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 Post subject: January 26th Tuesday Trade Results - Profit $5062.50
PostPosted: Wed Jan 27, 2016 4:09 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 @ $5062.50 dollars or +101.25 points, Light Crude Oil CL ($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 @ $5062.50 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=2274

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 stock market ended an upbeat Tuesday session off its high but with solid advances in the major indices. Today's rally was sustained by a sharp rebound in crude oil and a dovish tone expected from the Federal Open Market Committee's policy statement tomorrow. The Dow Jones Industrial Average (+1.8%) settled in the lead while the S&P 500 (+1.4%) and the tech-heavy Nasdaq (+1.1%) followed.

Overnight, the Shanghai Composite surrendered 6.4%, seeing little respite from a 440 billion yuan People's Bank of China injection through reverse repurchase operations. The market appeared disappointed by comments from PBoC assistant governor Zhang Xiaohui who said the central bank has no plans to introduce reserve requirement ratio cuts at this time.

Oil was resilient to this downturn and was able to eke forward after Iraq's oil minister alluded to flexibility from non-OPEC states in collaborating regarding production cuts. WTI crude was able to tack on steady gains overnight, but the commodity's rally was in full effect during today's session. Oil was able to climb above the $32.00 price level before paring some of its gains into the close. WTI crude ended its day higher by 3.6% at $31.43/bbl. On a related note the American Petroleum Institute is set to announce its weekly crude oil, gasoline, and distillates inventory report after today's close.

Energy (+3.8%) was able to capitalize on the strong price action in crude to climb the leaderboard where it was followed by telecom services (+1.9%), financials (+1.8%), industrials (+1.8%), and materials (+1.8%). Meanwhile, utilities (0.8%) and heavily-weighted health care (+0.8%) sported the slimmest gains.

Dow components Chevron (CVX 84.12, +3.23) and Exxon Mobil (XOM 76.70, +2.72) were able to help the index outperform, as the two names showed relative strength with advances of 4.0% and 3.7%, respectively. Meanwhile, 3M (MMM 144.78, +7.21) showed relative strength in the industrial sector after reporting a Q4 earnings beat this morning. 3M was the best performing component in the Dow, climbing 5.2%.

Elsewhere, the financial sector rebounded today, as the beleaguered group had surrendered 13.0% in January, before today's session. The effort was spurred forward by relative strength from money center banks. On that note, Bank of America (BAC 13.31, +0.35), Citigroup (C 40.50, +0.95), and JPMorgan Chase (JPM 57.08, +1.42) advanced between of 2.4% and 2.7%. Meanwhile, American International Group (AIG 55.91, +0.55) gained 1.0% after it reported that it will be spinning off AIG Advisors to Lightyear Capital and PSP Investments among other divestment moves.

In the top-weighted tech space (+0.9%), large-cap constituents Alphabet (GOOGL 733.79, +0.17), Facebook (FB 97.34, +0.32), and Apple (AAPL 99.99) showed relative weakness throughout the day On a related note, Apple will announce its Q1 earnings report after today's close.

Similar to technology, the health care space showed relative weakness today. Heavyweight Johnson & Johnson (JNJ 101.18, +4.78) markedly outperformed in reaction to above-consensus results, but biotechnology kept the sector behind the broader market with the iShares Nasdaq Biotechnology ETF (IBB 282.08, -1.12) shedding 0.4%.

Today's trading volume remained above recent averages as more than a billion shares changed hands at the NYSE floor.

Treasuries spent most of the session trading on their lows but were able to tick higher as stocks backed away from their highs. The yield on the benchmark note closed its day flat at 2.01%.

Today's economic data included November's Case-Schiller 20-city Index, the FHFA Housing Price Index for November, and January's Consumer Confidence report.

