TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 7:16 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: January 15th Friday Trade Results - Profit $19875.00
PostPosted: Fri Jan 15, 2016 6:08 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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:
011516-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+19875.00.png
011516-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+19875.00.png [ 93.58 KiB | Viewed 381 times ]

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 @ $19875.00 dollars or +397.50 points, Light Crude Oil CL ($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 @ $19875.00 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=2267

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.

Attachment:
011516-Key-Price-Action-Markets.png
011516-Key-Price-Action-Markets.png [ 1.28 MiB | Viewed 358 times ]

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


4:25 pm: [BRIEFING.COM] The stock market ended its final session of the week on a sharply lower note, with the S&P 500 (-2.2%) registering a new 52-week low (1857.83) before the benchmark ticked off this low. Heavy selling in the oil market and below consensus economic data prompted today's selloff, but both of these echoed recent growth concerns. The tech-heavy Nasdaq (-2.7%) underperformed both the benchmark index and the Dow Jones Industrial Average (-2.2%).

Oil felt pressure overnight ahead of an anticipated report from the International Atomic Energy Agency. The agency was expected to issue a statement asserting that Iran complied with an agreement to restrict the country's nuclear program. This report is expected to pave the way for oil export sanctions to be lifted. This report was not delivered as of the closing bell, but it is expected to be released on Saturday. Nevertheless, oil was hammered below the $31.00/bbl price level, which weighed on global equity indices. WTI crude would end the day lower by 5.7% at $29.45/bbl, which represented the first close below $30.00/bbl in twelve years.

If this wasn't enough, Citigroup (C 42.47, -2.91) announced in its Q4 earnings report that it increased its loan loss reserve by $549 million to cope with exposure to the energy sector. This mirrored a similar announcement from JPMorgan Chase (JPM 57.04, -1.16) yesterday.

Ahead of the opening bell, futures extended their overnight losses when economic data came in below economists' expectations. The two most important misses were in December U.S. Retail Sales, which declined 0.1% (Briefing.com consensus +0.1%), and Industrial production, which fell 0.4% in December. In addition, a disappointing January Empire Manufacturing Report (-19.4; Briefing.com consensus -3.5) added to concerns about the manufacturing sector.

Today's retreat was paced by financials (-3.4%), technology (-3.2%), energy (-2.9%), and consumer discretionary (-2.2%) while countercyclical utilities (-0.9%), telecom services (-1.1%), health care (-1.4%), and consumer staples (-1.6%) topped the board.

In the financial sector, large-caps Citigroup, Wells Fargo (WFC 48.82, -1.82) and Bank of America (BAC 14.46, -0.53) lead the losses in the space. The three names declined 6.4%, 3.6%, and 3.5%, respectively. This came despite Citigroup and Wells Fargo reporting earnings in-line with analyst expectations and ahead of Bank of America's earnings results on Tuesday.

Moving to the heavily-weighted technology sector, Intel (INTC 29.76, -2.98) outpaced the retreat in the group after reporting earnings this morning. Even after reporting a beat, the stock declined 9.1%, due to concerns regarding 2016 growth and a $200 million decline in operating income. Adding pressure in the semiconductor space was cautious guidance from Analog Devices (ADI 49.82, -0.68 ), which caused a 1.4% slip in the stock. For its part, the PHLX Semiconductor Index plunged 4.5%. Elsewhere in the tech space, sector large-caps Alphabet (GOOGL 710.49, -20.90), Facebook (FB 94.97, -3.40), and Microsoft (MSFT 50.99, -2.12) fell between 2.9% and 4.0%.

Switching to the health care space, biotechnology showed relative weakness throughout the day, evidenced by the 2.5% decline in the iShares Nasdaq Biotechnology ETF (IBB 284.18 -7.26).

Treasuries returned some of their early morning gains, but the 10-yr note still finished comfortably in the green, pressuring its yield to 2.03% (-6 bps).

Today's session produced the heaviest volume of the week with options expiration likely contributing to the increased total. As a result, more than 1.4 billion shares changed hands at the NYSE floor.

Today's economic data included December PPI, December Retail, January Empire Manufacturing Index, December Industrial Production report, November Business Inventories, and the preliminary reading of the Michigan Sentiment Index for January.

The Producer Price Index report for December produced a 0.2% decline
The downtick in the final demand index was due to a 0.7% decline in prices for final demand goods.
The index for final demand services ticked up 0.1%.
On a year-over-year basis, the index for final demand is down 1.0%, which is the eleventh consecutive 12-month decline.
Core PPI is up 0.3%. core PPI, which excludes food and energy, increased 0.1%.
December Retail Sales report decreased 0.1% (Briefing.com consensus +0.1%) while sales ex-auto also decreased 0.1% (Briefing.com consensus 0.3%).
Total sales for 2015 were up 2.1% from 2014 while Q4 sales rose 1.8% year-over-year.
Empire Manufacturing Survey for January registered a reading of -19.4, which was below the prior month's revised reading of -6.2 (from -4.6) (Briefing.com consensus -3.5)
Industrial production declined 0.4% in December with a revised 0.9% decline (from -0.6%) in November. (Briefing.com consensus -0.2%)
That was the fifth consecutive monthly decline
Total industrial production in December was down 1.8% below the December 2014 level.
Total industry capacity utilization dipped to 76.5% (Briefing.com consensus 76.9%) from a revised 76.9% (from 77.0%) in November.
Rates were down for all major industry groups, led by utilities, which fell to 73.2% from 74.8%.
Total business inventories were down 0.2% in November following a downwardly revised 0.1% decrease (from 0.0%) in October. (Briefing.com consensus unchanged)
Retailer inventories increased 0.2% in November on top of a 0.1% increase in October.
The inventory-to-sales ratio was unchanged at 1.38; this is up from the same period a year ago when the ratio stood at 1.32.
The preliminary reading for the University of Michigan Index of Consumer Sentiment for January was 93.3 (Briefing.com consensus, which was at 92.6.)
This was up from the final December reading of 92.6
The improvement stemmed from a better Consumer Expectations component, which increased to 85.7 from 82.7.
The increase in expectations outweighed a drop in the Current Economic Conditions Index, which decreased to 105.1 from 108.1.

The market will be closed on Monday, in observation of Martin Luther King, Jr. Day.

Tuesday's economic data will be limited to the 10:00 ET release of the NAHB Housing Market Index (Briefing.com consensus 61).

Russell 2000 -11.3% YTD
Nasdaq -10.4%
Dow Jones -8.3% YTD
S&P 500 -8.0% YTD

Week in Review: Stocks Extend January Slide

The second trading week of 2016 was not much better than the first as the stock market extended its January decline.

To be fair, volatility between Monday and Thursday left the S&P 500 flat for the week as of Thursday's close, but broad-based selling on Friday sent the benchmark index to its lowest level since October 2014. Furthermore, the S&P 500 registered its lowest weekly close since April 2014 with nine sectors posting weekly losses between 0.2% (telecom services) and 4.4% (materials). The countercyclical utilities sector (+0.7%) eked out a slim gain for the week as lower Treasury rates kept the rate-sensitive sector afloat.

Investor focus remained on China at the start of the week as the People's Bank of China took steps to stamp out speculation in the yuan. As a result, offshore yuan liquidity tightened, sending the overnight Hong Kong Interbank Offered Rate to 66.8%. The rate dropped to 2.1% by week's end, but the People's Bank of China was not done there, engaging in large-scale liquidity injections into capital markets.

Despite the fervent efforts from the PBoC, the Shanghai Composite lost 9.0% for the week, widening its January drop to 18.0%.

The dive in global equities was accompanied by selling in the energy market which pressured crude oil to its lowest level since late 2003. WTI crude ended the week lower by 11.2% at $29.45/bbl with Friday's 5.7% slide taking place amid expectations that the International Atomic Energy Agency will release a report that will pave the way to lifting oil export sanctions on Iran.

Speaking of reports, the market received the first batch of quarterly earnings with results from the financial sector coming in roughly in line with expectations. However, it is worth noting that both Citigroup and JPMorgan Chase increased their loan loss reserves for the first time in six years due to their exposure to the energy sector.

3:40 pm: [BRIEFING.COM]

Crude oil prices were the big story of the day
WTI crude oil futures lost over 5% this morning primarily on fears that additional barrels of oil will soon hit the market from Iran, following IAEA report
Today, is was news that the U.N. International Atomic Energy Agency (IAEA) may issue a report, confirming that Iran has curtailed its nuclear program
Either way, what's most important is the color on how much and when will Iran hit the market with more
Feb crude oil finished out today's session -5.7% at $29.45/barrel
In other energy, Feb nat gas lost -1.9% to end at $2.10/MMBtu
Moving over to the metals copper lost buying interest today, falling 1.5% to end at $1.95/lb
Precious metals, however, gained some steam
Feb gold rose +$17.50 to close at $1090.90/oz, while Mar silver rose 1% to $13.91/oz

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trading, equities have seen a recent uptick. The Nasdaq (-2.8%) remains behind the S&P 500 (-2.3%) and the Dow Jones Industrial Average (-2.3%) as all three trim some losses.

Rounding out the leaderboard, financials (-3.5%), technology (-3.3%), and energy (-3.3%) underperform. The countercylical sectors maintain their lead over the rest of the sectors with utilities (-1.0%), telecom services (-1.3%), and consumer staples (-1.6%). In recent trade, industrials (-1.8%) has narrowly over taken health care (-1.8%) on the top of the board. This is due to poor performances in biotechnology, evidenced by the 3.4% decline in the iShares Nasdaq Biotechnology ETF (IBB 281.56 -9.87).

In the consumer discretionary space (-1.9%), despite the broad based selling pressure of today's decline, Time Warner (TWX 69.56, -0.98) and Comcast (CMCSA 54.03, -1.00) have shown relative strength with declines of 1.4% and 1.8%, respectively. Elsewhere in the group, Nike (NKE 57.92, -0.58) outperforms while Amazon (AMZN 568.27, -27.74) trails the sector with a loss of 4.0%.

2:30 pm:

[BRIEFING.COM] The major averages float below their worst levels with the Nasdaq (-3.5%) trailing the S&P 500 (-3.0%).

In front of the pack, telecom services (-1.4%), utilities (-1.8%), health care (-1.9%), and consumer staples (-2.0%) lead while financials (-3.7%), energy (-3.6%), technology (-3.4%), and materials (-2.3%) trail.

The Dow Jones Transportation Average (-2.1%), has outperformed thanks to strong performances from C.H. Robinson (CHRW 63.44, +0.31) and Landstar Systems (LSTR 55.47, +0.18). The two names trade higher by 0.5% and 0.3%, respectively. Elsewhere in the composite, FedEx (FDX 126.46, -5.24) underperforms the composite, declining 4.1%.

Looking at commodities, WTI crude has ended its pit session with a decline of 5.7% at $29.45/bbl.

Switching to Treasuries, the benchmark note has notched a new high with the yield on the 10-yr note lower by seven basis points.

2:00 pm:

[BRIEFING.COM] As afternoon trading wears on, the major averages have ticked up past their recent levels with the tech-heavy Nasdaq (-3.0%) trailing the S&P 500 (-2.6%) and the Dow Jones Industrial Average (-2.6%).

Rounding out the leaderboard, financials (-3.8%), energy (-3.3%), and technology (-3.3%) show the widest losses. On the flipside, the countercyclical sectors top the board with losses between telecom service (-1.7%) and consumer staples (-2.1%).

Looking at the health care space (-2.0%), AbbVie (ABBV 56.24, +1.68) outperforms after yesterday's announcement that U.S. Patent officials have denied a challenge by Amgen (AMGN 150.02, -3.14), regarding AbbVie's Humira formula. Elsewhere in the space, biotechnology shows relative weakness, evidenced by the 3.1% decline in the iShares Nasdaq Biotechnology ETF (IBB 282.08, -9.36).

Switching to commodities, WTI crude trades above its session low, but remains down by 5.5% at $29.45/bbl. Elsewhere in commodities, safe haven investors have flocked to gold, as the precious metal sports a gain of 1.5% at $1,089.80/ozt.

In Treasuries, the benchmark note trades near is high with the yield on the 10-yr lower by six basis points at 2.03%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices remain under heavy pressure in afternoon trading, but sit notably above their intra-day lows.

A look inside the Dow Jones Industrial Average shows that all 30 Dow components are in negative territory with the heaviest losses being seen in Intel (INTC 30.02, -2.72), Walt Disney (DIS 94.19, -4.92), and DuPont (DD 54.62, -2.78). Intel is lower after reporting its Q4 earnings and offering in-line Q1 guidance. The company also adjusted its FY16 guidance to account for the recently closed acquisition of Altera. Disney meanwhile is under pressure after being downgraded to Underweight at Barclays.

The Dow's best performer is Home Depot (HD 118.96, -0.66) as the Do-It-Yourself home retailer displays relative strength having underperformed yesterday. After yesterday's poor showing, HD fares much better with today's attempt to stabilize around its 200-day ema/sma and 3-month support zone near 117/118.

With today's selloff, the DJIA has extended its 2016 year-to-date lossed to 8.8%

1:05 pm:

[BRIEFING.COM] The major indices hover above their worst levels of the day after an aggressive selloff through the first half. Today's session has marked a new 52-week low in the benchmark index as it has surrendered more than 52 points this session. The averages have slipped as oil concerns and poor economic data weigh on the beleaguered stock market. The Nasdaq (-3.5%) trails the S&P 500 (-3.0%) and the Dow Jones Industrial Average (-2.8%).

Overnight, WTI crude was pressured by news that the International Atomic Energy Agency may announce that Iran is in compliance with an agreement to restrict the country's nuclear program. This move is expected to help lift sanctions against the country and to lead to the re-establishment of oil trade. In response to this, WTI crude surrendered the $31.00/bbl price level overnight. This helped weigh on international indices heading into the open. Currently the energy-component is down 5.9% at $29.37/bbl.

Futures extended their losses when a slew of poor economic data was released this morning. Specifically of note, the Empire Manufacturing report fell to -19.4 in January (Briefing. com consensus -3.5) and the U.S. Retail Sales report for December showed a decline of 0.1% (Briefing.com consensus +0.1%).

On the leaderboard, financials (-4.2%), energy (-4.2%), technology (-3.6%), and materials (-2.8%) post the steepest losses. Meanwhile, in front of the pack, countercylical utilities (-1.8%), telecom services (-1.8%), consumer staples (-2.1%), and health care (-2.2%) outperform.

Looking in the financial sector, large-caps Wells Fargo (WFC 48.57, -2.07) and Citigroup (C 42.41, -2.96) underperform after both companies announced Q4 earnings this morning. Wells Fargo showed earnings and revenue in-line with consensus. Meanwhile, Citigroup reported in-line EPS with a revenue beat. The two stocks trade lower by 4.1% and 6.5%, respectively. Citigroup is likely suffering because it announced a $549 million loan loss reserve build mirroring JPMorgan Chase's (JPM 56.52, -1.67) news after their Q4 results yesterday. Both Citigroup and JPMorgan Chase have increased their loan loss reserves due to positions in their energy portfolios.

In the heavily-weighted technology space, high-beta chipmakers show relative weakness, evidenced by the 5.2% decline in the PHLX Semiconductor Index. The sub-group is showing relative weakness after constituent Intel (INTC 29.88, -2.86) reported earnings this morning. Despite reporting a beat, the stock is down 8.7%, likely due to a $200 million decline in operating income. Meanwhile, large-cap constituents Facebook (FB 94.66, -3.67), Microsoft (MSFT 50.87, -2.23), and Apple (AAPL 96.62, -2.90) have kept pace with the retreat, declining between 2.2% and 3.5%, apiece.

Heavy selling pressure in equities has pushed Treasuries to their highs. The benchmark note yield is lower by six basis points at 2.03%.

Economic data released today included December PPI, December Retail, January Empire Manufacturing Index, December Industrial Production report, November Business Inventories, and the preliminary reading of the Michigan Sentiment Index for January.

The Producer Price Index report for December produced a 0.2% decline
The downtick in the final demand index was due to a 0.7% decline in prices for final demand goods.
The index for final demand services ticked up 0.1%.
On a year-over-year basis, the index for final demand is down 1.0%, which is the eleventh consecutive 12-month decline.
Core PPI is up 0.3%. core PPI, which excludes food and energy, increased 0.1%.
December Retail Sales report decreased 0.1% (Briefing.com consensus +0.1%) while sales ex-auto also decreased 0.1% (Briefing.com consensus 0.3%).
Total sales for 2015 were up 2.1% from 2014 while Q4 sales rose 1.8% year-over-year.
Empire Manufacturing Survey for January registered a reading of -19.4, which was below the prior month's revised reading of -6.2 (from -4.6) (Briefing.com consensus -3.5)
Industrial production declined 0.4% in December with a revised 0.9% decline (from -0.6%) in November. (Briefing.com consensus -0.2%)
That was the fifth consecutive monthly decline
Total industrial production in December was down 1.8% below the December 2014 level.
Total industry capacity utilization dipped to 76.5% (Briefing.com consensus 76.9%) from a revised 76.9% (from 77.0%) in November.
Rates were down for all major industry groups, led by utilities, which fell to 73.2% from 74.8%.
Total business inventories were down 0.2% in November following a downwardly revised 0.1% decrease (from 0.0%) in October. (Briefing.com consensus unchanged)
Retailer inventories increased 0.2% in November on top of a 0.1% increase in October.
The inventory-to-sales ratio was unchanged at 1.38; this is up from the same period a year ago when the ratio stood at 1.32.
The preliminary reading for the University of Michigan Index of Consumer Sentiment for January was 93.3 (Briefing.com consensus, which was at 92.6.)
This was up from the final December reading of 92.6
The improvement stemmed from a better Consumer Expectations component, which increased to 85.7 from 82.7.
The increase in expectations outweighed a drop in the Current Economic Conditions Index, which decreased to 105.1 from 108.1.

12:30 pm:

[BRIEFING.COM] The major averages have marked new session lows in recent trade with the Nasdaq (-3.8%) trailing the S&P 500 (-3.2%).

The leaderboard remains little changed with financials (-4.2%), energy (-4.2%), and technology (-4.0%) showing the steepest declines. The countercyclicals each sport the slimmest losses with utilities (-1.7%) and telecom services (-1.9%) vying for the top spot.

In the consumer discretionary space (-2.5%), Dow component Home Depot (HD 119.21, -0.42) outperforms with a downtick of 0.4%. Elsewhere, sector large-cap Disney (DIS 93.88, -5.25) has underperformed the space following a downgrade to 'Underweight' at Barclays. Disney posts a 4.8% decline thus far. Other sector notable, Netflix (NFLX 102.25, -4.76) has slid 4.5%.

In Treasuries, the benchmark note trades near its high with the yield on the 10-yr note lower by six basis points at 2.03%.

12:00 pm:

[BRIEFING.COM] The major indices trades just above their lows with the Dow Jones Industrial Average (-2.5%) leading the S&P 500 (-2.6%) and the Nasdaq (-3.2%).

On the bottom of the leaderboard, financials (-3.7%), energy (-3.7%), technology (-3.4%), and materials (-2.5%) pace the retreat while countercyclical utilities (-1.2%), telecom services (-1.3%), consumer staples (-1.5%), and health care (-1.8%) outperform.

In the energy space, Dow-component Chevron (CVX 82.29, -3.18) paces the sector decline with a loss of 3.7%. Elsewhere, independent oil and gas companies ConocoPhillips (COP 38.99m -2.26) and Anadarko Petroleum (APC 32.08, -292) have plummeted 5.7% and 8.3%, respectively. These price swings come as crude oil has trades down 5.4% at $29.50/bbl. Pipeline companies like Kinder Morgan (KMI 12.93, -1.04), haven't been helped by a 1.7% decline in natural gas, which has the commodity trading at $2.10/MMbtu.

Moving to Treasuries, the benchmark note trades near its session high with the yield on the 10-yr note lower by six basis points at 2.03%.

11:35 am:

[BRIEFING.COM] The major averages hover above their lows as the tech-heavy Nasdaq (-3.0%) trails the S&P 500 (-2.4%).

Energy (-3.5%), financials (-3.4%), technology (-3.3%), and materials (-2.5%) round out the leaderboard while utilities (-1.2%), telecom services (-1.3%), and consumer staples (-1.4%) outperform.

Looking in the financial sector, large-caps Wells Fargo (WFC 48.94, -1.70) and Citigroup (C 42.42, -2.95) underperform. Both companies announced Q4 earnings this morning, with Wells Fargo coming in-line on earnings and revenue while Citigroup reported in-line EPS with a revenue beat. The two stocks trade lower by 3.6% and 6.6%, respectively. To be fair though, Citigroup may be faring worse because it announced a $549 million loan loss reserve build. This mirrored JPMorgan Chase (JPM 57.08, -1.12) news after their Q4 results yesterday. Both Citigroup and JPMorgan Chase added these loan loss reserve builds due to positions in their energy portfolios.

Switching to commodities, WTI crude trades in the middle of its trading range with oil currently showing a loss of 2.4% at $29.53/bbl.

11:00 am:

[BRIEFING.COM] The major averages have ticked up off their lows but still show heavy losses. The Nasdaq (-2.9%) remains behind the S&P 500 (-2.3%) and the Dow Jones Industrial Average (-2.2%).

Rounding out the leaderboard, energy (-3.6%), financials (-3.3%), technology (-3.2%), and industrials (-2.0%) trail. In front of the pack, utilities (-1.0%), consumer staples (-1.2%), and telecom services (-1.3%) outperform.

In the heavily-weighted technology space, high-beta chipmakers show relative weakness, evidenced by the 4.3% decline in the PHLX Semiconductor Index. The sub-group is showing relative weakness after constituent Intel (INTC 29.75, -2.99) has declined 9.1% after reporting earnings this morning. Despite reporting a beat, concerns were raised regarding operating income declining $200 million. Elsewhere, large-cap constituents Facebook (FB 94.40, -3.97), Microsoft (MSFT 51.17, -1.94), and Apple (AAPL 96.18, -3.34) have outpaced the retreat, declining between 3.4% and 4.1%, apiece.

Moving to Treasuries, the benchmark note trades near its high with its yield lower by six basis points at 2.03%.

10:35 am: [BRIEFING.COM]

WTI crude oil futures down over 5% this morning primarily on fears that additional barrels of oil will soon hit the market from Iran , following IAEA report.
Today, the U.N. International Atomic Energy Agency (IAEA) may issue a report, confirming that Iran has curtailed its nuclear program
This may provide a date when Iran can actually begin to boost production/exports
The global oil market is producing more oil than it is using, so if Iran decides to flood the market, that would hurt prices more
Iran has made a few comments on this topic in the last six months
One statement made by Iran was that the country would boost exports by one million barrels within one year
That is a big number... however, let's see what actually plays out in the coming days
More recently, Iran said that it doesn't want a price war with Saudi Arabia and will produce only if the demand is there
We're doubting they will actually flood the market
In other commodities, natural gas futures are lower again. Feb NG is now -1.9% at $2.10/MMBtu
Gold and silver are pulling back right now off of today's high
Feb gold is now +1.3% at $1087.40/oz, while Mar silver is +1% at $13.89/oz
Copper is -1.2% at $1.95/lb

10:05 am:

[BRIEFING.COM] The S&P 500 trades lower by 2.6%

Just released, the preliminary reading of the University of Michigan Consumer Sentiment survey for January increased to 93.3 (Briefing.com consensus 92.6) from the reading of 92.6 that was reported in December.

Separately, Business Inventories were fell 0.2% in November while the Briefing.com consensus expected no change.

9:45 am:

[BRIEFING.COM] The major averages have plunged into the open with the Nasdaq (-2.5%) pacing the retreat while the Dow Jones Industrial Average (-2.2%) and S&P 500 (-2.2%) follow.

The opening weakness encompassed all ten sectors but financials (-3.2%), energy (-3.0%), and technology (-2.5%) are the hardest hit sectors. On the flipside, telecom services (-0.6%), utilities (-0.8%), and consumer staples (-1.4%) show the slimmest losses.

Treasuries have inched away from their pre-market highs, but due to market backtracking, the benchmark note's yield is lower by six basis points at 2.03%.

In commodities, WTI crude has ticked off its low but remains down 4.3% at $29.86/bbl.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -47.00. Nasdaq futures vs fair value: -128.70.

The stock market is on track for a sharply lower open with S&P 500 futures trading 47 points below fair value.

Overnight futures fell as WTI crude surrendered the $30.00/bbl price level ahead of an announcement from the Atomic Energy Agency. Their decision could result in sanctions against Iran being lifted, thereby re-opening oil trade with the country. WTI crude slid to 12 year lows overnight and currently trades lower by 4.8% at $29.71/bbl.

Futures were pushed lower as poorer than expected economic data weighed on futures. December producer prices declined 0.2% (Briefing.com consensus +0.1%) while core producer prices increased 0.1% (Briefing.com consensus +0.1%). Separately, December retail sales declined 0.1% (Briefing.com consensus +0.1%), demonstrating weakness in consumer spending. This report serves as a barometer for one-third of total consumer spending, with the remainder coming from consumer spending on services, which are not reflected there. Finally, the Empire Manufacturing Survey for January registered a reading of -19.4 (Briefing.com consensus -3.5) as dollar strength headwinds likely impact manufacturing.

In corporate news, Citigroup (C 43.90, -1.48) and Wells Fargo (WFC 48.60, -2.04) are both trading lower despite posting posting in-line results in their earnings reports this morning. The two names trade lower by 3.3% and 4.0%, respectively.

Also of note, the just-released Industrial Production report pointed to a decrease of 0.4% in December (Briefing.com consensus -0.2%) while capacity utilization hit 76.5% (Briefing.com consensus 76.9%).

8:59 am: [BRIEFING.COM] S&P futures vs fair value: -44.50. Nasdaq futures vs fair value: -122.70.

The S&P 500 futures trade 45 points below fair value.

Equity markets across Asia ended the week on a woeful note as renewed selling pressure in crude oil drove the commodity below the $30/bbl price level. The tumbling price of oil weighed on risk sentiment and Japan's Nikkei ended lower by 0.5% after starting the session with a solid gain of more than 1.5%. Similarly, China's Shanghai Composite (-3.6%) retreated into the close even though the People's Bank of China reportedly injected more than $15 billion into capital markets.

In economic data:
China's December M2 Money Stock +13.3% year-over-year (expected 13.5%; previous 13.7%), December New Loans CNY597.80 billion (expected CNY700.00 billion; previous CNY708.90 billion), and December Outstanding Loan Growth +14.3% year-over-year (consensus 14.8%; last 14.9%)
Australia's November Home Loans +1.8% month-over-month (expected -0.5%; previous -0.3%)
South Korea's trade surplus narrowed to KRW7.00 billion from KRW7.20 billion as imports fell 19.2% year-over-year and exports decreased 14.1%
New Zealand's December FPI -0.8% month-over-month (consensus 0.2%; last -0.2%)

---Equity Markets---

Japan's Nikkei lost 0.5%, registering its lowest close of the week. The index lost 3.1% this week and Friday's retreat was paced by financials (-1.2%), technology (-0.7%), and materials (-0.7%). Kawasaki Heavy Industries, Pioneer, Unitika, Furukawa, and Mazda Motor fell between 2.4% and 6.6%. On the upside, Sharp spiked 14.7% amid reports a government-backed fund has explored investing in the troubled company.
Hong Kong's Hang Seng surrendered 1.5% on Friday, losing 4.6% for the week. All but two index components posted losses with Kunlun Energy, China Petroleum & Chemical, and CNOOC leading the slide as the three lost between 3.2% and 5.2%. Bank of East Asia and Ping An Insurance also finished among the laggards with respective declines of 3.1% and 3.2%.
China's Shanghai Composite slid 3.6%, falling 9.0% for the week. Agricultural Bank of China, Bank of China, and CITIC Securities lost 1.6%, 3.1%, and 4.5%, respectively while China Shipbuilding and China Petroleum & Chemical both surrendered near 4.0% apiece.

Major European indices trade broadly lower as widespread defensive sentiment takes its toll on regional equity markets. The trading day began on a modestly lower note and more selling has filtered through since then. In general, the main focus has been on the retreat in equities while news flow has been relatively light.

In economic data:
Eurozone November trade surplus narrowed to EUR23.60 billion from EUR24.10 billion
Spain's December CPI -0.3% month-over-month, as expected; 0.0% year-over-year, as expected
Italy's December CPI 0.0% month-over-month, as expected; +0.1% year-over-year, as expected
France's Government Budget deficit widened to EUR82.80 billion from EUR76.20 billion

---Equity Markets---

Germany's DAX trades down 2.6% with all 30 components in negative territory. Lanxess, E.On, ThyssenKrupp, Volkswagen, and Continental are among the weakest index members with losses between 2.4% and 3.6%. Elsewhere, Deutsche Bank and Commerzbank are both down near 1.7%.
France's CAC is lower by 2.3% amid broad weakness. ArcelorMittal has tumbled 4.8% while Solvay, Technip, Safran, and Renault show losses close to 3.0% apiece. As for financials, Societe Generale and BNP Paribas hold respective losses of 2.1% and 1.7%.
UK's FTSE has given up 2.0% with miners leading the slide. Anglo American, Glencore, BHP Billiton, and Rio Tinto show losses between 5.0% and 9.7%. On the flip side, Shire has spiked 2.8%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: -37.20. Nasdaq futures vs fair value: -98.90.

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

December producer prices declined 0.2% while the Briefing.com consensus expected a downtick of 0.1%. Core producer prices increased 0.1% while the consensus expected an increase of 0.1%.

Separately, December retail sales declined 0.1% while the Briefing.com consensus expected an increase of 0.1%. The prior month's reading was revised to 0.5% from 0.2%. Excluding autos, retail sales declined 0.1% while the consensus expected an increase of 0.3%.

The Empire Manufacturing Survey for January registered a reading of -19.4, which was below the prior month's revised reading of -6.2 (from -4.6) and above the Briefing.com consensus estimate, which was pegged at -3.5.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: -29.20. Nasdaq futures vs fair value: -79.50.

U.S. equity futures trade near their pre-market lows with S&P 500 futures trading 29 points below fair value.

In Treasuries, the benchmark note sits nears its high with the yield on the 10-yr note lower by five basis points at 2.04%.

Switching to commodities, WTI crude has surrendered the $30.00/bbl price level overnight, ahead of an announcement from the Atomic Energy Agency that could note Iran's compliance with an agreement to restrict its nuclear program. This announcement could lift sanctions against the country, including those that prohibit oil trade with Iran. WTI crude trades lower by 5.3% at $29.54/bbl.

On the economic front, December CPI (Briefing.com consensus +0.1%), December Retail Sales (Briefing.com consensus +0.1%) and January Empire Manufacturing Index (Briefing.com consensus -3.5) will be reported at 8:30 ET. The December Industrial Production report (Briefing.com consensus 77.5%) will cross the wires at 9:15 ET while November Business Inventories (Briefing.com consensus +0.0%) and the preliminary reading of the Michigan Sentiment Index for January (Briefing.com consensus 92.6) will both be released at 10:00 ET.

In U.S. corporate news of note:

Intel (INTC 30.75, -1.99): -6.1% after the company reported a 4Q operating income decline of $200 million despite an earnings beat with in-line revenue
Goldman Sachs (GS 159.79, -1.60):-1.0% following news of a $5 billion dollar settlement of federal and state claims regarding their role in the mortgage crisis
General Electric (GE 28.66, -0.40): -1.4% on news that the company would divest its appliance unit to Chinese company Haier for $5.4 billion in a transaction to close mid-2016
BlackRock (BLK 310.00, +0.00): UNCH following the company reporting a 4Q earnings miss with EPS of $4.75 and in-line revenue

Reviewing overnight developments:

Asian indices ended their week under heavy selling pressure with China's Shanghai Composite -3.6%, Hong Kong's Hang Seng -1.5%, and Japan's Nikkei -0.5%.
In economic data:
China's December M2 Money Stock +13.3% year-over-year (expected 13.5%; previous 13.7%), December New Loans CNY597.80 billion (expected CNY700.00 billion; previous CNY708.90 billion), and December Outstanding Loan Growth +14.3% year-over-year (consensus 14.8%; last 14.9%)
Australia's November Home Loans +1.8% month-over-month (expected -0.5%; previous -0.3%)
South Korea's trade surplus narrowed to KRW7.00 billion from KRW7.20 billion as imports fell 19.2% year-over-year and exports decreased 14.1%
New Zealand's December FPI -0.8% month-over-month (consensus 0.2%; last -0.2%)
In news:
China's Shanghai composite lead the retreat despite a reported $15 billion injection into the capital markets by the People's Bank of China.

European indices trade broadly lower with the U.K.'s FTSE -1.3%, France's CAC -1.3%, and Germany's DAX -1.2%.
In economic data:
Eurozone November trade surplus narrowed to EUR23.60 billion from EUR24.10 billion
Spain's December CPI -0.3% month-over-month, as expected; 0.0% year-over-year, as expected
Italy's December CPI 0.0% month-over-month, as expected; +0.1% year-over-year, as expected
France's Government Budget deficit widened to EUR82.80 billion from EUR76.20 billion

6:40 am: [BRIEFING.COM] S&P futures vs fair value: -32.50. Nasdaq futures vs fair value: -88.00.

6:08 am: [BRIEFING.COM] Nikkei...17147...-93.80...-0.50%. Hang Seng...19521...-296.60...-1.50%.

6:08 am: [BRIEFING.COM] FTSE...5838.35...-79.90...-1.40%. DAX...9663.23...-131.00...-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


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr