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 Post subject: January 21st Thursday Trade Results - Profit $25187.50
PostPosted: Fri Jan 22, 2016 5:02 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $25187.50 dollars or +503.75 points, Light Crude Oil CL ($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 @ $25187.50 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=2271

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


4:10 pm: [BRIEFING.COM] The major averages ended the Thursday session off their highs, as a rebound fizzled out in afternoon action, leaving the key indices near the middle of their trading ranges. The rebound in equities took place along with a similar effort in crude oil. The commodity and the stock market lost some of their momentum once the energy component traded above the $30.00/bbl price level. The Dow Jones Industrial Average (+0.7%) lead the S&P 500 (+0.5%) and the tech-heavy Nasdaq (UNCH).

Ahead of today's session, the European Central Bank left its deposit facility rate and refinancing operations rate unchanged at -0.3% and 0.05%, respectively. However, ECB President Mario Draghi stated that the central bank "will need to review and therefore possibly reconsider" its monetary policy stance in March as downside risks have increased in 2016. Mr. Draghi's comments invited heavy speculation regarding future stimulus provisions, lifting futures to new highs.

Oil was able to rally in unison with equity futures, as the oversold commodity sought to recover from a 20.0%+ decline since the start of 2016. WTI crude continued its rally despite poor readings from the Energy Information Administration's weekly inventory report. The report showed an inventory build of 3.979 million barrels (expected 2.811 million barrels) while the gasoline inventories report showed a 4.563 million barrel build (expected 1.378 million barrels). WTI crude was up more than 6.3% before it ticked down from its high into the commodities pit session close, ending 4.2% higher at $29.54/bbl.

In front of the pack, energy (+2.9%), telecom services (+2.4%), consumer discretionary (+1.4%) and materials (+0.9%) lead while financials (-0.3%), health care (-0.3%), and utilities (UNCH) trailing.

Looking at the energy sector, component Kinder Morgan (KMI 13.88, +1.87) climbed 15.6% today, thanks to positive price action in crude oil. Additionally, the company reported above-consensus Q4 earnings. Elsewhere in the group, Dow components Chevron (CVX 81.05, +2.07) and Exxon Mobil (XOM 74.10 +0.92) underperformed the space with respective advances of 2.6% and 1.3%.

Moving to the health care space, heavyweight UnitedHealth Group (UNH 113.50, -1.29) trailed the sector with a decline of 1.1%. This came after the company helped the health care sector top the leaderboard yesterday. On a related note, biotechnology showed relative weakness throughout today's session. The iShares Nasdaq Biotechnology ETF (IBB 278.75, -6.74) slid 2.4%% after yesterday's 3.5% climb.

In the technology space (+0.6%), large-cap constituents Apple (AAPL 96.30, -0.49) and Microsoft (MSFT 50.48, -0.31) were unable to make any headway. Meanwhile, data storage names posted some of the steepest declines with Seagate Technology (STX 27.56, -1.66) and Western Digital (WDC 43.94, -1.85). The two names declined 5.7% and 4.0%, respectively. Elsewhere the high-beta chipmakers showed relative strength, evidenced by the 1.5% gain in the PHLX Semiconductor Index.

In specific industry news, rail companies struggled following Union Pacific's (UNP 71.00 -2.61) disappointing earnings results this morning. The company fell 3.6% after announcing that revenue fell 15.4% year-over-year in Q4. The company cited uncertainty in the energy market and the relative strength of the dollar for the shortfall. Fellow rail company, Norfolk Southern (NSC 70.07, -1.11) felt some of the same headwinds, as it ended its day lower by 1.6%.

Treasuries retreated for most of the session as the rally in equities and oil kept buying suppressed. During the afternoon retreat, the benchmark note was able to move off its low, but the 10-yr yield still ended higher by three basis points at 2.01%.

Today's trading session was true to recent form, generating volume of more than 1.1 billion shares at the NYSE floor.

Economic data has included weekly initial/continuing claims and the January Philadelphia Fed Survey.

