TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 1:06 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: January 28th Thursday Trade Results - Profit $3875.00
PostPosted: Fri Jan 29, 2016 6:06 am 
Offline
Site Admin

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

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
012816-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3875.00.png
012816-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3875.00.png [ 93.24 KiB | Viewed 334 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $3875.00 dollars or +77.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $3875.00 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=2276

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.


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


4:15 pm: [BRIEFING.COM] The major averages ended the Thursday affair modestly higher as speculation regarding oil output cuts, and positive earnings results helped keep the stock market in positive territory. However, the major indices lost their footing near their opening highs as weaker than expected economic data, and conflicting reports between OPEC and non-OPEC states limited the upside of today's trade. The tech-heavy Nasdaq (+0.9%) outpaced the Dow Jones Industrial Average (+0.8%) and the S&P 500 (+0.6%).

Today's session began on a positive note with earning results from Facebook (FB 109.11, +14.66) and Under Armour (UA 84.07, +15.49) each coming in ahead of analysts' estimates. Meanwhile, industrial giant Caterpillar (CAT 61.08, +2.76) issued above consensus EPS guidance for 2016 in its earnings report.

On the commodities front, WTI crude was able to extend its recent win streak due to increased speculation regarding oil production cuts between OPEC and non-OPEC states. This culminated when the Russian Energy Minister, Alexander Novak, released a statement saying that Saudi Arabia proposed a 5.0% cut to oil production by member states. This was followed by a denial from OPEC delegates, but despite the denial, oil was able to hold its ground above the $33.00/bbl level. WTI crude ended its session higher by 2.8% at $33.22/bbl.

In response to the upswing in oil, energy (+3.2%) settled on top of the leaderboard while utilities (+1.6%) and technology (+1.5%) followed. On the flipside, health care (-2.3%) was unable to make it out of negative territory while telecom services (+0.1%) and financials (+0.1%) also underperformed.

In the commodity-sensitive energy space, pipeline company Kinder Morgan (KMI 15.29, +1.19) and oilfield service company Schlumberger (SLB 69.51, +3.96) were able to capitalize on the positive price movement in crude to top the sector. Meanwhile, Dow components Chevron (CVX 85.92, +2.63) and Exxon Mobil (XOM 76.99, +1.70) were able to end their day near the top of that composite.

Switching gears, Facebook (FB 109.11, +14.66) dominated in the heavily-weighted technology space as it climbed 16.6% in response to a fourth quarter earnings beat. Fellow large cap Alphabet (GOOGL 748.30, +30.72) also outperformed, climbing 4.2%. To be fair, there was some relative weakness in the tech space as Cisco Systems (CSCO 23.10, -0.32) slid 1.4% in sympathy with Juniper Networks (JNPR 22.46, -4.08). Juniper plummeted 15.4% after issuing downside EPS guidance for Q1. Similarly, Qualcomm (QCOM 43.59, -3.94) lost 8.3% after below consensus guidance overshadowed better than expected earnings.

In health care, biotechnology showed persistent weakness, evidenced by the 3.7% tumble in the iShares Nasdaq Biotechnology ETF (IBB 263.40, -10.00). The sub-group responded to weakness in Celgene (CELG 97.21, -5.10), which missed bottom line estimates and issued below-consensus guidance.

Elsewhere, the financial sector continued to be anchored by American Express (AXP 52.88, -1.64), which has slid more than 16.0% since it reported earnings last week. Meanwhile, large-cap constituents Citigroup (C 40.39, -0.10) and Morgan Stanley (MS 25.17, -0.20) also showed relative weakness.

Once again, today's volume was relatively heavy as more than a billion shares changed hands at the NYSE floor.

Treasuries retreated from their lows for the bulk of the session, pressuring the 10-yr yield one basis point to 1.99%.

Today's economic data included weekly Initial Claims, Durable Orders for December, and Pending Home Sales for December.

Weekly initial claims were a bit better than expected, dropping to 278,000 (Briefing.com consensus 285,000) for the week ending January 23.
Initial claims remain bounded between 250,000 and 300,000, which is where they have been since July 2014, yet they have been showing signs of weakening in more recent reports.
Continuing rose to 2.268 million from the prior week's revised count of 2.219 from 2.208 million (Briefing.com consensus 2.230 million).
The four-week moving average for continuing claims sits at 2.246 million, up nearly 16,000 from the prior week's revised average.
Durable Goods Orders declined 5.1% (Briefing.com consensus -0.5%) on top of a downwardly revised 0.5% decrease (from 0.0%) for November.
Total durable goods orders are down 3.5% year-over-year while orders, excluding transportation, are down 2.6%.
Excluding transportation, orders fell 1.2% (Briefing.com consensus -0.1%) on the heels of a downwardly revised 0.5% decline (from 0.0%) for November.
Pending home sales for December ticked higher 0.1% (Briefing.com consensus +0.8%). The November reading was revised to -1.1% from -0.9%.

Tomorrow's economic data includes the advance reading of Q4 GDP (Briefing.com consensus 0.9%) will be released at 8:30 ET. Meanwhile, Chicago PMI for January (Briefing.com consensus 45.0) and the final reading of the January Michigan Sentiment Index (Briefing.com consensus 93.2) will cross the wires at 9:45 ET and 10:00 ET, respectively.

Russell 2000 -11.7% YTD
Nasdaq -10.0 YTD
Dow Jones -7.8% YTD
S&P 500 -7.4% YTD

3:45 pm: [BRIEFING.COM]

Oil prices got a real boost this morning following news follows reports that Russia's Energy Minister suggested that OPEC and non-OPEC countries could meet next month to discuss supply
Mar WTI crude oil rose as high as $34.82/barrel as a result, rising as much as 7%, but has pulled back in afternoon trade
Mar crude ultimately closed out of today's session at +2.8% at $33.22/barrel
Natural gas futures got a boost after the EIA released weekly oil storage data numbers
Mar nat gas ended the day modestly higher at $2.18/MMBtu and extended gains a little in electronic trade, not sitting at today's HoD
Mar gold ended higher at $1127.40/oz, while Mar silver gained as well, closing the session at $14.53/oz
Copper shed one cent to $2.05/lb

2:55 pm:

[BRIEFING.COM] As the stock market enters its final hour of trading, the major averages have drifted below their session high levels. The Nasdaq (+0.7%) leads the Dow Jones Industrial Average (+0.6%) and the S&P 500 (+0.4%).

Energy (+2.5%) continues to sport the largest advance, while utilities (+1.8%) and technology (+1.3%) outperform the other sectors. Energy was helped by a 2.9% climb in WTI crude which ended its pit session at $33.22/bbl.

In the technology space, Facebook (FB 110.09, +15.64) continues to dominate as it climbs 16.6% in response to positive earnings results. Elsewhere, Cisco Systems (23.11, -0.31) has slid 1.3% in sympathy with Juniper Networks (JNPR (22.28, -4.26). Juniper has plummeted 16.0% after issuing downside EPS guidance for Q1 during its earnings report. Finally, Microsoft (MSFT 51.71, +0.49) underperforms the space in defensive action before the company reports its Q2 earnings results after today's close.

Treasuries trade near their highs with the yield on the benchmark note now lower by two basis points at 1.98%.

2:30 pm:

[BRIEFING.COM] The major indices have climbed higher but remain underneath their morning highs. The S&P 500 (+0.6%) trails the Nasdaq (+0.8%).

Nine of ten sectors currently trade in positive territory with only health care (-2.1%) beneath its flat line. Energy's (+2.8%) continues to lead over utilities (+2.1%).

The Dow Jones Transportation Average (-0.8%) has been impacted by poor performances from the major airlines. JetBlue (JBLU 19.75, -1.51) has slid 7.1% after the company disclosed on their conference call that Winter Storm Jonas lowered passenger revenue per available seat mile by 2%. United Continental Holding (UAL 46.43, -1.28), American Airlines (AAL 38.04, -1.65) and Delta Airlines (DAL 43.34, -1.38) trade lower between 3.1% and 4.2% as they may also face headwinds from the storm.

1:55 pm:

[BRIEFING.COM] The major averages have inched back into the upper half of their trading ranges. The tech-heavy Nasdaq (+0.7%) leads the S&P 500 (+0.5%) and the Dow Jones Industrial Average (+0.4%).

The utilities sector (+1.8%) has outpaced technology (+1.3%) in recent trade while financials (+0.3%) trail the broader market, trading only ahead of health care (-2.0%) and telecom services (+0.2%).

The financial sector is being weighed down by American Express (AXP 52.50, -2.02). The company has slid 16.2% since it reported earnings last week. Meanwhile, large-cap constituents Citigroup (C 40.40, -0.11) and American International Group (AIG 54.71, +0.17) continue to underperform in the space.

Treasuries have notched new session highs in recent trade with the yield on the benchmark note now lower by two basis points at 1.98%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices are relatively unchanged since our last update, despite having moved lower earlier in the hours.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 60.06, +1.74), Nike (NKE 60.96, +1.38), and Chevron (CVX 85.20, +1.91) are outperforming. Caterpillar is leading the Dow after reporting its Q4 results and offering mixed full year guidance while Nike trades higher in sympathy following Under Armour's (UA 82.97, +14.39) strong quarterly report. Chevron is higher as the energy sector rallies amid strength in crude oil futures.

Conversely, American Express (AXP 82.26, -2.26) is the worst-performing Dow component following weak earnings from peer Discover (DFS 45.26, -3.46).

For the week, the DJIA is down 0.57%, and over 8% for the month.

Elsewhere, the Treasury's $29 bln 7-year auction at the top of the hour drew a high yield of 1.759% on a bid-to-cover of 2.63.

1:05 pm:

[BRIEFING.COM] The stock market sports modest midday gains as equities recover from a slight pullback in oil. The major averages began their day at session highs courtesy of a rally in oil and positive sentiment from better than expected earnings. However, disappointing economic data has contributed to a retreat from opening highs. At this junctures, the Nasdaq (+0.9%) leads the S&P 500 (+0.6%) and the Dow Jones Industrial Average (+0.4%).

Ahead of today's session speculation abounded that OPEC and non-OPEC states were discussing production cuts due to the existing supply glut. Speculation hit a high when Russian Energy Minister Alexander Novak stated that Saudi Arabia proposed a 5% cut to oil production by member states. However, OPEC denied plans to hold talks regarding potential oil output cuts. In reaction to this news, oil abandoned its highs but remains above the $33.00/bbl level with an increase of 3.5% to $33.43/bbl.

Commodity-sensitive energy (+2.6%) continues to outperform the other sectors as technology (+1.4%) and utilities (+1.4%) jockey for the second position. Meanwhile, health care (-1.8%) posts the only tangible decline of the day.

The continued rebound in crude oil has helped keep Dow components Chevron (85.13, +1.84) and Exxon Mobil (XOM 76.48, +1.19) near the top of that composite. Meanwhile, in the broader energy space, independent oil and gas companies such as ConocoPhillips (COP 37.85, +1.64) have sported the largest gains, while oilfield service company Schlumberger (SLB 68.77, +3.22) also outperforms.

In the heavily-weighted technology space, Facebook (FB 109.23, +14.78) continues to lead after the company reported that ad revenue grew 57% in Q4, which helped the company post a beat in top and bottom line results. Meanwhile, Qualcomm (QCOM 43.90, -3.63) has slid 7.7% after issuing below consensus guidance in its earnings report. The company has contributed to weakness in the PHLX Semiconductor Index, which has slipped 0.6%. However, fellow component Texas Instruments (TXN 50.97, +0.68) posts a gain of 1.4% after reporting a Q4 EPS beat after yesterday's close.

Health care has traded in negative territory the entire session, due in part to weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 264.94, -8.76) has slid 3.2%. An earnings miss by component Celgene (CELG 98.27, -4.04) is hurting the sub-group. To be fair though large-cap Eli Lilly (LLY 78.57, -3.19) is also weighing on the sector as the company shows a loss of 3.9%.

Treasuries are retreating back towards their lows as equities rise. The yield on the benchmark note is higher by one basis point at 2.01%.

Today's economic data has included weekly Initial Claims, Durable Orders for December, and Pending Home Sales for December.

Weekly initial claims were a bit better than expected, dropping to 278,000 (Briefing.com consensus 285,000) for the week ending January 23.
Initial claims remain bounded between 250,000 and 300,000, which is where they have been since July 2014, yet they have been showing signs of weakening in more recent reports.
Continuing rose to 2.268 million from the prior week's revised count of 2.219 from 2.208 million (Briefing.com consensus 2.230 million).
The four-week moving average for continuing claims sits at 2.246 million, up nearly 16,000 from the prior week's revised average.
Durable Goods Orders declined 5.1% (Briefing.com consensus -0.5%) on top of a downwardly revised 0.5% decrease (from 0.0%) for November.
Total durable goods orders are down 3.5% year-over-year while orders, excluding transportation, are down 2.6%.
Excluding transportation, orders fell 1.2% (Briefing.com consensus -0.1%) on the heels of a downwardly revised 0.5% decline (from 0.0%) for November.
Pending home sales for December ticked higher 0.1% (Briefing.com consensus +0.8%). The November reading was revised to -1.1% from -0.9%.

12:30 pm:

[BRIEFING.COM] The major averages have ticked higher in recent trade with the Nasdaq (+0.8%) continuing to outpace the S&P 500 (+0.5%) .

At this juncture, energy (+2.8%) remains the best performing group where it is followed by technology (+1.5%). The remaining positive sectors trades between utilities (+1.3%) and financials (+0.3%).

In the consumer discretionary space (+0.8%), large-cap constituent Amazon (AMZN 618.14, +34.59) outperforms ahead of the company's Q4 earnings results after today's close. The company has also benefited from recent reports regarding a new music streaming service. Amazon has gained 6.0%. Elsewhere in the space, Under Armour (UA 81.20, +12.65) has climbed 18.3% after reporting a Q4 earnings beat and guiding full year 2016 growth in line with expectations from September.

12:00 pm:

[BRIEFING.COM] The stock market has drifted lower in recent trade with only the tech-heavy Nasdaq (+0.2%) remaining in positive territory. Meanwhile, the S&P 500 (UNCH) leads the Dow Jones Industrial Average (-0.2%).

On top of the leaderboard, energy (+2.0%) has trimmed its advance as WTI crude surrenders the $33.00/bbl price level. The heavily-weighted technology sector (+0.8%) narrowly outpaces telecom services (+0.8%) for the second spot.

In the tech space, Facebook (FB 107.27, +12.82) continues to lead after the company reported a Q4 earnings and revenue beat. Meanwhile, the high-beta chipmaker have shown relative weakness, evidenced by the 0.6% decline in the PHLX Semiconductor Index. The group has been hurt by component Qualcomm (QCOM 44.32, -3.23) which has slid 6.8% after issuing below consensus guidance. Fellow component Texas Instruments (TXN 50.53, +0.24) outperforms in the group after reporting an Q4 EPS beat after yesterday's close.

11:25 am:

[BRIEFING.COM] The major indices all drift above their flat lines with the tech-heavy Nasdaq (+0.9%) leading the S&P 500 (+0.5%) and the Dow Jones Industrial Average (+0.3%).

Health care (-1.2%) continues to sport the largest loss of the day with only telecom services (-0.3%) joining it in negative territory at this juncture.

In the health care space, biotechnology continues to show relative weakness with the iShares Nasdaq Biotechnology ETF (IBB 267.59, -5.81) sliding 2.1%. The ETF and sub-group are reeling from an earnings miss by Celgene (CELG 97.45, -4.86). The company has slid more than 4.9% after missing bottom line estimates and issuing Q1 guidance below analyst expectations. Elsewhere, in the broader health care space large-cap Eli Lilly (LLY 79.26, -2.50) has underperformed with a 3.1% loss.

11:00 am:

[BRIEFING.COM] The major averages briefly surrendered all of their opening gains but have since recovered to trade near their flat line. The tech-heavy Nasdaq (+0.3%) outpaces the S&P 500 (UNCH).

The downturn in the broader market has come on the heels of recent conflicting reports regarding speculative oil supply cuts between OPEC and non-OPEC states. Oil has slid below the $33.00/bbl price level but WTI crude remains higher by 1.9% at $32.91/bbl.

Energy (+1.4%) remains the top performing sector as independent oil and gas companies such as ConocoPhillips (COP 37.55, +1.42) sport solid gains. Meanwhile, Dow components Chevron (CVX 84.20, +0.98) and Exxon Mobil (XOM 75.81, +0.51) have gained 1.1% and 0.6%, respectively.

Treasuries have ticked higher with the recent downturn in equities. The yield on the benchmark note now sits unchanged at 2.00%.

10:35 am: [BRIEFING.COM]

Oil prices surged this morning after news that Russia's Energy Minister suggested that OPEC and non-OPEC countries could meet next month to discuss supply
There have been stories actually noting positive comments of OPEC and non-OPEC nations getting together for a possibly agreement, while at the same time there are stories that say an agreement to reduce production is a slim chance
For now, let's just keep up with the daily headlines/stories regarding talk between OPEC and non-OPEC members and adapt to the trading environment as much as possible
Following a big rally in WTI oil futures to near $35/barrel, prices have pulled back
Mar crude is now
In other energy, Mar natural gas is -1% at $2.04/MMBtu following the weekly storage data, which showed a draw of 211 bcf.
Gold sold off this morning and is now back near the unchanged line at $1115/oz. Mar silver is down sharper, showing a currently loss of 1.5% at $14.25/oz
Copper is -1% at $2.04/lb

10:00 am:

[BRIEFING.COM] The S&P 500 trades higher by 0.7% with eight of ten sectors in positive territory.

Just reported, pending home sales for December ticked higher 0.1% while the Briefing.com consensus expected an increase of 0.8%. Meanwhile the November reading was revised to -1.1% from -0.9%.

9:50 am:

[BRIEFING.COM] The stock market opened its day sharply higher while the tech-heavy Nasdaq (+1.0%) leads the S&P 500 (+0.9%) and the Dow Jones Industrial Average (+0.7%).

Energy (+3.6%) has outperformed in the early going as WTI crude rallied 4.7% this morning on increased speculation regarding supply cut discussions. The heavily-weighted technology space (+1.4%) follows the commodity sensitive space while consumer discretionary (+0.8%) rounds out the top three spots. Meanwhile, health care (-0.5%) is the only sector in negative territory as biotechnology continues to show weakness. The iShares Nasdaq Biotechnology ETF (IBB 269.51, -3.89) has slid 1.5% to begin its day.

Treasuries trade off their lows but the yield on the benchmark note remains higher by two basis points at 2.02%.

9:20 am: [BRIEFING.COM] S&P futures vs fair value: +18.00. Nasdaq futures vs fair value: +61.30.

The stock market is on track for a higher open with S&P 500 futures trading 18 points above fair value.

Index futures have benefited from some early strength in earnings but equity futures retreated from these levels momentarily due to some weaker than expected data. Durable goods orders declined 5.1% in December (Briefing.com consensus -0.5%) while durable goods orders excluding transportation decreased 1.2% (Briefing.com consensus -0.1%). Index futures have since rebounded to trade at their pre-market highs. An uptick in crude oil has helped this effort, as speculation continues that OPEC and non-OPEC states might be getting close to agreeing to production cuts. WTI crude has climbed 5.0% at $33.89/bbl.

On the corporate front, Facebook (FB 107.78, +13.33) has climbed 14.1% after reporting a beat on EPS and revenue. The company also reported that in Q4, the average price per ad increased 21%. Meanwhile, Amazon.com (AMZN 604.90, +21.55) has gained 3.7% in pre-market trading after the New York Post reported that the company is in the early stages of planning a subscription based music service. This upswing also comes ahead of the company's earnings report after today's close.

Treasuries have bounced off their highs and now trade on their lows. The yield on the benchmark note is higher by one basis point to 2.01%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +40.50.

The S&P 500 futures trade 5 points above fair value .

Markets in the Asia-Pacific region ended the Thursday session on a mixed note with China's Shanghai Composite (-2.9%) and Japan's Nikkei (-0.7%) settling in the red. The price action was not driven by any particular set of headlines, but it is worth noting that the People's Bank of China signaled plans to conduct additional open market operations ahead of the Lunar New Year. In other central bank news, the Reserve Bank of New Zealand left its key interest rate unchanged at 2.5%, as expected. Elsewhere, Japan's Economy Minister Akira Amari has resigned after being tangled up in a bribery scandal. The country's government has announced Nobuteru Ishihara will take Mr. Amari's place.

