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 Post subject: January 27th Wednesday Trade Results - Profit $16250.00
PostPosted: Wed Jan 27, 2016 8:24 pm 
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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 @ $16250.00 dollars or +325.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $16250.00 dollars

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

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=152&t=2275

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 stock market ended its Wednesday affair under heavy selling pressure as the major indices sold off in response to the Federal Open Market Committee's policy statement for January. Today's trade saw a break with tradition as a jump in crude prices was not enough to alter the trajectory of the market. The S&P 500 (-1.1%) and the Dow Jones Industrial Average (-1.4%) returned all of their inter-day gains, but finished ahead of the tech-heavy Nasdaq (-2.2%), which spent the day in negative territory.

A rebound in crude oil helped lift equity markets from their opening lows, but the stock market stopped following oil once the FOMC statement crossed the wires. As for oil, WTI crude managed to attract buyers despite the commodity showing larger than expected builds in both the EIA and API weekly inventories. This bullish activity in the face of poor data and increasing chatter regarding production cut agreements between OPEC and non-OPEC states may have been enough to signal a bottom to some investors, or at the very least a spot to cover short positions. WTI crude ended its pit session higher by 2.5% at $32.22/bbl.

In the early afternoon, the latest directive from the Federal Open Market Committee demonstrated less dovish undertones than market participants may have been expecting. The statement partly acknowledged that growth had slowed and that inflation is expected to remain low in the near-term. However, the Fed's belief that inflation is expected to rise to 2.0% over the medium term in the face of declines in energy and import prices creates doubt as to whether the central bank will revise its glide path. Stocks ticked up immediately after the release, but followed that move with a slide to new lows.

A key earnings miss in the influential technology sector (-2.5%) helped keep the group at the bottom of the leaderboard. Technology was joined by heavily-weighted consumer discretionary (-1.5%) and health care (-1.1%) while telecom services (+0.8%) and utilities (+0.2%) ended in the green.

In the top-weighted technology space Apple (AAPL 93.44, -6.54) underperformed after issuing Q2 guidance below expectation while reporting a miss on revenue in their Q1 earnings report. Other heavyweight constituents like Alphabet (GOOLG 717.58, -16.21) and Facebook (FB 94.45, -2.89) shed 2.2% and 3.0%, respectively, with Facebook set to report after today's close.

Elsewhere, large-cap component Amazon (AMZN 583.35, -17.90) demonstrated relative weakness in the consumer discretionary space. Meanwhile, fellow heavyweight Disney (DIS 94.32, -1.95) outpaced the losses in the sector with a decline of 2.0%. Also of note, Netflix (NFLX 91.15, -6.68) slid 6.8% as the company continues to show weakness after reporting earnings last week.

Biotechnology showed relative weakness in the health care space, evidenced by the 3.1% decline in the iShares Nasdaq Biotechnology ETF (IBB 273.40, -8.68). This downshift came despite a strong performance from Biogen (BIIB 273.26, +13.39), which climbed 5.2%, after the company reported an earnings beat before today's open.

Treasuries moved to their lows during today's rally but were able to climb to session highs during the pullback in equity markets. The yield on the benchmark note ended its day unchanged at 2.00%.

Today's participation was true to recent form with more than a billion shareschanging hands at the NYSE floor.

Today's economic data included the weekly MBA Mortgage Index and the New Home Sales report. Later today the FOMC policy statement for January (Briefing.com consensus 0.5%) will be announced at 14:00 ET

The MBA Mortgage Index showed a seasonally adjusted increase of 8.8% in mortgage application from last week's 9.0 increase.
New home sales were up 10.8% month-over-month in December to a seasonally adjusted annual rate of 544,000 (Briefing.com consensus of 506,000) versus 491,000 in December (revised from 490,000).
An estimated 501,000 new homes were sold in 2015, which is up 14.5% from 2014.

Tomorrow's economic data includes weekly Initial Claims (Briefing.com consensus 285k) and Durable Orders for December (Briefing.com consensus -0.5%) being reported at 8:30 ET. Meanwhile, Pending Home Sales for December (Briefing.com consensus 0.8%) will cross the wires at 10:00 ET.

