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 Post subject: February 2nd Tuesday Trade Results - Profit $1250.00
PostPosted: Wed Feb 03, 2016 5:21 am 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3048
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)

Attachment:
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020216-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1250.00.png [ 93.74 KiB | Viewed 41 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 @ $1250.00 dollars or +25.00 points, Light Crude Oil CL ($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 @ $1250.00 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=153&t=2281

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=285&t=3049 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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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


4:20 pm: [BRIEFING.COM] The stock market ended its Tuesday affair under heavy selling pressure as the major indices followed oil's rout to close near their session lows. The tech-heavy Nasdaq (-2.2%) ended behind both the S&P 500 (-1.9%) and the Dow Jones Industrial Average (-1.8%).

Today's selloff was underpinned by:

Substantial losses in biotechnology
Weakness from market cornerstones Apple (AAPL 94.48, -1.95) and Exxon Mobil (XOM 74.59, -1.70)
The market's inability to capitalize on positive earnings from Alphabet (GOOG 764.65, +12.65); and
Hawkish remarks from Kansas City Fed President and FOMC voting member Esther George

Ahead of today's session, oil sold off in the wake of yesterday's disappointing manufacturing data, diminishing speculation for production cuts between OPEC and non-OPEC states, and Iran announcing that it will be increasing its crude exports to 2.3 million barrels a day in its next fiscal year. Oil was able to close its day off its low but ended beneath the $30.00/bbl price level. WTI crude closed its pits session lower by 5.3% at $29.95/bbl.

The energy sector (-3.3%) rounded out the leaderboard while financials (-2.6%) and industrials (-2.0%) followed. On the flipside, utilities (+0.4%) and materials (-0.7%) outperformed.

In the heavily-weighted technology space (-2.0%), Alphabet was unable to lift the broader sector or the market despite its earnings beat. However, the company surpassed Apple in terms of market capitalization in the S&P 500. The high-beta chipmakers showed relative weakness today, as the PHLX Semiconductor Index declined 3.4%. The group saw headwinds from a Goldman Sachs research note, which cut smartphone growth estimates for 2016 and 2017. This note was consistent with Qualcomm's (QCOM 43.15, -2.96) Q1 guidance, which forecast a 16.0% to 25.0% drop in chipset sales year-over-year.

Large-cap Exxon Mobil fell 2.2% after reporting that revenue declined 31.5% year-over-year in its Q4 earnings report. This set the tone for the beleaguered energy sector as fellow energy giant Chevron (CVX 81.24, -4.05) tumbled 4.8%. Including today's performance, the group has fallen 8.0% in 2016.

Biotechnology continued to anchor the health care space (-1.5%), evidenced by the 2.8% decline in the iShares Nasdaq Biotechnology ETF (IBB 261.01, -7.52). Component Gilead (GILD 82.70, -1.34) narrowly underperformed the group ahead of the company's earnings results after today's close.

Money center banks faced continued headwinds from the broader market's potential inability to support a rate hike. Bank of America (BAC 13.23, -0.73) and JPMorgan Chase (JPM 57.03, -1.83) declined 5.2% and 4.9%, respectively. On a related note, the yield on the benchmark note is down more than 40 basis points (from 2.29%) since the Fed's rate hike decision on December 16th. Treasuries ended today on their highs as selling pressure in equities continued throughout the second half of the session. The yield on the 10-yr note ended nine basis points lower at 1.86%.

Despite the defensive positioning in the bond market, Kansas City Fed President and FOMC voting member Esther George stated that "economic growth, steady job gains and modestly higher core rates of inflation will warrant further [rate] increases" during her speech.

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

Investors did not receive any economic data today, but auto and truck sales were reported throughout today's session.

Tomorrow's economic data includes the weekly MBA Mortgage Index and the ADP Employment Change for January (Briefing.com consensus 190k) being released at 7:00 ET and 8:15 ET, respectively. Meanwhile, January's ISM Services Index (Briefing.com consensus 55.0) will cross the wires at 10:00 ET.

