TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 10:22 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: March 21st Monday Trade Results - Profit $1375.00
PostPosted: Tue Mar 22, 2016 4:05 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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:
032116-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1375.00.png
032116-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+1375.00.png [ 92.33 KiB | Viewed 319 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $1375.00 dollars or +27.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $1375.00 dollars

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

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=154&t=2317

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=285&t=3049 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

Attachment:
032116-Key-Price-Action-Markets.png
032116-Key-Price-Action-Markets.png [ 1.12 MiB | Viewed 265 times ]

click on the above image to view today's price action of key markets


4:15 pm: [BRIEFING.COM] The stock market began the week on a higher note as the major averages recovered from a weaker-than-expected February Existing Home Sales reading (5.08 million; Briefing.com consensus 5.37 million) and volatile oil trade. Today's advance was owed to key sector leadership from the heavyweight health care (+0.5%) space and boosted investor sentiment, courtesy of increased M&A activity. To be fair though, an uptick in oil probably helped matters. The Nasdaq Composite (+0.3%) finished ahead of the Dow Jones Industrial Average (+0.1%) and the S&P 500 (+0.1%).

Today's trade got off to a shaky start as market participants eyed volatile oil trade in the wake of last week's increase to the Baker Hughes Rig Count. Meanwhile, today's Existing Home Sales Report reading showed a 7.1% decline in existing home sales month-over-month. These two concerns dampened investor sentiment and pushed the averages to their lowest levels. However, a rebound in the heavily-weighted health care (+0.5%) space assisted a rebound effort in the broader market.

Six of ten sectors ended their day in positive territory with countercyclical telecom services (+0.6%) and health care (+0.5%) leading the upside. Meanwhile, commodity-sensitive materials (-0.5%) and energy (-0.5%) rounded out the leaderboard while the financial sector (-0.2%) settled just below its flat line.

In the health care space (+0.5%), Valeant Pharmaceuticals (VRX 28.98, +2.00) outperformed after announcing a search for a new CEO and naming investor Bill Ackman to its Board of Directors. Biotechnology was able to take advantage of the boost in sentiment as the iShares Nasdaq Biotechnology ETF (IBB 256.46, +5.12) rebounded 2.0%, narrowing its March loss to 2.0%.

The broader consumer discretionary sector (UNCH) ended its day off its low after recovering from the initial sell off following the Existing Home Sales Report. Both Home Depot (HD 131.01, -0.34) and Lowe's (LOW 75.22, +0.29) were able to end the first session of the week near their flat lines after recovering from respective losses of 0.8% apiece. On the flipside, the iShares Dow Jones US Home Construction ETF (ITB 26.53, -0.31) tumbled 1.2%.

On the commodities front, WTI crude ended its day higher by 1.0% ($41.57/bbl), extending its month-to-date climb to 23.2%. This compares to a 11.2% gain in the energy sector (-0.5%) over that period. Meanwhile, oil and gas pipeline companies displayed relative weakness while oil field service name Schlumberger (SLB 74.89, +1.37) outperformed.

On the M&A front, Starwood Hotels (HOT 84.19, +3.62) climbed 4.5% after the company received a revised merger proposal from Marriott (MAR 72.30, -0.86), at $85.36 per share. Separately, IHS (IHS 122.09, +11.38) and Markit (MRKT 33.51, +4.02) agreed to a merger of equals after IHS reported an earnings beat.

The U.S. Dollar Index (95.37,+ 0.28) extended its gain as the yen and the euro slipped against the dollar. The euro/dollar pair ticked down 0.2% to 1.1242 after ticking off the 1.1237 level. Meanwhile, the dollar/yen pair climbed off the overnight low near 111.25 to trade at 111.91 (+0.3%).

The Treasury complex tumbled to fresh lows at the start of the day and continued to fall as stock rallied off their lows. The yield on the 10-yr note ended the day higher by five basis points at 1.92%.

Today's participation fell beneath the recent average with fewer that 812.09 million shares changing hands at the NYSE floor.