Russell 2000 -11.8% YTD
Nasdaq -10.8% YTD
Dow Jones -8.5% YTD
S&P 500 -7.9% YTD

3:40 pm: [BRIEFING.COM]

Post-FOMC, the dollar index slid lower, pushing gold and silver futures higher in electronic trade
Feb gold ended pit trading -$5.40 at $1115.30/oz, but rose as high as $1128/oz following the Fed
Meanwhile, Mar silver ended floor trading -0.8% at $14.43/oz, but rose near $14.60 in more recent trade
WTI crude oil has been volatile again, rallying in floor trade today. Mar crude ended the session +3% at $32.31/barrel, but pulled back below $32 in electronic trade
Mar nat gas ended the day flat at $2.18/MMBtu

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour the major averages trade at fresh session lows with the tech-heavy Nasdaq (-1.9%) trailing the Dow Jones Industrial Average (-1.2%) and the S&P 500 (-1.0%).

Countercyclical telecom services (+0.5%) is the only sector remaining in positive territory while utilities flirts with its flat line. Meanwhile, technology (-2.2%) has extended its losses with consumer discretionary (-1.3%) following.

In the Dow Jones Transportation Average (-0.5%) has shown relative strength due in large part to FedEx (FDX 129.48, +2.19). The shipping giant has climbed 1.7% in response to the company authorizing a new repurchase program for up to 25 million shares. Rail component Norfolk Southern (NSC 70.11, +1.21) has climbed 1.8% despite reporting a miss on both revenue and earnings during their Q4 report this morning.

Treasuries have swung back to session highs with the yield on the benchmark note now unchanged at 2.00%.

2:30 pm:

[BRIEFING.COM] The stock market has stumbled from its high following the release of the Federal Open Market Committee's January Policy statement. The Nasdaq (-1.1%) remains well behind the broader market while the S&P 500 (-0.2%) trades near its flat line.

The latest directive from the Federal Open Market Committee had some dovish undertones, as many thought it might. The acknowledgment that growth has slowed and that inflation is expected to remain low in the near term are seemingly some semantical hints that the Fed is disinclined to raise the fed funds rate in March; however, the continued belief that inflation is expected to rise to 2.0% over the medium term creates some doubt as to whether the Fed is ready to wave the white flag just yet on four rate hikes by the end of the year. Accordingly, the market has struggled a bit with the early response to the directive.

Following the announcement, health care (-0.3%) and industrials (-0.2%) fell beneath their flat lines to join consumer discretionary (-0.5%) and technology (-1.3%) in negative territory.

In the health care space, biotechnology sold off heavily following the policy statement. The iShares Nasdaq Biotechnology ETF (IBB 279.00, -2.78) fell from its flat line to a loss of 1.1% in the half hour since its release.

2:00 pm:

[BRIEFING.COM] The major averages have slid in recent trade as the stock market as a whole pares its gains along with crude oil. The S&P 500 (+0.3%) outperforms the Dow Jones Industrial Average (+0.1%) and the Nasdaq (-0.5%).

The consumer discretionary space (UNCH) has dipped beneath its flat line as it joins technology (-0.9%) in negative territory.

Large-cap component Amazon (AMZN 590.78, -10.47) has demonstrated relative weakness with a 1.7% decline. Meanwhile, Toyota Motors (TM 116.33, +1.94) outperforms after the automaker maintained its lead in global sales for 2015, with more than 10.1 million vehicles sold. Elsewhere, Netflix (NFLX 94.14, -3.67) continues to slide after the company reported earnings last week.

On the commodities front, WTI crude has slipped beneath the $32.00/bbl level and trades higher by 1.9% at $32.04/bbl.

Just released the Federal Open Market Committee's January policy statement. We will have analysis of their policy statement and market implications during our next update.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to trade mixed as stocks bounce around base levels.

A look inside the Dow Jones Industrial Average shows that Verizon (VZ 49.24, +0.99), Goldman Sachs (GS 157.34, +2.89), and JPMorgan (JPM 58.00, +0.92) are outperforming amid broad strength in their respective sectors. For Verizon, telecoms are today's best performing sector.

Conversely, Boeing (BA 118.36, -9.65) is the worst-performing Dow component after reporting its Q4 results and offering FY16 guidance that was notably short of analyst expectations.

Effectively unchanged for the day, the DJIA is holding losses of 7.3% for the month.