Russell 2000 -11.2% YTD
Nasdaq -9.8% YTD
Dow Jones -7.3%
S&P 500 -6.9%

3:40 pm: [BRIEFING.COM]

Energy futures traded notably lower today with oil and gas extending sharp losses from yesterday (each fell over 6%)
Today, oil and natural gas each fell over 7%
Oil has been reversing this week as the chances of a global oil production cut appears to be diminishing, while nat gas is selling off mostly on improved weather forecasts
Mar crude oil today close floor trading -7.3% at $29.95/barrel and Mar NG lost 7.3% to end at $2.02/MMBtu
However, in the metals space, Apr gold ended the day unchanged at $1127.30/oz as the weak dollar helped areas outside of energy.
Mar silver only lost four cents to $14.30/oz and Mar copper ended flat at $2.06/lb.

3:10 pm:

[BRIEFING.COM] As the stock market enters its final hour of trading, the major averages have notched up off their session lows with the tech-heavy Nasdaq (-2.1%) underperforming the S&P 500 (-1.8%) and the Dow Jones Industrial Average (-1.7%).

The utilities sector (+0.5%) has extended its gain while materials (-0.9%) follows. On the flipside, energy (-3.1%) has trimmed its loss but continues to show the worst loss of the session.

The Dow Jones Transportation Average (-2.8%) underperforms the broader market as the major airlines show relative weakness. United Continental Holdings (UAL 46.33, -2.53) and American Airlines (AAL 37.29, 2.09) have surrendered 5.2% and 5.3%, respectively. Meanwhile, fellow component UPS (UPS 94.40, +0.32) outperforms after the company posted a beat in fourth quarter EPS on light revenue.

Treasuries have inched higher with the yield on the 10-yr lower by eight basis points at 1.86%.

2:30 pm:

[BRIEFING.COM] The stock market trades at a new session low as the S&P 500 (-1.9%) keeps pace with the Dow Jones Industrial Average (-2.0%).

The leaderboard remains little changed with most sectors posting losses between health care (-1.6%) and consumer discretionary (-2.0%). In front of the pack, utilities (+0.2) flirts with its flat line while materials (-0.9%) follows.

The consumer discretionary space, underperforms as large-cap component Amazon (AMZN 551.42, +23.39) continues to weigh on the group after their earnings miss last Thursday. The company has declined 4.1% today and 13.2% since it reported earnings. Chipotle Mexican Grill (CMG 477.95, +5.31) is trading higher before the release of its earnings after today's close. Meanwhile, Ford (F 11.49, -0.57) has slipped 4.8% after the company reported that January sales fell 2.6% year-over-year.

In commodities, WTI crude ended its pit session down 5.3% to $29.95/bbl. This is ahead of the API Weekly Oil Report at 16:00 ET and tomorrow's weekly EIA Report at 10:30 ET.

1:55 pm:

[BRIEFING.COM] The major averages hover above their session lows with the tech-heavy Nasdaq (-2.1%) now underperforming the S&P 500 (-1.9%).

Energy (-3.0%) is declining further as WTI crude re-approaches the $30.00/bbl level. The commodity sensitive sector is followed by financials (-2.6%), and industrials (-2.2%).

In the health care space (-1.5%), biotechnology anchors the sector, evidenced by the 3.1% decline in the iShares Nasdaq Biotechnology ETF (IBB 260.00, -8.53). The sub-group is being led lower by Celgene (CELG 96.72, -4.06) which has declined 1.0%. Elsewhere in the sub-group, Gilead (GILD 82.64, -1.30) narrowly underperforms ahead of the company's earning results after today's close. In the broader health care sector, Pfizer (PFE 29.35, -0.76) outperforms after posting Q4 EPS and revenue above analyst expectations.

Meanwhile, Treasuries have ticked back to their session high with the yield on the 10-yr note now lower by eight basis points to 1.87%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to drag in negative territory near today's session lows.

A look inside the Dow Jones Industrial Average shows that Goldman Sachs (GS 152.54, -7.11), Chevron (CVX 82.45, -2.84), and Intel (INTC 29.81, -1.01) are underperforming. Goldman is leading the Dow lower as financials underperform. Chevron is also selling off in tandem with its sector, as energy drops 2.7% with crude oil off 4.5% today.

