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 Post subject: February 22nd Monday Trade Results - Profit $500.00
PostPosted: Mon Feb 22, 2016 8:59 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $500.00 dollars or +10.00 points, Light Crude Oil CL ($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 @ $500.00 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=2295

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


4:15 pm: [BRIEFING.COM] The major U.S. indices began their week on an upbeat note as equities rallied in tandem with crude oil. Meanwhile, a reversal in industrial metals buoyed investor sentiment while chatter regarding a merger between industrial giants Honeywell (HON 105.17, -2.10) and United Technologies (UTX 92.37, +4.14) pushed the stock market to its highest level of the day. The averages ended off their best levels with the Nasdaq Composite (+1.5%) and the S&P 500 (+1.5%) leading the Dow Jones Industrial Average (+1.4%). To be fair, conviction in today's rally was lacking, evidenced by relatively light trading volume as fewer than 976 million shares changed hands at the NYSE floor.

Ahead of today's session, oil continued its rebound from the last week as a report from the International Energy Agency elicited a bullish response from investors. The IEA reported that U.S. shale production was expected to decline by 600,000 barrels per day (bpd) in 2016 while falling an additional 200,000 bpd in 2017. As a result, the oil market would begin rebalancing in 2017. Market participants ran with the mid-term outlook and bid WTI crude, sending the commodity higher by 5.1% to $33.38/bbl. Separately, rising industrial metal prices boosted investor confidence as it reportedly reflected receding worries regarding economic growth.

Predictably, commodity-sensitive energy (+2.2%) and materials (+1.9%) were able to end their day in the front of the pack as consumer discretionary (+1.9%) and industrials (+1.7%) followed. Oil and gas companies demonstrated relative strength in the energy sector and helped move the cyclical sector into positive territory for the month (+0.4%).

In the material sector, Alcoa (AA 8.91, +1.04) gained 13.2% amid today's rebound in aluminum (+1.4%) while Eastman Chemical Co. (EMN 64.52, +2.12) outperformed with a gain of 3.4%.

Consumer discretionary names Amazon (AMZN 559.50,+24.60) and Netflix (NFLX 91.93, +2.70) benefited from a a positive profile in Barron's. The two companies were cited as possible beneficiaries of the FCC's decision to move forward with efforts to open the cable box market.

Honeywell and United Technologies initially spiked when CNBC reported that the two companies held merger talks. By the end of the day though, Honeywell settled lower by 2.0% while United Technologies climbed 4.7%. However, it is worth noting that United Technologies reportedly expressed concerns about the deal getting blocked on anti-trust grounds.

The Treasury complex traded in a narrow range, showing modest losses throughout the day. As a result, the yield on the 10-yr note edged up one basis point to 1.76%.

Participants received no economic data of note today, but tomorrow's economic calendar will include the 9:00 ET release of the December Case-Shiller 20-city Index (Briefing.com consensus 5.8%). Separately, February Consumer Confidence (Briefing.com consensus 97.3) and the Existing Home Sales report for January (Briefing.com consensus 5.30 million) will cross the wires at 10:00 ET.

Russell 2000 -9.8% YTD
Nasdaq Composite -8.7% YTD
S&P 500 -4.8% YTD
Dow Jones -4.6% YTD

3:40 pm: [BRIEFING.COM]

Oil prices were the big mover again today
WTI oil futures rallied in early morning trade after the International Energy Agency (IEA) released its Medium-Term Oil Market Report
Apr crude oil finished today's floor session +5.3% at $33.43/barrel
Mar nat gas closed +1.1% at $1.82/MMBtu today
However, the dollar index traded higher all day, and remained near today's high, which pressured most other commodities today, such as precious metals
Apr gold ended today's session -1.7% at $1209.90/oz, while Mar silver ended -1.3% at $15.18/oz
Copper, on the other hand, traded higher all day, finishing +2% at $2.12/lb

3:05 pm:

[BRIEFING.COM] The stock market has slipped lower in recent action, but the S&P 500 (+1.3%) remains within four points of its high.

The consumer discretionary space (+1.8%) trails energy (+2.3%) as industrials (+1.6%) continue to slide down the leaderboard.

In the industrial space, Honeywell (HON 105.15, -2.13) has pared all of its gain since the reporting of merger talkers between the company and United Technologies (UTX 93.32, +5.11). Honeywell may be feeling pullback from the news because CNBC reported that it offered a premium on the smaller company largely in stock with some cash. The two companies have market caps of $83.53 billion and $78.00 billion, respectively.

Separately, in the consumer staples space (+0.3%), Dean Foods (DF 18.82, -1.65) has plummeted 8.1% after reporting an earnings beat on light revenue ahead of today's session. Meanwhile, Wal-Mart (WMT 65.89, +1.23) outperforms as it rebounds from a post-earnings slump. The company is still down 0.5% from when it reported last Friday.

WTI crude ended its Monday higher by 5.1% at $33.38/bbl. The energy component has gained 13.8% over the past week.

2:30 pm:

[BRIEFING.COM] The major indices have ticked lower in recent action with the S&P 500 (+1.3%) and the Nasdaq Composite (+1.4%) pulling back from their highs. The benchmark index trades four points off its high.

The industrial sector (+1.8%) has trimmed its advance in recent action as it jockeys materials (+1.8%) to follow energy (+2.3%).

Alcoa (AA 8.84, +0.97) has gained 12.4% amid today's rebound in aluminum (+1.4%). Separately, Mosaic Company (MOS 25.22, +0.81) and Eastman Chemical Co. (EMN 64.29, +1.89) outperform with gains of 3.2% and 3.0%, respectively.

On the commodities front, gold trades lower by 1.7% at $1,209.50/ozt.

2:05 pm:

[BRIEFING.COM] The major averages have notched new session highs since our last update with the Dow Jones Industrial Average (+1.6%) leading the S&P 500 (+1.5%).

The industrial sector (+2.1%) has moved up to follow energy (+2.6%) on the the top of the leaderboard. The industrial sector has trimmed its year-to-date loss to 1.8%, having climbed 4.2% so far in February.

In the top-weighted technology space, Facebook (FB 107.79, +3.20) demonstrates relative strength with a 3.1% gain on the day. The Information reported that the company is purchasing more ads on Alphabet's (GOOGL 731.69, +9.58) Google search engine. Meanwhile, the high-beta chipmakers now trade in line with the broader market, evidenced by the 1.5% gain in the PHLX Semiconductor Index. Qualcomm (QCOM 50.95, +1.53) outperforms in the sub-group.

On the commodities front, WTI crude trades higher by 5.8% ($33.57/bbl) ahead of its pit close at 14:30 ET.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to trade notably higher on the day, kicking off the week on solid footing..

A look inside the Dow Jones Industrial Average shows that United Technologies (UTX 72.78, +4.55), Chevron (CVX 89.35, +2.85), and UnitedHealth Group (UNH 121.40, +3.72) are outperforming. United Technologies shares have spiked in recent trade following a CNBC report that it has held merger talks with Honeywell (HON 109.30, +2.03) while Chevron is higher alongside its peers in the energy sector as crude oil futures rally nearly 6%. UnitedHealth is trading higher in tandem with managed healthcare names after the CMS proposed 2017 payment and policy updates with a net payment impact of 1.35% increase on average for Medicare Advantage plans.

Conversely, Exxon Mobil (XOM 82.55, +0.05) is the worst-performing Dow component as shares sit out from the broad market rally, despite notable gains seen across the energy sector.

Starting out the week with strong gains, the DJIA has reversed into positive territory for the month, but still shows a decline of 4.6% for 2016.

1:05 pm:

[BRIEFING.COM] The stock market opened its week on a higher note with a rally in crude oil and a reversal in industrial metals boosting investor sentiment. Since the opening rally, the major averages have been able to hold the bulk of their advance as the S&P 500 (+1.2%) trades two points off its best level of the day.

Overnight, oil rebounded amid a report from the International Energy Agency that suggested that the oil market would begin rebalancing in 2017. This rebalancing act would follow U.S. shale production's expected decrease of 600,000 barrels per day (bpd) this year and a 200,000 bpd decline in 2017. Market participants have been largely bullish on the mid-term outlook from the IEA report. At this juncture, WTI crude trades higher by 6.2% at $33.73/bbl.

Accompanying this rally in crude oil was a reversal in industrial metals overnight that had Iron Ore briefly touching the $50.00/mt level before retreating to $49.80/mt (+7.8%). Additional rallies in copper $2.12/lb (+1.9%), aluminum $1,552.00/t (+1.4%) and zinc $1,734.00/t (+3.9%) have boosted confidence since it reportedly reflects receding worries about the economic outlook.

Unsurprisingly, commodity-sensitive energy (+2.0%) and materials (+1.7%) have been able to capitalize on this turn while broad buying interest has kept consumer discretionary (+1.7%) and industrials (+1.6%) near the top of the board.

Independent oil and gas companies have shown relative strength in the energy sector with ConocoPhillips (COP 34.42, +1.55) climbing 4.8%. Separately, the European Union has suspended its deadline for review of the pending Halliburton (HAL 32.72, +1.35) and Baker Hughes (BHI 43.20, +1.06) merger. The EU will set a new deadline due to missing information regarding the transaction.

In the consumer discretionary space, Amazon (AMZN 557.37, +22.47) and Netflix (NFLX 92.86, +3.63) have benefited from a positive profile in Barron's. The two names were cited as possible beneficiaries of the FCC's decision to move forward with efforts to open the cable box market.

At this juncture, all four countercyclical sectors trail the broader market with gains between 1.0% (health care) and 0.3% (consumer staples). In the health care space, Allergan (AGN 284.03, +8.28) demonstrates relative strength after beating earnings estimates on in-line revenue. Separately, biotechnology shows relative weakness as it trades behind the broader sector, evidenced by a 0.7% gain in the iShares Nasdaq Biotechnology ETF (IBB 263.35, +1.54).

On the currency front, the U.S. Dollar Index (97.43, +0.83) has backed away from its best level of the day as the euro and yen tick off their lows. The dollar/yen pair trades at 113.07 (+0.4%) while the euro/dollar trades at 1.1018 (-1.0%).

The Treasury Complex has traded narrowly lower throughout the day. Currently, the yield on the 10-yr note now trades higher by one basis point at 1.76%.

There aren't any economic releases of note out of the U.S. today, although the remainder of the week will feature some important data points like consumer confidence, existing home sales, new home sales, initial claims, durable orders, the second estimate for Q4 GDP, and personal income and spending.

12:30 pm:

[BRIEFING.COM] The S&P 500 (+1.3%) has continued its sideways action while the Nasdaq Composite (+1.3%) has floated a bit lower. At this juncture, the two indices trade four points and seven points off their respective highs.

The consumer discretionary space (+1.6%) now follows materials (+1.9%) and energy (+2.2%) on the top of the leaderboard.

Amazon (AMZN 558.82, +23.92) and Netflix (NFLX 92.09, +2.86) outperform in the discretionary group after Barron's reported a positive view on the companies. Barron's cited last week's FCC decision to open up the cable box market as bullish opportunities for the two names. On the flipside, Macy's (M 40.52, +0.28) trades behind the broader sector ahead of the company's earnings report before tomorrow's opening bell.

The yield on the 10-yr note is higher by two basis points at 1.76%.

12:00 pm:

[BRIEFING.COM] The major average continue drifting near their session highs with the Nasdaq Composite (+1.4%) ahead of the S&P 500 (+1.3%) and the Dow Jones Industrial Average (+1.3%). The benchmark index trades three points off its high.

The Dow Jones Transportation Average (+1.9%) outperforms today and shows the largest monthly gain (+7.5%) of any of the above indices or S&P 500 sectors. Today, the average is being led by CSX (CSX 25.55, +1.04) and FedEx (FDX 135.43, +5.67). CSX is benefiting from an upgrade at Bank of America/ Merrill Lynch to buy and the company joined the Nasdaq-100 today. Interesting to note, with today's performance the broader index has narrowed its decline from its 52-week high to 19.5% and has therefore left bear market designation.

On the currency front, the British pound has spent the past four hours climbing off its low against the dollar. The pound has climbed to 1.4155 against the greenback after hitting a session low at 1.4056.

11:30 am:

[BRIEFING.COM] The stock market has traded sideways since our last update with the S&P 500 (+1.2%) trading narrowly behind the Nasdaq Composite (+1.3%). The two indices trade nine points and four points off their highs, respectively.

The countercyclical sectors continue to underperform the broader market with health care (+0.9%) having the best day on the defensively-oriented side. Interesting to note, health care is the only countercyclical sector in negative territory for the month and year with respective declines of 0.2% and 7.8%.

In the heavyweight health care space, Allergan (AGN 285.51, +9.76) demonstrates relative strength after beating earnings estimates on in-line revenue. Meanwhile, Dow component UnitedHealth Group (UNH 121.81, +4.13) shows the strongest performance in that index. Separately, biotechnology underperforms the broader market and the health care sector, evidenced by a 0.6% gain in the iShares Nasdaq Biotechnology ETF (IBB 263.35, +1.54).

11:00 am:

[BRIEFING.COM] The major averages hover beneath their best levels of the day as the S&P 500 climbs 1.2%. The benchmark index trades five points below its session high.

The commodity-sensitive materials (+2.1%) and energy (+1.8%) sectors remain ahead of the remaining groups as oil pulls back from its high. Currently, WTI crude trades higher by 5.5% at $33.48/bbl.

In the energy space, independent oil and natural gas companies have outperformed while energy giant Exxon Mobil (XOM 82.66, +0.17) trails the broader sector. Separately, the European Union has suspended its deadline for review of the pending Halliburton (HAL 32.81, +1.44) and Baker Hughes (BHI 43.02, +0.88) merger. The EU will set a new deadline due to missing information regarding the transaction.

On the currency front, the U.S. Dollar Index (97.38, +0.78) has backed away from its best level of the day as the euro and yen tick off their lows. The dollar/yen pair trades at 112.98 (+0.3%) while the euro/dollar trades at 1.1025 (-1.0%).

10:40 am: [BRIEFING.COM]

This morning, the International Energy Agency (IEA) released its Medium-Term Oil Market Report, which has given oil prices a boost
The IEA said that global oil supply growth is plunging, with US taking biggest hit for now
Following the collapse in oil prices that began in 2014, it's been pretty clear that the supply part of the supply/demand balance equation was going to be the main catalyst that would really move oil prices
Aside from a bullish headline in the IEA report this morning, there are additional bullish comments. However, make no mistake, there are some bearish comments as well
Apr WTI crude oil hit a new HoD in recent trade and is now +6.3% at $33.76/barrel
In other energy, Mar natural gas is +1.1% at $%1.82/MMBtu
Precious metals are getting hit this morning on strength seen in the dollar index, which is currently up 0.8%
Apr gold is now -1.6% at $1211.00/ozm while Mar silver is -1.1% at $15.21/oz
In industrial metals, Mar copper is +2.1% at $2.12/lb

10:00 am:

[BRIEFING.COM] The major U.S. indices float near their session highs with the S&P 500 (+1.3%) trading narrowly ahead of the Dow Jones Industrial Average (+1.2%). The benchmark index hovers one point below its best level of the day.

At this juncture, all four countercyclical sectors are underperforming the broader market with gains of 1.2% (health care), 0.6% (consumer staples), 0.6% (telecom services), and 0.4% (utilities). The three worst performers of the day have been the three best performers of the year with telecom services, utilities, and consumer staples advancing a respective 8.0%, 6.9%, and 1.1% year-to-date.

Meanwhile, safe haven gold has ticked off its opening low, but remains down 1.5% ($1,212.40).

9:45 am:

[BRIEFING.COM] As expected, the major averages have opened in the green with the Nasdaq Composite (+1.3%) and the S&P 500 (+1.3%) pacing one another.

All ten sectors have opened in positive territory with energy (+1.8%) and materials (+1.8%) jockeying each other on the top of the board. Meanwhile, utilities (+0.2%) and telecom services (+0.2%) shows the slimmest advance of the day. The remaining sectors show gains between 0.5% (consumer staples) and 1.7% (financials).

On the commodities front, WTI crude trades higher by 5.6% at $33.52/bbl. Separately, gold trades lower by 1.7% at $1,209.60/ozt.

The yield on the 10-yr note has ticked up and currently trades higher by two basis points at 1.76%.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: +18.50. Nasdaq futures vs fair value: +37.80.

The S&P 500 futures trade 19 points above fair value. Futures rose along with oil and industrial metals overnight as investors show greater risk tolerance. To that point, WTI crude has climbed 4.7% ($33.23/bbl) while gold has surrendered 1.7% ($1,209.90/ozt) this morning. Treasury yields have backed away from their highs, but the yield on the 10-yr note remains higher by one basis point at 1.75%.

On the corporate front, Allergan (AGN 281, +5.25) has climbed 1.9% in pre-market after reporting an earnings beat on in-line revenue earlier this morning. Separately, HSBC (HSBC 31.25, -0.93) reported full year 2015 results overnight that showed adjusted revenue grew 1.0% since 2014. The company also announced that it was one of several financial institutions being investigated for hiring practices in the Asia-Pacific region.