Elsewhere, the Treasury's $35 bln 5-year note auction at the top of the hours drew a high yield of 1.496% on a bid-to-cover of 2.44

1:05 pm:

[BRIEFING.COM] The S&P 500 (+0.3%) and the Dow Jones (UNCH) hold slim gains at midday while the tech-heavy Nasdaq (-0.4%) underperforms. Today's trade has been true to recent form with the stock market moving in lockstep with the trajectory of crude oil. Other noticeable influences have been:

A continued rebound effort in financials
Weakness from corporate giants Apple (AAPL 95.30, -4.70) and Boeing (BA 118.22, -9.79); and
Cautious trading ahead of the Federal Open Market Committee's policy statement

Crude oil began its day under heavy pressure after yesterday's API report. Despite a second bad data point in the form of the EIA report, which showed a 8.383 million barrel build (expected 3.277 million barrel), WTI crude rallied in late morning trade. This bullish response to two negative reports has some participants speculating that the worst of the downside has been seen. Recent reports of OPEC and non-OPEC states discussing possible agreements on production cuts have added to this speculation. Oil currently trades higher by 2.2% at $32.14/bbl.

The energy sector (+1.0%) has been able to capitalize on the recent price swing in oil as it outperforms the other groups. The commodity-sensitive sector is followed by telecom services (+1.0%), materials (+0.9%) and financials (+0.9%).

Elsewhere, the top-weighted technology space (-0.9%) is the only sector remaining in negative territory. Influential component, Apple (AAPL 95.30, -4.70) has led the decline in the space with a 4.6% nosedive. This decline comes on the heels of the company issuing Q2 guidance below analyst expectations after reporting a revenue miss on their Q1 earnings report.

For its part, the financial space continues to rebound from its difficult start to 2016. Including today's gain the sector is down 10.3% in the month of January. Capital One (COF 63.45, +3.07) has outpaced the advance in the group with a 5.0% climb after reporting a Q4 beat on EPS and revenue. Meanwhile, money center banks Bank of America (BAC 13.62, +0.31), Citigroup (C 41.41, +0.91), and JPMorgan Chase (JPM 57.91, +0.83) have shown relative strength with advances between 1.5% and 2.3%.

The industrial space (+0.1%) is being dragged lower by heavyweight Boeing (BA 118.22, -9.79) which shows the worst decline in the sector. Boeing has plummeted 7.6% after the company issued below consensus earnings guidance. Elsewhere, United Technologies (UTX 86.50, +0.86) has climbed 1.0% after the company reported an EPS beat on light revenue.

Treasuries have notched new lows as the rally in equities continues. The yield on the benchmark note is higher by four basis points at 2.04%.

Today's economic data included the weekly MBA Mortgage Index and the New Home Sales report. Later today the FOMC policy statement for January (Briefing.com consensus 0.5%) will be announced at 14:00 ET

The MBA Mortgage Index showed a seasonally adjusted increase of 8.8% in mortgage application from last week's 9.0 increase.
New home sales were up 10.8% month-over-month in December to a seasonally adjusted annual rate of 544,000 (Briefing.com consensus of 506,000) versus 491,000 in December (revised from 490,000).
An estimated 501,000 new homes were sold in 2015, which is up 14.5% from 2014.

12:30 pm:

[BRIEFING.COM] The major averages hover just below new session highs as the stock market continues to benefit from an ongoing rally in crude. The S&P 500 (+0.5%) leads the Dow Jones Industrial Average (+0.3%) and the Nasdaq (-0.2%).

The heavily-weighted technology space (-0.7%) continues to trail the broader market as consumer discretionary (+0.5%) and industrials (+0.3%) follow.

At this juncture, heavyweight Boeing (BA 119.62, -8.39) weighs on the industrials group as the company shows the worst decline in the sector. Boeing plummeted 3.5% after the company issued below consensus FY16 EPS guidance. Meanwhile, United Technologies (UTX 86.98, +1.33) has climbed 1.5% after the company reported an EPS beat on light revenue.

Treasuries have slid to new session lows with the yield on the benchmark note higher by four basis points to 2.04%.

12:00 pm:

[BRIEFING.COM] The Dow Jones Industrial (+0.2%) and the S&P 500 (+0.4%) have rallied into positive territory as crude oil leads the advance.

The resurgence of oil has helped nine of ten sectors move into or expand their gains. Understandably, energy (+1.4%) has climbed ahead of the other sectors while financials (+1.1%) follows. Elsewhere technology has trimmed its loss to 0.7%.

Despite misses on both the EIA and API weekly reports, WTI crude has managed to skyrocket 2.6%, bringing the energy component up to $32.23/bbl. This bullish response to two largely negative reports may have participants believing that the worst of the downside has been experienced. Recent reports of OPEC and non-OPEC states discussing possible agreements on production cuts have added to this speculation.