Initial claims for the week ending January 16 were higher than expected, rising 10,000 to 293,000 (Briefing.com consensus 280,000).
There were no special factors influencing initial claims, which have been bounded between 250,000 and 300,000 since July 2014. The latest reading, however, is the highest level of claims since the first week of July 2015.
With the latest reading, the four-week moving average for initial claims increased by 6,500 to 285,000, which is the highest average since July 11, 2015.
Continuing claims for the week ending January 9 were lower than expected, falling by 56,000 to 2.208 million (Briefing.com consensus 2.252 million).
The four-week moving average for continuing claims increased by 3,250 to 2.228 million.
The Philadelphia Fed Index for January checked in at -3.5 versus -10.2 in December. ( Briefing.com consensus -4.0).
While the headline number was better than expected, it still doesn't qualify as good considering a number below zero still connotes a contraction in manufacturing conditions.
The diffusion index for future general activity fell from a revised reading of 24.1 for December to 19.1 for January. In other words, confidence in the outlook is still positive but weakening.
The business outlook survey for January, the improvement was driven by the shipments index, which moved from a contractionary reading of -2.1 for December to an expansionary reading of 9.6 for January.

Tomorrow's economic data will include December Existing Home Sales (Briefing.com consensus 5.12 million) and December Leading Indicators (Briefing.com consensus -0.1%) with both set to cross the wires at 10:00 ET.

Russell 2000 -12.1% YTD
Nasdaq -10.7% YTD
Dow Jones -8.9% YTD
S&P 500 -8.6% YTD

3:40 pm: [BRIEFING.COM]

The dollar index lost steam today after surging higher this morning, giving select commodities some help
WTI crude oil futures rallied this morning, despite some bearish storage data, running from around $28/barrel to just over $30/barrel
At the end of floor trading, front-month Mar crude oil closed +4.2% at $29.54/barrel
In other energy, Mar natural gas closed the day +0.9% at $2.14/MMBtu
Gold remained in negative territory all day, finishing its session -$7.90 at $1098.30/oz. Mar silver lost -0.4% to close at $14.09/oz
Mar copper, on the other hand, rallied 2% to end at $2.00/lb

2:55 pm:

[BRIEFING.COM] As trading enters its final hour, the stock market has ticked higher once again. The Dow Jones Industrial Average (+0.9%) leads the S&P 500 (+0.7%) and the tech-heavy Nasdaq (+0.3%).

Energy (+3.1%) has climbed back ahead of telecom services (+2.7%) on the top of the leaderboard with consumer discretionary (+1.5%) and materials (+0.8%) following. On the flipside, utilities (-0.3%), health care (-0.1%), and financials (UNCH) trail.

In the consumer staples space (+0.3%), Hormel Foods (HRL 74.32, -1.22) has underperformed the space with a decline of 1.7%. Elsewhere in the group, sector large-caps Coca Cola (KO 41.32, -0.06) and General Mills (GIS 53.86, -0.70) have also shown relative weakness with losses of 0.2% and 1.3%, respectively.

Moving to the consumer discretionary sector, influential component Netlfix (NFLX 103.37, -4.37) has slid throughout today's session as domestic growth concerns continue to weigh on the stock.

Treasuries, have moved off their low but the yield on the benchmark note remains higher by three basis points at 2.03%.

2:30 pm:

[BRIEFING.COM] The major indices have all entered the lower half of their trading ranges, as they approach their flat lines. The Nasdaq (UNCH) trails the S&P 500 (+0.4%) and the Dow Jones Industrial Average (+0.6%).

In front of the pack, telecom services (+2.2%), energy (+2.0%), consumer discretionary (+1.0%) and materials (+0.3%) lead while utilities (-0.9%), health care (-0.6%), and financials (-0.4%) trail.

Looking at the energy sector, Kinder Morgan (KMI 13.80, +1.79) has climbed 15.2% today, thanks to a 4.2% uptick in WTI crude, and better than expected Q4 earnings. The company also announced a quarterly cash dividend of $0.125 and stated that it doesn't expect to need to access capital markets to fund future growth through 2016. Elsewhere in the group, Dow components Chevron (CVX 80.45, +1.47) and Exxon Mobil (XOM 73.98 +0.80) underperform the sector with advances of 1.8% and 1.1%, respectively.

In commodities, WTI crude has slipped from its high as oil looks to close its pit session high by 4.2% at $29.55/bbl

1:55 pm:

[BRIEFING.COM] The stock market has trimmed its advance in recent trade. The Dow Jones Industrial Average (+1.1%) leads the S&P 500 (+0.9%) and the tech-heavy Nasdaq (+0.6%).