The U.S. Dollar Index (97.51, +0.91) has climbed 0.9% with weakness in the yen and euro contributing to the strength. The dollar/yen pair trades at 113.15 (+0.4%) while the euro/dollar trades at 1.1014 (-1.1%). Separately, the pound has dropped 2.2% against the dollar overnight as concerns of the U.K.'s exit from the European Union mounted after London Mayor Boris Johnson announced yesterday that he will back the campaign to exit the European Union.

There aren't any economic releases of note out of the U.S. today, although the remainder of the week will feature some important data points like consumer confidence, existing home sales, new home sales, initial claims, durable orders, the second estimate for Q4 GDP, and personal income and spending.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +21.50. Nasdaq futures vs fair value: +43.50.

The S&P 500 futures trade 22 points above fair value.

Equity markets across the Asia-Pacific region started the week on an upbeat note with the advance taking place alongside a steady rally in crude oil. In China, the Shanghai Composite climbed 2.4% after Liu Shiyu was named the new chief securities regulator while Japan's Nikkei rallied 0.9% after disappointing manufacturing data was viewed as a potential catalyst for more monetary stimulus.

In economic data:
Japan's February Manufacturing PMI 50.2 (expected 52.0; previous 52.3)
New Zealand's Credit Card Spending +8.9% year-over-year (prior +7.4%)

---Equity Markets---

Japan's Nikkei gained 0.9%, inching into the neighborhood of last week's highs. Seven sectors ended the day with gains, paced by consumer staples (+2.0%), consumer discretionary (+1.2%), health care (+1.1%), and industrials (+1.1%). On the downside, utilities (-1.9%) and energy (-0.9%) struggled. Trend Micro, Toshiba, Sharp, Konami, Yamaha, and Pioneer gained between 2.5% and 7.7% while Fukuoka Financial, Shinsei Bank, Sumitomo Mitsui Financial, and Mitsubishi UFJ Financial lost between 1.8% and 3.6%.
Hong Kong's Hang Seng climbed 0.9% with most components taking part in the advance. Bank of East Asia, Hang Seng Bank, China Life Insurance, Hang Lung Properties, and Ping An Insurance posted gains between 2.1% and 9.2% while HSBC Holdings and China Resources Land both lost near 2.2%.
China's Shanghai Composite spiked 2.4%. China State Construction Engineering, China Shipbuilding, and Bank of China added between 2.0% and 3.2%.

Major European indices trade higher across the board with Italy's MIB (+2.9%) pacing the rally. Meanwhile, UK's FTSE (+1.6%) also trades in the green while the pound has been hammered, falling 2.3% against the dollar to 1.4075 after London Mayor Boris Johnson announced yesterday that he will back the campaign to exit the European Union. The referendum will be held on June 23 and Moody's has warned that UK's exit from the EU could trigger a negative outlook on UK debt.

In economic data:
Eurozone preliminary February Manufacturing PMI 51.0 (expected 52.0; last 52.3) and preliminary February Services PMI 53.0 (consensus 53.3; last 53.6)
Germany's preliminary February Manufacturing PMI 50.2 (consensus 52.0; last 52.3) and preliminary February Services PMI 55.1 (expected 54.7; last 55.0)
UK's February CBI Industrial Trends Orders -17 (expected -12; last -15)
France's preliminary February Manufacturing PMI 50.3 (consensus 49.9; last 50.0) and preliminary February Services PMI 49.8 (consensus 50.3; last 50.3)
Italy's January CPI -0.2% month-over-month, as expected; +0.3% year-over-year, as expected
Swiss January PPI -0.4% month-over-month (consensus -0.2%: last -0.4%); -5.3% year-over-year (expected -5.1%; last -5.5%)

---Equity Markets---

UK's FTSE trades up 1.6% with miners in the lead. Anglo American, Antofagasta, BHP Billiton, Rio Tinto, and Glencore are up between 4.2% and 7.3%. On the downside, select financials and homebuilders lag with HSBC down 2.6% while Barrat Developments and Taylor Wimpey are both down near 2.5%.
France's CAC has climbed 1.8% amid broad strength. ArcelorMittal, Peugeot, Renault, and Kering show gains between 2.5% and 3.9% while financials Credit Agricole, BNP Paribas, and Societe Generale have climbed between 0.7% and 2.2%.
Germany's DAX is higher by 1.9% with all 30 components in the green. Utilities E.On and RWE lead with respective gains of 4.8% and 4.5% while financials Commerzbank and Deutsche Bank are up 1.7% and 2.8%, respectively. Exporters have also had a good start with BMW, Daimler, and Volkswagen up between 1.6% and 3.3%.
Italy's MIB has spiked 2.9% with financials Banca Pop Emilia Romagna, Banco Popolare, Unicredit, UBI Banca, and BMPS up between 3.9% and 6.1%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +20.00. Nasdaq futures vs fair value: +44.10.

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

In company specific news, Synchrony Financial (SYF 27.99, +1.22) received a positive mention in Barron's, which cited strong loan growth. Shares of Synchrony Financial have climbed 4.6% in pre-market trading. Separately, Dean Foods (DF 20.90, +0.43) has notched higher after reporting an earnings beat on lighter than expected revenue.

On the commodities front, WTI crude trades higher by 5.3% at $33.42/bbl. Meanwhile, gold has tumbled 1.4% this morning to $1,213.40/ozt.

8:05 am:

[BRIEFING.COM] S&P futures vs fair value: +19.30. Nasdaq futures vs fair value: +44.50.

U.S. equity futures hover below overnight highs with the S&P 500 futures trading 19 points above fair value. Overnight, investor sentiment improved as oil prices rebounded after the IEA released its medium-term report that stated that oil will begin rebalancing in 2017. At this juncture WTI crude trades higher by 4.0% at $32.96/bbl.

No economic data of note is set to be released today.

Treasury yields have risen overnight with the yield on the 10-yr note higher by three basis points at 1.77%.

In U.S. corporate news of note:

Lumber Liquidators (LL 11.88, -2.33): -16.4% after the CDC announced that it would be revising findings from its laminate flooring investigation regarding formaldehyde exposure
Salesforce.com (CRM 63.17, +1.03): +1.7% following the company announcing that it will be acquiring PreditionIO
HSBC (HSBC 30.88, -1.30): -4.0% after the company reported it FY15 results showing a 1.0% rise in revenue year-over-year

Reviewing overnight developments:

Asian-Pacific equity markets ended higher with China's Shanghai Composite +2.4%, Hong Kong's Hang Seng +0.9%, and Japan's Nikkei +0.9%.
In economic data:
Japan's February Manufacturing PMI 50.2 (expected 52.0; previous 52.3)
New Zealand's Credit Card Spending +8.9% year-over-year (prior +7.4%)
In news:
In China Liu Shiyu was named the new chief securities regulator

European indices trade higher with Germany's DAX +1.6%, France's CAC +1.6%, and the U.K.'s FTSE +1.3%. Elsewhere, Italy's MIB has gained 2.7%.
In economic data:
Eurozone preliminary February Manufacturing PMI 51.0 (expected 52.0; last 52.3) and preliminary February Services PMI 53.0 (consensus 53.3; last 53.6)
Germany's preliminary February Manufacturing PMI 50.2 (consensus 52.0; last 52.3) and preliminary February Services PMI 55.1 (expected 54.7; last 55.0)
UK's February CBI Industrial Trends Orders -17 (expected -12; last -15)
France's preliminary February Manufacturing PMI 50.3 (consensus 49.9; last 50.0) and preliminary February Services PMI 49.8 (consensus 50.3; last 50.3)
Italy's January CPI -0.2% month-over-month, as expected; +0.3% year-over-year, as expected
Swiss January PPI -0.4% month-over-month (consensus -0.2%: last -0.4%); -5.3% year-over-year (expected -5.1%; last -5.5%)
In news:
The pound has been hammered, falling 2.1% against the dollar to 1.4104 after London Mayor Boris Johnson announced yesterday that he will back the campaign to exit the European Union.
The referendum will be held on June 23 and Moody's has warned that UK's exit from the EU could trigger a negative outlook on UK debt.

6:12 am: [BRIEFING.COM] S&P futures vs fair value: +21.80. Nasdaq futures vs fair value: +50.60.

6:12 am: [BRIEFING.COM] Nikkei...16111...+143.90...+0.90%. Hang Seng...19464...+178.60...+0.90%.

6:12 am: [BRIEFING.COM] FTSE...6017.84...+67.60...+1.10%. DAX...9549.47...+161.40...+1.70%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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