Conversely, DuPont (DD 55.75, +2.45) is the best-performing, and lone Dow component in positive territory after pending merger partner Dow Chemical (DOW 44.70, +2.12) reported strong Q4 results and reaffirmed its expectation to close the planned combination in the second half of this year.

With today's decline, the DJIA is down 1.7% to start February.

1:05 pm:

[BRIEFING.COM] The major averages show sharp losses at midday after beginning their day under heavy selling pressure. The stock market moved in tandem with oil prices in the early going, as a second day of sharp declines in crude jolted the pair back into sync. The Dow Jones Industrial Average (-1.6%) paces the S&P 500 (-1.6%) and the Nasdaq Composite (-1.6%).

Overnight, global equity markets and U.S. futures were driven lower as oil remained under pressure. Yesterday's disappointing manufacturing data from China and the U.S. continued to weigh on the commodity, as hopes for production cuts from OPEC and non-OPEC states dwindled. The largest contributing factor to the rapid decline though was Iran's announcement that it planned to increase crude exports to 2.3 million barrels a day in its next fiscal year, starting March 21. WTI crude trades lower by 4.1% to $30.32/bbl after being down as much as 4.7%.

Unsurprisingly, the energy sector (-2.8%) rounds out the leaderboard with financials (-2.4%) and industrials (-2.0%) following. On the flipside, utilities (-0.2%) and materials (-0.9%) outperform.

In the energy space, large-cap Exxon Mobil (XOM 74.22, -2.08) has fallen 2.7% after reporting that revenue declined 31.5% year-over-year in their Q4 earnings report. Meanwhile, fellow energy giant Chevron (CVX 82.49, -2.80) has plummeted 3.3%. Independent oil company Anadarko Petroleum (APC 39.14, +0.89) outperforms after announcing that they are anticipating an initial 2016 budget of approximately $2.6 billion, which would be nearly half of their 2015 budget.

Money center banks continue to underperform in the heavyweight financial sector with Bank of America (BAC 13.30, -0.66), Citigroup (C 40.68, -1.79), and JPMorgan Chase (JPM 57.08, -1.78) declining between 3.0% and 4.3%. Headwinds have manifested around the market's potential inability to support a rate hike. On a related note, the yield on the benchmark note has declined more than 40 basis points since the Fed's rate hike decision on December 16th.

In the heavily-weighted technology space, Alphabet (GOOG 776.60 +24.60) has surpassed Apple (AAPL 95.35, -1.05) in terms of market capitalization in the S&P 500. This follows Alphabet climbing 3.3% after reporting a fourth quarter earnings beat. Meanwhile, Apple has declined 1.1% after Goldman Sachs cut smart phone growth estimates from 13.0% in 2016 and 12.0% in 2017 to 6.0% and 7.0%, respectively. This has affected the high-beta chipmakers as well, evidenced by the 2.8% decline in the PHLX Semiconductor Index.

Elsewhere, materials heavyweight Dow Chemical (DOW 44.68, +2.10) has gained 4.9% after beating analyst expectations for their fourth quarter earnings report. Meanwhile, Syngenta (SYT 77.60, +3.62) has climbed 4.9% after Bloomberg reported that ChemChina is near a deal to acquire the company for $43 billion.

Treasuries have inched lower as the market moves off its low but the yield on the 10-yr remains lower by seven basis points at 1.88%.

Investors did not receive any economic data today, but auto and truck sales are being reported throughout today's session. Elsewhere, Kansas City Fed President and FOMC voting member Esther George will be speaking at 13:00 ET about the economy.

12:25 pm:

[BRIEFING.COM] The major averages have just ticked off fresh session lows with the the S&P 500 (-1.6%) now pacing the Dow Jones Industrial average (-1.6%).

At this juncture, four sectors underperform the broader market with energy (-2.5%), financials (-2.3%), industrials (-2.0%), and consumer discretionary (-1.7%) behind.

In the heavyweight financial sector, money center banks continue to underperform as lack of market stability continues to cast doubt on whether the broader market could support a rate hike. Large-cap money center banks Bank of America (BAC 13.30, -0.66), Citigroup (C 40.68, -1.79), and JPMorgan Chase (JPM 57.08, -1.78) have declined 4.7%, 4.3%, and 3.0%, respectively. On a side note, since the Fed's rate hike decision on December 16th, the yield on the benchmark note has declined 42 basis points.

Treasuries continue to inch higher today as the yield on the 10-yr note falls seven basis points to 1.87%.

12:00 pm:

[BRIEFING.COM] The stock market hovers below its recent level as the tech-heavy Nasdaq (-1.2%) continues to narrowly outperform the S&P 500 (-1.4%).

The materials sector (-0.7%) has ticked higher in recent trade as it now jockeys with technology (-0.7%) behind utilities (-0.3%).

The relative strength of the materials sector is owed largely to heavyweight Dow Chemical (DOW 44.44, +1.86) which gained 4.4% after handily beating analyst expectations for their fourth quarter earnings report. Elsewhere in the space, Dow merger partner DuPont (DD 55.32, +2.02) has rallied 4.0%. Meanwhile, Syngenta (SYT 77.30, +3.32) has climbed 4.5% after Bloomberg reported that ChemChina is near a deal to acquire the company for $43 billion.

Treasuries remain near their highs with the yield on the 10-yr note now lower by seven basis points at 1.88%.

11:30 am:

[BRIEFING.COM] The major averages have ticked slightly higher in recent trade with the Dow Jones Industrial Average (-1.3%) trading behind both the S&P 500 (-1.2%) and the Nasdaq (-1.1%).

The commodity-sensitive energy sector (-2.3%) has been able to climb off its low due to positive move in oil. WTI crude has managed to trim its loss to 3.5% at $30.53/bbl. Interesting to note, crude advanced 26.6% between January 20th and 29th, so the approximate 8.0% loss over the last two days could be seen as a retracement of that leg up.

Energy large-cap Exxon Mobil (XOM 73.81, -2.47) has fallen 3.3% after reporting fourth quarter earnings, which showed a 31.5% year-over-year decline in revenue. Fellow energy giant Chevron (CVX 82.57, -2.72) has declined 3.2% in sympathy. Meanwhile, Anadarko Petroleum (APC 39.67, +1.43) outperforms after announcing in their conference call that they are anticipating a recommendation of an initial 2016 budget of approximately $2.6 billion, which would be nearly 50.0% of their 2015 budget.

10:55 am:

[BRIEFING.COM] The major indices hover above session lows with the S&P 500 (-1.4%) trailing the tech-heavy Nasdaq (-1.1%).

Energy (-2.9%) and financials (-2.3%) have extended their losses while they remain behind the other sectors. Meanwhile, technology (-0.8%) has outpaced the other sectors to follow utilities (-0.4%) as the top performing groups.

In the heavily-weighted technology space, Alphabet (GOOG 786.84, +34.82) has surpassed Apple (AAPL 95.37, -1.06) as the company with the largest market capitalization in the S&P 500. This follows Alphabet climbing 4.6% after reporting a fourth quarter earnings beat after yesterday's close.

The high-beta chipmakers have shown relative weakness today, evidenced by the 2.0% decline in the PHLX Semiconductor Index. The group is facing headwinds from Goldman Sachs cutting smart phone growth estimates. This further underscores Qualcomm's (QCOM 44.09, -2.02) Q1 guidance which forecasts a 16.0% to 25.0% drop in chipset sales from the year earlier.

10:50 am: [BRIEFING.COM]

Energy futures start the day down sharply, extending yesterday's losses
Mar natural gas is currently 6.6% lower at $2.01/MMBtu as it appears that trader's priced in a Midwest blizzard that really did not materialize as expected
WTI crude oil continues to get hit with bearish catalysts such as Iran production/export potential, weak China economic data and overall production from large producers such as OPEC
Mar crude oil is now -4% at $30.35/barrel, just above today's LoD
The dollar index is trading modestly lower, which is giving a little help to precious metals this morning
However, Apr gold is showing only a 50 cent gain, currently at $1128.50/oz, while Mar silver is up two cents at $14.37/oz
Mar copper is down 0.3% at $2.05/lb

9:55 am:

[BRIEFING.COM] The stock market hovers near a new session low as the S&P 500 (-1.5%) underperforms the tech-heavy Nasdaq (-1.3%).