On the economic front, today's data was limited to Existing Home Sales for February:

After hitting their highest annual rate in six months in January, total existing home sales declined 7.1% in February to a seasonally adjusted annual rate of 5.08 million. That was below the Briefing.com consensus estimate of 5.37 million and the lowest number of existing homes sold since November 2015. Single-family sales fell 7.2% to a seasonally adjusted annual rate of 4.51 million.
Sales were down in all regions, led by the Northeast (-17.1%) and the Midwest (-13.8%). Those downturns were blamed on the lull in contract signings in January due to the large East Coast blizzard and the slump in the stock market. Sales in the West and in the South were down 1.8% and 3.4%, respectively.
Supply and affordability were touted as the main headwinds for existing home sales, although there was an acknowledgment that households are anxious about the economy losing steam.
The median sales price increased 4.4% versus last year to $210,800, which is the 48th consecutive month of year-over-year gains. All-cash sales slipped to 25% of sales from 26% of sales in January and the same period a year ago.
The share of first-time buyers dipped to 30% in February versus 29% a year ago; however, February marked the lowest share of first-time buyers since November 2015.
Unsold inventory is at a 4.4-month supply at the current sales pace. That is up slightly from a 4.0-month supply in January, yet well below the 6-month supply that is typically seen during normal periods of buying and selling.

Tomorrow's economic data will be limited to January's FHFA Housing Price Index, which will be released at 9:00 ET.

3:40 pm: [BRIEFING.COM]

Natural gas futures were weak again following recent rally
It's not shocking given the supply/demand combo of plenty of supply and slim demand, which worsened following a mild winter
At the end of today's session, Apr nat gas finished -3.7% at $1.83/MMBtu
WTI oil recovered off of overnight lows below $41/barrel and gained buying interest throughout the day
May crude finished floor trading +1% at $41.57/barrel
Metals ended mixed with Apr gold closing -0.8% at $1244.20/oz, while May silver closed +0.3% at $15.85/oz
May copper finished +0.4% at $2.29/lb

2:55 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the major averages float at fresh session highs with the Nasdaq Composite (+0.4%) leading both the Dow Jones Industrial Average (+0.2%) and the S&P 500 (+0.2%).

In front of the pack, telecom services (+0.7%) and health care (+0.5%) lead to the upside while the remaining gainers show upticks between 0.1% (consumer discretionary) and 0.3% (industrials).

In the economically-sensitive financial sector (-0.1%), Goldman Sachs (GS 156.61, -0.99) demonstrates relative weakness after the Federal Reserve approved its application to assume $17 billion of deposits from GE Capital Bank. Meanwhile, real estate trusts underperform while Wells Fargo (WFC 50.670, +0.16) and JPMorgan Chase (JPM 60.53, +0.05) have rallied off their respective lows. The broader financial sector has trimmed its loss to 0.1% from 0.6%.

On the commodities front, WTI crude ended its day higher by 1.0% at $41.57/bbl. So far this month, oil has climbed 23.2%.

2:35 pm:

[BRIEFING.COM] The major averages float near session highs as the Nasdaq Composite (+0.3%) outpaces the advance in the S&P 500 (+0.1%).

Six of ten sectors trade in the green with consumer discretionary (UNCH) moving up the leaderboard to pace utilities (UNCH).

In the industrial sector, Boeing (BA 135.47, +1.51) has pulled back from its 200-day moving average (136.55), but remains higher by 1.1%. Elsewhere, the Dow Jones Transportation Average (UNCH) has lost some momentum, but maintains its footing at its flat line. The composite has gained 10.0% month-to-date, compared to the 6.1% in the benchmark index. FedEx (FDX 164.34, +0.63) continues to build on its post-earnings strength. The company has gained 13.9% since reporting earnings on March 16. Meanwhile, CSX (CSX 26.67, -0.35) weighs on the index as it slips 1.3%.

The U.S. Dollar Index (95.29, +0.20) has extended its gain as the yen and the euro slip against the dollar. The euro/dollar pair remains lower by 0.2% at 1.1250 after ticking off the 1.1237 level. Meanwhile, the dollar/yen pair has climbed off the overnight low near 111.25, trading at 111.78 (+0.2%) at this juncture.

