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 Post subject: March 8th Tuesday Trade Results - Profit $4625.00
PostPosted: Wed Mar 09, 2016 3:32 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:
030816-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+4625.00.png
030816-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+4625.00.png [ 92.41 KiB | Viewed 278 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 @ $4625.00 dollars or +92.50 points, Light Crude Oil CL ($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 @ $4625.00 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=2308

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 S&P 500 snapped a five-day win streak on Tuesday as the U.S. market reacted to rekindled growth concerns out of China. Meanwhile, a tumble in oil prices, consolidation after the recent leg higher in the major averages, and the underperformance of the heavyweight financial sector (-1.7%) also contributed to today's decline. The Nasdaq Composite (-1.3%) settled behind both the S&P 500 (-1.1%) and the Dow Jones Industrial Average (-0.6%).

Equity indices started their day beneath their flat lines as a weaker-than-expected reading of China's February trade data weighed on the market. The report showed that exports fell 25.4% (consensus -12.5%; last -11.2%) while imports declined 13.8% (expected -10.0%; previous -18.8%). The headline figure showed that the country's trade surplus came in at $32.59 billion (expected $50.15 billion) against the previous month's reading of $63.29 billion.

Stocks climbed off their lows for the bulk of the trading day, but the rally in equities lost steam shortly after the Nasdaq 100 flashed a brief gain. After crude oil's pit session ended, the averages tumbled back towards their lows, reaching their lowest point in the last half hour of trade.

The energy sector (-4.1%) rounded out the leaderboard as a plunge in crude oil weighed on the sector. WTI crude ended its day lower by 3.8% at $36.48/bbl. Meanwhile, the broader energy sector trimmed its March advance to 5.3% as independent oil and gas names demonstrated relative weakness. To that point, Anadarko Petroleum (APC 41.14, -3.96) plummeted 8.8%, but still remains up 5.1% in the month of March.

The materials space (-2.0%) followed energy on the leaderboard as the sector pulled back from its 3.0% gain so far in March. Meanwhile the heavyweight financial sector (-1.7%) followed the pair in the back of the pack.

In the economically-sensitive financial sector, money center banks demonstrated relative weakness while Goldman Sachs (GS 151.60, -3.75) was the second worst performer in the Dow Jones. Life insurance companies underperformed today as MetLife (MET 41.78, -1.07) and Prudential (PRU 70.32, -1.81) fell 2.5% apiece. The two names have climbed a respective 4.5% and 4.6% in March, compared to the 3.8% advance in the broader sector.

The heavily-weighted technology (-0.8%) and consumer discretionary (-0.8%) spaces outperformed throughout today's session as large cap names continued to garner buying interest. Facebook (FB 105.93, +0.20) and Alphabet (GOOGL 713.53, +0.73) managed to recover from early weakness while Nike (NKE 59.81, +0.56) rebounded from yesterday's 3.3% decline.

Biotechnology weighed on the health care sector (-1.3%) as the iShares Nasdaq Biotechnology ETF (IBB 260.13, -9.63) surrendered 3.6%. The sub-group continues to show relative weakness with the ETF surrendering 21.5% since the beginning of 2016 while the broader sector has declined 7.1%.

Utilities (+0.8%), consumer staples (+0.3%), and telecom services (UNCH) were the only three sectors able to end the day in positive territory, as the groups benefited from an early and sustained safe haven bid.

The U.S. Dollar Index (97.19, +0.12) ended its day in positive territory as the euro returned its gain against the greenback while the yen trimmed its advance. The euro/dollar pair slipped 0.1% (1.1007) after falling from a session high of 1.1056. Meanwhile, the dollar/yen pair fell 0.7% to 112.64 after trading as low as 112.44.

The Treasury complex climbed higher to begin the session, but backed away from its high. The yield on the 10-yr note ended lower by eight basis points at 1.82%.

Today's participation was true to the recent average as more than 1.08 billion shares changed hands at the New York Stock Exchange floor.

There was no economic data of note released today.

Tomorrow's economic data will include the weekly MBA Mortgage Index and the January Wholesale Inventories Report (Briefing.com consensus -0.2%), which will cross the wires at 7:00 ET and 10:00 ET, respectively.