On the top of the board, energy (+3.1%), telecom services (+2.5%), consumer discretionary (+1.7%) and materials (+1.1%) lead while utilities (-0.4%), health care (+0.1%), and consumer staples (+0.4%) trail.

Looking at the financial space (+0.4%), Bank of America (BAC 13.47, -0.22) has continued to underperform since the company released it Q4 earnings on Tuesday before the bell. Since the open on Tuesday the stock has declined 8.3%. Elsewhere in the space, fellow large-cap banks Citigroup (C 40.56, +0.08) and JPMorgan Chase (JPM 55.54, +0.02) both underperform the sector with advances of 0.2%, apiece.

In commodities, WTI crude briefly topped the $30.00/bbl price level before it was pressured beneath it again. The energy component trades higher by 5.1% at $29.79/bbl.

Treasuries have sunk to new session lows with the yield on the 10-yr note now higher by four basis points at 2.02%.

1:35 pm:

[BRIEFING.COM] The major US indices have experience some negative ticks in recent trade as stocks selloff slightly from earlier highs.

A look inside the Dow Jones Industrial Average shows that Home Depot (HD 120.90, +4.44), Verizon (VZ 45.82, +1.40), and General Electric (GE 28.80, +0.80) are outperforming. Home Depot is rallying amid strength in consumer discretionary names, while Verizon is higher after reporting strong Q4 results and reaffirming its FY16 outlook. GE was initiated with a Buy at Citigroup at this morning ahead of tomorrow's earnings

Conversely, UnitedHealth Group (UNH 113.34, -1.45) is the worst-performing Dow component as health care sits out from the broad market rally.

For the week, the DJIA is -0.4%, and down 8.6% year-to-date

1:00 pm:

[BRIEFING.COM] The stock market trades broadly higher at midday as both equities and oil rebound from oversold conditions on a short-term basis. The Dow Jones Industrial Average (+1.3%) leads the S&P 500 (+1.2%) and the tech-heavy Nasdaq (+1.0%).

Before the U.S. open, the European Central Bank released its latest policy statement, which left the deposit facility rate and refinancing operations rate unchanged at -0.3% and 0.05%, respectively. While little changed this time around, ECB President Mario Draghi said during his press conference that the central bank "will need to review" its monetary policy stance in March.

WTI crude has rallied despite a poor reading from the Energy Information Administration's weekly inventory report. The report showed an inventory build of 3.979 million barrels (expected 2.811 million barrels) while the gasoline inventories report showed a 4.563 million barrel build (expected 1.378 million barrels). The oversold commodity entered the day down more than 20.0% since the start of the year, but trades higher by 5.5% at $29.92/bbl today.

In front of the pack, energy (+3.3%), telecom services (+3.0%), consumer discretionary (+2.2%) and technology (+1.3%) lead while utilities (+0.1%), health care (+0.2%), and consumer staples (+0.6%) follow.

The lightly-weighted telecom services were able to climb the leaderboard thanks to large-cap constituent Verizon (VZ 46.15, +1.73), which reported a beat in Q4 earnings before today's open. Verizon reported EPS of $0.89 on in-line revenue. The company also reaffirmed is fiscal year 2016 EPS guidance of $3.99 and has gained 3.9% on the positive earnings sentiment.

In the technology space, sector large-caps Apple (APPL 97.36, +0.57), Microsoft (MSFT 51.05, +0.27), and Facebook (FB 95.65, +1.30) have underperformed the group with gains between 0.6% and 1.4%, respectively. Elsewhere in the sector, the high-beta chipmakers have shown relative strength this morning, evidenced by the 2.4% gain in the PHLX Semiconductor Index. Index component Xilinix (XLNX 47.34, +4.28) has climbed 9.9% after reporting better than expected revenue in its earnings report after yesterday's close.

Switching to the health care space, biotechnology has shown relative weakness, evidenced by the 0.9% decline in the iShares Nasdaq Biotechnology ETF (IBB 283.29, -2.20). The sub-group is pulling back after yesterday's rally. On a related note, UnitedHealth Group (UNH 113.77, -1.02) also underperforms after yesterday strong performance, sliding 0.9%.

