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 Post subject: January 13th Wednesday Trade Results - Profit $6250.00
PostPosted: Thu Jan 14, 2016 12:17 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)

Attachment:
011316-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+6250.00.png
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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 @ $6250.00 dollars or +125.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $6250.00 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=2265

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.


click on the above image to view today's price action of key markets


4:25 pm: [BRIEFING.COM] The major averages ended their midweek session sharply lower with the tech-heavy Nasdaq (-3.4%) trailing the S&P 500 (-2.5%). Equity indices surrendered their opening gains amid continued growth concerns that also pressured crude oil from its overnight high. Including today's tumble, the benchmark index has surrendered 7.5% since the beginning of 2016 while the Nasdaq has slid 9.6%.

Overnight, oil advanced from yesterday's low with better than expected December trade data from China contributing to the advance. China's trade report showed a surplus of $60.1 billion versus the expected $51.3 billion. Despite the beat, this represented the sixth consecutive month of year-over-year declines in exports. While this was not good enough to boost China's Shanghai Composite (-2.4%), it was sufficient in helping the battered commodity rally.

At the beginning of our trading day, oil was up more than 3.0%, contributing to early strength in equities. The energy-component would lose momentum shortly after the open once the weekly EIA gasoline inventories showed a build of 8.438 million barrels. WTI crude showed a loss of 1.1% before ending its pit session unchanged at $30.43/bbl. On a related note, crude inventories rose 0.243 million barrels compared to an expected increase of 2.504 million barrels.

Another reminder of the persistent growth concerns came from rail company CSX (CSX 22.35, -1.35), which issued lower 2016 guidance when it reported Q4 earnings after yesterday's close. The company cited global and industrial slow down trends that would affect their core business, leading to an expected decline in year-over-year earnings. The transports reeled from this guidance, evidenced by the 3.7% decline in the Dow Jones Transportation Average which is now down 10.5% on the year. Fellow rail company Norfolk Southern (NSC 71.44, -4.49) suffered a 5.9% decline while Avis (CAR 27.19, -2.11) posted the worst loss in the index, falling 7.2%.

Sectors like, consumer discretionary (-3.4%), health care (-2.9%), technology (-2.8%), financials (-2.6%), and industrials (-2.3%) paced the retreat while utilities (UNCH), telecom services (-1.1%), consumer staples (-1.7%), and energy (-1.8%) outperformed.

Once again, today's retreat saw the biggest losses among names that enjoyed strength in 2015. To that point, discretionary component Netflix (NFLX 106.56, -10.02) sank 8.6% following a report from ITG Research which revised revenue estimates for the company, citing domestic subscriber weakness. Elsewhere in the space, Amazon (AMZN 581.81, -36.08) declined 5.8%.

Switching to the technology space, large-cap constituents Facebook (FB 95.44, -3.93) and Alphabet (GOOGL 719.57, -25.77) showed relative weakness with respective declines of 4.0% and 3.5%. Fellow large-caps Microsoft (MSFT 51.64, -1.14) and Apple (AAPL 97.39, -2.57) fared better than the sector, but could not stay out of the red. Elsewhere in the space, the high-beta chipmakers underperformed, evidenced by the 3.1% decline in the PHLX Semiconductor Index.

Looking at the health care space, biotechnology showed relative weakness with a decline of 5.4% in the iShares Nasdaq Biotechnology ETF (IBB 280.14, -16.06).

Treasuries ended their day near their highs with the yield on the 10-yr note lower by four basis points at 2.07%.

Trading volume remained heavy with more than a billion shares changing hands at the NYSE floor once again.

Today's economic data included the MBA Mortgage Index, the December Treasury Budget, and the Federal Reserve;s January Beige Book.

The MBA Mortgage Index showed a seasonally adjusted increase of 21.3% in mortgage applications.
The December Treasury Budget showed a deficit of $14.4 billion.
The Treasury data are not seasonally adjusted, so the December deficit cannot be compared to the November deficit of $64.6 billion.
Total receipts in December were $349.6 billion while total outlays were $364.1 billion.
Receipts were $14.3 billion more than December 2014 receipts while total outlays were $30.6 billion more than December 2014.
The yearly deficit increased by $16.3 billion to $477.8 billion.

Tomorrow, weekly initial claims (Briefing.com consensus 275k) and December import/export prices will be released at 8:30 ET.

Russell 2000 -11.1% YTD
Nasdaq -9.6% YTD
S&P 500 -7.5%
Dow Jones -7.3%



3:45 pm: [BRIEFING.COM]

The dollar index slid lower in afternoon trade, which helped provide provide a little support to commodities
WTI oil futures started strong, but lost steam after the EIA released the weekly EIA storage data
Feb crude oil ultimately closed today's session one cent lower at $30.43/barrel
In other energy, Fen nat gas rose one cent to $2.27/MMBtu
Silver was a big performer today, easily outperforming gold
Mar silver rallied 2.8% today to $14.15/oz, while Feb gold gained $1.90 to $1087.10/oz

3:00 pm:

[BRIEFING.COM] At the stock market enters its last hour, the major indices hover above their session lows. The Nasdaq (-2.9%) trails the S&P 500 (-2.2%) and the Dow Jones Industrial Average (-1.9%).

Nine of ten sectors trade in the red with only utitlies (+0.1%) advancing today. On the flipside, consumer discretionary (-3.3%), health care (-2.7%), technology (-2.7%), financials (-2.7%) and energy (-2.5%) trail.

Looking at the heavily-weighted technology sector, large-cap constituents Alphabet (GOOGL 717.51, -27.83) and Facebook (FB 95.37, -4.00) continue to show relative weakness with declines of 3.6% and 3.8%, respectively. Elsewhere, the high-beta chipmakers continue to show relative weakness, evidenced by the 3.1% slide in the PHLX Semiconductor index.

Switching to the consumer discretionary space, two of 2015's best performers Amazon (AMZN 585.80, -32.31) and Netflix (NFLX 106.26, -10.32) have posted two of the worst losses with respective declines of 5.1% and 8.7%.

Moving to commodities, WTI crude has ended its session modestly higher with an uptick of unchanged at $30.43/bbl.

Meanwhile in Treasuries, the benchmark note trades near its high with its yield lower by four basis points at 2.06%.



2:30 pm:

[BRIEFING.COM] The major indices have continued to mark new lows in recent action with the tech-heavy Nasdaq (-2.7%) trailing the S&P 500 (-1.8%) floating near their recent levels.

On the leaderboard, consumer discretionary (-2.7%) technology (-2.0%), health care (-2.0%), energy (-1.9%), industrials (-1.8%), and financials (-1.8%) trail. On the flipside, utilities (+0.6%), telecom services (-0.5%), and consumer staples (-1.0%) lead.

Switching gears, the Federal Reserve has released its December Beige Book, which showed that most Fed Districts reported a modest increase in economic activities since the previous report. Among districts that reported, non financial services grew at a modest or moderate pace. Conversely, fewer districts reported increases in manufacturing activity than decreases during the last reporting period.

With regards to employment, the Beige Book indicated that labor markets continue to improve with employment increasing in seven Districts. On the other hand, four Districts mentioned signs of labor tightening.

The commentary on prices reported little overall change with price increases tending to be minimal.

In commodities, WTI crude has retraced to its flat line from its low and currently trades higher by 0.1% at $30.45/bbl as we approach the end of its pit session at 14:30 ET.

Looking at Treasuries, the benchmark note trades higher with the yield on the 10-yr note lower by four basis points at 2.06%.

2:00 pm:

[BRIEFING.COM] The major indices floats above their freshly notched session lows with the tech-heavy Nasdaq (-2.5%) trailing the S&P 500 (-1.7%).

The Treasury Budget statement for December was just released and it showed a deficit of $14.00 billion. The Treasury data are not seasonally adjusted so the December deficit cannot be compared to the $65.00 billion deficit recorded in November.

1:35 pm:

[BRIEFING.COM] The major US indices continue to move lower in recent trade, with equities at their intra-day lows.

A look inside the Dow Jones Industrial Average shows that Goldman Sachs (GS 161.52, -4.19), Boeing (BA 128.77, -3.15), and Home Depot (HD 124.37, -3.12) are underperforming amid broad market weakness.
Related Quotes

Conversely, Exxon Mobil (XOM 76.11, +0.91) is the best-performing Dow component as oil stabilizes following yesterday's drop to fresh 12-year lows.

For the week, the DJIA is now in negative territory, and today's decline has pushed the index's 2016 losses to 6.2%

Elsewhere, at the top of the hour, the Fed''s $21 bln 1-year note reopening was met with robust demand, showing the highest bid-to-cover since since December of 2014 and the highest indirect bid since February 2011. The auction drew a high yield of 2.09% on a bid-to-cover of 2.77.

1:10 pm:

[BRIEFING.COM] At midday, the major indices trade near their recently established lows with the tech-heavy Nasdaq down 1.5% while the Dow Jones Industrial Average (-0.9%) and S&P 500 (-1.0%) outperform slightly. The stock market began its day on an upbeat note following an overnight rally in oil, but has since retreated into negative territory. The rally attempt was abandoned after concerns regarding oil and global growth reemerged, weighing on the major indices.

Overnight, WTI crude was able to advance as it was spurred on by better than expected trade data out of China. December's Trade Data showed a surplus of $60.1 billion versus the expected $51.3 billion. While this beat expectations, it still represented the sixth consecutive month of year-over-year declines in exports. Nevertheless, this was good enough for oil which extended its rally. At the start of the U.S. session, WTI crude was up more than 3.0% before it started to slide. Once the EIA weekly gasoline inventories showed a build of 8.438 million barrels, oil plummeted to its lowest point of the day. Currently, WTI crude trades higher by 0.4% after bouncing off its low.

The recent growth worries have been echoed by yesterday's quarterly results from CSX (CSX 22.20, -1.50). The rail company issued lower 2016 guidance, citing negative global and industrial trends that would affect their core railroad business. The transports have been hit the hardest by this news, evidenced by the 2.8% decline in the Dow Jones Transportation Average. Fellow railroad stocks Union Pacific (UNP 74.06, -2.21) and Norfolk Southern (NSC 71.30, -4.63) have also declined under this pressure with losses of 2.9% and 6.1%, respectively.

Rounding out the leaderboard, consumer discretionary (-1.6%), industrials (-1.2%), financials (-1.2%), health care (-1.1%), and materials (-1.0%) trail while utilities (+0.5%), telecom services (-0.2%), and consumer staples (-0.6%) lead.

The consumer discretionary space has paced today's retreat. Group constituent, Netflix (NFLX 109.69, -6.90) has shown relative weakness following revised revenue expectation from ITG Research which cited lower domestic subscriber estimates. Elsewhere in the sector, large-cap Amazon (AMZN 600.89, -17.00) has declined 2.8%.

In the heavily-weighted technology space, sector large-caps Alphabet (GOOGL 734.44, -10.90) and Facebook (FB 98.12, -1.25) have paced the retreat in the broader sector with respective declines of 1.5% and 1.2%. Elsewhere in the space, fellow large-cap Microsoft (MSFT 52.78, +0.00) shows relative strength following an upgrade at Morgan Stanley while Apple (AAPL 99.95, -0.02) recently lost $100 price level.

Switching to Treasuries, the benchmark note has climbed into the green as the market turned lower. The 10-yr note sits just below its high with its yield down one basis point at 2.09%.

Today's economic data included the MBA Mortgage Index, which showed a seasonally adjusted increase of 21.3% in mortgage applications. Later today, the Federal Reserve's January Beige Book and the December Treasury Budget will cross the wires at 14:00 ET.

12:30 pm:

[BRIEFING.COM] The major indices hover above their session lows with the Nasdaq (-1.1%) trailing the S&P 500 (-0.6%).

On the bottom of the leaderboard, consumer discretionary (-1.3%), industrials (-0.9%), energy (-0.9%), and materials (-0.7%) trail while utilities (+0.6%), telecom services (+0.2%), consumer staples (-0.2%), and health care (-0.3%) lead.

In the heavily-weighted technology space (-0.5%), Microsoft (MSFT 53.26, +0.48) continues to show relative strength after the company received an upgrade at Morgan Stanley from 'Equal-Weight' to 'Overweight'. Despite the good news, the stock was unable to make it above its 20-day moving average (54.19) before the market shifted lower. Fellow large-cap component, Apple (AAPL 100.31, +0.33) has outperformed the sector as the stock looks to defends its $100 price level. Elsewhere in the space, the high-beta chipmakers have underperformed, evidenced by the decline of 0.8% in the PHLX Semiconductor Index.

Switching to Treasuries, the benchmark note trades on its low with the yield on the 10-yr note unchanged at 2.11%.

12:00 pm:

[BRIEFING.COM] The major averages trade at their session lows with the tech-heavy Nasdaq (-0.9%) trailing the Dow Jones Industrial Average (-0.5%) and the S&P 500 (-0.5%).

Countercyclical utilities (+0.6%) and telecom services (+0.3%) are the only two sectors in positive territory while consumer discretionary (-1.1%), materials (-0.8%), industrials (-0.7%), and financials (-0.6%) lead the downside.

Looking at the health care space (-0.4%), biotechnology continues to show relative weakness, evidenced by the 2.2% decline in the iShares Nasdaq Biotechnology ETF (IBB 289.87, -6.33). Elsewhere in the space, sector large-cap AbbVie (ABBV 53.58, -0.69) underperforms with a loss of 1.5%.

Switching to commodities, oil trades in the lower half of today's trading range but remains higher by 0.1% at $30.46/bbl.

In Treasuries, the benchmark note trades on its high with its yield lower by one basis point at 2.10%.

11:30 am:

[BRIEFING.COM] The major averages float beneath their flat lines with the S&P 500 (-0.1%) leading the Nasdaq (-0.4%).

Topping the leaderboard, countercyclical utilities (+0.7%) and telecom services (+0.3%) lead with energy (+0.2%), technology (UNCH), and health care (-0.1%) following. In the back of the pack, consumer discretionary (-0.8%), materials (-0.5%), industrials (-0.4%), and financials (-0.1%) trail.

In the consumer discretionary space, Netflix (NFLX 110.91, -5.65) has shown relative weakness following ITG Research lowering its revenue expectations on the company due to poor domestic subscriber estimates. Elsewhere in the sector, large-cap Amazon (AMZN 604.00, -13.86) has declined 2.6% while Ford (F 12.47, -0.38) has slipped 3.1%.

Switching to Treasuries, the benchmark note trades higher with its yield now higher by one basis point at 2.11%.

11:00 am:

[BRIEFING.COM] The major averages have sunk into negative territory after surrendering their opening advances. The Nasdaq (-0.4%) trails the S&P 500 (-0.1%) and the Dow Jones Industrial Average (-0.1%).

Rounding out the leaderboard, consumer discretionary (-0.8%), consumer staples (-0.4%), industrials (-0.3%), and materials (-0.2%) trail behind. In front of the pack, telecom services (+0.3%), utilities (+0.1%), energy (+0.2%), and technology (+0.1%) lead.

Looking at the Dow Jones Transportation Averages, the index has shown relative weakness this morning with a decline of 1.4%. This followed CSX (CSX 22.84, -0.86) issuing lower guidance for 2016, citing negative global and industrial trends that will impact their core business. Elsewhere in the Transportation Average, fellow railroad components have also declined under this pressure with Union Pacific (UNP 74.79, -1.48) and Norfolk Southern (NSC 73.17, -2.76) showing respective losses of 2.0% and 3.6%.