In the energy space, ConocoPhillips (COP 36.84, +1.49) has climbed 4.3% after beginning its session in negative territory while Dow component Chevron (CVX 85.29, +1.17) has gained 1.4%.

11:35 am:

[BRIEFING.COM] The major averages continue to move in lockstep with crude oil as the S&P 500 (-0.1%) and the tech-heavy Nasdaq (-0.8%) trim their losses.

Financials (+0.6%) has climbed up past consumer staples (+0.5%) and energy (+0.5%) to outperform the other sectors.

The financial space, continues to rebound from its difficult start to the year as money center banks Bank of America (BAC 13.45, +0.13), Citigroup (C 41.04, +0.53), and JPMorgan Chase (JPM 57.52, +0.45) outperform. Meanwhile, Capital One (COF 63.96, +3.58) leads with a 5.6% climb after reporting a Q4 beat on EPS and revenue.

Treasuries have ticked back to their lows ias the yield on the benchmark note moves higher three basis points to 2.03%.

11:00 am:

[BRIEFING.COM] The major indices retreated to session lows when a dip in crude coincided with a positive reading in new home sales for December. The market ticked above these levels as WTI crude rallied to positive territory but oil has since drifted lower with the stock market following. The S&P 500 (-0.5%) leads the tech-heavy Nasdaq (-1.1%).

Technology (-1.7%) leads the downside where the influential sector is followed by industrials (-0.8%). Meanwhile, countercylicals consumer staples (+0.2%) and utilities (+0.1%) outperform.

In the influential tech space, Apple (AAPL 94.57, -5.42) has surrendered 5.4% after reporting a miss on revenue in Q1. The company is also facing headwinds from its Q2 guidance which came in under analyst expectations. Fellow large-caps Alphabet (GOOGL 728.21, -5.58) and Microsoft (MSFT 51.53, -0.64) have lost 0.8% and 1.3%, respectively.

Treasuries have ticked off their lows with the yield on the benchmark index higher by two basis points at 2.02%.

10:40 am: [BRIEFING.COM]

Crude oil prices were the big story of the day in the commodities space given the huge 11.4 mln build in U.S. oil storage levels, reported by the API
Just now, the EIA reported its own weekly oil storage data of a build of 8.383 mln barrels of oil
The agency also reported a build in gasoline of 3.464, but a draw in distillates of 4.057 mln
Following this data, oil prices began to rise higher. Mar crude oil is now
In other energy, March natural gas futures are
The dollar index is lower this morning (climbing higher in recent trade), but this isn't doing much for commodities
Metals such as gold, silver and copper are trading lower this morning despite this weakness in the dollar
Feb gold is now -0.3% at $1116.90/oz, while Mar silver is -0.8% at $14.45/oz
Mar copper is no -0.7% at $2.05/lb

10:00 am:

[BRIEFING.COM] The S&P 500 trades lower by 0.4%.

Just released, New Home Sales in December hit an annualized rate of 544,000, which was higher than the revised November rate of 491,000 (from 490,000), and more than the 506,000 that was expected by the Briefing.com consensus.

9:50 am:

[BRIEFING.COM] The major averages have started their day in negative territory with the Dow Jones Industrial Average (-0.5%) trailing the Nasdaq (-0.5%) and the S&P 500 (-0.1%).

Technology (-1.0%) sits well behind the other sectors as energy (-0.2%) trimmed its opening loss courtesy of WTI crude climbing above the 31.00/bbl price level. Meanwhile, most sectors trade close to their flat lines as countercyclical consumer staples (+0.3%) and health care (+0.1%) outperform. On that note, biotechnology has shown relative strength early on, evidenced by the 0.5% gain in the iShares Nasdaq Biotechnology ETF (IBB 283.49, +1.41).

Treasuries have inched lower with the yield on the benchmark note higher by three basis points 2.03%.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -18.00.

The stock market is on track for a flat open with S&P 500 futures trading within four points of fair value. Index futures picked up off their pre-market lows heading into the U.S. open, as European indices experienced a similar uptick.

In specific company news, U.S. Steel (X 7.01, -0.76) has plummeted 9.8% after the company announced that it expects to see "lower results" in each of their operating segments compared to 2015. In the biotechnology space, Biogen (BIIB 274.47, +14.60) has climbed 5.6% after the company reported an earnings beat.

Crude oil has trimmed some of it loss in recent trade, as the energy component trades lower by 1.8% at $30.87/bbl. This move comes ahead of the EIA crude oil inventories report, which will cross the wires at 10:30 ET

Treasuries sit on their lows as equity futures pulled back from their worst levels. The yield on the benchmark note is higher by two basis points at 2.02%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -18.00.

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

Markets in the Asia-Pacific region ended the midweek session on a mixed note. China's Shanghai Composite (-0.5%) showed a brief gain at the start, but the index could not hold its ground into the close. Meanwhile, Japan's Nikkei spiked 2.7%, ending near its best level of the day. It is worth noting that Japan's Prime Minister Shinzo Abe has voiced support for Economy Minister Akira Amari, who has been the subject of a graft investigation.

In economic data:
China's December Industrial Profits -4.7% (previous -1.4%), representing the seventh consecutive decline
Australia's Q4 CPI +0.4% quarter-over-quarter (expected 0.3%; previous 0.5%); +1.7% year-over-year (consensus 1.6%; prior 1.5%). Separately, Q4 Trimmed Mean CPI +0.6% quarter-over-quarter (consensus 0.5%; last 0.3%) and MI Leading Index -0.3% month-over-month (previous -0.3%)
South Korea's January Consumer Confidence slipped to 100 from 103

---Equity Markets---

Japan's Nikkei gained 2.7% amid broad strength. Every sector ended the day comfortably in the green with energy (+4.3%), communications (+3.9%), utilities (+3.7%), and financials (+3.5%) pacing the rally. Suzuki Motor, Toho Zinc, Softbank, Oki Electric, and Kubota finished among the leaders with gains between 5.1% and 11.4%. On the downside, Citizen Holdings lost 2.2%.
Hong Kong's Hang Seng advanced 1.0% with gaming and property names showing relative strength. Sands China spiked 6.5% ahead of its parent's earnings report while Galaxy Entertainment rallied 4.2%. As for property names, Henderson Land, China Resources Land, and Sino Land advanced between 3.7% and 5.5%.
China's Shanghai Composite lost 0.5% after enduring another volatile session. China Shipbuilding Industry, Industrial Securities, and Bank of China fell between 0.5% and 4.2%. Elsewhere, China Petroleum & Chemical gained 1.9%.

Major European indices trade on a mixed note with Italy's MIB (-1.0%) pacing the retreat amid intensifying focus on the country's troubled banking sector. Earlier today, the Financial Times reported the country has reached a deal with European Union officials to offload non-performing loans onto a bad bank.

In economic data:
Germany's February GfK Consumer Climate held at 9.4 (expected 9.3)
UK's Nationwide HPI +0.3% month-over-month (expected 0.6%; previous 0.8%); +4.4% year-over-year (consensus 4.7%; last 4.5%). Separately, BBA Mortgage Approvals hit 44,000 (expected 45,500; previous 44,500)
France's January Consumer Confidence ticked up to 97 from 96 (consensus 96)
Italy's January Business Confidence slipped to 103.2 from 104.0 (expected 103.9) while Consumer Confidence improved to 118.9 from 117.7 (consensus 117.0)

---Equity Markets---

UK's FTSE is higher by 0.1% with miners and financials struggling. Anglo American, BHP Billiton, and Rio Tinto are down between 1.3% and 4.9% while Royal Bank of Scotland and Lloyds Banking hold respective losses of 3.6% and 1.9%. On the upside, Sage Group has climbed 4.1% in reaction to upbeat guidance.
France's CAC trades down 0.2% amid losses in most components. Growth-sensitive Solvay, ArcelorMittal, Technip, and Air Liquide are down between 1.8% and 2.9% while financials BNP Paribas, Credit Agricole, and Societe Generale hold losses between 1.7% and 2.1%.
Germany's DAX trades flat, with heavyweights BASF, Siemens, and ThyssenKrupp down between 2.9% and 3.7%. Financials also lag with Deutsche Bank and Commerzbank down near 1.5% apiece. On the upside, E.ON has added 1.3% and Fresenius trades up 1.9%.
Italy's MIB has tumbled 1.0% with banking shares under pressure after showing some strength at the start. UBI Banca and Unicredit have both had their shares halted due to volatility and the two hold respective losses of 5.3% and 4.1% at this juncture.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -4.70. Nasdaq futures vs fair value: -16.50.

U.S. equity futures have ticked up off their lows with S&P 500 futures trading five points below fair value.