Looking in the Dow Jones Transportation Average (+0.9%), rail companies have shown relative weakness following Union Pacific's (UNP 70.90 -2.71) disappointing earnings results this morning. The company has plummeted 3.6% after disclosing that revenue fell 15.4% year-over-year in Q4. The company has cited uncertainty in the energy market and the relative strength of the dollar for the shortfall. Fellow rail company, Norfolk Southern (NSC 68.29, -2.89) has felt some of the same headwinds, trading lower by 4.1%.

Treasuries have been pressured as the rally in equities took shape. The yield on the 10-yr note has ticked higher by three basis points to 2.02%.

Economic data has included weekly initial/continuing claims and the January Philadelphia Fed Survey.

Initial claims for the week ending January 16 were higher than expected, rising 10,000 to 293,000 (Briefing.com consensus 280,000).
There were no special factors influencing initial claims, which have been bounded between 250,000 and 300,000 since July 2014. The latest reading, however, is the highest level of claims since the first week of July 2015.
With the latest reading, the four-week moving average for initial claims increased by 6,500 to 285,000, which is the highest average since July 11, 2015.
Continuing claims for the week ending January 9 were lower than expected, falling by 56,000 to 2.208 million (Briefing.com consensus 2.252 million).
The four-week moving average for continuing claims increased by 3,250 to 2.228 million.
The Philadelphia Fed Index for January checked in at -3.5 versus -10.2 in December. ( Briefing.com consensus -4.0).
While the headline number was better than expected, it still doesn't qualify as good considering a number below zero still connotes a contraction in manufacturing conditions.
The diffusion index for future general activity fell from a revised reading of 24.1 for December to 19.1 for January. In other words, confidence in the outlook is still positive but weakening.
The business outlook survey for January, the improvement was driven by the shipments index, which moved from a contractionary reading of -2.1 for December to an expansionary reading of 9.6 for January.

12:25 pm:

[BRIEFING.COM] The major averages have slid from their session highs but still show sharp advances. The S&P 500 (+1.3%) leads the tech-heavy Nasdaq (+1.2%).

On the top of the board, energy (+3.0%), telecom services (+2.9%), consumer discretionary (+2.2%) and technology (+1.6%) lead while utilities (+0.2%), health care (+0.4%), and consumer staples (+0.6%) trail.

In the consumer discretionary space, Dow component Home Depot (HD 121.29, +4.83) has lead the sector as the company reclaimed its 200-day moving average (117.94). Large-cap component Amazon (AMZN 588.00, +16.23) has rallied throughout early trade, outperforming with an advance of 2.8%. Fellow large-cap, Starbucks (SBUX 58.68, +1.76) has rebounded today ahead of the company's earnings release after the bell.

Switching to commodities, WTI crude has rallied 4.8% to reclaim the $29.00/bbl price level. The energy component trades at $29.70/bbl.

11:55 am:

[BRIEFING.COM] The stock market trades just below its session high with the Dow Jones Industrial Average (+1.2%) ahead of the S&P 500 (+1.0%) and the tech-heavy Nasdaq (+0.8%).

Energy (+3.3%) remains on top of the leaderboard as telecom services (+2.5%), consumer discretionary (+1.9%), and technology (+1.4%) outperform while utilities (+0.2%), health care (+0.2%), and consumer staples (+0.3%) trail.

In the health care space, biotechnology has shown relative weakness, evidenced by the 0.7% decline in the iShares Nasdaq Biotechnology ETF (IBB 283.52, -1.97). The sub-group is facing pullback pressure from its rally yesterday, which helped the health care sector top the leaderboard. On a related note, another of yesterday's top performers UnitedHealth Group (UNH 113.60, -1.18) also underperforms with a decline of 1.0%. Elsewhere in the space, AbbVie (ABBV 58.41, +1.26) outperforms with a 2.2% gain.

In Treasuries, the benchmark note has been pressured as equities rallied throughout the morning. The yield on the 10-yr has ticked higher by one basis point to 2.00%.

11:30 am:

[BRIEFING.COM] The major averages have slid from their sessions highs with the Dow Jones Industrial Average (+0.9%) narrowly outperforming the S&P 500 (+0.8%).

In front of the pack, energy (+2.3%), telecom services (+2.2%), consumer discretionary (+1.6%) and technology (+1.1%) lead while health care (-0.1%), materials (UNCH), and consumer staples (+0.1%) trail.