In economic data:
Japan's December Retail Sales -1.1% year-over-year (consensus -0.1%; previous -1.0%)
Singapore's Q4 Unemployment Rate ticked down to 1.9% from 2.0% (expected 2.1%)
Australia's Q4 Import Price Index -0.3% quarter-over-quarter (expected -0.8%; previous 1.4%) and Export Price Index -5.4% quarter-over-quarter (consensus -3.8%; last 0.0%)
New Zealand's December trade deficit narrowed to NZD3.55 billion from NZD3.70 billion (expected deficit of NZD3.59 billion)

---Equity Markets---

Japan's Nikkei lost 0.7% with all but two sectors ending in the red. Materials (-2.1%), technology (-1.9%), and financials (-1.6%) paced the retreat while communications (+0.3%) and consumer staples (+0.9%) outperformed. Alps Electric tumbled 17.4% on fears about slowing demand for cell phone components while Nisshin Steel, TDK, Minebea, Sony, Pioneer, and Casio lost between 4.2% and 7.4%. On the upside, Advantest, Sharp, Konami, Japan Tobacco, and Tokyo Electron posted gains between 2.2% and 13.4%.
Hong Kong's Hang Seng climbed 0.8%, ending near Wednesday's high. Gaming and energy names ended in the lead with Sands China, Galaxy Entertainment, CNOOC, and China Petroleum & Chemical rising between 1.7% and 6.5%. Sino Land was the weakest performer, falling 1.8%.
China's Shanghai Composite dropped 2.9%. Agricultural Bank of China and Bank of China both lost near 1.5% while China Shipbuilding Industry fell the limit, 10.0%.

Major European indices trade lower across the board with Italy's MIB (-2.9%) well behind other regional indices as the focus on the country's troubled banking sector intensifies. Other regional indices have followed the MIB, but they show slimmer losses at this juncture.

In economic data:
Eurozone January Business and Consumer Survey fell to 105.0 from 106.7 (expected 106.4), January Services Sentiment slipped to 12.0 from 13.0 (consensus 13.0), and Industrial Sentiment ticked down to -3.0 from -2.0 (expected -2.0)
Germany's December Import Price Index -1.2% month-over-month, as expected (previous -0.2%); -3.1% year-over-year (consensus -3.2%; last -3.5%)
UK's preliminary Q4 GDP +0.5% quarter-over-quarter, as expected; +1.9% year-over-year, as expected. Separately, January CBI Distributive Trades Survey fell to 16 from 19 (consensus 18)
Spain's December Retail Sales +2.2% year-over-year (consensus 3.0%; last 3.3%) and Q4 Unemployment Rate fell to 20.9% from 21.2% (consensus 21.1%)
Italy's December Wage Inflation 0.0% month-over-month (last 0.2%); +1.3% year-over-year (last 1.3%)

---Equity Markets---

UK's FTSE trades down 0.6% with most components in the red. Ashtead Group has tumbled 6.5% after U.S.-based peer United Rentals reported disappointing results. Elsewhere, Aberdeen Asset Management, Hikma Pharmaceuticals, and Shire are down between 1.7% and 2.8%. On the upside, energy-related names outperform with Royal Dutch Shell, BG Group, and BP up between 0.1% and 0.9%.
France's CAC has given up 1.2% with financials leading the slide. BNP Paribas, Credit Agricole, and Societe Generale hold losses between 3.3% and 4.0% while ArcelorMittal outperforms, trading higher by 4.0%.
Germany's DAX is lower by 1.6% with all but one component in the red. Deutsche Bank has surrendered 4.3% after reporting disappointing results while exporters BMW, Daimler, and Volkswagen show losses between 1.6% and 2.2%.
Italy's MIB has tumbled 2.9% with BMPS, Banca di Milano Scarl, Unicredit, and UBI Banca down between 5.4% and 9.7%. Other financials also trade among the laggards while Saipem outperforms, adding 2.4%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +26.30.

The S&P 500 futures trade 1 point above fair value.

The latest weekly initial jobless claims count totaled 278,000 while the Briefing.com consensus expected a reading of 285,000. Today's tally was below the revised prior week's count of 294,000 from 293,000. As for continuing claims, they rose to 2.268 million from the prior week's revised count of 2.219 from 2.208 million (Briefing.com consensus 2.230 million).

Separately, December durable goods orders declined 5.1% while the Briefing.com consensus expected a decrease of 0.5%. This comes after the prior month's revised reading of of -0.5% from +0.0%. Excluding transportation, durable orders decreased 1.2% (Briefing.com consensus -0.1%) to follow the prior month'srevised reading -0.5 (from +0.0%).

7:59 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +40.50.

U.S. equity futures hold modest pre-market gains after positive earnings results and an uptick in oil helped lift futures from their lows. The S&P 500 futures hover two points above fair value. Interesting to note, Nasdaq futures have outperformed this morning as component Facebook (FB 107.11, +12.66) outperforms.

Meanwhile, Treasuries sit near their pre-market highs with the 10-yr yield now unchanged at 2.00%.

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

In U.S. corporate news of note:

Facebook (FB 107.11, +12.66): +15.0% after reporting a beat on Q4 earnings and revenue
Alibaba Group (BABA 72.80, +3.26):+4.7% following the company's report of a Q3 earnings beat on EPS and revenue
Qualcomm (QCOM 46.41, -1.12): -2.4% after the company issued below consensus Q2 guidance with EPS estimates of $0.90-1.00
Catepillar (CAT 61.00, +2.68):+4.6% following an Q4 earnings beat on light revenue with above consensus EPS guidance for FY16
Ebay (EBAY 22.80, -3.62): -13.7% after the company issued below consensus guidance for FY16 EPS and revenue

Reviewing overnight developments:

Asian markets ended their session on a mixed note with China's Shanghai Composite -2.9%, Japan's Nikkei -0.7%, and Hong Kong's Hang Seng +0.8%.
In economic data:
Japan's December Retail Sales -1.1% year-over-year (consensus -0.1%; previous -1.0%)
Singapore's Q4 Unemployment Rate ticked down to 1.9% from 2.0% (expected 2.1%)
Australia's Q4 Import Price Index -0.3% quarter-over-quarter (expected -0.8%; previous 1.4%) and Export Price Index -5.4% quarter-over-quarter (consensus -3.8%; last 0.0%)
New Zealand's December trade deficit narrowed to NZD3.55 billion from NZD3.70 billion (expected deficit of NZD3.59 billion)
In news:
The People's Bank of China signaled plans to conduct additional open market operations ahead of the Lunar New Year.
Japan's Economy Minister Akira Amari resigned after being tangled up in a bribery scandal. The country's government has announced Nobuteru Ishihara will succeed him.

Major European indices trades lower with Germany's DAX -1.5%, France's CAC -1.0%, and the U.K.'s FTSE -0.7%. Elsewhere, Italy's MIB has tumbled 3.0% while Spain's IBEX slid 1.2%.
In economic data:
Eurozone January Business and Consumer Survey fell to 105.0 from 106.7 (expected 106.4), January Services Sentiment slipped to 12.0 from 13.0 (consensus 13.0), and Industrial Sentiment ticked down to -3.0 from -2.0 (expected -2.0)
Germany's December Import Price Index -1.2% month-over-month, as expected (previous -0.2%); -3.1% year-over-year (consensus -3.2%; last -3.5%)
UK's preliminary Q4 GDP +0.5% quarter-over-quarter, as expected; +1.9% year-over-year, as expected. Separately, January CBI Distributive Trades Survey fell to 16 from 19 (consensus 18)
Spain's December Retail Sales +2.2% year-over-year (consensus 3.0%; last 3.3%) and Q4 Unemployment Rate fell to 20.9% from 21.2% (consensus 21.1%)
Italy's December Wage Inflation 0.0% month-over-month (last 0.2%); +1.3% year-over-year (last 1.3%)

6:13 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +39.40.

6:13 am: [BRIEFING.COM] Nikkei...17041.45...-122.50...-0.70%. Hang Seng...19195.8...+143.40...+0.80%.

6:13 am: [BRIEFING.COM] FTSE...5965.12...-25.30...-0.40%. DAX...9814.91...-65.90...-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


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

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


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

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