In commodities, WTI crude has slid from its high following the release of the Energy Information Administration's weekly gasoline inventory. Gasoline inventories grew by 8.438 million barrels compared to the expected 2.703 million barrel build. Also reported, crude inventories rose 0.243 million barrels compared to an expected increase of 2.504 million barrels. WTI crude trades higher by 0.6% at $30.63/bbl.

10:40 am: [BRIEFING.COM]

The dollar index sold off in recent trade, falling into negative territory, helping proving a little support to the commodity complex
WTI oil futures began the day showing nice gains, but lost steam and just fell into the red for the first time today following the weekly EIA storage data, which showed a big build in gasoline and distillates inventory levels
Feb WTI crude oil is now trading
Natural gas is trading in positive territory today, following yesterday's notable weakness. Fen NG is now +0.9% at $2.28/MMBtu
Silver has been climbing higher all day. Mar silver is now +2.7% at $14.12/oz, while Feb gold is +0.3% at $1087.90/oz

10:00 am:

[BRIEFING.COM] The major indices have slipped from their opening highs but remain in positive territory with the S&P 500 (+0.3%) and the Dow Jones Industrial Average (+0.3%) outperforming the Nasdaq (+0.2%).

On the leaderboard, eight of ten sectors trade in the green with energy (+1.4%), utilities (+0.6%), technology (+0.6%), telecom service (+0.5%), and materials (+0.4%) leading while consumer discretionary (-0.4%), consumer staples (-0.2%), industrials (+0.2%), and health care(+0.2%) underperform.

The high-beta chipmakers have shown relative strength in the early going, evidenced by the PHLX Semiconductor Index outperforming with a gain of 0.5%. In the composite, constituent Qualcomm (QCOM 47.65, +1.13) shows the strongest start, after signing a joint venture agreement with TDK Corporation.

In Treasuries, the benchmark note remains near its recent low with yield on the 10-yr note higher by three basis points at 2.13%.

9:45 am:

[BRIEFING.COM] The major indices have opened their day in the green with the S&P 500 (+0.5%) pacing the tech-heavy Nasdaq (+0.5%).

On the leaderboard, commodity-sensitive energy (+1.7%) and materials (+0.8%) are out in front with technology (+0.7%), telecom services (+0.7%), and financials (+0.6%) following. On the flipside, consumer staples (-0.2%), consumer discretionary (UNCH), and health care (+0.5%) round out the board.

In the heavily-weighted technology sector, Microsoft (MSFT 53.87, +1.09) outperforms with an advance of 2.1% after receiving an upgrade at Morgan Stanley from 'Equal-Weight' to 'Overweight', citing an increasing and strong position in cloud market.

Switching to commodities, WTI crude has continued to rally into the open with oil higher by 3.9% at $31.60/bbl.

Looking at Treasuries, the benchmark note trades lower with the yield on the 10-yr note higher by two basis points at 2.13%.

9:17 am: [BRIEFING.COM] S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +15.00.

The stock market is on track for a modestly higher open as S&P 500 futures trade eight points above fair value.

Overnight, China's Shanghai composite sunk 2.4% despite better than expected December Trade Data which showed a surplus of $60.1 billion versus the expected $51.3 billion. The strong trade data was reflected both in exports and imports as exports rose 2.3% (ex -4.1%) and imports declined 4.0% (ex -8.0%). Elsewhere in China, the People's Bank of China has kept the yuan pinned near its recent high.

Meanwhile on the corporate front, MetLife (MET 45.14, +3.15) announced that it plans to pursue a separation of a substantial portion of its U.S. Retail segment. The means by which MetLife plans to divest itself of this portion of their business is still being considered, but the company has not ruled out a spin-off, public offering, or sale of this segment. The company trades higher by 7.5% in light of this development.

Looking at commodities, oil has slipped from its pre-market high but has notched a 2.2% advance ahead of today's session. WTI crude currently trades at $31.10/bbl.