The Case-Shiller 20-city Home Price Index for November rose 5.8% (Briefing.com consensus 5.8%).
This followed the previous month's increase of 5.5%.
The FHFA Housing Price Index for November rose 0.5%, from an unrevised October reading of +0.5.
The Conference Board's Consumer Confidence Index increased to 98.1 in January (Briefing.com consensus 96.8) from a downwardly revised 96.3 (from 96.5) in December.
The Expectations Index increased from 83.0 to 85.9 in January. The Present Situation Index was unchanged at 116.4.
According to the Conference Board, the takeaway is that consumers do not foresee the volatility in financial markets as having a negative impact on the economy.

Tomorrow's economic data includes the weekly MBA Mortgage Index set to be released at 7:00 ET while New Home Sales (Briefing.com consensus 506k) will cross the wires at 10:00 ET. The day will culminate with the FOMC policy statement for January (Briefing.com consensus 0.5%), which will be announced at 14:00 ET.

Russell 2000 -10.5% YTD
Nasdaq -8.8% YTD
Dow Jones -7.2% YTD
S&P 500 -6.9% YTD

3:35 pm: [BRIEFING.COM]

Oil prices rallied today after comments that OPEC would reduce production if other nations did
Mar crude oil closed out of today's floor trading session +3% at $31.26/barrel, ending off the day's high of $32.41/barrel
In other energy, Mar natural gas ended +1.4% at $2.18/MMBtu
Metals founds some nice gains, helped by weakness in the dollar index
Feb gold finished the day +$16.20 to close at $1120.70/oz, while Mar silver closed +2.2% to $14.55/oz

3:00 pm:

[BRIEFING.COM] The major averages have slid from their best levels of the day but remain broadly higher with the S&P 500 (+1.2%).

The heavily-weighted health care space (+0.5%) has been unable to make any headway to pass utilities (+0.6%) and consumer staples (+0.8%).

In the consumer staples sector, heavyweight Proctor & Gamble (PG 78.95, +2.08) has outperformed with a 2.7% climb. This gain came on the heels of reporting a beat on Q2 earnings before today's open. However, the company also issued downside guidance for FY2016 with EPS of $3.46-3.65. Fellow large-cap constituent Coca-Cola (KO 42.05, -0.11) underperformed in the space making it difficult for the larger sector to climb ahead of the rest of the groups. Meanwhile, Costoco Wholesale (COST 148.73, -2.04) shows the largest loss in the sector with a 1.4% decline.

Treasuries have ticked up in recent trade with the yield on the benchmark note lower by one basis point to 1.99%.

2:30 pm:

[BRIEFING.COM] The major averages have floated further from their highs as the Dow Jones Industrial Average (+1.5%) leads S&P 500 (+1.1%) and the Nasdaq (+0.9%).

In recent trade the energy sector (+3.0%) has narrowed its gain as crude oil slips from the $32.00/bbl to end its pit session up 3.7%. at $31.45/bbl.

Dow components Chevron (CVX 83.37, +2.48) and Exxon Mobil (XOM 75.85, +1.87) have shown relative strength as the two names advance 3.0%, and 2.6%, respectively. Oilfield service giant Schlumberger (SLB 65.00, +1.69) paces the sector advance while competitor Halliburton (HAL 28.93, -0.35) is anchored by a price target adjustment at Oppenheimer which lowered the target on the company from $48 to $40.

On a related note, the American Petroleum Institute is set to announce its weekly crude oil, gasoline, and distillates inventory report after today's close.

2:00 pm:

[BRIEFING.COM] The stock market floats just below its high with the S&P 500 (+1.4%) leading the tech-heavy Nasdaq (+1.2%).

The commodity-sensitive materials sector (+1.7%) continues to outperform after oil's rally. In the space, Dow component DuPont (DD 53.67, 0.68) showed initial weakness after issuing below analyst consensus guidance for FY 2016 during its Q4 earnings report. Despite this weakness, the company was able to rally along with oil. Meanwhile, merger partner Dow Chemical (DOW 42.70, 0.52) has gained 1.3%. Gas company Praxair (PX 97.96, +1.83) slightly outpaces the group with a gain of 1.9%.