Countercyclical utilities (-0.7%), consumer staples (-1.1%), health care (-1.1%), and telecom services (-1.1%) show the slimmest declines of the day.

In the health care space, biotechnology continues to show relative weakness, evidenced by the 1.7% decline in the iShares Nasdaq Biotechnology ETF (IBB 263.95, -4.58).

On the commodity front, WTI crude briefly reclaimed the $31.00/bbl mark before ceding it once again. Oil currently trades lower by 5.5% at $29.90/bbl.

Treasuries have inched forward again with the yield on the 10-yr note now lower by eight basis points to 1.87%.

9:45 am:

[BRIEFING.COM] As expected, the stock market opened on a sharply lower note with the Dow Jones Industrial Average (-1.4%) outpacing the retreat while the S&P 500 (-1.3%) and the Nasdaq (-1.0%) follow.

All ten sectors have opened in negative territory with energy (-2.9%) and financials (-2.0%) showing the steepest declines. The remaining groups trade between telecom services (-1.7%) and utilities (-0.7%).

This morning's selloff has been fueled by a continued decline in oil with WTI crude surrendering the $30.00/bbl price level. The energy component currently trades lower by 5.2% to $29.98/bbl.

Treasuries trade on their highs with the yield on the 10-yr note lower by seven basis points at 1.88%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -20.50. Nasdaq futures vs fair value: -25.50.

The stock market is on track for a sharply lower open with S&P 500 futures trading 21 points below fair value.

Global equity markets and U.S. futures have matched the trajectory of oil this morning as the commodity surrendered the $31.00/bbl price level. WTI crude has continued its retreat as it now trades lower by 4.5% to $30.20/bbl.

In corporate news, Alphabet (GOOG 791.98, +39.98) has climbed 5.3% after the company reported a fourth quarter EPS and revenue beat after yesterday's close. The stock has also benefited from a string of upgrades as Deutsche Bank, SuntTrust, and Barclay's have all increased their price targets on the company. Alphabet is widely expected to surpass Apple (AAPL 95.45, -0.98) as the largest company in the S&P 500 based on market capitalization. On a side note, Apple is facing fresh headwinds on smartphone growth as Goldman Sachs cut its growth estimates to 6.0% in 2016 and 7.0% in 2017 from 13.0% and 12.0%, respectively.

Today's economic data is relatively light with only U.S. auto and truck sales data for January becoming available throughout today's session. Elsewhere, Kansas City Fed President George, who is an FOMC voter this year and one of the more hawkish committee members, will be speaking at 1:00 p.m. ET about the economy.

Treasuries have climbed to pre-market highs in recent action with the yield on the 10-yr note lower by five basis points to 1.90%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -20.00. Nasdaq futures vs fair value: -27.60.

The S&P 500 futures trade 20 points below fair value.

Equity markets across Asia ended the Tuesday session on a mostly lower note while China's Shanghai Composite outperformed, climbing 2.3%. There was no specific reason for the outperformance and the index likely enjoyed a relief rally after falling more than 20.0% since the start of 2016. On a somewhat related note, a researcher with the Chinese Academy of Social Sciences cautioned against a fall in property prices resulting from yuan depreciation. In central bank news, the Reserve Bank of Australia left its key interest rate unchanged at 2.0%, as expected. Similarly, the Reserve Bank of India also held pat, maintaining its main interest rate at 6.75%.