In economic news, the MBA Mortgage Index was released at 7:00 ET which reported a seasonally adjusted increase of 21.3% in mortgage applications. Later today, the Federal Reserve's January Beige Book and the December Treasury Budget will cross the wires at 14:00 ET.

Switching to Treasuries, the benchmark note trades has moved off of its low with its yield higher by one basis points at 2.12%.



8:57 am: [BRIEFING.COM] S&P futures vs fair value: +9.80. Nasdaq futures vs fair value: +20.30.

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

Equity markets across Asia ended the midweek session on a mostly upbeat note, but China's Shanghai Composite (-2.4%) failed to join the rebound, ending the day on its session low. The retreat in China occurred despite the release of better than expected trade numbers that showed a smaller than expected decrease in both imports and exports. As for the People's Bank of China, the central bank essentially held the yuan fix unchanged for the fourth consecutive day. On a related note, the overnight Hong Kong Interbank Offered Rate fell to 8.31% after hitting 66.82% on Tuesday.

In economic data:
China's December trade surplus expanded to $60.09 billion from $54.10 billion (expected surplus of $53.00 billion) as Imports fell 7.6% year-over-year (consensus -11.5%; last -8.7%) and Exports declined 1.4% (expected -8.0%; prior -6.8%)
Japan's M2 Money Stock +3.0% year-over-year (consensus 3.4%; previous 3.3%)
South Korea's December Unemployment Rate held at 3.4%, as expected

---Equity Markets---

Japan's Nikkei spiked 2.9%, returning to Monday's levels. Every sector ended the day firmly in the green with technology (+3.6%), industrials (+3.3%), and consumer discretionary (+3.2%) in the lead. Yahoo Japan, Unitika, Okuma, TDK, Bridgestone, and NEC surged between 5.1% and 6.5%. On the flip side, Aeon was the lone decliner, slipping 0.6%.
Hong Kong's Hang Seng gained 1.1% thanks to relative strength in energy and financial names. CNOOC and Petrochina posted respective gains of 3.0% and 1.4% while Bank of East Asia, HSBC Holdings, and Ping An Insurance climbed between 1.1% and 1.8%.
China's Shanghai Composite lost 2.4%, widening its year-to-date decline to 16.7%. China Shipbuilding, Pacific Securities, and Shanghai Material Trading surrendered between 3.3% and 10.0%.

Major European indices hold solid gains across the board, but they have backed away from their early highs. On a separate note, the Spanish Parliament has begun a new session even though there is still no consensus regarding who will lead the governing body. To that point, acting Prime Minister Mariano Rajoy hopes to garner enough support to form a government by the end of the month. Spain's IBEX has essentially been immune to the political uncertainty, trading in-line with other regional indices.

Economic data was limited:
Eurozone November Industrial Production -0.7% month-over-month (expected -0.3%; previous 0.8%); +1.1% year-over-year (consensus 1.3%; last 2.0%)
France's December CPI +0.2% month-over-month (expected 0.1%; prior -0.2%) and November Current Account deficit widened to EUR1.40 billion from EUR1.00 billion

---Equity Markets---

France's CAC trades up 1.4% with energy-related names in the lead while financials also display strength. Technip and Total are both up near 2.8% while AXA, Credit Agricole, Societe Generale, and BNP Paribas show gains between 1.2% and 2.5%. On the downside, Publicis Groupe has surrendered 0.6%.
UK's FTSE has climbed 1.2% thanks in part to a rebound in mining names. Anglo American and Antofagasta are both up near 3.0%. Select financials have also contributed to today's strength with Aviva, Aberdeen Asset Management, and Admiral Group rising between 0.5% and 1.6%.
Germany's DAX has climbed 1.0% with utilities in the lead. E.On and RWE have surged 5.2% and 4.2%, respectively, while Deutsche Bank and Commerzbank show respective gains of 1.6% and 1.2%. On the downside, Adidas has given up 0.7%.