Treasuries have ticked high in recent action with the yield on the benchmark note now unchanged at 2.00%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to push higher as we head into the back half of the trading day.

A look inside the Dow Jones Industrial Average shows that 3M (MMM 143.60, +6.03), Johnson & Johnson (JNJ 100.31, +3.91), and Chevron (CVX 84.18, +3.29) are outperforming. 3M reported better than expected Q4 earnings and reaffirmed its FY16 outlook. J&J also reported its quarterly earnings and offered upside FY EPS guidance, with revenue projections coming in just short of analyst estimates.

Conversely, UnitedHealth Group (UNH 113.55, +0.17) is the worst-performing Dow component as healthcare underperforms the broad market rally.

Today's strong session has the DJIA up 0.4% this week, but still down 7.3% for the month

Elsewhere, the Treasury's $26 bln 2-year auction drew a high-yield of 0.86% on a bid-to-cover of 2.90

1:10 pm:

[BRIEFING.COM] The major averages trade near their best levels of the day after the stock market opened on a positive note, fueled by a reversal in crude oil. At this juncture, the Dow Jones Industrial Average (+1.8%) leads the S&P 500 (+1.5%) and the Nasdaq (+1.2%).

The major averages have spent the first half in a steady rally, boosted by:

Rebound in crude oil; and
Hopes for a dovish statement from the the Federal Open Market Committee tomorrow

Overnight, futures were anchored by a selloff in Asian Equity Markets that resulted in a 6.4% nosedive in the Shanghai Composite. The People's Bank of China disappointed participants when assistant governor Zhang Xiaohui stated that the central bank has no plans to cut the reserve requirement ratio at this time. The central bank did offer new stimulus in the way of a 440 billion yuan injection through reverse repo operations. Oil and futures were kicked lower by the resulting volatility.

Oil was able to rebound overnight after Iraq's oil minister said that there was some flexibility for a deal between OPEC and non-OPEC states on production cuts. WTI crude was able to capitalize on the positive sentiment and gained 5.5% to trade at $32.00/bbl.

The recent uptick in the averages took place as oil approached its session high. Interestingly though, today's advance has seen little leadership from three of the four top-weighted sectors as technology (+1.0%), health care (+0.9%), and consumer discretionary (+1.4%) trail the broader market.

Meanwhile energy (+3.5%), financials (+1.9%), materials (+1.8%), and industrials (+1.6%) outperform.

Financials have mounted a rebound effort this session after the sector surrendered 11.2% to begin the year. This effort has been helped by relative strength from money center banks. On that note, Bank of America (BAC 13.25, +0.29), Citigroup (C 40.60, +1.05), and JPMorgan Chase (JPM 56.95, +1.29) show respective advances of 2.3%, 2.6%, and 2.3%.

In the industrials sector, Dow component 3M Company (MMM 143.64, +6.06) has shown relative strength after reporting a Q4 earnings beat this morning. At this juncture, 3M is the best performing component of the Dow. Elsewhere, fellow Dow component Boeing (BA 127.34, +3.30) shows a gain of 2.7%.

In the tech space large-cap constituents Alphabet (GOOGL 733.71, +0.09) and Facebook (FB 97.34, +0.32) have shown relative weakness as both underperform the sector and only turned positive during the recent leg higher in crude. Elsewhere, Apple (AAPL 100.09, +0.65) was able to tick off its morning low ahead of its scheduled Q1 earnings report today after the close.

Treasuries have traded narrowly today despite the rally in equities. The yield on the benchmark note is higher by one basis point at 2.01%.

Today's economic data included November's Case-Schiller 20-city Index, the FHFA Housing Price Index for November, and January's Consumer Confidence report.

The Case-Shiller 20-city Home Price Index for November rose 5.8% (Briefing.com consensus 5.8%).
This followed the previous month's increase of 5.5%.
The FHFA Housing Price Index for November rose 0.5%, from an unrevised October reading of +0.5.
The Conference Board's Consumer Confidence Index increased to 98.1 in January (Briefing.com consensus 96.8) from a downwardly revised 96.3 (from 96.5) in December.
The Expectations Index increased from 83.0 to 85.9 in January. The Present Situation Index was unchanged at 116.4.
According to the Conference Board, the takeaway is that consumers do not foresee the volatility in financial markets as having a negative impact on the economy.

12:30 pm:

[BRIEFING.COM] The major averages trade just below new session highs with the S&P 500 (+1.5%) trading ahead of the tech-heavy Nasdaq (+1.3%).

The recent uptick in the averages has come as WTI crude approached the $32.00/bbl level. The commodity has climbed 5.0% to $31.87/bbl. Interestingly, today's advance has seen little leadership from three of the four top-weighted sectors. Technology (+1.2%), health care (+0.8%), and consumer discretionary (+1.3%) are trailing the broader market.

In the technology space, large-cap constituents Alphabet (GOOGL 735.80, +2.18) and Facebook (FB 97.19, +0.18) have shown relative weakness throughout today's session and only turned positive during the recent leg higher in crude. Elsewhere, Apple (AAPL 100.50, +1.07) was able to tick off its morning low ahead of its scheduled Q1 earnings report today after the close.

The recent uptrend in equities has caused Treasuries to tick lower with the yield on the benchmark note higher by two basis point to 2.02%.

12:00 pm:

[BRIEFING.COM] The major averages hover below their session highs with the Dow Jones Industrial Average (+1.6%) leading the S&P 500 (+1.2%).

The energy sector (+2.6%) shows the largest advance of the day as the sector continues to benefit from the 3.9% gain in WTI crude, which currently trades at $31.52/bbl.

Conversely, health care space (+0.3%) shows the slimmest advance of the day. Biotechnology has shown relative weakness in the space, evidenced by the 0.9% decline in the iShares Nasdaq Biotechnology ETF (IBB 280.66, -2.54). To be fair though, sector large-caps Pfizer (PFE 30.47, -0.03) and AbbVie (ABBV 58.40, 0.25) have shown little traction today with down ticks of 0.1% and 0.4%, respectively. Meanwhile sector heavyweight Johnson & Johnson (JNJ 99.66, +3.26) outperforms after reporting a Q4 earnings beat and guiding EPS above consensus for FY16.

Treasuries have inched forward in recent trade with the yield on the benchmark note now unchanged at 2.01%

11:35 am:

[BRIEFING.COM] The stock market hovers below its highest level of the day while the S&P 500 continues to find resistance near its 1900 level. Currently the benchmark index (+1.1%) leads the tech-heavy Nasdaq (+0.7%).

The industrials sector (+1.5%) trades narrowly behind the financials (+1.5%). This is thanks largely to the relative strength of 3M Company (MMM 144.25, +6.68), which is benefiting from a Q4 earnings beat. At this juncture, 3M is the best performing component of the Dow. Elsewhere, fellow Dow component Boeing (BA 126.8, +2.27) shows a gain of 1.9%. Conversely, Lockheed Martin (LMT 204.82, -6.28) has declined 3.0% after issuing lower than expected FY16 guidance. On a side note, Lockheed also announced that it will consolidate its Information and Global Solutions segment with Leidos (LDOS 49.77, -3.89).

On an unrelated note, WTI crude has advanced 3.2% to $31.33/bbl.

11:00 am:

[BRIEFING.COM] The major averages have slid off their fresh session highs with the Dow Jones Industrial Average (+1.5%) leading the S&P 500 (+1.1%) and the Nasdaq (+0.6%).

Energy (+1.9%) has extended its advance while financials (+1.7%), industrials (+1.5%), and consumer staples (+1.5%) follow. Elsewhere, health care (+0.2%) and technology (+0.8%) show the slimmest advances of the day, but have both moved back into positive territory.

In financials, money center banks show relative strength as Bank of America (BAC 13.34, +0.37), Citigroup (C 40.50, +0.95), and JPMorgan Chase (JPM 56.71, +1.04) outperform. The sector is likely enjoying a rebound from its January loss of 11.3%, which is only behind materials (-13.1%), during that period. Elsewhere in the group, American International Group (AIG 56.49, +1.13) has gained 2.1% after reporting it will be spinning off AIG Advisors to Lightyear Capital and PSP Investments.

10:40 am: [BRIEFING.COM]

Oil prices are rallying nicely this morning after comments that OPEC would reduce production if other nations did
Mar WTI is sharply off of overnight lows and are now +3% at $31.26/barrel
In other energy, Mar natural gas lost steam and is now -0.2% at $2.15/MMBtu
Precious metals and copper are at today's highs, helped by weakness in the dollar
Feb gold is currently +1% at $1116.40/oz, while Mar silver is +1.3% at $14.45/oz
Copper is trading+1.7% at $2.03/lb

10:00 am:

[BRIEFING.COM] The S&P 500 trades higher by 0.5%.

Just released, the consumer confidence reading for January came in at 98.1 while economists polled by Briefing.com expected the survey to hit 96.8. This followed the prior month's revised reading of 96.3 (from 96.5).

9:45 am:

[BRIEFING.COM] The major averages began their day on a positive note with the S&P 500 advancing 0.5%.

All ten sectors have opened their day in positive territory with yesterday's worst performer, energy (+1.2%), leading the pack. The commodity-sensitive group is followed by utilities (+1.2%), financials (+0.9%), and industrials (+0.8%). The slimmest gains of the day is posted by technology (UNCH) and health care (+0.3%). Biotech underperforms in the early going, evidenced by the 0.7% decline in the iShares Nasdaq Biotechnology ETF (IBB 280.85, -2.35).

Treasuries remain on their lows with the yield on the benchmark note higher by one basis point at 2.01%.

The Consumer Confidence Report for January (Briefing.com consensus 96.8) will be released at 10:00 ET.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +9.50. Nasdaq futures vs fair value: +18.80.

The stock market is on track for a modestly higher open with S&P 500 futures trading ten points above fair value.

Overnight, futures were hurt by a selloff in Asia that included a 6.4% decline in the Shanghai Composite. Futures were able to recover as oil rebounded from its losses overseas. Currently WTI crude trades higher by 1.7% at $30.85/bbl.

American International Group (AIG 56.45, +1.09) has climbed 2.0% after the company announced several moves to divest interests of the company. These have included a return of $25 billion to shareholders over the next two years, an IPO of United Guaranty, and selling AIG Advisor Group to Lightyear Capital LLC and PSP Investments.

On the economic front, the Case-Shiller 20-city Home Price Index for November rose 5.8% (Briefing.com consensus of 5.8%) while the FHFA Housing Price Index for November rose 0.5%.

Meanwhile, the Federal Open Market Committee is beginning their two day meeting today and will release their policy statement tomorrow at 2:00 pm ET. Any statement regarding the timing and direction of future policy decisions will likely have a heavy impact on the market, as investors try to get an idea of how the Fed is viewing the volatile start to 2016. Markets around the world have been responding favorably toaccomodative central bank inclinations (i.e. ECB, Japan), and we'd imagine asimilar market sentiment to shape the response to the Fed tomorrow.

9:02 am: [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +12.50.

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

Just released, the Case-Shiller 20-city Home Price Index for November rose 5.8% against the Briefing.com consensus of 5.8%. This followed the previous month's increase of 5.5%.

Elsewhere, the FHFA Housing Price Index for November rose 0.5%, from an unrevised October reading of +0.5.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +14.50.

The S&P 600 futures trade eight points above fair value.

Equity markets across Asia had a rough outing on Tuesday, ending the session mostly lower. China's Shanghai Composite was at the forefront of the retreat, falling 6.4%, while other indices posted slimmer losses. News flow from the region was relatively light, but it is worth noting that People's Bank of China assistant governor Zhang Xiaohui said the central bank has no plans to cut the reserve requirement ratio at this time. Elsewhere, one of Japan Prime Minister Shinzo Abe's advisors said that more easing from the Bank of Japan is still needed.

In economic data:
Japan's Corporate Services Price Index +0.4% year-over-year (expected 0.2%; last 0.2%)
Hong Kong's trade deficit HKD45.70 billion (expected HKD3.33 billion; prior HKD3.16 billion) as exports -1.1% month-over-month (expected -2.7%; last -3.5%) and imports -4.6% month-over-month (consensus -7.2%; last -8.1%)
South Korea's preliminary Q4 GDP +0.6% (expected 0.7%; previous 1.3%); +3.0% year-over-year, as expected (last 2.7%)
Singapore's Industrial Production +2.0% month-over-month (expected 1.2%; prior -3.9%); -7.9% year-over-year (consensus -7.0%; last -6.4%)
New Zealand's Credit Card Spending +7.4% year-over-year (last 8.4%)

---Equity Markets---

Japan's Nikkei lost 2.4% with every sector ending in the red. The decline was paced by utilities (-3.6%), industrials (-3.4%), energy (-3.3%), and technology (-3.0%). Unitika, TDK, SUMCO, Kobe Steel, Hitachi Construction, and Kawasaki Heavy Industries fell between 4.4% and 8.0%. On the flip side, only four names registered gains with Sumitomo Osaka Cement jumping 4.7%.
Hong Kong's Hang Seng dropped 2.5% with all but two names ending in the red. CNOOC, Petrochina, China Petroleum & Chemical, and China Shenhua Energy lost between 4.3% and 7.0%.
China's Shanghai Composite fell 6.4% amid broad weakness. China Shipbuilding, CITIC Securities, Industrial Securities, and China State Construction Engineering lost between 6.1% and 9.9%. On the upside, Dongfeng Automobile gained 2.6%.

Major European indices trade near their flat lines after climbing off their opening lows. The rebound in stocks has followed similar price action in crude oil as risk sentiment improves after an overnight drubbing during the Asian session. Meanwhile, the euro (1.0833) has inched lower against the dollar after showing brief strength overnight.

Economic data was limited:
Swiss December trade surplus narrowed to CHF2.54 billion from CHF3.16 billion (expected surplus of CHF3.30 billion)

---Equity Markets---

UK's FTSE is unchanged with financials and energy names among the laggards. Aberdeen Asset Management, Barclays, Royal Dutch Shell, and BP are down between 0.2% and 1.0%. On the flip side, select miners have shown strength with Fresnillo and Randgold Resources up 3.2% and 2.0%, respectively.
Germany's DAX trades higher by 0.3%, but more than half of its components remain in the red. Siemens has spiked 7.7% after boosting its forecast while utilities RWE and E.On follow with respective gains of 4.3% and 3.4%. Deutsche Bank also trades in the green, climbing 1.4% while Bayer, Daimler, and Adidas are down between 1.2% and 0.7%.
In France, the CAC has added 0.3% with growth-sensitive names showing some strength. Technip leads with a 3.8% gain while BNP Paribas, Credit Agricole, and Societe Generale are all up near 1.5%. On the downside, Alstom has tumbled 4.1% and Publicis Groupe is down 1.6%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +8.80.

U.S. equity futures trade slightly higher with the S&P 500 futures trading six points above fair value.

Equity futures recovered from more substantial overnight losses alongside a rebound in crude oil, and are shaking off a 6.4% decline in China's Shanghai Composite.

In company specific news, 3M Company (MMM 140, +2.43) is trading higher by 1.8% after the company reported a Q4 earnings beat with EPS of $1.66. The company has also reaffirmed FY16 guidance of EPS of $8.10-8.45. Elsewhere, Johnson & Johnson (JNJ 97.15, +0.75) has ticked higher by 0.8% following an EPS beat on slightly light revenue. The company also issued guidance above consensus with EPS of $6.43-6.58.

Meanwhile in commodities, WTI crude has recovered from a dip into negative territory. Oil is trading higher by 0.1% at $30.40/bbl.

Treasuries trade slightly lower with the yield on the benchmark note now higher by one basis point at 2.01%.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +2.00.

U.S. equity futures trade slightly higher with the S&P 500 futures trading three points above fair value.

Meanwhile, Treasuries sit near their pre-market lows with the yield on the benchmark higher by one basis point at 2.01%

Today's economic data includes the 9:00 ET release of November's Case-Schiller 20-city Index (Briefing.com consensus 5.8%) and the FHFA Housing Price Index for November. Meanwhile, January's Consumer Confidence report (Briefing.com consensus 96.8) crosses the wire at 10:00 ET.

In U.S. corporate news of note:

Sprint (S 2.75, +0.46): +18.3% following the company reporting a Q3 EPS beat with losses per share of $0.21 on a narrow revenue miss
3M Company (MMM 140.75, +3.18): +2.3% after the company reported a Q4 earnings beat with EPS of $1.66; the company also reaffirmed its FY16 guidance of $8.10-8.45.
Procter & Gamble (PG 77.94, +1.09): +1.4% following reporting a Q2 beat on EPS with in-line revenue
Johnson & Johnson (JNJ 96.50, +0.36): +0.4% after issuing above consensus FY16 guidance after beating Q4 earnings with EPS of $1.44
DuPont (DD 52.99, +0.00):+0.0% following reporting a Q4 earnings beat with EPS of $0.27 but issuing below consensus guidance for FY16 at $2.95-3.10
Lockheed Martin (LMT 212.75, +1.74): +0.8% after the company announced that it would separate and combine IT and tech services business with Leidos

Reviewing overnight developments:

Asian equity indices ended their sessions broadly lower with China's Shanghai Composite -6.4%, Hong Kong's Hang Seng -2.5%, and Japan's Nikkei -2.4%.
In economic data:
Japan's Corporate Services Price Index +0.4% year-over-year (expected 0.2%; last 0.2%)
Hong Kong's trade deficit HKD45.70 billion (expected HKD3.33 billion; prior HKD3.16 billion) as exports -1.1% month-over-month (expected -2.7%; last -3.5%) and imports -4.6% month-over-month (consensus -7.2%; last -8.1%)
South Korea's preliminary Q4 GDP +0.6% (expected 0.7%; previous 1.3%); +3.0% year-over-year, as expected (last 2.7%)
Singapore's Industrial Production +2.0% month-over-month (expected 1.2%; prior -3.9%); -7.9% year-over-year (consensus -7.0%; last -6.4%)
New Zealand's Credit Card Spending +7.4% year-over-year (last 8.4%)
In news:
The People's Bank of China assistant governor Zhang Xiaohui stated that the central bank has no plans to cut the reserve requirement ratio at this time.
An advisor to Japan's Prime Minister Shinzo Abe said that more easing from the Bank of Japan is still needed.

European indices trade lower with the U.K.'s FTSE -0.4%, Germany's DAX -0.3%, and France's CAC -0.1%.
Economic data was limited:
Swiss December trade surplus narrowed to CHF2.54 billion from CHF3.16 billion (expected surplus of CHF3.30 billion)
In news:
Equities rebounded in similar price action to crude oil's reverse
The euro (1.0829) has inched lower against the dollar after showing brief strength overnight

6:24 am: [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: -6.50.

5:59 am: [BRIEFING.COM] Nikkei...16709...-402.00...-2.40%. Hang Seng...18861...-479.30...-2.50%.

5:59 am: [BRIEFING.COM] FTSE...5824.96...-52.40...-0.90%. DAX...9669.3...-66.80...-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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