2:00 pm:

[BRIEFING.COM] The stock market has pulled back from a fresh session high as the tech-heavy Nasdaq (+0.2%) remains ahead of the S&P 500 (+0.1%). The benchmarks index rests one points off its high.

Four sectors remain in the red with energy (-0.5%) and materials (-0.5%) trimming their respective losses on the bottom of the leaderboard.

In the technology space (+0.1%), Apple (AAPL 105.44, -0.47) elicited a sell-the-news response in light of its recent product event. The tech giant now trades lower by 0.5% after surrendering a gain of 1.6%. Meanwhile, the high-beta chipmakers have ticked up off their lows following the announcement of the iPhone SE, a new iPad Pro, and a price reduction on the Apple Watch from $399 to $299. The PHLX Semiconductor Index now trades flat.

On the commodities front, gold finished its pit session lower by 0.8% at $1,224.20/ozt. Separately, oil trades higher by 0.9% at $41.51/bbl.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have ticked higher since our last update and are current near session highs.

A look inside the Dow Jones Industrial Average shows that Nike (NKE 65.23, +2.24), Boeing (BA 136.44, +2.48), and Wal-Mart (WMT 68.05, +1.10) are outperforming. Nike was added to JPMorgan's Focus List, while Wal-Mart and Boeing are trading in line with their respective sectors.

Conversely, Chevron (CVX 96.47, -1.22) is the worst-performing Dow component as energy lags despite strength in crude oil futures.

At current levels, the DJIA has extended March's gains to more than 6.8%

1:05 pm:

[BRIEFING.COM] The S&P 500 (-0.1%) trades on a lower note as the benchmark index looks to snap a four-day win streak. Volatility from the oil pit and a weaker-than-expected reading in the February Existing Home Sales Report (5.08 million; est 5.37 million) have pushed today's action towards the downside. However, a rebound in the heavyweight health care sector (+0.3%) and an increase in M&A activity has added support to the broader market. At midday, the benchmark index (-0.1%) trades behind the tech-heavy Nasdaq (+0.1%) and the Dow Jones Industrial Average (+0.1%).

U.S. equity futures and internationals bourses traded modestly lower ahead of today's session as volatile trade in oil outweighed positive developments from China. Overnight, China's Shanghai Composite rallied 2.2% following statements from China's Commerce Minister who alluded to a recovery in the country's March trade data. Meanwhile, regulators also relaxed margin lending rules, which allowed brokers to trade limit up. However, a dip in oil put pressure on markets overseas and at home.

The cash market was able to shake initial volatility in oil, but tumbled from its session high following the poorer than anticipated reading of existing home sales in February. As a result, the economically-sensitive financial sector (-0.4%) and consumer discretionary (-0.2%) tumbled down the leaderboard to join materials (-0.7%) and energy (-0.7%).

In the consumer discretionary space (-0.2%), homebuilders demonstrate relative weakness as the iShares Dow Jones US Home Construction ETF (ITB 26.49, -0.35) surrenders 1.3%. Meanwhile, large cap Disney (DIS 98.16, -1.04) underperforms following a bearish note from Topeka Capital Markets, which lowered its earnings estimates for Disney.

Independent oil and gas names continue to struggle in the energy sector (-0.7%) as WTI succumbs to choppy trade. At this juncture, the energy component trades higher by 0.7% at $41.42/bbl. Meanwhile, pipeline names also underperform as Kinder Morgan (KMI 18.19, -0.53) surrenders 1.4%.

On the flipside, biotechnology looks to rebound from this month's losses. The iShares Nasdaq Biotechnology ETF (IBB 256.69, +5.35) has gained 2.1% today, but remains down 2.9% in the month of March. The broader health care sector (+0.3%) trades higher by 1.7% over that period.

Heavily-weighted technology (+0.1%) tops the board thanks to large-cap Apple (AAPL 106.40, +0.46). The company demonstrates relative strength ahead of its 13:00 ET product release.

On the central bank front, Atlanta Fed President Dennis Lockhart recently stated that a rate hike is not off the table at the Federal Open Market Committee's April meeting.

