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 Post subject: February 9th Tuesday Trade Results - Profit $13812.50
PostPosted: Wed Feb 10, 2016 4:28 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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020916-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+13812.50.png
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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 @ $13812.50 dollars or +276.25 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $13812.50 dollars

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

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=153&t=2286

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.

-----------------------------

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 a volatile Tuesday affair with a final hour rally that led the major averages to within striking distance of their flat lines. Today's action was hallmarked by a rebound in the short-term oversold market as global growth concerns, the recent rout in financials, and an oil supply glut remained in focus for much of today's session. The S&P 500 (-0.1%) and the Dow Jones Industrial Average (-0.1%) were able to end their day ahead of the Nasdaq Composite (-0.4%).

Other contributing factors to today's action included:

Uncertainty ahead of Congressional testimony from Fed Chair Janet Yellen on Wednesday and Thursday
Looking ahead to influential earnings from Disney (DIS 92.32, +0.20), Time Warner (TWX 63.21, -4.09), Cisco Systems (CSCO 22.65, -0.28), CBS (CBS 42.65, -1.71), and American International Group (AIG 52.25, -0.05) later this week; and
Awaiting retail sales data for January that will be released on Friday (Briefing.com consensus 0.2%)

Today's early weakness saw concerns tied to Japan's sharp losses, the yield on its government bond turning negative, and ongoing worries about the health of Europe's banking sector. On that note, the simmering sense of angst about the European banking sector's exposure to bad loans and negative interest rates continues to weigh especially heavy on Deutsche Bank (DB 15.38, -0.16), which has surrendered 36.3% since the beginning of 2016.

Oil was driven lower amidst the selling action overseas but rebounded into today's session. The rebound in oil helped lift the market from its opening lows, but a bearish report from the International Energy Agency sent oil lower. The report stated that supply glut concerns may be understated for the first half of 2016 and precedes the API Weekly Crude Inventory Report which will be released today at 16:35 ET. WTI crude tumbled 6.0% to $27.93/bbl.

The stock market struggled through the first half of the session, returning to its opening low around 13:15 ET. However, biotechnology began flashing some relative strength at the start and held its ground even as the market was revisiting its worst level of the day. The subsequent rebound saw the iShares Nasdaq Biotechnology ETF (IBB 248.40, +0.28) surge to a new high while the broader market followed suit. Neither the market nor the ETF could hold its ground, backing away from highs into the close.

Five sectors were able to end their day in positive territory with materials (+1.2%) and health care (+0.7%) showing the largest advance. The remaining advancers posted gains between 0.7% (health care) and 0.4% (utilities).

In the consumer discretionary space (-0.3%), media companies showed relative weakness after Viacom (VIAB 32.86, -8.99).announced a fifth straight quarter of missing sales estimates. The company's miss weighed on fellow media company Time Warner, which fell 5.1% ahead of its earnings release tomorrow morning. On a related note, Netflix (NFLX 86.13, +2.81) managed a 3.4% advance as headwinds for conventional cable and media companies served as a tailwind for the streaming company.

Independent oil and gas names saw the largest losses from the tumble in oil with EOG Resources (EOG 65.59 -2.84) and Anadarko Petroleum (APC 37.24, -2.81) surrendering 4.2% and 7.0%, respectively

In the heavyweight technology space, large-caps Facebook (FB 99.54, -0.21) and Alphabet (GOOGL 701.02, -3.14) were unable to end in positive territory. Meanwhile, Salesforce.com (CRM 57.33, +3.28) climbed 6.1% after Jefferies upgraded the stock to 'Hold' from 'Underperform'.

Today's participation was slightly above the recent average with 1.12 billion shares changing hands at the NYSE floor.

Treasuries ticked higher during the heaviest selling but backed away from these level as the stock market rallied in the final hour. The yield on the 10-yr note ended its day lower by two basis point at 1.73%.

Today's economic data included the Wholesale Inventories report for December and the December Job Openings and Labor Turnover Survey:

Wholesale inventories declined 0.1% month-over-month in December (Briefing.com consensus unchanged) on top of a downwardly revised 0.4% decline (from -0.3%) in November. On a year-over-year basis, wholesale inventories were up 1.9%.
Inventories of durable goods in December declined 0.3% after a 0.4% decline in November. The December downturn was governed by a 0.5% decline in machinery inventories and a 4.4% decline in metals inventories.
The only areas that saw inventories increase were automotive (+0.3%), electrical (+1.0%), and miscellaneous durables (+1.6%).
Inventories of nondurable goods increased 0.1% in December after declining 0.3% in November. The uptick was paced by a 0.8% increase in inventories for drugs and a 2.1% increase in apparel inventories. The only nondurable areas that saw inventories decline in December were petroleum (-7.8%) and alcohol (-1.0%).
Wholesale sales were down 0.3% in December after declining 1.3% in November. The inventory-to-sales ratio held steady at 1.32, yet that was up noticeably from 1.24 in the same period a year ago.
The December Job Openings and Labor Turnover Survey showed that job openings increased to 5.610 million from a revised 5.350 million (from 5.431 million) in November

Tomorrow's economic data will include the weekly MBA Mortgage Index and the Treasury Budget for January crossing the wires at 7:00 ET and 14:00 ET, respectively.

Russell 2000 -15.1% YTD
Nasdaq -14.8% YTD
S&P 500 -9.4% YTD
Dow Jones -8.1% YTD

3:45 pm: [BRIEFING.COM]

Commodities had a tough day despite the weakness seen in the dollar index
WTI oil sold off today, falling below $38/barrel momentarily
Mar crude ended today's session -6% at $27.93/barrel, led continued oversupply issues and uncertainty that OPEC will coordinate and cut global oil production
Mar nat gas lost steam as well, closing -2% at $2.10/MMBtu
Copper sold off notably, ending the day at today's low. Mar copper closed -3% at $2.03/lb
Apr gold fell 0.1 to $1197.80/oz today, while Mar silver lost 0.1% to end at $15.45/oz

2:55 pm:

[BRIEFING.COM] The major averages rallied passed the middle of their trading ranges in recent action with the tech-heavy Nasdaq (UNCH) pacing the S&P 500 (+0.1%).

Five sectors currently trade in positive territory with heavily-weight technology (+0.1%), financials (-0.1%), and consumer discretionary (-0.2%) each narrowing their loss in recent action.

In the heavyweight tech space, Salesforce.com (CRM 56.74, +2.69) has climbed 5.0% today following an upgrade at Jefferies to 'Hold' from 'Underperform'. Meanwhile, Cognizant Technology (CTSH 52.40, -1.65) continues to pull back after issuing below-consensus Q1 EPS guidance yesterday. The high-beta chipmakers have shown relative weakness thus far, evidenced by a 0.1% downtick in the PHLX Semiconductor Index. Qorvo (QRVO 35.61, -0.81) underperformed in the index.

Treasuries have remain little changed despite the rally in equities with the yield on the 10-yr note lower by two basis points at 1.72%.

2:30 pm:

[BRIEFING.COM] The stock market has slipped from the middle of its trading range in recent action. The tech-heavy Nasdaq (-0.7%) remains behind both the S&P 500 (-0.4%) and the Dow Jones Industrial Average (-0.4%).

Materials (+0.6%) has climbed up the leaderboard to outpace consumer staples (+0.4%) for the lead while health care (+0.3%) also extends its advance.

In the industrials space, Ingersoll-Rand (IR 50.12, +0.66) has climbed 1.4% after reporting above-consensus EPS Q4 results this morning. The company also provided in-line guidance for 2016 EPS. Masco (MAS 24.68, +1.22) has climbed 5.3% after reporting an EPS and revenue beat this morning.

Separately in the consumer staples space, CVS Health (CVS 90.68, +1.03) continues to outperform after reporting an in-line Q4 before today's open. Meanwhile, Walgreens Boot Alliance (75.07, +2.16) trades higher in sympathy.

On the commodities front, WTI crude was able to end its session off its lows with the energy component endings its day lower by 6.0% at $27.93/bbl.

2:00 pm:

[BRIEFING.COM] The major averages have slide to the lower end of their trading range but float above their session lows. The Nasdaq Composite (-0.9%) currently underperforms the S&P 500 (-0.6%).

At this juncture, five sectors trade in the red with energy (-3.6%) leading the downside. The remaining sectors post losses between 1.3% (telecom services) and 0.8% (consumer discretionary).