In economic data:
Japan's Monetary Base +28.9% year-over-year (consensus 28.3%; previous 29.5%)
Hong Kong's December Retail Sales -8.5% year-over-year (consensus -4.2%; previous -7.8%)
South Korea's January CPI 0.0% month-over-month (expected 0.2%; previous 0.3%); +0.8% year-over-year (consensus 0.9%; last 1.3%)
New Zealand's ANZ Commodity Price Index -2.3% month-over-month (last -1.8%)

---Equity Markets---

Japan's Nikkei lost 0.6% with most sectors ending in the red. Growth-sensitive materials (-3.8%), energy (-2.9%), and financials (-2.4%) paced the retreat while utilities (+3.2%) and health care (+3.1%) outperformed. Mitsui Chemicals, Nippon Steel, Hino Motors, Tokyo Tatemono, Kobe Steel, and Sonly lost between 5.1% and 8.4%. On the flip side, Eisai, Chubu Electric Power, TEPCO, and Kansai Electric Power gained between 3.3% and 7.2%.
Hong Kong's Hang Seng lost 0.8% amid weakness in more than half of its components. China Construction Bank, Henderson Land, China Resources Land, and China Overseas posted losses between 1.1% and 3.0% while Lenovo Group and Li & Fung outperformed. The two registered respective gains of 3.4% and 1.6%.
China's Shanghai Composite advanced 2.3% with Bank of China climbing 1.0% while China Shipbuilding and China State Construction rallied 3.1% and 2.2%, respectively. CITIC Securities advanced 2.6%.

Major European indices trade lower across the board amid broad-based weakness. Economic data has not been particularly helpful in lifting investor sentiment as UK's Construction PMI (55.0; expected 57.5) dropped to a nine-month low while Eurozone PPI fell 0.8% in December (expected -0.6%). On a separate note, European Council President Donald Tusk has sent a letter to British Prime Minister David Cameron, outlining UK's rights in managing the ongoing migrant crisis.

In economic data:
Eurozone December PPI -0.8% month-over-month (expected -0.6%; last -0.2%); -3.0% year-over-year (consensus -2.8%; last -3.2%). Separately, January Unemployment Rate ticked down to 10.4% from 10.5% (expected 10.5%)
Germany's January Unemployment Change -20,000 (expected -7,000; previous -16,000) and January Unemployment Rate ticked down to 6.2% from 6.3% (consensus 6.3%)
UK's January Construction PMI 55.0 (consensus 57.5; last 57.8)
Swiss December Retail Sales -1.6% year-over-year (consensus -1.3%; last -1.7%)
Spain's Unemployment Change 57,200 (expected 71,200; previous -55,800)
Italy's December Unemployment Rate held at an upwardly revised 11.4% (expected 11.2%)

---Equity Markets---

Germany's DAX has given up 1.4% with growth-sensitive names leading the slide. Thyssenkrupp, Lanxess, K+S, and BASF are down between 1.7% and 4.6%. Deutsche Bank and Commerzbank also lag, showing respective losses of 2.2% and 3.1%. On the upside, Deutsche Telekom has climbed 1.2%.
France's CAC is down 2.0% with all but two names in the red. ArcelorMittal, Valeo, Total, and Technip are down between 3.2% and 4.6% while financials BNP Paribas, Credit Agricole, and Societe Generale show losses between 2.4% and 4.2%. On the flip side, Orange has climbed 1.9%.
UK's FTSE has given up 2.0% amid broad weakness. Energy and mining names are under pressure with BP, Royal Dutch Shell, Anglo American, BHP Billiton, and Rio Tinto down between 5.6% and 8.7%. On the upside, a handful of consumer names outperform with Sainsbury, Associated British Foods, and InterContinental Hotels up between 0.3% and 1.2%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: -18.50. Nasdaq futures vs fair value: -24.20.

Equity futures remain in negative territory with the S&P 500 futures currently trading 19 points below fair value.

On the corporate front, Exxon Mobil (XOM 74.50, -1.79) has slid 2.4% in pre-market after posting a fourth quarter earnings beat on larger than expected revenue. Earnings per share were reported in at 67 cents whereas last year's same quarter EPS were $1.56. This morning's decline in WTI crude has created further headwinds as the energy component surrendered the $31.00/bbl price level overnight. Oil trades lower by 3.2% at $30.60/bbl. Elsewhere in earnings news, Dow Chemical (DOW 43.50, +0.92) has climbed 2.2% following the company reporting EPS above analyst expectations at $0.93 a share on higher than expected revenue.

Treasuries hover below their overnight highs with the yield on the 10-yr note lower by two basis points at 1.93%.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -12.20. Nasdaq futures vs fair value: -11.00.

U.S. equity futures trade broadly lower with the S&P 500 futures trading 12 points below fair value. Overnight, global equity markets and U.S. futures slid amid a fresh oil rout. Global growth concerns and supply glut issues weigh as speculation diminishes for a supply cut from OPEC and non-OPEC states.

Treasuries have ticked higher overnight as the equities added to their losses. The yield on the benchmark note is lower by two basis points at 1.93%.

On the economic front, data is light today with no top-tier data being released. However, U.S. Auto and Truck Sales for January will become available throughout today's session.

On the corporate front:

Alphabet (GOOG 792.10, +40.10): +5.3% after reporting Q4 EPS and revenue above analyst expectations
UPS (UPS 97.00, +2.92): +3.1% following a Q4 earnings beat on light revenue
Syngenta (SYT 78.83, +4.85): +6.6% after Bloomberg reported that ChemChina is near a deal to acquire the company for $43 billion
Pfizer (PFE 29.60, -0.57): -1.9% following the company reporting an earnings beat while guiding FY16 revenue below consensus
Dow Chemical (DOW 44.00, 1.42): +3.3% after reporting above consensus Q4 EPS and revenue
Mattel (MAT 28.50, +1.74): +6.5% following the company reporting a Q4 EPS and revenue beat
UBS AG (UBS 15.14, -1.38): -8.4% after the company missed analyst expectations on Q4 EPS

Reviewing overnight developments:

Asian markets ended their session on a mixed note with Hong's Kong's Hang Seng -0.8%, Japan's Nikkei -0.6%, and China's Shanghai +2.3%
In economic data:
Japan's Monetary Base +28.9% year-over-year (consensus 28.3%; previous 29.5%)
Hong Kong's December Retail Sales -8.5% year-over-year (consensus -4.2%; previous -7.8%)
South Korea's January CPI 0.0% month-over-month (expected 0.2%; previous 0.3%); +0.8% year-over-year (consensus 0.9%; last 1.3%)
New Zealand's ANZ Commodity Price Index -2.3% month-over-month (last -1.8%)
In news:
A researcher with the Chinese Academy of Social Sciences cautioned against a fall in property prices resulting from yuan depreciation.
The Reserve Bank of Australia left its key interest rate unchanged at 2.0%, while the Reserve Bank of India also held maintained its main interest rate at 6.75%.

European indices trade lower across the board with the U.K.'s FTSE -1.7%, France's CAC -1.6%, and Germany's DAX -1.0%.
In economic data:
Eurozone December PPI -0.8% month-over-month (expected -0.6%; last -0.2%); -3.0% year-over-year (consensus -2.8%; last -3.2%). Separately, January Unemployment Rate ticked down to 10.4% from 10.5% (expected 10.5%)
Germany's January Unemployment Change -20,000 (expected -7,000; previous -16,000) and January Unemployment Rate ticked down to 6.2% from 6.3% (consensus 6.3%)
UK's January Construction PMI 55.0 (consensus 57.5; last 57.8)
Swiss December Retail Sales -1.6% year-over-year (consensus -1.3%; last -1.7%)
Spain's Unemployment Change 57,200 (expected 71,200; previous -55,800)
Italy's December Unemployment Rate held at an upwardly revised 11.4% (expected 11.2%)
In news:
European Council President Donald Tusk has sent a letter to British Prime Minister David Cameron, outlining UK's rights in managing the ongoing migrant crisis.

5:56 am: [BRIEFING.COM] S&P futures vs fair value: -15.80. Nasdaq futures vs fair value: -24.30.

5:56 am: [BRIEFING.COM] Nikkei...17750.7...-114.60...-0.60%. Hang Seng...19446.8...-148.70...-0.80%.

5:56 am: [BRIEFING.COM] FTSE...5952.41...-107.70...-1.80%. DAX...9634.17...-123.70...-1.30%.

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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