Looking in the Dow Jones Transportation Average (+0.4%), Union Pacific (UNP 69.06, -4.55) is trading down 6.2% after releasing Q4 earnings before today's bell, which missed consensus expectations on EPS and revenue falling 15.4% year-over-year. The company has cited uncertainty in the energy market and the relative strength of the dollar for their poor earnings. Fellow rail company, Norfolk Southern Corp (NSC 69.52, -1.66) has felt some of the same headwinds as the company underperforms with a decline of 2.3%.

Switching to commodities, WTI crude has climbed despite below consensus readings from the EIA in their weekly crude and gasoline inventory reports. The crude report showed an inventory build of 3.979 million barrels (expected 2.811 million barrels). Elsewhere, the gasoline inventories report showed a 4.563 million barrel build (expected 1.378 million barrels). This may have been an oversold bounce as WTI crude has declined more than 20.0% since the start of the year. The energy component trades higher by 3.0% at $29.23/bbl.

11:00 am:

[BRIEFING.COM] The major indices hover below session highs with the Dow Jones Industrial Average (+1.0%) leading the S&P 500 (+0.9%) and the Nasdaq (+0.9%).

On top of the leaderboard, telecom services (+2.1%), consumer discretionary (+1.9%), energy (+1.6%), and technology (+1.2%) lead. On the flipside, utilities (-0.1%), health care (+0.2%), and consumer staples (+0.3%) trail.

Looking in the technology space, sector large-caps Apple (APPL 96.76, -0.06) and Microsoft (MSFT 51.28, +0.29) have underperformed with gains of 0.0% and 0.9%, respectively. Elsewhere in the group, the high-beta chipmakers have shown relative strength this morning, evidenced by the 2.0% gain in the PHLX Semiconductor Index. The group is responding to strong earnings from fellow component Xilinix (XLNX 47.67, +4.59), which has climbed 10.6% after reporting better than expected Q3 top-line results and higher Q4 revenue guidance. Additionally, in response to the earnings beat Xilinix has received an upgrade at BMO to 'Outperform'.

On the commodities front, WTI crude has rallied 0.7% and now trades at $28.55/bbl. Elsewhere, gold has slide 1.1% to $1,094.10.

10:40 am: [BRIEFING.COM]

WTI crude oil prices started the day lower following the API storage number late yesterday, which showed a build of 4.6 mln barrels
Prices have rallied in recent trade and are now +1.3% at $28.71/barrel
Natural gas futures were trading higher this morning, sitting near the current HoD ahead of the weekly nat gas storage data
However, following the data, which showed a draw of 178 bcf, nat gas tanked to a new LoD as the draw reported fell short of expectations
Feb nat gas fell as low as and is now -0.4% at $2.11/MMBtu
Gold and silver are trading near today's lows following strength in the dollar index
Feb gold is now -1.1% at $1093.70/oz, while Mar silver is -1.8% at $13.90/oz
Mar copper is currently +1.2% at $1.98

10:00 am:

[BRIEFING.COM] The major averages have all slid beneath their flat lines but float above their session lows. The Nasdaq (-0.3%) paces the retreat while the S&P 500 (-0.2%) follows.

Rounding out the board, health care (-0.7%), utilities (-0.5%), consumer staples (-0.4%), and technology (-0.4%) underperform. In front of the pack, telecom service (+0.5%), consumer discretionary (+0.4%), and energy (+0.1%) lead.

In commodities, WTI crude has slipped 0.6% to $28.18/bbl. This action comes before the Energy Information Administration's weekly U.S. crude inventories and gasoline inventories reports at 11:00 ET.

Looking at Treasuries, the benchmark note has ticked higher in recent action with the yield on the 10-yr note lower by one basis point to 1.97%.

9:45 am:

[BRIEFING.COM] The major indices all briefly opened in positive territory, but at this juncture the Dow Jones Industrial Average (+0.1%) leads the S&P 500 (UNCH) and the tech-heavy Nasdaq (-0.2%)

On the leaderboard, telecom services (+0.8%), consumer discretionary (+0.4%), financials (+0.3%), and energy (+0.2%) lead. On the flipside, health care (-0.4%), utilities (-0.2%), and consumer staples (-0.2%) trail the rest of the pack.

Meanwhile in commodities, WTI crude has been able to defend the $28.00/bbl price level thus far this morning. Oil has ticked down 0.1% at $28.31/bbl.

Treasuries, have ticked lower with the yield on the 10-yr note now unchanged at 1.98%.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +16.50.

The stock market is on track for a flat open as S&P 500 futures trade 6 points above fair value.

Recently, European Central Bank President Mario Draghi helped calm market sentiment by stating that he expects rates at present or lower levels for an extended amount of time. This statement followed the ECB's decision to keep the deposit facility rate and refinancing operations rate unchanged at -0.3% and 0.05%, respectively.

On the economic front, weekly initial jobless claims were released earlier this morning, the county totaled 293,000 (Briefing.com consensus 280,000). Today's tally was above the revised prior week's count of 283,000 (from 284,000). As for continuing claims, they fell to 2.208 million from the prior week's revised count of 2.264 from 2.263 million (Briefing.com consensus 2.252 million). Separately, the Philadelphia Fed Survey for January increased to -3.5 from -5.9 (Briefing.com consensus -4.0).

In corporate news, Union Pacific (UNP 69.70, -3.91) is trading lower by 5.3% after releasing Q4 earnings which showed below consensus EPS of $1.31 and revenue falling 15.4% year-over-year. The company has attributed the slow down in their core business to present economic conditions including uncertainty in the energy market, falling commodity prices, and the relative strength of the U.S. dollar. Elsewhere in the Transports, United Continental Holdings (UAL 44.75, -0.37) has slid 0.8% after the company missed on earnings on in-line revenue.

Moving on to commodities, WTI crude has slid lower in recent trade. Oil trades down 1.3% at $27.98/bbl.

Treasuries have ticked higher as we approach the start of the U.S. session. The yield on the 10-yr is now lower by three basis point at 1.96%.

8:55 am: S&P futures vs fair value: +15.30. Nasdaq futures vs fair value: +36.30.

[BRIEFING.COM] The S&P 500 futures trade 15 points above fair value.

Equity markets across Asia ended the Thursday session on a broadly lower note after failing to hold their early gains. For instance, Japan's Nikkei was up more than 1.5% at the midpoint of its session, but steady selling in the afternoon drove the index lower by 2.4%. Similarly, China's Shanghai Composite flashed a brief gain at the start, but could not hold its ground even though the People's Bank of China injected CNY110 billion through 7-day reverse repurchase agreements and CNY290 billion through 28-day reverse repos.

In economic data:
Japan's All Industry Activity Index -1.0% month-over-month (expected -0.7%; last 0.9%) and Foreign Bonds Buying -JPY375.20 billion (previous JPY323.50 billion)
Hong Kong's December CPI +2.5% (previous +2.4%)
Australia's November HIA New Home Sales -2.7% month-over-month (prior -3.0%)

---Equity Markets---

Japan's Nikkei lost 2.4% with all but eleven components ending in the red. Yaskawa Electric, Unitika, Casio Computer, and Honda Motor were among the biggest laggards with losses between 4.6% and 8.0%. On the upside, Sharp spiked 5.8% as the stock tries to break away from a multi-year low.
Hong Kong's Hang Seng fell 1.8% amid broad weakness. China Resources Beer Holdings tumbled 14.1% after one of its Chinese partners received a downgrade. Property names also struggled notably with Henderson Land, China Overseas, Cheung Kong Property, and Hang Lung Properties falling between 4.4% and 6.1%. Elsewhere, Cathay Pacific Air outperformed, climbing 3.7%.
China's Shanghai Composite lost 3.2%. Agricultural Bank of China and Bank of China posted respective losses of 0.6% and 1.2% while CITIC Securities fell 4.6% and China State Construction Engineering surrendered 3.3%.

Major European indices hold solid gains after the latest policy statement from the European Central Bank and Mario Draghi's subsequent press conference. The ECB President stated that he expects rates at present or lower levels for an extended amount of time. This calmed European markets and weighed on the Euro. For its part, the euro trades near 1.0791 against the dollar, representing an almost 1% decline.