The Dow Jones Transportation Average (+0.3%) continues to show relative strength as the major airlines outperform. American Airlines (AAL 35.84, +0.29), United Continental Holdings (UAL 46.06, +0.38), and JetBlue Airways (JBLU 19.94, +0.60) have advanced between 0.7% and 3.0%. The group has benefited from the recent downturn in oil but also trades higher after low-cost carrier Spirit Airlines (SAVE 42.26, +1.88) reported a Q4 earnings and revenue beat this morning.

Treasuries trade off their highs but the yield on the 10-yr note remains lower by three basis points at 1.72%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have seen a slight uptick since our last update despite crude oil moving to fresh session lows.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 82.68, -3.31), Wal-Mart (WMT 65.21, -1.69), and IBM (IBM 123.92, -3.06) are underperforming amid broad market weakness. Chevron is leading the Dow lower as the energy sector again slumps lower with WTI crude oil futures now down 5.3% on the day.

Conversely, UnitedHealth Group (UNH 110.83, +0.81) is the best-performing Dow component as managed health care names outperform.

For the week, the DJIA is now down 1.7%, down 3.2% in February, and down 8.5% in 2016.

Elsewhere, the Treasury's $24 bln 3-year note auction at the top of the hours drew a high yield of 0.844% on a bid-to-cover of 2.74.

1:10 pm:

[BRIEFING.COM] The major averages sport moderate losses at midday after beginning their session on a weak note. Today's weakness can be seen as a continuation of yesterday's flight from risk assets to safe havens, but an early rebound from short-term oversold conditions has helped keep the indices off their worst levels. Meanwhile, choppy trade in oil continues to prey on the broader market. At this juncture, the tech-heavy Nasdaq (-0.8%) trades behind the S&P 500 (-0.6%) and the Dow Jones Industrial Average (-0.6%).

Overnight, Japan's Nikkei (-5.4%) sold off in flight from risk trade as the country's financial sector slid on concerns of the global banking rout. Underpinning this flight from risk was the bid in the Japanese 10-yr note, which saw its first negative yield (-0.01%). On the currencies front, the dollar has continued to lose ground to the yen as dollar strength unwinds. Europe endured another sell off in financials with Deutsche Bank (DB 14.91, -0.63) surrendering a further 4.6% amid larger concerns about the bank's convertible bonds. Further negative sentiment was fostered by UBS (UBS 14.08, -0.68) after the company announced that it would be freezing salaries in its investment bank division to improve profitability. These concerns combined to have futures trade more than 1.0% below fair value before the cash market opened.

Oil helped the broader market in the early going as the weakening dollar drove demand higher for the dollar denominated commodity. These benefits were short lived though, as a bearish report from the International Energy Agency weighed on the commodity. The report postures that the crude oil glut may be larger than expected in the first half of 2016. In response, WTI crude has tumbled 4.2% to $28.45/bbl.

Currently six sectors trade in negative territory with energy (-3.5%) leading the downside while most sectors show losses between 0.9% (financials) and 0.1% (health care). Meanwhile, materials (+0.6%) and utilities (+0.6%) outperform.

In the energy space, independent oil and gas names are seeing the brunt of the downturn in crude with ConocoPhillips (COP 33.00, -1.43) and Anadarko Petroleum (APC 37.32, -2.73) surrendering 4.3% and 6.9%, respectively. Meanwhile, energy giant Exxon Mobil (XOM 78.93, -1.50) outperforms with a decline of 1.9%.

In the consumer discretionary space (-0.9%), media companies have underperformed following a fifth straight quarter of sales misses by Viacom (VIAB 35.50, -6.35). The company has plummeted 15.2% as a result. Fellow media companies Time Warner (TWX 64.03, -3.27) and Disney (DIS 91.25, -0.87) underperform ahead of their earnings reports between today's close and tomorrow's open. Netflix (NFLX 85.66, +2.34) has managed to snap its recent losing streak as headwinds for conventional cable and media companies grow.

Real estate trusts have shown relative weakness in the financial sector (-0.8%) after HCP, Inc. (HCP 28.65, -5.34) issued lower guidance for 2016. The stock has fallen 15.7% in response. Money center banks have shown relative strength this session with Wells Fargo (WFC 46.20, -0.29) and Bank of America (BAC 12.20, -0.07) outperforming.

In the health care space, biotechnology underperforms, evidenced by the 0.7% decline in the iShares Nasdaq Biotechnology ETF (IBB 246.34, -1.78). The sub-group is being hurt by a poor outing from Regeneron Pharmaceuticals (REGN 367.31, -23.22), which reported below-consensus results this morning.

Treasuries have traded higher throughout the session with the yield on the 10-yr note currently lower by one basis points at 1.73%.

Today's economic data included the Wholesale Inventories report for December and the December Job Openings and Labor Turnover Survey.

Wholesale inventories declined 0.1% month-over-month in December (Briefing.com consensus unchanged) on top of a downwardly revised 0.4% decline (from -0.3%) in November. On a year-over-year basis, wholesale inventories were up 1.9%.
Inventories of durable goods in December declined 0.3% after a 0.4% decline in November. The December downturn was governed by a 0.5% decline in machinery inventories and a 4.4% decline in metals inventories.
The only areas that saw inventories increase were automotive (+0.3%), electrical (+1.0%), and miscellaneous durables (+1.6%).
Inventories of nondurable goods increased 0.1% in December after declining 0.3% in November. The uptick was paced by a 0.8% increase in inventories for drugs and a 2.1% increase in apparel inventories. The only nondurable areas that saw inventories decline in December were petroleum (-7.8%) and alcohol (-1.0%).
Wholesale sales were down 0.3% in December after declining 1.3% in November. The inventory-to-sales ratio held steady at 1.32, yet that was up noticeably from 1.24 in the same period a year ago.
The December Job Openings and Labor Turnover Survey showed that job openings increased to 5.610 million from a revised 5.350 million (from 5.431 million) in November

12:25 pm:

[BRIEFING.COM] The major averages float below the middle of their trading ranges with the Nasdaq Composite (-0.6%) pacing the S&P 500 (-0.5%).

Six sectors currently trade beneath their flat lines with health care (UNCH) and technology (-0.4%) recently returning to negative territory. Materials (+0.3%) and utilities (+0.3%) continue to show the largest gains of the day.

In the heavyweight health care space, biotechnology underperforms, evidenced by the 0.6% decline in the iShares Nasdaq Biotechnology ETF (IBB 246.66, -1.46). The sub-group is being hurt by a poor outing from Regeneron Pharmaceuticals (REGN 377.57, -12.95), which missed analyst expectations regarding EPS and revenue in its Q4 earnings report this morning. Meanwhile, Boston Scientific (BSX 16.75, +0.68) outperforms after the company confirmed that the Center for Medicare and Medicaid Services will cover its Watchman LAAC Device.

On the commodities front, WTI crude has slipped beneath the $29.00/bbl price level with the energy component now trading lower by 2.9% at $28.84/bbl.

11:55 am:

[BRIEFING.COM] The stock market has dipped back to the middle of its trading range as oil extends its decline. The Dow Jones Industrial Average (-0.3%) keeps pace with the S&P 500 (-0.3%).

Telecom services (-2.01%) and energy (-2.4%) lead the downside while financials (-0.9%) and consumer discretionary (-0.6%) show the slimmest losses.

In the financial sector, health care real estate trusts have shown relative weakness today after HCP, Inc. (HCP 28.84, -5.15) issued guidance for full year 2016 funds from operations that may not compare to analyst estimates. The company has fallen 15.2% in response. The-group trades lower in sympathy with Simon Property Group (SPG 177.11, -5.47) and Ventas (VTR 50.34, -3.37) declining 3.0% and 6.2%, respectively. Elsewhere, money center banks have been shown relative strength with Wells Fargo (WFC 46.45, -0.05) and Bank of America (BAC 12.25, -0.02) outperforming.

On the currencies front, the U.S. Dollar Index has fallen 0.8% today to 95.84 as the yen strengthens against the dollar. Currently, the pair trade at 114.96.

11:30 am:

[BRIEFING.COM] The major indices have rallied higher in recent action as they drift near their flat lines. The Nasdaq Composite (+0.1%) trades in-line with the S&P 500 (UNCH) and ahead of the Dow Jones Industrial Average (-0.1%).

Six sectors now trade in positive territory with most of these groups trading between industrials (+0.5%) and consumer staples (+0.3%).

In the commodity-sensitive energy space (-1.7%), independent oil and gas companies continue to see headwinds despite WTI crude climbing 0.1% to $29.73/bbl. The industry is like responding to bearish commentary from the IEA, which stated that the supply glut in the first half of 2016 might be larger than expected. As a result, ConocoPhillips (COP 33.41, -1.02) and Anadarko Petroleum (APC 38.41, -1.66) have surrendered 3.1% and 4.2%, respectively. Meanwhile, energy giant Exxon Mobil (XOM 80.03, -0.40) outperforms.

Treasuries trade narrowly ahead of their flat lines with the yield on the 10-yr note higher by one basis point at 1.74%.

11:00 am:

[BRIEFING.COM] The major averages have slipped from the middle of their trading ranges after a rebound effort stalls. The tech-heavy Nasdaq (-0.6%) paces the S&P 500 (-0.6%).

Two sectors currently remain in positive territory with materials (+0.5%) and utilities (+0.1%) leading. On the flipside, telecom services (-2.4%) and energy (-1.8%) show the largest losses.

In the heavily-weighted consumer discretionary space (-0.7%), Viacom (VIAB 36.26, -5.58) has surrendered 13.4% after failing to meet sales estimates for the fifth straight quarter. Fellow media company Time Warner (TWX 65.09, -2.21) has fallen 3.3% ahead of its earnings results tomorrow morning. Large-cap Disney (DIS 91.33, -0.80) underperforms ahead of the company's earnings results after today's close. Netflix (NFLX 85.86, +2.57) has managed to snap its recent losing streak as headwinds for conventional cable and media companies mount.

On the commodities front, WTI crude continues to trade near its flat line. Oil currently trades lower by 0.2% at $29.61/bbl.

10:40 am: [BRIEFING.COM]

The dollar index is lower this morning, however, this isn't adding much support to commodities prices this morning
Commodities, overall, as measured by the Bloomberg Commodity Index are trading -0.8%
March WTI crude oil, however, sold off in early trade, falling as low as $29.34/barrel
Mar crude is now +0.4% at $29.82/barrel
Mar natural gas are recovering off a new LoD, now -1% at $2.12/MMBtu
Copper sold off this morning and is currently down 2.7% at $2.03/lb
Precious metals have been modestly lower this morning with Apr gold -0.4% at $1193.20/oz and Mar silver -0.3% at $15.38/oz

10:05 am:

[BRIEFING.COM] The major averages have rallied in recent trade but have just dipped below these highs. The tech-heavy Nasdaq (+0.3%) lead the rally back to positive territory as the S&P 500 (-0.1%) outpaces the Dow Jones Industrial Average (-0.2%).

Just released, December wholesale inventories fell 0.1% while the Briefing.com consensus expected a flat reading. Today's report followed last month's revised decrease of 0.4% (from -0.3%).

Separately, the December Job Openings and Labor Turnover Survey showed that job openings increased to 5.610 million from a revised 5.350 million (from 5.431 million) in November.

9:45 am:

[BRIEFING.COM] As expected, the stock market has started its day on a lower note. Currently, the tech-heavy Nasdaq (-0.6%) outpaces the losses in the S&P 500 (-0.4%) and the Dow Jones Industrial Average (-0.4%).

Nine of ten sectors have opened their day day in negative territory with the commodity-sensitive energy sector (-1.4%) leading the retreat. Most remaining sectors post losses between industrials (-0.7%) and health care (-0.3%). The utilities sector (+0.3%) is the only group in positive territory.

On the commodities front, crude oil flirts with its flat line in recent action and has helped bring the market off its lows. At this juncture, WTI crude trades lower by 0.2% at $29.65/bbl.

Treasuries trade off their highs with the yield on the 10-yr note remaining lower by three basis points at 1.72%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -16.70. Nasdaq futures vs fair value: -45.20.

The stock market is on track for a lower open with the S&P 500 futures trading 17 points below fair value.