The U.S. Dollar Index (95.33, +0.25) has climbed higher as the greenback looks to rebound from last week's sharper selling. The dollar/yen pair has gained 0.2% (111.75) while the euro/dollar pair trades at 1.1239 (-0.3%).

The Treasury complex has tumbled to fresh lows since the opening bell as the yield on the 10-yr note climbs four basis points to 1.91%.

On the economic front, today's data was limited to Existing Home Sales for February:

After hitting their highest annual rate in six months in January, total existing home sales declined 7.1% in February to a seasonally adjusted annual rate of 5.08 million. That was below the Briefing.com consensus estimate of 5.37 million and the lowest number of existing homes sold since November 2015. Single-family sales fell 7.2% to a seasonally adjusted annual rate of 4.51 million.
Sales were down in all regions, led by the Northeast (-17.1%) and the Midwest (-13.8%). Those downturns were blamed on the lull in contract signings in January due to the large East Coast blizzard and the slump in the stock market. Sales in the West and in the South were down 1.8% and 3.4%, respectively.
Supply and affordability were touted as the main headwinds for existing home sales, although there was an acknowledgment that households are anxious about the economy losing steam.
The median sales price increased 4.4% versus last year to $210,800, which is the 48th consecutive month of year-over-year gains. All-cash sales slipped to 25% of sales from 26% of sales in January and the same period a year ago.
The share of first-time buyers dipped to 30% in February versus 29% a year ago; however, February marked the lowest share of first-time buyers since November 2015.
Unsold inventory is at a 4.4-month supply at the current sales pace. That is up slightly from a 4.0-month supply in January, yet well below the 6-month supply that is typically seen during normal periods of buying and selling.

12:30 pm:

[BRIEFING.COM] The major averages have ticked lower in recent trade as the Nasdaq Composite (-0.1%) trades in-line with the S&P 500 (-0.1%). The benchmark index floats four points off its session high.

Commodity-sensitive energy (-0.8%) and materials (-0.7%) have extended their losses on the bottom of the leaderboard while the heavily-weighted financial sector (-0.4%) trades ahead of the pair.

In the influential technology sector (+0.1%), large cap constituent Apple (AAPL 106.68, +0.76) outperforms ahead of its 13:00 ET product event. The launch is expected to unveil a smaller iPhone and an updated iPad Air. The sector heavyweight has gained 9.3% since the beginning of March, compared to the 7.2% gain in the broader sector and the 6.0% climb in the benchmark index. Separately, the high-beta chipmakers demonstrate relative weakness as the PHLX Semiconductor Index slips 0.3%.

On the commodities front, WTI crude trades higher by 0.8% at $41.46/bbl while gold has fallen 0.6% to $1,246.30/ozt.

12:00 pm:

[BRIEFING.COM] The S&P 500 (-0.1%) has traded largely sideways since the last update as the benchmark index trades two points below its session high.

Six sectors currently trade in the green as technology (+0.2%) and industrials (+0.1%) join the four countercyclical sectors in positive territory. The countercyclicals show gains between 0.1% (utilities) and 0.6% (telecom services).

In the health care space (+0.2%), biotechnology looks to rebound from its recent downturn. The iShares Nasdaq Biotechnology ETF (IBB 256.20, +4.86) has gained 2.0% today, but remains down 2.0% in the month of March. Meanwhile, the broader sector has gained 1.6% over that period. Elsewhere, Express Scripts (ESRX 68.40, -1.07) has surrendered 1.5% after Anthem (ANTM 140.07, -2.61) filed a lawsuit against the company. Anthem's lawsuit is seeking to terminate its contract with Express Scripts and associated damages for pricing above benchmark levels.

The U.S. Dollar Index (95.20, +0.11) has stumbled from its recent level as the euro gains against the greenback. The euro/dollar pair trades unchanged at 1.1264 after ticking off a low of 1.1249.

11:30 am:

[BRIEFING.COM] The stock market has drifted higher in recent action as the Dow Jones Industrial Average (+0.1%) and the Nasdaq Composite (+0.1%) trade ahead of the S&P 500 (UNCH).

Countercyclical telecom services (+0.6%) and health care (+0.3%) trade ahead of heavily-weighted technology (+0.2%). Conversely, materials (-0.6%) now lead the downside.

In the energy space (-0.5%), independent oil and gas names have been able to tick off their lows as oil swings back into the green. Currently, WTI crude trades higher by 0.9% at $41.48/bbl. Meanwhile, oil field services companies trade on a mixed note with Schlumberger (SLB 74.41, +0.89) trading higher by 1.2%. On the flipside, Halliburton (HAL 36.06, -0.24) and Baker Hughes (BHI 46.53, -0.91) have slipped a respective 0.6% and 1.9% after the European Union suspended a planned merger between the two. This second delay is due to missing information regarding the $35 billion deal.

Recently, President Obama met with Cuban President Raul Castro in the first presidential trip to Cuba since 1928. The two heads of state will discuss economic and political reforms.

11:00 am:

[BRIEFING.COM] The major averages hover near fresh session lows as the S&P 500 (-0.3%) trades two points above its worst level of the day.

The leg lower in the broader market was spurred on by a weaker-than-expected Existing Homes Sales Report for February (5.08 million; Briefing.com consensuses 5.37 million). As a result, the consumer discretionary sector (-0.6%) has slipped to follow energy (-1.0%) and materials (-1.0%) on the bottom of the leaderboard. Meanwhile, WTI crude fell back into negative territory and currently trades lower by 0.5% at $40.95/bbl.

In the consumer discretionary space (-0.6%), heavily-weighted Home Depot (HD 130.53, -0.81) and Lowe's (LOW 74.88, -0.05) plunged following the poor housing figure, but have since pulled off their respective lows. Furthermore, the iShares Dow Jones US Home ETF (ITB 26.39, -0.45) has tumbled 1.7%. Elsewhere in the space, Disney (DIS 97.84, -1.36) has slumped 1.4% following an analyst note from Topeka Capital Markets, which lowered its earnings estimates for Disney after projecting losses for the film The Finest Hours.

10:35 am: [BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, are trading 0.2% lower this morning
The dollar index has been climbing off its overnight LoD and is now +0.1%, helping weigh on commodities
May crude oil futures rallied this morning from its overnight low, rising as high as $41.80/barrel in morning trade
However, in recent trade oil has been pulling back and is now -0.2% at $41.08/barrel
Natural sold off in early morning trade and is now near its LoD, currently -2.8% at $1.85/MMBtu
Metals are mixed with Apr gold now -0.5% at $1248.00/oz and May silver +0.1% at $15.83/oz
May copper is currently +0.2% at $2.29/lb

10:00 am:

[BRIEFING.COM] The major indices have ticked higher in recent trade as the S&P 500 (+0.1%) trades four points off its opening low.

Heavily-weighted technology (+0.2%) and health care (+0.3%) outperform while they follow telecom services (+0.%) on top of the leaderboard.

Just released, existing home sales for February fell 7.1% from January to an annualized rate of 5.08 million units while the Briefing.com consensus expected a reading of 5.37 million.

The U.S. Dollar Index (95.23, +0.15) has gained in the early going as the greenback looks to rebound from last week's sharper selling. The dollar/yen pair has gained 0.2% (111.77) while the euro/dollar pair trades at 1.1262 (-0.1%).

9:45 am:

[BRIEFING.COM] The stock market began its week on a mixed note with the Nasdaq Composite (+0.2%) outpacing the S&P 500 (UNCH).

Seven of ten sectors opened in positive territory with the financial sector (+0.4%) and health care (+0.2%) leading the pack. On the flipside, utilities (-0.7%) and consumer staples (-0.4%) show the largest losses. Biotechnology has demonstrated relative strength in the early going. The sub-group is trading higher in sympathy with Valeant Pharmaceuticals (VRX 27.07, +0.09), which surged as much as 13.0% after announcing the search for a new CEO. The company also appointed Bill Ackman to its board. The iShares Biotechnology ETF (IBB 254.24, +2.90) has jumped 1.1% to begin it week.

On the commodities front, WTI crude trades higher by 1.1% at $41.60/bbl while gold has surrendered 0.6% ($1,246.60/ozt).

The Treasury complex has tumbled to fresh lows since the opening bell as the yield on the 10-yr note climbs four basis points to 1.91%.

9:19 am: [BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -7.60.

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

European indices and U.S. equity futures have ticked off their lows in recent action as oil changes course. On that note, WTI crude trades higher by 0.4% at $41.30/bbl after trading as low as $40.47/bbl. Meanwhile, affairs out of China were the headline event in an otherwise quiet night. To that point, China Shanghai Composite surged 2.2% after relaxed margin lending rules allowed brokers to trade limit up, 10.0%. Additionally, China's Commerce Minister Gao Hucheng hinted at a recovery in the country's March trade data.

Merger and acquisition news has kicked up this morning with several large deals being reported over the weekend. On that note, IHS (IHS 113.00, +2.29) and Markit (MRKT 31.50, +2.01) are trading higher by 2.1% and 6.8% after announcing a merger of equals. Meanwhile, IHS also reported better than expected first quarter earnings. Elsewhere, Sherwin-Williams (SHW 286.40, -2.29) has slipped 0.8% after announcing that it will be purchasing Valspar (VAL 107.00, +23.17) for $113 a share. On the flipside, the European Union suspended the Haliburton (HAL 36.10, -0.20) and Baker Hughes (BHI 47.44, +0.00) merger again, citing missing information.

Treasuries have tumbled in recent action as the yield on the 10-yr note climbs two basis points to 1.90%.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -4.70. Nasdaq futures vs fair value: -10.90.

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

Equity markets across Asia began the week on a relatively quiet note with Japan's Nikkei closed for Spring Equinox Day. For its part, the yen spent the night in a relatively narrow range against the dollar and the dollar/yen pair remains little changed, trading near 111.59 at this juncture. Elsewhere, China's Commerce Minister Gao Hucheng said that March trade data will show a recovery after soft figures to begin the year.

In economic data:
Hong Kong's February CPI +3.1% year-over-year (consensus 2.6%; last 2.7%)
New Zealand's Q4 Westpac Consumer Sentiment 109.6 (previous 110.7), Visitor Arrivals -1.6% month-over-month (last 2.7%), and Credit Card Spending +7.3% year-over-year (last 8.3%)

---Equity Markets---

Japan's Nikkei was closed
Hong Kong's Hang Seng ticked up 0.1%. Property names like Sino Land, Cheung Kong Property Holdings, and Henderson Land gained between 1.3% and 2.0% while energy-related names struggled. Petrochina, CNOOC, and China Petroleum & Chemical lost between 1.0% and 1.7%.
China's Shanghai Composite spiked 2.2% with CITIC Securities, Pacific Securities, and Industrial Securities soaring the limit, 10.0%.

Major European indices trade in mixed fashion with Italy's MIB (+0.4%) showing relative strength. The Monday session has been relatively quiet so far, but it is worth noting that Eurogroup chief Jeroen Dijsselbloem said that the latest round of talks with Greece concluded over the weekend without an agreement on bailout terms. The EU mission is set to return to Athens on April 2.

Economic data was limited:
Eurozone January Current Account surplus EUR25.40 billion (expected surplus of EUR26.30 billion; previous surplus of EUR28.60 billion)
UK's March CBI Industrial Trends Orders -14, as expected (previous -17)
Spain's trade deficit EUR2.39 billion (expected deficit of EUR2.00 billion; previous deficit of EUR1.79 billion)

---Equity Markets---

France's CAC is lower by 0.7% with more than half of its components in the red. Growth-sensitive Total and ArcelorMittal are the two weakest components with losses close to 2.5% apiece. Consumer names also lag with Kering, L'Oreal, Accor, and Louis Vuitton down between 0.5% and 1.6%.
UK's FTSE trades down 0.3%. Miners underperform with Antofagasta, Anglo American, Glencore, and Randgold Resources down between 1.6% and 3.2%. On the upside, drugmakers Shire, Hikma Pharmaceuticals, and AstraZeneca are up between 0.3% and 3.3%.
Germany's DAX has slipped 0.3% amid strength in health care names. Bayer, Merck, and Fresenius show gains between 0.7% and 3.3%. Utilities lag with E.On and RWE both down near 2.5%.
Italy's MIB is higher by 0.4% with BMPS, Banco Popolare, Banca di Milano Scarl, Unicredit, and UBI Banca up between 2.8% and 4.5%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -12.10.

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

Overnight, China's Shanghai Composite (+2.1%) was the standout in an otherwise quiet overseas affair. The country's Commerce Minister boosted investor sentiment after he stated that March trade data will show a recovery from the difficult start to the year. Meanwhile, regulators in China loosened margin lending rules and brokers traded limit up, 10.0%. To be fair though, despite the positive action out of China, futures have remained pressured by a downturn in oil. WTI crude trades lower by 0.3% at $41.02/bbl.

On the corporate front, Symantec (SYMC 18.99, +0.40) has gained 2.2% following an upgrade at Piper Jaffray from "Neutral" to "Overweight."

8:02 am: [BRIEFING.COM] S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: -0.10.

U.S. equity futures trade flat with the S&P 500 futures hovering within one point of fair value.

Ahead of today's session futures slipped from their best levels as oil remained center stage in light of a mostly quiet session. At this juncture, WTI crude trades lower by 0.4% at $41.00/bbl. Meanwhile, the Treasury complex trades modestly lower with the yield on the 10-yr note higher by one basis point at 1.88%.

On the economic front, today's calendar will be light with Existing Home Sales for February (Briefing.com consensus 5.37 million) crossing the wires at 10:00 ET.

In U.S. corporate news of note:

Starwood Hotels (HOT 83.01, 2.44): +3.0% following revised merger terms of $85.36 per share from Marriott (MAR 71.62, -1.53)
Sherwin-Williams (SHW 283, -5.69): -2.0% after announcing the company will acquire Valspar (VAL 106.99, +23.16) for $113 per share
Apple (AAPL 106.08, +0.16): +0.2% ahead of the company's launch event at 13:00 ET
Nike (NKE 63.54, +0.55): +0.9% after JPMorgan added the company to its analyst focus list

Reviewing overnight developments:

Asian-Pacific indices traded higher with China's Shanghai Composite +2.2% and Hong Kong's Hang Seng +0.1%. Meanwhile, Japan's Nikkei was closed for Spring Equinox Day.
In economic data:
Hong Kong's February CPI +3.1% year-over-year (consensus 2.6%; last 2.7%)
New Zealand's Q4 Westpac Consumer Sentiment 109.6 (previous 110.7), Visitor Arrivals -1.6% month-over-month (last 2.7%), and Credit Card Spending +7.3% year-over-year (last 8.3%)
In news:
China's Commerce Minister Gao Hucheng said that March trade data will show a recovery after soft figures to begin the year.

European indices trade on a mixed note with Germany's DAX +0.5%, the U.K.'s FTSE -0.1%, and France's CAC -0.2%. Elsewhere, Italy's MIB trades higher by 1.1%.
Economic data was limited:
Eurozone January Current Account surplus EUR25.40 billion (expected surplus of EUR26.30 billion; previous surplus of EUR28.60 billion)
UK's March CBI Industrial Trends Orders -14, as expected (previous -17)
Spain's trade deficit EUR2.39 billion (expected deficit of EUR2.00 billion; previous deficit of EUR1.79 billion)
In news:
Eurogroup chief Jeroen Dijsselbloem said that the latest round of talks with Greece concluded this weekend without an agreement on bailout terms.
The EU mission is set to return to Athens on April 2.

6:16 am: [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +4.00.

6:15 am: [BRIEFING.COM] Nikkei...Holiday......... Hang Seng...20,719.26...+47.60...+0.20%.

6:15 am: [BRIEFING.COM] FTSE...6,203.66...+13.80...+0.20%. DAX...10,058.40...+107.90...+1.10%.

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


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 0 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr