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 Post subject: March 7th Monday Trade Results - Profit $9875.00
PostPosted: Tue Mar 08, 2016 5:29 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)

Attachment:
030716-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+9875.00.png
030716-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+9875.00.png [ 92.81 KiB | Viewed 379 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 @ $9875.00 dollars or +197.50 points, Light Crude Oil CL ($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 @ $9875.00 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=154&t=2307

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


4:10 pm: [BRIEFING.COM] The major averages began their week on a flat note as an oil rally was unable to bolster the broader market through the closing bell. Contributing factors to today's trade included a consolidation from the recent three-week winning streak, the underperformance of the heavyweight technology (-0.7%) and consumer discretionary (-0.5%) spaces, and anxiety regarding upcoming central bank policy meetings. The Nasdaq Composite (-0.2%) ended its day behind S&P 500 (+0.1) and the Dow Jones Industrial Average (+0.4%).

The benchmark index was unable to maintain the bulk of its advance despite a sustained rally in energy (+2.4%) and crude oil. The energy component surged 5.5% to $37.90/bbl, continuing its recent winning streak. On that note, WTI crude has jumped 45.5% from its 52-week low of $26.05/bbl on February 11.

The materials sector (+1.2%) was a distant second while countercyclical health care (+0.8%), telecom services (+0.7%), and utilities (+0.6%) followed. Conversely, heavily-weighted technology (-0.7%) and consumer discretionary (-0.5%) rounded out the leaderboard.

Commodity-sensitive materials received a boost from an overnight surge in iron ore, but also outperformed thanks to large cap DuPont (DD 64.71, +1.53). The company climbed 2.4% on news that BASF (BASFY 69.95, +0.66) is considering a counter bid for DuPont during its pending merger with Dow Chemical (DOW 49.76, -0.53).

In the technology sector, large-cap components underperformed with Facebook (FB 105.73, -2.66) and Alphabet (GOOGL 712.80, -17.42) diving 2.4% apiece. Meanwhile, the PHLX Semiconductor Index demonstrated relative strength as it ticked higher by 0.3%. The relative strength came despite noticeable weakness from constituents Micron Technology (MU 11.58, -0.30) and Broadcom (AVGO 143.51, -2.55) which surrendered 2.5% and 1.8%, respectively.

Meanwhile, large names also suffered in the consumer discretionary space (-0.5%). To that point, Amazon (AMZN 562.80, -12.34) and Nike (NKE 59.25, -2.01) plunged a respective 2.2% and 3.3%. Separately, influential Netflix (NFLX 95.49, -6.09) plunged 6.0% after ITG Research cast doubt on the company's domestic streaming estimates.

On the central bank front, slightly diverging opinions between Fed Vice Chairman Stanley Fischer and Fed Governor Lael Brainard cast some light on next week's Federal Open Market Committee meeting. Mr. Fischer contended that inflation is showing signs of acceleration in the U.S. while Ms. Brainard cautioned patience for raising rates in light of tightening financial conditions and softer inflation expectations.

The U.S. Dollar Index (97.10, -0.24) fell today as the euro and the yen gained some steam against dollar. The euro/dollar pair trades higher by 0.1% at 1.1014 while the dollar/yen pair slipped 0.3% to 113.41, but ended off its high (113.73).

Trading volume fell roughly in-line with the recent average as more than 1.10 billion shares changed hands on the NYSE floor.

Treasuries hit their lows during the height of the rally in equities and ended their day near those levels. The yield on the 10-yr note ended higher by three basis points at 1.91%.

Today's economic data included the January Consumer Credit report:

Total outstanding consumer credit increased by $10.5 billion in January. That was below the Briefing.com consensus estimate, which called for growth of $16.5 billion, but up from December when total outstanding consumer credit, which can be prone to sizable revisions, increased by a downwardly revised $6.4 billion (from $21.3 billion).
Total outstanding consumer credit of $3.54 trillion increased at an annual rate of 3.6% in January.
The growth in January was led by a pickup in nonrevolving credit, which increased by $11.6 billion. Revolving credit actually contracted by $1.1 billion.
In the preceding 12-month period leading up to January, consumer credit had risen by an average of $18.0 billion.

There is no economic data of note on tap for tomorrow.

Nasdaq Composite -6.0% YTD
Russell 2000 -3.9% YTD
S&P 500 -2.1% YTD
Dow Jones -2.0% YTD

3:35 pm: [BRIEFING.COM]

The dollar index continued to slide lower today, which helped give as boost to select commodities such as energy futures
Apr crude oil ended the day +5.5% at $37.90/barrel
Natural gas perked up today, rising +1.8% to $1.69/MMBtu (Apr contract)
Metals were another story. Despite the sell off in the dollar index, Apr gold closed -0.5% at $1264.00/oz, while May silver lost -0.3% at $15.64/oz
May copper finished the day flat at $2.28/lb

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour, the major averages have ticked lower with the Nasdaq Composite (-0.7%) trailing the S&P 500 (-0.3%). The benchmark index floats three points above its worst level of the day.

The heavily-weighted technology sector (-1.4%) trades just above its session low, which has dragged the broader market down. Meanwhile, the consumer discretionary space (-1.0%) has extended its decline.

The Consumer Credit report for January was just released by the Federal Reserve and it showed an increase of $10.54 billion while the Briefing.com consensus expected growth of $16.50 billion. The prior month's credit growth was revised higher to $6.4 billion from $21.3 billion.

On the commodities front, WTI crude ended its day higher by 5.5% at $37.90/bbl. This represents the highest close since December 24, 2015 ($38.10/bbl).

2:30 pm:

[BRIEFING.COM] The major indices have slipped lower with the Nasdaq Composite (-0.6%) trading behind the S&P 500 (-0.3%). At this juncture, the benchmark index trades 11 points off its high.

In the industrial sector (UNCH), Caterpillar (CAT 74.73, +1.89) has climbed above its 200-day moving average (73.16). The company gained 2.6% today and currently is the best performing component of the Dow Jones Industrial Average (+0.4%). Meanwhile, rail names outperform with CSX (CSX 25.50, +0.27) and Norfolk Southern (NSC 79.07, +1.67) climbing 1.1% and 2.3%, respectively. On that note, the Dow Jones Transportation Average (+0.2%) shows relative strength and has extended its year-to-date gain to 2.1%.

On the commodities front, WTI crude trades higher by 4.6% at $37.57/bbl ahead of the close of its pit session at 14:30 ET.

The Treasury complex has seen some increased buying interest as of late, but still hovers near its lows. The yield on the 10-yr note is higher by three basis points at 1.90%.

The Consumer Credit report for January (Briefing.com consensus $16.50 billion) is set to be released by the Federal Reserve at 15:00 ET.

2:05 pm:

[BRIEFING.COM] The major averages have traded largely sideways since our last update with the S&P 500 (UNCH) trading six points off its high.

The consumer staples (-0.5%) and consumer discretionary (-0.5%) spaces trade neck-and-neck as the pair follows technology (-0.9%) on the bottom of the leaderboard.

In the consumer staples space, Wal-Mart (WMT 67.97, +1.19) outperforms while fellow discount retail name Costco (COST 148.28, -2.32) demonstrates relative weakness. Costco has plunged 3.0% after reporting top-and-bottom line misses in its second quarter earnings report on March 3.

Separately, Fed Vice Chair Stanley Fischer indicated that the market could be seeing preliminary signs of increasing inflation while Governor Lael Brainard contended that tighter financial conditions and softer inflation expectations may pose downside risk to inflation and domestic activity.

On the commodities front, WTI crude trades higher by 5.1% at 7.76/bbl while gold trades lower by 0.3% at $1,267.00/ozt.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have relinquished most of their gains since our last update, and now sit mixed for the day.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 75.20, +2.36), Chevron (CVX 90.20, +2.27), and DuPont (DD 64.51, +1.33) are outperforming. Chevron is trading higher in tandem with the entire energy sector as crude oil extends its recent rally, gaining more than 5% today. DuPont is seeing increased buying activity following a Bloomberg report late Friday that Germany's BASF is mulling a counter bid for DuPont amid its pending merger with Dow Chemical (DOW 49.67, -0.62).

Conversely, Nike (NKE 59.70, -1.56) is the worst-performing Dow component as consumer discretionary names lag the broad market gains.

With today's gains, the DJIA is now up 3.3% in March.

1:05 pm:

[BRIEFING.COM] The stock market trades modestly higher at midday as a positive move in oil lends support to the broader market, which is consolidating from a three-week winning streak. Meanwhile, the underperformance of the heavily-weighted technology (-0.5%) and financial (-0.1%) sectors has also impacted today's trade. Currently, the Dow Jones Industrial Average (+0.4%) outperforms the S&P 500 (+0.2%) and the Nasdaq Composite (+0.2%).

Ahead of today's session futures followed European bourses lower as both markets looked to consolidate from their recent rallies. To that point, the benchmark index has rallied 10.7% off its February 11 low (1810.10) while the Euro Stoxx 50 Index has climbed 12.7% over that same period. In addition to the general consolidation, equity markets reacted to the National People's Congress in China softening its target GDP growth for 2016 (6.5% to 7.0%; 2015: 7.0%).

U.S. equity indices were able to rally off their session lows as oil extended its advance and lent support to the broader market's consolidation. WTI crude trades higher by 5.6% at $37.92/bbl. Since mid-February, the energy component has rallied 43.8% off its 52-week low ($26.05/bbl).

As a result, energy (+2.2%) has climbed to the top of the leaderboard. Dow components Exxon Mobil (XOM 84.03, +1.74) and Chevron (CVX 90.25, +2.31) have gained 2.1% and 2.6%, respectively. The broader energy sector has gained 9.3% so far this month while moving into positive territory for the year (+3.3%).

Conversely, the influential technology space (-0.5%) shows the largest decline of the day. The space is being weighed down by large cap constituents like Microsoft (MSFT 51.35, -0.65), Facebook (FB 106.34, -2.06), and Alphabet (GOOGL 716.81, -13.41). The three names have surrendered between 1.4% and 1.9% today.

In the consumer discretionary space (-0.2%), heavyweight Amazon (AMZN 564.92, -10.22) weighs on the broader sector as the online retailer plunges 1.8% to begin its week. Meanwhile, fellow FANG name Netflix (NFLX 97.28, -4.30) has lost 4.2% after ITG Research offered cautious comments regarding the company's domestic streaming estimates.

Biotechnology demonstrates relative strength in the health care space (+0.9%). The iShares Nasdaq Biotechnology ETF (IBB +271.49, +8.47) has climbed 3.5% so far today as it looks to moves off steeper year-to-date losses. The ETF has surrendered 19.6% since the end of 2015, but has managed to climb 6.9% in March. Meanwhile the broader sector has gained 2.7% over that period.

The Treasury complex has traded on its lows throughout the session. Currently, the yield on the 10-yr note is higher by four basis points at 1.91%.

The U.S. Dollar Index (97.12, -0.22) has tumbled as the euro strengthens against the dollar. The euro/dollar pair has gain 0.1% at 1.1019.

There was no economic data of note so far today, but Fed Vice Chair Stanley Fischer and Fed Governor Lael Brainard are slated to speak today at 13:00 ET. Meanwhile, the January Consumer Credit report (Briefing.com consensus $16.50 billion) will cross the wires at 15:00 ET.

12:30 pm:

[BRIEFING.COM] The major indices have drifted lower since the last update with the S&P 500 (+0.1%) hovering four points beneath its session high.

Six sectors remain in the green with energy (+1.8%) and materials (+1.0%) outpacing the remaining groups. Meanwhile, heavily-weighted health care (+0.8%) follows the commodity-sensitive sectors.

In the health care space, large caps Eli Lilly (LLY 73.65, +0.05) and Johnson & Johnson (JNJ 106.65, +0.15) underperform the broader sector while biotechnology demonstrates relative strength. The iShares Nasdaq Biotechnology ETF (IBB +270.27, +7.21) has climbed 2.7% so far today as it looks to moves off steeper year-to-date losses. The ETF has surrendered 20.1% since the end of 2015, but has managed to climb 6.4% in March. Meanwhile the broader sector has gained 2.6% over that period.

On the commodities front, gold has slipped 0.2% to $1,268.00/ozt. while crude oil is higher by 4.6% at $37.55/bbl.

12:00 pm:

[BRIEFING.COM] The stock market has notched a new session high in recent action as ongoing support from the energy sector (+1.3%) underpins the broader market. The S&P 500 trades higher by 0.2%.

On the leaderboard, the heavyweight financial sector (UNCH) has moved up to flirt with its flat line while technology (-0.3%) and consumer staples (-0.2%) show the only two other losses of the day.

In the commodity-sensitive energy space (+1.4%), energy giants Chevron (CVX 89.77, +1.84) and Exxon Mobil (XOM 83.59, +1.30) outperform the broader sector with gains of 2.2% and 1.6%, respectively. The broader energy sector has benefited from the continued rebound in crude oil. The commodity has rallied 43.8% since its February 11 low of $26.05/bbl to trade at $37.49/bbl (+4.4%). As a result, the energy sector has gained 8.6% so far this month while moving into positive territory for the year (+2.6%).

The U.S. Dollar Index (97.29, -0.05) has dipped into negative territory as the euro continues to reverse off its session low (1.0941). The euro/dollar pair trades lower by 0.1% at 1.0994.

11:25 am:

[BRIEFING.COM] The S&P 500 has ticked up in recent trade as the benchmark index hovers one point below its session high.

The industrial sector (UNCH) has climbed into positive territory since the last update where it follows health care (+0.3%) and utilities (+0.5%) on the leaderboard.

The influential technology space (-0.7%) remains off its session low (-1.0%) but continues to show the largest decline of the day. Sector large-caps underperform the space with Microsoft (MSFT 50.95, -1.08), Facebook (FB 106.57-, 1.82), and Alphabet (GOOGL 717.38, -12.83) declining between 1.7% and 2.2%. Additionally, the three names have respective month-to-date performances of +0.1%, -0.3%, and unchanged. The broader sector has climbed 2.7% during that period.

Separately, the high-beta chipmakers demonstrate relative strength, evidenced by the 0.1% uptick in the PHLX Semiconductor Index. For the month, the sub-group has gained 4.8%.

11:00 am:

[BRIEFING.COM] The stock market has climbed since our last update with the Dow Jones Industrial Average (+0.1%) crossing into positive territory while the S&P 500 (-0.1%) has trimmed its loss and now trades seven points above its worst level of the day.

The move higher in equities corresponded with oil extending its own rally. Currently, WTI crude trades higher by 3.5% at $37.18/bbl. As a result, materials (+1.2%) and energy (+1.1%) have climbed to their best levels of the day while five sectors remain in negative territory.

The consumer discretionary space (-0.4%), underperforms as heavyweight Amazon (AMZN 560.18, -14.96) weighs on the broader sector. The online retailer has plunged 2.6% thus far today. Meanwhile, fellow FANG name Netflix (NFLX 98.21, -3.37) has lost 3.4% after ITG Research made cautious comments regarding the company's domestic streaming estimates.

The U.S. Dollar Index (97.38, +0.04) has tumbled as the euro strengthens against the dollar. The euro/dollar pair has trimmed its loss to 0.2% at 1.0981.

10:45 am: [BRIEFING.COM]

Energy futures are trading higher today
Oil is rallying again and just rose above $37/barrel
In other energy, natural gas come off of today's lows and just hit a new HoD in recent trade
Currently, Apr crude oil is +3.2% at $37.07/barrel, while Apr nat gas is +3% at $1.72/MMBtu
In the metals space, however, silver and copper futures are sitting at the flat line, while Apr gold is -0.1% at $1269.40/oz
May silver is now at $15.70/oz, May copper $2.27/oz

10:00 am:

[BRIEFING.COM] The major averages have floated lower since our last update with the S&P 500 (-0.5%) trading one point above its session low.

The heavily-weighted technology space (-0.9%) has extended its decline to round out the leaderboard. The group is being hurt by relative weakness from large cap constituents. To that point, Microsoft (MSFT 51.36, -0.67) and Facebook (FB (106.65, -1.74) have surrendered 1.4% and 1.5%, respectively.

Separately, materials (+0.3%) has trimmed its advance. Heavyweight component DuPont (DD 64.17, +0.99) continues to outperform in the space after it was reported that BASF (BASFY 68.70, -0.59) is considering a bid for the company. The chemical giant is also the best performing component of the Dow Jones Industrial Average (-0.2%).

9:45 am:

[BRIEFING.COM] As expected, the major averages began the week under their flat lines. Currently, the Nasdaq Composite (-0.4%) and the S&P 500 (-0.4%) outpace the losses in the Dow Jones Industrial Average (-0.2%).

Eight of ten sectors opened in negative territory with consumer staples (-0.6%) and financials (-0.5%) leading the downside. Meanwhile, commodity-sensitive materials (+0.9%) and energy (+0.5%) show the only gains of the day. The remaining sectors show losses between 0.2% (industrials) and 0.4% (technology).

In commodities, WTI crude trades higher by 1.8% at $36.58/bbl while safe haven gold is down 0.3% at $1,266.40/ozt.

The yield on the 10-yr note is higher by three basis points at 1.91%.

9:12 am: [BRIEFING.COM] S&P futures vs fair value: -11.00. Nasdaq futures vs fair value: -25.40.

The stock market is on track for a lower open with the S&P 500 futures trading 11 points below fair value.

U.S. equity futures have pulled back alongside European bourses as both markets look to consolidate from their recent rallies. To that point, the S&P 500 has climbed 10.5% since its February 11 intra-day low (1810.10) while the Euro Stoxx 50 Index has climbed 12.2% since that date. Meanwhile, both markets look ahead to news from their respective central banks as the European Central Bank is scheduled to meet on Thursday while Fed Vice Chair Stanley Fischer and Fed Governor Lael Brainard are slated to speak today at 13:00 ET.

In corporate news of note, Marvell (MRVL 10.15, +0.40) has jumped 4.1% after the NY Post reported that the company would be open to a sale.

The yield on the 10-yr note is higher by two basis points at 1.90%.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -12.20. Nasdaq futures vs fair value: -28.20.

The S&P 500 futures trade 12 points below fair value.

Equity markets across Asia ended the Monday session on a mixed note. In China, the National People's Congress produced a 2016 GDP target for the nation with growth expected between 6.5% and 7.0%. Furthermore, inflation expectations were held unchanged at 3.0% while the retail sales growth forecast was reduced to 11.0% from 13.0%. Elsewhere, latest polls suggest that support from Japan Prime Minister Shinzo Abe's cabinet has dropped below 50.0%.

In economic data:
Japan's January Leading Index -0.4% month-over-month (last -1.1%) and January Coincident Indicator 2.9% month-over-month (previous -1.1%)
Australia's February AIG Construction Index ticked down to 46.1 from 46.3 while ANZ Job Advertisements -1.2% month-over-month (last 0.9%)

---Equity Markets---

Japan's Nikkei lost 0.6% with nine sectors ending in the red. Utilities (-2.9%), consumer staples (-1.7%), and financials (-1.4%) led the retreat while industrials (+0.5%) outperformed. Kansai Electric Power, Fujifilm Holdings, Oki Electric, Minebea, Fujitsu, Mitsubishi Electric, and Toyota lost between 2.1% and 3.4% while Sharp, Toshiba, Kobe Steel, and Nippon Sheet Glass outperformed with gains between 3.9% and 7.3%.
Hong Kong's Hang Seng shed 0.1%. Gaming and financial names like Galaxy Entertainment, Sands China, HSBC Holdings, and Hang Seng Bank lost between 0.7% and 1.3%. Energy-related listings showed relative strength with China Shenhua Energy, CNOOC, and Petrochina rising between 0.6% and 3.5%.
China's Shanghai Composite rose 0.8%. Sinopec Oilfield Service climbed 0.9% while China Shipbuilding, Gansu Jiu Steel Group, and Inner Mongolia BaoTou Steel climbed between 1.9% and 5.4%.

Major European indices trade lower across the board after retreating steadily from their opening levels. The overall investor sentiment has been dampened by news that the eurogroup will call on Portugal to alter its economic policy amid fears the country may be in need of ESM funds once again.

Economic data was limited:
Eurozone March Sentix Investor Confidence 5.5 (expected 8.0; last 6.0)
Germany's January Factory Orders -0.1% month-over-month (consensus -0.3%; last -0.2%)
Italy's January PPI -0.7% month-over-month (last -0.6%); -2.5% year-over-year (last -3.2%)

---Equity Markets---

France's CAC trades down 1.0% with financials leading the retreat. BNP Paribas, Credit Agricole, and Societe Generale are down between 2.2% and 3.5%. On the upside, Peugeot and Michelin are both up near 0.5%.
Germany's DAX is lower by 1.0% with all but two names in the red. Volkswagen is the weakest performer, down 4.1%, while Deutsche Bank has surrendered 3.4%. BMW and Daimler are both down near 1.0% while Lufthansa is the top performer, climbing 0.3%.
UK's FTSE has surrendered 1.1% with miners leading the decline. Randgold Resources, Glencore, BHP Billiton, and Anglo American are down between 1.9% and 3.7%. On the upside, Old Mutual has jumped 7.3% while Standard Life and Admiral Group are both up near 1.2%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -23.70.

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

In specific company news, DuPont (DD 64.60, +1.42) has climbed 2.3% in pre-market trading after Bloomberg reported that BASF (BASFY) is considering a bid for the chemical giant. DuPont and Dow Chemical (DOW 50.29, +0.00) had previously confirmed a merger on December 11. Separately, reports indicate that British American Tobacco (BTI 115.49, +0.49) may seek to acquire the remaining stake in Reynolds American (RAI 51.71, +0.45).

On the commodities front, WTI crude trades higher by 1.2% at $36.34/bbl while gold is up 0.2% at $1,273.50/ozt.

The U.S. Dollar Index (97.57, +0.23) has slipped as the yen strengthens against the greenback. The dollar/yen pair trades lower by 0.2% at 113.50 after slipping from its overnight high near 113.86.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: -8.20. Nasdaq futures vs fair value: -20.00.

U.S. equity futures trade lower while S&P 500 futures hover eight points below fair value. Futures have taken a defensive posture this morning as European bourses trade broadly lower. For its part, WTI crude trades higher by 1.8% at $36.55/bbl.

The Treasury complex trades broadly lower this morning while the yield on the 10-yr note is higher by three basis points at 1.91%.

On the economic front, today's data will be limited to the 15:00 ET release of the January Consumer Credit report (Briefing.com consensus $16.50 billion).

In U.S. corporate news of note:

AbbVie (ABBV 55.85, -0.30): -0.5% after being removed from the conviction buy list at Goldman Sachs
Micron Technology (MU 11.43, -0.45): -3.8% following a downgrade from "Neutral" to "Reduce" at Nomura
Amazon (AMZN 573.00, -2.14): -0.4% after the company announced that it would restore encryption features on its tablet line

Reviewing overnight developments:

Asian equity markets ended on a mixed note with Japan's Nikkei -0.6%, Hong Kong's Hang Seng -0.1%, and China's Shanghai Composite +0.8%.
In economic data:
Japan's January Leading Index -0.4% month-over-month (last -1.1%) and January Coincident Indicator 2.9% month-over-month (previous -1.1%)
Australia's February AIG Construction Index ticked down to 46.1 from 46.3 while ANZ Job Advertisements -1.2% month-over-month (last 0.9%)
In news:
In China, the National People's Congress produced a 2016 GDP target for the nation with growth expected between 6.5% and 7.0%
Additionally, inflation expectations were held unchanged at 3.0% while the retail sales growth forecast was reduced to 11.0% from 13.0%.
The latest polls suggest that support from Japan Prime Minister Shinzo Abe's cabinet has dropped below 50.0%

European indices trade lower across the board with the U.K.'s FTSE -0.9%, Germany's DAX -0.8%, and France's CAC -0.7%.
Economic data was limited:
Eurozone March Sentix Investor Confidence 5.5 (expected 8.0; last 6.0)
Germany's January Factory Orders -0.1% month-over-month (consensus -0.3%; last -0.2%)
Italy's January PPI -0.7% month-over-month (last -0.6%); -2.5% year-over-year (last -3.2%)
In news:
Investor sentiment has been dampened by news that the eurogroup will call on Portugal to alter its economic policy amid fears the country may be in need of ESM funds once again.

6:13 am: [BRIEFING.COM] S&P futures vs fair value: -11.80. Nasdaq futures vs fair value: -30.30.

6:00 am: [BRIEFING.COM] S&P futures vs fair value: -11.80. Nasdaq futures vs fair value: -30.25.

5:58 am: [BRIEFING.COM] Nikkei...16911...-104.00...-0.60%. Hang Seng...20160...-17.00...-0.10%.

5:58 am: [BRIEFING.COM] FTSE...6148.96...-50.50...-0.80%. DAX...9709.60...-114.60...-1.20%.

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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