On the corporate front, after yesterday's close Apple (AAPL 96.20, -3.79) reported a miss on Q1 revenue and issued revenue guidance for Q2 below analyst expectations. The tech giant expects Q2 revenue of $50-53 billion. The company saw some softness in China earlier this month but remains confident in China. Large-cap Boeing (BA 119.60, -8.41) has slid 6.6% in pre-market trading after the company beat on EPS and in-line revenue, but issued downside guidance for FY2016. Meanwhile, Norfolk Southern (NSC 69.53, +0.34) just reported a narrow miss on Q4 EPS on in-line revenue.

WTI crude surrendered the $31.00/bbl price level overnight as supply glut issues resurfaced after the API inventory report showed a build of 11.4 million barrels of crude versus the expected 3.5 million build. Oil trades lower by 1.95 at $30.86/bbl.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -26.40.

U.S. equity futures trade broadly lower with the S&P 500 futures trading nine points below fair value.

Equity futures struck a cautious note overnight, after oil slid following a larger than expected inventory build. Meanwhile, S&P futures soured after Apple (AAPL 96.17, -3.82) missed revenue expectations and guided lower on perceived issues in China. Futures have also been anchored by cautious sentiment ahead of the Federal Open Market Committee's policy statement this afternoon.

Meanwhile, Treasuries have ticked down and sit at their pre-market lows. The yield on the benchmark note is higher by two basis point to 2.02%.

On the economic front, the weekly MBA Mortgage Index was reported at 7:00 ET, showing a seasonally adjusted increase of 8.8% in mortgage applications. Meanwhile, New Home Sales (Briefing.com consensus 506k) and the FOMC policy statement for January (Briefing.com consensus 0.5%) will cross the wires at 10:00 ET and 14:00 ET, respectively.

In U.S. corporate news of note:

Apple (AAPL 96.17, -3.82): -3.8% following a miss on Q1 revenue expectations and issued guidance for Q2 on the low end of analyst expectations
At&T (T 34.70, -0.70): -2.0% after the company reported in-line Q4 EPS on lighter than expected reveneue
Biogen Inc. (BIIB 274.50, +14.63): +5.6% following the company's beat on EPS and revenue for Q4
Boeing (BA 122.30, -5.71): -4.5% after the company issued below consensus guidance for FY16 with EPS of $8.15-8.35
United Technologies (UTX 86.00, +0.31): +0.3% following a beat on Q4 revenue on lighter than anticipated revenue

Reviewing overnight developments:

Asian markets ended their session on a mixed note with Japan's Nikkei +2.7%, Hong Kong's Hang Seng +1.0%, and China's Shanghai Composite -0.5%
In economic data:
China's December Industrial Profits -4.7% (previous -1.4%), representing the seventh consecutive decline
Australia's Q4 CPI +0.4% quarter-over-quarter (expected 0.3%; previous 0.5%); +1.7% year-over-year (consensus 1.6%; prior 1.5%). Separately, Q4 Trimmed Mean CPI +0.6% quarter-over-quarter (consensus 0.5%; last 0.3%) and MI Leading Index -0.3% month-over-month (previous -0.3%)
South Korea's January Consumer Confidence slipped to 100 from 103
In news:
Japan's Prime Minister Shinzo Abe has voiced support for Economy Minister Akira Amari, who has been the subject of a graft investigation.

European indices trade lower with Germany's DAX -0.4%, the U.K.'s FTSE -0.2%, and France's CAC -0.4%. Elsewhere, Italy's MIB has slipped 1.7%.
In economic data:
Germany's February GfK Consumer Climate held at 9.4 (expected 9.3)
UK's Nationwide HPI +0.3% month-over-month (expected 0.6%; previous 0.8%); +4.4% year-over-year (consensus 4.7%; last 4.5%). Separately, BBA Mortgage Approvals hit 44,000 (expected 45,500; previous 44,500)
France's January Consumer Confidence ticked up to 97 from 96 (consensus 96)
Italy's January Business Confidence slipped to 103.2 from 104.0 (expected 103.9) while Consumer Confidence improved to 118.9 from 117.7 (consensus 117.0)
In news:
The Financial Times reported that Italy has reached a deal with European Union officials to offload non-performing loans.

5:54 am: [BRIEFING.COM] S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -30.00.

5:54 am: [BRIEFING.COM] Nikkei...17164...+455.00...+2.70%. Hang Seng...19052...+191.70...+1.00%.

5:54 am: [BRIEFING.COM] FTSE...5884.19...-27.30...-0.50%. DAX...9771.36...-51.40...-0.50%.

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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