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 Post subject: February 16th Tuesday Trade Results - Profit $1375.00
PostPosted: Wed Feb 17, 2016 6:24 am 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3249
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:
021616-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1375.00.png
021616-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1375.00.png [ 93.35 KiB | Viewed 47 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 @ $1375.00 dollars or +27.50 points, Light Crude Oil CL ($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 @ $1375.00 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=2291

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


4:15 pm: [BRIEFING.COM] The stock market ended its first session of the week on a higher note, with the major indices continuing their rally from the end of last week. Today's trade saw a departure from the recent trend of equities trading lockstep with oil, as well as a persisting appetite for risk in recently sold off sectors. The Nasdaq Composite (+2.3%) ended ahead of the S&P 500 (+1.7%) and the Dow Jones Industrial Average (+1.4%).

U.S. futures were able to capitalize on positive sentiment out of Europe and Asia thanks in part to dovish comments and a positive view on the banking sector from the President of the European Central Bank Mario Draghi. In remarks on Monday, the central bank President defended the banks' capital position and reiterated that the ECB is prepared to do its part to help bolster growth in the region. This sentiment paired with a deal between OPEC and non-OPEC members on a production level freeze was enough to boost futures overnight.

However, market sentiment soured on this deal shortly before the U.S. open, as market participants appeared to favor a production cut agreement. Additionally, doubt over whether Iran and Iraq will participate in the freeze has taken some shine off the deal. Regardless, Saudi Arabia, Russia, Qatar, and Venezuela have proposed a freeze in production at January levels. WTI crude ended its pit session lower by 1.0% at $29.05/bbl.

All ten sectors were able to end their day in positive territory with consumer discretionary (+2.5%), industrials (+2.0%), technology (+1.9%), financials (+1.8%), and health care (+1.8%) leading the pack. These also happen to be the heaviest weighted sectors in the S&P 500, and they outweighed relative weakness in energy (+0.8%).

In the consumer discretionary space, large-cap Priceline (PCLN 1110.68, +52.67) outperformed ahead of its earnings report before tomorrow's open. Meanwhile, diversified media companies showed relative strength after last week's rough outing. On that note, Viacom (VIAB 34.29, +1.48) rebounded 4.5% after falling 18.1% since its February 8 earnings report.

Money center banks demonstrated relative strength in the financial sector. Morgan Stanley (MS 23.72, +0.63) outperformed after receiving several upgrades including an upgrade at JP Morgan from "Neutral" to "Overweight". Conversely, American International Group (AIG 52.06, -0.94) pulled back slightly from Friday's 4.9% rally.

The high-beta chipmakers outperformed in the heavyweight technology space. Sub-group constituents Micron Technology (MU 10.81, +0.79) and Qorvo (QRVO 40.78, +3.23) helped lead the PHLX Semiconductor Index (+3.5%) with gains of 7.9% and 8.6%, respectively. Meanwhile, large cap Apple (AAPL 96.55, +2.56) outperformed.

In the health care space, Bristol-Myers Squibb (BMY 62.18, +1.98) gained 3.3% after Barron's voiced a positive view on the stock over the weekend. Biotechnology had a better showing than the broader health care sector, evidenced by a 3.0% climb in the iShares Nasdaq Biotechnology ETF (IBB 258.72, +7.53).

Treasury yields fluctuated in a narrow range today as the rally in equities went on throughout the day. The yield on the 10-yr note ended its session higher by three basis points at 1.78%.

Today's participation was close to recent averages with more than 1.2 billion shares changing hands at the NYSE floor.

Today's economic data included the Empire Manufacturing Survey for February and the NAHB Housing Market Index for February.

The Empire Manufacturing Survey showed a reading of -16.6 for February (Briefing.com consensus -9.9) versus a prior reading of -19.4. Granted the pace of slowdown decelerated in February, yet things are still a long way from being in a state of expansion in the New York Fed region
The NAHB Housing Market Index for February came in at 58 from a revised 61 in January (from 60) while the Briefing.com consensus expected the reading to come in at 60.0.

After today's session FOMC voting member and Boston Fed President Eric Rosengren is scheduled to speak at 19:30 ET.

Tomorrow's economic data includes the 7:00 ET release of the weekly MBA Mortgage Index while January PPI (Briefing.com consensus -0.2%), January Housing Starts (Briefing.com consensus 1171k), and January Building Permits (Briefing.com consensus 1200k) will be released at 8:30 ET. Separately, the January Industrial Production Report (Briefing.com consensus +0.3%) and Capacity Utilization (Briefing.com consensus 76.6%) will cross the wires at 9:15 ET. Finally, the FOMC minutes from the January 27th meeting will be released at 14:00 ET.

3:40 pm: [BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, are still in the red and are currently -1%
WTI pulled back a large amount from its $31.53/barrel high for today. Mar crude finished floor trading -1% at $29.05/barrel
In other energy, Mar natural futures slipped -3.6% to $1.90/MMBtu
Mar copper had a nice day, rising 1% to $2.05/lb, while precious metals lost steam
Mar silver fell 3% to $15.33/oz, while Apr gold lost -$31.50 to $1207.90/oz

3:05 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the major averages have drifted below their session highs with the S&P 500 (+1.5%) hovering behind the Nasdaq Composite (+2.0%).

The consumer discretionary sector (+2.3%) leads industrials (+2.0%) and financials (+1.7%) atop the leaderboard.

The Dow Transportation Average (+2.1%) has demonstrated relative strength throughout today's session and has managed to climb 4.2% in the month of February. Inside the bellwether space, airlines have shown relative strength with American Airlines (AAL 38.61, +0.79) and Southwest Airlines (LUV 37.07, +0.83) gaining 2.1% and 2.3% apiece. Airlines trade ahead of the broader market even though teamster mechanics for United Continental (UAL 48.88, +0.53) will petition the National Mediation Board for permission to strike after rejecting the company's final contract offer.

On a separate note, the yield on the 10-yr note has slipped in recent action, but remains up two basis points at 1.78%.

2:35 pm:

[BRIEFING.COM] The major indices float underneath session highs with the S&P 500 (+1.5%) trailing the tech-heavy Nasdaq (+2.1%). The benchmark index rests one point below its best level.

The consumer staples space (+0.7%) underperforms with Dr. Pepper Snapple (DPS 91.94, 0.03) lagging ahead of its earnings report prior to tomorrow's open. Hormel Foods (HRL 44.51, +3.01) has climbed 7.3% after reporting an EPS beat in Q1 and issuing above-consensus full year 2016 guidance. Large-cap component Wal-mart (WMT 65.90, -0.27) demonstrates relative weakness ahead of its earnings report slated for Thursday.

On the commodities front, WTI crude ended its pit session lower by 1.4% at $29.04/bbl.

2:00 pm:

[BRIEFING.COM] The stock market floats beneath its session high with the S&P 500 (+1.5%) trading three points below its best level.

The utilities sector (-0.1%) has slipped beneath its flat line in recent action while heavily-weighted industrials (+2.0%) and consumer discretionary (+2.3%) hold the lead.

Elsewhere, Apple (AAPL 96.29, +2.30) outperforms in the technology space (+1.5%) while fellow large-cap Facebook (FB 100.90, -1.09) shows relative weakness with a loss of 1.0%. The high-beta chipmakers show relative strength, evidenced by the 3.8% gain in the PHLX Semiconductor Index. Micron Technology (MU 10.81, +0.79) and Qorvo (QRVO 40.56, +3.01) lead the sub-group with gains of 8.0% apiece.

On the commodities front, WTI crude has slipped to $29.00/bbl (-1.5%) while gold has drifted to $1,203.60/ozt (-2.9%).

1:30 pm:

[BRIEFING.COM] The major U.S. indices continue to trend higher, with stocks near their intra-day highs.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 65.36, +2.21), Cisco (CSCO 25.94, +0.83), and Home Depot (HD 119.96, +3.64) are outperforming. Caterpillar and Home Depot are being helped by broad strength in their respective sectors, while Cisco is trading higher after a bullish Barron's article out over the weekend that followed last week's strong quarterly report.

Conversely, Exxon Mobil (XOM 80.95, -0.08) is the worst-performing Dow component as energy names lag the broad market rally as oil futures sell off from this morning's gains.

Today's extension of gains from Friday has trimmed February's DJIA losses to 1.76%.

1:05 pm:

[BRIEFING.COM] The major averages began their week on a positive note with the stock market continuing its rally from Friday. Contributing to this rebound effort were supportive comments from European Central Bank President Mario Draghi, positive price action overseas, and a newly minted supply freeze agreement regarding crude oil, which helped boost U.S. futures. At this juncture, the Nasdaq Composite (+2.0%) outperforms both the S&P 500 (+1.5%) and the Dow Jones Industrial Average (+1.3%).

Yesterday, overseas indices were able to build on Friday's momentum despite worse than expected trade data out of China. Underpinning positive sentiment in Europe were remarks from ECB President Draghi, which helped rally European bourses. The ECB President defended the banks' capital position and reiterated that the ECB is prepared to do its part to help bolster growth in the region. Today's action saw some pullback from those levels but persisting positive sentiment helped propel U.S. equity futures higher into the Wall Street open.

Saudi Arabia, Russia, Qatar, and Venezuela have proposed a freeze in production at January levels. The headline has come as a bit of a disappointment as market participants appeared to favor an actual production cut agreement. Additionally, doubt over whether Iran and Iraq will participate has taken some shine off the move. Currently, WTI crude trades lower by 1.1% at $29.13/bbl after hitting $31.53/bbl before the U.S. open.

Three of the best performing groups at this time also show three of the worst performances throughout February. On that note, consumer discretionary (+2.3%), financials (+1.8%) and technology (+1.5%) show February losses between 3.9% (consumer discretionary) and 4.4% (technology).

In the consumer discretionary space, Viacom (VIAB 34.70, +1.89) has rebounded 5.7% after falling 17.1% since the February 8 release of its Q1 earnings report. Meanwhile, large-cap Priceline (PCLN 1098.70, +40.69) outperforms ahead of the its earnings report before tomorrow's open.

Morgan Stanley (MS 23.70, +0.61) shows relative strength in the financial group after receiving several upgrades with JP Morgan raising the company's rating from "Neutral" to "Overweight". Elsewhere, money center banks show relative strength. American International Group (AIG 52.36, -0.64) is pulling back slightly from Friday's 4.9% rally.

The commodity-sensitive energy sector (-0.2%) shows relative weakness after surrendering an early gain. Large-cap Chevron (CVX 83.21, -0.14) underperforms the broader space with a loss of 0.2%. Conversely, Phillips 66 (PSX 77.08, +1.88) has climbed 2.5% after Berkshire Hathaway (BRK.B 128.76, +0.69) disclosed the purchase of another one million shares.

Biotechnology outperforms in the larger health care space (+1.7%), evidenced by a gain of 2.6% in the iShares Nasdaq Biotechnology ETF (IBB 258.07, +6.88).

Treasury yields have risen as the rally in equities continues. Currently the yield on the 10-yr note is higher by four basis points at 1.79%.

Today's economic data included the Empire Manufacturing Survey for February and the NAHB Housing Market Index for February.

The Empire Manufacturing Survey showed a reading of -16.6 for February (Briefing.com consensus -9.9) versus a prior reading of -19.4. Granted the pace of slowdown decelerated in February, yet things are still a long way from being in a state of expansion in the New York Fed region
The NAHB Housing Market Index for February came in at 58 from a revised 61 in January (from 60) while the Briefing.com consensus expected the reading to come in at 60.0.

Separately, December's Net Long-Term TIC Flows will cross the wires at 16:00 ET.

12:30 pm:

[BRIEFING.COM] The major averages have rallied to fresh session highs in recent action. Currently, the S&P 500 (+1.3%) trades three points below that level while the Dow Jones Industrial Average (+1.1%) follows.

The Industrial sector (+1.8%) has managed to climb past financials (+1.6%) on the leaderboard while the consumer discretionary sector (+1.9%) remains in the lead.

In the financial space, Morgan Stanley (MS 23.57, +0.48) has shown relative strength today after receiving a string of upgrades over the weekend with JP Morgan raising the company's rating from "Neutral" to "Overweight". Elsewhere, Citigroup (C 38.78, +1.23) has shown relative strength with a 3.2% increase, climbing alongside fellow money center banks. American International Group (AIG 52.46, -0.54) is pulling back slightly from Friday's 4.9% rally.

On the commodities front, oil has slid back towards the $29.00/bbl level with WTI crude lower by 1.1% at $29.11/bbl.

12:00 pm:

[BRIEFING.COM] The major averages have ticked higher in recent action with the S&P 500 (+1.1%) now 2 points offs its session high while the tech-heavy Nasdaq (+1.7%) trades 6 points off its best level of the day. The recent advance has followed a similar move in crude oil, which saw the commodity trim its loss to 0.8% at $29.22/bbl.

In the health care space (+1.4%), Bristol-Myers Squibb (BMY 62.19, +1.99) has shown relative strength in the group after Barron's voice a positive view on the stock over the weekend. Additionally, the company announced that it is entering into a research collaboration agreement with the Dana-Farber Cancer Institute. Biotechnology outperforms in the larger health care space, evidenced by a gain of 2.5% in the iShares Nasdaq Biotechnology ETF (IBB 257.12, +46.04).

On a separate note, the yield on the 10-yr note is now higher by three basis points at 1.78%.

11:35 am:

[BRIEFING.COM] The stock market has drifted sideways in recent action with the S&P 500 (+0.8%) now 8 points off its high.

In the consumer discretionary space (+1.3%), Priceline (PCLN 1081.59, +23.58) outperforms ahead of the company's earnings report before the bell tomorrow. Meanwhile, Viacom (VIAB 34.53, +1.72) has rebounded 5.3% after falling 17.5% since the February 8 release of its Q1 earnings report. The larger sector is bouncing back from a 4.7% loss so far in February, which puts the group only ahead of financials (-4.9%) and technology (-4.9%) during that period.

Treasury yields have ticked lower in recent action after equities shifted lower. The yield on the 10-yr note is now higher by two basis point at 1.77%.

On the currency front, the U.S. Dollar Index (96.84, +0.89) has trimmed its advance as the dollar/yen pair loses ground. At this juncture the currency pair trades at 113.74 (-0.8%).

11:00 am:

[BRIEFING.COM] The major averages have ticked lower in recent action with the Nasdaq Composite narrowing its gain to 1.3% while the S&P 500 (+0.8%) follows. The indices trade 23 points and 9 points below their highs, respectively.

The commodity-sensitive energy sector (-0.2%) shows relative weakness as the group dips into negative territory. The space initially outperformed but slipped from those levels after WTI crude surrendered the $29.00/bbl price level. Currently oil trades lower by 1.8% at $28.91/bbl. Large-cap Chevron (CVX 83.90, -0.47) underperforms the broader space with a loss of 0.6%.

Elsewhere in commodities, gold has inched up off its low with the precious metal now lower by 2.0% at $1,214.90/ozt.

10:40 am: [BRIEFING.COM]

Oil is the big story this morning
Oil prices got a boost following over the weekend that Saudi and Russian oil ministers agrees on the freezing of production
Front-month Mar WTI crude oil rose as high as $30.53/barrel following this news
However, in more recent trade, Mar crude oil has been pulling back and is now -1.7% at $28.94/barrel
Overall, the dollar index is trading % higher, which is helping weigh on commodities in general today
In other energy, Mar natural gas has been in the red all day and is now -3.6% at $1.90/MMBtu
Precious metals are lower as well this morning
Apr gold is now -2.1% at $1213.00/oz, while Mar silver is -2.7% at $15.38/oz
Copper, however, is up 1.2% at $2.05/lb

10:00 am:

[BRIEFING.COM] The major indices float below their opening highs with the S&P 500 (+0.9%) six points below its high. The market drifted lower after oil slipped into negative territory. Currently, WTI crude trades lower by 1.0% at $29.15/bbl.

Commodity-sensitive energy (+0.1%) and materials (+0.2%) have slid in recent action as they follow utilities (UNCH) and telecom services (-0.1%) on the bottom of the board.

Just released, the NAHB Housing Market Index for February came in at 58 from a revised 61 in January (from 60) while the Briefing.com consensus expected the reading to come in at 60.0.

9:40 am:

[BRIEFING.COM] As expected, the major averages opened in positive territory with the tech-heavy Nasdaq (+1.5%) outpacing the S&P 500 (+1.0%).

Nine of ten sectors opened in the green with consumer discretionary (+1.5%) leading the advance. Most remaining advancers show gains between 1.2% (financials) and 0.6% (energy). The countercyclical sectors show the slimmest advances with consumer staples (+0.6%), utilities (UNCH), and telecom services (-0.2%) trailing the pack.

On the commodities front, WTI crude has managed to stay in positive territory with oil higher by 0.2% at $29.50/bbl. Gold continues its decline, now lower by 2.2% at $1,211.50/ozt.

The yield on the 10-yr Treasury note is higher by three basis points at 1.78%.

9:18 am: [BRIEFING.COM] S&P futures vs fair value: +22.30. Nasdaq futures vs fair value: +57.90.

The stock market is on track for a higher open with S&P 500 futures trading 22 points above fair value.

Oil continues its volatile trade after Russia, Saudi Arabia, Qatar, and Venezuela agreed to a production freeze. This headline was a bit of a disappointment because market participants wanted an actual production cut agreement. Currently, WTI crude has managed to return to the green with oil higher by 1.0% at $29.70/bbl.

In corporate news, ADT Corp. (ADT 40.80, +13.93) has climbed 51.9% after agreeing to be acquired by Apollo Global Management for $42.00 a share. Elsewhere, Goldman Sachs (GS 148.72, +2.59) has climbed 1.8% after receiving upgrades from Morgan Stanley and JP Morgan.

On the economic front, the Empire Manufacturing Survey for February registered a reading of -16.6 (Briefing.com consensus -9.9), which was above the prior month's reading of -19.4. The NAHB Housing Market Index for February (Briefing.com consensus 60) and December's Net Long-Term TIC Flows will cross the wires at 10:00 ET and 16:00 ET, respectively.

Separately, the market will hear from Minneapolis Fed President Neel Kashkari at 10:30 ET and FOMC voting member and Boston Fed President Eric Rosengren will speak at 19:30 ET.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +19.00. Nasdaq futures vs fair value: +51.10.

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

Equity markets across Asia ended Tuesday session on a mostly higher note after posting solid gains on Monday. The Monday advance took place amid yen weakness, which continued into the early portion of today's session. However, USD/JPY found resistance just below the 115.00 mark, sliding to 113.84 where it currently trades. Elsewhere, it was reported that China's 2015 bad loans ratio increased to 1.67% from 1.25% during the previous year. The non-performing loan ratio is now at a 10-year high. In central bank news, Bank of Korea left its key interest rate at 1.50%, but one policymaker voted for a cut.

In economic data:
China's January trade surplus $63.29 billion (expected surplus of $58.85 billion; previous surplus of $60.09 billion). Imports -18.8% year-over-year (consensus -0.8%; last -7.6%) and exports -11.2% year-over-year (expected -1.9%; last -1.4%). January New Loans CNY2.51 trillion (expected CNY1.80 trillion; last CNY597.80 billion)
Japan's preliminary Q4 GDP -0.4% quarter-over-quarter (expected -0.3%; previous 0.3%); -1.4% year-over-year (consensus -1.2%; last 1.3%). December Industrial Production -1.7% month-over-month (expected -1.3%; previous -1.4%), and Tertiary Industry Activity Index -0.6% month-over-month (expected 0.1%; last -0.8%).
Australia's January New Motor Vehicle Sales +0.5% month-over-month (expected -0.5%; last -0.5%)
New Zealand's Q4 Retail Sales +1.2% quarter-over-quarter (expected 1.4%; last 1.5%)
Singapore's December Retail Sales -2.1% month-over-month (expected -2.4%; last 1.2%); +2.9% year-over-year (consensus 3.4%; last 4.6%)
India's January WPI Inflation -0.9% year-over-year (consensus -0.15%; last -0.73%) and trade deficit INR7.60 billion (expected deficit of INR9.90 billion; previous deficit of INR11.66 billion)

---Equity Markets---

Japan's Nikkei added 0.2% with six sectors posting gains. Financials (+2.4%), energy (+1.7%), and communications (+1.5%) outperformed while consumer staples (-2.6%) and utilities (-2.4%) lagged. Softbank surged 15.9% while Toshiba, SUMCO, Oki Electric, Kawasaki Heavy Industries, and Mitsubishi Heavy Industries gained between 4.7% and 8.2%. On the downside, Obayashi, Asahi Group Holdings, Nippon Electric Glass, and TEPCO lost between 2.4% and 5.1%.
Hong Kong's Hang Seng gained 1.1% with energy and property names in the lead. Petrochina, China Resources Land, China Overseas, China Petroleum & Chemical, and Sino Land added between 2.2% and 6.4%. Consumer names underperformed with Want Want China, Galaxy Entertainment, and Li & Fung falling between 1.8% and 3.1%.
China's Shanghai Composite spiked 3.3%. Bank of China climbed 3.2%, Citic Securities surged 6.1%, and Agricultural Bank of China advanced 1.7%.

Major European indices trade in mixed fashion while the euro is little changed against the dollar (1.1174) after showing some strength overnight. Regional indices have backed away from their opening levels amid reports the meeting between Russian and Saudi oil ministers resulted in an agreement to freeze production at January levels while the market had hoped the meeting would produce an output cut.

In economic data:
Eurozone December Trade surplus EUR24.30 billion (expected EUR27.50 billion; previous EUR23.60 billion). Separately, ZEW Economic Sentiment 13.6 (consensus 10.3; last 22.7)
Germany's February ZEW Economic Sentiment 1.0 (consensus 3.2; last 10.2) and ZEW Current Conditions 52.3 (expected 55.5; previous 59.7)
UK's January CPI -0.8% month-over-month (expected -0.7%; last 0.1%); +0.3% year-over-year, as expected (last 0.2%). Separately, Core CPI +1.2% year-over-year (consensus 1.3%; last 1.4%) and House Price Index +6.7% year-over-year (expected 7.9%; last 7.7%)

---Equity Markets---

Germany's DAX is lower by 0.8% with Commerzbank and Deutsche Bank both down near 2.8%. Exporters also trade in the red with Volkswagen, Daimler, and BMW down between 0.5% and 1.9%. Elsewhere, Thyssenkrupp, Linde, and BASF show losses between 0.7% and 3.0%. On the upside, Beiersdorf has climbed 1.8%.
France's CAC trades flat with Michelin in the lead. The stock has surged 4.1% following better than expected results while Accor, Vivendi, L'Oreal, and Danone show gains between 1.0% and 2.6%. On the downside, financials BNP Paribas and Societe Generale hold respective losses of 1.3% and 0.7%.
UK's FTSE trades up 0.4% amid strength in energy names. BP and Royal Dutch Shell are both up near 2.2%. Consumer names have also shown strength with Merlin Entertainments, British American Tobacco, Imperial Brands, and Unilever up between 1.3% and 3.1%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +19.00. Nasdaq futures vs fair value: +50.90.

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

The Empire Manufacturing Survey for February registered a reading of -16.6, which was above the prior month's reading of -19.4 and below the Briefing.com consensus estimate, which was pegged at -9.9.

In commodities, WTI crude has pared its gains and now trade in the red with oil trading lower by 0.2% at $29.37/bbl. Elsewhere, gold continues to feel pressure, sinking 2.1% to $1,213.50/ozt.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: +20.50. Nasdaq futures vs fair value: +53.90.

U.S. equity futures trade higher with the S&P 500 futures 21 points above fair value. Futures have been helped by ongoing positive sentiment from Friday's rally with continuing gains in foreign markets. ECB President Draghi added to the positive atmosphere with comments regarding bolstering growth and defending banks. Finally, a production cut freeze between Russia, Saudi Arabia, Qatar, and Venezuela has helped crude oil climb 1.1% to $29.76/bbl.

Treasury yields rest beneath overnight highs with the yield on the 10-yr note higher by two basis points at 1.77%.

Today's economic data includes the 8:30 ET release of the Empire Manufacturing Report (Briefing.com consensus -9.9) for February. Meanwhile, the NAHB Housing Market Index for February (Briefing.com consensus 60) and December's Net Long-Term TIC Flows will cross the wires at 10:00 ET and 16:00 ET, respectively. Additionally, the market will hear from Philadelphia Fed President Patrick Harker at 9:00 ET and Minneapolis Fed President Neel Kashkari at 10:30 ET. FOMC voting member and Boston Fed President Eric Rosengren will also speak at 19:30 ET.

In U.S. corporate news of note:

Community Health Systems (CYH 15.50, -4.18): -22.4% following the company reporting top and bottom-line misses in its Q4 earnings report and issuing below-consensus guidance.
ADT Corp. (ADT 41.02, +14.15): +52.7% after the company agreed to be acquired by Apollo Global Management for $42.00 a share in cash
Groupon (GRPN 3.21, +0.32): +11.15 following Alibaba (BABA 62.87, +1.98) disclosing a 32 million share stake in the company

Reviewing overnight developments:

Asian markets ended their Tuesday session higher after posting solid gains on Monday with China's Shanghai Composite +3.3%, Hong Kong's Hang Seng +1.1%, and Japan's Nikkei +0.2%.
In economic data:
China's January trade surplus $63.29 billion (expected surplus of $58.85 billion; previous surplus of $60.09 billion). Imports -18.8% year-over-year (consensus -0.8%; last -7.6%) and exports -11.2% year-over-year (expected -1.9%; last -1.4%). January New Loans CNY2.51 trillion (expected CNY1.80 trillion; last CNY597.80 billion)
Japan's preliminary Q4 GDP -0.4% quarter-over-quarter (expected -0.3%; previous 0.3%); -1.4% year-over-year (consensus -1.2%; last 1.3%). December Industrial Production -1.7% month-over-month (expected -1.3%; previous -1.4%), and Tertiary Industry Activity Index -0.6% month-over-month (expected 0.1%; last -0.8%).
Australia's January New Motor Vehicle Sales +0.5% month-over-month (expected -0.5%; last -0.5%)
New Zealand's Q4 Retail Sales +1.2% quarter-over-quarter (expected 1.4%; last 1.5%)
Singapore's December Retail Sales -2.1% month-over-month (expected -2.4%; last 1.2%); +2.9% year-over-year (consensus 3.4%; last 4.6%)
India's January WPI Inflation -0.9% year-over-year (consensus -0.15%; last -0.73%) and trade deficit INR7.60 billion (expected deficit of INR9.90 billion; previous deficit of INR11.66 billion)
In news:
The Monday advance took place amid yen weakness, which continued into the early portion of today's session. Currently the pair trade at 113.74.
China's 2015 bad loans ratio increased to 1.67% from 1.25% during the previous year. The non-performing loan ratio is now at a 10-year high.
In central bank news, Bank of Korea left its key interest rate at 1.50%, but one policymaker voted for a cut.

European Indices trade on a mixed note with the U.K.'s FTSE +0.4%, France's CAC +0.2%, abd Germany's DAX -0.7%.
In economic data:
Eurozone December Trade surplus EUR24.30 billion (expected EUR27.50 billion; previous EUR23.60 billion). Separately, ZEW Economic Sentiment 13.6 (consensus 10.3; last 22.7)
Germany's February ZEW Economic Sentiment 1.0 (consensus 3.2; last 10.2) and ZEW Current Conditions 52.3 (expected 55.5; previous 59.7)
UK's January CPI -0.8% month-over-month (expected -0.7%; last 0.1%); +0.3% year-over-year, as expected (last 0.2%). Separately, Core CPI +1.2% year-over-year (consensus 1.3%; last 1.4%) and House Price Index +6.7% year-over-year (expected 7.9%; last 7.7%)
In news:
Regional indices have backed away from their opening levels amid reports the meeting between Russian and Saudi oil ministers resulted in an agreement to freeze production at January levels while the market had hoped the meeting would produce an output cut.

6:10 am: [BRIEFING.COM] S&P futures vs fair value: +19.80. Nasdaq futures vs fair value: +54.60.

6:10 am: [BRIEFING.COM] Nikkei...16054.4...+31.90...+0.20%. Hang Seng...19122...+203.90...+1.10%.

6:10 am: [BRIEFING.COM] FTSE...5827.45...+3.20...+0.10%. DAX...9147.71...-59.10...-0.60%.

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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