Economic data was limited:
French January Business Survey ticked up to 102 from 101 (expected 103)
Spain's trade deficit held at EUR1.90 billion

---Equity Markets---

France's CAC is higher by 2.1% with roughly half of its components in the green. ArcelorMittal, Renault, Pernod Ricard, and Kering appear among the leaders with gains between 1.3% and 2.5%. On the flip side, Accor has tumbled 4.6% while Societe Generale and BNP Paribas hold respective losses of 0.9% and 0.6%.
Germany's DAX trades up 2.2% thanks to strength in most names. Bayer leads with a 2.5% gain while Volkswagen, Lufthansa, and Fresenius show gains close to 2.0% apiece. Elsewhere, Deutsche Bank is down 7.3% after warning its upcoming results will show a record annual loss.
UK's FTSE has climbed 1.5% with Pearson surging 14.5% after the publisher announced plans to cut 4,000 jobs. Miners have also shown relative strength after recent weakness with BHP Billiton, Glencore, Rio Tinto, Antofagasta, and Fresnillo up between 2.2% and 3.6%. On the downside, homebuilders Barratt Developments and Taylor Wimpey hold respective losses of 1.2% and 2.3%.

8:30 am: S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +21.30.

[BRIEFING.COM] The S&P 500 futures trade nine point above fair value.

The latest weekly initial jobless claims count totaled 293,000 while the Briefing.com consensus expected a reading of 280,000. Today's tally was above the revised prior week's count of 283,000 from 284,000. As for continuing claims, they fell to 2.208 million from the prior week's revised count of 2.264 from 2.263 million (Briefing.com consensus 2.252 million).

Separately, the Philadelphia Fed Survey for January increased to -3.5 from -5.9 while economists polled by Briefing.com had expected an increase to -4.0.

8:00 am:

[BRIEFING.COM] U.S. equity futures trade near pre-market highs with the S&P 500 futures hovering one point below fair value.

Meanwhile, Treasuries sit in the green with the yield on the 10-yr note lower by two basis points to 1.97%.

On the economic front, today's data will be limited to the weekly initial claims report (Briefing.com consensus 280k) and the January Philadelphia Fed Survey (Briefing.com consensus -4.0) will cross the wires at 8:30 ET.

In U.S. corporate news of note:

Verizon (VZ 44.60, +0.18): +0.4% following an earnings beat in Q4 with EPS of $0.89 on in-line revenue; the company reaffirmed its FY 2016 EPS guidance of $3.99
The Travelers Companies (TRV 104.40, +0.75): +0.7% after the company announced a Q4 earnings beat with EPS of $2.90 with in-line revenue
Deutsche Bank (DB 18.05, -1.28): -6.6% following the announcement of an expected loss of EUR 2.1 billion in Q4 following litigation charges of EUR 1.2 billion
Kinder Morgan (KMI 12.30, +0.29) +2.4% after beating on Q4 EPS at $0.21 on light revenue and also stating that it does not expect to need to access capital markets to fund foreseeable growth beyond 2016

Reviewing overnight developments:

Asian markets ended their session sharply lower with China's Shanghai Composite -3.2%, Japan's Nikkei -2.4%, and Hong Kong's Hang Seng -1.8%
In economic data:
Japan's All Industry Activity Index -1.0% month-over-month (expected -0.7%; last 0.9%) and Foreign Bonds Buying -JPY375.20 billion (previous JPY323.50 billion)
Hong Kong's December CPI +2.5% (previous +2.4%)
Australia's November HIA New Home Sales -2.7% month-over-month (prior -3.0%)
In news:
The People's Bank of China injected CNY110 billion through 7-day reverse repurchase agreements and CNY290 billion through 28-day reverse repos.

European indices have ticked higher with Germany's DAX +0.9%, France's CAC +0.8%, and the U.K.'s FTSE +0.6%.
Economic data was limited:
French January Business Survey ticked up to 102 from 101 (expected 103)
Spain's trade deficit held at EUR1.90 billion
In news:
The European Central Bank released its policy statement this morning, leaving the deposit rate and interest rate unchanged
Mario Draghi's will hold a press conference regarding the ECB's policy statement at 8:30 ET

5:55 am: [BRIEFING.COM] S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -15.30.

5:55 am: [BRIEFING.COM] Nikkei...16017...-398.90...-2.40%. Hang Seng...18542...-344.20...-1.80%.

5:55 am: [BRIEFING.COM] FTSE...5700.59...+27.00...+0.50%. DAX...9453.87...+62.20...+0.70%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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