers struggled, evidenced by the PHLX Semiconductor Index sliding 1.6%.

In Treasuries, the benchmark note ended its day on its high with the 10-yr yield falling four basis points to 2.11%.

Investor participation was well above average with more than a billion shares trading hands at the NYSE floor.

Economic data included Nonfarm Payrolls for December, whole sale inventories for November, and the Consumer Credit Report for November.

December nonfarm payrolls increased by 292,000 (Briefing.com consensus 200,000)
November nonfarm payrolls were revised to 252,000 from 211,000
October nonfarm payrolls were revised to 307,000 from 298,000
Private sector payrolls increased by 275,000 (Briefing.com consensus 194,000)
November private sector payrolls were revised to 240,000 from 197,000
October private sector payrolls were revised to 312,000 from 304,000
The Unemployment rate was 5.0% (Briefing.com consensus 5.0%) versus 5.0% in November
The U6 unemployment rate, which accounts for the total unemployed plus persons marginally attached to the labor force and the underemployed, was unchanged at 9.9%
Average hourly earnings were flat (Briefing.com consensus 0.2%) after increasing 0.2% in November
The average workweek was 34.5 hours (Briefing.com consensus 34.5) versus 34.5 hours in November
The labor force participation rate was 62.6% versus 62.5% in November
November Wholesale Inventories fell 0.3% while the Briefing.com consensus expected a decreased of 0.1%
Today's report followed last month's revised decrease of 0.3% (from -0.1%).
The inventories/sales ratio increased to 1.32 from 1.31 in October.
November consumer credit showed an increased of $13.95 billion (Briefing.com consensus $18.50 billion)
Prior months growth was revised down to $15.61 billion from $15.98 billion.

Investors will not receive any economic data of note on Monday.

Russell 2000 -7.8% YTD
Nasdaq -7.3% YTD
Dow Jones Industrial Average -6.2% YTD
S&P 500 -6.0% YTD

Week in Review: Global Equities Greet 2016 with Synchronized Dive

The first week of 2016 was not particularly kind to the stock market as global equity indices careened lower to begin the New Year. The S&P 500 tumbled 4.9% through Thursday, representing the worst four-day start to the year in the history of the index. Things did not improve much on Friday as stocks surrendered their opening gains, going out on their lows with the S&P 500 falling 6.0% for the week while the Nasdaq (-7.3%) underperformed.

While the S&P 500 clearly struggled to start the year, other global equity markets had an even more difficult time as China's CSI 300 index plunged 9.9% during a week that featured two early closures after the index declined 7.0%, tripping its circuit breakers. The second instance took place on Thursday, ending the session before the opening hour was up. As a result, Chinese officials removed the circuit breaker mechanism after implementing it at the beginning of the week.

The volatility in Chinese (and global) equities occurred as the People's Bank of China took almost daily steps to devalue the yuan with Thursday's move pushing the currency to a five-year low against the dollar at 6.5646. On Thursday afternoon, Reuters reported that PBoC advisers have voiced support for devaluing the yuan by as much as 15.0% against the dollar, which added to the worries that deflationary pressures may be exported from China to other economies.

The resulting growth concerns manifested themselves through continued weakness in oil prices as WTI crude surrendered 10.8% for the week, settling at its lowest level since December 2008. To be fair, there was a pocket of strength in the commodity space as gold futures rallied 3.5% to $1,097.50/ozt.

Back in the U.S., the Friday session saw a morning rebound after the December Employment Situation report (292K; Briefing.com consensus 200K) beat estimates, but the headline reading masked the lack of wage growth in December (Briefing.com consensus +0.2%). The combination of strong headline payroll growth and nonexistent wage growth gave market participants some hope that the Federal Reserve's rate hike path may be even more gradual than first thought; however, San Francisco Fed President John Williams appeared on CNBC in the early afternoon, suggesting that four rate hikes in 2016 may still be appropriate. Mr. Williams is not a voting member this year, but the market retreated after his comments nonetheless.

All ten sectors ended the first week of 2016 in the red. The utilities sector shed just 0.4% while other countercyclical groups like consumer staples, telecom services, and health care posted respective weekly losses of 2.9%, 3.0%, and 5.6%. On the cyclical side, energy and materials lost 6.8% and 7.8%, respectively, while the consumer discretionary sector outperformed, falling 5.9%.

3:40 pm: [BRIEFING.COM]

The dollar index remained in positive territory today, although pulled back from its earlier higher. Its now +0.2%
Natural gas climbed higher today, finishing up today's session +4.2% at $2.48/MMBtu, currently still at today's high
WTI crude oil, on the other hand, lost steam from overnight prices and fell back near the $33 area today
Feb crude ended floor trading -0.4% at $33.16/barrel
Precious metals remained in the red all day. Feb gold finished -$10.40 at $1097.50/oz, while Mar silver slid 3% to $13.91/oz
Copper lost one cent today to end at $2.01/lb

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour, the major averages trade in the lower half of their daily ranges. The tech-heavy Nasdaq (-0.2%) leads the S&P 500 (-0.2%). Including today's performance, the indices have lost a respective 6.5% and 5.3% this week.

The Consumer Credit report for November was just released by the Federal Reserve and it showed an increase of $13.95 billion while the Briefing.com consensus expected growth of $18.50 billion. The prior month's credit growth was revised down to $15.61 billion from $15.98 billion.

In Treasuries, the benchmark note trades near its high with its yield lower by two basis points at 2.13%.

2:35 pm:

[BRIEFING.COM] The major averages have all returned to negative territory with the S&P 500 (-0.4%) trailing the Dow Jones Industrial Average (-0.4%) and the Nasdaq (-0.3%).

On the leaderboard, health care (-1.0%) has overtaken energy (-0.6%) as the worst performer of the day. The pair is followed by financials (-0.5%) and industrials (-0.4%). On the flipside, utilities (+0.3%), telecom services (0.3%), and consumer staples (-0.1%) lead.

In technology, Apple (AAPL 97.63, +1.18) has slipped from its high as Alphabet (GOOGL 734.99, -6.01) moves closer to its flat line.

Switching to energy, Dow components Exxon Mobil (XOM 75.28, -0.97) and Chevron (CVX 82.57, -0.46) trade higher, thanks to stronger oil pricing. WTI crude has narrowed its loss heading into the end of its pit session at 14:30 ET. Oil trades lower by 0.3% at $33.16/bbl. Meanwhile, Kinder Morgan (KMI 14.93, +0.68) has advanced 4.8% on strength in natural gas. The commodity trades higher by 3.7% at $2.48/MMbtu.

In Treasuries, the benchmark note is returning to its early-morning high with the yield on the 10-yr lower by two basis points at 2.13%.

2:05 pm:

[BRIEFING.COM] As early afternoon trading continues, the major averages float near their flat lines as the S&P 500 (-0.1%) flirts with negative territory and the Nasdaq (+0.1%) outperforms.

In sectors, countercyclical telecom services (+0.6) and utilities (+0.5%) lead the way with technology (+0.3%) and consumer staples (+0.2%) following. Meanwhile, energy (-0.8%), health care (-0.6%), and financials (-0.2%) show the widest losses.

In the consumer staples space, General Mills (GIS 55.77, +0.66) and Coca-Cola (KO 41.99, +0.37) are two of the top performers with respective advances of 1.2% and 0.9%. On the other side, Mead Johnson Nutrition (MJN 73.51, -2.13) has declined 2.8% on the heels Bloomberg's Gadfly Column which discussed a takeover scenario. The company also received a downgrade this morning at Credit Agricole to Underperform from Outperform.

In Treasuries, the benchmark note trades near its high with its yield lower by one basis point at 2.14%.
Related Quotes

1:30 pm:

[BRIEFING.COM] The major U.S. indices are trading mixed at this time, declining slightly since our last update.

A look inside the Dow Jones Industrial Average shows that Exxon Mobil (XOM 75.17, -1.06), Cisco (CSCO 25.09, -0.32), and United Technologies (UTX 90.75, -1.15) are underperforming. Exxon is lower as energy pulls back amid weakness in crude oil while United Technologies is weak after being downgraded to Mkt Perform from Outperform at Bernstein.

Conversely, Apple (AAPL 98.37, +1.92) is the best-performing Dow component as shares bounce back from this week's extended weakness. Shares are still down more than 6% this week despite today's gains.

At current levels, the DJIA is set to end the week with losses of 5.3%

1:10 pm:

[BRIEFING.COM] The major averages trade near the midpoint of today's trading range with the S&P 500 (+0.1%) trailing the Dow Jones Industrial Average (+0.2%) and the Nasdaq (+0.3%). Including today's trade, the benchmark index sports the slimmest weekly loss among the three averages with a decline of 4.8%.