Global equity markets and U.S. futures have continued their rout as global banking concerns and a flight from risk weigh on markets. Overnight, a 5.4% decline in the Nikkei corresponded with the first ever negative yield in the Japanese 10-yr note (-0.01%). Meanwhile, European markets have been pressured by continued banking concerns as Deutsche Bank (DB 14.89, -0.65) continues its slide on what weakness in convertible bonds could be signaling. Finally, another leg lower in oil has pushed equity futures to their lowest point of the morning. At this juncture, WTI crude trades lower by 0.3% at $29.61/bbl.

In corporate news, Coca-Cola (KO 42.50, -0.15) has slipped 0.4% this morning as investors weigh falling revenue against an EPS beat. Elsewhere, CVS Health (CVS 87.60, -2.05) has declined 2.3% despite posting in-line results this morning with increased same store sales of 3.5%.

Treasuries have inched higher in recent action as the safe haven investments floats near their highs. The yield on the 10-yr note has fallen four basis points to 1.71%.

Today's economic data will be limited to the 10:00 ET release of the Wholesale Inventories report for December (Briefing.com consensus 0.0%) and the JOLTS Job Opening Report for December.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -18.50. Nasdaq futures vs fair value: -47.70.

The S&P 500 futures trade 19 points below fair value.

It was another rough night for markets in the Asia-Pacific region as aggressive selling pressure kept regional indices on the defensive throughout the night. Japan's Nikkei was the headline grabber, falling 5.4%. The index ended just above its January low while a safe haven bid drove the Japanese 10-yr yield down to -0.01%, representing the first ever negative yield in the security. The yen strengthened overnight, pressuring the dollar/yen pair to 114.30. The pair has ticked into the 114.40 area over the past hour.

Economic data was limited:
Japan's M2 Money Stock +3.2% year-over-year (consensus 3.1%; last 3.1%) and Machine Tools Orders -17.2% year-over-year (last -25.7%)
Australia's January NAB Business Confidence slipped to 2 from 3, as expected

---Equity Markets---

Japan's Nikkei fell 5.4% with all ten sectors ending deep in the red. The slide was paced by technology (-6.8%), financials (-6.6%), materials (-6.4%), and consumer discretionary (-5.7%) while the utilities sector ended ahead, but still lost 3.5%. SUMCO, Alps Electric, Shinsei Bank, Nomura Holdings, Mazda Motor, Suzuki Motor, Sumitomo Mitsui Financial, and Panasonic lost between 8.8% and 12.1%.
Hong Kong's Hang Seng was closed for Lunar New Year
China's Shanghai Composite was closed for Lunar New Year

Major European markets trade lower across the board as cautious sentiment lingers from the Asian session. Yesterday, Deutsche Bank released a statement defending its payment capacity, but that has not stopped the stock from retreating today amid persistent concerns about the bank's contingent convertible bonds. On a separate note, Greek-related fears may be returning to the forefront considering selling in the Greek 10-yr note has driven its yield past 10.50%, representing the highest level since August.

In economic data:
Germany's December trade surplus narrowed to EUR18.80 billion from EUR20.50 billion (expected surplus of EUR20.20 billion) as imports fell 1.6% month-over-month (expected -0.5%; last 1.3%) and exports declined 1.6% (consensus 0.5%; last 0.5%)
UK's December trade deficit narrowed to GBP9.92 billion from GBP11.50 billion (expected deficit of GBP10.40 billion)
France's December Government Budget deficit narrowed to EUR70.50 billion from EUR82.80 billion
Swiss January Unemployment Rate held at 3.4%, as expected

---Equity Markets---

UK's FTSE trades down 1.5% with more than half of its components in negative territory. Miners Antofagasta, Anglo American, BHP Billiton, and Glencore are down between 5.1% and 9.5%. Consumer names have shown strength with Tesco, Next, and Kingfisher up between 1.4% and 2.4%.
Germany's DAX is lower by 2.0% with all but three components in the red. Thyssenkrupp, Volkswagen, Commerzbank, BMW, and Merck have paced the retreat with losses between 2.0% and 3.8%. Deutsche Bank has given up 1.1% while Beiersdorf outperforms, trading higher by 1.3%.
France's CAC has given up 2.7% with ArcelorMittal diving 10.7%. The stock has tumbled to levels not seen since 2003 while other growth-sensitive names like Lafarge, Technip, Valeo, and Alstom show losses between 2.9% and 4.6%. On the flip side, Nokia Oyj is the lone advancer, adding 1.2%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: -13.00. Nasdaq futures vs fair value: -32.00.

Equity futures remain sharply in negative territory with the S&P 500 futures currently trading 13 points below fair value.

On the corporate front, Viacom (VIAB 40.50, -1.35) has surrendered 3.2% after reporting a miss on Q1 revenue in its earnings report. The company saw domestic advertising revenue decline 4.0% while worldwide advertising revenue declined 3.0%. ITC Holdings (ITC 41.05, +1.67) has climbed 4.2% after the company announced that it would be acquired by Fortis (FTS 41.38, -0.00) for $11.3 billion in cash and stock.

In commodities, oil has dipped back into negative territory after the International Energy Agency warned that the oil glut may worsen in the near term. Currently WTI crude trades lower by 0.3% at $29.60/bbl.

Treasuries trade higher with the yield on the 10-yr note lower by two basis point at 1.73%.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -12.50. Nasdaq futures vs fair value: -23.00.

U.S. equity futures trade hover above overnight lows with the S&P 500 futures trading 13 points below fair value. Futures have been hurt by action overseas that had investor's flight from risk bidding up Japanese Treasuries and strengthening the yen. In Europe broad selling pressure led by banks and miners have added to today's selling pressure. For its part, oil narrowly maintains its position, thanks in part to the weaker dollar's affect on the dollar denominated commodity.

On the economic front, news will be limited to the 10:00 ET release of the Wholesale Inventories report for December (Briefing.com consensus 0.0%) and the JOLTS Job Opening Report for December.

Treasuries have made their way to roughly even after trading higher overnight. The yield on the 10-yr note is unchanged at 1.75%.

In U.S. corporate news of note:

Coca-Cola (KO 42.36, -0.29): -0.7% has slipped this mornings as falling quarterly revenue outshines an EPS and revenue beat
CVS Health (CVS 87.00, -2.65): -3.0% despite reporting in-line EPS and revenue on its Q4 earnigns report this morning
Goodyear Tire (GT 26.39, +0.05) +0.2% after reporting an EPS and revenue beat in their Q4 earnings report

Reviewing overnight developments:

Japan's Nikkei tumbled 5.4% while Hong Kong's Hang Seng and China's Shanghai Composite remained closed for the Lunar New Year.
Economic data was limited:
Japan's M2 Money Stock +3.2% year-over-year (consensus 3.1%; last 3.1%) and Machine Tools Orders -17.2% year-over-year (last -25.7%)
Australia's January NAB Business Confidence slipped to 2 from 3, as expected
In news:
Safe haven bid drove the Japanese 10-yr yield down to -0.01%, representing the first negative yield in the security.
The yen strengthened overnight, pressuring the dollar/yen pair to 114.30, but the pair has climbed into the 115.00 area in recent trade.

European markets trade broadly lower with France's CAC -1.9%, Germany's DAX -1.3%, and the U.K.'s FTSE -0.7%.
In economic data:
Germany's December trade surplus narrowed to EUR18.80 billion from EUR20.50 billion (expected surplus of EUR20.20 billion) as imports fell 1.6% month-over-month (expected -0.5%; last 1.3%) and exports declined 1.6% (consensus 0.5%; last 0.5%)
UK's December trade deficit narrowed to GBP9.92 billion from GBP11.50 billion (expected deficit of GBP10.40 billion)
France's December Government Budget deficit narrowed to EUR70.50 billion from EUR82.80 billion
Swiss January Unemployment Rate held at 3.4%, as expected
In news:
Deutsche Bank released a statement defending its payment capacity, but that has not stopped the stock from retreating today amid persistent concerns about the bank's contingent convertible bonds.
On a separate note, Greek-related fears may be returning to the forefront considering selling in the Greek 10-yr note has driven its yield past 10.50%, representing the highest level since August.

5:55 am: [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +7.80.

5:54 am: [BRIEFING.COM] Nikkei...16085...-918.90...-5.40%. Hang Seng...Holiday.........

5:54 am: [BRIEFING.COM] FTSE...5711.79...+22.40...+0.40%. DAX...8989...+9.60...+0.10%.

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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