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 Post subject: March 22nd Tuesday Trade Results - Profit $4937.50
PostPosted: Tue Mar 22, 2016 10:19 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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032216-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+4937.50.png [ 95.48 KiB | Viewed 349 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 @ $4937.50 dollars or +98.75 points, Light Crude Oil CL ($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 @ $4937.50 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=2318

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

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

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

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

Analysis -----> Trade Signals

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

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

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Market Context Summaries

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

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


4:15 pm: [BRIEFING.COM] The major averages ended the Tuesday session on a mixed note as a rebound in the health care space (+0.9%) and the outperformance of the technology sector (+0.1%) outweighed the initial selling pressure following news of a terrorist attack in Brussels. Meanwhile, sustained strength from the energy sector (-0.3%) also helped support the move higher in the broader market. The Dow Jones Industrial Average (-0.2%) ended its day behind the S&P 500 (-0.1%) and the Nasdaq Composite (+0.3%).

Today's session began on a shaky note as investors turned to safe havens following reports of terror attacks in Belgium's capital of Brussels. Explosions at the Brussels airport and a crowded metro station resulted in at least 30 deaths and more than 200 injuries. Terrorist organization ISIS has since claimed responsibility for the attack. Because of the attack, the major indices all opened beneath their flat lines and risk averse assets received a bid.

The consumer discretionary space (-0.2%) and the industrial sector (-0.3%) showed early weakness as lodging names and airlines displayed heavy losses. However, an extended rally in the recovering health care group (+0.9%) and sector leadership from the influential technology space (+0.1%) helped support the broader market. As a result, the remaining sectors were lifted from their session lows.

Health care (+0.9%), technology (+0.1%), and materials (+0.1%) ended in the green while consumer staples (-0.8%), telecom services (-0.5%), and financials (-0.3%) ended with the largest losses.

The heavily-weighted health care space (+0.9%) boosted investor sentiment as biotechnology extended this week's rebound effort. To that point, the iShares Nasdaq Biotechnology ETF (IBB 263.10, +6.61) extended its weekly gain to 5.0%. Meanwhile, health care large caps also outperformed with AbbVie (ABBV 57.50, +1.49) and Pfizer (PFE 30.38, +0.31) gained 2.7% and 1.0%, respectively.

In the technology space, heavyweight component Apple (AAPL 106.72, +0.81) gained 0.8% in the wake of yesterday's flat showing following its product event. Separately, data storage names like Western Digital (WDC 51.34, +2.05) and Seagate Technology (STX 37.04, +0.50) outperformed while the PHLX Semiconductor Index (-0.1%) ended modestly lower.

The energy sector (-0.3%) was able to avoid larger losses despite a downturn in oil. WTI crude ended its day lower by 0.3% at $41.45/bbl after reports indicated that Libya will not take part in a proposed supply cut between OPEC and non-OPEC countries. To be fair though, oil and gas pipeline companies ended with the largest gains as the names likely benefited from the 1.6% jump in natural gas ($1.86/mmbtu).

The U.S. Dollar Index (95.63, +0.35) ended off its best level of the day, but the greenback still remained higher against the yen and the euro. The dollar/yen pair traded higher by 0.3% (112.31) after rallying off the 111.55 level. Meanwhile, the euro/dollar pair finished its day lower by 0.2% at 1.1219.

The yield on the 10-yr note slipped to 1.88% (-4 bps) at the beginning of today's session, but Treasuries sold off as stocks rallied. The yield on the 10-yr note ended higher by two basis points at 1.94%.

Once again, today's volume was on the lighter side as fewer than 819.21 million shares changed hands on the NYSE floor.

Today's economic data was limited to the FHFA Housing Price Index for January, which rose 0.5% month-over-month after increasing a revised 0.5% (from 0.4%) in December.

Tomorrow's economic data will include the 7:00 ET release of the weekly MBA Mortgage Index and the February New Homes Sales Report (Briefing.com 511k), which will cross the wires at 10:00 ET.

3:40 pm: [BRIEFING.COM]

Despite the dollar rallying to new highs, commodities, as measured by the Bloomberg Commodity Index, increased to 81.23
WTI crude oil futures spiked initially in morning trade and then dropped and consolidated for the rest of the day, erasing yesterday's gains
At the end of today's session, May crude closed -0.3% at $41.45/barrel
Natural gas initially declined in morning trading, but then rallied to close at a new high of the day
Apr natural gas finished floor trading +1.6% at $1.86/MMBtu
Apr gold dropped early and consolidated the rest of the day to close modestly up +0.4% at $1248.50/oz
May silver rallied in morning trade before dropping midday and consolidating the rest of the day to close +0.3% higher at $15.89/oz
Base metal copper rallied in the morning before consolidating at parity with yesterday's close to finish the day flat at $2.29/lb

3:00 pm:

[BRIEFING.COM] The Nasdaq Composite (+0.5%) remains ahead of the S&P 500 (+0.2%) as the stock market enters its final hour of trade. The benchmark index is two points off its best level of the day.

Countercyclical consumer staples (-0.5%), telecom services (-0.2%), and utilities (-0.1%) are the three worst performers of the day.

In the financial sector (-0.1%), life insurance companies demonstrate relative weakness with MetLife (MET 44.21, -0.29) and Prudential (PRU 74.15, -0.40) slipping 0.7% and 0.6%, respectively. The two names have surrendered a respective 1.2% and 1.1% over the last two days, compared to a 0.3% loss in the broader sector. Meanwhile, Dow component Goldman Sachs (GS 154.06, -2.24) is the worst performing constituent of the price-weighted index.

On the commodities front, WTI crude ended its day lower by 0.3% at $41.45/bbl while natural gas closed its pit session at $1.86/mmbtu (+1.6%).

2:30 pm:

[BRIEFING.COM] The major averages have trades sideways since the last update as the S&P 500 (+0.2%) outperforms the Dow Jones Industrial Average (+0.1%).

The financial sector (-0.1%) trades neck-and-neck with the consumer discretionary space (-0.1%) as the two heavyweights trail technology (+0.3%).

In the consumer discretionary space, Nike (NKE 65.23, +0.51) outperforms ahead of its earnings report after today's close. The stock has gained 2.6% week-to-date, compared to a flat reading in the broader group. However, Nike has jumped 5.3% in March compared to a 5.1% gain in the sector. Separately, fellow large cap Amazon (AMZN 560.22, +6.24) has gained 1.1% as it extends its March advance to 1.4%.

WTI crude trades lower by 0.5% ($41.31/bbl) ahead of the commodity's pit session close at 14:30 ET.

The Treasury complex trades on its lows with the yield on the 10-yr note higher by one basis point at 1.93%.

2:00 pm:

[BRIEFING.COM] The stock market floats beneath its recent high as the Nasdaq Composite (+0.4%) outperforms the S&P 500 (+0.1%). The benchmark index trades two points off its high.

Four of ten sectors remain in positive territory with health care (+1.1%), technology (+0.3%), and commodity-sensitive materials (+0.2%) topping the leaderboard.

In the heavily-weighted technology space Apple (AAPL 106.71, +0.80) outperforms after yesterday's flat performance following its product event. Meanwhile, data storage names like Western Digital (WDC 51.38, +2.09) and Seagate Technology (STX 37.10, +0.56) also display relative strength as the pair gain a respective 4.3% and 1.5%. Separately, the PLX Semiconductor Index (+0.1%) has rebounded from an earlier 0.8% loss to hover above its flat line.

On the commodities front, gold ended its pit session off its session high, but still ended the day up 0.4% ($1,248.50/ozt).

1:35 pm:

[BRIEFING.COM] Since our last update, the major U.S. indices have given back a portion of today's gains, but still sit marginally in positive territory.

A look inside the Dow Jones Industrial Average shows that Pfizer (PFE 30.52, +0.45), UnitedHealth Group (UNH 128.38, +1.64), and Merck & Co (MRK 53.41, +0.61) are outperforming in uniform with the entire health care sector seeing increased buying interest. The health care sector is up more than 1% today, while the next best performing space, IT, is up roughly 0.35%.

Conversely, Goldman Sachs (GS 154.47, -1.82) is the worst-performing Dow component as financials trade lower on the day.

For the week, the DJIA is up 0.2%, and now up more than 6.8% in March

1:10 pm:

[BRIEFING.COM] The stock market opened the Tuesday affair under moderate selling pressure as investors responded to news of terror acts in Brussels. Since the opening half hour, the major indices have been able to move off their worst levels of the day, and now trade on a higher note. Contributing factors to today's trade have included the outperformance of the heavily-weighted technology (+0.3%) and health care (+1.0%) spaces, as well as resilience from the commodity-sensitive energy sector (+0.2%). At midday, the Nasdaq Composite (+0.4%) outperforms the S&P 500 (+0.2%) and the Dow Jones Industrial Average (+0.1%).

Futures slipped in the early morning hours following reports of a pair of terror acts in Belgium's capital of Brussels. Two explosions were set off, one at the Brussels airport and the other taking place in the city's metro system. Currently, reports indicate that 30 people have been killed in the two attacks while 186 more were injured. The explosions occurred four days after the capture of Salah Abdeslam, a suspect in November's Paris attacks, and recently ISIS claimed responsibility for the attacks.

As a result, the cash markets struck an initial defensive posture as all ten sectors began in negative territory. However, early selling pressure eased within the first half hour of trade as an extended rally in biotechnology lifted the heavyweight health care space (+1.0%) to the top of the leaderboard. Currently, eights sectors trade in the green with health care (+1.0%), materials (+0.3%), technology (+0.3%) and energy (+0.2%) leading the upside.

The health care space (+1.0%) looks to rebound from larger yearly losses as the group shows the worst performance over that period (-5.9% year-to-date). On that note, the iShares Nasdaq Biotechnology ETF (IBB 262.49, +6.00) has extended its weekly gain to 4.8%, but remains down 20.7% for the year. Meanwhile, Eli Lilly (LLY 71.98, +1.73) is extending its own rebound as it trims its month-to-date decline to 0.9%.

On the commodities front, WTI crude tumbled as much as 1.6% ($40.84/bbl) following news that Libya will not take part in a proposed supply cut. However, the energy component has been able to move off its worst level of the day and shows a loss of 0.4% ($41.37/bbl) ahead of tonight's weekly inventory report from the American Petroleum Institute. The commodity-sensitive energy sector (+0.2%) has also shown marked resilience today as oil and gas refiners outperform.

On the bottom of the leaderboard, consumer staples (-0.4%), telecom services (-0.1%) consumer discretionary (UNCH), and financials (UNCH) lead the downside. Countercyclical consumer staples (-0.4%) underperform as Dean Foods (DF 17.13, -2.11) plunges 10.9% following commentary from Wal-Mart (WMT 68.05, +0.08), which confirmed its plans to launch a milk processing plant. Separately, tobacco names underperform the space.

The U.S. Dollar Index (95.71, 0.42) trades broadly higher as the greenback extends its gains against the yen and the euro. The dollar/yen pair trades higher by 0.2% (112.12) after bouncing off the 111.55 level. Meanwhile, the euro/dollar pair trades lower by 0.3% at 1.1208.

The yield on the 10-yr note tumbled to 1.88% (-4 bps) at the start of the session, but has gained as the rally continued in the equity market. Currently, the yield on the 10-yr note is lower by one basis point at 1.91%.

Today's economic data was limited to the FHFA Housing Price Index for January, which rose 0.5% month-over-month after increasing a revised 0.5% (from 0.4%) in December.

12:25 pm:

[BRIEFING.COM] The S&P 500 (-0.1%) hovers three points off its session high as it flirts with its week-to-date flat line. Meanwhile, the Dow Jones Industrial Average (-0.2%) has trimmed its year-to-date gain to 1.0%.

Narrow range-bound trade continues as the consumer discretionary space (-0.3%) and industrials (-0.3%) outperform the financial sector (-0.4%).

The energy group (-0.1%) has climbed up the leaderboard in recent action as oil pares earlier steeper losses. WTI crude trades lower by 0.2% at $41.42/bbl. The broader sector has shown resilience in the face of today's downturn in the energy component as Exxon Mobil (XOM 84.19, +0.58) gains 0.7%. Oil and gas refiners outperform ahead of this evening's weekly inventory report from the American Petroleum Institute. Conversely, oilfield service names underperform the sector.

The U.S. Dollar Index (95.60, +0.31) has inched up as the yen and the euro lose steam. The dollar/yen pair trades lower by 0.1% (111.90) after bouncing off the 111.55 level. Meanwhile, the euro/dollar pair trades lower by 0.2% at 1.1215.

12:00 pm:

[BRIEFING.COM] The major averages continue to trade on a mixed note with the Nasdaq Composite (UNCH) leading the S&P 500 (-0.2%) and the Dow Industrial Average (-0.2%).

Three sectors trade in the green with health care (+0.5%) leading the upside while technology (+0.1%) and materials (+0.1%) jockey for a distant second position.

The countercyclical consumer staples sector (-0.8%) shows the worst performance of the day, pulling back after a strong start to the year. In the space, tobacco names display relative weakness with Philip Morris (PM 96.52, -1.06) surrendering 1.1% this session. Meanwhile, Dean Foods (DF 17.03, -2.21) has plunged 11.6% after Wal-Mart (WMT 67.90, -0.06) confirmed its plans to establish a milk processing plant. The broader sector has gained 2.9% month to date, leading only health care (+2.4% month-to-date) in March.

On the commodities front, oil has extended its loss to 0.7% ($41.21/bbl) while gold trades higher by 0.7% at $1,252.60/ozt.

11:30 am:

[BRIEFING.COM] The stock market has traded largely sideways since our last update as the S&P 500 (-0.1%) trades in-line with the Dow Jones Industrial Average (-0.1%).

Four sectors remain in negative territory with consumer staples (-0.6%), financials (-0.4%), consumer discretionary (-0.3%), and industrials (-0.2%) underperforming the broader market.

In the industrial sector (-0.2%), FedEx (FDX 163.36, -1.18) underperforms after its recent post-earnings rally. The company has gained 13.2% since reporting better-than-expected results for the third quarter. Separately, the Dow Jones Transportation Average has pulled back 0.7% after climbing 9.2% in the month of March. This compares to a 6.2% gain in the benchmark index. Meanwhile, airlines have ticked off their lowest levels but still underperform the broader market.

The Treasury complex has slipped from its best level of the day as the yield on the 10-yr note moves to 1.90% (-2 bps).

10:55 am:

[BRIEFING.COM] The major averages have rallied off their worst levels of the day and now trade at session highs. The Nasdaq Composite (+0.1%) has crossed its flat line while the S&P 500 (UNCH) has climbed 10 points off its session low.

Currently, health care (+0.3%), technology (+0.3%) and utilities (+0.2%) lead the upside while consumer staples (-0.6%), consumer discretionary (-0.4%), and financials (-0.3%) round out the board.

In the heavyweight health care space (+0.3%), biotechnology looks to extend its recent rally as the iShares Nasdaq Biotechnology ETF (IBB 2260.78, +4.29) jumps 1.7%. For the week, the ETF has gained 4.2%. Meanwhile, Eli Lilly (LLY 71.29, +1.04) also displays relative strength as the company looks to rebound from a month-to-date loss of 1.8%, compared to a 2.1% gain in the broader sector. Conversely, Express Scripts (ESRX 97.58, -1.76) has tumbled 2.5% after Mizuho offered bearish commentary regarding the company being sued by Anthem (ANTM 139.23, -0.77) over pharmacy pricing.

On the commodities front, WTI crude trades higher by 0.1% at $41.56/bbl while gold has gained 0.8% ($1,253.60/ozt).

10:40 am: [BRIEFING.COM]

The dollar index is +0.3% higher, which is helping weigh on commodities this morning
May crude oil sold off this morning, but has been recovering in recent activity
May crude just moved into positive territory and is now +0.2% at $41.61/barrel
In other energy, Apr nat gas lost steam, coming off its HoD, and is +0.1% at $1.83/MMBtu in current trade
Apr gold is +0.8% at $1254.20/oz (in positive territory all day so far), while May silver is +0.7% at $15.96/oz
May copper is -0.3% at $2.29/lb

10:00 am:

[BRIEFING.COM] The major averages have inched off their lows towards fresh session highs. At this juncture, the S&P 500 (-0.3%) trades in-line the Dow Jones Industrial Average (-0.3%).

The financial sector (-0.5%), materials (-0.4%), and consumer discretionary (-0.4%) currently round out the leaderboard.

In the consumer discretionary space (-0.4%), Priceline (PCLN 1323.70, -26.80) and lodging names display relative weakness as Marriott (MAR 70.67, -1.63) and Wyndham Worldwide (WYN 76.00, -1.07) decline 2.2% and 1.3% respectively.

The U.S. Dollar Index (95.23, +0.24) has slipped in recent action as the dollar/yen pair trades lower by 0.3% at 111.63. Meanwhile, the euro/dollar pair has ticked off the 1.1206 level to trade lower by 0.1% at 1.1227.

9:45 am:

[BRIEFING.COM] As expected, the major averages opened under selling pressure as the S&P 500 (-0.5%) outpaces the losses in the Nasdaq Composite (-0.4%).

All ten sectors opened their day in negative territory as energy (-0.6%) and the financial sector (-0.8%) show the largest losses. Meanwhile, countercyclical health care (-0.2%) and utilities (-0.2%) outperform. The remaining decliners show losses between 0.3% (technology) and 0.5% (industrials). The Dow Jones Transportation Average (-0.8%) demonstrates relative weakness as airline names underperform in the index.

On the commodities front, WTI crude trades lower by 1.3% at $40.99/bbl. The energy component slipped as low as $40.80/bbl after Libya announced that the country would not join other oil producers in Qatar on April 17 to discuss a potential supply cap agreement. Furthermore, a delegate from the country stated that it would like to increase its output.

The yield on the 10-yr note tumbled 1.88% (-3 bps) at the start of the session, but has since ticked higher to 1.89 (-2 bps).

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -25.50.

The stock market is on track for a modestly lower open as the S&P 500 futures hover ten points below fair value.

A risk off posture has dominated trade in the early going as investors respond to terror attacks in Brussels. Two explosions took place in Belgium's capital overnight, one at the Brussels airport and the other in the city's metro system. As a result, 120 people have been injured and 26 have been killed. At this time, no group has taken responsibility for the explosions. Safe havens received a bid with gold and Treasuries rallying. To that point, gold has gained 0.7% to trade at $1,252.60/ozt while the yield on the 10-yr note has slipped one basis point to 1.90%. Meanwhile, oil has slipped to session lows in recent action as WTI crude trades lower by 1.4% to $40.96/bbl.

Separately, the FHFA Housing Price Index for January rose 0.5% month-over-month after increasing a revised 0.5% (from 0.4%) in December.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -6.90. Nasdaq futures vs fair value: -19.70.

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

Equity markets across the Asia-Pacific region ended Tuesday on a mostly lower note while Japan's Nikkei (+1.9%) outperformed after being closed on Monday. The index rallied despite a worse than expected reading of the preliminary Manufacturing PMI for March (49.1; expected 50.6) suggesting the reading was viewed as a case for additional stimulus. Elsewhere, the People's Bank of China announced a second consecutive lower fix for the yuan against the dollar (6.4971 from 6.4824).

In economic data:
Japan's March Preliminary Manufacturing PMI 49.1 (expected 50.6; last 50.1) and All Industries Activity Index 2.0% month-over-month (expected 1.9%; last -0.9%)
Australia's Q4 House Price Index +0.2% quarter-over-quarter (consensus 0.1%; last 2.0%) and CB Leading Index -0.4% month-over-month (last -0.2%)

---Equity Markets---

Japan's Nikkei climbed 1.9% amid broad strength. All ten sectors posted gains with health care (+2.6%), communications (+2.4%), and consumer discretionary (+2.0%) ending among the leaders. Dainippon Screen Manufacturing, Toshiba, Toyota Motor, Isuzu Motors, Kyocera, Dentsu, and Konami advanced between 2.9% and 6.0%. On the downside, Sharp lost 6.5% after Hon Hai started looking to reduce the price to be paid for Sharp.
Hong Kong's Hang Seng shed 0.1%. China Resources Power fell 6.7% while other energy-related names ended on a mixed note. China Shenhua Energy lost 2.3% while Petrochina and CNOOC gained 0.2% and 0.8%, respectively.
China's Shanghai Composite lost 0.6% with brokerage names giving back some of their gains from the Monday surge. CITIC Securities fell 3.5% while Industrial Securities, Founder Securities, and Pacific Securities saw losses between 1.1% and 3.1%.

Major European indices trade mostly lower, having stumbled in the wake of two terrorist attacks in Belgium that claimed at least 25 lives. The euro/dollar pair has rebounded to the 1.1229 area falling as low as 1.1192.

Economic data was plentiful:
Eurozone preliminary March Manufacturing PMI 51.4 (expected 51.3; last 51.2) and preliminary March Services PMI 54.0 (consensus 53.3; previous 53.3). Separately, ZEW Economic Sentiment ticked down to 10.6 from 13.6 (expected 8.2)
Germany's preliminary March Manufacturing PMI 50.4 (expected 50.8; last 50.5) and preliminary March Services PMI 55.5 (consensus 55.0; last 55.3). Separately, March ZEW Economic Sentiment 4.3 (expected 5.0; last 1.0) and ZEW Current Conditions 50.7 (consensus 53.0; last 52.3)
UK's February CPI +0.2% month-over-month (expected 0.4%; last -0.8%); +0.3% year-over-year (consensus 0.4%; last 0.3%). Core CPI +1.2% year-over-year, as expected, Input PPI -8.1% year-over-year (consensus -7.4%; last -8.0%) and Output PPI -1.1% year-over-year (consensus -1.2%; last -1.0%). Separately, House Price Index +7.9% year-over-year (consensus 6.9%; last 6.7%)
France's preliminary March Manufacturing PMI 49.6 (expected 50.2; last 50.2) and preliminary March Services PMI 51.2 (consensus 49.5; last 49.2)
Swiss February trade surplus CHF4.07 billion (expected CHF2.88 billion; last CHF3.51 billion)

---Equity Markets---

Germany's DAX trades lower by 0.3% with Deutsche Bank down 1.7% while Lufthansa, Henkel, Fresenius, Linde, Allianz, and Commerzbank show losses between 0.4% and 1.5%. On the upside, RWE has spiked 2.5% while Merck, Volkswagen, BASF, and BMW display gains between 0.1% and 0.5%.
UK's FTSE is lower by 0.5% with Sports Direct leading the retreat. The stock has plunged 8.6% after founder Mike Ashley said he will not appear before a Commons select committee amid questions about working conditions at the company's warehouses. Financials also lag with Aberdeen Asset Management, Barclays, and RBS down between 1.2% and 3.7%.
France's CAC trades down 0.7%. Consumer names like Accor, Louis Vuitton, Kering, and L'Oreal have surrendered between 1.0% and 2.6% while financials BNP Paribas and Societe Generale are both down near 1.2%. On the upside, Vivendi has climbed 3.2% and Renault trades up 1.5%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -20.50.

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

On the corporate front, Dick's Sporting Goods (DKS 47.50, +0.11) has climbed 0.2% after announcing a plan to repurchase up to $1 billion worth of its shares over the next five years. Meanwhile, today's hearing in the Apple (AAPL 105.56, -0.35) trial has been canceled after the government hinted that an outside party may be able to assist them in retrieving data from the iPhone in question.

The U.S. Dollar Index (95.50, +0.21) has slipped from its best level of the night as the greenback gains against the euro and loses ground to the yen. The dollar/yen pair trades at 111.61 (-0.3%) after slipping from the 111.82 level. Meanwhile, the euro/dollar pair trades lower by 0.1% at 1.1227 after falling from the 1.1249 area overnight.

On the commodities front, gold has rallied 0.9% ($1,255.00/ozt) thanks to a safe haven bid. Meanwhile, WTI crude trades lower by 0.9% at $41.16/bbl.

8:04 am: [BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -18.50.

U.S. equity futures trade lower with the S&P 500 futures hovering eight points below fair value. Equity futures and European bourses slipped overnight following a string of explosions in Belgium's capital of Brussels. Consecutive blasts one of which at Brussel's airport and the other in the country's subway system have renewed terror fears in the region and led to a risk-off posture this morning. To that point, gold has gained 0.7% ($1,252.60/ozt) while Treasuries trade modestly higher. The yield on the 10-yr note floats at 1.90% (-1 bps) while the yield on the 2-yr note has slipped three basis points to 0.85%.

Meanwhile, preliminary manufacturing PMI reading from Japan, Germany, and France disappointed investors while the Eurozone's PMI reading jumped to 53.7 from February's 53.0.

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

In U.S. corporate news of note:

Zillow (Z 23.65, +0.89): +3.9% following an upgrade to "Outperform" from "Sector Perform" at RBC Capital Markets
Yahoo (YHOO 34.48, -0.69): -2.0% after receiving a downgrade at Citigroup from "Buy" to "Neutral"
Wynn Resorts (WYNN 94.25, +1.51): +1.6% following an upgrade at Morgan Stanley from "Equal-Weight" to "Overweight"

Reviewing overnight developments:

Asian-Pacific indices ended on a mixed note with Japan's Nikkei +1.9%, Hong Kong's Hang Seng -0.1%, and China's Shanghai Composite -0.6%.
In economic data:
Japan's March Preliminary Manufacturing PMI 49.1 (expected 50.6; last 50.1) and All Industries Activity Index 2.0% month-over-month (expected 1.9%; last -0.9%)
Australia's Q4 House Price Index +0.2% quarter-over-quarter (consensus 0.1%; last 2.0%) and CB Leading Index -0.4% month-over-month (last -0.2%)
In news:
The People's Bank of China announced a second consecutive lower fix for the yuan against the dollar (6.4971 from 6.4824).

European indices trade lower across the board with the France's CAC -0.9%, U.K.'s FTSE -0.7%, and Germany's DAX -0.4%.
Economic data was plentiful:
Eurozone preliminary March Manufacturing PMI 51.4 (expected 51.3; last 51.2) and preliminary March Services PMI 54.0 (consensus 53.3; previous 53.3). Separately, ZEW Economic Sentiment ticked down to 10.6 from 13.6 (expected 8.2)
Germany's preliminary March Manufacturing PMI 50.4 (expected 50.8; last 50.5) and preliminary March Services PMI 55.5 (consensus 55.0; last 55.3). Separately, March ZEW Economic Sentiment 4.3 (expected 5.0; last 1.0) and ZEW Current Conditions 50.7 (consensus 53.0; last 52.3)
UK's February CPI +0.2% month-over-month (expected 0.4%; last -0.8%); +0.3% year-over-year (consensus 0.4%; last 0.3%). Core CPI +1.2% year-over-year, as expected, Input PPI -8.1% year-over-year (consensus -7.4%; last -8.0%) and Output PPI -1.1% year-over-year (consensus -1.2%; last -1.0%). Separately, House Price Index +7.9% year-over-year (consensus 6.9%; last 6.7%)
France's preliminary March Manufacturing PMI 49.6 (expected 50.2; last 50.2) and preliminary March Services PMI 51.2 (consensus 49.5; last 49.2)
Swiss February trade surplus CHF4.07 billion (expected CHF2.88 billion; last CHF3.51 billion)
In news:
Two terrorist attacks in Belgium claimed at least 25 lives overnight
The euro also retreated on the news, falling from 1.1250 below the 1.1209 area against the dollar.

6:16 am: [BRIEFING.COM] S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -14.00.

6:16 am: [BRIEFING.COM] Nikkei...17,048.55...+323.70...+1.90%. Hang Seng...20,666.75...-17.40...-0.10%.

6:16 am: [BRIEFING.COM] FTSE...6,152.41...-31.80...-0.50%. DAX...9,895.96...-57.60...-0.60%.

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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