8:29 am: [BRIEFING.COM] S&P futures vs fair value: +8.80. Nasdaq futures vs fair value: +20.80.

As pre-market trading continues, S&P futures currently trade nine points above fair value.

In specific company news, LendingTree (TREE 90.50, +3.87) trades higher by 4.5% after the company raised its FY 2015 revenue guidance. The company also raised its guidance on Adjusted EBITDA to $38.8-$39.8 million from $38.3-38.8 million. On a related note, the weekly MBA Mortgage Index was released this morning, which showed a seasonally adjusted increase of 21.3% in mortgage applications.

Switching to commodities, WTI crude has climbed overnight ahead of the U.S. Energy Information Administration's weekly report on oil supplied at 10:30 ET. Oil trades higher by 3.0% at $31.34/bbl.

Elsewhere in economic news, the Federal Reserve's January Beige Book and the December Treasury Budget will both be released at 14:00 ET

Treasuries trade near their lows with the yield on the benchmark note higher by three basis points at 2.13%.

8:05 am:

[BRIEFING.COM] U.S. equity futures trade in the green, but they have slid from their overnight highs with the S&P 500 futures remaining three points above fair value.

In Treasuries, the benchmark note currently sits near its pre-market low with its yield higher by two basis points at 2.12%.

On the economic front, the weekly MBA Mortgage Index was reported at 7:00 ET, showing a seasonally adjusted increase of 21.3% in mortgage applications.

The Federal Reserve's January Beige Book and the December Treasury Budget will cross the wires at 14:00 ET.

In U.S. corporate news of note:

General Electric (GE 28.72, +0.07): +0.2% after the company announced that it plans to cut 6,500 jobs in Europe over the next two years
Yum! Brands (YUM 71.60, +2.03): +2.9% following a report by the company showing same-store sales growth of 2.0% in the China division
LendingTree (TREE 90.50, +3.87): +4.5% after the company raised its FY 2015 revenue guidance from $244-247 million to $252.5-253.5 million
Lloyd's Banking Group (LYG 3.97, -0.11): -2.7% in reaction to a downgrade from Exane BNP Paribas to 'Underperform' from 'Neutral'

Reviewing overnight developments:

Asian markets ended on a mostly higher note. Japan's Nikkei +2.9%, Hong Kong's Hang Seng +1.1%, and China's Shanghai Composite -2.4%.
In economic data:
China's December trade surplus expanded to $60.09 billion from $54.10 billion (expected surplus of $53.00 billion) as Imports fell 7.6% year-over-year (consensus -11.5%; last -8.7%) and Exports declined 1.4% (expected -8.0%; prior -6.8%)
Japan's M2 Money Stock +3.0% year-over-year (consensus 3.4%; previous 3.3%)
South Korea's December Unemployment Rate held at 3.4%, as expected
In news:
The People's Bank of China held the yuan relatively unchanged for the fourth consecutive day
Hong Kong's Interbank Offered Rate fell to 8.31% from 66.82% on Tuesday

European indices sport solid gains with France's CAC +1.4%, the U.K.'s FTSE +1.0%, and Germany's DAX +0.9%.
Economic data was limited:
Eurozone November Industrial Production -0.7% month-over-month (expected -0.3%; previous 0.8%); +1.1% year-over-year (consensus 1.3%; last 2.0%)
France's December CPI +0.2% month-over-month (expected 0.1%; prior -0.2%) and November Current Account deficit widened to EUR1.40 billion from EUR1.00 billion
In news:
The Spanish Parliament began their session where Prime Minister Mariano Rajoy hopes to garner enough support to form a government by the end of the month.

5:58 am: [BRIEFING.COM] S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +20.50.

5:58 am: [BRIEFING.COM] Nikkei...17716...+497.00...+2.90%. Hang Seng...19935...+223.10...+1.10%.

5:58 am: [BRIEFING.COM] FTSE...6000.78...+71.50...+1.20%. DAX...10115.13...+129.70...+1.30%.

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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