Equity futures traded marginally higher following mostly defensive overseas sessions. After an initial favorable reading of the employment situation report, futures hit their pre-market highs. These levels were short-lived as futures retreated into the open. The stock market began the day with a bounce but has retreated from its highs, as headwinds in the job report and losses in crude oil pressured the market as a whole.

While nonfarm payrolls handily beat analyst expectations with an increase of 292k, flat hourly earnings growth (Briefing.com consensus +0.2%) underlines concerns regarding wage growth and consumer spending. The U6 unemployment rate, which accounts for the unemployed, underemployed, and marginally attached workers, was unchanged at 9.9%.

The market slid in tandem with falling oil prices in early trading, but climbed off its low in a move that coincided with a rebound in crude oil. Currently, WTI crude trades higher by 0.7% at $33.51/bbl, while equity indices float above their flat lines.

On the leaderboard, telecom service (+0.8%), utilities (+0.7%), technology (+0.5%), and consumer staples (+0.4%) lead while energy (-0.8%), health care (-0.3%), financials (UNCH), and industrials (+0.1%) fall behind.

In the technology space, sector large-cap Apple (AAPL 98.59, +2.13) has outperformed along with fellow large caps Facebook (FB 99.00, +1.08) and Microsoft (MSFT 53.01, +0.84). The three companies hold gains between 1.0% and 2.0%. Elsewhere in technology, the PHLX Semiconductor Index is showing relative weakness with a decline of 0.4%.

In the health care group, biotechnology has shown relative weakness throughout the day evidenced by the iShares Nasdaq Biotechnology ETF (IBB 305.05, -2.73) currently down 0.9%.

In Treasuries, the benchmark note trades on its high with the yield on the 10-yr unchanged at 2.15%.

Economic data thus far has included Nonfarm Payrolls and whole sale inventories. Participants will receive the November consumer credit report (Briefing.com consensus $18.50 billion) at 15:00 ET.

December nonfarm payrolls increased by 292,000 (Briefing.com consensus 200,000)
November nonfarm payrolls were revised to 252,000 from 211,000
October nonfarm payrolls were revised to 307,000 from 298,000
Private sector payrolls increased by 275,000 (Briefing.com consensus 194,000)
November private sector payrolls were revised to 240,000 from 197,000
October private sector payrolls were revised to 312,000 from 304,000
The Unemployment rate was 5.0% (Briefing.com consensus 5.0%) versus 5.0% in November
The U6 unemployment rate, which accounts for the total unemployed plus persons marginally attached to the labor force and the underemployed, was unchanged at 9.9%
Average hourly earnings were flat (Briefing.com consensus 0.2%) after increasing 0.2% in November
The average workweek was 34.5 hours (Briefing.com consensus 34.5) versus 34.5 hours in November
The labor force participation rate was 62.6% versus 62.5% in November
November Wholesale Inventories fell 0.3% while the Briefing.com consensus expected a decreased of 0.1%
Today's report followed last month's revised decrease of 0.3% (from -0.1%).
The inventories/sales ratio increased to 1.32 from 1.31 in October.

12:35 pm:

[BRIEFING.COM] The major averages trade above their flat lines as the tech-heavy Nasdaq (+0.5%) leads the S&P 500 (+0.3%). The benchmark index is currently showing a weekly dip of 4.8%.

On the leaderboard, technology (+0.7%), utilities (+0.6%), and consumer discretionary (+0.5%) lead while energy (-0.5%), health care (-0.1%), and financials (UNCH) trail .

In specific industries, apparel stores and retailers are showing relative weakness with The Gap (GPS 23.36, -3.38) falling 12.7% after disclosing a 5.0% decline in same store sales. Elsewhere in retail stocks, Macy's (M 36.26, -0.63) and Nordstrom (JWN 47.19, -1.30) have declined 1.8% and 2.6% respectively.

In commodities, WTI crude has returned to positive territory gaining 1.0% at $33.58/bbl.

12:05 pm:

[BRIEFING.COM] As afternoon trading begins, the major indices trade near their flat lines, with the Nasdaq (UNCH) and the S&P 500 (UNCH) pacing one another.

On the bottom of the leaderboard, energy (-0.8%), health care (-0.4%), financials (-0.2%), and materials (+0.2%) fall behind. Meanwhile, utilities (+0.5%), technology (+0.3%), and consumer staples (+0.3%), and consumer discretionary (+0.3%) lead.

In the health care space, biotechnology shows relative weakness, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 305.52, -2.26) which shows a 0.7% decline thus far today.

Elsewhere, the Dow Jones Transportation Average (+0.4%) is outperforming thanks in part to advances in the Union Pacific Corporation (UNP 74.28, +1.20) and Delta Airlines (DAL 47.64, +0.64). The companies trade higher by 1.6% and 1.4%, respectively.

In Treasuries, the benchmark note remains near its high with its yield flat at 2.14%.

11:30 am:

[BRIEFING.COM] The major averages drift beneath their flat lines as the Dow Jones Industrial Average (-0.2%) and S&P 500 (-0.2%) show slim losses.

On the leaderboard four groups have entered negative territory with energy (-1.4%), health care (-0.5%), financials (-0.3%), and technology (-0.2%) rounding out the board. On the flipside, countercyclical sectors telecom services (+0.3%), utilities (+0.3%), and consumer staples (+0.2) lead the pack.

In energy, Dow Jones components Chevron (CVX 81.45, -1.57) and Exxon Mobil (XOM 75.24, -0.99) pace the losses in the sector with declines of 1.9% and 1.3%. This slide in energy follows WTI's 1.8% decline. Oil is trading at $32.67/bbl.

Looking at currencies, the U.S. Dollar Index has declined from its pre-market high as the index narrows its advance to 0.2% at 98.52.

11:05 am:

[BRIEFING.COM] The stock market has backed away from its opening high and nears its flat line as the tech-heavy Nasdaq (+0.3%) leads the S&P 500 (+0.2%) and the Dow Jones Industrial Average (+0.2%).

On the leaderboard, telecom services (+0.6%), consumer discretionary (+0.5%), materials (+0.5%),and technology (+0.4%) lead while energy (-0.8%), financials (+0.2%), and health care (+0.2%) trail.

In the heavy-weight technology sector, Apple (AAPL 97.71, +1.26) and Facebook (FB 99.27, +1.37) outperform with respective advances of 1.2% and 1.4%. Elsewhere in the space, high-beta chipmakers continue to underperform evidenced by the 0.4% downtick in the PHLX Semiconductor Index. Index component Qorvo (QRVO 43.60, -2.04) continues to slide after the company lowered its Q3 revenue guidance to $620 million from $720 million-730 million and lowered Q4 revenue guidance below consensus.

Switching to Treasuries, the benchmark note trades near its high with its yield unchanged at 2.15%.

10:40 am: [BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, are trading near the unchanged line in morning action
Earlier this morning, gold and silver, along with other select commodities such as oil, pulled back some following the jobs numbers
In current trade, Mar silver is -2.2% at $14.03/oz, while Feb gold is -0.5% at $1102.00/oz
Natural gas has been climbing higher and just a new high for the day
Feb NG is now +2% at $2.43/MMBtu
WTI was climbing higher earlier this morning, but has lost some steam and is back below $33/share, heading back to today's low
Feb crude is currently -1.1% at $32.90/barrel

10:00 am:

[BRIEFING.COM] The stock market hovers below its opening highs with the S&P 500 trading higher by 0.6% while the Nasdaq (+1.0%) outperforms.

Just released, November wholesale inventories fell 0.3% while the Briefing.com consensus expected a decrease of 0.1%. Today's report followed last month's revised decrease of 0.3% (from -0.1%).

9:45 am:

[BRIEFING.COM] The stock market has opened higher with the Nasdaq (+0.8%) leading the S&P 500 (+0.4%) and the Dow Jones Industrial Average (+0.3%)

Nine of ten sectors have opened in the green with technology (+0.6%), consumer discretionary (+0.6%), materials (+0.5%), and health care (+0.4%) leading the pack. On the flipside, energy (-0.3%), consumer staples (UNCH), and utilities (+0.2%) trail.

In commodities, WTI crude has surrendered its flat line as oil trades lower by 0.5% at $33.11/bbl.

Meanwhile in Treasuries, the benchmark note trades on its low with its yield higher by two basis point at 2.16%.

9:19 am: [BRIEFING.COM] S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +26.60.

The stock market is on track for a higher open with the S&P 500 futures trading ten points above fair value. Futures notched new highs following a better than expected jobs report, but they have since retreated.

Nonfarm payrolls increased by 292,000 jobs, surpassing analyst expectations (Briefing.com consensus 200,000), but the lack of hourly wage growth (Briefing.com consensus 0.2%) has taken the shine off the report. Meanwhile. the unemployment remains static at 5.0%.

In commodities, WTI crude has surrendered it pre-market advance as oil treads its flat line at $33.33/bbl.

Switching to Treasuries, the benchmark note set a fresh low after the employment situation report, but has since climbed off that level, leaving the 10-yr yield with an uptick of one basis point at 2.16%.

9:01 am: [BRIEFING.COM] S&P futures vs fair value: +19.00. Nasdaq futures vs fair value: +40.80.

The S&P 500 futures trade 19 points above fair value

Markets in the Asia-Pacific region ended the week on a mixed note with China's Shanghai Composite climbing 2.0% to snap this week's skid. The index opened in the green and made a brief appearance near its flat line during the initial hour, but a rally to a fresh session high ensued, allowing the index to end the day near its best level of the day. After a series of lower fixes for the yuan, the People's Bank of China, set the reference rate a little higher at 6.5636 from Thursday's 6.5929. Elsewhere, Bank of Japan Governor Haruhiko Kuroda appeared in front of the parliament, repeating that the central bank is halfway to achieving the 2.0% inflation target.

In economic data:
Japan's Average Cash Earnings 0.0% year-over-year (expected 0.7%; previous 0.7%), November Coincident Indicator -1.7% month-over-month (prior -2.0%), and November Leading Index 103.9, as expected (consensus 104.2)
Australia's November Retail Sales +0.4%, as expected (previous +0.6%) and December AIG Construction Index 46.8 (previous 50.7)

---Equity Markets---

Japan's Nikkei flashed an early gain, but could not avoid its fifth consecutive decline, falling 0.4%. Two sectors-industrials (+0.4%) and technology (+0.5%)-ended in the green while the downside was paced by utilities (-2.2%), consumer discretionary (-1.1%), and financials (-1.0%). Pioneer, Chubu Electric Power, Nippon Express, Bank of Yokohama, Fast Retailing, and Furukawa Electric lost between 2.2% and 4.6%. On the flip side, Nikon, Fujitsu, NEC, and Advantest gained between 1.7% and 2.8%. For the week, the Nikkei lost 7.0%.
Hong Kong's Hang Seng added 0.6% after flirting with its low from Thursday. Energy names rebounded from recent weakness with CNOOC, Petrochina, and China Petroleum & Chemical rising between 1.2% and 5.8%. On the downside, property names struggled with Sino Land, Hang Lung Properties, and Henderson Land falling between 1.0% and 2.9%. The Hang Seng surrendered 6.7% this week.
China's Shanghai Composite gained 2.0% to narrow its weekly drop to 10.0%. Agricultural Bank of China and CITIC Securities gained 1.6% and 3.0%, respectively.

Major European indices have spent most of their time above their flat lines in the early going, but maintaining those gains has been a bit of a challenge. Regional markets flashed brief gains after the People's Bank of China took a break from devaluing the yuan, but market employed some caution ahead of the Nonfarm Payroll report. After the strong jobs report was released though the major indices advanced.

In economic data:
Germany's November trade surplus narrowed to EUR19.70 billion from EUR20.50 billion (expected surplus of EUR20.00 billion) as Exports rose 0.4% (expected 0.7%; previous -1.3%) and Imports increased 1.6% (consensus 1.0%; last -3.2%). Separately, November Industrial Production -0.3% month-over-month (expected 0.5%; last 0.5%)
UK's November trade deficit narrowed to GBP10.64 billion from GBP11.20 billion (expected deficit of GBP10.50 billion)
France's November trade deficit narrowed to EUR4.60 billion from EUR4.90 billion (expected deficit of EUR4.00 billion)
Swiss December CPI -0.4% month-over-month (consensus -0.3%; last -0.1%); -1.3% year-over-year (expected -1.2%; last -1.4%). Separately, December Unemployment rate held at 3.4%, as expected

---Equity Markets---

UK's FTSE is higher by 0.7% with Tesco in the lead. The consumer stock has surged 5.1% after Barclays issued a buy rating for the stock. Elsewhere, GKN, BAE Systems, and Standard Life hold gains between 1.8% and 3.3%. On the downside, Royal Dutch Shell and BP hold respective losses of 3.2% and 2.2%. Despite today's uptick, the FTSE is on track to end the week lower by 4.4%.
Germany's DAX trades higher by 0.7%. More than half of the index trades in the red with BMW, Deutsche Bank, and Adidas down between 1.0% and 1.2%. Conversely, Volkswagen, Daimler, and Siemens have climbed between 0.4% and 1.0%. Given its current level, the index is tracking a 7.2% decline for the week.
France's CAC is higher by 0.4%. Growth-sensitive Solvay, Technip, and Total are down between 1.2% and 3.1% while financials BNP Paribas and Societe Generale hold losses close to 0.8% apiece. Meanwhile, two other financials-AXA and Credit Agricole-show respective gains of 0.4% and 0.5%. The CAC 40 is set to end the week lower by 5.3%.

8:30 am: S&P futures vs fair value: +18.30. Nasdaq futures vs fair value: +46.30.

[BRIEFING.COM] The S&P 500 futures trade 18 points above fair value.

December Nonfarm Payrolls came in at 292,000 while the Briefing.com consensus expected a reading of 200,000. The prior month's reading was revised up to 252,000 from 211,000. Nonfarm private payrolls added 275,000 against the 194,000 expected by the consensus. The unemployment rate held at 5.0%, which is what the Briefing.com consensus expected.

Hourly earnings rose 0.0%, while the consensus expected an uptick of 0.2%. The average workweek was reported at 34.5, which is what the consensus expected.

8:00 am:

[BRIEFING.COM] U.S. equity futures trade higher with S&P 500 futures trading 14 points above fair value.

Meanwhile, Treasuries trade near their lows with the yield on the 10-yr note higher by three basis points at 2.17%.

In economic data, the December Employment Situation report (Briefing.com consensus 200k) will cross the wires at 8:30 ET while the November Wholesale Inventories report (Briefing.com consensus -0.1%) will be released at 10:00 ET. In the afternoon, the November Consumer Credit report (Briefing.com consensus $18.50 billion) will be announced at 15:00 ET.

In U.S. corporate news of note:

Baxalta (BXLT 41.25, +0.79): +2.0% following Reuters reporting that Shire is looking to acquire the company at $48.00 a share
Qorvo (QRVO 42.73, -2.91): -6.4% after the Apple supplier was downgraded at Cowen with a price target reduction to $125 from $130. This move comes after the company lowered Q3 revenue guidance to $620 million from $720-730 million late yesterday. The firm also sees below consensus Q4 revenue as well.

Reviewing overnight developments:

Asian markets ended their week on a mixed note with China's Shanghai Composite +2.0%, Hong Kong's Hang Seng +0.6%, and Japan's Nikkei -0.4%.
In economic data:
Japan's Average Cash Earnings 0.0% year-over-year (expected 0.7%; previous 0.7%), November Coincident Indicator -1.7% month-over-month (prior -2.0%), and November Leading Index 103.9, as expected (consensus 104.2)
Australia's November Retail Sales +0.4%, as expected (previous +0.6%) and December AIG Construction Index 46.8 (previous 50.7)
In news:
The People's Bank of China strengthened the yuan with a reference rate at 6.5636 versus Thursday's 6.529
Governor Haruhiko Kurodafrom the Bank of Japan appeared in front of parliament and repeated that the central bank is halfway to achieving its inflation target of 2.0%.

European indices trade near their flat lines with Germany's DAX +0.3%, France's CAC -0.2%, and the U.K.'s FTSE +0.5%.
In economic data:
Germany's November trade surplus narrowed to EUR19.70 billion from EUR20.50 billion (expected surplus of EUR20.00 billion) as Exports rose 0.4% (expected 0.7%; previous -1.3%) and Imports increased 1.6% (consensus 1.0%; last -3.2%). Separately, November Industrial Production -0.3% month-over-month (expected 0.5%; last 0.5%)
UK's November trade deficit narrowed to GBP10.64 billion from GBP11.20 billion (expected deficit of GBP10.50 billion)
France's November trade deficit narrowed to EUR4.60 billion from EUR4.90 billion (expected deficit of EUR4.00 billion)
Swiss December CPI -0.4% month-over-month (consensus -0.3%; last -0.1%); -1.3% year-over-year (expected -1.2%; last -1.4%). Separately, December Unemployment rate held at 3.4%, as expected

5:53 am: [BRIEFING.COM] S&P futures vs fair value: +14.30. Nasdaq futures vs fair value: +33.80.

5:53 am: [BRIEFING.COM] Nikkei...17698...-69.40...-0.40%. Hang Seng...20453.7...+120.40...+0.60%.

5:53 am: [BRIEFING.COM] FTSE...5985.05...+31.00...+0.50%. DAX...10021.99...+42.10...+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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