Nasdaq -7.2% YTD
Russell 2000 -6.0% YTD
S&P 500 -3.2% YTD
Dow Jones -2.7% YTD

3:40 pm: [BRIEFING.COM]

Apr WTI crude oil prices lost steam today and sold off following the strength seen in recent session
Apr crude finished pit trading -3.8% at $36.48/barrel. However, in electronic trading, oil prices are extending losses
In other energy, Apr natural gas futures gained 1.2% today to $1.71/MMBtu.
Metals lost steam today as well, partially hurt by the dollar index, which reversed higher today
Apr gold slipped 0.1% to $1263.20/oz, while May silver fell -1.5% to $15.40/oz
Apr copper dropped 3% to $2.22/lb

2:55 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the major averages have slid with the S&P 500 (-0.8%) trading in-line with the Nasdaq Composite (-0.8%).

Seven sectors trade in negative territory with technology (-0.4%) and consumer discretionary (-0.4%) extending their declines.

The industrial sector (-1.0%) has underperformed throughout today's session as Caterpillar (CAT 72.05, -2.72) has plunged 3.6%. The stock has rallied 5.3% since the beginning of March while the broader sector has gained 2.4%. Elsewhere, Union Pacific (UNP 78.40, -3.05) has plummeted 3.7% after reaffirming its volume guidance with coal transport volume falling 30.0% in the first quarter while year-to-date volume has declined 5.0%. Meanwhile, CSX (CSX 24.86, -0.68) and Norfolk Southern (NSC 76.69) trade lower in sympathy with Union Pacific.

On the commodities front, WTI crude ended its day lower by 3.8% at $36.48/bbl while gold surrendered 0.1% ($1,263.20/ozt).

2:30 pm:

[BRIEFING.COM] The S&P 500 (-0.5%) has traded in sideways fashion since the last update with the benchmark index 11 points off its worst level of the day.

In the heavyweight health care space (-0.7%) biotechnology demonstrates relative weakness as the iShares Nasdaq Biotechnology ETF (IBB 262.55, -7.21) dives 2.7%. The sub-group is being weighed down by Alexion Pharmaceuticals (ALXN 141.54, -8.05) and Vertex Pharmaceuticals (VRTX 85.22, -5.73), which have surrendered 5.4% and 6.2%, respectively. Alexion Pharmaceuticals underperforms after receiving a downgrade at Robert W. Baird to "Neutral" from "Outperform" and receiving a target price reduction from $221.00 to $170.00. The stock has surrendered 24.3% since the beginning of the year compared to a 20.7% decline in the biotech ETF and a 6.5% loss in the broader health care sector.

On the commodities front, WTI crude trades lower by 3.8% ($36.50/bbl) ahead of the energy component's pit session close at 14:30 ET. Meanwhile, investors look ahead to the American Petroleum Institute's weekly inventory report at 16:35 ET.

2:00 pm:

[BRIEFING.COM] The stock market has inched higher since our last update with the Dow Jones Industrial Average trimming its loss to 0.2% while the S&P 500 (-0.5%) underperforms.

The influential technology (UNCH) and consumer discretionary (-0.1%) sectors briefly entered positive territory, but currently hover beneath their flat lines.

In the consumer discretionary space, large cap Home Depot (HD 127.61, +2.13) outperforms while fellow heavyweight Nike (NKE 60.36, +1.11) recovers from yesterday's 3.3% decline. On a similar note, Netflix (NFLX 97.21, +1.72) has gained 1.8% after surrendering 6.0% on Monday. Meanwhile, Urban Outfitters (URBN 32.75, +4.59) has rocketed 16.2% after reporting bottom-line results above analyst estimates, which invited several upgrades. The broader consumer discretionary sector is one of five groups that remain in negative territory for the year, showing a decline of 2.6% since the end of 2015.

The greenback has gained against the euro in recent action. The euro/dollar pair trades lower by 0.2% at 1.0998 after previously trading as high as 1.1056.

The Treasury complex continues to tick off its session high as the yield on the 10-yr note moves to 1.83% (-7 bps).

1:35 pm:

[BRIEFING.COM] The major U.S. indices have continued their recovery from this morning's notable losses, rallying slightly since our last update.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 72.49, -2.28), DuPont (DD 63.43, -1.28), and Goldman Sachs (GS 152.87, -2.48) are underperforming. Caterpillar and DuPont are weak as the materials sector pulls back following recent gains. Materials are today's second worst performing sector, only behind energy, which has slumped lower by more than 3% on the heels of a 3.3% decline in crude oil futures. Underperformance seen in financials today is weighing on shares of Goldman Sachs and other names in the space.

Conversely, Microsoft (MSFT 52.01, +0.98) is the best-performing Dow component as shares see increased buying interest following yesterday's decline.

With small losses today, the DJIA is still up 0.24% this week, and 3.2% for the month.

1:05 pm:

[BRIEFING.COM] The stock mark began its day under heavy selling pressure as signs of slowing out of China reigned in the major averages following their three-week winning streak. Meanwhile, a reversal in crude oil weighed on investor sentiment and has forced energy (-3.1%) and materials (-1.5%) to the bottom of the leaderboard. The major averages have been able to rally off their session lows as safe haven assets pull away from their session highs. At this juncture, the S&P 500 (-0.6%) trades in-line with the Nasdaq Composite (-0.6%) while the Dow Jones Industrial Average (-0.2%) outperforms.

Last night growth concerns regarding China's economy took center stage after the country reported that its February trade surplus came in at $32.59 billion (expected $50.15 billion) versus the previous month's reading of $63.29 billion. Meanwhile, exports fell 25.4% year-over-year (consensus -12.5%; last -11.2%), which represented the 11th straight year-over-year decline in the past 12 months. As a result, European bourses and U.S. equity futures tumbled.

Oil rebounded momentarily ahead of today's session as the commodity looked to continue its recent resilience. However, the energy component was unable to sustain its rally and surrendered the limited advance before carving out fresh session lows. WTI crude has managed to climb off its session low ($36.56/bbl) to trim its loss to 3.3% at $36.65/bbl.

Commodity-sensitive energy (-3.1%) has pulled back from its recent advance as independent oil and gas names demonstrate relative weakness. Meanwhile, energy giant Chevron (CVX 89.34, -1.33) has slipped 1.5% after the company announced new spending cuts in 2017 and 2018 to improve free cash flow. The company also reiterated the importance of maintaining dividend growth.

The heavily-weighted financial sector (-1.3%) follows the energy and materials (-1.5%) spaces on the bottom of the leaderboard. The economically-sensitive sector is pulling back from a monthly gain of 4.2%, which only trails energy (+6.2% month-to-date) over that period. On that note, Bank of America (BAC 13.12, -0.41) has fallen 3.1% today but still remains up 4.8% in the month of March.

Influential technology (-0.2%) has managed to recover from early weakness that saw the space surrender 1.0% shortly after the open. Large-cap names helped in the rebound effort as Facebook (FB 106.69, +0.96) and Alphabet (GOOGL 718.97, +6.17) recovered from respective losses of 0.4% and 0.6%. Elsewhere, the high-beta chipmakers continue to underperform, evidenced by the 1.7% decline in the PHLX Semiconductor Index.

Countercyclical utilities (+0.7%), consumer staples (+0.7%), and telecom services (+0.6%) have outperformed throughout the session as safe haven assets are bid. On the note, gold has climbed 0.2% to trade at $1,266.40/ozt. The precious metal backed away from a session high ($1,270.50/ozt) as equities recovered from their worst levels of the day.

The U.S. Dollar Index (97.12, +0.05) has recaptured its flat line despite early strength from the yen and the euro. The dollar/yen pair trades at 112.59 (-0.8%) after moving off its session low of 112.44. Meanwhile, the euro dollar has slipped from its session high of 1.1056, trading flat at 1.1014.

The Treasury complex gapped higher at the start of the session, but has since inched away from those levels. Currently, the yield on the 10-yr note is lower by nine basis points at 1.82%.

There was no economic data of note released today.

12:25 pm:

[BRIEFING.COM] The stock market continues to climb off its session low as the Dow Jones Industrial Average (-0.2%) trades ahead of the S&P 500 (-0.5%).

Today's action has seen a bid in risk-averse assets like countercyclical utilities (+0.7%), consumer staples (+0.7%), and telecom services (+0.6%). Their early outperformance was a hallmark during the beginning of the year selloff as the remaining sectors gave in to heavy selling pressure. The three sectors are the best performing groups on a year-to-date basis with respective gains of 9.6%, 2.8%, and 12.4%.

On the commodities front, safe haven gold has managed to climb 0.2% ($1,266.10/ozt) but backed away from its best level of the day ($1,270.50/ozt). Meanwhile, WTI crude trades lower by 2.8% at $36.83/bbl.

The Treasury complex jumped to session highs at the beginning of the session with the yield on the 10-yr note falling from 1.85% to 1.81% (-10 bps). Currently, the yield on the 10-yr note is lower by nine basis points at 1.82%.

11:55 am:

[BRIEFING.COM] The major average continue to move off their session lows as the S&P 500 (-0.7%) trades nine points off its worst level of the day.

Telecom services (+0.5%) have moved into positive territory as consumer discretionary (-0.2%) and technology (-0.2%) trim their respective losses.

The heavyweight technology space (-0.2%) managed to recover from a loss of 1.0% to begin its day as large-cap stocks rebounded off their opening lows. Facebook (FB 107.22, +1.49) and Alphabet (GOOGL 721.79, +8.99) recovered from respective losses of 0.4% and 0.6% before climbing to trade higher by 1.3% apiece. Meanwhile, the high-beta chipmakers demonstrate relative weakness, evidenced by the 1.7% decline in the PHLX Semiconductor Index. The sub-group looks to be pulling back from a larger monthly advance as the space has gained 3.0% month-to-date compared to the 2.5% gain in the broader technology sector.

The U.S. Dollar Index (97.06, -0.01) has ticked off its session low as the dollar gains against the yen and euro. The dollar/yen pair trades at 112.60 (-0.7%) after moving off its session low of 112.44. Meanwhile, the euro dollar has slipped from its session high of 1.1056 as it trims its advance to 0.1% (1.1025).

11:25 am:

[BRIEFING.COM] The major U.S. indices have climbed off their session lows as the S&P 500 (-0.9%) and the Nasdaq Composite (-0.9%) trade neck-and-neck. The benchmark index trades four points off its session low.

The leaderboard remains little changed with commodity-sensitive energy (-3.1%) and materials (-2.2%) leading the downside while the financial sector (-1.5%) clocks in at a distant third.

In the heavyweight financial sector, life insurance names underperform as MetLife (MET 41.53, -1.31) and Prudential (PRU 70.11, -2.02) surrender 3.0% and 2.8%, respectively. Investors could be locking in some profits here as the stocks have gained a respective 5.0% and 6.1% month-to-date, compared to the 4.1% gain in the broader financial sector over that period. The financial sector sports the second largest monthly advance, only trailing energy (+6.3% month-to-date).

On the commodities front, crude oil has ticked off its session low ($36.64/bbl) and currently trades lower by 2.6% at $36.90/bbl. Meanwhile, gold trades higher by 0.5% at $1,270.00/ozt.

11:00 am:

[BRIEFING.COM] The major averages have notched fresh session lows since the last update with the S&P 500 (-1.1%) trading near that level at this juncture.

Eight sectors currently trade in the red while countercyclical utilities (+0.6%), consumer staples (UNCH), and telecom services (-0.3%) outperform.

The commodity-sensitive energy space (-3.3%) has slipped further into the red as the group trims its year-to-date advance to 0.1%. The sector is pulling back from its recent winning streak as crude oil tumbles 3.2% ($36.66/bbl). Independent oil and gas names show the largest losses with Anadarko Petroleum (APC 42.05, -3.05) and ConocoPhillips (COP 39.41, -1.99) falling 6.7% and 4.8%, respectively. However, the two names still show respective gains of 17.9% and 23.6% since the February 11 intraday low in the benchmark index.

The U.S. Dollar Index (96.94, -0.13) remains pressured by strength from the euro and the yen. The dollar/yen pair has fallen 0.9% to 112.47 while the euro/dollar pair has gained 0.4% to trade at 1.1054.

On the Treasuries front, the yield on the 10-yr note has fallen to a new session low of 1.81% (-10 bps).

10:45 am: [BRIEFING.COM]

Oil prices rolled over today following gains in recent sessions. Copper futures are also rolling over
Both are near today's lows. Apr crude is now -2.9% at $36.79/barrel, while Apr copper is -2.9% at $2.22/lb
Gold and silver have been sliding lower some in morning action
Apr gold is now +0.3% at %1268.10/oz, while May silver is -1.2% at $15.45/oz
Natural gas is off today's HoD, but remains in positive territory, now +1.5% at $1.72/MMBtu

9:55 am:

[BRIEFING.COM] The major averages have ticked off session lows as the S&P 500 (-0.7%) floats three points above its worst level.

The heavyweight technology sector (-0.4%) has rebounded off its session low while energy (-1.9%) and materials (-1.8%) have extended their opening declines.

The Dow Jones Transportation Average (-1.8%) demonstrates relative weakness as major airlines weigh on the index. The group is trading lower in sympathy with JetBlue (JBLU 20.16, -1.74), which has tumbled 8.0% after reporting that preliminary revenue per available seat mile decreased between 10.0% and 10.5% year-over-year in February. The Transportation Index has trimmed its year-to-date advance to 0.5%.

The U.S. Dollar Index (97.00, -0.07) has moved off its session low as the yen and euro move off their best levels. The dollar/yen pair trades lower by 0.6% at 112.81 while the euro/dollar pair trades at 1.1041 (+0.2%).

9:45 am:

[BRIEFING.COM] As expected, the major averages opened their day in negative territory as the Nasdaq Composite (-0.9%) outpaced the losses in the S&P 500 (-0.8%).

All ten sectors opened in the red with commodity-sensitive energy (-1.2%) and materials (-1.3%) leading the downside while technology (-1.0%) and industrials (-1.0%) round out the leaderboard. Meanwhile, utilities (-0.1%) and consumer staples (-0.3%) outperform. The remaining decliners show losses between 0.5% (telecom services) and 0.8% (financials).

The Treasury complex moved to a fresh high shortly after the open while the yield on the 10-yr note fell eight basis points to 1.82%.

On the commodities front, WTI crude has surrendered 1.2% to trade at $37.45/bbl while gold has climbed 0.6% to trade at $1,272.50/ozt.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: -11.50. Nasdaq futures vs fair value: -27.70.

The stock market is on track for a lower open as S&P 500 futures trade 12 points below fair value.

Futures and European regional indices fell overnight as both markets responded to renewed growth concerns regarding the Chinese economy. Overnight, China reported that its February trade surplus came in at $32.59 billion (expected $50.15 billion; previous $63.29 billion) with exports falling 25.4% year-over-year (consensus -12.5%; last -11.2%). February's decline in exports marked the 11th year-over-year decline over the past 12 months. As a result, safe haven assets saw increased buying interest. To that point, gold has gained 0.6% to trade at $1,272.20/ozt while the Treasury complex trades broadly higher.

Crude oil displayed early resilience as the commodity climbed off its overnight low ($37.36/bbl) to move into the green. However, the commodity has since returned to negative territory. Currently, the energy component trades lower by 0.2% at $37.80/bbl.

In corporate news, Solar City (SCTY 25.25, +1.06) has climbed 4.4% this morning after announcing that it would be working with Whole Foods (WFM 33.55, -0.06) to install solar power systems at locations across the United States. Meanwhile, Dick's Sporting Goods (DKS 42.90, -1.44) has lost 3.3% in pre-market after reporting fourth quarter results that came in under analyst expectations. The retail name also issued below-consensus earnings guidance for the first quarter and full year 2016.

The dollar continues to lose momentum against the euro and the yen. Currently, the dollar/yen pair trades at 112.94 (-0.5%) while the euro/dollar pair has gained 0.2% (1.1031).

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -7.00. Nasdaq futures vs fair value: -16.40.

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

Equity markets across Asia ended the Tuesday session on a mixed note. Investor sentiment was marred by disappointing data from the region as China's trade figures showed the largest drop in exports (-25.4%) in almost seven years while Japan's Q4 GDP (-0.3%; consensus -0.4%) confirmed that the economy contracted in two of the last three quarters.

In economic data:
China's February trade surplus $32.59 billion (expected $50.15 billion; previous $63.29 billion) as exports -25.4% (consensus -12.5%; last -11.2%) and imports -13.8% (expected -10.0%; previous -18.8%)
Japan's Q4 GDP -0.3% quarter-over-quarter (expected -0.4%; last -0.4%); -1.1% year-over-year (consensus -1.5%; last -1.4%). Separately, January Current Account JPY1.49 trillion (expected JPY1.66 trillion; previous JPY1.69 trillion), February Economy Watchers Current Index 44.6 (consensus 47.5; last 46.6), and February Household Confidence 40.1 (consensus 42.3; previous 42.5)
Australia's NAB Business Survey ticked up to 8 from 5

---Equity Markets---

Japan's Nikkei lost 0.8% with all ten sectors ending in the red. The decline was paced by utilities (-2.7%), health care (-1.8%), and consumer discretionary (-1.1%). Toshiba, Japan Steel Works, Sumitomo Electric Industries, Chubu Electric Power, Shinsei Bank, Alps Electric, and Mitsubishi Financial lost between 2.6% and 7.0%.
Hong Kong's Hang Seng surrendered 0.7% amid broad weakness. Sands China and Galaxy Entertainment were among the biggest laggards, falling 3.7% and 2.6%, respectively, while financials like Bank of China, Ping An Insurance, and HSBC Holdings lost between 0.8% and 1.6%.
China's Shanghai Composite ticked up 0.1%. Bank of China and CITIC Securities added 0.3% and 1.1%, respectively, while China Construction Bank and China Shipbuilding lost 0.4% and 1.5%, respectively.

Major European indices trade in the red after the release of a mixed batch of data that has had little impact on the action in equities. Overall, investors remain on hold ahead of Thursday's European Central Bank policy meeting.

In economic data:
Eurozone Q4 GDP +0.3%, as expected; +1.6% year-over-year (consensus +1.5%; last +1.5%)
Germany's January Industrial Production 3.3% month-over-month (expected 0.5%: last -0.3%)
France's January Trade deficit remained at EUR3.70 billion (expected deficit of EUR4.10 billion)
Spain's January Industrial Production 3.5% year-over-year (expected 3.7%; last 4.1%)
Swiss February CPI +0.2% month-over-month (expected -0.1%; last -0.4%); -0.8% year-over-year (consensus -1.1%; last -1.3%). February Unemployment Rate held at 3.4% (expected 3.5%)

---Equity Markets---

France's CAC trades down 0.2% with most components in the red. ArcelorMittal has surrendered 4.1% while Renault, Peugeot, Airbus, and Technip show losses between 1.3% and 2.5%. On the upside, Societe Generale trades up 0.2%.
Germany's DAX has trimmed its decline to 0.1%, but most components remain in the red. Thyssenkrupp, Continental, Volkswagen, Daimler, and Deutsche Bank are down between 0.6% and 2.0% while BASF and K+S outperform with respective gains of 1.4% and 0.6%.
UK's FTSE has narrowed its loss to 0.2% amid weakness in miners. Anglo American, Glencore, Rio Tinto, BHP Billiton, and Fresnillo are down between 2.4% and 8.7%. On the upside, Burberry has surged 6.5% amid takeover speculation.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -10.70. Nasdaq futures vs fair value: -27.00.

The S&P 500 futures trade 11 points below fair value.

In specific company news, Panera Bread (PNRA 217.00, +1.68) has gained 0.8% after receiving an upgrade at Morgan Stanley from "Equal-Weight" to "Overweight". Separately, Shake Shack (SHAK 38.85, -3.38) has lost 8.0% in pre-market action after the company issued same store sales estimates slightly below analyst expectations. Meanwhile, Barclays lowered its target price on the stock from $48.00 to $40.00, but maintained its "Equal Weight" designation.

The U.S. Dollar Index (97.06, -0.01) has picked up off overnight lows and now flirts with its flat line. The increased pressure comes as the greenback loses ground to the yen and the euro. The dollar/yen pair trades lower by 0.4% at 113.04 after slipping from its morning high of 113.12. Meanwhile, the euro/dollar pair trades higher by 0.1% at 1.1023 after ticking off a morning low of 1.1006.

On the commodities front, WTI crude trades higher by 0.3% at $38.03/bbl while gold has gained 0.8% to trade at $1,274.50/ozt.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: -8.20. Nasdaq futures vs fair value: -21.10.

U.S. equity futures have ticked up off overnight lows while the S&P 500 futures trade eight points below fair value.

Overnight, futures tumbled after slowdown concerns in China were rekindled by a weaker-than-expected reading of the country's February trade data. The report showed that exports fell 25.4% (consensus -12.5%; last -11.2%) while imports declined 13.8% (expected -10.0%; previous -18.8%). Sliding oil prices didn't lend confidence overnight, but the energy component has since recovered and lifted futures. Currently, WTI crude trades higher by 1.0% at $38.27/bbl. Safe haven assets were bid higher as gold, Treasuries, and safe haven currencies benefited. Treasuries trade on their highs while the yield on the 10-yr note is lower by six basis points at 1.85%.

There will be no economic data of note released today.

In U.S. Corporate News of Note:

Urban Outfitters (URBN 31.10, +2.94): +10.4% following the company reporting a bottom-line beat in the fourth quarter
Shake Shack (SHAK 38.50, -3.73): -8.8% despite reporting a top and bottom-line beat while issuing below-consensus same-store sales guidance
Dick's Sporting Goods (DKS 41.40, -2.94): -6.6% after reporting an earnings in the fourth quarter and issuing below-consensus guidance
JetBlue (JBLU 20.91, -0.99): -4.5% following the company reporting that revenue per available seat mile declined 10.0% to 10.5% in February

Reviewing overnight developments:

Asian equity markets ended in a mixed note with Japan's Nikkei -0.8%, Hong Kong's -0.7%, and China's Shanghai Composite +0.1%.
In economic data:
China's February trade surplus $32.59 billion (expected $50.15 billion; previous $63.29 billion) as exports -25.4% (consensus -12.5%; last -11.2%) and imports -13.8% (expected -10.0%; previous -18.8%)
Japan's Q4 GDP -0.3% quarter-over-quarter (expected -0.4%; last -0.4%); -1.1% year-over-year (consensus -1.5%; last -1.4%). Separately, January Current Account JPY1.49 trillion (expected JPY1.66 trillion; previous JPY1.69 trillion), February Economy Watchers Current Index 44.6 (consensus 47.5; last 46.6), and February Household Confidence 40.1 (consensus 42.3; previous 42.5)
Australia's NAB Business Survey ticked up to 8 from 5
In news:
China's trade figures showed the largest drop in exports (-25.4%) in almost seven years

European indices trade in the red with France's CAC -0.4%, the U.K.'s FTSE -0.4%., and Germany's DAX -0.3%.
In economic data:
Eurozone Q4 GDP +0.3%, as expected; +1.6% year-over-year (consensus +1.5%; last +1.5%)
Germany's January Industrial Production 3.3% month-over-month (expected 0.5%: last -0.3%)
France's January Trade deficit remained at EUR3.70 billion (expected deficit of EUR4.10 billion)
Spain's January Industrial Production 3.5% year-over-year (expected 3.7%; last 4.1%)
Swiss February CPI +0.2% month-over-month (expected -0.1%; last -0.4%); -0.8% year-over-year (consensus -1.1%; last -1.3%). February Unemployment Rate held at 3.4% (expected 3.5%)

5:54 am: [BRIEFING.COM] S&P futures vs fair value: -16.00. Nasdaq futures vs fair value: -42.30.

5:54 am: [BRIEFING.COM] Nikkei...16783...-128.00...-0.80%. Hang Seng...20011.6...-148.10...-0.70%.

5:54 am: [BRIEFING.COM] FTSE...6120.77...-61.60...-1.00%. DAX...9631.65...-147.30...-1.50%.

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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