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 Post subject: January 19th Tuesday Trade Results - Profit $10812.50
PostPosted: Wed Jan 20, 2016 3:53 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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011916-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+10812.50.png
011916-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+10812.50.png [ 93.55 KiB | Viewed 311 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 @ $10812.50 dollars or +216.25 points, Light Crude Oil CL ($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 @ $10812.50 dollars

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

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=152&t=2269

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 averages ended the first session of the abbreviated week above their flat lines, as pressure regarding global growth and lower oil prices weighed on the market's early rally. Today's session began sharply higher after a miss in China's Q4 GDP report invited speculation regarding potential stimulus from the People's Bank of China, but soon the realities of shrinking global growth and a persisting oil glut pressured the market lower. The Nasdaq (-0.3%) registered the largest decline while the Dow Jones Industrial Average (+0.2%) and the S&P 500 (+0.1%) outperformed.

Last night, China released its Q4 GDP report, which showed that quarter-over-quarter GDP growth came in at 1.6% while year-over-year GDP growth was reported at 6.8%. Additionally, China reported below-consensus Industrial Production (5.9% vs 6.0%) and Retail Sales (11.1% vs 11.3%) in December. This was the slowest GDP reading since 2009 and prompted heavy speculation that the People's Bank of China would institute new stimulus measures to combat the growth issues. To that point, a late afternoon report from China Securities Journal argued for a cut to the reserve requirement ratio.

European indices, U.S. futures, and pre-market crude oil trading were able to benefit from this speculation. Shortly after the U.S. open though the focus shifted to the resulting implications to global growth. On that note, the International Monetary Fund revised its global growth projection to 3.4% for 2016 and 3.6% for 2017 versus prior estimates of 3.6% and 3.8%, respectively. Shortly after the opening bell the major averages met resistance near the upper end of their trading ranges, retreating into the afternoon.

Rounding out the leaderboard, commodity-sensitive energy (-2.1%) and materials (-1.2%) were followed by health care (-0.1%) and technology (-0.1%) while countercyclical utilities (+1.5%), consumer staples (+1.2%), and telecom services ( +1.2%) lead.

Looking at the energy sector, independent oil and gas companies like ConocoPhillips (COP 36.40, -2.96) lead the retreat in the group with a decline of 7.5%. Increased pressure in oil companies came after WTI crude surrendered the $30.00/bbl price level. Oil was able to recover slightly, ending its pit session lower by 2.5% at $29.62/bbl. Elsewhere in the energy space, Dow components Chevron (CVX 81.51, -2.16) and Exxon Mobil (76.40, -1.18) paced the sector's decline.

In the health care space, UnitedHealth Group (UNH 112.58, +3.31) outperformed after the company reported an earnings beat with EPS at $1.40 and reaffirmed its FY 2016 guidance. UnitedHealth Group ended its day 3.0% higher. Fellow large-cap component Eli Lilly (LLY 83.23, +1.99) climbed 2.5% after the company affirmed its earning guidance for 2016 with EPS of $3.45-3.55. Elsewhere in the space, biotechnology showed relative weakness, evidenced by the 2.2% decline in the iShares Nasdaq Biotechnology ETF (IBB 277.84, -6.34).

Switching to financials (UNCH), the group was one of the early leaders until a sharp reversal knocked the sector to the middle of the board. Morgan Stanley (MS 26.26, +0.29) managed to outperforms the space, following a beat on Q4 earnings with EPS of $0.43 and a beat on revenue at $7.74 billion. Elsewhere, Bank of America (BAC 14.24, -0.22) declined 1.5% despite beating earnings estimates on in-line revenue.

In other earnings of note, Dow Jones Transportation Average (-0.5%) component Delta Airlines (DAL 45.96, +1.46) posted the largest advance in the complex after narrowly missing on earnings this morning; however, the carrier raised its Q1 operating margin guidance to 18-20% from 16-17%. Elsewhere in the composite, United Continental (UAL 45.18, -0.49) and JetBlue (JBLU 20.26, -0.43) declined 1.1% and 2.1%, respectively.

Treasuries fell to their lows during the morning rally but were able to move higher during the market pullback. Ultimately, the 10-yr note settled just below its flat line with its yield higher by a basis point at 2.05%.

Today's session saw heavy volume with more than a billion shares changing hands at they NYSE floor.

Today's economic data was limited to the NAHB Housing Market Index, which came in at 60, following a revised reading of 60 in December (from 61) (Briefing.com consensus 61.0).

Tomorrow's economic data includes the weekly MBA Mortgage Index, which will be released at 7:00 ET, while December CPI (Briefing.com consensus 0.0%), December Core CPI (Briefing.com consensus +0.2%), December Housing Starts (Briefing.com consensus 1197k), and Building Permits (Briefing.com consensus 1200k) will cross the wires at 8:30 ET.

Russell 2000 -12.3 YTD
Nasdaq -10.6% YTD
Dow Jones -8.1% YTD
S&P 500 -8.0 YTD

3:40 pm: [BRIEFING.COM]

Iran reported that it will produce 500K barrels/day more oil now that's it's sanctions are lifted
This add to the current oversupply. Many would say that the market has been preparing for this, since the U.S. and other world power agreed months ago to lift the sanctions
WTI crude rose to $31.33/barrel earlier this morning, but lost steam. Mar crude ended the day -$0.77 at $29.62/barrel
Feb nat gas fell one cent to $2.09/MMBtu
Moving on to the metals space, copper ended today's session +1.5% at $1.98/lb
In precious metals, Feb gold slipped $1.60 to $1089.30/oz, while Mar silver gained 2% to $14.13/oz

3:00 pm:

[BRIEFING.COM] As the market enters the last hour of trading, the major indices hover above their session lows. The Dow Jones Industrial Average (-0.3%) outperforms the S&P 500 (-0.6%) and the Nasdaq (-1.0%).

Rounding out the leaderboard, energy (-3.1%), materials (-2.1%), health care (-0.8%), and technology (-0.7%) trail. On the flipside, utilities (+1.0%), telecom services (+0.8%), and consumer staples (+0.8%) lead.

In the materials space, Dow component DuPont (DD 52.72, -1.37) and Dow Chemical (DOW 41.82, -1.13) have paced the retreat in the broader sector with declines of 2.6% and 2.5%, respectively. Elsewhere, chemical company FMC Corp (FMC 34.21, -0.83) underperforms with a 2.4% loss.

Moving on to specific company news, Tiffany & Co (TIF 63.67, -3.98) has declined 5.9% after receiving a downgrade at Mizuho, which lowered the target price on the company from $90 to $75. Mizuho cited weaker than expected holiday sales for the reason for the downgrade.

Switching to Treasuries, the benchmark note has ticked lower from its high and the yield on the 10-yr note remains unchanged at 2.03%.

2:30 pm:

[BRIEFING.COM] The major indices have all dipped beneath their flat lines with the tech-heavy Nasdaq (-0.9%) trailing the S&P 500 (-0.5%).

Only three sectors remain in positive territory with energy (-2.9%), materials (-2.1%), health care (-0.8%), and technology (-0.6%) trailing. In front of the pack, utilities (+1.0%), telecom services (+1.0%), and consumer staples (+0.8%) lead.

In the Dow Jones Transportation Average (-1.2%), Delta Airlines (DAL 45.46, +0.98) is one of two components trading in the green, and the only airline to not post a loss. Surprisingly, Delta narrowly missed on earnings this morning but the market has focused on the company raising its Q1 operating margin to 18-20% from 16-17%. Elsewhere in the composite, fellow airlines United Continental Holdings (UAL 44.84, -0.83), JetBlue (JBLU 20.19, -0.50), and Southwest Airlines (LUV 39.24, -0.53) have declined between 1.45 and 2.5%.

Looking at commodities, WTI crude looks to end its pit session near its low with oil trading lower by 2.6% at $29.59/bbl.

Moving to Treasuries, the benchmark note has ticked higher to a new session high with the yield on the 10-yr lower by one basis point at 2.02%.

2:00 pm:

[BRIEFING.COM] As afternoon trading continues the major averages trade near their flat lines with the Dow Jones Industrial Average (+0.2%) leading the S&P 500 (UNCH) and the Nasdaq (-0.3%).

Rounding out the leaderboard, energy (-1.8%), materials (-1.4%), industrials (-0.2%), and health care (-0.1%) lag behind. In front of the pack, telecom services (+1.2%), utilities (+1.2%), and consumer staples (+1.1%) outperform.

In the energy sector, ConocoPhillips (COP 36.64, -2.72) has lead the retreat in the group, plummeting 7.0% due to continued pressure in oil. Meanwhile, Dow components Chevron (CVX 82.22, -1.44) and Exxon Mobil (76.37, -1.19) have been able to keep pace with the sector, with declines of 1.7% and 1.5%, respectively. On a related note, WTI crude has surrendered the $30.00/bbl price level and trades lower by 2.2% at $29.73/bbl.

Switching to Treasuries, the benchmark note trade near its high with its yield lower by one basis point at 2.03%.

1:35 pm:

[BRIEFING.COM] The major US indices are currently mixed having surrendered nearly all of this morning's gains.

A look inside the Dow Jones Industrial Average shows that UnitedHealth Group (UNH 112.16, +2.89), Procter & Gamble (PG 76.28, +1.30), and Nike (NKE 58.49, +0.93) are outperforming. UNH is leading the Dow higher after reporting better than expected Q4 results and reaffirming its Q4 guidance. Meanwhile, P&G is in positive territory after being upgraded to Buy from Hold at Stifel.

Conversely, DuPont (DD 53.46, -0.63) is the worst-performing Dow component as materials, today's worst performing sector, lag.

Today's small gains in the DJIA have limited 2016's year-to-date losses to 8%.

1:05 pm:

[BRIEFING.COM] The stock market has slid from its opening high as equity indices struggle to stay in the green. The major averages gapped higher to begin the session, but have since been unable to find the momentum to build on those price levels. A disappointing GDP report from China has reinforced persistent growth concerns, overshadowing a batch of mostly better than expected earnings. The Dow Jones Industrial Average (+0.4%) leads the S&P 500 (0.3%) and the tech-heavy Nasdaq (UNCH).

Overnight, China reported quarter-over-quarter Q4 GDP growth of 1.6% and year-over-year GDP growth of 6.8%. Global markets advanced on the news, but for all the wrong reasons, considering the report has invited speculation regarding potential stimulus measures from the People's Bank of China. European indices, U.S. futures, and crude oil were able to capitalize on this attention shift and rallied in immediate reaction. Oil was not able to maintain its footing into the U.S. open and WTI crude has slipped 1.2% to $30.03/bbl.

Before the opening bell, Morgan Stanley (MS 26.13, +0.16) and Bank of America (BAC 14.04, -0.42) reported Q4 earnings beats. The initial response had the stocks up with respective gains of 3.0% and 2.0%. This has since fizzled out with the companies showing performances of +0.6% and -2.9%, respectively.

On top of the leaderboard, financials (+1.2%), telecom services (+1.2%), utilities (+1.1%), and consumer staples (+1.1%) lead while materials (-0.9%), energy (-0.9%), and technology(-0.1%) trail.

In the financial sector, CME Group (CME 86.33, +1.64) outperforms with a gain of 1.9% while Morgan Stanley and Goldman Sachs (GS 156.79, +1.18) underperform the broader sector with upticks of 0.6%, apiece. This is ahead of Goldman Sach's earnings release before tomorrow's opening bell.

Switching to the health care space (+0.3%), UnitedHealth Group (UNH 112.73, +3.44) has outperformed thus far today with an advance of 3.2%. This followed the company reporting an earnings beat with EPS at $1.40. In addition, UnitedHealth reaffirmed its FY 2016 guidance with EPS of $7.60-7.80 and revenue of $180 billion. Fellow large-cap component Eli Lilly (LLY 84.02, +2.78) outperforms with a 3.4% climb after the company affirmed its earning guidance for 2016 with EPS of $3.45-3.55. Elsewhere in the space, biotechnology has shown relative weakness, evidenced by the 1.2% decline in the iShares Nasdaq Biotechnology ETF (IBB 280.86, -3.32).

In the technology space, sector large-cap Apple (AAPL 96.64, -0.49) is down 0.5% despite remarks from Goldman Sachs, stating that a miss in iPhone sales may already be priced in. The firm also kept the company on their Conviction Buy List with a price target of $155. Elsewhere in the group, the high-beta chipmakers show relative strength, evidenced by the 0.6% gain in the PHLX Semiconductor Index. The sub-group is being led by component NVIDIA (NVDA 27.62, +0.51), which has gained 1.8% thus far today.

Treasuries have moved to new highs as the opening rally lost steam. The benchmark note trades on its session high with the yield on the 10-yr note lower by one basis point at 2.03%.

Today's economic data was limited to the NAHB Housing Market Index. The NAHB Housing Market Index for January came in at 60 from a revised 60 in December (from 61) (Briefing.com consensus 61.0)

12:30 pm:

[BRIEFING.COM] The major averages have slid towards new session lows with the Dow Jones Industrial Average (+0.2%) leading the S&P 500 (+0.2%) and the Nasdaq (-0.1%).

Commodity-sensitive materials (-0.8%) and energy (-0.8%) remain the only two sectors in the red while financials (+1.0%), telecom services (+0.9%), utilities (+0.9%), and consumer staples (+1.0%) lead.

In the technology space (UNCH), sector large-cap Apple (AAPL 96.33, -0.80) is down 0.8% despite strong remarks from Goldman Sachs, stating that a miss in iPhone sales is already priced in. Furthermore, the firm kept the company on their Conviction Buy List with a price target of $155. Fellow, large-cap Microsoft (MSFT 50.63, -0.36) also appears to be struggling after it announced its acquisition of MincraftEdu. Elsewhere in the group, the high-beta chipmakers show relative strength, evidenced by the 0.3% uptick in the PHLX Semiconductor Index. The sub-group is being led by component Nvidia (NVDA 27.50, +0.40) which has gained 1.5% thus far today.

Switching to commodities, WTI crude has ticked back near its low with a loss of 1.1% at $30.06/bbl.

11:55 am:

[BRIEFING.COM] The major averages have moved into the upper half of their day's trading range with the S&P 500 (+0.7%) leading the Nasdaq (+0.4%).

On top of the leaderboard, financials (+1.6%) have extended their gain with consumer staples (+1.2%), telecom services (+1.1%), and utilities (+1.1%) following. On the bottom of the board, materials (-0.3%), energy (+0.2%), and technology (+0.5%) trail the pack.

Looking at the consumer discretionary space (+0.95), sector large-cap Nike (NKE 58.66, +1.10) outperforms the group following news that the company has extended its contract with Ohio State University. Nike signed a 15 year $252 million dollar contract with the University. Elsewhere in the space, Netflix (NFLX 106.22) outperforms ahead of its Q4 earnings release after today's closing bell.

In Treasuries, the benchmark note remains high with the yield on the 10-yr note now unchanged at 2.04%.

11:30 am:

[BRIEFING.COM] The major averages have just ticked higher off of their session lows. The Dow Jones Industrial Average (+0.6%) leads the S&P 500 (+0.5%) and the Nasdaq (+0.3%).

On the leaderboard, financials (+1.6%), consumer staples (+1.1%), utilities (+0.9%), and telecom services (+0.9%) outperform while materials (-0.3%), energy (UNCH), and technology (+0.3) lag behind.

In the health care space (+0.4%), UnitedHealth Group (UNH 112.49, +3.22) outperforms with a 3.0% gain after reporting an earnings beat with EPS at $1.40. In addition, UnitedHealth reaffirmed its FY 2016 guidance with EPS of $7.60-7.80 and revenue of $180 billion. Fellow large-cap component Eli Lilly (LLY 84.03, +2.79) outperforms with a 3.4% climb after the company announced the submission of a new drug application with Incyte (INCY 75.27, -1.68). Eli Lilly also affirmed its earning guidance for 2016 with EPS of $3.45-3.55. Elsewhere in the space, biotechnology shows relative weakness, evidenced by the 1.1% decline in the iShares Nasdaq Biotechnology ETF (IBB 281.00, -3.18).

Switching to commodities, WTI crude has declined 0.8% to $30.14/bbl.

11:00 am:

[BRIEFING.COM] The major averages have slid sharply to the middle of their trading ranges with the S&P 500 (+0.5%) and the Nasdaq (+0.5%) pacing each other.

On top of the leaderboard, financials (+1.5%), consumer discretionary (+0.9%), consumer staples (+0.9%), and health care (+0.7%) lead while materials (-0.4%), energy (-0.2%), and telecom services (+0.4%) trail.

Looking in the financial sector, Morgan Stanley (MS 26.57, +0.59) outperforms in the space, following the company announcing a beat on Q4 earnings with EPS of $0.43 and a beat on revenue at $7.74 billion. Fellow group member, Goldman Sachs (GS 156.57, +0.96) underperforms the broader sector with an uptick of 0.6%. This is ahead of its earnings release before tomorrow's opening bell. Elsewhere in the financial group, Bank of America (BAC 14.29, -0.17) has declined 1.1% despite reporting a beat on its Q4 earnings on in-line revenue.

Moving to commodities, WTI crude has notched higher from its low but remains in negative territory. Oil trades lower by 0.6% at $30.22/bbl.

In Treasuries, the benchmark note has ticked lower since the open with the yield on the 10-yr note higher by one basis points at 2.05%.

10:40 am: [BRIEFING.COM]

The dollar index is currently up 0.2% and has been in positive territory all day so far, weighing on commodities
March WTI crude oil rose as high as $31.36/barrel overnight, but lost steam and sold off all the way to $29.71/barrel in morning trade
Crude has since come back a little and is now -0.8% at $30.14/barrel
Natural gas has come off its early morning high and is now -0.1% at $2.10/MMBtu
Gold futures sold off overnight and have been in the red all day. Feb gold is now -0.5% at $1085.80/oz
Silver, on the other hand, has been trading higher all day, so far, along with copper
In current action, Mar silver is +1.3% at $14.08, Mar copper is +2.2% at $1.99/lb

10:00 am:

[BRIEFING.COM] The major indices trade above their recent lows but remain beneath their opening highs. The S&P 500 trades higher by 0.7%.

Just released, the NAHB Housing Market Index for January came in at 60 from a revised 60 in December (from 61) while the Briefing.com consensus expected the reading to come in at 61.0.

9:45 am:

[BRIEFING.COM] The major averages have started their trading day above their flat lines. The tech-heavy Nasdaq (+0.8%) and the Dow Jones Industrial Average (+0.8%) lead the S&P 500 (+0.7%).

Eight of ten sectors have opened in the green with financials (+2.0%), consumer staples (+1.3%), technology (+1.1%) and consumer discretionary (+1.0%) leading the pack. On the flipside, energy (-0.5%), materials (-0.4%), and industrials (+0.6%) round out the leaderboard.

In commodities, WTI crude has moved back into negative territory showing a decline of 1.3% at $30.00/bbl.

Switching to Treasuries, the benchmark note trades higher, with its yield now unchanged at 2.04%.

9:15 am: S&P futures vs fair value: +23.50. Nasdaq futures vs fair value: +55.30.

[BRIEFING.COM] The stock market is on track for a slightly higher open as S&P 500 futures trade 24 points above fair value.

Overnight, China reported quarter-over-quarter Q4 GDP growth of 1.6% and year-over-year GDP growth of 6.8%. Global markets have reacted relatively positively to the slowest growth from China since 2009, as the focus now shifts to anticipated stimulus measures from China. On a related note, crude oil was able to rally alongside global indices overnight but has since moved into negative territory with WTI crude lower by 0.2% at $30.32/bbl.

On the corporate front, Yahoo (YHOO 29.90, +0.76) has advanced 2.6% in pre-market trading following a report from Barron's that the company could gain 35.0% if it sold its core internet business. To be fair though, the company is probably benefitting from its stake in Alibaba (BABA 71.67, +2.08) which has climbed 3.0%.

Today will be a quiet day on the economic front with data being limited to the 10:00 ET release of the NAHB Housing Market Index (Briefing.com consensus 61).

Looking at Treasuries, the benchmark note has moved off its low with the yield on the 10-yr note now higher by two basis points at 2.06%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +29.00. Nasdaq futures vs fair value: +69.50.

The S&P 500 futures trade 29 points above fair value.

Equity markets across Asia overcame a shaky start to the Tuesday session, ending the day with gains. The big news overnight was the release of China's Q4 GDP and December Industrial Production/Retail Sales data. Just about every data point came in below expectations with Q4 GDP rising 1.6% quarter-over-quarter (expected 1.7%) while the year-over-year reading matched estimates at 6.8%. The disappointing report was met with a brief spike in the yen, but that move was retraced in short order amid increasing expectations for stimulus from the People's Bank of China in the wake of uninspiring economic data.

In economic data:
China's Q4 GDP +1.6% quarter-over-quarter (expected 1.7%; previous 1.8%); +6.8% year-over-year, as expected (previous 6.9%). Separately, December Industrial Production +5.9% year-over-year (consensus 6.0%; last 6.2%), December Retail Sales +11.1% year-over-year (consensus 11.3%; last 11.2%), and December Fixed Asset Investment +10.0% year-over-year (expected 10.2%; last 10.2%)
New Zealand's Q4 NZIER Business Confidence 15% (previous -14%)
South Korea's December PPI -0.2% month-over-month (prior -0.4%); -3.9% year-over-year (last -4.7%)

---Equity Markets---

Japan's Nikkei added 0.6%, registering its second consecutive gain. Sectors like industrials (+1.5%) and technology (+1.4%) paced the advance while utilities (-1.3%) and consumer staples (-1.4%) lagged. Sumitomo Osaka Cement, SUMCO, Advantest, Fuji Heavy Industries, and Panasonic gained between 2.9% and 4.3%.
Hong Kong's Hang Seng gained 2.1% with all but four names ending in the green. Ping An Insurance, Petrochina, CNOOC, and China Petroleum & Chemical settled among the leaders with gains between 3.7% and 5.2%. On the downside, Swire Pacific lost 0.8%.
China's Shanghai Composite spiked 3.2%. CITIC Securities and Industrial Securities both gained near 3.0% while China Shipbuilding and Bank of China gained 4.1% and 2.0%, respectively.

Major European indices trade higher across the board with France's CAC (+2.7%) in the lead. Regional equity markets have erased their slim losses from yesterday and they now trade at their levels from Friday.

In economic data:
Eurozone December CPI 0.0% month-over-month (expected -0.1%; previous -0.1%); +0.2% year-over-year, as expected. Separately, Core CPI +0.9% year-over-year, as expected, and ZEW Economic Sentiment fell to 22.7 from 33.9 (expected 27.9)
Germany's January ZEW Economic Sentiment 10.2 (expected 8.2; last 16.1) and ZEW Current Conditions 59.7 (consensus 54.0; prior 55.0). Separately, December CPI -0.1% month-over-month, as expected
UK's House Price Index +7.7% year-over-year (consensus 7.3%; last 7.0%). Separately, December CPI +0.1% month-over-month, as expected, +0.2% year-over-year (consensus 0.1%). Also of note, Input PPI -10.8% year-over-year (expected -11.7%; last -13.1%)
Swiss December PPI -0.4% month-over-month (expected 0.2%; last 0.4%); -5.5% year-over-year (consensus -5.4%; last -5.5%)

---Equity Markets---

Germany's DAX trades up 2.1% with all 30 components in the green. Utilities lead with RWE and E.On up 8.5% and 5.8%, respectively, while Deutsche Bank and Commerzbank hold respective gains of 3.3% and 2.3%. Elsewhere, Volkswagen has climbed 1.3% and BMW trades higher by 2.3%.
France's CAC is higher by 2.7%. Steelmaker ArcelorMittal has paced the rally with a 9.6% spike while Kering, Credit Agricole, and Societe Generale follow with gains between 3.5% and 5.5%. Elsewhere, BNP Paribas trades up 1.6% and Orange has added 1.3%.
UK's FTSE has surged 2.2% with all but three names in the green. Miners lead with Glencore, Anglo American, BHP Billiton, and Rio Tinto up between 5.4% and 13.2%. On the downside, Tesco has given up 0.9%.

8:30 am: S&P futures vs fair value: +27.00. Nasdaq futures vs fair value: +66.00.

[BRIEFING.COM] Equity futures have moved off their highs with S&P 500 futures now trading 27 points above fair value.

In specific company news, Morgan Stanley (MS 26.82, +0.85) has climbed 3.3% in pre-market trading after the company announced a beat on 4Q earnings with EPS of $0.43 with a beat on revenue. This beat was helped by shrinking legal costs and declining compensation expenses. Elsewhere in company news, Campbell Soup Company (CPB 53.60, +0.61) is trading higher by 1.2% following an upgrade from 'Underweight' to 'Neutral' at JPMorgan.

Meanwhile in commodities, WTI crude has climbed overnights and currently trades higher by 1.5% at $30.86/bbl.

In Treasuries, the benchmark note trades near its low with its yield higher by three basis points at 2.07%.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +30.30. Nasdaq futures vs fair value: +74.50.

U.S. equity futures trade near their pre-market highs with the S&P 500 futures currently trading 30 points above fair value.

In Treasuries, the benchmark note currently sits near its pre-market low with its yield higher by four basis points at 2.08%.

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

In U.S. corporate news of note:

Morgan Stanley (MS 26.88, +0.91):+3.5% after announcing an earnings beat with 4Q EPS of $0.43 per share on in-line revenue
Qualcomm (QCOM 46.52, +0.70):+1.5% following unveiling a joint venture with Guizho provincial government's investment arm
Bank of America (BAC 14.57, +0.11):+0.8% after an earnings beat with 4Q EPS of $0.28 on in-line revenue
UnitedHealth Group (UNH 109.81, +0.54):+0.5% following reporting a 4Q earnings beat with EPS of $1.40 and reaffirming FY 2016 guidance

Reviewing overnight developments:

Asian indices ended their days in positive territory with China's Shanghai Composite +3.2%, Hong Kong's Hang Seng +2.1%, and Japan's Nikkei +0.6%.
In economic data:
China's Q4 GDP +1.6% quarter-over-quarter (expected 1.7%; previous 1.8%); +6.8% year-over-year, as expected (previous 6.9%). Separately, December Industrial Production +5.9% year-over-year (consensus 6.0%; last 6.2%), December Retail Sales +11.1% year-over-year (consensus 11.3%; last 11.2%), and December Fixed Asset Investment +10.0% year-over-year (expected 10.2%; last 10.2%)
New Zealand's Q4 NZIER Business Confidence 15% (previous -14%)
South Korea's December PPI -0.2% month-over-month (prior -0.4%); -3.9% year-over-year (last -4.7%)

European indices trade broadly higher with France's CAC +2.6%, Germany's DAX +2.2%, and the U.K.'s FTSE +2.2%.
In economic data:
Eurozone December CPI 0.0% month-over-month (expected -0.1%; previous -0.1%); +0.2% year-over-year, as expected. Separately, Core CPI +0.9% year-over-year, as expected, and ZEW Economic Sentiment fell to 22.7 from 33.9 (expected 27.9)
Germany's January ZEW Economic Sentiment 10.2 (expected 8.2; last 16.1) and ZEW Current Conditions 59.7 (consensus 54.0; prior 55.0). Separately, December CPI -0.1% month-over-month, as expected
UK's House Price Index +7.7% year-over-year (consensus 7.3%; last 7.0%). Separately, December CPI +0.1% month-over-month, as expected, +0.2% year-over-year (consensus 0.1%). Also of note, Input PPI -10.8% year-over-year (expected -11.7%; last -13.1%)
Swiss December PPI -0.4% month-over-month (expected 0.2%; last 0.4%); -5.5% year-over-year (consensus -5.4%; last -5.5%)

6:08 am: [BRIEFING.COM] S&P futures vs fair value: +31.50. Nasdaq futures vs fair value: +78.30.

6:08 am: [BRIEFING.COM] Nikkei...17048...+92.80...+0.60%. Hang Seng...19636...+291.50...+1.20%.

6:08 am: [BRIEFING.COM] FTSE...5882.83...+102.90...+1.80%. DAX...9694.83...+173.00...+1.80%.

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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